Tuesday, July 16, 2013

Woods drawn with McDowell, Oosthuizen at Muirfield

Tiger Woods plays a shot during a practice round ahead of the British Open Golf Championship, Muirfield, Scotland, Monday, July 15, 2013. The British Open begins on Thursday, July 18. (AP Photo/Scott Heppell)

Tiger Woods plays a shot during a practice round ahead of the British Open Golf Championship, Muirfield, Scotland, Monday, July 15, 2013. The British Open begins on Thursday, July 18. (AP Photo/Scott Heppell)

GULLANE, Scotland (AP) ? Tiger Woods is getting a late start to the British Open at Muirfield.

Woods plays the opening two rounds with former British Open champion Louis Oosthuizen and former U.S. Open champion Graeme McDowell. They tee off at 2:45 p.m. local time (9:45 a.m. EDT), with a 9:44 a.m. (4:44 a.m. EDT) start on Friday. It's the first time Woods has been drawn with either of them on a weekday of a major.

Woods is the betting favorite to end his five-year drought in the majors.

Rory McIlroy plays with Scottish Open winner Phil Mickelson, along with Hideki Matsuyama of Japan.

Nick Faldo, returning to Muirfield one last time, is in a group with five-time Open champion Tom Watson and Fred Couples.

U.S. Open champion Justin Rose plays with defending champion Ernie Els and Brandt Snedeker.

Associated Press

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Central Bank of India to Hold Board Meeting

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Obama: Martin's death a tragedy, asks nation to respect call for calm (CNN)

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Monday, July 15, 2013

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Financing India?s Small Hydro Capacity

India's scope for hydropower development is vast. Close to 150 GW of theoretical potential exists in the country today, with an estimated 84 GW of economically exploitable capacity, according to figures from the Central Electricity Authority (CEA). Simultaneously, there is a large population of rural poor with no access to grid electricity, an existing peak load deficit estimate at around 10 percent and a rapidly growing economy ? and with it an associated increase in power demand.

This article can be found in our completely redesigned Renewable Energy World digital magazine. Subscribe here to recieve a free copy.

Indeed, India's economy reportedly grew at its slowest pace in a decade during the 2012-2013 financial year, but still clocked up a 5 percent growth rate over the year. Prime Minister Manmohan Singh reportedly expressed confidence that the country's economy would bounce back to an "8 percent growth rate."

CEA projects electricity demand to increase by around 40 percent by 2016-2017 and just about double by 2021-2022.?

However, there are a number of structural issues that impact on the country's ability to develop large capital-intensive projects like large-scale hydropower and as a result a good deal of attention has been focused on the development of small hydropower capacity, deemed projects with a nameplate output of 25 MW or less.

Authorities report that there is significant potential for hydropower development on this scale. Figures from the responsible agency, the Ministry of New and Renewable Energy (MNRE), estimate the potential for power generation in the country from such plants at over 15 GW.

Recognizing that small hydropower projects can play a critical role in improving the overall energy scenario of the country and in particular for remote and inaccessible areas, the Ministry aims to harness at least half of the potential in the country over the next decade to bring the installed capacity of small hydro to about 7 GW by the end of 12th Plan in 2017. In August 2012, the Minister of New and Renewable Energy, Dr. Farooq Abdullah, said that during the 11th Plan, a capacity of 1,419 MW of small hydro was added compared to 536 MW during the 10th Plan.

Some 967 small hydro projects with an aggregate capacity of 3,632 MW have been installed in India to the end of April 2013, with 24 states announcing a policy to invite private sector bodies to set up projects. In addition, 281 small hydro projects with an aggregate capacity of 1,061 MW are also under construction in various states.

MNRE said it is providing Central Financial Assistance to set up small/micro hydro projects both in the public and private sectors while financial support is also given to the state governments for the identification of new potential sites, including surveys and the preparation of detailed project reports, and renovation and modernization of old projects. In 2012-2013 some Rs.1.6 billion [US $28 million] of funding was released under the Small Hydro Power (SHP) Program.

Driving Private Investment

Given the vast potential and obvious drivers for demand, why has India been so hesitant when it comes to execution? While some would point to the strength of country's coal lobby, a more pertinent point is the key to all energy development: economics.

Shedding light on this theme, the recent HydroVision India Conference and Exhibition heard from Anchit Gupta, director of business development at Focal Energy, a global investment group specializing in small hydro and solar installations with more than 300 MW of projects in its pipeline. Gupta said the company is primarily looking at a steady cash flow from income generating assets.

When considering investing in a hydropower development, Gupta explained that a good partner with honesty and integrity is the most important element, together with projections and adequate contingencies within the project plan.

However, the cost of debt and the interest rate on capital is a major influence, and Gupta said that even though the company is an equity investor, it maintains focus on capital rates rather than equity returns. This, he says, is the most pressing issue for renewable energy and infrastructure development in India.

"With a larger operating portfolio we can go out and get much cheaper debt, but until then the focus is on projects which are profitable with adequate cash flow, considering the risks involved," he explained.

He presented a typical example of a project deal with a debt-to-equity ratio of 70:30, a typical interest rate of 14 percent and a repayment period of eight years. In this case "around 22 percent of total project cost in the first year is outflow to service debt. Most projects are not generating that kind of cash flow in the first few years," he said. "That is one of the most pressing issues for renewable energy in India."

