US bid to rescue leading insurer: related news

US bid to rescue leading insurer

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

US indicts UBS wealth management head

UBS suffered its biggest blow yet in the US investigation into its offshore banking activities for rich American clients as US authorities said they had indicted Raoul Weil, the Swiss bank’s head of global wealth management. The US Department of Justice indictment also said other senior unnamed UBS’s executives were involved as alleged “unindicted co-conspirators�. Separately, the indictment includes detailed allegations about how other, more junior, managers sought to circumvent US tax rules over a period of years. The DoJ claims Weil used the expression “toxic waste� to refer to the US business because of its acute sensitivity. In a statement Tuesday night, UBS said Weil would relinquish his duties pending resolution of the matter and said the bank was “fully committed� to continuing co-operating with the probe.

US stocks surge on rescue report

Leading US shares have surged, boosted by a report that the US government might announce a new plan that would help tackle the financial crisis.

Toys "R"Us to Offer Apple iPod "For the First Time Ever"

The iPod phenomenon shows little signs of abating. A spokesperson from the giant, Wayne, NJ-based toys retailer Toys”R”Us informs us that, beginning this month, it will offer a “wide selection of Apple iPod products in all of its Toys”R”Us stores nationwide for the first time ever.” Those comments refer to the American Toys“R”Us outlets and Web sites only. Although iPods aren’t yet listed on America's Toys"R"Us Web site, they have been available through its U.K. affiliate (www.toysrus.co.uk) for well over a year. There's no word when (or if) iPods might become available in Canada through this retail channel.

ACLU Creates Map of US "Constitution-Free Zone"

trackpick points out a recent ACLU initiative to publicize a recent expansion of authority claimed by the Border Patrol to stop and search individuals up to 100 miles from any US border. They have created a map of what they call the US Constitution-Free Zone. "Using data provided by the US Census Bureau, the ACLU has determined that nearly 2/3 of the entire US population (197.4 million people) live within 100 miles of the US land and coastal borders. The government is assuming extraordinary powers to stop and search individuals within this zone. This is not just about the border: This 'Constitution-Free Zone' includes most of the nation's largest metropolitan areas.'"

BrazAlta Announces Private Placement of US$18.6 Million in BCH Ltd. And Provides a BCH Operational Update

BrazAlta Resources Corp. ("BrazAlta" or the "Corporation") (TSX VENTURE:BRX) is pleased to announce that its oilfield services subsidiary, BCH Ltd. ("BCH"), has completed a non-brokered private placement (the "Financing") of 4,474,999 Common Shares of BCH Ltd. ("BCH Common Shares"), at a price of US$4.163 per BCH Common Share for aggregate gross proceeds of US$18,629,421. BrazAlta Resources Corp. acquired 2,282,249 BCH Common Shares and Allis-Chalmers Energy Inc. ("Allis-Chalmers") acquired 2,192,750 BCH Common Shares in the Financing. BCH intends to use the proceeds from the Financing to pay down intercompany debt to BrazAlta (US$7.4 million), interest to Allis-Chalmers with respect to the previously announced US$40 million subordinated convertible debenture (the "Debenture") (US$3.

US Elections: What direction now for US space exploration?

US CONGRESSMAN Adam Schiff was touring Pakistan in May when NASA's Phoenix spacecraft touched down on Mars. He was struck by the glowing accounts of NASA's triumph that suddenly dominated the Pakistani newspapers. "In a country where there are such deep suspicions about what the US does, there was at least one area where the reaction was uniformly positive," says Schiff, whose district in California includes NASA's Jet Propulsion Laboratory, which built Phoenix. "And it's one area where the US shows that it is capable of doing great things."

Paulson reveals bank rescue plan

US Treasury Secretary Henry Paulson says the US government is planning to invest directly in US banks to prevent them from failing, expanding the focus of the government's $US700 billion ($1 trillion) rescue plan.

US open: UK-style bank plan lifts stocks

LONDON (SHARECAST) - Coming off its worst week in three-quarters of a century, Wall Street has opened sharply higher, with a number of crisis stocks leading the way, after a US official confirmed the US Treasury is contemplating a UK-style capital injection for US banks through the purchase of equity.

How US Schools' Culture Stifles Math Achievement

Zarf writes "I'd like to file a bug report on the US educational system. The New York Times reports on a recent study that shows the US fails to encourage academic talent as a culture.'"There is something about the culture in American society today which doesn't really seem to encourage men or women in mathematics," said Michael Sipser, the head of M.I.T.'s math department. "Sports achievement gets lots of coverage in the media. Academic achievement gets almost none."' While we've suspected that the US might be falling behind academically, this study shows that it is actually due to cultural factors that are devaluing the success of our students. I suspect there's a flaw in the US cultural system that prevents achievement on the academic front as valuable.

