Money 70: The best mutual funds you can buy Don't dwell on your losses. Focus on things you can control, like investing costs and consistency. That's what the MONEY will help you do. window.onerror funcion By Penelope Wang, Money Magazine senior writer (Money Magazine Could 2008 have been any worse for fund investors? As we went to press, not a single stock fund made money, and defying the laws of diversification, many bond funds fell too. Still, the MONEY 70, our recommended list of mutual and exchange-traded funds, held up better than most. More than 60% of our actively managed funds ranked in the top half of their categories last year; over the past five, 83% beat their peers. Of course, category-trouncing performance isn't the mission of the MONEY 70, since no one can predict future returns. Instead, we provide a mix of high-quality funds - including index funds and ETFs - which you can use to build a diversified portfolio. We stick with the criteria that matter most, like low fees, which let you keep more of your returns. When it comes to actively managed funds, we also look for consistent strategies and experience. And we care how well funds treat their shareholders. So we pay attention to Morningstar's stewardship grades, which rate such factors as a fund group's culture and regulatory history. As for performance, we focus on funds that rank in the top half of their peers over five years but make exceptions when a manager's style is out of favor. This year we're making only two switches. First, we're dropping Matrix Advisors Value because its assets slipped below our $100 million minimum. Funds that small pose a greater risk of raising fees or merging. If you own it, though, there's no reason to sell. We're then adding Allianz NFJ Small Cap Value, a fund that invests in dividend-paying small stocks and that recently reopened. We're also bringing back a former MONEY 70 fund that reopened, Third Avenue Small Cap Value, which buys undervalued high-quality stocks. To fit it in, we're dropping Bridgeway Small Cap Value - a fund we like but that tends to have wilder swings. Whichever funds you choose, be patient. Whether the recovery takes another five months or five years, you can be sure that the low fees, consistent strategies and trustworthy management of the {true;} if(!self.clickURL) clickURL=cleanClickURL(parent.location.href);EMAIL PRINT SHARE RSS TWITTER DIGG FACEBOOK DEL.ICIO.US REDDIT STUMBLE .rss Paste this link into your favorite RSS desktop reader See all cnnShareLinks.iniMoney','rss.cnn.com/rss/magazines_moneymag.rss'); // EDIT THIS catch(e) { By Penelope Wang, Money Magazine senior writer (Money Magazine) -- Could 2008 have been any worse for fund investors? As we went to press, not a single stock fund made money, and defying the laws of diversification, many bond funds fell too. Still, the MONEY 70, our recommended list of mutual and exchange-traded funds, held up better than most. More than 60% of our actively managed funds ranked in the top half of their categories last year; over the past five, 83% beat their peers. Of course, category-trouncing performance isn't the mission of the MONEY 70, since no one can predict future returns. Instead, we provide a mix of high-quality funds - including index funds and ETFs - which you can use to build a diversified portfolio. We stick with the criteria that matter most, like low fees, which let you keep more of your returns. When it comes to actively managed funds, we also look for consistent strategies and experience. And we care how well funds treat their shareholders. So we pay attention to Morningstar's stewardship grades, which rate such factors as a fund group's culture and regulatory history. As for performance, we focus on funds that rank in the top half of their peers over five years but make exceptions when a manager's style is out of favor. This year we're making only two switches. First, we're dropping Matrix Advisors Value because its assets slipped below our $100 million minimum. Funds that small pose a greater risk of raising fees or merging. If you own it, though, there's no reason to sell. We're then adding Allianz NFJ Small Cap Value, a fund that invests in dividend-paying small stocks and that recently reopened. We're also bringing back a former MONEY 70 fund that reopened, Third Avenue Small Cap Value, which buys undervalued high-quality stocks. To fit it in, we're dropping Bridgeway Small Cap Value - a fund we like but that tends to have wilder swings. Whichever funds you choose, be patient. Whether the recovery takes another five months or five years, you can be sure that the low fees, consistent strategies and trustworthy management of the MONEY 70 funds will keep working in your favor.the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. Friday, September 11, 2009
The best mutual funds you can buy Don't dwell on your losses.
Money 70: The best mutual funds you can buy Don't dwell on your losses. Focus on things you can control, like investing costs and consistency. That's what the MONEY will help you do. window.onerror funcion By Penelope Wang, Money Magazine senior writer (Money Magazine Could 2008 have been any worse for fund investors? As we went to press, not a single stock fund made money, and defying the laws of diversification, many bond funds fell too. Still, the MONEY 70, our recommended list of mutual and exchange-traded funds, held up better than most. More than 60% of our actively managed funds ranked in the top half of their categories last year; over the past five, 83% beat their peers. Of course, category-trouncing performance isn't the mission of the MONEY 70, since no one can predict future returns. Instead, we provide a mix of high-quality funds - including index funds and ETFs - which you can use to build a diversified portfolio. We stick with the criteria that matter most, like low fees, which let you keep more of your returns. When it comes to actively managed funds, we also look for consistent strategies and experience. And we care how well funds treat their shareholders. So we pay attention to Morningstar's stewardship grades, which rate such factors as a fund group's culture and regulatory history. As for performance, we focus on funds that rank in the top half of their peers over five years but make exceptions when a manager's style is out of favor. This year we're making only two switches. First, we're dropping Matrix Advisors Value because its assets slipped below our $100 million minimum. Funds that small pose a greater risk of raising fees or merging. If you own it, though, there's no reason to sell. We're then adding Allianz NFJ Small Cap Value, a fund that invests in dividend-paying small stocks and that recently reopened. We're also bringing back a former MONEY 70 fund that reopened, Third Avenue Small Cap Value, which buys undervalued high-quality stocks. To fit it in, we're dropping Bridgeway Small Cap Value - a fund we like but that tends to have wilder swings. Whichever funds you choose, be patient. Whether the recovery takes another five months or five years, you can be sure that the low fees, consistent strategies and trustworthy management of the {true;} if(!self.clickURL) clickURL=cleanClickURL(parent.location.href);EMAIL PRINT SHARE RSS TWITTER DIGG FACEBOOK DEL.ICIO.US REDDIT STUMBLE .rss Paste this link into your favorite RSS desktop reader See all cnnShareLinks.iniMoney','rss.cnn.com/rss/magazines_moneymag.rss'); // EDIT THIS catch(e) { By Penelope Wang, Money Magazine senior writer (Money Magazine) -- Could 2008 have been any worse for fund investors? As we went to press, not a single stock fund made money, and defying the laws of diversification, many bond funds fell too. Still, the MONEY 70, our recommended list of mutual and exchange-traded funds, held up better than most. More than 60% of our actively managed funds ranked in the top half of their categories last year; over the past five, 83% beat their peers. Of course, category-trouncing performance isn't the mission of the MONEY 70, since no one can predict future returns. Instead, we provide a mix of high-quality funds - including index funds and ETFs - which you can use to build a diversified portfolio. We stick with the criteria that matter most, like low fees, which let you keep more of your returns. When it comes to actively managed funds, we also look for consistent strategies and experience. And we care how well funds treat their shareholders. So we pay attention to Morningstar's stewardship grades, which rate such factors as a fund group's culture and regulatory history. As for performance, we focus on funds that rank in the top half of their peers over five years but make exceptions when a manager's style is out of favor. This year we're making only two switches. First, we're dropping Matrix Advisors Value because its assets slipped below our $100 million minimum. Funds that small pose a greater risk of raising fees or merging. If you own it, though, there's no reason to sell. We're then adding Allianz NFJ Small Cap Value, a fund that invests in dividend-paying small stocks and that recently reopened. We're also bringing back a former MONEY 70 fund that reopened, Third Avenue Small Cap Value, which buys undervalued high-quality stocks. To fit it in, we're dropping Bridgeway Small Cap Value - a fund we like but that tends to have wilder swings. Whichever funds you choose, be patient. Whether the recovery takes another five months or five years, you can be sure that the low fees, consistent strategies and trustworthy management of the MONEY 70 funds will keep working in your favor.the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. 
