Diberdayakan oleh Blogger.

Popular Posts Today

Michael Jackson's Neverland Ranch may be on market soon

Written By Unknown on Sabtu, 02 Agustus 2014 | 18.39

Word on the real estate street via the fine folk at Forbes is that "Neverland Ranch," the Los Olivos, CA, mega-estate where Michael Jackson lived in (in)famous, child-like splendor will soon be put on the market for an unrevealed price.

The crazy talented but terrifically troubled Mister Jackson decamped "Neverland" years before he died in 2009 but in its glory-days the 2,700-acre spread had a zoo with exotic animals and an full-blown amusement park where -- true story, children -- one of Your Mama's cuzzins used to drive the train.

There were rumors the estate's current owner, Colony Capital, considered subdividing and selling the property in order to recoup its investment as well as turning the property into tourism spot like Elvis's "Graceland" in Memphis (TN). However, the not easily accessed, semi-remote location not to mention the vehement local opposition nixed that notion before it really got off the ground.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


18.39 | 0 komentar | Read More

Concerts on Yahoo make best of industry struggles

LOS ANGELES — Sometimes the struggles of an industry can bring music to your ears. And your screens.

Live Nation's partnership with Yahoo to stream one live concert every day is a rare win for music fans. The series, which began with the Dave Matthews Band in mid-July, offers free, high-quality concert footage in a way that helps the companies providing it, since selling ads is more profitable than concert promotion.

The deal opens up a new revenue stream for Live Nation, which reported second quarter earnings Thursday that fell short on profit but beat Wall Street's revenue expectations. And for Yahoo, premium video ad prices could be a cure for its plunging display ad rates.

Concerts globally are having a down year as a larger number of big acts sacrifice their own tour dates to play at popular festivals like Coachella and Lollapalooza, according to an analysis by the trade magazine Pollstar. And while Live Nation's events are doing better than the industry overall, the company takes a tiny slice of concert proceeds even as it invests in improvements to apps and websites to attract more people.

On the Yahoo Screen app featuring the new Live Nation channel, advertisers like Kraft, Kellogg's, Citigroup and Sprint are running pre-roll advertising and in-stream overlays. Given robust demand for the commercial time, Live Nation CEO Michael Rapino told investors in May the streams would be "a positive revenue channel almost (from) day one." He went further Thursday, saying he expects to expand programming with Yahoo and other distribution partners to help accelerate advertising revenue growth.

Another beneficial element of the deal: Live Nation isn't paying for the rights to the content. Artists, whose incomes are hurting from a decline in digital downloads, are happy to allow their concerts to be streamed, mainly to promote future ticket sales and song downloads. Plus, the performers get to keep a copy of the show for re-use and DVD sales.

"We're getting paid in promotion and the fact we don't have to hire our own crew" to shoot the concert, said Brian Klein, manager of Los Angeles-based indie pop band Fitz & The Tantrums.

On August 20, John Legend will reprise Marvin Gaye's album, "What's Going On?" in concert at the Hollywood Bowl. Legend's manager Ty Stiklorious believes it might cost $500,000 to shoot such a one-time-only event. But in exchange for Legend receiving a copy of the recording in about a year, Yahoo will cover venue fees, songwriting royalties, crew wages and pay for the 50-piece orchestra that will accompany the R&B singer.

"They said they would do it regardless of all the issues and complexities around filming it," Stiklorious said. "We're so excited and happy."

Artist managers don't fear a loss of ticket sales, either. Attending in person is far different from watching from a couch or on a mobile device, they say. And usually, the event is already sold out or in a far-off location —like Justin Timberlake's upcoming Aug. 24 concert in Iceland.

Increasingly, Live Nation Entertainment Inc. is becoming an advertising business that uses concerts as its "content." While the company loses money putting on the concerts themselves, advertising and third-party sponsorships at venues have become its most profitable segment.

"Concerts, on paper, are very low-margin and as a result they have to push margin into other areas of the business," says Rick Tullo, an analyst with Albert Fried & Co. "Advertising is the big one."

Last year, Live Nation lost nearly a penny for every dollar it made in concert promotion revenue, which rose 17 percent to $4.52 billion. But it kept two-thirds of every dollar made from advertising, which climbed 15 percent to $284.7 million. Profit from advertising was nearly twice as big as profit derived from ticket-selling, which makes it even more important to the company as it seeks its first year of positive net income since 2004.

On the concert deal, Live Nation will split ad revenue 50-50 with Yahoo after Yahoo recoups the costs of shooting and producing the concerts.

For Yahoo, the deal helps bolster multiple areas of weakness: by paying for exclusive content, Yahoo hopes it can boost the price of ads. Prices for display ads, once Yahoo's mainstay, fell 24 percent last quarter, offset only by greater volume. Still, the result was an overall 4 percent drop in the company's revenue to $1.14 billion.

"We've continued our focus on video with investments in unique premium content," Yahoo CEO Marissa Mayer told analysts on a conference call this month. "Fundamentally, premium content draws premium advertisers."

Now Yahoo just has to get concert lovers to tune in.

___

Online:

Yahoo Screen's Live Nation channel: http://yhoo.it/Ur8OQB

Follow AP Business Writer Ryan Nakashima on Twitter at: http://twitter.com/rnakashi


18.39 | 0 komentar | Read More

Car parts plant blast in China kills 65, hurts 100

BEIJING — At least 65 people were killed Saturday by an explosion at an eastern Chinese automotive parts factory that supplies General Motors, state media reported.

The blast at the factory in the city of Kunshan in Jiangsu province also left more than 100 people injured, with many suffering severe burns, the official Xinhua News Agency said. Kunshan is about 1,000 kilometers (600 miles) southeast of Beijing.

State broadcaster CCTV showed footage shot by residents of large plumes of thick, black smoke rising from the plant. News websites posted photos showing survivors or victims being lifted onto the back of large trucks, their bodies black presumably from burns or being covered in soot.

Some survivors were seen sitting on wooden cargo platforms on the road outside the factory, their clothes apparently burned off and skin exposed or being carried into ambulances.

The factory is operated by the Zhongrong Metal Products Company, a Taiwanese enterprise that according to its website was set up in 1998 and has a registered capital of $8.8 million. Its core business is electroplating aluminum alloy wheel hubs, the website says, while it supplies GM and other companies.

There were more than 200 workers at the site when the blast occurred, Xinhua cited the city government as saying. More than 120 people who were injured have been sent to hospitals in Kunshan and the nearby city of Suzhou.

A preliminary investigation has shown that the blast was likely a dust explosion, Xinhua said. Such an explosion is the fast combustion of particles suspended in air in an enclosed space. The particles could include dust or powdered metals such as aluminum. They would have to come into contact with a spark, such as fire, an overheated surface, or electrical discharge from machinery.

Calls to the city's government and police rang unanswered. A woman who answered the main phone line at the Zhongrong metal company refused to give any information and or the contact numbers of company staffers handling the case.

___

Associated Press researcher Henry Hou contributed to this report.


18.39 | 0 komentar | Read More

Obama: Congress left town with unfinished business

WASHINGTON — President Barack Obama says he's taking action on his own because Congress is doing so little for working families.

In his weekly radio and Internet address, Obama says the economy is improving. He says decisions made now can ensure things keep improving.

Obama says he's been pushing policies addressing jobs, student loans and wages. He says all of the policies would help families feel more stable, but all have been blocked by Republicans.

