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

EPA changed course after gas company protested






WEATHERFORD, Texas (AP) — When a man in a Fort Worth suburb reported his family’s drinking water had begun bubbling like champagne, the federal government sounded an alarm: A company may have tainted their wells while drilling for natural gas.


At first, the Environmental Protection Agency believed the situation was so serious that it issued a rare emergency order in late 2010 that said at least two homeowners were in immediate danger from a well saturated with flammable methane. More than a year later, the agency rescinded its mandate and refused to explain why.






Now a confidential report obtained by The Associated Press and interviews with company representatives show that the EPA had scientific evidence against the driller, Range Resources, but changed course after the company threatened not to cooperate with a national study into a common form of drilling called hydraulic fracturing. Regulators set aside an analysis that concluded the drilling could have been to blame for the contamination.


For Steve Lipsky, the EPA decision seemed to ignore the dangers to his family. His water supply contains so much methane that the gas in water flowing from a pipe connected to the well can be ignited.


“I just can’t believe that an agency that knows the truth about something like that, or has evidence like this, wouldn’t use it,” said Lipsky, who fears he will have to abandon his dream home in an upscale neighborhood of Weatherford.


The case isn’t the first in which the EPA initially linked a hydraulic fracturing operation to water contamination and then softened its position after the industry protested.


A similar dispute unfolded in west-central Wyoming in late 2011, when the EPA released an initial report that showed hydraulic fracturing could have contaminated groundwater. After industry and GOP leaders went on the attack, the agency said it had decided to do more testing. It has yet to announce a final conclusion.


Hydraulic fracturing — often called “fracking” — allows drillers to tap into oil and gas reserves that were once considered out of reach because they were locked in deep layers of rock.


The method has contributed to a surge in natural gas drilling nationwide, but environmental activists and some scientists believe it can contaminate groundwater. The industry insists the practice is safe.


Range Resources, a leading independent player in the natural gas boom, has hundreds of gas wells throughout Texas, Pennsylvania and other mineral-rich areas of the United States. Among them is a production site — now owned by Legend Natural Gas — in a wooded area about a mile from Lipsky’s home in Weatherford, about a half-hour drive west of Fort Worth.


State agencies usually regulate water and air pollution, so the EPA’s involvement in the Texas matter was unusual from the start. The EPA began investigating complaints about the methane in December 2010, because it said the Texas Railroad Commission, which oversees oil and gas drilling, had not responded quickly enough to the reports of bubbling water.


Government scientists believed two families, including the Lipskys, were in danger from methane and cancer-causing benzene and ordered Range Resources to take steps to clean their water wells and provide affected homeowners with safe water. The company stopped doing that after state regulators declared in March 2011 that Range Resources was not responsible. The dispute between the EPA and the company then moved into federal court.


Believing the case was headed for a lengthy legal battle, the EPA asked an independent scientist named Geoffrey Thyne to analyze water samples taken from 32 water wells. In the report obtained by the AP, Thyne concluded from chemical testing that the gas in the drinking water could have originated from Range Resources’ nearby drilling operation.


Meanwhile, the EPA was seeking industry leaders to participate in a national study into hydraulic fracturing. Range Resources told EPA officials in Washington that so long as the agency continued to pursue a “scientifically baseless” action against the company in Weatherford, it would not take part in the study and would not allow government scientists onto its drilling sites, said company attorney David Poole.


In March 2012, the EPA retracted its emergency order, halted the court battle and set aside Thyne’s report showing that the gas in Lipsky’s water was nearly identical to the gases the Plano, Texas-based company was producing.


“They said that they would look into it, which I believe is exactly what they did,” Poole said. “I’m proud of them. As an American, I think that’s exactly what they should have done.”


The EPA offered no public explanation for its change in thinking, and Lipsky said he and his family learned about it from a reporter. The agency refused to answer questions about the decision, instead issuing a statement by email that said resolving the Range Resources matter allowed the EPA to shift its “focus in this case away from litigation and toward a joint effort on the science and safety of energy extraction.”


After the agency dropped its action, the company offered scientists access to a site in southwestern Pennsylvania. The EPA has not yet accepted the offer.


Rob Jackson, chairman of global environmental change at Duke University’s Nicholas School of the Environment, reviewed Thyne’s report and the raw data upon which it was based. He agreed the gas in Lipsky’s well could have originated in a rock formation known as the Barnett shale, the same area where Range Resources was extracting gas.


Jackson said it was “premature” to withdraw the order and said the EPA “dropped the ball in dropping their investigation.”


Lipsky, who is still tied up in a legal battle with Range Resources, now pays about $ 1,000 a month to haul water to his home. He, his wife and three children become unnerved when their methane detectors go off. Sometime soon, he said, the family will have to decide whether to stay in the large stone house or move.


“This has been total hell,” Lipsky said. “It’s been taking a huge toll on my family and on our life.”


The confidential report relied on a type of testing known as isotopic analysis, which produces a unique chemical fingerprint that sometimes allows researchers to trace the origin of gas or oil.


Jackson, who studies hydraulic fracturing and specializes in isotopic analysis, acknowledged that more data is needed to determine for certain where the gas came from. But even if the gas came from elsewhere, Range Resources’ drilling could have contributed to the problem in Lipsky’s water because gas migrates, he added.


