The bank fell 5.4 percent in Swiss trading after saying net redemptions at its
wealth management units increased to 45.2 billion francs ($42.3 billion) from
26.6 billion francs in the previous three months. Analysts surveyed by
Bloomberg had estimated 17.5 billion francs in outflows. UBS,
By Camila Fontana The U.S. bank also changed its year-end forecast to 1.8 per
dollar from 1.75, according to a report by strategists Emy Shayo Cherman and
Ben Laidler dated yesterday. “If risk aversion remains, the real should
continue to weaken,” they wrote. “Flows to Brazil
By Camila Fontana Feb. 9 (Bloomberg) -- The Brazilian real gained for a second
day as commodity prices rose and local stocks soared. The benchmark Bovespa
stock index jumped 2.3 percent to 64,623.58. Brazil is the world’s largest
exporter of beef, orange juice, coffee and
Feb. 9 (Bloomberg) -- Brazil, the world’s second -biggest iron-ore exporter,
may start taxing shipments of the steelmaking raw material as it seeks to lure
investment in domestic steel plants, Energy and Mining Minister Edison Lobao
said. Brazilian President Luiz Inacio Lula da
By Camila Fontana The real gained 1 percent to 1.8565 per dollar at 7:45 a.m.
New York time, from 1.8755 yesterday, when it rose 0.2 percent. The Brazilian
currency benefits from “a calmer external scenario that is driving commodities
up,” said Paulo Petrassi , a partner at Leme
ALUMINA Ltd is making a surprise return to dividend-paying status despite its
2009 profit being savaged by the impact of the global financial crisis on
alumina and aluminium demand and prices. Earnings collapsed from $202 million
in 2008 to a loss of $2 million on an ''underlying''
Brazilian President Luiz Inacio Lula da Silva has been pushing Vale SA, the
world’s biggest iron-ore miner, to step up investments in steelmaking and
create more jobs in the country instead of sending ore abroad for processing.
The government “wants more” from Vale than the $17
ALUMINA is making a surprise return to dividend-paying status even though its
profit last year was savaged by the impact of the global financial crisis on
demand and prices for alumina and aluminium. The group's earnings collapsed
from $202 million in 2008 to a loss of $2 million on an
China Investment became the fourth-largest holder in the Oil Fund by buying 2
million shares, equal to 3.48 percent of the outstanding units, with a value of
$78.6 million, according to a Securities and Exchange Commission 13-F filing
posted on Feb. 5. It also took a 1.45 million share
Feb. 9 (Bloomberg) -- Brazil, the world’s second -biggest iron-ore exporter,
may start taxing shipments of the steelmaking raw material as it seeks to lure
investment in more domestic steel plants, Energy and Mining Minister Edison
Lobao said. Brazilian President Luiz Inacio Lula da
The bank fell 5.4 percent in Swiss trading after saying net redemptions at its
wealth management units increased to 45.2 billion francs ($42.3 billion) from
26.6 billion francs in the previous three months. Analysts surveyed by
Bloomberg had estimated 17.5 billion francs in outflows. UBS,
