bojuhlnielsen

Weidmann says ECB is not the only crisis manager: paper

Label: World

(Reuters) – Bundesbank chief Jens Weidmann warned against relying on the European Central Bank as the only crisis manager, telling a Finnish newspaper that its bond buyback program me was risky.

“Central banks in recent years have been pulled into the role of a crisis manager. Some think that central banks are the only able ones. I consider this thinking wrong and dangerous,” Weidmann, also ECB Governing Council member, told Helsingin Sanomat in an interview.

His comments were published in Finnish on the newspaper’s website on Sunday.

Weidmann reiterated his criticism of the ECB’s program of buying bonds on the secondary market of highly indebted euro member states.

“The program can bring considerable risks to the monetary policy. Those risks now have to be limited and prevented,” he was quoted as saying.

Weidmann said the greatest risk is that the cheaper financing takes away the incentive for fiscal reform.

“Monetary policy can only buy more time. It is like a painkiller which will not erase the reasons but can cause risks and side effects,” he said.

He also warned against Europe depending on the ECB to supervise banks in the banking union.

“That would mask the conflict of interest between the supervision task and monetary policy. I hope that the ECB would only serve as a helper,” he said.

(Reporting by Ritsuko Ando; Additional reporting by Jussi Rosendahl in Stockholm; Editing by Louise Heavens and Hans-Juergen Peters)

International News and Information on Yahoo! Finance

Title Post: Weidmann says ECB is not the only crisis manager: paper
Url Post: http://www.news.fluser.com/weidmann-says-ecb-is-not-the-only-crisis-manager-paper/
Link To Post : Weidmann says ECB is not the only crisis manager: paper
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Wall Street Week Ahead: Earnings, money flows to push stocks higher

Label: World

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.

The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.

Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.

Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.

"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.

Major technology companies also report next week, but the bar for the sector has been lowered even further.

Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.

Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.

Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.

CASH POURING IN, HOUSING DATA COULD HELP

Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.

The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.

"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."

Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.

Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.

The new home sales report on Friday is expected to show a 2.1 percent increase.

The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.

Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.

The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.

"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.

"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)

Baseball reflects on HOF pair Weaver, Musial

Label: Technology

One was born in St. Louis, the other became a star there.

Aside from that, Earl Weaver and Stan Musial were about as different as two Hall of Famers could be.

"Talk about your odd couple," said George Vecsey, the longtime sports columnist for The New York Times who wrote a recent biography of Musial.

Weaver was a 5-foot-6 rabble rouser whose penchant for quarreling with umpires belied a cerebral approach to managing that has stood the test of time. Musial was a humble slugger with a funky batting stance who was beloved by Cardinals fans and respected by pretty much everyone else.

Saturday began with news of Weaver's death at age 82, and by the end of the night Musial had died, too, leaving baseball to reflect on two distinguished careers rich in contrasts.

"Earl was well known for being one of the game's most colorful characters with a memorable wit, but he was also amongst its most loyal," Commissioner Bud Selig said.

Selig later released a statement after Musial's death at age 92.

"Stan's life embodies baseball's unparalleled history and why this game is the national pastime. As remarkable as 'Stan the Man' was on the field, he was a true gentleman in life," Selig said.

A three-time MVP and seven-time National League batting champion, Musial helped the Cardinals win three World Series championships in the 1940s. His popularity in St. Louis can be measured by the not one, but two statues that stand in his honor outside Busch Stadium. After his death Saturday, Cardinals of more recent vintage began offering condolences almost immediately.

"Sad to hear about Stan the Man, it's an honor to wear the same uniform," said a message posted on the Twitter account of Cardinals outfielder Matt Holliday.

Albert Pujols, who led St. Louis to World Series titles in 2006 and 2011 before leaving as a free agent before last season, offered prayers for Musial's family via Twitter.

"I will cherish my friendship with Stan for as long as I live," said a message posted on Pujols' site. "Rest in Peace."

Weaver was born in St. Louis, but his greatest success came as a manager in Baltimore. He took the Orioles to the World Series four times, winning one title in 1970.

Never a fan of small-ball strategies like bunting and stealing bases, Weaver preferred to wait for a three-run homer, always hoping for a big inning that could break the game open.

"No one managed a ballclub or pitching staff better than Earl," said Davey Johnson, who played under Weaver with the Orioles.

