August 2008 Archives

WASHINGTON - Sales of new homes rose in July, but still fell short of economists' expectations, and home prices continued to sink.

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The Commerce Department reported Tuesday that new-home sales rose by 2.4 percent last month to a seasonally adjusted annual rate of 515,000 units, the most since April. But sales in June had plummeted to a pace of just 503,000 — down from previous estimates of 530,000 — to mark the worst showing since September 1991. Economists forecasted sales to drop in July, but expected the pace to be around 525,000. Given June's sharp downward revision, the level of home sales in July turned out to be less than analysts were anticipating.

Full Story: New-home sales rose slightly in July, prices fell (AP)

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Share Print Comments KDE 4.1, released last month, brought a great number of improvements to the popular desktop environment. It's the best desktop I've ever used -- but that doesn't mean it couldn't be better. 2009 will see the release of KDE 4.2. Here are 10 features that would be great additions to a future KDE release that I hope the developers

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Full Story: Wish list: 10 improvements for KDE 4.2

slowed to a crawl and personal incomes plunged in July, reflecting the waning impact of $93 billion in economic stimulus payments .

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The Commerce Department report Friday showed that consumer activity got off to a shaky start in the third quarter, raising new worries that the economy could falter in coming months due to rising unemployment, a continuing credit crisis and the deepest housing slump in decades. Personal incomes fell by a bigger-than-expected 0.7 percent in July, the biggest drop in nearly three years, while consumer spending edged up a modest 0.2 percent, just one-third the 0.6 percent gain in June.

Full Story: Incomes drop sharply in July while spending slows (AP)

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Making a strong anti-outsourcing pitch after getting the Democratic Presidential nomination, Barack Obama vowed to end tax breaks to companies that ship jobs overseas if he is elected to office.

Playing to the gallery on the hot button issue of outsourcing in his acceptance speech, Obama kept up with the rhetoric on the subject that has been a staple of Democratic campaigning and went on to spell out what he would do as President on the front. ". . . unlike John McCain, I will stop giving tax breaks to companies that ship jobs overseas, and I will start giving them to companies that create good jobs right here in America," said Obama, who has been fiercely opposing outsourcing. The remarks drew a loud applause at the Denver Democratic National Convention.

Full Story: No tax breaks if you outsource: Obama to US firms

With Windows XP going the way of the dodo, Ubuntu looks to us like a good fit. We wouldn’t recommend Ubuntu as a primary OS for our other builds, since it won’t let you play most games or run Photoshop out of the box, but this is a sub-$300 small-form-factor PC for basic desktop tasks.

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Full Story: Ubuntu Keeps Building Momentum

Despite having been in existence for a while, index funds have never quite captured the domestic investor's imagination. And the reasons are not hard to see, given that index funds have been outscored by actively managed funds for a better part of their existence.

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However, a related investment style i.e. index-plus investing has delivered better results. Index-plus investing combines active and passive investing, thereby attempting to capitalise on the best of both worlds. ] Top 200 Fund has made a name for itself as a proponent of index-plus investing. In this article, we put HTF's investment proposition under the scanner and study its performance.

Full Story: Has HDFC Top 200 delivered?

Elastic Straps Blog, News and Updates

WASHINGTON - The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month, the government said Thursday.

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Meanwhile, the Commerce Department said Thursday that the economy grew at a 3.3 percent annual rate in the second quarter, faster than analysts expected. Still, jobless claims remain at an elevated level. There were 332,000 initial claims for benefits in the year-ago period.

Full Story: Jobless claims fall for 3rd straight week (AP)

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According to IDC, Linux is booming. At just 9.4 percent of the overall server market in terms of revenue in 2007, Linux has now climbed to 13.4%of the overall server market, with Unix at 7.7% and Windows at 36.5%. If Linux server vendors want to continue to grow, at some point they're going to have to come to grips with Windows

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Full Story: Linux Jumps To 13.4 Percent Of The Stalling Server Market

S ystematic Investment Plans are much misunderstood. For one, investors often mistake SIPs as an investment avenue rather than a mode of investing in mutual funds. Then there are investors who invest in SIPs expecting quick results without fully appreciating the need to invest via SIPs for the long-term.

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In an earlier article, we discussed how SIPs are perceived incorrectly by many investors as standalone investments. This explains why one of the most common queries we receive on the website is - which is the best SIP? Unfortunately, these investors have not been educated by their investment advisors about SIPs i.e. SIPs are only a mode of investing and not an independent investment avenue. Another misconception investors have about SIPs is with regards to the minimum tenure. Most fund houses have a minimum SIP tenure of 6 months. This leads investors to believe that 6 months is the ideal time frame for investing via SIPs (just like a lot of investors invest Rs 5,000 in mutual funds simply because that is the minimum investment amount for several mutual fund schemes).

Full Story: SIPs: A long-term investment strategy

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WASHINGTON - The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year.

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"There will be heavy sledding for the U.S. economy during the next couple of quarters," predicted Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. Gross domestic product , or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.

Full Story: Spring's economic rebound unlikely to last (AP)

Elastic Tapes Blog, News and Updates

US-CERT on Tuesday warned of attacks against Linux computers using compromised SSH keys. SSH (Secure Shell) is a network protocol designed to provide secure network communication via public-key cryptography. According to US-CERT, the attack appears to rely on stolen SSH keys to gain access to a system

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Full Story: Linux Systems Being Hit By SSH-Key Attacks

WASHINGTON - U.S. factories saw a surprisingly hefty increase in their orders for big-ticket products in July, reflecting continued strength in export sales and a boost to business investment from the government's tax stimulus package.

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Economists, however, remain worried that spreading economic weakness overseas and a rebound in the value of the dollar could spell an end to the export boom later this year. The Commerce Department said Wednesday that orders for durable goods rose 1.3 percent last month, far above the slight 0.1 percent increase Wall Street had been expecting.

