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Archive for November, 2009

china-factory

NANJING, China (AFP) – Europe and China opened a summit Monday with Beijing backing fellow developing nations in pressing the rich world to take the lead on climate change, despite new EU appeals for Beijing to do more.

Ahead of a conference on global warming in Copenhagen, European Commission president Jose Manuel Barroso said he discussed China’s position over dinner Sunday with Chinese Premier Wen Jiabao.

“I certainly asked the Chinese and all our partners to explore the outer limits of their position,” the head of the European Union executive told reporters late Sunday.

Speaking at the meeting Swedish Prime Minister Fredrik Reinfeldt, who currently holds the rotating EU presidency, has said the problem of global climate change cannot be solved without Chinese leadership and responsibility.

“We cannot solve the climate challenge to mankind without China taking on leadership and responsibility,” Reinfeldt said after the summit.

“So far our belief is the global effort put on the table for mitigation is not enough… more needs to be done.”

Detailing its Copenhagen offer last week, Beijing said that by 2020, it would curb emissions per unit of gross domestic product by between 40 and 45 percent compared to 2005 levels.

The pledge was not to cut greenhouse gas emissions but was essentially a vow of greater energy efficiency that would see China’s fast-growing emissions continue to grow along with its economy.

And in a low-profile weekend meeting of developing nations in Beijing, participants reiterated the Chinese position that developed countries must shoulder the burden of carbon emissions cuts.

The official People’s Daily newspaper said the meeting included representatives from China, India, Brazil, South Africa and Sudan, which currently chairs the Group of 77 developing countries.

They agreed to ask “developed countries to assume responsibility for emissions reduction targets”, the report said.

World leaders will gather in Copenhagen for the December 7-18 United Nations conference tasked with framing a new deal for tackling global warming beyond 2012.

Leaders have warned that slow progress so far means the meeting is likely at best to yield a framework accord whose legally binding details would be hammered out next year.

The emerging economies meeting in Beijing also said the West should provide funds and technology to help poorer countries fight global warming, the People’s Daily report said.

And richer powers should consider the special needs of the least developed countries in the world, including small island states and African nations, it said.

Barroso said all sides needed to do more.

“Everyone has a good reason not to do more… but at the end if we just concentrate on the reasons not to do more, then we won’t succeed,” he said.

The EU has offered to cut its emissions by 20 percent by 2020 based on 1990 levels, and pledged to raise that to 30 percent if an ambitious international agreement can be reached.

The White House last week said US President Barack Obama would offer to cut carbon emissions by 17 percent by 2020, based on 2005 levels.

Barroso said negotiations on “percentages” were possible, “but we cannot negotiate with physics”.

“We cannot negotiate against the laws of nature,” he added, with scientists warning of irreversible global warming and planetary disaster without strong immediate action.

http://ca.news.yahoo.com/s/afp/091130/world/un_climate_warming_china_eu

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Beyonce’s Crazy In Love tops NME’s songs of the decade poll [VIDEO]

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Chrisette Michele “Blame It On Me” On The Late Show With David Letterman [LIVE PERFORMANCE]

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ETF Silver holdings reach record 453 million ounces

Posted by andrephang On November - 29 - 2009

silver_eagle_coin_mint_rolls-Picture

Silver prices could rise sharply, possibly testing $19.00 or $20.00, before retreating toward $18.25 later in the week. Strong support for silver prices is positioned at $17.50 — $17.75.

The roll in the New York market is currently underway, which is expected to support silver prices. Much of the roll has been made already, however. The primary factor behind the rise in silver prices has been investment demand, as investors are concerned that the nascent economic recovery could evaporate, and the U.S. economy could drop back into a new recession.
This, plus speculative buying, has investors and others adding to already large long positions on expectations of even higher prices yet this week, and over the next few months. Many investors are concerned about currency markets and the potential for a sharp drop in equity markets.

