October 2011

AUD/USD Classical Technical Report 10.26

October 26, 2011

AUD/USD: Any rallies are classified as corrective, with the market still locked within a well defined downtrend. As such, we would expect to see the current bounce well capped below 1.0500 on a …

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AUD/USD Classical Technical Report 10.26

October 26, 2011

AUD/USD: Any rallies are classified as corrective, with the market still locked within a well defined downtrend. As such, we would expect to see the current bounce well capped below 1.0500 on a …

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AUD/USD Classical Technical Report 10.26

October 26, 2011

AUD/USD: Any rallies are classified as corrective, with the market still locked within a well defined downtrend. As such, we would expect to see the current bounce well capped below 1.0500 on a …

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USD/CHF Classical Technical Report 10.26

October 26, 2011

USD/CHF: The market is in the process of consolidating its latest sharp recovery out from record lows by 0.7000. Although there are some risks over the short-term for deeper setbacks, any declines …

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GBP/USD Classical Technical Report 10.26

October 26, 2011

GBP/USD: The market has been well bid since breaking the neckline of a double bottom at 1.5715, with rallies extending into the 1.6000 area thus far. The measured move objective for the pattern …

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USD/JPY Classical Technical Report 10.26

October 26, 2011

USD/JPY:Although the market remains largely confined to the 76.00’s, the recent break to fresh record lows below the figure suggests that we still could see additional weakness before any …

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EUR/USD Classical Technical Report 10.26

October 26, 2011

EUR/USD: At this point there are still no signs of let up, although we continue to classify the latest market rally out from 1.3145 as corrective. We contend that a fresh lower top will carve …

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Motorola to introduce upgraded Razr mobile

October 26, 2011

(MENAFN) Motorola Mobility’s International Retail Division’s Vice-President, Spiros Nikolakopoulos, said that the company would re-introduce the Razr mobile brand but with upgraded features, …

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Protesters Affiliated With Occupy Wall Street Disrupt Department Of Education Meeting

October 26, 2011

NEW YORK — When New York City schools Chancellor Dennis Walcott stood up to face a full Seward Park High School auditorium on the Lower East Side Tuesday evening, he found himself confronted by the shrill sound of the “people’s mic,” a consensus-building tactic that has become a hallmark of the Occupy Wall Street protests. “Mic check!” a group screamed the second Walcott started talking. “We invite anyone here to use the human mic to express their concerns … to save public education in our city,” an organizer yelled. The crowd repeated back each phrase. “If you want your voice heard, all you have to do is say ‘mic check.’” The approximately 200 protesters, loosely affiliated with a new public education committee offshoot of Occupy Wall Street , called for increased participation and democracy in education at a meeting originally organized to facilitate conversation with stakeholders about the New York City Department of Education’s new curriculum. “The true irony tonight is that this is about interacting with the panel,” Walcott said, trying to speak over the clamor in the auditorium at Seward, a building that now houses five schools instead of its original high school. “We appreciate the activism and look forward to having you participate.” Meanwhile, a teacher who had been excessed and is now assigned to a new school each week hollered, “I would like to tell the PEP [Panel for Educational Policy] how they are out of touch with teachers, parents and many administrators.” After the crowd repeated her statement, she continued, “The Common Core is out of touch.” New York is one of 45 states that have signed onto the Common Core , a shared set of school standards focused on depth of study. David Coleman, an architect of the standards, was the evening’s main attraction. “The Common Core is a state-led effort,” Coleman started over the din. “It attempts…” he said, before trailing off and turning to Walcott while a teacher shouted about being continually undermined. “I look forward to talking to you in a quieter situation,” Coleman said. At that point, the crowd — led by a union representing the city’s recently laid-off school aides — chanted, “Bring the workers back.” As Walcott invited parents interested in learning about the Common Core into smaller discussion groups to proceed with the evening’s program, Kelley Wolcott, a teacher and Occupy Wall Street participant, invited Walcott to participate in the next Occupy Wall Street General Assembly — what she called a “real discussion” — focused on public education in early November. Walcott declined. “For them to pick on this one is unfortunate,” Walcott told reporters, “because this is where we talk about what it [the Common Core] means for the system.” When asked whether he would address the protesters’ issues, he responded by saying, “I hear about mic check, but I don’t hear about the issues.” Teachers in the auditorium proceeded to air their grievances about class size, standardized tests, layoffs and the use of data to grade teachers. “They shut down Seward High School saying it had low reading scores despite the fact that 99 percent of its students were immigrants,” Mike Friedman, a former teacher, said into the people’s mic. “The students of New York City need a school system that’s responsive to their needs,” Occupy Wall Street protester and former New York teacher Justin Webes told The Huffington Post. “One person from one high could not be in touch with and responsive to all the needs of the 1.1 million school children here. … Occupy Wall Street serves as a platform to make their voices heard by overly influential corporate interests.” The PEP has too much power, said Rosie Frascella, a high school teacher in Prospect Park, Brooklyn. “This is the only place where the chancellor addresses the public, but the PEP is a farce. We feel that Chancellor Walcott and Mayor Bloomberg are the 1 percent, and that parents, students and teachers, we’re part of the 99 percent.” The group had organizational backing from the Grassroots Education Movement, the teacher aides’ union DC 37 and the New York Collective of Radical Educators. The United Federation of Teachers, which formally backed an earlier Occupy Wall Street march, did not officially throw its support behind the event. Teachers and education activists elsewhere have also used Occupy Wall Street to voice their complaints. Chad Loitz, an education student at Goddard College in Oregon, has been active in Occupy Eugene . Along with his colleagues, Loitz, an organizer with the Institute of Democratic Education in America, used the fervor of the Occupy Wall Street movement to galvanize concerns about education by starting a Tumblr blog called Occupy Edu. So far, 50 people — mostly teachers — have posted pictures of themselves holding signs explaining why they “occupy edu.” One teacher wrote, “I occupy education because I believe strong schools and strong teachers not corporate for-profit reformers makes Oregon and the nation strong!” As the crowd continued protesting in the auditorium, with two parents even wearing sock puppets to represent what they called Mayor Bloomberg’s “puppet” PEP, Coleman circulated between the classrooms, cramming his material into 10-minute sessions. In one classroom, he faced questions about the resources it would take to get students up to the elevated standards of Common Core. “The standards are an attempt to build a staircase to college readiness that is real,” Coleman told parents in the more subdued setting. Patrick Gunn, a parent of a P.S. 184 student, attended one of those sessions. “I came because I wanted to hear from Chancellor Walcott about some issues at my school,” he said, referring to the abrupt replacement of its principal. “I was surprised that the protesters took over the forum,” Gunn said. “It’s been my experience that there is not a dialogue at these meetings, it’s usually the DoE just talking to us. But it didn’t accomplish what I’d like to see happen. I want a dialogue. That protest was no more dialogue than what we’re used to.”

