Tuesday, January 31, 2012

Weaker banks, commodities drag Britain's FTSE lower (Reuters)

LONDON (Reuters) ? Weakness in banks and commodity stocks dragged Britain's leading share index lower on Monday as the protracted search for a Greek bond deal and concerns about economic growth kept investors nervous.

The FTSE 100 (.FTSE) index closed down 62.36 points, or 1.1 percent, at 5,671.09, extending Friday's falls and retreating further from Thursday's six-month closing high.

The FTSE volatility index (.VFTSE) was also active, up over 10 percent, its biggest daily percentage rise in a month and signaling an increase in risk aversion.

Banks (.FTNMX8350) were the biggest blue-chip casualties, hit by concerns that extra liquidity injections from central banks had not addressed the sector's fundamental problems.

Credit Suisse reduced its recommendation on the European Banking sector to "underweight" as it said the direct earnings impact of the European Central Bank's (ECB) late-December splurge of cheap, long-term cash for the banks appeared to be over-estimated.

Barclays (BARC.L) was the UK sector's biggest faller, down 4.2 percent, while Lloyds Banking Group (LLOY.L) shed 4.1 percent, and Royal Bank of Scotland (RBS.L) fell 3.5 percent.

EU leaders met in Brussels on Monday, the first summit of 2012, to sign off a permanent rescue fund for the euro zone -- Britain's biggest trading partner -- though the meeting was overshadowed by the unresolved Greek debt problems.

To avoid a chaotic default, which could have grave ramifications for sentiment and financial systems across the globe, Greece must secure a deal with its private bond holders and persuade international lenders it is serious about reforms in order to secure much-needed cash.

Fresh tensions between Greece and the euro zone's biggest economy Germany over the weekend regarding the debt bail-out terms also knocked sentiment.

"This isn't the first time Greece has shown resistance to accepting certain EU bailout terms and conditions, and given their weak position they may need to concede again, otherwise risk defaulting on the debt repayments due in March," said Jordan Lambert, Trader at Spreadex.

U.S. blue chips (.DJI) were down 0.6 percent by London's close, also suffering on concerns over the Greek debt situation, and after further dull U.S. economic data.

U.S. consumer spending was flat in December as households took advantage of the largest rise in income in nine months to boost their savings, setting the tone for a slowdown in demand early in 2012.

COMMODITIES DIP

Weakness in commodity issues also weighed on blue chips in London, with a retreat in crude knocking the integrated oils (.FTNMX0530) as an expected Iranian vote to suspend crude exports to Europe was postponed, easing supply concerns.

Miners (.FTNMX1770) also moved lower in tandem with weaker metal prices, as softer-than-expected U.S. economic data fuelled concerns about demand levels.

Defensive stocks dominated on the short list of blue chip gainers, led by drugmakers, with AstraZeneca (AZN.L) and GlaxoSmithKline (GSK.L) up 0.6 percent and 0.5 percent.

AstraZeneca will post fourth-quarter results on Thursday.

Utilities were in demand, with energy generator International Power (IPR.L) up 0.6 percent, and power distributor National Grid (NG.L) ahead 0.5 percent. Both firms are due to issue trading updates later this week.

And chip designer ARM Holdings (ARM.L) gained 0.3 percent, with its fourth-quarter results due tomorrow.

(Reporting by Jon Hopkins; Editing by Will Waterman)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20120130/bs_nm/us_markets_britain_stocks

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Animals Get The Upper Paw, or Hoof, or Claw (preview)

Antigravity | More Science Cover Image: February 2012 Scientific American MagazineSee Inside

Every so often a critter takes a shot at making headlines


Image: Matt Collins

In journalism, there?s what you call your dog-bites-man situation. Which is anything too common and expected to be a good story (unless the dog is one of those Resident Evil hellhounds, or the man is Cesar Millan). An example of a dog-bites-man science story is yet another confirmation of Einstein and relativity.


ABOUT THE AUTHOR(S)

Steve Mirsky has been writing the Anti Gravity column since atmospheric carbon dioxide levels were about 358 parts per million. He also hosts the Scientific American podcast Science Talk.


Source: http://rss.sciam.com/click.phdo?i=bed4ce099317e94960f277119b6827ca

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Monday, January 30, 2012

Congress tries to police itself on insider trading

(AP) ? Aware that most Americans would like to dump them all, members of Congress hope to regain some sense of trust by subjecting themselves to tougher penalties for insider trading and requiring they disclose stock transactions within 30 days.

A procedural vote Monday would allow the Senate later this week to pass a bill prohibiting members of Congress from using nonpublic information for their own personal benefit or "tipping" others to inside information that they could trade on.

Insider trading laws apply to all Americans, but CBS' "60 Minutes" in November said members of Congress get a pass, citing investment transactions by party leaders and a committee chairman in businesses about to be affected by pending legislation.

The broadcast report raised questions about trades of House Speaker John Boehner, R-Ohio; the husband of Democratic leader and former Speaker Nancy Pelosi of California; and Rep. Spencer Bachus, R-Ala., chairman of the House Financial Services Committee.

All three denied using any insider information to make stock trades, but the broadcast set off a flurry of efforts in Washington to deal with the public perception.

A recent Wall Street Journal/NBC News poll of registered voters found 56 percent of them favor replacing the entire 535-member Congress. Other polls this year have given Congress an approval rating between 11 percent and 13 percent, while disapproval percentages have ranged from 79 percent to 86 percent.

House Majority Leader Eric Cantor, R-Va., said he's working on an expanded bill that would go beyond stock transactions and ban lawmakers from making land deals and other investments based on what they learned as members of Congress.

The Senate version of the Stop Trading on Congressional Knowledge (STOCK) Act would subject any member of Congress who violates the ban on insider trading to investigation and prosecution by regulatory agencies and the Justice Department. It also directs the House and Senate ethics committees to write rules that would make violators subject to additional congressional penalties.

"We can start restoring some of the faith that's been lost in our government by taking this common sense step of making members of Congress play by the exact same rules as everyone else," said Sen. Kirsten Gillibrand, D-N.Y., who with Sen. Scott Brown, R-Mass., wrote the bill "We must make it unambiguous that this kind of behavior is illegal."

President Barack Obama endorsed the bill in in State of the Union speech last week, saying he would "sign it tomorrow." Brown used that opening to briefly speak with the president as he was exiting the House chamber after Tuesday's address.

"The insider trading bill's on Harry's desk right now," Brown told Obama, referring to Senate Majority Leader Harry Reid. "Tell him to get it out, it's already there."

"I'm gonna tell him," answered Obama. "I'm gonna tell him, I'm gonna tell him to get it done."

Obama raised the issue again in his radio and Internet address on Saturday.

"The House and Senate should send me a bill that bans insider trading by members of Congress, and I will sign it immediately. They should limit any elected official from owning stocks in industries they impact," he said.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-29-Congress-Insider%20Trading/id-c24bc9d5e8d44cf79645556f1c14e57d

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Researchers find cancer in Egyptian mummy

A professor from American University in Cairo says discovery of prostate cancer in a 2,200-year-old mummy indicates the disease was caused by genetics, not environment.

The genetics-environment question is key to understanding cancer.

AUC professor Salima Ikram, a member of the team that studied the mummy in Portugal for two years, said Sunday the mummy was of a man who died in his forties.

She said this was the second oldest known case of prostate cancer.

"Living conditions in ancient times were very different; there were no pollutants or modified foods, which leads us to believe that the disease is not necessarily only linked to industrial factors," she said.

A statement from AUC says the oldest known case came from a 2,700 year-old skeleton of a king in Russia.

