|Tents for asylum-seekers as vote looms|
|PARLIAMENT is expected to pass a bill today that will allow the resumption of offshore processing on Nauru and Manus Island, where asylum-seekers will initially sleep in tents.|
Julia Gillard confirmed yesterday that asylum-seekers will at first be housed in tents on Nauru and Papua New Guinea's Manus Island before more permanent facilities are built (Oz), (SMH), (Fin Review), (Daily Tele), ( Herald Sun), (West Australian). Tented accommodation on Christmas Island lead to mass protests and the burning of tents in early 2011 (Oz). Tony Abbott said this morning he was comfortable with asylum-seekers sleeping in tents on the two islands. "If people are initially going to live in tents so be it," Mr Abbott told the Nine Network. "People who arrive by boat have to be treated humanely but they can't expect five-star treatment, they can't even expect three-star treatment."
Debate will continue in the lower house on Labor’s bill to reinstate offshore processing this morning, with a vote expected this afternoon.
A refugee in Indonesia has said sleeping in a tent and being processed on Nauru won't stop him from making the boat journey to Australia (SMH). Families of those who were on a boat that hasn't been heard of since June are worried about their relatives ( Read more...
Aug 14, 2012
News Financial and Forex Info | The Australian Capital Circle: Tents for asylum-seekers as vote looms
Toronto, Canada.Seabridge Gold reported today that it has filed Financial Statements and its Management's Discussion and Analysis for the three and six months ended June 30, 2012 on SEDAR (www.sedar.com). During the three month period ended June 30, 2012 Seabridge posted a net loss of $2.3 million ($0.05 per share) compared to a loss of $7.3 million ($0.18 per share) for the same period last year. During the 2nd quarter, Seabridge invested $12.2 million in mineral interests, primarily at KSM and Courageous Lake, compared to $9.7 million during the same period last year. At June 30, 2012, net working capital was $39.3 million compared to $57 million at December 31, 2011.
To view these second quarter 2012 president's report, financial statements and management's discussion and analysis for the six months ended June 30, 2012 on the Company's website, please see: www.seabridgegold.net/sharefinrep.php.
Complete news release - http://seabridgegold.net/news.php
Stock Quote - http://www.seabridgegold.net/quotes.php
August 14, 2012
Compiled 20:45 GMT
Compiled 20:45 GMT
By DAMIEN CAVE and DALAL MAWAD
Syria's former prime minister, Riyad Farid Hijab, who defected to Jordan last week, said on Tuesday that the government of President Bashar al-Assad was collapsing.
By JESSICA SILVER-GREENBERG
New York's top banking regulator had accused Standard Chartered of laundering $250 billion for Iranian clients and lying about it to authorities.
By NATHANIEL POPPER
The advantages of the nation's increasingly high-speed stock market are under the microscope after a number of recent trading malfunctions underscored the risks that have come with rapid changes.
By DENIS CORBOY, WILLIAM COURTNEY and KENNETH YALOWITZ
Russia's heavy-handed approach to the world is undermining the country's status as a great power.
By an EMPLOYEE of THE NEW YORK TIMES in SYRIA and DAMIEN CAVE
Along with the many funerals of the war in Syria, there are guilt-ridden weddings, and births, with new arrivals sometimes taking on the names of the departed.
By STEVEN ERLANGER
Clashes in the northern French city of Amiens could represent a challenge to President François Hollande in a time of joblessness and flat economic growth.
By KAREEM FAHIM and MAYY EL SHEIKH
In his purge of Egypt's top generals, President Mohamed Morsi leaned on the support of a junior officer corps that blamed the old guard for a litany of problems within the military.
Stocks and Markets in the News | Wall Street at Close August 14, 2012: U.S. stocks lose buoyancy on Greece report
SAN FRANCISCO (MarketWatch) — U.S. stocks lost hold of their meager gains Tuesday as markets headed to a close following a report that Greece was looking for an extension to implement austerity programs.
