Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Supergiant Star Betelgeuse to Crash Into Cosmic ‘Wall’






The red supergiant star Betelgeuse in the famed constellation Orion is on a collision course with a strange wall of interstellar dust, with the clock ticking down to a cataclysmic cosmic smashup in 5,000 years, scientists say.


A new image of Betelgeuse by the European Space Agency’s infrared Herschel space observatory, shows that the star will crash headlong into a trail of space dust while speeding through its part of the cosmos at a blistering 18.6 miles (30 kilometers) per second. That’s about 66,960 mph (107,761 kph).






Betelgeuse is a giant star that makes up the left shoulder of the Orion constellation and can easily be seen from Earth with the unaided eye by observers in the Northern Hemisphere. The star appears as a reddish-orange light above and to the left of Orion’s belt.


The new Herschel observatory image shows Betelgeuse as a bright disk surrounded by a shield-like arc of gas as it approaches an odd bar-like wall of dust.


The curved “shield” formations to the left of the star are actually structures shaped by Betelgeuse’s solar wind — the charged particles each star emits and blows out into the galaxy, ESA officials said. But the wall of dust the star will crash into may be anything, from a filament linked to the galaxy’s magnetic field to a stellar cloud. Scientists do not think the dust wall is part of the Betelgeuse star structure.


After the first bow of solar wind hits the line of dust in 5,000 years, Betelgeuse itself should run into the bar 12,500 years after that.


Betelgeuse is about 100,000 times brighter than the sun and 1,000 times larger. If Betelgeuse was at the center of the Earth’s solar system, it would extend out to the orbit of Jupiter, astronomers have said. In about 1 million years, when the star uses up its nuclear fuel, Betelgeuse will shed the last of its layers in a bright and violent explosion known as a supernova.


The Herschel space observatory launched 2009 to study the formation of galaxies and how stars interact with its surroundings.


Follow Miriam Kramer on Twitter @mirikramer or SPACE.com @Spacedotcom. We’re also on Facebook & Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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S&P 500 eyes best winning streak in eight years


NEW YORK (Reuters) - Stock futures climbed on Friday and the S&P 500 was poised for an eighth day of gains, its longest winning streak in eight years, buoyed by rosy earnings from Procter & Gamble amid a backdrop of sturdy corporate results.


The equity market was also boosted by agreement in Washington to extend the government's borrowing power through mid-May, encouraging signs of recovery in the global economy, solid corporate earnings, and seasonal inflows into stocks.


Those factors helped the S&P 500 rally for a seventh day on Thursday to a five-year peak. Still, the index struggled to climb convincingly above 1,500, a level it surpassed briefly Thursday for the first time since December 2007.


"We are seeing a very broad-based rally and the ingredients are still in place" for gains to continue, said Steve Goldman, principal at Goldman Management in Short Hills, New Jersey. "This is the lift-off phase and it's still significant."


Procter & Gamble , the world's top household products maker, said quarterly profit soared past expectations and raised its sales and earnings outlook for the fiscal year. Shares were up 2.1 pct at $71.88 in premarket trading.


S&P 500 futures rose 3.6 point and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 32 points and Nasdaq 100 futures rose 9.75 points.


If the S&P 500 rises for an eighth day, it will be its longest winning streak since late 2004, when it enjoyed a nine-day run.


Pointing to a rotation out of bonds, U.S. 30-year Treasury bonds traded more than a point lower in price on Friday, with yields touching session highs at 3.10 percent.


"You have had more confidence from fund managers to provide more allocations to equity markets," which looked more attractive than bonds or cash, said Rick Meckler, president of investment firm LibertyView Capital Management.


Recent company earnings have been encouraging. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings so far, 66.9 percent exceeded expectations, more than the 65 percent average over the past four quarters.


Microsoft Corp reported lower quarterly profit on Thursday as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company's shares down 0.8 percent in premarket trading.


Apple stepped up audits of working conditions at major suppliers last year, discovering multiple cases of underage workers, discrimination and wage problems. The shares, which fell 12 percent Thursday after disappointing earnings, edged up 0.5 percent to $452.90.


German business morale improved for a third consecutive month in January to its highest in more than half a year, providing further evidence that growth in Europe's largest economy was gathering speed after contracting late last year.


Echoing a more positive tone in Europe, ECB President Mario Draghi said on Friday he expects the euro zone economy to recover later this year, and that financial market improvements had not yet trickled into the general economy.


(Editing by Bernadette Baum)



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Apple revenue miss to challenge stocks rally


NEW YORK (Reuters) - The S&P 500 and the Nasdaq were set to fall Thursday as Apple slid nearly 10 percent following a revenue miss, and analysts said equities may be due for a pullback after a six-day rally.


Apple Inc missed Wall Street's revenue forecast for a third straight quarter after iPhone sales came in below expectations, fanning fears its dominance of consumer electronics is slipping. The shares dropped 9.8 percent to $463.84 in premarket trading, wiping out about $50 billion of its market value.


However, some positive economic news looked set to put a floor under stock prices. Growth in Chinese manufacturing accelerated to a two-year high this month and a buoyant Germany took the euro zone economy a step closer to recovery, business surveys showed on Thursday.


That chimed with positive U.S. data, showing the number of Americans filing new claims for unemployment benefits unexpectedly fell to its lowest since the early days of the 2007-09 recession, a hopeful sign for the sluggish labor market.


With signs the economy is improving and futures indicating only slight losses in the S&P 500 after the open, some investors are lauding the strength of the stock market rather than calling an end to the rally.


"The market has disconnected itself with Apple," said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire. "I think it shows great strength in the overall S&P."


The S&P 500 rose for a sixth day on Wednesday following stronger-than-expected results from IBM and Google . But Apple could now halt that rally, which had lifted stocks to five-year highs.


On Thursday, S&P 500 futures fell 1.5 point and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 10 points and Nasdaq 100 futures fell 38.50 points.


Netflix Inc surprised Wall Street Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the U.S. and abroad. Shares jumped nearly 40 percent in premarket trading.


Apple's disappointing results drew a round of price-target cuts from brokerages. At least 14 brokerages, including Barclays Capital, Credit Suisse and Deutsche Bank, cut their price target on the stock by $142 on average. Morgan Stanley removed the stock from its 'best ideas' list.


"The march to 1,500 on the S&P is looking quite strong, the question is will Apple be the spoiler?" said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"My guess is that while Nasdaq might suffer losses today, both the Dow and the S&P may do otherwise based on economic news out of China and Europe."


Diversified U.S. manufacturer 3M Co reported a 3.9 percent rise in profit, meeting expectations, on solid growth in sales of its wide array of products, which range from Post-It notes to films used in television screens. The shares shed 0.6 percent in premarket trading.


