Breaking News Sat., August 30, 2008

Date: Sat, 30 Aug 2008 12:53:37 -0700

HURRICANE GUSTAV STILL CATEGORY 4, NATIONAL HURRICANE CENTER SAYS,
CORRECTING FEMA CHIEF

Markets Friday, 08/29/2008

Friday, 8/29/2008

| Dow : 11543.55 down 171.63

| S & P : 1282.83 down 17.85

| NASDAQ: 2367.52 down 44.12

| Bond (10Y): 3.85%, 101.22

MARKETS:
Friday flameout on Wall Street
Stocks slumped at the end of a positive month and ahead of a long
holiday weekend. Dell earnings, a plunge in personal income and
Hurricane Gustav jitters were in focus.

U.S. stocks positioned for weekly losses and monthly gains

Date: Fri, 29 Aug 2008 17:04:20 -0400
U.S. stocks positioned for weekly losses and monthly gains

U.S. stocks decline Friday, with the indexes poised for monthly gains
and weekly losses, with a July drop in personal income, a rise in oil
prices and a worse quarter than forecast for Dell supporting a bearish
view ahead of the long weekend.

Gustav strengthens into Category 1 hurricane

Gustav regains hurricane strength Friday afternoon as it sets its sights
on the Cayman Islands and traders eye the storm's projected path toward
the Gulf of Mexico.

Futures Movers: Oil, natural-gas futures close lower on storm
uncertainty

Crude and natural-gas futures close lower for the session and the month,
but both finish the week with a slight gain as traders gauged Hurricane
Gustav's potential to damage energy infrastructure in the Gulf of Mexico
during the holiday weekend.

The Ratings Game: Analyst sticks with Lehman buy rating

One of the more candid analysts tracking Wall Street is sticking with
his buy rating on Lehman Brothers, saying the firm will either tackle
the challenges it confronts, or face a hostile takeover.

Dell's quality of sales called into question over price cuts

With a combination of cost cuts and expansion into retail and consumer
markets, Dell Inc. has been carefully working on turning its business
around after several years of disappointing performance. But on Friday,
the PC maker learned just how thin its margin of error was.

Stocks tumble as investors mull Dell's weaker-than-expected earnings and a big drop in personal income.

Date: Fri, 29 Aug 2008 16:01:05 -0400

Stocks tumble as investors mull Dell's weaker-than-expected earnings and
a big drop in personal income.

U.S. stocks weakened by oil's rise, economic data

Date: Fri, 29 Aug 2008 12:03:42 -0400
U.S. stocks weakened by oil's rise, economic data

U.S. stocks declined at Friday's start, with investor sentiment weakened
by July declines in both consumer spending and personal income, with
Dell Inc.'s worse-than-forecast quarter and a rise in oil prices adding
to a bearish view.

Tropical Storm Gustav heads for the Cayman Islands

Tropical Storm Gustav sets its sights on the Cayman Islands late Friday
morning, as energy traders eye its projected path toward the Gulf of
Mexico.

Futures Movers: Oil futures rally more than 2% on storm concerns

Crude-oil futures trade nearly 2% higher, gaining support from ongoing
concerns that Tropical Storm Gustav holds the potential to damage
critical energy infrastructure in the Gulf of Mexico.

The Ratings Game: Analyst sticks with Lehman buy rating

One of the more candid analysts tracking Wall Street is sticking with
his buy rating on Lehman Brothers, saying the firm will either tackle
the challenges it confronts, or face a hostile takeover.

Dell shares slump as earnings disappoint

Investors showed their displeasure with Dell Inc. Friday, sending the
personal-computer giant's shares down more than 12% in the wake of the
PC maker's disappointing earnings report for the second quarter.

Personal income falls .7% in July on tightening economy - more than expected. Consumer spending rises by .2%.

Date: Fri, 29 Aug 2008 08:34:03 -0400

Personal income falls .7% in July on tightening economy - more than
expected. Consumer spending rises by .2%.

Alaska Gov. Sarah Palin is McCain's running mate: reports

Alaska Gov. Sarah Palin is McCain's running mate: reports
8/29/2008 10:41:46 AM

Stocks sink as sharply rising oil prices and weak income and spending report put pressure on the markets.

