| RBA lifts rates by .25 percent and it will hurt, says Rudd
PRIME Minister Kevin Rudd says the latest rise in official interest rates will be a double blow for family budgets still struggling with last month's increase. "Today's news is a double blow for the family budget," he told reporters in Canberra. "Two rate rises will hurt working families." Homebuyers will have to find an extra $50 a month for the average mortgage after the Reserve Bank of Australia raised its official cash rate by a quarter of a percentage point, to 7.25 per cent, following today's monthly central bank board meeting. The move to the highest level in 12 years was widely tipped by economists, given the RBA's concern about a worsening inflation outlook. Last month, the RBA raised rates by a quarter of a percentage point as well. How much monthly mortgage repayments will increase after today's interest rate rise, assuming a new standard variable mortgage rate of 9.20 per cent on a 25-year loan.
February 2006 Archives
The name of the place is 'Help' and the girls there are supposed to be the cheapest prostitutes in the city," a source tells the Scoop. "According to the local press he was annoyed when he saw the photographers and arranged to get in through the garage." What must his girlfriend, model Kim Porter, think? Actually, she's probably used to it. .
New blow for Wendy Alexander as key aide quits
Wendy Alexander, Scottish Labour's embattled leader, has suffered another blow after it emerged a top aide is to quit. Although Labour officials were last night stressing Tony McElroy had been planning his departure for a while, the timing could hardly be worse for the party's leader. .
The Judgment.
Meanwhile, the US has invaded two countries, throwing them into total chaos, while beating the drums for war with Iran and conspiring with Israel to invade Lebanon and to attack Syria. The indisputable facts are that the US and Israel have attacked four Middle East countries and are determined to attack a fifth. Yet, it is peaceful Iran, at war with no one, that Bush and Israel blame for causing instability in the Middle East. Not content with its many wars in the Middle East, the Bush Regime is sponsoring wars in Africa and is setting up an African Command. The US government has been bombing and attacking other countries ever since the cold war ended. Instead of peace, the gang in Washington DC chose war. Other than the Israel Lobby, the greatest supporters of Bush's wars are Christian evangelicals, specifically the "rapture evangelicals" and the "Christian Zionists." I remember when Christianity was about saving one's soul.
Q&A Bob's Marketing Blog Aims To Be a Fun Read for Clients
As we're pushing more into financial services, you're going to see Bob address more Internet-banking topics and financial-marketing issues. The free-form structure allows us to change direction easily. It's not like we have to stop a certain newsletter and start a new one. Bob's on Facebook. We definitely want to make Bob more visible from a social-networking perspective. Write to Laura Lorber at laura.lorber@wsj.com .
'Idol' Score: Randy Jackson's Hit
The good news is that once a bid is accepted, Jackson is no longer the debtor. If Fortress accepts a lower bid than $24.5 million, Jackson is not liable for the balance. The debt is cleared. But think what a circus this outdoor auction will be like, and what embarrassment it adds up to. Jackson could easily have avoided this, too. Meanwhile, don't believe spin from the Jackson camp reported on less successful cable operations. We reported a couple of weeks ago that Jackson had paid off a $600,000 bill to the California State Franchise Board having to do with a company called Select Staffing. That had nothing to do with the foreclosure. Jackson owed that money to the state regardless. And there's a big difference between the tax amount and what it would take to save Neverland from auction.
Update on Jungle Yellow Fever (JYF) in Brazil, Paraguay, and Argentina
On 15 January 2008, the national health authorities of Paraguay reported their first confirmed cases of Jungle Yellow Fever. One of the cases was confirmed using molecular techniques; the other four, by epidemiological nexus. As of 11 February 2008, 4 other suspected cases of JYF have been reported. All the confirmed cases reported by the national health authorities come from a rural area of San Pedro department in the northern part of the country. National health authorities have intensified epidemiological surveillance for the detection and investigation of suspected cases, and yellow fever vaccination for people living in or traveling to the affected area. On 17 January 2008, the national health authorities of Argentina reported finding dead monkeys in Pialito Park, San Pedro department, Misiones province.
Paper clip attack skewers Chip and PIN
Updated UK researchers have uncovered a serious flaw in the Chip and PIN machines that authenticate debit and credit card transactions. Two of the most popular PIN entry devices (PED) in the UK — the Ingenico i3300 and Dione Xtreme — are vulnerable to a "tapping attack", using nothing more sophisticated than a paper clip, a needle and a small recording device. .
Visa mulls $19 Bn IPO
New York: Credit card network VISA may raise up to $18.8 billion in the largest-ever initial public offering (IPO). The move comes amid concerns that the global credit crunch could eat into card volumes. The company filed with the U.S. Securities and Exchange Commission to sell 406 million Class A shares at $37 to $42 each, resulting in $15 billion to $17.1 billion of proceeds. Visa said it might sell another 40.6 million shares to meet demand, boosting the IPO?s potential size to $18.8 billion.
San Francisco based Visa plans to list on the New York Stock Exchange under the symbol "V." Visa's offering has got a risky timing as possibilities of the U.S. economy entering a recession have chilled investor demand for stocks and IPOs.
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