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Dec 22, 2010

CNBC ; Evening Brief.- We Are Not Doomed to Endless Gridlock': Obama



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Financial & Forex Info News | KITCO NY Metals market at close

Financial & Forex Info News ( F & F I N )



 



New York Market Close Dec 22/10 05:20 PM EST
Metals
Bid
Ask
Change
Low
High
Gold
1385.00
1386.00
-0.50
-0.04%
1382.10
1392.10
Silver
29.23
29.25
-0.14
-0.48%
29.17
29.49
Platinum
1723.00
1728.00
2.00
0.12%
1720.00
1740.00
Palladium
749.00
754.00
-3.00
-0.40%
749.00
764.00

Stocks Eke Out Slim Gains On Another Light Trading Day - U.S. Commentary | RTTNews Evening Market Wrap

Evening Market Wrap Wed Dec 22  2010

Commentary

Dec 22, 2010 Stocks Eke Out Slim Gains On Another Light Trading Day - U.S. Commentary Stocks edged higher on yet another lackluster session Wednesday, with low volume persisting ahead of the Christmas holiday weekend. Traders largely remained away from their desks, resulting in a lack of reaction to the final reading on third quarter GDP and data on existing home sales. Full Article

Economic News

Dec 22, 2010 U.S. Economy Expanded By 2.6% In The Third Quarter While a report released by the Commerce Department on Wednesday showed that U.S. economic activity in the third quarter increased faster than previously estimated, the pace of growth in the quarter was not upwardly revised by as much as economists had anticipated. The report showed that gross domestic product increased at an annual rate of 2.6 percent in the third quarter compared to the previously reported 2.5 percent growth. Full Article
Dec 22, 2010 U.S. Existing Home Sales Rebound But Still Down Sharply Year-Over-Year Existing home sales in the U.S. showed a notable increase in the month of November, according to a report released by the National Association of Realtors on Wednesday, with the increase in sales more than offsetting the decrease seen in the previous month. NAR said existing home sales rose 5.6 percent to an annual rate of 4.68 million in November from an unrevised rate of 4.43 million in October. Full Article

Corporate News

Dec 22, 2010 Airgas Rejects Air Products' Sweetened BidSpecialty gas company Airgas, Inc. (ARG) on Wednesday said that its board of directors has unanimously rejected a sweetened $70 per share takeover bid by rival Air Products & Chemicals, Inc. (APD), terming it as "inadequate". The board also recommends stockholders not to tender their shares into Air Products' revised offer. Radnor, Pennsylvania-based Airgas said its board unanimously concluded that the $70 per share offer is clearly inadequate and that the company's value in a sale at the current point of time is at least $78.00 per share. Full Article
Dec 22, 2010 Walgreen Q1 Profit Rises 19%, Tops Street ViewDrugstore chain operator Walgreen Co. (WAG) reported Wednesday a 19% year-over-year increase in profit for the first quarter, boosted by margin expansion and revenue growth amid higher prescription sales. Earnings per share for the quarter rose 26.5%, and topped analysts' expectations by eight cents, and quarterly revenues increased 6%, and beat their estimates by a whisker. Full Article
Dec 22, 2010 Navistar Posts Lower Profit In Q4Trucks and other vehicles maker Navistar International Corp. (NAV) Wednesday reported lower fourth-quarter profit despite revenue growth, hurt by charges related to its new UAW contract, higher costs and expenses and a wider loss from equity in non-consolidated affiliates. Fourth-quarter net income attributable to the company was $39 million, compared with $86 million last year. On a per share basis, profit declined to $0.54 from $1.19 in the prior-year quarter. Full Article
Dec 22, 2010 DP World Sells 75% Of Australian Unit To Citi Infrastructure For $1.5 BlnMarine terminal operator DP World Limited, where Dubai World (DPWRF.PK) has a significant stake, is selling 75% of its holding in DP World Australia to Citigroup Inc.'s (C) Citi Infrastructure Investors, the company said Wednesday. DP World will receive about $1.5 billion from the deal in total proceeds, aimed at reducing debt. The transaction has an enterprise value of A$1.817 billion. Full Article

Forex Commentary

Dec 22, 2010 Dollar Holds Recent Gains Against Euro, Sterling The dollar remained relatively string against other majors on Wednesday, as traders bet the American economy is slowly getting back on solid footing. U.S. economic activity in the third quarter increased faster than previously estimated, but the pace of growth was not upwardly revised by as much as economists had anticipated, official data showed Wednesday. Full Article

