Latest News Clipping 2011.09.01

Tripoli Divided as Rebels Jostle to Fill Power Vacuum

    August 30, 2011

TRIPOLI, Libya — Fighters from the western mountain city of Zintan control the airport. The fighters from Misurata guard the central bank, the port and the prime minister’s office, where their graffiti has relabeled the historic plaza “Misurata Square.” Berbers from the mountain town Yafran took charge of the city’s central square, where they spray-painted “Yafran Revolutionaries.”

A week after rebels broke into Col. Muammar el-Qaddafi’s former stronghold, much of its territory remains divided into fiefs, each controlled by quasi-independent brigades representing different geographic areas of the country. And the spray paint they use to mark their territory tells the story of a looming leadership crisis in the capital, Tripoli.

The top civilian officials of the Libyan rebels’ Transitional National Council — now styling itself as a provisional government to be based in the capital — are yet to arrive, citing personal safety concerns even as they pronounce the city fully secure.

2.  Aging Baby Boomers May Curb U.S. Expansion

Aug. 30, 2011

This is not your mother’s recovery.

Women and baby boomers entering the American workforce after 1950 helped to supercharge expansions in 1975 and 1983 by filling an increasing number of jobs and purchasing more goods and services. Now as the share of women with jobs falls and older Americans age into retirement, the shrinking -- or, at best, slowly growing -- workforce will weaken economic activity for the next two decades.

The demographic changes may be the biggest and least- appreciated reason why the two-year recovery has slowed, because the rate of growth for labor and capital is “the most important determinant” of economic expansion, said James Paulsen, chief investment strategist for Wells Capital Management in Minneapolis.

More retirees mean slower household formation, reduced consumer spending and downward pressure on equity prices as retirement cuts people’s purchasing power, according to John Lonski, chief economist at Moody’s Capital Markets Group in New York, and Gus Faucher, director of macroeconomics at Moody’s Analytics Inc. in West Chester, Pennsylvania.

3.  Sony, Toshiba, Hitachi to Unload LCD Units to Japan Government-Backed Fund

Aug 31, 2011

Sony Corp. (6758), Toshiba Corp. (6502) and Hitachi Ltd. (6501) agreed to divest their liquid-crystal display businesses to a government-backed fund amid mounting competition from South Korean and Taiwanese producers.

The companies will spin off and merge the units to create Japan Display K.K. next year, the three Tokyo-based electronics makers said today. The government-backed Innovation Network Corp. of Japan will own 70 percent of the venture after a 200 billion yen ($2.6 billion) investment, while Sony, Toshiba and Hitachi will split the remaining 30 percent, they said.

The deal may create the world’s biggest maker of LCDs for mobile phones and cameras as Japanese companies struggle to compete against Korea’s Samsung Electronics Co. and Taiwan’s Chimei Innolux Corp. (3481) in the larger market for television displays. Sony and Hitachi are unprofitable in LCDs, while Toshiba ended losses at its display division last fiscal year.

4.  Japan's new leader: A snowball's chance?

      CNN    Aug. 30, 2011

(CNN) -- In his acceptance as elected leader of the ruling Democratic Party, Japan's new Prime Minister Yoshihiko Noda likened his nation's political plight as a snowball falling fast downhill.

"Running Japan's government is like pushing a giant snowball up a snowy, slippery hill," he said. "In times like this, we can't say, 'I don't like this person,' or 'I don't like that person.' The snowball will slide down."

A snowball doesn't stand much chance in Japan these days. As travelers who step off at Narita International Airport immediately notice, things are toasty in Tokyo. The loss of power supply in the wake of the Fukushima nuclear disaster has the government asking businesses to cut electrical consumption by 15% and set temperatures inside public buildings like the Narita terminal at a balmy 28 degrees Celsius (82.4 degree Fahrenheit).

Beyond the heat of power problems and rebuilding from the devastating March 11 earthquake and tsunami, the 54-year old takes leadership of a nation that

has been economically stuck in a decades-long malaise -- saddled with a huge public debt that's being dragged down by the world's fastest aging population and exacerbated by a strong yen, which is hurting profits of Japan's export powerhouses like Toyota and Sony.