As of 25 November combined ETF silver holdings reached a fresh record of 453.0 million ounces, up 1.9% from 444.8 million ounces in the previous week. Fabricators have been buying silver even at such high prices as they foresee demand for silver in some sectors such as electronics, batteries, and solar power panels pick up sharply in the first half of 2010.

http://www.commodityonline.com/futures-trading/technical/ETF-Silver-holdings-reach-record-453-million-ounces-13070.html

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‘India can become gold trading hub’

Posted by andrephang On November - 29 - 2009

gold-main_Full
November 30th, 2009
By Our Correspondent , AP, Reuters

You’ve got to first find what you love, and then proceed to do what you love, believes Mr C. Vinod Hayagriv, the chairman of the All India Gems and Jewellery Trade Federation (GJF) and managing director of a 140-year-old family business in jewellery in Bengaluru, C. Krishniah Chetty & Sons, which he absolutely loves being a part of.

A commerce graduate from St Joseph’s College, Bengaluru, and an alumni member of the Gemological Institute of America, Mr Hayagriv’s ambition is to revolutionise the jewellery retail business in Bengaluru, India and South-East Asia and to popularise Indian jewellery around the globe.

As the chairman of GJF, Mr Hayagriv is working towards removing unethical trade practices from the jewellery business.

http://www.deccanchronicle.com/business/%E2%80%98india-can-become-gold-trading-hub%E2%80%99-741

Excerpts from an interview with Sangeetha Chengappa:

Do you think Dubai’s financial crisis will affect the gold market?
The Dubai debt crisis will have no impact on the gold prices. We at GJF had predicted one year ago that gold trading in Dubai will become a problem because there is much more gold trading happening in India and China, compared to Dubai. The government has signed an agreement with Asean countries to allow the transit of gold through these Asean countries at zero duties from 2012.
In order to prevent China from taking over as the centre of gold trading in the world from Dubai, we have also requested the government to immediately consider allowing gold imports at zero duties. importing scrap gold and setting up of refineries in India.

Where do you think gold prices are going? Will the price stabilise now that it hit Rs 18,000 per 10 gm?
The price of gold is $1,180 per ounce today (November 27). While I expect a correction in the gold price in the range of $30-$50 in the short term over the next seven to 10 days, I do not expect the gold price to fall below the $1,100 mark.
This is because, there is increased spend in infrastructure development activity all over the world, either in renewing existing infrastructure or building afresh. With capital expenditure increasing by the day, the amount of money required increases, for which currency has to be printed. The currency printed has to be backed by something solid, which is internationally tradable, transferable and is universally recognised; and gold is the only commodity that fits the bill. In short, the gap that exists between the intrinsic value of gold and the value of money (currencies) in the world has to be bridged, either by an increase in the price of gold or by the quantity of gold held by governments. That is why you see an increase in the price of gold.

How have Indian consumers reacted to rising gold prices?
There has been an overall reduction of around 30-35 per cent in gold consumption over the last 12 months. We saw a lull in sales in June, July and August 2009, when general confusion prevailed and consumers preferred to wait and watch for prices to stabilise and deferred purchases indefinitely. But, all that has changed now and consumers are back to jewellery stores buying only what they require most urgently, which is much less than what they bought earlier.

How has the rising price of gold impacted the jewellery business?
The value of gold, which has gone up by 35 per cent over the last few months, has more than made up for the overall fall in consumption. While the normal year-on-year growth in revenue for the jewellery trade hovers around five to seven per cent, it will be much higher this year, at 10-15 per cent compared to last year.

What would you advice our readers to do? Should they sell the gold they have and book a neat profit or should they invest more?
I would advice your readers not to sell but, to hold onto their gold. They should go ahead and buy as much gold as they need right now, without waiting indefinitely, expecting that prices will fall in the near future. Consumers should opt for a systematic investment plan (SIP) offered by most jewellery retailers, wherein, they commit to pay a fixed amount of money every month for 12-15 months. For instance, consumers can pay as little as Rs 1,000 a month and the equivalent quantity of gold that Rs 1,000 can buy will be blocked for them at that day’s gold price and so on; at the end of 12-15 months the consumer will have the satisfaction of averaging his cost of gold through the entire period.