He added that a realistic assessment of revenue is critical. "One of the challenges [is that] projects are more often than not over-advertised with under-estimation of revenue project costs and over-estimations of energy production potential. We have a benchmark for a 30 percent haircut and so far we been spot on. You could say that Indian developers are consistently inconsistent in over-estimating generation potential."

Valuing Projects

Aside from the cost of debt, Gupta also points out that project valuations can be an issue in the small hydropower sector. "The other challenge we face is the valuation expectations by developers. They expect they're going to get the same valuations as projects they may hear about in the market," he said. Focal Energy, he added, "focuses on a very thorough and aggressive due diligence process. For example, developers may say, 'the tariff is going to be increased in two months' ??well, we can wait for two months and see what happens. Whatever is there and can be supported is what we rely on."

Giving further insights into the company's due-diligence process, Gupta explained that they keep an eye on projects that they didn't invest in "to give us a benchmark for evaluating the opportunity we have come across," he said. "We also know that there are enough projects available for us to invest in, and if we walk away we don't sweat it."

Gupta explained how to create a win-win situation in developing small hydropower. "We do spend a lot of time on the ground in order to fully understand the developer and local issues," he said, adding that key issues are a strict adherence to budgets and timelines, reliable cash flow and accurate project valuations. He also addressed the changing nature of small hydro developers, saying that there are very good and hard-working entrepreneurs in India who are prepared to stand behind agreements no matter what, but there is a need to overcome the family business approach, accepting that experts can come in and that standards need to change with a different perception of the risks involved, which comes from experience.

"Most [developers] plan so that everything is going to be perfect, but we say 'not everything will be perfect you need to plan for contingencies,'" Gupta said. "Working with a long-term partner some say, 'initially it was very hard for us, but now we see the value on this approach.'"

In terms of attracting foreign investment to small hydropower projects in India, Gupta said that a fundamental issue is the regulatory environment that "keeps changing from time to time." But he also said that there are potentially big gains for companies who can take the risk. "There is a big need for foreign capital looking for credible income generating assets. And there are huge capital needs for infrastructure projects in India; I believe there is the groundwork for creating win-wins."

Lead image:?The confluence of the Alaknanda River and Bhagirathi River in Uttarakhand, India via Shutterstock

Source: http://www.renewableenergyworld.com/rea/news/article/2013/07/financing-indias-small-hydro-capacity?cmpid=rss

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The RoundUp Indian Scientists Use Neem Protein to Fight Cancer

Latest researches has changed the medical field, through treatment, prevention and diagnosis. Every Friday we look at how these latest scientific studies and researches and decode them. This week the studies are based on cancer, skin care problems and heart health, which can affect anyone.

*Images courtesy: ? Thinkstock photos/ Getty Images

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Washington's newest power couple: Max and Dave

ST. PAUL, Minn. (AP) ? Welcome to the "Max and Dave Show," a campaign-style swing around the country featuring two of the most powerful members of Congress rallying support for their effort to overhaul the nation's tax laws ? and, just maybe, change the way Washington works.

Sen. Max Baucus, a Democrat from Montana, and Rep. Dave Camp, a Republican from Michigan, are Washington's newest power couple ? and an odd one during these politically deadlocked days in Washington. They are lawmakers of different states, different parties and they're a decade in age apart. Yet, Camp and Baucus are developing a close friendship as they try to rally other lawmakers to their cause.

Their secret: Burgers, beer and a culture of working toward public policy answers that Americans seem to want in Washington ? even when there's no solution in sight.

"Dave's my buddy," Baucus told a gathering of workers at 3M, the Minnesota-based maker of everything from Scotch tape to electronic touch screens. "My comrade."

These days, you don't often hear Democrats talk that way about Republicans, or see campaign-style events for a topic as dry as tax reform. But the pair have a common goal for an overhaul they believe is long overdue. And tax policy, to them, is exciting for all that is wrong and could be improved about it. So beginning last week in Minnesota, Baucus and Camp began barnstorming the country, employing a similar burgers-and-beer strategy that's worked for them with colleagues in Washington.

"You have to have some basis to deal with each other to work together," Camp said in an interview. "What we're trying to do is create that foundation so that we are going to be able to work together on a very important bill that could have profound beneficial effects for the country."

At issue is a tax system that many inside and outside of Congress say is too complicated for individuals and too onerous for businesses. The broad goal of tax reform is to simplify the code by eliminating or reducing tax breaks and using the additional revenue to lower tax rates for everyone.

Lawmakers in both political parties are convinced that simpler, easier-to-understand tax laws would spur economic activity. One problem is that many of the biggest tax breaks, including those for owning a home or contributing to retirement plans, are very popular.

And there are significant differences among Democrats and Republicans over how much tax revenue the government should raise and who should pay it. Democrats generally want reform to generate more revenue; most Republicans in Congress are opposed to raising taxes.

Camp and Baucus also are working in a toxic partisan environment in Washington that makes it difficult for Congress to pass routine legislation, let alone a monumental package like tax reform.

"I don't see how we get anywhere, candidly," said Senate Republican leader Mitch McConnell, who is up for re-election in Kentucky next year.

Senate Majority Leader Harry Reid wasn't much more optimistic. "We're a long way from getting something on paper as to what we're going to go forward on," Reid said.

Still, Baucus and Camp are pressing forward.

