Sunday, June 30, 2013

Russian tycoon bids for control of Swiss steelmaker

LUCERNE, Switzerland (Reuters) - Russian tycoon Viktor Vekselberg has launched a bid to control Swiss steelmaker Schmolz+Bickenbach after he failed to win support from shareholders to raise more capital and install his preferred candidate on the company's board.

On Friday, Vekselberg's investment vehicle, Renova, agreed to pay a group of long-time shareholders about 58 million Swiss francs for a 20.46 percent stake in the Swiss firm. The group, Schmolz+Bickenbach GmbH & Co KG (S+B KG), descendents of the company's founders, retains a similar stake.

The two parties, which have been allies in fighting for a restructuring at Schmolz+Bickenbach, then agreed to pool their shares, giving them a combined stake of 40.46 percent. This forces new stakeholder Vekselberg, under Swiss law, to make an offer to buy the remaining shares in Schmolz+Bickenbach.

In a statement, Renova's subsidiary, Venetos Holding AG, said it planned to make an offer around July 12 of 2.85 Swiss francs for each Schmolz+Bickenbach share. This offer is below the closing price of 2.90 francs on Friday.

The tender offer is worth 397 million Swiss francs for the remaining 60 percent of Schmolz+Bickenbach that Renova and S+B KG do not already own, Renova spokesman Rolf Schatzmann told Reuters.

However, Schatzmann said the offer is just a way of gaining control of the company to force a restructuring. He said Renova hopes existing shareholders will retain their shares rather than sell them.

Schmolz+Bickenbach's board and its founding family have been at odds over the future direction of the company, with the founders believing that the firm needs to raise more capital to secure its financial strength.

Vekselberg typically seeks to gain influence over the companies he invests in by building up a substantial minority stake, as he has done previously at Swiss machinery and equipment makers Sulzer and Oerlikon .

Earlier on Friday, Schmolz+Bickenbach shareholders backed a rights issue to raise $350 million, rebuffing calls from S+B KG which had allied with Vekselberg to seek a bigger capital increase of 430 million francs ($453 million).

Schmolz+Bickenbach will now offer shareholders seven new shares for two existing shares at a subscription price of 0.80 Swiss francs, a discount of 74 percent to Thursday's closing price. The new shares will begin trading on July 10.

The company said it would use the money to cut interest payments by repaying around $200 million in loans.

Like other European steelmakers, Schmolz+Bickenbach is struggling to find buyers for its steel because the euro zone's problems have flattened demand in the region, while slowing growth elsewhere has limited exports of goods such as cars.

The company, which has around 10,000 employees, had opposed the larger capital increase as an excessive burden for existing shareholders. ($1 = 0.9486 Swiss francs)

(Reporting by Albert Schmieder and Caroline Copley; Writing by Alice Baghdjian and Caroline Copley; Editing by Ruth Pitchford and Richard Chang)

Source: http://news.yahoo.com/russian-tycoon-bids-control-swiss-steelmaker-213233737.html

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Tornado Watch for Swan River






CJOB News Team reporting
6/28/2013

A tornado watch has ended for parts of west central manitoba -- Swan River - Duck Mountain - Porcupine Provincial Forest? areas.

Robin Dyck of Environment Canada says there were no reported funnel cloud sightings in this province.

"We did have watches on the Saskatchewan side of the border,?? near Nipawin,?White Fox and Carrot River regions."says Dyck.? "We had some reports of some funnel clouds, However no confirmed touchdowns were reported."

In the Winnipeg area? it should become clear later this evening.

Source: http://www.cjob.com/News/Local/Story.aspx?ID=1995243

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Saturday, June 29, 2013

American killed in Egypt protests, US official confirms

AFP-Getty Images

Opponents of Egyptian President Mohamed Morsi burn a Freedom and Justice Party office Friday in Alexandria, Egypt.

By M. Alex Johnson and Jeff Black, NBC News

A U.S. citizen killed on Friday in Alexandria, Egypt, site of anti-government protests, was identified as Andrew Pochter, the U.S. Embassy in Cairo told NBC News on Saturday.

Kenyon College in Gambier, Ohio, said the 21-year-old student was from Chevy Chase, Md.

