Simultaneous bombs hit army compounds in Aleppo

AMMAN (Reuters) - Syrian warplanes bombed a residential district of Aleppo on Sunday after rebels overran army barracks there, killing and wounding dozens of people and exacerbating a water shortage in Syria's biggest city after a pipeline burst, activists said.

President Bashar al-Assad has resorted increasingly to devastating aerial bombardment to keep rebels fighting to overthrow him in check after they took control of residential neighborhoods and made forays into the center of Aleppo, Syria's commercial and industrial capital.

The almost 18-month-old uprising has polarized global powers, preventing effective international intervention, and is turning increasingly sectarian with the risk of spillover into adjacent Arab states with similar communal divisions.

Insurgent advances have forced Assad to deploy warplanes, major armored forces and thousands of troops to prevent the fall of Aleppo, which would free up supply lines to the interior of Syria from Turkey where rebels have sheltered.

Decisive victory has eluded both sides, with rebels lacking heavy weapons needed to down aircraft and knock out artillery and Assad loath to send conscript troops of questionable loyalty into cities to re-establish dominance on the ground.

Instead, government forces have been bombarding population centers to try to turn residents against rebels dug in there, according to diplomats following the revolt.

Sunday's air raid destroyed a residential complex in the Hananu neighborhood, one of several in eastern Aleppo under rebel control, opposition activists told Reuters by phone.

The death toll was not immediately clear but dozens of bodies and wounded people were being dug out from the rubble. Video footage from the area showed scores of people searching and digging in the debris of a flattened building.

On-scene details could not be independently verified due to Syria's severe restrictions on international media access.

WATER CRISIS IN ALEPPO

Aerial bombardment had also wrecked a main water pipeline, causing serious shortages of water in Aleppo, activists added.

"A water pumping station in al-Mayadeen was hit. There were rebels in the area, but this is not a justification to bomb civilian infrastructure," activist Ahmad Saeed said.

A businessman who went from the northwest of the city to Hananu to bury his grandmother - Aleppo's main cemetery is situated in the district - said the ground was shaking with artillery explosions.

"I passed by several (rebel) Free Syrian Army checkpoints. The fighters looked quite relaxed. The army was nowhere to be seen but it was bombing heavily," he said.

The eastern sector of Aleppo has drawn air strikes since rebels attacked the Hananu barracks and freed scores of army deserters, opposition campaigners said.

In the capital Damascus, the army continued to shell Sunni Muslim neighborhoods supportive of the revolt against Assad, whose minority Alawite sect has dominated Syria's power structure for decades.

Shelling again struck the Palestinian refugee camp of Yarmouk in south Damascus and the adjacent impoverished neighborhood of Hajar al-Aswad, home to thousands of refugees from the Israeli-occupied Golan Heights.

Rebels have launched guerrilla attacks on loyalist forces from Sunni neighborhoods and suburbs that surround Damascus, while Assad has been increasingly relied on elite divisions comprised of Alawites to keep overall control of the capital.

BUS AMBUSHED

Syrian state media said four people were killed in a "terrorist attack" that targeted a bus in the province of Homs. The London-based Syrian Observatory for Human Rights said civilians and soldiers were in the bus.

Assad, whose family has rule Syria for 42 years, has repeatedly said the revolt is the handiwork of Islamist "terrorists" and not a popular movement for democratic change.

The revolt began with peaceful street protests that prompted a bloody security crackdown, leading to an armed insurgency.

U.S. Secretary of State Hillary Clinton said on Sunday she was pessimistic about closing the gap with Russia on how to defuse the Syrian conflict before world leaders gather for the U.N. General Assembly later this month.

Clinton said she made the case for increasing pressure on Assad in talks with Russian President Vladimir Putin and Foreign Minister Sergei Lavrov at a summit of Pacific Rim states in Vladivostok, Russia over the weekend.

"If we can make progress in New York in the run-up to the U.N. General Assembly, we can certainly try," Clinton told reporters. "But we have to be realistic. We haven't seen eye-to-eye on Syria. That may continue. And if it does continue then we will work with like-minded states to support the Syrian opposition to hasten the day when Assad falls."

Chinese and Russian leaders restated their firm opposition to what they see as U.S. meddling in Syria, a reference to calls for harsh U.N. sanctions to isolate Assad, for whom Moscow is Syria's most important ally and arms supplier.

"Our U.S. partners prefer measures like threats, increased pressure and new sanctions against both Syria and Iran. We do not agree with this in principle," Lavrov said.

