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Jun 21, 2010

NASDAQ: FOREX .- Latest Forex News. June 21rst., 2010


Latest Forex News

BBC : Economy.- Tough measures expected in Budget. June 21rst., 2010

Page last updated at 02:44 GMT, Tuesday, 22 June 2010 03:44 UK

Chancellor George Osborne
A package of tax increases and spending cuts are expected to be unveiled later by Chancellor George Osborne.

Stock markets and Asian currencies rise following weekend comments by China's central bank about its yuan policy.
Chancellor George Osborne says Britain is on the "road to ruin" if "tough" action is not taken in the Budget to cut the deficit.

Detail from Budget calculator graphic
Cut the budget deficit from the comfort of your own computer
Will this be a game-changing Budget for the UK?
What incurs VAT and what would happen if it rose? 
The chancellor is not alone in cutting the deficit

FGC BOLSA - FGC FINANCIAL MARKETS: MarketWatStocks ch.-Industry - Financial Services - to Watch: Stocks in focus Tuesday: Adobe, Carnival, Walgreen


Stocks to Watch: Stocks in focus Tuesday: Adobe, Carnival, Walgreen

By Rebecca L. McClay MarketWatch
6/21/2010 7:55:00 PM

Among the companies whose shares are expected to see active trading on Tuesday are Adobe Systems, Carnival and Walgreen. 
See full story

Swipe-fee compromise won't help consumers

By Jennifer Waters MarketWatch
6/21/2010 7:36:00 PM

Lawmakers debating changes to the rules on swipe, or interchange, fees found common ground Monday, but it’s unlikely consumers will see any changes at the cash register any time soon. See full story

Corrections: Obama slams GOP on jobless filibuster

By MarketWatch
6/21/2010 6:34:00 PM

On June 19, a MarketWatch report on President Barack Obama's weekly address to the nation incorrectly reported Mississippi Republican Senator Roger Wicker's views on the Gulf of Mexico oil spill. While opposing the White House's use of the spill to achieve political ends, Wicker does not oppose raising liability caps. See the corrected story.  See full story

CNBC : Evening Brief: US Businesses Have Reason to Be Wary on Chinese Yuan. June 21rst., 2010



Meat Loaf & Music
Insight on the music business, with Meat Loaf, recording artist & actor.
» Watch Video

Former SEC Honcho on Reform
Discussing the future of financial regulatory reform, with Joseph Grundfest, Stanford University Law School.
» Watch Video


MarketWatch: Personal Finance Daily : June 21rst., 2010


Personal Finance Daily
JUNE 21, 2010

Monday's Personal Finance stories

By MarketWatch

Don't miss these stories:

College grads and other young adults in this economic downturn really don't have it easy. There's the horrendous job market. There's the fact that average incomes are sliding -- a burden that can negatively affect your entire lifetime of earnings. College tuition rates haven't budged, and contribute to steep debt loads upon graduation. There's the ballooning federal deficit and state budget problems -- and all that implies for the future of tax rates (higher) and government services (fewer). There's the murky outlook for Social Security and Medicare.

And now we can add one more to the list: No more free bank accounts.

As Robin Sidel writes in the Wall Street Journal, there are ways to fight back against the new fees banks are imposing on customers, most notably checking-account fees.

But the problem is that many of the tools at hand to fight back are available solely to people with well-established financial lives. For instance, one way to avoid checking account fees is to have your mortgage at the same bank as your checking account. Not very many young adults have mortgages.

Also, people with a lot of money in their accounts certainly have some chance of reversing the fees if they call the bank to complain. But a 20-something customer with a few hundred bucks in his checking account? Not so much.

One piece of good news, perhaps: These fees are being prompted by a new spate of consumer-friendly rules, and you could argue that we're all better off with a known monthly fee than, say, unlimited interest-rate hikes on credit-card balances.

Another piece of good news: Thanks to the economic crisis, we are hopefully fostering a new nation of savers, like their Depression-era great-grandparents before them. And maybe the "new frugality," if it holds, with its focus on growing your own food, thrift-store shopping, making what you can yourself and buying only what you need, may, ultimately, mean greater happiness for more people. Fewer Saturday-afternoon trips to the mall have got to be good for a person.