Obama says Congress left town for their August vacation with unfinished business. He says he hopes when lawmakers get back, Washington can join together in common purpose.

In the Republican address, Rep. Greg Walden of Oregon says Obama is disengaged when he should be leading. He says the midterm elections are a chance to deliver accountability.

___

Online:

Obama address: www.whitehouse.gov

GOP address: www.nrcc.org


18.39 | 0 komentar | Read More

Dow has worst drop since February: What happened?

Written By Unknown on Jumat, 01 Agustus 2014 | 18.38

The Dow Jones industrial average plunged 317 points on Thursday, wiping out its gain for the year. It was the biggest drop since February and gave the index a loss for July after five straight months of gains. Here are some questions and answers about the sell-off and what might come next.

Q: Why did the stock market fall?

A: A number of worries have been building for investors in recent weeks and several of them came together on Thursday. That prompted people to dump stocks, breaking several months of calm in the market. A number of large U.S. companies reported poor quarterly results or forecasts, including Whole Foods Market and Exxon Mobil. Tensions are escalating between Russia and the West, threatening Europe's economy and energy needs, and the Federal Reserve is getting closer to ending its powerful economic stimulus program. Also, the market has gone for an unusually long time without a significant pullback.

Q: How bad was it?

A: The Dow, an index of 30 large U.S. stocks, had its worst day in almost six months. The Standard & Poor's 500, a broader measure of the market and the benchmark for many index funds, lost 2 percent, its worst one-day decline since April. The S&P 500 index is still up 4.5 percent for the year and closed at a record high just one week ago. The Dow is slightly negative for the year.

Q: Does this mean the stock rally is over?

A: Not necessarily. Company earnings, one of the most important drivers of stock prices, are still at record levels and are expected to grow by 8.6 percent in the second quarter, according to S&P Capital IQ. That compares to growth of 4.9 percent in the same period a year ago and 3.4 percent growth in the first three months of this year. Also, the market has bounced back from other big drops this year. The S&P 500 slumped 3.6 percent in January but rose steadily for five months after that.

Q: What comes next?

A: The next order of business for investors is the monthly jobs report coming out Friday morning at 8:30 a.m. Eastern time. Investors will be looking to see if U.S. employers are adding enough jobs to suggest that the economy is picking up momentum. They'll also be looking for signs that wages are growing, which might suggest that the Federal Reserve could move sooner than expected to raise interest rates in order to stave off inflation. Stock investors don't like higher interest rates because it makes it more expensive for companies to borrow money and invest in their business.


18.38 | 0 komentar | Read More

GM boosted June sales with discounts to dealers

As General Motors prepares to report monthly sales results on Friday, a look its numbers from June show just how intent the company is on keeping new-car sales on the rise during a record spate of safety recalls.

The Detroit automaker has recalled nearly 30 million cars and trucks this year, including some models that had barely rolled off the assembly line. Yet sales have been resilient, up 2.5 percent through the first six months of the year.

In mid-June, however, the automaker was headed for a year-over-year monthly sales decline, according to data compiled by automotive research firms. Then, on June 20, GM asked dealers to buy more cars, and it threw in another $1,000 in discounts per vehicle, five dealership representatives told The Associated Press. The company finished the month with a 1 percent gain.

The dealers said they were asked to buy the cars for a rental program, one that provides loaner cars for people whose vehicles are being serviced. When they buy the cars for the program, GM counts them as a retail sale. It's a longstanding practice used by nearly all automakers to boost sales results.

At GM, though, the incentive was unusually generous and came as GM executives try to steer the company through the worst safety crisis in its history, including the recall of 2.6 million small cars with defective ignition switches tied to at least 13 deaths. The company has allayed investor fears by saying that recalls have actually helped sales by bringing in customers who see vastly improved new models.

"Clearly the timing seems a little suspicious," said Jesse Toprak, senior analyst for the Cars.com website who predicted on June 22 that GM sales would be down 7 percent for the month, compared with a 2 percent decline for the rest of the industry. "Retail numbers at that point did not show any kind of strength." The industry eked out a 1.2 percent gain for the month.

GM spokesman Jim Cain confirmed that offers were made to dealers, but wouldn't give details. He said GM needed to make more models available as loaners for those whose cars are being recalled. As part of its small-car ignition switch recall, GM is offering free loaners to owners. But dealers have run short of cars for the program and have been forced to rely on rental car companies, which can loan out cars from competing brands.

GM has issued more than 83,000 loaner cars since the recalls started in February. But CEO Mary Barra said last week that it had fixed about 550,000 of the small cars, so the need for loaners was waning.

The automaker won't say how many vehicles were purchased by dealers in June. After about two months, the loaners are resold as used cars because of the miles on them, but buyers get low-interest financing and other incentives offered to new-car buyers, said the dealers, most of whom asked not to be identified for fear of reprisals from the company.

"There was a heavy push on an incentive program that increased sales," one dealer said. "If they don't have the volume they want, they'll come out to the dealers."

GM's U.S. sales rose 2.5 percent in the first half of the year, lagging the overall market's 4.3 percent gain.

Some dealers downplayed the importance of the discounts. Mike Marone, chief operating officer of AutoNation Inc., the country's largest dealership chain, said AutoNation bought a small number of discounted vehicles for its loaner fleet. But he didn't think the sales had a large impact on GM's numbers.

"I don't think it's as big a deal as it may sound," he said.

Marone and other dealers said other automakers also offer similar late-month discounts in order to juice sales and improve monthly numbers. Some make the offers every few months.

Some dealers worry that if GM continues to make similar end-of-the-month offers, the influx of used cars into the market will hurt resale values and new-car sales.

GM's Cain said that even without the sales to dealers, GM would have beaten analysts' sales expectations in June. Before the month ended, many analysts predicted GM sales would fall at least 6 percent. The loaner program, he said, has helped boost GM's reputation for customer service.

"That has been very important during the recalls that we have had, to be able to put customers into new GM vehicles and not have to force people into a Ford Focus," Cain said.

Sales at GM and the rest of the industry are expected to improve in July. Edmunds.com expects an 11.1 percent increase in total sales, with GM up 10.6 percent. When all the numbers are in late Friday, it may wind up being the industry's best July in eight years, Edmunds predicted.

GM's stock price has dropped nearly 16 percent since the start of the year. It had been trading around $37 recently, but began falling last week as GM announced that recall costs had dramatically cut into earnings. The shares closed Thursday at $33.82.


18.38 | 0 komentar | Read More

Whole Foods lowers sales projections; shares slip

After a series of disappointing earnings reports, executives for Whole Foods Market hoped Wednesday's quarterly numbers would win back favor from investors.

But while the Austin, Texas-based natural foods grocer did beat some Wall Street expectations for its fiscal third quarter, the company also missed on its same-store sales projections and lowered its sales forecast for the rest of the year.

The combination sent Whole Foods' stock downward in after-hours trading. Shares fell as much as 7 percent shortly after the earnings report, but the stock stabilized closer to the $37.94 mark, down $1.17, or 3 percent from Wednesday's close.

Whole Foods has grown into one of Austin's highest-profile companies. The retailer has 388 stores in the U.S., Canada and Europe and has about 2,800 employees in Central Texas and 84,000 worldwide. The company reported quarterly revenue of $3.4 billion, a record total that was a 10 percent increase from the same quarter a year ago and above Wall Street expectations. The company had earnings per share of 41 cents, above 38 cents reported during the same quarter a year ago and above expectations of 39 cents per share.

