offshore-finances.com

Caterpillar Inc. (NYSE:CAT), the world’s largest manufacturer of construction and mining equipment, remains concerned regarding the detrimental effect of Australia’s proposed 40% Resources Super Profit Tax (RSPT) on its Australian sales and profits.

On May 2, 2010, the Australian government unveiled its new 40% tax rate on mining projects effective July 2012 that sent ripples of dissent through the mining sector. The proposed levy would be imposed on the companies’ returns that exceed the rate … [visit site to read more]

Until recently, momentum behind the effort to turn US crude’s bullish range reversal into a clear trend has been relatively reserved. That is until today when the active futures contract cleared a notable range resistance around $76 and $75.50 and proceeded to overtake the 200-day moving average.
North American Commodity Update
Commodities – Energy
Crude Marks a Strong Bullish Breakout to a Monthly High with the Support of Risk Appetite and a Weak Dollar
Crude Oil (LS NYMEX) – $76.94 // $1.82 … [visit site to read more]

Discount brokerage firm The Charles Schwab Corporation (NASDAQ:SCHW) released its monthly activity report for May 2010 on Monday, recording a 7.0% sequential decline in total client assets. At the end of May, client assets totaled $1.412 trillion, up 16% on year-over-year basis.

For the month of May, client trading was very active, with daily average trades recorded at 512,700, up 17.0% from the prior month and 14.0% on a year-over-year basis. For the month, Schwab’s net new assets — including … [visit site to read more]

With ongoing and incremental cost efficiencies, on Monday, Tenet Healthcare Corporation (NYSE:THC) raised its 2010 guidance for adjusted EBITDA to a range of $1.035 billion to $1.100 billion, from the prior range of $0.985 billion to $1.050 billion. The outlook also projects a revised range for net income attributable to Tenet shareholders of $135 million to $204 million, up from $70 million to $94 million. The revised range for earnings per share of 27−40 cents per share was up from 14−19 … [visit site to read more]

As fear continues to loom in investor’s eyes and the Federal Reserve expected to maintain its short-term nominal interest rate target near or at zero, the appeal for gold is expected to continue to soar.
Gold has appeal for numerous reasons and will likely continue to be the “go-to” precious metal.  The shiny metal offers protection from inflation, which is a fear that many investors have, a hedge against a falling dollar and has long been a safe haven for Central Banks.   … [visit site to read more]

Despite witnessing stellar economic growth over the past two years, rising prices could put a damper on India’s future.
In March 2010 India’s consumer prices rose 14.9 percent when compared to a year ago, marking the largest increase of any G-20 nation.   This drastic increase in prices has been led by a surge in food prices which has been brought on by pure supply and demand forces.  With a drier than normal monsoon season, an absence of rainfall took its toll on rice, wheat … [visit site to read more]

In an attempt to repay its $950 million government bailout fund, Lincoln National Corp. (NYSE:LNC) announced its intention to raise money through equity and debt offering. As a result, on Monday, the company publicly offered its common stock of about 12.3 million at a purchase price of $27.25 per share. The company expects to raise approximately $335 million from the offer.

While this equity stock offering is projected to be closed by June 18, 2010, Lincoln has offered its underwriters a 30-day … [visit site to read more]

I need to make a point of visiting my Sense on Cents link to Project Syndicate on a more regular basis. This site provides a virtual treasure trove of fabulous writers and insightful global perspectives. For example widely read and renowned economist Nouriel Roubini offers what policymakers should do in writing, How to Avoid a Double-Dip Recession,

First, in countries where early fiscal austerity is necessary to prevent a fiscal crisis, monetary policy should be much easier – via lower … [visit site to read more]

Fitch Ratings has today downgraded BP’s long-term issuer default rating (IDR) and senior unsecured rating by six notches to BBB from its previous rating of AA.
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Directors of British Sky Broadcasting have rejected an offer News Corporation to take full control of the satellite broadcaster in which it has a 39 per cent stake.
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