Sunday, 25 August 2013

Discovery Channel defends dramatized shark special 'Megalodon'

Discovery Channel defends dramatized shark special 'Megalodon'


Watch this video

Did Discovery Channel jump the shark?

STORY HIGHLIGHTS
  • The Discovery Channel is facing criticism for a shark week special
  • It explored whether the prehistoric megalodon could still exist today
  • Disgruntled viewers poked fun at the show online
  • However, the special also brought in record ratings
 -- With all of the fake sharks flying around TV lately, some viewers wish the Discovery Channel would stick just to the facts.
On Sunday, the network kicked off its popular predator-infested extravaganza, Shark Week, with the premiere of a dramatized special that explores the existence of prehistoric sharks called megalodons.
Discovery billed the special, "Megalodon: The Monster Shark That Lives," as taking viewers "on a search for a massive killer great white shark responsible for a rash of fatalities off the coast of South Africa." Viewers were expecting to watch shark experts and scientists examine evidence that the massive creatures could still be swimming around somewhere.
The only problem is that, as National Geographic notes, the megalodon has been extinct for millions of years, and viewers have complained they weren't presented with any evidence to the contrary.
"Dear discovery channel, your fake documentary that you are trying to pass off as reality is upsetting," tweeted one viewer. "The director of blair witch just tweeted that the #megalodon show is the worst thing he has seen since the blair witch project," said another.
Hasselhoff's 'sharking' performance
CNN Explains: Shark attacks
David Shiffman, a doctoral student studying shark ecology and conservation at the University of Miami's Abess Center for Ecosystem Science and Policy, told Nat Geo that he wouldn't expect this kind of programming from Discovery.
"If this megalodon special had aired on the Syfy Channel, I probably would have loved it," he said. "But Discovery bills itself as the premier science education television station in the world, and they're perpetuating this utter nonsense."
The executive producer of Shark Week, Michael Sorensen, points out that Discovery aired three disclaimers for "Megalodon," including that "none of the institutions or agencies that appear in the film are affiliated with it in any way, nor have approved its contents."
Additionally, the network warned that "certain events and characters in this film have been dramatized," and that "legends of giant sharks persist all over the world; there is still debate about what they may be."
It seems the point of "Megalodon" was to raise questions more than present answers.
"With a whole week of Shark Week programming ahead of us, we wanted to explore the possibilities of Megalodon," Sorensen said. "It's one of the most debated shark discussions of all time, 'can Megalodon exist today?' It's (the) ultimate Shark Week fantasy. The stories have been out there for years and with 95 percent of the ocean unexplored, who really knows?"
It's clear that TV audiences are interested in finding out. The "Megalodon" show brought in record ratings for Discovery, with 4.8 million viewers tuning in. In the 26-year history of Shark Week, "Megalodon" is the highest-rated and most-watched Shark Week episode to date.

The Calling singer Alex Band says his abduction is not a hoax

The Calling singer Alex Band says his abduction is not a hoax


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The Calling singer: 'I was scared'

