WASHINGTON (AP) — Republicans are using everything short of forklifts to show Americans that Democratic health care legislation is an unwieldy mountain of paper. They pile it high on desks, hoist it on a shoulder trussed in sturdy rope and tell people it’s longer than “War and Peace,” which it isn’t. AP – FILE – In this Nov. 5, 2009, file photo Rep. Steve King, R-Iowa, holds a copy of the … Although they complain they don’t have time to read all of it, they found the time to tape it together, page by page, so they could roll it up the steps of the Capitol like super-sized toilet paper and show how very long it is. Size matters in the health care debate because Republicans have turned the length of the legislation into a symbol: Big, unwieldy bill means big, overreaching government. Even bigger when you display double-spaced copies with double-wide margins and large print — then pile copies of the House and Senate bills together so that the cameras see something monstrously tall. Lawmakers routinely debate massive legislation without absorbing every word. They employ people to find what matters to them. Indeed, legislation of comparable size was used to redefine an area of much more limited federal responsibility, education. That was the No Child Left Behind Act from the agenda of Republican President George W. Bush. The nation’s health care system accounts for one-sixth of the economy and no one really expects brevity when reinventing something so complex. No one really expects the Republicans’ theatrical legislation inflation to stop, either. Five Republican senators displayed the massive legislation on their desks during the weekend vote to bring the Senate health bill to full debate, as GOP lawmakers have been doing since the House bill came out earlier. As if he risked a hernia carrying it any other way, Republican Rep. Steve King of Iowa was seen carrying the House Democratic bill on his shoulder, all roped together. GOP Rep. John Culberson of Texas brought a copy to a Capitol Hill rally and threw its loose pages to the crowd, like meat to lions. The actual Senate bill, which Majority Leader Harry Reid introduced last week, came in at 2,074 double-spaced pages, 84 more pages than the House version, which was already being ridiculed for its size. “That’s larger than the novel ‘War and Peace,’” Republican Sen. Orrin Hatch of Utah said of the Senate bill. “Exceeding even ‘War and Peace’ in length,” Rep. Roy Blunt, R-Mo., said of the House bill. Said Rep. Joe Barton, R-Texas: “‘War and Peace’ — some people consider it the greatest book ever written, but most people recognize the novel because at 1,284 pages its length is often the butt of jokes. Now imagine trying to read something that long overnight.” Actually, Leo Tolstoy’s tome is longer than either bill. Full translated versions are nearly twice as long. The bill passed by the House is 319,145 words. The Senate bill is 318,512 words, shorter than the House version despite consuming more paper. Various versions of Tolstoy’s novel are 560,000 to 670,000 words. Bush’s education act tallied more than 280,000 words. By now, the full draft of Reid’s bill that had circulated in the corridors and landed so prominently on Republican desks has been published in the Congressional Record in the official and conventional manner. The type is small and tight. No hernias will be caused by moving this rendering of the bill around. Unfurling it on the Capitol steps would not be much of a spectacle. It’s 209 pages. Associated Press writer Ann Sanner contributed to this report. Originally posted here: SPIN METER: ‘War and Peace’ in 209 pages? (AP)

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NEW YORK, Nov 24 (Reuters) – U.S. gold futures ended higher in very heavy trade Tuesday, driven by option-related buying and fund interest, and investors continued see pullbacks in the metal as buying opportunities, traders said. For the latest detailed report, click on [GOL/]. GOLD * COMEX December gold GCZ9 settles up $1.10 at $1,165.80 an ounce on the NYMEX. * Ranged from $1,157.70 to $1,171.70. December hit an all-time high $1,174 on Monday. * Gold futures supported by options-related buying after Monday’s option expiration – George Gero at RBC. * Bullion holds gains in spite of a slight dollar rise amid an equities market retreat. * Gold market sees drops as opportunities to buy absent a major correction – Miguel Perez-Santalla at Heraeus. * Ethiopia signed a deal for a Saudi firm to extract an estimated 20 tonnes of recoverable gold found in the Horn of African country last month. [ID:nGEE5AN1WS] * Gold-to-oil ratio above 15. It was last at 15.34, up from the previous session’s 15, as oil drops 2 percent. * COMEX estimated final volume at a very busy 323,712 lots, driven by options-related buying. * Spot gold XAU= at $1,167.50 an ounce at 3:23 p.m. EST (2023 GMT), compared with $1,165.85 late in the previous session in New York. * London’s afternoon gold fix XAUFIX= at $1,163.25 an ounce. * For a gold price interactive graphic: here > SILVER * December silver SIZ9 ends down 15.5 cents at $18.455 an ounce, as investors lock in profits. * Technical resistance seen at breaking above the $19 an ounce level – traders * Ranged from $18.330 to $18.680. * COMEX estimated final volume at a heavy 78,379 lots, partially due to December option expiration on Monday. * Spot silver XAG= was at $18.52, against $18.59 in the previous session in New York. * London silver fix XAGFIX= at $18.57. PLATINUM * January platinum PLF0 finishes down $23.80, or 1.6 percent, at $1,443.80 an ounce as the market takes a breather after Monday’s rally. * Spot platinum XPT= $1,446.50 an ounce. PALLADIUM * December palladium PAZ9 closes down $4.05, or 1.1 percent, at $369.25 an ounce on platinum’s weakness. * Spot palladium XPD= $369.75 an ounce. Close Change Pct 2008 YTD Chg Close % Chg US gold GCZ9 1165.80 1.1 0.1 884.3 31.8 US silver SIZ9 18.455 -0.155 -0.8 11.295 63.4 US platinum PLF0 1443.80 -23.80 -1.6 941.50 53.4 US palladium PAZ9 369.25 -4.05 -1.1 188.70 95.7 Prices at 3:21 p.m. EST (2021 GMT) Gold XAU= 1167.00 1.15 0.1 878.20 32.9 Silver XAG= 18.50 -0.09 -0.5 11.30 63.7 Platinum XPT= 1443.50 -11.00 -0.8 924.50 56.1 Palladium XPD= 369.75 0.750 0.2 184.50 100.4 Gold Fix XAUFIX= 1163.25 -7.00 -0.6 836.50 39.1 Silver Fix XAGFIX= 18.57 -19.00 -1.0 14.76 25.8 Platinum Fix XPTFIX= 1458.00 5.00 0.3 1529 -4.6 Palladium FixXPDFIX= 371.00 0.50 0.1 365.0 1.6 (Reporting by Frank Tang ; Editing by Lisa Shumaker) ((frank.tang@thomsonreuters.com; +1 646 223 6126; Reuters Messaging: frank.tang.reuters.com@reuters.net)) ((For help: Click “Contact Us” in your desk top, click here [HELP] or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546)) © Thomson Reuters 2009 All rights reserved Originally posted here: US gold ends up on options-related buying, funds (at Reuters)

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ATLANTA–(BUSINESS WIRE)–The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for physical damage caused by a tornado and severe storms that occurred on October 9, 2009 in Kentucky. The deadline to file an application for physical damage is December 28, 2009 . Homeowners, renters, non-profit organizations and businesses of all sizes in Casey County and the adjacent counties of Adair, Boyle, Lincoln, Marion, Pulaski, Russell and Taylor in Kentucky are eligible to apply for physical disaster assistance. The SBA offers loans up to $200,000 to repair disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses and non-profit organizations of all sizes are available up to $2 million to repair or replace damage to real estate, machinery, inventory and equipment. SBA Economic Injury Disaster Loans (EIDLs) are available to small businesses and most private non-profit organizations of all sizes to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Interest rates are as low as 2.750 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. The SBA also offers mitigation funds to disaster victims up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures which may prevent damages of the same kind in the future. To obtain program information or a loan application, call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m. EST or by sending an e-mail to disastercustomerservice@sba.gov . Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disaster assistance . Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Those affected by the disaster may apply for disaster loans from SBA’s secure Web site at https://disasterloan.sba.gov/ela/ . The filing deadline to return applications for physical damage is December 28, 2009 . The deadline to return economic injury applications is July 29, 2010 . For more information about the SBA’s Disaster Loan Programs, visit our Web site at www.sba.gov/services/disasterassistance . Release Number: 10-092, KY 11922/11923 Original post: SBA’s Disaster Assistance Deadline for Physical Damage Is December 28 (Business Wire)

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PHILADELPHIA (AP) — Shares of Brocade Communications Systems Inc. fell Tuesday after the company denied speculation that it’s looking for a buyer. “That’s just wrong. Why would we want to go ahead and do that when we have never been in a better position than we are today?” CEO Mike Klayko said in a corporate video on fourth quarter results. He said Brocade has taken the trouble to provide a full suite of products and services to compete with larger competitors and it’s “winning.” Shares of Brocade fell 71 cents, or 9.1 percent, to $7.09 in afternoon trading on heavy volume. “Brocade’s stock is under a little bit of pressure since investors hoping for an acquisition are exiting the stock,” said Wedbush Morgan analyst Kaushik Roy in a research note. Late Monday, the networking equipment maker also warned that the first quarter won’t be as strong as the same quarter in past years and an overall rebound isn’t expected until the back end of fiscal 2010. First-quarter revenue should be up 4 to 5 percent from the fourth quarter instead of the typical seasonal increase of 6 to 8 percent. The second and third quarter revenue could see no increase to some lift, and a strong fourth quarter is expected. Brocade reported fourth-quarter earnings of $33.6 million, or 7 cents per share, compared with $35.6 million, or 9 cents per share, a year ago. Excluding one-time items, earnings would have been 15 cents per share, beating the expectations of analysts surveyed by Thomson Reuters. Revenue rose 31 percent to $521.8 million on strong growth in product sales helped by the company’s Foundry Networks acquisition, topping analysts’ $521.1 million estimate. Shares of Brocade, based in San Jose, Calif., fell 18 cents, or 2.3 percent, to $7.62 in premarket trading. Read the original here: Brocade CEO says company not for sale, shares drop (AP)

