Diberdayakan oleh Blogger.

Popular Posts Today

Dow gets ‘emotional’ boost on possible deal

Written By Unknown on Sabtu, 12 Oktober 2013 | 20.25

As Washington moved closer to a deal on lifting the debt ceiling and ending the shutdown, stocks rose yesterday to their highest level since September, but that was an "emotional reaction" and it's too soon to assume the government can avoid a default, experts said.

The Dow Jones industrial average rose 111 points yesterday, after hitting its biggest gain of the year Thursday, an increase of 323 points. Earlier this week, the Dow dipped below 15,000, reacting to speculation that the government could default on its debt.

Yesterday, the big boost was news of proposals from both House and Senate Republicans offering to reopen the government and raise the debt ceiling as well as "constructive" talks between the two sides, as Obama's press secretary Jay Carney put it.

"This whole thing is an emotional reaction," said Christine Armstrong, vice-president at Morgan Stanley in Boston of the gains on Wall Street. "It is based on a rumor that Congress is going to do their job, and why would that be good news?"

Kim Forrest, an equity research analyst at Fort Pitt Capital Group in Pittsburgh, said nothing is guaranteed.

"That's super that they're talking to each other, but what on Earth is the agreement going to look like, and is it going to stave off default? I don't think we know that yet," Forrest said. "I think the stock market is getting ahead of itself."

House Majority Leader Eric Cantor said Republicans were still waiting to hear from the president on the proposals that included easing across-the-board spending cuts and changes to Obamacare.

Still, Carney said the president has some "concerns" with the proposal. Republican leaders said talks would likely continue.

Armstrong said if there is no deal when Wall Street expects, the effects could be significant.

"There's still a lot of land mines out there," she said.

The shutdown, said Armstrong, must be resolved as soon as possible to avoid long-term damage to the economy.

"We expect that people may lose a fifth of their 401ks if this continues to play out badly," she said.

Economic growth and holiday shopping also could be significantly hurt by a shutdown that lasts much longer.

Gov. Deval Patrick, in a letter to state employees, said layoffs for federally funded positions were "not imminent," but said the state is still trying to determine when it may have to take action.

Herald wire services contributed to this report.


20.25 | 0 komentar | Read More

Facebook, Google hit on changes

Privacy advocates were dealt a one-two punch as Google announced plans to sell some of its users' information for use in ads, and Facebook said it's removing the privacy setting for Timeline searches.

Google yesterday said beginning Nov. 11, some of the ads it displays will include users' names, photos and endorsements they've made on Google services.

Google did not return calls, and Facebook declined to comment. Marc Rotenberg, executive director of the Electronic Privacy Information Center, said users "should not have to restore their privacy defaults when Google changes its business model."

And Facebook announced it's finishing removal of a setting that controls if Timelines can be found with a name search.


20.25 | 0 komentar | Read More

Building company owes $37G for wage, payroll violations

A construction company building a high-profile South Boston apartment building was fined $12,000 yesterday by the attorney general's office for a variety of unpaid wages and payroll violations.

J.R. Construction & Drywall of Fall River — hired to build 11 West Broadway above the Broadway T station — failed to keep accurate payroll records and pay stubs and make timely wage payments, and misclassified employees as independent contractors, according to four citations issued by Attorney General Martha Coakley. The company was also ordered to pay $25,480 in wages directly to five workers.

"At a time when many people are struggling financially, it is crucial that workers are paid the wages they are rightfully owed under the law," Coakley said.

But owner Anthony DeLima told the Herald he plans to appeal the fines and insists he paid the workers a long time ago.

"Where am I going to get (it)?" DeLima said, referring to the fine. "I don't make that money."

The five workers — some of whom are illegal immigrants — were represented by the New England Carpenters Union, which views the violations as an example of the growing underground economy in the region.

"The underground economy is a serious problem even in the heart of the city," said Mark Erlich of the New England Carpenters Union. "It's bad for the industry, bad for workers and employers, and bad for taxpayers."

Erlich said the union will continue to file unpaid wage complaints on behalf of workers and hopes Coakley's fines will send a message to other bosses.

"When the AG steps in and deems an employer to have violated the law," Erlich said, "I think that resonates beyond this one particular case."


20.25 | 0 komentar | Read More

History comes alive in Salem

This elegant single ­family in Salem's beautiful ­McIntire Historic District is on Chestnut Street, itself a National Historic Landmark lined with grand ­antique homes.

This area of 407 homes and carriage houses is named after Salem architect Samuel McIntire (1757-1811), who designed many Federal-style homes here, including his own.

The home at 46 Chestnut St. was built later, in 1870, as one of two attached single families in the French-influenced Second Empire style. It has a gray clapboard exterior (recladded in 2008) with black shutters and a mansard roof. A white columned entryway leads through frosted glass doors into an oak foyer/hallway.

To the left is a formal living room with 6-foot-high windows and an original white marble fireplace mantel and metal grate used as a heating vent. The adjacent sunny dining room has a three-sided bay window bumpout and a wood-burning fireplace with its original gray marble mantel.

You pass through a pantry with 10 cherrywood cabinets, a marble backsplash and sink on the way to the kitchen, which was redone in 1997, along with an adjacent updated half bathroom.

The recessed and pendant-lit kitchen has brown ceramic tile floors, 24 cherry­wood cabinets and Formica counters that also cover a center island. ­Appliances include an older black General Electric wall oven and an off-white RCA/Whirlpool refrigerator as well as a dishwasher added last year.

The highlight of the kitchen is a full-wall glass window with French doors that brings in lots of sunlight and opens out onto a restored side deck. Stairs lead down to a charming, fenced-in brick patio and an adjacent garden. A driveway beyond, which holds two cars, was just redone in brick, and outdoor lighting was added. The house is on a small lot, however, and there are no front or back yards.

Back inside, a winding staircase with an original rail and newel post leads up to the second floor. There are two oak-floored bedrooms here, one a good-sized master bedroom, the second a smaller guest bedroom. Across the hall sits a full bathroom completely redone in 2000 with a green marble floor, white tile walls, a Fiberglas walk-in shower, a stained-glass window and half-wall wainscoting.

Also on this floor is a handsome family/sitting room with oak floors, a wood-burning fireplace with a white marble mantel and built-in bookcases. There also are built-ins in a long, narrow home office down the hall, that features a three-bay window seating alcove.

The current owners added three carpeted bedrooms and a bathroom on the third floor in 2000, installed a wood floor in the hallway in 2008 and electric heaters in 2010. The bedrooms are average to small in size, but one has a large area of prebuilt wardrobe cabinets. The stylish full bathroom features black marble floors and a white tile surround for a raised deep soaking tub. There's a pedestal sink and a granite-topped vanity area.

The home's full basement features lots of storage space, a laundry room, a home workshop and a half bath updated in 2005. It also holds the home's heating system replaced with natural gas in 2000, as well as central air conditioning added the same year.

Broker: Philio Cushing of Coldwell banker Residential brokerage at 978-882-4194.


20.25 | 0 komentar | Read More

The Ticker

Raytheon wins big defense contract

Raytheon Co. beat out Lockheed Martin Corp. and Northrop Grumman Corp. for a contract that could be worth as much as $1.6 billion to design and build air and missile defense radars for the Navy's newest DDG-51 destroyers, the service announced.

Raytheon was awarded a $386 million contract to build and test engineering development models, with an option for procurement of as many as nine radars that would bring the contract's total to $1.6 billion, the Navy said in a statement.

Intelligent.ly to move to Seaport

Intelligent.ly, a professional development firm for startups, is the latest company to announce a move to Boston's Innovation District.

Intelligent.ly, which offers classes to entrepreneurs to increase their skills, will move from Harrison Avenue in the South End to the headquarters of Communispace on Congress Street in South Boston, calling it a more central location.

"We definitely believe that it's going to help us draw more learners to our classes," said co-founder Sarah Hodges.

The company will move Oct. 15.

AT&T cuts options on data share plan

AT&T Inc. plans to only sell its new customers Mobile Share plans, which involve higher data fees but allow subscribers to share their data allowance among multiple devices.

The No. 2 U.S. mobile operator said yesterday that the elimination of its older plans for new customers would take effect on Oct. 25. It said it was streamlining its offerings because the data-share plans are its most popular.

TV cos. petition Supreme Court to shut down Aereo from streaming

The nation's biggest television companies including ABC, CBS, NBC and Fox are asking the Supreme Court to shut down Aereo Inc., a startup distribution service that they view as a threat to their business.

Launched in 2012 and available in a handful of markets including Boston, Aereo transmits the signals of local broadcast stations to consumers via the Internet. Aereo charges its subscribers between $8 and $12 a month for the service, which includes a small antenna to receive the signals and access to a cloud-based digital video recorder that can hold up to 40 hours of programming.

THE SHUFFLE

  • Goodwin Proctor announced that Gregg L. Katz, left, has been made partner. His practice centers on securities offerings, mergers and acquisitions, SEC compliance and general corporate representation.
  • Schneider Associates, a Boston-based public relations agency, announced the promotion of Tom Ryan to vice president and director of integrated marketing and creative for the InGROUP.

20.25 | 0 komentar | Read More

Providence offers buyers more home for the money

Written By Unknown on Jumat, 11 Oktober 2013 | 20.25

Providence is a small-town city with a lively culture and arts scene that has a lot to offer less than an hour from Boston.

Institutions of higher learning, including Brown University, the Rhode Island School of Design and Johnson & Wales, give this city an academic and artistic vibe. Unpretentious, charming and affordable, Providence continues to evolve, with its revived downtown and thriving food scene as well as cutting-edge restaurants and boutiques on the East Side.

When Kaitlyn Roberts and Jameson McNeill decided to get married a few years ago, they were living between Boston and Providence. The couple knew they could get a lot more for their money in Providence compared to Boston.

"We began our search within a half-mile of the Providence train station, which could take Jameson within 45 minutes direct to South Station," Roberts said. "We ended up with a stunning Victorian-style home with five bedrooms and three bathrooms, on one of Providence's most historic streets, Prospect Street. For the amount we invested in our current home, we would have been lucky to have gotten a one-bedroom in Boston's Back Bay."

