India gold futures reverse losses on dollar

India gold futures reverse losses on dollar

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MUMBAI (Reuters) - India gold futures reversed early losses on Monday supported by weak dollar overseas, analysts said.
The dollar fell, hitting its lowest in seven weeks on the euro, as investors emboldened by slowing U.S. job losses extended diversification into other currencies.
Gold and dollar often move in opposite direction.The most traded June contract was 0.29 percent higher at 14,548 rupees per 10 grams at 11:05 a.m. The contract had gained 1.5 percent last week."We forsee some appreciation in prices primarily due to bargain hunting," said Debjyoti Chatterjee, associate vice-president with ADMISI Commodity Services.
Gold may rally and trade in the range of 14,460-14,700 rupees, Chatterjee added.Gold may rally further if it manages to breach 14,750 rupees, said Vikas Vaid, assistant vice-president with Asit C. Mehta Commodity Services. 

Oil falls towards $58 on econ fears, eyes dollar

Oil falls towards $58 on econ fears, eyes dollar

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By Fayen Wong
PERTH (Reuters) - Oil fell towards $58 a barrel on Monday, reversing some of the previous session's near 3 percent gains, as investors took profit amid warnings that any global recovery will only be gradual.Oil rose more than 3 percent on Friday to touch a near six-month high as economic data showed fewer-than-expected jobs were lost in April and stress test results lifted some uncertainty over the health of major American banks.U.S. crude fell 47 cents to $58.16 a barrel by 0533 GMT. The contract rose $1.92 to settle at $58.63 on Friday.London Brent crude fell 31 cents to $57.83."Oil prices are driven by perceptions that the economic outlook is less pessimistic that previously thought. But the growth numbers we could be seeing from developed economies may not justify such price levels," said David Moore, a commodities strategist at Commonwealth Bank of Australia.
Still, encouraging news from China, the world's third-largest economy, helped support oil at above $58 a barrel.A top China central banker said the government's stimulus plan has worked better than expected, while crude imports data showed a spike in demand.

Financials put Pandit on top among NRI-run firms

Financials put Pandit on top among NRI-run firms

Citigroup's Vikram Pandit may have been named among worst CEOs ever in America, but in terms of financial performance for the first quarter of this year, the banking behemoth has emerged as one of the best performers among the US companies run by persons of Indian origin.
While Citigroup bounced back into profitability in the first quarter of 2009, after five straight quarterly losses of multi-billion dollars, IT firm Cognizant Technology is possibly the only other American blue-chip company in this league to report a rise in profits for the same period.
In comparison, Indra Nooyi-led PepsiCo and Shantanu Narayen-led Adobe Systems posted declines in their first quarter profits.
Besides, Hartford Financial Services, led by Ramani Ayer, plunged into heavy losses in the first quarter of this year, from profitability in the year-ago period.
Another blue-chip global enterprise run by an India-born person, ArcelorMittal, also posted a billion-dollar loss in its first quarter net profit. The world's biggest steelmaker, run and majority owned by Lakshmi Mittal, recorded a net loss of 1.1 billion dollar in the quarter ended March 31, 2009, as against a profit of 2.4 billion dollar in the year ago quarter

GLOBAL MARKETS - Asia shares hit 7-mth high; some see pullback

GLOBAL MARKETS - Asia shares hit 7-mth high; some see pullback

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By Rafael Nam
HONG KONG (Reuters) - Asian shares rose to their highest in seven months while the safe-haven dollar extended its decline on Monday, but warnings about an impending turnaround are growing amid weak corporate results and views that any global recovery will only be gradual.
For now, traders focused on a smaller-than-expected number of job losses in the United States that reinforced expectations that the global economy, while still weak, may have hit bottom. Increased optimism about the global financial system is also feeding the rally.
European shares were set to gain ahead of results from bellwhether HSBC, while oil prices retreated a tad from the 6-months highs above $58 a barrel hit on Friday.
The gains in stock markets -- with the MSCI's index of Asia-Pacific stocks outside Japan up 52 percent since their 2009 low hit in early March -- are also sparking a plunge in risk premiums in Asian credit levels. 
More: http://in.biz.yahoo.com/090511/137/batjyz.html

ART MARKET WATCH

ART MARKET WATCH

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MARKET WATCH: Economy indicators push up energy prices

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HOUSTON, May 7 -- Energy prices jumped May 6 in the New York market, driven by a better-than-expected report on US unemployment, a smaller-than-expected oil ...

