European stock markets fall as Eurostat data shows French GDP was flat in the second quarter The French economy failed to grow in the last quarter as households across the country cut their spending, in the latest sign that Europe’s economy is stumbling. Data released by Eurostat, the region’s statistics body, on Friday showed that French GDP was stagnant between April and June. Economists had expected the economy to grow by around 0.3%. The disappointing data helped to send stock markets across Europe lower at the start of trading, with the FTSE 100 falling 40 points to 5122. France’s CAC 40 was down 1.9% at 3030.48. Household consumption in France fell by 0.7% compared with the first three months of 2011, increasing the pressure on president Nicolas Sarkozy to convince financial markets that he can meet his fiscal targets. Sarkozy has promised to release revised plans to cut France’s budget deficit within days. Finance minister François Baroin said the French government had no plans to change its targets for GDP growth on the back of one quarter’s data. He also pointed out that France’s economy had grown by 0.9% in the first three months of 2011. “For this year we are in line [with targets],” Baroin told French radio. In contrast, the UK economy grew by 0.5% in the first quarter of 2011, and 0.2% in the second. Baroin also insisted that France’s banks were among the safest in the world, just hours after regulators banned traders from ‘short-selling’ certain financial stocks in France, Italy, Spain and Belgium . Despite this move, shares in Société Générale and BNP Paribas fell by more than 3% in early trading. France has also denied that its AAA credit rating is at risk. Global economy Europe Europe Global recession Economics France Financial crisis Graeme Wearden guardian.co.uk
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Continue reading …If you were impressed by CompuLab’s Trim Slice that was released a few months back, wait’ll you get a load of the new model that’s on its way. Available near the end of August, the new diminutive desktop will be powered by NVDIA’s Tegra 2 SoC like its elder sibling. In order to differentiate itself from the previous release, this build incorporates an accessible SATA hard disk bay, so that “ARM users are no longer deprived of choice when it comes to storage.” Sounds great, right? You’ll also be able to choose between two models. The Trim Slice H Diskless will allow you to add your own HDD or SSD for $279, while the $319 H250 comes with Linux pre-installed on a 250GB HDD. Both of these beasts will showcase 1GHz chips, 1GB RAM, HDMI and DVI ports, Gigabit Ethernet, built-in 802.11n WiFi, 4 USB ports, 2 SD slots, an RS232 serial port and USB Bluetooth adapter. Whew… while we catch our breath, scope out the pics in the gallery, and check the full PR below. [Thanks, Irad] Gallery: Trim Slice H mini PC Continue reading CompuLab introduces Trim Slice H mini Tegra 2 computer, keeps desks clear of PC clutter CompuLab introduces Trim Slice H mini Tegra 2 computer, keeps desks clear of PC clutter originally appeared on Engadget on Fri, 12 Aug 2011 04:04:00 EDT. Please see our terms for use of feeds . Permalink
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Continue reading …For most of us, the decision to move to flash-based storage has been one wrought with compromise: suffer through a year of ramen to afford a capacious SSD, or splurge on steak and settle for a cramped one. While we await our platterless future, Samsung keeps on chuggin’, having just begun volume production of a speedier line of solid state drives it calls the PM830. Available in 128, 256 or 512GB flavors, they tout 20nm-class MLC NAND flash and SATA 6Gb/s support — which equates to 500MB/s reads and 350MB/s writes, or almost double last year’s model . Before you reach for the plastic, know that the line is available only to OEMs — you know, computer manufacturers — with the firm promising consumer-friendly goodies for all you DIY types soon. Of course, no word on when that’ll be or how much they’ll cost, but at least the PR after the break’s free, right? Continue reading Samsung’s speedy 6Gbps SSDs shreds bits, blows minds Samsung’s speedy 6Gbps SSDs shreds bits, blows minds originally appeared on Engadget on Fri, 12 Aug 2011 02:57:00 EDT. Please see our terms for use of feeds . Permalink
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Continue reading …Public anger as China’s rail industry suffers fresh blow only weeks after 40 killed in high-speed crash China’s second-biggest trainmaker is to recall 54 bullet trains used on the new showcase Beijing-Shanghai line for safety reasons, dealing a fresh blow to the nation’s rail system. The recall of the trains by China CNR Corp Ltd comes three weeks after 40 people were killed in a high-speed rail crash, which triggered public fury , unusually bold media coverage and a freeze on approvals for new railway projects . China’s high-speed rail drive was until recently held up by senior government officials as a symbol of the nation’s technological prowess. Now it has become a political albatross, drawing scorn from many citizens already frustrated with the hulking railways ministry. China’s fast-growing microblog websites have served to amplify public anger , and the recall drew more catcalls on the popular Weibo site. “Wasn’t this locomotive the most advanced type, and put into use only after many tests? So how come the problems were discovered after they were put into operation? What a miracle,” wrote one Weibo user. “Can we also recall the Ministry of Railways?,” asked another. Officials blamed July’s crash first on a lightning strike and then on faulty signals technology. But on Friday Chinese media quoted a senior investigator as saying the crash also exposed management failings and could have been avoided. “There were serious flaws in the system design that led to an equipment failure,” said Luo Lin, the minister of China’s State Administration of Work Safety, who is leading the investigation. “At the same time, this exposed problems in emergency response and safety management after the failure occurred,” the Beijing Times cited Luo as saying. “This was a major accident involving culpability that could have been totally avoided,” he said. Industry analyst Lu Zhou said the recalls added to signs that China’s high-speed railway boom faced bleak times. “The government is putting a sudden brake on China’s high-speed railway story, and we must wait for the bad days to pass over,” said Lu, an analyst with Everbright Securities in Shanghai. “A Great Leap Forward-style movement in China’s high-speed railway is changing abruptly to a period of silence, and that could last a few years,” he said. The Great Leap Forward was Mao Zedong’s disastrous effort in the late 1950s to catapult China into communist prosperity. But China could not afford to curtail train investment in the longer-term, said Luo. “After all, China’s railway system can’t go back to the old days of shabby green cars.” China Rail transport Rail travel guardian.co.uk
Continue reading …US Secretary of State Hillary Clinton has called for wider international sanctions on Syria as the government’s violent crackdown on dissent continues. Mrs Clinton said China and India in particular could significantly increase pressure on President Bashar al-Assad because of their energy investments. She said the US did not want to call for Mr Assad to stand down without getting the backing of other countries. Activists say at least 16…
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