Date: Fri, 29 Aug 2008 09:32:08 -0400

Stocks sink as sharply rising oil prices and weak income and spending
report put pressure on the markets.

Markets Thursday, 08/28/2008

Thursday, 8/28/2008

| Dow : 11715.18 up 212.67

| S & P : 1300.68 up 19.02

| NASDAQ: 2411.64 up 29.18

| Bond (10Y): 3.78%, 101.78

MARKETS:
Big rally on Wall Street
A surprisingly strong revision to second-quarter economic growth gives
stocks a boost. Oil prices turn lower as worries about impact of Gustav
disruption ease.

Tropical Storm Gustav nears hurricane strength

Date: Thu, 28 Aug 2008 17:04:25 -0400
Tropical Storm Gustav nears hurricane strength

Tropical Storm Gustav nears hurricane strength, pouring heavy rains over
Jamaica, while Tropical Storm Hanna has become the eighth tropical storm
of the Atlantic hurricane season.

MarketWatch First Take: Lehman layoffs: another comeuppance for Wall
Street

If America has any pity left for the Wall Street banker, it was directed
Thursday at Lehman Brothers Holdings Inc.

Rex Nutting: Freedom rings from the Rockies

DENVER
In the span of one lifetime, America has gone from a nation that
tolerated lynchings to a nation that's ready - maybe - to elect an
African-American as president.

Economic Report: Revised U.S. GDP surges 3.3%; high-water mark for
growth?

The second quarter flexes more second-quarter muscle than previously
estimated, but this could represent the high-water mark for the economy
for at least the next year.

A house that takes environmental friendliness into the future

Living green the Smart Home way starts with a state-of-the-art -- and
artistic -- dwelling that borrows from the past and courts the future,
with each low-volume toilet flush, composted apple peel and collected
rain drop tracked by the structure's digital brain.

U.S. stocks strike solid gains on second-quarter GDP

Date: Thu, 28 Aug 2008 12:03:12 -0400

U.S. stocks strike solid gains, with the Dow Jones Industrial Average
and S&P 500 advancing for a third straight day, as financial shares
rallied and the government hiked its previous tally of economic growth
in the second quarter.

Economic Report: Second-quarter U.S. GDP surges 3.3%; was it high-water
mark?

The second quarter flexes more second-quarter muscle than previously
estimated, but this could represent the high-water mark for the economy
for at least the next year.

Obama wins Democratic nomination for president

Sen. Barack Obama formally won the Democratic Party's nomination for
president, becoming the first African-American to be nominated for the
White House.

U.S. stock indexes jump at Thursday's start; GDP revision stokes buying

Date: Thu, 28 Aug 2008 09:40:51 -0400

U.S. stock indexes jump at Thursday's start; GDP revision stokes buying
8/28/2008 9:37:26 AM

Stocks open higher after government reports surprise 3.3% jump in revised annual rate for second-quarter GDP.

Date: Thu, 28 Aug 2008 09:32:08 -0400

Stocks open higher after government reports surprise 3.3% jump in
revised annual rate for second-quarter GDP.

Oil prices cross $120 a barrel amid growing fear that Gustav will gain force and knock out production facilities in Gulf of Mexico.

Date: Thu, 28 Aug 2008 09:11:03 -0400

Oil prices cross $120 a barrel amid growing fear that Gustav will gain
force and knock out production facilities in Gulf of Mexico.

Breaking News: Democrats formally nominate Obama

Date: Wed, 27 Aug 2008 17:52:50 -0500

DENVER - Barack Obama has been formally chosen as the Democratic
presidential nominee by acclamation at the party's convention.

Markets Wednesday, 08/27/2008

Wednesday, 8/27/2008

| Dow : 11502.51 up 89.64

| S & P : 1281.66 up 10.15

| NASDAQ: 2382.46 up 20.49

| Bond (10Y): 3.76%, 101.94

MARKETS:
Stocks gain on durables
Wall Street advances thanks to a strong economic report. Investors set
aside worries about surging oil prices, even as Gustav heads for the
Gulf Coast.

