Archive for the 'ECONOMY' Category
Wednesday, April 2nd, 2008
| Equities shot up at the open triggered by a rally in markets across the globe after a Lehman Brothers share offering triggered hopes that the worst of the credit crisis may have ended.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 539 points or 3.45 per cent at 16,165.41.
Biggest Sensex gainers were ICICI Bank (up 6.4%), HDFC Bank (5.39%), DLF (4.94%), Wipro (4.89%), Larsen & Toubro (4.84%), HDFC (4.67%) and BHEL (4.18%).
There were no losers in the 30-share index. Market breadth on BSE showed 789 advances and 25 declines.
The National Stock Exchange’s Nifty was up 152 points or 3.21 per cent at 4891.60.
“The outlook is positive today following cheerful global cues.
Sensex faces resistance at 15,874 and while support comes at 15,338. The Nifty faces resistance at 4,817 and support lies at 4,645,” Networth Stock Broking said in a note.
Asian stocks advanced the most in seven weeks, led by banks and technology companies, on speculation financial companies will be able to overcome a freeze in credit markets and shore up global economic growth. The Nikkei 225 rose 3.72 per cent, the Hang Seng increased 4.22 per cent and the Straits Times added 2.59 per cent.
US stocks on Tuesday celebrated the start of a new quarter, rallying as Lehman Brothers Holdings Inc.’s equity offer drew a warm reception, fueling the Dow Jones to its 8th-biggest point jump ever. The index gained 3.19 per cent. The Standard & Poor’s 500 Index rose 3.59 per cent and the Nasdaq Composite Index jumped 3.67 per cent.
source: google news
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Tags:blogs: stock exchange bull COMMON WEALTH CURRENT NEWS Economy financial INDIA markets sensex share triggered |
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Tuesday, April 1st, 2008
| The Congress has fastened its belt to regain lost ground in Uttar Pradesh.
It has now launched a Hisaab Maango campaign against the Mayawati government, asking for an account of work done by the state government.
Congress president Sonia Gandhi remained silent on the rising prices, while Rahul Gandhi unveiled the new slogan of the party, from ‘Congress’s hand is with the common man’, to ‘both the congress’s hands are for the poor’.
Sonia Gandhi has said that she is ready to allow her son Rahul Gandhi to go to jail with the rest of the party workers in UP for the jail bharo campaign.
‘’I think nothing can happen in Uttar Pradesh until our workers are ready to go to jail. Are all of you ready to go to jail? If need be, Rahul will go with you when you go to jail,'’ said Congress president Sonia Gandhi, in an attempt to evoke the enthusiasm among the party workers in UP.
The Congress president means business and she made that clear to party workers in Kanpur. Her target, certainly, is Mayawati and the Bahujan Samaj Party.
The plan is simple. The party is to ask the state government to give an account of its work during the Hisaab Maango campaign.
And then the workers are to court arrest in the jail bharo campaign, wherein, Rahul may accompany the party workers.
‘’I have a new slogan that is usually kept in my mind. I want to say that both the Congress’s hand is with the poor,'’ said Rahul Gandhi, who is the general secretary of the Congress.
Conspicuously absent in the speeches was any mention of the rising prices. The Gandhis believe that leading from the front is the best way to revive the party. However, How they deliver on this promise remains to be seen.
source: google news
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Tags:blogs: rahul campaign COMMON WEALTH CONGRESS CURRENT NEWS Economy ELECTIONS GANDHI government INDIA mayawati party POLITICS slogan uttar pradesh |
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Wednesday, March 19th, 2008
| Equities zoomed at the open on Wednesday extending a rally in stocks overseas after the US Federal Reserve cut interest rates by 75 basis points in an effort to provide more liquidity to crumbling financial markets. At 10:05 am, the Bombay Stock Exchange’s Sensex was up 538 points or 3.63 per cent at 15,371.32.
Jaiprakash Associates (up 10.02%), HDFC Bank (7.01%), ICICI Bank (5.33%), HDFC (4.66%) and Bharti Airtel (4.61%) were the biggest index gainers. The National Stock Exchange’s Nifty was up 154 points or 3.41 per cent at 4687.35.
“Though we have a gap up opening due to very positive global markets, at the same time, fresh short build up could be seen at higher levels (4750-4800 levels). The PCR (put-call-ratio) has come down to 0.83 indicates short built up is happening in call options. The market might face very strong resistance around 4800 levels of Nifty,” Standard Chartered - STCI Capital Market, said in a note.
