by | Oct 14, 2010 | Towing
Mining company Rio Tinto (RIO) produced record quantities of iron ore in the third quarter on rampant demand from China.
The company produced a whopped a 47.6 million tons of iron ore in the three months to September, BBC News said.
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China is importing huge amounts of iron ore to make steel for its fast-growing economy. China, now the world’s second-largest quarter, grew at an annual…
Continue reading Rio Tinto Produced Record Amount of Iron Ore on China Demand
Rio Tinto Produced Record Amount of Iron Ore on China Demand originally appeared on DailyFinance on Thu, 14 Oct 2010 08:51:00.
Filed Under: Company News, Economy
by | Oct 13, 2010 | Towing
World demand for oil will increase in the final months of 2010, but will be lower than expected in 2011, The International Energy Agency said.
The IEA cut its forecast for 2011 demand to 1.21 million barrels per day, from 1.27 million bpd, Reuters reported. The agency also increased its estimate for 2010 by 260,00 bpd, citing factors such as heating oil restocking.
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“The market…
Continue reading World Oil Demand Will Be Lower Than Expected in 2011
World Oil Demand Will Be Lower Than Expected in 2011 originally appeared on DailyFinance on Wed, 13 Oct 2010 08:30:00.
Filed Under: Energy, Economy, Green
by | Oct 12, 2010 | Towing
The minutes of the FOMC’s September meeting show more quantitative easing may be needed “before long,” but the bankers delayed any moves while waiting for more data.
Continue reading An Anxious Fed Decided to G…
by | Oct 12, 2010 | Towing
China ordered state-owned banks to limit lending as it moves to control inflation and prevent a credit bubble.
The Chinese government told the six largest state-owned banks to increase their reserves to 17.5% of deposits from 17%, The Associated Pres…
by | Oct 6, 2010 | Towing
The International Monetary Fund cut its forecast for world economic growth, saying that the economic recovery will slow as governments cut their budgets.
The IMF cut its outlook for the U.S. economy to 2.2% growth in 2011, from a previous estimate of…
