Flu Season ‘Worse Than Average,’ Officials Say

This year’s flu season is shaping up to be “worse than average and particularly bad for the elderly,” Dr. Thomas R. Frieden, the nation’s top federal disease-control official, said Friday.

But the season appears to have peaked, added Dr. Frieden, the director of the Centers for Disease Control and Prevention, with new cases declining over most of the nation except for the far West.

Spot shortages of flu vaccine and flu-fighting medicine are occurring, but that reflects uneven distribution, not a supply crisis, federal officials said. They urged people seeking flu shots to consult flu.gov and doctors to check preventinfluenza.org for suppliers.

Vaccine-makers will ultimately be able to deliver 145 million doses, 10 million more than projected earlier, the officials said. The Food and Drug Administration has allowed the maker of Tamiflu to release 2 million doses it had in storage.

The older Tamiflu is perfectly good, said Dr. Margaret A. Hamburg, the commissioner of the F.D.A., who joined Dr. Frieden on a telephone news conference. “It’s not outdated, it just has older labeling,” she said. “Repackaging it would take weeks,” she added, so her agency told the company not to bother.

Weekly recorded deaths from flu and pneumonia are still rising, and are well above the “epidemic” curve for the first time. But how severe a season ultimately proves depends on how long high weekly death rates persists. Flu deaths often aren’t recorded until March or April, well after new infections taper off.

Dr. Frieden said the season appeared to resemble the “moderately severe” season of 2003-2004, which also had an early start and was dominated by an H3N2 strain. In such seasons, 90 percent of all deaths occur among those over 65. Flu hospitalization rates are “quite high” now, Dr. Frieden said, and most of those hospitalized are elderly.

Last year’s flu season was unusually mild. At the end of the season last year, 34 children had died.

So far this year, the C.D.C.'s count of pediatric flu deaths, which includes premature infants and teenagers up to age 17 — has risen to 29, although this is acknowledged to be an undercount as it is only of lab-confirmed influenza cases reported to the agency.

Henry L. Niman, a flu-watcher who follows state death registries and news reports, counts about 40 pediatric deaths so far and predicted that the total would ultimately be close to the 153 of the 2003-04 season, but much less than in the 2009-2010 “swine flu” pandemic, when 282 children died. That flu was a strain never seen before and many more children caught it. The elderly had surprising resistance to getting it, presumably because similar flus that circulated 40 or more years ago had given them some immunity. But among those elderly who did catch it, the death rates were high.

Dr. Frieden suggested that the elderly avoid contact with sick children. “Having a grandparent baby-sit a sick child may not be a good idea,” he said.

Read More..

Media Decoder Blog: John Geddes, Managing Editor, Is Leaving The New York Times

2:37 p.m. | Updated John M. Geddes, a managing editor for The New York Times for the last decade and one of the top three editors at the paper, has decided to leave the company. In a note sent to the newsroom staff on Friday afternoon, Mr. Geddes said he was accepting a buyout package and would depart in several months after helping with transition on the newspaper’s masthead.

In his note, Mr. Geddes reflected on the many things he would miss about The Times, where he has worked for nearly two decades.

“After serving four executive editors, it is time for new horizons,” said Mr. Geddes in his announcement. He said would “ache for the vibrations that the newsroom gives off when a crisis erupts and we scramble” and would miss “hearing about a great story (or new ways to tell one).”

Mr. Geddes joined The Times in 1994 as its business editor and worked his way up the company’s editorial ranks. Before joining The Times, he had spent 13 years at The Wall Street Journal working in both New York and in Europe. He currently serves as one of two managing editors for The Times, along with Dean Baquet.

His departure comes as the paper undertakes a broader restructuring in the newsroom. Like many newspapers facing a troubled advertising market, The Times is trying to cut expenses; in December the paper offered buyout packages to nonunion staff members. It sought 30 volunteers, and said it would resort to layoffs if not enough employees opted for the buyout.

In recent months, The Times has also announced the departures of executives on the business side, including Robert Christie, senior vice president of corporate communications, and Scott Heekin-Canedy, president and general manager of The New York Times. Both of their positions have been eliminated with their departures.

Jill Abramson, the executive editor, said in a statement: “John Geddes is the consummate newsman with superb instincts for stories and people. We’ve been partners in the newsroom for nearly a decade. He has given his all to the Times for far longer than that. Most of all, I’ll miss his company.”

Here is Mr. Geddes’s memo to the staff:

A man walks out of a bar . . .

I’m moving on. I’ve arrived at that magical spot where a buyout offer miraculously appears and presents me with new opportunities. Yes, yes, I know everyone says you have to do this carefully and be armed with a plan, but I don’t have one – not yet.

Frankly, I blame this lack of personal preparedness on this place. I’ve always believed The New York Times works because it is, at heart, a collective of unique individuals bound together in pursuit of great journalism. We’re about the common goal, not about jostling one another for a place in a transitory spotlight. The mission is about us, not about me or you.

We know that our vaunted pedestal is really the achievement of those who came before us, and our chief charge is to build on their legacy. While our readers and our colleagues — you —are the ultimate jury, I’ve tried over the last 15 years on the masthead to do my best to help figure out how we marshal the resources to cover the news, develop one another’s talents and secure as firm a hold as we can on our digital future.