Asian stocks surged on Wednesday as big interest rate cuts in the United States and surprisingly resilient results from two top Wall Street banks sent exporters higher and revived moribund financial shares. The Nikkei 225 was up 3.03 per cent, the Hang Seng rose 2.78 per cent and the Straits Times added 1.85 per cent.
US stocks on Tuesday blasted skyward, with the Dow Jones rocketing to its fourth-largest point gain ever after earnings from Goldman Sachs Group and Lehman Brothers Holdings proved better than expected and a rate cut by the Federal Reserve. The Dow Jones Industrial Average climbed 3.5 per cent, while the Nasdaq Composite and Standards & Poor’s 500 rose more than 4 per cent.
source: google news
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Wednesday, January 2nd, 2008
| WASHINGTON — United States intelligence analysts are not convinced by the evidence offered so far by Pakistani authorities that a militant linked to Al Qaeda was responsible for Benazir Bhutto’s assassination, American officials said Tuesday.
Pakistani authorities, working from a single intelligence intercept collected the day after Ms. Bhutto’s death, have identified a militant leader, Baitullah Mehsud, as the chief suspect behind the attack.
“As far as I know, the Pakistanis are saying this is it, this is the proof,” said a senior State Department official, who, like other officials contacted for this article, spoke on condition of anonymity because of the continuing investigation. “Before our guys say yes or no, they need a hell of a lot more than one thing, even if it is a substantial piece of evidence.”
As American officials disclosed Tuesday that the Bush administration had differed with Ms. Bhutto’s representatives over how best to improve security for her, questions surrounding her assassination mounted, adding to the pressure for outside involvement in the inquiry.
A Pentagon official said that American analysts were examining several other potential enemies of Ms. Bhutto, including elements of Pakistani Taliban groups and other Islamic extremists. “There are so many people who’d want to kill her, it’s difficult to ascribe any one agency,” the official said.
American officials said that the United States did not have access to all the information available to Pakistani authorities, and that in the end, Mr. Mehsud might well be held responsible for the attack on Ms. Bhutto. Based in the South Waziristan tribal areas near the Afghan border, Mr. Mehsud has been accused by Pakistani officials of being behind most of the suicide attacks on government, military and intelligence targets in recent months.
With skepticism growing inside and outside Pakistan about the competence and objectivity of the investigation into Ms. Bhutto’s assassination, President Pervez Musharraf is expected as early as Wednesday to ask Scotland Yard to send technicians to help with the inquiry, an American official said.
Senior Bush administration officials and American lawmakers from both parties have privately been urging Mr. Musharraf to allow international involvement in the inquiry to give it credibility with Ms. Bhutto’s family and supporters, and to help tamp down civil unrest.
While a team of forensic experts from the Federal Bureau of Investigation has been standing by to fly to Pakistan, an American official said Tuesday that sending British specialists from Scotland Yard would be less likely to inflame tensions in Pakistan.
Outside experts joining the inquiry are unlikely to assuage Ms. Bhutto’s most fervent supporters, including her widower, Asif Ali Zardari, and her 19-year-old son, Bilawal Bhutto Zardari, who has been chosen as chairman of the Pakistan Peoples Party.
The elder Mr. Zardari has called for an inquiry modeled on one by the United Nations after the 2005 assassination of Rafik Hariri, a former Lebanese premier. Pakistan’s ambassador to the United States, Mahmud Ali Durrani, seemed to rule out that possibility, saying in a telephone interview on Monday that such an international investigation posed “a lot of complications.”
The elder Mr. Zardari has also complained that the Bush administration failed to press Mr. Musharraf’s government hard enough to provide adequate security for his wife during her campaign.
On Tuesday, however, American officials fired back, saying they had provided a constant flow of threat reports to Ms. Bhutto and her political advisers, even before she returned to Pakistan on Oct. 18 after a self-imposed exile.
American intelligence officials said they never received a credible threat of an attack with a specific date, time or place. Short of that, they said, Ms. Bhutto, a strongly opinionated, two-time prime minister, decided she would mount an aggressive political campaign.
“U.S. officials repeatedly met with and spoke with former Prime Minister Bhutto and members of her party — including Zardari — to discuss her security concerns,” the State Department official said. “It was general advice, not what route to take or which rally to attend.”
The official said that each time Ms. Bhutto or her advisers requested the administration’s help in getting increased security for her from the Musharraf government, administration or embassy officials pressed her case with Pakistani authorities. On the day she was killed, Ms. Bhutto was riding in an armored car after a political rally in Rawalpindi.
