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Jun 24, 2010

NASDAQ : LATEST FOREX NEWS. June 24th., 2010


Latest Forex News

Mining Interactive: Tasman REE Focus Supported by European Commission Statements on Metal Supply Security.

'The Tasman Metals Rare Earth Story'

  • The Conference was convened to discuss the imbalance in raw material supply and consumption within the EU, and consider policy to secure sustainable access to strategic metals.
Mark Saxon, Tasman Metals President & CEO:
"Supply-side restrictions and continued quotas and tariffs from China emphasize the importance of developing western supply chain alternatives as proposed by the EU, to promote the development of high-tech and green-tech industries within the region.  Tasman holds numerous projects highly prospective for heavy REE’s (HREE) in Scandinavia, and is well positioned to play a leading role in the future supply of strategic metals to the European region.”

Dear Friends:
There are lots of new developments taking place in the REE industry in rapid succession.  Of particular note, I draw your attention to recent statements by the Chinese Ministry of Industry and Information Technology (MIIT) as reported by the China Daily newspaper (, revealing China is restructuring its rare earth mining industry, which currently supplies 95% of world markets.  The restructure is intended to conserve reserves and maintain high prices, while reduce over-exploitation and the environmental impact of mining.  Such restructuring can only be positive REE explorers like Tasman, who aim to provide REE supply alternatives.

To help clarify REEs, in my next week video ‘Midweek with Nick Nicolaas’, I will be interviewing John Kaiser ( on Rare Earths Elements (REE) and what recent developments imply for the Hard Asset investors.  John understands REEs and he has become one of the most sought after independent analysts in the industry. 
Stay Tuned - - for the next Chapter in the Tasman Metals Rare Earth Story!!!

Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Acronyms used:
REE rare earth elements, lanthanum to lutetium by atomic weight plus yttrium
LREE light rare earth elements, lanthanum to samarium by atomic weight
HREE heavy rare earth elements, europium to lutetium plus yttrium
TREO rare earth elements, calculated as oxides, including lanthanum to
            lutetium plus yttrium
HREO heavy rare earth elements, as per HREE above, calculated as oxides
LREO light rare earth elements, as per LREE above, calculated as oxides
Strategic Metals, Including Rare Earth Elements and their common usage:

MiningInteractive Videos
View Here
Stay tuned for the most recent updates on Tasman Metals and other leading mining companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058

ABC News : Australia Business. : Economic concerns weigh on Wall Street.. June 24th., 2010

Economic concerns weigh on Wall Street
Stocks in the United States retreated overnight, with investors worried about tighter financial regulation, and new signs of consumer weakness emerging.

Keneally urged to keep jobs local
The New South Wales Government is under pressure to buy locally-built buses, trains, and ferries instead of vehicles from interstate or overseas.

Power price squeezes business
The head of Tasmania's Chamber of Commerce and Industry fears some large companies will be forced to leave the State if the power price continues to rise.

MarketWatch: Personal Finance Daily: June 24th., 2010


Personal Finance Daily
JUNE 24, 2010

Thursday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

Mortgage rates hit all-time lows today. New health-reform rules soon will go into effect. Target-date funds need more and better regulation.

All of this is true and important news, and you can read about it in the stories highlighted in our Personal Finance Daily newsletter today.

But if a doctor has recently told you that you don't have long to live, the personal-finance tips and strategies we and others publish ever day are going to fade into the background, and quickly.

Understanding the best ways to make and save money is important. But it's not the end goal. Read Chuck Jaffe's column today to find out how he has been starkly reminded of that fact -- and for some bigger-picture tips on how to put to good use that money you're very busy earning and saving.

-- Andrea Coombes , Personal Finance editor

A brother's prognosis puts life in focus

The doctors were meeting with my brother Rob when I arrived at Stanford Medical Center last week to visit him. They let me in on the conversation. The prognosis was not good.
See Chuck Jaffe.


Fixed-rate mortgages, 5-year ARMs hit record lows

Rates on fixed-rate mortgages and the 5-year adjustable-rate mortgage dropped to record lows this week, according to Freddie Mac's weekly survey of conforming mortgage rates, released on Thursday.
See Mortgages.