The company insists the gas in Lipsky’s water is from natural migration and not drilling. Range Resources’ testing indicates that its gas well was working properly and that the gas came from a different rock formation called Strawn shale and not the deeper Barnett shale, Poole said.


In addition, he said, isotopic analysis cannot be used in this case because the chemical makeup of the gases in the two formations is indistinguishable. A Range Resources spokesman also dismissed Thyne and Jackson as anti-industry.


Range Resources has not shared its data with the EPA or the Railroad Commission. Poole said the data is proprietary and could only be seen by Houston-based Weatherford Laboratories, where it originated. It was analyzed for Range Resources by a Weatherford scientist, Mark McCaffrey, who did not respond to requests for an interview.


Gas has always been in the water in that area, Poole said. And years before Range Resources began drilling, at least one water well in the neighborhood contained so much methane, it went up in flames.


At another home with dangerously high methane levels in the water, the company insisted the gas had been there since the well was first dug many years ago. The homeowner was not aware of anything wrong until Range Resources began drilling in 2009.


Jackson said it was “unrealistic” to suggest that people could have tainted water and not notice.


“It bubbles like champagne or mineral waters,” he said. “The notion that people would have wells and have this in their water and not see this is wrong.”


___


Associated Press writers Nomaan Merchant in Dallas, Allen Breed in Raleigh, N.C., and Michael Rubinkam in Allentown, Pa., contributed to this report.


___


Plushnick-Masti can be followed on Twitter at https://twitter.com/RamitMastiAP


Energy News Headlines – Yahoo! News





Title Post: EPA changed course after gas company protested
Url Post: http://www.news.fluser.com/epa-changed-course-after-gas-company-protested/
Link To Post : EPA changed course after gas company protested
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..

Dow, S&P 500 inch up with retailers but Apple drags again

NEW YORK (Reuters) - The Dow and S&P 500 edged higher on Tuesday after stronger-than-expected retail data, though tech heavyweight Apple dragged on the market for a third day.


Apple was the biggest weight on both the S&P 500 and Nasdaq 100 <.ndx> after reports on Monday of cuts to orders for iPhone parts. Shares declined 3.2 percent to $485.92 and closed below $500 for the first time since February.


Retail stocks advanced after a government report showing retail sales rose more than expected in December was seen as a favorable sign for fourth-quarter growth. A separate report showed manufacturing activity in New York state contracted for the sixth month in a row in January.


"A little better-than-expected news on retail sales once again reinforces that the consumer remains alive and reasonably well," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, which manages about $54 billion in assets.


Among retailers, American Eagle Outfitters Inc gained 4.8 percent to $20.58 and Gap Inc rose 3.4 percent to $32.46. The Morgan Stanley retail index <.mvr> advanced 1.5 percent.


Express Inc surged 23.8 percent to $17.40 after the apparel retailer raised its fourth-quarter and full year 2012 outlook.


The Dow Jones industrial average <.dji> was up 27.57 points, or 0.20 percent, at 13,534.89. The Standard & Poor's 500 Index <.spx> was up 1.66 points, or 0.11 percent, at 1,472.34. The Nasdaq Composite Index <.ixic> was down 6.72 points, or 0.22 percent, at 3,110.78.


Apple's stock has lost about 7 percent in the last three sessions and is down 8.7 percent since the start of the year.


"It's tough to discern exactly what's putting the pressure on it. But at the end of the day, its influence, considering it's still 3 1/2 to 4 percent of the S&P 500 index, is being felt," Luschini said.


"I attribute (it) to just some of the bloom coming off of the rose. They haven't necessarily done anything wrong, as much as others have caught up."


Also keeping investors on edge is 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 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.


An expected lackluster earnings season, too, 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 declined 0.8 percent to $40.68 on worries that growth in orders was slowing.


Dell Inc shares added to Monday's gains, ending up 7.2 percent to $13.17 after sources said talks to take the computer maker private are in an advanced stage.


On the down side, shares of Facebook dropped 2.7 percent to $30.10. 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.


Volume was roughly 5.8 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.


Advancers outpaced decliners on the NYSE by about 17 to 12 and on the Nasdaq by about 13 to 11.


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



Read More..

Snow Possible for Atlanta Area Thursday






There may not be a lot of snow expected, but the National Weather Service is at least alerting Georgia residents to the possibility. And it’s been since 2011 that snow of any accumulation has hit the Atlanta area. Last winter was extremely mild, and the whole 2012 year saw a record low in days that registered less than 32 degrees, according to the National Weather Service.


As it’s tracking now, the winter weather would hit the area around the evening commute on Thursday, January 17, according to Keith Stellman, meteorologist in charge at the National Weather Service office in Peachtree City. But he cautions that there is still a lot of uncertainty. So no need to stock up on bread and milk just yet.






The forecast says snow could be seen as far south as La Grange or Athens, but adds that the greatest chance for accumulation is the I-20 corridor west of Atlanta and the I-85 corridor to the north.


The storm system is the same that’s causing all the rain and snow in Mississippi and Louisiana, said Stellman. “It could kick out our way Thursday,” he said. “It’s bringing a lot of cold air, and it should have just enough moisture.”


But he added, “We’re not expecting a lot of accumulation.”