Corporate earnings have helped drive the recent stock market rally. Thomson Reuters data through Wednesday showed that of the 99 S&P 500 companies that have reported earnings, 67.7 percent have exceeded expectations, above the 65 percent average over the past four quarters.


Investors in U.S.-based mutual funds pumped $9.32 billion into stock funds in the week ended January 16, the second consecutive week of inflows for such funds, data from the Investment Company Institute showed Wednesday.


Removing an element of political uncertainty from markets, the U.S. House of Representatives on Wednesday passed a Republican plan to allow the federal government to keep borrowing money through mid-May, clearing it for fast enactment after the top Senate Democrat and White House endorsed it.


(Editing by Bernadette Baum)



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NASA’s Opportunity Rover Begins Year 10 on Mars






The older, smaller cousin of NASA‘s huge Mars rover Curiosity is quietly celebrating a big milestone today (Jan. 24) — nine years on the surface of the Red Planet.


NASA‘s Opportunity rover landed on Mars the night of Jan. 24, 2004 PST (just after midnight EST on Jan. 25), three weeks after its twin, Spirit, touched down. Spirit stopped operating in 2010, but Opportunity is still going strong, helping scientists better understand the Red Planet’s wetter, warmer past.






“No one could’ve imagined how good the exploration and scientific discovery would be for this vehicle, looking from the perspective of nine years ago,” said John Callas, Opportunity‘s project manager at NASA‘s Jet Propulsion Laboratory in Pasadena, Calif. “It’s been a phenomenal accomplishment.”


The headline-stealing Curiosity rover, for its part, touched down on Aug. 5, 2012, marking the next step in Mars exploration. The car-size Curiosity weighs about 1 ton — five times more than either Spirit or Opportunity.


Long-lived rovers


Spirit and Opportunity were originally supposed to spend three months searching for evidence of past water activity on the Red Planet. The golf-cart-size robots found plenty of such signs at their separate landing sites, showing that Mars was not always the cold and arid planet we know today. [Most Amazing Discoveries by Spirit and Opportunity]


For example, in 2007 Spirit uncovered an ancient hydrothermal system in Gusev Crater, suggesting that two key ingredients for life as we know it — liquid water and an energy source — were both present in some parts of Mars long ago.


And Opportunity is currently inspecting clay deposits along the rim of Mars’ huge Endeavour Crater. Clays form in relatively neutral (as opposed to acidic or basic) water, so the area may once have been capable of supporting primitive microbial life, researchers say.


“This is our first glimpse ever at conditions on ancient Mars that clearly show us a chemistry that would’ve been suitable for life at the Opportunity site,” Opportunity principal investigator Steve Squyres, of Cornell University, said of the discovery at a conference last month.


The rovers rolled far beyond their 90-day warranties. Spirit finally stopped communicating with Earth in March 2010, after getting mired in soft sand and failing to maneuver into a position that would allow it to slant its solar panels toward the sun over the 2009-2010 Martian winter. NASA declared the rover dead in 2011.


But Opportunity keeps chugging along. It has put 22.03 miles (35.46 kilometers) on its odometer since landing on Mars — just 1 mile (1.6 km) off the all-time record for most ground covered on the surface of another world. The Soviet Union’s unmanned Lunokhod 2 rover holds that mark, traveling 23 miles (37 km) on the moon back in 1973.


The great engineering that allowed Spirit and Opportunity to keep roving for so long is a big part of the six-wheeled robots’ legacy, mission team members say.


“These are magnificently designed machines,” Callas told SPACE.com. “We really have greatly expanded the exploration envelope by having a vehicle that can not only last so long but stay in very good health over that time, such that we can continue exploring.”


Still in good health


While Opportunity is showing signs of its advanced age, such as an arthritic robotic arm, the rover remains in good shape overall.


“Its health right now is miraculously good,” Callas said.


Still, the rover team is treating every day as a gift at this point, knowing that Opportunity could conk out at pretty much any time. Indeed, the sun will rise one day without a message from Opportunity, and its handlers will have to face the rover’s death and the end of an amazing mission.


“It’s going to be hard; it’ll be the end of a great era,” Callas said. “But we’ll have to remember that we’ve had such a good run.”


Follow SPACE.com senior writer Mike Wall on Twitter @michaeldwall or SPACE.com @Spacedotcom. We’re also on Facebook and Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Stock futures flat, but techs rally in premarket


NEW YORK (Reuters) - Stock index futures were flat on Wednesday, with investors reluctant to make big bets following a five-day rally that took major averages to levels not seen since December 2007.


Tech shares will be in focus with earnings due from tech heavyweight Apple and following strong results from both IBM and Google, which rallied in premarket trading and continued the string of major companies outperforming following results.


Investors were also cautious as they awaited another onslaught of earnings reports, including from Dow component McDonald's Corp . Apple Inc reports after the market's close and investors will scour that report for signs the company can continue to grow at an accelerated pace.


"The market has an upward bias because earnings have generally been better than most expected, but whether we take another leg up from here depends on Apple," said Oliver Pursche, president of Gary Goldberg Financial Services in Suffern, New York. "That is such a heavily watched stock that if it doesn't come out with strong numbers we could take a pause."


Google Inc rose 5.1 percent to $738.61 in light premarket trading a day after the search giant's core Internet business outpaced expectations. Revenue was also higher than expected.


International Business Machines Corp late Tuesday forecast better-than-anticipated 2013 results and also posted fourth-quarter earnings and revenue that beat expectations. The results helped to allay concerns about the tech sector that arose when Intel Corp gave a weak outlook last week. IBM, which is a Dow component, rose 3.9 percent to $203.81 before the bell.


Dow component United Technologies Corp reported earnings that fell from the prior year, hurt by large restructuring charges.


Coach Inc slumped 12 percent to $53.20 before the bell after reporting sales that missed expectations.


According to the latest Thomson Reuters data, of the 74 S&P 500 companies that have reported earnings so far, 62.2 percent have topped expectations, roughly even with the 62 percent average since 1994, but below the 65 percent average over the past four quarters.


Overall, S&P 500 fourth-quarter earnings rose 2.6 percent, according to Thomson Reuters data. That estimate is above the 1.9 percent forecast from the start of earnings season, but well below the 9.9 percent fourth-quarter earnings forecast from October 1, the data showed.


S&P 500 futures fell 1.8 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 3 points and Nasdaq 100 futures rose 4 points.


Both the S&P 500 and Dow Jones industrial average hit five-year closing highs on Tuesday, and recent gains have largely been fueled by a strong start to the earning season. The S&P has jumped 6.4 percent over the past four weeks.


Republican leaders in the U.S. House of Representatives aim on Wednesday to pass a bill to extend the U.S. debt limit by nearly four months, to May 19. The White House welcomed the move, saying it would remove uncertainty about the issue.


