June, 2016

• 5 June

  China demand to drive 15 year-long Bauxite boom, says Rio Tinto

  

    Bloomberg China’s quest for raw materials for its aluminum smelters and alumina refineries promises to deliver a 15-year boom for exporters of bauxite, according to Rio Tinto Group, which is spending $1.9 billion to raise output. Global demand is already growing rapidly and will outpace the 4 percent-a-year lift London-based Rio forecasts for aluminum in the medium-to-longer term, Alf ...

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• 5 June

  Artisan chocolates from Vietnam fetch $72 a pound in Japan

  

    Bloomberg Naoko Otsuka didn’t think twice about paying the equivalent of $23 for 5 ounces of chocolate. The dark-brown slivers of sweetness weren’t just a treat, the Japanese homemaker said, but an opportunity to learn more about a superfood. The six bars Otsuka bought from a store in Tokyo’s bustling Shibuya shopping district were made by an artisan manufacturer ...

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• 5 June

  USA, China are making great progress in currency talks

  

    Bloomberg The U.S. and China have made progress on their exchange-rate debate over the years while the Asian nation’s ability to control excess capacity will be central for expanding its economy, Treasury Secretary Jacob J. Lew said on Sunday in Beijing. Lew, speaking to students at Tsinghua University, said China’s government is moving in the right direction on its ...

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• 5 June

  Dollar peg here to stay as devaluation bets climb: UAE

  

    Bloomberg The United Arab Emirates’ currency peg is here to stay, the central bank governor said, after contracts used to bet on a devaluation rose to the highest since March. Policy makers don’t see pressure on the dirham and the U.A.E. is committed to its longstanding peg to the dollar, HE Mubarak Rashed Al Mansoori told reporters in Abu ...

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• 5 June

  New Philippines Finance Chief to bat for growth

  

    Bloomberg Carlos Dominguez, who is set to become finance secretary in the Philippines, said the incoming government of President-elect Rodrigo Duterte is willing to initially lose revenue through income-tax cuts to help boost economic growth and reduce poverty. Lower income levies will be part of a tax reform bill submitted to lawmakers by September, Dominguez, 70, said in an ...

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• 5 June

  ECB propelled Euro area recovery: Bank of Spain

  

    Bloomberg The European Central Bank’s ultra-loose monetary policy has helped boost growth and inflation in the euro area, according to research by the Bank of Spain assessing the impact of quantitative easing in the 19-nation bloc. The ECB’s actions would have added about 1.4 percentage points to the bloc’s total output and lifted prices by about 1.2 points respectively ...

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• 5 June

  Central banks downbeat on German, French growth

  

    Paris / AFP The German and French central banks issued downbeat growth forecasts, as the EU Commission came under pressure to bring Paris in line over excessive deficits. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year, slowing to 1.4 percent in 2017. This was a downgrade of previous forecasts of 1.8 percent and ...

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• 5 June

  Political tax avoidance chokes off infra investment

  

    Bloomberg Every state or municipal government will eventually face the question of whether to raise taxes. Since the era of George H.W. Bush, officials answer increasingly “No.” “It’s politically hard to make a case for tax increases, and particularly at a time when people have less money in their pockets,” said Lucy Dadayan, a senior policy analyst with the ...

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• 5 June

  Rent hikes finally slowing for the rich

  

    Bloomberg When shares of apartment owners fell this week on disappointing revenue projections in New York and San Francisco, it was bad news for the property companies and good news for renters. Well, some renters. Between April 2015 and April 2016, the pace of rent increases slowed in at least 90 percent of luxury ZIP codes in Atlanta, Los ...

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• 5 June

  Habitat for Humanity marks summer with home dedications

  TNS Habitat for Humanity of Owensboro-Daviess County is ramping up construction this summer and dedicating several houses to deserving families. RE/MAX Professional Realty Group in Owensboro is participating in its first ever build this year. Manager Michelle Wiesman said the company is excited to be a part of changing families’ lives in the greater Owensboro region. Realtors with RE/MAX fundraise ...

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