September 2008 Archives

. The settlement was reached Thursday, just days before a trial was to begin in Delaware in the case that challenged commissions AIG paid to C.V. Starr & Co. That's a privately held affiliate controlled by former AIG chairman Maurice "Hank" Greenberg and three other AIG directors.

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Attorneys representing the Teachers Retirement System of Louisiana say the settlement includes a $29.5 million payment from Greenberg and three other individual defendants. The plaintiffs alleged AIG could have done the work for which it paid Starr, and that the commissions were simply a mechanism for Greenberg and other Starr directors to line their pockets.

Full Story: Settlement reached in AIG shareholder lawsuit (AP)

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There's no doubt that Linux is a secure operating system. However, nothing is perfect. Millions of lines of code are churned through the kernel every second and it only takes a single programming mistake

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Full Story: How to Catch Linux System Intruders

rose unexpectedly last week, largely due to Hurricane Gustav, the government said Thursday, adding further strain to the economy.

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Layoffs can worsen the nation's economic woes as newly unemployed workers and those that fear for their jobs cut back on their spending and fall behind on their debts. "The key to consumers' ability to meet their obligations is whether they have a job," Chessen said.

Full Story: Jobless claims rise due to Hurricane Gustav (AP)

Elastic Tapes Blog, News and Updates

"Intrepid Ibex" Alpha 6 come some new features as well as lots of bug fixes.

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Full Story: Intrepid Ibex Alpha 6 | Ubuntu

WASHINGTON - Banks and Wall Street firms ramped up borrowing from the Federal Reserve's emergency lending facility over the past week, a fresh sign of the credit stresses plaguing the country.

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A Fed report released Thursday says commercial banks averaged $21.6 billion in daily borrowing over the past week. That compared with a daily average of $19.8 billion in the previous week. For the week ending Sept. 17, Wall Street firms drew such loans averaging $20.3 billion. That step-up comes after six straight weeks where they didn't draw any loans. Their borrowing averaged as high as $38.1 billion a day over the course of a week in early April.

Full Story: Banks, Wall Street firms borrow more from Fed (AP)

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Linux system calls -- we use them every day. But do you know how a system call is performed from user-space to the kernel? Explore the Linux system call interface (SCI), learn how to add new system calls and discover utilities related to the SCI.In this article, I explore the Linux SCI, demonstrate adding a system call to the 2.6.20 kernel.

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Full Story: Learn Kernel Command Using Linux System Calls

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 - Construction of new homes and apartments fell to the weakest pace in 17 years in August, far more than expected, but lower mortgage rates and tax credits have given builders some glimmer of hope of a possible rebound.

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Housing construction dropped a surprising 6.2 percent last month, the Commerce Department reported Wednesday, far larger than the 1.6 percent decline analysts had been expecting. It was the slowest building pace since January 1991, but that should help clear out bloated inventories of unsold homes. Building activity is on track to slide below the 1 million-mark for the whole year, the first time that has happened in more than six decades.

Full Story: Housing construction plunges 6.2 pct. in August (AP)

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On 17 September 1991 Linus was announcing the first version of the Linux kernel. (And yes in Romania it's 17 September already :D)

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Full Story: 17 years of Linux

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

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WASHINGTON - Construction of new homes and apartments fell to the lowest level in 17 years last month, showing the country is still gripped by a severe housing downturn that has triggered billions of dollars of losses and is reshaping the structure of U.S. finance.

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The Commerce Department reported Wednesday that housing construction dropped a surprise 6.2 percent last month to a seasonally adjusted annual rate of 895,000 units. That's the slowest building pace since January 1991, another period when housing was going through a painful correction. The decline is larger than the 1.6 percent drop analysts expected and showed weakness in all the country except the West.

Full Story: Housing construction plummets 6.2 pct. in August (AP)

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It's not that Linux isn't fast or efficient, but in some cases fast just isn't good enough. What's needed instead is the ability to deterministically meet scheduling deadlines with specific tolerances.Discover the various real-time Linux alternatives and how they achieve real time-from the early architectures to the current ones.

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Full Story: Anatomy of Real-time Linux Architectures

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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kept a key interest rate unchanged Tuesday, saying that strains in financial markets have "increased significantly" but that it would keep an eye on them and act, if needed.