The debt limit issue has been viewed as a market overhang for the past few weeks, with many investors worried that if no deal is reached to raise the limit, it could have a negative impact on the economy.


"We're raising our year-end target from 1,535 to about 1,575, in part because of the strong fourth-quarter earnings, but also because with the debt ceiling off the table that's a headwind removed from the market," Pursche said.


(This version of the story corrects spelling the of Oliver Pursche.)


(Editing by W Simon and Kenneth Barry)



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Blast from the Past: NASA Fires Historic Engine Parts for New Rocket






NASA is reigniting its mighty moon rocket engine using parts retrieved from museums and displays.


Engineers working this month at the Marshall Space Flight Center in Huntsville, Ala., are completing a series of test firings using recovered components from 40-year-old F-1 engines. The 19-foot-tall (5.8 meter) by 12-foot-wide (3.8 meter) Apollo powerhouses launched the space agency’s Saturn V rockets on voyages to Earth orbit and to the moon.






Between 1967 and 1973, a total of 65 F-1 engines were launched, five per flight, on 13 Saturn V boosters.


To develop the Space Launch System (SLS), NASA’s next generation heavy-lift rocket, engineers are dissecting, refurbishing and re-firing components from the remaining F-1s to gain a better understanding of how the engine was designed and worked. Even four decades later, the F-1 is still the most powerful single-chamber liquid-fueled rocket engine ever developed. [Graphic: Saturn V Moon Rocket Explained]


For these tests, which included a 20-second hot fire on Jan. 10, the team removed a gas generator from an F-1 engine that was stored at Marshall and another in almost pristine condition from the Smithsonian’s National Air and Space Museum in Washington, D.C.


From display stand to test stand


“Being able to hold the parts of this massive engine that once took us to the moon, restoring it, and then seeing it come back to life through hot firings and test data has been an amazing experience,” Kate Estes, a NASA liquid propulsion systems engineer, said in an agency release.


The team decided to take apart the gas generator, the part of the engine responsible for supplying power to drive the giant F-1′s turbopump, because its component parts were small enough to be tested in Marshall’s laboratories. The gas generator is often one of the first pieces designed on a new engine because it is a key part for determining the size of the final engine assembly.


Once they had the artifacts-turned-test-samples in hand, Marshall’s team used a novel technique called structured light 3D scanning to produce three-dimensional computer-aided design drawings of the gas generator.


“This activity provided us with information for determining how some parts of the engine might be more affordably manufactured using modern techniques,” Estes said. “We decided that using modern instrumentation to measure the generator’s performance would provide beneficial [data] for NASA and industry.”


The engineers then used a digital manufacturing technique called selective laser melting to quickly produce the metal parts they needed for the test and to determine the hot gas temperature and pressure inside the test article.


Old pad, new tricks


The series of hot-fire tests were conducted on Test Stand 116 in the Marshall Space Flight Center’s East Test Area.


“We modified the test stand to accommodate a single kerosene gas generator component,” test conductor Ryan Wall said. “These tests demonstrate the stand’s new capabilities, which will be beneficial for future NASA and industry propulsion activities.”


The most noticeable aspect of these firings is the sheer power when the gas generator ignites and creates roughly 31,000 pounds (14,000 kilograms) of force. When the original F-1 lit up, the gas generator powered the enormous turbomachinery that pumped almost three tons of propellant each second into the thrust chamber and accelerated through the nozzle, creating an incredible 1.5 million pounds (680,000 kg) of thrust.


“Modern instruments, testing and analysis improvements learned over [the past] 40 years, and digital scanning and imagery techniques are allowing us to obtain baseline data on performance and combustion stability,” said Nick Case, an engineer from Marshall’s propulsion systems department. “We are even gathering data not collected when the engine was tested originally in the 1960s.”


Since NASA conducted this work in-house, the data that was collected is not proprietary. It will be shared with the agency’s industry partners and academic researchers.


More F-1 tests on the horizon


“This effort provided NASA with an affordable way to explore an engine design in the early development phase of the SLS program,” said Chris Crumbly, manager of the SLS Advanced Development Office.


The larger, evolved SLS vehicle will require an advanced booster with more thrust than any existing U.S. liquid- or solid-fueled booster. Last year, NASA awarded contracts aimed at improving the affordability, performance, and the reliability of the rocket’s advanced booster.


Dynetics Inc. of Huntsville, Ala., in collaboration with Pratt & Whitney Rocketdyne of Canoga Park, Calif. — the same company that developed the F-1 engine — will use these early tests as a springboard for more gas generator testing at Marshall. Then, they will use modern manufacturing to build a new gas generator injector that also will be hot fired in Test Stand 116 and then compared to the baseline data collected during the earlier test series.


Additionally, Dynetics plans to fabricate and test several other F-1 engine parts, including turbine blades, leading to the testing of an entire F-1B powerpack including the gas generator and turbopump, the heart of engine operations.


Click through to collectSPACE.com to see video of the Apollo-era Saturn V F-1 gas generator blazing back to life.


Follow collectSPACE on Facebook and Twitter @collectSPACE and editor Robert Pearlman @robertpearlman. Copyright 2012 collectSPACE.com. All rights reserved.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Stock futures imply flat open at five-year highs

NEW YORK (Reuters) - Stock index futures pointed to a flat open on Tuesday as investors held back from making large bets ahead of a busy week for corporate earnings and after recently notching five-year highs.

Both the Dow and S&P 500 closed at their highest levels so far in this earnings season, with the gains largely coming on better-than-expected results. But despite bullish statements from major companies, including big banks, many investors are worried other reports will reflect economic uncertainty in the fourth quarter.

"The market has been pleased with earnings thus far, and it is encouraging to see a cyclical company like DuPont show revenue strength, but I'm waiting on more tech and energy earnings until I come down one way or the other on this season," said Adam Sarhan, chief executive of Sarhan Capital in New York.

reported revenue that was ahead of Wall Street expectations, sending shares up 1.4 percent to $47.65 before the opening bell. However, slumping demand for pigment and solar panel parts hurt fourth-quarter profit.

Travelers Cos Inc gained 2.9 percent to $78.50 after forecasting higher premiums across its businesses, though it also posted earnings that fell by half from losses related to Hurricane Sandy.


On the downside, Johnson & Johnson , the diversified health company, fell 0.9 percent to $72.55 after forecasting 2013 earnings below expectations, while Verizon Communications Inc lost 1.5 percent to $41.90 after reporting a steep loss on pension liabilities and charges related to Sandy.


All four companies are Dow components, while Google Inc and Texas Instruments are scheduled to report after the market closes. Tech earnings will be in particular focus after Intel Corp last week gave a revenue outlook that was below expectations.


