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Money Is There to Aid Rural Internet, but Loans Are Hard to Get
Across rural America, people say they are frustrated with a loan program created by Congress to extend Internet service.
Gold above $500 in Asia
Reuters - Gold topped $500 an ounce in Asia on
Tuesday for the first time since December 1987 as dealers said
funds had diversified into precious metals on worries about
inflation and geopolitical tensions.
Gold surges to highest since 1983
Gold prices surge past the $500-an-ounce mark, and more gains are predicted amid fears of quicker inflation.
Argentina replaces economy boss
Argentina replaces Economy Minister Roberto Lavagna, the man widely credited with steering the country out of a hard-hitting recession.
P&O agrees bid from Dubai Ports
Ports and ferries group P&O agrees to be bought by Dubai Ports World in a takeover deal worth £3.3bn ($5.7bn).
Warm US weather cuts oil price
Oil prices fall sharply due to unseasonably mild winter temperatures in the northern states of the US.
Search begins for World Bank's No. 2 spot
Reuters - World Bank President Paul Wolfowitz
has appointed a committee to find candidates from developing
countries for the bank's No. 2 position, a step intended to
open up a traditionally closed decision-making process for top
officials.
Ahold to split US Foodservice
Reuters - Dutch retailer Ahold
reported third-quarter operating income in line with
expectations on Tuesday and said it would split its U.S.
Foodservice operations in two and cut $100 million in costs.
OECD warns on eurozone rate rise
Interest rates in the eurozone should not rise until its economic recovery gathers pace, the OECD warns.
Kingston stays quiet on bid talks
Kingston Communications reports a 22% rise in first-half earnings but gives no update on bid talks.
Overhaul for Firefox web browser
A big marketing push is planned for the latest version of Firefox, the main rival to Microsoft's Internet Explorer.
China to maintain 'rapid growth'
The OECD calls on China to let the yuan appreciate further as it says the country's strong growth is set to continue.
Warning on eurozone rate rise
Interest rates in the eurozone should not rise until its economic recovery gathers pace, the OECD warns.
Better times for Japan economy
Japan's improving economy is underlined by a number of reports, despite some figures missing market expectations.
Stock futures rise before confidence data
Reuters - U.S. stock futures pointed to a higher
market opening on Tuesday amid expectations that data would
show an increase in U.S. consumer confidence and orders for
durable goods.
US economic growth seen solid: OECD
Reuters - U.S. economic expansion is solid despite
this year's devastating hurricanes and will continue at or
above its trend rate in 2006, but the inflationary impact of
soaring oil prices remains a key risk, the OECD said on
Tuesday.
Gold backs off after breaking $500
Reuters - Gold rose above $500 and platinum above
$1,000 an ounce on Tuesday when investment funds diversified
their portfolios on worries about inflation and geopolitics.
Eurozone economy heads for 'moderate recovery': OECD
AFP - The OECD predicted that the eurozone economy is set to enjoy a "modest recovery" in coming years, lifting its growth forecasts for the 12-nation bloc to 1.4 percent this year and 2.1 percent next year.
Ahold Posts Loss in 3Q on Charge
AP - Royal Ahold NV, the global retailer that owns the Stop & Shop and Giant supermarket chains in the United States, posted a third-quarter loss of 239 million euros ($280.7 million) on Tuesday, including a 585 million euro ($687 million) charge for a settlement with shareholders who lost money because of Ahold's 2003 accounting scandal.
Durable orders up as aircraft soar
Reuters - New orders for U.S.-made durable
goods jumped a larger-than-expected 3.4 percent in October on a
surge in demand for aircraft, but non-transportation orders
rose a smaller-than-expected 0.3 percent, a government report
showed on Tuesday.
Calpine replaces CEO, CFO
Reuters - Calpine Corp. on Tuesday
replaced its chief executive and chief financial officer in a
move the independent power producer said was intended to
address its financial problems.
Stocks gain before confidence data
Reuters - Stocks rose on Tuesday, amid
expectations data would show an increase in U.S. consumer
confidence and help the holiday season outlook.
Mortgage limit raises to $417,000
Reuters - U.S. mortgage finance regulators on
Tuesday raised the limit for loans that can be bought by
government-sponsored mortgage enterprises Fannie Mae and
Freddie Mac to $417,000 for 2006, in most areas.
Durable Goods Orders Rebounded in October
A surge in sales of military and commercial planes drove demand for durable goods in October even as other industries reported softer than expected orders.
Cheaper fuel boosts US shoppers
US consumer confidence leapt in November, boosted by falling gasoline prices and improved job prospects, a report says.
Gazprom threatens gas price hike
Russian gas price rises look set to sour relations between Moscow and several former Soviet Union nations.
US net body challenged over .com
The body which oversees the workings of the internet is been sued over its handling of the .com domain.
