Asia stocks waver amid drop in Japan CPI

BANGKOK (AP) ? Asian stock markets wavered Friday despite better-than-expected U.S. employment data after Japan faced an unwelcome drop in consumer prices.

Wall Street closed higher Thursday after the U.S. government reported the number of Americans seeking jobless benefits dropped last week by 16,000, suggesting that companies are cutting fewer jobs and that the U.S. may be headed for an uptick in job growth. Analysts said that solid U.S. corporate earnings also helped to lift the market mood.

But the Nikkei 225 in Tokyo slipped from a five-year high after Japan's consumer price index fell 0.9 percent in March from a year earlier. The result flies in the face of efforts by Prime Minister Shinzo Abe, who took office in December vowing to reverse a long bout of deflation, or falling prices, which has crippled economic growth.

The Nikkei, which in the morning hit its highest intraday level in five years at 13,983.87, fell into negative territory before edging up marginally to 13,934.69. Later in the day, attention will turn to a meeting by the Bank of Japan, which will issue an updated inflation outlook.

Also Friday, the U.S. Commerce Department will release economic growth figures for the first three months of 2013.

"A solid GDP figure out of the US should give markets a boost," said Daniel Martin of Capital Economics in Singapore. He said he expected the data to show that the world's No. 1 economy grew at an annual rate of 3.2 percent. That would be a sharp improvement from the anemic 0.4 percent growth rate reported for the final quarter of the year.

Elsewhere, Hong Kong's Hang Seng rose 1 percent to 22,613.83. Australia's S&P/ASX 200 slipped marginally to 5,101.10. South Korea's Kospi fell 0.3 percent at 1,946.98. Benchmarks in Singapore and Taiwan rose while those in mainland China and India fell.

In Britain, meanwhile, growth figures released Thursday came as a surprise relief to analysts who predicted that the U.K. would sink into its third recession in five years. Instead, GDP for the first quarter of 2013 grew 0.3 percent compared with the previous quarter.

Wall Street posted modest gains Wednesday on the heels of a U.S. Labor Department report showing the number of Americans seeking unemployment benefits fell last week to a seasonally adjusted 339,000, the second-fewest in more than five years. The drop suggests that layoffs have declined and that job growth may pick up from last month's sluggish pace.

Among companies reporting earnings, children's clothing maker Carter's, motorcycle maker Harley-Davidson and cruise line Royal Caribbean all reported higher profit and revenue, as did 3M, the maker of Scotch tape and construction equipment.

The Dow Jones industrial average rose 0.2 percent to 14,700.80. The Standard & Poor's 500 rose 0.4 percent to 1,585.16. The Nasdaq composite index gained 0.6 percent, to 3,289.99

Benchmark oil for June delivery was down 55 cents to $93.08 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.21 to close at $93.64 on the Nymex on Thursday.

In currencies, the euro rose to $1.3038 from $1.3002 late Thursday in New York. The dollar fell to 98.81 yen from 99.31 yen.

Source: http://news.yahoo.com/asia-stocks-waver-amid-drop-japan-cpi-051453836--finance.html

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President Bush optimistic about immigration bill

Former President George W. Bush participates in a signing ceremony for the joint use agreement between the National Archive and the George W. Bush Presidential Center Wednesday, April 24, 2013, in Dallas. Bush and his wife, Laura, attended Wednesday's ceremony in Dallas the day before the official dedication of the George W. Bush Presidential Center. The George W. Bush Foundation raised the money to build the center. The foundation donated the library and museum portion of the center to the National Archives, which provides access to presidential records, documents, historical materials and artifacts over time. (AP Photo/David J. Phillip)

Former President George W. Bush participates in a signing ceremony for the joint use agreement between the National Archive and the George W. Bush Presidential Center Wednesday, April 24, 2013, in Dallas. Bush and his wife, Laura, attended Wednesday's ceremony in Dallas the day before the official dedication of the George W. Bush Presidential Center. The George W. Bush Foundation raised the money to build the center. The foundation donated the library and museum portion of the center to the National Archives, which provides access to presidential records, documents, historical materials and artifacts over time. (AP Photo/David J. Phillip)

WASHINGTON (AP) ? President George W. Bush says he's encouraged by signs of progress in overhauling the U.S. immigration system.

But the former president also says he hopes the bill passes on its own, and not because of lawmakers' fears of alienating the Hispanic community.

Bush tells "CBS This Morning" he understands the politics of fellow Republicans softening their stand on immigration after last year's presidential election. But he also says, quote, "I hope that's not why it happens. I hope it happens because that's the right thing to do."

On another controversial issue, Bush demurred when asked if he supports gay marriage.

