Month: May 2018

Official: Trump Administration Will Allow AI to ‘Freely Develop’ in US

Posted on 05/11/2018 by Cobiz

The Trump administration will not stand in the way of the development of artificial intelligence in the United States, a top official said on Thursday, while acknowledging that the burgeoning technology will displace some jobs.

At a White House summit that included companies like Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc., technology policy adviser Michael Kratsios said the administration of President Donald Trump did not want to dictate “what is researched and developed.”

“To the greatest degree possible, we will allow scientists and technologists to freely develop their next great inventions right here in the United States,” he said, according to a copy of his remarks provided by the White House.

AI and deep machine learning raise ethical concerns about control, privacy, cybersecurity, and the future of work, companies and experts say.

Kratsios acknowledged that “to a certain degree, job displacement is inevitable.”

He added: “But we can’t sit idle, hoping eventually the market will sort it out. We must do what Americans have always done: adapt.”

The White House, which has previously clashed with scientists over issues such as climate change, conservation and budget cuts, said it would create a new committee on AI. It will be comprised of the most senior research and development officials across the U.S government, tasked with looking at research and development (R&D) priorities and better coordinating federal investments.

“We cannot be passive. To realize the full potential of AI for the American people, it will require the combined efforts of industry, academia, and government,” Kratsios said.

“In the private sector, we will not dictate what is researched and developed. Instead we will offer resources and the freedom to explore,” he added.

Intel Corp.chief executive Brian Krzanich, who attended the summit, said in a blog post that “without an AI strategy of its own, the world’s technology leader risks falling behind.”

AI is already being used in a number of fields. For instance, the National Institute of Health is exploring ways machine learning can improve cancer detections and treatment, while the General Services Administration is using AI to reduce the need for federal auditors, the White House said.

Among more than 30 major companies attending included officials from Ford Motor Co., Boeing Co., Mastercard Inc. and Microsoft Corp.

The Pentagon and various U.S. departments took part, along with senior White House officials including Jared Kushner and Andrew Bremberg, who heads the Domestic Policy Council.
…

your ads here!

Climate Change Talks Stall Ahead of December 2018 Deadline

Posted on 05/11/2018 by Cosc

Two weeks of climate talks organized by the United Nations ended Thursday as countries failed to resolve differences about implementing the Paris climate accord.

The negotiations will resume in Bangkok in September, where an extra week’s meeting has now been scheduled.

The pact’s 197 signatories have set a December deadline to agree on the precise rules that countries have to stick to under the Paris agreement.

The lack of progress threatens to unravel three years’ worth of work to complete the Paris agreement, a landmark deal reached in 2015 that set a goal to limit fossil-fuel pollution in all nations for the first time and keep global warming below 2 degrees Celsius by the end of the century.

Overall progress at the meeting in Bonn was very slow, with some countries such as China looking to renegotiate aspects of the Paris deal.

Patricia Espinosa, head of the U.N. agency that oversees climate talks, described the package being negotiated as “highly technical and complex.” It aims to ensure that the efforts countries claim they’re making in the fight against global warming can be verified and compared.

The administration of President Barack Obama was widely credited with helping to bring together the diverging interests of rich and poor countries in the drive to secure the Paris deal. His successor, President Donald Trump, withdrew the U.S. from the accord in June 2017. His administration has attacked climate science, saying it questions whether human activity is behind climate change, and is focused on boosting the fossil fuel industry.
…

your ads here!

Even Young Men Who Smoke Have Increased Stroke Risk

Posted on 05/10/2018 by Cosc

Young men who smoke are more likely to have a stroke before age 50 than their peers who avoid tobacco, a small study suggests.

Smoking has long been linked to an increased risk of stroke in older adults, but research to date examining this connection in younger adults has mainly focused on women. For the current study, researchers examined data on 615 men who had a stroke before age 50 and compared their smoking habits to a control group of 530 similar men who didn’t have a history of stroke.

Overall, current smokers were 88 percent more likely to have a stroke than men who never smoked, the study found.

Light smokers who had fewer than 11 cigarettes a day were 46 percent more likely to have a stroke. Heavy smokers with a two pack-a-day habit, or more, were over five times more likely to have a stroke.

‘Simple takeaway’

“The simple takeaway is the more you smoke, the more you stroke,” said lead study author Janina Markidan of the University of Maryland School of Medicine in Baltimore.

Smoking causes inflammation in blood vessels that increases the risk of blood clots forming, which in turn increases the risk of stroke, Markidan said by email.

“Although reducing the number of cigarettes smoked can reduce your risk of stroke, quitting is still the best choice for smokers,” Markidan added.

For the study, researchers focused on what’s known as an ischemic stroke, the most common kind, which occurs when a clot blocks an artery carrying blood to the brain.

Study has limitations

Among the stroke cases included in the study, 239 men had never smoked and 108 were former smokers. Another 103 men smoked less than 11 cigarettes daily, while 97 men smoked between 11 and 20 cigarettes a day and 40 men smoked 21 to 39 cigarettes daily.

An additional 28 men who had strokes smoked more than 40 cigarettes, or two packs, a day.

Most of the men who had strokes in the study were between 35 and 49 years old.

The study wasn’t a controlled experiment designed to prove whether or how smoking habits might directly influence the potential for a stroke in younger men.

Another limitation is that researchers lacked data on other tobacco products participants used in addition to cigarettes, which might influence their risk of stroke, researchers note in the journal Stroke.

Results hold true for younger smokers

The study team also lacked data on other factors that can independently influence the risk of stroke such as alcohol consumption or exercise habits.

Even so, the results suggest the link between smoking and strokes that is well established for older adults also holds true for younger smokers, said Allan Hackshaw, a researcher at University College London in the UK, who wasn’t involved in the study.

“It shows that smoking has a serious impact even when people are younger,” Hackshaw said by email. “Because treatments for stroke are much better now (fewer die from it straight away), many people who suffer one can have long-lasting consequences and physical disabilities at an age when they are usually expected to be working and physically active/fit.”
…

your ads here!