I’ve tried to do it with both brains and heart. You’ve deserved no less, and I’m going to miss you. I’ll ache for the vibrations that the newsroom gives off when a crisis erupts and we scramble. I’ll miss helping shape new sections, launching new apps, hearing about a great story (or new ways to tell one) and seeing you in the elevators, across the floor and at the New Faces parties at my apartment.
I got into this profession partly because I wanted a job without repetition, a chance to deal with something new each day. Geez, Louise, I got what I asked for. I’ve had fun, and even on the bad days couldn’t imagine not coming into work.

But after serving four executive editors, it is time for new horizons. Jill has asked me to delay my departure for a few months to help with the masthead transition. I’m happy to do that because it will give me time to say thanks to so many of you individually.

. . . and on his arm is a wonderful woman he met inside.
Best, John

Read More..

Algeria Confirms Hostage Deaths in Rescue Raid

BAMAKO, Mali — Kidnappers and at least some of their hostages were killed on Thursday as Algerian forces assaulted a heavily armed group of Islamist extremists holding dozens of captives, including Americans and other foreigners, in a remote gas field facility in the Algerian desert, the Algerian government announced.

Kjetil Alsvik/Statoil, via Agence France-Presse — Getty Images

An undated photo of the In Amenas gas field in Algeria, where Islamist militants took dozens of foreign hostages on Wednesday.

In a statement on national radio, the communications minister, Mohand Saïd Oublaïd, said that many of the hostages had been freed, but he warned that the military assault was not yet complete and that some captives remained trapped inside the facility.

“The operation resulted in the neutralization of a large number of terrorists and the liberation of a considerable number of hostages,” Mr. Oublaïd said. “Unfortunately, we deplore also the death of some, as well as some who were wounded. We do not have final numbers.”

He also said “the operation is ongoing, given the complexity of the site, to liberate the rest of the hostages and those who are trapped inside.”

The announcement was the most detailed official information given by Algeria on the crisis. It began more than 24 hours earlier when Islamist militants seized the hostages at the internationally managed gas field in the Sahara near the Libyan border, in what they called retaliation for the French military intervention in neighboring Mali. The seizure of the gas field was one of the boldest abductions of foreign workers in recent years.

Unconfirmed news reports earlier on Thursday, quoting a statement reportedly from the hostage takers, said the Algerian military assault had left 35 hostages and 15 kidnappers dead. One Algerian government official called those numbers “exaggerated.”

The communications minister said the military assault force sent to end the gas-field siege had first sought a peaceful end.

“But confronted with the determination of the heavily armed terrorist group, our armed forces were forced to surround the site and fire warning shots,” he said. “In front of the stubborn refusal of these terrorists to heed these warnings and confronted with their evident desire to leave Algeria with the foreign hostages to then use them as a bargaining chip, an assault was launched this Thursday at the end of the morning.”

The minister’s announcement came as foreign governments, including the United States, were seeking clarity on the fate of their citizens trapped inside the gas-field facility. There was no sign that the Algerians had given prior notice to any of the countries whose citizens were among the hostages.

A senior American official said Pentagon aides traveling in London with Defense Secretary Leon E. Panetta were struggling to obtain basic information about the Algerian raid, and there were unconfirmed reports that an American Predator drone was monitoring the gas-field site.

The senior official said that perhaps seven to eight Americans were among the hostages — the first official confirmation of the number of Americans held captive — and that he did not know if any had been killed in the rescue operation.

David Cameron, the prime minister of Britain, said through a spokesman that his office had not been told ahead of time, an implicit criticism of the Algerian government. “The Algerians are aware that we would have preferred to have been consulted in advance,” the spokesman said.

Japan expressed even stronger concern, saying Algeria had not only failed to advise of the operation ahead of time, but that Japan had also asked Algeria to halt the operation because it was endangering the hostages.

“We asked Algeria to put human lives first and asked Algeria to strictly refrain,” the chief Cabinet secretary, Yoshihide Suga, quoted Prime Minister Shinzo Abe as telling his Algerian counterpart, Abdelmalek Sellal, by telephone late Thursday.

The situation is “very confused,” President François Hollande of France said at a news conference in Paris and was “evolving hour by hour.” Mr. Hollande confirmed for the first time officially that French citizens were among the captives.

The kidnapping in Algeria was a retaliation for the continuing French military assault on Islamist extremists in Mali that has escalated into a much broader conflict, now enmeshing the United States and other countries with citizens held hostage. Reuters said the survivors of the Algerian assault included hostages from the United States, Belgium, Japan and Britain. The full extent of the casualties was not immediately clear.

News agencies in Algeria and neighboring Mauritania said the helicopters may have attacked when the kidnappers sought to move their hostages from one part of the installation to another.

Adam Nossiter reported from Bamako, and Alan Cowell and Scott Sayare from Paris. Reporting was contributed by Clifford Krauss from Houston, Rick Gladstone from New York, Elisabeth Bumiller and John F. Burns from London, Steven Erlanger from Paris, Hiroko Tabuchi from Tokyo and Clifford Krauss from Houston.

