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Sanyo Electric Co. <6764> said Thursday it will introduce the world's smallest and lightest digital camcorder compatible with full high-definition recording, accelerating downsizing efforts by Japanese electronics makers.
The new digital camcorder, which will be released under the Xacti brand in mid-September, weighs 268 grams, some 22 grams lighter than a similar product Matsushita Electric Industrial Co. <6752> introduced on Aug. 1 that is currently the world's lightest, Sanyo said.
It is also 18 pct smaller than Matsushita's camcorder.
Sanyo reduced the weight of the new camcorder by cutting down the number of integrated circuit chips used, the company said.
The new product enables full high-definition recording of about 85 minutes with an 8-gigabyte Secure Digital Memory Card. It will retail for around 120,000 yen.
The company expects to sell 100,000 units worldwide in the first year of the launch.
News Inside news:
I. summary - Presently, as for viewing environment of the movie where the customer was photographed, furthermore Kousei small conversion large picture conversion is advanced by the enlargement of the hi-vision television which accompanies the spread of terrestrial digital broadcast. According to JEITA "AV principal item world demand estimate", for 2006 country composition ratio of the terrestrial digital television in the television approximately has become 68%, 2007: Approximately 81%, 2008: Approximately, it is the possibility that 92%, it directs to the analog stopping wave 2011 and it spreads expands. In addition, ratio of the hi-vision model in the domestic video camera 2006: Approximately 26%, 2008: Approximately 64%, 2010: It is thought as the thing which approximately is expanded to 85%. (This corporation estimate)
At this corporation, we sold the digital movie camera Xacti "DMX-HD1" to which in 2006 February hi-vision (720p) it can record to the SD memory card the system MPEG-4 movie for the first time in the world. It received the appraisal where the merit that development concept is "anytime easily you can take the hi-vision movie and the Kousei small photograph and anywhere", is high in the market. After that "DMX-HD1A" (2006 September) "DMX-HD2" (2007 March) consecutively it sold, the silicon movie * started endeavoring to the enlargement of 3 markets.
This time, be able to record the full hi-vision movie of the 1920×1080 pixel easily, the digital movie camera which can make also the retention and playback of the image which photographed simple, we sell Xacti "DMX-HD1000".
II. Details explanation
1. Worldwide smallest most light weight
* 1 full HD (1920×1080 record) digital movie As for DMX-HD1000 worldwide smallest most of cubic measure 272cc and mass 268g light weight
* 11920 (horizontal resolution) the ×1080 (vertical resolution) full HD record is possible at compact size. In movie recording type full HD of approximately 43 parts (the 1920×1080) record is possible in the SDHC memory card of 4GB with the adoption of image compressed technology MPEG-4 of advancement AVC/H.264. In order high speed to process the bulk data of full HD, "platinum ## (sigma) the engine" new development. "Platinum ## (sigma) the engine" those of 2 tip/chip constitution 1 chipped until recently with the development of the individual full HD corresponding H.264 codec, made the miniaturization of set possible. In addition, serial radiography of approximately 2 hours was actualized with the battery of attachment with such as high bulk compressibility and approximately 4.2w where it is due to the optimization of image processing algorithm architecture electric power consumption low.
2. "New ergonomics design" adoption of natural photographing style It is Xacti series common concept, while following the individual design whose muscle burden when photographing is little with natural photographing style, even at the time of tripodal use the lens becomes horizontal, "new ergonomics design" is adopted.
This time, whether the difference of the photographing style again with the angle of the lens and grip, some kind of effect is produced on the muscle, it researched with associate Professor and our company research and development headquarters digital system laboratory Yosihiro Professor Tetuo university graduate school engineering postgraduate course design scientific major human life engineering laboratory Katsuura Chiba Simomura jointly.
Angle of the lens and grip draws up the experimental model of 7 types from those of the 0° to the 135°, the measurement of muscle electric potential of the right arm 6 place and analyzes the muscle burden at the time of movie photographing the subjective appraisal by the questionnaire on the basis of. It was proven as a result, when angle of the lens and grip is the 105°, muscle burden is easy to use small that.
This time DMX-HD1000 of announcement adopts this angle, also from grip form by the fact that it makes the design which fits to the palm, from to have has pursued cheapness.
3. Simply it can retain & can play back the image which photographed "Xacti library" function Until recently, as for retention and playback of the image which photographed with full hi-vision, there was also a point that it handles the data of bulk, there were times when it needs private hard. It is the function which can make the retention playback of the movie and the photograph data where the "Xacti library" the docking station of attachment and external hard disk drive of marketing * USB connection * 5 just does 4, photographed simple. The substance is set to the docking station, it is the sufficient simple operation retention or playback mode being selected from the menu on the picture of television. When playing back, sum nail of the file which would like to become viewing with the remote control which is attachment just is chosen can enjoy immediately from the picture. In addition, because album function is built in to the "Xacti library", gathering the various scenes freely, you said that it draws up the original album, screens with sliding show also method of using which is pleasant is possible. If the "Xacti library" is used, it is possible it not being private hard and the personal computer, to leave simply, to look at the numbers of the scene of memory.
* It is not something which guarantees the operation in 4 all HDD.
* Using 5 attachment private cables. The HDMI cable becomes selling separately.
4. Photograph function of completenessIt corresponds to the high sensitivity photographic set-up of ISO 3200.
To force to shutter chance, high-speed connected copying function of second 7 scene. * 6
During movie photographing simultaneous photographing record of the photograph is possible. * 7
8,000,000 pixel suitable photographic recording is possible.
* As for 6 record picture primes approximately 4,000,000 pixel.
* As for 7 record picture primes approximately 2,000,000 pixel.
New development "multiple being off-center canceler" loading
In still picture hand being off-center revision this corporation individual "multiple being off-center canceler" anew development. With this system, it corresponds to also revolution being off-center revision and subject being off-center revision. In addition, this corporation individual electronic type hand being off-center system in the base, it was off-center in the movie and increased the picture area of the detection territory, from actualized the improvement of revision precision.
New development photograph face detection function
When photographing the face detection maximum of 12 is possible. Photographing which corresponds to AF and the like which puts emphasis on optimum AE and the central person who respond to the detection area designates the face as the center is possible. In the image restoration which photographed in face detection, one face focusing on expression of subject understands clearly by the fact that zoom it does.
5. Other meritsFeeling at rest even with the beginner, operational "simple mode" loading.
Being one-touch, you can reset various mode sets the "full automatic button".
Can play back the data of full HD "Nero corporation Nero 7 Essentials", compilation is possible on the personal computer, "Ulead DVD MovieWriter 5 SE" attachment.
Power source on/off of substance possible private remote control. (At the time of docking station connection)
The new development 2.7 type 230,000 pixel wide liquid crystal monitor adoption which corresponds to the HD picture.
