CNBC.com Article: Are Billionaires Just Smarter Than the Rest of Us?

So by extension, I am supposed to believe this duke study that is not written by a "smart" billionaire

CNBC.com Article: Are Billionaires Just Smarter Than the Rest of Us?

A new study is turning the American dream on its head: Maybe it's not hard work that brings success and money. Maybe it's sheer brainpower.

Full Story:
http://www.cnbc.com/id/100637179

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Robin van Persie: Title agony at Arsenal turned me grey

//The greys on his hair were more likely spending all his years at Arsenal in the medical room, ungrateful scum..



Robin van Persie: Title agony at Arsenal turned me grey

By Massimo Marioni Thursday 28 Mar 2013 8:55 am

Silver fox: Manchester United’s Robin van Persie has notable grey streaks in his hair (Picture: PA)

Robin van Persie says missing out on the Premier League title with Arsenal for so many years has turned him grey.

The 29-year-old, who is within touching distance of claiming his first league winners medal with Manchester United this season, has revealed the agony of never quite realising his ultimate ambition during his eight years with the Gunners.

‘That I’ll probably win my first championship is very nice. I’m really thrilled about it. Not winning titles has given me quite some pain and it has made me greyer,’ said the Dutchman, who has developed some notable white streaks in his hair over the past few seasons.Darker years: Robin Van Persie just two seasons ago with Arsenal (Picture: REXMAILPIX)

‘It still has to happen. We have to go to Sunderland and West Ham, and we have to play Chelsea [in Monday's FA Cup quarter-final replay] and if we win, we play back-to-back against City in the league and the FA Cup semi-final.

‘Then we have Stoke. These are not summer-night games. I watched United drop the lead last season but it’s getting awfully close now, and I’m really happy with that.’

Van Persie, who has scored 23 times this season to help Sir Alex Ferguson’s side close in on their 20th league title, added: ‘I think my move to United came at exactly the right time

‘It shouldn’t have been any earlier or any later. Arsenal was for eight years the place to be. But last summer was the perfect moment to sign for United.’
Arsenal FC, Manchester United FC, Robin Van Persie

Cities switch lights off for "Earth Hour"

What's the purpose of Earth Hour and does it help at all? Year after year, we have this little activity, nothing changes.

Cities switch lights off for "Earth Hour"
Posted: 23 March 2013 2247 hrs




SYDNEY - Iconic landmarks and skylines were plunged into darkness on Saturday as the "Earth Hour" switch-off of lights around the world got under way to raise awareness of climate change.

Sydney kicked off the event at 8.30 pm (0930 GMT), cutting off lights to cheers and applause from a small crowd who had gathered to see the skyline dim and Sydney Opera House turn a deep green to symbolise renewable energy.

Organisers expect hundreds of millions of people across more than 150 countries to turn off their lights for 60 minutes on Saturday night -- at 8:30 pm local time -- in a symbolic show of support for the planet.

"It's really exciting," said Jessica Bellamy, watching the event in Sydney.

"It's been a very inspiring night because it's all about hope and change."

Japan switched off soon after Australia, with the illumination on the landmark Tokyo Tower dimming down as visitors were given the chance to pedal bicycles to generate power to illuminate an egg-shaped artwork.

The Hiroshima Peace Memorial, a designated UNESCO World Heritage Site in the country's west, also sat in darkness.

In the Chinese capital Beijing, lights were shut off at the former Olympic stadium, the "Bird's Nest", while in the commercial hub of Shanghai buildings along the famed riverfront Bund took part.

Some hotel guests in the city's financial district were asked to respect the event and turn off lights in their rooms for an hour.

Hong Kong's iconic skyline appeared to vanish into the night as the neon lights and advertising hoardings that usually brighten the sky were turned off, leaving the harbour in darkness.

In Singapore a crowd of almost 1,000 people watched from a floating platform as landmarks on the skyline dimmed, before a pulsating musical performance had people dancing in the dark ahead of a film screening.

Many more of the world's most iconic attractions, including the Empire State Building and Russia's Kremlin and France's Eiffel Tower are due take part later.

While more than 150 countries took part in last year's event, the movement has spread even further afield this year, with Palestine, Tunisia, Suriname and Rwanda among a host of newcomers pledging to take part.

Earth Hour originated in Sydney with a simple appeal to people and businesses to turn off their lights for an hour to raise awareness about carbon pollution.

"What started as an event in Sydney in 2007 with two million people has now become a tradition across the country and across the world," said Dermot O'Gorman, head of WWF-Australia.

"It's now an organic, people-powered movement... which is fantastic."

Other newcomers to be plunged into darkness include Copenhagen's Little Mermaid, the statue of David in Florence and Cape Town's Table Mountain.

"I think the power of Earth Hour is in its ability to connect people and connect them on an issue that they really care about which is the environment," said O'Gorman as the city stood in darkness.

"Earth Hour shows that there are millions of people around the world who also want to do something."

With restaurant diners eating by candlelight, Outback communities going dark and iconic buildings standing in shadows, O'Gorman believes Earth Hour has played a part in drawing attention to energy use.

"Earth Hour has always been about empowering people to realise that everybody has the power to change the world in which they live, and thousands of people switching to renewable energy is a perfect example," he said.

- AFP/ir

China may soon stop offering the world cheap solar panels

Brad Plumer what's your motive telling readers that the best reporter is Quartz's (a new startup not older than iphone 5) Todd Woody?

 //–The best reporter on the Suntech bankruptcy is Quartz’s Todd Woody.//

China may soon stop offering the world cheap solar panels


Posted by Brad Plumer on March 23, 2013 at 9:00 am



Over the past few years, China has utterly dominated the global solar industry. Firms like Suntech, Trina, and Yingli have received hefty government subsidies to sell photovoltaic panels at bargain-bin prices and capture 80 percent of the global solar-manufacturing market.


