Wednesday, January 18, 2012

UK's Clegg says Israeli settlements 'vandalism' (AP)

LONDON ? Britain's deputy prime minister accused Israel on Monday of carrying out "deliberate vandalism" by continuing to build settlements on land the Palestinians hope will form part of a future state.

In an escalation of Britain's previous condemnations of Israeli construction, Nick Clegg warned that continued settlement building is jeopardizing prospects for a peace deal.

"Once you've placed physical facts on the ground that makes it impossible to deliver something that everyone has for years agreed is the ultimate destination. ... It is an act of deliberate vandalism to the basic premise on which negotiations have taken place for years and years and years," Clegg said, referring to settlement construction.

Clegg was speaking alongside Palestinian President Mahmoud Abbas, who also was holding talks in London with Prime Minister David Cameron and Foreign Secretary William Hague ? both of whom have previously expressed concern about settlements.

"The continued existence of illegal settlements risks making facts on the ground such that a two-state solution becomes unviable," Clegg said.

He said that continued construction would "do nothing to safeguard the security of Israel itself, or of Israeli citizens."

"This is exactly what we wanted to hear officially from the government of the United Kingdom," Abbas told reporters, speaking through a translator.

Israeli Foreign Ministry spokesman Yigal Palmor said Clegg's choice of language would do little to help attempts to restart peace talks. "It would be much better to contribute to peace by encouraging the fragile revival of Israeli-Palestinian talks rather than engaging in gratuitous bashing," Palmor said.

Cameron, who met later with Abbas at his official Downing Street residence, warned that time is "running out for the two-state solution unless we can push forward now."

Israeli-Palestinian peace talks stalled in 2009 over the issue of Israeli settlement construction in the West Bank and east Jerusalem, areas that Israel captured from Jordan in the 1967 war. It is territory the Palestinians envision as part of their future state.

Negotiators from the two sides began meeting again in Jordan on Jan.3 in the hope of restarting substantive talks, but disagreements have already surfaced over a deadline for progress on initial discussions.

"We are optimistic about those negotiations and at the same time we hope that there will be something tangible as a result of these negotiations," Abbas said. "Of course, time is of the essence ? there must be speed, we must be fast in achieving those things because the settlements and the whole thing will go on."

The Palestinians insist they won't continue talks unless Israel stops building in the West Bank and east Jerusalem. Israel has said the issue of settlements will be solved once there are agreed-upon borders.

"Settlements have to stop in order for us to be able to continue our negotiations, to come to some sort of solution, and a solution which will encompass the vision of the Palestinian state to come in the future," Abbas said.

In December, European members of the U.N. Security Council said that Israel's acceleration of construction work had sent "a devastating message" and called for an immediate halt.

Israeli Prime Minister Benjamin Netanyahu's office has previously insisted the country is exercising "great restraint" in construction.

___

Associated Press writer Ian Deitch in Jerusalem contributed to this report

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120116/ap_on_re_eu/eu_britain_palestinians

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Wells Fargo beats estimates on lower loan losses (Reuters)

(Reuters) ? Wells Fargo & Co beat Wall Street estimates with a 20 percent increase in fourth-quarter profit, boosted by improving credit quality and continued loan growth.

The jump in profit at the fourth-largest U.S. bank contrasted with an 11 percent decline in profit at Citigroup Inc, which saw its capital markets business battered by the European debt crisis.

"Wells Fargo has a better business model for the environment we're in now because commercial lending is their biggest sector," said Jeffrey Sica, president of SICA Wealth Management in Morristown, New Jersey, which is generally negative on the banking sector.

"They're not overly involved in the trading activities that the other banks are involved in."

The San Francisco-based bank said it earned 73 cents per share. The average estimate from analysts was 72 cents per share, according to Thomson Reuters I/B/E/S.

The bank's total loans grew about $9.5 billion from the end of September to $769.6 billion at the end of December. The loan growth mirrored a trend shown in JPMorgan's results, a potential sign of an improving U.S. economy.

