Resource Investor - Blog

China says Web use surpasses that in U.S.

Fri, 25 Jul 2008 09:20:00 GMT-04:00

China said the number of Internet users in the country reached about 253 million last month. China Internet Network Information Center's estimate shows a powerful surge in Internet adoption in this country over the past few years, particularly among teenagers. The national survey shows that the number of Internet users jumped more than 50%, or by about 90 million, during the past year.

Wrong-way bets on oil sink energy company

Fri, 25 Jul 2008 09:14:00 GMT-04:00

Some analysts estimate that SemGroup handles oil volumes representing around 2.5% of what the U.S. consumes. It counts prominent private-equity firms and hedge funds as shareholders, including a fund owned by private-equity firms Carlyle Group and Riverstone Holdings as well as hedge fund Ritchie Capital Management.

No fuel like an old fuel: coal burns brightly

Fri, 25 Jul 2008 09:11:00 GMT-04:00

Arch Coal, the No. 3 U.S. coal producer by market value, is expected to report today that earnings per share more than doubled on soaring coal prices.

Coal futures on the New York Mercantile Exchange rose 71% during the quarter,

Dutch trading fund charged with manipulating oil prices

Fri, 25 Jul 2008 09:06:00 GMT-04:00

The magnitude of this case -- defendants allegedly profited by about $1 million -- suggests the agency hasn't discovered a major smoking gun to account for high oil prices.

Hyundai folows suit (Honda sentiment) and cuts production

Fri, 25 Jul 2008 09:00:00 GMT-04:00

Following an 11% drop in second-quarter net profit on poor returns from investments in overseas units, Hyundai said it would cut production by 8% in the U.S.

Private-equity firms/funds take another look at banks

Fri, 25 Jul 2008 08:52:00 GMT-04:00

The willingness to tiptoe back into ailing banks comes despite the fact that private-equity firms, hedge funds and other investors are far underwater on a slew of bank investments made in the past several months. While second-quarter results confirmed that many banks and thrifts will be grappling with bad loans for years, the financial-stock rally that erupted last week is causing some firms with plenty of ready capital to give the beleaguered sector another look.

Honda posts 8.1% rise in net, cuts global sales forecast

Fri, 25 Jul 2008 08:46:00 GMT-04:00

Though Japan's No. 2 auto maker by sales volume, behind Toyota Motor Corp., beat analysts' expectations, the company is still bracing for a tough year

Cleveland-Cliffs' fateful flaw

Fri, 25 Jul 2008 08:42:00 GMT-04:00

Cleveland Cliffs, the iron-ore producer may have inadvertently put itself into play. This since it forgot to get just one thing before unveiling its $10 billion deal for Alpha Natural Resources Inc. -- Phil Falcone's permission.

Amid turmoil, U.S. turns away from deregulation

Fri, 25 Jul 2008 08:38:00 GMT-04:00

Gathering steam: a major challenge to the movement toward deregulation that has defined American governance for much of the past quarter-century since the "Reagan Revolution" of the early 1980s. In fact, some proponents today of a bigger oversight role for government are Republican heirs to the legacy of President Reagan.

Greenpeace breaks into Syncrude Canada operation in Alberta

Fri, 25 Jul 2008 08:31:00 GMT-04:00

FORT MCMURRAY, ALTA. (CP) -- Greenpeace activists broke into a Syncrude Canada Ltd. operation in northern Alberta on Thursday as part of the group's campaign against oilsands development.

Spokesman David Martin said they unfurled several banners — one reading "World's Dirtiest Oil: Stop the Tar Sands" — at the tailings pond where an estimated 500 migratory birds died in April, but were stopped by security before they could block the end of a tailings pipe.

He said 11 activists were detained, handed trespassing tickets carrying a $287 fine and then released. RCMP say charges are pending.

"We were in the process of trying to block a tailings pipe (when) we were discovered and had to discontinue that, but we did put up a pretty amazing banner," said Martin, adding two Greenpeace climbers in full hazardous materials gear climbed out to the end of the pipe and hung a skull and crossbones banner.

Syncrude spokesman Mark Kruger confirmed the activists entered the site without permission. It's believed they gained access by breaking through a locked gate.

The protesters were "escorted" to a safe area at the Aurora site, away from the tailings pond.

"The main concern is their safety," said Kruger. "For people coming on to the site, it's an industrial site, and there could be safety hazards that they're not aware of. That's our prime concern."

Alberta is considering whether to charge Syncrude over the dead ducks under the province's environmental laws.