Wheeler up for Commerce vote - White House makes jobs pitch at Amazon facility - Froman visits Chamber

By Alex Byers

With help from Jessica Meyers

DRIVING THE DAY: WHEELER UP FOR COMMERCE VOTE ? Senate Commerce lawmakers have a plethora of votes to take up today, and approval of FCC nominee Tom Wheeler is one of them. It?s been 90 days since the former telecom lobbyist was put up by the Obama administration, and the FCC?s had to make do with just three commissioners for most of that time. But no Republican has officially been floated to replace former commissioner Robert McDowell, meaning that even if Wheeler goes through committee today, the full Senate is likely to hold off on confirming him until he?s got a GOP companion (plus, there?s the August recess to contend with.) Separately, senators will vote on the Rockefeller/Thune cybersecurity bill that?s likely to be favorably reported, as well as the chairman?s Violent Content Research Act. Not on the schedule: Rockefeller?s Do Not Track bill, which was introduced in February but isn?t viable jn Congress right now. Things get underway at 2:30.

FEDGOV RESPONSES DUE TODAY IN GOOGLE/MSFT FISA PROCEEDINGS ? There?s a few opportunities for surveillance news to pop today. Among those for which you should have eyes peeled: Today?s the third deadline for the federal government to respond to Google and Microsoft?s requests that they be cleared to release more detailed data on the extent of FISA requests they receive. The government has already asked for two extensions, and asking for a third is an obvious possibility. But the administration says it wants to have a big debate on surveillance and national security ? at some point, they?ll have to weigh in. Separately, the administration is supposed to lay out a timeline for declassifying the FISA court?s opinion in 2008 proceedings with Yahoo. (That filing was actually due Monday, but we didn?t see it uploaded to the court?s filing site last night.)

Plus, CNN?s Barbara Starr reports that additional info about surveillance programs could be declassified as soon as today: ?A senior U.S. official tells CNN the information includes ?white papers? on surveillance programs but also previously undisclosed information about the Foreign Intelligence Surveillance Court. ... 'I think there is a high likelihood of FISC opinions being declassified soon,? the official said, although it does not appear the opinions themselves will be part of the upcoming declassification. http://bit.ly/17cDkNk

And, ICYMI: The Senate Judiciary Committee unveiled Monday night letters written from FISA court judge Reggie Walton to Chairman Patrick Leahy and ranking member Chuck Grassley. There?s a lot that may be of interest for surveillance wonks ? including the fact that no one has ever challenged a 215 order: http://1.usa.gov/17cEhFx

** Tell Congress what your commute to work is really like! ?I?m Stuck,? a new mobile app from Building America?s Future, allows travelers to share their frustration with Congress when they?re stuck in traffic, on the tarmac or delayed by subway.? Free iOS and Android download. http://action.bafuture.org/imstuck/ **

WHITE HOUSE MAKES JOBS PITCH AT AMAZON FACILITY ? President Barack Obama departs for Chattanooga, Tenn. this morning to make an afternoon speech and take a tour of an Amazon warehouse facility. It?s the first follow to the economic vision he teased in Illinois last week, which focuses (again) on a boost for the middle class. We?d expect to hear again about the manufacturing goals Obama laid out in this year?s State of the Union (he announced three new ?manufacturing innovation institutes? in February, and wants to see a total of 15.) Politically, the White House has a good frame for the speech, with the e-Commerce giant?s announcement Thursday that it?ll add 5,000 jobs. Some, though, are questioning whether those jobs are the ones the administration wants opening up ? Alec MacGillis in The New Republic makes the case here: http://on.tnr.com/16fQgFj.

The White House, of course, is a fan of Amazon?s policy baby, the Marketplace Fairness Act, which would allow states to collect online sales tax from out-of-state retailers. Separately, though, Amazon is suing the federal government over the disruption of a major cloud-computing contract it signed with the Central Intelligence Agency earlier this year. Today?s speech is set to start at 2 p.m.

GOOD TUESDAY MORNING and welcome to Morning Tech, where we?ve just enjoyed a crisp and refreshing Lagunitas IPA. It?s highly recommended, if that?s your style ? do send along your own recommendations to abyers@politico.com and @byersalex and catch the rest of the team?s contact info after speed read.

CBS v. TIME WARNER SAGA CONTINUES ? TWC subscribers in New York, Dallas and Los Angeles lost their CBS service briefly midnight this morning. More on the retrans negotiations, wherever they stand when you read this, from the NYT: http://nyti.ms/1bEwoAG

inSPIRE STEM USA PITCHING HILL ON IMMIGRATION?S TECH, AGRICULTURE BOOSTS ? The advocacy group is hosting a briefing this afternoon on the economic benefits of comprehensive immigration reform, and they?re getting a hand from tech. The meeting, open only to congressional staffers, will feature Microsoft?s Bill Kamela, the National Association of Manufacturers? Christine Scullion, and Hamilton place Strategies? Tony Fratto. As part of the pitch, attendees can expect to hear plenty about the need for a STEM education fund, which some like inSPIRE had pushed aggressively for as part of the Hill?s immigration work. They got it in the Senate bill, but that measure isn't getting a vote in the House ? and the lower chamber?s skilled-workers bill doesn?t have include a STEM fund. The briefing starts at noon in Rayburn B340.

FROMAN VISITS CHAMBER ? Chamber of Commerce President Tom Donohue will chat up USTR head Michael Froman this morning, as the administration looks to start wrapping up negotiations on the Trans-Pacific Partnership and further dig into discussions with the EU. Business groups are pushing for faster movement on both fronts, and a chamber spokesperson said the conversation will touch on each one, as well as an Information Technology Agreement that recently stalled in Geneva. The U.S. accused China of holding up ITA negotiations, but the Chamber spokesperson sounded an optimistic note there, saying ?there?s still ?cause for hope for the first time in years as trade negotiators pursue new agreements in services, tech goods, and trade facilitation.? Watch, too, for mention of legislation that would fast-track trade agreements, and how the administration will try to squeeze it through Congress. The conversation gets going at 10 a.m.

HELLER DROPS FCC REFORM BILL ? Nevada?s Dean Heller, who led process reform work for the Senate GOP last Congress and indicated last month that he?d continue carrying the torch, introduced Monday an upper-chamber version of the House bill that would alleviate some of the commission?s reporting burdens. The full House Energy and Commerce Committee is slated to vote on their version of the bill Wednesday, which has both House telecom Chairman Greg Walden and ranking member Anna Eshoo signed on as co-sponsors. It?s not clear, though, that there?s as much bipartisan agreement on the issue in the upper chamber. A Heller aide declined to give an assessment of the landscape in the Senate.

KLOBUCHAR & CO. TACKLE STANDARDS ESSENTIAL PATENTS ? ?The Senate antitrust subcommittee examines this morning the mess that is standards essential patents and how they factor into antitrust law. Testifying are reps from Intel, Qualcomm, IEEE-USA and the Federal Trade Commission, and it?s a fair bet that the FTC?s decision on SEPs in the Google case is going to get dissected. At the same time, it?s unclear where lawmakers stand on legislating in the space ? and relatedly, what changes they could feasibly make. The hearing starts at 10 and can be streamed here: http://1.usa.gov/17cBb4n

MCKENNA IN AS NAJI PRESIDENT ? Former Washington state Attorney General Rob McKenna will serve as the next president of the National Alliance for Jobs and Innovation, MT hears. The group, fighting intellectual property theft and economic espionage and more than 200 strong, already has the National Association of Manufacturers? Brian Raymond and steel exec Drew Greenblatt atop its leadership group. McKenna just finished an eight-year stint as Washington?s attorney general, and is former president of the National Association of Attorneys General, where he co-launched an IP task force.

FCC NABS NEW CIO -- Alex Howard scoops: ?David Bray, a seasoned national intelligence executive, will be the next chief information officer of the Federal Communications Commission. He?s expected to finish his work in the intelligence community at the Office of the Director for National Intelligence and commence work at the FCC in August. ... His background in the intelligence community will serve him well, with respect to network security issues, but he?ll need to continue to transition an agency that has traditionally outsourced much of its technology to 21st century computing standards and approaches to building infrastructure and meeting increasing demand for services.? http://bit.ly/1bEvHqU

SPEED READ

LONG SHOT FOR OBAMA ECON PROPOSALS: He?s returning to themes from the State of the Union, The Wall Street Journal reports: http://on.wsj.com/1e7osUg

TWITTER MAKES IT EASIER TO REPORT ABUSE: The decision follows an online petition regarding a case in the United Kingdom, The New York Times reports: http://nyti.ms/13ivBQm

THE RISE OF ROBOTIC ASSISTANTS: The idea is to predict what users want before they ask, The New York Times reports: http://nyti.ms/13qUcyF

MISTREATMENT OF WORKERS ALLEGED AT APPLE SUPPLIER: A human rights group infiltrated a Chinese factory and released its findings, the San Jose Mercury News reports: http://bit.ly/1e7pUpO

Tips, comments, suggestions? Send them along via email to our team: Alex Byers (abyers@politico.com, @byersalex), Eric Nelson (enelson@politico.com), Eric Engleman (eengleman@politico.com, @ericengleman), Brooks Boliek (bboliek@politico.com, @technocowboy), Steve Friess ( sfriess@politico.com, @stevefriess), Jessica Meyers (jmeyers@politico.com, @jessicameyers), Michelle Quinn (mquinn@politico.com, @MichelleQuinn), Tony Romm (tromm@politico.com, @tonyromm) and Bobby Cervantes (bcervantes@politico.com, @BobbyCervantes).

** Every day, millions of Americans waste precious time, money and energy stuck in traffic, waiting for a bus, delayed on an airport tarmac or crammed into an overcrowded subway ? now, you can do something about it. ?I?m Stuck,? a new mobile app from Building America?s Future, enables delayed commuters to directly email Members of Congress and share their frustrations about the need to modernize and upgrade our transportation and infrastructure systems. ?I?m Stuck? is available for free download on iOS and Android. http://action.bafuture.org/imstuck/ **

Source: http://www.politico.com/morningtech/0713/morningtech11285.html

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Merck 2Q profit tumbles on charges, lower revenue

Drugmaker Merck & Co.'s second-quarter profit fell by half as generic competition slashed revenue from several older medicines and sales of its top drug barely budged.

Acquisition costs and other charges also hurt the bottom line, the world's third-largest drugmaker said Tuesday.

Merck also noted that unfavorable exchange rates reduced revenue by 3 percent.

It maintained its profit outlook for the year, but reduced its forecast for revenue, citing exchange rates and other factors. It now says it expects sales to be 5 percent to 6 percent below their level in 2012, when sales dipped nearly 2 percent, to $47.27 billion.

The lower revenue outlook is unusual for Merck. When it's been weathering patent expirations in the past, as with osteoporosis pill Fosamax and cholesterol drug Zocor, it has always aimed to keep revenue fairly steady and generally has done so.

But this year, it has been slammed by plunging sales for not just its former top seller, asthma and allergy pill Singulair, but migraine drug Maxalt, baldness treatment Propecia and allergy pill Clarinex.

The maker of blockbuster diabetes pill Januvia and Gardasil, a vaccine against sexually transmitted cancers, said its second-quarter net income was $906 million, or 30 cents per share, down from $1.79 billion, or 58 cents per share, a year earlier.