Buyers find real-estate deals in bankruptcy court

Investors scouring for cheap real estate assets are starting to find opportunities in bankruptcy courts, where companies are selling assets they no longer can afford to keep.
See Outside the Box.


SEC falls short with proposed target-date fund rules

The Securities and Exchange Commission recently proposed new rules for target-date funds, those all-in-one funds widely adopted by many retirement savers and widely criticized by many experts. But do the proposed rules go far enough?
See Robert Powell.

U.K. pension age rising to 66 sooner than expected

The U.K. government on Thursday announced a shake-up of the state pension scheme, which could see the pension age for men increased to 66 a decade sooner than previously expected.
See story on U.K. pension age rising to 66 sooner than expected.


Health care starts to get more consumer-friendly

Whether you have a surprise visit to the emergency room or a child who needs health insurance, the first phase of the new health-reform law is likely to affect you later this year.
See Kristen Gerencher's Health Matters Blog.


Vanguard to introduce new index funds, ETFs

Vanguard Group on Thursday said it plans to introduce 19 new index funds with corresponding exchange-traded funds, as well as an ETF share class for its Standard & Poor's 500 index fund, as it attempts to build on momentum in its ETF business.
See ETF Focus.

Top performing newsletter confident of recovery

The market may be murky, but one top-performing letter is fully invested regardless -- and its success is particularly striking because its predicated on the assumption that things will get better.
See Peter Brimelow.


Smaller banks get break on capital standards

Smaller banks won a concession from congressional lawmakers on Thursday about how much capital they'll need, as larger banks worried that they'll have to pay for the failure
of mortgage giants Fannie Mae and Freddie Mac.
See story on smaller banks get break on capital standards.

Commentary: Score one for Skilling

Tucked somewhere between due process and due justice is a murky social substrata inhabited by guys like Jeff Skilling.
See MarketWatch First Take.

Initial jobless claims fall 19,000 to 457,000

First-time applications for state unemployment benefits fell by 19,000 last week to a seasonally adjusted 457,000, the lowest in six weeks, the Labor Department reported Thursday, confirming that U.S. labor markets remain weak.
See Economic Report.

Commentary: Breaking up that old Obama mob

The big buzz around Washington these days, along with the fall from grace of Gen. Stanley McChrystal, is when or whether Rahm Emanuel will leave his job as White House chief of staff.
See Darrell Delamaide's Political Capital.


BP faces mounting fines under Clean Water Act

Already massive, BP's tab arising from the Gulf of Mexico oil spill continues to worsen, with each fresh barrel that leaks into open waters adding a potential fine of $4,300, based on penalties spelled out in the Clean Water Act.
See story on BP faces mounting fines under Clean Water Act.

CNBC :Evening Brief: Oracle Earnings and Sales Top Expectations; Shares Leap. June 24th. 2010


»click here to see the latest top stories from


Bank Tax to Pay for FNM, FRE
A last minute proposal in the financial regulation bill is making bank CEO's very nervous, with CNBC's Eamon Javers.
» Watch Video  

Consumers Put Off Purchases
Tracking the pulse of the American consumer, with Matthew Shay, National Retail Federation President & CEO.
» Watch Video

 CEO Survey on Global Financial Future
More than 700 CEOs across the globe are sharing their thoughts on doing business in a global economy, with Peter Lacy, Accenture and Georg Kell, United Nations Global Impact.
» Watch Video

NYT : Afternoon Business Update. - U.S. Jobless Claims Drop but Remain at Elevated Levels.

Afternoon Business Update

U.S. Jobless Claims Drop but Remain at Elevated Levels

Initial claims for jobless benefits fell by the most in two months last week. Another report showed that orders for durable goods fell by 1.1 percent last month.

Stocks Drop After Mixed Economic Reports

Updates on the jobs and manufacturing sectors weighed on U.S. markets.

Twitter Settles F.T.C. Charges Over Privacy

As part of the settlement, the company agreed to establish an independently audited data security program.

