European Union competition regulators launched two anti-trust investigations against IBM, suspecting it of abusing its dominant position in the mainframe computer market. One investigation followed complaints by emulator software vendors T3 and TurboHercules against IBM's practices, and focuses on the US computer group's alleged tying of mainframe hardware to its mainframe operating system.
The second probe, opened on the European Commission's own initiative, concerns alleged discriminatory behaviour towards competing suppliers of mainframe maintenance services.
"The Commission has concerns that IBM may have engaged in anti-competitive practices with a view to foreclosing the market for maintenance services ... in particular by restricting or delaying access to spare parts for which IBM is the only source," said the Commission on Monday. The Commission enforces EU competition rules and can fine companies that break them. IBM rejected the allegations but promised to cooperate fully with the investigation.
"IBM is fully entitled to enforce its intellectual property rights and protect the investments we have made in our technologies," the company said in a statement. It said Microsoft and its other big competitors had inspired the commission's action. "The accusations made against IBM by TurboHercules and T3 are being driven by some of IBM's largest competitors — led by Microsoft," it said, adding that in this way the software supplier wanted to cement the dominance of its Wintel servers.
Showing posts with label euro. Show all posts
Showing posts with label euro. Show all posts
Monday, July 26, 2010
Friday, June 11, 2010
Superior Gold Group - Euro crisis pushes gold to yet another record
Long-term investors in dealer gold had their foresight rewarded yet again this week as the precious metal soared to another record high due to concern about the European debt crisis.
A Tuesday Reuters report noted that gold's new record price now stands at above $1,250 per ounce, while gold futures for August delivery stood at another record of $1,254.50. The wire service also noted that the gold prices have risen about 12 percent during the current quarter alone.
Elsewhere, a report from Bloomberg News quoted Paul Walker, CEO of GFMS, Ltd., as saying that gold prices could trade between $1,050 and $1,300 for the rest of this year, with the potential to soar as high as $2,000 per ounce if the current European debt crisis extends to other regions of the world.
The current sovereign debt crisis focuses on fears that Greece, followed by Spain and Portugal, will eventually default on its bond obligations, which would result in billions of dollars in fresh losses for European banks.
However, the United States and other countries, including Mexico and Great Britain, have been receiving their own levels of investor concern about heavy budget deficits and long-term fiscal problems.
A Tuesday Reuters report noted that gold's new record price now stands at above $1,250 per ounce, while gold futures for August delivery stood at another record of $1,254.50. The wire service also noted that the gold prices have risen about 12 percent during the current quarter alone.
Elsewhere, a report from Bloomberg News quoted Paul Walker, CEO of GFMS, Ltd., as saying that gold prices could trade between $1,050 and $1,300 for the rest of this year, with the potential to soar as high as $2,000 per ounce if the current European debt crisis extends to other regions of the world.
The current sovereign debt crisis focuses on fears that Greece, followed by Spain and Portugal, will eventually default on its bond obligations, which would result in billions of dollars in fresh losses for European banks.
However, the United States and other countries, including Mexico and Great Britain, have been receiving their own levels of investor concern about heavy budget deficits and long-term fiscal problems.
Tuesday, May 18, 2010
Superior Gold Group - Stocks fall, euro at 4-yr low, oil dips
Stocks fell for a third day on Monday on growing concerns that Europe's debt problems will hamper a global rebound. The Dow Jones industrial average fell about 80 points in late morning trading. The Dow fell 81.4 points, or 0.8%, to 10,538.6. It has fallen seven of the last nine days.
Stocks fell after the euro, which is used by 16 countries in Europe, fell to a four-year low. Investors are questioning whether steep budget cuts in countries including Greece, Spain and Portugal will hinder an economic recovery in Europe and in turn, the US traders are also concerned that loan defaults could ripple through to banks in stronger countries like Germany and France.
