ECB to end bond-buying when markets stabilize: Trichet (Reuters)

PARIS (Reuters) ? The European Central Bank signaled on Saturday it would not abruptly end its bond-buying program now that the euro zone bailout fund EFSF has powers of secondary market intervention and would wait until financial markets stabilize.

The European Financial Stability Facility now has the power to buy bonds of distressed euro zone sovereigns to underpin their prices -- a job the ECB has so far been doing to prevent Italy and Spain from running into financing difficulties.

ECB President Jean-Claude Trichet told a news conference at a G20 finance chiefs' summit that the bank's bond buying was designed to tackle disruption of markets and was implemented to improve the transmission of ECB monetary policy.

"It is because we have the absence of financial stability in the euro area that we have to intervene to help restore a better transmission of monetary policy," Trichet said.

"The working assumption is that when we have -- thanks to the new flexible EFSF -- financial stability, we do not have to help restore better transmission of monetary policy," he said.

The ECB had to buy Spanish and Italian bonds over the last two months to keep financing costs for the two countries at sustainable levels and prevent Madrid and Rome from being shut out off from markets like Greece, Ireland and Portugal, in what euro zone policymakers call containing contagion.

EU Economic and Monetary Affairs Commissioner Olli Rehn, said the new powers for the EFSF, which also include extending precautionary credit to governments and lending for bank recapitalization, as well as the fund's planned higher firepower through leveraging and an earlier introduction of a permanent bailout fund, should help stop contagion.

Trichet said that was the ECB's assumption too.

"The working assumption is that when the EFSF is up and running and able to intervene in the secondary market, we take it that it will ensure better financial stability and that it will permit us not to help restore an appropriate transmission of monetary policy -- that is the working assumption," he said.

(Reporting By Jan Strupczewski, editing by Mike Peacock)

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/nm/20111015/bs_nm/us_ecb_bondbuying

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Rapper Rick Ross doesn't appear at Memphis show (AP)

MIAMI ? Hours after suffering a medical episode that forced a Delta Air Lines plane to return to Florida so he could be taken to the hospital, rapper Rick Ross tweeted that he still planned to perform as scheduled in Memphis, Tenn., on Friday evening.

"Memphis here I come," he tweeted on his official website, which also featured a video message from him aboard a second Memphis-bound plane.

But Ross didn't appear as scheduled early Friday evening at a University of Memphis event called "Memphis Madness."

WMC-TV in Memphis reported Friday night that Ross was hospitalized in Birmingham, Ala., after a second medical incident.

Birmingham airport spokeswoman Toni Bast confirmed that a private plane traveling from Fort Lauderdale to Memphis made an unscheduled landing in Birmingham at around 5:30 p.m. because of a medical emergency, but she could not provide any further details.

Ross, 34, was scheduled to perform Friday night at the University of Memphis basketball team's midnight opening practice event. Calls to his publicist were not returned Friday.

At about 1 p.m. Friday, Ross was on a Delta Air Lines flight from Fort Lauderdale to Memphis when he suffered an unspecified medical problem. The flight, carrying 121 passengers, returned to Fort Lauderdale.

Mike Jachles, a spokesman for Broward Sheriff Fire Rescue, said the flight landed at Fort Lauderdale-Hollywood International Airport and was met by paramedics. They performed what Jachles called "advanced life-support care," though it did not include CPR.

Jachles could not specify what exact care Ross was given, but he said the performer was stable, breathing, conscious and alert.

Ross was in a seat when paramedics reached him and he walked off the plane, Jachles said. He was taken to a terminal area where he was evaluated before being transported to a hospital to be checked out.

Jachles said there was a doctor on the plane who had tried to assist Ross, though he could not say what, if anything, the doctor did.

"Nobody told us, either when we were advised, dispatched or on the scene, no mention was made of CPR being initiated or in progress," Jachles said.

Soon after going to the hospital, Ross contacted Memphis to tell them he was still coming.

"He called a member of our staff and said not to believe what's out there and that he's on his way to perform at Memphis Madness," Lamar Chance, a university athletics department spokesman, said Friday afternoon.

Memphis officials declined to comment Friday night.

The Miami-based gangsta rapper gained fame with his husky voice and lyrics that spotlighted the grimier side of Miami life. He has become one of rap's most popular figures in recent years.

Ross, whose real name is William Leonard Roberts II, has a new album titled "God Forgives, I Don't," due out in December.

The hefty rapper's hits include "Aston Martin Music," "B.M.F. (Blowing Money Fast)" and "Hustlin'."