The Weather Service alert said there are no expected travel difficulties, but cautioned those in the higher elevations to still be careful and motorists to watch for black ice and slick overpasses Thursday night to Friday morning, when temperatures should be below freezing.


Mike Benzie has been a reporter and editor for several major news organizations in the Southeast, including the Atlanta Journal-Constitution, the Greenville News, and the Asheville Citizen-Times.


Weather News Headlines – Yahoo! News





Title Post: Snow Possible for Atlanta Area Thursday
Url Post: http://www.news.fluser.com/snow-possible-for-atlanta-area-thursday/
Link To Post : Snow Possible for Atlanta Area Thursday
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..

Apple drags on S&P, Nasdaq; Dell jumps after report

NEW YORK (Reuters) - The S&P 500 and Nasdaq ended lower on Monday as worries over demand for Apple products drove down its shares and investors braced for earnings disappointments.


Running counter to that was Dell Inc's stock which jumped 13 percent to about a five-month high at $12.29 after Bloomberg reported the No. 3 personal computer maker is in talks with private equity firms to go private. Dell's gains offset some tech-sector weakness.


Tech heavyweight Apple lost 3.6 percent to $501.75 and was the biggest weight on both the S&P 500 and Nasdaq 100 <.ndx> indexes after reports the company has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock hit a session low of $498.51, the first dip below $500 since February 16.


"With Apple, it seems as if the sentiment has shifted from this being the one stock that everybody wanted to own to people beginning to look at it as a company (whose) business is slowing down somewhat," said Eric Kuby, chief investment officer of North Star Investment Management Corp in Chicago.


Adding to investor unease, fourth-quarter earnings kick into high gear this week. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.9 percent from a year ago, Thomson Reuters data showed.


The Dow Jones industrial average <.dji> was up 18.89 points, or 0.14 percent, at 13,507.32. The Standard & Poor's 500 Index <.spx> was down 1.37 points, or 0.09 percent, at 1,470.68. The Nasdaq Composite Index <.ixic> was down 8.13 points, or 0.26 percent, at 3,117.50.


Apple suppliers also lost ground, with Cirrus Logic off 9.4 percent at $28.62 and Qualcomm down 1 percent at $64.24.


The Dow fared better than the other two indexes, helped in part by Hewlett-Packard shares, which rose 4.9 percent to $16.95. The stock, up early in the session after JPMorgan upgraded its rating on the shares and raised its price target to $21 from $15, added to gains following the Dell report.


Tech has "become the arena for private equity or other capital-restructuring type of maneuvers because of the way their valuations and their balance sheets are," Kuby said.


Appliance and electronics retailer Hhgregg Inc slumped 5.7 percent to $7.44 after the company cut its same-store sales forecast for the full year.


Earnings reports are due this week from Goldman Sachs , Bank of America , Intel and General Electric , among other companies. Third-quarter reports ended with a gain of just 0.1 percent, the worst for an S&P 500 profit period in three years, 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 could mean a government shutdown and trigger economic chaos.


S&P futures had little reaction to comments after the bell by Federal Reserve Chairman Ben Bernanke, who urged lawmakers to lift the country's borrowing limit to avoid a debt default.


Volume was roughly 5.6 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 were about even with advancers on the NYSE while decliners outpaced advancers on the Nasdaq by about 12 to 11.


(Additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry, Nick Zieminski and Andrew Hay)



Read More..

NH gas prices stay stable in past week






CONCORD, N.H. (AP) — Gas prices have stayed the same in New Hampshire over the past week.


The average retail price for a gallon of gas averaged $ 3.40 on Sunday.






The national average has fallen slightly, to $ 3.26 a gallon.


The website Gasbuddy.com says prices in New Hampshire were 3.5 cents per gallon higher than the same day a year ago, and 4.3 cents per gallon higher than a month ago.


The national average is 8.7 cents per gallon lower than a year ago, and 1.4 cents per gallon lower than a month ago.


Energy News Headlines – Yahoo! News





Title Post: NH gas prices stay stable in past week
Url Post: http://www.news.fluser.com/nh-gas-prices-stay-stable-in-past-week/
Link To Post : NH gas prices stay stable in past week
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..

Yen pressured, Asian stocks subdued


SYDNEY (Reuters) - The yen plumbed a 2-1/2 year low against the dollar on Monday as Japan's central bank faced relentless political pressure to deliver bold stimulus, while Asian stocks got off to subdued start with Tokyo closed for a public holiday.


Prime Minister Shinzo Abe on Sunday said the Bank of Japan (BOJ) must set a 2 percent inflation target and make it a medium-term, not long-term, goal to show markets it was determined to pursue bold monetary easing to end nearly two decades of deflation.


His comments emboldened yen-bears, who took a fresh swipe at the currency. That saw the U.S. dollar hit a high of 89.67 yen, a level not seen since mid-2010, while the euro climbed as far as 119.84 yen, scaling a 20-month peak.


MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early dealings, but not far from a 17-month peak set on Friday. The index has gained more than 2 percent so far this year on growing optimism about the health of the global economy.


Australian's benchmark S&P/ASX 200 index rose 0.3 percent, while South Korea's KOSPI slipped 0.2 percent, partly weighed by lingering concerns about corporate earnings and a firming local currency.


Analysts at HSBC believe global developments this week will support demand for riskier assets, with U.S. and Chinese data likely to show further momentum in the world's two biggest economies.