Not feeling quite so generous.

But now it looks like China is growing weary of providing cheap solar panels for the rest of the world.

This week, the main Chinese subsidiary of Suntech, the world’s largest solar manufacturer, was forced into bankruptcy court. The company had missed a $541 million payment to bondholders and owes roughly $1.4 billion to China’s state-owned banks. The manufacturer had been struggling in the face of an oversupplied solar-panel market andnew tariffs imposed by the United States. (There were also accusations of mismanagement.)

So what happens now? Suntech, which employs some 10,000 workers, will face some sort of restructuring. On the whole, the Chinese solar-manufacturing industry will likely have to shrink and consolidate so that some companies can still survive. An endless frenzy of overproduction and cut-rate prices isn’t sustainable.

In the near term, that means solar prices will likely go up. As Todd Woody of Quartzexplains, Chinese manufacturing has helped drive solar photovoltaic prices down 75 percent since 2007. “The Chinese solar expansion set off a boom in Europe and the US as installers took advantage of cheap solar panels to expand their business,” he writes. “The collapse of Suntech and other Chinese manufacturers could leave installers like SolarCity on the hook for hundreds of millions in warranties.”


But not everyone is convinced that rising prices will be a terrible thing. Here’s Kevin Bullis of MIT Technology Review: “That could be a good sign for the solar industry and for innovation. We need more companies to fail [in order] to reduce oversupply, stop prices from plummeting, and allow companies to start buying more equipment and implementing new technologies that are needed long-term for solar to compete with fossil fuels.”

The glut of cheap Chinese panels has helped bolster the rooftop solar market in recent years. But if solar power is ever going to become a huge, widespread technology, we’ll likely need to see newer, more efficient technologies and alternatives to conventional silicon panels. In some key ways, China’s onslaught was standing in the way of that.

Further reading:

–Solar is getting cheaper. How far can it go?

–A terrific, prescient story from last year by my colleague Steve Mufson about how China’s growing share of the solar market was coming at a steep price.

–Back in May, the United States imposed a 31 percent tariff on imports of silicon photovoltaic cells from Suntech and other manufacturers in response to allegations of dumping.

–The best reporter on the Suntech bankruptcy is Quartz’s Todd Woody.

Bloomberg: Los Angeles Halts Using Electricity From Coal Plants

Let's not stop here.

From Bloomberg, 20 Mar, 2013 8:00:00 AM

Los Angeles will become the biggest U.S. city to abandon coal-fueled electricity after the taxpayer- owned utility said it will support renewable sources, boost energy efficiency and build a new natural-gas fired plant.

To read the entire article, go to http://bloom.bg/16HAd2N
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JP Morgan board strongly endorses Jamie Dimon

It doesn't take a kid to know that the Board of JPM are full of
groupthinkers looking at one direction.



(Reuters) - The board of directors of JPMorgan Chase & Co (JPM.N) said
on Friday it "strongly endorses" keeping Jamie Dimon as both their
chairman and chief executive of the company.

The comment, contained in the opening pages of the company's proxy
filing ahead of its annual meeting on May 21, is a more vigorous
affirmation of the same view the panel took last year when it opposed
an unsuccessful shareholder proposal to split the roles.

The remark comes even after the board said in January that it had cut
Dimon's annual compensation in half for 2012 to $11.5 million after
the company lost $6.2 billion on derivatives in the so-called "London
Whale" trades.

The board said the "strength and independence" of its oversight had
been demonstrated by actions the company took after the trading
debacle.

The company has since overhauled its risk controls and replaced some
of its top executives.

The new proxy includes a fresh shareholder proposal calling for
different people to hold the posts of CEO and chairman. It is similar
to last year's proposal which received 40 percent of the vote.

That vote came five days after the company suddenly announced on May
10 that it had a loss of more than $2 billion on derivatives trades.
The size of the loss grew afterward and investors learned more details
from congressional hearings about how badly the company had handled
its investment portfolio.

Proponents of this year's proposal, who include managers of pension
funds for New York City employees and for the American Federation of
State, County and Municipal Employees, have added the derivatives loss
as a reason to separate the roles.

The board, as it did last year, said it while it is glad to have Dimon
in both roles it has not ruled out separating the posts in the future.

This year's meeting, like last year's, is to be held in a JPMorgan
office park in Tampa, Florida.

JPMorgan shares have recovered all of the market value they lost after
the derivatives debacle. The stock traded up 0.9 percent on Friday to
$48.78 at the close of New York Stock Exchange trading. It was at
$40.74 on May 10 before the company admitted it was losing billions of
dollars on the trades.

Dimon's total compensation, as presented according to the U.S.
Securities and Exchange Commission format, was $18.7 million in 2012,
down from $23.1 million in 2011. Company and SEC pay counts can differ
with the timing of incentive compensation.

(Reporting by David Henry in New York; Editing by Leslie Gevirtz and Andrew Hay)

MFA disappointed at US "pressure" tactics over investigations into Shane Todd's death

But US is free country and politicians have to listen to their voters not their brains right?

SINGAPORE: Singapore's Foreign Affairs Ministry has said that the issue of applying "pressure" should not arise between countries which have a "long, open and cooperative relationship with each other, based on mutual respect".

It was responding to the latest move by two US Senators to block American funding to Singapore's Institute of Microelectronics (IME).

US Senators Max Baucus' and Jon Tester have introduced an amendment to block the funding, until the US Attorney General certifies that the Federal Bureau of Investigation (FBI) has full access to all evidence and records relevant to the death of American Shane Todd.

