Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Wall Street jumps; Nasdaq near 12-year high

NEW YORK (Reuters) - Stocks climbed on Friday, pushing the S&P 500 to a fresh five-year high and putting the Nasdaq within a hair of a 12-year intraday high, following a batch of encouraging domestic and international economic reports.


Data showing stronger international trade in China and Germany, and a report indicating the U.S. trade deficit had narrowed in December, pointed to improving global demand.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1 percent. Gains in LinkedIn Corp and AOL Inc following their quarterly results helped the sector.


The benchmark S&P 500 <.spx>, up more than 6 percent for the year, is on track for six straight weeks of gains for the first time since August 2012.


But an advance has been tougher in recent days as investors await strong trading incentives to drive the index further upward.


"I think we're in the middle of a trading range and I'd put plus or minus 5 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> was up 40.94 points, or 0.29 percent, at 13,984.99. The Standard & Poor's 500 Index <.spx> was up 7.72 points, or 0.51 percent, at 1,517.11. The Nasdaq Composite Index <.ixic> was up 27.94 points, or 0.88 percent, at 3,193.08.


The Nasdaq was just 3 points shy of its highest level since November 2000.


Shares of LinkedIn jumped 21.1 percent to $150.31 after announcing quarterly profits and giving a bullish forecast for the year.


AOL Inc shares rose 7.5 percent to $33.77 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 4.2 percent at 12.94. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Data showed Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand, while German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


(Additional reporting by Angela Moon; Editing by Bernadette Baum and Nick Zieminski)



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Wall Street falters on euro zone jitters

LOS ANGELES (TheWrap.com) - "The Avengers," or at least most of the members of the world-saving crew, will assemble on the stage of this year's Academy Awards. Castmates Robert Downey Jr., Chris Evans, Samuel L. Jackson, Jeremy Renner and Mark Ruffalo will present an Oscar together, show producers Craig Zadan and Neil Meron announced Wednesday. Missing in action are Scarlett Johansson, who played Black Widow but is currently starring in a revival of "Cat on a Hot Tin Roof" on Broadway, and Chris Hemsworth, who plays Thor. ...
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Wall Street pulls back after recent gains

NEW YORK (Reuters) - Stocks drifted lower on Wednesday as investors pulled back after the recent push to five-year highs on the S&P 500 and as worries about political problems in Europe weighed on sentiment.


Transportation stocks were among the worst performers, pressured by a 9.7 percent drop in CH Robinson Worldwide to $60.48 after the freight transport company posted a lower-than-expected adjusted quarterly profit.


The benchmark S&P 500 index has advanced 6 percent this year and reached to its highest since December 2007. The Dow industrials <.dji> have risen above 14,000 recently, making it a challenge for investors to push stocks higher in the absence of strong positive catalysts.


"The market is starting to feel a little tired, though we're holding together. I think a lot of people are wondering whether this (up trend) continues," said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago.


Also, investors have been speculating about leadership changes in Spain and Italy, as well as watching for comments from European leaders. European Central Bank policymakers are due to meet Thursday.


The Dow Jones industrial average <.dji> was down 27.37 points, or 0.20 percent, at 13,951.93. The Standard & Poor's 500 Index <.spx> was down 3.66 points, or 0.24 percent, at 1,507.63. The Nasdaq Composite Index <.ixic> was down 12.27 points, or 0.39 percent, at 3,159.31.


Both the S&P 500 and Nasdaq rose more than 1 percent on Tuesday.


The Dow Jones Transportation average <.djt> was down 0.4 percent after hitting another record high on Tuesday. The average is up 10.4 percent for the year so far and has made a series of new highs since mid-January.


Among shares trading higher, Time Warner Inc jumped 4.4 percent to $52.18 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.


Walt Disney Co was up 0.7 percent at $54.66, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)



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Wall Street climbs on results; Dow above 14,000

NEW YORK (Reuters) - Stocks climbed on Tuesday, pushing the Dow above 14,000 a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.


All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent.


Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.3 percent to $13.44 after a delayed open.


The market's bounce follows a sell-off on Monday that gave the S&P 500 its biggest percentage decline since mid-November. Still, the benchmark is up about 5 percent since the start of the year and is less than 5 percent away from its all-time intraday high of 1,576.09 in October 2007.


Analysts said fourth-quarter results have been among the positives for the market. On Tuesday, Archer Daniels Midland reported revenue and adjusted fourth-quarter earnings that beat expectations, boosted by strong global demand for oilseeds. Shares rose 3.4 percent to $29.40.


