Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Wall Street slips after disappointing Intel results

NEW YORK (Reuters) - Stocks edged lower on Friday from a five-year high for the S&P 500 as a weak outlook from tech heavyweight Intel offset a better-than-expected quarterly profit at Morgan Stanley.


But the S&P 500 was still on track to end higher for a third consecutive week.


Shares of Intel Corp slumped nearly 7 percent to $21.11 a day after it forecast quarterly revenue below analysts' estimates and announced plans for increased capital spending amid slow demand for personal computers.


"Intel earnings weren't that bad, although their revenue was weak. It sparks fears about not only the company but about the whole PC sector, and that's pressuring the market today," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.


The Intel results were offset somewhat by Morgan Stanley , which reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock jumped 7.4 percent to $22.29.


Overall, S&P 500 fourth-quarter earnings rose an estimated 2.5 percent, according to Thomson Reuters data. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.


The Dow Jones industrial average <.dji> was down 15.17 points, or 0.11 percent, at 13,580.85. The Standard & Poor's 500 Index <.spx> was down 3.51 points, or 0.24 percent, at 1,477.43. The Nasdaq Composite Index <.ixic> was down 13.98 points, or 0.45 percent, at 3,122.03.


On Thursday, the S&P 500 rose to its highest since late 2007, and that could prompt investors to lock in recent gains, analysts said.


Despite the day's decline, market sentiment was still positive on speculation that chances were better of avoiding a debt ceiling fight in Washington. House Republicans signaled on Thursday they might support a short-term extension of U.S. borrowing authority next month.


"The debt ceiling issue is sort of out of the news. The market has definitely become complacent. And we all know that the issue will be dealt with, we just need to find out when. If December is any guide, they are going to leave it up to the last minute so the market is definitely more complacent than it should be for now," Ghriskey said.


Reflecting the complacency, the CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, fell 4.1 percent at just above 13. The VIX usually moves inversely to the S&P 500 as it is used as a hedge tool against further market decline.


Economic data from China provided some support to the market, though the focus remained on U.S. corporate earnings. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.


General Electric reported a better-than-expected rise in earnings, spurred by robust demand in China and oil-producing countries. Shares were up 2.9 percent to $21.92.


Despite the gains by Morgan Stanley, financial stocks sagged as Capital One Financial reported disappointing profit. Capital One slumped 7.7 percent to $56.87, while the KBW bank index <.bkx> slipped 0.9 percent.


Research In Motion climbed 6.6 percent to $15.91 after Jefferies Group boosted the BlackBerry maker's rating and price target.


(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)



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Scientist Proposes to Girlfriend in Amazing Northern Lights Time-Lapse Video






Dazzling green, purple and turquoise auroras glimmer in the sky over Iceland while a man proposes to his girlfriend in a new time-lapse video.


Neuroscientist Alex Rivest shot the amazing aurora time-lapse video, which featured his own proposal, over several days and nights in September 2012.






“On a trip to Iceland I asked my girlfriend to marry me under the aurora borealis,” Rivest wrote in a video caption. “She said yes.”


The couple is seen hugging after Rivest bows down on one knee toward the end of the footage, all while gorgeous displays of the Northern Lights dance in the night sky.


“Iceland is a pretty amazing place to watch the stars and the aurora,” Rivest told SPACE.com.


The aurora borealis, as well as its Southern Hemisphere counterpart, the aurora australis, is created when charged particles from the sun hit atoms in Earth’s high-altitude atmosphere, which are directed by the planet’s magnetic field. The resulting light show has been dubbed the northern lights in the north, and the southern lights in the south.


Rivest has a Ph.D. from MIT and studies how brains form episodic memories. Rivest is also the founder of a non-profit called Blue Kitabu, which works to build sustainable schools in Ghana and Kenya. And of course, he’s also an avid photographer and videographer.


The aurora time-lapse was shot with a Canon 5D Mark II and a Canon 40D, using a triggering device from pclix.com.


This isn’t the first time an astronomical event has served as a backdrop for a marriage proposal caught on video. Last year, stargazer Shookie Basuroy proposed to girlfriend Rajeep while watching a total solar eclipse from a hot air balloon above Cairns, Australia, on Nov. 14.


Rajeep, like Rivest’s girlfriend, said “yes.”


Follow Clara Moskowitz on Twitter @ClaraMoskowitz or SPACE.com @Spacedotcom. We’re also on Facebook & Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Data, eBay earnings lift Wall Street to five-year high

NEW YORK (Reuters) - Wall Street rose on Thursday, with the S&P 500 climbing to a five-year intraday high, on improved housing and jobs data along with better-than-expected results from online marketplace eBay .


The data showed the number of Americans filing new claims for unemployment benefits fell to a five-year low last week, while groundbreaking for homes rose to the fastest pace in four years last month.


Strength in the housing and labor markets is key to sustained growth and higher corporate profits. Job market improvement helps stimulate consumer spending while a recovery in housing means more purchases of appliances, furniture and other household goods as well as a source of employment.


"The real estate numbers all look good, sales looked good, prices looked good, housing starts looked good," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"The only thing that still doesn't look really good in my mind are the employment numbers but even the claims were pretty good and inflation seems to be nonexistent so what's to stop the party from going?"


The Dow Jones industrial average <.dji> gained 82.97 points, or 0.61 percent, to 13,594.20. The Standard & Poor's 500 Index <.spx> advanced 8.31 points, or 0.56 percent, to 1,480.94. The Nasdaq Composite Index <.ixic> rose 17.12 points, or 0.55 percent, to 3,134.66.


PulteGroup Inc shares gained 4.9 percent to $20.29 and Toll Brothers Inc advanced 2.2 percent to $35.68. The PHLX housing sector index <.hgx> climbed 2.1 percent.


EBay's shares rose 3 percent to $54.47 a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.


The S&P is on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007.


But gains were tempered by weakness in the financial sector, with Bank of America down 4.3 percent to $11.27 and Citigroup off 3 percent to $41.22 after they posted their results.


Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits, while its new chief executive cautioned the bank needed more time to deal with its problems.


The S&P financial sector index <.spsy> slipped 0.14 percent as the only one of the 10 major S&P sectors to decline.


