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Early this summer, Groupon was aiming to raise $750 million in its initial public offering; now, it expects to raise no less than $480 million but no more than $540 million from the sale of 30 million shares, the AP reports. In a tough market for stock offerings, the firm…

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President Obama’s first attempt to split his American Jobs Act into smaller bites did not go well: His $35 billion package, intended to protect the jobs of teachers and first responders, was blocked in the Senate last night. Democrats couldn’t get the 60 votes needed to move the bill forward;…

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Sweded Version of The Avengers Trailer

Dumb Drum created awesome sweded version of The Avengers trailer as a promo for Swede Fest 8, which takes place on November 5 in Fresno. via Ain’t It Cool News Broadcasting platform : YouTube Source : Laughing Squid Discovery Date : 19/10/2011 06:04 Number of articles : 4

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Live From New York, It’s the Conan O’Brien Museum

Anyone who has felt Conan O’Brien’s absence since he defected for the West Coast and basic cable will soon breathe a sigh of relief. O’Brien is going to make the most of his time in New York while he prepares for his upcoming live shows. As he returns to the Big Apple this month, he

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Expand Your Vocabulary With the Periodic Table of Swearing

This device is programmed with over 100 curses — mostly British ones — that have handy designations. “Silly bastard”? Sb. “Stupid old wanker”? Sow. As if you needed the warning, strong language ahead. Periodic Table of Swearing from Clay Interactive Ltd on Vimeo . [ Wired ] Read more posts by Jennifer Vineyard Filed Under: clickables , tv Broadcasting platform : Vimeo Source : Vulture Discovery Date : 19/10/2011 01:00 Number of articles : 6

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US and China call for action on eurozone debt crisis

Wen Jiabao lectures EU leaders on the need for structural reform but they will make no decision until summit next week America and China, the world’s two economic superpowers, have again urged EU leaders to resolve the eurozone’s sovereign debt crisis and prevent the world from sliding into another slump. As it emerged that no decisions would be taken by European leaders until an unprecedented second eurozone summit next Wednesday, Chinese premier Wen Jiabao told EU leaders to stop the debt crisis spreading and lectured them on the need for structural reform. His outspoken comments, in a phone call with Herman Van Rompuy, the European council president, came after Brussels cancelled an EU-China summit planned for Wednesday and hours after Barack Obama had a transatlantic video conference call with the French president, Nicolas Sarkozy, and German chancellor, Angela Merkel. Wen told Van Rompuy: “The most urgent task is to take decisive measures to prevent the debt crisis spreading further and avoid financial market turbulence, a recession and fluctuations in the euro.” Britain’s chancellor, George Osborne, said before Saturday’s meeting of the 27 EU finance ministers: “The coming days will be critical for resolving the crisis in the eurozone. I am convinced of everyone’s commitment to this. A resolution to the eurozone crisis would be the biggest boost to growth in Britain and around the world.” But Europe’s leaders continued to feud in public and private over the reasons for twice delaying final decisions, with France and Germany still at loggerheads over fundamental issues and Italy and Spain, let alone Greece, under severe pressure to fix their budgets as all of them slash economic growth forecasts for 2012. Arriving for a meeting of eurogroup finance ministers, Jean-Claude Juncker, the group’s chairman and veteran Luxembourg premier, admitted that the outside impression given by the EU was “disastrous”. He said: “It does not appear a bright example of superior statesmanship.” On the uppermost floor of the Berlaymont, the European commission’s HQ, the talk was of how Merkel and Sarkozy had in effect sabotaged Sunday’s summit by insisting on taking all the decisions themselves. “Previously, 90% of decisions were taken before the summit, and now everything has to be decided at the summit table.” Merkel was accused of failing to realise until it was too late that too much work remained to be done to ensure a successful summit. But in Berlin government sources attacked foot dragging by senior officials preparing the dossiers, including a key report on the sustainability of Greek debt promised for Wednesday morning and still unavailable on Friday. As Juncker cancelled a planned news conference after the eurogroup meeting, it emerged that the only agreement reached so far on the three core issues was on recapitalising Europe’s 60 or 70 “systemic” banks. They are now said to require capital buffers of around €80bn-€90bn to withstand exposure to potential debt defaults. The ratings agency Standard & Poors calculated that 21 of the 47 banks it had sampled might need €91bn under the “stress test” of a double-dip recession. This proposal is expected to be approved by the 27 finance ministers on Saturday and formally signed off by the EU-27 summit on Sunday, but France still insists that its banks be given as much as nine months to meet the new 9% capital ratio target as it fights to defend its AAA credit rating. Government sources in Berlin sought to play down differences with Paris on the two outstanding issues of how and by how much to “leverage” the eurozone’s main bailout find, the European Financial Stability Facility (EFSF), and the scale of the losses, or “haircuts”, private creditors should suffer as the price for restructuring Greek debt and giving final approval to the second bailout package of €109bn (£95bn) for Greece. Insisting that disagreements between Germany and France were on purely technical questions, the sources said the two agreed on the fundamentals. It is even claimed that Sarkozy has dropped a key demand that the European Central Bank help to bolster the EFSF’s financial firepower from the current €440bn to closer to the €2tn sought by the US, the UK and market players, turning the fund into a bank. Berlin is pushing for two options: either making the EFSF an insurer which would offer first-loss guarantees to private creditors who buy new issues of government debt from countries under pressure such as Spain and Italy; or combining the bailout fund with last-resort IMF loans. Confidential background reports obtained by the Guardian suggest that these loans, valid for a year but renewable twice for six months, could be as much as 2%-10% of the affected country’s GDP. Sources in Berlin said these two options – among a dozen being studied – are “the most promising.” Profound disagreements, meanwhile, resurfaced over the write-downs banks and insurers would have to suffer on Greek debt to make the latter sustainable. Last July these were set at 21% for private creditors and were entirely voluntary but they could now become compulsory and be set at anywhere between 30% and 50%. The outcome of the next few days could hinge on talks on Saturday between Merkel and Sarkozy, though the French president may still be smarting from an entirely fruitless flight he made to Frankfurt this week for emergency talks with the German chancellor. European debt crisis Euro European Union Economics Euro Europe China United States European banks guardian.co.uk