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Some investors had hoped the Fed would cut rates after financial markets were stunned by investment bank Lehman Brothers ' failure over the weekend to find financing or a buyer. Stocks initially slumped on the Fed announcement with the Dow Jones industrial average dropping by about 100 points. However, in late afternoon trading the Dow was up nearly 84 points as investors took heart that the central bank did not believe the economy was in as much trouble as many had feared.

Full Story: Fed leaves key rate unchanged (AP)

Elastic Tapes Blog, News and Updates

Firefox 3.0 displays a EULA when it's first installed, and that has some Ubuntu users hopping mad. It's also sparked debate over the role of licensing in the open source community.

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Full Story: Ubuntu-Firefox EULA dustup reignites OSS licensing debate

I nvestors often make the mistake of investing in mutual funds without fully understanding the implications of the investment. One common area where investors are confused is with regards to aggressively managed equity funds.

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They invest in these funds without realising their true nature. The confusion occurs because investors are unable to fathom what gives such funds that 'aggressive edge'. In this note, we analyse the factors that set apart aggressively managed equity funds from other equity funds. At Personalfn, we maintain that a diversified equity fund should hold no more than 40 per cent of assets in the top ten stocks. This helps the fund counter stock market volatility more effectively. Aggressively managed funds usually have more than 40 per cent of their assets in the top 10 stocks.

Full Story: What sets aggressive equity funds apart?

Elastic Straps Blog, News and Updates

WASHINGTON - Consumer prices in August posted the first monthly decline in nearly two years as Americans finally get a break from surging energy prices.

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The Labor Department reported Tuesday that consumer prices edged down 0.1 percent last month, a significant improvement from a 1.1 percent price spike in June and a 0.8 percent rise in July. The cost of gasoline and other fuels have plunged, reflecting big drops in crude oil prices . The decline, which was in line with expectations, may give the Federal Reserve the room it needs to cut interest rates if Fed officials feel a rate reduction could help stabilize turbulent financial markets .

Full Story: Big fall in energy pushes consumer prices down (AP)

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A review of Linpus Linux Lite that comes pre-installed with Acer Aspire One Linux edition.

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Full Story: Linpus Linux Lite Review

F ew would dispute that the year 2008 has been tough on investors. This holds especially true for first-time investors i.e. the ones whose tryst with equity markets only began in the last few years. After having seen the markets surge to record highs, the downturn has certainly caught several investors off-guard.

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And the despondency is not restricted only to those who have participated in equity markets via the direct equity investment route. As a result, several investors are in panic mode . Some are even contemplating redeeming all their mutual fund investments and instead making investments in risk-free avenues like fixed deposits and bonds.

Full Story: Do you feel let down by your MF investments?

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The Federal Reserve reported Monday that industrial output dropped 1.1 percent last month, far worse than the 0.3 percent decline that economists had been expecting.

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The weakness was led by an 11.9 percent drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry. Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

Full Story: Output drops worse-than-expected 1.1 percent (AP)

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If you've worked on IBM AIX,another flavor of UNIX/Linux,you've more than likely used the vi editor.Since its conception in 1976,vi has become a staple for anyone wanting to edit files. How could someone make a more powerful editing tool than vi, you may ask?The answer is Vim,and this article provides details on the many enhancements & usage of vim

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Full Story: Speaking UNIX: The New and Improved Vim Editor

B eing financial planners, we regularly interact with investors to understand their needs and the problems they face while investing. And more often than not, their concern about debt instruments is unanimous.

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While most investors appreciate the importance of investing in debt (like debt funds, for instance), the lack of knowledge about debt instruments and their complicated nature, prevents them from venturing into this segment. Moreover, the jargon associated with debt instruments can be confusing for the average investor. That explains why debt investment remains a mystery for a majority of investors.

Full Story: Debt funds: Liquid versus liquid plus

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WASHINGTON - The largest drop in wholesale prices in nearly two years in August failed to spur consumers to spend more at the shopping malls, raising new worries about a possible recession as the temporary boost from tax rebate checks becomes a distant memory.

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The Labor Department reported Friday that wholesale prices declined 0.9 percent last month, nearly double the 0.5 percent drop that economists had expected, as the price of all types of energy from gasoline to natural gas fell sharply. The August slump followed an even bigger 0.5 percent decline in July, the weakest performance in five months and much worse than the 0.1 percent decline originally reported.