But it's not going to be easy for these kids to get a leg up.

-- Andrea Coombes , Personal Finance editor

New bank fees are coming - here's how to fight back

Bank on it: Higher fees, and more of them, are coming soon to a financial institution near you.
See story on new bank fees are coming -- here's how to fight back.


Tap free money to pay for energy upgrades

Homeowners have until the end of the year to make improvements that qualify for a federal energy-efficiency tax credit, including insulation upgrades and heating and air-conditioning equipment.
See Amy Hoak's Home Economics.

Flood insurance gets harder to find

From the Gulf oil spill and the floods in Arkansas and Oklahoma to the procession of hurricanes forecast for this year, the stage is set for major property damage in 2010.
See story on flood insurance gets harder to find.


Is a Roth IRA safe from taxes?

Congress wouldn't tax Roth IRAs, would it? It is a burning question for thousands of taxpayers now deciding whether to pay taxes to convert their regular individual retirement accounts to Roth accounts.
See story on Roth IRAs and taxes.

Four ways to boost your nest egg

Most investors know (or should know) the tried-and-true methods to help nest eggs grow. Shift money automatically from your paycheck to a savings plan; take advantage of your employer's matching contributions to 401(k) plans; eliminate (virtually) all consumer debt; track and trim household expenses; reduce investment fees; and, of course, save more than you're saving now.
See story on four ways to boost your nest egg.


Avoid summer slump

The lazy days of summer are a good time to step up your game. If you just landed a job after graduation or haven't been onboard very long, you likely have little vacation time and might be tempted to take it easy at the office -- especially while the boss and co-workers are away.
See story on avoid summer slump.

Want your old job back?

If you've been laid off and your former employer is hiring again, you might see the news as a chance to get back to work at your old firm. But first it's important to consider whether it's a good idea -- and whether the skills you bring are what the company needs now.
See story on do you want your old job back?


Money lessons from Mom and Dad

Over the span of a lifetime, we learn more about saving and investing from personal experience than from any expert. In my case, the most formative experiences have been the lessons learned by watching my parents with their money, especially later in their lives.
See story on money lessons from Mom and Dad.


Gulf oil spill victims will be paid quickly

Victims of the massive Gulf oil spill will be compensated quickly, said Kenneth Feinberg, an independent administrator for a $20 billion fund set up in the wake of the environmental catastrophe.
See story on Gulf oil spill victims will be paid quickly.


Seven big bank-reform items yet to be resolved

After one week of late-night negotiations, House and Senate Democratic lawmakers on a committee to work out differences in sweeping financial-regulatory bills so far have failed to reach an agreement on key aspects of the legislation.
See story on seven big bank-reform items yet to be resolved.

Economy weak, data look even weaker

No one thought this recovery would be quick or easy, and it hasn't been. The U.S. economy has been growing, but it's still too fragile to stand on its own.
See Economic Preview.


The BMW 335i Coupe

Crimson red with a cream beige interior, the subject of this weekend's road test turned heads and induced smiles. "Now that is one that I would spend my own money for," said our younger-generation parking garage attendant/car buff as he broke into a wide smile. That was not an insignificant comment since he sees virtually all of the test vehicles.
See Auto Review.


Six myths about investing in dividend-paying stocks

When Scott Adams, creator of the comic strip "Dilbert," heard that BP was "destroying a portion of the earth" without, at the time, cutting its dividend, he said he thought it would be a great time to buy.
See story on myths of investing in dividend-paying stocks.

Treasury yields to rise by year-end: survey

The biggest bond dealers see Treasury yields rising by the end of the year as investors become more comfortable with the global economy's path to recovery.
See Bond Report.

Reverse share-splits unite ETF investors

How can something that looks bad for a stock be good for an exchange-traded fund? Easy. ETFs may trade like stocks, but they're still funds at heart.
See Chuck Jaffe.

Why some trades feel so good

From February through May, the Dow Jones Industrial Average gained more than 1000 points in an almost uninterrupted daily march upward. Then came the "flash crash" of May 6 and day after day of losses through May. Now, in mid-June, the market has been up six of the past seven days.
See Jason Zweig.

