Iran's Ahmadinejad kissed and scolded in Egypt


CAIRO (Reuters) - Mahmoud Ahmadinejad was both kissed and scolded on Tuesday when he began the first visit to Egypt by an Iranian president since Tehran's 1979 Islamic revolution.


The trip was meant to underline a thaw in relations since Egyptians elected an Islamist head of state, President Mohamed Mursi, last June. But it also highlighted deep theological and geopolitical differences.


Mursi, a member of the Sunni Muslim Brotherhood, kissed Ahmadinejad after he landed at Cairo airport and gave him a red carpet reception with military honors. Ahmadinejad beamed as he shook hands with waiting dignitaries.


But the Shi'ite Iranian leader received a stiff rebuke when he met Egypt's leading Sunni Muslim scholar later at Cairo's historic al-Azhar mosque and university.


Sheikh Ahmed al-Tayeb, head of the 1,000-year-old seat of religious learning, urged Iran to refrain from interfering in Gulf Arab states, to recognize Bahrain as a "sisterly Arab nation" and rejected the extension of Shi'ite Muslim influence in Sunni countries, a statement from al-Azhar said.


Visiting Cairo to attend an Islamic summit that begins on Wednesday, Ahmadinejad told a news conference he hoped his trip would be "a new starting point in relations between us".


However, a senior cleric from the Egyptian seminary, Hassan al-Shafai, who appeared alongside him, said the meeting had degenerated into an exchange of theological differences.


"There ensued some misunderstandings on certain issues that could have an effect on the cultural, political and social climate of both countries," Shafai said.


"The issues were such that the grand sheikh saw that the meeting ... did not serve the desired purpose."


The visit would have been unthinkable during the rule of Hosni Mubarak, the military-backed autocrat who preserved Egypt's peace treaty with Israel during his 30 years in power and deepened ties between Cairo and the West.


"The political geography of the region will change if Iran and Egypt take a unified position on the Palestinian question," Ahmadinejad said in an interview with Al Mayadeen, a Beirut-based TV station, on the eve of his trip.


He said he wanted to visit the Gaza Strip, the Palestinian territory which neighbors Egypt to the east and is run by the Islamist movement Hamas. "If they allow it, I would go to Gaza to visit the people," Ahmadinejad said.


Analysts doubt that the historic changes that brought Mursi to power will result in a full restoration of diplomatic ties between states whose relations were broken off after the conclusion of Egypt's peace treaty with Israel in 1979.


OBSTACLES TO FULL TIES


At the airport the two leaders discussed ways of improving relations and resolving the Syrian crisis "without resorting to military intervention", Egyptian state media reported.


Egypt is concerned by Iran's support for Syrian President Bashar al-Assad, who is trying to crush an uprising inspired by the revolt that swept Mubarak from power two years ago. Egypt's overwhelmingly Sunni Muslim population is broadly supportive of the uprising against Assad's Alawite-led administration.


Egyptian Foreign Minister Mohamed Kamel Amr sought to reassure Gulf Arab allies - that are supporting Cairo's battered state finances and are deeply suspicious of Iran - that Egypt would not jeopardize their security.


"The security of the Gulf states is the security of Egypt," he said in remarks reported by the official MENA news agency.


Mursi wants to preserve ties with the United States, the source of $1.3 billion in aid each year to the influential Egyptian military.


"The restoration of full relations with Iran in this period is difficult, despite the warmth in ties ... because of many problems including the Syrian crisis and Cairo's links with the Gulf states, Israel and the United States," said one former Egyptian diplomat.


Iranian Foreign Minister Ali Akbar Salehi said he was optimistic that ties could grow closer.


"We are gradually improving. We have to be a little bit patient. I'm very hopeful about the expansion of the bilateral relationship," he told Reuters. Asked where he saw room for closer ties, he said: "Trade and economics."


Egypt and Iran have taken opposite courses since the late 1970s. Egypt, under Mubarak's predecessor Anwar Sadat, concluded a peace treaty with Israel in 1979 and became a close ally of the United States and Europe. Iran from 1979 turned into a center of opposition to Western influence in the Middle East.


Symbolically, Iran named a street in Tehran after the Islamist who led the 1981 assassination of Sadat.