U.S. stocks close higher, paced by energy and financial shares

Date: Wed, 27 Aug 2008 17:04:19 -0400
U.S. stocks close higher, paced by energy and financial shares

U.S. stocks climb higher as investors applaud a July rise in orders for
U.S. durable goods, with a spike in the price of crude viewed as a
temporary reaction to hurricane conditions in the Gulf of Mexico.

Economic Report: Durable goods orders rise surprising 1.3%

Signaling that some businesses have still been spending despite market
turmoil, government data show a surge of 1.3% in new orders for
U.S.-made durable goods during July.

Oil closes above $118 on storm jitters as U.S. supplies fall

Crude-oil futures extend their gains Wednesday, getting support in part
from continuing worries that Tropical Storm Gustav may damage oil
infrastructure in the Gulf of Mexico. Natural gas again rallies.

The Fed: Worst of inflation will soon be behind us: Lockhart

The president of the Federal Reserve Bank of Atlanta comes down squarely
on the side of Fed chief Ben Bernanke, who has argued that inflationary
pressures should ease in coming months.

Clinton, Biden to take Democrats' stage Wednesday

Bill Clinton and Sen. Joe Biden are set to grab the spotlight at the
Democratic National Convention Wednesday evening, with eyes focused on
the former president to see if he matches the rousing endorsement given
by Sen. Hillary Clinton to Sen. Barack Obama and his running-mate Biden.

U.S. stocks finish higher as durable-goods orders rise; oil climbs for third day

Date: Wed, 27 Aug 2008 16:06:51 -0400

U.S. stocks finish higher as durable-goods orders rise; oil climbs for
third day
8/27/2008 4:03:42 PM

Oil jumped almost $2 to settle over $118 a barrel as Tropical Storm Gustav threatens the Gulf of Mexico's oil production.

Date: Wed, 27 Aug 2008 15:02:09 -0400

Oil jumped almost $2 to settle over $118 a barrel as Tropical Storm
Gustav threatens the Gulf of Mexico's oil production.

Midday Report: U.S. stock indexes advance as data support upbeat tone

Date: Wed, 27 Aug 2008 12:03:08 -0400
U.S. stock indexes advance as data support upbeat tone

U.S. stocks climb as investors applaud a July rise in orders for U.S.
durable goods, with a spike in the price of crude viewed as a temporary
reaction to hurricane conditions in the Gulf of Mexico.

Economic Report: Durable goods orders rise surprising 1.3%

Signaling that some businesses have still been spending despite market
turmoil, government data show a surge of 1.3% in new orders for
U.S.-made durable goods during July.

The Fed: Worst of inflation will soon be behind us: Lockhart

The president of the Federal Reserve Bank of Atlanta comes down squarely
on the side of Fed chief Ben Bernanke, who has argued that inflationary
pressures should ease in coming months.

Weekly mortgage applications rise for first time in three weeks

Weekly mortgage applications rise for the first time in three weeks, the
Mortgage Bankers Association says Wednesday.

Clinton, Biden to take Democrats' stage Wednesday

Bill Clinton and Sen. Joe Biden are set to grab the spotlight at the
Democratic National Convention Wednesday evening, with eyes focused on
the former president to see if he matches the rousing endorsement given
by Sen. Hillary Clinton to Sen. Barack Obama and his running-mate Biden.

Foreclosure prevention group says banks helped 91,752 at-risk borrowers keep their homes last month - 2 million in past 13 months.

Date: Wed, 27 Aug 2008 11:07:05 -0400

Foreclosure prevention group says banks helped 91,752 at-risk borrowers
keep their homes last month - 2 million in past 13 months.

Oil prices edge higher after government reports unexpected drop in crude inventories and bigger-than-expected dip in gas supplies.

Date: Wed, 27 Aug 2008 10:39:03 -0400

Oil prices edge higher after government reports unexpected drop in crude
inventories and bigger-than-expected dip in gas supplies.

