US indexes soar as rate hikes near end
WALL STREET:
Investors shrugged off memories of last year's lackluster performance this week, boosting the major US indicators to four-and-a-half-year highs
Wall Street got off to a strong start in the first week of this year as investors set their sights on a shift by the Federal Reserve away from its policy of steady interest-rate hikes.
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European indicators end week in fine form
European stock markets ended the week in fine form on Friday, with the London and Paris exchanges jumping to four-year highs on Wall Street gains and corporate news.
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Speculators, hedge funds turning back to oil, analysts say
Crude oil futures rallied more than US$1 a barrel on Friday and the price of natural gas regained some ground after sinking a day earlier to its lowest level in four-and-a-half months.
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Asian investors pause for breath as gains continue
TAKING PROFITS:
In Taipei, profit-taking wiped out early gains and the NT dollar weakened as foreign investors took some cash off the table after the recent upswing
Asian stocks closed mixed on Friday as investors paused for breath after another week of record finishes and multi-year highs brought in the new year, dealers said.
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US dollar tumbles in wake of weak job-growth report
The US dollar slumped on Friday after a disappointing report on US job growth reinforced speculation about a halt in the cycle of US rate hikes, and comments suggesting China may shift holdings away from the greenback.
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Ukraine's former prime minister attacks gas pact
SECRET DEAL:
Orange Revolution icon Yulia Tymoshenko vowed to scuttle the deal with Russia because it transfers control of gas imports to what she called a `front company'
Former Ukrainian prime minister Yulia Tymoshenko, who was a driving force behind last winter's Orange Revolution, is emerging as a leading critic of the intricate commercial deal that ended the gas dispute between Ukraine and Russia.
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US$7.93bn makes Taiwan Vietnam's biggest investor
Taiwanese manufacturers implemented 1,408 investment projects in Vietnam totaling US$7.93 billion in value as of the end of last month, making Taiwan the largest foreign investor in the Southeast Asian country, according to statistics released by the Vietnamese Department of Planning and Investment (DPI).
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Save taxes, slow benefits, Bush tells Congress
US BUDGET:
The US president disregarded the big setback to consumer confidence this month and urged restraints on programs such as Medicaid, Medicare and student loans
Boasting that the US economy is strong and growing, US President George W. Bush urged Congress yesterday to save tax cuts from expiring and adopt the first spending restraints in nearly a decade on such benefit programs as Medicaid, Medicare and student loans.
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Judge backs downloads as settlement in CD lawsuits
A US judge on Friday tentatively approved a proposed settlement of lawsuits against Sony BMG Music Entertainment that would give millions of consumers free music downloads to compensate them for flawed software on CDs.
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Coffee crisis brews in Venezuela over state's price limits
Venezuelan President Hugo Chavez threatened on Friday to nationalize the country's coffee producers -- who process the raw beans to make them ready to brew -- if they refuse to sell their product at government-controlled prices.
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China allows Canadian banks to increase outlets
Two of Canada's most international financial institutions have received regulatory approval to add branches in China, as the country opens its financial-services market to foreign competitors.
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Business Briefs
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TAITRA campaigns in Vegas
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