Bird flu fiction and facts
Fiction 1: We're all going to die.
Fiction 2. Quarantine outbreak areas to contain the disease.
Fact 1. Flu viruses mutate.
Fact 2. Flu and cold viruses are transmitted mainly by touch.
(Some recent
Fact 3. The public health system in the US has become
inadequate to deal with a flu pandemic.
Ankara Steps Up Efforts to Control Avian Flu
January 11, 2006 · Turkey's
government has ordered the slaughter of hundreds of thousands of
domestic birds in an effort to control an outbreak of avian flu. The
virus has killed three people and infected at least 15.
U.N. agencies say Turkey is taking adequate measures,
but warns neighboring countries to be on alert.
Tsunami Facts and Fiction
Common Myths About Tsunamis
Fiction: Tsunamis are giant walls of water.
Facts: Tsunamis normally have the appearance of
a fast-rising and fast-receding flood. They can be similar to a tide
cycle occurring over 10 to 60 minutes instead of 12 hours.
Occasionally, tsunamis can form walls of water, known as tsunami
bores, when the waves are high enough and the shoreline configuration
is appropriate.
Fiction: A tsunami is a single wave.
Facts: A tsunami is a series of waves. Often
the initial wave is not the largest. The largest wave may occur
several hours after the initial activity starts at a coastal location.
There may also be more than one series of tsunami waves if a very
large earthquake triggers local landslides. In 1964, the town of
Seward, Alaska, was devastated first by local tsunamis caused by
submarine landslides resulting from the earthquake and then by the
earthquake’s main tsunami. The local tsunamis began even as people
were still experiencing the shaking. The main tsunami, triggered at
the site of the earthquake, did not arrive for several hours.
Fiction: Boats should move to the protection of
a bay or harbor during a tsunami.
Facts: Tsunamis are often most destructive in
bays and harbors, not just because of the waves but because of the
violent currents they generate in local waterways. Tsunamis are least
destructive in deep, open ocean waters.
Food Freshness
Guide
Foods
frozen for longer than the recommended times aren't harmful — they just
won't be at their peak flavor and texture.
FOOD - TIME IN FREEZER (0°F)
Milk - 3 months
Butter - 6 to 9 months
Cheese, hard (Cheddar, Swiss)
- 6 months
Cheese, soft (Brie, Bel Paese)
- 6 months
Cream, half-and-half - 4 months
Sour cream - don't feeze
Eggs (raw yolks, whites) - 1 year
Frankfurters (opened or unopened packages)
- 1 to 2 months
Luncheon meats (opened or unopened packages)
- 1 to 2 months
Bacon - 1 month
Sausage, raw, links or patties
- 1 to 2 months
Ham, fully cooked (whole, half, slices)
- 1 to 2 months
Ground or stew meat - 3 to 4 months
Steaks - 6 to 12 months
Chops - 3 to 6 months
Roasts - 4 to 12 months
Chicken or turkey, whole - 1 year
Chicken or turkey, pieces
- 9 months
Casseroles, cooked, poultry
- 4 to 6 months
Casseroles, cooked, meat - 2 to 3 months
Soups and stews - 2 to 3 months
Fish, lean (cod, flounder, haddock)
- 6 months
Fish, fatty (bluefish, mackerel, salmon)
- 2 to 3 months
Fish, cooked - 4 to 6 months
Fish, smoked - 2 months in vacuum pack
Shrimp, scallops, squid, shucked clams, mussels, oysters
- 3 to 6 months
Pizza - 1 to 2 months
Breads and rolls, yeast - 3 to 6 month
Breads, quick - 2 to 3 months
Cakes, unfrosted - 3 months
Cheesecakes - 2 to 3 months
Cookies, baked - 3 months
Cookie dough, raw - 2 to 3 months
Pies, fruit, unbaked - 8 months
Pies, custard or meringue-topped
- don't freeze
Piecrust, raw - 2 to 3 months
Nuts, salted - 6 to 8 months
Nuts, unsalted - 9 to 12 months
Excerpted from The Good Housekeeping Cookbook
(Hearst Books/Sterling Publishing).
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US Presidential Elections 2008, including websites
for Obama and McCain. ><>
o
Text of Obama's
inaugural speech
Bush twins offer advice to Obama girls
As of 2009 there have been 44 presidents of
the United States.
First to current: George Washington, John
Adams, Thomas Jefferson, James Madison,
James Monroe, John Quincy Adams, Andrew
Jackson, Martin Van Buren, William Henry
Harrison, John Tyler, James Polk, Zachary
Taylor, Millard Fillmore, Franklin Pierce,
James Buchanan, Abraham Lincoln, Andrew
Johnson, Ulysses S. Grant, Rutherford B.
Hayes, James Garfield, Chester Arthur,
Grover Cleveland, Benjamin Harrison, Grover
Cleveland, William McKinley, Theodore
Roosevelt, William H. Taft, Woodrow Wilson,
Warren Harding, Calvin Coolidge, Herbert
Hoover, Franklin D. Roosevelt, Harry S.
Truman, Dwight Eisenhower, John F. Kennedy,
Lyndon Johnson, Richard Nixon, Gerald Ford,
Jimmy Carter, Ronald Reagan, George Bush,
Bill Clinton, George W. Bush and Barack
Obama.
Iran claims first launch of its own
satellite photo
TEHRAN, Iran (AP) - Iran sent its first
domestically made satellite into orbit, the
president announced Tuesday, a key step for
an ambitious space program that worries the
U.S. and other world powers because the same
rocket technology used to...
US supply routes in Afghanistan squeezed
2 ways photo
KABUL (AP) - U.S. troops in Afghanistan saw
their supply lines squeezed from the north
and east Tuesday after militants blew up a
bridge in Pakistan and Kyrgyzstan's
government said it would end American use of
a key air base following Russia's...
Colombian freed by rebels embraces family photo
VILLAVICENCIO, Colombia (AP) - An
ex-governor freed Tuesday by leftist rebels
stepped from a helicopter into the embrace
of the wife and son he hadn't seen for 7 1/2
years - then said President Alvaro Uribe and
the guerrillas are equally to...
Degas ballerina bronze sold at
London
auction
A sculpture by French Impressionist Edgar
Degas sold for 13.3 million pounds ($19
million) Tuesday at Sotheby's auction house
in London
Snow Business Means No Business in
London
Why
London
was stopped by snow -- and why it won't be
any better prepared next time
London eatery
lets customer decide bill
A
London
restaurant has come up with a novel idea to
drum up custom in the economic downturn:
letting customers decide how much they want
to pay for their meal
Canada joins
January "global automotive recession"
Auto sales in
Canada
slumped 25 percent in January from a year
earlier, industry figures showed on Tuesday,
as a worsening global economy and tight
credit conditions kept shoppers out of s...
Canada urged
to improve human rights record at U.N.
