tag:blogger.com,1999:blog-7006127450682737922024-02-20T18:06:49.989-08:00duit onlineMENJANA DUIT SAMBILAN DI RUMAHEnterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.comBlogger94125tag:blogger.com,1999:blog-700612745068273792.post-76186455809733450012014-08-21T06:38:00.000-07:002014-08-21T06:38:10.530-07:00Pelaburan Takaful yang menguntungkanPelaburan Takaful (tertipu dengan janji manis)<br />
<br />
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px;">
again and again....</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
baru2 ini ada tnya pasal saving dengan insurance under company A....ada seorg agen datang ke sekolah menawarkan dengan simpanan bulanan RM150 selama 10 tahun.....pada hujung premium sijil akan dpt simpanan wang sebanyak RM28,000....tetapi sekiranya meninggal dalam temph tersebut akan dapat duit pampasan sebanyak RM28,000 plus simpanan yang ada......selain itu ada percuma badal haji dan khairat kematian...</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
malangnya agen tersebut just ckp on verbal only...berbekalkan template yang dilaminate......semua peserta x kira umur byr jumlahnya sama.....dan pulangannya sama....</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
drpd di atas.....simpanan RM150 selama 10 thun dia punya return adalah sebanyak 8%....drpd pengalaman aku.....pulangan ini adalah munasabah sekiranya kesemua jumlah adalah dalam bentuk simpanan.....</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
tetapi apabila produk takaful yang mempunyai perlindungan....some portion drpd bulanan itu akan dimasukkan ke dalam tabaruq iaitu dana untuk perlindungan di mana portion tersebut adalah disedekahkan dalam satu tabung yang dikongsi bersama dengan peserta2 takaful yang lain....</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
Selain itu juga, ada caj wakalah yang dikenakan pada setiap bulan dan umumnya sehingga 6 tahun di mana caj tersebut digunakan untuk membiayai dan membayar kepada syarikat takaful bagi menguruskan dana tersebut.....</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
oleh itu, aku boleh katakan agak mustahil apabila anda menyimpan dengan dengan adanya perlindungan.....duit pulangan adalah sebyk itu......dan ramai yang terkena....apabila sampai sijil matang...pulangan adalah tidak seperti dijanjikan.....oleh itu....mulalah org berkata....menipu......</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
ramai yang terkena.......sebagai contoh....bapa sendiri....membeli life insurans...dikatakan sekali byr sepanjang hayat....dan apabila tamat boleh dpt balik duit itu....tetapi akhirnya bila menghubungi balik agen tersebut....sijil sudah tamat tempoh....malahan duit tidak dipulangkan</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
ada banyak lagi kes seperti ini.....malas nk cerita......</div>
<div style="background-color: white; color: #141823; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-bottom: 6px; margin-top: 6px;">
bila anda bersedia membeli insurance ataupun takaful.....takaful bukanlah tempat untuk mencari keuntungan mutlak....ia adalah pelaburan jangka panjang....dan amat berbaloi untuk jangka panjang....sekiranya pulangan yang dijanjikan tinggi......berhati2......jangan tertipu......</div>
<div style="background-color: white; color: #141823; display: inline; font-family: Helvetica, Arial, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 14px; line-height: 19.31999969482422px; margin-top: 6px;">
takaful tidak menjanjikan bulan dan bintang......tetapi ianya byk membantu pada waktu yg diperlukan......</div>
Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-74028435640519651382009-12-22T06:04:00.000-08:002009-12-22T06:05:19.065-08:00Stock futures point toward higher opening<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- Stock futures retreated from their highs Tuesday after a report showed economic growth in the third quarter was not as strong as previously forecast.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">However, investors appear to be shaking off the worse-than-expected data as the economy is still showing signs of growth. Stocks are set to open higher.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Overseas markets strengthened. A report that the British economy did not contract as much as previously thought in the third quarter sparked a rally in Europe.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The U.S. government said the nation's economy grew at an annual rate of 2.2 percent in the third quarter, smaller than the previous estimate of 2.8 percent. The Commerce Department cut the reading because consumers didn't spend as much, commercial construction weakened and companies reduced inventories.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">But the economy returned to growth during the quarter after a record four straight quarters of decline, and many analysts believe the economy is on track for a better finish in the current quarter.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Traders are awaiting a report that is expected to show sales of existing homes rose to their highest level in nearly three years. Economists predict home sales rose 2.5 percent to a seasonally adjusted annual rate of 6.25 million in November, from 6.1 million in October.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A sharp decline in sales and home prices coupled with rising defaults helped push the nation into recession. Any signs of improvement in the market would further boost confidence in the speed of the recovery.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The National Association of Realtors' report is scheduled to be released at 10 a.m. EST.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Ahead of the opening bell, Dow Jones industrial average futures rose 29, or 0.3 percent, to 10,371. Standard & Poor's 500 index futures rose 3.50, or 0.3 percent, to 1,111.70, while Nasdaq 100 index futures rose 8.00, or 0.4 percent, to 1,833.50.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Trading is expected to be light throughout the holiday-shortened week, which can exaggerate price swings. The market is closed Friday for Christmas.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stocks are set to extend gains into Tuesday after moving sharply higher a day earlier. Corporate dealmaking and a push toward healthcare overhaul on Capitol Hill fueled big gains. Major indexes rose about 1 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Among the deals, French drug maker Sanofi-Aventis SA said Monday it plans to buy U.S. health care products company Chattem Inc. for $1.9 billion, and mining equipment maker Bucyrus International Inc. said it will acquire Terex Corp.'s mining equipment division for $1.3 billion.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Corporate acquisitions are often seen as a sign of an improving economy as companies that had held onto cash during a downturn look for new places to invest their money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">International deals continued Tuesday, as Boston-based State Street Corp. agreed to buy the securities services business of Italian banking group Intesa Sanpaolo for $1.87 billion.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, bond prices continued to fall as optimism for recovery grows. Investors typically sell long-term bonds during a rebound because of fears inflation will increase during that time. Inflation is bad for bonds because it eats into their fixed returns.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.71 percent from 3.68 percent late Monday. The yield on the 10-year note reached its highest level since August earlier in the day.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The yield on the three-month T-bill, considered one of the safest investments, rose to 0.08 percent from 0.05 percent. Short-term rates remain low because they are closely tied to interest rates set by the Federal Reserve. The Fed has said it has no plans to alter rates in the coming months. The growing gap between short- and long-term bonds provides further evidence investors are becoming more confident.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The dollar was mixed against other major currencies, while gold prices declined to their lowest level since early November.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Overseas, Japan's Nikkei stock average rose 1.9 percent. In afternoon trading, Britain's FTSE 100 rose 0.9 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.6 percent.</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-14610049066506387792009-12-22T06:00:00.000-08:002009-12-22T06:03:48.974-08:00Recovery not as strong as previously thought<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="byline" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Jeannine Aversa, AP Economics Writer </span></span><span class="Apple-style-span" style="font-size: medium;">, </span><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Tuesday December 22, 2009, 8:47 am</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">WASHINGTON (AP) -- The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. However, all signs suggest the economy will end the year on stronger footing.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Commerce Department's new reading on gross domestic product for the July-to-September quarter was slower than the 2.8 percent growth rate estimated just a month ago. Economists were predicting that figure wouldn't be revised in the government's final estimate on third-quarter GDP.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was a bit softer and companies cut back more on inventories, according to Tuesday's report.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Despite the lower reading, the economy managed to finally return to growth during the quarter, after a record four straight quarters of decline. That signaled the deepest and longest recession since the 1930s had ended, and the economy had entered into a new fragile phase of recovery.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Many analysts believe the economy is on track for a better finish in the current quarter.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The economy is probably growing at nearly 4 percent in the October-to-December quarter, analysts say. If they're right, that would mark the strongest showing since 5.4 percent growth in the first quarter of 2006 -- well before the recession began. The government will release its first estimate of fourth-quarter economic activity on Jan. 29.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Yet even such growth wouldn't be enough to quickly drive down the unemployment rate, now at 10 percent. High unemployment and tight credit for both consumers and businesses are expected to continue to weigh on the economic recovery. Many economists predict the economy's growth will slow to a pace of around 2 or 3 percent in the first three months of 2010.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Growth in the final quarter is expected to be driven by companies restocking depleted inventories. Stocks of goods were slashed at a record pace during the recession. So even the smallest pickup in customer demand will force factories to step up production and boost overall economic activity in the final quarter.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stronger sales of exports to foreign customers, as well as spending by U.S. consumers and businesses, also will help underpin fourth-quarter growth.</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-8476932080271134962009-12-21T08:23:00.000-08:002009-12-21T08:24:05.409-08:00'Gold at $ 2,000 becoming acceptable to investors'<span class="Apple-style-span" style="font-family: Arial, sans-serif; font-size: 21px; color: rgb(255, 255, 255); font-weight: bold; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; "><span class="Apple-style-span" style="color:#000099;">'</span><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif; font-size: 15px; font-weight: normal; line-height: 18px; "><span class="Apple-style-span" style="font-family: Arial, sans-serif; line-height: normal; "><span class="Apple-style-span" style="color:#000099;">December 18, 2009 05:50:00 IST</span></span><p style="margin-top: 0.5em; margin-right: 0px; margin-bottom: 0pt; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 15px; line-height: normal; "><span class="Apple-style-span" style="color:#000099;"><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Arial, sans-serif; "></span></span></p><p style="margin-top: 0.5em; margin-right: 0px; margin-bottom: 0.5em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 15px; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Arial, sans-serif; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><span class="Apple-style-span" style="color:#000099;">In 1705, John Law submitted a proposal to the Scottish Parliament that a new bank be set up that issued interest bearing notes to replace gold and silver coins as currency. He believed that public confidence alone was the basis of public credit and would allow bank notes to replace gold. <br /><br />As he told a friend "I have discovered the secret of the philosopher' stone; it is to make gold out of paper." <br /><br />The Scots rejected the proposal as did the Duke of Savoy, who said about Law's scheme "I am not rich enough to ruin myself." <br /><br />Unfortunately France adopted Law's scheme. In 1718 his Banque Royal effectively became the French Central bank and he became Controller General of Finances. Paper replaced gold by decree and the massive growth in money supply that followed led to the doubling of consumer prices by 1720. There was a massive bubble in the stock of his Mississippi Company and by June 1720 the grand experiment was over with paper money supply now four times larger than the gold and silver coins previously used. <br /><br />Paper money works as long as there is faith in the creditworthiness of the country issuing the currency and debt. The massive growth of money supply and debt in many countries prior to and following the financial crisis led to Dubai's default and the recent downgrades of Greek and Spanish sovereign debt. <br /><br />Morgan Stanley has just issued a report which highlights the danger of a sovereign debt crisis in the UK. <br /><br />Many countries in the developed world are running massive deficits to try to sustain economy recovery, but run the risk of sovereign default, currency devaluation, and serious inflation. These risks have spurred investor demand for gold as a hedge. <br /><br />There is even talk of the potential for hyperinflation (one definition of which is consumer prices increases of more than 50% per annum). Peter Bernholz (Professor of Economics at the University of Basel) studied the world's 12 most important periods of hyperinflation and discovered that the tipping point occurs when deficits amounted to 40% of the expenditures. <br /><br />For the United States last year's deficit of $1.4 trillion amounted to 40% of the $3.6 trillion in expenses. And deficit for first two months of the current fiscal year (Oct/Nov) is running higher than the same period last year... <br /><br />New players of the Park Avenue ilk have entered the market, who would never have looked twice at gold if not for US dollar weakness and the potential for serious inflation ahead. <br /><br />Hedge fund manager John Paulson made $ 20 billion betting against the housing market. He has now invested over $ 4.3 billion in gold mining companies and is raising a new gold fund in January. Other high profile investors in gold now include David Einhorn of Greenlight Capital, Paul Tudor of hedge fund giant Tudor Investment Corp. and Kyle Bass's Hyman Capital. <br /><br />Some of these investors have actually overcome an aversion to gold. As Paul Tudor put it: "I have never been a gold bug. It is just an asset that, like everything else in life, has its time and place. And now is that time." <br /><br />Paulson recently told investors that the rally in gold is just beginning. He will invest $ 250 million of his own capital in his new gold fund, which will mostly buy shares of mining companies. <br /><br />"I can't remember in 20 years so many respected investors focused on a single strategy," said Bradley Alford of Alpha Capital Management, which invests in hedge funds. "Some of these people are icons of the industry with at least 15-year track records." <br /><br />In fact, HSBC in New York has told its retail customers to remove all their gold from its vaults as it is now catering to institutional investors (who are buying gold in size) because it can charge institutions higher rates. <br /><br />And the Central Banks are now net buyers of gold. After China and Russia disclosed that they have been steadily buying gold, India bought 200 tonnes from the IMF and Sri Lanka and Mauritius also bought gold. For good measure, Russia also says it is buying Canadian dollars to diversify away from the US dollar. <br /><br />In fact, China, Russia, the Middle East and the Asia countries hold just 2.2% of their foreign exchange reserves in gold, compared to 38% for the Western countries, according to Stephen Jen of Blue Gold Capital (he was an expert on sovereign wealth funds at Morgan Stanley). To get to even half of Western levels, they would have to buy $ 700 billion worth of gold. <br /><br />And yet more evidence of exploding investment demand for gold comes from the US Mint: it has periodically suspended the sale of 1 ounce Gold Eagles and the 1 ounce Silver Eagle as production cannot keep up with demand. <br /><br />The impact of mainstream money on gold will be profound, because the size of the gold and silver industry is so small. The total value of all the gold ever mined is estimated at just $ 5 trillion. Total 2008 gold production was valued at $ 73 billion. The market capitalisation of all the world's gold producers is just equal to Wal-Mart and is less than Microsoft. The oil and gas industry is 12 times larger. <br /><br />The silver industry is much smaller, with total 2008 production currently valued at about $ 10 billion. <br /><br />Or as Doug Casey put it in September: "There's no doubt in my mind that we'll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions will go absolutely ballistic." <br /><br />And just a demand is ratcheting up, global gold supply has been falling, despite a four-fold increase in gold prices since 2001: <br /><br />As is happening currently, the US was running large trade deficits in the late 1960s, which meant its trading partners were being given significant amounts of US dollars. <br /><br />When they tried to get the US to convert the dollars to gold (under Bretton Woods, currencies were convertible into gold upon demand), the US de-linked the US dollar from gold in 1971. <br /><br />Between 1971 and 1980, gold increased over 24 times in price (from $35 to $ 850). <br /><br />So, the potential for a significant increase in the price of gold does have historical precedent. <br /><br />With gold having hit $ 1,200, the calls for gold to rise to $ 2,000 are becoming more acceptable to investors. Whether it goes higher than that will depend on how things are when (not if) it reaches that milestone. <br /><br /></span><em style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Arial, sans-serif; "><span class="Apple-style-span" style="color:#000099;">Courtesy: </span></span></b></em></span><a target="_blank" href="http://www.acamaronline.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; cursor: pointer; text-decoration: none; "><em style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Arial, sans-serif; "><span class="Apple-style-span" style="color:#000099;">www.acamaronline.com</span></span></b></em></a></span></p><p style="margin-top: 0.5em; margin-right: 0px; margin-bottom: 0.5em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 15px; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: Arial, sans-serif; "><span class="Apple-style-span" style="color:#000099;">Source: http://www.commodityonline.com/news/Gold-at-$-2000-becoming-acceptable-to-investors-23987-3-1.html</span></span></p></span></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-21795842700599561842009-12-21T08:20:00.001-08:002009-12-21T08:20:36.036-08:00Oil hovers above $73 ahead of OPEC meeting<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); font-size: 11px; "><span class="byline" style="line-height: 1.22em; ">By Pablo Gorondi, Associated Press Writer </span>, <span class="datetime" style="line-height: 1.22em; ">On Monday December 21, 2009, 9:06 am EST</span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Oil prices hovered above $73 a barrel Monday ahead of an OPEC meeting where investors expect the cartel to keep production levels unchanged.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">By mid-afternoon in Europe, benchmark crude for January delivery was up 14 cents to $73.50 in electronic trading on the New York Mercantile Exchange. The January contract, which expires later on Monday, rose 71 cents to settle at $73.36 on Friday.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Traders also have begun to watch the February contract, which was up 43 cents to $74.85 on Monday.