Unreported Soros Event Aims to Remake Entire Global Economy

Two years ago, George Soros said he wanted to reorganize the entire global economic system. In two short weeks, he is going to start - and no one seems to have noticed.

On April 8, a group he's funded with $50 million is holding a major economic conference and Soros's goal for such an event is to "establish new international rules" and "reform the currency system." It's all according to a plan laid out in a Nov. 4, 2009, Soros op-ed calling for "a grand bargain that rearranges the entire financial order."

IPO Turtles Approach Finish Line

If there were an award for IPO patience and persistence, two companies that are planning to go public in the U.S. this week would be top contenders.

Private-equity firm Apollo Global Management LLC, which is aiming to raise $500 million on the New York Stock Exchange under the ticker APO, has been in registration since April 2008, just a few months before the market for initial public offerings ground to a halt during the global economic crisis. Vitamin retailer GNC Holdings Inc., which is seeking $383 million on the NYSE with a listing under GNC, has been waiting since 2004. This is its third attempt.

Conference Examines Russia-US Relationship

A mix of Russian, European and American professors and political figures evaluated the newly cemented Russia-U.S. friendship and its impact on Europe's political climate on Monday in the Intercultural Center.

The three panels, "Is There a New Euro-Atlantic Security Architecture," "Energy and Economic Security" and "Arms Control and Nonproliferation," focused on how the trilateral relationship can best be used to meet the challenges of a rapidly changing international economic and political environment.

Overseas property 'offers reasonable security'

Investing in foreign property could prove to be a secure investment, an expert has argued.

Ray Withers, founding director of Property Frontiers, said on the Buy Association podcast that people who may have bought stocks and shares in the past are increasingly looking towards foreign property.

He noted that such an investment can offer good returns while still being relatively secure, as it will not lose its value "overnight".

Clinton asks for report on implications of water scarcity

Acknowledging that water scarcity in the coming decades could lead to large scale conflicts globally, the top US diplomat has asked the national council to prepare a report on the implications on national security due to water scarcity in 2040.

"I (have) asked the National Intelligence Council to prepare an intelligence estimate on the national security implications of water security up to the year 2040," Secretary of State Hillary Clinton said in her remarks at the World Bank on the occasion of World Water Day.

The ILO gives its first comprehensive assessment of Germany’s policy to tackle the crisis

The FINANCIAL -- GENEVA. Despite a dramatic decline in output as a result of the global financial and economic crisis, Germany’s labour market held up well compared with other countries.

Although the economy shrank by 4.7 per cent in 2009, more than in most other countries, employment fell by only 0.2 per cent, whereas the average for the industrialised countries was five times worse than in Germany. This was the conclusion reached by the first comprehensive assessment of Germany’s policy to tackle the crisis, issued by the International Labour Organization (ILO) on March 21.

Local food bank feels brunt of world crisis

Canadians are bracing themselves for another round of rising food as sky-rocketing oil prices brought on by Middle East unrest and the global economic crisis is impacting every link in the food production chain. Pressure on food costs, rising costs for gas and electricity and a lack of jobs are all contributing to increased reliance on local food banks across Canada, a trend that Deb Billwiller, president of the Boundary Food Bank Society, says hits close to home.

Regional Economic Growth in the Spotlight at JEF 2011

Turkish Prime Minister joins economic experts at first day of JEF

Jeddah, Saudi Arabia March 20, 2011: Global and regional economic growth and development came under the spotlight at the first day of the Jeddah Economic Forum.

Hosted by the Jeddah Chamber of Commerce & Industry, the forum's first session was moderated by McKinsey & Co Senior Director, Kito De Boer. Participating speakers included HE Mohammad Al Jasser, Governor of the Saudi Arabian Monetary AgencySaudi Arabian Monetary Agency.

A devastated Japan overwhelms conventional economic expectations

Washington faces high stakes from the devastation in Japan. The event is certain to dampen near-term demand from the state's third-largest export customer, reaching everything from airliners to the fishing industry. In the long-run, however, this wealthy nation will undertake a massive rebuilding that could turn into a net positive here.

In addition to the horrific human toll of the Japanese disaster, it is the second "black swan" event to strike the global economy in four years.

Samsung Says Japan Quake, Oil Prices to Slow Global Growth

Samsung Electronics Co., the world’s largest maker of televisions and memory chips, forecast that Japan’s worst earthquake on record and higher oil prices will undermine the global economic recovery this year.

That will probably prevent the electronics industry from experiencing much of an improvement in 2011, Samsung Electronics Chief Executive Officer Choi Gee Sung said during the company’s annual shareholders’ meeting in Seoul today. Samsung will continue to boost sales and profit by cutting production costs and developing premium products, Choi said.

G4S shares down despite rising profit

Security firm G4S reported another successful year, with rising profits and growth in turnover for the sixth year running.