Political News

Dec 22, 2010 Senate Ratifies New START Treaty, Passes 9/11 Health BillThe U.S. Senate Wednesday voted to ratify a new nuclear weapons reduction and monitoring treaty with Russia. With a vote of 71 to 26, the measure known as New START, the successor to the expired Strategic Arms Reduction Treaty of 1991, received more than the two-thirds majority required for ratification. Also on Wednesday, the Senate reached an agreement to advance a bill providing for health care and compensation to the first responders of the September 11th terrorist attacks. Full Article
Dec 22, 2010 Senate Approves $725 Billion Defense Spending BillAs the busy lame duck session of Congress winds down, the Senate Wednesday approved a defense spending bill, authorizing the Pentagon to spend $725 billion in fiscal 2011, including nearly $160 billion to fight the wars in Iraq and Afghanistan. Full Article
Dec 22, 2010 Obama Signs Repeal Of "Don't Ask, Don't Tell"President Barack Obama Wednesday signed a bill repealing the military's ban on gay men and lesbians serving openly in the U.S. armed forces. The policy, known as "Don't Ask, Don't Tell," has been in place since the Clinton Administration and its repeal is seen as a major victory for Obama's liberal supporters. Speaking at a signing ceremony at the Department of the Interior, Obama said that he was both overwhelmed and proud to repeal the ban. Full Article

Bank hits out at ASIC over Storm | Financial & Forex Info News ( F & F I N ) | The Australian Business Briefing





 
Bank hits out at ASIC over Storm
Storm Financial Andrew Fraser ONE of the main banks targeted by ASIC over the collapse of Storm Financial has hit back strongly at the regulator.
Wall St firm as Nasdaq hits 3-yr peak
Wall St UPDATED Donna Kardos Yesalavich US stocks closed at fresh two-year highs today, as bank stocks continued to benefit from recent merger activity.
DP World reaps $1.5bn in port sell-off
DP World Tracy Lee DP World has sold the majority of its interests in Australia's five main container port terminals to Citi Infrastructure Investors.
Rebel investors fire up gas, energy junior
Bruce Mathieson Damon Kitney DISSIDENT shareholders led by Max Beck and Bruce Mathieson are seeking to shake up the board of junior oil and gas company Molopo Energy.
Heathrow airport CEO gives up bonus
Heathrow winter Jonathan Buck and Kathy Gordon THE CEO of UK airports operator BAA says he will give up his bonus in the face of widespread criticism during the deep freeze.
India bans onion exports
India Prasanta Sahu and Banikinkar Pattanayak INDIA has imposed an indefinite ban on onion exports and scrapped a 7 per cent import tax after a sharp rise in prices in the past few weeks.
Shoppers love doing it for themselves
shoppers love Blair Speedy WHEN retailers talk about improving service levels, they usually mean having more staff on hand to deal with shoppers' needs.
Revolt casts shadow on Kresta
theatre curtain Damon Kitney AUSTRALIA'S biggest blind and curtain manufacturer, Perth-based Kresta Group, is embroiled in a boardroom stoush.
Financial Markets
Wall St firm as Nasdaq hits 3-yr peak
Wall St UPDATED Donna Kardos Yesalavich US stocks closed at fresh two-year highs today, as bank stocks continued to benefit from recent merger activity.
Gold drifts as traders square books
Europe rises three days running
Financial Markets Coverage
Mining & Energy
Gold drifts as traders square books
gold Tatyana Shumsky GOLD settled slightly lower today amid quiet trade and end-of-the-year book squaring.
Packer's game, Forrest twigs: gold
Burrup Fertilisers receivers give comfort
More Mining & Energy Coverage

S&P ends up, highest since Lehman's fall | Financial & Forex Info News ( F & F I N ) | Daily Investor Update




FROM : News



LATEST NEWS
S&P ends up, highest since Lehman's fall
NEW YORK (Reuters) - The S&P 500 rose on Wednesday to its highest level since the collapse of Lehman Brothers, led by bank stocks that have leapfrogged other sectors in December. | Full Article

