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Signs of the Times for Wed, 07 Jun 2006

NewScientist.com news service
Patrick Barry
05 June 2006
THE next time a Katrina-like hurricane strikes, it could be the Big Apple, not the Big Easy, that finds itself underwater. The New York area hasn't experienced a hurricane since 1985, and Manhattan a direct hit since the 1800s. Yet forecasters say because we're midway through a roughly 25-year cycle of warm waters in the Atlantic Ocean, conditions are ripe for a major hurricane to hit the north-east coast of the US within the next few years.

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The Associated Press
June 7, 2006
BERLIN - The 12-nation euro was down slightly Wednesday against the U.S. dollar, which continued to be supported by comments from U.S. Federal Reserve Chairman Ben Bernanke that have raised expectations of another interest rate hike in Washington.

In morning European trading, the euro bought US$1.2790, down from US$1.2834 in New York on Tuesday. The British pound slipped to US$1.8573 from US$1.8608 in New York, while the dollar rose to purchase 113.40 Japanese yen from 113.14 the day before.

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www.chinaview.cn 2006-06-07 15:16:23
BEIJING, June 7 (Xinhua) -- Chinese shares closed 5.33 percent lower on Wednesday, the biggest daily fall in four years, as investors dumped shares for profit-taking over concerns for a possible interest rate hike.

The Composite Stock Index on the Shanghai Stock Exchange, which comprises yuan-denominated A shares and foreign-currency B shares, closed at 1,589.55 points, down by 89.58 points, or 5.33 percent.



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By Doug Palmer
Reuters
Tuesday 06 June 2006
Washington - The United States and South Korea kicked off talks on Monday on the biggest U.S. free trade agreement in more than 12 years, as South Korean farmers and labor activists vowed to do what they could to stop it.

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By John Acher, Reuters
OSLO - Norway said on Tuesday that its $240-billion oil fund would no longer invest in Wal-Mart (WMT), the world's biggest retailer, because of what it called "serious and systematic" abuses of human and labor rights.



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