Read More..

Amazon holiday results to show sales tax impact

SAN FRANCISCO (Reuters) – Acting as a tax collector may have hurt Amazon.com, Inc’s holiday sales analysts and industry executives said, but they expect to know more when the internet retailer reports its fourth-quarter results on January 29.

Best Buy Co., an archrival of Amazon in consumer electronics, saw holiday online sales increase in three states where Amazon started collecting sales tax ahead of the period.

“There was a little softness in states where Amazon is now collecting sales tax,” said R.J. Hottovy, an equity analyst at Morningstar. “That isn’t surprising to me. It levels the playing field for brick-and-mortar retailers.”

Critics of Amazon argued it had an unfair advantage because most retailers have had to collect state sales tax on online sales for years because they have stores and other physical operations in these locations.

But many states, hungry for extra tax revenue in the wake of the 2008 financial crisis, introduced new laws requiring that Internet-only retailers also collect sales tax. Brick-and-mortar retailers hope the requirement will reduce Amazon’s price advantage and help them recoup lost sales.

CHANNELADVISOR DATA

Amazon, the world’s biggest Internet retailer, began collecting sales tax of 7.25 percent to 9.75 percent in California on Sept 15, about two weeks before the start of the fourth-quarter. Third-party sellers on Amazon.com saw a drop in sales during the quarter, compared to other states, according to an analysis by e-commerce firm ChannelAdvisor.

It also started collecting sales tax in Pennsylvania in September and in Texas in July.

Amazon’s fourth-quarter results should provide clues on whether consumers changed their shopping habits when faced with higher taxes on their purchases from the company’s website.

ChannelAdvisor, which helps merchants sell more online, analyzed its clients’ sales on Amazon.com in California, and compared them to other states before and after the sales tax kicked in.

Before Amazon began collecting the tax in California, ChannelAdvisor client sales were 5 percent to 10 percent above other states. The week before the September 15 start of the tax, sales spiked as high as 70 percent compared to other states.

“The surge before the tax went into effect was much larger than I thought it would be,” said Scot Wingo, chief executive of ChannelAdvisor. “Californians definitely bought a lot in the three or four days before the tax went into effect.”

After Amazon began collecting tax, its California sales leveled with other states. Then, in early November, they slipped as much as 10 percent below other states, ChannelAdvisor data showed.

During one of the busiest holiday periods, in late November and early December, sales dipped further in California vs other states. Toward the end of the holiday period, client sales in California recovered, the data showed.

“There was a sales impact of about 10 percent at the worst point of the dip,” Wingo said. EBay, another Amazon rival, is an investor in ChannelAdvisor. Wingo also owned Amazon shares, but sold them in the fourth quarter for personal tax-related reasons.

Amazon’s tax collection in California had the most impact on fourth-quarter sales of more expensive items priced at $ 200 to $ 250, Wingo said.

PRICES, PROFIT

Amazon probably lowered prices by 8 percent to 9 percent on items most affected by this, although it is tricky to separate such reductions from the usual holiday season promotions that were also happening, Wingo said.

The extra price competition may dent Amazon’s profitability in the fourth quarter, Morningstar’s Hottovy said.

Amazon is expected to make 52 cents a share in the fourth quarter, on revenue of $ 22.3 billion, according to Thomson Reuters I/B/E/S. In late October, the company forecast operating results ranging from a profit of $ 310 million to a loss of $ 490 million.

Hottovy expects $ 22.4 billion in revenue and an operating loss of $ 210 million, or a $ 135 million loss after excluding stock-based compensation and other operating expenses.

BEST BUY

In California, Texas and Pennsylvania, Best Buy said it saw a 4 percent to 6 percent increase in online sales during the holiday versus the rest of its chain.

The retailer also saw an increase of 6 percent to 9 percent in online orders that are picked up in its stores in those three states compared with the rest of its chain.

Overall, Best Buy reported better-than-expected holiday sales last week, sending its shares up more than 10 percent.

“This makes Amazon equal to everyone else. They no longer have that sales tax advantage,” said Anne Zybowski, vice president of retail insights at Kantar Retail. “If this had happened to Amazon when they were just a bookseller years ago, they may not be as big as they are now.

Despite the tax changes, Amazon’s consumer electronics prices were still at least 5 percent below Best Buy’s during the holiday season, Zybowski said. But Best Buy may have benefited from even a small change in this area.

“Particularly in consumer electronics, any narrowing of Amazon’s price advantage at the margin is important because Best Buy brings service and other shopper benefits to the category,” she said.

Best Buy will take away people’s old TVs when they buy a new one and the company’s Geek Squad service will install devices in shoppers’ homes, services Amazon does not provide, she noted.

An Amazon spokesman declined to comment when asked if the company saw an impact on fourth-quarter sales from the collection of sales taxes in the three states.

In the past, Amazon executives have said there was little or no impact from such changes in other regions.

Several analysts have argued that shoppers use Amazon for its vast product selection and convenient, fast shipping and returns, and not just its low prices.

“While not great for Amazon, it’s just one of many consumer benefits its service offers,” said Ken Sena, an analyst at Evercore Partners. “And while there may be early effects from this change, I still see usage trends remaining in Amazon’s favor.”

