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first_imgNEW YORK — The slumping dollar has become a financial life saver for American companies whose overseas operations in many cases are growing faster than their domestic units. It also helps explains why U.S. stocks have zoomed to records even as signs of an economic slowdown have multiplied. Companies like Caterpillar, McDonald’s and General Electric reported first-quarter earnings this week that surprised most Wall Street analysts precisely because of better-than-expected results from Europe, Latin America and Asia. The dollar fell on Friday to an all-time low against the euro, the currency used in Germany, France and 11 other European nations, and hasn’t plunged this far versus the pound since Margaret Thatcher’s second year as prime minister. That means profits earned in those nations become supercharged when they are converted to dollar equivalents for financial reporting purposes. “What these companies are earning outside the U.S. is worth a lot more, it is like getting a free ride on the currency movement,” said Octavio Marenzi, chief executive of business consulting group Celent LLC. “For the time being, lots of corporations are looking much better than they’d otherwise look.” Caterpillar Inc. had a tough time during the first-quarter winning orders for its big yellow bulldozers and other construction equipment on U.S. soil. Left tattered by the U.S. housing slump, the Peoria, Ill.-based company said its first-quarter profit slid 3 percent from the year-ago period. But that was a better result than Wall Street was expecting, in large part because of a sales surge outside the U.S. that pushed overall revenue to $10 billion, 7 percent higher than a year earlier. Chief Executive Jim Owens credited “exceptional growth outside North America,” which prompted the Illinois company to boost its 2007 profit and revenue projections. General Electric Co. Chief Executive Jeffrey Immelt said his strategy of selling power plant and aviation equipment outside the U.S. paid off. Profit rose 2 percent, but the real story was that revenue surged 6 percent to $40.2 billion. The biggest slice of GE’s sales came from overseas, where revenue rose 9 percent to $19.6 billion. Sales in developing markets surged 14 percent to $7 billion. One U.S. multinational where the dollar’s impact has had a potent effect is McDonald’s Corp. The Oak Brook, Ill.-based fast-food chain operates in more than 100 countries, and sells burgers in dozens of different currencies. With sales slowing in the U.S., McDonald’s relied more heavily on its European restaurants for growth. McDonald’s said sales at restaurants open at least 13 months, a key retail measure known as same-store sales, rose 6.3 percent for the quarter. Same-store sales were up 4.4 percent in the United States, 8 percent in Europe, and 8.5 percent in the company’s Asia-Pacific business. Meanwhile, gains from currency translation accounted for 4 percent of the company’s overall revenue, or about $224 million. Howard Silverblatt, senior index analyst at Standard & Poor’s, said global sales might be one reason members of the rating agency’s closely watched S&P 500 list are posting better-than-expected results. Because of a slew of profit warnings late last year, S&P forecast that first-quarter profit growth would come in around 3 percent — and these earnings surprises now has S&P 500 components at a 7 percent growth rate. “The amount of foreign sales for S&P 500 companies is running at about 48.5 percent,” said Howard Silverblatt. “What we won’t get in U.S. growth, we’ll get abroad,” he said. “That’s a significant item, and it’s improving and getting better. At some point this year over half the sales will be coming from abroad.” This is exactly the reason why most stock pickers have advised snapping up shares of companies that do a big business outside of the U.S. During periods of a slowing economy, these companies are able to neutralize sluggish U.S. sales with revenue from overseas. But, while this has benefited blue chips, it still leaves many companies that don’t have large international operations in the lurch. And the potential for the dollar to rebound anytime soon appears to be slim, some observers say. Economic expansion outside the United States is more robust, while interest rates abroad are generally rising. Higher interest rates offer investors more return on their cash holdings. In addition, investors have grown concerned about comments from central banks abroad, such as China, Russia, and South Korea, about plans to eventually diversify their holdings beyond the dollar — long the world’s sole reserve currency. This would punish the dollar’s stature globally. Bearish investors have low expectations for a dollar recovery, prompting them to look abroad for growth and safety. “What difference does it make if companies are making more because of currency gains when the dollar overall is losing value,” said Peter Schiff, president of Darien, Conn.