Dow climbs above 12,000 on solid tech earnings

Wednesday, October 18, 2006, 20:09 [IST]

NEW YORK, Oct 18 (Reuters) The Dow Jones industrial average rose above 12,000 for the first time in its 110-year history on Wednesday on solid earnings by tech companies, benign inflation data and a rise in housing starts.

Shares of International Business Machines Corp. shot up 4.3 percent to .65, making it the biggest boost for the Dow after the technology services company beat expectations with a 47 percent rise in quarterly profit.

The Dow Jones industrial average was up 92.61 points, or 0.77 percent, at 12,042.63. The Standard&Poor's 500 Index was up 8.12 points, or 0.60 percent, at 1,372.17. The Nasdaq Composite Index was up 16.73 points, or 0.71 percent, at 2,361.68.

REUTERS DKS HS1947

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Jordan jails six for plot to attack Americans

Wednesday, October 18, 2006,20:09 [IST]

AMMAN, Oct 18 (Reuters) Jordan sentenced six Islamists today to between two and ten years in jail for plotting to kill US troops in Iraq and Americans and Israelis in Jordan. A state security court in Amman also sentenced another two suspected accomplices to ten year jail terms each in absentia on charges of belonging to a Sunni militant group called ''Al Taaefa al-Mansourah'' (the Victorious sect). The court found the Jordanian militants guilty.....

UK's Blair vows to stand firm on Iraq strategy

Wednesday, October 18, 2006,20:09 [IST]

LONDON, Oct 18 (Reuters) Prime Minister Tony Blair said today there would be no shift in his strategy of keeping British troops in Iraq until homegrown forces were capable of ensuring security, despite mounting criticism. Blair, Washington's staunchest ally in the war that ousted Saddam Hussein, said UK soldiers would withdraw progressively from the war-torn country but to pull out immediately would be ''disastrous''. ''It is our policy to withdraw progressively from Iraq as the.....

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Afghan kidnappers demand convert swap, fighting rages

Wednesday, October 18, 2006,20:09 [IST]

KABUL, Oct 18 (Reuters) The kidnappers of an Italian photojournalist have demanded Italy hand over an Afghan who converted to Christianity from Islam by midnight Sunday in return for the hostage's release, a Web site said. Gabriele Torsello was taken by five gunmen last Thursday in the violence-plagued south of the country. Afghan police say he is being held by the Taliban, but the group has denied any involvement, blaming criminals. The kidnappers did not.....

Teva says CEO Makov to retire in 2007

Wednesday, October 18, 2006,20:09 [IST]

NEW YORK, Oct 18 (Reuters) Teva Pharmaceutical Industries Ltd. on Wednesday said Chief Executive Officer Israel Makov has announced plans to retire during 2007. Makov, 67, will be replaced by Shlomo Yanai, who will join the company as president and CEO-designate during the first part of 2007, the Israel-based generic drug maker said. Yanai will join Teva from Makhteshim Agan Industries Ltd., a manufacturer and distributor of generic crop protection chemicals, Teva said. ''Today's.....

McAfee says Microsoft fails to keep EU bargain

Wednesday, October 18, 2006,20:10 [IST]

BRUSSELS, Oct 18 (Reuters) Microsoft has failed to keep its part of a new bargain to cooperate with security software companies, falling short of commitments to the EU, one of the security firms, McAfee, said on Wednesday. Microsoft has had a long-running legal battle with Brussels over its software and last week promised the European Union's executive Commission it would alter its new Vista operating system to enable rival firms to develop ancillary software......