Wells said the planned run-off of loans in liquidating portfolios was more than offset by growth in a broad range of loan types. Loans made to businesses were a significant driver of the increase as the bank made more loans to existing and new customers.

The bank's total loan growth also included purchases of U.S. commercial real estate portfolios from European banks and other one-time additions. Citigroup analyst Keith Horowitz in a research note estimated "core" loans increased 1 percent from the previous quarter, which he called "weak."

In a conference call with analysts, Chief Financial Officer Tim Sloan said there was "actual growth" in the quarter, while the bank also noted it gained market share from other banks.

Net income applicable to common shareholders in the fourth quarter was $3.89 billion, compared with from $3.23 billion, or 61 cents per share, a year earlier. For all of 2011, Wells posted net income applicable to common shareholders of about $15 billion, up from $11.6 billion in 2010.

The report came the same day that Citigroup Inc posted net income of $1.16 billion, or 38 cents per share, down from $1.31 billion, or 43 cents per share, a year earlier. JPMorgan Chase & Co on Friday reported fourth-quarter net income of $3.72 billion, or 90 cents a share, down from $4.83 billion, or $1.12 a share, a year earlier.

Wells Fargo shares climbed 1.3 percent to $30 in morning trading, while Citigroup's fell 5.6 percent to $29.01.

Wells Fargo, which became a coast-to-coast bank with its 2008 purchase of Wachovia, recorded a loan-loss provision of about $2 billion, which was down from about $3 billion a year earlier. For the seventh straight quarter the bank reversed reserves the bank had previously booked for bad loans.

The so-called reserve release in the fourth quarter was about $600 million, down from $800 million in the third quarter. Chief credit officer Mike Loughlin said the bank expects additional releases in 2012, absent "significant credit deterioration in the economy."

Still, big banks are struggling to pad revenues at a time when low interest rates are making it difficult for them to earn money from loans and as new regulations curb fees they can charge for debit card use.

Wells reported total revenue of $20.6 billion, down from $21.5 billion a year ago but up from $19.6 billion in the third quarter.

Mortgage banking income increased to $2.4 billion in the fourth quarter, up from $1.8 billion in the third, but down from $2.8 billion a year ago, as the bank benefited from an increase in home loan refinancings. Wells is the largest originator of home loans in the U.S.

The bank also posted a $430 million gain from trading activities, an improvement from a $442 million loss in the third quarter but down about $100 million from a year ago.

In a bid to improve profits, Wells Fargo, like other banks, has launched a wide-ranging efficiency program called Project Compass. Wells said fourth-quarter noninterest expense was up from the third-quarter as expected on higher seasonal expenses and mortgage-related costs. But the bank reiterated its goal of reducing quarterly expenses to about $11 billion by the end of this year, a reduction of about $1.5 billion.

Wells also said it purchased 27 million shares of its common stock in the fourth quarter, plus an additional 6 million shares through a transaction that will settle in the first quarter of this year.

"We're seeing continued progress in Wells Fargo," Marty Mosby, bank analyst with Guggenheim Partners, said. "Earnings continue to move northward and there's still growth. On the disappointing side, the expense number was higher. We were looking for greater efficiency."

(Reporting By Rick Rothacker in Charlotte, North Carolina; Additional reporting by Lauren Tara LaCapra in New York; editing by Dave Zimmerman)

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/nm/20120117/bs_nm/us_wellsfargo

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Tuesday, January 17, 2012

Samsung says to merge bada mobile OS with Intel-backed Tizen (Reuters)

SEOUL (Reuters) ? Samsung Electronics Co said on Tuesday it planned to merge its 'bada' mobile software with a platform backed by chipmaker Intel Corp in its latest push to diversify away from Google's Android.

Samsung, which emerged as the world's biggest smartphone manufacturer on the back of booming Android models in the third quarter, joined forces with Intel last year to strengthen its mobile software push.

