(Bloomberg) -- German Finance Minister Peer Steinbrueck will try to win support for closer hedge-fund scrutiny at this weekend's meeting of colleagues from the Group of Eight main industrial nations in the absence of some of the club's heaviest hitters.
Steinbrueck, who chairs the gathering near Potsdam, Germany, today and tomorrow, wants his colleagues to back a code of conduct for hedge funds as rapid growth in the $2 trillion industry stokes concern they pose a potential threat to financial stability. The U.S. and the U.K. disagree, arguing that markets are better placed than governments to keep an eye on the pools of capital.
Read more at Bloomberg Bonds News
Thursday, May 17, 2007
Chile's Falabella to Buy D&S for $3.7 Billion in Stock, Expand Globally
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke issued a double-barreled warning on the U.S. economy, saying the housing market will continue to struggle and the Fed sees ``significant risks'' in the leveraged-buyout boom.
Bernanke, speaking at a conference in Chicago today, said curbs on subprime lending ``are expected to be a source of some restraint on home purchases and residential investment in coming quarters.'' And he said the Fed is ``beginning to look at'' what he called ``the risks that are associated with working with private-equity firms.''
Read more at Bloomberg Currencies News
Bernanke, speaking at a conference in Chicago today, said curbs on subprime lending ``are expected to be a source of some restraint on home purchases and residential investment in coming quarters.'' And he said the Fed is ``beginning to look at'' what he called ``the risks that are associated with working with private-equity firms.''
Read more at Bloomberg Currencies News
Abalone Poachers in New Zealand Threaten Survival of China's Banquet Treat
(Bloomberg) -- Scott Bernie, a New Zealand fisheries officer, kicks a pile of abalone shells at Oteranga Bay, evidence poachers have visited the site west of Wellington. Barred from carrying a weapon, he wears a knife-proof vest for protection.
``Over there, a possum hunter came across four blokes poaching abalone,'' says Bernie, 28. ``They had five huge sacks full and pulled a knife on him. Luckily he had his gun.''
Read more at Bloomberg Exclusive News
``Over there, a possum hunter came across four blokes poaching abalone,'' says Bernie, 28. ``They had five huge sacks full and pulled a knife on him. Luckily he had his gun.''
Read more at Bloomberg Exclusive News
Palm Oil Futures Gain in Malaysia as Soybean Oil's Rise May Bolster Demand
(Bloomberg) -- Palm oil futures in Malaysia, the world's largest grower last year, rose as recent gains in the price of soybean oil, a rival product, may boost demand for the tropical commodity.
Palm oil and soybean oil, which can be substituted for one another, usually move in the same direction. Soybean oil in Chicago has gained for eight sessions, adding 6.5 percent, as soybeans rose to a five-week high. Vegetable oils, used for cooking and soaps, are also used to make alternative fuels.
Read more at Bloomberg Commodities News
Palm oil and soybean oil, which can be substituted for one another, usually move in the same direction. Soybean oil in Chicago has gained for eight sessions, adding 6.5 percent, as soybeans rose to a five-week high. Vegetable oils, used for cooking and soaps, are also used to make alternative fuels.
Read more at Bloomberg Commodities News
Idemitsu Gets Approval to Restart Part of Fire-Damaged Aichi Refinery Unit
(Bloomberg) -- Idemitsu Kosan Co., Japan's second- largest refiner, got the approval of the fire department approval to restart part of a refinery unit that was damaged by a fire on May 11.
Idemitsu is allowed to resume operations at five of the six filters on a fuel oil desulphurization unit at the company's Aichi refinery, Toru Ohashi, an official at Chita City Fire Department, said by telephone today.
Read more at Bloomberg Energy News
Idemitsu is allowed to resume operations at five of the six filters on a fuel oil desulphurization unit at the company's Aichi refinery, Toru Ohashi, an official at Chita City Fire Department, said by telephone today.
Read more at Bloomberg Energy News
Asian Stocks Fall, Set for First Losing Week in Three; Nippon Steel Drops
(Bloomberg) -- Asian stocks fell to a two-week low after tumbling metals prices pushed the region's benchmark index toward its first weekly decline in three.
Sumitomo Metal Mining Co., Japan's largest nickel miner, dropped the most in almost seven weeks, while BHP Billiton Ltd., the world's biggest mining company, slid 2.4 percent.
Read more at Bloomberg Stocks News
Sumitomo Metal Mining Co., Japan's largest nickel miner, dropped the most in almost seven weeks, while BHP Billiton Ltd., the world's biggest mining company, slid 2.4 percent.
Read more at Bloomberg Stocks News
Canadian Stocks Notch 7th Record This Month as Energy Producers Advance
(Bloomberg) -- Canadian stocks rose, lifting the main stock benchmark to its seventh record this month, as energy companies including EnCana Corp. climbed along with oil prices.
BCE Inc. gained on a report that there may be another bidder for Canada's biggest phone company. The takeover speculation overshadowed a decline in raw-materials shares as lower gold and copper prices sent companies such as Barrick Gold Corp. lower.
Read more at Bloomberg Stocks News
BCE Inc. gained on a report that there may be another bidder for Canada's biggest phone company. The takeover speculation overshadowed a decline in raw-materials shares as lower gold and copper prices sent companies such as Barrick Gold Corp. lower.
Read more at Bloomberg Stocks News
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