Diberdayakan oleh Blogger.

Popular Posts Today

US defends 'enormous' climate efforts at UN talks

Written By Unknown on Senin, 26 November 2012 | 22.27

DOHA, Qatar — The U.S. defended its track record on fighting climate change on Monday at U.N. talks, saying it's making "enormous" efforts to slow global warming and help the poor nations most affected by it.

Other countries have accused Washington of hampering the climate talks ever since the Bush administration abandoned the Kyoto Protocol, the 1997 treaty limiting emissions of heat-trapping gases by industrialized countries. As negotiators met for a two-week session in oil and gas-rich Qatar, U.S. delegate Jonathan Pershing suggested America deserves more credit.

"Those who don't follow what the U.S. is doing may not be informed of the scale and extent of the effort, but it's enormous," Pershing said.

He noted that the Obama administration has taken a series of steps, including sharply increasing fuel efficiency standards for cars and trucks, and made good on promises of climate financing for poor countries. A climate bill that would have capped emissions stalled in the Senate.

"It doesn't mean enough is being done," Pershing said. "It's clear the global community, and that includes us, has to do more if we are going to succeed at avoiding the damages projected in a warming world."

The two-decade-old U.N. talks have not fulfilled their main purpose: reducing the greenhouse gas emissions that scientists say are warming the planet.

The goal is to keep the global temperature rise under 2 degrees C (3.6 F), compared to pre-industrial times.

Efforts taken so far to rein in emissions, reduce deforestation and promote clean technology are not getting the job done. A recent projection by the World Bank showed temperatures are expected to increase by up to 4 degrees C (7.2 F) by 2100.

Scientists warn that dangerous warming effects could include flooding of coastal cities and island nations, disruptions to agriculture and drinking water, the spread of diseases and the extinction of species.

Attempts to forge a new climate treaty failed in Copenhagen three years ago, but countries agreed last year to try again, giving themselves a deadline of 2015 to adopt a new pact.

Several issues need to be resolved by then, including how to spread the burden of emissions cuts between rich and poor countries. That's unlikely to be decided in the current talks in the Qatari capital of Doha, where negotiators from nearly 200 countries are focusing on extending the Kyoto Protocol, and trying to raise billions of dollars to help developing countries adapt to a shifting climate.

"We owe it to our people, the global citizenry. We owe it to our children to give them a safer future than what they are currently facing," said South African Foreign Minister Maite Nkoana-Mashabane, who led last year's talks in Durban, South Africa.

The U.N. process is often criticized, even ridiculed, both by climate activists who say the talks are too slow and by those who challenge the scientific near-consensus that the global temperature rise is at least partly caused by human activity, primarily the burning of fossil fuels like coal and oil.

The concentration of greenhouse gases such as carbon dioxide has jumped 20 percent since 2000, according to a U.N. report released last week. The report also showed that there is a growing gap between what governments are doing to curb emissions and what needs to be done to protect the world from potentially dangerous levels of warming.

"Climate change is no longer some distant threat for the future, but is with us today," said Greenpeace climate campaigner Martin Kaiser, who was also at the Doha talks. "At the end of a year that has seen the impacts of climate change devastate homes and families around the world, the need for action is obvious and urgent."

Many scientists say that extreme weather events, such as Hurricane Sandy's onslaught on the U.S. East Coast, will become more frequent as the Earth warms, although it is impossible to attribute individual weather events to climate change.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.27 | 0 komentar | Read More

Fiat Industrial and CNH reach merger agreement

MILAN — The Italian heavy-duty vehicles maker Fiat Industrial reached an agreement Monday for a full merger with its U.S. subsidiary, the farm equipment maker CNH Global N.V., creating the world's third-largest capital goods company by sales.

Fiat Industrial had aggressively pursued the full merger of the 12 percent of CNH that it didn't already own, making a pitch in the spring and then raising the value of the offer by more than 25 percent last week after CNH advisers refused to endorse the deal.

Fiat Industrial earlier this month had streamlined the management structure to better integrate the two companies, placing the head of CNH, Richard Tobin, as group chief operating officer, second in command to Chairman Sergio Marchionne, who also runs the Fiat and Chrysler car companies.

"Completion of this merger will bring to a conclusion a lengthy process of simplifying and rationalizing the Group's equity capital structure," Marchionne said in a statement issued jointly by the two companies.

The new company, which has yet to be named, will be based in the Netherlands and listed on the New York Stock Exchange. The merger is expected to close in the second quarter of next year, the companies said.