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Occupy London Stock Exchange camp refuses to leave despite cathedral plea

St Paul’s says it has closed for safety reasons, but protesters insist they cannot be moved on without court order Anti-global finance protesters were refusing to quit their camp outside St Paul’s Cathedral on Friday night, despite requests from church officials who complain they have been forced to shut the building for the first time since the second world war. The Occupy the London Stock Exchange protesters, who moved on to an area at the front of the cathedral a week ago, will continue their encampment in defiance of the dean of St Paul’s, the Rt Rev Graeme Knowles, who asked them to “let the cathedral get its life back”. The movement said cathedral officials were more concerned about visitor numbers than the safety reasons they claimed lay behind the shutdown. The refusal has led to a standoff between the cathedral and the protesters, who say they cannot be moved on without a court order. Knowles said the decision to close the cathedral was unprecedented in recent times, but there was no choice and it had been done with a “heavy heart”. Services have been cancelled until further notice and staff have been sent home. In a statement Knowles said he had asked protesters to “recognise the huge issues facing us at this time and asking them to leave the vicinity of the building so that the cathedral can reopen as soon as possible”. He stressed that he and other officials had formed good relations with the protesters. “We are delighted that the London protests have been peaceful, and indeed there has been a good atmosphere generally between cathedral staff and those dwelling in the tents around St Paul’s. “There is something profound about protest being made and heard in front of this most holy place – a gathering together of those concerned about poverty and inequality facing the great dome of this cathedral church.” However, he said, it was obvious the size of the camp had “increasingly put us in a difficult position”. Knowles met members of the chapter that governs St Paul’s on Thursday evening, leading to the closure. “The health, safety and fire officers have pointed out that access to and from the cathedral is seriously limited. With so many stoves and fires and lots of different types of fuel around, there is a clear fire hazard. Then there is the public health aspect, which speaks for itself. The dangers relate not just to cathedral staff and visitors but are a potential hazard to those encamped themselves.” Therefore, he said, the cathedral would stay closed “until such a time that we can open safely”. He added: “We have done this with a very heavy heart, but it is simply not possible to fulfil our day to day obligations to worshippers, visitors and pilgrims in current circumstances.” Although he initially played down the financial impact of the protest, he later conceded there would have to be “long term planning”. “We have a commitment to the paid staff, we must pay them as best we can.” And, while he did not directly address the issue of eviction, explained that ownership of the grounds around the cathedral was “so complicated” he would have to go through “lawyers and the Corporation of London” to remove the protesters. Knowles was forced to deny that Giles Fraser, the canon chancellor of St Paul’s, who initially said he supported the protesters’ right to remain, had acted inappropriately or unilaterally. Occupy LSX cast doubt on the cathedral’s concerns and said it had spoken to the fire brigade and believed there were no fire safety issues. “As to the cathedral’s commercial concerns, access to the restaurant has never been blocked by the encampment. The closure of the restaurant, by the cathedral, has mystified us, especially as it came at the same time as we encouraged our people to use and support the restaurant. We would much prefer to eat there than in some of the nearby chains. We believe the cathedral is also concerned about their visitor numbers. We have endeavoured to ensure that our schedule does not conflict with the cathedral’s, so that their normal operations are not impaired. Clearly, we have become another tourist attraction on the cathedral’s doorstep – but, since we are not a commercial concern, we are struggling to understand how we have had any financial impact on the cathedral’s revenues.” The protest, modelled on similar events in Spain and New York, descended on London’s financial district last Saturday with the intention of setting up a permanent camp in Paternoster Square, the private commercial and retail plaza housing the Stock Exchange headquarters. However, the square’s owners won a court order preventing this, and police blocked access. Several thousand activists, who eventually coalesced into an encampment of around 200 tents, instead based themselves on the western edge of St Paul’s. There, they set up an increasingly entrenched camp , featuring a food marquee, a media tent and a “university”. Relations with the church began well, especially after Fraser’s