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Leaders of the Organization of Petroleum Exporting Countries reiterated Monday that the group doesn't plan to change output levels at its meeting Tuesday in Luanda, Angola,</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">OPEC Secretary General Abdalla Salem El-Badri of Libya said there is consensus within the oil-producing bloc to maintain its production targets into 2010, indicating the group plans to hold output steady.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">"There is a consensus that there is no change," el-Badri told reporters when asked about OPEC's output plans at the upcoming meeting in Luanda. Even for next year, he said, changes to output are "not on our radar at this time."</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">El-Badri said prices are "very comfortable" for now, reflecting a sentiment sounded by several of the group's oil ministers in recent weeks.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Crude prices have staged an incredible turnaround in the past year, more than doubling from a low near $35 a barrel to trade to a zone many producing countries say they're happy with.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">"The market would be surprised if there was any change to output," said Clarence Chu, a trader with Hudson Capital Energy in Singapore. "At near $75, the price is high enough to fund governments and investment, but not so high it damages the global economic recovery."</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Iraq took back a remote oil well from Iranian forces over the weekend, a confrontation that briefly sent oil prices higher Friday on investor concerns about a wider conflict, although analysts quickly excluded a lasting impact on the market.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">"There are continued issues on the exact positioning of the Iranian-Iraqi border but there will not be a new Iraq-Iran war," said Olivier Jakob of Petromatrix in Switzerland. "While it does create some nice headlines in a holiday market, the market reaction on Friday shows the risk of buying oil on such hyped headlines."</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">A slight recovery of the euro against the dollar also helped oil prices, as crude valued in dollars becomes cheaper for investors holding other currencies when the greenback weakens.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">On Monday, the euro was up to $1.4345 from $1.4329 in New York on Friday.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">"In a holiday environment of low liquidity for commodity markets, we will this week mainly focus on the dollar," Jakob said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">In other Nymex trading in January contracts, heating oil advanced 2.23 cents to $1.9790 while gasoline rose 0.84 cent to $1.9032. Natural gas gained 2.4 cents to $5.806 per 1,000 cubic feet.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">"The weather has been cold and the U.S. East Coast has seen some of the highest snowfalls since 2003, but ... there are enough stocks of distillates and refining spare capacity to answer any surge of demand without necessarily creating any imbalances," Jakob said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">In London, Brent crude for February delivery rose 58 cents to $74.33 on the ICE Futures exchange.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: rgb(24, 24, 24); ">Associated Press writers Alex Kennedy in Singapore and Adam Schreck in Luanda, Angola, contributed to this report.</p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-6640783032704896072009-12-21T08:19:00.001-08:002009-12-21T08:19:35.127-08:00Good News! America Isn't Following the Same Path as Japan, Asia Expert Says<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div class="hd" style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><cite style="text-overflow: ellipsis; font-style: normal; font-weight: normal; line-height: 1.22em; color: rgb(102, 102, 102); "><span class="Apple-style-span" style="font-size: small;">Posted Dec 21, 2009 09:00am EST by Heesun Wee in </span><a href="http://finance.yahoo.com/tech-ticker/Investing;_ylt=Ak8iQec7iW9_yGcnnK3ayrtl7ot4;_ylu=X3oDMTB2NTR2M2J1BHBvcwMxBHNlYwNhcnRpY2xlBHNsawNpbnZlc3Rpbmc-" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: small;">Investing</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/tech-ticker/Recession;_ylt=Ajx9QeMFFiKhuhap41JvuxFl7ot4;_ylu=X3oDMTB2bWduMjcxBHBvcwMyBHNlYwNhcnRpY2xlBHNsawNyZWNlc3Npb24-" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: small;">Recession</span></a><span class="Apple-style-span" style="font-size: small;">,</span><a href="http://finance.yahoo.com/tech-ticker/Banking;_ylt=AmhFimLHIw4WEq5TGYFVOrJl7ot4;_ylu=X3oDMTB0amloMmtlBHBvcwMzBHNlYwNhcnRpY2xlBHNsawNiYW5raW5n" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: small;">Banking</span></a></cite><div class="related" style="text-overflow: ellipsis; margin-top: 0.62em; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(102, 102, 102); "><span class="Apple-style-span" style="font-size: small;">Related: </span><a href="http://finance.yahoo.com/q;_ylt=ApkLbos6u4K52Q99fSO2azBl7ot4;_ylu=X3oDMTBwaDZoZ3ViBHBvcwM0BHNlYwNhcnRpY2xlBHNsawNld2o-?s=EWJ" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">EWJ</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=AibzUZh2Sz8x.5N_KrT2JJpl7ot4;_ylu=X3oDMTBwY3JydGJmBHBvcwM1BHNlYwNhcnRpY2xlBHNsawNqZXE-?s=JEQ" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">JEQ</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=AnqCHBtKyeaUKjuE.PyPIFBl7ot4;_ylu=X3oDMTBwajBwN2J1BHBvcwM2BHNlYwNhcnRpY2xlBHNsawNkamk-?s=%5Edji" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">^DJI</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=Ap3tA2Ghk5ucv4RmB1yMsEpl7ot4;_ylu=X3oDMTBxdWNsaWs4BHBvcwM3BHNlYwNhcnRpY2xlBHNsawNnc3Bj?s=%5Egspc" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">^GSPC</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=Al7gg9IG2Kvr2L1DQSa5SA5l7ot4;_ylu=X3oDMTBvbWh0Mm1lBHBvcwM4BHNlYwNhcnRpY2xlBHNsawN0bQ--?s=TM" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">TM</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=Ajfs7PxMX1mUvW636Af6_W9l7ot4;_ylu=X3oDMTBwcWJqNjRoBHBvcwM5BHNlYwNhcnRpY2xlBHNsawNzbmU-?s=SNE" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">SNE</span></a><span class="Apple-style-span" style="font-size: small;">, </span><a href="http://finance.yahoo.com/q;_ylt=AiS.FsNOXZR_sJEfPNpToKRl7ot4;_ylu=X3oDMTBxZHNpcXE1BHBvcwMxMARzZWMDYXJ0aWNsZQRzbGsDY2Fq?s=CAJ" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; text-transform: uppercase; "><span class="Apple-style-span" style="font-size: small;">CAJ</span></a></div></div><div class="bd clearfix" style="text-overflow: ellipsis; margin-top: 1.23em; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; zoom: 1; "><div style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">As the U.S. economy has retreated from the edge of a financial cliff, America's recovery repeatedly has been compared to Japan's. Both countries suffered a collapse in asset prices, followed by a government scramble for some kind of stimulus response.</span></p><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">Many market watchers say America is going down the same path as Japan, a frightening prospect considering Japan's economy is well into its second "lost decade".</span></p><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">However, "I actually don't think it's a terribly fair comparison," says our guest </span><a href="http://us.lrd.yahoo.com/_ylt=Ak0sIfv3e7lEZBcstTYWYY9l7ot4;_ylu=X3oDMTEyYjc2OWR1BHBvcwMxMQRzZWMDYXJ0aWNsZQRzbGsDZW1pbHlwYXJrZXI-/SIG=112st956o/**http%3A//emilyparkerwrites.com/" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: small;">Emily Parker</span></a><span class="Apple-style-span" style="font-size: small;">, senior fellow at the </span><a href="http://us.lrd.yahoo.com/_ylt=AnpscNXaCsdOwQP0rJN2kHFl7ot4;_ylu=X3oDMTEyaGIwcGNnBHBvcwMxMgRzZWMDYXJ0aWNsZQRzbGsDYXNpYXNvY2lldHk-/SIG=12l3cm7a2/**http%3A//www.asiasociety.org/policy-politics/center-us-china-relations/our-fellows" style="text-overflow: ellipsis; color: rgb(6, 76, 192); text-decoration: none; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: small;">Asia Society</span></a><span class="Apple-style-span" style="font-size: small;">.</span></p><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">Case in point, initial policy reaction in Japan. While there are plenty of critics of America's recovery and stimulus packages, Parker said Japan's response (including recapitalization of failing institutions and monetary policy) only emerged after years of "severe" inaction. The zombie "no bank will fail" concept originated in Japan, she notes.</span></p><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">Also crippling Japan's recovery was a false sense of recovery, as reported by some media groups at the time, says Parker, who has written extensively about Japan and China for The WSJ and other publications. Despite reports of recovery, Japanese citizens remained pessimistic about their future, she says.</span></p><p style="text-overflow: ellipsis; margin-top: 0px; margin-right: 0px; margin-bottom: 0.77em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.45em; "><span class="Apple-style-span" style="font-size: small;">Click "more" to learn about Japan's generation-old business model and what needs to change if the world's second-largest economy is finally going to get back on track.</span></p></div></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-14849608678372393712009-12-21T08:17:00.000-08:002009-12-21T08:18:26.782-08:00REGIONAL ECONOMIC COMPASS 2010<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.65em; margin-left: 0px; padding-top: 0.65em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; "><h2 style="margin-top: -10px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 14px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-family: Arial, sans-serif; font-size: 11px; font-weight: normal; color: rgb(0, 46, 88); "><p><span class="Apple-style-span" style="font-size: medium;"><br /></span></p><ul><li><div align="justify"><span class="Apple-style-span" style="font-size: medium;">What kind of recovery is in store?<br /><br />Investors and policymakers are in general agreement that the world economy has entered a recovery phase. The question now is what kind of recovery can we expect? In our view, this will be an uneven recovery, with the US and Europe, in particular, trudging slowly along the recovery path given their impaired financial systems and continued deleveraging, especially by households which are rebuilding their tattered finances.<br /><br /></span></div></li><li><div align="justify"><span class="Apple-style-span" style="font-size: medium;">Asia: From rebound to recovery<br /><br />Asia is leading the charge in the global recovery as both demestic demand and exports are gathering momentum. Financial markets have rebounded and private capital has begun to flow back as investors are regaining an appetite for risk. But there are still doubts about whether Asia has built up sufficient momentum for a self-sustaning recovery if the G-3 economies recover at a snail-like pace.<br /><br /></span></div></li><li><div align="justify"><span class="Apple-style-span" style="font-size: medium;">Central banks to signal end to policy largesse?<br /><br />As there are clearer signs of global economic recovery, financial conditions have stabilised amid improved credit markets. Major central banks are starting to prepare their exit strategies or are even gradually unwinding the unconventional liquidity measures they introduced early this year to stave off a second global depression. Although the Fed, Bank of Japan, European Central Bank and Bank of England have all signalled that quantitative easing will be gradually unwound by next year, it may be some time before interest rates are increased. Mounting concerns over new asset bubbles in Asia have prompted some central banks to tighten regulations and rein in the excessive run-up in asset prices. Some central banks have implemented capital controls to thwart the speculative inflows. In our opinion, most central banks will start to signal a shift and rein in the excessive run-up in asset prices. Some central banks have implemented capital controls to thwart the speculative inflows. In our opinion, most central banks will start to signal a shift to monetary tightening no earlier than 2H 2010.<br /><br /></span></div></li><li><span class="Apple-style-span" style="font-size: medium;">Asian currencies at turning points<br /><br />Bolstered by strengtening economic growth prospects and a growth differential which is in Asia's favour, regional currencies will climb back on an appreciation path for the greater part of 2010. That said, regional central banks' fear of the impact of stronger currencies on export competitiveness is likely to limit the magnitude of the appreciation.<br /><br /></span></li><li><span class="Apple-style-span" style="font-size: medium;">Major risks to the outlook<br /><br />Include (i) a weaker-than-expected recovery in the developed countries;<br /> (ii) new asset bubbles;<br /> (iii) mistiming of economic stimulus withdrawal or premature monetary tightening, and<br /> (iv) a slower-than-expected pick-up in private sector demand.</span></li><div><br /></div></ul></span></h2></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-24969626928030138042009-12-21T08:15:00.000-08:002009-12-21T08:16:48.972-08:00European markets push higher ahead of US open<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.65em; margin-left: 0px; padding-top: 0.65em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; "><h2 style="margin-top: -10px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">European stock markets up modestly ahead of expected Wall Street advance<br /></span></h2><a href="http://us.rd.yahoo.com/finance/news/apf/SIG=10kfmofol;_ylt=AjlHYBQjLiAzSJ4ZIy3DEyDeba9_;_ylu=X3oDMTE4azhlNXFhBHBvcwMxBHNlYwNuZXdzcHJvdmlkZXJjb250ZW50aW5mbwRzbGsDYXA-/*http://www.ap.org/" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img src="http://l.yimg.com/a/i/us/fi/gr/ap_106x27.gif" alt="ap" class="sponsorimage" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; float: left; " /></a><div class="toolbar yfi_share_article_container clear" style="margin-top: auto; margin-right: 10px; margin-bottom: auto; margin-left: auto; padding-top: 3px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up!<span class="right" style="line-height: 1.22em; "></span> <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">1</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/European-markets-push-higher-apf-3084411777.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: auto; overflow-y: hidden; "><div id="y-article-related" class="mod-group" style="margin-top: 0px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: auto; min-width: 232px; max-width: 240px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/26/53/19.jpg?x=200&y=132&q=85&sig=hWhdK_DANYVCTWs8o8b6Tg--" alt="AP - A man checks the electronic stock board of a securities firm indicating Japan's Nikkei 225 stock average gained ..." width="200" height="132" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - A man checks the electronic stock board of a securities firm indicating Japan's Nikkei 225 stock average gained ...</span></span></p></div></div><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="byline" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Pan Pylas, AP Business Writer </span></span><span class="Apple-style-span" style="font-size: medium;">, </span><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Monday December 21, 2009, 7:30 am EST</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">LONDON (AP) -- European stock markets and Wall Street futures rose Monday amid hopes that the recent bout of selling may have run its course. However, bigger gains are not anticipated over the coming days as trading volumes fall because more and more traders are shutting up shop for the Christmas break.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The FTSE 100 index of leading British shares was up 58.22 points, or 1.1 percent, at 5,255.03 while Germany's DAX rose 38.59 points, or 0.7 percent, to 5,869.80. The CAC-40 in France was 26.02 points, or 0.7 percent, higher at 3,820.46.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Wall Street was also poised to open higher at the open later -- Dow futures were up 31 points, or 0.3 percent, at 10,302 while the broader Standard & Poor's 500 futures rose 4.3 point2, or 0.4 percent, to 1,102.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Activity in all markets is being affected heavily by the upcoming year-end -- many investors have already packed up for the year for the Christmas and New Year break. With others set to follow suit in the coming days, trading could well be fairly volatile, especially if they decide to book profits accumulated over the nine-month bull run.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"With volumes steadily dropping ahead of the holiday, most are happy to sit the next couple of weeks out and look at the markets with a fresh pair of eyes in 2010," said Philip Gillett, a sales trader at IG Index.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"For the short-term at least, it seems unlikely that stock markets will make much progress," he added.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Earlier, Asia experienced a mixed session, with Japan's Nikkei index boosted by figures showing that the country's exports fell by their smallest amount in 14 months during November. The news raised hopes that a turnaround in Japan's export sector, the engine of the country's economy, is sustainable.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">However, sentiment in the region was dampened by sluggish sessions in Hong Kong and Shanghai as investors were spooked by signs China's government may step up restrictions on the booming real estate sector and the country's banks may have to raise billions in new capital.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Nikkei advanced 41.42 points, or 0.4 percent, to 10,183.47. Markets in Taiwan and Thailand also rose.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Hong Kong's benchmark dropped 227.78 points, or 1.1 percent, to 20,948.10. China's Shanghai index was down most of the day before closing 0.3 percent higher at 3,122.97. And South Korea's Kospi fell 0.2 percent while Australia's main market lost 0.3 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In the currency markets, the euro recovered modestly from three and a half month dollar lows of $1.4281, trading 0.3 percent higher on the day at $1.4344.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The dollar has bounced back from 15-month euro lows in the last three weeks amid mounting expectations that the U.S. Federal Reserve will start withdrawing its extraordinary liquidity measures and raising interest rates sooner than expected. Meanwhile, the euro has been dogged by concerns over the economic situation in a number of European countries.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Jane Foley, research director at Forex.com, said these concerns are likely to keep the euro under pressure for a while yet.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The downgrading of Greece's sovereign debt and expectations of more bad news from Spain and Portugal and potentially from Ireland, Iceland and the Baltics is likely to continue weighing on the euro going forward," said Foley.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, the dollar was 0.1 percent higher at 90.44 yen -- as recently as late November, the dollar had sunk to a 14-year low of 84.81 yen.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Oil prices were slightly higher, with benchmark crude for January delivery up 20 cents to $73.56. The January contract, which expires later on Monday, rose 71 cents on Friday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">AP Business Writer Jeremiah Marquez in Hong Kong contributed to this report.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-52242161406429722422009-12-21T08:13:00.000-08:002009-12-21T08:14:36.199-08:00Merger news from Sanofi, Bucyrus drives stocks up<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.65em; margin-left: 0px; padding-top: 0.65em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; "><h2 style="margin-top: -10px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Corporate dealmaking sends stock market higher at beginning of holiday-shortened week<br /></span></h2><a href="http://us.rd.yahoo.com/finance/news/apf/SIG=10kfmofol;_ylt=AjlHYBQjLiAzSJ4ZIy3DEyDeba9_;_ylu=X3oDMTE4azhlNXFhBHBvcwMxBHNlYwNuZXdzcHJvdmlkZXJjb250ZW50aW5mbwRzbGsDYXA-/*http://www.ap.org/" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img src="http://l.yimg.com/a/i/us/fi/gr/ap_106x27.gif" alt="ap" class="sponsorimage" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; float: left; " /></a><div class="toolbar yfi_share_article_container clear" style="margin-top: auto; margin-right: 10px; margin-bottom: auto; margin-left: auto; padding-top: 3px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up!