Egypt gave asylum and a state funeral to Iran's exiled Shah Reza Pahlavi, who was overthrown in the 1979 Iranian revolution. He is buried in a mosque beside Cairo's mediaeval Citadel alongside his ex-brother-in-law, Egypt's last king, Farouk.


(Additional reporting by Ayman Samir, Marwa Awad and Alexander Diadosz; Writing by Paul Taylor and Tom Perry; Editing by Andrew Roche and Robin Pomeroy)



Read More..

S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.


Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.


Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.


"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.


Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.


The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.


With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.


The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.


The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.


The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.


Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.


Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.


According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.


In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.


Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.


Volume was roughly 6.3 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.


(Editing by Kenneth Barry and Nick Zieminski)



Read More..

NASA’s Curiosity Rover Hammers Into 1st Mars Rock






NASA’s Mars rover Curiosity has pounded into a Red Planet rock with its drill for the first time, bringing the 1-ton robot a big step closer to initiating its first full-bore drilling operations.


The Curiosity rover hammered the rock using the arm-mounted drill’s percussive action over the weekend, completing another test along the path toward spinning the bit and biting into rock for the first time.






“We tapped this rock on Mars with our drill. Keep it classy everyone,” Curiosity flight director Bobak Ferdowsi — who gained fame as “Mohawk Guy” during the rover’s nail-biting landing on the night of Aug. 5, 2012 — wrote in a Twitter post Sunday (Feb. 3), sharing a photo of the pounded rock.


Curiosity’s drill can bore 1 inch (2.5 centimeters) into Martian rock, deeper than any rover has been able to go before. Using the drill and its associated systems is a complex operation, so the mission team has been building up slowly to the first drilling activity on the Red Planet.


Last week, Curiosity performed some “pre-load” tests, pressing down on a rock with its drill in several different places to see if the amount of force applied matches predictions.


The six-wheeled robot has also been carefully evaluating its target rock, which is part of an outcrop the mission team has named “John Klein,” after a former Curiosity deputy project manager who died in 2011.


Curiosity’s main goal is to determine if its Gale Crater landing site could ever have supported microbial life. Along with the rover’s 10 science instruments and 17 cameras, the drill is viewed as key in this quest, as it allows Curiosity to dig deep into Martian rocks for potential signs of past habitability. 


The mission team wants to test the drill out on a target with scientific value, and John Klein seems to qualify. The outcrop shows many signs of past exposure to liquid water, including light-colored mineral veins that were apparently deposited by flowing water long ago.


Follow SPACE.com senior writer Mike Wall on Twitter @michaeldwall or SPACE.com @Spacedotcom. We’re also on Facebook and Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Space and Astronomy News Headlines – Yahoo! News





Title Post: NASA’s Curiosity Rover Hammers Into 1st Mars Rock
Url Post: http://www.news.fluser.com/nasas-curiosity-rover-hammers-into-1st-mars-rock/
Link To Post : NASA’s Curiosity Rover Hammers Into 1st Mars Rock
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..

Cause of Super Bowl power outage remains unclear


NEW ORLEANS (AP) — As the Superdome's energy provider and stadium management try to determine what caused a 34-minute power outage at Sunday's Super Bowl, local officials are hoping the incident won't leave a black eye on the city or prevent the league's big game from coming back to town.


Larry Roedel, a lawyer for the state board that oversees the Superdome, said Monday that the outage did not appear to be related to work done on the stadium's electrical system in December. The work, approved by the Louisiana Stadium and Exposition District last fall, replaced feeder equipment connecting the stadium to power provider Entergy New Orleans.


Entergy and the company that manages the Superdome, SMG, said Sunday that an "abnormality" occurred where stadium equipment intersects with an Entergy electric feed, causing a breaker to create the outage. It remained unclear Monday exactly what the abnormality was or why it occurred.


But Doug Thornton, manager of the Superdome, said called the outage an equipment error, not a human one. He said that when the power outage hit, meters indicated the stadium was drawing less power than it does during a typical New Orleans Saints game. The air conditioning system was running, he said, but on less power than it does in September.


Thornton said millions of dollars have been spent upgrading electrical equipment in the building since Hurricane Katrina hit in 2005, and none of it failed. He said it was working properly when power was restored.


