Japan still mulling nuclear energy pullout: minister
Asked whether pulling out of nuclear was under consideration, Edano said:”Yes, it is still under consideration.”
World important news by Pearline
RSSJapan still mulling nuclear energy pullout: minister
Asked whether pulling out of nuclear was under consideration, Edano said:”Yes, it is still under consideration.”
Fed officials at odds on inflation threat
Jeffrey Lacker, the Richmond Fed’s hawkish president, acknowledged that inflation is likely to ebb in coming months as pressures from high energy and commodity prices ease. But he warned that inflation remained a threat.”My sense is that we should not be adding monetary stimulus at this point,” Lacker said in response to questions from reporters. “A case could be made that withdrawing stimulus may be warranted soon.”Lacker, who was speaking in Salisbury, Maryland, rotates into a voting spot on the Fed’s policy-setting panel next year.Speaking in Detroit, Charles Evans, the Chicago Fed’s dovish chief, said some temporary increase in inflation may be the price the nation must pay if Fed policy is to reduce joblessness.The Fed should step up its campaign to boost what he called a withering economy with a vow to keep interest rates at zero until the jobless rate falls below 7 percent, Evans said.If that does not work fast enough, the Fed should return to buying bonds to push down long-term rates, he said.”Given how badly we are doing on our employment mandate, we need to be willing to take a risk on inflation going modestly higher in the short run if that is a consequence of policies aimed at lowering unemployment,” said Evans, who has a policy-setting vote this year.”Rather than fighting the inflation ghosts of the 1970s, I am more worried about repeating the mistakes of the 1930s,” when the Fed failed to see that its monetary policy was unduly restricting growth, he said.The central bank last month committed to selling $400 billion in short-term Treasuries in order to buy longer-dated government bonds. The move, known as Operation Twist, drew three dissents, as did a Fed promise in August to keep rates low through at least mid-2013.While Lacker argued that such open dissent was a sign of healthy internal debate, not a fractured central bank, Evans suggested that calls by fellow policymakers for tighter rather than looser monetary policy may be undercutting the Fed’s efforts to stimulate the economy.”Financial markets are going to look at the entire breadth of the commentary and come up with their own assessment of what that means for the probability of a premature exiting from our current stance,” Evans told reporters after his speech. “To the extent that they put more weight on that, that means that we are not going to be as accommodative as I believe our current intentions are.”To emphasize the severity of the employment situation, Evans included in his otherwise pedestrian slides an “emoticon” with flames coming out the top of the head.The Fed could keep inflation in check by watching the medium-term outlook, he said. If the inflation outlook rose above 3 percent, he said, the Fed would start tightening policy, even if the jobless rate has not fallen below 7 percent.Evans’ remarks amounted to the strongest call yet for more monetary policy easing just weeks before the central bank’s policy-setting panel next meets, on November 1 and 2. Fed Chairman Ben Bernanke is due to speak on Tuesday.The U.S. economy has remained anemic this year despite hopes for a pick-up in the pace of expansion. Gross domestic product expanded under 1 percent in the first half of the year, while unemployment has remained stuck above 9 percent for several months.This backdrop, coupled with financial market strains emanating from Europe, have kept up the pressure on the Fed to continue providing support to the economy, despite its already unprecedented efforts to that effect in response to the Great Recession.The Fed has not only slashed benchmark interest rates to effectively zero, but also purchased some $2.3 trillion in government and mortgage-backed securities to support a fragile recovery.If the Fed adopts a policy trigger tied to the unemployment rate, Evans said, he would also favor adopting a formal inflation target of 2 percent to further cement expectations.
