Friday, October 31, 2014

Xiaomi becomes third largest smartphone maker in just three years

5:53 AM by Rifan MuazinNo comments

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Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/






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Lenovo completes acquisition of Motorola Mobility

5:53 AM by Rifan MuazinNo comments

Chinese PC maker Lenovo has completed the acquisition of Motorola Mobility from Google. The deal, valued at $2.91 billion, was announced in February this year.


Google had acquired Motorola Mobility a couple of years ago.


According to a Motorola blog post on Thursday, “In Lenovo we have a partner that shares our mission and that brings global scale, a diverse product portfolio and a track record of seizing strategic opportunities and making the most of them. Together we will go farther, faster. With an impressive portfolio of smartphones, wearables and PCs, our two companies will be uniquely positioned to push the boundaries of choice and value, and bring exciting new experiences to people everywhere.”


The blog brushed aside speculation that the Motorola brand and its offering would be discontinued once the acquisition is complete. “We will be a wholly owned subsidiary of Lenovo and remain headquartered in Chicago’s Merchandise Mart while maintaining offices around the world, including in Silicon Valley,” the blog said.


“The iconic Motorola brand will continue, as will the Moto and DROID franchises that have propelled our growth over the past year. We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems. And we will continue to develop mobile devices that bring people unprecedented choice, value and quality.”


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





Chinese PC maker Lenovo has completed the acquisition of Motorola Mobility from Google. The deal, valued at $2.91 billion, was announced in February this year.Google had acquired Motorola Mobility a couple of years ago. According to a Motorola blog post on Thursday, "In Lenovo we have a...

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JDI Dating Ltd fined for using fake computer-generated profiles to trick users

5:53 AM by Rifan MuazinNo comments
  • JDI Dating Ltd sent new users messages claiming to be from people nearby

  • But they could only respond by upgrading to paid memberships of up to $30 a month 

  • Firm sent out messages expressing romantic interest from ‘Virtual Cupids’

  • Company operates 18 websites around the world with 12million members 

  • US Federal Trade Commission has fined the firm $616,165 (£385,590)

  • Claims JDI Dating also failed to tell users that their subscriptions would be renewed automatically

By


Julian Robinson for MailOnline



Published:

04:26 EST, 31 October 2014


|
Updated:

06:11 EST, 31 October 2014



Will Apple Pay be mobile pay's kick-start?

5:53 AM by Rifan MuazinNo comments

That’s what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.


Two previous attempts — by Google and a partnership of ATT, Verizon and T-Mobile called Soft Card — haven’t pushed consumers to pay for things with their Android phones. Now it’s Apple’s turn.


Apple Pay is in line with the Apple playbook, said Jennifer Kent, director of research at Dallas-based Parks Associates. “Let others test it and let it mature a bit, then get the right partners and launch it with big marketing behind it.”


On the second day that Apple Pay was available, customers with the just-released iPhone 6 were using it to pay at Whole Foods Market in Dallas.


“I used Google Wallet a few months. It was easy, but there weren’t enough places to use it,” said Eduardo Espinoza, 24, of Dallas, who used Apple Pay for the first time on Tuesday to buy his takeout lunch at Whole Foods.


“Apple is just better at making things mainstream,” Espinoza said. “I’ll be using it here every day. It was easy. I didn’t have to take out my wallet.”


Banks love Apple Pay, too, and are actively marketing it because it uses their Visa, Mastercard and American Express cards, which are often already in customers’ Apple iTunes accounts.


MCX ON THE HORIZON


Much of the retail industry is on the sidelines, quietly hoping that Apple will succeed in getting us acclimated to mobile paying.


Target is not accepting Apple Pay in its stores but has allowed it on its mobile shopping app for online purchases. The world’s biggest retailer, Wal-Mart, is noticeably absent. And Home Depot spokeswoman Paula Drake said, “It’s still too early to determine what, if anything, we will do with Apple Pay.”


Another mobile pay system is in the works from a company formed two years ago by more than 50 major retailers including Wal-Mart, Target, 7-Eleven, Gap, Lowe’s and Kohl’s. Called Merchant Customer Exchange, or MCX, the group has developed an app called CurrentC that doesn’t require extra hardware at the checkout.


Last month, MCX revealed its brand name and said CurrentC is in a private test. The company, which has offices in Boston and Dallas, declined an interview request or to allow CurrentC to be photographed in action.


MCX did say on its website in September that it plans to launch next year and has in its system 110,000 stores that represent $1 billion a year in sales, or more than 20 percent of all U.S. annual retail sales.


That dwarfs the number of stores in Apple Pay’s universe, which included about a dozen companies at launch. The biggest on the list are McDonald’s, Macy’s, Staples, Walgreens and Whole Foods.


But maybe not for long, analysts said.


INVESTING IN EQUIPMENT


Retailers have waited to see clear demand from consumers before investing in equipment to facilitate mobile payments, Kent said.


“That’s been a barrier, but we’ve busted through it finally with the mass consumer adoption of smartphones,” Kent said.


So far, Apple Pay and other systems require checkouts to be equipped with NFC, or near-field communication.


The price per terminal for NFC capability is about $100 to $150 for both hardware and software, said Debbie Simurda, director of business development at Mainstreet Inc., a firm that specializes in customizing checkout systems for retailers.


Simurda expects most payment terminals to add NFC.


“Before it likely was an option, but with Apple Pay it may almost be considered a standard feature,” she said.


Retailers are upgrading their systems anyway as big credit card breaches continue to be discovered. Stores have until October 2015 and gas stations have until 2017 to install new systems that can read more secure EMV chips on cards. EMV, short for Europay-Mastercard-Visa, is considered more secure because it’s harder to copy account numbers and security codes from chips than from the magnetic strips on most cards used in the U.S.


Even though MCX retailers so far aren’t accepting Apple Pay, Simurda believes that’s unlikely to hold true for long because CurrentC isn’t due out until next year and mobile payments are expected to grow rapidly now.


About 3 percent of retail sales are mobile, and Starbucks, a brand with loyal daily customers, has had the most successful application so far, Kent said.