Excluding one-time items totaling $1.62 billion, or 54 cents per share, Merck said adjusted net income was $2.53 billion, or 84 cents per share. Analysts surveyed by FactSet expected 82 cents.

Merck, based in Whitehouse Station, N.J., said revenue fell 11 percent to $11.01 billion. Analysts expected slightly higher sales of $11.24 billion.

Merck shares fell 29 cents to close at $48.05.

"It's another round of disappointing news from Merck. Januvia sales have stalled, missing consensus estimates by a mile. Gardasil sales are up but also missed estimates," Erik Gordon, an analyst and professor at University of Michigan's Ross School of Business, wrote in an email.

Gordon noted that Merck has run into trouble with patient tests of some experimental drugs not going well.

"There is not much to smile about. The new R&D head's first move was to cut jobs. That won't be enough to get Merck on track," he added.

Revenue from Merck's prescription medicines and vaccines fell 12 percent to $9.31 billion.

Sales of top seller Januvia edged up just 1 percent to $1.07 billion, although Janumet, a pill that combines Januvia with widely used generic diabetes drug metformin, rose 16 percent to $474 million. Gardasil sales rose 19 percent to $383 million.

But sales of Singulair ? the world's 11th-best-selling drug until it got generic competition last August ? plunged 80 percent to $281 million. It brought Merck $5.5 billion back in 2011.

Sales of consumer health products such as allergy pill Claritin and the Coppertone sun care line dropped 11 percent to $490 million. Merck blamed that mostly on the termination of some distribution agreements in China for those products.

Sales of veterinary medicines and vaccines edged down 2 percent to $851 million.

"This quarter, our business momentum accelerated while we continued to manage our costs," CEO Kenneth C. Frazier told analysts during a conference call.

The company backed its previous 2013 profit forecast for earnings per share of $1.84 to $2.05, excluding one-time items. Including those items, Merck said it expects $3.45 to $3.55.

"The longer-term financial outlook for (Merck) looks reasonable but not great," Bernstein analyst Dr. Tim Anderson wrote in a note to investors. "Despite some important future patent expirations, (Merck's) revenue and earnings base should hold relatively steady across the years on balance," with "some reasonable degree of revenue and EPS growth."

___

Follow Linda A. Johnson at http://twitter.com/LindaJ_onPharma .

Source: http://news.yahoo.com/merck-2q-profit-tumbles-charges-lower-revenue-112632486.html

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Your Real Estate Market? Blog Archive ? Real Estate Las Vegas

Is it good time to buy real estate in las vegas,NV now? The purpose is to invest, rent out for vacation. If so, what is the good/safe area to buy a detached house ? I will search for the price of the area online later. Thanks a lot for the help. From what I can tell? Yes this is a good time to invest in real estate in just about any part of the United States. You have to do what is named in the real estate investment trade as foot work. No one can determine what property your would consider a good safe area. What one person consider safe and a good area might not be so good to another. So get in your car, check out a few areas that you would want to invest in. At the time you are checking out the area make sure you get the crhyme reports from the local police. You might also get out of the car and talk to the people walking and talking on the street. I find that they normally know more than the police, because the police can only tell you what crhymes are reported to them. You might also purchase a couple of real estate investment books from your local book store. This will assist you with several things you need to know before investing in real estate. Ignorance cost a high price. #1 You will also need an effective marketing plan #2 You will need real estate professionals to assist you with your new investment field. #3 You will need a source of funds to fund your real estate acquisitions. (Don?t depend on banks in a up or down turn in the real estate market, they are not your best friends. ) I hope this has been of some benefit to you, good luck. ?FIGHT ON?

Tags: Acquisitions, Best Friends, Book Store, Car Check, Detached House, Effective Marketing, Field 3, Foot Work, Good Time, Investing In Real Estate, Investment Field, Investment Trade, Marketing Plan, Price 1, Real Estate In Las Vegas Nv, Real Estate Investment, Real Estate Investment Books, Real Estate Las Vegas, Real Estate Professionals, Source Of Funds

Source: http://yourrealestatemarket.com/real-estate-las-vegas

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Ensley event aims to reduce violence, helps families with clothes ...

BIRMINGHAM, Alabama -- Brenda Paige Ward should have been celebrating her son's 23rd birthday Monday.

Ra'Sheed Ward was 19 when he was shot and killed on Terrace S in Ensley the night of June 17, 2010. She said he and a friend of his were standing around when someone gunned down 24-year-old Keith Hilson. Ra'Sheed was hit three times and died at UAB Hospital, she said. His friend was hit in the buttocks and the wrist but recovered.

Since then, Brenda Ward has been trying to bring peace to her community. On Monday, she organized an event at Central Park Recreation Center where children in and around Ensley could come together, get some clothes and school supplies, and see something positive in their community.

Ward ran this event, and runs others, through the organization Refuge in Troubled Times.

"We wanted to be a refuge for those who are hurting and grieving over the loss of their children," she said.

At Monday's event, which lasted about two and a half hours, the group gave out clothing and food and local barbers offered free haircuts before the start of school. The food and school supplies were all donated by various organizations.

But Ward wanted it to be about more than just giving away goods; she wanted it to be about family and community.

"We asked that the parents -- not their grandmother -- be here with the kids in order to get school supplies," she said.

In addition to food, clothes, school supplies and haircuts, people were able to learn about different programs in the community, including educational opportunities and the Girl Scouts of North-Central Alabama.

Four representatives with the Girl Scouts were passing out information, trying to recruit as many girls as possible. The organization is reaching out to girls in under-served areas and those who are at risk because of social situations, volunteers said. A troop meets regularly at Central Park Elementary School in Ensley, representative Shawana Ariel said.

Rhonda Rutledge was handing out bags of school supplies and baby clothes and said she's been volunteering and working in the community since two of her sons were shot. An event like this, she said, sets an example for young children.

"We're starting out with the young children first," she said. "They don't have positive role models so when they see things like this it gives them hope."

She said events like these make the whole community better.

"We've got to keep trying," she said. "We can't give up."

Six-year-old Yana Davis was there with her parents. She performed for the crowd -- she wants to be a model when she grows up -- and enjoyed some free cake and ice cream in addition to picking up some school supplies.

"I got books and I got some jeans," she said.

Ted Turner brought his son, 10-year-old Darius Colston, for a haircut, a snack and some school supplies. Turner said he appreciated that the children in the area had a place to come together and have fun in a safe environment.

"They ain't got nowhere else to bring kids together," he said.

Source: http://blog.al.com/spotnews/2013/07/ensley_event_aims_to_reduce_vi.html

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Tough fight ahead for Ore. GOP governor contender

By JONATHAN J. COOPER The Associated Press

SALEM, Ore. -- A Republican state representative is getting an early start in his bid to be Oregon's next governor. But if history is a guide, then Dennis Richardson has a challenging road ahead.

No one younger than 27 has lived in Oregon under a Republican governor, and it's been more than a decade since a GOP candidate was elected to statewide office. Even in 2010, the best year in memory for Republicans, the tea-party fueled conservative wave crashed short of Oregon.

"People are ready for a change," Richardson said last week after announcing his run for governor. "They want a plan that they can believe in."

Richardson represents Central Point and is largely unknown outside southern Oregon except to those who follow the Legislature closely.

Among his challenges will be introducing himself to the electorate and convincing Portland-area voters to give a conservative a chance. Democrats have been able to make up for weaknesses in the rural areas of Oregon by running up strong margins in Portland and its suburbs.

All of that will take a lot of money. Chris Dudley, the 2010 Republican nominee, spent more than $10 million in his losing bid, much of it his own money.

"There are always two races. The first race is about the money, and the second race is about the votes," said Greg Leo, a lobbyist and former chief staffer at the Oregon Republican Party. "We'll see what happens on the fundraising, which now starts in earnest."

Richardson also faces a Republican primary. Eastern Oregon rancher Jon Justesen is seeking the GOP nomination, and other Republicans also could jump in.

"I'm announcing now so that other Republican candidates might have the idea that, 'Well, if Richardson's willing to do this, we'll support him rather than getting into a highly contested primary,'" Richardson said. "If one comes, that's the way the system works, I'm happy to work with that, it gives us practice for the general election."

The biggest factor that will determine the course of the governor's race, however, is the decision of the current governor about whether to run. Kitzhaber has said he's still making up his mind about whether to run and will announce his decision in the fall.

After three terms in the governor's office ? the first two from 1995 to 2003 ? Kitzhaber is a well-known figure in Oregon. He's carved out socially liberal and fiscally moderate positions, sometimes angering the left.

Asked about Richardson at a press conference Thursday, Kitzhaber said the Republican was "a very solid partner" in the 2011 and 2012 legislative sessions, which he called "extraordinarily bipartisan and productive."

"I welcome anyone who wants to seek higher office in this state," Kitzhaber said. "I have not made a decision about my own political future, but I wish Rep. Richardson well."

Richardson, 62, grew up in Los Angeles and flew helicopters for the Army in Vietnam. He settled in Southern Oregon in 1979, was first elected to the Legislature in 2002 and rose to be the co-chairman of the Ways and Means Committee when Republicans shared power with Democrats after the 2010 election.

"By and large, I think he's got a very, very low profile," said Len Bergstein, a lobbyist and former Democratic political consultant. "I haven't see any polls, but I think he doesn't come anywhere near challenging Kitzhaber in public awareness, perception, reputation."

Source: http://www.miamiherald.com/2013/07/28/3527336/tough-fight-ahead-for-ore-gop.html

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Enjoy These Top Tips For Successful Website Marketing - Internet ...

Website marketing can help your business. Online marketing offers a variety of ways to reach customers all over the world. A lot of them are even cheap, as well as effective. This article can help you to enter the world of Online marketing, and build your business to levels that you have only dreamed of.

Provide an easy way for others to link back to your website by providing an attractive link-back button. That makes it easy for those who are so inclined to click and link back to your site, thus allowing their visitors to easily find you as well.

The key to successful Web marketing is recognizing a need or want and filling it. When you start your day, create a list of questions that need answering. When you solve someone?s problem, not only will they become loyal customers, they will also tell their friends about their good experience.

Regular blogging is an asset to any internet marketing campaign. Blogging allows you a forum in which your customers can be informed about various products. Additionally, a blog increases the size of your website, which causes your search engine visibility to increase, which gives you more visitors in this long run.

Always be cognizant of your competition as an Internet marketer. It is easy to look at your competitor?s sites and see what kinds of features they are using. This also gives you an opportunity to gauge their traffic against yours.

You may want to consider writing a blog. Feeding the search engines original content is key. Without it, your site will drop in the rankings. A blog is a very effective tool for adding fresh, relevant content.

The target of an Web marketing campaign must be to increase Internet promotion efforts. This may seem crazy, but it is essential to have customers find you, buy from you, and then come back to your site.

You may not be able to afford an expensive consultant, but there are still plenty of useful resources available for free on the Internet that can help you improve your marketing campaign. On the internet there is a wide variety of mediums to choose from to help you learn about web marketing.

Establishing your credibility among your customers is essential. Your promotions and marketing efforts must be based in fact. Promote your products using only factual testimonials and statistics.

As has been revealed earlier, website marketing is an amazing way to reach out to customers and to bring attention to your business and products. The opportunities are endless and the benefits are immense. By utilizing the information in the article, you can build your customer base and bring new recognition to your company.

