Monday, March 1
International News Updates
Chile quakedeath toll over 700 as rescue ramps up
Police fired tear gas and imposed an overnight curfew to control looters who sacked virtually every market in this hard-hit city as Chile's earthquake toll surpassed 700. President Michelle Bachelet promised imminent deliveries of food, water and shelter for thousands living on the streets
Chile President Michelle Bachelet steps up quake rescue
The earthquake debris in Chile and the coastal floods Chilean President Michelle Bachelet has announced emergency measures to deal with the destruction caused by Saturday's massive earthquake. The 8.8 magnitude quake - one of the most powerful recorded - devastated central parts of the country, killing more than 700 people. Troops are being deployed to help with rescue efforts and prevent looting. A curfew is in force in some areas. Basic supplies are to be distributed as rescuers reach..
Police fired tear gas and imposed an overnight curfew to control looters who sacked virtually every market in this hard-hit city as Chile's earthquake toll surpassed 700. President Michelle Bachelet promised imminent deliveries of food, water and shelter for thousands living on the streets
Chile President Michelle Bachelet steps up quake rescue
The earthquake debris in Chile and the coastal floods Chilean President Michelle Bachelet has announced emergency measures to deal with the destruction caused by Saturday's massive earthquake. The 8.8 magnitude quake - one of the most powerful recorded - devastated central parts of the country, killing more than 700 people. Troops are being deployed to help with rescue efforts and prevent looting. A curfew is in force in some areas. Basic supplies are to be distributed as rescuers reach..
Business Updates
JFK runway closure to rattle nerves
The main runway at New York's John F. Kennedy International will be closed for four months starting March 1. Millions of travelers will experience delays - including some not flying anywhere near the Big Apple. With about one-third of JFK's traffic and half of its departures being diverted to three smaller runways, planes will wait on longer lines on the ground for takeoffs and in the air for landings. Delays at one of the nation's largest airports will ripple to cities across the U.S.
The main runway at New York's John F. Kennedy International will be closed for four months starting March 1. Millions of travelers will experience delays - including some not flying anywhere near the Big Apple. With about one-third of JFK's traffic and half of its departures being diverted to three smaller runways, planes will wait on longer lines on the ground for takeoffs and in the air for landings. Delays at one of the nation's largest airports will ripple to cities across the U.S.
Sports Updates
Rogge brings end to "excellent, very friendly" Games
International Olympic Committee President Jacques Rogge described the Vancouver Winter Games as "excellent and very friendly" before declaring them closed on Sunday. Rogge, speaking at the closing ceremony, paid tribute to Nodar Kumaritashvili, the Georgian luger .
Bopara will join by Wednesday: Kings XI Punjab.
International Olympic Committee President Jacques Rogge described the Vancouver Winter Games as "excellent and very friendly" before declaring them closed on Sunday. Rogge, speaking at the closing ceremony, paid tribute to Nodar Kumaritashvili, the Georgian luger .
Bopara will join by Wednesday: Kings XI Punjab.
Crime News
Dubai murder suspects 'hiding in Israel'
Mahmud al-Mabhuh, a founder of the military wing of the Palestinian Islamist movement Hamas, was found dead in his Dubai hotel room on January 20. Police said he had been drugged then suffocated.
"I am sure that all the suspects are in Israel," police chief Dahi Khalfan told a media conference in the Emirati capital Abu Dhabi.
"If they stay in Israel, they won't be arrested, but eventually if they leave they will be arrested," the police chief added, referring to a list of suspects passed on to Interpol.
Twelve British, six Irish, four French, three Australian and one German passports were used by 26 named suspects, according to Dubai police, who say they fled the emirate on flights to Europe and Asia.
Robbers leave wounded partner to die
A fatally wounded robber was abandoned by his accomplices after they pushed him from their getaway car while fleeing from a Pretoria business which they had robbed.
The gang of three, who were armed with a toy gun, were in the process of robbing a printing business in Menlo Park on Friday night when they were surprised by one of the employees, who lives on the premises.