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Reynolds American Q3 profit drops 4% to USD367m

October 26, 2011

(MENAFN) Reynolds American Inc. said that as a result of charges related to legal cases and other costs, in the third quarter, net income dropped around 4 percent to USD367 million from USD381 …

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War mentality persists

October 26, 2011

(MENAFN – Jordan Times) In a White House statement on October 21, US President Barack Obama pledged that his country would finally withdraw forces from Iraq. “After nearly nine years, America’s war …

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Rajat Gupta Expected To Face Criminal Charges In Insider Trading Case: Source

October 26, 2011

Former Goldman Sachs director Rajat Gupta will surrender to the FBI on Wednesday to face criminal charges, a person familiar with the investigation said. Gupta was named as an unindicted co-conspirator in hedge fund founder Raj Rajaratnam’s trial earlier this year. He has denied wrongdoing. Rajaratnam was sentenced to 11-years in prison this month. Gupta’s attorney, Gary Naftalis, did not immediately respond to a call seeking comment. (Reporting by Basil Katz) Copyright 2011 Thomson Reuters. Click for Restrictions .

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ADX Energy Limited (ASX:ADX) Completed Sidi Dhaher-1 Rig Demobilization

October 26, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp ADX Energy Limited (ASX:ADX) is pleased to announce that following suspension to secure Sidi Dhaher-1 well the Challenger drilling rig has …

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Delegates from Over 50 Countries and Regions to Attend the Upcoming CHINA MINING Conference and Exhibition 2011

October 26, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Upon approval by the State Council, jointly hosted by the Ministry of Land & Resources and the Tianjin Municipal Government, and supported …

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Europe Ahead: The European Summit highlights the session today

October 26, 2011

The critical day has came, and today the European summit will reveal the leaders’ plan to overcome the debt crisis and the measures to quell jitters and rising debt woes, awaiting the …

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Toyota cuts output in Japan’s assembly plants

October 26, 2011

(MENAFN) Toyota Motor Corp. said that as a result of the floods that hit Thailand and disrupted supply chain, the automaker started to cut output at its group assembly plants in Japan, reported …

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Police arrest man who burned more than 100 cars

October 26, 2011

(MENAFN – Jordan Times) A man who set fire to more than 100 cars in Berlin, a wave of attacks blamed by some on political extremists, was motivated by envy and frustration, police who arrested him …

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Medvedev clashes with Putin… at badminton

October 26, 2011

(MENAFN – Jordan Times) Russia’s Dmitry Medvedev may be outgunned by political heavyweight Vladimir Putin with his macho judo and chest-baring antics, but on Monday he revealed a quieter passion – …

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Ohio dentist offers to buy back Halloween candy

October 26, 2011

(MENAFN – Jordan Times) An Ohio dentist is offering to buy kids’ trick-or-treating booty this Halloween, and he’s even throwing in a toothbrush to sweeten the deal. The Mansfield News Journal …

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Officers try to solve pumpkin patch crimes

October 26, 2011

(MENAFN – Jordan Times) Authorities are searching for whoever drove through two New Mexico pumpkin patches and caused $4,500 in damages just weeks before Halloween. Curry County deputies say …

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Man throws mom out of wedding

October 26, 2011

(MENAFN – Jordan Times) A Nevada man faces misdemeanour charges after authorities say he carried his mother out of a church when she arrived to stop his wedding. The Record-Courier reports …

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Supersize me! Restaurant offers 154kg burger

October 26, 2011

(MENAFN – Jordan Times) A Detroit-area restaurant has cooked up another giant burger. The Detroit News reports that Mallie’s Sports Grill & Bar in Southgate made a 154-kg “Absolutely Ridiculous …

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US DreamWorks Q3 net income down to USD19.7m

October 26, 2011

(MENAFN) DreamWorks Animation’s SKG Inc. CEO, Jeffrey Katzenberg, said that in the third quarter, net income slipped almost the double from USD39.8 million in 2010′s same period to USD19.7 million, …

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Amazon Q3 net income down 73%

October 26, 2011

(MENAFN) Amazon’s CFO, Tom Szkutak, said that as a result of higher spending on expansion, in the third quarter, the company’s net income dropped 73 percent to USD63 million from USD231 million in …

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Penny Herscher: Engineering Is the Way to Bring Jobs Back to America