The Foreign Affairs Ministry said it's "deeply disappointed by the Senators' actions and statements".

It said the Senators had requested the FBI to be given "full access" to all the evidence in the investigation conducted by the Singapore Police Force (SPF) over the case, based on "the version of the facts provided by the family alone".

The ministry added the police here have so far refrained from publicising the information gathered because investigations are ongoing.

It reiterated that there will be a public Coroner's Inquiry where all the facts will be laid out to determine the cause of Mr Todd's death.

The ministry said Singapore has made every effort to be open and transparent in both its investigation and the over projects handled by the Institute of Microelectronics.

At a recent meeting between Foreign Affairs and Law Minister K Shanmugam, with Senator Baucus (in Washington DC on 12 March 2013), Mr Shanmugam had said that the Singapore police is prepared to share relevant evidence with the FBI "in accordance with the legal framework of both countries".

"The Minister reiterated this at a press conference after the meeting. The SPF has also publicly committed to take into account any information and evidence that the FBI may independently gather. The SPF will ensure that all information is comprehensively examined and scrutinized during its investigation, and have done so through foreign experts and in this case, the FBI. The SPF will continue to work with the FBI to engage the Todd family to get their co-operation and assistance for the on-going investigation," said the MFA spokesperson.

Mr Shanmugam also pointed out that IME was subject to rigorous internal audits.

The Institute of Microelectronics is also prepared to have a team from the US to conduct a process audit here.

The ministry said it will let the outcome of the investigation and Coroner's Inquiry speak for themselves.

31-year-old Shane Todd was found hanged in his Singapore apartment in what appeared to be suicide, last June.

His parents, however, believe he was murdered.

- CNA/ck

N. Korea says nukes are not a bargaining chip for aid

Of course, if North Korea has the funds to build nuclear bombs, and sell them, they have the funds to feed themselves. 

N. Korea says nukes are not a bargaining chip for aid
Posted: 17 March 2013 1649 hrs


Click to enlarge Photos 1 of 1

This file photo shows North Korean children standing next to a shipment of US wheat, at a UN World Food Programme distribution site in Pyongyang. (AFP/File - Frederic Brown)



SEOUL: North Korea said on Sunday it would never trade its nuclear weapons programme for aid and stressed its "unshakeable" stance to retain the deterrent, following a third atomic test last month.

The North's foreign ministry, in a statement carried by state TV, rejected suggestions that the impoverished state was using its weapons programme as a way of bullying neighbours into offering much-needed aid.

"The US is seriously mistaken if it thinks that the (North) had access to nukes as a bargaining chip to barter them for what it called economic reward," it said.

The comments came days after the US National Security Advisor Tom Donilon said Washington was willing to hold "authentic negotiations" with the North if it changed its behaviour.

"To get the assistance it desperately needs and the respect it claims it wants, North Korea will have to change course," he said last week.

But the North on Sunday called its atomic weaponry a "treasured sword" to protect itself from what it called a hostile US policy.

The US "temptation" may work on other countries "but it sounds nonsensical" to the North, the foreign ministry statement said.

"The (North) would like to re-clarify its unshakeable principled stand on its nuclear deterrence for self-defence."

Last month's test, the most powerful to date, prompted the United Nations to further tighten sanctions imposed following previous nuclear tests and long-range rocket launches in 2006 and 2009.

The tougher sanctions, and an ongoing South Korean-US military exercise, sparked an angry response from Pyongyang, which said it was tearing up the armistice that ended the Korean War and ending non-aggression pacts with Seoul.

The country has suffered chronic food and fuel shortages for decades, with the situation exacerbated by floods, droughts, mismanagement and global sanctions.

International food aid, especially from South Korea and the US, has been drastically cut over the past several years amid tensions over the North's nuclear and missile programmes.

A six-nation aid-for-denuclearisation forum on the North, involving the two Koreas, China, Japan, the US and Russia, have been at a standstill since the last meeting in December 2008.

Almost 28 percent of the North's children aged under five are stunted from malnutrition, a 2012 UN national nutrition survey showed.

- AFP/xq

Suntech Seen Not Getting Bailout From Chinese Government

By Bloomberg News - Mar 14, 2013

China won’t rescue Suntech Power Holdings Co. (STP) from its creditors because the former biggest solar-panel maker needs to retrench along with the rest of the industry, two advisers to government agencies said.

Officials in Beijing want to pare excess manufacturing capacity and consolidate the $25 billion global industry that’s led by China, said Li Junfeng, director of the climate-change strategic research division at the government’s National Development and Reform Commission.

“The government won’t intervene and shouldn’t,” Li said in an interview. Meng Xiangan, vice chairman of the China Renewable Energy Society, a liaison between the industry and the state, said Suntech should “not rely on government assistance.”

The comments from advisers with knowledge of the Chinese government’s thinking cast doubt on whether Suntech, the largest solar panel manufacturer in 2011, can avoid bankruptcy. The company March 11 said it obtained an agreement from more than 60 percent of bond holders to delay repayment for two months on $541 million of notes due tomorrow.

The national government wants to avoid a default, which would be the first for a bond issued by a company based in mainland China. Restructuring the solar industry is one of the first issues confronting Premier Li Keqiang as his administration takes over from Wen Jiabao this month.

Bankruptcy Risk

Suntech’s best course would be to “file for bankruptcy for some assets and let a state-owned power enter to protect certain interests,” Meng said. “The entire company won’t go bankrupt. Its brand will remain alive.”

Two calls to Suntech’s Wuxi headquarters in Jiangsu province and an e-mail to a company spokesman went unanswered after regular business hours. Walker Frost, a spokesman for the company in San Francisco, declined to comment.

The New York Times yesterday reported that Suntech is close to be taken over partially or entirely by Wuxi Guolian Development Group Co., a holding company part-owned by the municipal government. The newspaper cited solar-industry executives who it didn’t name and an unidentified person who answered the phone at Wuxi Guolian.

Suntech executives are negotiating with bondholders about how to restructure payments on the $541 million of notes that are convertible into shares as soon as tomorrow.

Local Support

The company is also in talks with the government of Wuxi about financial assistance, though it’s not clear how much support the local authority is prepared to give. Suntech got a $32 million loan from Wuxi in September. In November, LDK Solar Co. (LDK), China’s second-biggest supplier of wafers for solar cells in 2011, sold a 19.9 percent stake for about $21.8 million to Heng Rui Xin Energy Co., which is partly owned by the Xinyu government, where it has a factory.

“The question is what kind of bailout Wuxi officials can swing,” said Melanie Hart, a policy analyst at the Center for American Progress inWashington. “If the bailout isn’t backed by a big state bank, it may be only partial. China Development Bank represents Beijing, not Wuxi, and Beijing is more concerned with developing the industry as a whole than it is with saving companies. We should not underestimate its ability to take a pass on a deal that it sees as a bad bet.”

Shares of Suntech fell 24 percent to 83 cents at the close in New York yesterday, the lowest since Nov. 26, giving the company a market value of $149.5 million.

Solar Boom

China in the past three years wrested leadership over solar manufacturing away from German and Japanese companies, extending cheaper loans and cutting prices more quickly. That led to production capacity more than doubling at each of its top five panel manufactures.

That expansion supported a surge in installations of photovoltaics to 30 gigawatts last year from 7.7 gigawatts in 2009, according to Bloomberg New Energy Finance. The cost of solar cell prices has plunged 72 percent over the same period, including a 20 percent drop in 2012, widening losses at Chinese solar companies.

Suntech, LDK, Trina Solar Ltd. (TSL), Yingli Green Energy Holding Co. (YGE), Hanwha SolarOne Co. (HSOL) and Jinko Solar Holding Co. were among 12 companies that obtained more than $43.2 billion in credit pledges from China Development Bank Corp., according to data compiled by Bloomberg.

Shares of Suntech have fallen 35 percent since March 4 after the board ousted founder Shi Zhengrong as chairman. The Chinese analysts said that government funding for the solar industry helped cause the problems.

Government Blamed

Suntech’s distress “was due to the governmental intervention,” Li of the NRDC, China’s top economic planning agency, said in a phone interview in Beijing late yesterday.

China reiterated it plans to promote consolidation among solar companies in December. Suntech was the world’s biggest panel maker in 2011 with shipments of 2.1 gigawatts and was tied with First Solar Inc. (FSLR) by factory capacity. It expects 2012 shipments to slip to 1.7 gigawatts to 1.8 gigawatts.

The solar panel glut is the result of “overheated investment motivated by local governments that were keen on economic growth in the past when we started developing the photovoltaic business,” Meng said. “Suntech should mainly depend on its own efforts to overcome the difficulties.”

Revenue Decline

Suntech’s market value slumped 72 percent in the past year after losses of $646 million in the four quarters through March 2012. The company hasn’t released any financial reports since, after announcing in July that it may have been the victim of fraud involving 560 million euros ($726 million) of German bonds that may have never existed.

Revenue dropped 18 percent to $387 million in the third quarter as shipments of photovoltaics dropped 10 percent, Suntech said on Dec. 7, when it published preliminary results. It said it expected a “slightly negative” gross margin, without giving more details.

Meng of the Renewable Energy Society said the glut is the result of excess support from authorities, who are seeking to create jobs.

“If companies can’t survive, even if they are saved, it’s useless,” Meng said. “Our policy is very clear to encourage mergers and acquisitions. Both state- and privately-owned entities can restructure or acquire each other. Restructuring or mergers and acquisitions are in line with what the central government requires.”

Bondholders

Suntech said 60 percent of bondholders have agreed to the forbearance. Some of the remaining 40 percent of bondholders said they weren’t contacted about a forbearance and want to be paid on schedule tomorrow. The company may not be able to delay the bond payments, saidAdam Cohen, the founder of Covenant Review, a research firm in New York.

The bondholders have an “absolute right” to be repaid the principal when the bonds mature, Cohen said in an interview March 12. “It doesn’t matter that a majority or 60 percent wants to wait 60 days.”

Shi, the former chairman, said March 5 that the company has no plan in place to pay the debt. Susan Wang, formerly the chief financial officer of the electronics manufacturing company Solectron Corp., replaced Shi last week.

Suntech had about $2 billion of debt as of the end of August, according to a bondholder presentation in November filed with the Securities and Exchange Commission.

To contact the reporters on this story: Feifei Shen in Beijing at fshen11@bloomberg.net; Ehren Goossens in New York ategoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Iran dismayed at proposal to drop wrestling from Olympic Games

Not the most important thing they should be dismayed about...

Iran’s national Olympic committee says move would a ‘huge blow’ to one of the country’s most popular sports



8 HOURS 15 MIN AGO


LONDON — Iranians are dismayed at the International Olympic Committee’s proposal to drop wrestling form the 2020 Olympic Games.

Earlier yesterday, the IOC’s executive board recommended wrestling to be removed from the 2020 Games, which will be held in either Istanbul, Tokyo or Madrid.


But in Iran, where wrestling has a significant following, the ruling committee’s decision has taken many by surprise and shock, prompting the head of the country’s national Olympic committee to say he would lobby against it.

“This will be a huge blow to our country’s sports,” Mohammad Ali-Abadi, the head of the Iranian national Olympic committee, said, according to the semi-official Mehr news agency.

“Wrestling is one of our country’s most popular and dominant sports,” he said, adding that he would pursue Iran’s objection to the decision with the IOC.

In the 2012 London Games, Iran came third in the wrestling medal table after Russia and Japan, with three golds, one silver and two bronzes. More than half of Iran’s 60 medals in the history of Olympic games are from wrestling and taekwondo.

Thanks to Iran’s good performance in wrestling, the country was the 17th in the total medal count of the London games, which marked the most successful Olympics ever for Iran.

But if the IOC endorses the ruling committee’s decision in September in Buenos Aires, Iranians will have to invest on a different sport.

“This is not the end of the process, this is purely a recommendation,” the IOC spokesman, Mark Adams, said after the board’s vote. “It is the session which is sovereign.” GUARDIAN

Bloomberg: Billionaire Kuok Says His Empire Can Last ’Generations’

A lot of billionaires past thought so...

From Bloomberg, 1 Feb, 2013 6:00:00 AM

When billionaire Robert Kuok introduced a luxury hotel brand in 1971, he named it Shangri-La, after the fictional utopia in which inhabitants enjoy unheard-of longevity.

To read the entire article, go to http://bloom.bg/XWNI7v
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Diplomat: N. Korean nuclear test held despite China warnings

Its better to leave them as they are - backward but "happy".

Diplomat: N. Korean nuclear test held despite China warnings

Published: 02.12.13, 07:43 / Israel News

A UN diplomat said that North Korea conducted a nuclear test on Tuesday despite China's warnings against it. The UN Security Council will convene Tuesday morning for an emergency meeting over the affair.

Earlier Tuesday media outlets worldwide reported a 4.9 earthquake was felt in North Korea, which could be the evidence of a nuclear test. (AFP)

Music stars ooze sex appeal on Grammys red carpet

Too bad I can't appreciate all these strutting around and camera flashing for all these people whose job is  essentially entertaining the rest of us.

 

Music stars ooze sex appeal on Grammys red carpet
Posted: 11 February 2013 0942 hrs


Click to enlarge Photos 1 of 1

Jennifer Lopez arrives on the red carpet at the Staples Center for the 55th Grammy Awards in Los Angeles, California on February 10, 2013. (AFP/Frederic J. Brown)



LOS ANGELES - US television network CBS may have warned stars not to show too much skin on stage Sunday at the Grammys, but A-listers tested the limits on the red carpet in body-conscious, revealing gowns.

Jennifer Lopez, whose plunging barely-there green Versace gown at the 2000 Grammys provided a red carpet moment for the ages, pushed the dress code to the edge with a daring black dress that covered most -- but not all -- of her.

"They didn't say anything about leg!" she told presenter Ryan Seacrest on the red carpet ahead of the main event, her toned bare leg and shoulder on full display in her asymmetrical Anthony Vaccarello ensemble.

In an email leaked to media outlets, CBS warned those appearing on the Grammys stage to "please be sure that buttocks and female breasts are adequately covered."

"Thong type costumes are problematic. Please avoid exposing bare fleshy under curves of the buttocks and buttock crack," read the letter from CBS' Standards and Practices department to representatives of the stars.

The letter continued: "Bare sides or under curvature of the breasts is also problematic. Please avoid sheer see-through clothing that could possibly expose female breast nipples."

Katy Perry clearly did not get the memo, strutting her stuff in a skin-tight cleavage-baring mint green dress, saying she was inspired by the retro glam of Priscilla Presley's look in the 1970s.

Rihanna opted for a body-skimming sheer red dress by Azzedine Alaia, with bright red lips to match.

Pop princess Taylor Swift glittered in a winter white goddess gown from J. Mendel, complete with silver accents at the neck and bustline and a daring slit in the front.

In the opening performance of the night, Swift changed into a white ringmaster's costume with shorts and knee-high boots -- but no curves exposed.

Oscar winner Nicole Kidman, on the arm of singer-husband Keith Urban, wore a sleeveless gold Vera Wang gown, while one-time "American Idol" Carrie Underwood opted for a strapless black Roberto Cavalli with a sheer skirt.

Adele, the big winner at last year's Grammys with six trophies, left her usual basic black at home but followed the rules, opting for a bold red floral Valentino dress with long sleeves and a conservative knee-length hem.

- AFP/ir

For Chinese New Year, Beijing Expects to Be Gasping

For Chinese New Year, Beijing Expects to Be Gasping

On Feb. 10, Beijing will celebrate the Chinese New Year -- assuming the city can catch its breath. January may have been its worst month ever for air pollution. The level of airborne particulates was six times higher than the U.S. Environmental Protection Agency considers safe.

The EPA's Air Quality Index measures small-particulate pollution on a scale that runs from 0 to 500. Last month, Beijing's intraday high was often 360, deemed "hazardous." The daily average was 230, deemed "very unhealthy." A typical reading for New York is 80, considered "moderate." On Jan. 22, Beijing's pollution was literally off the scale. Its AQI score was 755. On five other days, the reading exceeded 500, the nominal maximum.

It's no surprise that the medical effects of breathing air like that are grim. Living in Beijing is equivalent to smoking one to three cigarettes a day, according to C. Arden Pope III, an environmental economist at Brigham Young University. The risk of respiratory and cardiovascular disease increases substantially, Pope said in an e-mail. The risk of death from lung cancer is roughly 40 percent higher, and the risk of cardiovascular disease 30 percent higher (see this 2011 study).

