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Mar 4, 2011

From The Desk Of Nick Nicolaas: Adam Hamilton Zeal Intelligence Newsletter

Dear Friends:
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:

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A selection of new stories from THE ECONOMIST

March 4th 2011

Free exchange considers the statistical puzzles posed by America's recovery

Asia view on Japan's budget battle

Blighty looks at Rupert Murdoch's BSkyB deal

Babbage examines Vietnam's curfew for online gaming

Prospero points to Detroit's beautiful ruins

Bagehot looks at whether a nationalist protest vote has emerged in Britain

Buttonwood on health costs and life expectancy

Online debate: 58% of voters believe that "the internet is inherently a force for democracy"

MarketWatch | Weekly Roundup: Top Stories Of The Week Feb 24 to March 4


Weekly Roundup
MARCH 04, 2011

Top MarketWatch stories of the week

News and Commentary from Feb. 24 to March 4

By MarketWatch

NEW YORK (MarketWatch) — It was a week in which fear about rising oil prices retook center stage, yet the stock market was only modestly affected.

For the week, the Dow (DJIA)  ended up 0.3%, the S&P 500 (SPX) gained 0.1% and the Nasdaq Composite (COMP) also edged 0.1% higher.

Oil futures finished the week up 6.7%, rising on persistent worries that turmoil in Libya could disrupt global supplies. Crude for April delivery rose $2.51, or 2.5% on Friday, to $104.42 a barrel in New York, marking the highest settlement since the start of the financial crisis in 2008.

The same concerns that dogged stocks and lit up oil also lifted gold this week. The yellow metal added 1.4% over the last five trading sessions.

This weekend, keep abreast of world financial news and commentary. Don't miss our Weekend Investor feature , which looks at the opportunities and risks of investing in food commodities. And watch our videos on the top events coming up in the U.S., Europe and Asia.

— Greg Morcroft, assistant managing editor

Economic Report: 192,000 jobs added; unemployment rate dips to 8.9%

After months of disappointment, the U.S. labor market showed signs of vigor in February as job growth accelerated and the unemployment rate fell for the third straight month.Nonfarm payrolls grew by a seasonally adjusted 192,000 in the month, the fastest pace since last May. Wall Street was hoping for an even better report. The payrolls growth came in below than the 218,000 increase expected by economists surveyed by MarketWatch. Read MarketWatch coverage of labor report

Top farm lobbyist sees good times, tough challenges

Things are looking pretty sunny in U.S. farm country as spring approaches and a new growing season begins. Crop prices are soaring, farm income is rising, and demand for American agricultural products is growing faster than farmers can plant their crops. The Agriculture Department is forecasting that new records will be reached this year for agricultural exports, farm cash receipts and net farm income; that higher land values will lighten much of the load of farm debt; and that U.S. producers will continue to enjoy a seller's market for some time.But the largest farm lobbying group in the country isn't taking anything for granted. Read interview with chief of American Farm Bureau on MarketWatch

Paul B. Farrell: Four time bombs that will blow up Wall Street

Put Goldman Sachs CEO Lloyd Blankfein in jail for six months, and all this will stop, all over Wall Street and America, a former congressional aide tells Rolling Stone magazine. Everyone knows Wall Street's run by a bunch of dictators who are doing more damage to democracy and capitalism than North Africa's dictators. But jail the CEOs of Goldman (GS) , Citi (C) , B. of A. (BAC) or my old firm Morgan Stanley? Too late. Only a revolution will stop Wall Street's self-destructive capitalism. Read MarketWatch columnist Paul B. Farrell

Commodities Corner: $100 oil: Here to say or soon to go?

Market veterans were expecting oil prices to reach $100 a barrel even before the political turmoil in the Middle East and North Africa hit the fan this year, and now that oil's reached triple digits, predicting prices is more daunting than ever. After all, oil's trading landscape is more littered than ever with the dreaded "what if" scenarios involving uncertainty over global oil supplies and production, inflation, and economic and political instability. In other words, there are lots of reasons $100 may be a new norm for oil and lots of reasons why it might not be. Read Myra Saefong's Commodities Corner on MarketWatch