In September two Linux software groups, one backed by Samsung, and another by Intel, agreed to jointly develop Tizen, a new operating system for cellphones and other devices, by merging their LiMo and Meego platforms in a bid to gain wider industry and consumer support.

"We have an effort that will merge bada and Tizen," a Samsung spokesman confirmed senior vice president Kang Tae-jin as telling Forbes magazine in an interview last week.

The open-source Tizen platform supports multiple devices including smartphones, tablets, Internet-enabled TVs, netbooks and in-vehicle infotainment systems.

It would have to attract wide support from developers and manufacturers to compete with the dozen or so other mobile operating systems available in a smartphone market dominated by Google's Linux-based Android and Apple's in-house software.

Google's Android accounted for 53 percent of the global smartphone market in the third quarter and Samsung's bada platform just 2.2 percent.

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

Source: http://us.rd.yahoo.com/dailynews/rss/personaltech/*http%3A//news.yahoo.com/s/nm/20120117/tc_nm/us_samsung_tizen

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Night of chaos, fear after cruise ship ran aground

The luxury cruise ship Costa Concordia leans on its side after running aground the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. A luxury cruise ship ran aground off the coast of Tuscany, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. (AP Photo/Gregorio Borgia)

The luxury cruise ship Costa Concordia leans on its side after running aground the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. A luxury cruise ship ran aground off the coast of Tuscany, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. (AP Photo/Gregorio Borgia)

The luxury cruise ship Costa Concordia leans on its side after running aground in the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. The luxury cruise ship ran aground off the coast of Tuscany, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. The number of dead and injured is not yet confirmed Coast Guard Cmdr. Francesco Paolillo said. (AP Photo/Gregorio Borgia)

The luxury cruise ship Costa Concordia leans on its side as seen from the Giglio harbor, after running aground the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. A luxury cruise ship ran aground off the coast of Tuscany, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. (AP Photo/Gregorio Borgia)

The luxury cruise ship Costa Concordia leans on its starboard side as seen from the Giglio harbor, after running aground off the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. The luxury cruise ship ran aground, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. The number of dead and injured is not yet confirmed Coast Guard Cmdr. Francesco Paolillo said. (AP Photo/Gregorio Borgia)

The luxury cruise ship Costa Concordia leans on its side as after running aground the tiny Tuscan island of Giglio, Italy, Saturday, Jan. 14, 2012. A luxury cruise ship ran aground off the coast of Tuscany, sending water pouring in through a 160-foot (50-meter) gash in the hull and forcing the evacuation of some 4,200 people from the listing vessel early Saturday, the Italian coast guard said. (AP Photo/Enzo Russo)

(AP) ? The first course had just been served in the Costa Concordia's dining room when the wine glasses, forks and plates of cuttlefish and mushrooms smashed to the ground. At the magic show in the theater, the trash cans tipped over and the theater curtains turned on their side. Then the hallways turned upside down, and passengers crawled on bruised knees through the dark. Others jumped alone into the cold Mediterranean Sea.

The terrifying, chaotic escape from the luxury liner was straight out of a scene from "Titanic" for many of the 4,000-plus passengers and crew on the cruise ship, which ran aground off the Italian coast late Friday and flipped on its side with a 160-foot (50-meter) gash in its hull. At least three bodies had been recovered and divers searched the underwater belly of the boat for a few dozen more who remained unaccounted for. By late Saturday, the number of missing had dwindled to about 40.

The Friday the 13th grounding of the Concordia was one of the most dramatic cruise ship accidents in recent memory. It immediately raised a host of questions: Why did it hit a reef so close to the the Tuscan island of Giglio? Did a power failure cause the crew to lose control? And why did crew members tell passengers they weren't in danger until the boast was listing perilously to the side?