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

Source: http://www.msnbc.msn.com/id/46182371/ns/technology_and_science-science/

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Sunday, January 29, 2012

What You Missed While Not Watching The Last Florida GOP Debate (Time.com)

0 minutes. "Only one thing is certain," CNN's opening montage declares. "Expect the unexpected." That hits the spot. We need false hope at a time like this. It's the 19th Republican debate. Everything that can happen probably already has. The screen flickers with a Romney video clip from the campaign trail. "We're not choosing a talk show host," he says. This will need to be fact checked.

3 minutes. Wolf Blitzer. Facebook. Twitter. You know the drill.

4 minutes. Candidates on the catwalk. They walk out like they have done before. Nothing changes. They shake hands, then stand for the national anthem, sung by the local college's chamber singers, who have dressed for the occasion like puritan flight attendants. They sing well, which is totally unexpected. Santorum and Romney sing along. Gingrich, Paul, and Callista Gingrich, who is seen in a crowd shot, keep their mouths closed. Will have to keep an eye on them. You never know.

7 minutes. More Blitzer, who repeats the rules we have heard 18 times before. Then he asks the candidates to introduce themselves. (See more on the Florida debates.)

8 minutes. Santorum introduces himself by introducing his 93-year-old mother in the audience, who could easily pass for 81, and makes everyone feel good. She stands, Santorum smiles with pride and the crowd cheers wildly. "I'd better just stop right there," Santorum says. Yes, he should. He should also pick mom for vice president.

9 minutes. More of the expected. Gingrich says he is from neighboring Georgia. Romney says he has 16 grand-kids. Paul says he champions "a sound monetary system," which really has nothing to do with expensive acoustics, though don't tell his college-age voters. The dude is totally rad.

10 minutes. First question on immigration. This is totally unexpected. Immigration is usually asked at the end of the debate. Crazy. To allay this shock, the candidates give answers that are no different. Everyone on stage likes laws, wants to seal the borders, and embraces legal immigration. There are requisite mentions of American Express and MasterCard handling identification cards.

14 minutes. "I don't think anyone is interested in going around and rounding up people around the country and deporting 11 million Americans," says Romney. Oops. He recovers quickly: "Or, excuse me 11 million illegal immigrants into America." Paul follows up by saying he would end U.S. military involvement on the Afghan border to pay for more guards on the Mexican border.

16 minutes. Blitzer asks Gingrich why he called Romney the "most anti-immigrant candidate" in a recent ad. "Because, in the original conversations about deportation, the position I took, which he attacked pretty ferociously, was that grandmothers and grandfathers aren't going to be successfully deported," Gingrich says. This is a backhanded way of accusing Romney of wanting to deport Santorum's sweet mother, if she had no papers. (See more on the GOP debates.)

19 minutes. Romney, who has been giving Gingrich the evil eye, pounces. "That's simply unexcusable. That's inexcusable," Romney says, flip-flopping "un" for "in" in three words. "Mr. Speaker, I'm not anti-immigrant. My father was born in Mexico. My wife's father was born in Wales. They came to this country. The idea that I'm anti-immigrant is repulsive." It's the first time in 19 debates that someone has used the word "repulsive." Unexpected and about time. Romney goes on to say he is not going to round-up grandmothers. He is just going to deny them of employment, and hope they leave the country.

20 minutes. Gingrich says he would like Romney to "self-describe" himself, if he is not anti-immigrant for wanting to expel grandmothers. Romney, in full alpha dog mode, is off again. "There are grandmothers that live on the other side of the border that are waiting to come here legally. I want them to come here, too, not just those that are already here," Romney says. So he is not anti-grandma, he just favors some over others. More grandma back and forth follows.

21 minutes. Blitzer asks Romney about an ad he is running that says Gingrich called Spanish "the language of the ghetto." "I haven't seen the ad, so I'm sorry. I don't get to see all the TV ads," Romney replies. Later Romney adds about the ad, "I doubt that's my ad, but we'll take a look and find out." It is Romney's ad, a Spanish language radio spot. Gingrich said it, in a discussion about the importance of learning English, and later admitted that he chose his words poorly.

23 minutes. A question about the influence of China in Latin America. Paul calls for more free trade. Santorum warns of radical Islam in Venezuala and promises to be more involved as president in the continent. Paul and Santorum squabble about the proper reach of U.S. foreign policy.

29 minutes. During the squabble, Blitzer double checks the origin of the Romney ad. "It was one of your ads. It's running here in Florida on the radio. And at the end you say, 'I'm Mitt Romney and I approved this ad.' " Romney has no response. "Let me ask the speaker a question. Did you say what the ad says or not? I don't know," he says instead. "It's taken totally out of context," protests Gingrich. "Oh, OK, he said it," Romney concludes, misrepresenting what Gingrich just said to prove that he had not previously misrepresented something Gingrich once said.

30 minutes. Moving on to housing. How do you get Freddie Mac and Fannie Mae out of housing? Romney attacks Gingrich for once working as a political consultant for Freddie Mac. "We should have had a whistle-blower and not horn-tooter," says Romney. Romney never uses bad words. Maybe this is why "tooter" sounds so naughty.

31 minutes. Gingrich responds by attacking Romney for holding stock in Freddie Mac and Fannie Mae, as well as investing in Goldman Sachs, "which is today foreclosing on Floridians." Romney shoots back that most of these investments were in mutual funds controlled by a blind trust. Back in 1994, Romney argued that blind trusts were not really blind, since politicians could still direct the investments. But never mind that now. Because Romney then says, "And Mr. Speaker, I know that sounds like an enormous revelation, but have you checked your own investments?" Apparently, Gingrich also owned stock in Fannie and Freddie. Gingrich says, "Right," thereby admitting his whole attack was a giant exercise in hypocrisy.

34 minutes. Gingrich finds his comeback. "To compare my investments with his is like comparing a tiny mouse with a giant elephant," Gingrich says. Never before has "elephant" been used as an insult in a Republican debate. Unexpected.

35 minutes. Paul is asked to comment. "That subject really doesn't interest me a whole lot," he says, to applause. Got to love that guy. He goes on to blame the housing bubble on the Federal Reserve.

36 minutes. Santorum chastises Blitzer for focusing on these issues. "Can we set aside that Newt was a member of Congress and used the skills that he developed as a member of Congress to go out and advise companies -- and that's not the worst thing in the world -- and that Mitt Romney is a wealthy guy because worked hard and he's going out and working hard?" he asks. Not likely. But the crowd applauds. (See more on the State of the Union Address.)

37 minutes. First commercial break. Blitzer promises to talk about space when we return.

40 minutes. We are back to talk about tax returns. Is Gingrich satisfied with the Romney releases? "Wolf, you and I have a great relationship, it goes back a long way. I'm with him," Gingrich says of Santorum. "This is a nonsense question." Blitzer points out that Gingrich recently said of Romney, "He lives in a world of Swiss bank and Cayman Island bank accounts."

41 minutes. Just as Gingrich seems to be succeeding in getting the question dropped, Romney jumps in. "Wouldn't it be nice if people didn't make accusations somewhere else that they weren't willing to defend here?" he says. So Gingrich pivots from bickering with Blitzer, and attacks Romney. "I don't know of any American president who has had a Swiss bank account," he says. "I'd be glad for you to explain that sort of thing."

43 minutes. Romney blames the blind trust. Then he finds words to defend his wealth that have been missing for the last three debates. "I'm proud of being successful. I'm proud of being in the free enterprise system that creates jobs for other people. I'm not going to run from that," Romney says. "I'm proud of the taxes I pay. My taxes, plus my charitable contributions, this year, 2011, will be about 40 percent." The two men go back and forth a bit more.

45 minutes. Some talk about tax rates. Gingrich tries to explain why he both talks about Romney's tax rates in a derogatory way and wants to reduce his taxes to zero, by eliminating the capital gains tax. Gingrich says he wants everyone to pay what Romney now pays in taxes, even if it means reducing Romney's taxes further. "My goal is to shrink the government to fit the revenue, not to raise the revenue to catch up with the government," he says. Santorum chimes in to say he doesn't want taxes quite as low as Gingrich. Paul says he wants to get rid of the 16th Amendment, which gives Congress the power to collect taxes.