Source: http://internetmarketingforums.net/?p=334

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Algonquin plans road closures for parade, fireworks

ALGONQUIN ? Village officials have planned numerous road closures for the Founders' Days events scheduled for Saturday and Sunday.

On Saturday, the annual parade is scheduled for 11 a.m. Police plan to start diverting traffic and close Routes 31 and 62 at 10 a.m., according to a news release.

The parade begins at Eastgate Drive and Route 62. It goes west on Route 62 over the Fox River and then goes south on Route 31. The parade will end at Madison Street, but Route 31 will be closed at Edgewood Drive.

No traffic will be allowed onto the northbound Route 31 side streets of LaFox River Drive, Division Street or Jayne Street other than residents who live in the subdivision, the news release said.

On Sunday, Harrison Street from Route 62 to Edward Street will be closed from 5 to 11 p.m. to allow for the preparation of the annual fireworks display. No parking will be allowed on the section of Harrison Street on Sunday.

No one will be allowed to remain on the bridge on Route 62 over the Fox River from 7 to 11 p.m. Sunday.

The bridge will be kept open for the flow of pedestrian traffic to Riverfront Park before the fireworks, but there will be no pedestrian traffic crossing of Route 62 at River Road before, during or after the fireworks, the news release said. All pedestrian traffic must cross Route 62 at either Harrison Street or Eastgate Drive.

Source: http://nwherald.com/2013/07/24/algonquin-plans-road-closures-for-parade-fireworks/azatgzp/

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NYC Performs Final Subway Airflow Test

NEW YORK CITY ? On a street in Manhattan's Lower East Side, an unremarkable gray box protrudes from a telephone pole. Inside the box lies a state-of-the-art airflow-sampling device, one part of an experiment to track how a gas disperses through the city's streets and subway system.

Today, researchers from Brookhaven National Laboratory in Long Island performed the third and final test in the experiment (July 25). The goal of the project is to develop a model for how a dangerous airborne contaminant, such as sarin gas or anthrax, would spread throughout the city in the event of a terrorist attack or accidental release. [What Were the Worst Subway Attacks in History?]

The scientists released tiny amounts of a colorless, nontoxic gas at several locations around the city. The airflow samplers, located at various points throughout the city, measured the gas to determine how fast and how far it spread.

"Once we get all the data, first responders and emergency management people will be able to use the information to make informed decisions on how to best react," said study co-leader Paul Kalb, head of environmental research and technology at Brookhaven.

The study, called the Subway-Surface Air Flow Exchange (S-SAFE) project, will answer questions such as where people should shelter if a contaminant is released and which areas should be evacuated, Kalb told LiveScience.

The gas used in the study is a nontoxic substance called a perfluorocarbon tracer (PFT). These gases are commonly used in airflow and pollution studies, as well as in medical settings. Hoax fliers posted online and in the subways claimed that the PFTs being released were dangerous. While other chemicals in the perfluorocarbon family may be harmful to human health, the ones used in the study are completely inert, Kalb said, meaning they don't react with other molecules, including the ones that make up human bodies.

Most of the air sampling happens automatically, but Kalb, dressed in a neon-yellow safety vest, was on-scene to monitor the experiment's progress. Just this morning, one of the sampling boxes went offline. It turned out the box had been knocked off of an electric pole, probably due to a car accident, Kalb said.

The results of the airflow tests will remain confidential, however. "We absolutely don't want to provide useful information to potential terrorists on how to best poison New York," Kalb warned.

Airflow can be affected by several factors, primarily wind speed and direction. The tests had to be performed on days with average winds; otherwise the tiny quantities of tracer would dissipate before the samplers could detect them. Today's unseasonably cool, slightly rainy weather met the researchers' criteria.

Brookhaven conducted an airflow study in New York in 2005, but this did not include the subway system. Other studies have been conducted in the subways of Boston, Washington, D.C., and London.

Follow Tanya Lewis on Twitter and Google+.?Follow us @livescience, Facebook & Google+. Original article on LiveScience.com.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/nyc-performs-final-subway-airflow-test-223714344.html

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Twitter Mailbag: Flyweights as headliners, MacDonald vs. GSP, MMA's best class

It's fight week once again, which means this edition of the Twitter Mailbag gets right to work with questions about the upcoming UFC on FOX 8 card in Seattle.

After that, well, that's when we get into the fun stuff like light heavyweights who really want to be middleweights and heavyweights who want to be light heavyweights. Don't worry, we'll also find some time to talk discretionary bonuses, zombies of Korean origin, and broadcasting dream teams.

As always, you can direct your own question to @BenFowlkesMMA on Twitter.

* * * *
Maybe I'm just spending my time on the wrong websites (mainly that one where Garfield is removed from all the Garfield cartoons, filling them with a strangely touching existential dread), but I actually haven't seen too much complaining about Saturday night's flyweight headliner. And that's good, because what is there to complain about?

The 125-pound tilt between champ Demetrious Johnson and John Moraga at the top of the UFC on FOX 8 card is, after all, a title fight on free TV. If you complain that it's not a big enough title fight for the UFC's FOX series, then you can't also complain when the same title is being contested on pay-per-view. You can't complain that the flyweights aren't getting enough exposure either, because dude, it doesn't get much more exposed than a main event on FOX. How are we ever supposed to get to the point where fans won't complain about paying for flyweight fights if we also complain about getting their fights for free?

Point is, we've got to pick our complaints carefully, lest we turn into a bunch of jerks who will complain about absolutely anything. Or, more accurately, lest we continue to be those jerks indefinitely.

To be fair, Moraga didn't dump it all on Johnson's doorstep. But he is right that, as the champion, Johnson is the most consistently visible fighter in the UFC's 125-pound class. For fans who don't watch Facebook prelims, he might be the only flyweight they've ever seen more than once. It's reasonable to assume that those fans will make assumptions about the entire weight class based on what they see from Johnson, and at least so far we haven't seen anything too spectacular.

Look at the criticism of the flyweights in general and of Johnson in particular, and you'll see some similarities. The little guys, or so their detractors say, just bounce around the seemingly cavernous cage with displays of speed and footwork that are impressive, but ultimately result in very little violence. Flyweights don't finish, at least according to the people who have seen Johnson but not Moraga. So yeah, Johnson has to take a little of the responsibility for that. He is pretty darn bouncy in there. And no, he hasn't finished anyone in the UFC. If he wants people to shut up about it, he's got five rounds worth of chances to change that narrative on Saturday night.

For starters, the UFC could have not put his most recent fight on Facebook. That seems like the obvious answer, though one with the benefit of hindsight.

Still, because the division is so shallow, as you point out, the UFC should have been able to predict that the winner of Moraga's fight with Chris Cariaso at UFC 155 would probably end up in a flyweight title fight relatively soon thereafter. But instead of putting it on the main card (you can't tell me it wouldn't have been a better kickoff to the pay-per-view portion than Chris Leben vs. Derek Brunson) or even the FX portion of the prelims, the UFC stuck the only two flyweights in the lineup all the way at the bottom. That doesn't seem like a great plan for building future stars in a still-growing division.

If you want people to care about a title fight, it helps if they care about both fighters competing in it. Failing that, you'd like for fans to at least have heard of these guys before you try and promote one of them as the next potential champ.

Not necessarily. Between the superfight talk that just won't die and Georges St-Pierre's slow shuffle toward possible careers outside the cage, I wouldn't be the least bit surprised if GSP was no longer in the welterweight picture by the time Rory MacDonald's case for a title shot becomes impossible to ignore. I also wouldn't be too terribly surprised if MacDonald gets beaten by Jake Ellenberger this weekend, which would shut down that teammate-vs.-teammate situation before it really starts.

Clearly, the 24-year-old MacDonald has a ton of talent and potential. At the same time, he doesn't have any wins over elite, full-time welterweights. He beat Mike Pyle, but so did Ellenberger. He looked good in a loss to Carlos Condit, but so did Ellenberger. He beat an over-the-hill B.J. Penn and an undersized Nate Diaz, while Ellenberger knocked out Jake Shields and Nate Marquardt.

This is a close enough matchup that I wouldn't be too surprised either way it went, but it does seem like maybe the hype has gotten ahead of the actual results when it comes to MacDonald. I can understand people feeling exciting about what he might become, but that doesn't mean he's there yet. We'll have to wait until Saturday night to find out.

Possibly. It certainly makes you wonder how big a role it played in Chael Sonnen's decision to move back down to middleweight after his fight with Mauricio "Shogun" Rua, doesn't it?

In fact, without that shakeup at the top of the division, Sonnen's move doesn't make that much sense. Why go on TV before a fight with a former light heavyweight champ and announce that, once it's over, you're bolting from the weight class and heading back to the division where you've already lost two title fights? It makes the matchup with Rua seem suddenly meaningless. Maybe Sonnen likes his chances against Chris Weidman, or maybe he just likes his chances of snagging another big money title fight if he moves to a weight class where he hasn't already been throttled by the champ. Either way, it's hard to imagine him making the same move at the same time if Silva had come out on the winning end earlier this month.

Roy Nelson is a fighter with the virtues of his faults. Dude is stubborn as all hell, which serves him well in fights but maybe not so much in areas such as training and career management. He is literally and figuratively hard-headed, and he always has been. Before his last fight with Stipe Miocic, there were rumors that Nelson had burned too many bridges at home in Las Vegas and, for that reason, was having trouble finding quality training partners. By the time he got in the cage in Winnipeg, he looked like a man who'd either pushed himself too hard or not enough, though his sheer obstinance carried him through the full three rounds.

Now he's got the new contract he wanted, and he seems happy with the nine-fight deal ? at least for now. You have to wonder if the UFC wasn't at least partially motivated to lock him down for so long just to avoid having to renegotiate with him in a year or two. Will he fight all nine? My guess is probably not. He's 37 years old right now, and even if he fought at a consistent pace of three times a year, which is optimistic, he'd be 40 before this deal is done. In this sport, the guys who rely on stubbornness as much as Nelson does usually do so at the expense of career longevity.

It's getting there, but I think lightweight is still the most talent-rich division not only in the UFC, but in all of MMA. To support that claim, I'd point to the fact that at least one the men in the featherweight title picture is really a lightweight who figured he could drop the extra 10 pounds and get a shot quicker than if he stuck around in the crowded 155-pound class.
It seems odd that it would, because a) a win over Nelson right now wouldn't (and by wouldn't I mean shouldn't) earn you a title shot in the heavyweight division, and b) most people would probably want to see Cormier prove he can make light heavyweight before granting him a crack at the champ.

Word is that Cormier wants to bring his weight down gradually in anticipation of a potential move to 205 pounds, which is why this fight with Nelson makes sense to begin with. If Cormier wants to come in lighter than usual to see how his body reacts, who better to do it against than one of the less enormous heavyweights in the division? And if the UFC is going to let Cormier have a chance at knocking one of its existing heavyweight contenders further down the ranks, why not let it be Nelson, who's already out of the title picture for the time being?

If Nelson pulls off the upset and beats him, fine, he's back in the conversation and Cormier can still move down and get himself a win at light heavyweight to bolster his case for a shot at Jon Jones. Ideally, he would do that anyway.