Overall, S&P 500 fourth-quarter earnings are forecast to have risen 2.5 percent, according to Thomson Reuters data. That estimate is above the 1.9 percent forecast from a week ago but well below the 9.9 percent fourth-quarter earnings forecast from October 1, the data showed.


S&P 500 futures fell 1.4 point and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 18 points and Nasdaq 100 futures rose 1.25 points.


Monday was a market holiday for Martin Luther King Jr. Day in the United States. President Barack Obama at his inauguration for a second term on Monday called for aggressive action on climate change, economic equality and the federal budget.


"It remains a question whether Obama will be able to deliver on his agenda, but a sector like solar power companies could continue to be strong as he pushes for action," Sarhan said.


Markets have recently been pressured by uncertainty stemming from Washington about the federal debt limit and spending cuts that could hamper U.S. growth.


Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit, allowing the government to borrow enough to meet its obligations during that period.


U.S. shares of Research in Motion jumped 7 percent to $16.95 in premarket trading a day after its chief executive said the company may consider strategic alliances with other companies after the launch of devices powered by RIM's new BlackBerry 10 operating system.


The Dow and S&P 500 closed at five-year highs on Friday as the market registered a third straight week of gains on a solid start to the quarterly earnings season, including positive results from Morgan Stanley and General Electric Co .


(Editing by Chizu Nomiyama and Kenneth Barry)

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AP Interview: UN chief wants action on climate






UNITED NATIONS (AP) — U.N. Secretary-General Ban Ki-moon says his top hopes for 2013 are to reach a new agreement on climate change and to urgently end the increasingly deadly and divisive war in Syria.


The U.N. chief told The Associated Press that he’s also hoping for progress in getting the global economy humming again, restarting Israeli-Palestinian peace negotiations, promoting political solutions in Mali, Congo and the Central African Republic, and providing energy, food and water to all people.






Ban laid out this ambitious wish list in an interview before heading to the World Economic Forum in Davos this week, saying he plans to take “the uncommon opportunity” of being with some 2,500 government, business and civil society leaders in the Swiss ski resort to exchange frank views on these issues.


“The world is now experiencing unprecedented challenges,” Ban said.


“Climate change is fast happening — much, much faster than one would have expected,” he said. “Climate and ecosystems are under growing strain.”


Ban spoke before President Barack Obama, in his inaugural address Monday, put a similar emphasis on tackling climate change in his second term.


Two-decade-old U.N. climate talks have so-far failed in their goal of reducing the carbon dioxide and other greenhouse gas emissions that a vast majority of scientists says are warming the planet. In December, a U.N. climate conference in Doha, Qatar, agreed to extend the Kyoto Protocol, a treaty that limits the greenhouse gas output of some rich countries, and affirmed a previous decision to adopt a new global climate pact by 2015.


“I will do my best to mobilize the political will and resources so that the member states can agree to a new legally binding global agreement on climate change,” Ban said.


Ban urged progress in getting nations and people to use the world’s limited resources without waste and in ways to ensure their replacement, so that all people will have enough to eat and drink and there will be electricity for their homes — and have energy to spare to promote economic growth.


“We have to have sustainable development,” he said. “That’s our number one priority together with climate change.”


Momentum for fighting climate change has stalled amid recessions, financial meltdown and government debt crises of the past five years.


“At the same time, we need to see some economic dynamism,” Ban said. “The world is still suffering, struggling to overcome its economic crisis.”


The forum at Davos, opening Wednesday, focuses this year on how to ensure a more sturdy economic recovery that can withstand the kind of shocks the past few years have wrought — and includes closed-door panels on many of the things worrying Ban. Among the world leaders he may rub elbows with at Davos are Microsoft founder Bill Gates, International Monetary Fund Managing Director Christine Lagarde, German Chancellor Angela Merkel, British Prime Minister David Cameron and South African President Jacob Zuma.


The secretary-general expressed hope that the major powers will be able to revitalize growth, which will help developing countries meet the U.N. Millennium Development Goals adopted by world leaders to combat poverty by the target date of 2015. The goals include cutting extreme poverty by half, ensuring a primary school education for every child, significantly reducing maternal and infant mortality, and halting and reversing the HIV/AIDS pandemic.


On the political front, Ban said he is deeply concerned about the deteriorating situation in Syria where the conflict will soon be entering its third year.


“I believe that world leaders must address this issue with a top priority and a sense of urgency. We cannot go on like this,” he said. “More than 60,000 people have been killed, and if the situation continues like this way, we will have to see more and more death, more and more people who are fleeing Syria.”


The secretary-general said he is also mobilizing U.N. envoys and other resources to try to make progress on the faltering Mideast peace process; in Mali, where a French-led military operation is fighting Islamist extremists who control the north and have pushed south toward the capital; the deteriorating political situation in Congo where M23 rebels have gained ground in the volatile east; and in the Central African Republic where rebels whose offensive stopped short of the capital recently signed a peace agreement with the president.


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European shares test two-year highs, yen volatile before BOJ

LONDON (Reuters) - European shares inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented demand for safe-haven assets.


U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.


European shares <.fteu3> were supported by the news <.eu>, but with no clear response from the Democrats and a thin session expected due to a market holiday in the United States, the impact on other assets such as Bunds is likely to be limited.


An early morning push by London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> was beginning to fade by mid-morning, leaving the pan-European FTSEurofirst 300 up 0.1 percent and MSCI's world index <.miwd00000pus> steady at a 20-month high. <.l><.eu/>


"There's a bit of encouragement coming out of the U.S.," said Toby Campbell-Gray, head of trading at Tavira Securities in Monaco.


He added that equity markets had remained resilient in the face of an uncertain economic outlook as many investors had stepped in to buy "on the dip" on days when shares had fallen.


Ahead of the region's first finance ministers' meeting of the year, the euro was down slightly at just over $1.33 against the dollar, while the yen firmed after touching a new low, ahead of a Bank of Japan decision expected to deliver bold monetary easing.


According to sources familiar with the Bank of Japan's thinking, the government of new Prime Minister Shinzo Abe and the central bank have agreed to set 2 percent inflation as a new target, supplanting a softer 1 percent 'goal'.


The dollar rose to as high as 90.25 yen earlier on Monday, its highest since June 2010. It later slipped 0.7 percent on the day to 89.39 yen, as traders cut short positions given the BOJ has often fallen short of market expectations.


"Investors are being mindful that the moves we have seen over the course of the last month or two are just worth locking in at least until we understand how the BOJ are really going to play in the future," said Jeremy Stretch, head of currency strategy at CIBC World Markets.


CURRENCY WAR


Japanese equities have surged in recent weeks in anticipation of a more aggressive monetary policy stance, but not everyone is happy.


