| AP Executive Morning Briefing
WASHINGTON (AP) - The painful collapse of the housing market along with the credit crunch will weigh down economic growth in the final three months of this year and cause economic activity to lag in 2008. It all means that the risk of a recession has increased, economic forecasters say. --- OPEC Comment Drives Oil Close to $95 Oil prices rose Monday with more talk among OPEC members about converting their cash reserves to the euro and away from the U.S. dollar. There is also doubt a possible OPEC output hike next month would get more supplies to market in time for the northern winter. --- Wall Street Heads Toward Lower Open NEW YORK (AP) - U.S. stocks were poised to open lower Monday as Wall Street, still worried about the drag of the housing and credit markets on the economy, anticipated bleak news from retailers and the National Association of Homebuilders.
Subprime Crisis Hit Investment Banks Hard in Third Quarter, but Business Models Remain Sound, Says BCG
Leading investment banks felt the effects of the subprime crisis in the third quarter and should take steps to strengthen their risk management strategies and practices, according to The Boston Consulting Group's latest quarterly Investment Banking and Capital Markets report. .
Praises to an educational gem
High School. I have two children currently attending InTech and I have been thoroughly impressed with this school. All of the teachers at InTech are worth bragging about, but here a just a few examples of the phenomenal teachers there.Mr. Dewy, my daughter's AP History teacher, regularly provides timely and detailed responses to her essays. Not just a check or a grade, but in-depth, considerate responses in which he provides encouragement, offers suggestions for improvement, and engages in a real conversation. .
UK small caps open higher, with Matra Petroleum higher on Russia oil find
LONDON (Thomson Financial) - UK small caps were higher in early deals, mirroring strength in the wider market, with Matra Petroleum gushing in the wake of an oil find in Russia. The FTSE Small Cap index was 3.3 points ahead at 3,776.5 by 9.19 am, while the FTSE 100 was 38.0 ahead at 6,499.4. Solid progress was seen in Matra Petroleum, 2 pence higher at 11-1/4, after the company revealed it has made an oil discovery at Arkhangelovskoe-12 -- the company's first exploration well in Russia, adding to its two discoveries in Hungary, announced earlier this year. The well reached a total depth of 3,890 metres and has now been logged. Also on the upside, Imprint shot up 10 to 112 following news that Hydrogen Group is in ongoing talks regarding a possible all-share offer for its recruitment rival worth 125.6 pence per share.
Credit score matters, but don't obsess over it
I always cancel credit cards I've stopped using, even if closing the accounts hurts my credit score by raising my debt-to-credit ratio. Why keep unneeded accounts open and risk identity theft? I don't follow the advice to split charges evenly among cards. The idea is to use only a small part of each card's credit limit to boost our credit score. But because the only two cards I use offer rebates, I'd rather pick the one that gives the most cash back for each purchase (one does at grocery stores, for example, and the other at gas stations). Naturally, I always pay my card bills in full. Your e-mails show that many of you carry a balance because you think doing so improves your credit score. It doesn't. Even if it did, I'd rather save on the interest charges. My credit score? The last time I checked two years ago, it was over 800 (760 or higher generally qualifies for the best credit terms).
State Street: Investor Confidence Index falls in November
State Street Global Markets, the investment research and trading arm of State Street Corp. (NYSE: STT), said the Global Investor Confidence Index fell by nearly eight points in November, according to a report released on Tuesday. Boston-based State Street Global Markets said that Global Investor Confidence fell by 7.7 points to 74.3 from last month's revised reading of 82. North American investors were the key drivers in this decline, as their confidence fell from 90.4 to its second lowest reading ever of 78.9. Developed through State Street Global Markets' research partnership, State Street Associates, by Harvard University professor Ken Froot and State Street Associates Director Paul O'Connell, the State Street Investor Confidence Index measures investor confidence on a quantitative basis by analyzing the actual buying and selling patterns of institutional investors.
HOW THEY VOTED
Head Start reauthorization, conference report On Wednesday accepted 381-36 the joint conference report on H.R. 1429 that reauthorizes the Head Start program for five years. The bill authorizes up to $7.4 billion in spending for fiscal 2008, $7.7 billion for fiscal 2009, and $8 billion for fiscal 2010, subject to congressional action on appropriations bills. The legislation limits the compensation paid to local administrators; expands the Early Head Start program and services to Native Americans; expands the migrant and seasonal program; allows flexibility in determining need in areas where the cost of living is high; creates new standards of accountability and testing; requires an associate's degree for teaching assistants, teachers and other related personnel by 2012; and requires a bachelor's degree for half of the Head Start teachers by 2013.
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