What are consumer preferences these days?
We are witnessing a marked shift in preference for diamond jewellery in the last few years and the trend seems to be on the rise over the last 12 months with consumption of diamonds posting a 25 per cent rise. There is also an increasing demand for light-weight gold jewellery. The jeweller community is catering to consumer demand for light-weight, large looking jewellery, which hit the shelves this Diwali. While contemporary jewellery is in demand, the demand for traditional jewellery is much more sizeable and steady.

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AFRICA- Alicia Keys Changing Lives

Posted by andrephang On November - 28 - 2009

Alicia Keys Families Dealing With Aids & More IN AFRICA

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Mike Epps Clownin On Judge Joe Brown & Mathis

Posted by andrephang On November - 28 - 2009

Comedian Mike Epps Clownin On Judge Joe Brown & Mathis

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Stevie Wonder – Knocks Me Off My Feet

Posted by BLACK CEO On November - 27 - 2009

Stevie Wonder – Knocks Me Off My Feet [VIDEO/AUDIO]

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Beyonce: I Am Yours

Posted by andrephang On November - 27 - 2009

Beyonce: I Am Yours (Thanksgiving Day TV Special) [VIDEO 40 Min]

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dubai-skyline

Posted by(WoodlawnPost.com)
Peter Cooper picture Peter Cooper

Emerging stock markets around the world will undergo a risk reassessment after the news of a $59 billion debt payment suspension in Dubai, and a correction from current market highs looks inevitable. These overbought markets are very vulnerable to sudden shocks.

S&P told the Financial Times the Dubai decision ‘may be considered a default under our default criteria, and represents the failure of the Dubai government (not rated) to provide timely financial support to a core government-related entity.’
Eid holidays

Bond markets responded with credit spreads immediately widening. But Gulf stock markets are closed for the Eid religious holiday, and this will give the government time to clarify its intentions. Markets will likely tumble when they reopen.

The $59 billion debt mountain belongs to Dubai World whose assets range from the Jebel Ali Free Zone to the quoted ports operator DP World and Nakheel, the developer of three palm-shaped islands. Two palm islands lie abandoned as well as a map of the world formed from smaller reclaimed islands.

At the same time as the debt repayment suspension, the government appointed Deloitte’s Aidan Birkett as Chief Restructuring Officer to ‘oversee the restructuring process and ensure the continuity of Dubai World’s operations’. His report will be eagerly awaited by creditors who are very unhappy about the debt suspension.

Only a few weeks ago creditors were assured that the $3.5 billion Nakheel Islamic bond due in December would be repaid. Some speculators had bought the bond earlier this year at a massive discount in expectation of a huge profit that will not now transpire.

A statement said Mr Birkett ‘will start to assess and evaluate the extent of the restructuring required. As a first step, Dubai World intends to ask all providers of financing to Dubai World to “stand still” and extend maturities until at least May 30, 2010′.

But Dubai is not alone in its debt problems. Banks have been falling over themselves to lend money to emerging markets in recent years, and since the financial crisis there has even been a view that emerging markets carry less risk than developed countries.
Carry trade risk

The carry trade of borrowing in US dollars and investing in emerging markets for high returns is a liquidity bubble and an accident just waiting to happen. Perhaps the situation in Dubai should be regarded as a wake-up call.

Investor perception of stock market risk has just hit a five-year low in the United States. Any contrarian investor would have to conclude that such monstrous complacency could only come before a market crash, as indeed it did last autumn.

Shocks in emerging markets like Dubai are the flutter of butterfly wings that produce a hurricane elsewhere, and $59 billion is a bit more than a butterfly. Investors should exit all stock markets and buy bonds or precious metals or short emerging markets. Gold hit $1,195 as this article was written.

Disclosure: None

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SWEDISH BASKETBALL highlights

Posted by andrephang On November - 27 - 2009

Dragons-Plannja highlights [VIDEO]

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FOR IMMEDIATE RELEASE:

Posted by andrephang On November - 26 - 2009

model11

Adrian Mitchell

Adrian Mitchell  & Associates PR

313-923-8556
woodlawnpostcom@yahoo.ca

Allyson Steil and Dianne J. are among LOCAL MODELS and artists on global video website Dstyleproductions.com

DETROIT, MI/TORONTO/WINDSOR, ON/STOCKHOLM, SWEDEN–  D Style Productions – Home of www.dstyleproductions.com Entertainment company that offers a modeling agency, professional photography crew, music video production and direction, Theatre, commercials, athletic marketing, and much much more…..

