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Aug 31, 2010

Mining Interactive : Tumi Uncovers Un-Mined Historical Mineral Resource at its Tomtebo Mine in Sweden. August 31st., 2010



August 31, 2010
TUMI RESOURCES LTD.
  • Between 1836 and 1837, 1,841 tons of copper and 1,077 tons of sulphur were produced. The copper content of the ore varied from 3.0% to 5.3% between the years 1915 and 1919; and - - The average ore grade during the last phase of mining, between 1965 and 1969, was about 1% copper, 1% zinc and 35% sulphur. Copper concentrate produced contained on average 140 g/t Ag and 9 g/t Au
  • A report (non NI43-101 compliant) written by Birger Hellegren in 1983 details un-mined resources between the surface and the 200m level estimated at 385,000 tonnes grading 0.67% Cu, 1.84% Pb, 3.72% Zn, 0.66 g/t gold and 55 g/t Ag
  • Tumi completed an airborne electromagnetic (EM) survey in 2006 and an induced polarization (IP) survey in 2007 covering an area of 1,000m by 800m which detected several previously unknown anomalies with high chargeability and low resistivity
  • With the discovery of this historical resource the Company will undertake a drill program on these anomalies as soon as capital can be raised
Says David Henstridge, President & CEO: “there have been discussions recently in Sweden over the possibility of building a central processing plant for base metal ores known in the Bergslagen district. The Tomtebo resource may well be an important immediate source of ore should this plant be built, and hence the Company will continue to work towards holding this area for the long term”
View Tumi's Press Release

Dear Friends:
Once the funds are raised and with previously approved drill permits in place Tumi will be able to look forward to excellent 2010 fall and 2011 exploration seasons.  So, - - bring on the drills ASAP!
As always - - - Stay Tuned!!

Regards,
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"

MiningInteractive Videos
Click Here
Stay tuned for the most recent updates on Tumi Resources and other leading junior exploration companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058
nick@mininginteractive.com

BBC Latest News | Last Update 23:05 GMT: Moody's let off hook by SEC. August 31st., 2010


Broker facing computer screens in Frankfurt31 August 2010 Last updated at 23:05 GMT

Moody's let off fraud hook by SEC

The US financial regulator decides to drop possible fraud charges against rating agency Moody's over a computer glitch.

Federal Reserve chairman Ben BernankeFed mulls further debt purchases

Minutes from its August meeting reveal the US Federal Reserve will buy up more debt if conditions worsen "appreciably".

MarketWatch: Special Financial Services: Hedge Funds : Fortress Exes Sold Stock To Cover Taxes.August 31st., 2010

MarketWatch
  FINANCIAL SERVICES
Stocks to Watch: Stocks in focus Wednesday: Heinz, Hovnanian  
By MarketWatch


Among the companies whose shares are expected to see active trade in Wednesday’s session are H.J. Heinz Co., Collective Brands Inc. and Hovnanian Enterprises Inc. 


 
By Alistair Barr MarketWatch


Fortress Investment Group executives sold stock last week to cover the cost of taxes triggered by vesting of restricted stock awards. 

CNBC EVENING BRIEF :° Street Insiders Want Out, Selling $100 Million in Stock". August 31st., 2010



LATEST STORIES


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MarketWatch : Personal Finance Daily :Palliative care does not mean 'death panel'. August 31st. 2010

Personal Finance Daily
AUGUST 31, 2010

Tuesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:
What, exactly, is a "death panel?" I'm not entirely sure, though I'm fairly certain some readers will be happy to tell me with great alacrity. Here's what I do know: palliative care, in which doctors and other experts talk with patients about what treatment path they want to take, and what their future with their disease might look like, and about how they plan to talk with family and friends about their illness, does not mean "death panel," though some have implied these types of conversations are one and the same.

Probably palliative care is what many doctors, when they entered the profession, planned to do as part of their regular counseling when working with seriously ill patients. But things don't always work out as planned, and doctors these days, for myriad reasons, may be too rushed, or too focused on ridding their patients' body of the disease, to really focus on the bigger picture of that person's life.

But one new study finds that when palliative care is part of an overall course of treatment, patients live longer -- and they live longer with a higher quality of life. Read Kristen Gerencher's Vital Signs column today to find out more.

What sometimes got lost in all the debate over death panels is that sometimes very ill people, and their families, really do want help figuring out the best way to prepare for the inevitable.

-- Andrea Coombes , Personal Finance editor

Why you should care about palliative care

For many patients facing a serious illness, the last thing on their minds is decoding what the phrase "palliative care" actually means, let alone asking for it in their moment of need.
See Kristen Gerencher's Vital Signs on why you should care about palliative care.


