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Canadian wheat origins have so far managed to grab a pole position in supplying the Saudi market through aggressive pricing tactics, but such a policy can not be sustained in the long run, U.S. Wheat Associates said.
Saudi Arabia became the biggest addition in years to the global wheat buyside after it decided to gradually […]
Filed under: economics by Finance Boss
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Two market operators, Nasdaq OMX and Deutsche Boerse, reported profit drops on Thursday, partly reflecting the price war between traditional players and younger challengers for market share and increasingly narrow margins.
Nasdaq OMX, which runs the U.S.-based Nasdaq Stock Market and venues in Nordic countries, said diluted earnings dropped 18 percent, while Deutsche Boerse, which […]
Filed under: finance by Finance Boss
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More than $500 million has been returned to the victims of Ponzi schemer Bernard Madoff, according to the trustee in charge of recovering stolen assets.
Irving Picard, the court-appointed trustee in charge of recovering and distributing assets, said Wednesday that the Securities Investor Protection Corp. (SIPC) has turned over $534.25 million to 1,558 investors in […]
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Malaysia cut income tax for a second straight year, aiming to spur consumer spending and private investment and help the economy recover from a recession.
The top personal tax rate will be reduced to 26 percent in 2010 from 27 percent, Prime Minister Najib Razak said in his budget speech in Kuala Lumpur yesterday. […]
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Mortgage applications in the U.S. fell last week from the highest level in four months as borrowing costs increased.
The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan declined by 1.8 percent to 742.9 in the week ended Oct. 9 from 756.3 a week earlier. The group’s gauge […]
Filed under: money, technology by Finance Boss
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Russia’s economy may contract by 7.5 percent this year after performing worse than anyone had predicted, President Dmitry Medvedev said in a televised speech.
“I must admit that we sunk below our lowest expectations,” Medvedev said in an interview to be broadcast today at 9 p.m. Moscow time on state television. “The real damage […]
Filed under: economics by Finance Boss
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Canadian employers added jobs for the second straight month in September, and the unemployment rate unexpectedly fell, adding to evidence the U.S.’s largest trading partner is emerging from its recession and raising the likelihood of a central bank rate increase within the next year.
Employment rose by 30,600, Statistics Canada said today in Ottawa. […]
Filed under: management by Finance Boss
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The U.S. Treasury Department said AllianceBernstein Holding LP, BlackRock Inc. and Wellington Management Co. have raised a combined $1.94 billion for their funds participating in the U.S. effort to buy toxic assets from banks.
By getting that money from private investors, the three firms qualify for federal funds under the Public Private Investment Program. […]
Filed under: money by Finance Boss
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South Korea’s government plans to increase spending 2.5 percent next year as it seeks to generate more jobs and boost support for lower-income earners.
Total expenditure will rise to 291.8 trillion won ($245.5 billion), the Ministry of Strategy and Finance said in its 2010 budget proposal statement today in Gwacheon. National debt will be […]
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Demand for U.S. durable goods unexpectedly fell in August and sales of new homes rose less than forecast, restraining the pace of the economic recovery.
Orders for goods made to last several years dropped 2.4 percent, the biggest decline since January, the Commerce Department said today in Washington. Consumer sentiment improved, a separate report […]