Mar 18, 2010
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From the Desk of Nick Nicolaas (FDNN) #85
March 18, 2009
Dear Friends, here again is Henk Krasenberg:
MINING IN AFRICA
a publication of
E U R O P E A N G O L D C E N T R E
a publication of
E U R O P E A N G O L D C E N T R E
Here is your March issue of MINING IN AFRICA, full of interesting information. Under the heading "Africa welcomes the world and it's not all about the 2010 World Cup", my EDITORIAL COMMENT elaborates on the attention span that we will see for Africa this summer but also about the attention that investors have for Africa's natural resources. The FEATURED ARTICLE "How are Australian Companies in the African Resource Sector coping with the Global Downturn" by economist Roger Donnelly is an excellent essay about this.
In this issue UPDATE REPORTS on two SUPPORTING COMPANIES; both have reached a stage where they have considerably enhanced the prospects for achieving their goals with their principal project. It shows that persistence and good management pays off in time. Furthermore, as always, COMPANY NEWS, EVENTS ON AFRICA and AFRICAN MINING NEWS with noteworthy information.
Wishing you enjoy reading this issue!
Henk J. Krasenberg.
Regards from Vancouver and as always - - Stay Tuned!!
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Stay tuned for the most recent updates on leading junior exploration companies through the MiningInteractive Video & Radio Interviews.
Mining Interactive Web Site
For more information contact
Mining Interactive Corp.
"Ahead of the Pack"
|Nick L. Nicolaas |
Personal Finance Daily
MARCH 18, 2010
Thursday's Personal Finance stories
- Loan-modification program deeply flawed
- New test screens for deadly cancer
- Investors depart money-market funds
If only it were so.
Read the second installment of our story to find out why the Gentrys, and millions more like them, are highly unlikely to find payment relief under the program. Here's a big hint: Lenders don't really have much incentive to approve these deals.
-- Andrea Coombes , Personal Finance editor
Mortgage-modification program has major flaws
Marianne Gentry learned her home was in foreclosure from a recorded message from her bank. So she and her husband and son packed their belongings, expecting to get kicked out any day.
See story on mortgage-modification program has major flaws.
Mortgage rates essentially flat for the week
Rates on fixed-rate mortgages moved very little this week, with 30-year fixed-rate mortgages averaging 4.96%, according to the latest Freddie Mac survey of conforming mortgage rates, released Thursday.
Testing for ovarian cancer
Vermillion's Dr. Eric Fung discusses the first FDA-approved blood test to help determine if women's ovarian masses are cancerous before they have surgery.
Watch Video Report.
Keeping older drivers safe
No one wants to give up their keys, but there are ways doctors can help manage their older patients' health so they can stay on the road -- and independent -- longer. MarketWatch's Kristen Gerencher reports in this week's Health Minute.
Watch Health Minute.
Health-bill savings touted as vote nears
President Barack Obama and top House Democrats touted billions of dollars in savings expected from the House health-care bill on Thursday, as the president again postponed a foreign trip to witness a historic vote on his No. 1 policy issue.
See Capitol Report.
Money-market fund assets slide
Total assets in money-market funds have fallen below $3 trillion for the first time since late 2007, as higher federal fund rates coaxed investors back into the broader market.
Money markets may reclaim fees
Money-market mutual funds are waiving management fees because yields are so low that charging anything would hit shareholders with a loss. But once yields rise, many funds will want their money back. Jonathan Burton reports.
Watch This Week In Mutual Funds.
Commentary: Guinness-fueled rally looking frothy
Maybe it was the Guinness. The low-key, low-volume rally in U.S. stocks over the past week suddenly caught fire on Wednesday in a St. Patrick's Day rally that brought the Dow Jones Industrial Average to its seventh-straight rising day, its best performance in seven months and its highest close since shortly after Lehman Brothers collapsed.
See David Callaway.
ECONOMY & POLITICS
Weekly jobless claims decline
The number of people applying for unemployment benefits fell by 5,000 in the latest week, marking the third straight drop, but there's little evidence companies are ready to hire at a pace that would sharply reduce the nation's high jobless rate.
See story on jobless claims.
Consumer prices flat in February
U.S. consumer prices were unchanged on a seasonally adjusted basis in February, as falling energy prices offset increases in prices of cars, medical care and food, the Labor Department reported Thursday.
See Economic Report.
Complications abound for bank reform
Members of the Senate Banking Committee appeared close to a bipartisan deal on bank-reform legislation last week, but the panel is now likely to vote out a package next week strictly along party lines -- complicating its chances for passage in the full Senate this spring.
See story on bank reform.