49 minutes. Blitzer asks Paul if he will release his health records. "Oh, obviously, because it's about one page," the 76-year-old says. "I'm willing to challenge any of these gentlemen up here to a 25- mile bike ride any time of the day in the heat of Texas." Everyone else on stage agrees to release their health records too.

50 minutes. Space cadet time. Romney is against a moon base, but for a vibrant space program, whatever that means. Gingrich is for a moon base, largely to beat the Chinese, but he says lots of the efforts to get there could be done with private enterprise. Santorum thinks a moon base is too expensive. "Well, I don't think we should go to the moon," says Paul. "I think we maybe should send some politicians up there." Paul is so cool. Maybe his sound monetary policy does have beats after all. (See photos of Obama's State of the Union Address)

56 minutes. Blitzer points out that Gingrich would allow a lunar colony with 13,000 Americans in it apply for statehood, which is probably a pander to the same stoner college vote that Paul has wrapped up. Romney, who is still in alpha dog mode, attacks again. "I spent 25 years in business," he says. "If I had a business executive come to me and say they wanted to spend a few hundred billion dollars to put a colony on the moon, I'd say, You're fired.'" Romney tends to get in trouble when he talks about firing people. Yet he still does it. Then he accuses Gingrich of pandering to Floridians, like he did to South Carolinians, and to New Hampshirites.

59 minutes. Gingrich answers by pandering more. "The port of Jacksonville is going to have to be expanded because the Panama Canal is being widened, and I think that's useful thing for a president to know," he says. He also talks about the Everglades. Then he claims again to have created four consecutive balanced budgets, which is not true. (See last debate recap.)

60 minutes. Paul points out that the balanced budgets Gingrich claims still included deficits, if one accounts for the money that was taken out of Social Security. "I agree with Ron," Gingrich responds, once again undermining his own talking point. "I actually agree with you, and I propose that we take Social Security off budget."

62 minutes. Question from the audience by an unemployed woman without health insurance. She asks what the candidates would do for her. Paul says he would get government out of health insurance. Gingrich says he would repeal ObamaCare and get the economy going again, and create a new health reform that gives her a tax break to buy health insurance.

64 minutes. Romney basically agrees, and then attacks President Obama. This is the first time he has attacked Obama in a sustained way. Last debate this moment came at 71 minutes. In the previous dozen or so debates, he always attacked Obama with just about every answer.

66 minutes. Santorum goes after Gingrich and Romney for supporting ObamaCare-like health reforms in the past. The substance has been well tread in prior debates. But what is notable is that in the tit for tat that follows, Santorum kind of gets under Romney's skin in a way that Gingrich has so far failed to do. "I make enough mistakes in what I say, not for you to add more mistakes to what I say," Romney says at one point. It's meant as a joke. But no one laughs.

72 minutes. As Santorum continues to tear into Romney for the horror of what he did in Massachusetts in 2004, it is worth remembering that Santorum endorsed Romney for president in 2008.

75 minutes. "Congressman Paul, who is right?" asks Blitzer. "I think they're all wrong," Paul says.

76 minutes. The candidates are asked to name Hispanic leaders they could see in their cabinet. They all do. Except Paul. "I don't have one particular name that I'm going to bring up," he says.

78 minutes. Commercial break.

82 minutes. We're back. Candidates are asked to say why their wives are great. Paul says he has been married 54 years, and his wife wrote "a very famous cookbook, 'The Ron Paul Cookbook.'" Romney says his wife has overcome breast cancer and Multiple Sclerosis, and wants to make sure young women don't get pregnant before marriage. Gingrich says his wife plays the French horn, and writes patriotic books. Santorum says his wife has written a couple of books, one about their child who died at birth, and another about training kids to have good manners.

88 minutes. Romney and Gingrich are asked to bicker over who is closer to Reagan. Romney admits that it took him a long time to come around to the Reagan view. "I became more conservative," he says. Gingrich says Nancy Reagan told him the Reagan torch had been passed to him. Then he attacks Romney. "In '92 he was donating to the Democrats for Congress and voted for Paul Tsongas in the Democratic primary," Gingrich says. "In '94 running against Teddy Kennedy, he said flatly, I don't want to go back to the Reagan-Bush era, I was an independent."

91 minutes. "I've never voted for a Democrat when there was a Republican on the ballot," says Romney, which is a pretty misleading thing to say. There was also a Republican primary in 1992. Romney could have chosen to vote in it.

92 minutes. Questions about Cuba. Santorum is against the Obama policy of liberalizing relations. He warns of "Jihadist's who want to set up missile sites" in Cuba or Venezuela. Paul shoots back that he doesn't think the American people "see a Jihadist under the bed every night." If he had any chance of winning, Paul would be seen as the winner of this debate.

95 minutes. Romney attacks Obama's Cuba policy. So does Gingrich.

98 minutes. A self-described Palestinian in the audience, as part of a question about Middle East Peace, says, "I'm here to tell you we do exist." Romney responds by saying, "It's the Palestinians who don't want a two-state solution." This is not true. The Palestinians have gone to the United Nations demanding just such a thing, though they differ with Israel about borders and conditions. Gingrich repeats his previous claim about Palestinian invention. "It was technically an invention of the late 1970s, and it was clearly so. Prior to that, they were Arabs. Many of them were either Syrian, Lebanese, or Egyptian, or Jordanian," he says. By that standard, Americans are an invented people too. But no one points this out.

102 minutes. Question about Puerto Rican statehood. Santorum panders a lot, praising Puerto Rico and its leaders. But then declines to take a position on statehood.

105 minutes. Question about how religious views would affect presidency. Paul says all that matters to him in the job is the Constitution. Gingrich says he would pray for guidance and stop the war against Christianity that is being waged by the "secular elite." Santorum says he understands that rights come from God, not government.

110 minutes. One more break.

113 minutes. Last question. Why are you the person most likely to beat Obama? Paul suggests that he can pick up support from Obama's base, by coming at the president from the left on foreign policy and civil liberties. Romney recites his stump speech. Critical time, social welfare state, etc. Gingrich does a riff about Saul Alinsky, food stamps and appeasement. Santorum says he can win blue-collar Reagan Democrats like Reagan did.

120 minutes. We are done. Pretty much as expected. Now Florida must vote. The outcome will no doubt help to determine how many more debates must be endured.

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Saturday, January 28, 2012

Costa: $14,460 per person for ruined Italy cruises

In this undated photo released by the Italian Navy Thursday, Jan. 26, 2012, the Costa Concordia cruise ship is seen grounded off the Tuscan island of Giglio, Italy. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Italian Navy)

In this undated photo released by the Italian Navy Thursday, Jan. 26, 2012, the Costa Concordia cruise ship is seen grounded off the Tuscan island of Giglio, Italy. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Italian Navy)

Seagulls stand on a rock near the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy, Thursday, Jan. 26, 2012. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Pier Paolo Cito)

A view of the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy, Thursday, Jan. 26, 2012. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Pier Paolo Cito)

Italian firefighters, top, work on the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy, as Italian Financial police scuba divers prepare to dive, bottom, Thursday, Jan. 26, 2012. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Pier Paolo Cito)

Italian Navy scuba divers gestures as they return after assignment of the grounded cruise ship Costa Concordia off the Tuscan island of Giglio, Italy, Thursday, Jan. 26, 2012. Italian authorities have identified the bodies of three German passengers as divers kept up the search for those still missing from the Costa Concordia cruise ship that rammed into a reef off Italy. Sixteen deaths have been confirmed so far in the disaster, but three of those bodies have yet to be identified. Another 16 people are still missing from the ship, which grounded Jan. 13, but officials have acknowledged that it would take a miracle to find any more survivors. Salvage experts worked Thursday so they could begin pumping tons of fuel off the ship starting Saturday to avert an environmental catastrophe. The stricken ship lies very close to a marine sanctuary. (AP Photo/Pier Paolo Cito)

(AP) ? Costa Crociere SpA offered uninjured passengers euro11,000 ($14,460) apiece Friday to compensate them for lost baggage and the psychological trauma they suffered after their cruise ship ran aground and capsized off Tuscany.

