Foreign Exchange News

LONDON (Reuters) - First-half earnings at Xstrata (XTA.L: Quote, Profile, Research) rose 42 percent on higher commodity prices, a stronger dollar and efficiency gains, the Swiss-based company said on Wednesday. Xstrata, which is closing in on a C$24 billion (11.3 billion pound) bid for Canadian miner Falconbridge (FAL.TO: Quote, Profile, Research) , said strong commodity prices, cost-savings and growth projects were expected to create "significant value" in the second half. "The outlook for X ...

SAN FRANCISCO (Dow Jones) -- Latin American stocks closed in the red Tuesday on fears that interest-rate increases in the U.S. will continue in the foreseeable future in the wake of a new batch of strong economic data. Stocks on Wall Street were pressured by U.S. core consumer inflation data, which matched an 11-year high in June. Rising energy prices and weak monthly auto sales added to the mo ...

Soaring benefit costs pose a key threat to the US economy, Treasury Secretary Henry Paulson has warned. Huge costs related to schemes like Medicare risked limiting America's economic "flexibility" and its competitive edge, Mr Paulson said. In his first public comments since taking the post he also signalled he would stick to the strong dollar policy of his predecessor John Snow. He also echoed Mr Snow's criticism of China's monetary policy. The US has long attacked China for failing to loose ...

WASHINGTON (Dow Jones) -- Although his two predecessors were carried off the field after bruising political battles, new Treasury Secretary Henry Paulson said Monday that he won't shy from the fight to overhaul Social Security. "I have always tried to live by the philosophy that when there is a big problem that needs fixing, you should run towards it, rather than away from it," Paulson told the ...

CHICAGO (Dow Jones) -- Handbag and leather-goods maker Coach Inc. on Tuesday said quarterly income surged 31% as luxury-seeking consumers shook off macro- spending concerns. The company also boosted its forecast for fiscal 2007. Shares, however, slipped 20 cents to $28.51 amid a broader market meltdown. For the fiscal fourth quarter that ended July 1, Coach earned $117.6 million, or 31 cents ...

NEW YORK -(Dow Jones)- Gold futures settled slightly lower on Monday in New York. Most-active December gold settled down $1 at $646.80 a troy ounce. During the session the contract traded in a tight $640.50 to $649 an ounce range. Despite the nearly flat close on the day, Larry Young, senior trader at Infinity Brokerage said gold is building a base to move higher amid the uncertain "geopolit ...

Helen Loveless, Mail on Sunday31 July 2006 WE do like to get about. Britons took a total of 67m overseas trips last year, and not surprisingly we know where to look for cheap flights and last-minute breaks - but finding the best deal on foreign currency is not as easy. GOOD DEAL: Lily Pla-Miro buys her foreign currency from Marks & Spencer WANT TO KNOW MORE? DEAL FINDER: Buy your travel money DATA: Foreign currency rates OTHER STORIES Free cash machines victory St ...

NEW YORK (Dow Jones) -- A strong week for stocks, but the top-performing letter isn't buying. The International Harry Schultz Letter's portfolio has gained up 94.9% over the past 12 months according to the Hulbert Financial Digest, vs. 9.8% for the dividend-reinvested Dow Jones Wilshire 5000. Schultz hasn't always shown up so well in the Hulbert ratings, although over the past five years his ...