Sunday, August 4, 2013

Cat tongues vacuum, enjoys it (video) (Americablog)

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I Want Is Something Beautiful. Do You Want ... - Mom Knows It All.

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I have loved music for a very long time. I recall as a teenager I?d spend hours in my room, listening to music. Sometimes it was fun. Sometimes it was relaxing. Sometimes it was a way to escape. I?ve mentioned before, I was picked on in school. I was different. I was much younger then my classmates, which meant I looked and acted differently. I don?t know why it bothered them that I was younger. In retrospect I guess they felt threatened by someone that had equal or higher intelligence but was years younger. I know now it wasn?t my problem, it was theirs. But I didn?t know that then. The fact that I wasn?t liked or accepted really bothered me.

Anyway. I was brutally picked on as a teen. Not physically, but verbally, mentally and emotionally. Because of that, I hated school. I had no friends there. I didn?t have many friends outside of school, because all the kids that went to school together hung out together. I had a few friends but other then that it was just me. In my spare time I?d read or listen to music, two things I love to do to this day. Early on I?d learn the words to my favorite songs, as kids do. But I didn?t really hear what the words were saying. As time went by I realized that those lyrics had meanings. I started paying attention to lyrics. I found there were many bad song lyrics put to good music. There were also many good lyrics with bad music. The very best songs were, and are still, a fusion of both good lyrics and good music. Sadly, there?s more bad music then there is good music, even today.

If you?ve read Mom Knows It All before you may recall me mentioning the band Oleander. If you follow me on Twitter then you know I support the band. That?s because I love their music, I have for years. They make good music. Actually they make great music, but that?s not the point. They?re also just nice. Well, this post isn?t about them. But it is about their song Something Beautiful, to a point. Their current single Something Beautiful is an awesome song. It?s about as close to musical perfection as you can get, along with the rest of the album. Every song on that album has great music and lyrics. But Something Beautiful is the one that means a lot to me, because of the meaning I find in the lyrics. Before I share the meaning I find in those lyrics, let me share the lyrics.

Tell me what hurts the most,
Where you feel it in your bones.
Is this how you pictured yourself?
Do you feel like a ghost?
Half alive and so unknown?
Is this how you run from yourself?

And the undertow rushes in,
Pulls you out, pulls you in.
Spinning you all around,
Spinning you upside down.
And you don?t know which way is up,
And will this ever be enough
To make you whole, to fill your soul,
When all you want is

Something beautiful
That they can?t take away,
That no one can ever touch,
And nothing can replace.
Something beautiful
That you can call your own.
When the world shows its ugly side
All you want is something beautiful.
Something beautiful.

Can you touch the way you feel,
Or does it only fade to gray?
Is this how you cripple yourself?
And when the sky is caving in,
Crashing down from within,
Is this how you, you lose yourself?

Because you don?t know which way is up,
And will this ever be enough
To make you whole, to fill your soul,
When all we want is

Something beautiful
That they can?t take away,
That no one can ever touch,
And nothing can replace.
Something beautiful
That you can call your own.
When the world shows its ugly side
All you want is something beautiful.
Something beautiful.

Some things will never, will never, will never change
Some things will never, will never, will never change
Will never change
Unless you believe in
Something beautiful
Something beautiful
When all you want is

Something beautiful
That they can?t take away,
That no one can ever touch,
And nothing can replace.
Something beautiful
That you can call your own.
When the world shows its ugly side
All you want is something beautiful.
Something beautiful.

Well. Besides it?s musical splendor, on a personal level the song Something Beautiful has come to mean a lot to me. This song represents what I believe in and what I want out of life and society. I am terrified to die. Not out of fear of dying, but out of the fear of not knowing what will happen to my son when I?m gone. The idea of my son having to live in today?s society without me to look out for him scares the living crap out of me.