Full Story: Sales slide in August while price pressures abate (AP)

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In this article we're going to look at 10 useful tutorials showing you how to do stuff you always wanted to do - but just didn't figure out how. Easy step-by-step instructions with screenshots.

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Full Story: 10 things you wanted to do with Ubuntu but didn't know how

WASHINGTON - The Agriculture Department on Friday reduced its forecast for this year's corn and soybean harvests due to drier weather, potentially leading to higher commodity prices.

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U.S. corn production will be 12.1 billion bushels, down from its 12.3 billion estimate last month, the USDA said. The soybean crop is projected to be slightly lower, at 2.93 billion bushels, down from its earlier estimate of 2.97 billion. While the predicted corn crop will be 8 percent below last year's, it would still be the second largest on record. The soybean crop would be 13 percent higher than last year's and the fourth largest ever.

Full Story: USDA cuts estimates for corn, soybean harvests (AP)

Elastic Tapes Blog, News and Updates

It’s on everyone’s lips: the Swiss CERN’s 3-million-Euro Large Hadron Collider(LHC) research project. Scientific Linux is part of it.

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Full Story: Linux is Part of the Large Hadron Collider Grid

TOKYO - Japan's economy shrank at a 3 percent annual rate in the April-June quarter, the government said Friday in a lowered revision of an already pessimistic reading for the world's second biggest economy.

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Fears about a global downturn have been growing amid soaring prices of gas, steel, food and other goods. Signs of a slowdown in the U.S., Japan 's major trading partner, have added to the worries. The economy was expected to stay sluggish for the next few months, staying flat at best, and may continue to contract, Shikano said.

Full Story: Japan reports economy shrank 3 percent April-June (AP)

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but Linux CAN NOT have a “Look”...A Linux distro is basically someone saying: here’s a collection of packages that works well together, now keep it or change it as you wish.

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Full Story: The Ubuntu Look Can be Changed

spending in Japan fell for the second consecutive month in July, suggesting that manufacturers are bracing for slower demand in the months ahead.

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electric power companies and those for ships, fell 3.9 percent to 1.04 trillion yen ($9.67 billion) in July from the previous month. Led by declines in demand from chemical and oil-product makers, the figure follows a 2.6 percent decline in June and a 10.4 percent jump in May.

Full Story: Japan's core machinery orders fall in July (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

If you really want to know why I'm so pro-Linux on servers, you need only look at the London Stock Exchange's total melt down on September 8th.

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Full Story: London Stock Exchange suffers .NET Crash

Bush administration announced Sunday it was seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis.

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But private analysts worried that it may not be enough to stabilize the slumping housing market given the glut of vacant homes for sale, rising foreclosures, rising unemployment and weak consumer confidence. predicted that 30-year mortgage rates, currently averaging 6.35 percent nationwide, could dip to close to 5.5 percent. That's because investors will be more willing to buy the debt issued by Fannie and Freddie — and at lower rates — since the federal government is now explicitly standing behind that debt.

Full Story: US government takes on big role in mortgage market (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 switched from Windows or still a bit scared about the command line? You shouldn't be! The command line is a very powerful, fast and intuitive tool to get things done without clicking buttons and navigating through windows.In this article we're going over 9 must know linux terminal commands.

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Full Story: Explained: 9 useful Linux commands everyone should use!

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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's wholesale inflation remained near a 27-year high in August, the government said Wednesday, as the soaring costs of energy and raw materials continued to pressure businesses.

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The index for domestic corporate goods prices rose 7.2 percent from a year ago, the Bank of Japan said. The result was largely in line with market forecasts and fell just below a revised 7.3 percent increase in July, which marked the steepest climb since an 8.1 percent gain in January 1981. Then, as now, high oil prices drove inflation.

Full Story: Japan wholesale prices rise 7.2 percent in August (AP)

Elastic Tapes Blog, News and Updates

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

How do you take the Cell Broadband Engine™ (Cell/B.E.) processor from an off-the-shelf Sony PS3 and use it to construct a piece of Linux based laboratory equipment ? In this series, Lewin Edwards shows you how to go from game console to simple audio-bandwidth spectrum analyzer and function generator.

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Full Story: Build Linux Lab Equipment From A Sony PLAYSTATION 3

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?