The 1900mAh bulk lithium ion battery which corresponds to new development and long haul life.
The external Strobo, the video light/write and the microphone etc you install, possible accessory shoe loading.
The telecon version lens (1.6 times)/the wide conversion lens (0.7 times)/the semi fish eye (0.4 times) preparing the lens/the digital wireless microphone etc as the option item.
Specification-
Product name Digital Movie Camera
Model Number DMX-HD1000
Color Silver , Black
MSRP Open Price
Sales Date Mid-September 2007
Initial Global Monthly
Production 15,000 units
Please note the contents of this press release, is specific to the model sold in Japan.
SANYO will launch this product in various regions around the world, though the name, model number, specifications, etc. may differ.
Thursday, August 30, 2007
Lightest Full HD Camcorder by Sanyo
Sony shutting down Connect Music Store
steven (24hoursnews) - Sony Corp. will begin shuttering its Connect Music Store in March, the company confirmed Thursday.
Rumors of the shutdown began in June after the company laid off 20 people and allocated remaining staff and resources to the PlayStation group.
Behind the move is Sony's decision to support Windows Media Audio DRM in its new line of Walkman digital music players, also announced Thursday. The Connect service, and previous Sony portable devices, used a proprietary technology called ATRAC which never caught on. The new devices will now work with any other Windows Media-enabled digital music store, such as Wal-Mart and others.
The Connect deactivation will take place on a phased basis in North America and Europe. Specific timing for each region was not disclosed, but is not expected to begin until March. Connect's e-book service will remain operational.
Customers who bought ATRAC-encoded files can continue to manage their library with past Sony devices, but the company is advising them to back up their library to audio CDs, as future Walkman devices may not support the format.
Sony's new Walkman devices for the first time include video. The Sony Pictures Entertainment division is providing video content for the new devices via http://www.sonystyle.com, rather than Connect.
why?
Sony has announced that it is shutting Connect, its online music store, admitting defeat at the hands of Apple's iTunes.
The service - which sold songs in a proprietary format that prevented them from being played on non-Sony devices - will close in Europe some time after March next year, depending on demand, the company said in a statement.
Officially, the explanation given by Sony was that it had "listened to its customers," but sources at the company said that selling songs in the 'ATRAC' format - which was used only by Sony - went against the tide of making devices more compatible with a range of download services.
The next generation of Sony Walkman digital media players - details of which were released simultaneously with the Connect announcement - will use the Windows Media Player platform. The switch means that the new Sony devices will be able to download songs from third-party music sites, such as HMV and Napster, the company said. They will not work with Apple's iTunes store, however, which commands as much as 80 per cent of the market
"Customers don't want to be constrained in their music choice, and to fear that if they change computers or their device, they won't be able to use certain types of services," a source close to Sony said. "ATRAC was a a great codec [a type of audio format] and it served its purpose for a time, but the world has moved on."
The two new series of Walkman - the NWZ-A810 and the NWZ-S510, which will be available from October - will be able to download movie trailers, songs, and music videos from "a range of websites" that are Windows-compatible, Sony said in a statement. They will also be able to connect wirelessly with other Sony devices, such as the PlayStation 3.
Sony launched Connect in the UK in July 2004 as part of an attempt to provide an integrated music service that incorporated both the online platform and the device in a proprietary format, much in the manner of Apple's iPod-iTunes system.
The company has always been tight-lipped about how many customers the service had, but in 2005, Sony's vice-president for network services in Europe said that Connect had "done a lot of sales."
Ultimately, however, the service struggled to gain a foothold against Apple's iTunes store, which is by far the dominant player in the digital download market.
Today shares in Sony were down 1c, at $46.10.
'Go Green' In Data Centers, Says Study
.Green era opens doors for firm
GeoInsight takes proactive stance
John A. Gilbert, CEO of GeoInsight, an environmental and engineering consulting firm, in his Manchester, N.H., office. (JOANNE RATHE/GLOBE STAFF)
In his 14 years as founder and chief executive of GeoInsight Inc., an environmental and engineering consulting firm, John A. Gilbert has seen a big change in the way business is conducted.
"For years, [federal and state] regulatory revisions had driven this industry," Gilbert, 50, recalled last week during an interview in the firm's Manchester, N.H., corporate offices. "But now, companies and organizations are focusing more on environmental management, looking at ways of heading off problems and reducing costs."
Although this is clearly a green era, there are still many companies that don't want to discuss publicly how they are addressing environmental problems, Gilbert acknowledged. But things are moving in the right "environmentally friendly direction," he said.
His small firm's goal, which he said it is achieving, is to work with clients as partners on environmental quality concerns.
And as the firm has become better known for its work in New England, annual revenues are on the rise, hitting the $10 million mark last year, Gilbert said, adding that revenues are now increasing between 15 and 20 percent a year.
But it hasn't always been easy street.
"At one time, we found that we weren't being taken seriously because we were perceived to be too small," Gilbert said. "But that's changed."
Similarly sized environmental consulting firms are the competition today rather than giants like Cambridge-based CDM, which, he said, have largely become federal government contractors.
GeoInsight has 35 employees in Manchester, 14 employees in Westford, Mass., and 13 employees in Cheshire, Conn.
One of the environmental consulting industry's biggest challenges in recent years has been finding quality people with experience, Gilbert said. In some cases, he added, "we find strong entry-level people and bring them along as fast as we can."
Approximately 50 percent of GeoInsight's projects are in Massachusetts, according to Gilbert and Michael C. Penney, 45, a senior associate-senior engineer and manager of the Manchester operation. The rest are in Connecticut (25 percent), New Hampshire (20), and Rhode Island, Vermont, Maine, and New York.
Each year, the firm handles between 300 and 400 projects, Gilbert said. Since its founding in 1993 in Londonderry, N.H., GeoInsight has worked on more than 3,000 projects, he said. Most of the clients have been in the private sector, but there also have been some public sector customers such as municipalities.
"For a small firm, we now cover a lot of ground and are perhaps best known for our assessments of contaminated sites," in terms of air and water quality and other issues, said Gilbert, who grew up in Concord, Mass., and now lives in Concord, N.H.
A number of those sites have been Superfund properties, or those cited by the US Environmental Protection Agency as being the most severely polluted.
Gilbert said GeoInsight's first project involved the Savage Well Superfund site in Milford, N.H. Among the firm's clients currently for Superfund site work are the town of Wilmington, Mass., for the Olin Chemical property, and the Citizens Research and Environmental Watch group, or CREW, of Concord, Mass., for the
"We are very satisfied with the technical advice we've been getting from GeoInsight for the last five years," said James West, technical assistance coordinator for CREW, which receives federal grants for its Starmet-site monitoring work. "Unlike some other firms, they are very experienced in Superfund site work, particularly in the area of hydrology," West said.
