Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

G20 steps back from currency brink, heat off Japan


MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy.


Japan's expansive policies, which have driven down the yen, escaped direct criticism in a statement thrashed out in Moscow by policymakers from the G20, which spans developed and emerging markets and accounts for 90 percent of the world economy.


Analysts said the yen, which has dropped 20 percent as a result of aggressive monetary and fiscal policies to reflate the Japanese economy, may now continue to fall.


"The market will take the G20 statement as an approval for what it has been doing -- selling of the yen," said Neil Mellor, currency strategist at Bank of New York Mellon in London. "No censure of Japan means they will be off to the money printing presses."


After late-night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.


A draft communiqué on Friday had steered clear of the G7's call for economic policy not to be targeted at exchange rates. But the final version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed only at price stability and growth.


"The mood quite clearly early on was that we needed desperately to avoid protectionist measures ... that mood permeated quite quickly," Canadian Finance Minister Jim Flaherty told reporters, adding that the wording of the G20 statement had been hardened up by the ministers.


As a result, it reflected a substantial, but not complete, endorsement of Tuesday's proclamation by the G7 nations - the United States, Japan, Britain, Canada, France, Germany and Italy.


As with the G7 intervention, Tokyo said it gave it a green light to pursue its policies unchecked.


"I have explained that (Prime Minister Shinzo) Abe's administration is doing its utmost to escape from deflation and we have gained a certain understanding," Finance Minister Taro Aso told reporters.


"We're confident that if Japan revives its own economy that would certainly affect the world economy as well. We gained understanding on this point."


Flaherty admitted it would be difficult to gauge if domestic policies were aimed at weakening currencies or not.


NO FISCAL TARGETS


The G20 also made a commitment to a credible medium-term fiscal strategy, but stopped short of setting specific goals as most delegations felt any economic recovery was too fragile.


The communiqué said risks to the world economy had receded but growth remained too weak and unemployment too high.


"A sustained effort is required to continue building a stronger economic and monetary union in the euro area and to resolve uncertainties related to the fiscal situation in the United States and Japan, as well as to boost domestic sources of growth in surplus economies," it said.


A debt-cutting pact struck in Toronto in 2010 will expire this year if leaders fail to agree to extend it at a G20 summit of leaders in St Petersburg in September.


The United States says it is on track to meet its Toronto pledge but argues that the pace of future fiscal consolidation must not snuff out demand. Germany and others are pressing for another round of binding debt targets.


"We had a broad consensus in the G20 that we will stick to the commitment to fulfill the Toronto goals," German Finance Minister Wolfgang Schaeuble said. "We do not have any interest in U.S.-bashing ... In St. Petersburg follow-up-goals will be decided."


The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since. At successive meetings, Germany has pressed the United States and others to do more to tackle their debts. Washington in turn has urged Berlin to do more to increase demand.


Backing in the communiqué for the use of domestic monetary policy to support economic recovery reflected the U.S. Federal Reserve's commitment to monetary stimulus through quantitative easing, or QE, to promote recovery and jobs.


QE entails large-scale bond buying -- $85 billion a month in the Fed's case -- that helps economic growth but has also unleashed destabilising capital flows into emerging markets.


A commitment to minimize such "negative spillovers" was an offsetting point in the text that China, fearful of asset bubbles and lost export competitiveness, highlighted.


"Major developed nations (should) pay attention to their monetary policy spillover," Vice Finance Minister Zhu Guangyao was quoted by state news agency Xinhua as saying in Moscow.


Russia, this year's chair of the G20, admitted the group had failed to reach agreement on medium-term budget deficit levels and expressed concern about ultra-loose policies that it and other emerging economies say could store up trouble for later.


On currencies, the G20 text reiterated its commitment last November, "to move more rapidly toward mores market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments".


It said disorderly exchange rate movements and excess volatility in financial flows could harm economic and financial stability.


(Additional reporting by Gernot Heller, Lesley Wroughton, Maya Dyakina, Tetsushi Kajimoto, Jan Strupczewski, Lidia Kelly, Katya Golubkova, Jason Bush, Anirban Nag and Michael Martina. Writing by Douglas Busvine. Editing by Timothy Heritage/Mike Peacock)



Read More..

Wall Street edges up on data, S&P up for seventh week

NEW YORK (Reuters) - Stocks rose slightly Friday with the S&P 500 gaining for a seventh week in the wake of upbeat consumer sentiment data, though thin trading and the modest rise showed a continuing trend of a consolidating market after strong recent gains.


