Google
 

Monday, October 29, 2007

Oil leaps to record over $93 on Mexico, dollar


LONDON (Reuters) - Oil leapt to a record high for a third day on Monday, surpassing $93 as Mexico briefly halted one-fifth of its production and the dollar struck new lows.

U.S. crude, which hit a high of $93.20 a barrel earlier, was up $1.02 cents at $92.88 by 8:07 a.m. EST. London Brent, which hit a record high $90, was up 89 cents at $89.58.

Oil prices have soared by more than a third since mid-August as a stand-off between Turkey and Kurdish rebels, dollar weakness, easing interest rates and winter supply fears attracted a fresh wave of investment capital.


Prices rose on Monday after Mexico's state-owned oil company Pemex said it was shutting about 600,000 barrels per day (bpd) of oil output due to bad weather in the Gulf of Mexico.

A spokesman said Pemex should be able to resume output immediately once the cold weather passed in two days. Mexico's three main export terminals were shut on Sunday.

The dollar hit another record low against a basket of currencies on expectations the Federal Reserve will trim interest rates this week and possibly again this year.

Central banks have poured billions of dollars into financial markets to ease a liquidity crisis. Much of that money has found its way into energy, commodities and emerging markets.

Gains in oil accelerated amid unusually heavy trade of 16,000 lots on the U.S. front-month contract, with some traders pointing to short-covering by options players or technical stop levels around the $93 a barrel mark.

"In our view, implied volatility in crude oil options looks attractive... In addition, crude oil volume also looks attractive relative to volume in other asset classes," Merrill Lynch analysts wrote in a research note.

POLITICAL TENSIONS

OPEC has shrugged off calls from importer nations to raise output, saying politics and speculation -- not a supply shortfall -- are to blame.

"I haven't any signal that there is any shortage of crude... I believe a big portion of the oil price today is related to geopolitics and fear factors, and we cannot solve it," Qatari Oil Minister Abdullah al-Attiyah told reporters in Doha.

"Sometimes there is a shortage of oil products but not of crude. This is because of limitations of refinery (capacity). Consumers and producers should invest more in refining. We don't have a magic stick to solve this."

The possibility of a large-scale Turkish incursion into northern Iraq to root out Kurdish rebels is also keeping the oil market on edge. The tension has sparked worries of a broader conflict in the oil-rich Middle East.

Turkey's foreign minister Ali Babacan, speaking on Sunday after talks aimed at averting a Turkish incursion into Iraq, said diplomatic and military operations could both be used.

"There remain concerns that oil market conditions are tightening and geopolitical tensions are also continuing to add a premium to oil prices," said David Moore, a commodities analyst at the Commonwealth Bank of Australia.





To subscribe (FREE) : HERE
To view us logon at
http://worldtopnews.blogspot.com

Tuesday, October 23, 2007

Calif. fires force nearly 1M from homes



SAN DIEGO — As a dozen fires raged along the coast of Southern California Tuesday for a third day, San Diego County took the brunt of the wind-whipped fury that forced the evacuation of more than 350,000 houses, encompassing nearly 950,000 people based on average household size, including 10,000 evacuees huddled in QualComm stadium.

Fire has burned across nearly 600 square miles, killing two people, destroying more than 1,300 homes and prompting one of the biggest evacuations in California history, from north of Los Angeles, through San Diego to the Mexican border.

Gov. Arnold Schwarzenegger said the flames were threatening 68,000 more homes.


Krista Flynn, of Rancho Bernardo, who was holed up at QualComm stadium, home of the NFL's San Diego Chargers, said she fled Monday morning with her dog, Emma, when the evacuation order came.

"Somebody came and pounded on my door and said we had to get out. My neighbors said everybody's leaving," she said.

Like thousands of others, Flynn was anxiously watching TVs mounted around the stadium to get the latest news.

"It's scary," she said. You don't know where you're going to go if it (her home) is not there when you get back."

On Tuesday, President Bush declared a federal emergency for seven counties to speed disaster-relief efforts. He also sent Homeland Security Secretary Michael Chertoff and FEMA Administrator David Paulison to Southern California to get a first-hand view of the disaster.

"All of us across this nation are concerned for the families who have lost their homes and the many families who have been evacuated from their homes," Bush said. "We send the help of the federal government."

The fires that broke out up and down the Southern California coast came in all sizes, from the 150-acre "Grass Valley Fire" in San Bernardino county to the 54,000-acre "Ranch Fire" fire west of Los Angeles.