Camp, 60, grew up in Midland, Mich., and was first elected to the House in 1990. A close ally of House Speaker John Boehner, R-Ohio, Camp chairs the House Ways and Means Committee, which has authority over tax laws.

Its Senate counterpart is the Finance Committee, chaired by the 71-year-old Baucus. For him, it's legacy time. Baucus grew up on a ranch near Helena, Mont., was elected to the Senate in 1978 and has become an independent voice generally more conservative than many of his Democratic colleagues. He's announced plans to retire next year, and tax reform would be his swan song.

Face time is key to the effort in Washington and beyond.

The Montana senator says he is on track to meet individually with every member of the Senate by the end of the month. Camp is trying to forge bipartisan relationships on the Ways and Means Committee by pairing small groups of Republicans and Democrats to develop options for addressing different parts of the tax law.

Every few weeks, Baucus and Camp invite about a dozen lawmakers to lunch at a Capitol Hill pub, always a mix of Democrats and Republicans, senators and House members.

Camp and Baucus have dubbed their lunches "burgers and beer," and the location ? a pub called Kelly's Irish Times ? has historic significance. Former Sen. Bob Packwood, R-Ore., is credited with helping to rescue the 1986 tax reform package with a plan he devised over two pitchers of beer at the pub. At the time, Packwood was chairman of the Senate Finance Committee, a position now held by Baucus.

"Part of it is, we've been so polarized in this town, this Congress for so many years, many of us don't know each other," Baucus said. "A burger and beers makes a lot more sense to me than a fancy dinner."

Camp and Baucus have held two lunches so far. The latest was Tuesday, and Rep. Lynn Jenkins, R-Kansas, was there. She said Camp and Baucus are setting a good example for other lawmakers.

"There was a time when members of Congress moved their families to Washington, and they got to know each other. Their kids went to school together, they went to church together, they socialized together," Jenkins said. "We don't do that anymore. Our constituents demand that we be in church with them on Sunday."

Rep. John Larson, D-Conn., was at the lunch, too.

"It's when preparation meets opportunity that something can happen, and that preparation just happens to coincide with knowing your colleagues," Larson said. "And knowing them not like, 'Hey, let's go out and have a beer.' I'm talking about knowing them in terms of going through what the issues are."

Camp says he is committed to passing a tax reform bill out of the Ways and Means Committee by the end of the year. There is no guarantee the full House would vote on a bill. But Boehner has signaled his support for the effort by reserving the prestigious bill number HR 1 for a tax overhaul measure.

In the Senate, Baucus is teaming with Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee, to write a new tax code, almost from scratch. Instead of trying to figure out which tax breaks to scrap, Baucus and Hatch are starting with a blank slate and inviting other senators to make the case for restoring various deductions, credits and exemptions.

In a question-and-answer session with 3M workers, Fred Palensky, the company's chief technology officer, hit on a theme that Baucus and Camp will have to deal with.

Palensky said he has met with members of Congress in the past and, on an individual basis, they seem like reasonable, sensible people. What happens to them when they get together back in Washington? Palensky asked Camp and Baucus.

"We're trying to break, frankly, the Washington method of operation," Baucus said. "Most people in the country want us to work together. Not the Washington way, which is gridlock, but the American way, which is work together and get things done."

___

Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap

Source: http://news.yahoo.com/washingtons-newest-power-couple-max-dave-090608902.html

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Sunday, July 14, 2013

Moto X's Open Mic demoed, enables voice command when screen is off (video)

Moto X's Open Mic demoed, enables voice command when screen is off

Just when we're getting bored of all these static Moto X leaks, a couple of new video clips popped up to finally show off some of the software goodies. The first one appears to be a leaked Rogers promotional video (embedded after the break), in which a nice lady introduces us to a new Google Now voice command feature, which can be toggled with a custom phrase even when the screen is off. According to another clip uploaded by kronikbudz, said feature is called Open Mic, but there's no indication as to whether this will be exclusive to Motorola devices or whether it'll come with the next Android release.

The Rogers video adds that the Moto X will provide ambient "active updates" notifications on the screen when the phone is locked, and this is pitched as a more sensible replacement for the meaningless blinking light. Later on, the same lady demonstrates how one can activate the phone's camera -- even when locked -- by simply twisting the wrist twice. We're a bit worried that this may allow accidental activations, unless the phone can detect whether it is inside a pocket or bag.

Finally, the lady says the Moto X will be "exclusively" heading to Rogers this August in either black or white, thus confirming the "late Summer" window that we were previously told. Enjoy your very own exclusivity while it lasts, Mr. Schmidt!

[Thanks to everyone who sent this in]

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IEA: Risks Could Pare Oil-Supply Gains

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Saturday, July 13, 2013

Another state bans Google Glass from casinos

google glass

July 12, 2013 at 4:58 PM ET

Google co-founder Sergey Brin, left, wears Google Glass glasses at an announcement for the Breakthrough Prize in Life Sciences at Genentech Hall on UC...

Jeff Chiu / AP file

Google co-founder Sergey Brin, left, wears Google Glass glasses, at a February event.

Delaware has joined several other states in banning Google Glass at its casinos.

The Delaware State Lottery announced on Friday that it was banning Google Glass and similar devices from the state's three casinos.

The agency said any patron wearing Google Glass or similar devices must remove them or be subject to eviction.