Air pollution, of course, is the textbook case of externality: The costs are borne by everyone, not just those responsible for it. In effect, the polluters are subsidized. Hence they pollute too much. In principle the government should step in, either to "internalize the externality" by pushing the cost back on to the polluters or by regulating to similar effect. But that would slow (conventionally measured) economic growth, something China's government has been reluctant to do.

"Air pollution is obviously not one of the priorities of the Chinese elite, who are not responsive to their middle class, and environmental protections would directly conflict with their strategy for economic growth," said Daron Acemoglu, a development economist at the Massachusetts Institute of Technology. This isn't just market failure, he said, but a failure of institutions -- a reflection of China's undemocratic politics. "The Chinese political system does not make it so easy for voices to be heard and actions to be taken in response."

Recently though, the situation has gotten so bad that it's becoming impossible even for China's rulers to ignore. Protests have been on the rise and the government has begun to respond -- for instance, by allowing state media to report levels of small particulates, which it had previously resisted. The government has also announced that somewhat stricter vehicle-fuel standards will be mandatory by the end of next year. That's something. At least it's no longer denying the problem.

If real change starts to happen, it may go further than either the city's choking residents or the Chinese government envisage. Acemoglu said, "As the number of middle-class Chinese people unhappy with air pollution increases, and they come to understand that such problems stem from their lack of political voice, this could be a spark for something bigger."

(Evan Soltas is a student at Princeton University and a contributor to the Ticker. The opinions expressed are his own. Follow him on Twitter.)

To contact the writer of this article: Evan Soltas at esoltas@bloomberg.net.

To contact the editor responsible for this article: Clive Crook at ccrook5@bloomberg.net.

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Rio Tinto faces tough talks in Mongolia over Oyu Tolgoi

Robert Friedland is out here having a good laugh!

Rio Tinto faces tough talks in Mongolia over Oyu Tolgoi

Rio Tinto and its subsidiary, Turquoise Hill Resources, last year fended off an attempt by Mongolia to renegotiate their 2009 investment agreement on the mine.

Author: Terrence Edwards and Sonali Paul
Posted: Friday , 01 Feb 2013


ULAN BATOR/MELBOURNE (REUTERS) -

Rio Tinto faces tough negotiations next week in Mongolia, where the government is under pressure to plug a budget deficit and increase its share of the wealth from the $6.2 billion Oyu Tolgoi copper and gold mine.

Oyu Tolgoi, 34 percent owned by Mongolia and controlled by Rio Tinto, produced its first concentrate this week and is on track to start supplying metal and paying royalties by June.

The success of the mine is crucial for both sides as, at full tilt, Oyu Tolgoi will account for nearly a third of Mongolia’s economy, while Rio Tinto is depending on the mine to drive growth beyond its powerhouse iron ore business.

Rio Tinto is not expected to have to give up a bigger share of the mine, but some analysts say it could end up agreeing to provide more funding in areas like infrastructure to remove uncertainty over a project that is expected to produce 425,000 tonnes of copper and 460,000 ounces of gold a year.

Rio Tinto and its subsidiary, Turquoise Hill Resources Ltd, last year fended off an attempt by Mongolia to renegotiate their 2009 investment agreement on Oyu Tolgoi.

The government is drafting a law that would require Mongolians to hold at least a 34 percent stake in mines, however talk that this would apply to Oyu Tolgoi has died down.

Instead, there is speculation the government may press Rio for more funding outside the agreement, which includes a 5 percent royalty on all sales, as Mongolia faces a revenue squeeze despite being touted as the world's fastest growing economy as recently as 2011.

"It looks as if the government of Mongolia will run a large budget deficit in 2013," said Nick Cousyn, chief operating officer at BDSec, an investment bank in Mongolia.

"How they will close this gap is anyone's guess, but we think unilaterally changing the OT agreement is off the table," he said.

UPPER HAND

In meetings scheduled for next week, the government could question why project costs have blown out, raising concern that Rio Tinto may want to slow development due to the steeper costs, as it has done with other major capital projects.

Rio Tinto executives in Ulan Bator and a spokesman declined to comment on the upcoming talks.

Turquoise Hill last year put the total project cost at $13.2 billion, including developing an underground mine and sustaining capital costs, up from a 2010 estimate of $9.55 billion.

A Bloomberg report this week said Rio was considering a temporarily halt of construction to protest against demands by the government for a bigger stake in the project and new royalty rates.

In response to the report that cited two unnamed sources, Rio Tinto said it remained on schedule to start selling ore from the mine in the first half of the year.

One analyst said the firm may be considering delaying the project's second stage to build an underground mine, but others said it was unlikely to hold up the expansion for too long.

"It's not going to kill the project off because it's a cracking asset," said Hayden Bairstow, an analyst at CLSA.

The feasibility study for the underground mine is due to be finished in the first half of 2013. Construction was estimated last year at $5.1 billion.

ANOTHER WRITEDOWN?

Rio Tinto's latest battle in Mongolia poses a challenge for its new chief executive, Sam Walsh, who replaced Tom Albanese in January after the firm reported $14 billion in writedowns in aluminium and coal.

Walsh may want to smooth relations with the government rather than play tough to ensure that the firm does not have to keep fighting off a clamour for greater Mongolian ownership, CLSA’s Bairstow said.

"When it's effectively a third of GDP, getting the entire country offside isn't a go-forward position that's going to work," he said.

If the firm bowed to some of the government's demands and as a result had to take a small writedown, the market may be forgiving, as it would remove uncertainty, Bairstow said.

The talks with Rio Tinto are part of a wider effort by the government to squeeze more out of the mining industry.

At a meeting on Friday, Mongolian miners complained about the proposed new mining law that would impose taxes on exploration and step up local ownership of resources to as much as 51 percent.

