| Rip-off web ticket touts face clampdown
The Observer newspaper said that the Culture, Media and Sport select committee will claim next month that web-based black market ticket agencies collaborate with rings of touts who obtain large numbers of seats then sell them online. It will accuse eBay and similar 'secondary ticket agents' such as Viagogo and Seatwave of making huge profits by exploiting fans' readiness to pay over the odds for sold-out events. Earlier this month, This is Money launched its Ticketing Rip-off campaign, with an exclusive interview with top promoter Harvey Goldsmith. In it, he slammed the sites, such Viagogo and Seatwave - which have been explicitly set up to facilitate the online trading of tickets to music, theatre and sporting events - as parasitically exploiting both consumers and artists.
Big miners drag stocks down
On the Sydney Futures Exchange, the December share price index contract was down 72 points to 6528, on a volume of 19,549 contracts. CMC Markets dealer Matt Wacher said lower base metal prices overnight are weighing on the local bourse. "Most of the sectors seem to be pretty flat. Energy and materials sectors are off," Mr Wacher said. "I guess the materials and energy sectors are off on the back of the commodity prices overnight. Oil prices and all the base metals took a bit of a beating and similarly with the gold price which was off quite substantially." Mr Wacher said positive retail sales data in the United States helped to buoy stocks on Wall Street."The US retail sales result was pretty strong so that's probably given a bit of impetus to the market as a whole over there. "It started much lower on the day and ended up around 40 points on the close...
Tight "Money"
There is a whole big issue...which has not fully played out in regard to providing credit and liquidity to institutions, so I think it is a dangerous period for the world. I think we are going to go through next year, certainly the first half of next year, with considerable traumas.'" November 28 - Financial Times (Michael Mackenzie and Saskia Scholtes): "Investor flight from anything bearing the taint of the US subprime mortgage crisis has pushed financial companies debt to its weakest versus US Treasuries in more than five years. Energy, utilities and telecommunications companies, conversely, have seen their lower-rated BBB bonds attract haven buying. This divergence is a stark indicator of one root cause of the current credit crunch: the unwinding of leverage on the part of investors.
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.
DGCX secures Singapore approval
Dubai: The Dubai Gold and Commodities Exchange (DGCX) yesterday announced that it had secured approval from the Monetary Authority of Singapore (MAS), making DGCX a Recognised Market Operator (RMO) in Asia's key trading hub. With the approval, DGCX - the Middle East's first commodities derivatives market - could now offer Singapore-based market participants direct access to its growing portfolio of commodity and currency contracts. Commenting on the approval, Ahmad Bin Sulayem, chairman of DGCX, said, "Not only will this approval create opportunities for market participants based in Singapore, but is a clear demonstration of our commitment to meet customer demand for wider marker access". .
Palestinian Aide Suggests Kosovo a Model
If this doesn't happen, we have another option," he said, noting Kosovo's declaration of independence from Serbia earlier this week. "Kosovo is not better than Palestine," he added. "If the whole world, the United States, the European Union, the majority of its states, have embraced the independence of Kosovo, why shouldn't this happen with Palestine as well?" Abed Rabbo said the Palestinian leadership is discussing the proposal. However, Abbas reacted coolly to the idea, saying in a statement that he remained committed to reaching a negotiated peace agreement this year. "If we are unable to do that ... we will return to our Arab (brothers) to take the appropriate decision," he said. The chief Palestinian negotiator, Ahmed Qureia, quickly quashed the idea of a unilateral decision and said such a proposal was never discussed by the Palestinian leadership.
WKU steps up its MBA
Western Kentucky University recently overhauled a master's degree program in an effort to address regional business trends and tap into growing enrollment for MBA programs nationwide.Enrollment for the three options for MBA seekers begins in March for WKU's new full-time MBA and professional MBA programs. The online MBA program will become WKU's part-time program, according to MBA coordinator Bob Hatfield."It will be another connection between local employers and the business school at WKU as employers identify up-and-coming leaders within their organizations," Hatfield said. "This will put us on the map in the state of Kentucky."The full-time MBA will allow students to complete their degree in one year by attending day and evening classes year-round. The professional MBA is open to mid-career professionals and managers who will graduate in two years by taking courses on alternate Saturdays year round.
Cisco Secure Wireless
One of the most difficult challenges facing the federal government in general, and defense agencies in particular, is how to protect data in-transit across wireless networks, while allowing agencies to benefit from mobile computing. A secure wireless architecture should:
• Reduce an agency’s total cost of ownership
• Leverage existing wired infrastructure
• Use a common set of access-point/sensor hardware
• Deliver investment protection
• Support location-based services in a cost-effective way
• Converge wired/wireless security.
Join Stephen Orr (bio) for the Secure Wireless Viewpoint, the first in a series of Conversations with Cisco®, and learn how the Cisco secure wireless solution meets all aspects of the Federal.
Euro/Usd at important support levels
As the economic conditions are deteriorating across the Atlantic, the European Central Bank (ECB) changes its approach and might cut rates in the coming months. Speculation over the timing of the rate cut is mounting. But, time is running out and we might not wait too long for the first rate cut in almost fiver years, if economic numbers will be again negative in Europe.
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