Fed Sees Up to $599 Billion in Bank Losses Worst-Case Capital Shortfall of $75 Billion at 10 Banks Is Less Than Many Feared; Some Shares Rise on Hopes Crisis Is Easing By DAVID ENRICH, ROBIN SIDEL and DEBORAH SOLOMON The federal government projected that 19 of the nation’s biggest banks could suffer losses of up Continue Reading →
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| A fisherman surveys the scene as he steers his boat alongside a recently cleared area of fores |
The UK Independent this weekend ran major features alerting Britons to the 43 per cent of food products on supermarket shelves that contain palm oil and the impact it has on tropical rainforests.
Of Britain’s 62 most popular food brands, 32 contain palm oil representing six billion pounds of the sixteeen billion pounds spent anually on food. Palm oil is widely used in chocolates, breakfast cereals, bread and pre-baked foods and is generally identified as vegetable fat or vegetable oil.
Even Prince Charles’ organic food range, Original Duchy, has been shown to contain palm oil. Original Duchy raises money for environmental causes.
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| By cracking a lucrative specialist fruit market and fine-tuning their operation to the point where labour costs have been halved in a decade, Ken and Jennie Ross (pictured) are providing a perfect example of small-area farming efficiency. |
54,000 small farmers in NSW Australia have built a recession proof financial institution based on investments in small intensive farms that are very efficient and do not carry large debts and high overheads.
The members of the BananaCoast Credit Union celebrated forty years of local operation by lending another 20 percent of its total capital to local operators in the last six months.
Agribusiness specialist in the Coffs Harbour, NSW office of the credit union said that profitable members were taking advantage of a good season to borrow money and expand their operations by buying less profitable operations and building long term infrastructure.
The government of the United Kingdom revoked a permit for an anti-poverty group to protest outside the G20 summit last week, according to the Telegraph. The World Development Movement, a registered charity that had originally been given a permit, claims that police told it the permit had been revoked on orders from 10 Dowling St. In contrast, The Royal Bank of Scotland Building was publicly targeted by black bloc anarchists. Police allowed the group to march on the building which was the only building in the immediate vicinity not boarded up and had a large contingent of national and international media waiting. Representatives of the World Development Movement and media group Prison Planet have claimed that the government is deliberately stage managing the protests to minimise public sympathy for protests designed to support the developing world and ending world poverty.
The communique from last week’s G20 meeting proves that world leaders are determined to save the banks at the cost of ordinary people and future generations according to UK Guardian columnist, George Monbiot. He lampooned the final communique summarising it as saying, “we will use every cent we don’t possess to rescue corporate capitalism from Continue Reading →
From The Land Shares in Macquarie Group – the corporate flagship of Macquarie Bank and its raft of subsidiaries – are no longer a market favourite, but that doesn’t seem to faze investors in Macquarie Pastoral Fund. From a 2008 high of $66 in May, Macquarie Group shares have plunged to below $20 as the Continue Reading →