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Aug 24, 2011

Japan OK's Peabody-ArcelorMittal bid for Macarthur: MarketWatch | Asia Stocks


By David Fickling

SYDNEY (MarketWatch) -- Japan's Fair Trade Commission has approved the joint Peabody Energy Corp. BTU -0.22% -ArcelorMittal MT +0.24% bid for Macarthur Coal Ltd. (MCC.AU), which values the Australian miner at A$4.73 billion, the bidders said Thursday.
The approval fulfils one of several conditions standing in the way of the bid, the companies said, although similar approval is still being sought from China's Ministry of Commerce.
Macarthur is the world's largest producer of pulverized coal injection coal, or PCI, a low-cost form of the coking coal used in steelmaking. Japan is one of the biggest consumers of the product, and any objection from the country's competition authorities would likely prevent the bid going ahead.

Ping Newsletter. Steve Jobs resigns as Apple CEO

Ping Newsletter
Steve Jobs resigns as Apple CEO
STEVE Jobs, who has been battling cancer, resigned today as the chief executive of Apple, the consumer technology giant.
NBN in reshuffle as CFO quits
THE firm rolling out Labor's $36bn National Broadband Network has started a global search for a new chief financial officer.
NBN Co's wireless admission
 The NBN Co admits that wireless internet services in some areas could rival to the speed of basic services on the fibre network
Cybercrime bill on fast-track
THE "seriously flawed" Cybercrime Bill has been rushed through the House of Representatives, much to the chagrin of the Greens.
NSW creates IT agency
THE NSW Government will establish a new agency, eHealth NSW, to plan and co-ordinate all health IT activities statewide.


 
Gold tumbles $US100 in sell-off
Gold Tatyana Shumsky GOLD plunged below $US1800 today, a dramatic reversal from a record-setting run that bred complacency about its risks.
 
Wall St rises for a third day
Wall St Steven Russolillo US stocks notched a third straight day of gains today as an upbeat durable goods report set a positive tone.
 
BHP profit surges but no buyback
bhp Matt Chambers BHP Billiton has delivered another record profit, boosting earnings by a whopping 86 per cent to $US23.6 billion.
 
Leighton terse on Mortimer exit
Aus Bus Pix David Mortimer Leighton chairman Tracy Lee LEIGHTON Holdings has undergone a massive shake-up with both chairman David Mortimer and chief executive David Stewart leaving.
 
European banks face new crisis
EU-BRITAIN-GREECE-EUROZONE-FINANCE-BANKING-TEST-EBA-FILES David Enrich EUROPEN banks are increasingly resorting to emergency funds as new signs of stress pile up in the ailing banking system.
 
Seven soothes investors' fears
Channel Seven chief David Leckie James Chessell SEVEN West Media's profit has gone some way towards extinguishing investor doubts about its strength.
 
Kloppers warns of rising cost pressure
BHP Billiton CEO Marius Kloppers Sarah-Jane Tasler THE world's largest miner, BHP Billiton, has flagged further cost pressures for the resources sector due to a price lag on inputs.
 
Qantas bullish after earning $552m
Qantas CEO Alan Joyce faces the media Steve Creedy QANTAS says demand is robust even as it heads into an operating environment that is "challenging and volatile".
 
Financial Markets
Wall St rises for a third day
Wall St Steven Russolillo US stocks notched a third straight day of gains today as an upbeat durable goods report set a positive tone.
 
Copper gains on US data
Oil price dips in abrupt slide
 
Financial Markets Coverage
 
Mining & Energy
Sting in BHP's $23bn record
Marius Kloppers Matt Chambers BHP Billiton's record-breaking $22.5bn profit has been delivered with a blunt warning that rising wages are fuelling inflation.
 
Copper gains on US data
Gold tumbles $US100 in sell-off
 
More Mining & Energy

The Australian Capital Circle:Thomson onslaught hobbles Labor

Capital Circle Newsletter

Thomson onslaught hobbles Labor
 
The scandal engulfing Labor continues, with more allegations about Craig Thomson's behaviour emerging.