Kids' emergency-room visits double over 10 years

With your body moving and your spirit soaring, playing sports can be exhilarating and even health-promoting, especially when you're a child. But it's not without risk, and head injuries are among the biggest threats.
See Kristen Gerencher's Health Matters Blog.


INVESTING

Death of equities may be exaggerated

Reports of investors fleeing the stock market may have been overstated. In fact, rather than leaving stocks behind, evidence suggests that investors are ditching U.S. stock mutual-fund managers and putting money into index funds that track established U.S. stock benchmarks as well as international stock funds.
See FundWatch on death of equities may be exaggerated.


REAL ESTATE

U.S. home prices rose 1% in June

Home prices rose 1.0% in June compared with May in 20 major U.S. cities, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.
See story on U.S. home prices rose 1% in June.


ECONOMY & POLITICS

Consumer confidence rises in August

Confidence among consumers rose to 53.5 in August due to an improvement in their short-term outlook, but overall, consumers remain "apprehensive," the Conference Board reported Tuesday.
See story on consumer confidence rises in August.


FDIC: 829 problem banks in second quarter

The number of problem banks reached 829 during the second quarter while the profit of insured institutions reached a near-three-year high, the Federal Deposit Insurance Corp. said Tuesday.
See story on FDIC: 829 problem banks in second quarter.


Commentary: Dead banks never looked so good

You're heard the expression "failing upward" to describe that bungling colleague who always seems to advance for whatever reason. Now, it apparently applies to banks.
See story on dead banks never looked so good.


Commentary: Seven lean years: No recovery till 2016

Summer of recovery? Dead. How dead? Remember Genesis? The Seven Lean Years? Add seven years to the handoff from Bush to Obama in early 2009 and you get no recovery till 2016. Get it? No recovery till the end of Obama's second term, assuming he's reelected -- a big if.
See Paul B. Farrell on seven lean years: No recovery till 2016.


Hurricane Earl on track to brush by North Carolina

Hurricane Earl is expected to reach the shores of North Carolina by 2 a.m. Friday, the National Weather Service said Tuesday.
See story on Hurricane Earl on track to brush by North Carolina.


BP's leaky well kill on hold in rough seas

While the Gulf of Mexico has been spared from any major hurricane so far in 2010, rough seas are delaying efforts to permanently kill the source of the worst maritime leak in U.S. history.
See story on BP's leaky well on hold in rough seas.

RTTNews: Evening Market Wrap: Stocks Crawl To Mixed Close Amid Continued Questions About Economy - U.S. Commentary . August 31st., 2010

Evening Market Wrap Tue Aug 31 17:01 2010 

Commentary

Aug 31, 2010 Stocks Crawl To Mixed Close Amid Continued Questions About Economy - U.S. Commentary Stocks turned in a lackluster performance to close out the month of August on Tuesday, with the lack of any substantive clues regarding the direction of the economy from the Federal Reserve contributing to the choppy trading on the day. The major averages gave up earlier upside and turned mixed following the report, lingering near the flat line for the remainder of the session. Full Article

Economic News

Aug 31, 2010 Home Prices Increase More Than Expected In June While Standard & Poor's released a report Tuesday morning showing that its reading on home prices in 20 major metropolitan areas increased by more than expected in June, the data was likely skewed by the homebuyer tax credit. The report showed that the S&P/Case-Shiller 20-City Composite Home Price Index increased at an annual rate of 4.2 percent in June. The growth represents a slowdown from the 4.6 percent increase seen in May but still exceeded economist estimates for 3.1 percent growth. Full Article
Aug 31, 2010 Chicago Business Barometer Indicates Slower Pace Of Growth In August Business activity in the Chicago-area saw a notable slowdown in the pace of growth in August, according to a report released by the Institute for Supply Management - Chicago on Tuesday, although activity still expanded for the eleventh consecutive month. The ISM - Chicago said its Chicago Business Barometer fell to 56.7 in August from 62.3 in July, with a reading above 50 indicating continued growth in business activity. Economists had been expecting the barometer to slip to 57.0. Full Article
Aug 31, 2010 Consumer Confidence Unexpectedly Increases Amid Improvement In Expectations With consumer expectations seeing a moderate improvement in the month of August, the Conference Board released a report on Tuesday showing that its consumer confidence index for the month unexpectedly increased compared to July. The Conference Board said its consumer confidence index rose to 53.5 in August from an upwardly revised 51.0 in July. The increase came as a surprise to economists, who had expected the index to edge down to a reading of 50.0. Full Article
Aug 31, 2010 FOMC Minutes Show Fed Willing To Provide Additional Stimulus - Update With recent data indicating a slowdown in the pace of the economic recovery, the minutes of the August Federal Open Market Committee showed that members of committee said that the Fed should begin to consider steps it could take to provide additional stimulus if the economic outlook weakens further. The committee members also agreed that the softer tone of recent data called for changes to the FOMC's characterization of the economic and financial situation. Full Article