<span class="right" style="line-height: 1.22em; "></span> <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">0</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Stock-futures-pointing-toward-apf-3410417528.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: auto; overflow-y: hidden; "><div class="mod related-companies" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; clear: both; "><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: block; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: both; "><h3 style="margin-top: 0px; margin-right: 0.9em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(102, 102, 102); float: left; "><span class="Apple-style-span" style="font-size: medium;">Companies:</span></h3><ul class="symbols" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: block; float: left; "><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/news-topic-related-tags-delimiter.png); background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=AhkU8Cdzxx1PgTmE.6RdUiPeba9_;_ylu=X3oDMTFjN3NlZWMwBHBvcwMxBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDYnVjeXJ1c2ludGVy?s=bucy" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Bucyrus International Inc.</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/news-topic-related-tags-delimiter.png); background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=Au1v2LvMtffK.lzxV4MeQWneba9_;_ylu=X3oDMTFhMW9mdXFtBHBvcwMyBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDY2hhdHRlbWluYw--?s=chtt" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Chattem Inc.</span></a></li><li class="last" style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: none; background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=AnQIO82rVGfB8QTGa8Zc.5_eba9_;_ylu=X3oDMTFjNG1mb29yBHBvcwMzBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDbW90b3JzbGlxdWlk?s=mtlqq.pk" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Motors Liquidation Company</span></a></li></ul></li></ul></div></div><div id="y-article-related" class="mod-group" style="margin-top: 0px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: auto; min-width: 232px; max-width: 240px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 250px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AoMTZF.nh4ilLwPU8L1hlTbeba9_;_ylu=X3oDMTExcG0zNDhvBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDYnVjeQ--?s=BUCY" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">BUCY</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_bucy" style="line-height: 1.22em; ">55.96</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_bucy" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+5.12</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AjF0nlpAuQpIRMFmpVRrOCbeba9_;_ylu=X3oDMTE5ajBucGxzBHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JidWN5?s=BUCY" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/BUCY/chart;range=1d/image;size=179x98" alt="Chart for Bucyrus International, Inc." title="Chart for Bucyrus International, Inc." style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AuqEuGUHS5gsFobhm00qBq7eba9_;_ylu=X3oDMTExdWhobjhlBHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2h0dA--?s=CHTT" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">CHTT</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_chtt" style="line-height: 1.22em; ">92.86</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_chtt" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+22.88</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AiMFCY05OnbmesoEpVjZC9Teba9_;_ylu=X3oDMTE5MDZndGQxBHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JjaGF0?s=CHTT" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/CHTT/chart;range=1d/image;size=179x98" alt="Chart for Chattem, Inc." title="Chart for Chattem, Inc." style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr><tr tabindex="2" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Ar5EhPaCYCjTdk9ARVzRx2Xeba9_;_ylu=X3oDMTE0dTlwbGl0BHBvcwM1BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDbXRscXFwaw--?s=MTLQQ.PK" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">MTLQQ.PK</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_mtlqq.pk" style="line-height: 1.22em; ">0.52</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_mtlqq.pk" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.02</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AtTo8FpkxRL9XsuFG8a5Ue_eba9_;_ylu=X3oDMTE5OGR0aXRsBHBvcwM2BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jtb3Rv?s=MTLQQ.PK" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/MTLQQ.PK/chart;range=1d/image;size=179x98" alt="Chart for MOTORS LIQUIDATION" title="Chart for MOTORS LIQUIDATION" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr><tr tabindex="3" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AudOivdwOjHSbnw9clf1bzveba9_;_ylu=X3oDMTExcmJhZG0wBHBvcwM3BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDb3JjbA--?s=ORCL" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">ORCL</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_orcl" style="line-height: 1.22em; ">24.23</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_orcl" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.11</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Al4JTmO8UZSxjSH8Jk_OHL7eba9_;_ylu=X3oDMTE5cm02bWY0BHBvcwM4BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JvcmFj?s=ORCL" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/ORCL/chart;range=1d/image;size=179x98" alt="Chart for Oracle Corporation" title="Chart for Oracle Corporation" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr><tr tabindex="4" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AjGVR_xEBx_yIsmcrtUQddreba9_;_ylu=X3oDMTEyaWxqcjNhBHBvcwM5BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDcmltdG8-?s=RIM.TO" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">RIM.TO</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_rim.to" style="line-height: 1.22em; ">74.73</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_rim.to" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.77</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Ame6V2gQjQxXnB0RBE7Md33eba9_;_ylu=X3oDMTFhaHRvcDNmBHBvcwMxMARzZWMDcmVsYXRlZC1xdW90ZXMEc2xrA2NoYXJ0Zm9ycmVzZQ--?s=RIM.TO" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/RIM.TO/chart;range=1d/image;size=179x98" alt="Chart for RESEARCH IN MOTION LTD" title="Chart for RESEARCH IN MOTION LTD" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="byline" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Stephen Bernard, AP Business Writer </span></span><span class="Apple-style-span" style="font-size: medium;">, </span><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Monday December 21, 2009, 10:28 am</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- Another wave of corporate dealmaking sent stocks sharply higher in early trading Monday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">French drug maker Sanofi-Aventis SA is buying health care products company Chattem Inc. for $1.9 billion, and mining equipment maker Bucyrus International Inc. is buying Terex Corp.'s mining equipment division for $1.3 billion. Meanwhile, Dutch auto maker Spyker Cars submitted a new offer to buy Saab from General Motors Co.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stocks added to modest gains from Friday that followed upbeat earnings reports from business software company Oracle Corp. and BlackBerry maker Research In Motion Ltd.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Trading is likely to be volatile this week as traders take vacation ahead of the Christmas holiday on Friday. Trading has been thinning out since November, as many investors step away from the market to lock in the big gains they've amassed during a nine-month rally in stocks. The Standard & Poor's 500 index is up 23.5 percent for the year.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Dow Jones industrial average rose 116.54, or 1.1 percent, at 10,445.43. The Standard & Poor's 500 index rose 13.17, or 1.2 percent, at 1,115.64, while the Nasdaq composite index rose 24.67, or 1.1 percent, at 2,236.36.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A weak dollar was also helping to boost stocks. The ICE Futures U.S. dollar index, which tracks the dollar against other major currencies, fell 0.1 percent. A weaker dollar has been a big driver of the stock market's rally this year. Investors have taken advantage of record-low interest rates to borrow cheaply and invest in assets like stocks and commodities.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Oil rose 70 cents to $74.06 a barrel on the New York Mercantile Exchange. Gold fell.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Bond prices fell sharply Monday as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite to price, rose to 3.63 percent from 3.54 percent late Friday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">More than three stocks rose for every one that fell on the New York Stock Exchange, where volume was low at 180.2 million shares compared with 681.1 million shares at the same time on Friday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Volume was exceptionally high Friday as several types of options contracts expired and S&P made changes to the S&P 500. That index is the basis for many indexed mutual funds, so those funds were forced to alter their holdings to match the reconstituted index.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In other trading, the Russell 2000 index of smaller companies rose 6.58, or 1.1 percent, to 617.15.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 rose 1.2 percent, Germany's DAX index gained 0.7 percent, and France's CAC-40 rose 1.1 percent.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-65258136354424764842009-12-17T07:00:00.000-08:002009-12-17T07:01:07.262-08:00Bursa Malaysia ditutup rendah<span class="Apple-style-span" style="font-family: arial, verdana, sans-serif; font-size: 12px; line-height: 15px; "><p><span class="Apple-style-span" style="font-size: medium;">KUALA LUMPUR 16 Dis - Harga saham di Bursa Malaysia ditutup rendah hari ini apabila ramai pelabur sama ada kekal di luar pasaran atau mengurangkan pegangan masing-masing sebelum cuti akhir tahun.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Semasa penutup, Indeks Komposit FTSE Bursa Malaysia (FBM) Kuala Lumpur turun 1.78 mata kepada 1,269.03.</span></p><p><span class="Apple-style-span" style="font-size: medium;">"Dagangan dijangka lesu untuk tempoh dua minggu akan datang apabila para pelabur menutup aktiviti dagangan masing-masing bagi akhir tahun ini," katanya.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Indeks FBM Emas ditutup turun 17.06 mata kepada 8,437.42, Indeks FBM Top 100 merosot 16.19 mata kepada 8,261.09 dan Indeks FBM70 turun 34.58 mata kepada 8,128.45. Indeks FBM Ace meningkat 30.63 mata kepada 4,246.78.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Indeks Kewangan turun 42.72 mata kepada 10,977.71 dan Indeks Perusahaan rugi 12.89 mata kepada 2,678.17. Indeks Perladangan menokok 37.05 mata kepada 6,340.70 berikutan tinjauan aliran meningkat bagi minyak sawit.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Seorang pakar industri menyatakan bahawa harga minyak sawit boleh meningkat ke paras RM2,800-RM3,000 setan metrik menjelang akhir suku pertama tahun depan, selepas dipacu oleh permintaan global yang lebih tinggi yang dijangka meningkat 5.5 juta tan metrik.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Secara keseluruhannya, 236 kaunter untung berbanding 352 kaunter rugi manakala 266 yang lain diniagakan tidak berubah.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Jumlah keseluruhan meningkat kepada 654.372 juta saham bernilai RM910.074 juta berbanding 527.575 juta saham bernilai RM802.227 juta semalam.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Bagi saham berwajaran tinggi, Sime Darby tidak berubah pada harga RM8.98, Maybank turun 12 sen kepada RM6.78, manakala CIMB dan Maxis turun 2.0 sen setiap satu masing-masing kepada RM13.08 dan RM5.38.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Perolehan di Pasaran Utama meningkat kepada 500.633 juta saham bernilai RM884.698 juta, berbanding dengan 427.92 juta saham bernilai RM768.26 juta yang dicatatkan semalam.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Waran meningkat kepada 19.237 juta saham bernilai RM2.614 juta, daripada perolehan 16.60 juta saham bernilai RM2.55 juta yang dicatatkan semalam.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Bagaimana pun jumlah dagangan di Pasaran ACE turun kepada 50.426 juta unit bernilai RM12.869 juta, daripada 81.32 juta unit bernilai RM30.09 juta yang dicatatkan sebelum ini.</span></p><p><span class="Apple-style-span" style="font-size: medium;">Produk pengguna mencatatkan 17.759 juta saham diniagakan di Papan Utama, produk perusahaan 138.611 juta, pembinaan 34.627 juta, dagangan dan perkhidmatan 177.485 juta, teknologi 28.725 juta, prasarana 3.833 juta, kewangan 34.768 juta, hotel 8.736 juta, hartanah 42.202 juta, perladangan 12.026 juta, perlombongan 9,600, REIT 1.804 juta dan dana tertutup 45,100.</span></p><p><span class="Apple-style-span" style="font-size: medium;">— Bernama</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-35723731149732377182009-12-17T06:53:00.000-08:002009-12-17T06:54:12.773-08:00Dubai projects go ahead as officials visit U.S<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Thursday December 17, 2009, 9:49 am</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">For more stories on the Dubai crisis</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">DUBAI (Reuters) - As Dubai developers reassured the world their ambitious construction projects would go ahead, officials from the emirate were expected in New York to shore up confidence after a debt landslide threatened its top companies.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A government source said Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai's Supreme Fiscal Committee, and Mohammed al-Shaibani, chief executive of the Investment Corporation Dubai, were due to visit New York and Washington on Thursday and Friday, following a trip to London on Wednesday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The two Dubai officials will meet with U.S. Treasury Secretary Timothy Geithner on Thursday afternoon in Washington to discuss last month's debt crisis, the department said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">With global markets recovering from two years of financial crisis, Dubai delivered a sizeable aftershock on November 25 when it asked for a standstill on $26 billion of debt linked to its flagship conglomerate Dubai World and its two main property units, Nakheel and Limitless.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">This week Dubai's wealthier neighbor and fellow member of the United Arab Emirates, Abu Dhabi, lent it $10 billion to meet Dubai World's obligations until the end of April and stave off a bond default by Nakheel, developer of its palm-shaped islands.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Dubai's government may also repay outstanding 2010 and 2011 Islamic bonds issued by Nakheel and provide further funds to Dubai World, the Financial Times said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Abu Dhabi's loan has alleviated immediate concerns, but banks remain uneasy about the billions of dollars they lent to fuel Dubai's development boom on the assumption the emirate's or the oil-rich federal government would back the debt.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The headline risk remains, as Dubai World is still involved in a fluid process, so it is still key to proceed the dialogue with international investors," said Ali Khan, managing director and head of brokerage at Arqaam Capital.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"We really need to see more practical implementations: new regulations should be adopted ... decisions on legal issues and regulation should be cleared and up to international standards," said Samer al-Jaouni, General Manager of Middle East Financial Brokerage Co.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">PROJECT GO-AHEAD</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Dubai's developers said their projects were still going ahead.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Development on Nakheel's The World islands, one of the assets it might look to sell to ease the debt crunch, is set to begin within months, a company spokeswoman said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"Thirty-three islands have been handed over to developers in the past year and since handover they have been working to obtain the necessary design and planning approvals, permits, and titles," she said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"We anticipate that several developers will be ready to start construction on their islands in the coming months."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, Dubai Properties Group, a unit of Dubai Holding, which is owned by the emirate's ruler, said it was committed to completing its Tiger Woods golf course, a rare piece of good news for the world's top golfer, who has lost a number of his commercial backers since being caught up in a sex scandal.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In the boom years, Dubai lured wealthy visitors and courted the media with celebrity-endorsed projects and developments such as The World, an man-made archipelago in the shape of a world map.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">But whereas neighbors funded growth with proceeds from soaring oil prices, Dubai borrowed to invest through a network of state-linked conglomerates that offered limited transparency.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Dubai World's troubles have raised fears among investors that other government-linked firms could also face problems.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">DELAY REAL ESTATE RECOVERY</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Goldman Sachs said events in Dubai could delay the recovery of the UAE's real estate sector, already hit hard by the global financial crisis, and put downward pressure on property prices and rentals.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Data for the third quarter of 2009 suggested the UAE real estate sector was showing early signs of recovery, with prices and rentals beginning to stabilize.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The extent of the impact on the sector will largely be a function of how the restructuring of Dubai World unfolds - which remains unclear at this stage," the brokerage said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Goldman, which revised its price targets on top picks Aldar Properties and Arabtec Holding, said the real estate and construction focus in the UAE is shifting to Abu Dhabi from Dubai.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Property prices in Dubai are down about 50 percent from their peaks last year and billions of dollars worth of projects have been put on hold or canceled since the economic downturn began.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">(Writing by Andrew Callus and Mike Nesbit; Editing by Will Waterman)</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-21539916502048372512009-12-17T06:50:00.000-08:002009-12-17T06:51:33.143-08:00Stock futures fall after jobs data Stock futures extend decline after jobs data, dollar continues to rise against euro<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.65em; margin-left: 0px; padding-top: 0.65em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; "><h2 style="margin-top: -10px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Stock futures extend decline after jobs data, dollar continues to rise against euro<br /></span></h2><a href="http://us.rd.yahoo.com/finance/news/apf/SIG=10kfmofol;_ylt=AjlHYBQjLiAzSJ4ZIy3DEyDeba9_;_ylu=X3oDMTE4azhlNXFhBHBvcwMxBHNlYwNuZXdzcHJvdmlkZXJjb250ZW50aW5mbwRzbGsDYXA-/*http://www.ap.org/" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img src="http://l.yimg.com/a/i/us/fi/gr/ap_106x27.gif" alt="ap" class="sponsorimage" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; float: left; " /></a><div class="toolbar yfi_share_article_container clear" style="margin-top: auto; margin-right: 10px; margin-bottom: auto; margin-left: auto; padding-top: 3px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up!<span class="right" style="line-height: 1.22em; "></span> <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">0</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Stocks-open-lower-on-weak-apf-2002806456.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: auto; overflow-y: hidden; "><div class="mod related-companies" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; clear: both; "><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: block; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: both; "><h3 style="margin-top: 0px; margin-right: 0.9em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(102, 102, 102); float: left; "><span class="Apple-style-span" style="font-size: medium;">Companies:</span></h3><ul class="symbols" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: block; float: left; "><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/news-topic-related-tags-delimiter.png); background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=AusXf5HsyUT9NKjM2ufGbMzeba9_;_ylu=X3oDMTFjNTkzNWFxBHBvcwMxBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDY2l0aWdyb3VwaW5j?s=c" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Citigroup, Inc.