Mexico Says Time Running Out for Quick NAFTA Deal; Canada Upbeat

Posted on 05/10/2018 by Coeco

Mexico on Thursday indicated time was running out to see whether NAFTA nations could agree a new deal in the short term while Canada struck a upbeat tone, saying top-level talks this week had achieved a great deal.

Major differences remain between the three members of the North American Free Trade Agreement after more than eight months of largely slow-moving negotiations launched at the insistence of Washington, which wants major changes to the 1994 pact.

A source close to the talks said U.S. officials have told Canada and Mexico that May 17 or 18 is the deadline for a text that could be dealt with by the current U.S. Congress. A second source confirmed that those dates had been discussed.

Need solutions before elections

Mexico’s Economy Minister Ildefonso Guajardo said he expected to learn by the end of Friday whether a new deal was possible in the short term.

“I think we will be finding out through the day and tomorrow … if we really have what it takes to be able to land these things in the short run,” Guajardo told Reuters.

Top-level talks between the three members this week hit an obstacle as the United States and Mexico sought to settle differences over the key issue of automobiles.

U.S. Trade Representative Robert Lighthizer wants a quick agreement to avoid running into complications caused by a Mexican presidential election on July 1 and U.S. midterm Congressional elections in November.

‘Getting closer’

Canadian Foreign Minister Chrystia Freeland said the three nations had “made a lot of progress since Monday … we are definitely getting closer to the final objective.”

Freeland, speaking to reporters after meetings with senior U.S. legislators on Capitol Hill, sidestepped questions as to when an agreement might be reached.

Guajardo told Reuters that “we have suitcases for two weeks if necessary.”

U.S. President Donald Trump regularly threatens to walk away from NAFTA, underscoring uncertainty over the pact. Business executives complain that the lack of clarity is hitting investment.

Mexico has launched a counterproposal to U.S. demands to toughen automotive industry content rules and boost wages. U.S. President Donald Trump blames cheaper wages in Mexico for manufacturing job losses in the United States.

Many major issues remain

Many other major issues crucial to a deal are still unresolved, including U.S. demands for a five-year sunset clause, and elimination of settlement panels for trade disputes.

After meeting with Lighthizer on Thursday, Guajardo told reporters that the talks were not just covering autos.

“You cannot think that in a process of negotiations we’re going to solve one item without reviewing the overall balance of the agreement,” he said. “We’re going over all the items. It’s very important to stress that.”
…

your ads here!

Italian Researchers Develop Lighter, Cheaper Robotic Hand

Posted on 05/10/2018 by Cobiz

Italian researchers on Thursday unveiled a new robotic hand they say allows users to grip objects more naturally and featuring a design that will lower the price significantly.

The Hennes robotic hand has a simpler mechanical design compared with other such myoelectric prosthetics, characterized by sensors that react to electrical signals from the brain to the muscles, said researcher Lorenzo De Michieli. He helped develop the hand in a lab backed by the Italian Institute of Technology and the INAIL state workers’ compensation prosthetic center.

The Hennes has only one motor that controls all five fingers, making it lighter, cheaper and more able to adapt to the shape of objects.

“This can be considered low-cost because we reduce to the minimum the mechanical complexity to achieve, at the same time, a very effective grasp, and a very effective behavior of the prosthesis,” De Michieli said. “We maximized the effectiveness of the prosthetics and we minimized the mechanical complexity.”

They plan to bring it to market in Europe next year with a target price of around 10,000 euros ($11,900), about 30 percent below current market prices.

Arun Jayaraman,a robotic prosthetic researcher at the Shirley Ryan Ability lab in Chicago, said the lighter design could help overcome some resistance in users to the myoelectric hands, which to date have been too heavy for some. Italian researchers say the Hennes weighs about the same as a human hand.

In the United States, many amputees prefer the much simpler hook prosthetic, which attaches by a shoulder harness, because it allows them to continue to operate heavy equipment, Jayaraman said.

Italian retiree Marco Zambelli has been testing the Hennes hand for the last three years. He lost his hand in a work accident while still a teenager, and has used a variety of prosthetics over the years. A video presentation shows him doing a variety of tasks, including removing bills from an automated teller machine, grasping a pencil and driving a stick-shift car.

“Driving, for example, is not a problem,” Zambelli, 64, said, who has also learned to use a table knife. “Now I have gotten very good at it. I think anyone who’s not looking with an expert eye would find it difficult to spot that it’s an artificial hand.”

About a dozen labs worldwide are working on improvements to the myoelectric prosthetic, with some focusing on touch, others on improving how the nervous system communicates with the prosthetic.

“Each group is giving baby steps to help the field move forward,” Jayaraman said.

Cost remains a barrier for advanced prosthetic limbs, as well as the fact that the more complex motorized systems tend to be “heavy and fragile. They also get hard to control,” said Robert Gaunt, an assistant professor of rehabilitation at the University of Pittsburgh.

The Hennes design “could make a difference. I think it is a clever approach and one that could see significant benefits for people with missing hands,” he said.

Limitations remain the inability to control individual fingers for tasks like playing the piano or typing on a computer.

“But the vast majority of what many of us do with our hands every day is simply grasp objects,” Gaunt said.
…

your ads here!

Dr. Dre Loses Trademark Claim Against ‘Dr. Drai’

Posted on 05/10/2018 by Corts

Dr. Dre has lost his trademark fight against Dr. Drai.

The rapper, whose real name is Andre Young, objected to the trademark application of a Pennsylvania gynecologist whose nickname is spelled differently but sounds the same. Dr. Draion M. Burch’s website advertises that he’s a sex expert, “obgyn and media personality.”

Burch goes by a shortened version of his first name and applied to register it as a trademark. The rapper objected, saying the public would be confused and assume a connection between him and the gynecologist.

The U.S. Patent and Trademark Office has disagreed, saying consumers will be able to distinguish between the two.

…

your ads here!

