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Monthly Archives: November 2012

100,000 N.Y. Homes, Businesses Face Months Without Power

“About 100,000 homes and businesses in New York City and Long Island were so damaged byHurricane Sandy that restoring power to some of them may take months, New York GovernorAndrew Cuomo said.

About two-thirds are on Long Island’s south shore, with 36,000 clustered in Staten Island and the Rockaways where the most flooding occurred, Cuomo said yesterday at a news briefing.

“You have some people who have buildings and have homes that you cannot turn on the power until that building or home is repaired or replaced,” Cuomo said. “Those are going to be the most difficult situations.”

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Obama and Boehner May Rehash Failed Debt Talk Plans to Avoid the Fiscal Cliff

“The blueprint for a deal to avoid a fiscal nightmare early next year may be found in the failed debt negotiations between President Barack Obama and House Speaker John Boehner in mid-2011.

Part of their talks on a $4 trillion deficit-cutting plan included a gradual increase in the Medicare eligibility age to 67 and an alternative yardstick for calculating inflation that would reduce annualSocial Security cost-of-living adjustments.”

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$DISH & $DTV May Join Forces to Boost Profits

Dish Network Corp. (DISH)’s stagnating growth is increasing the pressure on Chairman Charlie Ergen to combine with rival DirecTV (DTV), 10 years after a failed attempt.

Ergen said this week that the two largest U.S. satellite-TV providers “have to consider” a deal, potentially joining a rush of consolidation in the telecommunications, cable and satellite-TV industries that has already topped $46 billion in the U.S. this year, according to data compiled by Bloomberg. Dish is facing declining profit this year, and analysts estimate sales will rise only 7.8 percent through 2014, less than 95 percent of the other cable and satellite-TV providers globally.”

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Documentary: G. Edward Griffin – A World Without Cancer

A dear friend of  mine has had a second bout with cancer. This prompted me to do a little research on additional methods of treatment to help compliment his current channels of defense.

I found this to be very interesting; it also chimes in with a documentary i posted a while back called the Beautiful Truth.

At any rate, perhaps this could help someone you know.

I am not a doctor or scientist, but i believe every tool and bit of knowledge is needed to fight this deadly disease killing so many of us.

Cheers on your weekend!

[youtube://http://www.youtube.com.com/watch?v=JGsSEqsGLWM 450 300]

 

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Sanofit Halves Price For Cancer Drug Following Sloan-Kettering Rejection

Capitalism!

“Ignoring the cost of care is no longer tenable,” they wrote. ”Soaring spending has presented the medical community with a new obligation. When choosing treatments for patients, we have to consider the financial strains they may cause alongside the benefits they may deliver.”

Sanofi executives argued that the price they had set was very similar to that of Avastin. “The intent was not to charge a premium,” Christopher A. Viehbacher, the chief executive of Sanofi, said in an interview last month.

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NY Declares the Need for Gas Rationing, Many Still Without Power

“NEW YORK (AP) — A new gasoline rationing plan that lets motorists fill up every other day went into effect in New York Friday morning as a nor’easter that knocked out power anew to hundreds of thousands of customers erased some of the progress made by utility crews.

Police were at gas stations to enforce the new system in New York City and on Long Island. Drivers were out before dawn to line up for their rations.

“This is designed to let everybody have a fair chance, so the lines aren’t too oppressive and that we can get through this,” MayorMichael Bloomberg said.”

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$JCP Posts a Wider Loss Than Expected, Same Store Sales Drop 26%

J.C. Penney Co. (JCP) reported a third- quarter loss that was larger than analysts estimated as Chief Executive Officer Ron Johnson struggles to overhaul the fourth- largest U.S. department-store company. The shares fell in early trading.

The net loss of $123 million, or 56 cents a share, in the three months ended Oct. 27 compares with a loss of $143 million, or 67 cents, a year earlier, the Plano, Texas-based company said today in a statement. Excluding items including store restructuring and management-transition costs, the loss was 93 cents a share. The average of eight analysts’ estimates compiled by Bloomberg was for a 7-cent loss.”

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ECB’s Draghi Praises New Bond Buying Plan

Mario Draghi’s bond-buying plan has become the European Central Bank’s weapon of choice to reduce interest rates even before it has been activated.