In the Lake Arrowhead area east of Los Angeles, which was hard hit by fire four years ago, flames destroyed at least 160 homes. Another 100 homes were destroyed in the nearby mountain community of Running Springs.

But San Diego County was hardest hit Tuesday, as five separates wildfires raged in the north, in the central regions and along the Mexican border.

The area also claimed one of the two deaths from the wildfires: Thomas Varshock, 52, of Tecate, a town on the U.S. side of the border southeast of San Diego. His body was found Sunday afternoon, the San Diego County Medical Examiner's Office said. The other victim was an unidentified civilian who died of burns in a fire in Santa Clarita, in northern Los Angeles County, said U.S. Forest Service spokesman Jay Nichols.

In San Diego County, public schools were closed, as were campuses at the University of California, San Diego and San Diego State University.

The flames raced so quickly through the county that many residents were caught with little time to flee. Many rushed to QualComm stadium. Others sought refuge at fairgrounds, schools and community centers.

At QualComm stadium, more than 10,000 people slept on cots and in tents erected in the corridors and outside in the parking lot around the stadium.

Maura Kizzek came with her husband and two teen-age daughters early Tuesday when they saw television news reports that fire was moving toward their home in La Mesa.

"We just got scared. We haven't lived here very long. We don't know very many people and we don't know our way out of the city," she said.

Kizzek said her family moved to the area recently from Boston.

"We're used to snowstorms and tornadoes, but nothing like this. It's terrifying," she said.

Mark Saldana, 52, of El Cajon said his home was fine. After checking on his grown children, he headed to the stadium to volunteer. He was put to work translating for Spanish-speaking evacuees and distributing food.

"It's an unfortunate situation," he said. "If it's going to burn, it's going to burn. And you can't do anything about it. So I might as well be here and help."

The Creswells, a family of four from Ramona, which was evacuated Sunday evening, were resting around their pickup and small cargo trailer where they had plenty of food and were planning a spaghetti dinner.

Susie Creswell said she had complained for years about her husband Greg's Boy Scout camping trailer, but was glad to have it on hand when the evacuation order came.

"He's an Eagle Scout so he's always prepared," she said. "I'll never complain about this trailer again."

Creswell said the family also had fled a wildfire in 2003."We were much calmer this time," she said.

Unlike the hurricane evacuees stranded in the New Orleans Superdome during hurricane Katrina, the federal government moved swiftly to provide blankets, cots food and water to the first wave of evacuees at QualComm stadium.

"We are well ahead of the requirements and we will be able to make sure that all shelters have sufficient material," said a FEMA spokesman in Washington.

Sen. Dianne Feinstein, D-Calif., called the federal response "a test of whether FEMA has gotten its act together post-Katrina."

Chertoff and Paulison, flying in from Washington, planned to stop first at the stadium.

Gov. Arnold Schwarzenegger, who also visited the facility Tuesday, pledged to do all that he could to help the firefighting effort and those who lost their homes.

"I will be relentless all the way through this," the governor said.

Schwarzenegger ordered 800 National Guard troops off the U.S.-Mexican border to help firefighters. All San Diego police officers and detectives were ordered to help move people to safety and handle other fire-related emergencies.

San Diego Mayor Jerry Sanders said that 274,000 homes had been ordered evacuated on Monday.

At dawn on Tuesday, 3,800 additional homes were ordered evacuated in Wildcat Canyon and Multh Valley, and another 1,800 in North Jamul and Indian Springs.

"It was nuclear winter. It was like Armageddon. It looked like the end of the world," Mitch Mendler, a San Diego firefighter, said as he and his crew stopped at a shopping center parking lot to refill their water truck from a hydrant near a restaurant. "I lost count" of how many homes burned.

The fires have exploding and shooting embers in all directions, preventing crews from forming traditional fire lines and severely limiting aerial bombardment, fire officials said.

"Lifesaving is our priority. Getting people out from in front of the fire — those have been our priorities," said Capt. Don Camp, a spokesman for the California Department of Forestry and Fire Protection.

The firestorms have come during one of the driest years on record: From Los Angeles to San Diego, the region has received less than one-third of its normal rainfall.

The combination of season, climate and weather conditions driving this week's infernos is unique to Southern California, says Tim Brown, a fire climate and ecosystem specialist.

"This is, indeed, with the Santa Ana (winds), exclusively a Southern California pattern," said Brown, a research professor at the University of Nevada's Desert Research Institute in Reno.

