Obama welcomes Indian Prime Minister Manmohan Singh

The flags of the United States and India are flying outside theThe flags of the United States and India are flying outside the White House as President Barack Obama prepares to host his first state visit. There will be pomp and ceremony as Mr. Obama welcomes Indian Prime Minister Manmohan Singh.They will be rolling out the red carpet at the White House for the Indian prime minister.There will be a ceremonial welcome with full military honors, and a state dinner for 400 in a tent on the South Lawn.But there will also be substance. White House spokesman Robert Gibbs says there are plenty of key topics on the agenda."Obviously, counterterrorism is important, the economic recovery, the world economy, our relationship to them in terms of climate change," said Robert Gibbs.The visit is expected to produce concrete results on the climate change issue. On the eve of his White House visit, Prime Minister Singh told a gathering of business leaders in Washington that India and the United States are ready to sign a memorandum of understanding."We plan to sign with the U.S. government tomorrow a memorandum of understanding on energy security, clean energy and climate change," said Manmohan Singh. "This will provide a framework for pursuing bilateral cooperation in specific areas."The Indian leader made clear he considers it an honor to be chosen for the first state visit for the Obama White House."It is a great pleasure for me to be visiting Washington once again," he said. "I am looking forward to my discussions with President Obama tomorrow when my official program begins."But critics say the state dinner - with its lavish table settings and formal attire - is not appropriate at a time of rising unemployment in the United States.When asked about the criticism, spokesman Gibbs said the state dinner honors a bilateral relationship that is important to both countries."I think it's a show of respect for the value that we put on that relationship," he said. "I think India is the world's largest democracy, and I think the relationship that we have with them [the United States] and the issues that we're dealing with them are tremendously important going forward in our future."In recent weeks, the Obama administration has made overtures to Pakistan and China - India's traditional rivals. Now, analysts say, Mr. Obama might be attempting to ease any tensions in New Delhi by honoring Mr. Singh with the first state visit of his presidency. White House as President Barack Obama prepares to host his first state visit. There will be pomp and ceremony as Mr. Obama welcomes Indian Prime Minister Manmohan Singh.They will be rolling out the red carpet at the White House for the Indian prime minister.There will be a ceremonial welcome with full military honors, and a state dinner for 400 in a tent on the South Lawn.But there will also be substance. White House spokesman Robert Gibbs says there are plenty of key topics on the agenda."Obviously, counterterrorism is important, the economic recovery, the world economy, our relationship to them in terms of climate change," said Robert Gibbs.The visit is expected to produce concrete results on the climate change issue. On the eve of his White House visit, Prime Minister Singh told a gathering of business leaders in Washington that India and the United States are ready to sign a memorandum of understanding."We plan to sign with the U.S. government tomorrow a memorandum of understanding on energy security, clean energy and climate change," said Manmohan Singh. "This will provide a framework for pursuing bilateral cooperation in specific areas."The Indian leader made clear he considers it an honor to be chosen for the first state visit for the Obama White House."It is a great pleasure for me to be visiting Washington once again," he said. "I am looking forward to my discussions with President Obama tomorrow when my official program begins."But critics say the state dinner - with its lavish table settings and formal attire - is not appropriate at a time of rising unemployment in the United States.When asked about the criticism, spokesman Gibbs said the state dinner honors a bilateral relationship that is important to both countries."I think it's a show of respect for the value that we put on that relationship," he said. "I think India is the world's largest democracy, and I think the relationship that we have with them [the United States] and the issues that we're dealing with them are tremendously important going forward in our future."In recent weeks, the Obama administration has made overtures to Pakistan and China - India's traditional rivals. Now, analysts say, Mr. Obama might be attempting to ease any tensions in New Delhi by honoring Mr. Singh with the first state visit of his presidency.