The austerity measures are required under a nearly $1 trillion bailout programme the European Union and International Monetary Fund agreed to last week. The rescue package provides access to cheap loans for European countries facing mounting debt problems.
The euro fell to as low as $1.223 early Monday before moving higher. The plunging euro has been driving trading around the globe in recent days. The weakness in the euro has helped boost the value of safe-haven investments like the dollar, Treasuries and gold. It has also driven commodities like oil lower.
Oil fell below $70 a barrel for the first time since February. Oil is priced in dollars so a stronger dollar deters investment in oil. Crude oil fell $1.76 to $69.8 per barrel on the New York Mercantile Exchange. That hit shares of energy companies.
A disappointing report on regional manufacturing from the New York Federal Reserve weighed on sentiment. A forecast from home-improvement retailer Lowe's Cos also fell short of expectations. The questions about Europe overshadowed other news and dominated trading. Investors in the US who had been growing more confident about a rebound in this country now are questioning whether the problems in Europe will disrupt a recovery.
Stocks fell after the euro, which is used by 16 countries in Europe, fell to a four-year low. Investors are questioning whether steep budget cuts in countries including Greece, Spain and Portugal will hinder an economic recovery in Europe and in turn, the US traders are also concerned that loan defaults could ripple through to banks in stronger countries like Germany and France.
The austerity measures are required under a nearly $1 trillion bailout programme the European Union and International Monetary Fund agreed to last week. The rescue package provides access to cheap loans for European countries facing mounting debt problems.
The euro fell to as low as $1.223 early Monday before moving higher. The plunging euro has been driving trading around the globe in recent days. The weakness in the euro has helped boost the value of safe-haven investments like the dollar, Treasuries and gold. It has also driven commodities like oil lower.
Oil fell below $70 a barrel for the first time since February. Oil is priced in dollars so a stronger dollar deters investment in oil. Crude oil fell $1.76 to $69.8 per barrel on the New York Mercantile Exchange. That hit shares of energy companies.
A disappointing report on regional manufacturing from the New York Federal Reserve weighed on sentiment. A forecast from home-improvement retailer Lowe's Cos also fell short of expectations. The questions about Europe overshadowed other news and dominated trading. Investors in the US who had been growing more confident about a rebound in this country now are questioning whether the problems in Europe will disrupt a recovery.
Sunday, April 25, 2010
Gold ends higher on housing data bounce
Gold for June delivery, the most active contract, rose $10.80, or 0.9%, to settle at $1,153.70 an ounce on Comex. The contract had earlier hit an intraday low of $1,135.20 an ounce.
Most metals chased gold higher, but palladium posted losses. Palladium for June delivery lost $1.90, or 0.3%, to $563.20 an ounce.
On the week, gold posted a 1.5% increase despite steep losses on April 16 and Monday. Gold prices lost 2% last Friday on a selloff triggered by news U.S. regulators had charged Goldman Sachs Group Inc. with fraud.
"There's been some ups and downs but gold is on a very nice uptrend," said Richard Ross, a technical analyst with Auerbach Grayson in New York. "This ability to dust itself off is very bullish."
Gold often wears two hats -- as a risky asset as well as a defensive one -- and Friday it was benefitting from both, Ross said.
"Gold is taking on a different group of followers," those who are not attracted to gold just on things are dire, Ross said. "Now gold is also seen as a sign of economic sensitivity ... people own it for a lot of different reasons."
Gold prices seesawed early but took a turn for the worse after the U.S. Commerce Department reported demand for durable goods had dropped 1.3% in March after a 1.1% rise in February.
It reversed course again, however, after a report showed U.S. sales of new homes surged in March. The housing report also lifted stocks and other commodities such as oil. Read more about new-home sales.
But as demand from investors was enough for prices to claw back, physical buyers were seen as sidelined.
"We're not seeing physical buying," said Stephen Platt, an analyst with Archer Financial Services in Chicago. "The buying we're seeing is short covering, rather than some real fresh interest in gold."
