U.S. economic growth needs to get slower by Daniela Simkova

The Commerce Department announced the U.S. economic forecast for the next year, 2008. White House had to slower the economic growth. As a result of economics getting slower, U.S. will face the question of unemployment. The unemployment of U.S. will grow up to 4.9 percent next year, which is the most noticeable decline in the whole history. If we talk about the gross domestic product, GDP, it will grow up instead of 3.1 percent just by 2.7 percent. The GDP is a sum of all products and services provided within a year, which the best shows the economic situation of U.S. Chairman of the White House Council of Economic Advisers, Edward Lazear said: "The housing market decline has been more significant than we expected." On the question if there is possible recession in U.S. economy, Carlos Gutierrez The Commerce Secretary, answered: "We don't see that." The interest rates were lowered twice this year. Firstly in September and then in October to avoid getting economy into the recession. However the question of inflation is more pleasant, it should get better in the year of 2008. White House is expecting prices for consumers to be raised by 2.1 percent.

by Daniela Simkova for PocketNews (http://pocketnews.tv)

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How to be a successful businessman by Eva Matova

Since July31 2007 Mr Rupert Murdoch is the new owner of the American publishing and financial information firm Dow Jones & Company. He spent $5 billion to gain the publisher of the The Wall Street Journal and now hopes to extend its worth even more. Murdoch is a well-known businessman and the owner of many newspapers all around the world such as The Sun, The Daily Telegraph, The Times, web page MySpace, The Twentieth Century Fox and many others. He studied Politics and Economics at the Oxford University, after his studies started to work as a managing director of News Limited and gradualy became one of the most influential men in the world. As he says, one of the most important things in business is to be motivated: "In motivating people, you've got to engage their minds and their hearts. I motivate people, I hope, by example - and perhaps by excitement, by having productive ideas to make others feel involved." If you wonder what I the secret to success, Murdoch says "I try to keep in touch with the details... I also look at the product daily. That doesn't mean you interfere, but it's important occasionally to show the ability to be involved. It shows you understand what's happening.

by Eva Matova for PocketNews (http://pocketnews.tv)

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Impact of the market crisis by Natalia Holvova

If someone thinks that market crisis from last summer is over, they are wrong! The impact and the consequences are very serious and mean more than money loss. The biggest Wall Street banks are made to make decision to low their costs and take the responsibility. First idea of saving money is cutting down people's positions of course and collective firing of their employees. The idea is to save the money that are supposed to pay for benefits in the end of the year which make huge amount and use them for next investments. Bear Stearns is one of the biggest mortgage banks in the Wall Street and lately they had to cut about 900 people of their stuff. This is not just a few people that have to pay for market crisis. The proportions of the crisis impact are becoming more and more real and they do influence personal lives of common people. A lot of banks and Wall Street companies will probably have to do the same by the end of the year. Collective firing is always sad and uncomfortable. People have to leave because of the situation they didn't cause. It is not easy to find a new job in the banking and financing field afterwards as the crisis made it difficult everywhere. Christmas is coming and for a lot of "former" bank employees it can be full of worries and fear of their working future. There is still hope though because every single crisis in the world eventually ended up. The problem is no one knows when and with what kind of final results will end this one.

related story: http://news.yahoo.com/s/ap/20071128/ap_on_bi_ge/bear_stearns_layoffs;_ylt=Aj4goi_gQWHHpol7c5i_KGes0NUE

by Natalia Holvova for PocketNews (http://pocketnews.tv)

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Better times for Citibank? by Jana Kokavcova

Abu Dhabi Investment Authority has maybe a lot of money. Why? The answer of this supposition is very simple. Abu Dhabi invests to CITIBANK. Citibank is great complex of banks in many countries. In Europe has Citibank some smaller offices too. This bank is really famous, but some critical events that were happening on the market last months are for this bank not very happy. Crisis at the market in United States are interesting and very famous in the entire world. Crisis brought big problems, bankrupts, changes in some firms … It is not a surprise. Firms would like to have their shares back but know that they need investors. Citibank should be happy and enjoy this happy time. Abu Dhabi Investment Authority said it will invest more than $7,5 billion in Citigroup Inc. It is enough or not? We don't know. But it is a good chance for this bank to get up on legs again. Is it a risk for Abu Dhabi Investment Authority? Yes, it really is. They would like to try it. What is the reason? What will happen on the market, how will it go? Nobody knows. They should only help for great happy end. I think that this situation will be better after a few months, but there is a possibility that it would not. Banks, firms and companies are in vicious circle. But maybe there is some golden middle way how to escape from problems and come back to normal financial life. Situation is hard not only for Citibank that has possibility to improve its situation.

