Diberdayakan oleh Blogger.

Popular Posts Today

Midtown luxury units sport perks

Written By Unknown on Sabtu, 19 Oktober 2013 | 18.38

The developers of Millennium Place, a 15-story luxury complex in midtown, aren't just selling condos, but creating an upscale urban lifestyle.

The three-bedroom condo we looked at had all the high-end amenities and views you'd expect with a price point of more than $1,000 per square foot. But what separates it from other properties of its type is a complete lifestyle experience called La Vie that offers residents social events, from fireside chats with notable guests to movie nights in the 16-seat common screening room as well as on- and off-site wine and culinary events, and musical and theatrical performances.

Other amenities include an owner's lounge with a wall-length fireplace and a bar and dining area with food catered by the upcoming on-site Legal Crossing restaurant. There's also a fully outfitted Sports Club/L.A. fitness center with a yoga room and a meditation center and a kid's club playroom.

Millennium Place has 256 luxury one- to three-bedroom units ranging in size from 775 square feet to 2,360 square feet, including 14 penthouses with private terraces. Condo prices range from $750,000 to $3.5 million, and more than 85 percent of the units have already been sold as the complex's first residents moved in this week.

There are 61 units on the more desirable Washington Street side that overlooks the Ritz Carlton Residences and the iconic Paramount Theater sign, but only six are still available. We took a look at one of these, Unit 2B, a three-bedroom, three-bath, second-floor unit that's going for $1,935,000.

The building has a distinctive exterior of staggered glass bays and beige brick, and the lobby continues the black rectangular window theme with black marble flooring, a white marble concierge desk and floor-to-ceiling glass windows overlooking a rear urban greenspace. Upstairs, the common hallways are carpeted and feature sconce lighting, and units have recessed entrances with quarter-sewn walnut doors.

The door opens into an oak hallway that leads to an open kitchen/dining/living area that has white ivory oak floors, 9-foot ceilings and recessed lighting.

The kitchen area features 20 self-closing walnut cabinets, with cashmere white granite countertops and a glass-mosaic tile backsplash. There's an island with a built-in ULine wine cooler. Other appliances include cabinet-enclosed G.E. Monogram refrigerator and Bosch dishwasher as well as a Bosch gas stovetop and Bosch oven below.

The dining/living area has a gas fireplace with black granite surround as well as a wall of floor-to-ceiling windows in a bay that projects outward, offering a panoramic three-sided view up and down Washington Street and up Avery Street to the Boston Common.

To the right of the living area is a carpeted master bedroom suite with a good-sized bedroom overlooking Washington Street. The suite has four closets, including a walk-in. The en-suite master bathroom is done in luxurious Eastern white marble floors, walls and surround for a deep soaking tub and a glass-doored steam shower. There's a creme marble-topped walnut vanity with two sinks.

Off the center hallway are the unit's other two bedrooms. The second bedroom is decent-sized with side alley views, and has an en-suite taupe and white porcelain tile bathroom with a walk-in shower and an ivory pearl marble-topped wood vanity.

The third carpeted bedroom, which would work well as a home office, is on the small side. There is a third bathroom across the hall with taupe and white porcelain tile, a walk-in shower and an ivory pearl marble-topped wood vanity.

Also along the hallway is a closet that holds a stacked Bosch washer and dryer.

Unit 2B comes with one garage parking space, with vehicles brought up by valet. The $1,923 monthly condo fee is near the $1 per square foot that top buildings typically assess, but most of the substantial amenities are included, including the free year's membership at the Sports Club/LA.

Broker: Potential buyers who wish to schedule an appointment can email bostonlives@mplaceboston.com or call 617-542-1555


18.38 | 0 komentar | Read More

Accord coupe adds some pizzazz

OK, so it may not be the Beach Boy's "Little Deuce Coupe," but the completely redesigned 2013 Honda Accord is a fun-to-drive two-door, six-speed that hits the market with flare.

It was built fresh from the ground up, with a new smooth, tight suspension that offers a quieter ride without giving up its legacy as a sporty handling sedan. I found the powerful 278 horsepower V6 to be quick, responsive and, best of all, more fuel efficient. I averaged nearly 26 miles per gallon in mixed, but spirited driving, and pushed past the high end of the 28 mpg estimate on the highway.

What was even more fun, though, was rocking through the six-speed while really driving the car. Working the gearbox, I found the throw a tad long for me, but the shift points were tight and super torquey. The coupe drives smaller than it looks and although it seats five, clambering into the back is for the more spry among us. This machine even has a hill assist, reducing some clutch fatigue.

Honda, under fire recently for its conservative design approach, has broken the mold and added some pizazz back into its lineup. The Accord, famous for its longevity, sportiness and reliability, looks to recapture its share of the highly competitive mid-size market. Shaking off a few years of pedestrian-looking sedans, the roof line has been lowered, styling sharpened and a more aggressive-looking nose added by Honda engineers who are listening to consumers' demands.

The interior fits the spirit of this rebuild with comfortable leather-trimmed seats and steering wheel and the safety features standard on the EX-L trim level included back-up camera, lane departure warning, blind spot monitoring and forward collision warning. I really liked how the infotainment center streamed my Pandora. The dash is streamlined with two gauges and car information readouts.

One tripup was the frustrating navigation system that I found to have too many drop down menus. Honda sticks with a toggle wheel for input instead of using the touch screen pad. Honda is using a Harmon-designed voice activation system that makes running the center a bit easier.

The loaded EX-L coupe's MSRP checks in with a base of $32,350 and we tested at $33,140, placing it on the higher end among the fully equipped cars in the category. But don't fret, a more modestly trimmed car can be had in the mid- $20,000s and good deals can be found on the 2013s.


18.38 | 0 komentar | Read More

Stock market shakes off shutdown

Investors put the government shutdown and default threat behind them and got back to work yesterday, pushing the Standard and Poor's 500 index to a record close for the second straight day.

"We've already seen a shift in the discussion from how to deal with the issues at hand to let's talk about how to improve growth," said Doug Handler, chief U.S. economist for research firm IHS Global Insight.

Christine Armstrong, senior vice-president at Morgan Stanley, agreed. "We're back to business," she said.

The S&P 500, up 22 percent this year, added 11.35 points yesterday, or 0.7 percent, to a record 1,744.50. The Nasdaq composite was up 51.13 points, or 1.3 percent, at 3,914.28. The Dow Jones industrial average rose 28 points, or 0.2 percent, to 15,399.65, and is 277 points below its own record.

Among the leaders yesterday was Google, rising 14 percent to above $1,000 a share for the first time after reporting third-quarter earnings that surpassed analysts' expectations. General Electric also reported higher than expected earnings, driving its shares up 3.5 percent. And Morgan Stanley jumped 2.6 percent on better than expected earnings.

Investors were relieved Washington extended the government's borrowing ability until Feb. 7 and funded the budget through Jan. 15. But Handler said there are still hazards that need to be dealt with.

"We really do need some sort of positive statement from Washington," he said.

And Armstrong believes the impact of the 16-day shutdown on the nation's economy will show itself in the coming months.

"This is a very tricky, dangerous market right now," she said.


18.38 | 0 komentar | Read More

Harvard Square icon to close

For more than three decades, it has been a fixture in Harvard Square, first as UpStairs at the Pudding and, since 2002, as UpStairs on the Square — in both its incarnations, a place that drew celebrities and locals alike for its eclectic menu and its Alice in Wonderland decor.

But on New Year's Eve, the iconic restaurant that Mary-Catherine Deibel and Deborah Hughes founded will close its doors for the last time after a grand finale fete with dancing and champagne to celebrate UpStairs' storied history.

"It's been a long and fruitful 31 years," Deibel said last night. "Now it's pedal to the metal so we have a great three months."

News that their landlord has decided to sell the building at 91 Winthrop St. came as a shock to those who have come to see it as a local landmark.

The restaurant opened in 1982 for Harvard's Hasting Pudding Woman of the Year, Ella Fitzgerald, and went on to host other celebrities over the years, including Bono, Tom Cruise, Julia Roberts and James Franco.

"The restaurant has always been beautiful and fun, with its zebra prints, hot pink walls and chandeliers," said Denise Jillson, executive director of the Harvard Square Business Association. "It could make something as simple as a roast chicken dinner memorable. It will be sorely missed."

UpStairs had a particular appeal for young professional women who could meet there after work for drinks, Jillson said. Her personal favorite was the Jackie O'.

"I have no idea what was in it," she said. "I can only tell you that it was very effective."


