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• Forex Gold Index: $424.30/barrel, $0.80

• 1 US Dollar (US$):

= STG£0.5349 = €0.7727 = ¥106.4000

• 1 Euro (€):

= STG£0.6923 = $1.2942 = ¥137.6900

• 1 Pound Sterling (STG£):

= US$1.8694 = €1.4443 = ¥198.8550

• 1 Japanese Yen (¥)

= STG£0.0050 = $0.0094 = €0.0073

(Commodities & currencies as of 2005-03-24 T 23:00 UTC, or last close were applicable. None of this data is guaranteed to be correct. Please read our General disclaimer and Risk disclaimer.)|}

• Market Data/Energy

Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Wednesday, October 21, 2009

Kapil Sibal, India’s Minister of Human Resource Development (HRD) held a meeting Monday to present his reform plans for the Indian Institutes of Technology (IIT) sector by increasing the entrance percentage to 80% and above in the class XII (final year) board exams. A three-member committee was set up to review the proposal.

Sibal said, “The present criteria is that students need to secure 60% in class XII for appearing in IIT-JEE. This is not acceptable”, pointing out that the current criteria where students getting more than 60% in the board exam of the twelfth class are eligible for IIT-JEE is not good enough and that it has to be raised to 80-85%.

He also stated that students undervalue final year board exams, preparing instead for the Indian Institute of Technology Joint Entrance Examination (IIT-JEE); they enrol in coaching institutes and concentrate on their study material in order to enter IIT. He wants to abolish these “teaching shops.”

The meeting decided that they would set up two committees, one headed by Anil Kakodkar, Atomic Energy Commission (Chairman) and other by T. Ramasamy, Department of Science and Technology (Secretary). The first committee is scheduled to decide final year board percentage and the second one is scheduled to set the curriculum.

The Kakodkar committee also plans to decide how to abolish coaching institutes and how to move IIT field forward with a greater emphasis on research. The committee is expected to submit its report in the next six months. The minister also clarified that some of these will be implemented from the 2010 academic year and some from 2011.

The meeting was also expected to reduce the fee for African and South Asian Association for Regional Cooperation (SAARC) countries as their fees are higher than those of Indians. The review committee says that people of other countries are tempted to study in India but they refrain due to high fees. The Ramasamy committee is expected to submit its report in the next three months.

Lastly, the meeting said that it will appoint board members and directors on the basis of nominations and independent rank and power to ensure IIT’s activity.

Monday, March 10, 2008

According to a report by The New York Times (The Times), New York Governor Eliot Spitzer informed his senior administration officials on Monday that he was being investigated for using a “high-class” prostitution ring. The Times report cites anonymous officials who work for Spitzer. A law enforcement official who spoke to Associated Press on condition of anonymity stated that a federal wiretap related to a recent investigation revealed that Spitzer paid for prostitutes from an online service under investigation.

ABC News reported that, according to federal officials, the federal investigation into the prostitution ring was initially motivated by money transfers which led agents to believe Governor Spitzer was hiding bribes. Sources familiar with the case spoke to The Washington Post and CNN, and said that Spitzer is identified as “Client 9” in court documents and on a federal wiretap.

In a brief press conference held Monday afternoon, Spitzer apologized to his family and to the public, but did not directly admit or deny involvement in the prostitution ring. “I apologize first and most importantly to my family. I apologize to the public, to whom I promised better. I must now dedicate some time to rededicate my trust to my family,” he said, adding that he “acted in a way that violates his obligation to his family.”

Spitzer did not answer questions from reporters, indicating he would have more to say “in short order.” He did not admit or deny any allegations.

The Times’ report alleges that Gov. Spitzer was a client of the Emperors Club VIP, a high-priced international prostitution ring. Last week, federal investigators arrested four people involved with the operation in and around New York. The investigation utilized undercover work and wiretap recordings at various club locations, including New York and Washington, with the latter allegedly containing Spitzer’s voice.

Reports indicate the governor learned on Friday, March 7, of federal investigators’ discovery of his alleged involvement in the prostitution ring. He informed his top aides on Sunday night before meeting with the rest of his staff Monday, according to The Times. Sources for the Fox News Channel and WCBS-TV in New York report Spitzer could resign and be indicted, in which case the Lieutenant Governor of New York, David Paterson, would become governor.