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* US 1-month bill sale captures highest bidding in a month * Dollar 3-month Libor hits record low, euro rates rise * European traders wary of ECB’s moves toward policy exit (Updates market action; dateline previously LONDON) By Richard Leong and Kirsten Donovan NEW YORK/LONDON, Nov 24 (Reuters) – The rates on most U.S. Treasury bills traded steady to slightly higher on Tuesday amid shrinking supply and intense year-end appetite for the ultra low-risk, cash-like investments. Investors snatched up $32 billion of one-month T-bills at a high rate of 0.06 percent, 1 basis point higher than last week’s auction for this maturity. See [ID;nTAR000548] Bidding for the latest one-month supply was the strongest in a month. The bid-to-cover ratio came in at 4.38, higher than 3.79 last week but below 4.62 a month ago. USAUCTION7 Fund managers who reaped profits on a rebound on Wall Street and other risky assets this year have been socking their gains into T-bills in an effort to protect them, analysts said. “Many people who made money are shutting down and putting money into riskless assets,” said Eric Lascelles, chief economics and rates strategist with TD Securities in Toronto. The tremendous bids for T-bills have occurred even at the expense of money market funds, which had traditionally been viewed as a safe haven to park cash until they were roiled by Lehman Brothers’ collapse during last year’s credit crisis. The Investment Company Institute reported money market fund assets fell $71.2 billion in October, following a $126.9 billion drop in September. For more, see [ID:nWAT013937] In the London interbank market, benchmark three-month dollar Libor rates USD3MFSR= edged to a record low of 0.26063 percent, only 1 basis point away from the top end of the Federal Reserve’s current range on its policy rate. The U.S. central bank has signaled it will hold short-term rates near zero in a bid to foster an economic recovery. On Tuesday, it released minutes of its November policy meeting, which showed policy makers are increasingly confident in a durable U.S. recovery even though they do not see employment picking up soon. For more, see [ID:nWEQ003609] EURO RATES RISE Across the Atlantic, interbank lending rates for euros edged higher with central bank exit policy in focus after the European Central Bank last week took a first tentative step toward implementing tighter monetary conditions. Three-month euro Libor rates EUR3MFSR= were marginally higher at 0.67688 percent, while one-year rates EUR1YFSR= edged up to 1.22125 percent. See [ID:nGEE5AN142] One-year euro Libor rates EUR1YFSR= edged up again after posting their biggest daily rise on Monday since early June. The ECB said last Friday it would tighten its rating requirements for banks using asset-backed securities as security in its lending operations [ID:nLAG005930]. The announcement, which analysts said may signal the start of the central bank’s exit policy, pushed six- and 12-month Eonia EUREON6M=EUREON1Y= rates higher and saw interest rate futures FEIM0FEIZ0 sell off, pushing up implied rates. “Everything the ECB has done so far has been in the guise of expansion, of getting liquidity into the market and widening the collateral base as much as possible,” said ING rate strategist Padhraic Garvey in Amsterdam. “For the first time they’ve clawed some of that back so if you were to point to the beginning (of an exit), this would be it.” Despite tougher collateral requirements, the ECB will offer long-term funds to banks, analysts said. It is expected to allot 125 billion euros in its one-year refinancing operation in December, roughly two-thirds more than the total banks took in September, according to a Reuters poll of traders released on Tuesday. For more, [ID:nGEE5AN1SJ] (Editing by Leslie Adler) ((richard.leong@thomsonreuters.com ; +1 646 223 6313; Reuters Messaging: richard.leong.reuters.com@reuters.net )) © Thomson Reuters 2009 All rights reserved The rest is here: MONEY MARKETS-U.S. bill rates hold as demand stays strong (at Reuters)

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SOUTH SURREY, British Columbia–(BUSINESS WIRE)–Tanzanian Royalty is pleased to announce a $3.14 million private placement comprising 1,155,835 shares through two European investment funds. Proceeds from the financing will be used to evaluate and develop the Company’s Kigosi Gold Project in the Lake Victoria Goldfields of Tanzania where significant quantities of near surface, gold-bearing gravels have been indicted in several phases of RC drilling. According to James E. Sinclair, Chairman and Chief Executive Officer, “Our immediate plans for 2010 include the bulk sampling of surface gravels at Kigosi, with a view to developing the property’s larger scale potential on a staged basis over the next few years.” “This is a time tested way of developing a gold project and in fact most of the world’s historic mining camps have been developed on this basis. It reduces risk to shareholders and preserves the value of the asset for investors,” he said. Budgets for equipment purchases have been approved and the Company’s in-house technical staff are completing the equipment selection process for the bulk sampling plant and delivery times to the Kigosi site. The private placement common shares are subject to certain mandated hold periods and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with the placement. The private placement is subject to regulatory approval. For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyaltyExploration.com The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 001-32500. You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml . Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our Form 20-F, File No. 001-32500, for more information concerning these risks, uncertainties, and other factors. Visit link: Tanzanian Royalty Announces $3.14 Million Financing For Evaluation Program at Kigosi Gold Project (Business Wire)

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Oil prices fell to around $76 a barrel Tuesday with new data showing a slow U.S. economic recovery and consumer confidence that remains lukewarm at best. AP – FILE – In this Sept. 19, 2007 file photo, an oil pump is seen at dusk in Sakhir, … {”s” : “ung,uso”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The dollar also gained against other major currencies, which can keep energy prices in check. Benchmark crude for December delivery fell $1.54 to settle at $76.02 a barrel on the New York Mercantile Exchange. The Commerce Department said the economy grew at a rate of 2.8 percent between July and September, short of estimates for 3.5 percent growth released just a month ago. Consumers are not spending much, commercial construction was weak, businesses trimmed inventories. The lack of consumer spending was partly explained in another report released Tuesday. Americans’ confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the holiday shopping season, according to the monthly survey released by the Conference Board. The lack of industrial and consumer activity has played out in weekly oil inventory reports from the Energy Department, with supplies of crude in storage growing. The next weekly report arrives Wednesday, and expectations are that crude and gasoline supplies grew again last week. Retail prices edged lower again, falling less than a penny to $2.638 per gallon Tuesday. That’s a lot more than last year at this time, when gasoline prices plunged to about $1.91 as the economic crisis unfolded. Gasoline consumption for the week ended Friday declined 1.6 percent from the previous week and 1.4 percent from a year ago, according to the weekly MasterCard SpendingPulse report. Year-to-date consumption for 2009, however, is still up 0.6 percent. MasterCard’s report is based on aggregate sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check. Still, gasoline prices are being supported by crude, which has traded between $76 and $82 for more than a month. That is largely being blamed on the dollar because oil is bought and sold in the U.S. currency. Investors holding euros or other currencies can buy more oil when the dollar falls. Crude prices rose Monday when the dollar fell. On Tuesday, the dollar gained against the euro, yen, and British pound. Oil prices fell as much as 2 percent. In other Nymex trading, heating oil fell less than a penny to settle at $1.9497 a gallon. Gasoline for December delivery fell almost 4.04 cents to settle at $1.939 a gallon. Natural gas for December delivery rose 1.3 cents to settle at $4.486 per 1,000 cubic feet. In London, Brent crude dropped $1 to settle at $76.46 on the ICE Futures exchange. Associated Press Writers Alex Kennedy in Singapore, Barry Hatton in Lisbon, Portugal, and Jeannine Aversa in Washington contributed to this report. Continued here: Crude prices sink to $76 per barrel (AP)

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NEW YORK (AP) — Embattled bond insurer Ambac Financial Group Inc. announced Tuesday the resignation of its chief financial officer. The company, based in New York, said Sean Leonard left “to pursue other interests.” The resignation is effective immediately. The departure comes just weeks after Ambac said it may be forced to file for bankruptcy protection. In a filing with the Securities and Exchange Commission Nov. 9, the company said it believes it has enough liquidity to get through the second quarter of 2011, but warned it could run out of money sooner. Ambac for years had backed municipal bonds that rarely defaulted and paid steady dividends. In recent years, however, the company invested in complex new bonds that were comprised of risky mortgages amid the housing bubble. The new bonds were an opportunity for Ambac to generate outsize returns. But as the housing bubble burst and mortgage defaults spiked, the likelihood of issuer default and claims on bond insurance rose. In the filing with the SEC earlier this month, Ambac said it may not be able to generate enough cash to pay operating expenses and debt obligations over the long term. Given the tight credit markets, the company said it also may not be able to access alternate sources of capital. “No assurances can be given that Ambac will be successful in executing any or all of its strategies,” the company said in the filing. Ambac Financial is considering a restructuring of its debt through a prepackaged bankruptcy proceeding. But if it can’t bolster its capital position, the company said it may file for bankruptcy without a lender agreement in place. Leonard joined Ambac in 2005, according to the company. Those who worked under Leonard will report to CEO David Wallis until a replacement is found, Ambac said. An Ambac representative did not immediately return a call for further comment. Shares of Ambac fell 9 cents, or 10 percent, to 81 cents in afternoon trading. In the past year, shares have traded between 35 cents and $2.09. In November of last year, shares were as high as $3.40. More: Ambac Chief Financial Officer Sean Leonard resigns (AP)

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SAN FRANCISCO (AP) — U.S. senators are pressuring European antitrust regulators to hurry their investigation of Oracle Corp.’s proposed acquisition of Sun Microsystems Inc., citing Sun’s “precarious” financial condition and fears about more layoffs at the struggling computing company. A group of 59 senators outlined the concerns in a letter Tuesday to the European Commission, which has held up the $7.4 billion deal over worries that Oracle would be too dominant in the market for database software. Oracle is the leader in proprietary database software — which means its underlying code is kept private — while Sun’s MySQL division makes the No. 1 open-source database. Companies use database software to manage large stockpiles of information, such as their payroll or customer data. The Oracle-Sun combination would be one of the biggest technology deals of the year, and was cleared in August by the U.S. Department of Justice. This month, though, the European Commission notified the Silicon Valley companies of its formal objection to the deal. Oracle and Sun are appealing that ruling before the EU’s preliminary ruling has a chance to become final. EU regulators have until Jan. 27 to wrap up that review. Sen. John Kerry, D-Mass., the lead author of Tuesday’s letter, said a further delay in the review “threatens thousands of American jobs, so we felt compelled to ask for a speedy resolution.” “Sun Microsystems’ financial position has become more precarious and the commission’s inquiry has continued,” the letter read. “Some have raised concerns over the company’s ability to continue to employ its thousands of workers. Accordingly, we respectfully request the European Commission complete its investigation of this transaction as quickly as possible.” Both companies had hoped the deal would close this summer. Since it hasn’t, Sun rivals such as IBM Corp. and Hewlett-Packard Co. have been playing up uncertainty about the deal to steal business from Sun. Sun has lost $677 million over the last four quarters. It also said last month it would be cutting up to 3,000 jobs, or 10 percent of its worldwide work force, as it awaits a decision on the fate of the deal. Because of fears that the deal won’t get completed, Sun’s stock is trading for much less than the $9.50 per share that Oracle would pay to acquire the company. The stock fell 4 cents, or 0.5 percent, to $8.50 on Tuesday afternoon. Continue reading here: Senators press EU to speed its Oracle-Sun probe (AP)

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PARIS (AP) — France’s Vivendi SA said Tuesday it has issued euro1.2 billion ($1.8 billion) in bonds. The Paris-based media and entertainment giant said the two-part bond issue aims to “increase the average maturity of the debt … and to maintain a good balance between bonds and credit lines.” Vivendi is currently the focus of intense interest because a deal between U.S. media giants Comcast Corp. and NBC Universal to create one of the world’s largest media companies hinges on what the French group decides to do with its 20 percent stake in NBC Universal. Vivendi has an option until Dec. 10 to dispose of its stake in NBC Universal. Majority owner General Electric Co. is expected to buy it and then sell a 51 percent stake of the entire NBC Universal unit to Comcast, which serves about a quarter of the nation’s subscription TV households. Here is the original post: Vivendi issues euro1.2 billion in bonds (AP)

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By Kevin Krolicki and David Bailey DETROIT (Reuters) – A deal for General Motors Co GM.UL to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure. GM had been aiming to close a deal by the end of next month to sell Saab to a partnership led by the Swedish luxury car builder Koenigsegg and backed by China’s Beijing Automotive Industrial Holding Ltd. Koenigsegg said in a statement on Tuesday that it has withdrawn from the sale process, about five months after the two sides had reached a preliminary deal for Saab. “The time factor has always been critical for our strategy to breathe new life into the company,” Koenigsegg said. The development represents a setback for GM, which has been working to shed brands as part of a more narrowly focused sales strategy after emerging from a bankruptcy in July, backed by over $50 billion in U.S. government financing. Closure of Saab and its Trolhattan, Sweden, production hub would also threaten over 3,000 jobs and scuttle a plan spearheaded by the Swedish government to help finance a restructuring of the company. A tentative deal reached by GM to sell its Saturn brand to Penske Automotive Group Inc ( PAG.N ) also collapsed at the end of September, just before it was expected to close. Chief Executive Fritz Henderson, who has said the automaker needs to shift its focus away from making deals and back to making cars, said GM would take the next few days to consider the options for Saab. “We’re obviously very disappointed with the decision to pull out of the Saab purchase,” Henderson said in a statement. “We will take the next several days to assess the situation and will advise on the next steps next week.” GM’s 13-member board is scheduled to meet next Tuesday in Detroit for a regular monthly meeting and the question of what to do with Saab will now lead the agenda, said one person with direct knowledge of the situation. There are no other bidders for the brand, meaning that GM’s only options would be to restart the sale process or opt for closure, the person said. Because of the pressure GM faces to focus on its remaining four core brands — Chevrolet, Cadillac, Buick and GMC — a wind-down of Saab operations is likely, the person said. Sweden effectively ruled out a state bailout for Saab, saying the brand’s future would have to rest with finding a new private-sector buyer. “You can’t, by state aid, keep a company ongoing, if you don’t have any chance for a competitive company,” Joran Hagglund, state secretary at Sweden’s Industry Ministry, told reporters. Aaron Bragman, an analyst with IHS Global Insight, said the impact on GM of closing Saab would be limited.  Continued… See the article here: GM’s Saab sale collapses as buyer backs out

