Microsoft is expected to rebrand and relaunch its Windows Live Search, according to various reports on the Web.
There have been tremors on the Web that Microsoft was considering a new brand name for Live Search, and now LiveSide.Net is reporting that Microsoft has taken control of the domain name Kumo.com from its registrar and directing internal traffic to it as a test site.
The rebranded site is expected to launch early next year, according to a TechCrunch report that cited a source within the company. According to that report, very few people in the company are privy to the chosen name of the new brand and it could still change.
And while this doesn't mean that Microsoft is definitely going to adopt Kumo as its new search brand, taken together it's pretty clear evidence that Microsoft has decided to focus on revitalizing its own search effort over its former ambitions for Yahoo's search business.
Microsoft's recent move to acquire Yahoo search talent is another sign that it is beefing up its own search muscle. Microsoft confirmed that it had hired Yahoo search executive Sean Suchter to be general manager of Microsoft's Silicon Valley Search Technology Center "working on Live Search."
Kumo--a Japanese word that means "cloud" or "spider"--is certainly sexier than Windows Live Search, but is it enough to jump start Microsoft's search effort?
Monday, November 24, 2008
Sunday, November 23, 2008
$1.5 trillion package for China's economy
Projects planned by provincial governments will add an additional 10 trillion yuan ($1.464 trillion) to the value of China's economic stimulus package, state television said on Sunday, even as the country's premier called on businesses to keep up their confidence.
The central government earlier this month announced a 4 trillion yuan stimulus package, including rail and infrastructure projects as well as increased social spending, as China strives to offset a sharp drop in demand for the exports which fuel its economy.
The People's Bank of China will need to pay more attention to the structural adjustment of the economy, as it combats the impact of the global financial crisis, governor Zhou Xiaochuan said in remarks published on the central bank's website Sunday.
He called for "more understanding of the financial requirements of the restructuring" and reiterated that small and medium enterprises, the service sector, energy-efficient projects and rural projects were priorities for financial support.
Despite strong talk of boosting China's domestic consumption, details of specific new projects and areas of spending are only slowly emerging.
Source: Agencies
The central government earlier this month announced a 4 trillion yuan stimulus package, including rail and infrastructure projects as well as increased social spending, as China strives to offset a sharp drop in demand for the exports which fuel its economy.
The People's Bank of China will need to pay more attention to the structural adjustment of the economy, as it combats the impact of the global financial crisis, governor Zhou Xiaochuan said in remarks published on the central bank's website Sunday.
He called for "more understanding of the financial requirements of the restructuring" and reiterated that small and medium enterprises, the service sector, energy-efficient projects and rural projects were priorities for financial support.
Despite strong talk of boosting China's domestic consumption, details of specific new projects and areas of spending are only slowly emerging.
Source: Agencies
Dubai real estate suffers major setback
Dubai's property sector suffered a series of blows this week after brokers confirmed a rise in distressed sales, a real estate guide downgraded its rating on residential property and an Islamic lender suspended new loans.
The once-booming real estate sector of the emirate is showing signs of collapsing due to the global credit crisis, as prices fall sharply and buyers struggle to get mortgage loans.
"There is a sizeable increase in the number of property owners in an urgent state to sell," Robert Macnair, sales director of Dubai-based Elysian Real Estate, told the media.
"It could be they have a large payment coming up or they've seen the market dropping over the last month ... there is a real sense of urgency."
Property prices on Dubai's Palm Jumeirah island, a man-made peninsula developed by government-owned Nakheel, have fallen as much as 40 percent since September, real estate brokers said on Thursday.
Elysian this week sent out a text message to up to 40,000 mobile phones advertising distressed property sales offering a luxury six bedroom, six bathroom villa in Dubailand, a multi-billion-dollar luxury theme park.
The villa advertised costs 21 million UAE dirhams ($5.72 million) - half its original price - and will be completed in 2009, the text read.
Dubai downgrade
Global Property Guide cut its long-term investment rating on Dubai residential property on Wednesday from neutral to negative due to the drop in gross rental yields from last year.
"Gross yields are now an average of 5.5 percent, significantly down from an average of 7.5 percent a year ago ... At these levels, Dubai is less attractive than it was previously as an investment property," it said in a research note.
Global Property Guide said Dubai has "an enormous" amount of new supply and expects prices to fall over the next 2-3 years.
To compound matters, Dubai Islamic mortgage lender Amlak AMLK.DU said it suspended new loans. This follows moves by several banks to tighten lending conditions in August and September.
"It is very hard to get loans now. Customers are suffering," Rehab Gouda, senior sales agent at Al Jabal Real Estate said.
"Either they have pre-approval from before the crisis, or they are cash buyers."
