Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/165670459?client_source=feed&format=rss
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Thursday, November 24, 2011
U.S. stock futures extend losses after weak China flash PMI (Reuters)
SINGAPORE (Reuters) ? U.S. S&P stock futures extended losses to more than 1 percent early on Wednesday after a key gauge of Chinese manufacturing activity slumped to its weakest level in nearly three years.
By 0237 GMT, futures were down 1.2 percent, extending earlier losses made after a downward revision of U.S. growth data raised fresh concerns about the faltering global economy.
Chinese factories saw their weakest activity in 32 months in November, a preliminary purchasing managers' survey showed, reviving worries that China may be skidding toward an economic hard landing and compounding global recession fears.
The HSBC flash manufacturing purchasing managers' index (PMI), the earliest indicator of China's industrial activity, slumped in November to 48, a low not seen since March 2009.
The data showed the world's growth engine is not immune to economic troubles abroad, and could further unnerve financial markets already roiled by Europe's deteriorating debt crisis.
November's flash reading is a sharp three-point fall from October's final figure of 51 and indicated Chinese factory output shrank on the month in November. A PMI reading of 50 demarcates expansion from contraction.
The last time the PMI slipped below 50 was in September, when the index hit 49.9.
(Reporting by Masayuki Kitano; Editing by Kim Coghill)
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Wednesday, November 23, 2011
Doctors: 3 killed in assault on protesters (AP)
CAIRO ? Egyptian doctors say three people have been killed in a police and army assault to evict protesters at Cairo's central Tahrir Square.
The assault came on the second of two days of clashes between Egyptian security and protesters calling on the ruling military to quickly announce a date for the transfer of power to a civilian administration.
Mahmoud Said, a doctor at the nearby Munira hospital, said the bodies of two men were brought to the hospital on Sunday evening, while Mohammed Qenawy, a doctor at one of two field hospitals in the square, said a male protester in his early 20s also was killed.
The military took over when longtime authoritarian leader Hosni Mubarak was ousted by a popular uprising in February.
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Tuesday, November 22, 2011
China, U.S. grapple with tensions at trade talks (Reuters)
CHENGDU, China (Reuters) ? Chinese and U.S. officials started meeting on Sunday to grapple with trade disputes that have strained ties between the world's two biggest economies, carrying forward concerns exchanged between leaders at back-to-back Asian summits in the past week.
At the annual U.S.-China Joint Commission on Commerce and Trade, or JCCT, in the southwest Chinese city of Chengdu, U.S. Commerce Secretary John Bryson said he would push for "concrete and measurable" steps to boost U.S. exports.
President Barack Obama over the past week met with his Chinese counterpart Hu Jintao twice, both times discussing barriers to trade among other issues. Obama said China is now "grown up" and should act that way in international affairs.
China's official reaction has been restrained, with an impending leadership succession preoccupying the Communist Party and leaving it anxious to avoid diplomatic fireworks.
But the conversation is expected to continue at the cabinet and bureaucratic level.
"These are very, very important economic times for both China and the United States, and indeed the world," the U.S. ambassador to Beijing, Gary Locke, said as officials filed in for the first session of the two-day negotiations.
At the heart of the trade friction between is the U.S. trade deficit with China, which in 2010 rose to a record $273.1 billion, up from about $226.9 billion in 2009, in spite of both government's pledges to correct "global imbalances."
The JCCT talks do not grapple with complaints by the United States that the yuan is undervalued to favor Chinese exports, nor with broader political tensions between Beijing and Washington.
But U.S. officials want progress on complaints about lax protection of intellectual property and Beijing's eight-year-old import ban on U.S. beef.
China will press for the United States to "relax restrictions on high-tech (U.S.) exports, and make it easier for China to invest in the United States," said Xinhua.
Beijing complains that those high-tech restrictions, imposed for security reasons, hold back purchases of U.S. goods that could narrow the trade gap, a claim rejected by Washington.
The meeting aims to air disputes and solve them before they require action at the World Trade Organization (WTO).
In addition, some disputes are not covered by WTO rules, so the months of meetings that precede each JCCT provide a valuable opportunity to air concerns, an Obama administration official said earlier.
The two sides are due to announce the outcome of the latest JCCT talks on Monday afternoon local time.
(Reporting by Chris Buckley)
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Why was Michelle Obama Booed at a NASCAR Race? (ContributorNetwork)
First lady Michelle Obama, along with Vice President Biden's wife Jill Biden, was presented as grand marshals of the NASCAR Sprint Cup Finale in Miami. Obama was booed by some members of the crowd.
While stipulating the NASCAR crowd is hardly part of President Barack Obama's base of support, the unpopularity of an American president rarely translates to his wife. Mrs. Obama enjoyed a 63 percent positive rating in a recent CNN poll, while her husband languishes in the mid-40s.
It would not be too difficult to overanalyze this incident. Sports fans tend to be raucous, especially after they have been well lubricated. It is possible the NASCAR crowd would have booed the Second Coming if it came before the big race.
On the other hand, Mrs. Obama has delved into controversy in her pet cause of getting people to eat healthy. Recently she opined that her favorite meal was steak and arugula. It seemed to be a somewhat Marie Antoinette type of statement. A lot of families in these difficult times are hard pressed to afford hamburger, not to mention steak.
Arugula, a leafy vegetable renowned for its peppery taste, is used in salad and tends to be more expensive than the romaine or iceberg lettuce that is usually in dinner salads. Her statement sounded to some ears like boasting about how well she eats compared to the hoi polloi.
Her campaign against childhood obesity, while well intentioned, is being greeted by many people as an attack on their parenting. A lot of two-income households do not have the time or the energy to cook a traditional family dinner where nutrition can be controlled to a certain extent. In too many homes, home delivered fast food or something that can be nuked quickly in the microwave have become the featured dinner. Harried parents are not likely to take very well someone lecturing them about feeding their children properly, especially if they are eschewing playing at the park for lying about with their game boys.
If one takes the view that the booing was personal, Mrs. Obama as a food Nazi is a good an explanation as ever.
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How do the Astronauts get to the launch pad? In a 27 year old Astrovan
You’ve trained for the better part of your life for your flight to outer space with countless simulations, time in a deep water tank designed to simulate the weightlessness of space, rode the “Vomit-Comet” through parabolic arcs, and are suited up and ready to go to the launchpad.? What is your ride of choice for [...]
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Volkswagen says plans to sell over 2 million cars in China (Reuters)
GUANGZHOU (Reuters) ? Top German automaker Volkswagen AG (VOWG_p.DE) is confident of selling more than two million cars in China this year and expects its growth to be faster than the industry's pace in coming years in the world's largest car market, its China chief said on Monday.
Karl-Thomas Neumann, president and CEO for Volkswagen's China operations, made the comments at an autoshow in the southern Chinese city of Guangzhou.
Volkswagen expects China's car market to expand by 8-10 percent in coming years, with the company expecting to outpace that growth, executives said.
Volkswagen, which operates car manufacturing ventures with SAIC Motor Corp (600104.SS) and FAW Group, sold almost 1.9 million vehicles from January to October, 14.8 percent more than the same period a year earlier.
It is also working to double its China annual capacity to 3 million by 2015, executives said.
Both Volkswagen's China joint ventures have worked out prototypes of electric cars, with test fleets expected to be out early next year, executives said.
(Reporting by Fang Yan and Alison Leung; Editing by Jacqueline Wong)
Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111121/bs_nm/us_vw_china
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