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Washington Post
Thursday, February 25, 2010
The Obama administration's chief foreclosure-prevention program "has failed" and may hurt more homeowners than it helps, according to a report by two Republican members of the House Committee on Oversight and Government Reform.
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Telegraph.co.uk
Thursday, February 25, 2010
Stephanie Madoff filed court papers in Manhattan on Wednesday asking to change her last name to Morgan. She made the same request for her two children.
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The Economist
Thursday, February 25, 2010
The recession that ended so grudgingly late last year bit more deeply into GDP than any previous post-war downturn.
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Globe and Mail
Thursday, February 25, 2010
The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows led to higher layoffs.
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New York Times
Thursday, February 25, 2010
Disappointing reports on jobless claims in the United Statees and economic sentiment in Europe painted a bleaker picture of a recovery than the Federal Reserve chairman Ben S. Bernanke did during testimony Wednesday on Capitol Hill.
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By Sewell Chan
New York Times
Wednesday, February 24, 2010
Ben S. Bernanke, making his first appearance before Congress since the Senate confirmed him last month to a second term as chairman of the Federal Reserve, reaffirmed on Wednesday that short-term interest rates would remain at a historically low point — near zero — for “an extended period.”
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By Jonathan T. Orr
MidasLetter.com
Tuesday, February 23, 2010
While climate conferences are held and debate rages, Legend Power Systems Inc. (TSX.V: LPS) has a solution that will make practical sense to anyone: with their own-patented technology they can reduce a company’s energy costs by simply optimizing voltage use.
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By David Frum
CNN
Tuesday, February 23, 2010
G.K. Chesterton observed that you should never pull down a fence until you understand why it was put up.
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By Jonathan Hoenig
SmartMoney.com
Tuesday, February 23, 2010
By even the most cursory measure, efforts to prevent foreclosure have failed miserably.
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By Richard Teitelbaum
Bloomberg
Tuesday, February 23, 2010
The United States faces the prospect of a jobless recovery, with painfully slow employment growth and the economy not operating at its full potential until 2013, a top Federal Reserve official said Monday.
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By Ambrose Evans-Pritchard
Telegraph.co.uk
Tuesday, February 23, 2010
European banks need to roll over €1 trillion (£877bn) of debt over the next two years at a much higher cost and in direct competition with hungry sovereign states, according to a report by Morgan Stanley.
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By Sewell Chan
New York Times
Tuesday, February 23, 2010
The United States faces the prospect of a jobless recovery, with painfully slow employment growth and the economy not operating at its full potential until 2013, a top Federal Reserve official said Monday.
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By James West and Claire O'Connor
MidasLetter.com
Monday, February 22, 2010
Brazil is known for many things – Carnival, The Girl from Ipanema, Gisele Bundchen’s legs. Gisele Bundchen’s entire body for that matter. And, as you know, Brazil is home to a world-class mining industry with remarkable exploration potential.
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By Steve Holland
Reuters
Monday, February 22, 2010
President Barack Obama vigorously defended his $787 billion stimulus on Wednesday, insisting it rescued Americans from the worst of the economic calamity and ripping Republican critics who called it a waste.
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By Peter S. Goodman
New York Times
Monday, February 22, 2010
Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.
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By Charles Forelle and Susanne Craig
Wall Street Journal
Monday, February 22, 2010
Concerns that Greece and other struggling European nations may not be able to repay their debts are focusing investor attention on another big worry: Economies across the Continent have used complex financial transactions—sometimes in secret—to hide the true size of their debts and deficits.
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By Sharon Bernstein
Los Angeles Times
Monday, February 22, 2010
Large and mid-size companies cut about 7% fewer jobs in the fourth quarter of 2009 than in the previous three months.
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The Economist
Monday, February 22, 2010
America is spending beyond its means, both parties and the president (not to mention pundits and protesters) have recognised. But cutting budgets is tough politics, which is why special commissions are at times called in to make recommendations away from the legislative hurly-burly.
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By Wes Goodman
Bloomberg
Monday, February 22, 2010
Lost amid government reports that China reduced its holdings of Treasuries by a record amount in December were data showing Japan increased its stake, a move that may signal U.S. yields are peaking.
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Christine Richard and Darrell Preston
Bloomberg
Friday, February 19, 2010
Forewarned bankruptcies linked to infrastructure projects from Las Vegas to Harrisburg, Pennsylvania, may prove Warren Buffett’s conclusion that insuring municipal bonds is a “dangerous business.”
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By Matt Whittaker
Wall Street Journal
Friday, February 19, 2010
The World Gold Council, a mining industry body, said Thursday it does not anticipate that the remaining International Monetary Fund gold sales will disrupt markets.
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Michael Kitchen
MarketWatch
Thursday, February 18, 2010
The International Monetary Fund said Wednesday that it plans to sell 191.3 metric tons of gold on the open market, pushing gold futures and mining shares lower.
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Reuters
Thursday, February 18, 2010
Britain posted its first budget deficit for the month of January on record after government spending shot up and tax receipts dived following the worst recession in decades, official data showed on Thursday.
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BBC News
Thursday, February 18, 2010
US billionaire George Soros has more than doubled his investment in gold, despite calling it the "ultimate bubble" just weeks ago.
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By Rory Carroll
Guardian.co.uk
Thursday, February 18, 2010
Britain says drilling for hydrocarbons will go ahead despite Argentine moves to require permits.
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By Daniel Gross
Newsweek
Thursday, February 18, 2010
As much as its impact has been debated and discussed, the stimulus has barely kicked into gear.
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By Kevin J. O'Brien
New York Times
Thursday, February 18, 2010
Josh Silverman, the chief executive of Skype, the voice-over-Internet phone service, could tick off the names of mobile phone operators that block his company’s service.
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By Louis Uchitelle
New York Times
Wednesday, February 17, 2010
Mr. Volcker, 82, signed up the support of nearly a dozen peers whose average age is north of 70 and whose pedigrees on Wall Street and in banking are impeccable.
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By Ian Katz and Robert Schmidt
BusinessWeek
Tuesday, February 16, 2010
Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC) and an ex-Goldman Sachs (GS) partner, has shattered any illusions that he will protect Wall Street from tough new derivative regulations.
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BBC News
Tuesday, February 16, 2010
President Barack Obama has signed a law increasing the limit on how much the US government can borrow.
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By James West
MidasLetter.com
Monday, February 15, 2010
Apoquindo Minerals Inc. (TSX.V:AQM), the Chile and Peru-based copper exploration company that is chaired by Juan Villarzu, former CEO of CODELCO, the world’s largest copper producer, has finally hit some big holes.
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By Pedro Nicolaci da Costa
Reuters
Monday, February 15, 2010
Turmoil in Europe and belt-tightening in China are endangering a U.S. economic recovery that many believed was tentative even without headwinds from abroad.
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New York Times
Monday, February 15, 2010
RealtyTrac, an online marketer of foreclosed properties, said foreclosure filings rose by 15 percent in January compared with a year ago.
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Reuters
Monday, February 15, 2010
With the gold price reaching record highs recently, stock in so-called "junior" miners has skyrocketed too but may still be viewed as a bargain by some investors, Barron's business newspaper said on Sunday.
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The Economist
Monday, February 15, 2010
In a new mood of even sharper hostility towards dissent, China is coming down hard on the country’s small but courageous community of human-rights activists.
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By Jeanne Sahadi
CNN Money
Monday, February 15, 2010
If the United States takes its time coming up with a deficit reduction plan, all bets are off.
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By James West
MidasLetter.com
Friday, February 12, 2010
Constantine Metal Resources (TSX.V:CEM) is an exploration stage company who has a 100% interest in two projects with truly exceptional producing potential.
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By Polya Lesova
MarketWatch
Friday, February 12, 2010
Germany's adjusted gross domestic product was unchanged in the fourth quarter of 2009 compared with the preceding quarter, the Federal Statistics Office, Destatis, said on Friday.
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By Barrie McKenna
Globe and Mail
Friday, February 12, 2010
As the U.S. Congress pushes ahead with another stimulus package, two sobering government reports paint a picture of an economy that still faces huge hurdles - absorbing losses in commercial real estate, and creating jobs.
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By Phil Izzo
Wall Street Journal
Friday, February 12, 2010
About a quarter of the 8.4 million jobs eliminated since the recession began won't be coming back and will ultimately need to be replaced by other types of work in growing industries, according to economists in the latest Wall Street Journal forecasting survey.
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By Christi Parsons and Janet Hook
Los Angeles Times
Friday, February 12, 2010
Majority Leader Harry Reid says his stripped-down proposal will be the first in a series of employment measures.
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By MaryAnn Busso
Business Week
Friday, February 12, 2010
The $125 million fund, which invests in companies that mine or process metals or other commodities, rose 83 percent last year.
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By James West
MidasLetter.com
Thursday, February 11, 2010
Cadillac CEO Norman Brewster is carrying a strong portfolio of projects, has superb experience for exploring and developing the projects and has the deep-pocket backing of Trafigura AG, one of the largest players in this sector.
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USA Today
Thursday, February 11, 2010
The president's annual economic report projects the same thing the administration's budget did last week: Slow job growth for this year.
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BBC News
Thursday, February 11, 2010
The Spanish economy shrank by 0.1% in the last three months of 2009, making it the last major economy still in recession.
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Associated Press
Thursday, February 11, 2010
The number of newly laid-off workers seeking unemployment benefits fell sharply last week, a hopeful sign the job market may be improving.
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By Graham Ruddick
Telegraph.co.uk
Thursday, February 11, 2010
One in eight shops in Britain's town centres are empty, according to a new report, and the country faces a "fundamental reshaping of high streets".
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By Robb M. Stewart
Wall Street Journal
Thursday, February 11, 2010
De Beers SA said Thursday its three shareholders have agreed to invest $1 billion so that it can cut debt and strengthen its balance sheet after a year in which gem output slumped 49% on weak global demand for luxury items.
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By James West
MidasLetter.com
Wednesday, February 10, 2010
Megastar Development Corporation (TSX-V: MDV; Frankfurt: M5Q) an exciting young resource group focused on the acquisition, exploration and development of promising mineral properties across Canada.
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By Jody Shenn
BusinessWeek
Wednesday, February 10, 2010
U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies,” according to Fitch Ratings.
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Forbes
Wednesday, February 10, 2010
The number of German companies filing for bankruptcy was up nearly 7 percent on the year in November, an increase that was less sharp than in the preceding months, government data showed Wednesday. |
By Gregory Zuckerman
Wall Street Journal
Wednesday, February 10, 2010
When Mr. Paulson's Paulson & Co. late last year announced it was starting a hedge fund to make a big gold bet, many on Wall Street expected investors to line up. Paulson & Co. scored about $20 billion in profits in 2007 and 2008 wagering against subprime mortgages and financial companies.
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By Peter J. Henning
New York Times
Wednesday, February 10, 2010
Like the brief appearance of Punxsutawney Phil on Groundhog Day, the fallout from the enormous Ponzi scheme perpetrated by Bernard L. Madoff occasionally pops to the surface, only to recede again into the shadows, perhaps until spring arrives. |
By Elena Logutenkova
Bloomberg
Wednesday, February 10, 2010
UBS AG’s loss in 2009 will trigger the bank’s bonus claw back mechanism for the first time, depriving senior bankers of 300 million Swiss francs ($282 million) of deferred pay they were due to receive this year.
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By James West
MidasLetter.com
Tuesday, February 9, 2010
Midas Letter is always pleased when promising companies we have written about make the bold strides and meet the ambitious goals they have previously spoken about to us. In September of 2009 when Midas last talked with Alto Ventures ltd. (TSX.V:ATV) the gold focused junior exploration company had entered into a joint venture agreement with Pacific Northwest Capital (TSX.V:PFN)... |
By David Barboza and Keith Bradsher
New York Times
Tuesday, February 9, 2010
Flush with cash despite the global economic downturn, China’s sovereign wealth fund quietly bought more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup.
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By Jason Zweig
Wall Steet Journal
Tuesday, February 9, 2010
For many investors, the market's turbulence hasn't just destroyed wealth. It has shattered their faith in the financial system itself. |
By Elena Logutenkova
Bloomberg
Tuesday, February 9, 2010
UBS AG, the European bank with the biggest losses from the credit crisis, said withdrawals by wealthy clients accelerated in the fourth quarter even as the company reported its first profit in more than a year.
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By Tom Petruno
Los Angeles Times
Tuesday, February 9, 2010
Stock investors are facing the biggest test of their staying power since Wall Street's rally began nearly a year ago. |
By Edmund Conway
Telegraph.co.uk
Tuesday, February 9, 2010
Fears that Britain may already be succumbing to a "double-dip" recession materialised as it emerged that 2010 opened with the worst January for the high street since comparable records began 15 years ago.
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By Terry Macalister
Guardian.co.uk
Monday, February 8, 2010
Sir Richard Branson and fellow leading businessmen will warn ministers this week that the world is running out of oil and faces an oil crunch within five years. |
By David Weidner
Wall Street Journal
Monday, February 8, 2010
Wall Street reform died this week. It died Tuesday before the Senate Banking Committee from unnatural and illogical causes: the finance lobby, obstruction, fear-mongering and plain ignorance.
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By Jack Ewing
New York Times
Monday, February 8, 2010
Whether he likes it or not, Jean-Claude Trichet is not just the president of the European Central Bank. Mr. Trichet, 67, is also the de facto president of Europe, at least for the 16 nations that rely on the euro as their common currency. |
By Michael McKee
Bloomberg
Monday, February 8, 2010
Small businesses are becoming the Achilles heel of the U.S. recovery by limiting growth and job creation.
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By Rowena Mason
Telegraph.co.uk
Monday, February 8, 2010
The oil price may have risen fairly steadily since its lows of $37 per barrel last year but petrol fumes have been causing energy majors the biggest headache lately. |
By James West
MidasLetter.com
Friday, February 5, 2010
When we first wrote up First Gold Exploration (TSX.V:EFG) back in December last year, the company was trading below $0.20. Now, a mere three months later, the company has tripled in value, thanks mainly to the outstanding success the company has realized at its Pivert/Rose property in James Bay are of Quebec.