related story: http://news.yahoo.com/s/ap/20071127/ap_on_bi_st_ma_re/wall_street;_ylt=Aq4bfwf.NIW8liN25UKc9Qms0NUE

by Jana Kokavcova for PocketNews (http://pocketnews.tv)

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Citi"s new shareholders by Claudia Sonea

Late on Monday the officials of US largest bank announced that the losses from mortgages and other investments will be balanced by the new investment made by Abu Dhabi Investment Authority, a sovereign investment fund of the Gulf Arab state, which has benefited from this year's surge in oil prices. The $7.5 billion investment would mean 4.9 percent of Citigroup Inc.'s equity. Despite the statement of Citigroup saying the fund will not be able to name any board members to the bank and is merely a passive one, on the long run, in a few years Authority Investment will take over the bank. If usually the banking offers dividend yield of 7.3 percent, the fact that it will have to pay an 11 percent annual yield for the equity units sold to the sovereign investment fund, is found to be rather high. Furthermore, between March 15, 2010, and Sept. 15, 2011 the percent or the dividends will be transformed in Citigroup common shares at a price of up to $37.24 a share. The Investment Authority's managing director, Sheikh Ahmed Bin Zayed Al Nahayan, stated that their actions are a mere prove of their trust in the bank's power and value and it will be considered as a Tier 1 capital ( for regulatory purposes a company's core cash, which includes stock and disclosed reserves). Although, John McDonald, a Banc of America Securities analyst revealed the fact that the investment is not a permanent solution and it will not fix the bank's debt troubles Citigroup shares rose 98 cents, or 3.3 percent to $30.78 at the open of trading Tuesday, proving that investors are more confident in the bank's future. Since the beginning of this year, Citigroup lost about 45 percent of their value, wiping away $124 billion in market capitalization. The losses (only in the third quarter about $6.5 billion) were followed by the resign of Charles Prince as Citigroup's chairman and chief executive November 4. Moreover, on Monday a new wave of staff lay off was announced after the bank pared its 320,000 workforce by 17,000 positions earlier this year. Abu Dhabi Investment Authority controls hundreds of billions of dollars and like most of the sovereign funds, it has been building up overseas investments recently, much of it on the back of oil prices that have risen more than 60 percent this year, bringing record cash flow to the region. It's a pattern adopted by China and Russia. However, Citibank is in a desperate situation and according to Win Bischoff, acting chief executive, the investment has a perfect timing. Don't go away…more to come.

related story: http://news.yahoo.com/s/ap/20071127/ap_on_bi_ge/citigroup_abu_dhabi;_ylt=AsZffmprEiSHOwh9sGmiClCs0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Good news for the Thanksgiving holiday drivers by Ludmila Martinicka

If you are the one, who takes a car out from the garage and travel around the country to meet all the relatives during the thanksgiving holiday, you might be really delighted. Gas prices fell 0.1 cent. National average is $3.089 a gallon, as information services say nowadays. Week ago the price was about 2.3 cents higher and now it is almost 14 cents below the record price, which was reached in May this year and it was $3.227 a gallon. Thanksgiving is not only feast coming soon. Christmas time is getting closer. So what you spare on the gasoline, you can put in the gifts for your family relatives, friends or invest the money into something just for your own pleasure. The decline of the price could be explained by the import of the crude supplies. Import of the gasoline rose to 11 percent. The demand for gasoline seems to decrease, or at least stagnate. Might be caused by the increasing prices or new lifestyle of ecologically based people pursuing world on natural base. Hopefully, the price of the gas won't reach the $100 a barrel. Otherwise the prices of heating would grow as well. Specialists forecast 22 percent increase of the costs for heating oil costumers this winter. After hitting a new record of $2.7154 a gallon, heating oil features fell 0.27 cent and now the price is $2.6874 a gallon. Our society should maybe prepare for using alternative energy springs. Next Thanksgiving holiday you may drive a car with solar panels on the roof.

