Spending committed by mining and energy companies to start or expand projects fell 14.6% to US$212bn at the end of April from $248bn a year earlier. That is a $36 billion drop.
Grins were on the faces of China National Petroleum executives this week as they celebrated a blockbuster 30-year deal for Russian gas. For some, however, those grins could soon turn to grimaces.
Austria, unnerved by Germany's experience with the US Fed and mindful of Brown's Bottom, is sending auditors to London to verify existence of its bullion reserves.