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| NEW YORK (MarketWatch) -- U.S. stocks trimmed early losses Friday from a stronger-than-expected consumer confidence reading offset weak August retail numbers and on news that a U.K. lender is tapping the lender of England for urgent cash.Down more than 80 points earlier, the Dow Jones Industrial Average curbed its declines following a monthly survey by Reuters along with the University of Michigan pointed with a rebound in consumer sentiment in September, having an index rising to 83.8 in September from 83.4 in August, above a forecasted rise to 83.5."The University of Michigan confidence number helped to spark the rally, the thinking being as long as consumer confidence remains relatively healthy as well as the Fed provides liquidity for the credit markets that any slowdown in economic growth will likely be temporary," said Mike Malone, trading analyst at Cowen & Co. "That, along with attractive valuation for equities, compels investors to get involved," said Malone.The Dow was now off 7.5 points at 13,417.4 with 14 of the company's 30 components trading lower, with American Express Co. leading the Dow's decline, its stock off 3.1%.The S&P 500 was off 2.1 points at 1,481.89, and also the Nasdaq Composite slid 4.24 points to 2,596.68.Volume with the New York Stock Exchange came to 455 million shares, with declining stocks before advancing issues 8 to 7. At the Nasdaq, 665 million shares were exchanged, and declining issues topped advancers 3 to at least one.The 'R' word In advance of Wall Street's opening bell, stock futures extended early losses following the Commerce Department reported a 0.3% rise in retail sales in August, tough gains coming from trucks and cars. Excluding vehicle sales, the figure fell 0.4%. . "The only nice thing about it there is the prior month's numbers were revised upward, yet it's still negative news and will add to growing concerns that the 'R' word is a greater possibility," said Al Goldman, chief market strategist at AG Edwards. "A confluence of negatives today has brought out sellers -- a bailout by the financial institution of England with the fourth-largest mortgage lender, another hike from the BOC <Bank>of China] lending rate, and weaker-than-expected retail sales," said Elliot Spar, market strategist at Stifel Nicolaus & Co.The Commerce Department reported the U.S. current account deficit narrowed to $190.8 billion from the second quarter, or 5.5% of gdp. In a separate report, the department said inventories at U.S. businesses tightened in July prior to the August financial crunch. . Also head with the opening bell, the Federal Reserve reported an August surge in output at U.S. factories, mines and utilities, with industrial production up 0.2%. .The slew of reports failed to alter widely held perceptions how the Federal Reserve would cut rates of interest at least 25 basis points on the central bank's policy-setting meeting on Tuesday."In total, the data a little something for everyone, but failed to provide sufficient fodder for either the extreme hawks or doves on the FOMC <Federal>Open Markets Committee] to alter the center of gravity in policy momentum toward of the quarter point cut," said analysts at Action Economics."I think the market industry has a pretty steady bid entering the Fed meeting in the near future on expectations rates are going to be cut," said Malone. The intense spot to be found inside the disappointing retail sales information is "it makes a Fed rate cut a lock ," said Goldman. "This one probably closes the door on anything but a rate cut, the question is 25 or 50 basis points." British bailoutOverseas, British stocks declined after U.K. lender Northern Rock considered the Bank of England for urgent cash, saying the global market meltdown has it can not raise financing. .Asian stocks, however, tallied solid gains, with Hong Kong's Hang Seng Index rising 1.5to end in a record high. .China lifted its benchmark interest rates as its central bank moved to cool the nation's economic growth and inflationary pressures. On Wall Street, KKR Financial gained 0.3% following the Kohlberg Kravis Roberts affiliate agreed to sell seven private-equity investments for $191 million.Dow component Intel Corp. fell 1% after its downgrade to neutral from buy by Merrill Lynch, which cited its valuation of the world's biggest chipmaker.Genentech Inc. received pressure, falling 0.2%, after a Food and Drug Administration advisory panel said it would review a credit application for its Avastin breast cancer drug.And Liz Clairborne fell 0.6% after it sold four brands to Li & Fung USA to have an undisclosed sum.Gold gainsAt the New York Mercantile Exchange, gold futures climbed sharply, with gold for December delivery gaining $4.60 to $722.50 one ounce. Crude-oil futures fell 15 cents to $79.94 a barrel. .The dollar was the target of pressure against the yen and also the euro, with the greenback sliding 0.1% from the euro and 0.2% up against the yen. .The benchmark 10-year Treasury note fell 4/32 at 102 3/32, its yield at 4.49%. .By Kate Gibson mulberry bag repairs