"In addition, the Fed speaker calendar is dominated by doves in the early part of the week. These should provide reassurance that the Fed is in no rush to turn off the liquidity tap despite these early signs of encouragement on activity," they said in a client note.


Federal Reserve Chairman Ben Bernanke is due to speak later on Monday at the University of Michigan and investors are eagerly waiting for clues on how long the Fed's latest bond purchase program will last.


Any signs that the Fed is in no hurry to end its quantitative easing program could see the U.S. dollar soften against higher-yielding currencies such as the Australian dollar and those of faster growing emerging economies.


The Aussie dollar traded at $1.0531, still remaining within easy reach of a four-month high of $1.0599 set last week.


Against the euro, the greenback dipped to a fresh nine-month low. The single currency rose 0.1 percent to $1.3357, continuing to outperform after European Central Bank chief Mario Draghi last week gave no indication the bank would ease monetary policy any further.


Optimism about the global economy also helped stem a slide in oil prices. U.S. crude rose 29 cents to $93.85 a barrel, recovering from Friday's 26-cent fall, while Brent crude was little changed at $110.62 a barrel.



Read More..

Politicians slam “extremely generous” wind power cable scheme






LONDON (Reuters) – A new system devised to attract investors to spending money on connecting Britain‘s offshore wind farms is too generous and does not offer a good deal for consumers, a parliamentary committee said on Monday.


The government wants a huge fleet of offshore wind farms to produce between 8 percent and 15 percent of Britain’s electricity by 2020 to reduce carbon emissions.






All wind farms built at sea need to be connected to the onshore grid by expensive subsea cables.


To ensure that the transmission cables are built, energy regulator Ofgem and the government’s Department of Energy and Climate Change have put in place a licence tender system whereby investors receive returns of 10-11 percent.


The Committee of Public Accounts, however, was critical of the system and described it as “extremely generous”.


“Not only is it unlikely that this new licensing system for bringing electricity from offshore wind farms onto the national grid will deliver any savings for consumers, it could well lead to higher prices,” committee chairwoman Margaret Hodge said.


Licencees will receive a total of about 17 billion pounds through the system, a cost that will eventually be passed on to consumers through electricity bills.


The committee interviewed representatives from the government, the regulator and the electricity industry to assess the new regime.


“We have not seen convincing evidence to show that there will be savings for consumers from this scheme compared with potential alternatives,” the committee said.


The politicians recommended that the regulator should consider imposing a system linked to retail prices and to request that investors disclose actual returns they make from operating the cables.


The committee said that the government and regulator should also analyse whether 20 years of guaranteed income is beneficial or whether shorter licence periods are necessary.


It was also concerned about competition in the offshore wind transmission market because four out of six licences that have already been issued were won by one company, Transmission Capital Partners.


“The department and the authority (regulator) must also ensure that the offshore electricity transmission market remains competitive and does not become an oligopoly,” the committee said.


(Reporting by Karolin Schaps; Editing by David Goodman)


Energy News Headlines – Yahoo! News





Title Post: Politicians slam “extremely generous” wind power cable scheme
Url Post: http://www.news.fluser.com/politicians-slam-extremely-generous-wind-power-cable-scheme/
Link To Post : Politicians slam “extremely generous” wind power cable scheme
Rating:
100%

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




Read More..

Wall Street Week Ahead: 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)



Read More..

‘Nice Weather’ A Subjective Term Across Nation







By Hadas Kuznits


PHILADELPHIA (CBS) – With January temperatures in the mid 50′s here in Philadelphia, many are enjoying the outdoors, but “nice weather” is a very subjective term.






When temperatures hit the mid-50′s in January here in the Philadelphia area, many consider it a treat.


“I think it’s beautiful! We’re loving it, it’s a great day to be down here in Philadelphia,” said one person enjoying the day.



“Oh, I’m going out for a bike ride, now!” said another.


Reporter: “I notice you don’t have a coat.”


Bike Rider: “Yeah no coat. I love it!”


Meanwhile, folks in the Los Angeles area are experiencing the exact same weather this weekend.


It seems some people just can’t appreciate what they have.


“Super cold,” “Bone chilling,” “It’s freezing” and “It’s kind of unbearable,” say some Los Angeles residents.




Weather News Headlines – Yahoo! News





Title Post: ‘Nice Weather’ A Subjective Term Across Nation
Url Post: http://www.news.fluser.com/nice-weather-a-subjective-term-across-nation/
Link To Post : ‘Nice Weather’ A Subjective Term Across Nation
Rating:
100%

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




Read More..

Wall Street Week Ahead: 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)



Read More..

Kodak patent sale plan gets bankruptcy court approval






NEW YORK (Reuters) – Eastman Kodak Co’s proposed $ 525 million sale of its digital imaging patents to Intellectual Ventures and RPX Corp got a bankruptcy judge’s approval on Friday, bringing the photography innovator a step closer to exiting Chapter 11.


The price is a fraction of the more than $ 2 billion which Kodak had hoped to fetch for the patents when it filed for bankruptcy in January 2012. However, it allows the company to proceed with a plan to secure $ 830 million in financing and exit bankruptcy in the first half of this year.






Judge Allan Gropper gave his green light at a hearing in U.S. Bankruptcy Court in Manhattan.