ECB President Draghi yesterday praised the impact of the so-called OMT program in lowering borrowing costs, while playing down the prospect of further ECB rate cuts. “Market confidence has visibly improved on the back of our decisions as regards Outright Monetary Transactions,” he said. The announcement “by itself produced an easing of financial-market conditions.”

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Recession Encroaches Upon France as Industrial Production Falls

“French industrial production slumped and confidence among factory executives held near the lowest in almost three years, prompting the Bank of France to indicate that Europe’s second-largest economy may be tipping into recession.

Production fell 2.7 percent in September from August, Paris-based statistics office Insee said today. That’s the biggest drop since January 2009 and more than the 1 percent decline forecast by economists in a Bloomberg News survey. With sentiment among manufacturing executivesunchanged at 92 in October, the Bank of France said the economy may shrink in the fourth quarter. Previous surveys suggest it also contracted in the third.”

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The EU Says They Will Tide Greece Over Until Negotiations Commence Next Week

“European governments will find a way of tiding Greece past next week’s bill redemption as the pieces of an updated aid package take longer than planned to fall into place, a European official said.

While finance ministers on Nov. 12 are unlikely to sign off on 31.5 billion euros ($40 billion) of fresh loans, the result won’t be an “accidental default” for Greece when 5 billion euros of bills mature on Nov. 16, the official told reporters in Brussels today on condition of anonymity.”

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Russia Keeps Rates on Hold as Inflation Unexpectedly Eases

“Russia, the largest emerging economy to raise interest rates this year, refrained from increasing borrowing costs after inflation unexpectedly slowed in October for the first time in six months.

Bank Rossii left the refinancing rate at 8.25 percent at a meeting in Moscow, half a percentage point above the record low, the regulator said in a statement on its website today. The move was forecast by 21 of 23 economists in a Bloomberg survey. Policy makers held their main short-term lending and deposit rates at 5.5 percent and 4.25 percent.

The decision follows a surprise increase in September that policy makers today credited for tamping down inflation expectations. The central bank also cited a stabilization in food costs that pushed price-growth beyond this year’s target range. The statement’s wording suggests an end to the “mini- cycle” of rate increases, according to Vladimir Kolychev, chief economist at Societe Generale SA’s OAO Rosbank (ROSB) unit in Moscow.”

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China Industrial Output Accelerates as Inflation Eases

China’s factory output and retail sales exceeded forecasts and inflation unexpectedly cooled to the slowest pace in 33 months, signaling the government is boosting growth without driving a rebound in prices.

Industrial production rose 9.6 percent in October from a year earlier, the National Bureau of Statistics said today in Beijing. That exceeded the 9.4 percent median estimate of analysts surveyed by Bloomberg News. Retail sales growth of 14.5 percent picked up from September’s 14.2 percent. The consumer- price index increased 1.7 percent.”

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The Aussie and Kiwi Dollars Rally on Better Than Expected Data Out of China

“The so-called Aussie and kiwi reversed earlier declines versus their U.S. counterpart. China’s central bank governor and statistics chief signaled October data to be published from today will show growth improving this quarter in the world’s second-largest economy. Australia’s currency weakened earlier after the Reserve Bank reduced its 2013 growth forecast.”

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Moody’s Cuts $SNE Down to Lowest Investment Grade

Sony Corp. (6758), the Japanese electronics- maker reeling from four straight annual losses, had its credit rating cut to the lowest investment grade by Moody’s Investors Service, citing falling demand for its televisions and cameras.

The long-term credit rating was cut one level to Baa3 from Baa2, Moody’s said in a statement today, assigning a negative outlook. Sony, which unexpectedly reported a seventh straight quarterly loss earlier this month, had its short-term rating cut to Prime-3, also the lowest investment grade, from Prime-2.”

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Credit Agricole Posts a $3.6 Billion Loss on Greek Unit

Credit Agricole SA (ACA)France’s third- largest bank, posted a quarterly loss that exceeded analysts’ estimates on costs tied to the sale of its Greek unit.

The shares fell the most in six weeks after the bank, based outside of Paris, reported a third-quarter net loss of 2.85 billion euros ($3.62 billion). That’s wider than the 1.88 billion-euro average estimate of seven analysts surveyed by Bloomberg.”

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