Dollar Reaches Highest in Three Months on View Fed Won't Cut Rates in 2007

(Bloomberg) -- The dollar rose to the highest level
in almost three months against the yen and advanced versus the
euro as signs of a strengthening economy prompted traders to cut
bets the Federal Reserve will lower borrowing costs this year.

The U.S. currency also gained this week against the pound,
Swiss franc and currencies in Australia and New Zealand on the
data, which showed advances in consumer confidence, industrial
production and employment. The yen dropped as low interest rates
spurred investors to buy higher-yielding assets funded by loans
in Japan, known as carry trades.


Read more at Bloomberg Currencies News

Zimbabwe govt to revoke unused mine claims

(Reuters) - Zimbabwe President Robert Mugabe's government has warned miners that they risk losing mining claims undeveloped for lengthy periods of time, state media reported on Saturday.

Mines Minister Amos Midzi told a meeting of the Chamber of Mines that government would implement a "use it or lose it" policy to discourage miners holding onto claims for speculative purposes without developing them, the state-owned Herald newspaper said.


Read more at Reuters Africa

Alcoa plans Alcan aerospace and auto sales

(Reuters) - Alcoa, which has made a $28 billion hostile bid for Canadian rival Alcan Inc., plans to go to antitrust authorities soon with a list of Alcan aerospace and automotive assets to sell if the deal goes forward, a source familiar with the situation said on Friday.

Antitrust questions would be raised particularly in those two areas by the merger, which would create the world's largest aluminum producer. The company plans to present the list to competition authorities in the European Union, United States and Canada, the source said.


Read more at Reuters Africa