Other news
Asia
Beef Tags Required 10/16/2003 Korea retailer demands that beef products be electronically tagged.
Japan, Mexico struggle to strike 11th-hour FTA deal (10/16) Japan and Mexico were racing against the clock Wednesday to reach a compromise on a bilateral free trade agreement in time for today's meeting between Prime Minister Junichiro Koizumi and Mexican President Vicente Fox.
30-Somethings Facing Closed Doors (Seoul) Those in their 20s and 30s, usually thought to be in their career prime, are bearing the brunt of protracted economic downturn, according to both government statistics and to the f...
WTO to seek conclusion of Doha Round as plannedGENEVA, Oct. 16 Kyodo - (EDS: UPDATING WITH ADDITIONAL INFO) World Trade Organization (WTO) General Council Chairman Carlos Perez Del Castillo said Thursday he still sees hope for WTO members to conclude the current Doha Round of talks by the deadline of Jan. 1, 2005, despite the failure of their ministerial meeting in Mexico (22 :21)
Businesses concerned at failure of Japan-Mexico FTA talksTOKYO, Oct. 16 Kyodo - Business leaders expressed their concern Thursday at the breakdown of talks between Japanand Mexicoon a free trade agreement (FTA) over the issue of tariffs on Mexican pork imports. (22 :02)
Japanese official raps Mexican negotiating style in FTATOKYO, Oct. 16 Kyodo - The way Mexicoconducted negotiations on a free trade agreement (FTA) with Japanwas 'problematic,' a senior Foreign Ministry official said Thursday. (21 :42)
Japan, Mexico Fail to Clinch Free Trade DealBy George Nishiyama | TOKYO (Reuters) - Japan and Mexico failed on Thursday to clinch a bilateral free trade agreement (FTA) despite last-ditch efforts to resolve differences over politically sensitiv... (photo: WN)Reuters
Japanese PM eyes major cabinet reshuffle Japanese Prime Minister Junichiro Koizumi is likely to conduct a major cabinet reshuffle if he wins reelection as leader of the ruling Liberal Democratic Party (LDP) on Saturday.
Japan's biggest department store opens in Nagoya ( 09/18-14:14) TOKYO, Sept. 18 (Xinhuanet) -- Matsuzakaya Co., Japan's fifth-largest department store chain, opened Japan's biggest department store Thursday in Nagoya with a new floor added to its flagship main store.
Americas
Brazil says wants $10 bln IMF loan guarantee-paper - Reuters Securities - Oct 16 9:28am
Brazilian Finance Minister Antonio Palocci said he was negotiating with the International Monetary Fund to secure "insurance" of $10 billion in emergency funds in case of an international economic crisis, a local newspaper said on Thursday.
Europe/Russia/Middle East
No Science to EU Beef Ban - 10/16/2003 U.S.officials say there's no sound science to Europe's recent request to lift tariffs because they have new science to supporting their ban of U.S.hormone-treated beef.
Europe to Enshrine Beef Ban And Ask U.S. to Lift Tariffs (10/15, Wall Street Journal) The European Union plans to announce Tuesday that it has taken all the necessary steps to permanently ban U.S. hormone-treated beef as a health threat and that the U.S. should lift $116 million in annual punitive tariffs imposed on European goods. Subscription required.
New Twist in Hormone Beef Row 10/16/2003 EU says it now complies with WTO ruling on hormone beef and calls on USA and Canada to lift trade sanctions.
Testing snafus could delay lift of UK cattle ban Chief medical officers from the British Agriculture Ministry are now rethinking plans to lift the U.K. ban on cattle older than 30 months, after reports Tuesday that six beef cattle entered the food chain without requisite tests for bovine spongiform encephalopathy.
Italy posts latest case of BSE The Health Ministry confirmed Italy's 111th case of mad cow disease Monday, saying a cow from a breeding farm near Parma had tested positive, the Associated Press reported.
Putin Sets Out on Asian Journey President Putin has left on a 10-day jaunt through Asia, en route to Malaysia, Thailand and Kyrgyzstan.
USA
Cattle market breaks – for nowThe changes in the rules at the CME on Tuesday, which expanded trading limits and increased margin calls, allowed traders to exit their short positions on Wednesday, according to Art Paulsrud, a trader with ADM. "Changing the rules, changed the game," he said. The cash market now is likely to lead the futures back down, he said. "And prices usually go down faster than they go up." In Guymon, Oklahoma, cattle feeder Paul Hitch was glad to see the market cooling down enough to lift hedges on his own cattle. Still, economists aren't expecting an imminent crash.
CME Raises Daily Price Limits for Live Cattle Futures Contract - 10/15/2003Hedgers should have a better chance to get out.
To Fund or Not to Fund, that is the COOL Question - 10/15/2003 New survey shows producers and retailers aren't in favor but mini-omnibus appropriations bill could leave Congress without a choice but to pass.
Mexican farmers in Iowa criticize NAFTA 10/14 A group of Mexican farmers came to Des Moines on Monday to tell Iowans that imports of cheap corn, soybeans and meat produced in the United States are devastating the Mexican countryside.
Fed Says Economic Activity Is Picking Up (10/15, Associated Press) Economic activity was accelerating in early fall with consumer spending strong in most parts of the country and even the nation's beleaguered manufacturing sector showing signs of life, the Federal Reserve reported Wednesday.
Scientists Closer to Understanding Prion Disease (10/15, Reuters) Scientists are a step closer to understanding how a normal brain protein transforms itself and causes fatal brain-wasting illnesses such as mad cow disease and its human equivalent.