But some passengers are already refusing to accept the deal, saying they can't yet put a figure on the costs of the trauma they endured.

Costa announced the offer after negotiations with consumer groups who say they are representing 3,206 passengers from 61 countries who suffered no physical harm when the massive Costa Concordia cruise ship hit a reef on Jan. 13.

In addition to the lump-sum indemnity, Costa, a unit of the world's biggest cruise operator, the Miami-based Carnival Corp., also said it would reimburse uninjured passengers the full costs of their cruise, their return travel expenses and any medical expenses they sustained after the grounding.

The deal does not apply to the hundreds of crew on the ship, many of whom have lost their jobs, the roughly 100 people who were injured in the chaotic evacuation or the families who lost loved ones. Sixteen bodies have already been recovered from the disaster and another 16 people who were on board are missing and presumed dead.

Passengers are free to pursue legal action on their own if they aren't satisfied with the deal and it was clear Friday ? two weeks after the grounding ? that some would.

"We're very worried about the children," said Claudia Urru of Cagliari, Sardinia, who was on board the ship with her husband and two sons aged 3 and 12. Her eldest child, she said, is seeing a psychiatrist: He won't speak about the incident or even look at television footage of the grounding.

"He's terrorized at night," she told The Associated Press. "He can't go to the bathroom alone. We're all sleeping together, except my husband, who has gone into another room because we don't all fit."

As a result, she said, her family has retained a lawyer because they don't know what the real impact ? financial or otherwise ? of the trauma will be. She said her family simply isn't able to make such decisions now.

"We are having a very, very hard time," she said.

Some consumer groups have already signed on as injured parties in the criminal case against the Concordia's captain, Francesco Schettino, who is accused of manslaughter, causing a shipwreck and abandoning the ship before all those aboard were evacuated. He is under house arrest.

In addition, Codacons, one of Italy's best-known consumer groups, has engaged two U.S. law firms to launch a class-action lawsuit against Costa and Carnival in Miami, claiming that it expects to get anywhere from euro125,000 ($164,000) to euro1 million ($1.3 million) per passenger.

German attorney Hans Reinhardt, who currently represents 15 Germans who survived the accident and is in talks to represent families who lost loved ones, said he is advising his clients not to take the settlement.

Instead, he, like Codacons, is working with the U.S. law firm to pursue the class-action suit in Miami.

"What they have lost is much more than euro11,000," he told the AP.

But Roberto Corbella, who represented Costa in the negotiations, said the deal provides passengers with quick and "generous" restitution that consumer groups estimate could amount to some euro14,000 ($18,500) per passenger when it includes the other reimbursements.

"The big advantage that they have is an immediate response, no legal expenses, and they can put this whole thing behind them," he told AP.

Angry passenger Herbert Greszuk, a 62-year-old German who left behind everything he had with him, including his tuxedo, camera, jewelry, and even his dentures, told the AP before the compensation deal was announced that it was an issue of accountability.

"Something like this must not be allowed to happen again. So many people died; it's simply inexcusable," he said.

The Concordia gashed its hull on reefs off the island of Giglio after Schettino made an unauthorized deviation from its approved route to bring it closer to Giglio. Some 4,200 passengers and crew were hastily evacuated.

Search efforts for the missing resumed Friday as salvage crews set up to begin extracting some 500,000 tons of heavy fuel oil on Saturday before it leaks into the pristine waters surrounding the ship. That pumping operation is expected to last nearly a month.

Italy's civil protection office on Friday released a list of some of the other possibly toxic substances aboard the cruise liner, including 50 liters of insecticide and 41 cubic meters of lubricants, among other things.

But so far, even though some film has been detected in the waters around the ship, tests on the waters indicate nothing outside the norm, according to Tuscany's regional environment agency.

"Toxic tests have all resulted negative," the agency said.

The crystal clear seas around Giglio are a haven for scuba divers and form part of a marine sanctuary for dolphins, porpoises and whales.

Passengers have said the evacuation was chaotic, with crew members unprepared to deal with an emergency and constantly downplaying the seriousness of the situation. Coast guard data shows the captain only sounded the evacuation alarm an hour after the initial collision, well after the Concordia had listed to the point that many lifeboats couldn't be lowered.

Schettino has admitted he had taken the ship on "touristic navigation" near Giglio but has said the rocks he hit weren't charted on his nautical maps.

Codacons has called for a criminal investigation into the not-infrequent practice of "tourist navigation" ? steering huge cruise ships close to shore to give passengers a view of key sites.

The chief executive of Costa, Pier Luigi Foschi, told Italian lawmakers this week that "tourist navigation" wasn't illegal, and was a "cruise product" increasingly sought out by passengers and offered by cruise lines to try to stay competitive.

___

David Rising in Berlin contributed.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-01-27-EU-Italy-Cruise-Aground/id-219a8db18c6c4d478aa9208120b81705

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Rosie O???Donnell and Fiancée are Trying for a Baby (omg!)

Rosie O?Donnell and Fianc?e are Trying for a Baby

On Friday?s episode of her OWN talk show, Rosie O?Donnell sat down with Dr. Mehmet Oz and revealed that she and her fianc?e, New York headhunter Michelle Rounds, are trying to have children.

Rosie O'Donnell: Engaged!?

"She's trying to get pregnant," O'Donnell told Oz on The Rosie Show.

Previously O'Donnell was married to Kelli Carpenter from 2004 to 2007. The former couple has four children, Blake, Parker, Chelsea and Vivienne.

O'Donnell confirmed her engagement on December 5, 2011 by announcing the happy news to her studio audience during a commercial break from The Rosie Show.

O'Donnell's interview with Dr. Oz airs next Thursday on OWN.

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//us.rd.yahoo.com/dailynews/external/omg_rss/rss_omg_en/news_rosie_o_donnell_fianc_e_trying_baby021300593/44334196/*http%3A//omg.yahoo.com/news/rosie-o-donnell-fianc-e-trying-baby-021300593.html

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Friday, January 27, 2012

Analysis: Italy - a buy for the brave (Reuters)

DAVOS (Reuters) ? Italy could turn out to be the investment bet of the decade if European Union leaders manage to contain the euro zone crisis.

But buying Italian debt at this time is only for the brave - and those who believe the worst of the danger for the euro zone's third biggest economy has passed, according to interviews with more than a dozen investors and bankers.

George Soros called returns above 6 percent on 10-year Italian debt a "dangerous" but "attractive" speculation.

"That's a fantastic yield, which is not going to stay up there the moment things settle down," said Soros, once the world's best-known hedge fund manager. "At 6 or 7 percent, Italian bonds are a speculation. At 5 percent or 4 percent I think they would be a very, very good long-term investment."

Ten-year Italian bonds have been one of world's best performing assets since the start of 2012, beating a 6.4 percent annual return offered by traditional safe-havens such as gold.

The prospect that new prime minister Mario Monti, an internationally respected economist, will put Italy's house in order after decades of lax fiscal policy is lifting some of the gloom. But with uncertainty still hanging over the future of the euro zone, the difference in returns offered by 10-year Italian bonds compared with equivalent German bonds, currently just above 4 percent, would have to fall by at least 1 percentage point to attract substantial inflows.

In order to engage in this type of bet, one has to be convinced that the euro zone will survive a looming Greek debt restructuring and projections of prolonged slow growth.