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By Chirstopher S. Rugabaer
ABC News
Friday, February 5, 2010
Job losses during the Great Recession have been huge and they're about to get bigger. |
By Rob Delaney
Business Week
Friday, February 5, 2010
Eric Sprott, whose Sprott Hedge Fund increased more than fivefold in nine years, said gold may rise to $1,500 an ounce this year and $2,000 within two years as the U.S. government takes measures to counter the credit crunch.
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By Mark Whitehouse
Wall Street Journal
Friday, February 5, 2010
Concerns about the ability of the U.S. economy to create jobs added to a broader wave of fear about European finances, as fresh data showed unemployment claims rising and companies managing to boost production without adding workers. |
By William D. Cohan
New York Times
Friday, February 5, 2010
Now that we have pulled back sufficiently far from the near “destruction of the modern financial system” — as the former Treasury Secretary Henry Paulson described the events of 2008 in his new memoir, “On The Brink” — to focus on how to prevent such a calamity from recurring, the time has come to hear from those players in the drama who really know what happened and why.
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By Myra Butterworth
Telegraph.co.uk
Friday, February 5, 2010
Despite the recession being declared over, many households are still unable to live within their means.
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By James West
MidasLetter.com
Thursday, February 4, 2010
Everyone knows, in the mining world, that a company is only as good as its people. The latest addition to the TSX Venture Exchange comes from Goldgroup, best thought of as a well-oiled discovery machine.
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By Chelsea Emery
Reuters
Thursday, February 4, 2010
U.S. business bankruptcy filings rose 7 percent in January from a year ago, according to a bankruptcy data provider on Wednesday, as the sluggish economy hurt sales and hindered businesses' ability to refinance heavy debt obligations.
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By Lynnley Browning
New York Times
Thursday, February 4, 2010
A suitcase containing $1 million in shrink-wrapped bills, hand-carried into New York by the former president of Gabon for his daughter to buy a Manhattan apartment.
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By Lucy Hornby and Ben Blanchard
Reuters
Thursday, February 4, 2010
China dismissed U.S. threats to get tough on trade and exchange rates to ensure American goods are not disadvantaged, saying on Thursday that its currency was at a reasonable level.
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By Svenja O’Donnell
Bloomberg
Thursday, February 4, 2010
The Bank of England paused its 200 billion-pound ($317 billion) bond-purchase plan and left open the option to buy more as officials gauge the health of the U.K.’s recovery.
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By James Quinn
Telegraph.co.uk
Thursday, February 4, 2010
The United States' top credit rating could be at risk should its nascent economic revival not develop into a full-blown recovery, Moody’s Investor Service has warned.
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By James West
MidasLetter.com
Wednesday, February 3, 2010
Rusoro Mining Ltd. (TSX.V:RML) could be one of the lowest cost gold producers in the world, now that Venezuela has devalued its currency. And this could present a curious dilemma for investors.
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By Barry Seargent
MineWeb
Wednesday, February 3, 2010
Listed gold stocks jump as much as 40% overnight, as dollar gold bullion records its best daily gain in three months.
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Globe and Mail
Wednesday, February 3, 2010
The Treasury Department says it expects to hit the government's debt ceiling by the end of February, putting pressure on Congress to raise the limit from its current level of $12.4-trillion.
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Bloomberg
Wednesday, February 3, 2010
The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.
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By Kathleen Madigan
Wall Street Journal
Wednesday, February 3, 2010
Last year was a terrible one overall for global trade. Volumes fell by 14.4%, according to the World Bank.
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By David Streitfield
New York Times
Wednesday, February 3, 2010
In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040.
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The Economist
Monday, February 1, 2010
Last year was a terrible one overall for global trade. Volumes fell by 14.4%, according to the World Bank.
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By David Reilly
Bloomberg
Monday, February 1, 2010
The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
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By Paul Volcker
New York Times
Monday, February 1, 2010
Here in the United States as elsewhere, some of the largest and proudest financial institutions — including both investment and commercial banks — have been rescued or merged with the help of massive official funds. Those actions were taken out of well-justified concern that their outright failure would irreparably impair market functioning and further damage the real economy already in recession.
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MyBankTracker.com
Monday, February 1, 2010
Last Friday proved to be another busy day for FDIC regulators as they made the closing rounds for six more banks.
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By Jonathan Weisman
Wall Street Journal
Monday, February 1, 2010
President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.
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By Dan Wilchins
Reuters
Monday, February 1, 2010
Banking insiders insist that President Barack Obama will find it tough to rein in their risk taking, but risk managers and others say regulators really can make a dent in Wall Street's casino culture.
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By Tania Brannigan
Guardian.co.uk
Tuesday, January 26, 2010
Since 2007, when South Africa fell behind, China has been the world's biggest gold producer. Now the World Gold Council and industry analysts believe it may have overtaken India – for centuries the dominant buyer – to become the biggest consumer too.
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By Justin Lahart
New York Times
Tuesday, January 26, 2010
Home sales plunged in December, raising fresh concerns over the housing market's ability to recover when government support winds down.
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By By Kim Kyoungwha and Nicholas Larkin
Bloomberg
Tuesday, January 26, 2010
Even after a record 57 percent rally last year, platinum is cheap relative to gold, signaling more gains as demand grows from carmakers and exchange-traded funds.
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By Jad Mouawad
New York Times
Tuesday, January 26, 2010
Despite a crippling recession and tight credit markets, the American wind power industry grew at a blistering pace in 2009, adding 39 percent more capacity.
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By Tania Brannigan
Guardian.co.uk
Tuesday, January 26, 2010
Since 2007, when South Africa fell behind, China has been the world's biggest gold producer. Now the World Gold Council and industry analysts believe it may have overtaken India – for centuries the dominant buyer – to become the biggest consumer too.
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By Peter Kovan
Financial Times
Monday, January 25, 2010
In the mad rush to secure lithium and rare-metals deposits around the world, a new player has grabbed the spotlight.
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By Charlotte Banks
Telegraph.co.uk
Monday, January 25, 2010
Last year proved to be a good one for hard commodities around the globe. Demand from emerging markets such as China held up better than expected in light of demand contraction in the West.
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By Ben Blanchard
Reuters
Monday, January 25, 2010
With the two giant nations joined at the hip economically, Sino-U.S. tensions are unlikely to escalate into outright confrontation, but could make cooperating on global economic and security issues all the more difficult.
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By Charles Bagvi
New York Times
Monday, January 25, 2010
The owners of Stuyvesant Town and Peter Cooper Village, the iconic middle-class housing complexes overlooking the East River in Manhattan, have decided to turn over the properties to creditors, officials said Monday morning.
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By Dave Simms
CBC News
Monday, January 25, 2010
An obscure phenomenon in the business world — the pricing of iron ore — is quickly escalating into a high stakes melodrama that some believe could end up benefiting Canadian iron-mining companies.
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By Chad Bray
Wall Street Journal
Friday, January 22, 2010
The December jobs report has doused the hope that we were at the beginning of a sustained economic recovery
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By Cary O’Reilly and Justin Blum
BusinessWeek
Friday, January 22, 2010
A Smith & Wesson Holding Corp. sales executive and a former U.S. Secret Service officer were among 22 officials at companies that supply law enforcement and the military who were charged with violating U.S. anti-bribery laws.
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By Mortimer Zuckerman
Wall Street Journal
Friday, January 22, 2010
The December jobs report has doused the hope that we were at the beginning of a sustained economic recovery
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By Zachary Kouwe
New York Times
Friday, January 22, 2010
Federal prosecutors on Thursday unveiled grand jury indictments against seven people in the wide-ranging insider-trading case involving the Galleon Group and numerous other hedge fund traders, lawyers and corporate executives.
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New York Times
Friday, January 22, 2010
Two former partners of the accounting firm Ernst & Young each have been sentenced in New York to more than two years in prison after they were convicted of tax shelter charges.
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By Howard Goller
Reuters
Thursday, January 21, 2010
Corporations can spend freely to support or oppose candidates for president and Congress, the Supreme Court ruled on Thursday in a landmark decision that allows massive sums to be spent to influence future elections. This is institutionalized corruption, pure and simple.
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By Edward Wong
New York Times
Thursday, January 21, 2010
China said on Thursday that its economy rose by 10.7 percent in fourth quarter compared with a year ago, as the country continued to surge forward even as many other nations are still trying to punch through the global recession.
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MSNBC
Wednesday, January 20, 2010
Federal Reserve Chairman Ben Bernanke took the unusual step Tuesday of asking Congress' investigative arm to conduct a "full review" of the Fed's role in bailing out insurance giant American International Group.
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By James West
MidasLetter.com
Tuesday, January 19, 2010
Mosquito Consolidated Gold Mines happens to the 100% owner of the world’s largest, as-yet-undeveloped molybdenum deposit on earth. The share price doubled when our coverage began, and so it is with no small satisfaction of our own that we continue to delve into the future of this elephantine opportunity.
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By Liana B. Baker
MarketWatch
Tuesday, January 19, 2010
Prices for molybdenum, a base metal used to make stainless steel, will likely rise 55% in the next two years, JP Morgan analysts said Thursday.
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By Brian S. Wesbury and Robert Stein
Forbes
Tuesday, January 19, 2010
In the past year, equity values have soared and a wide array of economic data has turned upward. But pessimism is still rampant. While different people worry about different things, conservatives focus on jobs and government policy.
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By Luca Di Leo
Wall Street Journal
Tuesday, January 19, 2010
The American Bankers Association said in a statement the consensus of bank economists is for an annualized GDP growth rate of around 3.1% throughout 2010.
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By Andrew Ross Sorkin
New York Times
Tuesday, January 19, 2010
Can a bank be too big? That was one of the more interesting questions to come up during the Financial Crisis Inquiry Commission hearing last week, though it was largely lost in all the coverage of bank chiefs being interrogated about bonuses and conflicts of interest.
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By Nicholas Larkin
Bloomberg.com
Tuesday, January 19, 2010
Twelve of 19 traders, investors and analysts surveyed by Bloomberg, or 63 percent, said bullion would rise next week.
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By James West
MidasLetter.com
Monday, January 18, 2010
Pan American Lithium Corp, (TSX.V:PL) is a brand new opportunity for investors interested in participating in the expected boom in lithium demand. But contrary to many of the junior companies rushing to throw their hats into the ring, Pan American Lithium is both well advanced and diversified in terms of locations and source types for lithium.
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ABC News
Monday, January 18, 2010
General Motors made its first mass-produced electric car battery Thursday as it gears up to sell the new Chevrolet Volt to the general public later this year.
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By Taiga Uranaka
Reuters
Monday, January 18, 2010
Toyota Motor Corp plans to increase global production of gas-electric hybrid cars to 1 million units in 2011, twice the volume of last year, as it tries to keep its leading position in the growing low-emission car market, the Nikkei business reported on Monday.
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By Graeme Wearden
Guardian.co.uk
Monday, January 18, 2010
Insolvency specialist says 140,000 firms are in financial difficulties and warns that those in trouble are collapsing faster than in previous recessions.
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By Dawn Kopecki
Bloomberg
Monday, January 18, 2010
About 25 percent of homeowners who received trial loan modifications through President Barack Obama’s main foreclosure prevention plan are failing to keep up with their new reduced payments, the Treasury Department said.
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BBC News
Monday, January 18, 2010
The International Monetary Fund head has warned that the global economy could experience another downturn - a so-called double dip recession.
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By Eric Pratt
MidasLetter.com
Friday, January 15, 2010
Junior oil producers are gushing into Colombia. The successes of Pacific Rubiales (PRE-TSX; $15.50) and Petrominerales (PMG-TSX; $22.40) in the South American country has spawned the creation of several new small, but well funded micro-cap plays.
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By James West
MidasLetter.com
Friday, January 15, 2010
Uracan Resources (URC-TSXv) continues to outline one of the largest new uranium deposits in North America. On January 12 they announced that the all of the last six holes in their 15 hole 2009 program hit mineralization, extending their near surface Double S deposit in southern Quebec to 1.5 km in length, and 750 m in width.
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Globe and Mail
Thursday, January 14, 2010
The risk that deteriorating government finances could push economies into full-fledged debt crises tops a list of threats facing the world in 2010, according to a report by the World Economic Forum.
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By Nouriel Roubini and Arpitha Bykere
Forbes
Thursday, January 14, 2010
In 2009, downgrades and debt auction failures in countries like the UK, Greece, Ireland and Spain were a stark reminder that unless advanced economies begin to put their fiscal houses in order, investors and rating agencies will likely turn from friends to foes.
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Globe and Mail
Thursday, January 14, 2010
The risk that deteriorating government finances could push economies into full-fledged debt crises tops a list of threats facing the world in 2010, according to a report by the World Economic Forum.
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By Clifford Krauss
New York Times
Thursday, January 14, 2010
Arabic script is about to appear on television sets across the country, with the Texas oilman T. Boone Pickens helpfully reading an English translation.
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Reuters
Thursday, January 14, 2010
U.S. foreclosure actions shattered all records in 2009 and will do so again this year, with unemployment and wage cuts overcoming programs to remedy failing home loans, RealtyTrac said on Thursday.
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By James West
MidasLetter.com
Wednesday, January 13, 2010
American Creek Resources (TSX.V:AMK) is betting that its proximity to Seabridge Gold’s (TSX:SEA, NYSE AMEX: SA) KSM deposit is going to be a contributing factor to the future value of its shares.
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The Economist
Wednesday, January 13, 2010
The cost of borrowing money, in nominal terms, has fallen sharply. Small wonder that one bubble after another has appeared in financial markets, with the subjects of investors’ dreams ranging from emerging markets and technology stocks in the 1990s to residential housing in the decade just ended.
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By Anrew Ross Sorkin
New York Times
Wednesday, January 13, 2010
For years, Wall Street whispered that Goldman Sachs profited handsomely by trading ahead of — or even against — its own clients.
On Tuesday, a Goldman executive made an unusual admission that, in some cases, the rumors were true.
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By Julie Haviv
Reuters
Wednesday, January 13, 2010
U.S. mortgage applications rose during the first week of 2010, reflecting a surge in demand for home refinancing loans as interest rates dropped, data from an industry group showed on Wednesday.
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By Daniel Kruger
Bloomberg.com
Wednesday, January 13, 2010
Investors are the most bearish on Treasuries in more than two years as the reliance on government debt to revive economic growth weighs on sovereign issues, a survey of Bloomberg users showed.