Apple moves to extend lead with new iPad

Steve Jobs made a surprise appearance for the unveiling of the iPad 2 Wednesday as Apple Inc. (AAPL) moved to cement its strong lead in a market that's drawing competitors from across the mobile-device and PC sectors.At an event in San Francisco, Apple the newest version of the device will feature a front-facing video camera, slimmer design and lighter body weight. The iPad 2 also comes with a faster, dual-core chip — dubbed A5 — that was designed by Apple. Jobs, who has been on medical leave for an unspecified condition since mid-January, touted the company's strong lead in the tablet market and predicted that the latest iPad would maintain the company's strong position. "I didn't want to miss this," Jobs quipped in opening the event. Read Market Watch coverage of Apple's iPad 2 rollout

Peter Brimelow: What is gold's climb really telling us

Gold reaches a record high. Is it telling us something? Gold closed $1437.70 on Wednesday, using the CME April contract as the measure, up $28.40 so far this week and breaking through significant technical barriers. Over the weekend, Australia's The Privateer had growled: "Just as it has since early November 2010, the area between $1,400 and $1,425 is proving a firm ‘ceiling' for gold." The Gartman Letter was more direct on Tuesday: "Someone … or something … has kept a virtual lid on the gold market at or near $1,414-$1,416 for the past many months and has certainly been at work for the past two weeks making certain that gold does not push upward through that level." Consequently the new, adjusted gold chart looks very exciting. Read Peter Brimelow column on god's direction ,on MarketWatch

The Fed: Bernanke: Inflation will be modest, temporary

Ben Bernanke stuck his neck out on Tuesday and said the increase in inflation from the spike in oil prices will be modest and temporary. "The most likely outcome is that the recent rise in commodity prices will lead to, at most, a temporary and relatively modest increase in U.S. consumer price inflation," the Federal Reserve chairman told the Senate Banking Committee. Bernanke, appearing before Congress for his twice-a-year testimony on monetary policy, has been trying to throw cold water on market fears about inflation. Read MarketWatch overage of Bernanke testimony in Washington this week

David Callaway: Oil-price surge not a recovery killer

The sudden surge in oil prices in response to turmoil in Northern Africa and the Middle East has shocked the stock market out of its winter carnival, but a new, oil-led bear market is not on the horizon. After three straight months of gains, the market was looking for an excuse to rest, and a jump in oil above $100 a barrel and then $102 a barrel on Wednesday seemed just the thing to rattle some nerves. Gold's recent move to all-time highs didn't help. It will take a lot more than unrest in Libya — despite its holdings of sweet crude — to crank speculation in oil back to the record levels approaching $150 it reached in 2008. A much bigger paralysis to oil supplies or geopolitical revolution would have to occur, and so far protesters in Iran and even in China aren't up to the task. Read MarketWatch Executive Editor David Callaway's take on crude and stocks

Tax breaks for health-care costs

Congress and the IRS didn't do much, in 2010, to ease our tax-bill pain with medical-expense deductions, but a few groups including new mothers, the self-employed and some state residents will get a little extra relief. And a quiet year for tax changes offers a good opportunity to review the rules, especially if you had higher-than-usual medical and dental bills or you paid expensive Cobra premiums, and it's always a good prescription to plan ahead for savings next year, experts say. Read MarketWatch TaxWatch

NYT: Afternoon Business News: The Chasm Between Consumers and the Fed


Power of Apparel: A Look That Conveys a Message

Top-flight executives can have stylists select their look. But some opt for simplicity as the ultimate power suit.
Off the Charts

The Chasm Between Consumers and the Fed

Higher gas and commodity prices are worrying consumers, but the Federal Reserve says inflation is tame.

China Reportedly Plans Strict Goals to Save Energy

The five-year goal reflects concerns about the effects of high fuel costs on national security, inflation, trade and pollution.

Doubt Cast on Renault Spying Charges

Has the French carmaker been the victim of industrial espionage, an elaborate hoax or internal score-settling?

EADS Won't Protest Loss of Tanker Contract to Boeing

The European Aeronautic Defense and Space Company said that it planned to pursue other work from the Pentagon in order to build its American operations.