‘THE HOLY GRAIL’


“CurrentC has the holy grail. It’s ubiquitous. I’ll be able to pay with it all the time,” Kent said. “I like the MCX strategy. It can be very successful, but it needs to get to market soon.”


Even Google Wallet, which was too early to market, has an opportunity to benefit from Apple Pay now, analysts said. It runs on Android phones and also requires NFC.


MCX is software-based and requires only a checkout scanner to work. Its CurrentC app will also be the only one that works on both iPhones and Android phones, MCX said.


So far, Apple Pay is attracting those first responders and younger, more affluent shoppers.


Southern Methodist University student Abdul Alassaf, 20, and his brother Bader Alassaf, 18, bought their iPhones on the first day they were available last month. They were at Whole Foods on Tuesday to be among the first to use Apple Pay.


“We couldn’t wait to try it out,” Abdul said. They spent $79 on paper plates, bottled water and a few other things for a dinner party.


Their critique: “It was so easy.”


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




That’s what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.
Two previous attempts — by Google and a partnership of ATT, Verizon and T-Mobile called Soft Card — haven’t pushed consumers to pay for things with their Android phones. Now it’s Apple’s...

tech, technology

Get your questions ready, Mark Zuckerberg's giving you the chance to ask him ...

5:53 AM by Rifan MuazinNo comments

Have you ever wondered who Mark Zuckerberg’s celebrity crush is? Or how many hours a day he spends working? Well, next week you’ll get the chance to have all your questions answered as the Zuck will be participating in a public QA session for the first time.


QA’s are nothing new to Zuckerberg, as Facebook already holds an internal QA each Friday that gives employees the opportunity to ask their CEO anything they like.


Read more: Mark Zuckerberg pours $25 million into the fight against Ebola


In a recent post on his Facebook wall, he said, “people ask thoughtful questions about why our company is going in certain directions, what I think about things happening in the world and how we can continue improving our services for everyone.


“I learn a lot from the QA’s and the questions people ask help us build better services.”


And now it’s time for Facebook’s 1.35 billion users to get in on the act, with the opportunity to ask literally anything you can think of. Some of our personal favourites so far include “why you forced us to install Facebook Messenger?” and “what beer were you drinking when you created Facebook? This is a MUST know.”



Read more: Watch Mark Zuckerberg speaking Chinese “like someone was stepping on his face”


The hour-long session will take place next Thursday afternoon and Facebook users can either submit their own questions or vote on other questions they want Zuckerberg to answer by following this link.


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/







Have you ever wondered who Mark Zuckerberg's celebrity crush is? Or how many hours a day he spends working? Well, next week you'll get the chance to have all your questions answered as the Zuck will be participating in a public QA session for the...

tech, technology

Microsoft launches its first fitness band

5:53 AM by Rifan MuazinNo comments

Microsoft Band, the first device powered by Microsoft Health, helps you achieve your wellness goals by tracking your heart rate, steps, calorie burn, and sleep quality. It also helps you be more productive with email previews and calendar alerts – right on your wrist. iPhone, Android, or Windows Phone? Microsoft Band is designed to be awesome on multiple platforms.


Microsoft Band makes it easier to reach your fitness goals. You can track your daily physical activity and review your stats with a glance at your wrist. Just like a personal trainer, Microsoft Band guides you to improved wellness by constantly learning about you, your current fitness level, and your future needs.


Monitor your heart rate 24 hours a day so you can perform at your best. See how long and how well you sleep and how often you wake. Map the routes you’ve run, biked, or hiked and save your favorites. Maximize your fitness with a choice of expert-designed workouts that are just right for your needs.


Email previews and calendar alerts appear right on your wrist so you know what you have to do and where you have to be even on the go. And with help from Cortana, your productivity will soar. Monitor and preview email activity at a glance. Get calendar alerts on your wrist so you can be where you need to be. Time your laps around the track or set an alarm to wake you silently.


If you’re using Windows Phone 8.1, ask Cortana to take notes or set reminders with your voice. She’ll give you driving directions and keep you on top of traffic, sports, stocks, weather, and more. She is ready to help whenever you need it.


Your very own personal digital assistant looks out for you and makes life easier. Incoming calls, texts, social updates, weather, finance, and more – see them all on your wrist, discreetly and without needing to pull out your phone. Works with iPhone, Android, and Windows Phone. Get your text messages right on your wrist and reply with a pre-set instant response. See incoming call and voicemail notifications on your band. Don’t miss your friend’s latest tweet or Facebook update.


Built-in GPS and 24-hour heart rate monitoring help you reach your fitness goals. By combining the power of each of our sensors, Microsoft Band is able to give you real-time insights into your performance today and your milestones into the future. Go running without your phone and still get your pace and distance data. The full-color touch screen is responsive and easy to read, even in direct sunlight.


Choose between multiple background designs and colors to reflect your personal style. Get a quick read of the UV Index so you can decide to apply sunscreen before you hit the road. 



Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




Microsoft Band, the first device powered by Microsoft Health, helps you achieve your wellness goals by tracking your heart rate, steps, calorie burn, and sleep quality. It also helps you be more productive with email previews and calendar alerts - right on your wrist. iPhone, Android, or...

tech, technology

Former Android boss Andy Rubin leaves Google

5:52 AM by Rifan MuazinNo comments


31 October 2014
Last updated at 11:57



Andy Rubin co-founded the world’s most popular mobile operating system Android


One of the creators of the world’s most popular mobile operating system is to leave Google, it has been announced.


Andy Rubin, who co-founded the Android project, is to step down after around nine years at the technology giant.


Announcing Mr Rubin’s departure, Google said he created “something truly remarkable” in Android.


Mr Rubin, who has also worked for Apple, reportedly plans to found an incubator for hardware start-up firms.


“I want to wish Andy all the best with what’s next. With Android he created something truly remarkable – with a billion plus happy users. Thank you,” said Google’s chief executive and co-founder Larry Page.


Mr Rubin’s departure comes after he stepped down from Google’s Android division in March 2013 to begin working on the technology giant’s robotics project.