Stronger-than-expected U.S. durable-goods orders rise 1.3% in July

Date: Wed, 27 Aug 2008 08:36:17 -0400

Stronger-than-expected U.S. durable-goods orders rise 1.3% in July
8/27/2008 8:32:54 AM

Stocks open flat after the government reports a surprise surge in orders for big-ticket items for the 2nd straight month.

Date: Wed, 27 Aug 2008 09:32:09 -0400

Stocks open flat after the government reports a surprise surge in orders
for big-ticket items for the 2nd straight month.

IT in india.'s problems

Subject: IT行業觀察﹕印度科技業巨頭漸失增長動力
Date: Tue, 26 Aug 2008 23:45:17 -0400 (EDT)

關於本電子郵件服務的常見問題

瀏覽《華爾街日報》中文網絡版更多內容

去郵件中心訂閱其他欄目郵件

▀ 印度科技業巨頭漸失增長動力
作為印度經濟增長的發動機，該國信息技術產業正在逐漸失去發展動力，受到科技支出減少、工資上漲、貨幣升值以及員工流失率居高不下等多個問題的困擾。
閱讀全文

北京時間2008年8月27日 11:26 更新

▀ 惠普將完成收購EDS的交易
惠普公司週二稱﹐預計將完成以132.5億美元收購電子資訊系統的交易。該交易是惠普收購康柏電腦以來最大的收購交易。

▀ Ticketmaster借奧運東風打開中國市場
Ticketmaster的首席執行長肖恩．莫里亞蒂稱﹐北京奧運會的門票在世界範圍內賣出680萬張﹐為歷屆奧運會之最。該公司希望借助自己從事北京奧運會票務工作的經歷擴大在華業務。

▀ 尚德太陽能第二財季淨利潤增長58%
尚德太陽能公佈第二財政季度淨利潤增長58%﹐主要是太陽能電力需求持續強勁推動收入和利潤率飆升。該公司因此將2008年財年的收入預期區間整體上調1.5億美元。

▀ 網通上半年淨利潤降5.2%
中國網通集團（香港）有限公司週一公佈﹐上半年淨利潤較上年同期下降5.2%﹐因來自移動通訊運營商的競爭壓力繼續對其固話業務構成負面影響。

▀
中國網通計劃在2008-2010年期間每年增加800萬寬帶用戶
中國網通集團（香港）有限公司首席財務長李福申週一表示﹐公司計劃在2008年至2010年期間每年新增寬帶用戶800萬戶。

閱讀全文

印度科技業巨頭漸失增長動力
2008年08月20日15:11

作

為印度經濟增長的發動機，該國信息技術產業正在逐漸失去發展動力。

10年前，在Infosys Technologies Ltd.、Wipro
Ltd.和塔塔咨詢服務公司(Tata Consultancy Services
Ltd.)的引領下，一批印度企業因幫助解決了"千年虫"問題而在全球名聲大振，這一問題1999年底時曾有導致全球無數台電腦癱瘓的危險。自那以來，印度信息技術產業的年增長率經常達到40%甚至更高，在其推動下一個全球布局的科技外包行業迅速形成，這一行業的誕生改變了全球企業的經營模式，也改變了世界看待印度的方式。

而印度信息技術產業的增長速度現在卻正急速放緩。信貸危機以及企業支出增長放緩正在使印度信息技術產業最大的市場美國遭受損害，而美元走弱又使印度這一行業的利潤出現縮水。一些中、長期問題也隨之浮出水面。從東歐到菲律賓和越南，來自其他低成本國家的競爭正在加劇。而印度自身的經濟成功已推高了該國的勞動力成本，使印度信息技術企業在收入增長逐漸放緩之際自身的低成本優勢也在喪失。

在2006至2007年期間，Infosys的軟件工程師隊伍每年增長，擴編人數達到15,000人。該公司員工的工資年增幅平均達到12%，而越來越高的員工流失率則迫使這家企業將更多財力用於員工培訓。在截至3月31日的上一財政年度，Infosys的利潤增長率降至18%，而它此前一財年的利潤增幅高達56%。塔塔咨詢服務上一季度的淨利潤增長率只有4.9%，遠低於去年同期37%的水平。Wipro的利潤增速同樣慢了下來，在截至3月30日的這一財年只有11.6%，而此前一個財年的利潤增速是42.3%。

