Category Archives: International

Senate To Vote On Currency Bill –

The Senate voted 63-35 in support of the currency bill.  The currency bill was supported by Republican and Democratic Senators and is hoped to address the trade imbalance due to undervalued currencies.  Although the Senate supported the measure, the House … Continue reading

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Moody’s Downgrades Italian Debt –

Moody’s downgraded Italian government debt from Aa2 to A2 with a negative outlook.  Moody’s cited the increase in long-term funding risks for Euro nations with high levels of debt.  Also, the weak global economic outlook was part of the rationale for … Continue reading

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Currency Legislation –

Democratic Senator Harry Reid has indicated that he will introduce legislation relating to undervalued currencies.  The measure will address the effect that undervalued currencies have on trade.  The Chinese Yuan is one currency that is considered  to be undervalued and acting as a subsidy to … Continue reading

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Oil Sands Pipeline Bill –

The Republican controlled House passed a bill that would require the Obama administration to approve or deny a permit for an oil sands pipeline by November 1st.  The bill passed the House with a vote of 279-147.  The Canadian pipeline would provide … Continue reading

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Moody’s Lowers Credit Rating For Greece –

Moody’s lowered the credit rating for Greece and indicated that they will likely be in default.  After the debt exchange of the EU rescue package, Moody’s may raise the credit rating.  Standard & Poor’s and Fitch rate Greece similarly to … Continue reading

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U.S. Firms Head For Tax Havens –

U.S. firms are heading to tax havens in greater numbers than in the past.  Increased regulations and tax burdens are factors considered by companies that are going public or relocating.  Bermuda and the Caymen Islands are two popular locations for … Continue reading

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Free Trade Deals Set To Pass –

Congress is set to pass free trade deals for South Korea, Columbia, and Panama.  The free trade deals are expected to be sent to Congress from the Obama administration.  The trade agreements have strong support in the Republican controlled House and enough … Continue reading

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Trade Pacts And Programs –

Senator Max Baucus has tied the renewal of the Trade Adjustment Assistance program with trade deals for Korea, Columbia, and Panama.  The Senate Democrat is the Finance Committee Chairman and has the support of at least 41 Senators on this … Continue reading

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Geithner IMF Statement –

Treasury Secretary Timothy Geithner addressed the need for major currency floatation.  In a statement to the International Monetary Fund (IMF) steering committee, Geithner stated the need for major economies to allow their currencies to adjust to market conditions.  The Chinese … Continue reading

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Canadian Pipeline –

The Obama administration is expected to approve the expansion of an existing Canadian pipeline.  The pipeline expansion will increase the amount of oil imported from Canada’s oil sands by over 300,000 barrels a day.  Keystone, the pipeline expansion project, will create hundreds of … Continue reading

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