"This is the kind of fire that has the potential to get much worse," said Don Windeler, director of model management for Risk Management Solutions, which gauges and manages disaster potential.


Source : US Today

To subscribe (FREE) : HERE
To view us logon at
http://worldtopnews.blogspot.com

Friday, October 5, 2007

Fish: Healthy to Eat During Pregnancy?


Fish and seafood can be beneficial to infant brain development during pregnancy, despite fears of mercury and its effect on an infant’s nervous system, Reuters reports.

Fish and seafood include omega-3 fatty acids, known to aid brain development of an infant, a benefit that outweighs the concern of mercury contamination. Mercury contamination can harm the nervous system of fetuses, according to experts.

Click here to read the Reuters story

The nutrients in fish and seafood can also help with motor skill development in children and prevent postpartum depression in mothers, said experts, who recommended a minimum of 12 ounces per week. Options include salmon, tuna, sardines and mackerel and seafood like shrimp, lobster and clams.

This amount contradicts prior warnings by the U.S. Food and Drug Administration and U.S. Environmental Protection Agency that pregnant women should not consume more than 12 ounces of fish and seafood per week.



Source : The Fox News

To subscribe (FREE) : HERE
To view us logon at
http://worldtopnews.blogspot.com

Fish: Healthy to Eat During Pregnancy?


Fish and seafood can be beneficial to infant brain development during pregnancy, despite fears of mercury and its effect on an infant’s nervous system, Reuters reports.

Fish and seafood include omega-3 fatty acids, known to aid brain development of an infant, a benefit that outweighs the concern of mercury contamination. Mercury contamination can harm the nervous system of fetuses, according to experts.

Click here to read the Reuters story

The nutrients in fish and seafood can also help with motor skill development in children and prevent postpartum depression in mothers, said experts, who recommended a minimum of 12 ounces per week. Options include salmon, tuna, sardines and mackerel and seafood like shrimp, lobster and clams.

This amount contradicts prior warnings by the U.S. Food and Drug Administration and U.S. Environmental Protection Agency that pregnant women should not consume more than 12 ounces of fish and seafood per week.



Source : The Fox News

To subscribe (FREE) : HERE
To view us logon at
http://worldtopnews.blogspot.com

Myanmar Junta Threatened by U.S. With Possible UN Arms Embargo


By Bill Varner

Oct. 5 (Bloomberg) -- The U.S. will seek United Nations sanctions against Myanmar, possibly including an arms embargo, unless the nation's military regime ends its crackdown against protesters and releases political prisoners, Ambassador Zalmay Khalilzad said.

Khalilzad made the threat after UN Secretary-General Ban Ki-moon and his envoy to Myanmar said they've opened the way for talks between the junta and opposition leader Aung San Suu Kyi.

``A window of opportunity has opened, and it is vital that the government of Myanmar responds positively,'' Ban told the UN Security Council today, before envoy Ibrahim Gambari reported on his trip this week to the Southeast Asian nation. Ban said he urged Suu Kyi and military leader General Than Shwe to meet ``as soon as possible.''

International condemnation of Myanmar's military regime has intensified since it deployed soldiers on Sept. 26 to crush the protests. Security forces clubbed and shot at demonstrators, raided monasteries and arrested Buddhist monks. At least 30 people were killed and 1,400 others arrested, according to the Australian government.

UN envoy Gambari met with Suu Kyi, then with Shwe, and then with Suu Kyi again. He returned to New York yesterday and briefed Ban on the talks.

Than Shwe subsequently said he was willing to meet with Suu Kyi if she stops calling for international sanctions against Myanmar and urging the population to confront the junta.

Gambari told the Security Council he was ``cautiously encouraged'' by the junta's willingness to meet with Suu Kyi, provided certain conditions were met. ``The sooner such a meeting can take place, the better, as it is a first and necessary step to overcome the high level of mistrust between them,'' Gambari said.

Suu Kyi

Suu Kyi, 62, has spent almost 12 years in detention since the junta rejected the results of parliamentary elections in 1990 won by her National League for Democracy.

The Nobel Peace Prize winner will consider Than Shwe's offer ``in a positive light,'' Agence France-Presse cited NLD spokesman Nyan Win as saying from the former capital, Yangon.

Khalilzad told the Security Council that while the potential for talks between Shwe and Suu Kyi was encouraging, the conditions set by the junta were ``unrealistic.''

The U.S. demands that the junta end the crackdown on protesters, lift curfews, remove troops from around monasteries and release all political prisoners, Khalilzad said.