Consumers more optimistic
Reuters - U.S. consumer confidence picked up
considerably in November as Americans took comfort from falling
gasoline prices and better job prospects, according to a report
published on Tuesday.
Home sales hit new record
Reuters - New U.S. home sales hit a new record
in October, while durable goods orders rose by 3.4 percent as
aircraft demand surged, but non-transportation orders were
barely changed, data on Tuesday showed.
Calpine replaces top executives
Reuters - Calpine Corp. on Tuesday
replaced its chief executive and chief financial officer, as
the independent power producer struggles with a $17 billion
debt load and a recent court ruling that restricts its ability
to buy fuel for its plants.
Stocks up after confidence data
Reuters - U.S. stocks were solidly higher on
Tuesday after better-than-expected consumer confidence and new
home sales data boosted investors' hopes about household
spending for the holidays.
New home sales surge
Reuters - Sales of new U.S. homes shot up
unexpectedly in October, climbing 13 percent to hit a record
pace, according to a government report on Tuesday at odds with
other signs of a slowdown in the long-hot housing market.
India's Prime Minister Sees Economy Growing
AP - India's economy will grow 7.5 percent this fiscal year and the expansion could accelerate to 10 percent in the next two to three years because of stronger growth in agriculture, Prime Minister Manmohan Singh said Tuesday.
Variable Annuities: Yea or Nay?
The Motley Fool - Annuities. Insurance salesmen often push these mutual fund-like instruments (which generate hefty commissions), but although there are now some annuities out there that are more attractive than those of yesteryear, they usually aren't the wonder-investments they're cracked up to be. Here are some reasons why:
Ahold's profits surge
Reuters - Ahold beat forecasts as third-quarter
profits more than doubled, helped by higher margins and cost
cuts, and the Dutch retailer announced a split of its U.S.
Foodservice unit, sending its shares higher.
Total settles Burma 'forced labour' case
Total agrees to compensate Burmese workers who claimed they were used as forced labour on a pipeline project.
Stocks rise on strong economic data
Reuters - U.S. stocks gained on Tuesday after
stronger-than-expected consumer confidence data lifted hopes
about holiday spending, while a rise in orders for the largest
manufactured goods boosted industrial stocks, including
aircraft maker Boeing Inc.
Frontier Air could face cash crunch
Reuters - Frontier Airlines Inc. ,
gearing up for stiffer competition at its Denver hub from
low-cost power Southwest Airlines , on Tuesday warned
investors that it faces a potential cash crunch that could
jeopardize its business.
Gold hits $500 amid inflation fears
Reuters - Gold spiked above $500 an ounce for the
first time in 18 years on Tuesday and platinum surpassed
$1,000, the highest in more than two-and-a-half decades, fueled
by heavy fund buying.
Sales of New Homes Stay Strong in October, Setting Record
Two other reports showed a sharp rise in consumer confidence this month and higher orders for big-ticket goods in October.
Conrad Black court date put back
Court proceedings against Conrad Black are pushed back to 1 December, at the request of the media tycoon's lawyers.
Better times for Japanese economy
Japan's improving economy is underlined by a number of reports, despite some figures missing market expectations.
Time Warner dissidents hire Lazard
Reuters - A dissident group of Time Warner Inc.
shareholders led by billionaire investor Carl Icahn
said on Tuesday it retained investment bank Lazard Ltd.
to study "options" for the media conglomerate and propose a new
slate of board candidates.
Tech stocks slip as Apple drop weighs
Reuters - U.S. technology shares fell on Tuesday
as investors sold off such shares as Apple Computer Inc.
following their recent run-up.
October home sales hit record
Reuters - The U.S. economy shook off much of its
post-Katrina blues in October as new home sales hit a record
and booming demand for aircraft helped reverse September's
sharp decline in durable goods orders, data showed on Tuesday.
Gold rallies above $500, profits taken
Reuters - Gold spiked above $500 an ounce for the
first time in 18 years on Tuesday but ended in New York trade
just below the psychological threshold as investors quickly
claimed their reward after weeks of fervent buying.
Pensions blueprint to be unveiled
A rise in the value of the state pension and the age at which it is paid are set to form part of radical reform proposals due to be unveiled.
Most corporate fraud found by luck: study
Reuters - Despite tough regulations aimed at
improving corporate governance, financial fraud is still on the
rise around the world, and most is still detected by chance, a
study from auditing firm PriceWaterhouseCoopers (PWC) showed on
Tuesday.
TiVo loss narrows; shares fall
Reuters - TiVo Inc. on Tuesday
posted a narrower quarterly loss as the provider of digital
video recording services added more subscribers through its
relationship with DirecTV, but shares fell as the number of
subscribers it added on its own declined from a year ago.
US judge to rule on Samsung plea
Reuters - A U.S. District Court judge on
Wednesday will decide whether to accept a plea agreement in
which Samsung Electronics Co. admits to conspiring with other
firms to fix the prices of computer memory chips that use
technology from Rambus Inc, court records show.