5.  ExxonMobil clinches Arctic oil deal with Rosneft

Under the deal, Exxon and Rosneft will invest $3.2bn (£1.9bn) in developing the Arctic Kara Sea

30 August 2011

ExxonMobil's joint venture with Rosneft has dashed any hopes that BP had of reviving its deal with Rosneft that was blocked in May.

Exxon, the world's largest company, and Rosneft signed a deal to develop oil and gas reserves in the Russian Arctic, opening up one of the last unconquered drilling frontiers.

The deal, signed in the presence of Russian prime minister Vladimir Putin, dashes any hopes that BP had of reviving its own deal with Rosneft that was blocked in May by its billionaire partners in an existing Russian venture.

Exxon boss Rex Tillerson and Russia's top energy official deputy prime minister Igor Sechin were with Putin at the signing ceremony in the Black Sea resort of Sochi.

Calling the deal a "truly strategic partnership" and hailing Exxon's experience in exploiting Arctic reserves in Canada, Putin said: "New horizons are opening up. One of the world's leading companies, ExxonMobil, is starting to work on Russia's strategic shelf and deepwater continental shelf," Putin said.

Lastest news clipping 2011.08.25

1.  Rebels launch siege on Gadhafi compound

    CNN    Aug. 23, 2011

Tripoli, Libya (CNN) -- Libyan rebels surrounded Moammar Gadhafi's compound in Tripoli Tuesday, entering one of the gates and "attacking furiously," a rebel official told CNN.

As rebel fighters battled forces loyal to the Libyan leader, NATO also "hit some targets," said Mahmoud Shammam, minister of information for the National Transitional Council.

A CNN crew at a hotel nearby heard ferocious clashes and loud explosions coming from the compound, likely the sound of artillery shells being exchanged.

2.  Hearing set after DA seeks to drop case against Strauss-Kahn

     CNN    Aug. 23, 2011

New York (CNN) -- The attorney for the woman who accused Dominique Strauss-Kahn of sexually assaulting her went on the offensive from Paris Tuesday, with an urgent plea for the disqualification of Manhattan District Attorney Cyrus Vance.

Attorney Douglas Wigdor's news conference came just hours before a judge in New York was to consider a prosecution request to drop the charges against the former chief of the International Monetary Fund, citing questions about Nafissatou Diallo's credibility. A motion filed Monday by Wigdor's law partner, Kenneth Thompson, to disqualify Vance and appoint a special prosecutor, was rejected Tuesday by a judge.

"For the district attorney to now dismiss this case or seek to dismiss this case and turn his back on this victim because of so-called credibility issues is an affront not only on Ms. Diallo but an affront on all victims and sexual victims who come forward in the future," Wigdor said.

A "mountain of physical evidence" points toward a violent sexual assault during a 9-minute period inside Strauss-Kahn's New York hotel suite in May, Widgor told reporters in France, where he is gathering evidence for a civil lawsuit against the French citizen and onetime contender for that nation's presidency.

Prosecutors filed a "recommendation for dismissal" in the case Monday, noting more questions about Diallo's credibility.

"The nature and number of the complainant's falsehoods leave us unable to credit her version of events beyond a reasonable doubt, whatever the truth may be about the encounter between the complainant and the defendant," the document states. "If we do not believe her beyond a reasonable doubt, we cannot ask a jury to do so."

Prosecutors voiced concern that the case appeared to rest exclusively on the housekeeper's account, predicting her "falsehoods" would be "devastating" if revealed during a trial. They claim she "has not been truthful in matters great and small," including lying about a "gang rape, as well as other details about her life in (her native) Guinea."

3.  Stocks may recover. But don't expect much.

CNN     August 22, 2011

Despite the recent turmoil that has pushed major stock indexes into the red for the year, Wall Street experts are hopeful that the market will soon turnaround.

NEW YORK (CNNMoney) -- The major stock indexes are now down for the year thanks to the turmoil this August, but Wall Street experts are optimistic that the market will stage a comeback soon.

Investment strategists and money managers expect the S&P 500 will rally back almost 20% before the year is over, according to an exclusive CNNMoney survey. They expect the index to finish at 1,349, 7% higher than the start of the year.

In fact, only one of the 17 experts surveyed by CNNMoney thinks the S&P 500 finish in the red in 2011.

While strategists are calling for a pretty stellar run for the last four months of the year, they aren't as optimistic as they were just two months ago. In June, they were forecasting the S&P 500 to end 2011 with double-digit gains and hit 1,382. That would be a three-year high.