18.38 | 0 komentar | Read More

Boston hospitals get $12M NIH grant

Written By Unknown on Jumat, 18 Oktober 2013 | 18.38

Two local hospitals are using a federal grant to form the Boston Biomedical Innovation Center, the latest effort by nonprofit hospitals to play a role in transforming medical research into commercially viable products.

The seven-year, $12 million grant — one of three nationwide from the National Institutes of Health — will ensure that scientific advances at Brigham and Women's Hospital and Massachusetts General Hospital will "rapidly lead to new drugs, medical devices and diagnostic tools that can help improve — and even save — the lives of patients everywhere," said Dr. Anne Klibanski, chief academic officer at Partners HealthCare.

"The purpose is to help bridge the chasm in realizing the benefits of many discoveries," said Dr. Joseph Loscalzo, chairman of the department of medicine at Brigham and Women's and a Harvard Medical School professor.

As government funding grows more difficult to secure, hospitals are turning to industry to establish joint projects, said Michael Pistone of the Center for Technology Commercialization at Cincinnati Children's Hospital, which spends $1 million annually to advance research to the point of commercial viability.

Boston Children's Hospital has joined with a California diagnostics equipment maker to form a company to develop tests for pediatric diseases. And, Mass. General is teaming with AstraZeneca to find the best matches between patients and treatments.

"It's obvious you need to have partnerships in order to make medical progress," said Edward Abrahams, president of the Personalized Medicine Coalition, an education and advocacy group. "We need to break down the barriers."


18.38 | 0 komentar | Read More

Shutdown fix makes companies defensive

The short-term fix that ended the government shutdown will have significant effects on the state and national economy as companies may put off hiring and spending for new projects while uncertainty over a permanent budget solution lingers, experts said.

One of the most direct impacts will be on the defense industry, including Waltham-based Raytheon.

Just awarded a $385 million Navy contract to develop an air and missile defense radar system, Raytheon could push back the additional hiring necessary to fill the contract because of uncertainty in the government and the potential for another shutdown in a few months, said defense analyst Loren Thompson, COO of the Lexington Institute in Virginia.

"It's quite possible that a hundred or more engineers who might have been hired on this program will be hired later or not hired at all," Thompson said. "They have to behave more cautiously."

Raytheon did not respond to requests for comment.

Virginia-based General Dynamics, which has an engineering and manufacturing facility in Taunton that employs about 100 people, also could be cautious with its investments and hiring over the next few months, Thompson said. A General Dynamics spokesman declined to comment on the company's plans.

Elliot Winer, chief economist for the Northeast Economic Analysis Group and former chief economist for the state, said businesses in general will likely be hesitant to make investments or new hires.

President Obama yesterday addressed the economic impacts of the shutdown.

"These last few weeks have inflicted completely unnecessary damage on our economy. We don't know yet the full scope of the damage, but every analyst out there believes it slowed our growth," Obama said.

Standard & Poor's Ratings Services said the shutdown cost the economy $24 billion, and research firm IHS Global Insight reduced its fourth-quarter forecast for U.S. economic growth to 1.6 percent from 2.2 percent. Spending at chain retail stores fell 0.7 percent last week, mortgage applications dropped 5 percent, and auto sales slumped about 2 percent.

Chris Geehern, executive vice-president of Associated Industries of Massachusetts, said the potential for another budget fight "will dampen the creation of new jobs and opportunities."

"Employers remain concerned that a lack of a solution to the underlying issues may well bring us back to the brink again," Geehern said.


18.38 | 0 komentar | Read More

Facebook to profit, but teens pay cost

Facebook has just made it a bit easier for members of Generation TMI to mess up their lives.

Mark Zuckerberg & Co. 
announced Tuesday that teens are now allowed to post public updates and photos to their Facebook profiles. This is due to two undeniable truths: It's better for business, and Facebook doesn't give a hoot about your kids, their future or their 
safety.

Teens are major consumers, with their disposable income and susceptibility to marketing and fads. Advertisers want greater access to them, and Facebook was reeling from recent research showing the current generation is starting to view the service as unhip. But make no mistake: 94 percent of teens on social media have a Facebook account, according to the Pew Research Center. And an estimated 5.6 million children under 13 have lied about their date of birth to get around the site's age requirement and sign up.

Though cyberbullying is a huge issue, Facebook's newly relaxed privacy rules are more likely to impact things like college acceptance and employment. University admissions offices now admit to checking social media profiles of prospective students. Like it or not, employers have a huge interest in the social media footprint of 
employees, too.

The American Academy of 
Pediatrics now warns that parents should talk to their kids about social media just as they should talk to their kids about drugs. That's not as hyperbolic as it sounds. The part of our brains that anticipates the consequences of our behavior isn't fully developed for women until age 25 and men until age 30. The notion of teens going down a rabbit hole of bad social media should be treated with the same vigilance as drug addiction.

We need to teach kids in elementary school that when they post something on the Internet, they are adding to a body of research that will become their memoir. Every status update, tweet and comment by a friend is a sentence in your yet-to-be-written biography. Evidence suggests this is literally true. Decades from now, biographers won't be sifting through attic boxes for handwritten letters and interviewing elders, they'll have programs that automatically crawl through social media archives and Internet 
archives.

Social media is akin to the greatest generation gap since rock 'n' roll. The only difference is, it's got actual potential for harm, and Facebook just amplified the risk.


18.38 | 0 komentar | Read More

Downtown evolves as a neighborhood

No longer do the sidewalks roll up after 6 p.m. in the Financial District.

The Hub will see twice the number of new housing units during this cycle than it did last cycle. And it is well-positioned to absorb the housing spurt, as there is a shift toward more urban living.

Accompanying the new housing are more amenity retail options and a different vibe in office tenancy in Downtown Crossing and the Financial District — an area we now just call downtown.

Greg Vasil, CEO of the Greater Boston Real Estate Board, said the lines for the two districts were artificially drawn — one a retail area and the other an office area — but now it is all one.

"The Downtown Crossing area was always the place to shop, and as a natural progression over time, the area is going from a retail district to a mixed-use district," Vasil said. "Downtown Crossing is on its way to becoming another 'living district,' where you have the amenity retail, such as the Walgreens superstore, Roche Brothers grocery store, as well as more fitness centers, retail and restaurants."

David Begelfer, CEO of NAIOP-Massachusetts, a commercial real estate association, said Boston has evolved, both commercially and residentially.

"It is no longer the sense if you are looking for residential you look only to the Back Bay or the South End, you are looking at options that go across the city," Begelfer said. "Same thing goes for office, it is no longer just the Financial District; it is Back Bay, the Seaport, Allston, Brighton and Fenway that are showing very strong life for office development, not a usual situation."

Over the past 13 years, the topography of Greater Boston's commercial tenant landscape has shifted significantly.

To keep talent, companies are moving into the city. Many of these non-financial companies want to be in an urban location with some street vibe to it, said Peter Farnum, senior managing director and principal at Cassidy Turley.

"PayPal, with its move into the fifth and sixth floors of One International Place, and Technip, with its relocation from East Cambridge to One Financial Center, are just two of the recent technology and innovation firms to move into the downtown market," Farnum said.

A significant step forward in changing the face of downtown is Millennium Partners' $630 million complex of new offices, stores and 450 luxury residences on the former Filene's site at the corner of Washington and Summer streets.

Advertising giant Arnold Worldwide and its sister agency, Havas Media, will occupy about 125,000 square feet in the project.

Several other housing developments already are underway in the downtown, including the recently opened 256-unit condo building at Millennium Place and a 381-unit apartment tower by Kensington Investment on Washington Street.

With its AAA bond rating, Boston is on its way to becoming a world class city.

Jennifer Athas is a licensed real estate broker. Follow her on Twitter @Jenathas.


18.38 | 0 komentar | Read More

Mobile co. touts Wi-Fi phone

Written By Unknown on Kamis, 17 Oktober 2013 | 18.38

Consumers are paying for the wrong part of owning a smartphone, according to a Cambridge company that has launched a mobile service that lets users call, text and surf the web at no cost via Wi-Fi.

Scratch Wireless customers pay for a smartphone and only a smartphone, co-founder Alan Berrey said.

"There's this mobile industry which has us all in large contracts" that charge for the service more than the phone, Berrey said. "The model is upside down."

There is no voice or data service — although texts can still be sent —included when not connected to Wi-Fi, but users can pay $2 for 24 hours of mobile data or voice, or buy a monthly pass through its partnership with Sprint.

The phone — which has been optimized to make calls and send text messages over Wi-Fi — is a Motorola Photon Q, a phone released a year ago to generally positive reviews.

The target audience, Berrey said, is young people who text far more often than they call, and are often in range of wireless Internet.

Between 60 and 65 percent of all mobile data, according to Berrey, is used at home.