The top U.S. envoy to Myanmar met earlier today with Deputy Foreign Minister Maung Myint in the capital, Naypitaw, the U.S. mission to the UN said. Shari Villarosa, the acting ambassador to Myanmar, received word yesterday that the junta wanted to hold the talks.

`Meaningful Dialogue'

State Department spokesman Sean McCormack told reporters in Washington that Villarosa would deliver the message that the regime ``needs to start meaningful dialogue with all the democratic opposition groups'' and ``stop the violent crackdown.''

Ban called the government's use of force ``abhorrent and unacceptable'' and said all political prisoners should be immediately released.

It was ``too early to measure the impact of Mr. Gambari's visit, or to label it a success or a failure,'' Ban said.

The UN has demanded the military regime reveal how many people were killed last week during the crackdown on the biggest anti-government protests in almost 20 years.

Gambari said it ``remains unclear'' how responsive the Myanmar leadership will be to messages from the U.S. and UN.

British Ambassador John Sawers said he would ask the Security Council to adopt a formal statement demanding an end to use of force against protesters and release of Suu Kyi and other detainees, and urging movement toward ``national reconciliation.''

Source : TheBloomberg




To subscribe (FREE) : Click Here
To read many more news.

Tuesday, October 2, 2007

Google Stock Approaches $600 as Web Ad Spending Soars


By Ari Levy

Oct. 2 (Bloomberg) -- Google Inc. shares may surpass $600 for the first time as investors bet the world's most popular Internet search engine will capture more sales from companies shifting advertising spending to the Web.

Google, which began trading at $85 in 2004, has the sixth- highest stock price in the U.S. and has surged 27 percent this year. The shares rose $1.84 to $584.39 at 4 p.m. New York time on the Nasdaq Stock Market and earlier reached $596.81.

The search engine has taken users from Yahoo! Inc. and Microsoft Corp., pushing sales growth to at least 70 percent in each of the past three years. Google plans to lure more Web surfers and advertisers through the YouTube video site, bought last year, and has introduced software to sell mobile ads.

``Google is still dominating,'' Piper Jaffray & Co. Web analysts including Gene Munster said in an Oct. 1 report.

Munster, in Minneapolis, rates the stock ``outperform'' and estimates it will reach $660 within a year as Google parlays its lead in search into other areas of online advertising next year.

The Web advertising market in the U.S. will grow 29 percent this year to $21.7 billion and then more than double by 2011, according to EMarketer Inc. Ads linked to search results will account for about 40 percent of that, the New York-based researcher estimates.

The company bolstered its search engine in May by adding links to YouTube videos, images, book excerpts and news. Microsoft and Yahoo have followed in the past week with their own upgrades. Google also is counting on its $3.1 billion purchase of DoubleClick Inc., its largest, to gain sales in the display ad market. The deal still requires regulatory approval.

Google's Gains

Google's share of the Internet search market increased to 56.5 percent in August from 55.2 percent the previous month, according to Reston, Virginia-based researcher ComScore Inc. Yahoo fell to 23.3 percent and Redmond, Washington-based Microsoft dropped to 11.3 percent from 12.3 percent.

Warren Buffett's Berkshire Hathaway Inc. had the two highest priced stocks in the U.S., with the Class A shares trading at $119,799. The others above $600 are Seaboard Corp., a pork processor and cargo shipper, CME Group Inc., operator of the world's biggest futures market, and Washington Post Co.

In its 2004 IPO, the biggest ever for an Internet company, Google dodged U.S. investment banks and sold shares directly to investors. The so-called Dutch auction allowed smaller firms to bid for shares, giving the bigger ones less control over the sale.

Sharing the Wealth

Google's advance has made billionaires out of co-founders Larry Page and Sergey Brin, who started the company as Stanford University graduate students in 1998. Page, 34, and Brin, 34, each have shares valued at more than $18 billion. Chief Executive Officer Eric Schmidt owns over $5 billion in stock.

The company has a stock market value of more than $180 billion, the third largest among U.S. technology companies, behind software maker Microsoft and Cisco Systems Inc., the biggest maker of computer networking equipment.

While 33 of 36 analysts tracked by Bloomberg recommend buying the shares, the price forecasts suggest more skepticism. Of the 28 analysts with estimates, 20 have predictions below $625 for the next 12 months.