However, the retailer posted lower same-store sales growth, a key metric closely watched by Wall Street. Same store sales rose 3.9 percent for the third quarter, which was well below the company's projections of 5 percent to 5.5 percent. The retailer also cut its future outlook for same-store sales.

The slowdown, said co-CEO Walter Robb, was a result of a number of factors, including cutting prices and new Whole Foods stores dragging on older locations.

It "reflects continued headwinds from our value efforts, cannibalization, competition and the economy," Robb told analysts and investors in a conference call following the earnings release.

After years as the leader in natural foods, Whole Foods has seen traditional supermarkets, big-box stores and online retailers step up their organic and natural offerings.

The retailer laid out several new initiatives to combat its growing landscape of competitors. Those include a new delivery and pickup service in at least a dozen major markets, an online subscription grocery service, the company's first national advertising campaign this fall and plans to "refresh" some of its older stores.

Robb said the retailer's business model continues to show positive signs, with "industry-leading" sales per gross foot, healthy returns and strong operating cash flow. Whole Foods has also seen more signs of stability in sales trend, Robb said.

Ahead of Wednesday's earnings report, investors had been hopeful, as Whole Foods stock closed up up $1.43, or 3.8 percent to $39.11. The stock also saw heavy trading, with 15.6 million shares trading hands, more than twice the company's average volume.

After it reported disappointing second quarter earnings in May, Whole Foods shares had taken a beating, falling to a more than two-year low. Before the May earnings report, the stock's 52-week low was $45.43.

During a testy May conference call with analysts, Robb and co-CEO and co-founder John Mackey faced questions over what the retailer was doing to combat increasing competition. Analysts said it was time to detail a more specific plan to fight competitors than just one focused on growth.

On Wednesday, Robb said with new initiatives in hand, including price cuts and competitive price matches, Whole Foods will be looking at robust growth over the long term.

"While the current environment is very dynamic and competitive, we are managing and growing our business for long term," Robb said. "We are not suggesting a race to the bottom, but rather a thoughtful, strategic, surgical approach to improve our relative value positioning."

———

©2014 Austin American-Statesman, Texas. Distributed by MCT Information Services

Visit Austin American-Statesman, Texas at www.statesman.com


18.38 | 0 komentar | Read More

States remind Market Basket of workers' rights

BOSTON — Massachusetts and New Hampshire officials are telling the Market Basket supermarket chain they'll be looking out for the legal rights of any workers fired in a protest over the family-owned company's leadership.

Attorneys General Martha Coakley and Joseph Foster also urged the company Thursday to consider its impact on other businesses in the region, where it employs about 25,000 and has 71 stores.

Co-CEOs Felicia Thornton and Jim Gooch said they "hope sincerely" not to fire anyone and they'll follow the law. They said Wednesday workers off the job demanding the return of fired CEO Arthur T. Demoulas must return by Monday.

Demoulas' supporters have held protest rallies and shut down deliveries to stores.

The company's board is evaluating buyout offers, including one from Demoulas. He was fired by the board which is controlled by his cousin.


18.38 | 0 komentar | Read More

Non-compete reform left out of final bill

Written By Unknown on Kamis, 31 Juli 2014 | 18.38

Discussions at BostonHerald.com are powered by Disqus, a commenting system that gives you the ability to voice your thoughts and share your opinions with other readers.

You are required to provide at least an email address to comment on our site, and you can comment by connecting your Disqus, Facebook, Twitter or Google Plus accounts also. Comments not associated with a verified account will be held for review, so to keep the conversation flowing, you'll want to use one of the verified methods.

You can now respond directly to a specific comment by clicking "reply." All conversations stemming from one comment will have their own thread, making discussions neater and more focused. You can also vote specific comments up or down, and share them more easily on your favorite social network. Clicking "newest" in the top left of the discussion panel also sorts comments by newest, oldest, or best-rated.

Disqus has a help section and knowledge base if you'd like to learn more.

Happy Commenting,

The Boston Herald staff


18.38 | 0 komentar | Read More

Sony lifts first quarter profits, but estimates $488 million loss for year

TOKYO -- Troubled electronics giant Sony has flummoxed nay-saying analysts with a rise in six-fold increase in net income in the three months to June of JPY26.8 billion ($261 million).

For the April-June period total sales advanced by 6% to $17.9 billion and the company also recorded a JPY34.3 billion operating profit rise year-on-year, to 69.8 billion yen ($691 million). which it attributed to stronger earnings in the Games & Network Services division.

But the Japanese giant said that it continued to forecast a net loss of JPY50 billion ($488 million) for the full year.

Sony has been aggressively restructuring, selling off its Vaio PC business, hiving off its loss-making TV division into a separate, wholly owned company and unloading company real estate.

The 'pictures division,' which Sony has been under pressure to sell and where there has recently been a spate of high profile executive exits, recorded an operating profit of JPY7.8 billion ($76 million), more than double the 3.7 billion yen ($36 million) reported in the first quarter of FY2013. Sony cited the strong worldwide gross of "The Amazing Spider-Man 2" and "22 Jump Street" and said the result was flattered by comparison with a quarter which included the theatrical under-performance of "After Earth."

The Games & Network Services segment squeezed out an operating profit of JPY4.3 billion ($42 million), an improvement compared with the JPY16.4 billion ($159 million) loss recorded in Q1 of last year. Strong sales of PlayStation 4 consoles, as well as rising revenues from game-related network sales nearly doubled sales year-on to JPY258 billion ($2.5 billion).

The key Home Entertainment & Sound segment, which includes television set manufacturing, reported a gain in operating profit, from JPY3.4 billion ($33 million) to JPY7.7 billion ($75 million) year-on. Interest in World Cup soccer games helped boost TV sales 10% year-on to JPY205 billion ($2.03 billion).

The Mobile Communications division, which has been targeted as a future profit center, ended the quarter with an operating loss of JPY2.7 billion ($26 million), down from a profit of JPY12.6 billion ($122 million) the previous first quarter. Sony blamed the slide on higher marketing and R&D expenses, as well as other factors.

In May Sony predicted that it would earn $254 million from sales of 50 million smartphones in the current fiscal year, compared with sales of $39.1 million in FY 2013. It now sees a slippage in annual sales, especially in emerging markets, however, and operating profit for the segment is expected to total zero.

Currency movements also boosted the group's top revenue line by 3% when expressed in Japanese Yen.