Several non-European investors interviewed by Reuters were uninterested in buying the bonds of Italy, Spain and other weak European states because they were not convinced politicians will achieve a lasting solution to Europe's woes. But there is a play to be made if one has faith in Europe's leaders.

"We are sitting on a bomb now. If the bomb explodes we are all dead. But if it doesn't, Italy is a better place to be than Germany," said a hedge fund manager, speaking on condition of anonymity because of the sensitivity to his business.

Germany is one of only four euro zone countries still rated AAA by Standard & Poor's and is the only one with a stable outlook. That contrasts with the BBB+ S&P slapped on Italy in a mass downgrade of the euro zone on January 13.

ECB FUNDING GAME CHANGER

Some investors and bankers say the chances that the 17-nation single currency bloc will find a way out of its crisis have improved since the ECB decided in December to start offering unlimited 3-year funding to European banks.

The cheap money flow, known as Long Term Refinancing Operation, is throwing a lifeline to European banks that risked being shut out of the funding market back in October and November, preventing a Lehman-type bank failure that could have destroyed the single currency only three months ago.

"The issue of liquidity as far as the banks are concerned seems to have abated, yet there are other issues. It is a policy that provides breathing space for other policy measures to take place. By and large it's a very good measure," said Jacob Frenkel, Chairman of JP Morgan Chase.

The ECB funding, offered at 1 percent in exchange for collateral such as government bonds, has led to more demand for Italian sovereign debt because banks can use the cheap funds to make potentially lucrative bets. This carry trade is causing yields on short-term bonds to drop. Two-year Italian government bond yields have more than halved from the high of 7.5 percent seen at the end of November.

"Many hedge funds who were betting on Italian government bonds selling off have either changed views and taken profits or have been stopped out of their positions as the market has gone against them," said M&G Investments.

Bank executives and analysts say Italian short-dated sovereign debt has been attracting more interest among foreign investors since the start of the year. But it is Italian buyers who are snapping up the lion's share of it at auctions. The real test for Italy will be whether it can attract interest on its benchmark 10-year bond. Italy is due to sell five and 10-year BTP bonds on January 30 at an auction that will settle on February 1 when nearly 26 billion euros of BTPs and about 10 billion euros in coupons mature.

"What we see now is the cautious and selective return of non-domestic buyers," said Giovanni Bossi, CEO of small Italian lender Banca IFIS, who says his bank nearly doubled the amount of Italian bonds it held to 3.7 billion euros between Christmas and New Year. "Italy's MTS bond market was completely shut in November. The new ECB funding facility has unblocked it."

The Italian Treasury does not disclose data on buyers of its bonds at auctions nor does it give a breakdown of types of investors holding its debt. Analysts estimate that at the end of 2011 foreigners held about 45 percent of the country's debt With the rest in the hands of domestic banks and retail investors.

DEBT MOUNTAIN

Italy has a 1.9 trillion euro public debt, too large for anyone to absorb should things turn ugly in the euro zone. At around 120 percent, the country's debt to GDP ratio is the third highest in the world behind Japan and Greece. But thanks to an average maturity of 7 years, at par with France and longer than AAA-rated Germany, new debt issued at current yields has only a marginal and gradual impact on overall debt-servicing costs.

The country is running a primary surplus, projected at 3.4 percent in 2012, and can continue to service its debt if yields do not blow out for a prolonged period of time. According to Bank of Italy data, even with zero economic growth for the next three years and yields of 8 percent, Italy's debt-to-output ratio would remain stable.

Prime Minister Mario Monti is also stepping up efforts to reach a balanced budget in 2012. He plans to liberalize the economy and step up pension and labor market reform in order to revive growth.

"We are positive about the measures proposed by Mr. Monti's government. According to our calculations Italian debt to GDP will decline in coming years if all the announced measures are implemented," said Angelien Kemna, Chief Investment Officer at APG, which advises Dutch pension funds with assets worth 205 billion euros. "Our simulations show that that implementation has a much bigger impact on the debt/GDP ratio in 2016 than a higher yield level or a somewhat weaker growth rate."

As Italy moves to reduce its debt, the amount it has to pay in interest to bond holders can be expected to fall. Yet the International Monetary Fund is expecting Italy to enter a recession this year and suffer a 2.2 percent decline in output, limiting its ability to reduce debt.

SCEPTICISM ABOUNDS

The Italian government is working hard to woo foreign investors. Monti has skipped Davos this year, sensitive to the gathering's excesses at a time of austerity at home. Instead he was in London last week to try to overcome widespread euro-skepticism in Europe's financial capital.

Deputy Economy Minister Vittorio Grilli, who was also meeting potential bond-buyers in London on Wednesday, said London-based investors showed "impressed surprise" at the progress made by Italy in fixing its public finances and reforming the economy.

Betting on Italian bonds may be an attractive trade for sophisticated investors like hedge funds, but for the super wealthy who want to preserve their capital with minimal risk it is still a no-go area. That is why private bankers are not advising wealthy clients to dip into Italian and other peripheral bonds.

"We are advising clients to stay out of the periphery of the euro zone. You do not want to take a large amount of risk. The main concern right now is capital preservation," said Jane Fraser, head of Citi Private.

Large non-EU pension funds, some of whom have restrictions on investing in foreign government debt, are staying away from Italy or have reduced their exposure. Norway's mammoth sovereign wealth fund, for instance, reduced its holdings of Italian government debt in the third quarter of 2011 as the euro crisis approached its most acute phase.

Nervousness about the ultimate outcome of the crisis is also scaring off some Asian and U.S. funds that find the complexity of the euro zone architecture daunting.

"We will not invest in European sovereign debt. It's not our area of expertise, and the little we invest won't make a difference anyway. Such investments are best left to governments or state-backed companies, because only they have the resources to help improve things," said John Zhao, CEO of PE fund Hony Capital with almost $7 billion under management.

(Additional reporting by Valentina Za and Silvia Aloisi in Milan, Sinead Cruise in London, Kelvin Koh and Alex Smith in Davos; editing by Janet McBride)

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/nm/20120126/bs_nm/us_davos_italy_investment

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Study Finds Mercury in More Northeastern Bird Species

[unable to retrieve full-text content]Dangerously high levels have been detected in Northeastern songbirds as the most toxic form of the heavy metal moves through the food chain.

Source: http://feeds.nytimes.com/click.phdo?i=03041e4d751724c9bdddd394c38671bb

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Thursday, January 26, 2012

Australian PM stumbles before rowdy protest crowd (AP)

CANBERRA, Australia ? Australian Prime Minister Julia Gillard stumbled and was caught by a security guard as riot police helped her force a path through a crowd of rowdy protesters following a ceremony to mark Australia's national day Thursday.

She was unharmed and later remarked that she was made of "pretty tough stuff" and commended police for their actions.

Some 200 supporters of indigenous rights had surrounded a Canberra restaurant and banged its windows while Gillard and opposition leader Tony Abbott were inside officiating at an award ceremony.

Around 50 police escorted the political leaders from a side door to a car. Gillard stumbled, losing a shoe. Her personal security guard wrapped his arms around her and supported her to the waiting car, shielding her from the angry crowd.

The protesters had been demonstrating for indigenous rights nearby at the so-called Aboriginal Tent Embassy, a ramshackle collection of tents and temporary shelters in the national capital that is a center point of protests against Australia Day.

Australia Day marks the arrival of the first fleet of British colonists in Sydney on Jan. 26, 1788. Many Aborigines call it Invasion Day because the land was settled without a treaty with traditional owners.

Abbott appeared to be the target of protesters, who chanted "shame" and "racist" outside the restaurant.

The Tent Embassy celebrated its 40th anniversary on Thursday. Abbott had earlier angered indigenous activists by saying it was time the embassy "moved on."

Gillard was unharmed and later hosted another Australia Day function for foreign ambassadors at her official residence.