As the man, who was at 10th Street premises in Menlo Park with three of his colleagues, went to investigate a noise he came across the suspects stealing computer equipment.
Police said the suspects fled from the house with their loot and sped off in their getaway car which was waiting outside the business.
Police spokesperson, Captain Colette Weilbach said as the robber's getaway driver drove off the car was suddenly stopped and the wounded suspect was pushed out of the vehicle. "The suspects then drove off leaving their fatally wounded accomplice behind," she said, adding that the man died in the street.
Weilbach said the dead suspect's accomplices escaped with several pieces of computer equipment.
She said police, who were investigating a business robbery case, found a 9mm toy gun inside the house, which one of the suspects was believed to have left behind when they escaped.
Mahmud al-Mabhuh, a founder of the military wing of the Palestinian Islamist movement Hamas, was found dead in his Dubai hotel room on January 20. Police said he had been drugged then suffocated.
"I am sure that all the suspects are in Israel," police chief Dahi Khalfan told a media conference in the Emirati capital Abu Dhabi.
"If they stay in Israel, they won't be arrested, but eventually if they leave they will be arrested," the police chief added, referring to a list of suspects passed on to Interpol.
Twelve British, six Irish, four French, three Australian and one German passports were used by 26 named suspects, according to Dubai police, who say they fled the emirate on flights to Europe and Asia.
Robbers leave wounded partner to die
A fatally wounded robber was abandoned by his accomplices after they pushed him from their getaway car while fleeing from a Pretoria business which they had robbed.
The gang of three, who were armed with a toy gun, were in the process of robbing a printing business in Menlo Park on Friday night when they were surprised by one of the employees, who lives on the premises.
As the man, who was at 10th Street premises in Menlo Park with three of his colleagues, went to investigate a noise he came across the suspects stealing computer equipment.
Police said the suspects fled from the house with their loot and sped off in their getaway car which was waiting outside the business.
Police spokesperson, Captain Colette Weilbach said as the robber's getaway driver drove off the car was suddenly stopped and the wounded suspect was pushed out of the vehicle. "The suspects then drove off leaving their fatally wounded accomplice behind," she said, adding that the man died in the street.
Weilbach said the dead suspect's accomplices escaped with several pieces of computer equipment.
She said police, who were investigating a business robbery case, found a 9mm toy gun inside the house, which one of the suspects was believed to have left behind when they escaped.
Entertainment Updates
Finaly "Shrek" movie to open Tribeca Film Fest
The world's most famous ogre, Shrek, his princess, and motley crew of friends will open the Tribeca Film Festival next month, with the final chapter of the successful series making its world premiere in 3-D in New York.
Giorgio Armani Looking Ever More Easterly
That felt very much the mood at Giorgio Armani's latest runway show Saturday, Feb. 27, in Milan, when Italy's most famous designer staged an Asian-tinted show, before the industry's top critics and editors and a team of his executives buoyed by their booming business in China.
Armani has frequently included Asian imagery and ideas in his collections before, one season Japanese, and now Chinese, and consumers have always been huge fans. But the link has rarely been more apparent than in this fall 2010 collection, which reached its climax on the designer's Perspex catwalk, lit from underneath in a bright signature Chinese red.
That colored rippled through this collection, which the designer christened "Uptown Girl," and whose most elegant moment was a pair of young ladies in pink cocktail dresses with Chinese abstract paisley embroidered motifs, a brilliant bridge between East and West.
Yet, his opener was a foursome of dashing figures in hyper luxe emerald green, swirling cloak dresses and coats with elaborate collars that had all the movie star glory one expects from Armani.
The world's most famous ogre, Shrek, his princess, and motley crew of friends will open the Tribeca Film Festival next month, with the final chapter of the successful series making its world premiere in 3-D in New York.
Giorgio Armani Looking Ever More Easterly
That felt very much the mood at Giorgio Armani's latest runway show Saturday, Feb. 27, in Milan, when Italy's most famous designer staged an Asian-tinted show, before the industry's top critics and editors and a team of his executives buoyed by their booming business in China.