For the full year the group left unchanged its forecast for the pictures division at revenues of JPY880 billion (US$8.6 billion), with operating income of JPY65 billion (US$635 million). In 2013-2014 the division delivered revenues of JPY830 billion and income of JPY51.6 billion.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


18.38 | 0 komentar | Read More

Chili Pepper Chad Smith picks up Venice pied-a-terre

  • BUYER: Chad Smith
  • LOCATION: Venice, CA
  • PRICE: $2,755,000
  • SIZE: 2,800 square feet, 3 bedrooms, 3.5 bathrooms

YOUR MAMA'S NOTES: Several of the Red Hot Chili Peppers have been in the mood to change up their residential property portfolios lately. Last summer lead singer Anthony Kiedis coughed up $3.65 million for a bolthole just above the Sunset Strip and in early July of this year, bass player Michael "Flea" Balzary slapped a $6.8 million price tag on his historic hillside compound in L.A.'s Los Feliz area. Just a few weeks later drummer Chad Smith quietly shelled out $2,755,000 for a boxy and glassy newly constructed contemporary pied-a-terre on a prime, tree-lined street in still kinda gritty but decidedly chic and trendy Venice, CA,

Digital marketing materials describe the brand-spanking new and approximately 2,800-square-foot dwelling as a "prestigious eco-architectural statement" clad in horizontal white oak planks and set behind a high fence and locked gate. The three bedroom and 3.5 bathroom house has airy, open plan interiors spaces finished with honed concrete floors, modern art-hungry white walls and wide banks of aluminum-framed sliding glass doors and windows

.A double-sided fireplace wrapped in reclaimed wood adds a bit of earthiness to the otherwise clean lined living spaces that benefit hugely from high ceilings -- they're a head-roomy 11-feet everywhere but the dining area where they soar thrilling to 25 feet. A four-stool snack counter at a wide center island divides the dining area from the white-on-white kitchen that's decked as per usual with top-grade stainless steel appliances.

A floating, open-tread staircase makes a straight shot to the second floor where are two guest/family bedrooms each have a private bathroom and. A cable-railed bridge links the stair landing to the street-facing master bedroom that includes a walk-in closet and super-tall aluminum-framed glass doors that open to a small private terrace. The roomy attached master bath has a two-sink floating vanity, soaking tub set in front of a huge single-pane window with sky roof and palm tree view and a separate shower set behind a singe piece of frameless glass.

The high-fenced and tree-shaded front yard is the primary outdoor living and entertainment area and includes a bit of concrete terracing that wraps around the living room and give way to some newly installed sod. Over in the corner second concrete terrace has a built-in fire pit.

The uncommonly talented 50-something year rock-n-roller -- he's produced seven children with four women, including four with his current architect wife, Nancy Mack -- likely purchased the property as an in-town pied-a-terre as he owns a much more substantial spread in the celeb-approved Point Dume area of Malibu that he bought in May 2006 for $8.6 million. The Smith family's much-coveted street is chock-a-block with famous folk including kinky-haired saxophonist Kenny G, Julia Roberts and Danny Moder. Maybe or maybe not consciously uncoupling Gwyneth Paltrow and Chris Martin recently shelled out $14 million for a both beloved and oft-heckled Bart Prince designed residence next door to the Smiths and aging magnificently supermodel Cindy Crawford and her handsome hubby Rande Gerber recently paid six million bucks for a dumpy fixer upper around the corner where they plan to build and sell and eco-minded LEED-certified house.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


18.38 | 0 komentar | Read More

As US economy accelerates, Fed remains cautious

WASHINGTON — After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year.

That was the general view of analysts Wednesday after the government estimated that the economy grew at a fast 4 percent annual rate in the April-June quarter. Consumers, businesses and governments combined to fuel the expansion. The government also said growth was more robust last year than previously estimated.

Whether the healthier expansion will lead the Federal Reserve to raise interest rates sooner than expected is unclear. The Fed offered a mixed message on the economy Wednesday: Growth is strengthening, and the unemployment rate is steadily falling. Yet by some measures, it suggested, the job market remains subpar.

A statement the Fed issued after a two-day policy meeting signaled that it wants to see further improvement before it starts raising its key short-term interest rate. It offered no clearer hint of when it will raise that rate.

Instead, the Fed reiterated its plan to keep short-term rates low "for a considerable time" after ends its monthly bond purchases. The Fed said it will slow the pace of its purchases by another $10 billion to $25 billion a month. The purchases, which have been intended to keep long-term borrowing rates low, are set to end in October. Most economists think a rate increase is about a year away.

The economy sprang back to life last quarter after a dismal winter in which it shrank at a sharp 2.1 percent annual rate. The government upgraded that decline from a previous estimate of a 2.9 percent drop. But it was still the biggest contraction since early 2009 in the depths of the Great Recession.

Last quarter's bounce-back reinforced analysts' view that the economy's momentum is extending into the second half of the year, when they forecast annual growth of around 3 percent.

The government also updated its estimates of growth leading into this year. They show the economy expanded in the second half of 2013 at the fastest pace in a decade and more than previously estimated. The revised data also show that the economy grew faster in 2013 than previously estimated, though more slowly in 2011 and 2012 than earlier thought.

The second quarter's growth in the gross domestic product — the total output of goods and services — was the fastest since a 4.5 percent increase in July-September quarter of 2013.

Paul Ashworth, chief U.S. economist at Capital Economics, said that given last quarter's rebound, he's boosting his estimate for growth this year to 2 percent, up from a previous 1.7 percent forecast. Ashworth said the economy's growth also supported his view that the Fed will be inclined to start raising rates early next year.

Ashworth is among a group of economists who think growing strength in the job market and the economy will prod the Fed to move faster to raise rates to make sure inflation doesn't get out of hand. Other economists have been predicting that the Fed would wait until mid-2015 to start raising rates.

The Fed revised the wording of its previous statement to note that while the unemployment rate has dropped steadily, the job market is still struggling in other ways. It didn't specify what it meant. But Chair Janet Yellen expressed concern to Congress this month about stagnant wage growth, many part-time workers who can't find full-time jobs and the proportion of the unemployed who have been out of work for more than six months.

The GDP report showed that one measure of inflation rose 2 percent last quarter, up from a 1.3 percent rise in the first quarter. The Fed's inflation target is 2 percent, and for two years the GDP measure of inflation has been running below that level. Low inflation has given the Fed leeway to focus on boosting growth to fight high unemployment.

In its statement, the Fed noted that inflation had risen closer to its 2 percent target. The statement said concerns that inflation would run persistently below the Fed's 2 percent target had "diminished somewhat." But it expressed no worries about the slight acceleration in prices.

The economy's sudden contraction in the first quarter coincided with a severe winter that disrupted activity across industries and kept consumers away from shopping malls and auto dealerships. Consumer spending slowed to an annual growth rate of 1.2 percent, the weakest in nearly three years.

Last quarter, consumer spending accelerated to a growth rate of 2.5 percent. Spending on durable goods such as autos surged at a 14 percent annual rate, the biggest quarterly gain since 2009. Analysts said that was an encouraging sign of consumers' growing willingness to buy high-cost items like cars.

"Better job growth, a rising stock market, falling gasoline prices — all those things are starting to resonate on Main Street," said Stuart Hoffman, chief economist at PNC Financial Services Group.

Hoffman suggested that five straight months of job gains above 200,000 were buoying both consumer and business confidence. He predicted that the July jobs report, to be released Friday, would show job growth of around 225,000. Hoffman foresees growth of around 3 percent over the next year.

The government's revised estimates going back to 2011 show the economy expanded at an annual rate of 4.5 percent in last year's third quarter, up from a previous 4.1 percent estimate. The growth rate was 3.5 percent in the fourth quarter, up from an earlier 2.6 percent estimate.

For 2013 as a whole, the government said the economy grew 2.2 percent, up from its earlier 1.9 percent estimate.


18.38 | 0 komentar | Read More

Indian online retailer Flipkart raises $1 billion

Written By Unknown on Rabu, 30 Juli 2014 | 18.38

MUMBAI, India — India's largest online e-commerce company, Flipkart, raised $1 billion in new capital this week as the company gears up for competition with Amazon's push into the Indian market.

