| Asian Stocks Hit; Goldman Warns Of US Recession
Asian shares fell on Thursday on worries about global growth after Goldman Sachs forecast a U.S. recession this year, while bond prices hit a two-year high and the dollar gained against sterling. But financial bookmakers forecast a strong start for European stocks, with Paris' blue-chip CAC-40 seen up between 46 to 54 points and Britain's FTSE 100 expected to add 37 to 41 points after late gains on Wall Street on Wednesday. Oil prices edged up in Asia after falling during the U.S. day on the Goldman Sachs report of a looming U.S. recession that could crimp demand in the world's largest energy consumer. The dollar held near a nine-month high against sterling on expectations of a rate cut by the Bank of England later in the day amid growing concerns about the global economic outlook.
Financed by the Bank of Ma and Pa
It is almost impossible for anyone under 40 today to get get enough money for a down payment on a house unless they make a six-figure salary - and how many do? Remember, these are the people who are going to be looking after baby boomers in their old age. If they can't afford to make a decent living, have a place of their own and manageable debt, they might not support the elderly. Posted 12/02/08 at 10:18 AM EST | Alert an Editor | Link to Comment .
BHP ups takeover bid for Rio Tinto to $147bn
BHP Billiton increased its bid for Rio Tinto last night but failed to offer more than what Chinalco, China's state-owned aluminum giant, paid in a dramatic share swoop on the company last week. Marius Kloppers, head of BHP, yesterday formalised what would be one of the world's largest ever takeovers by offering 3.4 BHP shares for each Rio share, or about $147bn (£75bn) – up from the three-to-one ratio that it first offered for its smaller rival in November. The bid is conditional on receiving approval from 50 per cent plus one of Rio's investors. Mr Kloppers said that the fate of his bid to forge the world's first mining super-major was now in the hands of Rio's shareholders after he was repeatedly spurned by the Rio board. "The way we look at it, we were proactive in unlocking value for Rio shareholders, and they will now be asking why the Rio board is not allowing them to realise this substantial uplift." Rio noted the offer, but chairman Paul Skinner urged shareholders to "take no action".
Whites crash in basement battle
The home side went into the lead after just 13 minutes when Jones' pass found Kieran Richardson and the former Manchester United winger made no mistake with a fine finish. The lead was doubled when Jones powered home Richardson's corner, before El-Hadji Diouf reduced the deficit with a free-kick. Diouf fired wide after Nicolas Anelka's flick in the second-half, before Sunderland sealed victory when substitute Daryl Murphy slotted home in the 90th minute. Wanderers had plenty of possession, but struggled to create many chances and will hope to bounce back to form when Derby visit the Reebok on Wednesday. For a full match report, and all the reaction see Monday's The Bolton News 9:13pm Saturday 29th December 2007 Print Email this Comment .b_box { border: 1px solid #D7D7D7; background-color: #EEEEEE; color: #000000; padding: 5px; width: 307px; } .b_box img { border: 1px solid #D7D7D7; padding: 5px; background-color: #ffffff; } .b_box a, .b_box a:visited .b_box a:active { color: #000000 !important; } .b_box a:hover { color: #FF0000 !important; } .msg_div { padding: 0px; width: 307px; clear: left; } .entry { border-left: 1px solid #D7D7D7; border-right: 1px solid #D7D7D7; padding: 5px; width: 307px; } .entry2 { border-left: 1px solid #D7D7D7; border-right: 1px solid #D7D7D7; padding: 5px; min-height: 80px; } .b_entry { border-left: 1px solid #D7D7D7; border-right: 1px solid #D7D7D7; border-bottom: 1px solid #D7D7D7; padding: 5px; width: 307px; } fieldset { margin-top: 10px; border: 1px solid #D7D7D7; margin-left: 0px; margin-right: 0px; padding: 0px; } legend { padding: 2px 6px; color: #000000; background: #EEEEEE; border: 1px solid #D7D7D7; font-weight: bold; margin-left: 10px; } .headcell { text-align: center; color: #000000; background: #EEEEEE; border-bottom: 1px solid #D7D7D7; } .headcell a:link, .headcell a:visited, .headcell a:active { color: #000000; } .headcell a:hover { color: #FF0000; } .caltab { border: 1px solid #D7D7D7; margin-top: 5px; } .year_daycell { text-decoration: underline; text-align: center; } .year_fullcell { background: #EEEEEE; border: 1px solid #D7D7D7; } blockquote { border: 2px outset #D7D7D7; } .buttonclass { background: #EEEEEE; color: #000000; } .
Earnings roundup: Campbell, Hormel
CAMDEN, N.J. (AP) _ The Campbell Soup Co. said Friday its second-quarter profit slipped 3.9 percent as increases in the cost of commodities and energy and higher promotional spending offset a strong sales increase. MINNEAPOLIS (AP) _ Hormel Foods Corp. said strong sales of Spam and a recovery in its turkey business boosted first-quarter earnings by 17 percent. Other stories: DULUTH, Minn. (AP) _ Allete Inc.'s profit slipped 2 percent in the fourth quarter as flagging property values in Florida dragged the value of the power company's real estate, the company said Friday. NEW YORK (AP) _ Greek drybulk shipper Diana Shipping Inc. said Friday its fourth-quarter earnings surged 87 percent on higher charter rates and an expanded fleet, but the results still narrowly missed Wall Street's expectations.
As world economies get depressed from the ripple effect of US ...
The US Dollar is forming a long term base. The major US rate cut is behind us. It is time for the ECB to cut rates. The Bank of England will also cuts rates. The economic depression in US and financial meltdown is already built into US Dollar index. The next wave of rate cuts will start in Europe. The Chinese and the Indian currencies will appreciate against US Dollar. But they are not part of the US Dollar index. Other than Yen, all the currencies may fall against dollar in the several years. A very long term bottom is in place in US Dollar. The Dollar index currently trades around 75.50. It can rally 15% in the next nine months to reach 87.00. While trading US Dollar index the best strategy is to opt for futures and options arbitrage. For example buying US Dollar index futures, selling an in the money call on the same and buying a distant put on the future can be ideal.
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