Judge Sides With Google in Viacom Video Suit

A $1 billion copyright lawsuit claimed copyright infringement by the video-sharing site YouTube, owned by Google. Viacom said it would appeal.

Is Apple a Victim of Sour Grapes?

Once dismissed by larger companies, Apple is now viewed by some as an anticompetitive industry bully.

RTTNews : Evening Market Wrap.- Stocks Tumble As Economic Recovery Called Into Question - U.S. Commentary . June 24th., 2010

Evening Market Wrap Thu Jun 24 17:01 2010 


Jun 24, 2010 Stocks Tumble As Economic Recovery Called Into Question - U.S. Commentary Stocks declined by substantial margins on Thursday, as jobless claims persisted at high levels, while pessimism following May's historically low new home sales figures and uninspiring economic commentary from the Federal Reserve also seeped into today's session. The major averages all finished firmly lower, moving further off of last Friday's one-month closing highs. Full Article

Economic News

Jun 24, 2010 Jobless Claims Drop But Still Point To Sluggish Labor Market First-time claims for unemployment benefits fell by a little more than expected in the week ended June 19th, according to a report released by the Labor Department Thursday morning, although weekly claims continue to hover well above the 400,000 level. Full Article
Jun 24, 2010 Durable Goods Orders Fall In May Amid Drop In Aircraft Demand After reporting five consecutive monthly increases in durable goods orders, the Commerce Department released a report Thursday morning showing that durable goods orders fell in the month of May due largely to a drop in orders for transportation equipment. Full Article

Corporate News

Jun 24, 2010 Autodesk Lifts Lower End Of Q2 OutlookDesign software maker Autodesk Inc. (ADSK) on Thursday raised the lower end of its earnings and revenues outlook for the second quarter, saying it was pleased with global demand levels. The revised outlook is within analysts' range. Full Article
Jun 24, 2010 Resolution To Buy AXA's UK Life Business For About $4.1 Bln.British buyout firm Resolution Ltd. (RSL.L) said Thursday that it has agreed to acquire the UK Life Business of French insurer AXA SA (AXAHY.PK) for up to GBP 2.75 billion or US$4.11 billion. Full Article
Jun 24, 2010 Discover Financial Q2 EPS DeclinesDiscover Financial Services (DFS) Thursday reported a 23% decline in second-quarter net income per share allocated to common stockholders while net income rose 14%, driven by a reduction in delinquency rates and lower loan-loss provisions. Full Article
Jun 24, 2010 Lennar Swings To Profit In Q2 Despite Lower RevenuesHome builder Lennar Corp. (LEN, LEN_B) Thursday reported a profit for the second quarter, compared with a loss last year, driven by margin improvement, lower SG&A expenses and an income tax benefit. Full Article
Jun 24, 2010 ConAgra Foods Q4 Profit Drops 48%, Misses View; Guides 2011 Profit In LinePackaged foods company ConAgra Foods, Inc. (CAG) reported Thursday a 48% year-over-year drop in profit for the fourth quarter, hurt primarily by one week less in the latest quarter and higher expenses. Full Article
Jun 24, 2010 McCormick Q2 Profit Rises; Sees FY10 Earnings At Top End Of Guidance RangeSpices and flavors manufacturer McCormick & Co., Inc. (MKC) reported Thursday a higher second-quarter profit, reflecting strong sales, aided by favorable currency exchange rates, and improved margins. Both earnings per share and sales topped market projections. Full Article
Jun 24, 2010 Pioneer Natural Resources Signs $1.15 Bln Eagle Ford Shale JV Deal With India's Reliance IndustriesPioneer Natural Resources Co. (PXD) Thursday revealed a joint venture agreement with a wholly-owned U.S. subsidiary of India-based Reliance Industries Limited to sell a 45% interest in around 212,000 net acres leased by Pioneer in the Eagle Ford Shale play for $1.15 billion. Full Article

Forex Top Story

Jun 24, 2010 Dollar Hits Monthly Low Versus Yen The dollar was widely mixed on Wednesday, falling further versus the yen while finding support against resource-linked currencies like Canada's loonie. With its Japanese counterpart trading places with the dollar as the most preferred safe haven option, the greenback slumped to its lowest in a month versus the yen. Full Article

