Thursday, April 11, 2013

Greece: international law to determine reparations

ATHENS, Greece (AP) ? Greece's foreign minister says international law will determine whether Germany still owes Greece money for forced World War II loans, the latest statement in a growing spat over war reparations.

Dimitris Avramopoulos said Thursday there was no relationship between the issue and Greece's international financial bailout. During negotiations for the bailout, Germany pressed Greece hard for unpopular austerity measures.

Avramopoulos spoke Thursday in response to German Finance Minister Wolfgang Schaeuble, who was quoted by media as suggesting Greece should focus on reforming its economy, and that the issue of war reparations was definitively closed years ago.

A special committee set up by the Greek government to look into the matter completed a report last month. Greece's legal council will review the documents before determining if any action should be taken.

Source: http://news.yahoo.com/greece-international-law-determine-reparations-131208612.html

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Select Disney apps now free in the Play Store (updated)

Temple Run

Get six of Disney's previously 99 cent apps, for free

Update: all 6 of the Disney apps have gone back to 99 cents. It appears this was an error in Play Store pricing that only lasted a few hours. The original story is below.

Six of Disney's apps went on sale today in the Play Store. Previously coming in at 99 cents each, all six can now be downloaded for free. This includes one live wallpaper and five games:

It's interesting that some of these apps already have free versions in the Play Store, and Disney chose to also offer their 99 cent counterparts for free. We don't know how long these apps will stay in the Play Store as free downloads, or if more will be added to the list, so download them now if any of these interest you or your kids. Temple Run has always been very popular, and Wreck-It Ralph was previously chosen as an App of the Week. Feel free to hit the comments with your own picks and recommendations.

Update: Apparently that was a temporary feature bug, and you should now have to shell out for the apps again. Hope you grabbed 'em while you could.

Thanks, Abhishek!

    


Source: http://feedproxy.google.com/~r/androidcentral/~3/Syr7KZSeL7k/story01.htm

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Apps help U.S. consumers rent from each other

By Natasha Baker

TORONTO (Reuters) - Whether it is houses, cars, luxury clothing or sports equipment, more consumers are opting to rent, borrow or lease than buy, and a range of new apps are helping them do it online.

In the last two years, more than half of Americans surveyed said they had rented items they would have purchased in the past, according to a poll about buying habits commissioned by solar panel rental company Sunrun.

The trend toward renting was highest in people 55 years and older, the poll of 2,252 Americans found.

"There's a return to simplicity, a return to cutting down on waste and being a little bit smarter about how you spend your money and what you buy," Sunrun co-founder Lynn Jurich said.

Getaround, which is available for iPhone users and on the web, is a free car-sharing app that allows users to rent vehicles from other people. Users can find nearby cars, reserve them and unlock them with the app. Another free app called RelayRides provides a similar service.

For consumers interested in ride-sharing, SideCar and Lyft, both available for iPhone and Android, help people hitch rides for a fee. The service can be less expensive than taxis and gives riders an opportunity to meet new people.

The apps use social networks, such as Facebook, to show the identity of the user and provider, and any mutual associations, to make people feel more comfortable doing business with strangers online, said Arun Sundararajan, a professor at New York University's Stern School of Business and an expert on digital economics.

"Relationships and ties that exist in the real world are now available to marketplaces to take advantage of. They don't have to build trust from scratch to get people to participate," he said.

On DogVacay, an iPhone and web app that helps vacationing pet owners find temporary care for their dog, identities are verified via Facebook and telephone interviews.

Car-sharing apps such as Getaround provide insurance coverage for both the car owner and driver for liability, collision and theft. Airbnb, an app for private rental accommodations, offers property owners up to a $1 million insurance guarantee.

While a downturn in the economy and a return to simplicity may be fueling the trend and the apps that support it, Sundararajan believes demand will continue, even if the economy bounces back strongly.

"In many ways, it's just as much about getting access to greater variety and quality," he said.

(Editing by Patricia Reaney and Stacey Joyce)

Source: http://news.yahoo.com/apps-help-u-consumers-rent-other-185746417.html

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QUIZ: How Well Do You Know Lindsay Lohan's Scandals?

LiLo was sentenced to rehab (again!) on March 18 and will begin her stay on May 2. Test your knowledge of her troubled life!