In a statement, the school said Pochter was an intern at AMIDEAST, a nonprofit group not affiliated with Kenyon that is engaged in international education, training and development.

"We are providing appropriate consular assistance from our Embassy in Cairo and our Bureau of Consular Affairs at the State Department," a State Department said.

Al Jazeera and Reuters, both quoting doctors and Egyptian security officials, and the Egyptian state news agency MENA reported Friday that Pochter died from a stab wound to the chest in Alexandria.

Gen. Amin Ezzeddin, a senior security official in Alexandria, told Reuters that the American was using a mobile phone camera near an office of President Mohammed Morsi's Muslim Brotherhood as it was being attacked by protesters. He died at a military hospital, Ezzeddin said.

At least 80 other people have been wounded in the Alexandria protests, MENA reported.

The protests are part of the buildup to nationwide "June 30" demonstrations marking a year since Morsi's election. Morsis opponents hope to force early presidential elections, citing a range of social and economic issues.

Morsi's supporters have promised that they will also take to the streets to defend the Muslim Brotherhood-backed government.

"There are no services. We can't find diesel or gasoline," Mohamed Abdel Latif, an accountant, told Reuters. "We elected Morsi, but this is enough."

Charlene Gubash of NBC News contributed to this report from Cairo, Egypt.

Related:

This story was originally published on

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Israelis brand selves in solidarity with animals

JERUSALEM (AP) ? Sasha Boojor squirmed and struggled as black-clad masked men yanked him out of a cage and branded him with a hot iron. While the smell of seared flesh was disturbing, he said, this shocking and painful act was worth it: He was showing solidarity with animals that suffer branding on farms around the world.

Boojor claims 30 people have brand themselves worldwide, and thousands more support their effort to make the case for animal rights. The group, like other animal liberation movements, opposes the use of animals for human consumption, research or entertainment, going far beyond demands by more moderate groups for humane treatment and painless slaughtering.

Critics, including some animal rights sympathizers, believe this movement is going too far.

A public branding in Tel Aviv last year launched the movement, called 269Life. Since then it has spread, with brandings in Italy, the United States, Argentina and elsewhere. On Wednesday, 11 people branded themselves in the Czech capital, Prague.

The group's name derives from a number branded on a calf that activists encountered at an Israeli dairy farm last year. They chose its number, 269, as a way to individualize the calf, which is still alive.

"We aim to bring the pain and horror other animals face each and every day out of the suppressed darkness and into the realm of everyday life," the group states on its website.

In recent months, the group has staged sensational and sometimes gruesome stunts in Israel. They have freed chickens from coops and defaced fountains with severed cow heads while dyeing the water blood-red.

The brandings set them apart from other animal rights groups.

Last October, Boojor and two other activists sat in a mock pen in a central Tel Aviv square, caged in with barbed wire, with tags bearing the number 269 dangling from their ears. One by one, they were hoisted out by men in ski masks and held down to be branded, as bystanders watched in horror.

In video from that event, Boojor is seen writhing on the ground before his forearm is stamped with the number 269.

"What's really unpleasant is the sensation ? a feeling of the skin being torn off ? and you can smell the flesh burning," said Boojor, a 27-year-old from Tel Aviv who works odd jobs. "You feel out of control, and it's easy to understand how animals feel when they are in that situation."

The video of the branding has nearly 270,000 views on YouTube and was a key factor in the group's growth. The group was active on Facebook early on ? the international movement's page has more than 33,000 "likes" ? and has received inquiries from activists elsewhere interested in starting their own branches.

The movement is loosely organized. The different branches are in touch but choose on their own what works locally. Boojor said activists from Holland were attending Wednesday's Prague branding to learn how to stage their own. Leading activists from each country report to Boojor on how many people have been tattooed or branded, and the group uploads photos of those markings to its website.

Eleven activists, including four women, participated in Wednesday's event in square in central Prague, branding themselves with a hot iron on various parts of their bodies. The activists wore black underwear with metal chains around their necks and were taken one by one behind a wire fence where they sat and waited to be branded.

A few dozen people watched, while the smell of burning flesh wafted in the air. Some onlookers applauded at the end.

"As I expected it is a very intense experience," said Ondrej Kral, one of the activists. "Now, I feel even more motivated to fight for the rights of animals."

As 269Life has raised its profile and increased its activities, it has also run afoul of Israeli police.

Police spokesman Micky Rosenfeld said nine people were questioned in connection with the fountain stunt, and that an investigation is underway into the group's activities. He called the group a "cult" that "seems quite extreme."

"Going to jail doesn't disturb me," Boojor said. "The captivity of animals is what disturbs me."

Boojor said the branding should have a special resonance in Israel, because Jewish victims of the Nazi Holocaust of World War II were marked with permanent identification numbers in concentration camps.

The use of that imagery sparks outrage. Uri Hanoch, an 85-year-old survivor from the Dachau camp in Germany, said such a comparison is "a sin."

He said, "Branding animals is a matter of identification. Doing it on humans is a disgrace."

Boojor said he has seen progress on the issue of animal rights in Israel, with an increasing number of vegan restaurants sprouting up and vegan products available to a greater degree. Still, he has yet to persuade barbecue-loving Israelis of his view that animals have rights similar to those of humans.

Israel passed an animal welfare law in 1994 that protects animals from abuse and explicitly permits the slaughter of animals for food. Critics charge that police enforce the law selectively and tend to ignore abuses in the farming industry.

Last year an Israeli TV program exposed ill-treatment of animals at a large slaughterhouse in northern Israel, where workers were filmed beating and shocking calves and lambs. Lawsuits demanding the closure of the slaughterhouse were launched, and the cases are ongoing. Most abattoirs in Israel slaughter animals according to Jewish dietary laws, which profess to be humane.

The country has a multitude of animal rights groups with different approaches.

Ben Baron, a spokesman for the Israeli animal liberation group Shevi, said he does not oppose 269Life's approach but called it "aggressive," adding that he thinks educating people on animal rights is a more effective way to raise awareness.

"I understand and relate to the pain, but I don't think that is the way, personally," he said.

The international animal rights organization People for The Ethical Treatment of Animals said the brandings spark important discussions about the issue.

"It's an eye-catching and a head-turning way to draw attention to a very serious message," said Ashley Fruno, a senior campaigner for PETA Asia-Pacific, which oversees the Middle East. PETA itself has been criticized for extreme projects on behalf of animals, sabotaging testing facilities among other activities.

Fruno said several PETA activists have tattooed themselves with the number 269.

"This is a badge of honor for these people," she said.

___

Follow Goldenberg at www.twitter.com/tgoldenberg

___

Associated Press writer Karel Janicek in Prague contributed to this report.

Source: http://news.yahoo.com/israelis-brand-selves-solidarity-animals-061447667.html

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Friday, June 28, 2013

Algae shows promise as pollution-fighter, fuel-maker

June 27, 2013 ? A hardy algae species is showing promise in both reducing power plant pollution and making biofuel, based on new research at the University of Delaware.

The microscopic algae Heterosigma akashiwo grows rapidly on a gas mixture that has the same carbon dioxide and nitric oxide content as emissions released from a power plant.

"The algae thrive on the gas," said Kathryn Coyne, associate professor of marine biosciences in UD's College of Earth, Ocean, and Environment. "They grow twice as fast and the cells are much larger in size compared to when growing without gas treatment."

The algae also make large amounts of carbohydrates, which can be converted into bioethanol to fuel vehicles. The findings could have industrial applications as a cost-effective way to cut greenhouse gas pollution when paired with biofuel production.

Heterosigma akashiwo is found worldwide in the natural environment. Coyne, an expert in algal blooms, discovered that the species may have a special ability to neutralize nitric oxide -- a harmful gas that poses threats to environmental and human health.

That characteristic prompted Coyne and her team to investigate whether the algae could grow on carbon dioxide without getting killed off by the high nitric oxide content in power plants' flue gas, which had foiled similar attempts by other scientists using different types of algae.

A yearlong laboratory experiment shows that Heterosigma akashiwo not only tolerates flue gas, but flourishes in its presence. The algae also do not need any additional nitrogen sources beyond nitric oxide to grow, which could reduce costs for raising algae for biofuel production.

