(Reuters) - Buffett said insurance and investment group Berkshire, which he heads, was not as active in the currency markets as it once was.
"Today, we're only actively buying one currency. You'll find out in one year which one it was," he said.
Read more at Reuters.com Mergers News
Tuesday, 08 May 2007
BNP Paribas CEO says not interested in ABN AMRO
(Reuters) - Some analysts have speculated that BNP Paribas could be interested in ABN AMRO's U.S. bank LaSalle since BNP Paribas has a U.S. retail banking arm of its own.
Prot also said BNP Paribas was not interested in ABN AMRO's Italian assets.
Read more at Reuters.com Mergers News
Prot also said BNP Paribas was not interested in ABN AMRO's Italian assets.
Read more at Reuters.com Mergers News
GLOBAL MARKETS-Blue chip stocks end flat, dollar rises vs euro
(Reuters) - NEW YORK, May 8 - U.S. blue chip stocks ended flat on Tuesday, clawing back earlier losses as investors bought on dips a day ahead of the Federal Reserve's policy meeting, while the dollar rose against the euro in technically driven trade.
Uncertainty over how the Fed will describe an environment of slowing inflation and weakening economic growth in the statement accompanying its decision on interest rates on Wednesday pushed government bond investors to the sidelines.
Read more at Reuters.com Bonds News
Uncertainty over how the Fed will describe an environment of slowing inflation and weakening economic growth in the statement accompanying its decision on interest rates on Wednesday pushed government bond investors to the sidelines.
Read more at Reuters.com Bonds News
Euro May Extend Loss Versus Dollar as Fed Expected to Keep Rates Steady
(Bloomberg) -- The euro may extend its decline from near an all-time high against the dollar on bets the Federal Reserve will maintain its outlook for moderate inflation and growth, reducing the likelihood of rate cuts this year.
The European currency fell against 12 out of 16 of the most active currencies yesterday as investors reduced their risks before two consecutive days of central bank announcements. Traders expect the Fed to hold its key rate steady today, while European Central Bank President Jean-Claude Trichet may signal tomorrow that a June boost in borrowing costs is likely.
Read more at Bloomberg Currencies News
The European currency fell against 12 out of 16 of the most active currencies yesterday as investors reduced their risks before two consecutive days of central bank announcements. Traders expect the Fed to hold its key rate steady today, while European Central Bank President Jean-Claude Trichet may signal tomorrow that a June boost in borrowing costs is likely.
Read more at Bloomberg Currencies News
Douglas Emmett posts Q1 FFO of $0.28/shr
(Reuters) - Analysts on average were expecting first-quarter funds from operations of 27 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
S&P cuts Rite Aid's debt deeper into junk
(Reuters) - "The ratings reflect the challenges Harrisburg, Pa.-based Rite Aid Corp. faces in integrating the 1,800 acquired stores while continuing to improve the operations at its drugstores amid intense competition," S&P said in a statement.
"They also reflect the company's significant debt burden and thin cash flow protection," S&P said.
Read more at Reuters.com Bonds News
"They also reflect the company's significant debt burden and thin cash flow protection," S&P said.
Read more at Reuters.com Bonds News
UPDATE 1-Cal ISO issues maintenance restrictions for Tuesday
(Reuters) - Hot weather over much of the state has increased demand for electricity, which hit a high for this year of 36,300 megawatts on Monday and is forecast to rise to 38,215 MW on Tuesday.
The Tuesday forecast figure is 5 percent higher than was issued on Tuesday morning.
Read more at Reuters.com Bonds News
The Tuesday forecast figure is 5 percent higher than was issued on Tuesday morning.
Read more at Reuters.com Bonds News
UPDATE 1-JANA asks Alcoa to call off Alcan bid, ponder sale
(Reuters) - "Given Alcoa's long history of failing to generate shareholder value through acquisition, we believe that its greatest value can be realized through a sale or break-up of the company," JANA managing partner Barry Rosenstein said in a letter to Alcoa Chairman and Chief Executive Alain Belda.
On Tuesday, aluminum producer Alcoa launched a hostile bid for Alcan worth nearly $27 billion after talks between the two aluminum producers failed to lead to a deal.