The slump in the yen has prompted Russia's deputy central bank governor to warn of a new round of 'currency wars' and the medium-term risk of running ultra-loose monetary policies is likely to be a theme of the World Economic Forum in Davos, which opens on Wednesday.


With little in the way of economic data or debt issuance and U.S. markets shut for the Martin Luther King public holiday, the rest of the day was expected to be a fairly quite day for investors.


In bond markets, German Bund yields rose close to the top of this year's 30 basis points range, after Republican lawmakers' efforts to give the U.S. government leeway to pay its bills for another three months. Most other euro zone bonds were trading virtually flat.


The U.S. Treasury needs congressional authorisation to raise the current $16.4 trillion limit on U.S. debt sometime between mid-February and early March. A failure to achieve that could lead to a debt default.


"This is part of the political game, it remains to be seen whether the Democrats will accept it," KBC strategist Piet Lammens said, adding that investors' working scenario was that a solution to raise the ceiling would be eventually found anyway.


OIL OVERSUPPLY


German markets showed no reaction after the country's centre-left opposition party edged Chancellor Angela Merkel's conservatives from power in a regional election on Sunday, reviving its flagging hopes for September's national election.


Oil prices took their cues from a report in the United States at the end of last week that showed consumer sentiment at its weakest in a year as a result of the uncertainty surrounding the country's debt crisis.


Concerns about demand overshadowed supply disruption fears reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.


Brent futures were down by 17 cents to $111.72 per barrel by 1030 GMT. U.S. crude shed 40 cents to $95.16 per barrel after touching a four-month high last week.


"The over-riding fundamental feeling in the market is that crude oil is over-supplied in 2013," said Tony Nunan, an oil risk manager at Mitsubishi.


Last week's data showing a pick-up in the Chinese economy helped keep growth-sensitive copper prices steady at roughly $8,058 an ounce. Gold, meanwhile, reversed Friday's losses to stand at $1,688 an ounce.


(Additional reporting by Sudip Kar-Gupta, Marious Zaharia and Anooja Debnath; Editing by Will Waterman and Giles Elgood)



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Jupiter and Moon Have Close Encounter Tonight: See It Live Online






The planet Jupiter and Earth’s moon will star is a dazzling spectacle in the night sky tonight, weather permitting. But even if bad weather spoils your view, you can see celestial show live online in a free webcast.


Jupiter and the moon will appear just a finger-width apart tonight (Jan. 21) for stargazers across North America. In South America, some observers may even see Jupiter slip behind the moon in an amazing occultation. The extreme close encounter between the planet and moon is a must-see, even if clouds block your view.






The online skywatching website Slooh Space Camera will provide free telescope views of Jupiter’s encounter with the moon during a 30-minute webcast that begins at 9 p.m. EST (0200 GMT).  You can watch the webcast of Jupiter and the moon on SPACE.com here tonight.


Slooh president Patrick Paolucci, astronomer Bob Berman of Astronomy Magazine and astro-imager Matt Francis of the Prescott Observatory will present the live views of Jupiter and the moon.


“By good fortune, the Great Red Spot will be traveling across the middle of Jupiter’s disk during Slooh’s live broadcast,” Slooh officials said. Jupiter’s Great Red Spot is a colossal storm at least twice the size of Earth that has been observed on Jupiter since the 1600s.


Jupiter and the moon will appear at their closest at different times depending on your viewing location, according to Sky & Telescope magazine. In Eastern North America, it will occur at 11:30 p.m. EST while further inland it occurs at 10 p.m. CST. Moving westward, the peak viewing time will be at 8:30 p.m. MST for stargazers in the Mountain Time Zone, while West Coast observers should look up at 7 p.m. PST.


There is even a chance for stargazers to see Jupiter in daylight, magazine officials said.


“You’ll also get an opportunity to attempt an unusual feat: spotting Jupiter in the late afternoon, before the sun sets,” says Tony Flanders, associate editor at Sky & Telescope magazine and host of SkyWeek on PBS. “First locate the moon medium-high in the east; then look a few moon-widths left or lower left of the moon for Jupiter. It should be easy to spot with binoculars if the air is clear.”


More seasoned amateur astronomers with good telescopes may want to search for Jupiter’s moon Europa with their telescopes. The icy moon will cross in front of Jupiter as seen from Earth tonight between 8:13 p.m. to 10:37 p.m. EST (5:13 to 7:37 p.m. PST/ 0113 and 0337 GMT). Europa’s shadow on the moon will cross Jupiter a bit later, from 10:22 p.m. to 12:46 a.m. EST (7:22 to 9:46 p.m. PST/0322 to 0546 GMT), magazine officials said.


There is one more bright object to check out during tonight’s cosmic display: the bright star Aldebaran. The star will shin to the lower left of Jupiter throughout the evening. The star clusters Hyades and Pleiades also promise to dazzle, according to Sky & Telescope.


While Jupiter and the moon will appear extremely close to each other in the night sky, tonight’s event won’t be the last for the two objects. On March 17, Jupiter and the moon will have another change to appear to have a celestial encounter.


Editor’s note: If you snap an amazing photo of Jupiter and the moon, or any other night sky view, that you’d like to share for a possible story or image gallery, send photos, comments and your name and location to managing editor Tariq Malik at [email protected]


You can follow SPACE.com Managing Editor Tariq Malik on Twitter @tariqjmalikFollow SPACE.com for the latest in space science and exploration news on Twitter @Spacedotcom and on Facebook.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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Will Climate Change Get Cold Shoulder in Obama’s 2nd Term?






As President Barack Obama prepares to take the oath of office for the second time, he has promised that climate change will be a priority in his second term. The chances that significant climate action will actually happen, however, remain slim, policy experts say.


“I always have hope, but it is sometimes hard to see how real progress, substantial progress, is going to be made with the fact that the Congress is so polarized,” said Travis Franck, a policy analyst for nongovernmental organization Climate Interactive.






After his re-election, Obama told Time magazine that his daughters inspired him to think long term, particularly about issues of climate change. And in his first news conference after the election, the president told reporters that he planned to shape a climate change agenda, but gave no details on what that agenda might look like — though he did say that a tax on carbon emissions was likely a non-starter.


These statements took place before the massacre at Newtown, Conn., which pushed gun control to the forefront. And climate change will surely have to vie for attention with other divisive issues, such as an upcoming congressional battle over the nation’s debt ceiling. While Obama may be able to take some executive action to tighten environmental regulations in certain sectors, such as fuel-efficient vehicles or clean energy, experts say, a gridlocked Congress is unlikely to cooperate with the administration‘s global warming agenda. 


“From my point of view, being an observer from Europe, I think it’s more likely this sector-by-sector approach is implemented than a national climate policy,” said Niklas Höhne, the director of energy and climate policy at Ecofys, a renewable energy and climate policy consulting firm. [8 Ways Global Warming Is Already Changing the World]


An urgent call for action


Obama’s second term comes at a time when climate scientists are making increasingly urgent calls for action to mitigate the effects of a warming world. In November, University of Bern, Switzerland, climate researcher Thomas Stocker warned in the journal Science that every year of delay makes it harder to keep warming below levels that would severely disrupt the planet.


A cap of 2.7 degrees Fahrenheit (1.5 degrees Celsius) of warming, the most conservative goal discussed by the Intergovernmental Panel of Climate Change, is already out of reach, Stocker wrote. After 2027, the world can no longer hope to keep warming below 3.6 degrees F (2 degrees C), which is the number currently at the center of international climate negotiations.


The World Bank also issued a report in November, calling for global action on climate change. And in January, a study published in the journal Nature found that the biggest determiner of whether the world would successfully tackle climate change is not tech savvy or hoped-for green development, but the timing of political action.


Public opinion appears receptive to climate change as well. About 73 percent of Democrats, 63 percent of independents and 33 percent of Republicans say they are somewhat or very worried about climate change, according to a September 2012 survey of Americans by the Yale Project on Climate Change Communication and the George Mason University Center for Climate Change Communication.


Support for action was higher. Three-quarters of independents, 93 percent of Democrats and 52 percent of Republicans said global warming should be at least a medium priority for the president and Congress. Severe weather such as the summer’s wildfires out west may have shifted these opinions, as the same numbers in March 2012 (before the fires) were 9 points lower for Democrats and 7 points lower for independents. Republicans held steady between March and September.


Challenges in Congress


The party schisms seen in the polling data are more pronounced in Congress, where representatives routinely deny the scientific consensus that climate is changing and that greenhouse gas emissions by humans are the main driver.


“I’m not going to bet the U.S. economy or the Texas economy on a theory that is not proven,” Rep. Joe Barton (R-Texas) told the Dallas Morning News this month. “Climate has always been changing.” [Reality of Climate Change: 10 Myths Busted]


Attitudes like Barton’s are why climate policy specialists expect little in the way of climate legislation in the upcoming four years.


The administration can make some progress on its own, said Elizabeth Sawin, co-director of Climate Interactive. In Obama’s first term, for example, the administration ordered new fuel standards for lightweight vehicles and coal-fired power plants, and there was money included in the economic stimulus for public transportation and clean energy. Similar efforts in the second term could move the country toward lower carbon emissions, Sawin told LiveScience.


“Anything is better than nothing,” she said.


But a piecemeal approach is less likely than an overarching plan to succeed in slowing warming significantly, Franck, the policy analyst for Climate Interactive, said. Moreover, a failure to act nationally puts the administration in an awkward spot in international negotiations. The 2011 climate talks in Durbin, South Africa, set a plan for a new international climate treaty to be prepared by 2015.


“We’ve lost a lot of credibility in climate change negotiations, because we’ve been kind of paralyzed,” Franck told LiveScience. “If [international negotiators] bring home a treaty or agree to something, when does it get ratified by the Senate? Will we have domestic legislation already? Will the Senate pass it and then we’ll have to pass domestic legislation?”


If the Obama administration is stuck with instituting piecemeal regulations, it will be a “major challenge” to communicate this progress to the international community, Höhne told LiveScience.


“The international climate negotiations really depend on the U.S. bringing something forward,” he said. “If the U.S. doesn’t bring something forward that is considered by most players as something new and something ambitious, then the new international agreement in 2015 will not be ambitious.”


Follow Stephanie Pappas on Twitter @sipappas or LiveScience @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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‘Planetary Parks’ Could Protect Space Wilderness






It’s a wilderness out there in outer space. And as robotic surrogates set the stage for human footprints on Mars and other planetary bodies, just how much respect for other worlds should we have?


One suggested response would establish planetary parks for the solar system, an answer that ties together space science and exploration, ethics, law, policy, diplomacy and communications.






The parks would be organized under a single management system, with clear regulations for protection and use. But just what are the benefits of establishing a park system on target planets and moons before starting an intense program of exploration, and exploitation, of bodies in our solar system?


Planetary protection


A system of planetary parks fits with the ideas of such groups as the Committee on Space Research, advocates of the proposal note. COSPAR’s long list of agenda items includes an active discussion of planetary protection.


COSPAR’s objectives are to promote, on an international level, scientific research in space, with emphasis on the exchange of results, information and opinions. The organization also aims to provide a forum, open to all scientists, for the discussion of problems that may affect scientific space research.


Indeed, participants broached the planetary parks idea in June 2010 during COSPAR’s Workshop on Ethical Considerations for Planetary Protection in Space Exploration, held at Princeton University.


Why now?


“I think the concept is a useful one, and as we know more about planets like Mars, there is even more reason to think about developing planetary parks as we have the information to define where they might go,” said Charles Cockell, a professor of astrobiology at the University of Edinburgh in Scotland, and a leading proponent of the notion.


A network of parks on Mars would aim to preserve different regions on the Red Planet because of the variety of environments it contains.


Mars is home to deserts, extinct shield volcanoes, canyons and polar ice caps. By preserving representative portions of these features, a diversity of planetary parks with different features of outstanding beauty and intrinsic, natural worth could be established. The parks would also allow for maximum preservation of scientific heritage, both geologically and — perhaps — biologically. [6 Most Likely Places for Alien Life in the Solar System]


Red Planet rules


Space preservationists could apply such a system elsewhere, including the moon, and on asteroids and satellites of the giant planets. But, specifically for Martian parks, the following rules might apply:


  • No spacecraft or vehicle parts to be left within the park

  • No landing of unmanned spacecraft within the park

  • No waste to be left within the park

  • Access only on foot or via surface vehicle along predefined routes, or by landing in a rocket-powered vehicle in predefined landing areas

  • All suits, vehicles and other machines used in the park to be sterilized on their external surfaces to prevent microbial shedding

As for those dismissive of the idea, Cockell told SPACE.com that he thinks such reactions occur primarily because there isn’t anyone on Mars or anywhere else beyond Earth orbit at the moment — so why would you want to set up parks?  


Partly scientific, partly ethical


A few reasons explain why parks are a good idea, even without any people on Mars, advocates say.


“I think the reasons are two-fold. It is partly scientific and partly ethical,” Cockell said, pointing out:


  • One scientific argument is that it’s useful to keep areas of other planetary bodies free of human activity, to maintain pristine conditions that can be used to answer scientific questions. This may turn out to be essential if researchers discover life elsewhere. It’s also consistent with existing COSPAR planetary-protection policies that seek to prevent harmful contamination of other planetary bodies in order to preserve their scientific potential.

  • One ethical argument is that it says something about our species that we think about our actions elsewhere and attempt to mitigate our impact prior to establishing a permanent presence beyond the Earth. We might want to preserve some places in pristine condition for future generations. We may also want to protect unknown benefits that could potentially be gained from places in space that human activity has not altered.

Expansion of private enterprise


“I think now is the time to do this because we are entering into a new era of both government and private exploration, which promises the possibility of many new organizations developing a spacefaring capability,” Cockell said. “It would seem then that now is a good time to think about these questions afresh.”


Cockell said that the idea is not to restrict space exploration, but rather to ensure that it is done in a thoughtful and far-sighted manner.


“By establishing parks, we might better be able to define those areas that should be left free of regulations and free for commercial development,” Cockell said. “So they can be used as an impetus to help us think about places that should be left to ensure the unfettered expansion of private enterprise into space, as well as places we might want to turn into our first planetary parks.”


Potential-use conflicts


Another leading thinker in this area is Gerda Horneck, at the Institute of Aerospace Medicine at the German Aerospace Center (DLR) in Cologne, Germany. While not expressing an official view of DLR, she sees the initiative as analogous to national park systems right here on Earth.


“A planetary park system could extend the reasons for practical protection policies beyond the utilitarian protection of scientific resources emphasized by planetary protection … into other utilitarian and intrinsic value arguments,” Horneck told SPACE.com.


She added that such planetary park systems could still allow for the development of non-park areas by commercial enterprises, while incorporating regional protection for other objectives: scientific interest and use, preservation of historic value or natural beauty, or preservation for future generations.


“Thus, a strategy of planetary parks for the solar system could help solve future potential-use conflicts, incorporate both utilitarian and intrinsic-value arguments and be organized under a single management system, with clear regulations for protection and use,” Horneck said.


Such an approach would also address considerations about moral and legal definitions of wilderness on other planetary bodies, Horneck added, “and would allow us to express a respect for other worlds.”


Leonard David has been reporting on the space industry for more than five decades. He is former director of research for the National Commission on Space and a past editor-in-chief of the National Space Society’s Ad Astra and Space World magazines. He has written for SPACE.com since 1999.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Wall Street to open mixed on earnings, China data


NEW YORK (Reuters) - Wall Street was set to open little changed on Friday, a day after the S&P 500 rose to its highest level in five years, as a weak outlook from Intel was weighed against encouraging data out of China and a fourth-quarter profit at Morgan Stanley .


Shares of Intel Corp slumped 6.5 percent to $21.20 in premarket trading after the tech company forecast quarterly revenue that was below analysts' estimates and hiked capital spending plans for the year. Nasdaq futures indicated the index would fare worse than the Dow and S&P.


Futures got a lift after Morgan Stanley reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock jumped 6.6 percent to $22.10 in premarket trading.


Economic data out of China provided some support to the market, though the focus remained on U.S. corporate earnings. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.


S&P 500 futures rose 0.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 7 points, while Nasdaq 100 futures lost 6.25 points.


Stronger-than-expected U.S. economic data boosted the S&P 500 on Thursday to its highest level in five years. The index is now just 5.6 percent from a record closing peak of 1,565.15.


It would be a normal reaction for investors to take a pause to lock in recent gains, said Andre Bakhos, director of market analytics at Lek Securities in New York, but any weakness in the market could also be a buying opportunity.


"It's the type of market where it's starting to gain momentum and if investors miss the run, they're going to be behind the eight ball early in the year," said Bakhos.


General Electric reported a better-than-expected rise in earnings on Friday, pushing its shares up 3.8 percent in premarket trading to $22.10.


Johnson Controls dropped 2.8 percent to $31.07 after its profit fell and the company forecast further declines.


Overall, S&P 500 company earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.


Shares of Research In Motion jumped 6.8 percent to $15.92 in premarket trading after Jefferies Group boosted the BlackBerry maker's rating and price target.


On the economic front, a report on consumer sentiment in early January will be released at 9:55 am ET (1455 GMT).


(Editing by Bernadette Baum)



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Wall Street set to gain on eBay results, rosy data


NEW YORK (Reuters) - Wall Street was set to open higher on Thursday after better-than-expected results from online marketplace eBay and as data showed first-time claims for unemployment benefits dropped to a five-year low.


Futures added to gains following cheery economic reports that also showed that groundbreaking to build new homes picked up in December to its fastest pace in over four years. Separate data showed jobless claims tumbled last week in a hopeful sign for the labor market.


"It's great news and it should take the markets higher," Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago, said of the data.


EBay's shares rose 2.9 percent to $54.41 in premarket trading, a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.


Shares of Bank of America and Citigroup were indicated lower after the two major banks reported results. Bank of America's fourth-quarter profit fell from a year ago as it took more charges to clean up mortgage-related problems, while Citigroup posted $2.32 billion of charges for layoffs and lawsuits, though its fourth-quarter profit rose.


Bank of America fell 0.8 percent to $11.69 in premarket trading, while Citigroup dropped 2.4 percent to $41.45.


After Wednesday's close, the S&P 500 was less than 2 points away from hitting a fresh five-year high on an intraday basis. A gain above September's intraday peak of 1,474.51 would put it at its highest since late December 2007. The S&P closed at 1,472.63 on Wednesday.


S&P 500 futures rose 9.4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 68 points, while Nasdaq 100 futures added 17 points.


Solid earnings from Goldman Sachs and JPMorgan Chase on Wednesday helped lift estimates for S&P 500 corporate earnings slightly to a 2.2 percent gain, Thomson Reuters data showed.


But expectations have come down significantly from where they were in October. With investors anticipating a lackluster earnings season, the focus will be on the corporate earnings outlook for the months ahead, analysts said.


"That gives you a bigger picture of where the economy might be headed. I think you have to stitch together all the information and get a true picture of how robust the economies of the world are," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


"We've all dismissed what's going to happen in this fourth quarter. Estimates are pretty low, the companies that can't step over the lower bar are probably going to get punished."


Shares of Boeing extended a recent slump after the United States and other countries grounded the new 787 Dreamliner following a second incident involving battery failure. Boeing was down 1.8 percent at $73.02.


(Additional reporting by Chuck Mikolajczak; Editing by Bernadette Baum)



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Wall Street to dip on growth concerns, earnings eyed


NEW YORK (Reuters) - Stocks were set to retreat from five-year highs at the open Wednesday despite strong bank results on concerns about global economic growth, with shares of Boeing pressured after two Japanese airlines grounded their Dreamliner fleets.


Earnings at Goldman Sachs nearly tripled on increased revenue from dealmaking and lower compensation expenses and its shares jumped 2.3 percent in premarket trading.


JPMorgan Chase & Co said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record, but its shares slipped 0.7 percent in volatile trading.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said, as it sharply cut its outlook for world growth in 2013 to 2.4 percent, from an earlier forecast of 3.0 percent.