The State Department official said diplomats at the United States Embassy in Islamabad, including Ambassador Anne W. Patterson, were in daily contact with officials from Ms. Bhutto’s party. The Americans passed along information and specific advice on private security contractors to hire, counsel that Ms. Bhutto and her aides apparently spurned, the official said.
Diplomats and security experts at the American Embassy, for example, discouraged Ms. Bhutto from hiring American or British private security firms, fearing that a Western guard detail would draw too much attention to her and become a target.
Security officers at the embassy instead recommended the names of half a dozen Pakistani security companies that the United States and other Western countries had used to protect their personnel, the State Department official said. “The local companies employed guards who spoke the language and knew the landscape,” the official said.
But Ms. Bhutto and her husband rejected that suggestion, the official said, apparently fearing that even the reputable Pakistani firms might be infiltrated by extremists.
“Was she aware of the threat? Of course, she was aware,” said the Pentagon official. “But I don’t know how foolproof you can make any security when people are willing to kill themselves.”
source: newyorktimes
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Tags:Americas bhutto blogs; pakistan Economy evidence killed LIFE |
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Saturday, June 2nd, 2007
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Thursday, April 26th, 2007
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Monday, April 23rd, 2007
Male Child Birth Rate Falling In US and Japan
The number of male babies born in the U.S. is dropping.
And environmental factors may have a role to play in the changing
demographic pattern, says a new study.
Researchers have found that the male birth is on a steady decline for
the last three decades. The decline is equivalent to 135,000 fewer
white males in the last 30 years in the U.S. Interestingly the decline
is confined to whites only.
In Japan too a similar decline has been reported.
They say the reason for the decrease is unclear, but environmental factors
coupled with the rising age of parents giving birth may be playing a role.
“We know that men who work with some solvents, metals, and pesticides father
fewer baby boys. We also know that nutritional factors, physical health, and
chemical exposures of pregnant women affect their ability to have children and
the health of their offspring,” says Devra Lee Davis, director of the University
of Pittsburgh Cancer Institute’s Center for Environmental Oncology, in a news
release.
“We suspect that some combination of these factors, along with older age of parents,
may account for decreasing male births,” the news release states.
Environmental factors, such as prenatal exposure to endocrine- disrupting
environmental pollutants may impact the SRY gene – a gene on the Y chromosome that
determines the sex of a fertilized egg.
Other environmental factors that also may affect the viability of a male fetus include
the parents’ weight, nutrition and the use of alcohol and drugs.
In the study, researchers analyzed birth statistics in the U.S. from 1970 to 2002 and
in Japan from 1970 to 1999. The results appear in the online edition of Environmental
Health Perspectives.
The results showed an overall decline of 17 males per 10,000 births in the U.S.
and 37 males per 10,000 births in Japan during the study period.
On the other hand the number of black male births has increased slowly over the last
three decades, though the ratio of male-to-female births among blacks remains lower
than that of whites.
In addition, blacks have a higher fetal mortality rate, and male black babies
are more likely to die than females.
“Given the higher mortality rates for African-American males in the United States,
these results re-emphasize the need to determine all factors, including environmental
contaminants, which are responsible for this continuing health disparity,” notes
researcher
Lovell A. Jones, director of the Center for Research on Minority Health at the
University of Texas M.D. Anderson Cancer Center.
“Given the importance of reproduction for the health of any species, the trends we
observed in the U.S. and Japan merit concern,” added Dr. Davis. “In light of our
findings,
more detailed studies should be carried out that examine sex ratio in smaller
groups with defined exposures as a potential indicator of environmental contamination.”
Source-Medindia
SRM/B
Nature is however maintaing the balance as there is a falling rate
of female births in India . May be GOD the UNIVESRE IS DESIGNING to
make the global HUMAN village a multireligious society leading to the
one and the GOD the Universal Soul .