Delphi gains OK to pursue supplier plan
Reuters - Auto parts maker Delphi Corp. on
Tuesday won bankruptcy court approval to pursue a plan to pay
some prebankruptcy bills owed to key suppliers in exchange for
extending contracts set to expire at the end of the year.
Stock Fund Inflow Slowed Again In Oct.
Investor's Business Daily - Investors slowed purchases of stock funds in October as the market took its time recovering from a sharp, early-month stumble.
Economic Memo: Upbeat Signs Hold Cautions for the Future
By most measures, the economy appears to be booming, but as always with the United States economy, it is not quite that simple.
Icahn Finds Ally in Bid to Change Time Warner
Carl C. Icahn, who is leading a group of investors in a campaign against Time Warner and its board, has hired Bruce Wasserstein to advance the fight.
Sales Climb at Retailers on Internet
Shoppers, intent on skipping crowded stores, spent 26 percent more money online over the Thanksgiving weekend than they did in 2004.
Advertising: Go Ahead and Splurge on Someone Who Really Deserves the Best
Some retailers are playing to one of the holiday season's guilty pleasures: shoppers indulging themselves.
A Warning of Trade Suits Over Farming
A failure by the U.S. and the European Union to reduce agricultural subsidies in trade talks in Hong Kong could bring a slew of legal challenges.
Market Place: How to Generate Alpha in a Predominantly Beta World
Money managers have been stepping up their search for Wall Street's holy grail: an investment that consistently generates 'alpha.'
Lawyer Tells 3rd Vioxx Trial That a Month's Use Was Fatal
The lawyer argued that taking Vioxx for a month was enough to cause a man's fatal heart attack.
Dubai to Buy P&O, British Shipping Line, for $5.7 Billion
Dubai, the upstart sheikdom of the United Arab Emirates, agreed to purchase the storied British shipping company Peninsular and Oriental Steam Navigation.
Shares Finish Mixed as Rate Concerns Dampen Rally
By The Associated Press.
A Secure Old Age in Australia From Investments Abroad
The Australian government plans to use funds from several years of budget surpluses to pay pensions owed to its employees in the future.
Energy Producer Changes Its Top Executives
By Reuters.
Plan to Put Company Reports on the Web
Corporations would be allowed to post proxy statements and annual reports on Web sites under a plan proposed by federal regulators.
Wachovia to Sell 2 Businesses
CHARLOTTE, N.C., Nov. 29 (AP) - The Wachovia Corporation said Tuesday that it planned to sell its trust and custody businesses to U.S. Bancorp for $720 million.
Chief of Russian Utility Warns of Possible Winter Blackouts
Moscow could face rolling blackouts during periods of extreme cold this winter, the head of the electricity monopoly said Tuesday.
Redskins Boss Close to Running Six Flags
By Bloomberg News.
New Package Deals Urged for Cable and Satellite TV
The chairman of the Federal Communications Commission proposed that companies provide customers with more choices to reject some channels.
Media Deals Expected for Intel
Intel is expected to announce partnerships with movie, music, and game providers to introduce content that would work with its Viiv technology for home media centers.
Overhaul of Linux License Could Have Broad Impact
The rules governing the use of most free software programs will be revised for the first time in 15 years, in an open process that begins Tuesday.
Lawyer Denies Hollinger Fraud
Mark Kipnis, a former counsel at Hollinger International, pleaded not guilty to charges of helping Conrad M. Black steal $51.8 million from the company.
Fox Reaches Five-Year Deal With Star of 'American Idol'
Fox's contract with Simon Cowell of 'American Idol' means that the network will keep intact the elements of the show.
By the Hour, Your Chariot Awaits
Imported from Europe by a group of environmentally conscious entrepreneurs, the concept of renting cars by the hour has become increasingly popular.
U.S. Is Urged to Raise Rates
The Organization for Economic Cooperation and Development said that the Federal Reserve should keep raising interest rates.
Ahold Plans to Split U.S. Foodservice
Royal Ahold, which agreed to pay $1.1 billion to settle a long-running accounting scandal, announced a split of its U.S. Foodservice unit.
Downtown's Boosters Say Bargain Rents Won't Last
Downtown Manhattan today is much like Times Square in the mid-1990's, argues Kent M. Swig, the president of Swig Equities, which owns four office buildings in the financial district and has contracted to buy another.
Attention All Employees: Ford Is Serious About Change
Ford's chief executive told employees that those who could not support the company's drive for innovation should find something else to do.
PepsiCo Earnings Outlook
By Reuters.
Square Feet: Sporting Goods and Its Own Business Model
Cabela's, a shopping amusement park for the hunting and fishing set, serves as a retail magnet for small towns.
Gold below $500 in Asia
Reuters - Gold breached key support of $498 an
ounce in Asia on Wednesday as investors booked profits after
propelling the price to its highest level in 18 years above
$500 the previous day.
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