(Editing by Leslie Gevirtz)

Tech News Headlines – Yahoo! News

Title Post: Amazon holiday results to show sales tax impact
Url Post: http://www.news.fluser.com/amazon-holiday-results-to-show-sales-tax-impact/
Link To Post : Amazon holiday results to show sales tax impact
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..

Brandt: Manti Te'o's draft stock could plummet

NFL draft consultant Gil Brandt believes the uncertainty surrounding Manti Te'o could affect when he is selected in April by a team.

Brandt called the story that Notre Dame's All-American linebacker was involved in a hoax "something I have never witnessed" in his half-century in pro football.

"I think some teams will say it isn't worth the problem" to draft Te'o, said Brandt, who has the linebacker rated 19th overall in the first round.

The former Dallas Cowboys general manager added Thursday that Te'o's stock had plummeted after a poor performance in the BCS championship game. Now, Te'o could fall further.

"I don't think anybody considered him to be a top-five pick before all this happened," Brandt said. "In that game against Alabama, this was like a guy who was the best shooter in the world in basketball and here comes a game and he can't even hit the backboard. His play in that game was absolutely horrible. He missed on run blitzes; guys ran over him ..."

David Schwab, a senior executive at sports management firm Octagon, considered Te'o perhaps the most marketable player coming into this year's draft. As the face of a Notre Dame team that returned to national relevance, the Heisman Trophy runner-up had the name recognition of few college stars.

"Compassionate" and "heartwarming" were some of the adjectives Schwab would have used to describe his image.

Now, that persona will depend on the details that emerge about the story of a girlfriend who didn't exist.

"If he truly had nothing to do with it, I think the long-term damage is zero," said Schwab, who specializes in matching companies to celebrities.

In the short term, it's unlikely to see Te'o promoting any products, because a public appearance would turn into an impromptu news conference about the hoax. If uncertainty lingers about exactly what happened, Schwab said, many companies may hesitate to sign him.

But even if Te'o is implicated in the hoax, he could still eventually turn into a sponsor's dream if he blossoms as an NFL star.

"If you perform on the field, you quickly become marketable," Schwab said.

Look no further than Ray Lewis, the Baltimore Ravens linebacker who was charged with murder in 2000. The charges were dropped after Lewis agreed to testify against two other men and he subsequently pleaded guilty to a misdemeanor charge of obstruction of justice. This week he's a beloved figure heading into the AFC championship with retirement looming.

Te'o would hardly be the first player to see his draft stock sink because of off-field issues. Last year, North Alabama cornerback Janoris Jenkins fell to the second round after multiple run-ins with the law related to marijuana got him dismissed from Florida.

Warren Sapp in 1995 and Randy Moss in 1998 slid because of character concerns; both are now considered potential Hall of Famers.

Teams may be less likely to take a risk on Te'o in the draft if they don't believe he can become a dominant player.

Brandt noted how the inside linebacker position doesn't carry as much importance in the NFL as it once did. In the last 10 years, only four inside linebackers were taken in the first round, although one of them was perennial All-Pro Patrick Willis of San Francisco.

"I think it would be different if it was a quarterback who would change the game," he said. "But linebackers are a piece to the puzzle; they don't solve the puzzle. Other than Ray Lewis, I don't know of any linebacker you say, 'We've got to have this guy.'

"(Inside) linebackers are not as important as they used to be. We're down to one or two first-round linebackers now."

Brandt wondered how Te'o could be so effective during the season, including seven interceptions — "unheard of, like hitting .450 in baseball" — and then so unproductive in the championship game.

"Between now and 97 days from now when the draft comes, there'll be a lot of people investigating just what took place," he said.

___

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

Read More..

Well: Life, Interrupted: Brotherly Love

Life, Interrupted

Suleika Jaouad writes about her experiences as a young adult with cancer.

There are a lot of things about having cancer in your 20s that feel absurd. One of those instances was when I found myself calling my brother Adam on Skype while he was studying abroad in Argentina to tell him that I had just been diagnosed with leukemia and that — no pressure — he was my only hope for a cure.

Today, my brother and I share almost identical DNA, the result of a successful bone marrow transplant I had last April using his healthy stem cells. But Adam and I couldn’t be more different. Like a lot of siblings, we got along swimmingly at one moment and were in each other’s hair the next. My younger brother by two years, he said I was a bossy older sister. I, of course, thought I knew best for my little brother and wanted him to see the world how I did. My brother is quieter, more reflective. I’m a chronic social butterfly who is probably a bit too impulsive and self-serious. I dreamed of dancing in the New York City Ballet, and he imagined himself playing in the N.B.A. While the sounds of the rapper Mos Def blared from Adam’s room growing up, I practiced for concerto competitions. Friends joked that one of us had to be adopted. We even look different, some people say. But really, we’re just siblings like any other.