Home sales bounce back, 3rd-quarter GDP raised
December 22, 2010 02:10 PM ET
WASHINGTON (Reuters) - Sales of previously owned U.S. homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter performance. | Full Article
France wants closer euro zone economic policy: report
December 22, 2010 03:40 PM ET
BERLIN (Reuters) - France wants all 16 euro zone governments and any other interested European Union members to coordinate their economic policy more closely in the future, Economy Minister Christine Lagarde told a German newspaper. | Full Article
Hedge fund manager Falcone sued over stock swap
December 22, 2010 02:30 PM ET
BOSTON (Reuters) - A lawsuit filed against Philip Falcone charges that the investor took advantage of his position in engineering a stock swap between his hedge fund and a small publicly traded company that he also controls. | Full Article
JPMorgan tops fee pool, equity business takes hit
December 22, 2010 02:53 PM ET
LONDON (Reuters) - JPMorgan took a hit in its equity capital markets business in 2010 even though its dominance in debt markets allowed it to cling on to the global top spot for investment banking fees. | Full Article
US TOP NEWS
Senate passes health bill for 9/11 rescuers
December 22, 2010 03:31 PM ET
WASHINGTON (Reuters) - A bill to provide medical care for firefighters and other responders to the September 11, 2001 attacks passed the Senate on Wednesday after backers struck a deal to end a Senate Republican blockade of the measure. | Full Article
Senate ratifies nuclear arms treaty with Russia
December 22, 2010 03:18 PM ET
WASHINGTON (Reuters) - The Senate approved a landmark nuclear arms control treaty with Russia on Wednesday, handing President Barack Obama a major foreign policy victory in his drive to improve ties with Moscow and curb the spread of atomic weapons to other nations. | Full Article
U.S. military to allow gays, but rules will take time
December 22, 2010 11:33 AM ET
WASHINGTON (Reuters) - President Barack Obama on Wednesday signed a landmark law to allow gays and lesbians to serve openly in the U.S. military for the first time, but it could be many months before a move some top officers warn may endanger troops will finally take effect. | Full Article
North silent as South Korean army prepares to hold drill
December 22, 2010 01:21 PM ET
SEOUL (Reuters) - South Korea announced land and sea military exercises on Wednesday including a major live-fire drill near North Korea just as tension on the peninsula was beginning to ease after Pyongyang's attack on a southern island. | Full Article
Apple drops WikiLeaks app, Google keeps it
December 22, 2010 02:03 PM ET
BOSTON (Reuters) - Apple Inc has joined a growing number of U.S. companies that have severed ties with WikiLeaks, removing an application from its online store that gave users access to the controversial website's content. | Full Article
HEALTH NEWS
Teen birthrate hits new low amid overall drop
New kind of HIV drug stalls infection in trial
Merck's Gardasil wins approval for anal cancer
Fewer pediatricians, more ruptured appendixes
Fatty acid in dairy foods may lower diabetes risk








NYT | Afternoon Business | Afternoon Business News : U.S. Challenges China's Wind Power Equipment Aid



BUSINESS

U.S. Challenges China's Wind Power Equipment Aid

By SEWELL CHAN
Washington asked for World Trade Organization talks after accusing Beijing of granting illegal subsidies.

Wall St. Computers Read the News, and Trade on It

By GRAHAM BOWLEY
Traders are using software to track news, blogs and even Twitter posts to identify shifts in market sentiment.
App Smart

Top Picks for Apps to Help You While Away the Minutes

By BOB TEDESCHI
Many apps are available to entertain every moment, wherever you are. You don't have to be sitting on the dock of the bay.
Media Decoder Blog

Time Inc. Installs New Senior Management in Shake-Up

By JEREMY W. PETERS
Time Inc.'s new chief executive, Jack Griffin, has appointed several new senior deputies and split two of the company's largest magazine segments into separate divisions.
Media Decoder Blog

Approval Talks Delay Comcast-NBC Deal

By BILL CARTER and BRIAN STELTER
The long-awaited completion of the takeover of NBC Universal by Comcast will have to wait until the new year.

Entities That May Be Conducting Banking Operations in Canada and/or the United States Without Authorization: FDIC Special Alert


Special Alert


SA-154-2010
December 22, 2010




TO: CHIEF EXECUTIVE OFFICER (also of interest to Security Officer)
SUBJECT: Entities That May Be Conducting Banking Operations in Canada and/or the United States Without Authorization
Summary: The Office of the Superintendent of Financial Institutions of Canada has identified Sunova Credit Union, operating as Hubert or Happysavings.ca, as entities that may be illegally operating as financial institutions.


