Forex Trading Course

Tenet Healthcare Receives $340 Mln From Insurers For Hurricane ...

(RTTNews) - Thursday morning, Tenet Healthcare Corp. (THC | charts | news | PowerRating), a provider of healthcare services, revealed it reached an agreement with its property insurers for fiscal year 2005-06 to settle all its claims related to damages and business interruption that it incurred on account of Hurricane Katrina. The company said that it received the total claims of $340 million from the insurers as of today.

The Texas-based company said that all the five hospitals that it operates in New Orleans market, the hospital it operates in Biloxi, Mississippi, and its five Diagnostic Imaging Services outpatient radiology centers and other support property in New Orleans sustained significant damages when Hurricane Katrina made landfall on August 29, 2005. The company said that on account of extensive damage, it had not been able to reopen Memorial Medical Center and Lindy Boggs Medical Center so far.

World oil prices set new records beyond 75 dollars

A trader in the crude oil futures pit yells out during trading at the New York Mercantile Exchange in New York. Crude oil prices hit all-time highs above 75 dollars per barrel in London and New York on signs of strong global demand and simmering geopolitical tensions, particularly over Iran and North Korea, analysts said. .

Weekly Commentary

The dollarfell sharply late last week amid concern that the Federal Reserve will have to pause in August and probably end its tightening cycle. Talk of the slow down of the US economy is circulating but proof is not really there. The US currency should consolidate early this week and if it fails to recover quickly, then the next wave of selling will be aggressive.

The US currency ended the week and the second quarter on a weak note on fear of receding economic growth amid still biting inflation. The pace of growth seen in the second quarter will be halved in the third quarter and strong commodity prices will further slow consumption. But in the short term the slide was overdone.

The dollar fell on profit taking on Monday after surging during the previous two days.

Aftermarket Movers: Take-Two Takes Hit

NEW YORK (AP) - Video game publisher Take-Two Interactive Software Inc. shares got slammed in the after-hours trading session Thursday, after the New York City-based company said its second-quarter loss widened dramatically, partly due to charges related to asset write-offs and studio closings.

Shares of the maker of the "Grand Theft Auto" titles were trading at $14.69 on the INET electronic exchange, down $2.08, or 12.4 percent, from Thursday's closing price of $16.77 on the Nasdaq.

NRIs branching out to India

'As an NRI, you can't do business in India by telephone and email, you need to set up a proper branch office if you are serious,' said Jayant 'Jay' Kumar in Leicester. He plans to invest in real estate. NRI real estate agents and estate developers have been flooded with requests from their local clients after the Indian government allowed foreign direct investment (FDI) in real estate Feb 24, 2005.

At first, Jay made some deals through his business contacts in India but the business has now grown in size and complexity, and he has to set up shop in India.

An NRI is allowed to establish a branch office or an office in India to carry out lawful business. So NRIs are allowed to set up offices for export/import of goods, offering professional or consultancy services, representing the parent company and working as a buyer/seller for it, promoting financial or technical collaboration between Indian and parent companies, carrying research work for the parent company, supplying IT and software services, offering technical support to goods or services supplied in India by the parent company, airline/shipping company or any other activity permitted by the Reserve Bank of India (RBI).

Sensis forecasts upbeat

TELSTRA chief executive Sol Trujillo has rejected claims the company's core growth engine, online directories business Sensis, will miss its aggressive growth targets.

"Everything we are doing (with Sensis) basically is on track," Mr Trujillo said.

Last November, Mr Trujillo said he expected Sensis to double revenue within five years to more than $3 billion. But analysts are not so certain.

Macquarie Bank telco analyst Tim Smart last month challenged the market's expectation that Sensis could increase revenue by 6-7 per cent a year until 2010.

"Sensis is still generally considered a solid, relatively low-risk growth engine for Telstra, (but) in light of emerging, powerful, new online local search competition, we challenge the consensus view of growth and risk," he wrote.