The average price of a two-bedroom condo in the 1,500- to 2,000-square-foot range in the Back Bay is about $1.7 million. While in the South End, if there are even any larger two-bedroom homes available, the average price runs over 
$1 million.

The Providence housing market offers buyers a lot more home for their money without skimping on luxury or convenience.

Nancy Markham and Kevin Fox of Residential Properties Limited are the listing brokers of two remaining luxurious loft-style condominiums in the Wayland Square neighborhood of Providence's East Side at 77 South Angell St. that would rival any Boston boutique development.

Unit 301 is a 2,296-square-foot, two-bedroom-plus-study home with two-and-a-half baths and private balcony listed for $974,500. Unit 302 has a similar layout with 1,890 square feet listed for $665,000. Both homes have hardwood floors, a gas fireplace, a high-end kitchen appliance package, walk-in closets and heated garage parking for two cars.

The building is new with state-of-the-art sound-proofed construction, and all 11 units in the building have high efficiency gas heating and central air conditioning.

Marc and Kathryn Dunkelman lived in Washington, D.C., for several years before moving to Providence's East Side last month. As a consultant, Marc Dunkelman could have chosen a number of cities to live in as long as they were a train ride away from New York City for meetings.

The Dunkelmans looked at New Haven, Boston, Baltimore, Philadelphia and Providence.

In the end, they chose Providence because it was a city where they could walk to restaurants, shops and the theater.

"We live in the Wayland Square neighborhood and it really has a small-town feel," said Kathryn Dunkelman.

"The week we moved in, six families welcomed us to the neighborhood with gifts and baked goods."

There will be an open house at 77 South Angell St. for Units 301 and 302 in Providence this Sunday from 2:30 to 4 p.m. Jennifer Athas is a licensed real estate broker. Follow her on Twitter @Jenathas.


20.25 | 0 komentar | Read More

The Ticker

Gov OKs construction of Salem power plant

The Patrick administration has signed off on construction of a new 692-megawatt gas-fired power plant on the site of the existing Salem Harbor Station.

The facility is expected to be one of the most efficient and lowest-emitting large gas-fired power plants in New England, Energy and Environmental Affairs Secretary Rick Sullivan said yesterday.

The new plant, owned by Footprint Power LLC, is expected to be built and operational by June 2016.

BlackBerry founders weigh taking over distressed smartphone co.

BlackBerry founders Mike Lazaridis and Douglas Fregin are weighing taking over the distressed smartphone company as it searches for a savior. Lazaridis said yesterday in a filing with the Securities and Exchange Commission that he and Fregin are looking to potentially acquire the 92 percent of the shares they don't currently own, either by themselves or with other interested parties. They have hired Goldman Sachs and Centerview Partners to help them explore options.

Backlog, shutdown blamed for
spike in jobless claims last week

The number of people applying for U.S. unemployment benefits jumped by 66,000 last week to a seasonally adjusted 374,000. But the spike was largely because California processed a huge backlog of claims and the partial government shutdown prompted some companies to cut jobs.

The Labor Department said yesterday that the less volatile four-week average rose 20,000 to 325,000. The sharp increase in both the weekly figures and the four-week average comes after applications hovered near a six-year low the previous week.

Today

 JPMorgan Chase & Co. reports quarterly financial results before the market opens.

 Wells Fargo & Co. reports quarterly financial results before the market opens.

 LTD Bank has promoted Helge G. Liedtke, left, to store manager of the branch in Mansfield. An assistant vice president, he is responsible for new business development, consumer and business lending, managing personnel and overseeing the day-to-day operations.

 SynapDx Corp., a diagnostic company developing an innovative blood test for the early detection of autism spectrum disorders, announced that Kevin Hrusovsky has been appointed to its board of directors.


20.25 | 0 komentar | Read More

Markets soar on move to spending deal

The possibility of a deal to avert a government default sent stocks soaring yesterday, as President Obama and congressional Republicans met at the White House, capping an up-and-down day that saw Republicans floating a compromise the president appeared amenable to.

After Speaker John Boehner and other Republicans met with Obama last night, Majority Leader Eric Cantor said, "We expect further conversations tonight," while the White House called it a good meeting but said "No specific determination was made."

Boehner earlier proposed extending the government's ability to borrow money for six weeks if Obama agreed to negotiations on spending cuts. White House spokesman Jay Carney said the president "would likely sign" a short-term extension.

The Dow Jones industrial average rose 323 points on that glimmer of hope.

"The one thing that needs to happen is they need to raise the debt limit and avoid a default," said Paul Edelstein of IHS Global Insight in Lexington. "The markets will rally even further if they can reach a short-term agreement."

It wasn't all rosy, though. Senate Majority Leader Harry Reid declared the compromise was "not going to happen." Reid advanced legislation to simply raise the debt limit, which Republicans are likely to block.

The closer the nation comes to the Oct. 17 default deadline, the more roiled markets will become, said Robert A. Nakosteen, a professor of economics at the UMass-Amherst Isenberg School of Management.

"One of the remaining issues is how this country is lurching from one near crisis to the next near crisis," Nakosteen said.

Herald wire services contributed to this report.


20.25 | 0 komentar | Read More

Jury: Toyota not liable for death of Calif. woman

LOS ANGELES — A verdict clearing Toyota Motor Corp. in the death of a California woman whose 2006 Camry apparently accelerated despite her efforts to stop could bode well for the Japanese automaker as it faces similar cases.

Jurors deliberated for about five days before reaching their decision and concluding the vehicle's design didn't contribute to the death of 66-year-old Noriko Uno, who was killed in August 2009 when she was struck by another motorist, sending her vehicle into a telephone pole and tree.

The outcome of the so-called "bellwether" case could influence whether Toyota should be held responsible for sudden unintended acceleration as part of a larger group of lawsuits filed in state courts. Another case began in Oklahoma this week and there are more than 80 similar lawsuits filed in state courts.

Uno's family was seeking $20 million in damages, claiming that the crash could have been avoided if Toyota had installed a brake override system. The jury found the motorist, now 90 years old, who ran a stop sign and hit Uno should pay the family $10 million, plaintiffs' attorney Garo Mardirossian said.

Toyota blamed driver error for the crash.

The company recalled millions of vehicles worldwide after drivers reported some Toyota vehicles were surging unexpectedly. It already has agreed to pay $1 billion in lawsuits filed in federal courts.

"As an important bellwether in these consolidated state proceedings, we believe this verdict sets a significant benchmark by helping further confirm that Toyota vehicles are safe with or without brake override," Toyota spokeswoman Carly Schaffner said.

Mardirossian argued Toyota made safety an option instead of a standard by not installing a mechanism to override the accelerator. He added the automaker also failed to warn customers what to do if an accelerator became stuck.

Toyota defended its vehicles, saying it had a state of the art braking system and argued an override component would not have prevented the crash. The company's lawyers said Uno likely mistook the gas pedal for the brake.

Toyota has blamed the driver, stuck accelerators or floor mats that trapped the gas pedal for the sudden unintended acceleration claims that led to the massive recall of its vehicles.

The verdict adds to the list of the automaker's court victories. In 2011, a federal jury in New York found the automaker wasn't responsible for a 2005 crash that the driver blamed on the floor mats or defects with the electronic throttle system.

The Toyota litigation has gone on parallel tracks in state and federal court, with both sides agreeing to settlements so far. A federal judge in Orange County is dealing with wrongful death and economic loss lawsuits that have been consolidated.

Federal lawsuits contend that Toyota's electronic throttle control system was defective and caused vehicles to surge suddenly. Plaintiffs' attorneys have deposed Toyota employees, reviewed software code and pored over thousands of documents.

Toyota has denied the allegation, and neither the National Highway Traffic Safety Administration nor NASA found evidence of electronic problems. A trial in one of the lead cases is scheduled for early November.

Mardirossian said the evidence he presented at trial may help other pending cases against Toyota.

"We were able to demonstrate how their system can fail without a brake override system," he said. "We found some chinks in Toyota's armor. I think the next case will be a winner."


20.25 | 0 komentar | Read More

US debt ceiling hopes shore up markets again

LONDON — Indications that a deal to increase the U.S. debt ceiling may be imminent shored up markets once again on Friday.

Stocks have rallied over the past day or so amid signs that the White House and Republicans in Congress were inching toward a deal that would avoid a possible U.S. debt default, though not necessarily an end to the partial shutdown of the government.

With the Oct. 17 deadline to increase the debt ceiling looming, Republican leaders said they would vote to extend the government's borrowing authority for six weeks. A spokesman for President Barack Obama said he would "likely" sign a bill to increase the nation's ability to borrow money.

A failure to increase the debt ceiling raises the prospect of a U.S. debt default that could derail the global economic recovery and prompt turmoil in financial markets. For most of the past couple of weeks, investors have been wary, rather than panicky, about that possibility, so the prospect of a resolution — however short-term — has prompted a relief rally that's carried on into Friday's trading.

"The 'constructive' talks between the Republicans and Democrats yesterday and the indications that these will be continued today has strengthened hopes that the U.S. debt ceiling could be raised before the start of next week; even though there is currently risk that this solution could prove to be temporary," said Jane Foley, an analyst at Rabobank International.

In Europe, the FTSE 100 index of leading British shares was up 0.7 percent at 6,477 while Germany's DAX rose 0.3 percent to 8,715. The CAC-40 in France was 0.1 percent higher at 4,221.

Wall Street was poised for a steady opening, following Thursday's big gains that saw the Dow Jones industrial average add a whopping 300 points — Dow futures and the broader S&P 500 futures were up 0.1 percent.

Developments in Washington will remain the focus of attention, especially as monthly retail sales data for September have been postponed because of the government shutdown, which is into its second week. In the currency markets, the euro was up 0.3 percent at $1.3572 while the dollar rose 0.2 percent to 98.33 yen.

