US Consumer borrowing jumps to decade record high in November

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Source: Bloomberg

Consumer borrowing in US rose in November reaching a 10-year record-high indicating households feel safe to borrow and financials are ready to lend. Consumer Credit surged by $20.4 bn, the biggest increase since November 2001, to $2.48 trillion, said Federal Reserve. Analysts questioned by Bloomberg predicted an expansion of only $7 bn.

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Tue, 10 Jan 2012 07:51:08 GMT

Alcoa reports first three-monthly loss since 2009

Alcoa Inc. the leading US aluminum manufacturer reported first trimestral loss since 2009 as prices for the metal tumbled. The net loss of fourth quarter of 2011 $191 million or $0.18 per share, compared to net revenue of $258 m year before. Alcoa shares fell 44% last year making company the second worst performer within Dow Jones Industrial Average Index.

Tue, 10 Jan 2012 07:49:37 GMT

Chinese import growth slips in December

China's import declined hitting two-year record low in December, stressing a slowdown in world's second biggest economy. Imports added annual 11.8% in December less than was predicted by analysts earlier. Exports surged 13.4% widening the trade surplus to $16.5 bn. Timothy F. Geithner, Treasury Secretary, is expected to reintroduce pressure for a stronger Chinese Yuan.

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