Source: http://www.ivillage.com/lindsay-lohan-trivia-quiz/1-b-291924?dst=iv%3AiVillage%3Alindsay-lohan-trivia-quiz-291924

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Wednesday, April 10, 2013

Sell or Hold? What to Do with Your Depressed Junior Mining Stocks ...

Sell or Hold? What to Do with Your Depressed Junior Mining Stocks

The S&P/TSX Venture Composite Index has declined nearly 30 percent in the past year. It?s now down to around 1,041 points, a level not seen since May 2009.

Meanwhile, the entire junior mining sector appears to be headed for a shakeout: as of December 2012, 632 of the 1,803 juniors that John Kaiser, publisher of the Kaiser Bottom-Fishing Report newsletter, was tracking had less than $200,000 of working capital. As a result, Kaiser feels that about 500 juniors could be about to disappear, barring a swift turnaround in the sector.

These circumstances, understandably, have investors in junior mining companies ? many of whom are holding stocks that along with the overall market have fallen dramatically ? feeling nervous.

In light of the current situation, Resource Investing News (RIN) sought out the opinions of three resource investing experts: Mickey Fulp of the Mercenary Geologist website; Lawrence Roulston, publisher of the Lawrence Roulston?s Resource Opportunities newsletter; and Rick Rule, chairman of Sprott US Holdings. See their views on today?s junior market, and where things could go from here, below.

RIN: Do you have any advice for resource investors who are seriously underwater on the juniors they?re holding? Should they sell now to avoid further losses? Double down? Hold for the long haul?

Rick Rule: An investor needs to revisit every stock in their portfolio periodically and reacquaint themselves with why they own every position. If their original thesis is valid, great ? buy or hold. If not, then sell. Too many investors regard the market as a source of information, which it is not. It is a facility for buying and selling fractional ownership of businesses. If the business is cheap, one buys. If it is dear, one sells.

Lawrence Roulston: Never in my 30 years in this business has it been more important to differentiate between companies in your portfolio. Lots of stocks have little or no fundamental value and will decline further as they trend toward zero. Others are good companies that are trading at absurdly low valuations. Investors need to take a hard look at their investments. If they?re holding shares of companies that have drilled holes, haven?t found anything and are running out of money, it?s a terrible mistake to sit on them waiting for a rising tide. Move on.

Mickey Fulp: All of the above. It really depends on the stock. You need to carefully look through your holdings and sell the ones that don?t have a prayer. But this is not the time to be taking tax losses. That?s something you do at the end of the year when you know how much money you?ve made. But if you find something that?s strong and trading near the bottom, you could sell some of your dogs to generate cash to invest in that company.

RIN: What is a better strategy right now, being a technical investor and buying and selling on the dips and surges? Or just ignoring the noise and concentrating on a company?s fundamentals?

Rick Rule: I am only interested in fundamentals. A trader can use technical analysis, but I could not advise that person.

Lawrence Roulston: Technical investing makes no sense with juniors because they are so thinly traded.

Mickey Fulp: I pay little attention to technical analysis. I always trade based on fundamentals.

RIN: Is it a good strategy to try and time the market by paying particular attention to what the US Fed is doing, for example?

Rick Rule: In the near term, markets are voting machines, a measure of people?s sentiments. In the long term, they are weighing machines, a facility for determining value. Making money in capital-intensive cyclical markets like resources is a function of arbitraging the differentials between the mob?s emotions and real, tangible valuations. I think many issues are cheap, so I am buying, but I suspect they will get cheaper.

Lawrence Roulston: Market timing doesn?t make sense because positive moves in the wider market are not translating in the resource market. I think the fundamentals of the resource market are strong, but the perception is very negative right now. Investors need to look beyond the day-to-day dips and take a longer-term view. For example, right now we?re hearing a lot about gold being down, but historically speaking, gold prices are actually up.

Mickey Fulp: I pay attention to macroeconomic factors all the time because commodity prices, for example, drive the junior market. As for market timing, I always try to time the market by buying a stock at a low and selling at a high. If you look at the 52-week chart of any junior, it will have a high that is double the low, or more. That?s the nature of the business. We follow a contrarian strategy of buying stocks low, when no one wants them, and selling at a high, when everyone is clamoring to get in. After it doubles, sell half and trade with other people?s money.

RIN: If the stock market bubble bursts in the United States, what effect will that have on the TSX Venture, where most junior mining stocks are traded?

Rick Rule: Stocks are stocks. If US equity markets falter, the TSXV will get creamed, and good valuations will become extraordinary.

Lawrence Roulston: If there was strength in the junior market right now, I would be concerned. But right now, I don?t see a lot of downside risk because of the absurdly low prices.

Mickey Fulp: We are not in a stock market bubble. I object to that classification. I do, however, feel that stocks are overbought and due for a correction. If there is a correction, it will negatively affect the TSX Venture Exchange because it?s home to the riskiest stocks on the planet. Right now, what?s happening on the TSXV reflects a serious aversion to risk among investors. A stock market correction in the US would lower the tolerance for risk even more.

RIN: Are you pessimistic or optimistic on the junior mining market turning around any time soon?

Rick Rule: I think the aggregate TSXV is valueless and will continue lower. I think the very high-quality names are basing now, on fund capitulation, and will head up this fall.

Lawrence Roulston: It will be another six to 12 months before someone rings a bell and we see a bottom. During that time, certain companies will generate big returns, and I think quality is still being recognized by the market. I think many stocks? gains will be event driven, such as by companies achieving milestones or being taken over. I also see private equity playing a bigger role. Right now, private equity is seeing value in the sector, and they are going to get aggressive.

Mickey Fulp: I?d need a clear definition of ?any time soon,? but I don?t see any catalysts on the horizon that are going to lead to a turnaround in the near term. The market is going through a bear cycle that needs to complete. There are a number of weak junior mining stocks ? about half the TSXV ? that need to go away. However, there are screaming buys right now: companies with good projects that are trading at or less than cash. So if you like something, accumulate it.

?

Securities Disclosure: I, Chad Fraser, hold no positions in any of the companies mentioned in this article.

Related videos:?

INN VIDEO: Why Rick Rule Likes Gold Juniors

INN VIDEO: Lawrence Roulston on Junior Investing Strategies

INN VIDEO: Mickey Fulp on the Great Junior Mining Shakeout

Source: http://resourceinvestingnews.com/53294-sell-hold-depressed-junior-mining-stocks-rick-rule-lawrence-roulston-mickey-fulp-investing-outlook-tsx-venture.html

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US expected to increase aid to Syrian rebels

British Foreign Secretary William Hague, right, greets US Secretary of State John Kerry ahead of a meeting in the Foreign and Commonwealth Office in central London, Wednesday April 10, 2013. Kerry is meeting in London with Syrian opposition leaders and Russia's top diplomat, a day after saying the U.S. could soon step up aid to rebels fighting Syrian President Bashar Assad's regime. Kerry is in London for a G8 foreign ministers' meeting today and Thursday. (AP Photo/Paul J. Richards, pool)

British Foreign Secretary William Hague, right, greets US Secretary of State John Kerry ahead of a meeting in the Foreign and Commonwealth Office in central London, Wednesday April 10, 2013. Kerry is meeting in London with Syrian opposition leaders and Russia's top diplomat, a day after saying the U.S. could soon step up aid to rebels fighting Syrian President Bashar Assad's regime. Kerry is in London for a G8 foreign ministers' meeting today and Thursday. (AP Photo/Paul J. Richards, pool)

(AP) ? The Obama administration's next step in aid to Syrian rebels is expected to be a broader package of nonlethal assistance, including body armor and night-vision goggles, as the U.S. grapples for ways to stem the bloodshed from Syria's civil war.

Administration officials say an announcement of the new aid is not imminent. But Secretary of State John Kerry says the administration had been holding intense talks on how to boost assistance to the rebels fighting forces loyal to Syrian President Bashar Assad.

"Those efforts have been very much front and center in our discussions in the last week in Washington," Kerry said Tuesday, a day before meeting with Syrian opposition leaders in London. "I'm not sure what the schedule is, but I do believe that it's important for us to try to continue to put the pressure on President Assad and to try to change his calculation."

The United Nations estimates more than 70,000 people have been killed during more than two years of fighting between rebels and government forces.

Britain and France have already been shipping armor, night-vision goggles and other military-style equipment to the rebels.

Earlier this year, the U.S. announced a $60 million nonlethal assistance package for Syria that includes meals and medical supplies for the armed opposition. The aid package marked the first direct American assistance to the opposition forces trying to overthrow Assad.

But thus far, the U.S. has resisted providing lethal weapons to the rebels, in part out of fear that the arms could fall into the hands of jihadi groups that are designated as terrorist fronts linked to al-Qaida. However, the U.S. has said it would not stand in the way of other nations that decide to arm the rebels.

Senior officials from the White House, State Department and Pentagon held a high-level meeting Friday that focused on Syria.

In London, Kerry attended a British-hosted lunch alongside several leading members of the Syrian opposition. They included the interim prime minister, Hassan Hitto; Vice Presidents Suheir Atassi and George Sabra; Secretary-General Najib Ghadbian and the opposition's envoys to the United States and Britain.

Kerry then was to meet one-on-one with Russian Foreign Minister Sergey Lavrov for talks on the Syrian civil war and several U.S.-Russian disputes that have strained the relationship. Discussions on Syria are expected to continue into Wednesday night when the top diplomats from all the Group of Eight industrialized nations get together.

__

Associated Press writer Bradley Klapper in London contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-04-10-US-Syria/id-29d2dc72a42c4028a853a3ffdf2e2c2b

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Factories that ran on Korean cooperation go silent

A South Korean vehicle carrying boxes, returning from the North Korean city of Kaesong arrives at the customs, immigration and quarantine office near the border village of Panmunjom, which has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at the Kaesong industrial complex, a jointly run factory with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

A South Korean vehicle carrying boxes, returning from the North Korean city of Kaesong arrives at the customs, immigration and quarantine office near the border village of Panmunjom, which has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at the Kaesong industrial complex, a jointly run factory with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

A South Korean army soldier moves a part of barricade for the media to enter at Unification Bridge near the border village of Panmunjom, that has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at a jointly run factory complex with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

A South Korean soldier stands guard at barricaded Unification Bridge near the border village of Panmunjom, that has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at a jointly run factory complex with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

A South Korean military ambulance passes at barricaded Unification Bridge near the border village of Panmunjom, that has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at a jointly run factory complex with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

A South Korean soldier checks the id cards of members of media as their vehicles wait to enter at barricaded Unification Bridge near the border village of Panmunjom, that has separated the two Koreas since the Korean War, in Paju, north of Seoul, South Korea, Tuesday, April 9, 2013. North Korean workers didn't show up for work at a jointly run factory complex with South Korea on Tuesday, a day after Pyongyang suspended operations at the last remaining major economic link between rivals locked in an increasingly hostile relationship. (AP Photo/Lee Jin-man)

(AP) ? A few hundred South Korean managers, some wandering among quiet assembly lines, were all that remained Tuesday at the massive industrial park run by the rival Koreas after North Korea pulled its more than 50,000 workers from the complex. Other managers stuffed their cars full of finished goods before heading south across the Demilitarized Zone that divides the nations.

Amid a stream of increasingly threatening words and actions, North Korea announced on Monday that it was suspending operations and recalling all of its workers from the Kaesong industrial complex, a factory park just inside North Korea's heavily armed border that pairs cheap local labor with South Korean know-how and pumped out about half a billion dollars' worth of goods last year.

It was the first time that production has been suspended at the complex, which for nearly a decade has been a tenuous but persistent symbol of cooperation in a relationship that now seems at rock bottom.

On Tuesday, the roads leading to Kaesong, the North's third biggest city, were empty of the normal line of cargo trucks and vehicles carrying supplies and people. Inside the complex, a couple of North Korean soldiers, clad in olive green uniforms and riding Chinese motorcycles, patrolled streets that on a normal weekday would have been choked with buses and workers.

A South Korean manager, one of about 400 who remained at Kaesong, said he had been sitting in an unheated office most of the day with four colleagues. Normally, they would be busy checking orders and examining the clothes they produce. But with no work and no television or radio, the manager said they did nothing but "think about the South."

"I feel hungry and cold here," he said as a soft drizzle fell on Kaesong.

Gas and oil is typically sent from the South to keep the heat flowing and the factories churning, but North Korea has closed the border to all workers and goods bound for Kaesong.

"We can't work in Kaesong anymore," he said, declining to be identified because of company rules. "I don't have any good memories left."

