Venezuela's Chavez still has 'severe' respiratory problem

CARACAS (Reuters) - - Venezuelan President Hugo Chavez is still suffering from a lung infection that has hindered his breathing as he battles to recover from December 11 cancer surgery, the government said on Thursday.

"Commander Chavez has faced complications as a result of a severe lung infection," Information Minister Ernesto Villegas said, reading the latest official update on the president's condition in a hospital in Cuba.

"This infection has caused a breathing insufficiency that requires Commander Chavez to strictly comply with medical treatment," the communiqu? added, giving no further details.

(Reporting by Diego Ore; Writing by Andrew Cawthorne; Editing by Paul Simao)

Source: http://news.yahoo.com/chavez-still-severe-respiratory-problem-venezuela-government-022640452.html

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Pop Singer Psy to Live in (Gangnam) Style in Los ... - AOL Real Estate

We've all heard the viral pop song "Gangnam Style," a song written about the flashy, ostentatious lifestyle of Gangnam, a wealthy neighborhood in Seoul, South Korea. It's maybe no surprise then that its singer, Psy, is living "Gangnam Style" himself -- having just snapped up a superbly swanky condo in Los Angeles.

The world-famous pop star and his wife, Hye-yeon Yoo, reportedly purchased the condo in the exclusive Blair House on Wilshire Boulevard (pictured at left) for $1.249 million -- in cash. The two-bedroom luxury condo features city views, high ceilings and access to a saltwater swimming pool and tennis court.

The property sprawls over 2,776 square feet and boasts massive windows and contemporary fixtures. According to TMZ, the star plans to completely remodel the condo. Zillow states that the pop singer recently signed a record deal with Scooter Braun -- who also manages Justin Bieber -- and the purchase of this property only solidifies his "transition" to America.

Source: http://realestate.aol.com/blog/2013/01/02/pop-singer-psy-to-live-in-gangnam-style-in-los-angeles/

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Avis buying Zipcar in $500 million all-cash deal

14 hrs.

Paul A. Eisenstein , The Detroit Bureau

The car-share business has just gotten a big vote of confidence from rent-a-car giant Avis, which is buying Zipcar for $491.2 million.?

The move is the biggest deal yet in the nascent market for alternatives to traditional automotive rental?systems where users might seek a set of wheels for trip of as little as an hour. Founded in 2000, Zipcar is generally seen as the leader in the car-share market and now claims 760,000 members.??

The Detroit Bureau:?Ford Focus Expected to Be #1 Best-Seller for 2012

?By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our company to better serve a greater variety of consumer and commercial transportation needs,? Avis Chairman and CEO Ronald Nelson said in a statement accompany the Wednesday morning announcement.?

The car-sharing concept has begun to revolutionize the rental business, attracting young and often affluent buyers, especially in urban areas and around college campuses. Ford Motor Co. last year announced a partnership that placed hundreds of new Ford Focus models on campuses around the country, an alliance the maker hoped would eventually convince students to buy the car once they graduated.

The challenge for many of the new competitors in the field has been to raise capital to expand, industry experts note.? Zipcar has so far spread into 20 metropolitan markets in the U.S., Canada and Europe.

?It?s a fact of life in those places that people want the convenience of a car but don?t want the hassle of owning one,? noted Dr. David Cole, chairman emeritus of the Center for Automotive Research, or CAR, based in Ann Arbor, ?so, I think the carsharing concept is going to work.??

The Detroit Bureau:?Approval of Toyota Settlement Doesn?t End Unintended Acceleration Nightmare

The most significant difference between a car-sharing service and a traditional rental company like Avis Budget Group Inc. is in providing community-based access to vehicles that can be rented on a short-term basis, rather than by the day or week.

?We?re targeting a generation that only knows how to buy music by the song so paying for a car by the hour is a natural for them,? Scott Griffith, Zipcar?s chairman and CEO, told TheDetroitBureau.com in an earlier interview.

Several key executives, including Zipcar Chairman Griffith and Chief Operating Officer Mark Norman, are expected to remain with the firm, though they will relocate to new headquarters in Boston.

Zipcar went public in 2011 and in November said it anticipated ending its fiscal year with its first annual profit of $4 million. It had ended the third quarter with a 15% jump in revenue, which climbed to $78 million.

Observers were not entirely surprised by the announcement, especially in light of the consolidation in the overall rental industry.? Rival Hertz just last month locked down a takeover of the Dollar Thrifty Automotive Group.?