•Consumer Prices, Leading Index Point to U.S. Expansion Without Inflation •Fed May Increase Discount Rate Before Next Policy Meeting, Economists Say •Papandreou Gives EU One Week to Seal Aid Plan as Germany Pushes IMF Option •El-Erian Says IMF Will Assist Greece Following `Game of Chicken' in Europe •Finance Bonds Beating Industrials as JP Morgan Sells Debt: Credit Markets •Time Warner Said to Weigh Metro-Goldwyn Studio Bid of Up to $1.5 Billion •Toyota Asks ABC News to Retract `Irresponsible' Sudden-Acceleration Report •Obama Delays Asia Trip to Help Push Health-Overhaul Bill Through Congress •Rio Tinto Trial Highlights Communist Party Role in China's `Scary' Courts
Economic and financial indicators: Output, prices and jobs, The Economist commodity-price index, Producer prices, Trade, exchange rates, budget balances and interest rates, Markets, Natural disasters, Money and interest rates, Foreign reserves, Retail sales, producer prices, wages and exchange rates
Rankings, ratings and indices from The Economist and Economist Intelligence Unit
Go to rankings »
Go to rankings »
The nation's meteoric rise has been accompanied by misinformation about its economy and its power.Read More
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Japan's stock market is up 61% in U.S. dollars, but Forbes editors debate if the rise will last.Read More
You're connected to more people than you know, and that innocent photo of last night's party could harm you in ways you never imagined.Read More
Faced with an ultimatum, MGM Mirage opted to maintain ties with China and the Ho family.Read More
|Evening Market Wrap Thu Mar 18 17:01 2010|| |
Mar 18, 2010 Stocks Close Mixed Following Stagnant Economic Data - U.S. Commentary Stocks ended Thursday's trading mixed, as the markets digested a series of economic reports that showed only small steps forward for the ailing economy. The Dow and the Nasdaq rose by modest margins, while the S&P 500 closed just below the unchanged mark. Full Article
Mar 18, 2010 Leading Indicators Index Rises For Eleventh Consecutive MonthThursday morning, the Conference Board released its report on leading economic indicators in the month of February, showing that its leading economic indicators index increased slightly, marking the eleventh consecutive month of growth. The report showed that the leading indicators index edged up by 0.1 percent in February following a 0.3 percent increase in January. Full Article
Mar 18, 2010 Weekly Jobless Claims Show Modest Decrease, Continuing Claims RiseFirst-time claims for unemployment benefits showed another modest decrease in the week ended March 13th, according to a report released by the Labor Department on Thursday, although the report also showed another increase in continuing claims. The report showed that initial jobless claims edged down to 457,000 from the previous week's unrevised figure of 462,000. Full Article
Mar 18, 2010 Consumer Prices Unexpectedly Flat In February Amid Drop In Energy PricesWith a drop in energy prices offsetting increases in the prices of food, medical care, and used cars and trucks, the Labor Department released a report Thursday morning showing that consumer prices unexpectedly came in flat in February. The report showed that the consumer price index was unchanged in February after increasing by 0.2 percent in each of the five previous months. Full Article
Mar 18, 2010 Philadelphia-Area Manufacturing Shows Continued Signs Of GrowthManufacturing activity in the mid-Atlantic region is continuing to show signs of growth in the month of March, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of activity in the manufacturing sector rising by more than expected. The Philly Fed said its index of regional manufacturing activity rose to 18.9 in March from 17.6 in February. Full Article
Mar 18, 2010 FedEx Q3 Profit More Than Doubles; Lifts FY10 Profit OutlookPackage delivery giant FedEx Corp. (FDX) on Thursday reported a profit for the third quarter that more than doubled from the year-ago period and beat analysts' consensus estimate, reflecting higher shipment growth due to the uptick in the global economy. Looking ahead, the company forecast earnings for the fourth quarter in line with analysts' estimates and raised its fiscal year 2010 earnings outlook. Full Article
Mar 18, 2010 VimpelCom Swings To Profit In Q4Russian telecommunications service provider Vimpel-Communications (VIP) Thursday reported a profit for the fourth quarter, compared with a loss last year. Revenues were down 9.6% for the quarter, reflecting slight revenue growth in Russia and lower revenues from its operations in Commonwealth of Independent States. Full Article
Mar 18, 2010 Teva To Acquire Germany's Ratiopharm For 3.625 Bln EurosTeva Pharmaceutical Industries Ltd. (TEVA) said Thursday that it has entered into a definitive agreement to acquire German generic drug company ratiopharm GmbH for an enterprise value of 3.625 billion euros. The acquisition is expected to be earnings accretive within three quarters after closing. Full Article
