Thursday, December 22, 2011

Thousands gather in snow to mourn Kim Jong Il (AP)

PYONGYANG, North Korea ? Tens of thousands of mourners packed Pyongyang's snowy main square Wednesday to pay respects to late leader Kim Jong Il as North Korea tightened security in cities and won loyalty pledges from top generals for Kim's son and anointed heir.

Women held handkerchiefs to their faces as they wept and filed past a huge portrait of a smiling Kim Jong Il hanging on the Grand People's Study House, in the spot where a photograph of Kim's father, North Korean founder Kim Il Sung, usually hangs.

Kim Jong Il died of a massive heart attack Saturday, according to state media, which reported his death on Monday. They said he was 69 ? although some accounts put his age at 70.

A huge crowd of mourners converged on Kim Il Sung Square with traditional white mourning flowers in hand. The crowd grew throughout the day, even as heavy snow fell, and some mourners took off their jackets to shield mourning wreaths set up in Kim's honor, just below the spot where he stood last year waving to crowds at the massive military parade where he introduced his successor, Kim Jong Un.

Two medical workers rushed to carry away a woman who had fainted.

"We chose to come here to care for citizens who might faint because of sorrow and mental strain," Jon Gyong Song, 29, who works as a doctor in a Pyongyang medical center, told The Associated Press. "The flow of mourners hasn't stopped since Tuesday night."

South Korean intelligence reports, meanwhile, indicated Wednesday that North Korea was consolidating power behind Kim's untested son, believed to be in his late 20s.

Worries around Northeast Asia have risen sharply as Kim Jong Un rises to power in a country with a 1.2-million troop military, ballistic missiles and an advanced nuclear weapons development program.

South Korea has put its military on high alert. In another sign of border tension, Chinese boatmen along a river separating North Korea and China told the AP that North Korean police have ordered them to stop giving rides to tourists, saying they will fire on the boats if they see anyone with cameras.

Along the Koreas' border, the world's most heavily armed, South Korean activists and defectors launched giant balloons containing tens of thousands of propaganda leaflets, a move likely to infuriate the North. Some of the leaflets opposed a hereditary transfer of power in North Korea. Some showed graphic pictures of former Libyan leader Moammar Gadhafi's battered corpse and described his gruesome death.

Kim Jong Il ruled the country for 17 years after inheriting power from his father, national founder and eternal North Korean President Kim Il Sung, who died in 1994. Kim Jong Un only entered the public view last year and remains a mystery to most of the world.

Seoul's National Intelligence Service believes the North is now focused on consolidating Kim Jong Un's power and has placed its troops on alert, according to South Korean parliament member Kwon Young-se.

South Korean military officials, who spoke on condition of anonymity because of policies that restrict comment on intelligence matters, said North Korea has ordered its troops to be vigilant but that it didn't mean they were being moved.

Lawmaker Kwon said the NIS told the parliamentary intelligence committee that senior military officials have pledged allegiance to Kim Jong Un, and that more security officers have been deployed in major cities across the country. Intelligence officials declined to comment.

The NIS also gave its predictions on how the North's government will work during the transition of power to the younger Kim.

It told lawmakers that an ad hoc committee is expected to handle key state affairs before Kim Jong Un formally becomes the country's leader, according to lawmaker Hwang Jin-ha, who also attended the closed-door briefing. Intelligence officials didn't describe how they got the information, he said.

The NIS predicts that Kim Kyong Hui, a key Workers' Party official and Kim Jong Un's aunt, and Jang Song Thaek, her husband and a vice chairman of the powerful National Defense Commission, will play larger roles supporting the heir, the lawmaker said.

A South Korean Defense Ministry official handling North Korea affairs, however, said there is too little information to make a confident judgment about where North Korea's power transition is heading.

Initial indications out of North Korea suggest the power transition to the son has been moving forward, though it remains unclear when Kim Jong Un will formally take power.

In 1994, Kim Jong Il declared a three-year mourning period following his father's death, becoming the official leader of the nation in 1997.