He was behind the acquisition of seven robotics companies in a six-month spell as part of a reported attempt to develop a rival to Amazon’s mooted drone delivery system. Google said that those claims were speculation.


When he left, Android came under the control of Sunder Pichai, a rising star at the company who worked with Google Chrome and Apps, and who has since picked up yet more responsibilities from Larry Page.


‘Extraordinary progress’


Writing on Google’s blog at the time, Mr Page wrote that when Andy Rubin he first launched Android in 2003, “most people thought he was nuts”.


He said Mr Rubin’s vision of “aligning standards around an open-source operating system” struck a chord with Google because it simplified the development process.


And he lauded its subsequent success, which he said was “pretty extraordinary progress for a decade’s work”.


The move comes amid a series of executive changes at Google, which the New York Times reported were designed to relieve Larry Page of the responsibility of running individual projects.


“These changes will free me up a bit so I can focus on the bigger picture with Sundar [Pichai] when it comes to our core products,” it quoted a memo from Mr Page as saying.


The news of Mr Rubin’s departure from Google came as Twitter confirmed that it had demoted its head of product, the former director of Google’s Mobile Apps, Daniel Graf.


Mr Graf was replaced by Kevin Weil, who took up the role of vice president of product. The former retained his title but was given a narrower role.


He will be expected to work on geolocation features and other strategic initiatives, a source intimated.


His demotion came only six months after he was hired from Google and is the second time Twitter’s head of product has been replaced in the year since the initial public offering.


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





31 October 2014
Last updated at 11:57













Andy Rubin co-founded the world's most popular mobile operating system Android


One of the creators of the world's most popular mobile operating system is to leave...

tech, technology

Sony reports a quarterly loss of $1.2bn

5:52 AM by Rifan MuazinNo comments


31 October 2014
Last updated at 11:05



Sony’s mobile phone division has been struggling against global rivals including Apple and Samsung


Japanese consumer electronics giant Sony has reported a net loss for the three months to September of 136bn yen ($1.2bn; £762m).


The loss, which was attributed to its struggling mobile phone business, was not as great as analysts had expected.


In September the firm warned its annual loss might be more than four times bigger than initially forecast.


The firm said it now expects a full-year loss of 230bn yen, compared with a previous estimate of 50bn yen.


On Friday, Sony also reported an operating loss of 85.6bn yen for the September quarter, despite an increase in sales of 7.2% to 1.9tn yen for the period, compared with a year ago.


Sony said the rise in overall sales numbers was mostly due to a “significant increase” in its games and network services sales, “reflecting the contribution of the PlayStation 4.”


Tough competition


The electronics giant has been losing money due to competition in the smartphone sector from global rivals such as Apple and Samsung.


It said it would start to reduce its smartphone presence in China particularly, where it has been losing ground to domestic firms including Xiaomi.


Sony has also been struggling this year to turn around its television unit, which has been losing money due to competition from Asian rivals including Samsung Electronics.


Two years ago, chief executive Kazuo Hirai promised to return Sony’s underperforming electronics business to profit.


But earlier this year he forecast the firm would remain unprofitable until 2015.


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





31 October 2014
Last updated at 11:05













Sony's mobile phone division has been struggling against global rivals including Apple and Samsung


Japanese consumer electronics giant Sony has reported a net loss...

tech, technology

Stratasys sees robust 3D-printing market as HP reveals plans

5:52 AM by Rifan MuazinNo comments




NEW YORK (Reuters) – A day after Hewlett-Packard Co revealed plans for ground-breaking 3D printing technology, 3D-printing manufacturer Stratasys Ltd said it is expecting more competition and pointed to its strong position in a market expected to explode by the end of the decade.



Hewlett-Packard on Wednesday said it had developed 3D-printing technology that can print 10 times faster at considerably less expense than current products, and that it plans to launch the technology broadly in 2016.


Shares of Stratasys have slipped some 3 percent since the announcement, while those of rival 3D Systems Corp have dropped about 5 percent.


At a media event on Thursday in New York, Stratasys executives said the global 3D-printing market is expected to swell from $3 billion last year to $21 billion by 2020, according to industry research.


“Even if some very good competitors are going to enter into this market, I think the growth of the market will allow (Stratasys and other companies to grow),” Stratasys Chief Executive Officer David Reis said in an interview on the sidelines of the event. “It’s not going to be limited to one or two companies.”


3D printing, also known as additive manufacturing, makes products by layering material until a three-dimensional object is created.


The technology, which promises the ability to customize and improve products through new designs and make them more cheaply by using less materials, is employed by hobbyists as well as large companies such as General Electric Co. Industry uses 3D printing for prototyping as well as creating specialized tools, moldings and some end-use parts.


Stratasys said it holds about 55 percent of the market for printers priced at over $10,000, what it calls the enterprise market. For the desktop market of printers under $10,000, it said it holds 35 percent share, largely through its MakerBot branded printers.


“Of course we are concerned about it,” Reis said in the interview, regarding the HP announcement. “But I think that we have a lot in our pocket. We have great technology today. We have real customers using our equipment today.”


During a presentation to journalists, Reis said there would be more competition and that venture capitalists were investing in 3D printing.


“The industry is changing extremely fast,” the CEO told reporters.



(Reporting by Lewis Krauskopf; editing by Gunna Dickson)



Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/






NEW YORK (Reuters) - A day after Hewlett-Packard Co revealed plans for ground-breaking 3D printing technology, 3D-printing manufacturer Stratasys Ltd said it is expecting more competition and pointed to its strong position in a market expected to explode by the end of the...

tech, technology

Apple CEO Says He's 'Proud to Be Gay'

5:52 AM by Rifan MuazinNo comments

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Madison Square Garden revenue climbs 12%

5:52 AM by Rifan MuazinNo comments

Madison Square Garden Co. said its revenue increased 12% in the latest quarter, benefiting from strength at its entertainment and sports segments and a gain from the sale of the Fuse network.


This week, the company said it would explore separating its entertainment businesses from its media and sports operations, becoming the latest in a string of companies to look into cleaving themselves in two.


