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November 2011

Weather risk looms in Queensland coal country
Energy

Weather risk looms in Queensland coal country

Remember those pictures and videos of cars and trucks bobbing down a surging river in Brisbane? It could happen again. Business Standard reports that severe weather could be on its way to Queensland towards the end of the year: La Niña —a weather phenomenon characterised by unusually cool sea surface temperatures, leading to heavy rains in the Pacific region such as the Queensland floods — has re-emerged but is expected to weaker than last year, metrological agencies have said, adding that the La Niña could strengthen in intensity moving into 2012.

Andrew Topf | November 30, 2011 - 10:07 pm

Stocks rally, lifting commodities
Base Metals

Stocks rally, lifting commodities

North American stock exchanges are on a tear today after central banks made more funds available to lenders, giving investors hope for a way out of the European debt debacle. The markets were also cheered by better than expected private sector job growth in the United States. The mining-heavy S&P/TSX Composite was up 2.5% to just over 12,000 at time of writing. The Dow Jones Industrial Average gained 384 points, or 3.3%, the most on a closing basis since Aug. 11, according to Bloomberg. Spot gold was up $32 from yesterday to $1747 which is just above the 20-day moving average of $1744, noted Kitco. Silver was up marginally to $32.86 from yesterday's $31.92, while benchmark copper was up more than 5% to a two-week high of $7,885/tonne. Zinc, lead, aluminum and nickel were also up from Tuesday.

Andrew Topf | November 30, 2011 - 8:51 pm

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PotashCorp cyberattack needed 100 people to pull off

PotashCorp cyberattack needed 100 people to pull off

CBC News is reporting that last fall's cyberattack on government agencies looking for confidential information on PotashCorp was much larger than previously disclosed and the perpetrators seemed to be after insider information. Seven Canadian law firms were attacked, along with various government agencies. Analysts estimate that the well-coordinated attack must have involved 100 people or more. Although the attacks were traced back to China, that does not mean the attacks were carried out by that country. The Chinese government denies any involvement.

Michael Allan McCrae | November 30, 2011 - 4:27 pm

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