Johnson now manages the Washington Nationals and ran the Orioles from 1996-97.

"He was decades ahead of his time," Johnson said. "Not a game goes by that I don't draw on something Earl did or said. I will miss him every day."

While Musial could let his bat do the talking, Weaver was more than willing to shout to be heard. His salty-tongued arguing with umpires will live on through YouTube, and Orioles programs sold at the old Memorial Stadium frequently featured photos of Weaver squabbling.

Former umpire Don Denkinger remembered a game in which the manager disputed a call with Larry McCoy at the plate.

"Earl tells us, 'Now I'm gonna show you how stupid you all are.' Earl goes down to first base and ejects the first base umpire. Then he goes to second base and ejects the second base umpire. I'm working third base and now he comes down and ejects me," Denkinger said.

Musial was a quieter type who spent his career far removed from the bright lights of places like New York and Boston. But his hitting exploits were certainly on par with contemporaries Joe DiMaggio and Ted Williams.

"I knew Stan very well. He used to take care of me at All-Star games, 24 of them," Hall of Famer Willie Mays said. "He was a true gentleman who understood the race thing and did all he could. Again, a true gentleman on and off the field — I never heard anybody say a bad word about him, ever."

Dave Anderson of The New York Times recalled growing up in Brooklyn, rooting for Musial. Those Dodgers crowds helped give Musial his nickname, Stan the Man.

"I thought he was going to knock the fence down in Brooklyn, he'd hit it so often," Anderson said.

Musial did it despite an odd left-handed stance — with his legs and knees close together, he would cock the bat near his ear and twist his body away from the pitcher before uncoiling when the ball came.

If that was a lasting snapshot of Musial, the images of Weaver will stay just as fresh — the feisty manager, perhaps with his hat turned backward, looking up at an umpire and screaming at him before kicking dirt somewhere and finally leaving the field.

None of those histrionics should obscure the fact that in the end, Weaver often had the last laugh — to the tune of a .583 career winning percentage.

"When you discuss our game's motivational masters, Earl is a part of that conversation," Hall of Fame President Jeff Idelson said. "He was a proven leader in the dugout and loved being a Hall of Famer. Though small in stature, he was a giant as a manager."

Why Africa backs French in Mali

Label: Lifestyle

French-led Mali offensive

STORY HIGHLIGHTS

French intervention in Mali could be turning point in relationship with Africa, writes Lansana Gberie

France's meddling to bolster puppet regimes in the past has outraged Africans, he argues

He says few in Africa would label the French action in Mali as 'neo-colonial mission creep'

Lansana: 'Africa's weakness has been exposed by the might of a foreign power'

Editor's note: Dr. Lansana Gberie is a specialist on African peace and security issues. He is the author of "A Dirty War in West Africa: The RUF and the Destruction of Sierra Leone." He is from Sierra Leone and lives in New York.

(CNN) -- Operation Serval, France's swift military intervention to roll back advances made by Jihadist elements who had hijacked a separatist movement in northern Mali, could be a turning point in the ex-colonialist's relationship with Africa.

It is not, after all, every day that you hear a senior official of the African Union (AU) refer to a former European colonial power in Africa as "a brotherly nation," as Ambroise Niyonsaba, the African Union's special representative in Ivory Coast, described France on 14 January, while hailing the European nation's military strikes in Mali.

France's persistent meddling to bolster puppet regimes or unseat inconvenient ones was often the cause of much outrage among African leaders and intellectuals. But by robustly taking on the Islamist forces that for many months now have imposed a regime of terror in northern Mali, France is doing exactly what African governments would like to have done.

Lansana Gberie

This is because the Movement for Unity and Jihad in West Africa (MUJAO), Ansar Dine and al Qaeda in the Islamic Maghreb (AQIM) are a far greater threat to many African states than they ever would be to France or Europe.

See also: What's behind Mali instability?

Moreover, the main underlying issues that led to this situation -- the separatist rebellion by Mali's Tuareg, under the banner of the National Movement for the Liberation of Azawad (MNLA), who seized the northern half of the country and declared it independent of Mali shortly after a most ill-timed military coup on 22 March 2012 -- is anathema to the African Union and the Economic Community of West African States (ECOWAS).

