-
China Sept power output sustains double-digit growth
On a daily basis, September output, at 12.87 billion kWh, was lower than the previous three months when summer heat drove monthly generation above 13 billion kWh.The Statistics Bureau did not indicate generation by source in the release.National hydropower output in September fell 24.5 percent from a year earlier to 56.87 billion kWh, while water stocks used by key hydro stations declined 18.5 percent to 104.9 billion cubic metres at the end of last month, the National Development and Reform Commission said. -
Adidas faces basketball hit as NBA dispute drags on
* Fashion status seen protecting sales of basketball footwearBy Victoria BryanFRANKFURT, Oct 14 (Reuters) - With the first two weeks of the U.S. basketball season cancelled and more games under threat, German sporting goods maker Adidas faces losing half its licensed NBA apparel sales, analysts estimate.Games that have been dropped from the 2011/12 season, due to start on Nov. 1, include defending champions Dallas Mavericks at home to the Chicago Bulls.National Basketball Association (NBA) players and owners said on Wednesday they would enlist a mediator in the dispute over collective bargaining.Basketball is a lucrative business in the United States for the world’s top two sporting goods makers, Nike and Adidas, and for retailers such as Finish Line and Footlocker .Canaccord analyst Camilo Lyon estimates basketball comprises about 30 percent of Footlocker sales and 20 percent for Finish Line.Adidas stands to be worst hit from the “lockout” because it has held the licence to provide NBA uniforms and apparel since 2006.The German group makes some $100 million in sales from licensed NBA products, with basketball products as a whole, including footwear, among its top five sporting categories.Matt Powell, analyst at SportsOneSource, told Reuters licensed apparel sales could halve, similar to the last lockout in the 1998/99 season, if the season were cancelled.”Overall, sales of NBA licensed products fell by 20 percent last week, and I view that as the beginning of the fall because of the lockout,” he said.Others say it is important for the season to start up before Christmas, not only because it’s the busiest time for the retail world but because NBA products become less in demand as the season goes on.”In terms of licensed apparel, fans tend to buy jerseys near the beginning of the season,” U.S.-based Euromonitor analyst Kailing Cai told Reuters.Adidas said it was less concerned about the expected drop in apparel and more interested in footwear sales, which make up the bigger part of the basketball market.”The kids are still buying the shoes,” Chief Executive Herbert Hainer said.Analysts say sales of basketball shoes will be helped by ever-present advertising, especially on social media websites, and moves by companies to get their products noticed at a local level, such as via college basketball.”I can’t imagine the lockout will impact Jordan sales in any way at all,” said Powell, referring to the Nike brand based around former Chicago Bulls player Michael Jordan that makes some $1 billion in sales annually.Cai also highlighted the fashion status of the footwear.”People wear basketball shoes out on the street every day. They’re not an item that people associate with actually playing basketball,” she said. -
TEXT-Fitch lowers UK support rtng floors; cuts Lloyds, RBS to ‘A’
The revision of the SRFs reflects Fitch’s view that support dynamics are changing in the UK. The banking system is not only large relative to the UK economy, but there is also more advanced political will to reduce the implicit support for the country’s banks, building on The Banking Act 2009 and, more recently the various policy recommendations of the Independent Commission on Banking (ICB). Although Fitch has affirmed the ‘1’ Support Ratings of the largest UK banks, indicating that support for these banks is likely to remain high until elements of the UK banking sector complete their rehabilitation and some of the more practical aspects of bank resolution can be implemented, the lower SRF indicates that the potential for the provision of extraordinary support for senior bank creditors is relatively less certain than before. Most smaller UK banks and building societies already have the lowest Support Ratings of ‘5’, reflecting Fitch’s opinion that support for senior creditors cannot be relied upon.The downgrades of LBG and RBSG reflect the revision of their SRF as their current VRs are below that (both at ‘bbb’). Both of these banking groups have shown steady improvement in their risk profiles and prospects over the past two years and, assuming there is no major fallout from the euro zone crisis, for example, ought to be able to achieve higher VRs over the medium- and long-term. Fitch preserved a one notch difference between RBSG’s Long-term IDR and its major subsidiaries in the US and Ireland but equalised the short-term IDRs of these entities with that of the group to reflect its expectation that the support will remain stronger in the short-term.Barclays IDRs and VRs reflect the group’s strong UK franchise, broad business mix, robust profitability, solid liquidity and sophisticated risk management. They also consider the earnings and risk volatility in its investment banking division, Barclays Capital (BarCap). The RWN on Barclays IDRs and VRs reflects Fitch’s view that global trading and universal banks have business models that are particularly sensitive to market sentiment and confidence, that are complex and exposed to greater volatility. They will be resolved in a reasonably short timeframe.With the exception of Barclays, where Fitch’s rating actions are taken in light of the agency’s full criteria, all other rating actions have considered only the parts of the criteria that deal with support.In Fitch’s rating framework, a bank’s intrinsic creditworthiness is reflected in its Viability Rating, while the potential for extraordinary sovereign support is reflected in its Support Rating Floor. Its IDR is the higher of the two.For additional perspective see the report ‘Rating Banks in a Changing World’ which will shortly be available on www.fitchratings.com. -