intervention. However, sSince then, however, cathedral officials have repeatedly raised concerns about the size and scope of the camp, warning that it was impeding access for both worshippers and tourists, especially ahead of next week’s busy half term. This is a particular issue for a cathedral that relies heavily on entrance fees for its income. One protester, Marcus Wright, said he would resist any attempt to remove him from the area. The 22-year-old, wearing a Batman hoodie and a Guy Fawkes mask, has been at St Paul’s since Monday. “It will be non-violent, but I will still be protesting as they drag me away,” he said. “The only way we’ll move is by force. We won’t be violent. It is our right to protest.” Occupy London Occupy movement London Protest Religion Riazat Butt Peter Walker guardian.co.uk

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Electric car UK sales sputter out

Figures show that only 106 electric cars were bought in 2011 third quarter through ‘plugged-in car grant’ scheme Hopes that £5,000 government grants would make 2011 “remembered as the year the electric car took off” have been dashed with the release of new figures showing uptake of the greener cars has sputtered out. Only 106 electric cars were bought in the third quarter of 2011 through the “plugged-in car grant” scheme, launched in January . It marks a significant slump in demand on already sluggish-take-up, with 465 cars registered through the scheme in Q1 and 215 in Q2 . However, trade body the Society of Motor Manufacturers and Traders (SMMT) pointed out that all electric car registrations – both inside and out of the grant scheme – have gone from 167 in 2010 to 940 in 2011. Electric car campaigners and industry had hoped this would be the year the year the cars – billed as a clean low carbon alternative to conventional petrol and diesel models – made a breakthrough. Former transport secretary Phillip Hammond said in January : “Government action to support affordable vehicles and more local charging points means we are on the threshold of an exciting green revolution – 2011 could be remembered as the year the electric car took off.” The number of electric vehicles in the UK stands at just 1,107, a tiny chunk of the country’s 28.5m cars. But the government had hoped to incentivise take-up with the launch of grants of up to £5,000, preserving the grant during last summer’s cuts and putting aside £43m , or enough for 8,600 cars, until March 2012. The scheme is due to be reviewed in January. A paucity of electric car models could be to blame for the slow uptake, with drivers currently only having a choice of five models eligible for the grant, including the well-reviewed Nissan Leaf . Upfront prices are also relatively high – the Leaf costs £25,990 even accounting for the £5,000 grant – though fuel costs are significantly lower . Transport minister, Norman Baker, blamed a lack of choice for consumers: “It is nonsense to say the market has ‘sputtered out’. The availability of qualifying cars, rather than the public appetite for them is part of the problem. I have every confidence that that will change in the next few months and we will begin to see sales of ultra-low carbon cars improve.” Other high profile models, including the extended range Vauxhall Ampera , family size Renault Fluence ZE and plug-in version of the popular Toyota Prius , are not due to on sale until next year. Marc Rinkel, senior analyst on EMEA Powertrain Forecasting at IHS Automotive , said a lack of infrastructure and the economic climate were likely to blame: “Despite the £5,000 incentive, it’s still early days for electric vehicles. Yes, the sluggish take-up has to do with the lack of charging points and a very limited product range. “In addition, compared to the beginning of 2011, consumer confidence has been further downgraded with the increasing risk of another economic downturn. This is not helping risk-taking for new and expensive technology and it is certainly another explanation behind the slumping demand.” Green campaigners called for more charging points for electric vehicles, and said energy generation should be “decarbonised” to make the cars lower carbon. Tony Bosworth, the Friends of the Earth transport campaigner, said: “In the medium term most motorists will still buy diesel and petrol cars, so making these [conventional] vehicles run on less fuel must be the top priority. But electric cars powered by clean energy are one of the key ways to get ourselves off the fossil fuel hook – and away from pricey petrol – in the long run. “The government must press on with building a 21st century car fleet by providing grants and investing in a UK-wide network of charging points to encourage drivers to ditch petrol for electrons.” The figures come as a new documentary, Revenge of the Electric Car, opens in the US on Friday , charting the rapid rise in popularity of electric cars in the US and the success of the Chevy Volt . Electric, hybrid and low-emission cars Carbon emissions Philip Hammond Travel and transport Ethical and green living Motoring Adam Vaughan guardian.co.uk