Full Story: Durable goods post strong gains in June, July (AP)

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I’m going to share to you some of my favorite set of icons. These are specifically made for Ubuntu, as well as any other Linux distro with a GNOME desktop. So here they are:

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Full Story: 10 "Really Cool" Icon Sets for Ubuntu/GNOME Desktop

WASHINGTON - Orders for big-ticket manufactured goods turned in a second consecutive strong monthly performance in July, a far bigger-than-expected gain led by a huge jump in demand for commercial aircraft.

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The Commerce Department said Wednesday that orders for durable goods rose 1.3 percent last month, far above the slight 0.1 percent increase economists had been expecting. The July increase matched a 1.3 percent rise in June, which was revised up from an earlier reading of 0.8 percent. Both months turned in the strongest gains since a 4.1 percent surge last December.

Full Story: Durable goods post strong increases in July, June (AP)

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Dynamically linked shared libraries are an important aspect of GNU/Linux. They allow executables to dynamically access external functionality at run time and thereby reduce their overall memory footprint. This article investigates the process of creating and using dynamic libraries, how to explore them, nd explores how these libraries work.

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Full Story: Anatomy of Linux Dynamic Libraries

The poverty rate held steady at 12.5 percent, not statistically different from the 12.3 percent registered in 2006. The median — or midpoint — household income rose slightly to $50,233. And the number of uninsured dropped to 45.7 million, down from 47 million in 2007.

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The numbers represent a kind of scorecard on President Bush's stewardship of the economy at the kitchen-table level. However, they only go as far as the end of last year, before the current economic downturn started gathering force. Indeed, they could come to be seen as a snapshot taken at the high point of the administration's tenure. median household income of $50,233 was not significantly different from the figure for the year 2000, which was $50,557. "The American work force is baking a bigger economic pie, but the slices haven't grown at all," said Bernstein.

Full Story: Number of uninsured drops; poverty holds steady (AP)

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has set up the country's first ever commercial scale rural BPO at Tirupati in Andhra Pradesh employing youths from weaker sections in nearby villages.

A Rajan, country head, operations, HDFC Bank, said  the BPO, set up by the Bank's subsdiary, ADFC, commenced operations in July and started  supporting several outsourced processing activities of the bank. It presently employs more than 500 staff with plans to ramp it up to over 1,500 by March 2009, making it one of the largest rural BPOs in the banking sector.

Full Story: HDFC Bank launches rural BPO

Even though the data is apparently a bit screwy, I was still really proud to see Utah emerge as the top state for "Linux" searches on Google. The data also shows that Cubans prefer "Linux" to "sex," which is almost certainly not true, but I think there may actually be something to Utah's strong affinity for Linux, at least as it relates to searched

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Full Story: Linux And Sex Battle it Out in Utah

SQL injection attacks can allow hackers to execute arbitrary SQL commands on your database through your Web site. To avoid these attacks, every piece of data supplied by a user on a Web form, through HTTP Post or CGI parameters, or other means, must be validated to not contain information that is not expected, GreenSQL is a firewall for SQL.

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Full Story: How To Protect MySQL Database From SQL Injection Attacks

In the Fedora breach, company officials said they had "high confidence" the hackers did not get the "passphrase used to secure the Fedora package signing key."...In the Red Hat compromise, the intruder was able to sign a small number of OpenSSH packages relating to Red Hat Enterprise Linux 4 [i386, x86_64] and Red Hat Enterprise Linux 5 [x86_64].

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Full Story: Red Hat Infrastructure Servers Hacked, Cracked & Compromised

WASHINGTON - Construction of homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday.

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The Commerce Department said that builders broke ground on 965,000 housing units on an annualized basis. That was down from a pace of 1.08 million in June and the weakest showing since March 1991. However, July's performance was better than analysts expected. Wall Street economists forecast that housing starts would drop to a pace of 950,000.

Full Story: Housing starts dip to lowest level since March '91 (AP)

Elastic Tapes Blog, News and Updates

Rather than have nerdgasms over a theme that will never ship with the next version of Ubuntu instead throw your support behind this gorgeous theme that is actually possible. Let's show Canonical that we want something sleek and sophisticated that can actually ship.

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Full Story: A really sexy Ubuntu theme that is actually possible!!

T hat's a question we routinely hear nowadays. Ever since the equity markets have been engulfed by volatility, the most frequently heard piece of advice is - invest via the systematic investment plan route for the long-term. While regular visitors and clients of Personalfn have since long bought into the merits of SIP investing, we are rather surprised to note that it took a prolonged volatile phase for most investment experts/advisors to appreciate the importance of SIP investing.

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Coming back to the original question - which is the best SIP? Thanks to all the hype around SIPs, several investors have been led to believe that the SIP is an investment avenue. Furthermore, the panacea to the present testing phase is to select the best SIP and get invested therein. The SIP is simply an investment mode i.e. a means to invest in mutual funds and not an investment avenue . When an investor chooses to invest via an SIP, he makes investments (usually) in smaller denominations at regular time intervals as opposed to making a single lump sum investment. The underlying intention is to benefit from the volatility in equity markets by lowering the average purchase cost. In this article, we discuss the pros and cons of SIP investing.

Full Story: Which is the best SIP?

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MEXICO CITY - Mexico's economy expanded 2.8 percent in the second quarter, up slightly over 2.6 percent growth in the first three months of the year.

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A Thursday statement from the National Statistics Institute said the farming sector led gains, posting 4.4 percent growth from a year earlier amid rising food prices. Mexico expects growth to slow as the U.S. economy cools, prompting the Finance Ministry cut its 2008 growth estimate to 2.8 percent from 3.7 percent.