Clinton said she would continue to work with Lavrov to see if the U.N. Security Council could formally endorse an agreement brokered by former U.N. Syria envoy Kofi Annan which envisages a transitional governing authority for Syria.

But she added that such a step would only be effective if it carried specific penalties if Assad fails to comply - something Russia has repeatedly resisted.

Turkey, Saudi Arabia and most Arab nations have sided with their Syrian Sunni co-religionists at the forefront of the revolt.

(Additional reporting by Andrew Quinn in Vladivostok; Editing by Mark Heinrich)

Source: http://news.yahoo.com/syrian-troops-storm-damascus-refugee-area-chase-rebels-102118143.html

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A nice Wall Street rally while it lasted?

At the start of the historically weakest month for equities, there are plenty of reasons to believe stocks may be just about reaching a top -- at least in the short term.?

The S&P 500 has surged 14 percent this year and is at its highest level in more than four years. Not counting 2009 when equities rebounded from crisis lows, this could be the best year for stocks since 2003 -- nearly a decade.?

A report showing hiring in the United States in August was much slower than expected and warnings last week of a slowdown at Intel and FedEx, that will likely foreshadow a very weak earnings season, have not been enough to deter investors buoyed by aggressive central bank action.?

After the European Central Bank's pledge last week to buy the debt of troubled euro zone countries, the Fed is widely expected to introduce new stimulus measure in the form of more bond buying when it closes its two-day meeting on Thursday.?

"Good news is good news and bad news is good news, largely because of the Bernanke put," said Eric Kuby, chief investment officer at North Star Investment Management in Chicago.?

The S&P 500 is now trading at 13.3 times its forward earnings estimates, meaning investors are willing to pay just over $13 for one dollar of expected earnings from S&P 500 companies.?

Although that is below a median forward price-to-earnings ratio of 13.7 since 1976 - according to Morgan Stanley - it is close to the upper end of the range in the low-growth, post- crisis era of the last five years. During that time there has been a median price-to-earnings ratio of 12.9, according to Thomson Reuters data.?

In fact, the recent price-to-earnings high was 13.5 in February 2011, just above current levels. If you are of the view that little has changed since then, there is no reason for the ratio to go much higher. That combined with a slowing earnings picture inevitably means lower prices.?

"Our view is that the next double-digit move in the market is down not up," Morgan Stanley said in a research note.?

The analysts, led by equity strategist Adam Parker, believe the S&P 500 will finish the year at 1,214, 15 percent below where it is now.?

At current levels the risk-reward skew is starting to look less attractive than it did. That is especially true given the uncertainty the November presidential elections are likely to generate, as well as the potential for more slip-ups in Europe.?

"We put a 1,450 target on the S&P for year and so I'm encouraged," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "But I will say, if this trend continues, I'm inclined to declare victory and move to the sidelines (and) start taking profits."?

The average analyst estimate for the S&P 500 this year is 1,383, according to a Reuters poll from the middle of the year. That shows Ablin is not alone. The S&P's performance has already outstripped most expectations.?

Another negative factor is the rapidly declining earnings outlook for the remainder of the year, as well as for 2013. Analysts are now expecting a 2.1 percent drop in third-quarter earnings year on year. Just about a year ago they were looking for growth of nearly 15 percent.?

Forecasts take a hit?

Last week, Jonathan Golub, UBS's chief U.S. equity strategist, cut his S&P 500 earnings outlook due to a weaker U.S. economic outlook, conversion distortions from a stronger dollar, as well as weaker oil prices.?

For 2012, Golub cut his S&P earnings forecast to $102.50 from $103.50, and to $107.00 from $110 for next year.?

Golub believes third-quarter earnings will be just $25.10, 2 percent below the same period last year. On an annualized basis that would translate into an S&P 500 level of just over 1,300 given a price-to-earnings ratio of 13.?

There are signs that those forecasts are already starting to come true.?

FedEx Corp, the world's second-largest package delivery company, last Tuesday cut its profit outlook for the current quarter, saying weakness in the global economy was hurting demand for overnight international shipments.?

Three days later, Intel Corp cut its third-quarter revenue estimate due to a decline in demand for its chips, as customers reduce inventories and businesses buy fewer personal computers. A revision of Intel targets had been expected by some analysts after PC makers Hewlett Packard Co and Dell Inc warned of slow demand last month.?

Golub is now talking about an earnings "drought" and even an earnings "recession."?

"While investors are focused on monetary policy, we believe these weak earnings results will contain a market advance," he said in a research note.?

Golub has a year-end S&P target level of 1,375, 4.3 percent below Friday's closing level.?