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TYNGSBORO, Mass.–(BUSINESS WIRE)–Beacon Power Corporation (Nasdaq: BCON – News ), a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, said today that the U.S. Department of Energy (DOE) has announced that it has awarded a stimulus grant to Beacon valued at $24 million, for use in the construction of the Company’s second 20 MW flywheel energy storage plant, to be located in Chicago, Illinois. “We’re extremely pleased to receive this grant award from the Department of Energy,” said Bill Capp, Beacon president and CEO. “DOE has long supported Beacon’s pioneering efforts to bring our clean, sustainable and cost-saving energy storage technology to the grid. This $24 million grant, which is the 4 th largest out of 16 energy storage grants announced today, represents the most significant financial boost Beacon has ever received from the federal government. We believe it underscores the unique value and stabilizing benefits of our grid-scale flywheel systems. We’re very grateful for DOE’s continued support.” Capp added: “Thanks to DOE’s strong support, we can now continue to move forward with plans to build and operate a second 20 MW regulation plant, in addition to the one we’ve begun work on in Stephentown, New York. Doing so will expand our merchant service provider business model in the regulation market, and create a foundation for promoting and selling turnkey systems to vertically integrated utilities here and overseas.” According to DOE, the funding award is to “Design, build, test, commission and operate a utility-scale 20 MW flywheel energy storage frequency regulation plant in Chicago, Illinois, and provide frequency regulation services to the grid operator, the PJM Interconnection. The project will also demonstrate the technical, cost and environmental advantages of fast-response flywheel-based frequency regulation management, lowering the cost to build a 20 MW flywheel energy storage plant to improve grid reliability while increasing the use of wind and solar power.” The grant for the Chicago facility results from one of Beacon’s two applications for DOE Smart Grid demonstration project funding, known as Funding Opportunity Announcement DE-FOA-0000036. Area of Interest 2.2 of the DOE solicitation contemplated one or two grants for Frequency Regulation Ancillary Services projects. The Department made only one award, which was for Beacon’s 20 MW regulation plant. The grant award of $24 million is for 50% of the project’s estimated cost. DOE will provide further details of the grant conditions in the near future. Flywheel Energy Storage and Frequency Regulation Frequency regulation is an essential grid service that is performed by maintaining a tight balance between electricity supply and demand. Beacon’s 20 MW plant has been designed to provide frequency regulation services by absorbing electricity from the grid when there is too much, and storing it as kinetic energy in a matrix of flywheel systems. When there is not enough power to meet demand, the flywheels inject energy back into the grid, thus helping to maintain proper electricity frequency (60 cycles/second). Thanks to their ability to recycle electricity efficiently and act as “shock absorbers” to the grid, Beacon’s flywheel plants will also help support the integration of greater amounts of renewable (but intermittent) wind and solar power resources. Unlike conventional fossil fuel-powered generators that provide frequency regulation, flywheel plants will not consume any fuel, nor will they directly produce CO 2 greenhouse gas emissions or other air pollutants, such as NO X or SO 2 . About Beacon Power Beacon Power Corporation designs, develops and is commercializing advanced products and services to support stable, reliable and efficient electricity grid operation. Beacon’s Smart Energy Matrix, now in production, is a non-polluting, megawatt-scale, utility-grade, flywheel-based solution designed to provide less expensive, and more sustainable and effective, frequency regulation services to the nation’s power grid. The Company’s business strategy is both to   supply   frequency regulation services from its own plants, and to sell its systems directly to utilities or grid operators in some parts of North America and selected international markets. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. For more information, visit www.beaconpower.com . Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: This Material contained in this press release may include statements that are not historical facts and are considered “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Beacon Power Corporation’s current views about future events, financial performances, and project development. These “forward-looking” statements are identified by the use of terms and phrases such as “will,” “believe,” “expect,” “plan,” “anticipate,” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Beacon’s expectation. These factors include: a short operating history; a history of losses and anticipated continued losses from operations; the complexity and other challenges of arranging project financing and resources for one or more frequency regulation power plants, including uncertainty about whether we will be successful in finalizing the DOE loan guarantee support for our Stephentown, New York, facility, or complying with the conditions or ongoing covenants of that support; our need to comply with any disbursement or other conditions under the DOE grant program; a need to raise additional equity to fund the project and Beacon’s other operations in uncertain financial markets; conditions in target markets, including the fact that some ISOs have been slow to comply with FERC’s requirement to update market rules to include new technology such as the Company’s; our ability to obtain site interconnection approvals, landlord approvals, or other zoning and construction approvals in a timely manner; limited experience manufacturing commercial products or supplying frequency regulation services on a commercial basis; limited commercial contracts for revenues to date; the dependence of revenues on the achievement of product optimization, manufacturing and commercialization milestones; dependence on third-party suppliers; intense competition from companies with greater financial resources, especially from companies that are already in the frequency regulation market; possible government regulation that would impede the ability to market products or services or affect market size; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; retaining key executives and the possible need in the future to hire and retain key executives; the historical volatility of our stock price, as well as the volatility of the stock price of other companies in the energy sector, especially in view of the current situation in the financial markets generally. These factors are elaborated upon and other factors may be disclosed from time to time in Beacon Power filings with the Securities and Exchange Commission. Beacon Power expressly does not undertake any duty to update forward-looking statements. Read this articl e: U.S. Department of Energy Announces $24 Million Smart Grid Stimulus Grant Award to Beacon Power (Business Wire)

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FOLSOM, Calif.–(BUSINESS WIRE)–During the Celebration of Miracles — a fund-raising event hosted by Friends of NICU ( www.friendsofnicu.org ) — Charlie Garrido made a most generous gift as he bid on a lithograph signed by the Rolling Stones. After submitting the winning bid, he quickly donated the item back so that it could be reauctioned and generate more money for the cause. “My initial thought was ‘Cool, I won!’ but then I remembered the parents and children,” said Mr. Garrido. “So, I donated my hard-fought Rolling Stones lithograph back so that it could be reauctioned and thought ‘now we are all winners!’” When the evening ended, over $34,000 had been raised to help families who are dealing with indescribable fear and strain while their babies are in the NICUs (neonatal intensive care units) of Mercy hospitals in the Sacramento region. “The Celebration of Miracles was a magical evening that no one will ever forget. The outpouring of support and contributions were amazing,” said Elanie Purkis, founder of Friends of NICU. “We shared tears and smiles and generally came together to help families.” Courtney Dempsey, reporter/anchor from Good Day Sacramento CW31 emceed the dinner program. Dr. Robert Kahle, director of the Mercy hospital NICUs delivered a heartfelt speech about the challenges families face. Social worker Gigi Eskin-Norman explained how Friends of NICU contributions help families, some of whom must drive three hours from the far northern communities like Redding and Red Bluff to be with their critically ill babies. ECO:LOGIC Engineering ( www.ecologic-eng.com ), an engineering and consulting firm that designs and manages water and wastewater projects in the Western United States, was the title sponsor. A silent auction and live auction were the primary fund-raising activities of the night. The top selling item was a 5-day luxury vacation in Chicago. Other sponsors include: Sponsors: ECO:LOGIC Engineering ( www.ecologic-eng.com ) Gold Country Media ( www.goldcountrymedia.com ) California Family Fitness ( www.californiafamilyfitness.com ) Community Neonatology of Sacramento Folsom OB-GYN, Dr. Jeffrey Cragun ( http://folsomobgyn.com ) Greater Sacramento Pediatrics Associates Goddard Claussen Strategic Advocacy ( www.goddardclaussen.com ) Mainstay Business Solutions ( www.mainstaybusiness.com ) Mercy Foundation ( www.supportmercyfoundation.org ) OnPointNetwork ( www.onpointnetwork.com ) In-kind donors and premium silent auction donors: A Tale of Two Truffles ( www.ataleoftwotruffles.com ) ADG Designs ( www.adgdesigns.net ) The Christian DeWild Band ( www.myspace.com/christiandewild ) Dawn Roberts Photography ( www.dawnrobertsphotography.com ) Exquisite Events & Entertainment ( http://exquisitedjs.com ) J Harrison Public Relations Group ( www.JHarrisonPR.com ) Luke Benton Productions ( www.productionstrategies.biz ) Paint All Night Studios ( www.paintallnightstudios.com ) Pottery World ( www.potteryworld.com ) Friends of NICU operates under the auspices of the Mercy Foundation, all of the money raised goes directly to the families who need help. There are no overhead or administrative fees for this entirely volunteer-run, nonprofit organization. Note: Photographs and interviews with founders, donors and NICU families available upon request. See the rest here: Friends of NICU Fund-raiser Nets Enough to Help 250 Families with Sick and Premature Babies in Mercy Hospitals (Business Wire)

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(Adds quotes) WASHINGTON, Nov 24 (Reuters) – President Barack Obama told a joint news conference with Indian Prime Minister Manmohan Singh on Tuesday that he was committed to completing a bilateral civil agreement that would open up India’s potential $150 billion market in power plants. “I reaffirmed to the prime minister my administration’s commitment to fully implement the U.S.-India civil nuclear agreement, which will increase American exports and create jobs in both countries,” Obama said after talks with Singh at the White House. Singh echoed those words and welcomed the removal on curbs on U.S. high-tech exports to India. “The lifting of U.S. export controls on high-technology exports to India will open vast opportunities for joint research and development efforts,” he said. The 2005 civil nuclear deal that Singh signed with former U.S. President George W. Bush, ended the long nuclear isolation imposed on India after it tested an atom bomb in 1974. But several issues need to be cleared up before U.S. businesses including General Electric Co ( GE.N ) and Westinghouse Electric Co, a subsidiary of Japan’s Toshiba Corp ( 6502.T ), can compete for billions of dollars in new reactor agreements. India’s parliament has to debate a new law to limit U.S. firms’ liability in case of a nuclear accident. The United States has still not signed a nuclear fuel reprocessing agreement with India. (Editing by Sandra Maler ) ((paul.eckert@reuters.com; +1 202 789-8578; Reuters Messaging: paul.eckert.reuters.com@reuters.net)) © Thomson Reuters 2009 All rights reserved Read more from the original source: UPDATE – US committed to completing India nuclear pact-Obama (at Reuters)