Political News

Jun 24, 2010 Rudd Ousted; Gillard Australia's 1st Female PM Julia Gillard has become the first female Prime Minister of Australia, replacing Kevin Rudd who resigned the post early Thursday. Rudd stood down as Prime Minister, a post he's held for about two-and-a-half years rather than face what appeared to be certain defeat in a leadership vote among members of the Labor Party. Full Article
Jun 24, 2010 New Poll Shows Trend Suggesting Democrats Could Lose Big In NovemberA new Gallup poll released Thursday could mean trouble for Democrats come November, as it highlights a trend of the party of the President losing a lot of seats in the House if the approval rating of Congress is low. Full Article
Jun 24, 2010 Obama Offers Congratulations To New Australian Prime Minister Julia GillardIn a statement released by the White House Thursday, President Barack Obama offered his congratulations to new Australian Prime Minister Julia Gillard. The statement called Gillard's assumption of the position a "historic step," as she is the first female Prime Minister in Australia's history. Full Article
Jun 24, 2010 McConnell Claims DISCLOSE Act Restricts First Amendment RightsSenate Minority Leader Mitch McConnell, R-Ken., spoke out against the DISCLOSE Act Thursday, arguing that it restricts First Amendment rights. The DISCLOSE Act, or the Democracy Is Strengthened by Casting Light On Spending in Elections Act, would set new requirements for groups releasing political ads. Full Article
Jun 24, 2010 Landrieu Requests Tax Guidance On Oil Spill Claims PaymentsSenator Mary Landrieu sent a letter to Treasury Secretary Timothy Geithner and Internal Revenue Service Commissioner Doug Shulman Thursday, asking the federal government to provide tax guidance to Gulf Coast individuals and businesses that have received oil spill claims payments from BP (BP). Full Article
Jun 24, 2010 Hatch Outlines Concerns About Kagan's NominationSenator Orrin Hatch, R-Utah, outlined his concerns about Supreme Court nominee Elena Kagan Thursday, just a few days before her confirmation hearing begins on Monday, June 28. Hatch stated that he wanted to "pin down, as best I can, what kind of Justice Ms. Kagan would be." Full Article
Jun 24, 2010 Supreme Court Rules Prosecutors Misused Statute In Case Against Enron's SkillingThe Supreme Court ruled Thursday that prosecutors misused the "honest services" fraud law in their case against former Enron CEO Jeffrey Skilling, though it also ruled that it should be up to a lower appeals court to decide if his conviction should be overturned. Full Article




Market Snapshot
Index Last Change %Change  
DJIA 10,152.80 -145.64 1.41% Hilighted
Nasdaq 2,217.42 -36.81 1.63%  
S&P 500 1,073.69 -18.35 1.68%  
FOX 50 787.01 -12.26 1.53%  
DIJA Chart


6/24/2010 4:30:00 PM ET DJ30 PointChange: -145.64 Level: 10152.80 NASDAQ PointChange: -36.81 Level: 2217.42 NQ100 PercentChange: -1.6 R2K PercentChange: -1.7 SP400 PercentChange: -1.8 SP500 PointChange: -18.35 Level: 1073.69 NASDAQ-Adv:637 Dec: 1998 NYSE-Adv:690 Dec: 2336
[BRIEFING.COM] Four straight losses have the stock market down nearly 4% week-to-date. The most recent slide came amid some rather uninspiring data and some mixed earnings reports.
Market participants initially had a somewhat positive reaction to premarket data that showed durable goods orders for May fell 1.1%, which was softer than the expected 1.3% decline, and orders less transportation increased 0.9%, which was a slower clip than the 1.3% increase that had been anticipated.
The durable goods orders figures were released at the same time as the initial jobless claims count for the week ended June 19. The latest lot of claims declined 19,000 week-over-week to 457,000, which was largely in-line with the 460,000 initial claims that had been widely expected. Continuing claims fell 45,000 week-over-week to 4.55 million, which was also on par with what had been expected.
Though the data wasn't inspiring, it didn't disappoint either. In turn, there was a sense of relief among many market participants, given the salience of yesterday's worst new home sales report on record and the disappointing jobless claims report from the prior week. Still, the stock market started the session in the red and quickly fell under a sharp, broad-based selling effort.
Earnings didn't do anything to offer support. Nike (NKE 69.63, -2.89) posted in-line earnings and Bed Bath & Beyond (BBBY 39.12, -2.34) brought in better-than-expected earnings, but that was overshadowed by the company's weak forecast. Best Buy (BBY 35.74, -0.89) treated investors to a 7% increase in its dividend, but that was largely ignored by the broader market. Shares of retailers were dropped for a collective loss of 2.7%.

