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Saudi Arabia says will not announce an increase in oil production this year - Financial Times

Current boss of , Clive Cowdery, intends to return to the stock market with a new investment vehicle if Pearl is successful in its bid for the insurer - Financial Times

Investment in America’s railroad capacity could stop if proposed legislation is introduced - Financial Times

Luqman Arnold’s rescue plan for is welcomed by investors - Independent

Tokyo shares slump to a 15-month low as the sub-prime misery spreads - Independent

Insurer and takeover target Resolution has begun final round talks with Pearl - Independent

Haulage contractors today discuss a possible wave of protests over escalating fuel costs - The Times

Damon Buffini has been appointed chairman of UK buyout group Permira after a management shake-up aimed at transforming it into a global private equity colossus - The Times

Brewer is close to selling its loss-making French distribution business, Elidis - The Times

Morgan Stanley reduces the limits for thousands of credit card customers - Daily Telegraph

Global publisher emerges as a shock suitor for business publishing division - Daily Telegraph

Ministers have been advised to reject the bid for the tote - Daily Telegraph

Aid agencies urge the government to halt payments to the World Bank until it scraps its demanding loan conditions imposed on developing countries - Guardian

State-owned manufacturing firm Remploy, which provides jobs for the disabled, is to halve the number of factories facing closure after trade union pressure - Guardian

Al Gore teams up with Silicon Valley’s KPCB to fight global warming - Guardian

Other stories:
Dividend boon as Vodafone beats forecasts
E*Trade pushed to brink by sub-prime
Market report: Tuesday preview
French Connection feels the chill
Shares: Northern Rock (NRK) share price data and analysis
Gazprom tightens grip on UK gas
Barclays share price data, charts, news and share tips
HSBC ‘faces huge subprime crisis hit’
Sunday newspaper share tips
Subprime panic grips the High Street

The Canadian dollar retreated back below $1.02 US on Thursday as investors continued to bail out of the loonie.

In early afternoon trading in North America, the dollar was off 1.53 cents US at $1.0195 US.

The loonie has given up more thaneight cents US since it peaked at $1.1030 US on Nov. 7.

The dollar’s latest decline followed a report that said sales in Canada’s manufacturing sector fell in September as the loonie’s strength weighed on the sector.

Investors have also been selling out their holdings in the Canadian dollar following its rapid appreciation.

The selloff in the Canadian dollar also followeda U.S. inflation report that led to some questions over the likelihood of an interest rate cut south of the border inDecember.

The U.S. consumer price index increase in October came in at 0.3 per cent, which was exactly on par with the expectations of economists. The core reading which factors out some of the more volatile factors also met forecasts, coming in with a monthly increase of 0.2 per cent.

Economists said they still see inflationary pressures in the U.S. economy, casting some doubt on an interest rate cut by the Federal Reserve next month.

“Though the October inflation numbers were exactly in line with expectations, it is clear that there are still some inflation pressures percolating in the U.S,” said Charmaine Buskas, senior economics strategist at TD Securities.

“The sharp upturn in headline inflation and the apparent bottoming of the core rate suggests a December rate cut by the Fed isn’t a slam dunk (as futures markets think it is), though near-term developments in credit markets will likely decide the outcome,” said BMO Capital Markets economist Sal Guatieri.

In the event, the collapse in the bank’s share price - which was all but reversed yesterday, gaining 193p to 793p - was more like suffering from a stampede of sheep.

A&L’s price fall had all the hallmarks of by shadowy hedge funds.

They borrow stock from traditional pension funds and gamble on a fall by selling it, hoping to buy it back at a lower price.

But City sleuth Alex Hofmann at Data Explorers said that only 2.7% of A&L stock was out on loan, compared with 20% of .

He said: ‘It looks to me like market makers simply marked the price down. No-one has really made a huge amount of money out of this.’

David Buik at spread better Cantor Index agreed, berating jittery dealers for ’sheep selling’ and treating A&L with ’such wholesale contempt and pure ignorance’ by assuming it would be the next lender to go cap in hand to the Bank of England.

Stock lending, however, is on the rise. Data Explorers says that 71bn of FTSE stock is currently on loan - some 3.7% of the index. Pension funds charge the risk-taking hedge funds interest to supplement their returns.

