Thursday, July 19, 2007

Quick Overview

  • U.S. Index of leading indicators fell 0.3% in June. The index has been down in four of the past six months.

  • The Philadelphia Federal Reserve's regional index of factory activity fell from 18.0 to 9.2.

  • U.K.'s Retail sales were up 0.2% in June.

  • The International Copper Study Group said that in the first four months of 2007, world copper demand exceeded production by 157,000 tons.

  • Losses in the fast-unraveling subprime lending market could top $100 billion, but the Federal Reserve is taking measures to protect borrowers, according to Fed Chairman Bernanke.

  • Japans earthquake disclosed safety problems that could arise at nuclear-power plants during a powerful earthquake. The fault along which Monday's magnitude-6.8 earthquake occurred appears to extend right beneath Kashiwazaki-Kariwa nuclear plant -- the world's largest atomic power complex.

  • Malaysia's leader called for a massive economic overhaul of the Islamic world to boost its competitiveness so Muslims can reap the benefits of globalization.

  • China is canceling its aluminum import taxes, impose export taxes instead .

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