“We’re disappointed in the price, but we’re moving the case forward,” Gropper said.


Intellectual Ventures and RPX lead a consortium of some of the world’s biggest technology companies, including Adobe Systems Inc, Amazon.com Inc, Apple Inc and Fujifilm Holdings Corp.


The deal, announced in December, allows for the licensing of patents, settlement of patent-related legal claims, and the assumption of a cross-licensing agreement between Kodak and Fuji. Kodak said it was pleased with the court’s approval.


“The monetization of non-core IP assets achieves one of Kodak’s key restructuring objectives while positioning its commercial imaging business for further growth and success,” the company said in a statement.


Kodak’s patents hit the market as intellectual property values soared and technology companies began plowing money into patent-related litigation.


For example, Nortel Networks Corp in 2011 sold 6,000 wireless patents in a bankruptcy auction for $ 4.5 billion, and Google Inc spent $ 12.5 billion last year for patent-rich Motorola Mobility.


But Kodak’s patent auction dragged on beyond the initial expectation that it would be wrapped up in August and never generated nearly as high a price.


Kodak, which traces its roots to the 19th century, invented the handheld camera but was unable to shift successfully into digital imaging. It will likely be a different company when it exits bankruptcy, leaving the consumer business and focusing instead on providing products and services to the commercial imaging market.


The Kodak bankruptcy case is In Re: Eastman Kodak Co. et al, U.S. Bankruptcy Court, Southern District of New York, No. 12-10202.


(Reporting by Nick Brown; editing by Lisa Von Ahn and G Crosse)


Green News Headlines – Yahoo! News





Title Post: Kodak patent sale plan gets bankruptcy court approval
Url Post: http://www.news.fluser.com/kodak-patent-sale-plan-gets-bankruptcy-court-approval/
Link To Post : Kodak patent sale plan gets bankruptcy court approval
Rating:
100%

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




Read More..

Wall Street climbs as China data puts S&P back at five-year high

NEW YORK (Reuters) - Stocks rose on Thursday and the S&P 500 ended at a fresh five-year high as stronger-than-expected exports from China spurred optimism about global growth prospects.


Buying accelerated late in the day after the S&P 500 broke through technical resistance at 1,466.47, which was the market's closing level last Friday and the highest level since December 2007.


"Historically, January is a positive month for the market and you're seeing that play out," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.


Financial and energy stocks were the day's top gainers. The financial sector index <.gspf> rose 1.4 percent and the energy sector <.gspe> was up 1 percent.


Analysts cited economic data out of China as the day's catalyst, which showed the country's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown.


"It is being interpreted positively that they've stopped the downturn (in growth)," said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia.


"If they continue to produce good growth, that's going to be supportive of our global manufacturers."


Wall Street's fear gauge, the CBOE Volatility Index <.vix> suggested markets were relatively calm. The VIX was down 2.3 percent at 13.49.


At Thursday's close, the S&P sits about 6 percent below its all-time closing high of 1,565.15, hit in October 2007.


The Dow Jones industrial average <.dji> gained 80.71 points, or 0.60 percent, to 13,471.22. The Standard & Poor's 500 Index <.spx> rose 11.10 points, or 0.76 percent, to 1,472.12. The Nasdaq Composite Index <.ixic> added 15.95 points, or 0.51 percent, to 3,121.76.


Thursday's session had earlier included a dip that traders said 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. That sent the S&P 500 index down rapidly but those losses were reversed through the afternoon.


Financials benefited from events this week that added clarity to mortgage rules and banks' potential exposure to the housing market.


The U.S. government's consumer finance watchdog announced mortgage rules on Thursday that will force banks to use new criteria to determine whether a borrower can repay a home loan.


Earlier this week, several big mortgage lenders reached a deal with regulators to end a review of foreclosures mandated by the government.


"It's a resolution. It's not hanging over their heads," said Brunner.


Bank of America gained 3.1 percent to $11.78, while Morgan Stanley was up 3.7 percent at $20.34, one day after sources said the bank plans to cut jobs.


Shares of upscale jeweler Tiffany dropped 4.5 percent to $60.40 after it said sales were flat during the holidays.


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 ended down 1.8 percent at $39.24 after a volatile day.


After the closing bell, American Express said it would cut about 5,400 jobs, and take about $600 million in after-tax charges in the fourth quarter. The stock added 0.7 percent to $61.20 in after-hours trade.


Volume was above the 2012 average of 6.42 billion shares traded a day, with roughly 6.77 billion shares changing hands on the New York Stock Exchange, the Nasdaq and the NYSE MKT.


Advancers outnumbered decliners on the NYSE by 1,916 to 1,039, while advancers also outpaced decliners on the Nasdaq by 1,439 to 1,036.


(Editing by Nick Zieminski)



Read More..

Whew! Huge Asteroid Apophis Won’t Hit Earth in 2036






The Earth is safe from the giant asteroid Apophis when it flies extremely close to our planet in 2029, then returns for seconds in 2036, NASA scientists announced today (Jan. 10). The chances of an impact in 2036 are less than one in a million, they added.


Asteroid Apophis — which is the size of three and a half football fields — was discovered in June 2004 and gained infamy after a preliminary study suggested it had a 2.7 percent chance of hitting the Earth during its 2029 flyby. Subsequent observations ruled out an impact in 2029, but astronomers were closely studying Apophis’ return in 2036.






