London (AFP) - European stock markets closed lower Wednesday, mirroring losses across Asia after China further devalued its currency and reported more poor economic data.Shares in mining companies, carmakers and luxury goods groups, which rely heavily on Chinese demand, fell sharply for a second day.
The road, as they say, was paved with good intentions: In an effort to improve the country’s woeful infrastructure, long seen as a drag on Asia’s third-largest economy, India Inc. has pumped billions of dollars into new power plants, roads, rail lines and airports over the past decade. The investment was largely financed with foreign-denominated debt, a choice that seemed reasonable enough as recently as 2010, when the Indian economy expanded by 9.3 percent in real terms and the rupee remained relatively strong.
TOKYO: Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Taking a lead from Wall Street's slide, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent with Australian and South Korean shares suffering losses. Tokyo's Nikkei shed 0.3 per cent.
REUTERSIn a few days, the citizens of Great Britain will vote on whether the country will leave the European Union. The possibility is keeping markets – and investors – awake at night because it offers a lot of what they hate: Uncertainty.
Last year we predicted that the world had reached peak centralization and that going forward things would begin to fracture. What is centralization? Centralization is the process by which the world grows increasingly centralized, relying on Centralized organizations (Central Banks, sovereign governments, etc.) to determine the direction of capital and focus.
Yesterday we covered the supply side of the gold market from the perspective of global mints, which were kind enough to advise that they "can’t meet the demand, even if we work overtime." Today, courtesy of Bloomberg, we take a closer look at the demand aspect of the physical gold market, which as most know by now can be descri
As the European sovereign debt crisis enters its fourth year, there are growing concerns that Spain, the fourth-largest economy in the euro area, could collapse under the weight of its debt and trigger a break-up of the euro zone.