Baillie Gifford, the Edinburgh that was Northern’s biggest shareholder, is thought to have sold most of its 6% stake in the last two days, realising close to a 200m loss.

Other stories:
City cuts price of Northern Rock takeover
Northern Rock crisis: News and advice
Northern Rock must hoist ‘for sale’ sign
Chancellor guarantees Northern Rock cash
Half of Northern Rock savers to pull cash
Savers’ Q&A: The Northern Rock fallout
Northern Rock’s SOS came six weeks ago
Northern Rock savers shut out of accounts

U.S. Treasuries ended little changed on Friday, but posted their best month in more than five years as investors saw tighter credit markets inevitably pushing the Federal Reserve toward an interest rate cut.

Bonds traded lower through much of the day Friday as investors turned from the perceived safe-haven of government debt to buy stocks after Federal Reserve Chairman Ben Bernanke bolstered hopes of an interest rate cut.

But bonds recovered some ground late Friday as stocks retreated from the days’s highs.

Bernanke remarks late Thursday signaled an openness to rate cuts.

Normally, expectations of lower interest rates would push bond prices higher and yields lower. On Friday however the rally in stocks through much of the day set the tone, as investors considered the possibility that lower official interest rates might throw a bit of a lifeline to struggling financial companies.

Benchmark 10-year notes were yielding 3.94%, unchanged from Thursday.

November has proven a banner month for bond prices as investors have snatched up lower risk investments. Yield on the 10-year note posted its biggest one-month fall since September 2002.

Bond traders were buzzing Friday about talk the U.S. Treasury Department was finalizing a plan with mortgage industry leaders that would hold interest payments steady for many subprime borrowers facing higher rates and possible foreclosure. But traders said they were unclear how it could work.

A benign reading in the Fed’s favored inflation measure Friday did nothing to hurt rate-cut hopes.

The government said the core personal consumption expenditure index, which does not include food and energy prices, rose 1.9% in October on a year-over-year basis, which is within the Fed perceived comfort zone for inflation of 1% to 2%.

Data on Friday also showed business activity in the Midwest expanded at a faster-than-expected pace in November, but that U.S. construction spending fell by more than expected in October.

Two-year notes traded flat in price for a yield of 3.02%, while 30-year bonds traded 29/32 lower in price for a yield of 4.39%, up from 4.34%.

The nationЙs first online, address-based climate and environmental-risk-reporting service celebrates its one year anniversary this month, with notable first year results and a number of high-profile initiatives undertaken during that timeframe to further its climate change communication mission to the public.

Easton, Conn., («www.prweb.com») November 30, 2007 — The nationЙs first online, address-based climate and environmental-risk-reporting service celebrates its one year anniversary this month, with notable first year results and a number of high-profile initiatives undertaken during that timeframe to further its climate change communication mission to the public. МWe are very pleased to reach the one-year mark with such a critical address-based climate change communication mission. In that time, we have had tens of thousands of visitors to our site from all over the U.S., and thousands of report requests, many with mission inspiring feedback. As importantly, we have pursued a number of climate change communication initiatives that should help tip awareness into action to mitigate climate changeН said David H. Purcell, founder and Chief Executive Officer, Climate Appraisal Services, LLC.

Since Climate Appraisal was launched in November 2006, there have been an almost constant stream of serious environmental events in which climate change may or may not have left its fingerprints, including 1) the first two Atlantic hurricanes this season reaching Category 5, the first time since record-keeping began, 2) an МexceptionalН drought in the southeast threatening water supplies, and a long-term drought in the west fueling wildfires 3) a set of wildfires in southern California displacing over 500,000 and causing major property loss, 4) extreme summer heat-waves in the south linked to over 50 deaths, 5) a record outbreak of tornadoes in October, 6) extreme weather and record rainfall in the Midwest and Texas causing loss of life, and 7) average September water levels in Lake Superior dipping below the previous 1926 low. МWe are extremely concerned about these events, and encourage people to assess their potentially increasing environmental risk as it could impact property value and quality of life,Н said Purcell.

