Archive for the 'Economy' Category

Failed Hedge Fund Amaranth Sued for Price Manipulation

Wednesday, July 25th, 2007

The said on Wednesday that it charged failed hedge fund and its former head trader, Brian Hunter, with trying to manipulate natural gas futures prices.
The CFTC also alleged that Amaranth tried to cover up its wrongdoing by making false statements to the .
Amaranth racked up $6.4 billion in losses from bad […]

Britain ‘inadvertently aided’ US rendition

Wednesday, July 25th, 2007

A parliamentary committee has found no evidence that the UK was directly involved in controversial American renditions of terror suspects.
But the intelligence and security committee said the security services “inadvertently” helped in one case after the US ignored caveats placed on supplied information.
And it said Washington’s “lack of regard” for UK concerns had “serious implications […]

$32bn wiped from sharemarket

Wednesday, July 25th, 2007

THE Australian sharemarket continues to fall, with $32 billion wiped from its value in a single day’s trade as the end of the financial year looms.
In the biggest one-day fall in more than three months, the S&P/ASX 200 Index dropped nearly 2 per cent, or 124.4 points, to 6184.2, topping off a five-day negative […]

How Ferguson broke Chelsea

Wednesday, July 25th, 2007

There may well be victory for Manchester United in the FA Cup final this afternoon, but even the desolation of defeat by Chelsea would be short-lived. They know already that everything has been transformed. Sir Alex Ferguson can walk away from Wembley in the comforting knowledge that all the questions that had previously weighed on […]

SKECHERS TRIPPED UP BY POOR PROFITS

Wednesday, July 25th, 2007

July 25, 2007 — Red-hot sneaker maker Skechers stumbled yesterday when it reported sharply lower second-quarter earnings and reduced its profit forecast for the third quarter.
The Manhattan Beach, Calif.-based company blamed higher costs related to the launch of its Cali Gear brand, along with increased distribution and marketing expenses.
Skechers said its second-quarter revenue […]