Colombia's top-coal-producer Cerrejon on Monday said its output targets for this calendar year will likely be missed.Cerrejon, a joint venture between Anglo American, BHP Billiton and Glencore Xstrata, production target for 2013 was 34 million tonnes, but a month-long strike and multiple bombings of its railway infrastructure including two in the space of ten days last month, are making that diffi...Read More
Bernanke Says Failing Bank Process Needed to Reduce Crises … Federal Reserve Chairman Ben S. Bernanke said a process under development that would allow regulators to take down a failing bank will help ensure investors discipline weak firms and prevent them from taking risks without consequence. "As we try to make the financial system safer, we must inevitably confront the problem of mor...Read More
Paranoia Has Undermined United States Claim to Liberal Democracy … Agent Carrie Mathison is a topical figure. The main character in the American TV series "Homeland," played by the wonderful Claire Danes, shows her true relevance in the first few episodes, in which Mathison is nervously sitting at home, observing and listening in on the life of a terror suspect on a large screen. H...Read More
Bernanke Says Failing Bank Process Needed to Reduce Crises … Federal Reserve Chairman Ben S. Bernanke said a process under development that would allow regulators to take down a failing bank will help ensure investors discipline weak firms and prevent them from taking risks without consequence. "As we try to make the financial system safer, we must inevitably confront the problem of mor...Read More
Paranoia Has Undermined United States Claim to Liberal Democracy … Agent Carrie Mathison is a topical figure. The main character in the American TV series "Homeland," played by the wonderful Claire Danes, shows her true relevance in the first few episodes, in which Mathison is nervously sitting at home, observing and listening in on the life of a terror suspect on a large screen. H...Read More
Twitter Surges in Trading Debut After $1.82 Billion Share Sale. Twitter Inc. jumped 73 percent in its trading debut, as investors paid a premium for its promises of fast growth. The stock rose to $44.90 at the close in New York from the initial public offering price of $26, delivering the biggest one-day pop for an IPO that raised more than $1 billion since Alibaba.com Ltd. debuted in 2007, accord...Read More
Politics Revealed: Obama Campaign Bundler Helping Fund Libertarian in Tight Va. Gubernatorial Race … A major Democratic Party benefactor and Obama campaign bundler helped pay for professional petition circulators responsible for getting Virginia Libertarian gubernatorial candidate Robert C. Sarvis on the ballot – a move that could split conservative votes in a tight race. Campaign fina...Read More
Twitter Surges in Trading Debut After $1.82 Billion Share Sale. Twitter Inc. jumped 73 percent in its trading debut, as investors paid a premium for its promises of fast growth. The stock rose to $44.90 at the close in New York from the initial public offering price of $26, delivering the biggest one-day pop for an IPO that raised more than $1 billion since Alibaba.com Ltd. debuted in 2007, accord...Read More
Politics Revealed: Obama Campaign Bundler Helping Fund Libertarian in Tight Va. Gubernatorial Race … A major Democratic Party benefactor and Obama campaign bundler helped pay for professional petition circulators responsible for getting Virginia Libertarian gubernatorial candidate Robert C. Sarvis on the ballot – a move that could split conservative votes in a tight race. Campaign fina...Read More
The MoneyLetter, MPL Communications Inc.133 Richmond St.W., Toronto, ON, M5H 3M8. 1-800-804-8846The S&P/TSX Composite Index, including reinvested dividends, recently turned positive compared to the market's peak prior to the onset of the financial crisis in 2008. To illustrate the extreme volatility the market has experienced, consider this: if an investor would have missed even a few of the best...Read More
China seeks world role for 'people's money' … With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar. The most attention-grabbing reform planned for Shanghai's new free trade zone is free convertibility of the yuan – also known as the renminbi, or "people's mo...Read More
Virginia, Alabama Voter Choices Show Tea Party Declining … In the closing days of his losing campaign for Virginia's governorship, Republican Attorney General Ken Cuccinelli called the contest a referendum on Obamacare. Virginia voter Lee Killen saw it instead as a referendum on the Tea Party – and he voted no. Killen, a Republican-turned-independent from Fairfax, cast his ballot f...Read More
China seeks world role for 'people's money' … With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar. The most attention-grabbing reform planned for Shanghai's new free trade zone is free convertibility of the yuan – also known as the renminbi, or "people's mo...Read More
Virginia, Alabama Voter Choices Show Tea Party Declining … In the closing days of his losing campaign for Virginia's governorship, Republican Attorney General Ken Cuccinelli called the contest a referendum on Obamacare. Virginia voter Lee Killen saw it instead as a referendum on the Tea Party – and he voted no. Killen, a Republican-turned-independent from Fairfax, cast his ballot f...Read More
Private Equity Played Large Role In Rush Of Initial Public Offerings (IPO) So Far In 2013 … Initial public offerings (IPO) in the United States have taken off this year, with October seeing the most IPOs since 2007, as 33 companies raised more than $12 billion, the Wall Street Journal reported Monday. – International Business TimesDominant Social Theme: Ain't capitalism grand?Free-...Read More
Greek protesters rally against IMF and EU inspection. Anti-austerity demonstrators jeer, heckle and throw coins at auditors from bailout troika amid fears of more public sector cuts … Only hours before, the Greek prime minister, Antonis Samaras, had resolutely declared that Greece was not at war with the international bodies keeping the debt-stricken country afloat. But on Tuesday, inspector...Read More
Private Equity Played Large Role In Rush Of Initial Public Offerings (IPO) So Far In 2013 … Initial public offerings (IPO) in the United States have taken off this year, with October seeing the most IPOs since 2007, as 33 companies raised more than $12 billion, the Wall Street Journal reported Monday. – International Business TimesDominant Social Theme: Ain't capitalism grand?Free-...Read More
Greek protesters rally against IMF and EU inspection. Anti-austerity demonstrators jeer, heckle and throw coins at auditors from bailout troika amid fears of more public sector cuts … Only hours before, the Greek prime minister, Antonis Samaras, had resolutely declared that Greece was not at war with the international bodies keeping the debt-stricken country afloat. But on Tuesday, inspector...Read More
Gold Bug Schiff Counters Goldman on First Drop Since 2000 … Peter Schiff lays an iPod-sized bar valued at about $40,000 on the sun room floor of his Connecticut mansion, and calculates it would cost about $250,000 for each floor tile to pave the room with gold. He shows off $50 gold chips, to be used when paper money becomes worthless, a prediction repeated on his daily two-hour radio show b...Read More
Twitter Raises IPO Price Range, Looks To Sell Shares For $23-$25 … Twitter's roadshow must be going pretty well. The social network has been pitching its forthcoming initial public offering to institutional investors over the last week-plus and raised the price range for the deal Monday morning according to an updated SEC filing. Twitter now aims to sell shares for between $23 and $25 ap...Read More