Gold bugs giddy, but some get cautious

A wonderful week for gold -- but some unusual suspects are growing cautious.
See Peter Brimelow.

NYT: Afternnoon Busines Update. June 21rs.t, 2010





Justices Back Monsanto on Biotech Seed Planting

The Supreme Court overturned a ruling that had barred the planting of modified alfalfa seed from Monsanto until the federal government completed an environmental review.

Disney Seeks to Turn Hit Cartoon Into Franchise

By some measures, "Phineas and Ferb" was the No. 1 television animated series among children 6 to 11 in 2009.
Bits Blog

Amazon Drops Kindle Price to $189

Reacting to a price cut for the Barnes & Noble Nook, Amazon has dropped the price for the Kindle to $189.
Media Decoder Blog

Times Names New Public Editor

Arthur Brisbane will become The Times's new public editor.

U.S. Stocks Pull Back in Late Trading

Stocks slumped after a surge inspired by China's move to allow its currency to appreciate against the dollar.

ABC News:utralia.- Business:- Turtle Island fight goes to court. June 21rst, 2010.



Turtle Island fight goes to court
The Supreme Court has been told a lack of approval from Gladstone Regional Council in central Queensland prevented a company from taking over Turtle Island.

Gas exploration companies focus on sustainability
Coal seam gas companies exploring in the Galilee Basin in Queensland's central-west have formed an alliance to discuss how the sector can develop sustainably

Wall Street down as yuan enthusiasm wanes
Shares in the United States were unable to hold on to early gains, with pharmaceutical and retail stocks weighing heavily, and the initial optimism about China's pledge to allow a flexible currency fading in the final hour.

More Business Stories 

FOX BUSINESS : China Rally Goes Bust. JUne 21rst, 2010

stock traders Oct 2009 01 276
China Rally Goes BustThe Nasdaq sank nearly 1% after euphoria over China’s decision to unleash its yuan gave way to doubts about the move’s consequences.

Canada's Finance Minister Talks Debt

Is the World Broke? Canadian Finance Minister James Flaherty argues the world's debt needs to be brought under control, particularly in Europe.

China: No. 1 Manufacturer?

The U.S.’s legacy as the world’s largest manufacturer could end in the next few years as a result of the Great Recession and China’s staggering growth.

Feinberg on Filing BP Claims

WATCH Kenneth Feinberg, head of the government's compensation fund, weighs in on the claims process.

RTTNews: Evening Market Wrap : Stocks Sink As Markets Re-Evaluate China's Currency Move - U.S. Commentary. June 21rst., 2010

Evening Market Wrap Mon Jun 21 17:01 2010 


Jun 21, 2010 Stocks Sink As Markets Re-Evaluate China's Currency Move - U.S. Commentary Stocks were unable to sustain an early rally and turned lower over the course of the trading day on Monday, as news of China easing its currency policy raised concerns about increased costs for U.S. corporations and consumers. The major averages all finished in negative territory, pulling back off of the one-month closing highs set on Friday. Full Article