People, Power Costs Keep Indoor Farming Down to Earth

Posted on 05/10/2018 by Cosc

There’s a budding industry that’s trying to solve the problem of the limp lettuce and tasteless tomatoes in America’s supermarkets.

It’s full of technologists who grow crops in buildings instead of outdoors, short-cutting the need to prematurely harvest produce for a bumpy ride often thousands of miles to consumers in colder climes.

More than 30 high-tech companies from the U.S. to Singapore hoping to turn indoor farming into a major future food source, if only they can clear a stubborn hurdle: high costs.

These companies stack plants inside climate-controlled rooms, parse out nutrients and water, and bathe them with specialized light. It’s all so consumers can enjoy tasty vegetables year-round using a fraction of the water and land that traditional farming requires. Farmers can even brag the produce is locally grown.

But real estate around cities is pricey. Electricity and labor don’t come cheap. And unlike specialty crops like newly legal marijuana, veggies rarely command premium prices. (It’s tough to compete with plants grown in dirt with free sunlight, after all.)

Even the best-funded indoor farming company on the planet — Plenty, which has raised nearly $230 million so far — has embraced a longtime farmers’ crutch: government handouts. It hasn’t found any takers yet.

“We believe society should consider investing in this new form of agriculture in the way it invested in agriculture in the 1940s,” said Plenty CEO Matt Barnard in a recent interview.

Barnard says public aid — in the form of cheaper power — is one way to turn a good but elusive idea into a sustainable venture.

Last year, the U.S. paid farmers $9.3 billion in direct support, and subsidized weather-related crop insurance to the tune of $5.1 billion. In a nutshell, Barnard argues that some of that money could be diverted to crops that grow in rain or shine.

Plenty grows kale, mixed greens, basil and natural sweetener stevia in a grey, low-rise warehouse complex in the industrial suburb of South San Francisco.

Visitors arriving via the back door must don full-body overalls and rubber boots dipped in disinfecting shoe baths before entering the air-tight workspace.

Seedlings are grown on flatbeds and bathed in purple light that gives them the look of a 3D movie watched without glasses. Maturing plants are stuffed into columns where they grow sideways, fed by drip irrigation, and irradiated by columns of light-emitting diodes.

The plants will be clipped and packaged before heading to stores later this year.

But there are some noticeable gaps in the menu. There are no carrots or tomatoes, because long roots that grow down and vines that require human pruning don’t do well on walls.

For indoor farms, making money has largely meant shipping in bulk to grocery stores, a conundrum if costs aren’t in line.

Investment in indoor farming soared to $271 million last year, up from just $36 million in 2016, according to market research firm Cleantech Group.

“The question is, how are they going to scale?” asks Pawel Hardej, CEO of Civic Farms, a vertical farming consultancy in Austin, Texas.

There have been plenty of indoor farming failures already.

FarmedHere shuttered its operations in Louisville, Kentucky, and Bedford Park, Illinois, in January last year due to cost overruns.

Georgia-based PodPonics, which filed for bankruptcy in 2016, cited labor costs as its biggest drag.

Google’s X, the search giant’s secretive “moonshot factory,” killed its indoor farming efforts because it couldn’t grow food staples like grains and rice.

Even fans of the technology aren’t sure it can beat another sheltered alternative: greenhouses.

“Vertical farming to a lot of [investors] is an ‘if’ and a ‘maybe’ versus a ‘when,'” says Cleantech adviser Yoachim Haynes. “The question that needs to be answered is, ‘Can they do it with cheaper electricity and cheaper labor?’ This is not a question that many have been able to answer.”

Barnard says Plenty can prosper if it spends 3 to 5 cents per kilowatt hour on power — well below the 10.4 cents that is the average price nationwide, according to the U.S. Energy Information Administration.

While Plenty announced plans to build a 100,000 square-foot facility in the Seattle suburb of Kent in November, it said it isn’t in talks about power breaks with any U.S. city now.

Most public support has so far been in rebates for energy-efficient lighting, not running costs.

Seattle City Light provided $10,000 worth of energy-efficient lighting to an indoor growing facility that helped feed the city’s homeless. But it already offers the lowest power rate of the top 25 cities in America. “That’s the deal that’s on the table,” says spokesman Scott Thomsen.

Chicago provided some $344,000 in construction grants since 2008 to The Plant , a former pork processing plant that is home to multiple indoor farms.

While that helped with structural improvements, it didn’t help with operations, says John Edel, the president of Bubbly Dynamics LLC, which owns The Plant.

Supplying grocery stores in large volumes is “harder than it sounds,” he says. And other ways of obtaining cheap power — like The Plant’s plan to install a bio-gas guzzling turbine — have faced obstacles that make it uneconomical.

“There isn’t a whole lot in the way of incentives for farms here,” Edel says. “There needs to be.”

…

your ads here!

Spotify Cuts R. Kelly Music From Playlists, Cites Policy

Posted on 05/10/2018 by Corts

Spotify has removed R. Kelly’s music from its playlists, citing its new policy on hate content and hateful conduct.

A spokesperson on Thursday says Kelly’s music is no longer available on the streaming service’s owned and operated playlists and algorithmic recommendations. His music will still be available, but Spotify will not actually promote it.

The new policy defines hateful conduct as “something that is especially harmful or hateful,” such as violence against children and sexual violence.

Spotify says it doesn’t censor content because of an artist’s behavior. But the service wants programs to “reflect” its values. It says when an artist does something harmful or hateful, it may affect the ways it works with the artist.

Kelly has long been the target of sexual misconduct allegations, which he has denied.

Kelly’s representative didn’t immediately respond to an email seeking comment.

…

your ads here!

Mayo Clinic Researchers Experiment with Age-Delaying Drugs

Posted on 05/10/2018 by Cosc

The Spanish explorer Ponce de Leon never found the Fountain of Youth, a magical water source supposedly capable of reversing the aging process. But scientists at the Mayo Clinic in Rochester, Minnesota, are working to extend human life span and delay the onset of multiple age-related diseases and disabilities. VOA Maia Kay has the story.
…

your ads here!

