Category Archives: Business

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Asia targets greater roles at IMF

Asian continent is preparing to have a greater role in the activities of the International Monetary Fund IMF. This was disclosed in Beijing China.

The ongoing crises in the world number one monetary institution seemed to have reawakened the consciousness of the Asian continent for greater involvement in the affairs of the fund. Recently the controversy surrounding the sexual harassment leveled against the immediate past head of the fund Mr. Strauss Kahn has consumed his career in the organization as he has thrown in the towel as the chief executive of the fund. Already he is facing a legal prosecution over the matter.

It is not likely that an Asian would be appointed to replace him in office as the position is exclusively meant for a European to occupy.  The official from china can only be appointed the deputy managing director of the fund and not the managing director. Although since the post would be contested by interested European countries it is likely that china and indeed the other Asian countries would play the power broker role in deciding whoever emerges as the next head of the international monetary fund.

It would be expected that a new chief executive would be appointed for the fund in no distant time as the resignation of the former chief has created a vacuum in the administration of the fund. Already the IMF has been asked to look in the direction of Europe for the new chief.

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Oil prices compel Obama to raise production

The high cost of oil has forced President Obama to review the oil production policy of the country by increasing the volume of oil production. It is apparent that Americans are frustrated with the increasing cost of oil.

The oil drilling companies have also attacked the government oil drilling policy. The president said in his weekly address to the country that he is setting up a committee to investigate the cause of the skyrocketing oil prices.

The committee to determine it is as a result of any manipulation or fraud. The price of gasoline has gone up to $4 a gallon. He is therefore calling for the elimination of the subsidies that are currently enjoyed by the oil producing companies.

There is a debate going on in the congress over the new direction of the country’s oil policy. The Democratic Party is proposing annual tax breaks of $2billion for the five big oil producing companies in the country. This is a legislation that is opposed by the Republican Party.

The US president said that the oil production in the country has reached its highest level in the country since 2003. The president said that there is the need to increase the oil production in the country and raise the level of environmental standard and safety in the country.

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Japanese govt. plans for Tepco

There is uncertainties surrounding the plan by the Japanese government led by Prime Minister Naoto Kan to rescue the Tokyo Electric Power Company (9501.TO). the Japanese government after a cabinet meeting approved a plan to rescue the company but the plan seems to be generating interesting controversies within the ruling party. The ruling party appeared divided over the issue and many of them would want the company to be penalized.

The party is also worried over the costs of rescuing the company and wondered who would pay for such massive cost.

Another decision reached by the government was funding of the worst nuclear disaster that was ever witnessed by the country since the history of its existence. The cost is said to be about Y2.5trillion. Japan had its worst nuclear disaster recently there was an outcry in the world over the safety of the world in view of the nuclear plants that are established in many parts of the world. Similar disaster occurred in the old USSR.

The disagreement within the government of japan is a show of disapproval over the incompetence of the electricity company. They blamed the company for the problem that has befallen the power sector of the country and most of them wanted the company to be punished heavily.

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Breakdown of play station network anonymous denies involvements

Anonymous group has denied that it has anything to do with the breakdown of PlayStation Network. Despite the repeated pledge by Sony that the PlayStation will be back to the game lovers, the online gaming console is still offline causing untold hardships to people who depended on the system for their living.

But it seems that Sony is concerned with finding out what actually went wrong and which hackers are responsible for the collapse of the online gaming system. So far the culprits have not being identified.

Sony has disclosed in the earlier part of the week that well over 24 million of its user’s accounts have been tampered with. This is in addition to the initial 77 million accounts that were hacked.

However Sony has evidence that linked the Anonymous hacker group as being responsible for the problems the PSN has been having for few weeks now. From the look of events it appears that the attack on the PSN was carried out by a highly organized criminal group. It was disclosed that a file placed on one of the PSN servers had an inscription that “we are legion” according to Sony.

Sony was prompt in accusing the Anonymous group for being responsible, but anonymous has come out to deny any involvement. They said that they never believed in the massive fraught of societal laws. But there may be other angle to the story. It is possible that those who want to use the name of Anonymous group may be doing so to confuse the investigators to back out of the investigation.

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Apple’s iOS 4.3.3 is out with location tracking fixes for iPhone, iPad

The last is yet to be heard about the ongoing controversy concerning location tracking by apple iphone products. The manufacturers of the iphone apple have made available the updated iphone operating system which seeks to provide further insight into the location tracking controversy.

The iOS 4.3.3 software is available in GSM iphone4 iphones through iTunes, it is also available in iphone 3GS, iPad products and in the fourth generation of the Ipod touch.

According to the notes that was released the iOS 4.3.3 minimizes the databases sizes and eliminates cache functionality when the device is connected to the computer; the entire cache is deleted when the location functionality of the device is off. It is possible that apple may have addressed the other bugs that are connected to the controversy.

It will be recalled that there was a controversy few weeks ago about location tracking capacity of iphone products by apple. The controversy was raised by two researchers who raised alarm that the 3 G facility in iphones can track down user’s location. The location tracker had never been an issue with iphone products until the release of one of the latest models of apple products which is iOS 4 some months ago which made some revelations about their locations.

Apple has tried to exonerate itself of any blame on the location tracking issue saying that the products do not track the users and transmit back to apple.

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Phone operators probed over tracking policies

The United States House Energy and Commerce Committee asked the mobile operators to explain their phone-tracking policy. The respondents’ operators include Microsoft, Nokia, RIM, HP, Apple and Google.

