Monday, June 4, 2007

Police: N. Korean family faced sea in small boat


Police: N. Korean family faced sea in small boat


POSTED: 0553 GMT (1353 HKT), June 3, 2007
var clickExpire = "06/17/2007";
Adjust font size:
GOSHOGAWARA, Japan (Reuters) -- Japan is likely to offer temporary protection to four people believed to have fled North Korea who are seeking asylum in the South after they arrived by boat at a Japanese port, Japanese officials said on Sunday.
The three men and a woman, who were taken into Japanese custody on Saturday, claimed to be a family, a police official said. They told authorities they had been out at sea in the small wooden boat since May 27 after leaving North Korea for the South.
They told Japanese officials they had left Chongjin on the east coast and headed south, but then changed course due to heavy security and ended up at Fukaura in Japan's Aomori prefecture, 800 kilometers (500 miles) to the east, the police official added.
"They are seeking protection and this is not a criminal case, but rather a humanitarian issue," said the official.
"We are discussing with immigration and Foreign Ministry officials towards granting them protection."
A government official in Tokyo also said Japanese authorities were holding talks over how to best serve the four's interest.
Asked about the latest case, South Korean Foreign Minister Song Min-soon said the wishes of the four should be upheld.
"I understand they will be treated according to humanitarian principles and according to their wishes," he told reporters in South Korea.
Japan can grant asylum-seekers a six-month stay permit under its immigration law, and a 2006 "North Korean human rights" law also states that the government must take measures to protect and support defectors from North Korea.
In the past North Korean defectors have fled to Japanese missions and other premises in China, and Tokyo allowed them to leave for third countries.
It is rare for North Koreans to flee to Japan, and it could worsen relations between Tokyo and Pyongyang -- which have no diplomatic ties -- if North Korea demands their return.
In 1987, Pyongyang asked Tokyo to return the crew of a North Korean boat who had sought asylum in South Korea after docking at a port in western Japan, but Tokyo allowed them to leave for the South via Taiwan.
Japan is also feuding with North Korea over the fate of Japanese citizens kidnapped decades ago by Pyongyang's agents to help train spies.
Prime Minister Shinzo Abe has said that until the abduction issue has been resolved, Japan will not provide funds for a multilateral deal clinched in February, by which Pyongyang agreed to scrap its nuclear arms program in return for energy aid.
Copyright 2007 Reuters. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.

China stocks plunge after tax hike


China stocks plunge after tax hike


POSTED: 0317 GMT (1117 HKT), June 4, 2007
var clickExpire = "06/18/2007";
Adjust font size:
Shanghai, China (Reuters) -- China's main stock index plunged at the opening on Tuesday and then swung widely as investors continued to dump stocks after last week's hike in the share trading tax.
The Shanghai Composite Index opened down 2.89 percent, briefly rebounded into positive territory and then resumed sliding. After 15 minutes of trade it stood 2.02 percent lower at 3,596.324 points, a level not seen since April 20.
The index has now tumbled 17 percent since the tax hike, which was designed to cool rampant speculation by individual investors.
China's securities regulator has approved four new mutual funds that will invest in the stock market, sources close to the regulator told Reuters late on Monday. The approvals were widely seen as an effort by authorities to restore investor confidence.
But large-cap blue chips remained soft early on Tuesday, suggesting that not only individual speculators but also some institutional investors were selling to cut losses.
Heavyweight oil refiner Sinopec was down 0.73 percent at 13.55 yuan, after earlier plunging 4.2 percent.
Copyright 2007 Reuters. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.

US Auto CEOs To Meet With Senate Majority Leader Wed


US Auto CEOs To Meet With Senate Majority Leader Wed
June 04, 2007: 07:06 PM EST
WASHINGTON -(Dow Jones)- Senate Majority Leader Harry Reid, D-Nev., will play host Wednesday to the heads of the Big Three automakers, General Motors (GM), Ford Motor Co. (F) and DaimlerChrysler Group (DCX), to discuss the future of the U.S. auto industry, his office said Monday.
The meeting comes as the Senate is preparing to discuss next week comprehensive energy legislation that includes a measure to reform fuel efficiency standards that automakers fear may cause further economic trouble for an already distressed industry.
Reid will host the meeting with two Michigan Democrat colleagues who opposed fuel efficiency legislation that passed out of the commerce committee in early May. Sen. Debbie Stabenow, D-Mich., chair of the Democratic Steering and Outreach Committee, and Sen. Carl Levin, D-Mich., and Reid will also meet with United Auto Workers President Ron Gettelfinger.
In the face of political momentum rolling toward fuel efficiency reform in both the Senate and House, automakers are lobbying to soften the commerce committee bill that would increase fuel efficiency of the nation's combined fleets of passenger cars and light trucks to 35 miles a gallon from 2009 to 2019. They fear that not only would retooling plants and redesigning entire fleets be too costly, but the standards would put them at a disadvantage to foreign competitors such as Toyota (7203.TO) because of their fleet compositions.
Levin and Stabenow have said the new rules should not penalize U.S. manufacturers, and improvements could rather be achieved through encouraging advanced technologies such as plug-in hybrids and improved battery technology.
The floor debate is likely to be tough as senators on both sides of the issue - those for more stringent reform and those against reform altogether - have promised to modify the bill.
Reid spokesman Jim Manley said that in introducing the legislation, the Senate majority leader expressed his support for higher fuel efficiency standards.
-By Ian Talley, Dow Jones Newswires; (202) 862 9285; ian.talley@dowjones.com; (END) Dow Jones Newswires
06-04-07 1906ET
Copyright (c) 2007 Dow Jones & Company, Inc.

