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Talking Babies

YouTube link. Your task, should you choose to accept it, is to determine what they are talking about. The missing sock? Or something more profound? Via Reddit, where it is speculated that they are Italian (because of all the hand gestures). Broadcasting platform : YouTube Source : Neatorama Discovery Date : 29/03/2011 06:29 Number of articles : 4

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S&P slashes Portugal’s credit rating

Portugal’s borrowing costs hit record levels after S&P cuts its credit rating to the brink of junk status Portugal’s financial woes deepened on Tuesday as its borrowing costs rose to record levels after the ratings agency Standard & Poor’s (S&P) cut its rating to the brink of “junk” status. Gary Jenkins, head of fixed income research at brokers Evolution, said the cut in the rating to BBB- “raised the probability” that the country would be forced to accept a bailout. “This is one false step from being junked,” said Jenkins. “It’s very unlikely the market will be prepared to fund Portugal anytime soon.” Portugal has a debt repayment due on 15 April and another in June. But the price the market is likely to demand from Portugal to raise fresh funds is expected to be too high for the country to finance itself without external assistance. Yields – interest rates – on two-year bond hit a new high of 7.69% on Tuesday, while yields on 10-year bonds were at a record, and edging closer to 8.2%. Any price above 7% is regarded as unsustainable by analysts. S&P said it was cutting the sovereign credit ratings on Portugal by one notch to BBB- and putting the country’s outlook on “negative” because of the problems it would face in financing itself. The BBB- rating is one notch above junk – and the further the country falls towards junk the higher its borrowing costs will be. S&P’s BBB- rating is much lower than Moody’s A3 and Fitch Ratings’ A-. S&P said that it felt likely that Portugal, whose prime minister José Sócrates resigned last week when the parliament failed to pass the austerity budget, would need assistance from the European financial stability facility (EFSF) and the European stability mechanism (ESM). “Given Portugal’s weakened capital market access and its likely considerable external financing needs in the next few years, it is our view that Portugal will likely access the EFSF and thereafter the ESM,” S&P said. “The negative outlook reflects our view that the macroeconomic environment could weaken beyond our current expectations and that a political impasse could undermine the effective implementation of Portugal’s adjustment programme, leading to non-negligible policy slippages,” the agency added. “[We] assume that a new government will be formed by the end of the second quarter of 2011. We expect the next government will agree to further fiscal and structural reforms as part of an EU/IMF program.” Ratings agencies Portugal European debt crisis Financial sector Economics Global economy Europe Europe Jill Treanor guardian.co.uk

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S&P slashes Portugal’s credit rating

Portugal’s borrowing costs hit record levels after S&P cuts its credit rating to the brink of junk status Portugal’s financial woes deepened on Tuesday as its borrowing costs rose to record levels after the ratings agency Standard & Poor’s (S&P) cut its rating to the brink of “junk” status. Gary Jenkins, head of fixed income research at brokers Evolution, said the cut in the rating to BBB- “raised the probability” that the country would be forced to accept a bailout. “This is one false step from being junked,” said Jenkins. “It’s very unlikely the market will be prepared to fund Portugal anytime soon.” Portugal has a debt repayment due on 15 April and another in June. But the price the market is likely to demand from Portugal to raise fresh funds is expected to be too high for the country to finance itself without external assistance. Yields – interest rates – on two-year bond hit a new high of 7.69% on Tuesday, while yields on 10-year bonds were at a record, and edging closer to 8.2%. Any price above 7% is regarded as unsustainable by analysts. S&P said it was cutting the sovereign credit ratings on Portugal by one notch to BBB- and putting the country’s outlook on “negative” because of the problems it would face in financing itself. The BBB- rating is one notch above junk – and the further the country falls towards junk the higher its borrowing costs will be. S&P’s BBB- rating is much lower than Moody’s A3 and Fitch Ratings’ A-. S&P said that it felt likely that Portugal, whose prime minister José Sócrates resigned last week when the parliament failed to pass the austerity budget, would need assistance from the European financial stability facility (EFSF) and the European stability mechanism (ESM). “Given Portugal’s weakened capital market access and its likely considerable external financing needs in the next few years, it is our view that Portugal will likely access the EFSF and thereafter the ESM,” S&P said. “The negative outlook reflects our view that the macroeconomic environment could weaken beyond our current expectations and that a political impasse could undermine the effective implementation of Portugal’s adjustment programme, leading to non-negligible policy slippages,” the agency added. “[We] assume that a new government will be formed by the end of the second quarter of 2011. We expect the next government will agree to further fiscal and structural reforms as part of an EU/IMF program.” Ratings agencies Portugal European debt crisis Financial sector Economics Global economy Europe Europe Jill Treanor guardian.co.uk

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Japan ‘has lost race’ to halt meltdown

Fukushima meltdown fears rise after radioactive core melts through vessel – but ‘no danger of Chernobyl-style catastrophe’ The radioactive core in a reactor at the crippled Fukushima nuclear power plant appears to have melted through the bottom of its containment vessel and on to a concrete floor, experts say, raising fears of a major release of radiation at the site. The warning follows an analysis by a leading US expert of radiation levels at the plant. Readings from reactor two at the site have been made public by the Japanese authorities and Tepco, the utility that operates it. Richard Lahey, who was head of safety research for boiling-water reactors at General Electric when the company installed the units at Fukushima, told the Guardian workers at the site appeared to have “lost the race” to save the reactor, but said there was no danger of a Chernobyl-style catastrophe. Workers have been pumping water into three reactors at the stricken plant in a desperate bid to keep the fuel rods from melting down, but the fuel is at least partially exposed in all the reactors. At least part of the molten core, which includes melted fuel rods and zirconium alloy cladding, seemed to have sunk through the steel “lower head” of the pressure vessel around reactor two, Lahey said. “The indications we have, from the reactor to radiation readings and the materials they are seeing, suggest that the core has melted through the bottom of the pressure vessel in unit two, and at least some of it is down on the floor of the drywell,” Lahey said. “I hope I am wrong, but that is certainly what the evidence is pointing towards.” The major concern when molten fuel breaches a containment vessel is that it reacts with the concrete floor of the drywell underneath, releasing radioactive gases into the surrounding area. At Fukushima, the drywell has been flooded with seawater, which will cool any molten fuel that escapes from the reactor and reduce the amount of radioactive gas released. Lahey said: “It won’t come out as one big glob; it’ll come out like lava, and that is good because it’s easier to cool.” The drywell is surrounded by a secondary steel-and-concrete structure designed to keep radioactive material from escaping into the environment. But an earlier hydrogen explosion at the reactor may have damaged this. “The reason we are concerned is that they are detecting water outside the containment area that is highly radioactive and it can only have come from the reactor core,” Lahey added. “It’s not going to be anything like Chernobyl, where it went up with a big fire and steam explosion, but it’s not going to be good news for the environment.” The radiation level at a pool of water in the turbine room of reactor two was measured recently at 1,000 millisieverts per hour. At that level, workers could remain in the area for just 15 minutes, under current exposure guidelines. A less serious core meltdown happened at the Three Mile Island nuclear plant in Pennsylvania in 1979. During that incident, engineers managed to cool the molten fuel before it penetrated the steel pressure vessel. The task is a race against time, because as the fuel melts it forms a blob that becomes increasingly difficult to cool. In the light of the Fukushima crisis, Lahey said all countries with nuclear power stations should have “Swat teams” of nuclear reactor safety experts on standby to give swift advice to the authorities in times of emergency, with international groups co-ordinated by the International Atomic Energy Authority. The warning came as the Japanese authorities were being urged to give clearer advice to the public about the safety of food and drinking water contaminated with radioactive substances from Fukushima. Robert Peter Gale, a US medical researcher who was brought in by Soviet authorities after the Chernobyl disaster, in 1986, has met Japanese cabinet ministers to discuss establishing an independent committee charged with taking radiation data from the site and translating it into clear public health advice. “What is fundamentally disturbing the public is reports of drinking water one day being above some limit, and then a day or two later it’s suddenly safe to drink. People don’t know if the first instance was alarmist or whether the second one was untrue,” said Gale. “My recommendation is they should consider establishing a small commission to independently convert the data into comprehensible units of risk for the public so people know what they are dealing with and can take sensible decisions,” he added. Japan disaster Japan Nuclear power Energy Ian Sample guardian.co.uk

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Japan ‘has lost race’ to halt meltdown

