| Slowdown, but not crash and burn
Britain is more vulnerable than America to a recession for four reasons. First, our economy is far more dependent on investment banking and other high-value financial and business services. So if the present banking crisis continues to deteriorate to the point where it tips the US into recession, the damage it does to Britain's fastest growing and most profitable industry will be even more severe. Secondly, house prices have risen much higher in Britain than they have in America. While Britain's banks may not have indulged the equivalent of America's "Ninja" borrowers (No Income, No Job, No Assets), the average level of mortgage debt here is higher than in the US. It seems probable, therefore, that house prices and cash released by mortgage borrowing will ultimately fall farther in Britain than in the US.
JAC member alleges harassment by police
At the meeting, PUDA had proposed to give Rs 7 lakh per acre to farmers as compensation for the land that was being acquired by the authority. The MLA said PUDA had acquired land falling under Jagatpura and Kambala villages some years ago. Farmers were given Rs 6 lakh per acre as compensation. He said later PUDA sold about 16 acres of the acquired land to the Railways as a railway line from Chandigarh to Ludhiana had to be laid. PUDA sold those 16 acres of undeveloped land, part of it falling in a choe, to the Railways for Rs 4.50 crore. The MLA argued that when PUDA could sell undeveloped land for Rs 28 lakh per acre, why were farmers only being given Rs 7 lakh per acre as compensation. He said he had recommended that farmers should be given a respectable amount (not less than Rs 28 lakh per acre) as compensation if PUDA had to acquire their land.
Economy-Economics- World
Stock Markets Plunge Worldwide (5 comments) Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession. U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week's market declines there circled through Europe, Asia and the Americas. Wednesday, January 16: NEW WORLD DISORDER: 7-year plan aligns U.S. with Europe's economy Rep Jim Costa, D-Calif, a member of the TPN advisory group, affirmed the target date of 2015 for the creation of a Transatlantic Common Market. The infrastructure would not require congressional approval and would integrate and harmonize administrative rules and regulations between the U.S. and the EU "in a very quiet way," without introducing a new free trade agreement to Congress.
STX Pan Ocean wins $273m coal shipping contract
SINGAPORE-LISTED STX Pan Ocean 028670.KS said the firm has won a contract to transport steaming coal worth $273 million. The South Korean dry bulk commodities shipper said that the 15-year deal, with Korea Southern Power Ltd, begins in 2011 and will be a stable source of profit for the company. -- REUTERS .
Absolute chaos as FTSE 100 tumbles
Absolute chaos today as the market effectively backed up the fears I raised in my article this morning. What made the moves so strange was that they happened on the back of absolutely nothing. No dramatic moves by the central banks, no surprising data from the Treasury or the Fed and no corporate news of note. Read more of Simon Denham .
Australian stock market closes lower after US dip and inflation ...
At the 4.15pm AEDT close, the benchmark S&P/ASX200 index was 1.6 points lower at 5980.0 while the All Ordinaries index fell 13.5 points to 6040.9. On the Sydney Futures Exchange, the March share price index futures contract was down 23 points to 5981 on a volume of 21,062, according to preliminary calculations. Today, the monthly inflation gauge prepared by TD Securities-Melbourne Institute rose by 0.6 per cent in December, and by 3.7 per cent in the 12 months to December. The annual reading was the highest since December 2006. On the local bourse, the big miners and major banks were weaker. In the resources sector, global miner BHP Billiton was down six cents at $38.24, and Rio Tinto was off 60 cents at $125.00. Takeover target Allegiance Mining slipped 0.5 cents to $1.045 as it said a recent vote of support from its largest shareholder, China's Jinchuan Group, was a sign of the strength of the relationship between the companies.
Hip-Hop Rumors: Did Wayne Really Get Boo'd? No New Girl For Scrappy!
All content within this section is pure rumor and generally have no factual info outside of what the streets have whispered in our ear. Read on. YESTERDAY'S RUMORS! Hip-Hop Rumors: Angel Lola Luv's Butt Confirmed Fake? Jim Jones and Max B Beefing? Diddy's American Idol? TODAY'S RUMORS! DID WAYNE GET BOOED OR NOT? In a recent report, by a newspaper they said that Lil' Wayne was forced to say sorry to the fine people of Richmond for a weird show that had him leaving early. Well, when he left, they reported that Weezy got booed. I am hearing that this wasn't the truth. Some people that were there told me that when Wayne left the stage, after that first half hearted, performance, the fans booed the DJ for playing music, kinda sending a message that the show was over.
Exchange Mergers Hit Roadblocks
As the rare players who benefit from wild and crazy financial markets, the two biggest U.S. financial exchanges — the CME Group (CME) and NYSE Euronext (NYX) — reported strong earning on Feb. 5. But record trading volume and profits arrive amid signs that the exchanges' aggressive expansion plans may be running into trouble. Market turmoil might put a strain on the economy and take big bites out of investors' portfolios, but the companies that run those markets benefit. "Whether people are selling or buying, there is activity on these exchanges," says Sang Lee, managing partner of the Aite Group, a consulting firm. The worry, however, is that exchanges' attempts to expand rapidly — across the world and to include the trading of all sorts of assets, from equities to exchange-traded funds and derivatives — is meeting resistance.
New Jersey man missing in Breckenridge
Search and rescue members called off the search at dark Saturday night with expectations to widen the search at first light on Sunday.
Breckenridge police issued a release saying Barbiere, of Wyckoff, N.J., was highly intoxicated when he left into a blizzard early Friday morning, according to his friends. Barbiere, a white man with brown hair and brown eyes, then headed north on Main Street wearing a black and gray ski jacket, jeans and tan boots.
At 12:22 p.m. on Friday, Barbieres friends and family, who chose not to speak publicly, reported the young man missing. Five hours later when they still had not heard from him, police began the search. Barbieres family and friends quickly joined the effort, distributing flyers with his picture in bars and restaurants across town.
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