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Saturday, December 4, 2010

New York Republicans regained the majority of the State Senate as Judge Certifies Race

New York, the Republicans regained control of the state Senate after Jack Martin was declared the winner of a race in Nassau County today by Supreme Court Justice Ira Warshawsky, The Associated Press. The ruling gives Republicans at least 32 members in the chamber's 62 seats, with a contest is still undecided. By 2008, when Democrats won a majority in the Senate 32-30, the Senate had been controlled by Republicans since 1966. Democrats held a majority in the Assembly of 150 seats in the Nov. 2 election. The victory of the Republicans on Democratic Sen. Craig Johnson reinforced the party's position in negotiations for next year close to $ 9 billion budget deficit and the development of new district boundaries from lawmakers. "The arrogance of one-party rule" in the Legislature voting injured...

Rescue Fund can be increased, Reynders said in a break with Merkel

Belgian Finance Minister Didier Reynders said the euro region could increase the size of its 750 million euros ($ 1 billion) rescue fund, breaking ranks with German Chancellor Angela Merkel and Nicolas Sarkozy of France. Reynders told reporters in Brussels that the current joint account may be higher if governments decide to create a larger pool as part of a mechanism of permanent crisis in 2013. "If we decide that in the coming weeks or months, why not apply immediately to current installation? European officials are under pressure to find new ways to stop the contagion spreads from Greece and Ireland amid concerns the rescue package may not be large enough to rescue Spain if necessary. While Sarkozy and Merkel rejected the extension of the fund on 25 November, the European Central Bank...

The yield on the 10-year Treasury reaches 3 percent of European debt concern fades

Treasury yields rose above 10 years of 3 percent for the first time since July, easing concerns that the European debt crisis would spread and most reports showed U.S. economic recovery at full steam. Public debt maturing in three years and older declined this week the Fed said the economy was strong in 10 of its 12 regions, such as recruitment of the improvement, expansion of manufacturing and provides stronger retail shopping season. A smaller increase than expected in November payrolls pushed bond yields lower than two years yesterday. Next week the Treasury Department to sell $ 66 billion in debt securities. "Concerns about the situation in Europe has receded some and economic data has generally been positive, resulting in higher rates," Michael Pond, co-head of interest rate strategy...

Trichet keeps the pressure from the EU and the ECB buys bonds to calm investors

The European Central Bank President Jean-Claude Trichet called on political leaders to do more to set their budgets as Spain stepped up measures to combat the threat of contagion. "We have the same message for all countries -" take all measures to ensure that next year's fiscal targets credible, '"he told RTL radio in Paris yesterday. Germany said that no ad hoc European Union negotiations are planned today or tomorrow in the current sovereign debt crisis in the region. European finance ministers have spent the last three weekends locked in talks on how to rescue crisis leave Ireland and the region plunged Spain debt. Spanish bonds with sinking...

Objectives of the UN to resume negotiations on Climate Change Amid Rift between rich and poor countries

United Nations sent today try to revive progress in the climate negotiations stalled, the issuance of a draft of the possible holding of the meeting to bridge the gap between rich and poor Margaret Mukahanana-Sangarwe, a Zimbabwean that keeps track of negotiations that could lead U.S. and developing nations in a new Treaty, shall deliver the document in Cancun, Mexico, in consultation with the delegates in the 193-nation talks. China, India, Brazil and Venezuela say the discussions are at risk because Japan, Russia and Canada have refused to sign up for a second round of cuts in emissions of greenhouse gases once the current written in the Kyoto Protocol expires in 2012. That discord may spread to other areas of the talks. "The result is at stake," said Todd Stern, the head of the U.S....

U.S. states and municipal sales scheduled debt approached the highest since 2005

U.S. states and municipal sales scheduled debt approached the highest since 2005 this week as issuers seek to use the federal subsidy Build America Bond program before the end of the year-end potential. The index 30-day visible supply of new municipal issues reached 26.3 billion U.S. dollars on 16 November, the highest since February 2005. The index fell to 17.6 billion U.S. dollars today. Of the $ 11,300,000,000 debt of states and local governments are offering this week, about 4.2 billion U.S. dollars are taxable Americas Building, the third most-since August 2009 . With these programs with federal support, which expires December 31 unless lawmakers agree to an extension, supply may increase, said Justin Hoogendoorn, bond strategist at BMO Capital Markets in Chicago. "It's not a normal...

Walter Power Agrees to $ 3.3 billion merger of Western Coal as production increases

Walter Energy Inc., a producer of the southern Appalachians carbon steel, agreed to buy Western Canada Coal Corp. for C $ 3,300,000,000 (3.3 billion) to add reserves and increase production of the commodity as prices rise. Walter Power offered C $ 11.50 per share in cash or 0.114 share Walter Energy companies said today in a joint statement. The agreement, with the unanimous approval of both boards, following a November 18 announcement that they were in exclusive talks. Mergers and acquisitions in the coal industry are increasing the demand for steel makers in China, the largest producer of the alloy, bidding up prices of raw materials. Prices of coke and steel, coal sold to Asia will rise 8 percent next quarter, according to UBS AG. "We love coking coal," said Ian Henderson, who manages...