The U.S. defense chief urged Asian allies Saturday to think about tougher sanctions against North Korea, noting that past efforts to cajole the reclusive regime into scrapping its nuclear weapons program only have emboldened it.North Korea's yearslong use of scare tactics as being a bargaining chip to secure aid as well as other concessions - and then later renege on promises - has worn thin the patience of 5 nations negotiating with it, U.S. Defense Secretary Robert Gates said."They create a crisis and the rest of us pay the price to return to the status quo ante," Gates told the Shangri-La Dialogue, once a year meeting of defense and security officials."There is also ways perhaps to obtain the North Koreans to change their approach," he said. "I think this notion that individuals buy our long ago to the status quo ante is surely an approach that I personally at the very least think we ought to think very difficult about."The last time Pyongyang tested a nuclear weapon, in 2006, its ally China was simply mildly critical. This time, a top Chinese defense official almost echoed his American counterpart, reports CBS News correspondent Kimberly Dozier."We are resolutely in opposition to nuclear proliferation," around the Korean Peninsula, said Lieutenant General Ma Xiaotian, China's Deputy Chief of General Staff.The sharp statements were also echoed by South Korea's defense minister. Taken together, they reflect fears during the entire region that North Korea's nuclear and missile tests this past week could get lost and lead to fighting.One option the U.N. Security Council approved after the last test, would be a Naval blockade, checking ships entering North Korean ports for contraband, reports Dozier. They never imposed it, fearing it would push Pyongyang into the kind of behavior it's exhibiting now.North Korea is telling its people it faces imminent attack, and has threatened everything from the modern rocket launch to all-out war, if the U.N. blockades Pyongyang, reports Dozier.North of manchester said it would not honor a 1953 truce with Columbia after Seoul joined a 90-plus nation security alliance that seeks to curb nuclear trafficking on the seas.The U.N. Security Council is additionally drafting financial and military sanctions against North Korea as punishment for the weapons testing. Similar sanctions approved after the North's first atomic test in the year 2006 have been only sporadically enforced, and largely ignored by China and Russia.Gates warned North Korea against secretly selling its weapons technology with rogue nations, saying the U.S. "will not stand idly by."Later, at what officials referred to as the first-ever meeting among defense chiefs from the U.S., Japan and The philipines, Gates asked his counterparts to begin with considering other steps against North Korea when the regime continue to escalate its nuclear program. These military leaders would not discuss specific potential actions but U.S. officials who attended the half-hour meeting said any steps will be taken in self-defense.South Korean Defense Minister Lee Sang-hee said the talks "could not need come at a better time.""North Korea perhaps to this point may have mistakenly believed that it could be perhaps rewarded because of its wrong behavior," Lee told reporters. "But that is no longer the case."Gates doesn't plan to build up American troops in your community, and said Saturday he currently won't consider North Korea to pose a principal military threat on the United States.(AP Photo/Ahn Young-joon) (Left: South Korean Marines go to take their position at South Korea's western Yeonpyong Island, close to the disputed sea border with communist North Korea, Saturday, May 30, 2009.) Earlier within the day, Lt. Gen. Ma Xiaotian, the second-in-command with the Chinese military's General Staff, told the safety forum that Beijing "has expressed a company opposition and grave worry about the nuclear test."The National government also announced it will dispatch a delegation Sunday to Tokyo, Seoul, Beijing and possibly Moscow over the next week to discuss how to respond to North Korea.Mark Fitzpatrick, an authority on nonproliferation issues with the International Institute for Strategic Studies and a former top U.S. State Department official, said North Korea probably will respond heatedly to whatever actions the U.S. and allies take."North Korea's responses to date have been so far beyond the normal tit-for-tat," Fitzpatrick said Saturday. "If they again escalate, I think we could see some low-level conflict, some shooting incidents on the ocean. But then one can't say, well, we're not able to respond at all because North Korea might use it as a provocation. North Korea will use any response as being a provocation." mulberry outlet york website