Full Story: Mexico GDP grows 2.8 percent in 2nd quarter (AP)

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Olympics aside,summer 2008 will be remembered for at least two other reasons. It will be seen as a time when the noise over Linux as a platform for mobile devices reached a crescendo. Second: it marked Debian's 15th anniversary.Bringing both together, Debian developers have delivered a version of their Linux distro for Openmoko's FreeRunner handset

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Full Story: Debian Delivers Freerunner Open-Phone Package

LONDON - British economic growth ground to a halt between April and June, ending more than 15 years of continuous expansion, the government said Friday, as many fear the country is headed for recession.

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The growth figure of 0.0 percent is below even the modest 0.2 percent that the Office for National Statistics had predicted. It ends a run of 63 consecutive quarters — nearly 16 years — of growth since the April to June period of 1992, when Britain's gross domestic product shrank.

Full Story: UK economic growth ground to a halt in Q2 (AP)

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This is a mockup that was put together for a possible look and feel for the next Ubuntu release (Intrepid Ibex), which is due out in October. And it looks amazing. And, in all reality, it is very easily doable. If Ubuntu 8.10 does not look like this... it will be a crime against humanity.

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Full Story: What Ubuntu 8.10 SHOULD look like.

REEDSVILLE, W.Va. - Mud is flying, smoke and steam are rising, and the deafening roar of V-8 engines all but drowns out 5-year-old Shelby Scott's screams.

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"Get out of there! Get out of there!" she yells at the driver of a battered blue Ford LTD spray-painted with the words "Hillbilly Beer Wagon." But car No. 42 stalls in the center of the tire-ringed oval, stranded while 11 others smash into each other, over and over, until only one is moving. Then Dave Cumpston climbs out of No. 29 through the space where the windshield should be and grabs a shiny trophy at the Valley District Fair Demolition Derby .

Full Story: Demolition derbies take hit from high scrap prices (AP)

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] , the country's largest lender, is on an outsourcing overdrive. After outsourcing the back-office work in foreign offices, the bank has now decided to rope in external agencies to set up automated teller machines to save on capital expenditure and reduce the rollout time. It plans to initially outsource 500 ATMs to vendors, including original equipment manufacturers.

SBI intends to take the ATMs tally from the current 8,600 to 25,000 by March 2010. This entails large capital expenditure and management time, a senior executive said. "If the bank can provide better customer services (ATM facilities) without buying machines, why not? It is possible to save on capital expenditure," the executive added. He did not spell out the extent of savings.

Full Story: SBI to outsource rollout of ATMs

Graphics and photography have been Apple’s chasse gardée for years but for quite some time, MS Windows is on par with the Mac and the system of choice for photographers boils down to personal preferences more than anything else. So what about Linux then?

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Full Story: Using Linux for Photography, where we stand

fell more than expected last week, the second straight drop from a six-year high, according to government data released Thursday.

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The Labor Department reported that applications for jobless benefits dropped to 432,000, down by 13,000 from the previous week. It was a bigger improvement than analysts expected. But claims remain elevated compared with recent years. The four-week average climbed to 445,750, the highest level in almost seven years.

Full Story: Jobless claims fall for second straight week (AP)

Elastic Tapes Blog, News and Updates

The Linux landscape is constantly changing and has a strong community of both developers and users. But where is Linux the most popular, and where are the different Linux distributions the most popular?

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Full Story: Linux popularity across the globe

TOKYO - Japan's trade surplus in July fell 86.6 percent from a year earlier as spending on imports grew because of higher prices for oil and other commodities, the government said Thursday.

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The surplus shrank to 91.1 billion yen ($830.6 million), marking the fifth straight month of decline, the Finance Ministry said. Overall imports grew 18.2 percent to 7.54 trillion yen ($68.7 billion) in July, while exports rose 8.1 percent to 7.63 trillion yen ($69.6 billion), the ministry said.

Full Story: Japan's trade surplus falls 86.6 percent in July (AP)

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Columnist John Dvorak thinks that Adobe Systems has a Microsoft problem and that Linux provides a clear solution: Adobe could port its Creative Suite...to Linux as a shot across Redmond's bow. Then the company should race Linux in-house and develop a complete, optimized Linux OS...

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Full Story: Would Linux help Adobe pummel Microsoft?

announced Wednesday. The number of worker deaths dropped to 5,488 last year — the fewest since the Bureau of Labor Statistics began keeping track in 1992. That's down 6 percent from the 5,840 deaths reported in 2006.

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Still, the government found significant increases in some types of fatal injuries: a record number of workers died from falls and the number of workplace homicides increased 13 percent. The nation's most dangerous jobs , according to the Bureau of Labor Statistics? Fishers and related fishing workers (with a rate of 111.8 fatal injuries per 100,000 workers), logging workers (86.4), aircraft pilots and flight engineers (66.7) and structural iron and steel workers (45.5).

Full Story: Labor Dept: Fewer workers killed on job in 2007 (AP)

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Linux has no shortage of audio and video players, but if you want to devote you whole system to multimedia use, you need the Xbox Media Center (XBMC). Although initially designed for the Xbox gaming console, XBMC has been ported to other platforms. The Linux port of XBMC that I use is quite usable, especially for video playback.

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Full Story: XBMC's Linux Port Lacks Impressive Features

Sky-rocketing inflation and the subsequent stringent monetary measures initiated by the Reserve Bank to curb it have not impacted the pace of fresh capital investment, a Centre for Monitoring Indian Economy report has said.

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"Rising inflation and the RBI's attempts to combat it through monetary tightening are leading to fears of the investment boom in India cooling off," the CMIE said. The pace of fresh capital investment, however, continues unabated, the think thank said. "The relentless rise in the flow of fresh capital investments reflects India Inc's confidence in the continuation of buoyancy in the consumption demand." According to the report, although rising interest rates are expected to dampen the profitability of Indian corporates, "it is not a very significant burden to make them cancel their fresh investment plans or stall those under implementation".