October 26, 2011

We are facing an ongoing threat to America’s global economic leadership and increasing the number of engineers in our workforce is one powerful way we can change our destiny as a country. In Silicon Valley we have one engineering job open for every two engineers that are employed — this means it is hard to find enough qualified workers and so companies move jobs offshore to India and China where they graduate many more engineers than we do. Today we simply do not have enough people trained in the “STEM” areas to staff the technology build up that is happening globally (STEM — Science, Technology, Engineering and Manufacturing). When Steve Jobs met with President Obama earlier this year he made this case strongly. From Walter Isaacson’s new biography: Jobs went on to urge that a way be found to train more American engineers. Apple had 700,000 factory workers employed in China, he said, and that was because it needed 30,000 engineers on-site to support those workers. ‘You can’t find that many in America to hire,’ he said. These factory engineers did not have to be PhDs or geniuses; they simply needed to have basic engineering skills for manufacturing. Tech schools, community colleges, or trade schools could train them. ‘If you could educate those engineers,’ he said, ‘we could move more manufacturing plants here.’ But today not only do we not graduate enough engineers, women are a huge untapped resource. Less than 10% of our computer engineering graduates are women, and less than 20% of our total engineering bachelors are women — a criminal loss of potential contribution from half our workforce. Technology is an area that is a wonderful example of American leadership. Leadership, innovation and the place where we can say “Made in the USA” with pride. Google, Apple, Amazon and Facebook — all are growing, innovative global technology leaders. All are changing the world today in dramatic ways. All are essentially American and all need more engineers. Google and Microsoft both invest heavily in change agents like the Anita Borg Institute for Women and Technology precisely to change the ratio of men to women in engineering and so produce more qualified engineers to grow their businesses. Just as in the Second World War we had a national shortage of skilled workers for manufacturing, today we have a critical shortage of technology workers. Women and education are two keys to the solution. Seventy years ago the Rosie the Riveter campaign moved 6 million women into the workforce. These women were trained and they showed that they could do the work — building the planes, ships and munitions necessary to win a devastating war. Senator Gillibrand of New York talks about a revival of the Rosie the Riveter campaign to galvanize women to become more empowered and she speaks about the need for women to get Off The Sidelines . She’s right, and it’s bigger than politics. The low percentages of women who graduate with technology degrees in the U.S. shows the untapped resource. Getting women involved and into technology creates more jobs for both men and women in manufacturing and the ecosystem around the technology jobs. We are in the middle of a 100-year technology revolution, analogous to the Industrial Revolution that dramatically changed the Western way of life through the 18th and 19th centuries. This Technology Revolution is taking us through a series of technology innovations: the computer, the microprocessor, software applications, the internet, mobile devices and there is more to come we can only imagine. It’s time for Rosie the Engineer and Robert the Engineer. We need our political leadership to invest in STEM education, and especially for our girls to bring them into the technology field. It’s time to put programs in place to motivate our students to get technical degrees so they can get jobs when they graduate. We need engineers, the technology jobs pay more, and they create more jobs in America for everyone.

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Canadian Billionaire Arrested

October 26, 2011

LONDON – A Canadian billionaire with ties to powerful business and world leaders, including Bill Clinton and Tony Blair, has been arrested in Britain and is facing corruption charges. Victor Dahdaleh, 68, former president of the Canada-U.K. Chamber of Commerce and a McGill University benefactor, is alleged to have paid bribes to officials of an aluminium company in Bahrain between 2001 and 2005. Police allege that the payments were in connection with contracts with U.S. aluminum maker Alcoa Inc., for supplies of alumina shipped to Aluminium Bahrain, a smelting company with a majority state ownership. Dahdaleh, who was born in Jordan and holds dual Canadian and British citizenships, has denied any wrongdoing. “Mr. Dahdaleh believes the investigation into his affairs was flawed and that he has done absolutely nothing wrong,” his lawyers said in a statement Tuesday. “He will be vigorously contesting these charges at every stage, confident in clearing his good name.” The U.K. Serious Fraud Office, a British government department responsible for investigating and prosecuting serious and complex fraud, filed the charges against Dahdaleh on Monday. They include corruption, conspiracy to corrupt and acquiring and transferring criminal property. The agency says in a news release that they launched the investigation in July 2009 with assistance from London Police Overseas Anti-Corruption Unit and in co-operation with the U.S. Department of Justice and the Swiss authorities. Dahdaleh has been released on bail and is to appear in court on Oct. 31. According to his official website, Dahdaleh is the owner and chairman of Dadco, an investment, manufacturing and trading group with operations around the world. He is the governor of the London School of Economics and sits in the board of trustees of a number of non-profit organizations, including Clinton’s foundation, where he’s also listed as a donor.

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College Dropouts and Students Occupy Wall Street

October 25, 2011

NEW YORK — This past May, Audrey Hollingsworth had finally reached her limit. The rising debt and chronic joblessness among her friends, combined with the thought of personally plunking down $35,000 for another year at Warren Wilson College, was more than Hollingsworth could stomach. So, the 19-year-old, Lexington, Va., native dropped out. After a summer spent waiting tables, Hollingsworth boarded a bus to midtown Manhattan in mid-September with $4 in her pocket and no clear plan for what came next. On a whim, she ventured into lower Manhattan’s Zuccotti Park and set her sleeping bag down alongside dozens of other Occupy Wall Street protesters. And in the four weeks since, Hollingsworth hasn’t really left. “This is exactly the kind of experience I left school to go in search for,” said Hollingsworth, who doesn’t plan to venture home again until Thanksgiving. “In the past month, I’ve learned more about the world than I ever learned during an entire year of college.” Citing increasing amounts of student loan debt and rising rates of underemployment among their classmates, many college students have gravitated toward the Occupy Wall Street movement . While an estimated 150 campuses nationwide have staged formal protests and walkouts , another contingent also occupies Zuccotti Park — college dropouts who are voicing similar frustrations and worries about their own uncertain futures. George Machado, 20, is one. Machado, a philosophy and international relations major, dropped out of American University last spring with $53,000 in debt. If headed in a similar trajectory, Machado reasoned he would owe more than $200,000 in student loans come graduation day. Three weeks ago, Machado started sleeping in Zuccotti Park. At first, he wondered if it was merely a bunch of privileged kids posing as activists. But something about the sense of community quickly convinced him otherwise. “I’ve been waiting for this my whole life,” said Machado, who grew up in New York and believes that higher education should be free. “This is a revolution that’s been needing to happen and has finally begun. I’ve joined the revolution,” he said with a smile. Machado stood alongside his friend, Nicole Carty, who graduated from Brown University in May of 2010. The sociology major now works as an independent contractor, a position that includes neither benefits nor health insurance. Carty worries for the millions of well-educated young Americans unable to find decent-paying jobs. While Carty, 23, owes $14,000 in student loans, she can only afford $50 monthly payments. At that rate, including interest, she said she envisions paying off her student loans until she’s well into her eighties. Standing in the middle of Zuccotti Park on Tuesday morning, Jorden Eck and his friend passed out free slices of apple and pumpkin pie to passersby. Eck, a 20-year-old from upstate New York, dropped out of the State University of New York, Binghamton earlier this year after not being able to come up with enough tuition money to continue. Since dropping out of college, the only job Eck could find consisted of selling knives for Cutco, a cutlery vendor. Yesterday marked his 25th day of sleeping in the park. Despite the chillier temperatures that soon await, Eck vows to remain in Zuccotti Park until his demands are met. As for Hollingsworth, who plans to stay on until the end of November at least, she’s still weighing her future options. Finding a job figures prominently, as does the question of whether or not to reenroll in college at some point. Hollingsworth describes her upbringing as “solidly middle class,” with a father who worked as a financial planner. Her mother’s family operates a yarn shop and a blackberry farm on the outskirts of Lexington, Va. While her parents have expressed concern for their daughter’s safety, they’ve been generally supportive of her participation in the movement. For Hollingsworth, the fight over the affordability of higher education is one of the main reasons why she rearranges her sleeping bag each night. “Our parents always told us to go to college and that if we went to college, we’d get good jobs,” said Hollingsworth, who said she is anxiously awaiting the arrival of new tents later this week. “I’m guess I’m really just not so sure that’s going to happen anymore — and that’s why I’m still here.”