The company’s sports and media businesses include the New York Knicks and Rangers and the MSG regional sports TV networks. The entertainment business presents and hosts live events such as concerts.


Madison Square Garden also said it is nominating to its board Nelson Peltz, an activist investor who runs Trian Fund Management LP, as well as Scott Sperling, co-president of private-equity firm Thomas H. Lee Partners.


For the quarter ended Sept. 30, Madison Square Garden reported a profit of $108.1 million, or $1.38 a share, compared with $23.9 million, or 31 cents a share, a year earlier. Results included a gain of $162.4 million on the sale of the Fuse network, which the company completed in July.


Revenue climbed to $241.7 million from $215.6 million.


Analysts surveyed by Thomson Reuters recently forecast earnings of 32 cents on revenue of $224 million.


The company’s direct operating expenses increased 17% to $93.9 million.


MSG’s entertainment business led revenue gains in the quarter, as its top line more than doubled to $65.2 million, from $28.6 million a year earlier. The company cited higher event-related revenue at all of the company’s venues and increased venue-related sponsorship.


Revenue at MSG Media, which includes MSG Networks and is the company’s biggest top-line contributor, fell 14% to $142.7 million as affiliation fee revenue declined, mainly due to the absence of revenue for the Fuse network.


The sports segment’s revenue jumped 40% to $53.5 million, on higher suite rental fee revenue and regular season ticket-related revenue.


Splitting up Madison Square Garden, which generated revenue of $1.6 billion in the year ended June 30, would be the latest move by Executive Chairman James Dolan to restructure the media and entertainment assets his family controls.


In 2010, MSG itself was spun out of Cablevision Systems Corp., which Mr. Dolan’s father founded and where he serves as chief executive. A year later, Cablevision spun out the cable company AMC Networks, which is home to TV shows such as “Mad Men” and “The Walking Dead.”


Write to Erin McCarthy at erin.mccarthy@wsj.com


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Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




Madison Square Garden Co. said its revenue increased 12% in the latest quarter, benefiting from strength at its entertainment and sports segments and a gain from the sale of the Fuse network. This week, the company said it would explore separating its...

bussiness

UPDATE 2-AB InBev profit capped by weak US, Brazil recession

5:52 AM by Rifan MuazinNo comments




* Q3 core profit $4.75 bln vs $5 bln Reuters poll average



* U.S. weaker, Brazil stagnant, limited cost savings in

Mexico


* Large shift in China to higher-margin lagers


* Shares down 0.9 pct, weakest in sector


(Adds background, shares, analyst comment)


By Philip Blenkinsop


BRUSSELS, Oct 31 (Reuters) – Anheuser-Busch InBev,

the world’s largest beer maker, increased earnings by less than

expected in the third quarter as U.S. consumers drank less,

Brazil fell into recession and Mexican cost savings dropped

sharply.


The maker of Budweiser, Stella Artois and Corona has coped

with past sales falls by raising prices and selling more premium

beers, but the strategy had limited impact in the United States

and Brazil in the three months to Sept. 30, depressing earnings

in its two largest markets. Overall volumes dropped 2.7 percent.


The brewer’s shares were down 0.9 percent at 86.40 euros by

1030 GMT, making them the worst performer on the STOXX European

food and beverage index and among the weakest of all

European blue chips.


“I’m not too sure about the fourth quarter either. I think

that could be quite tough,” said Societe Generale beverage

analyst Andrew Holland, who recently upgraded the stock to

“hold” in the expectation of strengthening U.S. wage growth.


“There’s not much comfort from the underlying U.S. beer

market and I can’t see the Brazilian economy suddenly turning

around in Q4.”


AB InBev reported a 1.3 percent like-for-like rise in

third-quarter earnings before interest, tax, depreciation and

amortisation (EBITDA) to $4.75 billion, against an average

forecast of $5 billion in a Reuters poll of nine analysts.


The brewer, which sold more than one in five beers drunk

worldwide last year, blamed wholesaler inventory cuts in the

United States, its largest market, the timing of price increases

in Brazil and reduced cost savings in Mexico – down to $10

million from more than $200 million a year earlier.


“We believe that the third quarter was a one-off in terms of

EBITDA performance and is not reflective of expected future

trends for the business,” the company said.



CHINESE AND MEXICAN BUD BOOST


The brewer did benefit from consumers trading up to premium

brands Harbin and Budweiser in China, more than making up for

reduced volumes because of cold weather.


In Mexico, meanwhile, a strengthening economy led consumers

to drink more and swallow price increases, with increasing

numbers also switching to more expensive Bud Light.


AB InBev is the market leader in the United States, Brazil

and Mexico – three of the four beer markets generating the most

profit – but volume growth was minimal in Brazil. The country

fell into recession in the first half of the year, though the

soccer World Cup tournament provided a sales uplift in the

second quarter.


Europe was also weak, with Russian volumes down 20 percent

and consumption falling elsewhere because of very wet weather

that dampened sales in the usually busy month of August.


The brewer repeated its view that volume trends would

improve in the United States and that sales in Brazil and Mexico

would return to growth this year. The company suffered declining

sales last year in all regions but Asia-Pacific.


AB InBev’s performance chimed in part with Dutch rival

Heineken, which last week reported lower than expected

third-quarter sales, citing Europe’s wet summer. [ID:nL6N0SH0XO}


The growth ambitions of world’s top brewers are relying

increasingly on Latin America, Asia and Africa amid subdued

consumer spending in slowly recovering Europe and limited U.S.

expansion.


Still, growth in a number of emerging markets has slowed and

consumers there also drink less when it rains, as Heineken

discovered in Nigeria and SABMiller in central provinces

of China.


More muted growth has led some analysts to suggest that the

industry is ripe for further consolidation, with speculation

that fierce cost-cutter AB InBev could have SABMiller in its

sights.


“MA remains part of our DNA, but given the brands we have,

the market positions we have, we don’t feel any pressure for MA

transactions,” Chief Financial Officer Felipe Dutra said in a

conference call.