by Ludmila Martinicka for PocketNews (http://pocketnews.tv)

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Shaking on the Wall Street by Ludmila Martinicka

No victims of nature disaster, no crashed houses, no attacks. There is no earthquake shaking with one of the most famous streets in Manhattan, in New York city. There is something else shaking with the market. Stocks are falling down, reaching their lowest levels. People are afraid of their investments, market became little bit emotional. One of the reasons could be the coming Thanksgiving holiday. S&P and Dow went 1,5 percent down and The Dow gave up more than 210 points. US marked a positive sign, jobless claims fell down by 11,000 last week. First permanent home of the New York Stock Exchange was the Wall Street. When Wall Street gained on its importance, the same name was given to its geographical surrounding. Now this place represents one of the main parts of the financial industry together with Long Island, Westchester and Fairfield County, Connecticut and New Jersey. The origin of the New York Stock Exchange comes from the Buttonwood Agreement made by traders and speculators in 18th century. Named according to the street, The Wall Street Journal brings daily news from the business area since 1889. The second newspaper with widest circulation is owned by The Dow Jones & Company. There are many points in the history that shook with the Wall Street. Including the material ones. Wall Street bombing in 1920 (FBI never found out the perpetrator), "Great Crash" of the stock market in 1929, attacks in September 2001. This little shaking seems not to be next in the list stated above.

by Ludmila Martinicka for PocketNews (http://pocketnews.tv)

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National Adoption Day by Romana Schlesingerova

Every year, on the Saturday before Thanksgiving, hundreds of judges, attorneys, adoptions agencies, adoption professionals and child advocates volunteer their time to finalize adoptions of children from foster care and celebrate all families who adopt. This day has been given a name- National Adoption Day. Coalition co founded by Freddie Mac Foundation gathered communities from all 50 states of USA and finalized more than 3,330 adoptions of children from the foster care. This November, it was another successful year- the 8th in the row. National Adoption Day began with the Alliance for Children's Rights and support from the Freddie Mac Foundation, the Dave Thomas Foundation for Adoption, and others in the year 2000. Presently, there are about 513,000 children in the foster care system; approximately 114,000 of them are waiting to be adopted. "Year after year, the National Adoption Day Coalition is inspired by the families who open up their homes and hearts to children in need of adoption and the dedicated individuals who devote years to promising a better future to children in foster care," said Ralph F. Boyd, Jr., Chairman and CEO of the Freddie Mac Foundation. This year, president George W. Bush personally joined the celebration. As much as Freddie Mac Foundation succeeded on the charity field, his personal business as the nation n.2 buyer and guarantor of home loans experiences a major crisis. Freddie Mac lost $2 billion in the third-quarter of this year, overrunning all realistic expectations of Wall Street analysts. The future of his company will depend on strict cuts and changes, connected with the raising prices of properties. His career is endangered, but looking back to the National Adoption Day and its benefits, the words of president Bush suit the best: "Few missions in life are more rewarding than uniting loving children with moms and dads for the very first time,"

by Romana Schlesingerova for PocketNews (http://pocketnews.tv)

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The Dow Jones and S&P 500 by Ludmila Martinicka

The Dow Jones Industrial Average, also called informally The Dow or The Dow Jones, is one of several stock market indices in United States and belongs to oldest ones. A stock market index is a listing of stock and a statistic reflecting the composite value of its components. It provides the investors and businessmen with the characteristics of its component stocks. All of them have something in common. For example trading on the same stock market exchange, which belong to the same industry or they have similar market capitalizations. S&P 500 is an acronym of Standards and Poor's, index involving the stocks of 500 Large-Cap corporations, most of which are American. It provides independent credit ratings, indices, risk evaluation, investment research and data. The S&P 500 index is used as a baseline for a comparison in stock and mutual fund performance charts very often. New York came with news about Dow's and S&P's level on the Wall Street. Statistics says, they both fell to their lowest level. Some economical forecasters are worried about the situation. They fear that the losses from the global credit crisis may widen with its announcement of a $1.07 billion write-down, as Swiss Re, the world's biggest reinsurer, said. Sam Rahman, portfolio manager at Baring Asset Management Inc, has the same opinion and says, that it is quite expected. Thanks for the work of companies like Dow Jones and S&P, benchmarks can feel more confident and invest their money with more efficient estimate.