Real Estate September 10th, 2009
Buyers will be allowed to return their car or truck within 60 days if they’re not satisfied.Buy a new General Motors car. Don’t like it? Return it and get your money back.General Motors, in a bid to appeal to consumers upset about decades of poor quality and the carmaker’s government bailout, is launching an unusual [...] Tags: businesses, buyers, general motors, money No Comments » more... Case: Commercial Real Estate Next to Fall September 10th, 2009 by Financial WriterWellesley College economics professor Karl Case, co-founder of the S&P/Case-Shiller Home Price Index, says commercial real estate “absolutely” could be the next domino to fall.“It’s not as big as residential,” he pointed out in an interview with Dan Mangru of Moneynews.About 30 percent of U.S. loans are secured with residential real estate, compared to 13 [...] Tags: economics, economy, loans, real estate No Comments » more... GM will offer 60-day, money-back guarantee on new cars September 10th, 2009 by Financial Writer Frustrated that many shoppers won’t even consider its cars, General Motors says starting Monday, buyers of new GM models can bring them back within 60 days, no questions asked, and get back the price of the car.GM’s Vauxhall brand used a money-back guarantee in the U.K. some years ago, GM marketing chief Bob Lutz says, [...] Tags: buyers, general motors, money, us No Comments » more... China Ramps Up To Buy Cheap U.S. Real Estate September 10th, 2009 by Financial Writer China Investment Corporation, China’s $300 billion sovereign-wealth fund (SWF), is preparing to buy distressed U.S. real estate assets.It will do so using the U.S. Treasury Department’s Public-Private Investment Program (PPIP) to fund the investments, reports the Wall Street Journal.Meanwhile, several Chinese officials warned that Wall Street isn’t taking the recession seriously, and that much more [...] Tags: China, economic, financial crisis, real estate, USA No Comments » more... Stocks end at 2009 highs September 10th, 2009 by Financial Writer Wall Street cheers as strong debt auction, P&G forecast, Geithner comments and drop in jobless claims draw investors.Stocks surged Thursday, with the major gauges ending at the highest point in nearly a year, having responded strongly to a debt auction and Procter & Gamble’s improved forecast.The Dow Jones industrial average (INDU) gained 80 points, or [...] Tags: Debt, Dow Jones Industrial, jobless, Nasdaq composite, recession No Comments » more... The United States ranked as the top economy in terms of innovation and efficiency September 8th, 2009 by Financial Writer Switzerland pushed the United States out of the top spot as the planet’s most competitive economy while Canada moved up one to ninth, according to rankings released Tuesday.The World Economic Forum said the tiny landlocked European country received high marks for its banking system, established infrastructure and stable inflation and growth policies in the group’s [...] Tags: canada economy, top economy, usa conversion No Comments more... Gold has quadrupled in value September 8th, 2009 by Financial Writer The price of gold has touched $1,000 an ounce for the first time in six months.The move could be seen as a sign that investors believe the worst of the global recession is over and are worried about inflation.Others who are less convinced about the strength of the recovery are moving into gold, which is [...] Tags: economy, gold price, uk news No Comments » more... Debt Expert September 8th, 2009 by Financial Writer Personal debt problems have become more complicated in the past few years because of changes in income and people having mortgage arrears, says a debt expert.Frances Walker, spokesperson for the Consumer Credit Counselling Service (CCCS), said that it is encouraging see that people are starting to pay off their debts, but in some cases it [...] Tags: complicated economy, personal debt, usa residents No Comments » more... No more cheap loans August 31st, 2009 by Financial Writer Are banks, building societies and other lenders ripping people off by charging over the odds for loans and mortgages? Figures out this week suggest they’re doing just that with margins – the difference between the cost of a loan and the charge the lender makes – at all-time highs.Unsecured personal loan rates have soared by [...] Tags: cheap loans, mortgages, uk banks, UK Finance No Comments » more... Economy shrinks less than thought August 31st, 2009 by Financial Writer The rate of contraction of the UK economy in the three months from April to June has been reduced by the Office for National Statistics (ONS).Gross domestic product (GDP) has been revised to a fall of 0.7% from 0.8% compared with the previous quarter.The year on year decline has been revised to 5.5% from 5.6%.the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices.
Japanese to Buy U.S. Drug Firm Sepracor for $2.6 Billion
Japanese to Buy U.S. Drug Firm Sepracor for $2.6 Billion Article Font Size BOSTON/TOKYO -- Dainippon Sumitomo Pharma Co Ltd agreed on Thursday to buy U.S. drugmaker Sepracor Inc for $2.6 billion, giving the Japanese firm a big, local sales force in the world's largest drugs market. The deal is the latest in a string of overseas acquisitions by Japanese drugmakers keen to grow outside a mature home market and build product pipelines before key drug patents expire. Dainippon, Japan's No.7 drugmaker by revenues, will gain a sales force of 1,200 familiar with central nervous disorders as it looks to promote its experimental schizophrenia drug lurasidone, which has performed well in late-stage trials. It will also gain Sepracor's insomnia drug Lunesta, asthma drug Xopenex and an experimental epilepsy drug. "We anticipate our business will shrink if we focus only on Japan, where medical prices are under pressure," Dainippon Sumitomo President Masayo Tada told a news conference. "Even if the U.S. carries out healthcare reform it's not as if the market is going to halve. It will remain the world's biggest drug market." The deal is the fourth-largest overseas acquisition by a Japanese drugmaker, and the second-biggest this year by any Japanese company. For related graphic click here Dainippon's shares climbed 1.2 percent in a weaker Tokyo market, with volume at six times the daily average this year. Some analysts said the purchase was the easiest route into the U.S. market, others said it looked pricey and risky. Dainippon will pay $23 cash for each share, a premium of 27.6 percent on Tuesday's close before media reports of the deal sent Sepracor's stock surging to $22.8 on Wednesday. The acquisition cost is roughly equal to Dainippon's annual sales. "It's a very expensive deal for a company of Dainippon Sumitomo's size and also very risky, given the series of patent expirations on Sepracor's mainstay drugs in the next few years," said Credit Suisse analyst Fumiyoshi Sakai. "Dainippon must be extremely confident in lurasidone, although I have some doubts," he said, adding the deal would not have been possible without the backing of the Sumitomo Group, which includes Sumitomo Mitsui Financial Group, Japan's third-biggest bank. Dainippon is majority-owned by Sumitomo Chemical. Aaron Gal, an analyst at Sanford Bernstein, said that based on projections for 2013, the deal values Sepracor at 3.5 times sales, compared with 3.1 times for the average of other specialty pharmaceutical and generic drug industry acquisitions. It also values Sepracor at 19.4 times EBITDA (earnings before interest, taxes, depreciation and amortization) compared with an average of 15.1 times for other deals, he said. "Arguably, Dainippon is buying a U.S. sales force it can leverage to promote its current and pipeline products," said Gal. "We are unconvinced that this is the most sensible option for the company given the alternatives of building a sales team internally or acquiring a higher-performing sales team at a more rational price." Dainippon said it would raise 200 billion yen ($2.17 billion) in bridge loans and use 50 billion yen in cash on hand for the acquisition. NEW DRUG CLASS Dainippon, which sells the hypertension drugs Amlodin and Prorenal, said last month that lurasidone worked significantly better than a placebo in a late-stage clinical trial. It will apply for U.S. approval next year and aims for launch in 2011. The U.S. market for schizophrenia drugs is worth about 1.3 trillion yen a year, or 10 times the Japanese market, Dainippon's Tada said. With annual sales of 264 billion yen, Dainippon has been overshadowed by bigger rivals such as Takeda Pharmaceutical Co and Daiichi Sankyo Co, both of which have made large acquisitions to expand overseas. Buying Sepracor will allow Dainippon to generate 40 percent of its sales outside Japan, which it now counts on for more than 90 percent of its business. At the same time, its research and development budget will increase by 45 percent to 80 billion yen. Dainippon's four mainstay products have patents that have either expired or will expire shortly. But its shares gained 21 percent in the year to Wednesday, bolstered by hopes that lurasidone will do well overseas. Top-selling schizophrenia drugs such as AstraZeneca's Seroquel and Eli Lilly and Co's Zyprexa garner annual sales of around $4.5 billion. Other competitors include Johnson & Johnson's Risperdal and Bristol-Myers Squibb's Abilify. Lurasidone belongs to a new generation of schizophrenia drugs known as atypical antipsychotics. Rival products are Fanapt from Vanda Pharmaceuticals, Schering Plough's Saphris and Serdolect from Danish pharmaceutical firm Lundbeck. Sepracor has long been the subject of takeover speculation, and could face generic competition to Lunesta as early as 2012 if a generic drugmaker successfully challenges its patent, which expires in 2014. Xopenex is set to face generic competition in 2012. Sepracor, based in Marlborough, Massachusetts, had 2008 sales of $1.3 billion. Financial advisers to Dainippon Sumitomo were Nomura Securities and Thomas Weisel Partners LLC, while JP Morgan Securities Inc and Jeffries & Co advised SepracorThursday, September 10, 2009
Ahead of UN General Assembly’s high-level summit on the economic