Though one of the aims of the law is to make sure resources stay in Mongolian hands, some local miners are just as worried over the legislation as foreign counterparts.

The proposed law includes heavy fines and could even have a company's licensed land revoked by the government, said Enkhsaikhan Batmunk, director general of Magma Mines.

Another concern is that if the state owns 51 percent of a firm, it will be tough to raise money via a public listing.

But while Mongolians recognised the need for foreign investment, "What's under the ground belongs to them like the sky," said Namgar Algaa, executive director of the Mining Association.

WP humble despite victory

Singaporeans can't take the truth. They don't realise they have got the best possible government, and great, they choose today a surgeon over a true middle class woman who can't speak proper english from a 3rd tier university (and proud of it too!)

Well, I guess the surgeon is thankful he didn't need to give up his practice to serve these type of people.

WP humble despite victory
INSIGHT: DOWN SOUTH By SEAH CHIANG NEE
cnseah05@hotmail.com



INSTEAD of reacting exuberantly, the resurging Workers Party (WP) has been talking up its own political weakness.

What’s more, it has also been heaping praises on the achievements of its rival, the People’s Action Party (PAP), which it defeated in a by-election last week.

What is going on?

Political analysts say one possibility is that they reflect the party’s concern that the current bout of anti-PAP sentiments could spread too quickly and weaken the government before the opposition is ready to take over.

Surprised by its victory, some Singaporeans are seeing it as a prelude to the 2016 general election, with the ruling party suffering further losses.

The campaigning has shown some extent of public bitterness over immigration, high cost of living and over-crowding.

The polling result told part of the story. The government lost the relatively safe Punggol East seat that it won only 20 months ago.

Its 54.5% majority in 2011 was overturned by a shocking 11% vote swing to WP.

More surprisingly, these voters came from a cross section of the people, ranging from young to the ageing, from professionals to blue-collar workers and housewives. It cut across genders and races.

It wasn’t just passive support. Videos of large rallies clearly revealed the strong feeling.

It was not lost to the Workers Party.

A veteran political observer said the WP leadership is apparently concerned that the anti-government sentiments were spreading too quickly for the good of stability.

In a clear sign of caution, the party cancelled the traditional gathering place on Polling Day (Jan 26) for its supporters to await the results.

“We hope you can wait for the results at home,” a statement said. Still, 5,000 noisy fans celebrated in neighbouring Hougang.

Subsequently, leaders advised Singaporeans not to read too much into this victory or to regard it as a future trend.

Instead of firing up party fervour, Secretary-General Low Thia Khiang told Singaporeans that his party was too small to be able to form an alternative government.

“I do not want to give the people false hope,” he added. “We are not ready... We don’t have as many resources as the PAP. This is just the beginning for us.”

It would take at least 20 years before it could challenge the PAP’s dominance.

“I don’t think the Workers Party can challenge PAP’s standards in the near term,” Low told Lianhe Zaobao.

His comments seem to reflect a concern about the possibility of the PAP being voted out of power before his party – or any opposition – is ready to take over.

Low’s humility is not without foundation. The PAP has been in power for nearly 50 years and holds a large arsenal of constitutional and non-legal tools far too powerful for its rivals.

An example: Despite its rising popularity, the Workers Party could only field 23 candidates to contest the 87 Parliament seats in the 2011 election.

This was three candidates more than in the 2006 election.

Although its prospects are brighter now, it is unlikely the party could find enough qualified candidates to contest all seats in three years’ time.

Workers Party chairman Sylvia Lim was also a similar voice of moderation.

Political parties here need to avoid partisan politics, but work for the people, said the Aljunied Member of Parliament.

Lim, who is a lawyer, said: “If you want us to take over the government now, this is not the time. But it doesn’t mean we are not building up towards that day.”

However, in another speech, she praised the ruling party’s economic achievements.

“You have to give credit where credit is due … I think the PAP is very proactive in macro-economic issues and finding niches to make Singapore globally relevant and competitive,” she added.

Such tolerant attitude at a time when public unhappiness against the PAP is rising has raised mixed reactions.

While it has gained the admiration of a broad number of Singaporeans who, although angry, still hanker for a PAP government.

“Most strongly want it to reform itself to care for Singaporeans but are reluctant to vote it out of power – at least for now,” said a former journalist.

It is these people, from the broad middle, that had been turning away from the PAP towards supporting this moderate opposition party.

But it has also suffered some erosion of support from youths who condemn its “meekness” in speaking up against government “excesses”.

These people want faster changes and are relying on more outspoken parties to represent them.

“In this sense a two-party system is inadequate in Singapore. We need one or two more which are more active,” said an analyst.

Arsene Wenger calls on Arsenal fans to believe in current squad

Arsenal needs to fall down to the mid table, and have a reaction to let Arsene go. The team is stuck in netherland, it will not be hunting for glory with this manager.


Arsene Wenger calls on Arsenal fans to believe in current squad

Arsenal fought back from 2-0 down to draw with Liverpool

Jim van Wijk

Thursday, 31 January 2013
Manager Arsene Wenger called on Arsenal fans to keep faith with his squad even if he is not able to add to it on transfer deadline day after they battled back to secure a 2-2 Barclays Premier League draw against Liverpool.


Both sides knew defeat at the Emirates Stadium could prove fatal to their hopes of closing back up on the top four, but neither were ready to settle for anything other than all three points in what developed into an open and entertaining match.

Liverpool took an early lead through Luis Suarez after terrible defending by Arsenal again proved their Achilles heel, and the visitors then looked to be in complete control when Jordan Henderson walked in a second on the hour.

However, as has so often been the case in a frustrating season, the Gunners suddenly burst into life as in-form Olivier Giroud reduced the deficit with a close-range header and Theo Walcott then rattled in an equaliser.