Full Story: Investment not hit by inflation, RBI moves: CMIE

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WASHINGTON - Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, according to government data released Tuesday.

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The Labor Department reported that wholesale prices shot up 1.2 percent in July, pushed higher by rising costs for energy, motor vehicles and other products. The increase was more than twice the 0.5 percent gain that economists expected. Core prices, which exclude food and energy, rose 0.7 percent. That increase was the biggest since November 2006 and more than triple the 0.2 percent rise in core prices that had been expected.

Full Story: Wholesale prices rising at fastest pace since 1981 (AP)

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I checked out the bank of beat up Gateways with vagabond keyboards in the corner. I wiggle the mouse, and up pops the Ubuntu Heron! Wow!The neat part is that other people are actually using them.

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Full Story: Ubuntu at Toyota

TOKYO - Japan's economy shrank in the second quarter, the government said Wednesday, as slowing exports and waning consumer demand pushed the world's No. 2 economy to the brink of recession.

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Japan's gross domestic product, or the total value of the nation's goods and services, dropped at an annual pace of 2.4 percent in the April-June period, a marked downturn from a 4.0 percent rise registered in the January-March period. The new numbers — the first negative reading in four quarters — bolstered growing evidence that Japan 's six-year expansion was over.

Full Story: Japan's economy shrinks in second quarter (AP)

Elastic Tapes Blog, News and Updates

When it comes to Linux there are 3 kinds of people, those who never heard of it, those who are afraid of it, and those who hate it and spread falsities about it.

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Full Story: 9 Linux Myth Debunked

A t Personalfn , we routinely interact with investors. And ever since the equity markets turned volatile, we have (expectedly) come face to face with several hassled and confused investors. Another pattern we have noticed is that a number of investors have similar concerns. We thought it would be interesting to address the 5 most common questions that investors are faced with now.

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Is this the right time to invest in equities? With equity markets descending from their record highs, several investors want to know if this is the right time to invest in equities. More importantly, they would like to know if markets have bottomed out. As regards the former, it can be safely stated that the markets are attractively poised in terms of valuations. So does that mean investors across the board should get invested in equities? Not really. Only investors who can take on the risk associated with an equity investment should consider getting invested. Also, investors should be willing to stay invested for the long haul (at least 3-5 years).

Full Story: 5 questions investors are asking now

Elastic Straps Blog, News and Updates

Growth in the 15 economies that share the euro currency contracted by 0.2 percent from the first quarter, expanding just 1.5 percent from the same period a year ago, the EU statistical agency Eurostat said in a first estimate that it may change at a later date.

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Germany, the region's largest economy, shrank 0.5 percent in April-June from the previous quarter with France and Italy both down 0.3 percent. German growth dropped for the first time in nearly four years. The world's biggest exporter had so far weathered the economic storm brewing in Europe despite high inflation hitting spending at home and a slowing world economy and a strong euro hurting exports to the U.S.

Full Story: EU: Euro economy shrinks in second quarter (AP)

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A meeting with the staffs at the bank's lending services centre in Auckland and customer transaction service centre in Wellington took place on Tuesday, which according to NZPA report is the beginning of a two-week consultation period over the outsourcing of the work to India.

Meanwhile, Finance workers union Finsec accused the Australian-owned bank of being greedy and a bad corporate citizen. The work will be done in India at a quarter of the cost, the report said. The bank disputed the union's claim of job losses when the story first broke, saying that the back office workers would be offered the chance to work in bank branches, report said.

Full Story: New Zealand Bank to send jobs to India

Nokia and Mozilla have ported the Firefox web browser to Qt so that it will be able to run on a wide range of mobile devices. The port will also finally Firefox get visual integration with KDE.

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Full Story: Nokia helps port Firefox to Qt

W hen home prices are going up, your equity in your home also goes up. Let's understand this with an example. Consider, three years back you bought a property for Rs 50 lakh (Rs 5 million), with Rs 500,000 as down payment and a home loan of Rs 45 lakh (Rs 4.5 million). Now, if the property is priced at Rs 1 crore (Rs 10 million), it means that even if you were to sell it off and repay the entire home loan, you would still make around Rs 55 lakh (Rs 5.5 million) as net profit.

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The other advantage is the rise in the price would also make you eligible for an additional loan against the property. Known as the concept of home equity, this is quite a common product in the US. In India, most banks call it as a top-up loan, where borrowers can garner further amounts, based on the existing valuation of the property. While the rise in property prices leads to an increase in home equity, the reverse is also true. That is, when prices of property fall, your home equity diminishes. In recent times, there have been reports of real estate prices cooling off. A reality check also establishes that very few transactions are happening today. This could lead to some price corrections, and quite sharply, in areas where prices have risen too fast, too soon.

Full Story: Paying EMIs on time, but still a defaulter!

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he purpose of this document is to help developers (and their managers) work with the development community with a minimum of frustration. It is an attempt to document how this community works in a way which is accessible to those who are not intimately familiar with Linux kernel development (or, indeed, free software development in general).

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Full Story: A GUIDE TO THE KERNEL DEVELOPMENT PROCESS

Coming from Windows ? Need help regarding Linux .. Then this thread is for you ! Here I will try to clear your confusion/misconception regarding basic terms like Partitioning , Installing Applications, The Desktop, The OS and Kernel , Gnome/KDE and the day to day applications..

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Full Story: Things To Know Before Using Linux

Now while you are at it, take a look at these websites that provide extensive documentation to step-by-step howtos, and also community support.Now while there are scores of material worthy of a mention, in the Internet, I list the ones that every new user must bookmark, or atleast take a look at.