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Anya Kamenetz: Abolishing Student Loan Debt And Other #OccupyWallSt Demands

October 25, 2011

Student loan debt has become a defining issue of the Occupy Wall Street movement. The nation’s cumulative student loan debt surpassed our cumulative credit card debt in 2010, and is heading north of $1 trillion ; currently two-thirds of graduates take out loans, an average of $27,000 a head. The growth of this particular kind of debt makes young people furious. It’s a betrayal of the American social contract that says if you work hard and invest in yourself through education, you’ll be able to build a better life. In my first book, Generation Debt , I explored how we got here and told stories about the emotional and cultural impacts of student loans; lately, with DIY U and the free Edupunks’ Guide , I’ve been focusing more on the underlying issue of soaring college tuition and innovations that might be able to cut the cost spiral — not to mention the growing world of free and open education. These innovations are great, but they don’t help the graduates who are already saddled with so much debt. So here are some proposals to offer student borrowers relief that #OccupyWallSt could take up, ranked from the most radical to the more feasible. 1) Forgive all student loan debt. This idea has a Facebook page, a petition with 300,000 signatures, and it’s even been introduced in Congress . There are real fairness issues here because college graduates, even those with student loans are relatively more privileged with higher earning potential than non-college graduates. Still, if included as part of a radical call for bailing out the American people across the board — mortgages and credit card debt included — it has emotional resonance and could actually jumpstart the economy to boot. 1)a. You could help out those who most need it by canceling the student loan debt of non-graduates, defaulters, people who meet certain income requirements, or people who attended for-profits or other colleges with unacceptably low graduation rates (half of all student loan defaulters attend for-profits). See also: bankruptcy protection. 1)b. The radical direct action variation of this is for people to stage a debt revolt and simply stop paying their student loans. Advantage: Unlike with a mortgage or auto loan, they can’t repossess your brain. Disadvantage: You will never have credit again, and people in your life who have worked hard to pay off their own loans might see you as a deadbeat. 2) Rein in private student loans. Private student loans, those offered by banks like Citibank and Wells Fargo, are growing three times faste r than federal student loans. They are much more expensive, with higher fees and interest rates ranging up to 15%, varying by your creditworthiness. Private student loans could be abolished outright, or they could be required to offer the same interest rates and repayment options as federal student loans, which would severely restrict their availability. If we don’t do something to tame the private student loan beast, it doesn’t much matter what happens with federal student loans — the volume of private loans is set to outpace the volume of public loans by 2025, according to Mark Kantrowitz of finaid.org. 3) Reinstate bankruptcy for student loans. Student loans are unlike any other kind of debt in that they are almost impossible to discharge in bankruptcy, barring permanent disability. For federal loans, the government can garnish your wages, seize your tax refund, your federal disaster relief payments, and even your Social Security . Even private, unsubsidized student loans, the ones with 10 and 15% interest rates, have been nondischargeable in bankruptcy since 2005. Alan Collinge of Student Loan Justice has been organizing on this issue for several years. Bankruptcy protection has failed three times in Congress; there are currently bills in the House (sponsored by Rep. Steve Cohen of TN) and Senate (sponsored by Sen. Durbin) This is an issue of basic fairness. There’s no reason to treat student loan debt so differently from other types of debt, other than as a gift to the banks. 4) Expand Income-Based Repayment and Public Service Loan Forgiveness . Depending on how much you make and how much you owe, you have the right to lower your monthly payments on FFELP and direct student loans through Income-Based Repayment . President Obama just announced that he’s accelerating access to the plan so that graduates can pay just 10% of their income, with all loans forgiven after 20 years. Meanwhile, people who work in the military, for the government, for nonprofits, police, firefighters, teachers, social workers, have the right to have loans completely forgiven after 10 years of repayments. One issue with these programs is simply that they’re undersubscribed. Another is that you may end up paying more by stretching out the payments, and you’re harnessed to that payment for 20 years. But they’re a hell of a lot better than default, and in the absence of bankruptcy protection, they’re the least bad option for people currently facing unsupportable student loan debt.

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Susan Seitel: Creating Organizational Wellness

