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Thursday, August 2, 2012
How to Survive a Robot Apocalypse [Humor]
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ECB gearing up to buy euro zone bonds
FRANKFURT (Reuters) - With its key German member dissenting, the European Central Bank took a heavily conditioned step on Thursday towards a new round of bond buying to drag down Spanish and Italian borrowing costs, but said euro zone governments must act first.
ECB President Mario Draghi indicated any intervention would come at the earliest in September once governments had activated their rescue funds to buy bonds, and the countries at risk had requested assistance and accepted tough conditions.
The absence of immediate action, the conditional nature of Thursday's decision and the reservations of Jens Weidmann, head of Germany's influential Bundesbank, the ECB's biggest shareholder, spooked investors.
Shares and the euro fell and Spanish and Italian yields rose, with Spain's 10-year bond surpassing the 7 percent danger level.
"The Governing Council, within its mandate to maintain price stability over the medium term and in observance of its independence in determining monetary policy, may undertake outright open market operations of a size adequate to reach its objective," Draghi told a news conference after the central bank's monthly meeting.
The ECB would also consider other "non-standard" measures to rein in the euro zone crisis, he said, hinting it might move to quantitative easing - or printing money - by not withdrawing all the money it creates to buy bonds.
Unlike the U.S. Federal Reserve and the Bank of England, which have engaged in QE since 2008 by creating money to buy securities, the ECB has so far "sterilized" all its purchases by taking in an equivalent amount in interest-bearing deposits.
The ECB kept euro zone interest rates at a record low 0.75 percent, but Draghi said the council did consider a further rate cut on Thursday amid heightened economic uncertainty.
The bank has already spent 210 billion euros buying bonds under its now dormant Securities Markets Programme (SMP) since May 2010, with limited effect, but Draghi said the new effort would be different in scope and conditionality.
Any new ECB action would be focused on shorter-term debt and was conditional on euro zone governments using their bailout funds first, and on beneficiaries accepting "conditionality".
"Governments must stand ready to activate the ESM/EFSF in the bond market when exceptional financial market circumstances and risks to financial stability exist," he said.
Italian Prime Minister Mario Monti said after meeting his Spanish counterpart Mariano Rajoy in Madrid that Draghi's statement showed "several steps forward", but any consideration of Italy applying for EU help to lower yields was premature. He said Rome had no such intention at this moment.
Rajoy called the ECB decisions positive but gave no indication of whether Spain was willing to request an assistance programme, which he has so far resisted.
INTENSE PRESSURE
Draghi was under intense pressure from investors, European leaders and even the United States to deliver on last week's pledge to do whatever it takes to preserve the euro by bringing high borrowing costs down.
The Washington-based International Monetary Fund said it welcomed the ECB's willingness to act.
"As we have also emphasized, monetary policy alone cannot solve the problems facing the euro area. But further monetary easing and unconventional support would ease tensions as other policies are implemented and take effect," an IMF official said.
The ECB chief repeated that the euro was "irrevocable" and warned markets it was pointless to bet against or short the 17-nation single European currency. He also said the central bank was determined to counter any risk of "convertibility" - code for a possible break-up of the euro.
But analysts were underwhelmed by his announcement of possible future, conditional action.
"It is quite disappointing ... There is a lack of any action so he has basically passed the buck back on to politicians," said Ioan Smith, strategist at Knight Capital.
Marc Ostwald, strategist at Monument Securities, said: "Unsurprisingly Draghi has attempted to deploy semantics to cover up for another case of 'all talk and no trousers or action", above all in promising 'action' going forward.
"The perversion of language that is implicit in 'voting was unanimous with one reservation' should be obvious, akin to an Olympic athlete saying I won gold except that one person beat me!"
The outcome of Thursday's ECB meeting mirrored Wednesday's U.S. Federal Reserve policy-setting meeting, which also dashed expectations of immediate new measures to revive the economy.
The Fed stopped short of offering new monetary stimulus, though it signaled more strongly that further bond buying could be in store to help a U.S. economic recovery that it said had lost momentum this year.
ECB action is hamstrung by European treaty rules forbidding it from financing governments. Draghi said an ECB legal opinion had ruled out another possible "big bazooka" - giving the ESM bailout fund the right to tap ECB funds to boost its firepower.
The ECB also has to find a way to get any measures past Germany, the euro zone's largest economy and its principal paymaster. The Bundesbank issues regular reminders of inflationary dangers stemming from non-standard measures such as bond purchases and the limits central banks face.
Draghi said all members of the Governing Council endorsed Thursday's statement with one exception and he took the unusual step of mentioning Weidmann by name as the dissenter, suggesting he was prepared to outvote the German if necessary.
"It's clear and it's known that (Germany's) Bundesbank have their reservations about the programme of buying bonds. The idea is we now have the guidance, the monetary policy committee, the risk committee and the markets committee will work on this guidance and then (we) will take a final decision and the votes will be counted."
Council members who have voted with Weidmann in the past, such as the Dutch and Luxembourg central bank chief and the German member of the ECB's executive board, did not side with him this time, suggesting the Bundesbank chief was isolated.
But his acquiescence in ECB policy is widely seen as vital to preserve public support for the euro zone in Germany.
Significantly, the German government endorsed Draghi's statement
(Reporting by Sakari Suoninen; Editing by Paul Taylor/Jeremy Gaunt)
Source: http://news.yahoo.com/ecb-holds-rates-assess-inflation-growth-risks-115036523--business.html
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Russian Supply Ship Launches on 1st Same-Day Trip to Space Station
A robotic Russian cargo ship launched toward the International Space Station today (Aug. 1) to deliver a fresh load of supplies and test a new same-day docking plan that, if successful, will make it the first spacecraft ever to arrive at the orbiting lab within hours of liftoff.
The unmanned Progress 48 cargo ship blasted off atop a Soyuz rocket at 3:35 p.m. EDT (1935 GMT) from the Baikonur Cosmodrome in central Asia. It was early Thursday morning local time at the site of the Russian spaceport. Since the spacecraft is attempting a novel same-day rendezvous and docking maneuver, it should arrive at the space station roughly six hours after liftoff, NASA officials said.
If everything goes according to plan, Progress 48 will arrive at the space station tonight at 9:24 p.m. EDT (0124 GMT Aug. 2). The robotic spacecraft will automatically park at the Pirs docking compartment on the Russian segment of the outpost.
Russia is aiming to eventually implement this same-day docking plan for future manned flights of Soyuz space capsules to the International Space Station.?
"They're looking to eventually take this into the Soyuz phase," Dan Harman, NASA's space station manager of operations and integration, said in a news briefing last week. "If you can get the crew to orbit in six hours and onboard the International Space Station, that could be a tremendous benefit over the two-plus days it takes today." [Photos: Russia's 1st Same-Day Cargo Ship Flight to Space Station]
Shortening the orbital chase
Progress and Soyuz vehicles typically spend two days chasing the space station in orbit after launch. A quicker arrival to the orbiting complex could cut down the overall amount of consumables ? such as food, water and fuel ? needed for the onboard crew.
Docking to the station within hours of launch also minimizes the amount of time the astronauts spend inside the small Soyuz capsule, which could improve the comfort of the spaceflyers, said space station flight director Chris Edelen.
"The quicker rendezvous that you have, the less consumables you would need for the first day, and the better crew comfort in a small capsule," he said.
If Progress 48 is unable to carry out the same-day rendezvous and docking, Russian flight engineers have the option of reverting back to the normal two-day procedure, NASA officials said. In that case, Progress 48 would arrive at the space station Friday (Aug. 3).
The idea of arriving at a destination on the same day as launch is not a new one. NASA first tested the same-day rendezvous procedures between spacecraft in the mid-1960s during the agency's Gemini program.
"This is actually old technology," Edelen explained. "Our first ground-up rendezvous on the Gemini program was a Flight Day 1 rendezvous, and the Russians have done this before, so it's sort of a back to the future."
Conducting same-day procedures, however, requires extremely precise calculations and also limits the flexibility of available launch times.
"It does impose more constraints on the geometry ? the orbital mechanics ? of the launch, because you have less time to catch up to the space station," Edelen said. "You've got to basically launch and be in the right spot, and the space station has to be in the right spot."
The Progress 48 cargo freighter is hauling 2 tons of food, clothing and supplies for the crew of the International Space Station. There are currently six spaceflyers who are living and working aboard the massive orbiting laboratory: Russian cosmonauts Gennady Padalka, Yuri Malenchenko and Sergei Revin, NASA astronauts Joe Acaba and Sunita Williams, and Japanese astronaut Akihiko Hoshide.
A new visiting spacecraft
The Progress 48 spacecraft will haul 2 tons of food, clothing and supplies for the station's six-person Expedition 32 crew. Station commander Gennady Padalka, of the Russian Federal Space Agency, will oversee Progress 48's launch and docking.
These spaceflyers, who make up the space station's Expedition 32 crew, will monitor the Progress vehicle's rendezvous and docking. The disposable cargo ship is expected to remain attached to the station for several months, before it is filled with trash and intentionally sent to burn up during re-entry into the Earth's atmosphere.