That picture up there is a picture I personally took of my son. I think he is beautiful, inside and out. Very, very soon you will read another post about that photo and this song and how recent events on Facebook relate. But for now, know that to me, Something Beautiful is for society to be a better place for my son, and for others with Down syndrome. Something Beautiful is what I stand up and advocate for on a daily basis. I hope and wish that society will someday be a place where people aren?t judged by their looks, or their abilities or lack there of. My son is shunned and given funny looks because he looks different than most children. He tries to talk to them and they avoid him. I hope and wish that someday people won?t label others based on anything other then who they are inside and how they treat each other.?I dream of a society where parents teach their children it?s ok to be different, and to give everyone a chance. I dream of a society that offers a safe and accepting environment for all. I dream of a society where people don?t throw around a word like retard or retarded for every situation they don?t like because they are too lazy to look in a dictionary for an appropriate word. If society ever gets to the point where it?s anything like what I envision and fight for, it will surely be Something Beautiful.

Not a single day goes by that I don?t listen to this song. Not a single one. There have been a few occasions where I just put it on repeat and blast it, and somehow that, along with a hug and kiss from my son, helps make things a little better.

I leave you with the acoustic version of Something Beautiful, with the permission of the band Oleander.

Is there ?Something Beautiful? that you dream of? If so I?d love it if you left a comment sharing what your Something Beautiful is.

If you happen to be interested, the album Something Beautiful is available on the Oleander website and iTunes. I make no money if you purchase it, I just share it because I think it?s a million kinds of awesome. If you are interested, you can keep up with the band on the ?Oleander Facebook page . If you?re on Twitter, follow @OleanderBand on Twitter, they love hearing from people, tell them I sent you. ;-)

A big thank you to Oleander, for graciously giving me permission to use this song in my post.

Source: http://www.valmg.com/index.php/2013/all-i-want-is-something-beautiful-do-you-want-something-beautiful-too/

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Saturday, August 3, 2013

Spartanburg Community College showcases new downtown campus

Published: Friday, August 2, 2013 at 3:54 p.m.
Last Modified: Friday, August 2, 2013 at 3:54 p.m.

SCC President Henry C. Giles Jr. walked a small group through the halls of the three-story Evans Academic Center, which will house SCC, Spartanburg High School's Viking Early College and the offices of S.C. Works Upstate.

The building, which dates to the early 1920s, has been under renovations for most of the last year, with nearly $19.4 million of work being down to restore some of the building's historic features and update other parts into state-of-the-art classrooms.

As workers painted, carried furniture and installed door fixtures and lights, Giles spoke of the restoration efforts. He said officials thought it was important to restore the building, constructed in 1921 for $300,000, to its former grandeur because of the role it has played in Spartanburg education.

The downtown campus was the original site of a wooden high school, built in 1897. It was replaced by the current building, which was Frank Evans High School from 1922 to 1933, Spartanburg High School from 1933 to 1959, and Evans Junior High School from 1959 to 1978, when it was sold to the county and used as office space.

The schools' graduates have paid particular interest in the renovations, Giles said, and efforts have been made to restore the entrances to how they would have looked decades ago.

?We would like their first thoughts when they come into this lobby to be ?This is my school,'? Giles said while standing inside the East Kennedy Street entrance.

The college also will have a ?Wall of History? that will show the building's legacy, while other features, such as the 515-seat auditorium and a gymnasium, have been restored to how they once looked. The auditorium has led to interest in the school eventually having theatre courses, Giles said, and while the school has no plans for the gymnasium, it could be used by nearby Meeting Street Academy or other groups.

He also said some have talked about the school starting a basketball team.

?That's not in our immediate plans, but who knows,? Giles said.

Giles showed off some of the building's original features, including crown molding and ornate brickwork, as well as dogwood blossoms and buds outside the Dean Street entrance.

?In today's dollars, we wouldn't be able to afford it,? he said of the building's construction.

Other small touches will be found throughout the building, Giles said. For example, the school's original master clock will return to where the principal's office once was, even though that space will now be part of the campus library.

?This is the way it looked,? said Joseph Lauer, a project manager and representative for the SCC Foundation, of the restoration efforts. ?It's come back to life.?

The campus will include offices, classrooms, laboratories, a bookstore and multiple study rooms and conference rooms, officials said.

?We don't have space like this on our main campus,? Giles said.

The classrooms, however, will be a far cry from the rooms the building housed in the mid-20th century, Giles said.

Each is equipped with state-of-the-art technology.

?This will equal or exceed any classroom we have on our central campus, and I think it would equal or exceed any classroom on any campus,? Giles said.

