Oil N’ Gold

More Analysis and Technicals on Crude Oil, Natural Gas, Gold & Silver

The market was at a ‘risk on’ mode as supported by strong economic data. Better-than-expected ADP payrolls and jobless claims data sent Wall Street higher and raised optimism on the June non-farm payroll which is due today. In the commodity sector, oil price rallied further with the front-month contract for WTI crude oil jumped to a 3-week high of 99.42 before settling at 98.67, up +1.04%, while the equivalent Brent crude contract surged to as high as 118.7 before closing at 118.59, up +4.37%. As crude prices have returned to levels before IEA’s announcement of SPR release, the WTI-Brent spread widened again to as much as $20/bbl.

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The US Dollar is mixed this morning as divergent economic data is coupled with a rise in stocks and a fall in commodities. Thin summer liquidity is also in full effect this morning ahead of the long holiday weekend in the US, causing a spike in volatility. U. of Michigan Confidence was released this morning at 71.5, down from last month’s reading of 71.8, and short of the 72.0 expected. However, ISM Manufacturing unexpectedly surged in June in a sign that the industrial sector is rebounding after parts shortages stemming from the Japanese disasters earlier this year weighed on the segment over the past few months. T

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On this day in 191, inventor Paul Edward Yost was born. He was the inventor of the modern hot air balloon and is called the Father of the Modern Day Hot-Air Balloon.

In the 1950s, Yosts own interests turned toward reviving the lost practice of manned hot-air ballooning. This technology had first been invented in France by in the late 18th century by pioneers led by the Montgolfier brothers, but under the Montgolfier system the balloons air was heated by a ground fire prior to the balloon being released.

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July 1 – Fonterra Cooperative Group has exercised a pre-emptive right to buy the 50% of rural supplies chain RD1 that it doesn’t already own after its Australian partner was acquired by Canada’s Agrium.

No price was disclosed for the transaction. RD1, with 57 stores in New Zealand, had total assets of $137 million and net assets of $14.9 million, as at May 31, 2010, its accounts show.

Landmark, the Australian rural supplies chain owned by AWB, acquired a half stake in RD1 from Fonterra in 2006 as part of a trans-Tasman alliance. Landmarks contribution was a net $35 million to $45 million, according to an AWB statement at the time.

It competes with PGG Wrightson Ltd., New Zealand’s biggest rural services company. Canada’

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July 4 –Charlie’s Group founders Stefan Lepionka, Mark Ellis and Simon Neal, along with other majority shareholders, have agreed to sell the juice-maker for $129.3 million to Japanese brewer, the Asahi group.

The local unit of the Japanese drinks giant, Asahi Beverages New Zealand Ltd., is offering 44 cents apiece to Charlie’s shareholders, a premium of 57% to the juice-maker’s closing price of 28 cents on Friday.

Asahi already has 52.17% approvals, and intends to take full control, requiring at least 90% to achieve a takeover.

Charlie’s board of directors has recommended shareholders accept the deal unless a better offer eventuates or the independent adviser’s report says the price falls short of the valuation range.

“Asahi’s intended offer represents a very strong premium over market for shareholders to consider,” chairman Ted van Arkel said in a statement. The independent d

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Having trouble finding a way to thank employees for their hard work when your business is having trouble getting by? USA Today has some advice from SBA head, Karen Mills, that may help.

Many employees understand the financial constraints that come with running a business during bumpy economic times and appreciate creative efforts to recognize their contributions. Here are some ways to provide rewards without breaking the bank:

Think 365. Many firms reward employees once a year — usually in conjunction with a performance review. A better approach is to sincerely reward workers throughout the year. T

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Who knows your community better than you? If you know where all the great places to visit and eat are at in your town and city, why not start your own tours for tourists?

That is exactly what Julia Segal is doing with her own business, Kingston By Fork. According to Frontenac EMC, she started a food tourism business with some help from The Entrepreneurship Centres Summer Company program.

Segal offers two tours: Homegrown Eats, which allows participants to experience the local food scene in Kingston and ends with lunch at Aqua Terra by Clark Restaubistro, and A Taste of the World, which focuses on the diverse tastes that can be found in the Limestone City.

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