Sunday, December 18, 2011

Death toll in Philippine floods rises to 436 (AP)

MANILA, Philippines ? Pounding rain from a tropical storm swelled rivers and sent walls of water crushing into two southern Philippine cities in the thick of night, killing at least 436 people, many caught in their beds, officials said Saturday.

Philippine Red Cross Secretary General Gwen Pang told The Associated Press that the latest toll was based on a body count in funeral parlors. She said that 215 died in Cagayan de Oro and 144 in nearby Iligan, and the rest in several other southern and central provinces.

Most of the dead were asleep Friday night when raging floodwaters tore through their homes from swollen rivers and cascaded from mountain slopes following 12 hours of pounding rain in the southern Mindanao region. The region is unaccustomed to the typhoons that are common elsewhere in the archipelago nation.

Many of the bodies in parlors were unclaimed, indicating that entire families had perished, Pang said.

The number of missing was unclear Saturday night. Before the latest Red Cross figures, military spokesman Lt. Col. Randolph Cabangbang said about 250 people were still unaccounted for in Iligan.

Thousands of soldiers backed up by hundreds of local police, reservists, coast guard officers and civilian volunteers were mobilized for rescue efforts and to clean up after the massive deluge that left the two coastal cities strewn with debris, trash, overturned vehicles and toppled trees.

Many roads were cut off and there was no electricity, hampering relief efforts.

Some of the dead were swept out to sea from Cagayan de Oro and Iligan, which are intersected by rivers and flanked by mountains.

Chief of the government's Civil Defense Office Benito Ramos attributed the high casualties in Mindanao "partly to the complacency of people because they are not in the usual path of storms" despite four days of warnings by officials that one was approaching.

Ayi Hernandez, a former congressman, said he and his family were resting in their home late Friday when they heard a loud "swooshing sound" and water quickly rose ankle deep inside his home. He decided to evacuate to a neighbor's two-story house.

"It was a good thing because in less than an hour the water rose to about 11 feet (3.3 meters)," the height of the ceiling of his house, he said.

A man in Cagayan de Oro said he heard a cry for help around 10 p.m. while the floodwaters were still low.

"Suddenly, there was a very strong rush of water," the man, who was not identified, told a local TV station.

The floodwaters were waist-high in some neighborhoods that do not usually experience flooding. Scores of residents escaped the floods by climbing onto the roofs of their homes, Iligan Mayor Lawrence Cruz said.

Those missing included prominent radio broadcaster Enie Alsonado, who was swept away while trying to save his neighbors, Cruz said.

Rep. Rufus Rodriguez of Cagayan de Oro said that about 20,000 residents of the city had been affected and that evacuees were packed in temporary shelters.

Television footage showed muddy water rushing in the streets, sweeping away all sorts of debris. Thick layers of mud coated streets where the waters had subsided. One car was shown to have been carried over a concrete fence.

Authorities recovered bodies from the mud after the water subsided. Parts of concrete walls and roofs, toppled vehicles and other debris littered the streets.

Rescuers in boats rushed offshore to save people swept out to sea. In Misamis Oriental province, 60 people were plucked from the ocean off El Salvador city, about 6 miles (10 kilometers) northwest of Cagayan de Oro, said disaster official Teddy Sabuga-a.

About 120 more were rescued off Opol township, closer to the city, he added.

Cruz said the coast guard and other rescuers were scouring the waters off Iligan for survivors or bodies that may have been swept away.

Tropical Storm Washi dumped on Mindanao more than a month of average rains in just 12 hours.

It quickly cut across the region overnight and headed for Palawan province southwest of Manila on Saturday night.

Forecaster Leny Ruiz said that the records show that storms that follow Washi's track come only once in about 12 years.

Lucilo Bayron, vice mayor of Puerto Princesa in Palawan, said he already mobilized emergency crews but local officials have not ordered an evacuation yet because the weather was still fine.

___

Associated Press writer Hrvoje Hranjski contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/weather/*http%3A//news.yahoo.com/s/ap/20111217/ap_on_re_as/as_philippines_storm

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Chinese Internet video firms tussle over copyright (Reuters)

SHANGHAI (Reuters) ? Chinese online video companies Tudou Holdings and Youku.com said they will sue each other for alleged copyright infringements of their videos.

Tudou said late on Monday that it would take legal action against Youku, China's top online video site, for allegedly reposting episodes of a popular variety program on Youku's platform.

Cti TV, the legal copyright holder of "Kangxi is Coming," signed an exclusive agreement with Tudou in November to distribute the episodes of the program on its platform, Tudou said in an emailed statement.

Tudou and Cti TV allege that the episodes were then copied by Youku and uploaded onto Youku's platform.

