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Friday, August 31, 2012
Bernanke says Fed ready to act but short on specifics
By Pedro da Costa and Alister Bull
JACKSON HOLE, Wyoming (Reuters) - Federal Reserve Chairman Ben Bernanke on Friday left the door wide open to a further easing of monetary policy, saying the stagnation in the U.S. labor market was a "grave concern," but he stopped short of providing a clear signal of imminent action.
His stark language gave a temporary lift to U.S. stocks, but economists walked away from the Fed chairman's remarks still divided over whether the central bank would launch a fresh round of bond purchases at its upcoming meeting in September.
Bernanke said the Fed had to weigh the costs as well as the benefits of more monetary stimulus, although he hinted the costs were likely worthwhile.
"As we assess the benefits and costs of alternative policy approaches ... we must not lose sight of the daunting economic challenges that confront our nation," Bernanke said at the Kansas City Fed's annual Jackson Hole symposium.
"Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability."
That was a somewhat weaker hint of policy easing than the minutes of the Fed's last policy meeting had delivered, but Bernanke's dour economic assessment left few doubts where his sympathy lay.
"The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human talent it entails, but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years," Bernanke said.
Financial markets see-sawed in the wake of Bernanke's comments. In early afternoon, however, stocks were trading below where they were before Bernanke spoke, although yields on U.S. government bonds were lower and the U.S. dollar was down against the euro.
EYES ON THE LABOR MARKET
In response to the financial crisis and recession of 2007-2009, the Fed cut overnight interest rates to near zero and bought $2.3 trillion in government and mortgage securities in two separate rounds of so-called quantitative easing.
It next meets on September 12-13, and policymakers have been locked in debate over whether further bond purchases are warranted to spur a stronger recovery.
Economists said Bernanke's emphasis on the health of the job market throws an especially strong spotlight on a report due on September 7 on job growth in August. Hiring picked up in July but the jobless rate moved up to 8.3 percent.
"The speech did not add anything to the information that we had, but, importantly, it did not subtract anything either," said Roberto Perli, managing director of policy research at the International Strategy and Investment Group in Washington.
"It did not walk back an inch from the fairly dovish tone of the minutes," he said, adding that it was "probably more a question of when, not if" on further asset purchases.
DOWNPLAYS RISKS OF UNCONVENTIONAL POLICIES
The Fed's aggressive efforts to prop up the economy have drawn criticism from Republican politicians for potentially sowing the seeds for inflation and asset bubbles.
Republican presidential hopeful Mitt Romney has said he does not think a third round of quantitative easing, or QE3 in market parlance, would help the economy, and some analysts think the central bank may be hesitant to act ahead of the November 6 presidential election. After September, the Fed has one more policy meeting in late October before Americans go to the polls.
Bernanke, however, downplayed the potential risks from the Fed's unconventional policies and argued that the asset purchases had been quite effective at boosting economic growth.
"The costs of nontraditional policies, when considered carefully, appear manageable," he said.
The economy emerged from recession nearly three years ago, but growth has remained tepid. U.S. gross domestic product advanced at a 1.7 percent annual rate in the second quarter, too weak to bring down the nation's elevated unemployment rate.
"Unless the economy begins to grow more quickly than it has recently, the unemployment rate is likely to remain far above levels consistent with maximum sustainable employment," Bernanke said. The Fed is charged with pursuing both price stability and full employment.
Economic data has improved since the Fed's July 31-August 1 meeting, which came before the stronger-than-expected reading for July employment. Reports on retail sales, exports and housing have also been relatively solid.
A report on Friday showed U.S. consumer sentiment hit a three-month high in August, although pessimism on the future remained.
The economy's generally better tone has led some market participants to dial back their expectations of a fresh round of Fed bond purchases in September, with analysts closely divided over the prospects for action.
As an alternative, many economists say, the Fed may simply push further into the future the date it thinks it will finally start to move interest rates higher. The central bank has said since January that it expects to keep rates near zero at least through late 2014.
