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May 30, 2011

Standard & Poor's | Latin America Highlights: Selected Reports

Financial & Forex Info | The Australian Business Briefing: Rich hit hardest as house prices fall








Australian Business update for Tuesday, 31 May 2011
Rich hit hardest as house prices fall
housing Potts Point James Glynn CAPITAL city house prices remained on a downward trajectory in April, with the top end of the market the poorest performer.
 
Optus wary of Foxtel-Austar merger plan
Optus CEO Paul O'Sullivan Ross Kelly A MERGER between Foxtel and pay-TV company Austar United could create a new barrier to competitors wanting to access content, Optus said.
 
Ebro's bid for Sunrice on edge
SunRice Andrew Main SUNRICE Group shareholders were this morning close to deadlock on whether to accept Spanish group Ebro Rice's $610 million bid.
 
Aquila sees $1.25bn cost for new mine
Aquila results Robb M. Stewart AQUILA Resources put a $1.25 billion price tag on developing a coking coal mine in northeast Australia with Brazilian partner Vale.
 
Future Fund won't buy EU rescue bonds
David Murray Enda Curran THE Future Fund has no plans to buy the debt being issued to rescue ailing euro-zone countries, chairman David Murray says.
 
$10.4bn deficit bigger than expected
port containers THE current account deficit widened further than expected to $10.4 billion in the first quarter, and dwelling approvals in April were weak.
 
Germany mulls end to Greek impasse
Greece protests May 30 Marcus Walker and Alkman Granitsas GERMANY is considering dropping its push for a rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece.
 
Sony to lower launch costs
Sony portable video device Daisuke Wakabayashi and Juro Osawa SONY is taking steps to lessen the investment burden usually associated with the launch of a new videogame device.
 
Financial Markets
Miners, banks lead sharemarket higher
stock exchange THE Australian sharemarket was up nearly 1 per cent by early afternoon in thin trading, with gains across the materials and finance sectors.
 
Future Fund won't buy EU rescue bonds
Italy finds acceptable bond demand
 
Financial Markets Coverage
 
Mining & Energy
Aquila sees $1.25bn cost for new mine
Aquila results Robb M. Stewart AQUILA Resources put a $1.25 billion price tag on developing a coking coal mine in northeast Australia with Brazilian partner Vale.
 
China stokes mining boom
$10 carbon tax wouldn't work: Macarthur
 
More Mining & Energy Coverage

GATA | THE GATA DISPATCH: | News items suggest gold's long-term trend remains favorable






10:50a ET Monday, May 30, 2011
Dear Friend of GATA and Gold:
A few items worth noting. ...
The New York Times this week acknowledged Utah's experiment with encouraging use of gold and silver as regular currency:
http://www.nytimes.com/2011/05/30/us/30gold.html
Bloomberg News reports that China's national gold mining company wants to acquire African assets in anticipation of rising gold prices for the next three years:
http://www.bloomberg.com/news/2011-05-30/china-national-gold-seeks-afric...
MineWeb's Rhona O'Connell finds that gold increasingly is trading as a currency rather than as a commodity:
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=128173&sn=Deta...
And in commentary published at Al Jazeera, Chinese economist and former central banker Yu Yongding argues that greater internationalization of China's currency will reduce the country's need to hold U.S. dollar assets. The commentary is headlined "The Renminbi's Journey to the World" and you can find it here:
http://www.aljazeera.com/indepth/opinion/2011/05/2011528134321176264.htm...
These items all suggest that the long-term trend for gold remains favorable.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Join GATA here:
World Resource Investment Conference
Sunday-Monday, June 5-6, 2011
Vancouver Convention Centre East
Vancouver, British Columbia, Canada

http://cambridgehouse.com/conference-details/world-resource-investment-c...

Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England

http://www.gatagoldrush.com

Support GATA by purchasing gold and silver commemorative coins:

https://www.amsterdamgold.eu/gata/index.asp?BiD=12
Or by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
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NYT: Afternoon Business News: As Hard Times Bite, Drug Trade Flourishes in Spanish Port



BUSINESS

As Hard Times Bite, Drug Trade Flourishes in Spanish Port

By RAPHAEL MINDER
At the same time the police are complaining about salaries not being paid, they are having to combat a pickup in illegal drugs trafficking.

Russia Unexpectedly Raises a Key Interest Rate

By REUTERS
The chairman of Russia's central bank cited a weekend decision to lift a grain export ban as a risk factor for inflation.

Hackers Post Fake Tupac Shakur Article on PBS Site

By JOHN MARKOFF
A group of hackers took over the PBS Web site on Saturday night, posting PBS passwords and fake news stories.

At I.M.F., a Strict Ethics Code Doesn't Apply to Top Officials

By GRAHAM BOWLEY
There is one set of ethics guidelines for the rank-and-file staff and another for the 24 elite executive directors who oversee the organization.

Retailers Offer Apps With a Catalog Feel

By STEPHANIE CLIFFORD and CLAIRE CAIN MILLER
Retailers see a lucrative future in apps for tablet devices that resemble magazines.


Financial & Forex Info | The Australian Business Briefing: China Stokes Mining Boom







Australian Business update for Tue May 31 08:13:04 EST 2011 
China stokes mining boom
Chinese steel mill Michael Sainsbury, China correspondent CHINA's steel production is expected to soar by up to 25 per cent over the next five years, removing fears of a fall in demand for iron ore.
 
$10 carbon tax wouldn't work: Macarthur
Keith De Lacy Glenda Korporaal and Annabel Hepworth MACARTHUR Coal chairman Keith De Lacy yesterday hit out at the proposed $10 a tonne carbon tax starting rate.
 
Europe dips as Greek banks tumble
trader Barbara Kollmeyer EUROPEAN stocks edged lower, with volumes thinned by holidays in Britain and the US.
 
China to help EU overcome debt crisis
Greece sunset Eliot Gao THE risk of default on European Union sovereign debt is less than markets expect, a Chinese state researcher says.
 
Floods swamp the number crunchers
Cyclone Yasi Paul Cleary THE task of measuring Australia's constantly churning economy can be a thankless one.
 
Last-minute lease bid by Palmer
Clive Palmer Andrew Fraser MINING magnate Clive Palmer waited until yesterday morning to apply for a lease over the area where he plans an $8 billion coal project.
 
Suncorp braces for fall after disasters
Brisbane flooded Mitchell Bingemann and Scott Murdoch AUSTRALIA'S largest general insurer, Suncorp, is bracing for a short-term profit slump after the extraordinary string of natural disasters.
 
Funds move against Charter Hall
Charter Hall Bridget Carter HEDGE funds are trying to remove Charter Hall as the manager of the group's listed office trust.
 
Financial Markets
Italy finds acceptable bond demand
The Colosseum in Rome is a global landmark Emese Bartha ITALY has paid lower yields than a month ago to sell conventional bonds as investors showed acceptable demand for its debt.
 
Europe dips as Greek banks tumble
HSBC cashes in on yuan trading
 
Financial Markets Coverage
 
Mining & Energy
Last-minute lease bid by Palmer
Clive Palmer Andrew Fraser MINING magnate Clive Palmer waited until yesterday morning to apply for a lease over the area where he plans an $8 billion coal project.
 
Chevron close to domestic gas deal
Citi upbeat on iron ore for the long term
 
More Mining & Energy Coverage