The 107,000-square-foot building was purchased by SCC in 2011 in return for $3.34 million and ownership of the Dent Building on Fairforest Road.

The campus not only will allow SCC to expand, but will allow it to reach an underserved population near the city center, Giles said, while expanding partnerships with Spartanburg High School and S.C. Works Upstate.

Terry Pruitt, deputy superintendent of Spartanburg School District 7, said the Viking Early College would be the first of its kind in the Upstate, a male-only program that will prepare students for college while allowing them to earn both their high school diplomas and an associate's degrees.

The program will start with a class of 20 ninth-grade students and add a class each year.

?It is significant that this was Spartanburg High School,? Pruitt said of the building's history. ?It's like we're coming home.?

Rochelle Brown of S.C. Works Upstate said the new space would replace the current facility at 110 Commerce St. She said the new space will allow for the expansion of programs, twice the space for computers for job-seekers and more job fairs.

It also will help create a closer relationship with SCC.

?The space and the opportunities here are really giving us a chance to do new and unique things,? Brown said.

Source: http://www.goupstate.com/article/20130802/articles/130809921

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Experts Services From Painting Contractor Wayne PA - Tools and ...

Experts Services From Painting Contractor Wayne PA

2 views This article is copyright free and is published in Tools and Equipment ? Home Improvement Joined: Jun 05, 2012

5193 articles

Everybody wants that there house should look beautiful and attractive. We do many things to maintain our house; so that wear and tear does happen in every home. When we renovate our homes we want to paint our home beautifully from both the sides interior as well as exterior of the house to give it a stunning look. Painting Contractor in Wayne PA provides painting job for both residential and commercial buildings. They are experts who assist the customers with any questions and even provide free estimate of the cost for painting your home or office.

Specialize in Exceptional Service

They offer a wide variety of services with wide collection of paint selections. Their main motto is to provide the client with honest and affordable services. They can even remodel any business place. The company?s mission is to complete their work within the given time and give attention to the requirement of customers. Their team of workers set a period to finish their work on time.

Customer satisfaction

They provide the customers to choose the best paints and colors for their job and provide high level craftsmanship. They have skilled, trained contractors and experts who know how to complete the work on time and satisfy the customers. They are professional in their field of work and keep open communication with the owner and also arrive on time and complete the required job on time.

Professional Painting Services

The staff members do not create any mess in the house or offices. The company and their professional, skilled workers are punctual, friendly and provide quality craftsmanship. They are family owned and have years of experience to deal with the customer and satisfy their requirements. There professionals do take care of home protection during painting. Their contractors are insured. They offer reasonable price for their services and do advice the client and assist them when they need.

Quality services

The company offers a wide range of brands and painting products. They help the customer to choose the right brand. Painting Contractor Wayne PA is dedicated in providing the highest quality paints, brushes and other equipment needed for work. They make sure to use all the latest and upcoming colors, texture and equipment. They can also do Power washing, tiling and many other services. They make sure to finish the work till the deadline date. They paint interior wall, baseboards and also commercial building and many more. They provide hi-quality paints and let the customer choose from various brands.

About author: William Klein

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Why is Microsoft alienating its biggest customers? IT pros want TechNet back

Anthony Bolante

Pictured is Microsoft's corporate campus in Redmond, Washington on May 2, 2012.

You?d be forgiven if you missed the announcement on July 1 that Microsoft was ending its TechNet subscription program for IT professionals.

In fact, you?d be forgiven if you didn?t know what TechNet was. Few outside the information technology field do.

But the decision could impact tens of thousands of Microsoft?s best customers: enterprise and small-shop IT professionals worldwide at a time when companies are looking at a growing number of cloud-based IT alternatives.

First, some background: The TechNet program was introduced 15 years ago as a way for IT professionals to run tests of their systems on new Microsoft software before rolling out the update to the entire company. Basically, for a small yearly fee of a couple hundred dollars, Microsoft gave subscribers product keys (licenses) for practically all its server and desktop software to run test labs.

The software used to arrive every year in big packets of CDs; these days, it's primarily downloads.

This was a hugely popular program for IT managers who didn?t want to pay big bucks for access to each application.

