Tip:Crude oil fell for a third day before a report forecast to show the U.S. unemployment increased last month, signaling the world’s largest energy user remains mired in recession.

     Q:Can you give us some data about the falling?

     A:Crude oil for August delivery fell as much as $1.14, or $1.64, to $68.17 a barrel in electronic trading on the New York Mercantile Exchange. It traded $68.23 at 10:41 a.m. London time. Prices are up 53 percent this year.

     Supply from the Organization of Petroleum Exporting Countries increased for a third month in June, a Bloomberg News survey showed yesterday.

     Oil output averaged 28.23 million barrels a day last month, up 55,000 from May, according to the survey of oil companies, producers and analysts. The 11 OPEC members with quotas, all except Iraq, pumped 25.86 million barrels a day, 1.015 million more than their target.

     Brent crude oil for August settlement declined as much as $1.09, or 1.6 percent, to $67.70 a barrel on London’s ICE Futures Europe exchange. It was at $67.97 a barrel at 10:38 a.m. in London.

     Q:Then ,what is the reason of it?

     A:U.S. fuel demand in the four weeks ended June 26 fell 5.8 percent from a year earlier, while demand for distillate fuel including heating oil and diesel, fell 9.4 percent, according to a Department of Energy report yesterday. The Labor Department will likely report the U.S. shed an additional 365,000 jobs in June, a Bloomberg survey showed.

     Other useful information: (more…)

     Tip:The Swedish central bank cut its benchmark interest rate Thursday by a quarter of a percentage point to 0.25 percent, saying the economic downturn appeared to be deeper than previously forecast.

     Q:what does the The Swedish central bank say?

     A:The bank said the rate was “expected to remain at this low level over the coming year” and added there were “several signs that economic activity will improve.” Most economists had expected the bank to leave borrowing costs steady.

     The central bank also announced it would offer 100 billion kronor, or $13.1 billion, in one-year loans to banks at 0.15 percentage point above the benchmark rate.

     Q:What is the reaction of  The European Central Bank?

     A:The European Central Bank is expected to leave its main rates steady later Thursday after the recent release of a string of more positive economic data.

     Q:What are the results of  the cutting? (more…)

     The news about G8 are seen everywhere these days.Because they will have many activities.In fact,I am not very familiar with this org,so I want to collect some information about G8.(See more on wikipedia.org)

     The Group of Eight (G8, and formerly the G6 or Group of Six) is a forum, created by France in 1975, for governments of eight nations of the northern hemisphere: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States; in addition, the European Union is represented within the G8, but cannot host or chair. “G8″ can refer to the member states or to the annual summit meeting of the G8 heads of government. The former term, G6, is now frequently applied to the six most populous countries within the European Union (see G6 (EU)). G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers.

     Each calendar year, the responsibility of hosting the G8 rotates through the member states in the following order: France, United States, United Kingdom, Russia, Germany, Japan, Italy, and Canada. The holder of the presidency sets the agenda, hosts the summit for that year, and determines which ministerial meetings will take place. Lately, both France and the United Kingdom have expressed a desire to expand the group to include five developing countries, referred to as the Outreach Five (O5) or the Plus Five: Brazil, China, India, Mexico, and South Africa. These countries have participated as guests in previous meetings, which are sometimes called G8+5. Recently, France, Germany, and Italy are lobbying to include Egypt to the O5 and expand the G8 to G14. (more…)

     Tip:Four leading advertising trade associations — the American Association of Advertising Agencies, the Association of National Advertisers, the Direct Marketing Association, or DMA, and the Interactive Advertising Bureau — drew up the “self-regulatory principles.”

     Q:what is their purpose by proposing Self-regulation Principles?

     A:Their immediate impetus was criticism that too much information was gathered about Internet users that was shared too widely and stored for too long.

     Q:Can you give us more details about the principles?

     A:The principles would require online advertisers to choose an icon or phrase that would be used by all web sites to point Internet users to a site where they could learn what information was being collected and perhaps opt out.

     “People will be able to say ‘Don’t collect any information on me for online behavioral advertising purposes,’” said Stuart Ingis, a partner at law firm Venable LLP who worked on the principles.

     Information about children and sensitive information about all computer users would face a higher standard.

     No information would be collected about “children they (advertisers) have actual knowledge are under the age of 13 or from sites directed to children under the age of 13 for online behavioral advertising,” the groups said in the principles. (more…)

     Tip:The yen and the dollar strengthened as stocks around the world declined before a report likely to show the U.S. unemployment rate rose to a 26-year high, spurring demand for the currencies as a refuge.

     Q:what is the opinion of China?

     A:Chinese Foreign Ministry official said he was “not aware” of a plan to discuss a new reserve currency at next week’s Group of Eight meeting. Sweden’s krona dropped after the Riksbank unexpectedly cut its main interest rate. The Swiss franc fell after a central bank board member said officials will act to prevent its gains. The euro slid before a meeting at which European Central Bank policy makers will probably leave the benchmark rate at a record low.

     “If there’s a disappointing number, the market will take fright and the dollar may get more support,” said Gavin Friend, a markets strategist at National Australia Bank in London. The China comments “offer support, the market has been on tenterhooks ahead of the G-8 meeting.”

     Q:Can you give us some examples of the currency?

     A:The dollar strengthened to $1.4097 per euro as of 9:54 a.m. in London, from $1.4142 in New York yesterday, when it weakened to $1.4201, the lowest level since June 5. The U.S. currency was at 96.69 yen from 96.65 yen. The yen appreciated to 136.30 per euro from 136.70 yesterday, when it reached a two-week low.

     Q:how does the currency influence the unemployment rate ?

     A:U.S. employers cut 365,000 jobs last month after reducing them by 345,000 in May, according to a Bloomberg News survey of economists before the Labor Department report. The unemployment rate climbed to 9.6 percent, a separate Bloomberg survey showed.

     Other information:

     The Dollar Index, which tracks the currency against those of six major U.S. trading partners including the euro, yen and pound, advanced 0.4 percent to 79.946.

     “We hope that as the main reserve currency the exchange rate of the U.S. dollar will be stable,” China’s Vice Foreign Minister He Yafei told reporters in Beijing. “This international financial crisis has fully exposed the weaknesses and loopholes in the international monetary system.”

     The dollar fell yesterday after Reuters reported that China had asked to debate proposals for a new global reserve currency at the G-8 summit in Italy. China’s central bank renewed its call for a new global currency in its 2008 review released last week, prompting speculation that the country will diversify its currency reserves. (more…)