Meanwhile, silver for May delivery, the most active contract, gained 18 cents, or 1%, to $18.19 an ounce on Comex. Copper for July delivery rose 2 cents, or 0.7%, to $3.5305 a pound.
Platinum, which on Thursday hit its highest level since July 2008, gave back gains Friday. Platinum for July delivery ended 2.50 lower, or 0.1%, to $1,741.70 an ounce on Comex.
Palladium for June delivery retreated $1.90, or 0.3%, to $563.20 an ounce.
Earlier, the euro hit a one-year low against the dollar but came off the session lows as Greece formally requested aid from the European Union and the International Monetary Fund.
Prime Minister George Papandreou asked to tap a 45 billion euro ($59.9 billion) package after soaring borrowing costs were seen as making it nearly impossible for the country to meet its funding needs on the open market.
The news helped spur a relief rally in the euro, and European stocks were clawing back ground after sliding Thursday when Greece's debt rating was cut by Moody's. Read more on Greece request for aid
The dollar index (INDEX:DXY) , which measures the greenback against a basket of six major currencies, traded lower at 81.35.
Gold ended lower Thursday on the back of a stronger dollar and sidelined physical buyers, but investment demand was strong enough to trim some of the losses toward the end of the session.
source: market watch
Most metals chased gold higher, but palladium posted losses. Palladium for June delivery lost $1.90, or 0.3%, to $563.20 an ounce.
On the week, gold posted a 1.5% increase despite steep losses on April 16 and Monday. Gold prices lost 2% last Friday on a selloff triggered by news U.S. regulators had charged Goldman Sachs Group Inc. with fraud.
"There's been some ups and downs but gold is on a very nice uptrend," said Richard Ross, a technical analyst with Auerbach Grayson in New York. "This ability to dust itself off is very bullish."
Gold often wears two hats -- as a risky asset as well as a defensive one -- and Friday it was benefitting from both, Ross said.
"Gold is taking on a different group of followers," those who are not attracted to gold just on things are dire, Ross said. "Now gold is also seen as a sign of economic sensitivity ... people own it for a lot of different reasons."
Gold prices seesawed early but took a turn for the worse after the U.S. Commerce Department reported demand for durable goods had dropped 1.3% in March after a 1.1% rise in February.
It reversed course again, however, after a report showed U.S. sales of new homes surged in March. The housing report also lifted stocks and other commodities such as oil. Read more about new-home sales.
But as demand from investors was enough for prices to claw back, physical buyers were seen as sidelined.
"We're not seeing physical buying," said Stephen Platt, an analyst with Archer Financial Services in Chicago. "The buying we're seeing is short covering, rather than some real fresh interest in gold."
Meanwhile, silver for May delivery, the most active contract, gained 18 cents, or 1%, to $18.19 an ounce on Comex. Copper for July delivery rose 2 cents, or 0.7%, to $3.5305 a pound.
Platinum, which on Thursday hit its highest level since July 2008, gave back gains Friday. Platinum for July delivery ended 2.50 lower, or 0.1%, to $1,741.70 an ounce on Comex.
Palladium for June delivery retreated $1.90, or 0.3%, to $563.20 an ounce.
Earlier, the euro hit a one-year low against the dollar but came off the session lows as Greece formally requested aid from the European Union and the International Monetary Fund.
Prime Minister George Papandreou asked to tap a 45 billion euro ($59.9 billion) package after soaring borrowing costs were seen as making it nearly impossible for the country to meet its funding needs on the open market.
The news helped spur a relief rally in the euro, and European stocks were clawing back ground after sliding Thursday when Greece's debt rating was cut by Moody's. Read more on Greece request for aid
The dollar index (INDEX:DXY) , which measures the greenback against a basket of six major currencies, traded lower at 81.35.
Gold ended lower Thursday on the back of a stronger dollar and sidelined physical buyers, but investment demand was strong enough to trim some of the losses toward the end of the session.
source: market watch
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