Technically, TechNet licenses were only for evaluation purposes. IT departments were not supposed to use the licenses to actually run their systems using those licenses, but there was nothing in the software to prevent to them from doing just that.

Which brings us to another issue with the TechNet system: piracy. Microsoft has struggled with the issue of software piracy for years. Several times over the past few years, the company cut back the number of TechNet product keys it made available to subscribers in an attempt to stop subscribers from selling the keys illegally.

Emily Parkhurst covers the technology industry for the Puget Sound Business Journal/TechFlash.

Source: http://feedproxy.google.com/~r/TechFlash/~3/wX7o573MHOc/why-is-microsoft-alienating-its.html

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Friday, August 2, 2013

Iran's new president calls Israel an 'old wound'

TEHRAN, Iran?Iran's new president has called Israel an "old wound" that should be removed in comments published just two days ahead of his inauguration.

Hasan Rouhani's remarks about Israel?his country's archenemy?echo those of other Iranian leaders.

Iran's semi-official ISNA news agency says Rouhani spoke after taking part in an annual pro-Palestine rally in Tehran on Friday.

The report quoted Rouhani as saying: "The Zionist regime has been a wound on the body of the Islamic world for years and the wound should be removed."

Rouhani won a landslide victory in Iran's June 14 presidential election. He replaces Mahmoud Ahmadinejad on Sunday.

Rouhani has pledged to follow a "path of moderation" and promised greater openness over Iran's nuclear program, which has placed it at odds with the West.

Source: http://www.denverpost.com/nationworld/ci_23781793/irans-new-president-calls-israel-an-old-wound?source=rss

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U.S. House passes Iran sanctions bill to slash oil exports

WASHINGTON | Thu Aug 1, 2013 9:54am BST

WASHINGTON (Reuters) - The House of Representatives easily passed a bill on Wednesday to tighten sanctions on Iran, showing a strong message to Tehran over its disputed nuclear program days before President-elect Hassan Rouhani is sworn in.

The vote also highlighted a growing divide between Congress and the Obama administration on Iran policy ahead of international talks on the nuclear program in coming months. Iran insists the nuclear program is purely for civilian purposes.

The bill, which passed 400 to 20, would cut Iran's oil exports by another 1 million barrels per day over a year to near zero, in an attempt to reduce the flow of funds to the nuclear program. It is the first sanctions bill to put a number on exactly how much Iran's oil exports would be cut.

The legislation provides for heavy penalties for buyers who do not find alternative supplies, limits Iran's access to funds in overseas accounts and penalizes countries trading with Iran in other industrial sectors.

Existing U.S. and EU measures have already reduced Iran's oil exports by more than half from pre-sanction levels of about 2.2 million barrels per day (bpd), costing Tehran billions of dollars in lost revenue a month.

Most of the OPEC member's exports head to Asia, where the United States has worked with Iran's top four customers China, India, Japan and South Korea to push them towards alternative suppliers. The four have cut purchases from Iran by more than a fifth in the first half of this year, over and above the reductions made last year.

CHINA

The success of any toughening of the sanctions will depend on China, Iran's top customer, which has repeatedly said it opposes unilateral sanctions outside the purview of the United Nations, such as those imposed by the United States.

The country reduced oil purchases from the Middle Eastern nation by 21 percent last year, but that was partly on account of differences in the first quarter over the renewal terms of annual contracts and shipping delays.

Chinese officials have said refiners are likely to cut shipments 5-10 percent this year from last. They cut imports 2 percent in the first six months of the year.

"I don't think the Chinese government will give in to this kind of pressure," said an official with a Chinese refinery that processes Iranian crude. "There is no chance that Iranian supplies would come to a halt."

For now, relatively steady oil prices have allowed the efforts to continue, but analysts say further sanctions risk pushing up prices and damaging the economies of U.S. allies.

"This is almost like an embargo on Iranian oil imports. It is like giving Iran an ultimatum," a Seoul-based refining source said, after the vote. "I think we can find alternatives but we prefer Iranian crude as the economics are better. If very little Iranian crude is available, overall oil prices would rise."

The bill still has to be passed in the Senate and signed by President Barack Obama before becoming law. The Senate Banking Committee is expected to introduce a similar measure in September, though it is uncertain whether the language to cut exports by 1 million barrels a day will survive.