Financial And Forex Info | Reuters - Daily Investor Update: Wall St ends the week flat as oil prices weigh


Wall St ends the week flat as oil prices weigh
NEW YORK (Reuters) - Wall Street erased most of its weekly gains on Friday as fears of more geopolitical turmoil and higher oil prices threaten to stifle rallies in coming weeks. | Full Article

Employment rebounds from winter gloom
March 04, 2011 03:28 PM ET
WASHINGTON (Reuters) - Employers hired workers at the fastest pace in nine months in February and the jobless rate slipped to a nearly two-year low of 8.9 percent, showing the economy is finally kicking into a higher gear. | Full Article
U.S. plans audiotapes of Rajaratnam-Gupta conspiracy
March 04, 2011 03:01 PM ET
NEW YORK (Reuters) - Federal prosecutors said they plan to introduce audiotape evidence at next week's trial of Raj Rajaratnam showing that the Galleon Group founder conspired with former Goldman Sachs Group Inc director Rajat Gupta to get inside tips about the Wall Street bank. | Full Article
Oil rises on Libya clashes, Mideast unrest
March 04, 2011 03:56 PM ET
NEW YORK (Reuters) - Brent oil prices pushed back above $116 a barrel and U.S. oil hit its highest since September 2008 on Friday, as fighting in Libya intensified and threatened the country's oil sector. | Full Article
Regulators battle Wall Street for brains, money
March 04, 2011 12:13 PM ET
WASHINGTON (Reuters) - Long outgunned by Wall Street's big brains and big budgets, U.S. financial regulators are hoping to close the gap -- if they get the money to do it. | Full Article
Libyan forces fight for town in west, rebels in east
March 04, 2011 03:36 PM ET
AJDABIYAH, Libya (Reuters) - Muammar Gaddafi's forces fought their way into a rebel-held western town on Friday, but rebels said they had captured the eastern oil town of Ras Lanuf, extending their hold on eastern Libya. | Full Article
Libyan deputy minister says government accepts Chavez plan
March 04, 2011 03:29 PM ET
TRIPOLI (Reuters) - Libyan Deputy Foreign Minister Khaled Kaim said on Friday the government had accepted a peace initiative put forward by Venezuelan President Hugo Chavez. | Full Article
Senate to debate rival spending bills next week
March 04, 2011 03:04 PM ET
WASHINGTON (Reuters) - Senate Democrats on Friday pushed for a vote next week on their new proposal to trim $6 billion from spending while protecting President Barack Obama's healthcare overhaul and other priorities. | Full Article
Wisconsin governor prepares layoffs amid standoff
March 04, 2011 01:29 PM ET
MADISON, Wisconsin (Reuters) - A "frustrated" Wisconsin Governor Scott Walker was poised on Friday to issue layoff notices to 1,500 state workers, blaming the move on a two-week standoff over his bill to curb union collective bargaining rights. | Full Article
NFL and union extend talks for another week
March 04, 2011 04:04 PM ET
WASHINGTON (Reuters) - The NFL and the players' union agreed to extend talks on a new collective agreement for another week, raising hopes a fresh deal could be struck and a lockout avoided. | Full Article

MarketWatch: Personal Finance Daily: Lapse in life insurance adds tragedy to loss.

Personal Finance Daily
MARCH 04, 2011

Friday's Personal Finance Stories

By MarketWatch

Don't miss these top stories:
Is this one of your worst nightmares? For years, you and your spouse dutifully pay for life insurance on your mortgage. Then, one day, your mortgage is sold to a new servicer, you don't find out in time, your mortgage life insurance lapses — and the unthinkable happens. Your spouse dies. Is this a paperwork snafu with tragic consequences or negligence on the servicing end of the mortgage market? In his Realty Q&A column today, Lew Sichelman offers some suggestions about what to do before filing a lawsuit.

Also in today's Personal Finance lineup, Jennifer Waters reports on the best ways to find those elusive and increasingly rare airfare deals.

Anne Stanley , Managing Editor, Personal Finance


Mortgage life insurance snafu hits home

When one reader's mortgage was sold to another servicer, life-insurance payments weren't paid out of the escrow account — and this homeowner is now ready to sue. Lew Sichelman explains steps to take before taking them to court.
Read more: Mortgage life insurance snafu hits home.


Eight tips for finding cheap airfares

Say good bye to super-cheap fares, but there still are deals to be found if you're flexible, patient and know where to find them.
Read more: Eight tips for finding cheap airfares.


