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Stocks slumped Friday, in a broad-based selloff that was especially hard on the leaders of the most recent leg of the rally - banks, energy shares and transportation companies.
Windows 7 is all its hapless precedessor should have beenNOT since the launch of Windows 95 more than a decade ago has your correspondent seen such a fuss over a new piece of software. In some cities, people lined up all night outside computer stores for Windows 7, the latest version of Microsoft’s operating system, which went on sale to the public on October 22nd. Orders taken before that date for Windows 7 by Amazon were the biggest in the online retailer’s history, grossing more than even the latest Harry Potter book. Customers will not be disappointed. Windows 7 is all its unla
mented predecessor, Windows Vista, should have been. It does not hog resources anything like as much as Vista did, making it a far sprightlier performer. It will even run on diminutive netbooks that currently have to use leaner Linux or Windows XP operating systems because of Vista’s girth and weight. ...
U.S. stocks were poised for a mildly positive open Friday, as investors took an upbeat view on the latest barrage of corporate results and awaited Microsoft's financial report, due out before the opening bell.
Blue chips led a bigger stock market rally Thursday, as better-than-expected results from four components pushed the Dow industrials above 10,000 again and reassured investors about the ongoing corporate reporting period.
It is high time to abolish the concept of ethnic minoritiesSHOULD the Polish ethnic minority in Germany have the same rights as the German ethnic minority in Poland? It sounds fair: Germans in Poland get schooling in the mother-tongue, street signs in both languages and guaranteed representation in parliament. Poles in Germany get almost nothing. But why only the Poles? What about the Czechs and Hungarians? Or the Turks? For that matter, what about the British in Poland? They have their cultural festivals (Last Night of the Proms in Cracow is already a major annual event). And why are we talki
ng only about in Poland? The British minority in Slovakia may not be quite as big as the Hungarian one, but it has its quirks too—such as playing cricket. Getting silly about all of this is easy; finding a sensible rule is more difficult. Size clearly matters, but how small is too small? Surely the smaller minorities are the ones that most need protection. And the biggest ones (Mingrelians in Georgia, for example) are hardly minorities at all. ...
U.S. stock futures slipped Thursday, as worries about corporate earnings weighed on investors.
Stocks tumbled Wednesday afternoon, as investors got cold feet after pushing the Dow, Nasdaq and S&P 500 to one-year highs on the back of better-than-expected bank results and a rally in commodities.
Why Wall Street needs a new social contractEVER since Rolling Stone magazine described Goldman Sachs in July as a “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” the investment bank has emerged as the favourite pinata for anyone who wants to give Wall Street a mighty thwack. Lloyd Blankfein, the investment bank’s chief executive, may be right, as he recently told The Economist, that vampire squids, which really do exist in the depths of the ocean, are “small and harmless”. Yet
his firm and the industry of which it is now the reluctant face have a real image problem, which they need to deal with before it turns into something nastier.Among the wilder allegations the industry is facing is Michael Moore’s claim in his new film, “Capitalism: A Love Story”, that a deliberate Wall Street conspiracy resulted in a $700 billion raid by the banks on the Treasury (otherwise known as the Troubled Asset Relief Programme). Mr Moore’s film includes a stunt in which he attempts a citizen’s arrest of Mr Blankfein over this “crime”. ...
The signs are there: Crude prices are almost $80 a barrel. Emerging market economies are rebounding. China has resumed its fast-paced growth.
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