據印度國家軟件和服務公司協會(Nasscom)預計，印度信息技術產業未來幾年的收入年增長率將在20%至25%之間，雖然以大多數行業的標準來衡量這一增速仍然強勁，但它卻只是往年增長速度的一半。Nasscom的會長索姆﹒米塔爾(Som
Mittal)上月表示，第一輪的增長總會容易些，未來10年的增長局面將會不同。

為了抵消信息技術行業方面的增長乏力，印度的外包巨頭們正嘗試著啟動一些更雄心勃勃的事業，雖然在有些業務上他們還是生手。在一個被稱做ShoppingTrip360的項目中，Infosys的一批工程師正在以零售商為目標客戶開發一種配有無線設備的購物手推車，這種智能手推車會根據顧客列出的購物單為他畫出在店內最便捷的購物路徑。而Wipro則贏得了一份為空中客車(A380)寬體客機設計洗手間水流系統的合同。塔塔咨詢服務已在金奈建立了一個"創新實驗室"，為航空公司設計改善客戶服務的軟件便是該實驗室工程師們的一項工作，塔塔咨詢服務的高管們受自己乘飛機時不愉快的經歷啟發，產生了這個業務開發創意。

不過這些努力尚未對印度信息技術企業的利潤產生太大提振作用。基本的外包業務仍然是它們生意中絕對的大頭，據Nasscom稱，上一財年這塊業務在總體業務中佔據了84%。但Wipro產品開發子公司過去兩年合計的收入卻也增長了將近50%，去年達到6.86億美元。印度的科技企業希望，它們能借助自己在全球的廣泛業務聯系向各國企業出售新的產品和服務。

塔塔咨詢服務公司是印度銷售額排第一的科技企業，該公司首席執行長S﹒拉馬德瑞伊(S.Ramadorai)在孟買接受採訪時說，我們的業務增長環境充滿了挑戰性，下一輪增長機會不會只建立在低成本勞動力的基礎上，而要以"創新和策略"為本。

對於創造了印度商業史上最大輝煌的印度信息技術產業來說，目前遭遇的這種困境還是件稀罕事。過去幾年中，為了滿足不斷飆升的市場需求，印度科技企業雇傭的員工超過了30萬。西方大企業為削減成本紛紛將後勤服務崗位遷往海外，這給印度的外包企業創造了大量商機。

在印度科技企業的增長前景開始轉黯之際，該國經濟的總體增長速度也已放慢。經濟學家們估計，印度本財年國內生產總值(GDP)的增速將減緩至7%到7.5%，而此前5年該國GDP的年均增長速度接近9%。印度的經濟增長高度依賴服務業，科技產業雖然在印度經濟中所佔比例不高，但過去幾年卻是該國增長最快的行業。在截至3月31日的財年中，科技產業在印度GDP中所佔比例為4.5%，高於2004年時2.5%的水平。與之形成鮮明對比的是，作為印度主要產業的農業在此期間佔GDP的比例卻從20%下降至17%。

印度科技產業的繁榮對南部城市班加羅爾和海德拉巴的改變尤其顯著。那裡的市中心已聳立起一批由歐美建築師設計的玻璃幕牆大廈，周邊則環繞著棕櫚夾道、草坪齊整的科技園區。這些昔日以農業為主的欠發達地區正在成為科技產業全球化潮流的主要推動力量。

當然，作為一種全球現象，科技外包相對而言仍屬新生事物，印度的外包業巨頭依然在大量獲得新訂單方面居於有利地位。行業數據顯示，去年全球1.7萬億美元科技支出中約有11%流向了科技外包企業。那些將科技工作外包出去的企業同時也將薪資核算及呼叫中心等後勤服務工作外包給其他企業去做，雖然這類業務的外包勢頭同樣出現了減弱趨勢。Wipro
Technologies的首席策略長K﹒R﹒拉克什米納拉亞南(K.R.
Lakshminarayana)說，沒有被外包出去的工作還多得很，從事服務外包的企業都有足夠的施展空間。

