Algae drives down property values on Lake Champlain GEORGIA, Vt.- The two cottages on the shore of Lake Champlain will someday be passed down to her children but Enid Letourneau worries the algae that turns the shoreline pea-soup green each August means they won't amount to much of an inheritance. The algae, which can be toxic to humans and dogs, prompted the town of Georgia to reduce the property values $50,000 each...
Source: The Associated Press
| By: By LISA RATHKE, Associated Press
Tail risks to US markets: Kocherlakota CNBC's Steve Liesman, and Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, discuss whether the recent market selloff is a direct result of Fed policy, and the outlook on further volatility.
POLL-China's central bank likely to ease policy again by end-Dec Aug 28- China's central bank is highly likely to ease monetary policy again by the end of this year, according to economists surveyed by Reuters, as it seeks to support a rapidly cooling economy and calm financial markets. While prospects of further easing will calm investors who are jittery over the effects a China slowdown could have on global growth, some...
| By: Sumanta Dey
A Q&A with Wall Street's top psychiatrist on market turmoil NEW YORK- When it seems like the stock market has lost its mind, big banks and investment firms often turn to one particular psychiatrist: Richard Peterson, CEO of MarketPsych, a firm that applies research from behavioral science to financial markets. MarketPsych's computer programs attempt to gauge the market's mood by scanning news and Twitter and other...
Source: The Associated Press
| By: By MATTHEW CRAFT, AP Business Writer
UPDATE 2-Global grain supplies to hit record high in 2015/16 -IGC *Wheat forecasts for Russia, Ukraine and EU raised. LONDON, Aug 27- Global grain supplies will reach historic highs in the 2015/ 16 season, the International Grains Council said on Thursday, a development that could make world food prices even cheaper. The IGC raised its forecasts for wheat crops in Russia, Ukraine and the European Union and also upwardly revised its...
| By: Nigel Hunt
UPDATE 1-French business morale at four-year high, but investment missing PARIS, Aug 27- French business confidence reached a four-year high in August, but a much-awaited recovery in business investment remains elusive as the euro zone's second-biggest economy struggles to gain momentum. The official INSEE statistics agency said on Thursday its business sentiment indicator edged up to 100 from 99 July, reaching a level not seen...
| By: Leigh Thomas
WRAPUP 2-China stocks jump on U.S. rally, yuan edges up *China indexes had lost more than 20 pct in days. *China tycoon says should give up "fantasy" of 7-8 pct growth. HONG KONG/ SHANGHAI, Aug 27- China's turbulent stock markets rose sharply on Thursday, helped by a strong rebound on Wall Street on expectations that the U.S.
| By: Pete Sweeney and Samuel Shen
CORRECTED-RPT-Bird flu aftershocks to drive U.S. turkey, egg prices higher But the USDA has yet to give the clearance that would allow any chicken sites in Iowa, the top egg-producing state, to bring in replacements. The USDA clears farms on a case by case basis after testing to make sure the virus has been eliminated. Minnesota and Iowa turkey farms, infected before some of the chicken farms, have begun restocking thanks to a faster cleanup...
| By: Tom Polansek