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Full Story: 5 websites every Linux user should visit

Most Linux Distribution websites have been redesigned to sport a Web 2.0 look. To give credit to their talented web designers/developers, I’ll pick 10 Linux Distribution websites that I think stand out from the rest. Beauty is in the eye of the beholder, so you don’t have to agree with me.



Full Story: 10 Best-designed Linux Distribution Websites

Adobe could port its Creative Suite to Linux as a shot across Redmond's bow.



Full Story: How Adobe can stop Microsoft: Attack with a Linux initiative

The Labor Department reported Thursday that applications for jobless benefits dropped to 450,000, down by 10,000 from the previous week. That was a smaller decline than had been expected and left the four-week average for claims at the highest level in six years.

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The big jump in the four-week average for claims was attributed to a number of factors, including a surge in layoffs and increased publicity surrounding an extension of benefits provided by a law Congress passed in June. The four-week average reached 440,500, up 19,500 from last week's revised average of 421,000. A year ago, that number stood at 315,500.

Full Story: Jobless claims fall less than expected (AP)

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With DrasticGrid, you can easily put a MySQL database table or view on a Web page, complete with editing, sorting, and pagination capabilities, and support for adding and deleting records. DrasticGrid is one of three controls from DrasticData -- the others are a tag cloud and Google Maps controller, both of which also get their data from a MySQL



Full Story: Quickly put data from MySQL to the Web with DrasticGrid

WASHINGTON - Industrial output rose in July at a slightly better pace than expected as a further rebound in the auto industry offset a big plunge in output at the nation's utilities.

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The Federal Reserve reported Friday that industrial production edged up 0.2 percent last month. That was half the pace of the 0.4 percent gain in June, but it did surpass analysts' expectations for flat production in July. These gains were not seen as signaling a sustained rebound, however, given the problems facing the auto industry this year. Instead, the rebound in auto activity was viewed as a temporary improvement because a strike ended at parts supplier American Axle .

Full Story: Industrial output up 0.2 percent in July (AP)

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, the UK-based insurer may drop plans of absorbing the outsourcing operations from its existing vendors, including WNS Global Services, EXL Services and 24x7 Services, sources who declined to be identified said. The outsourcing deal is valued at $1 billion over a 10-year period.

Aviva's BPO operations are run by Aviva Global Services on a built-operate-transfer (BOT) basis and managed by WNS Global, EXL and 24x7 Services. The insurer had plans to absorb these operations over a period of time. "We have been reviewing our offshore operations and that review is now coming to a close. We expect to announce our decision shortly and will let you know as soon as we have further information," an Aviva Global Services (AGS) spokesperson said. The executives of WNS and EXL Services declined to comment on the matter.

Full Story: Aviva may not absorb vendors' operations

In this tutorial, you learn about cross-compiling, the boot loader, file systems, the root file system, disk images, and the boot process, all with respect to the decisions you make as you're building the system and creating the distribution.



Full Story: Build an embedded Linux distro from scratch

WASHINGTON - Inflation is running at the fastest pace in 17 years, the job market is under further strain and foreclosure filings are surging.

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A raft of gloomy economic data on Thursday represented a setback for those hoping to see signs of better times ahead and it may keep the Federal Reserve jammed between rising inflation and slowing growth. The Labor Department reported that consumer prices shot up by 0.8 percent in July, double the increase that economists had expected. The rise was only slightly lower than the 1.1 percent surge in June that had been the second-highest monthly increase in the last 26 years.

Full Story: Consumer prices surge, job market remains strained (AP)

Elastic Tapes Blog, News and Updates

National Australia Bank is expected to send another 400 information technology jobs to India by the end of the year.

] and Oracle to develop its billion-dollar, next-generation platform, which will form the key pillar in the bank's technology transformation plan, dubbed Program NEOS. NAB chief information officer Michelle Tredenick told technology staff this week that it was ramping up its offshoring initiatives as part of Program NEOS, in an email quoted by The Australian .

Full Story: Australian bank to offshore 400 IT jobs to India

Who says you have to give up your must-have Windows applications when you migrate to Linux? If you can't leave some crucial Windows program behind, you can run it using CodeWeavers' latest version of CrossOver Linux.



Full Story: Windows apps on Linux the CrossOver way

WASHINGTON - Government data show businesses added to their inventories in June at the fastest pace in five months, a bigger gain than had been expected.

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The Commerce Department reported Wednesday that stockpiles held by businesses on shelves and backlots rose by 0.7 percent in June, nearly double the 0.4 percent rise in May. It's the biggest increase since a 1 percent rise in inventories in January and is bigger than the 0.5 percent rise that economists had been expecting.

Full Story: Business inventories post 0.7 percent increase (AP)

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Offshoring to low-cost places like India may have been perceived as the key reason for job losses in the Western world, but it is mostly internal restructuring that is behind the falling employment rate at European banks, a new report has said.

"Less than 10 per cent of all publicly announced job cuts at European banks since 2002 are due to offshoring. Internal restructuring accounts for the lion's share," according to a latest research report by German banking giant Deutsche Bank. The recent decline in employment rate of European banks is because of internal restructuring and not due to job-offshoring to various countries including India, it said.

Full Story: Europe job-losses not due to offshoring: Report

Full Story: if ($again == /^[yY]$/) { print("Re-running the test..."); }

WASHINGTON - Retail sales fell in July, the weakest performance in five months, as shoppers shunned autos and other big ticket items.

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The Commerce Department reported Wednesday that retail sales dipped 0.1 percent last month when a variety of economic woes combined to blunt the impact of billions of dollars in government stimulus payments to U.S. households. It was the first decline since sales had fallen by 0.5 percent in February and it was a worse showing than the flat reading economists had been expecting. The new report did revise higher the estimate for June, showing sales rose by 0.3 percent that month rather than the 0.1 percent initial reading.

