China’s (YAO, quote) Ministry of Industry and Information Technology has taken a very large step to clean up substandard rare earth miners. The Ministry has set strategic rules to regulate access to technology equipment, resources, and raised the minimum scale of production required for rare earth mining.
From a technical point of view, emerging markets have gotten a nice lift over the last week. But not all slices of the globe have bounced back equally.
China’s economic growth in the first quarter of 2012 dipped to a slower than expected 8.1%, down from 8.9% the previous quarter and the slowest rate in three years.
Britain’s trade deficit rose to £8.8 billion ($14 billion) in February from £7.9 billion in January, according to the Office for National Statistics.
Retail sales in the United Kingdom rose 1.3% last month over a year earlier, according to the British Retail Consortium (BRC), raising the prospects of a British economic recovery.
While Chinese exports grew more than expected – 8.9% – in March, signaling increased global demand, imports grew by just 5.3%, down from February’s 39.6% jump.
China’s inflation rate rose by a greater than expected 3.6% from a year earlier, up from February’s 3.2% increase, as food and fuel costs continued to climb.
Samsung has announced that its profits nearly doubled to $5.1 billion during the first quarter of 2012, as the world’s largest smart phone manufacturer saw its sales climb.
A tepid response to Spain’s latest bond sale is stroking fears about weaker Eurozone economies’ abilities to repay their debts. The Spanish government hoped to sell 3.5 billion euros ($4.6 billion) in medium-term bonds, but only sold 2.6 billion euros worth.