What makes Scratch different than other low-cost services such as TracFone and Cricket, is that once the phone 
is bought, the service can be free.

"We expect a pretty large part of our customers to not pay a dime" after buying the phone, he said.


18.38 | 0 komentar | Read More

Budget battles bad for business

Even though there's a short-term deal to reopen the government and raise the debt ceiling, the never-ending cycle of budget fights are hurting consumer confidence and creating uncertainty about the economy, business leaders and an economist said.

"All of the surveys show that consumers are cautious," said Jon Hurst, president of the Retailers Association of Massachusetts. "It couldn't have come at a worse time," Hurst said of the 16-day showdown.

With just over a month before the holiday shopping season gets going, lower confidence could lead to lower spending at a key time, he said.

The bipartisan legislation put together by the Senate lets the Treasury borrow through Feb. 7, and funds the government through Jan. 15. The Senate and later the House both passed it last night. The White House said President Obama signed the bill early today, hours after the House gave final approval.

"We fought the good fight. We just didn't win," House Speaker John Boehner said.

The White House budget office has already instructed federal workers to plan to return to work this morning.

"We'll begin reopening our government immediately and we can begin to lift this cloud of uncertainty from our businesses and the American people," the president said.

The bill, however, only delays the same debate, said Jim Klocke, executive vice president of the Greater Boston Chamber of Commerce.

"The fact that the deal that has been struck is only a three-month fix is in many ways only going to prolong the uncertainty," Klocke said. "All we've done is deferred the arrival of the bullet for a few months."

Nigel Gault, co-chief economist for the Parthenon Group, said the nation's global credibility will take a hit.

"We've gone to the brink once again, damaged the international reputation of the U.S.," Gault said.

The bill contained almost nothing substantial for Republicans demanding changes to Obamacare. The only provision is a requirement for Health and Human Services Secretary Kathleen Sebelius to produce a report stating her agency can verify the incomes of individuals who apply for federal subsidies.

Republican Sen. Rand Paul of Kentucky, a potential 2016 presidential candidate, told Boston Herald Radio yesterday he was never in favor of shutting down the government as a way to fight Obamacare. "I've always thought really if you want to talk about Obamacare, talk about how bad it is, and how awful it's going to be ... that's all good. But attaching it to shutting down the government, I didn't think was a good idea," he said.

The Associated Press contributed to this report.


18.38 | 0 komentar | Read More

White House: Furloughed workers can return to work

WASHINGTON — The federal government is back open for business.

The Obama administration changed the government's status to "open" early Thursday, more than two weeks after a partial shutdown took hold when funding from Congress ran out.

Minutes after President Barack Obama signed a hard-fought deal struck in Congress, the White House directed all agencies to reopen promptly and in an orderly fashion. Furloughed federal employees across the country are expected to return to work Thursday.

"In the days ahead, we will work closely with departments and agencies to make the transition back to full operating status as smooth as possible," said Sylvia Mathews Burwell, director of the Office of Management and Budget.

Unless they are told otherwise, all employees should return to work on their next regularly scheduled work day, the Office of Personnel Management said. For most workers, that means they'll be expected to clock in Thursday morning.

But the administration also said agencies are strongly encouraged to be flexible where they can, including by allowing telework, flexible scheduling and excused absences in cases of hardship. Many federal workers may be unable to return to work on such short notice.

The White House encouraged federal workers to check OPM's website for additional instructions about returning to work.

Hundreds of thousands of workers have been furloughed since the shutdown started Oct. 1. The measure Obama signed Thursday restores government funding through Jan. 15. It also extends the nation's borrowing authority through Feb. 7, averting a potential default.

___

Online:

Office of Personnel Management: http://www.opm.gov


18.38 | 0 komentar | Read More

SF Bay Area trains run as strike talks drag on

OAKLAND, Calif. — The contentious talks between the San Francisco Bay Area Rapid Transit agency and its two largest unions have dragged on for six months — a period that has seen a chaotic dayslong strike, a cooling-off period and frazzled commuters wondering if they'll wake up to find the trains aren't running.

"We're going to do everything we can to avert a strike," Josie Mooney, a chief negotiator for Service Employees International Union Local 1021, said before entering talks Wednesday. "That doesn't mean we're not ready for a strike. That doesn't mean we're not able to pull off a work action. We don't want to."

Hundreds of thousands of commuters have endured seven strike deadlines, sometimes staying up past midnight waiting to hear if the trains will run in the morning.

On Wednesday, they waited until about 10:30 p.m. to receive word from a federal mediator that the transit system will continue to run Thursday as unions and management agree to keep talking.

The possibility of a strike appeared to dim earlier in the day when Local 1021 President Roxanne Sanchez said she was hopeful that her union and the Amalgamated Transit Union Local 1555 will come up with a deal by late Wednesday.

"We're asking that this process conclude tonight," Sanchez said. "We can do this. We should do this. It is within our grasp."

BART spokeswoman Alicia Trost said the agency has been flooded with calls and emails this week from commuters frustrated that they haven't been given earlier notices.

Neither side would say where negotiations stand.

But at least one person seems comfortable betting that a strike won't happen.

A spokeswoman for San Francisco Mayor Ed Lee announced Wednesday afternoon that he had left on a trip to Asia. After delaying his flight for two days to ready the city for a possible strike, Lee concluded that a walkout seemed unlikely and went ahead with the planned trip.

Federal mediator George Cohen said progress has been made but he has imposed a gag order on the parties.

The key issues have been salaries and worker contributions to their health and pension plans.

Talks began in April, three months before the June 30 contract expirations, but both sides were far apart. The unions initially asked for 23.2 percent in raises over three years. BART countered with a four-year contract with 1 percent raises contingent on the agency meeting economic goals.

The unions contended that members made $100 million in concessions when they agreed to a deal in 2009 as BART faced a $310 million deficit. And they said they wanted their members to get their share of a $125 million operating surplus produced through increased ridership.

But the transit agency countered that it needed to control costs to help pay for new rail cars and other improvements.

On Sunday, BART General Manager Grace Crunican presented a "last, best and final offer" that includes an annual 3 percent raise over four years and requires workers to contribute 4 percent toward their pension and 9.5 percent toward medical benefits.

The value of BART's proposal is $57 million, BART spokeswoman Alicia Trost said, adding that the agency is looking at ways to incorporate the unions' counterproposals into that cost.

SEIU Local 1021 executive director Pete Castelli said Monday the parties were between $6 million to $10 million apart.

Workers represented by the two unions, including more than 2,300 mechanics, custodians, station agents, train operators and clerical staff, now average about $71,000 in base salary and $11,000 in overtime annually, the transit agency said. BART workers currently pay $92 a month for health care and contribute nothing toward their pensions.

Meanwhile, Gov. Jerry Brown has stepped in to at least delay a strike by workers for regional bus system Alameda-Contra Costa Transit. Such a strike would leave commuters stranded without a mass transit alternative if a BART strike is underway at the same time.

Brown appointed a three-member panel to investigate a strike notice by union workers. The move effectively prevents a strike, which had been threatened for Thursday, for a week. A 60-day cooling-off period in the contract dispute could then be imposed.


18.38 | 0 komentar | Read More

Demand for food aid spikes in Britain

Written By Unknown on Rabu, 16 Oktober 2013 | 18.38

LONDON — Demand for emergency food aid has spiked this year in Britain, a leading charity said Wednesday, suggesting low-income households' living standards are still sliding despite the end of the recession.

The Trussell Trust, a Christian charity that operates food banks throughout the country, said in a report that just under 356,000 people received three days of non-perishable food between April and September — about 10,000 more than their entire 2012-2013 financial year.

Chris Mould, the Trussell Trust's executive chairman, appealed to the government to launch an inquiry into the causes of hunger in the U.K. With winter approaching, the worst may be yet to come.

"This is disturbing," he said. "It's not going away. It's getting worse."

WORRIES AHEAD OF WINTER

Mould said that increasing numbers of people in Britain are living on incomes that are insufficient to cover the rising costs of food, gas and electricity, fuel, transport and other basic necessities. Disposable incomes have fallen, when adjusted for inflation, since the global financial crisis erupted in 2007-2008. But the cost of necessities has risen — gas and electricity costs are up 30 percent in real terms since 2007.

The trust says many people this winter will choose between "eating and heating."

"People at food banks have started giving back food items that need cooking because they can't afford to turn on the electricity," the trust said in a statement.

The British Red Cross announced last week it would have 30,000 volunteers help in a massive food drive at the end of November. The Red Cross hasn't been involved in food distribution on a wide scale in Britain since World War II.