It will be the third largest capital goods company by sales, after Caterpillar and Volvo. Marchionne said the new company would be "a true peer in scale and capital markets appeal to the other major capital goods companies."

The deal is based on Fiat Industrial's sweetened offer, including a cash dividend of $10 per CNH share prior to the completion of the merger. Each CNH shareholder would receive 3.828 shares of the merged company, while each Fiat Industrial shareholder would receive one share.

Fiat Industrial shares fell 2 percent to €8.33 on the Milan exchange Monday.

Besides CNH, Fiat Industrial, based in the northern Italian city of Turin, comprises IVECO truck and heavy vehicle company and FPT Industrial powertrains. CNH, which is based in the Chicago suburb of Burr Ridge, Illinois, sells farm and construction equipment under the Case and New Holland brands in 170 countries.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Supreme Court orders new look at health care challenge

WASHINGTON — The Supreme Court has revived a Christian college's challenge to President Barack Obama's healthcare overhaul, with the acquiescence of the Obama administration.

The court on Monday ordered the federal appeals court in Richmond, Va., to consider the claim by Liberty University in Lynchburg, Va., that Obama's health care law violates the school's religious freedoms.

A federal district judge rejected Liberty's claims, and the 4th U.S. Circuit Court of Appeals ruled that the lawsuit was premature and never dealt with the substance of the school's arguments. The Supreme Court upheld the health care law in June.

The justices used lawsuits filed by 26 states and the National Federation of Independent Business to uphold the health care law by a 5-4 vote, then rejected all other pending appeals, including Liberty's.

The school made a new filing with the court over the summer to argue that its claims should be fully evaluated in light of the high court decision. The administration said it did not oppose Liberty's request.

Liberty is challenging both the requirement that most individuals obtain health insurance or pay a penalty, and a separate provision requiring many employers to offer health insurance to their workers.

The appeals court could ask the government and the college for new legal briefs to assess the effect of the Supreme Court ruling on Liberty's claims before rendering a decision.

Liberty's case joins dozens of other pending lawsuits over health reform, many involving the requirement that employer insurance plans cover contraception, which are working their way through the federal court system.

The case is Liberty University v. Geithner, 11-438.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Fiscal cliff quarrels keep US stocks in check

The stock market edged lower Monday morning, pulled down by old worries about the debt crisis in Europe and a political standoff over taxes and spending in the U.S.

In early trading, the Dow Jones industrial average was down 66 points at 12,945. The Standard & Poor's 500 was down 6 to 1,403. The Nasdaq composite index slipped less than a point, to 2,966.

Monday was the first trading day after the beginning of the holiday shopping season, a crucial time for retailers that rely on Christmas shopping to make up for shortfalls during the rest of the year. But the impact of Thanksgiving Day, Black Friday and the rest of the weekend was hard to read.

The National Retail Federation reported that 247 million shoppers visited stores and shopping websites during the Thanksgiving holiday, up 9 percent from a year ago. They spent an average of $423, up 6 percent.

Still, retailers worry that the momentum won't last. Retailers like Macy's, Target and Saks were down in early trading.

One major reason is the overhang of the "fiscal cliff." That's when both higher taxes and cuts to government programs, like unemployment benefits and Social Security, will kick in at the end of the year unless Congress and the White House work out a compromise before then.

A government report released Monday warned that a sudden increase in taxes would result in lower consumer spending next year, and some analysts wondered if the concerns about what could happen might crimp spending throughout the rest of the holiday season.

The report, by President Barack Obama's National Economic Council and his Council of Economic Advisers, estimated that a married couple earning between $50,000 and $85,000 with two children would see a $2,200 increase in their taxes.

The White House wants to raise some taxes, but key business groups have protested vehemently. The homebuilding industry says it won't stand for even small cuts to the mortgage interest deduction, a tax break that's meant to encourage homeownership. AARP has publicly lobbied against cuts to Medicare and Social Security.

To be sure, the fiscal cliff fighting could be mostly grandstanding for lawmakers. Lawmakers often fight over budget issues until the dramatic 11th hour, then work out a compromise at the last moment.

Overall, Monday morning was quiet, with no major economic reports due in the U.S. and no major companies scheduled to make big announcements. In Europe, leaders of European Union countries tried to hammer out a deal to lend more money to debt-crippled Greece, but many analysts have come to view that as another tired theme that has already been baked into the markets.

Count David Kelly, chief global strategist at JPMorgan Funds, among the underwhelmed.

"The themes seem about as recycled as Thanksgiving turkey," Kelly wrote in a note to clients, referring to the fiscal cliff and the European debt crisis. He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday, and unemployment claims and third-quarter economic growth on Thursday.