Ahead of UN General Assembly’s high-level summit on the economic crisis on June 24-26, UN Millennium Campaign says new analysis indicates that finding money for aid is a matter of political will – not lack of resources – and calls on donors to finally meet their aid commitments The United Nations Millennium Campaign today released an analysis showing that since the inception of aid (overseas development assistance) almost 50 years ago, donor countries have given some $2 trillion in aid. And yet over the past year, $18 trillion has been found globally to bail out banks and other financial institutions. The amount of total aid over the past 49 years represents just eleven percent of the money found for financial institutions in one year. The UN Millennium Campaign is urgently calling on rich countries gathering at this week’s high-level summit on the economic crisis to make no further excuses that they lack resources and to urgently deliver on their aid commitments. “The stark contrast between the money dispersed to the world’s desperately poor after 49 years of painstaking summits and negotiations and the staggering sums found virtually overnight to bail out the creators of the global economic crisis makes it impossible for governments to any longer claim that the world can’t find the money to help the 50,000 people who are dying of extreme poverty every day,” said Salil Shetty, Director of the United Nations Millennium Campaign. “This is a straightforward question of political will. Rich countries’ priorities will become crystal clear at this week’s summit on the economic crisis, where we hope they will finally deliver on the aid they have repeatedly pledged but not delivered to those who need it most.”Worse still, the global economic crisis is expected to further impact the delivery of aid to poor countries at a time when the need is greatest. Already, the consequences of the crisis, caused by the richest people in the richest countries, are being disproportionately borne by poor countries. According to the Food and Agriculture Organization, the economic crisis has resulted in 100 million more people going hungry, taking the total number of hungry people in the world to a staggering one billion. At the same time, only $9.4 billion of the $28.3 billion -- less than a third -- pledged at the Gleneagles Summit in 2005 to be delivered to Sub-Saharan Africa by 2010, has actually been delivered.The Millennium Campaign believes any discussions of a new financial architecture must be inclusive of the voices and needs of the poor. The Campaign is therefore calling on donor countries to immediately and unconditionally do the following:
Urgently agree to a timetable to accelerate delivery of their aid commitments.
Make rapid progress toward achieving the Paris Declaration and Accra Agenda to simplify and streamline aid, including a clear timetable for implementation of existing commitments. Reduce and/or eliminate all trade-distorting agricultural subsidies. Ensure that poor countries are fully represented in all decision making bodies and in the restructuring of the global financial infrastructure. The Millennium Campaign is calling on poor countries to immediately do the following: Ensure that national development policies and plans are pro-poor and focused on women and excluded groups. Prioritize expenditures on the Millennium Development Goals. Ensure accountability and transparency in the management of public money. Prioritize domestic resource mobilization. To arrange interviews with spokespeople across Africa, Asia, Europe and North America contact:Kara Alaimo212-906-6399Kara.Alaimo@undp.orgNote to editors:The UN Millennium Campaign was established by the UN Secretary General in 2002. The Campaign supports citizens’ efforts to hold their governments to account for the achievement of the Millennium Development Goals. The Millennium Development Goals were adopted by 189 world leaders from the north and south, as part of the Millennium Declaration which was signed in 2000. These leaders agreed to eradicate extreme poverty and its root causes by 2015. Our premise is simple: we are the first generation that can end poverty and we refuse to miss this opportunity. For more information, visit www.endpoverty2015.org. Ahead of UN General Assembly’s high-level summit on the economic crisis on June 24-26, UN Millennium Campaign says new analysis indicates that finding money for aid is a matter of political will – not lack of resources – and calls on donors to finally meet their aid commitments June 23, 2009 – The United Nations Millennium Campaign today released an analysis showing that since the inception of aid (overseas development assistance) almost 50 years ago, donor countries have given some $2 trillion in aid. And yet over the past year, $18 trillion has been found globally to bail out banks and other financial institutions. The amount of total aid over the past 49 years represents just eleven percent of the money found for financial institutions in one year. The UN Millennium Campaign is urgently calling on rich countries gathering at this week’s high-level summit on the economic crisis to make no further excuses that they lack resources and to urgently deliver on their aid commitments. “The stark contrast between the money dispersed to the world’s desperately poor after 49 years of painstaking summits and negotiations and the staggering sums found virtually overnight to bail out the creators of the global economic crisis makes it impossible for governments to any longer claim that the world can’t find the money to help the 50,000 people who are dying of extreme poverty every day,” said Salil Shetty, Director of the United Nations Millennium Campaign. “This is a straightforward question of political will. Rich countries’ priorities will become crystal clear at this week’s summit on the economic crisis, where we hope they will finally deliver on the aid they have repeatedly pledged but not delivered to those who need it most.” Worse still, the global economic crisis is expected to further impact the delivery of aid to poor countries at a time when the need is greatest. Already, the consequences of the crisis, caused by the richest people in the richest countries, are being disproportionately borne by poor countries. According to the Food and Agriculture Organization, the economic crisis has resulted in 100 million more people going hungry, taking the total number of hungry people in the world to a staggering one billion. At the same time, only $9.4 billion of the $28.3 billion -- less than a third -- pledged at the Gleneagles Summit in 2005 to be delivered to Sub-Saharan Africa by 2010, has actually been delivered. The Millennium Campaign believes any discussions of a new financial architecture must be inclusive of the voices and needs of the poor. The Campaign is therefore calling on donor countries to immediately and unconditionally do the following: Urgently agree to a timetable to accelerate delivery of their aid commitments. Make rapid progress toward achieving the Paris Declaration and Accra Agenda to simplify and streamline aid, including a clear timetable for implementation of existing commitments. Reduce and/or eliminate all trade-distorting agricultural subsidies. Ensure that poor countries are fully represented in all decision making bodies and in the restructuring of the global financial infrastructure. The Millennium Campaign is calling on poor countries to immediately do the following: Ensure that national development policies and plans are pro-poor and focused on women and excluded groups. Prioritize expenditures on the Millennium Development Goals. Ensure accountability and transparency in the management of public money. Prioritize domestic resource mobilization. To arrange interviews with spokespeople across Africa, Asia, Europe and North America contact:Kara Alaimo212-906-6399Kara.Alaimo@undp.orgNote to editors:The UN Millennium Campaign was established by the UN Secretary General in 2002. The Campaign supports citizens’ efforts to hold their governments to account for the achievement of the Millennium Development Goals. The Millennium Development Goals were adopted by 189 world leaders from the north and south, as part of the Millennium Declaration which was signed in 2000. These leaders agreed to eradicate extreme poverty and its root causes by 2015. Our premise is simple: we are the first generation that can end poverty and we refuse to miss this opportunity. For more information, visit www.endpoverty2015.org.
China is calling for a new
China is calling for a new global currency controlled by the International Monetary Fund, stepping up pressure ahead of a London summit of global leaders for changes to a financial system dominated by the U.S. dollar and Western governments. The comments, in an essay by the Chinese central bank governor released late Monday, reflect Beijing's growing assertiveness in economic affairs. China is expected to press for developing countries to have a bigger say in finance when leaders of the Group of 20 major economies meet April 2 in London to discuss the global crisis. Gov. Zhou Xiaochuan's essay did not mention the dollar by name but said the crisis showed the dangers of relying on one nation's currency for international payments. In an unusual step, the essay was published in both Chinese and English, making clearit was meant for an international audience."The crisis called again for creative reform of the existing international monetary system towardsaninternational reserve currency," Zhou wrote. A reserve currency is the unit in which a government holds its reserves. But Zhou said the proposed new currency also should be used for trade, investment, pricing commodities and corporate bookkeeping. Beijing has long been uneasy about relying on the dollar for the bulk of its trade and to store foreign reserves. Premier Wen Jiabao publicly appealed to Washington this month to avoid any steps in response to the crisis that might erode the value of the dollar and Beijing's estimated $1 trillion holdings in Treasuries and other U.S. government debt. The currency should be based on shares in the IMF held by its 185 member nations, known as special drawing rights, or SDRs, the essay said. The Washington-based IMF advises governments on economic policy and lends money to help with balance-of-payments problems. Some economists have suggested creating a new reserve currency to reduce reliance on the dollar but acknowledge it would face major obstacles. It would require acceptance from nations that have long used the dollar and hold huge stockpiles of the U.S. currency.