(Editing by David Goodman)



Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/






* Q3 core profit $4.75 bln vs $5 bln Reuters poll average
* U.S. weaker, Brazil stagnant, limited cost savings in
Mexico* Large shift in China to higher-margin lagers* Shares down 0.9 pct, weakest in sector

(Adds background, shares, analyst comment)By Philip BlenkinsopBRUSSELS, Oct 31...

bussiness

Shake-ups help Sony and Panasonic turn the corner

5:52 AM by Rifan MuazinNo comments


Sony also lowered its smartphone sales forecast outlook to 41m handsets from

43m, compared with 39m last year. Games such as Grand Theft Auto V have

helped drive PlayStation sales.



Sony’s group sales over period rose 6.5pc to 3.71 trillion yen.



Panasonic also began to see the results of a restructuring that saw it abandon

unprofitable lines, raising its full-year net profit forecast by 35bn yen to

175bn, even though half-year net profit plunged by 52.2pc to £80.9bn.



On a quarterly basis operating profit rose 15pc to 94.7bn yen, ahead of a

consensus analyst forecast of 79bn yen.



The company said that operating profit in its auto division which supplies

batteries to electric car maker Tesla, rose 31pc.




Games such as Grand Theft Auto V have helped drive PlayStation sales


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





Sony also lowered its smartphone sales forecast outlook to 41m handsets from
43m, compared with 39m last year. Games such as Grand Theft Auto V have
helped drive PlayStation sales.


Sony’s group sales over period rose 6.5pc to 3.71 trillion yen.


Panasonic also began to see the r...

bussiness

GDP takeaways: It could be as good as it gets

5:52 AM by Rifan MuazinNo comments


October 30, 2014 5:54 pm



Robin Harding in Washington


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





October 30, 2014 5:54 pm


Robin Harding in Washington


bussiness

Consumer Spending in US Unexpectedly Drops as Incomes Cool

5:52 AM by Rifan MuazinNo comments

Consumer spending in the U.S. unexpectedly dropped in September as incomes (PITLCHNG) rose at the slowest pace of the year, indicating the economy will have difficulty sustaining a pickup in growth into the end of the year.


Expenditures decreased 0.2 percent last month, weaker than any economist projected in a Bloomberg survey, after rising 0.5 percent in August, Commerce Department figures showed today in Washington. Incomes increased 0.2 percent, the smallest gain since December.


Wages that are barely outstripping the pace of inflation may be restraining spending by some households, while slower increases in home prices and volatility in the stock market is also limiting wealth gains. Continued improvement in employment will be needed to further boost confidence and give consumers the means to spend at companies such as Kroger Co. (KR:US), the largest U.S. grocery-store chain.


“We had an extremely strong month in August and there’s going to be an ebb and flow in the consumption profile,” Jacob Oubina, senior U.S. economist at RBC Capital Markets LLC in New York, said before the report. In addition, “consumers have saved a good portion of the wage growth that we experienced this year.”


The median estimate of 81 economists in a Bloomberg survey called for a 0.1 percent gain in spending. Forecasts ranged from a 0.1 percent decrease to a 0.3 percent advance.


Income Survey


The Bloomberg survey median called for incomes to rise 0.3 percent, matching the August reading.


A report today from the Labor Department showed employment costs rose 0.7 percent in the third quarter, more than forecast and matching the increase in the previous three months. The gain was paced by a 0.8 percent advance in wages and salaries that was the biggest since the second quarter of 2008.


Today’s consumption data showed that after adjusting consumer spending for inflation, which generates the figures used to calculate gross domestic product, purchases dropped 0.2 percent last month after a 0.5 percent gain in August.


Spending on durable goods, including automobiles, decreased 1.9 percent after adjusting for inflation following a 2.3 percent gain. Purchases of non-durable goods, which include gasoline and clothing, declined 0.3 percent.


Household outlays on services rose 0.1 percent after adjusting for inflation. In addition to health care, the category also includes categories such as utilities, tourism, legal help and personal care items. This typically makes it difficult for the government to estimate accurately in the preliminary report.


Monthly Breakdown


Today’s report gave the monthly breakdown of the third-quarter data issued yesterday. That report showed consumer spending, which accounts for almost 70 percent of the economy, climbed at a 1.8 percent pace after growing at a 2.5 percent rate in the second quarter. The weak reading at the end of the quarter gives consumption little momentum heading into the last three months of the year.


Today’s report also showed that prices tied to consumer spending rose 1.4 percent in the year ended September, matching the downwardly revised reading from the prior month. Federal Reserve policy makers aim for increases of 2 percent a year.


Central bankers in the U.S. are taking a sanguine view on the outlook for prices. In announcing their decision to stop pumping money into financial markets, Fed officials this week said inflation in the near term will probably be held down by lower energy prices. They repeated language from their September statement that “the likelihood of inflation running persistently below 2 percent has diminished somewhat.”


Tame Inflation


The core price measure, which excludes fuel and food, rose 0.1 percent in September from the prior month and was up 1.5 percent from a year ago, today’s report showed. Year-over-year gains have held at that level since May.


Consumer confidence that rose to a seven-year high this month may underpin spending going forward, as more job security and cheap gas brighten the economic outlook for some households. That bodes well for companies such as Kroger, which said in September that it was also hiring about 20,000 workers for permanent positions as it seeks to keep up with growing demand.


“I think customers are feeling good,” Matt Thompson, Cincinnati, Ohio-based, Kroger’s director of digital and eCommerce, said Oct. 29 at an investor meeting. At the same time, “there is a segment of customers that still have some concern and it’s more of the value of equation for some customers.”


Disposable Income


Disposable income, or the money left over after taxes, was little changed in September after adjusting for inflation, the weakest performance this year. It rose 0.3 percent in the prior month and was up 2.5 percent from September 2013.


The saving rate was 5.6 percent last month, compared with 5.4 percent in August.


Yesterday’s report from the Commerce Department showed the U.S. economy last quarter capped its strongest six months of growth since 2003, as gains in government spending and a shrinking trade deficit made up for a slowdown in household purchases. Gross domestic product grew at a 3.5 percent annualized rate in the three months ended September after a 4.6 percent gain in the second quarter, Commerce Department figures showed today in Washington.


The GDP figures help explain why Fed policymakers felt confident enough to end their bond-buying program this week, while maintaining a pledge to keep interest rates low for “a considerable time.”


“Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate,” the Federal Open Market Committee said in a statement in Washington. “A range of labor market indicators suggests that underutilization of labor resources is gradually diminishing,” the panel said, modifying earlier language that “there remains significant underutilization of labor resources.”


To contact the reporter on this story: Victoria Stilwell in Washington at vstilwell1@bloomberg.net


To contact the editor responsible for this story: Carlos Torres at ctorres2@bloomberg.net


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




Consumer spending in the U.S. unexpectedly dropped in September as incomes (PITLCHNG) rose at the slowest pace of the year, indicating the economy will have difficulty sustaining a pickup in growth into the end of the year. Expenditures decreased 0.2 percent last month, weaker than any...

bussiness

Exxon Q3 Preview: Lower Production and Oil Prices To Weigh On Earnings

5:52 AM by Rifan MuazinNo comments

Exxon Mobil is scheduled to announce its 2014 third quarter earnings on October 31. We expect lower crude oil prices to weigh on the company’s upstream earnings growth. Benchmark crude oil prices have declined sharply over the past few weeks on rising supplies and falling demand growth estimates. The average Brent crude oil spot price declined by almost 8% year-on-year during the third quarter and will negatively impact the company’s crude oil revenues and operating margins. On the other hand, spot Henry Hub natural gas prices were up more than 11% y-o-y during the last three months, primarily due to lower inventories compared to last year. Since nearly 53% of the total natural gas produced by Exxon’s subsidiaries comes from the U.S., higher Henry Hub gas prices are expected to boost the company’s upstream earnings. In addition to higher natural gas prices in the U.S., we expect Exxon’s earnings to also benefit from better production mix due to higher growth in liquids (crude oil, natural gas liquids, bitumen and synthetic oil) production during the quarter, primarily driven by the ramp up of its Kearl project in Canada and the unconventional plays in the U.S. During the earnings conference call, we will be looking for an update on Exxon’s ongoing new project development, specifically the Kearl expansion and the Hibernia Southern expansion projects in Canada, the Banyu Urip project in Indonesia and the Kashagan oil field in Kazakhstan.


Exxon Mobil is the world’s largest publicly traded international Oil and Gas Company. It generates annual sales revenue of more than $420 billion with a consolidated adjusted EBITDA margin of ~14.7% by our estimates. We currently have a $107/share price estimate for Exxon Mobil, which values it at around 13.4x our 2014 GAAP diluted EPS estimate of $7.96 for the company.


See Our Complete Analysis For Exxon Mobil


Lower Hydrocarbon Production


We expect Exxon’s upstream earnings to decline during the third quarter on lower crude oil prices and negative hydrocarbon production growth, primarily due to the expiry of the Abu Dhabi onshore concession agreement. The company lost its 75-year rights to the emirate’s oldest producing fields this January, when the Second World War-era contract expired. These oilfields together account for around 50% of Abu Dhabi’s total oil output (almost 3 million barrels per day) and hold more than a 100 billion barrels of oil and oil equivalent.


Until a new concession agreement is signed, Abu Dhabi National Oil Company (Adnoc) will be the sole-risk shareholder of the Abu Dhabi Company for Onshore Oil Operations (Adco), the current concession’s joint-venture operator. As a result, Exxon and other foreign oil companies, which were previously involved in the concession, will not be able to lift equity oil or book reserves from these oil fields. During the first half of this year, Exxon’s average daily hydrocarbon production declined by around 5.6% y-o-y, primarily due to the expiry of the Abu Dhabi concession agreement. We expect to see a similar variance in volumes during the third quarter as well.
Better Production Volume Mix


Exxon’s total hydrocarbon production can be broadly split into two categories – liquids, which include crude oil, natural gas liquids, bitumen and synthetic oil, and natural gas. Liquids made up more than 60% of Exxon?s total hydrocarbon production in 2009. However, its percentage contribution declined significantly after the company acquired XTO for $41 billion in 2010, which increased its natural gas production by 31% y-o-y that year. More importantly, most of the increase came from the U.S., where natural gas prices have been significantly depressed by international standards due to a sharp rise in production from unconventional sources. (See: Key Trends Impacting Natural Gas Prices In The U.S.)


Liquids have generally become more profitable to produce than natural gas because of higher price realizations. Last year, Exxon sold liquids at an average price of around $95 per barrel, compared to just around $41 realized per barrel of oil equivalent of natural gas. This is the reason why the company has been trying to improve the proportion of liquids in its production mix over the last couple of years. Last year, liquids made up 52.7% of Exxon’s total hydrocarbon production, up from 51.5% in 2012.


During the first half of this year, Exxon?s total liquids production increased by over 40,000 barrels per day, or almost 2% y-o-y, excluding the impact of the Abu Dhabi onshore concession expiry. On the other hand, its natural gas production declined by more than 900 million cubic feet per day, or more than 7.3% y-o-y. Although, lower weather-related demand in Europe exaggerated the decline in natural gas production during the first quarter, we expect the overall trend of improving volume-mix to manifest itself in Exxon’s third quarter earnings as well. The company expects its liquids production to grow by ~2% y-o-y and natural gas production to decline by around 3% for the full year. This is expected to drive better price realization per barrel of oil equivalent and improve its unit profitability.Key Upstream Project Updates


During the third quarter earnings call, we will be looking forward to an update on Exxon’s Kearl expansion project in Canada. Located 70 kilometers north of Fort McMurray, the Kearl oil sands project holds an estimated 4.6 billion barrels of recoverable bitumen resource and is expected to remain in production for as long as 40 years. The production of mined diluted bitumen from first of the three froth treatment trains at the project began in April last year.





Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/







Exxon Mobil is scheduled to announce its 2014 third quarter earnings on October 31. We expect lower crude oil prices to weigh on the company’s upstream earnings growth. Benchmark crude oil prices have declined sharply over the past few weeks on rising supplies and falling demand growth ...

bussiness

AbbVie raises outlook as profit, sales beat

5:52 AM by Rifan MuazinNo comments

AbbVie Inc. boosted its earnings guidance for the year and posted higher sales in the pharmaceutical company’s first earnings report since its megamerger with Shire PLC fell apart.


The company’s profit for the third quarter fell as expenses rose, but the overall results exceeded expectations.


AbbVie raised its outlook for the year to $3.25 to $3.27 a share in earnings from its previous estimate of $3.06 to $3.16.


AbbVie and Shire walked away from their $54 billion agreement amid U.S. regulatory pressure over so-called inversion deals. The structure of the AbbVie-Shire merger would have enabled Illinois-based AbbVie to enjoy a lower tax burden by relocating to the U.K.


When the deal fell apart last month, AbbVie said it agreed to pay Shire a breakup fee of about $1.635 billion. The company also said it would boost its quarterly dividend by nearly 17% and authorize a $5 billion stock-repurchasing program.


Pharmaceutical companies in general have experienced sales pressures as they lose patent exclusivity to big-selling drugs. For its part, AbbVie has been looking to lessen its reliance on Humira, which was the top-grossing prescription medicine last year, as the drug is slated to start losing its patent protection by the end of 2016.


In the most-recent period, Humira posted a 25% increase in sales to $1.74 billion.


Overall, AbbVie reported earnings of $506 million, or 31 cents a share, down from $964 million, or 60 cents a share, a year before. Excluding items, per-share earnings were 89 cents, above the company’s projection of 77 cents to 79 cents a share.


Net sales rose 7.8% to $5.02 billion. Analysts had projected $4.83 billion in revenue, according to Thomson Reuters.


Operating costs and expenses increased 16% to $3.81 billion, while research and development costs rose 40% to $308 million.


AbbVie also said it looks forward to U.S. regulators approving a key hepatitis C virus treatment before the end of the year.


Write to Michael Calia at michael.calia@wsj.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




AbbVie Inc. boosted its earnings guidance for the year and posted higher sales in the pharmaceutical company's first earnings report since its megamerger with Shire PLC fell apart. The company's profit for the third quarter fell as expenses rose, but the...

bussiness

Can Starbucks Crowdsource Its Delivery Service? Yes. But Should It?

5:52 AM by Rifan MuazinNo comments

Starbucks Starbucks is planning to roll out a delivery option available on its mobile app in select cities next year, according to comments made by CEO Howard Schultz during the earnings call.


“We are playing offense,” is how he put it and indeed the company is prepping some innovative offerings to continue grow. It has high hopes for its mobile app and has gotten downright creative in all the ways it can be used to build customer loyalty.


For example the company is launching a test pilot in which consumers can place pickup orders from the app and have it ready for their arrival, according to the company’s Chief Digital Officer Adam Brotman, who told Re/code of the plans earlier this year.


Compared to that thinking, a delivery service seems, well, fairly basic. Why didn’t Starbucks offer it before? Possibly because the costs might have been too prohibitive before the crowdsourcing labor model became mainstream, thanks to such companies as Uber and Deliv.


Deliv launched almost three years ago to become a popular service for retailers like Williams-Sonoma and a growing number of malls.


A shopper within a certain radius of the mall or store can have her purchase delivered to her the same day, whether she bought the goods online or at the store, with the offer for delivery typically made as she pays for the purchase. The price is around $5 per delivery.


Drivers get paid by the hour; CEO Daphne Carmeli told me in an earlier interview this year they receive between $12 to $15 an hour plus a stipend for driving costs. The model is cost effective, she says, because they deliver many packages on their runs for many retailers, all beginning from the same location.


Then again, such a model does not fit with Starbucks’ generous treatment of its employees and their better than living-wage pay. The company is noted for its many benefits including underwriting part of their college education and health insurance.


One tenant of crowdsourcing labor is that these individuals are individual contractors, willing to work at a moment’s notice. Which is all well and good if both sides are happy with the arrangement. However as grumblings from some of Uber’s drivers have shown, that is not always the case.


Starbucks may be facing a choice between unhappy contract workers — probably voicing their discontent publicly — or a higher-cost delivery model. Which it views as the lesser of two evils will be interesting to find out.


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/







Starbucks Starbucks is planning to roll out a delivery option available on its mobile app in select cities next year, according to comments made by CEO Howard Schultz during the earnings call.
“We are playing offense,” is how he put it and indeed the company is prepping some inn...

bussiness

Ruble Falls as Central Bank Raises Rates: Russia Reality Check

5:52 AM by Rifan MuazinNo comments

Markets are reacting in real time to

tension in Ukraine following Russia’s March incursion into

Crimea and subsequent annexation of the Black Sea peninsula.


The ruble weakened 1.4 percent to 42.2485 per dollar at

2:33 p.m. in Moscow, extending its decline since Feb. 28, the

day before President Vladimir Putin’s incursion, to 15 percent.

The Micex Index gained 1.4 percent to 1,472.68, giving a gain of

1.9 percent in the period. The yield on local-currency bonds due

February 2027 rose seven basis points to 9.98 percent for an

increase since Feb. 28 of 162 basis points.


The chart shows the performance of stocks, bonds and the

ruble, along with indicators of Russian investment risk. The top

panel displays the value of the Micex Index of 50 stocks,

government debt in the Bloomberg Russia Local Sovereign Bond

Index, and the ruble relative to the dollar.


Credit-default swap rates on Russian bonds due in five

years appear in the bottom panel. The yield gap between Russian

debt and U.S. Treasuries and the one-month implied volatility of

the ruble are also tracked.


To contact the reporter on this story:

David Wilson in New York at

dwilson@bloomberg.net


To contact the editors responsible for this story:

Wojciech Moskwa at

wmoskwa@bloomberg.net

Chris Kirkham


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/




Markets are reacting in real time to
tension in Ukraine following Russia’s March incursion into
Crimea and subsequent annexation of the Black Sea peninsula.
The ruble weakened 1.4 percent to 42.2485 per dollar at
2:33 p.m. in Moscow, extending its decline since Feb. 28, the
day before P...

bussiness

Beijing heating up for grand conference

5:52 AM by Rifan MuazinNo comments

Full coverage:


APEC China 2014


APEC CEO summit will be held from Nov. 8 to 11, before Economic Leaders Meeting, and President Xi Jinping is expected to deliver a speech at the meeting.