Tax refunds, incorrect 1099s and other tax tips

The IRS has $1.1 billion in unclaimed tax refunds from 2007. Don't let that happen to you. Plus, what you need to know about incorrect 1099s, gift taxes and more.
Read more: Tax refunds, incorrect 1099s and other tax tips.


Where to put your cash now

It is a simple question, but the answer has rarely been so complicated: Where should you park your cash?
Read more: Where to put your cash now.

Grow-up insurance is Chuck Jaffe's stupid investment of the week

Life insurance on children is the stupid investment of the week.
Read more: Grow-up insurance is stupid investment of the week.


U.S. adds 192,000 jobs; jobless rate dips to 8.9%

Nonfarm payrolls grow by 192,000 in February, the Labor Department says, while the unemployment rate drops to 8.9%, the lowest level since April 2009.
Read more: U.S. adds 192,000 jobs: jobless rate dips to 8.9%.

Reactions to February payrolls report

The White House, lawmakers and analysts react to news that nonfarm payrolls grew by 192,000 in February, and the U.S. jobless rate fell to 8.9%.
Read more: Reactions to February payrolls report.

In charts: Jobs, unemployment, earnings and more

A graphical analysis of the payrolls report shows improving payrolls, declining unemployment, but still modest growth in earnings.
See charts: Jobs, unemployment, earnings and more.

Jobs: Good news for economy, not for markets

The strong February jobs report is unambiguously good news for the economy, but it may mean that the Fed will take away the punch bowl that's fueling the party in the markets.
Read more: Jobs: Good news for economy, not for markets.

Treasury defends TARP to a panel of critics

A top Treasury official defended the U.S. government's $700 billion bank bailout program as extremely effective in combating the financial crisis at a hearing where the effort was criticized by members of a watchdog panel who insisted that it did more for Wall Street than Main Street.
Read more: Treasury defends TARP to a panel of critics.

America is still No. 1 in manufacturing

Despite what you hear, U.S. manufacturing is still No. 1, and it's growing rapidly, writes Rex Nutting.
Read more: America is still No. 1 in manufacturing.

Prepare for transports' weakness to spread

The debate over whether oil prices have climbed enough to hurt the economy may continue, but a breakdown in the transportation sector indicates they may have already risen enough to facilitate a broader stock-market correction.
Read more: Prepare for transports; weakness to spread.

With oil, it's all about supply

As unrest spreads, investors wonder how high oil prices can go and what impact they will have, writes Howard Gold.
Read more: With oil, it's all about supply.

$100 oil: Here to stay or soon to go?

Predicting where oil prices go from here will prove to be a more daunting task than usual.
Read more: $100 oil: Here to stay or soon to go?


Lessons abound in ECB interest rate drama

Jean-Claude Trichet reminded traders the central bank takes its price-stability mandate seriously, but investors may wonder what the ECB learned from its last rate hike.
Read more: Lessons abound in ECB interest rate drama.

The Washington Post Afternoon Edition: Today's Most Read Opinion Columns: From Baghdad to Benghazi

Washington Post 

1) From Baghdad to Benghazi

Everyone is a convert to George W. Bush's freedom agenda.

2) Who had the Worst Week in Washington? Oversight Committee Chairman Darrell Issa.

Who had the Worst Week in Washington? Oversight Committee Chairman Darrell Issa.

3) The surge Afghanistan still needs

The U.S. and NATO must be prepared to provide substantial financial support to Afghan military forces.

4) The last doughboy and the emergence of a great nation

How the first world war previewed what followed.

5) Let Westboro Baptist have their hate speech. We'll smother it with peace.

All that Fred Phelps and his Westboro Baptist Church flock want is attention. For a moment, our Angel Action rally robbed them of that, when dozens of us greeted them at the trials for Matthew Shepard's killers with huge angel wings spread wide. Backs turned in silence worked great for us in Laramie

6) Note to Republicans: Cuts don't cut it

A new poll has sobering news for Republicans' "cuts, cuts, cuts" mantra.

7) The public-sector workers on which our future depends

Whatever happens in Wisconsin, let's make teaching an attractive career.

Financial And Forex Info: Reuters - Deals Today: Insider Trading Case of Raj Rajaratnam Goes to trial Next week


The sweeping insider trading case against Galleon Group hedge fund founder Raj Rajaratnam finally goes to trial next week. Rajaratnam faces up to 25 years in prison if convicted of conspiracy and securities fraud but plans to fight the charges and clear his name in court.