Youku subsequently countered on Friday that it would take legal action against Tudou, accusing Tudou of allegedly pirating more than 60 television serials from Youku.

Youku said in a statement that legal mediation between the two sides had failed.

The battle for content in China's online video space has heated up this year with costs for programs rising significantly as online video players scramble for eyeballs to lure advertisers.

Advertising revenue in the domestic online video market, which was virtually non-existent five years ago, is now estimated to be worth 1 billion yuan ($156.90 million). This is expected to grow at a double-digit rate.

Many online video players have also signed deals with Hollywood studios to boost viewership.

Shares of Tudou closed 2.51 percent lower on the Nasdaq on Thursday, while Youku fell 3.75 percent on the New York Stock Exchange.

($1 = 6.3735 Chinese yuan)

(Reporting by Melanie Lee; Editing by Jacqueline Wong and Matt Driskill)

Source: http://us.rd.yahoo.com/dailynews/rss/internet/*http%3A//news.yahoo.com/s/nm/20111216/wr_nm/us_tudou_youku

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Saturday, December 17, 2011

Valuable gold coin appears in Pa. donation kettle

(AP) ? Someone has dropped a rare coin worth about $1,700 into a Salvation Army kettle in central Pennsylvania. Again.

The Evening Sun newspaper of Hanover reports (http://bit.ly/s2eFxm ) a gold South African Krugerrand was discovered Wednesday in a kettle outside a Walmart near Gettysburg.

The valuable currency has appeared in Gettysburg-area kettles for several years. But no one knows who should be thanked for the generosity.

Local Salvation Army unit organizer C.K. Roulette says he's content with the mystery remaining unsolved. He says it sparks people's imaginations and adds excitement during long, cold hours of bell-ringing.

Krugerrands also have turned up in recent years in Salvation Army kettles in Florida, Indiana, Colorado and Washington.

___

Information from: The Evening Sun, http://www.eveningsun.com

Source: http://hosted2.ap.org/APDEFAULT/aa9398e6757a46fa93ed5dea7bd3729e/Article_2011-12-15-Valuable%20Coin-Donation/id-1451b7e7f5cd4ec89438edf8f4e47568

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AP-GfK Poll: More than half say Obama should lose (The Arizona Republic)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/175421980?client_source=feed&format=rss

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Friday, December 16, 2011

Avon to replace CEO Jung (Reuters)

(Reuters) ? Avon Products Inc (AVP.N) is looking for a new chief executive to replace Andrea Jung, who has lost the confidence of Wall Street after a myriad of problems, including a federal bribery probe and weak sales in key international markets.

Jung will remain as executive chairman of the company, and work with a committee of board directors to find an external CEO candidate, Avon said in a statement on Tuesday.

Avon shares rose 5.4 percent on the news in after-hours trading after falling by almost half this year.

"The stock has been cut in half this year," Ali Dibadj, analyst at Sanford C. Bernstein, said. "The trust between investors and management has been severed. There have been a few times where expectations have been laid out there and have not been met."

Avon in October said that the Securities and Exchange Commission was investigating the company's contact during 2010 and 2011 with certain analysts and other representatives of the financial community.

The company also reported third-quarter profit that fell below analyst expectations, with Brazil weighing on earnings as the result of implementation of a new computer system, while tough economic conditions also hurt sales in other markets.

Jung has been Avon's CEO since 1999 and is credited with helping to grow the company late 1990s and early 2000s, as it continued to expand, bringing the prospect of a career or even just some extra pocket money to women from South Africa to South Korea.

But in the past several years, Avon has turned in poor performances in key markets such as Brazil and Russia, poured tens of millions of dollars into its international bribery investigation and struggled to stem declines in a sluggish U.S. market.

Aside from saying in October that the SEC was conducting its own bribery probe, the company also said the commission was looking into whether the company violated disclosure laws in contacts with analysts and others.

Avon shares have fallen 44 percent this year, while the Standard & Poor's 500 Index (.SPX) is down only 2.5 percent.

Though the stock rallied on the announcement of a CEO change on Tuesday, analysts were skeptical about the impact of the move.

"What you can say is the company is going to look for a CEO who hopefully will be able to right-size the fundamentals. But it's too soon to say anything about the turnaround itself," BMO Capital Markets analyst Connie Maneaty said.

Jung is popular with the representatives who sell the company's products, and at one time were known as "Avon Ladies."

That popularity might be one reason Jung is staying on as chairman, Dibadj said.

"Andrea is extraordinarily good at working with the representatives, and letting them down in some sense, very hard, might not be the best business decision," he said.

Jung's successor will need to be somebody who can also inspire the representatives, but at the same time improve operations and set out a vision beyond the "boom and bust" cycle Avon has endured, he said.