"This quarter was one that had relatively low expectations coming into it, but the beats on the earnings and on the revenue side have been pretty good, particularly on the revenue side," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.


"And in the aggregate so far, the earnings growth is just under 5 percent, and that's relieved those who thought maybe the earnings picture was deteriorating to the point where we would see surprisingly poor earnings."


The Dow Jones industrial average <.dji> was up 121.49 points, or 0.88 percent, at 14,001.57. The Standard & Poor's 500 Index <.spx> was up 16.95 points, or 1.13 percent, at 1,512.66. The Nasdaq Composite Index <.ixic> was up 40.79 points, or 1.30 percent, at 3,171.96.


Also in earnings, Estée Lauder Cos Inc reported a higher quarterly profit and raised its full-year profit forecast. The stock rose 5.7 percent to $64.52.


With results in for more than half of the S&P 500 companies, 69 percent have beaten profit expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are expected to rise 4.5 percent, according to the data, above the 1.9 percent forecast at the start of earnings season.


On the down side, McGraw-Hill shares slumped 7.5 percent to $46.51 after the Justice Department filed a civil lawsuit against it seeking $5 billion over mortgage bond ratings. Standard & Poor's, a McGraw Hill unit, was accused of inflated ratings and understated risks out of a desire to gain more business from investment banks.


On Monday, the stock suffered its worst one-day decline since the 1987 market crash.


(The story corrects year of S&P 500 all-time intraday high to 2007 from 2011. The error occurred in earlier updates. In final paragraph removes word "market")


(Additional reporting By Angela Moon; Editing by Kenneth Barry)



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Wall Street pulls back after recent gain; data disappoints

NEW YORK (Reuters) - Stocks dropped on Monday, pulling back from gains in the prior session that left the S&P 500 at a five-year high and the Dow above 14,000, as factory orders data disappointed and worries about the euro zone crisis resurfaced.


The S&P 500 was on track for its biggest daily percentage decline since December 28. Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades.


"The market is due for a pullback. That's not really a surprise. I think people are looking for an excuse to make sales," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.


Data from the Commerce Department showed overall factory orders for December were below economists' expectations.


The Dow Jones industrial average <.dji> was down 120.19 points, or 0.86 percent, at 13,889.60. The Standard & Poor's 500 Index <.spx> was down 14.65 points, or 0.97 percent, at 1,498.52. The Nasdaq Composite Index <.ixic> was down 40.53 points, or 1.27 percent, at 3,138.57.


The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.


The S&P index <.spx> is up 5.5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.


The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped more than 10 percent to 14.48 by afternoon trade.


Chevron Corp dipped 0.9 percent to $115.50 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.1 percent to $69.69 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.


Shares of household products company Clorox rose 1.3 percent to $80.23 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.


According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent fourth-quarter earnings forecast on October 1.


Herbalife Ltd slumped 2.5 percent to $34.16 after the New York Post newspaper reported the seller of weight loss products is facing a probe by the Federal Trade Commission.


(Additional reporting by Angela Moon; Editing by Kenneth Barry and Nick Zieminski)



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GOP Senator: Super Bowl Blackout Could Add Momentum to Energy Policy






The Super Bowl blackout could provide the momentum for energy policy like the Hispanic vote has done for immigration reform, according to Senate Energy and Natural Resources Ranking Member Lisa Murkowski, R-Alaska.


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“This issue of immigration: Why are we all focused on that? Well, it’s because the Republicans lost the election because in part we did not have the Hispanic community behind us,” Murkowski said Monday. “What is it that brings about that motivation? Maybe it could be something like a gap in the Super Bowl causes the focus on energy that we need to have. I can only hope.”


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Judging by the discourse on Capitol Hill on Monday, it doesn’t appear the blackout is having any substantive impact on momentum for much of anything policy-related—at least not yet.


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During Sunday’s Super Bowl game played in New Orleans, the power to the stadium went out for 34 minutes. The outage was reportedly caused by an “abnormality” of the electrical system, operated by Entergy, according to company and stadium officials quoted in articles.


RELATED: A Record 111.3 Million Viewers for the Super Bowl


In unveiling her blueprint for energy policy recommendations Monday, Murkowski said the game’s electricity woes helped her put into context her report.


RELATED: Super Bowl XLVII Might Be the Most Watched Ever


“I really didn’t have an idea when that game first started how 34 minutes was going to help me tell the energy story,” Murkowski said at a press conference. “I know it delayed the game a little bit, but it was sure helpful from the perspective of letting Americans know how important energy is in their daily worlds.”