At the press conference held on Oct. 30 in Beijing, Vice Chairman of CCPIT Yu Ping introduced the preliminary agenda for the summit.


Registration for the CEO summit has concluded. One hundred and thirty corporations out of the top Fortune 500 companies, covering sectors such as manufacturing, financial services, mining and information technology, are set to participate in this year’s meetings in Beijing.


The APEC CEO summit was officially incepted in 1996, and the event quickly became the most influential platform for pushing investment and cooperation in the Asia Pacific region.




Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/







Full coverage:

APEC China 2014





APEC CEO summit will be held from Nov. 8 to 11, before Economic Leaders Meeting, and President Xi Jinping is expected to deliver a speech at the meeting.At the press conference held...

world

Swiss Confirm Arrest of Three Iraqis for Suspected Support of Islamic State

5:52 AM by Rifan MuazinNo comments

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world

Burma to consider reform to allow Aung San Suu Kyi to be elected president

5:52 AM by Rifan MuazinNo comments


The NLD has focused on altering a provision that currently ensures the

military in the former junta-ruled nation has a veto on any amendment to the

previous charter.



To alter the constitution there needs to be support from a majority of over 75

percent of parliament.



The president and Ms Suu Kyi met on Friday to begin talks that are the first

of their kind in the nation as it moves to emerge from decades of outright

military rule.



The meeting in the capital Naypyidaw came a day after the White House said

Obama spoke to both politicians about the polls, less than a fortnight

before the US leader visits Burma.



Obama “underscored the need for an inclusive and credible process for

conducting the 2015 elections” during telephone talks with Mr Sein, the

White House said in a statement.




Aung San Suu Kyi shakes hand with Burma’s military commander-in-chief

Senior General Min Aung Hlaing (EPA)



Last week Burmese authorities announced the country’s landmark elections would

be held in the last week of October or the first week of November 2015.



The country’s last general election in 2010 was marred by widespread

accusations of cheating and were held without Ms Suu Kyi, who was kept under

lock and key until days after the vote, or her National League for Democracy

(NLD) party.



President Obama also spoke to Ms Suu Kyi about how Washington can “support

efforts to promote tolerance, respect for diversity, and a more inclusive

political environment”, the White House said Thursday.


Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/





The NLD has focused on altering a provision that currently ensures the
military in the former junta-ruled nation has a veto on any amendment to the
previous charter.


To alter the constitution there needs to be support from a majority of over 75
percent of parliament.


The...

world

Europe won't recognize vote in eastern Ukraine, Merkel tells Putin

5:52 AM by Rifan MuazinNo comments




BERLIN (Reuters) – German Chancellor Angela Merkel told Russian President Vladimir Putin on the phone that Sunday’s planned elections in eastern Ukraine were illegitimate and would not be recognized by European leaders, a Berlin government spokesman said on Friday.



Merkel and Putin held a joint telephone conversation with French President Francois Hollande and Ukrainian President Petro Poroshenko, Merkel’s spokesman Georg Streiter said at a government news conference.


He said in the call there were diverging opinions on Sunday’s “so-called elections” in the self-proclaimed people’s republics of Donetsk and Luhansk.


“Merkel and Hollande underlined that there can only be a ballot in line with Ukrainian law,” he said, adding that the vote would violate the Minsk agreement and further complicate efforts to find a solution to the crisis in eastern Ukraine.


“The German government will not recognize these illegitimate elections”, Merkel’s spokesman said, adding that European leaders were united on this issue and had agreed on this at a summit last week in Brussels.


However, all four leaders welcomed the latest agreement between Russia and Ukraine on gas supplies, the spokesman said. Everybody agreed that both sides should put an end to violence in eastern Ukraine and implement the agreed, but fragile ceasefire.


Over 3,700 people have been killed in fighting in eastern Ukraine, where pro-Moscow rebels seek union with Russia. A ceasefire has been in force since September but there have been isolated flareups of fighting.



(Reporting by Michael Nienaber; editing by Ralph Boulton)



Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/






BERLIN (Reuters) - German Chancellor Angela Merkel told Russian President Vladimir Putin on the phone that Sunday's planned elections in eastern Ukraine were illegitimate and would not be recognized by European leaders, a Berlin government spokesman said on Friday.
Merkel and Putin held a...

world

First lawsuit filed in Malaysia over MH370

5:52 AM by Rifan MuazinNo comments

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The family is also suing Malaysia’s government, civil aviation authorities, immigration department and air force for negligence.


“Our clients are after the truth. We have confidence in our judiciary system that this suit will be heard and dealt with fairly,” a statement by the family’s legal team said.


Chong said the family would seek damages but declined to specify a figure.


MH370 inexplicably disappeared on March 8 with 239 people aboard en route from Kuala Lumpur to Beijing in what remains one of history’s great aviation mysteries.


Malaysia’s government believes the flight diverted to the far southern Indian Ocean, citing sketchy satellite data, but no trace has been found despite an extensive search.


Neither the government nor airline has revealed any results from investigations launched in the aftermath of the tragedy, and consistently stresses that only recovery of the lost Boeing 777 aircraft will provide full answers.


Some next-of-kin bitterly accuse the government and airline of a bungled response and cover-up, charges that are strenuously denied.


Malaysia’s air force came under particular fire after top brass acknowledged military radar had tracked the red-eye flight as it doubled back over Malaysian airspace after diverting.


The air force took no action, saying the radar blip was not considered a security threat.


The chances of success for the lawsuit were not immediately clear.


Aviation experts say that under international law it is an airline’s responsibility to prove it was not to blame for an accident.


The lack of evidence could complicate that task for the carrier.


AFP 







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Article source: http://www.rte.ie/ten/news/2014/0920/645156-leonard-cohen-at-80-i-like-life-on-the-road/



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