不過從兩年前開始印度服務外包企業的發展障礙就已日漸顯現。這些企業以印度盧比計算成本，而盧比從那時起開始兌美元不斷升值。由於印度這些企業的銷售收入大多是美元，所以印度盧比升值會使他們兌換成盧比的收入相對降低。在2006年6月至今年早些時候這段時間，印度盧比兌美元升值了16.4%，由47盧比兌1美元升至39.3兌折合1美元，不過自那以來這一升幅已回落了近一半。

私人資本運營公司和風險投資家對印度中、小型科技公司的投資也開始枯竭，因為投資者對印度盧比升值和美國經濟增速放緩感到擔憂。據金奈的研究公司Venture
Intelligence稱，2008年上半年的這類投資較去年同期下降了63%，只有1.51億美元。

印度外包產業饕餮式雇傭行為使就業市場上熟練白領員工的供應大為吃緊，這推高了工資水平，提高了員工跳槽率，因為人們有很多掙更高工資的機會。Infosys目前的員工流失率為13.7%，高於2006年時11.2%的水平。

為了確保能招募到足夠的新人，印度的科技業巨頭們正向職業培訓和印度各大學的教育培訓項目投入更多資金，從而增加了企業成本。Infosys向近500所大專院校派去了培訓人員，教給那些學校工學院的講師們如何在班上引導學生相互討論和建立協作，減少對死記硬背的依賴。塔塔咨詢服務今年正在其位於金奈的一個培訓中心內訓練1,500名大學理科畢業生，向他們傳授電腦編程知識和溝通技巧。

印度外包業迄今遭受的最大打擊發生在去年夏天，當時由於美國次級按揭貸款業遭受重創，隨後又發生了信貸危機，全球許多銀行和金融機構凍結了新外包業務的發放，而印度外包業近一半的收入來自這些公司。

今年早些時，塔塔咨詢服務稱它在華爾街的兩家銀行客戶凍結了其科技支出，並表示在從信貸危機中緩過勁來之前不會解凍。這家印度公司目前表示，它預計面向銀行領域的銷售業務未來幾個季度將出現改善。不過其他銀行正在要求外包企業降低要價。

印度的工資上漲、貨幣升值以及居高不下的員工流失率也開始促使技術外包工作向一些東歐國家和菲律賓轉移，後者尚不存在印度的這些問題。舉例來說，西門子公司(Siemens
AG)就把公司自辦的客戶服務中心遷離了印度。過去兩年中，西門子已招募了1,500名員工以充實其設在馬尼拉的一個客戶服務中心。西門子說馬尼拉人說的英語更接近美國口音。該公司表示，其菲律賓員工的月跳槽率為2.5%，而它在印度呼叫中心的員工流失率高達20%。

西門子北美辦事處IT策略部門的負責人威廉﹒邁克納馬拉(William
McNamara)說，印度仍然是一個有可能獲得成本優勢的地方，不過這方面的優勢已經不如從前了。

所有這些不利因素都增加了印度科技公司尋找其他收入來源的壓力。這些企業正越來越多地自行開發產品，然後努力將其兜售給客戶，降低對被動式科技服務的依賴，後者是按客戶的要求"照方抓藥"。

Niraj Sheth

相關閱讀
印度外包企業大打家庭牌 2008-06-09
谷歌在印度遭遇誹謗訴訟 2008-08-15
昔日輝煌難掩今朝落寞 2008-08-14
印度，一個還是兩個？ 2008-08-11

本文涉及股票或公司

Wipro Ltd. (ads)
總部地點﹕印度(India)
上市地點﹕紐約證交所
股票代碼﹕WIT

西門子公司
英文名稱﹕Siemens AG (ADS)
總部地點﹕德國
上市地點﹕紐約證交所
股票代碼﹕SI

Tata Consultancy Services Ltd.
總部地點﹕印度(India)
上市地點﹕孟買
股票代碼﹕TCS

Wipro Ltd.
總部地點﹕印度(India)
上市地點﹕孟買
股票代碼﹕WIPR

西門子公司
英文名稱﹕Siemens AG
總部地點﹕德國
上市地點﹕德國證券電子交易平臺
股票代碼﹕SIEGn

Markets Tuesday, 08/26/2008

Tuesday, 8/26/2008

| Dow : 11412.87 up 26.62

| S & P : 1271.51 up 4.67

| NASDAQ: 2361.97 down 3.62

| Bond (10Y): 3.77%, 101.84

MARKETS:
Stocks mixed as oil ticks higher
Wall Street gyrates along with crude prices; low market volume, mixed
housing and economic reports keep stocks within a narrow range.