Successful separatism by an ethnic minority, it is believed, would only encourage the emergence of more separatist movements in a continent where many of the countries were cobbled together from disparate groups by Europeans not so long ago.

But the foreign Islamists who had been allies to the Tuaregs at the start of their rebellion had effectively sidelined the MNLA by July last year, and have since been exercising tomcatting powers over the peasants in the area, to whom the puritanical brand of Islam being promoted by the Islamists is alien.

ECOWAS, which is dominated by Nigeria -- formerly France's chief hegemonic foe in West Africa -- in August last year submitted a note verbale with a "strategic concept" to the U.N. Security Council, detailing plans for an intervention force to defeat the Islamists in Mali and reunify the country.

ECOWAS wanted the U.N. to bankroll the operation, which would include the deployment a 3,245-strong force -- to which Nigeria (694), Togo (581), Niger (541) and Senegal (350) would be the biggest contributors -- at a cost of $410 million a year. The note stated that the objective of the Islamists in northern Mali was to "create a safe haven" in that country from which to coordinate "continental terrorist networks, including AQIM, MUJAO, Boko Haram [in Nigeria] and Al-Shabaab [in Somalia]."

Despite compelling evidence of the threat the Islamists pose to international peace and security, the U.N. has not been able to agree on funding what essentially would be a military offensive. U.N. Security Council resolution 2085, passed on 20 December last year, only agreed to a voluntary contribution and the setting up of a trust fund, and requested the secretary-general "develop and refine options within 30 days" in this regard. The deadline should be 20 January.

See also: Six reasons events in Mali matter

It is partly because of this U.N. inaction that few in Africa would label the French action in Mali as another neo-colonial mission creep.

If the Islamists had been allowed to capture the very strategic town of Sevaré, as they seemed intent on doing, they would have captured the only airstrip in Mali (apart from the airport in Bamako) capable of handling heavy cargo planes, and they would have been poised to attack the more populated south of the country.

Africa's weakness has, once again, been exposed by the might of a foreign power.
Lansana Gberie

Those Africans who would be critical of the French are probably stunned to embarrassment: Africa's weakness has, once again, been exposed by the might of a foreign power.

Watch video: French troops welcomed in Mali

Africans, however, can perhaps take consolation in the fact that the current situation in Mali was partially created by the NATO action in Libya in 2010, which France spearheaded. A large number of the well-armed Islamists and Tuareg separatists had fought in the forces of former Libyan leader Moammar Gadhafi, and then left to join the MNLA in northern Mali after Gadhafi fell.

They brought with them advanced weapons, including shoulder-launched anti-aircraft missiles from Libya; and two new Jihadist terrorist groups active in northern Mali right now, Ansar Dine and MUJAO, were formed out of these forces.

Many African states had an ambivalent attitude towards Gadhafi, but few rejoiced when he was ousted and killed in the most squalid condition.

A number of African countries, Nigeria included, have started to deploy troops in Mali alongside the French, and ECOWAS has stated the objective as the complete liberation of the north from the Islamists.

The Islamists are clearly not a pushover; though they number between 2,000 and 3,000 they are battle-hardened and fanatically driven, and will likely hold on for some time to come.

The question now is: what happens after, as is almost certain, France begins to wind down its forces, leaving the African troops in Mali?

Nigeria, which almost single-handedly funded previous ECOWAS interventions (in Liberia and Sierra Leone in the 1990s, costing billions of dollars and hundreds of Nigerian troops), has been reluctant to fund such expensive missions since it became democratic.

See also: Nigerians waiting for 'African Spring'

Its civilian regimes have to be more accountable to their citizens than the military regimes of the 1990s, and Nigeria has pressing domestic challenges. Foreign military intervention is no longer popular in the country, though the links between the northern Mali Islamists and the destructive Boko Haram could be used as a strategic justification for intervention in Mali.

The funding issue, however, will become more and more urgent in the coming weeks and months, and the U.N. must find a sustainable solution beyond a call for voluntary contributions by member states.

The opinions expressed in this commentary are solely those of Lansana Gberie.

Barbra Streisand to receive Lincoln Center’s Chaplin Award

Label: Health

NEW YORK (Reuters) – Barbra Streisand will add the Film Society of Lincoln Center’s Chaplin Award to her roster of honors, in recognition of her achievement as a director, writer, producer and film star, the group said on Friday.