Security firm G4S (GFS) reported another successful year, with rising profits and growth in turnover for the sixth year running.

Profit before interest, tax and amortisation rose to £527 million in 2010 from £506 million in 2009, in line with turnover, which grew 4.1% to £7.4 billion.

Finding a place in a rebalanced global economy

Warning — unashamedly patriotic Canadian content to follow!!! If you are a member of the “Blame Canada” constituency, or if you share Michael Kinsley’s view that the world’s most boring headline is “Worthwhile Canadian Initiative,” then please read no further ….

I, however, am an enthusiastic Canadian, and I was absolutely thrilled earlier this year when Morris Rosenberg, the Deputy Minister of Foreign Affairs, invited me to deliver the annual O.D. Skelton lecture on foreign policy at the Department of Foreign Affairs and International Trade in Ottawa.

U.S. should support Brazil’s Security Council bid

President Obama will be warmly greeted by huge crowds in Brazil when he arrives March 19 for the beginning of a Latin American tour, but only modest progress can be expected on the agenda of foreign-policy problems confronting the two countries. There is only one thing that could dramatically elevate the significance of Obama’s visit — the U.S. president’s unambiguous endorsement of Brazil for a permanent seat on the U.N. Security Council.

Going global

Globalisation may seem at odds with the current mood of tentative economic recovery but, as Mark Frary discovers, thinking big can offer businesses some very real benefits...

The green shoots of recovery may be starting to appear, but that does not mean the pressure on travel buyers at multinational companies to keep their costs under control has subsided.

Indeed, the global economic landscape is still undergoing a seismic restructuring. As a result, merger and acquisition activity has increased as companies try to manage the huge piles of cheap debt they used to grow in the golden years, and companies with cash look to make clever buys of rivals in trouble.

Business Highlights

Americans are spending more of their growing wealth. The economy still needs companies to do the same.

Still lacking the confidence to spend at normal levels, businesses have stockpiled nearly $1.9 trillion in cash, a record, the government said Thursday. Cash now accounts for 13 percent of corporate assets, the highest share since 1984. Economists say the surest way to reduce unemployment would be for companies to spend more of that cash to expand and hire.

Global Economic War Erupts on Multiple Fronts in Middle East and West Africa

The stock market lies muted and still today as word comes from an array of battle fronts seemingly unrelated but all bearing on the question of world financial and global security.

A loyal, multi-faceted partnership

A loyal and solid friendship unites our two countries. These precious ties, which we must maintain staunchly, were founded on a commonality of values based on an attachment shared by both our states to democracy, multilateralism, dialogue between civilisations, which requires a sustained policy of cultural exchanges.

The richness of this multi-faceted partnership is especially illustrated in the sector of sustainable development and transport.

Oil no immediate threat to recovery

The sharp jump in the oil price due to political upheaval in North Africa and the Middle East does not pose an immediate risk to ongoing world economic recovery.

The price of Brent crude oil has risen more than 21% since the start of this year and was trading just above $115/barrel on Friday.

This has led to fears of rapidly rising food prices and another global economic downturn as prices seem to be heading for 2008 levels, which contributed to the worldwide economic recession.

Oil higher ahead of US employment data

The situation in Libya has not deteriorated any further but then again it has not improved any. The opposition group still retains control of all of the areas including the oil port of Brega that forces loyal to Gaddafi have tried twice unsuccessfully to recapture even with airstrikes. The market eased a bit yesterday on a combination of a mediation proposal by Venezuela's Chavez and the Arab League...an unlikely duo since they are mostly autocratically ruled governments and the uprising in Libya is about freedom. Today Gaddafi forces are putting checkpoints around Tripoli as the opposition group has called for a protest in Tripoli after the noon prayers.

Hong Kong Stocks Fall Most in a Week on Oil; Sands China Drops

Hong Kong stocks fell by the most in a week after oil prices surged to the highest level since September 2008, raising concern more expensive energy costs will derail global economic growth.

Cathay Pacific Airways Ltd., the city’s biggest airline, declined 2.6 percent after crude prices rallied above $100 a barrel on concern turmoil in the Middle East will spread from Libya to Iran. Developers sank on concern inflation will accelerate, prompting China’s government to take more steps to curb higher prices. Sands China Ltd. tumbled 6.3 percent after its majority shareholder said it faced investigations by U.S. authorities.

Social Tensions In Algeria Being Handled, Says FM

Social tensions in Algeria are being handled and freedom of expression exists, says Foreign Minister Mourad Medelci.

"The social tensions, recently seen, concerned questions of purchasing power, which has been undermined by soaring prices induced by the global economic crisis," Medelci told a news conference held jointly with visiting Portuguese Foreign Minister Luis Filipe Marques Amado here Monday.