News file from 15th nov 2010

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News file from 15th nov 2010

  1. 1. Submitted By: Karan Kapoor
  2. 2.  BRUSSELS: European Union President Herman Van Rompuy played down on Thursday his comment that the future of the 27-nation union was at stake because of debt problems experienced by some countries, such as Ireland .  Van Rompuy said in a prepared speech that his statement this week that the EU was "in a survival crisis" had referred to the situation from April and May when Greece's ballooning budget deficit brought the euro zone to the brink of a crisis.  He said his remark did not point to the current debt problems of Ireland. Since the Greek crisis, the euro zone had set up an emergency aid mechanism to help euro zone members.
  3. 3.  He stressed that he was confident the euro zone would overcome its current problems and that he had never questioned the ability of the euro zone to survive.  He said the euro zone's economic situation was generally sound, although divergences, such as between Germany and Greece , needed to be corrected.  "We are in a survival crisis," he told the European Policy Centre. "We all have to work together in order to survive with the euro zone because if we don't survive with the euro zone, we will not survive with the European Union."
  4. 4.  For 18 minutes on April 8, a Chinese state-owned telecommunications firm rerouted email traffic to and from websites of the US Senate, the Department of Defense, along with "many others" including NASA and Department of Commerce, said the US- China Economic and Security Review Commission's annual report.  Some 15 percent of the Internet's entire traffic was routed through the Chinese servers during this brief period, said the report.  The efforts of Chinese individuals and organizations to penetrate US networks "appear to be more sophisticated than techniques used in the past," cautioned commission vice chair Carolyn Bartholomew.  "The massive scale and the extensive intelligence and reconnaissance components of recent high profile, China-based computer exploitations suggest that there continues to be some level of state support for these activities," Bartholomew said. .
  5. 5.  NEW DELHI: Computer maker HP India today launched its new interactive digital device 'DreamScreen', priced at Rs19,999.  The touch-based device will offer content through the Internet like education, video chat, e-mail, movies and news.  "The device is designed to offer features and content to each member of the family. Users can browse internet, get the latest news and play games, providing a PC-like experience," HP India vice president and general manager (Personal Systems Group) Sunil Dutt told reporters here.  The product will be available in the market from November 25 through 700 outlets across 60 cities
  6. 6.  General Motors Co's swift journey from dying company to blockbuster IPO is a remarkable story by any measure. Yet President Barack Obama and his Democrats have received little political credit for it, even though White House "car czars" engineered the transformation as they shepherded the automaker through a goverment-sponsored bankruptcy.  A desire to limit further political damage well ahead of the 2012 presidential election could influence the Obama administration's exit strategies for remaining taxpayer investments in GM , Chrysler Holdings , American International Group and smaller banks. 
  7. 7.  Obama trumpeted GM's journey as a "success story" and said taxpayers were on track to recover more from the automaker than the $30 billion his administration spent on the restructuring. That does not count the nearly $20 billion spent during the Bush administration in 2008 to bail out GM.  White House spokesman Robert Gibbs said the administration was hopeful the government could be fully out of its GM investment by mid- to late 2012.
  8. 8.  Apple Inc is bringing its mobile advertising network to European markets, on the heels of its early success in the United States.  The company launch the iAd network in the United Kingdom and France in December, and in Germany in January.  Apple launched the network in the United States in July. It competes with a host of rivals, including Google Inc , in the small but fast-growing mobile advertising market.  Apple said iAd would launch in Europe with ads from L'Oreal, Renault, Louis Vuitton , LG Display, Anheuser-Busch InBev and others. The service places ads within apps on mobile device such as the iPhone.  Apple said it had signed up more than half of the top 25 leading U.S. national advertisers.

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