IMPACT OF AUSTERITY

The stress on the poor has increased since Britain's coalition government, elected in 2010, imposed tough spending cuts and tax increases intended to reduce the budget deficit. That government has cut welfare payments, forced many low-income residents to pay local government tax for the first time, and imposed a new fee for public housing tenants with spare bedrooms.

Treasury chief George Osborne has acknowledged that the austerity has proven to be hard on the country — and that recovery is taking "longer than anyone hoped." But the government insists the pain is a short-term necessity for the country's long-term economic well-being — and that there is no evidence that welfare reforms are causing people to go hungry.

Among those struggling is Tim Day, 30, a graphic designer who is between jobs and visited one of the trust's distribution centers at the United Reformed Church in Bromley on Tuesday. Between temporary work contracts, Day was grateful for a three-day supply of food including orange juice, vegetables, and porridge. But he's always worried about making ends meet.

"It's stressful," he said, describing the constant ups and downs that come without the certainty of a full-time job.

UPWARD TREND

The numbers show a steady increase in the numbers of people needing help to eat. When the trust's network started in 2000, it served 600 people at one site. By 2008, as the global financial crisis was erupting, that number had climbed to nearly 26,000 at 60 sites.

The trust keeps opening new centers and now has about 400 that operate in conjunction with churches and charitable institutions.

Britain's government said in a statement that it isn't surprising that numbers of users would increase as the number of food banks increase.

But the trust says the increase is not linked to people learning about their services and signing up for free food. Recipients are referred by social service workers, and other professionals who issue vouchers meant to help people get through an emergency. No one is allowed to just drop in.


18.38 | 0 komentar | Read More

Obamacare adviser: Rollout in crisis

The MIT mastermind behind the state's health insurance reform law and key adviser to President Obama's plan says the botched rollout and technical issues plaguing signups for the health exchanges that are part of the administration's signature bill threatens to devolve into a crisis if they are not fixed soon.

"I wish it were going a little bit better," said Jonathan Gruber, an economics professor at the Massachusetts Institute of Technology and the architect of Romneycare, which was the blueprint for Obamacare. "I think it harms the perception."

Healthcare.gov has seen outages and slow response times, preventing people from signing up for the health care exchanges that are part of Obamacare since its launch Oct. 1.

Still, Gruber believes that the difficulties people have had signing up online will be forgotten in six months, as long as the current issues are taken care of soon.

"Right now we're at 
DEFCON politically problematic," he said.

If the problems persist through November, he said, the consequences will be more significant. There is a Dec. 15 deadline to apply for coverage effective Jan. 1.

"At the end of November we move to genuinely problematic," and it will become a crisis if the issues are not resolved by March 31, when open enrollment closes, he said.

Gruber said he wouldn't be surprised if some technical problems persist but that doesn't mean the online exchanges and the law itself are not working.


18.38 | 0 komentar | Read More

Asian stocks mixed as US debt deal deadline looms

MANILA, Philippines — Asian stock markets fluctuated between gains and losses Wednesday as a deadline for divided U.S. lawmakers to agree on a higher government borrowing limit drew ever closer.

Unless Congress acts by Thursday, the government will lose its ability to borrow and will be required to meet its obligations by relying on cash in hand and incoming tax receipts. That could mean the U.S. is unable to repay holders of Treasury bills that mature in coming days and would be in default on its debt.

Japan's Nikkei 225 was up 0.2 percent at 14,464.04 while Hong Kong's Hang Seng dropped 0.4 percent to 23,226.53. China's Shanghai Composite fell 1.4 percent to 2,203.34. Australia's S&P/ASX 200 added 0.2 percent to 5,268.20.

Stock indexes in Singapore, Malaysia, New Zealand and the Philippines eked out modest gains.

"The market is still relatively calm waiting for the storm to hit tomorrow, when the U.S. will reach its debt ceiling and then default will follow and all hell will break loose," said Francis Lun, chief economist at GE Oriental Finance Group in Hong Kong.

"Everybody is thinking the inevitable now. It is inevitable that the U.S. will miss an agreement before the deadline," he said.

On Wall Street, stocks were flat or down all day Tuesday, but the size of the losses waxed and waned depending on which politician was giving a press conference about the budget impasse. The market closed with its first loss in a week. Yields on short-term government debt rose sharply as investors worried about the possibility of a default.

Another reason for Wall Street's pessimism was that any deal reached this week might simply set up another showdown a few months down the road.

Lawmakers are also trying to agree on ending a partial government shutdown that has resulted in many Federal workers idled without pay.

The Dow Jones industrial average fell 133.25 points, or 0.9 percent, to 15,168.01. The Standard & Poor's 500 fell 12.08 points, or 0.7 percent, to 1,698.06. The Nasdaq composite fell 21.26 points, or 0.6 percent, to 3,794.01.

In energy markets, benchmark crude for November delivery was up 4 cents at $101.17 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.20 to close at $101.21 on Tuesday.

The euro fell to $1.3511 from $1.3522 late Tuesday in New York. The dollar rose to 98.53 yen from 98.22 yen.


18.38 | 0 komentar | Read More

Review: Button location sets LG's G2 apart

SEOUL, South Korea — The G2 and the G Pad 8.3, the flagship smartphone and tablet from LG Electronics Inc., are great mobile devices that have fantastic screens, top-end cameras and ample processing power.

But making an impressive device is not enough to stand apart from the crowd in the ultra-competitive mobile phone market, which probably pushed LG to make some bold design decisions in a bid to differentiate its G series from Samsung's Galaxy line and Apple's iPad mini.

For the G2, which was released last month in the U.S., LG moved the power and volume controls to the back of the phone. For the G Pad, which goes on sale in the U.S. next week, LG added a full HD screen, a rarity in 8-inch tablet computers.

While these design choices set the G2 and the G Pad apart from 'me too' devices trying to catch up with Samsung and Apple, they might also limit their appeal.

Not everyone will be pleased with having to change the basic habits of smartphone operation. They will scratch their heads looking for those buttons just like I did. The full HD screen display makes the G Pad a couple of hundred dollars more expensive than other 8-inch tablets.

It took a couple of days before my index finger ceased pressing a volume key when I intended to press a power key. But after that, I realized having a power button on the back makes it easier to use a big handset with one hand. The G2 has a 5.2-inch screen.

LG came up with a double-tap gesture to activate the phone. I found it easier and quicker than pressing a home button and then sliding to unlock as with my iPhone 4S. This double-tap to start also applies to the G Pad.

LG removed the physical home button on the front for the G2 and the G Pad. Instead, virtual buttons for back, home and menu actions appear when the screen is activated. I preferred these virtual buttons over physical ones because I could touch them with the same gesture and pressure I applied to the touchscreen. One downside of Samsung's Galaxy devices is that the touchscreen and the three buttons for home, back and menu options all need a different level of pressure to be activated.

LG's virtual buttons rotated with the screen when I tilted the G2 or the G Pad to a landscape mode. That made them easy to access when I watched a movie in the landscape mode with the G Pad. Removing the physical home button also gives the screen more space in the phone.

But the design elements that make the G2 and the G Pad different from rivals stopped there.

LG has packed the G2 with other features but many of them were no better than what is already available. For example, a feature called Task Slider allows multitasking by swiping the screen with three fingers to hide or reopen an application. But Android users are familiar with an extended press of the home button to bring up a list of applications in use, which is quick and more intuitive.

The G2 will be a great choice but only for people who don't mind re-learning how to use a smartphone. In the U.S., the G2 smartphone is available at $200 with a two-year contract or $600 without a contract from a carrier.

For people who are willing to pay a premium for the 8.3-inch tablet's full HD screen, the G Pad will also be a decent choice. While the U.S. price is yet to be announced, in South Korea the tablet is offered at 550,000 won ($515).

___

Follow Youkyung Lee on Twitter: www.twitter.com/YKLeeAP


18.38 | 0 komentar | Read More

Asian stocks gain on US debt deal hopes

Written By Unknown on Selasa, 15 Oktober 2013 | 18.38

MANILA, Philippines — Asian stock markets rose Tuesday, tracking gains on Wall Street, where shares were boosted by signs that Washington was moving closer to a deal that would avert a debt default by the U.S. government.

Two days from a deadline to increase the U.S. debt ceiling, investors remain focused on developments in Washington. Most think a deal will be reached in time and stock markets were holding up.

The U.S. has to increase the amount of debt it can sell by Oct. 17 or face a possible default, a scenario that could derail the U.S. economic recovery and roil international markets.

Investors in Asia "are hoping that the US can have a deal done to resolve the debt limit problem in coming days, so I think that's the biggest news for the Asian markets," said Jackson Wong, vice president at Tanrich Securities in Hong Kong.