(Reporting by Brad Dorfman in Chicago. Additional reporting by Abhishek Takle in Bangalore. Editing by Gunna Dickson)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111213/bs_nm/us_avon

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Stocks rally after upbeat economic news

By msnbc.com news services

Wall Street rallied Thursday, as stronger labor market and manufacturing data lifted sentiment after three days of losses, while higher quarterly profit from FedEx also boosted equities.

The Dow Jones industrial average rallied over 100 points at the start of trading, but was lately?down from its early high.

In economic news, a report showed new applications for unemployment insurance fell to a 3-1/2 year low, suggesting a job market recovery was gaining speed, while a gauge of New York state manufacturing activity rose to its highest level since May.

"It all speaks to further stabilization and a very positive trend in the U.S. economy," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey. "It will give a bid to U.S. equity markets and make EU markets look relatively less attractive."

FedEx Corp shares were up 4 percent after the package delivery group, seen as a bellwether of economic activity, reported higher-than-expected quarterly profit.

Spain saw bond yields fall in a well-received auction, raising roughly twice what the government had targeted.

Equity markets have lately tracked European bond prices, using them as a gauge of risk appetite.

Novellus Systems Inc jumped 23 percent one day after larger rival Lam Research Corp agreed to buy it for $3.3 billion in stock.

Michael Kors Holdings Ltd said Wednesday it raised the size of its initial public offering and priced the stock at $20 per share, above the expected range.

Reuters contributed to this report.

Source: http://bottomline.msnbc.msn.com/_news/2011/12/15/9468005-wall-street-rallies-after-upbeat-economic-news

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Wednesday, December 7, 2011

Three-Quarters of Climate Change Is Man-Made

A power plant just south of Lansing, Iowa. Image: Flickr/DTWpuck

Natural climate variability is extremely unlikely to have contributed more than about one-quarter of the temperature rise observed in the past 60 years, reports a pair of Swiss climate modelers in a paper published online December 4. Most of the observed warming?at least 74 percent?is almost certainly due to human activity, they write in Nature Geoscience.

Since 1950, the average global surface air temperature has increased by more than 0.5 degree Celsius. To separate human and natural causes of warming, the researchers analyzed changes in the balance of heat energy entering and leaving Earth?a new "attribution" method for understanding the physical causes of climate change.

Their findings, which are strikingly similar to results produced by other attribution methods, provide an alternative line of evidence that greenhouse gases, and in particular carbon dioxide, are by far the main culprit of recent global warming. The massive increase of atmospheric CO2 concentrations since pre-industrial times would, in fact, have caused substantially more surface warming were it not for the cooling effects of atmospheric aerosols such as black carbon, they report.

Previous attempts to disentangle anthropogenic and natural warming used a statistically complex technique called optimal fingerprinting to compare observed patterns of surface air temperature over time with the modeled climate response to greenhouse gases, solar radiation and aerosols from volcanoes and other sources.

"Optimal fingerprinting is a powerful technique, but to most people it?s a black box," says Reto Knutti, a climate scientist at the Swiss Federal Institute of Technology (ETH) in Zurich, one of the authors of the report.

A balanced view

Knutti and his co-author Markus Huber, also at ETH Zurich, took a different approach. They utilized a much simpler model of Earth?s total energy budget and ran the model many thousands of times, using different combinations of a few crucial parameters that contribute to the energy budget. These included global values for incoming shortwave radiation from the Sun, solar energy leaving Earth, heat absorbed by the oceans and climate-feedback effects (such as reduced snow cover, which amplifies warming by exposing darker surfaces that absorb more heat).

By using the combinations that best matched the observed surface warming and ocean heat uptake, the authors then ran the so-constrained model with each energy parameter individually. This enabled them to estimate the contribution of CO2 and other climate-change agents to the observed temperature change. Their study was greatly assisted by a 2009 analysis of observed changes since 1950 in Earth?s energy balance, says Knutti.

Knutti and Huber found that greenhouse gases contributed 0.6?1.1 degrees C to the warming observed since the mid-twentieth century, with the most statistically likely value being a contribution of about 0.85 degree C. Around half of that contribution from greenhouse gases?0.45 degree C?was offset by the cooling effects of aerosols. These directly influence Earth's climate by scattering light; they also have indirect climate effects through their interactions with clouds.

The authors calculated a net warming value of around 0.5 degree C since the 1950s, which is very close to the actual temperature rise of 0.55 degree C observed over that period. Changes in solar radiation?a hypothesis for global warming proffered by many climate skeptics?contributed no more than around 0.07 degree C to the recent warming, the study finds.

Source: http://rss.sciam.com/click.phdo?i=f391e23893a966e1ce7f8f8db8aa4094

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