Iran drops the dollar, begins selling its oil in euros.
On the last day of April, according to a CNN report, Iran's government confirmed that it has begun selling its oil in euros and in yen, something it has long threatened to do. After a failed attempt during last year's summit of OPEC leaders to persuade the cartel to...

30 years ago in reason.
[ILLUSTRATION OMITTED] "Scarcely a day goes by without new headlines on the decline of the dollar. In just the past 12 months it has dropped 16 percent against the Deutschemark, 20 percent against the yen, and 30 percent against the Swiss franc." --Robert Poole Jr.,...

GCC currencies & the euro.
While the currencies of the Gulf Co-operation Council (GCC) countries have depreciated alongside the dollar, the depreciation is even worse in the case of the euro, making many of the Gulf's imports more expensive. Some feel that this "imported inflation" is a major cause of the huge price rises...

Strong medical device sales save Covidien from poor Q2 showing.
Restructuring costs and legal troubles led to a sharp drop in second-quarter net income at Covidien Ltd., but the loss was offset somewhat by a modest rise in sales and double-digit growth in the company's medical device business. Net income for the second fiscal quarter, ended March...

Company Watch - Airbus.
Jun 23, 2008 European jetmaker Airbus said German airlines will require about 900 new planes by 2026, and a senior manager noted that Germany will remain a key market for the company. Jun 17, 2008 Airbus parent EADS Shares Fall After US Tanker Setback. Shares...

Conspicuous consumption is so last year. The new approach is finding affordable indulgences.
SARASOTA HAS BEEN RIDING A WAVE of upscale consumption in the past few years. Some of it has been fueled by the super-wealthy, those corporate CEOs and tech entrepreneurs who jet in to stay at their downtown penthouse or Casey Key estate--one of several homes they own around the...

Aircraft Finance & Leasing News - North America.
Jun 23, 2008 US Environmental Protection Agency is "days away" from issuing a broad document that will detail "ways in which regulation of greenhouse gas emissions" could apply under the Clean Air Act, potentially leading to establishment of carbon dioxide emissions regulations for a broad range of...

McCain boosts Bush's base, economic blunders.
DETROIT -- The "slow motion recession" for the rest of the nation is going at breakneck speeds in Detroit. The grim economic news points to more hardship for working-class Americans and the failure of the Bush administration to address the fundamental problems fostering the spreading misery. President...

Aircraft Finance & Leasing News - Europe.
Jun 23, 2008 Airbus European jetmaker Airbus said German airlines will require about 900 new planes by 2026, and a senior manager noted that Germany will remain a key market for the company. Jun 17, 2008 Airbus, EADS Airbus parent EADS...

Saudi Arabia and the $ peg: the first impact of floating the riyal against the dollar would be to depreciate Saudi Arabia's export earnings and foreign asset holdings.
[ILLUSTRATION OMITTED] THE SAUDI ARABIAN currency, the Saudi Riyal (SR), has long been pegged to the US dollar. Currently the kingdom is experiencing strong levels of growth, on the back of the increase in oil prices. However, the US economy is experiencing a very different trajectory, with...