One of the most complicated projects handled by GeoInsight, Gilbert pointed out, dealt with drilling a water main under the Thames River in Connecticut to increase the water supply for the Mohegan Sun Casino, the town of Montville, where the casino is, and surrounding communities. The project was completed early last year, he said.
While overseeing complicated as well as more straightforward projects, Gilbert said he is also committed to what he calls GeoInsight's "inner ownership.
"I started the firm because I wanted to run my own business after being a field engineer. But I also wanted to create an organization that would be very different in this field, a stewardship model that would emphasize collegiality."
GeoInsight now has an employee stock ownership plan worth about $300,000, and Gilbert said he will sell his total interest in the firm to employees, perhaps by year's end.
"My ownership stake will then go down to zero, but I'll remain chief executive," he said. "There are exciting times ahead for this still-evolving industry.
Large companies seek to stem costs associated with data center energy use, which is predicted to soar to $7.4 billion in 2011, from $4.5 billion in 2006More than half of large companies are moving beyond talking and into actual planning stages for making their data centers "greener," according to a study that will be released next month by data center operator Digital Realty Trust.
New robotic arm powered by rockets
The new rocket-powered robotic arm, shown in this diagram, is stronger and faster than the ones on the market. Here's how it works: The propellant cartridge contains pressurized liquid hydrogen peroxide, which is routed through two flexible lines (not shown) across the elbow joint and into two catalyst packs. The catalyst burns the hydrogen peroxide, generating steam that pushes pistons up and down - allowing the arm to move.
Rockets can help power robotic arms, which could help lead to "better, stronger, faster" bionic limbs, research now reveals.
A new prototype rocket-powered mechanical arm can lift about 20 to 25 pounds - three to four times more than current commercial prosthetic arms - and can do so three to four times faster.
"Our design does not have superhuman strength or capability, but it is closer in terms of function and power to a human arm than any previous prosthetic device that is self-powered and weighs about the same as a natural arm," said researcher Michael Goldfarb, a roboticist at Vanderbilt University in Nashville.
It has about 10 times as much power as other [robotic] arms," Goldfarb said.
The rocket-powered arm also has greater dexterity and freedom of movement than any other prosthetic to date. Conventional prosthetic arms have only two joints, at the elbow and the "claw." This prototype functions more naturally than previous models, with a wrist that can twist and bend, and fingers that open and close independently.
Rockets replace batteries
Conventional bionic arms are driven by batteries and electric motors.
"Battery power has been adequate for the current generation of prosthetic arms because their functionality is so limited that people don't use them much," Goldfarb said. "The more functional the prosthesis, the more the person will use it and the more energy it will consume."
The weight of the batteries needed to power a bionic arm for a reasonable amount of time is a problem. This led Goldfarb and his colleagues to look for alternatives - in this case, rockets.
The radical design is similar to rocket systems that help the space shuttle and satellites maneuver in orbit. It employs a miniature rocket about the size of a pencil. It burns pressurized liquid hydrogen peroxide using iridium-coated alumina granules as catalysts, generating pure steam that forces pistons up and down, generating motion.
You might expect such a setup to be noisy.
"It's much quieter than I would have ever thought," Goldfarb told LiveScience. "You can be in a room where people are talking at very low levels and never hear it. You have to be very quiet to hear this thing operate."
Steam gets vented out through a porous skin-like cover, where it evaporates like normal sweat. "The amount of water involved is about the same as a person would normally sweat from their arm on a warm day," Goldfarb said.
Complex setup
A key concern was protecting the arm's owner and those in close proximity from heat the arm generated - the steam can get up to 450 degrees Fahrenheit (232 degrees Celsius). The hottest parts are covered with special insulating plastic, making them safe to touch. A small sealed canister of hydrogen peroxide that fits easily in the upper arm can provide enough energy to power the device for 18 hours of normal activity.
The researchers got their latest prototype working properly at the end of June. Future research can make the 4-pound arm even lighter and more robust.
So far the work has been funded by the Defense Advanced Research Projects Agency, which aims to develop better prosthetic limbs. Improvements in body armor and battlefield medicine have reduced the number of casualties from conflicts, but the side effect is a significantly increasing number of amputees, as has become evident among veterans of the ongoing war with Iraq.
DARPA's goal is to have an advanced, commercially available prosthetic arm in two years. Unfortunately, Goldfarb is concerned DARPA funding might dry up for his team's research because of the arm's novel power source, which will probably take a long time to get regulatory approval due to safety issues.
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Still, if DARPA support is withdrawn, Goldfarb is confident his team can still get alternative funding for their arm. "We have made so much progress and gotten such positive feedback from the research community that I'm certain we'll be able to keep going," he said.
Goldfarb also has a parallel project on an artificial leg of similar design, funded by the National Institutes of Health. When asked why he is so interested in designing artificial limbs, Goldfarb said, "I think that it has something to do with the fact that building an artificial limb is like trying to imitate the ultimate machine.
More detail
A rocket-powered bionic arm has been successfully developed and tested by a team of mechanical engineers at Vanderbilt University as part of a $30 million military program to develop advanced prosthetic devices for next generation of super-soldiers.
The mechanical arm mechanical arm with a miniature rocket motor can lift (curl) about 20 to 25 pounds, three to four times more than current commercial arms, and can do so three to four times faster.
"That means it has about 10 times as much power as other arms despite the fact that the design hasn't been optimized yet for strength or power," Michael Goldfarb, the professor of mechanical engineering who is leading the effort, said.
Tests show that the mechanical arm also functions more naturally than previous models.
Conventional prosthetic arms have only two joints, the elbow and claw, but the prototype's wrist twists and bends and its fingers and thumb open and close independently.
The Vanderbilt arm is the most unconventional of three prosthetic arms under development by the Defense Advanced Research Project Agency (DARPA) program.
The other two units, powered by batteries and electric motors, are being designed by researchers at the Advanced Physics Laboratory at Johns Hopkins University in Baltimore who head the program.
The military is funding neuroscientists at the University of Utah, California Institute of Technology and the Rehabilitation Institute of Chicago who are developing advanced methods for controlling the arms by connecting them to nerves in the users' bodies or brains.
"Battery power has been adequate for the current generation of prosthetic arms because their functionality is so limited that people don't use them much," Goldfarb says. "The more functional the prosthesis, the more the person will use it and the more energy it will consume."
At a certain point, the weight of the batteries required to provide the energy to operate the arm for a reasonable period becomes a problem, and it was this poor power-to-weight ratio of the batteries that drove Goldfarb to look for alternatives while working on an exoskeleton project for DARPA.
Goldfarb's power source is about the size of a pencil and contains a special catalyst that causes hydrogen peroxide to burn produce pure steam which is used to open and close a series of valves.