Canada
should strengthen its domestic violence laws
and stop religious discrimination against
Muslims, a U.N. body heard on Tuesday
Canada
condemns vandalism at Caracas synagogue
Canada
on Monday condemned the vandalism of the
main synagogue in Caracas, calling on the
Venezuelan government to bring its
perpetrators to justice
Canadian Football League to kick off 2009
season on Canada
Day
TORONTO - Canadian football fans will have
two reasons to celebrate
Canada
Federal budget passed
... Ignatieff's decision. "We all support
it," she said. "We are voting for this
budget because we don't want to put
Canada
at this difficult time into the throes of an
election campaign. ...
Canada?s Dollar Gains as Risk Aversion
Eases, Crude Oil Rises
Feb. 3 (Bloomberg) -- Canada?s currency
appreciated for the first time in four days
as equities and crude oil climbed, reducing
the comparative appeal of the U.S. dollar as
a haven.
Harper government survives budget vote
... the government will rack up towering
deficits of $86 billion over five years -
the first time in 13 years that
Canada
has plunged into red ink. Some economists
doubt the stimulus packa...
Canada
recession budget vote set
OTTAWA, Feb. 3 (UPI) -- Canada's Liberal
opposition leader said he will let four
unhappy members break ranks and vote against
the Conservative budget in Ottawa Tuesday
night.
Guantanamo detainees apply to
Canada
TORONTO : Three Chinese Muslim detainees
cleared for release from the U.S. military
prison in Guantanamo Bay have applied for
resettlement in Canada, lawyers for the men
and a group sponsor...
Canada a
desired location for Guantanamo Bay
detainees
Organizations and private individuals are
being urged to consider sponsoring
Guantanamo Bay detainees for resettlement in
Canada, one of the desired destinations.
Canada warns
India company over fake visas
TORONTO, Feb. 3 (UPI) -- A private airline
in India has been warned it will be banned
from flying into
Canada
because of a surge of fake passports and
visas being allowed through.
Prison guards' sick days on rise in
Canada
OTTAWA, Feb. 3 (UPI) -- The average number
of sick days taken by prison guards and
corrections officials in
Canada
has increased, documents obtained by Sun
Media indicate.
Canada wants
to improve human rights as nobody's perfect:
justice offi...
GENEVA - A Canadian official said Tuesday
Canada
has a good human rights record but there is
always room for improvement
Canada should
pursue 'Buy Canadian' strategy: Layton
Canada
should adopt a "Buy Canadian" strategy in
response to the "Buy American" clause
included in the proposed U.S. stimulus
package, NDP Leader Jack Layton urged
Tuesday.
Obama takes power, urges unity vs.
'raging storms'
WASHINGTON (AP) - Barack Hussein Obama
claimed his place in history as America's
first black president Tuesday, summoning a
dispirited and divided nation to unite in
hope against the "gathering clouds and
raging storms" of unfinished war and...
Obama's presidency crucial for
Canada
It?s not often a U.S. president can shut
down Canada?s capital by remote control, but
Barack Obama?s inauguration held Parliament
Hill captive to its television sets on
Tuesday.
Official
program for the 56th Presidential
Inauguration
WASHINGTON, DC
– January, 2009 - The Joint Congressional
Committee on Inaugural Ceremonies (JCCIC),
have announced the program for the 56th
Presidential Inauguration, which will take
place on the West Front of the U.S. Capitol
on January 20, 2009.
The program
participants were based on requests from the
President-elect and the Vice
President-elect.
The order of the
program will be as follows:
Musical Selections
The United States Marine Band
Musical
Selections
The San Francisco Boys Chorus and the San
Francisco Girls Chorus
Call to Order
and Welcoming Remarks
The Honorable Dianne Feinstein
Invocation
Dr. Rick Warren, Saddleback Church, Lake
Forest, CA
Musical
Selection
Aretha Franklin
Oath of Office
Administered to Vice President-elect Joseph
R. Biden, Jr.
By Associate Justice of the Supreme Court
The Honorable John Paul Stevens
Musical Selection, John Williams,
composer/arranger
Itzhak Perlman, Violin
Yo-Yo Ma, Cello
Gabriela Montero, Piano
Anthony McGill, Clarinet
Oath of Office
Administered to President-elect Barack H.
Obama
By the Chief Justice of the United States
The Honorable John G. Roberts, Jr.
Inaugural
Address
The President of the United States, The
Honorable Barack H. Obama
Poem
Elizabeth Alexander
Benediction
The Reverend Dr. Joseph E. Lowery
The National
Anthem
The United States Navy Band "Sea Chanters"
Obama rides the rails to DC for inaugural
kickoff photo
WASHINGTON (AP) - Invoking hope and history,
President-elect Barack Obama rolled into the
capital city Saturday night pledging to help
bring the nation "a new Declaration of
Independence" and promising to rise to the
stern challenges of the...
After years
of Bush, Arabs see hope in Obama photo
CAIRO, Egypt (AP) - An Arab news network
blared U.S. election coverage in a Cairo
hair salon, and the barbers and beauticians
watched the images of Barack Obama's victory
in amazement. Then it cut to scenes from the
latest Israeli-Palestinian...
Bush punts
unfinished Mideast peace deal to Obama
JERUSALEM (AP) - The Bush administration has
conceded that an Israeli-Palestinian peace
deal is no longer possible by the end of its
term and is preparing to hand the fragile,
unfinished U.S.-backed peace effort to
President-elect Obama. Obama...
Italian
leader: Obama 'handsome and even tanned' photo
MOSCOW (AP) - Italy's famously impolitic
Prime Minister Silvio Berlusconi described
U.S. President-elect Barack Obama on
Thursday as "young, handsome and even
tanned." Berlusconi appeared to be joking
about America's first black president at a
news...
Iran leader
offers Obama landmark congratulations photo
TEHRAN, Iran (AP) - Iranian President
Mahmoud Ahmadinejad on Thursday
congratulated Barack Obama on his election
win - the first time an Iranian leader has
offered such wishes to a U.S.
president-elect since the 1979 Islamic
Revolution. An analyst...
Obama
receives congratulations from world leaders photo
CHICAGO (AP) - President-elect Obama
accepted congratulations from nine
presidents and prime ministers Thursday,
returning calls from world leaders who
reached out after his presidential victory.
The global financial crisis was among the
topics...
Obama victory sparks cheers around the
globe photo
PARIS (AP) - Barack Obama's election as
America's first black president unleashed a
renewed love for the United States after
years of dwindling goodwill, and many said
Wednesday that U.S. voters had blazed a
trail that minorities elsewhere could...
Suddenly, it may be cool to be an
American again photo
VIENNA, Austria (AP) - She was a stranger,
and she kissed me. Just for being an
American. It happened on the bus on my way
to work Wednesday morning, a few hours after
compatriots clamoring for change swept
Barack Obama to his historic victory....
Karzai demands Obama end civilian deaths photo
WECH BAGHTU, Afghanistan (AP) - The Afghan
president congratulated Barack Obama and
called on him Wednesday to halt civilian
casualties as villagers said U.S. warplanes
bombed a wedding party, killing 37 people -
most of them children. President...
