Free Republic

FARMINGTON – Services were Monday in Albuquerque for international energy industry expert and Farmington Daily Times columnist Dr. Daniel Fine, 88, who died Sept. 26 in a Miami hospital following complications due to a surgical procedure, his son, William Fine, said. Fine, widely acknowledged as an expert in world energy markets and geopolitics, was held in high esteem by many state and regional business leaders. He had been set to give a lecture alongside local businessman T. Greg Merrion in Farmington last month. “He was pretty great at getting a read at what was coming down the pike,” said Merrion,...

President Barack Obama says he doesn’t feel threatened by the fact that other countries, led by China, are investing in Africa. In fact, Obama says the more countries that come to Africa, the merrier. … But he cautions that Africa must be wary of outside investment and always ask how it will benefit when other countries come seeking its natural resources or to make other investments. …

A privately-owned Chinese company is finalizing the acquisition of an Australian mining firm that controls a major iron ore mine in west Africa, a move that would give China a stronger role in setting global iron ore prices, China’s official Xinhua News Agency reported Saturday. … As the world’s second-largest economy, China is eager to acquire overseas assets and resources to feed its rapid growth. …

Hong Kong Exchange & Clearing has paid £1.4 billion for the London Metal Exchange, a company which makes £11.2 million operating profit—a multiple of more than 124 times. Even Facebook only managed a multiple of 76 times when it floated, and look what's happened to that. Clearly HKEx is desperate to buy LME, which is very good at what it does, and has basically agreed to pay any price necessary. Why? On a mundane level, of no concern to you or me, it can now ramp up the fees it charges investment banks and the like to become members of...