Archive for the 'Economy' Category
Steepest Rise in Food Prices in 36 Years
March 16th, 2011Via: AP: Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame. The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February — […]
High Demand for Private Jets as Wealthy Flee Japan
March 16th, 2011Via: Reuters: Thousands of people desperate to escape Japan’s deepening nuclear crisis have inundated private jet companies with requests for evacuation flights, sending prices surging as much as a quarter. Some multinational companies are pulling international staff out of Tokyo and surrounding areas after low-level radiation reached the metropolis on Tuesday. Workers are fleeing for […]
China Places Largest Non Military Ship Order Ever
March 16th, 2011Via: Dow Jones: China ordered 50 to 100 new container, tanker and dry-bulk ships Monday under a deal financed by a private-equity consortium led by Carlyle Group. Valued at between $5 billion and $10 billion, it’s the biggest private-sector shipping deal ever, analysts said. The new joint venture, which will lease the vessels to China, […]
Japanese Stock Market Stabilizes, Nikkei Up Over 4% Intraday
March 16th, 2011Profit taking / short covering. Monitoring…
Japan’s Disastrous Nuclear Operators
March 15th, 2011Via: Greg Palast: I need to speak to you, not as a reporter, but in my former capacity as lead investigator in several government nuclear plant fraud and racketeering investigations. I don’t know the law in Japan, so I can’t tell you if Tokyo Electric Power Co (TEPCO) can plead insanity to the homicides about […]
Japan: Electricity Shortages Could Last for Months
March 15th, 2011The electricity generation question is the one I’m most curious about. How does Japan keep-the-lights-on, so to speak, going forward? —Implications of Japanese Earthquake Via: Reuters: Japan’s earthquake has left a gaping hole in the nation’s power capacity that looks set to last months, threatening to make economic recovery far more feeble than hoped. The […]
Germany Will Halt 25% of Nuclear Capacity for Safety Review
March 15th, 2011Via: Bloomberg: Germany will halt nuclear reactors accounting for 25 percent of its atomic energy capacity as part of a safety review after explosions at reactors in Japan. The country will keep its seven oldest nuclear reactors offline as part of a nationwide safety review to run through June, Chancellor Angela Merkel told reporters in […]
U.S. Stocks Will Open Sharply Lower
March 15th, 2011Gold is down $41.40 or -2.90%. Silver has been whacked down $2.24 or -6.23%. U.S. Stock futures are all down between two and almost three percent. The U.S. Dollar is strong this morning, but it’s nowhere near as interesting as the action in the equities, metals and oil, which is down almost four bucks. Losses […]
Chip Prices Jump; Global Manufacturing Chain Disrupted
March 15th, 2011Here we go. Via: Reuters: Prices for key technology components extended gains on Tuesday, as damage at Japanese plants and infrastructure caused by Friday’s devastating earthquake and tsunami threatens to disrupt the global manufacturing chain longer than many had expected. Dozens of Japanese firms from component makers to electronics firms and automakers are keeping their […]
EMERGENCY: NIKKEI DOWN MORE THAN 12% INTRADAY
March 15th, 2011Update: Worst Two Day Stock Rout Since 1987 Via: Reuters: Japanese stocks plunged 10.6 percent on Tuesday, posting the worst two-day losing streak since 1987, on reports of rising radiation near Tokyo, suggesting any deterioration at a quake-hit nuclear plant could trigger more panic selling led by hedge funds. The yen tripped on talk of […]