Mar 18, 2010 Aetna Backs FY10 Operating EPS Forecast, Below Market ViewDiversified health care benefits company Aetna Inc. (AET) Thursday reaffirmed its fiscal 2010 operating earnings forecast, that came in below Wall Street projections. Further, the company noted that its Executive Vice President and Chief Financial Officer Joseph Zubretsky will provide guidance on certain first quarter 2010 metrics in a newly scheduled conference call with investors on Friday. Full Article
Mar 18, 2010 GameStop Posts Lower Q4 Profit; Guides Q1, FY10Video game and entertainment software retailer GameStop Corp. (GME) on Thursday reported a decline in fourth-quarter profit, reflecting lower comparable store sales and higher costs. The company also provided a guidance for the first quarter and fiscal 2010. GameStop shares are currently trading up more than 9% on the NYSE. Full Article
Mar 18, 2010 Ross Stores Q4 Profit Up 47%, In Line With ViewOff-price retail chain Ross Stores, Inc. (ROST) reported Thursday a 47% year-over-year increase in profit for the fourth quarter, boosted by higher margins and a 14% quarterly sales growth. Comparable store sales were up 10%. Earnings per share surged 53% and came in line with analysts' expectations. Full Article
Mar 18, 2010 Obama Delays Asia-Pacific Trip To Focus On Health Care ReformPresident Barack Obama will put off his planned trip to Indonesia and Australia in order to remain in Washington for the conclusion of efforts to reform the nation's health care system. White House Press Secretary Robert Gibbs announced the delay of the trip, which had originally been scheduled to depart Thursday but had already been pushed back until Sunday. Full Article
Mar 18, 2010 Republicans Vow To Continue Fighting Health Care ReformHouse and Senate Republicans Thursday vowed to continue their opposition to plans by President Barack Obama and Congressional Democrats to reform the nation's health care system. House Minority Leader John Boehner, R-Ohio, and Senate Minority Leader Mitch McConnell, R-Ken., both pledged to do everything in their power to prevent Democrats from finally enacting a reform measure that has been before Congress for most of the last year. Full Article
Mar 18, 2010 Obama Signs $17.6 Billion Jobs Bill, Says More Needs To Be DonePresident Barack Obama Thursday signed a $17.6 billion job creation bill aimed at making it easier for companies to hire new workers. Obama said that while the economy is once again growing and there are signs that job losses are decreasing, many Americans have yet to feel the benefits of the recovery. Full Article
Mar 18, 2010 CBO Estimates Health Care Bill Will Cost $940 Billion Over 10 YearsThe Congressional Budget Office revealed Thursday that it estimates that Democrats' health care bill will cost $940 billion over the next ten years but will also significantly cut the federal deficit over the next 20 years. According to the CBO, the legislation would reduce the deficit by around $130 billion for the first 10 years after going into effect. Full Article
Mar 18, 2010 Reid Voices Support For House Health Care Reform BillSenate Majority Leader Harry Reid, D-Nev., released a statement Thursday in support of the version of health care reform revealed earlier in the day by the House. "Nevadans and all Americans want access to quality, affordable health care, and the bill that the House introduced today moves us another important step closer to that reality," Reid said. Full Article
Mar 18, 2010 Senate Judiciary Committee Approves Bill To Protect Discount PricingThrough a voice vote held Thursday, the Senate Judiciary Committee approved legislation to restore the ban on vertical price fixing that was abolished by a 2007 Supreme Court decision. The Discount Pricing Consumer Protection Act restores a ban that prevents manufacturers from setting a minimum price below which a retailer cannot sell the manufacturers' products. Full Article
Mar 18, 2010 Senate Passes Bill Addressing Sentencing Disparity Between Crack And CocaineWednesday night, the Senate unanimously passed legislation designed to address the sentencing disparity between crack and powder cocaine. The Fair Sentencing Act will increase the quantity thresholds for mandatory minimum sentences for crack cocaine distribution by 560%. Full Article
NYT: Afternoon Business Update
|Germany Backtracks on Europe Rescue for Greece |
By MATTHEW SALTMARSH
The onus for resolving Greece’s financial crisis moved closer to the I.M.F., as Berlin distanced
itself from any bilateral or European support for the Greek government.
Russia’s Nuclear Industry Seeks to Profit From Alternative Fuels
By ANDREW E. KRAMER
But the latest Russian effort to capitalize on the green reputation of nuclear power is drawing
criticism as potentially dangerous.
Teva Buys German Drug Maker for $5 Billion
By NATASHA SINGER
The acquisition of Ratiopharm catapults Teva, the global leader in generic drugs, from fifth
place among German generic players to the No. 2 spot.
Citing E-Mail, Viacom Says YouTube Ignored Copyrights
By MIGUEL HELFT
The charge was one of many made by Viacom in newly released filings in its $1 billion
copyright lawsuit against YouTube and Google.
Jerome B. York, Former Auto Executive, Dies at 71
By MICHELINE MAYNARD
Mr. York warned General Motors of a looming financial disaster and aided the billionaire
investor, Kirk Kerkorian, in efforts to drive up the price of Chrysler stock.
|• More Business News|
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