| Australian stock market firmer at noon, led by resources
THE share market was up almost 2 per cent at noon following a strong start to morning trade, after the US capped off its best week in five years on Friday and speculation mounted over the future of market leader Rio Tinto. At 12.07pm AEDT, the benchmark S&P/ASX200 was up 107 points, or 1.83 per cent, at 5949.9, while the broader All Ordinaries lifted 112.9 points, or 1.92 per cent, to 5995.2. At 12.08 pm AEDT on the Sydney Futures Exchange, the March share price index contract was up 161 points, or 2.79 per cent, at 5939 on 16,887 contracts. ABN AMRO Morgans senior equities adviser Geoff Voller said retail trading volumes were light. Mr Voller said the resource sector was strong on the back of news China's biggest aluminium producer, Chinalco, and US group Alcoa had jointly bought a 12 per cent stake in Rio Tinto on Friday.
Heard on the street: Parsvnath Developers, IFSL, F&O segment
Are you a Sai Baba devotee who also happens to be stock market investor? If yes, you may have possibly taken a fancy for Parsvnath Developers which has just bagged a contract for constructing Sai Ashram at Shirdi in Maharashtra. The counter has been in the thick of action ahead of the company's announcement on Monday.
Though the price has moved sharply, analysts feel one can not really link the rally with the latest development. They, in fact, say the market has probably been discounting the progress that the company has achieved in some of its projects — besides the Shirdi contract — an IT park in Gurgaon and pharma SEZ in Nanded.
Parsvnath Developers was the one of the top gainers, ending 8.5% up at Rs 574.2 on Monday after touching a new peak of Rs 598 intra-day.
Olbermann Accuses 'Fascist' Bush of Engaging in 'Terrorism'
The debate is over, & if you don't agree, you are a hate monger. The Weather Channel's Heidi Cullen wanted to strip TV meteorologists of the AMS certification if you don't buy into "GW" lock, stock, & barrel. Just 1 easy example. "Some of us are wise, some of us are otherwise" Mark Levin .
USD/CAD May Find Parity Once Again As Canadian Data Provides Event ...
NZ Retail Sales Data May Decide. Feb 13 - AUD/USD May Target 0.9100 As Labor Market Data Supports Hawkish RBA Feb 12 - GBP/USD Upside Risk Looms Ahead of BOE Inflation Report and US Retail Sales Feb 11 - Euro: ZEW Investor Survey Likely To Reflect Bearish Sentiment in FX, Equities Feb 08 - GBP/USD May Climb As Inflation, Trade Data Highlight BOE's Conundrum Feb 05 - USD/CAD: Ivey PMI May Signal Weak Jobs Data, Possible Rate Cut by the BOC? Feb 07 - USD/CAD May Find Parity Once Again As Canadian Data Provides Event Risk Feb 06 - Euro: Traders Are Betting On Dovish ECB Rhetoric - What If They're Wrong? Feb 04 - The RBA May Hike, But Will AUD/USD Rally In Response? Not Necessarily. Feb 01 - Australian Data May Set the Stage for 25bp Rate Hike by the RBA On Monday Jan 31 - EUR/USD: Manufacturing Data May Confirm Slowing Global Growth Jan 29 - Will the Fed's Rate Decision Support EUR/USD, Treasuries, and the Dow? Jan 30 - Will the Release of US Q4 GDP Curb Expectations for a 50bp Fed Rate Cut? Jan 28 - US Dollar: Consumer Confidence May Highlight Poor 2008 Spending Outlook Jan 25 - US Home Sales May Set the Stage for the Fed Rate Decision - Will They Cut? Jan 23 - US Housing Data May Exacerbate Recessions Fears, Lead Dollar Lower .
BHP Billiton raises Rio Tinto takeover offer
BHP Billiton has launched an improved takeover offer for rival Rio Tinto that will create the largest diversified resources company in the world. BHP Billiton, which had until Wednesday London time to formalise its bid for Rio Tinto under UK law, announced an offer of 3.4 of its shares for every Rio share. The offer is an improvement on an informal three for one approach made late last year. Rio Tinto has acknowledged the improved bid and says it will consider the new proposal carefully.Chief executive Marius Kloppers said during a teleconference that the company's offer for Rio Tinto remained "compelling".BHP Billiton said its offer - which values the target at about $US147 billion ($163 billion) - represents a 45 per cent premium to the Rio Tinto share price prior to the approach.
Stranger Than Fiction
The following is an excerpt from commentary that originally appeared at Treasure Chests for the benefit of subscribers on Wednesday, October 3rd, 2007. A week ago if you would have told me past a muted quarter end window dressing related 'jam job' the funds were going to push prices to either new or recovery highs in a multitude of markets I would have said 'not likely', but that's exactly what happened. But then that's what happens in a surreal world where reality has become stranger than fiction. Moreover, that's what happens when our social elite condones the systematic destruction of our financial system in hyperinflation. That's the fact Jack. And anyone who thinks different should provide a better answer for why gold is going parabolic than the clever buffoons on CNBC last Friday rejoicing the phony inflation numbers that justify another rate cut for complicit fraudsters.
Ex-WDIV anchor charged with embezzlement
The charges stem from checks cashed between August-November 2006 at a check cashing business in Oakland Countys Royal Oak Township, just north of Detroit, Cibor said.
Her lawyer, Carl Marlinga, said Wednesday that Wangler denies the charges.
The money had been drawn from the account of Les Pingilley of Woodhaven. He briefly dated Wangler and hired her as his financial adviser, WXYZ-TV in Detroit first reported last week.
Pingilley said he entrusted his savings and money from a divorce settlement to Wangler, who was licensed to sell annuities, The Detroit News reported Wednesday.
Wangler retired from her news anchor job at WLAJ last week, the Lansing State Journal reported. She worked there under the name Suzanne Page.
Wangler accepted about $52,000 from Pingilley to make up for about $17,000 she lost in commission when he cashed in an annuity and to help keep her Royal Oak home out of foreclosure, Marlinga said.
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