Commodities rose & capping the biggest weekly gain since October 2009

Commodities rose, capping the biggest weekly gain since October 2009 as a worldwide shortage of cotton and wheat drove prices higher farm. The Thomson Reuters / Jefferies CRB Index of 19 commodities rose 4.06, or 1.3 percent, to close at 316.16, rising rally a week at 5 percent. Cotton was the biggest weekly rise in 39 years after India put limits on exports. Heavy rain is eroding the quality of wheat from Australia after a drought cut cereal production in Russia. The dollar fell against major currencies, increasing the attractiveness of investment in energy, metals and crops. Crude oil rose to a maximum of 25 months, and gold topped $ 1,400 an ounce. "The perfect storm of commodities continues another week," said Fain Shaffer, president of Infinity Trading Corp., a brokerage firm commodity...

Dar Al Arkan said that he could pay $ 2.1 billion debt without touching Bond Market

Dar Al Arkan Real Estate Development Co., Saudi Arabia's largest property company by market value, you pay 7.8 billion riyals (2.1 billion) of debt maturing in five years without touching the bond market Again, according to general manager. "We are at the foot of sound to manage all our debts," said Saud Al Gusaiyer in an interview in Riyadh on December 1. The loans are "nothing compared to our assets." Rental income from properties in Mecca, Medina and Riyadh will generate 300 million rials a year and the company plans to raise money through the sale of residential properties and land in its portfolio assets, although not fixed, Al Gusaiyer said. Dar Al Arkan has total assets worth 23 billion riyals, according to the balance of the third quarter. The debts included 3.75 billion Islamic...

Top Saudi shares most in four weeks as crude oil approaches $ 90 a barrel

Saudi Arabia shares, led by the petrochemical, rose the most in four weeks, after U.S. and European stocks rose in the week and oil prices rose to a 25-month high. Saudi Basic Industries Corp., the world's largest manufacturer of petrochemicals, and National Industrialization Co., the producer of petrochemicals known as Tasnee, rate of progress. The company's 146-stock index Tadawul gained 1.1 percent, the most since Nov. 6 at 6412.1, at 1:11 pm in Riyadh. "It is not surprising to see an opening in the Saudi market, especially in the petrochemical sector, given the strong performance of international equity markets and oil reaching nearly...

PayPal account restricted site WikiLeaks as world comes under scrutiny

PayPal Inc., the payment processor owned by eBay Inc., cut the current access to the website of whistleblowing WikiLeaks.org for violating the acceptable use policy. PayPal account suspended after the U.S. WikiLeaks said that activities were in violation of the law, a company spokesman. PayPal was not contacted by any government agency and took action on its own, the spokesman said. PayPal movement marks a new suspension of Wikileaks, which is the release of about 250,000 classified diplomatic cables to the U.S., France and the United Kingdom say that could endanger life. Amazon.com Inc. fell in the WikiLeaks website hosting service this week for breaching the terms of service. "PayPal has permanently restricted account used by Wikileaks, due to a violation of PayPal's Acceptable Use Policy,...

Blankenship Massey to retire Dec. 30, is replaced by Phillips, President

Massey Energy Co. CEO Don Blankenship will retire after 31 December, the company said in an emailed statement. President Baxter F. Massey Phillips Jr. will succeed as CEO, the company said. Blankenship, 60, has worked at Massey for 28 years and served as president and CEO since November 30, 2000, the Richmond, Virginia-based company said. Admiral Bobby Inman, 79, an independent lead director on the board of Massey, will become executive chairman. Last month, Massey, owner of the mine Upper Great Power in West Virginia, where 29 people died in April, said its board has ordered a review of strategic alternatives, a process that can lead to a sale. Blankenship became the face of the company in public disagreements with U.S. regulators after the mining accident. "We were surprised indeed to...

rising U.S Stocks this week

U.S. stocks rose this week, sending benchmark indexes to their biggest gains in a month, amid improved economic data and the efforts of the European central banks to contain the crisis in the region of the debt. Home Depot Inc. rose 8 percent, the biggest gain in the Dow Jones Industrial Average, as construction spending and home sales exceeded economists' estimates. Bank of America Corp. and JPMorgan Chase & Co. advanced at least 5.6 percent after Goldman Sachs Group Inc., recommends financial stocks. Abercrombie & Fitch Co. rose 16 percent, its biggest weekly advance since July, after same-store sales rose. 500 of Standard & Poor's rose 3 percent, to 1,224.71 within five days of yesterday, its biggest gain in four weeks. The Dow Jones rallied 290.09 points, or 2.6 percent,...

Canadian dollar advanced for the first time in four weeks

Canadian dollar advanced for the first time in four weeks, as evidence of a global economic recovery helped crude oil, the main export product of the country, rally to a maximum of two years. The Canadian dollar lost the currencies of other commodity producers such as Australia and Norway reports this week showed Canada added fewer jobs in November than economists forecast the U.S. unemployment rate unexpectedly rose. The Bank of Canada will refrain from increasing borrowing costs on Dec. 7, according to 12 economists surveyed by us. "The demand for Canadian dollar assets has led to the recent strength," wrote Shane Enright, executive director...

Euro Strengthens for First Time in a Month against Dollar

The euro rose against the dollar during the first week in a month as the European Central Bank moved to curb the spread of sovereign debt crises and economic data in China and Europe increased the demand for higher yielding assets. The common currency spent by a ramp earlier in the week, ECB President Jean-Claude Trichet, apply the measures of liquidity and the bank bought bonds to ease the concerns of some countries to pay their debts. Commodity currencies linked gained, with South African rand move more in nine months, as prices of raw materials rose. U.S. consumer confidence is at a maximum of six months, a survey may show next week. "The...

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