Tuesday, March 03, 2009

Quick Overview

  • U.S. pending home sales fell 7.7% in January, weaker than expected.

  • Canada reduced its interest rate from 1.0% to .50%

  • Fed Chairman Bernanke said policy makers may need to expand aid to the banking system beyond the $700 billion already approved.

  • (Bloomberg) -- The Federal Reserve lifted executive- compensation limits for sponsors of asset-backed securities accepted under a new $1 trillion loan program.

  • The International Cocoa Organization expects world cocoa production down 5% in 2008-2009, and a supply deficit of 193,000 tons.

  • Ford reports February sales fell 48.4%.

  • Canada’s largest lumber producer, said it would expand shutdowns of sawmills

  • (Bloomberg) -- Chinese state stockpiling of copper may mean the withdrawal of about a quarter of the metal held in warehouses

  • CIUDAD JUAREZ, Mexico (Reuters) - Hundreds of heavily armed soldiers fanned out across Mexico's bloodiest drug war city on Tuesday, trying to prevent a collapse in law and order just south of the U.S. border.

  • EU officials voted to impose a duty on biodiesel imports from the U.S. to counteract a U.S. tax credit.

  • California Governor Arnold Schwarzenegger has called on world leaders to stop "whining and complaining" about the economic slowdown.

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