Euro near two-week low, shares up on rekindled rate cut hopes

LONDON (Reuters) - European shares rose and the euro hovered near a two-week low on Friday after the European Central Bank rekindled expectations that it could cut interest rates again.


Strong Chinese trade data also helped lift optimism about global growth prospects, boosting oil, copper and Asian shares, while the yen rose sharply after Japan's finance minister said the currency's recent drop had been overdone.


The ECB left rates at a record low 0.75 percent on Thursday but the bank's President Mario Draghi levered the door to a cut back open by saying it would monitor whether the euro's rise over recent months could push inflation below its comfort zone.


European shares were enjoying their best session of an otherwise low-key week as midday approached, on the hopes lower borrowing rates -- or at least the threat of them -- would reverse some of the 8 percent trade-weighted rise in the euro since August.


"The ECB had quite an impact on the euro-dollar and the positive Chinese data we have had has helped shares," said ABN Amro economist Aline Schuiling.


"Draghi signaled quite clearly yesterday that with the rise in the euro, the risks to price stability are to the downside. We expect the dollar to continue to strengthen, but if that reverses then markets would price in a rate cut."


London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were up 0.5, 0.6 and 0.2 percent respectively by 1100 GMT pushing the pan-European FTSEurofirst 300 <.fteu3> up 0.5 percent, though it was still on course for its second consecutive weekly fall.


U.S. stock futures pointed to a steady start on Wall Street.<.n/>


Draghi said the euro's recent surge was a sign of a return of confidence, but cautioned: "We certainly want to see whether the appreciation is sustained and will alter our risk assessment as far as price stability is concerned."


The comments saw the currency tumble to $1.33705, the lowest since January 25, although a modest mid-morning rebound lifted it back to $1.3404. It had earlier also hit a two-week low against sterling and a one-week low versus the yen.


The yen, the other key focus of foreign exchange markets following the push by Japan's government to ease monetary policy, rose sharply after the country's finance minister said the currency's recent drop had been overdone.


The euro fell 1.5 percent against the yen to 123.54 yen with traders reporting selling by Asian funds. The dollar shed 1 percent to hit a session low of 92.17 yen as a U.S.-based investor sold the greenback.


HAPPY CHINESE NEW YEAR


Helping to bolster strengthening global growth hopes, China said its exports grew 25 percent in January from a year ago, the strongest showing since April 2011 and well ahead of market expectations, while imports also beat forecasts, surging 28.8 percent on the year.


It lifted commodities, including copper, which ended a four day losing streak. Brent crude oil edged towards $118 per barrel.


Brent has gained over the last three weeks as positive data suggested the global economy had turned a corner, which augurs well for fuel demand, while supply worries stemming from tensions in the Middle East have also supported prices.


Earlier MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent and Australian shares rallied 0.7 percent to 34-month highs. Chinese markets are closed next week for the Lunar New Year holiday, while Hong Kong will resume trading on Thursday. Despite Friday's rises, MSCI's world equity index <.miwd00000pus> was on course for a weekly fall of about one percent, which would be its biggest drop since November and the first weekly decline of 2013.


However, the global index is still up four percent for the year to date and is not far from its best levels since mid-2008.


"China's economic conditions are improving and the trade data confirms the continuation of a recovery trend. Not just the trade data but retail, production and investment flows clearly show that the economy bottomed out in the third quarter last year," said Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo.


BANK REPAYMENTS


Money markets rates reversed some of their recent gains following Draghi's insistence that the ECB's policy will remain accommodative.


The central bank also said on Friday that banks will return another 5 billion euros of its crisis loans next week, suggesting the initial flood of repayments has turned into a steady trickle.


In the bond market, benchmark German Bund futures continued to push higher as Draghi's cautious tone on the euro zone's economy underpinned demand for low risk assets.


Nagging concerns about political stability in Spain and Italy were piling pressure on higher-yielding peripheral bonds to the benefit of Bunds, overshadowing an Irish bank debt deal that will cut Dublin's borrowing costs over the next decade.


"On the 10-year Spanish bonds, we could go significantly above 5.50 percent and reach the 5.60 area and it can be quite fast and on the BTP 4.70-75 area could be reached as well," BNP Paribas strategist Patrick Jacq said.


But "On a longer-term view we still expect market friendly outcomes of the political issues and the setbacks offer some opportunities to enter long positions."