Corporate News

Jun 21, 2010 E3 Expo Suggests Trend Towards Offering More Bang For Gaming Buck While big names like Sony, Microsoft, and Nintendo generated a lot of headlines during last week's Electronic Entertainment Expo in Los Angeles, some of the other exhibitors pointed toward an underlying trend in the gaming industry of producing less expensive or even free games that maintain the same level of quality as their more expensive counterparts. Full Article
Jun 21, 2010 Ralcorp To Buy American Italian Pasta For About $1.2 Bln; Sees Lower EPS In Q3 - UpdateCereals maker Ralcorp Holdings, Inc. (RAH) said Monday that it agreed to acquire dry pasta producer American Italian Pasta Co. (AIPC) for $53 per share in cash, totaling about $1.2 billion, net of cash acquired. Full Article
Jun 21, 2010 Pharma Companies Valeant, Biovail To MergeSpecialty pharmaceutical companies Valeant Pharmaceuticals International (VRX) and Biovail Corp. (BVF, BVF.TO) announced Monday that their Boards have approved a definitive merger deal under which the companies would combine to have an expanded presence in North America and eight other countries. Full Article
Jun 21, 2010 Kimco Realty Names Glenn Cohen CFO, Barbara Pooley Chief Administrative OfficerReal estate investment trust Kimco Realty Corp. (KIM) Monday announced the promotions of Glenn Cohen as Executive Vice President and Chief Financial Officer and Barbara Pooley as Executive Vice President and Chief Administrative Officer. Full Article
Jun 21, 2010 HudBay Minerals Appoints David Garofalo As CEOCanadian mining company HudBay Minerals Inc. (HBM.TO) said Monday that it has appointed David Garofalo as president and chief executive officer effective July 12, replacing Warren Holmes, who has been serving as interim CEO for the past few months. Garofalo has also been appointed to the board of directors. Full Article
Jun 21, 2010 Kewill FY10 Profit SurgesSoftware firm Kewill Plc (KWL.L) reported Monday, in preliminary results, a surge in profit for the fiscal ended March 31, 2010, helped by 11% growth in recurring revenues, despite a challenging trading environment. The company believes the tough economic environment to continue in the short term. Full Article
Jun 21, 2010 Corn Products To Buy Akzo Nobel's National Starch Unit For $1.3 BlnAgriculturally derived ingredients provider Corn Products International, Inc. (CPO) said Monday that it has entered into a definitive agreement to acquire specialty starch business National Starch from the Netherlands-based coatings and specialty chemicals company Akzo Nobel NV (AKZOY.PK) for $1.3 billion in cash. Full Article

Forex Top Story

Jun 21, 2010 Dollar See-Saws As China Loosens Grip On Yuan The dollar took back some of its recent losses versus the euro and sterling on Monday, but remained on the defensive after China loosened its grip on the yuan. Resource-linked currencies surged ahead today on hopes that China's new flexibility will result in further demand for commodities. Full Article

Political News

Jun 21, 2010 Steele Critical Of Obama Golfing During Gulf Oil Spill Crisis President Barack Obama, whose administration has already come under heavy criticism for its response to the oil spill in the Gulf of Mexico, once again found himself the target of Republicans over the weekend after he and Vice President Joe Biden went golfing. Full Article
Jun 21, 2010 White House Calls For Prompt Passage Of Disclose ActThe White House on Monday called for prompt passage of the Disclose Act, which would set new requirements for groups releasing political ads. The act is a response to the Citizens United vs. Federal Election Commission Supreme Court decision, which removed limits on how much corporations can spend on political advertising. Full Article
Jun 21, 2010 Kagan Confirmation Hearing Set As New Documents Provide Fuel For Republican AttacksSenate Judiciary Committee Chairman Patrick Leahy, D-Ver., announced Monday that Supreme Court nominee Elena Kagan's confirmation hearing will be held on Monday, June 28 at 12:30 pm. Full Article
Jun 21, 2010 White House Official Calls Report That Emanuel Plans To Step Down "Ludicrous"The White House responded Monday to reports from British newspaper the Daily Telegraph that White House Chief of Staff Rahm Emanuel is planning on leaving the Obama administration due to his frustrations with the administration, calling the reports "ludicrous." Full Article
Jun 21, 2010 Poll Shows Enthusiasm Among Republican At Highest Level In YearsA new Gallup poll released Monday showed that enthusiasm among Republican voters and voters leaning Republican for the 2010 elections is at its highest level in over 14 years. According to the poll, which surveyed 1,014 adults June 11 - 13, 59% of Republican voters and Republican-leaning independents are more enthusiastic about voting than normal. Full Article

US Policy

Jun 21, 2010 Supreme Court Upholds Terror Support Ban The Supreme Court ruled Monday that the Government can bar aid to terrorist groups even when the support is aimed at legal purposes. In the 6 to 3 opinion authored by Chief Justice John Roberts, the court ruled that a law banning "material support" to agencies designated as terrorist organizations is constitutional. Full Article

RTTNews: Daily Market Analysis.- Chinese Announcement Keeps Stocks On Track For Further Gains . June 21rst, 2010