Julia Gillard will attend a Medicare Local forum with Health Minister Nicola Roxon in the main committee room this morning. The pair will hold a press conference afterwards. It's Daffodil Day, the Cancer Council's annual fundraising event and the PM will meet the council's CEO Ian Olver at about 11am today. She'll attend question time this afternoon.
Tony Abbott spoke to Lyndal Curtis on ABC 24 this morning. He's participating in the Cycle 4 Life bike ride to raise money for Lifeline today.
The Craig Thomson scandal goes from bad to worse for Labor. The Health Services union have taken claims against him to the NSW police. The Australian reports: The head of a leading Melbourne escort agency has raised fresh allegations linking Labor MP Craig Thomson to the use of prostitutes in the city in 2005 and 2006. The Daily Telegraph reports: Mr Thomson obtained thousands of dollars in cash advances at overseas ATMs while on a three-week trip to New York, London and Paris, it can be revealed. And Labor MPs talking points on the affair have fallen into the wrong hands. (report) ( MPs' script)
Timing: Labor's Senator John Faulkner and Melissa Parke will join the Coalition's Senator Ma
Read more...
 
Mumble
Peter Brent
Peter Brent
 
Beware the wacky stories
Some odd stories are creeping into the coverage of Australian politics. Last week this one started doing the rounds: Andrew Wilkie’s poker machine…
 
More Peter Brent

CMI | NY Trading - Spot Prices at Close


CMI - Gold & Silver

Spot Prices as of the close of trading in New York
As of: Wednesday August 24, 2011

  Today Change Week Ago Month Ago Year Ago
Gold $1,758.00 -$102.85 $1,794.00 $1,601.85 $1,232.20
Silver $39.21 -$3.11 $40.43 $40.15 $18.43
Platinum $1,829.10 -$56.60 $1,844.00 $1,799.90 $1,517.70
Palladium $747.00 -$24.25 $775.00 $808.80 $484.25

Kitco New York Market Close Report



New York Market Close Aug 24/11 05:22 PM EDT
Metals
Bid
Ask
Change
Low
High
Gold
1751.30
1752.30
-77.90
-4.26%
1749.10
1855.00
Silver
39.69
39.79
-2.11
-5.05%
39.00
42.32
Platinum
1803.00
1812.00
-60.00
-3.22%
1795.00
1881.00
Palladium
745.00
752.00
-13.00
-1.72%
739.00
768.00



NYT: Afternoon Business News: Despite Gene Patent Victory, Myriad Genetics Faces Challenges



BUSINESS

Despite Gene Patent Victory, Myriad Genetics Faces Challenges

By ANDREW POLLACK
Myriad Genetics plans to rely less on patents and more on trade secrets - leveraging its huge database on gene mutations to defend its franchise in testing for breast cancer risk.

Stocks Regain Momentum as Investors Weigh Economic Data

By CHRISTINE HAUSER
Wall Street indexes turned sharply positive late in the day after a strong rally on Tuesday.

Chasing Rare Earths, Foreign Companies Expand in China

By KEITH BRADSHER
As China, which produces 90 percent of the world's rare earths, tightens supplies and raises taxes, some companies find it more cost-effective to move production there.
Bits Blog

Google Reaches $500 Million Settlement With Government

By CLAIRE CAIN MILLER
The agreement ends an inquiry into the search engine's practices on illegal ads for online pharmacies.
DealBook

Fugitive Moody's Analyst Ordered to Pay $35 Million to S.E.C.

By PETER LATTMAN
But it could be hard to track down Deep Shah, the only defendant criminally charged in the government's insider trading investigation centered on Raj Rajaratnam to have not pleaded guilty or been convicted. He is believed to be in Mumbai.

