শুক্রবার, ৩০ নভেম্বর, ২০১২

Croatia's teachers, nurses strike against budget cuts

ZAGREB (Reuters) - Croatia's teachers and nurses staged a one-day strike on Thursday, the first major protest against austerity measures in the country that will join the European Union next year, while Fitch affirmed Croatia's rating but downgraded its outlook.

Unions said more than 70,000 out of some 100,000 people working in schools, universities and hospitals joined the strike over reduced bonuses and wage cuts announced for 2013.

The year-old center-left government canceled a collective agreement with public sector unions earlier this year in an effort to renegotiate contract terms and said it would cut 2.3 billion kuna ($393 million) from the wage bill next year.

The government is trying to consolidate the public finances and revive the economy that is now in a fourth year of recession.

The budget deficit will be reduced to 3.5 percent of gross domestic product this year from 4.4 percent last year, but for next year the deficit is seen rising to 3.8 percent due to the costs of EU accession, higher loan repayment costs and restructuring of the ailing shipbuilding industry.

Croatia is scheduled to join the EU in July.

Teachers have threatened new strikes towards the end of this school year if the government does not reverse its plans for education cuts.

Croatia's efforts to consolidate public finances have helped it preserve its investment grade, which is just a notch above speculative status.

However, the Fitch rating agency downgraded Croatia's outlook on Thursday to negative from stable, citing a milder fiscal consolidation path than previously announced.

The other two main rating agencies also have a negative outlook for Croatia.

(Reporting by Igor Ilic; Editing by Jon Hemming)

Source: http://news.yahoo.com/croatias-teachers-nurses-strike-against-budget-cuts-151224555--business.html

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Ruling in Concorde crash appeal expected Thursday

VERSAILLES, France (AP) ? A French appeals court is set to decide Thursday whether to uphold a manslaughter conviction against Continental Airlines for the July 2000 crash of an Air France Concorde that killed 113 people.

The crash led to the Concorde program, a synonym for luxury but a commercial failure despite its high speed and advanced technology, to be taken out of service in 2003. Air France and British Airways had jointly operated the program.

In the 2000 accident, the jet slammed into a hotel near Paris' Charles de Gaulle airport soon after taking off, killing all 109 people aboard and four others on the ground. Most of the victims were Germans heading to a cruise in the Caribbean.

A French court initially convicted Continental Airlines Inc. and one of its mechanics in 2010 for the crash of the Air France Concorde, and imposed about ?2 million ($2.7 million) in damages and fines on the carrier.

The lower court ruled that the mechanic fitted a faulty metal strip on a Continental DC-10 that fell onto the runway, puncturing the Concorde's tire, sending bits of rubber into the fuel tanks and starting the fire that brought down the plane.

Continental merged with United in 2010 and the new company is called United Continental Holdings Corp.

Source: http://news.yahoo.com/ruling-concorde-crash-appeal-expected-thursday-075126195.html

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Why Promise Rings are Back in Fashion - Merry Relationships

Promise Rings are Back in Fashion

Imagine if there was a step between being in a relationship and being engaged. Imagine if there was a ring you could give before engagement, confirming you are serious about your partner but also avoiding committing to a marriage or initiating a discussion about dates, a pre-engagement ring.

It would save a lot of the pressure and expectation surrounding engagement rings, while still providing an opportunity for couples to show how much they love each other, despite not being ready to officially tie the knot and set the date.

Promise rings have been around for centuries. With their quaint association with young love and as-yet unfulfilled marriage, the rings symbolise everything that makes falling in love worth it in the first place; the dizzying excitement of knowing that you?re in this together, regardless of how few worldly goods you might have between you right now.

During Shakespeare?s time, promise rings took on the mantle of ?Posey? rings and were often engraved with sayings such as: ?vous et nul autres? (you and no others) and other sweet pledges of monogamy. As a very literal precursor to marriage for those who could ill-afford it at the time, the giving of promise rings was a serious business.

Despite the relative disappearance of the ritual in modern times, the rings are set to return. In a recent study it seems the age group for exchanging promise rings is anywhere from 15-25 and they are normally given after a year of being in a monogamous relationship.

The last few years? financial down-turn has seen a prolonged vintage trend emerge that has caused the resurrection of many traditional practices and aesthetics. The comfort and nostalgia of the past being an irresistible combination in darker times.