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By Suzanne Goldenberg
Guardian.co.uk
Wednesday, January 13, 2010
The average American consumes more than his or her weight in products each day, fuelling a global culture of excess that is emerging as the biggest threat to the planet, according to a report published today.
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By James West
MidasLetter.com
Tuesday, January 12, 2010
Imagine a great room and inside is a huge table set with the most sumptuous feast you can think of. At the table partaking in the feast are company founders, insiders, trading houses, very close friends, some relatives and merchant banks. It’s all the people that get first crack at those early stage financings in junior mining companies.
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By Cameron French
Reuters
Tuesday, January 12, 2010
A spate of hotly contested takeover deals in Canada's mining patch and steadily rising metal prices may drive busy dealmaking in 2010 after a lull in acquisitions last year, experts say.
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By Jon Hilsenrath, Brian Blackstone, and Jaeyeon Woo
Wall Street Journal
Tuesday, January 12, 2010
Politicians are taking bolder actions to influence monetary policy, signaling that the global financial crisis may end up reining in the independence of many central banks.
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Bloomberg
Tuesday, January 12, 2010
China unexpectedly raised the proportion of deposits that banks must set aside as reserves to cool the world’s fastest-growing major economy as a credit boom threatens to stoke inflation and create asset bubbles.
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By Kevin Plumberg
Reuters
Tuesday, January 12, 2010
Household income in China surged in the last six years, especially for top earners, putting the country on track to eclipse the United States as the biggest consumer market in a decade, Credit Suisse said in a report on Tuesday.
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By Neil Irwin
Wahington Post
Tuesday, January 12, 2010
Wall Street firms aren't the only banks that had a banner year. The Federal Reserve made record profits in 2009, as its unconventional efforts to prop up the economy created a windfall for the government.
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By James West
MidasLetter.com
Monday, January 11, 2010
Diamcor Mining (TSX.V: DMI), a Canadian company focused on the development of diamond producing assets, is closer than ever to putting its Krone-Endora Project, a major alluvial diamond project that the company acquired from De Beers, into production.
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By Neil Irwin, Annie Gowen and Ben Pershing
Wahington Post
Monday, January 11, 2010
The job market remained in a deep funk in December, according to a government report Friday showing that employers view the economic recovery as too weak and too fragile to begin hiring again on any large scale.
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By Ambrose Evans-Ptichard
Wall Street Journal
Monday, January 11, 2010
December was the worst month for US unemployment since the Great Recession began.
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By Zainab Fattah
BusinessWeek
Monday, January 11, 2010
The Federal Reserve will ask a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.
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By Matthew Walls
Wall Street Journal
Monday, January 11, 2010
Spot gold prices held firm in Europe Monday after jumping to a one-month high in Asia overnight following strong Chinese trade data.
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By David Glovin
Bloomberg
Monday, January 11, 2010
The Federal Reserve will ask a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.
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By Langi Chiang and Simon Rabinovitch
Reuters
Monday, January 11, 2010
Chinese bank lending surged in the first week of 2010, industry sources said on Monday, adding to the concerns fueled by blockbuster trade data for December that the world's third-largest economy is overheating.
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By Jason Rhodes
Reuters
Friday, January 8, 2010
The financial regulator broke Swiss bank secrecy law in February when it ordered UBS to hand over the files of nearly 300 clients to U.S. authorities, a Swiss court said on Friday.
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By Nicholas Larkin and Kim Kyoungwha
Bloomberg
Tuesday, January 5, 2010
Gold rose in New York, extending its biggest gain in two months, as a weaker dollar boosted the metal’s appeal as an alternative investment. Platinum and palladium reached the highest prices in at least 16 months.
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MSNBC
Tuesday, January 5, 2010
Consumers and businesses filed for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an Associated Press tally showed Monday.
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By Allen Sykora
Wall Street Journal
Monday, January 4, 2010
Gold futures jumped to start 2010, hitting their highest level in two weeks Monday as the U.S. dollar went on the defensive.
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Telegraph.co.uk
Monday, January 4, 2010
Warren Buffett delivered his worst performance against the US stock market in a decade last year.
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By Catherine Rampell
New York Times
Monday, January 4, 2010
Regulatory failure, not low interest rates, was responsible for the housing bubble and subsequent financial crisis of the last decade, Ben S. Bernanke, the Federal Reserve chairman, said in a speech on Sunday.
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Associated Press
Sunday, January 3, 2010
A record 20 million-plus Americans collected unemployment benefits at some point in 2009, a year that ended with the jobless rate at 10 percent.
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By Mark Hulbert
New York Times
Sunday, January 3, 2010
It’s an especially tantalizing prospect right now, after the market’s surge over the last nine months of 2009. Investors would love to see that trend continue into this year. Unfortunately, though, there is precious little statistical support for it.
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By Heather Mallick
Guardian.co.uk
Sunday, January 3, 2010
If there was a gold medal for shafting democracy at the Winter Olympics, Canadian Prime Minister Stephen Harper would win it. Just before the games open in Vancouver, he has halted parliament in its tracks, suspending it for the second time in little more than a year.
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By Paul R. La Monica
CNN Money
Sunday, January 3, 2010
The S&P 500 is up 23.5% this year, the worst appears to be over for big banks and Detroit and many economists are even predicting growth for the overall economy and job market in 2010. Still, people should not get overly excited.
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By Tim Johnstone
Financial Times
Sunday, January 3, 2010
Vietnam has ordered all gold trading floors to close by the end of March, ending a business that turns over $1bn a day but which the government feared was spinning out of control.
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By Iain Dey
TimesOnline.co.uk
Sunday, January 3, 2010
UK BANKS should be hit with penalties for hoarding cash at the Bank of England, under new proposals to stimulate the economy proposed by an influential business lobby group.
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By Rolfe Winkler
Reuters
Thursday, December 31, 2009
When your mortgage becomes a liability on the balance sheet of the originating bank, they write it off. You should do the same, according to Reuters columnist Rolfe Winkler.
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By Louise Armistead
Telegraph.co.uk
Wednesday, December 30, 2009
Goldman Sachs has moved to justify spending millions of dollars short-selling some of the financial products it made and sold to clients.
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By Michael Powell
New York Times
Wednesday, December 30 2009
Ten months ago President Obama announced a $75 billion program to keep as many as four million Americans in their homes by persuading banks to renegotiate their mortgages. Lenders have accepted more than one million applications and cut three-month trial deals with 759,000 homeowners. But they have converted just 31,000 of those to the permanent new mortgages that are the plan’s goal.
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Reuters
Wednesday, December 30, 2009
The combined holdings of Treasuries and agency securities by foreign central banks at the Fed fell $4.97 billion to a total of $2.954 trillion in the week ended December 23.
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By Francine Knowles
Chicago Sun Times
Tuesday, December 29 2009
Home foreclosures, which have pummeled many Chicago area neighborhoods, are expected to continue to mount in 2010, and high unemployment will be the driver, experts say.
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By Matt Walcoff
Business Week
Tuesday, December 29, 2009
The Standard & Poor’s 500 Index will collapse below its March lows as an expected rebound in economic growth fails to materialize, according to hedge fund manager Eric Sprott.
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By Katie Allen
Guardian.co.uk
Tuesday, December 29 2009
Rising unemployment, strained household incomes and a fragile economic backdrop are likely to push house prices lower in the coming year, according to the property research group Hometrack's latest housing market outlook.
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By Jim O’Neill
CNN Money
Monday, December 28, 2009
It is now more than eight years since we at Goldman Sachs first wrote about the BRIC concept—the idea that the emerging markets of Brazil, Russia, India, and China would come to play a new and more muscular role in the global economy. Throughout the period leading up to the collapse of Lehman Brothers, we often felt that the durability of the BRIC concept needed to be tested through an economic shock.
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CNN Money
Monday, December 28 2009
Chinese Premier Wen Jiabao on Sunday struck a defiant note about the country's controversial exchange rate policy, saying the government would not give into foreign demands to let the yuan rise.
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By Agnes T. Crane
New York Times
Monday, December 28, 2009
Investors in AAA rated debt are running out of options as Standard and Poors targets more nations sovereign debt ratings for downgrade.
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By David Roman
Wall Street Journal
Monday, December 28 2009
Strong dollar equals falling gold price, right? Except, perhaps, when Asia's central bankers are involved.
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By Peter Krauth
Money Morning
Monday, December 28, 2009
Forget about all the forecasts being made for 2010. Here's my prediction for 2015: An entirely new name - John A. Paulson - will grace the coveted top of the annual Forbes billionaires list.
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By Lewis Braham
NewsWeek
Monday, December 28 2009
They could be a smart inflation hedge in 2010. And some pros see a long-term bull market for oil, grain, and gold.
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Buenos Aires Herald
Wednesday, December 23, 2009
A Colombian governor kidnapped by FARC rebels was killed shortly after guerrillas snatched him in a surprise raid on his home and then fled into remote jungle, authorities said.
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By Janet Daley
Telegraph.co.uk
Wednesday, December 23, 2009
The dangerous idea that the democratic accountability of national governments should simply be dispensed with in favour of "global agreements" reached after closed negotiations between world leaders never, so far as I recall, entered into the arena of public discussion.
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By James West
MidasLetter.com
Tuesday, December 22 2009
First Gold Exploration (TSX:EFG) is moving quickly to test the potential and continuity at depth of spodumene dykes which in recent sampling yielded up to 2.48 % Li2O witch equals to 6.30% LI2CO3 at its recently acquired Pivert and Rose Lithium properties. LI2C03 sell for 3.25$ a pound.
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By Masatsugu Horie and Mariko Yasu
Bloomberg
Tuesday, December 22, 2009
Panasonic Corp. has developed a lithium-ion battery that has 10 percent more capacity than its most recent model introduced last week, two people familiar with the product said.
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Xinhua
Tuesday, December 22 2009
China's Ministry of Commerce (MOC) said Tuesday that annual overseas direct investment (ODI) from non-financial sectors is expected to top 42 billion U.S. dollars in 2009.
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By Eric Lipton
New York Times
Tuesday, December 22, 2009
A company controlled by the Chinese government has withdrawn its bid to buy majority control of a small Nevada gold mining operation after Obama administration officials, pointing to a nearby Navy air station, raised national security concerns about the deal.
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By Larry Elliott
Guardian.co.uk
Tuesday, December 22 2009
Figures come as ratings agency warns that the government must tackle the record budget deficit or risk a downgrade of the UK's debt.
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By Michael Hirsh
Newsweek
Tuesday, December 22, 2009
All the sins of Washington and Wall Street are being laid at the Fed chairman's door.
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By Devon Maylie
Wall Street Journal
Friday, December 11, 2009
Spot gold traded higher Friday as the dollar weakened and confidence returned to the markets.
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By James Dagleish
Reuters
Friday, December 11, 2009
The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, but a surprise narrowing in the trade gap in October indicated the economy remained firmly on a steady growth path.
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By Jeanne Sahadi
CNNMoney.com
Friday, December 11, 2009
The U.S. government rang up a deficit of $120.3 billion in November - the 14th straight month it has spent more than it has taken in.
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By James West
MidasLetter.com
Thursday, December 10, 2009
If you want to know where the price of uranium is going, just look at the stock chart for Cameco Corp (CCO:TSX, CCJ:NYSE). It is the world’s largest producer of uranium. As with any bellwether resource stock, it will forecast the price of its underlying commodity 6 months in advance.
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By Mark Whitehouse
Wall Street Journal
Thursday, December 10, 2009
Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard.
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By Keith Bradsher
New York TImes
Thursday, December 10, 2009
For the first time, Chinese will buy more cars this year than Americans. Demand is so high that drivers put their names on long waiting lists for the most popular models.
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By Miho Yoshikawa
Reuters
Thursday, December 10, 2009
Gold hit record highs over $1,220 an ounce on Thursday as the precious metal continued to attract investors looking for an alternative to the U.S. dollar.
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By Dan Levy
Bloomberg
Thursday, December 10, 2009
Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said.
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By Doug Shasha
Xinhua
Thursday, December 10, 2009
The U.S. economy is on a "modest growth path that will be accompanied by extraordinarily high rates of unemployment," according to the University of California, Los Angeles (UCLA) Anderson Forecast released Wednesday.
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By James West
MidasLetter.com
Wednesday, December 9, 2009
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has filed permit applications for a 16 hole diamond drill program to be conducted at its recently acquired Table Top gold project in Humboldt County, Nevada.
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By Les Christie
CNNMoney
Wednesday, December 9, 2009
American homeowners will have lost nearly $500 billion in home value by year's end.
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By Jan Harvey
Reuters
Wednesday, December 9, 2009
Gold rose nearly 1 percent in Europe on Wednesday, recovering from the three-week lows it hit in the previous session, as the dollar weakened against the euro on concern selling of the single currency had been overdone.
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By Javier C. Hernandez
New York TImes
Wednesday, December 9, 2009
Investors from Asia to Europe to Wall Street sent shares lower on Tuesday, distressed by signs of weakness in the global recovery amid talk of credit worries in Dubai and Greece.
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Associated Press
Wednesday, December 9, 2009
More of America's largest companies will shrink their staffs than will hire in the next six months, according to the latest survey of their CEOs.
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By Laura Litvan and Nicole Gaouette
Bloomberg
Wednesday, December 9, 2009
Americans have grown gloomier about both the economy and the nation’s direction over the past three months even as the U.S. shows signs of moving from recession to recovery.
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By James West
MidasLetter.com
Tuesday, December 8, 2009
Tarsis Resources' (TSX.V: TCC) project generator model is starting to yield some exciting results. Recent sampling from the company’s 100% owned Prospector Mountain property in southwestern Yukon, Canada, yielded grades as high as 82.2 grams per tonne gold, 5.97% copper, and 888 grams per tonne of silver.
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By Matthew Brown and Rocky Swift
Bloomberg
Tuesday, December 8, 2009
Moody’s Investors Service said its top debt ratings on the U.S. and the U.K. may “test the Aaa boundaries” because their public finances are worsening in the wake of the global financial crisis.
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By Leslie Adler
Reuters
Tuesday, December 8, 2009
The credit crisis that rocked U.S. residential mortgages and corporate credit markets may roil commercial real estate and sovereign debt markets next, senior investment managers said on Monday.
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By David Segal
New York TImes
Tuesday, December 8, 2009
When the financial crisis began, few players on Wall Street looked more ripe for reform than the Big Three credit rating agencies.