S&P 500 corporate earnings for the fourth quarter are expected to rise 2.3 percent, Thomson Reuters data showed. Expectations for the quarter have fallen considerably since October when a 9.9 percent gain was estimated.


With investors anticipating the current earnings season to be lackluster, their focus will be on the corporate earnings outlook for the months ahead, analysts said.


Shares of Boeing extended recent declines after the United States and other countries grounded the company's new 787 Dreamliner after a second incident involving battery failure. Boeing shed 0.4 percent to $74.05 and is down 1.5 percent for the week so far.


Market breadth was solid, with advancers outpacing decliners on the New York Stock Exchange 2,234 to 650, while on the Nasdaq the ratio was 1,602 to 762 in favor of advancing stocks.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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Wall Street flat as Apple gains; Boeing drags Dow

NEW YORK (Reuters) - Stocks held near the unchanged mark on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks.


Goldman Sachs shares hit their highest level since May 31, 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


JPMorgan shares edged up 0.2 percent at $46.44 and Goldman was up 3.5 percent to $140.27. The KBW bank index <.bkx> gained 0.3 percent.


But with only 37 companies in the S&P 500 having reported earnings so far this season, investors are exercising caution until signs of growth can emerge.


According to Thomson Reuters data, S&P 500 earnings growth is now seen up 2.2 percent from a year ago, Thomson Reuters data showed.


"We didn't have much in the way of earnings, we had some of the big banks, but you've got the heart of earnings season coming up and people are sort of on the sidelines here," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.


Shares of Dow component Boeing fell 3.3 percent to $74.39, the biggest drag on the Dow, on concerns about its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.


The Dow Jones industrial average <.dji> dropped 35.95 points, or 0.27 percent, to 13,498.94. The Standard & Poor's 500 Index <.spx> shed 1.60 points, or 0.11 percent, to 1,470.74. The Nasdaq Composite Index <.ixic> gained 2.91 points, or 0.09 percent, to 3,113.68.


Losses were curbed on the S&P 500 and the Nasdaq moved higher on a bounce in Apple shares, which were up 3.6 percent at $503.31 after losses in three straight sessions. Morgan Stanley stamped the tech giant as a "best idea," citing overblown concerns about iPhone shipments. The S&P technology sector index <.splrct> gained 0.5 percent.


"Apple rebounding certainly helps the market - if Apple wasn't rebounding I don't think we would be at a flat level," said Ghriskey.


Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 4.6 percent to $12.57 after jumping more than 21 percent over the past two sessions.


U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


Other data showed U.S. homebuilder confidence in the market for single family homes held steady near seven year highs in January, suggesting the outlook for the housing market remained upbeat.


(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)



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Mangroves Are Nature’s Super Heroes, But They’re Not Invincible






Mangrove forests are the X-Men of the environment: persecuted, little understood, but protecting innocents from death and destruction. Mangroves provide coastal areas with natural barriers from the devastation of hurricanes, cyclones, tsunamis, and tidal waves—super storms that threaten to become the new normal if manmade climate change continues unmitigated. 


Superheroes they may be, but mangroves are declining worldwide due to human activity. A report published this month shows that the largest tract of mangrove forest in the world, the Sundarbans in India and Bangladesh, is degrading rapidly. According to the research, conducted by the Zoological Society of London, as much as 200 meters—that’s one-eighth of a mile—of mangrove forest is disappearing from the coastline each year, weakening the region’s natural protection from extreme weather events.  






MORE: Jordan River, Site of Jesus’ Baptism, Too Polluted for Tourists


Sundarbans translates as “beautiful forests” in the Bengali language. It is home to nearly 500 species of reptiles, amphibians, and mammals, including the endangered Bengali tiger—all of which are threatened by the loss of the mangroves.  


Mangroves are coastal wetlands found in tropical and subtropical areas, characterized by a rich diversity of tree, palm, and plant life that can live in salty, tidal conditions. Mangroves are relatively rare, comprising less than one percent of all forest areas.


But they are also some of the most valuable ecosystems in the world, and they’re far more efficient at sequestering carbon than terrestrial tropical forests. Their disappearance releases stored carbon into the atmosphere; scientists are still debating how much. Intact, mangrove forests may be a key element in the fight against climate change.   


“Mangroves can hold carbon in place for hundreds of years. Most inland forests only hold carbon for about 50 years,” said Alfredo Quarto, executive director of the Mangrove Action Project. “When mangroves are disturbed by shrimp farming or by coastal developments, they release carbon at a high rate.”


Unfortunately, disturbances to mangrove forests are common.


An international team of researchers led by the U.S. Geological Survey (USGS) and NASA recently published the results of a project that mapped the deforestation of mangroves over a 25-year time period. The researchers found that 35 percent of the world’s mangrove forests were lost between 1980 and 2000. Just 6.9 percent of mangroves currently exist within protected areas.


 “The current estimate of mangrove forests of the world is less than half what it once was, and much of that is in a degraded condition,” lead author Chandra Giri of USGS told Science Daily


In North America, several species of mangroves surround parts of the Gulf of Mexico. Florida has an estimated 469,000 acres of mangroves, according to the state’s department of environmental protection, providing protected nursery areas for fish, crustaceans, and shellfish, nesting areas for coastal birds, and ecosystem services like nutrient trapping and cycling.


The devastating 2004 tsunami in the Indian Ocean showed what mangroves could do for human settlements, too. The tsunami killed more than 200,000 people—and experts say the scale of disaster would have been even larger without the mangrove forests, which shielded coastal inhabitants from the sheer force of the tsunami’s waves. 


Agricultural production, tourist development, urban expansion, and especially shrimp farming makes it hard for these valuable forests to do their work. Think of these activities as the kryptonite of mangroves, threatening their effectiveness and range.


The Mangrove Action Project is leading a campaign to restore lost mangroves and educate the public about what they can do to help stop the decimation. Alfredo Quarto says shrimp farming in the global south is a major cause of mangrove deforestation—and that to help mangroves, we have to cut back on the shrimp scampi. 


“We’re seeing a huge demand growing in the U.S. for shrimp from Southeast Asia, South Asia, and Latin America,” Quarto told TakePart. “Shrimp farmers in many countries move into new areas every few years, causing the loss of mangroves. We want people to know about the problem and play an active role in what they consume. We could cut back our shrimp consumption and not be hurting in terms of the possibilities on our plate.”