The latest leg of the rally was a 2 percent surge on Thursday that pushed the S&P 500 to its highest level in more than four years and the Nasdaq to its highest in 12 years.?

The move was courtesy of the European Central Bank and its pledge to act as an unlimited lender of last resort to troubled European nations. But it is not a done deal.?

The German constitutional court will rule on Wednesday whether the European Union's new ESM rescue fund should come into being. If it unexpectedly vetoes it, the ECB's plans could be left in tatters since its intervention requires a country to seek help from the rescue fund first.?

Dutch elections set for the same day appear to have been robbed of some of their potential drama, with the hard-left Socialists now slipping in the polls. Instead, the fiscally conservative Liberals are set to win most seats with the center-left Labour party also polling strongly.?

But there are no guarantees and Germany could yet lose one of its staunchest pro-austerity allies in the debt crisis debate.?

"While we got some monetary solutions we still need more answers (on) the underlying European economy," Ablin said. "I don't think bond buying solves the euro crisis."?

Europe is not the only concern for investors. A slew of Chinese data on Sunday served as a reminder of the slowdown in the world's second-biggest economy.?

China's factories ran at their slowest rate for 39 months in August. Retail sales rose in line with forecasts but the trend of spending so far in 2012 has been tracking slightly lower. A double-digit rise in fixed asset investment showed that infrastructure spending remained key to economic growth.?

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, fell for the eighth straight session on Friday. Some of the weakness is blamed on collapsing iron ore demand from China.?

Shipments of iron ore account for about one-third of sea-borne volumes. Spot iron ore prices just hit their weakest in nearly three years, extending a market rout that began in July, while poor demand drove Shanghai steel futures to a record low last week.?

But even with the less-than-stellar fundamental picture, the old saying "don't fight the Fed" has proven to be true once again.?

The chances of the Federal Reserve embarking on another round of bond purchases in the coming week jumped after the disappointing August U.S. employment numbers on Friday, according to a Reuters poll of economists.?

The median forecasts from 59 economists gave a 60 percent chance the Fed would announce another round of quantitative easing, or QE3, on Thursday.?

For the last 40 years the MSCI world index has lost 0.9 percent on average in September, making it the worst performing month for the stock market, according to data from Thomson Reuters. So far the index, a broad measure of global equities, is up 2.6 percent this month.?

This year may well buck the trend.

Source: http://marketday.nbcnews.com/_news/2012/09/09/13760997-wall-street-week-ahead-a-nice-rally-while-it-lasted?lite

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The Disrupt SF 2012 Hackathon Is On Like Donkey Kong

hackathon-1-2It's that time of year again. Pencils are being sharpened, school buses are making their rounds, and hackers are coding to their little hearts' desire. The Disrupt SF Hackathon has officially commenced, with over 400 hackers in attendance and over 35 different API sponsors, including AT&T, Nokia, Loku and Ford. Each hacker and/or team gets 24 hours to develop and product, hacking through the night until noon tomorrow. You can be assured that Red Bull and beer will be a sizeable part of these coders' nutritional equation.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/QLZHmDQaE8M/

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Rowen Williams, Archbishop of Canterbury, Says Role Too Much For One Person


LONDON, Sept 8 (Reuters) - The outgoing Archbishop of Canterbury said his dual role as the head of the Church of England and spiritual leader of the 80 million-member global Anglican Communion was too much for one person and should be divided in the future.
Rowan Williams, who steps down in December, told the Daily Telegraph he believed a more presidential figure should take on the wider role of guiding the Communion, a loose federation of 38 national and regional churches.
Discussions were under way on an overhaul of the Communion's organisation that could split the Archbishop's responsibilities, the newspaper reported him as saying in an interview published on Saturday.
Williams' decade in office has been dominated by the threat of the Communion splitting over same-sex marriages and the ordination of gay priests, and has seen the failure of a peace pact designed to unite progressive and conservative Anglicans.
"Thinking back over things I don't think I've got right over the last 10 years, I think it might have helped a lot if I'd gone sooner to the United States when things began to get difficult about the ordination of gay bishops, and engaged more directly with the American House of Bishops," he told the paper.
A rift opened between Western and African churches after a Canadian Anglican diocese approved blessings for same-sex couples in 2002 and U.S. Anglicans in the Episcopal Church appointed an openly gay man as bishop in 2003.
Williams, 62, had championed a compromise that required member churches to agree not to act in a way likely to upset Anglicans elsewhere, but the pact was effectively scuttled in March when the Church of England voted to reject it.
"I think the problem though, is that the demands of the communion, the administrative demands of the communion have grown, and are growing," Williams said.
"I suspect it will be necessary, in the next 10 to 15 years, to think about how that load is spread, to think whether in addition to the Archbishop of Canterbury there needs to be some more presidential figure who can travel more readily," he added.
Future Archbishops of Canterbury would retain a "primacy of honour," but there would be "less a sense that the Archbishop is expected to sort everything."