He also said there is no evidence that the halftime show had anything to do with the outage, which struck early in the third quarter. He said the show used its own dedicated generator and wasn't using the Superdome's power supply.


Mayor Mitch Landrieu told WWL-AM (www.wwl.com) on Monday that the city still wants to make a bid to host the NFL's championship game again in 2018 and that the outage won't hurt its chances.


Landrieu said league owners were impressed with the city's performance as host and even joked that the game got better after the blackout. ""People were leaving and the game was getting boring, so we had to do a little something to spice it up," he said.


NFL Commissioner Roger Goodell said New Orleans was a terrific Super Bowl host and that the outage won't affect future bids.


"I fully expect that we will be back here for Super Bowls," NFL Commissioner Roger Goodell said. "And I hope we will be back. We want to be back."


Goodell also said the Superdome had a backup power system ready to go, and it was about to be used when the power started coming back on.


The Superdome sits on a 52-acre former railroad yard in the business district. Though only a block from City Hall, the 76,000-seat stadium and the adjacent New Orleans Arena are owned by the state, and the seven-member commission that oversees them is appointed by Gov. Bobby Jindal.


The Superdome was built at a cost of $134 million and opened in 1975. It has been the home to the NFL's New Orleans Saints since then. The first Super Bowl was played there in 1978.


Sunday's game was the seventh Super Bowl at the stadium, and the 10th overall for New Orleans.


In 2005, Hurricane Katrina ripped off the Superdome roof as an estimated 30,000 people huddled inside. They waited, rain-drenched, for days in the severe heat that followed the storm.


On Sunday, officials were eager to show off how the city had been rebuilt since Katrina, and the week of activities leading up to the game was nearly perfect.


New Orleans also is home to one of the largest convention centers in the country. Dr. Bjorn Hanson, dean of New York University's Center for Hospitality and Sports Management, said Monday that the power outage shouldn't hurt the city's reputation as a convention destination.


"I think people view it for what it was: An unusual event with a near-record power draw," he said. "It was the equivalent of a circuit breaker flipping."


The American Association of Neurological Surgeons will hold meetings in New Orleans from April 27 to May 1. Patty Anderson, director of meetings for the group, said she was unconcerned about the outage.


"It doesn't matter," she said. "I never even gave it a second thought. To me, the city is bigger, stronger and more vibrant than it's ever been."


_


Associated Press writers Beth Harpaz, Brett Martel and Barry Wilner contributed to this report.


Read More..

How close is N. Korea to nuclear arms?


























Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military


Kim Jong Un and his military





<<


<





1




2




3




4




5




6




7




8




9




10




11




12




13




14




15




16




17




18




19



>


>>







STORY HIGHLIGHTS


  • North Korea has warned that it plans to carry out underground nuclear tests

  • Would be the third nuclear test Pyongyang has carried out since 2006

  • Comes after new U.N. sanctions for North Korea's December satellite launch

  • Experts say its unknown how close the North is to being able to launch a nuclear warhead




(CNN) -- North Korea's intention to carry out a new nuclear test, coming on the heels of December's successful satellite launch, suggests that Pyongyang is moving forward toward developing a nuclear warhead and a deliverable missile system, experts say. The question remains: How close are they?


The answer, like the cloistered "hermit kingdom," remains largely a mystery as does much of its nuclear program.


"It's a question over the delivery system and the reliability of those systems," said Daniel Pinkston, senior analyst for the International Crisis Group covering Northeast Asia. "That is essentially unknown, or known by a few people inside North Korea."


South Korean rocket successfully puts satellite in orbit


A 2009 report by International Crisis Group suspects that North Korea "probably has somewhere between six and twelve nuclear weapons, or at least explosive devices," but notes that experts are divided whether any of these to be now useable as warheads -- small enough to be mounted on missiles and durable enough to withstand the hazards of flight.










"It's pretty clear that these are advanced technologies and the systems present a number of engineering challenges -- and to master these technologies requires a number of tests," Pinkston said.


North Korea on Google Maps: Monuments, nuclear complex, gulags


Last month, on the first anniversary of Kim Jong Il's death, North Korea successfully launched a three-stage rocket that put the satellite, Shining Star-3, into orbit. The launch also signaled that the North's long-range missile program now puts the United States within reach.