Related Stories on TakePart:


Stunning Photos: China’s Yantze River Mysteriously Turns Bright Red


• Millions of Fish-Killing Plastic Pellets Wash Up on Hong Kong Beaches


• Raw Sewage: The Next Environmental Catastrophe?



Alison Fairbrother is the director of the nonpartisan Public Trust Project, which investigates and reports on misrepresentations of science by corporations and government. She has written for the Washington Monthly, the Washington Spectator, Grist, and Politics Daily, among others. Alison is based in Washington DC. @adfairbrother | TakePart.com


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Wall Street pulls flat as Apple pares losses, retailers gain

NEW YORK (Reuters) - Stocks pared losses and pulled near the unchanged mark on Tuesday as tech heavyweight Apple came off earlier lows and economic data helped retailers advance.


Apple fell for the third day in a row as the biggest drag on both the S&P 500 and Nasdaq 100 <.ndx> after reports on Monday of cuts to orders for iPhone parts. Shares were down nearly 2.5 percent at $489.11, rebounding somewhat from a session low of $483.84, its lowest level since February.


Retailer stocks advanced and helped to minimize the market's decline after a government report that retail sales rose more than expected in December was seen as a favorable sign for fourth-quarter growth. However, a separate report showed manufacturing activity in New York state contracted for the sixth month in a row in January.


"It's trying to push its way up in here, the question is, has Apple stabilized maybe a little bit down here? The retail sales numbers were really good, much better than expected this morning and that is helping the whole retail group," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.


"The bulls are clearly trying to take control of this market and hold it up here. There is clearly buying on any of the dips."


American Eagle Outfitters Inc gained 4 percent to $20.43 and Gap Inc rose 3 percent to $32.32. The Morgan Stanley retail index <.mvr> climbed 1.2 percent.


Investors also continue to eye the looming debt ceiling debate. On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.


Resolving the debt ceiling debate is more a question of how than if. Investors don't expect a U.S. default, but they are also wary of another eleventh-hour agreement like the one in August 2011.


The Dow Jones industrial average <.dji> shed 1.42 points, or 0.01 percent, to 13,505.90. The Standard & Poor's 500 Index <.spx> dipped 0.46 points, or 0.03 percent, to 1,470.22. The Nasdaq Composite Index <.ixic> lost 6.30 points, or 0.20 percent, to 3,111.20.


An expected lackluster earnings season also kept investors from taking aggressive bets. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.8 percent from a year ago, Thomson Reuters data showed.


Homebuilder Lennar reported a sharp rise in quarterly profit, but the stock fell 2.1 percent to $40.16 on worries that growth in orders was slowing. The PHLX housing sector index <.hgx> declined 0.3 percent.


Express Inc surged 22.5 percent to $17.22 as the biggest percentage gainer on the New York Stock Exchange after the apparel retailer raised its fourth-quarter and full year 2012 outlook.


Dell Inc shares added to earlier gains, up 5 percent to $12.91 after sources said talks to take the computer maker private are in an advanced stage.


Facebook declined 1 percent to $30.66 after the company unveiled a "graph search" feature that CEO Mark Zuckerberg said would help its billion-plus users sort through content within the social network and its content feeds.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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W.Va. average gas prices rise 2 cents per gallon






CHARLESTON, W.Va. (AP) — Motorists are paying more for gas in West Virginia than they did a week ago.


AAA East Central says the average price for a gallon of regular gasoline is $ 3.44, up 2 cents from a week ago.






The national average remained unchanged at $ 3.30.


The highest average price is in Martinsburg, where a gallon of regular costs $ 3.60. Motorists in Parkersburg are paying the lowest price at $ 3.28.


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Apple demand worries weigh on S&P, Nasdaq

NEW YORK (Reuters) - Wall Street dipped on Monday as concerns about demand for Apple products sent shares of the tech heavyweight lower and investors faced a busy week for earnings in what is expected to be a uninspiring quarter.


Apple lost 3.2 percent to $503.60 as the biggest weight on both the S&P 500 and Nasdaq 100 <.ndx> indexes after reports that the tech company has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock earlier hit a session low of $498.51, the first dip below $500 since February 16.


"It's clear from them reducing their supply orders that the sales haven't met their expectations, though certainly the orders they put into place for the iPhone 5 displays were higher than those that were in place for the prior phone," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.


"Certainly, the rate of growth that they had - the tremendous surge in their revenue, stock price, all things do eventually slow and come down, so it's not a big surprise - the big question always is when."


Apple suppliers also lost ground, with Cirrus Logic off 8.7 percent to $28.82 and Qualcomm down 1.4 percent to $63.98. The S&P tech sector <.gspt> declined 1 percent as the worst performer of the 10 major S&P sectors.


The pace of earnings season picks up this week with 38 S&P 500 companies set to report, including Goldman Sachs , Bank of America , Intel and General Electric .


Overall earnings are expected to grow by just 1.9 percent in this reporting period, according to Thomson Reuters data.


President Barack Obama warned Congress at a news conference on Monday that a refusal to raise the U.S. debt ceiling next month, leading to a government shutdown, could trigger economic chaos.


"Again, we are dealing with a public relations type of approach trying to get to (Obama's) preferred result," Jankovskis said.


Separately, Federal Reserve Chairman Ben Bernanke will be speaking on monetary policy, recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (0200 EST).


The Dow Jones industrial average <.dji> gained 0.76 points, or 0.01 percent, to 13,489.19. The Standard & Poor's 500 Index <.spx> shed 4.24 points, or 0.29 percent, to 1,467.81. The Nasdaq Composite Index <.ixic> lost 16.42 points, or 0.53 percent, to 3,109.21.


Appliance and electronics retailer Hhgregg Inc slumped 8.9 percent to $7.19 after the electronics and appliance retailer cut its same-store sales forecast for the full year.


Transocean Ltd has disclosed that billionaire activist investor Carl Icahn has acquired a 1.56 percent stake in the offshore rig contractor and is looking to increase that holding. Its shares advanced 0.9 percent to $54.58.