Friday, June 1, 2007

Economy hits the sweet spot

Economy hits the sweet spot
Solid gains in jobs, manufacturing, consumer spending offset weakness in housing; Fed seen on hold.
By Chris Isidore, CNNMoney.com senior writer
June 1 2007: 12:06 PM EDT
NEW YORK (CNNMoney.com) -- A rush of reports Friday showed the economy growing at what is widely seen by economists and investors as just the right pace.
The reports showed solid growth in the job market and surprising improvement in manufacturing. And despite some weak recent reports from retailers, consumer spending continued to grow, keeping that key driver of the economy in gear. Consumer spending fuels nearly three-quarters of the economy.

Video
More video
Many small business employees say they are just fine with their jobs even if they make less money. CNN's Jennifer Westhoven reports. (May 7)
Play video
var agt=navigator.userAgent.toLowerCase();
var is_ie = ((agt.indexOf("msie") != -1) && (agt.indexOf("opera") == -1));
var is_mac = (agt.indexOf("mac")!=-1);
var is_nav4 = (((agt.indexOf('mozilla')!=-1) && (agt.indexOf('spoofer')==-1)
&& (agt.indexOf('compatible') == -1) && (agt.indexOf('opera')==-1)
&& (agt.indexOf('webtv')==-1) && (agt.indexOf('hotjava')==-1)) && parseInt(navigator.appVersion) '
+ '\n\t.keyword{font:12px arial, helvetica, sans-serif;';
if (is_ie && is_mac) {
stylesheet += 'width:180px;}';
}else{
stylesheet += 'width:192px;}';
}
stylesheet += '\n\t.city{font:12px arial, helvetica, sans-serif;';
if (is_ie && is_mac) {
stylesheet += 'width:180px;}';
}else{
stylesheet += 'width:192px;}';
}
stylesheet += '\n\t.state{font:12px arial, helvetica, sans-serif;';
if (is_ie && is_mac) {
stylesheet += 'width:180px;}';
}else{
stylesheet += 'width:192px;}';
}
stylesheet += '\n';
document.write(stylesheet);
}
.keyword{font:12px arial, helvetica, sans-serif;width:192px;}
.city{font:12px arial, helvetica, sans-serif;width:192px;}
.state{font:12px arial, helvetica, sans-serif;width:192px;}


Enter Keyword(s): HelpEnter a City: Select a State: – All United States – Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin WyomingSelect a Category: – All Job Categories – AccountingAdmin & ClericalAutomotiveBankingBiotechBroadcast - JournalismBusiness DevelopmentConstructionConsultantCustomer ServiceDesignDistribution - ShippingEducationEngineeringEntry Level - New GradExecutiveFacilitiesFinanceGeneral BusinessGeneral LaborGovernmentGroceryHealthcareHotel - HospitalityHuman ResourcesInformation TechnologyInstallation - Maint - RepairInsuranceInventoryLegalLegal AdminManagementManufacturingMarketingNurseOtherPharmaceuticalProfessional ServicesPurchasing - ProcurementQA - Quality ControlResearchRestaurant - Food ServiceRetailSalesScienceSkilled Labor - TradesStrategy - PlanningSupply ChainTelecommunicationsTrainingTransportationWarehouse
- Search by Company
But there was enough softness in consumer prices, home sales and income growth to calm any concerns about inflation. That should keep the Federal Reserve on hold on interest rates for some time to come.
Who's hiring: Companies with fast job growth
"If you're the Fed, the only danger right now is you might strain your arm patting yourself on the back," said David Wyss, chief economist for Standard & Poor's. "It's about as good as you can get."
The latest reports were a contrast to Thursday's government report showing the economy grew at the slowest pace in five years in the first quarter. Wyss said despite all the good news Friday, there are some clouds on the horizon, but they shouldn't cause any economic storms in the near term.
"We don't know what's going to happen with oil prices, and we're not through the housing mess yet," he said. "But it certainly suggests the second quarter will be a lot stronger than the first quarter."
Wall Street reacted positively, with stocks rising in midday trading, pushing the Dow industrials and the S&P 500 further into to record territory. Investors like steady but not explosive economic growth, which is good for corporate earnings but doesn't threaten a pickup in inflation.
The day's leading report was the Labor Department's job report, which showed employers added 157,000 jobs to payrolls in May, up from a revised 80,000 gain in April. Economists surveyed by Briefing.com had forecast 135,000 new jobs in May.
The hottest salaries
The unemployment rate stayed at 4.5 percent, in line with forecasts. While the number of those listed as unemployed crept up by 18,000, that was outpaced by the gain of those with jobs.
The report showed average hourly wages rose 6 cents, or 0.3 percent, to $17.30, also in line with forecasts. The average hourly wage is now up 3.9 percent from a year earlier, above the 2.6 percent gain in prices for the 12 months ending in April.
Most job growth was in the service sector. Education and health services payrolls grew by 54,000 while the leisure and hospitality industries added 46,000 workers. But retailers, who have seen some weak sales recently, trimmed 5,000 jobs during the month.
Manufacturing lost 19,000 jobs, while construction employment was unchanged, even in the face of the downturn in home building over the last year.
A separate government report showed personal income fell in April for the first time since August 2005. Economists had forecast a 0.3 percent rise. Spending by individuals was up by more than forecasts, though.
That report also showed that prices paid by consumers for goods other than food and energy rose less than expected, putting the so-called core PCE deflator up just 2.0 percent over the last year.
Why you still can't find a builder
The core PCE deflator is believed to be one of the Fed's favored inflation readings, and central bank policymakers are believed to want to see it between 1 and 2 percent. The Friday report marks the first time in just over a year that the reading was in the Fed's comfort zone.
Separately, a survey by the University of Michigan showed consumer confidence came in above forecasts at the end of May despite record high gasoline prices and declining home values.
And a survey of manufacturing executives showed business conditions in that sector improved modestly in May, rather than the slight decline economists had forecast.
There was more bad news for the housing sector, however, the one area of economic weakness frequently cited as a concern by the Fed.
The National Association of Realtors reported that its pending home sales index fell 3.2 percent, rather than the modest gain that had been forecast. The measure of sales that have been agreed on but not yet completed is seen as a more forward-looking reading on the state of the battered real estate market.
Construction employment bucks slumpEconomic growth slowest since '02Economy might not yet be in the clear