Armani has frequently included Asian imagery and ideas in his collections before, one season Japanese, and now Chinese, and consumers have always been huge fans. But the link has rarely been more apparent than in this fall 2010 collection, which reached its climax on the designer's Perspex catwalk, lit from underneath in a bright signature Chinese red.
That colored rippled through this collection, which the designer christened "Uptown Girl," and whose most elegant moment was a pair of young ladies in pink cocktail dresses with Chinese abstract paisley embroidered motifs, a brilliant bridge between East and West.
Yet, his opener was a foursome of dashing figures in hyper luxe emerald green, swirling cloak dresses and coats with elaborate collars that had all the movie star glory one expects from Armani.
Science/Health Updates
High-fadiets raise stroke risk in women
A moment on the lips, forever on the hips? A bad figure is hardly the worst of it. Eating a lot of fat, especially the kind that's in cookies and pastries, can significantly raise the risk of stroke for women over 50, a large new study finds. We already know that diets rich in fat, particularly artery-clogging trans fat, are bad for the heart and the waistline.
The new study is the largest to look at stroke risk in women and across all types of fat. It showed a clear trend: Those who ate the most fat had a 44 percent higher risk of the most common type of stroke compared to those who ate the least.
"It's a tremendous increase that is potentially avoidable," said Dr. Emil Matarese, stroke chief at St. Mary Medical Center in Langhorne, Penn. "What's bad for the heart is bad for the brain."
Fords to Feature Voice
Later this year, Ford automobiles will let you access the Internet and take your digital life on the road. Safety experts worry, however, that all the distractions could be dangerous.
A moment on the lips, forever on the hips? A bad figure is hardly the worst of it. Eating a lot of fat, especially the kind that's in cookies and pastries, can significantly raise the risk of stroke for women over 50, a large new study finds. We already know that diets rich in fat, particularly artery-clogging trans fat, are bad for the heart and the waistline.
The new study is the largest to look at stroke risk in women and across all types of fat. It showed a clear trend: Those who ate the most fat had a 44 percent higher risk of the most common type of stroke compared to those who ate the least.
"It's a tremendous increase that is potentially avoidable," said Dr. Emil Matarese, stroke chief at St. Mary Medical Center in Langhorne, Penn. "What's bad for the heart is bad for the brain."
Fords to Feature Voice
Later this year, Ford automobiles will let you access the Internet and take your digital life on the road. Safety experts worry, however, that all the distractions could be dangerous.
Saturday, February 27
Pacific-wide tsunami risk after Chile quake
Japanese authorities warned of a tsunami risk across wide areas of the Pacific after a major earthquake struck Chile on Saturday, with US geologists saying the risk extended as far as the Antarctic. Asian nations are highly sensitive to any tsunami risk following the massive.
Australia On Tsunami Watch Following Chile Quake
Australia On Tsunami Warning Following Massive 8.8-magnitude Earthquake In Chile Font size Print E-mail Share (AP) SYDNEY
US, Afghan Forces Clear Last Parts Of Taliban Area
Marines and Afghan troops who fought through the center of Marjah linked up Saturday with American soldiers on the..
Pakistan Suicide Attack Kills 4
A suicide car bomber attacked a police station Saturday in northwest Pakistan, killing four people and wounding about two dozen, underscoring the continuing security threat to the country despite army operations against militants. The blast also toppled.
Obama silent ahead of vote on Armenian genocide
In this April 24, 2009 file photo, Armenians gather to mark the 94th anniversary of the mass killing of the Armenian people, at a monument in Yerevan. President Barack Obama is facing a bind as a congressional panel prepares a vote next week on a resolution that would recognize the World War I-era killings of Armenians by Ottoman Turks as a genocide. More News President Barack Obama is in a bind as a congressional panel prepares to vote next week on a resolution that.
New York Cancels Classes as Blizzard Hammers Northeast
Thousands of people in the New York City region were without power and dozens of school districts — including all New York City public schools - were shut down on Friday morning as a lumbering late-February blizzard lashed the area with driving snow.
