(Reuters) - South Africa's Competition Commission on Monday withdrew its recommendation to the Competition Tribunal to impose a penalty on Mittal Steel SA after it was found to have over-charged Barnes Fencing.
Mittal Steel SA objected to the administrative penalty sought by the Commission, citing that such a penalty can only be imposed if the respondents have been repeating the conduct.
Read more at Reuters Africa
Monday, May 14, 2007
China's April Oil Imports Rise to Record as Economic Growth Spurs Demand
(Bloomberg) -- China's crude oil imports rose 23 percent to a record in April as output from domestic fields failed to keep pace with consumption in the world's fastest- growing major economy.
Imports climbed to 14.82 million metric tons (about 3.6 million barrels a day) last month, according to figures released by the Beijing-based Customs General Administration of China on its Web site today. China imported 54.46 million tons of crude from January to April, 10.8 percent more than a year earlier, customs said.
Read more at Bloomberg Energy News
Imports climbed to 14.82 million metric tons (about 3.6 million barrels a day) last month, according to figures released by the Beijing-based Customs General Administration of China on its Web site today. China imported 54.46 million tons of crude from January to April, 10.8 percent more than a year earlier, customs said.
Read more at Bloomberg Energy News
Slovakian Economy Probably Grew at Record Pace in First Quarter on Export
(Bloomberg) -- Slovakia's economy probably grew in the first quarter at the fastest pace since the country was established, led by exports of cars by PSA Peugeot Citroen and Kia Motors Corp., a survey of economists shows.
Gross domestic product rose an annual 10.6 percent, the most since Czechoslovakia split into two nations in 1993, compared with 9.6 percent expansion in the previous quarter, according to the median estimate of 10 economists surveyed by Bloomberg. The Slovak Statistical Office will release the report at 9 a.m. today.
Read more at Bloomberg Emerging Markets News
Gross domestic product rose an annual 10.6 percent, the most since Czechoslovakia split into two nations in 1993, compared with 9.6 percent expansion in the previous quarter, according to the median estimate of 10 economists surveyed by Bloomberg. The Slovak Statistical Office will release the report at 9 a.m. today.
Read more at Bloomberg Emerging Markets News
Korea's Won Trades Near Highest in Four Month; Government Bonds Decline
(Bloomberg) -- South Korea's won stayed near its strongest since December on speculation overseas investors will keep buying the nation's equities. Government bonds fell.
The won traded within 0.2 percent of its highest since Dec. 18, reached on May 7, as the benchmark stock index yesterday closed at a record high on optimism economic growth will accelerate. Investors based abroad became net buyers of Korean shares this year after being net sellers in 2006, according to stock exchange data.
Read more at Bloomberg Bonds News
The won traded within 0.2 percent of its highest since Dec. 18, reached on May 7, as the benchmark stock index yesterday closed at a record high on optimism economic growth will accelerate. Investors based abroad became net buyers of Korean shares this year after being net sellers in 2006, according to stock exchange data.
Read more at Bloomberg Bonds News
Bernanke's Warning Spurs Record Bets on Decline in Two-Year Treasury Notes
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's inflation concerns have prompted investors to make a record bet against $88.8 billion of two-year Treasuries.
That's the amount of futures contracts on notes traders have sold at the Chicago Board of Trade, the most since the Commodity Futures and Trading Commission began keeping track of the data in 1993. It exceeds wagers to profit from rising prices by $51.8 billion, the largest so-called net short position ever, according to CFTC data released May 11.
Read more at Bloomberg Bonds News
That's the amount of futures contracts on notes traders have sold at the Chicago Board of Trade, the most since the Commodity Futures and Trading Commission began keeping track of the data in 1993. It exceeds wagers to profit from rising prices by $51.8 billion, the largest so-called net short position ever, according to CFTC data released May 11.
Read more at Bloomberg Bonds News
Agilent Advances on Forecast; STEC Retreats on Profit: U.S. After Hours
(Bloomberg) -- Agilent Technologies Inc. climbed in extended U.S. trading after the world's biggest maker of scientific-testing equipment forecast third-quarter profit that topped analysts' estimates.
Shares of the Santa Clara, California-based company gained $1.69, or 4.7 percent, to $37.91 as of 5:34 p.m. in New York. Agilent said fiscal third-quarter profit excluding some items may be 46 cents to 50 cents a share. That's more than the 45-cent average analyst estimate compiled by Bloomberg. The company said second-quarter earnings rose 7 percent after demand increased for bio-analytical instruments.
Read more at Bloomberg Stocks News
Shares of the Santa Clara, California-based company gained $1.69, or 4.7 percent, to $37.91 as of 5:34 p.m. in New York. Agilent said fiscal third-quarter profit excluding some items may be 46 cents to 50 cents a share. That's more than the 45-cent average analyst estimate compiled by Bloomberg. The company said second-quarter earnings rose 7 percent after demand increased for bio-analytical instruments.
Read more at Bloomberg Stocks News
Crooks, Astute Shareholders Alike Find Options Market Proving Prescient
(Bloomberg) -- Illegal or not, trading in options may be the most prescient news you can use.
The number of options to buy shares of Valero Energy Corp. and American Express Co. doubled in the week before the companies reported better-than-estimated earnings. Trading in contracts tied to TXU Corp. and Dow Jones & Co. climbed at least sevenfold a day ahead of takeover announcements that pushed the stocks up as much as 55 percent and prompted a manhunt for the leakers.
Read more at Bloomberg Exclusive News
The number of options to buy shares of Valero Energy Corp. and American Express Co. doubled in the week before the companies reported better-than-estimated earnings. Trading in contracts tied to TXU Corp. and Dow Jones & Co. climbed at least sevenfold a day ahead of takeover announcements that pushed the stocks up as much as 55 percent and prompted a manhunt for the leakers.
Read more at Bloomberg Exclusive News
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