James Tedisco, the New York State Assembly Republican Minority Leader, says Spitzer should resign and state Republican leadership will initiate impeachment proceedings if the governor fails to step down. “Today’s news that Eliot Spitzer was likely involved with a prostitution ring and his refusal to deny it leads to one inescapable conclusion: he has disgraced his office and the entire state of New York. He should resign his office immediately,” stated Tedisco.

Wednesday, August 5, 2015

U.S. Republican Party presidential candidate Mark Everson, former commissioner of the Internal Revenue Service (IRS), filed a complaint on Monday with the Federal Election Commission (FEC) to challenge his exclusion from Thursday’s first Fox News Republican Party presidential debate. Everson argues his exclusion violates Title 11 of the U.S. Code of Federal Regulations in that debate hosts must not “structure the debates to promote or advance one candidate over another”, and must “use pre-established objective criteria to determine which candidates may participate in a debate.”

Everson served as Commissioner of the IRS from 2003 to 2007, during the George W. Bush administration. After his departure, he briefly served as CEO of the American Red Cross, worked in the cabinet of Indiana governor Mitch Daniels, and worked for the tax consulting firm alliantgroup. He announced his candidacy this past March with a sixteen-page open letter in which he outlined the six pillars of his campaign: amnesty for illegal immigrants, reinstatement of the military draft, a promise to serve only a single presidential term, and calls for tax reform, deficit reduction, and corporate responsibility.

Fox News claims Everson fails to meet the criteria it established for Thursday’s two debates. Only seventeen candidates meet the criteria, which require a candidate “consistently” be included in “recognized” opinion polls. The prime-time event features the top ten candidates by average polling percentage. The other seven participate in a separate debate just before the prime time event.

In his complaint, Everson urges the FEC to compel Fox News to include him in the second tier debate as the eighth participant.

Everson argues Fox News, in violation of Title 11, “structure[d] the debates to promote or advance one candidate over another” through a July 27 change to its criteria that replaced a pre-existing one percent polling threshold with a threshold admitting those “consistently” included in “recognized” polls. He alleges this was done to ensure the inclusion of the low-polling candidates former Hewlett-Packard CEO Carly Fiorina, former New York governor George Pataki, Senator Lindsey Graham, and former Virginia governor Jim Gilmore, because Fox News recognizes these candidates as “major players.”

Furthermore, Everson argues the Fox News criteria are not “objective,” as Title 11 requires, because they fail to define the terms “consistently” and “recognized” when referring to polls. He asserts he was included in the Republican Party’s online straw poll in May and is the only candidate still listed on that poll who has been excluded from Thursday’s debate.

Election law expert Richard Winger, publisher of Ballot Access News, says Everson is “completely correct” in his challenge. However, he believes Everson only has a chance of success if he actually files a lawsuit rather than simply complaining to the FEC.

Wednesday, August 29, 2007

An English lawyer has pleaded guilty to perverting the course of justice. He faked a legal judgment and sent it to a father who was pleading in Taunton family court to be able to remain involved in his child’s upbringing. The lawyer, London barrister Bruce Hyman, now awaits his sentence. The judge indicated that he could receive a prison sentence. Bruce Hyman is well-known in media circles, having produced The Hitchhiker’s Guide to the Galaxy on BBC Radio. He also produced a series with Clive Anderson, at Above the Title Productions, called Unreliable Evidence.

The father, a former City financier, had attended a series of court hearings in order to make suitable arrangements to see his child following an acrimonious divorce. Shortly before one of these hearings he received an email, ostensibly from a self-help group to which he belonged, which had attached a Court of Appeal case that appeared favourable to an application he had made for the judge to stand down from the case. The father, who was representing himself, duly showed the case to the judge. At this point, Bruce Hyman, the lawyer representing the former wife, claimed to the judge that the case was a forgery, which indeed it turned out to be.

After confirming that the self-help group had not sent him the email, the father then embarked on some detective work his own. The fraudulent email was traced via its header to a dial-up internet connection and a phone number belonging to a shop in London. The shop was able to recover CCTV footage which showed a man sending the email from an Apple laptop. The man turned out to be Bruce Hyman.

Sentencing of Hyman is due in Bristol Crown Court on the 19th of September.