Spanish 10-year yields were last at 5.42 percent while equivalent Italian yields were about 1 basis point up at 4.58 percent.


(Additional reporting by Richard Hubbard and Emelia Sithole-Matarise; editing by Philippa Fletcher)



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Tens of thousands mourn slain Tunisian opposition leader


TUNIS (Reuters) - Tens of thousands of mourners chanted anti-Islamist slogans on Friday at the Tunis funeral of secular opposition leader Chokri Belaid, whose assassination has plunged Tunisia deeper into political crisis.


Crowds surged around an open army truck carrying Belaid's coffin, draped in a red and white Tunisian flag, from a cultural center in the slain leader's home district of Jebel al-Jaloud. Demonstrators with flags and banners packed surrounding streets.


"Belaid, rest in peace, we will continue the struggle," they chanted, holding portraits of Belaid, who was shot dead outside his home on Wednesday by a gunman who escaped on the back of a motorcycle.


Some shouted slogans against Rachid Ghannouchi, leader of the ruling Islamist Ennahda party. "Ghannouchi, assassin, criminal," they chanted. "Tunisia is free, terrorism out."


Tunisia, cradle of the Arab uprisings, is riven by tensions between dominant Islamists and their secular opponents, and by frustration at the lack of social and economic progress since President Zine al-Abidine Ben Ali was ousted in January 2011.


In Sidi Bouzid, the southern town where the revolt began, about 10,000 protesters gathered to mourn Belaid and shout slogans against Ennahda and the government, witnesses said.


Hundreds of riot police deployed in Habib Bourguiba Avenue, a flashpoint for protests in the Tunisian capital. Banks, factories and some shops were closed in response to a strike called by unions in protest at Belaid's killing, but buses were running normally.


Tunis Air suspended all its flights because of the strikes, a spokesman for the national airline said, adding that flights operated by other airlines were not affected.


However, airport sources in Cairo said Egypt's national airline EgyptAir had canceled two flights to Tunisia after staff at Tunis airport joined the general strike.


After Belaid's assassination, Prime Minister Hamdi Jebali, an Islamist, said he would dissolve the government and form a non-partisan cabinet of technocrats to rule until elections could be held.


But his own Ennahda party and its secular coalition partners complained they had not been consulted, casting doubt over the status of the government and compounding political uncertainty.


No one has claimed responsibility for the killing of Belaid, a lawyer and secular opposition figure.


ENNAHDA OFFICES TARGETED


His family have blamed Ennahda but the party has denied any hand in the shooting. Crowds have attacked several Ennahda party offices in Tunis and other cities in the past two days.


While Belaid had only a modest political following, his criticism of Ennahda policies spoke for many Tunisians who fear religious radicals are bent on snuffing out freedoms won in the first of the revolts that rippled through the Arab world.


"Criminals assassinated Chokri, but will not assassinate his struggle," his widow Besma Khlifi said on Thursday. "My sadness ended when I saw thousands flocking to the streets ... At that moment I knew that the country is fine and men and women in my country are defending democracy, freedom and life."


All three ruling parties and sections of the opposition rebuffed Jebali's plan to create a small, technocrat government to take over day-to-day matters until elections could be held, demanding they be consulted before any such move.


"In the likely event that there is no agreement, civil unrest will increase, reaching a level that cannot be contained by the police," said Firas Abi Ali of the London-based Exclusive Analysis think-tank.


"If unrest continued for more than two weeks, the army would probably reluctantly step in and back a technocrat government, as well as fresh elections for a new Constituent Assembly."


The economic effect of political uncertainty and street unrest could be serious in a country which has yet to draft a new constitution and which relies heavily on the tourist trade.


Mohamed Ali Toumi, president of the Tunisian Federation of Travel Agencies, described the week's events as a catastrophe that would have a negative impact on tourism, but he told the national news agency TAP no cancellations had been reported yet.


France, which had already announced the closure of its schools in Tunis on Friday and Saturday, urged its nationals to stay clear of potential flashpoints in the capital.


"Unless unavoidable, it is best to stay away from the city center today, and steer clear of demonstrations and major road crossings or sensitive buildings," said Helene Conway-Mouret, minister in charge of French people living abroad.


The Austrian foreign ministry issued a similar warning.


The cost of insuring Tunisian government bonds against default rose to its highest level in more than four years on Thursday and ratings agency Fitch said it could further downgrade Tunisia if political instability continues or worsens.


