Happy Anniversary Prince William And Kate Middleton: Unfolding The Royal Love Story A Year After [PHOTOS]

Kate Middleton in Wedding Dress

Britain's Prince William and his wife Catherine kiss as they stand next to bridesmaid Grace van Cutsem in central London

Kate Middleton with Her Man by Side

AT&T eyes cheaper plans for iPhone, other phones

AT&T Inc is considering offering cheaper data service plans with limited Web surfing for advanced cellphones including Apple Inc's iPhone.

Ralph de la Vega, the head of AT&T Mobility, told the Reuters Global Technology Summit in New York on Tuesday that it would be costly for AT&T to cut the price of its unlimited Web surfing service, which currently costs at least $70 for iPhone users.

Instead, AT&T could offer more limited Web surfing on cellphones for a lower fee, similar to its trial offer of 200 megabytes of data downloads for wireless netbook users for $40 a month in Atlanta and in Philadelphia.

Right now we continue to study what is the best thing that is available, not just from an iPhone point of view, but what you can do to stimulate additional demand, said de la Vega, who is responsible for all of AT&T's consumer sales along with his role as chief executive of the mobile business.

(For summit blog: http://blogs.reuters.com/summits/)

(Reporting by Sinead Carew, editing by Tiffany Wu)

Daily Foreign Exchange Market Summary 19/05/09

The US dollar initially weakened after the release of declining U.S. housing starts had investors worried that the worst of the global financial crisis remains, but soon gained some momentum on safe-haven movement. Housing starts came in 13 percent lower to an annual rate of 458,000 following last months figure of 525,000, while building permits fell 3.3 percent to a record low of 494,000.

In other news this week the Fed will be responding to the request by Goldman and Morgan Stanley to apply to repay a combined $45b in TARP funds, which will continue to push equity markets higher. Also the market will look towards tomorrow's release of the Fed. minutes. Look for the dollar to trade primarily off of equity market moves as investors look for opportunities to move back into riskier assets.

The euro initially rose, but soon fell off its highs hit earlier today despite the release of stronger than expected German ZEW figures. ZEW came in at 31.1, the highest reading in three years and well above expectations for a reading of 20. Analysts will look towards Thursday for the PMI report for further direction into the Eurozone economy. Look for the euro to continue to test its high this year of 1.3739.

Sterling rose broadly against its US counterpart assisted by London's FTSE index which was up 1.4 percent today. Helping the push higher was a sharp move in bank stocks as Britain held talks with investors to gauge their interest in buying a stake in the nationalized lenders.

The Japanese yen weakened against the dollar as Japan's Vice

Finance Minister Sugimoto intervened verbally stating that “excessive moves” in currencies are undesirable and have a negative impact on the Japanese economy. The market will look towards tomorrow's release of Q1 GDP, where expectations are -4.3 percent. Look for USD/JPY to remain under pressure continuing to test 100.

The Canadian dollar strengthened against the greenback as higher equities and stronger commodities supported the local currency. Look for the Canadian dollar to extend its rally as oil and gold remain well supported and risk appetite holds.

The Australian and New Zealand dollars continued to push higher with Aussie hitting a seven-month high against its US counterpart as rallying equities and rising commodity prices dominated the market. Also assisting the local currency was comments from Reserve Bank of Australia Governor Glenn Stevens where he stated that Australia's overnight lending rate of 3.0 percent remains pretty low, “ speculating that a move higher may be coming.

The Mexican peso strengthened against the dollar and broke below the key psychological level of 13.0000 as renewed interest in risk appetite dominated market sentiment. Look for the peso to continue to test its high of 12.9745, hit last November as the Bank of Mexico scales back its intervention due to reduced volatility.