Streisand, who shot to fame in the 1960s on Broadway and as a major recording star, will receive the honor at the 40th Annual Chaplin Award gala in New York on April 22 which will feature celebrity guests and a host of film and interview clips.

“The Board is very excited to have Barbra Streisand as the next recipient of The Chaplin Award,” Ann Tenenbaum, The Film Society of Lincoln Center’s board chairman, said in a news release.

“She is an artist whose long career of incomparable achievements is most powerfully expressed by the fact that her acclaimed ‘Yentl’ was such a milestone film.”

The group cited Streisand as the first American woman artist to receive credit as writer, director, producer and star of a major feature film.

It also noted she is the only artist to receive an Academy Award, Tony, Emmy, Grammy, Directors Guild of America award, Golden Globe, National Medal of Arts and Peabody Awards, France’s Legion d’honneur and the American Film Institute’s Lifetime Achievement Award. She was also the first female film director to receive a Kennedy Center honor.

“We welcome her to the list of masterful directors who have been prior recipients of the Chaplin Award Tribute,” added Tenenbaum, referring to luminaries such as Alfred Hitchcock, Billy Wilder and Martin Scorsese.

Stars ranging from Bette Davis and Elizabeth Taylor to last year’s recipient, Catherine Deneuve, have received the award, which was renamed for its first recipient Charles Chaplin, who returned to the United States from exile to accept the commendation in 1972.

Streisand, 70, starred in such hits as “The Way We Were” and “Funny Girl,” for which she won an Oscar, and went on to direct films including “The Prince of Tides” and “The Mirror Has Two Faces.”

More recently she has returned to screen acting, in “Meet the Fockers” with Dustin Hoffman, Ben Stiller and Robert De Niro, and “The Guilt Trip,” a Christmas 2012 release co-starring Seth Rogen.

(Reporting by Chris Michaud; Editing by Mohammad Zargham)

Movies News Headlines – Yahoo! News

Title Post: Barbra Streisand to receive Lincoln Center’s Chaplin Award
Url Post: http://www.news.fluser.com/barbra-streisand-to-receive-lincoln-centers-chaplin-award/
Link To Post : Barbra Streisand to receive Lincoln Center’s Chaplin Award
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Why Obama’s Gun Plan Didn’t Target Video Games

Label: Business

When President Obama revealed his proposal to curb gun violence on Wednesday, one industry largely went overlooked: video-game makers. Obama announced an executive order to end an industry-backed freeze on federal research into the linkage between violent behavior and violent content in games, and he recommended that Congress authorize $ 10 million for the U.S. Centers for Disease Control to conduct the research. But restrictions on the sale of violent games to minors, or scrutiny of the content of games, weren’t part of the package.

Earlier, it looked as if the administration might make more concrete demands of game makers. At the memorable press conference that the National Rifle Association held after the Newtown shooting, Wayne LaPierre pointed a finger at game developers. “There exists in this country, sadly, a callous, corrupt and corrupting shadow industry that sells and sows violence against its own people,” he said. “And then they all have the nerve to call it entertainment.”

Vice President Joe Biden, tasked with coming up with recommendations for the president, appeared to be listening to the NRA’s call. He asked executives from Electronic Arts (EA), ZeniMax Media, Take-Two Interactive (TTWO), Epic Games, and E-Line Media to the White House for a chat. But according to Chris Ferguson, a video-game expert who teaches psychology at Texas A&M and attended the meeting, Biden told the gaming executives he didn’t intend to call on them to change their business practices.

That may be because there isn’t much the White House can do to force them to change. The Supreme Court has already settled the question of whether the government can regulate game sales. In a 2011 decision, the court ruled on free speech grounds that the State of California couldn’t prohibit the sale of violent games to minors. The Court also cited a lack of evidence that playing games leads to violent behavior.

The game makers were wary when they walked in to meet Biden, says Ferguson. “They were in a defensive posture. They wanted to emphasize [the Supreme Court ruling] over and over.” Cheryl Olson, a public health expert who attended the meeting, says the executives were concerned the president would make an example of them. The editor of Gamasutra, the top website for game makers, warned fellow developers that even going to the meeting would be a mistake. As it turned out, they had nothing to worry about.