"The only thing that angers me is that it distracted from such a wonderful event," Gillard told reporters.

"I am made of pretty tough stuff and the police did a great job," she added.

Source: http://us.rd.yahoo.com/dailynews/rss/oceania/*http%3A//news.yahoo.com/s/ap/20120126/ap_on_re_as/as_australia_indigenous_protest

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Newt Gingrich defends Mitt Romney immigration ad that his campaign has yanked (Washington Bureau)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, RSS and RSS Feed via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/191577039?client_source=feed&format=rss

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Wednesday, January 25, 2012

Forums: Streaming video apps, Jailbroken iPhone 4S screens

We've kicked off another week here at iMore and thus far, it's been busy as always. If you missed anything from the weekend, be sure to get yourself caught up either here on the blogs or in the iMore forums.


Source: http://feedproxy.google.com/~r/TheIphoneBlog/~3/Xwai1bndQ6Q/story01.htm

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Hibbert leads Pacers past Lakers, 98-96 (AP)

LOS ANGELES ? Roy Hibbert scored eight of his 18 points in the fourth quarter playing with a broken nose, and five of his teammates also scored in double figures to help the Indiana Pacers beat the Los Angeles Lakers 98-96 on Sunday night.

Kobe Bryant scored 33 points for the Lakers, but missed what would have been a tying 3-pointer from 30 feet from the top of the key with 3.5 seconds to play and the Pacers clinched it at the free throw line.

The Pacers (11-5) are off to their best start since 2003-04, when they won 14 of their first 16, finished the regular season 61-21 and came within two wins of getting to the NBA finals.

The Lakers, coming off road losses to Miami and Orlando, failed to reach 100 points for the 11th straight game ? their longest streak since a 12-game stretch in 2003-04.

Hibbert, the Pacers' second-leading scorer, left the court with the broken nose after fouling Bryant with 6:46 left in the first quarter. Tyler Hansbrough replaced Hibbert and missed all five shots during Hibbert's brief absence, but grabbed seven rebounds.

Hibbert reported back in with 5:12 left in the second quarter after a trainer stuffed cotton up his nose, but he had difficulty keeping it in at times. He also had eight rebounds in 27 minutes.

Bryant beat the third-quarter buzzer with a 16-footer from the right of the key to give the Lakers a 78-77 lead, and former Pacers forward Troy Murphy got his first points of the game on a 3 that made it 82-77.

Hibbert, more than willing to get his nose dirty, scored six consecutive points in the paint to cut the margin to one with 6:15 left, and former UCLA guard Darren Collison's 3-pointer tied it at 86 with 5:32 left.

West ended the first half with a buzzer-beating 3-pointer from the top of the key, capping a 15-6 run and slicing the Lakers' 13-point lead to three at 52-49. He finished the half with 15 points, helping offset 17 by Bryant. Danny Granger's 3-pointer 1:37 into the third quarter gave Indiana a 55-54 lead, its first since Paul George's game-opening dunk.

Notes: The National Anthem was sung by Kareem Rush, whose seven-year NBA career included stints with the Lakers and Pacers. ... Bryant is 180 points away from overtaking Shaquille O'Neal (28,596) for fifth place on the career scoring list. The two-time NBA scoring champ also is 20 field goals shy of Kareem Abdul-Jabbar's Lakers career record of 9,935 and needs to make 11 more free throws to eclipse Jerry West's Lakers career record of 7,160. ... Pacers associate coach Brian Shaw, who won three NBA championship rings playing for the Lakers and two more as an assistant coach under Phil Jackson, made his first trip to Staples Center since leaving Los Angeles. He and most of the Lakers players ? particularly Bryant ? were hoping he'd be hired to replace Jackson as head coach instead of Mike Brown, and Shaw was upset that he had to learn about Brown's hiring from media reports instead of from general manager Mitch Kupchak. ... The last time the Pacers faced the Lakers at Staples Center, they won 95-92 to snap a 14-game road losing streak against them ? including three losses in the 2000 NBA finals. ... The Lakers have a rematch with the Clippers on Wednesday night, trying to even the season series after a 102-94 loss Jan. 14. ... Lakers F Josh McRoberts, who spent the previous three seasons with the Pacers, played 20 scoreless minutes and took two shots in his first game against them.

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_sp_bk_ga_su/bkn_pacers_lakers

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Ultrafast magnetic processes observed 'live' using an X-ray laser

ScienceDaily (Jan. 23, 2012) ? In first-of-their-kind experiments performed at the American X-ray laser LCLS, a collaboration led by researchers from the Paul Scherrer Institute has been able to precisely follow how the magnetic structure of a material changes.

The study was carried out on cupric oxide (CuO). The change of structure was initiated by a laser pulse, and then, with the help of short X-ray pulses, near-instantaneous images were obtained at different points in time for individual intermediate steps during the process. It appears as if the structure begins to change 400 femtoseconds after the laser pulse strikes (1 femtosecond = 0.000 000 000 000 001 seconds). Apparently, the fundamental magnets within the material need that much time to communicate with each other and then react. In addition to this scientific result, the work proves that it is actually possible with X-ray lasers to follow certain types of extremely rapid magnetic processes.

This is another milestone, because such investigations will also be a major focus of research at the planned Swiss X-ray Laser, SwissFEL, at PSI. The results could contribute to the development of new technologies for magnetic storage media for the future.

The researchers have reported on their work in the latest edition of the technical journal Physical Review Letters (PRL).

Materials with particular magnetic properties are the basis of many current technologies, in particular, data storage on hard discs and in other media. For this, the magnetic orientation in the material is most often used: the atoms in the material behave to some extent like tiny rod magnets ("spins"). These mini-magnets can be oriented in different ways and information can be stored through their orientation. For efficient data storage, it is crucial that old data can be rapidly overwritten. This is possible if the magnetic orientation in a material can be altered in a very short time. To develop innovative materials which can store data quickly, it is therefore important to understand exactly how this change occurs as a function of time.

Magnetic orientation in motion

In experiments performed at the X-ray laser LCLS at Stanford, California, a collaboration led by researchers from the Paul Scherrer Institute have been able to study the magnetic orientation in cupric oxide, CuO. This material demonstrates completely different magnetic orientations depending on temperature: Below -60?C, the spins, which function in the copper atoms (Cu) like magnets, point periodically in one direction and then the opposite; between -60?C and -43?C, they are arranged helically, as if they were forming a spiral staircase. Although the spin orientations for the two arrangements have been known for some time, the time required to move from one arrangement to the other has only now been shown by the experiment.

"In our investigation, we began with a 'cold' sample and then heated it with an intense flash of light from an optical laser," explains Steven Johnson, spokesman for the PSI experiment. "Shortly after this, we determined the structure of the sample by illuminating it with an extremely short pulse from an X-ray laser. When we repeated this at different time intervals between the flash of light and the X-ray pulse, we were able to reconstruct the course of the change in the magnetic structure."

Mini-magnets need 400 femtoseconds to agree amongst themselves.

The results show that it takes about 400 femtoseconds before the magnetic structure begins to alter visibly. Then the structure gradually reaches its final state. The more intense the initiating flash of light, the faster the change of state. "The spins of all copper atoms are involved in the magnetic structure. Thus the atoms at opposite ends of the material must be coordinated before the structure can change. This takes 400 femtoseconds," explains Urs Staub, one of the PSI researchers responsible. "For cupric oxide, that is the fundamental limit; it simply cannot happen faster than that. This depends upon how strongly the spins are coupled between neighbouring atoms."

There is a good reason why the researchers were particularly interested in cupric oxide. Along with the screw-like magnetic orientation that occurs between -60?C and -43?C, the material is also 'multiferroic', a material where electrical and magnetic processes mutually influence one another. These materials have many different potential areas of application where magnetism and electronics interact.