-based Euro Pacific Capital. “It’s a delusion.” His advice: “If you really want to take advantage of the weaker dollar, invest in foreign companies that get 100 percent of their business outside of the United States.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! LONDON – Analysis of samples of the H5N1 bird flu virus from two of its victims in Turkey has detected a change in one gene in one of two samples tested, but it is too early to tell whether the mutation is important, the World Health Organization said Thursday. The mutation, which allows the virus to bind to a human cell more easily than to a bird cell, is a shift in the direction of the virus being able to infect people more easily than it does now. However, that does not mean the mutation has taken root. “We assume this could be one small step in the virus’ attempt to adapt to humans,” said WHO virologist Mike Perdue. “But it’s only seen in one isolate and it’s difficult to make sweeping conclusions.” Turkey has seen an unusually high number of cases in a short period of time. Experts are investigating why. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGift Box shows no rust in San Antonio Stakes win at Santa Anita Health authorities there raised the number of people infected with H5N1 from 15 to 18 on Thursday, after the virus turned up in preliminary tests on two people hospitalized in southeastern Turkey and in a lung of an 11-year-old girl who died last week in the same region. All the victims are thought to have close contact with infected poultry. Samples from several of those cases are being sent to a laboratory in Britain for analysis. Perdue said the U.N. health agency is not alarmed by the finding in a single virus sample because this exact genetic change has been seen before, in samples from southern China in 2003, and it had no impact on the course of the disease, the behavior of the virus or the pattern of human infections. last_img read more

first_imgDeputy Charlie McConalogue has said it is unacceptable for Minister for Social Protection Joan Burton to refuse to permit use of free travel passes on the Buncrana to Derry Bus Route, previously operated by Lough Swilly.The Lough Swilly bus is no more.The Donegal TD was reacting to news that McGonagle coaches of Buncrana were told by the Department of Social Protection that they would be given no subsidy in order to accept travel passes.Deputy McConalogue commented, “It is a ridiculous decision by the Department not to offer a subsidy to the new Buncrana-Derry route. We now have a number of qualifying pensioners with virtually worthless travel passes because of the Government’s refusal to pay the companies who have taken over the routes from Lough Swilly. “Pensioners depend on these local routes and the Buncrana to Derry route is of particular importance locally. With many of our pensioners having worked in Britain for a number of years and returning home in later life, the majority of their pensions are paid into banks in Derry.“The fact that the subsidy has not been offered to McGonagle’s has increased fears about the proposed review of the free travel pass. The review has created increased anxiety among older people in Donegal, who depend on it to go about their daily lives. It is an essential support which helps them live independently and any attempts to change or tamper with the travel pass will not be tolerated”.“The Minister must recognise what the loss of the free travel passes means to elderly passengers in Inishowen and an allowance has to be made”.GOVT MUST ALLOW FREE TRAVEL ON BUNCRANA-DERRY BUS ROUTE – McCONALOGUE was last modified: July 3rd, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:deputy charlie mcconaloguedonegalLough swilly buslast_img read more

first_imgTyson has been missing since Saturday, his owners think he has been stolen.MISSING: A Donegal family have been left devastated at the disappearance of their beloved Husky pup Tyson.Tyson has been missing from their home since Saturday and the family believe he may have been stolen.The family have heard reports locally that a suspicious looking grey transit van was seen driving around the area and that some dogs and bikes had been stolen from the area. They’re terrified that Tyson has also been stolen and are desperate to get him home.The family live in Inver, and Tyson was last seen on Saturday evening on one off the back roads near the town.The distraught owner Lisa Furey told Donegal Daily, “We don’t tie him up, but we do have a shock system the whole way around our house, so it’s unusual for him to leave.“He was wearing a red shock collar, and he is quite a big pup and has two different colours for his eyes, one brown and the other bright blue. “We’re desperate to find him as he’s part of the family. 🙁 🙁“We also want to make people aware that a number of people have noticed a grey transit van around the Donegal area acting suspiciously.“If people see this story it will hopefully make them aware and get the word out in case other dogs stolen.The family believe that Tyson was stolen and that those responsible for taking him intend on selling him.“You see dogs being put up for sale on Done Deal all the time, now we know the majority are genuine but some aren’t, so we’re checking regularly to see if we can see Tyson. Lisa is asking Donegal Daily readers to share this article in the attempt to alert anyone who may have spotted Tyson.If you have any information please contact Lisa on 087 4426 874 or 087 9233 249.#findtysonMISSING: FAMILY LEFT DEVASTATED AFTER THEIR HUSKY PUP GOES MISSING was last modified: May 27th, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:donegalhuskyinvermissingnewsNoticesPupstolenlast_img read more

first_imgGuinness’s Estella Muzito(centre) shares a light moment with the Sevens’ players and management at Legends in Kampala. Photo by Shaban Lubega.Ahead of next month’s Africa Rugby sevens tournament in Kampala, Uganda Breweries through their brand Guinness has invested Shs200m in the the two-day event.The tournament that will run from October 6-7 at Legends grounds will see nine other countries join defending champions Uganda for this year’s championship.“We are happy to be back for the Rugby and excited about the possibility of Uganda retaining the championship,” Said Guinness’ Estella Muzito.“We have sponsored Rugby tournaments before but this one is special because our country (Uganda) won it last year and it also serves as a qualification for both the World Cup and Commonwealth games.Uganda is in pool A along with Zimbabwe, Tunisia, Botswana and Zambia. Uganda beat up on Namibia 38-19 in Nairobi, Kenya last year to win its maiden championship.Mike Wandera, the sevens team manager, was full of praise for Nile Breweries and the national team.“It is great they(Guinness) have come on board and hopefully more companies can join them so that we have a successful tournament and may be retain the title,” Wandera said.“I am proud of the lads and the management and I have a good feeling going into the games next month,” he added.Uganda is seeking to become the first nation to retain the tittle since 2013.This also serves as Sevens qualifiers for next year’s World Cup in San Fransisco, USA and the commonwealth games in Gold Coast.African Rugby Sevena6th-7th October 2017Legends GroundsKampala-UgandaPrice: Tickets for Shs20,000 per dayCommentslast_img read more

first_imgThe Raiders have released both wide receiver Jordy Nelson and quarterback A.J. McCarron, they announced Thursday afternoon.Nelson was the Raiders’ No. 1 wide receiver at the end of last season, and the team paid him a $3.6 million bonus late in 2018. His release open up over $3.5 million in cap space, according to Over The Cap, since he carried a cap number of over $5.3 million but a dead money hit of $1.8 million. His $3 million base salary for 2019 would’ve become fully guaranteed if he was …last_img read more

first_imgCLICK HERE if you are having a problem viewing the photos on a mobile deviceSAN JOSE — Brent Burns made sure that the Sharks season-high losing streak didn’t reach an embarrassing pre-Joe Thornton era mark.Burns blasted in a shot from the point just 22 seconds into overtime at SAP Center on Saturday, ending the Sharks losing streak at seven games with a 4-3 win over the Vegas Golden Knights.In doing so, the Sharks clinched home-ice advantage in the opening round of the Stanley Cup playoffs, …last_img read more

first_img(Visited 48 times, 1 visits today)FacebookTwitterPinterestSave分享0 It takes more to turn a dinosaur into a bird than changing arm and leg ratios and reducing body size.The summary of an article on Science Daily foretells what it will try to explain:The key characteristics of birds which allow them to fly — their wings and their small size — arose much earlier than previously thought, according to new research that examined closely the Paraves, the first birds, and their closest dinosaurian relatives which lived 160 to 120 million years ago. Researchers investigated the rates of evolution of the two key characteristics that preceded flight: body size and forelimb length. In order to fly, hulking meat-eating dinosaurs had to shrink in size and grow much longer arms to support their feathered wings.The article promised “New insights into origin of birds” by focusing on “key characteristics that preceded flight: Body size, forelimb length.”  A little reflection makes it clear, though, that smaller size and shrinkage of forelimbs is not going to help a dinosaur caught falling out of a tree or running along the ground, assuming the two leading theories about the origin of flight (arboreal vs. cursorial).  A small rock with long arms drops at the same rate as a large rock with short arms.Mark Puttick and his team from the Universities of Sheffield and Bristol could say that these “key characteristics” are prerequisites only – not that they are explaining flight itself.  Nevertheless, flight is a major theme in their statements.  It’s what they aim to explain.“We were really surprised to discover that the key size shifts happened at the same time, at the origin of Paraves,” said Mr Puttick of Bristol’s School of Earth Sciences. “This was at least 20 million years before the first bird, the famous Archaeopteryx, and it shows that flight in birds arose through several evolutionary steps.”What did their research consist of?  They “applied new numerical methods that calculate the rate of evolution of different characteristics across a whole evolutionary tree, and identify where bursts of fast evolution occurred.”  Clearly this assumes evolution occurred.  It is useless, therefore, to counter arguments for design, because they assume evolution to “prove” evolution.  Even so, there are contradictions within the evolutionary scenario.   For one, different traits helpful for flight “evolved” at different rates.  For another, they have to account for certain dinosaurs surviving with long arms and stubby legs for 20 million years, without being able to use them for flight.  It would seem those ungainly limb ratios would hinder survival on the ground with other fast-running theropods able to outrun and outcompete them.  Evolutionary theory prohibits traits emerging with the goal of using them for flying millions of years later.  Each variation has to have immediate survival value.Without details, the article claims “a whole group of dozens of little dinosaurs were lightweight and had wings of one sort or another” that were “gliders or parachutists, spreading their feathered wings, but not flapping them.”  How they could know that is curious, since they weren’t there as Jurassic birdwatchers.  It would be necessary to know if these “dinosaurs” were secondarily flightless birds.  More importantly, powered flight with flapping wings and all the accessory equipment is far different from gliding behavior, requiring new flight muscles (pectoralis and supracoracoideus) as well as related ligaments, nerves, and brain hardware and software to operate them.Puttick’s paper in Evolution (co-authored with Gavin Thomas and Michael Benton) is entitled, “High Rates of Evolution Preceded the Origin of Birds.”  The paper seems to focus on body size alone as the determining factor: “The high evolutionary rates arose primarily from a reduction in body size, as there were no increased rates of forelimb evolution.”  The Aves class was unique, they claim, in its ratio of forelimb length to body size.  “Traits associated with Aves evolved before their origin, at high rates,” they say – without accounting for how or why evolutionary rates should be high or low, nor why they should evolve before flying birds appeared.  All their thinking depends, furthermore, on believing the evolutionary dates and the evolutionary trees.The beautiful Illustra documentary Flight: The Genius of Birds gives a much more elegant and satisfying explanation for flight, because it doesn’t gloss over the details, but accounts for all the traits needed for powered flight: efficient one-way lungs, efficient digestive and excretory systems, the beautifully engineered flight muscles that provide a compact center of gravity, the hollow bones, the navigation systems, the sensory components (able not only to see details from the air but to sense the magnetic field), the exquisite design of feathers, and the behaviors that allow birds to take advantage of air currents, including the lift from other birds in formation flight (1/16/14).  The integrated systems that allow an eagle to pick a fish out of a lake, a hummingbird (12/05/13) to hover in mid-air sucking its food out of a flower with a specialized nectar-trapping tongue, or a snowy egret with its large, elegant wings to fly between tree limbs without hitting them, are explained by appealing to what we know in our universal experience about complex functional systems.  Intelligent design is a known “vera causa” (true cause) that can account for the observations.Evolution, by contrast, comes up empty looking for a true cause for flight (7/30/13).  Never do we see blind, unguided processes leading to complex functional systems with integrated parts contributing to the overall design goal.  Intelligent design is, therefore, the best scientific explanation in contrast to the storytelling from the Darwin camp (9/30/13).  The Tweety Rex fable looks downright silly by comparison.  With its high perhapsimaybecouldness index, its stretchable rates of evolution (a clear ad hoc theory rescue device), and its copious use of magic words (emerged, arose, developed, appeared), it reduces to “birds evolved because they evolved.”  If the public were allowed to hear the two explanations side by side, there would be no contest.  Darwin’s flightless DODO birds would go running out of the auditorium in shame.last_img read more