CBS NEWS | Political Hotsheet Top Stories: Rick Perry surges to front in latest GOP poll


The CBS News Political Hotsheet newsletter
CBS POLITICAL HOTSHEET TOP STORIES    



   
Texas governor leads Mitt Romney by 12 points in latest Gallup poll of Republican presidential field
Read full story
Rick Perry surges to front in latest GOP poll

Cantor pledges federal money for earthquake aid In trip to earthquake-stricken Mineral, Va., Rep. Eric Cantor says "we will find the monies" for aid - but that funds would be offset elsewhere

At rally in Israel, Glenn Beck calls for courage Conservative commentator holds controversial rally in Jerusalem, assails human rights organizations for not standing with Israel

Bush reflects on 9/11: A In raw, emotional interview, former president recounts experience and decision-making on September 11, 2001

Lawmaker seeks better nuclear safety post-quake Congressman Ed Markey calls for new safety standards after earthquake reveals glitch in nuclear plant's backup power system

U.S. stocks rally into close; up for third day: MarketWatch | U.S. Market at close - Market Pulse,



By Kate Gibson
NEW YORK (MarketWatch) -- U.S. stocks rallied on Wednesday for a third day of gains, as a rise in durable-goods orders helped to dispel some of the more dire thinking about where the economy is headed. The Dow Jones Industrial Average DJIA +1.29% rose 143.95 points, or 1.3%, to 11,320.71. The Standard & Poor's 500 Index SPX +1.31% gained 15.25 points, or 1.3%, to 1,177.60. The Nasdaq Composite Index COMP +0.88% advanced 21.63 points, or 0.9%, to 2,467.69.

Romney picks up endorsements from Pawlenty backers: The Washington Post | Politics Afternoon Edition

The Washington PostPolitics Afternoon Edition

HEADLINES

  1. Romney picks up endorsements from Pawlenty backers

    As Republican presidential candidate Mitt Romney began a campaign swing across New Hampshire on Wednesday, he picked up several key endorsements here and in the first-caucus state of Iowa.
    » Read full article
  2. THE FIX: Tea party serves up weak Senate challengers

    In a few 2012 Senate races, tea- party challenges seemed almost inevitable. Maine Sen. Olympia Snowe (R), Virginia Senate candidate George Allen(R), Indiana Sen. Dick Lugar (R), and Utah Sen. Orrin Hatch (R) were all expected to face tough competition on the right. But so far, serious challenges in all three races have failed to materialize.
    » Read full article
  3. 2CHAMBERS: Quake forces Senate off-site for session

    The rare earthquake that rattled Washington wasn’t the only bit of history that was made Tuesday.
    » Read full article
  4. FACT CHECKER: Huntsman's puzzling China proposal

    Doesn't the United States already have a 'strategic dialogue' with China?
    » Read full article
  5. Fired aide returns to Issa's office

    Kurt Bardella, the onetime deputy communications director to House Oversight Committee Chairman Darrell Issa (R-Calif.) who was fired in March after sharing journalists’ e-mails with a New York Times reporter, is returning to the oversight panel.
    » Read full article

Reuters Deals Today




NewsBrazil's Vale said on Wednesday it has created a new logistics company for cargo transport, but it denied media reports it is planning to sell stock in the unit in a spin-off. Logistics services generated $1.5 billion in revenue in 2010, an increase of 33 percent from the year before.

Cerberus Capital Management LP's deal to buy 64 hotels from bankrupt Innkeepers USA Trust could still go forward, but at a lower price, two sources familiar with the situation told Reuters.

NYT's DealBook contributor Steven M. Davidoff writes that Capital One's proposed $9.2 billion acquisition of ING Direct requires clearance from the Federal Reserve, as it poses a potential systemic risk. "Whether or not the Fed approves the Capital One/ING Direct transaction, it is time for the Fed to run public hearings on what exactly Dodd-Frank means for our banks and what we as a country want from them," writes Davidoff.

Why IPO when the markets stink? Venture capitalist Jeff Richards's answer: "You go public in a choppy market because your business has strong fundamentals that investors will buy into regardless, you raise important growth capital, and begin establishing a track record as a public company."

If private equity firms drafted their NFL dream team, who would make the roster? Fortune.com's Dan Primack goes deep.

Investopedia: Top Retirement Investments For 2011

Go To Investopedia.com! 