</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/news-topic-related-tags-delimiter.png); background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=AmdPgmrfRyBiZbyWvXdE1iTeba9_;_ylu=X3oDMTFjazk1a2ZjBHBvcwMyBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDZGlzY292ZXJmaW5h?s=dfs" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Discover Financial Services</span></a></li><li class="last" style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 1em; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: block; clear: none; float: left; white-space: nowrap; background-image: none; background-repeat: no-repeat; background-position: 100% 50%; "><a href="http://finance.yahoo.com/q/h;_ylt=AqWaZuU0Nj3_j2ilpLxUm9Peba9_;_ylu=X3oDMTFjZHFzc2RmBHBvcwMzBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDZ2VuZXJhbG1pbGxz?s=gis" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">General Mills Inc.</span></a></li></ul></li></ul></div></div><div id="y-article-related" class="mod-group" style="margin-top: 0px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: auto; min-width: 232px; max-width: 240px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 204px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmU02vFVGb2jhJqtailXmqzeba9_;_ylu=X3oDMTB1cTU0NmhrBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDYw--?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">C</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_c" style="line-height: 1.22em; ">3.17</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_c" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.28</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AguVgicN44jO7vGCOV7FhXLeba9_;_ylu=X3oDMTE5aHFhdTk2BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JjaXRp?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/C/chart;range=1d/image;size=179x98" alt="Chart for CITIGROUP INC" title="Chart for CITIGROUP INC" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AnaI2d6cUuQrfRBVOHu3eQXeba9_;_ylu=X3oDMTEwYmtna2tkBHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZGZz?s=DFS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">DFS</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_dfs" style="line-height: 1.22em; ">15.96</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_dfs" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.46</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AoDA5ne9jZ56hufULiCdPFDeba9_;_ylu=X3oDMTE5MmI4bms2BHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JkaXNj?s=DFS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/DFS/chart;range=1d/image;size=179x98" alt="Chart for DISCOVER FIN SVCS" title="Chart for DISCOVER FIN SVCS" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr><tr tabindex="2" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AiS7rmg.8E8GEBBkyQCgdZneba9_;_ylu=X3oDMTEwMm5mcG4wBHBvcwM1BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZ2lz?s=GIS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">GIS</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_gis" style="line-height: 1.22em; ">68.91</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 5px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_gis" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.62</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AmbhDXjdGY5rwylJOIME1Z7eba9_;_ylu=X3oDMTE5N2pyanBuBHBvcwM2BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JnZW5t?s=GIS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/GIS/chart;range=1d/image;size=179x98" alt="Chart for GEN MILLS INC" title="Chart for GEN MILLS INC" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; padding-top: 1px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="byline" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Ieva M. Augstums, AP Business Writer </span></span><span class="Apple-style-span" style="font-size: medium;">, </span><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Thursday December 17, 2009, 9:16 am</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stock futures are indicating a lower opening Thursday on Wall Street after an unexpected rise in new jobless claims suggested continued labor market weakness.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Labor Department said that the number of new claims for unemployment benefits rose to 480,000 last week, up 7,000 from the previous week.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Markets in Europe and Asia also slipped as the dollar rose against the euro on speculation the Federal Reserve might increase rates sooner than expected.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Investors will get more evidence on the nation's economic recovery as the Conference Board issues its forecast of economic activity for November. Analysts expect the index to show a 0.7 percent rise last month following a 0.3 percent increase in October.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The report is expected at 10 a.m. EST.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Ahead of the opening bell, Dow Jones industrial average futures fell 67, or 0.6 percent, at 10,384. Standard & Poor's 500 index futures fell 8.70, or 0.8 percent, at 1,097.00, while Nasdaq 100 index futures fell 14.00, or 0.8 percent, at 1,786.00.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The stock market stalled after an early advance Wednesday as the Federal Reserve reiterated its commitment to keep rates low. The Fed also said it expects to wind down several emergency lending programs launched at the height of the financial crisis as the programs are set to expire next year. The Dow Jones industrials slipped 11 points, while broader indexes ended with modest gains but off their highest levels of the day.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In earnings news Thursday, credit card lender Discover Financial Services said its fiscal fourth-quarter profit slipped 19 percent, hurt by more bad loans.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Package delivery FedEx provided a cautious outlook for its fiscal third quarter after reporting second-quarter results fell 30 percent from a year ago. Its shares fell almost 4 percent to $86.60 in premarket trading.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Drugstore operator Rite Aid said its fiscal third-quarter loss narrowed, as a rise in prescriptions helped offset a continued slump in same-store sales. And General Mills Inc. said its fiscal second-quarter profit rose 50 percent as shoppers spent more on its cereal and snacks. The company also boosted its full-year earnings guidance.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Late Wednesday, the Treasury Department backed out of its plans to sell its 34 percent stake in Citigroup Inc.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The move came after investors responded tepidly to a massive stock offer by the New York-based bank, which is trying to repay $20 billion of the $45 billion in government support it received to weather the financial crisis.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi is the last remaining Wall Street bank in which the government still owns a major stake. Its shares were down 9 percent at $3.14 in npremarket trading.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Also, Bank of America announced that insider Brian Moynihan will succeed outgoing CEO Ken Lewis, ending a months-long search complicated by pay restrictions.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.53 percent from 3.60 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, was unchanged from 0.05 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The dollar rose against other major currencies, while gold prices fell.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Overseas, Japan's Nikkei stock average fell 0.9 percent. In afternoon trading, Britain's FTSE 100 was down 1.1 percent, Germany's DAX index was down 0.8 percent, and France's CAC-40 was down 0.7 percent.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-59784961823474710862009-12-17T06:49:00.001-08:002009-12-17T06:49:58.121-08:00New jobless benefit claims rise unexpectedly<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.65em; margin-left: 0px; padding-top: 0.65em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; "><h2 style="margin-top: -10px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">New claims for jobless benefits unexpectedly rise to 480,000, signaling labor market weakness<br /></span></h2><a href="http://us.rd.yahoo.com/finance/news/apf/SIG=10kfmofol;_ylt=AjlHYBQjLiAzSJ4ZIy3DEyDeba9_;_ylu=X3oDMTE4azhlNXFhBHBvcwMxBHNlYwNuZXdzcHJvdmlkZXJjb250ZW50aW5mbwRzbGsDYXA-/*http://www.ap.org/" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img src="http://l.yimg.com/a/i/us/fi/gr/ap_106x27.gif" alt="ap" class="sponsorimage" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; float: left; " /></a><div class="toolbar yfi_share_article_container clear" style="margin-top: auto; margin-right: 10px; margin-bottom: auto; margin-left: auto; padding-top: 3px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up!<span class="right" style="line-height: 1.22em; "></span> <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">0</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/New-jobless-benefit-claims-apf-2962567162.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.147/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: auto; overflow-y: hidden; "><div id="y-article-related" class="mod-group" style="margin-top: 0px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: auto; min-width: 232px; max-width: 240px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/26/48/12.jpg?x=129&y=232&q=85&sig=LYARV6.rULTet_s_lTIawg--" alt="AP - FILE - In this Nov. 4, 2009 file photo, Amy Gress, top, hands a resume to high school ..." width="129" height="232" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this Nov. 4, 2009 file photo, Amy Gress, top, hands a resume to high school ...</span></span></p></div></div><div class="mod provider-attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><span class="byline" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Martin Crutsinger, AP Economics Writer </span></span><span class="Apple-style-span" style="font-size: medium;">, </span><span class="datetime" style="line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On Thursday December 17, 2009, 9:14 am</span></span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">WASHINGTON (AP) -- The number of newly laid off workers filing claims for unemployment benefits unexpectedly rose last week as the recovery of the nation's battered labor market proceeds in fits and starts.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week. That was a worse performance than the decline to 465,000 that economists had expected.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The four-week average for claims, which smooths out fluctuations, did fall, dipping to 467,500, the 15th straight decline, viewed as an encouraging sign that the labor market is gradually improving. The four-week average is now at its lowest point since late September 2008, the period when the financial crisis was hitting with full force.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Unemployment claims have been on a downward trend since this summer. That improvement is seen as a sign that jobs cuts are slowing and hiring could pick up as soon as early next year. But the rise in weekly claims of 7,000 last week, which had followed an increase of 19,000 the previous week, shows that the improvement has been halting.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Economists closely monitor jobless claims, which are considered a key gauge of the pace of layoffs with continuing claims viewed as an indication of how quickly laid off workers are getting new jobs.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Analysts believe that claims need to fall to about 425,000 for several weeks to signal the economy is actually beginning to add jobs.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The government said that the number of people receiving regular benefits rose by 5,000 to 5.19 million for the week ending Dec. 5. That figure does not include millions of people who have used up the regular 26 weeks of benefits typically provided by the state and are now receiving extended benefits for up to 73 additional weeks, paid for by the federal government.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The people receiving extended benefits jumped to 4.73 million for the week ending Nov. 28, an increase of 143,759 from the previous week. That big rise reflected the fact that a total of 17 states are now processing claims for the extension of benefits that Congress approved last month.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The economy grew at a 2.8 percent annual rate in the July-September quarter, the first growth in the gross domestic product after a record four straight quarters of shrinking GDP. A recent string of more positive reports is causing some analysts to revise higher their forecasts for growth in the current quarter to 3 percent or slightly better.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">However, the concern is that unless unemployment starts to come down in a sustained way, consumer spending, which accounts for 70 percent of economic activity, will begin to falter, putting in jeopardy the fragile recovery from the nation's longest recession since the 1930s.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The jobless rate did dip in November to 10 percent, down from a 26-year high of 10.2 percent in October. But analysts are worried that unemployment will resume rising in coming months and will not peak until hitting 10.5 percent next summer. However, the November jobless report did show that businesses slashed their payrolls by just 11,000 jobs on net in November, the smallest decrease since the recession began two years ago.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Federal Reserve officials on Wednesday concluded their final meeting of the year with a decision to hold interest rates at "exceptionally low levels" for an extended period. The Fed has kept its key federal funds rate at a record low near zero percent for the past year and many economists don't look for any increases until the unemployment rate begins to move lower on a consistent basis.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In its assessment of the economy, Fed officials noted that economic activity was continuing to pick up and the pace of layoffs has been slowing.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">There were 29 states with increases of more than 1,000 claims for the week ending Dec. 5 led by California, with a rise of 28,353, which it attributed in part to the fact that the unemployment offices were open for the full week giving applicants more time to file following the Thanksgiving holiday. Other states with big gains were Georgia, North Carolina, Pennsylvania and New York.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The two states with declines of more than 1,000 were Kansas, with a drop of 3,803, and Kentucky, down by 2,048.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-78374203488209759132009-12-17T06:47:00.000-08:002009-12-17T06:48:29.305-08:00Bursa Malaysia<div><br /></div><div><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif, Helvetica, sans-serif; font-size: 13px; line-height: 16px; "><table cellpadding="0" cellspacing="0" width="100%" class="element" style="font-size: 13px; line-height: 1.3em; padding-top: 0px; padding-right: 10px; padding-bottom: 0px; padding-left: 10px; color: rgb(0, 0, 0); "><tbody><tr><td colspan="2"><h2 style="font-size: 13px; color: rgb(165, 82, 28); font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; ">17 December 2009</h2><br /><p class="MsoBodyText2" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; line-height: 12pt; vertical-align: baseline; ">Stocks in Bursa Malaysia fell 2.06 points to close at 1266.97 points on Thursday, reversing the gain in the morning as investors took profit ahead of the long weekend. The Industrial Index declined 0.19% to 2680.25 points. However, Properties Index gained 0.32% while Plantation Index added 0.28% to 6358.42 points. The market traded within a range of 7.01 points between an intra-day high of 1272.59 and a low of 1265.58 during the session. Actively traded stocks include SCOMI-LA, DSCSOL, GPACKET-WA, AFFIN-WC, AXIATA, ETITECH, HUBLINE-WA, LCL, GAMUDA and KNM.</p><p class="MsoBodyText2" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; line-height: 12pt; vertical-align: baseline; "> </p><p class="MsoBodyText2" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; line-height: 12pt; vertical-align: baseline; ">Meanwhile, trading volume increased to 690.81 mil shares worth RM1036.26 mil as compared to Wednesday's 654.38 mil shares worth RM910.08 mil.Lagging Movers were CIMB (-6 sen to RM13.02), AXIATA (-2 sen to RM3.02), MISC (-8 sen to RM8.63), AMMB (-5 sen to RM4.91) and ASTRO (-11 sen to RM3.04). Leading Movers were GENTING (+4 sen to RM7.23), IOI (+1 sen to RM5.54), YTL (+5 sen to RM7.51), SIME (+1 sen to RM8.99) and KLK (+8 sen to RM16.08). Lastly, market breadth was negative with 324 losers as compared to 289 gainers.</p></td></tr><tr><td><br /><div align="left" class="source">Source: <span><b><i>JF Apex Securities Bhd</i></b></span></div></td></tr></tbody></table></span></div>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-12653552074151799872009-12-15T07:16:00.000-08:002009-12-15T07:17:38.561-08:00In Exxon Deal, Signs of the New Gusher<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><cite style="font-style: normal; font-weight: normal; line-height: 1.22em; display: block; color: rgb(121, 121, 121); "><span class="Apple-style-span" style="font-size: medium;">by Jad Mouawad and Clifford Krauss<br />Tuesday, December 15, 2009</span></cite></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; width: 515px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span style="line-height: 1.22em; color:#666666;"><span class="Apple-style-span" style="font-size: medium;">provided by</span></span><span class="Apple-style-span" style="font-size: medium;"><br /></span><a href="http://us.lrd.yahoo.com/_ylt=AtVtAoJgJhPJQz4sB.ZulGAy0tIF;_ylu=X3oDMTEycDU1dHJsBHBvcwMxBHNlYwNhcnRpY2xlBHNsawN0aGVuZXd5b3JrdGk-/SIG=10siqio46/**http%3A//www.nytimes.com/" style="line-height: 1.22em; color: rgb(15, 85, 195); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://us.news2.yimg.com/us.yimg.com/p/fi/16/53/76.gif" height="29" width="170" alt="The New York Times" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; " /></span></a></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Over the last decade, a handful of the nation's small energy companies pulled off a coup. Right under the noses of the industry's biggest players, they discovered huge amounts of natural gas in fields stretching from Texas to Pennsylvania.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">One of these companies, XTO Energy, grew almost unnoticed into the nation's second-largest gas producer, amassing a substantial portfolio of gas fields, and developing expertise in the complex technology needed to extract the gas from beds of a dark rock called shale.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Now, the biggest energy companies are paying attention.</span></p><table align="right" width="40%" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; border-top-color: rgb(215, 222, 238); border-right-color: rgb(215, 222, 238); border-bottom-color: rgb(215, 222, 238); border-left-color: rgb(215, 222, 238); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; "><tbody style="line-height: 1.22em; "><tr style="line-height: 1.22em; "><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; "><b style="line-height: 1.22em; ">More from <a href="http://us.lrd.yahoo.com/_ylt=Aup77PAb0ZuIU0i.S4YQxZwy0tIF;_ylu=X3oDMTEwM2VpdTEyBHBvcwMyBHNlYwNhcnRpY2xlBHNsawNueXRpbWVzY29t/SIG=10siqio46/**http%3A//www.nytimes.com/" style="line-height: 1.22em; color: rgb(15, 85, 195); text-decoration: none; ">NYTimes.com</a>:</b> <br /><br />• <a href="http://www.nytimes.com/2009/12/15/business/economy/15obama.html?ref=business?partner=yahoofinance" style="line-height: 1.22em; color: rgb(15, 85, 195); text-decoration: none; ">Obama Presses Biggest Banks to Lend More </a><br /><br />• <a href="http://us.lrd.yahoo.com/_ylt=Am7X8SSRRx47fad7bNPQj1sy0tIF;_ylu=X3oDMTEyOXUyZnVmBHBvcwMzBHNlYwNhcnRpY2xlBHNsawNtYW5hZ2luZ2dsb2I-/SIG=1339juuo9/**http%3A//www.nytimes.com/2009/12/13/business/13corner.html%3Fref=business%3Fpartner=yahoofinance" style="line-height: 1.22em; color: rgb(15, 85, 195); text-decoration: none; ">Managing Globally, and Locally </a><br /><br />• <a href="http://us.lrd.yahoo.com/_ylt=AgxhSLg9maz0AEJfT5JlKO4y0tIF;_ylu=X3oDMTEyYWg3NWtlBHBvcwM0BHNlYwNhcnRpY2xlBHNsawNldmVuYmlnZ2VydGg-/SIG=13alsd1r0/**http%3A//dealbook.blogs.nytimes.com/2009/12/15/even-bigger-than-too-big-to-fail/%3Fpartner=yahoofinance" style="line-height: 1.22em; color: rgb(15, 85, 195); text-decoration: none; ">Even Bigger Than Too Big to Fail</a></td></tr></tbody></table><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Exxon Mobil, the world's largest publicly traded oil and gas producer, said Monday that it had agreed to buy XTO in an all-stock deal valued at $31 billion, the biggest oil and gas deal in four years.