DRC Confirms Ebola Outbreak Near Border

Posted on 05/10/2018 by Cosc

Health officials in the Democratic Republic of Congo are racing to contain a new Ebola outbreak announced this week. At least two people are confirmed to have died of Ebola this month in a remote village of northwest DRC, very close to the border of the smaller, neighboring Republic of Congo.

The DRC’s health minister, Dr. Oly Ilunga, has been keeping people updated on social media, tweeting that on Thursday — some 24 hours after the initial announcement — a team of 12 experts landed in Mbandaka, the city closest to the outbreak.

Ilunga said that Ebola had been confirmed in two of 17 hemorrhagic fever deaths seen in recent weeks in the northwest village of Bikoro. The area has reported 21 cases of hemorrhagic fever in all.

“Our country,” he said in an open letter to the Congolese population, “is facing a new epidemic of Ebola that is a public health emergency of international concern.”

The World Health Organization has released $1 million from its emergency fund to respond to this outbreak. WHO and medical aid group Doctors Without Borders are leading the response, and have sent experts to the site.

“MSF’s DRC emergency team is already on site and has been supporting the Ministry of Health to deploy a rapid and tailored response to the emergency since last Saturday,” the group, known by its french acronym MSF, said in a statement. “MSF will continue to adapt its response according to the needs on the ground.”

The aid group declined to give more details, saying its experts were still gathering information.

‘This is not the first time’

This is not Congo’s first encounter with the hemorrhagic fever, which causes an acute, serious illness which is often fatal if left untreated. It is transmitted to people from wild animals and can be spread through human-to-human transmission.

Ebola derives its name from the place it was first discovered, the Ebola River, a tributary of the Congo River, in 1976. The average survival rate is 50 percent, according to the WHO.

WHO spokesman Tarik Jasarevic told VOA this is Congo’s ninth outbreak of Ebola since the virus was first identified, including one last year that he said “was contained relatively quickly.”

“So we are hoping to do the same thing this time around — to send quickly teams to the area where the virus has been confirmed to be circulating, to be in position to identify those who are sick, to be in position to identify those who have been potentially exposed, to put in place all those necessary measures that are used every time when there is an Ebola outbreak to try to stop the transmission as fast as possible,” he said.

This latest outbreak has occurred in an area near the banks of the Congo River, just across the border from the Republic of Congo. Because this region is poor in infrastructure, its many waterways are vital for transport and trade activities.

Ebola killed more than 11,000 people in a two-year epidemic that ravaged Guinea, Sierra Leone and Liberia between 2014 and 2016. So far, none of the recent outbreaks in Congo have been connected to that event.

The WHO’s Jasarevic said that to contain the newest outbreak, it is crucial that people in and around Bikoro cooperate with local health authorities.

“It is really important that communities in this particular area are engaged, are working together with authorities in terms of safe burial practices, in terms of proper contact tracing, to be compliant with those procedures,” he said. “The community engagement has been proven as a key component in successful containment of an Ebola outbreak.”
…

your ads here!

A New Silicon Valley is Sprouting in Middle America

Posted on 05/10/2018 by Cobiz

Kavitha Kamalbabu needed a break. She had raised her two children and the youngest was now in kindergarten. It was time to turn attention to her career. The 36-year-old wanted to code. The mecca of high tech — Silicon Valley — wasn’t an option because she needed to stay close to home and family in Indianapolis, Indiana.

“I chose Kenzie Academy because of its life project-based learning,” she said.

Kamalbabu is now at the top of her class, getting a two-year degree as a software developer. Kenzie, based in Indianapolis, was established to keep talent in Middle America and to create a mini tech capital.

“Our point is to bring people from Indianapolis to stay in Indianapolis,” said founder Courtney Spence. To do that, they place students in local companies as quickly as possible after their enrollment.

For one class, Kamalbabu, originally from India, found herself asking questions about measuring beer and learning how data increases profit. The class was taking a tour of Steady Serve — a local beer management system that invented a device to measure the content of kegs to reduce waste and fraud.

In the past, CEO Steve Hershberger hired from big universities near Silicon Valley. Now, he needs coders to work on the connection between beer kegs to his iKeg app, and he is choosing interns from Kenzie because of the quality he sees in the candidates.

“It’s like they folded the country and brought San Jose [the heart of Silicon Valley] into Indianapolis.”

By the numbers

Indianapolis is Middle America. Located in the Corn Belt, Indiana is known for its farms — the state’s model is “The Crossroads of America.” City leaders said that perception is changing. Indianapolis deputy mayor of economic development Angela Smith Jones calls Indianapolis “Western Silicon Valley” with a “great startup culture.”

Last year, technology companies in Indianapolis contributed $7.7 billion into the city’s economy and employed 75,000 people.

Job postings for emerging tech are up 40 percent over last year, and the city’s unemployment rate is currently 3 percent, which is lower than the national average.

The average tech industry wage in Indiana is $76,860.

“It’s on the cusp of what we are seeing as being a tech boom,” Spence said.

Not so fast

But students majoring in tech at Stanford University — a research school located in the heart of Silicon Valley — were unimpressed. Freshman Max Comolli said he wouldn’t be enticed to leave California for Indianapolis because of the opportunities and “such a great tech scene already established.”

Masters candidate Diego Garcia said when he thinks of high tech, he thinks of “California or New York, not Indianapolis.” But freshman Alexa White from Detroit, Michigan, thinks a tech capital in the Midwest would “benefit the field” and create diversity.

The gender diversity hasn’t reached Kenzie, although school officials said they actively recruit females. The next class of 18 students starting later this year will have three women. Of the current class, only Kamalbabu and an African American are female.

Statistically, women — and especially women of color — make up a small percentage of the tech field. But 24-year-old Mya Williams called it a “pleasant surprise” when she saw Kamalbabu on the first day of class because she thought she would be the only female. Williams said young girls aren’t encouraged to concentrate in math and science. “They get looked over when it comes to software,” she said.