So what's changed?

"There's no doubting that we've entered into a much slower growthenvironment," said Tyler Vernon, Biltmore Capital chief investment officer. "And along with that, our debt has been downgraded and Europe's debt situation has gotten worse. It's really been a perfect storm for a market sell-off in fear."

But, he added that there is at least one constant amid all the uncertainty: corporate profits are still healthy.

"Company balance sheets have stayed really lean and mean since the last financial crisis," said Vernon, whose year-end target for the S&P 500 is right in line with the consensus estimate of 1,349. "Companies haven't hired and profit margins are the highest they've been in history, so they should continue to do fairly well even through this rough patch."

Those sound fundamentals should be enough to bring investors back into the market, especially considering the steep discount stocks are trading at after the recent slides. But Vernon thinks the Federal Reserve will also step in to help give Wall Street a boost.

"It may just be in rhetoric, but I think the Fed has some bullets left, and going into an election year, I think there will be some pressure on Ben Bernanke to keep this market afloat," he said.

必懂經濟指標

1. 公債殖利率:
   義大利、西班牙十年期公債值利率7%
2. VIX恐慌指數
    20~30正常
3. 制造業採購經理人指數(PMI)
    美歐中都不能低於50
4. 消費者物價指數(CPI)年增率
    用來判斷通膨狀況每月第三周公布
5.BDI波羅的海指數
   要回到一千五以上
6.CRB商品指數
 

News Clipping 2011.07.14

The New York Times    July 7, 2011

ON May 16, the United States hit its legal debt limit of $14.3 trillion. Unless that limit is raised, the Treasury will, on Aug. 2, be unable to pay its bills. It will then have to either stop spending money on government programs, or default on paying the nation’s creditors.

The White House and Congressional Republicans agree in principle that the debt ceiling needs to be raised, but they are at an impasse on how to constrain the deficit’s rapid growth. Meanwhile, some people have theorized that there’s a way to get around the debt limit.

Several law professors and senators, and even Treasury Secretary Timothy F. Geithner, have suggested that section 4 of the 14th Amendment, known as the public debt clause, might provide a silver bullet. This provision states that “the validity of the public debt of the United States, authorized by law ... shall not be questioned.” They argue that the public debt clause is sufficient to nullify the ceiling — or can be used to permit the president to borrow money without regard to the ceiling.

Both approaches provide the false hope of a legal answer that obviates the need for a real solution.

2.  How Seawater Can Power the World

The New York Times    July 10, 2011

DEBATE about America’s energy supply is heating up: gas prices are rising, ethanol is under attack and nuclear power continues to struggle in the shadow of the Fukushima disaster in Japan.

But an abundant, safe and clean energy source once thought to be the stuff of science fiction is closer than many realize: nuclear fusion. Making it a reality, however, will take significant investment from the government at a time when spending on scientific research is under threat.

Harnessing nuclear fusion, the energy that powers the sun and the stars, has been a goal of physicists worldwide since the 1950s. It is essentially inexhaustible and it can be created using hydrogen isotopes — chemical cousins of hydrogen, like deuterium — that can readily be extracted from seawater.

Fusion energy is created by fusing two atomic nuclei, in the process converting mass to energy, which appears as heat. The heat, as in conventional nuclear fission reactors, turns water into steam, which drives turbines to generate electricity, or is used to produce fuels for transportation or other uses.

Fusion energy generates zero greenhouse gases. It offers no chance of a catastrophic accident. It can be available to all nations, relying only on the Earth’s oceans. When commercialized, it will transform the world’s energy supply.

3.  Yao Ming's lost legacy

CNN     July 11, 2011

He entered the NBA with a promise like few others. Yao Ming brought a rare combination of talent and the ability to unlock a massive new market for the sport. Nine years later, reports say Yao is set to retire. And despite his best efforts, the sad truth is his career wasn’t what it could have been.

Yao could have been the NBA’s next great center. The NBA has a long history of dominant big men leading their teams to the title, from George Mikan in the 50s, to Bill Russell, Wilt Chamberlain, Kareem Abdul-Jabaar, Hakeem Olajuwon, and Shaquille O’Neal. Yao was drafted at the height of Shaq's dominance in 2002, but he had the tools to take him on.