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">The purchase allows Exxon to expand in shale gas, an area that has seen tremendous growth, and increase its gas resources by 45 trillion cubic feet, roughly equivalent to two years of domestic demand. The transaction is the company's biggest since the $81 billion merger of Exxon and Mobil in 1999.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">The acquisition extends Exxon's bet that fossil fuels will remain a critical part of the nation's energy supply for decades. At the same time, Exxon expects the demand for natural gas, which emits half as much carbon dioxide as coal when burned, will rise as the United States looks to pare its global warming emissions and the world seeks greener sources of energy.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">"This is not a near-term decision; this is about the next 10, 20, 30 years," Rex W. Tillerson, the chairman and chief executive of Exxon, said in a conference call on Monday. "We think there will be significant demand for natural gas in the future."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Shale gas drilling poses some environmental concerns in the communities where it occurs. Yet natural gas holds promise to help slow the growth in global carbon dioxide emissions, if power companies shift toward burning more gas and less coal.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Exxon said this month, in its long-term outlook on energy demand, that it expected natural gas consumption to grow faster than oil or coal consumption over the next two decades.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">"These unconventional resources are going to take on an increasing role in our energy needs," said Daniel Yergin, the chairman of IHS Cambridge Energy Research Associates, a consulting firm, adding that the interest of large oil companies in shale gas was fairly recent. "This demonstrates how important natural gas is now, seen as part of the mix for a low-carbon future."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">After largely ignoring the surge in domestic resources, Washington is starting to pay attention, too, as Congress struggles to come up with an energy and climate bill that will reduce carbon emissions.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">J. Larry Nichols, the chairman of Devon Energy and of the American Petroleum Institute, said: "Regardless whether or not Congress passes any legislation regulating carbon, the underlying fact is our nation is going to need a growing amount of electricity, and natural gas is in an excellent position to capture a significant amount of that market."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Big companies concentrated their efforts in recent years on international bets, leaving domestic exploration to smaller oil and gas companies with limited financial resources. Even as gas production grew in recent years, many companies went deeply into debt to finance their exploration.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Gas prices tumbled when the recession hit, leaving many of the small companies in a weakened financial position. That means more of them could become acquisition targets.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Gas prices have recovered from their lows in recent months, trading at $5.33 per thousand cubic feet in New York on Monday, after falling as low as $2.50 in September. At their highest levels, in 2004 and in 2008, gas prices rose above $14 per thousand cubic feet.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Exxon's deal is the latest and most significant signal that large companies are moving to make major investments in American shale fields. Over the last year, BP; Statoil, the Norwegian oil company; and Eni, the Italian oil company have bought several billion dollars of shale gas assets in Pennsylvania, Oklahoma, Texas and Arkansas.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">What may be emerging, industry analysts say, is a marriage between companies with deep pockets that need to expand their fossil-fuel reserves and companies that have staked out enormous fields but have little financial wherewithal to develop them.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">David Rockecharlie, co-head of the energy investment banking group at the Jefferies Group, who was a lead adviser to XTO in its negotiations with Exxon, estimated that it would take more than $1 trillion to develop domestic shale fields. That is an amount that independent producers cannot finance alone.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">The purchase could set off a fresh round of mergers and acquisitions in the energy sector, which had been quiet recently. The last major oil and gas deal was the $35 billion takeover of Burlington Resources, another gas company, by ConocoPhillips in 2005, according to data from Thomson Reuters.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">For major oil companies like Exxon, Shell, BP or Chevron, who have found it tough to increase their production and reserves on their own, big acquisitions offer a quick way to expand their operations after amassing mountains of cash in recent years. Industry executives and analysts predicted that potential takeover targets could include Chesapeake Energy, Devon Energy, EnCana and EOG Resources.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">"This is really a significant event, a paradigm shift for our sector," said John H. Pinkerton, chairman and chief executive of Range Resources, a major shale gas developer in Fort Worth, and also a possible takeover target. "There are obviously other majors looking at these shale plays. It would not surprise me at all to see these shale assets being bought by the major oil companies."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Exxon already has substantial gas production in Qatar, Russia and Nigeria. This month, it approved the construction of a $15 billion project in Papua New Guinea to supply gas to Japan and China. The company is also part of a $37 billion deal to deliver Australian gas throughout Asia over the next several decades.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">But the company has lagged in the United States, where XTO produces twice as much natural gas than Exxon does. With the help of some acquisitions of its own, XTO reported a 23 percent jump in gas production in the third quarter, to 2.33 billion cubic feet a day, putting it just behind Chesapeake as the top domestic producer.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Founded in 1986, XTO has developed a strong technical knowledge in developing shale gas, which Exxon would like to apply to unconventional gas holdings it has been building up in Poland, Hungary and Argentina, Mr. Tillerson said. Exxon will set up a production unit to manage its global portfolio of unconventional resources that will be based in Fort Worth, in XTO's current offices.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">The term unconventional resources is applied to a broad category of fuels like shale gas, tar sands and other forms of oil and gas that require sophisticated technology to extract and are typically more expensive to develop. Unlike traditional oil and gas supplies, which have been declining, reserves of unconventional resources are growing because of new discoveries.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">Exxon will assume XTO's $10 billion in debt as part of the deal.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-25784283328126064102009-12-15T07:14:00.000-08:002009-12-15T07:15:59.549-08:00November wholesale inflation up more than expected<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Wholesale inflation rises more than expected in November, led by surge in energy costs<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Martin Crutsinger, AP Economics Writer</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 8:54 am EST, Tuesday December 15, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">9</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/November-wholesale-inflation-apf-571550090.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">WASHINGTON (AP) -- Inflation at the wholesale level surged in November, reflecting price jumps in energy and other products. The bigger-than-expected increase is certain to raise the attention of Federal Reserve policymakers beginning a two-day meeting on interest rates.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Fed has been able to keep interest rates at record-low levels to bolster the shaky recovery, but if inflation pressures begin to mount, the central bank could be forced to start raising rates sooner than expected.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Labor Department says wholesale prices jumped 1.8 percent in November, more than double the 0.8 percent gain analysts expected. Core inflation, which excludes energy and food, rose 0.5 percent, the biggest increase in more than a year.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-17946544013585066252009-12-15T07:13:00.000-08:002009-12-15T07:14:25.303-08:00Stocks drop after inflation data<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Stocks open lower as wholesale inflation and dollar rise, Fed meets to discuss interest rates<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Tim Paradis and Ieva M. Augstums, AP Business Writers</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 9:56 am EST, Tuesday December 15, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">0</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Stocks-drop-after-inflation-apf-2682030532.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="mod related-companies" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><h3 style="margin-top: 0px; margin-right: 0.3em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; display: inline; color: rgb(102, 102, 102); "><span class="Apple-style-span" style="font-size: medium;">Companies:</span></h3><span class="Apple-style-span" style="font-size: medium;"> </span><ul class="symbols" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: inline; "><li class="first" style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: initial; border-left-style: none; border-left-color: initial; "><a href="http://finance.yahoo.com/q/h;_ylt=AurTTrODyv.ZnyHJ1wyC37Xeba9_;_ylu=X3oDMTFjNTkzNWFxBHBvcwMxBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDY2l0aWdyb3VwaW5j?s=c" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Citigroup, Inc.</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=ApE0ldh4Dx7f3ao2dGvVFgfeba9_;_ylu=X3oDMTFjMmU4cHFsBHBvcwMyBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDd2VsbHNmYXJnb2Nv?s=wfc" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Wells Fargo Company</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=AlHNpl8LCk4zb.fVejslhqXeba9_;_ylu=X3oDMTFjNHRsMjBvBHBvcwMzBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDZXh4b25tb2JpbGNv?s=xom" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Exxon Mobil Corp.</span></a></li></ul></li></ul></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- Stocks fell in early trading Tuesday after wholesale inflation rose more than expected in November, led by surge in energy costs.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 203px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmU02vFVGb2jhJqtailXmqzeba9_;_ylu=X3oDMTB1cTU0NmhrBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDYw--?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">C</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_c" style="line-height: 1.22em; ">3.65</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_c" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.05</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AguVgicN44jO7vGCOV7FhXLeba9_;_ylu=X3oDMTE5aHFhdTk2BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JjaXRp?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/C/chart;range=1d/image;size=179x98" alt="Chart for CITIGROUP INC" title="Chart for CITIGROUP INC" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Am0aTU5a8NdoJg7Lu2M2YMHeba9_;_ylu=X3oDMTEwYXQzaXVhBHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDd2Zj?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">WFC</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_wfc" style="line-height: 1.22em; ">25.85</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_wfc" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.36</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Am9IP8viSIIUKqFBrzxxdw_eba9_;_ylu=X3oDMTE5aHFicmpvBHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3J3ZWxs?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/WFC/chart;range=1d/image;size=179x98" alt="Chart for WELLS FARGO & CO NEW" title="Chart for WELLS FARGO & CO NEW" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="2" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AlUmGLttOo_B67GauLx7_Hbeba9_;_ylu=X3oDMTEwZ3R1dDU3BHBvcwM1BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDeG9t?s=XOM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">XOM</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_xom" style="line-height: 1.22em; ">69.88</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_xom" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.19</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Att9HFLSXQXPeVf8K1X1ouneba9_;_ylu=X3oDMTE5YW1wOG80BHBvcwM2BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JleHhv?s=XOM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/XOM/chart;range=1d/image;size=179x98" alt="Chart for EXXON MOBIL CP" title="Chart for EXXON MOBIL CP" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The increase likely will be discussed as Federal Reserve policymakers begin a two-day meeting on interest rates. The Fed is expected to keep rates unchanged when it releases a policy statement following the meeting Wednesday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Labor Department said wholesale prices jumped 1.8 percent last month, more than double the 0.8 percent gain analysts expected. Core inflation, which excludes energy and food, rose 0.5 percent, the biggest increase in more than a year.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A number of investors see a rate hike coming within the next year as the Fed takes a pre-emptive strike to keep inflation at bay. That would help shore up the value of the dollar, but also could trip up a rally that has pushed stocks sharply higher over the past nine months.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Investors also turned cautious after electronics retailer Best Buy said its third-quarter earnings more than quadrupled but warned that that its fourth-quarter profit margins will face pressure as shoppers look for less expensive items.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stocks fell overseas as the dollar rose against the euro amid continuing worries about Greece's debts and the financial health of Austria's banks.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In the first half-hour of trading, the Dow Jones industrial average fell 37.86, or 0.4 percent, to 10,463.19. The broader Standard & Poor's 500 index fell 4.77, or 0.4 percent, to 1,109.34, and the Nasdaq composite index fell 10.01, or 0.5 percent, to 2,202.09.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-77086106699402109202009-12-15T07:11:00.000-08:002009-12-15T07:12:10.973-08:00Citigroup, Wells Fargo repay gov't bailout funds<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Citigroup and Wells Fargo to exit government's financial bailout program, repay combined $45B<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Stephen Bernard, AP Business Writer</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 12:03 am EST, Tuesday December 15, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">19</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Citigroup-Wells-Fargo-repay-apf-2384775142.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- The last two major national banks are returning $45 billion in aid to taxpayers, marking the latest step toward recovery for the U.S. financial system.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/20/33/10.jpg?x=154&y=232&q=85&sig=DvxKCjUIvpDYif7REzQ.OA--" alt="AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ..." width="154" height="232" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ...</span></span></p></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup Inc., whose future looked uncertain at the beginning of this year, will repay $20 billion, while Wells Fargo & Co. will pay back the $25 billion it received. Both banks announced significant capital raises in order to repay the money, and the government will also sell the one-third stake it holds in Citigroup.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The move frees the two from the close regulatory scrutiny that accompanied aid from the Troubled Asset Relief Program, which the government put in place at the height of the financial crisis in the fall of 2008. The Treasury Department said that of the $245 billion given to banks under TARP, more than $185 billion will have been repaid including the money from Citigroup and Wells Fargo.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Most other national banks have already exited the program, releasing them from strict compensation limits that banks had said were impeding their ability to attract and retain talent. Just last week Bank of America Corp. said it would repay the $45 billion it owed, as it struggles to find a new CEO to replace Ken Lewis, who is retiring at the end of the year.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">New York-based Citigroup is far larger than Wells Fargo, which is based in San Francisco, and the government took a bigger role in its oversight. Citigroup had accepted a total of $45 billion in rescue funds -- among the largest bailout packages received by any bank -- but the government converted $25 billion of that amount into the 34 percent equity stake, which it is now selling.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Allowing the banks to repay the funds and exit TARP signals a vote of confidence from the government in the ability of both banks to stand on their own. It's a far cry from the situation at the beginning of the year, when some analysts were saying Citi could fail and be taken completely over by the government.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"It gets rid of the stigma" for Citi, FBR Capital Markets analyst Paul Miller said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi will sell $20.5 billion in stock and debt to repay the bailout funds. The capital raise will dilute current shareholders by between 20 percent and 25 percent depending on the sale price of the stock and debt, Miller projected.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The bank's shares fell 6.3 percent Monday as investors reacted to the news that existing Citigroup shareholders' stakes would be diluted by the capital raise.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Wells Fargo plans to sell $10.4 billion in new stock, and targets $1.5 billion in asset sales by the end of next year to boost capital. Its announcement came after the close of stock trading, although its shares rose 2 percent in after-hours trading.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A Wells Fargo spokeswoman said the company wasn't making the announcement out of pressure following Citigroup's move.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"We've said for quite some time that we wanted to repay at the appropriate time," she said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The company said it has paid $1.4 billion in dividends to the government under the terms of its agreement. Handing back the money will save the bank from paying $1.25 billion a year in preferred stock dividends.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The pledges to repay the government came on the day top bankers met with President Barack Obama at the White House. He asked them to consider "every responsible way" to boost lending, particularly to small businesses, and to get behind an overhaul of financial regulation.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup was among the hardest hit by the credit crisis and rising loan defaults. Now that it's repaid its government loans, Citi will turn its attention to shedding the rest of its troubled mortgage portfolio and other risky assets, which it had separated from its traditional banking business in January.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">At the same time, the bank is trying to build up those core businesses such as securities underwriting and institutional banking, where it faces heavy competition from JPMorgan Chase & Co. and other banks that suffered less during the financial crisis. The bank also wants to build up its consumer banking business, which trails competitors like Bank of America in size.