U.S. stocks end mostly up as energy shares climb

Date: Tue, 26 Aug 2008 17:04:37 -0400
U.S. stocks end mostly up as energy shares climb

U.S. stocks wobble higher in light volume, as energy shares front
limited gains and after mixed data on the housing front and a
better-than-forecast rise in consumer confidence.

Bank earnings fall to $5 bln in second quarter: FDIC

In the three months from April to June, banks' earnings were their
second lowest since 1991, according to the Federal Deposit Insurance
Corporation. .

FAA says technical problem snarls U.S. air traffic

SAN FRANCISCO
Problems with a computer system used to process flight plans were
causing delays at airports across the United States Tuesday, according
to Federal Aviation Administration officials.

The Fed: Outlook dimmed for growth ahead, Fed minutes show

Growth looked weaker to Federal Reserve officials on Aug. 5 than it had
in many months, according to a summary of the closed-door meeting.

Democrats prepare for Hillary Clinton's speech on Day 2

Sen. Hillary Clinton prepares to take the stage during the second day of
the Democratic National Convention as the party works to repair internal
rifts and present a united front behind Sen. Barack Obama against his
Republican opponents.

Dow industrials, S&P post gains, while Nasdaq slips; hurricane drives oil rally

Date: Tue, 26 Aug 2008 16:07:35 -0400

Dow industrials, S&P post gains, while Nasdaq slips; hurricane drives
oil rally
8/26/2008 4:04:03 PM

Breaking News Tue., August 26, 2008

Date: Tue, 26 Aug 2008 13:19:25 -0700

FAA SAYS COMMUNICATION FAILURE IS CAUSING MAJOR FLIGHT DELAYS AROUND THE
COUNTRY

Fed says most members at last meeting concerned about inflation and credit crisis, but see rate hike as likely next move.

Date: Tue, 26 Aug 2008 14:08:04 -0400

Fed says most members at last meeting concerned about inflation and
credit crisis, but see rate hike as likely next move.

Midday Report: U.S. stocks post modest gains following economic data

Date: Tue, 26 Aug 2008 12:03:29 -0400

U.S. stocks post modest gains following economic data

NEW YORK
U.S. stocks on Tuesday shifted modestly higher in light volume after
data pointed to a better-than-forecast rise in consumer confidence and
ongoing weakness in the troubled housing market.

Futures Movers: Oil futures jump 2% on hurricane, Russia worries

Crude-oil futures soar 2%, boosted by concerns that Hurricane Gustav
might disrupt oil supplies in the Gulf of Mexico and heightened
geopolitical tensions after Russia formally recognizes the independence
of two breakaway Georgian regions.

Economic Report: Home prices fall at record 15.9% year-over-year pace in
June

U.S. home prices fall at a record 15.9% year-over-year rate in June,
stepping up the pressure on an already-fragile financial system as the
housing market shows precious few glimmers of light.

Currencies: Dollar up vs. most rivals but capped by housing data, rising
oil

The dollar is higher against most major rivals but is off its session
peaks after downbeat U.S. home-price data and a rebound in crude-oil
prices.

Obama hasn't sold voters yet on economic issues

Voters say the economy is their biggest worry this election year, and
they want answers from Democrats and Republicans about what they'd do to
restore the American Dream.

U.S Consumer confidence rises, though job worries persist.

U.S Consumer confidence rises, though job worries persist.

U.S. consumer confidence rises, though job worries persist

Date: Tue, 26 Aug 2008 10:08:45 -0400

U.S. consumer confidence rises, though job worries persist
8/26/2008 10:05:30 AM

Home prices plummet a record 15.4% in the second quarter over last year, according to S&P/Case-Shiller.