Shaq’s strength and weight made him an unstoppable force in front of the basket. But Yao’s ability to shoot from further out forced Shaq to leave his comfort zone and chase him; physically moving a seven foot tall obstacle from the hoop. And Yao was a full four inches taller. In their eagerly awaited first meeting, Yao demonstrated his height advantage by blocking Shaq twice in the first few minutes. The Rockets won that game, and Yao had arrived.

But success didn’t quite follow.

4.  Australia PM unveils carbon tax targeting biggest 500 polluters

AP   July 11, 2011

SYDNEY -- Australia will force its 500 worst polluters to pay AU$23 (US$25) for every ton of carbon dioxide they emit, with the government promising to compensate households hit with higher power bills under a plan to reduce greenhouse gas emissions unveiled Sunday.

Prime Minister Julia Gillard sought to reassure wary Australians that the deeply unpopular carbon tax will only cause a minority of households to pay more and insisted it is critical to helping the country lower its massive carbon emissions. Australia is one of the world's worst greenhouse gas polluters, due to its heavy reliance on coal for electricity.

“We generate more carbon pollution per head than any other country in the developed world,” Gillard told reporters in Canberra as she released details of the tax, which will go into effect on July 1, 2012. “We've got a lot of work to do to hold our place in the race that the world is running.”

The government hopes businesses affected by the tax will seek out clean energy alternatives to reduce their bills. The affected companies will have to pay AU$23 per metric ton of carbon, with the price rising 2.5 percent a year until 2015, when the plan will move to a market-based emissions trading scheme.

News Clipping 2011.06.30

   1.          City living affects your brain, researchers find

The part of the brain that senses danger becomes overactive in city-dwellers when they are under stress

    June 22, 2011

Researchers found that the regions of brain that regulate emotion and anxiety are overactive in city-dwellers.

The brains of people living in cities operate differently from those in rural areas, according to a brain-scanning study. Scientists found that two regions, involved in the regulation of emotion and anxiety, become overactive in city-dwellers when they are stressed and argue that the differences could account for the increased rates of mental health problems seen in urban areas.

Previous research has shown that people living in cities have a 21% increased risk of anxiety disorders and a 39% increased risk of mood disorders. In addition, the incidence of schizophrenia is twice as high in those born and brought up in cities.

1.          7 Foods for a Good Mood

Foods that would cheer you right up

June, 2011

There's something about comfort food that makes a bad day feel all better. But before you load up on the snacks that brings the calories along with the feel-goods, check out what should you be eating instead the next time you are hit with a case of the blues. That's what we call guilt-free snacking. 
Skim milk
Rich in tryptophan, milk products help our brain synthesize serotonin, a natural chemical that induces calm and happiness. It also contains a good amount of antioxidants, vitamin D and vitamin B12 that fight stress and aids in anti-aging.
Blueberries
These little blue fruits are abundant in vitamin C and antioxidants, both of which are known stress-busters. They are also rich in fibre which aids in digestion. 
Beans
Beans, in particular soy beans, are rich in soluble fibre, folic acid and omega-3 fats, all known to help in mood improvement. They are also excellent sources of iron calcium. 
Bananas
Like milk, banana contain tryptophan which is then converted into 'happy chemical' serotonin. It also contains carbohydrates which help boost energy and its high potassium content prevent cramps.
Chocolate
There's a reason why chocolate is one of the most popular feel-good foods around: the sugar helps boost levels of endorphins, your body's natural pain and stress fighters, hence reliving symptoms of stress that could impede your good mood. Remember to keep the chocolate intake to healthy doses, of course.
Oily fish like salmon, mackerel and sardines
Oily fishes such as salmon and mackerel are rich in omega-3 fatty acids which are known to improve moods. They are also packed with vitamin B6 and B12 which help in the production of serotonin. If you don't quite fancy fish, omega-3 supplements can be used as a substitute. 
Nuts
Jam packed with nutrients, namely protein, minerals (especially selenium which acts as an antioxidant), and omega-3 fats, nuts not only help to improve your mood, but also make up a big part of your daily nutrient intake. They also contain vitamin E, an anti-stress antioxidant. 

2.          Oil market caught flat-footed

CNN   June 23, 2011

(CNN) – A surprise attack from an unlikely source sent oil prices reeling Thursday.