"There has been for decades talk about creating an international reserve currency and it has never really progressed," said Michael Pettis, a finance professor at Peking University's Guanghua School of Management. Managing such a currency would require balancing the contradictory needs of countries with high and low growth or with trade surpluses or deficits, Pettis said. He said the 16 European nations that use the euro have faced "huge difficulties" in managing monetary policy even though their economies are similar. "It's hard for me to imagine how it's going to be easier for the world to have a common currency for trade," he said. China has pressed for changes to give developing countries more influence in the IMF, the World Bank and other finance bodies. G20 finance officials issued a statement at their last meeting calling for such changes but gave no details of how that might happen. Russia also has called for such reforms and says it will press its case at the London summit.
Zhou said the new currency would let governments manage their economies more efficiently because its value would not be influenced by any one nation's need to regulate its own finance and trade. "A super-sovereign reserve currency managed by a global institution could be used to both create and control global liquidity," Zhou wrote. "This will significantly reduce the risks of a future crisis and enhance crisis management capability." Zhou also called for changing how SDRs are valued. Currently, they are based on the value of four currencies - the dollar, euro, yen and British pound. "The basket of currencies forming the basis for SDR valuation should be expanded to include currencies of all major economies," Zhou wrote. "The allocation of the SDR can be shifted from a purely calculation-based system to one backed by real assets, such as a reserve pool, to further boost market confidence in its value."
The Board of Regents voted Friday
The Board of Regents voted Friday to go ahead with a budget request that is $61.5 million above what they were left with to run eight institutions after cuts this past year.The trouble is, said Greg Stauffer, the state's associate commissioner for finance and facilities, as the economy sours, it's not only the state appropriations that go into a tailspin, but financial aid options for students, overall family and individual incomes and federal research dollars and private donations, leaving higher education institutions running on the bare minimum."The economic environment clearly has a significant impact on the situation we're in," Stauffer said. "But then again, higher education clearly is the way out of a negative economy."Higher education can provide a great dividend in the long term, both to the state and to individuals who make it through graduation. Utah's support for its schools already is below the national average."Our institutions are complex financial organizations," said Paul Morris, assistant commissioner of budget and planning. He likened colleges and universities to miniature communities, responsible to provide education, but also housing, stores carrying supplies, activities for the community to participate in and food. "To pull all this off, we count on a lot of revenue sources," he said.The biggest revenue source for Utah schools is the state, in the form of sales and income tax allocated from the Education Fund. But schools also rely on tuition and fees from students.It all adds up to more than a billion dollars.With more than 13,000 employees relying on that revenue to pay their own bills, "it takes a lot of support to run an institution," Morris said.The ongoing cuts, which officials are estimating will continue at 17 percent, are a "hard reality" to face, Morris said. Increased enrollments set up the system for a perfect storm, one that if not handled correctly, could mean decreased efficiencies at Utah institutions."We hope at some point we get some funding to help with it all," Morris said.Included in the operating budget request summary is what Commissioner of Higher Education William Sederburg is calling "mission-based funding," or "an incentive for institutions to fulfill their missions with quality," he said. The $30 million request is a new take on what some other states are doing to be accountable for what they say they intend to do. For some schools, it would mean turning out research, others degrees, and for others, further development of programming.The details, Sederburg said, must still be worked out, but he asked regents for a "conceptual blessing," with a hope that a full agreement could be worked out in a couple of years.Other items in the budget increase include mandatory utility rate increases, full funding for various scholarship and scholars programs offered by the Utah System of Higher Education, as well as money for the Engineering Initiative and various institutional priorities.Regents also approved a list of their top-11 capital development priorities, which if accomplished, would cost $320 million. Rarely are all the building requests approved by the Legislature, but this year's projects, all highly prioritized by individual institution presidents, would generate nearly a million new square feet of building space, in the form of classrooms, labs, new infrastructure and remodeled student commons areas.
The Board of Regents voted Friday to go ahead with a budget request that is $61.5 million above what they were left with to run eight institutions after cuts this past year.The trouble is, said Greg Stauffer, the state's associate commissioner for finance and facilities, as the economy sours, it's not only the state appropriations that go into a tailspin, but financial aid options for students, overall family and individual incomes and federal research dollars and private donations, leaving higher education institutions running on the bare minimum."The economic environment clearly has a significant impact on the situation we're in," Stauffer said. "But then again, higher education clearly is the way out of a negative economy."Higher education can provide a great dividend in the long term, both to the state and to individuals who make it through graduation. Utah's support for its schools already is below the national average."Our institutions are complex financial organizations," said Paul Morris, assistant commissioner of budget and planning. He likened colleges and universities to miniature communities, responsible to provide education, but also housing, stores carrying supplies, activities for the community to participate in and food. "To pull all this off, we count on a lot of revenue sources," he said.The biggest revenue source for Utah schools is the state, in the form of sales and income tax allocated from the Education Fund. But schools also rely on tuition and fees from students.It all adds up to more than a billion dollars.With more than 13,000 employees relying on that revenue to pay their own bills, "it takes a lot of support to run an institution," Morris said.The ongoing cuts, which officials are estimating will continue at 17 percent, are a "hard reality" to face, Morris said. Increased enrollments set up the system for a perfect storm, one that if not handled correctly, could mean decreased efficiencies at Utah institutions."We hope at some point we get some funding to help with it all," Morris said.Included in the operating budget request summary is what Commissioner of Higher Education William Sederburg is calling "mission-based funding," or "an incentive for institutions to fulfill their missions with quality," he said. The $30 million request is a new take on what some other states are doing to be accountable for what they say they intend to do. For some schools, it would mean turning out research, others degrees, and for others, further development of programming.The details, Sederburg said, must still be worked out, but he asked regents for a "conceptual blessing," with a hope that a full agreement could be worked out in a couple of years.Other items in the budget increase include mandatory utility rate increases, full funding for various scholarship and scholars programs offered by the Utah System of Higher Education, as well as money for the Engineering Initiative and various institutional priorities.Regents also approved a list of their top-11 capital development priorities, which if accomplished, would cost $320 million. Rarely are all the building requests approved by the Legislature, but this year's projects, all highly prioritized by individual institution presidents, would generate nearly a million new square feet of building space, in the form of classrooms, labs, new infrastructure and remodeled student commons areas.
The Board of Regents voted Friday
The Board of Regents voted Friday to go ahead with a budget request that is $61.5 million above what they were left with to run eight institutions after cuts this past year.The trouble is, said Greg Stauffer, the state's associate commissioner for finance and facilities, as the economy sours, it's not only the state appropriations that go into a tailspin, but financial aid options for students, overall family and individual incomes and federal research dollars and private donations, leaving higher education institutions running on the bare minimum."The economic environment clearly has a significant impact on the situation we're in," Stauffer said. "But then again, higher education clearly is the way out of a negative economy."Higher education can provide a great dividend in the long term, both to the state and to individuals who make it through graduation. Utah's support for its schools already is below the national average."Our institutions are complex financial organizations," said Paul Morris, assistant commissioner of budget and planning. He likened colleges and universities to miniature communities, responsible to provide education, but also housing, stores carrying supplies, activities for the community to participate in and food. "To pull all this off, we count on a lot of revenue sources," he said.The biggest revenue source for Utah schools is the state, in the form of sales and income tax allocated from the Education Fund. But schools also rely on tuition and fees from students.
It all adds up to more than a billion dollars.With more than 13,000 employees relying on that revenue to pay their own bills, "it takes a lot of support to run an institution," Morris said.