Not really. Teixeira's run is impressive, but he still hasn't beaten any elite light heavyweights in the UFC. A win over Bader right now wouldn't change that, which is what sucks about this match-up for Teixeira. He absolutely cannot afford to lose if he wants to make his case for a title shot while he's still young, but beating a guy who's 3-3 in his past six fights doesn't propel you to the top. He can't become a top light heavyweight until he beats one, and he can't beat one if the UFC won't give him one. If Cormier does come straight down from heavyweight and into a title fight with Jones, Teixeira doesn't have to like it. He does, however, probably have to accept it.
I'm not sure if you're asking me to name my three favorite two-person broadcast teams (there aren't that many existing combos to choose from in this sport to begin with) or if you're asking me to put together a three-person dream team. Because it seems like a more interesting question, I'm going to assume it's the latter and tell you that if I had my way and if contractual obstacles were no issue, all big fights would get a three-person crew.

In the play-by-play spot, I'd want either Jon Anik or Mauro Ranallo, assuming Ranallo hasn't abandoned us for good in favor of boxing. In the color commentator spot, I'd want Joe Rogan, who is not without his faults but is generally a solid, dependable presence on the broadcast. The third spot I'd reserve for an ex-fighter analyst like Brian Stann or Pat Miletich. Both are excellent at explaining the finer technical points of the sport, without it feeling inaccessible to the newer fans. Maybe they could also come up with something new to say when Rogan goes off on another rant about steel cups or MMA glove designs.

It sure doesn't sound easy, and the odds only get longer if you've been on the shelf with injuries for over a year, as Chan Sung Jung has. Honestly, that's my biggest concern for "The Korean Zombie." Jose Aldo is tough enough as it is. Fighting him in Brazil is even tougher. But fighting him in Brazil while you're even just a little bit rusty from a long layoff? That sounds like the blueprint for a very bad night, if you ask me.
It's one of the issues, sure. The problem is, it's difficult to talk about, precisely because of the undisclosed nature of those discretionary bonuses. The UFC seems to want it both ways on this one. It won't tell us what it pays fighters in bonuses (unless they complain about their pay, and then we hear all about it), and it claims that the fighters want it this way. And yet, when we start having a discussion about fighter pay, the UFC somehow expects us to include these unreported figures in the conversation. We can't do that because we don't know exactly what the figures are. The UFC is essentially asking us to take its word for it that the fighters are getting plenty of money, which obviously we aren't going to do.

Talking to fighters about the discretionary bonuses, you get the sense that they're kept guessing as well. Sometimes they can double their pay with a performance that the UFC execs deem exciting enough. Other times they might get a couple grand extra for a so-so fight. Sometimes they keep checking the mailbox in the weeks after a fight, only to find there's no bonus coming at all.

You talk to the UFC and they tell you that fighters are feeling the financial love behind closed doors, don't you worry. Then you talk to the fighters and they tell you that there are times when they expected a little more appreciation than they found. As long as the bonuses stay private and undisclosed, we can't talk about them in any more than the vaguest of terms. Right now, what we know is that some guys get some extra money some of the time. They don't know exactly what they'll earn before the fight, and we rarely find out what they really made after the fact. That does not make for an informed and intelligent discussion on fighter pay, which might be exactly how the UFC wants it.

Ben Fowlkes is MMAjunkie.com and USA TODAY's MMA columnist. Follow him on Twitter at @BenFowlkesMMA. Twitter Mailbag appears every Thursday on MMAjunkie.com. Edit this article

Source: http://www.mmajunkie.com/news/2013/07/twitter-mailbag-flyweights-as-headliners-macdonald-vs-gsp-mmas-best-class

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South Africa's 'worst rapist' hangs himself before trial

JOHANNESBURG | Thu Jul 25, 2013 7:17am EDT

JOHANNESBURG (Reuters) - A man suspected of being South Africa's worst known serial rapist has been found dead in his prison cell hours before he was to go trial on charges that included sexually assaulting 34 children, prosecutors said on Thursday.

Sifiso Makhubo, 42, was facing a total of 122 charges for murder, rape, kidnapping, robbery, and attempted murder by infecting his victims with HIV, the virus that causes AIDS.

He was thought to have hanged himself with a blanket in his prison cell and authorities were investigating the circumstances of his death.

The horrific nature and breadth of the crimes shocked South Africa, a country inured to some of the world's highest levels of sexual violence.

In the year to April 2012, more than 64,000 sexual offences, including rape, were reported among South Africa's 50 million people. Of these, more than 25,000 were assaults on children.

In 2010, South Africa recorded 132.4 cases of reported rape per 100,000 population, by far the highest among countries that reported statistics to the United Nations, compared to 27.3 in the United States or 2.1 in Uganda. Reporting rates and definitions of rape do, however, vary sharply from country to country.

(Reporting by Jon Herskovitz; Editing by Kevin Liffey)

Source: http://www.reuters.com/article/2013/07/25/us-safrica-rape-idUSBRE96O0FU20130725?feedType=RSS&feedName=worldNews

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Marc Anthony defends singing 'God Bless America'

Performances

Randee Dawn TODAY contributor

3 hours ago

Marc Anthony may have just released his 11th studio album, but he's calling it "3.0," in part a clear reference to a reinvention of his public persona. The Grammy winner trotted that new, upgraded self onto the TODAY plaza Tuesday to rock out with a brand new salsa-flavored song, "Vivir Mi Vida" ("It's My Life") ? and talk to Matt Lauer and Savannah Guthrie about the controversy that popped up over another tune he recently sang.

"It's like a whole new and improved me," he joked about "3.0," noting it was a "little tongue-in-cheek" reference ? and that someone else had taken "2.0" already.

But he was more serious in responding to Lauer's question about Anthony's performance at Major League Baseball's All-Star Game on July 16, where he sang "God Bless America" and surprisingly drew some criticism on Twitter and the Internet, with some non-fans who apparently didn't think he was "qualified" to sing that famous anthem.

"If I'm not qualified, I don't know who is," said Anthony. "I was born and raised in New York; I'm an American; I'm Puerto Rican. And for those who don't know, Puerto Rico is a territory of the US to start with.

"But if you think about it," he added astutely, "Irving Berlin was a Russian-Jewish immigrant who wrote 'God Bless America.' Just think about that for one second." (Berlin was born in modern-day Belarus, which at the time was part of the Russian Empire.)

Anthony didn't linger on the controversy, however; he was ready to get his music out. And even 11 albums in, he says he feels younger than ever. "I literally feel like I'm 18 all over again, and I have so much more to do!" he said.

Source: http://www.today.com/toyotaconcertseries/marc-anthony-singing-god-bless-america-if-im-not-qualified-6C10717154

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Motorola Droid Ultra and Droid Maxx for Verizon hands-on (video)

Like clockwork, Motorola and Verizon have refreshed their joint Droid lineup, and we're here to check out all three devices. The two more premium handsets, the Droid Ultra and Droid Maxx, are the most promising of the bunch for advanced users, replacing last year's Droid RAZR HD and RAZR Maxx HD and offering the requisite 4G LTE connectivity. Both of those smartphones were at the top of their game in 2012, and that trend appears to continue here -- the Ultra and Maxx are very similar, with the latter boosting the battery capacity, enabling power users to make it through a full day.

Like its predecessors, the Ultra and Droid Maxx (pictured above) sport Kevlar bodies, both of which look sleek and feel sturdy. The Ultra we saw has a glossy red finish, which Motorola helpfully suggested is "a lot like a sports car." The Maxx, on the other hand, has a soft-touch black finish. At any rate, we prefer the Maxx's look; as we've said about Samsung's Galaxy lineup, a glossy, plasticky finish tends to look cheaper. Both phones feature a 10-megapixel camera with a f/2.4 lens; we'll have to wait for our review units to test the shooter's mettle.

What the Ultra's design does have going for it, though, is an extra-thin profile. At 7.18mm, it's already being touted as the "thinnest 4G LTE smartphone available." At 4.94 ounces, it feels very light, and though it sports the Droid family's usual boxy form factor, the edges are gently curved to make for a nice fit in the hand. It packs a 5-inch, 720p Super AMOLED display, which, while not quite as pixel-dense as the Mini's 4.3-inch TFT panel, offers crisp images, vibrant colors and wider-than-average viewing angles. The Ultra is priced at $199, 100 bucks higher than the Mini and 100 lower than the Maxx.

Gallery: Motorola Droid Ultra hands-on

Filed under: Cellphones, Mobile, Google, Verizon

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Source: http://www.engadget.com/2013/07/23/motorola-droid-ultra-and-ultra-maxx-for-verizon-eyes-on/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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Germany's SAP to make McDermott sole CEO from 2014

FRANKFURT (Reuters) - German software maker SAP AG said co-Chief Executive Jim Hagemann Snabe would move to the company's supervisory board next May, unexpectedly leaving co-chief Bill McDermott alone at the helm.

The news, announced late on Sunday, comes after Snabe defended the company's dual leadership structure as recently as early July in a newspaper interview, and follows a management revamp only two months ago.

Snabe, 47, said he was stepping down from management after a 20-year career at SAP, including three years as co-CEO, for personal reasons and had no plans to take on a management position at another company.

Snabe and McDermott took the helm of SAP in February 2010, with contracts that were due to run until 2017.

"We have done great things since then, got through the global economic crisis and jointly with the employees and the management board made SAP a highly innovative and profitable company again," Snabe told Frankfurter Allgemeine Zeitung in an interview published on the paper's website on Monday.

In May, SAP said it was revamping its management to sharpen its focus on cloud computing as demand for the service which saves clients money grows. Also, its finance chief Werner Brandt is due to leave when his contract ends in June 2014.

"The news is a bit negative, there is a lot of reshuffling on the board," Commerzbank analyst Thomas Becker said.

Shares in SAP were down 1.3 percent to 55.00 euros by 0800 GMT (4.00 a.m. ET) on Monday, the second-biggest fall on Germany's blue-chip DAX index, which was flat.

The news comes only days after SAP trimmed its sales outlook for this year, warning a slowdown in China was prompting firms across Asia to put investments on hold.

It also shifts the focus of SAP to the United States. Snabe was based at the company's headquarters in the German town of Walldorf near Heidelberg, while McDermott's main office is at SAP's North American center in Newtown Square, Pennsylvania.

Hasso Plattner, co-founder of SAP and chairman of the supervisory board, has criticized the company's management for failing to boost SAP's popularity among young talent.

"That needs to change as quickly as possible. We have fantastic new products but are not on par with Google or Apple," he said in an interview published by German magazine Wirtschaftswoche on July 8.

In SAP's statement on Sunday, Plattner said Snabe and McDermott had exceeded his expectations for profitable growth.

"Now I can look to bring Jim's experience and energy to the SAP supervisory board, and be sure SAP is firmly in the hands of a visionary leader with Bill as sole CEO," Plattner said.

DZ Bank analyst Harald Schnitzer said he did not expect a major change to SAP's strategy as Snabe will still have some influence from his new position on the supervisory board.

SAP said the proposal for Snabe to move to the supervisory board must have the support of at least 25 percent of shareholders at the company's annual general meeting next May. (Reporting by Jonathan Gould and Maria Sheahan; Additional reporting by Natalia Drozdiak; Editing by Maureen Bavdek and Mark Potter)

Source: http://news.yahoo.com/germanys-sap-mcdermott-sole-ceo-2014-084956851.html

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China's Wu & Shi win world gold in 3-meter synchro

BARCELONA, Spain (AP) ? China's Wu Minxia and Shi Tingmao won the first diving gold medal at the world championships on Saturday, earning Wu a record sixth world title in the women's 3-meter synchronized springboard.