(Writing by Pedro da Costa and Tim Ahmann; Editing by Tim Ahmann, Andrea Ricci and Chizu Nomiyama)
Source: http://finance.yahoo.com/news/bernanke-may-hint-stimulus-without-050759931.html
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Romney appeals to voters disillusioned with Obama
TAMPA, Florida (Reuters) - Republican Mitt Romney urged voters on Thursday to help him rebuild the U.S. economy and create millions of new jobs, asking them to overcome their disappointment in President Barack Obama and join him in restoring the promise of America.
In a high-stakes speech accepting the Republican presidential nomination, Romney said he would work to unify a divided country that believed Obama's lofty campaign promises but had lost hope they would be fulfilled.
"What is needed in our country today is not complicated or profound. It doesn't take a special government commission to tell us what America needs. What America needs is jobs. Lots of jobs," Romney said.
Earlier, the Republican National Convention in Tampa heard from a series of Romney's friends and relatives who painted a picture of a humane, compassionate man - part of a three-day effort to humanize a candidate often accused of being cold and formal.
Romney's speech, which launches a two-month dash to the November 6 election, was seen by tens of millions of television viewers and gave some their first extended look at the former Massachusetts governor.
It could be a defining moment for Romney, who has struggled to win over conservatives and connect with independent voters in a campaign against Obama that has been dominated by the sluggish economy and lingering high unemployment.
Romney says his experience as a business executive is the cure for the ailing economy and he promised to create 12 million jobs. He drew a sharp comparison between the promise of Obama's election in 2008 and the results of the last four years.
"Today the time has come for us to put the disappointments of the last four years behind us, to put aside the divisiveness and the recriminations," he said. "Now is the time to restore the promise of America."
Romney said Americans wanted to believe in Obama but had suffered from his failures of leadership.
"Hope and change had a powerful appeal. But tonight I'd ask a simple question: If you felt that excitement when you voted for Barack Obama, shouldn't you feel that way now that he's President Obama?"
"You know there's something wrong with the kind of job he's done as president when the best feeling you had, was the day you voted for him.
In an effort to inject a shot of Hollywood glamour into the convention, actor Clint Eastwood spoke before Romney. His appearance fired up the crowd, although his long, rambling and sometimes incoherent blast at Obama frequently fell flat.
"When somebody does not do the job we've got to let them go," Eastwood said.
'GREAT AMERICAN SUCCESS STORY'
Democrats alternately portray Romney, 65, as a heartless corporate raider, wealthy elitist, tax evader and policy flip-flopper who should not be trusted with the keys to the White House.
To counter that image, the convention heard emotional testimonials about Romney's work as a Mormon leader that made many convention delegates in the Tampa Bay Times Forum cry.
One couple talked of how Romney befriended and comforted their dying teenage son. A woman, Pam Finlayson, recalled how he prayed with her in hospital when her premature baby daughter was close to death.
"His eyes filled with tears and he reached down tenderly and stroked her tiny back," Finlayson said.
Romney also tried to show a softer side, describing his parents and family and defending his work at Bain Capital, the private equity company that critics have accused of raiding companies and cutting jobs.
"That business we started with 10 people has now grown into a great American success story. Some of the companies we helped start are names you know," he said, naming Staples and Sports Authority.
Romney and Obama have been running close in polls ahead of the election, but the convention so far has given Romney a boost. The latest Reuters/Ipsos online poll showed him moving into a narrow lead over Obama -- 44 percent to 42 percent among likely voters. The Republican had entered the week trailing Obama by four percentage points.
(Additional reporting by Sam Youngman and Matt Spetalnick; Editing by Alistair Bell and Jim Loney)
Source: http://news.yahoo.com/romney-tells-voters-move-obama-disappointment-015007951.html
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Thursday, August 30, 2012
After Apple bruising, Samsung to bounce back with new Note phablet
SEOUL (Reuters) - Samsung Electronics Co unveils the second generation of its popular Galaxy Note phone-cum-tablet at Europe's biggest electronics show in Berlin later on Wednesday, as the South Korean firm comes under pressure to innovate after losing a U.S. patent battle with Apple Inc.