"Master Investment Dictionary,  Leader Educator  &  Guide"


Articles
Top Retirement Investments For 2011
Winning Celebrities And The Companies They Endorse
7 Popular Marketing Techniques For Small Businesses
Can Investors Trust Official Statistics?
Commodity Prices And Currency Movements
The Pros And Cons Of Automated Trading Systems
Poll Question Poll Question
With the unrest in the Middle East and the financial uncertainty looming over markets, which commodity do you think is poised for a bigger run-up before the end of the year?
Term of the Week Term of the Week
Debt Ceiling
Recently Asked Questions Recently Asked Questions
What is the gold standard?

MarketWatch | Personal Finance Daily: Get Ready For a Double-diip Recesion


MarketWatch

Personal Finance Daily
AUGUST 24, 2011

Get ready for a double-dip recession

By MarketWatch



Don't miss these top stories:

Robert Powell writes in his Your Portfolio column that Sam Stovall of Standard & Poor's Equity Research is among those who are preparing for disaster: "If the market action in 2008 taught us anything, it was be proactive and expect the worst."

So it's not enough that you need to be prepared for earthquakes and hurricanes right now; you also need to think about positioning your portfolio to withstand a possible double-dip recession. Read Powell's column to see what strategists think about investing in Europe, China and in emerging markets.

Speaking of storms, meteorologist Eric Holthaus offers some likely economic outcomes based on current computer forecast models. But first, if you and yours are potentially in the path of Hurricane Irene, check out the emergency-preparedness page at the National Hurricane Center's website . Then if you like, read Holthaus's analysis of the possible economic impact and effects on sectors like energy and insurance.

Anne Stanley , managing editor, Personal Finance

How to get ready for a double-dip recession

Economists and strategists are increasingly predicting another recession. But they're also getting prepared, with strategies that include a balanced approach and European and Asian ETF plays.
Read more: How to get ready for a double-dip recession.


Hurricane scenarios run from bad to worse

With market volatility abounding, an East Coast earthquake and Hurricane Irene on the way, investors may be wondering what Steven Spielberg movie they're in. Could asteroids be next?
Read more: Hurricane scenarios run from bad to worse.


Are ‘floating-rate' funds safe?

The hottest-selling funds on the market have drawn plenty of praise and billions of dollars in the past year. Now they've also inspired a warning from regulators, who say the investments may be riskier than buyers realize.
Read more: Are "floating-rate" funds safe?


INVESTING

Barron's Take: Impressed by CVS Caremark

The drugstore operator and pharmacy benefits manager's new $4 billion stock-buyback program should help lift the stock (CVS).
Read more: Barron's Take: Impressed by CVS.


Tech companies aren't banks

Tech Investor columnist John Shinal asks: Why do firms like Apple Inc. (AAPL) and Google Inc. (GOOG) have all the cash?
Read more: Tech companies aren't banks.


ECONOMY & POLITICS

U.S. slowdown shadows Bernanke at Jackson Hole

Behind the scenes at Jackson Hole, Wyo., Fed officials, foreign bankers and others will try to answer the puzzle of why the economy has stalled.
Read more: U.S. slowdown shadows Bernanke at Jackson Hole.


CBO trims U.S. budget deficit forecast

The United States will record a budget deficit of $1.28 trillion this year, the Congressional Budget Office says, a small improvement from last year's number but still the third biggest in 65 years.
Read more: CBO trims U.S. budget deficit forecast.


Durable-goods orders climb 4% in July

Orders for U.S. durable goods jumped 4% in July, mainly because of higher demand for autos and commercial aircraft, the government reports. Orders for most other durable goods fell, reflecting continued weakness in broad swaths of the economy.
Read more: Durable-goods orders climb 4% in July.


‘Crazy' Huntsman tweets his way into race

Former Utah Gov. Jon Huntsman is making a move in the back stretch that could position him well for a run in the home stretch if Republican voters get serious about nominating someone who has the potential to beat President Barack Obama.
Read more: ‘Crazy' Huntsman tweets his way into race