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Mar 6, 2011

Financial And Forex Info: The Australian Capital Circle: Rio weighs in on carbon tax






Capital Circle Newsletter

Rio weighs in on carbon tax
 
The demands for compensation to flow from the carbon tax are beginning to flow.

The PM's day, per the press office: Julia Gillard has a full schedule ahead of her in the coming days while in the US. The first event on her official program is a visit to the Lincoln Memorial where she will announce a $3 million Australian contribution to the US's official Vietnam memorial. (more here).
She will meet US President Barack Obama at the White House tomorrow. She will also address the Congress, meet US Treasury secretary Timothy Geithner, Federal Reserve chairman Ben Bernanke and US trade representative Ron Kirk. Ms Gillard has received a briefing from Australia's ambassador to the US, Kim Beazley.
Tony Abbott has just arrived in Adelaide, where he will be based for the next 24 hours.
Victorians - on the move: Former ALP secretary Nick Reece is moving to Canberra to head up the PM's strategy unit (more here). He follows returning chief of staff Ben Hubbard into the PMO, and takes to eight the number of former Victorian Government staff now on the hill (more on that here). The move also follows the exit of three ministerial chiefs-of-staff in the last week.
New paradigm: Lea Guy has finished working in Independent MP Bob Katter's office. Lisa Van Oyen has finished working as WA National MP Tony Crook's media adviser, too.
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The Australian leads with a report that
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Financial And Forex Info | The Australian Business Briefing : CVC in $565m carsales sell-off







Update for Mon Mar 07 08:21:38 EST 2011 
CVC in $565m carsales sell-off
carsales.com Nabila Ahmed CVC Asia Pacific's Nine Entertainment is set to sell its $565 million stake in carsales.com to institutional investors before the market opens today.
 
ASX deal will drive growth: Bocker
Bourses join Sarah-Jane Tasker THE Singapore Exchange has stepped up its push to take over the Australian Securities Exchange.
 
Challenger thrives on annuity demand
Dominic Stevens Richard Gluyas IT could be the annuity industry's equivalent of the commodities boom -- a generation of equities-shy baby boomers seeking a stable income.
 
Oil hits a high over Middle East unrest
oil price Sarah-Jane Tasker THE oil price has hit its highest level in 2 1/2 years in offshore trading as the political unrest in the Middle East continues.
 
Small lenders may be forced out
John Symond Annabel Hepworth THE executive chairman of home lender Aussie, John Symond, has warned the proposed ban on loan exit fees could force out small lenders.
 
Beijing eyes more foreign mines
IRON ORE Michael Sainsbury, China correspondent THE Chinese government has signalled fresh efforts to influence the price of iron ore by buying foreign mines.
 
Rio urges carbon tax protection
David peever Sid Maher and Sarah-Jane Tasker JULIA Gillard has been put on notice that business will demand her carbon pricing plan offers better compensation than Kevin Rudd's 2009 scheme.
 
Noni B founders shrug off takeover talk
nonib Teresa Ooi THE founders and major shareholders of womenswear retailer Noni B have rejected speculation that the group is a takeover target.
 
Financial Markets
Mining stocks trump raw commodities
Rio Tinto mine Tatyana Shumsky INVESTORS may be better off buying shares of mining companies than the commodities they produce, a new study shows.
 
ASX deal will drive growth: Bocker
Chase to shepherd Glencore through float
 
Financial Markets Coverage
 
Mining & Energy
Mining stocks trump raw commodities
Rio Tinto mine Tatyana Shumsky INVESTORS may be better off buying shares of mining companies than the commodities they produce, a new study shows.
 
Rio urges carbon tax protection
Beijing eyes more foreign mines
 
More Mining & Energy Coverage

Financial An Forex Info News: Big four banks maintain loan target despite inflationary fears





The mainland's four largest banks expect to issue loans totalling nearly three trillion yuan (HK$3.55 trillion) this year - almost unchanged from last year - according to bankers with knowledge of the matter.The combined loan target of the big four lenders - Industrial and Commercial Bank of China (SEHK: 1398), Bank of China, China Construction Bank (SEHK: 0939, announcements, news) , and Agricultural Bank of China - suggests the banking sector aims to maintain its loan approval targets despite Beijing's efforts to contain inflation.

