Stocks slide after euro falls to new 4-year low

NEW YORK (AP) -- Investors uneasy about the news coming out of Europe Tuesday went back to selling stocks sharply lower. The falling euro and news that German regulators plan to limit some kinds of short selling fed the drop.
The Dow Jones industrial average closed down almost 115 points after giving up an early gain of 93. The Dow and broader indexes lost more than 1 percent.
The euro gave stocks a boost early in the day when European Union countries sent bailout money to Greece. The move raised confidence about Europe's ability to prevent its debt crisis from spreading to other economies including the U.S.
By afternoon, though, the upbeat mood faded and the euro fell. That sapped the stock market's strength. Treasury prices rose after demand for safer investments increased.
The euro, the currency shared by 16 European nations, has been driving stock trading for weeks as investors interpreted its slide as a sign of continuing economic problems in Europe. It hit a new four-year low of $1.2160 on Tuesday.
Meanwhile, Germany said it is banning "naked" short selling, which occurs when traders bet on a stock or investment that they doesn't own. The ban covers government debt certificates and shares of several financial companies. The government said it was imposing the rule in hopes of keeping the financial markets stable.
Investors anxious about Europe's problems were further rattled by Germany's move. Naked short selling was cited as one of the factors in world markets' turbulence during the 2008 financial crisis. The latest step brought reminders of the desperation that U.S. regulators signaled in trying to stabilize the market and underscored a fear that a further drop in the euro will continue to pound world markets.
"If Europe really slows, the threat would be that it could take down the rest of the global economy," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland. He noted, however, that most economic numbers don't suggest that a recovery is stalling.
McCain said long-term investors should gather more evidence before making big changes to their portfolios.
"The markets tend to move in excesses of optimism and pessimism," he said.
The Dow fell 114.88, or 1.1 percent, to 10,510.95. It has fallen three of the past four days.
The Standard & Poor's 500 index fell 16.14, or 1.4 percent, to 1,120.80, while the Nasdaq composite index fell 36.97, or 1.6 percent, to 2,317.26.
Major stock indexes are down about 8 percent from their 2010 highs in late April. That puts the market close to the threshold for a correction, which is usually defined as a drop of 10 percent to 20 percent.
Bond prices jumped, driving yields lower. The yield on the benchmark 10-year Treasury note fell to 3.35 percent from 3.50 percent late Monday.
Stock trading has been volatile for weeks. The Dow rebounded from a drop of 184 points to end Monday with a gain of about 6 points after the euro strengthened.
Mike Shea, managing partner at Direct Access Partners LLC in New York, said that with so many unanswered questions about the ballooning debts in Europe it isn't surprising to see traders selling.
"There is a prudent reduction of risk," Shea said.
The concerns about the ban on naked short-selling hit large banks, a sign that traders are uneasy about the possible chilling effect that Germany's moves might have on the markets and in turn, financial companies. Traders are also watching the financial overhaul bill making its way through the Senate. Debate could end as soon as Wednesday. Some traders are concerned that tighter rules will hurt bank profits.
Wells Fargo & Co. fell $1.38, or 4.3 percent, to $30.59, while Citigroup Inc. fell 13 cents, or 3.4 percent, to $3.73.
Gold fell $13.50 to $1,214.60 an ounce, while crude oil fell 54 cents to settle at $69.41 per barrel on the New York Mercantile Exchange.
While so much attention has focused on Europe in recent weeks, investors have largely ignored signs of economic growth. Stocks had been posting solid gains earlier in the year on steady signs of improvement in the U.S. economy. Encouraging signals on the economy gave early support to stocks Tuesday. The Commerce Department said home construction jumped 5.8 percent in April, more than expected and the strongest level since late in 2008.
John Merrill, chief investment officer at Tanglewood Wealth Management in Houston, said investors are doing some mental juggling. They see signs that the U.S. economy is strengthening but still have concerns that Europe's problems will undermine the global economy's rebound.
"There are just two alternative themes and it just depends on where the focus is," he said.
Wal-Mart Stores Inc. was the sole stock among the 30 that make up the Dow Jones industrials to rise. The world's largest retailer posted better-than-expected earnings. Investors also look to companies that sell consumer staples as a safe investment in weak economies. The stock rose 98 cents, or 1.9 percent, to $53.71.
More than three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6.2 billion shares, compared with 5.9 billion Monday
The Russell 2000 index of smaller companies fell 12.96, or 1.9 percent, to 682.75.
Britain's FTSE 100 index rose 0.9 percent, Germany's DAX index gained 1.5 percent, and France's CAC-40 rose 2.1 percent. Japan's Nikkei stock average rose 0.1 percent.