Earnings News

Aug 31, 2010 Dollar General Lifts Full-year View As Q2 Profit Surges - Update Dollar General Corp. (DG), one of the largest discount retailers in the U.S., Tuesday reported a sharp increase in profit for the second quarter, driven by sales growth and margin expansion. The dollar store chain also raised its full-year adjusted earnings outlook, while being mindful of the macroeconomic environment, including continuing high unemployment rates. Full Article
Aug 31, 2010 Monsanto Now Sees 2010 Earnings At Lower End Of Guidance Range - Update Agricultural products giant Monsanto Co. (MON) on Tuesday lowered the higher end of its ongoing earnings outlook for fiscal year 2010 to reflect restructuring charges related to its Roundup business, and now projects earnings below analysts' estimates. The company's shares are currently down almost 3% in the pre-market trading. Full Article

Corporate News

Aug 31, 2010 Deere To Sell Wind Energy Business To Exelon For $900 Million Farm machine maker Deere & Co. (DE) agreed Tuesday to sell its wind energy business to a subsidiary of Exelon Corp. (EXC) for $900 million. The initial deal is for $860 million, plus a provision for up to an additional $40 million payment upon commencement of construction on the advanced development projects. Full Article

Forex Top Story

Aug 31, 2010 Dollar Stays Near Lowest Since '95 Versus Yen The dollar tested its 15-year low versus the yen but hit a 6-week high versus the sterling after the minutes of the latest Federal Reserve meeting showed policymakers are indeed mulling additional stimulus. The statement released by the FOMC following the meeting noted that the pace of recovery in output and employment has slowed in recent months. Full Article

Political News

Aug 31, 2010 Obama Thanks Troops Ahead Of National Address On IraqAhead of an address to the nation marking the official end of combat operations in Iraq, President Barack Obama traveled to Texas Tuesday to thank some of the soldiers that had made the mission a success. Speaking to a crowd of about 170 soldiers and families of those still serving overseas at the Ft. Bliss Army Base in El Paso, Texas, Obama said that he was not seeking to take a "victory lap." Full Article
Aug 31, 2010 Poll Shows Conflicting Opinions About Ground Zero MosqueAmid the controversial plans to build a mosque near the site of the September 11th attacks in New York City, the results of a Quinnipiac University poll released Tuesday showed that New York State voters have conflicting opinions about religious freedom and the sensitivities of the families of 9/11 victims. Full Article

FINANCIAL & FOREX INFO : DAILY INVESTOR UPDATE: Wall St ends dismal month on mostly flat note .August 31st., 2010




 FROM : REUTERS



Wall St ends dismal month on mostly flat note
Fed mulls stimulus if outlook worsens appreciably
Loan picture improves but troubles remain: FDIC
Consumer confidence and home prices edge up
Exelon to buy Deere's wind power unit for $860 million
Citigroup to hire up to 7,500 in China: report
U.S. turns down China currency probes in two cases
Tribune board sets committee to oversee bankruptcy
U.S. regulators probe Hyundai Sonata steering
Hitachi plans IPO of hard-drive unit: sources








NYT : Afternoon Business News | Business Update :" Ireland Tries to Keep a Bank From Pulling It Under". August 30th., 2010





BUSINESS:

Ireland Tries to Keep a Bank From Pulling It Under

 
By LANDON THOMAS Jr.
Anglo-Irish, the midsize Irish lender whose profligacy symbolized the excesses of the real estate bubble, has put a strain on government's finances.
Prescriptions Blog

The Race to Replace Warfarin

 
By NATASHA SINGER
Leading drug makes are developing new anticoagulant drugs to prevent stroke and systemic blood clots in people with atrial fibrillation, an irregular heartbeat disorder.

F.D.I.C. Gives a Mixed Report on Banks in Quarter

By ERIC DASH
The banking sector posted a record $21.6 billion in profit in the quarter, but the list of problem banks increased.
Square Feet

Building on the Past, a Detroit District Thrives

 
By ALISON GREGOR
Developers in Midtown are refurbishing older buildings, using tax credits and public financing, as much as they are building from scratch.