Google Glass, developed by Google, is the tiny eyeglasses-mounted device capable of shooting photos, filming video and surfing the Internet.

? 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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eBay Debuts 3D Printing iPhone App

Ebayprinting3d
for MIT Technology Review Mit-technology-review-10b46dc0fb

EBay dips its toes into the 3D-printing pool with an iPhone app that lets users customize accessories.

EBay announced Friday that it is getting into 3D printing with a new iPhone app called eBay Exact that lets users customize jewelry and accessories that will then be 3D printed and sent to them. Functionally, it's not mind-blowing, yet it shows just how far 3D printing has come in the past few years and gives a hint of where it could go next

The app is pretty simple: Once you open it up, you see several items from 3D printing companies MakerBot, Sculpteo and Hot Pop Factory: mostly jewelry and iPhone cases, plus a few other items. You pick an item (I chose the Platonix necklace, available through Hot Pop Factory), and then modify a few features like the pattern, material, shape or color. (Some items can't actually be modified at all.)

Ebay-Printing

Available items are mostly made from plastic and metal. Users pay via eBay-owned payment service PayPal, and the purchase arrives within a week or two.

Since eBay already offers a number of popular and trusted apps, consumers may be more likely to find out about this one than other 3D offerings. They may be more willing to try it, too. Eventually, I could imagine 3D printing becoming a part of eBay's core business, with sellers of accessory products in particular (like smartphone cases) offering a slew of customizable options.

Mashable composite. Images courtesy of eBay

This article originally published at MIT Technology Review here

Topics: 3D printing, Apps and Software, ebay, Home, iPhone Apps, Mobile, Tech

MIT Technology Review is a Mashable publishing partner that identifies emerging technologies and analyzes their impact for technology and business leaders. This article is reprinted with the publisher's permission.

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Halting aid to Egypt over military 'coup' would hurt US interests

Some in Congress want to call the military takeover in Egypt a coup and cut off the $1.5 billion aid the US gives the country annually. This position fails to appreciate the limits of the leverage Washington derives from its aid to Cairo and the potential consequences of halting it.?

By Jeffrey Martini,?Op-ed contributor / July 11, 2013

Female members of the Muslim Brotherhood and supporters of deposed Egyptian President Mohamed Morsi rally at the Rabaa Adawiya square in Cairo, July 11. Op-ed contributor Jeffrey Martini writes: 'Those that advocate for suspending' US aid to Egypt miss 'the broader strategic picture....Like it or not, Washington and Cairo need one another.'

Amr Abdallah Dalsh/Reuters

Enlarge

When Egyptians took to the streets demanding the ouster of President Morsi, the Egyptian military could have intervened with a scalpel. Instead it used a hammer. Less than a week into the intervention, the military has deposed the president, taken senior members of the Muslim Brotherhood into custody, suspended the constitution, dissolved the upper house of parliament, taken control of the country?s flag ship newspaper, intimidated independent media, and escalated violence against pro-Morsi demonstrators.

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Thus far the US administration has assiduously avoided the term ?coup? to describe the military?s actions. This is a conscious effort to avoid tripping the legal requirement that the US suspend aid to countries where the military has overthrown democratically elected governments. Not surprisingly, many disagree with the administration?s approach. Critics advocate for acknowledging that what occurred in Egypt is a coup and shutting off the more than $1.5 billion that Egypt receives annually from the US government.

Unfortunately, this position fails to appreciate the limits of the leverage Washington derives from its aid to Cairo and the potential consequences of halting it.

The United States has provided several streams of aid to Egypt over the past three decades. The largest stream is the $1.3 billion in Foreign Military Financing that is given to Cairo annually to acquire fighter jets, tanks, helicopters, and the spare parts and maintenance each piece of equipment requires.

A second smaller stream is the so-called Economic Support Funds, which since the 2011 Revolution, have been allocated to pay down Egypt?s more than $2.5 billion in debt to the US. In other words, those funds are delivered in the form of a self-addressed check ? a form of debt forgiveness that the US can use as a kind of ?carrot.? Giving money to Egypt to pay down its US debt in this form allows the US to hold Egypt to International Monetary Fund conditions that would put its economy on a more stable path.

And finally there are smaller pots of money the United States allocates for democracy promotion, professional military education, and other programs.

Egypt is currently the fifth largest recipient of US assistance worldwide. This leads many policymakers to assume it is a great source of leverage for the US to influence the Egyptian government?s decisionmaking. This view overstates what the US can accomplish by threatening to withhold aid. For starters,?US aid to Egypt pales relative to the $12 billion in aid the Arab Gulf states of Saudi Arabia, the United Arab Emirates, and Kuwait have pledged to Cairo over the past few days.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/th-GuVfxPCw/Halting-aid-to-Egypt-over-military-coup-would-hurt-US-interests

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Friday, July 12, 2013

Record-breaker for stocks sparked by upbeat Fed comments

stocks

16 hours ago

Traders work on the floor of the New York Stock Exchange at the end of the trading day Thursday. The Dow Jones Industrial Average closed at record hig...

Andrew Burton / Getty Images

Traders work on the floor of the New York Stock Exchange at the end of the trading day Thursday. The Dow Jones Industrial Average closed at record high today, up 169.26 points to close at 15,460.92.

It was a record-breaking day on Wall Street on Thursday.