Energy News Headlines – Yahoo! News





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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



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Exxon’s 2012 profit of $44.9B just misses record






Exxon Mobil Corp. nearly set a record for annual profit. The oil giant reported Friday that 2012 net income was $ 44.88 billion, just $ 340 million — less than 1 percent — short of the company’s record set in 2008, when crude oil prices hit an all-time high. Exxon‘s profit for the last 10 years totals $ 343.4 billion.


— $ 44.88 billion in 2012






— $ 41.06 billion in 2011


— $ 30.46 billion in 2010


— $ 19.28 billion in 2009


— $ 45.22 billion in 2008


— $ 40.61 billion in 2007


— $ 39.50 billion in 2006


— $ 36.13 billion in 2005


— $ 25.33 billion in 2004


— $ 20.96 billion in 2003


Source: Exxon Mobil annual reports filed with the U.S. Securities and Exchange Commission


Energy News Headlines – Yahoo! News





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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



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Surviving the Future of Climate Change: Saturday, February 2, 9 11:30 PM ET [Live Stream]








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Wall Street rises on jobs, factory data, Dow passes 14,000

NEW YORK (Reuters) - Stocks rose to five-year highs on Friday after jobs and manufacturing data showed the economy's recovery remains on track.


The Dow industrials rose above 14,000 for the first time since mid-October 2007 and the S&P touched its highest since December of that year. The S&P advanced 5 percent in January for its best start to a year since 1997 and is now just about 60 points away from its all-time intraday high of 1,576.09.


Analysts attributed the market's robust showing so far this year partly to a deluge of cash flowing into equities.


Investors poured $12.7 billion into U.S.-based stock mutual funds and exchange-traded funds in the latest week, concluding the strongest four-week flows into stock funds since 1996, data showed on Thursday.


"Fundamentals are looking good today after the data, but overall the money that was on the sidelines is finally coming into the market again," said Doug Cote, chief market strategist at ING Investment Management.


Employment grew modestly in January, with 157,000 jobs added in the month, slightly below expectations for 160,000. But Labor Department revisions showed 127,000 more jobs were created in November and December than previously reported.


Other reports released Friday showed the pace of growth in the U.S. manufacturing sector picked up in January to its highest level in nine months, U.S. consumer sentiment rose more than expected last month, while December construction spending also beat forecasts.


"All the data seems to keep pointing to a slowly, steadily improving economy," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.


The Dow Jones industrial average <.dji> was up 150.14 points, or 1.08 percent, at 14,010.72. The Standard & Poor's 500 Index <.spx> was up 15.11 points, or 1.01 percent, at 1,513.22. The Nasdaq Composite Index <.ixic> was up 38.50 points, or 1.23 percent, at 3,180.63.


With the day's gains, major equity indexes were on track for a fifth straight week of gains. The S&P 500 is also coming off its best monthly performance since October 2011.


Google shares briefly hit an all-time high of $774.92 before retreating to trade 2.5 percent higher at $774.54.


Investors were also attuned to corporate earnings, with a trio of Dow components reporting profits that beat expectations.


Exxon Mobil was little changed at $89.95 after its results while Chevron added 1 percent to $116.34.


Drugmaker Merck & Co fell 2.7 percent to $42.10 after a cautious 2013 outlook.


Generic drugmaker Perrigo reported a better-than-expected second-quarter profit and its shares jumped 5.5 percent to $106.01.


Of the 252 companies in the S&P 500 that have reported earnings so far, 69 percent have exceeded expectations, according to Thomson Reuters data. That is a higher proportion than over the past four quarters and above average since 1994.


Overall, S&P 500 fourth-quarter earnings are estimated to have grown 4.4 percent, according to the data, up from a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1.


Dell Inc gained 4.2 percent to $13.80 after sources said the company was nearing an agreement to sell itself to a buyout consortium led by its founder, Michael Dell, and private equity firm Silver Lake Partners.


Shares of General Motors and Ford Motor rose after the two largest American automakers posted better-than-expected U.S. auto sales for January.


GM gained 1.2 percent to $28.42 and Ford added 0.9 percent to $13.07.


Shares of Zoetis surged on its trading debut on the New York Stock Exchange after its shares were priced at $26, above the expected range. Zoetis was trading at $30.67 at midday after earlier climbing as high as $31.74.


(Reporting By Angela Moon; Editing by Kenneth Barry)



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NASA marks 10 years since loss of Columbia, crew






CAPE CANAVERAL, Fla. (AP) — Schoolchildren joined NASA managers and relatives of the lost crew of space shuttle Columbia on Friday to mark the 10th anniversary of the tragedy and remember the seven astronauts who died.