To Asia and beyond

Kenzie officials plan to duplicate the academy model, starting in Malaysia. Spence goes a step further. “We have a commitment to replicate it around the world,” she said.
…

your ads here!

Virginia Woman Breaks Glass Ceiling with Wood

Posted on 05/10/2018 by Coeco

Virginia Wallen is a wife, a mother of three, and a woodworker. She achieved what she has never imagined she would — turning her carpentry hobby into a business. The entrepreneur isn’t just succeeding in her new career, she’s tearing down stereotypes and building a new role model.

It happens for a reason

Wallen, who grew up helping out on her family’s farm, developed all the skills required by a professional woodworker early on.

“It wasn’t so much as a passion — growing up doing woodworking – as much as a requirement: help mend a fence or work on the farm or do things like that,” she recalls. “When given a choice in high school between home economics and woodshop class I picked woodshop and welding. But the passion happened a lot later when the HGTV [TV channel for home improvement] came out.”

Still, carpentry wasn’t her first career choice. Wallen worked for 11 years with an IT company.

“I was pretty certain that that was my career path for the rest of my life,” she says. “So when I got laid off I was devastated. I just never expected that I would ever be laid off. I was applying for jobs everywhere but because I’m so type A. I can’t sit around and do nothing. And, I was driving my husband crazy.”

New career

Inspired by her dogs, Penny and Chloe, Wallen returned to her hobby… and made a crate for them. Then, she posted the pictures on line.

“That week I had five people reached out to me asking if I would build them one,” she says. “I wasn’t expecting that feedback. But I took it as divine intervention, maybe I need to change. I told my husband I was going to start building dog kennels.”

That surprised her husband, Kevin Wallen, who works in IT and also enjoys carpentry as hobby.

“I thought she was crazy,” he admits. “But after the first one was well-received, it was great. It was like ‘OK, this is going to take off.’”

And it did. But that wouldn’t have been possible without her husband’s help.

“I took over Mr. Mom,” he explains. “I kind of stepped in and had to be more hands on with kids and more hands on with the school stuff and dinners and things like that because her work was focused on building the business. So it was a big change, but being married that’s what you got to do. You got to step up every now and then.”

Wallen is thankful for her husband’s support.

“Kevin can also help pick up that slack when I need it,” she says. “He can come down here when I need help building and he can help me do that. If I need help putting kids to bed because I’m here building until eleven o’clock at night, he can do that too.”

That gave Wallen the time she needed to build her brand, Ginny Bins. Her products are made of recycled wood and have a warm, vintage look. She markets them on-line.

On line at the right time

Around the same time Wallen started her business, psychologist Heather Abbott was in the process of starting a day care center, Little Oaks Montessori Academy. She went online searching for furniture.

“I didn’t want to get the standard, just ordered off the Internet pieces, I wanted something very customized that looked like it would go into a home,” she says. “I saw Ginny Bins, Virginia woodwork business. I liked it. I contacted her.

Abbott says Wallen understood what she wanted, from the whimsical to the practical.

“One of the things that I really was looking for is a book shelf that looks like a tree,” Abbott says. “She’s like, ‘you know I’ve never made anything like this, but I’m going to give it a shot.’ She did it and it happens to be one of the children’s favorite pieces in the school. She made boards with little clips. A table for the staff kitchen. The angle of the room was weird and she had to make it small enough to fit in. She did Dutch doors on all the classrooms so we wouldn’t have to shut the doors, we don’t have to close it all completely. ”

Abbott loves each of these items and the message of unlimited possibilities behind them. “It’s to teach our teachers, our students, our families that pass by, so they know that Virginia made those pieces and they can say this is a stereotype that we’re breaking.”

Woodworker Virginia Wallen doesn’t like stereotypes and believes it’s time for women to ignore them and just do what they want.

That’s what she’s doing. And that’s how she’s found her passion, woodworking- the work she has fun doing every day.

…

your ads here!

Female Woodworker Carves a Space for Women in Carpentry

Posted on 05/10/2018 by Corts

Virginia Wallen is a wife, a mother of three, and a woodworker. She achieved what she has never imagined she would — turning her carpentry hobby into a business. And as Faiza Elmasry tells us, the entrepreneur isn’t just succeeding in her new career, she’s tearing down stereotypes and building a new role model. Faith Lapidus narrates.
…

your ads here!

Syrian Refugees Showcase Innovation Ideas

Posted on 05/10/2018 by Cobiz

No matter where they live, young people are capable of coming up with fresh ideas about how to improve life in their communities. At a recent exhibition, held in the sprawling Zaatari refugee camp in northern Jordan, teenage Syrians showcased inventions geared toward making refugee camps more livable. VOA’s George Putic has more.
…

your ads here!

Energy Stocks Jump on Wall Street After US Quits Iran Deal

Posted on 05/09/2018 by Coeco

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran.

Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to the sidelines in recent days ahead of Trump’s decision returned to the market.

“It’s classic ‘buy on the terrible news,’ ” said Ian Winer, director of trading at Wedbush Securities in Los Angeles, referring to the wider market’s rally. “People had gotten way too nervous about this.”

Trump’s decision for the United States pull out of the international agreement aimed at preventing Iran from obtaining a nuclear weapon was good news for investors betting on a rise in oil prices. Crude hit its highest level in 3½ years as investors bet the U.S. withdrawal would increase risks of conflict in the Middle East and curtail global oil supplies.

The S&P energy index jumped 2.03 percent, bringing its gain this quarter to 12.6 percent, more than any other sector.

“The rise in oil is helping energy sector, which is expected to be a pretty big growth sector. A lot of analysts are expecting strong earnings as oil rebounds, and that hasn’t really played out so much early this year,” said Shawn Cruz, senior trading specialist at TD Ameritrade in Chicago.

The Dow Jones industrial average rose 0.75 percent to end at 24,542.54 points, while the S&P 500 gained 0.97 percent to 2,697.79. The Nasdaq Composite added 1 percent to finish the session at 7,339.91.