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Source: http://www.huffingtonpost.com/2012/09/07/archbishop-of-canterbury-role_n_1866344.html

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Modern Security Systems-So Much More than Security | Tony Lum's ...

When you consider who uses security systems, perhaps you think about the very rich or people who live in rough neighborhoods. You?re right ? that previously was who had these systems, but times are changing, and the need for home security has now skyrocketed. If you are a Kansas City resident, you need an alarm system. Luckily, just as the demand for security systems goes up, the cost goes down, and today these systems are so inexpensive that the typical homeowner or renter can pay for one ? which gives them great peace of mind.

The Increased Need for Security Systems
This is the information and technology age, and that means two things in terms of security. First, more and more people can discover anything they want to about you. You don?t have to reside in a bad neighborhood to be the victim of a crime at home nowadays. Now, criminals can get your name, address, and even at times your schedule off the Internet. You can be a victim of crime in your home because someone is holding a grudge against you, because you are an easy target, or because you are on the list of people attending the 6:30 PM conditioning class at your local fitness center that the crooks downloaded off the Internet, so they are aware you won?t be home. Kansas City might seem like a safe city, but with all the info that criminals can get from you today, you shouldn?t leave your safety up to chance.

Second, thanks to the technology improvements, the security system has become much more than just an alarm system. Nowadays, you can use a security system to monitor your home when you are away utilizing your smartphone, tablet, laptop, or office computer. This means that you no longer have to use your security system strictly as a way to protect against criminals. Use it to keep an eye on your aging parents or school-age children while you are at work. Because you can do all these things with a security system, getting one really helps to put most people?s minds at ease.

The Lowered Cost of the Security System
You may be thinking that you need a security system after reading the last segment. After all, you can?t be too safe, and with the new and distinctive features of most systems, you are almost certainly thinking that you could really benefit from being able to view your children or elderly parents at home. Plus, the system just gives you peace of mind ? and that?s one thing you know you could truly use. However, you might be thinking that you probably can?t find the money for a security system because you have heard that security companies tend to be unreasonable.In the past, owning a security system was pricey. However, today, most security companies provide systems for a very reasonable price ? and most even have a payment plan option.

In today?s world, you can never be to safe. Owning a security system will help you stay safer and give you peace of mind.

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Source: http://tonylum.webaeon.org/modern-security-systems-so-much-more-than-security/907/

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China infrastructure push helps sharp recovery in iron ore rebar prices

SHANGHAI (Commodity Online): Announcement of approval for infrastructure projects totaling 1 trilion yuan in China help trigger a recovery in iron ore and rebar prices which witnessed continuous downslide in the past few weeks on weak steel demand.

At Tianjin Port, 62% Fe content iron ore fines rose 2.3% to $89 per dry ton on Friday but falling marginally by 0.4% on week, whle 58% Fe rose 0.8% at $79.9 per dry ton, The Steel Index said in a report.

Shanghai rebar futures surged 5% on Friday, biggest daily gain on record as state run media reported that China Government has given approval for 60 infrastructure projects this week totaling 1 trillion yuan or 2.1% of China?s economy.

The most active rebar contract for January delivery on the Shanghai Futures Exchange closed at its upside limit of 3,406 yuan per tonne, up 5 percent from Thursday's settlement price.

In CFR Qindao port, 62% fe, 2% Al iron ore fines fell 5.1% to $90.8 while 63.5%/ 63% fe fell 5.2% to $91.2 per dry ton.

?Billet prices in Tangshan gained RMB 120/t through the day but later dropped RMB 40/t. However the generally positive sentiment appeared to feed through to the iron ore market: 61% iron ore fines from Australia traded early on at 87, then a similar product basis-62% Fe went through across global ORE in the afternoon at 92, and then again at 93.5. Australian 58% Fe fines traded 81.5 and 82.5. A Brazilian tender for 63.8% Fe fines closed above 95. Opinions were divided on the apparent recovery, however, with some scepticism due to the still-weak Chinese steel market,? TSI report said.

Source: http://www.commodityonline.com/news/china-infrastructure-push-helps-sharp-recovery-in-iron-ore-rebar-prices-50202-3-50203.html

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