South Africa protesters burn tyres, loot shops






JOHANNESBURG (Reuters) – Thousands of South Africans burnt tyres and vehicles, barricaded streets and looted shops in the industrial town of Sasolburg near Johannesburg on Monday, the worst social unrest this year around the commercial hub of Africa’s biggest economy.


Three police officers were injured when a mob threw stones at them in the town, 90 km (55 miles) south of Johannesburg, Constable Peter Kareli said.






In return, 50 officers fired rubber bullets and stun grenades and deployed water cannons to disperse the rioters, who went on the rampage because of a plan to move local government boundaries, he added.


“These people are attacking us in groups at different locations so it is difficult for us to control them,” he said.


Some of the crowd were armed with knives, machetes and firearms and police had made at least 130 arrests since the violence broke out on Sunday, he added.


Sasolburg is home to the 108,000 barrels-per-day Natref refinery, owned by petrochemicals group Sasol and oil major Total. Kareli said the refinery was not in danger.


Violent protests erupt periodically in South Africa’s predominantly black townships, which have seen little improvement in living standards since the end of apartheid in 1994.


(Reporting by Agnieszka Flak; Editing by Ed Cropley)


Economy News Headlines – Yahoo! News





Title Post: South Africa protesters burn tyres, loot shops
Url Post: http://www.news.fluser.com/south-africa-protesters-burn-tyres-loot-shops/
Link To Post : South Africa protesters burn tyres, loot shops
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




Read More..

Can Your Portfolio Supply You With the Retirement Income You Need?






My recent articles featuring bucketed retirement portfolios–both traditional mutual fund and exchange-traded fund versions–sparked many insightful comments. The bucketing concept has resonated with many retirees and pre-retirees because it helps turn a portfolio geared toward accumulation into one that provides in-retirement income. It also enables a retiree or pre-retiree to back into a logical stock/bond/cash mix given his or her time horizon.


An essential first step before creating any retirement portfolio–bucketed or otherwise–is to determine whether that portfolio can deliver the income you need from it. Coming up with a safe withdrawal rate–the amount that you can withdraw from a portfolio per year without depleting it during your lifetime–is an essential part of the retirement planning process and has been the subject of much discussion among Morningstar.com readers. Retirement calculators can help you get your arms around whether your planned withdrawal rate is reasonable, but you can also run the numbers yourself, thereby employing the withdrawal rate method of your choice. Here are the key steps to take.






1. Determine the Paycheck You Need From Your Portfolio
If you’re attempting to create the equivalent of a paycheck from your portfolio, the first step is to gauge your income needs during retirement, either on an annual or a monthly basis. Start by tallying your total expenditures, then subtract steady sources of income that you can rely on, including Social Security and pension income. What’s left over is the amount that you’ll need to extract from your portfolio each month or each year.


2. Choose Your Distribution Method
Next, determine the strategy you’ll use for extracting the money from your portfolio. Among the most popular methods are the income-only approach, whereby you subsist on whatever income your holdings kick off; the fixed-percentage method, whereby you withdraw a fixed percentage of your portfolio per year; and the fixed-dollar amount plus inflation adjustment method, which is the approach underlying the 4% rule for retirement portfolio withdrawals. These approaches all have pluses and minuses. This article (http://news.morningstar.com/articlenet/article.aspx?id=556353) provides an overview of the various strategies; in this video (http://www.morningstar.com/cover/videocenter.aspx?id=565731), Morningstar Investment Management’s director of retirement research David Blanchett discusses the results of his stress test of the various strategies.


3. Check Its Viability
If you’re using the income-only approach, you can test the viability of your strategy by looking at the income your portfolio currently kicks off and comparing that amount to your desired income level. Of course, the income you’re receiving today might not be there tomorrow, but with bond and dividend yields as low as they are, it’s not unreasonable to use today’s yields as a proxy for future income distributions.


