Philip Chua Business Blog

Archive for the ‘Uncategorized’ Category

Reuters – Mining giants BHP Billiton and Rio Tinto on Saturday signed a $116 billion iron ore joint venture agreement to combine their Western Australian iron ore operations.

Reuters – General Motors will not cut more jobs at Opel in Germany if the German government refuses to give state aid although the U.S. carmaker said it remains confident that Berlin will soften its current stance.

Reuters – The U.S. economy has been kick-started into growth but stock investors still face an uncertain outlook as Wall Street gears up for comments from the Federal Reserve and a key report on employment next week.

Reuters – President Barack Obama said on Saturday this week’s positive job and economic growth figures proved that his big spending efforts to stimulate the economy were working.

Reuters – U.S. retailers are expected to post positive October sales results this week, but investors hoping for a clear signal on economic recovery could be in for disappointment, industry experts said.

AP – As Bernard Madoff sat in jail a few months after pleading guilty to fraud, he sounded faintly boastful.