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January 30, 2012

Sarkozy Says France to Tax Financial Transactions From August - Bloomberg

Filed under: USA, payday — Tags: , , , — Moon @ 12:08 pm

France plans to unilaterally impose a 0.1 percent tax on financial transactions starting in August, President Nicolas Sarkozy said, brushing aside opposition from the nation

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January 17, 2012

Europe Bailout Fund Says It Has Enough Cash to Deal With Sovereign Crisis - Bloomberg

Filed under: payday, uk — Tags: , , , — Moon @ 11:28 am

European officials said the euro region

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January 15, 2012

Divers in Italy ship wreck find 2 more bodies

Filed under: news, uk — Tags: , , , — Moon @ 8:28 pm

Coast guard divers searching the submerged part of the Costa Concordia on Sunday found the bodies of two elderly men still in their life jackets, authorities said, raising to five the death toll after the luxury cruise liner ran aground and tipped over off the Tuscan coast.

Divers scouring the bowels of the ship in the murky, cold sea discovered the bodies at the emergency gathering point near the restaurant where passengers were dining when the ship carrying more than 4,200 people hit a reef or rock near the island of Giglio, Coast Guard Cmdr. Cosimo Nicastro said.

The discovery reduced to 15 the number of people still unaccounted for after an Italian who worked in cabin service was pulled from the wreckage Sunday and a South Korean couple on their honeymoon were rescued late Saturday in the unsubmerged part of the liner when a team of rescuers heard their screams.

“We are still searching” for any bodies, “but (also) in the hope that there might have been an air pocket” to allow the survival of others, Nicastro told Sky TG24 TV dockside.

Authorities are holding the Italian captain for investigation of suspected manslaughter and abandoning his ship among other possible charges. According to the Italian navigation code, a captain who abandons a ship in danger can face up to 12 years in prison. A coast guard official said Sunday officers exhorted Francesco Schettino to return to his ship as panicked passengers desperately fled the cruise liner.

The chaotic evacuation has added to the difficulty in tracking down survivors _ with six of those unaccounted for crew members and the others passengers. Two of the unaccounted for passengers are American, the U.S. Embassy in Rome said.

In the first hours after the accident late Friday night, three bodies were found in the waters near the ship. The victims discovered Sunday were two elderly men who were wearing life vests, said Coast Guard Cmdr. Francesco Paolillo.

“The divers had to remove the life vests to get the bodies out,” he said, because they could have floated away. Their nationalities were not immediately released.

The divers’ search through the ship, which is lying on its side with a huge gash, was already dangerous because of the risk the vessel could suddenly move and sink into waters over a nearby lower sea bed.

Their safety was increasingly threatened by floating objects in the belly of the 290-meter (nearly 1,000) foot long liner, as well as muck drastically reducing visibility, Nicastro said.

“There are tents, mattresses, other objects moving which can get tangled in the divers’ equipment,” Nicastro said. Officials were going to huddle soon to see how long the underwater search could safely continue, he said.

Divers say they are using a kind of long cord they hook near the point of entrance and unroll as they work, so they can find their way out when finished.

Prosecutor Francesco Verusio confirmed reports that prosecutors are investigating allegations the cruise liner’s captain, Francesco Schettino, abandoned the stricken liner before all the passengers had escaped.

Asked Sunday by Sky TG24 about the accusations, Grosseto prosecutor Francesco Verusio replied, “unfortunately, I must confirm that circumstance.”

Paolillo said the captain was spotted on land during the evacuation. Officers had urged him to return to his ship and honor his duty to stay aboard until everyone else was safely off the vessel, but Schettino ignored them, he said.

“We did our duty,” Paolillo told The Associated Press.

A French couple who boarded the Concordia in Marseille, Ophelie Gondelle and David Du Pays of Marseille, told the AP they saw the captain in a lifeboat, covered by a blanket, well before all the passengers were off the ship. They insisted on telling a reporter what they saw, so incensed that _ according to them _ the captain had abandoned the ship before everyone had been evacuated.

“The commander left before and was on the dock before everyone was off,” said Gondelle, 28, a French military officer.

“Normally the commander should leave at the end,” said Du Pays, a police officer who said he helped an injured passenger to a rescue boat. “I did what I could.”