The S&P 500, up nearly 7 percent so far this year, is facing strong technical resistance near the 1,525 level. But investors, expecting the index to advance further in the quarter, have held back from locking in profits.


The Thomson Reuters/University of Michigan's preliminary reading on the overall index of consumer sentiment rose to 76.3 in February from 73.8 in January, topping economists' forecasts of 74.8.


"This is unexpected given the increase in gas prices and payroll taxes," said Jim Awad, managing director at Zephyr Management in New York. "This is a welcome event and it should be embraced by the market."


The Dow Jones industrial average <.dji> rose 14.51 points or 0.1 percent, to 13,987.9, the S&P 500 <.spx> gained 1.44 points or 0.09 percent, to 1,522.82 and the Nasdaq Composite <.ixic> added 4.68 points or 0.15 percent, to 3,203.34.


The S&P is on track to register its seventh straight week of gains by the close of trading Friday, a feat not seen since a run of consecutive weekly gains between December 2010 and January 2011.


A surge in merger and acquisition activity, with more than $158 billion in deals announced so far in 2013, has given further support to the equity market as it points to healthy valuations and bets on the economic outlook.


Art Hogan, managing director of Lazard Capital Markets in New York, said the flurry of mergers and acquisitions should be seen as a tailwind for the market.


"You don't go into M&A if you don't have a positive outlook," he said.


Herbalife shares surged 10 percent to $42.12 a day after billionaire investor Carl Icahn said in a regulatory filing that he now owns 13 percent of Herbalife and was ready to put it in play.


Burger King Worldwide shares jumped 3.8 percent to $17.21 after it beat estimates with a 94 percent rise in fourth-quarter profit, thanks to new menu additions.


(Additional reporting by Ryan Vlastelica; Editing by Bernadette Baum)



Read More..

UK retail sales drop amid bad weather






LONDON (AP) — Official figures show retail sales in Britain dropped more than expected in January, stoking fears the economy might slip into another recession.


The Office for National Statistics said Friday that, in seasonally adjusted terms, the quantity of goods purchased in the retail sector dropped 0.6 percent from the previous month. Heavy snow is likely to have had an impact.






Sales fell by the same rate compared with the previous year, the first such year-on-year drop recorded since August 2011.


The figures were worse than economists had expected.


The estimates show a decline in goods bought in small stores but an increase for large stores. The decline was particularly steep in stores with nine or fewer employees.


Food sales dropped 2.6 percent compared with a year earlier, in terms of volume.


Weather News Headlines – Yahoo! News





Title Post: UK retail sales drop amid bad weather
Url Post: http://www.news.fluser.com/uk-retail-sales-drop-amid-bad-weather/
Link To Post : UK retail sales drop amid bad weather
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street dips off five-year highs after Europe, Japan data

NEW YORK (Reuters) - Stocks dipped on Thursday after traders cashed in some of their recent gains following weaker-than-expected economic growth data from Europe and Japan, though declines were limited by news on mergers and acquisitions.


A contraction of 0.6 percent in gross domestic product in the euro zone was the steepest for the bloc since the first quarter of 2009, while Japan's GDP shrank 0.1 percent in the fourth quarter, crushing expectations of a modest return to growth.


The persisting weakness in Europe and its implications for global growth and U.S. corporate profits prompted some investors to lock in recent profits.


The S&P 500 is still up more than 6 percent so far this year and is hovering near its highest level since November 2007.


U.S. data showed the number of Americans filing new claims for unemployment benefits fell more than expected in the latest week. That suggests the job market is improving, said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"But it won't be much of a catalyst for the market this morning because of ... the news out of Europe," he said.


Cardillo said a weaker euro, down 0.8 percent versus the U.S. dollar, was also a downward pressure on markets.


The Dow Jones industrial average <.dji> fell 13.86 points or 0.1 percent, to 13,969.05, the S&P 500 <.spx> lost 2.18 points or 0.14 percent, to 1,518.15 and the Nasdaq Composite <.ixic> dropped 8.12 points or 0.25 percent, to 3,188.76.


Shrinking European economies translated to a 5-percent drop in revenue from the region for Cisco Systems , which nonetheless beat estimates as it reported its results Wednesday. The company's shares slid 2.6 percent to $20.60.


General Motors Co reported a weaker-than-expected fourth-quarter profit, also citing bigger losses in Europe alongside lower prices in its core North American market. Still, shares rose 1.3 percent to $29.05.


Recent news on mergers and acquisitions led some investors to bid up shares of related companies.