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">AP Business Writer Ieva M. Augstums in Charlotte, N.C. and AP Economics Writer Martin Crutsinger in Washington contributed to this report.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-44715513526390016072009-12-14T07:50:00.000-08:002009-12-14T07:54:54.608-08:00Citigroup to repay $20 billion in bailout money<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">Citigroup reaches deal to repay $20 billion in bailout money; Government to sell stake<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Stephen Bernard, AP Business Writer</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 10:13 am EST, Monday December 14, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">1</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Citigroup-to-repay-20-billion-apf-2878032668.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="mod related-companies" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><h3 style="margin-top: 0px; margin-right: 0.3em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; display: inline; color: rgb(102, 102, 102); "><span class="Apple-style-span" style="font-size: medium;">Companies:</span></h3><span class="Apple-style-span" style="font-size: medium;"> </span><ul class="symbols" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: inline; "><li class="first" style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: initial; border-left-style: none; border-left-color: initial; "><a href="http://finance.yahoo.com/q/h;_ylt=AurTTrODyv.ZnyHJ1wyC37Xeba9_;_ylu=X3oDMTFjNTkzNWFxBHBvcwMxBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDY2l0aWdyb3VwaW5j?s=c" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Citigroup, Inc.</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=AqlmzqxbVZt7Bf0PceGSouHeba9_;_ylu=X3oDMTFjZTduNjNwBHBvcwMyBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDYmFua29mYW1lcmlj?s=dmh" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Bank Of America Corp</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=AuPCtGslZINoLQw.B8XZDKPeba9_;_ylu=X3oDMTFjOWN2NGtwBHBvcwMzBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDZ29sZG1hbnNhY2hz?s=gs" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Goldman Sachs Group Inc.</span></a></li></ul></li></ul></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- Citigroup Inc. said Monday it is repaying $20 billion in bailout money it received from the Treasury Department, freeing the banking giant from the close scrutiny and pay restrictions that came with the rescue program. The government will also sell its stake in the company.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/20/33/10.jpg?x=154&y=232&q=85&sig=DvxKCjUIvpDYif7REzQ.OA--" alt="AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ..." width="154" height="232" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ...</span></span></p></div><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; height: auto; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 249px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmU02vFVGb2jhJqtailXmqzeba9_;_ylu=X3oDMTB1cTU0NmhrBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDYw--?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">C</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_c" style="line-height: 1.22em; ">3.79</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_c" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.16</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AguVgicN44jO7vGCOV7FhXLeba9_;_ylu=X3oDMTE5aHFhdTk2BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JjaXRp?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/C/chart;range=1d/image;size=179x98" alt="Chart for CITIGROUP INC" title="Chart for CITIGROUP INC" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmNVGZnRhTbcDQjZQCDydf7eba9_;_ylu=X3oDMTEwZHBoNWc1BHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZG1o?s=DMH" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">DMH</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_dmh" style="line-height: 1.22em; ">7.95</span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_dmh" style="line-height: 1.22em; ">0.00</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=ApIRomKoOv4r2tJYHmmENe_eba9_;_ylu=X3oDMTE5ZGtobGtxBHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JiYW5r?s=DMH" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/DMH/chart;range=1d/image;size=179x98" alt="Chart for BANK OF AMERICA CORP" title="Chart for BANK OF AMERICA CORP" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="2" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Av66w1iqW3Ki6A.o0Kbi2jPeba9_;_ylu=X3oDMTB2a3BidXFmBHBvcwM1BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZ3M-?s=GS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">GS</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_gs" style="line-height: 1.22em; ">164.25</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_gs" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-1.75</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 0px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AjmlgUz_XjBEF63u.Hj1shbeba9_;_ylu=X3oDMTE5czQybjgyBHBvcwM2BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jnb2xk?s=GS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/GS/chart;range=1d/image;size=179x98" alt="Chart for GOLDMAN SACHS GRP" title="Chart for GOLDMAN SACHS GRP" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="3" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Aux.AyEO6DDFPktwTUovAAfeba9_;_ylu=X3oDMTEwcWM2bWpuBHBvcwM3BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDanBt?s=JPM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">JPM</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_jpm" style="line-height: 1.22em; ">41.05</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_jpm" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.09</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AlepTkSrhN24ImJ2rRg40eDeba9_;_ylu=X3oDMTE5NnVubjkzBHBvcwM4BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JqcG1v?s=JPM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/JPM/chart;range=1d/image;size=179x98" alt="Chart for JP MORGAN CHASE CO" title="Chart for JP MORGAN CHASE CO" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="4" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AlG5gHSgW34Q0VZnqyk6XAbeba9_;_ylu=X3oDMTEwcXVkODRlBHBvcwM5BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDd2Zj?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">WFC</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_wfc" style="line-height: 1.22em; ">25.23</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_wfc" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.18</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AhoVJ0qaQIQxWeU39gxBy3Deba9_;_ylu=X3oDMTFhNWprN3ZnBHBvcwMxMARzZWMDcmVsYXRlZC1xdW90ZXMEc2xrA2NoYXJ0Zm9yd2VsbA--?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/WFC/chart;range=1d/image;size=179x98" alt="Chart for WELLS FARGO & CO NEW" title="Chart for WELLS FARGO & CO NEW" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The New York-based bank was among the hardest hit by the credit crisis and rising loan defaults and got one of the largest bailouts of any banks during the financial crisis. The government gave it $45 billion in loans and agreed to protect losses on nearly $300 billion in risky investments. Wells Fargo & Co. remains the last national bank that has yet to pay back its bailout money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi is selling $20.5 billion in stock and debt to repay the government. It only has to pay back $20 billion because the remaining $25 billion was converted into a 34 percent ownership stake in the bank earlier this year. The government plans to sell that entire stake -- which has risen in value by more than 20 percent -- during the next year. The loss-sharing agreement will also end as part of the plan.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Treasury Department is in line to earn about $13 billion in profit on its support for Citigroup depending on how much it makes selling the stock, said a Treasury official, who spoke on condition of anonymity in advance of President Barack Obama's meeting with bank officials.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">After repaying the funds, Citi will no longer be subject to pay restrictions and other conditions of the bailout program. However, the repayment comes at a heavy cost. Raising the new capital will significantly dilute current shareholders' stake in the company.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi's shares fell 25 cents, or 6.3 percent, to $3.70 in morning trading Monday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">By approving the repayment, the government is essentially saying Citi is on strong enough financial footing to stand on its own. It's a far cry from concerns at the beginning of the year when some analysts were saying Citi could fail completely and be taken over by the government.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">While the government believes in the strength of Citi, the bank is still facing losses and trying to streamline operations to maintain profitability that has been tenuous throughout the year, even as other big banks recovered.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The repayment by Citi comes as top executives from some of the nation's biggest banks meet Monday with Obama. The president is asking the executives to back his efforts to tighten financial regulations, designed to rein in the risky behavior that led to the credit crisis. Obama could face difficulty though, after describing bankers as "fat cats" in a "60 Minutes" interview broadcast Sunday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup received the bailout as part of the Troubled Asset Relief Program. The program was launched late last year to help ailing banks manage through the peak of the credit crisis.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Nearly 700 banks of all sizes participated in the program. Most of the largest banks, like JPMorgan Chase & Co. and Goldman Sachs Group Inc., quickly paid back the money they received because it carried restrictions such as caps on executive pay and dividends.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Many banks have bristled at strict government oversight.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi's announcement comes just days after Bank of America Corp. completed the repayment of $45 billion it received as part of TARP.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">San Francisco-based Wells Fargo is now the last large national bank that hasn't paid back the government. It received $25 billion. Like Citi, Wells Fargo was one of the initial eight banks to participate in TARP.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">TARP recipients have so far paid back $116 billion. That's out of a total of $453 billion that the government extended to banks, insurers, automakers and other companies under the program.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">While the TARP repayment reduces the tight scrutiny of regulators, it also now leaves the bank more exposed to potential losses. The end of the loss-sharing agreement on about $300 billion of risky investments could hinder Citigroup's continuing efforts to maintain profitability.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Treasury official said Citigroup never had to tap the loss-sharing agreement, and the government has taken no losses on the Citi investment.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup has been among the hardest hit banks by the credit crisis and continues to see consumer loan defaults pile up. Loan losses cost the bank $8 billion during the third quarter.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">It is widely expected consumers will continue to miss payments at rapid rates in 2010 because the job market remains weak and wages are not going up. Loan defaults are likely to remain high industrywide.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup reported a $101 million profit during the third quarter before accounting for $288 million in preferred stock dividends and the debt exchange offer that gave the government its stake in the bank. Including those costs, Citi lost $3.24 billion during the quarter ended Sept. 30.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Paying back TARP money will cut dividend costs by about $1.7 billion annually, the bank said. Citi will take an $8 billion pretax loss to pay back the bailout money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi is issuing $20.5 billion in capital and debt to help repay its obligations, including the $17 billion of common stock. Investors will have the option to buy an extra $2.55 billion in stock to cover any over-allotments.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The bank also said it will award $1.7 billion in stock equivalents to employees instead of cash they would have ordinarily received as part of their compensation. Under the TARP restrictions cash payments for executives were restricted. Citi had said in recent months it was revising the mix of cash and stock in its compensation packages to meet the requirements. Those restrictions would be lifted after repaying TARP money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The government is selling the first $5 billion of common stock it holds in the bank at the same time the bank sells the $17 billion in stock. The remainder of the government's stake will be sold "in an orderly fashion" over the next six to 12 months, Citi said in a statement.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The government stands to earn about $5.7 billion in profit by selling its portion of Citi shares, based on Friday's closing price of $3.95.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi had 22.86 billion shares outstanding as of Sept. 30. Based on Friday's closing price, Citi would need to sell about 4.3 billion shares to raise $17 billion. That would dilute current shareholders stake in the company by about 19 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">AP Economics Writer Martin Crutsinger in Washington contributed to this report.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-52390122488290347102009-12-14T07:44:00.000-08:002009-12-14T07:48:57.400-08:00Citigroup to repay $20 billion in bailout money<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); font-size: 11px; "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Stephen Bernard, AP Business Writer</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 10:13 am EST, Monday December 14, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">1</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Citigroup-to-repay-20-billion-apf-2878032668.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="mod related-companies" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><h3 style="margin-top: 0px; margin-right: 0.3em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; display: inline; color: rgb(102, 102, 102); "><span class="Apple-style-span" style="font-size: medium;">Companies:</span></h3><span class="Apple-style-span" style="font-size: medium;"> </span><ul class="symbols" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; list-style-type: none; display: inline; "><li class="first" style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: initial; border-left-style: none; border-left-color: initial; "><a href="http://finance.yahoo.com/q/h;_ylt=AurTTrODyv.ZnyHJ1wyC37Xeba9_;_ylu=X3oDMTFjNTkzNWFxBHBvcwMxBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDY2l0aWdyb3VwaW5j?s=c" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Citigroup, Inc.</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=AqlmzqxbVZt7Bf0PceGSouHeba9_;_ylu=X3oDMTFjZTduNjNwBHBvcwMyBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDYmFua29mYW1lcmlj?s=dmh" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Bank Of America Corp</span></a></li><li style="margin-top: 0px; margin-right: 1em; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 1em; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; border-left-width: 1px; border-left-style: solid; border-left-color: black; "><a href="http://finance.yahoo.com/q/h;_ylt=AuPCtGslZINoLQw.B8XZDKPeba9_;_ylu=X3oDMTFjOWN2NGtwBHBvcwMzBHNlYwNyZWxhdGVkLWNvbXBhbmllcwRzbGsDZ29sZG1hbnNhY2hz?s=gs" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><span class="Apple-style-span" style="font-size: medium;">Goldman Sachs Group Inc.</span></a></li></ul></li></ul></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- Citigroup Inc. said Monday it is repaying $20 billion in bailout money it received from the Treasury Department, freeing the banking giant from the close scrutiny and pay restrictions that came with the rescue program. The government will also sell its stake in the company.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/20/33/10.jpg?x=154&y=232&q=85&sig=DvxKCjUIvpDYif7REzQ.OA--" alt="AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ..." width="154" height="232" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this Jan. 16, 2009 file photo, Citigroup headquarters is seen in New York. Citigroup Inc. ...</span></span></p></div><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 249px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmU02vFVGb2jhJqtailXmqzeba9_;_ylu=X3oDMTB1cTU0NmhrBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDYw--?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">C</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_c" style="line-height: 1.22em; ">3.78</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_c" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.17</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AguVgicN44jO7vGCOV7FhXLeba9_;_ylu=X3oDMTE5aHFhdTk2BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JjaXRp?s=C" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/C/chart;range=1d/image;size=179x98" alt="Chart for CITIGROUP INC" title="Chart for CITIGROUP INC" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AmNVGZnRhTbcDQjZQCDydf7eba9_;_ylu=X3oDMTEwZHBoNWc1BHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZG1o?s=DMH" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">DMH</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_dmh" style="line-height: 1.22em; ">7.95</span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_dmh" style="line-height: 1.22em; ">0.00</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=ApIRomKoOv4r2tJYHmmENe_eba9_;_ylu=X3oDMTE5ZGtobGtxBHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JiYW5r?s=DMH" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/DMH/chart;range=1d/image;size=179x98" alt="Chart for BANK OF AMERICA CORP" title="Chart for BANK OF AMERICA CORP" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="2" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Av66w1iqW3Ki6A.o0Kbi2jPeba9_;_ylu=X3oDMTB2a3BidXFmBHBvcwM1BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZ3M-?s=GS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">GS</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_gs" style="line-height: 1.22em; ">164.41</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_gs" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-1.59</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AjmlgUz_XjBEF63u.Hj1shbeba9_;_ylu=X3oDMTE5czQybjgyBHBvcwM2BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jnb2xk?s=GS" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/GS/chart;range=1d/image;size=179x98" alt="Chart for GOLDMAN SACHS GRP" title="Chart for GOLDMAN SACHS GRP" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="3" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Aux.AyEO6DDFPktwTUovAAfeba9_;_ylu=X3oDMTEwcWM2bWpuBHBvcwM3BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDanBt?s=JPM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">JPM</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_jpm" style="line-height: 1.22em; ">40.98</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_jpm" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.02</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AlepTkSrhN24ImJ2rRg40eDeba9_;_ylu=X3oDMTE5NnVubjkzBHBvcwM4BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3JqcG1v?s=JPM" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/JPM/chart;range=1d/image;size=179x98" alt="Chart for JP MORGAN CHASE CO" title="Chart for JP MORGAN CHASE CO" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr><tr tabindex="4" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AlG5gHSgW34Q0VZnqyk6XAbeba9_;_ylu=X3oDMTEwcXVkODRlBHBvcwM5BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDd2Zj?