Kim Jong Un led a procession of senior officials Tuesday in a viewing of Kim Jong Il's body, which is being displayed in a glass coffin near that of Kim Il Sung. Publicly presiding over the funeral proceedings was an important milestone for Kim's son, strengthening his image as the country's political face at home and abroad.

According to official media, more than 5 million North Koreans have gathered at monuments and memorials in the capital since the death of Kim Jong Il.

Hundreds of thousands visited monuments around the city within hours of the official announcement that Kim had died.

The North has declared an 11-day period of mourning that will culminate in his state funeral and a national memorial service on Dec. 28-29.

The leaflets sent into North Korea on Wednesday by South Korean activists are a sore point with the North, which sees them as propaganda warfare. North Korea has previously warned it would fire at South Korea in response to such actions. There were no immediate reports of retaliation, however. South Korean activists vowed to continue sending leaflets.

___

Reporting from Pyongyang by Associated Press Television News senior video journalist Rafael Wober and AP reporter Pak Won Il. AP writers Foster Klug, Hyung-jin Kim, Sam Kim and Eric Talmadge in Seoul, AP photographers Andy Wong in Dandong, China, and Lee Jin-man in Imjingak, South Korea, as well as Korea bureau chief Jean H. Lee contributed to this story.

Source: http://us.rd.yahoo.com/dailynews/rss/nkorea/*http%3A//news.yahoo.com/s/ap/20111221/ap_on_re_as/as_kim_jong_il

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Sunday, December 18, 2011

Torrent of bad financial news flows out of Europe

The Euro sculpture stands in front of the European Central Bank, right, in Frankfurt, Germany, on Friday, Dec.16, 2011.(AP Photo/Michael Probst)

The Euro sculpture stands in front of the European Central Bank, right, in Frankfurt, Germany, on Friday, Dec.16, 2011.(AP Photo/Michael Probst)

The Euro sculpture stands in front of the European Central Bank, right, in Frankfurt, Germany, on Friday, Dec.16, 2011.(AP Photo/Michael Probst)

The Euro sculpture stands in front of the European Central Bank, in Frankfurt, Germany, on Friday, Dec.16, 2011. Poster underneath the Euro sign reads: Let's talk about Future. At left tents of the occupy movement still remain. (AP Photo/Michael Probst)

President of the European Central Bank Mario Draghi, left, and and Charles Wyplosz, director of the International Center of Money and Banking at the Graduate Institute in Geneva, arrive for a commemoration of late economist Tommaso Padoa Schioppa, in Rome, Friday, Dec. 16, 2011. The Italian government faces a confidence vote over a package of austerity measures while a transport strike to protest the cuts is causing havoc for commuters across the country. Premier Mario Monti is putting his package of new and higher taxes and pension reforms to a confidence vote in the lower Chamber of Deputies to speed up its passage. The vote, which is expected by early evening Friday, will likely clear the measures, paving the way for final approval in the Senate within days. (AP Photo/Andrew Medichini)

A man walks across tram rails in Milan, Italy, Friday, Dec. 16, 2011. The Italian government faces a confidence vote over a package of austerity measures while a transport strike to protest the cuts is causing Friday havoc for commuters across the country. Premier Mario Monti is putting his package of new and higher taxes and pension reforms to a confidence vote in the lower Chamber of Deputies to speed up its passage. The vote, which is expected by early evening Friday, will likely clear the measures, paving the way for final approval in the Senate within days.(AP Photo/Antonio Calanni)

(AP) ? Alarming financial news flowed out of Europe in a torrent Friday, just a week after the EU leaders struck a deal they thought would contain the continent's debt crisis.

The bombardment shredded hopes of a lasting solution to the turmoil that is endangering the euro ? the currency used by 17 European nations ? and threatening the entire global economy.

In quick succession:

? The Fitch Ratings agency announced it was considering further cuts to the credit scores of six eurozone nations ? heavyweights Italy and Spain, as well as Belgium, Cyprus, Ireland and Slovenia. It said all six could face downgrades of one or two notches.

? Ireland's economy shrunk again much deeper than had been expected, with its third-quarter gross domestic product falling 1.9 percent. Ireland is one of three eurozone nations kept solvent only by an international bailout.

