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To: tsigprofit who wrote (19540)	4/8/2004 9:21:45 AM
From: Bucky Katt	Respond to of 48461

IBM to add India firm that supplies services Outsourcing to be offered to clients BOMBAY, India -- IBM Corp. plans to acquire one of India's biggest call center firms, the U.S. company said Wednesday. It did not divulge the price. The purchase of Daksh eServices, which has 6,000 employees, would be finalized in May, subject to approvals from Indian authorities. Indian outsourcing firms such as Daksh are known for a business model built on low wages and operating costs. IBM and other U.S. companies have opened Indian operations in recent years to provide outsourced software development and back-office services to their clients worldwide.

To: tsigprofit who wrote (19540)	4/8/2004 9:40:46 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

US Jobless Claims in Three-Year Low WASHINGTON (Reuters) - The number of Americans filing initial claims for jobless aid dropped sharply last week to the lowest in more than three years, the government said on Thursday in a further sign of a reviving employment market. First-time claims for state unemployment insurance fell an unexpectedly steep 14,000 in the week ended April 3 to 328,000 -- the lowest level since just before President Bush took office -- from 342,000 the prior week, the Labor Department said. The unexpectedly large fall surprised analysts and led many to predict that a trend toward more hiring was in place, especially after last month's pickup in job creation. The numbers are likely to garner close attention at both the Federal Reserve and the White House. "Clearly good news," said economist Pierre Ellis of Decision Economics Inc. in New York. "What appears to be the resumption of new hiring should combine with this reduction in layoffs to promote strong employment growth." Financial markets were buoyed by the report, with the dollar rallying against other currencies after the report while stocks were set to surge. U.S. bond prices fell as investors bet interest rates may face upward pressure and prepared to move money into stocks. A POSITIVE SURPRISE The drop in claims far exceeded forecasts by Wall Street economists who had predicted a decline of just 2,000. The Labor Department said last week's weekly level of jobless claims was the smallest since 320,000 in the week of Jan. 13, 2001. Last week, the government reported a steep climb in new jobs during March with 308,000 positions added to payrolls, and the decline in jobless claims adds to evidence that hiring conditions may be on the upswing after a long drought. U.S. corporate profits have been rising and analysts said the latest claims figures implied businesses are growing confident enough about the outlook to retain or add to staff, a positive development for the consumer-led U.S. economy. "It suggests that the economy is strong and that companies are feeling more comfortable about hanging on to workers," said economist Gary Thayer of A. G. Edwards and Sons Inc. in St. Louis, Mo. The apparent pickup in employment may also hasten an end to a long era of low interest rates, which saw the Fed cut its key lending rate for overnight loans between banks to a 1958 low. The central bank regularly cites its concern about slack labor markets as a reason for keeping rates low, though recent jobs data suggest the slack is starting to be taken up. Weak hiring has been a hot issue in the campaign for November's presidential elections, with Democrats highlighting the net loss of jobs since Bush took office while administration officials maintain an economic upswing will soon give rise to job growth. The Labor Department's four-week moving average of new claims, which irons out weekly fluctuations, declined 3,250 last week to 336,750 -- the lowest since 335,750 in the week of Nov. 25, 2000.