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By Mike Lillis
Washington Independent
Tuesday, December 8, 2009
For millions of unemployed workers, the recession is poised to go from bad to worse.
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ABC News
Tuesday, December 8, 2009
More than one-quarter of homeowners receiving help under a U.S. government foreclosure prevention plan are behind on their new mortgage payments, a Treasury Department survey has found.
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By James West
MidasLetter.com
Friday, December 4, 2009
Nevsun Resources Inc. (TSX, AMEX: NSU), currently 40% through construction on their Bisha Gold Project in Eritrea, Africa, has seen its future target share price steadily increasing, according to the reports of analysts who have visited the project.
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By Matt Whittaker
Wall Street Journal
Friday, December 4, 2009
Gold futures posted another record settlement Thursday, recovering from a slight swoon early in the session, as the metal continues to benefit from investor appetite for assets other than the U.S. dollar.
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By Andrea Coombs
MarketWatch
Friday, December 4, 2009
If you pick stocks for a living, a company's price-to-earnings ratio usually plays a part in your decision to buy or not to buy.
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By Rick MacDonald
NewsWeek
Friday, December 4, 2009
The U.S. employment report for November—scheduled for release Dec. 4—should provide some modestly encouraging news. Most labor market indicators signal a continued pattern of diminishing declines for U.S. nonfarm payrolls, and Action Economics estimates a 130,000 drop for November that would mark the smallest decline since a 128,000 drop in July 2008.
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By Justin Fox
TIME
Friday, December 4, 2009
The Federal Reserve system, that mysterious organization with the temple-like headquarters just off the Washington Mall and thick-walled outposts in cities across the land, is under assault.
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MSNBC
Friday, December 4, 2009
New unemployment claims have fallen for a fifth straight week, boosting expectations that the U.S. economy shed fewer jobs in November and remains on a path to recovery.
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By James West
MidasLetter.com
Thursday, December 3, 2009
Coral Gold (TSX.V: CLH) has literally been around forever, and with 3.4 million ounces of gold on the books in a N.I. 43-101 compliant resource in Nevada, it might be time for Coral Gold to join the ranks of companies who disappear to become part of the Barrick Gold (TSX, NYSE:ABX) portfolio.
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By Jan Harvey
Reuters
Thursday, December 3, 2009
Gold prices rallied to fresh record highs above $1,225 an ounce in Europe on Thursday as the dollar slid toward a 16-month low against the euro, fuelling buying of the metal as an alternative asset.
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By Pratima Desai
Forbes
Thursday, December 3, 2009
Gold hit a record high on Thursday as the weaker dollar sparked a rush to the safety of real assets, while expectations of hefty demand from Asia also pushed sugar to an all-time peak.
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Toronto Star
Thursday, December 3, 2009
The Toronto stock market closed higher Wednesday with much lift coming from mining stocks as bullion hit another record high close.
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By Belinda Cao
Bloomberg
Thursday, December 3, 2009
The world should pay more attention to the stability of the dollar rather than the value of China’s yuan, as the two currencies’ effect on the global economy is incomparable, China’s Commerce Minister Chen Deming said.
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By Javier C. Hernandez
New York Times
Thursday, December 3, 2009
The economy continues to show weak and sluggish signs of renewal, the Federal Reserve said on Wednesday, as banks wrestle with lackluster demand for loans and commercial real estate markets deteriorate.
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By James West
MidasLetter.com
Wednesday, December 2, 2009
Some mining companies understand very well the idea of positioning. First Gold Exploration (TSX:EFG) has put itself in a position to capture near term production revenue from precious metals in both Canada and Mexico, as well as give shareholders exposure to what is shaping up to be the Next Big Thing in mining – Lithium.
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By Mariko Yasu and Maki Shiraki
Bloomberg
Wednesday, December 2, 2009
Sanyo Electric Co., the world’s biggest maker of rechargeable batteries, has won at least two customers for its lithium-ion batteries for plug-in hybrid vehicles, an executive said.
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By William Hardy
New York Times
Wednesday, December 2, 2009
Gold hit record highs at $1,216.75 an ounce in Europe on Wednesday as investors bet on higher prices, with funds lengthening positions due to expectations of a fresh leg of dollar weakness and more central bank buying.
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By Lisa Scherzer
Smart Money
Wednesday, December 2, 2009
The U.S. Treasury Department is trying to give its foreclosure-prevention program some teeth, but economists are doubtful they will be sharp enough to keep people in their homes and contain the avalanche of foreclosures expected to hit the market.
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By Steve Ladurantaye
Globe and Mail
Wednesday, December 2, 2009
Office rents around the globe are falling at an unprecedented pace as recession-battered tenants abandon space just as construction wraps up on new buildings that were started before the recession began.
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By John W. Schoen
MSNBC.com
Wednesday, December 2, 2009
When President Barack Obama sits down with business leaders Thursday to talk about the ailing job market, the question he’ll ask is simple: How much more can — or should — the government do to get companies to start hiring again?
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By Jan Harvey
Reuters
Tuesday, December 1, 2009
Gold hit record highs near $1,200 an ounce on Tuesday as dollar weakness fuelled buying of the metal as an alternative asset, while investors speculating on further gains were cheered by its recovery from Friday's lows.
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By James West
MidasLetter.com
Monday, Novemeber 30, 2009
Oil’s recent price strength should be sufficient response to the question as to why Raytec Metals, a company that had been previously focused on the acquisition of Potash assets in Canada, would become Lion Energy Corp., (TSX.V:LEO), a now well capitalized TSX Venture company focused on hydrocarbons in Africa.
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By Ruth Simon
Wall Street Journal
Monday, Novemeber 30, 2009
In the latest move to bolster its $75 billion foreclosure-prevention plan, the Obama administration on Monday will outline new efforts designed to increase the number of borrowers who receive mortgage relief.
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By Alexander Kwiatkowski and Rachel Graham
Bloomberg
Monday, November 30, 2009
Crude oil traded above $76 a barrel as the United Arab Emirates central bank said it would back lenders against a possible default by Dubai World.
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By Jeff O. Opdyke
Wall Street Journal
Monday, Novemeber 30, 2009
With gold prices up 55% in the past year to $1,190 an ounce, investors have increasingly accumulated modern American Eagle one-ounce gold coins and U.S. $20 gold pieces minted between 1850 and 1933, containing nearly an ounce of gold.
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By Susanne Walker
Bloomberg
Monday, November 30, 2009
Less than a week after deflecting calls for his resignation, Timothy Geithner sold bonds on behalf of U.S. taxpayers at the lowest yields on record in a show of confidence in the Treasury Secretary’s policies.
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By William James
Reuters
Monday, Novemeber 30, 2009
Thirty global financial institutions have been selected for cross-border supervision exercises by regulators, the Financial Times reported on Monday.
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By James West
MidasLetter.com
Tuesday, November 24, 2009
ERA Carbon Offsets Ltd. (TSX.V:ESR) has already established itself as a cutting edge innovator in the field of carbon offset generation through reforestation and ecosystem bio-remediation. But what readers of MidasLetter.com have been consistently asking is “How big could this thing get.” After another month of research and interviews, we are pleased to respond with our conclusion: Very big indeed.
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By Jicole Mordant
Reuters
Tuesday, Novemeber 24, 2009
Canadian companies that want to voluntarily reduce their environmental impact will now be able to buy offset credits from a fund that will invest in green projects across the country.
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By Nicholas Larkin and Glenys Sim
Bloomberg
Tuesday, Novemeber 24, 2009
Gold gained for a third day in London on speculation central banks and investors will continue to purchase bullion.
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By Barbara Kiviat
Time
Tuesday, Novemeber 24, 2009
Over the past decade, some 3,000 U.S. companies have been bought by private-equity firms. Their M.O.? Suck up companies with borrowed money, make them more efficient and then resell, turning a profit in the process.
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By Julianne Pepitone
CNN Money
Tuesday, Novemeber 24, 2009
In a sign that more foreclosures could be on the horizon, 23% of people with mortgages owe more than their home is worth, according to a report released Tuesday.
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MSNBC
Tuesday, Novemeber 24, 2009
Remember the economy's return to growth last quarter? Well, it probably wasn't as energetic as first thought.
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FoxNews
Monday, Novemeber 23, 2009
n what is expected to be a quiet week, the bulls are ready to make some noise, according to TheStreet.com RealMoney Barometer Survey.
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CNN Money
Monday, November 23, 2009
The dollar fell broadly on Monday after comments from a Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period.
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FoxNews
Monday, Novemeber 23, 2009
The group of economists that declared the recession over in October said Monday that in the next few months, the recovery will no longer be jobless though the unemployment rate will remain high through the end of next year.
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By Edmund L. Andrews
New York Times
Monday, November 23, 2009
The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true.
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By Jan Harvey
Reuters
Monday, Novemeber 23, 2009
Gold hit a record high at $1,167.45 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fuelling momentum buying after the metal's sharp run higher earlier this month.
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By E. Scott Richard
Los Angeles Times
Friday, November 20, 2009
Mortgage Bankers Assn. says delinquencies and home repossessions have hit a new high. Blaming job losses for most of the pain, it sees a continued surge in foreclosures through all of next year.
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By James West
MidasLetter.com
Thursday, Novemeber 19, 2009
Macusani Yellowcake (TSX.V:YEL) is not exactly in the crosshairs of the uranium investing public at present, but that may change soon in view of a strengthening uranium price and continued exploration success on their deposits.
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By Tom Doggett
Reuters
Thursday, November 19, 2009
The U.S. Interior Department said on Wednesday it would immediately strengthen oversight of surface coal mining programs and draw up new regulations to protect streams polluted by mining operations.
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HedgeCo.Net
Thursday, Novemeber 19, 2009
Hedge fund manager John Paulson, of the $12.5 billion Paulson & Co. has plans to launch a fund dedicated to buying up shares of bullion-related investments.
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By Kevin Plumberg and Neil Chatterjee
Reuters
Thursday, November 19, 2009
Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, underscoring that deflation is still a threat, especially with commercial real estate prices falling.
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By Tami Luhby
CNNMoney
Thursday, Novemeber 19, 2009
One million people could lose unemployment benefits in January if Congress doesn't extend federal aid, according to a report released Wednesday.
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By Eric Dash
New York Times
Thursday, November 19, 2009
The coroner’s report left no doubt as to the cause of death: toxic loans.
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By James West
MidasLetter.com
Wednesday, Novemeber 18, 2009
Mosquito Consolidated (TSX:MSQ) CEO Brian McClay makes no bones about the prospects for his company. “How many companies are there that can say they have 50% of a major gold discovery as well as the largest un-mined open pit moly deposit in the world?” he asks.
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By Stephen Voss
Bloomberg
Wednesday, November 18, 2009
Commodities rose as the recovering world economy spurred demand for raw materials, sending gold to a record and mining stocks higher. Oil advanced for a third day as the dollar fell.
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Daily Mail
Wednesday, Novemeber 18, 2009
Gold prices hit a fresh high today as investors continued to worry about the return of inflation and economic uncertainties.
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By Mark Memmott
NPR
Wednesday, November 18, 2009
After taking a little time to play tourist at the Great Wall, President Barack Obama has flown from China to South Korea for the last stop on his tour of Asia.
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By Darcy Crowe and David Luhnow
Wall Street Journal
Wednesday, Novemeber 18, 2009
Venezuela's economy is suffering a deepening recession at a time when the rest of the world's economies are picking up steam, according to data released Tuesday by the country's central bank. That is bad news for the country's populist leader Hugo Chávez.
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By Jamie McGee
Bloomberg
Wednesday, November 18, 2009
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., may lose as much as $22.6 billion on investments in commercial real estate through 2011, Fitch Ratings said.
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By James West
MidasLetter.com
Tuesday, Novemeber 17, 2009
No matter what you think of Uranium, Strateco Resources Inc. (TSX:RSC, OTCBB: SRSIF) is demonstrating how an aggressive exploration company goes about getting a project into production. Strateco announced last week that they had filed all documentation necessary in relation to the Environmental Impact Study required by the Canadian Environmental Assessment Agency to obtain a licence for underground exploration at the Matoush uranium project.
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By Eileen AJ Connelly
Associated Press
Tuesday, November 17, 2009
The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.
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By Andrew Smith
Bloomberg
Tuesday, Novemeber 17, 2009
The banking industry's next headache - commercial real estate loan failures - is most likely to affect midsize regional banks, according to a Wall Street rating agency's report issued Monday.
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By Arron Smith
CNNMoney.com
Tuesday, November 17, 2009
Gold prices surged to record highs yet again Monday, topping $1,139 an ounce, as investors continue to favor the precious metal over currencies like the U.S. dollar.
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By Edmund L. Andrews
New York Times
Tuesday, Novemeber 17, 2009
The chairman of the Federal Reserve, Ben S. Bernanke, warned on Monday that high unemployment and a continued reluctance by banks to make loans were likely to slow the economic recovery for the next year.
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By Allen Sykora
Wall Street Journal
Tuesday, November 17, 2009
Portfolio managers of gold mutual funds are trying to bolster returns in a bull market by identifying mining stocks that might outperform others, focusing on factors such as production growth and cash flow.
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By James West
MidasLetter.com
Friday, Novemeber 13, 2009
Shares of NioGold Mining Corp (TSX.V:NOX) have doubled since January of this year, and the company’s recently announced plans to explore some new claims in a joint venture with Alexandria Minerals could see heightened interest in the company.
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By Bob Willis
Bloomberg
Friday, November 13, 2009
The trade deficit in the U.S. widened in September by the most in a decade, reflecting rising demand for imported oil and automobiles as the economy rebounded from the worst recession since the 1930s.
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By Douglas Rice
Forbes
Friday, Novemeber 13, 2009
The price of gold has skyrocketed and now is being touted as a must-have component of a well-diversified portfolio. But if we look beyond the hyperbole, much of which surely comes from those who already own gold and want the price to go higher, we find more risk than one might think.
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AFP
Friday, November 13, 2009
US unemployment, now in the double digits, may remain "high" for several years and dampen economy recovery from a brutal recession, a regional central bank official warned Tuesday.
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By David Streitfield
New York Times
Friday, Novemeber 13, 2009
The Federal Housing Administration, the government agency whose loan-insurance programs have become a crucial source of support for the housing market, said on Thursday that its cash reserves had dwindled significantly in the last year as more borrowers defaulted on their mortgages.