Last week, the United Nations Security Council unanimously passed a resolution that strengthened sanctions against the north in response to the December rocket launch. Declaring sanctions to be tantamount to "a declaration of war," North Korea is threatening further missile and nuclear tests which it said are a new phase of confrontation with the United States.


For the U.N. and North Korea: Game on


A new underground nuclear test would be the third, following tests in 2009 and 2006. While seismographs will be able to confirm if North Korea has an underground test, the size of the nuclear blast will be difficult to determine, Pinkston said.


"From what I understand it is virtually impossible to mask a nuclear event in terms of concealing it due to seismographs," Pinkston said. "But as far as the accuracy of the assessment of the yield, that's where the difficulty lies."


Koreas in 2013: Watch the generational politics


Estimates of the size, or "yield," of the 2009 nuclear test range from 2.5 kilotons to 6 kilotons, Pinkston said. By comparison, the atomic bomb dropped on Hiroshima had a yield of 16 kilotons.


While the specter of a North Korea able to send nuclear-tipped missiles is worrisome, equally troublesome to the international community is Pyongyang's atomic technology fuelling the black market for weapons.


"If its clandestine uranium-enrichment program has made strides, Pyongyang could demonstrate that it will gain access to a far larger pool of fissile material than simply its limited supply of weapons-grade plutonium," wrote Patrick M. Cronin, an Asian expert at the Center for New American Security, in a CNN op-ed. "A larger pool of fissile material is a dual threat: As a vital part of an expanded nuclear weapon program and as a commodity to be sold on the black market."


Timeline: North Korea's rocket-fueled obsession







Read More..

Super Bowl ratings down from a year ago









NEW ORLEANS—





Sunday's close Super Bowl contest between the Baltimore Ravens and the San Francisco 49ers failed to beat last year's game in total viewers, CBS Corp said on Monday.


An average of 108.41 million viewers tuned in, compared with 111.3 million a year ago when the New York Giants defeated the New England Patriots on NBC. CBS said it was the third-most-watched program in television history, behind last year's Super Bowl and 2011's match-up between thePittsburgh Steelers and the Green Bay Packers, which garnered 111 million viewers.








CBS did not immediately respond to a request for comment on whether a 35-minute partial electrical blackout in the third quarter of the game affected ratings. Advertisers paid $4 million on average for a 30-second spot during the game.


Late Sunday, CBS said in a statement that "all commercial commitments during the broadcast are being honored."


 Commissioner Roger Goodell told reporters on Monday an investigation was under way to determine the cause of the disruption. He said there was no indication that Beyonce's halftime show had anything to do with the outage.


CBS said earlier on Monday that the telecast earned an average overnight household rating of 48.1 in Nielsen's metered markets, up 1 percent compared with last year's Super Bowl. CBS said the rating excludes the blackout, which occurred just after the start of the second half, between 8:45 p.m. and 9:15 p.m. Nielsen's "metered markets" represent the top 56 U.S. TV markets.


The highest-rated period during Sunday's Super Bowl occurred from 10:30 p.m. to 10:47 p.m., when the game came down to the wire and the Ravens were able to hold off a furious second-half comeback by the 49ers to win 34-31. CBS said that over those 17 minutes, an average of 113.92 million viewers were tuned in.


The Super Bowl, which determines the NFL champion for the 2012 season, is broadcast live in more than 180 countries and in more than 30 different languages. The commercials during the game regularly net a record amount of ad revenue for the network that broadcasts the game in a given year.


Analysts said stand-out commercials included Chrysler's Jeep ad featuring a patriotic salute to U.S. troops and narration by Oprah Winfrey, an Oreo ad asking viewers to vote cookie or creme, and a scantily clad male Calvin Klein model.


Bluefin labs, a firm that tracks social media activity, said viewers produced 30.6 million social media comments, up from 12.5 million last year. The most talked about ad on social media was the Dodge Ram Trucks "Farmer" commercial, followed by Taco Bell's "Viva Young" spot featuring senior citizens behaving badly, Bluefin said.


The Super Bowl also gives the network that airs it an unprecedented promotional platform for its other programming, with the time slot immediately after the game among the most coveted in television. This year CBS chose to showcase its new crime drama "Elementary," a post-modern take on "Sherlock Holmes," in that time slot.