The five will share two cars and drive across the border Wednesday.

The pull-out is part of a torrent of provocations and threats North Korea has unleashed at Seoul and Washington in recent weeks. The North is angry at U.N. sanctions punishing it for its third nuclear test on Feb. 12, as well as joint military exercises between the U.S. and South Korea that the allies call routine but that Pyongyang sees as preparation for an invasion.

In what's seen as the latest attempt to stoke fear, North Korea on Tuesday urged all foreign companies and tourists in South Korea to evacuate because it says the rival Koreas are on the verge of nuclear war. Analysts see a direct attack on Seoul as extremely unlikely, and U.S. and South Korean defense officials have said they've seen nothing to indicate that Pyongyang is preparing for a major military action.

Pyongyang announced Monday that it was recalling all North Korean workers from Kaesong and would decide later whether to shut it down for good. Shutting it permanently would sacrifice jobs in a poverty-stricken nation that according to the U.S. State Department has a per capita GDP of just $1,800 per year.

Even the suspension is costing North Korea money, and not just in the short term. The pull-out has left South Korean companies unable to fill orders, raised fears of bankruptcies and is likely to make others think twice about investing in North Korea.

"I deeply regret having entered Kaesong," Yoo Byung-ki, president of BK Electronics Co., said from Seoul. He said both North and South Korea hurt companies in the jointly run complex whenever the countries' relationship went sour.

"All orders got canceled. My clients must be worried. Even if they give us new orders, they will not give us all the orders they used to give," said Yoo, whose company supplies electronic components to consumer electronics companies.

South Korean President Park Geun-hye expressed disappointment at the suspension of operations at Kaesong, and echoed the warning that it would only scare foreign investors away from North Korea.

"North Korea should stop doing wrong behavior and make a right choice for the future of the Korean nation," Park said at the start of a regular Cabinet Council meeting, according to a South Korean media pool report posted on her office's website.

For South Korea, Kaesong's significance goes beyond money. It is the last symbol of inter-Korean cooperation. Other projects from previous eras of cooperation such as reunions of families separated by war and tours to a scenic North Korean mountain stopped in recent years.

When it started almost a decade ago, the zone was hailed as paving a way for the reunification of the two Koreas. South Korea viewed Kaesong as a deterrent to war, a buffer zone when tensions ran high and a channel where North Koreans could get a glimpse into South Korean culture through their interactions with South Koreans, albeit limited.

But even before Monday's announcement, Pyongyang had been allowing operations at the Kaesong complex to wither. Last month it cut the communications with South Korea that had helped regulate border crossings at Kaesong, and last week it barred South Korean workers and cargo from entering North Korea.

Operations had continued and South Koreans already at Kaesong were allowed to stay, but dwindling personnel and supplies had forced about a dozen companies to stop operating at Kaesong before North Koreans were told to stop working there.

North Korea briefly restricted the heavily fortified border crossing at Kaesong in 2009, but factories continued operations.

South Korea's Unification Ministry, which is responsible for relations with the North, said 75 South Koreans at the complex were set to come home Tuesday, leaving about 400. The North has not said that they have to leave.

The more than 120 South Korean companies operating at Kaesong urged North Korea to quickly normalize operations.

"If this situation continues, companies will face the risk of going bankrupt," said Yoo Chang-geun, a vice president of the Corporate Association of Gaesong Industrial Complex.

After an emergency meeting Tuesday in Seoul, representatives of the companies said in a joint statement that they hope to send a delegation of small- and medium-sized companies to North Korea in hopes of reopening the complex. The statement also appealed to South Korea to take a "mature, embracing posture" and work out all available measures to help normalize Kaesong's operations.

A South Korean manager at Daemyung Blue Jeans Inc. at Kaesong said he plans to stay at the complex to protect company assets. Speaking on condition of anonymity because he wasn't authorized to speak to the media, he said there was hope among workers from both sides that current tension would only be temporary.

"Some of the North Koreans left the factory this morning with a smiling face and told me that 'We can meet each other again,'" he said.

___

Lee reported from Seoul, South Korea. AP writers Hyung-jin Kim in Seoul and Eric Talmadge in Tokyo contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-04-09-Koreas-Tension-Kaesong/id-058b9ea4dcfd4bad9ea2e3d626c05755

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