The International Energy Agency, the Paris based research arm of 28 industrialized countries, held an emergency press conference to announce that its members would release 60 million barrels onto the market – allocating two million barrels a day for a month.  Half of the total will be coming from the U.S. Strategic Petroleum Reserve.

It is only the third time the IEA tapped reserves; the first was in 1991 during the Gulf War, then again in 2005 when Hurricane Katrina wiped out some production in the Gulf of Mexico.

3.          Tseng scores huge victory at LPGA Championship

Reuters     June 28, 2011

       

PITTSFORD, New York -- Yani Tseng of Taiwan underlined her status as women's world number one by winning the LPGA Championship by 10 strokes on Sunday to become the youngest female golfer to amass four major professional titles.

The 22-year-old Tseng, who began the overcast day with a five-shot lead, doubled her advantage by posting a final-round 66 at Locust Hill for a record-equaling total of 19-under-par 269 that left American Morgan Pressel (71) a distant second.

Tseng, who won the 2008 LPGA Championship at Bulle Rock and last year's Kraft Nabisco and Women's British Open at Royal Birkdale, surpassed Pak Se-ri of South Korea and Tiger Woods, who were both 24 when they won a fourth professional major. 

News Clipping 2011.06.23

1.       How’s the Weather?

The New York Times     June 16, 2011

Jacob Magraw

LATELY, the Sun has been behaving a bit strangely. In 2008 and 2009, it showed the least surface activity in nearly a century. Solar flare activity stopped cold and weeks and months went by without any sunspots, or areas of intense magnetism. Quiet spells are normal for the Sun, but researchers alive today had never seen anything like that two-year hibernation.

Now that the Sun is approaching the peak of its magnetic cycle, when solar storms — blasts of electrically charged magnetic clouds — are most likely to occur, no one can predict how it will behave. Will solar activity continue to be sluggish, or will solar storms rage with renewed vigor?

2.      Under pressure, Syria's Assad pledges reforms

Los Angeles Times   June 20, 2011

The embattled president mentions a possible change in the constitution to allow political parties, but opponents say he offers no concrete steps toward democracy.

In his first public address in over two months, Syrian President Bashar Assad, facing international and domestic pressure for rapid change, promised to open the country's political system and allow for a change of the constitution, but he unveiled no concrete new reforms and continued to blame unspecified foreign conspiracies for the violence perpetrated by his security forces.

The speech Monday fell far short of internal Syrian and international demands for a dramatic opening-up of one of the world's most tightly controlled police states. Critics said the vision he outlined ultimately failed to include concrete steps toward the democracy that protesters demand.

3.      175 killed from China floods; more than 1.6 million evacuated

CNN        2011.06.20

Beijing (CNN) -- At least 175 people have died from flooding this month in southern and eastern China, the country's Ministry of Civil Affairs said Monday.

Another 86 people are missing from the flooding that began with rainfall on June 3. The ministry said 13 provinces have been affected, more than 1.6 million people have been evacuated, and the direct economic losses has reached 32.02 billion yuan ($4.9 billion).

The flooding has destroyed at least 8,400 houses in Zhejiang province alone, a provincial agency said.

4.      Stocks mixed after delay on Greek debt deal

Associated Press      June 20, 2011

NEW YORK (AP) — Stocks indexes were mixed in early trading Monday after European leaders failed to agree on releasing more financial aid to Greece.

In order to get the aid, Greece has to agree to more budget cuts, which has been causing unrest and political upheaval there. The Greek government faces a confidence vote on Tuesday.

Prime Minister George Papandreou's newly-reshuffled government is expected to prevail in the confidence vote, and officials say they expect Greece to get its next installment of emergency loans in July. If Greece defaults on its debt, it could trigger losses for the banks that hold Greek bonds and more turmoil in financial markets.

Grammar Focus2. I wish 假設語氣

1. 與現在事實相反
 Use wish + past tense to refer to present wishes.
 I live with my parents.

 I wish I didn't live with my parents.

 I wish I had  my own apartment.

Life is difficult.

I wish life were easier. (單數一律使用were)

I wish life weren't so difficult


*出自Cambridge interchange student's book2

2. wish表示現在或未來可能發生的事(v or can、will、may、must + v)
    I wish you have a wonderful life.

3. 與過去事實相反

4. 與未來事實相反或不可能發生的事(were to)