Volatility Index down

The Cboe Volatility Index, the most widely followed barometer of expected near-term volatility for the S&P 500, closed down 1.29 points at 13.42, its lowest close since January 26.

Worries lingered that rising oil prices would perk up inflation. The U.S. 10-year Treasury yield rose to a two-week high and above the key 3 percent level on expectations of higher interest rates.

With March quarter reports mostly wrapped up, S&P 500 earnings per share appear to have surged by 25.9 percent, helped by deep corporate tax cuts introduced this year, according to Thomson Reuters I/B/E/S.

In stock trading, Google-owner Alphabet Inc. rose 2.87 percent, providing more lift than any other stock to the S&P 500. It was followed by Facebook Inc., which rose 2.09 percent.

Walmart Inc. fell 3.13 percent after the retailer took a majority stake in Indian e-commerce firm Flipkart for about $16 billion.

Walt Disney dipped 1.79 percent despite reporting a quarterly profit above Wall Street estimates.

Advancing issues outnumbered declining ones on the NYSE by a 1.71-to-1 ratio; on Nasdaq, a 1.65-to-1 ratio favored advancers.

The S&P 500 posted 40 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 168 new highs and 52 new lows.

Volume on U.S. exchanges was 7.1 billion shares, compared with the 6.6 billion-share average over the last 20 trading days.
…

your ads here!

Google Suspends Advertising Related to Irish Abortion Referendum

Posted on 05/09/2018 by Cobiz

Google is suspending all advertising connected to Ireland’s abortion referendum as part of moves to protect “election integrity,” the company announced Wednesday.

The move came a day after Facebook banned foreign-backed ads in the Irish campaign, amid global concerns about online election meddling and the role of internet ads in swaying voters.

Google said that starting Thursday, it would no longer display ads related to the May 25 vote on whether to repeal Ireland’s constitutional ban on most abortions.

The prohibition on ads connected to the Irish vote applies to both Google and YouTube, which the company owns.

The online search leader, which is based in Mountain View, California, declined to say how much advertising revenue it was giving up because of the decision.

Russian role

The role of online ads in elections is under scrutiny following revelations that Russian groups bought ads on leading services such as Google and Facebook to try to influence the 2016 U.S. presidential campaign. Many of the ads were designed to sow confusion, anger and discord among Americans through messages on hot-button topics.

Karin von Abrams, a London-based analyst with the research firm eMarketer, said banning ads represented a short-term safeguard from potential backlash and reputational damage.

“They won’t want to forgo election-related revenues in the longer term, but they do need to get their houses in order, rather than risk further troubles at this stage,” von Abrams said in an email Wednesday.

Google’s statement followed Facebook’s decision Tuesday to ban foreign advertisements around the abortion referendum, which has drawn worries about the influence of North American groups.

Both Google and Facebook are working on measures to improve transparency before November’s U.S. midterm elections, including tools to show the home country of advertisers.

Ireland bars political donations from abroad, but the law has not been applied to social media advertising. Anti-abortion groups based in the United States are among the organizations that have bought online ads in Ireland during the referendum campaign.

’11th hour’ effort

Irish lawmaker James Lawless, technology spokesman for the opposition Fianna Fail party, welcomed the moves by Google and Facebook, but said “they are rushed and they are coming at the 11th hour,” with just two weeks until voting day.

“It’s a step in the right direction, but it’s an awful pity we couldn’t have done this six months ago,” said Lawless, who has introduced a bill to Ireland’s parliament that would require all online advertisers to disclose the publishers and sponsors behind ads.

Largely Catholic Ireland has Europe’s strictest restrictions on abortion, which is legal only when a woman’s life is in danger. Several thousand Irish women travel each year to get abortions in neighboring Britain.

Voters are being asked whether they want to retain the constitutional ban or repeal it and make parliament responsible for creating abortion laws.

Lawless said he had concerns about some of the online advertising from both sides in the referendum campaign.

“Some quite disingenuous ads have been going around in recent weeks targeting people who are in the middle that aren’t always from who they seem to be from,” he said.

“What we really need is legislation and we need a proper, robust, thought-out approach” to the problem, he said.
…

your ads here!

Hedge Fund Founder Charged with Mismarking Securities

Posted on 05/09/2018 by Coeco

A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors.

Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud.

Federal officials said that the founder, chief executive officer and chief investment officer of the investment firm Premium Point Investments LP had carried out a fraud from 2014 through 2016 that was designed to make investors believe that the firm’s hedge funds were doing much better than they were. Between 2008 and 2016, the firm managed billions of dollars in assets, exceeding $5 billion at one time at its peak, authorities said.

Amin Majidi, 52, of Armonk, New York, a former Premium Point portfolio manager, and Jeremy Shor, 46, of Manhattan, a former trader at the firm, also were charged. A lawyer for Ahuja did not immediately comment. A lawyer for Majidi declined comment. An attorney for Shor did not immediately return a message.

“By allegedly cooking the books, Ahuja and his co-defendants made the fund appear more attractive to would-be investors and dissuaded current investors from withdrawing their investments,” said Audrey Strauss, a federal prosecutor.

William F. Sweeney Jr., head of the New York FBI office, said in a release that the defendants’ “alleged practice of intentionally misleading investors and mismarking securities held in the funds they managed allowed them to charge higher fees and hold captive money that would have likely been withdrawn had their clients been aware of the hedge fund’s actual value.”

According to an indictment, Ahuja started his firm in 2008 and launched the company’s flagship mortgage credit fund a year later. After the firm began overstating the net asset value of its funds by more than $200 million at times, it was able to charge investors higher management and performance fees and could forestall redemptions, authorities said.

Prosecutors also announced Wednesday that the firm’s former chief risk officer and a former salesman at a broker-dealer have pleaded guilty to charges and are cooperating.

The Securities and Exchange Commission also filed civil charges against Ahuja, Majidi and Shor.