Negotiations between Republicans and Democrats over the weekend failed to reach a conclusion either on raising the debt ceiling or the partial shutdown of the U.S. government, which has now entered a third week.

Japan's Nikkei 225 stock average added 0.2 percent to 14,425.04 and Hong Kong's Hang Seng gained 0.6 percent to 23,351.84. South Korea's Kospi was 0.8 percent higher at 2,036.56. Taiwan's stock index rose 0.9 percent to 8,347.55.

China's Shanghai Composite index bucked the trend, down 0.3 percent at 2,230.62.

Wong said recent economic data from China has been mixed, with investors still not sure whether the Chinese economy will stabilize after a prolonged slowdown.

Markets in Indonesia, Malaysia, Singapore and the Philippines were closed for holidays.

On Wall Street, the Dow Jones industrial average rose 64 points, or 0.4 percent, to close at 15,301 on Monday.

The Standard & Poor's 500 rose seven points, or 0.4 percent, to 1,710. The Nasdaq composite rose 23 points, or 0.6 percent, to 3,815.

In energy trading, benchmark crude for November delivery was down 13 cents at$102.28 a barrel in electronic trading on the New York Mercantile Exchange.

The euro rose to $1.356 from $1.3554 late Monday. The dollar dropped to 98.45 yen from 98.67 yen.


18.38 | 0 komentar | Read More

SF area transit strike looms hours before deadline

OAKLAND, Calif. — A San Francisco Bay Area transit system and its two largest unions were negotiating right up to a midnight deadline Monday as fear of a second gridlock-inducing strike in three months intensified.

The parties held talks throughout the day after the unions backed off a threatened strike deadline late Sunday and gave Bay Area Rapid Transit managers a 24-hour reprieve. But by late afternoon it appeared that both sides were remaining firm in their positions.

BART board president Tom Radulovich urged representatives of the Amalgamated Transit Union Local 1555 and the Service Employees International Union Local 1021 to let its more than 2,300 members vote on the agency's final offer presented Sunday.

"We've been at this for a total of 150 days at this point and we think it's time for the union leadership to let us know, to let the people in the Bay Area know whether they are going to take an offer to their membership," Radulovich said.

But SEIU 1021 executive director Pete Castelli said the unions remained unhappy with BART's last offer. He said the unions presented a counteroffer to management late Monday and warned that the strike deadline still stands. He told commuters to consider transportation alternatives in the morning.

"It rests in the district's hands at this point," he said.

About 400,000 riders take BART every weekday on the nation's fifth-largest commuter rail system.

"I am so frustrated with the way they've been holding the riders hostage," said BART commuter Toba Villatore, 45, of San Francisco as she headed to work. "I'm tired of staying up until midnight wondering if there's going to be a strike or not."

Sticking points in the 6-month-old negotiations include salaries and workers' contributions to their health and pension plans. Castelli said Monday that while the parties had made progress on pay, pension and health care benefits they also were still at odds on issues related to work rules.

BART General Manager Grace Crunican said that the offer presented to the union Sunday was $7 million higher than Friday's proposal. It includes an annual 3 percent raise over four years and requires workers to contribute 4 percent toward their pension and 9.5 percent toward medical benefits.

Workers from the two unions, which represent more than 2,300 mechanics, custodians, station agents, train operators and clerical staff, now average about $71,000 in base salary and $11,000 in overtime annually, the transit agency said. BART workers currently pay $92 a month for health care and contribute nothing toward their pensions.

Crunican said the unions have two weeks from Sunday to accept the deal before it is taken off the table.

"It is time to bring this to a close," Crunican said.

BART workers went on strike for nearly five days in early July and were about to go again on Friday when a 60-day cooling-off period ordered by Gov. Jerry Brown expired.

However, the parties continued negotiating over the weekend and into Monday, as ridership was light because of strike fears and the Columbus Day holiday.

A pending strike forced San Francisco Mayor Ed Lee to cancel a trip to China. He said that "people's very livelihoods hang in the balance."


18.38 | 0 komentar | Read More

New York Times goes global by rebranding IHT

PARIS — The New York Times Co. has rebranded its Paris-based daily, the International Herald Tribune, as the International New York Times — a bid to lure readers abroad amid the upheaval of the digital era facing traditional newspapers.

Executives say the rechristening Tuesday aims to get the most out of its brand, and complete a gradual fusion of the newspapers' editorial staffs in recent years. The Times took control of the IHT a decade ago by buying the stake of its co-owner, The Washington Post.

Worldwide subscribers to the Herald Tribune — with a print circulation of 224,000 and distribution in about 135 countries — woke up Tuesday to a similar-looking newspaper. Novelties include a new masthead, enhanced Page 2, and opinion pieces by dozens of new international columnists.

Europe editor Richard W. Stevenson said the rebranding is really about going digital and reaching out to readers abroad.

"The real driver of what we're doing is a belief that there is a global, digital audience for the journalism that we do," Stevenson said in a recent interview at the newspaper's offices in the La Defense business district west of Paris. He pointed to the goal of converting visitors who get limited free access into paying customers.

"Right now, about 10 percent of our digital subscribers are outside of the United States — but about 25 or 30 percent of our digital audience comes from outside the United States," he said. "Right there, in the gap between people who are subscribers, and regular visitors to our site, there's an opportunity."

For the launch week, access to the international edition's website, global.nytimes.com, will be free, Stevenson said.

With many print publications facing competition from social media, bloggers, 24-7 international television newscasts and other outlets, the Times Co. has been shucking assets — notably The Boston Globe — to focus on a core business of becoming an online provider of news, comment, video and multimedia.

While the IHT's circulation has held up relatively well in recent years compared with some print publications, Stevenson said, "the reality is that print — across our industry, around the world — is a really tough business now."

The International Herald Tribune was the latest incarnation of a newspaper founded in Paris 126 years ago as the European edition of the New York Herald, which was a rival of the Times in the bruising mid-19th century New York newspaper industry. James Gordon Bennett Jr., son of the founder of the sensationalist and popular Herald, put to use new trans-Atlantic cable just as readers were spreading out by rail and steamship.

Over the years, the Herald Tribune became an ink-and-newsprint staple for U.S. expatriates and foreigners looking for a dose of Americana. For more than a century, it was one of the few distributors of English-language news — plus baseball scores, daily crosswords, and comic strips — to readers in far-flung corners of the globe. Recently, it has gained a strong niche in fashion coverage: Fashion editor Suzy Menkes is a doyenne of the Paris catwalks.

The newspaper's Parisian roots were epitomized in Jean-Luc Godard's immortal 1960 film "Breathless," with Jean Seberg as an American gamine "Golden Girl" who peddled it on the Champs-Elysées while wearing a sweater bearing the Herald Tribune logo. Stevenson said Paris "is part of the DNA" of the newspaper, but "it's no secret that Paris is a very expensive place to do business."

The IHT's last edition Monday included a special insert section — with snapshots of its front pages announcing the death of Britain's Queen Victoria and founder Bennett; a headline on Germany's invasion of Poland in 1939; and photos of Martin Luther King Jr., Andy Warhol and George Clooney reading it.

The special insert in the first new edition Tuesday contained essays looking to the future.

"We all have a touch of nostalgia for the days gone by," Stevenson said. "The best way, though, to preserve those journalistic traditions — the best way for us to ensure that our readers continue to get what they expect from us — is for us to integrate (print and online) operations more fully."


18.38 | 0 komentar | Read More

Apple taps Burberry CEO to oversee stores

LONDON — Apple said Tuesday that Burberry CEO Angela Ahrendts, who used technology to drive a remarkable turnaround at her luxury fashion house, will take charge of the company's expansion plans and retail operation.

Ahrendts, who will become a senior vice president at Apple next spring, is credited with helping transform Burberry from an established if stodgy brand known for its iconic trench coats to one of the fashion world's leading companies. Together with chief creative officer Christopher Bailey, Ahrendts championed melding digital and mobile technology with the runway.

"She shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience," Apple Chief Executive Tim Cook said in a statement.

Bailey, who will become Burberry CEO on Ahrendts' departure, live-streamed his catwalk shows to fans worldwide through online channels like Twitter. Shoppers who wanted the runway's coats, shoes and bags could point and click — staking a claim to the hottest fashions months ahead of the items appearing in stores.

The pair proved a powerful team, with Ahrendts presiding over the head office while Bailey oversaw creative marketing, store design and consumer technology, helping complete a turnaround started by another American executive, Rose Marie Bravo.

Burberry was rewarded with growth, particularly in Asia, where luxury and classic British craftsmanship proved a highly successful combination. The company's share price has consistently outperformed the FTSE 100 stock index, and she has proved one of country's most prominent female executives.