The Dow, which does not list Apple as one of its components, fared better than the other two indexes as Hewlett-Packard rose 3.7 percent to $16.75 after JPMorgan upgraded its rating on the stock and raised its price target to $21 from $15.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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With NYTimes environmental desk gone, Green Blog becomes essential






A few days ago we woke up to the news that the New York Times is eliminating their environment desk.


Predictably, the immediate reaction of many was “oh, noooo!”.After all, whenever we hear such news, about a science or health or environmental desk being eliminated at a media organization, this means the reporters and editors of that beat have been fired.But New York Times did not fire anyone. Instead, they will disperse the environmental reporters around the building. Instead of all of them sitting together, chatting with each other, they will sit next to other people, chatting with political, economic, science, health, education and other reporters.The concern also arose as this piece of news came as a part of broader news of cost-cutting at the New York Times and actual impending layoffs of high-level editors.And concern is certainly warranted. But there is potential for this to be a good thing. It all depends on the implementation.My first reaction, quoted here, was that this may be a way to modernize environmental reporting at the Times. After all, reporters were not fired, the senior editors may be. All the environmental expertise is still at the Times, but now outside of its own ghetto, able to cross-fertilize with other beats, and to collaborate with reporters with other domains of expertise.My cautiously positive reaction to this news probably comes from my recent thinking (and blogging) about three aspects of modern media. One is about the distinction between beats and obsessions. The other one is about the importance of expertise in today’s journalism. And the other one is the distinction between push and pull models of science (and other) communication.Let me parse these a little bit more….Beats vs. ObsessionsI wrote at length about this before, but let me restate it briefly, the part that is the most relevant to this situation.







….But another way the difference is explained is that an obsession is actually broader, not narrower, by being multidisciplinary. Instead of looking at many stories from one angle, it focuses on a single story from many angles. This may be a way to solve some Wicked Problems….



By dispersing environmental reporters from a dedicated desk to other desks, New York Times eliminated the environmental beat. Now environmental reporters are free to follow their own obsessions – whatever aspect of the environment they most care about at any given time. In essence, The New York Times is starting to quartzify itself (did I just invent a new word? I bet Quartz folks will be pleased). Instead of the environmental vertical, The New York Times will now have an environmental horizontal – environmental angle permeating a lot of other stories, as environmental reporters talk to and influence their new office neighbors.Importance of ExpertiseI have argued many times before, and most recently and forcefully here, that having or building expertise on the topic one covers is an essential aspect of modern journalism. Being a generalist will become harder and harder to do successfully. Specialization rules. And there are many kinds of expertise and ways of being a specialist.It is much easier to turn an expert into a journalist than a journalist into an expert (though that is certainly not impossible), and there have been many calls lately (here is just the latest one) for journalism schools to insist on science, and even more importantly on math and statistics classes as requirements for their students.I will now make an assumption that all NYTimes environmental reporters actually have sufficient expertise to report on the environment. They are now bringing that expertise to other desks. And they are now forced to discuss this with people whose expertise lies elsewhere. They will get into debates and discussions. They will teach each other. They will change each others minds on various things. They will be prompted by those discussions to dig in deep and do some research. That will inspire them to write the next piece and next piece, possibly in collaboration with each other. By forcing cross-fertilization between people with different specialties, NYTimes will force them all to learn from each other, become more sophisticated, to tackle more complex and nuanced stories, and to produce better articles. That’s the theory… We’ll see if that happens in practice. It all depends on implementation.Push vs. PullYou may have seen this excellent post that Danielle re-posted the other day.I know I talk a lot about push vs. pull methods for science communication, but the earliest appearance of the concept on my blog is this brief but cool video clip. Soon after, I described and explained the concept in much more detail here and here. I have since applied it to a bunch of other topics, from the role of new/upcoming journalists to the different reporting strategies for different areas of science to strategies for gaining trust in the broader population to differences between science reporting on blogs vs traditional media to narrative storytelling in science.I have argued many times that, despite the proliferation of many new outlets that may do reporting better, traditional big venues, like The New York Times (and just a few other ‘biggies’, like BBC, Guardian, Washington Post, The Economist, PBS, NPR and not many more), will continue to play an important role in the media ecosystem for quite some time. These are trusted brands for far too many people who grew up in that world. And they generally do a good job, even if nobody can be perfect, and expert bloggers are quick to point out errors as they appear.But, nobody but a few crazy news junkies, all of whom are probably in the business anyway so not the target audience, reads any newspaper, including The New York Times, every day, every page, every article. I’ll tell you a secret – print edition of The New York Times lands on my front porch every night. My wife reads some of it sometimes. It is there mostly in case something I see online is so long that I want to sit back and read it on paper rather than on screen. Or if a friend of mine publishes something so I want to cut it out. Or my name appears in it, and I want to cut it out and save it, to show my Mom.But back in the old times, when I actually read newspapers on paper, how did I do it? I pick up the paper. I open it up. I take out all the sections I am not interested in – Sports, Auto, Business, Real Estate, Classifieds, etc. – and throw them directly into the recycling bin. Then I read the parts I am interested in (front sections, domestic and world news, opinion, Sunday Magazine, Week In Review, Book Review). When I was a kid, I read the comics first, then TV and movie listings, then Kids section, perhaps some nature/science, perhaps some sports.Other people have their own preferences. If there is such a thing as “Environment” section, or “Health” section, or “Science” section, how many people do you think automatically recycle them and go straight to Sports instead?A dedicated Environment section is a pull method. It pulls in readers who are already interested in the topic. Others never see it. And being online doesn’t change a thing – it works the same way as on paper, in its own ghetto, isolated from the stuff people actually read.The ‘push’ method inserts science/health/environment stories everywhere, in all sections of the paper, linked from all the pages of the website. It includes science/health/environment angles into many other stories. People interested in politics, economics, education, art, culture, comic strips, whatever, get a steady diet of relevant information mixed into their breakfast. They can’t avoid it any more. It is pushed onto them without their explicit request.Let’s hope that The New York Times is thinking this way, as that would be the best possible outcome.Central importance of the Green BlogThe managing editor Dean Baquet was reported to say this about the Green Blog: “If it has impact and audience it will survive”.That is disappointing. Green Blog’s destiny is not, and especially now should not, be decided by the vagaries of traffic. It has suddenly become much more essential to the Times than they know, or so it seems. Let me try to explain…Dispersing all the environmental reporting all around New York Times is a potentially great “push” strategy – feeding the unsuspecting readers a steady diet of environmental thinking.But dispersing all the environmental reporting all around New York Times also makes it very difficult for the “pull” audience, the readers who are interested in environment, to find everything. People who are interested in environment, people like me, will be forced to look into automatically recyclable sections, like Business or Real Estate for articles with potentially environmental angles. That takes time and energy we don’t have, so we’ll rather miss those articles.Now, some tech-savvy know-it-all is likely to post a comment “Use Tags”. Sure, you are a programmer, you know what tags are. Can you explain that to your grandma? Can you teach her how to use them?No, the answer is Green Blog.Green Blog should now become not just a cool place for interns to build their reporting chops, but also:- place where all environmental reporters link to, explain, describe and quote from all their articles that appear elsewhere in the Times,- place where someone puts together, every week, a summary and round-up of all environment-related Times articles of the previous week,- place where all environmental reporters come to crowdsource their stories, get feedback and expert information from readers as they are working on their more and more complex stories- place where all environmental reporters come to see each others work, now that they are not sitting next to each other,- a central place where people like me can come and at a single glance see all of the Times environmental reporting in one place, and- a central place where someone like Andy Revkin can check each day to see what else is going on in the Times regarding environment, so he can blog about it on Dot Earth.This is like what ethologists call the “central foraging place”, like a beehive. Honeybees (readers) get information (blog posts) from other foragers where the flowers (NYT articles) are, so they go there (following links) to get nectar. They then return to the hive (Green Blog) to deposit the nectar (their comments), to tell others where else the flowers are good (e.g., on other sites beyond NYT) and to get new information so they can go for another run, again and again.Now that there is no Environment desk and no Environment editor, the Green Blog should assume those two roles.Now, if only higher ups at the Times get to read this post. If you know them, can you share the link to this post with them?Image: Everystockphoto.com