If you’re using the fixed-percentage method, the beauty of the strategy is that you’ll never run out of money, so sustainability isn’t an issue. But livability is: Under the fixed-withdrawal method, your income will fluctuate from year to year depending on how your portfolio performs. If the initial withdrawal amount is reasonable and you’re comfortable with the uncertainty of a fluctuating income stream, then such a method is a good fit.


If you’re withdrawing a level dollar amount from your portfolio per year, you’ll have the peace of mind of a predictable income stream. But you’ll first need to evaluate whether your desired portfolio withdrawal amount is too large or just about right. One widely used rule of thumb is that an initial withdrawal amount of 4% of your balance, combined with annual upward adjustments to accommodate inflation, is a safe withdrawal amount. This article (http://news.morningstar.com/articlenet/article.aspx?id=367298) uses a worksheet to walk you through some of the key variables, but it’s helpful to sample an array of opinions on this all-important important topic. For another check, Morningstar’s Asset Allocator tool, T. Rowe Price’s Retirement Income Calculator, and Fidelity’s Retirement Income Planner can help you determine whether your current portfolio can deliver the dollar amount you need during retirement. (Just bear in mind that some of these tools are using fairly rosy return expectations for stocks.)


A version of this article appeared Dec. 10, 2012.


See More Articles by Christine Benz


Yahoo! Finance – Personal Finance





Title Post: Can Your Portfolio Supply You With the Retirement Income You Need?
Url Post: http://www.news.fluser.com/can-your-portfolio-supply-you-with-the-retirement-income-you-need/
Link To Post : Can Your Portfolio Supply You With the Retirement Income You Need?
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




Read More..

European shares test two-year highs, yen volatile before BOJ

LONDON (Reuters) - European shares inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented demand for safe-haven assets.


U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.


European shares <.fteu3> were supported by the news <.eu>, but with no clear response from the Democrats and a thin session expected due to a market holiday in the United States, the impact on other assets such as Bunds is likely to be limited.


An early morning push by London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> was beginning to fade by mid-morning, leaving the pan-European FTSEurofirst 300 up 0.1 percent and MSCI's world index <.miwd00000pus> steady at a 20-month high. <.l><.eu/>


"There's a bit of encouragement coming out of the U.S.," said Toby Campbell-Gray, head of trading at Tavira Securities in Monaco.


He added that equity markets had remained resilient in the face of an uncertain economic outlook as many investors had stepped in to buy "on the dip" on days when shares had fallen.


Ahead of the region's first finance ministers' meeting of the year, the euro was down slightly at just over $1.33 against the dollar, while the yen firmed after touching a new low, ahead of a Bank of Japan decision expected to deliver bold monetary easing.


According to sources familiar with the Bank of Japan's thinking, the government of new Prime Minister Shinzo Abe and the central bank have agreed to set 2 percent inflation as a new target, supplanting a softer 1 percent 'goal'.


The dollar rose to as high as 90.25 yen earlier on Monday, its highest since June 2010. It later slipped 0.7 percent on the day to 89.39 yen, as traders cut short positions given the BOJ has often fallen short of market expectations.


"Investors are being mindful that the moves we have seen over the course of the last month or two are just worth locking in at least until we understand how the BOJ are really going to play in the future," said Jeremy Stretch, head of currency strategy at CIBC World Markets.


CURRENCY WAR


Japanese equities have surged in recent weeks in anticipation of a more aggressive monetary policy stance, but not everyone is happy.


The slump in the yen has prompted Russia's deputy central bank governor to warn of a new round of 'currency wars' and the medium-term risk of running ultra-loose monetary policies is likely to be a theme of the World Economic Forum in Davos, which opens on Wednesday.


With little in the way of economic data or debt issuance and U.S. markets shut for the Martin Luther King public holiday, the rest of the day was expected to be a fairly quite day for investors.


In bond markets, German Bund yields rose close to the top of this year's 30 basis points range, after Republican lawmakers' efforts to give the U.S. government leeway to pay its bills for another three months. Most other euro zone bonds were trading virtually flat.