October 25, 2011

We’ve changed our focus from work-life to organizational wellness. Why? Because we think those two words are now key to workplace success. What do they really mean? Here’s how researcher and consultant Dr. Joel Bennett explains the term: “Traditionally, a lot of energy goes into treating individual employees, while neglecting the health of the organization as a whole. We do a good job of treating an individual, and then we send him or her right back to a ‘sick workplace’… a place with low morale, negative supervision, or poor safety, for example. Instead of treating just the trees … organizational wellness looks at treating the entire forest.” We agree. While work-life looks at helping employees be successful in all areas of their lives, and traditional health and wellness looks at caring for the health of individuals, organizational wellness looks at creating a different kind of health — a healthy and successful workplace — one where employees are engaged, satisfied, productive and effective, and the organization accomplishes its goals. If you happen to be a manager who wants that for your organization, we’re suggesting you concentrate your efforts on six components. Here they are, along with a few suggestions for using each to make positive changes. 1. Stress reduction and resilience Hold a series of focus groups or small group lunch ‘n’ learns with your staff on the subject of stress and resilience, asking these questions for starters: How high is your stress level? How is your work contributing to your stress level? What can we do as an organization or as a business unit to help you alleviate stress? Look at relationships, work demands, career and development, control, management practices and individual characteristics. Take a closer look at your own qualities as a manager. Rate yourself on a scale of 10, with 10 being the highest, in each of the following areas: trust; expressions of appreciation; rewards; interest in employees as human beings; career opportunities; and development and training. Examine workloads. Do you feel pressured to demand more work from your staff than you know is reasonable? Meet with your staff in teams to discuss how the work might be redesigned and duplicative tasks eliminated in order to lighten the workload. Offer our stress-reduction training, “From Stress to Resilience.” 2. Work-life integration Ask your staff how they would rate your organization in the area of work-life balance. Ask for five suggestions for improvement and implement as many of them as you have the power to do. Check to make sure your organization offers resources for the care of ill dependents. Ask your staff if they’re aware of other programs offered by other employers that your organization might offer. When major tasks are assigned, check to make sure the scheduling works for the employee. Ask if any personal issues are likely to present a conflict, and if so, be willing to work creatively to resolve the conflict. Let your staff know that you’re aware that they are human beings, with full lives outside of work and important personal responsibilities to handle. Begin to notice how you approach situations that involve conflicts between work and personal life. Resolve to give employees’ personal responsibilities more respect. 3. Supportive management Begin to ask employees for input and feedback before making decisions that would affect their work. Bring up the topic of respect in a staff meeting and tell your employees of your intention that people, including you, will treat each other with respect. Discuss what that would look like. Ask your staff to assess whether you have shown respect for their ability to handle personal responsibilities, and put their feedback to work in your management style. Give positive feedback often. Acknowledge at least two employees daily for jobs well-done. Express confidence in your staff’s abilities, both generally and specifically. Encourage independence. Help employees learn from their mistakes, encourage them to make decisions on their own. Clarify goals, make sure they have the necessary training and expertise, be available to answer questions, and let them do the work themselves from start to finish. 4. Flexibility and telework Make sure all your employees are aware of and understand all the flexible work arrangements that are available in your organization. If flexible work arrangements are new to your staff, create at least two pilot projects to test how goals might be accomplished working flexibly. Begin to manage as though flexible work arrangements are business strategies that can help you meet your organization’s goals. Let your staff know that you are now open to proposals for flexible or remote work arrangements. Set clear, measurable goals that will make it possible for staff members to work flexible or remote work arrangements. Take your eye off the clock and put it on results, and request that your employees do the same. 5. Organizational values alignment Determine whether areas like work-life, wellness and flexible work arrangements are represented in your organization’s core values. If not, create your own set of core values in which they are represented and let your staff know these are your core values. Ask your staff to list what’s most important to them and then help you link their lists to the organization’s values. List the behaviors you feel are most critical to supporting your organization’s core values. Present the list to your staff, asking them to assess how well they exemplify these behaviors. Ask them for a commitment to improve in areas they agree need strengthening. Examine your performance appraisal system and make sure it’s aligned with your organization’s core values. 6. Results-focused performance management Make a commitment to managing by results. Create a pilot project if the concept is new to you. Work with each employee to make sure he/she is clear about the results they’re intended to produce, and how they (and you) will know success when you see it. Be sure they have the tools and training needed to do their job well and the autonomy to make their own decisions. Meet with each employee involved, and together, determine the desired results and the most appropriate way to measure them, considering coworker surveys, customer surveys, other external sources or internal systems that track transactions. Determine with each employee the kind of support they may need to be successful and how often meetings and communication should take place. Keep an ongoing work plan that will allow employees to see where they stand relative to expectations. Make sure there’s a payoff for employees who meet their goals and fulfill expectations. That’s it. From time to time we’ll use this blog to make other suggestions. And if you have any that have worked for you that you’d be willing to share, please let me know — Susan@wfcresources.com.

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Richard Stacy: Why Lack of Social Consent Could Kill Facebook or Google

