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The euro crossed the symbolic benchmark of parity with all the U.S. dollar on Monday, rising into a rate of $1.0026 — its highest value since February 2000 — amid worries over American stocks.The joint European currency, which was trading earlier in the visit to 99.3 cents, has been hovering near one-to-one with the dollar for weeks. They have now risen 15 percent since beginning its rally in early April.The decline of U.S. stocks along with a series of scandals about the trustworthiness of earnings reports are a major force driving the dollar down, based on economists. That, more than any new conviction regarding the strength of the economy inside the 12 nations that use the euro, has fueled the normal currency's rise.The dollar's weakness is a mixed blessing for the United States, the world's biggest economy. It means costlier European vacations and imports for Americans, but eases price disadvantages for U.S. manufacturing exporters, who have complained about the strong dollar for months.The strong euro also relieves inflationary pressure in Europe by making imported goods and energy cheaper.The euro has risen from about 87 cents at the begining of April. It hit its all-time high shortly after its launch on Jan. 1, 1999, then again began to slide, falling with the $1 mark in February 2000 and hitting an increasing low of 82.30 cents in October 2000.Foreign investors' eagerness to buy U.S. stocks in the boom of the late 1990s was something that kept the dollar high against foreign currencies, because investors need dollars to acquire U.S. investments.For decades, that was enough to counterbalance the huge U.S. current account deficit, the broadest way of foreign trade, running at $417 billion a year ago and showing no symbol of abating this year. When Americans buy more from overseas compared to what they can sell, that puts downward pressure around the dollar.Touching the parity mark with all the dollar is a psychological boost for your euro, which in the past staged several tentative rallies that always fizzled.The euro's supporters had hoped it could challenge the dollar because the favored currency of investors and central bankers, and parity could provide them with a public relations boost.Economists caution that despite euro's rally, there is little change encouraging economic news through the 12 countries using the shared money. Development in the euro zone was an anemic 0.2 percent within the second quarter, though most economists predict a pickup in the second half of this year. uggs sale clearance
Iran's provincial governors escalated the dispute over next month's elections by declaring Wednesday they might not allow polling unless conservative clerics reverse their disqualification of liberal candidates.While Iran's supreme leader Ayatollah Ali Khamenei has the power to overrule the governors, their declaration points too if the hard-liners do not back down, they'll have to resort to extraordinary measures to carry legislative elections set for Feb. 20.The conservative Guardian Council has disqualified more than a third of 8,200 candidates — them all liberals and including 80 sitting lawmakers. The move has triggered Iran's biggest political crisis in years, with reformers accusing conservatives of trying to skew elections."All provincial governors have announced unanimously that, under present circumstances, gone will be the possibility of holding elections," Interior Ministry spokesman Jahanbakhsh Khanjani told The Associated Press.He said the governors made the decision at a meeting in Tehran that ended on Wednesday night.Earlier Wednesday, Iran's largest gang of pro-reform students urged people to boycott next month's elections to protest the disqualifications. It had been the first time any political group has required a boycott since the crisis erupted.President Mohammad Khatami tried to head off a boycott of the legislative elections on Feb. 20, telling reporters he would strive to reverse the disqualifications down to the past unfairly treated candidate."There isn't any possibility of fair and free elections," a student movement, the Office for Fostering Unity, said in a statement carried on the official Islamic Republic News Agency."Considering that people's vote does not have any affect on the establishment, and there is no way to hold fair and free elections, there is no justification for people to participate within this election," the students said within their statement.The students praised reformist lawmakers who had been staging sit-in protests in the parliament building since clerics announced the disqualifications recently."Just as they've sincerely resisted and have sworn to defend the nation's rights, they may be expected to resist participating in such (sham) elections," the scholars said of the legislators.By Ali Akbar Dareini ugg sizes