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STURTEVANT, Wis. & NEW YORK–(BUSINESS WIRE)–JohnsonDiversey, Inc. and Clayton Dubilier & Rice, LLC (“CD&R”) today announced the completion of a previously announced agreement under which CD&R-managed funds are investing $477 million for an approximate 46 percent equity interest in the company as part of a broader recapitalization transaction valued at $2.6 billion. In addition, the company will be simplifying its name to “Diversey, Inc.,” preserving the strong global brand equity in the current name and retaining the depiction of a water lily in its logo, a reflection of the Johnson Family heritage of environmental leadership. The name change is expected to take effect in early 2010. The recapitalization provides the company with the financial flexibility to accelerate growth in the global commercial cleaning and hygiene market. In addition to the CD&R fund investment, the transaction includes a debt financing package of approximately $1.9 billion. The new financing package includes $400 million of privately placed senior notes, $250 million of privately placed holding company PIK notes and $1.25 billion of senior secured credit facilities with a $250 million revolving credit facility. The Johnson Family of Racine, Wisconsin, retains approximately 50 percent ownership in the company. Unilever retains a 4% ownership interest. “The recapitalization and equity investment by CD&R gives us both financial flexibility as well as access to the firm’s significant operating expertise to help us grow our business and expand our capabilities in delivering products, services and solutions that contribute to a cleaner, healthier future,” said JohnsonDiversey Chairman S. Curtis Johnson. CD&R looks forward to helping the company achieve new levels of growth, added CD&R Partner Richard J. Schnall. “The transaction exemplifies many elements required today for successful private equity investing – insight to understand value in an uncertain economic environment, strong relations with financing sources, and a high level of credibility with sellers of businesses,” Schnall said. JohnsonDiversey President and CEO Ed Lonergan added, “CD&R has an outstanding track record of creating value in the companies in which it invests. We’re confident this transaction will be a success for all stakeholders.” JohnsonDiversey recently announced two new initiatives to reinforce its leadership position in the global commercial cleaning and hygiene market and its commitment to public health. The company announced yesterday the creation of an Internet-based resource, www.outbreakcontrol.com , to address the H1N1 global pandemic by providing valuable information on disinfection and facility hygiene. Earlier in November, JohnsonDiversey announced it had tripled to 25% its pledge to reduce the company’s greenhouse gas emissions by 2013 under the World Wildlife Fund Climate Savers program (see prior press release dated November 5, 2009). These actions further reinforce JohnsonDiversey’s commitment to providing cleaner, healthier and more sustainable facilities for its customers in the building management, lodging, food service, retail, health care, and food and beverage sectors. Advisors Goldman, Sachs & Co. and Citigroup Global Markets Inc. served as financial advisors to JohnsonDiversey on the transaction. Jones Day served as the company’s legal advisor. Barclays Capital Inc., HSBC Securities (USA) Inc., Natixis, Rabobank Securities, Inc. and RBC Capital Markets served as financial advisors to CD&R. Debevoise & Plimpton LLP served as CD&R’s legal advisor. Serving the Johnson Family shareholders were BDT Capital Partners, Inc. and the law firm of McDermott Will & Emery LLP. Further information about the transaction is contained in various current reports on Form 8-K, filed with the Securities and Exchange Commission and available at www.johnsondiversey.com . ABOUT CLAYTON, DUBILIER & RICE Founded in 1978, Clayton, Dubilier & Rice, Inc. is a private equity firm with an investment strategy predicated on producing superior financial returns through building stronger, more profitable businesses. The Firm’s professionals include a combination of financial and operating executives. Since inception, CD&R has managed the investment of more than $12 billion in 45 U.S. and European businesses representing a broad range of industries with an aggregate transaction value of approximately $70 billion and revenues of nearly $100 billion. CD&R’s portfolio investments include global market leaders such as Hertz (NYSE: HTZ – News ), Sally Beauty (NYSE: SBH – News ), U.S. Foodservice and ServiceMaster. The Firm is based in New York and London. www.cdr-inc.com . ABOUT JOHNSONDIVERSEY JohnsonDiversey Inc. is committed to a cleaner, healthier future. Its products, systems and expertise make food, drink and facilities safer and more hygienic for consumers and for building occupants. With sales into more than 175 countries, JohnsonDiversey is a leading global provider of commercial cleaning, sanitation and hygiene solutions. The company serves customers in the building management, lodging, food service, retail, health care, and food and beverage sectors. JohnsonDiversey is headquartered in Sturtevant, Wisconsin, USA. www.johnsondiversey.com . Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6107574&lang=en MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6107574 Read more from the original source: JohnsonDiversey and Clayton, Dubilier & Rice Announce Closing of Equity Investment and Company Recapitalization (Business Wire)

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* TSX falls 0.22 pct to 11,599.28 on commodity weakness * BMO’s higher profit, Diners Club deal boost bank shares * U.S. Q3 GDP revision slightly lower than expected (Adds details) By Ka Yan Ng TORONTO, Nov 24 (Reuters) – Toronto’s main stock index was lower on Tuesday morning due to weakness in commodity shares and evidence of a slow recovery in the U.S. economy. Strength in banking stocks stemming from firm Bank of Montreal ( BMO.TO ) quarterly results cushioned the fall. The top five spots the market’s list of risers were held by big banks. Bank of Montreal reported a higher-than-expected 16 percent increase in quarterly profit and said it was buying the Diners Club North America credit card business, a deal that would double its corporate card portfolio. [ID:nN23263602] BMO shares gained 0.5 percent to C$53.80. Toronto-Dominion Bank ( TD.TO ) was up 0.27 percent at C$67.53. Resource shares were big decliners on Tuesday, led by a 1.7 percent drop in fertilizer company Potash Corp ( POT.TO ) to C$118.25. Lower oil prices and a recent runup in commodity stocks also put pressure on companies such as diversified miner Teck Resources ( TCKb.TO ), down 2.2 percent at C$36.55, and oil producer EnCana Corp ( ECA.TO ), down 0.54 percent at C$55.60. “I think it’s just an overall selloff in the market today. It had a pretty nice run in some of these commodities so it was ripe for some profit-taking,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. At 10:40 a.m. (1540 GMT), the S&P/TSX composite index .GSPTSE was down 25.50 points, or 0.22 percent, at 11,599.28, after opening higher. The U.S. economy grew more slowly than first thought in the third quarter, but house prices rose for the fifth straight month in September and U.S. consumer confidence was up in November, suggesting a slow economic recovery is still intact. [ID:nN24296971] “I think it just confirms that we’re in a slow recovery here. It’s good to see a positive but it wasn’t as positive as people were expecting,” Nakamoto said. ($1=$1.06 Canadian) (Editing by Peter Galloway) ((kayan.ng@thomsonreuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; 416-941-8109)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report……….[.TO] Canadian dollar and bonds report….[CAD/][CA/] Top News: Canada ……[TOP/CAN] Today in Canada…….[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)…EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide……. S&P/TSX Composite index ………….. .GSPTSE S&P/TSE Venture composite index …….SPCDNX TSX most active……….AV.TO Venture Exchange most active………….AV.V Top TSX pct gainers……PG.TO Top TSX pct losers…….PL.TO S&P/TSX 60 index ……..TSE60 52 week highs: TSX……………t.YH.TO Venture…………..t.YH.V 52 week lows: TSX……………t.YL.TO Venture…………..t.YL.V Canadian dollar quote…… CAD= CAD=D3 =CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ……FTEU3 EUROPEAN REPORT …….[.EU] Nikkei 225…………..N225 Tokyo report…………[.T] FTSE 100…………… .FTSE London report………..[.L] Xetra DAX…………. .GDAXI Frankfurt market stories[.F] CAC-40.. .FCHI Paris market stories…[.PA] World Indices……. Foreign exchange……..[FRX/] Oil…….[O/R] US Treasuries…………[US/] International bonds…..[EUB/] Gold………[GOL/X] or [GOL/] CRB index of commodity futures………[CRB/] © Thomson Reuters 2009 All rights reserved See original here: CANADA STOCKS-TSX falls on commodities, but banks rise (at Reuters)

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ALBANY, N.Y. (AP) — New York’s top court ruled Tuesday that the state can use eminent domain to force homeowners and businesses to sell their properties for a massive development in Brooklyn that includes a new arena for the New Jersey Nets. In a 6-1 ruling Tuesday, the Court of Appeals said the Empire State Development Corp.’s finding that the area was blighted was enough to justify taking the land. A group of tenants and owners claim the seizure is unconstitutional. They argue that developer Bruce Ratner’s proposed $4.9 billion, 22-acre Atlantic Yards project mainly enriches private interests, while the state constitution requires public use for taking land. “The constitution accords government broad power to take and clear substandard and insanitary areas for redevelopment,” Chief Judge Jonathan Lippman wrote for the majority. “In so doing, it commensurately deprives the judiciary of grounds to interfere with the exercise.” Ratner’s proposed development includes office towers, apartments and a new arena for the NBA’s Nets. A key element in his plan is selling majority team ownership to Russian entrepreneur Mikhail Prokhorov. In a prepared statement, Ratner said construction will continue, with the intent that the Nets will play ball there in the 2011-2012 season. “Once again the courts have made it clear that this project represents a significant public benefit for the people of Brooklyn and the entire city,” Ratner said. “Our commitment to the entire project is as strong today as when we started six years ago.” The attorney for homeowners and tenants who declined to sell after the project was announced in 2003 said the fight isn’t over. Matthew Brinckerhoff said his clients will oppose the ESDC when the urban development agency goes to court in Brooklyn in the second step of the process to take the properties. “They have won round one, and we still have round two to go,” Brinckerhoff said. “I think everybody believes that they need to do a number of things by the end of the year, and where exactly this fits into that process I’m not sure. But the fact that they haven’t yet taken the properties can’t be helping them.” Calls to the ESDC were not immediately returned Tuesday. Lippman noted that the law empowering the government in the 1930s to partner with private entities to deal with the emerging problem of slums was intended also to create replacement low-cost housing. This plan instead is aimed at “alleviating relatively mild conditions of urban blight,” mainly a railyard, and there were only 146 people living within the project boundaries when the final environmental study was done, he wrote. In a dissent, Judge Robert Smith said the court majority was “much too deferential to the self-serving determination by the ESDC that petitioners live in a ‘blighted’ area, and are accordingly subject to having their homes seized and turned over to a private developer.” The record does not support the state agency’s finding, Smith said. While the blight is documented at northern end of the project site, the southern part “appears … to be a normal and pleasant residential community,” he said. Read the original: Court: NY can seize property for new NJ Nets arena (AP)