Burberry on Tuesday reported first-half sales rose 14 percent to 1 billion pounds ($1.6 billion).

The move to Apple Inc. marks another step in the career of Ahrendts, a native of New Palestine, Indiana, who also served as executive vice president at Liz Claiborne Inc. and president of Donna Karan International.


18.38 | 0 komentar | Read More

Study ties chemical to possible miscarriage risk

Written By Unknown on Senin, 14 Oktober 2013 | 18.38

BOSTON — New research suggests that high levels of BPA, a chemical in many plastics and canned food linings, might raise the risk of miscarriage in women prone to that problem or having trouble getting pregnant.

The work is not nearly enough to prove a link, but it adds to "the biological plausibility" that BPA might affect fertility and other aspects of health, said Dr. Linda Giudice, a California biochemist who is president of the American Society for Reproductive Medicine. The study was to be presented Monday at the group's annual conference in Boston. Last month, ASRM and an obstetricians group urged more attention to environmental chemicals and their potential hazards for pregnant women.

BPA, short for bisphenol-A, and certain other environmental chemicals can have very weak, hormone-like effects. Tests show BPA in nearly everyone's urine, though the chemical has been removed from baby bottles and many reusable drink containers in recent years. The federal Food and Drug Administration says BPA is safe as used now in other food containers.

Most miscarriages are due to egg or chromosome problems, and a study in mice suggested BPA might influence that risk, said Dr. Ruth Lathi, a Stanford University reproductive endocrinologist.

With a federal grant, she and other researchers studied 115 newly pregnant women with a history of infertility or miscarriage; 68 wound up having miscarriages and 47 had live births.

Researchers analyzed blood samples from when the women were discovered to be pregnant and divided them into four groups based on BPA levels. Women in the top quarter had an 80 percent greater risk of miscarriage compared to those in the bottom group even though they were similar in age and other factors. However, because the study is relatively small, there was a big range of possible risk — from only slightly elevated to as much as 10 times higher.

"It may be that women with higher BPA levels do have other risk factors" for miscarriage that might be amplified by BPA, Lathi said.

The study is not cause for alarm, but "it's far from reassuring that BPA is safe" for such women, she said.

To minimize BPA exposure, avoid cooking or warming food in plastic because heat helps the chemical leak out, she said. Don't leave water bottles in the sun, limit use of canned foods and avoid handling cash register receipts, which often are coated with resins that contain BPA.

"It's impossible to avoid it completely," Lathi said.

___

Online:

BPA info: http://1.usa.gov/QHrkfN

Infertility info: http://www.sart.org and

http://www.asrm.org

___

Follow Marilynn Marchione on Twitter at http://twitter.com/MMarchioneAP


18.38 | 0 komentar | Read More

Flaws mar Obamacare rollout

Don't be fooled by the rhetoric about our nation's health portal: From a technical standpoint, there's no excuse for its failures.

The disastrous rollout of Obamacare's online health insurance marketplace at HealthCare.gov has been blamed on traffic overload, other connected systems that were unreliable and "routine" glitches.

Those excuses were valid a decade ago, but not today. Not with the advanced software architecture and cloud storage capabilities that currently exist to solve all the stated problems.

Any semi-capable software developer can now test how a site will react to traffic loads. The HealthCare.gov developers should have been able to simulate the massive rush to the site and tweak as needed. One must conclude they either knew it was going to crash or never bothered to test.

Untold numbers of people were turned away at the site's front door, and many others were stymied further along the process by myriad errors. Even yesterday, the site remained painfully slow.

They had three years and more than $400 million for this project. It is estimated to cost more than $700 million upon completion. It would be an understatement to say that a botched rollout of this magnitude would be unacceptable in the private sector.

As if that wasn't infuriating for advocates (like me!) and detractors of universal health care alike, the Obama administration has also made the incredible claim that it purchased more servers to prevent traffic-related crashes, meaning that its data was being stored on-site. That would mean the health care marketplace is making little or no use of the computing cloud, the most fundamental innovation for data storage in recent years.

But even if there was a reason that cloud computing could not be used, and even if developers had no way to anticipate the level of traffic, some basic software architecture solutions could have prevented the bulk of issues.

Think about when you order something from Amazon. You order what you need, and then behind the scenes, the system starts working. It must communicate with its inventory mechanisms, prompt a distribution facility for shipment and process a credit card transaction. Now, does Amazon crash when one of those steps fails? Of course not. It keeps trying behind the scenes and emails you later to confirm your transaction or alert you of a problem. These steps don't need to be done instantly.

The same goes for the Obamacare portal. Consumers should have been able to fill out a form and receive their response later via email.

Maybe there are good reasons for HealthCare.gov to pose a bigger problem than we know.

But no one has pointed to a plausible explanation. And after three years and nearly a billion dollars, a better explanation is desperately needed.


18.38 | 0 komentar | Read More

5 cars for the explorer ready to settle down — with flair

Adventure and exploration is all fine and good, but it doesn't mean a whole lot if you don't like where you end up.

If you've had enough of blazing a trail over rough terrain, car expert Mike Magrath, features editor at Edmunds.com, has put together a list of top cars that are perfect for settling down and settling in.

"You can get something a little extra that not only meets your needs, but will impress you," Magrath said.

Here are five cars that balance what you need and what you want.

 2014 Honda 
Odyssey

The minivan is a staple of settling down, and the Odyssey gets it right, Magrath said. Complete with a new, optional, built-in vacuum cleaner, the Odyssey is the ultimate family vehicle.

"There is nothing with more human friendly space than a minivan," Magrath said, and the Odyssey has "all the room in the world to load your kids and your stuff." (Base price: $28,825)

 2014 Lexus IS 350

"The Lexus IS 350 is the car you get when you're tired of blending into your suburb," Magrath said. "It has all of the standout looks to separate you from the crowd."

The luxury sedan's looks are great, but the inside is just as good, Magrath said.

"It's proven, powerful, super drivetrain won't let you down," he said. (Base price: $39,465)

 2013 Toyota 
Prius C

A no-frills hybrid, the Prius C absolutely excels at city driving, Magrath said.

"It will slog through those city streets and return an honest to goodness 53 miles per gallon," he said.

Small and light, "the Prius C is an excellent commuting, parking, living among people car," Magrath said. (Base price: $19,080)

 2014 Porsche Panamera

Porsche's luxury sedan, the Panamera, does everything a sedan needs to, but with the performance of a Porsche.

"It offers the type of performance you expect from a sports car half its size," Magrath said.

With the Panamera, "no one at the golf club needs to know when the sun goes down, you go race," he said. (Base price: $78,100)

 2013 Jaguar XF

The XF is a family car for the car lover. "It's something passionate that pulls you," Magrath said of the XF. "It is rich with intricate little details."

Available in multiple configurations, including a 550 horsepower V8, "it's an experience," Magrath said.

"It's a car with tons of personality." (Base price: $46,975)


18.38 | 0 komentar | Read More

World stocks ebb as US debt resolution awaited

BANGKOK — World stock markets ebbed in holiday-thinned trade Monday as investors waited for a resolution to the U.S. budget deadlock.

With the Oct. 17 deadline to increase the U.S. debt ceiling looming, Republican leaders have said they would vote to extend the government's borrowing authority for six weeks while a spokesman for President Barack Obama said he would "likely" sign a bill to increase the nation's ability to borrow money. But negotiations over the weekend did not reach a conclusion.

An agreement could also end the partial government shutdown that has idled about 350,000 Federal workers without pay for nearly two weeks.

Trading was muted in Asia, with markets in Tokyo and Hong Kong closed for holidays.

Outside of those major financial centers, China's Shanghai Composite Index rose 0.4 percent to 2,237.77 while South Korea's Kospi was off 0.2 percent at 2,020.27. Australia's S&P/ASX 200 shed 0.4 percent to 5,207.90. Markets in Taiwan and Southeast Asia were also down.

In early European trading, France's CAC-40 fell 0.2 percent to 4,208.96 and Germany's DAX lost 0.3 percent to 8,702.26. Britain's FTSE 100 was little changed at 6,489.81.

Wall Street rose for a second day Friday as investors bet lawmakers would reach agreement to raise the debt limit and prevent the U.S. from defaulting on its debt payments, a possibly that has upset markets since mid-September. U.S. government bonds are usually considered the world's safest investment, so even the possibility of a default is unnerving for investors.

But futures augured losses for U.S. shares on Monday. Dow futures were down 0.6 percent at 15,083 and S&P 500 futures retreated 0.7 percent to 1,687.80.

In energy markets, benchmark crude for November delivery was up 42 cents at $102.42 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 99 cents to close at $102.02 on Friday.