To contact the reporter on this story: Ari Levy in San Francisco at alevy5@bloomberg.net


Source : Bloombreg

To subscribe (FREE) : Click Here
To read many more news.
Related Posts with Thumbnails

Wired Top Stories

world news

Top News

Africa News

Health News

Technology News

Business News

Movie News

Entertainment News

Sport News

Fashion and Style News

Sports Leisure News

Technology News

International News

Reuters News

TV News

Entertainment News

Entertainment News

TV: Business

Movie Reviews

Travelling News

Money Matters News

Middle East News

Asia Pacific News

Europe News

Labels

Pakistan Pregnancy US Iran Bhutto British China Dies NASA google Abstinence students no more likely to abstain from sex Anna Nicole Smith Benzir Bhutto Bush Fish For Healthy Iraq Mosques Motorola Russia deaths gay hate indian couple iphone men oil laws sunni women 5 ways to get your sex life going 70 Gigapixel Photo A suicide bomber AIDS Afghan Africa Ahmadinejad Airman spots jetliner fuel leak Amy Winehouse Anna Nicole Smith boyfriend and doctors charged Antioxidants Don’t Lower Heart RiskHealthy Arab-Israeli Assassinated Asteroid Belt Astronauts Back Batteries Beckham Beirut Bil Bipolar Disorder Diagnosis Up In Children Bird Flu Botox Breast-feeding Brings Britain Business CTIA Caffeine California Canada Cell phones Certain Veto Child Porn China Seeks to Calm Fears Amid Scandal China justifies sanctions veto Chinese Chlamydia Citigroup Clash in Combat Mission in Iraq Will End Aug 31 2010 Consumer Couple Sues Created Crossover Ball Dell Dems Disaster Disney backs star after nude scandal E.Coli in Beef Linked to 19 Illnesses in Ohio Early-stage Sperm Cells Earthquake Earthquake China Edmund Hillary Elections Electric Fish Everest Experts F1 FDA Families of Columbia Federal Reserve Florida Food Crisis Former From Human Bone G.M G8 Gates Gene Therapy Cures Color-Blind Monkeys Georgia Georgia governor leads prayer for rain Golfer Killing Hawk Grand Canyon Grand Entrance Guinea prime minister HIV Heart Attack In Youth IMF Indonesian Infants International Atomic Energy Agency (IAEA) Iowa River Falls Iran Cyber Battle Iran Leader Iranian Iraqis Israel Jamie Lynn Spears Jennifer Hudson Jennifer Lopez Karadzic Kashmir route Keeping In Touch In A Wired World LONDON Lebanese Lily Allen Lindsay Lohan Malaysian Grand Prix Man's Marriage Marrow Massive Mogadishu Mouseless Mr. Bush Mugabe Musharraf Myanmar N Korea NASA plants the seeds of space exploration NEW YORK NIU North Carolina Over PCs Pakistan Army Moves Against Pro-Taliban Militants Palestinian Paris Hilton Pentagon Police Portable Office Possible President Mugabe Pressures mount on new Thai PM Protesters RIYADH Racy MySpace Pics Rally Removing a Champagne Cork Robots Sex Life Rodney Romney Russia defies ceasefire Russian President Security Council Sepang Sex Diseases Shanghai faces direct hit from Typhoon Wipha Skittish Skype Solomon Islands Sparks Spacecraft Sri Lanka TB Taiwan Strait Taliban Technology Teen Teenager unlocks iPhone's secret Terminator Salvation Thai-Cambodia The Next Hacking Frontier Torture Troop-Withdrawal Tropical Storm Gustav Intensifies Tropical Storm Hanna/Hannah is Born Tsunami Alert U.S. UK captives UM Universal Studios in LA Very low risk Veto Virus Vonage War-scarred Web Attacks West Nile Wired Bird of Paradise Wireless 2007 Wolfowitz World leaders XP Yahoo Yeltsin Zimbabwe abyss air crash anti-anxiety anti-depressant attack ban bed beef recall bookshop brain cancer britney spears burma bus blast calls climate change countries cut damage diabetes divorce eBay epidemic fall fire fire burning food fresign gadget lab hulk hogan human organ humans in Massachusetts investigated japanese jobs k-fed leaders lebanon linda hogan melamine middle east miscarriage missile mp3 mumbai muslim american myspace mystery napster nigeria obesity oil price on online auction opec patient's pet food pressure psychological quake relief reactor recession reconciliation relative religious saudi arabia seven shia shooting slavery sleep society soldier spiderman stricke study says tanks enter Georgian city teenager arrested to shut to speed up toothpaste trafficking unesco vehicles viacom virus kill honeybees in usa war warming warn web ad spending will wired video wonder world bank wresler youtube