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Mineweb
Friday, November 13, 2009
Newmont Mining Corp (NEM.N: Quote) said on Thursday it expects output at Yanacocha -- one of Latin America's largest gold mines -- to hold steady in the next few years, contradicting an earlier forecast made by its partner.
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By James West
MidasLetter.com
Thursday, Novemeber 12, 2009
MAX Resource Corp (TSX.V:MXR) could have a lot more going for it than its press releases currently suggest. Major mining companies are on the prowl for juniors who can satisfy the production capabilities of certain assets whose original deposits are in a state of depletion.
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By Ben Rooney
CNNMoney
Thursday, November 12, 2009
Gold jumped to an all-time high Wednesday as the dollar depreciated, fueling demand for the metal as a hedge against the anemic greenback.
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BBC News
Thursday, November 12, 2009
The International Energy Agency (IEA) has warned that the recent rise in the price of oil "risks derailing the recovery" if it continues.
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By Gabor Steingart and Wieland Wagner
Der Spiegel
Thursday, November 12, 2009
When US President Barack Obama visits China this weekend, he will encounter a rival that sees the financial crisis as more of an opportunity than a threat. America, on the other hand, has been fundamentally weakened by the global crunch -- and is more dependent on the goodwill of the rising superpower than ever.
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Associated Press
Thursday, November 12, 2009
Canadian gold mining operator Kinross Gold Corp. said Wednesday that Export Development Canada has agreed to guarantee a letter of credit worth up to $125 million.
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By Landon Thomas Jr.
New York Times
Thursday, November 12, 2009
When Eastwind Maritime, a medium-size carrier company, went bankrupt this summer, few banks in the United States took notice.
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By James West
MidasLetter.com
Tuesday, November 10, 2009
Encore Renaissance (TSX.V:EZ) is in an enviable position. Their flagship asset, the Bonaparte Gold Mine 35 kilometres outside of Kamploops, B.C., has a group of veins with a sufficiently high enough grade that the company expects to explore their ground profitably. The company anticipates to start realizing some good cash flow from operation shortly.
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International Business Times
Tuesday, November 10, 2009
Precious metals spiked throughout yesterday's trading session; where gold continued to leap further towards new all time highs set at $1110.60 per ounce and returned to close at 1102.90, gaining 0.55%.
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By Barry Seargent
Mineweb.com
Tuesday, November 10, 2009
Don't be fooled by high dollar gold prices, don't be hoodwinked by flattering headlines from gold companies, and don't deny the patent overvaluations.
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By Mu Xuequan
Xinhua
Tuesday, November 10, 2009
The world economic recovery is still fragile, World Bank Senior Vice President and Chief Economist Justin Yifu Lin said Monday.
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United Press International
Tuesday, November 10, 2009
Today one out of every eight American homeowners with a mortgage (12.5 percent) is either in foreclosure or delinquent in their payments.
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New York Times
Tuesday, November 10, 2009
U.S. President Barack Obama said on Monday that he plans to raise the issue of the yuan currency with Chinese officials when he meets with them in Beijing next week, a potentially disruptive topic for foreign exchange markets.
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By James West
MidasLetter.com
Monday, November 9, 2009
Assaying an impressive 41 metres at 3.32 grams per tonne gold, this first hole from the long-awaited drill program on Canaco’s Mogambazi prospect in Tanzania represents the discovery of a new gold-bearing geologic structure.
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By Jan Harvey
Reuters
Monday, November 9, 2009
Gold hit a record high above $1,110 an ounce in Europe on Monday as the dollar index slid 1 percent on expectations U.S. interest rates will remain low, boosting interest in the metal as an alternative asset.
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Zacks
Monday, November 9, 2009
Regulators shut down 5 more banks in Georgia, Michigan, Minnesota, Missouri and California; tally hits 120 so far this year
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By David S. Morgan
CBS News
Monday, November 9, 2009
With gold prices surging comes a new surge in gold mining in the far north.
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By Ben Rooney
CNNMoney.com
Monday, November 9, 2009
The dollar fell broadly Monday, with the euro climbing above $1.50, after a report from the International Monetary Fund suggested the U.S. currency could fall further.
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By Roger Vincent
Los Angeles Times
Monday, November 9, 2009
After spending more than a year in suspended animation, the commercial real estate industry is expected to hit bottom in 2010 with a wrenching thud.
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By Greg Keller
Associated Press
Friday, November 6, 2009
Despite signs of an economic revival gathering pace around the globe, the millions of people laid off during the worst recession in 70 years are unlikely to see relief any time soon as joblessness is still climbing in many of the world's largest economies.
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By Alexandre Deslongchamps
Bloomberg
Friday, November 6, 2009
Canadian employers unexpectedly fired workers in October and the unemployment rate rose more than expected, suggesting the U.S.’s largest trading partner hasn’t fully recovered from the recession that began last year.
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Wall Street Journal
Friday, November 6, 2009
The U.S. jobless rate jumped up 0.4 percentage point to 10.2% in October, the highest level since April 1983. The government’s broader measure of unemployment shot up even more, rising half a point to 17.5%.
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By Andrew Clark
Guardian.co.uk
Friday, November 6, 2009
The US unemployment rate has broken through 10% for the first time since the early 1980s in a fresh sign of financial misery at grassroots level in the world's biggest economy.
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By Paul Tharp
New York Post
Thursday, November 5, 2009
Investors are struggling to find which way is up as the world's central bankers turned their backs on paper money and bonds to hoard more gold, now at highs near $1,100 an ounce.
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By Erin Ailworth
Boston Globe
Thursday, November 5, 2009
Microsoft Corp. is eliminating 800 jobs worldwide, including several dozen in Massachusetts, as part of a larger effort to cut costs and increase efficiency, a spokesman said yesterday.
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Telegraph.co.uk
Thursday, November 5, 2009
The Bank of England has expanded its radical programme of printing money by a further £25 Billion today as the fight against the deepest downturn for decades is stepped up.
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By Willia Pesek
Bloomberg
Thursday, November 5, 2009
Developing nations are supposed to keep their excess cash in Treasuries, the U.S. president and his Treasury secretary are no doubt thinking. Gold? That relic of the past that doesn’t pay interest or dividends and can’t be eaten? A fool’s game best left to the dinosaurs out there.
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By Michael Cooper and Ron Nixon
New York Times
Thursday, November 5, 2009
In June, the federal government spent $1,047 in stimulus money to buy a rider mower from the Toro Company to cut the grass at the Fayetteville National Cemetery in Arkansas. Now, a report on the government’s stimulus Web site improbably claims that that single lawn mower sale helped save or create 50 jobs.
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By James West
MidasLetter.com
Wedensday, November 4, 2009
Did you buy any shares of Ventana Gold earlier this year for $0.80 or less? No? Well, that’s too bad. You’d be well pleased if you had. Ventana shares are above $10 per share today, and the news just keeps getting better.
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By Bill Rochelle and Michael Bathon
Bloomberg
Wednesday, November 4, 2009
More Americans filed bankruptcy in October than in any month since changes to U.S. bankruptcy laws in 2005 as unemployment and falling home prices prevented consumers from paying their debts.
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By Robert Schroeder
MarketWatch
Wednesday, November 4, 2009
The pace of job creation will lag even as the U.S. economy recovers, White House budget director Peter Orszag warned Tuesday, adding that the coming months "will continue to be difficult ones for American workers."
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By Ben Rooney
CNN Money
Wednesday, November 4, 2009
The precious metal continues to push higher in electronic trading after closing at an all-time high in the previous session.
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By Brian Swint and Mark Barton
Bloomberg
Wednesday, November 4, 2009
Jim Rogers, the investor who predicted the start of the commodities rally in 1999, said that Nouriel Roubini is wrong about the threat of bubbles in gold and emerging-market stocks.
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By Daniel Gross
Newsweek
Wednesday, November 4, 2009
Here's a puzzle: The stock markets are doing very well, yet the performance of the underlying economy doesn't seem to justify optimism.
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By James West
MidasLetter.com
Tuesday, November 3, 2009
Its very seldom that a great new technology comes along that can actually change some aspect of a mature industry in such a way as to revolutionize it. Yet Wescorp Energy’s (OTCBB:WSCE) H2Omaxx water remediation system is about to do just that.
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Press Release
Tuesday, November 3, 2009
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has received assay results from additional soil sampling completed at the East Manhattan Wash gold project in Nevada.
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By Norm Alster
Investors Business Daily
Tuesday, November 3, 2009
Housing may be starting to turn the corner. But commercial real estate's woes may be just beginning.
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By Stephen Wright
Associated Press
Tuesday, November 3, 2009
World stock markets were lower Tuesday despite improvement in U.S. manufacturing as doubts lingered about the durability of a rebound in the world's largest economy.
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By Jennifer Costello
Reuters
Tuesday, November 3, 2009
Commercial bankruptcies among the nation's more than 25 million small businesses increased by 44% from the third quarter of 2008 to the third quarter of 2009, according to Equifax Inc. (NYSE:EFX), which analyzes its comprehensive small business database for the on-going study.
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By Thomas Kutty and Kim Kyoungwha
Bloomberg
Tuesday, November 3, 2009
India, the world’s biggest gold consumer, bought 200 tons from the International Monetary Fund for $6.7 billion as central banks show increased interest in diversifying their holdings to protect against a slumping dollar.
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By James West
MidasLetter.com
Monday, November 2, 2009
Millrock Resources (TSX.V: MRO) has adopted the business model that is characteristic of companies that are able to weather difficult economic times and excel at delivering shareholder value during such crises.
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By Rebekah Curtis
Globe and Mail
Monday, November 2, 2009
Gold rose above $1,050 (U.S.) an ounce on Monday, wiping out most of the previous week's losses, as dollar weakness made bullion cheaper for holders of other currencies.
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Boston Globe
Monday, November 2, 2009
Las Vegas had the highest US foreclosure rate in the third quarter, followed by cities in California and Florida, as unemployment left more borrowers unable to make their mortgage payments, RealtyTrac Inc. said.
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By Robb M. Stewart
Wall Street Journal
Monday, November 2, 2009
Global investment in gold remains strong and the market has stayed buoyant despite the rising price of the metal, helping to offset depressed demand for jewelry in all major markets outside of China, AngloGold Ashanti Ltd. (NYSE:AU) said Monday.
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Associated Press
Monday, November 2, 2009
Lender CIT Group has filed for bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing to the thousands of mid-sized and small businesses.
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By Chris Isidore
CNNMoney
Monday, November 2, 2009
Even though the nation's economy showed growth in the third quarter for the first time in more than a year, don't assume that the Great Recession of 2008-09 is overThe economy is growing again. So when are the jobs that go with growth going to get here?.
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By Lu Jianxin and Edmund Klamann
Reuters
Friday, October 30, 2009
The ChiNext stock market, China's long-awaited Nasdaq-style second board, debuted on Friday with a speculative surge that more than doubled the price of all 28 stocks during intraday trade -- a good sign for companies lining up to list on China's stock markets.
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By John W. Schoen
MSNBC
Friday, October 30, 2009
Even though the nation's economy showed growth in the third quarter for the first time in more than a year, don't assume that the Great Recession of 2008-09 is over.
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By Nancy Cook
Newsweek
Friday, October 30, 2009
Forget the subprime-mortgage borrowers. This latest wave in the foreclosure crisis is hitting homeowners hurt by unemployment.
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By Andrea Hotter
Wall Street Journal
Friday, October 30, 2009
Gold bulls will need to further steel their nerves Thursday as broader financial-market attitudes toward risk turn increasingly averse, leaving the precious metal on the back foot.
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By Grigori Gerenstein and William Mauldin
Wall Street Journal
Wednesday, October 28, 2009
Russia postponed an unprecedented plan to sell gold worth up to $1.7 billion on the international market after word of the sale was leaked to local news media.
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By Julianne Pepitone
CNN Money
Wednesday, October 28, 2009
While foreclosure rates are easing in some of the hardest-hit cities, the crisis is beginning to expand into new metro areas.
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By Scott Cendrowski
CNNMoney
Wednesday, October 28, 2009
A year ago investors fled small gold mining stocks as the desire for high-risk assets evaporated.
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By Jonathan Weisman
Wall Street Journal
Wednesday, October 28, 2009
Americans are growing increasingly pessimistic about the economy after a mild upswing of attitudes in September.
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By David Streitfeld
New York Times
Wednesday, October 28, 2009
Even as new figures show house prices have risen for three consecutive months, concerns are growing that the real estate market will be severely tested this winter.
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By Rupert Neate
Telegraph.co.uk
Tuesday, October 27, 2009
A massive government stimulus package and more than $1 trillion (£613bn) of new bank lending helped the Chinese economy jump 8.9pc in the third quarter. However, Mr Roach warned that China still faces "tough challenges in the years ahead".
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By Dawn McCarty
Bloomberg
Tuesday, October 27, 2009
Capmark Financial Group Inc., the lender owned by companies including Goldman Sachs Group Inc. and KKR & Co., filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion.
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By Michael Hirsch
Newsweek
Tuesday, October 27, 2009
"Large swaths of economics are going to have to be rethought on the basis of what's happened." So said Larry Summers, President Obama's chief economic adviser, in an interview in the weeks after the markets crashed a year ago. Yet to a remarkable degree, economic thinking hasn't changed very much at all.
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By Larry Elliott
Guardian.co.uk
Tuesday, October 27, 2009
Germany and France have done it. Japan has done it. On Thursday the expectation is that the US will also have done it, with official figures showing the world's biggest economy emerging from one of its deepest post-war slumps, with robust growth in the third quarter of 2009.
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By Michael Hirsch
Newsweek
Tuesday, October 27, 2009
"Large swaths of economics are going to have to be rethought on the basis of what's happened." So said Larry Summers, President Obama's chief economic adviser, in an interview in the weeks after the markets crashed a year ago. Yet to a remarkable degree, economic thinking hasn't changed very much at all.
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By Sakthi Prasad
Reuters
Tuesday, October 27, 2009
Anonymous trading venues known as "dark pools" are a technological evolution that have benefitted both institutional and retail trading by bringing down transaction costs, Goldman Sachs Group Inc (GS.N) said in a memo to the Securities and Exchange Commission.
