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Stocks Up and Down Over Fed designed to lower interest rates and stimulate new consumer and business investment. Bonds were up in anticipation of additional federal spending to buy up supply to help lower interest rates. Commodi... Big News NetworkBenefit cheats who sailed world in £100,000 yacht jailed Couple scuba-dived in Kenya and swam with dolphins in Canary Islands while claiming disability and housing allowancesA couple who claimed £40,000 in benefits while sailing around the world on a luxury yacht were sent to prison today.Shashi Bacheta, 52, and Jeffrey Cole, 58, admitted 20 charges connected with the elaborate fraud, which took place over almost five years. Bacheta was jailed for 21 months at Swansea crown court, while Cole was jailed for nine months.Bacheta claimed she was so ill she could not even get out of bed, while in reality she was scuba diving in Kenya, swimming with dolphins in the Canary Islands and planning to carry on around the world on her lover's £100,000 yacht, the Kismet.Bacheta, a mother of three, was caught out when investigators tracked down the yacht on an internet blog site called smugmug.com. On the blog was a series of photographs of Bacheta and Cole lounging on the decks of the Kismet.The couple spent almost two years sailing the globe on the 70ft GuardianMorningstar Market X-Ray: Stocks Up and Down Over FedMorning Star E.U. Leaders: No More Spending on Stimulus for Now - Washington Post World BRUSSELS, March 20 -- European leaders brushed aside U.S. suggestions for more spending on economic stimulus plans Friday and said an urgent tightening of international financial rules was the best way to combat the worldwide economic crisis. NewsRackUTC chairman: Spending was effort to save marriage Even with divorce actions pending, United Technologies Corp. Chairman George David took his tall, blonde wife on extravagant vacations in Europe and the Caribbean and showered her with expensive jewelry from the fall of 2004 through the summer of 2005. The 67-... SF GateXerox dims first quarter outlook Xerox, the copier and documents company, lowered its first quarter outlook and said it would look to cut $300m in costs this year as the economic downturn has slowed technology spending FTPeek behind GE`s curtain did more damage than good for investors Tired of getting relentlessly pummeled in the press, Jeffrey Immelt, CEO of GE (Symbol: GE), decided to fight back with a little transparency this week. Top execs spent six hours -- six HOURS* -- explaining the inner workings of GE's complicated finance arm to big investors yesterday. The presentation included how GE Capital's profits might be hit under different economic scenarios. And that seems to be where the company's executives lost the investment community. GE's shares, down 75% over the past year, closed down 6% to $9.54 share today. As the conference call was getting rolling on Thursday, the shares had rallied slightly, topping out at $11.35. But as more details poured forth, investors lost faith.GE offered three scenarios. Its GE Capital unit could make $5 billion if growth in the U.S. drops 1.8% or less and unemployment averages 7.7%. That's the profit estimate GE offered back in December. If the economy shrinks 2% and unemployment averages 8.4% -- the Federal Reserve's BusinessWeekHome Insurance - Adequate Cover For Less Understanding can help you maintain a good home insurance coverage and still not spend all you have paying premiums. Reducing your coverage shouldn't be an option unless you were over covered in the first place. Don't be to anxious to reduce your rates that you loose the main reason for taking out a home insurance coverage. E-ZineSeniority issue could be expensive for DeltaAZ Central Hallmark revenue dips 2 percent in 2008 KANSAS CITY, Mo. (AP) - Greeting card seller Hallmark Cards Inc. said Friday its revenue fell 2 percent in 2008, hurt by a decrease in consumer spending around the world. AOL1 2 3 4 |
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