The euro rose to $1.3563 from $1.3555 late Friday in New York. The dollar rose to 98.31 yen from 98.19 yen.


18.38 | 0 komentar | Read More

The Ticker

Written By Unknown on Minggu, 13 Oktober 2013 | 18.38

Menino to get lifetime award from biz council

Retiring Boston Mayor Thomas M. Menino is picking up a prestigious honor from a regional business organization.

The New England Council plans to present Menino with a lifetime achievement award at its annual dinner Wednesday in Boston.

The city's longest-serving mayor will leave office at the end of the year. He's battled health problems in recent years.

TOMORROW

  • Columbus Day — Bond market closed; stock markets, commodities markets open.

TUESDAY

  • Coca-Cola Co., Johnson & Johnson and Citigroup Inc. report quarterly financial results before the market opens.
  • Yahoo Inc., Intel Corp. and CSX Corp. report quarterly financial results after the market closes.

WEDNESDAY

  • National Association of Home Builders releases housing market index for October.
  • Federal Reserve releases Beige Book.

THURSDAY

  • Labor Department releases weekly jobless claims
  • Freddie Mac, the mortgage company, releases weekly mortgage rates.
  • Treasury Secretary Jacob Lew says the government's borrowing authority will expire Oct. 17.

FRIDAY

  • Conference Board releases leading indicators for September.

18.38 | 0 komentar | Read More

Site lets buyers haggle for goods

After his menswear business "took it on the chin" when the economy went sour, Shawn Harris was approached by fashion websites such as BuyWithMe and Gilt City that offered to promote his clothes, but he demurred.

They would have slashed his prices by half right from the outset, he said, and then he would have had to split the profits with them.

"I felt there had to be a better way," said Harris, 37. "I thought, 'What if I let the consumer tell me what they're willing to pay, and I give them a reward?'"

That seed of an idea grew into Nyopoly, the women's fashion business that he founded in Boston in 2011 and that will compete against 127 other MassChallenge finalists from around the world on Oct. 30 for a share of $1 million in prize money.

Since the website went live 11 months ago, it has registered 3,000 members, who negotiate for current-season clothes, shoes and accessories ranging in price from $65 for a pair of small-brand ballet flats to $1,300 for a Prada bag.

Members can make up to three offers on any item and receive an answer in seconds. If their first offer is accepted, they get a 
20 percent cash-back credit to use toward a future purchase. If their second offer is accepted, they get a 10 percent cash-back credit. And if their third is accepted, they get only the item — but at the discounted price they offered.

If that offer is rejected, they can either pay full price or wait 48 hours to make a new round of offers on the item. In the meantime, they can still negotiate for other Nyopoly goods.

Harris can afford to use all this haggling as a business model because he buys goods at wholesale either directly from the brands or through distribution, he said.

"It beats going to the store," said Stacie Calixte, 35, of Brockton, who's bought about a half-dozen things from Nyopoly since she first heard about the site from her mother in January. "It's more convenient, and it gives you more flexibility than sites that say, 'This is our price; take it or leave it.'"


18.38 | 0 komentar | Read More

World finance officials focus on global risks

WASHINGTON — World finance officials pledged on Saturday to deal with new risks to the global recovery while they kept up pressure on the United States to address the biggest threat of all — a market-rattling default on U.S. debt.

The International Monetary Fund's policy committee said the United States needed to take "urgent action" to address the budget impasse that has blocked approval of legislation to increase the government's borrowing limit before a fast-approaching Thursday deadline.

U.S. Treasury Secretary Jacob Lew, who has shuttled between the global finance talks and negotiations with Congress over the debt ceiling, has warned that he will exhaust his borrowing authority Thursday and the government will face the prospect of defaulting on its debt unless Congress raises the current $16.7 trillion borrowing limit.

Across town from the global finance meetings Saturday, an effort at the Capitol to pass a one-year extension of the borrowing limit failed to get sufficient votes. But in a more hopeful sign, negotiations to end a partial government shutdown, now in its 12th day, and raise the debt ceiling began between Democratic and Republican Senate leaders.

Global finance officials were nervously monitoring those talks during their three days of discussions, held around the annual meetings of the 188-nation IMF and its sister lending agency, the World Bank.

At a concluding news conference, World Bank President Jim Yong Kim stressed the urgency for Washington policymakers to reach agreement on raising the debt ceiling before the Thursday deadline.

Kim said if the debt ceiling is not increased, the economic fallout could include increased interest rates, slower global economic growth and falling business confidence. Such an outcome, he said, would have a "disastrous impact" on poor nations.

Mario Draghi, head of the European Central Bank, said Saturday that he found it "unthinkable that an agreement won't be found."

Draghi expressed hope that a resolution could be found soon.

"If this situation were to last a long time, it would be very negative for the U.S. economy and the world economy and could certainly harm the recovery."

Asked what might happen if the U.S. budget debate were not resolved for six months or more, Singapore Finance Minister Tharman Shanmugaratnam, the chairman of the IMF committee, said it would be harmful to the entire world because it would be a blow to the confidence that is needed for businesses to make investment decisions.

Adopting language used Friday by the Group of 20 major economies, the IMF's policy panel in its closing statement said, "The United States needs to take urgent action to address" the uncertainties created by the budget impasse.

The IMF panel called on emerging economies, which have been key in recent years to global growth, to undertake the reforms they need to better withstand the adjustments that will come as central banks such as the Federal Reserve begin the process of withdrawing the economic support that has kept interest rates at ultralow levels.

Emerging market economies benefited from investment flows as investors poured money into those nations during the period when rates were low in the United States and other major economies. But many of the emerging economies have been rocked in the past few months as the investment flows reversed as investors rushed for the exits following the Fed's signals in June that U.S. higher rates could be coming.

Countries such as India and Indonesia have been among the hardest hit as their currencies and stock prices tumbled.

In addition for the need for developing countries to improve their economic fundamentals to withstand the transition, the IMF called on the Fed and other major central banks to pursue interest-rate policies that are "carefully calibrated and clearly communicated."

Critics have charged that the Fed has botched its communications strategy and left investors confused while Fed officials contend that the economy has not improved as expected, and because of that, it delayed an expected initial reduction in bond purchases at the September meeting.

Now with the hit to the U.S. economy from the partial government shutdown and the uncertainty over the debt ceiling, many economists believe the Fed will not start trimming its $85 billion in monthly bond buys until next year after Vice Chair Janet Yellen, who was nominated this week to succeed Fed Chairman Ben Bernanke, takes over in February. Her nomination by President Barack Obama must win Senate approval.

Many economists believe that once the transition has been accomplished, the global economy should actually begin growing at better rates in part because less support from the Fed will mean the U.S. economy is doing better and serving as a market for foreign products.

"A while ago there was an excess of exuberance and now perhaps an excess of pessimism," Alexandre Tombini, the head of Brazil's central bank, told the International Monetary Fund's policy-setting panel Saturday.

Lew told finance ministers that the United States understands the role it plays as "the anchor of the international financial system." He assured the finance officials that the administration was doing all it could to reach a resolution with Congress to reopen the government and increase the borrowing limit.

Russian Finance Minister Anton Siluanov, whose country currently holds the rotating chair of the G-20, told reporters that no emergency plans had been discussed by the group to deal with the potentially catastrophic impact on the global economy of a U.S. debt default.

"We trust the U.S. authorities will find a way out of this complex situation," Siluanov said. Other finance leaders attending the meeting said they saw the risk of default as remote.


18.38 | 0 komentar | Read More

Shutdown impact: Some national parks could reopen

The government shutdown continues with some glimmer of hope for those who would like to visit the nation's national parks: The Obama administration said it would consider offers from the states to use their own money to pay for park operations and Utah jumped at the chance.

The shutdown has had far-reaching consequences for some but minimal impact on others. Mail is being delivered. Social Security and Medicare benefits continue to flow. But the shutdown has been particularly harsh on those who rely on tourism, such as communities near the Grand Canyon and Yellowstone national parks.

A look at how services have been affected, and sometimes not, by Congress failing to reach an agreement averting a partial government shutdown:

TRAVEL

Federal air traffic controllers remain on the job and airport screeners continue to funnel passengers through security checkpoints. Furloughs of safety inspectors had put inspections of planes, pilots and aircraft repair stations on hold, but the Federal Aviation Administration says it is asking 800 employees — including some safety inspectors — to return to work this week. More than 2,900 inspectors had been furloughed. The State Department continues processing foreign applications for visas and U.S. applications for passports, since fees are collected to finance those services. Embassies and consulates overseas remain open and are providing services for U.S. citizens abroad.