Iraq: No hasty change in US policy with
Obama win
BAGHDAD (AP) - Many in Iraq said Wednesday
they don't expect an immediate shift in U.S.
policy toward their country when Barack
Obama takes over as the new U.S. president,
despite his calls for a complete withdrawal
of U.S. troops within 16 months....
Obama faces dangerous crises from day 1 photo
LONDON (AP) - Two difficult wars in Iraq and
Afghanistan. A simmering nuclear crisis with
Iran. Renewed rivalries with Russia and
China. A global financial meltdown spawned
on Wall Street. Terrorists almost certainly
looking for ways to mount a...
Cricket
World Cup 2007 match scores
 ><>Cricket
World Cup 2007 in Antigua
 ><>
World
Cup Soccer
Facts
Former Trinidad & Tobago
Prime Minister sentenced to jail
Lara
back as West Indies captain
JAMAICA
PRESIDENTIAL ELECTION RACE 2006
2006
Canadian Election Results
CANADA'S
NEW GOVERNMENT - SPEECH
FROM THE THRONE - TURNING A NEW LEAF
·
Contact
Your
Government
·
Contact
Your
MP
 |
 |
To
the rescue
Emergency personnel rescue residents from
submerged houses in New Orleans on Monday August
29.
Photograph: James Nielsen: Getty/AFP |
In
pictures: Hurricane Katrina
Hurricane
KATRINA News and Bulletins
SOME
OF MISS UNIVERSE CONTESTANTS 2007
Antigua
Australia
Barbados
Brazil
Canada
Ecuador
Hungary
India
Jamaica
Mexico
Russia
St.
Lucia
Tanzania
USA
USVI
Miss
Universe
Link
Search
news
for
"Miss
Universe"
News
results for "Miss World"
Grammy Awards Winners List
Academy Awards Nominees
and Winners
THE POPE
UK General
Elections 2005 Dominica
2005 General Elections
West Indies vs Pakistan 2005
Series 
West Indies vs South Africa 2005
Series
Michael Jackson Exclusive
Hurricane
KATRINA News and Bulletins
Miss
World has announced members of the celebrity panel who
will be taking part in Miss World: The Final 2004. Sir
Vivian Richards, the legendary West Indian
cricketer, and celebrated Australian actress, Kate
Richie will form part of the exclusive celebrity
panel that will offer opinions on each of the girls
taking part.
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Sir Vivian Richards
© MWO
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Sir
Vivian Richards
has been described by his playing contemporary and
friend Ian Botham as 'quite simply,.. the
greatest'. In Wisden 2000, (the cricket world's
bible), he was named as one of Five Cricketers of the
Century alongside Sir Donald Bradman, Sir Jack
Hobbs, Sir Garfield Sobers and Shane Warne.
During
his International career, which spanned from 1974
until 1991 he played 121 tests (a West Indian record).
He was captain for 50 Tests presiding over the most
successful era of West Indian cricket. He scored 8450
runs in his Test career, including 24 hundreds. His
highest score was against England in 1976, when he
scored 291 runs. During his career he played for
Leeward Islands, Somerset, Queensland, Glamorgan and
the West Indies. He was born in 1952 in St John's
Antigua.
Born
in 1978 in New South Wales, Australia, Kate Richie
has become synonymous with one of Australia's longest
running shows - Home and Away. As one of only two
surviving founding cast members, Kate has
incredibly been involved with the show for nineteen
years. She is currently in the Guiness Book of Records
for being the longest serving actor on an Australian
Drama Series. Fans worldwide will have followed Kate
in her role as Sally Fletcher, from when she
joined the show as a nine year old, and watched her
graduate from high school and university, become a
teacher herself and get married (albeit only after
jilting her cheating former fiancee at the alter!) And
all before the age of twenty six!
During
her time on Home & Away, Kate has combined her
long-term role as Sally, with her education,
completing the HSC in 1997. On finishing her studies,
Kate says, 'It was hard to combine both school and
working on Home and Away, but it was something I felt
I had to do for my own self worth. I am glad I
persevered as it allows me to keep my options open for
life after Home & Away. '
Julia
Morley, Chairman of the Miss World Organisation
commented,
"
I am thrilled to announce that both Sir Vivian
Richards and Kate Richie are confirmed to
appear on our celebrity panel for the Final. They will
both be able to bring their considerable experience to
the evening, and I know the girls are looking forward
to hearing their words of wisdom".
Miss World: The Final takes place on
December 4th 2004 at the Miss World Theatre, Sanya. To
register your choice for Miss World 2004 vote now by
phone, SMS messaging and online at www.missworld.tv.
News
results for "Miss World"
In 1951 Eric Morley had been working
for the Mecca Group for almost five years. It had
been, in many ways, a tough time for everyone; the
Second World War had ended only six years previously,
but Eric had the foresight to see the new mood of
optimism that was starting to sweep the country.
At the time, he was managing the Lyceum Ballroom in
the Strand and, when it was announced that the
Festival of Britain was being held on the South Bank,
just across the Thames, he began to wonder how he
could capitalise on this huge event which was taking
place virtually on his doorstep.
He realised that the answer was simple - he would
encourage visitors to the Festival of Britain, to
cross Waterloo Bridge, by hosting a beauty contest at
his dancehall.
Not just any old beauty contest though; this
competition had to be on par with the celebrations
taking place on the South Bank and so he came up with
the ambitious idea of finding the most beautiful woman
in the world.
And so Miss World was born. A competition that has
grown into one of the world's biggest and most loved
events.
Who could have guessed that it would also become
one of the country's biggest generators of money for
children's charities? It has now raised an incredible
£100,000,000 thanks to the theme "Beauty with a
Purpose," that was created by Julia Morley 25
years ago. This incredible success is largely because
of the extremely strong and popular Miss World brand
that has developed over the last 53 years - success
that can be measured, by the fact that Miss World is
now franchised in more than 140 countries.
Cardinals
elect new
pope
April
19:
White
smoke
billowed
from the
Vatican
tonight
followed
by peals
of bells
in St
Peter's
Square -
signalling
that
cardinals
have
elected a
new pope
to replace
John Paul
II.
19.04.05,
in
pictures:
Choosing
the new
pope
Ratzinger
named as Pope
Benedict XVI
April 19:
Cardinal Joseph
Ratzinger, the
78-year-old
German bishop
closely
associated with
the papacy of
John Paul II,
was today
announced as
Benedict XVI,
the 265th leader
of the world's
1.1 billion
Roman Catholics.
19.04.05:
Reaction to the
election of Pope
Benedict XVI
19.04.05:
Full text of the
new Pope's
speech
Hurricane
KATRINA
News
and
Bulletins
England's
Ashes
parade
photos
BREAKING
NEWS:
The
Daily
Telegraph
has
today
exclusively
reported
that
Sebastian
Coe
(already
a
Lord)
is
to
be
made
a
"sir"
in
the
Queens
New
Year
Honours
list,
for
his
work
in
bringing
the
Olympic
Games
to
London
in
2012.
People
across
the
UK
who
have
made
a
difference
to
society
or
helped
out
in
difficult
situations
have
been
recognised
in
this
year's
New
Year's
Honours
list.
It
pays
tribute
to
"outstanding
achievement
and
service
right
across
the
community
and
the
nation
as
a
whole",
the
PM's
official
spokesperson
said.
The
list
is
based
on
recommendations
made
the
Prime
Minister.
Brown
appoints new Cabinet team
Cabinet
at a glance
UK TERROR THREAT
Terror
threat 'critical' as Glasgow attacked
Why
some jihadi militants can be keen to get their
retaliation in first
Terror
fugitives sought after London attacks
How
did car bombers slip through the net?
Leader:
Our democracy is the best defence against terrorism
Hassan
Butt: My plea to fellow Muslims: you must renounce
terror
Blair
launches stinging attack on 'absurd' British Islamists
'There
was a man on fire. It was terrifying'
New
face of the bomber
Tourists
face airport chaos
A
wisp of smoke - and lethal device was spotted
Bomb
alerts and travel chaos fail to deter West End
revellers
Favoured
tool of Iraqi insurgents, Kashmir separatists - and
al-Qaida
New
home secretary thrust into centre of the storm
Car
bombs come to London
By air, boat and truck, search on for Ike victims photo
HOUSTON (AP) - Rescuers in boats, helicopters and high-water trucks set out across the flood-stricken Texas coast Saturday in a monumental effort to reach tens of thousands of people who stubbornly ignored warnings of "certain death" and tried...
Pope
Benedict Makes Visit to Birthplace photo
MARKTL AM INN, Germany (AP) - Pope Benedict XVI spent
a sentimental day in his Bavarian homecoming Monday,
visiting the town where he was born, the church where
he was baptized and his favorite pilgrimage site. He
was also reunited with his...
Pope
Urges
Renewed
Respect
for
All
Life photo
VATICAN
CITY
(AP)
-
In
a
strong
condemnation
of
abortion,
Pope
Benedict
XVI
on
Sunday
urged
the
faithful
to
develop
a
new
respect
for
life
even
when
it
is
"sick
or
damaged."
Marking
the
Italian
Catholic
Church's
"Day
for
Life,"
Benedict
stressed...
WorldCom's
Ebbers
Gets
25
Years,
Weeps photo
NEW
YORK
(AP)
-
Weeping
in
court
as
he
learned
his
fate,
former
WorldCom
boss
Bernard
Ebbers
was
sentenced
to
25
years
in
prison
Wednesday
for
leading
the
largest
corporate
fraud
in
U.S.
history.
It
was
the
toughest
sentence
imposed
on
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Michael
Jackson
Exclusive
Billy
Graham says goodbye Evangelist attends last
U.S. revival.
Hurricane Katrina
specials and updates
In
pictures: Hurricane Katrina
BBC
and No 10 try to gloss over Murdoch indiscretion
September 19: The BBC and Downing Street were
striving yesterday to avoid reopening old wounds after
Rupert Murdoch said the prime minister had criticised
the corporation's coverage of Hurricane Katrina as
'full of hatred for America and gloating'.
Blair
attacks BBC for 'anti-US bias'
September 18: Tony Blair has denounced the
BBC's coverage of Hurricane Katrina as 'full of hatred
of America' and 'gloating' at the country's plight, it
was reported yesterday.
Cheney:
We will rebuild
Vice-president promises to repair hurricane disaster
zone.
Newsblog:
They lied to us
Newsblog:
Scammers cash in
Storm
water for sale on eBay
New
Orleans water highly toxic
In
pictures: Hurricane Katrina
Special
report: Hurricane Katrina
Refugees
turn little neighbour into big boomtown
Housing and hotel trade rockets in Baton Rouge.
John
Wayne dude gets things done
Interactive:
Hurricane Katrina
Special
report: Hurricane Katrina
| |
US
news from AP - September 7, 2005
|
| |
US
news from AP - September 5, 2005
|
Clinton
and Bush Snr to lead aid appeal
Hurricane Katrina: Former presidents to lead
und-raising campaign for huge humanitarian effort.
Amid
stench of death, poor bear brunt
'Witch's
brew' swills through city
New
Orleans counts the cost
Cartoon:
Steve Bell
Special
report: Hurricane Katrina
Stranded
The Justice Center in New Orleans campaigned for death
row inmates . Now it has been destroyed by Katrina.
Petrol
to hit £1 a litre after US buys up supplies
Motorists warned petrol prices seem certain to pass
£1 a litre after Katrina wiped out many Mexican Gulf
oil refineries.
Special
report: oil and petrol
| |
US
news from AP - September 2, 2005
|
Death
toll rises amid the devastation
August 31: The death toll from Hurricane
Katrina was expected to soar above 100 as more bodies
washed up in US Gulf coast cities yesterday in one of
the worst natural disasters America has faced in
decades.
For
many, misery starts in Katrina's wake
August 31: Levee breaks, bringing more death to
New Orleans.
$26bn
and counting: insurers face one of their biggest
payouts
August 31: Insurance groups worldwide were
yesterday facing the prospect of multibillion-dollar
claims in the wake of Hurricane Katrina.
Oil
hits fresh high as Katrina wreaks havoc
August 31: Traders panic in London and New York
after hurricane shuts rigs and refineries across the
Gulf of Mexico.
US
poverty figure rises for 4th year
August 31: The number of Americans living below
the poverty line rose for the fourth successive year
during 2004, extending the gap between rich and poor
in the world's wealthiest nation.
Bush
is the real threat
August 31, Tony Benn: Now that the US president
has announced that he has not ruled out an attack on
Iran, if it does not abandon its nuclear programme,
the Middle East faces a crisis that could dwarf even
the dangers arising from the war in Iraq.
Ted
Radcliffe
August 31, obituary: A key figure in the
segregated Negro League baseball of 1930s and 40s
America.
Hurricane Katrina
Insurers
count the cost of Katrina
August 30: Hurricane Katrina will be the
costliest single event for insurers since the
September 11 attacks, companies predicted today.
Newsblog:
'This is the real deal'
30.08.05:
Katrina death toll 'rises to 80'
30.08.05:
Fears of flash floods
30.08.05:
'The whole damn city is under water'
30.08.05:
High winds bring threat of 'storm surge' waves
30.08.05:
Oil prices close to record as Katrina shuts down
production
Hurricane
lashes New Orleans
August 29: One of the most powerful hurricanes
to hit the US in living memory was today over New
Orleans as forecasters and and emegency services
warned that gusts of up to 125mph and possible 15ft
storm surges could leave the city devastated.
29.08.05:
New Orleans orders 3m to flee as hurricane nears
29.08.05,
in pictures: Hurricane Katrina
Interactive
guide: hurricanes explained
Civil
Rights Pioneer Rosa Parks, 92, Dies
Martin
Luther King Biography
MLK
Photo Gallery
I
Have A Dream - The Speech
Click here for World
Cup Soccer 2006
Obama takes blame in
Daschle, Killefer controversy photo
WASHINGTON (AP) - Barack Obama on Tuesday abruptly
abandoned his nomination fight for Tom Daschle and a
second major appointee who failed to pay all their
taxes, fearing a lingering ethics dispute would
undercut his claims to moral high ground...
Senate votes to give
a tax break to new car buyers photo
WASHINGTON (AP) - The Senate voted Tuesday to give a
tax break to new car buyers, setting aside
bipartisan concerns over the size of an economic
stimulus bill with a price tag approaching $900
billion. The 71-26 vote came as President Barack...
Obama administration
to issue executive pay limits photo
WASHINGTON (AP) - The Obama administration plans to
mandate new executive pay limits on Wednesday for
government-assisted financial institutions in a new
get-tough approach to bankers and Wall Street. "If
the taxpayers are helping you, then...
Phoenix confirms
he's walking the hip-hop line photo
LOS ANGELES (AP) - Joaquin Phoenix says there's no
hoax about it: He really has given up acting to
become a hip-hop musician. Phoenix has been spending
his time laying down tracks for a rap album in the
recording studio he built at his home, the...
Bill would require
paid Confederate holiday in SC
COLUMBIA, S.C. (AP) - A black state senator is
pushing a bill that would require South Carolina
cities and counties to give their workers a paid day
off for Confederate Memorial Day or lose millions in
state funds. Democratic Sen. Robert Ford's...
Octuplets mom is not
getting showered with gifts photo
LOS ANGELES (AP) - Where is the lifetime supply of
diapers, formula and baby wipes? The free van? The
brand-new house? Women who give birth to six, seven
or eight babies are often showered with dazzling
gifts from big corporations, local
Phelps Could Face
Criminal Drug Charges
COLUMBIA, S.C. (AP) -Olympic superstar Michael
Phelps could face criminal charges as part of the
fallout from a photo that surfaced showing the
swimmer smoking from a marijuana pipe at a
University of South Carolina house party. A
spokesman for
Raiders Keep Cable
as Head Coach
OAKLAND, Calif. (AP) -The Oakland Raiders are
retaining head coach Tom Cable, officially removing
the interim designation from his title more than
five weeks after their season ended. Cable went 4-8
after replacing Lane Kiffin with the Raiders...
Dodgers Still Want
Manny After Rejection
LOS ANGELES (AP) -The Dodgers are still trying to
bring back Manny Ramirez. Only the enigmatic slugger
doesn't like their latest deal. He rejected their
third offer - for one year - that would have made
him baseball's second-highest paid player...
Motorola's woes pile
up in $3.6B quarterly loss photo
NEW YORK (AP) - Already hemorrhaging money, Motorola
Inc. had more bad news for investors Tuesday,
causing analysts to wonder: Where does it end? North
America's largest maker of telecommunications
equipment posted a massive fourth-quarter loss...
Analyst estimates
Amazon sold 500K Kindles in 2008
NEW YORK (AP) - Amazon.com has kept its Kindle
electronic book reader shrouded in some mystery. The
online retailer has said the device is out of stock,
but it hasn't said how many were sold. On Tuesday,
Citi Investment Research analyst Mark
Microsoft
streamlines Windows 7 options
SEATTLE (AP) - Microsoft Corp. on Tuesday said it
will heavily promote two main versions of the next
Windows operating system in an attempt to avoid the
problems it faced by marketing four tiers of the
Windows Vista system. But while the...
Man wearing sleeping
bag as cape attempts robbery
GAINESVILLE, Fla. (AP) - Authorities said a man
wearing a sleeping bag as a cape and carrying a
screwdriver as a weapon tried to rob someone in the
parking lot of a Gainesville business. Police said a
46-year-old man approached the intended...
Honest cabbie
returns bag with rings, Rolex
ATLANTA (AP) - A 64-year-old Atlanta taxi driver has
a simple explanation of why he returned a bag
containing items worth thousands of dollars to a
Florida woman, saying, "It wasn't mine." Miki Cooper
of Naples, Fla., was in Atlanta during the
Man celebrates
birthday with 24-hour treadmill run
BROOKLYN CENTER, Minn. (AP) - A Twin Cities man was
looking for a challenge, so he decided to celebrate
his 30th birthday by running on a treadmill for 24
hours straight. B.J. Van Beusekom covered about 80
miles before he stopped running at noon...
Obama takes power,
urges unity vs. 'raging storms'
WASHINGTON (AP) - Before a jubilant crowd of more
than a million, Barack Hussein Obama claimed his
place in history as America's first black president,
summoning a dispirited nation to unite in hope
against the "gathering clouds and raging...
Bush tells cheering
Texans 'it is good to be home'
MIDLAND, Texas (AP) - Waving cardboard red, white
and blue "W"s, thousands welcomed George W. Bush and
his wife on Tuesday to their post-presidential home
in Texas. "The presidency was a joyous experience,
but as great as it was, nothing...
Sen. Kennedy OK
after seizure at Obama's luncheon
WASHINGTON (AP) - Sen. Edward M. Kennedy, ill with a
brain tumor, was hospitalized Tuesday but quickly
reported feeling well after suffering a seizure at a
post-inauguration luncheon for President Barack
Obama. "After testing, we believe the...
Obama rides the
rails to DC for inaugural kickoff
WASHINGTON (AP) - Invoking hope and history,
President-elect Barack Obama rolled into the capital
city Saturday night pledging to help bring the
nation "a new Declaration of Independence" and
promising to rise to the stern challenges of the...
Senate Dems retreat
on Burris; Obama steps in photo
WASHINGTON (AP) - Senate Democrats beat a hasty
retreat Wednesday from their rejection of Roland
Burris as President-elect Barack Obama's successor,
yielding to pressure from Obama himself and from
senators irked that the standoff was draining...
Obama hails
'extraordinary' moment with presidents photo
WASHINGTON (AP) - Confronting a grim economy and a
Middle East on fire, Barack Obama turned Wednesday
to perhaps the only people on the planet who
understand what he's in for: the four living members
of the U.S. presidents' club. In an image bound...
Obama taps spending
watchdog, eyes Social Security photo
WASHINGTON (AP) - Pointing with concern to "red ink
as far as the eye can see," President-elect Barack
Obama pledged Wednesday to tackle out-of-control
Social Security and Medicare spending and named a
special watchdog to clamp down on other...
Senate Democrats
yield to Obama, retreat on Burris photo
WASHINGTON (AP) - Senate Democrats beat a hasty
retreat Wednesday from their rejection of Roland
Burris as President-elect Barack Obama's successor,
yielding to pressure from Obama himself and from
senators irked that the standoff was draining...
Defiant Ill.
governor fills Obama's Senate seat photo
CHICAGO (AP) - A defiant Gov. Rod Blagojevich on
Tuesday named a black political trailblazer to
Barack Obama's Senate seat, a surprise move that put
the governor's opponents in the uncomfortable
position of trying to block his choice from...
Warren's
inauguration prayer could draw more ire photo
President-elect Barack Obama's choice of Rick Warren
to deliver the inaugural invocation drew one kind of
protest. Whether the evangelical pastor offers the
prayer in the name of Jesus may draw another. At
George W. Bush's 2001 swearing-in, the...
Obama: Blagojevich
appointee shouldn't be seated photo
WASHINGTON (AP) - President-elect Barack Obama waded
into a racially tinged dispute Tuesday over who
would replace him as the only black senator, siding
forcefully with Senate Democrats in rejecting the
respected African-American chosen by...
Obama online
supporters key to pushing his agenda photo
HONOLULU (AP) - President-elect Barack Obama's top
asset in pushing his agenda will not be his Cabinet
secretaries or aides, but rather his online network.
Obama's political e-mail list tops 13 million names,
a digital force that the incoming...
Obama, 2 aides met
with Blagojevich investigators photo
WASHINGTON (AP) - President-elect Barack Obama and
two of his top aides met last week with federal
investigators building a corruption case against
Illinois Gov. Rod Blagojevich, accused of trying to
swap Obama's Senate seat for cash or a...
Gay-rights leaders'
enthusiasm for Obama subsides photo
NEW YORK (AP) - Gay-rights activists remain hopeful
about the Obama presidency but are now more wary
after what one called a "double punch to the gut" -
the choice of a pastor they consider hostile for a
prime inauguration role and dashed hopes...
Automakers grab
loans, look to Obama White House
WASHINGTON (AP) - The long-term fate of the auto
industry rests with Barack Obama now that President
George W. Bush has given car companies $17.4 billion
in emergency rescue loans. Simply letting the Big
Three collapse was not an option amid a...
Obama: Probe shows
no contact in Ill. gov scandal photo
CHICAGO (AP) - President-elect Barack Obama said
Monday a review by his own lawyer shows he had no
direct contact with Illinois Gov. Rod Blagojevich
about the appointment of a Senate replacement, and
transition aides did nothing inappropriate....
Panel urges Obama to
consider hacker-response plan
WASHINGTON (AP) - President-elect Barack Obama
should create a new White House office to protect
cyberspace from hackers, thieves and foreign agents,
coordinating security efforts across U.S. military,
intelligence and civilian agencies,...
Obama, McCain bury
sour campaign, vow cooperation
CHICAGO (AP) - No longer foes but not yet allies,
President-elect Barack Obama and John McCain buried
their bitter campaign in public smiles and searched
for common ground in private on Monday, discussing
possible collaboration on climate...
Obama advisers: No
charges likely vs interrogators
WASHINGTON (AP) - Barack Obama's incoming
administration is unlikely to bring criminal charges
against government officials who authorized or
engaged in harsh interrogations of suspected
terrorists during the George W. Bush presidency.
Obama,...
Obama's church
choice likely to be scrutinized photo
Churches in the nation's capital have started
extending invitations to President-elect Barack
Obama and his family, touting their African-American
roots, their ties to presidents past and to Obama
himself. The choices are abundant. Numerous,...
Sex, lies and
scandal: Obama aide has seen it all photo
WASHINGTON (AP) - John Podesta, a leader of
President-elect Barack Obama's transition team, was
the Clinton administration official who worked to
douse scandals, outmaneuver Republicans and keep
Bill Clinton popular even through impeachment.
He's...
Obama staff combines
DC with Chicago photo
WASHINGTON (AP) - President-elect Barack Obama is
forming a White House leadership team that combines
experienced Washington insiders who can help build a
bridge with Congress and trusted associates who
share his Chicago roots. The West Wing...
Security, economy
are priorities, Obama tells CBS
WASHINGTON (AP) - President-elect Barack Obama said
in an interview broadcast Sunday that since
terrorists might try to attack the U.S. during the
White House transition, selecting his national
security team is one of his top priorities. "I
think...
Obamas won't get
puppy before White House move
WASHINGTON (AP) - Malia and Sasha Obama will have to
wait at least two more months for that puppy their
dad promised them. President-elect Barack Obama said
on Election Night that he had promised his young
daughters that they could get a dog once...
Financial overhaul
added to Obama's to-do list photo
WASHINGTON (AP) - Barack Obama isn't president yet,
but his must-do list just got longer. The newest
addition to the lengthy list of tasks after taking
office: helping oversee the overhaul of the world's
financial regulatory system. That is one of...
Clinton as top US
diplomat? OK by top GOP senator photo
WASHINGTON (AP) - The Senate's second-ranking
Republican says it wouldn't be a bad idea if
President-elect Barack Obama named Hillary Rodham
Clinton as secretary of state. "It seems to me she's
got the experience. She's got the temperament for
it....
First in line no
guarantee for inaugural tickets photo
WASHINGTON (AP) - So your member of Congress has
declared a first-come, first-served policy on
handing out hard-to-get tickets to Barack Obama's
presidential swearing-in. Sounds fair enough. But in
a town where "yes" can mean "no" and the...
Obama's choice of
Emanuel shows switch in tone photo
CHICAGO (AP) - Barack Obama is signaling a shift in
tactics and temperament as he moves from candidate
to president-elect, picking sharp-elbowed Washington
insiders for top posts. His choice Thursday for
White House chief of staff - Rahm Emanuel,...
Reid looking to
remove Lieberman as committee head photo
WASHINGTON (AP) - Sen. Joe Lieberman's affiliation
with Democrats was in question after a meeting
Thursday with Majority Leader Harry Reid, steamed
over the Connecticut independent's high-profile
support of John McCain for president. Reid, in a...
Palin lays low as
interview requests pile up photo
ANCHORAGE, Alaska (AP) - Gov. Sarah Palin hadn't
been back home in Alaska for a full day and her
staff had begun fielding requests Thursday for
postelection interviews, including from Barbara
Walters, Oprah Winfrey, Larry King and others. Palin
had...
Obama's former
pastor says media exploited him photo
MILFORD, Conn. (AP) - Barack Obama's former pastor
complained Thursday that the media used him as a
"weapon of mass destruction" in an attempt to derail
Obama's campaign for the presidency. Speaking at a
forum about race and religion, the Rev....
Illinois banks on
Obama buzz to boost tourism photo
CHICAGO (AP) - Chicago's tourism Web site beckons
visitors to "experience the city the Obamas enjoy."
The Illinois Bureau of Tourism plans to launch a
three-day getaway promotion featuring Barack Obama
sites. And tour guides at the Old State...
Obama picks Clinton alum Emanuel chief of WH
staff photo
WASHINGTON (AP) - President-elect Barack Obama
pivoted quickly to begin filling out his new
administration on Wednesday, selecting hard-charging
Illinois Rep. Rahm Emanuel as White House chief of
staff while aides stepped up the pace of...
