As a side thought to the Iron Ore issues. Earnings and the like are likely to impact on the Australian Currency/Economy and be the most effected in the short-term by the Chinese measures on "Import Loan's and Leverage" in the commodities sector.
Amazingly, if the issues roll (excuse the pun) into the Mills with defaults, one wonders if the £1VsAU$1.85 will be tested. There has been a surprising lack of movement in the GBPvs.Aud even as the news comes to fore of the issues the FX shrugged off the negative to hold the needed $1.80. The Aussie dollar finally gave in to the real economics of the situation and retreated to $1.82...it would appear the Australian prime Minister is getting his wish!
Atb Fraser
Fraser- Im not sure if you have seen the ICSID update re CHL but its on their website now. They have set a sort of timetable under a heading of Procedure 8. Whilst they have rejected the Indonesian gov need for certain procedures, they have pretty much agreed to their timetable, which will see a pre hearing conf call on 1/6/15 and then a hearing on merit shortly after this date. CHL wanted the actual hearing in Jan or Feb 2015 and the govt wanted it the hearing to be in August/Sept 2015, so I guess the govt have won this battle by getting their longer timescales imposed. I guess an RNS is being typed as we speak.
ReplyDeleteIm a bit narky, as Notts batted liked they weren't sure which end of the bat they should hold on to earlier :-))
Cheers. The Leggie