Fukushima meltdown fears rise after radioactive core melts through vessel – but ‘no danger of Chernobyl-style catastrophe’ The radioactive core in a reactor at the crippled Fukushima nuclear power plant appears to have melted through the bottom of its containment vessel and on to a concrete floor, experts say, raising fears of a major release of radiation at the site. The warning follows an analysis by a leading US expert of radiation levels at the plant. Readings from reactor two at the site have been made public by the Japanese authorities and Tepco, the utility that operates it. Richard Lahey, who was head of safety research for boiling-water reactors at General Electric when the company installed the units at Fukushima, told the Guardian workers at the site appeared to have “lost the race” to save the reactor, but said there was no danger of a Chernobyl-style catastrophe. Workers have been pumping water into three reactors at the stricken plant in a desperate bid to keep the fuel rods from melting down, but the fuel is at least partially exposed in all the reactors. At least part of the molten core, which includes melted fuel rods and zirconium alloy cladding, seemed to have sunk through the steel “lower head” of the pressure vessel around reactor two, Lahey said. “The indications we have, from the reactor to radiation readings and the materials they are seeing, suggest that the core has melted through the bottom of the pressure vessel in unit two, and at least some of it is down on the floor of the drywell,” Lahey said. “I hope I am wrong, but that is certainly what the evidence is pointing towards.” The major concern when molten fuel breaches a containment vessel is that it reacts with the concrete floor of the drywell underneath, releasing radioactive gases into the surrounding area. At Fukushima, the drywell has been flooded with seawater, which will cool any molten fuel that escapes from the reactor and reduce the amount of radioactive gas released. Lahey said: “It won’t come out as one big glob; it’ll come out like lava, and that is good because it’s easier to cool.” The drywell is surrounded by a secondary steel-and-concrete structure designed to keep radioactive material from escaping into the environment. But an earlier hydrogen explosion at the reactor may have damaged this. “The reason we are concerned is that they are detecting water outside the containment area that is highly radioactive and it can only have come from the reactor core,” Lahey added. “It’s not going to be anything like Chernobyl, where it went up with a big fire and steam explosion, but it’s not going to be good news for the environment.” The radiation level at a pool of water in the turbine room of reactor two was measured recently at 1,000 millisieverts per hour. At that level, workers could remain in the area for just 15 minutes, under current exposure guidelines. A less serious core meltdown happened at the Three Mile Island nuclear plant in Pennsylvania in 1979. During that incident, engineers managed to cool the molten fuel before it penetrated the steel pressure vessel. The task is a race against time, because as the fuel melts it forms a blob that becomes increasingly difficult to cool. In the light of the Fukushima crisis, Lahey said all countries with nuclear power stations should have “Swat teams” of nuclear reactor safety experts on standby to give swift advice to the authorities in times of emergency, with international groups co-ordinated by the International Atomic Energy Authority. The warning came as the Japanese authorities were being urged to give clearer advice to the public about the safety of food and drinking water contaminated with radioactive substances from Fukushima. Robert Peter Gale, a US medical researcher who was brought in by Soviet authorities after the Chernobyl disaster, in 1986, has met Japanese cabinet ministers to discuss establishing an independent committee charged with taking radiation data from the site and translating it into clear public health advice. “What is fundamentally disturbing the public is reports of drinking water one day being above some limit, and then a day or two later it’s suddenly safe to drink. People don’t know if the first instance was alarmist or whether the second one was untrue,” said Gale. “My recommendation is they should consider establishing a small commission to independently convert the data into comprehensible units of risk for the public so people know what they are dealing with and can take sensible decisions,” he added. Japan disaster Japan Nuclear power Energy Ian Sample guardian.co.uk

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Mark Cuban Still Eats 7-Eleven Hot Dogs

Mark Cuban still eats hot dogs from 7-Eleven. That’s not the only surprising spending habit the billionaire owner of the Dallas Mavericks revealed in an interview with the Associated Press. (March 29)

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PM Says Japan "maximum Alert" Over Nuke Crisis

As the crisis surrounding Japan’s stricken nuclear power plant deepens, Prime Minister Naoto Kan told parliament that the country is on “maximum alert.” That follows the revelation plutonium is leaking into the soil around the facility. (March 29)

