Financial
Latvia becomes 18th country to adopt the euro PDF  | Print |  E-mail
Written by ROMAN KOKSAROV, Associated Press   
Wednesday, 01 January 2014 08:04

RIGA, Latvia (AP) — Latvia celebrated the new year as the 18th member of the eurozone, which for all its dents and bruises still represents stability and security to the Baltic country's leaders.

The euro became Latvia's official currency after midnight local time Tuesday (2200 GMT Monday) as New Year's rockets exploded in the skies over the capital, Riga.

Acting Prime Minister Valdis Dombrovskis withdrew the first euro note from a bank machine in a ceremony in Riga after Latvian TV showed pre-recorded greetings from European leaders welcoming his country to the eurozone.

"It's a big opportunity for Latvia's economic development becoming a member of the world's second biggest currency," Dombrovskis said.

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Key gas drilling health study collecting Pennsylvania data PDF  | Print |  E-mail
Written by KEVIN BEGOS, Associated Press   
Wednesday, 01 January 2014 07:53

PITTSBURGH (AP) — Almost two years after it began, a much-publicized plan to study possible health impacts from gas drilling is still in the process of collecting data.

Geisinger Health Systems, of Danville, began seeking partners for the long-term project in early 2012. It's secured at least $1.3 million in funding and has attracted a wide range of medical, environmental and academic partners. For now, the main goal is to build a data warehouse available to researchers.

Geisinger spokeswoman Patti Urosevich said in an email that the project has collected Pennsylvania data on traffic and accidents, air pollution emissions, and the locations of thousands of gas wells and more than 600 compressor stations, which feed the gas through pipelines.

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Bombardier said to win order for $2.2B in jets PDF  | Print |  E-mail
Written by Associated Press   
Wednesday, 01 January 2014 08:03

NEW YORK (AP) — Bombardier Inc. said Tuesday it has received a firm order for 38 business jets with a combined list price of about $2.2 billion.

Bombardier didn't disclose the precise value of the deal — customers such as airlines routinely get discounts from plane manufacturers — and didn't identify the buyer.

The Canadian plane maker said the order covered 28 Global jets and 10 Challenger 605 aircraft. The Global line includes four models capable of carrying up to 19 passengers on flights as long as 7,900 nautical miles. The Challenger jet can carry 12 passengers and a crew of three up to 4,000 nautical miles.

Separately, Bombardier announced that its transportation division ended a contract for new signaling equipment for the London Underground. The subway system said it would re-bid a contract that was awarded to Bombardier in 2011 and valued at $577 million at the time.

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2013 was the year of unstoppable stocks PDF  | Print |  E-mail
Written by STEVE ROTHWELL, AP Markets Writer   
Tuesday, 31 December 2013 14:33

NEW YORK (AP) — The stock market was unstoppable in 2013.

A U.S. government shutdown, fear of a default, the threat of military action in Syria, big budget cuts, and a European country looking for a bailout — any number of events might have derailed the stock market. But they didn't.

And if skittish investors jumped out of stocks, they lost out.

"2013 would have been good year to wear noise-cancelling headphones," says Dean Junkans, chief investment officer for Wells Fargo Private Bank. "There were a lot of things that happened and the market kept moving higher."

The Standard & Poor's 500 was poised to have its best year since 1997. It was up 29.4 percent as of 12:48 p.m. Eastern time Tuesday. The Dow Jones industrial average was also on track for a stellar performance: It was up 26.3 percent, its best gain since 1995.

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