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NEW YORK, Nov 24 (Reuters) – U.S. gold futures turned higher in heavy trade Tuesday on option-related buying and fund interest, and investors continued see pullbacks in the metal as buying opportunities, traders said. For the latest detailed report, click on [GOL/]. GOLD * COMEX December gold GCZ9 up $1.60 at $1,166.30 an ounce at 10:34 a.m. EST (1534 GMT) on the NYMEX. * Ranged from $1,157.70 to $1,171.70. December hit an all-time high $1,174 on Monday. * Gold futures supported by options-related buying after Monday’s option expiration – George Gero at RBC. * Bullion holds gains in spite of a slight dollar rise amid an equities market retreat. * Gold market sees drops as opportunities to buy absent a major correction – Miguel Perez-Santalla at Heraeus. * Ethiopia signed a deal for a Saudi firm to extract an estimated 20 tonnes of recoverable gold found in the Horn of African country last month. [ID:nGEE5AN1WS] * Gold-to-oil ratio at above 15. It was last at 15.34, up from the previous session’s 15, as oil drops on Tuesday. * COMEX estimated 10 a.m. volume at a busy 221,814 lots, driven by options-related buying. * Spot gold XAU= at $1,168.80 an ounce, compared with $1,165.85 late in the previous session in New York. * London’s afternoon gold fix XAUFIX= at $1,163.25 an ounce. * For a gold price interactive graphic: here > SILVER * December silver SIZ9 down 14 cents at $18.470 an ounce, as investors lock in profits. * Technical resistance seen at breaking above the $19 an ounce level – traders * Ranged from $18.330 to $18.680. * COMEX estimated 10 a.m. volume at 48,120 lots. * Spot silver XAG= was at $18.45, against $18.59 in the previous session in New York. * London silver fix XAGFIX= at $18.57. PLATINUM * January platinum PLF0 down $4.90 at $1,462.70 an ounce as the market takes a breather after Monday’s rally. * Spot platinum XPT= $1,455.50 an ounce. PALLADIUM * December palladium PAZ9 down 5 cents at $373.25 an ounce on platinum’s weakness. * Spot palladium XPD= $369.50 an ounce. Prices at 10:52 a.m. EST (1552 GMT) Last Change Pct 2008 YTD Chg Close % Chg US gold GCZ9 1168.90 4.20 0.4 884.30 32.2 US silver SIZ9 18.470 -0.140 -0.8 11.295 63.5 US platinum PLF0 1462.60 -5.00 -0.3 941.50 55.3 US palladium PAZ9 373.65 0.35 0.1 188.70 98.0 Gold XAU= 1168.50 2.65 0.2 878.20 33.1 Silver XAG= 18.44 -0.15 -0.8 11.30 63.2 Platinum XPT= 1456.00 1.50 0.1 924.50 57.5 Palladium XPD= 371.40 2.40 0.7 184.50 101.3 Gold Fix XAUFIX= 1163.25 -7.00 -0.6 836.50 39.1 Silver Fix XAGFIX= 18.57 -19.00 -1.0 14.76 25.8 Platinum Fix XPTFIX= 1458.00 5.00 0.3 1529.00 -4.6 Palladium Fix XPDFIX= 371.00 0.50 0.1 365.00 1.6 (Reporting by Frank Tang ) ((frank.tang@thomsonreuters.com; +1 646 223 6126; Reuters Messaging: frank.tang.reuters.com@reuters.net)) ((For help: Click “Contact Us” in your desk top, click here [HELP] or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546)) © Thomson Reuters 2009 All rights reserved Continue reading here: US gold up on options-related buying, fund demand (at Reuters)

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NEW YORK (AP) — Stocks retreated from 13-month highs after a lackluster reading on consumer confidence and a report showing slower economic growth sapped the market’s optimism. Major indexes were slightly lower Tuesday after the Conference Board said its Consumer Confidence Index increased to 49.5 in November from a revised reading of 48.7 in October. While better than expected, the report shows that consumers remain gloomy heading into the holiday season. A reading above 90 means the economy is on solid footing. Stocks had already been falling in morning trading after the government revised its calculation of third-quarter economic growth down to 2.8 percent from its original estimate of 3.5 percent, the latest sign that the recovery is likely to be slow and bumpy. The decline in stocks came after a big rally on Monday carried the Dow Jones industrials up 133 points to their highest level in just over a year. A weakening dollar and an upbeat report on housing lured investors back into stocks after a three-day losing streak. The dollar bounced back on Tuesday, hurting stock market sentiment. The dollar’s weakness has been a big driver behind higher stock prices this year. Investors have been taking advantage of record-low interest rates to invest in assets other than cash that can earn them better returns. As the end of the year approaches, however, investors have become hesitant to take on more risk and potentially upset the big gains they’ve amassed since stocks began rallying in March. That desire for safety helps push up the dollar and other safe-harbor investments like Treasurys at the expense of the stock market. The Dow fell 22.68, or 0.2 percent, to 10,428.27. The Standard & Poor’s 500 index lost 1.03, or 0.1 percent, to 1,105.21, while the Nasdaq composite index fell 8.63, or 0.4 percent, to 2,167.38. About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to a relatively low 240.8 million shares, compared with 284.4 million at the same time on Monday. Analysts expect trading to be choppy this week amid light trading volume heading into the Thanksgiving holiday. A report earlier Tuesday showing the fourth straight month of improving house prices in September did little to shore up investor confidence. The Standard & Poor’s/Case-Shiller home price index rose 0.3 percent in September from the previous month. Investors have been battling mixed signals on the economy in recent months. Areas like housing have shown modest improvements, but others like consumer confidence and employment are lagging. That has investors worried that their bets on an economic recovery over the past eight months may have been overdone. The Standard & Poor’s 500 index is up 63.5 percent since early March. A stronger dollar put pressure on the shares of commodities and materials producing companies. When the dollar rises, it makes commodities and commodities-related products more expensive for buyers overseas. The ICE Futures US dollar index, a widely used measure of the dollar against other currencies, rose x percent in morning trading. Oil prices fell $1.24 to $76.32 a barrel on the New York Mercantile Exchange. Gold prices rose slightly. Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.35 percent from 3.36 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.05 percent from 0.03 percent. In other trading, the Russell 2000 index of smaller companies fell 5.41, or 0.9 percent, to 589.40. Overseas, China’s Shanghai index fell 3.5 percent, its biggest decline in three months, while Japan’s Nikkei stock average fell 1 percent. In afternoon trading, Britain’s FTSE 100 rose 0.3 percent, Germany’s DAX index gained 0.1 percent, and France’s CAC-40 slipped 0.1 percent. View original post here: Reports on consumer confidence, GDP tug at stocks (AP)

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WASHINGTON (AP) — The summer’s trend of rising home prices is flattening as the traditional home shopping season ends, two reports Tuesday showed. AP – In this Oct. 15, 2009 photo, a sign for a newly-constructed home advertises a financing rate in Chagrin … {”s” : “bac,c,fnm,fre,jpm,wfc”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose 0.3 percent to 144.96 in September, the fourth monthly increase in a row. The seasonally adjusted index is now up more than 3 percent from its bottom in May, but still 30 percent below its peak in April 2006. Another reading of home prices published by the Federal Housing Finance Agency held steady from August to September. Analysts expect prices to dip again this winter as foreclosures increase. “As long as the unemployment rate stays elevated, you’re going to see pressure on the pace of foreclosures, which are going to find their way back onto the market, depressing prices,” said Dan Greenhaus, chief economic strategist with Miller Tabak & Co. Home prices are a key ingredient to rebuilding the economy. Homeowners feel wealthier when their property appreciates in value and are more likely to spend money. Rising prices also help millions of homeowners who owe more to the bank than their homes are worth. Currently, roughly one in four homeowners are in that situation, according to First American CoreLogic. While prices nationally are likely to keep rising through November, “we are very worried about the potential for a huge wave of supply next year, both from private sellers and banks,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics. “Prices could easily reverse their recent gains.” Home prices rose in 11 major cities with the strongest gains in San Francisco and Minneapolis, according to the Case Shiller report. Prices fell by the most in Las Vegas and Cleveland. Compared with a year earlier, the 20-city index was down 9.4 percent, the smallest year over year decline since January 2008. “With housing remaining an albatross around the economy’s neck, nothing would perk things up more than some increases in home prices,” wrote Joel Naroff, chief economist at Naroff Economic Advisors. “That seems to be happening.” The price reports came a day after the National Association of Realtors said home resales surged by more than 10 percent in October as buyers took advantage of a special tax credit for first-time owners. Read this articl e: Home prices rise for 4th month in a row (AP)

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CALGARY, Alberta, Nov. 24, 2009 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on NexMed, Inc. (Nasdaq: NEXM – News ). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community. To view the Report in its entirety visit: http://www.emergingstockreport.com To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe About ESR: Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report’s staff of investment professionals are dedicated to providing the the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php About NexMed, Inc.: NexMed’s pipeline includes a late stage terbinafine treatment for onychomycosis, a late stage alprostadil treatment for erectile dysfunction, a Phase 2 alprostadil treatment for female sexual arousal disorder, and an early stage treatment for psoriasis. For further information, go to www.nexmed.com . ESR Disclosure: Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com , for complete risks and disclosures. Follow this link: Emerging Stock Report Initiates Independent Research Coverage on NexMed, Inc. (GlobeNewswire)

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CALGARY, Alberta, Nov. 24, 2009 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on AgFeed Industries, Inc. (Nasdaq: FEED – News ). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community. To view the Report in its entirety visit: http://www.emergingstockreport.com To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe About ESR : Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report’s staff of investment professionals are dedicated to providing the the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php About AgFeed Industries, Inc.: AgFeed Industries ( www.agfeedinc.com ) is a U.S. company with its primary operations in China. AgFeed has two profitable business lines — animal nutrients in premix and blended animal feed and hog production. AgFeed is one of China’s largest commercial hog producers in terms of total annual hog production as well as one of the largest premix feed companies in terms of revenues. China is the world’s largest hog producing country that produced over 625 million hogs in 2008, compared to approximately 100 million hogs produced annually in the U.S. China also has the world’s largest consumer base for pork consumption. Over 62% of total meat consumed in China is pork. Hog production in China enjoys income tax free status. The pre-mix feed market in which AgFeed operates is an approximately $1.6 billion segment of China’s $40 billion per year animal feed market, according to the China Feed Industry Association. ESR Disclosure : Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com , for complete risks and disclosures. See the rest here: Emerging Stock Report Initiates Independent Research Coverage on AgFeed Industries, Inc. (GlobeNewswire)

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TEMPE, Ariz. (AP) — US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. AP – FILE – In this Oct. 26, 2009 file photo, a US Airways plane takes off from Miami International … {”s” : “lcc”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} The company said delaying the deliveries will reduce its aircraft capital expenditures over the next three years by $2.5 billion. US Airways instead will take delivery of 28 planes over the next three years, which it called a more manageable pace during an airline industry slump. The carrier has financing in place for those 28 planes, including commitments for $275 million in loans for aircraft it will receive next year. CEO Doug Parker said in a message to employees that the moves will boost the company’s available cash by about $150 million this year and $450 million by the end of 2010. Airline traffic has been weak this year, and several major U.S. carriers have raised cash to get through the slow fall and winter seasons. US Airways, based in Tempe, Ariz., was scheduled to add the Airbus jets over the next three years to replace older jets in the airline’s fleet. Parker said the deferrals will let the company “maintain flexibility in a challenging economic environment.” He said the company would keep its older jets until the new delivery dates, so the move won’t significantly affect the airline’s passenger-carrying capacity. The company also said that Barclays, which provides US Airways’ affinity credit card, eased financial terms of their agreement and will delay repayment of a $200 million advance for 14 months. Barclays advanced the money when it bought frequent-flier miles from the carrier. US Airways lost $125 million in the first nine months of this year on lower revenue, after losing $2.1 billion last year. “The past two years have been exceptionally difficult for our industry and US Airways,” Parker told employees. He said the company was fortunate to have partners willing to help, but “we cannot continue to lose money indefinitely and fund our losses through financing and partner support.” Shares of US Airways rose 8 cents, or 2.6 percent, to $3.18 in morning trading. See the article here: US Airways defers delivery of 54 aircraft (AP)