“Investors rely on their investment advisers to fairly and accurately value securities, and that is especially true when the securities trade in opaque markets,” said Daniel Michael, chief of the SEC’s Complex Financial Instruments Unit. “As we allege, Premium Point masked its true performance, which denied investors the opportunity to make informed investment decisions.”
…

your ads here!

OPEC Source: Saudi Arabia Will Not Act Alone to Fill Any Iran Oil Shortfall

Posted on 05/09/2018 by Coeco

Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom’s oil thinking said.

U.S. President Donald Trump on Tuesday abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member. The original agreement had lifted sanctions in exchange for Tehran limiting its nuclear program.

Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia and Iraq.

During the last round of sanctions, Iran’s oil supplies fell by around 1 million barrels per day (bpd), but the country re-emerged as a major oil exporter, especially to refiners in Asia, after sanctions were lifted in January 2016.

“People shouldn’t take it for granted that Saudi Arabia will produce more oil single-handedly. We need to assess first the impact if there is any, in terms of disruption, in terms of a reduction of Iran’s production,” the OPEC source said Wednesday.

“We have managed to put together this new alliance between OPEC and non-OPEC. Saudi Arabia will not in any way act independently of its partners.”

Riyadh is working closely with the United Arab Emirates (UAE), which holds OPEC’s presidency in 2018 and non-OPEC producer Russia for “coordination and market consultations,” the OPEC source said.

He said any action would be taken in coordination with all OPEC and non-OPEC partners, if needed.

OPEC’s oil supply-cutting deal with non-OPEC producers such as Russia has helped to clear a global oil supply glut and boost prices. The agreement is due to expire at the end of 2018.

OPEC officials from Saudi Arabia, the UAE and Russia along with few other producers in the pact are due to meet in Saudi Arabia on May 22-23 as part of a monthly meeting for the Joint Technical Committee which monitors the oil market.

Saudi Arabia, the world’s largest oil exporter and top OPEC producer, is concerned about any negative impact from the potential oil supply shortage for oil-consuming countries, the OPEC source said.

But Saudi Arabia has enough oil production capacity — currently at 12 million barrels per day (bpd) — to maintain oil market stability, the OPEC source also said.

Iran produces about 3.8 million bpd. Since the Iran nuclear deal went into effect, its exports have risen to about 2.5 million bpd, from less than 1 million bpd. A majority goes to Asia, with Europe receiving about 600,000 bpd.

Analysts now expect Iran’s supplies to fall by between 200,000 bpd and 1 million bpd, depending on how many other countries fall in line with Washington.

Trump and oil prices

Expectations that new U.S. sanctions could hit Iranian crude exports and feed tensions in the Middle East had pushed oil prices higher in the past few weeks.

Brent crude was trading about $77 at a 3-1/2 year high on Wednesday, raising concerns that prices were going too high too fast.

Trump accused OPEC last month of “artificially” boosting oil prices in a message on Twitter, the first time he has mentioned OPEC on social media.

His tweet was seen by OPEC sources as the U.S. president’s way to appease a domestic audience unhappy about a rise in gasoline prices.

A key U.S. ally, Saudi Arabia welcomed Trump’s decision to withdraw from the nuclear agreement with Iran and to reimpose economic sanctions.

Riyadh also said it would work with OPEC and non-OPEC to lessen the impact of oil shortages in a clear indication that the country has been coordinating with Washington ahead of time, sources familiar with the matter said.

“You need to work with your partners in dealing with any potential effect on supply,” the OPEC source said.

“But it should be done in a collective coordinated way and that can only happen when you start to be able to assess what would be the impact.”

OPEC and non-OPEC meet next in June and they are widely expected to keep supply curbs in place until the end of 2018.

But a drop in Iranian exports due to U.S. sanctions, plus supply disruptions in other OPEC members, such as Venezuela, could reduce supply more than planned, leading to a potential price spike.

But the OPEC source said a rise in prices due to the market’s worries about supply should not be the parameter for OPEC to adjust output.

The OPEC source said any decision in June to raise output “should be driven by a potential physical shortage or reduction in production from any oil supply source not only Iran.”

“You only handle [output] when you have a semi-clear idea of what would be the potential impact. It is too early now to do that,” the source said.

He also said Saudi Arabia does not expect any physical impact on the oil market from the U.S. Iran sanctions until the third or fourth quarter of this year.

OPEC’s objective is still to reduce global oil inventories to an acceptable level, and any adjustment in production targets should be done in a coordinated way, the OPEC source said.

“This way you do not disrupt a mechanism that we have worked hard to put together and to sustain just to address a short-term issue,” the source said.
…

your ads here!

US Producer Prices Rise Slightly After Recent Solid Gains

Posted on 05/09/2018 by Coeco

U.S. producer prices barely rose in April after strong gains in the first quarter, held back by a moderation in the cost of services such as hotel accommodation and healthcare, which could ease fears that inflation pressures were rapidly building up.

The slowdown in wholesale price growth reported by the Labor Department on Wednesday is, however, likely temporary as manufacturers have been reporting paying more for raw materials. Economists also expect oil prices to surge after President Donald Trump on Tuesday pulled the United States out of an international nuclear deal with Iran.

“Inflation isn’t breaking out, although with Trump exiting the Iran nuclear deal, higher energy prices could kick-start a new round of inflation at the producer level,” said Chris Rupkey, chief economist at MUFG in New York.

The Labor Department said on Wednesday its producer price index for final demand edged up 0.1 percent last month after increasing 0.3 percent in March. That lowered the year-on-year increase in the PPI to 2.6 percent from 3.0 percent in March.

Economists polled by Reuters had forecast the PPI gaining 0.2 percent last month and rising 2.8 percent from a year ago.

A key gauge of underlying producer price pressures that excludes food, energy and trade services also nudged up 0.1 percent last month. The so-called core PPI had increased by 0.4 percent in each of the past three months.

In the 12 months through April, the core PPI rose 2.5 percent after jumping 2.9 percent in March. Core goods prices increased 0.3 percent in April, matching March’s gain.