Canada's embattled foreign minister resigned for leaving classified documents in a nonsecure location, Prime Minister Stephen Harper announced Monday, calling the breach "a serious error."Harper asserted he accepted the resignation of Maxime Bernier, who came under fire in recent weeks amid reports which a former girlfriend had previous relationships with men related to Hells Angels motorcycle gang members."Mr. Bernier is familiar with and informed me that they left classified documents inside a nonsecure location. This is a serious error," Harper said.Harper declared Bernier's controversial relationship together with the woman was not an aspect in the resignation.But it was announced as Bernier's former girlfriend, Julie Couillard, was prepared to go on a French-language television station to say that Bernier had been careless with classified documents."It's only this error. It's a very serious mistake for almost any minister. We must always accept responsibilities for that documents that are classified. The minister has immediately acknowledged the gravity of this mistake," Harper said.The documents were left at the private residence earlier this spring, Harper said in the statement. He would not say what the documents were or if they were shared with others.Bernier wrote in the letter of resignation that they became aware Sunday night that they had left behind classified documents at the private residence.Couillard wouldn't normally comment on the nature in the document except to express that Bernier left it behind at her place."Maxime located see me anf the husband left a document behind," she said, explaining the document still existed by accident.She said she contacted a legal professional for advice, who informed her it was the property from the Canadian government."The document was presented with back," she said. Couillard insisted she was doing an interview to re-establish her dignity and credibility after intense media scrutiny following revelations she'd links to Quebec bikers.The previous model said she had never done anything wrong and never been convicted of any crime. She said she told Bernier about her involvement with Quebec bikers shortly after she began dating him during the warm months of 2007."Maxime knew about it," she said, noting he failed to press her about the matter but seemed somewhat surprised.Harper also failed to say what the documents were or if perhaps they were shared with others.Bernier wrote in the letter of resignation he asked the Foreign Affairs Department to conduct a thorough review of the situation.As part of his letter of resignation, Bernier asked the Foreign Affairs Department to conduct a thorough review of the situation."Prime Minister, the protection breach that occurred was my fault and my fault alone and i also take full responsibility for my actions," Bernier wrote.Harper said David Emerson, the international trade minister, is going to take over as interim foreign minister.Just hours before Bernier quit, Harper had dismissed the full affair."I have no intention to touch upon a minister's former girlfriend," Harper said earlier in the day as he wrapped up a news conference with visiting Ukrainian President Victor Yushchenko. "I do not take this subject seriously."Opposition Liberal Member of Parliament Ralph Goodale said the prime minister has a lot of trying to explain to do because he had dismissed the storyplot for weeks.Bernier originates under fire for various gaffes, including promising aid for Myanmar with a plane that was inaccessible.Bernier first drew a person's eye of Canadians when he appeared at his swearing in ceremony last August with the provocatively dressed Couillard on his arm. Her previous boyfriend's links to organized crime failed to become public until recently.Couillard had lived with Gilles Giguere, a well-known Montreal crime figure for 3 years beginning in 1993. He was gunned down in 1996 whilst decided to become a police informer after being arrested having a cache of submachine-guns and marijuana.In 1997, she began dating and later on married Stephane Sirois, who admitted to just as one enforcer for the Rockers, a Hells Angels-affiliated biker club. He later turned informant and testified against a dozen of his former colleagues inside a 2002 trial.Couillard and Sirois divorced in 1999.Throughout the interview for a French-language Quebec television network, Couillard mentioned having tea using the wife of Harper and meeting U.S. President George W. Bush at the meeting of the United Nations General Assembly.She said Bush approached Bernier and her in a corridor and, glancing at her, jovially told Bernier, "Well, well, well, haven't you been busy." uk ugg boots
A California man has been arrested for arranging for his 14-year-old daughter to marry a neighbor in return for $16,000, 100 cases of beer and several cases of meat, police said.Authorities in Greenfield, a farming community on California's central coast, said they discovered the deal after Marcelino de Jesus Martinez, 36, asked them for help returning his daughter after payment wasn't made.Martinez was arrested Sunday. He's scheduled to be arraigned Wednesday in Monterey County Superior Court on felony charges of procuring a kid under age 16 for lewd and lascivious acts, statutory rape and cruelty into a child by endangering health, according to the prosecutor.The prosecutor's office said Martinez did not have an attorney of record yet.Police also arrested the intended groom, 18-year-old Margarito de Jesus Galindo, on suspicion of statutory rape, but prosecutors have never decided whether to charge him. Police didn't return a message Tuesday for facts about whether Galindo had legal counsel.Martinez is a member of an indigenous Mexican Trique