(Additional reporting by Alexander Dziadosz in Cairo, Brian Love in Paris and Michael Shields in Vienna; Editing by Andrew Heavens)



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LinkedIn beats Street, outstrips social media rivals






SAN FRANCISCO (Reuters) – LinkedIn Corp extended its hot streak on Thursday, announcing both blow-out quarterly profits and a bullish forecast for the new year that exceeded Wall Street’s already lofty expectations.


The results reaffirmed the “professional” social network’s reputation as a fast-growing but sure-footed business — and the star exception in a mostly disappointing social media sector.






Excluding certain items, net income was $ 40.2 million, or 35 cents a share, well above the 19 cents expected by analysts polled by Thomson Reuters I/B/E/S.


The results meant LinkedIn beat analyst estimates for the seventh quarter in a row and sent shares of the company, which have doubled in the past 12 months, soaring 9 percent higher to $ 135 after hours.


Revenue rose a better-than-expected 81 percent from a year ago to $ 303.6 million, as millions of new job seekers and corporate recruiters around the world signed up with LinkedIn to post resumes or poach competitors’ employees.


The company offered bullish forecasts for the first quarter as well, projecting revenue between $ 305 million and $ 310 million, above analyst estimates of $ 301 million.


“You can pick out a lot of things that were great, from customer adds to accelerating revenue to growth in international,” said Kerry Rice, an analyst at Needham & Co. “On top of that, guidance is pretty outstanding. And from a historical perspective, they’ll likely beat those numbers too.”


TURBOCHARGED GROWTH


Founded by former PayPal employees in 2002, LinkedIn remains one of the most profitable Web companies, with gross margins approaching 90 percent.


At a time when Facebook Inc stock trades 25 percent below its initial public offering price and basic questions loom over the business models of online gaming group Zynga Inc and daily deals company Groupon Inc, LinkedIn has proved it can consistently make money by selling access to its 200 million users’ resumes since it went public in May 2011 at $ 45 a share.


The size of LinkedIn’s user base has reinforced its position against competitors, few of whom pose a serious challenge. Facebook only recently announced a “Jobs Board” tool in November. And on Thursday, shares of Monster Worldwide Inc fell 7 percent after the human resources company reported a quarterly loss and said it would pull out of several countries.


Analysts in recent months, however, have begun to question how long LinkedIn can sustain its turbocharged growth as it becomes saturated in some U.S. markets.


On Thursday’s earnings call, company executives said the majority of LinkedIn’s users are now based outside of the United States, and the company is aggressively targeting job markets in Hong Kong and Brazil.


Sales from international markets more than doubled over the past year to $ 114.6 million, or 38 percent of total revenue in the quarter, the company said.


In response to a slowdown in user growth and the slide in page views, LinkedIn has introduced some social media features to encourage visitors to click more on its site, as opposed to uploading their resumes and never coming back.


LinkedIn has introduced personal blogs by successful businesspeople like Sir Richard Branson, whom users can “follow” for updates.


Chief Executive Jeff Weiner told analysts on Thursday’s earnings call that the blog series, called “Influencers,” has exceeded expectations and now features contributions from business luminaries like GE Chairman Jeffrey Immelt and investor Mark Cuban.


Other social mechanics, such as a recent addition that encouraged users to endorse their colleagues for their professional skills, also helped keep users coming back to the site more frequently, Weiner said.


The endorsements feature had the effect of “creating the right kind of viral loops,” he said.


(Editing by Matthew Lewis and Richard Pullin)


Social Media News Headlines – Yahoo! News





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American Idol: Early Favorites Eliminated in Hollywood






American Idol










02/07/2013 at 10:30 PM EST







From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban


Michael Becker/FOX.


At the beginning of Thursday's American Idol, there were 43 men left in the competition. The next hour was a bloodbath, with many tears and a few tantrums – as well as some standout performances. Curtis Finch Jr., for example, performed a version of Christina Perri's "Jar Of Hearts" that was arguably the strongest of the evening. It may be the season's most overdone song, yet Finch successfully infused it with a rising gospel vibe.

Like every reality show, the contestants learned valuable life lessons as they fought to stay in the game. Here are five:

1. Never Let Them See You Sweat
Paul Jolley looked like he was going to throw up when he took the stage. "I'm so nervous," he said as he fought back tears. The judges watched quietly as he pulled himself together and gave a strong performance of Carrie Underwood's "Blown Away." He advanced, but not before Nicki Minaj criticized him for showing his nerves. "You walked out so defeated and that really irritated me," she said. "Just give us one minute of professionalism."