The valves are connected to the spring-loaded joints by belts made of a special monofilament used in appliance handles and aircraft parts and a small sealed canister of hydrogen peroxide that easily fits in the upper arm can provide enough energy to power the device for 18 hours of normal activity.
By covering the hottest parts with special insulating plastic, they were able to reduce surface temperatures enough so they are safe to touch and the steam exhaust is vented through a porous cover, where it evaporates like natural perspiration.
"The amount of water involved is about the same as a person would normally sweat from their arm in a warm day," Goldfarb says.
Goldfarb denies he is creating a superman for the military.
"Our design does not have superhuman strength or capability, but it is closer in terms of function and power to a human arm than any previous prosthetic device that is self-powered and weighs about the same as a natural arm," he said.
£7.5m cost of out-of-hours health care
NEARLY £7.5million was spent last year by Glasgow health bosses in providing out-of-hours care.
The cost of running the GP service shot up by more than a quarter, from £5.84m in 2004.
However, official figures show it is good value, with the lowest cost per patient anywhere in Scotland.
It works out at just £7.61 for patients in the Greater Glasgow area compared to £43.63 for those in Argyll and Bute.
The difference in cost is explained by the large and densely populated area covered by Greater Glasgow compared to Argyll's dispersed population.
Doctors in the Glasgow area who provide the service earn £45 an hour for a call-out on a weekday evening rising to £60 if the call is overnight.
The total cost for Scotland for the service was almost £68m last year.
The Audit Scotland report found that since responsibility for out-of-hours care services was shifted in 2004 from GPs to NHS boards, 95% of Scotland's GP practices have opted out of providing 24-hour care to their patients.
It says most patients are satisfied with NHS out-of-hours care.
But it warns that with fewer GPs covering the out-of-hours period, there is a "significant risk" the service is unsustainable in its current form.
Under the present system of out-of-hours care, GP practices can opt out of providing out-of-hours care though GPs can then choose to deliver some out-of-hours work to NHS boards for a fee.
However, the number of doctors doing this work is steadily dropping.
The report says NHS boards and the Scottish Executive need to invest in extending the roles of nurses and paramedics.
Deputy Auditor General for Scotland Caroline Gardner said: "Since the changes to out-of-hours services, NHS boards have worked hard to maintain the care patients have traditionally experienced.
"The Scottish Executive should look to healthcare professionals other than GPs and consider how to extend their skills.
"Meanwhile, NHS boards should continue to develop how they work with partners, such as NHS 24 and the ambulance service."
US requests WTO mediation in copyright enforcement case against China
The United States has asked the World Trade Organization (WTO) [official website] to establish a "dispute settlement panel" [press release] in its case against China for alleged lax enforcement of copyright and trademark violations [JURIST report; WTO backgrounder], the Office of the US Trade Representative [official website] announced Monday. The request came after the US and China failed to resolve their differences through bilateral consultations [WTO backgrounder] and will be considered by the WTO Dispute Settlement Body [WTO backgrounder] during its next session on August 31.
The case, filed in April, was denounced by Chinese officials [JURIST report] who warned that it would "seriously undermine the cooperative relations the two nations had established in the field." The US also has another case against China [WTO backgrounder] pending, which accuses the Chinese government of adopting "measures that restrict trading rights with respect to important films for theatrical release," audiovisual home entertainment products, and publications. In February, US Trade Representative Susan Schwab [official profile] announced a case [WTO backgrounder] against China for its practice of subsidizing enterprises that "purchase domestic over imported goods or [meet] certain export performance criteria."
Some More
The United States on Monday asked the World Trade Organization to mediate a copyright trade dispute with China, saying bilateral talks have failed to close loopholes that allow counterfeiters to flourish.
It marked the third time in less than a year that the United States has sought a WTO dispute settlement panel to help resolve trade frictions with the leading emerging superpower, whose ballooning trade surplus has become a political flashpoint.
Washington filed a complaint with the WTO against China in April, alleging China's legal regime for protecting and enforcing copyright and trademark protections was unfairly deficient.
Chinese-made counterfeit goods -- from software and DVDs to luxury leather goods and watches -- are widely available in the US market.
Bilateral talks held in early June within the framework of the WTO dispute process proved fruitless, the office of the US Trade Representative said.
"The United States and China have tried, through formal consultations over the last three months, to resolve differences arising from US concerns about inadequate protection of intellectual property rights in China," USTR spokesman Sean Spicer said in a statement.
"That dialogue has not generated solutions to the issues we have raised, so we are asking the WTO to form a panel to settle this dispute."
The US request will be considered by the WTO Dispute Settlement Body at its next meeting, scheduled on August 31, the USTR said.
"In pursuing this action, the United States is seeking to eliminate significant structural deficiencies that give pirates and counterfeiters in China a safe harbor to avoid criminal liability," the trade office said.
Spicer said that China had taken "tangible steps" in recent years to protect intellectual property, but "we still see important gaps that need to be addressed."
There was no immediate official reaction from the Chinese government.
The United States, joined by Canada and the European Union, requested a WTO panel in September 2006 to help settle a dispute over automobile parts. The complainants accuse China of imposing charges that unfairly discriminate against imported auto parts.
In July, the United States, joined by Mexico, asked for a panel to mediate a dispute over allegedly illicit Chinese subsidies.
In the documents lodged with the WTO, the two countries target tax breaks they claim China offers to companies if they buy Chinese supplies instead of imported goods or that appear to be based on a firm's export performance.
Both cases are still under way.
When bilateral consultations fail, the WTO in principle has six months to resolve the dispute. Usually the trade body sides in favor of the party bringing the complaint, but the loser has the right to appeal and the dispute can drag on for years.
The gaping and growing US trade deficit with China -- which hit 232.5 billion dollars last year, according to official US figures -- has triggered a backlash in the United States.
US lawmakers are pushing for legislation to allow for sanctions against Beijing over what is seen as its manipulation of the yuan exchange rate to gain an unfair trade advantage.
Critics of China in the United States say the yuan currency is undervalued by as much as 40 percent, making Chinese exports cheaper.
China revalued its currency in July 2005 and Beijing has since repeatedly said it will allow the yuan to strengthen as part of overall reforms to a financial system it says would risk full collapse with a full flotation.
Vivien Johnston- will talk ethics to world trade bosses
A JEWELLERY designer from the West End is going to Mongolia to tell some of the world's most important business leaders about ethics.
Vivien Johnston will travel to the Asian country next week to discuss the importance of ethics in the precious metal mining and jewellery trade with some of the biggest mining organisations on the globe.
The 30-year-old, a Glasgow School of Art graduate, has been an advocate of ethical jewellery since setting up her business, Fifi Bijoux, last year.
She uses only materials from traceable sources and mining communities where there has been no arms, drugs or human trafficking.