A U.S. federal jury last week found Samsung had copied critical features of the iPhone and awarded Apple $1.05 billion in damages. Apple is now seeking speedy bans on the sale of eight Samsung phones, moving swiftly to turn legal victory into tangible business gain.
The Galaxy Note phablet, Samsung's second most popular smartphone after its flagship Galaxy S, is not included in the list of the potential U.S. sales ban, and Samsung hopes the phablet upgrade will lift any post-Apple gloom at the South Korean group.
"There won't be huge innovative changes in design, but the Note 2 will feature quite a few improvements and enable Samsung to carry on its strong sales momentum in the category," said Lee Sun-tae, an analyst at NH Investment & Securities. "With the launch, Samsung will also be trying to turn around downbeat sentiment after the U.S. legal defeat."
The new version of the Note is expected to feature a thinner and slightly bigger 5.5-inch screen, powerful quad-core processor, the latest version of Google's Android operating system called Jellybean, and improved stylus function.
It's the latest product to illustrate Samsung's attempts to make bold design changes as it comes increasingly under pressure to differentiate its line-up from the iPhone, whose simple and large touchscreen-based design revolutionized the mobile industry and is still considered the gold standard of design.
FLEXI-SCREEN
Samsung is also working to introduce smartphones with bendable screens later this year as it seeks to cement its lead in the $200 billion plus global smartphone market and challenge Apple, which is expected to launch its new iPhone on September 12.
The new Note comes just three months after Samsung released the third generation of its Galaxy S smartphone, which has already sold more than 10 million, and succeeds the original 5.3-inch Note, which was introduced in late-October and was a surprise hit, selling more than 10 million within 9 months.
Other firms that offer so-called phablets include LG Electronics and HTC. ABI Research has predicted phablet shipments could reach 208 million by 2015.
Unlike Apple, Samsung depends on various line-ups, offering a range of models in different sizes and with different software, and keeps its product cycle shorter. Later this year, it is expected to launch a new model running Microsoft's upgraded Windows operating system.
Samsung shares rose 2.9 percent to 1.23 million won in Seoul on Wednesday - in a broader Korean market that closed up 0.6 percent - and are now down just 3.5 percent from their levels before last Friday's U.S. ruling. The shares slumped 7.5 percent on Monday, wiping $12 billion off the company's market value.
A U.S. judge on Tuesday set a December 6 court date to hear Apple's request for a permanent injunction against Samsung smartphones, which could delay the potential impact of Apple's legal victory. Also, ratings agency Standard & Poor's said Apple's bruising legal win had not affected the agency's ratings on Samsung. (Reporting by Miyoung Kim; Editing by Ian Geoghegan)
Source: http://news.yahoo.com/apple-bruising-samsung-bounce-back-note-phablet-065846293.html
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IAEA forms special Iran nuclear watch group
The International Atomic Energy Agency, part of the United Nations, has created a task force to inspect and investigate Iran's nuclear program.
In this satellite image supplied by the Institute for Science and International Security (ISIS), it shows what they say are buildings, seen here at center and top, shrouded with a pink tarp to stop the U.N nuclear agency from monitoring Tehran's efforts to sanitize the site which they suspect was used for secret work on atomic weapons, in this photo dated Aug. 15.
ISIS/AP
EnlargeThe United Nations' nuclear watchdog has set up a specialized Iran Task Force to handle its inspections and investigation of the Islamic state's disputed atomic activities, an internal document showed on Wednesday.
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The brief announcement by the International Atomic Energy Agency (IAEA), addressed to its staff, appeared to be an attempt to focus and streamline its handling of the sensitive Iran file by concentrating experts and other resources in one unit.