___

Associated Press writers Kate Brumback in Atlanta, Kristin Hall in Nashville, Adrian Sainz in Memphis and AP Music Writer Nekesa Mumbi Moody contributed to this story.

___

Follow Curt Anderson on Twitter: http://twitter.com/Miamicurt

Source: http://us.rd.yahoo.com/dailynews/rss/music/*http%3A//news.yahoo.com/s/ap/20111015/ap_en_mu/us_music_rick_ross_emergency

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NY protesters clean park, some may resist removal (AP)

NEW YORK ? Wall Street protesters scrubbed, mopped and picked up garbage at the corporate-owned park they have been occupying in an attempt to stave off a scheduled cleanup Friday that demonstrators suspect is a pretext to evict them.

After moving out mattresses and camping supplies, organizers were mixed on how they would respond when police arrive at the request of Zuccotti Park owners to help remove the occupiers from the public plaza so it can be cleaned.

Some protesters said they would resist; others planned to cooperate but engage in nonviolent civil disobedience if they were not allowed back in the park.

Publicly-traded real estate firm Brookfield Office Properties planned to begin a section-by-section power-washing at 7 a.m. EDT. The company called the conditions at the park unsanitary and unsafe.

Han Shan, 39, of New York, a spokesman for Occupy Wall Street, said it was clear to everyone that the plan is to shut down the protest.

"There is a strong commitment to nonviolence, but I know people are going to vigorously resist eviction," he said. "I think we're going to see a huge number of supporters throughout New York and the surrounding area defend this thing ... I'm hoping that cooler heads will prevail, but I'm not holding my breath."

In early Friday darkness, protesters were still busy cleaning while a light rain fell. The group's sanitation team had hired a private garbage truck to pick up discarded curbside garbage.

A few people hunkered down under tarps but few slept. Police kept a low profile ? a couple of officers walked through the encampment while other police sat in vans.

Protesters would be allowed to return after the Brookfield cleanup, which was expected to take 12 hours, but the company said it plans to start enforcing regulations that have been ignored.

No more tarps, no more sleeping bags, no more storing personal property on the ground. In other words, no more camping out for the Occupy Wall Street protesters, who have been living at the lower Manhattan park for weeks. The park is privately owned but is required to be open to the public 24 hours per day.

The demand that protesters clear out sets up a turning point in a movement that began Sept. 17 with a small group of activists and has swelled to include several thousand people at times, from many walks of life. Occupy Wall Street has inspired similar demonstrations across the country and become an issue in the Republican presidential primary race.

The protesters' demands are wide-ranging, but they are united in blaming Wall Street and corporate interests for the economic pain they say all but the wealthiest Americans have endured since the financial meltdown.

A spokesman for Mayor Michael Bloomberg, whose girlfriend is a member of Brookfield's board of directors, said Brookfield has requested the city's assistance in maintaining the park.

"We will continue to defend and guarantee their free speech rights, but those rights do not include the ability to infringe on the rights of others," Bloomberg spokesman Marc La Vorgna said, "which is why the rules governing the park will be enforced."

Thursday, protesters said that the only way they would leave is by force. Organizers sent out a mass email asking supporters to "defend the occupation from eviction."

Nicole Carty, a 23-year-old from Atlanta, hoped the group's cleaning effort would stave off any confrontation.

"We tell them, `Hey the park is clean, there's no need for you to be here,'" she said. "If they insist on coming in, we will continue to occupy the space."

Protesters have had some run-ins with police, but mass arrests on the Brooklyn Bridge and an incident in which some protesters were pepper-sprayed seemed to energize their movement.

The New York Police Department said it will make arrests if Brookfield requests it and laws are broken. Brookfield would not comment on how it will ensure that protesters do not try to set up camp again, only saying that the cleaning was necessary.

Bill de Blasio, the city's public advocate, expressed concern over the city's actions as he inspected the park Thursday afternoon and listened to protesters' complaints.

"This has been a very peaceful movement by the people," he said. "I'm concerned about this new set of policies. At the very least, the city should slow down."

Attorneys from the New York City chapter of the National Lawyers Guild ? who are representing an Occupy Wall Street sanitation working group ? have written a letter to Brookfield saying the company's request to get police to help implement its cleanup plan threatens "fundamental constitutional rights."

"There is no basis in the law for your request for police intervention, nor have you cited any," the attorneys wrote in a letter Thursday to Brookfield CEO Richard B. Clark.

The protest has led sympathetic groups in other cities to stage their own local rallies and demonstrations: Occupy Boston, Occupy Cincinnati, Occupy Houston, Occupy Los Angeles, Occupy Philadelphia, Occupy Providence, Occupy Salt Lake and Occupy Seattle, among them.