The company said the funds will be used to invest in expansion, especially in mobile technology.

Flipkart is sometimes called the Amazon of India. It was founded by Sachin Bansal and Binny Bansal, who worked at Amazon before returning home to India to start the online business.

Among the investors in the recent fundraising round are Singapore's sovereign wealth fund, GIC, along with existing investors Accel Partners, DST Blobal and Morgan Stanley Investment Management, the company said.

The funding will help the business develop into a "technology powerhouse," Flipkart said in a statement Tuesday.

Flipkart says it has 22 million registered users and handles 5 million shipments per month.

Amazon's India division has been making a big push into the country's small but fast-growing online retail market. It has been running front-page advertisements in newspapers and touting one-day delivery.

Flipkart itself recently acquired Indian online fashion retailer Myntra to strengthen market share.

India's Finance Minister recently announced plans to allow 49 percent foreign investment in e-commerce, paving the way for Indian companies to gain more support from abroad.


18.38 | 0 komentar | Read More

Stephen A. Smith suspension exposes ESPN's bigger problem

ESPN has a problem. It wants to be in the thick of things, to be part of every major debate pertaining to sports. But its commentators and analysts - rooted as they are in trade deadlines and X's and O's - can be loose cannons, occasionally getting in over their heads when pressed to address topics that go beyond their areas of expertise.

Stephen A. Smith - suspended for his remarks about domestic violence pertaining to the NFL's questionable action regarding Baltimore Ravens running back Ray Rice - is just the latest to engender controversy in one of these scenarios.

First, Smith awkwardly suggested that women can play a role in provoking situations of domestic violence. Then he began apologizing and seeking to clarify those remarks via Twitter. Then he went on air and apologized some more. And then ESPN still opted to discipline him.

But the channel can't really have it both ways. If the goal is to be provocative - and those participating in these free-for-alls are, inevitably, encouraged to be colorful and bicker - it only stands to reason people are occasionally going to say questionable or offensive things, especially when tackling hot-button political issues.

At this point, it's hard to keep track of all the flare-ups. There was basketball analyst Chris Broussard expressing his faith-based disapproval of homosexuality in relation to Jason Collins becoming the NBA's first openly gay player. Rob Parker was suspended for questioning quarterback Robert Griffin III's "blackness." Mike Ditka called Jonathan Martin a "baby," saying he wouldn't want to coach him, for the bullying accusations that resulted in the NFL acting against Miami Dolphins teammate Richie Incognito. Elsewhere, another former coach, Tony Dungy, created headaches for NBC Sports with his comments about Michael Sam.

And so it goes. Athletes are people, after all, and thus the stories about them can be as ugly and troubling as anything humanity can dredge up. But a channel that obsesses so relentlessly over what city LeBron James calls home is often ill-equipped to do a quick pivot and deal with matters that touch on harassment (workplace or sexual), gay rights or race.

ESPN has taken some steps to bolster its journalistic bona fides, from hiring Keith Olbermann - who, love him or hate him, has a background in covering news that goes well beyond the playing field - to columnist Jason Whitlock. For the most part, though, the network is too often left relying on whoever's available to cover the story of the moment - a prisoner, like virtually everyone else, of the vagaries of the 24-hour news cycle.

Corporate justice is never dispensed with complete uniformity in these instances, and one can argue till the cows come home about who made comments that merited a suspension and who didn't.

The bottom line, though, is that if ESPN continues to cover the breadth of sports in all its messy, complicated glory - and expects to do so by featuring people who spend most of their time preoccupied with the minutia of the game - well, let's just say the PR department should keep several versions of a boilerplate apology on file, just in case.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


18.38 | 0 komentar | Read More

Market Basket managers turn up heat on chain

BOSTON — Managers of Market Basket supermarkets are repeating their threat to quit if ousted CEO Arthur T. Demoulas is not reinstated.

A petition signed by managers and assistant managers of 68 of the 71 New England stores warns that they will immediately resign if Demoulas is not restored "with full authority." They planned to deliver the petitions to co-CEOs James Gooch and Felicia Thornton.

The board of Market Basket, controlled by his cousin Arthur S. Demoulas, fired Demoulas in June. Employees loyal to Arthur T. have since held protests and refused to make warehouse deliveries to stores.

The board said Tuesday it was continuing to evaluate several offers to buy the supermarket chain among other "strategic alternatives."

The board said an offer from Arthur T. Demoulas is one of several options.


18.38 | 0 komentar | Read More

US economy likely showed big rebound last quarter

WASHINGTON — After a dismal start to the year reflecting a harsh winter, the U.S. economy showed signs of rebounding in the spring, with many forecasters expecting growth to be even stronger in the second half of the year.

The government on Wednesday will provide its first estimate of how much the gross domestic product — the economy's total output of goods and services — grew in the April-June quarter. The consensus forecast is that the economy expanded at an annual rate of 2.9 percent, according to a survey of economists by data firm FactSet.

That would mark a dramatic rebound from the January-March period, when the economy shrank at an annual rate of 2.9 percent. It was the biggest contraction since the depths of the recession five years ago.

Normally, such a plunge in economic activity would arouse fears about a recession. But analysts have largely dismissed this year's stumble as the result of a set of adverse developments that should be temporary.

The biggest culprit: An unusually severe winter, which depressed consumer spending by keeping shoppers away from malls and auto showrooms and disrupted other activities such as factory production.

With warmer weather, consumer spending is expected to recover. The economy should also get a boost from stronger residential activity, less of a cutback in business stockpiling and a rebound in business capital spending on new equipment.

"The economy is bouncing back from a terrible first quarter," said Brian Bethune, an economics professor at Tufts University.

Still, with the rocky start to the year, analysts have marked down expectations for all of 2014. A recent survey of top forecasters with the National Association for Business Economics estimated growth for all of 2014 at a sluggish 1.6 percent, even slower than last year's 1.9 percent growth.

But many analysts think the economy is on the verge of an acceleration after subpar annual growth rates of around 2 percent through the first five years of recovery from the Great Recession, which officially ended in June 2009.

Mark Zandi, chief economist at Moody's Analytics, said he thinks growth could accelerate to above 4 percent in 2015. He said he expects support from continued solid gains in hiring, which should translate into strength in consumer spending. Employers have added at least 200,000 jobs for five straight months — the best such stretch since the late 1990s tech boom.

"I think we are finally going to start seeing more wage growth and that should kick the economy into high gear by late 2015," Zandi said.

When the Federal Reserve ends a two-day meeting Wednesday, analysts think it will keep a key short-term rate at a record low near zero for the rest of this year and into 2015. The first rate increase is expected by mid-2015, after the economy and job market strengthen further.


18.38 | 0 komentar | Read More

Asia stocks rise modestly ahead of US, China data

Written By Unknown on Selasa, 29 Juli 2014 | 18.38

SEOUL, South Korea — Asian stock markets posted modest gains Tuesday as investors treaded cautiously ahead of U.S. and Chinese economic reports later this week.

KEEPING SCORE: Japan's Nikkei 225 added 0.5 percent to 15,604.80 and South Korea's Kospi rose 0.6 percent to 2,061.95. Hong Kong's Hang Seng inched up 0.2 percent to 24,483.85 while China's benchmark Shanghai Composite gained 0.1 percent to 2,180.52. Australia's S&P/ASX 200 was down 0.1 percent to 5,570.90. Markets in India, Indonesia and Malaysia were closed for holidays.