Read more:


276 bailout capitol money washington
Frantic Hours for Reform Lawmakers have waited to the last minute to sort out the most controversial provisions in the bill.


Euro Zone Industry Orders Soar

Is the World Broke? Euro zone industrial new orders rose in April at their fastest annual pace in 10 years.

Stocks See Red at Kickoff Despite Data

Wall Street lost ground at the open as data weren’t enough to inspire risk-taking in the markets.

Durable Goods Orders Fall in May

Weak demand for airplanes and communications equipment pushed orders down 1.1%.

Jobless Claims Fall 19K

The number of workers filing new applications for unemployment insurance fell to 457,000.

No Rain, Sleet or Snow....

Hundreds of fans flocked to stores to be the first buyers of Apple's new iPhone 4.

RTTNews : Daily Market Analysis.- Renewed Economic Uncertainty May Put Pressure On Stocks

Daily Market Analysis Thu Jun 24 09:21 2010 

Jun 24, 2010 Renewed Economic Uncertainty May Put Pressure On Stocks - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a moderately lower open Thursday as traders digest the latest batch of economic data. While the Labor Department released a report showing a drop in first-time claims for unemployment benefits, jobless claims remain at a relatively high level. Traders may also continue to react to uninspiring economic commentary from the Federal Reserve, which said financial conditions have become less supportive of economic growth due in part to the European debt crisis. Full Article

RTTNews : Morning Market Briefing.- Stocks Set To Slide As Jobless Claims Remain At Worrisome Levels - U.S. Commentary . June 24th., 2010

Morning Market Briefing Thu Jun 24 09:01 2010 


Jun?24,?2010 Stocks Set To Slide As Jobless Claims Remain At Worrisome Levels - U.S. Commentary Stocks are poised for a moderate retreat to kick off Thursday's session, as a report showed that jobless claims remain at worrisome levels. The major index futures are all in negative territory, with the Dow futures down by 38 points. Full Article

Economic News

Jun?24,?2010 New Zealand GDP Expands For 4th Straight QuarterEconomic activity in New Zealand expanded by 0.6 percent in the March 2010 quarter, according to data released Thursday by Statistics NZ. Full Article
Jun?24,?2010 Durable Goods Orders Fell By 1.1% In May After reporting five consecutive monthly increases in durable goods orders, the Commerce Department released a report Thursday morning showing that durable goods orders fell in the month of May due largely to a drop in orders for transportation equipment. Full Article
Jun?24,?2010 Taiwan Unexpectedly Lifts Key Interest RatesTaiwan's central bank unexpectedly raised its interest rates for the first time since June 2008 as the economy recovered strongly from the recession, boosted by higher exports. Full Article
Jun?24,?2010 Japan Logs JPY324.2 Bln Trade Surplus In MayJapan saw a merchandise trade surplus of 324.2 billion yen in May, the Ministry of Finance said on Thursday, marking the 12th consecutive monthly surplus. Full Article
Jun?24,?2010 French Consumer Spending Growth Exceeds ForecastFrench consumer spending rose more than expected in May as expenditure on durables rebounded strongly, thanks to the soccer World Cup sales, data released by the statistical office Insee showed Thursday. Full Article
Jun?24,?2010 Eurozone April Industrial Orders Growth Tops Expectations Eurozone industrial orders grew more than expected in April from the previous year, recording its highest growth in a decade. Full Article
Jun?24,?2010 Weekly Jobless Claims Fall To 457,000 First-time claims for unemployment benefits fell by a little more than expected in the week ended June 19th, according to a report released by the Labor Department Thursday morning, although weekly claims continue to hover above the 400,000 level. Full Article