When I was diagnosed with cancer at age 22, I learned just how much cancer affects families when it affects individuals. My doctors informed me that I had a high-risk form of leukemia and that a bone marrow transplant was my only shot at a cure. ‘Did I have any siblings?’ the doctors asked immediately. That would be my best chance to find a bone marrow match. Suddenly, everyone in our family was leaning on the little brother. He was in his last semester of college, and while his friends were applying to jobs and partying the final weeks of the school year away, he was soon shuttling from upstate New York to New York City for appointments with the transplant doctors.

I’d heard of organ transplants before, but what was a bone marrow transplant? The extent of my knowledge about bone marrow came from French cuisine: the fancy dish occasionally served with a side of toasted baguette.

Jokes aside, I learned that cancer patients become quick studies in the human body and how cancer treatment works. The thought of going through a bone marrow transplant, which in my case called for a life-threatening dose of chemotherapy followed by a total replacement of my body’s bone marrow, was scary enough. But then I learned that finding a donor can be the scariest part of all.

It turns out that not all transplants are created equal. Without a match, the path to a cure becomes much less certain, in many cases even impossible. This is particularly true for minorities and people from mixed ethnic backgrounds, groups that are severely underrepresented in bone marrow registries. As a first generation American, the child of a Swiss mother and Tunisian father, I suddenly found myself in a scary place. My doctors worried that a global, harried search for a bone marrow match would delay critical treatment for my fast-moving leukemia.

That meant that my younger brother was my best hope — but my doctors were careful to measure hope with reality. Siblings are the best chance for a match, but a match only happens about 25 percent of the time.

To our relief, results showed that my brother was a perfect match: a 10-out-of-10 on the donor scale. It was only then that it struck me how lucky I had been. Doctors never said it this way, but without a match, my chances of living through the next year were low. I have met many people since who, after dozens of efforts to encourage potential bone marrow donors to sign up, still have not found a match. Adding your name to the bone marrow registry is quick, easy and painless — you can sign up at marrow.org — and it just takes a swab of a Q-tip to get your DNA. For cancer patients around the world, it could mean a cure.

The bone marrow transplant procedure itself can be dangerous, but it is swift, which makes it feel strangely anti-climactic. On “Day Zero,” my brother’s stem cells dripped into my veins from a hanging I.V. bag, and it was all over in minutes. Doctors tell me that the hardest part of the transplant is recovering from it. I’ve found that to be true, and I’ve also recognized that the same is true for Adam. As I slowly grow stronger, my little brother has assumed a caretaker role in my life. I carry his blood cells — the ones keeping me alive — and he is carrying the responsibility, and often fear and anxiety, of the loving onlooker. He tells me I’m still a bossy older sister. But our relationship is now changed forever. I have to look to him for support and guidance more than I ever have. He’ll always be my little brother, but he’s growing up fast.

---

Suleika Jaouad (pronounced su-LAKE-uh ja-WAD) is a 24-year-old writer who lives in New York City. Her column, “Life, Interrupted,” chronicling her experiences as a young adult with cancer, appears regularly on Well. Follow @suleikajaouad on Twitter.

Read More..

With Debt to Sell, Troubled Euro Nations Find Willing Buyers

MADRID — January is turning out to be a bumper month for Spain and some of the euro zone economies most in need of debt financing, with governments and companies flooding the market with bonds that have sold at significantly lower interest rates than just a few months ago.

On Thursday, the Spanish Treasury sold €4.5 billion, or $5.9 billion, of debt, including bonds with a maturity of as much as 28 years. The average interest rate paid by Madrid on two-year bonds was 2.71 percent, down from 3.36 percent in December — a level not reached since March of last year.

The interest rate on the benchmark 10-year Spanish bond stood at 5.03 percent Thursday. Last year that rate spiked above 7 percent — a level that many economists believe places an unsustainable burden on governments.

Higher interest rates make it not only more expensive but also more difficult for governments to borrow the money they need. Consistently high borrowing costs helped force Greece, Ireland and Portugal to seek international bailouts.

But the renewed sense of optimism in Spain this week led the government to suggest that the country’s economic recession would not be as deep and prolonged as had been feared. When drafting its 2012 budget, the government had expected the economy to contract 1.5 percent, but officials now expect the final figure for last year to be lower.

“The government is adopting the right measures to overcome the crisis, and these efforts are about to bear fruit,” Foreign Minister José Manuel García-Margallo said at an investment conference here Wednesday. “Foreign investors are coming back.”

But some foreign investors in Mr. García-Margallo’s audience gave a much more cautious reading on the recent market rally, as well as warning that it was too early for talk about an economic turnaround.

“Optimism is the flavor of the day, but perhaps people are overoptimistic,” said Birgitte Olsen, fund manager at Bellevue Asset Management in Zurich. “We’ve now seen some car companies shift their production lines to Spain, but a lot more reforms and work need to be done to return to growth and job creation.”

Still, Ms. Olsen said, “it makes sense for any company that has the opportunity to sell bonds to do it right now.”

Indeed, last year’s trickle of Spanish corporate debt issuance has turned this month into a flow. On Wednesday, Banco Santander sold €1 billion of seven-year bonds at an interest rate of 4 percent. In the first two weeks of January, a handful of other Spanish banks, as well as Telefónica and energy companies including Gas Natural and Red Eléctrica, sold bonds totaling over €7 billion, with most sales heavily oversubscribed.