Elastic Straps Blog, News and Updates

The central bank on Tuesday released the results of its most recent auction. It's part of an ongoing program started in December that seeks to ease financial turmoil and credit stresses. Those programs — along with the depressed housing market — have badly pounded the economy, forcing companies and people to clamp down.

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In the latest auction, commercial banks paid an interest rate of 2.670 percent for the 84-day loans. There were 38 bidders. The Fed received bids for $31.64 billion worth of the loans. The auction was conducted on Monday with the results made public on Tuesday. The Fed in mid-December announced it was creating an auction program that would give banks a new way to get short-term loans from the central bank and help them over the credit hump. In late July, the Fed expanded the program, making the longer 84-day loans available, besides the existing 28-day loans.

Full Story: Fed auctions another $25 billion in loans to banks (AP)

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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

Korn shell scripting is something all UNIX users should learn how to use. Shell scripting provides you with the ability to automate many tasks and can save you a great deal of time. It may seem daunting at first, but with the right instruction you can become highly skilled in it. This article will teach you to write your own Korn shells scripts.

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Full Story: Korn Shell Scripting Tutorial Done Like Never Before

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

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WASHINGTON - Borrowing by consumers slipped in July to the weakest pace in seven months, reflecting a big slowdown in demand for car loans.

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The Federal Reserve reported Monday that consumer borrowing grew at an annual rate of just 2.1 percent in July, the slowest pace since a 1.9 percent rise last December. The slowdown reflects a tiny 0.5 percent rate of growth in the category that includes auto loans, down from a 6.1 percent surge in this category in June. Automakers reported that demand for cars fell in July to the lowest level in 16 years.

Full Story: Consumer borrowing slows to weakest in 7 months (AP)

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Rural business process outsourcing is catching the fancy of many Indian biggies, with the companies eyeing it more as a business proposition rather than a corporate social responsibility.

With the telecom industry aiming to increase its rural subscribers base and the central bank asking banks and financial firms to cater to the rural sector, businesses will have to find ways of servicing customers, say analysts. Most of the rural BPOs have a seating capacity of below 100 per centre, as they are situated in remote areas. Some of the firms that are expanding reach in rural India are Aegis BPO, Comat Technologies, SerWizSol (a Tata enterprise) and GramIT of Byrraju Foundation.

Full Story: BPOs flock to rural areas to set up shop

Let's face it, the default theme on current Ubuntu releases is more aimed at the (boring) business folks: no transparency, no effects, no shiny icons and cool wallpapers. That's why I'm going to walk you through some easy steps to customize your Ubuntu Gnome - for better usability and better looks (to impress your windows buddies?).

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Full Story: Pimp your Ubuntu desktop in 7 steps! :: The Tux Geek

bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin as Americans pick a new president.

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A blizzard of pink slips propelled the jobless rate from 5.7 percent in July to 6.1 percent in August, the Labor Department reported Friday. Such a sharp increase is usually a strong recession warning, and it dashed investors' hopes for a late-year recovery. Worried about the economy and their own business prospects, employers cut payrolls by 84,000 in August, marking the eighth straight month of losses.

Full Story: Unemployment climbs to 5-year high of 6.1 percent (AP)

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As a follow-up to Michael Stutz's excellent article, this article provides 10 more good habits to adopt that will improve your UNIX command-line efficiency. Learn about common errors and how to overcome them, and discover exactly why these 10 UNIX habits are worth picking up!

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Full Story: Learn 10 More Good UNIX Usage Habits

zoomed to a five-year high of 6.1 percent August and employers slashed jobs for the eighth month in a row.

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WHAT IT MEANS: With jobs harder to find, there's growing fears that consumers will pull back on their spending, throwing the economy into a tailspin later this year. Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.

Full Story: Summary Box: Unemployment hits 5-year high (AP)

Elastic Tapes Blog, News and Updates

, a finger gesture used in yoga meditation resembling the Western sign for "A-O.K." Journey now to Bangalore. After a crawl through the city's notorious traffic and a bone-rattling ride over a cratered road that washes away with each rainfall, the four-wheel-drive van arrives at the glistening, ocean liner-shaped headquarters of Jubilant Biosys. The laboratories inside are world-class. But when equipment fails, repairs often take a week, scientist Ajith Kamath explains sheepishly. Lunch is Domino's pizza with toppings that include corn, Indian paneer cheese, and hot spices. Turns out Jubilant is co-owner of India's Domino's franchise.