Prince Mohan
http://currentnewsaffairs.com
Tags:AYURVEDA Economy HER HOLINESS MAHA MAYA HUMAN BEINGS INDIA INTERNATIONAL POLITICS LIFE Male Child Birth Rate MIND mindbodynsoul.com OSHO PHILOSOPHY POSITIVE MENTAL ATTITUDE PUBLIC RELIGION SCIENCE SCIENTIST SOCIETY South Asia TIME TODAY U.S.A UNIVERSAL SOUL VITAL LIFE FORCE ENERGY VOTE BANKS Wealth WORLD AFFAIRS |
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Sunday, April 22nd, 2007
Posted in CURRENT NEWS AFFAIRS, ECONOMY, Health, TIME, GOD, UNIVERSAL SOUL, HER HOLINESS MAHA MAYA, RICH, RELIGION, VITAL LIFE FORCE ENERGY, TODAY, PUBLIC, VOTE BANKS, SOCIETY, HUMAN BEINGS, OSHO, U.S.A, U.K, U.N, POWER POLITICS, MIND, PATENT RIGHTS, ZERO PATENT, Europe, Entertainment | 6 Comments »
Saturday, April 21st, 2007
FORBES VALUE YANKEES AT US$1.2 BILLION
April 21 , 2007
There’s money in those pinstripes.
The value increased by 17 percent for New York Yankees in the past year to $1.2 billion,
Forbes magazine said Thursday in its annual estimates of Franchise worth.
The Florida Marlins given the lowest value at $244 million, had the highest operating
income at $43.3 million, according to the magazine.
“As usual, the Franchise Valuations and operating income numbers are pure Fantasy and
based on no correct information,” Marlins president David Samson said. “To comment on
such irresponsible journalism would only give it more credit than it deserves.”
The magazine defended its article.
“Forbes compiles its annual valuations of Major League Baseball franchises based on
information obtained from team executives, sports bankers, public documents, and other
sources believed to be reliable,” spokeswoman Elizabeth Wasden said. “We stand by our
figures, and the content published.”
Despite the record evaluation for the Yankees, Forbes said they were the only ones to
post an operating loss after revenue sharing last year. The magazine estimated the
Yankees were $25.2 million in the red on operating revenue of $302 million, after
revenue-sharing payments to the commissioner’s office. The Yankees estimate their
revenue-sharing bill for 2006 will be about $70 million.
“I am gratified at the Forbes valuation of the Yankees,” New York owner George
Steinbrenner said in a statement. “We are continuing to build a worldwide brand for the
people of New York and Yankee fans everywhere.”
The New York Mets were given the second-highest value ($736 million), followed by
the Boston Red Sox ($724 million), the Los Angeles Dodgers ($632 million),
the Chicago Cubs ($592 million), World Series champion St. Louis ($460 million),
San Francisco ($459 million), Atlanta ($458 million) and Philadelphia ($457 million).
At the other end were Florida ($244 million), Tampa Bay ($267 million),
Pittsburgh ($274 million), Kansas City ($282 million), Milwaukee ($287 million),
Minnesota ($288 million) and Oakland ($292 million).
Franchise values did not include provisions for television networks owned in whole
or part by teams, such as the YES Network (Yankees), NESN (Red Sox) and Comcast
SportsNetChicago (Cubs), Forbes associate editor Kurt Badenhausen said.
The Dodgers had the second-highest operating income at $27.5 million, followed by
Pittsburgh ($25.3 million), Cleveland ($24.9 million), the Mets ($24.4 million),
Colorado ($23.9 million), Cincinnati ($22.4 million), the Cubs ($22.2 million),
Seattle ($21.5 million), Milwaukee ($20.8 million) and Tampa ($20.2 million).
Rob Manfred, baseball’s executive vice president of labor relations, criticized Forbes’
figures last year but declined comment Thursday.
Source New York AP
http://wwwUniversalNews.blogspot.com
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Tags:ABUNDANCE Americas BUSINESS BUSINESS ONLINE CAREERS COMMON WEALTH COUNTRIES Economy Energy Entertainment EUROPE FORBES ANALYSTS FORBES VALUE YANKEES AT US$1.2 BILLION GOD health HER HOLINESS HUMAN BEINGS INDIA INTERNATIONAL POLITICS Investments laughter LAWS LIFE MIND Money MONEY OUT OF THIN AIR PATENT RIGHTS PHILOSOPHY POSITIVE MENTAL ATTITUDE POWER POLITICS PUBLIC RICH SCIENCE SOCIETY South Asia Sports TIME TODAY U.K U.N U.S.A UNIVERSAL SOUL VALUATIONS VITAL LIFE FORCE ENERGY Wealth WORLD AFFAIRS |
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Saturday, April 21st, 2007
A multibillion-pound battle for control of Alliance Boots broke out today as the health and beauty group’s directors accepted a £10.6bn bid - only to see it trumped by a rival consortium offering shareholders an extra £200m.