The pair's almost flawless execution of all five dives framed by the dramatic backdrop of Barcelona's skyline gave them the top total score of 338.40 points.

Italy's Tania Cagnotto and Francesca Dallape claimed silver with 307.80, while Canada's Pamela Ware and Jennifer Abel took bronze with 292.08.

Wu has dominated the 3-meter synchronized springboard for more than a decade, winning nine world or Olympic gold medals. The only major title to escape her was the 2005 world championship when she didn't compete in the event.

Ten years ago, Wu, then 17, won the world title here at the Municipal pool perched on the Montjuic hillside. This time she arrived with a brand new teammate in Shi, who was only named to China's team last year after being the first non-team member to win a gold medal in the 1-meter springboard at the 2011 world championships.

But their mirrored twists and turns gave the impression they had been working together for years.

"I'm really happy even though I do feel a bit old," Wu said through a translator. "I believe that since we kept working hard and communicating we succeeded. I feel like one of the leaders of the team, and I feel so good that we could do so well in our first competition."

Wu said the secret to her continued success was combining her experience with younger, hungry talent.

"I always need a new partner to come up because I am old," Wu said. "My partners need to have a high level before starting with me."

Cagnotto and Dallape, who just missed the podium in London last summer by finishing fourth, got a slim early lead on the Chinese in the first round when they both performed a forward pike.

But Wu and Shi went ahead with the next dive and effectively decided the title with an inward two-and-a-half somersault pike on their third effort. They poured it on by getting a finals-best 78.30 points with a reverse pike with two-and-a-half somersaults with a twist thrown in on their fourth try.

Maintaining an icy demeanor while diving, Shi was all smiles and acknowledged that she was still a little nervous even after the medal ceremony.

"Having Wu by my side helps me calm down and do well in the performance," Shi said. "If there is one thing I have learned from Wu it is her spirit and attitude during the competition."

Earlier, China's Li Shixin topped the preliminaries in the men's 1-meter springboard.

Li, the defending 1-meter springboard champion, led the men's qualification for Monday's final with 405 points, but a poor last dive let France's Matthieu Rosset finish only 0.5 points behind.

Li looked ready to end the preliminaries with a commanding points difference until he missed with a three-and-a-half somersault pike on the sixth and final dive and barely edged Rosset for the top spot.

Illya Kvasha of Ukraine was third in qualifying, followed by Alejandro Chavez of Mexico in fourth and Sebastian Morales of Colombia in fifth.

American Kristian Ipsen, a bronze medalist from the 2012 Olympics, failed to make the cut of the top 12 divers.

Source: http://www.timesunion.com/sports/article/China-s-Wu-Shi-win-world-gold-in-3-meter-synchro-4676745.php

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Motorola schedules Moto X launch for August 1st in NYC

So when exactly will the Moto X make its formal debut? August 1st is the date, according to a Motorola teaser announcing the launch. There's been no shortage of leaks for the new flagship smartphone, which we know will be assembled in the US and will ship to customers in a variety of colors. So far, our best look at the device has come courtesy of Eric Schmidt himself, who was showing off his own sample at the Allen and Company Conference earlier this month in Sun Valley. He declined to provide any specification details, but some attendees did sneak a peek at the handset's carbon fiber-like back and sleek curves. We'll surely be back with more, live from the August 1st launch event in New York City.

Filed under: Cellphones, Mobile, Google

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Source: Ina Fried (Twitter)

Source: http://www.engadget.com/2013/07/19/moto-x-launch/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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Motorola to show off Moto X on Aug. 1

Your gadgets

Rosa Golijan NBC News

18 hours ago

Motorola

The highly-anticipated Moto X will be shown off on Aug. 1.

Motorola will show off the highly anticipated Moto X smartphone on Aug. 1 in New York City.

Motorola has teased that the new device will be "designed by you," and so expectations are that it will be highly user-customizable. (Users might have a choice of device color or configurations, although details are still to come.) Motorola CEO Dennis Woodside has previously confirmed that the device will be assembled in the U.S. and suggested that it will indeed ship this fall.

Rumors about the Moto X have been swirling ever since Google completed its acquisition of Motorola in May 2012 (though the device was dubbed the "X Phone" for a long time.)

"Our role in inventing the mobile phone is well known," Motorola said in a press release reconfirming that the Moto X will be assembled in the U.S., specifically in Texas. "We?re happy to be shaping its future as well."

Want more tech news or interesting links? You'll get plenty of both if you keep up with Rosa Golijan, the writer of this post, by following her on Twitter, subscribing to her Facebook posts, or circling her on Google+.

Source: http://feeds.nbcnews.com/c/35002/f/663301/s/2ee84625/l/0L0Snbcnews0N0Ctechnology0Cmotorola0Eshow0Emoto0Ex0Eaug0E10E6C10A687466/story01.htm

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G20 talks focus on policy clarity, China offers olive branch

By Gernot Heller and Jan Strupczewski

MOSCOW (Reuters) - The world's economic crisis response team grappled on Friday with the prospect of more market volatility resulting from the United States, China and Japan charting a course towards recovery.

Finance ministers and central bankers from the Group of 20 nations, gathered in Moscow, were to call for greater clarity in policy 'messaging' after signals of a withdrawal of U.S. monetary stimulus caused a global sell-off in stocks and bonds, and a flight to the dollar.

G20 sources said a draft communique in the works would also urge China to encourage domestic demand-driven growth and allow greater exchange-rate flexibility as part of wider efforts to rebalance the global economy.

Beijing offered an early olive branch, announcing long-awaited interest rate reforms removing a floor on the rates banks may charge clients for loans, which in turn should reduce the cost of borrowing for companies and households.

"Global imbalances have narrowed with the crisis, but we need to continue with decisive policy action to make sure that they do not increase again when growth picks up," EU Economic and Monetary Affairs Commissioner Olli Rehn said.

The G20 also backed a fundamental tax rethink that takes aim at the loopholes used by multinational firms and responds to widespread anger among voters hit with higher tax bills to cover soaring national debts.

The forum took the lead in the 2008-09 financial crisis and now faces a multi-speed global economy in which only the United States appears to be nearing a self-sustaining recovery.

China, for years the engine of global growth, is suffering a slowdown amid doubts over the stability of its financial system, Japan has only recently embarked on a radical fiscal and monetary stimulus experiment, and Europe's economy is more stop than go.

Chairman Ben Bernanke's announcement that the Fed may start to wind down its $85 billion in monthly bond purchases sparked a panicky sell-off, particularly in emerging markets.

"There has been a kind of over-reaction of the markets," French Finance Minister Pierre Moscovici said. "So we are looking for the balance."

Investors were calmed by testimony to Congress this week by Bernanke, who is not coming to Moscow, though he said the exit plan from money-printing remained on the cards.

Clearer policy communication is "crucial for preventing serious volatility on financial markets", said Russian Finance Minister Anton Siluanov.

Negotiators working on a joint communique reconvened after a drafting session on Thursday night that sources said was less fraught than at the February G20 meeting in Moscow, when there was talk of a currency devaluation war.

Ministers will review the text over dinner.

The BRICS emerging markets caucus - Brazil, Russia, India, China and South Africa - also met on Friday. They were unlikely to progress on joint steps, such as a shared pool of forex reserves, to guard against capital flight.

JOBS COMMITMENT

The United States is beating its fiscal targets thanks to improving growth and Washington is putting increasing pressure on Europe to do more to foster growth.

Germany, in contrast, is seeking internationally agreed medium-term debt reduction goals.

G20 labor ministers held a joint session with finance ministers, putting the jobs crisis in Europe - where youth unemployment is above 50 percent in debt-strapped Greece and Spain - at the centre of the debate.

"We will maintain supportive macroeconomic environments, which are conducive to job creation, investment and business development, in order to allow the private sector to play its role as a driver of employment and growth," the ministers said in a statement afterwards.

The European Union's employment commissioner, Laszlo Andor, told Reuters investment in jobs was vital for maintaining social peace and emerging from years of austerity.

"If in the name of competitiveness and internal devaluation you just compress wages constantly, you also kill demand and you can kill the recovery," Andor said.

The G20 released a tax action plan drawn up by the Organisation for Economic Co-operation and Development (OECD) that said the existing system didn't work, especially when it came to taxing companies that trade online.

The tax plan is one of the major 'deliverables' that will go before the summit of G20 leaders being hosted by President Vladimir Putin in St Petersburg in early September.

Russia, the first big emerging nation to host the annual presidency of the G20, finds itself in an awkward political spot.

G20 delegates arriving in Moscow ran into a protest over the jailing of a prominent Russian opposition politician. Alexei Navalny, who organized protests against Putin's election for a third Kremlin term last year, was sentenced to five years in prison for theft in a case that drew international condemnation.

Navalny was released on bail on Friday pending an appeal.

"The rally and the traffic jams are causing meetings to be postponed," said one European diplomat. "But we fully understand the democratic right to protest."

(Reporting by Lidia Kelly, Maya Dyakina, Jan Strupczewski, Gernot Heller Tetsushi Kajimoto in Moscow, Anna Yukhananov in Washington, Se Young Lee in Seoul, Tom Bergin in London, Alonso Soto in Brasilia, Leigh Thomas in Paris.; Writing by Douglas Busvine/Mike Peacock)

Source: http://news.yahoo.com/g20-backs-tax-plan-seeks-chart-recovery-093006422.html

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NE Patriots to take part in iPad medical records program Like flight maps for pi...

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Israel to release 'heavyweight' Palestinian prisoners amid peace talks drive

JERUSALEM -- Israel has agreed to a long-standing Palestinian demand to release Palestinian prisoners in order to resume peace talks, but will not yield on other central issues, Strategic Affairs Minister Yuval Steinitz said on Saturday.

U.S. Secretary of State John Kerry said on Friday that Israel and the Palestinians had laid the groundwork to resume peace talks after an almost three-year stalemate, but he warned that the deal was not final and required more diplomacy.

"There will be some release of prisoners," Steinitz told Israel Radio. "I don't want to give numbers but there will be heavyweight prisoners who have been in jail for tens of years," he said. The release would be carried out in phases, he added.

But when it came to other sticking points, Steinitz said Israel would not give way.

Palestinians have long demanded that Israel free prisoners who have been held in Israeli jails since before 1993, the year the two sides signed the Oslo Accords - an interim deal that was intended to lead to an independent state the Palestinians seek in East Jerusalem, the West Bank and the Gaza Strip.

The Palestinians have said their future state must have borders approximating the boundaries of those territories before Israel captured them in a 1967 Middle East War.

Israel has balked at this demand, saying such borders would be indefensible for the Jewish state. Steinitz said there had been no Israeli concession on that point and on the Palestinian demand that Israel halt all construction in its West Bank and East Jerusalem settlements.

"There is no chance that we will agree to enter any negotiations that begins with defining territorial borders or concessions by Israel, nor a construction freeze,? he said.

