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Feb23
Business and Financial News on the Web

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Richard Branson: City to suffer without third runway

Sir Richard Branson will warn today that London's status as a global financial centre will be threatened unless the Government approves the construction of a third runway at Heathrow.

Fresh from losing out in the battle for Northern Rock, Branson will call on the three main London mayoral candidates to drop their opposition to a new runway, saying expansion at the airport is crucial if the City is to retain its position as Europe's pre-eminent financial centre.

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Million-Dollar Starter Homes
 
 
Step into the Manhattan offices of Prudential Douglas Elliman, and you'll see potential buyers negotiating million dollar-plus apartment purchases.

What makes the scene unusual is that many of the buyers are in their 20s and early 30s, ready to drop seven figures on a starter home.

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Planners Wanted ASAP

Needed: 50,000 new financial planners, and in a hurry. Boomers are reaching pre-retirement and retirement age, and, often, they're clueless about what to do with their money now. They're eager for help with decisions that could make or break their lives.

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Gold recently has had gusto and a polished image

The precious metal was propelled beyond $900 an ounce by fears about the financial markets, inflation, possible recession and a weaker dollar. Long considered a safe haven in turbulent times, it has tripled in price since 2001 and surged 31 percent in 2007.

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Hedge Funds Feel New Heat

The past decade has been the era of the hedge fund, as investors snapped them up for their track record of beating the market with often highly complex trades.

But now, as the credit crunch upends financial markets, that very complexity is coming back to bite some of them.

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Latin America nuclear pact signed 
 
 
Argentina and Brazil have agreed to build a joint nuclear reactor to address looming energy shortages.

The agreement came as part of a plan by South America's two biggest economies to extend defence and energy projects.
 
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Canceled Cancer Patient Awarded $9 Million
 
A woman who had her medical coverage canceled as she was undergoing treatment for breast cancer has been awarded more than $9 million in a case against one of California's largest health insurers.

Patsy Bates, 52, a hairdresser from Gardena, had been left with more than $129,000 in unpaid medical bills when Health Net Inc. canceled her policy in 2004.

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'Nightly News' Rails Against Coal Over Climate Change -- Again

NBC airs one-sided segment against a new coal-fired plant, which would bring jobs to a beleaguered Nevada economy.

Surprise – NBC chief environmental affairs correspondent and global warming alarmist Anne Thompson offered “Nightly News” viewers a variety of reasons why building a badly-needed coal-fired power plant in an isolated part of Nevada is a bad idea.

We talked recently about the global warming hoax here.

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