Aussie and Kiwi weaken ahead of EU summit

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Source: Bloomberg
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New Zealand and Australian Dollar depreciated against most of their peers on Monday before EU officials meet today in Brussels to debate on debt turmoil. Aussie gave up 0.7% to $1.0588, while Kiwi slipped 0.5%, reaching $0.8209. Analysts see some pessimism returning to markets. AUD/USD currently is trading at $1.0549 and NZD/USD is trading at  $0.8182.
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Mon, 30 Jan 2012 08:24:23 GMT

Asian shares weaker amid EU summit and PBOC announcement

Asian markets closed lower on Monday as investors awaited for EU summit and anticipated news that Beijing will not introduce monetary easing. Japan's Nikkei Stock Average dropped 0.66%, South Korea's Kospi lost 1.24% while Australia's S&P/ASX 200 slipped 0.4%. Shanghai Composite Index edged down 1.47% and Hong Kong's Hang Seng Index fell 1.19%. 

Mon, 30 Jan 2012 07:33:05 GMT

TonenGeneral prepares to buy Exxon Mobil Japanese unit

TonenGeneral Sekiyu agreed to acquire Exxon Mobil Corp. Japanse division for $3.9bn. TonenGeneral is going to acquire 99% of Exxon Mobil Yugen Kaisha unit which manufactures and sells fuel. The deal will be financed by cash and bank loans. Analysts expect TonenGeneral to seek strategic partner to cover purchasing costs. Japanese refiners are struggling with surging operating costs as government forces them to implement technologies which

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