Earlier, Asian markets advanced in the slipstream of Thursday's developments. Japan's Nikkei 225 stock average rose 1.5 percent to 14,404.74 and Hong Kong's Hang Seng added 1.2 percent to 23,218.32. Australia's S&P/ASX 200 climbed 1.6 percent to 5,230.90. China's Shanghai Composite Index rose 1.7 percent to 2,228.15.

Even if U.S. politicians agree some sort of deal, it seems it won't be long before the next deadline arrives. The U.S. budget deadlock could be the dominant theme for the rest of the year.

"It would appear that U.S. lawmakers are not a huge fan of national holidays," said Craig Erlam, market analyst at Alpari. "Last year they effectively cancelled Christmas in order to avoid going over the fiscal cliff, now it looks as though Thanksgiving will be the next casualty as the extension would push the deadline back to the end of November."


20.25 | 0 komentar | Read More

North End Segway tour co. rolls into bankruptcy

Written By Unknown on Kamis, 10 Oktober 2013 | 20.25

A Segway tour operator that's repeatedly run afoul of the city and racked up $200,000 in fines has filed for Chapter 11 bankruptcy protection.

Boston by Segway wants to remain at its North End location, even as the city has said it must move by Dec. 31. It is seeking a "fair shake" from the city and its landlord, according to company officer Allan Danley.

"The bankruptcy ... is definitely not just the money," he said. "We are a profitable business."

Segway by Boston objects to a 2011 city ordinance that regulates Segways under the enforcement of the Transportation Department and Boston Police Department's Hackney Division. Those regulations, which confine Segways to public streets, are restrictive and discriminatory, Danley said.

"My intent was not to put him out of business," said City Councilor Salvatore LaMattina, who filed the ordinance. "My intent was for him to follow the laws. We just did not want them to use the sidewalks.

Segway by Boston (formerly Boston Gliders) has been fined $200,000 in two years — 400 tickets at $500 each — for violations including operating Segways on sidewalks and driveways and exceeding maximum tour sizes, Danley said. The city is its largest creditor. An initial bankruptcy filing lists $309,000-plus in debt.

A U.S. District Court judge last year dismissed its lawsuit against the city and the Rose Fitzgerald Kennedy Greenway Conservancy over the ordinance and access to public space.

In March, the Board of Appeal denied a variance to Segway by Boston's landlord to allow the company to occupy the former gas station used as its headquarters since 2011.

A Suffolk Superior Court suit filed in May against the city is pending, but a judge declined to temporarily halt enforcement of the city ordinance in June. The ruling noted Segway by Boston had operated without approved routes and licenses until April, when police shut it down for 60 days."


20.25 | 0 komentar | Read More

Gear needs to watch out for the competition

Samsung's new Galaxy Gear — the latest entrant to the nascent smartwatch wars — is a big win.

Not for Samsung — but for its chief rival, Apple.

That's because the Gear, debuting at $299 with a variety of color options, is just good enough to pique consumer interest in the new product category. But it's not good enough to justify a purchase at the current price. It just opens the door to a red-­carpet rollout for Apple's ex­pected Next Big Thing, the iWatch.

The Gear I tested is from AT&T, where it recently launched. It becomes available through Verizon today. To be sure, the Gear is a handsome piece of hardware. Understandably larger than conventional watches but hardly an eyesore, the Gear has a touchscreen interface and a single button on one side.

It pairs easily via Bluetooth with the Galaxy Note 3, currently its only compatible smartphone. This makes some sense due to the size of the Note, a smartphone/tablet hybrid that is too big to carry on a run. The third iteration Note is an excellent device unto itself, especially for business travelers.

Users can answer, screen or make calls with the Gear. The sound quality is surprisingly good. And a tiny camera will make you feel like James Bond. Though more apps will come, the Samsung store has only 13 mobile apps for the Gear. One standout is our hometown's own Runkeeper, which logs your distance and workouts using the Gear's built-in pedometer. The only social networking app for Gear is a little-known but excellent service called Path. So while the watch will alert you to a pending notification from services like Facebook and Twitter, you have to take out the phone to see the content. Voice recognition is a bit shoddy.

At about half the price, many may prefer the Pebble Watch, the Kickstarter-­funded smartwatch that is compatible with both Apple and Android. But I wouldn't shell out the dough for either unless you're a hardcore gadget geek.

The world of smartwatches has much in store for con­sumers, especially those in the market for fitness-tracking wearable technology. The ability to read and dictate email, post to social networks and other­wise serve as a tiny, on-the-go smartphone are likely all part of that future.

But the Gear is clearly a first-generation device, and if Apple plays its cards right, it could end up pretty similar to the tablets that came before the iPad.


20.25 | 0 komentar | Read More

Asia stocks mixed as US budget deadlock drags on

BANGKOK — Asian stock markets were mixed Thursday as a partial shutdown of the U.S. government dragged on and the threat of a possible default on its debt increased.

Many investors remained on the sidelines ahead of expected testimony by U.S. Treasury Secretary Jack Lew before lawmakers in Washington on Thursday.

Officials said he was expected to reiterate that Congress needed to raise the government's borrowing limit, the so-called debt ceiling, to preventing an unprecedented and potentially disastrous default.

President Barack Obama and Republican congressional leaders have failed to reach an agreement on raising the limit that the government can borrow.

The Treasury has warned it will run out of money if Congress does not agree to raise a $16.7 trillion cap on borrowing by Oct. 17 and allow it to issue more debt. That has raised the specter that the U.S. won't be able to pay interest on its debt.

The Treasury says a default on bond payments could freeze global credit, spike borrowing costs and trigger a collapse worse than the Great Recession.

Republicans say they won't allow more borrowing unless Democrats agree to restructure benefits programs or cut the deficit; the White House has ruled out negotiations tied to the debt cap.

Congress also hasn't taken any discernible steps to end the partial shutdown of the federal government.

The government was forced to furlough workers and halt some services after Congress, bitterly divided over Obama's health care law, refused to approve a short-term funding measure to allow the nation to pay its bills as it entered a new fiscal year this month.

"Lack of advance despite President Obama speaking with senior Republicans induces caution," said Vishnu Varathan of Mizuho Bank Ltd. in Singapore.

Japan's Nikkei rose 0.6 percent to 14,127.55. South Korea's Kospi fell 0.1 percent to 2,000.69. Australia's S&P/ASX 200 shed 0.2 percent to 5,143.10. Benchmarks in Singapore, Indonesia and Thailand rose while mainland China fell.

Wall Street stocks rose slightly on Wednesday. The Dow Jones industrial average rose 0.2 percent to close at 14,803. The Standard & Poor's 500 rose 0.1 percent at 1,656. The Nasdaq composite fell 0.5 percent, to 3,677.

Benchmark crude for November delivery rose 7 cents to $101.68 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.88 to close at $101.61 a barrel on the Nymex on Wednesday.

In currencies, the euro fell to $1.3497 from $1.3517 late Wednesday in New York. The dollar rose to 97.71 yen from 97.54 yen.

___

Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson


20.25 | 0 komentar | Read More

Markets perk up on US debt ceiling hopes

LONDON — Financial markets were decidedly perkier Thursday as President Barack Obama prepared to meet with top Republican leaders in an effort to bring an end to the budget impasse that has gripped Washington over the past few weeks.

With the partial shutdown of the U.S. government entering a tenth day and a deadline to raise the debt ceiling just a week away, investors across financial markets are focused on developments in the U.S. capital. The biggest worry has been the debt ceiling: If it's not raised, the U.S. could default on its debts.

One option reportedly being considered to break the standoff has been a short-term increase in the debt ceiling. Obama is due to meet 18 Republicans later to discuss how to resolve the crisis.

"There has been some talk of a short term debt cap bill with neither side ruling this option out in order to buy more time to come to a more permanent agreement," said Michael Hewson, senior market analyst at CMC Markets.

Though a short-term deal is not the ideal solution for investors, it at least would get rid of some of the uncertainty that has hobbled markets over the past few sessions.

In Europe, the FTSE 100 index of leading British shares was up 1.1 percent at 6,406 while Germany's DAX rose 1.4 percent to 8,634. The CAC-40 in France was 1.5 percent higher at 4,191.

Wall Street was poised for a solid opening too, with Dow futures up 0.8 percent and the broader S&P 500 futures 0.9 percent higher at 1,664.

The dollar has also settled somewhat in recent days following losses that sent it near a year-low against the euro. Europe's single currency was up 0.1 percent at $1.3530 while the dollar rose 0.3 percent to 97.90 yen.

With the partial shutdown of the U.S. government meaning that many economic releases have been postponed, investors have little to trade on later apart from the machinations in Washington.

The minutes to the last Fed policy meeting, published Wednesday, indicated that the monetary stimulus will not be reduced until there is clearer evidence of a further improvement in the U.S. economic outlook. The increased likelihood that so-called "tapering" of the stimulus will be delayed until next year has provided stocks a further boost. One of the reasons why stocks have risen over the past few years has been the Fed's stimulus.

Earlier in Asia, Japan's Nikkei rose 1.1 percent to close at 14,194.71 but South Korea's Kospi fell nearly 0.1 percent to 2,001.41. Australia's S&P/ASX 200 shed 0.1 percent to 5,147.10 after the release of worse-than-expected unemployment data. Benchmarks in Singapore, Indonesia and Thailand rose while mainland China fell.


20.25 | 0 komentar | Read More

US jobless claims jump to 374,000 due to backlog

WASHINGTON — The number of people applying for U.S. unemployment benefits jumped by 66,000 last week to a seasonally adjusted 374,000. But the spike was largely because California processed a huge backlog of claims and the partial government shutdown prompted some companies to cut jobs.

The Labor Department said Thursday that the less volatile four-week average rose 20,000 to 325,000. The sharp increase in both the weekly figures and the four-week average comes after applications hovered near a 6-year low the previous week.

A government spokesman said that about half the weekly increase occurred in California, where officials processed applications that were delayed several weeks by a computer upgrade. One-quarter of the increase reflected applications from employees at government contractors and other workers affected by the shutdown.

Applications are a proxy for layoffs. Before last week, they had declined steadily over the past three months. That's a sign companies are cutting fewer workers.