H.J. Heinz Co shares jumped 20 percent after it said that Warren Buffett's Berkshire Hathaway and 3G Capital will buy the company for $72.50 a share, or $28 billion including debt.


American Airlines and US Airways Group said they plan to merge in a deal that will form the world's biggest air carrier, with an equity valuation of about $11 billion. US Airways shares fell 2.4 percent to $14.31.


Constellation Brands soared more than 31 percent to $41.80 after terms of its takeover of Mexican brewer Grupo Modelo were revised, granting it perpetual rights to distribute Corona and other Modelo brands in the United States. AB InBev ADRs gained 5.9 percent to $93.46.


(Additional reporting by Angela Moon; Editing by Bernadette Baum)



Read More..

Wall Street rises, S&P hits highest since November '07

DEAR ABBY: My daughters are attractive young women, both doing well in their professional careers. "Melanie," who is 27, is married to "Sam," an extremely attractive and successful man.My 30-year-old daughter, "Alicia," has been divorced for a year. Her marriage failed two years ago because she and her husband had an appetite for sex outside their marriage. While I was disturbed about that, I was horrified to learn that Melanie allows her sister to occasionally have sex with Sam.Melanie's argument is that Sam is less likely to cheat given this situation. ...
Read More..

Wall Street flat ahead of Obama speech

NEW YORK (Reuters) - Stocks were little changed on Tuesday, hovering near multi-year highs as traders awaited President Barack Obama's State of the Union address.


The economy will be one of the main topics of Obama's speech at 9 p.m. (0200 GMT Wednesday). Investors will listen for any clues on a deal with Republicans in Congress to avert automatic spending cuts due to take effect March 1.


The S&P 500 has risen in the past six weeks and is up more than 6 percent so far this year. Despite a dip in volume Monday and the sideways move this week the market is showing technical strength as it digests the recent gains.


"It's positive we haven't seen an urge to take profits after the run-up we had recently," said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.


He said it was natural for the market to be pausing amid a lack of major economic data points and with earnings season winding down, and markets will be attentively watching Obama's speech in Washington.


The Dow Jones industrial average <.dji> rose 7.6 points or 0.05 percent, to 13,978.84, the S&P 500 <.spx> lost 0.27 points or 0.02 percent, to 1,516.74 and the Nasdaq Composite <.ixic> dropped 1.41 points or 0.04 percent, to 3,190.59.


Coca-Cola Co shares fell 1.5 percent to $38.04 after the world's largest soft drink maker reported quarterly earnings that were slightly better than expected as strength in emerging markets offset a decline in European business.


Avon Products shares jumped 13.4 percent to $19.59 after the beauty products company reported a better-than-expected quarterly profit.


Goodyear Tire & Rubber shares fell 4.6 percent to $13.27 after it posted a stronger-than-expected quarterly profit but cut its 2013 forecast due to weakness in the European automotive market.


Michael Kors Holdings shares soared 12 percent to $63.82 after the fashion company handily beat Wall Street's estimates and raised its full-year outlook.


(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama, Kenneth Barry and Nick Zieminski)



Read More..

Groups want broad EPA probe of tainted Texas water






HOUSTON (AP) — More than 80 environmental groups on Monday demanded a broad investigation into whether the U.S. Environmental Protection Agency behaved improperly when it abruptly dropped enforcement actions against a gas driller it had accused of contaminating water in Texas.


The 86 groups from 12 states sent a letter to the EPA‘s inspector general, Arthur Elkins, asking that he widen an existing investigation into the agency’s actions. They cited an Associated Press report indicating the agency had scientific evidence linking Range Resources‘ drilling operations to water tainted with explosive methane and cancer-causing benzene in Weatherford, a town west of Fort Worth.






Range Resources has said the EPA dropped its demands that the company provide affected families with clean water and locate the source of the contamination after the company threatened not to cooperate with a high-profile national study into hydraulic fracturing.


The groups, including Greenpeace, the Environmental Working Group and the Center for Biological Diversity, said the EPA’s actions make it “appear that the agency is abdicating its legal obligation to protect the health and environment of all Americans.”


The groups note that when the EPA dropped its enforcement actions and ended a legal battle with Range Resources, it did not mention an analysis done by Geoffrey Thyne, an independent scientist who was hired by the agency to analyze water samples it collected from more than 30 water wells in the Weatherford area. Thyne had concluded that the gas found in the water wells was similar to the gas Range Resources was producing from the Barnett shale rock formation.


Thyne’s document, obtained by the AP, has never been made public by the EPA. The inspector general should consider in his investigation why the EPA made no mention of that study when critics said the actions against Range Resources lacked scientific credibility, the environmental groups’ letter argued.