October 25, 2011

I am willing to bet that when the chaps at Goldman Sachs sat down to value Facebook, they didn’t spend too much time worrying about social consent (in fact, the chaps at Goldman Sachs have proven themselves rather adept at flying in the face of social consent). However, they should have done, and here is why. Traditional media had social consent. There was a basic social contract between the providers of information and the consumers of that information which went something like this: “We know that running newspapers, publishing books or operating TV stations is expensive and so, if we want to have these things, we know we need to pay for them — either directly or by allowing the content to be interrupted by advertising.” The economics of this contract were not driven by the cost of producing the content (as we often think) but by the costs of distributing it. It was only because distribution was expensive that it was necessary to fill its’ precious channels with equally precious content (i.e. content of mass appeal). But the world of social media is different. Distribution now costs virtually nothing and, in the case of Google and Facebook, the content is produced by other people. What kind of social deal should govern this situation? Google and Facebook would say that the deal here is zero price — it doesn’t cost you to use our services, and the advertising is both much less intrusive and also much more relevant. That seems like a pretty fair deal, but is it really? For this to be a fair deal, what we give has to be balanced by what we receive. Looking at what we give, the assumption, as per the Google and Facebook response, is that we give very little. However, this is not true. Through our usage of tools like Facebook and Google, we give away huge amounts of information about ourselves and we are only just starting to work out the value and implications of this gift. If you want the details on this, read The Filter Bubble by Eli Pariser . This presents a fantastic and slightly frightening look at this hugely important subject. Did you know, for example, that your Facebook friends could affect your ability to get a loan? I didn’t, until I read Eli’s book. But the key point here is that what we give Facebook and Google is very valuable, far more valuable that we (possibly even they) realize. This could be fine, provided that this is balanced by what Facebook and Google give us in return. Putting a value on this is a more tricky question, but the answer is to be found in the work of the 19th century economist David Ricardo . He proved that in a functioning market environment, organizations cannot make super-profits and the reason for this is linked to the relationship between marginal costs and marginal revenue (basically, they both have to be in the same ball-park). Well, neither Facebook or Google are making super-profits, so why is this relevant to determining the value of what they deliver to their users? Possibly one of the most profound remarks ever said about social media and money was by Craig Newmark , founder of Craigslist. When asked why he wasn’t making billions, he simply replied “I don’t need that much money.” He may have said this because he, personally, didn’t need that much money, but his words cover a more fundamental business truth. He literally didn’t need that much money. He had replaced a machine costing and generating billions of dollars (regional advertising in the U.S.) with something than required only a few geeks and some server space. And here is the thing: what is Facebook if not some geeks and server space? Going back to Ricardo, what is the true marginal cost of adding an additional Facebook user, and thus what are the boundaries of its’ permitted marginal revenue, assuming that it operates in a functioning market? The numbers on Facebook are moving so rapidly, but let’s assume that Facebook has estimated revenues in 2011 of $4.2 billion and this corresponded to something in the order of 800 million users . This gives us an estimate of marginal revenue of around $5.25 per user. Are we seriously being asked to believe that it therefore costs Facebook something of this order to add and service each additional user? Or to put it another way, are Facebook’s costs rising by this amount as it grows? No, would be the answer. Facebook is possibly growing at around 300,000 users per day, but its costs cannot also be increasing by $1.5 million per day. Of course, Facebook has many costs beyond that of simply providing the geeks and server space, but these are costs it has chosen to add in order to support the business model it has decided to pursue (and the valuation the chaps at Goldman have put on it), they are not related to the costs of actually providing the service the users want. Also bear in mind that most of the geeks are not busy improving the service to users, they are developing services that make it more attractive to brands. To return to Craig – “being Facebook” does not actually need that much money. As David Ricardo would have put it, Facebook is already making unsustainable levels of profit, albeit its’ books and business operations don’t allow us to see this at present (hence why Goldman Sachs places a value on the business that assumes its ability to generate profits is going to increase dramatically). This will only become apparent when Facebook users wake up to the inequality in their relationship with it, probably as part of a much broader re-negotiation of the social contract with social media. And this won’t result in them demanding that Facebook give them more, but that it takes less. The catalyst for this will probably be the emergence of a competitor in the space that says “Hey guys, we can give you everything (x social network or tool) does without having to sell information about you (because we don’t need that much money).” Facebook’s only defense against this is to try to colonize so much territory that it can hinder the emergence of any such competition — probably by buying them in the first instance. Google is basically doing the same, although its position is a little different. Google is already in the business of giving us more — it gives us all the tools of Google World, which are subsidized by the super-profits it generates from search (and thus disguises the extent of this super-profitability) — albeit these tools are increasingly designed and promoted according to their ability to extract data from us. Social media is a bit like the Wild West. Everyone is trying to seize the territory before the wagon trains of civilized society and attendant rules of behavior roll into town. But those wagon trains will arrive, and when they do, Facebook, Google et al. will have to establish a social license to operate, and this is likely to involve creating a very different business model based on a world where people attach much greater value to the data they decide to share. And that is why the clever chaps at Goldman Sachs need to understand the concept of social consent (or, alternatively study the work of David Ricardo). P.S. If you want a more extensive take on this same theme, you can get this here .

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Amazon Stock Tumble On Earnings Report

October 25, 2011

SAN FRANCISCO — Online retailer Amazon is spending a lot to grow its business, and while this will eventually help its bottom line it’s currently costing the company on Wall Street. The Seattle-based company’s earnings fell short of analyst expectations Tuesday, sinking 73 percent despite revenue growth as Amazon built sales fulfillment centers at a rapid clip this year. And its revenue outlook for the current quarter failed to impress investors. Its stock fell nearly 18 percent in after-hours trading. Amazon.com Inc. earned $63 million, or 14 cents per share, in the third quarter. This compares with $231 million, or 51 cents per share, a year earlier. Analysts polled by FactSet had hoped for much more: 24 cents per share in net income. Revenue climbed 44 percent to $10.9 billion, in line with the nearly $11 billion analyst were looking for. The company’s media business, which includes products like books, CDs and DVDs, saw revenue rise 24 percent to $4.2 billion. Amazon’s revenue from electronics and other general merchandise rose 59 percent to $6.3 billion. But Amazon’s operating expenses also climbed, rising 48 percent to $10.8 billion. The increase came mainly from a higher cost of sales. This is the third consecutive quarter in which Amazon’s expenses have cut into its bottom line. To support its growing business, Amazon has built more than a dozen fulfillment centers this year. This ensures that the company can keep up as more people order everything from stuffed animals and power tools from the online retailer. “You have to go back to year 2000 to see those kind of growth rates,” Chief Financial Officer Tom Szkutak said during a conference call with reporters. Amazon CEO Jeff Bezos also gave some details about the health of the company’s family of Kindle e-readers. In Amazon’s earnings release, Bezos said that Sept. 28 was the Kindle’s “biggest order day ever.” That day, Amazon trotted out several new Kindle models, including its first-ever tablet computer, the $199 Kindle Fire. Amazon began selling a $79 model and took advance orders for others. The Fire, which will begin shipping in November, is Amazon’s answer to Apple’s popular iPad. Amazon sees the Kindles as a way to catalyze even more sales of the digital content it sells. Bezos said advance orders for the Fire are so high that Amazon is making “millions more” than it had intended, and orders for other models since Sept. 28 have been double what it was for the company’s last launch of a Kindle device. As in the past, Amazon did not give any specific details about its Kindle sales. For the holiday quarter – a period that is usually the best for retailers – Amazon expects revenue of $16.5 billion to $18.7 billion. Analysts are looking for $18.1 billion in revenue. Amazon’s stock sank $42.31, or 17.8 percent, to $195.30 in after-hours trading. The stock had fallen $10.46, or 4.4 percent, to finish regular trading at $227.15.