At first glance, companies such as Jubilant and Piramal may seem too undeveloped - or perhaps just too culturally remote - to rub shoulders with the world's top pharmaceutical makers. But judging from all the deals taking shape in India, they may have a critical role to play in the industry's future. In recent months, Western executives have been flocking to India's hastily built science parks, looking for allies in the never-ending quest to develop blockbuster treatments. With little fanfare, they've started a process that could lead to wide-scale outsourcing of drug research to Asia.

Full Story: US outsourcing drug research to India

http://manpages.ubuntu.com - This site contains nearly 300,000 HTML viewable manpages included in Ubuntu releases (Dapper, Feisty, Gutsy, Hardy, Intrepid) and across all of (main, universe, restricted, multiverse) and across all languages where manpages are available. It is automatically updated daily.

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Full Story: Announcing the Ubuntu Manpage Repository

zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

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The Labor Department's report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy. The report rattled Wall Street again. The Dow Jones industrial average was down nearly 100 points in morning trading. All the major stock indexes tumbled into bear territory Thursday as investors lost hope of a late-year recovery. With the employment situation deteriorating, there's growing worry that consumers will recoil, throwing the economy into a tailspin later this year or early next year.

Full Story: Jobless rate jumps to 5-year high of 6.1 percent (AP)

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Sure, Windows is expected to run on 1 billion devices by 2010. But a loud minority is making its voice heard by moving to Ubuntu Linux. In fact, Canonical’s marketing materials state that Ubuntu now has more than 8 million users.

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Full Story: Canonical’s Ubuntu Linux Tops 8 Million Users

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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rose unexpectedly last week, the government said Thursday, while companies responded to the slowing economy by producing more with fewer workers.

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It was not great news for American workers, who have seen jobs decline and wages erode, but it may signal less inflation worries for the Federal Reserve . The Labor Department reported that new applications for unemployment insurance rose to a seasonally adjusted 444,000, up 15,000 from the previous week. Economists had expected claims to drop to 420,000.

Full Story: Jobless claims jump is bad omen for economy (AP)

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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

The long rumored, long awaited "Eee PC Killer" from Dell, now called the Dell Inspiron Mini 9, is now shipping! The Windows XP version, available now, costs $399. The Ubuntu Linux version, available in "a few weeks," will cost just $349! These prices are actually much lower than ASUS's for comparable systems.

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Full Story: Dell Inspiron Mini 9 Available Now: $349 With Linux

The ECB in July moved to cool inflation by increasing borrowing costs for the first time in a year to 4.25 percent for the 15 countries that use the euro.

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The Bank of England has left rates unchanged at 5 percent since April, when it reduced its benchmark figure by a quarter of a percentage point . "Upon leaving rates at 4.25 percent this Thursday, the ECB will probably refute market hopes for a rate cut in the near future," Bank of America Economist Holger Schmieding said in a research note.

Full Story: ECB, BoE expected to leave interest rates steady (AP)

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outsourcing and while vowing to end tax breaks to companies that ship works overseas conceded that all lost jobs could not be redeemed.

Promising to retain as well as create more jobs for the Americans, the Democratic nominee said while all lost jobs cannot be redeemed, further movement can be halted by giving incentives to companies investing in the country. "Not all jobs that have left are going to come back. We can stop some of them that are already leaving by stopping to give tax breaks to companies that are shipping jobs overseas and saving those tax breaks for investing in plants and equipment right here in the US," Obama said at a campaign stop in Ohio.

Full Story: Obama promises to retain and create jobs

What has happened is a clear evolution of a community that has grown up and produced intelligent, cutting-edge technologies with an eye on making computing faster, smarter and cheaper for corporate users. Companies like Openmoko are challenging the mobile device market with its notion that users should control what applications are installed.

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Full Story: Ten Open Source Companies to Watch

WASHINGTON - The government says orders to U.S. factories rose by a larger-than-expected amount in July as demand for commercial aircraft, heavy machinery and iron and steel all posted solid gains.