Schettino has said the ship hit rocks that weren’t marked on his nautical charts, and that he did all he could to save lives.

“We were navigating approximately 300 meters (yards) from the rocks,” he told Mediaset television. “There shouldn’t have been such a rock.”

He insisted he didn’t leave the liner before all passengers were off, saying “we were the last ones to leave the ship.” That clearly wasn’t the case as the finding of the three survivors aboard Saturday night and Sunday showed payday loan no faxing.

Coast guard spokesman Capt. Filippo Marini told Sky Italia TV that Coast Guard divers have recovered the so-called “black box” with the recording of the navigational details from a compartment now under water.

A Dutch firm has been called in to help extract the fuel from the Concordia’s tanks before any leaks into the area’s pristine waters. No leaks have so far been reported.

While ship owner Costa has insisted it was following the same route it takes every week between the Italian ports of Civitavecchia and Savona, residents on the island of Giglio said they had never seen the Costa come so close to the Le Scole reefs and rocks that jut from Giglio’s eastern side.

“This was too close, too close,” said Italo Arienti, a 54-year-old sailor who has worked on the Maregigilo ferry service that runs between the island and the mainland for more than a decade. A now-retired Costa commander used to occasionally do “fly-bys” on the route, nearing a bit and sounding the siren in a special salute for his hometown, he said. Such a fly-by was staged last August, but there was no incident, he said.

He said the cruise ship always stayed more than five to six nautical miles offshore, well beyond the reach of the “Le Scole” reefs, popular with scuba divers.

The terrifying escape from the luxury liner, which was on a weeklong Mediterranean cruise, was straight out of a scene from “Titanic.” Many passengers complained the crew didn’t give them good directions on how to evacuate and once the emergency became clear, delayed lowering the lifeboats until the ship was listing too heavily for many to be released.

Several other passengers said crew members told passengers for 45 minutes that there was a simple “technical problem” that had caused the lights to go off.

Amateur footage taken aboard the ship showed the situation immediately after it ran aground, as an announcement in various languages tells passengers the liner is having electrical problems and “the situation is under control.” When a man asks a crew member in Spanish why he is wearing a life vest, the crew member doesn’t answer and continues on his way.

Other video shows people crowded together in life jackets, apparently calm and waiting to disembark the ship. A third video taken from a lifeboat, shows mostly darkness as people shout and scream in panic.

Passengers said they had never participated in an evacuation drill, although one had been scheduled for Saturday. The cruise began on Jan. 7.

Costa Crociera SpA, which is owned by the U.S.-based cruise giant Carnival Corp., defended the actions of its crew and said it was cooperating with the investigation. Carnival Corp. issued a statement expressing sympathy that didn’t address the allegations of delayed evacuation.

Some 300 of the crew members were Filipinos and three of them were injured, the Philippine Department of Foreign Affairs said.

The captain has insisted that the reef was not marked, but locals said the stretch of sea is not difficult to maneuver. Anello Fiorentino, captain of a ferry that runs between Giglio and the mainland, said he makes the crossing every day without encountering problems.

“Yes, if you get near the coast there are reefs, but this is a stretch of sea where all the ships can safely pass,” he said.

Islanders on Giglio opened up their homes and businesses to accommodate the sudden rush of survivors. Rossana Bafigi, who runs a newsstand, said she was really moved by the reaction of the passengers.

She showed a note left by one Italian family that said, “We want to repay you for the disturbance. Please call us, we took milk and biscuits for the children. Claudia.”

At Mass on Sunday morning in Giglio’s main church, which opened its doors to the evacuees Friday night, altar boys and girls brought up to the altar a life vest, a rope, a rescue helmet, a plastic tarp and some bread.

Don Lorenzo, the parish priest, told the faithful that he wanted to make this admittedly “different” offering to God as a memory of what had transpired.

He said each one carried powerful symbolic meaning for what happened on Friday night: the bread that multiplied to feed the survivors, the rope that pulled people to safety, the life vest and helmet that protected them, and the plastic tarp that kept cold bodies warm. “Our community, our island will never be the same,” he told the few dozen islanders gathered for Mass.

_____

Frances D’Emilio contributed to this story from Rome.