community. Greenfield police Chief Joe Grebmeier said the situation highlights an issue confronting local authorities in this arranged marriages with girls as early as 12 are not uncommon among the Trique.He hesitated to say the lady was being sold into marriage, as the money was intended as a dowry and the beer and meat were for the wedding. But, he added, the arrangement violates California law, where the age of consent for marriage is eighteen, and with parental approval, 16."This is not a traditional trafficking case while there is no force or coercion with this," Grebmeier said. "We're conscious of the cultural issues here, but state guidelines trumps cultural sensitivity."Grebmeier is planning to meet with leaders in the Trique community to talk about how some cultural practices might conflict with California law. "Initially, when everyone was talking to us, we many userful stuff here because they had no realization it's against the law - an arranged marriage for the money with a minor," Grebmeier said.Many Trique immigrants are part of the stream of farm workers who tend California's fruit and vegetable fields, living in communities scattered across the coast and the state's agricultural Central Valley. The usually speak only Trique, an indigenous language, and come from villages with cultural traditions that set them aside from other Mexicans.Service organizations have already been working to help them integrate, said Jonathan Fox, a professor of Latin American and Latino Studies in the University of California, Santa Cruz, who may have worked extensively with indigenous immigrants."This is definitely not the first such case I've been aware of," he said of the marriage involving an underage girl.Individuals the indigenous community protested what is the news reports and public discussion from the case, saying these folks were painted in a very negative light."No one convey a 'for sale' sign on this girl, and that's how it sounds," said Rufino Dominguez, an indigenous immigrant and head in the Greenfield office of the Binational Center for the Development of the Indigenous Communities.He explained arranging marriages and exchanging items that will contribute to the marriage party are common, but financial resources are not usually the main transaction. When that does happen, it isn't seen well within town, he said."Most people don't go along with it," he was quoted saying.Police learned of the offer in mid-December, when Martinez reported his daughter like a runaway. Further investigation found the lady had not fled but moved along with Galindo as part of the marriage arrangement. Grebmeier said the girl was a willing party towards the deal.Martinez would face at least a year in prison if convicted. Because he's an undocumented immigrant, he's under an immigration hold and isn't eligible for bail. black knitted uggs
Wall Street tumbled again Wednesday after the Federal Reserve added more cash to the banking system but didn't quash investors' jitters about problems in lending.With another triple digit drop, the Dow Jones industrial average has experienced its worst 10 days in five years. Only a month after the Dow crossed 14,000, it is back below 13,000, reports CBS News correspondent Anthony Mason.The marketplace traded nervously, jerking the Dow above and underneath the 13,000 mark the whole day as investors wrestled with reports about potential trouble at Countrywide Financial Corp. and KKR Financial Holdings LLC.By late from the day, investors saw little reason to buy beyond the fact that stocks are at bargain prices. That also wasn't enough for your market to hold any gains, and so the Dow dropped about 170 points. The conventional & Poor's 500 index also dropped sharply, and is also now down to the year.Central banks worldwide have supplied immeasureable funds to banks during the last week to make cash intended for lending and keep rates stable amid signs that credit was drying up. On Wednesday, the Fed stated it would accept a "repo" of $7 billion, that buys that amount in securities from dealers, who then deposit the cash into commercial banks.Still, the Fed has not yet indicated that it will take back more cash by making home mortgage cut at its Sept. 18 meeting, a move that many on Wall Street believe could stoke a share recovery. Inflation has been keeping the central bank from lowering rates; the Labor Department said Wednesday its Consumer Price Index rose a light 0.1 percent in July, not surprisingly, but energy prices remain high."Yes, industry would probably move dramatically higher if they made a cut," said Linda Duessel, market strategist at Federated Investors in Pittsburgh. "But I believe it's more prudent to permit this correction to carry on to unfold. All things considered, we're in the month of August and getting into September — historically, the weakest months of the season. The market has been in need of a correction."The Dow fell 167.45, or 1.29 percent, to 12,861.47, closing below 13,000 the very first time since April 24 and recurring a weeks-long pattern of triple-digit moves. Nowhere chip index is more than 8 percent below its record close above 14,000 reached in mid-July.Broader stock indicators also fell. The S&P 500 index