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U.S. stocks massive melt-up fans investor fears
This indicates real fear - as does the statement by the Ban k of England governor.
5 October, 2011
The last hour of trading was the most volatile final hour in two months -- and it occurred at a speed that frightens many, from experienced hedge-fund managers to mom-and-pop investors.
The late-day "melt-up" that pushed the S&P 500 index .SPX out of bear-market territory might be construed as good news. But it brings back echoes of the "flash crash" that saw markets dive by several hundred points in a matter of minutes, and it's a big reason many are staying away from the market.
"Everyone is scared in both ways -- the shorts are scared, the longs are scared, everyone is scared. The high-net-worth investor is very, very scared," said Stephen Solaka, managing partner at Belmont Capital Group in Los Angeles, which manages money for independent wealth advisers and family offices.
Tuesday's move was the latest example of an erratic, high-octane stock market increasingly driven by levered exchange traded funds and complicated hedging and options strategies that unwind with dizzying speed.
For article GO HERE
College students, nurses join Occupy Boston protest
Local college students and registered nurses joined protests today for Occupy Boston, a movement drawing attention to social inequities in the nation’s financial system that began in New York and has spread to other cities.
For article GO HERE
Occupy Wall Street Has $40K In The Bank And 'The Money Is Going To Start Rolling In Now'
As you've surely noticed, the Occupy Wall Street protestors have taken things to another level in the past couple of days.
Hundreds have been arrested. They have the power of unions behind them now, which has drawn thousands to protest with them and gotten the attention of big media outlets. And there are two separate movements growing within the protestors.
The youth behind the original movement are organized into factions or committees, including legal, medical, and finance, and they are pulling away from association with the union protest movement now. The people behind the original movement recognize that their strength is in their youth, and we found little evidence to confirm reports that they're not organized.
They now have $40,000 in the bank, in an account at Amalgamated Bank.
For article GO HERE
India: NTPC shuts three units in Dadri on coal shortage
6 October, 2011
Shortage of coal has forced the country’s largest power producing company, NTPC Ltd, to shut down three of the four 210 mw units at its Dadri plant.
The shutdown has impacted power supply in the national capital as 750 mw of its total capacity of 840 mw is scheduled for the region.
“Power supply to Delhi has been affected since the wee hours of Wednesday,” said a BSES statement.
For article GO HERE
Saudi forces pull out of Shia troublespots
This spells trouble - the Saudis have never pulled out of anywhere before.
6 October, 2011
The Saudi security forces are pulling back in troubled parts of the oil-rich country's Eastern Province to avoid further confrontation with Shia protesters, say human rights activists, but they warn that any small incident might provoke fresh clashes.
Saudi police and soldiers had previously been besieging the Shia town of al-Awamiyah which was the scene of shooting and riots earlier in the week. The Saudi Interior Ministry had accused protesters of carrying arms and throwing Molotov cocktails from motorcycles which they used to circumvent police checkpoints. It also alleged that they were directed by an unnamed foreign country – which in Saudi official terminology invariably means Iran.
For article GO HERE
BT suffers huge broadband failure across much of UK
3 Octoberm 2011
BT has confirmed that a "power failure" at a major exchange in Birmingham has been causing problems for broadband customers across the UK.
Problems have been reported from as far afield as Belfast, Edinburgh, Swansea and London.
Many users took to Twitter to complain that the company was not answering its helpline.
For article GO HERE
Amid Austerity, Britons Cut Back on Groceries
5 October, 2011
Pressure on British consumers was laid bare on Wednesday as top retailer Tesco posted one of its biggest-ever falls in underlying sales and rival J Sainsbury reported only modest growth.
The results showed Britons are cutting back on groceries, traditionally the most resilient area of spending, as disposable incomes are squeezed by rising prices , muted wage growth and a government austerity drive.
With household spending accounting for about two-thirds of gross domestic product, that trend could add to fears about Britain's fragile economic recovery and strengthen calls for the government to slow its drive to reduce the deficit.
For article GO HERE
High dosage of cesium found in soil outside Fukushima no-go zone
High dosage of cesium found in soil outside Fukushima no-go zone
7 October, 2011
TOKYO (Kyodo) -- High levels of radioactive cesium were found in an independent study in a Fukushima city district, prompting a citizens group and others involved to urge the government on Wednesday to promptly designate the area as one of the contamination hot spots for possible evacuation and ensure proper decontamination.
Up to 307,000 becquerels of cesium per kilogram of soil was detected in the Sept. 14 survey, triple that of the benchmark above which the government requires tainted mud to be sealed by concrete. The contamination is believed to have been caused by radiation leaked by the Fukushima Daiichi nuclear plant crippled in the March 11 earthquake and tsunami disaster.
The readings are comparable to the high levels in special regulated zones where evacuation was required after the 1986 Chernobyl accident, said the citizens group, Citizens Against Fukushima Aging Nuclear Power Plants.
For article GO HERE
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