Friday, May 16, 2008

world news

Fed, BOE Foreshadow End of Rate Cuts as Prices Rise
Goldman Raises Second-Half WTI Oil Forecast to $141
Buffett's Berkshire Boosts Investments in Kraft, Wells Fargo
UN: World economy on brink of severe downturn; will only grow by 1.8 percent this year

The dollar snapped three days of gains against the euro before reports that may show U.S. housing starts fell to a 17-year low and consumer confidence slumped to the weakest in 26 years

Anhui Conch Cement Co., China's biggest producer, will start building factories sooner than expected in Sichuan province to aid reconstruction efforts after the nation's most powerful earthquake in 58 years.

Trico Marine Services, Inc., a Houston-based oilfield service provider, agreed to buy Norwegian oil service and subsea company DeepOcean ASA for 3.5 billion kroner ($681 million).

European Central Bank council member Yves Mersch said the current level of interest rates will help curb inflation

The world's most powerful central banks are telegraphing the end of interest-rate cuts, and traders already anticipate the first steps in the opposite direction

India's inflation rate unexpectedly rose to the highest in 3 1/2 years, adding pressure on the central bank to raise borrowing costs further to tame prices.

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