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WASHINGTON–(BUSINESS WIRE)–Dr. David Blumenthal, HHS’ National Coordinator for Health Information Technology, today announced plans to make available $80 million in grants to help develop and strengthen the health information technology workforce. The grants that will be made available include $70 million for community college training programs and $10 million to develop educational materials to support these programs. Both programs will support the immediate need for skilled health information technology (health IT) professionals who will enable the broad adoption and use of health IT throughout the United States. Authorized by the American Recovery and Reinvestment Act (ARRA), the grants are the first in a series of programs to help strengthen and support the health IT workforce. Additional details regarding the grant programs for these and other key resource and training areas will be announced over the next several weeks. “Ensuring the adoption of electronic health records (EHRs), information exchange among health care providers and public health authorities, and redesign of workflows within health care settings all depend on having a qualified pool of workers,” Dr. Blumenthal said. “The expansion of a highly skilled workforce developed through these programs will help health care providers and hospitals implement and maintain EHRs and use them to strengthen delivery of care.” The Community College program will establish intensive, non-degree training that can be completed in six months or less by individuals with some background in either health care or IT fields. Participating colleges will coordinate their efforts through five regional consortia that span the nation. Graduates of this training will fill a variety of roles that both assist health care practices during the critical process of deploying IT systems and support these practices on an ongoing basis. The curriculum development program will make high quality educational materials available to the community colleges so these training programs can be established quickly to meet these workforce needs. Any U.S. non-profit institution of higher learning currently engaged in providing training in health IT that is interested in drafting curriculum or establishing a consortium that includes community colleges may apply for the grants. Information about grant applications will be available shortly at http://healthIT.HHS.gov/HITECHgrants . “Critical to achieving the goal of the Heath Information Technology for Economic and Clinical Health (HITECH) Act and supporting meaningful use of health IT is the availability of a skilled workforce that understands the unique technology and management needs within a clinical setting,” added Dr. Blumenthal. “These newly funded programs are designed to equip the most qualified and advanced IT workforce in the world with the tools they need to modernize our health system.” To learn more about the workforce plans and other HITECH grants programs visit http://HealthIT.HHS.gov/HITECHgrants . Note: All HHS press releases, fact sheets and other press materials are available at http://www.hhs.gov/news . Visit link: HHS Announces Plans to Make $80 Million Available to Support Health IT Workforce (Business Wire)

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DALLAS, Nov. 24, 2009 (GLOBE NEWSWIRE) — BeaconEquity.com announces an investment report featuring Origin Agritech Ltd. (Nasdaq: SEED – News ). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision. The investment report on Origin Agritech Ltd. (Nasdaq: SEED – News ) should be of particular interest to other crop seed and agricultural companies: Monsanto Co. (NYSE: MON – News ), Syngenta AG (NYSE: SYT – News ) and Bunge Ltd. (NYSE: BG – News ). It is available at: http://www.beaconequity.com/i/SEED Get our alerts BEFORE the rest of the market. Follow us on Twitter: http://twitter.com/BeaconEquity Origin Agritech Limited (SEED) is a technology-focused crop seed company serving mainland China. The Company’s activities include specialization in the research and development, production, and sales and marketing of crop seeds (corn, rice, cotton and canola) throughout the People’s Republic of China. SEED, together with State Harvest Holdings Limited, conducts operations in China primarily through its People’s Republic of China (PRC) Operating Companies. In the report, the analyst notes: “The corn hybrids, which SEED produces and distributes include self-developed Aoyu, Deyu series, and some other licensed hybrids, can be classified into two categories, conventional and specialty corn. To date, 68 corn products have entered into state or provincial trial, among which 45 products obtained government approval including 12 with state approval. The Company’s Linao 1 and Yuyu 22 were awarded ‘Houji Golden Prize’ and ‘Second Prize for State Advance Science & Technology’ respectively. “The Company’s corn hybrids cover the spring planting region in northeast, central and southwest, and the summer planting region in Yellow river and Huai river and central area of China. SEED’s sales area covers all corn producing areas from northeast to southwest. Sales volume is among Top 3 in the mainland market.” To read the entire report visit: http://www.beaconequity.com/i/SEED See what investors are saying about these stocks at: http://www.stockhideout.com/ BeaconEquity.com is one of the industry’s largest small-cap report providers. Beacon strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information on Beacon Research, please visit http://www.BeaconEquity.com Beacon Equity Disclosure DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Beacon Equity Research nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them. Link: Beacon Equity Issues Technical Trading Overview for Origin Agritech Ltd. (GlobeNewswire)

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LITTLE ROCK, Ark. (AP) — Phone company Windstream is buying Iowa Telecommunications Services for $1.1 billion in cash and stock. Windstream Corp. said Tuesday that the acquisition of Telecommunications Services Inc. will expand its operations into Iowa and Minnesota, adding about 256,000 phone lines, 95,000 high-speed Internet customers and 26,000 video subscribers. The deal is expected to close in mid-2010. Little Rock, Ark. Windstream has been snapping up rural phone companies. Three weeks ago, Windstream said it would buy NuVox Inc. for $643 million. Its acquisition of D&E Communications Inc., announced in May, was approved by Pennsylvania regulators earlier this month. Iowa Telecom shareholders will get 0.804 shares of Windstream stock and $7.90 in cash for each share they own. See the rest here: Windstream to buy Iowa Telecom for $1.1 billion (AP)

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Shares of Chinese Origin Agritech (NASDAQ: SEED – News ) gapped higher again on Tuesday after nearly doubling during the week’s first session. {”s” : “cga,cnh,de,mon,mos,pot,seed”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Beijing-based Origin Agritech surged higher yesterday after China’s Ministry of Agriculture approved the sale of the company’s genetically modified phytase corn. Phytase, according to the press release, aids in phosphorus absorption in animals, and is a mandatory additive for animal feed in Europe, Southeast Asia, South Korea, Japan, and other regions. Origin’s phytase transgenic corn will eliminate the need to purchase phytase and mix it into animal feed, thus reducing expenses related to machinery and labor hours. According to Origin’s website, the company has sent 68 corn products to trial, 45 of which have received government approval. Other products include hybrid rice, cotton, and canola seeds. Momentum from the phytase corn approval carried into today’s session, sending shares higher by 9%. Last week, a number of agricultural stocks were top performers. The Agricultural Chemical and Fertilizer Stocks Index was among tickerspy’s top performers for the period, led by China Green Agriculture (NYSE: CGA – News ), which shot up by 27%. Elsewhere in the fertilizer segment, Potash (NYSE: POT – News ), Monsanto (NYSE: MON – News ), and Mosaic (NYSE: MOS – News ) have all pushed higher in the last five sessions. Last week we covered Jim Cramer’s optimism for the fertilizer stocks , which he suggested were “at a bottom worth playing.” Other agricultural plays can be found in the Farming, Mining, and Construction Machine Stocks Index where Deere (NYSE: DE – News ), CNH Global (NYSE: CNH – News ), and Titan Machinery (NASDAQ: TITN – News ) have all added more than 4% in the last five trading days. Investors looking to bet on the agricultural segment can track the above Indexes for performance trends and a suite of other metrics. Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from stem cells to green energy to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett! See original here: Not You Grandfather’s Ag Stock (Indie Research)

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NEW YORK (AP) — Barnes & Noble on Tuesday posted a loss in the fiscal second quarter and lowered its guidance due to expected weak holiday sales and higher-than-expected costs to ramp up production of its electronic book reader, the Nook. AP – FILE – In this May 18, 2009 file photo, a customer reads magazines inside the Barnes and Noble … {”s” : “bks”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Barnes & Noble launched its e-reader Nook, a competitor with Amazon.com’s popular Kindle, last month and said the device would begin to ship in late November. Last week, it said the Nook had sold out and orders placed beginning Nov. 20 would be fulfilled Jan. 4. On Tuesday, the company said it was ramping up production for the Nook, causing higher-than expected production costs, and said it would increase future investment in its digital strategy. The bookseller’s fiscal second-quarter loss totaled $24 million, or 43 cents per share. That compares with a loss of $16 million, or 34 cents per share, last year. Excluding costs related to purchasing its college bookstore unit from its chairman, the loss totaled 30 cents per share. Revenue rose 4 percent to $1.16 billion from $1.11 billion last year for the period ended Oct. 31. Best sellers included Dan Brown’s “The Lost Symbol,” Jeff Kinney’s “Dog Days” from the “Diary of a Wimpy Kid” series and Mitch Albom’s “Have a Little Faith.” Sales in stores open at least one year, considered a key retail measurement because it excludes the effect of adding or closing stores, fell 3.2 percent. The company, based in New York, now expects fiscal-year earnings of 33 to 63 cents per share, down from previous guidance of 59 to 89 cents per share. Analysts predict a profit of 99 cents per share. It expects sales in stores open at least a year to fall 1 to 3 percent. Traditional bookstores have had rough going because of increased competition from online sellers and discounters. Consumers have also shifted away from discretionary purchases amid tough economic times. Smaller rival Borders Group said lost $38.5 million, or 64 cents per share, in the third quarter. That compares with a loss of $172.2 million, or $2.85 per share, during the same period a year earlier. Its revenue fell 13 percent to $602.5 million. Here is the original post: Barnes & Noble reports 2Q loss, cuts guidance (AP)

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DUBAI, UAE, November 24 /PRNewswire/ — Abraaj Capital Group announces that it agreed to acquire all of Riyada Ventures the leading venture capital firm in the MENA region. The acquisition is at the core of a major new push by Abraaj into the small and medium enterprise (SME) space, which is aimed at stimulating and supporting entrepreneurial activity in this vital segment of the MENA region’s economies. Riyada Ventures, which was set up in the Jordanian capital, Amman, in 2005, this week won the ‘Venture Capital Firm of the Year’ award for a second straight year at the Private Equity World MENA 2009 conference in Dubai. Riyada Ventures, whose track record encompasses more than 25 regional and international venture-capital transactions, also operates an office in Cairo. Its founder and CEO Khaldoon Tabaza has worked in the MENA venture-capital industry since 2000, prior to which he set up several high-growth entrepreneurial ventures. In 2006, the World Economic Forum (WEF) named him a ‘Young Global Leader’. Riyada Ventures will be integrated by Abraaj into its newly launched regional SME and Entrepreneurship initiative. Khaldoon Tabaza will continue as the CEO of the new business line of Abraaj. Abraaj has enjoyed significant past success in the SME space, having been an early backer of Maktoob.com, the leading Arab language portal recently acquired by Yahoo! It was also the original institutional investor in companies of the caliber of Arabtec, Aramex and Amwal at very early stages of their growth stories, each one resulting in significant returns for the Dubai based PE firm. Through the new initiative, Abraaj will invest hundreds of millions of dollars in SMEs across MENA with the aim of creating high-impact, high-growth, successful businesses to fuel innovation, job-creation, sustainable growth and economic diversification. At its core, the platform will give enormous support to the indigenous entrepreneurship that exists across the broader region. Abraaj will work with governments, regional and international development and investment organisations, and Abraaj’s investor base to provide a pan-regional platform from which investments will be made. In addition to the commercial objectives of the platform, Abraaj will also provide entrepreneurial support at the grassroots level in the form of business mentoring, training and technical assistance so as to stimulate the entrepreneurial spirit in business communities across the region. For companies in which it invests, Abraaj will provide a dedicated back-office platform to offer both strategic support services and operational functionality to facilitate growth plans and provide mentorship to the young entrepreneurs in the SME space, which comprises more than 80% of economic activity across the MENA region. As a further commitment to the countries in which it will invest, Abraaj will allocate a portion of the funds raised for a given nation to the development needs of its less fortunate communities by partnering with an established sustainable development fund that provides patient capital and that subscribes to the philosophy of sustainable philanthropic capital. Founder and CEO of Abraaj, Arif Naqvi, said: “We are delighted to welcome Khaldoon and his team at Riyada Ventures into the Abraaj group, to spearhead our regional enterprise-development initiative. Abraaj is committed to creating the region’s largest dedicated platform to support entrepreneurship and innovation within the high-growth economies of the MENA region.” Founder and CEO of Riyada Ventures, Khaldoon Tabaza said: “Abraaj’s groundbreaking initiative in the SME and entrepreneurship space will be a positive inflexion point in the development of high-impact, high-growth ventures in the MENA region. We are honoured and delighted to be part of the Abraaj success story.” About Abraaj Capital: Dubai-based Abraaj Capital is the largest private equity group in the Middle East, North Africa and South Asia (MENASA). Since inception in 2002, it has raised about US$ 7 billion and distributed almost US$ 3 billion to investors. It has made more than 35 investments in 11 countries and exited 20. The group operates offices in five countries, including Saudi Arabia, Egypt and Turkey. About 155 people work in Abraaj, including around 75 world-class investment professionals. Abraaj has holdings in some 25 companies, including some of the region’s most prominent, such as Air Arabia, the region’s biggest low-cost carrier; Acibadem Healthcare Group, Turkey’s biggest privately owned operator of premium hospitals; and Al Borg, the Middle East’s biggest medical-testing laboratory company. Abraaj has won several international awards, including ‘Middle Eastern Private Equity Firm of the Year’ from London-based Private Equity International four years in a row. Abraaj Capital Ltd., a member of the Abraaj Capital group, is licensed by the Dubai Financial Services Authority, while the group is also an associate member of the European Venture Capital Association. Abraaj’s commitments to Corporate Social Responsibility include a US$ 10 million educational trust fund for Palestinian children who lost parents during conflict in Gaza in December 2008 and January 2009. The Abraaj Capital Art Prize, the world’s most generous art prize, is designed to support artists from the MENASA region. This document is issued by the Abraaj Capital Group and is intended for general information purposes only. It does not constitute an offer or solicitation for any business transaction or investment advice. For more information, please contact: James Cordahi / Eliane Menassa Switchboard: +971-4-506-4400 Emails: communications@abraaj.com ; james.cordahi@abraaj.com ; eliane.menassa@abraaj.com Dubai International Financial Centre (DIFC) Gate Village 8, 3rd Floor PO Box 504905 Dubai, United Arab Emirates http://www.abraaj.com Continued here: Abraaj Capital Group Acquires Leading VC Firm Riyada to Spearhead New SME Platform (PR Newswire)