More than 300 people gathered at Kennedy Space Center for the outdoor ceremony, just a few miles from where Columbia was supposed to land on Feb. 1, 2003, following a 16-day science mission. It never made it, bursting apart in the sky over Texas, just 16 minutes from home.






Representing the families of the Columbia seven, the widow of commander Rick Husband told the hushed audience that the accident was so unexpected and the shock so intense, “that even tears were not freely able to fall.”


“They would come in the weeks, months and years to follow in waves and in buckets,” said Evelyn Husband Thompson.


She assured everyone, though, that healing is possible and that blessings can arise from hardships. She attended the ceremony with her two children, her second husband and Sandra Anderson, widow of Columbia astronaut Michael Anderson.


“God bless the families of STS-107,” said Thompson, referring to the mission designation for Columbia’s last mission. “May our broken hearts continue to heal and may beauty continue to replace the ashes.”


A pair of songs added to the emotion of the day. The young nephew of a NASA worker performed a song he wrote, “16 Minutes from Home,” on the keyboard, along with a vocalist. And Grammy award-winning BeBe Winans, an R&B and gospel singer, performed “Ultimate Sacrifice,” which he wrote for soldiers serving overseas in harm’s way.


As it turns out, Anderson had taken a CD of Winans’ music took into orbit with him. It was recovered in the debris that rained down on East Texas that fateful morning. Winans did not know that until it was mentioned at Friday’s ceremony.


“I honor you today, I really do honor the families and those who have given the ultimate sacrifice,” he added. Some in the crowd wiped away tears as he sang.


Also present were 44 students from Israel, the homeland of Columbia astronaut Ilan Ramon. He was Israel’s first astronaut.


The teenagers were proud to note that they go to the same school as Ramon once did. They wore white sweat shirts with an emblem of their nation’s first spaceman and the religious items he took into orbit.


“He represented Israel in the best way possible, so I think it’s an honor for us to be here,” said Eden Mordechai, 15.


The other Columbia crew members were co-pilot William McCool, Kalpana Chawla, Dr. Laurel Clark and Dr. David Brown.


NASA’s human exploration chief, Bill Gerstenmaier, said no single person or event caused the Columbia disaster. Rather, “a series of technical and cultural missteps” were to blame, dating back to the first shuttle launch in 1981 when fuel-tank foam insulation started coming off and doing damage.


A chunk of foam punched a hole in Columbia’s left wing during liftoff, leading to the catastrophic re-entry.


The astronaut who led the charge back to shuttle flight two years later, Eileen Collins, stressed that the 30-year shuttle program had its share of successes along the way and achieved its ultimate goal, building the International Space Station. The shuttles were retired in 2011.


“We still miss you,” Collins said of the Columbia seven. “How can we ever thank you for your contributions to the great journey of human discovery.”


The hourlong ceremony was held in front of the huge black granite monument bearing the names of all 24 astronauts who have died in the line of NASA duty. The three-man crew of Apollo 1 died in the Jan. 27, 1967, launch pad fire. The Challenger seven were killed Jan. 28, 1986, during liftoff. Husband and his crew honored them during their own flight, just four days before dying themselves.


On Friday, the names of each of the dead were read aloud. Afterward, mourners placed carnations and roses on the grating in front of the mirror-faced monument.


“I felt compelled to be here to memorialize those who were a big part of my life,” said David Nieds, 39, a grocery store manager who got up early to drive from Fort Lauderdale with his mother and 16-year-old nephew.


He attended dozens of launches. Some people like sports, he explained, while he follows the space program.


Memorial services also were held at Arlington National Cemetery, where three of the Columbia crew are buried; in East Texas, where the shuttle wreckage fell; and in Israel.


Space and Astronomy News Headlines – Yahoo! News





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Market treads water ahead of Friday's employment data

NEW YORK (Reuters) - Stocks were little changed on Thursday as investors were cautious after a mixed bag of economic data, while stellar earnings from chipmaker Qualcomm helped the Nasdaq index to edge higher.


The S&P 500 is on track to post its best month since October 2011 and its best January since 1997.


Investors expect a pullback in equities after the recent gains, though they have bought on dips over the past four weeks. The largest daily decline on the S&P 500 so far in 2013 was Wednesday's 0.39 percent drop after data showed the economy contracted in the fourth quarter of 2012.


