GANGTOK, 22 Jan: Sikkim Democratic Front has expressed its deep condolence on the loss of lives in the tragic road mishap at Triveni in West Bengal on 18 January.
In a condolence message, the party has expressed its deep condolence to the bereaved families and prayed for peace to the departed souls.
The party has also prayed for the early recovery of the injured persons.
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AFP
Schalke 04 midfielder Lewis Holtby.
London – Germany and Schalke 04 midfielder Lewis Holtby will join Tottenham Hotspur in the January transfer window having initially agreed earlier this month that he would move in July.
“We are delighted to announce that we have reached agreement with Schalke for the immediate transfer of Lewis Holtby,” the Premier League club said on their website on Monday.
Holtby, 22, was due to be out of contract at Schalke at the end of the season.
The versatile midfielder, who has three Germany caps, joined Schalke in 2009 from Alemannia Aachen and was loaned out to Bochum and Mainz prior to making his breakthrough with the Gelsenkirchen-based club.
Holtby, who captained the Germany Under-21 side but whose father is English, has made 160 appearances in his career and scored 29 goals.
His early arrival will boost Spurs boss Andre Villas-Boas after losing Brazilian midfielder Sandro to a knee injury for the rest of the season.
The north London side, dumped out of the FA Cup fourth round on Sunday at second tier Leeds United, are fourth in the Premier League as they eye England’s fourth and final Champions League berth.
Schalke, sixth in the Bundesliga, face Turkey’s Galatasaray in the Champions League last 16 in February and March. – Reuters
New York – US stocks were flat on Monday, with investors reluctant to make big bets following an extended equity rally, though strong data and results from Caterpillar kept a positive tone in markets.
The S&P 500 is coming off a streak of eight sessions of gains, the longest winning streak for the index in eight years. On Friday, it closed above 1,500 for the first time in more than five years.
Caterpillar Inc rose 1.8 percent to $ 97.24 after the Dow component reported adjusted fourth-quarter earnings that beat expectations, though revenue was slightly below forecasts. The heavy machinery maker also said it expects China’s economy to improve, though not at the rates of 2010 and 2011.
The results continued the trend of major firms posting strong quarters, contributing to major averages rising for four straight weeks.
“You can’t find more of a global bellwether than Cat, and people are pleased with the number, which suggests there could be less concern about slowing growth in China after this,” said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.
Thomson Reuters data through Friday showed that of the 147 S&P 500 companies that have reported earnings so far, 68 percent exceeded expectations. Since 1994, 62 percent of companies have topped expectations, while the average over the past four quarters stands at 65 percent.
The Dow Jones industrial average was up 18.07 points, or 0.13 percent, at 13,914.05. The Standard & Poor’s 500 Index was down 0.07 points, or 0.00 percent, at 1,502.89. The Nasdaq Composite Index was up 7.25 points, or 0.23 percent, at 3,156.97.
The S&P 500 on Friday closed at its highest since December 10, 2007, and the Dow ended at its highest since October 31, 2007.
Over the past four weeks, the S&P has jumped 7.2 percent, suggesting markets may be vulnerable to a pullback if news disappoints.
Durable goods jumped 4.6 percent in December, a pace that far outstripped expectations for a rise of 1.8 percent.
“We continue to have a parade of better-than-expected economic reports. All-in-all it’s a good picture. I think there’s a good chance we’ve reached a point of recognition where people don’t think the economy will crater,” Kaufman said.
In addition to earnings, equities have also risen on an agreement in Washington to extend the government’s borrowing power. On Monday, Fitch Ratings said that agreement removed the near-term risk to the country’s ‘AAA’ rating.
Previously, the agency said the lack of an agreement would prompt a review of the sovereign rating.
In company news, Keryx Biopharmaceuticals Inc said a late-stage trial of its experimental kidney disease drug met the main study goal of reducing phosphate levels in blood, sending shares up 43 percent to $ 4.91.
Bargain hunters may look to Apple Inc in the first session after the tech giant lost its coveted title as the largest US company by market capitalization to Exxon Mobil Corp. Apple rose 0.7 percent to $ 443.06.
On Friday, Apple’s market cap fell to $ 413 billion, down roughly $ 250 billion from its September peak. Apple’s fall is about equal to the entire value of Google Inc.
“Apple is pretty attractive right now, so you may see an opportunity here,” said Chris Bertelsen, who helps oversee $ 1.5 billion as chief investment officer of Global Financial Private Capital in Sarasota, Florida. “Those who think the stock is dead have made a big mistake.” – Reuters
GANGTOK, 22 Jan: Only one way traffic will be allowed on the Paljor Stadium Road on Republic Day i.e 26 January, the East district Traffic Police has notified.
A press release issued by the Deputy Superintendent of Police, Traffic, Ongmu Bhutia, informs that the road from DPH Junction to District Administration Centre at Sichey and DPH Junction to Sichey Cooperative Junction have been declared one-way for the convenience of public and pedestrians coming to witness the Republic Day celebration at Paljor Stadium.
The Gangtok Traffic police have further requested the people coming to witness the Republic Day function to follow one side of the road for their safety and to give free passage to vehicular movement on the day.
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Washington – A gauge of US business investment improved in December, a sign that worries over tighter fiscal policy may not have held back capital spending plans as much as feared at the end of 2012.
The Commerce Department said on Monday that non-defense capital goods orders excluding aircraft, a closely watched proxy for investment plans, edged up 0.2 percent last month.
Many economists had expected businesses to be more timid with spending late last year because of uncertainty over government spending cuts and tax increases, which had been scheduled to kick in this month. Congress struck a last-minute deal in early January to avoid or postpone most of the austerity measures.
Monday’s data showed companies were still planning to expand their businesses.
“There’s a lot more confidence,” said Wayne Kaufman, an analyst at John Thomas Financial in New York.
The data pushed down prices for US government debt, while giving the dollar a lift against the yen. But stock prices opened little changed.
The report showed new orders for overall durable goods – long lasting factory goods from toasters to automobiles – jumped 4.6 percent in December, beating economists expectations of a 1.8 percent gain.
Gains were broad based, with new orders for machinery, cars and primary metals all increasing. Orders of civilian aircraft, a volatile category, jumped 10.1 percent.
Economists still think economic growth cooled in the fourth quarter as companies slowed the pace at which they re-stocked their shelves.
But Monday’s report suggested businesses expect demand in the US economy to improve.
In a further sign firms were betting their business will grow, the investment plans proxy for November was revised higher to show a 3 percent gain.
“It certainly seems to us that companies are slowly but surely expanding,” said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York. – Reuters
