Best Home Equity Interest Rate

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Aug. 3, 2007) - Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS - News), reported net earnings applicable to common shares of $41.5 million, or $0.31 per common share, for the second quarter of 2007 compared to earnings of $37.9 million, or $0.37 per common share, for the same quarter last year. Year-to-date earnings applicable to common shares were $83.0 million, or $0.69 per common share, compared to earnings of $74.5 million, or $0.72 per common share, for the same period last year.

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Cannabis confessions and a Home Secretary called 'Spliff'

FIRST it was Jacqui. Then Tony. We had Ruth and Alistair. And let's not forget Hazel, Yvette, Andy, Vernon and John.

Transcript: Bank of England Inflation Report Press Conference

Mervyn King, Bank of England governor, Charlie Bean, chief economist and Paul Tucker, executive director for markets, answered journalists' questions in the Bank at the launch of its quarterly Inflation Report on August 8, 2007. This is an FT unabridged transcript edited for clarity.

Instant Insight: Federal Reserve Leaves Rates Unchanged, Remains Hawkish

The Federal Reserve left interest rates unchanged at 5.25 percent for the ninth meeting in a row but the statement was as hawkish as the markets could have hoped for. Even though Fed Fund futures have been pricing in a 100 percent chance of a rate cut by Christmas, no one expected that cut to happen now. Instead, the market?s main focus continues to be on the FOMC statement. Given the recent deterioration in credit conditions, the Fed had no choice but to acknowledge that volatility has increased and "credit conditions have become tighter."

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Sensex plunges 4% on credit concerns

MUMBAI: Indian share prices plunged 4 % yesterday on higher cash reserve amounts for banks and fears that overseas funds may exit emerging markets over US credit woes, dealers said.
They said that overseas funds led the sell-off sparked by heavy losses on Wall Street after further problems in the US home loan market while Indian banks were hurt by Tuesday�s increase in their cash reserve requirement.
The Bombay Stock Exchange�s benchmark 30-share Sensex index closed down 615.22 points to 14,935.77.
�There are risk-linked concerns across the global markets. The US subprime loan issue could take weeks to clear so the near term scenario appears weak,� said Ved Prakash Chaturvedi, managing director of Tata Mutual fund.
On Tuesday, the Reserve Bank of India (RBI) hiked the amount of deposits banks must set aside by 50 basis points to 7% in an effort to cut the amount of money available for loans sought by consumers and businesses.

Corp debt: Indian Cos face rough weather

Turmoil in the global financial markets is finding its way home. Indian companies looking to raise money in the international debt markets are finding themselves with few willing investors.

Close to $6 billion worth of Indian debt is currently being offered in the market and bankers have told NDTV that potential investors are few and far between.

Issues which are having trouble finding buyers include $2.8 billion loan issue from the AV Birla Group to finance the Novelis acquisition, $1.5-2 billion FCCB issue from Chennai based GSM operator Aircel, a $200 million FCCB from Amtek Auto and $175 million issue from Mercator lines.

While most of the companies say fund raising plans remain unchanged, their bankers are advising them to hold off on international fund raising till the dust settles or move part of the fund raising to domestic shores.

Gov. Eliot Spitzer: The Need for Both Passion and Humility in Politics

In time, without a greater amount of humility, great power will not simply cause us to make mistakes. It will be our undoing.

As Niebuhr wrote, "If we should perish, the ruthlessness of the foe would be only the secondary cause of the disaster. The primary cause would be that the strength of a giant nation was directed by eyes too blind to see all the hazards of the struggle; and the blindness would be induced not by some accident of nature or history but by hatred and vainglory."

To quote an old saying: "Hubris is terminal."

Going forward in our foreign policy, we must balance power and strength with some humility. That does not mean that we don't fight power with power. But it does mean that when we do, we realize that we cannot possibly anticipate every outcome, so we plan an exit strategy; that our power alone is not always enough to overcome every enemy, so we build alliances; that, as circumstances change, our current path may not always be the most effective, so we must be we willing to admit mistakes and adapt; and that - even if the danger is so clear and present now - there will one day be a time when our war is over, so we have to look beyond near-term victory as the only end in sight.