And rightly so. There is something lovely in the innocence of the promise ring; lacking the cynicism that inevitably creeps in as we get older. Another great thing about them is that they can come in any form you like.

Although sterling silver with optional semi-precious stone is the most common, the options for personalisation in the form of engravings, designs and materials are numerous.

The rings can be worn by both men and women, and with all the current styles available, they can be a fun way to show how you feel without the looming responsibility of an oncoming wedding to plan.

With couples deciding to marry later than ever, it seems only natural that the promise ring should take on an increasing significance in recent times.

So if you feel the itch to commit but your pockets are a little light right now, why not consider a promise ring? It?s still a sign of commitment and mutual love, without some of the pressure and expectation that comes with exchanging engagement rings.

When they get married some couples will simply replace or modify their promise rings with additional details, engravings or extra gemstones. Alternatively the promise rings could become keepsakes or could be melted down and remolded to make wedding or engagement rings.

Laura King writes on a number of subjects including bespoke jewellery and promise rings.

Source: http://www.merryrelationships.com/promise-rings/

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Wing Will Lead Microsoft Research International



Wing Will Lead Microsoft Research International

Jeannette Wing will step down as head of the Computer Science Department to join Microsoft Research in January. She will be Vice President, Head of Microsoft Research International, with responsibilities for research laboratories in Bangalore, India; Cambridge, UK; and Beijing, China.

A leading figure in computer science research, particularly in formal methods, security and privacy, Wing joined the Carnegie Mellon faculty in 1985 and served in several academic leadership positions before becoming head of CSD in 2004. From 2007-2010, she served as Assistant Director of the Computer and Information Science and Engineering Directorate at the National Science Foundation, where she led the directorate that funds academic computer science research in the United States.

In a statement released by Microsoft, Chief Research Officer Rick Rashid called Wing "a leading light in the computer science research community," citing her contributions at CMU and NSF.

In addition to her research, Wing has championed the concept of computational thinking, which draws on fundamental concepts of computer science to solve problems, design systems and understand human behavior, and advocated that it be incorporated broadly into educational programs. She launched a Center for Computational Thinking at Carnegie Mellon and established funding programs at the NSF to advance computational thinking.

"Jeannette has been an important contributor to computer science at CMU," said Randy Bryant, dean of the School of Computer Science. "Needless to say, we will miss Jeannette's energy and thoughtful leadership, but all of us wish her the best at Microsoft. I thank her for her many contributions to Carnegie Mellon."

Bryant said he will name an interim CSD head and will form a committee to identify Wing's successor. He expects a new department head to be in place this spring.

Contact:

Byron Spice
412-268-9068
bspice@cs.cmu.edu

Source: http://news.cs.cmu.edu/article.php?a=3415

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Adopting Mobile Cloud Accounting Technology into the Financial ...


find a cloud-based accounting and finance system that allows you to work on the go

How technology has affected the financial department in organisations?
Theres no doubt that new cloud technology has had an incredible impact on todays workplaces, particularly those who work in, or are involved with the financial aspects of an organisation. Over the last few decades, new and different technology has been injected into the workplace at an ever increasing rate. One of these is the use of the mobile device.

Smart phones, netbooks, iPads and other such tablets detach us from our desks and give us the freedom to roam with our work. Imagine using a cloud-based accounting and finance system. This would allow you to review budgets or produce financial reports from the garden, a taxi, or even on holiday. Having access to your financial data and information, whenever is suitable for you and wherever you are, cant be a bad thing for business.

Managing the accounting and finance function on the go
Most businesses have adopted mobile technology in some way or another, as its hard to ignore the lure of the high mobility and other strengths that come with cloud computing, particularly for accounting and finance professions. Smart phones started this revolution, and they are now an important device for the hard working professional. But now, the tablet device has enhanced our mobile experience even more. Theres more mobility offered than we get with laptops, and the screen is bigger than you get with smart phones, making it all the more easier to view and analyse your financial budgets, reports, expenditure, etc

Tablets enhance user experience
How many times have you been in a finance or board meeting and someone has requested some information that you can only provide once youre back at your desk? Well, with a tablet or any mobile device its right at your fingertips. It can be discussed straightaway, a decision taken and communicated to the business without you leaving your meeting.

With easy access to email, calendar and contacts built in to most devices, the most simple business functions are now easy to get up and running in a few easy steps. Add on many of the freely available apps and you have a fully functioning business tool.