The delay made lifeboat rescue eventually impossible for some of the passengers, some of whom jumped into the sea while others waited to be plucked to safety by helicopters. Some boats had to be cut down with an axe.

"We had to scream at the controllers to release the boats from the side," said Mike van Dijk, from Pretoria, South Africa. "It was a scramble, an absolute scramble."

Van Dijk said the boat he was on ? on the upended port side ? got stuck along the ship's wall as it came down.

"It was a hell of a sound, the crunching," he said.

Costa Crociera SpA, which is owned by the U.S.-based cruise giant Carnival Corp., defended the actions of its crew and said it was cooperating with the investigation. The captain was detained for questioning by prosecutors, investigating him for suspected manslaughter, abandoning ship before all others, and causing a shipwreck, state TV and Sky TV said. Carnival Corp. issued a statement expressing sympathy that didn't address the allegations of delayed evacuation.

France said two of the victims were Frenchmen; a Peruvian diplomat identified the third victim as Tomas Alberto Costilla Mendoza, 42, a crewman from Peru. Some 30 people were injured, at least two seriously.

The ship began its lurch at the beginning of dinner service in the ship's two-story dining room, where passengers described a scene of frantic confusion.

Silverware, plates and glasses crashed down on them from the upper floor balcony, children wailed and darkened hallways upended themselves after the ship began its lurch. Panicked passengers slipped on broken glass as the lights went out while crew members insisted nothing serious was wrong.

"Have you seen 'Titanic'? That's exactly what it was," said Valerie Ananias, 31, a schoolteacher from Los Angeles who was traveling with her sister and parents. They all bore dark red bruises on their knees from the desperate crawl they endured along nearly vertical hallways and stairwells, trying to reach rescue boats.

"We were crawling up a hallway, in the dark, with only the light from the life vest strobe flashing," her mother, Georgia Ananias, 61 said. "We could hear plates and dishes crashing, people slamming against walls."

She choked up as she remembered the moment when an Argentine couple handed her their 3-year-old daughter, unable to keep their balance as the ship listed to the side.

"He said,'Take my baby,'" Georgia Ananias said, covering her mouth with her hand. "I grabbed the baby. But then I was being pushed down. I didn't want the baby to fall down the stairs. I gave the baby back. I couldn't hold her."

Whispered her daughter Valerie: "I wonder where they are."

The Ananias family was among the last passengers off the ship, left standing on the upended port side. They were forced to exit from a still-attached lifeboat that became impossible to use once the ship began to tip over; so they climbed a ladder dropped too them off a deck and shimmied down a rope to a waiting rescue vessel.

"We thought we were dying four times," Valerie said, recounting the most terrifying moments in their escape.

A top Costa executive, Gianni Onorato, said Saturday the Concordia's captain had the liner on its regular, weekly route when it struck a reef. Italian coast guard officials said the circumstances were still unclear, but that the ship hit an unknown obstacle.

Despite some early reports that the captain was dining with passengers when his ship crashed into the reef, he was on the bridge, Onorato said.

"The ship was doing what it does 52 times a year, going along the route between Civitavecchia and Savona," a shaken-looking Onorato told reporters on Giglio, a popular vacation isle off Italy's central west coast.

He said the captain was an 11-year Costa veteran and that the cruise line was cooperating with Italian investigators to find out what went wrong.

Malcolm Latarche, editor of maritime magazine IHS Fairplay Solutions, said a loss of power coupled with a failure of backup systems could have caused the crew to lose control.

"I would say power failure caused by harmonic interference and then it can't propel straight or navigate and it hit rocks," Latarche said.

There were no firm indications that anyone was trapped. Rescuers carried out extensive searches of the waters near the ship for hours and "we would have seen bodies," said Coast Guard Capt. Cosimo Nicastro.

Many passengers complained the crew didn't give them good directions on how to evacuate and once the emergency became clear, delayed lowering the lifeboats until the ship was listing too heavily for many to be released.