The EPA did not immediately comment on the letter. In the past, the agency has said dropping the action against Range Resources allowed it to “shift its focus in this case away from litigation and toward a joint effort on the science and safety of energy extraction.”


Range Resources also did not immediately comment on the letter. The company has denied it contaminated Texas water, saying the gas in the water was from a different rock formation and does not originate in the Barnett shale.


In the letter, the environmental groups also question whether by not releasing Thyne’s report, the EPA denied the public “access to information that could be useful for preventing negative impacts” associated with hydraulic fracturing, also called fracking.


Fracking combined with horizontal drilling has allowed drillers to extract once out-of-reach gas and oil by pumping large volumes of chemical-laced water at high pressure into thick, impermeable rock formations. The process cracks the dense rock, releasing the oil and gas.


The industry contends the method is safe. Critics, however, say it contaminates water, and demand greater federal oversight.


In the case near Fort Worth, the EPA never said how the drilling operation contaminated the groundwater in that area.


___


Plushnick-Masti can be followed on Twitter at https://twitter.com/RamitMastiAP


Energy News Headlines – Yahoo! News





Title Post: Groups want broad EPA probe of tainted Texas water
Url Post: http://www.news.fluser.com/groups-want-broad-epa-probe-of-tainted-texas-water/
Link To Post : Groups want broad EPA probe of tainted Texas water
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street dips from multiyear highs, Fed's Yellen on tap

NEW YORK (Reuters) - Stocks slipped at the open on Monday, with the S&P and Nasdaq dipping from multiyear highs, as Google shares weighed on the market on plans by its former chief executive to sell a large chunk of his stake in the Internet company.


Trading volume was relatively low, which could make the market volatile and exaggerate moves.


Google fell 0.9 percent at $777.94 after the company said in a filing former chief executive Eric Schmidt is selling roughly 42 percent of his Google stake, a move that could potentially net him $2.51 billion.


The decline was partly offset by gains in Apple , up 1.2 percent at $480.78 after a New York Times report that the iPhone maker is experimenting with the design of a device similar to a wristwatch.


No economic data or major earnings reports are scheduled for Monday, but Federal Reserve Vice Chair Janet Yellen is due to speak about the economic recovery at 1 p.m.


Upbeat U.S. and Chinese data last week helped the S&P 500 extend its weekly winning streak to six. The benchmark is up more than 6 percent so far this year after a steep rally in January that has stalled as the S&P and Dow industrials near record highs.


The large market rally so far this year has created space for hesitation in the absence of clear catalysts, according to Steve Goldman, principal at Goldman Management in Short Hills, New Jersey.


"Some positives behind the market rally are still there, and the path of least resistance is likely to be higher," he said.


The Dow Jones industrial average <.dji> fell 35.39 points or 0.25 percent, to 13,957.58, the S&P 500 <.spx> lost 1.94 points or 0.13 percent, to 1,515.99 and the Nasdaq Composite <.ixic> dropped 5.75 points or 0.18 percent, to 3,188.12.


US Airways shares edged up as people familiar with the matter said an $11 billion merger with AMR Corp appeared closer. The deal would create the world's largest airline by passenger traffic.


Opposition grew to the $24.4 billion buyout of Dell Inc , the No. 3 personal computer maker, as three of the largest investors joined Southeastern Asset Management on Friday in raising objections. Dell said in a regulatory filing it had considered many strategic options before opting to go private in a buyout led by Chief Executive Michael Dell.


Dell shares hovered near $13.65, the buyout offer price.


Regeneron Pharmaceuticals Inc shares jumped 8 percent to $179.11 after Sanofi said it plans to buy Regeneron's common stock.


(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama and Kenneth Barry)



Read More..

First Person: Digging Out from Nemo in Western Massachusetts






Yahoo! News is gathering brief first-person accounts, photos and video from the severe winter weather in the northeastern United States. Here’s one resident’s story.


FIRST PERSON | WESTERN MASSACHUSETTS — The snow started Friday afternoon, the nice kind of snow that’s fun to play in. My family and I took a walk through our neighborhood with our 2-year old, who had a blast running along the lightly dusted sidewalks.






Saturday morning, that walk is a cardio workout. The local news says Springfield got 15 inches of snow overnight. But the snow is almost up to my knees on our side street, making the total more like 20 to 22 inches. We live right off a major street, which saw regular plowing all night. While that’s good, it also means there’s a four foot pile of snow blocking our street in.