Critics of the bill said it shows an aggressive signal to Iran that last month voted in Rouhani, a cleric many see as more moderate. He will be sworn in on Sunday.

NO HIGHER PRIORITY

Rep. Ed Royce, a California Republican and Chairman of the House Foreign Affairs Committee who introduced the bill with Rep. Eliot Engel, a New York Democrat, said the United States has no higher national security priority than preventing a nuclear-armed Iran.

Royce said the Supreme Leader Ayatollah Ali Khamenei's drive to develop a nuclear arsenal was evident. "New president or not, I am convinced that Iran's Supreme Leader intends to continue on this path," he said.

The vote showed a growing disagreement between the White House and Congress on Iran policy. A senior administration official said on Wednesday the White House is not opposed to new sanctions in principle, but wants to give Rouhani a chance.

The Treasury Department last week partially eased sanctions on Iran by expanding a list of medical devices that can be exported there without special permission.

One of the 20 lawmakers to vote against the bill, Jim McDermott, a Washington-state Democrat, said shortly before the vote that the rush to sanction Iran before Rouhani takes office could hurt efforts to deflate the nuclear issue.

"It's a dangerous sign to send and it limits our ability to find a diplomatic solution to nuclear arms in Iran," McDermott said.

A supporter of harsher sanctions disagreed.

Ayatollah Ali Khamenei "doesn't see our flexibility and good faith efforts as a sign of good intentions, he sees it as a sign of weakness," said Mark Dubowitz, the head of Foundation of Defense of Democracies, an advocate of sanctions.

"If anything, it's only going to be massively intensified sanctions that get him to blink."

But Trita Parsi, the president of the National Iranian American council, said the House action undermines the U.S. strategy which has long been one of good cop - bad cop.

The White House has taken a softer stance toward Iran's nuclear program and Congress has taken a tougher one. But now there are signs that the good cop cannot control the bad cop, he said.

"The impression on the Iranian side is not that it's good cop bad cop, but complete chaos and mayhem," Parsi said.

'TOO MUCH'

The bill also further denies Iran's government access to foreign currency reserves, and targets Iranian efforts to circumvent international sanctions against its shipping business.

"I think it's too much. Asian countries don't have much oil resources and they need to import a lot from the Middle East," said a trader with a North Asian buyer of Iranian crude. "If the United States keeps pushing further, it would be a big burden for Asian refineries."

While the bill has more steps to clear before becoming law, other buyers, apart from China, have already begun voicing their inability to reduce dependence on Iranian oil much further.

"Cuts in our imports from Iran have been the maximum as compared to other Asian countries," an Indian industry executive said. "At this moment there is no scope for further reduction."

India cut its Iranian oil imports by 43 percent over the first half of the year. That's more than the 27 percent cut by South Korea and 22.5 percent by Japan.

Turkey would also struggle to cut its crude oil imports from Iran any further, a Turkish official said.

(Additional reporting by Warren Strobel, Meeyoung Cho in Seoul, Florence Tan and Manash Goswami in Singapore, Nidhi Verma in New Delhi, Orhan Coskun and Humeyra Pamuk in Ankara; Editing by Philip Barbara, Ron Popeski and Tom Hogue)

Source: http://feeds.reuters.com/~r/Reuters/UKTopNews/~3/5Vg0t_3RjLE/story01.htm

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Protesters to Congress: Get moving on immigration

WASHINGTON (AP) -- Forty-one pro-immigrant activists were arrested outside the Capitol Thursday after blocking traffic while pushing for passage of comprehensive immigration legislation.

Among the activists were leaders from a range of immigration groups and unions including the United Farm Workers and AFL-CIO.

After marching by the Capitol, the activists joined hands and sat down on Independence Avenue, a major street that runs through the congressional complex, displaying a banner demanding "Immigration Reform Now!"

Police officers handcuffed them and led them away. Capitol Police said in a statement that the activists were being processed on charges of blocking passage.

The march came as Congress prepares to leave Washington for a five-week summer recess without House action on immigration legislation. Advocates promised that Thursday's action was a taste of things to come as they aim to keep up the pressure throughout August on the House's GOP majority.

