- The world economy is in its best shape in 18 months as China's prospects improve and the U.S. looks likely to avoid the so-called fiscal cliff, according to the latest Bloomberg Global Poll of investors.
- ASIA-EUROPE rates continued in decline last week to US$1,028 per TEU, down 4.7%, or $51 per TEU WoW, representing the lowest point reached since March, according to the Shanghai Containerised Freight Index (SCFI).
- PriceWaterhouseCoopers warns that even if the current rate of global decarbonisation were to double, we would still be on course for six degrees of warming by the end of the century. Confining the rise to two degrees requires a sixfold reduction in carbon intensity: far beyond the scope of current policies.
http://www.monbiot.com/2012/11/19/housebroken/
- U.S. house prices rose 4.4 percent in the 12 months through September.
- The National Association of Realtors says its seasonally adjusted pending home sales index rose 5.2% points to 104.8 in October. Excluding a few months when the index spiked because of a homebuyer tax credit, that is the highest level since March 2007.
- The Conference Board’s confidence index climbed to 73.7, the highest since February 2008.
- Buffett said that among the 400 with the highest incomes in the U.S. in 2009, the average income was about $200 million, and that six people in that group paid “nothing at all.” “They were in Romney’s 47 percent,” Buffett said.
- Newsweek: The U.S. spends 2.4% of its economy on infrastructure, Europe spends 5%, China 9%.
- Last Monday's winter wheat condition report downgraded the crop condition index to a record low of 304.
- Economist: The average time that people hold a stock on the NYSE has tumbled from eight years in 1960 to four month in 2010.
- Disney boosts annual dividend by 25% to $0.75.
- Retailer Costco said it would pay a special dividend totaling roughly $3 billion or $7 per share.
- World Meteorological Organization reports on record Arctic Sea ice melt, extreme temperatures http://j.mp/Y5Ftff
- Copper demand will outpace supply by 316,000 metric tons in the first six months next year, more than all copper in London Metal Exchange warehouses, before a surplus emerges in the second half, Barclays Plc estimates
- (MJ) Susan Rice, potential Sec. of State pick, may have a major financial stake in the Keystone Pipeline.
(AP)
- Israel OKs construction of 3,000 West Bank units after UN recognition for a Palestinian state.
- India's Q3 GDP growth at 5.3 % YoY.
- Brazil's GDP grew 0.9% in Q3 compared with the same period last year.
- Chinas PMI rose to 50.6 in November from 50.2 in October, signaling slightly faster growth.
- China's grain output rose 3.2% YoY to hit 589.57 million tonnes in 2012, marking the ninth consecutive year of growth, data from the National Bureau of Statistics (NBS) showed Friday.
The corn output amounted to 208.12 million tonnes, up 8 % YoY, while that of rice and wheat gained 1.6% and 2.7%, respectively, to 204.29 million tonnes and 120.58 million tonnes, according to the NBS' online statement.
These numbers show that corn has replaced wheat as China's largest grain variety, the statement said.
- China will strive to foster 100 agricultural companies with annual sales exceeding 10 billion yuan (1.59 billion U.S. dollars) in the next three to five years, a senior agricultural official said. Acquisitions and mergers will be encouraged in the hope that the resulting agricultural conglomerates can act as a potent force in the country's agricultural modernization, while calling for more favorable fiscal and tax policies to support the development of big farming firms.
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