We consider ourselves lucky. We still have power, and if we had to get out, we could probably force our way through the snow eventually. It could have been much worse. I grew up just outside Boston, and was six years old during the Blizzard of ’78. We lived a few hundred yards from the ocean, and got flooded on top of the snow. Here in western Massachusetts, we don’t have anything like that to contend with. Even compared to the Halloween ice storm in 2011, Nemo isn’t as bad. The trees aren’t snapping in half and threatening to fall on us this time.


So we got lucky. The folks I’m worried about are out east. My elderly mother still lives in our family home. Hopefully, the storm surge will spare her part of the beach this time.


Weather News Headlines – Yahoo! News





Title Post: First Person: Digging Out from Nemo in Western Massachusetts
Url Post: http://www.news.fluser.com/first-person-digging-out-from-nemo-in-western-massachusetts/
Link To Post : First Person: Digging Out from Nemo in Western Massachusetts
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



Read More..

First Person: Massive Blizzard Drops More Than a Foot of Snow on Long Island






Yahoo! News is gathering brief first-person accounts, photos and video from the severe winter weather in the northeastern United States. Here’s one resident’s story.


FIRST PERSON | A massive winter storm hit the northeast on Saturday, causing long gas lines and hazardous driving conditions on Long Island.






In this video, taken in Westbury, N.Y., at 1 p.m. on Saturday, the icy roads and slippery traffic conditions are clearly visible. Many cars have been plowed in, and it’s become difficult to get out onto the roads.


The Long Island Expressway and Sunrise Highway were closed on Feb. 8 due to dangerous driving conditions, and most roads around Long Island remain icy and covered in snow as of the morning of Feb. 9.


Many people are struggling to dig their cars out of the snow.


Motorists are advised to stay off the roads to help plows and sand-spreading crews get through.


The storm dumped at least a foot of snow on Long Island.


Weather News Headlines – Yahoo! News





Title Post: First Person: Massive Blizzard Drops More Than a Foot of Snow on Long Island
Url Post: http://www.news.fluser.com/first-person-massive-blizzard-drops-more-than-a-foot-of-snow-on-long-island/
Link To Post : First Person: Massive Blizzard Drops More Than a Foot of Snow on Long Island
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



Read More..

Snowstorm Story: Power Loss Yaphank, N.Y.






Yahoo! News is gathering brief first-person accounts, photos and video from the severe winter weather in the northeastern United States. Here’s one resident’s story.


FIRST PERSON | YAPHANK, N.Y. – It’s Saturday on Long Island, and no business is open while city employees are busy clearing snow off the roads. Although I was surprised how quickly snow covered my car on Friday, it is unbelievable today. My car is completely covered in snow. In front of my house, there is nowhere to pass.






Worst of all, I lost power last night. The snowstorm has caused many of my neighbors to stay home. My neighbors usually wake up early in the morning. As I’m writing, it is 9:43 a.m., but I can’t see anyone outside. The temperature is going down, and it is very windy.


It is very disheartening that public transportation in Yaphank has been suspended. I was hoping to jump on the bus and find an open store for breakfast.


Weather News Headlines – Yahoo! News





Title Post: Snowstorm Story: Power Loss Yaphank, N.Y.
Url Post: http://www.news.fluser.com/snowstorm-story-power-loss-yaphank-n-y/
Link To Post : Snowstorm Story: Power Loss Yaphank, N.Y.
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street advances after stream of economic data

NEW YORK (Reuters) - Stock index rose on Friday after a batch of positive economic data points, but gains were checked with the benchmark S&P index at five-year highs as investors looked for strong catalysts to push the market further upward.


Data showed Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand, while German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Another positive sign was U.S. economic data which showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


But wholesale inventories unexpectedly fell 0.1 percent in December as auto dealers and agricultural suppliers drew down their stocks.


The S&P 500 <.spx> has risen for five straight weeks and is up 6.3 percent for the year. Its advance was helped by legislators in Washington averting a series of automatic spending cuts and tax hikes earlier in the year, as well as better-than-expected corporate earnings and data that pointed to modest economic improvement but no immediate change in the Federal Reserve's stimulus plans.


The index, hovering near five-year highs, has found it tougher to climb in recent days as investors await strong trading incentives to drive it further upward.


"We are going to have this churn and this consolidation, which actually isn't a bad thing - it's actually good the market isn't being so volatile and is actually consolidating because it is building a base," said Ken Polcari, Director of the NYSE floor division at O'Neil Securities in New York.


"If it builds a base, from there it is easier to make the argument that you move ahead."