He tells CBS anchor Charlie Rose, "I'm not weighing in on these issues because I made a decision to get off the stage, so I'm off the stage."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-04-25-Bush-Immigration/id-38fd5f63a698475385b34d687dd46711

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Samsung continues on U.S. warpath as Best Buy micro-stores roll out

WARSAW, April 25 (Reuters) - Borussia Dortmund striker Robert Lewandowski played down his stunning one-man demolition of Real Madrid, saying he had played better than Wednesday's four-goal masterclass. The Poland international scored all his team's goals in a 4-1 win over the nine-times champions in their Champions League semi-final first leg. "In the second half Real Madrid did not know how they should play, at some moments they were helpless," Lewandowski told the Polish pay-TV platform nc+. "We took the first step (towards the final). "I felt confident, but there were even better matches. ...

Source: http://news.yahoo.com/samsung-continues-u-warpath-best-buy-micro-stores-164013829.html

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Looking for life by the light of dying stars

Apr. 24, 2013 ? Because it has no source of energy, a dead star -- known as a white dwarf -- will eventually cool down and fade away. But circumstantial evidence suggests that white dwarfs can still support habitable planets, says Prof. Dan Maoz of Tel Aviv University's School of Physics and Astronomy.

Now Prof. Maoz and Prof. Avi Loeb, Director of Harvard University's Institute for Theory and Computation and a Sackler Professor by Special Appointment at TAU, have shown that, using advanced technology to become available within the next decade, it should be possible to detect biomarkers surrounding these planets -- including oxygen and methane -- that indicate the presence of life.

Published in the Monthly Notices of the Royal Astronomical Society, the researchers' "simulated spectrum" demonstrates that the James Webb Space Telescope (JWST), set to be launched by NASA in 2018, will be capable of detecting oxygen and water in the atmosphere of an Earth-like planet orbiting a white dwarf after only a few hours of observation time -- much more easily than for an Earth-like planet orbiting a sun-like star.

Their collaboration is made possible by the Harvard TAU Astronomy Initiative, recently endowed by Dr. Raymond and Beverly Sackler.

Faint light, clear signals

"In the quest for extraterrestrial biological signatures, the first stars we study should be white dwarfs," said Prof. Loeb. Prof. Maoz agrees, noting that if "all the conditions are right, we'll be able to detect signs of life" on planets orbiting white dwarf stars using the much-anticipated JWST.

An abundance of heavy elements already observed on the surface of white dwarfs suggest rocky planets orbit a significant fraction of them. The researchers estimate that a survey of 500 of the closest white dwarfs could spot one or more habitable planets.

The unique characteristics of white dwarfs could make these planets easier to spot than planets orbiting normal stars, the researchers have shown. Their atmospheres can be detected and analyzed when a star dims as an orbiting planet crosses in front of it. As the background starlight shines through the planet's atmosphere, elements in the atmosphere will absorb some of the starlight, leaving chemical clues of their presence -- clues that can then be detected from the JWST.

When an Earth-like planet orbits a normal star, "the difficulty lies in the extreme faintness of the signal, which is hidden in the glare of the 'parent' star," Prof. Maoz says. "The novelty of our idea is that, if the parent star is a white dwarf, whose size is comparable to that of an Earth-sized planet, that glare is greatly reduced, and we can now realistically contemplate seeing the oxygen biomarker."

In order to estimate the kind of data that the JWST will be able to see, the researchers created a "synthetic spectrum," which replicates that of an inhabited planet similar to Earth orbiting a white dwarf. They demonstrated that the telescope should be able to pick up signs of oxygen and water, if they exist on the planet.

A critical sign of life

The presence of oxygen biomarkers would be the most critical signal of the presence of life on extraterrestrial planets. Earth's atmosphere, for example, is 21 percent oxygen, and this is entirely produced by our planet's plant life as a result of photosynthesis. Without the existence of plants, an atmosphere would be entirely devoid of oxygen.

The JWST will be ideal for hunting out signs of life on extraterrestrial planets because it is designed to look into the infrared region of the light spectrum, where such biomarkers are prominent. In addition, as a space-based telescope, it will be able to analyze the atmospheres of Earth-like planets outside our solar system without weeding out the similar signatures of Earth's own atmosphere.

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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_science/~3/ftCCORIXq54/130424112318.htm

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Missouri House Backs Income Tax Cut, Sales Tax Hike ? CBS St ...

JEFFERSON CITY, Mo. (AP) ? Envious of income tax cuts in neighboring states, Missouri?s Republican-led House voted Wednesday to slice income taxes for individuals and businesses while imposing a higher sales tax that would fund schools and roads.