The ongoing cuts, which officials are estimating will continue at 17 percent, are a "hard reality" to face, Morris said. Increased enrollments set up the system for a perfect storm, one that if not handled correctly, could mean decreased efficiencies at Utah institutions."We hope at some point we get some funding to help with it all," Morris said.Included in the operating budget request summary is what Commissioner of Higher Education William Sederburg is calling "mission-based funding," or "an incentive for institutions to fulfill their missions with quality," he said. The $30 million request is a new take on what some other states are doing to be accountable for what they say they intend to do. For some schools, it would mean turning out research, others degrees, and for others, further development of programming.The details, Sederburg said, must still be worked out, but he asked regents for a "conceptual blessing," with a hope that a full agreement could be worked out in a couple of years.Other items in the budget increase include mandatory utility rate increases, full funding for various scholarship and scholars programs offered by the Utah System of Higher Education, as well as money for the Engineering Initiative and various institutional priorities.Regents also approved a list of their top-11 capital development priorities, which if accomplished, would cost $320 million. Rarely are all the building requests approved by the Legislature, but this year's projects, all highly prioritized by individual institution presidents, would generate nearly a million new square feet of building space, in the form of classrooms, labs, new infrastructure and remodeled student commons areas.
Fraud Detection Using Neural Networks
Fraud Detection Using Neural Networks and Sentinel SolutionsFraud detection is a continuously evolving discipline and requires a tool that is intelligent enough to adapt to criminals strategies and ever changing tactics to commit fraud. Despite the best efforts of the FBI and other law enforcement organizations, fraud still costs American companies an overwhelming $400 billion (reference) each year. With the relatively recent growth of the Internet into a global economic force, credit card fraud has become more prevalent.
It is in a company and card issuer’s interest to prevent fraud or, failing this, to detect fraud as soon as possible. Otherwise consumer trust in both the card and the company decreases and revenue is lost, in addition to the direct losses made through fraudulent sales.
How do Neural Networks Help with Fraud Detection?
The inherit nature of neural networks is the ability to learn is being able to capture and represent complex input/output relationships. The motivation for the development of neural network technology stemmed from the desire to develop an artificial system that could perform "intelligent" tasks similar to those performed by the human brain. Neural networks resemble the human brain in the following two ways:
A neural network acquires knowledge through learning.
A neural network's knowledge is stored within inter-neuron connection strengths known as synaptic weights. The true power and advantage of neural networks lies in their ability to represent both linear and non-linear relationships and in their ability to learn these relationships directly from the data being modeled. Traditional linear models are simply inadequate when it comes to modeling data that contains non-linear characteristics. Sentinel is a complete solution designed to prevent, detect, analyze and follow up banking fraud in any entity or corporation in the financial business. Specific fraud detection solutions may include: With Sentinel your company can monitor the activities of accounts, cardholders and merchants by using a robust and powerful technology based on rules, parameters and indicators. In other words, you can obtain immediate results from the moment you install the software.
Sentinel allows you to: Process data from any origin, whether it comes from transactions, merchants or cardholders. Monitor issuer, acquirer or banking activities. Examine information by strategic business units such as countries, regions, banks, etc. Analyze data from a managerial perspective, through a technology known as “Business Intelligence.” Evaluate the performance of the rules created in the system and the profit generated by them. Minimize risk and loss due to banking fraud. What is Neural Fraud Management Systems (NFMS)? The Neural Fraud Management System is a completely automated and state-of-the-art integrated system of neural networks, Fraud Detection Engine, Automatic Modeling System (AMS), supervised clustering, and system retune. Combined with Sentinel the Neural Fraud Management System (NFMS) can automatically scale the relative importance of fraud to non-fraud, group symbols to reduce dimensionality, and evolve over time to detect new patterns and trend types in frauds.
By adding the intelligence of neural network technology to an already successful rule-based system, you can increase the detection of legitimate fraud transactions up to 80% with as low as 1% false detections or less!
How does NFMS work? The Neural Networks are completely adaptive able to learn from patterns of legitimate behavior and adapting to the evolving of behavior of normal transactions and patterns of fraud transactions and adapting to the evolving of the behavior of fraud transactions. The recall process of the Neural Networks is extremely fast and can make decisions in real time. Supervised Clustering uses a mix of traditional clustering and multi-dimensional histogram analysis with a discrete metric. The process is very fast and can make decisions in real time. Statistical Analysis ranks the most important features based on the joint distribution per transaction patterns. In addition, it finds the optimal subset of features and symbols with maximum information and minimum redundancy. The Fraud Detection Engine can apply the generated model by AMS on input data stream and output the detection results by specified model: Neural Networks, Clustering, and Combined. The Fraud Detection Engine supports both Windows and UNIX platforms. Retuning the basic model created by AMS to adapt to the recent trend of both the legitimate behavior and fraud behavior and update the model for Fraud Detection Engine. The Automatic Modeling System (AMS) chooses the important inputs and symbols, train and create clustering and neural network models.
Advantages Significantly reduces losses due to fraud. Identify new fraud methods to reduce fraud losses and minimize false positives. It can work in real time, online or batch modes.
Reinforce customer trust. Improve operational efficiencies. The system could develop better models by customizing the model to the Banks unique environment. Build and update models as the new business requirements or changes in the environment. The system gives you theflexibility to easily incorporate data from many sources to the neural models. You have the ability to build your own custom model, in house, without being an expert in AI programming. The final user could use the wizard-based interface to create new models or change the existing ones. Combine multiple Artificial Intelligence technologies to identify suspicious activity (clustering, neural networks, rules, profiles). It provides all life cycle to avoid fraud, including the stages: monitoring, preventing, detecting, registering, learning, self building. Boosts analyst productivity and improves effectiveness of fraud operations. Non intrusive implementation and easy to integrate with standard protocols: XML, SOAP / Web Services. Additionally NFMS provides API to enable an easy integration in the Bank environment if necessary.
More Than Pet Insurance
Too few drivers are aware of a dangerous scam taking place on the UK's roads which sees fraudsters purposefully bring about car crashes in order to claim insurance. More Than Pet Insurance: Recession brings cavalier attitude to pet health More Than Pet Insurance has conducted a survey which reveals that people in the UK are increasingly taking a cavalier attitude to the health and safety of their domestic animals as the recession bites. Care for animals 'goes out the window in cost cutting drive' Recent research by a pet insurance company suggests that the UK's reputation as a nation of animal lovers may be going out the window during the recession. More Than Legal Services offers debt advice More Than Legal Services has announced that it is offering a series of online tools aimed at helping people in the UK deal with debt during the credit crunch. More Than reveals deflation for businessesMore Than has revealed that the rate of inflation faced by small businesses has dropped into deflation, as costs continue to fall. More Than Home Insurance issues advice for wintery weather More Than Home Insurance has issued advice to UK homeowners on how to cope with the cold snap currently affecting the UK.
More Than Home Insurance launches new policy More Than Home Insurance has announced the launch of a new policy which it claims will "shake up the home insurance market". More Th>n Insurance warns customers about Christmas break-ins More Th>n Insurance has issued a warning to consumers to check their household contents policies in the run up to Christmas to ensure they offer adequate cover in the event of a break-in. More Th>n Home Insurance: Fires set to increase over Christmas More Tha>n Home Insurance has warned people to take particular care over house fires on Christmas Day, as last year saw a "sharp increase" in the number of fires reported. Halifax Insurance and More Than Business: Thieves and crashes more likely in dark times Halifax Home Insurance and More Than Business have warned about the increased risks of burglary and car crashes as the days become shorter. More Th>n: Inflation 10% for small businesses Small enterprises have been hit with inflation of ten per cent, double the official rate, according to research by insurance provider More Th>n. HSBC lowers rates HSBC is cutting costs on its fixed-rate mortgages, it has announced. Pet and holiday insurance advice from More Than and Legal and General Insurance provider More Than has urged pet buyers to research their animal's history and take out appropriate cover after the BBC documentary Pedigree Dogs Exposed. More Than: Parents are impatient during family car journeys Parents may be less patient than their children when it comes to travelling by car in the summertime, new research from More Than Car Insurance has revealed. Those aged 46 are worth the most in personal possessions in the home at £40,919, the Lifesworth report by MORE TH>N has found. More Than car insurance for woman launched Insurer More Than has announced the launch of a new policy designed to specifically meet the needs of female drivers and address the aspects of driving that women find most stressful.