Read more at Reuters.com Mergers News
On Tuesday, aluminum producer Alcoa launched a hostile bid for Alcan worth nearly $27 billion after talks between the two aluminum producers failed to lead to a deal.
Read more at Reuters.com Mergers News
Wheat Falls to Three-Week Low After Winter Crop Conditions Improve in U.S.
(Bloomberg) -- Wheat prices fell to their lowest close in more than three weeks in Chicago and Kansas City after conditions of the U.S. winter crop improved for a second- consecutive week.
About 57 percent of the crop was in good or excellent condition on May 6, up a point from a week earlier, the Department of Agriculture said yesterday. Cool, wet weather helped plants hurt by a freeze on April 7. The price in Chicago has dropped 4 percent this year.
Read more at Bloomberg Commodities News
About 57 percent of the crop was in good or excellent condition on May 6, up a point from a week earlier, the Department of Agriculture said yesterday. Cool, wet weather helped plants hurt by a freeze on April 7. The price in Chicago has dropped 4 percent this year.
Read more at Bloomberg Commodities News
St. Jude gets US and European nod for cardiac diagnostic tools
(Reuters) - The new products help create more detailed images of the heart for navigating during electrophysiology procedures that treat complex arrhythmias, the medical device maker said.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Henry Schein shares slip despite profit
(Reuters) - Wall Street analysts on average had forecast 48 cents a share, according to Reuters Estimates.
The company forecast 2007 earnings in a range of $2.51 to $2.57 per share. Analysts expected $2.54 per share for 2007, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
The company forecast 2007 earnings in a range of $2.51 to $2.57 per share. Analysts expected $2.54 per share for 2007, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Copper, Little Changed in New York, May Fall on Increase in Peru Supplies
(Bloomberg) -- Copper prices, little changed in New York, may fall for a second day after Peru's production reached a 27-month high and the nation's miners returned to work.
Copper output in Peru, the world's third-largest producer, rose 5.1 percent to 100,609 tons in March, the government said. Peru's miners ended a five-day walkout on May 4. Supply concerns spurred a 6.4 percent gain in copper futures last week.
Read more at Bloomberg Commodities News
Copper output in Peru, the world's third-largest producer, rose 5.1 percent to 100,609 tons in March, the government said. Peru's miners ended a five-day walkout on May 4. Supply concerns spurred a 6.4 percent gain in copper futures last week.
Read more at Bloomberg Commodities News
UPDATE 1-ISM sees '07 growth in US factory, service sectors
(Reuters) - Manufacturing revenue is seen growing 5.6 percent in 2007 while capital spending in the manufacturing sector was expected to rise 5.8 percent, said the Institute for Supply Management.
Capacity utilization in manufacturing was estimated at 82.8 percent, the ISM's Business Survey Committee forecast said.
Read more at Reuters.com Bonds News
Capacity utilization in manufacturing was estimated at 82.8 percent, the ISM's Business Survey Committee forecast said.
Read more at Reuters.com Bonds News
UPDATE 2-Mexico's Pemex debt flat, taxes lower
(Reuters) - Net debt, or the difference between total debt and cash equivalents, also decreased to $36.2 billion, Pemex said.
Pemex, the world's most indebted oil company, has leaned heavily on bond markets for years to fund exploration as the bulk of its sales were lost in taxes.
Read more at Reuters.com Market News
Pemex, the world's most indebted oil company, has leaned heavily on bond markets for years to fund exploration as the bulk of its sales were lost in taxes.
Read more at Reuters.com Market News
U.S. Treasuries Are Little Changed Before Auction of 10-Year Securities
(Bloomberg) -- Treasuries were little changed before an auction today of 10-year securities amid speculation the Federal Reserve may emphasize slowing economic growth at its meeting tomorrow.
The return of Japanese and European traders from holidays, and investors' need to reinvest coupon payments and cash from maturing notes, might lead to increased demand as declining wage growth may indicate inflation is slowing.
Read more at Bloomberg Bonds News
The return of Japanese and European traders from holidays, and investors' need to reinvest coupon payments and cash from maturing notes, might lead to increased demand as declining wage growth may indicate inflation is slowing.
