| Fear of unemployment stalks high-flyers in high-rise offices
If New York is often likened to a movie set, the scenes playing out on Wall Street involve a cast of hard-drinking, despondent, young men. "Picture a movie from the 1940s, Bogey is sitting at the bar with a bottle of scotch, three quarters done - that pretty much sums up Wall Street at the moment," says Howard Silverblatt, a senior index analyst for Standard & Poor's in New York. "Everybody is waiting to see the bottom. When you know where that is going to be, you can deal with it, but at the moment we can't see the bottom. Two shoes have already dropped, but how many more will there be?" Andy Brooks, the head of listed stock trading for T Rowe Price, the fund manager, adds: "These are extraordinary times and it is very emotional out there. I haven't seen so much uncertainty in the market since the start of the Iraq war.
Aboriginal numbers soar, census shows
Canada's aboriginal population has increased 45 per cent over a decade and cracked the one-million mark for the first time since records have been kept, new census data indicate. In 2006, 1,172,790 people said they were members of at least one of three aboriginal groups: North American Indian, Métis (mixed native-European descent) or Inuit. The fastest gain in population of the three groups was in the Métis population, which almost doubled in 10 years. Those who identified themselves as Indian increased by 29 per cent, while the Inuit population went up 26 per cent. Between 1996 and 2006, the aboriginal population increased 45 per cent, a rate nearly six times faster than the 8-per-cent growth for the non-aboriginal population over the same period.
Autogyro Money?
The blaming of a $7 billion hit to SoGen on one trader seems to be taking our old observation that "The bigger the trading loss-the more unauthorized the trade" to hitherto unimaginable levels. The full story is not out yet. However, considering the enormity of widespread losses, dire exclamations would be natural, but have been subdued, or perhaps we missed some. Or maybe, the lack is indicating that the worst will be discovered over the next hill. Last Year: "Credit Woes Chip at Banks" "Even as the big banks crank out double-digit earnings gains, weakening in credit quality is showing up." - Wall Street Journal, January 18, 2007 "Conservative Investors Line Up For Junk Bonds" "The junk-bond market is undergoing a sort of gentrification, appealing to more conservative investors, who like many in the current low-yield environment, are starved for higher returns." - Wall Street Journal, January 20, 2007 The old "reaching for the extra 1/8th in yield" is always and inevitably a killer.
San Francisco Chronicle Acknowledges ENDGAME By Homeland Security
Whether designing an LNG facility, serving as a defense industry contractor, or providing small capital construction, KBR delivers world-class service and performance. KBR employs more than 60,000 people in 43 countries around the world. Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and KBR. Visit the company's World Wide Web site at www.halliburton.com. by lil (14 articles, 6 quicklinks, 262 comments) on Monday, February 11, 2008 at 11:50:20 AM .
Recovery to continue Mon; RBI, Fed meet eyed
MUMBAI: The recovery in Indian equities is seen continuing on Monday on positive cues from global markets. In the subsequent sessions, the market will track the outcome of RBI's credit policy review Tuesday, US Federal Reserve's 2-day meet starting Tuesday and expiry of January futures and options series Thursday. .
Asian Stocks Rebound Fizzles Out
Forex: Carry trades continued at the start of the Asian session, as stock markets rebounded in a knee-jerk reaction to the Fed's emergency rate cut. But the rebound in Asian stocks lacked conviction, and carry trades reversed in the afternoon. "The very crux of the reason we didn't have a snapback (stocks) rally is that the market was calling for this already," said Peter McCorry at Keefe Bruyette & Woods, referring to the market's reaction to the Fed's 75bps interest rate cut. The NZD/JPY erased early gains despite talk of Uridashi issues later this week. The AUD failed to hold on to data-related gains after the stronger than expected Q4 inflation data, with AUD/JPY selling dragging down AUD/USD. AUD/USD is currently trading below the 60% retracement of its recent drop from 0.9021 to 0.8504.
|
