| Record Numbers of U.S. Students Are Studying Abroad
The number of Americans studying abroad -- which has risen 150 percent in the past decade -- continues to set records, rising 8.5 percent in 2005-2006, according to the Institute of International Education's (IIE) 2007 report on international education exchange. “The opportunity for more young Americans to study abroad is a goal shared by the president, the secretary of state, and leaders in Congress, industry and academia," IIE President Allan E. Goodman said in issuing the report, Open Doors 2007. A record number of U.S. students studied in other countries during the 2005-2006 academic year, according to Open Doors 2007. In 2005-2006, some 223,534 U.S. college students received credit for studying in other countries, an 8.5 percent increase from the 2004-2005 academic year, the report says.
Natixis may need to inject 1.5 bln eur in credit unit CIFG - report UPDATE
(Adds extra details, background; Natixis not available for comment) PARIS (Thomson Financial) - French investment bank Natixis may have to inject 1.5 bln eur to recapitalise its credit enhancement business CIFG following the subprime crisis, Les Echos reported citing unnamed sources. According to the newspaper, the accounting loss incurred by CIFG due to the credit crisis, as well as the adoption of International Financial Reporting Standards (IFRS), is thought to be around 200 mln eur. An audit is currently underway to evaluate the precise impact and examine different scenarios for the unit, Les Echos said. These options include a recapitalisation or not of CIFG, as well as the sale of the business. According to the newspaper, a recapitilisation would require controlling shareholders Banque Populaire and Caisse d'Epargne, which each own 34 pct of Natixis, to agree on how much of the costs to bear, while a decision not to recapitalise could lead to CIFG losing its 'AAA' credit rating.
Austin home sales slide 15 percent in October
Austin area single-family home sales continued to fall in October as the region reels from tightening credit markets. Sales fell to 1,772 homes in October, down 15 percent compared with last year, according to the most recent report from the Austin Board of Realtors. For the first 10 months of the year, sales declined 6 percent over the same period in 2006. At $180,000, the median price for single-family homes rose 3 percent increase over October 2006. Pending sales fell 19 percent from last October to 1,953, while active listings rose 19 percent from one year ago to 9,431. ABoR Chairman Charles Porter says the market's current performance remains healthy when one considers that the region saw record-breaking sales in 2005 and 2006. He says with continued job and population growth, ABoR remains confident in the market's long term performance.
POLICE BRIEFS
JACKSON : A car struck a utility pole on Hyson Road and overturned early Friday morning, police said.
The vehicle, driven by Thomas Pearcey Jr., 23, of the township, was traveling south on Hyson Road around 12:26 a.m. Friday when it went off the road at a curve, struck a mailbox, then a utility pole and then overturned, police said.
Pearcey was not seriously injured. He was given a summons for careless driving.
JCP&L crews had to cut service for about 20 minutes to the neighborhood to repair the pole.
Staff report
Burglar makes off with purse in car
MARLBORO: A burglar smashed the window of a parked car in the professional complex at 21 Kilmer Rd. on Thursday, making off with a purse containing $200 and some credit cards, the police said.
SKorean technology shares close lower for 2nd day as foreign investors exit
SEOUL (Thomson Financial) - South Korean technology shares closed lower on Tuesday, extending their decline for a second consecutive day as more foreign investors shunned the market in the face of risks from the still unfolding US credit crisis. Trading volumes were thin, but the tech stocks trimMED their losses toward the close, in line with the movement on the mainboard and other Asian bourses as retail investors saw a chance at bargain-hunting FOLLOWING a report that the Fed will publish upbeat economic forecasts for the US when it releases the minutes of its October meeting later Tuesday. The KOSDAQ index closed down 11.32 points or 1.5 percent at the day's best level of 739.47, after having fallen to as low as 723.61. Volume was 410 million shares worth 1.6 trillion won.
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BROKERWATCH Titan Cement cut to 'underperform' at Credit Suisse on outlook
ATHENS (Thomson Financial) - Broker Credit Suisse cut its rating on Greek Titan Cement to 'underperform' from 'neutral' and lowered its target price to 28 eur from 38 eur because they consider the stock is too expensive given its poor earnings outlook. At 12.55 pm Titan cement was dipping 2.3 pct to 30.98 eur, and the ASE general index was down 1.2 pct at 5,035.1. Credit Suisse said that Titan is trading an 6.8 times its 2008 enterprise value to EBITDA which is an 18 pct premium to its peers, and the broker underlined that this is excessive given that they expect the group to report a decline in earnings in 2008. Operationally the Greek market presents concerns due to increasing evidence of a slowdown in construction and this is compounded by its US business, which the broker expects will grow at rates below its south east European division.
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