Friday, December 7, 2012

Oil rises ahead of China economic data releases

BANGKOK (AP) ? Oil prices rose moderately Friday, clawing back some of the ground lost during a sharp sell-off the day before, as traders awaited a slew of economic data from China.

Benchmark oil for January delivery was up 29 cents to $86.55 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.62, or 1.8 percent, to finish at $86.26 per barrel in New York.

Prices moved higher ahead of the anticipated release of inflation, retail sales and factory output data from China on Sunday.

Analysts at Gao Hua Securities Co. in Beijing said they expect industrial production growth for November to rise to 10 percent from a year earlier, up from 9.6 percent in October.

Signs of a production uptick in the world's No. 2 economy ? often referred to as the world's factory because of its colossal manufacturing output ? usually help support energy prices, since China consumes huge amounts of energy to fuel its economy.

On Thursday, the price of oil fell after the European Central Bank predicted a bleak year ahead for the region's economy but stopped short of offering new measures to boost growth

The ECB left its key interest rate unchanged at a record low, and the bank cut its 2013 economic forecast for the region to negative from positive.

The 17 countries that use the euro currency are in a recession after a massive debt crisis followed by government spending cuts and tax hikes that have hurt growth.

Brent crude, which is used to price international varieties of oil, rose 20 cents to $107.23 per barrel in London.

In other energy futures trading on the New York Mercantile Exchange:

? Heating oil rose 0.3 cent to $2.947 per gallon.

? Wholesale gasoline rose 0.3 cent to $2.60 per gallon.

? Natural gas rose 0.4 cent to $3.67 per 1,000 cubic feet.

(Copyright 2012 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Source: http://cnsnews.com/news/article/oil-rises-ahead-china-economic-data-releases

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Japan earthquake brings small tsunami to northeastern disaster zone

Updated at 6:04 a.m. Eastern

TOKYO A strong earthquake struck Friday off the coast of northeastern Japan in the same region that was hit by a massive earthquake and tsunami last year. A city in the region reported that a small tsunami had hit, but there were no reports of injuries or damage.

The Japan Meteorological Agency said the earthquake had a preliminary magnitude of 7.3 and struck in the Pacific Ocean off the coast of Miyagi prefecture at 5:18 p.m. (0318 Eastern). The epicenter was 6.2 miles beneath the seabed.

After the quake, which caused buildings in Tokyo to sway for at least several minutes, authorities issued a warning that a tsunami potentially as high as 2.19 yards could hit. Ishinomaki, a city in Miyagi, reported that a tsunami of 1 yard hit at 6:02 p.m. (0402 Eastern).

The Pacific Tsunami Warning Center said there was no risk of a widespread tsunami, and subsequently dropped all tsunami warnings for the Japanese coast.

Miyagi prefectural police said there were no immediate reports of damage or injuries from the quake or tsunami, although traffic was being stopped in some places to check on roads.

Shortly before the earthquake struck, NHK television broke off regular programming to warn that a strong quake was due to hit. Afterward, the announcer repeatedly urged all near the coast to flee to higher ground.

Adam Ezard, a British expat living in Tokyo, tells CBSNews.com that Japanese media responded much more aggressively to the Friday quake than they had done in the past, with virtually all channels breaking into their regular programming, and NHK even giving information in multiple languages for the first time.

The response is an indication of how deeply the 2011 disaster affected the densely-populated island nation's psyche.

The magnitude-9.0 earthquake and ensuing tsunami that slammed into northeastern Japan on March 11, 2011, killed or left missing some 19,000 people, devastating much of the coast. All but two of Japan's nuclear plants were shut down for checks after the earthquake and tsunami caused meltdowns at the Fukushima Dai-Ichi nuclear plant in the worst nuclear disaster since the 1986 Chernobyl disaster.

Immediately following Friday's quake, there were no problems at any of the nuclear plants operated by Fukushima Dai-Ichi operator Tokyo Electric Power Co., said a TEPCO spokesman, Takeo Iwamoto.

Source: http://feeds.cbsnews.com/~r/CBSNewsWorld/~3/voS1I6ZkcJg/

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Thursday, December 6, 2012

Video: German Parliament Approves Bailout for Greece

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Source: http://video.msnbc.msn.com/cnbc/50088743/

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Fla. teachers score well in new state eval system

MIAMI (AP) -- Nearly 97 percent of Florida teachers were rated as "effective" or "highly effective" under a controversial new evaluation system released by state officials Wednesday, but within hours they acknowledged there were problems with the results.

The scores varied widely among school districts, leaving critics to questions their validity.

There were also concerns about the accuracy of the data in the value-added model, or VAM, which is derived from student test scores. Hillsborough County was listed as having about 23,000 teachers, even though only 13,000 teachers were evaluated.

"The numbers appear to be questionable so we're having a hard time coming to any conclusions based on the data," said Hillsborough County school district spokesman Steve Hegarty.

Florida Department of Education spokeswoman Cynthia Sucher later said in an email that Hillsborough staffers notified the agency their report contained duplicate records. The department then reviewed all records and found duplicate reporting in some other districts, as well, and expects to post an updated report on Thursday, Sucher said.

"This is clearly a flawed process that needs much tweaking and revamping before teachers and parents can trust in the validity of the Value Added Model," said Andy Ford, president of the Florida Education Association, the statewide teachers union. "Florida teachers are not afraid of accountability - we welcome it. But it is essential that everyone believes in the evaluation system and that it accurately reflects what we accomplish in the classroom."

Each school district was allowed to determine its own scoring system based on curriculum and students' learning and performance growth. That led to wide variations in scores across the state.

Broward County rated nearly 92 percent of teachers as "effective" and about seven percent as "highly effective", whereas Flagler County's figures were almost the reverse. Hillsborough had 42 percent as "highly effective" and 55 percent deemed "effective", while Alachua County scored 61 percent as "effective" and nearly 15 percent as needing improvement.

Several large districts, including Miami-Dade and Palm Beach counties, had not yet reported their evaluations to the state.

State officials said they expected variations in the data in the first year and will run tests to see how the figures compare with each other.

"I think it is a valid tool," Kathy Hebda, the state's deputy K-12 chancellor for educator quality.

"It's designed for everyone to begin together and improve each year over time."

Only about 2 percent of teachers in the state were marked as "needs improvement" and less than 0.5 percent were deemed "unsatisfactory." About 1 percent of teachers fell under a category for teachers in their first three years and considered still developing.

In the past, teachers were only rated as "satisfactory" or "unsatisfactory" with about 99 percent scoring favorably, said Hebda.

Teachers will not be penalized for a low score the first year, but will be dinged if they score poorly two years in a row.

But some teachers say the new system is flawed and the figures are already outdated. The data is based on the 2011-2012 school year and teachers said it's not a useful tool for correcting poor performance because it's being released nearly halfway through another school year.

Florida Education Association Vice President Joanne McCall said some teachers are being evaluated on scores from students they never taught.

Margaret Goodwin, a third-grade teacher at St. Petersburg's Westgate Elementary School, said all kindergarten through third-grade teachers at her school received the same school-wide VAM rating of 11.27 out of 50 possible points based on Florida Comprehensive Assessment Test scores of fourth- and fifth- graders because their own pupils don't take the FCAT.

"We want accountability. We want teachers to be evaluated fairly and we want to be able to do what's best for students ... and the system they're putting in place isn't doing that," said McCall.

Ford, the FEA president, unsuccessfully appealed to Gov. Rick Scott to suspend the evaluation system in a letter last month. The union now plans to appeal to the Legislature to revise the law it passed last year requiring VAM-based evaluations. Those evaluations will be used to determine which teachers should be retained and which ones should get merit pay when the system is fully effective in three years.

The association has also filed a lawsuit challenging the law's constitutionality.

Source: http://news.yahoo.com/fla-teachers-score-well-state-134313132.html

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CipherCloud Raises $30M From Andreessen Horowitz For Cloud Encryption Technology

logo-ccCipherCloud has raised a new $30 million round of funding from Andreessen Horowitz?for its cloud application security technology.?The investment follows a previous seed round from Andreessen for $1.4 million.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/x4NrfAVUgWc/

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US: Situation 'dangerous' ahead of NKorea launch

TOKYO (AP) ? The commander of American troops in Japan said Thursday that the situation ahead of North Korea's planned launch of a long-range rocket this month is "very dangerous."

Lt. Gen. Salvatore Angelella said U.S. troops in Japan are closely monitoring activity in North Korea as it prepares for the launch. He said the United States sees the launch as a violation of U.N. restrictions in place to keep North Korea from developing its long-range missile capabilities.

"This is a very dangerous situation, and we do not support those actions by North Korea. ... We are monitoring the situation closely," Angelella, who commands the roughly 50,000 U.S. troops in Japan, said at a news conference in Tokyo.

He said American troops are working closely with the Japanese to protect the country's citizens and territory, but declined to give details. Two U.S. officials said Wednesday that the Navy had begun moving several ships into the western Pacific.

North Korea has announced it will launch the rocket between Dec. 10 and 22. It attempted a similar launch in April, but it failed shortly after liftoff.

Also on Thursday, a Japanese man who served as a chef to the North Korean leadership and visited the country earlier this year said the planned rocket launch was meant to honor the late leader Kim Jong Il.

Kenji Fujimoto, Kim's personal sushi chef from 1988-2001, said he believes the late leader's son and successor, Kim Jong Un, was backing the launch to show respect for his father.

"I don't think that Kim Jong Un is taking a very aggressive role in pushing for this launch, but he might want to commemorate his father's passing," said Fujimoto, who uses a pseudonym.

He said that despite its apparent determination to defy international appeals against the rocket launch, he believes North Korea is changing for the better and wants to improve relations with the West.

Fujimoto settled in Japan after leaving the North Korean capital, Pyongyang, and has written several memoirs. The latest is about a visit to North Korea for several weeks last summer.

That trip was meant to fulfill a promise he had made to the younger Kim before he left, he says.

Fujimoto says that during his years as Kim Jong Il's chef, he got to know Kim Jong Un and other members of the family, and that his reunion with the current North Korean leader was an emotional one. A photo on the cover of his latest book purports to show Kim Jong Un embracing Fujimoto.

Source: http://news.yahoo.com/us-situation-dangerous-ahead-nkorea-launch-070350896.html

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