EARNINGS: Companies are in the middle of corporate earnings season. Later Tuesday, Japanese carmaker Honda will report its quarterly financial results after the market close. Asian tech heavyweights Samsung Electronics Co. and Sony Corp. will release their quarterly financial results on Thursday.

ANALYST TAKE: William Leys, sales trader at CMC Markets, said markets were calm before the data storm, forecasting that trading volume would become heavier toward the end of this week. "Caution is the pre-eminent theme across global markets at the moment, as investors anticipate a spate of key economic data due later in the week, amid a backdrop of persistent geopolitical concerns," Leys said in a commentary. "With a variety of weighty announcements looming, the stage is set for an action packed end to the week."

DATA RUSH: On Wednesday, the U.S. will release gross domestic product figures for the April-June quarter. The world's largest economy is expected to pick up after severe cold in the winter dampened growth the previous quarter. The Federal Reserve is scheduled to issue a statement after wrapping up a two-day policy meeting on Wednesday. On Thursday, a report on China's manufacturing industry will give investors an update on the health of the world's factory floor. On Friday, the U.S. will release its monthly jobs data. Analysts estimate that the U.S. labor market added between 235,000 and 255,000 jobs in July.

RUSSIA SANCTIONS: Tensions between Russia and the West may resurface as the West is expected to slap another round of sanctions against Russia. On Monday, the White House said the United States and European Union plan to impose new sanctions against Russia this week, including penalties targeting key parts of the Russian economy. The EU had previously refrained from stepping up sanctions in the wake of the shooting down of a Malaysian jetliner over a rebel-controlled region of Ukraine, killing 298 people.

DOLLAR DEALS: There was upbeat and downbeat news from the U.S. trading day but it didn't get much traction in Asian markets. Discount store chain Dollar Tree said it was buying rival chain Family dollar and real estate listing service Zillow announced a deal to takeover Trulia, also in the property listing business. The National Association of Realtors said its index of U.S. pending home sales, a barometer of future purchases, slipped 1.1 percent to 102.7 in June. The contraction was bigger than forecast and indicated a cooling of the real estate market this summer.

CURRENCIES, OIL: The euro retreated slightly to $1.3434 from the previous session's $1.3439. The dollar drifted higher to 101.94 yen from 101.84 yen. The price of oil dipped, with benchmark U.S. crude for September delivery down 34 cents to $101.33 a barrel.

WALL STREET: U.S. stocks were little changed on Monday with the Dow Jones industrial average up 0.1 percent to 16,982.59 and the Standard & Poor's 500 index closing at 1,978.91, nearly unmoved. The tech-heavy Nasdaq composite index slipped 0.1 percent to finish at 4,444.91.


18.38 | 0 komentar | Read More

Honda's quarterly profit up on Asian sales growth

TOKYO — Honda's quarterly profit surged nearly 20 percent on demand for remodeled cars in Japan and elsewhere in Asia. The Japanese automaker also raised its full-year profit and sales forecasts.

Honda Motor Co. reported a profit Tuesday of 146.5 billion yen ($1.4 billion) for the April-June fiscal first quarter, close to what analysts surveyed by FactSet had forecast.

The automaker raised its annual profit forecast to 600 billion yen ($5.9 billion) from 595 billion yen ($5.8 billion), and its annual sales forecast to 12.8 trillion yen ($125.5 billion) from 12.75 trillion yen ($1215 billion).

Honda, Japan's No. 3 automaker, posted 574 billion yen profit on 11.84 trillion yen sales for the last fiscal year, which ended March 2014.

Demand was strong recently for Honda's new City sedan in India, Mobilio seven-seater in Indonesia and the remodeled Fit subcompact in Japan, helping lift quarterly sales 5 percent year-on-year to 2.988 trillion yen ($29.3 billion).

Honda, which sold 1.06 million vehicles in April-June, expects to sell 4.83 million vehicles for the fiscal year through March 2015.

The Tokyo-based maker of the Odyssey minivan and Accord sedan sold 4.32 million vehicles last fiscal year.

Japanese rival Nissan Motor Co., which reported a quarterly profit jump of nearly 37 percent on Monday, expects to sell 5.65 million vehicles this fiscal year, up 8.9 percent from the previous year.

Toyota, the world's top automaker, reports earnings Aug. 5.

Japanese automakers continue to do solid business in North America but have all embarked on an aggressive growth strategy in developing nations.

Honda is unique compared with Nissan and Toyota for its powerful motorcycle division that makes a significant contribution to its earnings.

Honda sold 4.14 million motorcycles during the fiscal first quarter, up from 4.05 million the same period a year earlier.

___

Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama


18.38 | 0 komentar | Read More

Swiss bank UBS settles German case as profits rise

GENEVA — Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by strong results from its core wealth management business and trimmed-down investment banking franchises despite a tough market environment.

UBS said its net profit for the April-June period rose to 792 million Swiss francs ($876 million) from 690 million francs in the comparable period in 2013.

The Zurich-based bank also said it had settled an investigation in Germany of charges that the bank aided German clients suspected of evading taxes. UBS made a payment of about 300 million euros ($403 million) to put the case to rest, one of a number that it and other Swiss banks have been facing from U.S. and other foreign tax authorities hunting down suspected tax cheats.

The bank said its second-quarter results reflect 120 million francs it booked in the German case.

Prosecutors in the German city of Bochum confirmed the settlement. They said they expect also to close proceedings against individual bank employees in exchange for fines, and that in one case they have sought a 250,000-euro fine.

UBS's quarterly financial statement said all of its business divisions and regions delivered strong second-quarter operating performances, and that it continued to build its capital reserves in keeping with global and Swiss rules.

"We delivered strong underlying results in a market environment that remained challenging for our clients and the industry," Chief Executive Sergio Ermotti said.

Looking ahead, the bank said the outlook is clouded by challenges in Europe, where economic growth remains fragile and fiscal and monetary policy issues in the U.S., where the Federal Reserve is gradually tightening its stimulus taps. It also cited global geopolitical instability, with Western powers considering more sanctions on Russia and with fighting on the rise parts of the Middle East.

UBS shares slid 1.4 percent to 16.38 francs in Zurich trading.


18.38 | 0 komentar | Read More

Study: 35 percent in US facing debt collectors

WASHINGTON — More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects, said Caroline Ratcliffe, a senior fellow at the Washington-based think tank.

"Roughly, every third person you pass on the street is going to have debt in collections," Ratcliffe said. "It can tip employers' hiring decisions, or whether or not you get that apartment."

The study found that 35.1 percent of people with credit records had been reported to collections for debt that averaged $5,178, based on September 2013 records. The study points to a disturbing trend: The share of Americans in collections has remained relatively constant, even as the country as a whole has whittled down the size of its credit card debt since the official end of the Great Recession in the middle of 2009.

As a share of people's income, credit card debt has reached its lowest level in more than a decade, according to the American Bankers Association. People increasingly pay off balances each month. Just 2.44 percent of card accounts are overdue by 30 days or more, versus the 15-year average of 3.82 percent.

Yet roughly the same percentage of people are still getting reported for unpaid bills, according to the Urban Institute study performed in conjunction with researchers from the Consumer Credit Research Institute. Their figures nearly match the 36.5 percent of people in collections reported by a 2004 Federal Reserve analysis.

