| CFFEX approves 13 new members
The China Financial Futures Exchange (CFFEX) announced the fourth group of members on Monday. Including the 13 new members, the total number of CFFEX member brokers is now 52, accounting for about one third of all of China's futures brokers. Analysts believe continuous expansion of the membership indicates accelerated preparations for the launch of the country's first financial futures products based on the CSI 300 index. Two of the 13 new members - Donghai and Everbright - have been granted full clearing rights . Six of them are trading and clearing brokers: Topwin, Henan Wanda, Haitong, Shanghai Tonglian, Shanghai Zhonggu, and China Merchants. Five are trading members: Chuangyuan, Hengyin, SC, Zhujiang and Zhejiang Tiandi. As of yesterday, of the total 52 CFFEX members, seven are full clearing brokers, 27 are trading and clearing brokers, and 18 are trading members.
PGI, GMCH docs to go on strike today
The idea behind installation of solar red lights is wonderful at the roundabouts of Sector 21-22, Sector 34-35 and other places. This has given some kind of relief to the commuters from the frequent traffic snarls. The network of slip roads too is a welcome step to streamline the flow of traffic. A lot more needs to be done to end traffic chaos on the City Beautiful roads. Beast of burden The other day, a horse buckled down under the weight of its cart overloaded with goods at the Modella intersection. Before passersby could rush to the animals help, the cart overturned, scattering the goods in the middle of the road. Thankfully, both horse and horsewala escaped unhurt. But horsewala went away scot-free as the cops chose not to take any action. Nothing serves to spur the police to take action against such beastly men.
Asian Stocks Hit; Goldman Warns Of US Recession
Asian shares fell on Thursday on worries about global growth after Goldman Sachs forecast a U.S. recession this year, while bond prices hit a two-year high and the dollar gained against sterling. But financial bookmakers forecast a strong start for European stocks, with Paris' blue-chip CAC-40 seen up between 46 to 54 points and Britain's FTSE 100 expected to add 37 to 41 points after late gains on Wall Street on Wednesday. Oil prices edged up in Asia after falling during the U.S. day on the Goldman Sachs report of a looming U.S. recession that could crimp demand in the world's largest energy consumer. The dollar held near a nine-month high against sterling on expectations of a rate cut by the Bank of England later in the day amid growing concerns about the global economic outlook.
'Fast Money' Recap: Stocks Gyrate Wildly
Wall Street experienced some wild swings on Wednesday, with the Dow Jones Industrial Average swinging 600 points. The Dow finished the day up 298 points and the Nasdaq closed up 24 points. Pete Najarian said the rally Wednesday was due to the prospect of a government bailout of the bond insurers and rumors of a rate cut out of the European Central Bank. He says the markets will remain volatile for the next couple of weeks. According to Jeff Macke, now is the right time to buy the financials and retailers for a trade. Guy Adami agreed with Macke on the financials, and he explained that investors can't fight the Fed. Karen Finerman said she had a fun day Wednesday. She disclosed she bought AltriaMO and FlowserveFLS in the morning after both stocks were knocked down hard. GoogleGOOG and AppleAAPL plunged as the Nasdaq traded higher Wednesday.
July 2006
Israel, obviously, is but a small dot in the center of a large Arabian circle, a threat to nobody who leaves her alone. Israel, on the other hand, lives in constant peril because of a few general reasons: Hate, the proliferation of advanced technology, distance and demographics. Hatred of Jews is still openly taught in Arabia. The relationships among Russia, North Korea, China, Iran and Syria suggest that the weapons technology, including long-range missiles, possessed by one is potentially available to all – at a price. Russia and China are nuclear powers; Iran, with the help of Russia and China, may soon be; Syria wants to be. Tel Aviv (Israel) is 990 miles from Teheran (Iran), 135 miles from Damascus (Syria) and 135 miles from Beirut (Lebanon). In terms of missile range, these distances are short hops.
Coming Soon: SR to Release E-mail Exchanges ... (Not so fast...)
I took the long trip home along the freeways to Pocatello (lots of Oregon Trail history), up to Idaho Falls (east side of Craters of the Moon), up through the thriving metropolis of Dubois and into Montana. Great Country. Mebbe. But I dont see many North Idahoans lining up to move to Twin Falls or Pocatello. DFO: It struck me this afternoon that I should give you a preview of tomorrow morning's print Huckleberries. .
Walking, Talking iRobot
Alas, the farther I read, the more obvious it became that we'll have to settle for walking, because that's pretty much the pace iRobot set. As it previously advised (twice, actually), iRobot beat expectations in 2007. Helped by beaucoup sales through retail outlets such as Best Buy (NYSE: BBY), Target (NYSE: TGT), and Sears Holdings' (NYSE: SHLD) stores, Roomba unit sales boomed last year, rising 24% for the 12 months. Unfortunately, as quickly as sales grew, gross profit rose a mere 18%, and gross margins contracted to 33%, well below the fiscal 2006 level. Part of the problem was higher costs for components. As for the margin contraction, you can look to the same actors who helped drive sales higher -- the retailers. Given its druthers, iRobot prefers to sell Roombas directly to consumers.
Manila rate cut hopes dim, liquidity mop-up continues
The Bangko Sentral ng Pilipinas signalled on Tuesday interest rates would remain on hold next month as price pressures are set to peak in the second quarter and strong foreign exchange inflows risk stoking inflation.
Governor Amando Tetangco said the central bank would have to tailor its monetary policy to deal with excess liquidity from overseas Filipinos sending home remittances and investor inflows.
"Since this may threaten our inflation target, the central bank will need to craft an appropriate monetary policy response," Tetangco said at a briefing with foreign correspondents.
Economists said the comments signalled that the central bank would maintain the wider availability of its high-yielding special deposit account (SDA), which it opened up to government-owned companies and bank trust departments in May to soak up billions of dollars in excess liquidity.
McCain: Still Losing GOPs?
Foley and the Best Boys: Clarice Feldman, a conservative, tries to find Democratic misbehavior in the outing of Rep. Foley and fails, as far as I can see. So what if a Soros-backed "watchdog" group coordinated the publicizing of the initial, not-that-damaging-but-suggestive email between Rep. Foley and a page? That's allowed. You're even allowed to wait until it's too late for the GOPs to take Foley off the ballot. The gambit only worked because Foley was guilty. ... .
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