Read more at Bloomberg Bonds News
Venezuelan Dollar Bonds Advance as Concerns About Withdrawal From IMF Ease
(Bloomberg) -- Venezuela's dollar bonds rose the most in more than a week as concern eased that the South American country may trigger a default by pulling out of the International Monetary Fund.
President Hugo Chavez threatened last week to cancel the country's membership in the IMF and the World Bank because they limited Venezuela's ``economic sovereignty.'' The prospectus for the country's bonds states that ``Venezuela ceasing to be a member of the IMF is an event of default.'' Finance Minister Rodrigo Cabezas said last week that Venezuela wouldn't default.
Read more at Bloomberg Bonds News
President Hugo Chavez threatened last week to cancel the country's membership in the IMF and the World Bank because they limited Venezuela's ``economic sovereignty.'' The prospectus for the country's bonds states that ``Venezuela ceasing to be a member of the IMF is an event of default.'' Finance Minister Rodrigo Cabezas said last week that Venezuela wouldn't default.
Read more at Bloomberg Bonds News
UPDATE 1-Beacon Roofing Supply posts Q2 loss on lower sales
(Reuters) - Severe winter conditions, a flattening of inflation and slowdown in activity in the markets that experienced damages from Hurricanes Katrina and Rita, also hurt the quarter.
The company said it recorded a loss of $6.3 million, or 14 cents a share, compared with a profit of $4.8 million, or 11 cents, a year earlier. Net sales fell to $286.9 million.
Read more at Reuters.com Market News
The company said it recorded a loss of $6.3 million, or 14 cents a share, compared with a profit of $4.8 million, or 11 cents, a year earlier. Net sales fell to $286.9 million.
Read more at Reuters.com Market News
AmBev, Asur, Cemex, Penoles, Sadia, Vale do Rio Doce: Latin Equity Movers
(Bloomberg) -- Mexico's main stock index fell for a second day, led by mobile-phone company America Movil SAB and cement-maker Cemex SAB.
The Bolsa index fell 355.24, or 1.2 percent, to 29,421.33 at 10:53 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 594.86, or 1.2 percent, to 49,686.87.
Read more at Bloomberg Stocks News
The Bolsa index fell 355.24, or 1.2 percent, to 29,421.33 at 10:53 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 594.86, or 1.2 percent, to 49,686.87.
Read more at Bloomberg Stocks News
Florida East Coast to be acquired by Fortress for $3.5 bln
(Reuters) - The transport and property company expects the deal to be completed during the third quarter of 2007.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Expedia shares tumble after earnings miss forecast
(Reuters) - Excluding one-time items, Expedia earned 18 cents per share. On that basis, analysts' average forecast was 20 cents per share, according to Reuters Estimates.
Shares, which rose 10.5 percent in the first quarter, were down 6.69 percent at $23.15 on Nasdaq in early trade.
Read more at Reuters.com Business News
Shares, which rose 10.5 percent in the first quarter, were down 6.69 percent at $23.15 on Nasdaq in early trade.
Read more at Reuters.com Business News
Church & Dwight, Cutera, DJO, Expedia, McDermott: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 10:10 a.m. New York time.
AK Steel Corp. (AKS US) rose $4.68, or 15 percent, to $36.74 and traded as high as $37.70. The Financial Times reported that Arcelor Mittal may offer about $4.5 billion for AK Steel, the third-largest U.S.-based steelmaker. Arcelor Mittal may bid as much as $40 per share, the FT's Alphaville Web site reported today without saying where it got the information. Luc Scheer, a spokesman for Arcelor Mittal, declined to comment.
Read more at Bloomberg Stocks News
AK Steel Corp. (AKS US) rose $4.68, or 15 percent, to $36.74 and traded as high as $37.70. The Financial Times reported that Arcelor Mittal may offer about $4.5 billion for AK Steel, the third-largest U.S.-based steelmaker. Arcelor Mittal may bid as much as $40 per share, the FT's Alphaville Web site reported today without saying where it got the information. Luc Scheer, a spokesman for Arcelor Mittal, declined to comment.
Read more at Bloomberg Stocks News
UPDATE 2-Revlon quarterly loss narrows; sales up slightly
(Reuters) - The net loss in the quarter that ended March 31, was $35.2 million, or 7 cents a share, compared with a loss of $58.2 million, or 15 cents, a year earlier.