? Bankers and hedge funds were balking in talks about forgiving 50 percent of Greece's massive debts, a key issue in the debate over Greece's second rescue bailout.

? The red ink in Spain's regional governments surged 22 percent in the last year, endangering the central government's efforts to cut overall Spanish debt.

? France, the second-largest eurozone economy after Germany, warned that it faced at least a temporary recession next year.

? The euro hovered Friday just above $1.30, a cent higher than its 11-month low.

On the positive side, Fitch said France should keep its top AAA credit rating even though the country's debt load is projected to rise through 2014. Italian lawmakers overwhelmingly passed Premier Mario Monti's new austerity package in a confidence vote, even though many still objected to its pension reforms.

French officials and investors had feared that France could get downgraded, which would have immediate repercussions for the entire eurozone. France and Germany's AAA credit ratings underpin the rating for the eurozone's bailout fund.

European Union leaders confirmed Friday they have distributed the text of their proposed new budget-stability treaty, a pact designed to deter runaway deficits and supposed to become EU law by March. But as growth prospects fade across the continent, governments are facing the likelihood that Europe's debt crisis will prove longer and tougher to overcome than even their most recently revised forecasts.

Until this week, EU leaders held up Ireland as the model for how a debt-struck nation should behave ? defying economic gravity by simultaneously growing its economy while sucking billions out of that same economy in Europe's longest austerity drive.

But on Friday, Ireland announced its third-quarter gross domestic product fell 1.9 percent, its national product 2.2 percent. Economists had expected only an 0.5 percent fall for GDP and none at all for GNP. The latter figure is considered a better measure of Ireland's economic vitality because it excludes the largely exported profits of about 600 American companies based in the country.

Ireland has been cutting spending and hiking taxes since late 2008 and has plans to keep doing so through 2015. Next year's target is ?2.2 billion ($2.9 billion) in cuts and ?1.6 billion ($2.1 billion) in extra charges, including a hike in national sales tax to 23 percent and introduction of a new ?100 ($131) tax on every property.

But the country's finances this year are seriously out of whack: It is spending ?57 billion ($74.5 billion), including ?10 billion ($13 billion) to keep its five nationalized banks afloat, but collecting just ?34 billion ($44 billion) in taxes.

Labor union leaders say the unexpected slump confirmed Friday is irrefutable evidence that Ireland's 4.5 million citizens already have been squeezed too much, too quickly.

"Current policies are making recovery almost impossible," said David Begg, general secretary of the Irish Congress of Trade Unions. "No economy can sustain the sort of ongoing damage that is being inflicted on us."

"We need growth and we need it quickly," he added.

Ireland's year-old international bailout requires the Irish to reduce their annual deficits from an EU record 32 percent of GDP in 2010 to the traditional eurozone limit of 3 percent by 2015. But analysts agree that Ireland cannot hope to meet the 2015 goal if its economy doesn't grow sufficiently.

Ireland's recovery plan now presumes 1.6 percent growth in 2012 and 2.8 percent growth in each of the next three years ? figures many consider way too optimistic.

Alan McQuaid, chief economist at Bloxham Stockbrokers in Dublin, said Ireland would "do well" to reach 0.5 percent growth this year "given the deteriorating world economic backdrop and the fall-off in global demand." He said he doubted Ireland could top 1 percent growth next year.

In other developments:

ITALY:

The new premier's austerity package passed 495-88 Friday, but lawmakers on both the left and right criticized the pension reforms as too harsh. The plan raises ?30 billion ($39 billion) in extra taxes and pension reforms and plows about ?10 billion ($13 billion) of that back into growth measures.

Prosecutors in the southern region of Calabria, meanwhile, said they were investigating 10 envelopes with bullets inside found in a post office in the town of Lamezia Terme. The envelopes were addressed to the new leader Monti, his labor minister, former Premier Silvio Berlusconi and other top political or media figures, according to the Italian news agency ANSA.

Reports said the envelopes contained notes threatening those named if the austerity package wasn't changed.