Kevin Murphy, MD, of the Midwest Asthma and allergy clinic, conducted a recent study on asthma patients for GlaxoSmithKline. "We have never seen problems with the drug," according to him. "Those patients who were treated with Relenza actually had improvement of breathing during the first 5 days of therapy compared with those who received no treatment." tall black ugg boots
The Food and Drug Administration (FDA) approved a Lyme disease vaccine a short while ago for use in people between the ages of 15 and 70. But a majority of doctors won't prescribe the vaccine to anyone, irrespective of their age. Some studies have linked it to serious long-term complications including chronic joint pain. new ugg boots
Investigators said Tuesday there wasn't enough evidence to indicate that U.N. Secretary-General Kofi Annan knew of the contract bid by his son's employer to the oil-for-food program in Iraq. However, they criticized the U.N. chief due to properly investigating possible conflicts of curiosity in the matter.Asked if he was about to step down in a reply to the program, Annan replied, "Hell, no."The report released Tuesday accused the corporation, Cotecna Inspection S.A., and Annan's son, Kojo, of trying to conceal their relationship following your contract was awarded. It criticized Kofi Annan for conducting merely a one-day investigation into the issue, and faulted his treating the world body.The investigation led by former U.S. Fed Chairman Paul Volcker did not accuse the U.N. chief of corruption or some other wrongdoing. But its conclusion fell well short of the clear vindication that the secretary-general had wanted.However, Annan said he was happy with the report's findings he committed no wrongdoing."After numerous distressing and untrue allegations have been made against me, this exoneration from the independent inquiry obviously provides a great relief," Annan told reporters.CBS News Foreign Affairs Analyst Pamela Falk asserted while the report "stops short of accusing the secretary-general of monetary gains in the scandal, it makes damaging accusations about Kofi Annan's failure in order to avoid his own son from being involved with corruption and conflicts appealing."Stacked up with the recent admission by Kofi Annan he met on several occasions with officials from Cotecna – the Swiss company active in the scandal – and that incriminating documents were destroyed by Annan's staff, the report is yet another blow to U.N. credibility," Falk said.With a press conference after the report was released, Volcker said there wasn't enough evidence to suggest that Kofi Annan knew about the process in which Cotecna was selected for an inspection contract within the oil-for-food program, or that he attemptedto influence it."Our investigation has disclosed several instances where he might, or could have become aware, of Cotecna's participation in the bidding process," Volcker said. "However, there is neither convincing testimony fot it effect nor any documentary evidence." no previous page next 1/2 ugg australia cheap
Fashion consultant Alison Deyette explained to CBS News Today how to keep warm in vogue, as some young women and men modeled the most recent in outwear from New York City's Central Park. Your coat is not just armor against the blustery weather, it is the first thing people notice in regards to you, so be sure to make a good first impression, says Deyette.This season's coats all fall across the knee. They have the warmth of your coat, the ease of a jacket and also the versatility for wearing to work or for play. But there are several other options, from comfy warm wraps to ponchos, she adds.Ensure that you choose your coat(s) wisely since it is a big investment. Look for well-made coats that will last a few seasons, she suggests.Listed here are some of Deyette's suggestions:Take a look at the most up-to-date in outerwear.Click Here!Pashmina wraps or shawls: They're made of supersoft cashmere and can be worn with everything coming from a business suit to an evening dress. They're one of the most versatile additions to your wardrobe, says Deyette. Poncho: Cozy ponchos and blanket coats are among this season's key pieces. Puffy and quilted: Sporty, puffy quilted coats and vests remain a hot trend. They not simply look great, but they also provide extra warmth for cold days, she says.Long coats: Belted coats were seen all around the fall runways. The key for this modernized trench is a thick belt worn slightly higher than your natural waist. A cinched waist also adds a sexy flair, she notes. The majority of the models walked with a dog. Each of the pooches are up for adoption from The big apple City's Center for Pet care and Control. Visit its Web site at www.allny.com.©1999 CBS Worldwide Inc. All Rights Reserved ugg sale outlet
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