2. Be Funny and Unexpected
Admit it: It was kind of funny watching Gurpreet Singh Sarin nail "Georgia On My Mind." The judges liked him, perhaps because he doesn't fit any mold. Neither does Charlie Askew, who worked his quirky awkwardness into an intriguing version of Gotye's "Somebody that I Used To Know," complete with a spoken-word intro. "I am obsessed with you," Minaj said, prompting Askew to respond, "Baby, I could say the same thing." She ate it up.

3. Too Much of A Good Thing Can Be Lethal
Matheus Fernandes, one of the standouts from the Los Angeles auditions, was eliminated after a shaky rendition of Kelly Clarkson's "Stronger." The 4'9" contestant made one too many self-depreciating comments about his height, prompting Minaj to say, "Sometimes things can go from being inspiring to becoming you wanting a pity party." When Carey called him a "good person," his face said it all – Fernandes knew he wouldn't be advancing to the next round. In contrast, Lazaro Arbos said nary a word about his stutter, yet he advanced easily, despite an unspectacular rendition of Lady Gaga's "Edge of Glory."

4. If You Lose, Lose Gracefully
The night's "Sour Grapes Award" goes to Papa Peachez, who performed a karaoke-worthy version of Gaga's "Yoü and I." Minaj was unimpressed. "I'm so disappointed," she said. "I don't know why you chose that song." After he was eliminated, Peachez decided he didn't want to win American Idol, after all. "This isn't the competition for me," he said. "I just don't like singing other people's songs."

5. Big Risks Can Reap Big Rewards
Nick Boddington was eliminated in Las Vegas last season, so he came back determined to take some risks. He accompanied himself on the piano while singing Grace Potter's "Stars." It was a strong performance that the judges loved.

After the dust settled, 28 contestants remained. The judges corralled them onto the stage and announced that they would eliminate eight more male contestants next week, after the ladies' auditions.

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New whooping cough strain in US raises questions


NEW YORK (AP) — Researchers have discovered the first U.S. cases of whooping cough caused by a germ that may be resistant to the vaccine.


Health officials are looking into whether cases like the dozen found in Philadelphia might be one reason the nation just had its worst year for whooping cough in six decades. The new bug was previously reported in Japan, France and Finland.


"It's quite intriguing. It's the first time we've seen this here," said Dr. Tom Clark of the Centers for Disease Control and Prevention.


The U.S. cases are detailed in a brief report from the CDC and other researchers in Thursday's New England Journal of Medicine.


Whooping cough is a highly contagious disease that can strike people of any age but is most dangerous to children. It was once common, but cases in the U.S. dropped after a vaccine was introduced in the 1940s.


An increase in illnesses in recent years has been partially blamed on a version of the vaccine used since the 1990s, which doesn't last as long. Last year, the CDC received reports of 41,880 cases, according to a preliminary count. That included 18 deaths.


The new study suggests that the new whooping cough strain may be why more people have been getting sick. Experts don't think it's more deadly, but the shots may not work as well against it.


In a small, soon-to-be published study, French researchers found the vaccine seemed to lower the risk of severe disease from the new strain in infants. But it didn't prevent illness completely, said Nicole Guiso of the Pasteur Institute, one of the researchers.


The new germ was first identified in France, where more extensive testing is routinely done for whooping cough. The strain now accounts for 14 percent of cases there, Guiso said.


In the United States, doctors usually rely on a rapid test to help make a diagnosis. The extra lab work isn't done often enough to give health officials a good idea how common the new type is here, experts said.


"We definitely need some more information about this before we can draw any conclusions," the CDC's Clark said.


The U.S. cases were found in the past two years in patients at St. Christopher's Hospital for Children in Philadelphia. One of the study's researchers works for a subsidiary of Johnson & Johnson, which makes a version of the old whooping cough vaccine that is sold in other countries.


___


JournaL: http://www.nejm.org


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Stock index futures signal mixed open

PARIS (Reuters) - Stock index futures pointed to a mixed open on Wall Street on Thursday. Futures for the S&P 500 were down 0.05 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures up 0.05 percent at 0933 GMT.


European shares steadied on Thursday as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's views on the region's growth prospects.