Toys "R"Us to Offer Apple iPod "For the First Time Ever"

The iPod phenomenon shows little signs of abating. A spokesperson from the giant, Wayne, NJ-based toys retailer Toys”R”Us informs us that, beginning this month, it will offer a “wide selection of Apple iPod products in all of its Toys”R”Us stores nationwide for the first time ever.” Those comments presumably refer to the American (and possibly, the Canadian) Toys“R”Us outlets and Web sites only. Although iPods aren’t yet listed on either country’s Web sites, they have been available through its U.K. affiliate (www.toysrus.co.uk) for well over a year.

US debt rescue plan takes shape

US President George W Bush has defended a rescue package to tackle the worst financial markets crisis for decades.

US lawmakers publish rescue deal

US politicians have announced a $700bn deal to rescue America's financial system and end the credit crunch.

Russia's Soyuz spacecraft carrying US tourist docks with ISS

Russian Soyuz spacecraft TMA-13 carrying US space tourist Richard Garriott has docked with the International Space Station (ISS), RIA Novosti news agency reported today quoting Russia's Mission Control official. The Soyuz TMA-13 craft, which blasted off from the Baikonur space centre in Kazakhstan on Sunday, brought US astronaut Mike Fincke, Russian cosmonaut Yury Lonchakov and US space tourist Garriott to the ISS. Mr Garriott will conduct a variety of scientific experiments during his ten-day stay on the orbiting station. The son of US astronaut Owen Garriott, the sixth space tourist to travel to the ISS made his fortune in online computer games, including the popular Ultima Online. He reportedly paid 30 million dollars for the trip to the ISS.

RuggedCom Announces the Issuance of Two US Patents

WOODBRIDGE, ONTARIO, CANADA - RuggedCom Inc., a leading provider of rugged communications networking solutions designed for mission-critical applications in harsh environments, announced in a press release that it has been granted two patents by the US Patent and Trademark Office issued October 28, 2008 under US Patent No. 7,443,646 and US Patent No. 7,443,054.

How Close Were US Presidential Elections?

Mike Sheppard writes "I'm a graduate student in Statistics at Michigan State University and spent some time analyzing past US presidential elections to determine how close they truly were. The mathematical procedures of Linear Programming and 0-1 Integer Programming were used to find the optimal solution to the question: 'What is the smallest number of total votes that need to be switched from one candidate to another, and from which states, to affect the outcome of the election?' Because of the way the popular and electoral votes interact, the outcome of the analysis had some surprising and intriguing results. For example, in 2004, 57,787 votes would have given us President Kerry; and in 2000, 269 votes would have given us President Gore. In all there have been 12 US Presidential elections that were decided by less than a 1% margin; mean

Al Salam Bank-Bahrain reports net profit of US$60.1 million

(MENAFN Press) Al Salam Bank Bahrain announced a net profit of BD22.7 million (US$60.1 million) for the nine month period ended 30 September 2008 registering increase of 30% compared to BD17.4 million (US$46.2 million) for the corresponding period in 2007. The earnings per share for the period were 18.9 fils against 14.5 fils for the corresponding period in 2007. The results represent a quarterly net profit of BD7.4 million (US$19.6 million) for the quarter ended 30 September 2008 compared to BD3.3 million (US$8.8 million), an increase of 120%, in the corresponding quarter in 2007.

Open Range Energy Corp. Announces Normal Course Issuer Bid for Its Common Shares and Increase to Bank Lines

Open Range Energy Corp. ("Open Range" or the "Corporation") would like to announce that the Toronto Stock Exchange (TSX:ONR) has accepted its Notice of Intention to commence a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as Open Range considers appropriate, up to a maximum of 1,366,662 Common Shares of the Corporation. The maximum number of Common shares to be purchased pursuant to the Bid represents 5% of the issued and outstanding Common Shares of the Corporation as of the date hereof, being 27,334,241 Common Shares. Purchases of Common Shares pursuant to the Bid will be made on the open market through the facilities of the TSX. The price which Open Range will pay for any Common Shares purchased will be the prevailing market price of the Common Shares on the TSX at the time of such purchase.

US government rescues insurer AIG

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

US government bails out insurer

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

US$1.75 eBay bid buys abandoned home

With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.

Dexia agrees sale of US bond insurer

As expected, Dexia has reached an agreement to sell its US bond insurer Financial Security Guarantee.

CHANGING THE WORLDS BANKING LANDSCAPE: US Treasury said to invest in nine major US banks including Citigroup and Bank of America

CHANGING THE WORLD’S BANKING LANDSCAPE: US Treasury said to invest in nine major US banks including Citigroup and Bank of America

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

Cold.Com - Domain Name to Be Auctioned, US$1 Million Minimum Bid

WATERTOWN, Mass., Oct. 16 /PRNewswire/ -- Cold.com will be auctioned in late November with a minimum acceptable bid of US$1 million, announced Patent Kinetics, LLC, an intellectual property strategy, evaluation, and brokerage company. Sealed bids are being accepted until November 14.

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