Occupy Seattle protesters running a live video feed from their corporate power protest at Seattle's Westlake Park said police started making arrests Thursday. Police confirmed that 10 people were arrested. City law bans camping in parks.

Several protests are planned this weekend across the U.S. and Canada, and European activists are also organizing.

___

Associated Press writers Deepti Hajela, Colleen Long and Cristian Salazar contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111014/ap_on_re_us/us_wall_street_protest

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A mind for optimism

Reality checks affect judgment more when prospects are rosier, study indicates

Web edition : Thursday, October 13th, 2011

Brains are unabashedly optimistic, lapping up good news and virtually ignoring the bad, scientists report online October 9 in Nature Neuroscience. The findings could help explain why people overestimate their life span, underestimate their chances of getting a divorce, and scoff at the thought of bankruptcy.

The rosy results touch on a deep, systematic feature of human cognition that helps guide everyday behavior, says computational neuroscientist Read Montague of Virginia Tech in Blacksburg, who was not involved in the research. ?This is an excellent paper,? he says.

In the study, Tali Sharot of University College London and colleagues examined what happens when reality doesn?t align with expectations. The team documented people?s predictions for 80 unpleasant events, including getting a cancer diagnosis, losing data through a computer crash, missing a flight or having a limb amputated.

While in a functional MRI brain scanner, the 19 study participants estimated their personal chances of experiencing each of the events. After the responses were registered, the scientists revealed the actual average risk of each event, then asked the participants to guess their own risk again.

When the news was better than expected, participants readily adjusted their answers. For instance, one participant estimated the risk of getting cancer to be 40 percent, but the average risk was only 30 percent. The second time around, the participant learned from that and lowered the personal estimate to 31 percent.

But when the news about risk was unexpectedly grim, most participants stuck closer to their original answers, the team found. The difference wasn?t simply due to people forgetting the bad news: In additional tests, subjects remembered the bad news just as well as the good news. ?That was quite surprising,? Sharot says.

The brain appears to send a ?Hey, you got it wrong? message when people got either good or bad news. For bad news in particular, fMRI scans generally revealed changes in activity on the right side of the brain in a region called the inferior prefrontal gyrus. However, when people who were separately classified as the most optimistic of the group got worse-than-expected news, the inferior prefrontal gyrus didn?t register the mistake. Those results suggest that brains with sunny outlooks are particularly immune to undesirable information.

Unbridled optimism could get people into trouble. Ignoring reality and expecting the best might make someone less likely to, say, buy health insurance or to keep the front door locked. But a positive outlook brings big benefits, too. ?The fact that the brain is not showing this computation is because it?s adaptive at the end of the day. It?s actually better for us,? Sharot says, adding that some studies suggest optimists tend to live longer and be healthier.

To Montague, the most interesting question is why the brain would selectively update good news and ignore the bad. This asymmetry might have been helpful for some aspect of survival. For instance, a bias toward positive information might help an animal learn how to get food quickly, he says.


Found in: Body & Brain

Source: http://www.sciencenews.org/view/generic/id/335187/title/A_mind_for_optimism

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First suicide bombing in north Afghan province (Reuters)

KABUL (Reuters) ? Suicide bombers struck inside Afghanistan's fiercely anti-Taliban Panjshir valley on Saturday, the first time in a decade of war that the insurgents have managed to use their trademark tactic in the normally peaceful northern province.

Four bombers targeted the Provincial Reconstruction Team headquarters, which houses U.S. and Afghan troops and civilians, around dawn, Afghan and NATO officials said.

They were halted outside the base, but the deputy provincial Governor Abdul Rahman Kabiri said they had killed two civilians and wounded two guards when they detonated their explosives.

Panjshir Provincial Police Chief Qaseem Junglebagh disputed that toll and said the four men were all shot dead by security forces before they could set off the bombs.

A spokesman for NATO-led forces confirmed there had been a suicide attack, but said the compound was not breached and there were no foreign casualties.

The Taliban claimed responsibility for the attack, and said the bombers were from Panjshir province.

If true, it would be an alarming sign of growing Taliban support outside their traditional heartland, as the valley was one of the few places in Afghanistan never subdued by the group.

"This attack made a bad day for foreign invaders in the province for the first time," Taliban spokesman Zabihullah Mujahid said in a statement.

"There is no secure place for them in the country," he said.

