| MARKET SNAPSHOT: U.S. Stocks Pare Gains; On Track For Weekly Gains ...
U.S. Stocks Pare Gains; On Track For Weekly Gains, Monthly LossesZaterdag 01 December 2007 03:37 By Kate Gibson U.S. stocks ended November with weekly gains and monthly losses, with the Dow scoring its third-largest weekly jump so far this year, as technology bellwether Dell Inc.'s shaky forecast weighed on the Nasdaq, offsetting the market's warm response to Federal Reserve talk suggesting further interest-rate cuts ahead. Federal Reserve Chairman Ben Bernanke 'hinted as much by placing significant emphasis on the recent deterioration in consumer spending and on signs of softening in labor market conditions, as well as financial conditions, which appear to have sealed the deal on a rate cut and raised the possibility of 50-basis point cut,' said Tony Crescenzi, chief bond market strategist for Miller Tabak & Co.
Police raid ''rogue'' trader's flat
Jan. 26 - Officers search Jerome Kerviel's Paris apartment, the ''rogue'' trader believed to be behind a dealing scandal at French bank Societe Generale. Societe Generale has still not named the dealer who lost 7.18 billion dollars in fraudulent trades but Kerviel's name surfaced within hours of the announcement on Thursday (January 24) and has been confirmed by banking sources. Police have established that Kerviel is in Paris and available for questioning. The French capital's chief prosecutor said he will be questioned as soon as documents provided by Societe Generale have been analysed. Michelle Carlile-Alkhouri reports. .
The Hanging Church
In the Nile Valley, near Sohag, the White (Deir El-Abyad) and Red (Deir Amba Bishoi) monasteries make fascinating day trips. The former was built in 400 AD using white limestone from a Pharaonic temple. The latter has a 1,000-year-old icon and some interesting frescos and houses St. Bishoi's preserved body. Each year in July, the tube containing the body is carried in procession. Men need permission to stay overnight; women are generally not permitted. Egypt is also home to a number of impressive convents. One of the most prominent is the Convent of St. Demiana and the Forty Virgins in the Delta, 200 kilometers northeast of Cairo. It is a huge building where 80 eremitic nuns currently live (tel: (050) 288-0007/008/034/763). Demiana was the daughter of the governor of the Borrolous, Zaafarana and Saisaban regions, and, brought up as a Christian, she decided at the age of 15 that she wanted to be the bride of Christ.
GM plan lifts stock price
Stock in the 100-year-old automaker rose on the announcement by GM's top executives that the company plans to extend buyout and retirement offers to 46,000 workers who are eligible to retire in February. GM is expected to offer packages to its entire workforce at some point. Wagoner also acknowledged that a worse-than-expected U.S. automotive market could prompt further plant closings in North America. While some analysts expressed concern that GM continues to hold too rosy a view of the 2008 market, the reaction was much more positive than at the beginning of GM's current restructuring plan in 2005, when there was widespread concern that the automaker wouldn't last to see its centennial. Instead, even those analysts who say GM should be cutting faster, more or sooner say the automaker appears now to be in a sustainable position, thanks to continuing restructuring plans in North America and Europe and plans for growth in emerging markets.
NYMEX Sets Gold Futures Open Interest Records
NEW YORK, Sept. 28 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE: NMX) , today announced that its gold futures contract reached record open interest levels for the fourth consecutive day this week. On Thursday, the open interest in the gold futures contract peaked at 443,765 contracts, after setting records on September 24, 25, and 26, surpassing the previous record of 425,688 contracts set on May 29. Forward Looking and Cautionary Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results.
Kirby Corporation 2007 Fourth Quarter Net Earnings to Exceed Published ...
HOUSTON, Jan. 14 /PRNewswire-FirstCall/ -- Kirby Corporation ("Kirby") (NYSE: KEX) announced today that it expects its 2007 fourth quarter net earnings to exceed $.62 per share, above the top end of Kirby's earnings guidance of $.57 to $.62 per share, and substantially above 2006 fourth quarter earnings of $.44 per share. Joe Pyne, Kirby's President and Chief Executive Officer, commented, "As we enter 2008, both our core businesses remain strong and we expect our positive earnings trend to continue. We will address the 2008 first quarter and year guidance as part of our 2007 fourth quarter and year results to be released at 5:00 p.m. central time on Wednesday, January 30, followed by our conference call at 10:00 a.m. central time on Thursday, January 31, 2008." Kirby Corporation, based in Houston, Texas, operates inland tank barges and towing vessels, transporting petrochemicals, black oil products, refined petroleum products and agricultural chemicals throughout the United States inland waterway system.
Pakistan, Iran to sign GSP pact in Tehran next week
ISLAMABAD: Pakistan and Iran may sign the Gas Sales Purchase Agreement (GSPA) in Tehran in last week of the current month on Iran-Pakistan-India (IPI) gas pipeline project, sources told Daily Times here on Thursday.
Sources said that Iran has proposed February 24 to sign GSPA on IPI gas pipeline project in Tehran after the general elections in Pakistan. Earlier, Pakistan had proposed January 25 to sign GSPA on IPI in Abu Dhabi but Tehran declined to sign it in Abu Dhabi. Tehran told Pakistan that it wanted to sign agreement in Tehran with the new Pakistani elected government.
Sources said that draft of GSPA on IPI is ready to be signed by both Pakistan and Iran as Pakistani law ministry has vetted the draft of the agreement. Sources added that India was playing tactics with Pakistan to delay the signing of GSPA on IPI between Pakistan and Iran.
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