Wednesday, August 3, 2011
Tuesday, August 2, 2011
Honda's quarterly profit plunges on disaster
TOKYO (AP) ? Honda's quarterly profit plunged nearly 90 percent after the quake in northeastern Japan disrupted production and sales, but the automaker raised full-year forecasts as its confidence in a recovery mounts.
Honda Motor Co. said Monday its April-June profit tumbled to 31.7 billion yen ($406 million) from 272.4 billion yen profit a year earlier. Japan's No. 3 automaker said it managed to remain in the black thanks to its growing motorcycle business.
Tokyo-based Honda, which makes the Odyssey minivan and Fit subcompact, now expects a 230 billion yen ($2.9 billion) profit for the fiscal year ending March 2012.
That is less than half of Honda's 534 billion yen profit in the previous fiscal year, but is better than the 195 billion yen ($2.5 billion) it forecast in June.
Honda also raised its annual sales projection to 8.7 trillion yen ($112 billion), down 3 percent from the previous year, but better than the 8.3 trillion yen ($106 billion) it expected in June.
The manufacturer expects to sell 3.435 million vehicles worldwide, some 135,000 more than it had given as its forecast in June. It sold 3.512 million vehicles the previous fiscal year.
Honda's motorcycle business is booming, and the automaker expects to sell 12.7 million motorcycles for the fiscal year through March 2012, up from 11.45 million the previous year. That's also better than its earlier forecast to sell 12.645 million motorcycles this fiscal year.
Production at all Japan's automakers was disrupted after parts suppliers were damaged in northeastern Japan.
But they are saying recovery is coming quicker than expected, and production levels are projected to return to normal later this year.
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Free information technology computer certification training ...
The preparation of the certification of computer information technology can extend to free from spending hundreds of dollars and can sometimes run into the thousands. Students in this field of expert knowledge and the repair of the desktop and laptops want the best reliable training for a certificate available for the cost that is lowest. Price is important but do not want to sacrifice the quality of education for teaching computer science.
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How to pass your certification examination relating to information technology? This is the question that all students should think about in order to develop a plan to conquer the computer? To get the training and skills about computers and IT data is good for knowledge. Receiving your examination training for certification will benefit you more with employers because they approve your certificate of qualification as a higher standard. Just having computer knowledge will not get you the job. Receiving a recognized certificate is vital and should be sought after because it can give you a high paying position.
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Monday, August 1, 2011
Obama unfurls deal to avert US default (AFP)
WASHINGTON (AFP) ? President Barack Obama announced an 11th-hour deal with Congress to avert an unprecedented default on US debt payments, which would have sown chaos across the global economy.
With just two days left before the United States would run short of cash, Obama and his Republican foes said after round-the-clock negotiations that they had reached a framework for more than $2.4 trillion in spending cuts.
"I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default, a default that would have had a devastating effect on our economy," Obama said.
"This process has been messy; it's taken far too long," Obama told a hastily convened evening press conference. "Nevertheless, ultimately, the leaders of both parties have found their way toward compromise."
But the package still needs approval from Congress, which could vote as early as Monday. Leaders of the Democratic-held Senate and Republican-led House of Representatives were working to rally polarized lawmakers.
"To pass this settlement, we'll need the support of Democrats and Republicans in both the House and Senate. There is no way either party -- in either chamber -- can do this alone," said Democratic Senate Majority Leader Harry Reid.
House Speaker John Boehner called the plan a remedy to avert "a job-killing national default that none of us wanted."
But the plan faces opposition both from the conservative "Tea Party" movement, which favors sweeping spending cuts, and liberal Democrats who want taxes on the wealthy before any thought of cutting social welfare programs.
As described by Obama and congressional leaders, the deal would raise the country's $14.3 trillion debt ceiling by at least $2.1 trillion. It would also make more than $2.4 trillion in spending cuts in two steps, including through a special new committee required to submit proposals by November 23.
Asian markets cheered the deal, with the dollar climbing against the yen, crude oil prices surging and share prices in Tokyo, Hong Kong and Sydney all enjoying sharp gains in early trade.
Japan -- the top holder of US debt after China -- praised the agreement, with Chief Cabinet Secretary Yukio Edano saying he expected it will "lead to the stabilization of markets."
Republicans crowed that the framework did not explicitly call for raising tax revenues -- at least in the first wave of deficit cuts -- despite Obama's repeated calls for increasing revenues from the rich and wealthy corporations.
The framework would also fulfill one of Obama's top goals: Giving cash-strapped Washington the ability to borrow by enough to avoid another politically fraught debt battle before he faces re-election in November 2012.
The package would cut military spending by at least $350 billion at a time that the United States is looking to exit Iraq and Afghanistan. A White House official hoped half of total cuts would come from defense, but leading Republicans have already cried foul.
Obama trumpeted that the cuts would bring annual domestic government spending to the lowest level in 60 years but promised they would not come so "abruptly" as to be a "drag" on the fragile US economy, still struggling with stalled growth and 9.2 percent unemployment in the wake of the 2008 meltdown.