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The Commerce Department reported Wednesday that new orders increased by 1.3 percent in July, much stronger than the 0.8 percent increase economists had been expecting. The July advance follows an even bigger 2.1 percent increase in June and represents the fifth straight rise. Manufacturers have been seeing a sharp slowdown in the U.S. economy offset by strong gains in foreign demand, helped by a weaker dollar which makes their products more competitive overseas.

Full Story: Factory orders see wide gains led by aircraft (AP)

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The GNU Project was launched in 1984 to develop a complete Unix-like operating system which is free software: the GNU system.GNU's kernel wasn't finished, so GNU is used with the kernel Linux.

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Full Story: Mr. Stephen Fry introduces you to free software (Video)

WASHINGTON - Construction spending took a bigger-than-expected tumble in July as housing activity dropped to the lowest level in seven years and nonresidential activity fell for the first time in seven months.

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The Commerce Department reported Tuesday that construction spending declined 0.6 percent in July, double the 0.3 percent decrease analysts had been expecting. Housing activity fell for a 16th consecutive month, declining 2.3 percent to a seasonally adjusted annual rate of $357.8 billion. That was the lowest level since March 2001 , the start of the last recession.

Full Story: Construction spending fell 0.6 percent in July (AP)

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The Aspire One comes preinstalled with Linpus Linux, which in turn is based on Fedora Core 8...

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Full Story: Acer Aspire One Review

Even as 110 mph winds raked refineries that line the coast and rushed over the deep-water rigs off the shores of Texas and Louisiana, the price for a barrel of oil plummeted by more than $4 a barrel amid a broad sell-off in European and Asian markets.

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The storm's impact on production platforms, drilling rigs and other equipment will not likely be fully known for another day or so. Assuming no damage, it typically takes two to four days to restart a refinery, depending on its size. It can take a day or two to get offshore oil and natural-gas production going again. In 2005, hurricanes Katrina and Rita knocked out the region's offshore energy infrastructure for several weeks.

Full Story: Gustav loses stranglehold on energy prices (AP)

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VIA has just released a open source Xorg driver for their integrated graphics chips on their linux.via.com.tw portal.

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Full Story: VIA releases open source Xorg driver

, utilities along the Gulf of Mexico were buffeted by 110 mph plus winds from Gustav with customer outages topping 500,000 and growing.

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Burns said about 500,000 of Entergy's 1.2 million customers in Louisiana have lost power, and the number continues to grow. Cleco Corp ., which has 273,000 customers in the state, said the number of customers without power was at 50,000 and growing.

Full Story: Hundreds of thousands lose power in the Gulf (AP)

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Gone are the days when the only source of Linux distribution was the web.

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Full Story: 6 Places to Buy Pre-installed Linux Computers

H ere's a thought - when it comes to investing in the normal course, investors are willing to spend time, evaluate various options and meticulously plan the entire process. But when it comes to tax-planning, handling it in a rushed manner towards the end of the financial year is an acceptable proposition.

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While investing can be a sporadic activity, tax-planning is an annual exercise and hence can have far greater implications on one's finances. Finally, when investments are made in designated avenues for the purpose of tax-planning, they deliver dual benefits i.e. reduce the tax liability and generate optimum returns. Despite the obvious benefits that tax-planning offers, the apathy displayed by some investors towards it is rather surprising. Perhaps these investors continue to look at tax-planning as just another annual obligation that must be fulfilled. As a result, they haven't fully understood the benefits that the tax-planning exercise can deliver.

Full Story: Is tax-planning on your 'to do' list?

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WASHINGTON - U.S. home prices fell 4.8 percent in the second quarter compared with a year ago, a new record low, according to a government report.

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The government index for the April-June period, released Tuesday by the Office of Federal Housing Enterprise Oversight focuses on less expensive properties and includes fewer houses bought with risky home loans that have gone sour over the past year. The previous record annual drop in the index's 17-year history was 3 percent and was set from January through march of this year.

Full Story: Gov't home price index posts largest-ever drop (AP)

Elastic Tapes Blog, News and Updates

Microsoft are poised to launch a new $USD 300 million advertising campaign this week, starring comedian Jerry Seinfeld among others. The marketing types responsible are intending to counter Apple’s successful "I’m a Mac" line, but the slogan picked out is simply on the wrong foot from the start and is thwarted by Linux immediately.

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Full Story: It’s a joke:Who needs Windows in a Linux world without walls