An attack aimed at India
The timing of the Kabul attack, just after direct India-Pakistan talks resumed, and the targeting of Indians, raises questions over who ordered the bombing and with what motives Afghan National Army soldiers carry a victim from the site of a blast in Kabul.
German Parliament Backs Afghan Troop Increase
Germany's plan to send up to 850 extra troops to Afghanistan cleared its final hurdle Friday when lawmakers gave it strong backing. They voted 429-111, with 46 abstentions, to increase the maximum number of German troops serving in Afghanistan to 5,350 from 4,500
Thai court rules on ex-leader Thaksin's wealth
Thailand's Supreme Court ruled Friday that ousted Prime Minister Thaksin Shinawatra unlawfully concealed his assets while in office and abused his power for personal gain, as it prepared to issue a decision on whether his $2.29 billion...
Friday, February 26
Cyber cirminal :Jie Dong
Jie Dong is wanted for defrauding Internet auction site users out of approximately $800,000. In the fall of 2003, Dong allegedly offered items on the auction site and collected money from the purported winning bidders. Dong is alleged to have never produced the promised merchandise to the nearly 5,000 victims. Dong is believed to have later fled from the United States to China and may now be in Hong Kong
Amer El-Maati
Amer El-MaatiAmer El-Maati is being sought in connection with possible terrorist threats against the United States.
Ex-Officer Pleads Guilty in Katrina Killing Probe
in Hurricane Katrina's chaotic aftermath, police shot six people — killing two — as they crossed a bridge in search of food. For years the case was a shocking symbol of the confusion and violence that swept...
Show figures rise in teen pregnancies rise in teen pregnancies
FIGURES released this week show the number of teenage pregnancies in Wychavon has risen by four per cent over a ten-year period, the highest rise across Worcestershire.
Noordin Mohammad Top
Noordin Mohammad Top is reportedly an officer, recruiter, bombmaker, and trainer for the Jemaah Islamiah (JI) group that was involved in the bombings of a Bali nightclub, a Jakarta hotel, and the Australian Embassy in Indonesia between 2002 and 2004.
Wanted!! Robert William Fisher
Wanted for allegedly killing his wife and two young children in Scottsdale, Arizona, in 2001. Fisher stands 6 feet tall, 190 pounds, with a medium build. He has blue eyes and brown hair and has surgical scars on his lower back. He has a noticeable gold crown on his upper left first bicuspid tooth. He may walk with an exaggerated erect posture and his chest pushed out due to a lower back injury. Fisher is known to chew tobacco heavily
Hopes for health reform
The pilot program to revamp State-owned hospitals slated for 16 Chinese cities this year marks the beginning of the much-debated reform to make healthcare services affordable.
Black Adults' Alcohol Use and Binge Drinking Levels are Below the National Average
The current alcohol use rate for blacks aged 18 and older is significantly lower than the national adult average (44.3 percent versus 55.2 percent) according to a new study based on a national survey. The study by the Substance AbusE .
Treat Erectile Dysfunction
A new treatment has been discovered to help treat erectile dysfunction, however, the men might wince at the thought of this idea.
Panel recommends annual flu vaccinations for all
A government panel is now recommending that virtually all Americans get a flu shot each year, starting this fall. The Advisory Committee on Immunization Practices had gradually been expanding its recommendation for flu.
New Cancer-Fighting Strategy Focuses on Signaling Molecules
Cancer researchers studying the immune system have identified a previously unrecognized set of targets and biomarkers to battle solid tumors.
Why allergies are like Prescott
ALLERGIES are like politicians - always in the news, blamed for everything and liable to bring you out in hives. Already this week we've had stories about misleading high street allergy tests and "new hope" for children with peanut allergy.
Unmarried Older Women More Likely To Lack Health Insurance
Older California women without spouses are more than twice as likely as married women to be uninsured, according to a new policy brief from the UCLA Center for Health Policy Research, Payers & Providers reports.