Full Story: Retail sales drop for first time in 5 months (AP)

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The Hinduja Group-promoted business process outsourcing firm HTMT Global Solutions has set aside Rs 400 crore (Rs 4 billion) to close two acquisition deals in the US by the end of this year.

Both US companies, with a headcount of 4,000 plus each, offer services in the finance and accounting and remote infrastructure management space in the US and Canada. Subramanya C, global chief technology officer, HTMT Global Solutions, said, "Apart from the current cash on the balance sheet, we can also raise double the amount to fund our inorganic growth plans. We are aggressively looking at acquiring companies that have the right size and the skills that complement our existing verticals." Currently, the company is offering its services in multiple verticals including BFSI, Healthcare, telecommunications among others. The company is also looking to expand its foothold in China and Europe.

Full Story: HTMT to buy two US firms by year-end

Just two weeks after the last release, version 1.2.1 of the popular free software media player is out! Check it out for much improved translation coverage, ability to DnD your albums and artists onto playlists and the play queue, improved Amarok migration, ASX playlist, mms:// support, and a handful of bug fixes. Click to download it for free!



Full Story: Banshee 1.2.1 Released

T he immediate impact of rising inflation is clearly visible on interest rates, which have also been moving up. That in turn is also reflecting on economic and corporate growth. Such a situation will bring with it a number of challenges for companies as they seek to fund their day-to-day operations as well as manage future growth.

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In a rising interest rates scenario, where easy money gets wiped out (thanks to equities turning unattractive), banks also turn stringent while lending to companies. For now, the fact that the prime lending rates, at which companies typically borrow from banks, have shot up and currently hover at about 15-17 per cent as against the 12-13 per cent three years back is a matter of concern.

Full Story: 5 great tips for investors to play safe

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WASHINGTON - Farmers are on pace to produce the second largest corn crop and fourth largest soybean crop in history, the government said Tuesday.

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In its first estimates this year based on actual field visits and farmer surveys, the U.S. Department of Agriculture raised its estimate of corn production and said improved weather has helped Midwestern farmers recover from June's devastating floods. That recovery is expected to lead to lower prices for corn, soybeans and wheat, providing some relief to meat producers who use corn and soybeans for feed and for makers of corn-based ethanol.

Full Story: USDA raises corn harvest estimates, cuts soybeans (AP)

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Global consulting and technology services major Accenture is planning to expand the company's business process outsourcing footprint in India by increasing its headcount to 50,000 employees in the next five years and opening more centres in various cities.

"We would be increasing our headcount from 37,000 to 50,000 in the next five years and set up more centres. Most of our business would be focused on the third party solutions and a little bit on the captive sector," Accenture BPO Lead Executive P G Raghuraman told PTI. The company is also seeking to tap the BPO industry by securing new acquisitions in the domestic market. "In the last quarter, we made 10 acquisitions globally and there is lot of scope for replicating this in the country." He, however, refrained from mentioning the names of the firms Accenture BPO is eyeing presently.

Full Story: Accenture BPO to hire 13,000 people

Professionals who work on the basis of billable hours rarely take the time out to write an article for publication unless they have a valid reason for doing so. That's why I'm generally a bit sceptical when lawyers come out with articles that attempt to make a case against the use of free and open source sofware.



Full Story: Why lawyers don't like Linux

A midst the stock market volatility, it is not surprising to find investors who have all but redeemed their investments. Considering the losses incurred, investors are now exploring investment opportunities in avenues beyond equities. These avenues even have a fancy name - structured products.

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Structured products, is the latest buzzword among investors and fund houses alike. Many investors are enticed by the investment proposition offered by these products. Fund houses on their part are only willing to launch more products to feed their popularity among investors. Most investors believe that structured products are designed in a manner that equips them to deliver superior returns. Besides, they also consider them to be less risky.

Full Story: Are structured products good enough?

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WASHINGTON - More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.

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The Federal Reserve said Monday the percentage of banks reporting tighter lending standards rose across various loan types in its July survey. In April, the central bank had found that the percentage of banks reporting tighter lending standards was already near historic highs. The new survey, conducted in early July, found that about 75 percent of the banks surveyed indicated they had tightened their lending standards for prime mortgages. That was up from about 60 percent of banks who said they were tightening lending standards for prime mortgages in the previous survey.

Full Story: Federal Reserve finds deepening credit crisis (AP)

Elastic Tapes Blog, News and Updates

Publicis India, the country's sixth largest advertising agency by revenue, said it is planning to set up an outsourcing division to cash in on the offshoring trend.

With significantly higher margins in the business and a growing demand in the developed countries for Indian creative work, leading agencies such as Lowe, McCann Erickson, Ogilvy & Mather and Mudra, are mulling over outsourcing operations. "Our goal is to double our revenues in the next three years. Among some of the new initiatives we have taken is the launch of a brand design agency Red Lion. We are also considering an outsourcing division," Nakul Chopra, the newly-appointed CEO of Publicis, South Asia, told Business Standard .

Full Story: Publicis to set up outsourcing unit in India

During the LinuxWorld expo in San Francisco, I met with Linux Foundation president Jim Zemlin to talk about the future of the open-source Linux operating system and the impact it will have on emerging mobile and embedded technologies.



Full Story: Linux everywhere: mobile Internet devices and the cloud

R etirement marks the beginning of a new phase in an individual's life. It's a transition from a lifetime of work to a time when one can relax, spend time with the family and pursue other interests. Not only this, retirement also marks a transition in one's finances. With a regular stream of income no longer available, the savings made over one's working years now have to provide for all his needs.

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Given the kind of challenges that retirement can throw up, it isn't surprising that any financial planner worth his salt would recommend that retirement planning should be given its due importance and started as early as possible. However, there is another (often ignored) set of investors - retirees. Individuals who are already retired and need to get invested now. For such investors, capital protection and liquidity are priorities. In this article we profile some investment avenues that retirees can consider adding to their portfolios.