"The broader picture is still that labor market conditions are improving, albeit not quite as much as we previously thought," Paul Ashworth, an economist at Capital Economics, said.

Federal workers temporarily laid off by the shutdown may also file for benefits. But their numbers are reported separately and published a week later than the other applications.

Lockheed Martin said Monday that it is furloughing about 2,400 employees. That's lower than the 3,000 employees the company initially said it would furlough because Defense Secretary Chuck Hagel has recalled most of the Pentagon's civilian employees to work.

Falling applications are typically followed by more hiring. But there aren't any signs that that has happened yet. Instead, job gains have slowed in recent months.

It's not clear if hiring trends changed last month. The government was unable to issue the September employment report because of the shutdown.

However, last week payroll provider ADP said businesses added just 166,000 jobs in September, evidence that hiring remains sluggish. The ADP figures usually diverge from the government's more comprehensive employment report.

Analysts forecast that the economy was growing slowly before the shutdown. They predict economic growth at a 1.5 percent to 2 percent annual rate from July through September. That's generally not fast enough to spur much hiring.

Many economists had forecast that growth would pick up to an annual rate of 2.5 percent to 3 percent from October through December. But the shutdown will likely shave about 0.15 percentage point from that figure for each week it lasts.


20.25 | 0 komentar | Read More

Fed now unlikely to slow bond buying before 2014

Written By Unknown on Rabu, 09 Oktober 2013 | 20.25

WASHINGTON — The Federal Reserve's decision last month to maintain the size of its economic stimulus was a shocker. Just about everyone expected a pullback in its bond purchases, which have helped keep loan rates low.

And now?

Thanks to the government's partial shutdown, many analysts don't think the Fed will reduce its stimulus before next year. And with the White House's choice of the like-minded Janet Yellen to succeed Ben Bernanke as chairman next year, the Fed will likely be cautious about any pullback in early 2014.

Bernanke and the Fed may also now look a bit wiser to those who questioned their stance last month. After all, a key reason Bernanke gave for maintaining the pace of the Fed's stimulus was Washington's budget impasse. It posed a risk to the economy and financial markets, he suggested.

Bernanke said the budget standoff would likely make it harder to know whether the economy was strong enough for the Fed to slow its stimulus.

If anything, the economic outlook is getting darker: Even if the partial shutdown ended now, a graver threat awaits: A deadline to raise the federal borrowing limit. If Congress doesn't raise the limit by Oct. 17, the government would soon run out of cash to pay interest on its debt. Any missed payment would cause a default. Another recession would likely follow.

In hindsight, many economists think the Fed would have erred if it reduced its stimulus last month.

It almost did.

Some Fed officials have said the policy committee's decision at the Sept. 17-18 meeting against paring the $85 billion in monthly bond purchases was a close call.

Still, one voting member of the committee, James Bullard, head of the St. Louis Federal Reserve Bank, noted that Fed officials have stressed that any pullback in bond purchases would hinge on the strength of the economy. Some data released before the Fed's September meeting had showed a weakening economy, Bullard noted.

On Wednesday, details about last month's decision could emerge when the Fed issues the minutes of the September meeting. The minutes will likely show concern that the economy wasn't growing as fast as the Fed had forecast and that some indicators, such as job growth and consumer spending, had weakened.

Even after the Fed chose last month not to slow its stimulus, some analysts said it might reduce the bond purchases at its next meeting Oct. 29-30 or at the final meeting of the year, Dec. 17-18.

Few are saying so anymore. What's changed was the partial shutdown, which many analysts hoped would be averted, and the growing risk that Congress won't raise the debt limit and will cause the government to default.

Now, many economists say they think the Fed will leave its support at the current high level into 2014.

"With everything that is happening with the federal budget, the Fed is going to be even more cautious about doing anything," predicted Sung Won Sohn, an economics professor at the Martin Smith School of Business at California State University. "The best approach they can take right now is stand pat and watch."

For one thing, the outlook for the economy will remain murky as long as the partial shutdown goes on. The shutdown has delayed the government's release of critical economic data. The jobs report for September, for example, was due out Oct. 4 but has yet to be released.

In the meantime, the Fed will need to monitor the economic effects of both the shutdown and the possibility of a government default.

Treasury Secretary Jacob Lew has told Congress that he likely will have exhausted all the book-keeping maneuvers he can use by Thursday of next week. By then, the government will have only about $30 billion cash on hand.

Lew has urged Congress to raise the current $16.7 trillion borrowing limit before then. President Barack Obama has repeatedly said he won't negotiate with Republicans over raising the debt limit as he did during a previous such fight in August 2011.

The 2011 standoff was resolved at the last minute. The borrowing limit was raised before the government defaulted on its debt obligations. But the prolonged political impasse led Standard & Poor's to downgrade long-term U.S. debt for the first time in history.

Most analysts also expect the current debt-limit standoff to be resolved before the deadline given the economic crisis that would ensue if it isn't.

But Mark Zandi, chief economist at Moody's Analytics, said it could take the threat of further turbulence in financial markets to break the logjam.

"I think the most likely scenario is that policymakers only act when financial markets begin to sell off," Zandi said. "It will require lower stock prices, a lower dollar and turmoil in the bond market to get Washington to move."

Zandi is among those who think market turmoil will delay any pullback in the Fed's bond purchases. He foresees no slowdown in the purchases until 2014.

"With each day that the lawmakers can't get it together, the economic damage mounts, and the day the Fed starts tapering is pushed off," he said.

It's always possible that Congress could act faster than some expect to resolve the shutdown and the government's borrowing limit. If so, some say the Fed might still act before year's end to scale back its stimulus.

But Vincent Reinhart, chief economist at Morgan Stanley and a former top economist at the Fed, said he saw the likelihood of a cut in bond purchases as around 5 percent at the Fed's October meeting and 10 percent at the December meeting.

Sohn said the Fed's meeting in March could be the first one when it might feel the economy was strong enough to withstand a pullback in bond purchases.

If the slowdown in bond buying began in March, it would be a full six months after the September date where many had initially expected the Fed's pullback to begin.

That's why Sohn thinks the mid-2014 point that Bernanke had mentioned as a likely time for the bond purchases to end will likely slip until the end of 2014.

Sohn said he expects the Fed to eventually take small steps in cutting its $85 billion in monthly purchases, possibly in reductions of $10 billion to $20 billion that would end in December 2014.

"The Fed wants to take measured steps, and I don't think they will move until Yellen feels she is in firm command," Sohn said. "Washington's budget craziness has made the Fed more cautious."


20.25 | 0 komentar | Read More

Budget clash intensifies amid hints of short truce

WASHINGTON — President Barack Obama and House Speaker John Boehner are increasing the pressure on each other to bend in their deadlock over the federal debt limit and the partial government shutdown. Even as they do, there are hints they might consider a brief truce.

With the shutdown in its ninth day Wednesday and a potential economy-shaking federal default edging ever closer, neither side was showing signs of capitulating. Republicans were demanding talks on deficit reduction and Obama's 2010 health care law as the price for boosting the government's borrowing authority and returning civil servants to work, while the president wanted Congress to first end the shutdown and extend the debt limit.

Amid the tough talk, though, were indications that both sides might be open to a short-term extension of the $16.7 trillion borrowing limit and a temporary end to the shutdown, giving them more time to resolve their disputes.

Boehner, R-Ohio, told reporters Tuesday he was not drawing "lines in the sand." He sidestepped a question about whether he'd raise the debt limit and fund government for short periods by saying, "I'm not going to get into a whole lot of speculation."

Hours later, Obama used a White House news conference to say he "absolutely" would negotiate with Republicans on "every item in the budget" if Congress first sent him short-term measures halting the shutdown and the extending the debt limit.

"There's a crack there," Boehner said of the clash late Tuesday, though he cautioned against optimism.

The back-and-forth came as the financial world flashed unmistakable signs that it feared Washington's twin battles could hurt the economy.

The stock market declined again Tuesday, with the Dow Jones industrial average dropping nearly 160 points, or 1.1 percent. The International Monetary Fund trimmed its global and U.S. growth forecasts through 2014, warning that failure to renew the debt limit would raise interest rates and potentially shove the American economy back into recession.

The Obama administration has said that unless Congress acts, it expects to have an estimated $30 billion in cash left by Oct. 17. That is pocket change for a government that can spend tens of billions more than that on busy days and $3.6 trillion a year.

Hitting that date without congressional action would risk an unprecedented federal default that would wound the economy and deal lasting harm to the government's ability to borrow money, many economists warn. Some Republicans have expressed doubt that the damage would be as severe.

On Tuesday, Senate Democrats introduced legislation that would avoid those scenarios by letting the government borrow money through Dec. 31, 2014. It contained no spending cuts or other deficit-cutting steps many Republicans seek.

The bill's fate was uncertain, since the 54 votes Democrats can usually muster are short of the 60 votes they would need to overcome a conservative filibuster aimed at derailing the bill. An initial test vote seemed likely by Saturday.

Tuesday's economic tremors did little to alter each side's demands.

Obama said he would negotiate, but added: "I'm not going to do it until the more extreme parts of the Republican Party stop forcing John Boehner to issue threats about our economy. We can't make extortion routine as part of our democracy."

Two hours later, Boehner stood firm.

"What the president said today was if there's unconditional surrender by Republicans, he'll sit down and talk to us," Boehner said. "That's not the way our government works."

Meanwhile, Rep. Paul Ryan, Republican chairman of the House Budget Committee and the party's candidate for vice president, proposed in a Wall Street Journal op-ed published Wednesday that the stalemate be resolved by having both sides agree to "common sense reforms of the country's entitlement programs and tax code."

Ryan suggested Obama was being disingenuous about refusing to discuss policy issues as part of the process of getting the debt limit increased and getting passage of a stopgap spending bill to allow the government to resume normal operations.

He said that "many presidents have negotiated on the debt ceiling — including him."

In the House, Republicans were continuing their tactic of pushing through narrowly targeted bills — over Democratic objections — that would restart popular parts of the government.