Source

January 11, 2012

Nintendo gives 2nd glimpse of Wii U game machine

Filed under: legal, money — Tags: , , , — Moon @ 12:20 am

Nintendo Co.’s upcoming Wii U game console will come with a controller that has a big, touch-enabled screen. At first glance, that seems like an obstacle to the kind of casual multiplayer gaming that made the first Wii console such a breakout hit.

But in demonstrations Tuesday, the company emphasized that the Wii U will work with the cheaper, stick-like Wii controllers as well, making family multiplayer games feasible.

The Japanese company is giving some journalists hands-on time with the console on the sidelines of the International Consumer Electronics Show, which started Tuesday in Las Vegas.

It’s the second time the U.S. media is getting a glimpse of the device, which was first shown in June. Nintendo said the device will go on sale after the next Electronic Entertainment Expo gaming trade show in Los Angeles in June.

Nintendo went against conventional wisdom with the original Wii in 2006. The quirky, cheap game console relied not on high-end graphics and complex buttons to lure in hardcore players, but on simple motion controls to lure in everyone.

Although the company successfully courted casual gamers with the Wii, it is now facing increased competition from Apple Inc.’s iPhone and other devices that offer simple games. It had hoped to win new gamers through a 3-D handheld device. But sales were slow, and Nintendo slashed prices on the 3DS within six months.

The Wii U will be sold as a bundle with one touch-screen controller, which is almost as big as the game console itself. Nintendo hasn’t said what the package or an extra controller will cost. Touch screens are expensive, often accounting for nearly half of the cost of a phone or a tablet computer.

Nintendo’s demonstrations reveal that the touch-screen controller is designed to work with older controllers free credit report and score. For example, in one of Nintendo’s demonstration games, four players with Wii remotes chase a fifth, who uses the touch controller. The fifth player uses the screen on the controller to guide his movements, which are thus kept secret from the other players. The other players keep track of their own movements on the TV screen.

In another demonstration game, two players with Wii remotes collaborate to fight a third, who zooms around in a spaceship, controlled through the touch controller.

The integration of the older remotes and the touch controller goes even further. The existing Wii console is able to keep track of where the old-style Wii remotes are with the help of a “sensor bar” that attaches to the TV set. That’s how the Wii remote can be used to “point” to things on the screen. The new Wii U controller has its own sensor bar, so the Wii U can figure out where a Wii remote is in relation to the controller, not just the TV set.

This sounds complicated, but it enables simple, unexpected forms of game play. For instance, Nintendo showed in a video how the Wii U controller could be placed on the floor for a golf game. The screen of the controller shows a teed-up golf ball. Swinging a Wii remote like a golf club above the controller gets the ball flying.

While the ability to use older remotes will appeal to consumers, supporting multiple remotes could pose a challenge for game developers, who might decide to drop support for older hardware. To make things more complicated, there are two versions of the Wii remote, with differing motion-sensing abilities, and an accessory “Nunchuck” controller.

Source

January 7, 2012

Consumer Watchdog Targets Mortgage Firms - Bloomberg

Filed under: finance, marketing — Tags: , , , — Moon @ 5:16 pm

Richard Cordray

January 6, 2012

Euro slides to 15-month low as investors fret over Europe

Filed under: Homebuilder, caredit — Tags: , , , — Moon @ 3:00 am

LONDON

January 5, 2012

Asia stocks mixed after flat Wall Street trading

Filed under: caredit, finance — Tags: , , , — Moon @ 5:12 am

Asian stock markets were mixed early Thursday, following flat trading on Wall Street as renewed worries over Europe’s banking system and a strong yen weighed on investor sentiment.

Japan’s Nikkei 225 index fell 0.5 percent to 8,514.03, while South Korea’s Kospi index gained 0.2 percent to 1,870.96. Hong Kong’s Hang Seng Index rose 0.3 percent to 18,787.21. Australia’s S&P ASX 200 fell 1.2 percent at 4,139.70.

Benchmarks in Singapore and Taiwan were higher while those in Malaysia and New Zealand were lower.

In Tokyo, the yen’s rise against the euro elicited fears of more pain ahead for Japanese exporters. The euro sank to 98.71 yen on Monday in European trading, which Japan’s Kyodo News said was an 11-year low. The euro remained under selling pressure as it hovered around 99.72 yen Thursday.