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Philip Hammond quells doubts over commitment to Trident replacement

New defence secretary confirms that he will pursue renewal of nuclear deterrent that could cost up to £25bn Britain will continue its plans to replace the Trident nuclear deterrent, the defence secretary has confirmed, as he moved to dispel speculation that he was less committed to the project. Philip Hammond made clear that he would pursue the renewal plans, which could cost up to £25bn for four new submarines. His predecessor Liam Fox, who resigned last week, was strongly committed to Trident despite the project’s huge cost, and the likely burden it will put on the already overstretched budget at the Ministry of Defence. There had been talk at Westminster that Hammond might have a rethink, with experts noting that he had missed a vote in parliament on the need for Britain to have a “continuous at sea deterrence”. But in his first interview Hammond dismissed the doubters and said he was “absolutely committed” to Trident and always had been. He said he had only missed the parliamentary vote on the issue because he was “out on a visit on the route of the high-speed railway proposal”. “Had I been there I would have voted in favour,” he said. Fox announced in May that the government had approved “initial gate” – up to £7bn for the technical and design assessments needed for the renewal of Trident. The decision on “main gate” – the green light for construction of the submarines–was delayed until 2016 – after the next general election. This led to calls for ministers to consider reducing the number of submarines from four to three to cut costs, particularly as the £25bn does not include the money needed to buy new warheads. The difficulties surrounding the renewal of Trident were underlined earlier this month in a report by Professor Malcolm Chalmers, of the Royal United Services Institute thinktank. He said renewing Britain’s nuclear deterrent was “the largest and politically most difficult procurement programme” for the MoD over the next 20 years, and predicted that unless the Treasury provided more cash to fund it, the department would have to make further drastic cuts to services and personnel. Hammond insisted that the budget squeeze, and a redundancy programme that will mean up to 60,000 jobs being axed in the coming years, would not prevent Britain having a viable armed forces. “We have had to make some serious budget cuts,” he said. “My predecessor has successfully negotiated with the Treasury a settlement that will allow the UK to continue to project force abroad, to continue to have viable and sustainable armed forces in the future.” The cuts have hit all three services, and the start of the civilian jobs cull has now begun, with 3,000 staff leaving this month. Steve Jary, from the Prospect union, said: “By destroying its specialist capability, the MoD is putting the lives of troops at risk.” Philip Hammond Trident Defence policy Nuclear weapons Military Nick Hopkins guardian.co.uk

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A bipartisan proposal in the Senate hopes to give out three-year visas to foreigners who drop $500,000 in cash on real estate in the United States. Participants wouldn’t be allowed to work in the country without applying for another visa and would have to pay U.S. taxes. The Los Angeles Times reports that the plan

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