trade – News Stories About trade - Page 5

Aug 6, 2007 4:19 AM CDT

Ortega Snubs US, Seals Iran Trade Pact

US wary of Iranian toehold in Latin American 'backyard'

(Newser) - Nicaragua has finalized a trade deal with Iran worth hundreds of millions of dollars despite bitter opposition from Washington, the Guardian reports. The deal will exchange Nicaraguan bananas, coffee and meat for farm equipment and Iranian funds for infrastructure projects, including a hydroelectric dam, milk-processing plants, housing and a health...

China's Surplus Soars to $26.9B

Jul 10, 2007 2:59 PM CDT

China's Surplus Soars to $26.9B

Weak yuan is driving China's economy to a record expansion; trade surplus nearly doubled

(Newser) - China's trade surplus surged to a record $26.9B in June, an 87% increase since last year. Economists attribute the trade gap to China's significantly—as much as 40%—underpriced currency, the yuan, reports Bloomberg. Half of China's surplus is with the US, which recently began preparing legislation to sanction...

Pound Soars Against Dollar

Jul 4, 2007 1:24 PM CDT

Pound Soars Against Dollar

Sterling passes $2.02, raising hopes and filling coffers

(Newser) - The British pound climbed against the dollar today to a level not seen since June 1981, nudging past $2.02 before closing at $2.0136. The third consecutive trading session with a 26-year high came as the UK braced for a interest rate hike and the US braced for an...

Terror Groups Use Commodity Trades to
Move Money

Jul 2, 2007 10:36 AM CDT

Terror Groups Use Commodity Trades to Move Money

Looks like food aid, funds insurgency

(Newser) - Commodity trading is the latest avenue for terrorists and narcotics traffickers to launder large amounts of money, the Wall Street Journal reports. Basic foodstuffs, like sugar, flour and oil, are legitimately bought on the market and transferred to trade-restricted Iran or Palestine in the guise of legal aid. There they're...

Hong Kong Poised to Become Asia's Big Apple

Jun 30, 2007 7:12 PM CDT

Hong Kong Poised to Become Asia's Big Apple

Port city turning into financial capital

(Newser) - Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political...

EU Set to Ban Cat and Dog Fur

Jun 19, 2007 6:14 AM CDT

EU Set to Ban Cat and Dog Fur

Pet fur is used in everything from coats to stuffed toys

(Newser) - The EU is about to ban cat and dog fur imports, in a bid to stop the trade in pet pelts in China, where the way the animals are slaughtered is called "horrific." The fur is used as lining in boots and gloves, in stuffed toys, and in...

Dow Falls as Bond Yields Soar

Jun 13, 2007 7:13 AM CDT

Dow Falls as Bond Yields Soar

Record high yields threaten higher mortgage rates

(Newser) - US bond yields have hit a five year high—bringing the threat of higher interest rates, costlier home mortgages and a slowing economy, the Wall Street Journal reports. The benchmark 10-year Treasury note rose to 5.25 per cent yesterday. Rising bond yields echo throughout the economy, making stocks less...

China Loosens Up on Yuan

May 18, 2007 10:40 AM CDT

China Loosens Up on Yuan

Currency move may be concession to US—or attempt to pop a stock market bubble

(Newser) - Just days before a meeting with US Treasury Secretary Henry Paulson, China is taking baby steps toward letting its currency trade more freely. The government also raised interest rates and the reserve on bank loans today, signaling concern over the country's red-hot economy. China's trade surplus—which some American politicos...

Banker Busted
For Insider Trading

May 3, 2007 10:32 PM CDT

Banker Busted For Insider Trading

Credit Suisse hire charged with passing tips to Pakistani banker

(Newser) - Federal prosecutors and the SEC are charging a Credit Suisse banker with relaying insider information to an unnamed Pakistani banker who made more than $7 million on illegal trades. Hafiz Nasseem, who started at the bulge-bracket bank last year, is said to have immediately started sharing tips on upcoming deals—...

Futures Market Predicts Libby Pardon

Mar 11, 2007 4:28 PM CDT

Futures Market Predicts Libby Pardon

Online traders put their money on Scooter walking

(Newser) - Traders at the online market Intrade.com betting big that President Bush will pardon Scooter Libby. CNN reports that at the "prediction market," where people buy and sell futures contracts on real-world events, 63 percent of traders are bullish on the prospect of Libby receiving a pardon...