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By Michael R. Crittenden
Wall Street Journal
Monday, October 26, 2009
The chairman of the Senate panel tasked with overseeing the credit-card industry moved Monday to impose an immediate freeze on credit card interest rates.
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By Ambrose Evans-Pritchard
Telegraph.co.uk
Monday, October 26, 2009
Spokane, Washington-based Gold Reserve Inc has turned away individuals “apparently” from the Venezuelan State miner CVG-Minerven, from the company's Brisas property.Biofuel refineries in the US have set fresh records for grain use every month since May. Almost a third of the US corn harvest will be diverted into ethanol for motors this year, or 12pc of the global crop.
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By Stephen Labaton
New York TImes
Monday, October 26, 2009
Congress and the Obama administration are about to take up one of the most fundamental issues stemming from the near collapse of the financial system last year — how to deal with institutions that are so big that the government has no choice but to rescue them when they get in trouble.
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By Leizel Hill
Creamer's Mining Weekly
Monday, October 26, 2009
Spokane, Washington-based Gold Reserve Inc has turned away individuals “apparently” from the Venezuelan State miner CVG-Minerven, from the company's Brisas property.
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By James West
MidasLetter.com
Friday, October 23, 2009
Max Resource Corp (TSX.V:MXR) has completed drilling one gold property in British Columbia right now, and will start drilling on another gold property in Nevada very soon.
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By Edmund L. Andrews
New York Times
Friday, October 23, 2009
One of President Obama’s top economic advisers warned on Thursday that the nation’s unemployment was likely to climb above 10 percent by the middle of next year and that job growth would remain anemic through the end of 2010.
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By Allan H. Meltzer
Wall Street Journal
Friday, October 23, 2009
The United States is headed toward a new financial crisis. History gives many examples of countries with high actual and expected money growth, unsustainable budget deficits, and a currency expected to depreciate.
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Reuters
Friday, October 23, 2009
ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday gold prices could rise as high as $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth.
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By Andrew Batson
Wall Street Journal
Friday, October 23, 2009
China's recovery is becoming broader and potentially more sustainable, a shift that could provide better support for a still-fragile global economy.
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By David Milliken and Christina Fincher
Reuters
Friday, October 23, 2009
Britain's economy contracted unexpectedly in the third quarter of this year, official data showed on Friday, quashing hopes the downturn was ending and instead marking the longest recession on record.
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By James West
MidasLetter.com
Thursday, October 22, 2009
Evolving Gold (TSX.V:EVG) released results today from its ongoing drill program in the Rattlesnake Hills area of central Wyoming.
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By Jonathan Weil
Bloomberg
Thursday, October 22, 2009
Only two U.S. bank-holding companies, JPMorgan Chase & Co. and Bank of America Corp., held greater amounts of derivatives than Goldman as of June 30, according to the Office of the Comptroller of the Currency. Citigroup Inc., which would be dead already if it hadn’t been too big, was No. 5 on that list.
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By Peter Hong
Los Angeles Times
Thursday, October 22, 2009
Signs are emerging that a much-feared escalation of California home foreclosures may not happen, as banks respond to government pressure and scale back their repossessions of troubled properties.
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New York Times
Thursday, October 22, 2009
The number of newly laid-off workers seeking unemployment benefits likely ticked up last week, after dropping sharply the previous two weeks.
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By Barry Seargent
MineWeb
Thursday, October 22, 2009
Who needs new gold discoveries, when 43 companies have outlined 427m ounces of unmined gold, valued at a mere average US$58/oz?
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By Joshua Keating
ForeignPolicy.com
Thursday, October 22, 2009
What the global battery boom means for the future of South America's poorest country.
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By David Lawder
Reuters
Wednesday, October 21, 2009
Implementing tougher new credit card disclosure rules more quickly could help consumers but could also lead to unintended consequences and bank compliance problems, Federal Reserve Chairman Ben Bernanke said on Wednesday.
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By John Kell
Wall Street Journal
Wednesday, October 21, 2009
Investment sage Warren Buffett said that while the economy won't return to its former glory in the near term, the low point has already passed, with "enormous" progress being seen over the past year.
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By John Chadwick
Mineweb
Wednesday, October 21, 2009
China is leading the global mining industry in more ways than one. Both its demand for metals and the capital it is making available to foreign mining companies are benefitting the global mining industry.
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By Andy Hoffman
Globe and Mail
Wednesday, October 21, 2009
For uranium giant Cameco Corp., the shoe is now on the other foot. The good one, this time.
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By Louis Uchitelle
New York Times
Wednesday, October 21, 2009
Listen to a top economist in the Obama administration describe Paul A. Volcker, the former Federal Reserve chairman who endorsed Mr. Obama early in his election campaign and who stood by his side during the financial crisis.
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By James West
MidasLetter.com
Tuesday, October 20, 2009
Uracan Resources announced some of the highest uranium grades ever found at surface, in a new zone of their North Shore Property in Quebec.
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By James West
MidasLetter.com
Tuesday, October 20, 2009
New Gold continued lowering its cash cost per ounce of gold produced with the release of its third quarter overview on Monday.
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By James West
MidasLetter.com
Tuesday, October 20, 2009
The Consumer Price Index numbers released by the U.S. Bureau of Labor Statistics suggest price inflation for consumer goods appears to be emerging.
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By Jeff Nielson
Seeking Alpha
Tuesday, October 20, 2009
It has gone from irritating to nauseating listening to media market-pumpers talking about an “U.S. economic recovery” which has supposedly already begun.
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By Jan Harvey
Reuters
Tuesday, October 20, 2009
Gold held above $1,060 an ounce in Europe on Tuesday as persistent weakness in the dollar fueled buying of the precious metals as an alternative asset.
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By Lawrence Williams
MineWeb
Tuesday, October 20, 2009
A copper price scenario that suggests a sharp fall, followed by a boom, followed by an even more precipitous collapse as the world dips into a second phase of this current recession.
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By Charles Goyette
TheStreet.com
Tuesday, October 20, 2009
All the chatter that accompanied gold hitting new highs this month made it hard not to think of "the gnomes of Zurich."
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By Peter S. Goodman
New York Times
Monday, October 19, 2009
The first night after she surrendered her house to foreclosure, Sheri West endured the darkness in her Hyundai sedan. She parked in her old driveway, with her flower-print dresses and hats piled in boxes on the back seat, and three cherished houseplants on the floor.
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By James West
MidasLetter.com
Friday, October 16, 2009
Max Resource Corp (TSX.V:MXR) is drilling one gold property in British Columbia right now, and will start drilling on another gold property in Nevada very soon. Two drill programs means two good reasons to buy the stock, if your risk tolerance is high.
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By Bill Dedman
MSNBC.com
Friday, October 16, 2009
The recession finally ended in August in one out of every five metro areas in the United States, especially in the Midwest and Great Plains, according to the latest Adversity Index from Moody's Economy.com and msnbc.com.
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By Eric Dash
New York Times
Friday, October 16, 2009
After pulling off two consecutive quarterly profits, Citigroup slipped to a loss of $3.2 billion in the third quarter as spiraling consumer losses overwhelmed its strong trading results.
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By Chris Flood
Financial Times
Friday, October 16, 2009
US crude oil pushed above the $78 a barrel mark on Friday, reaching a fresh 2009 peak, while sugar prices rose and gold traded around the $1,050 level after hitting a record high earlier this week.
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By David Ellis
CNNMoney
Friday, October 16, 2009
Bank of America suffered a $2.2 billion dollar loss in the latest quarter, the company said Friday.
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By Phil Wahba
Reuters
Friday, October 16, 2009
Billionaire investor and philanthropist George Soros said on Thursday that the world's current "currency arrangements" are fraught with danger and that the world needs global regulation.
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Thursday, October 15, 2009
Glittering bait for the well-heeled shopper: Harrods department store has added gold bars to its merchandise line.
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By James Quinn
Telegraph.co.uk
Thursday, October 15, 2009
Goldman Sachs is under fresh fire after revealing its compensation pot is on track hit a record $22bn (£13.5bn) this year after the bank set aside more for pay and bonuses in nine months than in the whole of last year.
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China People's Daily
Wednesday, October 14, 2009
China and Russia pledged to enhance communication and cooperation concerning finance, taxation and banking to deal with the global financial crisis, said a joint communiqué released Wednesday by the two countries.
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By Daniel Gross
NewsWeek
Wednesday, October 14, 2009
From the moment it passed, the $787 billion American Recovery and Reinvestment Act—the stimulus bill—has been the subject of controversy.
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By Elinor Comlay
Reuters
Wednesday, October 14, 2009
JPMorgan Chase & Co said quarterly profit rocketed to $3.6 billion, topping Wall Street expectations, as stock underwriting and bond trading revenue surged.
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By James West
MidasLetter.com
Tuesday, October 13, 2009
In Canada, the largest purveyor of forest based carbon offsets, or Verified Emission Reductions (VER’s) as they are officially called, is ERA Carbon Offsets Ltd., (TSX.V:ESR) a newcomer to the TSX Venture exchange, but a company that has been growing for half a decade.
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By Jan Harvey
Globe and Mail
Tuesday, October 13, 2009
Gold hit a record $1,065.25 (U.S.) an ounce in Europe on Tuesday as the U.S. dollar fell to day lows versus the euro, fuelling interest in bullion as an alternative asset.
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By Tamawa Desai
Reuters
Tuesday, October 13, 2009
The dollar and commodities are often inversely correlated, with gold and oil priced in dollars and seen as an alternative currency and hard asset themselves.
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By Alix Steel
TheStreet.com
Tuesday, October 13, 2009
Jim Rogers, the contrarian investor and author, says gold will hit $2,000 in the next five to 10 years.
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Bullion Vault
Tuesday, October 13, 2009
Speculation that interest in Gold Investment could heighten has continued to support the yellow metal's surge, Bloomberg reports.
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By James West
MidasLetter.com
Friday, October 9, 2009
Having just returned from a trip to Peru last week to visit Focus Ventures Ltd.’s (TSX.V:FCV) Nueva California project, I feel compelled to state right at the top that standing outside one of the main adits of this mine, another was visible across the valley some 35 km distant.
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By James West
MidasLetter.com
Thursday, October 8, 2009
Besides the conference, my main reason for visiting Colombia was to visit a project held by Antioquia Gold Corp (TSX.V:AGD)., one of only a handful of publicly traded mining exploration companies operating in Colombia whose relative obscurity only adds to the opportunity.
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By Javier Blas
Financial Times
Thursday, October 8, 2009
Barclays Capital said gold prices, which have risen 10.3 per cent since the end of August, could run to as high as $1,500 an ounce if previous technical trading patterns were extrapolated.
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By Paul Farrow
Telegraph.co.uk
Thursday, October 8, 2009
Gold has risen to a record high again – but where will the price go next? Should investors look to take profits or hang on for further gains?
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By Randall W. Forsyth
Barron's
Thursday, October 8, 2009
Water flows downhill, goes the hoary adage, but the same can't be said for credit.
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By Stephanie Rosenbloom
New York Times
Thursday, October 8, 2009
The dollar came under further pressure on Thursday as optimism over the propects for global growth stemmed haven demand for the US currency.
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By Stephanie Rosenbloom
New York Times
Thursday, October 8, 2009
The good news for retailers in September is that sales were the best they have been all year.
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By James West
MidasLetter.com
Wednsday, October 7, 2009
Rye Patch Gold (TSX.V:RPM) has a single corporate objective. Prove up somewhere in the neighbourhood of 10 million ounces of gold and equivalents, and sell the company lock stock and barrel to one of the majors operating in Nevada who need replacement ounces.
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By Ben Rooney
CNNMoney
Wednsday, October 7, 2009
Gold continued to push higher into record territory Wednesday amid concerns about a weak dollar, inflation and technical-based buying by large investment funds.
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By Pham-Duy Nguyen
Bloomberg
Wednsday, October 7, 2009
 Gold’s rally to a record shows commodity investors remain concerned that the U.S. economic recovery will spur inflation even as Wall Street forecasts and government bonds suggest stable prices.
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By James Regan and Amena Bakr
Reuters
Wednsday, October 7, 2009
Gold's run to a record $1,048.20 per ounce on Wednesday was greeted cautiously by consumers in Asia and the Middle East, with some cashing in gains while the majority were hanging on for further rises.
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By Frank Ahrens
Washington Post
Wednsday, October 7, 2009
The U.S. dollar continued its six-month slide Tuesday amid a growing international chorus that wants the dollar replaced -- or at least supplemented -- as the world's reserve currency, a move that would end the greenback's six decades of global dominance.
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By Jenny Anderson
New York Times
Wednsday, October 7, 2009
A year after Washington rescued the big names of American finance, it’s still hard to get a loan. But the problem isn’t just tight-fisted banks.
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By James West
MidasLetter.com
Tuesday, October 06, 2009
In case you haven’t heard, there’s a new mine going into production in a small African country called Eritrea. Nevsun Resources (TSX-NSU, AMEX-NSU) expects to commence production at a jaw-dropping rate of 431,000 ounces per year of gold and 702,000 ounces of silver.
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Associated Press
Tuesday, October 6, 2009
Record gold prices in New York trading Tuesday sent shares of precious metals miners soaring.
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By Pham-Duy Nguyen, Nicholas Larkin and Kim Kyoungwha
Bloomberg
Tuesday, October 6, 2009
Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the precious metal for investors seeking to preserve their wealth.
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By Chris Flood
Financial Times
Tuesday, October 6, 2009
Gold prices hit a new record above $1,036 an ounce on Tuesday as the dollar lost ground following reports that the US currency’s critical role in global oil trading was coming under scrutiny.
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Associated Press
Tuesday, October 6, 2009
The dollar fell Tuesday towards year lows against the euro and the yen after a report that Arab states and other countries were contemplating an end to the U.S. currency's role in the pricing oil.
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By Paul R. La Monica
CNNMoney
Tuesday, October 6, 2009
More and more economists are talking about how they think the economy actually grew in the third quarter. Unfortunately, it might be hard to find evidence of that once companies start reporting their latest quarterly results.
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By James West
MidasLetter.com
Monday, October 5, 2009
It wasn't that long ago that Forbes Magazine, a widely read yet thinly fact-checked business tabloid, launched a campaign to discredit Robert Friedland and Ivanhoe Mines.
