Archive for the 'Business News' Category

Japan Economic Situation After the Earthquake

Published on March 19, 2011 in Business News. 0 Comments Tags: , .

Japan failure to tackle the spread of radioactive substances from nuclear explosions and shocks that occur in the risky stock market threatens the Japan economy.

The worsening outlook for the Japan performance shared by some analysts. Yesterday, Bank of America-Merrill Lynch cut its forecast return of Gross Domestic Product (GDP) of Japan which has been eroded in the last quarter. It seems that similar steps would be taken by JPMorgan Chase & Co.

“The damage caused by the earthquake is larger than we predicted. If the stock market continues to move volatile and firm sagging production levels, then those conditions will bring the Japanese economy is in an alarming level,” said Masaaki Kanno, chief Japan economist at JPMorgan in Tokyo. Continue reading ‘Japan Economic Situation After the Earthquake’

Oil Prices Continue to Decline (Japan Nuclear Crisis Impact)

Published on March 18, 2011 in Business News. 0 Comments Tags: , , .

Brent oil price fell almost six dollars, due to rising concerns about Japan’s potential nuclear disaster. Brent North Sea crude oil for April delivery dropped 5.79 dollars to $ 107.88 per barrel in afternoon trading in London. Prices later pulled back to $ 110.87 but that was still down $ 2.80 compared to the closing Monday.

New York’s main contract, light sweet crude for April delivery fell $ 2.11 to $ 99.08. “There are so many uncertainties in today’s market,”said Sucden analyst, Myrto Sokou.

“The oil market in a downtrend, following big losses on global equity markets and the collapse of 10 percent in the Nikkei, amid fears of potential nuclear disaster in Japan.” Continue reading ‘Oil Prices Continue to Decline (Japan Nuclear Crisis Impact)’

Gold Prices Continue to Decline (Japan Disaster Impact)

Published on March 18, 2011 in Business News. 0 Comments Tags: , , , .

Gold prices fell by more than two percent, but far from their lows because of rising concerns about Japan’s nuclear crisis hit global financial markets, pushing the flight into liquid assets like cash.

Platinum group metals also fell sharply because of the potential radiation disasters weaken expectations of demand from the Japanese automotive industry is very strong. “We have a risk of trade as a result of problems in Japan. There is a liquidation of institutions and other global liquidation because people choose to get cash now,” said James Steel, chief commodities analyst at HSBC bank. Spot gold had slipped to $ 1,380.90 per troy ounce before retreating to $ 1,396.75 troy ounces (1 troy ounce = 31.1 grams) at 12:25 PM (16:25 GMT). U.S. gold futures for April delivery lost two percent to $ 1,396.50. Continue reading ‘Gold Prices Continue to Decline (Japan Disaster Impact)’