Analysts, on average, had also expected a loss of 7 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, had also expected a loss of 7 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Sciele Pharma to offer $250 mln of senior notes
(Reuters) - The company, in a filing with the U.S. Securities and Exchange Commission, said it intends to use about $150 million of the net proceeds to redeem its 2006 notes.
The remainder of the proceeds will be used for future acquisitions or licenses of products and technologies and for capital expenditures and general corporate purposes.
Read more at Reuters.com Government Filings News
The remainder of the proceeds will be used for future acquisitions or licenses of products and technologies and for capital expenditures and general corporate purposes.
Read more at Reuters.com Government Filings News
UPDATE 2-Mittal eyeing AK Steel deal -- FT Web site
(Reuters) - Shares of Ohio-based AK Steel rose to $39 before the closing bell in New York from a close at $32.06 on Monday.
FT Alphaville, which did not cite its sources or say how many people confirmed the report, said a deal could value AK at up to $40 per share, or just under $4.5 billion.
Read more at Reuters.com Bonds News
FT Alphaville, which did not cite its sources or say how many people confirmed the report, said a deal could value AK at up to $40 per share, or just under $4.5 billion.
Read more at Reuters.com Bonds News
UPDATE 1-Church & Dwight profit, marketing spending rise
(Reuters) - But the company also forecast second-quarter and full-year earnings below Wall Street's expectations as it plans to spend more on marketing to promote new and acquired products.
First-quarter profit was $45.1 million, or 66 cents per share, compared with $39.9 million, or 60 cents per share, a year earlier.
Read more at Reuters.com Market News
First-quarter profit was $45.1 million, or 66 cents per share, compared with $39.9 million, or 60 cents per share, a year earlier.
Read more at Reuters.com Market News
CVS/Caremark to move to quarterly sales reports
(Reuters) - During a conference call, an investor relations executive said that CVS would stick with monthly same-store sales reports for the rest of 2007. Starting in 2008, the company will only issue quarterly same-store sales results along with its earnings.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 2-Tyco quarterly profit down on charges
(Reuters) - Net earnings fell 6.7 percent to $835 million, or 41 cents a share, in Tyco's fiscal second quarter, from $895 million, or 43 cents, a year earlier.
Excluding discontinued operations and charges for Tyco's restructuring, earnings from continuing operations were 49 cents cents per share, beating analysts' average forecast by 2 cents, according to Reuters Estimates.
Read more at Reuters.com Market News
Excluding discontinued operations and charges for Tyco's restructuring, earnings from continuing operations were 49 cents cents per share, beating analysts' average forecast by 2 cents, according to Reuters Estimates.
Read more at Reuters.com Market News
Forbes Medi-Tech says extends supply agreement with Pharmavite
(Reuters) - Reducol is the branded cholesterol lowering ingredient in one of Pharmavite's leading line of dietary supplements, Forbes Medi-Tech said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Gold Drops as Dollar's Gain May Erode Investor Demand; Silver Also Deline
(Bloomberg) -- Gold fell for a second consecutive day on speculation a rebound in the dollar against the euro will erode investor demand for precious metals as an alternative investment. Silver also declined.
Bullion has moved in the opposite direction to the dollar 78 percent of the time this year. The dollar gained today for the first time in three days. The Federal Reserve meets tomorrow to discuss interest rates.
Read more at Bloomberg Commodities News
Bullion has moved in the opposite direction to the dollar 78 percent of the time this year. The dollar gained today for the first time in three days. The Federal Reserve meets tomorrow to discuss interest rates.
Read more at Bloomberg Commodities News
U.S. Stock-Index Futures Retreat on Earnings; Tyco, Fluor Shares Decline
(Bloomberg) -- U.S. stock-index futures fell after earnings reports from Tyco International Ltd. and Fluor Corp. raised concern profit growth won't be fast enough to sustain the stock market's five-week rally.
Tyco, the world's biggest maker of electronic connectors and security systems, dropped after reporting a second-quarter profit decline. Shares of Fluor retreated after the largest publicly traded U.S. engineering and construction company forecast annual earnings that trailed analysts' estimates.
Read more at Bloomberg Stocks News
Tyco, the world's biggest maker of electronic connectors and security systems, dropped after reporting a second-quarter profit decline. Shares of Fluor retreated after the largest publicly traded U.S. engineering and construction company forecast annual earnings that trailed analysts' estimates.