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By Umesh Desai HONG KONG, Nov 24 (Reuters) – Thai interest rate swaps continued their fall across maturities on Tuesday as positions built during earlier weeks in anticipation of rate increases were reversed. In New Zealand, swap rates and bond yields rose after a survey showed inflation expectations for the next two years have jumped sharply, and that the economy will post improved growth next year. Thailand’s one year swap THBSB6TH1Y= fell 6 basis points to 1.39 percent, the lowest since April 2004. Swaps have fallen nearly 30 basis points since the start of the month. The fall was across the curve with the 2-year swaps THBSB6TH2Y= down a hefty 10 basis points at 2.06 percent. “The curve was very steep, pricing in too much recovery and expectations of a rate hike,” said a Bangkok-based fund manager. “It is now retracing back that move and cutting expectations that fiscal policy will suck a lot of money out of the system,” he said referring to earlier expectations the government will go on an aggressive fund raising programme to finance expenditure. But those spending plans were slowing down due to bureaucratic snags and political distractions, he said. The Thai bond curve steepening between July and mid-October as the market prepared for an eventual rate rise. The spread between 5- and 1-year bonds more than doubled to more than 2 percentage points. As interest rate expectations are pushed out later into 2010 or into 2011, these bets of higher interest rates in the immediate term are being unwound, dealers said. NEW ZEALAND The quarterly survey of expectations on behalf of the Reserve Bank of New Zealand (RBNZ) showed business managers forecast annual inflation to average 2.1 percent over the coming year, from 1.8 percent in the August survey. The survey also showed economic growth is expected to pick up, with gross domestic product rising 1.7 percent in the coming year from 0.8 percent in the previous survey. One-year swaps NZDSM3NB1Y= rose to 3.42 percent from 3.41 percent and the 2-year NZDSM3NB2Y= rose 3 bps to 4.41 percent. The 10-year bond NZ10YT=RR yield rose one basis point to 6.035 percent. “Today’s data will provide rich ammunition for those calling for higher rates from the RBNZ, warning of the risks of a top-side breakout in inflation,” said Sean Keane, director of Triple T Consulting and former money market trader at Credit Suisse, said in a note.  Continued… See the article here: MONEY MARKETS-Thai swaps extend slide as rate hike bets unwound (at Reuters)

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ABINGDON, UK–(BUSINESS WIRE)–Oxagen Limited, a drug discovery and development company specializing in inflammation, announced today the successful completion of a £16 Million ($26.7 Million) Series C round led by Novartis Venture Funds. The proceeds of the funding will be used primarily to advance Oxagen’s CRTH2 antagonist programme in inflammatory and respiratory diseases. This will include the completion of an ongoing Phase IIb clinical study of the lead molecule OC000459 in moderate persistent asthma. This follows the successful completion of proof-of-concept (POC) studies in both asthma and allergic rhinitis. CRTH2, also known as DP2 is a cell surface receptor for prostaglandin D2 and is implicated in allergic inflammation. The funds will also be used to expand the therapeutic indications for CRTH2 antagonists using the lead molecule as well as back-up compounds. The investment was led by Novartis Venture Funds, and joined by existing investors including MPM Capital, SV Life Sciences, Advent Ventures, Bessemer Venture Partners, Omega, Abingworth, IBT, Red Abbey and The Wellcome Trust. Commenting on the fundraising, Mark Payton, Ph.D., Chief Executive Officer of Oxagen said, “We are delighted to welcome Novartis Ventures as a new investor in Oxagen. We are excited by the potential shown to date by CRTH2 antagonists in general and by OC000459 in particular. This funding will allow us to both advance and broaden the therapeutic utility of our portfolio of molecules. We are delighted that this potential has been recognised both by our new lead investor, as well as by our strong base of existing investors.” Anja König, Ph.D., Managing Director at Novartis Venture Funds commented “We are looking forward to joining Oxagen in their exciting effort to deliver their first in class medicine to patients with asthma, a condition with significant unmet need. CRTH2 is a very promising new target in asthma and inflammation and Oxagen’s lead compound has the potential to become a blockbuster.” Anja König will join the Oxagen Board of Directors. -ENDS- Notes for Editors: About Oxagen Oxagen is a biopharmaceutical company building a novel drug pipeline with a focus on inflammatory and respiratory diseases. Oxagen’s pipeline of novel small molecule drugs is based on targets validated in man. Oxagen was established in April 1997. The Company is based in Milton Park, south of Oxford. For more information on Oxagen, please visit www.oxagen.co.uk Here is the original post: Oxagen Limited Raises £16 Million in Series C Private Venture Capital Financing Led by Novartis Venture Funds (Business Wire)

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BRUSSELS (AP) — European Union antitrust regulators on Tuesday dropped a two-year monopoly abuse probe into wireless chip maker Qualcomm Inc., saying they have to focus their priorities elsewhere. The European Commission said the companies that had complained about the royalty fees San Diego-based Qualcomm charged for key third-generation cell phone patents are now withdrawing their allegations. Broadcom Corp., NEC Corp., Nokia Corp., LM Ericsson, Panasonic Mobile Communications and Texas Instruments Inc. had claimed that Qualcomm broke agreements among patent holders to keep costs at reasonable levels. The EU’s executive said it was still concerned about how technology was priced after it was adopted as an industry standard but could not commit the time or resources to “complex” assessments. “Any antitrust enforcer has to be careful about overturning commercial agreements,” it said in a statement. “The commission does not consider it appropriate to invest further resources in this case.” Read the original here: EU drops Qualcomm antitrust probe (AP)

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SHANGHAI (AP) — Chinese shares retreated Tuesday on policy uncertainty ahead of the government’s annual economic planning meeting. The benchmark Shanghai Composite Index plunged by 115.14 points, or 3.5 percent, to close at 3,223.53. The Shenzhen Composite Index for China’s smaller second exchange lost 4.3 percent to 1,175.01. Investors worry that the government meeting this month might issue policy changes that could reduce liquidity, said Zheng Gang, an analyst for Yingda Securities in the southern business center of Shenzhen. Regulators ordered Chinese banks on Monday to control lending and manage risks better. Before Tuesday’s decline, the market had gained 11.4 percent this month. “With such a rapid growth pace, investors are scared at anything that might move the market,” said Zheng. Bank and resources heavyweights led the drops. Industrial & Commercial Bank of China Ltd., China’s biggest commercial lender, shed 2.7 percent to 5.32 yuan. Bank of China Ltd. slipped 2.3 percent to 4.25 yuan, while China Construction Bank Ltd. dropped by 2.9 percent to 6.1 yuan. PetroChina Ltd., Asia’s biggest oil and gas producer, lost 3 percent to 13.68 yuan, while China Petroleum & Chemical Corp., Asia’s largest refiner by capacity, declined by 3.9 percent to 12.15 yuan. Medical shares fell after surges in previous sessions. Shenzhen Neptunus Bioengineering Co. lost 6.7 percent to 19.5 yuan, while vaccine maker Hualan Biological Engineering Co. declined 5.5 percent to 58.34 yuan. Steelmakers rose on higher steel prices. Baoshan Iron & Steel Co., China’s biggest steel producer, gained 3.4 percent to 8.23 yuan. Inner Mongolia BaoTou Steel Union Co. advanced 7 percent to 5.18 yuan. In currency markets, the yuan weakened to 6.8293 to the U.S. dollar, down from Monday’s close of 6.8281. Go here to see the original: China shares fall on economic policy uncertainty (AP)

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(Reuters) – Kenneth Feinberg, the Obama administration’s pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc (NYSE: AIG – News ) for 2010, the Wall Street Journal reported, citing people familiar with the matter. The officials believe very severe curbs could harm the insurer and eventually the taxpayers, according to the paper. AIG, which has received up to $180 billion of federal aid, including more than $80 billion in loans, is 80 percent-owned by U.S. taxpayers. Last month, Feinberg slashed compensation for top earners at seven bailed-out companies including AIG for the final two months of the year. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Dan Lalor) See the rest here: U.S. officials press Feinberg to ease AIG curbs: report (Reuters)

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SEATTLE, Nov. 24 /PRNewswire-FirstCall/ — Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) management will present at the 21st Annual Piper Jaffray Health Care Conference. The conference will be held December 1-2, 2009, at the New York Palace Hotel. CTI will present on Tuesday, December 1 at 11:00 a.m. Eastern Time in Holmes 1 (4th Floor). A live audio webcast of CTI’s presentation will be available at www.celltherapeutics.com , and it will also be available for replay afterwards. Piper Jaffray Health Care Conference New York Palace Hotel, Holmes 1 (4th Floor) CTI Presentation: Tuesday, December 1, 2009 11:00 a.m. Eastern /5:00 p.m. Central European /8:00 a.m. Pacific Audio webcast at www.celltherapeutics.com Media Contact: Dan Eramian T: 206.272.4343 C: 206.854.1200 F: 206.272.4434 E: deramian@ctiseattle.com www.celltherapeutics.com/press_room Investors Contact: Ed Bell T: 206.272.4345 Lindsey Jesch Logan T: 206.272.4347 F: 206.272.4434 E: invest@ctiseattle.com www.celltherapeutics.com/investors Read more: Cell Therapeutics, Inc. (CTI) to Present at 21st Annual Piper Jaffray Health Care Conference (PR Newswire)