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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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Have Astronomers Found Chemical Precursor to Life?






LONG BEACH, Calif. — Astronomers have found tentative traces of a precursor chemical to the building blocks of life near a star-forming region about 1,000 light-years from Earth.


The signal from the molecule, hydroxylamine, which is made up of atoms of nitrogen, hydrogen and oxygen, still needs to be verified. But, if confirmed, it would mean scientists had found a chemical that could potentially seed life on other worlds, and may have played a role in life’s origin on our home planet about 3.6 billion years ago.






The findings were presented Jan. 9 at the 221st annual meeting of the American Astronomical Society .


“It’s very exciting,” said Stefanie Milam, an astrochemist at NASA Goddard Space Flight Center in Greenbelt, Md., who was not involved in the study. If the findings can be verified, “this will be the first detection of this new molecule. It gives us a lot of hope for prebiotic chemistry in this particular region.”


Some astronomers think that the ingredients for life are formed in cold, gas-, dust- and plasma-filled interstellar clouds. Comets, asteroids and meteors forming in these clouds bear such chemicals, and as they continually bombard planets, they could have deposited the chemicals on Earth or other worlds, said Anthony Remijan, an astrochemist at the National Radio Astronomy Observatory in Charlottesville, Va., who led the research effort. [7 Theories on the Origin of Life]


So while life may have emerged from hydrothermal vents on Earth — a theory that many scientists support — the molecules that eventually transformed into the earliest life forms had to come from somewhere, and that “somewhere” may have been space.


To test this theory, astronomers look for the chemical fingerprints of simple, inorganic compounds forming in interstellar clouds. These compounds aren’t life or even carbon-based, but they can react with other molecules to form some of the building blocks of life, such as amino acids or the nucleotides that make up DNA. In recent years, scientists have found several different prebiotic molecules in space, said Brett McGuire, doctoral candidate in chemistry and chemical engineering at the California Institute of Technology.


In the hunt for these molecules, Remijan and colleagues scanned a star-forming region of the Milky Way called L1157-B1 using the Combined Array for Research in Millimeter-wave Astronomy (CARMA).


They found a very weak signal of hydroxylamine, which makes sense since, inside L1157-B1, a violent gas jet is slamming into the interstellar medium; the shock from this gas outflow would be sufficient force to trigger these chemical reactions in the otherwise frigid depths of an interstellar cloud. The result: hydroxylamine. In turn, hydroxylamine could react with other compounds, such as acetic acid, to form amino acids that could be dumped onto other worlds during space-rock collisions.


“We have some very preliminary evidence of its detection, a very weak signal that kind of looks like a line,” McGuire told LiveScience.


The signal is extremely faint and doesn’t definitively confirm the presence of hydroxylamine. But the signal does seem to come from the right region, McGuire said. The findings are exciting, but they are not yet a definitive chemical signature of hydroxylamine, Milam told LiveScience. “Every molecule has a fingerprint, and basically what he’s presented is the thumb print. So we need all the other fingers to confirm that this is the actual molecule.”


To confirm the finding, Remijan’s team will keep probing the star-forming region for more signals that could confirm what they’re seeing isn’t coming from some other chemicals, Milam said.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+


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Wall Street falls, pressured by Wells Fargo, banks

NEW YORK (Reuters) - Stocks edged lower on Friday after Wells Fargo & Co , the first major bank to kick off fourth-quarter earnings season for the financial sector, reported a decline in net interest margin despite a record profit in the latest quarter.


Wells Fargo, the fourth-biggest U.S. bank and the nation's largest home lender, said its fourth-quarter net interest margin - a key measure of how much money banks make from loans - fell, even as profit jumped 24 percent. The bank also made fewer mortgage loans than in the third quarter.


"It (Wells Fargo results) is weighing on the sector. We are keeping our fingers crossed that this won't be a sector thing and more confined to Wells Fargo, but it's definitely playing a factor today," said Larry Peruzzi, senior equity trader at Cabrera Capital Markets LLC in Boston.


The bank's shares fell 1.4 percent to $34.92. The S&P 500 financial sector index <.gspf> fell 0.6 percent and the KBW Banks index <.bkx> fell 1 percent. Bank of America Corp , JPMorgan Chase & Co and Citigroup Inc are due to report results next week.


