Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (79253)	11/12/2001 12:04:16 PM
From: long-gone	Respond to of 116753

New York, Nov. 12 (Bloomberg) -- Goldman Sachs Group Inc. says it was one of several companies given an early tip about the U.S. Treasury Department's decision to stop selling 30-year bonds,raising the likelihood that the information was more widely known than had been thought, the Wall Street Journal reported, citing unidentified people familiar with the matter. The information may have helped the securities firm plan its trading strategy ahead of the official announcement on Oct. 31, the paper said. It isn't known whether Goldman made any profit because of the tip, nor is it clear that any securities laws were violated, the paper said. Goldman believes it hasn't engaged in any wrongful behavior and will assist authorities with any review they might conduct, the Journal reported, citing a company statement. Pete Davis, an industry consultant, attended an Oct. 31 Treasury press briefing where the news was announced and disclosed the embargoed information to his clients; Goldman is one of Davis's clients and contacted the Securities and Exchange Commission and the Treasury Department to discuss the matter, the paper said. The SEC has said it will investigate the premature disclosure of the Treasury Department's decision to stop issuing the 30-year bond. As well as Davis's tip to clients, the Treasury press office posted a news release on its Web site at least 10 minutes early. The price of the 30-year bond jumped in the half-hour before the Treasury announced it would no longer sell the security, raising questions about possible breaches of insider-trading laws. Daily trading in the Treasury market dwarfs the stock market, with more than $300 billion of average daily trades in a recent week, compared with about $75 billion for the New York Stock Exchange and Nasdaq Stock Market. A trader with advance knowledge of the Treasury's decision would have had an advantage on a day when bonds posted their biggest move since the October 1987 stock market crash. The 5 3/8 percent Treasury bond maturing in 2031 gained 5 5/32 points, pushing down its yield 33 basis points to 4.87 percent. While Goldman is the biggest firm to acknowledge receiving the tip, other firms could yet be caught up in the fallout, the paper said, citing industry experts. The SEC has confirmed that it is investigating several bond-trading firms. The identities of the other firms aren't known, nor is it clear whether they traded on the information, the Journal said. -END-

To: E. Charters who wrote (79253)	11/16/2001 11:34:48 AM
From: Richnorth	Respond to of 116753

Chinese equipment to fight anthrax in US BEIJING: China has developed a machine to destroy anthrax in mail and is getting ready to export four of these to the United States. The machine developed by Chinese scientists delivers an electronic beam which could destroy anthrax in mail, an official newspaper reported on Friday. Manufacture of four of the machines, which will be delivered to the US, is underway and going well, according to the science and technology daily. The Chinese Academy of Atomic Energy Sciences and the Beijing Municipal Public Security Bureau have signed a contract to manufacture the apparatus. This new-type electron accelerator, specially designed for killing bacteria in letters and for mail-disinfecting, is a desktop self-shielding machine which can be used in an unprotected room, the report said. The apparatus, which is two cubic metres in size, produces a high-energy electronic beam which can kill all biological bacteria including anthrax. Each one can disinfect 10,000 to 20,000 letters daily and is harmless to humans. Treated letters produce no radioactivity, the report said. However, the report did not give the cost of the machine. China has not reported any cases of anthrax attack. However, the British Embassy and two multinational companies here received packets with some powdery substance last month but the envelopes were tested harmless. ( PTI ) timesofindia.indiatimes.com