Midlife crisis: Unmarried older women twice as likely to lack health insurance
Midlife crisis: Unmarried older women twice as likely to lack health insurance
New strategy to fight Botulinum toxin molecules announced
A new strategy for clearing Botulinum toxin molecules - one of the world's deadliest substances - has been developed by a team from Tufts University.
80pc cancer deaths in third world countries: WHO
By Our Correspondent According to the World Health Organization, cancer claims at least 8 million lives every year due to cancer all over the world out of which 80 per cent deaths occur in the third world countries.
Snoop Versus the U.K.
The Wall Street Journal reports that in the coming weeks, a British court will decide once and for all whether to lift a five-year ban preventing rapper Snoop Dogg from entering the United Kingdom. In addition to running an amazing portrait of Snoop, the WSJ goes into great detail on the (somewhat dubious) details of his banishment.
Abhishek plays with Sonali-Kiron on Bingo
Abhishek Bachchan’s next set of celebrity guests on his game show National Bingo Night are Sonali Bendre and Kiron Kher. Wow Sonali still looks so great and refreshing, she should make a comeback in movies.
Mimicking Amitabh Bachchan gave me recognition – Raju Srivastav
Mumbai, Comedian Raju Srivastav here Wednesday revealed that his ability to mimic megastar Amitabh Bachchan gave him his initial recognition.
“When I came to Mumbai, most people used to entertain the audience imitating Dev Anand, Raj Kumar and Shatrughan Sinha. No one used to do any mimicry of Amitabh Bachchan. After me Sudesh Bhonsle started doing it. It was almost at the same time. But he could only speak in that voice but I could speak, dance, cry and laugh, all in Bachchan style. This helped me gain initial recognition here,” Raju Srivastav told reporters at a conference organised by 92.7 Big FM, for whom he has donned the role of an RJ.
“When I came to Mumbai, most people used to entertain the audience imitating Dev Anand, Raj Kumar and Shatrughan Sinha. No one used to do any mimicry of Amitabh Bachchan. After me Sudesh Bhonsle started doing it. It was almost at the same time. But he could only speak in that voice but I could speak, dance, cry and laugh, all in Bachchan style. This helped me gain initial recognition here,” Raju Srivastav told reporters at a conference organised by 92.7 Big FM, for whom he has donned the role of an RJ.
Arshad Warsi to get Rs.3 crore for ‘Golmaal 3′
Mumbai, Arshad Warsi has finally agreed to do “Golmaal 3″ after the producers agreed to pay him a whopping Rs.3 crore to be part of the film, sources said.
Director Rohit Shetty said Arshad was on for the project, but the actor did not confirm his consent for the film.
Sources said the deal was finally cut Monday, after frantic negotiations. Arshad’s fee is higher than each member of the cast, barring Ajay Devgn. It is even higher than that of Kareena Kapoor who has a three-film deal with the producers.
Director Rohit Shetty said Arshad was on for the project, but the actor did not confirm his consent for the film.
Sources said the deal was finally cut Monday, after frantic negotiations. Arshad’s fee is higher than each member of the cast, barring Ajay Devgn. It is even higher than that of Kareena Kapoor who has a three-film deal with the producers.
Top 20 Concert Tours
The Top 20 Concert Tours ranks artists by average box office gross per city and includes the average ticket price for shows in North America. The previous week's ranking is in parentheses. The list is based on data provided to the trade publication Pollstar by concert promoters and venue managers.
Snoop Versus the U.K.
The Wall Street Journal reports that in the coming weeks, a British court will decide once and for all whether to lift a five-year ban preventing rapper Snoop Dogg from entering the United Kingdom. In addition to running an amazing portrait of Snoop, the WSJ goes into great detail on the (somewhat dubious) details of his banishment.
Ralph Lauren's Dark Classicism
Leave it to Ralph Lauren to best capture the mood of New York, with a darkly classic fall 2010 collection on Thursday, Feb. 18, where even the floral prints seemed photographed at night.
Tommy Hilfiger Bids Good-Bye to Bryant Park
New York - Tommy Hilfiger's brand of preppy, all-American classics with a twist closed New York's fall 2010 fashion week - as well as the Bryant Park venue, on Thursday, Feb. 18.