Where next?
All mobile devices are tools that should ultimately enable, not disable business. So if you find a cloud-based accounting and finance system that allows you to work on the go, and allow other people access to the information they need without needing your help, then the way organisations are run can change for the better.

If you enjoyed this article or found it useful, please share it with your friends on Facebook, Twitter or Google+

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Source: http://www.contentcaboodle.com/computers-and-technology/software/adopting-mobile-cloud-accounting-technology-into-the-financial-workplace.html

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মঙ্গলবার, ২৭ নভেম্বর, ২০১২

Euro zone to seek Greek aid deal without write-off

BRUSSELS (Reuters) - Euro zone finance ministers and the International Monetary Fund began their third attempt in as many weeks to release emergency aid for Greece on Monday, with policymakers saying a write-down of Greek debt is off the table for now.

Greek Finance Minister Yannis Stournaras voiced confidence the ministers would finally reach a deal after Greece had fulfilled its part of the deal by enacting tough austerity measures and economic reforms.

"I'm certain we will find a mutually beneficial solution today," he said on arrival for what was set to be another marathon meeting.

Greece, where the euro zone's debt crisis erupted in late 2009, is the currency area's most heavily indebted country, despite a big "haircut" this year on privately-held bonds. Its economy has shrunk by nearly 25 percent in five years.

EU Economic and Monetary Affairs Olli Rehn said it was vital to disburse the next 31 billion euro tranche of aid "to end the uncertainty that is still hanging over Greece". He urged all sides to "go the last centimeter because we are so close to an agreement".

Greece had met international lenders' conditions and "Now it is delivery time for the Eurogroup and the IMF," Rehn said.

Negotiations have been stalled over how Greece's debt, forecast to peak at almost 190 percent of gross domestic product next year, can be cut to a more sustainable 120 percent within 8-10 years.

Without agreement on how to reduce the debt, the IMF has held up payments to Athens because there is no guarantee of when the need for emergency financing will end.

The key question is: Can Greek debt become sustainable without the euro zone writing off some of the loans to Athens?

IMF Managing Director Christine Lagarde said on arrival that the solution must be "credible for Greece". The IMF argues that the debt can only be made sustainable if euro zone governments write off some of their loans to Athens, but Germany and its northern European allies have so far rejected any such idea.

DEBT RELIEF "NOT ON TABLE"

Two European Central Bank policymakers, vice-president Vitor Constancio and executive board member Joerg Asmussen, said debt forgiveness was not on the agenda for now.

"It has been clearly stated. It is not on the table. Everything else is just rumors," Constancio told reporters in Berlin.

Asmussen told Germany's Bild newspaper the package of measures would include a substantial reduction of interest rates on loans to Greece and a debt buy-back by Greece, funded by loans from a euro zone rescue fund.

So far, the options under consideration include reducing interest on already extended bilateral loans to Greece from the current 150 basis points above financing costs.

How much lower is not yet decided -- France and Italy would like to reduce the rate to 30 basis points (bps), while Germany and some other countries insist on a 90 bps margin.

Another option, which could cut Greek debt by almost 17 percent of GDP, is to defer interest payments on loans to Greece from the EFSF, a temporary bailout fund, by 10 years.

The European Central Bank could forego profits on its Greek bond portfolio, bought at a deep discount, cutting the debt pile by a further 4.6 percent by 2020, a document prepared for the ministers' talks last week showed.

Not all euro zone central banks are willing to forego their profits, however, the German Bundesbank among them.

Greece could also buy back its privately-held bonds on the market at a deep discount, with gains from the operation depending on the scope and price.

But the preparatory document from last week said that the 120 percent target could not be reached in 2020, only two years later, unless ministers accept losses on their loans to Athens, provide additional financing or force private creditors into selling Greek debt at a discount.

The latest analysis for the ministers showed the debt could come down to 125 percent of GDP in 2020, one euro zone official with insight into the talks said.

FORGIVING OFFICIAL LOANS?

To cut the debt more boldly, the IMF wants the euro zone to forgive Greece some of the official loans, in what is called Official Sector Involvement (OSI) in EU jargon.

On Monday, the biggest battle is likely to be over just that.

"OSI is at the core of the problems with reaching a deal," one euro zone official with insight into the talks said.

