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Minister dubbed servant of labour movement

Declaring he wanted to "forge an industrial compact" that would lift productivity and prosperity, Senator Carr said union participation was vital to the Government's industry working groups and to planned industry innovation councils.

He also noted he was the first Industry Minister to address the AMWU since the days of the Keating Labor government and congratulated the union for handling "everything capitalism has thrown at it" since it was established in 1852.

"Remember that hope is the currency of progressive politics," Senator Carr said. "Fear and suspicion are what the other side deal in."

Senator Abetz seized on the speech to label Senator Carr a class warrior whose "socialist rhetoric" was inappropriate for a government minister.

"The future of innovation for Senator Carr is basically being a servant of the trade union movement," Senator Abetz said. more

Stocks rise on employment data, Fed borrowing plan

Oil prices fell again, adding to Wall Street's upbeat mood, and the Dow Jones industrial average rose more than 100 points.

Automatic Data Processing said private sector employment rose by 9,000 during this month. After seeing jobs disappear by the thousands in recent months, the stock market is eager for any insights into the Labor Department's take on the job market on Friday.

The Federal Reserve announced it was extending its emergency borrowing program for Wall Street banks, which reassured the market that investment banks won't suffer from liquidity problems. The central bank will also now allow commercial banks to bid on cash loans that last for 84 days, besides the 28-day loans that are now available. The original program allowing investment firms to turn to the Fed for a quick source of cash will now run through Jan. more

US stocks head for higher after employment reading

Dow Jones industrial average futures rose 78, or 0.69 percent, to 11,451. On Tuesday, the Dow rose 266 points, more than wiping out a nearly 240-point loss from the previous session.

Standard & Poor's 500 index futures rose 8.30, or 0.66 percent, to 1,270.00, and Nasdaq 100 index futures rose 15.00, or 0.81 percent, to 1,857.00.

Bond prices fell after the Fed announced its plans and as stock futures advanced. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.11 percent from 4.04 percent late Tuesday.

The dollar was higher against other major currencies, while gold prices fell.

Wall Street will continue to watch oil after it hit a two-month low Tuesday and led to the rally that more than made up for a sharp pullback in stocks Monday. more

T. Boone Pickens on Capitol Hill

Pickens has used television advertisements to call attention to his plan that would build giant wind farms in areas throughout the Midwest. That he said would not only take advantage of a renewable resource, but it these wind farms could be constructed relatively quickly.

"If the government wanted to build a grid, I mean, do it. But if they don't want to do it, I think the money is there to do it private, and so it's kind of like either do it or get out of the way, but give us the corridors to put it in and it'll be done. You could do this on a very, very fast track if you wanted it to be on," Pickens said

Pickens' testimony before the Senate Homeland Security and Governmental Affairs Committee comes in the wake of sky-high oil prices that have many calling for the country to cut its dependence on foreign oil. more

Visible World Appoints New CFO, Louis J. Desiderio

ABOUT VISIBLE WORLD: Visible World's Emmy award-winning intelliSpot solution enables television advertising to be efficiently customized, effectively targeted, and more responsive to changing audience and business conditions. Today, Visible World helps national advertisers reach consumers in over 100 million television U.S. households and across more than 1,500 major websites with intelliSpot campaigns. The intelliSpot video solution includes intelliSpot Connect, an addressable platform for multi-channel video distribution including household addressable television, intelliSpot Video, a rules-driven customization and versioning engine for video, audio, voice-over, graphics, and animation, intelliSpot Insights, measurement and optimization services, and intelliSpot Dashboard, a web-based interface for managing targeting, customization, and workflow. more

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