Although his men were unable to complete what would have been a remarkable turnaround, Wenger maintains there is still more to come from the current group.

"This squad is top, top level. We have to learn to trust these players again and to keep faith in them," said Wenger, who revealed full-back Kieran Gibbs was expected to be out for up to three weeks on the sidelines after suffering a thigh injury.

"We have signed a bunch of young, English players who have committed to the club for the next four or five years.

"I think there is a lot to come out of this team, but we have to trust and keep faith with them."

Wenger maintained any talk of a deadline move for Barcelona forward David Villa was dead in the water, while reports continue to link Arsenal with a swoop for West Ham midfielder enforcer Mohamed Diame.

On prospects of a hectic final few hours of the transfer window, the Arsenal manager said: "I cannot promise that. We will work on it."

Wenger admits the loss of Gibbs, who will now miss the England friendly against Brazil at Wembley, was a "big blow".

"Gibbs was an important player for us going forward and the game we want to play. It is a shame he is out for the next three weeks," the Arsenal boss said.

Despite Arsenal's rousing comeback, the Gunners remain four points behind Tottenham, who drew at Norwich, in the race for Champions League qualification and now trail fifth-placed Everton by three points after they beat West Brom.

Wenger, though, feels there are plenty of plusses to take from what was a third match unbeaten.

"We can smell something when we combine like we do. It was a fantastic effort, overall we know what to do to improve and to keep the positives," he said.

"We have to focus on playing football and what we want to do to the opposition.

"I believe the quality is there and we have to trust it and forget what happened in the past."

Wenger added: "We are frustrated because we have not won the game.

"Somewhere they can feel they have given everything, there is a certain sense of feeling they have done their jobs, but you want to win games and we didn't."

PA

CNBC.com Article: Interest Rates Could Spike This Year: Soros

Soros has made so many, just so many dud calls in the past years, he is fallen, and full of rubbish now.

CNBC.com Article: Interest Rates Could Spike This Year: Soros

Rates will rise dramatically as soon as there are clear signs the US economy is picking up, billionaire financier George Soros said in an interview at Davos.

Full Story:
http://www.cnbc.com/id/100401701

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WP 'will keep close watch over Govt'

So far, all WP can do is WATCH.

WP needs better people on board, at least the calibre of those on PAP.

WORKERS' PARTY
WP 'will keep close watch over Govt'


But Government should also be given time to fix shortcomings, says Low

Published on Jan 19, 2013

By Andrea Ong & Robin Chan


WORKERS' Party (WP) chief Low Thia Khiang believes the Government should be given time to correct its shortcomings, even as he pledged that his party will continue to cast a watchful eye.

And while policy changes are still in progress, heightened politicking will not help Singapore, he said in a letter to Punggol East voters, obtained by The Straits Times yesterday.

In an eight-page brochure posted to households, he highlighted the WP's track record in contesting every general election since 1957 and being a "credible and responsible opposition".

However, the veteran MP pointed out: "While the WP will scrutinise and press for accountability from the Government, it is also my personal belief that the Government should be given time to rectify the shortcomings and neglects pointed out to it."

Doing so would "serve the public interest better than continuing to agitate and raise political tension to gain maximum political mileage for WP", as it takes time for policy changes to take effect on the ground, he added.

But, it is "in the interest of Singapore" for citizens to balance a strong executive government with a responsible opposition in Parliament to act as a check and balance and protect their rights.

"WP offers to play the role and to make a positive contribution to Singapore," said Mr Low.

He noted two key areas where the presence of more WP MPs in Parliament has made a difference since the 2011 General Election, when he led a team to victory in Aljunied GRC.

One, ordinary folk now have more say in governance, an improvement from when the country was run by an elite class under the People's Action Party (PAP), with little accountability and transparency, he said.

Two, the WP has championed a more humane society, where a First World nation extends beyond materialistic and elitist goals. "We have seen some changes in that direction," said Mr Low without elaborating.

He reiterated WP's commitment to seeing Singapore progress and PAP improve. But WP must also "be ready one day to be an alternative choice for the people, especially if the ruling party should become incompetent or corrupt".

It is a pledge the party hopes to build on by sending its candidate Lee Li Lian into Parliament.

Ms Lee yesterday unveiled another part of her campaign platform in vowing to champion the welfare of the elderly.

The 34-year-old sales trainer has two proposals for improving their health-care needs.

First, she is calling for Medisave withdrawal limits to be lifted for patients above age 75 - a suggestion the WP had put forth in its 2011 manifesto.

Currently, there are caps on the amount which can be withdrawn from each person's account, such as a maximum of $400 a year for outpatient treatment of chronic diseases.

But Ms Lee pointed out that few people at that age would still have income from work to foot their medical bills.

Spending on their medical care - especially for long-term diseases like diabetes - "has already become a necessity", she told The Straits Times.

Second, elderly patients should not have to queue up at polyclinics to get referrals for subsidised treatment at public hospitals. She suggested expanding the existing Community Health Assist Scheme (CHAS), where patients satisfying certain criteria can get subsidised treatment at general practices.

Now, many elderly patients have to walk "quite a distance" or take a bus to the polyclinic to be referred, some arriving as early as 4am to beat the queue, she said.

This is "physically draining as well as troublesome for them", said Ms Lee, who hopes patients can just visit CHAS clinics near their homes to get referrals.

Jackie Chan to America: 'It’s Not Me. It’s You.'

That's what a drunk man always says.

CNBC.com Article: Jackie Chan to America: 'It's Not Me. It's You.'

Jackie Chan's evolution toward a more vocal pro-Beijing stance has become more pronounced in both his movies and his politics.

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