California may see changes to pricey water bond
* Lawmakers mull cutting measure’s size, other optionsBy Jim ChristieSAN FRANCISCO, Oct 12 (Reuters) - Concerned about voter angst over California’s finances, lawmakers say they may need to overhaul a ballot measure that would provide $11.1 billion for a slew of long-awaited water projects.Lawmakers from both parties say the water projects are urgently needed, but the proposed bond measure’s price tag may make it a non-starter with voters at a time when the state is facing ongoing budget woes.California is prone to drought, and the state’s aging system of reservoirs and aqueducts that distributes water to both urban and agricultural users needs a number of upgrades.But voters outside of the state’s agricultural centers are not particularly concerned about water, and lawmakers sense they may reject a massive bond that would add to the state’s debt burden.California already devotes 7.8 percent of its general fund to debt service, according to the state treasurer’s office. Any further increase in the debt burden would put added pressure on schools, universities and other public services that have already seen their budgets slashed dramatically.”There’s a growing concern that a water bond of this size is a very tough sell,” said Joe Simitian, a Democratic state Senator.Republican Assemblyman Kevin Jeffries agrees: “Now we have a water bond that is so large that I think it’s going to be very difficult for the public to support it.”SOMETHING FOR EVERYBODYThat the measure, which Democratic Governor Jerry Brown has also indicated is too pricey, is being put to voters is a political miracle by California standards.It came together in 2009 under former Republican Governor Arnold Schwarzenegger and combines priorities of water policy warriors at environmental groups, farm groups and water districts that typically fight each other through allies in the state’s notoriously fractious legislature.The measure, which required a two-thirds vote of the Democrat-led legislature, would authorize the sale of general obligation bonds to raise proceeds for a variety of projects.They include conservation and recycling projects and work in the Sacramento-San Joaquin River Delta, which stores much of California’s fresh water. Diversion of water from the Delta has been a hotly contested issue for years, due in part to damage it does to salmon and other fish.The measure would also provide for groundwater, watershed, drought relief and drinking water projects along with surface storage projects — the last a code name for dams that are fiercely opposed by environmentalists.Major changes to the measure, which was dropped from last November’s ballot in favor of next year’s general election ballot, would be tricky given its delicate balance of interests.”It would be a real challenge to achieve consensus,” said Jeffries, a former board member at two water districts in Southern California. “It would just turn it into an incredibly heavy lift.”RAIN BRINGS POLITICAL RISKJeffries instead proposes lawmakers cut allocations to each of the measure’s projects by 25 percent to reduce its size.Some lawmakers may, however, look for a broader rewrite of the measure.”I understand the appeal simplicity has but that would suggest that everything in the bond is of equal importance, and that’s just not the case,” Simitian said.Simitian proposes reducing the measure’s size and crafting separate legislation providing for revenue bonds for projects that are not central to statewide water needs.Another option is to push the measure to the 2014 ballot. But that carries a financial risk if interest rates rise.”Borrowing rates are at historic lows. Waiting could cost the state a lot more,” said Assemblyman Mike Gatto, a Democrat.Waiting may also increase political risk for the measure, which was crafted during a drought. Wet winter weather has returned in force to California and if it persists voters may simply tune out appeals for long-term water projects.”Water infrastructure isn’t something that they think about day to day,” said Charley Wilson, chairman of the Southern California Water Committee, an advocacy group for increased investment in water projects. “People do perhaps take it for granted.”
Likes
-
Allok 3GP PSP MP4 iPod Video Converter 6,, 2.0603 NEWEST(M_G keygen#Title:Allok 3GP PSP MP4 iPod...
-
that bottom one though…
-
seanr asked: Hey, in your post http://drewvigal.tumblr.com/post/512171217/the-0-69-ipad-stand you say you were replacing the iPad keyboard dock. Can I ask why you are replacing it? What is wrong with it?
There’s nothing wrong with it, per se. I prefer writing in landscape mode. Or even just the...
-
Setting up XLD for perfect CD ripping and making mp3s for your ipod
1. Download XLD...
-