GREECE:

European officials told The Associated Press that private holders of Greek bonds were resisting EU efforts to persuade them to take a voluntary 50 percent cut in the value of their holdings. The talks in Paris between EU and Greek leaders against representatives of global banks and hedge funds have been very difficult, they said.

The proposed ?100 billion ($130.6 billion) write-off of privately held Greek bonds is supposed to be agreed upon by early next year ? and it's central to Greece's second bailout deal. Without it, Greece's debt is forecast to escalate to nearly 200 percent of GDP.

SPAIN:

A new conservative government committed to increased austerity is coming into office next week, but it faces a rapidly deteriorating financial outlook.

The Bank of Spain announced a 22 percent surge over the past year in the debts of the country's 17 regional governments to ?135.2 billion ($176.6 billion). Spain's central government debt rose 15 percent to above ?706 billion ($922.3 billion).

PORTUGAL:

The main opposition party refused Friday to support the government's plan to amend the constitution to include a budget-deficit limit. All 17 members of the eurozone are supposed to make such commitments as part of the bloc's week-old plan to enshrine spending controls in a new treaty.

In a further worrying development, ratings agency Standard & Poor's on Friday downgraded the credit rating of six leading Portuguese banks to junk status.

Portugal received its own ?80 billion ($104.5 billion) international bailout deal in April.

___

Associated Press writers Angela Charlton in Paris, Gabriele Steinhauser in Brussels, Barry Hatton in Lisbon and Ciaran Giles in Madrid contributed to this report.

___

Online:

Ireland's GDP and GNP, http://bit.ly/vTKjuI

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-12-16-Europe-Financial%20Crisis/id-4fc4e2bf48274f5b9627c840026836cd

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Grand Theft Auto III Lands In The App Store, Android Market

Grand Theft Auto III: Tenth Anniversay EditionIf stealing cars, running people over, and being an all-around gangster is your idea of fun, I come bearing good tidings of great joy this holiday season. Grand Theft Auto III: 10th Anniversary Edition has made its way to your phone courtesy of Rockstar Games. Launched back in 2001, Grand Theft Auto III has been one of the most popular games of the last decade.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ZZ5xQy71VwE/

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Saturday, December 17, 2011

Firms press EU over carbon price

Some of Europe's biggest energy and manufacturing firms say the EU must act to raise the price of carbon and ensure that CO2 emissions targets are met.

A letter to the European Commission from the industry group warns that the future of the EU's Emissions Trading Scheme (ETS) is at stake.

The EU Corporate Leaders Group on Climate Change (EUCLG) includes Royal Dutch Shell, Enel, Alstom and Acciona.

EU carbon permits have dropped 55% in price this year, to 6.45 euros (?5.40).

ETS permits, each representing a tonne of carbon emissions, are traded to give industry a financial incentive to cut CO2 emissions and invest instead in green energy.

The EUCLG's patron is Britain's Prince Charles. The group's letter called for permits to be withheld in Phase Three of the ETS, which begins in 2013.

Reducing the supply of carbon permits would push up the price, they argue, saying "it is critical that the European institutions take decisive action now".

Too many permits?

The letter to EU Commission President Jose Manuel Barroso urged a "recalibration of Phase Three of the ETS by withholding allowances and designing a robust Phase Four that will send the right long-term price and investment signal and will immediately strengthen the carbon price".

The EUCLG Director, Sandrine Dixson-Decleve, told BBC News that "the ETS is no longer functioning as it should be functioning".

"We're in a financial crisis, and as we're trying to look at the eurozone we need to look at the existing [carbon] market and make sure it's functioning, so recalibrating the market to take into consideration the situation we're in."

She said the financial crisis had helped to reduce Europe's CO2 emissions, because of the slump in industrial output. That makes it more likely that the EU will meet its target of a 20% emissions cut by 2020.

"So the question is whether we need to tighten that target," she said, adding that some companies in the EUCLG were calling for a cut of 25% or even 30%.

Currently the ETS, launched in 2005, sets pollution limits for more than 11,000 energy firms and carbon-intensive manufacturers.

If an installation's CO2 emissions are higher than the number of permits it has, it must buy extra allowances from other installations which are lower CO2 emitters.