Overall earnings were expected to grow by 1.9 percent in this earnings season, according to Thomson Reuters data.


The Dow Jones industrial average <.dji> was up 6.12 points, or 0.05 percent, at 13,477.34. The Standard & Poor's 500 Index <.spx> was down 2.37 points, or 0.16 percent, at 1,469.75. The Nasdaq Composite Index <.ixic> was down 2.19 points, or 0.07 percent, at 3,119.56.


Also keenly watched Friday were shares of Dow component Boeing , which fell 2.6 percent to $75.11 after a cracked cockpit window and an oil leak on separate flights in Japan compounded safety concerns about its new 787 Dreamliner. The U.S. Department of Transportation said the jet would be subject to a review of its critical systems by regulators.


Best Buy shares rallied after its results showed a bit of a turnaround in its U.S. stores, though same-store sales were flat during the key holiday season. Shares jumped 12 percent to $13.69.


Basic materials shares were pressured after China's annual consumer inflation rate picked up to a seven-month high, narrowing the scope for the central bank to boost the economy by easing monetary policy. The S&P basic materials sector <.gspm> fell 0.6 percent.


Dendreon Corp shares jumped 14.7 percent to $5.85 after Sanford C. Bernstein upgraded the drugmaker's stock to "outperform" from "market-perform" and said it could be one of the best performers in 2013.


(Editing by Bernadette Baum, Nick Zieminski)



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High Schoolers Control Satellites Aboard Space Station






Would you trust a 16-year-old in space? NASA evidently does. Just after the sun rose on the East Coast today (Jan. 11), astronauts aboard the International Space Station ran computer instructions, written by high school students, in bowling ball-size satellites floating inside the ISS cabin. The students’ code told the satellites exactly where to go to complete challenges such as spitting out dust clouds and avoiding obstacles. 


Ceding control of small satellites to students is part of an annual competition called the Zero Robotics SPHERES Challenge, which is hosted by NASA, the U.S. Defense Advanced Research Projects Agency and the Massachusetts Institute of Technology. Today’s run is the Zero Robotics finals. Those interested can watch a live broadcast of the event. Fifteen teams from the United States and Europe are competing to get their satellites to perform tasks related to cleaning up space junk. 






“SPHERES” stands for Synchronized Position Hold, Engage, Reorient, Experimental Satellites. MIT, NASA and DARPA researchers use SPHERES to test spacecraft maneuvers, such as docking and flying in formation. 


This year the students had to program their SPHERES to deploy dust clouds that could remove space junk from orbit, dock with another satellite to harvest its parts, and maneuver through an unknown field full of debris. The SPHERES had to perform all of those tasks autonomously, just as spacecraft would, once an ISS astronaut activated their code.


In the U.S., participating students watched their code at work over a direct transmission from the International Space Station, shown at the MIT campus. The European students watched from the European Space Research and Technology Center in the Netherlands.


This story was provided by TechNewsDaily, a sister site to SPACE.com. Follow TechNewsDaily on Twitter @TechNewsDaily, or on Facebook.


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Wall Street climbs on China data; S&P nears resistance

NEW YORK (Reuters) - Stocks climbed on Thursday on optimism about global growth spurred by stronger-than-expected exports in China, the world's second-biggest economy, though gains in the S&P 500 were capped at a resistance level near a 5-year high.


Financial and energy stocks were the day's top gainers in afternoon trading. The financial sector index <.gspf> rose 0.8 percent and the energy sector <.gspe> was up 0.6 percent.


The benchmark Standard & Poor's 500 index hovered near a five-year closing peak of 1,466.47. On Friday, the index had closed at its highest since December 2007.


"The market is technically right at the level of resistance, near 1,465-1,467," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.


"A solid breakthrough above the level would be the start of a next leg higher, but it looks like it is going to be difficult to break above that level for now," Frederick said, citing concerns about the corporate earnings season and impending negotiations over the U.S. debt ceiling.


By late morning, the S&P 500 had erased almost all its gains from earlier Thursday in minutes. Some traders said the dip was triggered by a trade in the options market that prompted a large amount of S&P futures to hit the market at the same time, sending the S&P 500 index down rapidly.


Data showed China's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown.


The Dow Jones industrial average <.dji> was up 36.20 points, or 0.27 percent, at 13,426.71. The Standard & Poor's 500 Index <.spx> was up 5.11 points, or 0.35 percent, at 1,466.13. The Nasdaq Composite Index <.ixic> was up 0.05 points, or 0.00 percent, at 3,105.86.


In company news, shares of upscale jeweler Tiffany dropped 4.3 percent to $60.53 after it said earnings for the year through January 31 will be at the lower end of its forecast.


U.S.-traded Nokia shares jumped 18 percent to $4.42 after the Finnish handset maker said its fourth-quarter results were better than expected and that the mobile phone business achieved underlying profitability.


Herbalife Ltd stepped up its defense against activist investor Bill Ackman, stressing it was a legitimate company with a mission to improve nutrition and help public health. The stock was down 2.4 percent at $39.15.


U.S. data showed claims for unemployment benefits rose last week, though seasonal volatility made it difficult to get a clear picture of the labor market's health.


Also, U.S. wholesale inventories rose more than expected in November and sales rose by the most in more than 1-1/2 years. The market's reaction to both reports was muted.


(Editing by Bernadette Baum)



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Atmosphere of Venus Has Strange Magnetic ‘Ropes’






Strange, newly discovered structures in Venus’ atmosphere are redrawing scientists’ perceptions of the planet’s magnetic environment.


The European Space Agency’s Venus Express spacecraft spotted these enormous magnetic entities — called flux ropes — stretching for hundreds of miles in the planet’s upper atmosphere, above the poles.






Flux ropes have been seen before around other planets, including Earth. They transport superheated plasma gas from one side of the “rope” to the other. But on Venus, scientists don’t know why these phenomena form in the atmosphere, according to a paper published Dec. 26 in the journal Geophysical Research Letters. How long they exist, and how they dissipate, are also mysteries.


“It is a huge surprise,” study leader Tielong Zhang, who holds dual affiliations at research institutions in China and Austria, wrote in an email to SPACE.com. [Photos of Venus, the Mysterious Planet]


Twisting magnetic lines


Magnetic flux ropes come together from twisted magnetic field lines. They have been spotted in magnetic fields all over the solar system.


