Japanese auto giant Mitsubishi will shift some of its production to Brazil. The move is in part to mitigate the effects of the higher Japanese Yen, according to the Nikkei newspaper. Mitsubishi's objective is to install in Brazil its base for exports in all of Latin-America. Another reason is to take advantage of special tax and duties that are in effect between Brazil and the rest of Latin-America.
The company also intends to increase production in Brazil.
In banking news, Itau/Unibanco reported today, symbol ITU on the NYSE. Net profits were R$7.8B. This includes provision sof R$3.0B for bad loans. Without this provision, the net profits would have been R$10.6B, an increase of 9.1% over the previous tear.
ITU shares dropped 3.4% today.
These numbers would certainly be the envy of many banks in North-America!
Thursday, February 26, 2009
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- Paul Volcker's Speech In Toronto
- Stay Away from 2X ETFs, Cause and Effect Relations...
- Don't Buy USO or USL, Buy UGA Instead
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- Job Market for 2009
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- February Max Pain Update, Demystifying MaxPain
- President Barack Obama Visits Canada
- Update on USO and March Oil Contracts
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- Buyers of USO Beware
- Max Pain for February, Price Convergence Watch
- Correlation of the Dow 30 Stocks
- UCO Straddles for This Week and March
- Snow Artists, Protectionism, and Obama Visits Cana...
- World's Oil Production: Top Consumers and Producer...
- Updated UCO and USO Straddles
- Results for UCO, USO, UNG Straddles
- Straddles for Oil and Natural Gas, USO, UCO, UNG
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- Straddles for February 9 and 10
- The Tale of USO, USL and Contango.
- AKAM, AMZN and WY Straddles Analysis
- Ice Artists
- UCO Straddle Results
- Catedral Bar Offers Madoff drinks
- Straddles for Tomorrow Friday
- UCO Straddles for February and March
- The DJIA, DOW 30... or is it the DOW 15? A Skewed ...
- SunLife Insurance Straddles
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