The Vienna-based U.N. agency, which regularly inspects Iran's nuclear sites, has voiced growing concern over the last year of possible military dimensions to the country's nuclear program. Tehran says its nuclear work is entirely peaceful.
The IAEA and Iran failed on Friday to strike a deal aimed at allaying concerns about Tehran's nuclear program and unblock a long-stalled agency probe into suspected nuclear weapons research in the Islamic Republic.
Bellicose rhetoric from some Israeli politicians has fanned speculation Israel might hit Iran's nuclear sites before the November U.S. presidential vote. Washington has said there is still time for diplomatic pressure to work, but it might be drawn into any war between the two Middle East foes.
Diplomatic sources say Iran has installed many more uranium enrichment centrifuges at Fordow, a fortified underground site and a likely target in any attack. Refined uranium can have both civilian and military purposes, depending on the level of enrichment.
The internal IAEA statement said the Iran Task Force would be part of the agency's department of safeguards, which carries out inspections around the world to make sure nuclear material is not diverted for military purposes.
It said the unit would "perform functions related" to the implementation of the IAEA's safeguards agreement with Iran - which includes monitoring of its atomic sites - as well as "relevant provisions" of resolutions by the agency's 35-nation board and the U.N. Security Council.
The IAEA board and the Security Council in New York have repeatedly called on Iran to curb its nuclear enrichment programme and open it up to unfettered IAEA inspections.
"Staff members are hereby informed that the Director General (Yukiya Amano) has approved the establishment in the Department of Safeguards of the Iran Task Force," the statement said.
Source: http://rss.csmonitor.com/~r/feeds/csm/~3/SvXTo-6814w/IAEA-forms-special-Iran-nuclear-watch-group
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Source: http://www.calgaryrealestatedirect.com/listing-C3537368_Garrison_Green_Calgary.html
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Wednesday, August 29, 2012
Little-known Ryan to take center-stage at Republican convention
TAMPA, Florida (Reuters) - Paul Ryan takes his turn in the spotlight on Wednesday for the biggest speech of his political career when he accepts the nomination as Mitt Romney's vice presidential running mate at the Republican National Convention.
A question mark continues to hang over the convention as Hurricane Isaac slams into the U.S. Gulf Coast. The storm missed Tampa but has cast something of a pall over the convention because delegates are loathe to seem overly joyful while Americans elsewhere suffer.
Heading the list of speakers on Wednesday is Ryan, a conservative budget hawk from Wisconsin.
Careful not to emulate predecessor Sarah Palin, who fell from grace quickly after bursting onto the 2008 campaign as John McCain's running mate, Ryan has made a cautious start to the presidential race.
It is still unclear whether he will help Romney draw support from undecided voters who may be the critical factor in the November 6 presidential election. Polls show a mixed picture.
"Tonight, the American people -- millions who may not know a lot about Paul Ryan, other than the headlines that they've read -- are going to get to know Paul Ryan the way many of us know him: as a serious policy thinker," Republican U.S. Senator Marco Rubio told ABC's "Good Morning America" program on Wednesday.
Rubio, who represents swing state Florida and its many seniors, defended Ryan's controversial budget plan to cut government spending deeply and overhaul the government-run Medicare health insurance program for older Americans.
There has been no doubt, however, that Ryan has energized conservatives in a way Romney was unable to do during the long months of the Republican primary battle, when he faced a number of conservative challengers.
The boyish 42-year-old Ryan, a fitness fanatic, has shown himself to be an affable asset to Romney so far.
He has helped generate large crowds for Romney when the pair has campaigned together, and some conservatives who were not that excited about the former governor of Massachusetts are now ready to work hard for him with Ryan on the ticket.
Ryan also helps put in play Wisconsin, a Midwestern state that has not voted for a Republican presidential candidate since Ronald Reagan in 1984. A Romney victory in Wisconsin could alter the electoral map in a way that could hurt President Barack Obama's hopes for re-election.