Businessweek.com — Top News

Title Post: Why Obama’s Gun Plan Didn’t Target Video Games
Url Post: http://www.news.fluser.com/why-obamas-gun-plan-didnt-target-video-games/
Link To Post : Why Obama’s Gun Plan Didn’t Target Video Games
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Couples Resorts and Casuarina Beach Club Conclude Negotiations for Almond Casuarina Beach Resort, Barbados

Label: World

MIAMI, FL–(Marketwire – Jan 19, 2013) – Glenn Lawrence, CEO Couples Resorts announced today that Couples Resorts and Casuarina Beach Club Limited have concluded negotiations for the lease of the 280 room Almond Casuarina Beach Resort, in Barbados, effective February 10, 2013.

Under Couples Resorts management, the resort will operate as Casuarina Beach Resort through May 31, 2013, offering the same facilities and amenities currently being provided. During the period of February 10 – May 31, Couples Resorts will embark on a US$ 3 million facilities and property upgrade program designed to bring the resort up the Couples Resorts standards. The upgrades will include:

New décor and amenities in public areas and guest rooms,

New pool and Jacuzzi,

New Spa and Salon,

New Gym with state-of-the-art equipment and designated Yoga gazebo,

New piano bar/lounge.

Effective June 1, 2013, the resort will be rebranded as Couples Barbados® and will become the island’s first and only all-inclusive resort exclusively for adult couples.

“We are thrilled to launch our first-ever venture in Barbados and believe this property located on the vibrant South Coast to be the perfect addition to the Couples Resorts family of boutique-style hotels,” states Couples Resorts’ CEO, Glenn Lawrence. “We look forward to introducing this resort to a new Couples audience and we are proud to provide our loyal Couples guests with another destination for them to call ‘home.’”

“Couples Barbados staff will surpass guest expectations for a Caribbean all-inclusive vacation by delivering the romance experience and quality inclusions synonymous with the Couples Resorts brand,” says Randy Russell, Couples’ Senior Vice President and Chief Romance Officer®.

“Our Barbados guests will enjoy:

Complimentary internet café and WIFI,

Unlimited premium brand drinks,

Gourmet dining options,

In-room dining,

24 hour food service,

Personalized mini-bars,

iPod/MP3 docking stations,

Piano/sports bar/lounge,

Tennis with instruction,

All taxes and gratuities

All set in a stunning beachfront location with lush gardens certain to reignite the spark that first brought the couple together.”

Couples Barbados will redefine the meaning of all-inclusive on the island by introducing an array of exclusive value-added inclusions, specifically:

Free Roundtrip transfers from Grantley Adams International Airport

Free weddings and renewal of vows

Free golf (transfers and greens fees) at The Barbados Golf Club

Free Glass Bottom Boat Ride, including swimming with Sea Turtles

Free Sunset Catamaran Cruise

Free Scuba Dive

Free Body Boarding, Wind Surfing, and Hobie Cat Sailing and Kayaking with instruction

Free Shuttle to Oistin’s Fish Fry — a Barbados MUST-DO

Guided Barbadian Green Monkey trail walk

About Couples Resorts:
Couples Resorts, headquartered in Montego Bay, Jamaica, owns and operates four properties in Jamaica — Couples Tower Isle, Couples Sans Souci, Couples Swept Away and Couples Negril — and now one in Barbados — Couples Barbados. Pioneered by the legendary Abe Issa, “the father of Jamaican tourism,” each Couples Resort is an unsurpassed model of the all-inclusive resorts concept, boldly designed with local inspiration to create a harmonic sense of nature and authentic Caribbean spirit. For over 35 years, Couples has delighted guests and refined the Caribbean all-inclusive resort experience by providing unparalleled service, exceptional dining experiences and exclusive added value inclusions. For further information please visit http://couples.com/.

About Almond Casuarina Beach Resort:
The hotel known as Almond Casuarina Beach Resort, which was for several years managed by Almond Resorts Inc, is the property of Casuarina Beach Club Ltd which is owned by Goddard Enterprises Limited, The Barbados Shipping & Trading Co. Limited and Almond Resorts Inc. (“Owners”). This announcement follows on from the decision of the Owners to divest their investment in Casuarina Beach Club.

Marketwire News Archive – Yahoo! Finance