On Wednesday, European markets declined after another increase in Italy’s borrowing costs renewed worries about the continent’s efforts to restore confidence in its debt-hobbled governments. Additionally, UniCredit _ Italy’s biggest bank _ said it would offer stock at a 69 percent discount to raise cash guaranteed unsecured personal loan. The size of the discount escalated worries about the state of Europe’s banking sector.

Stocks barely budged in the U.S. The Dow Jones industrial average edged up 0.2 percent to close at 12,418.42. The Dow opened the year Tuesday with a 180-point gain that brought it to its highest level since July.

The Standard & Poor’s 500 index inched up less than 0.1 percent to close at 1,277.30. The Nasdaq fell marginally to 2,648.36.

Benchmark oil for February delivery fell 35 cents to $102.87 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 26 cents to end at $103.22 per barrel on the Nymex on Wednesday.

In currencies, the euro fell to $1.2930 from $1.2938 late Wednesday in New York. The dollar slipped to 76.72 yen from 76.75 yen.

Source

December 30, 2011

Australia Home Prices Drop 3.7% on Concern Europe Crisis May Damp Growth - Bloomberg

Filed under: loans, marketing — Tags: , , , — Moon @ 1:16 pm

Home prices in Australia

December 29, 2011

Retail sales resilient in final holiday stretch

Filed under: caredit, technology — Tags: , , , — Moon @ 1:36 am

Retail sales look poised for a solid finish to the holiday season as consumers hit stores and went online to snap up last-minute gifts, according to data released on Wednesday.

Still, overall sales growth lagged the increase in online spending and some brick-and-mortar retailers struggled. Steep discounts were prevalent throughout the season, tactics that drove sales but could crimp profitability at some chains.

The International Council of Shopping Centers/Goldman Sachs weekly chain store sales index rose 4.5 percent during the week ending December 24, versus a holiday-shortened pre-Christmas Day week in 2010. Redbook Research put the year-over-year gain at 4.3 percent.

Adjusted for the calendar mismatch, the ICSC/Goldman index rose 0.9 percent for the week ending December 24, compared with the prior week.

“The finish is solid and the season itself was good,” said ICSC Chief Economist Michael Niemira. “November was on the soft side but December will be better.”

ICSC is sticking with its holiday sales growth forecast of 3.5 percent, which it issued in September.

“Major players, such as Macy’s (M.N: Quote, Profile, Research, Stock Buzz), are fine,” Niemira added. “Specialty stores are likely to be more uneven. Specialty apparel seems to have been hit by abnormally warm weather. Sales were on the slow side and there has been more discounting consequently.”

The biggest shopping malls and regional malls saw the strongest customer traffic since the first week of 2011. Factory outlets remained busy, but less so than the prior week, he said.

Consumers ratcheted down their online spending compared with

earlier in December, but visits to and spending at electronics and department stores increased during the week, Niemira noted.

U.S. consumer confidence rose more than expected in December, hitting an eight-month high, as Americans grew more upbeat about the labor market and their financial situation, the Conference Board said on Tuesday. That followed a report early in December showing U.S. unemployment at the lowest level since March 2009.

However, U.S. house prices are still falling, tempering economic optimism, and some retailers are suffering.

Sears Holdings Corp (SHLD.O: Quote, Profile, Research, Stock Buzz) said on Tuesday that it will shut as many as 120 stores after poor sales. Borders Group (BGPIQ.PK: Quote, Profile, Research, Stock Buzz) and Filene’s Basement were among retailers that filed for bankruptcy protection from creditors this year, and shut down, with Filene’s stores set to close shortly.

Part of the problem may be competition with online retailers, who saw faster sales growth this holiday season, suggesting e-commerce took market share from brick-and-mortar stores.

Online spending in the United States reached a record $35.27 billion from November 1 through December 26, up 15 percent versus the corresponding period last year, comScore (SCOR.O: Quote, Profile, Research, Stock Buzz) reported.

For the week ending December 25, consumers spent $2.83 billion online, up 16 percent from the corresponding period in 2010, comScore also said.

“E-commerce is going to be awesome this holiday and retail will be mediocre,” said Michael Rubin, head of Kynetic, which owns online retail businesses Fanatics, Rue La La and ShopRunner.

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December 15, 2011

Stocks drop sharply amid euro, U.S. worries

Filed under: legal, news — Tags: , , , — Moon @ 5:52 am

TORONTO

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