LITTLE KNOWN OUTSIDE WASHINGTON
Ryan's place in prime time on Wednesday offers him the chance to introduce himself to millions of Americans who are just starting to tune in to a presidential race that is too close to call with 70 days left until the voting.
While Ryan, chairman of the House of Representatives Budget Committee, is well known in Washington, he is little known elsewhere.
Democrats are portraying Ryan as an extreme conservative ideologue whose budget proposal in the House would "end Medicare as we know it" and are using his budget plan against him in states like Florida, with its large population of retirees, and in Virginia, where thousands of government employees populate the suburbs adjoining Washington, D.C.
Romney can ill afford to lose either of those two states.
A Reuters/Ipsos poll on Tuesday found that half of Americans approve of Ryan and the other half disapprove of him.
Speaking before Ryan will be Condoleezza Rice, who served as Secretary of State under former Republican President George W. Bush. She told CBS' "This Morning" that she would press delegates about "the importance of rebuilding America at home so that we have a firm foundation from which to lead abroad."
Rice told CBS she would not accept a position in Romney's administration if he won the November 6 election.
Other speakers at the Republican convention have sought to put a human face on the often robotic Romney and enhance his likability. On Tuesday, there was no better advocate for him than his wife, Ann Romney.
She admitted to reporters she had never used a prompting device to read a speech, but during the actual delivery she seemed at ease as she painted a personal portrait of Romney, who Democrats denounce as an out-of-touch wealthy elitist.
Mrs. Romney spoke of the early years of their marriage when the high school sweethearts dined on cheap meals of tuna and pasta, saying her husband was "not handed success" as Romney's opponents charge.
Rubio, who is scheduled to introduce Romney ahead of the Republican presidential nominee's speech on Thursday, said such soft details about Romney are unlikely to come from Ryan's remarks.
"If I know Paul Ryan, we're going to get a policies speech that's also inspiring," he told CBS.
(Editing by Alistair Bell and Paul Simao)
Source: http://news.yahoo.com/republicans-nominate-romney-bash-obama-convention-005651405.html
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Clooney aids Obama campaign with Geneva fundraiser
This photo combo made from file photos shows President Barack Obama, left, and actor George Clooney. Obama says Clooney is a good friend and a good person who is sensitive about protecting that friendship. The president tells Entertainment Tonight in an interview airing Monday, Aug. 20, 2012 that he got to know Clooney through his work on Sudan when Obama was in the U.S. Senate. (AP Photo)
This photo combo made from file photos shows President Barack Obama, left, and actor George Clooney. Obama says Clooney is a good friend and a good person who is sensitive about protecting that friendship. The president tells Entertainment Tonight in an interview airing Monday, Aug. 20, 2012 that he got to know Clooney through his work on Sudan when Obama was in the U.S. Senate. (AP Photo)
GENEVA (AP) ? George Clooney raised almost $15 million for President Barack Obama's re-election campaign at the actor's Los Angeles home in May. For his second act, Clooney is set to arrive Monday in Geneva, a center for international organizations, governance and business.
Organizers expect to pull in a more modest amount of about $500,000 from U.S. donors for Obama's campaign, with many flying in to Geneva from around the world.
Americans Abroad for Obama, the event's sponsor, says on its Web site that guests are paying $15,000 per person to dine with Clooney, $5,000 for a photo with him and $1,000 to attend a reception before the dinner. About 30 people are attending the dinner, with at least 100 at the reception.
The event is co-hosted by Geneva-based American lawyer Charles C. Adams Jr. and Matthew Barzun, Obama's campaign finance chairman. The dinner is being held at Adams' home in an historic part of the city overlooking Lake Geneva, where Adams held a previous fundraiser for Obama in 2008.
Clooney was due to arrive in Geneva from the villa where he typically spends time during the summer on northern Italy's Lake Como. Obama campaign officials in Washington have declined to comment on the fundraiser.