“The results of some of these Spanish bond issues would have been impossible just three months ago, but it’s unclear to me whether what has now opened is really a long-term window,” said Michael Gierse, a fund manager at Union Investment in Frankfurt, which has €180 billion in assets under management.

The next litmus test for investors, Mr. Gierse said, would come at the end of the month, when the Spanish authorities are expected to lift a ban on the short-selling of all stocks trading on the country’s exchanges. The ban, intended to reduce market volatility, was to be lifted at the end of last October but was then extended by three months to help ailing companies like Banco Popular issue debt. Short-selling lets investors sell borrowed shares in the hope that their price will fall and that they could then be repurchased more cheaply, allowing the investors to pocket the difference.

“Once the short-selling ban gets lifted, we will have a much clearer idea of whether this market rally is for real,” Mr. Gierse said. For now, he added, “I don’t think that investors from outside the euro zone are already back in Spain.”

One reason for such wariness is that investors endured a roller-coaster ride last year.

Read More..

Deepening Crisis for the Dreamliner

Noboru Tomura/Asahi Shimbun, via Associated Press

An All Nippon Airways flight in Takamatsu, Japan, after an emergency landing on Wednesday.

TOKYO — The two largest Japanese airlines said Wednesday that they would ground their fleets of Boeing 787 aircraft after one operated by All Nippon Airways made an emergency landing in western Japan.

The latest episode elevates the safety concerns about Boeing’s new flagship airliner.

The emergency landing followed a string of problems in the past month with the Boeing 787, known as the Dreamliner, including a battery fire, fuel leaks and a cracked cockpit window. All Nippon said the problems Wednesday involved the same lithium-ion batteries that caught fire last week in Boston on a Dreamliner operated by Japan Airlines.

Last week, the U.S. Federal Aviation Administration ordered a comprehensive review of the Dreamliner’s manufacturing and design, with a focus on the plane’s electrical systems. During a news conference last Thursday, the U.S. transportation secretary, Ray LaHood, made no mention of grounding Dreamliners. But if the problems continue, tougher measures could presumably be taken.

Boeing executives declined to comment Wednesday on the Japanese groundings. The company’s shares were down 3.7 percent in afternoon trading Wednesday in New York.

Eight airlines now fly the Dreamliner. All Nippon Airways and Japan Airlines in Japan own 24 of the 50 delivered by Boeing since November 2011. The other operators are Air India, Ethiopian Airlines, LAN Airlines of Chile, LOT of Poland, Qatar Airways and United Airlines of the United States. Orders for about 800 additional 787s are in the pipeline.

In the episode in Japan early Wednesday, the 137 passengers and crew members aboard Flight NH692 from Yamaguchi Ube Airport, in western Japan, to Tokyo used emergency slides to leave the aircraft early after battery trouble and an “unusual smell” in the cockpit prompted its pilots to land instead at Takamatsu airport, according to All Nippon. The jet’s main battery in the front of the plane was later found to have become discolored and to be seeping electrolyte fluid, All Nippon said.

Ryosei Nomura, a spokesman for All Nippon, said Wednesday that the airline was temporarily grounding all 17 of its Dreamliners for inspections, leading to the cancellation of 38 domestic and international flights. Japan Airlines also said it would ground the five Dreamliners it was operating; two other aircraft were already undergoing safety checks.

Akihiro Ota, the Japanese transportation minister, said that the emergency landing had raised concerns about the Dreamliner’s safety and that he would dispatch officials to investigate. “I see this as a serious incident which could have led to a serious accident,” Mr. Ota said in Tokyo.

All Nippon and Japan Airlines said the planes would return to the air after safety checks, although it was unclear how soon that might be. All Nippon said it would keep its Dreamliner fleet grounded Thursday, canceling 35 domestic flights and using other types of aircraft for its international routes.

The review by the U.S. aviation administration is unusual, just 15 months after the plane entered service following a lengthy certification process by the agency. That review is in addition to a formal investigation by the U.S. National Transportation Safety Board of what caused a battery fire on a Japan Airlines plane that flew to Boston from Tokyo last week.

The safety board said Wednesday it was “currently in the process of gathering information about the B-787 emergency landing in Japan earlier today.”

Boeing has sought to ease concerns about the plane’s design and reliability, and has said it is no more trouble-prone than other new commercial airplane programs.

Updesh Kapur, a spokesman for Qatar Airways, affirmed on Wednesday the airline’s view that the Dreamliner was safe but declined to comment on the decisions by the Japanese carriers. Qatar Airways operates three Dreamliners and has orders and purchase options for 57 more.

Last week, Akbar Al Baker, the Qatar Airways chief executive, played down the recent string of Dreamliner incidents as “teething issues with various components” and expressed confidence that Boeing would resolve any problems. He added that his airline was taking “every precaution” to ensure its fleet was safe to fly.

Read More..

Facebook search to generate revenue, no rival to Google: analysts

(Reuters) – Facebook Inc’s new search tool has strong potential to generate revenue for the social networking company, though it is unlikely to challenge Google Inc as the world’s dominant search engine, Wall Street analysts said on Wednesday.