Conservationists ask court to halt Idaho, Montana wolf hunts
The Alliance for the Wild Rockies and others told the U.S. Ninth Circuit of Appeals that more than 200 wolves have been killed in Idaho and Montana so far this year from a population estimated at between 1,300 and 1,600.They argued that wolves will suffer irreparable harm now that a hunting season allowing rifles has opened in Idaho and is due to open in Montana, according to legal documents.The two states have issued nearly 37,000 wolf permits, which Alliance head Michael Garrity said could lead to a “slaughter.”“Nearly 37,000 humans armed with high-powered rifles and long-range scopes will now be trying to kill the wolves in Montana and Idaho,” Garrity said in a statement.The states contend wolves are thriving and that they should be hunted like other wildlife. Idaho is seeking to reduce its wolf population by about 80 percent and Montana is seeking to cull roughly 40 percent of its wolves, mostly through hunting.The U.S. Fish and Wildlife Service in the mid-1990s reintroduced fewer than 100 wolves to the Northern Rockies after hunting, trapping and poisoning campaigns pushed the creatures to the point of extinction.The reintroduction happened over the protests of ranchers, who feared wolves would threaten livestock, and commercial outfitters, who blamed wolves for preying on prized game animals like elk.The Fish and Wildlife Service and the states sought for years to lift U.S. Endangered Species Act protections from the animals in Idaho and Montana but those efforts - which would clear the way for hunts - were blocked by environmentalists.Congress passed a measure in April removing wolves in the two states from the threatened and endangered species list. It was the first time federal protections had been lifted from an animal by congressional action rather than scientific review.Alliance and other groups are appealing an August decision by a federal judge upholding the delisting. Ninth Circuit judges have already denied a previous request by conservationists to stay wolf hunts in Idaho and Montana.A spokesman for Idaho Governor C. L. “Butch” Otter did not respond on Monday to a request for comment.
Conservationists ask court to halt Idaho, Montana wolf hunts
The Alliance for the Wild Rockies and others told the U.S. Ninth Circuit of Appeals that more than 200 wolves have been killed in Idaho and Montana so far this year from a population estimated at between 1,300 and 1,600.They argued that wolves will suffer irreparable harm now that a hunting season allowing rifles has opened in Idaho and is due to open in Montana, according to legal documents.The two states have issued nearly 37,000 wolf permits, which Alliance head Michael Garrity said could lead to a “slaughter.”“Nearly 37,000 humans armed with high-powered rifles and long-range scopes will now be trying to kill the wolves in Montana and Idaho,” Garrity said in a statement.The states contend wolves are thriving and that they should be hunted like other wildlife. Idaho is seeking to reduce its wolf population by about 80 percent and Montana is seeking to cull roughly 40 percent of its wolves, mostly through hunting.The U.S. Fish and Wildlife Service in the mid-1990s reintroduced fewer than 100 wolves to the Northern Rockies after hunting, trapping and poisoning campaigns pushed the creatures to the point of extinction.The reintroduction happened over the protests of ranchers, who feared wolves would threaten livestock, and commercial outfitters, who blamed wolves for preying on prized game animals like elk.The Fish and Wildlife Service and the states sought for years to lift U.S. Endangered Species Act protections from the animals in Idaho and Montana but those efforts - which would clear the way for hunts - were blocked by environmentalists.Congress passed a measure in April removing wolves in the two states from the threatened and endangered species list. It was the first time federal protections had been lifted from an animal by congressional action rather than scientific review.Alliance and other groups are appealing an August decision by a federal judge upholding the delisting. Ninth Circuit judges have already denied a previous request by conservationists to stay wolf hunts in Idaho and Montana.A spokesman for Idaho Governor C. L. “Butch” Otter did not respond on Monday to a request for comment.