All of this has reshaped the economy. The collections industry employs 140,000 workers who recover $50 billion each year, according to a separate study published this year by the Federal Reserve's Philadelphia bank branch.

The delinquent debt is overwhelmingly concentrated in Southern and Western states. Texas cities have a large share of their populations being reported to collection agencies: Dallas (44.3 percent); El Paso (44.4 percent), Houston (43.7 percent), McAllen (51.7 percent) and San Antonio (44.5 percent).

Almost half of Las Vegas residents— many of whom bore the brunt of the housing bust that sparked the recession— have debt in collections. Other Southern cities have a disproportionate number of their people facing debt collectors, including Orlando and Jacksonville, Florida; Memphis, Tennessee; Columbia, South Carolina; and Jackson, Mississippi.

Other cities have populations that have largely managed to repay their bills on time. Just 20.1 percent of Minneapolis residents have debts in collection. Boston, Honolulu and San Jose, California, are similarly low.

Only about 20 percent of Americans with credit records have any debt at all. Yet high debt levels don't always lead to more delinquencies, since the debt largely comes from mortgages.

An average San Jose resident has $97,150 in total debt, with 84 percent of it tied to a mortgage. But because incomes and real estate values are higher in the technology hub, those residents are less likely to be delinquent.

By contrast, the average person in the Texas city of McAllen has only $23,546 in debt, yet more than half of the population has debt in collections, more than anywhere else in the United States.

The Urban Institute's Ratcliffe said that stagnant incomes are key to why some parts of the country are struggling to repay their debt.

Wages have barely kept up with inflation during the five-year recovery, according to Labor Department figures. And a separate measure by Wells Fargo found that after-tax income fell for the bottom 20 percent of earners during the same period.


18.38 | 0 komentar | Read More

New 'World News' anchor David Muir learned the ropes at WCVB-TV

Written By Unknown on Senin, 28 Juli 2014 | 18.38

David Muir brings solid credentials as a reporter to his new gig as anchor and managing editor of ABC News' "World News" flagship broadcast. He honed those skills during his 2000-03 stint as a reporter and anchor at one of the most respected TV stations in the country, Boston's ABC affiliate, WCVB-TV, owned by Hearst Television.

WCVB is well known for its investment in newsgathering and for producing informational and lifestyle programming. It's one of the few stations in the country to offer a locally produced newsmagazine-esque series, "Chronicle," in the lucrative 7:30 p.m. weeknight slot.

Execs at WCVB who knew Muir during his tenure in Beantown were not at all surprised by the news Wednesday of his promotion. Muir will succeed Diane Sawyer on the "World News" desk as of Sept. 2.

The pedestal occupied by Big Three network news anchors is not as high as it once was, but there's no denying that it remains one of the most coveted jobs in the TV news biz.

"David was going to be successful wherever he went," WCVB prexy-g.m. Bill Fine told Variety. "He got noticed around here pretty quick."

Muir, 40, grew up in Syracuse, N.Y., graduated from Ithaca College and spent five years as an anchor and reporter for his hometown WTVH-TV outlet before joining WCVB.

Moving from Syracuse (market No. 84) to Boston (market No. 7) was a big leap, but he had an on-air presence that won him the job, Fine said. Fine recalls being impressed by a clip of Muir in Syracuse when it was clear he was being pranked on-air by a caller.

"You saw him on-air realize what was happening and the way he handled it, even as a kid of 20 or 21, showed he was unflappable," Fine said.

At WCVB Muir was known as a tireless reporter who worked hard to get to know the city and its political and cultural landscape. He won a regional Edward R. Murrow Award for his work in tracking the path of the 9/11 hijackers on a story that struck close to home for Bostonians.

Muir was plucked for an overnight anchoring gig at ABC News after only three years at WCVB. But he has endeared himself to his former co-workers with his generosity.

"He has been very free to credit the folks who mentored him here," Fine said. "He has been extraordinarily gracious toward everybody here and what was passed on to him," Fine said. "He has also been masterful in the respect he's afforded Diane Sawyer. You don't see that kind of sensibility in everybody."

Muir joined ABC News in August 2003 and quickly became one of the Alphabet's most visible and globe-trotting reporters. He's demonstrated versatility by reporting on crises in global hotspots such as Somalia, Iran and Egypt and big domestic stories such as Hurricane Katrina and the 2012 presidential election. ABC also gave him some seasoning as a soft-news reporter with the "Made in America" series for "World News" highlighting small-town business success stories.

Muir has served as weekend anchor of "World News" since 2011 and co-anchor of Friday newsmagazine "20/20" since last year. He'll drop the weekend slots once he steps into the big chair, but he will continue on "20/20" with Elizabeth Vargas.


(c) 2014 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. DISTRIBUTED BY TRIBUNE CONTENT AGENCY, LLC.


18.38 | 0 komentar | Read More

Virus drugmaker fights pediatricians' new advice

CHICAGO — A costly drug given mostly to premature babies is at the center of a clash between the manufacturer and the nation's leading pediatrician's group, which recommends scaling back use of the medicine.

The dispute involves new guidelines from the American Academy of Pediatrics, which say medical evidence shows the drug benefits few children other than very young preemies. The medicine guards against a common but usually mild virus that can cause serious lung problems.

It's the second time in two years that the influential group has recommended narrowing use of the drug, sold by MedImmune under the brand name Synagis (SIN'-uh-jis). MedImmune is fighting back with full-page newspaper ads that say the updated policy threatens "our most vulnerable babies."

Synagis protects against RSV, or respiratory syncytial (sin-SISH'-uhl) virus, which infects nearly all U.S. children by the age of 2. For most, it causes only mild, cold-like symptoms. But it is also the most common cause of pneumonia in U.S. infants, and as many as 125,000 young children are hospitalized with RSV each year, according to the federal Centers for Disease Control and Prevention.

It was approved in 1998 for use in certain "high-risk" children, based on research showing benefits for certain children including premature infants born at 35 weeks or earlier. The pediatricians' group says it has sought to provide more specific guidance because the government's definition of high risk is vague.

The medicine is given in a series of seasonal injections costing thousands of dollars, and a recent lag in Synagis sales may explain MedImmune's tactics, which include recruiting parents to help tout the drug.

Sales for the first quarter of 2014 totaled $328 million, down 19 percent from $414 million in the same period last year, according to an earnings report from parent company AstraZeneca.

Company spokeswoman Alisha Martin said it placed full-page ads in The New York Times and several other newspapers because "we felt it important to inform parents — including the half-a-million women who give birth prematurely each year — of the decisions being made that could impact the lives of their children."

Studies show the drug can slightly reduce risks for being hospitalized but doesn't shorten hospital stays or lessen chances for long-term complications or death, said Dr. H. Cody Meissner, a member of an academy committee involved in drafting the new guidance and an infectious disease expert at Tufts Medical Center.

Advances in treatment for preemies in recent years make Synagis, also known as palivizumab (pah-lih-VIH'-zu-mahb), unnecessary for many, the academy says. Its new guidance recommends it only for: infants born before 29 weeks; older preemies with chronic lung disease and those with certain heart problems; and certain other at-risk children younger than age 2.

Healthy older preemies should not get the drug, the academy says in guidelines published online Monday. Its 2012 advice included use in some older, healthy preemies.