The Dow Jones industrial average <.dji> gained 67.62 points, or 0.48 percent, to 14,011.67. The Standard & Poor's 500 Index <.spx> climbed 7.82 points, or 0.52 percent, to 1,517.21. The Nasdaq Composite Index <.ixic> rose 27.34 points, or 0.86 percent, to 3,192.47.


McDonald's Corp said January sales at established hamburger restaurants around the world fell 1.9 percent, a steeper decline than analysts expected. Still, shares edged up 0.5 percent to $94.11.


Healthcare stocks were among the best performers, with the Morgan Stanley healthcare payor index <.hmo> up 2.3 percent. Molina Healthcare Inc surged 12.1 percent to $32.36 as the biggest boost to the index after posting fourth-quarter earnings.


LinkedIn Corp jumped 19.3 percent to $148.02 after announcing blow-out quarterly profits and a bullish forecast for the year that exceeded Wall Street's already lofty expectations.


According to Thomson Reuters data through Friday morning, of 339 companies in the S&P 500 that have reported earnings, 69.9 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies grew 5.2 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Bernadette Baum)



Read More..

Wall Street extends losses; Nasdaq off 1 percent


NEW YORK (Reuters) - U.S. stocks fell further on Thursday, with the Nasdaq falling 1 percent, as a sharp drop in the euro against the safe-haven dollar and yen curbed investors' appetite for risky assets.


The Dow Jones industrial average <.dji> was down 119.84 points, or 0.86 percent, at 13,866.68. The Standard & Poor's 500 Index <.spx> was down 12.31 points, or 0.81 percent, at 1,499.81. The Nasdaq Composite Index <.ixic> was down 30.76 points, or 0.97 percent, at 3,137.72.


(Reporting By Angela Moon; Editing by Kenneth Barry)



Read More..

Wall Street slips after Tuesday rally, results eyed

NEW YORK (Reuters) - U.S. stocks dipped on Wednesday as investors, awaiting fresh trading incentives, locked in profits after recent rallies took the S&P 500 to five-year highs.


Transportation stocks were among the worst performers weighed down by an 8.2 percent drop in CH Robinson Worldwide , which dropped 8.2 percent to $61.53 after reporting fourth-quarter earnings.


The Dow Jones Transportation index <.djt> shed 0.6 percent after closing at an all-time high on Tuesday. The index has surged more than 10 percent this year so far.


A 6-percent advance this year so far has lifted the benchmark S&P 500 index to its highest since December 2007, while the Dow <.dji> briefly climbed above 14,000 recently, making it a challenge for investors to continue pushing the equity market upward in the absence of strong catalysts.


"You knew a correction was coming; the question was whether they were going to tease you and get it close and then start selling it off or get (the Dow) up to 14,000 and then start to make a move to the sell side," said Gordon Charlop, managing director at Rosenblatt Securities in New York.


"We got a quick move and it's really just not healthy for markets to go one way, so the idea that a little bit of a correction is due isn't troublesome to me at all."


Walt Disney Co was among the bright spots, up 1.4 percent to $55.07 after the company topped estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


According to Thomson Reuters data through Wednesday morning, of 301 companies in the S&P 500 <.spx> that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Looking ahead, fourth-quarter earnings for S&P 500 companies are now expected to grow 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


The Dow Jones industrial average <.dji> lost 35.52 points, or 0.25 percent, at 13,943.78. The Standard & Poor's 500 Index <.spx> slipped 3.17 points, or 0.21 percent, at 1,508.12. The Nasdaq Composite Index <.ixic> shed 4.34 points, or 0.14 percent, at 3,167.24.


The benchmark S&P index rose 1.04 percent Tuesday, its biggest percentage gain since a 2.5-percent advance on January 2, when legislators sidestepped a "fiscal cliff" of spending cuts and tax hikes that could have hurt a fragile U.S. economic recovery.


Ralph Lauren Corp climbed 7.4 percent to $177.13 as the best performer on the S&P 500 after reporting renewed momentum in its holiday-quarter sales and profits.


Time Warner Inc jumped 4.3 percent to $52.11 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in its film, TV entertainment and publishing units.


Visa , the world's largest credit and debit card network, is expected to report earnings per share of $1.79 for its first quarter, up from $1.49 a year earlier. Smaller rival MasterCard recently reported better-than-expected results but said its revenue growth could slow in the first half of the year due to economic uncertainty.


(Editing by Bernadette Baum)



Read More..