Concern about global economic growth is weighing on markets, said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.


Shares of Dow component Boeing fell 3.8 percent in premarket trading on concerns about the safety of its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a ream of recent incidents.


"It's certainly going to pull averages down given Boeing's large market cap but I don't see it as having broader market implications," Jankovskis said.


S&P 500 futures fell 3.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 45 points, and Nasdaq 100 futures added 2 points.


Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 3.8 percent in premarket trading after jumping more than 21 percent over the past two sessions.


U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


The Dow and S&P 500 rose Tuesday after stronger-than-expected retail data, with the S&P closing at a fresh five-year high of 1,472.34.


(Editing by Bernadette Baum)



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New EPA rule boosts EnerNOC shares






NEW YORK (AP) — Shares of energy services company EnerNOC Inc. jumped sharply on Tuesday after federal regulators issued final environmental rules that many shareholders see as helping the company.


THE SPARK: The Environmental Protection Agency has been drafting rules that will limit how long diesel generators can run without special environmental safeguards. The EPA had been widely expected to limit them to 15 hours per year, which would have hurt EnerNOC‘s business, Wedbush analyst Craig Irwin said on Tuesday. Instead, the EPA rule signed on Monday stuck with earlier language that allows the generators to run for 100 hours per year.






THE BIG PICTURE: Irwin said he expects the new rule to be challenged in court, so EnerNOC’s ability to avoid tighter regulations may turn out to be short-lived. The new EPA rule has gotten close attention in the power-generation industry. It regulates things such as how often the oil and belts must be changed on power generators, how long they can run each year. The EPA rule says the allowance to run the generators 100 hours per year is aimed at allowing sufficient testing of the generators to make sure they’re available to prevent blackouts.


SHARE ACTION: Up $ 2.64, or 21 percent, to $ 15.20 in afternoon trading after rising as high as $ 15.61 earlier. That was its highest level since August 2011. The shares were trading around $ 11.50 as recently as Friday morning, before beginning to rise later that day.


Energy News Headlines – Yahoo! News





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Stock futures fall amid debt limit, profit worries


NEW YORK (Reuters) - Wall Street was set to open lower on Tuesday as investors fretted over the debate brewing in Washington over raising the U.S. borrowing limit as well as what is expected to be a lackluster earnings season.


Futures trimmed losses shortly after a batch of data that showed retail sales rose more than expected in December, but manufacturing activity in New York state contracted for the sixth month in a row in January.


On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.


Resolving the debt ceiling debate is more a question of how than if. Investors are wary of another last-minute agreement like the one in August 2011, said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.


"Of course people expect the government will not default on its debt ... but there could be damage done in how it's resolved," said Meckler. "A long, dragged out fight over this damages the credibility of the government and can weaken the global market for U.S. debt."


Speaking separately on Monday, Federal Reserve Chairman Ben Bernanke urged lawmakers to raise the debt ceiling. The central bank chairman also gave a cautiously optimistic outlook for U.S. growth but no clear hints on when the Fed would curb its aggressive bond purchases.


Corporate earnings season picks up the pace this week and investors are bracing for disappointment. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.9 percent from a year ago, Thomson Reuters data showed.


S&P 500 futures fell 6.2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were down 35 points, and Nasdaq 100 futures lost 6.75 points.


Rounding out the economic data released before the opening bell, producer prices fell last month as food prices declined. A report on business inventories is on tap for 10:00 a.m. ET (1500 GMT).


Although the data, on balance, was positive, reaction in the market was likely to be limited with investors' attention on the negotiations over the debt ceiling and spending cuts, said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, NY.


"'Fiscal Cliff Two' is now the principle focus of investors," he said.


Homebuilder Lennar on Tuesday reported profit that beat expectations amid a jump in new home orders. The stock lost 0.9 percent to $40.65 in premarket trading.


Forest Laboratories reported a third-quarter loss, sending its shares down 5.3 percent at $35.60.


Shares of Dell rose 4.5 percent to $12.83 in premarket trade the day after sources said the company is in talks with private equity firms on a potential buyout.


Facebook added 0.7 percent to $31.15 ahead of a major news event at its headquarters. The secretive nature of the event has triggered a guessing game about what the company could unveil.


(Additional reporting by Chuck Mikolajczak; Editing by Theodore d'Afflisio)



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Wall Street set for weak open as Apple drops on demand worries


NEW YORK (Reuters) - Wall Street was set for a weaker open on Monday as shares of Apple were hit by demand concerns, while investors faced a busy week for corporate earnings results.


Apple slid more than 2 percent in premarket trade after a report that the tech company has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock was down 2.5 percent at $507.00, off its earlier lows.


Apple supplier Cirrus Logic tumbled 4.8 percent to $30.05, while Qualcomm lost 1.6 percent to $63.88. The S&P 500 and Dow were poised to open only modestly lower, but the Nasdaq looked set to fare worse as Apple weighed.


Earnings season picks up the pace this week with reports expected from companies including Goldman Sachs , Bank of America , Intel and General Electric .


Overall earnings are expected to grow by just 1.9 percent in this reporting period, according to Thomson Reuters data. Thirty-eight S&P 500 companies are due to report results this week.


"I think there's going to be more misses than hits in terms of revenue and margins. It's going to be a little bit light this earnings season compared to the last one," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"But the underlying factor is that there's economic growth and that the global economy is picking up."


Investors will also be watching Federal Reserve Chairman Ben Bernanke, who will be speaking on monetary policy, recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (2100 GMT).


Top Fed official Charles Evans said earlier on Monday the U.S. economy is expected to grow by 2.5 percent in 2013, improving to 3.5 percent growth in 2014.


S&P 500 futures fell 1.2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 13 points, and Nasdaq 100 futures were down 12.75 points.


Appliance and electronics retailer Hhgregg Inc cut its same-store sales forecast for the full year.


PPG Industries fell 1.5 percent to $139.99 after it reported fourth-quarter results.


Transocean Ltd has disclosed that billionaire activist investor Carl Icahn has acquired a 1.56 percent stake in the offshore rig contractor and is looking to increase that holding. Its shares rose 3.2 percent to $55.80.


Hewlett-Packard rose 1.8 percent to $16.45 after JPMorgan raised its price target to $21 from $15.


Boeing could come under renewed pressure after Japan's transport ministry launched an investigation into what caused two fuel leaks on a 787 Dreamliner jet owned by Japan Airlines Co . U.S. transportation officials have also said they will take a comprehensive look at the plane to ensure there were no flaws.


United Parcel Service Inc said it would drop its 5.2 billion euro ($7 billion) bid for Dutch delivery firm TNT Express on the expectation of an EU veto. UPS was up 0.4 percent at $78.25 in light volume.


(Editing by Nick Zieminski)



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