The site wii soon have connected with viewers and models, fans and artists around the world including Detroit, Toronto, and European cities. The websites demand for new MODELS rises daily. Among its featured MODELS is Dianne and Allyson Steil.

D Style Productions CEO Allyson Steil said new additions are happening daily. Dstyleproductions.com is a platform where we give viewers what they want to see and the entertainment/modeling industry a platform to show its hottest stars on a global level, “ said Jai Style President Dianne, a Jamaica native. “Our models are very professional”.  Said CEO, Allyson Steil, a Alberta native. “Our photography and production crew is very professional also”.

As a part of its launch  Dstyleproductions.com will celebrate with a series of launch parties during the month of December January and February 2009-2010 in Windsor with live performances.

Dstyleproductions.com will also have models present, during a special performance by Pride/PM at Cobo Hall December 4th 2009. Information about the show is available at www.Link4Productions.com and/or www.WoodlawnPost.com

For more information visit Dstyleproductions.com HYPERLINK “http://www.Dstyleproductions.com ” www.Dstyleproductions.com  or contact Owner, Allyson Steil at 519-551-5462,  email  HYPERLINK “mailto:deestyle12@yahoo.com

WoodlawnPost.ning.com PRECIOUS METALS /MINING NEWS
WoodlawnPost.com BUSINESS/ENTERTAINMENT NEWS
WoodlawnPostTV.com ENTERTAINMENT

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HONG KONG- Asian shares skid on Dubai worries

Posted by BLACK CEO On November - 26 - 2009

dubai

By Umesh Desai

HONG KONG (Reuters) – Asian stocks slumped on Friday as the Dubai-debt shockwaves hit the region, shaking banking shares and pushing the yen to a fresh 14-year high against a struggling dollar as investors unwound risky trades.

The shock Dubai news raised investor fears of debt defaults that could hit other parts of the global economy just as it is trying to recovery from the global financial crisis.

Japan’s Nikkei average took its cue from a sharp fall in Europe to hit a four-month low, coming under additional pressure from weakness in exporters as the dollar fell against the yen.

The MSCI index of Asia Pacific stocks traded outside Japan dropped 2.5 percent, while the Thomson Reuters index of regional shares fell 0.63 percent.

Banking shares led the falls on concerns about exposure to the billions of dollars in Dubai debt. The MSCI index of banking shares in Asia Pacific outside Japan shed nearly 3 percent.

“Some of the tensions can spill over into those economies which are externally dependant for funding their investment plans,” said Binay Chandgothia, chief investment officer at Principal Global Investors in Hong Kong, a fund.

Dubai said on Wednesday it wanted creditors of state-owned Dubai World and its property subsidiary Nakheel, to agree to a debt standstill in a first step toward restructuring.

Dubai World, the conglomerate that spearheaded the emirate’s breakneck growth, had some $59 billion in liabilities as of August.

The Dubai announcement sparked immediate rating downgrades of several government-related entities and sent the cost of insuring against the emirate’s debt soaring and bond prices tumbling.

European shares had their worst daily percentage loss in seven months on Thursday and gold climbed to a record high of $1,194.90. The United States celebrated Thanksgiving holiday.

Chandgothia said some of the Asian falls could reflect investors locking in profit after a strong rally, which has lifted the MSCI Asia Pacific ex-Japan index by over 60 percent.

“Even those who came in late into the rally late have made decent money, so there would be a tendency to take risk off the table. Probably not a bad time to lock-in gains and let things settle down before taking the next step,” he said.

As investors unwound their exposure to riskier assets, the yen soared against the dollar to a fresh 14-year high and also traded stronger against higher-yielding currencies like the Australian dollar.

The yen’s rise has raised concerns it could hurt export earnings and push the Japanese economy back into recession. The Japan Iron and Steel Federation has already raised concerns with the yen’s elevated level against the dollar, saying it could impact the steel, auto, electronics and shipbuilding industries.