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IBM Gets First Female CEO

October 25, 2011

SAN FRANCISCO — IBM Corp. ushered in Virginia Rometty as the company’s first-ever female CEO on Tuesday, as Sam Palmisano stepped down from the position. Palmisano, who turned 60 this year, has been CEO for nearly a decade. He will stay on as chairman. Virginia “Ginni” Rometty, 54, is in charge of IBM’s sales and marketing, and has long been whispered about by industry watchers as Palmisano’s likely heir. With Rometty’s appointment, effective Jan. 1, women will be in charge of two of the world’s largest technology companies. Last month, Meg Whitman was named CEO of Hewlett-Packard Co. Whitman joined eBay Inc. when it was a fledgling startup during the dot-com boom and guided it to become an Internet auction powerhouse and later ran for California governor. While Whitman’s HP is a sprawling company in disarray, Rometty will inherit a finely tuned IBM whose focus on the high-margin businesses of technology services and software has helped it thrive. IBM’s move was unexpected. Palmisano had tamped down earlier talk of his retirement, insisting that he wanted to stay on as chief. In rare public comments, he said last year that he was “not going anywhere” and that there’s no formal policy at IBM dictating when a CEO should retire. Palmisano in a statement said that Rometty has led some of IBM’s most important businesses, and was instrumental in the formation of IBM’s business services division. She oversaw IBM’s $3.5 billion purchase of PricewaterhouseCoopers’ consulting business in 2002, which is a key element of a strategy that has made IBM a heavily copied company. She is “more than a superb operational executive,” Palmisano said. “She brings to the role of CEO a unique combination of vision, client focus, unrelenting drive, and passion for IBMers and the company’s future,” Palmisano said. “I know the board agrees with me that Ginni is the ideal CEO to lead IBM into its second century.” Investors had liked the idea of Palmisano staying at the helm. IBM shares fell $1.59, or 0.9 percent, to $178.77 in extended trading, after the change was announced.

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Robert Reich: Why We Shouldn’t Be Selling the Right to Live in America

October 25, 2011

America is having a fire sale. Why not sell wealthy foreigners the right to live here, too? That’s the notion behind a bill introduced last week by Republican Senator Mike Lee of Utah and Democrat Senator Charles Schumer of New York: Stoke demand for American homes by allowing foreign nationals to buy them. In return, give foreigners the right to live here (although not work here). The price? At least $500,000 cash. It could be one piece of real estate costing $500,000 or more, or several, of one would have to be worth at least $250,000. Presumably, this would help homeowners by boosting demand. “This is a way to create more demand without costing the federal government a nickel,” Schumer told the Wall Street Journal . And it would help the street. Rather than have the big banks carry all those non-performing mortgage loans on their books or be forced to write them down, we’ll just goose the housing market by selling off the right to live in America. And the measure wouldn’t allow in the world’s riff-raff, because buyers would have to be rich enough to pay cash, and live here six months a year without working. Realtors love it. Says Glenn Kelman, CEO of Redfin, an online brokerage firm, “when property values sag and this is a desirable place to live, one of the simplest solutions is just to let more people in so they can buy the homes.” In Seattle, where Kelman lives, housing prices have slumped — as they have all over America. But Vancouver, Canada — just 140 miles to the north — is enjoying a housing boom because Canada allows foreigners to buy their way into Canada, just as the Lee-Schumer bill would do here. But wait a minute. Rich foreigner buyers may be a boon to American homeowners looking to sell, because those homeowners can’t find Americans willing and able to fork over as much money as the sellers would like. But what about American home buyers — many of them young, just entering the market — who would prefer low home prices that aren’t bid upward by rich foreigners? It’s not altogether obvious why we should favor American homeowners over American home buyers. The visa-for-home swap proposal also comes at exactly the same time the nation is actively closing its doors to foreigners who aren’t wealthy. Is this what America is all about? Policy makers have tightened eligibility for entering the country legally. Student visas are harder to obtain. Family members are waiting years to become resident aliens. Green cards are in short supply. Meanwhile, many states are doing whatever they can to make immigrants — mostly poor, but legal as well as illegal — feel unwelcome. For example, Alabama and Arizona allow police to demand “papers, please” from anyone they suspect may be undocumented (read: anyone who looks Hispanic). Alabama requires public schools to demand documentation from parents of all children in K-12 programs. The nation is expelling record numbers of undocumented workers. Over the last year (from October 1, 2010 to October 31, 2011), almost 400,000 people were deported – the largest number in the history of the Federal Immigration and Customs Enforcement Agency. Annual deportations have increased 400 percent since 1996. Some of these people committed criminal acts in the United States but a significant number simply overstayed their visas. Others had been in America for decades, working and raising their families here. Some had even been here legally but had no opportunity to defend themselves. A recent report by my colleagues at the Berkeley Law School notes that many immigrants “are pushed rapidly through the system without appropriate checks or opportunities to challenge their detention and/or deportation.” If the Schumer-Lee bill becomes law, the easiest way for a foreigner to live in America will be to plunk down $500,000 for a piece of property. Maybe we should rewrite Emma Lazarus’s words on the Statue of Liberty: Give us your richest, fattest cats, Your highest net-worth, seeking pleasure domes, Your wealthy heirs and pampered brats. Send these, with a half-million to buy our homes, And gild our fading door mats. — Robert Reich is the author of Aftershock: The Next Economy and America’s Future , now in bookstores. This post originally appeared at RobertReich.org .

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Steven Strauss: Actually Tax Cuts Don’t Seem to Have Much Impact on Economic Growth…