The U.S. Treasury needs congressional authorisation to raise the current $16.4 trillion limit on U.S. debt sometime between mid-February and early March. A failure to achieve that could lead to a debt default.


"This is part of the political game, it remains to be seen whether the Democrats will accept it," KBC strategist Piet Lammens said, adding that investors' working scenario was that a solution to raise the ceiling would be eventually found anyway.


OIL OVERSUPPLY


German markets showed no reaction after the country's centre-left opposition party edged Chancellor Angela Merkel's conservatives from power in a regional election on Sunday, reviving its flagging hopes for September's national election.


Oil prices took their cues from a report in the United States at the end of last week that showed consumer sentiment at its weakest in a year as a result of the uncertainty surrounding the country's debt crisis.


Concerns about demand overshadowed supply disruption fears reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.


Brent futures were down by 17 cents to $111.72 per barrel by 1030 GMT. U.S. crude shed 40 cents to $95.16 per barrel after touching a four-month high last week.


"The over-riding fundamental feeling in the market is that crude oil is over-supplied in 2013," said Tony Nunan, an oil risk manager at Mitsubishi.


Last week's data showing a pick-up in the Chinese economy helped keep growth-sensitive copper prices steady at roughly $8,058 an ounce. Gold, meanwhile, reversed Friday's losses to stand at $1,688 an ounce.


(Additional reporting by Sudip Kar-Gupta, Marious Zaharia and Anooja Debnath; Editing by Will Waterman and Giles Elgood)



Read More..

Harbaugh brothers take 49ers, Ravens to Super Bowl


This Super Bowl will be filled with firsts — and one significant last.


The Harbaughs, San Francisco's Jim and Baltimore's John, will be the first pair of brothers to coach against each other in the NFL title game.


Quarterbacks Colin Kaepernick of the 49ers and Joe Flacco of the Ravens each will be playing in his first Super Bowl — where success is the ultimate measure of elite QBs.


It'll be Baltimore's first crack at a championship in a dozen years, San Francisco's first in 18. They are a combined 6-0 in Super Bowls (the 49ers own five of those victories), so one club will lose the big game for the first time.


And middle linebacker Ray Lewis, Baltimore's emotional leader and top tackler, will be playing in the final game of his 17-year career before heading into retirement.


"This is our time," Lewis pronounced.


For all of those story lines, none is expected to command as much attention as Harbaugh vs. Harbaugh. The game in New Orleans on Feb. 3 was quickly given all manner of nicknames: The Brother Bowl. The Harbaugh Bowl. The Har-Bowl. The Super-Baugh.


The Harbaughs' sister, Joani Crean, wrote in a text to The Associated Press: "Overwhelmed with pride for John, Jim and their families! They deserve all that has come their way! Team Harbaugh!"


As John prepared to coach the Ravens in the AFC championship game Sunday night, he watched on the stadium's big video screen as Jim's 49ers wrapped up the NFC championship.


John looked into a nearby TV camera, smiled broadly and said: "Hey, Jim, congratulations. You did it. You're a great coach. Love you."


Less than four hours later, the Ravens won, too. Some siblings try to beat each other in backyard games. These guys will do it in the biggest game of all.


Who's a parent to cheer for?


During the 2011 regular season, the Harbaughs became the only brothers to coach against each other in any NFL game (the Ravens beat the 49ers 16-6 on Thanksgiving Day that year).


The NFC West champion 49ers (13-4-1) opened as 5-point favorites, seeking a record-tying sixth Super Bowl title to add to those won by Hall of Fame quarterbacks Joe Montana and Steve Young.


Lewis was the MVP when the AFC North champion Ravens (13-6) beat the New York Giants in 2001.


With Kaepernick's terrific passing — he was 16 of 21 for 233 yards and a touchdown in only his ninth career NFL start — and two TD runs by Frank Gore, San Francisco erased a 17-point deficit to beat the Atlanta Falcons 28-24 Sunday.