On Thursday, exporters like Honda Motor Co skidded, and Japan’s top bank Mitsubishi UFJ Financial Group slipped as financial shares were hurt by concerns about their exposure to Dubai’s debt.

The weighed on the Nikkei average, which fell as much as 2.2 percent to 9,180.47, its lowest level since July.

“Similar stories as this Dubai one are likely to continue to come out, leading risk money to pull out from assets such as commodities and stocks,” said Takahiko Murai, general manager of equities at Nozomi Securities.

Banking shares in other parts of the region also felt the brunt of the news — HSBC , whose London-traded shares lost 4.8 percent on Thursday, slumped 5.9 percent and Standard Chartered , which fell 6 percent in London, skidded 5.8 percent.

Although Dubai’s announcement was Wednesday, Asian markets were slower to react that those in other regions.

“Although there was talk of it before, there was uncertainty about the full impact,” Andrew Sullivan, a sales trader with broker MainFirst Securities in Hong Kong, adding that initially it was seen as a debt restructuring exercise before the default fears set in.

“Until the details became clear, people were not so worried about the downside. It is a delayed reaction because more information became available overnight,” he said.

Gold in Asia was hovering just below Thursday’s record high while oil prices stood just below $76 per barrel.

(Additional reporting by Aiko Hayashi in TOKYO; Editing by Neil Fullick)

http://ca.news.yahoo.com/s/reuters/091127/business/cbusiness_us_markets_global


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NEWS FLASH ENT. PRESENT -SLIM & DAN. GOTO

Posted by BLACK CEO On November - 26 - 2009

NEWS FLASH ENT. PRESENT -SLIM & DAN. GOTO (detroitcableconnection.us) to see custom page

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Stephen Smith Speaks On Allen Iverson Retiring From The NBA

Posted by andrephang On November - 26 - 2009

Stephen Smith Speaks On Allen Iverson Retiring From The NBA [VIDEO]

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Sri Lanka buys 10 tonnes of IMF gold

Posted by andrephang On November - 25 - 2009

Gold01
Another 10 tonnes of the IMF’s 403.3 tonnes of gold which have been up for sale has been acquired off market by Sri Lanka.

Posted by(WoodlawnPost.com) Wednesday 8:41PM Nov 25, 2009

WASHINGTON, Nov 25 (Reuters) – The International Monetary Fund said on Wednesday it had sold 10 tons of gold to the Central Bank of Sri Lanka, using Monday’s market prices for the transaction.

In a statement, the IMF said proceeds were equivalent to $375 million, adding the sale was part of 403.3 tons approved by its executive board in September 2009. The fund has already sold 202 tons of gold to the Reserve Bank of India and the Bank of Mauritius.

Media reports on Wednesday that India was open to buying more gold from the IMF helped push the price of gold to a record. Gold traded at $1,186.30 an ounce at 2 p.m. (1900 GMT) in New York.

The IMF declined to comment on the reports.

The sales are part of plans adopted last year to diversify the fund’s sources of income and to increase low-cost lending to poor countries by up to $17 billion through 2014.

The IMF reiterated it would inform markets before any on-market sales commence, and would report regularly to the public on progress with the gold sales. (Reporting by Lucia Mutikani; Editing by Kenneth Barry) ((lucia.mutikani@thomsonreuters.com: Tel 202 898 8315; Reuters messaging: lucia.mutikani.reuters.com@reuters.net))

© Thomson Reuters 2009 All rights reserved

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Mos Def, Dame Dash & Ski BeatZ in the Studio Creating Hip Hop Soul Track “Taxi” [VIDEO]

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Rihanna Performs Hard On Good Morning America

Posted by andrephang On November - 25 - 2009

Rihanna Performs Hard On Good Morning America [Front Row Crowd View Version] [VIDEO]

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Swedish Mens Dream Girl

Posted by andrephang
Sep-4-2010 I ADD COMMENTS

T.I. on Jimmy Kimmel Live

Posted by andrephang
Aug-20-2010 I ADD COMMENTS