The Committee asked to explain their policy on data collection, its storage and security. Also the operators have to explain how a person can get himself exempted from being tracked, and if there is such provision how vastly it is being advertised and being made public. The date of next hearing is May 9 when the companies have to reply in details. How the data I collected, who has access to data and whether the data collected so is being shared with any third party.

The information available from the hardware of the mobile is generally taken and recorded and the presence of a magistrate may not require. In addition, today we can store information on server also. This additional feature allows the more number of users and more people can access data without any borders restrictions.

There is a good feature in GSM SIM which provide information about the recent call location and the tower to which the mobile was connected at the last time. This information can be availed without having any issue with operators and all.

The GSM SIM already provides access to recent call location, and sometimes the last tower to which the phone was connected, without mucking about with network operators or additional paperwork, but allowing anyone with access to the phone to know everywhere it has been seems a step too far.

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Obama pledges to struggle with budget deficit

Obama pledges to struggle with budget deficit

The US Congress is geared up to deal with the economic crisis, however there is still a load of federal debt lagging behind and hampering all welfare programs.

David Plouffe, White House senior adviser stated in an interview that the US president plans to decrease the federal deficit and is formulating stategy for it.

However, there is a contrary concern among Americans over this as in order to reduce budget deficit, the US government may impose new taxes and other burdens over people.

Plouffe, who played a prominent role in the election campaign for Obama in 2008, further added that Obama would reveal his stand over how to deal with reduction in budget deficit. Plouffe stated this during a TV show. Plouffe said that the president believed that deficit reduction can help US economy to grow. However, by cutting student loans or funds for medical research works etc won’t do any good to the economy.

Obama’s main thrust would be on reducing tax cuts for the wealthiest Americans which goes in reverse to Bush era economic strategies.Plouffe stressed on that the US president did not refer to the middle class Americans to be included under this term.The government hopes to cover domestic and defense expenditure along the health care and federal deficit as well as the long-term debt of $14 trillion.

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US President stresses on long term energy policy

US President stresses on long term energy policy

Barack Obama expressed that the US military actions in Libya, Middle East political crisis and the looming nuclear disaster in Japan has put a toll over the psychology of people of the United States.

The already slackening American economy has received severe jerks from these phenomena, Obama stated. He said that the American economy heavily depended upon oil and the Middle East fiasco led to huge rise in prices.

The current crisis that has originated from political instability in the Middle East and Japanese earthquake and tsunami has once again made it evident that the United States has yet not been able to find some alternative means to safeguard their economy from global crises.

There has been no alternative energy program envisaged by the US government so far. The US president called for reviving an strategy to install alternative energy programs in the United States to save the nation from oil fluctuations. Obama stated while addressing people at Georgetown University in Washington that at the time when he joined as US president, America consumed 11 million barrels per day, however, the consumption has decreased almost by 30 percent till now.

Obama stressed on promoting alternative energy sources like natural gas, electric vehicles, biofuels, wind and solar power as well as vehicles and tools that are more fuel-efficient. He reiterated emphasis on developing nuclear power as an alternative to crude oil despite the Japanese nuclear crisis that toppled the entire world’s race for harnessing nuclear energy.

Adding that nuclear energy constitutes almost 20 percent of the total energy consumed in the United States, he stated that it was much safer in terms of keeping a clean environment with no carbon emissions.

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Obama Pitches for Education and High-tech concepts

Despite the thrust on deficit reduction President Obama is keen on investment on research and technology. To forward his high-tech and education agenda he made quick tour of the West Coast. He toured a semiconductor plant at Oregon and before that dined with head honchos of the Silicon Valley.

While Republicans have asked for budget cuts, Obama has championed for more investment in education, high speed Internet, green technologies and other high tech concepts. He feels that investment on future cannot be sacrificed for anything. According to him, “If we want the next technological breakthrough that leads to the next Intel to happen here in the United States, not in China, not in Germany, then we have to invest in America’s research and technology, in the work of our scientists and engineers.”

A proof of Obama’s eagerness in this direction is the fact that his Democratic government now has extended research and development tax credit to tech firms. Intel and many tech companies benefit from this legislative move. Intel’s CEO Paul Otellini has reciprocated by announcing the setting up of a $5 billion manufacturing facility in Phoenix, a suburb of Chandler.

The highlight of this type effort is that on crucial matters Obama tries to rope in not only supporters but also those who disagree with him on other issues. Otellini of Intel funded Republican John McCain’s 2008 election campaign and has been a critic of many of Obama’s policies. But Obama managed to rope him in for his investment efforts in education and high technology agenda.

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Apple, Google to facilitate clients with better gadgets

Apple and Google are currently making efforts for their clients to gain access on different gadgets.

The two corporations introduced competitor services to enable issuers produce conditions and premiums for allocated contents in apps so long Apple can gain a piece of the cake in profits made.

Apple’s access billing package, said on Tuesday, the issuers and editors of magazines and other print and video media could set their own provisions and charges for selected stuffs from the App store. This different packages promises user’s opportunity of usage to plans paid for on iTunes, whatever the gadget used.

Google released its one permit package plan the following day, increasing content users’ access over a wide variety of these Pc gadgets and phones. A 10% part profit is contemplated from these issuers.

A Part of the publishers or issuers have shown their negative reactions to this deep and high price package prices but others have accepted the deal saying the only negative reactions from customers is that they want a direct iPad access.

Apple representative Trudy Muller refused to say something as to if there would be any flexibility afforded with respect to gain sharing. “Our idiosyncrazy is simple,” said Apple CEO Steve Jobs. “When Apple expects to presentnew client to the app, Apple makes a 30% gain. When the issuer brings an old client then Apple has nothing but the issuer owns 100%.