Not only did the Dow and S&P 500 crash through their previous record highs, but the technology-heavy Nasdaq closed at its highest level in 13 years when the dot-com bubble was bursting.

The Nasdaq had its best day in three months, jumping 57.55 points, or 1.63 percent and closing at its highest level -- 3,578.30 -- since Sept. 29, 2000. That was when the dot-com bubble was bursting after a speculative period from 1997 when stock markets saw their equity value rise rapidly from growth in the Internet sector and related fields.

Thursday's big surge upwards came less than a day after Fed Chairman Ben Bernanke said the Fed would keep its foot on the stimulus gas pedal for some time, even if the unemployment rate hit the Fed's target of 6.5 percent.

His remarks were bolstered by the minutes from the Fed's latest policy meeting, which showed that policymakers wanted further reassurances about the strength of the jobs market before pulling back on stimulus measures.

(Read More: Will Investors Finally Buy Bernanke's Explanation)

Uncertainty over the Fed's direction had caused concern in the markets for weeks, but on Thursday Bernanke's words seemed to remove any doubt and investors went wild.

Thursday also saw the Dow Jones Industrial Average shoot up 169.26 points, or 1.11 percent, to close at a new all-time high of 15460.92. All 30 Dow components finished higher, led by Intel and Microsoft. The blue-chip index's point gain for 2013 is already greater than any year on record.

The S&P 500 soared 22.40 points, or 1.36 percent, to finish at 1,675.02, logging its sixth-consecutive rally and also setting a new closing high. The index is now on pace for its biggest weekly gain since January.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slid near 14.

"While you cannot guarantee that short-covering is taking place, this looks, smells and feels like a huge short-covering," said Art Cashin, director of floor operations at UBS Financial Services. "Next week, we have the equivalent of what used to be the Humphrey-Hawkins testimony so we could get a lot of volatility again."

On a day for records:

  • The Dow and S&P 500 had their best day in one month
  • The S&P 500 has its first 6-day winning streak in almost two years
  • This was the second highest number of advancing stocks at the New York Stock Exchange this year (2,203 stocks rose at the NYSE?the most since the first trading day of the year on Jan. 2)
  • All 10 S&P 500 sectors ended the day up, and 8 of 10 sectors closed up over 1 percent.
  • All 30 Dow stocks, 90 percent of the S&P 500, and 94 percent of the Nasdaq 100 closed up.

(Read More: What Did Ben Say? Playing the Fed Word Game)

The dollar dropped broadly against a basket of currencies, with its index falling to $82.418, its lowest since June 25 and down around 2.8 percent from the three-year high of $84.753. Meanwhile, Treasury prices gained after the government auctioned $13 billion in 30-year bonds at a high yield of 3.660 percent. The bid-to-cover ratio, an indicator of demand, was 2.26, versus the recent average of 2.59.

On the economic front, weekly jobless claims rose by 16,000 last week to a seasonally adjusted 360,000, according to the Labor Department, above expectations for a reading of 340,000. The four-week moving average of new claims increased by a more modest 6,000 to 351,750.

Meanwhile, import and export prices declined for the fourth-straight month in June, according to the Labor Department.

Gasoline prices are forecast to jump between 10 and 20 cents per gallon within the next few days, driven by rising oil prices and peak driving season. Oil prices have risen in recent weeks on geopolitical concerns, along with declining inventories.

In Asia, the Shanghai Composite rose above the key 2,000 level for a second straight session on hopes that Wednesday's dismal trade data will lead the Chinese central bank to ease monetary policy in an effort to boost growth.

(Poll: Will China Experience a 'Hard Landing' in 2013?)

Meanwhile, the yen strengthened further against the dollar on Thursday after the Bank of Japan held its monetary policy steady, but upgraded the country's economic outlook.

More business news:

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Google Marketing Budget For Moto X - Business Insider

Google is willing to spend up to $500 million in marketing costs to promote Motorola's upcoming flagship smartphone, the Moto X, according to The Wall Street Journal.

Motorola has been teasing the Moto X over the last few months, but the phone won't launch until October, its CEO Dennis Woodside has said.

But we already know a bit about its key features, including the option to customize colors and engravings.

The WSJ report has some more details on the Moto X. It says the phone will be available on all four major US carriers ? Verizon, AT&T, Sprint, and T-Mobile ? and will have very limited software modifications and preinstalled apps.

The phone is also said to be a top-tier device, similar to the iPhone 5, Samsung Galaxy S4, or HTC One.

Source: http://www.businessinsider.com/google-marketing-budget-for-moto-x-2013-7

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The libertarian war over the Civil War (Washington Post)

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Thursday, July 11, 2013

Italy downgraded by S&P in 'backward-looking' move

LONDON (ShareCast) - Standard & Poor's (S&P) cut Italy's rating one notch to "BBB" from "BBB+" in a move UniCredit (Milan: UCG.MI - news) calls "rather backward-looking".

S&P took the rating action on Tuesday explaining that it reflects "the effects of further weakening growth on Italy's economic structure and resilience, and its impaired monetary transmission mechanism".

The outlook remains negative implying that the credit agency believes there is "at least a one-in-three chance that the rating could be lowered again in 2013 or 2014".

UniCredit criticized the decision in a fixed income report published on Wednesday. "The reasons for the downgrade seem to be rather backward-looking," these experts said. "The timing of the decision comes as a surprise, with no clear trigger, especially considering the recent data releases supporting the view that we might see the end of the recession before year-end," they added.