"When you want policymakers to see the light, sometimes you've got to raise the heat, and that's what we're doing today," said Frank Sharry, executive director of America's Voice, who was among those arrested.

Several Democratic lawmakers joined the marchers but did not participate in the civil disobedience. Rep. Raul Grijalva, D-Ariz., promised: "What is happening today is going to be repeated around the country."

Numerous chants and signs displayed by protesters sought to direct political pressure at the House GOP. "GOP, do you want our vote?" asked one banner. "Republicans, remember, we're voting in November," protesters chanted.

Immigration legislation is in limbo in the House after the Democratic-controlled Senate passed a far-reaching bill in June that included billions for border security, new workplace enforcement requirements, a revamped legal immigration system and a path to citizenship for the estimated 11 million immigrants living in the country illegally.

Many House Republicans are opposed to granting citizenship to people who crossed the border illegally or overstayed their visas to be in this country. GOP leaders have rejected the Senate-passed bill and said that the House will proceed with narrow, single-issue bills, starting with border security.

But that process may not begin until October, and it's uncertain whether the House will ever get to the point of entering negotiations with the Senate on final legislation that could get to President Barack Obama's desk.

Advocates believe the August recess could be critical in marshaling public opinion in favor of an immigration overhaul, and various groups on the side of reform ? from business to labor to evangelicals ? are making plans to reach dozens of House Republicans in their home districts. Those opposed also intend to make their voices heard, although their coalition is smaller.

Source: http://news.yahoo.com/protesters-congress-moving-immigration-182814093.html

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Thursday, August 1, 2013

Enormous 33 pound mushroom found in China

By The Christian Science Monitor
Wednesday, July 31, 2013 7:17 EDT

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Source: http://feedproxy.google.com/~r/TheRawStory/~3/L_3kOpnMs4I/

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Trade Fight Over Solar Benefits a Bystander

[unable to retrieve full-text content]A U.S. tariff ruling against China created a loophole that has benefited Taiwanese manufacturers.
    

Source: http://www.nytimes.com/2013/07/31/business/global/solar-trade-dispute-leaves-taiwan-the-clear-winner.html?partner=rss&emc=rss

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Insight: For nuns and analysts alike, bank commodity earnings are a mystery

By Cezary Podkul

NEW YORK (Reuters) - When the Reverend Seamus Finn got an email from Goldman Sachs last week, the giant Wall Street bank was addressing an issue that was already on his mind.

"We were getting ready to go back to them and talk to them about commodities anyway," said Finn, who heads up faith-consistent investing for the Missionary Oblates, a Washington DC-based Catholic group that owns Goldman shares.

Driven by a determination to invest in a socially conscious way, Finn's group has been concerned about banks' commodities activities since 2008, when a spike in energy and agricultural products caused food riots in Africa. The issue is whether banks' trading activities artificially drive up food prices.

The pre-emptive message from Goldman, sent ahead of last week's Senate hearing on banks' commodity activities, asserted that the firm's investments in physical assets such as aluminum warehouses do not drive up prices. But it left unanswered many of Finn's questions about what the bank is doing in the sector.

(Goldman moved on Wednesday to address criticism of its Metro International metals business, announcing it would offer customers immediate access to stored aluminum.

The statement sent to Finn and later released widely did not address one of his broader concerns: that no one outside the banks themselves knows for sure how big their commodity trading arms are, how much they trade, or how much money they make.

"We would like more disclosure on that," Finn said.

He is unlikely to get his wish. While the country's largest banks are required to disclose their activities in some consumer-facing businesses such as mortgages, there is no similar requirement for them to do so on the commodities side.

Commodity "revenue" figures reported to securities and banking regulators can differ wildly - and may not provide an accurate reflection of the size of the business.

Most banks report some numbers, but one of the biggest - Morgan Stanley - hasn't put a dollar figure on its commodities revenues in more than a decade, reporting only the year-on-year percentage change in its securities filings. None provide cost, salary or bonus figures, making it impossible to guess at relative profitability.

"I don't think you have any banks that are properly disclosing commodities revenue," said George Kuznetsov, head of research and analytics at Coalition, a British consulting firm that employs more than 100 researchers to scrutinize public disclosures and conduct interviews to estimate trading revenues for investment banks.