Her produce has attracted the attention of big name stores such as Harvey Nichols.
Vivien said: "My presentation is about the importance of transparency and on-the-ground ethical practice in mining precious metals in today's conscientious consumer-buying climate.
"Also, the presentation is to show it works as a business model and there are jewellers who have an established market for known ethical provenance materials and how we need certification schemes to prevent the unscrupulous abusing the system and simply paying lip-service to it."
The equivalent of the anti-fur campaign for the bling generation, ethical jewellery is jewellery has become a big issue in the USA with stars like Kanye West drawing attention to the issue.
However a major problem has been the high cost of traceability.
for Tech nology News www.24hoursnews.blogspot.com
While it is easier for luxury producers to keep full account of where their materials come from, it is tougher for designers like Vivien who produce for a less exclusive sector and have the final high street cost to think about.
Nonetheless, in the past Vivien has donated a percentage of profits to charities involved in aiding the victims of atrocities in gold and gem mining areas.
Glasgow has become a hotbed of ethical fashion and syle in the past 12 months.
Earlier this year Carolyn Manson opened Bolshie, the first boutique in Scotland to sell exclusively ethical clothes and accessories.
Vivien Johnston
They say you have to suffer for beauty, but Vivien Johnston would disagree! She has set up Fifi Bijoux, an ethical jewellery company, with the express purpose of ensuring that all the precious metals and stones she uses in her pieces are sourced from countries where human rights are respected and the environmental impact of mining is minimised.
Vivien Johnston
Vivien spent several years working in the jewellery industry before she decided to branch out. Experience taught her that despite political efforts to curb the trade in so called 'blood diamonds', the raw materials for the industry were still being imported from countries where conflict existed. When Vivien was commissioned to make an ethical wedding ring it seemed like a natural step to think about creating a business plan for a whole range of ethical jewellery. The initial commission came from a man who was himself an entrepreneur and political figure, so he was able to help and advise her on how to develop her strategy.
Working as head of design for a large jeweller taught Vivien to be innovative and to encourage innovation amongst her staff, but the actual mechanic of setting up in business was a new experience for her. Raising the funding to create her first collection meant tapping into every possible resource, and for help and advice she approached her local Business Gateway Service. With the company still in its infancy Vivien is very realistic about how much hard work she has ahead of her: "I can't afford myself the conceit that I have overcome the skills I lack. I just work round them. I learn constantly".
In 2006 Fifi Bijoux launched its first collection which was showcased at London Fashion Week in 2007. Although Vivien refuses to class herself as a success as yet, the range has generated a great deal of media interest and she is on the road to achieving her long term aim of making Fifi Bijoux the ethical equivalent of Louis Vuitton
address: 6 Mercer Street, Covent Garden, London, WC2H 9QA.Contact: Lynsey Smith. CEC Manager Tel: +44 (0) 141 225 8424 ...
Trade: U.S. is "World's Biggest Loser"
Manufacturing News today (sorry, not linkable) says that the U.S. is the "world's biggest loser - by far" in terms of the WTO dispute resolution system.
The World Trade Organization has ruled against the United States in 40 of 47 cases... That number is "astounding," according to Robert Lighthizer, a partner in charge the international trade group at the law firm of Skadden Arps Slate Meagher & Flom. The United States "has suffered disproportionately from the problems with the WTO dispute settlement system, having been named as a defendant in far more cases than any other WTO members."
(Note that Public Citizen's dispute database shows that the United States has lost 43 of 50 cases. Since Manufacturing News doesn't elaborate further on its statistics, we're not sure where the discrepancy arises.) Lighthizer goes on to say,
"As a result of this judicial activism, our trading partners have been able to achieve through litigation what they could never achieve through negotiation... The consequent loss of sovereignty for the United States in its ability to enact and enforce laws for the benefit of the American people has been staggering. The WTO has increasingly seen fit to sit in judgment of sovereign acts running the gamut from U.S. tax policy to environmental measures to public morals."
All this is true, but it's not just the United States that loses at the WTO. Pretty much all defendants lose WTO disputes. According to Public Citizen's WTO disputes database, while the United States has lost 86 percent of its cases as a defendant under the WTO Dispute Settlement Understanding (DSU), out of all DSU cases, the defendant loses 88.7 percent of the time. So the United States is roughly in line with the rest of the world in terms of having its domestic laws overridden by the WTO.
So claiming the United States loses at the WTO is accurate, but also misses the bigger picture a bit. As Dani Rodrik says as quoted in my earlier post, what's really needed is to rethink the whole system.
Has the WTO threatened us? - World Trade Organization ruling against US - Column
Well, it happened: the World Trade Organization ruled against an existing law, and people are up in arms. Candidates Dole and Buchanan have suggested that this is on the order of the British navy moving in to restore the crown as sovereign in U.S. affairs.
Here is the quarrel. Brazil and Venezuela, in recent months, attempted to bring into the United States what we might as well call "dirty oil," meaning that it is oil that contains a higher density of pollutants than is permitted by the Clean Air Act. So, we denied that oil access to the American market.
A suit was filed with the WTO by Brazil and Venezuela, which asserted, correctly, that the same quality of oil turned down at our frontier was in fact being pumped, sold, and burned within the United States. This is, plain and simple, discriminatory, and of course the General Agreement on Tariffs and Trade exists in order to protest discriminatory practices.
Now the United States has several defenses, none of them conclusive -- they are an attenuation of the violation rather than an excuse for it. It happens that the load of oil being permitted to market notwithstanding its high pollution content was something on the order of an exception. The franchise was given with a view to saving a considerable deposit of oil, on the understanding that the international standard would be invoked beginning in 1998.
Nokia's Hot New- against iphone
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Spurred on by, no doubt, by the iPhone's imminent European release, Nokia yesterday unveiled its latest set of multimedia-ready handsets, including a version of the high-end N95 optimized for the high-speed 3G networks of the U.S. We got an early hands-on look, and were, for the most part, impressed. Here's the gist of ' the announcements:
Nokia N81: This is a sleek and slim music and media phone (pictured) that many people are calling Nokia's answer to the iPhone (probably because it shares the iPhone's onboard memory size of 8GB). Compared to the iPhone, though, it's considerably smaller (like a small candy bar) and more powerful, in our opinion, but then again so are most phones, considering the iPhone's lack of picture- and video-messaging or camcorder ability (among other features standard on even entry-level phones these days). Like other N-series phones, the N81 is feature-packed, with built-in push e-mail, support for most types of music formats and podcasts, Bluetooth stereo capability, and Wi-Fi that not only lets you surf the Internet, but also play the media on your phone on any wireless-enabled TV, stereo, or PC. Sound quality is excellent -- it goes up to 11, and like most Nokia phones we've tried, the dedicated music buttons and navi wheel were responsive to the touch. The N81 will also be compatible with Nokia's new N-Gage gaming service. The N81 is small, but the otherwise traditional slider design is greatly enhanced by a glossy black body with lit-up keys. Our only beef -- it's only got a measly 2-megapixel camera (surprising, considering everything else is relatively state-of-the-art). The N81 -- which comes out in a 4-gigabyte (GB) removable memory-card version and an 8-gigabyte (GB) built-in memory version -- will be out by the end of this year in Europe and in unlocked form directly from Nokia.com (which means it'll work with T-Mobile and AT&T in the States). [For more pictures of the N81, check out the gallery on Engadget.]