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Story Source:

The above story is reprinted from materials provided by Paul Scherrer Institut (PSI), via AlphaGalileo.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. S. Johnson, R. de Souza, U. Staub, P. Beaud, E. M?hr-Vorobeva, G. Ingold, A. Caviezel, V. Scagnoli, W. Schlotter, J. Turner, O. Krupin, W.-S. Lee, Y.-D. Chuang, L. Patthey, R. Moore, D. Lu, M. Yi, P. Kirchmann, M. Trigo, P. Denes, D. Doering, Z. Hussain, Z.-X. Shen, D. Prabhakaran, A. Boothroyd. Femtosecond Dynamics of the Collinear-to-Spiral Antiferromagnetic Phase Transition in CuO. Physical Review Letters, 2012; 108 (3) DOI: 10.1103/PhysRevLett.108.037203

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2012/01/120123123355.htm

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Tuesday, January 24, 2012

Scrambled GOP race heads to Florida

Republican presidential candidate and former House Speaker Newt Gingrich prepares to walk off stage with his grand daughter Maggie Cushman, after Gingrich spoke during a?South Carolina Republican presidential primary night rally, Saturday, Jan. 21, 2012, in Columbia, S.C. Newt Gingrich won the South Carolina primary. (AP Photo/Matt Rourke)

Republican presidential candidate and former House Speaker Newt Gingrich prepares to walk off stage with his grand daughter Maggie Cushman, after Gingrich spoke during a?South Carolina Republican presidential primary night rally, Saturday, Jan. 21, 2012, in Columbia, S.C. Newt Gingrich won the South Carolina primary. (AP Photo/Matt Rourke)

Republican presidential candidate and former House Speaker Newt Gingrich speaks during a?South Carolina Republican presidential primary night rally, Saturday, Jan. 21, 2012, in Columbia, S.C. Callista Gingrich looks on at right. (AP Photo/Paul Sancya)

Former Pennsylvania Sen. Rick Santorum speaks during a South Carolina Republican presidential primary-night rally at The Citadel, Saturday, Jan. 21, 2012, in Charleston, S.C. Santorum says it's a "wide open race" for the GOP nomination, even after finishing a distant third in Saturday's primary. He'd hoped to build momentum from a late victory in the Iowa caucuses. (AP Photo/Rainier Ehrhardt)

Republican presidential candidate, former Pennsylvania Sen. Rick Santorum speaks during a South Carolina Republican presidential primary night rally at the Citadel, Saturday, Jan. 21, 2012, in Charleston, S.C. Santorum says it's a "wide open race" for the GOP nomination, even after finishing third in Saturday's primary. (AP Photo/Rainier Ehrhardt)

Republican presidential candidate, former Massachusetts Gov. Mitt Romney, stands with his wife Ann as he speaks at his South Carolina primary election night reception at the South Carolina State Fairgrounds in Columbia, S.C., Saturday, Jan. 21, 2012. Former House Speaker Newt Gingrich won the Republican primary Saturday night. (AP Photo/Charles Dharapak)

TAMPA, Fla. (AP) ? A suddenly scrambled Republican presidential contest now shifts to Florida, a day after Newt Gingrich stopped Mitt Romney's sprint to the GOP nomination by scoring a convincing victory in South Carolina.

The air of inevitability that surrounded Romney's candidacy just days ago is gone, at least for now. And his rivals, led by Gingrich, have 10 days before Florida's Jan. 31 contest to prove South Carolina was no fluke.

Florida, being much larger, more diverse, and more expensive, brings new challenges to Gingrich, who again must overcome financial and organizational disadvantages as he did Saturday.

"We don't have the kind of money at least one of the candidates has. But we do have ideas. And we do have people," Gingrich, the former House speaker, told cheering supporters Saturday night. "And we proved here in South Carolina that people power with the right ideas beats big money. And with your help, we're going to prove it again in Florida."

Romney struck a defiant tone before his own backers gathered at the South Carolina State Fairgrounds, saying: "I will compete in every single state." And wasted no time jabbing at Gingrich, saying: "Our party can't be led to victory by someone who also has never run a business and never led a state."

Former Pennsylvania Sen. Rick Santorum, having finished third in South Carolina, vowed to compete in Florida and beyond. His presence in the race ensures at least some division among Florida's tea party activists and evangelicals, a division that could ultimately help Romney help erase any questions about his candidacy by scoring a victory of his own a week from Tuesday.

Texas Rep. Ron Paul likely will not be a factor in Florida, having declared that he's bypassing the expensive state in favor of smaller subsequent contests.

As the first Southern primary, South Carolina has been a proving ground for Republican presidential hopefuls in recent years. Since Ronald Reagan in 1980, every Republican contender who won the primary has gone on to capture the party's nomination.

Returns from 95 percent of the state's precincts showed Gingrich with 41 percent of the vote to 27 percent for Romney. Santorum was winning 17 percent, Paul 13 percent.

But political momentum was the real prize with the race to pick an opponent to President Barack Obama still in its early stages.

Already, Romney and a group that supports him were on the air in Florida with a significant television ad campaign, more than $7 million combined to date.

Gingrich readily conceded that he trails in money, and even before appearing for his victory speech he tweeted supporters thanking them and appealing for a flood of donations for the Jan 31 primary. "Help me deliver the knockout punch in Florida. Join our Moneybomb and donate now," said his Internet message.

Aides to Romney, the former Massachusetts governor, had once dared hope that Florida would seal his nomination ? if South Carolina didn't first ? but that strategy appeared to vanish along with the once-formidable lead he held in pre-primary polls.

Romney swept into South Carolina 11 days ago as the favorite after being pronounced the winner of the lead-off Iowa caucuses, then cruising to victory in New Hampshire's first-in-the-nation primary.

But in the sometimes-surreal week that followed, he was stripped of his Iowa triumph ? GOP officials there now say Santorum narrowly won ? while former Utah Gov. Jon Huntsman dropped out and endorsed Romney and Texas Gov. Rick Perry quit and backed Gingrich.

Romney responded awkwardly to questions about releasing his income tax returns, and about his investments in the Cayman Islands. Gingrich, the former speaker of the House, benefited from two well-received debate performances while grappling with allegations by an ex-wife that he had once asked her for an open marriage so he could keep his mistress.

By primary eve, Romney was speculating openly about a lengthy battle for the nomination rather than the quick knockout that had seemed within his grasp only days earlier.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-22-GOP%20Campaign/id-39ef51b3a8e54784a88903af43cf4949

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France passes genocide law, faces Turkish reprisals (Reuters)

PARIS (Reuters) ? France approved on Monday a bill making it illegal to deny that the mass killing of Armenians by Ottoman Turks nearly a century ago was genocide, raising the prospect of a major diplomatic rift between two NATO allies.

Lawmakers in the upper house (Senate) voted 127 to 86 in favor of the draft law outlawing genocide denial after almost six hours of debate. The lower house had backed it in December, prompting Ankara to cancel all economic, political and military meetings with Paris and recall its ambassador for consultations.

The bill had been made more general so that it outlawed the denial of any genocide, partly in the hope of appeasing the Turks. It now goes to President Nicolas Sarkozy to be ratified.

"This day will be written in gold not only in the history of friendship between the Armenian and French peoples, but also in the annals of the history of the protection of human rights," said Armenia's Minister of Foreign Affairs, Edward Nalbandian.

Turkey's ambassador to France Tahsin Burcuoglu told reporters he was "saddened" by the vote and warned there would be permanent measures taken against France.

Armenia, backed by many historians and parliaments, says about 1.5 million Christian Armenians were killed in what is now eastern Turkey during World War One in a deliberate policy of genocide ordered by the Ottoman government.

The Ottoman empire was dissolved after the end of the war, but successive Turkish governments and the vast majority of Turks feel the charge of genocide is a direct insult to their nation. Ankara argues there was heavy loss of life on both sides during fighting in the area.