On Wednesday, they planned votes on a measure financing death benefits to families of fallen U.S. troops. Blaming the shutdown, the Pentagon has halted the $100,000 payments, usually made within three days of a death, a stoppage Boehner called "disgraceful."

On Tuesday, the House approved a GOP bill providing money for Head Start pre-school programs for low-income children.

It also voted to promptly pay federal employees who have been working without paychecks during the shutdown and to establish a bipartisan congressional committee to negotiate ways to reduce the budget deficit. The White House threatened vetoes of both, saying the House should instead reopen the entire government and extend the debt limit.

Earlier Tuesday, House Republicans met privately but produced no new approaches to their shutdown and debt limit impasses.

Participants said Boehner described a weekend visit to a Washington grocery store at which, he said, two-thirds of the people who recognized him smiled and treated him well. That, they said, was a half-joking indication of public approval of the GOP stance — despite recent polling showing more people are faulting Republicans than Obama and Democrats in the fight.

Boehner also told his GOP colleagues that Senate Majority Leader Harry Reid, D-Nev., is trying to "annihilate" them. Reid has repeatedly demanded that Republicans drop their insistence on negotiations and quickly vote to end the shutdown and extend the borrowing limit.

The private GOP meeting was described on condition of anonymity by attendees.

___

AP Special Correspondent David Espo contributed to this report.


20.25 | 0 komentar | Read More

NYC menu offers something new: Silence

NEW YORK — The latest in New York City dining? Eating in silence.

A restaurant in Brooklyn's trendy Greenpoint neighborhood is serving up a four-course meal of organic, locally-sourced food, but isn't allowing any chit-chat.

'Eat' restaurant chef Nicholas Nauman  says he was inspired to put on the occasional 'No Talking' affairs after spending time with Buddhist monks in India. He says the silence allows customers a chance to better experience the food.

Epicurious.com Editor-in-Chief Tanya Steel says the silent eating experience sounds like yet another facet of the sensory-dining eating out fad. Some restaurants offer diners the chance to consume in the dark. Other gastronomical joints feature the ability to consume not just the food — but the menu on which it is described.


20.25 | 0 komentar | Read More

Futures rise ahead of Yellen nomination to Fed

NEW YORK — Stock futures are higher with President Barack Obama set to nominate Janet Yellen to head the Federal Reserve.

Dow Jones industrial futures are up 35 points to 14,749. S&P futures have gained 4.9 points to 1,655.30. Nasdaq futures are up 8.75 points to 3,159.50.

Yellen has been a key ally of Fed Chairman Ben Bernanke and has piloted the bank's massive bond-buying program.

U.S. corporations are posting mixed results to begin the earning season.

Alcoa easily beat expectations, while Costco and Yum Brands fell short.

Also on Wednesday, Jos. A. Bank Clothiers said that it's bidding $2.3 billion for Men's Wearhouse.

The Federal Reserve releases the minutes of its September policy meeting after surprising economists last month by not reducing its $85 billion in monthly bond purchases.


20.25 | 0 komentar | Read More

Jos. A. Bank offers $2.3B deal for Men's Wearhouse

HAMPSTEAD, MD. — Jos. A. Bank Clothiers has proposed to buy rival retailer Men's Wearhouse in a $2.3 billion acquisition that would pair two retailers dealing with slumping earnings.

The Hampstead, Md., company said Wednesday it has offered to pay $48 in cash for each share of Men's Wearhouse.

That is a 42 percent premium to the stock's closing price on Sept. 17, the day before Jos. A. Bank. Privately pitched the deal to Men's Wearhouse executives in a phone call and follow-up letter.

The Men's Wearhouse Inc. shares climbed more than 34 percent, or $12.15, to $47.39 in premarket trading Wednesday. Jos. A. Bank shares also are up 12 percent, or $4.99, to $46.65.

Jos. A. Bank said Men's Wearhouse is reviewing its offer. Representatives of the Houston-based Men's Wearhouse did not immediately return calls from The Associated Press seeking comment.

In June, Men's Wearhouse ousted its chairman George Zimmer — who had also served as the company's pitchman — following a dispute over the direction for the company. Zimmer, who founded the company in 1973, used to appear in many of its TV commercials with the slogan, "You're going to like the way you look. I guarantee it."

Jos. A. Bank had said in June that it was considering acquisitions and it was storing up capital for a possible deal. The company then said last month its fiscal second-quarter net income fell 39 percent as shoppers didn't respond as well to some of the retailer's marketing campaigns as they did a year ago.

The company sells men's tailored and casual clothing, sportswear and footwear and operates 623 stores in 44 states and the District of Columbia.

Men's Wearhouse sells men's clothing through its namesake chain of stores, as well as the Moores and K&G retail chains. It runs more than 1,200 stores.

It reported last month that its fiscal second-quarter earnings fell 28 percent, hurt by one-time charges and an early Easter that pushed prom tuxedo rentals earlier than usual. The men's clothing retailer also cut its full-year guidance.


20.25 | 0 komentar | Read More

EU Parliament approves tough new tobacco rules

Written By Unknown on Selasa, 08 Oktober 2013 | 20.25

BRUSSELS — European lawmakers approved sweeping new regulations governing the multi-billion dollar tobacco market on Tuesday, including limits on electronic cigarettes, bigger warnings on cigarette packs and a ban on menthol and other flavorings in a bid to further curb smoking.

The European Parliament vote in Strasbourg came after months of bitter debate and an unusually strong lobbying campaign by the tobacco industry, which decries the regulations as disproportionate and limiting consumer freedom. The Parliament dismissed many of the industry's arguments, but agreed on watered-down versions of some of the most sensitive legislation.

The legislature still must reach a compromise with the 28 EU governments on certain points before the rules can enter into force. Diplomats say a deal could be struck by the end of the year.

The lawmakers voted to impose warning labels — with the inclusion of gruesome pictorials, for example showing cancer-infested lungs — covering 65 percent of cigarette packs, rejecting a measure for blank packaging instead.

Legislators also voted for new limits on advertising for electronic cigarettes, but rejected a measure that would have restricted them to medical use only. The battery-operated products turn nicotine into a vapor inhaled by the user and are often marketed as a less harmful alternative to tobacco. Many health experts say e-cigarettes are useful for people trying to quit or cut down on nicotine.

The Parliament also voted to ban menthol — though not until 2022 — and some other flavorings. They rejected a ban on slim cigarettes.

EU officials pleaded passionately for tough anti-tobacco measures, arguing it's a crucial question of public health. They also want to stop youngsters from being swayed into smoking by new, fancy packaging, e-cigarettes, or cigarettes featuring flavors such as fruit aromas.

Smoking bans in public, limits on tobacco firms' advertising, and other measures over the past decade have seen the number of smokers fall from an estimated 40 percent of the EU's 500 million citizens to 28 percent now. Still, treatment of smoke-related diseases costs about 25 billion euros ($34 billion) a year, and the bloc estimates there are around 700,000 smoking-related deaths per annum across the 28-nation bloc.

Prime Minister Enda Kenny of Ireland on Monday wrote a fervent appeal to lawmakers, saying: "Every year, more Europeans die from smoking than from the combined total of car accidents, fires, heroin, cocaine, murder and suicide."

Lobbying against the measure was led by Philip Morris International Inc., which owns several brands such as Marlboro and called the new legislation "deeply flawed." The company maintains that, among other things, banning menthol, slim cigarettes or small packages would violate EU rules.

Philip Morris, with $8.5 billion of sales and 12,500 employees in Europe, also claimed the regulation could result in up to 175,000 job losses and lost tax revenues of 5 billion euros per year.

___

Angela Charlton in Paris contributed to this report.

Follow Juergen Baetz on Twitter at http://www.twitter.com/jbaetz


20.25 | 0 komentar | Read More

US adults score below average on worldwide test

WASHINGTON — It's long been known that America's school kids haven't measured well compared with international peers. Now, there's a new twist: Adults don't either.

In math, reading and problem-solving using technology — all skills considered critical for global competitiveness and economic strength — American adults scored below the international average on a global test, according to results released Tuesday.

Adults in Japan, Canada, Australia, Finland and multiple other countries scored significantly higher than the United States in all three areas on the test. Beyond basic reading and math, respondents were tested on activities such as calculating mileage reimbursement due to a salesman, sorting email and comparing food expiration dates on grocery store tags.

Not only did Americans score poorly compared to many international competitors, the findings reinforced just how large the gap is between the nation's high- and low-skilled workers and how hard it is to move ahead when your parents haven't.

In both reading and math, for example, those with college-educated parents did better than those whose parents did not complete high school.

The study, called the Program for the International Assessment of Adult Competencies, found that it was easier on average to overcome this and other barriers to literacy overseas than in the United States.

Researchers tested about 166,000 people ages 16 to 65 in more than 20 countries and subnational regions. The test was developed and released by the Organization for Economic Cooperation and Development, which is made up of mostly industrialized member countries. The Education Department's Center for Education Statistics participated.

The findings were equally grim for many European countries — Italy and Spain, among the hardest hit by the recession and debt crisis, ranked at the bottom across generations. Unemployment is well over 25 percent in Spain and over 12 percent in Italy. Spain has drastically cut education spending, drawing student street protests.

But in the northern European countries that have fared better, the picture was brighter — and the study credits continuing education. In Finland, Denmark, and the Netherlands, more than 60 percent of adults took part in either job training or continuing education. In Italy, by contrast, the rate was half that.

As the American economy sputters along and many people live paycheck-to-paycheck, economists say a highly-skilled workforce is key to economic recovery. The median hourly wage of workers scoring on the highest level in literacy on the test is more than 60 percent higher than for workers scoring at the lowest level, and those with low literacy skills were more than twice as likely to be unemployed.

"It's not just the kids who require more and more preparation to get access to the economy, it's more and more the adults don't have the skills to stay in it," said Anthony Carnevale, director of the Georgetown University Center on Education and the Workforce.

Education Secretary Arne Duncan said in a statement the nation needs to find ways to reach more adults to upgrade their skills. Otherwise, he said, "no matter how hard they work, these adults will be stuck, unable to support their families and contribute fully to our country."

Among the other findings:

—Americans scored toward the bottom in the category of problem solving in a technology rich environment. The top five scores in the areas were from Japan, Finland, Australia, Sweden and Norway, while the U.S. score was on par with England, Estonia, Ireland and Poland. In nearly all countries, at least 10 percent of adults lacked the most basic of computer skills such as using a mouse.

—Japanese and Dutch adults who were ages 25 to 34 and only completed high school easily outperformed Italian or Spanish university graduates of the same age.

—In England, Germany, Italy, Poland, and the United States, social background has a big impact on literacy skills, meaning the children of parents with low levels of education have lower reading skills.

America's school kids have historically scored low on international assessment tests compared to other countries, which is often blamed on the diversity of the population and the high number of immigrants. Also, achievement tests have long shown that a large chunk of the U.S. student population lacks basic reading and math skills — most pronounced among low-income and minority students.

This test could suggest students leaving high school without certain basic skills aren't obtaining them later on the job or in an education program.

The United States will have a tough time catching up because money at the state and local level, a major source of education funding, has been slashed in recent years, said Jacob Kirkegaard, an economist with the Peterson Institute for International Economics.

"There is a race between man and machine here. The question here is always: Are you a worker for whom technology makes it possible to do a better job or are you a worker that the technology can replace?" he said. For those without the most basic skills, he said, the answer will be merciless and has the potential to extend into future generations. Learning is highly correlated with parents' education level.

"If you want to avoid having an underclass — a large group of people who are basically unemployable — this educational system is absolutely key," Kirkegaard said.

Dolores Perin, professor of psychology and education at Teachers College, Columbia University, said the report provides a "good basis for an argument there should be more resources to support adults with low literacy."

Adults can learn new skills at any age and there are adult-geared programs around the country, Perin said. But, she said, the challenge is ensuring the programs have quality teaching and that adults regularly attend classes.

"If you find reading and writing hard, you've been working hard all day at two jobs, you've got a young child, are you actually going to go to class? It's challenging," Perin said.

Some economists say that large skills gap in the United States could matter even more in the future. America's economic competitors like China and India are simply larger than competitors of the past like Japan, Carnevale said. Even while America's top 10 percent of students can compete globally, Carnevale said, that doesn't cut it. China and India did not participate in this assessment.

"The skills in the middle are required and we're not producing them," Carnevale said.

Respondents were selected as part of a nationally represented sample. The test was primarily taken at home using a computer, but some respondents used a printed test booklet.

Among the other findings:

—Japan, Finland, Canada, Netherlands, Australia, Sweden, Norway, Flanders-Belgium, Czech Republic, Slovak Republic, and Korea all scored significantly higher than the United States in all three areas on the test.

—The average scores in literacy range from 250 in Italy to 296 in Japan. The U.S. average score was 270. (500 was the highest score in all three areas.) Average scores in 12 countries were higher than the average U.S. score.

—The average scores in math range from 246 in Spain to 288 in Japan. The U.S. average score was 253, below 18 other countries.

—The average scores on problem solving in technology-rich environments ranged from 275 in Poland to 294 in Japan. The U.S. average score was 277, below 14 other countries.

_____

Online: http://www.oecd.org/site/piaac/publications.htm

_____

Follow Kimberly Hefling at http://www.twitter.com/khefling

_____

Lori Hinnant contributed to this report from Paris.


20.25 | 0 komentar | Read More

A look at the winners of Nobel Prize in physics

WHO WON?

Peter Higgs, 84, emeritus professor of theoretical physics at the University of Edinburgh, Britain, and Francois Englert, 80, professor emeritus of theoretical physics at the Universite Libre de Bruxelles, Belgium.

FOR WHAT?

For proposing the existence of a special type of particle, since named the Higgs boson, whose features have been confirmed over the past year through experiments conducted at CERN, the gigantic international particle research laboratory on the Swiss-French border.

SIGNIFICANCE

The existence of the Higgs boson is needed to explain how particles acquire mass. That provides a fundamental pillar of the physics theory which explains the origins of the universe by describing how matter came into being shortly after the Big Bang.


20.25 | 0 komentar | Read More

JC Penney anticipates ample year-end liquidity

PLANO, Texas — J.C. Penney, which has faced concerns it is burning through cash, still anticipates having ample liquidity at year's end.

The struggling department store operator also said a key revenue figure fell 4 percent in fiscal September from a year ago, but that its online sales continue to strengthen. Its shares rose more than 6 percent in premarket trading.

The retailer is trying to recover from a failed turnaround attempt spearheaded by former CEO Ron Johnson. Two weeks ago the Plano, Texas, company said it planned to sell up to 96.6 million shares of common stock in a public offering, evidence the chain is looking to shore up its cash reserves.

J.C. Penney's board ousted Johnson in April after 17 months on the job and rehired the previous CEO, Mike Ullman. Under Ullman, J.C. Penney is bringing back sales events that had been ditched and is restoring basic merchandise eliminated by Johnson.

Ullman said Tuesday that the chain is in the early stages of its turnaround.

J.C. Penney Co. anticipates more than $2 billion in year-end liquidity — a measure of its ready access to cash — after closing on a public stock offering of 84 million shares. The company said that the offering resulted in about $785 million in net proceeds. It also said Tuesday that it remains current in vendor payments.

The retailer said that September revenue at stores open at least a year, while down from a year ago, rose when compared with August, with sales of women's clothing increasing.

Revenue at stores open at least a year is a key gauge of a retailer's health because it excludes the potentially distorting effect of results from stores recently opened or closed.

Online revenue increased 25.3 percent in September, building on a 10.8 percent gain in August. For the third quarter-to-date, online sales are up 18.6 percent.

J.C. Penney said that at both its stores and online purchase conversions climbed in September from the prior-year period mostly because of better inventory levels in key items and having the sizes its shoppers want.

While traffic improved at its stores not located in malls during September's last two weeks, J.C. Penney said that its mall stores are still contending with weak traffic levels.

J.C. Penney said it is still working to fix its home store concept, and has reopened "all but a handful" of its 505 new home departments. The retailer admitted that the product mix, shopping environment and prices didn't resonate with customers and that sales are still weak at its stores. J.C. Penney said that it is also working to come up with a more balanced mix of modern and traditional home furnishings at better price points and making the shopping layout easier for shoppers.

Also on Tuesday, Sterne Agee analyst Charles Grom downgraded J.C. Penney's rating to "Hold" from "Buy" and cut its price target in half, to $9 from $18. Groms said in a client note that he fears former CEO Johnson may have permanently turned off the retailer's core customer.

Ullman said Tuesday that reconnecting with customers and getting them into stores is a top priority for the chain.

"We are all dedicated to continuing the momentum underway and restoring J.C. Penney to a leadership position in American retail. It will take time, but we are on the right path with a sound strategy and achievable goals," he said.

Share rose 52 cents, or 6.7 percent, to $8.23 in premarket trading about 45 minutes ahead of the market opening.


20.25 | 0 komentar | Read More

Yahoo's email becomes more like Gmail in redesign

SAN FRANCISCO — Yahoo's free email service is becoming a bit more like Google's Gmail as part of its second makeover in less than a year.

The similarities to Gmail probably aren't coincidental. Yahoo CEO Marissa Mayer helped design some of Gmail's features while she was a top executive at Google Inc. Since its debut nearly a decade ago, Gmail has steadily grown into the world's most popular email service.

Yahoo's redesigned email unveiled Tuesday includes a Gmail-like tool that will thread together emails related to specific topics so they appear as a succession of messages.

Another new feature will enable Yahoo's email users to decorate their inboxes with pictures plucked from the company's photo-sharing service, Flickr. Gmail has been allowing its users to spruce up their inboxes with various themes for years.


20.25 | 0 komentar | Read More

Shutdown spawns vacuum in farm market information

Written By Unknown on Senin, 07 Oktober 2013 | 20.25

WICHITA, Kan. — When Tim Peterson finished planting his 900 acres of winter wheat last week, the usually market-savvy Kansas farmer unexpectedly found himself struggling to make critical marketing decisions without being able to access to vital agricultural reports, casualties of the federal government shutdown.

"We have no clue what is going on in the market," said Peterson, who farms near Monument in northwest Kansas. He typically protects his investment in seed and fertilizer by "locking in" the price his wheat crop will fetch next July with a futures contract that shields farmers from market fluctuations by guaranteeing a price while the crop is in the ground.

Farmers and livestock producers use the reports put out by the National Agriculture Statistics Service to make decisions — such as how to price crops, which commodities to grow and when to sell them — as well as track cattle auction prices. Not only has the NASS stopped putting out new reports about demand and supply, exports and prices, but all websites with past information have been taken down.

"It is causing a direct void in information that is immediate," Peterson said.

This worries him far more than his other problem: When will his $20,000 subsidy check from the government, which usually comes in October, arrive?

Since the U.S. Agriculture Department's local farm services offices also have been shuttered, farmers can't apply for new loans, sign up acreages for government programs or receive government checks for programs they're already enrolled in. And at a time when researchers who are seeking new wheat varieties and plant traits should be planting experimental plots, all work has ground to a halt.

Kansas Farmer's Union president Donn Teske, a grower in the northeast Kansas town of Wheaton, worried about payments he's owed for idling some environmentally sensitive land under the Conservation Reserve Program.

"I always look forward to that check coming in the mail," the 58-year-old said.

But all of that, farmers say, pales in comparison to the lack of agriculture reports, because farmers today depend far more on global marketplaces than government payouts.

The reports, for instance, can alert them to shortfalls in overseas markets or if there's a wide swing in acres planted, both of which would prompt U.S. growers to plant extra crops to meet those demands or hang on to a harvest longer to get a better price.

"That information is worth a lot of money, a lot more than $20,000 a year," Peterson said, a reference to his subsidy.

Major commodity players can pay for crop size estimates usually provided in the NASS reports from "private sources," said Dalton Henry, director of governmental affairs for the industry group Kansas Wheat. "Producers aren't going to have that same luxury," he said.

During the shutdown, the USDA won't provide sales reports from Oklahoma livestock auctions that are used to help set prices on the Chicago Mercantile Exchange, state Department of Agriculture employee Jack Carson said.

"We are working. They are not," Carson said.

Another ripple effect is that farmers may see a delay in checks they're owed from federal support programs, said Wisconsin agriculture secretary Ben Brancel.

Brancel also noted that his office heard from a farmer on the first day of the shutdown who had received a check for a cow he sold, but because he had a Farm Service Agency loan, he couldn't cash it without obtaining a signature from an FSA official.

"Our advice to him was he was going to have to wait, that there wasn't anything he could do about it," he said.

The shutdown came just as the current farm bill expired. Farm subsidies remain intact for fall crops currently being harvested. Crop insurance, funded under a permanent authorization, is mostly unaffected.

The expiration of the law won't have an impact until the end of the year, when some dairy supports end and milk prices are expected to rise sharply.

Congress has been debating the new farm bill for more than two years, but a resolution has likely taken a back seat.

"Farmers, all of those impacted, have been waiting and waiting and waiting. And frankly have had enough," said Senate Agriculture Chairwoman Debbie Stabenow, D-Mich., last week. "They want this to get done."

___

Associated Press writers Mary Clare Jalonick in Washington, D.C., M.L. Johnson in Milwaukee and Kelly P. Kissel in Little Rock, Ark., contributed to this report.


20.25 | 0 komentar | Read More

Ethical issues as scientists peek into baby genes

WASHINGTON — Little Amelia Sloan is a pioneer: Shortly after her birth, scientists took drops of the healthy baby's blood to map her genetic code.

Amelia is part of a large research project outside the nation's capital that is decoding the DNA of hundreds of infants. New parents in a few other cities soon can start signing up for smaller studies to explore if what's called genome sequencing — fully mapping someone's genes to look for health risks — should become a part of newborn care.

It's full of ethical challenges.

Should parents be told only about childhood threats? Or would they also want to learn if their babies carried a key gene for, say, breast cancer after they're grown? Could knowing about future risks alter how a family treats an otherwise healthy youngster? And how accurate is this technology — could it raise too many false alarms?

This is the newest frontier in the genetic revolution: how early to peek into someone's DNA, and how to make use of this health forecast without causing needless worry.

"This was something that was looming over the horizon," said Dr. Alan Guttmacher, a pediatrician and geneticist at the National Institutes of Health. Last month, NIH announced a $25 million, five-year pilot project in four cities — Boston, San Francisco, Chapel Hill, N.C., and Kansas City, Mo. — to start answering some of the questions before the technology is widely offered for babies.

Today, the 4 million U.S. babies born annually have a heel pricked in the hospital, providing a spot of blood to be tested for signs of at least 30 rare diseases. This newborn screening catches several thousand affected babies each year in time for early treatment to prevent death, brain damage or other disabilities. It's considered one of the nation's most successful public health programs.

A complete genetic blueprint would go well beyond what that newborn blood spot currently tells doctors and parents — allowing a search for potentially hundreds of other conditions, some that arise in childhood and some later, some preventable and some not.

"If I truly believed that knowing one's genome was going to be transformative to medicine over the next decade or more, then wouldn't I want to start generating that information around the time of birth?" asked Dr. John Niederhuber, former director of the National Cancer Institute who now oversees one of the largest baby-sequencing research projects to date.

At Niederhuber's Inova Translational Medicine Institute in Falls Church, Va., researchers are mapping the genomes of newborns, along with their parents and other relatives for comparison. The long-term goal of the privately funded study is to uncover genetic patterns that predict complex health problems, from prematurity to developmental disorders.

But the experimental tests will turn up some gene mutations already well-known to cause serious ailments, and participating parents must choose upfront whether to be told. They don't get a full report card of their baby's genes. Only ones that cause treatable or preventable conditions — so-called medically actionable findings — are revealed, to the family's doctor. That means in addition to pediatric diseases, parents also could learn whether a baby carries a particular breast-cancer-causing gene, information useful once she reaches young adulthood.

Nurse Holly Sloan was eager to enroll daughter Amelia, although she thought hard about how she'd handle any bad news.

"If it was something that we could hopefully prevent through diet or exercise or some kind of lifestyle change, we could start with that as early as possible," said Sloan, of Warrenton, Va. "I guess I'm just the type of person, I would rather know and address it." Five months after Amelia's birth, she hasn't gotten any worrisome results.

Until now, genome sequencing has been used mostly in research involving curious adults or to help diagnose children or families plagued by mysterious illnesses.

But many specialists say it's almost inevitable that DNA mapping eventually will be used for healthy young children, too, maybe as an addition to traditional newborn screening for at least some tots. It takes a few drops of blood or a cheek swab. And while it's still too costly for routine use, the price is dropping rapidly. Whole genome sequencing is expected to soon come down to $1,000, what it now costs for a more targeted "exome" sequencing that maps only certain genes and may be enough.

The NIH decided this was a window of opportunity to explore different ways this technology might be used. One of the four teams — at Children's Mercy Hospital in Kansas City — will test rapid gene-mapping to speed diagnosis of sick babies in intensive care.

Another will look for narrow sets of genes important in childhood, such as those involved with immune disorders not detected by today's newborn screening or that alter how a child processes medication. "It's not going to be some sort of fishing expedition throughout the genome," said Dr. Robert Nussbaum of the University of California, San Francisco.

The two other projects — at Brigham and Women's Hospital in Boston and the University of North Carolina, Chapel Hill — will go a step further by enrolling healthy infants as they explore what kind of information parents want about their babies' future.

"We aren't even sure that genome-scale sequencing in newborns is really a good idea," cautioned UNC lead researcher Dr. Jonathan Berg in a recent Facebook chat to alert the community about the study. Rather than a one-time mapping, it's possible that "we will use targeted sequencing at certain times in a person's life, when that specific information will actually be medically useful."

For those pioneering babies whose DNA is being mapped already, researchers are "trying to figure out what is legal, versus ethical, versus good medicine" in revealing results, said Joe Vockley, Inova Translational Medicine Institute's chief science officer.

Mom and Dad may be told something their child, once grown, wishes hadn't been revealed. Other findings may be withheld now that would be good to know years later, as new treatments are developed.

"This is a living, breathing problem," Vockley said, "not a static decision that's made, and it lasts for all time."


20.25 | 0 komentar | Read More

NY probes rights sold to 'World Trade Center'

ALBANY, N.Y. — New York is expanding its probe nationwide into the 1980s sale of the rights to the name "World Trade Center" to a nonprofit for $10, resulting in millions of dollars in fees for use of the name in 28 states, according to an official familiar with the investigation.

The official told The Associated Press that letters seeking information on the deals should arrive Monday at 45 World Trade Center complexes, from Alaska to Florida. The official spoke on the condition of anonymity because the official wasn't authorized to speak publicly about the probe.

New York Attorney General Eric Schneiderman is investigating a 1986 deal in which the Port Authority of New York and New Jersey sold the naming rights to one of its outgoing executives for use by a nonprofit organization called The World Trade Centers Association. The Port Authority owns the World Trade Center site but is among hundreds of entities worldwide that pay to use the "World Trade Center" name.

"The attorney general is looking to find out how the WTCA got such a sweetheart deal on the naming rights, how much revenue the WTCA makes selling the name and how that price is set," the official said.

The Record newspaper reported in September that the Port Authority of New York and New Jersey sold the naming rights to Guy Tozzoli in his role as head of the nonprofit WTCA. Tozzoli died in February.

The letter obtained by the AP sets an Oct. 25 deadline for responses to the World Trade Centers in cities including Houston, New Orleans, Detroit and Sacramento.

The letters seek the date in which each entity entered into an agreement with the World Trade Centers Association, the end date of any agreement, and the amount paid to the association, and names of principals involved and the license agreements.

New York Gov. Andrew Cuomo referred the case to Schneiderman on Sept. 17.

"Using the millions of dollars in annual revenue from licensing fees paid by companies around the globe for the use of the World Trade Center brand, Mr. Tozzoli received exorbitant annual compensation," Cuomo said.

___

Dave Porter reported from Newark, N.J.


20.25 | 0 komentar | Read More

Futures fall sharply over stalemate in Washington

NEW YORK — Stock futures are falling sharply as the U.S. government heads into the second week of a partial shutdown with no signs of a budget agreement in sight.

Dow Jones industrial futures are down 125 points to 14,873. S&P futures have lost 15.3 points to 1,669.50. Nasdaq futures are down 25.5 points to 3,209.

The Dow Jones gave up more than a percentage point last week and with the shutdown trimming an estimated 0.2 percent from gross domestic product every week, Washington will be watching Wall Street closely Monday.

The stalemate by all accounts will extend into the beginning of the U.S. earnings season, when Alcoa reports third quarter results after the closing bell Tuesday.

The Federal Reserve will release its consumer borrowing report at 3 p.m. Eastern on Monday.


20.25 | 0 komentar | Read More

A look at the winners of Nobel Prize for medicine

WHO WON?

Americans James E. Rothman, 62, professor of biomedical sciences at Yale University; Randy W. Schekman, 64, professor of cell and developmental biology at the University of California, Berkeley; and German-born Thomas C. Sudhof, 57, professor in the School of Medicine at Stanford University.

FOR WHAT?

For their discoveries of how hormones, enzymes and other key materials are transported within cells, a process known as "vesicle traffic."

SIGNIFICANCE

The discovery solves the mystery of how animal cells organize their internal transportation system to direct molecules to the correct place.

This helps explain how certain illnesses, including diabetes, tetanus and many immune diseases, work.

WHAT THEY SAID:

James E. Rothman: "This is not an overnight thing. Most of it has been accomplished and developed over many years, if not decades."

Randy W. Schekman: "As far as my lab goes, I was excited about what we were doing yesterday and will be excited about the work we are doing tomorrow."

Thomas C. Sudhof: "At least in the United States, which is now my home, there is a lot of soul-searching about the sense of science. And I hope and believe that I can do a little bit to help clarify the positions."


20.25 | 0 komentar | Read More

Sustaining local seafood

Written By Unknown on Minggu, 06 Oktober 2013 | 20.25

The New England Aquarium has been helping Gorton's put added weight behind its familiar "Trust the Gorton's Fishermen" advertising jingle.

This is the fifth year of a sustainable seafood partnership between the aquarium and the 164-year-old Gloucester seafood company that brought us the fish stick in 1952.

"We work with them to help advance the sustainability of the seafood that they buy and sell," said Tania Taranovski, manager of the aquarium's Sustainable Seafood Programs. "We really look at things throughout the supply chain …down to the producer level, whether it's the fishermen or fish farmers."

The aquarium works with the seafood industry to promote responsible fisheries management, providing scientific advice on ocean-friendly aquaculture and wild-caught fishery operations. Clients include Ahold USA, parent company of the Stop & Shop Supermarket Co., and Darden Restaurants, whose eateries include Red Lobster and Olive Garden.

"Having the expertise of the New England Aquarium scientists behind us is invaluable," said Lisa Webb, Gorton's supply chain vice president. "The team advises us on how to ensure greater environmental accountability with our fish sources."

Taranovski started by assessing the environmental statuses of each species used in Gorton's products, including habitat impacts, fishing practices and overall health. The aquarium and company work toward the "common vision" of the Conservation Alliance for Seafood Solutions. Formed in 2008 by 16 U.S. and Canadian conservation groups, it outlines six steps as a framework for businesses that want to work on seafood sustainability.

"It includes things like education of staff, suppliers, consumers … improving the traceability of the supply, making procurement changes in favor of sustainability," Taranovski said.

One joint project worked to improve the feed source for tilapia raised on Asian fish farms that Gorton's uses. Another involved pollock, an important species for Gorton's that's used for products such as fish sticks and breaded fish fillets. Gorton's joined an alliance to improve the Russian fishery so it could earn Marine Stewardship Council certification, which came last month.

Working with Gorton's has been rewarding, according to Taranovski. "Sure, there are things about working with business that if you're working solely on an issue from a (non-government organization's) perspective you might take a different tack," she said. "But ... they're providing livelihoods. They have contracts ... shareholder interests and pressures that a company has that you have to take into account. It requires a different approach but … working together, we feel we can make more change than working independently."


20.25 | 0 komentar | Read More

BlackBerry faces class action shareholder lawsuit

TORONTO — A class action lawsuit has been filed against BlackBerry by a shareholder claiming the company misled investors about its future, including how the BlackBerry 10 smartphone line would fare against competitors.

The lawsuit seeks to represent thousands of shareholders who purchased BlackBerry stock from Sept. 27, 2012, to Sept. 20, 2013, a period in which it alleges executives misrepresented the state of BlackBerry's operations.

Marvin Pearlstein filed the lawsuit in a Manhattan court on Friday.

BlackBerry's CEO Thorsten Heins and chief financial officer Brian Bidulka are also named as defendants.

BlackBerry declined to comment.

BlackBerry disclosed last month that it would book nearly a billion dollars in losses related primarily to the write down of unsold BlackBerry Z10 touchscreen smartphones.


20.25 | 0 komentar | Read More

Egypt journalist gets 6-month suspended sentence

CAIRO — An Egyptian military court released an award-winning journalist Saturday after giving him a six-month suspended sentence for endangering national security by spreading false information in his coverage of operations against Islamic militants in the Sinai Peninsula, a security official and a lawyer said.

Ahmed Abu-Draa's lawyer called the lighter sentence an attempt to defuse criticism over the 38-year-old journalist's detention while still serving as a warning against challenging the military.

Political tensions have risen sharply ahead of mass rallies planned Sunday to honor the military and rival protests by supporters of ousted Islamist President Mohammed Morsi, a combination many fear will lead to a new round of unrest.

Already, there has been an uptick in violence ahead of the 40th anniversary of the Egyptian army's Oct. 6 crossing of the Suez Canal during the 1973 war with Israel. The war is celebrated for Egypt's initial battlefield victories over Israel, and is a national holiday traditionally celebrated with military parades, airshows and pro-military rallies.

The military-backed interim government is going forward with the celebrations, including performances planned in Cairo's Tahrir Square, the symbol of the Egyptians' uprisings against authorities since mass protests held there led to the downfall of autocrat Hosni Mubarak in 2011.

In a show of defiance, pro-Morsi supporters have also vowed to enter the central plaza, even though attempts to do so earlier this week were dispersed after riot police fired tear gas as clashes nationwide left four dead.

Pro-Morsi protesters, led by the Muslim Brotherhood, have been denied access to the iconic square and have faced a withering crackdown since the Islamist leader was toppled in a popularly backed military coup on July 3.

"Tahrir Square is not exclusive to those who support the coup," said Islam Tawfiq, a member of the Brotherhood's youth group. "We will enter it, God willing."

On Saturday, police fired tear gas to disperse dozens of Islamists rallying near Rabaah al-Adawiya, a square in eastern Cairo that was the site of a pro-Morsi sit-in that was violently razed by security agencies on Aug. 14, leaving hundreds dead.

Security has been beefed up around Cairo, with police and army vehicles deployed in strategic junctures on the eve of the celebrations in an attempt to prevent clashes between rival protests. The Interior Ministry, in charge of the police, warned in a statement that it would deal "firmly" with any attempts to "foil" the celebratory mood on Sunday.

Egypt's interim President Adly Mansour, in a nationally televised speech Saturday, urged people to take to the streets to celebrate the October anniversary and "support your army."

In a strongly worded statement, the presidential spokesman Ahmed el-Musalamani said those protesting the military on a national holiday "are carrying out the work of agents, not activists."

The case against Ahmed Abu-Draa, who was arrested on Sept. 4, has drawn outrage from fellow journalists and rights groups accusing the army of undermining freedom of expression and continuing to refer civilians to military tribunals, despite a campaign to stop the practice.

Colleagues said Abu-Draa's trial was an attempt to silence independent reporting from the flashpoint area, which sits on the border with Israel and the Gaza Strip. Few journalists have direct access to what is happening in Sinai because of security concerns, forcing many to rely on statement by officials.

Abu-Draa, who lives in Sinai and works as a freelancer for multiple Egyptian and foreign newspapers and television channels, had disputed the military's claims that no civilians were hit in an intensified operation against rising militant attacks in the Sinai. The military said it was only targeting homes of militants and tunnels used for smuggling goods to Gaza, but the journalist reported that civilian homes were hit and a mosque was damaged.

Abu-Draa told The Associated Press in a telephone interview after his release that he intends to return home to pursue his work, but noted the suspension runs for three years, meaning that if he commits another offense in this period, he would be punished for both

"This verdict is in itself a warning. If I do anything again, this sentence will be revived," he said, speaking from Ismailia, a Suez Canal city where he was held.

His lawyer Negad el-Borai said Abu-Draa had been held in solitary confinement in a military prison. "There is no case. He should have been set free," el-Borai said.

In addition to the suspended sentence, the journalist was fined $30 for entering a military zone without a permit. The court dropped charges of broadcasting news that undermine Egypt's reputation abroad, and filming strategic areas without a permit, according to el-Borai.

A security official said an intelligence report presented to the court had stated that Abu-Draa had acted with "good intentions." The official spoke on condition of anonymity because he was not authorized to speak to the media

An Egyptian photojournalist, Mohammed Sabry, has been facing a military tribunal since January for filming military installations in the Sinai. He has been released pending his trial.


20.25 | 0 komentar | Read More

Co. calculates need for iPad textbooks

It took a single semester of teaching freshmen physics at Harvard three years ago to convince Zachary Wissner-Gross that lectures — and the leading online learning programs that emulate them — are often the least effective way to teach.

"They all have the same basic format," said Wissner-Gross, who earned his doctorate in physics at Harvard after graduating Phi Beta Kappa from MIT. "All of them are linear, and the students' experiences are passive, whereas the majority of my students had to have lengthy conversations and work through problems one-on-one with each other or with me during my office hours. That was when they got the most out of the material."

His friend and former MIT classmate, John Lee, a senior software engineer at Google, agreed. Together, they thought they could build a better online learning platform. So in March 2012, the two of them founded their own company, School Yourself, and the following month, they released "Trigonometry," their first interactive "textbook" for iPad.

Two more former MIT classmates, Vivek Venkatachalam and Kenny Peng, joined their team. And the four of them wrote two other textbooks, "Hands-on Pre-Calculus" and "Hands-on Calculus," using iBooks Author. As of last week, the three books had been downloaded a total of more than 13,000 times through iBooks.

Because not everyone owns an iPad, though, they wanted to reach a larger audience by releasing Web versions, ones that would be even more interractive. So last week, they launched the free test version of their online platform for early calculus at schoolyourself.org. The platform is designed to be highly personalized, allowing users to watch 30 seconds of a video and then choose to solve a problem, see more examples or ask for a hint — or go backward or forward to other sections, based on their ability.

"It's very much like choose your own adventure," said Wissner-Gross, 28. "We're putting a lot of decision-making into the hands of students. We're trying to make it as close to a one-on-one experience as possible."

The next subjects the platform will tackle — tentatively some time in 2014 — will be trigonometry, probability and statistics, and physics. But for the moment, Wissner-Gross and his teammates are focused on calculus — and gearing up for the Oct. 30 awards ceremony for this year's $1 million MassChallenge competition, where they'll face off against 127 other teams from around the world.


20.25 | 0 komentar | Read More

Gov't work loses cachet for some

WASHINGTON — There was a time when being a federal employee meant a steady paycheck, great benefits and pride in serving the country.

But today, many federal workers are frustrated, anxious and tired of being pawns in the political struggle over government funding.

An Air Force acquisitions manager in Warner Robins, Ga., Tommy Jackson, says the stability of a government job is gone. Jackson and his wife are considering options in the private sector.

Jackson spoke before the House voted 407-0 Saturday to reimburse federal workers for lost pay during the shutdown. The Senate and President Barack Obama support the proposal.

Working for the government has long been a ticket to a middle-class lifestyle. But pay has been frozen for three years, and now there's the threat and reality of furloughs.


20.25 | 0 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger