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Saturday, January 7, 2012
Asus Transformer Prime Review: The Android Tablet You've Been Waiting For [Video]
Friday, January 6, 2012
Defending Africa Open champion Louis Oosthuizen ready to deliver despite imminent arrival of second child
The new European Tour season kicks off on Oosthuizen?s home soil in South Africa at the East London Golf Club on Thursday with the 2010 Open winner looking to retain the title he won in a play-off a year ago.
The 29 year-old is perhaps under even more pressure this time around, with his wife Nel-Mare expecting their second child.
?It is fun defending a title so I hope the week runs smoothly and that I don?t get a phone call telling me to come home,? Oosthuizen said.
?But sometimes it?s good to have your thoughts elsewhere and not solely on the golf. I?ll be focused on what I have to do on the course but I?ll always be mentally checking on what?s going on at home.?
Oosthuizen insists last year?s win was particularly special.
?Obviously winning The Open was a dream come true for me but it was always a dream of mine as well to win a co-sanctioned tournament on The European Tour back home in South Africa,? he said.
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Thursday, January 5, 2012
What European debt means to US banks
Type "European debt crisis" in Google's search engine, and you will see about 30 million hits. Experts in government, business, banking and academia have a lot to say about debt issues in Europe -- and so do concerned members of the populace. What does it all mean to U.S. consumers? In this interview, Robert Sicina, executive in residence at the American University Department of International Business, discusses how this crisis has the potential to cause a double-dip recession in the U.S., how the U.S. needs to change its economic game plan to stay in the game at all and more.
What is the significance of European debt issues on the economy in America?
There is a very real risk the debt issues in Europe might result in a double-dip recession in the U.S. Our recovery is both anemic and fragile. If the European Union goes into a recession and therefore buys less of our goods, that could tip us over the edge into another downturn.
What are the odds of a global credit event, like what was seen in 2008 following the failure of Lehman Brothers, resulting from Europe's debt crisis?
A Lehman-like event is quite unlikely. Lehman led to a freezing of the credit markets -- banks would not lend to each other -- because the risks banks had assumed, mostly with credit default swaps, were opaque to their counterparty banks. Institutions didn't know the level of risk (losses) their banking counterparties had assumed.
The risks the banking system has assumed with the European credit crisis are large but transparent. Furthermore, government officials seem to have learned from the '09 credit crisis that the need to step in quickly to backstop the banking system is critically important to the health of the economy.
What steps should the supercommittee have taken to prevent a similar crisis from eventually occurring here in the U.S.?
The committee needed to step up to the challenge of compromise and create a package of spending cuts and tax increases to put us back on a track toward reality. We are living beyond our means. The committee needed to address that reality and respond to their responsibility to govern rather than stand on rigid principle.
In your opinion, what aspect of Europe's debt situation is significant to U.S. consumers but isn't getting enough attention?
We need to accept that we have been living in the same kind of unrealistic circumstances as Greece and Italy. We have to accept a balanced set of budget cuts and tax increases that, painful though they may be, will bring us back to the reality of living within our means. If we don't get back to a better alignment of government revenues and expenses, there is a very real risk we will drift, over time, toward the path of Italy that had among the lowest growth rates in the world over the last 10 years, just above Haiti and Zimbabwe.
Special thanks to Robert Sicina, executive in residence at the American University Department of International Business, for sharing his insights in this interview.
Source: http://www.bankrate.com/finance/federal-reserve/what-european-debt-means-to-us-banks.aspx
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Greece: Clinch bailout or face euro exit (Reuters)
ATHENS (Reuters) ? Greece will have to leave the euro zone if it fails to clinch a deal on a second, 130 billion euro bailout with its international lenders, a government spokesman said on Tuesday.
It was an unusually public stark warning from the embattled country, aimed at shoring up domestic support for tough measures and possibly also at the lenders themselves.
"The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro," spokesman Pantelis Kapsis told Skai TV. "The situation will be much worse."
Greece is racing against the clock to agree with the EU, the IMF and private bondholders on the details of the rescue plan before a major bond redemption in March. It risks a default if there is no deal by this date.
Athens and its EU partners have repeatedly ruled out a euro exit, which could drag the bloc even deeper into crisis, and usually avoid saying this is a possible scenario.
But top Greek officials, who need to push through unpopular reforms to clinch the bailout deal, have warned over the past few days that a return to the drachma would be "hell" and that the country must stick to austerity to avoid it.
EU, IMF and ECB inspectors are expected in Athens mid-January to flesh out the new bailout plan agreed in principle by EU leaders in October to avoid a Greek default and a euro exit.
Opinion polls show Greek voters want the government to do all it takes to stay in the euro even if they disagree with austerity reforms.
Asked if the government would have to take extra austerity measures to make up for last year's fiscal slippages, Kapsis said: "We will see. There could be a need for extra measures."
The talks with bankers on a debt swap deal that is a key aspect of the rescue plan are particularly difficult.
"The next three to fourth months are the most crucial and that is the reason this government exists," Kapsis said.
Prime Minister Lucas Papademos said in a New Year's Eve address over the weekend that Greece must stick to reforms to stay in the euro.
(Reporting by Karolina Tagaris and Ingrid Melander; Editing by Jeremy Gaunt)
Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/nm/20120103/wl_nm/us_greece
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Wednesday, January 4, 2012
Aviation in 1912: A Look Back in Scientific American 's Archives [Slide Show]
Web Exclusives |
Technology
The possibilities and promise of the nascent science and art of flight seized the imaginations of inventors and public. Here are some images from our magazine from a century ago
?| January 4, 2012?|
Image: Scientific American
The youthful Airplane Age was bursting with ideas and enthusiasm about this nascent technology. Here?s a look at the state of flight in 1912 from the archives of Scientific American.
? View the Aviation slide show.
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Source: http://rss.sciam.com/click.phdo?i=853c01c24a02770fd8a1ab95af8d3ab8
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California: Locke [1]
The United States is one of the most diverse countries on earth, jam packed full of amazing sights from St. Patrick's cathedral in New York to Mount Hollywood California.
The Northeast region is where it all started. Thirteen British colonies fought the American Revolution from here and won their independence in the first successful colonial rebellion in history. Take a look at these rolling hills carpeted with foliage along the Hudson river here, north of New York City.
The American south is known for its polite people and slow pace of life. Probably they move slowly because it's so hot. Southerners tend not to trust people from "up north" because they talk too fast. Here's a cemetery in Georgia where you can find graves of soldiers from the Civil War.
The West Coast is sort of like another country that exists to make the east coast jealous. California is full of nothing but grizzly old miners digging for gold, a few gangster rappers, and then actors. That is to say, the West Coast functions as the imagination of the US, like a weird little brother who teases everybody then gets famous for making freaky art.
The central part of the country is flat farmland all the way over to the Rocky Mountains. Up in the northwest corner you can find creative people in places like Portland and Seatle, along with awesome snowboarding and good beer.
Text by Steve Smith.
Source: http://www.360cities.net/image/nipigon
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Jersey Shore Sneak Peek: Lookin' Fabulous!
The Jersey Shore gang is back in Seaside once again.
This Thursday, January 5, we pick up right where we last left Snooki, Pauly D, Vinny, Sitch, JWoww, Sammi and Ronnie. The flew out of Italy and directly to N.J. with no break.
Probably not the best idea (see Season 5 trailer) but hindsight is 20/20.
After a red eye flight, the guidos and guidettes decided to their GTL on pronto! This new sneak peek from Thursday's season premiere shows the guys at the barber shop.
Is Vin trying out for the UFC? Did The Situation just make a small hole in the ozone layer with the amount of hairspray he used? You decide after the jump ...
Tuesday, January 3, 2012
US stock futures rise to begin new year (AP)
NEW YORK ? U.S. stock futures are rising after solid economic news, notably out of China, helped mute concerns over the European debt crisis.
Europe's debt woes will likely remain the main catalyst for markets over the coming days and weeks. But in the absence of any fresh bad news, trading in 2012 has got off to a fairly buoyant start.
About one hour before trading opens in New York, Dow futures were up 1.6 percent at 12,343. Futures for the broader Standard & Poor's 500 rose 1.6 percent to 1,272. The Nasdaq composite rose 1.7 percent to 2,313.75.
Surveys showing that China and India may be picking up momentum have helped shore the mood of investors.
It's a busy week on the economic data front, culminating in Friday's closely watched U.S. December employment report. That often sets the market tone for a week or two and investors will be keen to see if the recent improvement in the U.S. economic news is evident in the figures.
The consensus in the markets is that the U.S. economy generated another 150,000 or so jobs during the month ? solid, if unspectacular, jobs creation in the world's largest economy.
The reports kick off Tuesday with the December manufacturing survey from the Institute for Supply Management, which is expected to rise to 53.4 in December from the previous month's 52.7. Anything above 50 indicates expansion.
Investors will also be interested in the minutes from the last rate-setting meeting of the U.S. Federal Reserve. They'll look to see whether the central bank's outlook is less gloomy than before.
In Europe, Germany's DAX was up 0.6 percent at 6,113.06, but the CAC-40 in France was 0.8 percent lower at 3,196.67. Britain's FTSE 100 index of leading British shares, which was closed Monday, was trading 1 percent higher at 5,626.78.
Earlier, Asian stocks rose, with Hong Kong's Hang Seng Index, on its first trading session of 2012, jumped 2.4 percent to close at 18,877.41. South Korea's Kospi index rose 2.7 percent to 1,875.41 and Australia's S&P ASX 200 gained 1.1 percent at 4,101.20. Benchmarks in Japan and mainland China remained closed for the extended New Year's holiday.
Oil prices tracked equities higher ? benchmark crude for February delivery rose $2.07 to $100.90 a barrel in electronic trading on the New York Mercantile Exchange.
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