| Codemasters Unveils New MMO: Jumpgate
The next MMO that'll try to take a chunk out of the World of Warcraft phenomenon is coming to you courtesy of Codemasters. Today, Codemasters unveiled a space-based MMO called Jumpgate, which is scheduled to ship in late 2008. Jumpgate is being developed by the U.S.-based MMO developer NetDevil. Codemasters Online also confirmed that they will be the exclusive publisher and operator of this next-generation MMO across Europe as they work with NetDevil to bring the game to North America. Whereas World of Warcraft focuses on fantasy-based action, Jumpgate will focus on space combat that allows players to choose from one of three playable nations. Embarking on their space adventure, players will be able to trade valuable commodities, take part in dangerous outer-space raids, meet and play with friends and, basically, live out their dreams of becoming an elite hero or infamous space pirate.
Xstrata spurns Vale approach
Xstrata has rejected an informal cash and share takeover approach from Brazilian mining group Vale pitched at just under £40 a share or $76bn (£38.9bn) for its entire equity. Xstrata and Glencore, the Swiss commodities trader that owns 35 per cent of the Anglo-Swiss mining group, dismissed the offer and are holding out for a price equivalent to about £45 a share, according to people close to the deal. .
Market Report: Miners lord it as copper and platinum spike up
Strong commodities took the miners to the top of the FTSE 100 index yesterday. Lower inventories and more power cuts at South African mines prompted a spike in the price of copper and platinum which, in turn, lifted companies such as Vedanta, which climbed 6.8 per cent to 2,022p, and Lonmin, which, despite its extensive South African operations, climbed 6.25 per cent to 3,300p. Other miners also gained, including BHP Billiton, up 4.9 per cent to 1,555p, Rio Tinto, up 5.4 per cent to 5,523p, and Anglo American, up 4.7 per cent to 3,061p. The sector-wide rally also helped lift Xstrata, which firmed 0.4 per cent to 3,819p despite reports suggesting that it had spurned a £40-per-share indicative offer from Vale, its Brazilian suitor. Most in the market were unsurprised by the news, noting that, if Vale had indeed made the approach at the price claimed, it was always likely to be rejected.
Canadian dollar falls against U.S.
Canadian dollar falls against U.S.
Tuesday, November 13, 2007 OTTAWA (AP) - The Canadian dollar suffered one of its worst days on record in relation to the American greenback on Monday, tumbling almost three cents, amid a reversal of several forces that had pushed it to record highs last week.
With commodities, particularly oil and gold, losing their luster and the U.S. dollar suddenly flexing some muscle, the loonie's orderly retreat from last week's brief flirtation with US $1.10 turned into a rout in international markets on Monday.
Canada's banks were closed Monday for the Remembrance Day holiday, so there was no official trading of the dollar in Toronto. At late afternoon on international markets, the loonie was at 103.09 cents US, down from Friday's close of 106.7 cents.
CONN. REFUGE FOR VET'S PAL
No more roadside bombs, no more screaming wounded, no more rattle of an AK-47 or of a Marine unloading with an M-4. The Iraqi man is safe now, living in the Brookfield, Conn., home of retired Marine Lt. Col. Michael Zacchea, under whom he served as a civilian translator. The two warriors have been bonding since 2004, when Zacchea was given orders to form the 5th Iraqi Motorized Rifle Battalion and chose Abdullah as his main interpreter. The two couldn't have been happier the other day when Abdullah got off the plane in Newark - finally arriving in America. "We hadn't seen each other since Feb. 28, 2005," recalled Zacchea of the date when he shipped out of the war zone. "It was wonderful seeing that look on his face, that look of joy." The two have remained in touch by e-mail over the years since Zacchea returned home and went into the commodities business.
Platinum Hits Record High Yet Again; Wheat Also Jumps To All-Time High
Platinum hit record highs for a third straight session on Monday amid output woes in South Africa and inflation from pricier oil. Wheat also peaked for a third day running on heavy speculative buying. Copper prices ended up but off their highs after a large earthquake in Chile, the world's biggest producer of copper and home to a wide array of industrial metal deposits. Leading commodity indexes such as the Reuters-Jefferies CRB, S&P GSCI and Dow Jones-AIG all rose about 1% each. Fundamentals aside, investors were drawn to commodities after Wall Street stocks slid on uninspiring U.S. factory orders for December which came in below expectations but not weak enough to spark a broad market shake-up. A weaker U.S. dollar against the euro also bolstered the case for buying inflation-sensitive commodities, particularly precious metals like gold and platinum.
Culling weak funds will strengthen ETF herd
The long-expected culling of the weak has begun in the world of exchange-traded funds. Eleven duds listed in the U.S. market are being closed and the safest bet on the stock markets right now is that more of these mutual fund alternatives will bite the dust before long. "We've always thought that the next bear market – and we're probably in one right now – would eliminate a lot of the duplicate funds and the esoteric funds," said Tyler Mordy, director of research at Hahn Investment Stewards & Co. Bring it on, baby. Closing ETFs addresses the confusing glut of products, while the impact on people who actually own doomed funds is minimal, other than a potential tax hit. ETFs are stocks that provide a clean, cheap way to buy the returns of hundreds of stock indexes and commodities.
Johnson making 7th to Cuba to pitch farm products, mainly spuds
North Dakota Agriculture Commissioner Roger Johnson is making another trip to Cuba next month to push North Dakota farm products.Johnson says it will be his seventh trip in the past seven years pitching the state's commodities. He said the state has sold about $30 million worth of peas and lentils to Cuba since 2001. But he said a deal he helped broker last year that would have sent 100 tons of seed potatoes to Cuba has languished.Rules have not been crafted to deal with potato food-safety issues, known as "sanitary and phytosanitary measures," that ensure the commodity is disease and insect-free, Johnson said."It's disappointing," Johnson said. U.S. regulators "are still dithering around with the protocol - it's hard to say where the block is."The United States established a trade embargo with Cuba in 1962, but Congress passed a law in 2001 allowing cash sales of U.S.
Earnings roundup: Campbell, Hormel
CAMDEN, N.J. (AP) _ The Campbell Soup Co. said Friday its second-quarter profit slipped 3.9 percent as increases in the cost of commodities and energy and higher promotional spending offset a strong sales increase. MINNEAPOLIS (AP) _ Hormel Foods Corp. said strong sales of Spam and a recovery in its turkey business boosted first-quarter earnings by 17 percent. Other stories: DULUTH, Minn. (AP) _ Allete Inc.'s profit slipped 2 percent in the fourth quarter as flagging property values in Florida dragged the value of the power company's real estate, the company said Friday. NEW YORK (AP) _ Greek drybulk shipper Diana Shipping Inc. said Friday its fourth-quarter earnings surged 87 percent on higher charter rates and an expanded fleet, but the results still narrowly missed Wall Street's expectations.
|