German central bank governor Jens Weidmann has suggested that Greece could "earn" a reduction in debt it owes to euro zone governments in a few years if it diligently implements all the agreed reforms. The European Commission backs that view.

An opinion poll published on Monday showed Greece's anti-bailout SYRIZA party with a four-percent lead over the Conservatives who won election in June, adding to uncertainty over the future of reforms.

German paper Welt am Sonntag said on Sunday that euro zone ministers were considering a write-down of official loans for Greece from 2015, but gave no sources and a euro zone official said such an option was never seriously discussed.

"It will be touch-and-go if we get a deal on Greece on Monday," a senior euro zone official said. "Euro zone countries have made concessions worth a lot of money already, so it is difficult to see how this can move even further."

French Finance Minister Pierre Moscovici said on Sunday that euro zone ministers made big progress to reach a common position during at a conference call on Saturday in preparation for their talks with the IMF on Monday.

"I will go with a firm determination, with a mandate from the president and prime minister, to reach a conclusion," Moscovici said. "We are very close to a solution.

Moscovici mentioned the reduction of interest on bilateral loans, foregoing ECB profits on Greek bonds and the debt buy-back as the options that would need to be applied for a deal as well as additional financing for Athens to keep it funded until 2016, rather than only until 2014.

(Additional reporting by Robert-Jan Bartunek, Ethan Bilby, Luke Baker in Brussels, Reinhardt Becker in Berlin, Astrid Wendlandt in Paris; Writing by Jan Strupczewski and Paul Taylor; editing by Philippa Fletcher)

Source: http://news.yahoo.com/euro-zone-imf-seek-greece-deal-debt-write-055911326--business.html

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রবিবার, ২৫ নভেম্বর, ২০১২

Car Finance ? Getting The Most Out Of Your Payday Loans

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Source: http://yumiwa.com/getting-the-most-out-of-your-payday-loans/

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Video: Matthews: Will President Obama dare to be great?

Dudes, don't forget the point of Movember

??What's the benefit of growing a mo, besides the sweet Facebook photo opps? Well, your 'stache will start conversations, and that's the point. When people ask you about your stubble, ask them about their junk. Seriously. Especially your dad. And while you're at it, use your mustache as an excuse to talk to your doctor about

Source: http://www.msnbc.msn.com/id/3036697/vp/49861051#49861051

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বৃহস্পতিবার, ১ নভেম্বর, ২০১২

Sandy takes a nasty bite out of NYC infrastructure

Justin Lane / EPA

A police officer crosses over police tape at a closed subway station on Tuesday after Sandy drenched New York City.

By James Eng, NBC News

Updated at 9:16 p.m. ET: The unprecedented surge from Sandy?s floodwaters took a bite out of the core of the Big Apple's infrastructure, knocking out power to electrical substations and crippling a subway system used daily?by more than 4 million people.

The storm?s impact should be a wake-up call that the city ? and the rest of the nation ? needs to better prepare for the dangers of the coastal flooding, which is likely to become more frequent in the decades ahead, experts say.


For now, the loss of power and a way to get around adds up to a major headache for many New Yorkers, and a hazard to some.

?The work of getting our mass transit grid and our power grid restored ? is going to take more time and a lot of patience,? New York Mayor Michael Bloomberg said at a Tuesday morning?press conference. ?Our administration will move heaven and earth to help them.?

New York City's Mayor Michael Bloomberg says that at least 10 people were killed during Sandy and the storms' "path of destruction will be felt for some time."

New York?s subway system, one of the largest ? and oldest ? mass-transit systems in the world, was shut down Monday in advance of the superstorm.

Bloomberg said Tuesday it could be ?a good four or five days? before subways are back up and running, though Metropolitan Transit Authority Chairman Joseph Lhota cautioned it's?too early to say how long it will take to restore full service.?

Floodwaters swamped at least seven subway tunnels under the East River, and transit officials called the damage unprecedented.

?The New York City subway system is 108 years old, but it has never faced a disaster as devastating as what we experienced last night,? Lhota said in a statement. ?Hurricane Sandy wreaked havoc on our entire transportation system, in every borough and county of the region. It has brought down trees, ripped out power and inundated tunnels, rail yards and bus depots.?

Nearly 14 feet of water rushed into lower Manhattan, shorting out the ConEd power station and destroying cars and homes. As a result, the city's subway system will remain out of service for several more days as cleanup begins. NBC's Anne Thompson reports.