Melony Sorbero, a senior Rand Corp. researcher, has studied RSV said the academy's narrowed recommendations make sense based on scientific evidence of limited benefits.

MedImmune's newspaper ads say the new guidelines will leave about 140,000 infants born between 29 and 35 weeks "unprotected." The ads say: "Why put these babies at risk?" They include a photo of a tiny preemie hooked up to medical machinery.

A Washington, DC-area mother, Deb Discenza, has helped the drugmaker locate parents to participate in a MedImmune RSV awareness program and says she was paid for sharing information about her daughter's experience. Her daughter was born at 30 weeks, or about two months early, in 2003. The baby may not have qualified for the medicine under the academy's new guidance but her mother believes Synagis treatment that first year "is what saved us."

The little girl's doctor declined to offer the drug after she turned 1, and she developed asthma. Discenza believes Synagis might have prevented it.

She said her health insurance covered the shots, but she's among parents who worry coverage will be denied based on the new recommendations.

Susan Pisano, spokeswoman for the industry group America's Health Insurance Plans, says insurers consider medical groups' recommendations but that it's too soon to determine if the pediatricians' new advice will affect coverage decisions.

___

Online:

American Academy of Pediatrics: http://www.aap.org

RSV: http://www.cdc.gov/RSV/

MedImmune: http://www.Medimmune.com

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


18.38 | 0 komentar | Read More

US companies increasingly fish for growth overseas

SAN FRANCISCO — Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home.

Technology trendsetters Apple Inc., Google Inc., Facebook Inc. and Netflix Inc. all mined foreign countries to produce earnings or revenue that exceeded analysts' projections in their latest quarters. Prodded by the steadily rising demand for Internet access and online services in developing countries, these technology companies will likely be wading even deeper into overseas markets for years to come.

"The philosophy is to start your growth in the states and then take your fight overseas," says BGC Financial analyst Colin Gillis "That's what the big guys are doing."

The intensifying international focus extends beyond technology. Century-old companies such as Coca-Cola Co. and Ford Motor Co. also are hoping to make more money in countries including China and India.

Few U.S. industries are tying their fortunes to overseas markets as aggressively as the technology sector, where new sources of revenue are often just a matter of equipping people with a computing device and an Internet connection.

Soaring sales of iPhones in China, Russia, India and Brazil during the April-June period helped Apple overcome softening demand for the device in the U.S. and Europe, where consumers seem to be more interested in waiting for the autumn release of a new iPhone that's expected to feature a larger screen.

Google generated 58 percent of its revenue outside the U.S. in its second quarter, the highest level yet for the Internet's most powerful company.

Facebook already gets 55 percent of its revenue overseas, and the growth in those markets is outpacing by what's happening in the U.S. The social networking service has attracted 1.1 billion users in foreign markets versus 200 million in the U.S. and Canada.

Netflix's Internet video service added 1.1 million international subscribers, nearly doubling the number it gained in the U.S during the April-June quarter. The company expects the trend to continue as Netflix enters six more European markets, including France and Germany, in September.

Corporate profits will probably need to keep rising to sustain the U.S. stock market's record-breaking run. The Standard & Poor's 500 index has already climbed nearly 8 percent this year, well ahead of its average pace historically, while analysts expect earnings to increase 8 percent this year. Low interest rates and an improving economy have helped to create a climate of optimism, said Brad McMillan, chief investment officer at Commonwealth Financial.

"Everything is going well right now," McMillan said. "That's what's driving the market up."

Like many other money managers, McMillian isn't convinced companies will be able to live up to investors' high hopes.

Overall sales have been slow, and profit margins are at record levels after years of cost cutting. Those factors will make it tougher for companies to find ways to ratchet their earnings even higher.

The natural response for many companies? Look abroad because that's where most of the potential customers are. The U.S. population accounts for less than 5 percent of the world's roughly 7.2 billion people.

The U.S., though, still boasts the world's largest economy with a mass market of consumers who can afford more products and services than most other parts of the world. That means growth in other countries, especially in markets outside of Europe, Japan and South Korea, often isn't as lucrative as it is in the U.S.

Apple, which has always demanded premium prices, is discovering this as it sells more devices overseas. For instance, the iPhone's average selling price fell to $561 in Apple's most recent quarter, a 3 percent drop from a year ago and a 13 percent decline from $647 two years ago.

Google's growth in foreign markets outside Europe is one of the reasons that the company's average advertising prices have been falling for nearly three years.

Advertisers so far haven't been willing to pay as much to peddle their wares to consumers who don't have as much disposable income as people in the U.S.

Facebook is experiencing a similar phenomenon. The company reaped an average of $6.44 per user in the U.S. and Canada during the second quarter compared to just $2.84 per user in Europe, $1.08 per user in Asia and 86 cents per user in the rest of the world.

Although the company remains profitable overall, Netflix still isn't making money on an international expansion that began nearly four years ago. The company's international losses have exceeded $800 million so far, with more likely to come with the move into France and Germany looming.

Most publicly held companies are willing to endure short-term financial pain in return for what they expect will be a long-term gain in growth. That's one of the reasons Ford Motor is building four plants in China and two in India. By 2020, the automaker hopes Asia Pacific and the Middle East will account for one-third of its sales. The regions accounted for 22 percent of Ford's sales in the latest quarter.

Coca-Cola is looking abroad for growth largely because it's becoming tougher for beverage makers to increase revenue in a U.S. market already awash in soda and other refreshments. Things look much different in some large overseas markets where billions of people only recently have begun to develop a taste for the company's products. In 2012, for instance, the per capita consumption of Coca Cola's beverages was 403 servings of 8-ounce drinks annually in the U.S. compared to 39 annual servings in China and just 14 annual servings in India.

An increasing thirst for Coca-Cola products in China, India and the Middle East helped boost the company's international sales by 3 percent in the second quarter while volume remained flat in North America.

Even large U.S. companies that are growing faster domestically realize they need to keep pushing in countries where many consumers may not make enough money to buy their products yet. That's one reason General Motors CEO Mary Barra told analysts on a conference call last week that her company remains bullish on China, even though car sales there have been slowing.

"As the market grows, we need to participate in that growth...in a disproportionate fashion to make sure that we are seizing the opportunity," Barra said.

___

AP Business Writers Matthew Craft and Candice Choi in New York and AP Business Writers Dee-Ann Durbin and Tom Krisher in Detroit contributed to this story.


18.38 | 0 komentar | Read More

Sarah Palin launches online subscription channel

NEW YORK — Sarah Palin has started her own subscription-based online network.

The Sarah Palin Channel, which went live on Sunday, bills itself as a "direct connection" between the former Alaska governor and GOP vice presidential candidate and her supporters, with "no need to please the powers-that-be," Palin says in a video mission statement on her channel's home page.

"Are you tired of the media filters?" she asks. "Well, I am. I always have been. So we're gonna do something about it."

"We'll talk about the issues that the mainstream media won't talk about," she adds.

Palin says she oversees all content posted to the channel. This will include her own political commentary. Other features for subscribers include the ability to submit questions to Palin and participate with her in online video chats.

Membership is set at $9.95 per month or $99.95 for a year.

Palin remains active elsewhere as a Fox News Channel contributor and reality-TV personality.

The Sarah Palin Channel is part of the TAPP video platform, which launched earlier this year.

___

Online:

https://sarahpalinchannel.com


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