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...cost of insuring against a default by Dubai jumped and the dollar strengthened as investors rushed back into greenbacks. On Friday afternoon, stock markets made something of a recovery as analysts took a second look at what Dubai's proposed repayment halt means. Eighty billion dollars - Dubai's total liabilities - may sound like a lot of money but in the context of the past year, it's not huge. And while banks like HSBC and Barclays have billions in exposure to Dubai, they are also better capitalized than they were a year ago, and thus more able to withstand hits...
...final tally indicates sales surpassed last year's numbers, it's not necessarily clear sailing for retailers through the holiday season. The average shopper spent $372 over the Black Friday weekend last year, which was up from $347 the previous year, says Grannis. Yet, holiday sales, which tracks total sales through November and December, fell 3.4% - the first decline since the NRF started tracking sales in the mid-1990s, she says...
...Harvard, much of the second half was devoted to the freshmen. Webster and fellow freshmen Brandyn Curry, Dee Giger, Kyle Casey, Jeff Georgatos, and Peter Edelson all saw playing time and combined for a total of 38 points...
...having to face charges was issued by Musharraf as part of a last-ditch attempt to hang onto power by cutting a deal with Zardari and his late wife, the slain former Prime Minister Benazir Bhutto, who also faced corruption charges. (Zardari had previously served two stints and a total of 11 years behind bars, having been arrested, although never convicted, under former Prime Minister Nawaz Sharif, released when his wife came to power, and then sent back to prison after Sharif was reelected - before being freed under the deal with Musharraf.) (See pictures of Bhutto's village in mourning...
...thread in this tragic episode is the control exercised by local governments generally over the police, especially in deciding key appointments. Four police officers are under investigation for their possible involvement in the Maguindanao killings. Interior Secretary Ronaldo Puno told a news conference that there appeared to be a "total misuse of our law enforcement in the area." Until the central government gets a grip on Maguindanao and the wider south, such misuse and the concomitant lawlessness will tragically persist...