«www.ClimateAppraisal.com»
To date, Climate Appraisal web traffic statistics have recorded almost one hundred federal, state and local governmental agencies visiting the site, including traffic from domain network addresses at the White House, State Department, Senate, House, Department of Justice, Securities & Exchange Commission, and the Treasury. Climate Appraisal has also been visited by a number of science dedicated agencies who have enabled its communication mission by systematically and actionably creating environmental risk data over many decades, including NASA, NOAA, EPA, USGS, USDA, DOE & FEMA Г Мwe would sincerely like to thank all those agencies for the incredible work they do to provide information to the publicН, said Purcell.

In addition, Climate Appraisal has recorded significant interest from international visitors from over 90 countries, including frequent traffic from domain network addresses in Canada, Argentina, Australia, United Kingdom, Netherlands, Belgium, India, Mexico, Germany, and France. МWe would like to thank all our international visitors to the Climate Appraisal site, we are extremely proud that they would find our U.S. based mission of such interest,Н said Purcell.

In keeping with the educational aspects of its mission, Climate Appraisal has recorded visitors from over 700 educational networks all over the U.S. МEvery day that we have visitors from educational institutions reminds us how critically important our mission is to future generations, as the current working and retired generations continue to struggle with implementing major initiatives now to avoid the most damaging potential impacts from climate change while there is still time. It is the people and countries who act now who will be most able to help mitigate and if necessary withstand the worst case climate change impacts projected,Н said Purcell.

Mission Initiatives Review: In review of its first year initiatives, Climate Appraisal has actively pursued 1) clarification from the Securities & Exchange Commission on its public company review criteria, and whether or not it is now actively applying Regulation S-K to enforce disclosure of coastal asset liability from potential climate change driven sea-level-rise, 2) comments on three Federal Energy Regulatory Commission (FERC) new or expanded liquid natural gas distribution terminals, resulting to date in ground-breaking comments in response on the risk of climate change driven sea-level-rise to two of those projects in FERCЙs final approvals, 3) a position from the National Association of Realtors on disclosure of potential climate change driven sea-level-rise risk to coastline homebuyers, which to-date real estate agents are not legally required to disclose, and 4) communication of location specific potential climate change risks in a highly regarded organizationЙs future recommendations of the best places to retire, as retirees may be at high climate change risk in moving to certain areas.

In addition to its initiatives, Climate Appraisal has received press recognition of its first-of-its-kind address-based climate change communication mission from a variety of major news sources, including USA Today, Dow Jones MarketWatch, Reuters, WBZTV Boston and the Nature Journal.

МWe are quite proud of our mission achievements as measured by our visitors, report requests, public feedback and press reception. Equally as important, we have expanded our communication mission to include operating as a change agent in moving climate initiatives forward in a variety of governmental and business arenas,Н said Dr. Jonathan Overpeck, Lead Science Advisor and professor of Geosciences at The University of Arizona, a specialist in climate dynamics, climate-vegetation interactions, and environmental decision-support. Dr. Overpeck has won numerous professional awards for his climate work, including sharing the Nobel Peace Prize this year for his work with the Intergovernmental Panel on Climate Change.

In addition to Dr. Overpeck, the Climate Appraisal Services Science Advisor team includes Dr. Susan Beck, The University of Arizona, Professor of Geosciences and a specialist in seismology, tectonics, and geological hazards, and Dr. Andrew C. Comrie, The University of Arizona, a Professor of Geography and of Atmospheric Sciences, whose specialties include climatology, climate and health and air quality science.

About Climate Appraisal Services, LLC
Launched in November 2006, Climate Appraisal Services, LLC (ClimateAppraisal.com) is the only single source that connects consumers with comprehensive address-based information on the possible impacts of climate change, hurricanes, tornadoes, earthquakes, wildfires, drought, floods, industrial pollution and disease. Leading researchers at The University of Arizona in Tucson have partnered with Climate Appraisal Services, LLC to provide such information.
Consumers or businesses who want a climate and environmental risk report for a current or potential property, or any other location with a U.S. address, can order a comprehensive, address-based appraisal report at ClimateAppraisal.com.

David Purcell, Climate Appraisal Services
203-261-5928,
DPurcell @ ClimateAppraisal.com

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