Indicative rates:

EUR/USD 1.3633

USD/JPY 95.92

GBP/USD 1.5524

USD/CAD 1.1534

USD/MXN 12.9716

USD/CHF 1.1106

AUD/USD 0.7773

NZD/USD 0.6035

USD/DKK 5.4708

USD/SEK 7.6970

USD/NOK 6.4456

USD/TWD 32.820

USD/CNY 6.8245

10-Year Treasury Note Yield : 3.269%

Dow Jones Industrial Average : 8,522.95 + 18.24

Sport of kings looks to China's elite

Asia's first ever snow polo tournament went into its second day on Wednesday at China's newest and largest polo club, with six top global teams promoting the luxury sport to the nation's new and growing ranks of wealthy.

Though an early form of polo was once popular with China's upper classes during the Tang dynasty more than a thousand years ago, the sport of kings died out almost entirely until a recent surge of interest in foreign sports seen as being high class.

The first generations of new wealthy spawned by China's economic reforms are likely to view golf, red wine and Ferrari as symbols of prestige, but many of the newer generation are looking for something more.

We have so many international players from all over the world coming together in this area, Chevy Beh, a 23-year-old player on the Hong Kong team, told Reuters Television.

I think that is a good way to promote polo in China. The Snow Polo Challenge, which kicked off on Tuesday, is being held on a pitch covered with artificial snow in the Goldin Metropolitan Polo Club in Tianjin, an industrial port city 90 minutes drive from Beijing.

Teams from England, Argentina, France, Australia, New Zealand and Hong Kong galloped through the powdery snow, watched by business executives, government officials and invited media.

With no home-grown team, mainland China is represented by the polo team from Hong Kong, the former British colony, where polo is played avidly.

I don't think it's that common yet, said Qiu Yuanyuan, a business development officer from HSBC bank.

There may be a lot of high-level people who have made a lot of money very quickly, but that doesn't mean they have reached a level of culture where they can appreciate this.

Some recent attempts at launching polo clubs in China have been criticized for lacking expertise, with observers suggesting they were nothing more than window-dressing for high-end property developments.

Rowland K. Wong, the Singaporean president of Tianjin Goldin Metropolitan Polo Club, was happy for the club to add value to the unfinished real estate that looms over it. He and his company say they have invested 10 billion yuan ($1.5 billion) in the development, which includes high-rise apartments and villas.

The club, housed in a vast neo-classical style hotel with 167 gold and marble-clad rooms, is reaching completion at the center of the 220-acre site.

Members can wine, dine, enjoy bespoke spa treatments and take a dip in the marble pool, yet to be filled. Membership starts at 380,000 yuan ($58,000) and rises to 10 million yuan ($1.5 million) for patrons who own their own teams.

The club has 60 horses of its own, imported from Australia, and members' horses can be stabled in a state-of-the-art block with central heating, an insecticidal fogging system and an indoor arena for schooling.

The club declined to say how many members it has so far, but Derek Reid, the head polo professional at the club, said he was confident of the Chinese market.

I think once the Chinese start riding and playing polo, there's enough resources in China that we can get enough people involved, he said.

Polo's the game of kings and it's still the king of games.

Kate Middleton with Her Man by Side

Prince William, Kate Middleton Wedding Anniversary

Britain's Prince William and his wife Catherine, Duchess of Cambridge arrive for a charity dinner at Kensington Palace in London

Britain's Prince William and Catherine, Duchess of Cambridge arrive for the British Premiere of "African Cats" at the BFI Southbank in London

Duchess of Cambridge with Prince William

Kate Middleton in Casuals

Kate Middleton with Her Man by Side

Gold Technical Precious Metals (2011-02-17) Trading Idea

Morning Report

The bullish harmonic butterfly proved its efficiency, pushing the metal towards the second technical target of this harmonic structure at 61.8% of CD leg. The price is stable above SMA 20 and SMA 50, while we see several attempts to breach this level at 1380.00 and once it breaches it, the path will be cleared for achievingadditional bullishness towards 76.4% of CD leg at 1395.00. Momentum indicators are showing overbought signs and that increases the solidity of the aforesaid level. The stability above 1358.00 may assist the metal to reach the first extended technical objective.

The trading range for today is among the key support at 1348.00 and key resistance now at 1402.00.

The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1485.00 remain intact.

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