More Than flood advice given As people across Britain face storms and flooding, More Than and Royal & SunAlliance have jointly issued some advice to those who may be affected. MORE TH>N insurance loyalty schemes launched Two freshly-introduced MORE TH>N insurance customer loyalty initiatives are meant to reward those who stick with the provider. More Than car insurance warning for drivers abroad Car insurance provider More Than has issued a warning to UK motorists planning on driving during trips abroad. More Than issues EPA call The recent change in how one goes about implementing power of attorney has caught many Britons off guard, More Than has claimed. More Than home insurance extended to students More Than insurance 'tackling' climate change Free More Than Roadside Assistance launched More Than travel insurance launched \More Than DriveTime 'increases road safety' Gossips costing billions says More Than More Than Pet Saver targets budget pet owners More Than Car Insurance DriveTime aims to young driver death toll More Than Home Insurance issues crime risk warning Don't neglect pets in the summer sun, says More Than Pet Insurance Don't neglect pets in the summer sun, says More Than Pet Insurance More Than Home Insurance: Brits trust abused by 'non-residents' in their homes.
Wednesday, September 9, 2009
Investigators looking for the Air France
PARIS – Investigators looking for the Air France plane that disappeared into the Atlantic Ocean in June still cannot explain the crash and need more money and resources to search for the aircraft's data recorders, the man leading the probe said Monday."At the moment, we can't explain the accident," said Paul-Louis Arslanian, head of France's Bureau of Investigation and Analysis, or BEA.He said a third, more meticulous search for plane debris and the flight recorders, should begin before the end of the year, but could cost tens of millions of euros (dollars)."We are making progress and will make progress and I'm optimistic, but this will take time," he told journalists in Paris. "It takes a year and a half, being responsible and reasonable, in order to make progress and ensure that we've run through all of the questions."Investigators still don't know exactly where the Airbus A330 flying from Rio to Paris crashed, killing all 228 people aboard, or what caused the June 1 accident, Arslanian told a gathering of aerospace journalists in Paris.The search has so far failed to locate the plane's data recorders, without which the full causes of the crash may never be fully known — but investigators don't want to give up.Arslanian said planemaker Airbus has offered to help fund the efforts, but more commitments are needed."We have to mobilize resources. It's not only having promises for money, we need to know who will contribute financially and how," he said.Arslanian said around 1,000 parts of the plane have so far been recovered from the Atlantic Ocean — including a nearly intact tail, an engine cover, uninflated life jackets, seats and kitchen items.The BEA, together with an international team of experts, has been studying the data gathered from two phases of research to decide what a third search phase would cost and require. The second phase of the search began after the black boxes stopped emitting signals, about a month after the crash.The crash site is more than 900 miles(1,450 kilometers) off Brazil's northeastern coast. A preliminary report into the crash said the plane hit the ocean intact and belly first at a high rate of speed. Investigators have announced no signs of explosion or terrorism.The Brazilian authorities have yet to send detailed information about the autopsies on the 50 bodies that have been recovered, although the BEA is working with general information obtained from French authorities, Arslanian said. He said the agency has not issued a recommendation to airlines over speed measuring equipment because he doesn't have the evidence to justify it.Since the accident, European air safety regulators have told world airlines to replace hundreds of air speed sensors of the type fitted to the crashed plane.A series of automatic messages sent by the plane point to a malfunction of the external speed monitors, known as Pitot tubes, which some experts think may have iced over and given false speed readings to the Air France plane's computers as it ran into a turbulent thunderstorm."If I had thought it was important to make a recommendation, I would have done it," Arslanian said.Problems with Pitots are not unusual, but the malfunction doesn't normally last longer than a few seconds, he said. The BEA is also working with authorities from Yemen and Comoros to find the causes of the Yemenia Airways crash last June, which killed 152 people. The recently recovered black boxes from that crash should arrive in France on Monday with the Comoran investigators and will be examined by the BEA, Arslanian said.the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. Article Font Size Economic activity
Fed Minutes: Recession Is Over, Growth Ahead Wednesday, September 9, 2009 2:35 PM Article Font Size Economic activity is stabilizing or improving in most of the U.S., according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow once again in the current quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook. The assessments of businesses on the front lines of the economy was brighter than those they provided for the previous Fed report in late July. At that time, most regions said the recession was easing its grip and some of them reported signs that activity was leveling off. In Wednesday's survey, the Dallas region indicated that economic activity had "firmed." The Fed regions of Boston, Cleveland, Philadelphia, Richmond and San Francisco mentioned "signs of improvement." The Atlanta, Chicago, Kansas City, Minneapolis and New York regions described activity as "stable or showing signs of stabilization." Analysts predict the economy is growing in the current July-September quarter at anywhere between 3 and 4 percent. Most of that growth should come from more spending from businesses, which had slashed investments -- often by double-digits -- during the recession. Consumer spending, however, is expected to turn up only because of the binge-buying of automobiles generated by the short-lived Cash-for-Clunkers program. Buyers were given cash rebates to trade in less efficient gas guzzlers. The Fed's survey found that the majority of regions did report that the government's clunkers program "boosted traffic and sales." But aside from brisk businesses at auto dealerships, other merchants struggled. Consumer spending remained "soft" in most Fed regions. Manufacturing, meanwhile, reported "modest" improvements. Residential realestate markets, which were clobbered during the downturn, also flashed signs of improvements. But the commercial real-estate market continued to be a drag in most markets. quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook. The assessments of businesses on the front lines of the economy was brighter than those they provided for the previous Fed report in late July. At that time, most regions said the recession was easing its grip and some of them reported signs that activity was leveling off. In Wednesday's survey, the Dallas region indicated that economic activity had "firmed." The Fed regions of Boston, Cleveland, Philadelphia, Richmond and San Francisco mentioned "signs of improvement." The Atlanta, Chicago, Kansas City, Minneapolis and New York regions described activity as "stable or showing signs of stabilization." Analysts predict the economy is growing in the current July-September quarter at anywhere between 3 and 4 percent. Most of that growth should come from more spending from businesses, which had slashed investments -- often by double-digits -- during the recession. Consumer spending, however, is expected to turn up only because of the binge-buying of automobiles generated by the short-lived Cash-for-Clunkers program. Buyers were given cash rebates to trade in less efficient gas guzzlers. The Fed's survey found that the majority of regions did report that the government's clunkers program "boosted traffic and sales." But aside from brisk businesses at auto dealerships, other merchants struggled. Consumer spending remained "soft" in most Fed regions. Manufacturing, meanwhile, reported "modest" improvements. Residential realestate markets, which were clobbered during the downturn, also flashed signs of improvements. But the commercial real-estate market continued to be a drag in most markets. quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook. The assessments of businesses on the front lines of the economy was brighter than those they provided for the previous Fed report in late July. At that time, most regions said the recession was easing its grip and some of them reported signs that activity was leveling off. In Wednesday's survey, the Dallas region indicated that economic activity had "firmed." The Fed regions of Boston, Cleveland, Philadelphia, Richmond and San Francisco mentioned "signs of improvement." The Atlanta, Chicago, Kansas City, Minneapolis and New York regions described activity as "stable or showing signs of stabilization." Analysts predict the economy is growing in the current July-September quarter at anywhere between 3 and 4 percent. Most of that growth should come from more spending from businesses, which had slashed investments -- often by double-digits -- during the recession. Consumer spending, however, is expected to turn up only because of the binge-buying of automobiles generated by the short-lived Cash-for-Clunkers program. Buyers were given cash rebates to trade in less efficient gas guzzlers. The Fed's survey found that the majority of regions did report that the government's clunkers program "boosted traffic and sales." But aside from brisk businesses at auto dealerships, other merchants struggled. Consumer spending