The big four combined extended 3.1 trillion yuan in loans last year. Normally, loans by the top four lenders account for 35 to 40 per cent of the national total and their ambitious loan targets signal credit expansion of more than 7.5 trillion yuan nationwide in 2011.
"New loans of 7.5 trillion yuan this year appear to be a big number since the central government is determined to tighten monetary policies," said Orient Securities' analyst Jin Lin. "The sticking point is whether the banks would have enough funds to support that loan growth."
Mainland banks extended a record 9.6 trillion yuan loans in 2009 followed by 7.95 trillion yuan last year. In 2009, credit issued by the banks was nearly double Beijing's target of five trillion yuan while last year's number also exceeded the government's preferred quota of 7.5 trillion yuan.
A full-year loan quota is seen as a key economic tool that Beijing uses to control fixed-asset investment and consumer prices.
"The central bank initially planned to set a full-year quota of six trillion yuan," said a banker who was informed about the policy plan.
"But the banking industry actively maintained its faster pace of loan growth."
Officials in Beijing said recently that they would not unveil a clear-cut full-year loan quota this year, letting banks decide themselves. But they said the central bank would still play a key role in controlling loan growth by adjusting the reserve requirement ratio - the percentage of cash that banks must deposit at the central bank to hedge against risks.
A higher reserve ratio could hamper banks from extending loans freely.
Beijing has raised the reserve requirement ratio five times since November to ease inflationary pressure and curb asset bubbles.
A clutch of mid-size banks are now looking to tap the stock markets for fresh funds, a move to replenish their capital and support their future loan growth.
Among them, Bank of Shanghai and Guangdong Development Bank are seeking to float initial public offerings to raise tens of billions of yuan.
China Minsheng Banking Corp is expected to raise 27 billion yuan in a refinancing that involves share placement on the Hong Kong stock exchange and the issuance of convertible bonds at the Shanghai bourse.
Mainland banks issued total credit of 1.04 trillion yuan in January, the central bank said. This was about 100 billion yuan more than the  central bank expected.
The loan figure for last month has yet to be officially announced.
The official China Securities Journal said the banks extended about 600 billion yuan in February.

MarketWatch: Spotlight on China



Financial And Forex Info: How To Survive an oil shock, Kong Kong Regulators ..and More: China Morning Post





From China Morning Post

How to survive an oil shock

Hong Kong regulator goes after CEO in jail

Asian growers, machinery firms to gain from soaring food prices

Commodities outperform US dollar for third straight month


MarketWatch | Market Pulse: Obama may tap U.S. reserves to control oil prices: report



By MarketWatch 
 
SAN FRANCISCO (MarketWatch) -- The Obama administration is considering releases from the U.S. strategic oil reserve as one of of easing prices that have soared above $104 a barrel in reaction to continuing violence in North Africa and the Middle East, Bill Daley, the president's chief of staff, said Sunday. The White House is "looking at all the options out there," including tapping the strategic reserve, Daley said on "Meet The Press." Oil prices have soared as antigovernment protests have toppled the governments of Egypt and Tunisia, led to a state of near-civil war in oil-rich Libya and have led to widespread demonstrations and violence from Morocco to Yemen, Qatar, Oman, Bahrain, Iran and Iraq.

Japanese Minister waiver grant of U.S. $ 600 | BBC


Japanese media reported that Foreign Minister of that country, Seiji Maehara, resigned amid a scandal over a cash donation he received.
The officer has been at the center of controversy after he admitted receiving $ 600 from a South Korean citizen living in Japan.
Japanese law prohibits politicians accept money from foreigners in order to prevent foreign influence in domestic affairs.
Japan lives in a large community of Koreans, who, despite having been much of their lives there, do not have Japanese nationality.
According to experts, the scandal is a blow for Prime Minister, Naoto Kan, who fights for parliament to approve him several appropriations bills and whose popularity has been declining in recent weeks.

More on This Story

Related Stories

NYT: Today's Headlines: World | U.S. | Politics | Business | Technology | Sports | Arts | New York/Region | Magazine | Editorials | Op-Ed | On This Day .


Today's Headlines




TOP NEWS

States Prosecute Fewer Teenagers in Adult Courts

By MOSI SECRET
With states raising the age of adult criminal responsibility, New York might be, by year's end, the only state where adulthood, in criminal matters, begins at 16.

In Libya, Both Sides Gird for Long War as Civilian Toll Mounts

By DAVID D. KIRKPATRICK and KAREEM FAHIM
Gunfire could be heard in Tripoli on Sunday as both sides of the conflict girded for a confrontation in the coming days at the port of Surt, Col. Muammar el-Qaddafi's birthplace, which blocks the rebels' progress toward the capital.