Nokia N95 (U.S. HSDPA Version and 8GB Version): Two new versions of Nokia's high-end N95 phone were also unveiled. The new U.S.-optimized version of the N95 is compatible with AT&T's high-speed, 3G HSDPA network, which translates into faster browsing and download speeds when uploading or downloading video or surfing the Net (the current N95 is only compatible with the slower EDGE network). It's also got a longer battery life and twice the internal operational RAM, which means programs will run more smoothly and load up faster (also a sometime problem on the current N95). Also announced, the 8GB N95, which has a bigger screen (about 2-centimeters bigger) than the current model and a scratch-free lens (versus the lens cap that opens easily on the current model). The body is all black, glossy plastic, versus the metal on the current model. It also has assisted-GPS, which means that the mapping software should work a little faster since it'll be getting some help from the cell phone network. Both new iterations of the N95 will be available in unlocked form on Nokia's Web site by the end of the year.
Nokia 5310 Xpress Music: The latest addition to Nokia's Mondrian-esque, two-toned music phones is the slimmest so far (just 9.9-millimeters), yet still has a 2-megapixel camera, stereo Bluetooth capability, a camcorder, and a big 2-inch QVGA screen for watching videos. Music playback battery time is about 18 hours. This is a sleek and slim phone, but it's likely to be pricey when it becomes available in unlocked form on Nokia's Web site. If you're going to be spending the likely $400 plus for this model, you might as well go for one of the higher-end phones above (the N81 or N95, that is).
Nokia 5610 XPress Music: This higher-end entry in the Xpress Music series is a a thicker, slider version of the 5310, but with a better 3.2 megapixel camera (with 8x zoom) and 3G capability (but only in Europe!). It's also got a big 2.2-inch screen for watching all those high-resolution H.265 and MPEG 4 videos you'll be downloading. Again, it will be available directly from Nokia by the end of this year. We only got to play around with these for a few minutes, but Engadget Mobile actually has a couple of these XPress Music phones, so check back there for more up-close-and-personal info.
All in all, an impressive lineup. Our favorite here is probably the N81, just because it's so small, yet pretty feature-packed (too bad about that 2-megapixel camera, though). That said, the N95 in our experience is probably one of the most advanced and powerful cell phones on the market (with built-in GPS and a 5-megapixel camera), and the new 3G capability means it'll finally go head-to-head with the other high-speed phones out there. Either way, without carrier subsidies, these phones are all likely to cost anywhere from $350-$800, so start saving now.
There's no doubt that Nokia's phones, with their powerful Symbian operating system and features, can do a lot more than the iPhone. The question is, will American consumers have the inclination to actually learn how to use all of the state-of-the-art features that Nokia offers? The rest of the world seems sold, but then again, the rest of the world likes Rowan Atkinson (of 'Mr. Bean's Holiday') and soccer, two global phenomenons that haven't managed to catch on Stateside.
Nokia announces launch, games, and fresh details for the brand new N-Gage service.
August 29, 2007 - The N-Gage is reborn. No longer a specific physical device but an online service, the new N-Gage is set to launch worldwide in November. Users with compatible N-series devices can download the N-Gage application directly to their handsets while all future N-series handsets coming out of assembly will have the service already onboard.The new N-Gage, revealed at E3 in 2006, is something of a smart hub, a destination where gamers and community members log in to check out games, download applications, and participate in events like challenges and contests. The service can be likened somewhat to Xbox Live, giving users a central place to download games and demos, engage other players, and check out community features.The new N-Gage is actually part of a new mobile strategy from Nokia called Ovi (Finnish for "door"). The Ovia mantle not only contains N-Gage, but also a new music store and a map service. Nokia Music Store and Nokia Maps are just the second batch of applications announced for the Ovi service beyond N-Gage. Nokia will add additional functionality to Ovi over time.
Nokia has announced several high-profile partnerships for the new N-Gage in recent months, such as Capcom, Digital Chocolate, and I-play. At a London event today, Nokia showed off a spate of new games, including Snakes Subsonic. Games are currently priced in the $8-$15 range.The N-Gage service is compatible with the N73, N81, N95 series, N93 series. Additional devices will be announced in the future.
Hazy Logic spinned off
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The Marlboro Man is surrendering his passport.
After spinning off Kraft Foods, tobacco giant Altria Group is set to hive off its international arm, Philip Morris International. It seems like an odd decision. The risk of crippling U.S. lawsuits -- a major rationale for separating the businesses in the first place -- has mostly subsided. And a spinoff might not unlock much shareholder value anyway.
![[Altria]](http://online.wsj.com/public/resources/images/MI-AM932_BVIEWS_20070829205244.gif)
Getting rid of Kraft was a no-brainer. Making Oreos and cigarettes under the same roof never made much sense. But PMI is a different story. Synergies with the domestic cigarette business would vanish by separating them. And strategically, PMI's growth balances the domestic arm's weaknesses.
Tobacco consumption in the U.S. is shrinking. Overseas, the tobacco trade is booming, particularly in emerging markets, and accounts for about two-thirds of Altria's overall profit. There's an argument for milking the mature cash flows of the domestic business to feed faster-growing markets.
That's especially true when it's not clear what financial engineering can accomplish. Assume that Altria's international business fetches an enterprise value comparable to British American Tobacco's, at 12 times earnings before interest, tax, depreciation and amortization. For Altria's U.S. arm, assign a multiple of six times -- a premium to Carolina Group, the tobacco unit of Loews Corp. The result is a blended multiple of about 10 times -- in line with Altria's $146 billion market value.
Sure, PMI now can offer its managers incentives with a currency all their own. And removing any lingering association with the U.S. might make it easier for PMI to woo potential acquisition targets overseas. Yet these are fuzzy benefits. Without a clear path for creating value, Altria's board may regret letting the Marlboro Man's more-worldly cousin ride off into the sunset.
Pox on Both Housing Markets
A year ago, Britain probably looked more vulnerable than the U.S. to problems in the housing economy. Confidence, the expectation that prices would only go up, was equally extravagant in both countries. Economic news also was equally supportive, with solid growth and low unemployment.