first_img6 June 2013 Young people in Mamelodi, east of Pretoria learned about the effects of alcohol and drug abuse as the Department of Trade and Industry’s National Liquor Authority kicked off its Youth Month campaign on Wednesday. Youngsters from Mamelodi and its surrounds came out in their numbers to learn about the opportunities available to help them turn their lives around in a positive manner. Those who attended the session were given an opportunity to interact with officials from the South African National Council on Alcoholism and Drug Dependence and the Gauteng Liquor Board, who emphasised the dangers of alcohol and drug abuse. They were advised on how to use their skills so to participate in the economy by creating their own employment. Alternatives like the formation of cooperatives and the formalisation and registration of businesses were presented to the young people by the Companies and Intellectual Properties Commission (CIPC). The DTI said the campaign aimed to encourage young people to use their time and energy to grapple constructively with the challenges that they face, such as unemployment and HIV/Aids The Liquor Act of 2003, which is administered by the National Liquor Authority (NLA), requires the department to take steps to reduce the socio-economic costs of alcohol abuse in the country. The Act also requires the NLA to promote the development of a sustainable liquor industry in a manner that instils the ethos of social responsibility. Source: SAnews.gov.zalast_img read more

first_img*This step is REALLY important, if you want to avoid being haunted by your cache for life. Left behind cache containers turn treasure to garbage and convert a game that cherishes nature into a game that litters. Cache ownership requires regular trips to the cache’s hiding spot to replace full logbooks, make sure the container is in good shape, and keep a look out for changing conditions. If you know you are going to move and live too far from your cache to do maintenance, you have two options. You can either transfer ownership of the cache to another geocacher in your old home zone or you can collect the cache container* and archive the cache listing online. You are moving There is so much to do—and then you have to do it all over again. If life becomes too busy and you think you cannot be the responsible cache owner you aspire to be, it might be time to say goodbye to your beloved cache. As mentioned above, think about transferring ownership or collect the container and archive the cache. Doing so will free up the location for someone else to hide their own. If you are dealing with repeated muggle theft and have replaced a cache container over and over again, the location might be haunted itself. You tried a better disguise (camo), changed the cache container to fit better in its hiding spot—but still, the geocache has vanished once again. After you thoroughly checked the location to make sure the container really isn’t there you should archive the cache listing. Nothing is spookier than coming across an unloved geocache. Its soggy logbook gives you goosebumps, the broken container allows a look at its rotting insides. Terrifying! Life takes over Construction, weather, or changes to land ownership—no location will remain the same forever. Make sure to read the logs on your owned caches and visit the location periodically to make sure the cache is in place and accessible. Otherwise it’s time to collect the container, archive the cache, and find a better spot where you can hide a new geocache. The cache location is changingcenter_img SharePrint RelatedThe Ghost of Unfound Caches needs helpOctober 10, 2016In “News”9 Tips for responsible cache maintenanceJune 6, 2017In “Learn”3 million active geocaches? How to make your cache stand out!May 1, 2017In “Community” If you take these tips to heart and collect and archive your cache when necessary, we can (almost) guarantee you won’t be haunted by the ghost of your caches past. You receive multiple DNFs But that doesn’t mean you have to give up cache ownership altogether. You could consider hosting a geocaching event to continue the feeling of community without the need for continuous maintenance. If you’re a cache owner and don’t want to be haunted by the ghost of your caches past, here are some tips for you. Here’s how to decide when a geocache is ready for the cache cemetery and how to deal with the cache remains. How do you make sure your caches are well cared for? Share your tips in the comments!Share with your Friends:More Top reasons it might be time to archive your cache:last_img read more