Bloomberg said the advance shutdown and the MTA?s temporary moving of much of its ?rolling stock? of trains to higher ground may have spared the system from even more serious damage.

But the immediate fix for the flooded system isn?t simply pumping water out of the tunnels.

Unlike rainwater, the corrosive saltwater whipped up by Sandy could damage much of the subways? electrical parts and equipment, says Radley Horton, an associate research scientist with the Center for Climate Systems Research at Columbia University.

Reuters

A boat rests on tracks at Metro-North's Ossining Station on the Hudson Line on Tuesday in the aftermath of Hurricane Sandy, in New York.

?Saltwater and electricity don?t mix. Even after that water is removed, it?s going to take some time to replace the electrical equipment, test signals, that sort of thing,? Horton says.

In a statement released Tuesday night, MTA Chairman Joseph Lhota cited "unprecedented challenges" the transportation authority faces as it tries to restore service, including flooding "up to the ceiling in the city's South Ferry subway station and? 43 million gallons of water in each tube of the Hugh L. Carey Tunnel.

Lhota said city buses are back on the road for limited service and will almost be at normal strength by morning.

Other potentially serious infrastructure damage wrought by Sandy, according to Horton:

  • Electrical generation ? Some major distribution points were reported out. Con Edison said Tuesday that 780,000 homes and business lost power.?The utility?cut electricity to some areas to save its equipment and a transformer exploded at a plant on 14th Street in Manhattan, blacking out others.?Con Ed officials called the power failures ?the largest storm-related outage in our history.?
  • Wastewater treatment plants ? New Yorkers rely on these facilities to treat sewage and wastewater from homes and businesses before releasing it into waterways surrounding the city.?Located at sites around the city, many of these plants were overwhelmed during Hurricane Irene last year.

Many of the city?s major roadways and bridges seem to have escaped catastrophic damage. Gov. Andrew Cuomo announced that five of the MTA?s seven bridges were fully inspected and reopened at noon on Tuesday. The two Rockaway bridges, Cross Bay Veterans Memorial and Marine Parkway-Gil Hodges bridges, and the Hugh L. Carey and Queens Midtown Tunnel remain closed. Buses were being phased back into service, with a?full schedule expected for Wednesday.?

Andrew Burton / Getty Images

Superstorm Sandy made landfall Monday evening on a destructive and deadly path across the Northeast.

Authorities were?still assessing damage to New York's three major airports, and?thousands of flights were canceled across the Northeast.?"We are focused on reopening as quickly as possible. But we will not compromise safety," Pasquale DiFulco, a spokesman for the Port Authority, told Reuters. "We need to walk the runways and make sure there's no debris."

The damage was so severe that Sandy should serve a wake-up call to cities around the world about the extreme threat posed by coastal flooding, scientists say.

Klaus Jacob, a geophysicist and senior research scientist at Columbia University, told PRI?s The World:

?We had one wake-up call last year under the name of Irene. We got away with less than we will most likely incur from Sandy,? says Jacob. ?The question is how many wake-up calls do we need to get out of our snoozing, sleeping, dreaming morning attitude? We have to get into action. We have to set priorities and spend money. For every one dollar invested in protection you get a return of four dollars of not-incurred losses.?

Horton, who was on a blue-ribbon commission that in 2009 examined the MTA and environmental sustainability, said one of the report?s main recommendations was to focus on flexible approaches in adapting to climate hazards.

?In some ways this is the greatest transit system in the world, but I think we?re in uncharted waters,? Horton told NBC News.

Insurance may soften blow of Sandy's economic hit?

?I hope this storm is a wake-up call not just to our region ?. but also nationally to help get adaptation on the map and help people understand the extent to which sea level rise will increase the frequency of coastal flooding events,? Horton said.

?Even if storms do not become stronger in the future and we get a relatively small amount of sea level rise, the frequency of coastal flooding events may triple by end of this century simply because the average sea level will be higher.?

New York Gov. Andrew Cuomo agreed that officials need to think about ways to better protect the nation's most populous city from storms that have been increasing in both intensity and frequency.

?We have to resist the temptation for people to say, 'This is a once-in-a-100-years event; let?s just fix it and move forward,?? Cuomo was quoted as saying.

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Source: http://usnews.nbcnews.com/_news/2012/10/30/14808701-sandy-leaves-nyc-subway-system-infrastructure-licking-its-wounds?lite

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