| Business Briefs
NEW YORK — Wall Street managed a moderate gain in an erratic session Wednesday as investors sorted through a downbeat Federal Reserve report and were disappointed by a plan to bail out bond insurer Ambac Financial Group. The Fed's assessment of regional economies indicated growth at the start of the year was sluggish and accompanied by rising price pressures. Meanwhile, Ambac said it plans to issue more than $1 billion in common stock to help shore up its battered balance sheet. Investors had hoped for a contribution from global banks. The Dow Jones industrial average rose 41.19, or 0.34 percent, to 12,254.99. Broader indicators rose. The Standard & Poor's 500 index added 6.95, or 0.52 percent, to 1,333.70, while the Nasdaq composite rose 12.53, or 0.55 percent, to 2,272.81.
Stocks Rise On Manufacturing Report - U.S. Commentary
(RTTNews) - Stocks are seeing considerable strength in morning trading on Thursday, as investors are picking up stocks at reduced levels following yesterday's sell-off. The positive sentiment has been boosted by a better than expected manufacturing report. Manufacturing activity in the mid-Atlantic region saw continued weakness in the month of March, according to a report released by the Federal Reserve Bank of Philadelphia earlier in the session, although the pace of contraction in the sector slowed compared to the previous month. The report showed that the index of current activity improved to a negative 17.4 in March from a negative 24.0 in February, with a negative reading indicating a contraction in the manufacturing sector. Economists had been expecting the index to come in at a negative 18.0.
New-age shopping
Tired of the usual shopping malls and flea markets? Here are a few places where shoppers can beat the crazy weekend traffic and uncover a treasure trove of purchases. Stories by LOUISA LIM
louisa@thestar.com.my How many times have you heard that Kuala Lumpur is a shopper�s paradise, but have never really believed it? Sure, there are many gigantic, all-in-one shopping malls in the Klang Valley alone, but is it enough to earn our city the status of a shopping mecca? As a certified shopaholic who�s shopped her way across the globe, I�ve always lamented the fact that shopping in KL lacks soul. Bangkok has Chatuchak. Los Angeles has gorgeous vintage stores. And Paris has old shopping galleries full of lovely, quaint shops. Except for its weekly pasar malam (translation: retail therapy in oppressive, conditions, with the risk of being groped by a stranger) and the many malls, KL is, in comparison, bereft.
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