On Friday, the government is due to release figures on January's non-farm payrolls, which are expected to show employers added 160,000 jobs in January after a rise of 155,000 in December.


"It's the calm before the potential storm. The uncertainty about tomorrow's numbers comes from that fact that we had a decent ADP report but the weekly claims were not so great," said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.


"We could see an overly sensitive market to a bad number tomorrow, given that we've been up without a major correction, and that makes the market sensitive to the downside."


Data on Thursday showed a slight rise in weekly jobless claims and incomes growing at the best pace since 2004, underscoring how fragile the economic recovery still was.


Friday will also bring reports on consumer confidence, U.S. manufacturing, construction spending and car sales.


Qualcomm gained 4.4 percent to $66.32 as the top boost to the Nasdaq Composite after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its targets for the year.


Facebook shares fell 0.8 percent to $31.01 after falling as low as $28.74 a day after the social network company said it doubled its mobile advertising revenue in the fourth quarter. However, growth trailed some of Wall Street's most aggressive estimates.


The Dow Jones industrial average <.dji> was down 7.50 points, or 0.05 percent, at 13,902.92. The Standard & Poor's 500 Index <.spx> was up 0.36 points, or 0.02 percent, at 1,502.32. The Nasdaq Composite Index <.ixic> was up 6.99 points, or 0.22 percent, at 3,149.29.


The S&P 500 has advanced more than 5 percent in January after legislators in Washington temporarily sidestepped a "fiscal cliff" of automatic tax increases and spending cuts that could have derailed the recovery. Better-than-expected corporate earnings have added to the gains.


It would be the benchmark's largest monthly advance since a more than 6 percent gain in October 2011 and the best January advance since a 6.1 percent jump in 1997.


UPS shares lost 2.1 percent to $79.50 after reporting fourth-quarter earnings that were below analysts' estimates on Thursday and forecasting weaker-than-expected profit for 2013.


Constellation Brands shares tumbled 16.4 percent to $32.72 after the U.S. Justice Department moved to stop Anheuser-Busch InBev from buying the half of Mexican brewer Grupo Modelo that it does not already own. Constellation would have distributed Corona beer in the United States if the transaction had been approved.


Tank barge operator Kirby Corp added 6.3 percent to $70.67 and transportation company Ryder Systems climbed 4.8 percent to $56.84 after posting quarterly results.


Thomson Reuters data through Thursday morning shows that of the 231 companies in the S&P 500 that have reported earnings this season, 69.3 percent have exceeded expectations, a higher proportion than over the past four quarters and above the average since 1994.


Overall, S&P 500 fourth-quarter earnings are forecast to have risen 3.7 percent. That's above a 1.9 percent forecast at the start of the earnings season but well below a 9.9 percent profit growth forecast on October 1, the data showed.


Slot machine maker WMS Industries surged 51.7 percent to $24.84 after the company agreed to be acquired by Scientific Games for $26 per share in cash. Scientific Games jumped 5 percent to $9.38.


(Reporting By Angela Moon; Editing by Nick Zieminski)



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IKEA Becomes Florida’s Largest Non-Utility Solar Owner






When IKEA plugged in its 4,368-panel, 1,057 kW solar energy system this week at its store in Sunrise, Fla., it became the owner of the largest solar installation in the southern part of the state and also the state’s largest non-utility solar owner. Here are the details.


* IKEA reported that the 101,774-square foot PV array at its Sunrise store will produce 1,554,600 kWh of clean electricity each year — the equivalent of eliminating the emissions of 210 cars or powering 134 homes.






* The Sunrise installation marks the 35th completed solar project for IKEA in the U.S. With four more locations under way, the company stated, there will soon be solar presence at 90 percent of IKEA’s U.S. locations.


* “IKEA owns and operates each of its solar PV energy systems atop its buildings — as opposed to a solar lease or PPA (power purchase agreement) — and globally has allocated $ 1.8 billion to invest in renewable energy through 2015,” the company stated.


* The company stated that it has a goal of being energy-independent by 2020, and has installed 250,000 solar panels on its buildings across the world. Additionally, it owns and operates approximately 110 wind turbines in Europe.


* According to the Solar Energy Industries Association, as of August, IKEA was fourth on the list of top 20 companies by solar capacity, with a total installed capacity of 21,495 kW.


* Leading the top 20 list is Walmart Stores, Inc., with 65,000 kW of installed solar capacity as of Aug. Walmart is followed by Costco Wholesale and Kohl’s Department Stores.


* As of the Solar Energy Industries Association‘s August rankings, IKEA was seventh on the list of the top companies by number of solar electricity systems, with 30, meaning it has added five systems since them. Walmart topped that list as well, with 144 systems.


