| £20m splashed out in cricket auction
Strange, too, that a cricketer who only a month ago was a hate figure in India after alleging that he had been racially abused should be offered more than £100,000 a week to play in Hyderabad. Full story...
Source: Timesonline.co.uk .
Commentary: Other agencies use DoT accounting services
The Transportation Department four years ago completed the conversion of all of its component agencies to a single state-of-the-art financial system using commercial off-the-shelf software. We now provide proven financial system and expert accounting services to other agencies as a federal shared service provider, as designated by the Office of Management and Budget. .
United's future: What would a merged airline look like?
United, the nation's second-largest carrier, is in merger discussions with Delta, sources say, as is Northwest Airlines. Analysts expect Continental Airlines and United to link up if Delta opts to combine with Northwest. A deal by Northwest would free Continental of a "golden share" that gives Northwest significant say in any deals pursued by Houston-based Continental.
Continental CEO Larry Kellner told investors Thursday that he would move quickly if deals start to roll. "If we see something, we won't hesitate to act aggressively," he said.
"I'm sure everyone is talking to everyone," said one airline executive, who spoke on the condition that he not be identified.
United executives have long felt confident that they would be in prime position if massive consolidation were to take hold, given their global network, their massive hub at O'Hare International Airport and the fact that merging with either Continental or Delta would create a global power, sources say.
'Fast Money' Recap: Stocks Gyrate Wildly
Wall Street experienced some wild swings on Wednesday, with the Dow Jones Industrial Average swinging 600 points. The Dow finished the day up 298 points and the Nasdaq closed up 24 points. Pete Najarian said the rally Wednesday was due to the prospect of a government bailout of the bond insurers and rumors of a rate cut out of the European Central Bank. He says the markets will remain volatile for the next couple of weeks. According to Jeff Macke, now is the right time to buy the financials and retailers for a trade. Guy Adami agreed with Macke on the financials, and he explained that investors can't fight the Fed. Karen Finerman said she had a fun day Wednesday. She disclosed she bought AltriaMO and FlowserveFLS in the morning after both stocks were knocked down hard. GoogleGOOG and AppleAAPL plunged as the Nasdaq traded higher Wednesday.
Stock market drops $147bn in 18 days
A bad attack of nerves about a possible US recession and its effects on demand for Australian commodities has wiped off $147billion in value in just 18days. In the wake of a 300-point drubbing on Wall Street, the local market opened sharply lower, with the All Ordinaries Index sagging 176 points, or 2 per cent, in the first half hour. By the close, however, the late BHP-Rio rumour had closed the gap by two thirds to 57.6 points. The S&P/ASX200 index closed down 48.8 points at 5747.3. Solid speculation that BHP would up its bid by 32 per cent as soon as today drove a strong turnaround in investor sentiment. BHP Billiton is pushing the mega-merger with an unofficial offer of a three-for-one share deal that could create a combined entity worth $400 billion.
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