Earnings News

Jun?24,?2010 Autodesk lifts low end of Q2 profit, revenue outlook rangesThursday, Autodesk, Inc. (ADSK) said it is lifting the low ends of earnings as well as revenue outlook ranges that it provided earlier for the second quarter, citing growing global demand. The company also set a target long-term business model of 12%-14% compound annual revenue growth and non-GAAP operating margin of at least 30%. Full Article
Jun?24,?2010 McCormick Q2 profit up 31%, beats estimate; lifts FY10 EPS viewThursday, McCormick & Co. Inc. (MKC) reported a 30.6% rise in its second-quarter profit, reflecting a 5.4% growth in revenue, better gross margins, and the absence of restructuring charges that hit year-ago results. Both adjusted earnings and revenue came in above the Street view. Gross profit margin expanded 100 basis points to 40.9%. Looking ahead to fiscal 2010, McCormick said it now expects earnings per share to fall at the upper end of its earlier guidance range. Full Article
Jun?24,?2010 ConAgra Q4 profit declines 48%, misses StreetThursday, ConAgra Foods, Inc. (CAG) said its fourth-quarter dropped 48.1%, reflecting a 5% dip in sales partly due to an extra week of operations in the prior-year period, and higher charges. Adjusted earnings came a penny below the Street view. Consumer Foods sales declined 4.3%, and decreased 3% on a comparable 13-week basis, while Commercial Foods sales came down 6.3% year-over-year. Selling, general and administrative costs also rose 2.9% to lower the bottomline. Looking ahead to fiscal 2011, ConAgra expects EPS to grow 8%-10% from fiscal 2010 comparable EPS. Full Article
Jun?24,?2010 Paychex Q4 profit rises 2%, beats StreetWednesday, Paychex Inc. (PAYX) reported a 2% increase in fourth-quarter profit, as revenue remained more or less flat compared to last year. Both earnings and revenue came in above the Street view. Payroll service revenue dipped 2%, while Human Resource Services revenue grew 6% year-over-year. Looking ahead to fiscal 2011, the company expects net income to climb slightly over the preceding year. Full Article
Jun?24,?2010 Bed Bath & Beyond Q1 profit up 58%; guides Q2 EPSWednesday, Bed Bath & Beyond, Inc. (BBBY) said its first-quarter profit advanced 58% from the past year, reflecting a 13.6% growth in sales, as well as better margins. Both earnings and sales for the period came in well above the Street view. Comparable store sales in the quarter increased by about 8.4%. For the second quarter, the company provided earnings outlook range, with the estimate of analysts at the top end of the range, and also guided full year earnings below expectations. Full Article
Jun?24,?2010 Nike Q4 profit climbs 53%Wednesday, Nike Inc. (NKE) posted a 53% rise in fourth-quarter profit, reflecting an 8% growth in revenue, better gross margins and the absence of a hefty restructuring charge that hurt year-ago results. Earnings came in above the Street view, while revenue fell short of expectations. Full Article
Jun?24,?2010 Darden Restaurants Q4 profit slides 6%Wednesday, Darden Restaurants, Inc. (DRI) reported a 6% dip in fourth-quarter profit, reflecting a 5.7% decline in sales, and the impact of charges. The year-ago results also benefited from an extra week of operations. Combined, same store sales for the three restaurant chains declined 2.3%. The company lifted quarterly dividend by 28% to 32 cents a share. Looking ahead to fiscal 2011, Darden expects earnings to grow 14% - 17% year-over-year on a sales growth of 5.5% - 6.5%. Full Article
Jun?24,?2010 Lennar turns to profit in Q2 despite an 8.7% dip in revenueThursday, Lennar Corp. (LEN) said it turned to profit in the second quarter, helped in part by an income tax gain, and by lower costs. Total revenue dropped 8.7% year-over-year, reflecting the end of the Federal homebuyer tax credit in April that hit the topline. Analysts were expecting a breakeven for the quarter. Revenue came in below expectations. Lennar also recorded a 7.5% decline in the number of home deliveries for the period. New orders also slid 10% to 3,207 homes from the prior-year quarter. Full Article
Jun?24,?2010 Discover Financial Services Q2 profit rises 14% on much lower loan loss provisionsThursday, Discover Financial Services (DFS) reported a 14.2% rise in second-quarter profit, despite a 3.7% dip in net interest income, helped by a 44% drop in provision for loan losses. The company noted that Discover card sales volume, which increased 6% year-over-year, was a record for a second-quarter. Cards sales improved on general increase in consumer spending and higher gas prices. Full Article