The Dow Jones Industrial Average DJIA +0.02% closed up 2.71 points, or less than 0.1%, to 13,172.14, after trading as much as 53 points higher earlier in the session. In the final half-hour of trading, the Dow was down as much as 27 points.
The Financial Times reported toward the end of the session Tuesday that Greece is going to seek a two-year extension of its austerity program that would spread cuts out until 2016 and result in a 1.5 percentage-point annual budget deficit reduction rather than 2.5 points. Read more on Greece austerity extension.
Leading the Dow at the close were Home Depot Inc. HD +3.58% shares, which closed up 3.6% after the company reported higher fiscal second-quarter results. Read more on Home Depot.
On the other hand, the S&P 500 SPX -0.01% fell 0.18 points to close at 1,403.93, as consumer staples and discretionary stocks sought to keep the index afloat. It was down as many as 3.5 points in the final half-hour of trading.
The Nasdaq Composite Index COMP -0.18% declined 5.54 points, or 0.2%, to finish the day at 3,016.98.
U.S. equity markets had been buoyed for most of Tuesday as a rebound in July retail-sales data lifted consumer stocks and economic data out of Europe showed fractional improvement.
Ahead of the bell, the Commerce Department said sales at U.S. retailers increased 0.8% in July, breaking a string of three straight monthly declines, topping expectations for 0.2% growth. Sales excluding autos and gasoline rose 0.9%. Read more on retail sales.
With markets in a classic mid-August low-volume mode, however, investors find themselves at a crossroads.
“If you broaden it out, the market’s doing well, but we’re reaching the upper edge of a trading range, so people are leery of chasing it here,” said Robert Pavlik, chief market strategist at Banyan Partners.
Still, concerns about Europe debt struggles and slowing growth in China are keeping a cautious tone over the market, as investors worry about U.S. corporate earnings dragged by cooler global growth, said Myles Zyblock, chief institutional strategist at RBC Capital Markets.
“We still have a tenuous situation in Europe and the data out of Asia is still pretty soft,” he said.
In Europe, data showed that the German economy grew 0.3% on a seasonally-adjusted basis in the second quarter, beating forecasts of a 0.2% rise. French gross domestic product was unchanged in the second quarter, which was better than economists’ expectations of a 0.1% decline. Read more on Europe Markets.
Stocks had been buoyed by many factors: Europe’s momentum toward some sort of fiscal resolution; economic indicators, even if they are beating lowered expectations; and some anticipation the Federal Reserve could announce QE3, or a third round of quantitative easing, leading up to the Fed’s annual retreat in Jackson Hole, Wyo., said John Canally, chief market strategist at LPL Financial.
“We’re beating lowered expectations. While not great on an absolute basis, we’re getting the best of both worlds: strong enough to not be in a recession but weak enough to get help,” Canally said.
Investors may also be waking up to the fact that even in a weak economic recovery, equities markets are still up nearly 20% from a year ago.
Shares of Nasdaq-listed Groupon Inc. GRPN -27.02% fell 27% to close at $5.51, triggering a short-sale limit, after the daily-deals site issued a disappointing third-quarter forecast, in part due to concerns over the economic situation in Europe. Read: Groupon hit by outlook despite growth
Declining stocks slightly outnumbered advancers on the NYSE, and by about three to two on the Nasdaq. Trading volume of NYSE-listed stocks topped 2.8 billion shares, while Nasdaq-listed stocks were just over 1.5 billion shares. Average August daily trading volume is 3.42 billion shares for NYSE-listed stocks, and 1.7 billion for Nasdaq-listed stocks, according to Barclays.
U.S. stocks had faltered on Monday, hampered by an empty U.S. economic calendar and a lackluster reading on Japan’s growth, resulting in the S&P 500 snapping its longest daily winning streak since December 2010. Read more on Monday’s stock action.
Wallace Witkowski is a MarketWatch news editor in San Francisco. Laura Mandaro is a MarketWatch editor, based in San Francisco.
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