The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published a "Warning Notice" (Issue No. 89) containing the names listed above. This Warning Notice can be found at http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_89_e.pdf .
Sunova Credit Union ("Sunova"), operating as Hubert or Happysavings.ca, appears to be engaged in unauthorized deposit taking in the provinces of Saskatchewan and Nova Scotia. The authorities in those provinces have issued Cease and Desist Orders to Sunova directing it to cease doing business in the provinces. In addition, this entity claims in advertising material to be "Canada's newest…online bank." Members of the public are advised that Sunova is neither a bank nor an authorized foreign bank in Canada, and is not supervised by OSFI.
Any information you have concerning this matter should be brought to the attention of following authorities:

Superintendent of Financial Institution of Manitoba
Regulation Branch
1115-405 Broadway Avenue
Winnipeg, Manitoba R3C 3L6

or

Registrar of Credit Unions
Saskatchewan Financial Services Commission
Suite 601
1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Information about counterfeit items, cyber-fraud incidents and other fraudulent activity may be forwarded to the FDIC's Cyber-Fraud and Financial Crimes Section, 550 17th Street, N.W., Room F-4004, Washington, D.C. 20429, or transmitted electronically to alert@fdic.gov. Questions related to federal deposit insurance or consumer issues should be submitted to the FDIC using an online form that can be accessed at http://www2.fdic.gov/starsmail/index.asp.
For your reference, FDIC Special Alerts may be accessed from the FDIC's website at http://www.fdic.gov/news/news/specialalert/2010/index.html. To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.
Sandra L. Thompson
Director
Division of Supervision and Consumer Protection

Distribution: FDIC-Supervised Banks (Commercial and Savings)

The Washington Post Breaking News AlertSenate ratifies nuclear arms treaty with Russia:



Breaking News Alert: Senate ratifies nuclear arms treaty with Russia
December 22, 2010 ----------------------------------------

In a major foreign-policy victory for President Obama, the U.S. Senate on Wednesday voted 71 to 26 to ratify the New START treaty with Russia, the broadest nuclear arms-reduction pact between the former Cold War foes in nearly two decades.



For more information, visit washingtonpost.com

NFA permanently bars New Jersey firm Maxtak Capital Advisors LLC from NFA membership.


The Washington Post Afternoon Edition: Today's Most Read articles.-China replaces senior Foreign Ministry official.

Washington Post

1) China replaces senior Foreign Ministry official

BEIJING -- China has replaced a top diplomat amid a trend toward greater assertiveness in handling territorial disputes and participating in global organizations.

2) CIA launches task force to assess impact of U.S. cables' exposure by WikiLeaks

The CIA has launched a task force to assess the impact of the exposure of thousands of U.S. diplomatic cables and military files by WikiLeaks.

3) At Charleston's Secession Ball, divided opinions on the spirit of S.C.

CHARLESTON, S.C.- "Dixie," that emotionally freighted and much-debated anthem of the old Confederacy, starts soft when it's done right, barely above a whisper. But each sotto voce syllable of the opening verse, each feather-light scrape of the fiddle strings, could be heard without straining whe...

4) Rex Grossman might not be a star, but he might be what Mike Shanahan wants

Jake Plummer. That's what's really interesting about Rex Grossman and the Shanahans. Will Rex become Jake II, the reclamation project, thought to be a bad joke, that confirms and showcases the coach's brilliance? After Grossman's four-touchdown, three-turnover show in a 33-30 loss to Dallas on Su...

5) Obama signs DADT repeal before big, emotional crowd

President Obama signed the landmark repeal of the military's "don't ask, don't tell" policy Wednesday morning, handing a major victory to advocates of gay rights and fulfilling a campaign promise to do away with a practice that he has called discriminatory.

6) The rise of the Petulant Party

Mitch McConnell and his friends in the Petulant Party want their figgy pudding.

7) CIA to examine impact of files recently released by WikiLeaks

The CIA has launched a task force to assess the impact of the exposure of thousands of U.S. diplomatic cables and military files by WikiLeaks.

8) Look, up in the sky it's a rare lunar eclipse

The moon offered a rare light show in the very early hours of Tuesday that was more spectacular than even the most elaborate holiday light displays.