The issue is becoming increasingly important as politicians press the banks for more insight into the risks they are taking by owning metals warehouses or chartering oil tankers, and as some seek buyers for their physical commodities holdings. On Friday, JPMorgan said it was selling out.

"Their physical commodities activities are not comprehensively or understandably reported...they're often buried in arcane regulatory filings," Senator Sherrod Brown, Democrat for Ohio, said at last week's hearing.

AS INSTRUCTED

The lack of clarity over trading operations has long been a vexing issue across other desks as well, such as foreign exchange and equities. But the current debate over whether banks should be allowed to continue trading so actively in raw material markets has only sharpened focus on this area.

In sum, it's big money: the top ten global banks collectively made about $6 billion trading commodities last year, down 24 percent from in 2011, according to Coalition.

The banks say that they are providing regulators and investors with all the information they are required to give.

"Our disclosures are in line with all relevant reporting requirements and provide investors with all material information," said a spokesman for Morgan Stanley. He said the bank provides data on the main drivers of results across its three core business lines but does not break down earnings to a "product" level like commodities.

Critics say the disclosures still leave much to be desired.

"They really don't tell us much," said Robert McCullough, an energy economist who spent six years litigating an electricity market manipulation case against Morgan Stanley.

"If you wanted an estimate of what their position was in electricity in 2001, six years of litigation was not sufficient to get it," he said.

In terms of financial system risks, the Federal Reserve, which regulates banks, has the power to make on-staff visits and request data sets from the banks on their commodities activities. The agency also keeps on-site staff at the banks who are dedicated to monitoring commodities.

But that is not enough, according to some former examiners.

"There's a sophistication gap between the regulator and the bank that they regulate," said Mark Williams, a former Federal Reserve bank examiner and energy executive who now teaches finance at Boston University.

"The commodities are where the more sophisticated transactions take place," he said.

Y-9C? BECAUSE THEY HAVE TO

One bank filing collected by the Fed is called "FR Y-9C." The detailed questionnaire requires banks to tell the Federal Reserve everything from how much money they spend on postage to how much money they make trading commodities.

But because regulatory accounting rules may vary from the way banks report their earnings to investors, the Fed's questionnaire can often bear little resemblance to banks' Securities and Exchange Commission filings.

Goldman Sachs, for instance, reported only $100 million in "commodity and other" trading revenues to the Fed in 2012. In a separate filing with the SEC, the bank said it made $575 million trading commodities. Industry sources actually pegged Goldman's commodity revenues closer to $1.25 billion for the year.

Asked about the different figures, a spokesman for Goldman Sachs said: "We disclose figures in the way we are required. That may not correspond to the way we actually measure the performance of certain trading businesses." He declined to provide a figure for the bank's commodity trading revenues.

JPMorgan Chase and Citigroup Inc provide similar commodity trading figures to the Fed and the SEC. But like Goldman, both banks warn investors in their SEC filings that the figures don't fully represent their performance because they exclude earnings on interest, an "integral" part of trading revenue.

JPMorgan reported nearly $2.4 billion in commodities trading revenues for 2012, which on paper was more than Goldman and Morgan Stanley combined. But several analysts say actual revenues are likely closer to this year's $1.5 billion target.

Spokesmen for JPMorgan and Citi declined comment.

With so much uncertainty around the headline numbers, attempting to separate banks' paper bets on commodities from physical trading - the segment most at risk from regulators - is all but impossible. Analysts at Deutsche Bank estimated in a report last week that JPMorgan's physical book accounted for somewhere between a third and two-thirds of its overall commodities trading operation.

Some other banks have taken the view that their commodity businesses are too small to merit much attention.

At Deutsche Bank and Barclays Bank, commodities revenues may show up in an occasional earnings transcript or investor presentation, but neither bank discloses in filings how much money it makes trading in the sector. In its 2012 annual report, Deutsche Bank simply notes commodities "revenues were lower" compared to 2011. Barclays makes no mention of the segment's performance in its annual report.

Spokespeople for Deutsche and Barclays declined to comment.