Water Leaking Into Stratosphere Could Harm Ozone






Some of the coldest air on the planet lies above the tropics. And through this cold zone, more water than expected sneaks into the higher reaches of the atmosphere, a new study finds.


Upon reaching the stratosphere, the layer of the atmosphere above the one in which we live, water vapor acts as a potent greenhouse gas and destroys the protective ozone.






“Small changes in the humidity of the stratosphere are important for climate,” said Eric Jensen, lead study author and a scientist at NASA’s Ames Research Center in Moffett Field, Calif.


Where the water goes


Because it’s difficult to measure, scientists have been unsure how much water passes from the troposphere, the layer of Earth’s atmosphere we breathe, into the stratosphere (which runs from about 6 to 31 miles, or 10 to 50 kilometers, above Earth’s surface), Jensen said. At the boundary between the two zones, called the tropopause, the air is minus 120 degrees Fahrenheit (minus 90 degrees Celsius).


Researchers suspected water vapor rising into the tropopause would freeze and fall out in wispy cirrus clouds made entirely of ice crystals. In essence, they thought that the tropopause was a cold trap for water, keeping the vapor out of the stratosphere. [Infographic: Earth's Atmosphere Top to Bottom]


“That turned out to be a bit of an over-simplification,” Jensen told OurAmazingPlanet.


Flying high


In 2011, NASA sent a remote-controlled aircraft, a Global Hawk drone, on three flights through cirrus clouds high the tropical tropopause, which Jensen calls the “gateway into the stratosphere.”


Large-scale convection currents in the atmosphere bring air upwards in the tropics, driving water into the stratosphere, Jensen said. Thunderstorms can also punch water (and pollutants) directly through the tropopause.


The flights were part of an ongoing science experiment called ATTREX, for Airborne Tropical TRopopause Experiment, meant to help scientists better understand the upper atmosphere and its chemistry. The aircraft can fly up to 65,000 feet (19 km) in altitude and cover a large chunk of the tropics during a 30-hour round-trip from its current base in Palmdale, Calif.


Monitoring equipment mounted on the plane revealed that tropical cirrus clouds don’t remove as much water vapor as models predicted, Jensen said.


“We found this is sort of a leaky cold trap, because a lot more water is getting through,” he said.


In general, clouds form when air is super-saturated — when there is more water than the air can hold (think of saturation as a relative humidity of 100 percent). But near the tropopause, there aren’t enough ice crystals to quickly and effectively remove the vapor, the ATTREX flights discovered.


Water in the rising air has nothing to condense around, so some escapes into the stratosphere. The study found air crossing the tropopause with 1.6 to 1.7 times as much water as at saturation level.


The results were published online Jan. 22 in the journal Proceedings of the National Academy of Sciences.


Future ATTREX flights will also test how compounds that destroy ozone enter the atmosphere, Jensen said. Gaining a better idea of the amount of water vapor in the stratosphere could also help refine climate models.


“Ultimately, what we expect are improvements in the models that are used to predict climate change,” Jensen said.


Reach Becky Oskin at [email protected]. Follow her on Twitter @beckyoskin. Follow OurAmazingPlanet on Twitter @OAPlanet. We’re also on Facebook and Google+.


Copyright 2013 OurAmazingPlanet, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





Title Post: Water Leaking Into Stratosphere Could Harm Ozone
Url Post: http://www.news.fluser.com/water-leaking-into-stratosphere-could-harm-ozone/
Link To Post : Water Leaking Into Stratosphere Could Harm Ozone
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street extends gains; Nasdaq up 1 percent


NEW YORK (Reuters) - U.S. stocks rose on Tuesday, with the Nasdaq gaining more than 1 percent, as investors sought bargains following the market's worst daily session since November and more companies reported results that beat Wall Street's expectations.


The Dow Jones industrial average <.dji> was up 114.81 points, or 0.83 percent, at 13,994.89. The Standard & Poor's 500 Index <.spx> was up 13.63 points, or 0.91 percent, at 1,509.34. The Nasdaq Composite Index <.ixic> was up 30.81 points, or 0.98 percent, at 3,161.98.


(Reporting By Angela Moon; Editing by Kenneth Barry)



Read More..

Wall Street opens lower after recent gains


NEW YORK (Reuters) - U.S. stocks opened lower on Monday, dipping after a recent rally that took the S&P 500 to a five-year high and the Dow to 14,000 for the first time since October 2007.


The Dow Jones industrial average <.dji> was down 58.67 points, or 0.42 percent, at 13,951.12. The Standard & Poor's 500 Index <.spx> was down 6.84 points, or 0.45 percent, at 1,506.33. The Nasdaq Composite Index <.ixic> was down 18.33 points, or 0.58 percent, at 3,160.77.