WASHINGTON

— A leading Senate Democrat said Monday his party is determined to push through a health care overhaul bill with or without Republican support because the "system is broken." "We prefer to go at it with Republicans if we can reach compromises in some areas," said Sen. Charles Schumer, D-N.Y. "But we're not going to not pass a bill."
Schumer dueled with Republican Sen. Kay Bailey Hutchison on a network morning news show in the wake of a key Senate vote Saturday night that advanced a 10-year, $959 billion health bill to full debate. Hutchison argued that "you're going to put taxes and mandates on business" that would be a drag on an economy still struggling to recover from recession.
Congressional Democrats are trying to resolve differences within their rank and file over abortion, taxes and letting the government sell health insurance as a competitor with private insurers. Those are all crucial policy questions, and House and Senate Democrats have taken conflicting approaches.
Appearing on NBC's "Today" show Monday, Schumer said, "We all know we have to give a little. ... If we don't do anything, that is the worst situation, and we have a good bill." He said lawmakers must come together because "the health care system is broken."
Schumer argued that Republican critics "haven't put any alternative on the floor."
Hutchison called it "a terrible idea at this time." She said that Republicans "have put alternatives on the floor," including individual tax credits that would not include cutting Medicare and permitting a government takeover of the health care system.
Hutchison is challenging incumbent Republican Rick Perry for Texas' governorship and is a near certain vote against any Democratic health care plan. However, Senate leaders hope to persuade moderate Sen. Olympia Snowe, R-Maine, who voted for a Democratic bill in the Finance Committee, to back final legislation.
The Democratic measures would leave 12 million or more eligible Americans uninsured. Many middle-class families who'd now be required to buy coverage would still find the premiums a stretch, even with government aid. A new federal fund to provide temporary coverage for people with health problems would quickly run out of cash.
For now, these bread-and-butter concerns take a back seat to more pressing issues for Democratic lawmakers trying to deliver on President Barack Obama's signature issue.
The House passed its health care bill 220-215 earlier this month. The Senate cleared the way Saturday for debate on legislation unveiled by Majority Leader Harry Reid, D-Nev. The bill, a compromise between two committee-passed versions, could undergo significant changes as senators amend it during weeks of arduous debate ahead.
Both bills would require all Americans to carry health insurance, with government help to make premiums more affordable. They would ban insurance companies from denying coverage or charging more to people with health problems. They would set up new insurance markets for those who now have the hardest time finding and keeping coverage — self-employed people and small businesses. Americans insured through big employer plans would gain new consumer protections but wouldn't face major changes. Seniors would get better prescription coverage.
"For the first time, we're going to allow American consumers to be involved in a buyers' market for health insurance," said Sen. Chris Dodd, D-Conn., one of the authors of the Senate bill. "This Congress is going to pass, and this president is going to sign, a national health care program for all Americans."
Before any signing ceremony, lawmakers must clear some tall hurdles.
On abortion funding, the House adopted strict limitations as the price for getting anti-abortion Democrats to vote for the final bill. Abortion rights supporters are backing Reid's approach in the Senate bill, which tries to preserve coverage for abortion while stipulating that federal dollars may not be used except in cases of rape, incest, or to save the life of the mother.
In the end, Reid may have to bend. Catholic bishops say they can't accept his approach because it would let federally subsidized plans cover abortion. They vow to oppose the health care bill unless, like the House, the Senate enacts stronger language. Democratic senators opposed to abortion are already threatening a battle.
On financing, the House relies mainly on an income tax hike for upper-earners to pay for expanded coverage. The Senate opted for a tax on high-cost insurance plans, a Medicare payroll tax hike on the wealthy and fees on medical industries. In polls, the House approach is more popular. The Obama administration has signaled it likes the Senate's insurance tax.
That leaves the controversy over a creating a government health plan to compete with the insurance industry. It has dominated the debate and remains unresolved.
Both House and Senate bills now provide for a government insurance plan, but Reid's bill would let states opt out. It's not clear that Reid has the votes. He may be able to get a compromise to allow a government plan only if, after a reasonable time, insurance companies fail to deliver lower premiums.
Resolving these policy issues would be a historic accomplishment for Democrats. But the bill could still leave consumers feeling a little cheated.
Copyright © 2009 The Associated Press. All rights reserved.

Chinese bank may back $7.5b Qld project

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Forex giants head for the net

Web-based foreign exchange trading is set to grow

The three largest players in the global currency market are teaming up with Reuters to offer foreign-exchange services over the internet to major clients, according to a report in Monday's Wall Street Journal.

The report said US banks Chase Manhattan and Citigroup and Germany's Deutsche Bank were creating a new company together with the news and financial information provider.

The move is the latest and most significant sign that big players in currency markets are turning to the internet to answer their clients' demands for faster services at lower prices.