Wall Street Indexes Struggle for a Direction

 
By CHRISTINE HAUSER and DAVID JOLLY
The latest housing data was more upbeat, and the latest on consumer confidence rose in August. But traders were still concerned about Friday's jobs report.

FOX BUSINESS: Afternoon Breaking Business News: Fed Grappled With Strategy. August 31st. 2010

FOX BUSINESS :

Bernanke Congress w/ Fed Seal
Fed Grappled With StrategyAt their meeting last month, Federal Reserve members debated the merits of giving the economic recovery further help, documents show.
THE MOST POWERFUL NAME IN BUSINESS NEWS

Citi to Meet With Mayo

Citigroup caved into pressure and agreed to meet with a prominent securities analyst who has been blackballed by the big bank. | WATCH

Ugly August Ends in Stalemate

Wall Street closed in a standstill in the face of a rare cluster of upbeat reports on the state of the struggling economic recovery.

Will Tech IPOs Inspire Market Debuts?

Experts hope the IPOs of Skype and Demand Media will bring confidence back to the IPO market, prompting other tech giants to consider offerings.

The Washington Post : Afternoon Edition : Most Viewed Article on WP. August 31st., 2010





Most Viewed Articles on washingtonpost.com

1) Local Digest

2) Beck's marriage of politics and religion raising questions

Fox News commentator Glenn Beck has gone from being a hugely popular media figure to a spiritual player. Yet the Mormon convert seems an unlikely leader for conservative Christians.

3) 'Stars' line up with Bristol Palin among them

Bristol Palin is getting into the family business by becoming one of the celebrity hoofers on the cast of ABC's "Dancing With the Stars" this fall.

4) Beck ruminates after rally: His size has seen the glory

When bathed in his own afterglow, Glenn Beck becomes as soft and gentle as Mister Rogers.

5) Pair held after odd items turn up in luggage

Dutch police have detained two men who flew from Chicago to Amsterdam on Sunday night after U.S. screeners found suspicious-looking items in their checked luggage before they departed, U.S. law enforcement officials said.

6) Obama speech on Iraq has risks

President Obama is promoting the decision to end the U.S. combat mission in Iraq on Tuesday as a fulfillment of his campaign promise to draw the war to a close. But some of the president's detractors are using the same moment to question the wisdom of doing so.

7) Beck launches conservative news site TheBlaze.com

Conservative Fox News host Glenn Beck, a frequent critic of the mainstream news media, has launched his own news site, The Blaze. The site appears to be modeled after the Huffington Post and not surprisingly, features stories with a conservative bent about some of Beck's favorite issues, such as...

8) Jonathan Franzen's new novel, "Freedom": The wages of liberty in a toxic world

Jonathan Franzen's "Freedom" is big enough and thoughtful enough to engage and irritate an enormous number of readers.

9) Glenn Beck may be unlikely leader for conservative Christians

A few weeks before organizing a massive rally on the Mall that had the feel of a religious revival, Glenn Beck sought the blessing of some of the country's most prominent conservative Christian leaders.

10) Pair held after odd items turn up in luggage

Dutch police have detained two men who flew from Chicago to Amsterdam on Sunday night after U.S. screeners found suspicious-looking items in their checked luggage before they departed, U.S. law enforcement officials said.

Forbes: Finance : Bernanke Out Of Bullets But Not Bombs. August 31st., 2010



Bernanke Out Of Bullets But Not Bombs
Michael Pento
Federal Reserve's ability to buy assets and spark inflation is unlimited.


Five More True Tales From A Tax Lawyer
Robert W. Wood
Tilting at windmills and convincing the IRS that a client's ex-girlfriend deep-sixed his paperwork.
 
How To Stop The IRS Machine
Claudia A. Hill
IRS computers grind out lots of incorrect notices demanding more tax. Here's how to fight the IRS computer matching machine.
When To Pay A Financial Pro
Liz Davidson
Sometimes, you can save money by doing it yourself. Here's help deciding when you need professional tax, estate or financial planning help.
 
Retirement Planning Simpler If You Ignore The News
Laura F. Dogu
Don't worry about the Dow or home sales. Instead, automate savings, stay out of debt and make sure your documents are in order.

