WORLD September 22, 2011 | 10:00 AM
With tobacco use climbing worldwide, it is likely to claim over 8 million lives a year by 2030. This increase will put significant strain on world healthcare systems, and governments are now actively launching initiatives to galvanize international efforts against tobacco use.
Needing to reach over a billion smokers in the world, health organizations have had to get more creative than traditional poster campaigns.Read more »
ECONOMY September 21, 2011 | 1:45 PM
Obama is promoting a new debt plan aimed at cutting the US deficit by more than $3 trillion over the next 10 years. The debt reduction package calls for nearly $1.5 trillion in new taxes that target the upper class.
The plan also promotes the cutting of Medicare and Medicaid benefits by over $580 billion and includes savings from the withdrawal of US troops from Iraq and Afghanistan equaling $1 trillion. Obama's proposal does not call for any changes in Social Security and the age of eligibility for Medicare.Read more »
BUSINESS September 21, 2011 | 10:03 AM
Netflix will divide its DVD and online media rental services into two separate entities, in another move that has proved unpopular with subscribers. The company will cut loose its DVD by mail rental business into a wholly owned subsidiary called Qwikster, while streaming services will continue under the Netflix name.
Netflix has a US subscriber base of over 24 million, but recently customers have begun leaving in droves following the announcement of a 60% hike in monthly subscription fees in July.Read more »
FINANCE September 20, 2011 | 6:33 PM
In 2010, spending on clean energy rose 30% to $243 billion. The industry experienced a compound annual growth of over 35% in the four years to 2008, but the recession saw figures plummet in 2009.
The greatest investment segment in the 2010 clean energy rebound involved utility-scale projects such as solar parks and wind farms, reports the World Economic Forum.Read more »
BUSINESS September 20, 2011 | 5:15 PM
A report by the World Economic Forum identifies 16 companies in emerging economies for implementing innovative and rapid growth solutions while maintaining highest standards of environmental and social practices.
The 16 “New Sustainability Champions” come from diverse nations such as China, Costa Rica, Egypt, and South Africa, with companies such as Suzlon, Woolworths and Natura among those named.Read more »
BUSINESS September 20, 2011 | 4:44 PM
BP will buy out the remaining 50% stake of Brazilian ethanol producer Tropical BioEnergia to take full control of the company. BP Biofuels agreed to pay some $71 million for the combined 50% share held by Maeda Agroindustrial and LDC-SEV Bioenergia as part of the Tropical BioEnergia joint venture.
The partnership between the three companies began in 2008 when BP Biofuels began its ethanol operations in Brazil at a mill in Edeia, Goias state.Read more »
FINANCE September 19, 2011 | 4:11 PM
Five of the largest central banks in the world - the European Central Bank, the Federal Reserve, Swiss National Bank, Bank of England and Bank of Japan - will offer non-capped, three-month dollar loans to help leverage European banks under pressure from the debt crisis.
These fixed-rate dollar loans are for an unlimited amount as long as the central bank demanding the money has collateral.Read more »
BUSINESS September 16, 2011 | 5:43 PM
The US Department of Energy (DOE) loan initiative may double by the end of September despite having doled out $535 million to the now-bankrupt solar panel manufacturer Solyndra under the loan program. More than a dozen companies are awaiting the go ahead for close to $9 billion in loans.
The DOE previously sanctioned loans worth more than $10 billion across less than 20 companies including solar company Sunpower, renewable energy solution provider Abengoa, and geothermal company Ormat. The loans for Sunpower, Abengoa, and Ormat are to cover solar generation, ethanol projects, and wind generation and geothermal activities respectively.Read more »
BUSINESS September 16, 2011 | 5:11 PM
Sony will launch its new portable gaming device, the PlayStation Vita, on December 17 in Japan, with the rest of the world following in 2012.
The next-generation Vita will hit Japanese stands with 26 games available, including some popular titles, such as Ultimate Marvel vs Capcom 3, Ridge Racer, and Uncharted: Golden Abyss. Over 70 other games are sill in development, with Final Fantasy and Metal Gear Solid among those to be released next year.Read more »
WORLD September 16, 2011 | 4:46 PM
A new deep-space rocket will be ready for its first test-run lift off from Florida’s Kennedy Space Center in 2017, costing the National Aeronautics and Space Administration (NASA) $10 billion plus another $6 billion to build the Orion deep-space crew capsule.
The rocket, known as the Space Launch System (SLS), will be able to carry astronauts to an asteroid by 2025 and to Mars around five years later, further into space than astronauts have ever travelled before.Read more »
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