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By Sara Murray
Wall Street Journal
Monday, October 5, 2009
Consumer bankruptcies topped one million for the first nine months of this year, the highest point since the system was overhauled in 2005.
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By Chris Gallagher
Reuters
Monday, October 5, 2009
Gold stayed above $1,000 an ounce on Monday as the dollar remained pressured after last week's jobs
data pushed the currency down broadly on concerns the U.S. economic recovery may not be as robust as previously thought.
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By Mark Gongloff
Wall Street Journal
Monday, October 5, 2009
Gold is traditionally a safe haven, but it hasn't behaved like one lately. So far this year, the precious metal is up 13.5% to more than $1,000 an ounce, topping out at a record-high $1,018.90 in mid-September.
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The Economist
Monday, October 5, 2009
The global economic crisis was accompanied by a collapse in house prices in most rich (and some not-so-rich) countries around the world.
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By Ylan Q. Mui
Washington Post
Monday, October 5, 2009
The fragile economic recovery has relied heavily on government stimulus spending, but new data show that as the money runs out, a sustained rebound may be elusive.
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By Chris Flood
Financial Times
Thursday, October 1, 2009
Gold held above the $1,000 mark on Thursday while oil prices slipped after a sharp rise in the previous session.
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By Julianne Pepitone
CNNMoney
Thursday, October 1, 2009
The number of first-time filers for unemployment insurance jumped last week, according to a government report issued Thursday, with the increase exceeding economists' forecasts.
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By Michael Hirsh
Newsweek
Thursday, October 1, 2009
Remember Arthur Andersen? The giant accounting firm ceased operation in 2002 after authorities learned that its auditors had shredded documents related to Enron's fraudulent schemes and were probably complicit in those practices.
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By Marie Leone
CFO.com
Thursday, October 1, 2009
One of the reasons the global financial crisis took the world by surprise may be that our measurement system failed. That is, market participants and government officials were not focused on the right set of statistical indicators, claims a report from a panel of top economists led by Nobel Prize winners Joseph Stiglitz and Amartya Sen.
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By Dan Freed
TheStreet.com
Thursday, October 1, 2009
The U.S. Treasury's $2.33 billion preferred stock investment in CIT Group(CIT Quote) stands a good chance of being wiped out entirely in what would be the biggest loss to date for the Capital Purchase Program (CPP) launched in October under the Bush administration and largely defended by the Obama administration.
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By James West
MidasLetter.com
Wednesday, September 30, 2009
Investors in Colossus Minerals Inc. (TSX:CSI) were pleasantly surprised by the company’s press release today that announced drill core assay results of 70.7 metres that graded 53.6 grams per tonne gold and 20.77 grams per tonne platinum.
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By Rob Delaney
Bloomberg
Wednesday, September 30, 2009
Kinross Gold Corp., Canada’s third- largest producer of the precious metal, may increase output by about 57 percent in the next five years if it proceeds with projects under evaluation in South America.
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By Jessica Holzer
Wall Street Journal
Wednesday, September 30, 2009
Lenders stepped up efforts to help strapped borrowers during the second quarter of 2009, but their actions weren't enough to stem rising mortgage delinquencies and foreclosures, a federal banking regulator reported Wednesday.
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By Lynn Adler
Reuters
Wednesday, September 30, 2009
U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said on Wednesday, in another sign that housing will likely recover slowly from its three-year plunge.
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By Carter Dougherty
New York Times
Wednesday, September 30, 2009
The International Monetary Fund said Wednesday that “the global economy has turned a corner” after the harrowing start to 2009, but that only a thorough restructuring of the financial system could prevent a return to crisis and pave the way for solid growth within the next 18 months.
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By Jennifer Liberto
CNN Money
Wednesday, September 30, 2009
Bailout cop Neil Barofsky is on the lookout for scammers and thieves.
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By Vikas Bajaj
New York Times
Tuesday, September 29, 2009
Indians own more gold than the citizens of any other country. They use the glittering metal as ornaments to flaunt family wealth, as a source of retirement savings and as insurance against calamities.
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By Alex Kennedy
Seattle Times
Tuesday, September 29, 2009
General Electric Co. chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades.
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By Scott Malone
Reuters
Tuesday, September 29, 2009
U.S. chief executives are not ready to step up hiring or capital spending, though a majority expect sales to rise over the next six months, according to a Business Roundtable survey released on Tuesday.
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By Frank Ehrens
Washington Post
Tuesday, September 29, 2009
The price of gold has been hanging near its historic highs, selling for more than $1,000 per ounce. In times of crisis -- the terrorist attacks of Sept. 11, 2001, the collapse of Bear Stearns in spring 2008 -- gold has spiked, as fearful investors grabbed for something they could hold onto.
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Associated Press
Tuesday, September 29, 2009
Americans' worries about job security flared up in September, causing a widely watched barometer of consumer confidence to fall unexpectedly and raising more concern about the upcoming holiday shopping season.
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Associated Press
Tuesday, September 29, 2009
Federal regulators said Tuesday they expect bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to begin running at a deficit this month.
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By James West
MidasLetter.com
Monday, September 28, 2009
Endeavour Financial (TSX:EDV: $1.70) has announced plans to create a new mid-tier gold producer. The merchant banking company made its first big step towards that goal last week when it bought 54% of Etruscan Resources (TSX.V:EET; $0.45).
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By Chris Nicholson
New York Times
Monday, September 28, 2009
China started selling yuan-denominated sovereign bonds in Hong Kong for the first time on Monday, testing international demand for its currency with the $879 million issue as it moves to widen the yuan’s exposure and appeal to markets abroad.
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By Robert Cookson
Financial Times
Monday, September 28, 2009
The fact that almost every risky asset class in the world has rallied sharply over the past six months is somewhat perplexing for V Anantha Nageswaran, the chief investment officer for the private bank Julius Baer.
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Wall Street Journal
Monday, September 28, 2009
The Federal Reserve Bank of Chicago’s National Activity Index worsened in August, but its three-month moving average rose above its level from a year earlier, in August 2008 just before the financial crisis deepened.
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By Larry Elliott
Guardian.co.uk
Monday, September 28, 2009
Get ready for the Age of Austerity. If the years from 1997 to 2007 was Tony Blair's version of the Edwardian summer, a decade of grand illusion when the country lived well beyond its means, the next decade will be payback time.
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By Glen Somerville
Market Watch
Monday, September 28, 2009
World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.
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By James West
MidasLetter.com
Thursday, September 24, 2009
Few junior mining companies make the jump from explorer to producer. Being a producer requires not only a different skill set in management, but in shareholders as well.
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By Jessica Mead
City A.M.
Thursday, September 24, 2009
Over the next two days, world leaders gathered at the G20 summit in Pittsburgh will attempt to address the issue of the persistent global imbalances that have been cited as a long-term cause of the recent economic downturn.
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By Kenneth R. Harney
Los Angeles Times
Thursday, September 24, 2009
Who is more likely to walk away from a house and a mortgage -- a person with super-prime credit scores or someone with lower scores?
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By Jay Mouawad
New York Times
Thursday, September 24, 2009
The oil industry has been on a hot streak this year, thanks to a series of major discoveries that have rekindled a sense of excitement across the petroleum sector, despite falling prices and a tough economy.
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By Jason Mitchell
The Banker
Thursday, September 24, 2009
While the Western world has been struggling through the global financial crisis, Latin America has shown a remarkable resilience to the upheaval.
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Miho Yoshikawa
Thursday, September 24, 2009
Spot gold rallied to trade around $1,010 on Thursday as the precious metal continued to look to the dollar for direction, though a sense of caution prevailed due to the threat of heavy liquidation of futures positions.
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By James West
MidasLetter.com
Wednesday, September 23, 2009
Some companies took a lot more of a hiding than others in the last 12 months. In many cases, its not so much a reflection of the company’s projects or prognosis – investors had to sell, and so sell they did. Alto Ventures, (TSX.V:ATV) is an example of just such a company.
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By Robert J. Samuelson
NewsWeek
Wednesday, September 23, 2009
It seemed like a classic "man bites dog" story. America's banks, having been repeatedly rescued by the government in the past 18 months, were about to turn the tables and rescue the government by lending billions of dollars to the beleaguered Federal Deposit Insurance Corporation.
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Xinhua
Wednesday, September 23, 2009
China's foreign exchange reserves rose from 1,577 billion U.S. dollars in 1978 to 1, 950 billion dollars in 2008 to rank first in the world, said Yu Wenzhe, Chinese Ambassador in Ghana, on Tuesday.
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By Lawrence Williams
MineWeb
Wednesday, September 23, 2009
In its latest statement on global markets Canada's much respected Sprott Asset Management points to the ever increasing doubts on the status of the U.S. dollar as the world's reserve currency and that it has positioned its hedge and mutual funds heavily in the precious metals sector.
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By Boyd Erman
Globe and Mail
Wednesday, September 23, 2009
It seems a shame to trash the party just when it's finally becoming fun to be a gold bug.
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By Biswarup Gooptu
Reuters
Wednesday, September 23, 2009
A former analyst with Moody's Corp has accused the credit ratings agency of issuing inflated ratings, and has taken his concerns to U.S. congressional investigators, the Wall Street Journal reported on Wednesday.
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By Nick Zieminski
Reuters
Tuesday, September 22, 2009
High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.
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By Joseph Spector
USA Today
Tuesday, September 22, 2009
President Obama visited an Albany-area community college this morning to discuss the economy and promote hi-tech investments as a way to boost business growth in the country.
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By James West
MidasLetter.com
Wednesday, September 16, 2009
Uracan Resources (TSX.V:URC) is now drilling its Grandroy target in Quebec, where the company recently discovered mineralization that was ten times greater than average.
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By James West
MidasLetter.com
Wednesday, September 16, 2009
State of California Governor Arnold Schwarzenegger appears posied to clear the way for nuclear power generation, according to a Wall Street Journal blogger.
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By Chris Flood
Financial Times
Wednesday, September 16, 2009
Central banks are set to become net buyers of gold this year for the first time since 1998, according to GFMS, the metals consultancy.
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Globe and Mail
Wednesday, September 16, 2009
The Harper government's stimulus package should have a big impact on stemming job losses but unemployment in Canada will still reach almost 10 per cent by next year, the OECD said Wednesday.
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By Gina Keating
Reuters
Wednesday, September 16, 2009
The U.S. economy has not begun to climb out of the worst recession since the Great Depression, but the "terror" that followed last year's near-collapse of the financial system is gone, due in part to government intervention, Warren Buffett told Reuters on Tuesday.
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By Chris Flood
Financial Times
Wednesday, September 16, 2009
Gold extended its push beyond the $1,000 mark on Wednesday, closing in on the record price set in March last year as bullion was boosted by renewed dollar weakness and concerns about the outlook for inflation.
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By James West
MidasLetter.com
Tuesday, September 15, 2009
Bonterra Resources Inc. (TSX.V:BTR) is a newly listed company focused on the development of gold assets in British Columbia, Canada. The company came out of the chute with the Willoughby property as its qualifying transaction, and is now in the process of scoring its first major acquisition of the Red Mountain Project from Seabridge Gold Corp. (TSX:SEA, NYSE Alternext:SA).
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By Levi Folk
Financial Post
Tuesday, September 15, 2009
Gold investors have been the harshest critics of central bank policy over the past year, judging by the push in the gold price through US$1000 last week.
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By Jan Harvey
Reuters
Tuesday, September 15, 2009
Gold prices are likely to correct after their current run above $1,000 an ounce, but may rebound to as high as $1,100 within the next six months if inflation fears grow, metals consultancy GFMS said on Monday.
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By David Lawder
Reuters
Tuesday, September 15, 2009
President Barack Obama can return the U.S. budget situation to a sustainable one without breaking his pledge to not raise taxes on Americans making less than $250,000, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
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By Jon Cohen and Jennifer Agiesta
Washington Post
Tuesday, September 15, 2009
Despite fresh signs that the worst may be over for the beleaguered U.S. economy, there has been no letup in public fears about possible financial hardship ahead and there is broad concern that not enough is being done to avert another meltdown, according to a new Washington Post-ABC News poll.
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By Lawrence Williams
MineWeb
Tuesday, September 15, 2009
Gold explorer Exeter Resource (TSX:XRC) has announced its latest resource estimate for its Caspiche gold/silver/copper project in the Maricunga region of Chile and the figures are big by any standards.
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By Deborah Soloman and John D. McKinnon
Wall Street Journal
Monday, September 14, 2009
The Obama administration, concerned about the possibility of a big political fight over the national debt, is looking at how it can continue funding the government in the event that Congress hinders its ability to borrow money.
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By James West
MidasLetter.com
Thursday, September 10, 2009
You’ll probably be surprised to learn that the uranium exploration company with the largest combined landholdings in Canada’s chief uranium regions – the Athabasca, Thelon, and Labrador basins – is Bayswater Uranium (TSX.V:BAY), a Vancouver based junior whose stated mission has been to become a significant global producer of uranium.
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By Anousha Sakoui
Financial Times
Thursday, September 10, 2009
Standard & Poor's, the credit rating agency, expects the number of riskier western European companies defaulting on their debts to reach the worst case scenario that it predicted this year.
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By Huw Jones
Reuters
Thursday, September 10, 2009
The collapse of Lehman Brothers a year ago has been likened to the 1994 crash that killed Formula One star Ayrton Senna, in the way it has spurred calls for root-and-branch review of risk in the financial sector.
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By Jack Healy
New York Times
Thursday, September 10, 2009
A slow and still-fragile recovery is taking hold across the country, as residential real estate improves, manufacturing orders pick up, consumer prices become firm and businesses express wary optimism about sales.
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By Frank Ahrens
Washington Post
Thursday, September 10, 2009
Yesterday -- September 9 -- marked the six-month anniversary of the March 9 stock market bottom. It's been quite a ride up since then.
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By Nancy Waitz
Reuters
Thursday, September 10, 2009
The U.S. employment picture will stay bleak well into next year long after the recession ends, but the worst of the labor market crisis is over, top private economists said on Thursday.
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By James West
MidasLetter.com
Wednesday, September 9, 2009
Cream Minerals (TSX.V:CMA) is a junior exploration company that has been in business for over 40 years. Recently, the company’s Chairman and CEO, mining entrepreneur Frank Laing decided to retire and hand the operational reins over to Michael O’Connor, who is now the President and CEO.