Business Side of Egypt's Army Blurs Lines of Aid From U.S.

By ARAM ROSTON and DAVID ROHDE
The $1.3 billion a year in military aid that Washington gives Cairo has served to shore up a bureaucracy prone to corruption.
QUOTATION OF THE DAY
"The sad thing is that I'm very important to them, but I barely know them. I feel shame about that, but that's probably because I was trained in a different era."
DR. DONALD LEVIN, a psychiatrist who has abandoned talk therapy in favor of medicating his patients.

N.Y. / Region


Video: City Critic: School Lunches

The City Critic finds a startling discovery in New York City school lunches: real food.
Opinion
Op-Ed Contributor

Giving Life After Death Row

Once I am executed, let my organs go to people who need them.
WORLD

In Libya, Both Sides Gird for Long War as Civilian Toll Mounts

By DAVID D. KIRKPATRICK and KAREEM FAHIM
Gunfire could be heard in Tripoli on Sunday as both sides of the conflict girded for a confrontation in the coming days at the port of Surt, Col. Muammar el-Qaddafi's birthplace, which blocks the rebels' progress toward the capital.

Women Fight to Maintain Their Role in the Building of a New Egypt

By SHARON OTTERMAN
The revolution included women, who upended traditional expectations of behavior. The challenge now, activists say, is to make sure they maintain their involvement.

Ex-Security Chief Hauled to Court as Egyptians Storm His Compound

By NEIL MacFARQUHAR and LIAM STACK
Hundreds of protesters in Cairo stormed a headquarters of the state security police, a hated organization that Habib el-Adly, the former interior minister accused of corruption, used to run.
U.S.

Talk Doesn't Pay, So Psychiatry Turns to Drug Therapy

By GARDINER HARRIS
Many psychiatrists, in large part because of how much insurance will pay, no longer provide talk therapy.

Soup Without Fins? Some Californians Simmer

By PATRICIA LEIGH BROWN
In a move that has infuriated many in San Francisco's Chinatown, a state bill would ban the sale and possession of shark fins, including the serving of shark's fin soup.

In Montana, an Economic Boon Faces Repeal Effort

By KIRK JOHNSON
The Legislature is considering a repeal of the six-year-old medical marijuana law that has created entrepreneurs and business for other industries.
POLITICS

To Quiet Critics, Romney Puts 2012 Focus on Jobs

By JEFF ZELENY
Mitt Romney made the case in a speech that the halting economic recovery provides the most compelling rationale that he should take on President Obama.

Organized Labor Hopes Attacks by Some States Help Nurture Comeback

By STEVEN GREENHOUSE
Efforts against unions in Wisconsin and elsewhere have energized them.

Both Sides Begin Efforts for Recalls in Wisconsin

By MONICA DAVEY
The fight over collective bargaining rights for public employees remained at an impasse, even as its political fallout grew larger.
BUSINESS

Off the Catwalk, the Battle for Hermès

By LIZ ALDERMAN
The LVMH conglomerate is angling to take over Hermès. But the Hermès family has rallied against the idea.
DealBook

For Hedge Fund Baron, Trial Poses Risk

By PETER LATTMAN
The insider trading trial against Raj Rajaratnam promises to deliver gripping drama, complete with confidential informants, wiretapped phones and high-profile witnesses.

MERS? It May Have Swallowed Your Loan

By MICHAEL POWELL and GRETCHEN MORGENSON
An obscure company claims to hold title to roughly half of the home mortgages in the nation - 60 million loans.

The Washington Post: Today's Headlines & Columnists. | Highlights | Politics | Nation| World | Business | Metro | Technology | Sports | Style



TODAY'S HIGHLIGHTS

Former mayoral candidate Sulaimon Brown says he struck a job deal with Vincent Gray campaign
Former mayoral candidate Sulaimon Brown told The Washington Post that he struck a deal last summer with the campaign of Mayor Vincent C. Gray to continue his attacks on incumbent Adrian M. Fenty in exchange for a city job if Gray won.
(By Nikita Stewart, The Washington Post)

Violence in Libya sows fears of long civil war
(By Leila Fadel , Anthony Faiola and Samuel Sockol, The Washington Post)

As more Americans stream entertainment, Netflix sees telecom giants in its queue
(By Cecilia Kang, The Washington Post)

In Afghanistan, U.S. shifts strategy on women's rights as it eyes wider priorities
(By Rajiv Chandrasekaran, The Washington Post)