Date: Tue, 26 Aug 2008 09:02:09 -0400

Home prices plummet a record 15.4% in the second quarter over last year,
according to S&P/Case-Shiller.

Key measure of consumer confidence shows surprise jump in August. New home sales in July show continued weakness.

Date: Tue, 26 Aug 2008 10:05:07 -0400

Key measure of consumer confidence shows surprise jump in August. New
home sales in July show continued weakness.

Oil prices whipsaw in a $5 range, rising more than $2.40/barrel to above $117 after earlier shedding nearly $3.

Date: Tue, 26 Aug 2008 09:47:07 -0400

Oil prices whipsaw in a $5 range, rising more than $2.40/barrel to above
$117 after earlier shedding nearly $3.

Stocks open mixed as investors await key reports on consumer confidence and new home sales.

Date: Tue, 26 Aug 2008 09:31:03 -0400

Stocks open mixed as investors await key reports on consumer confidence
and new home sales.

Markets Monday, 08/25/2008

Monday, 8/25/2008

| Dow : 11386.25 down 241.81

| S & P : 1266.84 down 25.36

| NASDAQ: 2365.59 down 49.12

| Bond (10Y): 3.78%, 101.75

MARKETS:
Stocks slump on bank woes
Wall Street retreats, with the Dow losing 242 points, on credit market
problems and higher oil prices. Investors discount better-than-expected
existing home sales report.

U.S. stocks end sharply lower in thin trading volume

Date: Mon, 25 Aug 2008 17:04:16 -0400
U.S. stocks end sharply lower in thin trading volume

U.S. stock indexes lose 2%, with the Dow Jones Industrial Average hit
with its biggest point decline in more than a month, as concerns about
the financial sector weigh on sentiment and housing data fail to appease
investors' unease.

Oil ends higher as Atlantic storm revives supply questions

Oil ends closes higher after the formation of a new tropical storm in
the Atlantic raises the possibility of supply disruptions in the Gulf of
Mexico.

Economic Report: U.S. existing-home sales rise but unsold inventory hits
record

Resales of U.S. single-family homes and condominiums increase in July,
but inventories also rise, reaching record levels, National Association
of Realtors data show.

Financial Stocks: Freddie Mac shares rise on solid demand for debt
auction

Shares of mortgage giants Fannie Mae and Freddie Mac were mixed in early
trading Monday as speculation continues to swirl that a government
bailout is inevitable with no housing recovery in sight.

One nation, changing quickly

Sen. Barack Obama has vowed to bring change to Washington. If he's
elected president, he'll have plenty of changes on the demographics
front to deal with himself.

Dow industrials close down 241 in low-trade-volume session; Nasdaq, S&P lose 2%

Date: Mon, 25 Aug 2008 16:10:27 -0400

Dow industrials close down 241 in low-trade-volume session; Nasdaq, S&P
lose 2%
8/25/2008 4:06:31 PM

Dow drops more than 200 points as credit woes and high oil prices drag on Wall Street.

Date: Mon, 25 Aug 2008 12:09:04 -0400

Dow drops more than 200 points as credit woes and high oil prices drag
on Wall Street.

U.S. stocks slammed as financials undercut sentiment

Date: Mon, 25 Aug 2008 12:03:16 -0400
U.S. stocks slammed as financials undercut sentiment

U.S. stocks drop sharply as oil remains above $114 a barrel and as
concerns about the financial sector continue to weigh on investor
sentiment.

Economic Report: U.S. existing-home sales rise but unsold inventory hits
record

Resales of U.S. single-family homes and condominiums increase in July,
but inventories also rise, reaching record levels, National Association
of Realtors data show.

One nation, changing quickly

Sen. Barack Obama has vowed to bring change to Washington. If he's
elected president, he'll have plenty of changes on the demographics
front to deal with himself

Dow industrials fall 100 points as crude tops $115 a barrel

Date: Mon, 25 Aug 2008 10:03:34 -0400

Dow industrials fall 100 points as crude tops $115 a barrel
8/25/2008 10:00:26 AM