The Detroit Bureau:?Beyonce to Get New C7 Corvette at Super Bowl

Avis said it expects significant ?synergies? as part of the deal.? It could ease pressure on Zipcar on weekends and other occasions when it struggles to maintain a large enough fleet to meet demand. It could lead the car-sharing company to expand into other metropolitan markets.

Avis itself sees the opportunity to save between $50 million and $70 million through the acquisition ? for which it will pay $12.25 for Zipcar shares, a 49% premium over the December 31, 2012 closing price of $8.24. ?That is still a significant decline from the strike price of $18 a share for Zipcar stock during its April 2011 IPO.

Under Avis, Zipcar will face a number of other car-sharing services, some looking to take even more radical approaches, such as RelayRides.? That services concept not only skips the traditional busy rental counter but allows individual vehicle owners to put their cars, trucks and crossovers on the market for short-term rentals.?

Last summer, RelayRides announced a partnership with General Motors? OnStar service that lets a renter access a vehicle without having to first connect with the owner to get the keys.?

Source: http://www.nbcnews.com/business/avis-buying-zipcar-500-million-all-cash-deal-1C7785094

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Ty Pennington to host new HLN series

NEW YORK (AP) ? Ty Pennington is doing some traveling again, this time for the HLN television network.

HLN said Wednesday that Pennington, who stars in "Extreme Makeover: Home Edition," will host a monthly series called "American Journey." It will focus on people with unusual lifestyles, and debuts Saturday, Jan. 12. Each episode will air multiple times over the weekend on the network formerly known as CNN Headline News, with a new edition starting each month.

Early episodes will focus on lobstermen and Delta blues musicians.

Pennington said he wants to follow the growing subculture of entrepreneurs and creative thinkers trying to rebuild the country.

Source: http://news.yahoo.com/ty-pennington-host-hln-series-181321827.html

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Cornell Supplement Economics Will help back!!!

Hi guys this is my essay for Cornell. Please help me out and be as critical as possible! I will be glad to help back if you would like me to. (:

College of Arts and Sciences:

Describe your intellectual interests, their evolution, and what makes them exciting to you. Tell us how you will utilize the academic programs in the College of Arts and Sciences to further explore your interests, intended major, or field of study.

Growing up in Beijing, the capital of one of the world?s fastest developing countries, the dynamics of the city changed with breathtaking speed. Miles of cornfield disappeared as the coal burning factories popped up and spewed out blackness into the once brilliant blue skies. Shopping malls sprouted all over the city and soon the streets filled with bicycles were traded for shiny new cars.
These were childhood observations that with the opportunity of enrolling in HL economics I finally began to understand. And with the models and explanations, the world itself began to make sense. ?Everything is economics and economics is everything?, thought I in an attempt to be profound. But truly, with my desire to understand the modern society, I have developed a deep appreciation for the subject?s diversity.
With the relevancy of economics as the main reason to further my study, my criteria for choosing a program is one that not only has excellent teaching, but also emphasizes and celebrates the diversity of the subject. These principles are representative of Cornell?s College of Arts and Sciences.
In addition to the honor of working with an exceptionally large number of economists on the faculty, there are opportunities to aid in ongoing research and conduct my own. This is highly attractive to me because research would provide me the chance to utilize the knowledge and skills I acquire from class to truly contribute towards society. Also, as part of the honors program or department?s program of independent study, I would have the resources and guidance to work towards aspects of personal interest. As an economics enthusiast but undecided in a specific field, this opportunity could pave the path of my future career.
Furthermore, with over 2000 courses to choose from, the opportunities are endless in exploring interests and developing new ones. With the college?s dedication to the liberal arts, I would be encouraged, in fact required to take a variety of different courses. My top choices after perusing Fall 2012 course descriptions are PSYCH 4840 - Goals, Needs, and Desires and 4655 Topics in Social & Political Philosophy. Courses in other subjects will not only instill in me the ability to approach problems from different angles, but also contribute towards economics, enriching and interlacing it with other disciplines. Perhaps I may even end up taking on one or two other majors, providing me a cutting edge to the average economics degree.
The steep slope of improvement in my high school grades demonstrates my possession of the necessary maturation and focus to become part of Cornell?s College of Arts and Sciences. Among those that share my passion, I would be able to comfortably engage in the academic atmosphere, fostering deeper understanding and contributing my own ideas. From the dedication to the liberal arts to the excellent teaching and opportunities for research, study abroad, and internships, all the while the Knight?s institute providing literary skills fundamental to any profession, I regard Cornell?s College of Arts and Sciences as the quintessential next step.

