Wednesday, April 10, 2013

Libya gives Egypt $2 billion interest-free loan: MENA

CAIRO (Reuters) - Libya will give Egypt a $2 billion five-year, interest-free loan under an agreement signed on Wednesday, the Egyptian state news agency MENA reported.

It quoted a finance ministry official as saying the loan would have a three-year grace period and was intended "to support the Egyptian economy and the state budget and foreign currency reserves".

The official said the money was expected to arrive next week. Earlier in the day, Qatar agreed to give Egypt $3 billion more in aid by buying Egyptian government bonds.

That agreement was announced during a visit to Doha by Egyptian Prime Minister Hisham Kandil.

Both deals came as Egypt is in the midst of negotiations with an International Monetary Fund delegation for a $4.8 billion loan which, unlike the Arab aid, would come with policy conditions including reform of subsidies and tax increases.

MENA quoted the official as saying the Libyan deal would strengthen Cairo's hand in the IMF talks.

(Reporting by Tom Perry; Writing by Paul Taylor)

Source: http://news.yahoo.com/libya-gives-egypt-2-billion-interest-free-loan-201511511.html

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Concern Grows About Human Rights in Egypt (Voice Of America)

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Google's Android target of new antitrust complaint

BRUSSELS (AP) ? A group of companies led by Microsoft have called on European authorities to launch an antitrust investigation into Google's dominance of Internet usage on mobile devices.

The complaint comes from the "FairSearch" initiative of 17 companies, including Microsoft Corp., Nokia Corp., and Oracle Corp. The group claims that Google is acting unfairly by requiring device makers using its free Android operating system to bundle an entire suite of Google's services to ensure they can include just one or two "must-have" apps, such as Google Maps and YouTube.

"Google is using its Android mobile operating system as a Trojan horse to deceive partners, monopolize the mobile marketplace and control consumer data," said Thomas Vinje, the group's Brussels-based lawyer.

Google does allow smartphone and tablet makers to sculpt Android to serve their own needs. In some instances, that has led to Android modifications that exclude Google's services. For instance, Amazon.com Inc. has largely locked out Google from its popular line of Kindle Fire tablets. There also have been periodic instances of Android smartphones with either Microsoft's Bing or Yahoo rather than Google as the built-in search engine.

Android operating systems are installed on about 70 percent of new smartphones, according to analyst estimates, handing Google the largest market share worldwide. Makers of Android devices include Samsung Electronics Co. and HTC Corp. Android is followed by Apple's iOS system, which powers the iPhone and the iPad. Research In Motion Ltd.'s BlackBerry, Microsoft's Windows and others trail far behind.

"Google's predatory distribution of Android at below-cost makes it difficult for other providers of operating systems to recoup investments in competing with Google's dominant mobile platform," FairSearch said in a statement.

The European Commission, the 27-nation bloc's executive arm and antitrust authority, must decide at some point whether to take up the case or drop it. A spokesman confirmed the complaint had been received.

Google Inc., which is based in Mountain View, California, did not address the complaint's charges in detail. "We continue to work cooperatively with the European Commission," Google spokesman Al Verney said.

The U.S. company is already under investigation by Brussels for practices related to its dominance of the online search and advertising markets.

That complaint, launched in 2010, alleges that Google unfairly favors its own services in its Internet search results, which enjoy a near-monopoly in Europe. Google has proposed a list of remedies to address the Commission's concerns to achieve a settlement. The Commission is currently examining the proposed changes.

"We have received some proposals by Google and we will soon launch a market test" of the proposed remedies, said Antoine Colombani, a spokesman for EU Competition Commissioner Joaquin Almunia. He declined to speculate on when the investigation would be concluded.

The EU Commission has often taken a harder line with U.S. tech companies than its American counterparts, the Federal Trade Commission and the Justice Department.

Google settled a similar antitrust complaint on its search business with the FTC in January without making any major concessions on how it runs its search engine, the world's most influential gateway to digital information and commerce.

Microsoft, which has been a leading player in the complaints against Google, has had its own protracted run-ins with the EU Commission. The Redmond, Washington, company has paid 2.2 billion euros in various fines since investigations began in 1998.

The FairSearch complaint was announced on the same day that Microsoft launched the latest phase of its U.S. ad campaign. That campaign depicts Google as a duplicitous company more interested in increasing profits and power than protecting people's privacy and providing unbiased search results.

Google's new privacy rules, meanwhile, are also attracting the scrutiny of European authorities. Several data privacy regulators have launched an investigation, alleging the company is creating a data goldmine at the expense of unwitting users.

Last year, the company merged 60 separate privacy policies from around the world into one universal document. The European authorities complain that the new policy doesn't allow users to figure out which information is kept, how it is combined by Google services or how long the company retains it.

The policy allows Google to combine data collected as one person uses multiple Google's services, from Gmail to YouTube, giving the company a powerful tool for targeting users with advertising based on their interests and search history. Advertising is the main way the company makes its money.

___

Toby Sterling in Amsterdam and Michael Liedtke in San Francisco contributed reporting.

___

Follow Juergen Baetz on Twitter at http://www.twitter.com/jbaetz

Source: http://news.yahoo.com/googles-android-target-antitrust-complaint-124420401--finance.html

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Quake caused no reactor damage, Iran tells IAEA

By Phil Stewart WASHINGTON (Reuters) - The United States is capable of intercepting a North Korean missile, should it launch one in the coming days, but may choose not to if the projected trajectory shows it is not a threat, a top U.S. military commander told Congress on Tuesday. Admiral Samuel Locklear, the commander of U.S. forces in the Pacific region, said the U.S. military believed North Korea had moved to its east coast an unspecified number of Musudan missiles, with a range of roughly 3,000-3,500 miles. ...

Source: http://news.yahoo.com/quake-caused-no-reactor-damage-iran-tells-iaea-164312246.html

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Tuesday, April 9, 2013

Dow Jones average closes at another record high

Traders work on the floor of the New York Stock Exchange Thursday, April 4, 2013. Stocks are notching small gains in early trading after the U.S. government reported that the number of people applying for unemployment benefits rose to the highest level since late November. (AP Photo/Richard Drew)

Traders work on the floor of the New York Stock Exchange Thursday, April 4, 2013. Stocks are notching small gains in early trading after the U.S. government reported that the number of people applying for unemployment benefits rose to the highest level since late November. (AP Photo/Richard Drew)

(AP) ? Materials and energy companies led the stock market higher Tuesday, sending the Dow Jones industrial average to its second all-time high in a week.

The Dow closed at 14,673.46, a gain of 59.98 points, or 0.4 percent. The Standard & Poor's 500 index also rose 0.4 percent, closing less than two points below its own all-time high set April 2.

The prices of metals like copper, gold and silver have rebounded this week after slumping for the first three months of the year on waning demand. Oil is also rising following a sharp decline last week.

"You're seeing some pretty decent action in the overall market, with today's leadership coming from the basic materials sector," said Robert Pavlik, chief market strategist at Banyan Partners. "It's an area of the market that does represent some value because it's underperformed."

The rise in basic materials such as precious metals was caused by a weakening of the dollar against other currencies, HSBC analyst Howard Wen said. Commodities are typically priced in dollars and a decline in the currency allows overseas buyers to purchase materials at lower prices.

Materials companies were the biggest gainers of the 10 industry groups in the S&P 500, rising 1.1 percent. Energy companies posted the second best return, increasing 0.8 percent. Those two groups have been among the weakest in the market this year.

On Tuesday the S&P 500 rose 5.54 points to 1,568.61. The index closed at a record high of 1,570.25 on April 2. The Nasdaq composite gained 15.61 points, or 0.5 percent, to 3,237.86.

The gains suggested that the Dow and S&P 500 may be poised to break out of a trading pattern they've followed for the last three weeks.

Stocks have mostly moved sideways since the middle of March. The Dow has alternated between small gains and losses after starting the year on a tear. Signs of slowing growth and concerns about the outlook for Europe had checked investors' confidence.

As companies report results this week, investors will be looking to see whether they are feeling any impact from government spending cuts that kicked in recently, said Jim Russell, investment director at U.S. Bank. They will also want to know what effect there will might from the ongoing debt crisis in Europe.

"The market is looking for companies to fill in those blanks," said Russell.

Alcoa, traditionally the first company in the Dow to report results, was flat at $8.39 after the company posted its earnings late Monday. Online auto retailer CarMax, home goods retailer Bed Bath & Beyond and the banks Wells Fargo and JPMorgan Chase report later this week.

On Tuesday, Cliff's Natural Resources, an iron ore mining company, rose $1.66, or 8.8 percent, to $20.45. The company's stock is still down 47 percent this year. Freeport-McMoRan Copper & Gold, another mining company, was up $1.34, or 4.1 percent, at $33.76.

First Solar soared after the solar panel maker issued a better-than-expected forecast for its 2013 results and solid predictions for the following two years, helped by continued growth in shipments. The stock price rose $12.31, or 46 percent, to $39.35.

Small company stocks lagged the market. The Russell 2000 index two points, or 0.2 percent, to 929.34. The index has slumped this month after rising 12 percent in the first quarter and performing better than both the Dow and S&P 500.

While stocks are struggling to extend their gains from the start of the year, bonds have rallied.

The yield on the 10-year Treasury note was unchanged at 1.75 percent Tuesday. However, the benchmark rate has fallen from a high of 2.06 percent reached March 11 as demand for low-risk assets increases.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-04-09-Wall%20Street/id-e9bb4c5e8a8a45dd90b4b008ffc27019

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Dems on GOP threats to filibuster gun vote: "Shame on them" (cbsnews)

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This Terrifying Condom Slingshot Is the Most Effective Birth Control

Bill Gates has posted a $100,000 bounty to the person or team that finds a way to improve the age old design of the condom. Including "designs that are easier to properly apply" which inspired our favorite weapons designer Joerg Sprave to of course apply his expertise in slingshots to the problem. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/vEZzmKPRHmI/this-terrifying-condom-slingshot-is-the-most-effective-birth-control

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