remained "soft" in most Fed regions. Manufacturing, meanwhile, reported "modest" improvements. Residential realestate markets, which were clobbered during the downturn, also flashed signs of improvements. But the commercial real-estate market continued to be a drag in most markets. quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook. The assessments of businesses on the front lines of the economy was brighter than those they provided for the previous Fed report in late July. At that time, most regions said the recession was easing its grip and some of them reported signs that activity was leveling off. In Wednesday's survey, the Dallas region indicated that economic activity had "firmed." The Fed regions of Boston, Cleveland, Philadelphia, Richmond and San Francisco mentioned "signs of improvement." The Atlanta, Chicago, Kansas City, Minneapolis and New York regions described activity as "stable or showing signs of stabilization." Analysts predict the economy is growing in the current July-September quarter at anywhere between 3 and 4 percent. Most of that growth should come from more spending from businesses, which had slashed investments -- often by double-digits -- during the recession. Consumer spending, however, is expected to turn up only because of the binge-buying of automobiles generated by the short-lived Cash-for-Clunkers program. Buyers were given cash rebates to trade in less efficient gas guzzlers. The Fed's survey found that the majority of regions did report that the government's clunkers program "boosted traffic and sales." But aside from brisk businesses at auto dealerships, other merchants struggled. Consumer spending remained "soft" in most Fed regions. Manufacturing, meanwhile, reported "modest" improvements. Residential realestate markets, which were clobbered during the downturn, also flashed signs of improvements. But the commercial real-estate market continued to be a drag in most markets. quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook. The assessments of businesses on the front lines of the economy was brighter than those they provided for the previous Fed report in late July. At that time, most regions said the recession was easing its grip and some of them reported signs that activity was leveling off. In Wednesday's survey, the Dallas region indicated that economic activity had "firmed." The Fed regions of Boston, Cleveland, Philadelphia, Richmond and San Francisco mentioned "signs of improvement." The Atlanta, Chicago, Kansas City, Minneapolis and New York regions described activity as "stable or showing signs of stabilization." Analysts predict the economy is growing in the current July-September quarter at anywhere between 3 and 4 percent. Most of that growth should come from more spending from businesses, which had slashed investments -- often by double-digits -- during the recession. Consumer spending, however, is expected to turn up only because of the binge-buying of automobiles generated by the short-lived Cash-for-Clunkers program. Buyers were given cash rebates to trade in less efficient gas guzzlers. The Fed's survey found that the majority of regions did report that the government's clunkers program "boosted traffic and sales." But aside from brisk businesses at auto dealerships, other merchants struggled. Consumer spending remained "soft" in most Fed regions. Manufacturing, meanwhile, reported "modest" improvements. Residential realestate markets, which were clobbered during the downturn, also flashed signs of improvements. But the commercial real-estate market continued to be a drag in most markets.Nationwide Building Society
Nationwide Building Society claims that consumers are starting to feel confident again about the economic situation in the UK for the first time since April.
AXA Sun Life Direct advises people to make provisions for funeral
Wed 9th Sep 2009
AXA Sun Life Direct has advised people that funeral prices are expected to rise, so it is sensible to make provisions for them early.
People must 'stay secure when banking online' Wed 9th Sep 2009
Consumers have been advised to stay as secure as they can when banking online in order to benefit from the convenience it offers.
NatWest and RBS's actions are a surprise, says Moneynet
Wed 9th Sep 2009 The decision by NatWest and Royal Bank of Scotland (RBS) to lower their fees for unarranged overdrafts has come as a surprise, according to Moneynet.
Co-operative Travel: More consumer insurance protection needed
Wed 9th Sep 2009 Co-operative Travel has called for more protection for those holidaymakers who book their flights independently rather than as part of a package deal.
Aviva warns commercial customers of fire risk Wed 9th Sep 2009
Aviva has advised its business customers to be aware of the threat of arson because fire damage claims are rising.
Saga over-50s motorcycle insurance announced Wed 9th Sep 2009
Saga has released a new motor insurance product to cover over-50s on motorbikes as the pastime gains popularity.
Moneyfacts: Only mortgage lenders feel benefit of low base rate
Wed 9th Sep 2009
Moneyfacts has claimed that borrowers looking for a new mortgage have not been benefiting from the base rate being at 0.5 per cent for half a year.
Leeds Building Society announces Albion Saver account
Wed 9th Sep 2009
Leeds Building Society has unveiled its new branch-based Albion Saver account, which it claims is a straightforward account with an excellent return.
Personal debt 'has become more complicated'
Tue 8th Sep 2009
Personal debt problems have become more complicated in the past few years because of changes in income and people having mortgage arrears, says a debt expert.
People are 'right to trust banks less'
Tue 8th Sep 2009
People are right to trust banks less in some cases, because many of them are not offering a good enough service, according to an industry commentator.
Nationwide unveils new interest rates for savings products
Tue 8th Sep 2009
Nationwide Building Society has revealed the new interest rates for their one-year term Fixed-Rate, Guaranteed Savings and e-Bond.
Halifax: Mature gap years require planning
Tue 8th Sep 2009
Halifax has encouraged older people to take a gap year but it advised that it would require some planning to make sure it goes without a hitch.
Lloyds TSB notes upwards trend in business confidence
Tue 8th Sep 2009
There is an upward trend in the confidence which businesses are exhibiting as global demand is stabilising, according to Lloyds TSB.
Nottingham Building Society says it is evolving
Tue 8th Sep 2009
Nottingham Building Society has said that it is evolving to meet its customers' needs by launching a financial planning service.
Natwest and RBS were brave to slash fees, says uSwitch
Tue 8th Sep 2009
Natwest and RBS's decision to cut the cost of charges and fees has been described as brave by uSwitch.
Confused.com advises people to pay off credit cards
Tue 8th Sep 2009
Confused.com has told people to pay off their credit cards as a priority because it is their most expensive debt.
M&S Money Travel Insurance: Passengers worried by airline collapses
Mon 7th Sep 2009
M&S Money has reassured its customers that Independent Traveller policyholders will be insured against airline collapses.
Sainsbury's Finance Online Saver launched
Mon 7th Sep 2009
Sainsbury's Finance has launched its Online Saver account, which pays out three per cent gross interest each year.
Nationwide e-Savings Plus account increases maximum balance
Mon 7th Sep 2009
Nationwide has increased the maximum balance that it allows on its e-Savings Plus account to £3 million.
google_protectAndRun("render_ads.js::google_render_ad", google_handleError, google_render_ad);
AXA Sun Life Direct advises people to make provisions for funeral
Wed 9th Sep 2009
AXA Sun Life Direct has advised people that funeral prices are expected to rise, so it is sensible to make provisions for them early.
People must 'stay secure when banking online' Wed 9th Sep 2009
Consumers have been advised to stay as secure as they can when banking online in order to benefit from the convenience it offers.
NatWest and RBS's actions are a surprise, says Moneynet
Wed 9th Sep 2009 The decision by NatWest and Royal Bank of Scotland (RBS) to lower their fees for unarranged overdrafts has come as a surprise, according to Moneynet.
Co-operative Travel: More consumer insurance protection needed
Wed 9th Sep 2009 Co-operative Travel has called for more protection for those holidaymakers who book their flights independently rather than as part of a package deal.
Aviva warns commercial customers of fire risk Wed 9th Sep 2009
Aviva has advised its business customers to be aware of the threat of arson because fire damage claims are rising.
Saga over-50s motorcycle insurance announced Wed 9th Sep 2009
Saga has released a new motor insurance product to cover over-50s on motorbikes as the pastime gains popularity.
Moneyfacts: Only mortgage lenders feel benefit of low base rate
Wed 9th Sep 2009
Moneyfacts has claimed that borrowers looking for a new mortgage have not been benefiting from the base rate being at 0.5 per cent for half a year.
Leeds Building Society announces Albion Saver account
Wed 9th Sep 2009
Leeds Building Society has unveiled its new branch-based Albion Saver account, which it claims is a straightforward account with an excellent return.
Personal debt 'has become more complicated'
Tue 8th Sep 2009
Personal debt problems have become more complicated in the past few years because of changes in income and people having mortgage arrears, says a debt expert.
People are 'right to trust banks less'
Tue 8th Sep 2009
People are right to trust banks less in some cases, because many of them are not offering a good enough service, according to an industry commentator.
Nationwide unveils new interest rates for savings products
Tue 8th Sep 2009
Nationwide Building Society has revealed the new interest rates for their one-year term Fixed-Rate, Guaranteed Savings and e-Bond.