US STOCKS-Germany’s caution on debt plan sinks Wall St
* VIX surges as traders hedge against stock declines* Citigroup, Wells Fargo down after banks report results* Indexes off: Dow 2.1 pct, S&P 1.9 pct, Nasdaq 2 pctBy Angela MoonNEW YORK, Oct 17 (Reuters) - U.S. stocks suffered their
worst loss in two weeks on Monday after comments from
Germany’s finance minister caused investors to fear Europe’s
solution to its debt crisis may not come fast enough.The S&P index had risen for two straight weeks for the
first time since July, riding a wave of euphoria built on
optimism that European leaders had a newfound commitment to
tackle a crisis that threatened financial stability and global
growth.The rapid rally left the market susceptible to swift
declines. German Finance Minister Wolfgang Schaeuble, speaking
of an Oct. 23 European Union summit on the debt crisis,
tempered enthusiasm, saying, “we won’t have a definitive
solution this weekend.”U.S. bank earnings also contributed to the selling
pressure. Wells Fargo & Co shares fell 8.4 percent to
$24.42 after the U.S. lender financial results fell short of
expectations.The KBW Bank index lost 3.9 percent.”The German Finance Minister basically came out and sort
of ruined the expectation that a grand plan was coming along,
that some sizable fund was being put together to recapitalize
European banks,” said Stephen Massocca, fund manager with
Wedbush Morgan in San Francisco.”Depending on the development there, we could technically
get back down to the low end of the trading range, which is
about 1,100 on the S&P.”With that in mind, investors rushed to seek protection in
the options market against losses. The CBOE Volatility index
VIX , Wall Street’s so-called fear gauge, rose 18.2
percent to 33.39, its highest one-day jump since August.The VIX is a 30-day risk forecast of stock market
volatility conveyed by S&P 500 index options; it generally
moves inversely to the S&P benchmark.The Dow Jones industrial average was down 246.58
points, or 2.12 percent, at 11,397.91. The Standard & Poor’s
500 Index was down 23.72 points, or 1.94 percent, at
1,200.86. The Nasdaq Composite Index was down 52.93
points, or 1.98 percent, at 2,614.92.Trading volume was light, with just 6.87 billion shares
exchanging hands on the New York Stock Exchange, NYSE Amex and
Nasdaq for the day, well below the year’s daily average so far
of about 8 billion.Events in Europe overshadowed a $21 billion deal by Kinder
Morgan Inc to buy rival El Paso Corp , combining
the two largest natural gas pipeline operators in North
America in a huge bet on the fast-growing market for that
fuel.El Paso’s shares surged 24.8 percent to $24.45 and Kinder
Morgan shares jumped 4.8 percent to $28.19.Shares of Citigroup Inc fell 1.7 percent to $27.93.
The bank reported higher third-quarter earnings as it set
aside less money to cover bad loans and recorded an accounting
gain available to banks in turbulent markets.After the closing bell, IBM reported third-quarter
revenue that met expectations. The tech company ended 2 percent
lower at $186.59 during regular trading, but in after-hours
action IBM shares fell 3.6 percent more to $179.81 after
reporting results.Of the 45 companies in the S&P 500 that have reported
earnings, 62 percent have beaten analyst expectations,
according to Thomson Reuters data.Declining stocks outnumbered advancing ones on the NYSE
and the Nasdaq by a ratio of about 5 to 1.
Planning a trip? New app lets friends help
The app, called Trippy, links the users with friends in their social networks who have information on a particular city, either through living, studying, or traveling there, who can offer recommendations.”We’re in a less is more time now. If you want information on Tokyo, there are a thousand different sites, each with a thousand different ideas, reviews and comments that you’re forced to sift through,” said J.R. Johnson, founder and CEO of Trippy.”You need your friends who know you best to narrow the field and tell you where you should be spending your time.”The app is based on the idea that friends have an understanding of the likes and dislikes and the personal circumstances of the person planning the trip.It also allows users to access their itinerary while traveling, along with their friends’ tips for each venue. Each venue is plotted on a map, complete with its address and phone number.Users can also create a trip album and share photos directly from the venues that their friends recommended.”That’s something that falls through the cracks sometimes. Getting that thank you or acknowledgement back that they took you up on something you said,” said Johnson.Hotels can be booked directly through the Trippy website, which is how the company plans to generate revenue.Although there are many companies building applications on the social graph to deliver personalized recommendations, Johnson said the travel industry has been slow to adopt the technology.”In 1999, user-generated content was new and hot, and crowd-sourcing was what everyone was talking about at the time,” said Johnson, who founded travel review website VirtualTourist, which was bought by Expedia in 2008.But Johnson said fake reviews have hindered the crowd-sourcing model. He cited a recent study by Cornell University researchers who developed a computer algorithm for detecting bogus reviews on hotel websites.”If people are building algorithms to detect this then you know it’s a big problem,” he said.Competitors include Gogobot, a similar travel site that is also aiming to tailor travel recommendations based on a user’s social network, although there is less emphasis on the collaborative aspect.The Trippy app is available on the iTunes store.