On Earth, flux ropes form near the face of the planet opposite the sun. The stream of charged particles known as the solar wind flows around the planet and creates a “magnetotail” of charged particleson the other side.


Periodic solar outbursts known as coronal mass ejections arise from a type of flux rope. The delicate structures sit on top of the sun and transport matter and superheated gas from one part of the sun to another. Researchers believe that when the flux ropes become unstable, that’s when the sun erupts.


Venus stands apart from most other planets in the solar system, however, because it has no magnetic field. Zhang said the ionosphere (or upper atmosphere) of Venus acts as an obstacle to the solar wind.


When Venus’ atmosphere has a higher pressure than the incoming solar wind field, the ionosphere is considered “unmagnetized,” meaning that it’s free of all but the smallest magnetic field structures.


The ionosphere of Venus stays unmagnetized most of the time, until the solar wind reaches a higher pressure than the surrounding atmosphere and magnetizes it. In these conditions, relatively small flux ropes can form due to the higher speed of the solar wind rolling over the slower ionosphere, researchers said. [The 10 Weirdest Facts About Venus]


“The ionosphere is filled with these very small — kilometers across — flux ropes,” Christopher Russell told SPACE.com. Russell is a space physicist at UCLA and a co-investigator on Zhang’s study.


“That might seem large to somebody walking down the street, but in terms of the size of the ionosphere, they are small,” said Russell, who was also the principal investigator of NASA’s Venus Pioneer missionthat first spotted these structures.


Scientists have known about these small flux ropes for a generation, since Pioneer orbited Venus in the late 1970s and early 1980s.


But the giant flux ropes were completely unknown until Venus Express — which was in a different orbit than Pioneer — spotted them with its magnetometer in 2008 and 2009. And they likely are created by a very different process, Russell said.


Frequent flux ropes


Venus Express saw the giant flux ropes in magnetized regions of the Venusian ionosphere over the poles, where that region of the atmosphere of Venus made its closest approaches to the planet. According to the paper, these ropes happen “quite often” and are hundreds of miles long, about as long as the depth of the ionosphere.


Scientists determined that the flux ropes form from solar particles on the side of the planet facing away from the sun, in the magnetotail. As the ropes’ magnetic fields twisted tighter, they passed from the equator region to the poles.


“It seems to be associated with a process known as reconnection, which is magnetic field lines joining up together and forming a new magnetic configuration,” Russell said. On Earth, this is the driving force behind the planet’s spectacular auroras, which also tend to originate in the magnetotail.


As Venus’ flux ropes move over the poles, the local magnetic field they create is stronger than the background, Russell added. To better understand them, the scientists are now working on a statistical survey to figure out how often flux ropes occur in Venus’ ionosphere, and where they are.


Zhang, who is the principal investigator for Venus Express’ magnetometer instrument, noted that giant flux ropes were previously found in the atmosphere of Mars — but only in the southern hemisphere. Mars, like Venus, does not have a planet-wide magnetic field.


“The observation and formation of the large flux rope at Mars might raise speculative questions related to the giant flux ropes at Venus,” Zhang said, but added it was too early to draw direct links.


At least one study, according to Zhang’s paper, has drawn a link between the magnetic rocks found on Mars and the flux ropes found above the Red Planet.


But Mars is a much different environment than Venus, so the giant flux ropes found by Venus Express could arise for another reason, he said.


Zhang works for both the University of Science and Technology of China and the Austrian Academy of Sciences, while the rest of his paper’s research team hails from Austria, the United States, Germany, China and the United Kingdom.


Follow Elizabeth Howell @howellspace, or SPACE.com @Spacedotcom. We’re also on Facebook and Google+.


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Wall Street modestly higher as Alcoa beats revenue estimates

NEW YORK (Reuters) - Stocks edged up on Wednesday after Alcoa got the earnings season under way with better-than-expected revenue and an encouraging outlook for the year.


The market's rise came after two-days of declines, with few catalysts to give direction and investors fretting about the start of earnings season after the prior quarter's lackluster performance.


Alcoa Inc said late on Tuesday it expects global demand for aluminum to grow in 2013, though the company expressed concern about the impact on business from a confrontation in Washington over the U.S. budget. Shares of Alcoa, the largest U.S. aluminum producer, were trading flat in early afternoon at around $9.12, after earlier trading higher.


Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter were expected to grow by 1.9 percent, according to Thomson Reuters data.


But the lowered expectations leave room for companies to surprise investors even if their results are not particularly strong, analysts said.


The current quarter was shaping up like the previous one, with companies lowering expectations in recent weeks, said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.


"So the big question and focus is on revenue, and Alcoa had better-than-expected revenue," calming the market a little, Dailey said.


The Dow Jones industrial average <.dji> was up 56.44 points, or 0.42 percent, at 13,385.29. The Standard & Poor's 500 Index <.spx> was up 3.31 points, or 0.23 percent, at 1,460.46. The Nasdaq Composite Index <.ixic> was up 11.50 points, or 0.37 percent, at 3,103.31.


Shares of Herbalife Ltd rose 3.5 percent to $39.70, following news that hedge fund manager Dan Loeb has taken a stake of more than 8 percent in the nutritional supplements seller, according to a regulatory filing. Herbalife has come under fire from prominent short-seller Bill Ackman, who has accused the company of being a "pyramid scheme," a charge it vehemently denies.


Facebook Inc shares rose above $30 per share for the first time since July, 2012. The social network sent out a media invitation on Tuesday saying, "Come and see what we're building." Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its Menlo Park, California, campus on January 15.


Among other companies reporting earnings, Constellation Brands , whose labels include Robert Mondavi and Ravenswood wines, reported higher profit and raised its forecast. The stock was down 0.8 percent at $35.74.


Apollo Group Inc slid more than 11 percent after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last at $18.63.


(Reporting by Angela Moon; Editing by Kenneth Barry and Dan Grebler)



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NASA to Announce Launch of New Earth-Observing Satellite






NASA plans to announce tomorrow (Jan. 10) the launch of a new satellite, the Landsat Data Continuity Mission (LDCM), to monitor Earth’s landscape and the changes to it.