Now, new observations of asteroid Apophis recorded Wednesday (Jan.9) have revealed the space rock poses no real threat to the Earth in 2036, NASA officials said. Astronomers tracked the asteroid as Apophis made a distant flyby of Earth at a range of about 9.3 million miles (15 million kilometers).


“The impact odds as they stand now are less than one in a million, which makes us comfortable saying we can effectively rule out an Earth impact in 2036,” Don Yeomans, manager of NASA’s Near-Earth Object Program Office, said in a statement. The office is based at the agency’s Jet Propulsion Laboratory in Pasadena, Calif. [See Photos of Giant Asteroid Apophis]


 ”Our interest in asteroid Apophis will essentially be for its scientific interest for the foreseeable future,” Yeomans said.


And that scientific interest will be high.


When Apophis buzzes the Earth on April 13, 2029, it will come within 19,400 miles (31,300 km) of our planet. That’s closer than some geostationary satellites, which orbit the Earth at a range of 22,370 miles (36,000 km), and will be the closest flyby of an asteroid the size of Apophis in recorded history, NASA officials said.


“But much sooner, a closer approach by a lesser-known asteroid is going to occur in the middle of next month when a 40-meter-sized asteroid, 2012 DA14, flies safely past Earth’s surface at about 17,200 miles,” said Yeomans. “With new telescopes coming online, the upgrade of existing telescopes and the continued refinement of our orbital determination process, there’s never a dull moment working on near-Earth objects.” 


Also on Wednesday, the European Space Agency announced that new observations of Apophis by the infrared Herschel Space Observatory revealed that the asteroid is about 1,066 feet (325 meters) wide, nearly 20 percent larger than a previous estimate of 885 feet (270 m). It is also 75 percent more massive than previous estimates, ESA officials said.


The new observations of asteroid Apophis this week were made by astronomers at the Magdalena Ridge observatory, operated by the New Mexico Institute of Mining and Technology, and the University of Hawaii’s Pan-STARRS telescope. The observations were combined with data from NASA’s Goldstone Solar System Radar to rule out any chance of a 2036 impact.


NASA astronomers regularly use telescopes on Earth and in space to search for any asteroids that may pose an impact threat to Earth.


You can follow SPACE.com Managing Editor Tariq Malik on Twitter @tariqjmalik.  Follow SPACE.com on Twitter @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.
Space and Astronomy News Headlines – Yahoo! News





Title Post: Whew! Huge Asteroid Apophis Won’t Hit Earth in 2036
Url Post: http://www.news.fluser.com/whew-huge-asteroid-apophis-wont-hit-earth-in-2036/
Link To Post : Whew! Huge Asteroid Apophis Won’t Hit Earth in 2036
Rating:
100%

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




Read More..

Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.


Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.


Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.


Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.


Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.


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


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


The Dow Jones industrial average <.dji> gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index <.spx> rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index <.ixic> gained 14.00 points, or 0.45 percent, to 3,105.81.


Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.


Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.


Apollo Group Inc slid after heavier early losses, a day 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 off 7.8 percent at $19.32.


Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.


Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.


(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)



Read More..

Hundreds Help Find Missing Boy in Cold






A frantic search for a missing six-year-old boy in Seneca, Mo. ended in relief when deputies discovered the boy huddled under a bush with his two dogs for warmth.


As temperatures plunged into the low 20s, Ryle Smith was discovered about a mile from the family house with Baxter, a large Boxer, and Bella, a Labrador mix lying on top of the boy keeping him warm.






“He was wearing no socks or shoes,” Ryle’s mother Holly told ABC News. “His feet were so cold that it was the early stages of frostbite, he hadn’t eaten dinner, he was exhausted and hungry.”


Ms. Smith said that according to paramedics, the dogs were lying on top of the boy; they could tell because his upper extremities were warm.


Ryle disappeared at about 4:30 Tuesday afternoon, following his puppy Bella away from the family property while playing outside. His parents called 911. Between 150 and 200 people responded to the alert to assist with the search.


“Complete strangers drove from surrounding cities and showed up at our doorstop,” said Holly Smith. “It was incredible. Most people have told me they have never seen a response like that.”


“We were real concerned about the weather,” Newtown County Sheriff Ken Copeland told ABC News. “It was calling for sleet and snow later that night so we were really concerned.”


Copeland said responders from the Newtown County Sheriff’s Office as well as the Joplin, Seneca and Redings Mill fire departments, and the Newtown County Rescue and Recovery team, joined in the search, in addition to concerned local citizens.


“Here in Joplin we went through the terrible tornado,” said Copeland. “To see all these agencies and the community come together… it went really well.”


Also Read
Animal and Pets News Headlines – Yahoo! News





Title Post: Hundreds Help Find Missing Boy in Cold
Url Post: http://www.news.fluser.com/hundreds-help-find-missing-boy-in-cold/
Link To Post : Hundreds Help Find Missing Boy in Cold
Rating:
100%

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




Read More..

Wall Street slips as earnings season gets under way

NEW YORK (Reuters) - Stocks fell on Tuesday, retreating from last week's rally on the "fiscal cliff" deal in Washington, as companies started to report results for the fourth quarter.


After a 4.3 percent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts to extend the rally that took the benchmark to five-year highs.


"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.