Read more at Bloomberg Stocks News
Beacon Roofing Supply posts quarterly loss
(Reuters) - For the latest second quarter, analysts were expecting the company to post a loss of 13 cents a share, excluding any items, on revenue of $294 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UBS Postpones Start of U.K. Power Trading on Delays to System Development
(Bloomberg) -- UBS AG, the world's biggest money manager, is postponing its entry into the U.K. power market because the development of its electronic trading systems is taking longer than planned.
UBS had intended to start buying and selling electricity contracts in the U.K. by May 10 through its UBS AG London Branch unit, it said in a letter posted on the Web site of Elexon Ltd., the manager of the U.K.'s power-trading arrangements. UBS said it now expects to be able to start trading in July.
Read more at Bloomberg Energy News
UBS had intended to start buying and selling electricity contracts in the U.K. by May 10 through its UBS AG London Branch unit, it said in a letter posted on the Web site of Elexon Ltd., the manager of the U.K.'s power-trading arrangements. UBS said it now expects to be able to start trading in July.
Read more at Bloomberg Energy News
White Sugar Declines in London After India Reports Increase in Production
(Bloomberg) -- White sugar futures declined in London, snapping three days of gains prior to the May 7 public holiday in the U.K., after India reported higher production.
India, the world's second-biggest producer of the sweetener, crushed 39 percent more sugar cane in the seven months ended April due to a record harvest, said Vinay Kumar, managing director of the National Federation of Cooperative Sugar Factories Ltd.
Read more at Bloomberg Commodities News
India, the world's second-biggest producer of the sweetener, crushed 39 percent more sugar cane in the seven months ended April due to a record harvest, said Vinay Kumar, managing director of the National Federation of Cooperative Sugar Factories Ltd.
Read more at Bloomberg Commodities News
UPDATE 1-Henry Schein quarterly profit rises
(Reuters) - The Melville, New York-based company, which also supplies vaccines and veterinary products, said first-quarter net income was $43.5 million, or 48 cents a share, compared with $16.3 million, or 18 cents a share, a year earlier.
Wall Street analysts on average had forecast 48 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Wall Street analysts on average had forecast 48 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Mittal eyeing AK Steel deal -- FT Web site
(Reuters) - FT Alphaville reported that a deal could value AK at up to $40 per share, or just under $4.5 billion.
"We don't comment on market speculation," Arcelor Mittal spokesman Jean Lasar said.
Read more at Reuters.com Bonds News
"We don't comment on market speculation," Arcelor Mittal spokesman Jean Lasar said.
Read more at Reuters.com Bonds News
Pretoria Portland First-Half Profit Gains 18 Percent on Construction Boom
(Bloomberg) -- Pretoria Portland Cement Co., Africa's biggest maker of the building material, said first-half profit rose 18 percent as South African economic growth boosted construction.
Net income climbed to 586 million rand ($85 million), or 10.89 rand a share, in the six months ended March 31 from 497 million rand, or 9.24 rand, the year earlier, Johannesburg-based Pretoria Portland said in a statement today. Sales rose 19 percent, to 2.59 billion rand.
Read more at Bloomberg Emerging Markets News
Net income climbed to 586 million rand ($85 million), or 10.89 rand a share, in the six months ended March 31 from 497 million rand, or 9.24 rand, the year earlier, Johannesburg-based Pretoria Portland said in a statement today. Sales rose 19 percent, to 2.59 billion rand.
Read more at Bloomberg Emerging Markets News
S.Africa finmin says hasn't been major rand firming
(Reuters) - South Africa's rand currency has not recorded a major strengthening and has moved due to a weakness in the U.S. dollar, Finance Minister Trevor Manuel said on Tuesday.
"In real effective relative terms there hasn't been a major strengthening of the rand to the dollar," Manuel said at the sidelines of a signing of a tax agreement with Switzerland.
Read more at Reuters Africa
"In real effective relative terms there hasn't been a major strengthening of the rand to the dollar," Manuel said at the sidelines of a signing of a tax agreement with Switzerland.