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Energy stocks dip with broad market; oil hits $58, cools

MarketWatch - ‎16 minutes ago‎

By Steve Gelsi, MarketWatch NEW YORK (MarketWatch) - Energy stocks fell back from gains earlier in the session on Thursday as the broad market moved down on ...

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JPMorgan Chase to Participate in a CLSA

JPMorgan Chase to Participate in a CLSA Conference Call Hosted by Mike Mayo 
NEW YORK--(BUSINESS WIRE)--Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., will participate in a conference call hosted by CLSA Financials Analyst, Mike Mayo at 11:00 a.m. (Eastern) on Monday, May 4, 2009. CLSA is affiliated with Calyon Securities (USA) Inc.
A link to the live audio webcast will be posted on the day of the conference call to www.jpmorganchase.com under Investor Relations, Investor Presentations.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Penske: Chrysler support will continue

Penske: Chrysler support will continue 
ESPN - ‎21 hours ago‎

By David Newton RICHMOND, Va. -- Roger Penske denied on Saturday a report that Chrysler will pull its support from NASCAR after this season.

Dodge teams still hopeful in wake of Chrysler filing Nascar

Chrysler's history: timeline Los Angeles Times

Pender: Will Ford benefit from bankruptcies? 
San Francisco Chronicle - ‎14 hours ago‎

Will Chrysler's bankruptcy and a possible bankruptcy filing by General Motors help or hurt Ford, the only US automaker that has not accepted a government bailout?

Ford outsells Toyota as auto sales drops go on Detroit Free Press

Analyst Says Ford Is Poised For Success WFPL

Globe negotiations continue as new deadline approaches

Globe negotiations continue as new deadline approaches

Boston Globe - ‎2 hours ago‎

With a midnight deadline looming that could determine the future of the Boston Globe, the newspaper's largest union said it has offered cuts in wages and benefits that "should be more than adequate" to meet the demands of the New York Times.

NY Times extends deadline for Boston Globe cuts MarketWatch

New York Times negotiates with the Boston Globe. Motley Fool

Fiat chairman calls GM's Opel an 'ideal partner'

Fiat chairman calls GM's Opel an 'ideal partner'

MarketWatch - ‎1 hour ago‎

By Shawn Langlois, MarketWatch SAN FRANCISCO (MarketWatch) -- Fiat SpA reportedly confirmed interest in General Motors Corp.'s Opel division in a move that would further extend the Italian automaker's global reach as it grapples with the historic ...

Fiat confirms Opel deal interest BBC News

Fiat chairman: GM's Opel an "ideal" partner, an "extraordinary ... Los Angeles Times

Chrysler's Fall May Help Administration Reshape GM  
New York Times 

Auto task force members, from left: Treasury's Ron Bloom and Gene Sperling, Labor's Edward Montgomery, and Steve Rattner. By DAVID E. SANGER and BILL VLASIC WASHINGTON - Fresh from pushing Chrysler into bankruptcy, President Obama and his economic team ...

Video: Barack Obama announces Chrysler to file for bankruptcy ITN NEWS

Comment by Gary ChaisonProf. of Industrial Relations, Clark University

 

Insurance still pillar of Berkshire empire-Buffett

Insurance still pillar of Berkshire empire-Buffett
By Lilla Zuill and Jonathan Stempel
OMAHA, Neb., May 3 (Reuters) - Being a big insurer will cost Berkshire Hathaway Inc (BRKa.N) (BRKb.N) dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said.

Buffett Dismisses Government Stress Tests, Praises Wells Fargo Bloomberg

Buffett dispenses gloom at Berkshire fest Washington Post

Fiat confirms Opel deal interest

Fiat confirms Opel deal interest

Italian carmaker Fiat has confirmed for the first time that it is interested in a takeover of Opel - the German business of General Motors (GM).

Germany wants long-term strategy for Opel suitors   Reuters

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