But house prices looked bubblier in Britain. In the decade up to 2006, the gap between growth in house prices and in nominal per-capita gross domestic product was 69 percentage points in the United Kingdom. In the U.S., it was 20 percentage points. Also, the recent increase in overnight interest rates should have been more painful in the U.K., since almost all British mortgages are variable-rate, in which the interest rate changes along with short-term rates, although sometimes after a delay. Most U.S. mortgages have fixed 30-year rates.
Yet it was the U.S. housing market that got into trouble -- the average home price is down 3% in a year, and unsold new houses are piling up. Repossessions are up in the U.K., but so is the average price -- 12% from a year ago, according to Halifax, a U.K. bank.
Two trans-Atlantic differences explain some of the U.K.'s resilience. Construction of new housing is a big and highly cyclical industry in America and a midsize and stable affair in the U.K. The U.K. doesn't have to deal with the price-depressing effect of homes dumped on the market by cash-strapped builders.
Second, lenders in the U.K. have to keep a higher proportion of their loans on their own balance sheets -- something like 80%, against 20% in the U.S. That has probably kept British lenders from going to extremes in subprime lending.
Still, investors in U.K real estate shouldn't assume the housing ladder will reach to the sky. Two million borrowers face higher interest payments in the next year, when their two-year teaser rates expire. If enough of them are forced to sell, or if unemployment picks up, the U.K. could start to look a bit more American.
From More source
(MSN)Altria to split up Philip Morris.
Altria Group on Wednesday said it would split the international and domestic operations of Philip Morris, the world's biggest cigarette maker, into separate public companies in a long-anticipated move.
The fast-growing international unit, Philip Morris International, will be spun off to shareholders, severing it from Philip Morris USA, which is suffering from falling US cigarette consumption. The spin-off is set for next year after a unanimous board vote. Timing will be given on January 30.
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Louis Camilleri, Altria chief executive, will become chief executive of PMI, whose operations are based in Lausanne, Switzerland, but with a small headquarters office retained in New York. Altria will in effect become PMUSA, led by Michael Szymanczyk, and it will retain its 28.6 per cent stake in the brewer SABMiller.
The move will complete the break-up of the Altria conglomerate, highlighted by the closure of the New York headquarters, cutting about 400 parent company jobs with an estimated $250m in cost savings.
Altria has restructured, including a spin-off in March of Kraft, its US food unit, to boost value for shareholders as the US tobacco litigation threat receded.
The last step marking a milestone in the global tobacco industry was to restructure Philip Morris, which makes Marlboro, one of the world's most recognisable brands, and PMUSA's and PMI's increasingly different business agendas. Mr Camilleri said: "I am convinced that this transaction will enhance growth at both Altria and Philip Morris International."
A standalone PMI would be a fast-growing global contender. It has a 15.4 per cent share of the international cigarette market, but only 5 per cent of its profits come from emerging markets, which make up 60 per cent of international cigarette consumption. Its balance sheet would be strong and its stock would be robust currency to participate in rapid industry consolidation.
PMI, which accounts for almost three-quarters of the cigarette makers' total revenue, has made recent acquisitions in Indonesia and Pakistan and eyed fast-growing Asian and eastern European cigarette markets.
Bonnie Herzog, analyst at Citigroup, said: "It's at this point that we expect the beast to be unleashed...and shareholders will be rewarded."
Separating PMI and PMUSA is likely to cheer Wall Street as it will free both groups to become more efficient. Altria shares were up by just over 1 per cent at $69.80 at the close.
Investment pushes GDP higher
PB : Md. Moshiur Rahman sponsored by www.careerbd.net and www.24hournews.blogspot.com
The Commerce Department revised its estimate of gross domestic product - the measure of total goods and services output within U.S. borders - up from a 3.4% rate that it published a month ago. The revision was in line with Wall Street economists' forecasts and far outstripped the first quarter's anemic 0.6% rate of expansion.
Key sources of the upward revision in second-quarter growth were healthier business investment and a better trade performance than the department estimated a month ago.
The growth rate was the strongest pace in more than a year despite weakness in housing.
But the growth spurt could be short-lived. There are concerns that the recent turmoil in financial markets, a result of a spreading credit crisis, could seriously dampen economic activity in the second half of this year.
GDP growth may have slowed to just above a 2% annal rate in the current quarter and many analysts believe growth will slow even further in the final three months of this year as the full impact of the recent market turmoil is felt.
The worry is that the roller coaster ride in stocks and spreading credit problems will shake consumer and business confidence and cause cutbacks in spending and hiring plans.
However, analysts believe the Federal Reserve will act to avert a full-blown recession. If financial turmoil persists, they think the Fed will wield its major policy tool, cutting its target for the federal funds rate, the interest that banks charge each other. That rate has been at 5.25% for more than a year, but investors are starting to hope that the Fed will begin reducing it in quarter-point moves starting at their next meeting on Sept. 18.
The Fed on Aug. 17 cut a less economically significant rate, its discount rate, and has injected billions of dollars into the banking system in an effort to keep credit markets operating in the face of the turmoil. Federal Reserve Chairman Ben Bernanke may offer hints about the Fed's next policy moves when he delivers remarks at a Fed conference on Friday.
There was scant evidence of any inflation problem in the second quarter. So-called core prices that exclude food and energy items rose at a low 1.3% rate instead of 1.4% as previously thought, down from 2.4% in the first quarter and the lowest since a matching 1.3% in the second quarter of 2003.
In other economic news, the Labor Department reported that the number of newly laid off workers filing for unemployment benefits rose to 334,000 last week, an increase of 9,000 from the previous week. That gain caught analysts by surprise. They had been expecting a decline of around 2,000.
Wall Street worries about Fed
Futures still point to negative start despite strong GDP data as investors ponder whether central bank will cut rates; jobless claims rise more than expected.
U.S. stock futures were weaker Thursday despite encouraging data on the health of the economy as investors pondered whether the Federal Reserve will cut short-term interest rates.
At 7:06 a.m. ET, Nasdaq and S&P futures were lower, pointing to a pullback for stocks at the open.
The Commerce Department on Thursday reported that the economy continued to expand at a healthy pace.
According to the latest government read, the U.S. economy grew at 4 percent in the second quarter, its fastest pace in more than a year.
Economists surveyed by Briefing.com had forecast a 4.1 percent annual rate of growth for the second quarter, up from its previous estimate of 3.4 percent.
Separately, the Labor Department reported that the number of newly laid off workers filing for unemployment benefits rose to 334,000 last week, an increase of 9,000 from the previous week. However, economists were forecasting a decline of 2,000 new claims to 320,000.
Stocks had rallied Wednesday on hopes that the central bank would intervene in markets. In a letter sent to Sen. Charles Schumer (D-N.Y.), Bernanke said the Fed was monitoring the trouble in financial markets and prepared to step in and take action if necessary.