* “The companies ranked here and many more continue to expand their investments in solar energy at a rapid pace,” stated the Solar Energy Industries Association. “Companies such as Apple, which has a 20 MW system under construction at a data center in North Carolina, have announced plans for major solar deployment. General Motors has ambitious plans to install 125 MW of renewables by 2020 as well.”


* According to the Solar Energy Industries Association, businesses, non-profits, schools and public agencies are expected to add 7,000 MW of additional PV systems over the next five years, enough to replace seven retiring coal power plants.


Energy News Headlines – Yahoo! News





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Wall Street ends down after Fed statement


NEW YORK (Reuters) - Stocks fell on Wednesday after the Federal Reserve said in its latest statement that economic growth had stalled but indicated the pullback was likely temporary.


Based on the latest available data, the Dow Jones industrial average <.dji> was down 44.23 points, or 0.32 percent, at 13,910.19. The Standard & Poor's 500 Index <.spx> was down 5.89 points, or 0.39 percent, at 1,501.95. The Nasdaq Composite Index <.ixic> was down 11.35 points, or 0.36 percent, at 3,142.31.


(Reporting By Caroline Valetkevitch; Editing by Kenneth Barry)



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Columbia’s 7 astronauts were close, diverse crew






CAPE CANAVERAL, Fla. (AP) — The seven astronauts who died aboard space shuttle Columbia 10 years ago were husbands, fathers, wives and a mother. Military pilots, doctors and engineers. Born in the United States, Israel and India.


“It’s amazing to me how cohesive they were with the diverse backgrounds that they had,” said the widow of Columbia‘s last commander, Evelyn Husband Thompson.






“They had a genuine affection for each other that was just tremendous. And they had fun together. I mean, what a blessing at whatever job you’re in, to have fun with your co-workers,” she said in a phone interview from Houston this week.


A brief look at the seven Columbia astronauts and their immediate survivors:


___


Commander Rick Husband, 45, an Air Force colonel from Amarillo, Texas, who was making his second space shuttle flight. Wife Evelyn lives in Houston with 17-year-old son Matthew, a high school sophomore, and new husband Bill Thompson. Daughter Laura, 22, is a seminary student pursuing a master’s degree in theology. The ordeal, and the family’s faith in God, prompted Evelyn to write a memoir about Rick in 2004 titled “High Calling.”


___


Co-pilot William McCool, 41, a Navy commander from Lubbock, Texas, who was making his first space shuttle flight. Wife Lani and three sons, now in their 20s and 30s. The oldest, Sean, is a Marine captain with three children of his own. Middle son Christopher is a photographer who works with high school debate teams, according to family. The youngest, Cameron, is finishing a master’s degree in fine arts in New York.


___


Flight engineer Kalpana Chawla, 40, an Indian-born engineer who was making her second space shuttle flight. Husband Jean-Pierre Harrison remarried and has a young son. He runs a publishing company in Los Gatos, Calif., and, in 2011, wrote what he calls the authoritative biography of his first wife, “The Edge of Time.” He reveals how Kalpana’s birthdate was misrepresented to be a year earlier than it actually was, so she could start school sooner at her insistence.


___


Payload commander Michael Anderson, 43, a lieutenant colonel in the Air Force from Spokane, Wash., and one of NASA‘s few early black astronauts. Wife Sandra still lives in Houston. Daughters Kaycee and Sydney are now 19 and 21.


___


Dr. Laurel Clark, 41, a Navy captain and medical doctor from Racine, Wis., who was making her first space shuttle flight. Husband Jonathan Clark, a former NASA flight surgeon. Son Iain, 18, will graduate from boarding school in Arizona this spring. Clark has dedicated himself to improving space crew safety, and helped bring skydiver Felix Baumgartner back alive from a 24-mile-high jump from the stratosphere last fall.


___


Dr. David Brown, 46, a Navy captain and medical doctor who grew up in Virginia and was making his first space shuttle flight. He was single.


___


Ilan Ramon, 48, a fighter pilot who became the first Israeli in space with Columbia’s launch. Wife Rona lives in Israel. Their oldest son, Asaf, became a fighter pilot like his father and died, at age 21, in a 2009 training accident. One surviving son is a combat soldier in Israel; another is studying music in college. The youngest, a daughter, is 15. Rona Ramon went back to school after her son’s death. She works as a grief counselor.


