NZ approves dairy farms deal with China
The New Zealand government has approved the sale of 16 dairy farms to a company controlled by a wealthy Chinese businessman, Jiang Zhaobai. The company didn't reveal how much it is paying, but said it would invest more than US$ 164 million in the first two years. It said the deal would supply high quality diary products to China. But the deal has sparked local objections to the increasing foreign ownership of the country's key industries.
HK shares start Year of Dragon strong
Hong Kong shares rose on the first day of trading in the Year of the Dragon, as dealers welcomed the US Fed's decision to keep interest rates low for at least the next two years. The Hang Seng Index added 328 points - or 1.6 pecent - to close at 20,439 on turnover of HK$ 60.84 billion. Citigroup said "equity markets seem to have decided that most of the likely bad news for 2012 has been discounted", adding that it remains bullish for the year ahead. The US central bank said it expects interest rates to stay at "exceptionally low levels" at least until late 2014, instead of mid-2013 as previously forecast.
Nobel laureate Sargent on QE3 and the US economy
Jan. 11 - QE3 is a sideshow for the Federal Reserve, says economist and Nobel laureate Thomas Sargent. The Fed is limited in what it can do since rates are already so low.
My views on the accelerating economic collapse in both the US and Europe. I discuss the power elite using a corrupt political system to attack constitutional rights, criminal bankers stealing from taxpayers, the hopelessness of many unemployment, the destructive war on drugs and much more. Former LA Police Officer Mike Ruppert Confronts CIA Director John Deutch on Drug Trafficking www.youtube.com Iraq War Conspiracy part 1 Petro Dollar www.youtube.com UN to let Iraq sell oil for euros, not dollars archives.cnn.com Gaddafi gold-for-oil, dollar-doom plans behind Libya 'mission'? www.youtube.com
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Sudan and Kenya sign pipeline agreement
South Sudan and Kenya have signed an agreement to build an oil export pipeline to the Kenyan coast. On Friday, South Sudan announced it was shutting down its oil production because of a row with its northern neighbour, Sudan, through which all its oil is currently exported.
Sony seeking Olympus stake: report
Japanese electronics giant Sony is reported to be in talks to take a stake of up to 30 percent in Olympus as the camera firm looks to shore up its finances after a US$ 1.7 billion cover-up scandal. The Nikkei business daily says the electronics giant has proposed a capital and business tie-up with the camera and medical equipment maker, offering to take a maximum stake of about 20 to 30 percent. Several Japanese and foreign companies have been mentioned in the media as possible business partners for Olympus in the wake of the scandal.
CEOs of Blackberry maker resign
The founders and joint chief executives of Research in Motion, the Canadian company which makes BlackBerry mobile phones, have announced their resignations. Jim Balsillie and Mike Lazaridis said there came a time when it was necessary to pass the baton to new leadership. RIM has seen its share of the US smart-phone market decline sharply against rival Android and iPhone platforms. Mr Lazaridis will continue working at the company as vice chairman of its board and chairman of a new innovation committee, offering "strategic counsel" and promoting the BlackBerry brand worldwide. Mr Balsillie will remain a member of the board of directors.
The $1 Trillion Question – Health Care Reform – Bloomberg
Interview with Gale Wilenski, Former Medicare Administrator and Currently Senior Fellow at Project Hope (Bloomberg News)
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Italy PM wants rescue fund doubled
Italian Prime Minister Mario Monti wants the lending capacity of the euro zone's permanent rescue fund to be doubled to one trillion euros, according to German magazine Der Spiegel. "Monti argues that such a measure would create confidence in the currency union," Der Spiegel wrote. "He has informed the German government of his wishes." It said Mr Monti's fellow countryman and European Central Bank President Mario Draghi agreed the European Stability Mechanism (ESM) should strengthen its effective lending capacity beyond the 500 billion euros planned. He believes the leftover funds from the European Financial Stability Facility (EFSF), the temporary 440 billion euro fund lending to Ireland and Portugal, should be put at the ESM's disposal in addition to the 500 billion euros, Der Spiegel wrote.
Wall Street enjoys good week
US stocks posted their best week since Christmas, even with a mixed finish after strong earnings from tech bellwethers IBM and Intel contrasted with Google's disappointing report. For the week, the Dow rose 2.4 percent and the S&P 500 gained 2 percent as investors showed some relief that earnings didn't reflect the worst elements that battered the market in the last year, especially given the problems in the euro zone that have been weighing on investor sentiment. In the latest session, the Dow Jones industrial average gained 97 points, or 0.76 percent, to 12,720. The Standard & Poor's 500 Index inched up just 1 point, or 0.07 percent, to 1,315. But the Nasdaq Composite Index dipped 2 points, or 0.06 percent, to close at 2,787.
HSI closes above 20,000
Hong Kong shares jumped following strong bond sales in France and Spain as well as upbeat US jobs figures. The Hang Seng Index added 167 points to 20,110 on turnover of HK$ 65.96 billion. The market last closed above 20,000 points in early November. The Shanghai Composite Index was up 23 points to 2,319.