Facebook’s “graph search” tool, rolled out on Tuesday, lets its more than 1 billion users trawl their network of friends to find everything from restaurants to movie recommendations and is the company’s biggest foray into online search.

Graph search contains some category suggestions that can be easily monetized, BofA Merrill Lynch analysts said in a note.

“It should be easy to incorporate commercial search results via Facebook’s partnership with Bing,” they added.

Facebook currently has a partnership with Microsoft Corp, whose Bing search engine provides search results for external websites. Microsoft also integrates certain Facebook results into its Bing search results.

BofA Merrill Lynch analysts estimated Facebook could add $ 500 million in annual revenue if it can generate just one paid click per user per year, and raised its price target on the stock by $ 4 to $ 35.

Facebook’s shares were flat at $ 30.10 in early trading on Wednesday. They have jumped about 50 percent since November to Tuesday’s close after months of weakness following its bungled Nasdaq listing in May.

However, analysts at J.P. Morgan Securities said the lack of a timeline for the possible launch of graph search on mobile devices may weigh on the tool’s prospects.

The success of the graph search, which will rely heavily on local information, depends on Facebook launching a mobile product, the analysts said. Half of all searches on mobile devices seek local information, according to Google.

Graph search also lacks the depth of review content of Yelp Inc, the analysts added.

Pivotal Research Group analyst Brian Wieser said monetization potential would be largely determined by Facebook’s ability to generate a significant portion of search query share volumes and he expects that quantity to be relatively low.

“Consumers are likely to continue prioritizing other sources, i.e. Google. Advertisers would consequently only use search if they can, or are perceived to, satisfy their goals efficiently with Facebook,” Wieser said.

NO GOOGLE KILLER

Analysts mostly agreed that Facebook’s search tool was unlikely to challenge Google’s dominance in web search at least in the near term.

“As of now, we do not see Graph Search as a threat to Google Web search. Looking forward, Facebook Graph searches could be competitive with certain categories of Google searches, such as Places and Maps,” BofA Merrill said.

Internet search, social networking tools and e-commerce are among the biggest weapons that companies such as Facebook, Google and Amazon.com Inc have in their battle for supremacy. A successful combination of the three could win the day for them.

Google has been trying to combine social networking and search for more than a year by integrating Google+ into its search engine.

“Overall, Graph Search offers users a unique view to information not available on Google, but does not replace Google. We view the relationship between Facebook Graph Search and Google as both competitive and complementary,” Piper Jaffray & Co analysts said.

The brokerage said users looking to buy a cellphone, for example, could search for friends’ reviews on Facebook and expert reviews on Google.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila)

Social Media News Headlines – Yahoo! News

Title Post: Facebook search to generate revenue, no rival to Google: analysts
Url Post: http://www.news.fluser.com/facebook-search-to-generate-revenue-no-rival-to-google-analysts/
Link To Post : Facebook search to generate revenue, no rival to Google: analysts
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..

Eagles get their man, hire Oregon's Chip Kelly

PHILADELPHIA (AP) — In the end, Chip Kelly chose the NFL, giving the Eagles their guy.

Philadelphia hired Kelly on Wednesday, just 10 days after he decided to stay at Oregon. The 49-year-old Kelly, known as an offensive innovator, becomes the 21st coach in team history and replaces Andy Reid, who was fired on Dec. 31 after a 4-12 season.

He'll be introduced at a news conference Thursday at 1:30 p.m. at the Eagles' practice facility.

Kelly, who was 46-7 in four years at Oregon, interviewed with the Eagles, Cleveland Browns and Buffalo Bills in a two-day span after leading the fast-flying No. 2 Ducks to a victory over Kansas State in the Fiesta Bowl on Jan. 3.

The Eagles are known to have interviewed 11 candidates, including two meetings with Seahawks defensive coordinator Gus Bradley. All along, Kelly was thought to be Philadelphia's first choice in a long, exhaustive process that took many twists.

"Chip Kelly will be an outstanding head coach for the Eagles," owner Jeffrey Lurie said in a statement. "He has a brilliant football mind. He motivates his team with his actions as well as his words. He will be a great leader for us and will bring a fresh energetic approach to our team."

On the day he fired Reid, Lurie appeared to be describing Kelly when he said he wanted to find a "real smart, forward-thinking coach" who is "strategic, a strong leader, very comfortable in his own skin."

The enigmatic Kelly reportedly was close to signing with the Browns after a long interview on Jan. 4. He met with the Eagles for nine hours the next day, setting up a soap-opera scenario in which the Eagles were competing with Browns CEO Joe Banner, their former president and longtime friend of Lurie who left the organization after a falling out.

But that roller coaster ended when Kelly opted to remain — temporarily — in Eugene, Ore. At the time, it was the second straight year Kelly had entertained overtures from NFL teams only to reject them. He turned down Tampa Bay's job deep into negotiations last season.

The Eagles interviewed two other high-profile college coaches — Penn State's Bill O'Brien and Notre Dame's Brian Kelly. Both of them elected to stay with their schools and Philadelphia issued a statement saying it would continue its search as planned.