October 25, 2011

It has been something of an article of faith among conservatives that the solution to America’s problems is in smaller government and lower tax rates. The argument on taxes goes something like: ‘We need to unleash the wealth creators, who stimulated by the prospect of more income (due to lower tax rates), will create wealth for all of us.’ And, that any tax increase — for even the wealthiest taxpayers — would have catastrophic consequences. Actually the post World War II American economy provides a nice empirical test of this hypothesis — the maximum marginal income tax rate gradually declined from about 90% to about 35%. Shouldn’t this decline have lead to an explosion of economic growth as our wealth creators were unleashed? Sorry, Sarah Palin… it didn’t. During the ultra high tax 1950s (top marginal income tax rate of 90%), the United States had some of its best real economic growth (over 4%/year). And, for the decade where we had our lowest marginal income tax rates — we had our worst real economic growth (about 1.5%/year). (See Table 1 below.) So what happened? Well, first of all (Spoiler Alert! The following will upset ideologues!), the real world is complicated. Taxes are one part of the American economy, but by no means the only driver of our decision making process. People are motivated by lots of things — not just money. In all the recent discussions about Steve Jobs, I can’t recall a single quote, anecdote or story that suggested income tax rates had any influence on Steve Jobs’ behavior. Does anyone really believe that if US income tax rates had been slightly higher Bill Gates would have founded Microsoft in Singapore (or some other low tax center)? As another example — Warren Buffet, who has been an active investor from the 1950s to today, certainly could have moved offshore when tax rates were higher. He didn’t. Also, keep in mind that economic growth is not driven just by entrepreneurs and their hard work (okay, I’ve now simultaneously infuriated both the left and the right). In the 1950s, the global economy was emerging from World War II and the United States was the only industrial economy relatively unscathed. With better policies (arguably, the then current 90% tax rate was too high), we might have had even higher economic growth rates in the 1950s. But, our strong economic growth throughout the 1950s was helped by a strong tail wind (from outside the US). In the early 21st century, we suffered relatively anemic economic growth (despite much lower tax rates), but we also faced a far more competitive world and a disastrous real estate bubble. It is not clear that lower income tax rates would have had much impact. But higher income tax rates and other policy adjustments might have avoided the real estate bubble from which we are now recovering. Finally and most importantly, it is not just how the money is raised, but how it is spent. Tax revenues that improve infrastructure, and pay for basic research and education are investments in our future, and will foster economic growth. Tax cuts that primarily favor high end consumers might stimulate the purchase of luxury goods (McMansion anyone?), but may not contribute much to overall economic growth. My point, and I do have one — is that ideology is a poor substitute for pragmatic approaches to complicated problems. In fact the evidence that tax rates influence economic growth in any way is equivocal at best. A myriad of other factors are involved. Simply reducing tax rates, and primarily for the wealthy, may hinder — rather than enhance our economic recovery. Table 1: Comparison of mean marginal tax rates and mean real GDP growth rate Steven Strauss was the founding Managing Director of the Center for Economic Transformation at the New York City Economic Development Corporation. He will be an Advanced Leadership Fellow at Harvard University for 2011-2012. He has also worked as a management consultant for McKinsey and has a Ph.D. in Management from Yale University. You can follow him on Twitter @steven_strauss. Sources: The real GDP growth rates are from www.wolframalpha.com ; the income tax rates are from the National Taxpayers Union.

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IMF Sees Korea’s Debt Will Drop to Pre-Crisis Level in 2012

October 25, 2011

(MENAFN – Qatar News Agency) The International Monetary Fund (IMF) predicts South Korea’s national debt is expected to fall to the level of before the 2008 global financial crisis in 2012, the …

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S. Korea, Indonesia Agree to Seek Free Trade Deal

October 25, 2011

(MENAFN – Qatar News Agency) South Korea and Indonesia agreed to significantly boost their economic ties, a move that will include the signing of a free trade deal at an early date, the Seoul …

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Oil Rises Above $88 in Asia

October 25, 2011

(MENAFN – Qatar News Agency) Oil prices rose above $88 a barrel Monday in Asia amid signs of resilience in the economies of Japan and China. Benchmark crude for December delivery was up 65 cents …

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US Kaiser Aluminum Q3 net profit down 20%

October 25, 2011

(MENAFN) Kaiser Aluminum Corp. said that due to seasonal weakness and one-time items, in the third-quarter, the company’s net profit dropped 20 percent to USD4.4 million compared with USD5.5 million …

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EU Pressure on Italy in Eurozone Struggle

October 25, 2011

(MENAFN – Qatar News Agency) Germany and France have turned on Italy to demand further action to boost growth and reduce its huge debt, as leaders of the eurozone struggled to agree on how to boost …

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Japanese stocks rise 1.3% Monday morning

October 25, 2011

(MENAFN – Saudi Press Agency) Japanese stocks rose 1.3 per cent Monday morning as investor sentiment was lifted by rallies on Wall Street and hopes for handling Europe’s debt problems. The …

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Japan exports up 2.4% in September

October 25, 2011

(MENAFN – Saudi Press Agency) Japan’s exports climbed 2.4 per cent in September from a year earlier to 5.98 trillion yen (US$78.4 Billion), a sign of recovery from the March earthquake and tsunami, …

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Indonesia, South Korea agree to seek free date deal

October 25, 2011

(MENAFN – Saudi Press Agency) South Korea and Indonesia agreed to significantly boost their economic ties, a move that will include the signing of a free trade deal at an early date, the Seoul …

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EU hopes, China data buoy stocks, commodities

October 25, 2011

(MENAFN – Saudi Press Agency) Global stocks hit a seven-week high on Monday and commodity prices rallied on optimism European leaders were moving closer to resolving their debt crisis, while Chinese …

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IMF positive on Ghana outlook but warns on finances

October 25, 2011

(MENAFN – Saudi Press Agency) The International Monetary Fund hailed the medium-term outlook for Ghana’s oil-fueled economy as positive on Monday, but warned it would have to rein in public finances …

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Asian Activities Report for October 26, 2011: Enterprise Metals (ASX:ENT) Applies for Five Uranium Exploration Licences in Western Australia

October 25, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Enterprise Metals Limited (ASX:ENT) has lodged five new exploration licence applications for the the Ponton Uranium Project in Western …

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CPI in Australia shows a slowing inflation that may lead to more cuts in interest rates

October 25, 2011

Deflation risks increased in Australia after consumer prices showed a slowing inflation today on the yearly record. The Reserve Bank of Australia is expected that deflation risks will be witnessed …

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US United Continental Holdings raises tickets prices

October 25, 2011

(MENAFN) US United Continental Holdings’ Inc. spokesman said that both United Airlines and Continental Airlines raised tickets prices by USD2, USD3 and USD5 for each way, reported AP. The …

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China’s BYD launches headquarters in LA

October 25, 2011

(MENAFN) China’s BYD Chairman, Wang Chuanfu, said that the country’s largest global high-tech green company launched its branch in Los Angeles (LA), California, to represent the firm’s headquarters …

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Swiss Novartis plans 2,000 jobs cut

October 25, 2011

(MENAFN) Swiss Novartis AG said it is mulling 2,000 jobs cut in Switzerland and US and increase employees number in China and India to offset the effect of drug-price reductions, Bloomberg …

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US DuPont Q3 net income jumps 23%

October 25, 2011

(MENAFN) US DuPont Co. said that due to the surge in titanium-dioxide pigment’s prices, in the third quarter, net income hiked 23 percent to USD452 million, compared with USD367 million in 2010′s …

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