STORY HIGHLIGHTS
  • NEW: Alex Band: "I'll admit it, I was scared, and I was pleading for my life"
  • Singer suffered a fractured spine, 15 stitches to chin, broken teeth, bruises, spokesman says
  • The singer told police he was "assaulted, robbed and dropped off on another street"
  • News of the incident comes as the group announces a comeback after a decade
Los Angeles (CNN) -- The Calling's lead singer, Alex Band, told police he was abducted, beaten and robbed Sunday, just hours before his group announced a comeback effort.
Band suffered "a fractured lower spine, 15 stitches to lower chin, three broken teeth and is bruised on his side and stomach from the baton beating," his publicist said Monday.
The singer countered speculation that the attack was related to his drug use or a hoax.
"This just happened to me. I didn't kidnap myself, or beat the crap out of myself. So the whole hoax thing is honestly kind of disgusting to even think about, or hear," Band told CNN.
He told investigators he was walking down a street in downtown Lapeer, Michigan -- where his group had just performed at a music festival -- about 3 a.m. Sunday when two men forced him into a blue minivan, according to a police statement.
The Calling singer says he was abducted
"Alex was grabbed by his shirt and hit from behind and lost his footing," publicist Brad Taylor said. "He was beaten with a police baton with a gun pointed to his face demanding Band's 'Hollywood money.' After Band fought back, he was cornered in the van with gun to his face."
Band picked up the story from there.
"At this point, I was crying, I'll admit it, I was scared, and I was pleading for my life, but then it occurred to me. I was like, 'You know, I just found like a couple of weeks ago that I'm going to be a dad,'" he said.
The assailant responded, "It's your lucky day," Band said.
"He kicked me out of the car onto the train tracks, and that's when I hit the tracks and I fractured the bone in my lower spine, and I was unconscious and they left," said the singer.
According to his publicist, Band was left for dead at a local railroad track in Lapeer.
Earlier, Band issued a statement to CNN about the incident.
"I never thought my unborn child would be my savior," Band said. "I am grateful to be alive and I know that I am destined for bringing my music back to my fans."
The singer "reported being assaulted, robbed and dropped off on another street," according to Lapeer Police Sgt. Craig Gormley.
Another band member picked Band up and took him to the emergency room at McLaren Lapeer Region hospital, Gormley said. He was treated and released, he said.
Police, who interviewed Band at the hospital, are investigating, Gormley said.
Word of Band's alleged abduction hit online celebrity websites Monday morning at the same time entertainment reporters received an e-mail from a publicity firm announcing that The Calling is coming back "stronger than ever" after "fighting through trials and addictions."
The singer has "brought together a new band and has a fresh look on his past hits like 'Wherever You Will Go,'" the news release said.
Band "was at the height of music stardom in the early 2000s pop world but took a severe, almost death drop on a roller-coaster of a ride by almost dying from drug abuse combined with the struggle of personal relationships," the release said.
"Having a global hit was amazing, but due to my personal struggles and relationships, I was robbed of the enjoyment of being on the top of a musical high of a career," it quotes Band as saying. "I dropped everything to fight for my ailing wife, followed by a divorce, which equaled with a substance abuse problem that almost took my life. Coming out of my addiction with yet another struggle is something of a freedom. This second chance and has given me great fodder for our new music."
The rock/pop group is "in the midst of signing a major record deal and are setting up a global tour to bring forth their music to a worldwide fervent fan base," it said.    
"He is jumping back into finishing the record to help in the healing process and is resting for optimal healing," his spokesman said.
The comeback announcement would normally get little attention in the media, but coverage of Band's alleged abduction put The Calling back into the headlines.

Key players in Jackson wrongful death trial

Photos: Key players in Jackson wrongful death trial


Katherine Jackson: Michael's mother, 82, was deposed for nine hours over three days by AEG Live lawyers. As the guardian of her son's three children, she is a plaintiff in the wrongful death lawsuit against the company that promoted Michael Jackson's comeback concerts.

Ben Affleck to play Batman in next Superman movie

Ben Affleck to play Batman in next Superman movie


Lewis Wilson is famous for being the first actor to play Batman in live action in 1943's "Batman." He was the youngest and also the least successful of all the Batmen. Click through to see other actors who have played the Caped Crusader of Gotham City. Lewis Wilson is famous for being the first actor to play Batman in live action in 1943's "Batman." He was the youngest and also the least successful of all the Batmen. Click through to see other actors who have played the Caped Crusader of Gotham City.

  • It will be the sequel to Snyder's "Man of Steel" blockbuster
  • The studio plans a July 2015 release for the movie
  • Internet immediately responds, and not in a good way
(CNN) -- Holy backlash, Batman!
Warner Bros. announced Thursday that Ben Affleck will play Batman in the sequel to the Superman movie "Man of Steel."
Rumors about who'll star as the Caped Crusader in the yet-to-be-named film have been swirling ever since "Man of Steel" director Zack Snyder announced at Comic-Con last month that the two superheroes would appear together in the sequel -- their first pairing on the big screen.
Affleck's name wasn't even on The Hollywood Reporter's list of possible Batmans two weeks ago, when it speculated Ryan Gosling or Josh Brolin were likely candidates.
Is Ben Affleck a good 'Batman' choice?
Needless to say, the Internet went nuts -- and not in a good way.
Are the worries justified?
Affleck's stint as Daredevil was a major flop. Plus, he's just getting his movie street cred back from that other disaster, "Gigli." But he has numerous awards to his name and received critical raves for his role as Superman star George Reeves in "Hollywoodland."
Affleck will star opposite British actor Henry Cavill, who Warner Bros. said will reprise his role as Clark Kent and Superman.
Snyder's reimagining of Superman in "Man of Steel" broke the record for the biggest June opening when it appeared in theaters this year, taking in $125.1 million in its first weekend.
"It's beyond mythological to have Superman and our new Batman facing off, since they are the greatest superheroes in the world," Snyder said at Comic-Con.
Amy Adams, Laurence Fishburne and Diane Lane also return for the new film, Warner Bros. said.
Christian Bale, who starred as Batman in three film installments of "The Dark Knight," told CNN partner Entertainment Weekly last month that he wouldn't be starring in a fourth. "Dark Knight" director Christopher Nolan also said he wasn't opting for a fourth movie in the franchise, the magazine said.
Nolan will, however, have a hand in the upcoming Superman-Batman film -- he's serving as one of the executive producers, Warner Bros. said.
Warner Bros. and DC Comics, the publisher of "Superman" titles, are both units of Time Warner, CNN's parent company.