Daily Market Analysis Mon Jun 21 09:11 2010 

Jun?21,?2010 Chinese Announcement Keeps Stocks On Track For Further Gains - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a sharply higher opening on Monday, with the optimism stemming from China's assurance that it would soon relax its peg to the dollar. Equity markets across the globe relished the news and along with equities, commodities and risky currencies are also rallying. The Chinese announcement comes ahead of the G-20 meeting to be held over the weekend at Toronto and bodes well for world trade as a whole. Full Article

RTTNews: Daily Stocks to Watch.- Endeavour International Expects Significant Increase in Gas Production - Stocks to Watch Endeavour International Corp. June 21rst., 2010

Daily Stocks to Watch Mon Jun 21 09:02 2010 

Stocks To Watch

Jun 21, 2010 Endeavour International Expects Significant Increase in Gas Production - Stocks to WatchEndeavour International Corp. (END) said it expects to generate a significant increase in gas production from shale reserves, especially from the Haynesville well. The company said results from joint-interest wells in the Haynesville, Cotton Valley and Marcellus gas plays are encouraging. The new initiative is part of the company's strategy to establish a growth-oriented portfolio of domestic onshore properties to complement its development and producing assets in the U.K. William Transier, chief executive officer of Endeavour said, "Initial drilling results support our belief that our move into emerging US gas shale and frontier plays will serve as a predictable and sustainable source of reserves and production for our company in the future. Full Article
Jun 21, 2010 Introducing RTT Growth & Value StocksThe Growth & Value Stocks service is designed with a disciplined approach of extensive fundamental analysis to cater swing traders and investors. The service identifies growth stocks that are generally overlooked and value stocks that are usually undervalued by the market. The growth and value stocks we select have significantly outperformed the broader market indices. Full Article

RTTNews. Morning Market Briefing: Stocks Likely To Rally Following China's Decision To Let Yuan Float - U.S. Commentary. June 21rst, 2010

Morning Market Briefing  Mon Jun 21 09:01 2010 


Jun 21, 2010 Stocks Likely To Rally Following China's Decision To Let Yuan Float - U.S. Commentary Stocks are on pace for a sharply higher open on Monday, as global markets are cheering China's decision to let its currency float against the dollar. The major index futures are all firmly in positive territory, with the Dow futures up by 120 points. Full Article

Economic News

Jun 21, 2010 U.K. Home Price Inflation Slows House price inflation in England and Wales slowed in June compared to May, latest figures have shown. The slowdown in price growth came due to a sharp increase in the number of properties coming on to the market following the abolition of Home Information Packs. Full Article
Jun 21, 2010 Economy At Crossroads?The warnings are coming fast and furious. The wobbly nature of the recovery that has kept traders in tenterhooks is creating more uneasiness among traders, given the recent spate of soft economic readings. Full Article
Jun 21, 2010 Moody's Raises Indonesia's Rating Outlook Moody's Investors Service raised Indonesia's sovereign rating outlook to positive on Monday, citing the capacity of the nation for sustained strong growth and the overall stability as well as effectiveness of its fiscal and monetary policies. Full Article
Jun 21, 2010 China Rules Out One-Off Yuan Revaluation China's central bank on Sunday said that it intends to keep the yuan "basically stable" and is not planning an immediate one-off revaluation of the currency. The comments come a day after the bank announced that it had decided to reform the exchange rate and make it more flexible. Full Article