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BANGKOK (AP) — Asian stock markets were mostly lower Tuesday despite gains on Wall Street as China’s warning to banks to control lending dragged down financial stocks in Hong Kong. The region also got a poor cue from Japan, where stocks fell after the market was closed for a holiday Monday. The dollar was little changed against the euro and the yen. Gold retreated from a record and oil prices hung below $78. Investors shrugged off Wall Street ending a three-day losing streak Monday and figures showing that U.S. home sales rose 10 percent in October. News that China’s central bank was warning banks to control a lending spree underlined there are limits to the easy credit which has underpinned the country’s rapid recovery from the global recession. “The central bank has been concerned about lending to the property sector,” said Franics Lun, general manager of Fulbright Securities Ltd. in Hong Kong. “If they can put on the brakes to avoid an asset bubble it is likely to be better for the longer term,” he said. Japan’s Nikkei 225 stock average was down 72.73, or 0.8 percent, at 9,421.53 and Hong Kong’s Hang Seng was off 48.61, or 0.2 percent, at 22,722.78. Banks fell in Hong Kong trade with Bank of China off 2.1 percent, China Construction Bank down 1 percent and HSBC retreating 0.3 percent. Elsewhere, South Korea’s Kospi dropped 0.9 percent to 1,604.66 and Australia’s S&P/ASX 200 index declined 0.5 percent to 4,691.40 on losses in banks and miners. China’s Shanghai benchmark bucked the trend to rise 0.1 percent to 3,342.28. In the U.S. on Monday, the Dow rose 132.79, or 1.3 percent, to 10,450.95, after losing 120 points over the previous three days. It was the Dow’s highest close since Oct. 2, 2008. The Standard & Poor’s 500 index rose 14.86, or 1.4 percent, to 1,106.24. Oil hovered below $78 a barrel in Asia amid mixed signs about crude demand. Benchmark crude for January delivery was up 10 cents to $77.66 a barrel. The contract rose 9 cents to settle at $77.56 on Monday. In currencies, the dollar fell to 88.89 yen from 88.97. The euro fell to $1.4946 from $1.4964. More: Asia markets lower amid China warning to banks (AP)

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SINGAPORE (AP) — Oil hovered below $78 a barrel Tuesday in Asia amid mixed signs about the global economy and crude demand. Benchmark crude for January delivery was up 16 cents to $77.72 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 9 cents to settle at $77.56 on Monday. Investor optimism was buoyed by a report Monday from the National Association of Realtors that October home sales rose more than 10 percent, suggesting strength in the U.S. economy. But crude refiner Valero Energy said it shut down a plant last week because demand for oil products such as gasoline has been weak. Crude has bounced between $76 a barrel and $82 for more than a month as a weakening dollar offsets concerns about tepid consumer demand. Oil often trades inversely to the strength of the dollar as investors buy commodities as a hedge against inflation. Societe Generale said weakness in the dollar and expectations of higher inflation have provided for a floor for the oil price, limiting losses. “The ceiling has been set by weak refining margins, lackluster demand and a global economic recovery that is expected to be sluggish,” it said in a report. In other Nymex trading, heating oil was steady at $1.98 a gallon. Gasoline for December delivery held at $1.98 a gallon. Natural gas for December delivery was little changed at $4.47 per 1,000 cubic feet. In London, Brent crude for January delivery rose 20 cents to $77.66 on the ICE Futures exchange. Original post: Oil hovers below $78 as traders eye dollar, demand (AP)

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WASHINGTON (AP) — Most Americans don’t expect a health care overhaul to affect their lives directly, but those who worry about the fallout outnumber those expecting to come out ahead, a poll out Tuesday has found. The survey by the nonpartisan Robert Wood Johnson Foundation finds that Americans are tuning in to the debate in Washington, with 60 percent saying they’re following it very closely or fairly closely. Most see a change ahead for the nation, and they’re divided on whether that will be for good or ill. But when it comes to their own personal lives, Americans say they don’t expect much of an impact. Asked how the health care overhaul would affect their own access to medical care, 57 percent said it would stay the same. Similarly, 61 percent said their personal financial situation would stay about the same. Among those who do expect a change, 28 percent said they thought their access to care would get worse, while 15 percent said they thought it would improve. On finances, 27 percent said they thought the health care bill would make them worse off financially, while 12 percent expected an improvement. “The majority of Americans do have health insurance, so to the extent they see the reform debate as a way to expand coverage for the uninsured, they may not see that they stand to gain as much from it,” said Brian Quinn, a senior researcher with the foundation, which supports the general goals of health care reform. Answers shifted when the poll asked about changes in store for the country as whole. Fewer than 30 percent thought things would stay the same if Congress passes legislation. Americans split 35-35 on whether access to medical care would improve around the country. Concern about the federal budget was sharper, with 39 percent saying the nation’s finances would be worse off, compared with 33 percent saying the legislation would improve the balance sheet. Nonetheless, Americans seem to want lawmakers to tackle health care. Seventy-nine percent say it is important for President Barack Obama to include health care reform in addressing the nation’s economic crisis. The Democratic bills would require all Americans to carry health insurance, with government help to make premiums more affordable. They would ban insurance companies from denying coverage or charging more to people with health problems. They would set up new insurance markets for those who now have the hardest time finding and keeping coverage — self-employed people and small businesses. The poll, a monthly status check on Americans’ views about health care, also found that consumers’ confidence in their health insurance coverage and ability to access care increased sharply in October. Indeed, Robert Wood Johnson’s index of consumer health care confidence rose to 104.4 points, up about 8 percent from 96.6 in September. Researchers credited better news about the economy and progress on health care in the Senate at the time the poll was conducted. The telephone survey of 500 people was conducted between Sept. 24 and Oct. 27. It has a margin of error of plus or minus 4.4 percentage points. Original post: Poll: Americans conflicted over health overhaul (AP)

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SAN FRANCISCO (AP) — Hewlett-Packard Co.’s cost-cutting and push into new markets is helping soften the blow from weakness in the company’s mainstay businesses. AP – FILE – In this March 8, 2009 file photo, the Hewlett-Packard Co. facility in Palo Alto, Calif., is … HP on Monday reported big revenue declines in four of its main divisions — PCs, servers, software and printers — in the latest quarter. A bright spot was technology services, a division HP beefed up last year with the $13.9 billion acquisition of Electronic Data Systems and which posted better profits. HP is eliminating 24,600 jobs as part of that takeover. HP’s numbers reinforce trends other companies have reported: Consumers and China are showing stronger demand, while businesses remain hesitant. Other tech heavyweights such as Google Inc., IBM, Intel Corp. and Microsoft Corp. have reported better conditions in some of their businesses. HP said after the market closed that its earnings jumped 14 percent to $2.4 billion, or 99 cents per share, in the three months ended Oct. 31. That compares with $2.1 billion, or 84 cents per share, in the year-ago period. Excluding one-time items, net income totaled $1.14 per share. Sales fell 8 percent to $30.8 billion, or dropped 5 percent if currency fluctuations are stripped out. By both metrics, the results exceeded the expectations of analysts polled by Thomson Reuters. HP also added $8 billion to its stock buyback program, boosting the total amount available to $12 billion. HP’s latest moves represent a shift away from the company’s dependence on the PC market, which is vulnerable to swings in consumer and corporate spending, as well as to fluctuations in prices for components like memory chips and LCD screens. On the other hand, companies will pay for things like outsourcing services even in lean times, because they save money in the long run. IBM has ridden that model to better profits in the recession, despite slumping sales. The PC division supplies a third of HP’s revenue but just 15 percent of the company’s operating profit, numbers that are getting slimmer as PC makers aggressively cut prices to court cash-strapped consumers and people snap up little laptops called “netbooks” that sell for just a few hundred dollars. In the latest period, HP’s PC shipments rose 8 percent, but revenue in the PC division fell 12 percent. The trend has hurt other PC makers as well. Last week, Dell Inc., the No. 3 PC maker, disappointed investors by reporting a 54 percent drop in net income in its latest quarter. Still, HP’s results support Gartner Inc.’s report Monday that the third quarter was “much stronger” than expected for PC sales. Gartner is now predicting that PC shipments will rise 2.8 percent this year, up from a prior forecast for a 2 percent decline. HP, which is buying 3Com Corp. for $2.7 billion to expand computer networking, announced its preliminary results on Nov. 11, so investors knew what was coming. Still, some apparently expected even better. HP shares dipped 32 cents to $50.70 in extended trading, having closed up 2 percent at $51.02 ahead of the earnings report. See original here: HP profit jumps on cost cuts, new market expansion (AP)

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WASHINGTON (AP) — Remember the economy’s return to growth last quarter? Well, it probably wasn’t as energetic as first thought. A government report due out Tuesday morning is expected to show that the economy expanded at a pace of 2.9 percent from July through September, according to Wall Street economists surveyed by Thomson Reuters. If they are right, it would mark a slower expansion than the 3.5 percent pace reported a month ago. Most of that rebound reflected federal support for spending on homes and cars. The main forces behind the expected third-quarter downgrade: commercial construction was weaker, the nation’s trade gap was more of a drag, businesses trimmed more of their stockpiles and consumers didn’t spend as much. So, the good news is the economy finally started to grow again, after a record four straight losing quarters. The bad news: The rebound, now and in the months ahead, probably will be lethargic. Federal Reserve officials and other economists say growth won’t be strong enough to quickly drive down the nation’s unemployment rate. The nation’s current 10.2 percent jobless rate marks only the second time in the post-World War II period that unemployment has topped 10 percent. “It’s a half-speed recovery,” said Stuart Hoffman, chief economist at PNC Financial Services Group. “We’re in the slow lane.” Some economists think growth will slow to around a 2.5 percent pace in the current quarter, although a few say it could clock in at about 3 percent if holiday sales come in better than expected. Most say they think the economy will weaken again next year, with growth at a pace of around 1 percent as the impact of the $787 billion stimulus package fades and consumers keep tightening their belts under the strain of high unemployment and hard-to-get credit. In the third quarter, the popular Cash for Clunkers rebates and an $8,000 tax credit for first-time homebuyers juiced up sales of cars and homes. The clunkers program is over now, but the tax credit has been extended and expanded beyond first-time buyers. What’s not clear is whether the recovery can continue after government supports are gone. If consumers clam up, the economy could tip back into recession. President Barack Obama recently cautioned that the economy could suffer a “double dip” downturn. Fed Chairman Ben Bernanke, however, says he doesn’t think that will happen. But last week the Fed chief did warn the recovery faces “important headwinds,” such as tight credit and a weak job market that will make consumers cautious in their spending. Those factors “likely will prevent the expansion from being as robust as we would hope,” Bernanke said. The government takes three cracks at estimating economic activity for any given quarter. Each estimate is based on more complete data. Tuesday’s will be the second reading of the third-quarter GDP data. The return of economic growth puts the White House in a delicate position: The president wants to take credit for ending the recession, but unemployment is still causing pain and anxiety throughout the country. Millions have yet to feel a benefit from the recovery in the form of a new job or even an easier time getting a simple loan. Even those with jobs are reluctant to go on a spending spree. The values of their homes and 401(k)s remain shrunken. Some economists think the jobless rate could climb as high as 11 percent by the middle of next year before making a slow descent. It could take at least four years for the unemployment rate to drop back down to more normal levels. “The best thing we can say about the labor market right now is that it may be getting worse more slowly,” Bernanke said last week. Against that backdrop, Obama said he’s weighing tax breaks that could encourage businesses to hire again. Unlike past rebounds that were driven by the spending of everyday Americans, this one appears to hinge on spending by businesses, foreigners and — until it runs out — the government. In 1980, businesses led an economic recovery. It quickly fizzled, and the economy fell into a severe recession in 1981 and 1982. The unemployment rate climbed to 10.8 percent, the post-World War II high. Visit link: Economic recovery likely not quite that energetic (AP)

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