"There is no question we spent a considerable amount of time and effort looking at who we thought were the best collegiate candidates. We did so knowing that there was a remote chance that these coaches would leave their current posts," the team stated on Saturday. "We understood that going into the process, but we wanted to leave no stone unturned while trying to find the best coach. We have no regrets about the effort we made in that direction."

Bradley was considered by many to be the leading contender, though former Cardinals coach Ken Whisenhunt and former Ravens coach Brian Billick were in the mix.

That all changed when Kelly had a change of heart.

The visor-wearing Kelly built Oregon into a national powerhouse. The Ducks went to four straight BCS bowl games — including a bid for the national championship against Auburn two seasons ago — and have won three Pac-12 championships.

Kelly originally went to Oregon in 2007 as offensive coordinator under Mike Bellotti. Before that, he was offensive coordinator at New Hampshire, where he started devising the innovative hurry-up offense the Ducks are known for now.

Oregon finished last season 12-1. The team was ranked No. 1 and appeared headed for another shot at the national championship until a 17-14 overtime loss to Stanford on Nov. 17.

It's unknown whether the possibility of NCAA sanctions based on Oregon's use of recruiting services factored into Kelly's reversal. Kelly indicated in Arizona that he isn't running from anything.

"We've cooperated fully with them," he said. "If they want to talk to us again, we'll continue to cooperate fully. I feel confident in the situation."

Following the bowl, Kelly said he wanted to get the interview process over "quickly." Turns out, it was anything but.

"It's more a fact-finding mission, finding out if it fits or doesn't fit," Kelly said after the Ducks defeated the Wildcats, 35-17. "I've been in one interview in my life for the National Football League, and that was a year ago. I don't really have any preconceived notions about it. I think that's what this deal is all about for me. It's not going to affect us in terms of we're not on the road (recruiting). I'll get an opportunity if people do call, see where they are.

"I want to get it wrapped up quickly and figure out where I'm going to be."

Kelly, who never said if he was leaning one way or another following the bowl, doesn't have any pro coaching experience, but aspects of his up-tempo offense are already being used by some NFL teams, including New England and Washington.

"I said I'll always listen, and that's what I'll do," he said at the time. "I know that people want to talk to me because of our players. The success of our football program has always been about our guys. It's an honor for someone to say they'd want to talk to me about maybe moving on to go coach in the National Football League. But it's because of what those guys do. I'll listen, and we'll see."

The Eagles fired Reid after two forgettable years. A late flurry brought the team to an 8-8 finish last season, but this season, Philadelphia endured an eight-game losing streak, and dropped 11 of its final 12 games. A 3-1 start soon washed away, and Reid's 14-year tenure ended not long after. Within a week, Reid was Kansas City's new coach.

Still, Kelly has tough shoes to fill. Reid won more game than any coach in franchise history and led the Eagles to nine playoff appearances, six division titles, five conference championship games and a loss to New England in the Super Bowl following the 2004 season.

Kelly and the Eagles, who have won just 12 games the last two seasons, after winning the NFC East in 2010, have the No. 4 overall pick in the draft as well as some talented players on offense who could fit his up-tempo scheme. Running back LeSean McCoy and wide receivers DeSean Jackson and Jeremy Maclin seem like an ideal match. Quarterback Nick Foles, however, isn't.

"I've never run the zone read," Foles said after the season. "I'm more of a dropback guy. I've been under center. I've been in the gun. If I can adapt, I want to. But I'm not a zone-read quarterback. Some people are gifted with different things. That's just not one of my skill sets. I can work on the speed in the offseason and get better with that. But I've always been a dropback guy in the pocket. I've been able to make plays on my feet throwing the ball or running for a first down."

On the other hand, Michael Vick could be perfect. But it's unlikely the Eagles would want to pay the $16 million they'd have to shell out for an injury-prone quarterback, who will be 33 next season.

Kelly had high praise for Foles after Oregon beat Arizona 56-31 in September 2011.

"I'll tell you what; I'm glad Nick Foles is graduating," Kelly said at that time. "I catch myself watching him in awe sometimes. Nick is a hell of a football player. That kid's a warrior. He's as good as anyone in the country."

Others interviewed by Lurie, general Howie Roseman and president Don Smolenski were former Bears coach Lovie Smith, Atlanta assistants Mike Nolan and Keith Armstrong, former Broncos offensive coordinator Mike McCoy and Bengals offensive coordinator Jay Gruden.

The first Eagles to react to Kelly's hiring on Twitter were defensive players.

Defensive end Brandon Graham wrote: "Happy to have Chip Kelly!! Now it's time to get to work!"

Safety Kurt Coleman wrote: "Welcome Chip Kelly to the Eagles family. Can't wait to see what he brings to the team in 2013!"

Oregon's players gave Kelly a Gatorade bath at the end of his last game, and some seemed resigned to their coach moving on.

"We're all behind him. He's an unbelievable coach," quarterback Marcus Mariota said. "He's not only a coach, but he's someone that you can look to and learn a lot of life lessons from. Whatever happens, happens.

"We'll see where it takes us."

Kelly took the road to Philadelphia and the NFL.

___

Follow Rob Maaddi on Twitter: https://twitter.com/RobMaaddi

___

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

Read More..