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">WFC</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_wfc" style="line-height: 1.22em; ">25.21</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_wfc" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.20</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AhoVJ0qaQIQxWeU39gxBy3Deba9_;_ylu=X3oDMTFhNWprN3ZnBHBvcwMxMARzZWMDcmVsYXRlZC1xdW90ZXMEc2xrA2NoYXJ0Zm9yd2VsbA--?s=WFC" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/WFC/chart;range=1d/image;size=179x98" alt="Chart for WELLS FARGO & CO NEW" title="Chart for WELLS FARGO & CO NEW" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The New York-based bank was among the hardest hit by the credit crisis and rising loan defaults and got one of the largest bailouts of any banks during the financial crisis. The government gave it $45 billion in loans and agreed to protect losses on nearly $300 billion in risky investments. Wells Fargo & Co. remains the last national bank that has yet to pay back its bailout money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi is selling $20.5 billion in stock and debt to repay the government. It only has to pay back $20 billion because the remaining $25 billion was converted into a 34 percent ownership stake in the bank earlier this year. The government plans to sell that entire stake -- which has risen in value by more than 20 percent -- during the next year. The loss-sharing agreement will also end as part of the plan.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Treasury Department is in line to earn about $13 billion in profit on its support for Citigroup depending on how much it makes selling the stock, said a Treasury official, who spoke on condition of anonymity in advance of President Barack Obama's meeting with bank officials.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">After repaying the funds, Citi will no longer be subject to pay restrictions and other conditions of the bailout program. However, the repayment comes at a heavy cost. Raising the new capital will significantly dilute current shareholders' stake in the company.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi's shares fell 25 cents, or 6.3 percent, to $3.70 in morning trading Monday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">By approving the repayment, the government is essentially saying Citi is on strong enough financial footing to stand on its own. It's a far cry from concerns at the beginning of the year when some analysts were saying Citi could fail completely and be taken over by the government.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">While the government believes in the strength of Citi, the bank is still facing losses and trying to streamline operations to maintain profitability that has been tenuous throughout the year, even as other big banks recovered.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The repayment by Citi comes as top executives from some of the nation's biggest banks meet Monday with Obama. The president is asking the executives to back his efforts to tighten financial regulations, designed to rein in the risky behavior that led to the credit crisis. Obama could face difficulty though, after describing bankers as "fat cats" in a "60 Minutes" interview broadcast Sunday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup received the bailout as part of the Troubled Asset Relief Program. The program was launched late last year to help ailing banks manage through the peak of the credit crisis.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Nearly 700 banks of all sizes participated in the program. Most of the largest banks, like JPMorgan Chase & Co. and Goldman Sachs Group Inc., quickly paid back the money they received because it carried restrictions such as caps on executive pay and dividends.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Many banks have bristled at strict government oversight.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi's announcement comes just days after Bank of America Corp. completed the repayment of $45 billion it received as part of TARP.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">San Francisco-based Wells Fargo is now the last large national bank that hasn't paid back the government. It received $25 billion. Like Citi, Wells Fargo was one of the initial eight banks to participate in TARP.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">TARP recipients have so far paid back $116 billion. That's out of a total of $453 billion that the government extended to banks, insurers, automakers and other companies under the program.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">While the TARP repayment reduces the tight scrutiny of regulators, it also now leaves the bank more exposed to potential losses. The end of the loss-sharing agreement on about $300 billion of risky investments could hinder Citigroup's continuing efforts to maintain profitability.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Treasury official said Citigroup never had to tap the loss-sharing agreement, and the government has taken no losses on the Citi investment.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup has been among the hardest hit banks by the credit crisis and continues to see consumer loan defaults pile up. Loan losses cost the bank $8 billion during the third quarter.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">It is widely expected consumers will continue to miss payments at rapid rates in 2010 because the job market remains weak and wages are not going up. Loan defaults are likely to remain high industrywide.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citigroup reported a $101 million profit during the third quarter before accounting for $288 million in preferred stock dividends and the debt exchange offer that gave the government its stake in the bank. Including those costs, Citi lost $3.24 billion during the quarter ended Sept. 30.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Paying back TARP money will cut dividend costs by about $1.7 billion annually, the bank said. Citi will take an $8 billion pretax loss to pay back the bailout money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi is issuing $20.5 billion in capital and debt to help repay its obligations, including the $17 billion of common stock. Investors will have the option to buy an extra $2.55 billion in stock to cover any over-allotments.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The bank also said it will award $1.7 billion in stock equivalents to employees instead of cash they would have ordinarily received as part of their compensation. Under the TARP restrictions cash payments for executives were restricted. Citi had said in recent months it was revising the mix of cash and stock in its compensation packages to meet the requirements. Those restrictions would be lifted after repaying TARP money.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The government is selling the first $5 billion of common stock it holds in the bank at the same time the bank sells the $17 billion in stock. The remainder of the government's stake will be sold "in an orderly fashion" over the next six to 12 months, Citi said in a statement.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The government stands to earn about $5.7 billion in profit by selling its portion of Citi shares, based on Friday's closing price of $3.95.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Citi had 22.86 billion shares outstanding as of Sept. 30. Based on Friday's closing price, Citi would need to sell about 4.3 billion shares to raise $17 billion. That would dilute current shareholders stake in the company by about 19 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">AP Economics Writer Martin Crutsinger in Washington contributed to this report.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-76080284599266252542009-12-10T18:45:00.001-08:002009-12-10T18:45:59.097-08:00Stocks rise as trade deficit narrows in October<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">tocks climb as rise in exports offsets worries about increase in weekly unemployment claims<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Tim Paradis, AP Business Writer</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 5:48 pm EST, Thursday December 10, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">4</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Stocks-rise-as-trade-deficit-apf-2110216808.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">NEW YORK (AP) -- A jump in exports lifted stocks Thursday, offsetting concerns about an increase in unemployment claims.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/26/33/83.jpg?x=200&y=136&q=85&sig=yPyHKBL1CtgT7reQonECPw--" alt="AP - David O'Day, center, and fellow traders gather at the post on the floor of the New York Stock ..." width="200" height="136" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - David O'Day, center, and fellow traders gather at the post on the floor of the New York Stock ...</span></span></p></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The market came away with moderate gains for the day after the Commerce Department said rising exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A weaker dollar is raising demand for U.S. goods by making them less expensive for overseas buyers. That trend helped to lift U.S. exports by 2.5 percent, the sixth straight monthly increase.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">James Cox, managing partner at Harris Financial Group in Colonial Heights, Va., said stepped up demand for U.S. goods will boost the nation's economy.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"Any time you have a small trade balance, that will really contribute greatly to GDP," Cox said, referring to gross domestic product.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The trade figures helped offset mixed jobs numbers. The Labor Department said the number of laid-off workers seeking jobless benefits rose more than expected last week to 474,000 after falling for five straight weeks. That was higher than analysts were expecting but a less-volatile four-week average fell to the lowest level since September 2008.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The gains in stocks came as the dollar stabilized. For months, stocks and the dollar have moved in the opposite direction. Record-low U.S. interest rates have made the dollar less attractive to investors who are more confident in an economic recovery and seeking assets like stocks and commodities that can offer better returns than cash.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In recent weeks, signs of improvement in the economy have brought expectations that the Federal Reserve might raise interest rates sooner than expected. That would strengthen the dollar and could shake up the stock market as investors rejigger their portfolios.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Anthony Chan, chief economist at JPMorgan Private Wealth Management in New York, said the increase in weekly unemployment claims eroded some of the enthusiasm over rising exports.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"That is what's preventing the market from really galloping higher," Chan said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Dow Jones industrial average rose 66.78, or 0.7 percent, to 10,405.83, pushing it back into the winning column for the month. The Dow is up 120 points in two days after falling 104 on Tuesday on worries about rising debt loads in a number of countries.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Standard & Poor's 500 index rose 6.40, or 0.6 percent, to 1,102.35, while the Nasdaq composite index rose 7.13, or 0.3 percent, to 2,190.86.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Chan said investors are not only eager to guard their gains as the end of the year approaches but are also harder to impress following the government's report last week that employers cut fewer jobs in November than at any time since the recession began two years ago.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"It raises the hurdle to get the market excited," he said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The S&P 500 index is up 22 percent for the year after a nine-month rally but hasn't gained much ground in the past month.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In other trading, Treasury prices fell for a second day after an auction of 30-year bonds drew weak demand. The slump in prices for long-dated bonds pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.50 percent from 3.44 percent late Wednesday, while the yield on the 30-year bond rose to 4.51 percent from 4.42 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Gold rose after a four-day slide, while oil fell for a seventh day, losing 13 cents to settle at $70.54 a barrel at the New York Mercantile Exchange.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 3.9 billion, compared with 4.2 billion Wednesday.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The Russell 2000 index of smaller companies fell 2.65, or 0.4 percent, to 595.38.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Britain's FTSE 100 rose 0.8 percent, while Germany's DAX index and France's CAC-40 each rose 1.1 percent. Japan's Nikkei stock average fell 1.4 percent.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-9232833371711278092009-12-10T18:41:00.000-08:002009-12-10T18:43:02.136-08:00Americans' net worth up for 2nd straight quarter<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">WASHINGTON (AP) -- Inch by inch, Americans are recovering some of their vast loss of wealth from the recession, thanks to gains in stock investments and home values.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/26/17/49.jpg?x=200&y=129&q=85&sig=0k4fdZGeHVmatzXSWmHfgw--" alt="AP - FILE - In this Friday, Nov. 27, 2009 file photo, shoppers look at TomTom GPS devices at a ..." width="200" height="129" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this Friday, Nov. 27, 2009 file photo, shoppers look at TomTom GPS devices at a ...</span></span></p></div><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 157px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AsU1YJHv7vp7fr57O3Bhqqfeba9_;_ylu=X3oDMTB1MjlxNjRtBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZg--?s=F" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">F</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_f" style="line-height: 1.22em; ">9.05</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_f" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.19</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Ao6WoDJIybhj8m41_oGZBpLeba9_;_ylu=X3oDMTE5cDBtOW85BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jmb3Jk?s=F" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/F/chart;range=1d/image;size=179x98" alt="Chart for FORD MOTOR CO" title="Chart for FORD MOTOR CO" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">It's likely to be a long trek.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Net worth -- the value of assets such as homes, bank accounts and investments, minus debts like mortgages and credit cards -- rose 5 percent last quarter, to $53.4 trillion, the Federal Reserve said Thursday. That was the second straight quarterly increase.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Yet even with those gains, Americans' net worth remains far below its revised peak of $64.5 trillion reached before the recession began. That underscores the vast loss of wealth over the past two years. Net worth would need to rise an additional 21 percent just to return to its pre-recession height.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">And many analysts don't expect a repeat of the strong second- and third-quarter gains any time soon. That's why Scott Hoyt, senior director of consumer economics at Moody's Economy.com, thinks household wealth won't match its pre-recession peak until about 2012.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"We're clearly moving in the right direction, although we have questions about whether we can get there as quickly as we have in the past couple of quarters," Hoyt said.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Stock investments delivered the biggest boost to net worth in the July-September period. The value of stocks jumped $1.04 trillion, or about 17 percent -- slightly less than the previous quarter's rise.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">That increase mirrored the stock market's powerful showing. The Standard & Poor's 500 index, a barometer of the market, rose 15 percent in the third quarter. And it's surged about 60 percent since March.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Still, even with an additional 4 percent gain so far in the fourth quarter, the S&P index is still 32 percent off the peak of October 2007. The recession began in December 2007.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Net worth hit bottom at $48.5 trillion in the first quarter of 2009. That followed three huge quarterly declines: 5 percent in the third quarter of 2008, 10 percent in the fourth quarter and 6 percent in the first quarter of this year.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">In coming months, the gains in net worth are expected to slow, along with the broader economic recovery. Credit remains tight. And consumers still aren't spending freely.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Some analysts fear the Fed's policy of cheap lending and the weak dollar are inflating stock market performance and encouraging too much speculation. They say the gains of recent quarters aren't sustainable.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"We will eventually recover the loss in net worth, but it may take three to five years," said Mark Vitner, senior economist for Wells Fargo Securities in Charlotte, N.C.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Real estate was a smaller part of the increase in third-quarter net worth. The value of American households' real estate holdings rose 2 percent, or $348 billion. But analysts expect prices to dip again this winter as foreclosures spread and economic growth remains modest.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Barclays Capital economist Michelle Meyer forecasts an 8 percent drop in prices before they hit bottom next spring. Other analysts expect a drop of 5 to 10 percent.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Americans also are paying off debt at record levels, the Fed said. They reduced mortgages, credit cards and other loans by 2.6 percent in the third quarter and have been cutting household debt levels for a year. That's a healthy sign for personal finances, but a cautionary one for economic growth: Consumers are paring their debt with money they might otherwise be spending.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Economists say they doubt the higher net worth will lead many consumers to spend more, thereby invigorating the economic recovery.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The psychological effects of the big declines are so fresh that people are still scared -- they don't have faith in the wealth," Hoyt said. "And much of the gains are from stock increases. How many consumers are confident enough that those gains are real and not going to evaporate next week that they're going to go out and spend more?"</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Even though stocks remain far below their pre-recession levels, employees who have stayed invested in 401(k) plans and continued to contribute have fared better: Major 401(k) providers say nearly 60 percent of such participants now have more money in their accounts than before the market decline.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">A higher net worth has made Michael Robinson a lot more hopeful than when the recession began -- enough to start spending a bit more freely and to plow some of his pay back into the stock market. His investment accounts grew about 10 percent in the second and third quarters.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"I feel more optimistic," said Robinson, 64, a professor of business and economics at Saint Mary's College in Notre Dame, Ind., who hopes to retire in about two years. "I was really worried if I was going to retire when the market was down 50 percent."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Alan Hull of Canton, Mich., doesn't feel any richer. His 401(k) account has recovered some. But his other investments have a long way to go.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"To say that we are wealthier -- that's kind of a misnomer," said Hull, 56, who works in information technology for Ford Motor Co. "But I'm starting to see the light at the end of the tunnel, and I don't feel like it's an oncoming train."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Carpenter reported from Chicago. AP Business Writers Alan Zibel in Washington and Christopher Leonard in St. Louis contributed to this report.