The Alliance Boots board voted to recommend a formal £10.90-a-share bid from the private equity group Kohlberg Kravis Roberts and Boots’s deputy chairman Stefano Pessina at a board meeting late on Thursday night. The bidders had proposed to pay £10.60 but were forced higher when the Alliance Boots board told them that Terra Firma was planning a £10.85 offer.
Their new bid is £900m more than KKR first offered six weeks ago - and £3bn more than most City analysts thought the company was worth before either bid emerged.
However, less than four hours after Alliance Boots and KKR announced they had reached a deal, Terra Firma, run by the financier Guy Hands, and his partner, the Wellcome Trust, slapped an even higher proposed bid on the table, of £11.26 a share. That bid is subject to Hands’s team completing due diligence and is not yet a formal offer.
Alliance Boots shares closed up 75.5p at £11.25 - suggesting traders believe that KKR will return with a yet higher offer. One analyst, Luca Solca of Bernstein, said a private-equity buyer could afford to pay up to £13, which would value the business at £12.6bn.
Terra Firma’s offer of £11.26 will actually be reduced to £11.15 - or £10.8bn - for shareholders. The top slice of the bid would be diverted to pay a record £106m “break fee” that Alliance Boots has agreed to hand over to KKR and Pessina if it eventually backs a different deal.
The bid battle almost certainly signals the end for Boots - one of the most trusted high street brands - as a publicly listed company. It will also be the first FTSE-100 company to fall into private hands and the biggest such buyout ever witnessed in Europe, worth some £3bn more than the Apax-led bid for Tele Danmark in 2005.
The business, created by the merger of Boots and Alliance Unichem only seven months ago, operates 2,600 UK pharmacies and has a drugs distribution network spanning 14 countries. It has more than 100,000 staff.
KKR has yet to reach agreement with the trustees, but the schemes are relatively well funded and KKR said the negotiations were “amicable”.
In a note for RBC Capital Markets, the pension consultant John Ralfe - who used to run the Boots scheme - said the trustees were in “a very powerful negotiating position”. He believes they could win a cash injection into the fund of up to £500m.
Funding is unlikely to be a problem. Terra Firma has added HBOS to its team as an equity partner. A source close to Mr Hands said banks were queuing up to back their offer: “They are twice oversubscribed on the debt.” HBOS and HSBC are among the banks ready to provide financing.
KKR and Mr Pessina have lined up eight banks to back their bid, including Barclays, Citigroup, Royal Bank of Scotland and Merril Lynch - who quit as Alliance Boots house broker to join the deputy chairman’s bid team.
Today there were few details forthcoming about how the deal will be structured and how much debt KKR and Mr Pessina plan to pile into the company. However, Mr Pessina would swap three quarters of his 15% Alliance Boots stake for shares in AB Acquisitions - the company they plan to use to acquire the business. In return he will be given joint control of the business.
The 65-year-old Italian said he intended to crank up the pace of expansion with an aggressive acquisitions strategy. “Pace and focus is the main reason we are doing this,” he said. He added that he was not a natural public company director: “I am an entrepreneur. I am a completely different kind of animal.”
Some analysts have calculated that Mr Pessina could double his £1bn investment in less than five years if the deal is successful, but he insisted he was not doing the deal to boost his own personal fortune: “I am 65. I have all the money I need - more than people think - and I am still working seven days a weeks and 10 or 11 hours a day. I am not doing this for the money.”
Terra Firma has requested further financial information and a meeting with Boots management, which is expected to take place next week.
The bid comes amid mounting hostility to private-equity buyouts from unions, MPs and some businessmen, who accuse the buyout specialists of asset stripping and unneccessary secrecy. Yesterday Mr Pessina said he intended to run one of the most “transparent” private equity-owned firms and promised to publish a detailed “annual review” of the business.
The unions, however, remain concerned. The GMB general secretary, Paul Kenny, has written to the health secretary, Patricia Hewitt, and the trade secretary, Alistair Darling, asking them to call in Mr Pessina to provide reassurance that his plan will not harm local pharmacies or increase the cost of drugs to the NHS.
“We won’t close down any stores or any pharmacies,” Mr Pessina said. “If we close one it is just a gift to someone else. It just doesn’t make any sense.”
The Transport and General Workers Union said the battle for Boots would inevitably mean “extraction rather than creation of wealth”.The TUC general secretary, Brendan Barber, has written to the bidders asking them to spell out their plans for the business.
Sir Nigel Rudd, chairman of Alliance Boots, said the offer from KKR reflected the “hugely valuable business” created by last year’s merger: “I am delighted that the board has been able to achieve such a good price for shareholders.”
source : Guardian
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