Friday, 9 August 2013

global markets shudder

When he speaks, global markets shudder

Ben Bernanke, chairman of the US Federal Reserve. (Alex Wong/Getty Images)
Ben Bernanke, chairman of the US Federal Reserve. (Alex Wong/Getty Images)
When US Federal Reserve chairman Ben Bernanke whispers, the world seems to hang on his every word. Stocks across the globe flinch if Bernanke so much as hints at a change to US monetary policy.
But stock market sage, prognosticator or saviour isn’t exactly the role of the Fed — or any central bank for that matter. So how, exactly, did the global economy reach the point that one person seems to hold so much power over markets — where even concern over what might possibly be said can send stocks in Asia into decline hours before Bernanke and his Fed colleagues have even hit the snooze button on their alarm clocks?
It wasn’t always this way. Sure, the US economy has long been a powerful force in the world economy — the adage that when America sneezes, Europe catches a cold has been around since the Wall Street Crash of 1929 when the stock market crash that occurred before the Great Depression drastically impacted Europe.
But, as business has become increasingly global, the way money moves around the world via bank lending and equity markets have also become much more highly intertwined. That was infinitely evident during the global financial crisis and the housing market collapse, which were felt acutely in the US before quickly spreading to economies and markets around the world.
“In recent times, markets have gone up and down together,” said Barry Bosworth, economist at the Brookings Institute. “Money flows across borders and interest rates move together. Trade and finance have converted a set of (separate) international economies to a global economy.”
The obsession that equity markets have with the Fed right now is irrational. — Aswath Damodaran
Never mind that the US Fed’s real mandate is simply to keep prices stable and unemployment low in the US. The US Fed controls the price of money, or inflation, by setting interest rates, essentially controlling the cost to borrow in the US. Interest rates, which also determine exchange rates, are integral to worldwide trade.
“The US economy is roughly 20% of the global economy — whatever happens in the US influences the global economy,” said David Joy, chief market strategist of Ameriprise Financial, Inc.
What, exactly, does the Fed do? How did it accidentally get into the stock market saviour business? And what’s next on the Fed whisper chain? Great questions.

The all-powerful easing
The Fed controls the money supply in the US, the same way the European Central Bank does in the eurozone.
The Fed sets short-term rates, but with that rate at a bottom of 0.25% since December 2008, the Fed has used quantitative easing to increase the money supply. In short, the Fed buys bonds or, more recently, mortgage-backed securities, in an effort to lower long-term rates. Low rates, in turn, encourage investors to buy riskier assets like stocks and that drives up asset prices.
When riskier assets, like equities, increase in value, investment portfolios get fatter. In turn, people feel better about the future. That “wealth effect” prompts consumers to spend, said Ryan Sweet, a director at Moody's Analytics.
Lower long-term rates also sparked the US housing market recovery. “The US housing market directly and indirectly affects over one-third of the US economy, so creating demand in the housing market has ‘big bang for the buck’ if you are a central banker,” wrote chartered financial analyst Jason Voss, content director at the CFA Institute, in an email.

Dangerous obsession?
What does all this focus on the Fed and interest rates have to do with stock market — in the US or abroad? It’s part mystery, part unhealthy obsession, say experts.
Fundamentals, like growth and risk, are what should drive corporate earnings and in turn, stock prices, said Aswath Damodaran, professor of finance at New York University’s Stern School of Business. But, you wouldn’t know it from the hair-trigger reaction that equities have to Bernanke and other Fed officials.
“The obsession that equity markets have with the Fed right now is irrational. (It) makes no sense — it’s misplaced and dangerous,” Damodaran said.
Nevertheless, markets across the globe have reacted to Bernanke’s words — even when they are vague. Just this week, concerns that the Fed would begin tapering its bond purchases later this year sent US stock futures down Wednesday before the market opened and also weighed on Asian markets.
Many experts say the Bernanke market jitters are silliness. First off, a rise in interest rates would signal the US economy doesn’t need as much handholding to keep growing. The Fed will eventually let the bonds and mortgage-backed securities purchased through three rounds of quantitative easing roll off its balance sheet — something it says it will do when unemployment and inflation are heading in the right direction. Some stock market observers say it’s the fear of this unwinding that has the market roiled when Bernanke speaks. But it will take time for the Fed to offload the securities it has purchased, said Sweet. At first, the Fed will simply buy less each month until it stops buying securities altogether. But it could take a decade for Fed to unwind its balance sheet.
Exactly when this tapering will begin is a bit of a mystery — and may be one reason markets are so sensitive to even the slightest whispers of change from Bernanke or other Federal Reserve officials.
Of course, the macro economy is complex and multilayered. That’s one reason it’s so hard to discern when small changes will create large ripples in the market or otherwise, said Damodaran.
“These days, there’s no big hedge except to be as diversified as possible,” Bosworth said. “It’s a trade off between the rate of return and risk.”

Wednesday, 7 August 2013

Dreamliner Grounding 'Cost Carrier ANA £53m'



Dreamliner Grounding 'Cost Carrier ANA £53m'

As All Nippon Air hits turbulence because of rising fuel prices, it reveals the grounding of its Boeing 787 fleet cost it £53m.

An ANA's Boeing Co's 787 Dreamliner plane receives restoration work at Okayama airport in Okayama, Japan

Japan's All Nippon Airways (ANA) has said the grounding of its Boeing Dreamliner fleet has cost it 8bn yen (£53m).
The announcement comes after the carrier made a second-quarter loss of 6.6bn yen (£44m).
It reversed a small year-earlier profit, despite a 4.4% rise in revenue to 358.3bn yen (£2.38bn).
"The primary reason for the increase in operating expenses was a rise in fuel costs due to the weakening of the yen," it said in a statement.
"Operating revenues were also held back by the suspension of Boeing 787 services for part of the period."
Fire trucks surround Japan Airlines Boeing 787 Dreamliner that caught fire at Logan International Airport in Boston
In early January a Japan Airlines (JAL) plane caught fire in Boston
ANA and domestic rival Japan Airlines, which reports its quarterly results Wednesday, were sideswiped by the grounding of Boeing's new aircraft that began in January.
After a long-running probe the planes were allowed to fly again in June.
The carriers at the time operated about half the Dreamliners in service and had to cancel hundreds of flights in the wake of the crisis, which was caused by problems with the plane's lithium battery.
The carrier and Japan Airlines have said they will seek compensation from Boeing having lost a combined total of more than 22.5bn yen (£149m) in revenue.
Damage to the Ethiopia Airlines Dreamliner.
The fire at Heathrow was suspected to have been caused by a beacon battery
"The impact of the problems was bigger than originally expected," Kei Yamamura, an aviation analyst with SMBC Friend Securities, said.
"But this factor will fade toward the end of the fiscal year as long as these issues don't come up again."
Although issues related to the auxiliary power supply lithium battery appear to have been resolved, emergency locator transmitters (ELT) used by Boeing now appear to be under scrutiny.
A fuselage fire on an Ethiopian Airways 787 at Heathrow airport on July 12 was pinpointed to the ELT manufactured by Honeywell.
The US Federal Aviation Administration advised on the emergency beacon wiring being checked.
Boeing has subsequently told airlines up to 1,200 aircraft across a range of models have the ELTs fitted.

Video Game Lets China Seize Islands From Japan

Video Game Lets China Seize Islands From Japan

A gamer plays Glorious MissionPlayers can shoot Japanese soldiers as they defend the disputed islands in a Chinese army training game released to the public.






Tuesday, 23 July 2013

The US Fords that Britain wants

The US Fords that Britain wants


Traditionally it has been. American drivers have looked on impotently as Ford has rolled out one brilliant European-market Focus RS after another. The Mk2 Escort’s brawny 2.5-litre turbo five cylinder engine would have devoured US roads, and cheaper fuel prices would have tempered the pain of its thirst, were it only sold in America.
UK family guys count their blessings  daily for the Focus ST Estate, and those with bigger families cheer for ST-engined S-Max – a hot minivan if ever there was one, and a car that will never be spotted idling outside a Gymboree in Atlanta.
Past Fords that did make it over the pond were almost uniformly awful. In the 1990s, the UK got the Probe. It wasn’t very good. Then came the Cougar, from Ford Motor’s now defunct Mercury division, and it, too, was not very good.
But as any tire-kicking Brit who pays attention to the global motor shows has noticed, the tables are turning. The increasingly brilliant One Ford initiative, whereby the Focus or Fiesta sold in Bloxham is the same as the one sold in Biloxi, means that UK enthusiasts can keep fingers crossed that some lovely North American-market Fords might become “globalised” and make their way over.
What might these be? The rectilinear Edge mid-size crossover has long been on Brits’ wish list. Kuga, marketed as the Escape in North America, is a hit in the UK, and the Edge could fill the next rung up, for those who need the space – not to mention the extra style.
And why stop there? The Explorer SUV would banish memories of the crude laggard sent to the UK in the 1990s. It was pulled well before the Firestone scandal damned it, and nobody cared. But the current one, with its smart styling, EcoBoost engine and expansive interior? Why, it’s the people’s Land Rover LR4.
Conventional large minivans have been falling off the radar in the UK, but something as standout as the seven-passenger Flex, priced right, would be a novel alternative to the seven-seat Galaxy so often used by posh cab firms in London.
Then we come to the Mustang. Ah, Mustang. Brits love the idea of it. Even non car buffs in Britain know what a Mustang is, that it’s something special. A few enterprising importers have been bringing latest-generation models over for years to appease the handful of enthusiasts willing to put their money where their mouth is – and to drive sitting on the left.
Were the coming 2015 Mustang available with the steering wheel on the right side and a more fuel-sipping 2-litre EcoBoost under the hood, the opportunity to buy an all-American but Europe-tailored icon would create buzz typically reserved for new BMW M3s and the like.
Britain doesn’t want all of it, mind. Trucks wouldn’t work on our roads – or with our fuel prices – and the cumbersome Expedition SUV would be disastrous in tight spots. But there is a lot to like about Ford’s US range at the moment. Alan R Mulally, Ford Motor’s maverick chief executive, should consider the transatlantic shopping list duly submitted. Delivery in 2015 would be great, thanks.

Justin Timberlake: The secret of his success

Justin Timberlake: The secret of his success


(Photo: Getty Images)
(Photo: Getty Images)
Teen pop idols tend to disappear when their fans grow up. So how did child star Justin Timberlake become one of America’s biggest stars? Greg Kot explains.
Justin Timberlake is only 32, but his CV is already stuffed with Grammy Awards, critical accolades and multi-platinum albums. His recent one, 20/20, his first studio release since 2006, is the year’s biggest-seller so far in the US, with a sequel on the way in September. In between, he’s squeezing in a few stadium concerts with his pal Jay-Z, as one half of Legends of the Summer, which is shaping up to be  one of the summer’s biggest tours.
But his most impressive accomplishment just might be that he hasn’t turned into Shaun Cassidy, Tiffany or any number of former teen idols. Nobody thinks of him as the former singer in N’Sync anymore, let alone a Mouseketeer.
For what might’ve been, check out 19-year-old Justin Bieber. “I’m an artist and I should be taken seriously,” Bieber complained at the Billboard Music Awards a few weeks ago. This from a guy who tried to smuggle his pet monkey across international borders. He appears to have entered the temper-tantrum stage of his kiddie-pop years, prompting many pundits to question whether he’ll have any kind of career left once he hits adulthood.
Such is the way for most pop idols who find fame around the same time they reach puberty. The usual lifespan for most is about three or four years, and then they become punch lines or has-beens. Each decade had a few who burned holes in the hearts of adolescents and then burned out when their audience grew up. The ‘60s packaged the Monkees and the Cowsills; the ‘70s served up Bobby Sherman, the Partridge Family andthe Osmonds,; for a brief time in the ‘80s, it was all about Debbie Gibson, Tiffany and New Kids on the Block; the ‘90s produced Britney Spears, the Backstreet Boys and N’Sync; and the 2000s brought the flourishing of the Disney/Nickelodeon franchise and the emergence of Lindsey Lohan, Hilary Duff and Miley Cyrus.
A cunning plan?
So how did Timberlake avoid tumbling from pin-up to afterthought like so many others before him? He had a sense of humour, for starters. Even as N’Sync was selling millions of albums to giddy pre-teens, he appeared to be in on the joke. A few seconds say it all in the video for one of the group’s biggest hits, Bye Bye Bye: the music stops and a curly-haired Timberlake lifts his head, smiles slyly, laughs and darts off. Who really knows if that’s Timberlake’s little take-the-money-and-run inside joke, but it sure plays that way in retrospect.
The turning point arrived with his 2002 solo debut, Justified. The energetic and surprisingly sophisticated mix of dance tunes and ballads, pop and soul, instantly cast him as an adult, and earned comparisons to the Off the Wall-era Michael Jackson, another teen star who grew into a substantial artist (at least until it all started to go horribly wrong in the ‘90s). Timberlake took his notoriety to a whole new level when he accidentally-but-not-really ripped Janet Jackson’s costume during the 2004 Super Bowl half-time, which gave the world the indelible phrase ‘wardrobe malfunction’. Even that bit of naughtiness couldn’t tarnish the singer’s likeability rating, though. He dutifully apologised at the Grammys a few weeks later and went home with two awards.
Hollywood beckons
A series of films followed and then a second solo album, FutureSex/LoveSounds, another leap in ambition with its suite-like songs. On tour, he presented himself not just as a piece of gyrating eye candy, but as a serious musician and band leader, a lithe, loose-limbed singer-songwriter fronting a 12-piece band.
Yet as his Hollywood profile ramped up, questions arose about whether Timberlake would ever make another album. The carefully orchestrated campaign to introduce 20/20 was his response. The music pushes even further than its predecessor, with seven songs clocking in at seven-plus minutes.
The album’s genre-busting sprawl is another example of Timberlake’s survival instinct. He’s surveyed the musical landscape and realises he can’t compete with Nicki Minaj or Katy Perry for sheer pop pizzazz. So instead he’s moved into a hybrid area, gliding through a series of Frank Ocean-like moves in the way he’s mixing and matching styles. It’s a bit of a stretch – too often 20/20 sounds unfocused, emotionally remote, a series of unnecessarily busy arrangements that convey ambition more than heart.
As resilient as Timberlake has been, he still has a way to go as an artist. When he appeared at the Grammys this year, wearing a tuxedo in a sepia-toned Cotton Club-style big-band setting, he looked fantastic, a suave retro-soul man for the 21st Century. But as this former teen idol surely realises, making sophisticated music for adults requires more of an investment than just looking good. Somehow, one senses Timberlake will figure it out. He usually does.
Greg Kot is the music critic at the Chicago Tribune. His work can be found here:
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Does digital currency have staying power?

Does digital currency have staying power?

Is Bitcoin merely a niche digital currency? (Sean Gallup/Getty Images)
Bitcoin is a form of electronic money that is not controlled by a person or institution.
Bitcoin has leapt onto the global stage with a bang — and a crash. The digital money has already plunged from a high of $260 in April to today’s value of about $92
Still, Bitcoins, used to purchase goods online or transfer money to other people, have steadily gained traction since they were invented in Japan in 2009. Germany has Bitcoin marketplaces where holders can exchange the currency. Designed to be a global currency, Bitcoin is also gaining popularity in countries like Argentina and Kenya, amid worries about local currency devaluation. Merchants, such as online dating site OkCupid, are slowly starting to accept the digital money for goods and services.
On Monday, Tyler and Cameron Winklevoss, known for their legal dispute with Facebook Inc’s Mark Zuckerberg over the origin of the social networking site, unveiled plans to offer shares of a Bitcoin trust — designed to operate like an exchange-traded fund — to the public. According to an initial public offering filing in the United States, the shares would allow investors to “gain exposure to Bitcoins with minimal credit risk.”
Despite the hoopla, Bitcoin is still a niche digital currency. It faces numerous challenges on the road to wide-spread acceptance, including volatile price spikes and daily volume surges that point to rampant speculation. Also hindering growth: even sophisticated financial thinkers have trouble understanding how it works.
So far, global adoption is still tiny. Less than 1% of the world’s population uses Bitcoin actively, according to estimates, though use is accelerating in the US and parts of Europe.
Bitcoins are so volatile that owners must either spend them immediately, before they lose value, or hold them as investments.
The next 24 months will be crucial to whether the currency will survive and grow, say some experts. Though venture capitalists and technology start-ups are rushing to solve concerns around Bitcoin, any significant expansion is still uncertain given recent market fluctuations. Long-term investors may walk away if volatility continues. Much more likely, Bitcoin may become one digital currency among many others coming to market.
“Even if Bitcoin doesn’t survive, cypto-currencies will,” said California-based Andreas Antonopoulos, who advises organisations on emerging technologies and trends.   
Origins
Bitcoin is a form of electronic money that is not controlled by a person or institution. New units are mined by programs that crack complex mathematical problems and release new blocks of coins, though release is limited to only 21 million virtual coins. Only 25 Bitcoins every 10 minutes can be created to control inflation. There are currently about 11.3 million in circulation.
The limited supply makes them like digital gold, said Charles Hoskinson, founder of the Bitcoin Education Project. To buy Bitcoin, most people go to Japan-based Mt.Gox, which accepts 17 currencies. Fees are less than .60%.  
Ease of use depends on where you live. Adoption is ramping up with small merchants in the US, Canada and parts of Europe, say experts. New trading platforms like Russia-based Bitc-e.com, which also accepts other alternative currencies like Webcreds.com, are even popping up.
France recently launched its Bitcoin Central exchange, too.
“Europe is a bit ahead of the US,” said Jonathan Waller, who runs a Bitcoin meet-up in Tokyo.
Uphill climb
Despite this frenzied activity, Bitcoin faces an uphill climb. Its greatest strength — sitting outside the global financial system — is also a weakness. Few retailers accept the currency, though more, like the San Francisco-based social news site Reddit and even US-based blogging platform Wordpress, are accepting it. Rigorous control of new Bitcoin makes expanding usage beyond a cult currency difficult.
The biggest challenge might be volatility. As little as $3 million injected into Mt.Gox can spike prices, say experts. In April, Bitcoin plummeted $130 in a day, from a high of $260.
 This volatility is catnip for speculators, who seek to profit from sudden price fluctuations.
Bitcoin’s main problem is that value is based on whatever the next guy will pay, said Brian Riley, a senior research analyst at the Boston-based research and advisory firm CEB TowerGroup.  “This makes them a speculative currency,” he said.
“Speculators are making a mess of Bitcoin,” said Antonopoulos. When traders jump in and out of the currency, it adds to volume spikes.
There are currently 182 global currencies, said Riley.
“Why do we need another one?” he said.
Bitcoins are so volatile that owners must either spend them immediately, before they lose value, or hold them as investments. Turning cash into Bitcoins can take days. Many people rely on cumbersome in-person Bitcoin exchanges facilitated by Bitcoin web sites such as localBitcoins.com, where people meet and exchange currency.
For these reasons, investors and consumers should not put more than 5% of their money into the currency, added Waller.
 “Bitcoins are one big monetary experiment,” said Hoskinson.
Easing concerns
There is a chance that these Bitcoin choke points will be solved by an influx of new technology. In the US, a flurry of well-known venture capitalists such as New York City tech wizard Fred Wilson, an early investor in Tumblr and Foursquare, are spearheading Bitcoin startups. The aim: developing better e-wallets, payment systems and even automatic teller machines (ATMs), where you can exchange cash for Bitcoin.
Dozens of startups in California’s Silicon Valley are also attacking Bitcoin distribution problems, said Antonopoulos.
“Lots of venture capitalists are pouring money into Bitcoin without understanding them,” he added.
History is rife with examples of early movers — Myspace is one — that ended up in technology graveyards due to stronger competitors, though. And currently, at least one dozen virtual currencies like litecoin and ripple are vying for a piece of the digital currency market.
These new currencies aren’t tough competitors, said Waller, though there’s still a real risk that Bitcoin won’t survive this onslaught.

Rio prepares for World Youth Day launch

Rio prepares for World Youth Day launch

Pilgrims gather on Copacabana Beach, Rio, for the launch of World Youth Day. 23 July 2013 
 
 World Youth Day is a series of events celebrating the Catholic faith
Hundreds of thousands of Roman Catholics have gathered at Copacabana Beach in the Brazilian city of Rio de Janeiro for the opening of the World Youth Day festival.
The highlight of the festival will be a visit on Thursday by Pope Francis.
The Pope arrived on Monday for his first trip abroad since becoming head of the Roman Catholic Church.
His visit is taking place under tight security, after weeks of protests against the government and corruption.
Tuesday's evening mass at Copacabana Beach will be led by Rio's Archbishop Orani Joao Tempesta.
He will welcome pilgrims to the five-day festival, which is expected to draw about 1.5 million people from around the world.

Pope's visit to Brazil - main events

Tuesday
  • No scheduled public events
Wednesday:
  • Visit to the Shrine of Our Lady of the Conception of Aparecida and to the St Francis of Assisi of the Providence of God Hospital in Rio
Thursday:
  • Visit to the Varginha community in Rio, welcoming ceremony at the World Youth Day on Copacabana
Friday:
  • Meeting with young prisoners and a Way of the Cross ceremony on Copacabana
Saturday:
  • Meeting with Brazil's leaders in Rio and a prayer vigil with young people
Sunday:
  • Holy Mass for the World Youth Day in Rio, farewell ceremony and departure for Rome
The Pope, who is from neighbouring Argentina, has no public events scheduled for Tuesday and was spending time at a private residence.
Correspondents say Brazil is reviewing security around the 76-year-old pontiff after he was mobbed by adoring crowds following his arrival in Brazil on Monday.
Many were able to stop the Pope's motorcade as it travelled through Rio and reach their hands inside his car's open window.
"The Pope's secretary told me he was terrified, but the Pope kept smiling," Vatican spokesman Federico Lombardi told reporters.
The Pope was officially welcomed at the state governor's palace by President Dilma Rousseff. However, police outside later fired tear gas to disperse people who were protesting against the government, but also against the cost of the papal visit.
On Wednesday the Pope will visit the Shrine of Our Lady of Aparecida in Sao Paulo state, where a homemade explosive device was discovered on Sunday.
The authorities said the device was "of low power" and nowhere near the area where the Pope and pilgrims will visit.
Mr Lombardi later insisted that the discovery was no cause for concern.
Youth from France, Venezuela and Canada in Brazil for World Youth Day ride a train to Corcovado mountain near Rio. 23 July 2013 Hundreds of thousands of young Roman Catholics are in Rio for World Youth Day celebrations

William and Kate present baby prince

William and Kate present baby prince

The Duke and Duchess of Cambridge have emerged from St Mary's Hospital in west London with their new baby son.
Walking out with their baby to cheers from well wishers, the Duchess said it was "a special time for any parent".
Prince William said they were "still working on a name".
The couple then went back inside the private Lindo Wing and placed their son in a car seat. A few minutes later they came outside again and the duke drove his family home to Kensington Palace.
Speaking to reporters, the couple both said the experience was "very emotional".
They appeared relaxed and smiled broadly in front of the world's media as they walked out on to steps of the hospital in front of a mass of photographers.
William later held his son and walked forward with his wife to speak to reporters.
He said: "He's got a good pair of lungs on him, that's for sure. He's a big boy, he's quite heavy. We are still working on a name so we will have that as soon as we can."
He added: "It's the first time we have seen him really so we are having a proper chance to catch up."
The Duchess, smiling as she held her son, said: "It's such a special time. I think any parent will know what this feeling feels like."
Speaking to the waiting crowd, Prince William said: "I'll remind him of his tardiness when he's a bit older.
"I know how long you've all been standing here so hopefully the hospital and you guys can all go back to normal now and we can go and look after him."
They also revealed William had done the first nappy change.

Sunday, 14 July 2013

Rihanna hooking up with Drake?

Rihanna hooking up with Drake?

Now that Rihanna and Chris Brown are done for good, new reports claim she's back with someone she dated briefly in the past... Drake. Below is how MediaTakeOut is reporting it...
MediaTakeOut.com confirmed this morning that Rihanna is back together with Drake. This is not a rumor - it is fact - confirmed by a person on Rihanna's tour. According to a snitch Drake has been spending time with Rihanna - flying around the world to secretly meet her.
Tells the insider, "Rihanna and Drake have history, and they really want to make this into a real relationship - so they're keeping this quiet. I think Rihanna's in love."
Read another report after the cut...




From The Daily Mail

Away from the stage Rihanna is said to have rekindled her romance with Canadian rapper Drake following her break-up with Chris Brown.
‘When she was dating Chris, he banned her from talking to Drake,’ a source told Look magazine.
‘She really missed him that time – yes, they went out years before but he was also a good friend to her – so calling him was one of the first things she did when she realised she was over Chris.

Lola Omotayo replies Tonto Dikeh

Lola Omotayo replies Tonto Dikeh

Lola doesn't need any introduction but just in case some of you don't know her, she's Peter Okoye's longtime girlfriend and mother of his kids...

Lady Gaga steps out in just her bra

Lady Gaga steps out in just her bra

The singer was photographed out and about in New York wearing only a tiny black lacy bra paired with a short black skirt and black boots.