After 18 years of being the largest central venue for fashion shows in New York during the twice a year collection previews, Mercedes-Benz Fashion Week will move to Lincoln Center in September.
In terms of the kind of glamorous, celebrity-filled spectacle that the Bryant Park tents has come to represent in the imaginations of New Yorkers and beyond, Hilfiger did not disappoint. A front row of the who's who of the entertainment world's bright young things included "Gossip Girl" stars Ed Westwick and Penn Badgley, Rosario Dawson, Hayden Panettiere and Ashley Olsen.
After 18 years of being the largest central venue for fashion shows in New York during the twice a year collection previews, Mercedes-Benz Fashion Week will move to Lincoln Center in September.
In terms of the kind of glamorous, celebrity-filled spectacle that the Bryant Park tents has come to represent in the imaginations of New Yorkers and beyond, Hilfiger did not disappoint. A front row of the who's who of the entertainment world's bright young things included "Gossip Girl" stars Ed Westwick and Penn Badgley, Rosario Dawson, Hayden Panettiere and Ashley Olsen.
EU budget chief to enforce Greek cuts
Caught between striking workers and sceptical EU officials, Greece's crisis-hit Socialist government will have to brief the EU's budget chief next week on its plans to tame the country's massive debt.
New-Home Sales At Record Low In Jan.; Bernanke Soothes
New-home sales dived to a record low in January but stocks rallied as Federal Reserve chief Ben Bernanke eased concerns that the central bank will take the economy off life support too soon.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Royal Bank of Scotland loses $5.5 billion in 2009
Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.
Thursday, February 25
Has Pacquiao's training sessions become 'The Event' that everyone wants to see?
Manny PacquiaoAP With each week of training, comes more excitement and amazing news from the Wild Card Gym. In addition to the amazement of Pacquiao’s current level of conditioning,...
Evander Holyfield turns to Dr Phil to help save his marriage:
Boxing legend Evander Holyfield is getting some extra coaching to save his marriage by reaching out to TV psychologist Dr Phil. Evander Holyfield at the 15th Annual MusiCares Gala Tribute...
Andy Murray fury as plan of attack backfires against Janko Tipsarevic in Dubai:
There were times on Wednesday when Andy Murray resembled an old-fashioned net rusher and, had his shorts been a little tighter, you might have thought you were being transported back to the Seventie...
Blake wraps up rain-delayed match in 40 seconds at Delray :
DELRAY BEACH, Florida, Feb 24 (Reuters) - American James Blake quickly finished off his rain-delayed first round match with Taylor Dent 6-1 3-6 6-3 at the Delray Beach International tennis tournament ...
GMAC stable after latest bailout: US aide
GMAC, the troubled former finance arm of General Motors, has been "stabilized" since the latest government bailout, a special US adviser told a congressional panel on Thursday.
Judge approves SEC-BofA settlement on Merrill deal
A federal judge said Monday he would reluctantly approve an amended $150 million settlement between the Securities and Exchange Commission and Bank of America to end civil charges accusing the bank of misleading shareholders when it acquired Merrill Lynch.
New-Home Sales At Record Low In Jan.; Bernanke Soothes
New-home sales dived to a record low in January but stocks rallied as Federal Reserve chief Ben Bernanke eased concerns that the central bank will take the economy off life support too soon.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Bernanke spoke to a House panel as the Commerce Department reported new-home sales sank 11.2% to an annualized 309,000, the lowest since records began in 1963. Analysts expected a small gain to 354,000. That stepped up fears that the housing and broader economic revival could stall as the government and Fed end support.
The central bank last week unnerved investors by raising its largely symbolic discount rate on loans to banks. But Bernanke stressed an ultra-low benchmark fed funds rate is still needed to aid a "nascent" recovery.
The Nasdaq and S&P 500 rose 1% while the Dow gained 0.9%.
"He relieved a little apprehension that the punch bowl is going to leave the party ," said James Grefenstette, a senior portfolio manager at Federated Investors.