Read more at Reuters Africa
U.S. Stock-Index Futures Drop on Profit-Growth Concerns; Tyco, Cisco Fall
(Bloomberg) -- U.S. stock-index futures fell on concern earnings growth won't be enough to sustain a five-week rally.
Health-care and electronics products maker Tyco International Ltd. fell after announcing quarterly results. Cisco Systems Inc., the world's biggest maker of computer networking equipment, also dropped.
Read more at Bloomberg Stocks News
Health-care and electronics products maker Tyco International Ltd. fell after announcing quarterly results. Cisco Systems Inc., the world's biggest maker of computer networking equipment, also dropped.
Read more at Bloomberg Stocks News
EU warned to be careful on any Microsoft break-up
(Reuters) - European Competition Commissioner Neelie Kroes, frustrated by what she sees as its defiance of the law, recently raised the question of whether the U.S. software giant should be broken up.
But one of the American architects of a previous break-up bid says Europeans should proceed cautiously, if at all. So far there are no indications that could happen, and experts consider it unlikely.
Read more at Reuters.com Government Filings News
But one of the American architects of a previous break-up bid says Europeans should proceed cautiously, if at all. So far there are no indications that could happen, and experts consider it unlikely.
Read more at Reuters.com Government Filings News
FTSE ticks down on oils, banks; M&A supports
(Reuters) - Britain's top share index fell in early trading on Tuesday, slipping from its highest close in more than 6-1/2 years in the last session and tracking weaker Asian stocks ahead of key U.S. and UK interest rate decisions.
At 0737 GMT, the FTSE 100 was down 12.5 points, or 0.19 percent at 6,591.2, after rising 1 percent in the previous session. The UK market was closed for a holiday on Monday.
Read more at Reuters Africa
At 0737 GMT, the FTSE 100 was down 12.5 points, or 0.19 percent at 6,591.2, after rising 1 percent in the previous session. The UK market was closed for a holiday on Monday.
Read more at Reuters Africa
European Stocks Fall, Led by KPN, BNP Paribas; Reuters, Lloyds TSB Gain
(Bloomberg) -- European stocks fell, led by Royal KPN NV after the largest phone company in the Netherlands reported earnings that missed analysts' estimates. BNP Paribas SA and GlaxoSmithKline Plc also paced the retreat.
Reuters Plc and Lloyds TSB Group Plc gained on takeover speculation, limiting the declines.
Read more at Bloomberg Stocks News
Reuters Plc and Lloyds TSB Group Plc gained on takeover speculation, limiting the declines.
Read more at Bloomberg Stocks News
Idemitsu's Profit Rises 52 Percent as Asian Petrochemical Demand Increases
(Bloomberg) -- Idemitsu Kosan Co., Japan's second- biggest petroleum refiner, said full-year profit rose 52 percent, led by increased revenue and income from petrochemical business.
Net income surged to 41.6 billion yen ($347 million) for the year ended March 31, from 27.4 billion yen a year earlier, the company said in a statement to the Tokyo Stock Exchange. Sales rose 2 percent to 3.39 trillion yen.
Read more at Bloomberg Energy News
Net income surged to 41.6 billion yen ($347 million) for the year ended March 31, from 27.4 billion yen a year earlier, the company said in a statement to the Tokyo Stock Exchange. Sales rose 2 percent to 3.39 trillion yen.
Read more at Bloomberg Energy News
Bank Indonesia Cuts Key Interest Rate to Lift Corporate, Consumer Spending
(Bloomberg) -- Indonesia's central bank resumed cutting its policy rate, to boost corporate and consumer spending, after inflation unexpectedly slowed last month and the rupiah surged.
Bank Indonesia Governor Burhanuddin Abdullah reduced the rate used as a reference for bill sales by a quarter point to 8.75 percent, the lowest since August 2005. The move was forecast by 16 of 19 economists surveyed by Bloomberg News. The central bank said it sees further room to reduce the measure.
Read more at Bloomberg Emerging Markets News
Bank Indonesia Governor Burhanuddin Abdullah reduced the rate used as a reference for bill sales by a quarter point to 8.75 percent, the lowest since August 2005. The move was forecast by 16 of 19 economists surveyed by Bloomberg News. The central bank said it sees further room to reduce the measure.
Read more at Bloomberg Emerging Markets News
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