The EUCLG wants the EU's Energy Efficiency Directive to be aligned with the ETS, because it expects a 13.9% reduction in carbon prices if firms in the ETS increase their energy efficiency.

The letter says the EU must take account of the potential impact of the directive and other green energy policies on the carbon price, to ensure that the ETS remains viable.

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/world-europe-16193954

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Tuesday, December 6, 2011

US wants SKorea to pressure Iran on nuclear plan (AP)

SEOUL, South Korea ? A senior U.S. official is pushing South Korea to join U.S.-led punishment of Iran over its nuclear program.

State Department special adviser Robert Einhorn told reporters in Seoul on Monday that Washington wants countries that buy Iranian petrochemicals to stop doing so to pressure Tehran to end what he called nuclear defiance.

South Korea's Foreign Ministry says the country buys such petrochemicals.

Einhorn said Washington wants its friends around the world to send a strong message to Iran and is looking for ally South Korea to join that campaign.

Iran says its nuclear program is for peaceful purposes. But a recent U.N. nuclear agency report suggests it is working toward development of atomic weapons.

Source: http://us.rd.yahoo.com/dailynews/rss/iran/*http%3A//news.yahoo.com/s/ap/20111205/ap_on_re_as/as_skorea_us_iran

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Skillville Games launches skill-based tournament gaming site ...

Skillville Games is kicking off a new skill-based tournament gaming web site today. The goal is to bring tournament gaming into a modern world, where gamers can compete against each other for cool prizes.

On Skillville Games, players can play casual games from Solitaire to Break It, betting small amounts of money in matches against other players. Players sign up and play tournaments in an asynchronous fashion, or playing a round of a game when it suits their own schedules.

The company has had a beta site working for about 1.5 years under the SkillAddiction name. The metrics for the beta are good, with 80,000 registered users signed up. In November, players waged about $30,000 in their own money. About 10 percent of customers are converting to paying customers. About 65 percent of players are retained ona? monthly basis. The top 20 percent average revenue per paying user is about $170. Players stay on the site for an average of 30 minutes. The tagline is game better, win more.

Skillville Games was first conceived as SkillAddiction by two Syracuse University college students, Taylor Louie (pictured left) and Raymond Williams (pictured right). They had been playing on competing web sites for more than a year and had won $4,000 in prizes. They decided they could create a better skill-gaming experience, with less fraud and more fairness. Using their winnings and other funds, they set up a beta site 18 months ago. They got other hardcore skill-gaming players to contribute their knowledge. Then they relocated to Silicon Valley and went through the YetiZen incubator program in San Francisco.

?We?ve had more than 1.5 million skill tournaments so far,? Williams, chief executive of Skillville Games, said in an interview. ?We think this niche is under-served.?

They were part of the first graduating class in August. In the incubation program, YetiZen brings in gaming experts to help advise the startup and then gets a small percentage ownership in return.

Skillville has five full-time employees and as many as eight working on the project. Skillville Games is looking for a round of seed funding. The founders have already put $58,000 of their own money into it. The site has 35 games available.

Some of the rivals are big. They include King.com, Worldwinner.com, and Game Duell. Skillville hopes to outdo them with better service. The company has a dynamic ranking algorithm that ensures players are fairly matched and are never forced to leave because they have achieved a rank that is too high. The company also monitors security closely for any scams, bots, and cheaters. Skillville has a dual currency model and meta game that improves player engagement and monetization. For $5 a month, premium members get access to cash tournaments, premium free roll tournaments (no entry cost and a cash prize), and access to Skillville?s Scavenger Hut with more than 1,000 prizes.

Here?s a video of Skillville Games in action. The first 50 players who send an email to rewards at skillvillegames.com can get 50 free skill tokens when they register and get 50 percent off their initial deposit to become a premium member. Upon initial deposit, players can get 500 more skill tokens.

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Tags: skill games, skill gaming

Companies: Skillville Games, YetiZen

People: Jason Clark, Raymond Williams, Taylor Louie

Source: http://venturebeat.com/2011/12/05/skillville-games-launches-skill-based-tournament-gaming-site/

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