Corporate News

Jun 21, 2010 Corn Products to buy AkzoNobel's starch unit for US$1.3 blnMonday, Corn Products International Inc. (CPO) said it agreed to buy specialty starch business National Starch from the Dutch firm Akzo Nobel NV (AKZOY.PK) for US$1.3 billion in cash. The company expects the deal to close in the third quarter of 2010, subject to regulatory approvals. In addition, Corn Products said it expects the purchase to be accretive by the end of year 2011. Meanwhile, Akzo Nobel noted that the buyer will also assume certain pension and employee benefit liabilities. Full Article
Jun 21, 2010 Biovail, Valeant Pharma agree to mergeMonday, Valeant Pharmaceuticals International (VRX) and Biovail Corp. (BVF) agreed to merge in a share swap deal. Under the terms of the agreement, Valeant shareholders will also get a one-time special dividend of $16.77 a share just prior to the deal closure. The newly formed company, which will be called Valeant Pharmaceuticals International Inc., will pay all shareholders an additional one-time dividend of $1 a share. Further, the companies said that the new company will be held 50.5% by holders of Biovail and 49.5% by holders of Valeant. Full Article
Jun 21, 2010 Ralcorp to buy American Italian Pasta Co. for about $1.2 blnMonday, Ralcorp Holdings, Inc. (RAH) said it agreed to acquire the entire outstanding shares of American Italian Pasta Co.'s (AIPC) common stock for $53.0 per share in cash, for a total purchase price of about $1.2 billion, net of cash acquired. The company expects the transaction to close during its fourth quarter ending September 30. Further, Ralcorp anticipates the purchase to boost fiscal 2010 adjusted earnings per share by at least $0.50. Also, the company provided earnings guidance for the third quarter. Full Article
Jun 21, 2010 BP says oil spill costs hit $2 bln markMonday, BP plc (BP) said the costs related to the oil spill in the Gulf of Mexico, including its effort to contain the spill, claims, grants to affected states, and government-related expenses, touched $2 billion. The company said that so far it paid over $105 million in damages. BP is now planning to raise $50 billion, to cover the cost of the largest oil spill in U.S history, said media reports. Full Article
Jun 21, 2010 Kimco Realty names its chief accounts officer as new CFOMonday, Kimco Realty Corp. (KIM) said it is appointing Glenn Cohen as executive vice-president and chief financial officer. Cohen has been serving as the chief accounting officer of the company since 2009. Further, the company named Barbara Pooley as its executive vice-president and chief administrative officer. Full Article
Jun 21, 2010 Heinz buys Chinese soy sauce maker Foodstar for $165 mlnMonday, HJ Heinz Co. (HNZ) agreed to buy China-based soy sauces and fermented bean curd maker Foodstar for $165 million from private equity firm Transpac Industrial Holdings Ltd., and various Transpac Funds. The acquisition also includes a possible extra payout in 2014 based on the performance of the business. The company expects the purchase to boost sales in China by $300 million annually. Full Article

Todays WS Events

Jun 21, 2010 Ralcorp Holdings Conference Call At 9:00 AM On American Italian Pasta Acquisition Ralcorp Holdings Inc. (RAH) will host a conference call at 9:00 AM ET, on June 21, 2010, to discuss the acquisition of American Italian Pasta Company. To access the live webcast, log on at To hear the live call, dial 1-866-610-1072 (US) or 1-973-935-2840 (International). A replay of the call can be heard by dialing 1-800-642-1687 (US) or 1-706-645-9291 (International) with passcode 83096717.
Jun 21, 2010 Valeant And Biovail Joint Conference Call At 8:30 AM ET Valeant Pharmaceuticals International (VRX) and Biovail Corp. (BVF) will host a conference call at 8:30 AM, ET, on June 21, 2010, to discuss the merger deal. To access the live webcast, log on at or To hear the live call, dial (877) 295-5743 (US) or (973) 200-3961 (International) with access code 83365938.

Money Morning : Four Factors to Consider Before Determining Your Long-Term View on U.S. Stocks. June 21rst., 2010

June 21, 2010

Four Factors to Consider Before Determining Your Long-Term View on U.S. Stocks

By Jon D. Markman, Contributing Writer, Money Morning

Stocks rose worldwide over the past week -- ranging from +2% in U.S. big caps to +6% in gold -- as investors swelled with sudden courage in response to positive reports on Chinese economy and glimmers of hope that European governments can get their financial houses in order.  

The week's results erased four weeks of losses, including the despairing session that ensued on June 7 after a disappointing report on U.S. employment.  Meanwhile, the result of the past 35 trading days, or seven calendar weeks, are still largely negative, ranging from a loss of 5.5% for U.S. stocks and -8.5% for Europe. Only gold stocks have eluded the smoke monster, rising 7% in the span.