Great expectations: Obama will have to deliver photo
WASHINGTON (AP) - Over and over, Barack Obama told
voters if they stuck with him "we will change this
country and change the world." They did, and now
their expectations for him to deliver are firmly
planted on his shoulders. Many supporters...
Obama's victory met with tears and traffic jams photo
Crowds danced in the streets, wept, lifted their
voices in prayer and brought traffic to a
standstill. From the nation's capital to Atlanta to
Los Angeles, Americans celebrated Barack Obama's
victory and marveled that they lived to see the
day...
This time, election system worked. But why? photo
After all that fuss, the system worked. There was no
meltdown, no flurry of lawsuits, no statewide
demands for a presidential recount. So does that
mean America's voting machinery is finally fixed?
And why did it work so well under...
McCain starts mapping out a new role in the
Senate photo
PHOENIX (AP) - Before resting from the grueling
presidential race, John McCain began discussing with
senior aides what role he will play in the Senate
now that he has promised to work with the man who
defeated him for president. One obvious focus...
106-year-old Atlanta woman basks in Obama tribute photo
ATLANTA (AP) - At age 106, Ann Nixon Cooper doesn't
usually stay awake past midnight. But on Election
Night she had special reason to do so: She was
waiting for Barack Obama to mention her name.
Cooper, one of the oldest voters for the nation's...
Victorious Democrats shoot for the middle
WASHINGTON (AP) - They captured the White House
under a mantra of "change" and scored big House and
Senate gains promising a "new direction." Now
Democrats have to figure out how to fulfill those
lofty promises without alienating the very people...
GOP in tatters, looks to regroup
WASHINGTON (AP) - So much for a lasting Republican
majority. The Republican Party is essentially in
tatters, and not that long after President Bush's
2000 election spurred talk of enduring GOP
dominance. John McCain's shellacking, along with
recent...
Democrats in Congress wary of overreaching photo
WASHINGTON (AP) - President-elect Barack Obama is
facing a Congress with bulked-up Democratic
majorities in both the House and Senate to put much
of his agenda into law. Obama will inherit a
Congress with Democratic House and Senate
majorities...
New Congress turns more -- much more --
Democratic photo
WASHINGTON (AP) - Democrats broadened their control
of Congress, though in the Senate they fell short of
the 60 votes needed for a filibuster-proof majority
that would have given them almost unbridled power
over legislation. Voters ousted Senate...
Democrats gain in Dixie, but racial divide
remains photo
WAKE FOREST, N.C. (AP) - Barack Obama hardly marched
across the South like Sherman. But he certainly made
some inroads. The Illinois Democrat failed to win a
majority of white votes in any Southern state, and
exit polls indicate that a deeper...
Minorities, single women, young whites back Obama
WASHINGTON (AP) - Barack Obama's formula for victory
included a coalition of unmarried women, minorities
and young whites and coaxing more votes from them
than Democrats did in their 2004 presidential
defeat, according to national exit polls of...
McCain wins Georgia; Senate race heads to runoff
WASHINGTON (AP) - John McCain has won Georgia's 15
electoral votes, keeping the state in the GOP column
for the fourth consecutive presidential election.
Because of an unexpected low turnout in the Atlanta
area, The Associated Press waited past...
On the day after The Day, hope, relief and anger photo
On the day after The Day, there was hope, no longer
a mere election-year cliche but a sense of something
lasting and real. For a black man in a Washington,
D.C., barbershop who feels "it" has actually
happened; for the tribal leader in New Mexico...
Dems, GOP, already targeting 2010 gov races photo
Their majority of gubernatorial seats larger by one,
Democrats are taking aim at key states in 2010,
including California, Minnesota and Connecticut.
Republicans, who successfully re-elected four
incumbents on an election night of big GOP losses...
Obama results show gains in key religious voters
In building a winning coalition of religious voters,
Barack Obama cut into the so-called God gap that
puts frequent worshippers in the Republican column,
won Catholics, made inroads with younger
evangelicals, and racked up huge numbers with...
Yes They Can: Change sweeps through legislatures photo
Change swept through state legislatures as well as
the campaign for presidency this year, with the
biggest upset being the end of 40 years of GOP rule
in the New York state Senate that put Democrats in
charge of the entire legislature. Change also...
Location, location, location - and broadband photo
Adam and Anita Paulk had a nice home outside Temple,
Texas, with a big yard and a 10-minute commute to
his job. But in Internet terms, the house was on
Slow Lane. There was no high-speed Internet
connection available. So the Paulks pulled up...
Citigroup
to pay $2 bln in Enron lawsuit
Citigroup Inc. said on Friday it will pay $2 billion
to Enron Corp. investors who accused it of helping the
energy trader in a massive accounting fraud, a move
that cleans up one of the bank's top legal problems
and could pressure others to settle
SEC
wants merger info on Molson Coors
Federal securities regulators have asked Molson Coors
Brewing Co. for information about its quarterly
results and the recent merger of Molson and Coors, the
company said on Thursday.
Molson Coors, the world's fifth-largest brewer by...
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West
Indies beat
England
to
win
the ICC
Championship
Trophy
England
v W
Indies,
Champions
Trophy
final,
The
Oval
Browne
and
Bradshaw
steal
a
thriller
The
West
Indies
tail
pulled
off
a
remarkable
victory
in
the
gloom
at
The
Oval,
with
Courtney
Browne
and
Ian
Bradshaw
snatching
a
win
from
under
England’s
noses
with
a
record
ninth
wicket
partnership
of
71.
West
Indies
were
dead
and
buried
at
147
for
8
before
Browne
and
Bradshaw
joined
each
other
at
the
crease,
but
slowly
they
edged
towards
England’s
total
of
217,
and
sealed
a
stunning
with
two
fours
in
the
penultimate
over
of
the
game.
Earlier,
Marcus
Trescothick
carried
England's
batting
with
his
eighth
one-day
hundred
to
set
up
what,
for
most
of
the
West
Indies
innings,
looked
like
a
winning
total.
Windies
'miracle' stuns England
Photos
from the Champs Trophy final
Photos
of WI v Pak from The Rose Bowl
Big
hitters and mean men
Cricket-Lara
fastest to 10,000 Test runs
Skipper
Lara not consoled by record
Lara
first among 10,000 legends
England
win series in style
Lara
joins 10,000 club
West
Indies honour legends
Worrell
a man for all seasons
James
Mossop: Holding's chilling verdict
Cricket-Test
teams meet Queen
Factfile:
England v West Indies
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GHANA
Flag of
Kenya
DESCRIPTION
The Kenya flag was officially adopted on December 12, 1963. The
black is said to represent the Kenyan people; red symbolizes the
blood they spilled fighting colonialism; green the country's
landscape and white means peace.
The traditional African shield is centered.
Quick Facts
Noted
worldwide for its abundant wildlife, Kenya is a popular stop for
tourists, especially those interested in exotic animal safaris.
 At one time is
was controlled by the Arabs, seized by the Portuguese, explored
by whomever, eventually leased to the British East Africa
Company, and then finally gaining its independence from Great
Britain in 1963.