The attack will raise fresh concerns about the readiness of Afghan police and soldiers to provide security after foreign combat troops head home, as it was one of the first parts of the country handed over to local forces.

Picturesque Panjshir, famous for its jagged cliffs and deep valleys, is now under Afghan security control, and strict checks take place on most vehicles and passengers entering the area.

The handover took place in July but foreign troops have remained in the province to carry out reconstruction work.

(Additional reporting by Martin Petty; Editing by Emma Graham-Harrison and Sanjeev Miglani)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20111015/wl_nm/us_afghanistan_attack

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BlackBerry outages irk India, threaten key RIM market (Reuters)

NEW DELHI/MUMBAI (Reuters) ? A four-day service outage has cast a shadow over BlackBerry's reputation in India, one of the smartphone maker's few growing markets, where the frustration of hundreds of thousands of users could mean a chance for its rivals to gain ground.

The repeated shutdowns of email and messaging services that left BlackBerry users with only voice calls and SMS text infuriated Indian customers, including a tennis star and a Bollywood icon, leaving BlackBerry maker Research In Motion scrambling to control the damage.

"In the capital market, every second matters. Time lost is money lost. Had it been for couple of hours, that was okay. But it stretched much beyond that," said Jagannadham Thunuguntla, strategist and head of research at SMC Global Securities in New Delhi.

RIM has fixed the root cause of the global disruption of BlackBerry services and is still working to clear a backlog of delayed messages, its co-CEOs said on Thursday, hoping to control the damage.

More than a million people use BlackBerry in India, the world's second-biggest mobile phone market. RIM has established a strong, but not dominant, foothold in the price-sensitive market thanks largely to its cheap models.

A large corporate user base that relies on its enterprise email system, the huge popularity of RIM's BlackBerry Messenger platform among young people and competitive pricing mean it outsells Apple Inc.'s iPhone by around five to one.

In the June quarter, BlackBerry accounted for 15 percent of smartphone sales in the country, researcher IDC said, trailing Nokia's share of nearly 46 percent and Samsung's 21 percent, but far ahead of Apple's 2.6 percent.

The lowest-priced BlackBerry 8520, RIM's best-selling model in India, is available at about 9,000 rupees ($184). The entry-level iPhone 3GS model is around 20,000 rupees.

But low-cost competitors, especially those based on Google's Android system, are poised to grab market share.

"Apple is still a premium user play, but if you look at others, especially the Android ones, you can have the same features that BlackBerry is offering pretty much at half the cost," said Abhishek Chauhan, Senior Consultant, ICT Practice, at Frost & Sullivan.

BLACKBERRY BOYS

BlackBerrys were initially seen as a tool for executives.

With rising incomes and a burgeoning middle class in India, RIM has expanded, targeting young professionals and students with its youthful "We're the BlackBerry boys" commercials, portraying the smartphone as a gadget for the aspiring masses.

RIM's shipment to India quadrupled to 770,652 in 2010, from 191,379 in 2009, according to CyberMedia Research, which estimates that RIM has sold 1.06 million smartphones in India over the past three years.

"Companies will not switch to Apple or Google phones overnight, especially given BlackBerry's secure corporate email system," said Romal Shetty, head of telecommunications analysis in India for KPMG.

"But from a youth perspective, there is certainly more of an impact from these kinds of failures. There is definitely a dent made in reputations."

BlackBerry's free instant messaging service, has been a big draw for India's urban youth, but rival products from Apple and Google now mean it is not unique.

"The BB service failure surprisingly did affect me, from being out of touch with my Gmail to not being able to 'ping' my friends. The handicap was overwhelming at times," said 22-year-old Snigdha Ahuja, who works for a television channel in Mumbai.

"BBM doesn't work.. I feel handicapped! Makes u realise how addicted u become of certain electronics," wrote Indian tennis star Sania Mirza on Twitter.

"Such a dependence on technology (in) our lives today .. no BBM and it seems like a major portion of your life has shut down ..!!," wrote Bollywood icon Amitabh Bachchan.

(Additional reporting by Annie Banerji in New Delhi and Sumeet Chatterjee in Mumbai; Editing by John Chalmers and Helen Massy-Beresford)

Source: http://us.rd.yahoo.com/dailynews/rss/india/*http%3A//news.yahoo.com/s/nm/20111013/india_nm/india598810

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Chavez proposes shooting down suspect drug planes (AP)

CARACAS, Venezuela ? President Hugo Chavez is proposing that Venezuela's legislators consider allowing the shooting down of suspected drug-trafficking planes that ignore orders to land.

Chavez said in a televized speech Thursday that such a threat would discourage cartels from flying drugs over Venezuela.