The variation in one-week and one-month results illustrate perfectly how investors are showing that they are hopeful but unconvinced that recent strength in gross domestic product (GDP) growth and corporate income advances are sustainable, and therefore won't buy stocks heavily until prices are so cheap that they discount worst-case scenarios. In other words, they want a high risk premium before buying -- sort of like demanding a 72-month warranty before buying an expensive car.

To read about the four factors you should consider before investing click here.

Markman on...
- What no one is telling you about this new stock market...

How to Profit When the U.S. Bond Market Tanks

The U.S. Bond market is an accident waiting to happen. As stocks begin to rally and fears relax, the Fed will have no choice but to clamp down on our easy money. Mortgage rates have already started to inch back up. Yet you can make money from the new bond market about twice as fast as everyone else loses it. Get all the details here.

Money Morning Mid-Year Forecast: The Dollar Headed for Some Change

By Larry D. Spears, Contributing Writer, Money Morning

In spite of an assortment of economic uncertainties at home, the U.S. dollar has been the star of the currency world for most of 2010. Spooked by persistent and seemingly insurmountable debt problems east of the Atlantic and the specter of unsustainable growth and potential inflation on the Pacific side of the globe, savers and investors fled European and Asian currencies for the relative safe haven of the dollar.

As Keith Fitz-Gerald, Money Morning's Chief Investment Strategist, pointed out last week (June 10), from January through May, the dollar gained ground against all but two of the world's leading currencies - China's yuan and the Japanese yen - and it retained parity with them. The greenback appreciated by as much as 16% versus the struggling euro, which last week (June 8) briefly dipped to a four-year low below $1.20, and 13% against the British pound.

The InterContinental Exchange's (ICE) U.S. Dollar Index (USDX), which measures the dollar's value versus a trade-weighted basket of six leading foreign currencies, climbed from a low of 76.732 on Jan. 14, 2010, to an intra-day high of 88.586 on June 8.


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"ALL BRANCHES... of our government ARE IN BUSINESS with Wall Street..."
from Money Morning Reader, T.S.

Buy, Sell or Hold: Cummins Inc. (NYSE: CMI) is a High-Powered Engine Maker That's Revving Up Its Revenue

By Horacio R. Marquez, Contributing Editor, Money Morning

Nestled in the heartland of America, Cummins Inc. (NYSE: CMI) is an icon of American manufacturing done right. And now that it's being powered by new technology, emerging markets growth and new regulatory standards, the company is ready to book serious profits.

Founded almost 100 years ago and publicly traded since 1957, Cummins dominates the diesel truck engine market in the United States and is strongly increasing its international presence.

The high quality, efficiency and durability of the engines Cummins designs and builds are the foundation of the company's leadership. And its strong and disciplined cost controls, inventory, and receivable management are vastly superior to that of its competition.

Read full story...

THE WALL STREET JOURNAL : China Real Time Report.- Dissecting China’s Yuan Moves. June 21rst., 2010


PBOC’s Yuan Statement: No One-Off Revaluation

NYT : World and Business. June 21rst, 2010


As China Aids Labor, Unrest Is Still Rising
Laws enacted in 2008 to protect workers have raised worker consciousness and may be contributing to a rise in labor disputes.

Car Bombs Hit Crowds Outside Bank in Baghdad
Two bombs detonated outside Iraq’s Bank of Trade, killing 26 people in the second attack on a major financial institution in eight days.

Barriers Removed in Kyrgyzstan Despite Uzbek Protests
Uzbeks had pleaded with the government to keep the jury-rigged roadblocks in Osh but officials refused, saying that all parts of this city had to be open to everyone.

More World News


In NBC-Comcast Deal, Quiet Concerns
As public comments on Comcast’s proposed merger close, local television broadcasters have been noticeably silent about the plans of the cable provider, known as a bruising competitor.

Banking Lobbyists Make a Run at Reform Measures
Maneuvering continues over risky wagers on the market and selling off hedge funds and private equity units.

As China Aids Labor, Unrest Is Still Rising
Laws enacted in 2008 to protect workers have raised worker consciousness and may be contributing to a rise in labor disputes.

More Business News