The Fed has kept the fed funds rate at a record low near 0% and is purchasing over $1 trillion in mortgage securities to bolster housing. But it plans to end those buys in March and has started to wind down other lending programs.
Oil falls 3 percent on recovery concerns
Oil fell more than 3 percent on Thursday to $77 a barrel, dragged lower by concerns over the outlook for the European economy and about the pace of U.S. recovery after a surprise jump in U.S. unemployment
Taxes: Finding the Right Fit:
Asset allocation has long been the mantra of financial advisers and smart investors intent on minimizing risk through diversification. Now, with the specter of higher taxes on income, qualified dividends, and long-term capital gains looming in 2011 and beyond, the idea of "asset location" for tax purposes is likely to become equally pervasive. "Location" in this sense means where an asset finds its most suitable home: a taxable account, or a tax-deferred portfolio such as a 401(k) plan or individual retirement account (IRA
Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill:
Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is looking into the use by Goldman Sachs and other Wall Street firms of a sophisticated investment instrument to make bets that Greece will default on its debt.
Real Madrid superstar Cristiano Ronaldo puts the boot in with new Nike Superflys:
Real Madrid ace Cristiano Ronaldo unveiled his new boots at Battersea Power Station this week. | The Portugal ace will wear the Nike Mercurial Vapor Superfly IIs, which..
Inter Milan edge Chelsea 2-1 after thrilling first leg
Milan: Inter Milan battled to a 2-1 win over an impressive Chelsea to hold a slight advantage after their Champions League last-16 first leg at the San Siro on Wednesday. | Home striker Diego Milito
Follow Tiger's lead, you're in with a chance:
The Sunshine Tour would do well to learn from Tiger Woods - strictly the on-course one, that is - in the R2,65-million Vodacom Championship beginning at Pretoria Countr.
Just what Tiger needs: Bubba therapy:
You know it's coming. Because the man can't help himself. | One day soon Bill Clinton will reach out to Tiger Woods. It's easy to imagine the conversation ... | Clinton: Tiger, this is Bill Clinton.
Tendulkar the history man:
It is the hunger that is perhaps most remarkable about Sachin Tendulkar. Yesterday was his 442nd one-day international - in a career spread over four decades - and his best yet as he became the first..
Vancouver 2010 event schedule for U.S. women athletes on Feb. 25:
Vncouver 2010 Photo courtesy of Team USA Three medal events in three different disciplines are on the agenda for the female ladies on Team USA at the Winter Olympics 2010 on Feb.25: alpine skiing, cross country and ice hockey...
Australian Open - Men: Cilic downs Del Potro:
Reuters - US Open champion Juan Martin Del Potro was knocked out of the Australian Open, the Argentine edged out by Croatia's Marin Cilic in a marathon fourth round
Juan Martin Del Potro knocked out of Australian Open:
Melbourne: US Open champion Juan Martin Del Potro was knocked out of the Australian Open on Sunday, the Argentine edged out by Croatia's Marin Cilic in a marathon...
Back-to-back wins whet Chong Wei's appetite for main meal:
By Gene Cherry RALEIGH, North Carolina, Jan 26 (Reuters) - Justin Gatlin is learning how to sprint again, a fact that has little to do with the American's four-year.
Interesting items found in drawer:
Emptying Out the Desk Drawer of the Sports Mind: The Who Dats will be invading Miami, but why are the Who providing the halftime entertainment? Was Chubby Checker not available? Can't think of a more
Chelsea's Didier Drogba Goal Chelsea Comment: Birmingham City The Last Hurdle To Overcome Before Didier Drogba's Return :
Chelsea's Didier Drogba Goal
Chelsea Comment: Birmingham City The Last Hurdle To Overcome Before Didier Drogba's Return
Chelsea Comment: Birmingham City The Last Hurdle To Overcome Before Didier Drogba's Return
Ennis beats Jones:
Glasgow, Scotland - Heptathlon specialist Jessica Ennis ran a British record time in the 60-meter hurdles to.
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