Shares of AT&T Inc dropped 1.7 percent to $34.35, making it one of the biggest drags on the S&P 500, after the company said it sold more than 10 million smartphones in the quarter.


This figure beat the same quarter in 2011, but also means increased costs for the wireless service provider. Providers like AT&T pay hefty subsidies to handset makers so that they can offer discounts to customers who commit to two-year contracts.


Fourth-quarter profits are expected to beat the previous quarter's lackluster results, but analyst estimates are down sharply from October. Quarterly earnings are expected to grow by 2.7 percent, according to Thomson Reuters data. Dow component Alcoa, the largest U.S. aluminum producer, reported results after the closing bell.


The Dow Jones industrial average <.dji> dropped 55.44 points, or 0.41 percent, to 13,328.85. The Standard & Poor's 500 Index <.spx> fell 4.74 points, or 0.32 percent, to 1,457.15. The Nasdaq Composite Index <.ixic> lost 7.01 points, or 0.23 percent, to 3,091.81.


"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," Hellwig said.


With AT&T's fall, the S&P telecom services index <.gspl> was the worst performer of the 10 major S&P sectors, down 2.7 percent.


Sears Holdings shares dropped 6.4 percent to $40.16 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.


Markets went lower as some of the first reported earnings were weak.


"It doesn't seem to be bouncing back, it might stay here or sell off a little further," said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.


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.


GameStop was one of the worst performers on the S&P 500 as shares slumped 6.3 percent to $23.19 after the video game retailer reported low customer traffic for the holiday season and cut its guidance.


Shares of Monsanto Co gained 2.5 percent to $98.42 after reaching a more than four-year high at $99.99. The world's largest seed company raised its earnings outlook for fiscal year 2013 and posted strong first-quarter results.


Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.19 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.


Declining stocks outnumbered advancing ones on the NYSE by 1,495 to 1,458, while on the Nasdaq decliners beat advancers 1,305 to 1,158.


(Reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)



Read More..

At 55.3 Degrees, 2012 Was the Hottest Year in American History






Well if you didn’t believe in climate change before, meteorologists are now saying 2012 saw the highest temperatures ever recorded in the U.S. mainland, displacing a record set 14 years ago. Data collected by the National Oceanic and Atmospheric Administration from 114 weather stations established an average temperature of 55.3 degrees Fahrenheit, a whole degree higher than the previous record in 1998. The NOAA summed up our sweltering, sweaty condition:



The year consisted of the fourth warmest winter, a record warm spring, the second warmest summer, and a warmer-than-average autumn. Although the last four months of 2012 did not bring the same unusual warmth as the first 8 months of the year, the September through December temperatures were warm enough for 2012 to remain the record warmest year, by a wide margin.







The Weather Channel dug into the data and found another impressive number: the 114 weather stations administered by the NOAA recorded 34,008 daily record high temperatures (out of 41,724 daily records total). By comparison, the NOAA recorded just 6,664 record daily lows from the same stations.


RELATED: This Spring Was the Hottest Ever


In other words: global warming is real.


Weather News Headlines – Yahoo! News





Title Post: At 55.3 Degrees, 2012 Was the Hottest Year in American History
Url Post: http://www.news.fluser.com/at-55-3-degrees-2012-was-the-hottest-year-in-american-history/
Link To Post : At 55.3 Degrees, 2012 Was the Hottest Year in American History
Rating:
100%

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




Read More..

Wall Street edges off five-year high, awaits earnings

NEW YORK (Reuters) - Stocks lost ground on Monday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits.


Shares of financial companies dipped after a group of major U.S. banks agreed to pay a total of $8.5 billion to end a government inquiry into faulty mortgage foreclosures. The KBW bank index <.bkx>, a gauge of U.S. bank stocks, was down 0.3 percent.


Other sectors were hit as well, most notably energy and utilities. The S&P 500 energy sector index <.gspe> fell 0.8 percent and the utilities sector <.gspu> was off 1.1 percent.


The day's decline came a session after the S&P 500 finished at a five-year high, boosted by a budget deal and strong economic data. The S&P 500 rose 4.6 percent last week, the best weekly gain in more than a year.


"It's a little bit of taking some risk off the table ahead of profit season, you're not going to see anything all that great" on earnings, said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.


Earnings are expected to be only slightly better than the third-quarter's lackluster results, and analysts' current estimates are down sharply from where they were in October. Fourth-quarter earnings growth is expected to come in at 2.8 percent, according to Thomson Reuters data.


Aluminum company Alcoa Inc begins the reporting season by announcing its results after Tuesday's market close. Alcoa shares fell 1.7 percent at $9.10.


The Dow Jones industrial average <.dji> dropped 50.92 points, or 0.38 percent, to 13,384.29. The Standard & Poor's 500 Index <.spx> fell 4.58 points, or 0.31 percent, to 1,461.89. The Nasdaq Composite Index <.ixic> lost 2.84 points, or 0.09 percent, to 3,098.81.


Ten mortgage servicers - including Bank of America , Citigroup , JPMorgan , and Wells Fargo - agreed on Monday to pay $8.5 billion to end a case-by-case review of foreclosures required by U.S. regulators.


In a separate case, Bank of America also announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans.


The bank also entered into agreements with Nationstar Mortgage Holdings and Walter Investment Management to sell about $306 billion of residential mortgage servicing rights.