'American Idol' parent being sold for $1.3B

'American Idol' parent being sold for $1.3B
Executives of CKX, which licenses Elvis and owns 'American Idol' creator, are taking the firm private.
June 1 2007: 10:56 AM EDT
NEW YORK (CNNMoney.com) -- CKX Inc., the company behind the hit show "American Idol," said Friday it agreed to be acquired by a group led by its Chairman and Chief Executive Robert Sillerman for $1.3 billion.
The management group acquiring CKX, which owns rights to the Elvis Presley and Muhammad Ali names and the "American Idol" talent show, includes Idol creator Simon Fuller, the company said in a statement.
Video
More video
CNN's Richard Lui speaks with our resident American Idol experts about the big winner Jordin Sparks.
Play video
Shares of CKX (up $3.71 to $14.34, Charts) surged 42 percent in morning trading on Nasdaq.
Sillerman, a former radio and concert mogul, received a hand in the effort from Fuller, chief executive of CKX subsidiary 19 Entertainment Limited Inc., the British-based firm behind the "Pop Idol" television talent show and its hit U.S. spinoff, "American Idol."
Lewis vs. Sparks: The real competition begins
Sillerman, the company's biggest shareholder, offered to enter into a complex series of transactions that includes a cash purchase of CKX's outstanding common stock at a price of $13.75 a share, which represents a 29 percent premium over the stock's closing price of $10.63.
With 97.06 million shares outstanding, that amounts to about $1.33 billion.
According to a statement, the company's directors had been actively considering the proposal and scheduled a meeting early Friday morning to consider the bid and hear the recommendation of a special committee of independent directors.
CKX also operates Graceland, Presley's former home turned tourist attraction.
-- from staff and wire reports
Nielsen debuts TV commercials ratings Harry Potter theme park coming to Florida

CAR



Bonhams & Butterfields
Buyer's Fees: 17% on the first $100,000, plus 10% on the overage Seller's Fees: 10% to 25% Record Sale (2004): $7,480,322 for '29 Mercedes SSK Roadster (pictured) Pro: Capable of getting great venues and important cars Con: Car offerings still not as consistent as the others For Sale Dates: bonmans.com/us





RM Auctions
Buyer's Fees: 10% Seller's Fees: $1,000, plus 8% to 10% Record Sale (2007): $9,300,000 for '62 Ferrari Testa Rossa (pictured)* Pro: The biggest player - and extremely competent at getting and selling a lot of great cars Con: With such high volume, the experience can be less personal For Sale Dates: rmauctions.com






Gooding & Co.
Buyer's Fees: 10% of the hammer price Seller's Fees: $1,500, plus 10% of the hammer price Record Sale (2004): $4,455,000 for '35 Mormon Meteor (pictured) Pro: The insiders' favorite - knowledgeable, effective, and pleasant Con: A smaller staff can mean a slower call-return time For Sale Dates: goodingco.comCorrection: An earlier version of this gallery incorrectly identified the Marmon Meteor as the Mormon Meteor. CNNMoney regrets the error.

Thank you every body visiting Blogger for me !

Men

Denim
Men’s Levi’s Signature Regular Fit Jeans (Medium Stonewash)
$34.97 - $36.97
View Product