Fans stunned by Rihanna-Chris Brown reconciliation
LOS ANGELES (Reuters) – Fans of singers Chris Brown and Rihanna expressed dismay on Saturday at reports the couple had reunited just three weeks after Brown was alleged to have assaulted her.
RPT-Canada open to automaker aid after deadline-report
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US Government to Own 1/3 of Citi
Shares drop on news; US dollar continues in strength on the currency market
The US government and Citi have agreed to a deal in which the government will increase its stake in Citi to 36%. Even as the government owns more than 1/3 of the embattled bank, almost 3/4 of existing shareholder stake will be eliminated.
On the news, Citi shares dropped rather dramatically — not much of a surprise. The US government also expects to make changes with the Board of Citi. This type of government interference is beginning to cause some concern.
Since this is seen as a sort-of quasi nationalization of Citi, it is clear that the situation in the U.S. continues to deteriorate in terms of economy. As a result, the US dollar is likely to remain strong in the near term, since this will prompt more forex traders in a flight to safety.
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- Forex Traders and the Currency Market
Learn about forex trading
US GDP Revised Lower
GDP decreased by 6.4% in Q4 of 2008
Just a day after president Barack Obama presented his 2010 budget, the revision in 4th quarter GDP data was made. However, the news is grim indeed, with the revised GDP decreasing by 6.4% — even more than thought.
The news is actually sending the US dollar higher in forex trading on the currency market. The greenback is gaining rather dramatically in currency trading as safe haven demand is renewed.
News the things are worse than previously thought for the U.S. economy is resulting in a flight to safety on the concern that the global economy will not be recovering anytime soon. As a result, there is a trend toward capital preservation in what is considered the world’s most stable currency.
See Also
- More on Capital Preservation
Trying to protect what one already has in this economy - Greenback in Currency Trading
Forex trading on the currency market
California declares drought emergency
SAN FRANCISCO (Reuters) – California Governor Arnold Schwarzenegger on Friday declared a state emergency due to drought and said he would consider mandatory water rationing in the face of nearly $3 billion in economic losses from below-normal rainfall this year.
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