Source: http://www.essayforum.com/undergraduate-essays-2/cornell-supplement-economics-help-back-47349/

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Macau gambling revenue hits record $38B in 2012 | Economy | GMA ...

Hong Kong?? Macau's gambling revenue jumped 13.5 percent to a record $38 billion in 2012, official figures showed Wednesday, despite the pace of growth in the world's largest gaming hub slowing from a year earlier.

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Gaming revenue rose to 304.14 billion patacas from 267.87 billion patacas in 2011, according to statistics posted on the official Gaming Inspection and Coordination Bureau website.

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But the pace of growth slowed from 2011, when revenues surged 42 percent year-on-year to $33.47 billion, as China's economy slowed and affected the mainland Chinese high-rollers who flock to the gaming tables in Macau.

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Despite that, analysts said Macau's better-than-expected December gaming revenue ? which rose 19.6 percent year-on-year to 28.24 billion patacas ? suggested a rebound was in sight.

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This compared to a 3.2 percent year-on-year growth in October and 7.9 percent in November

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"The strong December (performance) represents a recovery in gaming revenue growth," Aaron Fischer, head of consumer and gaming research at brokerage CLSA, told AFP.

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Fischer said the brokerage had forecast revenue would continue grow at a moderate 9.0 percent in 2013.

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"However, with initial signs of macro-economic recovery in China, infrastructure improvements and a more stable political environment, our current gaming revenue estimate might appear to be on the conservative side."

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The former Portuguese colony, the only part of China where casino gambling is legal, overtook Las Vegas as the world's gaming capital in terms of revenue after the sector was opened up to foreign competition in 2002.

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The boom stands in sharp contrast to US venues such as Las Vegas, previously a byword for gambling but which is now suffering the effects of the global downturn.

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But the high growth has also caused the Chinese and Macau governments to express concern about the city's gambling-dependent economy.

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Six firms are licensed to operate casinos in Macau, which was handed back to Beijing in 1999, and they have transformed the Cotai Strip, a reclaimed swamp, into a glittering center for gamblers. ? Agence France-Presse

Source: http://www.gmanetwork.com/news/story/288549/economy/business/macau-gambling-revenue-hits-record-38b-in-2012

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Scotch whisky employees 'more productive than City of London ...

2nd January, 2013 by Andy Young

New research carried out by 4-consulting on behalf of the Scotch Whisky Association (SWA) found that the industry is ?experiencing a second golden age?.

In total Scotch Wwhisky adds ?4.2bn to Scotland?s economy, made up of ?2.9bn from the industry itself, with the remaining ?1.3bn coming through the industry?s supply chain. The industry and supply chain support around 36,000 jobs in Scotland, which puts productivity at around ?275,000 for each industry employee. This number means Scotch whisky outperforms most other industries, and the report claims Scotch whisky employees are adding 57% more value per head than workers in the City of London.

Gavin Hewitt, chief executive of the Scotch Whisky Association, said: ?This new research is further evidence of the key role Scotch whisky plays in the Scottish economy. The demand for Scotch whisky is coming increasingly from the world?s fastest growing markets. In comparison with other Scottish industries, Scotch whisky already enjoys an enviable export position across a wide spread of emerging economies.

?The report shows Scotch whisky is likely to play an increasingly important role in Scotland?s export markets. The momentum of growth needs to be better nurtured by both the UK and Scottish governments. Scotch whisky underpins their ambitions for export-led recovery.?

The research also found that Scotch whisky is a key factor in Scotland?s total international export markets, accounting for 55% of the growth since 2002. Scotch whisky exports are now worth more than ?4bn a year, which puts it ahead of refined petroleum, which is worth ?3bn and business services worth ?2.5bn.

Scotch whisky producers have also committed to a further investment of ?2bn in Scotland. The research, titled ?Scotch Whisky & Scotland?s Economy ? A 100-Year Blend? was commissioned by the SWA to mark its centenary.

This article was published on Wednesday, January 2nd, 2013 at 11:04 am. You can follow any responses to this article through the RSS 2.0 feed. You can skip to the end and leave a response.

Source: http://www.thedrinksbusiness.com/2013/01/scotch-whisky-more-productive-than-city-of-london/

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