Wasel Abu Youssef, a senior member of the umbrella Palestine Liberation Organization, told Reuters on Friday after Kerry's announcement that "efforts will continue to secure the achievement of Palestinian demands ... Israel must recognize the 1967 borders."

Kerry said on Friday that the deal between Israel and the Palestinians was still being "formalized" and he would therefore not discuss it in detail, but that negotiators for both sides could begin talks in Washington "within the next week or so."

Reuters

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Economy News Headlines - Yahoo! News

http://news.yahoo.com/economy/ Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.en-USCopyright (c) 2013 Yahoo! Inc. All rights reservedSat, 20 Jul 2013 17:14:56 -04005http://news.yahoo.com/economy/ http://l.yimg.com/a/i/us/nws/th/main_142c.gifTOKYO (Reuters) - Japanese Prime Minister Shinzo Abe is poised to cement his hold on power in an election on Sunday, ending six years of parliamentary deadlock with an expected big win in the upper house. Here are some key issues and dates to watch, to see whether Abe is using his mandate to keep campaign promises for economic reform. - SALES TAX: Abe's government says it will use April-June GDP data, due August 12, to help judge whether to proceed next April with the planned first phase of doubling the consumption tax to 10 percent over two years. ...http://news.yahoo.com/factbox-japan-pm-abe-scorecard-watch-election-211456897.htmlSat, 20 Jul 2013 17:14:56 -0400Reutersfactbox-japan-pm-abe-scorecard-watch-election-211456897<p><a href="http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-210648593.html"><img src="http://l1.yimg.com/bt/api/res/1.2/oWcVidMsKvPUQ0fR2Jbl0Q--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T210648Z_1_CBRE96J1MNJ00_RTROPTP_2_JAPAN.JPG" width="130" height="86" alt="Japan&#039;s PM Abe, and the leader of the ruling Liberal Democratic Party, speaks to voters atop a van during a campaigning for the July 21 Upper house election in Tokyo" align="left" title="Japan&#039;s PM Abe, and the leader of the ruling Liberal Democratic Party, speaks to voters atop a van during a campaigning for the July 21 Upper house election in Tokyo" border="0" /></a>By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe&#039;s ruling bloc looks set for a handsome upper house election win on Sunday, cementing his grip on power and setting the stage for Japan&#039;s first stable government since the charismatic Junichiro Koizumi left office in 2006. The victory would give the hawkish leader a stronger mandate for his recipe to revive the economy and spell his personal political redemption after he led his party to a defeat in a 2007 upper house election. That poll allowed the opposition to block legislation and led to Abe&#039;s resignation two months later. ...</p><br clear="all"/>http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-210648593.htmlSat, 20 Jul 2013 17:06:48 -0400Reutersjapan-pm-heads-election-victory-amid-policy-concerns-210648593<p><a href="http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-210648593.html"><img src="http://l1.yimg.com/bt/api/res/1.2/oWcVidMsKvPUQ0fR2Jbl0Q--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T210648Z_1_CBRE96J1MNJ00_RTROPTP_2_JAPAN.JPG" width="130" height="86" alt="Japan&#039;s PM Abe, and the leader of the ruling Liberal Democratic Party, speaks to voters atop a van during a campaigning for the July 21 Upper house election in Tokyo" align="left" title="Japan&#039;s PM Abe, and the leader of the ruling Liberal Democratic Party, speaks to voters atop a van during a campaigning for the July 21 Upper house election in Tokyo" border="0" /></a>By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe&#039;s ruling bloc looks set for a handsome upper house election win on Sunday, cementing his grip on power and setting the stage for Japan&#039;s first stable government since the charismatic Junichiro Koizumi left office in 2006. The victory would give the hawkish leader a stronger mandate for his recipe to revive the economy and spell his personal political redemption after he led his party to a defeat in a 2007 upper house election. That poll allowed the opposition to block legislation and led to Abe&#039;s resignation two months later. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.html"><img src="http://l.yimg.com/bt/api/res/1.2/jM2z_XEIblKGJZ6ud0HQ6g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T181038Z_1_CBRE96J1EI800_RTROPTP_2_CNEWS-US-PORTUGAL-CRISIS.JPG" width="130" height="86" alt="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" align="left" title="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" border="0" /></a>By Andrei Khalip LISBON (Reuters) - Portugal&#039;s ruling Social Democrats (PSD) said on Saturday their coalition government would press on with meeting the country&#039;s economic bailout goals after talks on a broader political deal sought by the president collapsed. Reigniting a three-week-old political crisis, the two centre-right coalition parties and main opposition Socialists broke off talks on Friday on a &quot;national salvation&quot; pact to ensure an EU/IMF bailout stays on track, leaving it to the president to decide how to proceed. ...</p><br clear="all"/>http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.htmlSat, 20 Jul 2013 14:10:38 -0400Reutersportugal-ruling-party-vows-meet-bailout-goals-pact-181038107<p><a href="http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.html"><img src="http://l.yimg.com/bt/api/res/1.2/jM2z_XEIblKGJZ6ud0HQ6g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T181038Z_1_CBRE96J1EI800_RTROPTP_2_CNEWS-US-PORTUGAL-CRISIS.JPG" width="130" height="86" alt="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" align="left" title="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" border="0" /></a>By Andrei Khalip LISBON (Reuters) - Portugal&#039;s ruling Social Democrats (PSD) said on Saturday their coalition government would press on with meeting the country&#039;s economic bailout goals after talks on a broader political deal sought by the president collapsed. Reigniting a three-week-old political crisis, the two centre-right coalition parties and main opposition Socialists broke off talks on Friday on a &quot;national salvation&quot; pact to ensure an EU/IMF bailout stays on track, leaving it to the president to decide how to proceed. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.html"><img src="http://l.yimg.com/bt/api/res/1.2/SUx3Aifih31HKHtMCjqARw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T144553Z_1_CBRE96J150L00_RTROPTP_2_CBUSINESS-US-G20-CANADA-POLOZ.JPG" width="130" height="86" alt="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>By Randall Palmer MOSCOW (Reuters) - All the talk of economic weakness during the G20 talks in Moscow does not make the Bank of Canada more inclined to keep rates low for longer than it had otherwise planned, Governor Stephen Poloz said on Saturday. Poloz also came to the defense of the U.S. Federal Reserve, stating that Chairman Ben Bernanke&#039;s description of plans eventually to taper its bond buying was carefully communicated, as asked for in Saturday&#039;s communiqu? of finance ministers and central bankers of the Group of 20 leading economies. ...</p><br clear="all"/>http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.htmlSat, 20 Jul 2013 12:16:31 -0400Reutersbocs-poloz-not-inclined-keep-rates-lower-longer-144553475<p><a href="http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.html"><img src="http://l.yimg.com/bt/api/res/1.2/SUx3Aifih31HKHtMCjqARw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T144553Z_1_CBRE96J150L00_RTROPTP_2_CBUSINESS-US-G20-CANADA-POLOZ.JPG" width="130" height="86" alt="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>By Randall Palmer MOSCOW (Reuters) - All the talk of economic weakness during the G20 talks in Moscow does not make the Bank of Canada more inclined to keep rates low for longer than it had otherwise planned, Governor Stephen Poloz said on Saturday. Poloz also came to the defense of the U.S. Federal Reserve, stating that Chairman Ben Bernanke&#039;s description of plans eventually to taper its bond buying was carefully communicated, as asked for in Saturday&#039;s communiqu? of finance ministers and central bankers of the Group of 20 leading economies. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.html"><img src="http://l2.yimg.com/bt/api/res/1.2/5nrR9JO_ogW4O4n76LvSlg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8323202f45061a18380f6a7067004932.jpg" width="130" height="86" alt="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" align="left" title="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" border="0" /></a>MOSCOW (AP) ? The Group of 20&#039;s finance ministers said Saturday their countries consider strengthening economic growth and creating jobs to be top priorities.</p><br clear="all"/>http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.htmlSat, 20 Jul 2013 11:57:17 -0400Associated Pressg20-finance-ministers-aim-more-growth-141419854<p><a href="http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.html"><img src="http://l2.yimg.com/bt/api/res/1.2/5nrR9JO_ogW4O4n76LvSlg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8323202f45061a18380f6a7067004932.jpg" width="130" height="86" alt="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" align="left" title="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" border="0" /></a>MOSCOW (AP) ? The Group of 20&#039;s finance ministers said Saturday their countries consider strengthening economic growth and creating jobs to be top priorities.</p><br clear="all"/><p><a href="http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.html"><img src="http://l2.yimg.com/bt/api/res/1.2/XcfdHyHd.YVZjbx1NABM4A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T105405Z_2_CBRE96J0J3H00_RTROPTP_2_G20-RUSSIA.JPG" width="130" height="86" alt="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" align="left" title="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" border="0" /></a>By Lidia Kelly and Jan Strupczewski MOSCOW (Reuters) - The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that &quot;remains too weak&quot; and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets. Finance ministers and central bankers signed off on a communiqu? that acknowledged the benefits of expansive policies in the United States and Japan but highlighted the recession in the euro zone and a slowdown in emerging markets. ...</p><br clear="all"/>http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.htmlSat, 20 Jul 2013 10:23:58 -0400Reutersg20-puts-growth-austerity-seeks-calm-markets-065215056<p><a href="http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.html"><img src="http://l2.yimg.com/bt/api/res/1.2/XcfdHyHd.YVZjbx1NABM4A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T105405Z_2_CBRE96J0J3H00_RTROPTP_2_G20-RUSSIA.JPG" width="130" height="86" alt="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" align="left" title="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" border="0" /></a>By Lidia Kelly and Jan Strupczewski MOSCOW (Reuters) - The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that &quot;remains too weak&quot; and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets. Finance ministers and central bankers signed off on a communiqu? that acknowledged the benefits of expansive policies in the United States and Japan but highlighted the recession in the euro zone and a slowdown in emerging markets. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.html"><img src="http://l.yimg.com/bt/api/res/1.2/IQBulQFKuXwpH6_qYlZiUA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T121137Z_1_CBRE96J0XVS00_RTROPTP_2_CNEWS-US-USA-DETROIT-CITIES-ANALYSIS.JPG" width="130" height="86" alt="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" align="left" title="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" border="0" /></a>By Tiziana Barghini NEW YORK (Reuters) - Many U.S. cities have a much better economic outlook than struggling Detroit, but the Motor City&#039;s bankruptcy filing on Thursday should still set off alarm bells elsewhere as the cost of paying retirement benefits swells. In recent decades, many municipalities have provided their workers with generous retirement benefits, both pensions and health coverage, often in lieu of pay increases. But this has created an unsustainable future burden for budgets that has only been exacerbated by the loss of real estate and other tax revenue in the financial crisis. ...