 Credits: AP Associate Press

Se extiende TPS para nicaragüenses por 18 meses más

Extension del TPS para Nicaraguenses

Published Date: 05/05/2010

El Departamento de Seguridad Nacional (DHS, por sus siglas en inglés) extenderá por 18 meses el Estatus de Protección Temporal (TPS, por sus siglas en inglés) para los ciudadanos de Nicaragua (y aquellos ciudadanos sin nacionalidad cuya última residencia haya sido en Nicaragua) hasta el 5 de enero del 2012. Esta extensión no aplica a los nicaragüenses que entraron a los Estados Unidos después del 30 de diciembre del 1998. Ciertos nacionales de Nicaragua que no hayan solicitado el TPS previamente pueden ser elegibles para registrarse bajo las provisiones de registro tardío. La notificación en el Registro Federal anunciando esta extensión tiene más detalles acerca de la misma.

TPS Extension for Honduras

18-Month Extension of Temporary Protected Status for Honduras

Publication Date: 05/05/2010

  

The Department of Homeland Security (DHS) will extend Temporary Protected Status (TPS) for 18 months, through Jan. 5, 2012, to eligible nationals of Honduras and people having no nationality who last habitually resided in Honduras. This extension does not apply to Hondurans who entered the United States after Dec. 30, 1998. Certain nationals of Honduras who have not previously applied for TPS may be able to register under the late initial registration provisions. Further details on this extension of TPS for Honduras appear in the Federal Register Notice that announces this extension.

Se extiende TPS para hondureños por 18 meses más

El Departamento de Seguridad Nacional (DHS, por sus siglas en inglés) extenderá por 18 meses el Estatus de Protección Temporal (TPS, por sus siglas en inglés) para los ciudadanos de Honduras (y aquellos ciudadanos sin nacionalidad cuya última residencia haya sido en Honduras) hasta el 5 de enero del 2012. Esta extensión no aplica a los hondureños que entraron a los Estados Unidos después del 30 de diciembre del 1998. Ciertos nacionales de Honduras que no hayan solicitado el TPS previamente pueden ser elegibles para registrarse bajo las provisiones de registro tardío. La notificación en el Registro Federal anunciando esta extensión tiene más detalles acerca de la misma.

NOTA: La fechas para registrarse no han sido publicadas todavia. Este pendiente para saber la fecha que oficialmente puede someter su TPS. Ya que por el momento, es un aviso que ha sido extendido por otros 18 meses.

Credits: www.ucis.gov  US Immigration and Naturalization Services

How to Start a Consulting Business

A consultant's job is to consult. Nothing more, nothing less. It's that simple. There's no magic formula or secret that makes one consultant more successful than another one.
But what separates a good consultant from a bad consultant is a passion and drive for excellence. And--oh yes--a good consultant should be knowledgeable about the subject he or she is consulting in. That does make a difference.
You see, in this day and age, anyone can be a consultant. All you need to discover is what your particular gift is. For example, are you very comfortable working around computers? Do you keep up with the latest software and hardware information, which seems to be changing almost daily? And are you able to take that knowledge you have gained and turn it into a resource that someone would be willing to pay money for? Then you would have no trouble working as a computer consultant.

According to a recent survey, here are the top 10 reasons organizations hire consultants:

A consultant may be hired because of his or her expertise,  a consultant may be hired to bring new life to an organizationor, a consultant may be hired to provide much-needed objectivity, a consultant may be hired to create a new business, etc.

BENEFITS: There are many advantages to having a home office. Among them are:


Low overhead expenses. You don't have to worry about paying rent or utilities for an office; you will appreciate this feature until you establish a regular client base.

Flexibility. There is little doubt that operating as a consultant at home gives you a great deal of flexibility. You can set your own hours and take time off as you need it.

No rush-hour nightmares. For anyone who has had to commute to and from a job during rush hour, this will be a welcome change of pace.

Your home office space will most likely be tax-deductible. The IRS has relaxed the rules for people who work at home, but check with your account or income tax preparer to see if you qualify for this deduction.

So, there are many reasons for a consulting job, you just need to know what your calling and passion is. The sky is the limit.

Credits: THE ENTREPRENEUR

Taken from article published by: smallbizbooks.com

Hubble space telescope

WASHINGTON (AFP) – Astronomers around the world this weekend mark the 20th anniversary of the launching of the iconic Hubble, NASA's first orbiting space telescope that has revolutionized human understanding of the universe.

More than any other instrument, the Hubble has stimulated a modern-day infatuation with deep space, beaming to Earth the most spectacular images ever taken of faraway galaxies and the births and deaths of stars -- and along the way helping scientists make some of the most important discoveries of our time.

Hubble was launched aboard space shuttle Discovery on April 24, 1990 and deployed into orbit the following day. Piloting the shuttle on that historic mission was astronaut Charles Bolden, who went on to become the US space agency's administrator last year.

In the two decades since, Hubble has enabled astronomers to peer through the celestial curtain to set the age of the universe at 13.7 billion years old.

"Hubble is undoubtedly one of the most recognized and successful scientific projects in history," said Ed Weiler, associate administrator for NASA's Science Mission Directorate.

From its unique perch some 570 kilometers (353 miles) above Earth, the telescope is our eye on the cosmos, snapping pictures of more than 30,000 celestial objects, some of them located on the far ends of the universe.

The quality of Hubble images is 10 times clearer than pictures from the most powerful ground-based telescopes, because it is beyond the Earth's atmosphere, which distorts the view of ground telescopes.

"It's that extreme clarity that gives us the feeling we've traveled out into space to see these objects," said Jon Grunsfeld, an astronaut who did repair work on Hubble during two shuttle missions.

"It really is our time machine."  Although Hubble is universally acknowledged today as a scientific gem, it had a rocky start: once it was deployed scientists quickly discovered that the telescope's main mirror had a slight blemish, and a shuttle mission had to be sent up to install a new mirror.

When it became fully operational in late 1993 the Hubble began transmitting pictures that stunned the world.
One of Hubble's best known images is of the vast Carina Nebula, an interstellar cloud of dust, hydrogen gas, helium gas and plasma that lies some 6,500 light years away from Earth. Each light year is about 9.5 trillion kilometers, or 5.9 trillion miles.

The Hubble also photographed supernovas, gigantic explosions that mark the death of a star.

It revealed the existence of black holes at the center of practically all galaxies. Until then scientists only suspected the existence of black holes.

Thanks to data collected by the Hubble, astronomers have learned that the universe is expanding at an accelerating rate.

This acceleration is caused by a mysterious force called dark energy, which makes up nearly 75 percent of the universe and balances the force of gravity.

Around five percent of the cosmos is made up of visible matter, while 20 percent of it is so-called dark matter.

Other discoveries credited to Hubble include the detection of the first organic molecule in the atmosphere of a planet orbiting a distant star.

It also observed small forming galaxies that emitted rays of light when the universe was less than a billion years old.

In the Earth's solar system, Hubble has observed radical changes in the direction of the winds on Saturn, and shown that Neptune has seasons.

The Hubble, the result of collaboration between the National Aeronautics and Space Administration and the European Space Agency (ESA), measures 13.2 meters (43.5 feet) long, has a maximum diameter of 4.2 meters and weighs 11,110 kilos (24,500 pounds).

A 2009 mission of shuttle Atlantis gave Hubble an extreme makeover, fitting it with a new, more powerful camera and spectrograph, sprucing up its scientific instruments, and extending Hubble's life for at least five years.

"The new and improved Hubble will continue to have a positive impact on the world for decades with many of its greatest discoveries yet to come," said Weiler, who described it as "an icon in the American psyche."

But the mission was bittersweet, as the repair job marked the end of NASA's human missions to the beloved Hubble.

Its successor is the James Webb Space Telescope, an infrared optimized space observatory scheduled to be deployed in 2014.

By Jean-Louis Santini Jean-louis Santini – 1 hr 54 mins ago

P.S. Please check out the IMAX 3D movie about "The Hubble" at California Science Center.

New way to guide a car

BERLIN – Tired of spinning that steering wheel? Try this: German researchers have developed a new technology that lets drivers steer cars using only their eyes.
Raul Rojas, an artificial intelligence researcher at Berlin's Free University, said Friday that the technology tracks a driver's eye movement and, in turn, steers the car in whatever direction they're looking.
Rojas and his team presented the technology-packed prototype under a clear blue sky at an airport in the German capital.
The Dodge Caravan crisscrossed the tarmac at the abandoned Tempelhof Airport, its driver using his line of sight to control the car. The car's steering wheel was turning as if guided by ghostly hands.
The technology called eyeDriver lets the car drive up to 31 mph (50 kph). "The next step will be to get it to drive 60 miles per hour," Rojas said.
Ultimately, however, the Mexican-born researcher is aiming for even more: "The biggest challenge is of course to drive in a city with pedestrians and lots of obstacles."
For now, exercises remain relatively simple. The Dodge chases a pedestrian or another car across the tarmac and shows his agility and even drives backward — the driver only has to look into the rear mirror to guide the car.
However, it remains unclear when — or if — the technology will be commercialized as questions about safety and practicability abound: What about looking at a cute girl next to the road for a few seconds? Not to mention taking phone calls or typing a text while driving.
But the researchers have an answer to distracted drivers: "The Spirit of Berlin" is also an autonomous car equipped with GPS navigation, scores of cameras, lasers and scanners that enable it to drive by itself.
"The car can do everything. It can drive autonomously or it can be guided by a driver's eyes," Rojas said. The compromise is a mode that has the car driving on its own, basing its decisions on input from scanners and cameras, and only requires the driver to give guidance at crossroads.
"The car stops at intersections and asks the driver for guidance on which road to take," the researchers say. A few seconds of attention with the driver looking in his desired direction get the car flowing again.
To demonstrate the car's autonomy, Rojas at one point jumped in front of the car — which was at that moment driving at perhaps 10 miles per hour — and the Dodge was immediately stopped by the cameras that had detected the obstacle. "I was lucky this time," Rojas said jokingly.
While Rojas escaped, driver David Latotzky sat calmly on the passenger seat, wearing a bicycle helmet that is key to the functioning of the EyeDriver: One camera mounted on top of it monitors the street, a second one constantly keeps track of the driver's eyes' movements.
"We chose a bicycle helmet because they're the most ergonomic ones," Rojas said. Selling that technology to customers, however, might be a tough call — it the driver look like he or she came straight out of a Star Wars movie.
But if using your eyes for steering seems to tricky anyway, the researchers already have an alternative: Use your iPhone instead. In fall last year they presented a technology that allows to use Apple's smart phone as remote control for the car."Autonomous driving systems may considerably change our mobility in the future," Rojas said. And should the technology-packed vehicle have a major bug, there's still an old fashioned way of stopping it. Two big external emergency buttons at the rear of the car allow people outside to shut down all systems.

By JUERGEN BAETZ, Associated Press Writer Juergen Baetz, Associated Press Writer – Fri Apr 23, 12:15 pm ET

FACEBOOK and Its Future

Facebook has revamped its application development platform to make it possible for the social-networking site and other Web sites to mesh what they know about their end-users and automatically personalize the experience people have online.
For example, a visitor to a participating news site or a music-sharing site could be served up content upon arrival based on previously stated preferences on Facebook or participating sites. The visitor could also see a list of Facebook friends who are already registered on the other site, and even what comments they have posted there.
"People can have instantly social and personalized experiences everywhere they go," said Mark Zuckerberg, Facebook's CEO, during a keynote speech Wednesday at the company's F8 conference for developers.
Making this possible is Facebook's Open Graph API (application programming interface), designed to allow Facebook and participating sites to blend their respective user "social graphs" to customize their site experience for each individual visitor. Facebook is also releasing the Open Graph Protocol, a system to mark up objects in a uniform way so that they can be understood the same way by Facebook and third-party sites.
Facebook is also making available a series of iFrame plug-ins that developers can drop into their Web pages to re-create Facebook functionality, such as the "Like" button the company announced this week. This button lets end-users tell Facebook and external Web sites that they're interested in specific news articles, songs and other content.
Other functionality that can be replicated via plug-ins includes Facebook's activity stream and log-in operation as well as a new recommendation engine to generate personalized recommendations for site visitors. While Facebook has been moving toward this vision for some time, the company has now significantly simplified the tools and processes for developers to build applications and Facebook integration into their sites, said Bret Taylor, head of Facebook Platform products. "The Facebook platform can be both powerful and simple," he said.
Among the partners joining Facebook in Wednesday's announcement is Microsoft, with which it built a joint site called Docs for Facebook users to collaborate on online documents. This, at first glance, looks like it could compete against the similarly named Google Docs suite of hosted office productivity applications. Other partners include customer review site Yelp and music site Pandora.

Facebook's goal is to move from a Web that's connected via hyperlinks to one "where the default is social" and has users with real identities at its center, Zuckerberg said. Neither Zuckerberg nor Taylor spoke much about the implications, if any, of the announcements on users' privacy, always a big question for Facebook, where people store and share a lot of very personal information and content.

Credits:  By Juan Carlos Perez, IDG News Service