by Ludmila Martinicka for PocketNews (http://pocketnews.tv)

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OPEC loosing it's influence? by Lucia Mitrova

Organization Of Petroleum Exporting Countries (OPEC) met this weekend in Saudi Arabia to discuss cost of oil and digression of US dollar. OPEC was established in 1960 to stabilize prices. But some say, that OPEC is nowadays loosing the influence. "OPEC is still a major force, but it's certainly far less influential that in the 70s or 80s. What we saw at this conference in that leaders of OPEC were giving assurances that they'll do all they can to maintain the stability of the oil supply. But can they do it? We don't know," says Mustafa Alani, at the Gulf research center in Dubai, United Arab Emirates. The discussion was also about the topic, that was not so important in the past, but they are now. Issues like climate change, pricing oil in US dollars, developing nations. Iran and Venezuela have been pushing for the market to be moved from the US dollar into Euro. But analysts say it is very improbable. They've also been pushing for higher oil prices. Saudi Arabia views this as a politicization of the commodity. "Oil ... should not become a tool for conflict and emotions. Those who want OPEC to become an organization of monopoly and exploitation ignore the truth," said Saudi King Abdullah. "There are basically two camps, Iran and Venezuela and one led by Saudi Arabia. What happened at this conference was that the leaders of OPEC & Saudi Arabia and the Gulf states & made it clear they oppose the use of oil as a weapon, so the radicals within OPEC were isolated," says Mr. Alani, the oil analyst. "What's going to happen now is the leaders will do everything they can to maintain supply. But there's very little they can do if there's an attack on Iran or something of that nature. In that case, prices will double, perhaps go to $300 a barrel."

by Lucia Mitrova for PocketNews (http://pocketnews.tv)

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Virgin is set to buy Northern Rock by Corina Ciubotaru

It may seem like an ordinary investment for them and a strange one for most people, but the Virgin company has decided to dive right into the financial market and buy itself a bank. They are determined to own Northern Rock, a traditional bank in the United Kingdom, which they will integrate into the Virgin Money brand. Northern Rock has been severely hit by the mortgage crisis sweeping the United States and customers have lost confidence in it, rushing to withdraw their deposits. The British government has tried to help it in its hour of need, by pouring $40 billion in its reserves, but it seems it was not enough to keep it alive enough for it to recover. The bank will be sold at a discount, or be nationalized, as no bidders agreed to pay the sum owned to the state as well as the bank itself. Right now, Northern Rock stock is worth 1 British pound and bidders include J.C. Flowers & Company, the U.S. private equity company Cerberus and Olivant Advisers of London, apart from Virgin. But it is only Richard Branson's company that came up with a detailed plan on how to save the bank, including repaying some of the debt in the beginning. Bidders exist, but it will ultimately be shareholders who are set to lose the most no matter what the decision is. In the meantime, customers' money is protected by pumping billions and Alistair Darling, Chancellor of the Exchequer, is taking most of the blame for the way things evolved at Northern Rock.

related story: http://uk.news.yahoo.com/rtrs/20071118/tbs-uk-auto-summit-ross-northernrock-03c9bed_1.html

by Corina Ciubotaru for PocketNews (http://pocketnews.tv)

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Is U.S. dollar worthless piece of paper? by Natalia Holvova

Third full summit of the heads of 13 member states and delegates of OPEC took place in Riyadh, Saudi Arabia on Sunday. The main question of the summit was supposed to be the impact of the oil industry on the environment. As it shined up during the meeting, the U.S. Dollar value appeared as more important issue to deal with. There are countries such as Iran and its ally Venezuela that consider U.S. dollar "worthless piece of paper" as Iranian President Mahmoud Ahmadinejad said to the reporters after the end of the summit. U.S. dollar has been historically the currency that always paid for world's oil. Since 9/11 the value of American money is enormously depreciating. This fact influences the value of world oil reserves and the countries that provides petroleum in the world market are loosing their money. Changing the currency can also seem like a political issue considering attitudes of Iran towards President Bush and his politics. When I am thinking about it and trying to find the motivation of making such a big decision in OPEC as changing the currency that always has been legal tender in the gas industry, it must be real. It is incontrovertible fact that U.S. dollar is falling down with the speed no one like to see. But is this really the reason to change the currency and set up new rules that will proclaim American weakness? There still are allies of the United States that will keep the currency on. The question is for how long they are able to face the tense of the world's low oil praises and sequential rising prices for common people?

related story: http://news.yahoo.com/s/ap/20071118/ap_on_bi_ge/opec;_ylt=Aq1o1kjpHQ5kt2LUaIS2npas0NUE

by Natalia Holvova for PocketNews (http://pocketnews.tv)

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There goes the dollar by Claudia Sonea

The American currency is slipping and it becomes weaker against the other currencies each day. On Wednesday it got to record lows against the euro and due to the increasing odds of a new US interest rate cut. The euro got to 1.4725 dollars in earlier trading and ended to 1.4645 dollars. In the recent months the dollar lost ground against most foreign currencies because of fears of slowing US economic growth and the Fed that cut interest rates in an attempt to revive the economy. Also, the Commerce Department report of US sales retail showing a lackluster gain of 0.2 percent in October lead to the weakening of the dollar. However, a separate government survey showed wholesale prices in the United States edged up 0.1 percent in October as a result of a fall in energy prices offsetting the rising cost of food. A measure of inflation at the wholesale level is the producer price index (PPI) that showed a modest 0.1 percent rise, lower than Wall Street expectations of 0.3 percent. Traders say that these recent data will eventually lead to a new Fed rate cut. Nevertheless that might only switch investors' interest towards countries that have higher interest rates. David Rodriguez, a currency analyst at Forex Capital Markets, stated that traders are betting on a 72 percent chance for Fed to cut interest rates by 25 basis points at its upcoming meeting in December. If the dollar slipped against the Swiss currency, it can be regarded as good news that it gained ground against the pound that dipped to 2.0514 dollars and the yen. At this point no one can bet on a 100 percent chance of what will happen. Therefore stay connected and keep in touch with the latest changes.

related story: http://uk.news.yahoo.com/afp/20071114/tbs-forex-us-8cc5291_1.html

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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CRISIS ON THE FINANCIAL MARKET by Jana Kokavcova

A lot of problems are solving on Wall Street these days. It is very hard to hear about writedowns, bankrupts, losses … And it is hard enough not only for investors, banks and firms, but also for government. This week is everyone hoping for change, for signs that the economy will survive the problems in financial sector. But what will happen if things won't go better? Than the Federal reserve will come to rescue this hard situation. Wall Street already expects banks' portfolios to lose at least $20 billion in the fourth quarter. We know about loses in financial sphere & Citigroup Inc., Morgan Stanley, Wachovia Corp. These all firms have some problems with situation on the market and situation in that is U.S. dollar too. The amount of money, that were lost is much bigger than was anybody prepared to hear. The Dow Jones industrial average finished last week down 4.06 percent, the Nasdaq ended the week down 6.49 percent, the Standard & Poor's ended down 3.71 percent. These numbers say all what we need to know. This situation is really hard. If the dollar gets down these days, it can go to huge losses for the world's major financial institutions. And it is not only a joke. There are some reports that write about better situation in last December. So all what can Wall Street do is only to hope.

by Jana Kokavcova for PocketNews (http://pocketnews.tv)

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Stock prices slide again by Claudia Sonea

During the summer stock market suffered severe losses because of the huge volatility and despite the Fed's rate cut Wall Street has not yet recovered. On Wednesday due to the wave of worries about spreading fallout from the credit crisis at banks and about a dollar that just keeps getting weaker bank stocks faced exacerbated declines. To all that summed up the New York Attorney General Andrew Cuomo's statement about conflicts of interest in the mortgage industry, the rumors of China diversifying some of its foreign currency stockpiles beyond the greenback, General Motors Corp's post of a record loss and oil record price- $98 per barrel before retreating. The main concern is that Wall Street doesn't even know the extent of the slide from the credit market crisis that has led to billions of dollars in losses for major banks and investment firms. Furthermore, Citigroup Inc.'s announcement on Sunday that to the $11 billion in writedowns it will add another $8 billion made the investors restless. David Darst, chief investment strategist for Morgan Stanley's global wealth management group said that it is normal for the market to be troublesome when the supposed financial bodyguards are sliding and the investors fear the unknown. The Dow, which had gained 117 points on Tuesday, fell 360.92, or 2.64 percent, to 13,300.02. The Standard & Poor's 500 index fell 44.65, or 2.94 percent, to 1,475.62, while Nasdaq composite index fell 76.42, or 2.70 percent, to 2,748.76. Still their stock prices are up from the last year 6.71 percent in the case of the blue chip Dow, S&P 500 is up 4.04 and the best increase in this ruff conditions represents the 13.81 percent of Nasdaq. Due to NYSE composite index drop there were imposed restrictions in order to stabilize the market and also to prohibit some sell orders. The yield on the 10-year Treasury note also dropped 4.34 percent. Cuomo in its inquiry into what he regards as conflicts of interest in the mortgage industry led to the fell in share price of Washington Mutual Inc. because supposedly it is guilty for the inflated home prices nationwide. Furthermore, he issued subpoenas to government-sponsored lenders Fannie Mae and Freddie Mac which also registered drops afterwards. The dollar lost ground against the 13-nation euro and especially after the spreading of the rumor that a senior Chinese political figure said China should spread its $1.43 trillion foreign exchange reserves beyond the dollar into the euro. That helped in keeping pressure on the oil price that settled at $96.37 per barrel on the New York Mercantile Exchange. St. Louis Fed President William Poole stated that there has been made progress into returning to normal, but there is still need for more rate cuts from the Fed. However, that could lead to the dollar's downfall and investors could seek better interest rates elsewhere. As it is, no clear decision can be taken and no one can foretell what will happen, so don't go away.

related story: http://news.yahoo.com/s/ap/20071107/ap_on_bi_st_ma_re/wall_street;_ylt=AhhZQTzcZDVsY9SM0ebBMcGs0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Wall Street still on loss by Claudia Sonea

After the tragic situation on Thursday Wall Street had another difficult session that actually ended with the financial shares lifted many other stock sectors. Continuing credit woes, a weakening dollar and rising oil prices are just some of the reasons for which investors feel unease and despite present situation, they still avoid technology shares after the forecast from Cisco Systems Inc. Federal Reserve Chairman Ben Bernanke warned that the big wave of economic troubles endanger business growth. Appearing before Congress' Joint Economic Committee with the Fed's economic forecast, Bernake stated without giving any solid proves that threats to the economy exists or specific details if the bank is prepared to further cut interest rates. Morgan Stanley, one of the largest and the most reputed investment banks headquartered in New York City, gave detailed accounting of its exposure to subprime debt, pleasing investors by eliminating some of the uncertainty that has wracked Wall Street to varying degrees since the summer period. The Dow Jones industrial average fell 33.73, or 0.25 percent, to 13,266.29; Standard & Poor's 500 index fell 0.85, while the technology-heavy Nasdaq fell 52.76, or 1.92 percent. Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management, predicts more volatility before any clarity with the subprime issue. Still, the yield on the 10-year Treasury note rose to 4.28 percent in after-hours trading. The main problems are that the dollar it is still lower against most other major currencies, while gold prices advanced for the fifth straight day as investors looked for alternatives to an anemic dollar. Also oil prices add inflation pressure sums everything up and determine Bernanke to say that until the middle of next year things will not be brighter for Wall Street. By analyzing mixed corporate news like Morgan Stanley it can be seen that it had an increase of $2.49, or 4.9 percent, to $53.68 in stock prices, or other corporate news- Cisco, the world's largest maker of networking equipment, fell $3.12, or 9.5 percent and has an unfavorable forecast. Michael Jones, chief executive at Clover Capital Management, stated that investors are sitting back, analyzing and hunting for bargain in the contest of such a high volatility and lack of stability. Don't go away…more things on investment to come.

related story: http://news.yahoo.com/s/ap/20071108/ap_on_bi_st_ma_re/wall_street;_ylt=AtLdCsZMSPL7Cvj.5ykQuges0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Market crisis. by Barbie Kunkelova

All the newest headlines that popped up on the Internet 11minutes, 2 or 7 hours ago "Toronto's stocks drop on subprime woe and weak resources", "Kubota profit falls on costs, US housing slowdown", "Hong Kong shares outlook & Lower on fears market may fall further" or "Hong Kong leads Asian stocks fall", "Mumbai: Sensex falls 385 points on profit booking", "Islamabad: KSE register's biggest fall ever after emergency imposition" and "Get ready for the fall" are only backing up the fact that the stock market is falling worldwide. The bigger they are, the harder they fall. I, personally, discovered this on the snowy slopes in Austria. The older I was, the more scared I became of falling and rolling down the hill. It drove me crazy every time a tiny kid on its toothpicks scooted past me on a steep hill. All this sums up the nightmare of every homeowner and every investor in today's market. Every day the Nasdaq, NYSE, Amex, London Stock Exchange or OTCBB publish a list of the market's top stocks (companies whose shares have just hit their highest prices in the preceding fifty two weeks). The investors read this, compare, decide and, recently, tremble. In Pakistan, the stock market suffered the shock of all-time high decline of its history yesterday, November 5th. The investors offload their shares on a very large scale. The financial analysts think that in the upcoming weeks, the market will remain this depressed due to the increasing international pressure and chaos in majority of industrialized countries. By knowing this, would you rush to invest into stocks?

related story: http://news.yahoo.com/s/ap/20071105/ap_on_bi_st_ma_re/wall_street;_ylt=Ao2HixPKszeRAcpt2_CXIZ6s0NUE

by Barbie Kunkelova for PocketNews (http://pocketnews.tv)

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Dollar Still on Decline by Barbora Kasparova

What was once stable and strong currency - the U.S. Dollar is still on decline, the issue analysts and economists have been dealing with recently. Dollar is at its minimum towards most of the world's currencies, on Tuesday morning, for example, Euro was worth 1, 4532 USD. As Pat Buchanan states on creators.com: "A sinking dollar means a poorer nation, and a sinking currency has historically been the mark of a sinking country." According to him, dollar falling trend can have far reaching consequences not only for Americans. The dollar seems to be repeating a pattern & its first fall after the Vietnam War during the so called oil crisis, after the first Persian Gulf War, and - falling again, after the war in Iraq. While George W. Bush is concerned about setting world free from terrorism and dictators, the U.S. citizens face their currency depreciation. Pat Buchanan blames the U.S. foreign deficits, and consequently the American standard of living, that is, once well inhabited, harder and harder to sustain. Lawrence Summers, of Financial Times, in his article "How America must handle the falling dollar" says: "The dollar's decline may provoke anxiety but it should not be a surprise to anyone who has followed the global economy in recent years." (http://www.ft.com/cms/s/0/19910d64-858f-11dc-8170-0000779fd2ac.html) In his opinion, the stabilizing of the U.S. dollar will be a task of the next U.S. administration.

related story: http://news.yahoo.com/s/ap/20071105/ap_on_sc/space_shuttle;_ylt=AqFQzGpcoC91Sc6.tSZM_r.s0NUE