After this downgrade, Italy's rating remains two notches above non-investment grade and, in comparison, one notch above neighboring peripheral country Spain.

JM

Source: http://news.yahoo.com/italy-downgraded-p-backward-looking-092700988.html

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Buyers against move to unmanaged travel | Buying Business Travel

The overwhelming majority of travel buyers are against the idea of allowing unmanaged travel within their companies, according to research by Carlson Wagonlit Travel.

The study found that only 9 per cent of buyers were in favour of unmanaged travel, which allows travellers to book through any channel they wish to use, with 62 per cent against the concept.

The report also revealed that 87 per cent of buyers said that their companies had not tried using unmanaged travel and had no plans to do so.

Those few buyers who plan to introduce some elements of unmanaged travel, or have already done so, said that their main motive for the change was to increase the satisfaction of travellers.

The TMC produced the report, entitled "Where now for managed travel?", after surveying 149 travel buyers, as well as conducting an online survey of 469 travellers and travel arrangers from five companies.

The CWT report makes the case that fully-managed travel programmes were now ?more user-friendly, cheaper and represent a more effective way to tackle programme leakage?.

It also revealed data, based on three independent studies, showing that bookings through TMCs were between 9 and 24 per cent lower than fares available on the open market.

David Moran, CWT?s executive vice president for enterprise strategy and marketing, said: ?We do expect to see consumer trends continuing to influence corporate traveller behaviour and expectations, with a clear emphasis on increasing traveller choice.

?However, recent feedback from our customers has shown that while this migration towards increased choice is steadily taking place, today?s solutions are not yet robust enough to allow them to relax their booking channel policies.?

To read the CWT report, click here

?

Source: http://buyingbusinesstravel.com/news/1021067-buyers-against-move-unmanaged-travel

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Wednesday, July 10, 2013

[video] Investing in post-Morsi Egypt | beyondbrics - Blogs - FT.com

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Source: http://blogs.ft.com/beyond-brics/2013/07/09/video-investing-in-post-morsi-egypt/

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Death toll in Quebec oil train derailment reaches 13, will likely rise

Searchers dig through the rubble for victims in Lac-Megantic, Quebec, Monday, July 8, 2013, after a train derailed, igniting tanker cars carrying crude oil early Saturday. Searchers dig through the rubble for victims in Lac-Megantic, Quebec, Monday, July 8, 2013, after a train derailed, igniting tanker cars carrying crude oil early Saturday.

LAC-MEGANTIC, Quebec ? Traumatized survivors of an oil train derailment that wiped out the heart of a small town braced for more bad news as inspectors were finally cleared to enter the charred site?s epicenter and look for remains late Monday, more than two days after the disaster that killed at least 13 people. A total of 50 were missing and the death toll was sure to rise.

Quebec provincial police Sgt. Benoit Richard said eight more bodies had been found in the wreckage after firefighters doused the flames and cooled down some of the oil tankers that were in danger of exploding. Five bodies were found over the weekend, and police would not say where the newly discovered ones were, for fear of upsetting families.

All but one of the train?s 73 tanker cars were carrying oil when they came loose early Saturday, sped downhill nearly seven miles (11 kilometers) into the town of Lac-Megantic, near the Maine border, and derailed. At least five of the cars exploded.

Maude Verrault, a waitress at downtown?s Musi-Cafe, was outside smoking when she spotted the blazing train barreling toward her.

?I?ve never seen a train moving so fast in my life, and I saw flames ... Then someone screamed ?the train is going to derail!? and that?s when I ran,? Verrault said. She said she felt the heat scorch her back as she ran from the explosion, but was too terrified to look back.

The rail tankers involved in the derailment are known as DOT-111 and have a history of puncturing during accidents, the lead Transportation Safety Board investigator told The Associated Press in a telephone interview late Monday.

TSB investigator Donald Ross said Canada?s TSB has gone on record saying that it would like to see improvements on these tankers, though he acknowledged it?s too early to say whether a different or modified tanker would have avoided this weekend?s tragedy.

The DOT-111 is a staple of the American freight rail fleet. But its flaws have been noted as far back as a 1991 safety study. Among other things, its steel shell is too thin to resist puncture in accidents, which almost guarantees the car will tear open in an accident, potentially spilling cargo that could catch fire, explode or contaminate the environment.

?It?s too early to tell. There?s a lot of factors involved,? Ross said. ?There?s a lot of energy here. The train came down on a fairly significant grade for 6.8 miles (10.9 kilometers) before it came into the town and did all the destruction it did.? He said the train was moving at 63 mph (101 kph) when it derailed.

The Saturday blasts destroyed about 30 buildings, including a public library and Musi-Cafe, a popular bar that was filled with revelers, and forced about a third of the town?s 6000 residents from their homes. Much of the area where the bar once stood was burned to the ground. Burned-out car frames dotted the landscape.

The derailment raised questions about the safety of Canada?s growing practice of transporting oil by train, and was sure to bolster arguments that a proposed oil pipeline running from Canada across the U.S. ? one that Canadian officials badly want ? would be safer.

Raymond Lafontaine, whose son and two daughters-in-law were among the missing, said he was angry with what appeared to be lack of safety regulations.