</p><br clear="all"/>http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.htmlSat, 20 Jul 2013 10:03:50 -0400Reutersanalysis-detroit-filing-sends-benefits-warning-other-cities-121137056<p><a href="http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.html"><img src="http://l.yimg.com/bt/api/res/1.2/IQBulQFKuXwpH6_qYlZiUA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T121137Z_1_CBRE96J0XVS00_RTROPTP_2_CNEWS-US-USA-DETROIT-CITIES-ANALYSIS.JPG" width="130" height="86" alt="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" align="left" title="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" border="0" /></a>By Tiziana Barghini NEW YORK (Reuters) - Many U.S. cities have a much better economic outlook than struggling Detroit, but the Motor City&#039;s bankruptcy filing on Thursday should still set off alarm bells elsewhere as the cost of paying retirement benefits swells. In recent decades, many municipalities have provided their workers with generous retirement benefits, both pensions and health coverage, often in lieu of pay increases. But this has created an unsustainable future burden for budgets that has only been exacerbated by the loss of real estate and other tax revenue in the financial crisis. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.html"><img src="http://l.yimg.com/bt/api/res/1.2/akdcsUKqROHmZz3BqZeK.w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/f1894b9c26450318380f6a7067007800.jpg" width="130" height="86" alt="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" align="left" title="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" border="0" /></a>NEW YORK (AP) ? An improving outlook for the U.S. economy and signs of stabilization in Europe sent General Electric shares to their highest level since 2008 despite modest quarterly results.</p><br clear="all"/>http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.htmlFri, 19 Jul 2013 18:23:06 -0400Associated Pressge-shares-rise-post-crisis-high-us-outlook-162844693<p><a href="http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.html"><img src="http://l.yimg.com/bt/api/res/1.2/akdcsUKqROHmZz3BqZeK.w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/f1894b9c26450318380f6a7067007800.jpg" width="130" height="86" alt="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" align="left" title="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" border="0" /></a>NEW YORK (AP) ? An improving outlook for the U.S. economy and signs of stabilization in Europe sent General Electric shares to their highest level since 2008 despite modest quarterly results.</p><br clear="all"/><p><a href="http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gc9nK41EojSx3dlWkYlGoA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T214710Z_1_CBRE96I1OIP00_RTROPTP_2_CHINA-ECONOMY-JOBS.JPG" width="130" height="86" alt="A job seeker looks at a job advertisement board at a Beijing talent service centre" align="left" title="A job seeker looks at a job advertisement board at a Beijing talent service centre" border="0" /></a>By Ian Bremmer (Reuters) - Recently, it seems no developing country is safe from sudden, unexpected protests. In Brazil and Turkey, empowered middle classes pushed back against perceived governmental injustice. Protests erupted, and leaders&#039; approval ratings dropped precipitously. In Egypt, the economic picture was as ugly as the political one, and the military&#039;s ouster of President Mursi has fomented conflict and instability. China may look like a candidate for the type of protests currently sweeping the developing world. ...</p><br clear="all"/>http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.htmlFri, 19 Jul 2013 17:47:10 -0400Reuterscolumn-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919<p><a href="http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gc9nK41EojSx3dlWkYlGoA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T214710Z_1_CBRE96I1OIP00_RTROPTP_2_CHINA-ECONOMY-JOBS.JPG" width="130" height="86" alt="A job seeker looks at a job advertisement board at a Beijing talent service centre" align="left" title="A job seeker looks at a job advertisement board at a Beijing talent service centre" border="0" /></a>By Ian Bremmer (Reuters) - Recently, it seems no developing country is safe from sudden, unexpected protests. In Brazil and Turkey, empowered middle classes pushed back against perceived governmental injustice. Protests erupted, and leaders&#039; approval ratings dropped precipitously. In Egypt, the economic picture was as ugly as the political one, and the military&#039;s ouster of President Mursi has fomented conflict and instability. China may look like a candidate for the type of protests currently sweeping the developing world. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.html"><img src="http://l2.yimg.com/bt/api/res/1.2/MjW3OhH4Z6KW0uhAZeEW7g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T205117Z_2_CBRE96I1E1300_RTROPTP_2_IRAN-ELECTION.JPG" width="130" height="86" alt="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" align="left" title="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" border="0" /></a>By Justyna Pawlak BRUSSELS (Reuters) - Six world powers see a chance that Iran&#039;s relatively moderate new president, beset by sanctions and worried about unrest in the region trickling home, may be more amenable to compromise in a long-standing nuclear dispute, a senior Western diplomat said. The powers - Russia, China, France, Britain, Germany and the United States - are hoping years of economic pressure will finally force Iran to scale back its nuclear work, which they suspect aims at allowing Tehran to make bombs. ...</p><br clear="all"/>http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.htmlFri, 19 Jul 2013 16:51:17 -0400Reutersworld-powers-see-irans-rouhani-chance-nuclear-deal-180030373<p><a href="http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.html"><img src="http://l2.yimg.com/bt/api/res/1.2/MjW3OhH4Z6KW0uhAZeEW7g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T205117Z_2_CBRE96I1E1300_RTROPTP_2_IRAN-ELECTION.JPG" width="130" height="86" alt="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" align="left" title="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" border="0" /></a>By Justyna Pawlak BRUSSELS (Reuters) - Six world powers see a chance that Iran&#039;s relatively moderate new president, beset by sanctions and worried about unrest in the region trickling home, may be more amenable to compromise in a long-standing nuclear dispute, a senior Western diplomat said. The powers - Russia, China, France, Britain, Germany and the United States - are hoping years of economic pressure will finally force Iran to scale back its nuclear work, which they suspect aims at allowing Tehran to make bombs. ...</p><br clear="all"/>By Chrystia Freeland NEW YORK (Reuters) - When the financial crisis threatened to topple the global economy, my Russian friends took great delight in calling me from Moscow and sharing the bittersweet response that was making the rounds of a city that always laughs loudest when things go wrong: Everything Marx told us about communism was false, the gag went, but everything he told us about capitalism was true. In 2008, it was easy to see their point. The lopsided recovery hasn't brought much comfort, either. ...http://news.yahoo.com/retooling-capitalism-social-good-chrystia-freeland-202003345.htmlFri, 19 Jul 2013 16:20:03 -0400Reutersretooling-capitalism-social-good-chrystia-freeland-202003345<p><a href="http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.html"><img src="http://l2.yimg.com/bt/api/res/1.2/K.Gw8BWSbWxJna1pmZclqw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T185426Z_1_CBRE96I0UK800_RTROPTP_2_CZECH.JPG" width="130" height="86" alt="The logo of the GE Money Bank is seen behind a traffic light in Prague" align="left" title="The logo of the GE Money Bank is seen behind a traffic light in Prague" border="0" /></a>By Ernest Scheyder (Reuters) - General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate&#039;s shares and stoking hopes for gains in manufacturing around the world. GE&#039;s presence in most parts of the global economy, including energy, finance, manufacturing and transportation, makes it a harbinger of macroeconomic trends. &quot;Many customers have moved from the &#039;doing your homework&#039; stage toward moving pen to paper and placing orders,&quot; said Morningstar analyst Daniel Holland. ...</p><br clear="all"/>http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.htmlFri, 19 Jul 2013 15:32:37 -0400Reutersgeneral-electric-second-quarter-profit-falls-105950403<p><a href="http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.html"><img src="http://l2.yimg.com/bt/api/res/1.2/K.Gw8BWSbWxJna1pmZclqw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T185426Z_1_CBRE96I0UK800_RTROPTP_2_CZECH.JPG" width="130" height="86" alt="The logo of the GE Money Bank is seen behind a traffic light in Prague" align="left" title="The logo of the GE Money Bank is seen behind a traffic light in Prague" border="0" /></a>By Ernest Scheyder (Reuters) - General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate&#039;s shares and stoking hopes for gains in manufacturing around the world. GE&#039;s presence in most parts of the global economy, including energy, finance, manufacturing and transportation, makes it a harbinger of macroeconomic trends. &quot;Many customers have moved from the &#039;doing your homework&#039; stage toward moving pen to paper and placing orders,&quot; said Morningstar analyst Daniel Holland. ...</p><br clear="all"/>ATHENS (Reuters) - Greece's second-biggest bank, Piraeus , has launched a voluntary redundancy scheme aimed at cutting around 1,500 jobs in a drive to cut costs after taking over assets from smaller rivals, a source at the bank told Reuters on Friday. "The continuing tough economic conditions ... call for the bank to adjust its operations to the situation," the bank said in a document seen by Reuters. The document also said the voluntary redundancy scheme would be open until September 2. Piraeus, which employs about 18,000 people, declined to comment. ...http://news.yahoo.com/greeces-piraeus-bank-aims-cut-around-1-500-171813438.htmlFri, 19 Jul 2013 13:18:13 -0400Reutersgreeces-piraeus-bank-aims-cut-around-1-500-171813438<p><a href="http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.html"><img src="http://l2.yimg.com/bt/api/res/1.2/g59411wa9Ag8RiYMjgNJWQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T170100Z_1_CBRE96I1B9W00_RTROPTP_2_CNEWS-US-USA-ASIA-BIDEN.JPG" width="130" height="86" alt="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" align="left" title="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" border="0" /></a>By Roberta Rampton WASHINGTON (Reuters) - Vice President Joe Biden will press India to do more to open up trade and protect intellectual property during a trip to the Asia-Pacific region next week that will also highlight U.S. concern about aggressive Chinese navy patrols in the oil-rich South China Sea. The trip comes as Asian economies struggle to adjust to a slowdown in growth, a situation Biden said could improve if countries including India and China pursue economic reforms. ...</p><br clear="all"/>http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.htmlFri, 19 Jul 2013 13:01:00 -0400Reutersbiden-praise-benefits-rules-road-asia-visit-170100973<p><a href="http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.html"><img src="http://l2.yimg.com/bt/api/res/1.2/g59411wa9Ag8RiYMjgNJWQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T170100Z_1_CBRE96I1B9W00_RTROPTP_2_CNEWS-US-USA-ASIA-BIDEN.JPG" width="130" height="86" alt="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" align="left" title="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" border="0" /></a>By Roberta Rampton WASHINGTON (Reuters) - Vice President Joe Biden will press India to do more to open up trade and protect intellectual property during a trip to the Asia-Pacific region next week that will also highlight U.S. concern about aggressive Chinese navy patrols in the oil-rich South China Sea. The trip comes as Asian economies struggle to adjust to a slowdown in growth, a situation Biden said could improve if countries including India and China pursue economic reforms. ...</p><br clear="all"/><p><a href="http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.html"><img src="http://l3.yimg.com/bt/api/res/1.2/O4QQnO8mMef8HiVK1KpUog--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ee4dd89c24a6fb18370f6a7067001045.jpg" width="130" height="86" alt="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" align="left" title="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" border="0" /></a>DETROIT (AP) ? At the height of its industrial power, Detroit was an irrepressible engine of the American economy, offering well-paying jobs, a gateway to the middle class for generations of autoworkers and affordable vehicles that put the world on wheels.</p><br clear="all"/>http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.htmlFri, 19 Jul 2013 11:36:11 -0400Associated Presslong-suffering-detroit-finally-turns-bankruptcy-065844742<p><a href="http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.html"><img src="http://l3.yimg.com/bt/api/res/1.2/O4QQnO8mMef8HiVK1KpUog--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ee4dd89c24a6fb18370f6a7067001045.jpg" width="130" height="86" alt="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" align="left" title="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" border="0" /></a>DETROIT (AP) ? At the height of its industrial power, Detroit was an irrepressible engine of the American economy, offering well-paying jobs, a gateway to the middle class for generations of autoworkers and affordable vehicles that put the world on wheels.