Just under 21 million viewers stuck around after the game to watch "Elementary," making it the lowest-rated post Super Bowl show in 10 years. Part of the blame for the weak rating can be cast on the game's 35-minutes blackout, which pushed "Elementary's" start time to after 11 p.m. on the East Coast.


Last year, NBC's "The Voice" scored 37.6 million viewers in the post-Super Bowl slot. ABC's airing of "Alias" in 2003 garnered only 17.3 million viewers.


"Elementary" averages around 10 million viewers during its normal airings.





Read More..

North Korea nuclear test would face "firm" U.N. action: South Korea


UNITED NATIONS (Reuters) - The U.N. Security Council is united on North Korea's nuclear arms program and will undoubtedly approve tough measures against Pyongyang if it carries out a new atomic test as expected, South Korean U.N. Ambassador Kim Sook said on Monday.


"The North Korean nuclear test seems to be imminent," Kim, who is president of the Security Council this month, told reporters. "Obviously there are very busy activities going on at the (North Korean) nuclear test site, and everybody's watching."


"Everybody is unified and they are firm and resolute," he said. "I would expect very firm and strong measures to be taken ... once they go ahead with such provocation."


(Reporting By Louis Charbonneau; Editing by Sandra Maler)



Read More..

"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



Read More..

Energy industry develops nontoxic fracking fluids






PITTSBURGH (AP) — The oil and gas industry is trying to ease environmental concerns by developing nontoxic fluids for the drilling process known as fracking, but it’s not clear whether the new product will be widely embraced by drilling companies.


Houston-based energy giant Halliburton Inc. has developed a product called CleanStim, which uses only food-industry ingredients. Other companies have developed nontoxic fluids as well.






Halliburton is in the business to provide solutions to our customers,” said production manager Nicholas Gardiner. “Those solutions have to include ways to reduce the safety or environmental concerns that the public might have.”


Environmental groups say they welcome the development but still have questions.


The chemicals in fracking fluids aren’t the only environmental concern, said George Jugovic, president of PennFuture. He said there is also concern about the large volumes of naturally occurring but exceptionally salty wastewater and air pollution.


It’s premature to say whether it will ever be feasible to have fluids for fracking that are totally nontoxic, said Scott Anderson, a senior adviser for the Environmental Defense Fund.


“But we are encouraged to some extent by recent industry efforts to at least reduce the toxicity,” Anderson said.


Fracking, short for hydraulic fracturing, has made it possible to tap into energy reserves across the nation but also has raised concerns about pollution, since large volumes of water, along with sand and hazardous chemicals, are injected deep into the ground to free the oil and gas from rock.


Regulators contend that overall, water and air pollution problems are rare, but environmental groups and some scientists say there hasn’t been enough research on those issues. The industry and many federal and state officials say the practice is safe when done properly, but faulty wells and accidents have caused problems.


Halliburton says CleanStim will provide “an extra margin of safety to people, animals and the environment in the unlikely occurrence of an incident” at a drilling site.


Gardiner said Halliburton has developed a chemistry-scoring system for the fluids, with lower scores being better. CleanStim has a zero score, he said, and is “relatively more expensive” than many traditional fracking fluids.


Both Jugovic and Anderson noted that one of the most highly publicized concerns about toxic fracking fluids hasn’t really been an issue: the suggestion that they might migrate from thousands of feet underground, up to drinking water aquifers.


“Most people agree there are no confirmed cases so far” of fracking chemicals migrating up to drinking water, Anderson said. But he added that simple spills of fluid on the surface can cause problems.


“The most likely of exposure is not from the fracking itself. It is from spills before the fracking fluid is injected,” Anderson said.


There also may be technical and cost issues that limit the acceptance of products such as CleanStim. There is tremendous variation in the type of shale rock in different parts of the country. For example, drillers use different fluids even within the same state, and the specific mix can play a large role in determining how productive a well is.


Gardiner wouldn’t say how widely used CleanStim is. “The customers who do use it certainly like the material,” he added.


Terry Engelder, a geologist at Penn State University, said he visited a well in that state last year that used just water, sand and three additives in the fracking fluid.