9) Snow on Christmas? A rarity, but you can always dream.

Many people wonder what Christmas will bring, but few know better what it has brought than the forecasters with the National Weather Service. Dec. 25 in Washington has produced temperatures as frightfully frigid as 3 degrees and as stunningly sultry as 72, they said Tuesday.

10) Parents of NJ student who killed himself to sue

NEW BRUNSWICK, N.J. -- The parents of a Rutgers University student who killed himself after his roommate allegedly used a webcam to spy on him during a tryst with another man have filed notice that they intend to sue the school.

: No Christmas miracle for the housing market: MarketWatch - Personal Finance Daily

MarketWatch
Personal Finance Daily
DECEMBER 22, 2010

Wednesday's Personal Finance Daily

By MarketWatch



Don't miss these top stories:
Existing-home sales rose 5.6% in November, compared with October sales, according to statistics from the National Association of Realtors released on Wednesday.

It's not exactly a Christmas miracle: November existing-home sales were still 27.9% below sales from November 2009.

But the November 2010 figures raise the seasonally adjusted annualized rate of sales up to 4.68 million, slightly higher than economists expected. It's also the third rise in four months, which also suggests a modest recovery in the housing market is continuing.

Read more in today's Personal Finance pages, including why the Santa Claus rally is about to begin.

Another report out on Wednesday from the Federal Housing Finance Agency found that prices rose a seasonally adjusted 0.7% in October. Remember, that's a national figure and not an indication that prices are recovering in every single corner of the country.

But at least it's a step in the right direction.

Amy Hoak , Real Estate writer
Existing-home sales climb 5.6% in November

The modest recovery in the housing market continued in November, as sales of existing homes rose 5.6%, according to a report released Wednesday.
Read more: Existing-home sales climb 5.6% in November.

ECONOMY & POLITICS

U.S. third-quarter growth revised up to 2.6%

The largest global economy tallies a 2.6% growth rate for the September quarter, according to the government's final revision. This was slightly faster than the growth previously reported, primarily a reflection of companies adding more inventory, but it fails to measure up with analysts' growth expectations.
Read more:U.S. third-quarter growth revised up to 2.6%.

Commentary: The real Santa Claus rally's about to begin

The stock market over the last couple of centuries has exhibited particular strength between Christmas and New Years. And, since that strength has been most pronounced in countries that celebrate Christmas, this strength can genuinely go by the name "Santa Claus Rally."
Read more: The real Santa Claus rally's about to begin.

Markets aren't the answer to every problem

Turning every human interaction into a financial relationship can destroy our urge to do the right thing, writes Rex Nutting.
Read more: Markets aren't the answer to every problem.

Commentary: Chris Christie: More a hack than revolutionary

The experience of Chris Christie, elected governor of the Garden State last year, will speak volumes about how to handle deficits at the state level.
Read more: Chris Christie: More a hack than revolutionary.

PERSONAL TECH

Commentary: Why I don't want an iPad for Christmas

Everyone wants an iPad this Christmas, right? Apple‘s tablet computer is this year's hottest adult toy. Sales are booming. James Cordwell, an analyst at Atlantic Securities, expects the company to sell 6 million this quarter, half of them here in the U.S. It's driving the company toward what will probably be yet another blowout Christmas period.
Read more:Why I don't want an iPad for Christmas.

WikiLeaks, not Facebook, defines 2010

When it comes to defining 2010, one story stands out as the most newsworthy: WikiLeaks, writes Jon Friedman.

INTERNATIONAL

Greece hit by strike ahead of budget vote

Greek transport workers stage a 24-hour strike and union workers demonstrate in Athens as lawmakers prepare to vote on a 2011 budget plan that implements additional austerity measures.
Read more: Greece hit by strike ahead of budget vote.

Financial & Forex Info News | Kitco: - London Fix Metals Market Report






London Fix Wed Dec 22 00:00:00 EST 2010
Metals Gold Silver Platinum Palladium
  AM PM AM PM AM PM AM PM
USD 1389.00 1387.00 29.35 1725.00
1728.00
755.00 757.00
UK 898.33 900.42 18.98 1115.40
1119.90
488.20 490.60
EURO 1056.68 1059.91 22.32 1310.30
1317.05
573.50 577.00