Draghi faces a grilling over the euro's sharp rise and his connection to an Italian banking scandal at the ECB meeting where interest rates are almost certain to be unchanged.


Visa Inc's quarterly profit beat analysts' estimates for the ninth consecutive quarter.


Rupert Murdoch's News Corp on Wednesday reported higher quarterly revenue and profit on strong growth at its cable assets including its Regional Sports and FX networks.


Boeing Co is working on battery design changes that would minimize fire risks on its grounded 787 Dreamliner and could have the passenger jet flying again as soon as March, the Wall Street Journal reported.


Green Mountain Coffee Roasters Inc forecast sales growth for the current quarter that is slightly lower than analysts expected as retailers work through unsold inventory of its products after a slower-than-expected holiday season.


Hon Hai Precision Industry Co Ltd , the main manufacturer of Apple Inc products, said on Thursday consolidated January sales dropped 8.19 percent from a year earlier.


A U.S. judge threw out a lawsuit from South Korea's Woori Bank accusing Bank of America Corp's Merrill Lynch unit of misleading investors about the riskiness of collateralized debt obligations, saying the suit had missed a deadline under South Korean law.


CVS Caremark Corp said on Wednesday it bought Drogaria Onofre, Brazil's eighth-largest drugstore chain last week, marking the first time the drugstore and pharmacy services company has ventured outside the United States.


Michael Dell and his investment firm are putting up $750 million in cash toward the $24.4 billion purchase of Dell Inc to help bankroll the largest private equity-backed buyout since the financial crisis.


Yelp Inc posted a bigger-than-expected quarterly loss and its shares fell 6 percent in after-market trading as the consumer review website faces competition from Facebook Inc .


Chipmaker TriQuint Semiconductor Inc forecast current-quarter results below analysts' estimates after some orders were pulled into the fourth quarter, sending its shares down 8 percent.


Allstate Corp's quarterly profit fell 45 percent on losses from superstorm Sandy, but the home and auto insurer said it has paid out about 95 percent of Sandy claims and is seeing rate increases across businesses.


Herbalife Inc disclosed more information on Wednesday about how much its U.S. distributors earn, looking to provide more clarity as it defends its business model from critics like billionaire hedge fund manager Bill Ackman.


On the macro front, investors awaited weekly jobless claims, due at 1330 GMT, as well as quarterly data on productivity and unit labor costs, also due at 1330 GMT.


Among the companies set to report results on Thursday feature Coca-Cola Enterprises , Hasbro, Inc. , Philip Morris International and Sprint Nextel Corp. .


U.S. stocks ended mostly flat on Wednesday, taking another pause in the recent rally that has driven the S&P 500 to five-year highs, as transportation and technology shares lost ground.


The Dow Jones industrial average <.dji> was up 7.22 points, or 0.05 percent, at 13,986.52. The Standard & Poor's 500 Index <.spx> was up 0.83 points, or 0.05 percent, at 1,512.12. The Nasdaq Composite Index <.ixic> was down 3.10 points, or 0.10 percent, at 3,168.48.


(Reporting by Blaise Robinson; editing by Stephen Nisbet)



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Khamenei rejects offer of direct talks with U.S.


DUBAI (Reuters) - Iran's highest authority, Ayatollah Ali Khamenei, on Thursday rejected an offer of direct talks made by U.S. Vice President Joe Biden this week, saying they would not solve the problems between them, Iranian media reported.


"Some naive people like the idea of negotiating with America, however, negotiations will not solve the problems," Khamenei said in a speech to officials and members of Iran's aerospace force, IRIB reported.


"If some people want American rule to be established again in Iran, the nation will rise up to face them," he said.


"American policy in the Middle East has been destroyed and Americans now need to play a new card. That card is dragging Iran into negotiations."


Khamenei made his comments just days after Joe Biden said the United States was prepared to meet bilaterally with the Iranian leadership. "That offer stands but it must be real and tangible," Biden said in a speech in Munich.


Relations between Iran and the United States were severed in 1979 after the overthrow of Iran's pro-western monarchy and diplomatic meetings between officials have since been very rare.


Currently U.S.-Iran contact is limited to talks between Tehran and a so-called P5+1 group of powers on Iran's disputed nuclear program which are to resume on February 26 in Kazakhstan.