Baltimore then fashioned a comeback of its own, scoring the last 21 points to defeat the New England Patriots 28-13, thanks in large part to Flacco's three second-half touchdown tosses, two to Anquan Boldin. Lewis and the rest of Baltimore's defense limited the high-scoring Patriots to one touchdown.


In the often risk-averse NFL, each Harbaugh made a critical change late in the regular season in a bid to boost his team's postseason chances. Clearly, both moves worked.


After 49ers quarterback Alex Smith, the starter in last season's overtime NFC title game loss to the Giants, got a concussion, Jim switched to Kaepernick for Week 11 — and never switched back. Now San Francisco has its first three-game winning streak of the season, at precisely the right time.


Baltimore, meanwhile, was in the midst of a three-game losing streak when John fired offensive coordinator Cam Cameron and promoted quarterbacks coach Jim Caldwell to replace him.


The 50-year-old John is 15 months older than Jim and generally the less demonstrative of the pair, although John certainly did not lack intensity while making his case with officials a couple of times Sunday.


The ever-excitable Jim — who was treated for an irregular heartbeat in November — was up to his usual sideline antics in Atlanta.


He spun around and sent his headset flying when the original call stood after he threw his red challenge flag on a catch by the Falcons. He hopped and yelled at his defense to get off the field after their key fourth-down stop with less than 1½ minutes left. He made an emphatic-as-can-be timeout signal with 13 seconds remaining.


Expect CBS to fill plenty of time during its Super Bowl broadcast with shots of Jim, that trademark red pen dangling in front of his chest, and John, who usually wears a black Ravens hat. That is sure to be a focal point, right up until they meet for a postgame handshake in two weeks' time.


___


AP Sports Writer Janie McCauley in San Francisco contributed to this report.


___


Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


Read More..

Mali war turns musicians into military



































French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive





<<


<





1




2




3




4




5




6




7




8




9




10




11




12




13




14




15




16




17




18




19




20




21




22




23




24




25




26




27




28



>


>>







STORY HIGHLIGHTS


  • Until recently, Mali was better known for its music, mosques and manuscripts than for conflict

  • Andy Morgan: Music and culture are Mali's shop-window to the world, its primary asset

  • Conflict turns musicians, artists and writers into frontline soldiers, says Morgan

  • Morgan: In Mali they're still singing, still writing, still fighting




Editor's note: Andy Morgan recently ended a seven-year stint as manager of Touareg rockers Tinariwen, leaving the music industry after 29 years to concentrate on writing. He has contributed features and reviews to The Independent, fRoots, Songlines, NME and Rolling Stone, and is currently working on books about the Sahara and West Africa.


(CNN) -- It's safe to assume that most people outside West Africa had never even heard of Mali until a few weeks ago. If they had, there's a good chance it was thanks to some beautifully flowing song or instrumental by one of the country's many world-renowned musicians: Salif Keita, Tinariwen, Oumou Sangare, Toumani Diabate, Rokia Traore... the list is long.


If it wasn't music then it might have been Mali's priceless medieval manuscripts that drew their attention, or its majestic mud-built mosques, its filmmakers, poets, photographers and writers.


Like Jamaica or Ireland, Mali's music and culture are its primary asset, its shop-window to the world, its "gold and cotton" as one famous musician put it.



Andy Morgan is a world music journalist and former manager of Touareg band Tinariwen.

Andy Morgan is a world music journalist and former manager of Touareg band Tinariwen.



Certainly, very few people would have included the words "Mali" and "Islamism" in the same sentence before April last year, when Islamist militia took control of over two thirds of the country and started amputating the hands of thieves, stoning adulterers and whipping women who happened to venture out into the streets 'improperly' dressed.


With the arrival of French forces and the mass hostage seizure at the Algerian oil facility of In Amenas, Mali and Islamism are two words that now appear not only to be inextricably linked but on the front page.


Six reasons why Mali matters








Of course, the association goes back much further than April 2012.