</p><br clear="all"/><p><a href="http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rUo8vBlcRvXRbQa2PkyKwg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T143836Z_1_CBRE96I14OI00_RTROPTP_2_ROUTETORECOVERY.JPG" width="130" height="86" alt="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" align="left" title="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" border="0" /></a>By James B. Kelleher CHICAGO (Reuters) - Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States. Whirlpool shares jumped 6.1 percent at $126.63 in early trading. ...</p><br clear="all"/>http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.htmlFri, 19 Jul 2013 10:38:36 -0400Reuterswhirlpool-profit-surges-sales-rebound-shares-jump-143230695<p><a href="http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rUo8vBlcRvXRbQa2PkyKwg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T143836Z_1_CBRE96I14OI00_RTROPTP_2_ROUTETORECOVERY.JPG" width="130" height="86" alt="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" align="left" title="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" border="0" /></a>By James B. Kelleher CHICAGO (Reuters) - Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States. Whirlpool shares jumped 6.1 percent at $126.63 in early trading. ...</p><br clear="all"/>MOSCOW (Reuters) - Following are key sections of a draft communique prepared for G20 finance ministers and central bankers meeting in Moscow, which was obtained by Reuters. 1. We the G20 Finance Ministers and Central Bank Governors, met to discuss the current global economic developments and prepare for our Leaders' summit in September. 2. Since we last met, the global outlook has somewhat weakened on account of slower growth in some large emerging market economies and the recession in the euro area. ...http://news.yahoo.com/draft-g20-finance-ministers-communique-141831630.htmlFri, 19 Jul 2013 10:18:31 -0400Reutersdraft-g20-finance-ministers-communique-141831630<p><a href="http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.html"><img src="http://l.yimg.com/bt/api/res/1.2/pwT_XqwvZ2xPLXIVqrenHw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8083d293267e0418380f6a706700d99c.jpg" width="130" height="86" alt="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" align="left" title="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" border="0" /></a>BEIJING (AP) ? China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth.</p><br clear="all"/>http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.htmlFri, 19 Jul 2013 08:58:45 -0400Associated Presschina-ends-controls-bank-lending-rates-121551027<p><a href="http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.html"><img src="http://l.yimg.com/bt/api/res/1.2/pwT_XqwvZ2xPLXIVqrenHw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8083d293267e0418380f6a706700d99c.jpg" width="130" height="86" alt="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" align="left" title="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" border="0" /></a>BEIJING (AP) ? China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth.</p><br clear="all"/><p><a href="http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.html"><img src="http://l1.yimg.com/bt/api/res/1.2/X7QCzsLGURQfoQ583R4Nbg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T124950Z_1_CBRE96I0ZN800_RTROPTP_2_GREECE.JPG" width="130" height="86" alt="Tourists take photographs at the top of the Acropolis hill in Athens" align="left" title="Tourists take photographs at the top of the Acropolis hill in Athens" border="0" /></a>By Renee Maltezou ATHENS (Reuters) - Foreign tourists are returning to Greece&#039;s sun-drenched islands and ancient temples, central bank data showed on Friday, boosting hopes that the key sector may help the crisis-hit country pull itself out of a severe economic recession. Tourism figures have clearly benefited from comparison to last year, when speculation about Greece being forced out of the euro and fears of social unrest had scared away many visitors before the peak summer holiday season. But Greece&#039;s tourist industry is taking heart from data showing a 38. ...</p><br clear="all"/>http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.htmlFri, 19 Jul 2013 08:49:50 -0400Reuterstourists-return-greeces-summer-resorts-boost-economy-124950459<p><a href="http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.html"><img src="http://l1.yimg.com/bt/api/res/1.2/X7QCzsLGURQfoQ583R4Nbg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T124950Z_1_CBRE96I0ZN800_RTROPTP_2_GREECE.JPG" width="130" height="86" alt="Tourists take photographs at the top of the Acropolis hill in Athens" align="left" title="Tourists take photographs at the top of the Acropolis hill in Athens" border="0" /></a>By Renee Maltezou ATHENS (Reuters) - Foreign tourists are returning to Greece&#039;s sun-drenched islands and ancient temples, central bank data showed on Friday, boosting hopes that the key sector may help the crisis-hit country pull itself out of a severe economic recession. Tourism figures have clearly benefited from comparison to last year, when speculation about Greece being forced out of the euro and fears of social unrest had scared away many visitors before the peak summer holiday season. But Greece&#039;s tourist industry is taking heart from data showing a 38. ...</p><br clear="all"/>Further signs of an improvement in the U.S. economy helped the price of oil to push above $108 a barrel on Friday and to the highest since March last year.http://news.yahoo.com/oil-above-108-us-data-points-faster-growth-060518046.htmlFri, 19 Jul 2013 08:13:31 -0400Associated Pressoil-above-108-us-data-points-faster-growth-060518046<p><a href="http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.html"><img src="http://l.yimg.com/bt/api/res/1.2/IqYeD_ULMJ.da6YhwS1Llg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-19T115301Z_1_AJOE96I0X0G00_RTROPTP_2_OZABS-G20-RUSSIA-JOBS-20130719.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>MOSCOW (Reuters) - Labour and finance ministers from the world&#039;s 20 biggest developing and developed economies vowed on Friday to conduct policies that will help job creation and investment by the private sector to spur global growth. The joint meeting came as Europe in particular has struggled to contain a rise in unemployment to an 11 percent rate, while the United States has recovered faster from the global economic crisis to bring jobless queues below 8 percent. ...</p><br clear="all"/>http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.htmlFri, 19 Jul 2013 07:53:01 -0400Reutersg20-labour-finance-ministers-vow-support-jobs-115301146<p><a href="http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.html"><img src="http://l.yimg.com/bt/api/res/1.2/IqYeD_ULMJ.da6YhwS1Llg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-19T115301Z_1_AJOE96I0X0G00_RTROPTP_2_OZABS-G20-RUSSIA-JOBS-20130719.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>MOSCOW (Reuters) - Labour and finance ministers from the world&#039;s 20 biggest developing and developed economies vowed on Friday to conduct policies that will help job creation and investment by the private sector to spur global growth. The joint meeting came as Europe in particular has struggled to contain a rise in unemployment to an 11 percent rate, while the United States has recovered faster from the global economic crisis to bring jobless queues below 8 percent. ...</p><br clear="all"/>By Elias Biryabarema KAMPALA (Reuters) - The Ugandan shilling inched up on Friday but was seen holding steady next week amid low demand. At 0841 GMT commercial banks quoted the currency of east Africa's third-largest economy at 2,580/2,590, stronger than Thursday's close of 2,585/2,595. "Next week I reckon with demand on the corporate side still weak and shilling supply also a bit tight we could see some further gains or range-bound trading," said David Bagambe, trader at Diamond Trust Bank. ...http://news.yahoo.com/ugandan-shilling-inches-may-level-off-next-week-112732172.htmlFri, 19 Jul 2013 07:27:32 -0400Reutersugandan-shilling-inches-may-level-off-next-week-112732172<p><a href="http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.html"><img src="http://l1.yimg.com/bt/api/res/1.2/hlDFSAStupl3WE2KQzLGOw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T103019Z_3_CBRE96I0MDL00_RTROPTP_2_G20-PREVIEW.JPG" width="130" height="86" alt="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" align="left" title="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" border="0" /></a>By Tom Bergin and Maya Dyakina LONDON/MOSCOW (Reuters) - The G20 backed a &quot;fundamental&quot; rethink of the rules on taxing multinational corporations on Friday, taking aim at loopholes used by companies such as Apple and Google to avoid billions of dollars in taxes. The group of leading economies released an action plan drawn up by the Organisation for Economic Co-operation and Development (OECD) that said the existing system didn&#039;t work, especially when it came to taxing companies that trade online. ...</p><br clear="all"/>http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.htmlFri, 19 Jul 2013 06:30:19 -0400Reutersg20-back-fundamental-reform-corporate-taxation-080251802<p><a href="http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.html"><img src="http://l1.yimg.com/bt/api/res/1.2/hlDFSAStupl3WE2KQzLGOw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T103019Z_3_CBRE96I0MDL00_RTROPTP_2_G20-PREVIEW.JPG" width="130" height="86" alt="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" align="left" title="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" border="0" /></a>By Tom Bergin and Maya Dyakina LONDON/MOSCOW (Reuters) - The G20 backed a &quot;fundamental&quot; rethink of the rules on taxing multinational corporations on Friday, taking aim at loopholes used by companies such as Apple and Google to avoid billions of dollars in taxes. The group of leading economies released an action plan drawn up by the Organisation for Economic Co-operation and Development (OECD) that said the existing system didn&#039;t work, especially when it came to taxing companies that trade online. ...</p><br clear="all"/>MANILA, Philippines (AP) ? Disappointing earnings from two U.S. technology giants sent world stock markets lower Friday while doubts about growth prospects for China and Japan offset better U.S. economic news.http://news.yahoo.com/tech-earnings-dent-world-stock-markets-091307483.htmlFri, 19 Jul 2013 05:13:07 -0400Associated Presstech-earnings-dent-world-stock-markets-091307483<p><a href="http://news.yahoo.com/vodafone-sees-no-let-european-woes-085330544.html"><img src="http://l1.yimg.com/bt/api/res/1.2/GVaP0PB5YJoqb90ovk7YaQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T085330Z_1_CBRE96I0OPI00_RTROPTP_2_CTECH-US-VODAFONE-RESULTS.JPG" width="130" height="86" alt="A woman walks past the logo of Vodafone company in Luxembourg in this picture taken on November 20, 2012. REUTERS/Francois Lenoir" align="left" title="A woman walks past the logo of Vodafone company in Luxembourg in this picture taken on November 20, 2012. REUTERS/Francois Lenoir" border="0" /></a>By Kate Holton LONDON (Reuters) - Vodafone said it did not expect any let-up in the pressures weighing on its business, as the world&#039;s second-largest mobile operator reported first-quarter results hit by regulation and recession across Europe. The British group, which has been battling regulator-ordered price cuts, economic pressures and competition throughout its European markets, said on Friday it expected the next three months to follow broadly the same trends after reporting yet another sharp drop in its key revenue measurement. ...</p><br clear="all"/>http://news.yahoo.com/vodafone-sees-no-let-european-woes-085330544.htmlFri, 19 Jul 2013 04:53:30 -0400Reutersvodafone-sees-no-let-european-woes-085330544<p><a href="http://news.yahoo.com/vodafone-sees-no-let-european-woes-085330544.html"><img src="http://l1.yimg.com/bt/api/res/1.2/GVaP0PB5YJoqb90ovk7YaQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T085330Z_1_CBRE96I0OPI00_RTROPTP_2_CTECH-US-VODAFONE-RESULTS.JPG" width="130" height="86" alt="A woman walks past the logo of Vodafone company in Luxembourg in this picture taken on November 20, 2012. REUTERS/Francois Lenoir" align="left" title="A woman walks past the logo of Vodafone company in Luxembourg in this picture taken on November 20, 2012. REUTERS/Francois Lenoir" border="0" /></a>By Kate Holton LONDON (Reuters) - Vodafone said it did not expect any let-up in the pressures weighing on its business, as the world&#039;s second-largest mobile operator reported first-quarter results hit by regulation and recession across Europe. The British group, which has been battling regulator-ordered price cuts, economic pressures and competition throughout its European markets, said on Friday it expected the next three months to follow broadly the same trends after reporting yet another sharp drop in its key revenue measurement. ...</p><br clear="all"/>

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