Sam Stovall, chief equity strategist at S&P Capital IQ, was similarly unmoved. "Most of these uncertainties have been with us for quite some time," he wrote in a note, "and are now regarded by many as annoyances to resolve rather than obstacles to fear."

Overall, the U.S. economy has been hard to read. For every sign that it is improving, there's another that indicates it's not. The market jumped 421 points last week, one of the best weeks of the year. It was down for four straight weeks beforehand.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Supreme Court won't get into fight over grape patents

WASHINGTON — The Supreme Court won't hear an appeal from a California table grape organization over a lawsuit seeking to invalidate several government table grape patents.

The high court on Monday refused to hear an appeal from the California Table Grape Commission, which is fighting to keep in place patents on Sweet Scarlet, Autumn King and Scarlet Royal varieties of table grapes.

Delano Farms Co. and other farms say the patents are invalid, and won a lower court decision that would allow them to go to court to fight their case. The commission wants that case thrown out, but the U.S. Court of Appeals for the Federal Circuit disagreed.

The case now goes back to the lower courts.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Big sales on Small Business Saturday

Written By Unknown on Minggu, 25 November 2012 | 22.26

When Joanne Rossman opened her namesake gift store 12 years ago she didn't bother buying a cash register — instead stuffing her profits in a Dunkin' Donuts cup behind the counter — because she thought her boutique amid empty storefronts could never compete with large retailers.

But her Roslindale Village business has flourished in recent years, and mom-and-pop shop supporters gave Rossman an extra boost yesterday on Small Business Saturday.

"It's been incredible. Every year it just gets better and better," said Rossman, who racked up huge sales during the shopping event sandwiched between Black Friday and Cyber Monday.

The campaign to support independent mom-and-pop businesses amid the holiday rush at big-box retailers and Internet sites is a way for shoppers to show love of community, said Karen Mills, head of the federal Small Business Administration, who browsed Roslindale stores yesterday.

Mills said 100 million shoppers participated in last year's campaign — including President Obama, who headed to another independent book store yesterday — and she expects that number to rise this year.

"It's really become a movement. I think it's not just about supporting the community. It's about saying 'thank you' to people in our community," she said.

Maureen Tisei of West Roxbury has done her Christmas shopping locally on the Saturday after Thanksgiving for the past three years.

"I come out to support my community. I look forward to it," she said.

Business owners said many customers whipped out credit cards from American Express, which created the campaign in 2010 and offered $25 credits for those spending at least that amount at local stores.

"Last year Small Business Saturday was my best sales day ever — in the three years I had been open at the time. We're hoping for a repeat," said Elizabeth Swanson, owner of Birch St. House & Garden.

Antone Wilson, who stopped into Diane's Bakery yesterday, said he prefers locally made sweets over chain-store goods.

"I like a real doughnut. If you've never had one, you don't know what you're missing," he said.

"Small Business Saturday has really helped highlight local retail," said Ruth Kennedy, whose family opened Birch Flower Shop 70 years ago.

"It's a great idea. We always shop locally to help the little guy," she said. "You get better service."


22.26 | 0 komentar | Read More

Egypt's stock market plummets after Morsi's decree

CAIRO — Egypt's benchmark stock index has plunged 9.5 percent halfway through the first trading session since the country's Islamist president issued decrees to assume near absolute powers.

Sunday's losses on the Egyptian Exchange's EGX30 index are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Hosni Mubarak last year.

The fall follows the announcement Thursday by President Mohammed Morsi of a package of decrees that place him above any oversight, including judicial, and extend the same protection to two Islamist-dominated bodies: a panel drafting a new constitution and parliament's upper chamber.

Morsi says his measures are designed to "protect the revolution," but they triggered an uproar among non-Islamist political groups now vowing to press on with street protests to force him to back down.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Hobbits, superheroes put magic in New Zealand film industry

WELLINGTON, New Zealand — A crate full of sushi arrives. Workers wearing wetsuit shirts or in bare feet bustle past with slim laptops. With days to go, a buzzing intensity fills the once-dilapidated warehouses where Peter Jackson's visual-effects studio is rushing to finish the opening film in "The Hobbit" trilogy.

The fevered pace at the Weta Digital studio near Wellington will last nearly until the actors walk the red carpet Nov. 28 for the world premiere. But after "The Hobbit: An Unexpected Journey" hits theaters, there's more work to be done.