Al Qaeda and the Islamic Maghreb (AQIM) moved south from Algeria and into Mali's remote northern deserts over a decade ago. It proceeded to amass a fortune from kidnapping, smuggling and money laundering whilst undermining the local economy, disrupting social relations and destroying the local tourist industry.


It brought along a hardcore form of Islam inspired by Wahabism and a hatred of the West that was previously almost unheard of in Mali, a country which has long contented itself with gentler and more tolerant brands of Sufism richly tinted by local pre-Islamic beliefs.


AQIM also managed to hijack a rebellion against the central government in Bamako by the nomadic Touareg people of the north that had been grinding on and off for the best part of fifty years.


This conflict, which first erupted in 1963, was always about power, influence and the self-determination of a marginalized people. It was also about preserving the Touareg's unique Berber culture. It had never been about imposing hard line Islam on anyone. But from round 2006 onwards, Touareg nationalism and Islamic terrorism became inextricably confused with each other.


Why Africa backs French in Mali


Indeed, there's a widespread theory, confirmed by the word of just a few bit-players in the drama but lacking any more conclusive evidence, that certain parties who were utterly averse to the idea of an independent Touareg state -- the Malian government, Algeria and others -- either deliberately implanted AQIM in the region, or at the very least tolerated its presence there.


It was hoped that the strategy would attract military aid and doom the Touareg nationalist project to failure. The theory might seem strange given the damage that terrorism has wrought in both Mali and Algeria but most Touareg I know accept it as gospel. We'll probably never know the whole truth.








What's certain is that the Sahara is one of the hardest places on earth for an outsider to understand. Its interlocking cogs of power and influence -- geopolitical, regional, governmental, tribal, mineral, criminal, spiritual, clan and family -- are fiendishly complex.


No foreign intervention can hope to achieve any long-term benefits if it cannot get to grips with the underlying political and social mechanism of this vast region.


2011 brought the Arab Spring and the end of Muammar Gadhafi, who had long been a stabilizing force in the Sahel, and both a promoter and a hinderer of Touareg nationalist ambitious. His weapons arsenals were opened up to armed groups of every stripe and in January 2012, the Touareg used this opportunity to reignite their rebellion in northern Mali. But it was al Qaeda in the Islamic Maghreb who eventually took control, either directly or through a network of alliances.


Now Mali's hopes lie with the French, who intervened on Friday January 11, after months of diplomatic wrangling at the U.N. and elsewhere.


France 'not a pacifist nation'


So the world has a new front on the global war on terror and France has a new battle to fight in Africa.


Within northern Mali itself, however, and throughout the Muslim world, this is not seen as a war on terror but as a cultural conflict, one that pits a group of people who feel that the future of their society will be best served by rejecting Western liberal values and returning to the core tenets of Islam against another group who believe in religious tolerance, secularism, democracy and music.


This conflict turns musicians, artists and writers into frontline soldiers.


Saudi Arabia destroyed its mausoleums and silenced its musicians decades, even centuries, ago. In the Algerian civil war of the 1990s, many musicians, writers and cultural figures were killed, prompting others to flee overseas.


In Mali they're still singing, still writing, still fighting, for the time being at least.


In this new battleground in the cultural wars of the Muslim world, a distant mirror of the religious wars that shook Europe in the 15th and 16th centuries, Malian musicians are taking a stand. That's why music matters. That's why Mali matters.


The opinions expressed in this commentary are solely those of Andy Morgan.






Read More..

Chuck Workman interviews directors David Lynch, Mike Leigh for “What is Cinema?”






NEW YORK (TheWrap.com) – Oscar winner Chuck Workman has begun work on a new documentary titled “What is Cinema?” for Cohen Media Group. Seeking to explore the art of filmmaking, Workman has interviewed directors David Lynch and Mike Leigh, and will interview several filmmakers at this year’s Sundance Film Festival, which began Thursday.


Workman, who won an Oscar for his 1986 short “Precious Images,” took the title for this new documentary from a seminal book by legendary French film theorist Andre Bazin.