?We always wait until there?s a big accident to change things,? he said. ?Well, today we?ve had a big accident, it?s one of the biggest ever in Canada.?

The fires sparked by the exploding tanks burned for two days, impeding investigators from reaching some of the ?hot spots,? including the area near the destroyed Musi-Cafe.

?It?s a zone that we?ve started to work on and we?ll work on it more in the hours to come,? Richard said.

The area remained part of a criminal investigation and investigators were exploring all options, including the possibility that someone intentionally tampered with the train, Richard said.

Canadian Transport Minister Denis Lebel said the train was inspected the day before the accident in Montreal and no deficiencies were found. Lebel defended his government against criticisms it had cut back on rail safety measures. He said the rail remains a safe way to transport goods the vast majority of the time.

Earlier Monday, Queen Elizabeth II expressed deep sadness over the disaster, saying in a message through the federal government that the loss of life ?has shocked us all.? Canadian Prime Minister Stephen Harper toured the town Sunday and compared it to a war zone.

The train?s owners said they believed brake failure was to blame. ?Somehow those brakes were released, and that?s what is going to be investigated,? Joe McGonigle, Montreal, Maine & Atlantic Railway?s vice president of marketing, told The Associated Press on Sunday.

Officials were also looking at a locomotive blaze on the same train a few hours before the derailment. Ross also said the locomotive?s black box has been recovered, and investigators were looking into whether the air brakes or the hand break malfunctioned.

Meanwhile, crews were working to contain 100,000 liters (27,000 gallons) of light crude that spilled from the tankers and made its way into nearby waterways. There were fears it could flow into the St. Lawrence River all the way to Quebec City.

Quebec?s Environment Ministry Spokesman Eric Cardinal said officials remained hopeful they could contain more than 85 per cent of the spill.

Local fire chief Denis Lauzon said firefighters in a nearby community were called to a locomotive blaze on the same train a few hours before the derailment. Lauzon said he could not provide additional details about that fire since it was in another jurisdiction. McGonigle confirmed that a fire was reported after the first engineer secured the train and went to a local hotel.

?We know that one of our employees from our engineering department showed up at the same time to assist the fire department. Exactly what they did is being investigated so the engineer wasn?t the last man to touch that train, we know that, but we?re not sure what happened,? McGonigle said.

McGonigle said there was no reason to suspect any criminal or terror-related activity.

The growing number of trains transporting crude oil in Canada and the United States had raised concerns of a major disaster. Harper, who has been pushing the Obama administration to approve the controversial Keystone XL oil pipeline from Canada to the U.S. Gulf Coast, has said railroad transit is more ?environmentally challenging? than pipelines.

The train?s oil was being transported from North Dakota?s Bakken oil region to a refinery in New Brunswick on Canada?s East Coast. Because of limited pipeline capacity in the Bakken region and in Canada, oil producers are increasingly using railroads to transport oil to refineries.

The Canadian Railway Association recently estimated that as many as 140,000 carloads of crude oil will be shipped on Canada?s tracks this year ? up from 500 carloads in 2009. The Quebec disaster is the fourth freight train accident in Canada under investigation involving crude oil shipments since the beginning of the year.

Wayde Schafer, a North Dakota spokesman for the Sierra Club, has predicted such a catastrophe ever since crude began leaving the North Dakota by rail in 2008.

?I think anybody could have foreseen this,? said Schafer. ?It seemed like a disaster waiting to happen and it happened.?

Source: http://www.timesfreepress.com/news/2013/jul/09/death-toll-quebec-oil-train-derailment-reaches-13-/

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Fernie Ford receives President?s Award

Loretta and Jim Johnson with their staff at Fernie Ford Sales Ltd. were awarded the 2012 President?s award by Ford Motor Company Canada Limited.

Sonya McCallum and Osman Saleh came from Oakville, Ontario to present the award last week. Dealers become eligible through excellence in dealership feedback through survey response related to their sales and service satisfaction and overall dealership experience.

Fernie Ford also received the award in 2010. Ford has been the top manufacturer in Canada three years running.

?

Source: http://www.thefreepress.ca/news/214549261.html

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Tuesday, July 9, 2013

How iOS 7's Font Change Looks in the New Beta 3

How iOS 7's Font Change Looks in the New Beta 3

iOS 7's switch to the Helvetica Neue Ultra Light typeface was one of the bigger design points for the new OS. But it came with a catch: It looked, in places, pretty bad on non-retina screens. The fix was simple enough. Just change it back to regular weight.

Read more...

    


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/dmyLRXRbH34/how-ios-7s-font-change-looks-in-the-new-beta-3-710222188

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100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

There are few professional sports as closely bound to technology as cycling. A bike isn't just equipment, as skiis or a tennis racket might be?it's a partner in a symbiotic relationship between the machine and athlete. And it's remarkable to see how drastically certain parts of that machine have changed in the last century, while others have stayed largely the same.

This year marks the 100th riding of the Tour de France, and now is a great time to take a look back at the evolution of the road bike. We ran across a great collection of bikes used on the Tour this week, courtesy of Emile Arbes at Le Blog de Velos Vintage, and added extras from around the internet, below. The collection begins at the very beginning, when road-ready meant extra mustache wax, and extends to the modern day, when bikes are so light riders often have to weight them to stay legal.