Earlier, Turkish Deputy Prime Minister Bulent Arinc told reporters at the Council of Europe in Strasbourg that Ankara would take new and permanent measures unless the bill was rejected and compared it to the Inquisition in the Middle Ages which was created by the Catholic Church to stamp out heresy.

"If the law is voted (through), it will hurt French and Turkish relations." Arinc said Turkey could take the matter to the European Court of Human Rights.

Turkey says the bill is a bid by Sarkozy to win the votes of 500,000 ethnic Armenians in France in the two-round presidential vote on April 22 and May 6.

It mandates a maximum 45,000-euro ($58,000) fine and a year in jail for offenders. France passed a law recognizing the killing of Armenians as genocide in 2001.

WAVING VOTING CARDS

About 200 Franco-Turks protested outside the Senate. They waved their French voting cards and banners with slogans including: "It's not up to politicians to invent history."

The Socialist Party, which has a majority in the upper house, and Sarkozy's UMP party, which put forward the bill, backed the legislation.

A non-binding Senate recommendation last week said the law would be unconstitutional and, after weeks of aggressive Turkish lobbying, there were suggestions the outcome would be closer.

Opponents in the Senate said the law would not encourage the Turks to recognize the Armenian genocide and would do nothing to help relations between the two nations.

"It is an unbearable law which calls into question historical research," said centre-left senator Jacques Mezard.

Sarkozy is expected to ratify the bill before parliament is suspended in February ahead of the presidential election.

It could still be rejected if some 60 lawmakers agree to appeal the decision at the country's highest court and that body considers the text unconstitutional. The Constitutional Council would have one month to make its decision.

Sarkozy wrote to Turkish Prime Minister Tayyip Erdogan last week saying the bill did not single out any country and that Paris was aware of the "suffering endured by the Turkish people" during the final years of the Ottoman empire.

French foreign ministry spokesman Bernard Valero called on Turkey not to overreact and said Paris considered Ankara a "very important ally."

Engin Solakoglu, first secretary at the Turkish embassy in Paris, said: "France can't continue to say that Turkey is an important ally when it votes laws against it."

European Union candidate Turkey could not impose economic sanctions on France, given its World Trade Organisation membership and customs union accord with Europe.

But the row could cost France state-to-state contracts and would create diplomatic tension as Turkey takes an increasingly influential role in the Middle East.

(Additional reporting by Lucien Libert in Paris, Gilbert Reilhac in Strasbourg and Daren Butler in Istanbul; editing by Robert Woodward)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20120123/wl_nm/us_france_turkey_genocide

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Sunday, January 22, 2012

GE's Former Subprime Unit Probed For Possible Fraud

It's been three long years since the housing bubble cratered the economy and not a single top mortgage executive sits behind bars. But sometimes the wheels of justice just turn extra slowly.

The FBI and the Department of Justice are probing possible fraud at WMC Mortgage Corp., the former subprime mortgage division of General Electric, reports the Center for Public Integrity's Michael Hudson.

Federal authorities are "asking whether WMC used falsified paperwork, overstated borrowers' income and other tactics to push through questionable loans," reports Hudson. The unit was owned by GE from 2004 to 2007, when it was shut down as the housing bubble burst, leading to numerous civil lawsuits. Last fall, WMC and EquiFirst Corp. were sued in a Minneapolis federal court by a bank trustee over a $550 million pool of subprime mortgage-backed securities.

Though low-level mortgage fraudsters have been prosecuted, most top lenders and executives have evaded punishment. Last month, Bank of America agreed to a $335 million settlement with the Department of Justice over claims that its Countrywide Financial mortgage lending unit discriminated against Hispanic and African-American borrowers by pushing them into high-risk subprime loans.

But the bank has avoided prosecution and Countrywide founder Angelo Mozilo, the poster boy of the subprime debacle, settled securities fraud and insider trading charges with the Securities and Exchange Commission in 2010 for $67.5 million -- a fraction of his estimated $600 million fortune.

In the case of WMC, former CEO Amy Brandt who helped lead its push into subprime mortgages, left in late 2006 to start up an indie rock label and to head up a private equity fund that invests in undervalued mortgage assets. Her short-lived successor as CEO, Laurent Broussard, now runs the retail cards unit at JPMorgan Chase.

A GE spokesman wrote in an email to HuffPost, "WMC is aware of multi-year investigations into participants across the subprime industry. WMC has been cooperating fully with such investigations. We have no reason to believe that WMC is currently a target of these investigations."

Spokesmen for the Justice Department and FBI declined comment.

FDA Risks Ire of Lawmakers With Missed Deadline

It's been a tough year for regulatory agencies, with Republican lawmakers complaining about "overregulation" and the massive federal deficit forcing steep budget cuts across the board.

So, it was curious to see the Food and Drug Administration risk even more pain by recently missing a crucial deadline that is sure to anger some members of Congress. The regulators have been arguing with medical device makers over the cost to speed up reviews of products such as hip implants and heart stents, which is paid for by industry -- with the FDA seeking $805 million and companies such as Johnson & Johnson preferring to pay $447 million. The agency missed a Jan. 15 deadline to submit a new agreement and probably won't have one by Feb. 15, when the House holds a hearing on the matter. If they miss the mark again, the FDA "will have the wrath of a bunch of exercised politicians on them who are running for re-election and want their pictures on TV that night," Ira Loss, senior health policy analyst at Washington Analysis, told Bloomberg News.

IRS Punishing Reformed Tax Evaders?

It's the IRS version of "no good deed goes unpunished."

The Internal Revenue Service has been promoting its voluntary disclosure program to help reduce the $385 billion owed by tax evaders who often hide assets overseas. But the program ends up hurting participants, potentially costing them more than if they continue to evade the IRS, National Taxpayer Advocate Nina Olson said in her annual report to Congress, reported Bloomberg.

High-Risk Chemical Plants Go Uninspected

The Department of Homeland Security's plans to inspect the 100 most high-risk chemical facilities in the country by the end of 2010 have been delayed due to the time needed to build a roster of inspectors, among other factors, according to a Congressional Research Service report. Only nine such Tier 1 facilities -- those deemed most at risk of a successful attack -- have been inspected as of last September and fewer than 50 have had their site security plans approved.

Citi, Morgan, RBC Hit For Muni Violations

Citigroup Global Markets, Morgan Stanley and RBC Capital Markets were among five firms fined a total of $220,000 for violations of municipal securities rules by the industry's self-regulatory body, the Financial Industry Regulatory Authority. The violations involved a failure to disclose material information -- such as a downgrade of a security by a ratings agency -- to customers and to report trades on a timely basis.

Today's must-reads

  • Less than four years after a head-on train collision that caused 25 deaths prompted safety legislation, those rules are in danger of being watered down in the face of industry pressure. (FairWarning)
  • Nevada politicians, including Attorney General Catherine Cortez Masto, accepted thousands of dollars worth of gifts -- including tickets to NASCAR races, clothing and travel accommodations -- from various organizations in 2011. (Las Vegas Review-Journal)
  • Does the Environmental Protection Agency have the political will to ?use its existing authority to re-shape the United States' dependence upon high-carbon power,? asks Center for Progressive Reform Member Scholar Alice Kaswan.
  • Three former top executives of failed bank Washington Mutual will pay nearly40 million -- through their insurers and out of their own pocket -- as part of a proposed settlement with the Federal Deposit Insurance Corp., according to documents filed in Delaware bankruptcy court Thursday. (Law360.com)
  • Grossest regulatory news headline of the day: "Scab Check for Poultry to Be Scrapped Under Food-Safety Rule" (Bloomberg News, of course)
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Source: http://www.huffingtonpost.com/2012/01/20/wmc-mortgage-corp-ge-subprime_n_1219920.html

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