UPDATE 1-Slovak president to meet party heads over interim govt
BRATISLAVA Oct 14 (Reuters) - Slovak President Ivan
Gasparovic said on Friday he would formally dismiss the fallen
government of Prime Minister Iveta Radicova and meet the heads
of political parties on Monday to discuss the shape of an
interim cabinet.Gasparovic met earlier with Radicova, whose government
collapsed on Tuesday after failing to ratify a deal boosting the
euro zone’s rescue fund in a parliamentary vote that was tied to
a confidence motion.The ruling coalition later passed the measure ratifying an
expansion of the European Financial Stability Facility in
another vote on Thursday after securing support from the
opposition by agreeing to hold an early election in March.Radicova’s cabinet will remain in office until a new
administration is formed. Coalition officials have not given
details on how it will operate and it is possible that it will
work only in a caretaker capacity.”I will dismiss the government and will have to name a new
government,” Gasparovic told journalists. “Therefore I have
decided that, Monday morning, I will summon the heads of the
parliamentary parties so we can decide on the next steps.”Gasparovic did not say exactly when he would dismiss the
government but said he had also met with opposition leader
Robert Fico, head of the leftist Smer party.Fico has said he will stay in opposition until the election
slated for March 10, which cuts the original term of the current
Slovak parliament in half.Slovakia’s most popular party by far with more than 40
percent support and 62 of the chamber’s 150 seats, Smer
supported the EFSF but held back its vote in the first ballot
because to trigger the government collapse.The most likely scenario now is probably a minority
government including Radicova’s SDKU party, the Christian
Democrats, and the centrist Most-Hid.They may find support from Smer, but their former fourth
coalition partner, the SaS party of free-marketeer Richard
Sulik, told a Czech newspaper on Friday that he would not
support them in a new administration.”Our ministers will undoubtedly be replaced. They will be
recalled. The government of three rightist parties will not have
the support of SaS,” Sulik said in an interview in Czech
newspaper Hospodarske Noviny.There is no time limit on when a new cabinet must be
appointed. If Gasparovic does not appoint one, Radicova’s
administration could technically stay on as a
government-in-demise in the five months until the election.
Radicova has not said whether she wants to stay in her post.
South African Markets - Factors to watch on Oct 14
DIARYFor South Africa corporate diary, click onFor southern and South Africa diary, click onCORPORATE* Telkom South Africa says in talks with KT
Corporation that would see the South Korean company take up a 20
percent stake after an issue of new Telkom shares of R36.06
each.* Annual general meeting for PeregrineSOUTH AFRICAN MARKETSResources firms such as Exxaro led South African
stocks lower on Thursday as miners took a knock after weak data
from China and disappointing earnings from the United States.The Top-40 index of blue chips shed 1.1 percent to
27,540.79, and the broader All-share index fell 0.9
percent to 30,834.39.South Africa’s rand turned weaker against the dollar in
late Johannesburg trade, giving back earlier slight gains as
fears of trade wars between China and the United States rattled
investors already jumpy over European debt woes.Government bonds also gave up the previous day’s gains and
yields jumped higher as investors sought the relative safety of
U.S. Treasuries despite the higher returns offered by local
debt.GLOBAL MARKETSAsian shares inched down on Friday, tracking New York and
European shares lower as weak Chinese trade data raised concerns
about the global economy, while the euro eased after another
sovereign debt ratings downgrade.MSCI’s broadest index of Asia Pacific shares outside Japan
eased 0.8 percent, but was set for a weekly gain
of about 4.7 percent, which would be the largest weekly increase
since late March, when the index ended the week up 4.8 percent.WALL STREETThe Dow and S&P 500 slipped on Thursday after JPMorgan’s
earnings and China’s soft trade data revived worries about the
impact of slower growth on profits.The Dow Jones industrial average fell 40.72 points,
or 0.35 percent, to end at 11,478.13. The Standard & Poor’s 500
Index shed 3.59 points, or 0.30 percent, to 1,203.66. But
the Nasdaq Composite Index gained 15.51 points, or 0.60
percent, to close at 2,620.24.GOLDGold traded flat on Friday but was headed for its biggest
weekly gains in more than a month, shrugging off the credit
rating downgrade of Spain ahead of a G20 meeting whose agenda
will be dominated by the euro zone debt crisis.EMERGING MARKETSFor the top emerging markets news, double click on- - - -Some of the main stories out in the South African press:BUSINESS DAY- Telkom talks with South Koreans over 20 pct stake- FAW and Isuzu to build plants at CoegaBUSINESS REPORT- Telkom resists Icasa plan to rent out capacity for less- State pushes IDC to grow SME lending
About World important news by Pearline