Bazin co-founded French film magazine Cahiers du cinema and had a major influence on French New Wave filmmakers including Francois Truffaut and Jean-Luc Godard.


“Cinema is something we all grew up with and we think we know it. Or we don’t think about it much, just sit down and enjoy the film. But it changes daily, and this is an attempt to chronicle where it is today and where it will be, or should be, tomorrow,” Workman said in a statement.


Many may know Workman’s work without realizing it. He makes many of the montages seen during the Oscar telecasts, including the In Memoriam section. He has also made documentaries including “The Visionaries” and “Superstar: The Life and Times of Andy Warhol.”


Workman and Cohen may also collaborate on a pair of other documentaries about giants of American cinema. Both “What is Cinema?” and those prospective films fit right in at Cohen, which distributes independent and foreign films. Its upcoming releases include Rachid Bouchareb’s “Just Like a Woman” and Francois Ozon’s “In the House.”


Movies News Headlines – Yahoo! News




Read More..

American Airlines Repaints Its Planes, to Much Carping






The downside of creating a classic brand image is that you can never change it without killing a classic brand image. And thereby poking the Internet anger gods.


On Thursday morning, American Airlines (AAMRQ) did both when it unveiled a flashy new paint job for its fleet of aircraft. The brazenly patriotic, hot-rod look supplants the airline’s classic, mid-20th century design—one that once called to mind the golden era of flight but has more recently come to symbolize an industry struggling to adapt. Goodbye to The Aviator. Welcome to Team America: World Police.






Gone is the “Silver Bird” livery introduced in 1967 (below), with its red, white, and blue stripes, the one-word “AmericanAirlines” printed, in Helvetica type, across a polished aluminum fuselage, and the “AA” logo with a deco eagle conceived by the design team of Lella and Massimo Vignelli. The “New American” look will feature a one-word “American” in giant letters next to a new, offset logo, with an American-flag-draped tail.ccb44  0117 AAirlines Old Inline 4051 American Airlines Repaints Its Planes, to Much CarpingPhotograph by Andrew Harrer/Bloomberg


Responses have ranged from baffled to withering. Courtesy of Twitter:


“Pity – @AmericanAir trashes a classic modernist icon logo – and ‘fixes’ the only thing that wasn’t broken about that wretched airline” —Joel Spolsky, founder of Stack Overflow


“The new American Airlines logo will be hated by everybody for its sleekness, & new typography for its blandness.” —Rafat Ali, founder of Skift


“American, only US airline with a great logo, changes it to something hideous. Painting their planes cant be far behind.” —Will Doig, international editor of Next City


“Big lettering of new @AmericanAir logo ok, but the rest feels like it is trying too hard to be trendy, unlike the self-assured Vignelli logo.” —Paul Goldberger, architecture critic.


When the prior logo was conceived, it was supposed to convey a sense of professionalism and modernity. The new logo arrives amid turmoil. American went bankrupt in 2011 and is reportedly being courted by US Airways (LCC) for a merger. Virasb Vahidi, American’s chief commercial officer, explained the makeover in a statement: “Our new logo and livery are designed to reflect the passion for progress and the soaring spirit, which is uniquely American. … The new tail, with stripes flying proudly, is a bold reflection of American’s origin and name.”


The Vignellis haven’t responded to requests for comment, but we’d be curious to know their thoughts. “The life of a designer is a life of fight—fight against ugliness,” Massimo Vignelli said in the 2007 documentary Helvetica. It appears that this is one fight they may have lost.


Businessweek.com — Top News





Title Post: American Airlines Repaints Its Planes, to Much Carping
Url Post: http://www.news.fluser.com/american-airlines-repaints-its-planes-to-much-carping/
Link To Post : American Airlines Repaints Its Planes, to Much Carping
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




Read More..

Weidmann says ECB is not the only crisis manager: paper






(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




Read More..

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

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)



Read More..

Baseball reflects on HOF pair Weaver, Musial


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."


Read More..