Full Story: Retired? 6 great investment plans

Elastic Straps Blog, News and Updates

The bank says annual inflation rose to 5.39 percent in July, the highest since November 2004 .

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It said Thursday that the soaring cost of foods such as eggs and apples, and of gasoline, electricity and public transportation contributed to the spike. The central bank had set a 3 percent inflation target for 2008. On July 30, the bank said that won't be likely met until 2010 due to rising commodity prices.

Full Story: Mexico's annual inflation hits 3-year high in July (AP)

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Ask any independent software vendor what he hates most about developing for Linux and he'll tell you that it's having to develop for SUSE and for Red Hat and for Ubuntu and ... you get the idea. The Linux Foundation has just released a beta of a new program, Linux Application Checker (AppChecker), that's going to make ISVs and other programmers sta



Full Story: Linux Foundation launches killer development tool

NEW YORK - The outlook for the back-to-school shopping season looked grim Thursday, as retailers' July sales reports showed an increasing shift toward buying necessities like food and household supplies at discounters and away from discretionary splurges on clothing.

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With the benefits of the government stimulus checks fading, the big worry is how much shoppers — squeezed by high gas and food prices — will retrench in the critical months ahead. As the nation's retailers reported monthly sales, Wal-Mart Stores Inc . and Costco Wholesale Corp . posted solid gains.

Full Story: Retailers report mixed sales results in July (AP)

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LinuxWorld is the E3 for many open source visionaries, tinkerers and zealots who rally around the communal ethos of open software. This year's conference is especially charged. As more open source projects like Firefox go mainstream, it's an exciting time for the GNU gurus to show the rest of the world the light.



Full Story: Gallery: Rise of the Open Source at LinuxWorld

WASHINGTON - Rising prices, falling home values, stagnant wages and tight credit. It's a potent combination that has struck the American consumer hard.

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In June, the second biggest rise in prices in nearly three decades muted the impact of billions of dollars in government stimulus payments, government figures showed Monday. Incomes barely budged in June and consumer spending retreated after taking into account the higher prices for food, energy and other items, the Commerce Department data show.

Full Story: Rising prices stifle impact of stimulus payments (AP)

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The US sub-prime crisis may have affected the fortunes of Indian IT firms, which have clients with mortgage exposure, but the country's legal process outsourcing outfits are laughing their way to the bank as American law firms have begun offshoring the credit crisis-related work.

The portfolio includes legal analytics, discovery and litigation support, and first-line document drafting. This is in addition to the renewed demand for traditional LPO skill sets like bankruptcy filing and processing, and claims' scrutiny out of India. The 200-odd LPO firms in India include SDD Global, Evalueserve, Integreon, OfficeTiger, CPA Global, Mindcrest and Pangea3, besides service providers such as Infosys BPO, Quattro BPO and Wipro BPO.

Full Story: Sub-prime swells coffers of Indian LPOs

I just wanted to extended a huge “thank you!” to all of the Ubuntu community. Today Ubuntu won the “Best Desktop Solution” Product Excellence Award at LinuxWorld Conference and Expo 2008 in San Francisco, California for a second consecutive year.



Full Story: Ubuntu wins “Best Desktop Solution” at Linux World Expo 2008

has decided to remain on the sidelines and leave interest rates alone. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.

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The thinking is that the Fed doesn't want to cut interest rates further because of concerns about inflation. However, at the same time, the majority of Fed officials don't want to start raising interest rates because the economy is still hobbled by mounting job losses, a prolonged housing slump and a severe credit crisis. The Fed cited both worries about inflation and weak economic activity in the statement it released after Tuesday's meeting explaining its decision to leave its target for the federal funds rate, the interest that banks charge each other, unchanged at 2 percent.

Full Story: Fed leaves rates alone for second straight meeting (AP)

Elastic Tapes Blog, News and Updates

Warning bells are ringing on Bangalore's future as a leading BPO destination. It is not a full-blown crisis yet but the portents are disturbing, according to a cross section of industry, human resource and real estate experts.

"From January 2008, only a handful of BPO companies have set up shop in Bangalore, as against an average two or three companies beginning operations every month in 2007," says a source in a real estate consulting firm. "Of late, we don't hear of too many companies coming to Bangalore, whereas we have seen many BPO companies starting operations in cities like Chennai, Noida, Kolkata and Kochi. I feel Karnataka is losing its advantage as a BPO destination," said S Nagarajan, founder and chief people officer of 24/7 Customer, a Bangalore-based BPO firm which employs around 7,000 people across various cities in India.

Full Story: Warning bells ring over Bangalore as BPO destination

A vendor of Linux-based WiFi arrays is finally releasing a version of its WiFi Monitor utility for Linux desktops. The open source, widget-like Xirrus WiFi Monitor for Linux enables users to monitor, secure, and troubleshoot WiFi networks, says Xirrus.



Full Story: WiFi software arrives on Linux desktops

T he turbulence in equity markets has impacted more investors than one would have initially thought. The hardest hit are those who invest directly in the stock markets (i.e. direct equities). Then there are investors who aim at diluting the risk of investing directly in equities by routing their investments through mutual funds.

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Expectedly, this category of investors has also felt the heat from the stock market turbulence. There is yet another category of investors to rival both these categories in terms of equity investments i.e. ULIP (unit linked insurance plan) investors. If too many visitors haven't given a thought to the fact that ULIP investors have considerable investments in equities, it's largely because ULIPs are a mixture of insurance and investments, and sold under varying (marketing) guises depending on the situation.

Full Story: Having second thoughts about your ULIP?

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The single European currency in late-day trade was at 1.5469 dollars against 1.5580 late Monday in New York .