Several other passengers said crew members told passengers for 45 minutes that there was a simple "technical problem" that had caused the lights to go off.

Seasoned cruisers knew better and went to get their life jackets from their cabins and report to their "muster stations," the emergency stations each passenger is assigned to, they said.

Passengers said they had never participated in an evacuation drill, although one had been scheduled for Saturday. The cruise began on Jan. 7.

Miriam Vitale, a hostess on the cruise liner who disembarked earlier this week in Palermo, told SkyTG24 the ship conducts a drill every 15 days. She said that since passengers on the Concordia embark or disembark every day, some passengers could miss it depending on which day they begin the trip.

Surviving passengers huddled under woolen or aluminum blankets in a middle school on the Italian mainland of Porto Santo Stefano, where passengers were ferried early Saturday from Giglio. Some wore their life preservers, their shoeless feet were covered with aluminum foil.

Christine Hammer, from Bonn, Germany, shivered near the harbor as she waited for a bus to take her somewhere ? she didn't know where. She wore her gray cashmere sweater and a silk scarf with a large pair of hiking boats loaned to her by an islander after she lost her shoes in the scramble. Her passport, credit cards and phone were left in her cabin.

Hammer, 65, said the ship lurched to the side as she ate an appetizer of cuttlefish, sauteed mushrooms and salad on her first night aboard her first-ever cruise, a gift to her and her husband, Gert, from her local church where she volunteers.

"We heard a crash. Glasses and plates fell down and we went out of the dining room and we were told it wasn't anything dangerous," she said.

Alan and Laurie Willits from Wingham, Ontario, celebrating their 30th wedding anniversary, said they were watching the magic show in the ship's main theater when they felt an initial lurch, as if from a severe steering maneuver. That was followed a few seconds later by a "shudder" that tipped trash cans over.

The subsequent listing of the ship made the theater curtains seem like they were standing on their side.

"And then the magician disappeared," Laurie Willits said.

Florida-based Carnival Corp. issued a brief statement Saturday.

"Our hearts go out to everyone affected by the grounding of the Costa Concordia and especially the loved ones of those who lost their lives. They will remain in our thoughts and prayers in the wake of this tragic event."

Costa Cruises said about 1,000 Italian passengers were onboard, as well as more than 500 Germans, about 160 French and about 1,000 crew members. The State Department said about 126 U.S. citizens were onboard.

Coast guard Cmdr. Francesco Paolillo said the exact circumstances of the accident were still unclear, but that the first alarm aboard went off about 10:30 p.m., about three hours after the Concordia had begun its voyage from the port of Civitavecchia to Savona, in northwestern Italy. No SOS was sent, he told The Associated Press in a telephone interview.

The vessel "hit an obstacle," that tore a 50-meter (160 feet) gash in the side of the ship and started taking on water, Paolillo said. It wasn't clear if the obstacle was a jagged, rocky reef or something else, he said.

The captain, Paolillo said, then tried to steer his ship toward shallow waters, near Giglio's small port, to make evacuation by lifeboat easier.

Five helicopters from the coast guard, navy and air force took turns airlifting survivors still aboard and ferrying them to safely.

Costa Cruises said the Costa Concordia was sailing on a weeklong cruise across the Mediterranean Sea that began Jan. 7 in Savona with stops at Civitavecchia, Marseille, Barcelona, Palma de Mallorca, Cagliari and Palermo.

The Concordia had a previous accident in Italian waters, ANSA reported. In 2008, when strong winds buffeted Palermo, the cruise ship banged against the Sicilian port's dock, and suffered damage but no one was injured, ANSA said.