Keep in mind, we haven't spent much time focusing on contemporary technology?that's another post for another time. For more coverage of this year's tour, check out Velo City on Kinja.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1903

Sixty cyclists set out to compete in the first Tour, and only 21 finished. Maurice Garin, aka the Little Chimney-Sweep, won the day on this steel La Fran?aise. His heavy frame featured new-fangled toe clips?invented only a few years prior.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1914

A more modern geometry was emerging a decade later?check out the more recognizable drop handlebars on this Thomann-Joly ridden by Belgian star L?on Scieur, who won the tour in 1914 riding what was likely a very similar bike. Also check out the pump on the seat tube?back then, riders still did their own maintenance. In fact, it was against the Tour rules to receive help.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1924

The Tour's first Italian winner, Ottavio Bottecchia, rode a flashy AuTomoTo-Hutchinson to victory in 1924. Three years later, he was found dead of a skull fracture on the side of the road with his bike untouched. His death still remains a mystery, but some attribute it to Mussolini thugs, wary of Bottecchia's anti-fascist leanings.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1930

Andr? Leducq, who won the Tour in '30 and '32, rode a sea foam-colored Alcyon-Dunlop. Still no gears to be seen?it's hard to imagine riding a single speed bike over the forbidding Alpine climbs today. The derailleur was introduced to the Tour seven years later, in 1937, but before that, riders would have to get off their bikes and change wheels to switch between terrains.


100 Years of Tour de France Bikes Map the Evolution of Cycling

1934-39

Antonin Magne?aka "the Monk"?won the Tour in '31 and '34, when he secretly tested the first Mavic "Duralumin" rim during the race. He even went so far as to paint wood grain on the rims to avoid detection?such tech was against the rules at the time.


100 Years of Tour de France Bikes Map the Evolution of Cycling

1952

1947 Tour winner Jean Robic, who was known as "the hobgoblin of the Brittany moor" (great nickname!) rode this 1952 Colomb-Cl?ment. Check out the sweet steel lugs?and we're now well into the era of derailleurs! Robic was also one of the first riders to wear a helmet after fracturing his skull, in 1944.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1962

Jacques Anquetil (seen above with Eddy Merckx) won the Tour five times riding a Saint-Rapha?l-Helyett 1962. Check out the sweet Evian water bottle.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1967

Felice Gimondi?who won the Tour in '65?rode a Celeste-green 1967 Bianchi for several years. Contemporary Bianchi fans will recognize his initials?they're used for the company's FG Light frames.


100 Years of Tour de France Bikes Map the Evolution of Cycling

1974

Eddy Merckx is probably the best-known ride of the 20th century?he won the Tour five times, and went on to become what some claim is the most accomplished cyclist of all time. There's plenty to say about Merckx, but it's far more exciting to watch him in this excerpt from A Sunday In Hell, a documentary that covers the famously brutal Paris-Roubaix.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1985

The bespectacled Laurent Fignon rode a steel Gitane to his Tour victory in 1983 and 1984. [Image via Flickr]


100 Years of Tour de France Bikes Map the Evolution of Cycling

1990

Greg LeMond was the first non-European cyclist to win the Tour, in 1986, and won it a second and third time in in '86 and '90. Here, you can see LeMond's distinctive sunburst paint job?as well as his clipless pedals, which became common in the late 80s. [Image by C.Cal.Shoot]


100 Years of Tour de France Bikes Map the Evolution of Cycling

1994

The very last time a steel frame bike won the Tour was in 1994, when Miguel Indurain clinched his fourth of five wins. His 19.8lb Pinarello, according to some sources, was only branded as Pinarello?in reality, it was custom-built by Dario Pegoretti, the iconic Italian frame builder.


100 Years of Tour de France Bikes Map the Evolution of Cycling

1998

Now we're getting into the contemporary era, with companies experimenting with non-steel and, eventually, carbon fiber. Marco Pantani's Bianchi Mega Pro XL Reparto Corse, a custom-built aluminum frame, was the last bike to be ridden to Tour victory that wasn't made of carbon fiber. It was the end of an era.


100 Years of Tour de France Bikes Map the Evolution of Cycling

100 Years of Tour de France Bikes Map the Evolution of Cycling

1999-2003

Sure, Lance Armstrong has since been stripped of his titles, but his steel 1994 Motorola-Eddy Merckx (above) is fascinating to compare to his later rides. Armstrong went on to become an early adopter of contemporary cycling tech, mostly in partnership with Trek. He was the first Tour winner to ride a carbon fiber bike from start to finish, and in 2003, he rode the lightest bike ever used in the Tour (a 14.5 lb Trek 5900 SL) before organizers instituted a minimum weight of 15 lbs.


100 Years of Tour de France Bikes Map the Evolution of Cycling

2013

Alberto Contador, aka El Pistolero, won the Tour in '07 and '09 (and was banned for doping, for a time). This year he's back, but is lagging behind frontrunner Chris Froome according to yesterday's report. Contador is known as a climber, and his bikes are tailored to play to that strength?check out the cassette on this Specialized Tarmac SL4, which makes it easier to stay on the big ring rather than downshifting on long climbs. [top image via VeloNews]


There are plenty that we haven't included?so drop your contributions below.

All images from 1903-1976 courtesy of Emile Arbes at Le Blog de Velos Vintage.

Source: http://gizmodo.com/100-years-of-tour-de-france-bikes-map-the-evolution-of-709973821

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