UPDATE 2-China, Singapore wealth funds invest $1 bln in US LNG export plant-source

HONG KONG, Aug 21 (Reuters) - The sovereign wealth funds of China and Singapore have invested a combined $1 billion in a U.S. plant that will export cheap liquefied natural gas (LNG) to Asia, a source said, becoming the latest Asian institutions to tap into the gas boom in the United States.

Iron Ore Heiress Cashes in on Coal, Dodging 30% Decline

Iron ore magnate Gina Rinehart, Asia’s richest woman, is also no slouch when it comes to making money from coal, selling most of her assets for $1.26 billion before the worst price slump for the fuel in four years.

Europe Crisis Imperils U.S. Sales From Chemicals to PCs: Economy

American exporters from Dow Chemical Co. (DOW) to Hewlett-Packard Co. are preparing for a further decline in demand from Europe as the region’s deepening debt crisis threatens to derail a source of strength for the U.S. economy.

U.S. Economy’s Challenges Greater This Year Than Last, Gluskin Sheff Says

David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates Inc., said the U.S. economy faces more challenges in 2012 than last year, while he backed away from his prediction the nation was facing a near- certain recession.