</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-47953621683992969942009-12-10T18:38:00.000-08:002009-12-10T18:39:53.403-08:00Exports up for 6th straight month, boost recovery<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><div id="y-article-hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.75em; margin-left: 0px; padding-top: 0.8em; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><h2 style="margin-top: -5px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; font-family: arial, sans-serif; "><span class="Apple-style-span" style="font-size: medium;">xport gains lower October trade deficit, good news for recovery; jobless claims up slightly<br /></span></h2><ul class="attribution" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); "><li class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">By Christopher S. Rugaber and Martin Crutsinger, AP Economics Writers</span></li><li class="datetime" style="margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; "><span class="Apple-style-span" style="font-size: medium;">On 12:12 pm EST, Thursday December 10, 2009</span></li></ul><div class="toolbar yfi_share_article_container clear" style="margin-top: -2em; margin-right: auto; margin-bottom: auto; margin-left: auto; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; background-image: none; background-repeat: initial; background-attachment: initial; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: initial; text-align: center; border-width: initial; border-color: initial; float: right; border-width: initial; border-color: initial; background-position: initial initial; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; display: inline; "><li class="yfi_share_buzz" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; "><form method="post" action="http://buzz.yahoo.com/vote/" class="buzz" id="media-buzz-top" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; line-height: 1.22em; float: left; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; height: 22px; background-position: 0% 0%; "><button type="submit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 3px; padding-bottom: 2px; padding-left: 2px; font-family: inherit; font-style: inherit; font-weight: inherit; font: normal normal normal 99%/normal arial, helvetica, clean, sans-serif; line-height: 1.22em; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/buzz_button_bg200.png); background-repeat: no-repeat; background-color: transparent; color: rgb(4, 77, 137); background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; cursor: pointer; height: 22px; white-space: nowrap; text-indent: 0px; width: auto; background-position: 100% 0%; ">Buzz up! <span class="buzz-count" style="line-height: 1.22em; border-left-width: 1px; border-left-style: solid; border-left-color: rgb(200, 216, 222); padding-left: 5px; padding-bottom: 3px; padding-top: 3px; padding-right: 0px; ">9</span></button></form></li><li class="yfi_print" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 28px; list-style-type: none; list-style-position: initial; list-style-image: initial; line-height: 1.22em; display: inline; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; float: left; background-position: 0% 0%; "><a href="http://finance.yahoo.com/news/Exports-up-for-6th-straight-apf-2526943026.html/print;_ylt=As3KgvbfXepkMGhcw5uXjDPeba9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0" style="line-height: 1.22em; padding-left: 4px; padding-bottom: 8px; background-image: url(http://l.yimg.com/cz/lib/fi/us/p/d/static/images/3.0.144/2.0.0/print_btn_bg200.png); background-repeat: no-repeat; background-attachment: scroll; -webkit-background-clip: initial; -webkit-background-origin: initial; background-color: transparent; padding-top: 4px; padding-right: 10px; display: block; color: rgb(26, 84, 136); text-decoration: none; background-position: 100% 0%; "><span class="Apple-style-span" style="font-size: medium;">Print</span></a></li></ul></ul></div></div><div id="y-article-bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">WASHINGTON (AP) -- The economic recovery is likely to draw strength from exports such as farm products, autos, aircraft and industrial machinery -- all of which helped lower the nation's trade deficit in October.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div class="mod related-media" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; color: rgb(128, 128, 128); clear: none; "><span class="Apple-style-span" style="font-size: medium;"><img src="http://d.yimg.com/a/p/fi/25/28/59.jpg?x=200&y=133&q=85&sig=P2rX5Vohem5mMpR9_UvVRg--" alt="AP - FILE - In this March 19, 2008 file photo, a pair of Caterpillar D6 bulldozers work on construction ..." width="200" height="133" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span style="line-height: 1.22em; color:#808080;"><span class="Apple-style-span" style="font-size: medium;">AP - FILE - In this March 19, 2008 file photo, a pair of Caterpillar D6 bulldozers work on construction ...</span></span></p></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Exports of U.S. goods rose for a sixth straight month. Further gains in exports should bolster manufacturers, who struggled during the recession. Heavy equipment maker Caterpillar Inc., for instance, has predicted that its sales will rise next year, reflecting in part greater demand from China and other Asian markets.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Economists noted that much of the improvement in the trade gap reflected a fall in oil imports. But David Resler, chief economist at Nomura Securities, said U.S. exporters are benefiting from growing economies overseas and a weaker dollar. A weak dollar makes their goods cheaper in other countries.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Resler boosted his forecast for growth in the current quarter to 3.2 percent, from 2.9 percent. The U.S. economy grew at a 2.8 percent pace in the July-September period after a record four straight quarterly declines.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The trade deficit fell to $32.9 billion in October, 7.6 percent below a revised September deficit of $35.7 billion, the Commerce Department said Thursday. The improvement reflected a 2.5 percent jump in exports. Imports rose a smaller 0.4 percent, a gain that was held back by a big drop in oil imports.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Through the first 10 months of this year, the deficit is running at an annual rate of $364.8 billion. That's about half the gap for all of 2008. The narrower trade deficit reflects the impact of the recession, which cut consumer demand for domestic and foreign goods.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The stock market rose after the improved trade deficit was reported. In afternoon trading, the Dow Jones industrial average was up about 75 points, or 0.7 percent. Broader stock averages also rose.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, the number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks. Claims were partly inflated by a surge after the Thanksgiving holiday week, when many state unemployment offices are closed, a department analyst said. Seasonal layoffs in the construction industry also played a role.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The key point ... is that the underlying trend in claims is falling rapidly," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Initial claims for unemployment insurance rose by 17,000 to a seasonally adjusted 474,000, the Labor Department said Thursday. That was above analysts' expectations of 460,000 new claims. Economists closely monitor initial claims, which reflect the pace of layoffs and companies' willingness to hire.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The four-week average of claims, which smooths fluctuations, fell to 473,750, its 14th straight decline and the lowest level since September 2008.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">If current trends continue, Shepherdson said, claims will fall below the 400,000 mark by February, which would signal that the economy is actually generating jobs. Even more optimistic economists say that net job gains could come in January or this month.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The number of people continuing to claim benefits fell by 303,000 to 5.16 million, the lowest level since February. The total unemployment benefit rolls have fallen in 11 of the past 12 weeks.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The so-called continuing jobless claims figure doesn't include millions of people who have used up the regular 26 weeks of benefits typically provided by states and are receiving extended benefits for up to 73 additional weeks.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">About 4.6 million people were receiving extended benefits in the week ended Nov. 21, the latest data available. That's an increase of about 130,000 from the previous week and is partly due to an extension of benefits that Congress enacted last month.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The economy grew at a 2.8 percent pace in the July-September quarter, and many analysts say it is likely growing at a similar pace in the current quarter. But that is much slower than the average 6 percent rate in previous economic recoveries.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">As a result, most economists expect the unemployment rate to rise in coming months and remain above 9 percent through the end of next year.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">President Barack Obama outlined a new jobs program Tuesday intended to bring down the unemployment rate, which is near a 26-year high. That effort includes tax breaks to encourage companies to hire new workers, increase bank lending to small businesses and a fresh round of infrastructure spending.</span></p></div></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-49702645266963354532009-12-10T18:35:00.000-08:002009-12-10T18:36:50.300-08:00Chinese car market overtakes that of United States<span class="Apple-style-span" style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">SHANGHAI (AP) -- China has overtaken the U.S. as the world's biggest market for automobiles, the first time any other country has bought more vehicles than the nation that produced Henry Ford, the Cadillac and the minivan.</span></p><div id="y-article-related" class="mod-group" style="margin-top: 5px; margin-right: 15px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; float: left; width: 232px; clear: none; zoom: 1; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; "><div id="yfi_market_summary" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; background-color: rgb(250, 251, 252); border-top-width: 3px; border-top-style: solid; border-top-color: rgb(220, 235, 245); "><div class="hd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 10px; padding-bottom: 10px; padding-left: 10px; line-height: 1.22em; background-color: rgb(238, 243, 246); "><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; line-height: 1.22em; color: rgb(0, 0, 0); border-top-width: initial; border-top-style: none; border-top-color: initial; "><span class="Apple-style-span" style="font-size: medium;">Related Quotes</span></h2></div><div class="bd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "><table id="yfi_ms_accordion" style="border-collapse: collapse; -webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; line-height: 1.22em; width: 232px; max-width: 600px; color: rgb(68, 68, 68); height: 180px; "><thead style="line-height: 1.22em; color: rgb(155, 155, 155); "><tr style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(216, 216, 216); "><th class="first" scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; ">Symbol</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Price</th><th scope="col" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 3px; font-style: inherit; font-weight: inherit; text-align: right; line-height: 1.22em; ">Change</th></tr></thead><tbody style="line-height: 1.22em; "><tr tabindex="0" class="selected" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=AsU1YJHv7vp7fr57O3Bhqqfeba9_;_ylu=X3oDMTB1MjlxNjRtBHBvcwMxBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDZg--?s=F" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">F</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_f" style="line-height: 1.22em; ">9.05</span></td><td class="up" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_f" style="line-height: 1.22em; color: rgb(0, 153, 0); ">+0.19</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div class="selected" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: auto; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=Ao6WoDJIybhj8m41_oGZBpLeba9_;_ylu=X3oDMTE5cDBtOW85BHBvcwMyBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jmb3Jk?s=F" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/F/chart;range=1d/image;size=179x98" alt="Chart for FORD MOTOR CO" title="Chart for FORD MOTOR CO" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; margin-top: 10px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; " /></a></div></td></tr><tr tabindex="1" style="line-height: 1.22em; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; "><th scope="row" class="symbol" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 3px; padding-right: 3px; padding-bottom: 3px; padding-left: 10px; font-style: inherit; font-weight: inherit; text-align: left; line-height: 1.22em; "><a href="http://finance.yahoo.com/q;_ylt=Atb1W9GczFHviq7m4VY9Fyreba9_;_ylu=X3oDMTE0YTRxc2EyBHBvcwMzBHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDbXRscXFwaw--?s=MTLQQ.PK" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; ">MTLQQ.PK</a></th><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_l10_mtlqq.pk" style="line-height: 1.22em; ">0.58</span></td><td class="down" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0.1em; padding-right: 0px; padding-bottom: 0.1em; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><span class="streaming-datum" id="yfs_c10_mtlqq.pk" style="line-height: 1.22em; color: rgb(173, 0, 0); ">-0.01</span></td></tr><tr class="chart" style="line-height: 1.22em; border-top-width: 1px; border-top-style: none; border-top-color: rgb(216, 216, 216); border-bottom-style: none; border-bottom-width: initial; border-bottom-color: initial; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; background-color: rgb(255, 255, 255); "><td colspan="3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; font-weight: bold; text-align: right; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; overflow-x: hidden; overflow-y: hidden; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; text-align: center; height: 1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><a href="http://finance.yahoo.com/q;_ylt=AqRS2b7wGVM4UtuK8jU3_0Heba9_;_ylu=X3oDMTE5cm1wNXVqBHBvcwM0BHNlYwNyZWxhdGVkLXF1b3RlcwRzbGsDY2hhcnRmb3Jtb3Rv?s=MTLQQ.PK" style="line-height: 1.22em; color: rgb(26, 84, 136); text-decoration: none; "><img height="98" width="179" src="http://ichart.finance.yahoo.com/instrument/1.0/MTLQQ.PK/chart;range=1d/image;size=179x98" alt="Chart for MOTORS LIQUIDATION" title="Chart for MOTORS LIQUIDATION" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-style: initial; border-color: initial; line-height: 1.22em; max-width: 600px; " /></a></div></td></tr></tbody></table></div><div class="ft" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.22em; "></div></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Now that the Chinese buy more cars and trucks than Americans, the shift could produce ripples for the environment, gas prices and even the kinds of cars automakers design.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">More than 12.7 million cars and trucks will be sold in China this year, up 44 percent from the previous year and surpassing the 10.3 million forecast in the U.S., according to J.D. Power and Associates.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">China has long been expected to overtake the U.S. since its population of 1.3 billion is more than quadruple that of the United States. But the increase in sales happened much faster than anyone expected because of China's tax cuts, its stimulus program and a depressed American market.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Two years ago, J.D. Power predicted China would pass the U.S. in 2025. Earlier this year, it forecast 2009 sales of just 9 million vehicles for China.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">After a sharp slowdown in auto sales late last year, the Chinese government cut taxes on small cars and spent $730 million on subsidies to encourage sales of SUVs, pickups and minivans. A big stimulus program also boosted truck sales by pumping money into construction.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Auto sales were expected to rise with China's stimulus, but they have far exceeded expectations, said Jeff Schuster, J.D. Power's executive director of automotive forecasting.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Most experts think the top-sales title will shift back and forth between China and the United States for the next several years, with China ultimately prevailing.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Improving sales of autos and other big-ticket items is key to Beijing's strategy to promote stronger domestic consumption and lower dependence on exports.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"The government has sent a very clear message that they will not let the auto industry weaken, especially in 2010," say Jia Xinguang, chief analyst at China National Automotive Industry Consulting & Developing Corp.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, U.S. sales hit a 26-year low in early 2009 and remain well below the 17 million average from earlier this decade.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">China's growing auto market is sure to affect the industry worldwide. Some key factors are:</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">-- CHINA'S CAR POLLUTION: It's gotten worse. China's fleet is newer, and big cities have imposed emissions standards that exceed those in the U.S., but lax enforcement of standards is a major problem. Vehicles may meet standards at first but then degrade over time.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">On top of that, the number of vehicles on China's roads is soaring, although it's still a fraction of the U.S.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">-- FUEL DEMAND: Global demand for oil is rising, fueled by China and India. Most energy experts agree that demand for crude has peaked in the U.S. Meanwhile, China's demand for oil used in transportation could more than double between 2007 and 2020, according to the World Energy Outlook, a joint study by the Organization for Economic Cooperation and Development and the International Energy Agency.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">At home, China struggles both with the amount and quality of its fuel supply. A study by Harvard researchers found that refiners were not supplying fuel that was good enough to meet the country's rising emissions standards.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The cost of oil is prompting China to encourage a shift to cars and trucks that are more fuel efficient or run on batteries and alternative fuels. The government has raised taxes on gas guzzlers. China is the world's No. 3 net importer after the U.S. and Japan.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">-- VEHICLE DESIGN: The Chinese will have more influence over vehicle design as they buy more cars. GM had its Chinese team design the 2010 Buick LaCrosse because the brand sells better in China than in the U.S. Buick is considered a luxury car in China.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">The designers included sumptuous back seats for executives with drivers. They also used Feng shui principles and swooping designs based on Chinese art.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Chinese automakers will emerge stronger from the sales boom. BYD Co. aims to overtake Toyota as the global auto leader by 2030. Among BYD's backers is billionaire investor Warren Buffett.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">China's sales may grow so large that cars designed for Chinese tastes are sold globally, the way U.S. vehicles are now. But some experts doubt that will happen until Chinese automakers become competitive on style and quality.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Meanwhile, as China's middle class expands, Chinese car shoppers are developing tastes similar to those of drivers in the U.S. and other wealthy nations.</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">"I talk to my friends in Beijing," says Crystal Jiang, a professor at Bryant University in Smithfield, R.I., who studies globalization. "I drive a Subaru, they also drive a Subaru."</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.4em; display: block; color: rgb(24, 24, 24); "><span class="Apple-style-span" style="font-size: medium;">Durbin reported from Detroit. AP Auto Writer Tom Krisher in Detroit contributed to this report.</span></p></span>Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0tag:blogger.com,1999:blog-700612745068273792.post-50180052629474278092009-10-13T07:35:00.000-07:002009-10-13T07:41:24.378-07:00Investment Return by Dali 1WInvestment Return<br /><br />Investment Return as at 2009-10-12<br />3 Month Return 13.84%<br />6 Month Return 26.69%<br />1 Year Return 27.90%<br />3 Year Return 51.66%<br />5 Year Return 62.32%<br />Investment performance information as on bid to bid basis. Nett distributions reinvested. For reference only.<br /><br />See how people invest six month before 12/10/09 now already get very high return. So grab this opportunity with investing the best islamic fund 4th consecutive Failaka Award......Don't Wait because you wasting your money through virus what we call it inflation rate. ......Enterpreneurhttp://www.blogger.com/profile/06530000850969687596noreply@blogger.com0