The legislation would mark the most significant change to Missouri?s tax code in at least a couple of decades. But Democratic Gov. Jay Nixon has voiced opposition to similar versions, citing the potential to shift the tax burden away from corporations and the affluent onto those who can least afford the higher sales tax.

The House passed the legislation by a 90-68 vote, though some members of the Republican supermajority defected to join Democrats in opposition. The bill now must go back to the Senate, because the House made changes to a version passed last month in the other chamber.

Republican supporters in both chambers have touted the tax changes as an important counter-move in an ongoing battle for businesses among Missouri and its neighboring states such as Kansas, Oklahoma and Tennessee. Kansas passed an income tax cut last year. Oklahoma, which cut its income taxes over the past couple decades, appears poised to make another reduction this year. And Tennessee doesn?t tax individual income.

Missouri?s GOP lawmakers asserted that the state hasn?t cut its individual income tax rates since 1921.

?We have to do something, or our state is going to lose out,? said Rep. Andrew Koenig, R-St. Louis County, who handled the bill.

Legislative researchers project the House plan would eventually reduce state revenues by $438 million annually. The Missouri Budget Project, a St. Louis-based nonprofit that has run ads against the proposed tax changes, estimates that the bill could eventually reduce state revenues by almost $1 billion annually.

Democrats suggested the proposed tax changes would bust the state?s budget.

?We?re being really irresponsible here,? said Rep. Jon Carpenter, D-Kansas City.

Under the House plan, the top individual income tax rate of 6 percent would be cut by two-thirds of a percentage point over five years, so long as state revenues continue to rise by $100 million annually. The corporate income tax would be gradually reduced by three-quarters of a percentage point. And a new 50 percent deduction would be phased in for business income reported on individual income tax returns.

The bill also contains several provisions meant to aid lower-income families and small businesses. It would nearly double the personal deduction on individual income taxes for those with adjusted gross incomes below $20,000 annually. It also would exempt the first $25,000 of corporate income from taxation.

To partially offset that lost revenue, the legislation would gradually increase the state sales tax by three-fifths of a cent, with most of those revenues earmarked to schools and a smaller portion dedicated to state roads and construction of a new mental hospital. Like the income tax cuts, the sales tax increase would take effect only if state revenues continue to rise by at least $100 million annually.

The various tax changes would start in 2014 and be fully implemented in 2018.

The legislation ?creates a tax structure that?s going to prompt growth and investment in Missouri,? said Rep. Todd Richardson, R-Poplar Bluff.

No Republicans spoke against the legislation during a debate that was cut off by GOP leaders after an hour and a half. But 19 Republicans voted against the legislation, leaving it far shy of the 109 votes that would be needed to override a potential gubernatorial veto.

Rep. Denny Hoskins, R-Warrensburg, said in an interview that he voted ?no? primarily because of the potential hit on government revenues and services.

?I?m concerned, when we?re not fully funding the (school) formula now, how another tax reduction could affect our schools,? Hoskins said.

The House bill differs in several ways from the version previously passed by the Senate. For example, the Senate plan had a larger individual income tax cut of three-quarters of a percentage point and a smaller sales tax hike of one-half cent that would have gone to general state revenues instead of being earmarked for specific purposes.

The House version also includes an amnesty period from this August through October that would allow those with overdue Missouri taxes to pay up without penalties or interest. Supporters of that provision hope it can prompt the payment of tens of millions of tax dollars that Missouri might otherwise not collect.

? Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://stlouis.cbslocal.com/2013/04/24/missouri-house-backs-income-tax-cut-sales-tax-hike/

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Google Buys Wavii For North Of $30 Million

Google has finally closed the deal on Wavii, a natural language processing startup, for a price that is more than $30 million, we're hearing from a legitimate source. Both Apple and Google were competing for the Seattle-based startup, and Google eventually won. Apple wanted the company, which developed its own aggregation technology and natural summarization algorithms, for its Siri division. The 25-person-strong team including founder Adrian Aoun will be moving down from Seattle to join Google's Knowledge Graph division.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/w4gtkjohp7U/

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More Money For Utah & Other Mountain-Area Startups: Kickstart Raises $26M Second Fund

Kickstart Seed Fund (not to be confused with crowdfunding giant Kickstarter), has raised $26 million for a second fund to invest in Utah-based startups, along with others in the "Mountain West" region of the U.S. Since its launch in 2008, with a $8 million fund raised by Managing Director Gavin Christensen, Kickstart has invested in 24 companies, including two exits with?Panoptic Security in November of 2012 and GroSocial in January of 2013.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/T4zAyHrBWng/

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