___


Online:


NASA: http://history.nasa.gov/columbia/index.html


NASA: http://columbia.nasa.gov/


Space and Astronomy News Headlines – Yahoo! News





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Wall Street edges up as defensive stocks extend rally


NEW YORK (Reuters) - Stocks advanced on Tuesday, led by defensive sectors, in a sign the cash piles recently moving into the market are being put to use by cautious investors to pick up more gains.


The Dow Jones industrial average <.dji> gained 72.87 points, or 0.52 percent, to 13,954.80. The Standard & Poor's 500 Index <.spx> gained 7.70 points, or 0.51 percent, to 1,507.88. The Nasdaq Composite Index <.ixic> dropped 0.64 points, or 0.02 percent, to 3,153.66.


(Reporting By Edward Krudy; Editing by Nick Zieminski)



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Getting In Shape at Work Is Easier Than You Think






You may want to think twice before taking the elevator to your office or ordering in for lunch. New research has found that small periods of activity which add up to 30 minutes a day worth of exercise can be just as beneficial as longer bouts of physical activity.


That research found that small increments of exercise, even as short as one or two minutes at a time, can help to prevent metabolic syndrome, high blood pressure and high cholesterol as long as the exercise adds up to a half hour a day.  






“Our results suggest that engaging in an active lifestyle approach, compared to a structured exercise approach, may be just as beneficial in improving various health outcomes,” said Paul Loprinzi, assistant professor at Bellarmine University and lead author of the study. “We encourage people to seek out opportunities to be active when the choice is available. For example, rather than sitting while talking on the phone, use this opportunity to get in some activity by pacing around while talking.”


Additionally, researchers found that 43 percent of people who participated in short activity bursts met a 30-minute-a-day threshold for exercise. On the other hand, just 10 percent of those who exercised for longer periods met that threshold.


“This is a more natural way to exercise, just to walk more and move around a bit more,” said Brad Cardinal, study co-author and an professor of social psychology of physical activity and co-director of the sport and exercise psychology program. “We are designed by nature as beings who are supposed to move. People get it in their minds, if I don’t get that 30 minutes, I might as well not exercise at all. Our results really challenge that perception and give people meaningful, realistic options for meeting the physical activity guidelines.”


The researchers say that the short bursts of activity are more conducive to fit the schedules of busy workers who may not otherwise have the time to do so. Those short bursts of energy can be as simple as walking around the office or doing push-ups and sit ups during a commercial break when watching TV.  However, the researchers caution that short periods of activity do not help very much in weight loss.


“In our society, you will always be presented with things that entice you to sit or be less active because of technology, like using a leaf blower instead of a rake,” Cardinal said. “Making physical activity a way of life is more cost-effective than an expensive gym membership. You may be more likely to stick with it, and over the long term, you’ll be healthier, more mobile and just feel better all around.”


The research was based on the responses of 6,000 adults and was published in the current issue of the American Journal of Health Promotion.


This story was provided by BusinessNewsDaily, a sister site to LiveScience. Follow David Mielach on Twitter @D_M89 or BusinessNewsDaily @bndarticles. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Dow, S&P 500 near flat after rally; Apple boosts Nasdaq

NEW YORK (Reuters) - The Dow and S&P 500 were nearly flat on Monday as a four-week rally stalled, while a rebound in Apple shares helped buoy the Nasdaq.


Caterpillar shares helped cap losses in the Dow industrials even as the company posted a 55 percent drop in quarterly profit due to a charge connected with accounting fraud at a Chinese subsidiary and weak demand among its dealers. Caterpillar's shares, down 2.2 percent in the past three sessions, rose 1.5 percent Monday to $96.97.


Boeing , down 1.2 percent at $74.14, shares led decliners on the Dow. The aircraft maker risks losing about $5 billion in revenue by the grounding of its 787 Dreamliner fleet, according to a Bloomberg report.


The S&P 500 is coming off a streak of eight sessions of gains, the longest in eight years, but the index remained above 1,500. It ended above that level on Friday for the first time in more than five years.


"I think this multi-year high is really something that's in play both for short-term traders and for folks with money on the sidelines," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


Investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record, research provider TrimTabs Investment Research said.


Bargain hunters lifted Apple after the tech giant's stock dropped 14.4 percent in the previous two sessions. With Apple's stock up 2.4 percent at $450.29, the iPad and iPhone maker regained the title as the largest U.S. company by market capitalization as Exxon Mobil fell 0.9 percent to $90.94 and slipped back to second place.


