| STX Pan Ocean wins $273m coal shipping contract
SINGAPORE-LISTED STX Pan Ocean 028670.KS said the firm has won a contract to transport steaming coal worth $273 million. The South Korean dry bulk commodities shipper said that the 15-year deal, with Korea Southern Power Ltd, begins in 2011 and will be a stable source of profit for the company. -- REUTERS .
Rudd turns a new page for Labor
For the first time in more than 11 years Australians are waking up to a changed political landscape, with Labor readying itself to take power. Kevin Rudd swept aside the Prime Ministership of John Howard with a stunning victory, turning a 16-seat deficit into a majority of about 22 seats, depending on the final outcomes in a handful of electorates. Mr Howard conceded graciously, sending Mr Rudd and the Labor Government he will lead his best wishes and admitting it was "very likely" that he had lost his own seat of Bennelong to Labor's Maxine McKew. Mr Rudd says Australians had looked to the future in placing their trust in him and his team. "Today Australia has looked to the future," he said. "Today the Australian people have decided that we as a nation will move forward." "We should celebrate and honour the way we conduct this great Australian democracy of ours, and it's been on display tonight," he said.
Cisco Secure Wireless
One of the most difficult challenges facing the federal government in general, and defense agencies in particular, is how to protect data in-transit across wireless networks, while allowing agencies to benefit from mobile computing. A secure wireless architecture should:
• Reduce an agency’s total cost of ownership
• Leverage existing wired infrastructure
• Use a common set of access-point/sensor hardware
• Deliver investment protection
• Support location-based services in a cost-effective way
• Converge wired/wireless security.
Join Stephen Orr (bio) for the Secure Wireless Viewpoint, the first in a series of Conversations with Cisco®, and learn how the Cisco secure wireless solution meets all aspects of the Federal.
Mason says 'few' jobs will be lost
"Few" jobs will be lost as a result of the agreement announced yesterday between Citigroup Inc. and Legg Mason Inc., Legg Mason CEO Raymond "Chip" Mason said yesterday.
In fact, Citigroup may open an operations center in Baltimore, Mason said in an interview - though he said the final decision would be Citigroup's. A Citigroup spokeswoman declined comment.
Citigroup's consumer lending division, CitiFinancial, has a large presence in Baltimore.
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Stock & fund quotes
The index is down 12.6 percent so far this year. Banking stocks fell on worries that higher interest rates would slow demand for loans, and could also lead to increased bad loan charges. NAB, the nation's top lender by assets, lost 4.3 percent to A$32.00. Commonwealth Bank of Australia Ltd <CBA.AX> (CBA), the second-biggest lender, fell 2.8 percent to A$48.75. CBA reports earnings on Wednesday with a Reuters survey forecasting a 7.8 percent rise in profit. [ID:nSYD208303]. A trading halt in shares of asset manager Allco Finance Group <AFG.AX> caused jitters among investors who are already worried about banks' exposure to highly leveraged companies in light of troubles faced by Centro Properties Group <CNP.AX> and MFS Ltd <MFS.AX>.
Chicago trader fulfilled dreams of adventure
After more than two decades of cheating death in his quest for world records and heart-stopping thrills, Chicago businessman Steve Fossett died doing what he loved: flying solo, planning his next adventure.
On Friday, months after Mr. Fossett disappeared in a remote Nevada desert, a judge in Chicago declared him legally dead. His body has not been found.
He has been missing since Sept. 3, when he took off on what was to have been an easy three-hour flight to scout for dry lake beds for use in his upcoming attempt to break the land speed record in a car whose engine once powered an Air Force fighter jet.
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