dropped 19.84, or 1.39 percent, to at least one,406.70, and the Nasdaq composite index lost 40.29, or 1.61 percent, to two,458.83.Bonds rose, planning the opposite direction as stocks. The yield around the benchmark 10-year Treasury note fell to 4.71 percent from 4.73 percent late Tuesday.The Dow rose around 90 points Wednesday, as investors wanted bargains among hard-hit stocks."The most savvy investors are seeing a possibility with the increase in volatility. Individuals less used to this are having trouble navigating through it," said James Smothermon, Charles Schwab's active trading and investing strategist. He stated clients have been changing their strategies through tactics like buying insurance on his or her portfolios and buying put options, or contracts that let an investor sell portion of an asset at a set price within a certain time period. no previous page next 1/2 www.mulberry.com
A top adviser to John McCain said another terrorist attack on U.S. soil will be a "big advantage" for the Republican presidential candidate, drawing a clear, crisp rebuke Monday from the two presumed GOP nominee and Democrat Obama.Charlie Black, already the center of attention for his past lobbying work, is quoted inside the upcoming July 7 edition of Fortune magazine as saying such an attack "certainly would be a huge advantage to him." Black said Monday he regretted the comment.Black is additionally quoted as saying the "unfortunate event" with the assassination of former Pakistani leader Benazir Bhutto in December 2007 "helped us."Questioned about Black's comments during a news conference, McCain said, "I cannot imagine why however say it. It's not true. I've worked tirelessly since 9/11 in order to avoid another attack on the United States of America. My record is very clear."Citing his attempt to establish a commission to look into the Sept. 11, 2001, terrorist attacks with his fantastic membership on the Senate Armed Services Committee, McCain added: "I cannot imagine it, so, if he said that - i don't know the context - I strenuously disagree."Obama spokesman Bill Burton said in the statement: "The fact that John McCain's top adviser claims that a terrorist attack on American soil will be a 'big advantage' for their political campaign can be a complete disgrace, which is exactly the kind of politics that should change. Barack Obama will turn the page on these failed policies this also cynical and divisive make of politics so that we can unite this nation around a common purpose to finish combating al Qaeda."The remarks caught McCain flat-footed on a day when he focused on energy issues - first inside a speech, then at a town-hall meeting and then throughout a news conference because he stood beside two $100,000 electric cars. McCain offered $300 million to anyone that develops a revolutionary automobile battery, anf the husband predicted such incentives would lower alternative energy costs.Moments later, he was befuddled when reporters mentioned Black's comments. Black was similarly surprised when reporters happened upon him outside a later McCain fundraiser.Speaking quietly, Black read from handwritten notes. "I deeply regret please note. They were inappropriate. I'm sure that John McCain has devoted his entire life to protecting his country and placing its security before another consideration," Black said.Black repeatedly has argued that McCain - a former Navy pilot and Vietnam prisoner of war that has traveled the globe while serving in Congress - benefits whenever national security matters will be the news of the day. By contrast, Obama has under four years experience in the Senate and contains paid only one holiday to Iraq. He plans another trip before the November election. Throughout the 2004 presidential race, President Bush, Vp Dick Cheney and other Republicans argued that Democratic nominee John Kerry was soft on terrorism; the argument resonated with voters. The GOP also questioned the Democrats' record on national security in 2002, with White House political adviser Karl Rove saying Republicans should not shy away from citing terrorism concerns as a reason to opt for their party.The approach also paid dividends on the polls during that year's congressional elections.The GOP line - that Democrats stood a pre-Sept. 11 mind-set - failed in the 2006 midterm elections as Democrats wrested charge of Congress from the Republicans.More recently, former White House press secretary Scott McClellan wrote in the memoir that during the run-up to the 2003 invasion of Iraq, Bush with his fantastic team tried to result in the weapons of mass destruction "threat and also the Iraqi connection to terrorism appear slightly more certain, a little less questionable than they were."For his part, McCain has attempted to portray Obama as naive on national security and foreign policy.On Monday, McCain told reporters he was stunned that Obama hasn't ever been briefed by Gen. David Petraeus, that is leading U.S. forces in Iraq, yet Obama's calling for a U.S. troop withdrawal."Remarkable how someone can make an assessment in the situation without seeking a briefing from the commanding general," McCain said. ugg website uk
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