(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)



Read More..

Confirmed! Bones of King Richard III Found






The body of the lost and vilified English king Richard III has finally been found.


Archaeologists announced today (Feb. 4) that bones excavated from underneath a parking lot in Leicester “beyond reasonable doubt,” belong to the medieval king. Archaeologists announced the discovery of the skeleton in September. They suspected then they might have Richard III on their hands because the skeleton showed signs of the spinal disorder scoliosis, which Richard III likely had, and because battle wounds on the bones matched accounts of Richard III’s death in the War of the Roses.






The announcement comes a day after the archaeologists had released an image of the king’s battle-scarred skull.


To confirm the hunch, however, researchers at the University of Leicester conducted a series of tests, including extracting DNA from the teeth and a bone for comparison with Michael Ibsen, a modern-day descendant of Richard III’s sister Anne of York.


Indeed, the researchers found the genetics matched up between Ibsen and that from the skeleton. “The DNA remains points to these being the remains of Richard III,” University of Leicester genetics expert Turi King said during a press briefing.


The history of Richard III


Richard III was born in 1452 and ruled England from 1483 to 1485, a reign cut short by his death at the Battle of Bosworth Field, the decisive battle in the English civil war known as the War of the Roses. [See Images of the Skull & Search for Richard III's Grave]


Richard III’s historical reputation is a twisted one, rife with accusations that he had his two young nephews murdered to secure his spot on the throne. The Shakespeare play “Richard III” cemented the king’s villainous reputation about 100 years after the monarch died.


But Richard III’s true legacy is a source of controversy. According to the Richard III Society, which has been involved in the archaeological search for the king’s remains, many of the crimes Shakespeare attributes to Richard III are on shaky grounds. Even the deaths of the young princes remain in dispute.


After the king’s death in battle, he was brought to Leicester and reportedly interred at the church of the Grey Friars, a location long lost to history. Unsubstantiated rumors sprung up around the missing grave, such as that Richard III’s bones had been dug up and thrown in a river, or that his coffin was used as a horse-trough.


Relying on historical records, University of Leicester archaeologists began excavating a city council parking lot in Leicester in August 2012 in search of the Grey Friars church. They soon found medieval window frames, glazed floor tiles and roof fragments, suggesting that they were on the right track.


Shortly thereafter, the team unearthed human remains, including both a female skeleton (possibly an early church founder) and a male skeleton with a spine curved by scoliosis. The male skeleton’s skull was cleaved with a blade, and a barbed metal arrowhead was lodged among the vertebrae of the upper back.


New discoveries


An analysis of the skeleton, ongoing ever since, revealed many characteristics consistent with Richard III, including that the man died in his late 20s or 30s (Richard III supposedly died at age 32), and he had a slender, “almost female build,” said Jo Appleby, the University of Leicester’s osteology expert. [Science of Death: 10 Tales from the Crypt & Beyond]


The man would’ve had so-called idiopathic adolescent-onset scoliosis, meaning the cause is unclear though the individual would have developed the disorder after age 10; the curvature would’ve put pressure on the man’s heart and lungs and could’ve caused pain, Appleby said. However, unlike historical records would suggest, the skeleton of Richard III showed no signs of a withered arm.


Appleby and her colleagues found and examined 10 wounds on the skeleton, including eight on the skull. None of the wounds could have been inflicted after the body was buried, though some of the wounds are consistent with being post-mortem, possibly as a way to further humiliate the king in 1485, Appleby said.


What does the discovery mean for the king’s villainous reputation?


“It will be a whole new era for Richard III,” Lynda Pidgeon of the Richard III Society told the Associated Press. “It’s certainly going to spark a lot more interest. Hopefully people will have a more open mind toward Richard.”


Where will they be re-interred? The University of Leicester has jurisdiction over the remains, and said today the Richard III skeleton would be buried under Leicester Cathedral.


Other interested parties had voiced their own opinions: The Richard III Foundation and the Society of Friends of Richard III, based in York, England, argue the remains should be reburied in York, since the king was fond of that city. The Richard III Society has remained officially neutral. Meanwhile, some online petitions have argued the reburial should take place at Westminster Abbey or Windsor Castle.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





Title Post: Confirmed! Bones of King Richard III Found
Url Post: http://www.news.fluser.com/confirmed-bones-of-king-richard-iii-found/
Link To Post : Confirmed! Bones of King Richard III Found
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..