NASA Television will broadcast live coverage of the Progress 48's arrival at the International Space Station tonight beginning at 8:45 p.m. EDT (0045 GMT Aug. 2). You can watch NASA's live webcast of the Progress 48 launch and docking here:?http://www.nasa.gov/ntv
Follow Denise Chow on Twitter @denisechow?or SPACE.com @Spacedotcom. We're also on Facebook?&?Google+.
Copyright 2012 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Source: http://news.yahoo.com/russian-supply-ship-launches-1st-same-day-trip-200041823.html
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United 787 Dreamliner emerges from Boeing factory, complete with golden head-to-tail 'swoop'
The first US-based 787 carrier is inching closer to its Dreamliner service launch. United Airlines celebrated the plane's rollout today at Boeing's Everett, Washington factory. The aircraft, which is set to begin international service later this year, received a custom livery, which includes a curved "swoop" -- which oddly enough appears to be the focus of design chatter. That may just be because the public has yet to take a peek inside, though we did have an opportunity to hitch a ride on ANA's variant last year, which has been flying throughout Japan since late 2011. Despite All Nippon's head start, United's flavor has garnered much attention domestically, marking a massive milestone in the Dreamliner's delayed launch. Hit up our source link below for a few more (exterior) views, courtesy of United.
Filed under: Transportation
United 787 Dreamliner emerges from Boeing factory, complete with golden head-to-tail 'swoop' originally appeared on Engadget on Tue, 31 Jul 2012 23:44:00 EDT. Please see our terms for use of feeds.
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?LIONBRIDGE TECHNOLOGIES? : Technical Writers : Chennai : On ...
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Company : Lionbridge Technologies Inc.
Website :? www.lionbridge.com
Education :? Commerce graduate (with financial background) /BA English literature, BE.
Experience : 0 ? 1 Years
Location : Chennai
Lionbridge Technologies (NASDAQ: LIOX)
Established in 1996 and headquartered in Waltham, Mass., with a 4,600 workforce spread across 50+ locations across 26 countries worldwide with a revenue of $400 million (est.).
Lionbridge (Nasdaq: LIOX) provides globalization and offshoring services that enable clients to develop, release, manage and maintain their enterprise content and technology applications globally.
Through its globalization service offerings, Lionbridge adapts client products and content to meet the linguistic, technical and cultural requirements of customers, partners, and employees worldwide.
Lionbridge offshoring services include the development and maintenance of content and applications as well as testing to ensure the quality, interoperability, usability and performance of clients? software, hardware, consumer technology products, web sites and content. Lionbridge offers its testing services under the VeriTest brand.
Lionbridge has a dedicated team of 4,000 employees worldwide, including 1,500 skilled professionals in India and China. Lionbridge program managers, engineers, content developers, quality assurance professionals and linguistic experts work with a global community of over 5,000 independent translators collaborating across a technology-based, global delivery platform.
Service Offerings:
Development and Maintenance
Localization/Translation
Outsourced Testing
Infrastructure Services
Business Process Services
Technical Publications
eLearning
Interpretation
Client value and relationships:
Clients rely on Lionbridge for higher quality, faster, and more efficient development and management of global products and content. Lionbridge enjoys long term client relationships. More than 80% of the company?s revenue comes from clients that have worked with Lionbridge for 8 consecutive quarters or longer.
Representative clients:
Beverly Healthcare, Computer Associates, EMC, Google, HP, IBM, Merck, Microsoft, Motorola, Nestl?Nokia, Novell, Oracle, Pearson, Sony, Thomson NETg, Unicare.
Looking for Technical Writer ? Fresher ? Chennai Position
Industry: IT Software, Software Services
Functional Area: Journalism, Editing, Content
Role: IT/ Technical Content Developer
?Job Description :
* Good writing and communication skills:
o Has a good flair for English and good communication skills.
o Can speak fluently and confidently.
o Develops, writes, and edits outlines, drafts, and final deliverables for review.
o Follows style sheet guidelines and customer and industry style guides.
* Analytical skills:
o Researches information about the product by interviewing senior writers and using the product, including using the web to get background information.
o Becomes the ?information expert? on the product over time, reducing time required of a senior resource.
o Assists in improving the documentation and making recommendations.
* Education:
o Preferably commerce graduate (with financial background) and BA English literature, BE?
o College degree in related area (writing,) or equivalent work experience.
Suitable candidates can drop to lionbridge office.
Walk-in interview from 1st August to 3rd August, between 11 AM? ? 4 PM.
Office Address:
Lionbridge Technologies, Inc
International Tech Park (Ascendas),
?Crest? 7th Floor, Unit Nos 1 & 2,
Taramani Road, Chennai 600 113, India.
Contact : HR Team
Contact Number: 044 -? 66785000
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