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Bahama Islands News, Articles and Information
High Core Inflation Means The Fed Has Unfinished Business
It's likely to be a long, hot summer for the Federal Reserve, with the latest retail inflation data showing price gains continuing to speed up.The May consumer price index rose 0.4% from April, the Labor Department said Wednesday. Prices rose 4.2% on the year, the most since gasoline prices soared in September after Hurricane Katrina.
Surging pump prices were the main culprit again in May.
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Tom Cruise and Katie Holmes wanted more than $3m for pictures of ...
Apparently an exclusive photo shoot featuring Suri with mum Katie Holmes and dad Tom Cruise was offered just after the baby was born in April and an auction between the main celebrity magazines was conducted. However, when bidding didn't exceed $3million, the offer of the photos was rescinded.The $4million offered for exclusive pictures of Shiloh Nouvel Jolie-Pitt was quite exceptional, according to an inside source: "Shiloh was the whole deal. We won't see a baby like that again for a while."
.Babak gets support
Prominent businessman Michael Edwards voiced strong support of the Grand Bahama Port Authority's (GBPA) appointment of Hannes Babak as chairman yesterday, saying it is a favourable move.Noting the many debates and discussions surrounding the new position of Babak, a businessman and licensee of the GBPA, Edwards said he has no difficulty with the appointment whatsoever.
"I am advocating anything that the Port Authority or the government of The Bahamas makes that would impact positively the lives of the citizens of Grand Bahama," Edwards stated.
As president and director of Island Chain Investments Ltd., the local businessman said the accomplishments of Babak prove he is the right individual for the job.
"I think Mr Babak has demonstrated his ability to generate financial and economic activities.