The long term
impact of severe droughts, and the greatly increased population
are major concerns.
Facts
and Figures
Official Name
Republic of Kenya
Capital City
Nairobi
Languages Swahili (official), English (official), others
Official Currency Kenya Shilling
Religions Protestant, Catholic, traditional beliefs
Population 34,707.324
Land Area 566,970 sq km (218,907 sq miles)
Highest Point Mt. Kenya (5,199 meters), first climbed in
1899 by English geographer, Sir Halford MacKinder
Climate
Kenya's varied environments experience a wide variety of climate
conditions, but the temperature remains comfortably warm
year-round. Much of Kenya experiences heavy rainfall from March
through May and, to a lesser extent, from October through
December. The best time for most outdoor acitivities is during
the dry season (June-September).
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2008 Atlantic Hufricane Names
Arthur
Bertha
Cristobal
Dolly
Edouard
Fay
Gustav
Hanna
Ike
Josephine
Kyle
Laura
Marco
Nana
Omar
Paloma
Rene
Sally
Teddy
Vicky
Wilfred
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The layman's finance crisis glossary
The current financial crisis has thrown terminology from the
business pages onto the front page of newspapers, with jargon now
abounding everywhere from the water cooler to the back of a taxi.
Here is a guide to many of the business terms currently cropping up
regularly, as well as some of the more exotic words coined to
describe some of the social effects of the credit crunch.
Readers can send any terms they need explaining using the form at
the bottom.
A-C
Administration
A rescue mechanism for UK companies in severe trouble. It allows
them to continue as a going concern, under supervision, effectively
to try to trade out of difficulty.
A firm in administration cannot be wound up without permission from
a court.
Bear market
In a bear market, prices are falling and investors, anticipating
losses, tend to sell. This can create a self-sustaining downward
spiral.
Bond
A debt security, or, more simply an IOU. The bond states when a
loan must be repaid and what interest the borrower (issuer) must pay
to the holder. Banks and
investors buy and trade bonds.
Bull market
A bull market is one in which prices are generally rising and
investor confidence is high.
Chapter 11
The term for bankruptcy protection in the US. It
postpones a company's obligations to its creditors, giving it time
to reorganise its debts or sell parts of the business, for example.
Commodities
Commodities are products that, in their basic form, are all the same
so it makes little difference from whom you buy them.
That means that they have a market price. You would be unlikely to
pay more for iron ore from a particular mine, for example.
Credit crunch
The situation created when banks hugely reduced their lending to
each other because they were uncertain about how much money they
had.
This in turn resulted in more expensive loans and mortgages for
ordinary people.
Credit default swap
A swap designed to transfer credit risk. The buyer of the swap makes
periodic payments to the seller in return for protection in the
event of a default.
A bank which owns a lot of mortgage debt could swap it, but would
have to make a pay-out if those mortgages were not repaid.
D-F
Derivatives
Derivatives are a way of investing in a particular product or
security without having to own it. The value can depend on anything
from the price of coffee to interest rates or what the weather is
like.
Derivatives can be used as insurance to limit the risk of a
particular investment.
Credit derivatives
are based on the risk of borrowers defaulting on their loans, such
as mortgages.
Equity
In a business, equity is how much all of the shares put together are
worth.
In a house, your equity is the amount your house is worth minus the
amount of mortgage debt that is outstanding on it.
Fakeaway
A home-made, belt-tightening version of a takeaway - think, a curry
made with a jar of sauce, bag of rice and a packet of poppadoms from
the supermarket.
Futures
A futures contract is an agreement to buy or sell a commodity at a
predetermined date and price. It could be used to hedge or to
speculate on the price of the commodity.
H-K
Hedge fund
A private investment fund with a large unregulated pool of capital
and very experienced investors.
Hedge funds use a range of sophisticated strategies to maximise
returns - including hedging, leveraging and derivatives trading.
Hedging
Making an investment to reduce the risk of price fluctuations, to
the value of an asset.
For example, if you owned a stock and then sold a futures contract
agreeing to sell your stock on a particular date at a set price. A
fall in price would not harm you - but nor would you benefit from
any rise.
Hypermiling
Techniques used by drivers to get more miles to the gallon, such as
coasting in neutral and keeping tyre pressure high.
Investment bank
Investment banks provide financial services for governments,
companies or extremely rich individuals. They differ from
commercial banks where you have your savings or your mortgage.
L-P
Leveraging
Leveraging, or gearing, means using debt to supplement
investment.
The more you borrow on top of the funds (or equity) you
already have, the more highly leveraged you are. Leveraging can
maximise both gains and losses.
Deleveraging
means reducing the amount you are borrowing.
Libor
London Inter Bank Offered Rate. The rate at which banks lend
money to each other.
Liquidity
The liquidity of something is how easy it is to convert it into
cash. Your current account, for example, is more liquid than your
house.
If you needed to sell your house quickly to pay bills you would have
drop the price substantially to get a sale.
Loans to deposit ratio
For financial institutions, the sum of their loans divided by the
sum of their deposits.
Currently important because using other sources to fund lending is
getting more expensive.
Mark-to-market
Recording the value of an asset on a daily basis, according to
current market prices.
So for a futures contract, what it would be worth if realised today
rather than at the specified future date. Also marked-to-market.
Negative equity
Refers to a situation in which the value of your house is below the
amount of the mortgage that still has to be paid off.
Profit warning
When a company issues a statement indicating that its profits will
not be as high as it had expected. Also profits warning.
R-T
Rating
Bonds are rated according to their safety from an investment
standpoint - based on the ability of the company or government that
has issued it to repay.
Ratings range from AAA, the safest, down to D, a company that has
already defaulted.
Recessionista
A person who manages to look fashionable on a tight budget.
Securitisation
Turning something into a security. For example, taking the
debt from a number of mortgages and combining them to make a
financial product which can then be traded.
Banks who buy these securities receive income when the original
home-buyers make their mortgage payments.
Security
Essentially, it is a contract that can be assigned a value and
traded. It could be a stock, bond or mortgage debt, for example.
Short selling
A technique used by investors who think the price of an asset, such
as shares, currencies or oil contracts, will fall. They borrow the
asset from another investor and then sell it in the relevant market.
The aim is to buy back the asset at a lower price and return it to
its owner, pocketing the difference. Also shorting.
Spiv
A term popularised in World War II for flashily-dressed chancers
involved in black market dealings. A fictional spiv is ladies' man
Private Joe Walker in Dad's Army.
Newspaper headline writers use "spiv" as shorthand for traders who
play for high stakes.
Stagflation
The dreaded combination of inflation and stagnation - an economy
that does not growing while prices continue to rise.
Staycation
Staying at home for your holiday in a bid to save money.
Sub-prime mortgages
These carry a higher risk to the lender (and therefore tend to be at
higher interest rates) because they are offered to people who have
had financial problems or who have low or unpredictable incomes.
Swap
An exchange of securities between two parties. For example, if a
firm in one country has |
