GLOBAL MARKET HIGHLIGHTS
Online Holiday Shopping Traffic Up 60 Pct-Survey 11-24-04 (Yahoo) SAN FRANCISCO (Reuters) - The online holiday season is off and running with traffic up 60 percent for the week ended Nov. 14 from the prior seven-day period, Nielsen//NetRatings (Nasdaq:NTRT - news) said on Tuesday. 
Worldwide effects of sinking dollar 11-23-04 (Yahoo) Its decline to a nine-year low is impacting everything from the price of goods at Wal-Mart to the vigor of Europe's economy. 
World Bank: Yukos Hampering Investment 11-23-04 (Yahoo) MOSCOW - A politically charged attack on the Yukos oil company and the government's apparent indecision over the country's economic course have hampered investment in Russia, the World Bank (news - web sites) said Monday in a report that stopped short of blaming the government for a summer slowdown in the economy. 
Markets fall on weak dollar fears 11-23-04 (BBC) Rising oil prices and the sinking dollar hit shares on Monday after a finance ministers' meeting and stern words from Fed chief Alan Greenspan. 
Did Tax Cuts Hurt the Dollar? 11-23-04 (Yahoo) On the contrary, tax cuts strengthen currencies, not weaken them. In America, low marginal tax rates and low capital-gains tax rates make a more inviting environment for foreign investors. These investors must first cash in their yen, euros, and yuans in order to buy dollars that they then use to purchase dollar-denominated assets. Want to create a short-term rally in the dollar? Zero out the capital-gains tax and foreigners will line up at the foreign-exchange desk to get a part of the U.S. action. 
Bush stands up for strong dollar 11-23-04 (BBC) President George W Bush has again said he is committed to a strong US dollar, the best way to reassure those concerned about the dollar's decline was to deal with his country's large budget deficit. 

 LATIN AMERICA
Half of Brazils Amazon Jungle Occupied-Study 11-24-04 (Yahoo) BRASILIA, Brazil (Reuters) - About half of Brazil's original Amazon rainforest has been occupied by man, deforested or used for industry like logging and its destruction is worse than government data shows, a leading environmental group said on Tuesday. 
Brazil, Russia sign pact on space cooperation 11-23-04 (Yahoo) BRASILIA (AFP) - Brazil and Russia signed an agreement on space cooperation here that calls for development of a launch vehicle for Brazil, production of geostationary satellites and other projects. 

 RUSSIA

Yukos hammered 11-23-04 (Financial Times) So their latest and heaviest blow - the decision announced on Friday to auction Yukos' biggest subsidiary off next month to cover some of its alleged tax arrears - can be no surprise. More surprising, at first sight, is the lack of wider collateral damage to investor confidence, except of course among Yukos' western minority shareholders who have rightly threatened to sue the Russian authorities for effectively wiping out their assets. Indeed, one western rating agency has just returned Russia to investment grade, while western oil groups such as Total and ConocoPhillips have blithely bought into other Russian energy companies. 
Court Asked to Uphold Yukos 2002 Fines 11-23-04 (Yahoo) MOSCOW - Russia's tax authorities continued their drive against the foundering OAO Yukos oil company Tuesday, asking a Moscow court to uphold some $2.5 billion in fines, Russian news agencies reported. 

 ASIA
Back to 1997? Yes, and Dont Panic 11-23-04 (Yahoo) The Korean won last week rose to 1,063.80, its highest against the dollar since November 1997, when the Asian financial crisis was heating up. Its return to such levels is a sign Asia has come full circle from the dark days of plunging currencies and economies. 

 OIL PRICES
Oil Surges to $50 on Winter Fuel Worries 11-24-04 (Yahoo) LONDON (Reuters) - Oil prices vaulted back above $50 a barrel on Tuesday as traders took out insurance ahead of weekly U.S. data on Wednesday that is expected to show only a modest increase in winter heating oil inventories. 
U.S. Gas Prices Decline to $1.95 a Gallon 11-23-04 (Yahoo) WASHINGTON - The retail price of gasoline fell for the third straight week to average $1.95 per gallon nationwide, the Energy Department reported Monday. 
Gas Prices Highest Ever for Thanksgiving 11-23-04 (Yahoo) WASHINGTON (Reuters) - U.S. drivers traveling this week will pay the highest gasoline prices on record heading into a Thanksgiving holiday, the Energy Department said on Monday. 
Oil Eases as Heating Oil Spike Subsides 11-23-04 (Yahoo) LONDON (Reuters) - Oil prices eased on Monday in profit-taking on heating oil from sharp gains last week sparked by concerns over low supplies of winter heating fuels. 
Crude Oil Prices Trade Below $49 a Barrel 11-23-04 (Yahoo) LONDON - Crude oil futures traded below $49 a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.