Stocks on Wall Street were trading higher, with shares of energy companies getting a boost from surging oil prices after the United States exited the Iran nuclear deal and imposed the ‘highest level’ of sanctions against the OPEC member. Crude prices rose to 3-1/2-year highs. U.S. Treasury yields rose while the dollar was little changed against a basket of currencies.

Inflation near target

Inflation is flirting with the Federal Reserve’s 2 percent target. The U.S. central bank’s preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, increased 1.9 percent year-on-year in March and is expected to breach its target in the coming months.

This comes as last year’s big declines in prices of cell phone service plans drop out of the calculation.

Fed officials have in recent days signaled they would not be too concerned if inflation overshot the central bank’s target, reiterating a message in a statement issued at the end of a two-day policy meeting last Wednesday.

In that statement, policymakers said they expected annual inflation to run close to the “symmetric” 2 percent target over the medium term. The U.S. central bank left interest rates unchanged last week. The Fed hiked rates in March and has forecast at least two more increases for this year. “This report should help calm Fed hawks,” said Chris Low, chief economist at FTN Financial in New York.

In April, the price of services ticked up 0.1 percent. That followed two straight monthly increases of 0.3 percent.

Services were restrained by a 3.2 percent drop in the cost of hotel accommodation, which was the biggest decline since September 2009. The cost of healthcare services fell 0.2 percent after increasing 0.3 percent in March. Those costs feed into the core PCE price index.

Prices for goods were unchanged last month after rising 0.3 percent in March. Wholesale food prices declined 1.1 percent last month, the largest drop since August 2016, after surging 2.2 percent in March. Gasoline prices fell 0.4 percent in April after dropping 3.7 percent in the prior month.

In a separate report on Wednesday, the Commerce Department said wholesale inventories increased less than initially estimated in March amid declines in the stocks of motor vehicles and a range of other goods.

Stocks at wholesalers rose 0.3 percent instead of the 0.5 percent gain it reported last month. They increased 0.9 percent in February.

The component of wholesale inventories that goes into the calculation of gross domestic product – wholesale stocks excluding autos – rose 0.4 percent in March.

…

your ads here!

Amazon Rolls Out Model ‘Smart’ Homes for US Shoppers to Try Out Alexa

Posted on 05/09/2018 by Cobiz

Amazon.com Inc on Wednesday said it has set up model “smart” homes across the United States for shoppers to experience what it’s like for voice aide Alexa to dim the lights, turn on the TV or order more laundry detergent.

The rollout underscores how Amazon aims to make Alexa and the company’s growing list of services, from shopping and entertainment to home security, an everyday part of consumers’ lives. It also steps up competition with retailers such as Best Buy Co Inc that focus on showcasing technology and advising shoppers.

Amazon, the world’s largest online retailer, said it has partnered with Lennar Corp to convert some of the home construction company’s model homes into showrooms for Alexa. The so-called “Amazon Experience Centers” are now open near 15 cities including Los Angeles, Dallas and Washington, with more to come.

“Today, the choices open to customers are, you can go to a brick-and-mortar store and you can see devices on demo tables. You go online and do your research. But you fundamentally are left to imagine what an integrated home would look like,” said Nish Lathia, general manager of Amazon Services, in the company’s Vallejo, California, experience center outside San Francisco.

The centers are “intended to educate and inspire. On the secondary benefit, yes, if it drives sales, we’re not complaining,” he said.

David Kaiserman, president of Lennar Ventures, said the centers should increase traffic to Lennar’s model homes and spark ideas for potential home buyers. Lennar will get a standard commission for Amazon sales to customers it helped acquire, too.

The global smart home market is expected to reach an estimated $107.4 billion by 2023, according to market research firm ReportLinker.

Best Buy is betting big on this trend. It has expanded its In-Home Advisor program to all major U.S. markets and employs more than 350 advisers under the initiative, its most recent annual report said.

Experts visit customers’ homes and consult on issues from increasing appliance efficiency to setting up connected gadgets — similar in nature to Amazon’s 1.5-year-old “Smart Home Services,” which is poised to gain from the new experience centers.

“We’re excited about Best Buy’s program,” said Amazon’s Lathia. “The more customers that get educated about smart home, the better it is for everybody.”

Philippe Ferrey, an Amazon Expert present at the Vallejo center, previously worked five years for Best Buy as a Geek Squad agent, he said.
…

your ads here!

New Shoppers Can Try Alexa in Amazon Model ‘Smart’ Homes

Posted on 05/09/2018 by Cobiz

The centers are “intended to educate and inspire. On the secondary benefit, yes, if it drives sales, we’re not complaining,” he said.

The global smart home market is expected to reach an estimated $107.4 billion by 2023, according to market research firm ReportLinker.

“We’re excited about Best Buy’s program,” said Amazon’s Lathia. “The more customers that get educated about smart home, the better it is for everybody.”

Philippe Ferrey, an Amazon Expert present at the Vallejo center, previously worked five years for Best Buy as a Geek Squad agent, he said.
…

your ads here!

Lego Builds Miniature Windsor Castle to Celebrate Royal Wedding

Posted on 05/09/2018 by Corts

Attraction park Legoland has unveiled a miniature model of this month’s royal wedding of Prince Harry and Meghan Markle at Windsor castle, built by a team of 11 model-makers who used almost 60,000 pieces of Lego bricks.

The replica includes a 60-brick Markle in her wedding dress and veil, with Harry by her side.

The couple are riding in a brick-built carriage being drawn by horses along Windsor Great Park’s Long Walk toward the castle, surrounded by 500 spectators, recreating the real-life procession that is planned for the big day on May 19.

The scene is completed by miniature models of Queen Elizabeth and the Duke of Edinburgh along with best man Prince William, his wife, Kate, and their children, Prince George and Princess Charlotte, and Meghan Markle’s parents.

Lego said the wedding scene replica, which took 752 hours to build, will be on permanent display at its theme park, just three miles (5 km) from the real Windsor castle to the west of London.
…