by Barbora Kasparova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

The new rich by Claudia Sonea

According to a research made by a private wealth consultant Advanced Planning Group there is a new class of rich people that are hard working, dedicate and ambitious. Until now sounds great, but there is another side that holds them back, they have a fortune between $1 million and $10 million dollars, but they are still middle-class citizens. Private wealth specialists Lewis Schiff and Russ Alan Prince revealed that the number of people who can be called millionaires had risen 7.6 percent of the US households. These newly enriched people guide themselves after middle class values like earning their money from hard-work (70 hours a week) and moving in safe neighborhoods based on the quality of schools, because their children will choose a career based on its likely earnings. Schiff stated that middle-class millionaires accumulated wealth and they spend it more on things related to family like health and welfare of their family, career development. Usually they start spending money on leisure and luxury activities when they move up the social ladder. The research showed that 89 percent of middle-class millionaires believed anyone could attain wealth through hard work; also they are three times as likely to belong to a networking group, while their constant availability to work by phone or email is five times more likely. The main characteristic is that middle-class millionaires put themselves in the flow of money. All this makes them a strong factor of influenza on spending, habits of their middle class counterparts. Furthermore, their desire to acquire yachts and other luxuries determined the super-rich to change their spending, looking for something new and innovative. The study was made on 3600 people, 600 millionaires and 3,000 middle-class people, with the purpose of gathering material for the new book of Schiff and Prince, called "The Middle Class Millionaire: The Rise of the New Rich and How they are Changing America". It is nothing new that there is a new class of millionaires; history marked several metamorphoses of the social class. It was aristocracy in the beginning, then bourgeoisie and now the middle-class millionaires. Stay connected and see how you can become a millionaire.

related story: http://news.yahoo.com/s/nm/20071101/lf_nm_life/wealth_millionaires_dc;_ylt=AujcI.y6Onbqg04TGxgjASus0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Everything is about numbers by Nina Gotzmannova

Numbers, numbers, numbers. The most important thing in mathematics or economy. Numbers don't lie, numbers are exact and accurate, and numbers are almost holy perfection. And if the numbers are wrong, there is no doubt something rotten in the state of Denmark. State of Denmark of these days is United States. And thanks to the economy crisis is there more rotten than expected. The biggest new number is 362.14. Exactly that is how much points Dow Jones industrial Average slumped down on Thursday. The new point rate of Dow Jones is 13.567,87, meaning the decreasing was exactly 2.60 percent. Another interesting number is 96. In dollars that is the new price for barrel of crude oil, the highest price in history of oil market. Later the price settled down on $ 93.49. Bigger numbers are marked in the job market. 85,000 to 110,000. The gap is 25,000. Of what? Free job position, of course. The first number is for October and the second for September. Positive? Maybe. But most probably it means not that companies filled 25,000 job positions with people, but they close them down and even fired their employees. Positive is, that this month filled for unemployment benefits only 327,000, less than expected. Several companies also reported dropping shares. Exxon Mobil Corp shares dropped 3.8 percent, Bank of America shares dropped 5.3 percent and Citi dropped 6.9 percent. Citi is on its lowest level in four years. So, what is rotten in THIS state of Denmark? When the economy crisis will be over?

related story: http://news.yahoo.com/s/ap/20071101/ap_on_bi_st_ma_re/wall_street;_ylt=Av86gn8VfS8R451sUB3UMXys0NUE

by Nina Gotzmannova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

The Fed cut interest rates for the third time this year by Corina Ciubotaru

The Fed cut interest rates again yesterday, and this is nothing new. It's been the third cut in three months and some say that it's preparing for a fourth in December, all to ease the economic troubles caused by the housing slump. All in all, the American economy is doing well: it rose by 3.9 percent in the last quarter, unemployment is still low and there is a good chance it won't sink into recession. Fortunately the crisis didn't much affect other economies who were worried they might have losses because of the variations of the dollar; the American currency fluctuated a bit and seems to have been calming down in the last few days, after reaching a 47-year low against the Canadian dollar. But at the same time, oil prices rose to nearly $95 a barrel and this may mean higher commodity prices that would automatically lead to inflation. The housing market isn't doing very well either: people go through more trouble to get loans than they did before the crisis so new homes are rarely bought anymore. The Fed's decision to cut interest rates again had a big impact on the financial world, and the Dow Jones rose by more than 100 points after the word as out. The Standard & Poor's 500 index containing 15 major home builders, lost 3 percent and the private sector job grew steadily in October. The economic growth is expected to reach 2 percent in the October-December period because that is when the full effects of the crisis will be better reflected in people's lives.

related story: http://news.yahoo.com/s/ap/20071031/ap_on_bi_ge/fed_interest_rates;_ylt=AqlQKFOD5.GVDVcpxF0GQq.s0NUE

by Corina Ciubotaru for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.