New York City is surely a place where you can expect the unexpected. A new jewel to its crown of being unique is the freestanding waterfall created by Danish artist Olafur Eliasson, unveiled in a public spectacle by Mayor Micheal Bloomberg.
The four sites of the newly created waterfall are, off the Governors Island in the harbor, the Brooklyn base of the Brooklyn Bridge, Pier 35 near the Manhattan Bridge and off the Brooklyn Promenade. The waterfall that beautifully cascades into the East River off Manhattan took almost two years in the making and came at expenditure of $15.5 million.
Mayor Micheal Bloomberg, in a conference on the terrace of South Street Seaport during its unveiling, quoted “New York is a place where big ideas are realized.” He called the spectacle most unexpected waterfalls between North America and Africa.
In what is sure to be a thrilling find for scientists and alien life-watchers across the world, the Martian mystery continues to unravel, with the robotic lab on board the Phoenix spacecraft discovering nutrients that could support plant life.
On Monday, Sociedade de Jogos de Macau (SJM), the gaming group of Macau mogul Stanley Ho, launched its road show for an initial public offering expected to raise as much as $800 million. The move acknowledges SJM's need for change as the family-owned business competes on its home terrain -- the world's largest gaming market -- against publicly traded entrants Wynn Resorts (NYSE: WYNN) and Las Vegas Sands (NYSE: LVS).
I'm told the duty-free shopping in the Middle East is excellent, but NYSE Euronext 's (NYSE: NYX) shopping trip to Qatar is all about business. The company (a Motley Fool Rule Breakers recommendation) announced Tuesday that it is acquiring 25% of Qatar's Doha Securities Market for $250 million and that it will build the exchange a new cash and derivatives market based on its technology.
As the price of oil continues its relentless climb, many businesses are feeling the pressure. Two companies that spend a good chunk of their revenues on fuel costs, FedEx and UPS are reeling more than most. Their shares have been hammered on Wall Street because of missed earnings and lowered guidance, caused primarily by soaring fuel costs.
It's taken almost two decades, but ExxonMobil (NYSE: XOM) has wriggled out from under most of the $2.5 billion in punitive damages assessed against it after the infamous 1989 Exxon Valdez oil spill in Alaska's Prince William Sound.
Noted for their simplicity and other advantages over mutual funds, exchange-traded funds have become a popular investing tool. ETFs hold a collection of stocks that share certain elements. Investors drawn to the potential returns in basic utilities, for example, can turn to Utilities Select Sector SPDR , which includes Duke Energy (NYSE: DUK) and FPL Group (NYSE: FPL) in its top holdings. But because this ETF invests in a number of stocks, its broad diversity also limits your upside.
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