Weta Digital is the centerpiece of a filmmaking empire that Jackson and close collaborators have built in his New Zealand hometown, realizing his dream of bringing a slice of Hollywood to Wellington. It's a one-stop shop for making major movies — not only his own, but other blockbusters like "Avatar" and "The Avengers" and hoped-for blockbusters like next year's "Man of Steel."

Along the way, Jackson has become revered here, even receiving a knighthood. His humble demeanor and crumpled appearance appeal to distinctly New Zealand values, yet his modesty belies his influence. He's also attracted criticism along the way.

The special-effects workforce of 150 on "The Lord of the Rings" trilogy a decade ago now numbers 1,100. Only five of Weta Digital's workers are actual employees, however, while the rest are contractors. Many accept the situation because movie work often comes irregularly but pays well. Union leaders, though, say the workers lack labor protections existing in almost any other industry.

Like many colleagues, Weta Digital's director, Joe Letteri, came to New Zealand in 2001 to work on the "Rings" trilogy for two years. The work kept coming, so he bought a house in Wellington and stayed.

"People come here because they know it's their chance to do something really great and to get it up on the screen," he said in a recent interview. "And you want to do it in these next two weeks, because the two weeks after the movie's finished are useless."

Jackson, who declined to be interviewed for this story, launched Weta in 1993 with fellow filmmakers Jamie Selkirk and Richard Taylor. Named after an oversized New Zealand insect, the company later was split into its digital arm and Weta Workshop, which makes props and costumes.

Loving homages to the craft are present in Weta Digital's seven buildings around the green-hilled suburb of Miramar. There are old-time movie posters, prop skulls of dinosaurs and apes, and a wall of latex face impressions of actors from Chris O'Donnell to Tom Cruise.

Its huge data center, with the computing power of 30,000 laptops, resembles a milk-processing plant because only the dairy industry in New Zealand knew how to build cooling systems on such a grand scale.

Little of Weta's current work was visible. Visitors must sign confidentiality agreements, and the working areas of the facilities are off-limits. The company is secretive about any unannounced projects, beyond saying Weta will be working solidly for the next two years, when the two later "Hobbit" films are scheduled to be released.

The workforce has changed from majority American to about 60 percent New Zealanders. The only skill that's needed, Letteri says, is the ability to use a computer as a tool.

Beyond having creativity as a filmmaker, Jackson has proved a savvy businessman, Letteri says.

"The film business in general is volatile, and visual effects has to be sitting right on the crest of that wave," Letteri says. "We don't get asked to do something that somebody has seen before."

The government calculates that feature films contribute $560 million each year to New Zealand's economy. Like many countries, New Zealand offers incentives and rebates to film companies and will contribute about $100 million toward the $500 million production costs of "The Hobbit" trilogy. Almost every big budget film goes through Jackson's companies.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


22.26 | 0 komentar | Read More

Jeff Kaye, voice of NFL Films, dies at 75

PHILADELPHIA — If you were going to follow John Facenda on the air, you had to have a great voice.

Maybe nobody could match the legendary Facenda, whose familiar baritone was called the "voice of God" when he broadcast for NFL Films.

But Jeff Kaye brought it off. After Facenda died in 1984, Jeff became the voice of NFL Films, lending his own sonorous baritone to the pro-football features of the Mount Laurel, N.J.-based company.

Maybe not quite God, but close to it.

"I can say to this day, when I look at some of the shows Jeff narrated over the years, I am still fascinated by the way he told a story," said Kevin McLoughlin, director of post-production for NFL Films.

"His voice — so smooth, yet booming — was always a pleasure to listen to. He had some big shoes to fill after John Facenda passed away.

"Jeff narrated hundreds of films for NFL Films over the years, from team highlights, to 'Road to the Super Bowl.' One of best voices of NFL Films."

Jeff Kaye, born Martin Krimski in Baltimore, winner of four Emmy Awards for broadcasting, whose radio career surged in Boston and Buffalo, N.Y., died of cancer Friday at the age of 75. He lived in Binghamton, N.Y.

Jeff's voice was a familiar presence in Philadelphia for some 30 years, yet hardly anybody knew his name. For years, it was his voice that announced the news broadcast on WPVI-TV: "Action News, the Delaware Valley's leading news program."

He also did voice-overs for Phillies games and commercials, advertising products and services ranging from Budweiser to NJ Transit. In Buffalo, Jeff became something of a legend in 1968 when he scripted and produced his own version of H.G. Wells' "War of the Worlds" as program director of WKBW-AM.

The broadcast wasn't as terrifying as Orson Welles' version in 1938, but it still scared the pants off many listeners with its realistic-sounding reporting by actual WKBW staffers of a supposed Martian invasion.

Jeff was a popular boss in Buffalo. Sandy Beach, a former WKBW staffer, said Jeff "had such class, style, and talent. He encouraged us to 'go for it' every time we were on the air. He recognized, hired and nurtured talent."

In the early '80s, Jeff moved to WHEN Radio in Buffalo, before coming to Philadelphia and NFL Films, where he worked with the late Harry Kalas. Jeff almost lost his voice in 1996 when a cancerous tumor was found on his left vocal cord. The growth was successfully removed, and he returned to the air.

His first broadcasting job was in Providence, R.I., after his service in the Air Force, where he was a meteorologist. He retired in 2006.

He is survived by his wife of 54 years, Suzanne; three daughters, Anne Schoonover, Judith Krimski and Sarah Krimski-Smith; a son, Peter Krimski; and seven grandchildren.

———

©2012 Philadelphia Daily News Visit the Philadelphia Daily News at www.philly.com Distributed by MCT Information Services


22.26 | 0 komentar | Read More

In need of a bailout, FHA trying to raise more revenue

WASHINGTON — You may have seen headlines last week about the Federal Housing Administration needing a taxpayer "bailout" by the Treasury and wondered: Uh oh. Is the FHA heading down the fiscal drain like Fannie Mae and Freddie Mac, which have required billions in federal assistance just to stay in business?

The good news answer for FHA's traditional borrowers — who are primarily moderate-income, first-time purchasers, people with limited cash for down payments and less-than-perfect credit histories — is no. There is a strong possibility that FHA will not require any money transfer from the Treasury, which in any event would not occur until next September. Meanwhile FHA is making tweaks to its program rules that could affect some loan applicants in the months ahead, and which are designed to improve revenue flows to the agency and cut back on losses.

Among the most immediate changes, new borrowers early next year are likely to be charged slightly higher annual mortgage insurance premiums — 1.35 percent of the loan balance rather than 1.25 percent at present. On loans above $625,500 in high-cost areas such as California and metropolitan Washington, D.C., the annual premium will go from 1.5 percent to 1.6 percent. This will not be a major problem for most people, but it could cause some buyers to check out FHA's competitors' private mortgage insurers whose monthly premiums on loans for applicants with high credit scores may be more attractive than FHA's.

To increase revenue streams long term, FHA is also abandoning its practice of allowing borrowers to cancel their annual mortgage insurance premium payments when their loan balance drops to 78 percent of the property value. In effect, this will mean that borrowers obtaining 30-year FHA loans could be paying premiums for decades.

Is this a big deal? Clem Ziroli Jr., president of First Mortgage Corp. in Ontario, Calif., thinks it could encourage some higher credit quality borrowers to "refi out" of their FHA loans and seek better deals in the conventional marketplace. But Paul E. Skeens, president of Colonial Mortgage Group in Waldorf, Md., sees it differently: With fixed 30-year mortgage rates in the mid- to upper-3 percent range and virtually certain to increase — maybe significantly if the economy improves in the coming years — "everybody is going to want to keep these loans forever," he predicts. "They're not going to want to refi."

Other changes on the FHA horizon:

L More financial counseling for applicants who have low FICO credit scores, are purchasing their first homes, and are seeking to make minimum 3.5 percent down payments.

L A new short-sale program that reaches out to existing FHA homeowners who are seriously delinquent and heading toward foreclosure. FHA Acting Commissioner Carol J. Galante said the agency plans to streamline the short-sale option — where owners are permitted to sell their house for less than the balance on the mortgage — in order to avoid the huge costs of foreclosures.

L Structural alterations to FHA's reverse mortgage program, which allows senior homeowners to withdraw funds based on the equity in their properties. The program dominates the industry and accounts for the vast majority of outstanding reverse loans in the country, but has produced inordinate losses to the FHA insurance fund because of home-value declines and the failure of some borrowers to make their property tax and insurance payments, thereby triggering foreclosures. Though few details are yet available and Congress would have to approve any statutory changes, Galante said the agency plans to restrict the amounts that seniors can draw down in a lump sum up front, among other remedial actions next year.

The bottom line on FHA's forthcoming program tweaks? Jeff Lipes, vice president of Rockville Bank in Hartford, Conn., put it this way: FHA isn't making fundamental changes. Its basic mix of enticements — low down payments, low credit score requirements and generous underwriting rules compared with competitors — aren't going away, "so I don't think the tweaks will have that great an impact on most FHA buyers."


22.26 | 0 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger