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January 30, 2012

China Signals Limited Loosening as PBOC Bucks Forecast - Bloomberg

Filed under: mortgage, technology — Tags: , , , — Gladiator @ 6:48 am

China (CNGDPYOY) signaled caution toward more monetary loosening by holding off on a reduction in bank reserve requirements that some economists had predicted would come before a week-long holiday ending Jan. 28.

Barclays Capital Asia Ltd., JPMorgan Chase & Co. and Industrial Bank Co. said this month that ratios were likely to fall ahead of the Lunar New Year festival, which boosts demand for cash. The central bank instead used reverse-repurchase contracts to add money to the financial system.

Premier Wen Jiabao seeks to steer the world

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January 5, 2012

Companies Add 325,000 to Payrolls in December - Bloomberg

Filed under: economics, technology — Tags: , , , — Gladiator @ 10:48 pm

Companies added more workers than forecast in December, a sign that the U.S. labor market was gaining momentum heading into 2012, according to a private report based on payrolls.

The 325,000 increase was the highest in records going back to 2001 and exceeded the highest projection in a Bloomberg News survey after a revised 204,000 gain the prior month, the report from the Roseland, New Jersey-based ADP Employer Services showed today. The median estimate called for an advance of 178,000.

An acceleration in hiring may spur further gains in consumer spending, which accounts for about 70 percent of the world

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December 15, 2011

Russia’s TNK-BP to invest $10 Bln in Arctic

Filed under: houses, technology — Tags: , , , — Gladiator @ 12:28 am

TNK-BP, a Russian joint venture of British oil giant BP, said Wednesday it will invest up to $10 billion in developing Arctic oilfields.

The company, half-owned by BP and Russian billionaires, said in a statement that up to $10 billion will be spent on building infrastructure at the fields and a pipeline that will link them with the export pipeline.

Russian oil companies have been drawing up plans to move to the oil and gas-rich Arctic as mature fields in Western Siberia are getting depleted.

TNK-BP said an agreement with Russia’s pipeline monopolist Transneft will allow it to connect its Arctic oil fields to the export pipeline in Russia’s Far East mainly aimed at Chinese customers.

TNK-BP will be able to ship oil through the Zapolyaryev-Purpe pipeline, which is expected to be built by 2016 to become a key link between Arctic resources and the main east and westbound pipeline routes.

The company said it expects to start shipments from new fields in the Yamal region in 2015. Its fields in the region are estimated to hold 5 billion barrels of oil.

TNK-BP’s executive German Khan described in the statement cooperation between oil companies and state-owned Transneft as “one of the most important conditions for putting new fields into development and efficiently developing the abundant resources of the region.”

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November 19, 2011

New St. Peters hotel tax proposal set for Feb. 7 ballot

Filed under: management, technology — Tags: , , , — Gladiator @ 1:16 am

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October 25, 2011

Thai floods shut down Bangkok’s second airport

Filed under: news, technology — Tags: , , , — Gladiator @ 5:16 pm

Advancing floodwaters in Thailand shut down commercial flights Tuesday at Bangkok’s second airport, spilling across a complex housing the country’s flood relief headquarters in one of the biggest blows yet to government attempts to prevent the sprawling capital from being swamped.

The effective closure of Don Muang airport, which is used primarily for domestic flights, was sure to further erode public confidence in the ability of Prime Minister Yingluck Shinawatra’s administration to defend the increasingly anxious metropolis of 9 million people.

Bangkok’s Suvarnabhumi Airport, the country’s main international gateway, has yet to be affected by flooding and flights there were operating normally. Most of the city has been spared inundation so far.

Don Muang has come to symbolize the gravity of the Southeast Asian nation’s deepening crisis, which has seen advancing waters drown a third of the country and kill 366 people over the last three months.

The airport houses the government’s recently established emergency Flood Relief Operations Center, and one of its terminals has been converted into an overcrowded shelter filled with tents for about 4,000 people who fled waterlogged homes.

Somboon Klinchanhom, a 43-year-old civil servant who took refuge there last week, was preparing to move after authorities said the terminal had become too overcrowded and thousands of displaced people would be relocated to other shelters.

“I thought it would be safe and well-protected,” Somboon said of the airport, as she packed her belongings again.

Outside, ankle-high water rushed over sandbagged barriers and swamped roads within the airport compound.

The two main carriers based at Don Muang announced they were suspending operations and diverting flights to Suvarnabhumi. They are Thai Orient Airlines and Nok Air, which said it was halting flights until Nov. 1.

Capt. Kantpat Mangalasiri, the airport’s director, said Don Muang’s runways _ though not currently flooded _ would be closed until Nov. 1 to ensure safe aircraft operations.

Thai air force flights carrying relief supplies were continuing on a military runway that is still open, air force spokesman Montol Suchukorn said. He said floodwaters had breached the military’s air base, but the runway remains protected by flood barriers.

Last week, the air force moved 20 planes from Don Muang as a precaution.

The flood relief command will remain at the airport for now since it is still accessible by road, spokesman Wim Rungwattanajinda said.

He said the government expects floodwaters will sweep through the main parts of Don Muang by Friday, but would not rise above 3.3 feet (one meter).

The scene at the domestic terminal was chaotic as throngs of confused passengers struggled to leave or pulled up to the departure hall with luggage, unaware their flights had been canceled.

With parts of the main road heading to downtown Bangkok flooded knee-deep, taxis were in scarce supply. Some travelers waited hours for a ride as airlines scrambled to arrange special buses.

Don Muang, located on Bangkok’s northern outskirts, is among seven of the capital’s 50 districts that the government has declared at risk. Those zones, in the north and northwest, are all experiencing some flooding.

The latest added to the list is the northwestern district of Bang Phlat. Late Monday, Gov. Suhumbhand Paribatra warned residents there to move their belongings to higher ground after water from the Chao Phraya River crept in through a subway construction site.

On Tuesday, Yingluck’s administration declared public holidays on Oct. 27-31 in affected areas, including Bangkok. The Education Ministry also ordered schools in 12 affected provinces and the capital to close until Nov. 7 due to the floods.

Last week, Yingluck ordered key floodgates opened to help drain runoff through urban canals to the sea, but there is great concern that rising tides in the Gulf of Thailand this weekend could slow critical outflows and flood the city.

Late Monday, the flood relief center said water levels in the worst-hit parts of the country _ the submerged provinces north of Bangkok _ were stable or subsiding. But the massive runoff was still bearing down on the capital as it flowed south toward the Gulf of Thailand.

While neighborhoods just across Bangkok’s boundaries are underwater, most of the city is dry and has not been directly affected by the deluge.

Anxious Bangkokians, though, have been raiding stores to stock up on emergency supplies, and many have been protecting their homes and businesses with sandbags. Some have even erected sealed cement barriers across shop fronts.

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October 17, 2011

RIM offers free apps following service interruptions

Filed under: marketing, technology — Tags: , , , — Gladiator @ 2:36 pm

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September 14, 2011

Actors, crime victims participate in press inquiry

Filed under: Uncategorized, technology — Tags: , , , — Gladiator @ 11:04 pm

An electic mix of celebrities, crime victims and former police suspects will take part in a judge-led inquiry into the state of Britain’s scandal-tarred press.

Lord Justice Brian Leveson said Wednesday that Harry Potter creator JK Rowling, actors Hugh Grant and Sienna Miller, Formula One boss Max Mosley, the parents of missing girl Madeleine McCann and murdered schoolgirl Milly Dowler will participate.

Leveson has been asked to examine the ethics of the British media and to investigate improper conduct.

The group of around 46 people will give evidence on alleged media intrusion into their private lives.

The inquiry was set up in response to the phone hacking scandal in which journalists at News International are accused of hacking into voice mails.

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September 8, 2011

Rogers applies for banking license

Filed under: real estate, technology — Tags: , , , — Gladiator @ 11:20 am

Rogers Communications wants to be your bank, as well as your phone, cable and Internet supplier.

The company says it has applied to the federal government for a banking license.

But Rogers won’t be jostling on for space on prime street corners with the Big Five banks, the company says.

Instead, it will be “primarily focused on credit, payment and charge card services,” said Carly Suppa of Rogers in an email.

“We have no plans to become a full-service deposit-taking financial institution.”

The company hasn’t set a target date for plunging into the financial services sector. In fact, it hasn’t made a final decision.

“The license, if granted, would give us the flexibility to pursue a niche credit card opportunity to our customers should this make sense at a future date,” Suppa said.

In any case, she added, the licensing process is a rigorous one that could take more than a year.

David McVay of McVay and Associates Ltd. said Rogers probably wants to capture a share of the fees generated by credit and debit cards.

When a consumer pays with a credit card, the merchant gets paid about 98 cents on the dollar for the transaction. The other two cents is divided between the card issuer and the clearing house that tracks the payments.

“I suspect they may want to get in the middle of that process to get some of that revenue,” McVay said.

Debit card transactions generate a set fee per transaction, rather than a percentage of the purchase value.

But Rogers may also be looking to new telephone technology that’s just over the horizon, McVay said.

“It may actually relate to the cellphone becoming a payment device. Not far off, you’ll be able to wave your cellphone by a payment terminal and it will debit your account or charge your credit card.”

That, too, will generate fees that Rogers, as a phone company, will want to capture more of.

If that is the goal, McVay warned it’s no slam dunk.

Wal-Mart entered the banking sector so it could issue MasterCards, he said, and has had difficulty winning market share.

“The cards that the banks offer are so rich in rewards right now, there’s not a good reason for consumers to switch,” he said.

“I think it’ll be tough slogging for anybody up against the major banks, because they are very big, and very good.”

That hasn’t deterred some retailers from offering financial services.

Canadian Tire Financial offers a MasterCard, while President’s Choice — a brand carried by grocery chain Loblaw — provides a host of other banking services including credit cards and mortgages. Also read: Are low-fee banks worth it?

10 fees to avoid

With files from the Canadian Press

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September 6, 2011

Sam Bradford stars in Charter ads

Filed under: mortgage, technology — Tags: , , , — Gladiator @ 8:24 pm

Rams quarterback Sam Bradford has a new job; appearing in Charter Communications advertisements.

Bradford is featured in print ads and three TV commercials for the cable TV and internet provider.  The commercials strive for a light touch.  In one, a fan asks Bradford to stand back so the fan can take a picture of a Charter truck paydayloans.

Charter recently announced an agreement to carry the NFL Network.

 

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August 26, 2011

HK think tank to put Asian angle on global issues

Filed under: finance, technology — Tags: , , , — Gladiator @ 11:04 am

A prominent Hong Kong business family has set up a think tank to look at global economic issues in the latest attempt at developing a world class research institute in Asia that can compete with those in North America or Europe

The Fung Global Institute was established on Thursday and will look at global issues from an Asian perspective as economic power increasingly shifts to the East.

As Asian economies have grown, new think tanks have sprouted in the region. But limits on democracy and free speech in many Asian countries mean few have produced research comparable in quality and influence to counterparts such as the Washington, D.C.-based Brookings Institution, Canada’s Fraser Institute or Britain’s Chatham House.

The Fung Global Insitute said it is recruiting experts from around the globe to provide business leaders and policymakers with research that aims to “help shape and advance international dialogue on Asia’s growing influence on the world economy cash advance payday loan.”

Michael Spence, a 2001 Nobel laureate in economics, will chair the think tank’s academic board.

The institute is set up with an endowment from the Victor and William Fung Foundation _ a charity funded by and named for the two brothers behind trading company Li & Fung Ltd.

The new think tank will look at four main themes, including global supply chains.

Li & Fung Ltd. is one of the biggest suppliers of clothing and other consumer goods sourced in Asia for Western consumers.

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