The new satellite, scheduled to launch Feb. 11, will replace the Landsat 5 satellite, which is to be decommissioned in the coming months, the U.S. Geological Survey reported in December.






The announcement will be made at 1 p.m. EST at NASA headquarters in Washington. You can watch it live here, as well as on NASA Television and the agency’s website.


Landsat 5 is the longest-operating Earth-observing satellite mission in history, according to the USGS. Launched in 1984 with a three-year design life, it has been taking images and recording changes on the Earth’s surface ever since. The satellite almost failed several times, but engineers brought it back to life. However, the recent failure of a gyroscope (which helps satellites maintain their orientation) left no option but to end the mission, the USGS said in its release.


“Any major event since 1984 that left a mark on this Earth larger than a football field was likely recorded by Landsat 5, whether it was a hurricane, a tsunami, a wildfire, deforestation or an oil spill,” USGS Director Marcia McNutt said in the statement. “We look forward to a long and productive continuation of the Landsat program, but it is unlikely there will ever be another satellite that matches the outstanding longevity of Landsat 5.”


The satellite monitored the effects of the devastating floods along the Mississippi River in 2011, snapped an image of the path of a tornado in Massachusetts that same year, and helped the effort to battle raging wildfires in Arizona.


LDCM, like Landsat 5, is a collaboration between NASA and the USGS that will continue the Landsat program’s 40-year data record of monitoring Earth from space. Landsat 5 has orbited the globe more than 150,000 times and recorded over 2.5 million images.


Reach Douglas Main at [email protected]. Follow him on Twitter @Douglas_Main. Follow OurAmazingPlanet on Twitter @OAPlanet. We’re also on Facebook and Google+.


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





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Wall Street declines as earnings clarity awaited

NEW YORK (Reuters) - Stocks declined on Tuesday as the market continued its retreat from last week's rally on the "fiscal cliff" deal in Congress as investors awaited the start of the earnings season with muted expectations.


Profits in the fourth quarter are seen above the previous quarter's lackluster results, but analysts' current estimates are down sharply from where they were in October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data.


The benchmark S&P index has fallen 0.5 percent in the wake of the 4.3 percent jump in the two days surrounding the conclusion of the fiscal cliff debate, and investors have found few catalysts to extend the brief rally.


"We had a brief respite courtesy of what happened on the fiscal cliff deal and the flip of the calendar with new money coming into the market," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


"But now the stark reality of uncertainty with regard to earnings, plus the negotiations on the debt ceiling, are there and that doesn't give investors a lot of reason to take bets on the long side."


In Tuesday's results, Monsanto Co shares rose 2.6 percent to $98.45 after hitting a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal 2013 and posted strong first-quarter results.


Education provider Apollo Group and Dow component Alcoa Inc , the largest U.S. aluminum producer, round out the start of earnings season after the closing bell.


The Dow Jones industrial average <.dji> dropped 73.13 points, or 0.55 percent, to 13,311.16. The Standard & Poor's 500 Index <.spx> lost 6.91 points, or 0.47 percent, to 1,454.98. The Nasdaq Composite Index <.ixic> fell 12.68 points, or 0.41 percent, to 3,086.13.


AT&T Inc , which fell 1.8 percent to $34.30, was among the biggest drags on the S&P 500 after the company said it had sold more than 10 million smartphones in the quarter, topping the same quarter in 2011 but also increasing costs for the wireless service provider.


Providers like AT&T pay hefty subsidies to handset makers so that they can offer device discounts to customers who commit to two-year contracts.


The S&P telecom services index <.gspl>, down 2.4 percent, was the worst performing of the 10 major S&P sectors.


Shares of restaurant-chain operator Yum Brands Inc fell 4.2 percent to $65.04 a day after the KFC parent warned sales in China, its largest market, shrank more than expected in the fourth quarter.


Sears Holdings shares dropped 3.8 percent to $41.31 a day after the company said Chairman Edward Lampert would take over as CEO from Louis D'Ambrosio, who is stepping down due to a family member's health issue. The U.S. retailer also reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.


GameStop shares slumped 6.2 percent to $23.22 as the worst performer on the S&P 500 after the video game retailer reported sales for the holiday season and cut its guidance.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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Why Ford’s New Car Apps Include China’s Twitter






LAS VEGAS — New car apps will allow Ford owners to call up their favorite music playlist or search for last-minute date suggestions by using voice alone. But the voice-activated car apps announced at CES 2013 included one “hidden dragon” surprise aimed at Chinese drivers rather than Americans.


Many Americans won’t recognize the name of Sina Weibo, China‘s version of Twitter, among the latest car app offerings from more familiar names such as USA Today and Amazon. Yet Weibo represents a social media behemoth with 424 million users — more people than the entire U.S. population — sharing 120 million news and message posts every day. Such numbers could add up to a huge opportunity for Ford car sales in China.






Ford announced the collaboration with Sina Weibo near the end of a press event here at CES 2013 on Jan. 7. The upcoming Sina Weibo app represents one of nine newly-announced apps that include the Wall Street Journal, USA Today, Kaliki, Amazon Cloud Player, Aha Radio, Rhapsody, Greater Media, Glympse, and BeCouply.


The Detroit automaker has already enjoyed big sales in China, the world’s largest car market, where car ownership may reach 300 to 500 million before 2030. Ford recorded an annual sales record in China by selling more than 626,000 vehicles to Chinese buyers in 2012.


That number still falls below the 2 million Ford vehicles sold to U.S. customers in 2012. But Ford has already set aggressive goals to double production capacity and its China dealership network by 2015 — and it clearly sees car apps in smarter vehicles as a way to win over even more customers worldwide.


Ford’s car apps could end up making roads in both the U.S. and China a bit safer for drivers who can’t put down their smartphones or tablets. Toward that end, Ford has begun offering a license- and royalty-free program for app developers, but prohibits driving apps from having video-rich imagery, requiring text-reading or offering games to play.


This story was provided by TechNewsDaily, a sister site to LiveScience. You can follow TechNewsDaily Senior Writer Jeremy Hsu on Twitter @jeremyhsu. Follow TechNewsDaily on Twitter @TechNewsDaily. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





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