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Oil prices fell below 119 dollars a barrel on Tuesday on concerns that a US economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products. That position benefited the US dollar and the yen in particular as the economies of the United States and Japan are seen as gaining the most from lower oil prices.

Full Story: Dollar holds firm as Fed decision awaited (AFP)

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Essar group-owned Aegis BPO on Monday said it will acquire Philippines-based BPO, PeopleSupport, for $250 million (around Rs 1,050 crore) in an all-cash deal.

The Mumbai-based BPO, which announced a definitive agreement to merge with the latter through Essar Services (Mauritius), its wholly-owned subsidiary, said the deal is expected to be concluded by the third or fourth quarter. The merger, to be called Aegis PeopleSupport in the Philippines, has been unanimously approved by the boards of the respective companies. When completed, the PeopleSupport buy will become Aegis BPO's 11th acquisition in the last two-and-half years. The company recently acquired the call centre facility of global internet firm AOL in Bangalore for about Rs 120 crore (Rs 1.2 billion).

Full Story: Essar arm to buy BPO in Philippines

Novell, Mohammed Ali & IBM are behind the top 5 linux commercials.



Full Story: Top 5 Linux Commercials

Economists said that the Federal Open Market Committee (FOMC) will likely stand firm, despite a report Monday showing a cooldown in consumer spending and a spike in inflation pressures.

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Analysts say the Fed is caught between a rock and a hard place because a cut in the federal funds rate could trigger increased inflationary pressures while a rate hike could strangle fragile economic momentum. Thus, Fed chairman Ben Bernanke and his fellow central bankers are expected to sit on their hands during Tuesday's policy meeting.

Full Story: Fed likely to keep rates on hold amid economic uncertainty (AFP)

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The internet has been ablaze with news about the Kaminsky DNS vulnerability over the last week or so, especially in light of some vendors’ taking their sweet time with supplying a fix.



Full Story: Don’t be a Victim of DNS Security Holes

The Chinese method of maintaining export competitiveness is to peg a low Yuan to the USD. By ploughing export earnings back into US treasuries, China also ensures that US interest rates stay low and hence, consumer demand is high.

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The problem is, the US is in trouble and the Chinese strategy has led to the People's Republic of China's economy becoming highly-correlated to America. China cannot pull reserves out of US bond markets without causing a crash that may destroy its cash-cow.  Indian exporters suffer less from similar overdependence on the dollar and US markets. But unlike the pegged Yuan, the rupee has swung wildly in the last 18 months. The short-term direction now depends on two factors. Appreciation will occur if widening yield differentials post the repo-hike triggers higher inflows despite likely downgrades of Indian debt. It will depreciate if portfolio investors continue to sell in large quantities.

Full Story: It's safe to invest in debt-free cos

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SAN FRANCISCO (Reuters) - California's battered homes market may be hitting bottom, suggesting a national housing recovery may follow, veteran banking analyst Charles Peabody said on Friday, citing a rebound in home sales as renters become owners.

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In many parts of California, buying a house, especially at auction, makes more financial sense than paying rent so home sales have been on the rise recently. "The key is to try to get some stability in the price of homes, which appears to be happening in California," Peabody, of the independent research firm Portales Partners, told Reuters by phone on Friday.

Full Story: California hints at bottom to housing slump (Reuters)

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We are often asked to build a RHEL 5 kernel (e.g., RHEL 5.2) on Power systems for evaluating a new kernel patch or investigating a performance issue. It is actually fairly easy to build the distro kernel if you are careful with the details.Here we will present the simple steps for re-building the ppc64 RHEL 5.2 kernel as delivered by the distro.



Full Story: Re-building a RHEL 5 kernel for Power

Rating Services warned against mortgage-related debt products in internal e-mails that, in one case, called the complex financial deals "ridiculous," the Wall Street Journal reported in its weekend edition.

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The Journal cited a draft revision of a U.S. Securities and Exchange Commission report on bond-rating firms that was first released on July 8. Copyright © 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Full Story: S&P emails slammed mortgage debt products: report (Reuters)

Elastic Tapes Blog, News and Updates

AIR (Adobe Integrated Runtime) is a wrapper around a set of technologies that enables developers to build rich Internet applications that deploy on the desktop. Applications are created using a mixture of JavaScript, HTML, and Flash. The resulting application is delivered to end users in a single package and rendered using the WebKit HTML engine.



Full Story: An Introduction to Adobe Integrated Runtime

climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.

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Payroll cuts weren't as deep as the 72,000 predicted by economists, however. And, job losses for both May and June were smaller than previously reported. July's reductions marked the seventh straight month where employers eliminated jobs. The economy has lost a total of 463,000 jobs so far this year.

Full Story: Jobless rate rises to 4-year high of 5.7 percent (AP)

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Children have not yet learned to be selectively ignorant of technology or afraid of what they are told to be afraid of.



Full Story: Is it possible that Linux is going to surpass Mac?

PORTLAND, Oregon (Reuters) - As high gas prices force U.S. drivers to share city streets with a growing legion of cyclists, tensions are mounting between the two groups who blame each other for failing to find a peaceful balance.

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A number of violent confrontations in recent weeks between cyclists and drivers have weighed on Portland's reputation as America's most bike-friendly city, while accidents and "road rage" incidents are prompting other cities to try and make the roads safer for bikes and ease the hostility. In mid-July, an angry driver chased down a Portland cyclist and carried him for several blocks on the car's hood. Before that, a cyclist, upset at a driver who yelled at him for riding through a stop sign, threw his bike at the car and then attacked the driver.

Full Story: Cyclists and drivers struggle for harmony (Reuters)

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The next version Debian has come a step closer to completion with the freezing of the current testing distribution version codename Lenny. This will form the basis of Debian 5.0, expected in September.



Full Story: Next Debian's 'Lenny' frozen