GATA : THE GATA DISPATCH: Robert Kientz: Gold, silver market suppression failures flash buy signal. August 31st., 2010

Robert Kientz: Gold, silver market suppression failures flash buy signal

10:57a ET Tuesday, August 31, 2010
Dear Friend of GATA and Gold:
GATA's work continues to gain recognition and credibility, as demonstrated today by a series of essays that has begun to be posted at Seeking Alpha by Robert Kientz, an auditor and former broker and currency market analyst. The essays are titled "Gold and Silver Market Suppression Failures Flash Buy Signal" and you can find the first part at Seeking Alpha here:
http://seekingalpha.com/article/223037-gold-and-silver-market-suppressio...
And Part 2 here:
http://seekingalpha.com/article/223091-gold-and-silver-market-suppressio...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

 Join GATA here:
Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/index.php/toronto-resource-investmen...

The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
http://www.silversummit.com/

New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...

* * *
Support GATA by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
http://www.goldrush21.com/
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:

http://www.gata.org/node/16

The Washington Post Breaking News : Afghanistan's Central Bank takes control of top private bank. August 31st., 2010



Breaking News Alert: Afghanistan's Central Bank takes control of top private bank August 31, 2010 ----------------------------------------

Afghanistan's Central Bank has taken control of the Kabul Bank, which is partly owned by President Hamid Karzai's brother and has been beset by corruption allegations. The intervention aims to shore up Afghanistan’s largest private bank, whose faltering finances threatened to wreak both economic and political havoc.

Kabul Bank handles salary payments for Afghan soldiers, police and teachers, and has taken in more than $1 billion in deposits from ordinary Afghans. U.S. officials have long worried that trouble at the bank could trigger financial mayhem, a prospect that would leave Afghan security forces without pay, threaten unrest by angry -- and often armed -- depositors, and gravely undermine President Obama's entire Afghan strategy.

The Central Bank has also ordered Kabul Bank's chairman to hand over $160 million worth of luxury villas and other property purchased in Dubai for well-connected insiders, according to Afghan bankers and officials.

http://link.email.washingtonpost.com/r/7CWL7Z/LQQO3B/SHKQKD/R2G1AZ/MBDUB/9A/h


For more information, visit washingtonpost.com

MarketWatch Special Financial Services: MarketWatch First Take : Problem Banks? What Problem?. August 31st., 2010

MarketWatch
: FINANCIAL SERVICES
 
MarketWatch First Take: Problem banks? What problem?
 
By MarketWatch


You’re heard the expression “failing upward” to describe that bungling colleague who always seems to advance for whatever reason. Now, it apparently applies to banks, writes David Weidner. 

MarketWatch: Special Financial Services Financial Stocks: Financials Rise After Data as Fed Minutes On Tap

MarketWatch
 
 FINANCIAL SERVICES
 
 
By MarketWatch


Financial stocks are higher Tuesday morning after reports show improvement in U.S. home prices and consumer confidence as investors awaited the release of the minutes of the Federal Reserve’s meeting in July. 

FOX BUSINESS : Breaking Business News: Cosumer Confidence Up . August 31st., 2010

FOX BUSINESS.

Consumer Confidence
Consumer Confidence Up Lifted by a mild improvement in the short-term outlook, consumer confidence rose modestly in August.

THE MOST POWERFUL NAME IN BUSINESS NEWS

Data Inspire Turnaround on Wall Street

The Dow climbed out of an early hole and retook the 10000 level after confidence data.

Home Prices Creep Up

Thanks to a lingering boost from tax credits, home prices gained more than expected in June.| WATCH

Dell Expected to Bow Out of Bidding War

Analysts expect Dell to exit the bidding war with HP for 3Par because of the increased price tag.

Google Acquires Social Deck

The company continues to build its social-networking efforts by buying the producer of social games.

CFTC Press Releases: Rules Regarding Retail Forex Transactions / CFTC To Begin Releasing Index Investment Data. August 31st., 2010


The following General press releases have been published:
See the CFTC Press Room for the latest news and events or Press Room Archives for previous releases.

FOX BUSINESS : BREAKING BUSINESS NEWS : Home Prices Creep Up . August 31st., 2010

FOX BUSINESS

Home Sales Sign 276
Home Prices Creep Up Prices of single-family homes gained more than expected in June reflecting the lingering boost from homebuyer tax credits that ended in April.



THE MOST POWERFUL NAME IN BUSINESS NEWS



Futures Cut Losses on Housing Data

Premarkets trimmed their losses on a stronger-than-expected report on home prices in major cities.

Dell Expected to Bow Out of Bidding War

Analysts expect Dell to exit the bidding war with HP for 3Par because of the increased price tag.

Discounts to Boost Retail Sales

Retailers are expected to show modest growth for August thanks to heavy discounts.

Google Acquires Social Deck

The company continues to build its social-networking efforts by buying the producer of social games.