Vine-ing Nemo! Six-second movies of the storm
Our friends at RebelMouse.com are curating Vines--short films made with Twitter's new video-sharing app--to capture this weekend's big northeast blizzard.By RebelMouse.com | Yahoo! News – Fri, Feb 8, 2013 4:51 PM EST
- World leaders, South Africans honor Mandela6 minutes ago
- Newtown: Stay away on anniversary15 hours ago
- AP Newsbreak: Winfrey announces new book club pick10 minutes ago
- Ukrainian president to seek protesters' release5 minutes ago
- Thai democracy enters dangerous new crossroads49 minutes ago
- Big banks see rich opportunities in world's poorest
By Julia Fioretti LONDON (Reuters) - When the Afghan government used mobile phones instead of cash to pay some of its policemen, the officers thought they'd just had a 30 percent pay rise. This anecdote from the U.S. Agency for International Development shows how technological innovations such as mobile banking and biometrics have helped integrate more people in emerging markets into the formal financial system, opening up opportunities for banks willing to take a chance. Half the world's adults, over 2.5 billion people, do not have a formal bank account, according to the World Bank. Many developing countries also offer banks the allure of a growing working-age population and an emerging middle class.
- Canadian housing starts fall slightly in November
By Leah Schnurr TORONTO (Reuters) - New homebuilding in Canada slowed slightly in November, coming in below economists' expectations and suggesting some stabilization for the country's robust housing market, data released on Monday showed. The seasonally adjusted annualized rate of housing starts was 192,235 units last month from a downwardly revised 198,161 in October, the Canada Mortgage and Housing Corp said. Canada's housing market has shown resilience this year after a slowdown in the second half of 2012 when the federal government tightened mortgage rules due to concern consumers are taking on too much debt. Policymakers have kept a close eye on the housing market, which boomed following the financial crisis due to record low borrowing costs.
- Twitter shares soar, near all-time high
By Gerry Shih SAN FRANCISCO (Reuters) - Twitter shares soared more than 9 percent on Monday to their highest level since the company's initial public offering after a spate of product announcements that could boost its revenue prospects. Twitter has mostly traded in the low-$40 range in recent weeks since November 7, when shares briefly topped $50 in the hours following its highly anticipated IPO. Twitter on Thursday officially began allowing marketers to show individually-tailored ads on Twitter, based on websites the user has previously visited. Apple Inc announced last week it would acquire Topsy, an analytics company that mines Twitter data, for $200 million, according to media reports.
- Goldcorp says Mexican land group threatens Canada suit
TORONTO/MEXICO CITY (Reuters) - Goldcorp Inc said on Monday a group challenging its use of lands around its Peñasquito mine in Mexico is threatening to sue the company in Canada. The company and an organization of local landowners, the Cerro Gordo Ejido, have been locked in a tussle for months. Goldcorp in June won a temporary suspension of an agrarian court ruling that nullified Goldcorp's lease of the lands and ordered that the land be returned to the group. Since then, Goldcorp and the Cerro Gordo Ejido have been in talks with a view to reaching a settlement.
- TSX rises on U.S., Canada data; banks, miners gain
By John Tilak TORONTO (Reuters) - Canada's main stock index climbed on Monday as data from the United States and China suggested growth in the world's two biggest economies was starting to gather steam. The Toronto market advanced for a second straight session, with bank and gold-mining shares driving the gains. While such upbeat news has often drawn negative responses from the market due to fears that the U.S. Federal Reserve might begin to scale back its stimulus program, investors have welcomed the latest wave of data. "Net-net the data is positive," said Sid Mokhtari, market technician and director, institutional equity research, at CIBC World Markets.
- Fed's Lacker says frequent changes to QE unrealistic
A top Federal Reserve official and critic of Fed stimulus said on Monday it was unrealistic for the U.S. central bank to think it could make frequent adjustments to the pace of its monthly asset purchases. Richmond Federal Reserve President Jeffrey Lacker also said any change in the Fed's bond-buying program would lead markets to wonder about the path for short-term interest rates. "If we change the setting of one policy instrument like asset purchases....it's going to be hard to convince people it doesn't have implications for the path of short term interest rates," Lacker told reporters.
- Fed's Fisher wants December taper, clear path to end of QE3
By Tom Polansek CHICAGO (Reuters) - The Federal Reserve should start to trim its massive bond-buying program next week, and spell out a clear path for phasing it out altogether, a top Fed official said on Monday. "It is time to taper," Dallas Federal Reserve Bank President Richard Fisher said in remarks prepared for delivery to the DTN/The Progressive Farmer Ag Summit in Chicago. The Fed next meets to decide policy Dec 17-18 and most economists expect it to defer any change until next year. Saying that the cost of the Fed's $85-billion-a-month asset-purchase program "far exceeds" its benefits, Fisher urged reducing it "at the earliest opportunity," and to articulate a clear, well-defined path for ending it by a certain date.
- Auto bailout saved 1.5 million U.S. jobs: study
The federal bailout of General Motors Co , Chrysler and parts suppliers in 2009 saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections, according to a study released on Monday. The Bush and Obama administrations loaned the auto industry, including GM and Chrysler, which is now controlled by Italy's Fiat, $80 billion to avoid the collapse of the industry that they felt would result in the loss of millions of U.S. jobs. Critics of the bailout at the time had argued the companies should be allowed to fail and the industry that resulted from the aftermath would be stronger. Treasury officials have repeatedly said the bailout was not an investment meant to turn a profit, but a move to save U.S. jobs.