Halifax: Mature gap years require planning
Tue 8th Sep 2009
Halifax has encouraged older people to take a gap year but it advised that it would require some planning to make sure it goes without a hitch.
Lloyds TSB notes upwards trend in business confidence
Tue 8th Sep 2009
There is an upward trend in the confidence which businesses are exhibiting as global demand is stabilising, according to Lloyds TSB.
Nottingham Building Society says it is evolving
Tue 8th Sep 2009
Nottingham Building Society has said that it is evolving to meet its customers' needs by launching a financial planning service.
Natwest and RBS were brave to slash fees, says uSwitch
Tue 8th Sep 2009
Natwest and RBS's decision to cut the cost of charges and fees has been described as brave by uSwitch.
Confused.com advises people to pay off credit cards
Tue 8th Sep 2009
Confused.com has told people to pay off their credit cards as a priority because it is their most expensive debt.
M&S Money Travel Insurance: Passengers worried by airline collapses
Mon 7th Sep 2009
M&S Money has reassured its customers that Independent Traveller policyholders will be insured against airline collapses.
Sainsbury's Finance Online Saver launched
Mon 7th Sep 2009
Sainsbury's Finance has launched its Online Saver account, which pays out three per cent gross interest each year.
Nationwide e-Savings Plus account increases maximum balance
Mon 7th Sep 2009
Nationwide has increased the maximum balance that it allows on its e-Savings Plus account to £3 million.
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Tuesday, September 8, 2009
The UK saw its first quarterly growth since
This is Money8 September 2009, 5:05pmThe UK saw its first quarterly growth since May last year in the three months to August, an economic forecaster said today.
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The National Institute of Economic and Social Research's (NIESR) latest estimate showed a 0.2% rise in output in the period after a 0.3% decline in the three months to July.
NIESR said the figures reinforced its view that the recession ended in May - although the body predicted earlier this year that the downturn ended in March.
The forecaster warned however a return to growth should not be confused with a full economic recovery.
It added: 'There may well be a period of stagnation now, with output rising in some months and falling in others; the end of the recession should not be confused with a return to normal economic conditions.'
Experts predict estimates from the Office for National Statistics on output for the June to September period to a show a return to growth after a decline of 0.7% during the second quarter.
Manufacturing figures today showed a 0.9% rise in output between June and July - the sector's best performance in more than three years - boosted by recovering production among car makers. The news helped sterling hit its highest level in two weeks against the dollar today, moving 1% higher to $1.652.
Also today, Chancellor Alistair Darling admitted the country would need to cut spending when the economy fully recovered, without spelling out where the axe would fall. In a speech in Wales, he also said cutting spending now would 'kill off' the recovery.
However, he was given a timely reminder of the danger of Britain's rising debt problem. It emerged that the UK slipped from 12th to 13th in the World Economic Forum's global league table of competitiveness. WEF cited Britain's reliance on financial services and 'exploding' public-sector debt.
$36.95 US each. The shares closed in NYSE trading Tuesday at $39.30
Barrick Gold will eliminate its longstanding practice of hedging some of its gold production, saying it sees a rosy future for the price of the precious metal.The Toronto-based gold giant said it would raise $3 billion US by selling 81.2 million shares at a price of $36.95 US each. The shares closed in NYSE trading Tuesday at $39.30 US.Barrick Gold 3-month NYSE chart The $3 billion would be used to implement its new strategic direction — $1.9 billion would be spent on eliminating all of its fixed price gold hedge contracts within the next year. Another $1 billion would eliminate a portion of its floating spot price gold contracts. The company said it would take a $5.6 billion charge to its earnings in the third quarter as a result of a change in accounting treatment for the contracts. Barrick said all of its future production would be directly tied to gold prices because it thinks gold prices will continue to rise. Gold futures topped $1,000 an ounce on Tuesday for the first time since February. In a statement issued late Tuesday, the company said it expects "global monetary and fiscal reflation will be necessary for years to come, resulting in an increased risk of higher inflation and a future negative impact on the value of global currencies."
It also cited "robust gold supply/demand fundamentals." Barrick officials said the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold. the hedging contracts that had prevented the company from taking full advantage of the recent upswing in gold prices were hurting the company's bottom line and its share price. For many years, Barrick has engaged in hedging selling much of its production at pre-determined prices. That guaranteed a certain minimum price for its gold but prevented it from taking full advantage of rising gold prices. "The gold hedge book has been a particular concern among our shareholders and the broader market, which we believe has obscured the many positive developments within the company," Barrick CEO Aaron Regent said in a statement. "As a result of today's decision, we have addressed that concern and maintained our financial flexibility." The company announced in 2003 that it would end its hedging program within 10 years. Barrick Gold is the world's largest producer of gold.
Bell Canada paid $135 million for The Source
Telus said Black's would add Telus wireless products and services to its locations across the country. "Black's premium locations provide an established network across Canada for the distribution of Telus' wireless products, which nicely complements our extensive network of dealers and stores," said Telus consumer solutions president Joe Natale in a release."In anticipation of our clients' evolving needs and as more wireless devices have embedded high-quality photo and video capability, there is a natural link between Telus and Black's," he said. Black's president and general manager Ethel Taylor will stay in the position. Black's was founded in 1930. More than 80 of its 113 locations are in Ontario — a key battleground province where Telus is currently the No. 3 wireless carrier. Retail distribution key The Telus strategy is a familiar one for Canadian telecoms fighting for market share. Earlier this summer, Bell Canada paid $135 million for The Source — a chain of 750 stores that used to be known as Radio Shack in Canada before Circuit City bought them in 2004. Bell's purchase was designed to boost sales of Bell and Virgin Mobilewireless products. Bell owns Virgin Mobile Canada. Distribution is key as new entrants in the wireless arena will be appearing on the national stage in the next few months, challenging the three dominant players — Telus, Bell and Rogers. "New players are coming in, so the strategy seems to be saturate the market with physical presence and don't give the newcomers an opportunity to get a physical visibility in the eyes of Canadians," telecom analyst Carmi Levy of AR Communications said.With files from The Canadian Press a familiar one for Canadian telecoms fighting for market share. Earlier this summer, Bell Canada paid $135 million for The Source — a chain of 750 stores that used to be known as Radio Shack in Canada before Circuit City bought them in 2004. Bell's purchase was designed to boost sales of Bell and Virgin Mobilewireless products. Bell owns Virgin Mobile Canada. Distribution is key as new entrants in the wireless arena will be appearing on the national stage in the next few months, challenging the three dominant players — Telus, Bell and Rogers. "New players are coming in, so the strategy seems to be saturate the market with physical presence and don't give the newcomers an opportunity to get a physical visibility in the eyes of Canadians," telecom analyst Carmi Levy of AR Communications said.With files from The Canadian Press a familiar one for Canadian telecoms fighting for market share. Earlier this summer, Bell Canada paid $135 million for The Source — a chain of 750 stores that used to be known as Radio Shack in Canada before Circuit City bought them in 2004. Bell's purchase was designed to boost sales of Bell and Virgin Mobilewireless products. Bell owns Virgin Mobile Canada. Distribution is key as new entrants in the wireless arena will be appearing on the national stage in the next few months, challenging the three dominant players — Telus, Bell and Rogers. "New players are coming in, so the strategy seems to be saturate the market with physical presence and don't give the newcomers an opportunity to get a physical visibility in the eyes of Canadians," telecom analyst Carmi Levy of AR Communications said.With files from The Canadian Press a familiar one for Canadian telecoms fighting for market share. Earlier this summer, Bell Canada paid $135 million for The Source — a chain of 750 stores that used to be known as Radio Shack in Canada before Circuit City bought them in 2004. Bell's purchase was designed to boost sales of Bell and Virgin Mobilewireless products. Bell owns Virgin Mobile Canada. Distribution is key as new entrants in the wireless arena will be appearing on the national stage in the next few months, challenging the three dominant players — Telus, Bell and Rogers. "New players are coming in, so the strategy seems to be saturate the market with physical presence and don't give the newcomers an opportunity to get a physical visibility in the eyes of Canadians," telecom analyst Carmi Levy of AR Communications said.With files from The Canadian Press
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