25-Jun-2010

G20

10 Second Headlines of the Week – June 25, 2010

    G20 Week

    + The official theme of the G20 Summit is “Recovery and New Beginnings” and marks the standoff between ‘stimulus’ (USA) and ‘austerity’ (Germany).

    G20 Pre emptive Policies

    + By the U.S. Congress approved the financial reform package this morning which seeks to protect consumers, rescue failing financial institutions, and limit hedge funds from including speculation. Financial institutions would no longer be deemed, “too big to fail”.

    + By China A statement earlier this week announcing flexibility of the Yuan against other currencies.

    Chinese Companies Buying 2 Alberta Assets

    + Encana, Canada’s largest natural gas producer, has entered negotiations with China National Petroleum Corp. (CNPC) on a joint-venture that could be worth $1 – $4 billion.

    + CNPC would be the second Asian petroleum company to team up with Encana.

    + Sinopec has announced plans to purchase a 9.03% stake in Syncrude from ConocoPhillips for $4.65 billion.

    + The recent purchase would bring total Chinese investment in Alberta’s oil sands to over $10 billion CDN.