___

D'Emilio reported from Rome; contributing to this report were David Stringer in London, Franklin Briceno in Lima, Peru and Curt Anderson in Miami.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-14-EU-Italy-Cruise-Aground/id-12c3daa93a4847feb8ffe70304e6b93f

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Monday, January 16, 2012

Samsung gets tired of neighbors watching its Transparent Smart Window, installs blinds

Sammy's transparent OLED displays may not be the freshest piece of tech at CES, but its still pretty dang awesome. We first saw Samsung's 46-inch 1920 x 1080 digitally augmented window back in March, but dropped by its CES booth for a second look. Although the touchscreen window still teases to fulfill our fevered sci-fi dreams, not much has changed -- it's still clear, it's still loaded with widgets, and it's still not anywhere near being installed in your home. Samsung told us this was still a concept device, although they did mention that the technology could be scaled down for use in military visors and heads up displays. Hit the break to see a video demo of a few new apps, including a rather slick set of digital blinds.

Continue reading Samsung gets tired of neighbors watching its Transparent Smart Window, installs blinds

Samsung gets tired of neighbors watching its Transparent Smart Window, installs blinds originally appeared on Engadget on Sun, 15 Jan 2012 09:44:00 EDT. Please see our terms for use of feeds.

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Kia UVO2 is your Korean big brother, we go hands-on

Kia's first entry into the infotainment realm had a slightly rocky start, but the Korean automaker is back at CES this year with UVO2, its second-generation in-dash telematics and connectivity platform.

The big features in UVO2 include automatic crash notification, incorporated road-side assistance, service reminders and a brace of new vehicle tracking and geo-fencing features to make sure your teens don't stray too far, go too fast or stay out too late. Partner all that with an updated iPhone app that keeps track of maintenance and includes a vehicle finder that uses AR to find your ride, and it's a comprehensive update. But for now, Kia isn't saying exactly when UVO2 is hitting the market and how much the system will cost when it arrives. Get a taste of the new system in the hands-on after the break.

Continue reading Kia UVO2 is your Korean big brother, we go hands-on

Kia UVO2 is your Korean big brother, we go hands-on originally appeared on Engadget on Sun, 15 Jan 2012 04:10:00 EDT. Please see our terms for use of feeds.

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Sunday, January 15, 2012

iPad 3 has 4G and high-def screen: report

By Wilson Rothman

Bloomberg just released a report citing three unnamed sources?who name?specific details of Apple's next iPad. The iPad 3 will have a high-definition screen, 4G LTE networking and a powerful quad-core processor, says the news service. The report also says that the product will reach full production volume by February.

Live Poll

Ready for iPad 3?

  • 173418

    Yes - This is the one I've been waiting for.

    41%

  • 173419

    Yes - I can't wait to upgrade.

    15%

  • 173420

    No - I'm happy with my iPad 1 or 2.

    23%

  • 173421

    No - Android all the way, baby!

    11%

  • 173422

    No - I am still not sure about this tablet stuff.

    10%

VoteTotal Votes: 2485

It's no surprise that the iPad 3 will have a better screen: The iPhone has long had the more beautiful "retina" screen, and a device like the iPad, meant for reading, should have one too. It's also no great shock that Apple would put a quad-core processor in there, especially given the positive reception of the Asus EeePad Transformer Prime. As you can see in the video below, the Prime appeals to gamers because of its quad-core processor.

What does shock me is the LTE wireless connectivity. Apple's strongest U.S. partners, AT&T and Verizon Wireless, both have LTE networks, and Sprint is rolling one out too. But Apple is often reluctant to jump on new wireless technologies, and if this report is to be believed, LTE would come to the iPad before it was even on the iPhone.

As for the February date, that sounds consistent with last year's shipping schedule: The company announced the iPad 2 on March 2, and had it in U.S. stores by March 10.

More on the iPad from msnbc.com:

Catch up with Wilson on Twitter at @wjrothman, or on Google+. And join our conversation on Facebook.

The world's first quad-core tablet has more than meets the eye. In-Game's Todd Kenreck reports.

Source: http://technolog.msnbc.msn.com/_news/2012/01/13/10151358-ipad-3-has-4g-and-high-def-screen-says-bloomberg

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