Chase, Citigroup and Deutsche Bank together have a market share in world foreign exchange trading of almost 30%.

Other partners sought

The Wall Street Journal reported sources familiar with the deal as saying that the four founders were now seeking to include a further 50 or 60 international banks in the venture before publicly announcing its creation.

The new venture is set to compete directly with FX Alliance, an internet-based currency venture recently established by 13 other major international banks.

Boston, Goldman, Sachs Group, HSBC Holdings, JP Morgan, Morgan Stanley Dean Witter and UBS Warburg - all of whom are among the world's top 10 foreign exchange traders.

"There is room for two companies - EBS and Reuters - on the interbank matching system so I don't see why there might not be room for two here," said one banker in London.

"They could end up specialising in different things but if they don't differentiate themselves like this, it will come down to prices. In the short term, Citi, Deutsche, and Chase could be very aggressive on the pricing."

One-stop shop

Both services aim to offer their customers - expected to be mainly multinational corporations, institutional investors and hedge funds - a one-stop shop for currency services.

These would include spot, or regular, trades, more sophisticated financial instruments such as options and forwards and research and analytical modelling tools.

Clients would have 24-hour access to the global foreign exchange market, in which transactions worth a total of about $1,500bn are conducted each day.

The Wall Street Journal said the four companies planned to launch the new venture in early 2001 and have it fully operational by the third quarter of next year.

Citigroup and Reuters declined to comment on the report. Deutsche Bank and Chase Manhattan were unavailable to comment.

UK Warnings

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weather forecaster

What did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.What did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.
Is your job hard?Presenting the weather is fun, buWhat did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.What did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.What did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.
Is your job hard?Presenting the weather is fun, but preparing tWhat did you do before becoming a weather forecaster?Before I became a broadcast meteorologist I was a forecaster with the RAF - for six months of that time I was with 617 squadron known as the 'Dambusters'. Earlier I spent a few years tucked away on a small airfield making weather observations. Before I joined the Met Office I tried my hand at managing a car spares shop, training as a ship broker and spending a few months on a merchant ship. Best of all I worked part-time on a farm when I was still at school - combine machinery and animals and I am happy!
When did you become a weather forecaster?I came to the BBC Weather Centre in March 1991 and did my first live broadcast about four months later.
Why did you want to be a weather forecaster?I wanted to interest people in the weather - maybe the idea of fame and fortune also came into it!
Do you get nervous before a broadcast?Not as much as I used to. It was a good job I was sitting down for the first one because I was so nervous my legs were shaking.
Have you ever made any mistakes?Yes, but I have only once dried up - and that was a 30 second broadcast.
Is your job hard?Presenting the weather is fun, but preparing the broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.he broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.
Is your job hard?Presenting the weather is fun, but preparing the broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.
Is your job hard?Presenting the weather is fun, but preparing the broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.t preparing the broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.
Is your job hard?Presenting the weather is fun, but preparing the broadcasts is hard and just about all the time between broadcasts is spent preparing the next one.
Do you enjoy your job?I enjoy it when I am doing well - you are only as good as your last performance.
Could anyone do your job?Yes, anyone can do it but only a few fortunate people are given the opportunity.

If you think a long-term trend is developing,

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1. How much am I willing to risk?
2. What is my upside and downside potential?
3. What are the market conditions? (Is the market volatile or calm?)
4. What is the logic behind entering this trade?
5. When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1. How much am I willing to risk?
2. What is my upside and downside potential?
3. What are the market conditions? (Is the market volatile or calm?)
4. What is the logic behind entering this trade?
5. When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1. How much am I willing to risk?
2. What is my upside and downside potential?
3. What are the market conditions? (Is the market volatile or calm?)
4. What is the logic behind entering this trade?
5. When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1. How much am I willing to risk?
2. What is my upside and downside potential?
3. What are the market conditions? (Is the market volatile or calm?)
4. What is the logic behind entering this trade?
5. When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1. How much am I willing to risk?
2. What is my upside and downside potential?
3. What are the market conditions? (Is the market volatile or calm?)
4. What is the logic behind entering this trade?
5. When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

Before entering an order, you should consider both your entry and exit points. One of the mistakes most commonly made by traders, especially new traders, is letting emotions get in the way of their strategy.