But Representative Raul Grijalva, a fellow Democrat and co-chair of the Congressional Progressive Caucus, rejected the framework in a blistering statement declaring: "This deal is a cure as bad as the disease. I reject it."
Democratic House Minority Leader Nancy Pelosi, who planned to present the framework to her rank-and-file on Monday, said "we all agree that our nation cannot default" but gave Obama's announcement a chilly welcome.
"I look forward to reviewing the legislation with my caucus to see what level of support we can provide," said Pelosi, who lost her job as House speaker when the Republicans stomped to victory in November elections.
The New York Times was sharply critical in an editorial, saying that the deal was "a nearly complete capitulation to the hostage-taking demands of Republican extremists."
Tea Party lawmakers who triumphed in November have pushed for dramatic spending cuts and put strong pressure on Boehner. Tea Party favorite Representative Michele Bachmann quickly voiced opposition to the package.
"The 'deal' he announced spends too much and doesn't cut enough," Bachmann, a Republican presidential candidate, said of Obama. "Someone has to say no. I will."
It was unclear whether the accord would be enough to placate ratings agencies that have warned Washington's sterling Triple-A debt rating was in jeopardy -- a downgrade that would lead to a painful spike in interest rates.
Leading asset manager BlackRock said in a statement it was "encouraged by momentum to raise US debt ceiling, but believes investors need to see real deficit reduction without delay."
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England take commanding lead of India Test (AFP)
NOTTINGHAM (AFP) ? England century-maker Ian Bell admitted he had been "naive" after a bizarre mix-up still ended with him leading his side into a commanding position against India in the second Test.
England, in their second innings, were 441 for six at the close of the third day at Trent Bridge on Sunday, giving them a lead of 374 runs.
Bell made a superb 159, but only after being run out when on 137 off the last ball before tea.
Having completed three runs with Eoin Morgan following a misfield by Praveen Kumar, he sprinted off the field believing the ball had gone for four and was consequently 'dead'.
In fact it was still 'live and, after calling in the third umpire, the on-field officials gave a stunned Bell out.
England coach Andy Flower and captain Andrew Strauss went to the visitors' dressing room at tea to ask India, whose coach is ex-England supremo Duncan Fletcher, if they wanted the appeal to stand.
And minutes later India withdrew their appeal.
Umpires Marais Erasmus of South Africa and Pakistan's Asad Rauf emerged after tea to boos from spectators, unaware the decision had been reversed, as did India before the jeers became cheers when Bell resumed his innings.
Although Bell made only 22 more runs following the reversal of a decision which was quite correct, he added an additional 69 with Morgan in what turned out to be a fourth wicket partnership of 104.
Bell's eventual 159 included 24 fours and was made in nearly five-and-a-half hours at the crease.
He was finally out when his cut off part-time left-arm spinner Yuvraj Singh was caught by Venkatsai Laxman at slip.
"I was a bit naive to automatically walk off and assume the ball had gone for four," Bell admitted after stumps. "I think the right thing's happened for the spirit of the game.
He added: "Morgan hit it off his legs and we thought it was probably four, with the way the fielder reacted after he got up.
"I put my bat down after the third and it looked like we were just meandering off for tea.
"I had to wait and the decision was made, (then) the captains and coaches met to see if the decision was going to stand or if they wanted to change it.
"I was in the back room trying to figure out what had happened and whether I was going back into the middle. The umpires had walked out, there were a few of us with pads on and the message got passed on to me."
India star Rahul Dravid said skipper Mahendra Singh Dhoni had led a team decision to withdraw the appeal.
"Under the rules he was out, but there was not a nice feeling in the dressing room," said Dravid.
"We knew it was not in the spirit of the game. There was unanimity that we should reinstate Ian. The team was led beautifully by Dhoni."
Left-hander Morgan went to a 60-ball fifty, featuring seven fours, with a straight six against off-spinner Harbhajan Singh before he was one of two wickets that fell to Praveen Kumar with the new ball.
However, wicketkeeper Matt Prior again proved a thorn in India's side with the bat, hooking fast bowler Shanthakumaran Sreesanth for six on his way to an unbeaten 64.
He received excellent support from Tim Bresnan, 47 not out, in an unbroken seventh-wicket stand of 102.
Bell, 84 not out at lunch and scoring briskly, went to 98 with a fluent cover-driven four off Kumar.
Then a leg-glanced two off Sreesanth saw the 29-year-old Bell to his 15th hundred in 67 Tests and fourth this year.
England scored 417 runs in the day after resuming on 24 for one, still 43 behind despite Stuart Broad taking a hat-trick on Saturday on his way to Test-best figures of six for 46 on his Nottinghamshire home ground.
India's first innings of 288 also saw Dravid make 117 -- his 34th Test century and second in as many matches after his 103 not out during England's 196-run first Test win at Lord's.
England will replace India at the top of the ICC's Test Championship table if they win this four-match series 2-0 or better.
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