Bank of America shares lost 0.2 percent at $12.09 while Nationstar Mortgage Holdings jumped 16.8 percent to $38.83.


Citigroup shares were up 0.09 percent to $42.47, and Wells Fargo shares fell 0.5 percent to $34.77.


"The financials probably have the wind behind them now with a lot of the regulations coming out ... the market has to absorb a lot of the gains, and for that reason there's a pullback from this level," said Warren West, principal at Greentree Brokerage Services in Philadelphia.


Shares of U.S. jet maker Boeing Co dropped 2 percent after a Boeing 787 Dreamliner aircraft with no passengers on board caught fire at Boston's Logan International Airport on Monday morning.


Amazon.com shares hit their highest price ever at $269.22 after Morgan Stanley raised is rating on the stock. Shares were up 3.6 percent at $268.46.


Video-streaming service Netflix Inc shares gained 3.4 percent to $99.20 after it said it will carry previous seasons of some popular shows produced by Time Warner's Warner Bros Television.


Walt Disney Co stock fell 2.3 percent to $50.97. The company started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.


Volume was lower than average, as 4.78 billion shares were traded on the New York Stock Exchange, NYSE MKT and Nasdaq. This is well below the 2012 average of 6.42 billion per session.


Declining stocks outnumbered advancing ones on the NYSE by 1,629 to 1,363, while on the Nasdaq decliners beat advancers 1,438 to 1,066.


(Reporting By Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)



Read More..

Study: Billions of Earth-size planets in Milky Way






LOS ANGELES (AP) — Our Milky Way is home to at least 17 billion planets that are similar in size to Earth, a new estimate suggests. That’s more than two Earth-size planets for every person on the globe.


Just how many are located in the sweet spot where water could exist is “simply too early to call,” said Francois Fressin of the Harvard-Smithsonian Center for Astrophysics, who presented his work at an astronomy meeting Monday.






It’s the first reliable tally of the number of worlds outside the solar system that are the size of Earth, but the hunt for our twin is far from over.


Despite the explosion of exoplanet discoveries in recent years, one find remains elusive: A planet that’s not only the right size but also in the so-called Goldilocks zone where it’s not too hot or too cold for water to be in liquid form on the surface.


The sheer number of Earth-size planets gives astronomers a starting point to narrow down which ones are in the habitable zone.


Fressin and his team came up with their figure by conducting a fresh analysis of data collected by NASA’s Kepler spacecraft, which was launched in 2009 to track down other Earths. They estimated at least one in six stars in the galaxy hosts a planet the size of ours, translating to at least 17 billion Earth-size worlds.


Using a different method, a team from the University of California, Berkeley and University of Hawaii separately came up with a similar estimate. They calculated 17 percent of distant stars have planets that are the same size as Earth or slightly larger.


The findings were presented at the American Astronomical Society in Long Beach, Calif.


Meanwhile, the Kepler spacecraft continues to spot planets as they pass between Earth and the star they orbit. It found 461 new candidate planets, bringing the total to 2,740 potential planets, said mission scientist Christopher Burke at the SETI Institute.


Most of the new Kepler finds were driven by discoveries of Earth-size planets and super-Earths. Four of those are thought to reside in the Goldilocks zone, but more observations are needed.


Fressin said it’s clear that rocky planets abound outside the solar system.


“If you look up on a starry night, each star you’re looking at — almost each one of them — has a planetary system,” Fressin said.


___


Follow Alicia Chang at http://twitter.com/SciWriAlicia


___


Online:


Kepler mission: http://www.nasa.gov/kepler


Science News Headlines – Yahoo! News





Title Post: Study: Billions of Earth-size planets in Milky Way
Url Post: http://www.news.fluser.com/study-billions-of-earth-size-planets-in-milky-way/
Link To Post : Study: Billions of Earth-size planets in Milky Way
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..

Asian shares steady, Basel ruling supports banks


SINGAPORE (Reuters) - Asian shares outside Japan edged up on Monday, supported by data showing the U.S. economy continuing on a path of slow but steady recovery that had pushed Wall Street stocks to a five-year high.


Financial stocks were underpinned by a decision from global regulators on Sunday to give banks four more years and greater flexibility to build up cash buffers so they can use some of their reserves to help struggling economies grow.


MSCI's broadest index of Asia Pacific shares outside Japan <.miapj0000pus> gained 0.1 percent, but Tokyo's Nikkei share average <.n225> retreated after touching a 23-month high in early trade and last stood down 0.4 percent. <.t/>


The MSCI benchmark's financial sector sub-index <.miapjfn00pus> gained 0.2 percent after the Basel Committee of banking supervisors agreed at the weekend to a relaxation of a draconian earlier draft of new global bank liquidity rules.


Shares in Japanese exporters were supported by a weaker yen, which was steady around 88.17 to the dollar, after the U.S. currency rose as far as 88.40 yen, its highest in nearly two-and-a-half years, on Friday.


The dollar ticked up slightly against the euro, which traded around $1.3060.


The U.S. benchmark S&P 500 index <.spx> closed at its highest level since December 2007 on Friday after data showed a steady pace of jobs growth and brisk expansion of the services sector in the world's biggest economy.


(Reporting by Alex Richardson; Editing by Eric Meijer)



Read More..