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) - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.
• U.S. 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, and a light oil sheen spotted near the offshore facility was not believed to be a leak, according to the U.S. Coast Guard.

• Weekend Investor: 5 consumer-sector stocks with stable dividends

Despite cautious spending on detergents, shampoos, food and other basics, many fund managers and investment advisers say consumer-staples makers offer investors better protection in a seesawing stock market.
• Bond Report: Treasurys prices pare loss after jobs, ISM reports

Treasury prices pare losses as the service sector grows less than expected and U.S. nonfarm payrolls in August decline, but not as steep as economists had forecast.
• UPS plane crashes on takeoff in Dubai

A United Parcel Service 747-400 crashes during takeoff in Dubai with two crew members on board, the shipper says.
• Health-care Stocks: Walgreen, Omnicare to trade assets

The drugstore giant and pharmaceutical provider will swap assets in a deal designed to fill gaps in each other's businesses, but the transaction did little to jolt either company's shares.
• Real Estate Weekly: Home-buyer tax credit not likely to make an encore

The real-estate industry was abuzz with chatter earlier this week about the government offering another home-buyer tax credit, after Shaun Donovan, HUD secretary, said on CNN that it was too early to tell if the credit would make a return.

• 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.
• Youth Runs Wild Again in Flushing

Another unheralded American 18-year-old, Ryan Harrison, is turning heads at the U.S. Open.
• 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.

• UPS Cargo Plan Crashes in Dubai

A UPS (NYSE:UPS) cargo plan crash landed shortly after takeoff in Dubai late in the evening Friday, the transportation company said in a statement, with two crew members on board.
• Paraguay police kill second rebel chief

Paraguay police kill second rebel chief
• EXCLUSIVE-Index funds withhold votes on Massey Energy directors

EXCLUSIVE-Index funds withhold votes on Massey Energy directors
• Google settles Buzz privacy lawsuit

Google settles Buzz privacy lawsuit
• US STOCKS-Wall St set for best week in six as fear eases

US STOCKS-Wall St set for best week in six as fear eases

• 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