"This alone could save up to 45 percent of the required energy input to grow algae for biofuels," Coyne said.

Funded by the Delaware Sea Grant College Program, Coyne and her collaborator, Jennifer Stewart, plan to further study how changes in conditions can enhance the growth of Heterosigma akashiwo. So far, they found a large increase in carbohydrates when grown on flue gas compared to air. They also see correlations between the levels of light given to the algae and the quantity of carbohydrates and lipids present in the organisms.

The researchers are exploring opportunities for partnerships with companies to scale up the growth process and more closely examine Heterosigma akashiwo as a biofuel producer.

The prospects could support a national focus on carbon pollution reduction following President Barack Obama's major speech this week on climate change.

"Our approach to the issue is to not just produce biofuels, but to also use this species for bioremediation of industrial flue gas to reduce harmful effects even further," Coyne said.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/7VLXIQLkvY4/130627141728.htm

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Spinning Obama?s Climate Change Plan

President Barack Obama?s climate change plan had both sides busy spinning data:

  • Rep. Eric Cantor, in warning that the president?s plan would hurt the economy, said Americans are increasingly ?losing faith in their economy.? But the Consumer Confidence Index, released a day before Cantor spoke, showed consumer confidence ?is now at its highest level since January 2008.?
  • Obama said that ?since 2006, no country on Earth has reduced its total carbon pollution by as much as the United States of America.? That?s accurate in terms of the amount of emissions reduced. But dozens of nations have reduced their carbon dioxide emissions by a larger percentage than the U.S., which is second only to China in total emissions.

The president gave a major speech on climate change on June 25, outlining a broad plan to use his executive powers to reduce greenhouse gases. A day later, House Republican leaders ? including Cantor, the House majority leader ? held a press conference to denounce the potential economic impact of the plan.

Cantor, June 26: Increasingly, the American people are losing trust in their government and losing faith in their economy, and these are the problems that House Republicans are trying to address and trying to fix. But ? yesterday, the president took time out to announce that he will unilaterally introduce new rules and regulations that will impose higher energy costs on our small businesses and our working families, depressing growth in our economy.

Cantor ignores the most recent results from the Conference Board Consumer Confidence Index.

The Conference Board, an independent economic research organization founded in 1916, produces monthly reports that are closely watched by businesses and economists and widely reported by business media. The board released its June report a day before the GOP press conference. The results were positive, with the index increasing to 81.4 from 74.3 in May:

Lynn Franco, director of economic indicators at the Conference Board, June 25: Consumer Confidence increased for the third consecutive month and is now at its highest level since January 2008 (Index 87.3). Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year. Expectations have also improved considerably over the past several months, suggesting that the pace of growth is unlikely to slow in the short-term, and may even moderately pick up.

Days before the release of the most recent CCI, Federal Reserve Chairman Ben Bernanke cited ?increases in consumer confidence? as a reason that the Fed may start to slow its bond buying program ? an announcement?that immediately drove down the markets. Canadian Business magazine reported that Bernanke ?returned to that theme? ? of consumer confidence ? ?several times? in his June 19 press conference.

Canadian Business, June 19: The chairman returned to that theme several times again during Wednesday?s press conference. He cited the latest reading on the University of Michigan Survey of Consumer Sentiment, which showed that Americans haven?t felt so good since July 2007.

We contacted Cantor?s office for data supporting his statement. His spokeswoman, Megan Whittemoore, directed us to the June 18 Gallup Economic Confidence Index (a weekly poll) and the June 26 Rasmussen Consumer Index (a daily survey). The Rasmussen Consumer Index, as of June 26, was 100.4 ? a drop of 11 points from a six-year high of 111.3 recorded on June 19. Gallup?s June 18 report showed a dip of two points, from -7 to -9, from the previous week. The most recent Gallup report, which was published June 25, showed economic confidence edged up 1 point from the report Whittemoore cited.

Both the June 25 Gallup report and the June 26 Rasmussen Consumer Index report noted that consumer confidence remains relatively high. Rasmussen said it remained ?unchanged from three months ago,? despite the recent dip. Gallup reported, ?Confidence remains on the higher end of what Gallup has measured the last five years,? as is partly illustrated in the chart below that was included in Gallup?s recent report.

Gallup Economic Confidence ratings, 2011-2013

gallup economic confidence

Despite improvements, the surveys do show that most Americans are not optimistic about the economy. Negative Gallup scores ?indicate Americans are more negative than positive? about the economy. That?s true, too, of the Conference Board Consumer Confidence Index, which showed more consumers believe business conditions are ?bad? than ?good.?

Conference Board, June 25: Consumers? assessment of current conditions continued to improve in June. Those stating business conditions are ?good? held steady at 19.1 percent, while those saying business conditions are ?bad? decreased to 24.9 percent from 26.0 percent. Consumers? appraisal of the job market was also more positive. Those claiming jobs are ?plentiful? increased to 11.7 percent from 9.9 percent, while those claiming jobs are ?hard to get? edged up to 36.9 percent from 36.4 percent.

In short, data from multiple sources suggest consumers feel the economy is not good, but getting better ? contrary to Cantor?s claim that ?increasingly? Americans are ?losing faith in their economy.?

U.S. Leader in CO2 Reductions?

In the speech that triggered Cantor?s remarks, Obama did some spinning of his own.

The president?s remark that ?no country on Earth has reduced its total carbon pollution by as much as the United States of America? since 2006 is supported by a May 2012 news release from the International Energy Agency on global carbon dioxide emissions in 2011. While global emissions edged up, U.S. emissions went down.

IEA, May 24, 2012: CO2 emissions in the United States in 2011 fell by 92 Mt, or 1.7%, primarily due to ongoing switching from coal to natural gas in power generation and an exceptionally mild winter, which reduced the demand for space heating. US emissions have now fallen by 430 Mt (7.7%) since 2006, the largest reduction of all countries or regions.

However, it should be noted that there are few countries that even come close to emitting the amount of carbon dioxide that the U.S. does. The results are different when the reduction amount is calculated as a percentage.

In 2011, the U.S. emitted 5,490.63 million metric tons of carbon dioxide. That was second only to China, which emitted 8,715.31 million metric tons. In fact, the U.S. carbon dioxide emissions reduction of over 430 million metric tons since 2006 is more than most countries emit in a single year. Only 14 countries, including the U.S. and China, emitted more than that amount of carbon dioxide in 2011.

The U.S. wouldn?t be tops if emissions reductions were measured by the percentage change.

The U.S. reduced its CO2 emissions by 7.32 percent from 2006 to 2011, according to the most recent data from the Energy Information Administration. The EIA cited ?slower economic growth, weather,? higher gasoline prices and an increasing shift from coal to natural gas as reasons for the emissions decline in 2011.

But more than 40 nations had a larger percentage reduction than the U.S., including France (10.10 percent), Germany (12.01 percent), Italy (14.24 percent), Spain (14.41 percent) and the United Kingdom (15.15 percent) ? all of which committed to reducing emissions under the Kyoto Protocol that took effect in 2005 and has since been extended through 2020.

The EU-15 countries ? the 15 countries that were members of the European Union before 2004 ? were ?committed to reducing their collective emissions to 8% below 1990 levels by the years 2008-2012,? the EU says on its ?climate action? website. The United States did not ratify the treaty.

The nation with the largest reduction as a percentage since 2006 is the Republic of Tajikistan, which reduced its emissions by 64.71 percent. Its emissions dropped from 7.418 million metric tons in 2006 to 2.618 million metric tons in 2011.

? Madeleine Stevens, D?Angelo Gore and Justin Cohen

Source: http://news.yahoo.com/spinning-obama-climate-change-plan-201603903.html

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NASA's Voyager 1 explores final frontier of our 'solar bubble'

June 27, 2013 ? Data from Voyager 1, now more than 11 billion miles (18 billion kilometers) from the sun, suggest the spacecraft is closer to becoming the first human-made object to reach interstellar space.

Research using Voyager 1 data and published in the journal Science today provides new detail on the last region the spacecraft will cross before it leaves the heliosphere, or the bubble around our sun, and enters interstellar space. Three papers describe how Voyager 1's entry into a region called the magnetic highway resulted in simultaneous observations of the highest rate so far of charged particles from outside heliosphere and the disappearance of charged particles from inside the heliosphere.

Scientists have seen two of the three signs of interstellar arrival they expected to see: charged particles disappearing as they zoom out along the solar magnetic field, and cosmic rays from far outside zooming in. Scientists have not yet seen the third sign, an abrupt change in the direction of the magnetic field, which would indicate the presence of the interstellar magnetic field.

"This strange, last region before interstellar space is coming into focus, thanks to Voyager 1, humankind's most distant scout," said Ed Stone, Voyager project scientist at the California Institute of Technology in Pasadena. "If you looked at the cosmic ray and energetic particle data in isolation, you might think Voyager had reached interstellar space, but the team feels Voyager 1 has not yet gotten there because we are still within the domain of the sun's magnetic field."

Scientists do not know exactly how far Voyager 1 has to go to reach interstellar space. They estimate it could take several more months, or even years, to get there. The heliosphere extends at least 8 billion miles (13 billion kilometers) beyond all the planets in our solar system. It is dominated by the sun's magnetic field and an ionized wind expanding outward from the sun. Outside the heliosphere, interstellar space is filled with matter from other stars and the magnetic field present in the nearby region of the Milky Way.

Voyager 1 and its twin spacecraft, Voyager 2, were launched in 1977. They toured Jupiter, Saturn, Uranus and Neptune before embarking on their interstellar mission in 1990. They now aim to leave the heliosphere. Measuring the size of the heliosphere is part of the Voyagers' mission.

The Science papers focus on observations made from May to September 2012 by Voyager 1's cosmic ray, low-energy charged particle and magnetometer instruments, with some additional charged particle data obtained through April of this year.

Voyager 2 is about 9 billion miles (15 billion kilometers) from the sun and still inside the heliosphere. Voyager 1 was about 11 billion miles (18 billion kilometers) from the sun Aug. 25 when it reached the magnetic highway, also known as the depletion region, and a connection to interstellar space. This region allows charged particles to travel into and out of the heliosphere along a smooth magnetic field line, instead of bouncing around in all directions as if trapped on local roads. For the first time in this region, scientists could detect low-energy cosmic rays that originate from dying stars.

"We saw a dramatic and rapid disappearance of the solar-originating particles. They decreased in intensity by more than 1,000 times, as if there was a huge vacuum pump at the entrance ramp onto the magnetic highway," said Stamatios Krimigis, the low-energy charged particle instrument's principal investigator at the Johns Hopkins University Applied Physics Laboratory in Laurel, Md. "We have never witnessed such a decrease before, except when Voyager 1 exited the giant magnetosphere of Jupiter, some 34 years ago."

Other charged particle behavior observed by Voyager 1 also indicates the spacecraft still is in a region of transition to the interstellar medium. While crossing into the new region, the charged particles originating from the heliosphere that decreased most quickly were those shooting straightest along solar magnetic field lines. Particles moving perpendicular to the magnetic field did not decrease as quickly. However, cosmic rays moving along the field lines in the magnetic highway region were somewhat more populous than those moving perpendicular to the field. In interstellar space, the direction of the moving charged particles is not expected to matter.

In the span of about 24 hours, the magnetic field originating from the sun also began piling up, like cars backed up on a freeway exit ramp. But scientists were able to quantify that the magnetic field barely changed direction -- by no more than 2 degrees.

"A day made such a difference in this region with the magnetic field suddenly doubling and becoming extraordinarily smooth," said Leonard Burlaga, the lead author of one of the papers, and based at NASA's Goddard Space Flight Center in Greenbelt, Md. "But since there was no significant change in the magnetic field direction, we're still observing the field lines originating at the sun."

NASA's Jet Propulsion Laboratory, in Pasadena, Calif., built and operates the Voyager spacecraft. California Institute of Technology in Pasadena manages JPL for NASA. The Voyager missions are a part of NASA's Heliophysics System Observatory, sponsored by the Heliophysics Division of the Science Mission Directorate at NASA Headquarters in Washington.

For more information about the Voyager spacecraft mission, visit: http://www.nasa.gov/voyager and http://voyager.jpl.nasa.gov .

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_science/~3/RSctGZatbW0/130627140803.htm

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