The comments raised expectations that the Fed will cut rates and helped the Dow Jones industrial average gain nearly 250 points. Asian stocks rebounded overnight, and major European markets rose in early trading on Thursday.
Investors will look for more clues about what the central bank intends to do with rates on Friday, when Bernanke is due to give a speech about monetary policy and housing in Jackson Hole, Wyo.
Hopes that the Federal Reserve will cut rates were hit after a report in The Wall Street Journal said the central bank may not rush to the rescue of investors.
Fed Chairman Bernanke wants to break the assumption that central bank will cut rates whenever there is turmoil in financial markets, the report said.
In major corporate news, private equity firm Kohlberg Kravis Roberts is in talks with banks over the terms of its pending buyout of First Data (Charts, Fortune 500), according to the Journal.
Toyota (Charts) President Katsuaki Watanabe said problems in the U.S. subprime mortgage market could affect the car maker's sales there.
Yahoo's (Charts, Fortune 500) top sales executive is leaving the company in the latest reorganization move by President Susan Decker, said the company.
On the earnings front, Sears Holdings (Charts, Fortune 500) reported a steep 40 percent drop in second-quarter profits, although sales were essentially in line with Wall Street estimates. H&R Block (Charts, Fortune 500) said its losses ballooned, and Tiffany (Charts) reported lower profits.
Freddie Mac, the nation's second-largest mortgage buyer said its second-quarter profit fell 45 percent.
Also due before the bell are earnings from Del Monte (Charts). PC maker Dell (Charts, Fortune 500) is scheduled to post results after the market close.
Treasury prices rose, lowering the yield on the benchmark 10-year note to 4.54 percent from 4.57 percent late Wednesday. Bond prices and yields move in opposite directions.
Oil prices gained, with U.S. light crude for September delivery adding 35 cents to $73.86 a barrel
Wall Street worries about Fed
Futures still point to negative start despite strong GDP data as investors ponder whether central bank will cut rates; jobless claims rise more than expectedLONDON (CNNMoney.com) -- U.S. stock futures were weaker Thursday despite encouraging data on the health of the economy as investors pondered whether the Federal Reserve will cut short-term interest rates.
At 7:06 a.m. ET, Nasdaq and S&P futures were lower, pointing to a pullback for stocks at the open.
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The Commerce Department on Thursday reported that the economy continued to expand at a healthy pace.
According to the latest government read, the U.S. economy grew at 4 percent in the second quarter, its fastest pace in more than a year.
Economists surveyed by Briefing.com had forecast a 4.1 percent annual rate of growth for the second quarter, up from its previous estimate of 3.4 percent.
Separately, the Labor Department reported that the number of newly laid off workers filing for unemployment benefits rose to 334,000 last week, an increase of 9,000 from the previous week. However, economists were forecasting a decline of 2,000 new claims to 320,000.
Stocks had rallied Wednesday on hopes that the central bank would intervene in markets. In a letter sent to Sen. Charles Schumer (D-N.Y.), Bernanke said the Fed was monitoring the trouble in financial markets and prepared to step in and take action if necessary.
The comments raised expectations that the Fed will cut rates and helped the Dow Jones industrial average gain nearly 250 points. Asian stocks rebounded overnight, and major European markets rose in early trading on Thursday.
Investors will look for more clues about what the central bank intends to do with rates on Friday, when Bernanke is due to give a speech about monetary policy and housing in Jackson Hole, Wyo.
Hopes that the Federal Reserve will cut rates were hit after a report in The Wall Street Journal said the central bank may not rush to the rescue of investors.
Fed Chairman Bernanke wants to break the assumption that central bank will cut rates whenever there is turmoil in financial markets, the report said.
In major corporate news, private equity firm Kohlberg Kravis Roberts is in talks with banks over the terms of its pending buyout of First Data (Charts, Fortune 500), according to the Journal.
Toyota (Charts) President Katsuaki Watanabe said problems in the U.S. subprime mortgage market could affect the car maker's sales there.
Yahoo's (Charts, Fortune 500) top sales executive is leaving the company in the latest reorganization move by President Susan Decker, said the company.
On the earnings front, Sears Holdings (Charts, Fortune 500) reported a steep 40 percent drop in second-quarter profits, although sales were essentially in line with Wall Street estimates. H&R Block (Charts, Fortune 500) said its losses ballooned, and Tiffany (Charts) reported lower profits.
Freddie Mac, the nation's second-largest mortgage buyer said its second-quarter profit fell 45 percent.
Also due before the bell are earnings from Del Monte (Charts). PC maker Dell (Charts, Fortune 500) is scheduled to post results after the market close.
Treasury prices rose, lowering the yield on the benchmark 10-year note to 4.54 percent from 4.57 percent late Wednesday. Bond prices and yields move in opposite directions.
Oil prices gained, with U.S. light crude for September delivery adding 35 cents to $73.86 a barre
TEch TODAy - Nokia Handsets
Alongside of it's Internet foray, Nokia has reportedly unveiled 4 new mobile devices that are optimized for entertainment, music, and games.The N81 multimedia computer has dedicated music and gaming keys that light up when activated, a 3.5-mm headphone connector, and 3G and WLAN connectivity.Besides, N81 is configured to find, buy, manage, and play music and games purchased from the newly-launched Nokia Music Store and N-Gage games service respectively.At Euro 360 and Euro 430, the N81 and the N81 8GB are both expected to begin shipping in Q4 this year.The N95 8GB has all the key features of its predecessor; including a 5 mega pixels camera with Carl Zeiss optics, built-in A-GPS, WLAN, HSDPA, and a 2-way slide, and offers up to 8GB built-in memory.It will start shipping in the fourth quarter for Euros 560 (before subsidies/taxes).
About 9.9mm thick and weighing less than 71 grams, the 5310 XpressMusic phone offers up to 18 hours of music playback and up to 3,000 songs on an optional 4GB microSD card. The phone features dedicated music keys, a 2 mega pixels camera, and a bright 2-inch QVGA screen with up to 16 million colors.The 5310 XpressMusic too will ship in Q4 for Euros 225 (before taxes and subsidies).The other new XpressMusic handset, the 5610 XpressMusic, features a Music Slider key for accessing music with the flick of the thumb.The phone has a black high gloss finish and aluminium side panels, and features a 2.2-inch 16-million color display, and a 3.2 mega pixels camera with auto-focus and dual LED flash. It offers up to 22 hours of music playback, and memory for up to 3,000 songs on an optional 4GB microSD card.Like the other new phones, the 5610 XpressMusic too will ship in Q4 2007 for Euros 300 (before taxes and subsidies).Both new XpressMusic handsets are compatible with the Nokia Music Store.
From Another source
Nokia has entered the mobile music arena, launching its own music download store in Europe along with four entertainment and media-focused handsets.