commodity news

• UN calls special food price talks

The United Nations' food agency calls a special meeting of policy makers to discuss the recent rapid rises in food prices.
• HSBC threatens to quit London HQ

HSBC may quit its London headquarters if the UK government decides to break up big banks, a senior executive says.
• Petrobras files $65bn share offer

The Brazilian state oil company, Petrobras, unveils plans to sell up to $64.5bn of new stock, in one of the world's largest share offers.
• BP says oil spill cost up to $8bn

BP says the cost of its Gulf of Mexico oil spill has risen to $8bn - a rise of more than $2bn in the last month alone.
• Shift in home loan availability

The cost of mortgages is continuing to fall and they are becoming more accessible to some borrowers, figures show.

• China Offers Rare Glimpse Into Forex Reserves

China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.
• Powerful Earthquake Hits New Zealand's South Island


• Strong Yen Helps to Fuel Germany’s Export Boom


• China Investors Approach Canadian Fund on Potash Bid


• UPS Plane Crashes in Dubai; Officials Say 2 Killed

• Strong Yen Helps to Fuel Germany’s Export Boom

A stronger yen is good news for German machinery and auto companies whose main competitors often are based in Japan. The New York Times reports.
• Companies Shunning Banks on Stress Tests Doubts


• New Weak Euro Link? IMF Calls out Finland


• Austerity Equals Confidence: Trichet


• UK August Services PMI Falls to 16-Month Low

• Bomb kills 54 in Pakistan, Taliban threaten U.S.

QUETTA, Pakistan (Reuters) - A suicide bomber struck a rally in the Pakistani city of Quetta on Friday, killing at least 54 people in the second major attack this week, piling pressure on a U.S.-backed government overwhelmed by a flood crisis.
• Quake of 7.4 hits New Zealand near Christchurch

WELLINGTON (Reuters) - A major earthquake of 7.4 magnitude hit New Zealand, 30 km (20 miles) west of Christchurch early on Saturday morning, causing no immediate reports of casualties but widespread damage, authorities said.
• Clinton: time ticking for Israel-Palestinian peace

WASHINGTON (Reuters) - Secretary of State Hillary Clinton on Friday urged Israel and the Palestinians to overcome the final obstacles to peace, saying their new talks may be a last chance to end the conflict.
• Eight die as wildfires consume Russian villages

MOSCOW (Reuters) - Wildfires swept through dozens of villages in southern Russia, killing at least eight people and reducing more than 400 homes to smoldering ruins, officials said Friday.
• Four Mexican politicians die in plane crash

OAXACA, Mexico (Reuters) - Two members of Mexico's Congress and two local politicians were killed on Friday when their private plane crashed near a popular Mexican Pacific beach resort, officials said.

general news

• Obama says to address new economic ideas next week

WASHINGTON (Reuters) - President Barack Obama will outline new measures next week to boost the U.S. economy after August data on Friday showed again that jobs -- the central issue in November elections -- were being created too slowly.
• Quake of 7.4 hits New Zealand near Christchurch

WELLINGTON (Reuters) - A major earthquake of 7.4 magnitude hit New Zealand, 30 km (20 miles) west of Christchurch early on Saturday morning, causing no immediate reports of casualties but widespread damage, authorities said.
• U.S. and Israel spying behind BlackBerry woe: Dubai police

DUBAI (Reuters) - Concerns over Israeli access to BlackBerry data, and the use of the device by the United States to spy on the United Arab Emirates are behind the Gulf state's moves to curb the smartphone, Dubai's police chief said.
• Payrolls data offer ray of hope for recovery

WASHINGTON (Reuters) - Employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.
• Government probes Mariner platform fire

HOUSTON (Reuters) - The U.S. government on Friday launched an investigation into Mariner Energy Inc's Gulf of Mexico platform fire, according to the U.S. Coast Guard.

• After Hours: Take-Two shares move lower in late trade

Take-Two Interactive Software Inc. shares slip late Friday, giving back a portion of their dayside gains after the videogame publisher swung to a quarterly profit.
• Washington Calendar: Washington events for Sept. 6 - 10

Government offices are closed in observance of Labor Day.
• NewsWatch: Stocks close higher on jobs optimism

U.S. stocks close higher Friday on positive reaction to the latest jobs report.
• Canadian Markets: Financials, industrials drive Toronto index gain

Toronto Stock Exchange holds onto slight gains to close up 2.2% for the week on the strength of the financial and industrial sectors on a day that both oil and gold prices decline.
• Hurricane Earl heads toward Cape Cod

Hurricane Earl batters the North Carolina shore and heads further up the East Coast toward Virginia and Massachusetts .

• Gates Sketches Afghan Combat Timeline

Defense Secretary Robert Gates said he envisions two or three more years of combat operations in Afghanistan before the U.S. transitions to an advisory role, a mission likely to last years more.
• Economists Grapple Over Job Creation

Washington's response to the country's stubbornly high unemployment rate will depend in part on who wins an increasingly intense debate over its causes.
• Seeds for Apple TV in Washington

If regulators matter to Apple, it is as a threat to its growth. Except, that is, when it comes to what Steve Jobs likes to call a hobby: Apple TV.
• U.S. Private Sector Adds 67,000 Jobs

The U.S. economy lost 54,000 jobs in August as census workers continued to exit payrolls, but the private sector added 67,000 jobs. The unemployment rate rose to 9.6%.
• Goldcorp to Buy Andean

Canadian miner Goldcorp said it had reached a deal to buy Andean Resources in a deal that values the gold company at around $3.42 billion.

• Relief Rally: Dow Labors 128 Points Higher

Capping off its best pre-Labor Day week in 20 years, the Dow thundered 128 points higher on Friday as the bulls cheered August’s less-awful-than-expected jobs report and waved off concerns stemming from a gloomy service-sector index.
• Allegiance Bank Posts Stronger 2Q, Extends Private Placement Offering

Pennsylvania-based Allegiance Bank of North America said Friday it agreed to extend the Private Placement Offering engagement of Cohen & Company Securities, active since May, for another month, and it reported strong second-quarter earnings.
• Goldcorp makes $3.4 bln bid for Andean Resources

Goldcorp makes $3.4 bln bid for Andean Resources
• American Eagle Outfitters Recalling Select Toddler Pants

American Eagle Outfitters said Friday it is recalling select styles of toddler girls pants, jeans and shorts of its 77kids brand due to a potential choking hazard.
• American Airlines Traffic Growth Increases To 3.1% In August

American Airlines Traffic Growth Increases To 3.1% In August

• Dow back in the black for 2010

Stocks closed near session highs Friday, with the Dow erasing its losses for the year, as investors welcomed a better-than-expected report on the U.S. job market.
• 6 fastest growing jobs


• Obama: Small biz bill won't add a dime to deficit


• Should US government debt be rated junk?

A few weeks ago, Hedgeye, the investment research firm where I'm a managing director, hosted a conference call for our subscribers that posed the question, "Should U.S. Government Debt Be Rated Junk Status?" Given that debt issued by the U.S. government continues to trade at almost all-time lows in yield, this is a contrarian call to say the least.
• Investing $10,000 in four months

Question: I have a budget of $10,000 for a stock simulation I'm doing for a business and personal-finance class. What stocks should I invest in to make the most money in four months? -- Matt