Asia
Beef Tags Required 10/16/2003 Korea retailer demands that beef products be electronically tagged.
Japan, Mexico struggle to strike 11th-hour FTA deal (10/16) Japan and Mexico were racing against the clock Wednesday to reach a compromise on a bilateral free trade agreement in time for today's meeting between Prime Minister Junichiro Koizumi and Mexican President Vicente Fox.
30-Somethings Facing Closed Doors (Seoul) Those in their 20s and 30s, usually thought to be in their career prime, are bearing the brunt of protracted economic downturn, according to both government statistics and to the f...
WTO to seek conclusion of Doha Round as plannedGENEVA, Oct. 16 Kyodo - (EDS: UPDATING WITH ADDITIONAL INFO) World Trade Organization (WTO) General Council Chairman Carlos Perez Del Castillo said Thursday he still sees hope for WTO members to conclude the current Doha Round of talks by the deadline of Jan. 1, 2005, despite the failure of their ministerial meeting in Mexico (22 :21)
Businesses concerned at failure of Japan-Mexico FTA talksTOKYO, Oct. 16 Kyodo - Business leaders expressed their concern Thursday at the breakdown of talks between Japanand Mexicoon a free trade agreement (FTA) over the issue of tariffs on Mexican pork imports. (22 :02)
Japanese official raps Mexican negotiating style in FTATOKYO, Oct. 16 Kyodo - The way Mexicoconducted negotiations on a free trade agreement (FTA) with Japanwas 'problematic,' a senior Foreign Ministry official said Thursday. (21 :42)
Japan, Mexico Fail to Clinch Free Trade DealBy George Nishiyama | TOKYO (Reuters) - Japan and Mexico failed on Thursday to clinch a bilateral free trade agreement (FTA) despite last-ditch efforts to resolve differences over politically sensitiv... (photo: WN)Reuters
Japanese PM eyes major cabinet reshuffle Japanese Prime Minister Junichiro Koizumi is likely to conduct a major cabinet reshuffle if he wins reelection as leader of the ruling Liberal Democratic Party (LDP) on Saturday.
Japan's biggest department store opens in Nagoya ( 09/18-14:14) TOKYO, Sept. 18 (Xinhuanet) -- Matsuzakaya Co., Japan's fifth-largest department store chain, opened Japan's biggest department store Thursday in Nagoya with a new floor added to its flagship main store.
Americas
Brazil says wants $10 bln IMF loan guarantee-paper - Reuters Securities - Oct 16 9:28am
Brazilian Finance Minister Antonio Palocci said he was negotiating with the International Monetary Fund to secure "insurance" of $10 billion in emergency funds in case of an international economic crisis, a local newspaper said on Thursday.
Europe/Russia/Middle East
No Science to EU Beef Ban - 10/16/2003 U.S.officials say there's no sound science to Europe's recent request to lift tariffs because they have new science to supporting their ban of U.S.hormone-treated beef.
Europe to Enshrine Beef Ban And Ask U.S. to Lift Tariffs (10/15, Wall Street Journal) The European Union plans to announce Tuesday that it has taken all the necessary steps to permanently ban U.S. hormone-treated beef as a health threat and that the U.S. should lift $116 million in annual punitive tariffs imposed on European goods. Subscription required.
New Twist in Hormone Beef Row 10/16/2003 EU says it now complies with WTO ruling on hormone beef and calls on USA and Canada to lift trade sanctions.
Testing snafus could delay lift of UK cattle ban Chief medical officers from the British Agriculture Ministry are now rethinking plans to lift the U.K. ban on cattle older than 30 months, after reports Tuesday that six beef cattle entered the food chain without requisite tests for bovine spongiform encephalopathy.
Italy posts latest case of BSE The Health Ministry confirmed Italy's 111th case of mad cow disease Monday, saying a cow from a breeding farm near Parma had tested positive, the Associated Press reported.
Putin Sets Out on Asian Journey President Putin has left on a 10-day jaunt through Asia, en route to Malaysia, Thailand and Kyrgyzstan.
USA
Cattle market breaks – for nowThe changes in the rules at the CME on Tuesday, which expanded trading limits and increased margin calls, allowed traders to exit their short positions on Wednesday, according to Art Paulsrud, a trader with ADM. "Changing the rules, changed the game," he said. The cash market now is likely to lead the futures back down, he said. "And prices usually go down faster than they go up." In Guymon, Oklahoma, cattle feeder Paul Hitch was glad to see the market cooling down enough to lift hedges on his own cattle. Still, economists aren't expecting an imminent crash.
CME Raises Daily Price Limits for Live Cattle Futures Contract - 10/15/2003Hedgers should have a better chance to get out.
To Fund or Not to Fund, that is the COOL Question - 10/15/2003 New survey shows producers and retailers aren't in favor but mini-omnibus appropriations bill could leave Congress without a choice but to pass.
Mexican farmers in Iowa criticize NAFTA 10/14 A group of Mexican farmers came to Des Moines on Monday to tell Iowans that imports of cheap corn, soybeans and meat produced in the United States are devastating the Mexican countryside.
Fed Says Economic Activity Is Picking Up (10/15, Associated Press) Economic activity was accelerating in early fall with consumer spending strong in most parts of the country and even the nation's beleaguered manufacturing sector showing signs of life, the Federal Reserve reported Wednesday.
Scientists Closer to Understanding Prion Disease (10/15, Reuters) Scientists are a step closer to understanding how a normal brain protein transforms itself and causes fatal brain-wasting illnesses such as mad cow disease and its human equivalent.