But Engelder added that “green” and “toxic” can be “soft words without real meaning.” He noted that consumers, businesses and farms use vast quantities of chemicals that can contribute to pollution, from cleaners and soaps to fertilizers and pesticides. Yet all those compounds are routinely flushed down the drain, ending up in nearby rivers and streams.


“Eventually industry would like to end up with a mix of just water, sand, and food-grade additives,” Engelder said of fracking. “Companies are learning to deal with fewer and fewer additives.”


Energy News Headlines – Yahoo! News





Title Post: Energy industry develops nontoxic fracking fluids
Url Post: http://www.news.fluser.com/energy-industry-develops-nontoxic-fracking-fluids/
Link To Post : Energy industry develops nontoxic fracking fluids
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..

Gasol help Lakers hold on to beat Pistons 98-97


AUBURN HILLS, Mich. (AP) — Pau Gasol had 23 points and 10 rebounds and was the last line of defense for Los Angeles, contesting Detroit's last-second alley-oop attempt and helping the Lakers hold on for a 98-97 victory over the Pistons on Sunday.


Los Angeles blew an 18-point third-quarter lead but went back ahead for good on Kobe Bryant's driving three-point play with 1:09 remaining. That gave the Lakers a 98-95 lead, and they held on despite missing four free throws in the final 16.8 seconds.


The normally reliable Steve Nash missed two with 2.7 seconds left, giving Detroit one more chance. Down by one, the Pistons inbounded from midcourt with 1.2 seconds to play. They tried a lob to rookie big man Andre Drummond, but with Gasol contesting the play, Drummond couldn't convert his one-handed dunk attempt.


The Lakers have won five of six, including their last two games without Dwight Howard. The All-Star center has been out with a right shoulder problem.


Detroit was still without guard Jose Calderon, who the Pistons acquired from Toronto on Wednesday. Calderon has not been available to play because of unresolved visa issues.


The Lakers trail eighth-place Houston by 3½ games in the Western Conference playoff race.


Bryant scored 18 points but shot poorly from the perimeter. After an airball with the score tied at 95, he decided to drive to the basket the next time down. Bryant muscled through a foul and scored a basket that was counted on a continuation call.


Detroit's Will Bynum cut the lead to one, and after Gasol missed, Drummond missed a baseline fadeaway that would have given the Pistons the lead. Earl Clark missed two free throws for Los Angeles with 16.8 seconds left, but Bynum's driving shot over Gasol went off the glass and rattled in and out.


Nash entered the game as a 90.4-percent free throw shooter for his career — the top mark in NBA history for players with at least 1,200 attempts.


When he missed two in the final seconds, the Pistons shockingly had a chance to win, but Drummond just missed his dunk attempt and looked surprised that no foul was called on the play.


The Lakers scored 10 straight points early in the third quarter to take a 72-54 lead. Bryant highlighted that run with a one-handed dunk while Detroit's Brandon Knight tried in vain to prevent an easy basket.


The Pistons rallied quickly, with the 6-foot-11 Drummond showing off his athleticism around the basket. Drummond's two-handed dunk over Gasol made it 76-70, and the Lakers led 78-72 after three.


Bynum had 18 points and 10 assists for the Pistons, and Greg Monroe added 20 points and 12 rebounds.


Clark had 17 points for Los Angeles. Nash had 11 points and 10 assists.


Detroit's Rodney Stuckey was called for his third foul in the first quarter, then picked up a technical to boot. The Pistons did their best to exploit the Lakers in transition, but Knight missed a layup in the second quarter, and Kyle Singler missed one of his own moments later.


Detroit turned the ball over nine times in the half, and the Pistons finished the second quarter with a terrible defensive breakdown. Bryant was inbounding around midcourt with 0.4 seconds left in the half, and Clark somehow slipped free for an alley-oop dunk at the buzzer that gave Los Angeles a 62-51 lead.


The Lakers did a better job defending that situation on the final play of the game.


NOTES: Knight became tangled with Metta World Peace of the Lakers with 1:43 left in the first half. That got a rise out of the crowd, which no doubt remembered World Peace's role in the infamous "Malice at the Palace" brawl on the Pistons' court in 2004. World Peace was assessed a flagrant foul this time, but the situation didn't escalate. ... Bryant had five assists, snapping his streak of five straight games with at least eight.


Read More..