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At an event hosted by Rep. Steve King in Iowa last weekend, the clown car of would-be Republican White House hopefuls quickly put to rest quickly any notion of a “truce” on social issues. And while Newt Gingrich seemed to question whether Islam was a “true religion,” former pizza mogul Herman Cain declared that as president he would not appoint a Muslim to his cabinet. But before you brush off Cain’s as the ranting of a fringe conservative, it’s worth remembering that GOP frontrunner Mitt Romney said pretty much the same thing. For Republicans now holding show trials into the loyalty of American Muslims and waging a crusade against the mythical threat of Sharia law in the United States, ignoring the Constitution’s prohibitions on religious tests for office is just the latest step on a slippery slope. On Saturday, Cain made the jump with both feet. Asked, “Would you be comfortable appointing a Muslim, either in your cabinet or as a federal judge?” Cain responded: No, I would not. And here’s why. There is this creeping attempt, there is this attempt to gradually ease Sharia law and the Muslim faith into our government. It does not belong in our government. This is what happened in Europe. And little by little, to try and be politically correct, they made this little change, they made this little change. And now they’ve got a social problem that they don’t know what to do with hardly. The question that was asked that “raised some questions” and, as my grandfather said, “I does not care, I feel the way I feel.” Apparently, Mitt Romney feels the same way. In November 2007 , the former Massachusetts Governor said as much to Mansoor Ijaz at a fundraiser in Las Vegas. As Ijaz recounted: I asked Mr. Romney whether he would consider including qualified Americans of the Islamic faith in his cabinet as advisers on national security matters, given his position that “jihadism” is the principal foreign policy threat facing America today. He answered, “…based on the numbers of American Muslims [as a percentage] in our population, I cannot see that a cabinet position would be justified. But of course, I would imagine that Muslims could serve at lower levels of my administration.” Despite Romney’s subsequent denials, Greg Sargent and Steve Benen documented other witnesses and other occasions during which Mitt repeated his No Muslims Need Apply policy. Given his own membership in a small religious minority, one might expect more openness and tolerance from the Mormon Romney. But the next month, Romney doubled-down on his religious test during his much-hyped “Faith in America” speech . The man who in 2006 declared , “People in this country want a person of faith to lead them as their president” in December 2007 added atheists to his list of those to be excluded from the American community: “I believe that every faith I have encountered draws its adherents closer to God. And in every faith I have come to know, there are features I wish were in my own: I love the profound ceremony of the Catholic Mass, the approachability of God in the prayers of the Evangelicals, the tenderness of spirit among the Pentecostals, the confident independence of the Lutherans, the ancient traditions of the Jews, unchanged through the ages, and the commitment to frequent prayer of the Muslims.” Just as long as those frequent prayers aren’t heard in President Romney’s or President Cain’s Cabinet Room. Fifty years after John F. Kennedy took the oath of the office as the nation’s first Catholic President, his would-be Republican successors seem determined to erase his message of tolerance delivered to the Southern ministers in 1960: “For while this year it may be a Catholic against whom the finger of suspicion is pointed, in other years it has been — and may someday be again — a Jew, or a Quaker, or a Unitarian, or a Baptist. It was Virginia’s harassment of Baptist preachers, for example, that led to Jefferson’s statute of religious freedom. Today, I may be the victim, but tomorrow it may be you — until the whole fabric of our harmonious society is ripped apart at a time of great national peril.” For his part, Rick Santorum welcomes that peril. Earlier this month, the Catholic ex-Senator told , who was not among Saturday’s speakers, said he was “frankly appalled” at JFK’s declaration that “I believe in an America where the separation of church and state is absolute.” As the Boston Globe recorded: “That was a radical statement,” Santorum said, and it did “great damage.” Of course, if Republicans retake the White House in 2012, the real damage to American traditions of religious liberty and diversity will begin. UPDATE: On Monday, Cain like Romney before him tried to walk back his unconstitutional prohibition against Muslims serving in the highest appointed positions in the land. (This piece also appears at Perrspectives .)

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Syria Cabinet Resigns Amid Unrest

DAMASCUS, Syria — Syria’s Cabinet resigned Tuesday to help quell a wave of popular fury that erupted more than a week ago and is now threatening President Bashar Assad’s 11-year rule in one of the most authoritarian and closed-off nations in the Middle East. Assad, whose family has controlled Syria for four decades, is trying to calm the growing dissent with a string of concessions. He is expected to address the nation in the next 24 hours to lift emergency laws in place since 1963 and moving to annul other harsh restrictions on civil liberties and political freedoms. More than 60 people have died since March 18 as security forces cracked down on protesters, Human Rights Watch said….

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Motorola Xoom officially landing in UK next week, still has to finalize pricing and SKUs

As much as we love our rumormongering, a good hard confirmation never goes astray around these parts, and we’ve just heard directly from Moto that its Xoom tablet will be arriving in the UK next week. When precisely, we don’t know, but the major electronics retailers will all be playing their part — Dixons (and its subsidiaries Currys and PC World) plus the Carphone Warehouse were specifically named. As to pricing, we’ve seen pretty strong indications that it’ll be

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