Many believe no deal on settling the nuclear issue is possible without a U.S.-Iranian thaw. But any rapprochement would require direct talks addressing many sources of mutual mistrust that have lingered since Iran's 1979 Islamic Revolution and the subsequent U.S. embassy hostage crisis in Tehran.


Moreover, although his re-election last November may give President Barack Obama a freer hand to pursue direct negotiations, analysts say Iran's own presidential election in June may prove an additional obstacle to progress being made.


(Reporting By Marcus George; Editing by Jon Boyle)



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Tablets accounted for over a third of PC shipments in Q4






Tablets have continued to bleed the traditional PC market dry. The latest numbers from research firm Canalys revealed that tablets accounted for over a third of PC shipments in the fourth quarter of 2012. Worldwide PC shipments were found to have increased 12% year-over-year to 134 million units with 46.2 million units qualifying as tablets, a 75% year-over-year increase. Apple (AAPL) continued to lead the industry thanks to strong iPad sales, shipping 27 million units and taking a 20% share of the market for the first time. The iPad mini was a hit for the company and accounted for more than half of Apple’s total iPad shipments. Due to supply issues and cannibalization of the larger iPad, however, Apple’s tablet share dropped below 49% and for the first time the company did not control over half the tablet market.


[More from BGR: Microsoft Surface Pro review]






“Apple timed the launch of the iPad mini well,” said Pin-Chen Tang, a research analyst with Canalys. “Its success proves there is a clear demand for pads with smaller screens at a more affordable price. Without the launch, Apple would surely have lost more ground to its competitors.”


[More from BGR: Microsoft defends Surface Pro’s 4-hour battery life and low available storage]


Samsung (005930) also experienced strong tablet sales and found itself in a top five position for the first time in overall PC sales, sitting only behind Apple, HP (HPQ), and Lenovo (LNVGY). The company’s Galaxy tablet shipped 7.6 million units, a year-over-year increase of 226%, and its notebook computers shipped 4.1 million units for a 9% share of the PC market.


Amazon (AMZN) was found to have increased its worldwide shipments by 18% to 4.6 million units due to an expanded Kindle Fire lineup and sales in additional markets. Google’s (GOOG) Nexus 7 and Nexus 10 tablet also “performed relatively well” and shipped a combined 2.6 millin units in the fourth quarter.


It has now become a requirement for Android vendors to target low price points if they are interested in increasing their shipments. The success of Amazon, Samsung, and Google has helped Android’s tablet market share increase to 46%.


“The sub-$ 200 price bands now feature products from established players that do not rely on low-quality components,” said Tom Evans, a Canalys analyst. “Those who control ecosystems, such as Amazon and Google, can obtain revenue from content sales, but pure hardware OEMs must accept decreasing margins or exit.”


The research firm found that shipments of Microsoft’s (MSFT) Surface RT tablet are off to a shaky start with shipments of only 720,000 units in Q4.


“The outlook for Windows RT appears bleak. Hardware OEMs are ignoring it due, in part, to a pricing strategy that does not align with the economics of the pad market,” said Tim Coulling, a Canalys senior analyst.


The analyst added that he expects Microsoft to “rethink its pricing strategy for RT in the coming weeks,” and said that the company should drop the price of the operating system by 60% to get “OEMs back onside.” He believes that Microsoft will have a better chance of turning Windows RT around if it increases manufacturer support, and figures out a strategy to educate consumers and attract new developers.


This article was originally published on BGR.com


Gadgets News Headlines – Yahoo! News





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Bethenny Frankel's 'Happy' Night Out in N.Y.C.















02/07/2013 at 06:00 AM EST







Bethenny Frankel


Justin Steffman/Splash News Online


It's business as usual for Bethenny Frankel.

The reality TV star stepped out for dinner at Indochine in New York on Monday night.

Dressed all in black, the "very chic"-looking Skinnygirl mogul dined at a table in the center of the restaurant with a gentleman around 8 p.m.

But although the evening "didn't look romantic," an onlooker tells PEOPLE, Frankel, who recently separated from husband Jason Hoppy, "did look refreshed and happy to be out and about."

As Frankel and her companion – a middle-aged balding man – enjoyed their meals, the pair was "deep in conversation that looked fairly serious," the source adds. "She seemed very focused on whatever they were discussing."

– Jennifer Garcia


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Critics seek to delay NYC sugary drinks size limit


NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.


With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.


"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.


City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.


"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.


Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.


Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.


"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.


Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.


While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.


Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.


Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.


___


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