The Dow Jones industrial average <.dji> was up 10.70 points, or 0.08 percent, at 13,906.68. The Standard & Poor's 500 Index <.spx> was down 0.50 points, or 0.03 percent, at 1,502.46. The Nasdaq Composite Index <.ixic> was up 9.37 points, or 0.30 percent, at 3,159.08.


Data on Monday pointed to growing economic momentum as companies sensed improved consumer demand.


Thomson Reuters data showed that of the 150 companies in the S&P 500 that have reported earnings so far, 67.3 percent have beaten analysts' expectations, which is a higher proportion than over the past four quarters and above the average since 1994.


U.S. durable goods orders jumped 4.6 percent in December, a pace that far outstripped expectations for a rise of 1.8 percent. Pending home sales unexpectedly dropped 4.3 percent. Analysts were looking for an increase of 0.3 percent.


Equities have also gained support from a recent agreement in Washington to extend the government's borrowing power. On Monday, Fitch Ratings said that agreement removed the near-term risk to the country's 'AAA' rating.


Hess Corp shares shot up 6.3 percent to $62.59 after the company said it would exit its refining business, freeing up to $1 billion of capital. Separately, hedge fund Elliott Associates is looking for approval to buy about $800 million more in Hess stock.


(Additional reporting by Rodrigo Campos; Editing by Jan Paschal and Nick Zieminski)



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‘Charities’ Funnel Millions to Climate-Change Denial






A British newspaper claims to have discovered the convoluted way oil billionaires in the United States can funnel huge amounts of cash toward climate change-denial campaigns, while reaping tremendous tax advantages in the process.


A shadowy group called the Donors Trust is largely funded by billionaire Charles Koch and his wife Liz, according to an investigation by The Independent. The trust indirectly receives millions of dollars in funding from a third-party group called the Knowledge and Progress Fund, which the Koch family operates, the paper claims.






Charles Koch and his brother David are majority shareholders in Koch Industries, an immense conglomeration of oil and gas companies with a global reach — and a definite interest in denying any link between fossil-fuel use and climate change.


A recent profile in Forbes called Charles Koch “one of the 50 most powerful people in the world, one of the 20 wealthiest — and one of the dozen most vilified.”


The IRS recognizes the Donors Trust as a charitable organization due to its status as a “donor-advised trust.” These trusts “are individual accounts administered by tax-exempt organizations, such as community foundations and national charities,” according to the Wall Street Journal.


Because the IRS considers these organizations charitable groups, money donated to them is tax-deductible, and the popularity of such trusts is growing quickly. Contributions to donor-advised trust funds increased 10.6 percent in 2011 over 2010, the Journal reports. [The Reality of Climate Change: 10 Myths Busted]


“It’s becoming the vehicle of choice,” said Robert Brulle, a sociologist at Drexel University in Philadelphia, referring to the donor-advised trust. “It’s an attractive conduit of funding to these conservative think tanks,” Brulle told LiveScience.


But what do the recipients of the estimated $ 500 million in donor funding since 2003 actually do with the money? “A lot of it is just unknown,” said Brulle. “It goes into the black box of Donors Trust” where the money is, for the most part, untraceable.


The website for Donors Trust provides some clues to their interests: “The current environment on university campuses values Diversitas over Veritas — but cultural diversity is a poor substitute for truth, which must be the prevailing aim of the university. And discovering truth is impossible without a commitment to freedom of inquiry and the broadest possible range of viewpoints — what we call intellectual pluralism.


“Typically, we provide top-notch professors with substantial seed capital, spread over three years. After these professors have demonstrated progress with their ‘centers,’ we assist them in identifying other funding sources — alumni, institutional or foundations — to sustain their efforts.”


According to the Independent’s investigation, Donors Trust has given significant funding to the Competitive Enterprise Institute, a right-wing think tank. Climatologist Michael Mann of Pennsylvania State University has sued that group, claiming it accused him of scientific fraud and compared him to a child molester. (Nine investigations of Mann’s climate research, including one by the U.S. Environmental Protection Agency and another by the National Science Foundation, have found no evidence of academic fraud. The CEI removed the harsh claims several days after publication.)


Mann, however, remains committed to promoting a science-based approach to climate change. “I like to think we’re turning the corner on this issue. The damaging impacts that climate change is already having on us here in the U.S. … are increasingly clear to the person on the street,” Mann told LiveScience in an email interview.


“Climate-change denial, despite the great degree of funding and organization behind it, is simply no longer credible to the vast majority of the public,” Mann said. “It is my hope — and my expectation — that we will soon transition from the unworthy debate about whether the problem even exists to the worthy debate to be had about what to do about it.”


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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