Corporate News

Jun?24,?2010 Ford to invest $450 mln in Thailand car plantWednesday, Ford Motor Co. (F) announced a $450 million outlay to bring about a new passenger car plant in Rayong, Thailand, in order to cater to the rising demand in Asia. The production unit, which is scheduled for completion in 2012, will have an initial capacity of 150 thousand cars a year, and could offer up to 11,000 new jobs. Full Article
Jun?24,?2010 Pioneer to sell 45% stake in shale gas assets to Reliance for $1.15 blnThursday, Pioneer Natural Resources Co. (PXD) said it agreed to sell a 45% stake in assets in the Eagle Ford shale play to the Indian energy major Reliance Industries Ltd. for $1.15 billion. Reliance subsidiary Reliance Eagleford Upstream LP will pay $266 million upfront in cash to Pioneer, and will defray $879 million to carry Pioneer's future drilling costs. The company noted that it will retain about 42% working interest in the acreage and Reliance will receive 41% working interest. Closing of the deal is expected within five business days, with the effective date of joint venture agreement as June 1. Full Article

Broker Ratings Changes

Jun?24,?2010 FBR Capital Markets Upgrades Progress Energy Inc (PGN) To Market Perform From Underperform With $41 Up From $40 Price Target

Todays WS Events

Jun?24,?2010 Dell 2010 Analyst Meeting At 9:00 AM ET Dell Inc. (DELL) CEO, Michael S. Dell will host its 2010 Analyst Meeting in Austin, Texas. The event is scheduled to begin at 9:00 AM ET June 24, 2010. To access the live webcast, log on at
Jun?24,?2010 Yahoo! Annual Meeting Of Shareholders At 1:00 PM ET Yahoo! Inc. (YHOO) will host its Annual Meeting of Shareholders, on June 24, 2010. The event is scheduled to begin at 1:00 PM ET. To access the live webcast, log on at
Jun?24,?2010 Oracle Q4 10 Earnings Conference Call At 5:00 PM ET Oracle Corp (ORCL) will host a conference call at 5:00 PM ET June 24, 2010, to discuss its Q4 10 financial results. To access the live webcast, log on at

Political News

Jun?24,?2010 Rudd Ousted; Gillard Australia's 1st Female PM Julia Gillard has become the first female Prime Minister of Australia, replacing Kevin Rudd who resigned the post early Thursday. Rudd stood down as Prime Minister, a post he's held for about two-and-a-half years rather than face what appeared to be certain defeat in a leadership vote among members of the Labor Party. Full Article

BBC : Google wins Viacom copyright case . June 24th.2010

Page last updated at 12:56 GMT, Thursday, 24 June 2010 13:56 UK
You Tube screen shot
Google wins a landmark copyright ruling after a judge throws out a $1bn lawsuit brought by Viacom against its YouTube service.

Australia miners 'hopeful' on tax
Mining companies in Australia express hope of reopening discussions about a controversial mining tax with the new PM.

Prison term demanded for Kerviel
The prosecutor in the trial of former trader Jerome Kerviel calls for him to spend four years in prison, should he be convicted.

Protesters against Greek austerity measures
Higher taxes, big cutbacks, sluggish recovery - find out how European government's are tackling the budget crisis
The Australian mining tax row that helped topple a PM
Moscow aims to become a global financial centre 
Failure is key to Silicon Valley's success



Why record price for Manet failed to impress
Key savings in the Budget and how they stack up 
Europeans reflect on wide-ranging budget cuts