"All signs are pointing to a battle royal," one securities attorney said of the upcoming trial in an interview with Reuters correspondent Grant McCool. According to a Wall Street Journal report, Goldman Sachs CEO Lloyd Blankfein has agreed to testify for the U.S. government at the trial. Here's a rundown of some of the other main players involved in the case.

Should Americans be alarmed that Germany's Deutsche Boerse is taking over Big Board parent NYSE Euronext? Not really seems to be the consensus with lawmakers and regulators who took part in the Reuters Future Face of Finance Summit this week.

Fresh signs that Chrysler is getting closer to going public again. The automaker is in advanced talks with banks on financial details that will help clear the way for the initial public offering later this year, several people with knowledge of the discussions told Reuters.

"Two months into the year, M&A is off to its best start since Lehman failed and the flow of deals slowed to a trickle," writes WSJ's Stephen Grocer.

Exchange merger mania barely stirs national pride
NEW YORK (Reuters) - Foreigners swooping in to buy national stock exchanges -- those proud centerpieces of capitalism -- would surely meet fierce resistance. | Full Article

CIC official: not heard of plans to buy Glencore stake
March 04, 2011 06:14 AM ET
BEIJING (Reuters) - A senior official at China's $300 billion sovereign wealth fund said on Friday that he had not heard of any plans for the fund to buy a stake in Glencore International AG, the world's largest commodities trader, which is aiming for a potential stock market listing. | Full Article
TNK-BP board delays decision on BP-Rosneft deal
March 04, 2011 11:10 AM ET
MOSCOW (Reuters) - BP's Russian joint venture, TNK-BP , failed to resolve a shareholder row over joining the deal between BP and Rosneft before arbitration hearings start next week. | Full Article
Australia independent MP backs ASX-SGX deal
March 04, 2011 08:22 AM ET
CANBERRA (Reuters) - A key independent Australian lawmaker on Friday backed the proposed Singapore Exchange $7.7 billion bid for the Australian exchange , and said Australia should not be afraid of foreign capital. | Full Article
Exclusive: Elliott hires search firm for Actelion board
March 04, 2011 10:58 AM ET
ZURICH/LONDON (Reuters) - Activist hedge fund Elliott Advisors has hired a search firm to seek candidates to nominate to the board of Actelion , ramping up pressure on Europe's biggest biotech company, sources familiar with the situation said. | Full Article

U.S. Midday Major Indices Snapshot

                                       U.S.  Midday  Major Indices Snapshot

Major Indexes                                              
 LastChange% Chg
DJIA12160.53   -97.67  -0.80
Nasdaq2782.82   -15.92  -0.57
S&P 5001319.67    -11.30  -0.85
DJ Total Stock Market13938.88  -112.12  -0.80

Source: Wall Street Journal

New orders for manufactured goods rose 3.1% to U.S.$ $445.6 Billion | ESA

Economics and Statistics Administration LogoJanuary new orders for manufactured goods rose 3.1% to $445.6 billion.  Goods shipments rose 1.8% to $447.4 billion.  Unfilled orders were up 0.6% to $829.6 billion. Inventories rose 1.3% to $559.3 billion in January.

Mawson Resources (TSX-MAW) - Exciting Rompas Gold and Uranium Discovery Emerges on the Market


Dear Friends:

Michael Hudson, President & CEO was recently interviewed by Resource Intelligence (  The following is a 1-page Summary of that Interview which will give you a quick update.

For those of you who will be in Toronto at the PDAC this weekend (Sunday-Wednesday March 6-9) - - - Visit Michael Hudson, Mawson President  & CEO at Booth# 3304

Therefore Stay Tuned - - we expect - - much, much more to come from Mawson!!!

Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Gold at Rompas Finland


Stay tuned for the most recent updates on Mawson Resources and other leading mining companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058

Morning Market Briefing

Morning Market Briefing
Tuesday, March 4, 2011


Earnings News
Specialty retailer Genesco Inc. (GCO) announced Friday an increase in fourth-quarter profit from the prior year primarily due to decrease in one-time expenses and also a lower effective tax rate. Net sales also went up 17% with a comparable sales growth of 9%. Both adjusted earnings and revenues beat estimates. The company also issued its earnings outlook for fiscal 2012. (Mar 4, 2011) Full Article
Semiconductor solutions company Marvell Technology Group Ltd. (MRVL) reported Thursday a higher fourth-quarter net income as a result of lower one-time charges and a 7% growth in revenues. Both adjusted earnings and revenues, however, fell short of estimates. (Mar 4, 2011) Full Article
Canadian miner Silver Wheaton Corp. (SLW, SLW.TO) said Thursday fourth-quarter profit more than doubled thanks to a 11% increase in equivalent sales volumes of silver and higher average realized prices. While earnings exceeded expectations, revenues disappointed. The company forecast a 15% production growth in 2011. (Mar 4, 2011) Full Article
French environmental management services provider Veolia Environnement SA (VE, VIE.PA) Friday reported a lower profit for fiscal 2010 as higher costs offset the 2.5% revenues rise. (Mar 4, 2011) Full Article
Todays WS Events
Aetna 2011 Investor Conference Call At 9:00 AM ET
Aetna Inc. (AET) will present at the Company’s institutional investor conference at Aetna’s Corporate Headquarters in Hartford. The event is scheduled to begin at 9:00 AM ET, March 4, 2011. The access the live webcast, log on to (Mar 4, 2011)
Stock futures are indicating little movement at the opening bell on Friday, even after this morning's February jobs report showed sizable job growth and a drop in the unemployment rate to just below 9 percent. Concerns about the ongoing unrest in the Arab world may be holding traders back from investing in higher risk investments such as stocks. (Mar 4, 2011) Full Article
Raising the possibility for a rate hike this month, Philippine annual inflation surged more than expected in February to a nine-month high on rising food and housing cost, official figures showed Friday. (Mar 4, 2011) Full Article
Indonesia's central bank retained its key interest rate on Friday after inflation showed signs of easing. (Mar 4, 2011) Full Article
UK house prices dropped for the fourth consecutive month in February, underlining the continuing sluggishness in the housing market. The house price index dropped 2.8% annually in February, faster than a 2.4% decline in the previous month, a report from Lloyds Banking Group Plc's Halifax division showed Friday. (Mar 4, 2011) Full Article
With job growth visible in a variety of sectors, the Labor Department released a report on Friday showing that U.S. employment saw a significant increase in the month of February. The report also showed an unexpected drop in the unemployment rate. (Mar 4, 2011) Full Article

Non- Farm Employment Increased 192,00 in February But Unemployment rate was little changed.

U.S. Bureau of Labor Statistics: Nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 percent. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing.

Payroll employment rises by 192,000 in February; unemployment rate changes little (8.9%)

Financial And Forex Info | Reuters - Before The Bell: Futures flat, traders see strong payrolls number


Futures flat, traders see strong payrolls number
NEW YORK (Reuters) - Stock index futures were mostly unchanged on Friday as upbeat labor market data earlier this week fed investor optimism about the upcoming February payrolls report. | Full Article

Jobs seen at 9-month high in February
March 04, 2011 07:29 AM ET
WASHINGTON (Reuters) - Employers probably hired more workers in February than in any month since May last year, recovering from extreme winter weather and raising hopes the economic recovery has gathered critical momentum. | Full Article
Courtroom showdown in Galleon trading probe
March 04, 2011 07:49 AM ET
NEW YORK (Reuters) - A sweeping insider trading case that shook the hedge fund world is finally set for trial, with onetime billionaire Raj Rajaratnam fighting to stay out of prison in a courtroom drama over corporate secrets, tapped telephones and friends-turned-government witnesses. | Full Article
Oil climbs higher on Libya conflict
March 04, 2011 06:44 AM ET
LONDON (Reuters) - Crude oil rose on Friday, with Brent above $115 a barrel, as Libyan rebels vowing "victory or death" advanced toward a major oil terminal, and on protests in Saudi Arabia's oil-producing Eastern Province. | Full Article
Banks receive proposals on troubled mortgages: report
March 04, 2011 12:29 AM ET
(Reuters) - U.S. banks received a proposal from state attorneys general and several federal agencies that could require them to reduce loan balances of troubled mortgage borrowers, the Wall Street Journal said, citing people familiar with the matter. | Full Article