Harriet Tubman vs. John Hanson: Statuary Hall smackdown
(By J. Freedom du Lac, The Washington Post)

More Today's Highlights

POLITICS
Harriet Tubman vs. John Hanson: Statuary Hall smackdown
Harriet Tubman has history on her side. But does she have the votes?
(By J. Freedom du Lac, The Washington Post)

More Politics


NATION
Harriet Tubman vs. John Hanson: Statuary Hall smackdown
Harriet Tubman has history on her side. But does she have the votes?
(By J. Freedom du Lac, The Washington Post)

More Nation

WORLD
Violence in Libya sows fears of long civil war
BENGHAZI, LIBYA - Government forces carried out a bloody siege of Zawiyah on Saturday, bombarding the rebel-held western city with mortar fire and deploying tanks in the streets and snipers on rooftops.
(By Leila Fadel , Anthony Faiola and Samuel Sockol, The Washington Post)

In Afghanistan, U.S. shifts strategy on women's rights as it eyes wider priorities
(By Rajiv Chandrasekaran, The Washington Post)

More World

METRO
Fighting interrupts DMV music awards in Crystal City
Brawling broke out Saturday night at a music and entertainment awards ceremony at a hotel in the Crystal City section of Arlington County, authorities said.
(By Clarence Williams and Martin Weil, The Washington Post)

Former mayoral candidate Sulaimon Brown says he struck a job deal with Vincent Gray campaign
(By Nikita Stewart, The Washington Post)

More Metro

BUSINESS
As more Americans stream entertainment, Netflix sees telecom giants in its queue
By any measure, Netflix is having a marquee year. It has 20 million subscribers, way up from 12 million just a year ago. Its stock has tripled in that time. During periods of peak Internet use, a full fifth of all American bandwidth consumption is people watching movies on Netflix.com. But the mo...
(By Cecilia Kang, The Washington Post)

How Iraq can build a robust economy
(Peter L. Rodriguez, The Washington Post)

More Business

TECHNOLOGY
As more Americans stream entertainment, Netflix sees telecom giants in its queue
By any measure, Netflix is having a marquee year. It has 20 million subscribers, way up from 12 million just a year ago. Its stock has tripled in that time. During periods of peak Internet use, a full fifth of all American bandwidth consumption is people watching movies on Netflix.com. But the mo...
(By Cecilia Kang, The Washington Post)

More Technology


SPORTS
No. 13 North Carolina claims ACC regular season title with 81-67 rout of No. 4 Duke in Chapel Hill
CHAPEL HILL, N.C. -- North Carolina finished off its fiercest rival and the Atlantic Coast Conference regular-season race with one strong performance.
(By AARON BEARD, AP)

Zimmerman, La Plata grab titles
(By Andy Marso, The Washington Post)

Northwest gives No. 5 Gaithersburg a test
(From Staff Reports, The Washington Post)

Wizards vs. Timberwolves: Kevin Love has 50th straight double-double, but Washington earns emotional win
(By Michael Lee, The Washington Post)

Virginia girls' basketball: Forest Park holds off Thomas Dale in a state quarterfinal
(From Staff Reports, The Washington Post)

More Sports

STYLE
Carolyn Hax: Blinded by weight
Hello, Ms. Hax: My twentysomething daughter is overweight. Doesn't eat right or exercise. Will NOT discuss. But - if we go shopping together, her physical self-loathing is so evident, a person could drown in it.
(By Carolyn Hax, The Washington Post)

Style Invitational Week 909: New uses for old prizes; the winning new Loser Mug
(By Pat Myers, The Washington Post)

More Style


Iraq and the Arab uprising
THE ARAB uprising has spread to Iraq, and in many ways the turmoil there resembles that of Egypt or Tunisia or Yemen. Thousands are taking to the streets on Fridays, only to be met by water cannon, tear gas and sometimes live ammunition. Dozens have been killed, and the government has taken...
(The Washington Post)

Better not to think twice
(The Washington Post)

Level the field on contracts
(The Washington Post)
 

NYT:: ALERT FGC BOLSA - FGC FINANCIAL MARKETS: Hong Kong Company Moves Swiftly on Ultrafast Broadband .



Alert Name: FGC BOLSA - FGC FINA
March 6, 2011 

BUSINESS DAY

For less than $26 a month, a scrappy Hong Kong company is offering 1,000-megabit-a-second broadband service — an unheard-of speed across much of America.