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By Cameron French
Reuters
Wednesday, September 9, 2009
Barrick Gold will issue $3 billion in stock to eliminate all of its fixed-price gold hedges and a portion of its floating hedges, taking a $5.6 billion hit to third-quarter earnings, the world's top gold miner said on Tuesday.
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Associated Press
Wednesday, September 9, 2009
Gold prices rose above $1,000 an ounce Tuesday for the first time in seven months, mostly because of a weak dollar that's driving people to other investments they perceive as safe.
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By Javier Blas
Financial Times
Wednesday, September 9, 2009
Gold prices hit a year high above $1,000 a troy ounce on Tuesday, as renewed dollar weakness attracted more investors to the safety of bullion.
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MSNBC
Wednesday, September 9, 2009
Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt.
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By David Streitfeld
New York Times
Wednesday, September 9, 2009
Edward and Maria Moller are worried about losing their house — not now, but in 2013.
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By Javier Blas and Neil Dennis
Financial Times
Thursday, September 3, 2009
Gold continued its advance on Thursday, extending a three-month high hit in the previous session as risk averse investors turned to the precious metal following weakness on equity markets.
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By Emily Kaiser
Reuters
Monday, September 7, 2009
G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
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By Chris Oliver
Market Watch
Thursday, September 3, 2009
Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city's airport, in a move that won praise from local traders Thursday.
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By Javier Blas and Neil Dennis
Financial Times
Thursday, September 3, 2009
Gold continued its advance on Thursday, extending a three-month high hit in the previous session as risk averse investors turned to the precious metal following weakness on equity markets.
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By Brian Love
Reuters
Thursday, September 3, 2009
The global recession is coming to an end faster than thought just a few months ago and may already be over, according to forecasts published by the Organization for Economic Co-operation and Development on Thursday.
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By Eric Dash
New York Times
Thursday, September 3, 2009
Many banks are finally back on their feet. The question now is how to keep them there for good.
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Associated Press
Thursday, September 3, 2009
Treasury Secretary Timothy Geithner said Wednesday that efforts by the United States and other nations to fight a worldwide economic crisis have been able to pull the global economy "back from the abyss."
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By Timothy R. Homan and Shobhana Chandra
Bloomberg
Thursday, September 3, 2009
U.S. companies cut more jobs than forecast in August and boosted their workers’ productivity the most since 2003 in the second quarter, signaling employers are seeking to cut costs further even as the economy stabilizes.
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By Moming Zhou
MarketWatch
Wednesday, September 2, 2009
Gold prices typically rise in September, an analysis of the historical record shows, as the start of holiday seasons in the world's biggest gold-consuming countries tends to drive up demand.
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By Christine Seib
TimesOnline.co.uk
Wednesday, September 2, 2009
Private employers cut 298,000 American jobs last month, far above economists’ expectations, and squeezed more work out of staff over fewer hours.
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By Jan Harvey
Reuters
Wednesday, September 2, 2009
Prospects for global economic recovery may increase the call for silver from industrial users,
leaving the metal ripe for fresh gains on top of already firm investment interest.
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By Svea Herbst-Bayliss
Reuters
Wednesday, September 2, 2009
Billionaire investor George Soros, long celebrated for his shrewd market picks, proved his acumen anew in the last year when his firm's assets surged 41 percent while most rivals' assets tumbled.
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By Stanley Reed
BusinessWeek
Wednesday, September 2, 2009
It may be one of the biggest oil finds of the year, if not the decade. In recent weeks, executives at BP's exploration centers in Houston and London have been closely tracking the progress of a very deep well that BP contractors were drilling into the seabed of the western Gulf of Mexico.
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By Christopher Doering and Rachelle Younglai
Reuters
Wednesday, September 2, 2009
U.S. securities and futures regulators risk stifling innovation and competition if they adopt a rigid set of rules for regulating financial instruments, the chief regulator of the commodities markets warned on Wednesday.
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By James West
MidasLetter.com
Tuesday, September 1, 2009
Colombia has emerged as a prolific source of new gold deposits during the last several years, and Antioquia Gold Inc. (TSX.V:AGD) is the latest TSX Venture listed company to begin exploration there.
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Business Spectator
Tuesday, September 1, 2009
Billionaire investor George Soros has renewed his interest in the Australian commodities sector, taking a 20 per cent stake in Papua New Guinea-focused diversified miner Marengo Mining Ltd as part of its recent $A16.3 million (CA$14.8 million) capital raising.
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By David Oakley
Financial Times
Tuesday, September 1, 2009
The European Central Bank on Friday highlighted the dangers to the stability of the financial system of credit derivatives, the products used to protect investors against bond defaults.
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By Martin T. Sosnoff
Forbes
Tuesday, September 1, 2009
Is there anything more to be learned from Warren Buffett? Maybe yes, maybe no. The "yes" has to do with his good feel for macro events like financial panics, the dollar, interest rates, stock market valuation and preferred asset categories throughout the world.
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By Aoife White
Globe and Mail
Tuesday, September 1, 2009
The jobless rate in the 16 nations that use the euro climbed to a new 10-year high of 9.5 per cent in July despite other signs that the economy is starting to recover, the EU statistics agency Eurostat said on Tuesday.
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By Dan Milmo
Guardian.co.uk
Tuesday, September 1, 2009
The world's leading airlines have slumped to a $2bn (£1.2bn) loss during the industry's most profitable trading period, as falling fares and rising oil prices wreak further damage on carriers' bottom lines.
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By James West
MidasLetter.com
Monday, August 31, 2009
Fortuna Silver Mines Inc.(TSX.V:FVI) is producing silver profitably from its silver mine in Peru, and will soon begin construction of its second mine in Mexico, making it a mid-tier silver producer with cash flow of over US$ 100 million per year. But the market isn’t properly valuing the company.
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By Kevin Hassett
Bloomberg
Monday, August 31, 2009
Like the Chinese, the folks at Disney World peg their currency to the dollar. Hand them $1 U.S. and you receive one Disney dollar, complete with a picture of Mickey Mouse or his friends, plus the signature of Disney’s official treasurer, Scrooge McDuck.
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By Michael Mackenzie and Francesco Guerrera
Financial Times
Monday, August 31, 2009
Short sellers have been deserting the US stock market in droves during its sluggish summer sessions in a retreat that has helped fuel the recent volatile trading in AIG and other beaten-down financial shares, analysts said on Friday.
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By Lingling Wei and Peter Grant
Bloomberg
Monday, August 31, 2009
Federal Reserve and Treasury officials are scrambling to prevent the commercial-real-estate sector from delivering a roundhouse punch to the U.S. economy just as it struggles to get up off the mat.
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By Alexandre Deslongchamps
Bloomberg
Monday, August 31, 2009
Canada’s economy shrank faster than expected in the April-to-June period as the country’s first recession since 1991 is proving deeper than thought, even as growth in June indicates the contraction is nearing an end.
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Financial Times
Monday, August 31, 2009
The North American natural gas market is already reeling from prices at multi-year lows. But a knockout blow could be lurking underground.
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By James West
MidasLetter.com
Wednesday, August 26, 2009
Uracan Resources is hoping its new uranium discovery in Quebec reported today will turnaround the company’s languishing stock price.
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By Jeanne Sahadi
CNN Money
Tuesday, August 25, 2009
In just over a month, the federal government's fiscal year will draw to a close, leaving in its wake one of the biggest annual deficits in U.S. history -- and a forecast of more record debt to come.
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By Jonathan Stempel
Reuters
Tuesday, August 25, 2009
A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.
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By James West
MidasLetter.com
Wednesday, August 12th, 2009
Every so often, I come across a company whose share price versus its assets is way out of whack. In the case of Cadan Resources (TSX.V:CNF), the discrepancy is nothing short of opportunity for risk tolerant investors.
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By Ashley Seager
Guardian.co.uk
Wednesday, August 12th, 2009
Unemployment in Britain jumped by 220,000 in the three months to June to 2.435 million, official data showed today, the highest level since 1995.
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By Julie Haviv
Reuters
Wednesday, August 12th, 2009
U.S. mortgage applications fell last week, reflecting a drop in demand for home refinancing loans as interest rates soared to their highest levels since June, data from an industry group showed on Wednesday.
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By Ben Levisohn
BusinessWeek
Wednesday, August 12th, 2009
From the start, few believed Bernard Madoff's claim that he acted alone in creating and managing his $65 billion Ponzi scheme.
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MSNCB
Wednesday, August 12th, 2009
U.S. employers who have cut jobs over the past year are in no hurry to start hiring again just because the recession is tapering off.
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By Marie Leone
CFO.com
Wednesday, August 12th, 2009
There was a heightened sense of urgency to the Chrysler bankruptcy petition. When the company signed an agreement in May to sell most of its assets to Italy's Fiat, the clock began ticking. The American carmaker needed to make a quick exit from bankruptcy.
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MSNBC
Tuesday, August 10th, 2009
After more than a year of economic gloom, Europeans are returning to the shops and venturing back into the housing market. Companies are slowing the pace at which they've been slashing jobs. Lending conditions are improving.
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By Gordon Zelko
MineralStox.com
Monday, August 10, 2009
What is geological leverage you ask? It’s consistency. Potash in Saskatchewan has it. But uranium doesn’t. Gold doesn’t (for the most part). Base metal deposits don’t have it.
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By Eric Dash
New york Times
Monday, August 10, 2009
A guaranteed bonus might strike many people as a contradiction in terms. But on Wall Street, banks have become so eager to lure and keep top deal makers and traders that they are reviving the practice of offering ironclad, multimillion-dollar payouts — guaranteed, no matter how an employee performs.
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By Corey Boles and Michael R. Crittenden
Wall Street Journal
Monday, August 10, 2009
U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is "critically important" that they act in the next two months.
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By Jana Randow and Nicholas Larkin
Bloomberg
Saturday, August 8th, 2009
European central banks agreed to a third five-year cap on gold sales and said planned disposals by the International Monetary Fund could be done within the accord.
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By Jack Healy and Louise Uchitelle
New York Times
Monday, August 7, 2009
The American economy lost 247,000 jobs in July, and in a reversal, the unemployment rate fell slightly, to 9.4 percent, the government reported Friday.
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By James West
MidasLetter.com
Thursday, August 6, 2009
Bruce Turner, the former president of BHP Billiton's (NYSE:BHP) Escondida copper mine in northern Chile, has just announced that he will take the helm of emerging copper producer Apoquindo Minerals Inc. (TSX.V:AQM).
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By Jon Hilsenrath
Wall Street Journal
Thursday, August 6, 2009
Federal Reserve officials could move in the coming weeks to extend the life of a program aimed at reviving consumer and business lending markets.
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By Jonathan Stempel
Reuters
Thursday, August 6, 2009
For one quarter at least, Warren Buffett may look like the Oracle of Omaha again.
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By David Lawder and Glenn Somerville
Reuters
Thursday, August 6, 2009
White House economic adviser Christina Romer said on Thursday that the $787-billion U.S. stimulus program was stabilizing the economy despite unacceptably high job losses.
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By Jenny Anderson
New York Times
Thursday, August 6, 2009
Lloyd C. Blankfein has a story about the cataclysm that nearly brought down all of Wall Street. It goes something like this: One by one, lesser banks were swept away by the financial storm of 2008. And as the floodwaters rose, no one, not even Goldman Sachs, seemed safe.
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Associated Press
Thursday, August 6, 2009
Americans, worried about job security and finding fewer options among the sales bins, remained tight-fisted in July, resulting in sluggish sales for many merchants and raising concern about the back-to-school shopping season's health.
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By James West
MidasLetter.com
Wednesday, August 5, 2009
Major new discoveries are few and far between these days – especially when it comes to new gold deposits. That didn’t stop Corex Gold (TSX.V:CGE) from intersecting a stellar 91.4 metres grading 1.05 grams per tonne gold.
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MSNBC
Wednesday, August 5, 2009
Two heralds of the crucial unemployment data due Friday showed a deteriorating job market, raising worries about the health of consumer spending and the broader economy on Wednesday.
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By David Ellis
CNNMoney
Wednesday, August 5, 2009
After rescuing the nation's banking system from utter disaster last fall, Washington now faces an arguably much trickier task: putting the bailout genie back in the bottle.
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By Ben Rooney
CNN Money
Wednesday, August 5, 2009
Treasury prices fell Wednesday as investors await a government announcement expected to reveal plans to auction $77 billion in U.S. debt later this month.
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By Elise Craig
Business Week
Wednesday, August 5, 2009
With unemployment projected to continue rising, leaving more homeowners without jobs and unable to meet their mortgage payments, Congress can expect an earful from constituents about what it's doing to stem the tide of foreclosures.
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By Christine Harper
Bloomberg
Wednesday, August 5, 2009
Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, breaking the previous high of 34 days in the prior three months.
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By Jack Healy
New York Times
Tuesday, August 4, 2009
The broader economy may be testing the bottom, but for American consumers, there appears to be no end yet in sight for falling wages and higher living expenses.
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By Martin Hutchinson
CNN Money
Tuesday, August 4, 2009
Commodity prices are flashing a danger signal for the world economy. Generally, price spikes occur at the peak of economic cycles. This time however, a sharp rebound is coinciding with an economic trough.
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By Sara Lepro
Associated Press
Tuesday, August 4, 2009
Commodities traders placed more bets on an economic recovery Monday, adding oil, copper and soybeans to their portfolios as the dollar sank to fresh lows.
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By James Regan and Jospeh Chaney
Reuters
Tuesday, August 4, 2009
China may have overstocked on commodities, risking a slowdown in buying and a correction in prices in the second half of this year, top economist Nouriel Roubini said on Monday, also reiterating that the global recession would continue until year-end.
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By Javier Blas
Financial Times
Tuesday, August 4, 2009
Commodities prices hit their highest level for the year on Monday, with European’s oil benchmark Brent trading above $73.50 a barrel, buoyed by positive economic data and a sharp weakening of the US dollar.
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By Lynn Adler
Reuters
Thursday, July 30, 2009
Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday.
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By Richard Leong
Reuters
Wednesday, July 29, 2009
Top bond fund manager Bill Gross on Wednesday said he sees the U.S. economy expanding 3 percent a year once it emerges from recession, but the rate will fall short of growth rates seen in recent years.
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2009 Archive