Source: Agencies
The once-booming real estate sector of the emirate is showing signs of collapsing due to the global credit crisis, as prices fall sharply and buyers struggle to get mortgage loans.
"There is a sizeable increase in the number of property owners in an urgent state to sell," Robert Macnair, sales director of Dubai-based Elysian Real Estate, told the media.
"It could be they have a large payment coming up or they've seen the market dropping over the last month ... there is a real sense of urgency."
Property prices on Dubai's Palm Jumeirah island, a man-made peninsula developed by government-owned Nakheel, have fallen as much as 40 percent since September, real estate brokers said on Thursday.
Elysian this week sent out a text message to up to 40,000 mobile phones advertising distressed property sales offering a luxury six bedroom, six bathroom villa in Dubailand, a multi-billion-dollar luxury theme park.
The villa advertised costs 21 million UAE dirhams ($5.72 million) - half its original price - and will be completed in 2009, the text read.
Dubai downgrade
Global Property Guide cut its long-term investment rating on Dubai residential property on Wednesday from neutral to negative due to the drop in gross rental yields from last year.
"Gross yields are now an average of 5.5 percent, significantly down from an average of 7.5 percent a year ago ... At these levels, Dubai is less attractive than it was previously as an investment property," it said in a research note.
Global Property Guide said Dubai has "an enormous" amount of new supply and expects prices to fall over the next 2-3 years.
To compound matters, Dubai Islamic mortgage lender Amlak AMLK.DU said it suspended new loans. This follows moves by several banks to tighten lending conditions in August and September.
"It is very hard to get loans now. Customers are suffering," Rehab Gouda, senior sales agent at Al Jabal Real Estate said.
"Either they have pre-approval from before the crisis, or they are cash buyers."
Source: Agencies
Textile cos to axe five lakh employees
Even as the Indian government is getting ready to undertake a nationwide survey of over 800 companies to find out the exact job losses in India due to the global financial crisis, the first report of pink slips is out.
According to estimates of the textile ministry, there will be job losses of about five lakh in the next five months. This was disclosed by commerce secretary GK Pillai on the sidelines of a government-industry interaction organised by Ficci.
In a presentation made before the commerce secretary, Shishir Jaipuria, deputy chairman, Confederation of Indian Textiles Industry, said the growth of the textile sector fell from 5.2% in April-September 2007 to a minuscule 0.3% in the same period this fiscal.
He said the textiles and clothing industry employs 35 million workers directly, adding that already 7 lakh jobs are estimated to have been lost and another 5 lakh would lose jobs by March 2009.
Financial results of 50 major textile companies listed in the Bombay Stock Exchange shows that though turnover increased, profits became negative in the second quarter this year. In the remaining last two quarters, even turnover will decline, he warned. Smaller units are already suffering significant production loss, Jaipuria added.
For instance, the profitability of renowned companies like Bombay Dyeing fell from (-)370% in the first quarter over the same quarter last year, to (-)828% in the second quarter as against last year’s Q2.
Over 50% of textile products manufactured in the country is being exported. US, EU and Japan constitute over 60% of our textiles exports. All the three countries are in a recession mode.
US’s import of textile products from India during January-August 2008 declined by 1.56% in value terms, compared to the same period of 2007. For garments, the decline was higher at 4.8%. The imports demand of Indian textiles in EU and Japan is declining on similar trend, though data is not available yet.
To read on...click on the link below:
http://www.financialexpress.com/news/Textile-cos-to-axe-five-lakh-employees-in-next-five-months/389024/
According to estimates of the textile ministry, there will be job losses of about five lakh in the next five months. This was disclosed by commerce secretary GK Pillai on the sidelines of a government-industry interaction organised by Ficci.
In a presentation made before the commerce secretary, Shishir Jaipuria, deputy chairman, Confederation of Indian Textiles Industry, said the growth of the textile sector fell from 5.2% in April-September 2007 to a minuscule 0.3% in the same period this fiscal.
He said the textiles and clothing industry employs 35 million workers directly, adding that already 7 lakh jobs are estimated to have been lost and another 5 lakh would lose jobs by March 2009.
Financial results of 50 major textile companies listed in the Bombay Stock Exchange shows that though turnover increased, profits became negative in the second quarter this year. In the remaining last two quarters, even turnover will decline, he warned. Smaller units are already suffering significant production loss, Jaipuria added.
For instance, the profitability of renowned companies like Bombay Dyeing fell from (-)370% in the first quarter over the same quarter last year, to (-)828% in the second quarter as against last year’s Q2.
Over 50% of textile products manufactured in the country is being exported. US, EU and Japan constitute over 60% of our textiles exports. All the three countries are in a recession mode.