The president has called the actor and director a good friend who tries to keep his distance so Obama won't be criticized for hanging out with Hollywood celebrities. In an interview with Entertainment Tonight earlier this month, Obama said he got to know Clooney through his work on Sudan when Obama was in the U.S. Senate. Clooney has led campaigns to end the conflict in Darfur, Sudan, and for more humanitarian aid for millions of people caught up in the fighting.
The Democratic president and Republican challenger Mitt Romney have both been aggressively hunting for campaign money overseas, seeking any advantage in a tight race that's expected to stay that way into the fall. Each has raised hundreds of thousands of dollars in this fashion, not including the sums raised overseas by both party committees, though it is just a fraction of the more than $300 million Obama has raised overall and the $155 million raised by Romney.
American citizens and green-card holders can legally donate regardless of where they live, subject to the $2,500-per-person contribution limit that applies to those living stateside. U.S. law bans foreigners from contributing to political campaigns. Campaigns, the parties and political committees are expected to review donors and reject any ineligible contributions.
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Monday, August 27, 2012
Dubstep Beat Maker Software
Getting its origins in the Southern part of London, Dubstep is a wobbly, raw, and bass riddled genre of digital dance music that has seemingly exploded onto the mainstream within the past few years. Early dubstep was more experimental and raw instrumental remixes of 2-step Garage beats. The primary goal for a budding dubstep beat maker was to successfully mix together the sister vibes of drum and bass, the funkadelic vibes of break-beat into one sound. Combining heart-stopping bass with clipped samples, keyboards, synthesizers, turntables and soul shattering drum tracks; dubstep is a newer form of electronic music that's birthplace lies in the South London underground. It has since taken the globe by storm, finding a home in some of the most mainstream of places. It seems that the masses have taken a liking to the dirty, wobbly dubstep sound..
Cost can come into play as well, should you choose to pay money for your dubstep beat maker, you're going to want to make sure that you're going to get something that's worth your money. If you're planning on using line-in sources with your dubstep beat maker, you'll probably want to know if the program your looking into even supports that sort of thing. If the dubstep beat software your using sucks, or just isn't right for you, then you're not likely to produce excellent quality tracks. Otherwise, it really isn't worth your time and/or money.
Dubstep tracks are generally made using a beat sequencing program or 'dubstep beat maker'. Every time you turn on your television you can hear some sort of dubstep in commercials for nearly everything, or being added to the soundtrack of a movie or television show. The trick is making sure that the software you get is what you're looking for. With the growing popularity of the genre as a whole, there's been a boom in software being released as dubstep beat makers. Sure, it takes a precise ear for it to truly produce audio gold; but it would also certainly help to have a beat sequencing platform (or beat maker) that worked better for your needs.
Cost can come into play as well, should you choose to pay money for your dubstep beat maker, you're going to want to make sure that you're going to get something that's worth your money. If you're planning on using line-in sources with your dubstep beat maker, you'll probably want to know if the program your looking into even supports that sort of thing. If the dubstep beat software your using sucks, or just isn't right for you, then you're not likely to produce excellent quality tracks. Otherwise, it really isn't worth your time and/or money.
Puhaps you aren't trying to be a notoriousdubstep producer. Maybe you're a budding videographer, or advertiser; and you realize the usefulnessof using popular audio styles; such as dubstep, in your multimedia projects. There's a reason that you're hearing so much dubstep in commercials, movies and video games these days; marketing and production companies know what the people want, and they give it to them. If you're not looking to pay royalties to use someone else's tracks, then you might be in the market for a low cost, easy to use dubstep beat maker. Of course, you're still going to want to make sure that it's going to be worth the money. Whether or not you're trying to make the best beat ever, it's important to know that your beat maker software can take your music where you need to go.
Source: http://www.artipot.com/articles/1352175/dubstep-beat-maker-software.htm
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Posts from Shopping-and-Product-Reviews:Fashion-Style Articles ...
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2012 Homecoming Dress Trends
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