US stock markets fall amid credit fears
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Friday, August 3, 2007
The Dow Jones Industrial Average fell more than 280 points, Friday, to 13181.91, just two weeks after soaring to a historic record of 14,000. Two other major indexes, the Nasdaq and the Standard and Poor 500, fell more than 2% in a widespread market sell-off.
Shares of Bear Stearns, the largest United States underwriter of mortgage bonds, fell 6.3% today, resulting from Standard and Poor’s altering its outlook toward the company to “negative” from “stable”. The investment banking firm recently saw two of its major hedge funds sink after exposure to the sub-prime mortgage decline. Standard and Poor’s report said the firm may have problems, including its hedge funds, that could hurt the firm “for an extended period.”
The company held a press conference at noon, but was unable to salvage its stock, leading to heavy losses in the rest of the financial sector. Chief Financial Officer Sam Molinaro remarked that the credit market was in the worst condition he had seen in 22 years.
American Express shares fell 5.6%, while homebuilder Hovnanian Enterprises fell 9.4% in the sell-off which impacted all the indexes. American Home Mortgage Investment Corporation shares fell 52.07% in the session after announcing plans to close most operations and lay off over 6000 employees. The company has also lost its lending license in four states including New York.
“It is with great sadness that American Home has had to take this action,” Chief Executive Michael Strauss said in a statement. “Unfortunately, the market conditions in both the secondary mortgage market as well as the national real estate market have deteriorated to the point that we have no realistic alternative.”
Analysts say that the weakness in the stock markets and economy in general could prompt the Federal Reserve to lower interest rates, consequently allowing inflation to rise, but that it would also support stocks and ease borrowing. The Fed has not changed interest rates since June 2006.
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How Short Term Loans Are Multi Purpose Financial Backing?
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Kara Tointon and Artem Chigvintsev win UK Strictly Come Dancing
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Monday, December 20, 2010
British actress Kara Tointon and her Russian dance partner Artem Chigvintsev have become the winners of the latest series of the BBC Television programme Strictly Come Dancing. The pair won the dancing show on Saturday, leaving British television presenter Matt Baker and his Kazakhstani dance partner Aliona Vilani in second place.
| It’s just the most special thing that I’ve ever achieved. | ||
Bookmakers had considered this dancing duo to be the most likely to win the series. Meanwhile, Australian actress Pamela Stephenson finished in third place along with her British dance partner, James Jordan. It was ultimately a public vote that determined the results.
Upon winning, Tointon proclaimed: “It’s just the most special thing that I’ve ever achieved.” In reference to Chigvintsev, she exclaimed: “I want to thank this man, he’s been absolutely wonderful.” Talking about the experience, she commented: “I’ve met the most fantastic friends in my life and this has been the most special experience for me.” Chigvintsev then declared to Tointon: “You’re amazing.” Baker described the dancing pair as “worthy winners, without any doubt”, saying: “If I was at home I’d be voting for you, too.”
Earlier in the final programme, Tointon and Chigvintsev had danced to the tune of Cry Me a River; the dance received the acclaim of the judges. “I would kill to be able to dance like that, I thought it was amazing,” Craig Revel Horwood exclaimed. Alesha Dixon commented: “I’m quite sad that that is the last dance we are going to see you do”. In reference to the pair, she added: “Together you are first class.” Bruno Tonioli remarked: “You danced to a level that we hardly ever see here. Whatever happens, this was incredible.”
Bruno Tonioli described Matt Baker as “very dashing and elegant”. Len Goodman believed that he was “an excellent ballroom dancer”. At one point, Palema Stephenson received a perfect score of 40 from the four judges for her Viennese Waltz. Tonioli branded the dance as “simply brilliant”. Revel Horwood used the word “remarkable” to describe that performance.
