| Stocks higher as credit concerns ease, U.S. wholesale inflation tame
TORONTO - The Toronto stock market held on to solid gains Wednesday morning as oil prices moved higher and investors continued to pick up commodity stocks that were driven lower during a string of losses last week. New York indexes were little changed following big gains in the previous session as investors took in tame wholesale inflation in the U.S. and investors hoped a bottom is at hand in the subprime mortgage meltdown after HSBC Holdings and Bear Stearns announced big writedowns. Toronto's S&P/TSX composite index climbed 109.3 points to 13,814.44. The TSX Venture Exchange headed 37.94 points higher to 2,984.26 while the Canadian dollar was down from early highs but still ahead 0.37 of a cent to 104.63 cents US.
British PM Announces Bill of Rights, Constitution
In a speech on liberty at the university of Westminster, the PM said that the discussion would focus on how to "entrench and enhance" individual freedoms while also detailng the responsibilities "that flow from British citizenship". Mr Brown expressed his hope that the debate be informed by all people and all viewpoints regardless of any political affiliation. .
Rate Futures Extend Gains After CPI, Certain Of Dec Rate Cut
CHICAGO -(Dow Jones)- U.S. interest rate futures prices extended their gains Thursday morning to levels reflecting market certainty that the Federal Reserve will cut the benchmark funds rate to 4.25% in December following economic data that showed inflation remains in check. The Labor Department reported that the October consumer price index increased 0.3%, and the core CPI, which excludes food and energy prices, increased 0.2%. While both gains were in line with expectations, it came as a jump in energy prices was offset by contained housing and clothing prices. Also Thursday, the Labor Department said that weekly jobless claims increased 20,000, compared with a gain of 3,000 forecast by economists surveyed by Dow Jones Newswires. The stronger-than-expected increase suggests some softening in labor market conditions.
So, he wants a divorce ...
A new book shows women how to survive with finances and wit intact. Vicki King was agonising over bikinis for Ipanema when her husband said their marriage was over. "Oh and, by the way, the trip to Brazil is cancelled." Did she shoot him? Yell abuse and threaten revenge? Nope. She put on her game face and said, "You have a week to tell me your plans. And you'll need to find somewhere else to sleep." Then she rang her parents, siblings and best friend. Otherwise zilch for 24 hours. No chopping suits, no slashing radial tyres, no dobbing to the tax man. "Whatever pops into your head, don't act on it. It could end up hurting you later in court with your settlement, with custody issues," King says, her clipped voice of reason on the line from Richmond, Virginia.
Europe’s banks fall prey to the bears
Storm clouds over troubled US financial stocks blew over the Atlantic on Thursday, pummelling European banks and driving the region's equities sharply lower. Banks jostled for space among the day's biggest losers on the FTSE Eurofirst 300 which was down 1.6 per cent to 1,570.39 as worries grew that further writedowns on their credit market holdings were in the pipeline. .
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