BENEFIT PAYMENTS

Social Security and Medicare benefits continue to be paid out, but there could be delays in processing new disability applications. The Social Security Administration is also delaying the announcement of the size of next year's cost-of-living adjustment, which was supposed to come out on Oct. 16. Unemployment benefits are also still going out.

FEDERAL COURTS

Federal courts, which have been using fees and other funds to operate since the shutdown began, will likely have enough money to operate until Oct. 17, and possibly Oct. 18.

After that, the courts will run out of money and shut down all nonessential work.

A limited number of workers would perform essential work, while all others would be furloughed. Each court would make a determination on what is essential and nonessential. Judges would still be able to seat jurors, but the jurors won't be paid until Congress provides funding. Court-appointed lawyers would also not get paid.

The Supreme Court opened its term Monday and says its business will go on despite the ongoing shutdown. The Supreme Court announced Thursday it would stay open through Friday, Oct. 18, including hearing two days of arguments next week.

RECREATION

All national parks have been closed since the shutdown began, but the Obama administration said Thursday it would allow states to use their own money to reopen some national parks.

Utah is the first state to take up the offer, and national parks located there are expected to open Saturday. Colorado also reached agreement to reopen Rocky Mountain National Park. But several states say they are unlikely to participate.

Figures compiled by a coalition of retired park service workers indicate that some 700,000 people a day would have been visiting the parks and that the surrounding areas are losing $76 million in visitor spending per day.

In Washington, monuments along the National Mall have been closed, as have the Smithsonian museums, including the National Zoo. Among the visitor centers that have closed: the Statue of Liberty in New York, Independence Hall in Philadelphia and Alcatraz Island near San Francisco.

National wildlife refuges were closed to hunters and fishermen just as hunting season was getting underway in many states. However, the Fish and Wildlife Service said late Friday that it's reopening several wildlife refuges, mostly in the Midwest, to allow pheasant and duck hunting.

CONSUMER SAFETY

Several protection agencies have curtailed their work.

The Nuclear Regulatory Commission shut down most operations on Thursday. However, resident inspectors will remain on the job and any immediate safety or security matters will be handled.

The Food and Drug Administration and Centers for Disease Control and Prevention say they can handle recalls and high-risk foodborne outbreaks, but discovering them will be more difficult because many of the people who investigate outbreaks have been furloughed. Routine food safety inspections were suspended, so most food manufacturers won't have to worry about periodic visits from government inspectors. U.S. food inspections abroad have also been halted. USDA inspectors are on the lines every day in meatpacking plants and are required to be there by law for the plants to stay open.

The National Transportation Safety Board is not investigating most transportation accidents, making an exception only if officials believe lives or property are in danger. The agency suspended 1,500 investigations that were underway before the shutdown. Nor has the board collected information on or sent investigators to the scene of 20 accidents involving U.S.-manufactured aircraft that have occurred around the globe since Sept. 30.

Auto recalls and investigations of safety defects have been put on hold during the partial government shutdown. The public can still file safety complaints through the National Highway Traffic Safety Administration's website, but no one has been investigating them in the new fiscal year. Manufacturers can still voluntarily recall vehicles, but major recalls are typically negotiated between the government and automakers.

The Consumer Product Safety Commission is no longer screening products at ports of entry to prevent potentially dangerous ones from reaching store shelves, such as children's products containing excessive levels of lead.

ENVIRONMENT

At the Environmental Protection Agency, the shutdown means the agency can no longer certify whether vehicles meet emissions standards, delaying some new models from reaching car lots. New pesticides and industrial chemicals are also in limbo because the EPA has halted reviews of their health and environmental effects. And the nation's environmental police are no longer checking to see if polluters are complying with agreements to reduce their pollution.

HEALTH AND RESEARCH

New patients are generally not being accepted into clinical research at the National Institutes of Health, but current patients continue to receive care. NIH has made exceptions to allow 12 patients with immediately life-threatening illnesses — mostly cancer — into research studies at its renowned hospital. Normally, about 200 new patients every week enroll in studies at the NIH's research-only hospital, many of them after standard treatments have failed. Medical research at the NIH has been disrupted as some studies have been delayed. With two-thirds of personnel sent home, the Centers for Disease Control and Prevention has been severely limited in spotting or investigating disease outbreaks such as the flu or that mysterious MERS virus from the Middle East. The FDA has halted the review and approval of new medical products and drugs. Nearly all staff at the National Science Foundation has been furloughed, and new scientific research grants are not being issued.

EDUCATION

The impact of the shutdown on school districts, colleges and universities has been relatively minimal. Student loans have continued to be paid out. But school trips to national parks and museums have been canceled, and some university researchers have been unable to apply for grants or access government databases. Vocational rehabilitation programs helping adults with disabilities could begin to feel a pinch because these agencies receive 80 percent of their funding from the federal government.

LABOR ISSUES

The Equal Employment Opportunity Commission will not investigate any charges of discrimination or respond to questions from the public during the shutdown. It will request delays in ongoing court proceedings and will not hold any hearings or mediations. The National Labor Relations Board, which investigates and remedies unfair labor practices, has virtually ceased to exist during the shutdown. More than 99 percent of its staff has been furloughed, postponing nearly every pending hearing, investigation and union election.

TAXES

The Internal Revenue Service says more than 12 million taxpayers who filed for automatic extensions in the spring have tax returns due on Tuesday. Those returns, the agency says, are still due, regardless of the shutdown.

The IRS suspended all audits and will not be processing any tax refunds during the shutdown. Got questions? Sorry, IRS call centers will not be staffed, though automated lines are still running.

ECONOMIC DATA

How well is the economy faring? That's harder to tell given the array of economic reports measuring the health of the nation's economy that have been postponed. The reports measure such things as monthly unemployment, inflation, imports and exports, and retail sales.

HOUSING

Some borrowers are finding it harder to close on their mortgages. The delays could worsen if the shutdown continues and possibly undercut the nation's housing recovery. Some lenders are having trouble confirming applicants' income tax returns and Social Security data due to government agency closures. Furloughs at the Federal Housing Administration are slowing the agency's processing of loans for some low- to moderate-income borrowers and first-time homebuyers. About 15 percent of new loans for home purchases are insured by the FHA. The Department of Housing and Urban Development won't be able to provide any additional payments to the nation's 3,300 public housing authorities during the shutdown, but those authorities should have enough money to continue providing rental assistance through the end of December.

WEATHER

The National Weather Service is forecasting weather and issuing warnings while the National Hurricane Center continues to track storms. The scientific work of the U.S. Geological Survey has been halted.

LAW ENFORCEMENT

The FBI estimates that about 80 percent of its 35,000 employees are working and says it is prepared to meet any immediate threats. However, activities are suspended for other, longer-term investigations of crimes. Training and other support functions have been slashed.

MILITARY

The military's 1.4 million active-duty personnel remain on duty. About half of the Defense Department's civilian employees were furloughed, but Defense Secretary Chuck Hagel ordered nearly all 350,000 back on the job. Congress has ensured $100,000 payments to families of fallen service members would continue, passing a bill signed by President Barack Obama on Thursday. The payments had been suspended during the shutdown, prompting the Fisher House Foundation to volunteer to make the payments until the program got up and running again.

The military has also stopped providing tuition assistance for service members taking college courses during off-duty hours.

VETERANS SERVICES

Veterans are still able to get inpatient care at hospitals and mental health counseling at vet centers and outpatient clinics because Congress approved funding for VA health care programs one year in advance. Operators are also staffing the crisis hotline. The VA says its efforts to reduce the backlog in disability benefit claims have been stalled because claims processors are no longer being required to work 20 hours of overtime per month. Access to regional VA offices has been suspended, making it harder for veterans to get information about their benefits and the status of their claims. If the shutdown continues into late October, the VA warns that compensation and pension payments to veterans will be halted.

NATIONAL SECURITY

The CIA furloughed a "significant" but undisclosed number of workers when the shutdown began. A week later, CIA Director John Brennan said he would begin bringing back employees deemed necessary to the CIA's core missions of foreign intelligence collection, analysis, covert action and counterintelligence. He said continuing dramatically reduced staffing levels posed a threat to the safety of human life and the protection of property.

___

Associated Press writers Kevin Freking, Sam Hananel, Joan Lowy, Matthew Daly, Frederic J. Frommer, Andrew Miga, Hope Yen, Deb Riechmann, Lauran Neergaard, Dina Cappiello, Pete Yost, Stephen Ohlemacher, Lolita C. Baldor, Jesse J. Holland, Seth Borenstein, Mary Clare Jalonick, Alicia A. Caldwell and Kim Hefling contributed to this report.


18.38 | 0 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger