TSX posts year's biggest jump on upbeat China data

By John Tilak

TORONTO (Reuters) - Canada's main stock index recorded its biggest one-day percentage jump in more than four months on Tuesday as positive economic data from China fueled hopes for a global economic recovery and drove gains in the material and energy sectors.

The sharpest reaction came from gold producers, which were buoyed by a rise in the price of bullion and jumped 3.4 percent.

China's annual consumer inflation cooled in March as food prices eased from nine-month highs and producer price deflation deepened.

The data further lifted other commodity prices such as oil and put the resource-heavy Toronto market, which is sensitive to developments in China, in positive territory for the second straight day after a five-day losing streak in which it lost 3.3 percent.

The benchmark Canadian index also turned positive on the year after slipping into negative territory last week.

"The news about China's inflation being subdued means the monetary policy out there will continue to be easy and the Chinese economy continues to do well," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

"Anything that gives us some indication that the Chinese economy is on solid footing should be positive for the TSX," he added.

The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> closed up 139.49 points, or 1.13 percent, at 12,484.05. That was the index's biggest one-day jump since November 19, 2012.

"This is a very welcome bounce in the TSX, but I'm not sure how long it will last," Picardo said.

He said seasonal volatility and profit-taking in May were likely to weigh on the market.

The benchmark Canadian index has badly lagged the rallies of its U.S. peers. Its 0.4 percent rise this year pales in comparison with an almost 10 percent jump in the S&P 500.

Nine of the 10 main sectors on the index were higher on Tuesday.

The materials sector, which includes mining stocks, advanced 2.4 percent.

Gold stocks, down 20 percent since the start of the year, provided support. Goldcorp Inc added 3.3 percent to C$32.97 and Barrick Gold Corp rose 1.5 percent to C$27.16.

Agrium Inc shares fell about 3 percent after the fertilizer maker said its entire slate of directors had been elected to its board, defeating a rival slate nominated by dissident U.S. shareholder Jana Partners.

Energy shares were up 2.4 percent as the price of oil made its biggest gain since late December. Suncor Energy Inc rose 3.1 percent to C$29.84 and played the biggest role of any single stock in leading the market higher.

Financials, the index's weightiest sector, gained 0.7 percent.

Source: http://news.yahoo.com/tsx-may-open-higher-chinese-data-u-earnings-122616582--sector.html

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US budget has NASA planning to capture an asteroid, USAF reviving DSCOVR (video)

Many have lamented the seeming decline of the US space program. While we're not expecting an immediate return to the halcyon days, the President's proposed federal budget for fiscal 2014 could see some renewed ambition. NASA's slice of the pie includes a plan that would improve detection of near-Earth asteroids, send a solar-powered robot ship (like the NASA concept above) to capture one of the space rocks and tow it back to a stable orbit near Earth, where researchers could study it up close. The agency would have humans setting foot on the asteroid by 2025, or even as soon as 2021. It's a grand goal to say the least, but we'd potentially learn more about solar propulsion and defenses against asteroid collisions.

If NASA's plans mostly involve the future, the US Air Force budget is looking into the past. It's setting aside $35 million for a long-discussed resurrection of the Deep Space Climate Observatory satellite, also known as DSCOVR -- a vehicle that was scuppered in 2001 due to cost overruns, among other factors. Run by NOAA once aloft, the modernized satellite would focus on warning the Earth about incoming solar winds. That's just one of the satellite's original missions, but the November 2014 launch target is relatively realistic -- and we'll need it when the satellite currently fulfilling the role is overdue for a replacement.

Filed under: Robots, Science

Comments

Via: Space.com

Source: NASA, AP (Yahoo)

Source: http://www.engadget.com/2013/04/10/2014-us-budget-has-nasa-capturing-an-asteroid/

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Pre-orders of keyboard BlackBerry start in Canada

TORONTO (AP) -- Research In Motion says a keyboard version of new the BlackBerry will be available in Canada in the coming weeks and that major carriers are announcing pre-orders.

RIM said in a statement on Tuesday that details on when the BlackBerry Q10 will be available in other markets will follow soon. Presales are already under way in the U.K.

Chief executive Thorsten Heins told The Associated Press last month that the keyboard version won't be released in the United States until late May or June because of carrier testing. That development could complicate RIM's turnaround efforts.

Even as the BlackBerry has fallen behind rivals in recent years, many BlackBerry users have stayed loyal because they prefer a physical keyboard over the touch screen.

Source: http://news.yahoo.com/pre-orders-keyboard-blackberry-start-133758434.html

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4 ways US can boost cyber security

The Obama administration has repeatedly and publicly named China as America?s principal cyber-espionage enemy, highlighting China?s aggressive economic cyberspying against American businesses and critical infrastructure. President Obama himself mentioned cybersecurity concerns during his congratulatory phone call with new Chinese President Xi Jinping.

Deciding to name and shame China openly is a significant step in US cybersecurity policy and has?international repercussions: It forces the two countries to address the issue publicly, and shines a spotlight on the cyberactivity of other countries, including the United States. This may increase pressure on governments and companies to act more forcefully against cyber-espionage attacks.

Of course, China is not the only country that has committed, or will commit, cyber-espionage. Indeed, China has accused the US of cyberattacks and recently described itself as a leading victim of hacking attacks. The full scope of international cyberattacks is hard to define because of the challenge of identifying who launched an attack, and the absence of a coordinated, global effort to find out who the hostile cyberactors are.

To navigate this new diplomatic landscape and successfully protect its own cybersecurity interests, the US needs a proactive cyber foreign policy that goes beyond naming and shaming. Here are four steps the US can take to bolster its diplomatic efforts to address cybersecurity threats.

- Emilian Papadopoulos, Eli Sugarman

US Ambassador to China Gary Locke speaks at the 6th US-China Internet Industry Forum in Beijing, April 9, where he said that China and the United States must cooperate on combating Internet theft. Op-ed contributors Emilian Papadopoulos and Eli Sugarman say 'the US needs a proactive cyber foreign policy that goes beyond naming and shaming [China].' (Jason Lee/Reuters)

1. Start where countries agree

International rules governing cybersecurity are unclear, particularly when it comes to cyber-espionage. That?s because technology is changing rapidly and countries disagree over principles on issues like privacy rights and Internet freedom. Countries are also unwilling to sacrifice their own right to act unilaterally in cyberspace.

One step to start holding countries accountable for cyberattacks is to solidify norms that are already implicitly agreed on. For example, it seems that countries, for the most part, have not hacked into each other?s financial institutions nor disrupted predominantly civilian critical infrastructure. The US should explore past norms in areas such as arms control to derive lessons for cybernorms.

Washington must also engage the private sector in this dialogue, even though some business interests have opposed the administration?s legislative efforts to improve cybersecurity standards.

The private sector owns and operates the majority of the critical infrastructure that the government wants to protect. US-based multinationals have a vested interest in secure, stable cyberspace and can be useful partners in advocating for norms internationally.

Emilian Papadopoulos is chief of staff at Good Harbor, a cyberrisk consulting firm. He previously worked at Canada?s Department of Foreign Affairs. Eli Sugarman is a Truman fellow and senior director of Gryphon Partners. He previously worked at the State Department.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/47ovjvrbQyk/4-ways-US-can-boost-cyber-security

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Louisville beats Michigan 82-76 for NCAA title

Michigan guard Trey Burke (3) walks off the court as confetti falls on Louisville players, including Russ Smith (2), Luke Hancock (11), Stephan Van Treese (44) and Zach Price (25), after the NCAA Final Four tournament college basketball championship game, Monday, April 8, 2013, in Atlanta. Louisville won 82-76. (AP Photo/Atlanta Journal-Constitution, Curtis Compton)

Michigan guard Trey Burke (3) walks off the court as confetti falls on Louisville players, including Russ Smith (2), Luke Hancock (11), Stephan Van Treese (44) and Zach Price (25), after the NCAA Final Four tournament college basketball championship game, Monday, April 8, 2013, in Atlanta. Louisville won 82-76. (AP Photo/Atlanta Journal-Constitution, Curtis Compton)

Louisville forward Chane Behanan (21) reacts after defeating Michigan after the second half of the NCAA Final Four tournament college basketball championship game Monday, April 8, 2013, in Atlanta. Louisville won 82-76. (AP Photo/David J. Phillip)

Louisville celebrates defeating Michigan to win the NCAA Division I National Championship on Monday, April 8, 2013, in Atlanta. Louisville beat Michigan 82-76. (AP Photo/Atlanta Journal Constitution, Curtis Compton)

Louisville guard/forward Luke Hancock (11) reacts to play against the Michigan during the first half of the NCAA Final Four tournament college basketball championship game Monday, April 8, 2013, in Atlanta. (AP Photo/Chris O'Meara)

Louisville head coach Rick Pitino celebrates after the team defeated Michigan 82-76 during the NCAA Final Four tournament college basketball championship game, Monday, April 8, 2013, in Atlanta. (AP Photo/David J. Phillip)

ATLANTA (AP) ? Rick Pitino held court in a tunnel beneath the Georgia Dome, going on and on about the grittiest bunch of guys he's ever coached.

One of them sat in the corner of the locker room, a net around his neck, grinning away.

The Louisville Cardinals vowed to finish the job for Kevin Ware.

Boy, did they ever.

With their injured teammate cheering them on from the bench, Louisville capped its run through the NCAA tournament, coming back again from a 12-point deficit to beat Michigan 82-76 in the championship game Monday night.

"These are my brothers," said Ware, still getting around on crutches after a horrific injury in the regional final. "They got the job done. I'm so proud of them, so proud of them."

Ware is just getting started on what could be a yearlong recovery from a broken right leg, but he's already got something no one can take away ? a championship.

They even lowered the goal so he could take a turn with the scissors, helping cut down the net that wound up around his neck.

"It meant the world to me," Ware said. "I don't really have any other words to describe how I feel right now."

Pitino knows how it feels to win a championship, having guided Kentucky to a crown in 1996. Now, working right down the road from Lexington, he became the first coach to win titles at different schools.

"This team is one of the most together, toughest and hard-nosed teams," he said. "Being down never bothers us. They just come back."

It was quite a capper to perhaps the best week of Pitino's life.

Earlier Monday, he was introduced as a member of the latest Hall of Fame class. On Saturday, his horse won the Santa Anita Derby to set up a run for the roses in the Kentucky Derby. And last week his son got the coaching job at Minnesota.

What's next?

His first tattoo, apparently.

Pitino vowed to get inked up if his players won the championship. They intend to hold him to that promise.

"I have a couple of ideas," said Luke Hancock, who became the first backup in tournament history to be designated as most outstanding player. "He doesn't know what he's getting into."

"Our biggest motivation," Peyton Siva added, "was to get coach a tattoo."

Not a bad week for Louisville, either. The school has a chance to make it two national titles in 24 hours when the surprising women's team faces Connecticut on Tuesday night in the championship game at New Orleans.

On the eve of their big game, the women got together with hundreds of fans in a hotel lobby to cheer on the men.

"It's a great time to be a Cardinal," coach Jeff Walz said.

A great time, indeed. Hancock produced another huge game off the bench, scoring 22 points, and the Cardinals (35-5) lived up to their billing as the top overall seed in the men's tournament.

They sure had to work for it, though.

Louisville trailed Wichita State by a dozen in the second half before rallying for a 72-68 victory. This time, they fell behind by 12 in the first half, then unleashed a stunning spurt led by Hancock that wiped out the entire deficit before the break.

"I had the 13 toughest guys I've ever coached," Pitino said. "I'm just amazed they could accomplish everything we put out there."

No one was tougher than Hancock, who matched his season high after a 20-point effort in the semifinal victory over Wichita State. This time, he came off the bench to hit four straight 3-pointers in the first half after Michigan got a boost from an even more unlikely player.

Freshman Spike Albrecht made four straight from beyond the arc, too, blowing by his career high before halftime with 17 points. Coming in, Albrecht was averaging 1.8 points a game and had not scored more than seven all season.

Albrecht didn't do much in the second half, but Hancock finished what he started for Louisville. He made it 5-for-5 from long range when he hit his final 3 from the corner with 3:27 remaining to give the Cardinals their biggest lead, 76-66. Michigan wouldn't go away, but Hancock wrapped it up by making two free throws with 29 seconds left.

While Pitino shrugged off any attempt to make this about him, there was no doubt the Cardinals wanted to win a title for Ware.

Watching again from his seat at the end of the Louisville bench, his battered right leg propped up on a chair, Ware smiled and slapped hands with his teammates as they celebrated in the closing seconds, the victory coming just 30 miles from where he played his high school ball.

Ware's awful injury will forever be linked to this tournament. Against Duke, he landed awkwardly, snapped his leg and was left writhing on the floor with the bone sticking through the skin. On this night, he hobbled gingerly onto the court with the aid of crutches, basking in a sea of confetti and streamers.

This one belonged to him as much as anyone on the court.

Siva added 18 points for the Cardinals, who closed the season on a 16-game winning streak, and Chane Behanan chipped in with 15 points and 12 rebounds as Louisville slowly but surely closed out the Wolverines (31-8).

Michigan was in the title game for the first time since the Fab Five lost the second of two straight championship games in 1993. Players from that team, including Chris Webber, cheered on the latest group of young stars.

But, like the Fab Five, national player of the year Trey Burke and a squad with three freshman starters came up short in the last game of the season.

"A lot of people didn't expect us to get this far," said Burke, who led the Wolverines with 24 points. "A lot of people didn't expect us to get past the second round. We fought. We fought up to this point, but Louisville was the better team today, and they're deserving of the win."

The first half, in particular, might have been the most entertaining 20 minutes of the entire men's tournament.

Burke started out on fire for Michigan, hitting his first three shots and scoring seven points to match his output from the semifinal victory over Syracuse, when he made only 1-of-8 shots.

Albrecht took control when Burke picked up his second foul and had to go to the bench for the rest of the half. The kid whose nickname comes from his first pair of baseball spikes showed he's a pretty good hoops player, knocking down one 3-pointer after another to send the Wolverines to a double-digit lead.

When Albrecht blew by Tim Henderson with a brilliant hesitation move, Michigan led 33-21 and Louisville was forced to call timeout. The freshman was mobbed on the Michigan bench, as if the Wolverines had already won the national title, with one teammate waving a towel in tribute.

Not so fast. Not against Louisville.

The Cardinals came back one more time.

"We needed a rally and we've been doing it for a couple of games straight, being down," Hancock said. "We just had to wait and make our run."

Burke, who played only six minutes in the first half because of the foul trouble, did his best to give Michigan its first championship since 1989. But he couldn't do it alone. Albrecht was held scoreless after the break, and no one else posted more than 12 points for the Wolverines.

Still, it was quite a run for a fourth-seeded team that knocked off No. 1-seeded Kansas with the greatest comeback of the tournament, rallying from 14 points down in the second half to beat the Jayhawks in the round of 16.

But they came up against the ultimate comeback team in the final, a group that was intent on keeping the title in the bluegrass state after Kentucky won it all last season.

Louisville had already pulled off a stunning rally in the Big East championship game ? down by 16 in the second half, they won by 17 ? and another against Wichita State.

"I've had a lot of really good teams over the years, and some emotional locker rooms, and that was the most emotional we've ever had," Michigan coach John Beilein said. "We feel bad about it. There are some things we could have done better and get a win, but at the same time, Louisville is a terrific basketball team."

No wonder Ware was grinning from ear to ear.

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-04-09-NCAA%20Championship%20Folo/id-d82e6c5a2fed4a04bc36a72e0b29e27d

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Happy 87th Birthday, Hugh Hefner!

Source: http://www.thehollywoodgossip.com/2013/04/happy-87th-birthday-hugh-hefner/

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Greece's NBG-Eurobank merger suspended, official says

By Lefteris Papadimas and George Georgiopoulos

ATHENS (Reuters) - National Bank's plan to absorb Eurobank to form Greece's biggest banking group will be suspended until both are recapitalised, and a state bank support fund will decide if the they should merge, a Finance Ministry official said on Sunday.

National acquired 84.3 percent of Eurobank via a share swap in February with a view to absorbing it as part of broader consolidation in the banking industry to cope with fallout from Greece's debt crisis and deep recession.

But the plan raised concerns at the lenders' "troika" - European Union, European Central Bank and International Monetary Fund - that a merger would form a bank too big relative to Greece's gross domestic product.

"The final decision on the merger will be taken by the Hellenic Financial Stability Fund (HFSF)," the official, who declined to be named, told reporters.

Together, the two banks need 15.6 billion euros in fresh capital to shore up their solvency ratios to levels set by the central bank after incurring losses from a sovereign debt writedown and impaired loans.

Under a recapitalisation scheme agreed with Greece's international lenders, most of the fresh capital will be provided by the HFSF, a state bank support fund, in exchange for new shares and contingent convertible bonds.

To stay private, banks must ensure that at least 10 percent of their share offerings is taken up by private investors.

"The two banks sent letters to the central bank saying it is unlikely they will be able to raise the 10 percent from the market," the official said.

This means that both banks will fall under the full control of the HFSF bailout fund.

The official also confirmed what two bankers had earlier told Reuters: that the two banks would be recapitalised separately.

After their recapitalisation, the HFSF will decide whether they will go ahead and integrate.

"I do not want to prejudge the HFSF's decision," the official said.

National's current stake in Eurobank will be severely diluted as a result of the recapitalisation and analysts expect the banks' shares to come under heavy selling pressure on Monday.

"The market was partly discounting such an outcome but did not expect decisions like the suspension of the merger to be taken so fast. I expect their shares to plunge on Monday," said Takis Zamanis, a chief trader at Athens-based Beta Securities.

(Reporting by Lefteris Papadimas; Editing by Kevin Liffey)

Source: http://news.yahoo.com/greeces-nbg-eurobank-merger-suspended-official-says-214430952--finance.html

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