US’s import of textile products from India during January-August 2008 declined by 1.56% in value terms, compared to the same period of 2007. For garments, the decline was higher at 4.8%. The imports demand of Indian textiles in EU and Japan is declining on similar trend, though data is not available yet.
To read on...click on the link below:
http://www.financialexpress.com/news/Textile-cos-to-axe-five-lakh-employees-in-next-five-months/389024/
Saturday, November 22, 2008
Now Google starts cost cutting
Internet search giant Google Inc is known for hosting the most extravagant holiday parties in Silicon Valley, often drawing crowds of over 10,000 and prompting some employees to post ads for party dates on classifieds website Craigslist.
But even Google has decided to scale back its holiday celebrations this year due to a global economic downturn and an ever-expanding workforce that had grown to 20,000 in October, according to a person familiar with the matter.
Silicon Valley has few reasons to celebrate this year as companies, including Hewlett Packard Co, Yahoo Inc, Sun Microsystems Inc and Applied Materials Inc, have cut over 140,000 jobs in the last few months because of the bleak economy, according to Challenger, Gray and Christmas consulting group.
Google has fared better than most tech companies, but departments at the Internet company will have smaller events this year to encourage camaraderie between employees and celebrate more economically, said the source. Team holiday activities will include spending an afternoon volunteering followed by evening social activities such as dinner parties and museum outings in San Francisco.
This is a striking difference from previous years, when Google holiday parties included ice sculptures of the company's logo, virtual reality video game stations, karaoke booths, sushi buffets and burlesque dancers.
Last year a party crowd of 10,000 spread throughout the Shoreline Amphitheater, near Google headquarters in Mountain View, California, said workers -- called Googlers. A handful used the Web to find dates.
But this year only one looked for a companion in a recent search on Craigslist. Google declined to comment on this year's change.
But even Google has decided to scale back its holiday celebrations this year due to a global economic downturn and an ever-expanding workforce that had grown to 20,000 in October, according to a person familiar with the matter.
Silicon Valley has few reasons to celebrate this year as companies, including Hewlett Packard Co, Yahoo Inc, Sun Microsystems Inc and Applied Materials Inc, have cut over 140,000 jobs in the last few months because of the bleak economy, according to Challenger, Gray and Christmas consulting group.
Google has fared better than most tech companies, but departments at the Internet company will have smaller events this year to encourage camaraderie between employees and celebrate more economically, said the source. Team holiday activities will include spending an afternoon volunteering followed by evening social activities such as dinner parties and museum outings in San Francisco.
This is a striking difference from previous years, when Google holiday parties included ice sculptures of the company's logo, virtual reality video game stations, karaoke booths, sushi buffets and burlesque dancers.
Last year a party crowd of 10,000 spread throughout the Shoreline Amphitheater, near Google headquarters in Mountain View, California, said workers -- called Googlers. A handful used the Web to find dates.
But this year only one looked for a companion in a recent search on Craigslist. Google declined to comment on this year's change.
US teenager kills himself live via webcam
The family of a US teenager who killed himself live online via a webcam have spoken of their regret at how no-one stopped the unfolding suicide.
Abraham Biggs, 19, from Pembroke Pines, near Miami, killed himself hours after announcing his plan on his blog.
His father said it was "unimaginable" that neither the website's operators nor any viewers alerted the police.
Biggs took an overdose of anti-depressive drugs, but remained comatose online for hours before he died.
His father, Abraham Biggs Sr, said he had no idea his son was contemplating suicide.
''We were very good friends,'' Mr Biggs said of his son, adding: "It's wrong that it was allowed to happen.''
Biggs Jr, who was studying to be a paramedic at the college where his father is a maths professor, suffered from mental illness which his mother said had finally claimed his life.
''My son, Abraham Biggs Jr, was well-loved and cared for. However, the mental illness of bipolarity and depression got the better part of him,'' she wrote on MySpace.
'Nothing happened'
The sense of disbelief at the teenager's death was heightened by the realisation that his end was drawn out and, most likely, preventable.
He began the process by posting messages telling people he was going to kill himself, and then started streaming live pictures from his home.
Reports say that some of viewers who logged in to watch began to encourage the teenager to kill himself, while others tried to dissuade him.
After several hours, when he had not moved some viewers finally notified the site's moderator, who then called the police.
The boy's sister, Rosalind Biggs, denounced the website, Justin.tv, which allows people to broadcast themselves online: "They got hits, they got viewers, nothing happened for hours."
It is unclear how many people watched Wednesday's suicide unfold, although reports suggest that some viewers thought it was a hoax.
The last transmission from the webcam was of a police officer bursting into Abraham Biggs's room, where he discovers his body and then places his hand over the camera.
Michael Seifert, chief executive of Justin.tv, said the company and its staff would "take a moment to recognise and reflect upon the tragedy that occurred within our community" and offered condolences to the Biggs family.
The footage has since been taken down and his father is now calling for more regulation of chatrooms.
Source: BBC
Abraham Biggs, 19, from Pembroke Pines, near Miami, killed himself hours after announcing his plan on his blog.
His father said it was "unimaginable" that neither the website's operators nor any viewers alerted the police.
Biggs took an overdose of anti-depressive drugs, but remained comatose online for hours before he died.
His father, Abraham Biggs Sr, said he had no idea his son was contemplating suicide.
''We were very good friends,'' Mr Biggs said of his son, adding: "It's wrong that it was allowed to happen.''
Biggs Jr, who was studying to be a paramedic at the college where his father is a maths professor, suffered from mental illness which his mother said had finally claimed his life.
''My son, Abraham Biggs Jr, was well-loved and cared for. However, the mental illness of bipolarity and depression got the better part of him,'' she wrote on MySpace.
'Nothing happened'
The sense of disbelief at the teenager's death was heightened by the realisation that his end was drawn out and, most likely, preventable.
He began the process by posting messages telling people he was going to kill himself, and then started streaming live pictures from his home.
Reports say that some of viewers who logged in to watch began to encourage the teenager to kill himself, while others tried to dissuade him.
After several hours, when he had not moved some viewers finally notified the site's moderator, who then called the police.
The boy's sister, Rosalind Biggs, denounced the website, Justin.tv, which allows people to broadcast themselves online: "They got hits, they got viewers, nothing happened for hours."
It is unclear how many people watched Wednesday's suicide unfold, although reports suggest that some viewers thought it was a hoax.
The last transmission from the webcam was of a police officer bursting into Abraham Biggs's room, where he discovers his body and then places his hand over the camera.
Michael Seifert, chief executive of Justin.tv, said the company and its staff would "take a moment to recognise and reflect upon the tragedy that occurred within our community" and offered condolences to the Biggs family.
The footage has since been taken down and his father is now calling for more regulation of chatrooms.
Source: BBC
Citi likely to replace Vikram Pandit as CEO
Citigroup's Board is considering firing its Chief Executive Vikram Pandit, who was appointed as CEO late last year to infuse confidence, as the banking giant finds itself searching for hope all over again.
Replacing Pandit – an enthusiastic defender of the company's existing mix of businesses – is one of the options being considered by Citi executives, along side selling all or part of the company, a public endorsement from the government or a new financial lifeline to stabilise the banking behemoth, after its shares took a sharp plunge this week.
In a series of tense meetings and telephone calls, the executives weighed several options, including whether to replace Citigroup's chief executive Vikram S Pandit or to sell all or part of the company, the New York Times reported.
The paper reported that the company's executives on Friday entered into talks with federal officials about how to stabilise the struggling financial giant.
The report came amidst some analysts saying that infusion of $50 to $100 billion might be needed to bail out the bank.
The course of action, however, remained uncertain on Friday night, the people involved in talks were quoted as saying, and other options may yet emerge. But after a year of gaping losses and an accelerating decline in share price, Citigroup, which has $2 trillion in assets and operations in scores of countries, is running out of time, analysts were quoted by The New York Times as saying.
The paper said, Citigroup's management and some board members held several calls with Henry M Paulson Jr, the Treasury secretary, and with the president of the Federal Reserve of Bank of New York, Timothy E Geithner, who later emerged as President-elect Barack Obama's choice to be Treasury secretary.
Source: PTI
Replacing Pandit – an enthusiastic defender of the company's existing mix of businesses – is one of the options being considered by Citi executives, along side selling all or part of the company, a public endorsement from the government or a new financial lifeline to stabilise the banking behemoth, after its shares took a sharp plunge this week.
In a series of tense meetings and telephone calls, the executives weighed several options, including whether to replace Citigroup's chief executive Vikram S Pandit or to sell all or part of the company, the New York Times reported.
The paper reported that the company's executives on Friday entered into talks with federal officials about how to stabilise the struggling financial giant.
The report came amidst some analysts saying that infusion of $50 to $100 billion might be needed to bail out the bank.
The course of action, however, remained uncertain on Friday night, the people involved in talks were quoted as saying, and other options may yet emerge. But after a year of gaping losses and an accelerating decline in share price, Citigroup, which has $2 trillion in assets and operations in scores of countries, is running out of time, analysts were quoted by The New York Times as saying.
The paper said, Citigroup's management and some board members held several calls with Henry M Paulson Jr, the Treasury secretary, and with the president of the Federal Reserve of Bank of New York, Timothy E Geithner, who later emerged as President-elect Barack Obama's choice to be Treasury secretary.
Source: PTI
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