He says Venezuelan military aircraft sometimes chase planes suspected of transporting drugs, but pilots of the planes ignore orders to land and just keep going.

Venezuela lies next to Colombia and has become an important route for traffickers moving cocaine to Europe and the United States.

U.S. officials criticize Venezuela's anti-drug efforts as insufficient. Chavez says his government is doing all in its power.

Source: http://us.rd.yahoo.com/dailynews/rss/latam/*http%3A//news.yahoo.com/s/ap/20111014/ap_on_re_la_am_ca/lt_venezuela_drug_planes

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Internet Online Marketing Advertising Business Must Be Reputable ...

Many online marketers reach the point where they want more time freedom. This usually happens after several months when they are actually making some money. They want to be able to lessen their work load so they find a company to handle some of the day to day operations for them. This is where a good internet online marketing advertising business comes in.

A quality company will be able to handle as much or as little of your online marketing as you would like. There are many elements to successfully market your business online but the biggest component is to find an effective strategy for driving targeted traffic to your website.

There are dozens, maybe even hundreds of methods for driving traffic online. Things like search engine optimization, pay per click, banner advertising, classified ads, web 2.0 and article marketing to name just a few.

Since most online marketers will include multiple sources of traffic generation (not to mention that many online marketers have several websites) it can be alot to keep track of.

That is the reason that finding a reputable company to handle all of this for you can make a huge difference. Together, you and your account manager from the company can sit down and develop a marketing strategy that best suits your needs and your budget.



The company will want to meet with you to find out what actions they will be performing for you. You will also discuss all your budget restraints so they can create a package that is unique to you and your needs.

Once you?ve got a game plan in place the company will take a look at your website and see where you are. They will assess the strengths and weaknesses of your site and develop a strategy to take your internet marketing business to the next level.

Before you assume that you can?t afford this type of help in the early days of your business, you might want to talk to a few companies and see what they charge. There are many companies out there and some of them are fairly small and / or new to the market. These companies are willing to work very inexpensively in many cases just so they can build up their reputation.

If you?ve searched and you can?t find a company that you can afford at this point in your career, don?t give up. For now, just learn one or two methods to get traffic to your website and work at them until you are making some money.

When you start having a little money coming in you can revisit the idea of hiring a company to take all your marketing efforts to the next level. This strategy allows you to get started now and start building your business today instead of waiting until you can afford it. The sooner you start, the sooner you will be where you want to be.

Finding a quality internet online marketing advertising business to help you manage all aspects of your online business may be just the thing you need to move your business forward.

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Future Explains Difficulty Shooting 'Tony Montana' Video

Rapper films 'Scarface'-inspired video in the Dominican Republic: 'It took five hours in customs, getting searched 10 times.'
By Steven Roberts


Future
Photo: MTV News

Rappers love "Scarface." While "Goodfellas" and "A Bronx Tale" might be better movies, rappers just can't get enough of Tony Montana. The 1983 Oliver Stone film starring Al Pacino is a favorite because of the parallels MCs have drawn between their lives and Montana's. After all the movie posters in those old episodes of "Cribs" and the many mentions of "Scarface" and character Alejandro Sosa in rhymes, Atlanta's Future has a song simply called "Tony Montana."

The track, which finds Future rapping as Montana, has started to gain legs outside of his stronghold of Atlanta — thanks in large part to a feature from Drake — and, of course, the next step is a video. When MTV News caught up with Future on Monday afternoon, he revealed he spent the past weekend shooting the clip in the beautiful Dominican Republic with director Jessy Terrero. Yes, Montana was from Cuba, but Future learned it isn't easy shooting in foreign countries, let alone one with which the U.S. has longstanding political problems.

"It was hard [enough] getting over to the Dominican Republic and getting all the permits," Future said. "I wanted to go to Cuba, but I couldn't get over there because of the passports and going through customs. It took five hours in customs, getting searched 10 times, going to the Dominican Republic. Getting back, they damn near didn't want me to come back to America."

Future said it was a difficult process making the video, but it will be worth it once fans see his and Terrero's vision. Drake is expected to be featured in the clip, although his part wasn't filmed in the D.R. Unlike in the film, Future said the video finds him leaving the States.

"I get a call from overseas saying there's been some robberies going on, and they want me to come over there and handle it," he explained. "It's like a caper, and I'm just getting down to it, trying to find out who's in charge and who's pulling the robberies. It's a movie on wax."

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Source: http://www.mtv.com/news/articles/1672425/future-tony-montana-video-shoot.jhtml

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