ANALYSTS VS. NUNS

The lack of detail on banks' commodity trading revenues does not seem to worry some on Wall Street. It's just one part of a mosaic of items analysts look at in evaluating the firms.

"It's just not been a significant issue for me," said David Hilder, who covers banks for brokerage Drexel Hamilton.

And some experts say even the limited disclosure by banks is better than the alternative. Many of the big global commodity traders, such as Vitol and Trafigura, are privately held and therefore subject to no disclosure at all.

"The (trading) activity will not go away," said Randall Guynn, a banking lawyer at Davis Polk, who testified at last week's hearing. "You're better off having it in regulated companies where there is some disclosure."

That hasn't stopped some influential groups from calling on banks to step up their reporting.

Last year, the CFA Institute - which confers the Chartered Financial Analyst credential to investment professionals worldwide - endorsed a report calling for banks to improve their risk disclosures to investors. Banks' trading books, in particular, remain "very opaque" to investors, said Vincent Papa, the institute's director of financial reporting policy.

"In many cases, they give you a figure which they deem to be meaningless from an internal management standpoint," Papa said. "They just give it for compliance reasons. That's not beneficial to investors. It's about giving relevant information, rather than just ticking the boxes."

For some of the banks' investors, commodity trading data is very relevant indeed. The Interfaith Center on Corporate Responsibility (ICCR) represents $100 billion worth of institutional investors like Finn, the DC reverend. The group openly calls for corporations to avoid speculating on food commodities.

But with disclosures being so lacking, ICCR members like Sister Nora Nash of the Sisters of St. Francis of Philadelphia have little idea whether their investments in big banks like Goldman Sachs comply with this philosophy.

"I would absolutely hope that they would disclose what is happening to those of us who are shareholders," Nash said.

(Additional reporting by Douwe Miedema in Washington D.C.; Editing by Claudia Parsons)

Source: http://news.yahoo.com/insight-nuns-analysts-alike-bank-commodity-earnings-mystery-050444040.html

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Samsung announces Galaxy S4 and Galaxy S4 Mini dual LTE network support

KOREAN PHONE MAKER Samsung has announced that it will launch dual-mode time division duplex (TDD-LTE) and frequency division duplex (FDD-LTE) LTE versions of its Galaxy S4 and Galaxy S4 Mini smartphones.

Samsung's popular Galaxy S4 handsets, like models from its competitors, have to deal with a multitude of LTE modes and frequencies. Now the firm has said that it will release Galaxy S4 and Galaxy S4 Mini handsets that support TDD-LTE and FDD-LTE and promise seamless handover of voice and data between the two types of networks.

According to Samsung, TDD-LTE will increase in popularity in the coming years and the firm said that its handsets will have the ability to switch between the widely deployed FDD-LTE networks and the emerging TDD-LTE networks. The firm added that mobile operators will be keen to make use of both networks to balance loads between FDD-LTE and TDD-LTE networks. This could mean that if enough smartphones have the ability to switch between the networks that might gain popularity with mobile operators as a way of saving cash on infrastructure.

Samsung co-CEO and president of its IT and Mobile division JK Shin said, "Samsung continues to accelearate global LTE market deployment, addressing technical challenges faster than anyone else. With today's TDD/FDD LTE seamless handover devices announcement, Samsung again demonstrates the company's commitment to driving better, more convenient customer experiences.

"The first commercially available TDD/FDD [LTE] seamless handover devices will allow customers to fully enjoy the benefits of fast mobile data communications no matter where they are."

While Samsung is pushing ahead with devices that are capable of future LTE deployments, Ofcom only finalised its plans to reuse 2G and 3G spectrum for 4G earlier this month. However the announcement highlights Samsung's ability to produce updated versions of its existing phones with bleeding edge features, unlike most of its rivals. ?

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Tuesday, July 30, 2013

Omnicom, Publicis to combine into biggest ad firm

PARIS (AP) ? Omnicom Group Inc. and Publicis Groupe SA say they are combining in a "merger of equals" that will create the world's largest advertising firm, one worth more than $35 billion.

The combined company will be called Publicis Omnicom Group and be jointly led by Omnicom CEO John Wren and Publicis CEO Maurice Levy as co-chief executives. The move is designed to bolster the companies' focus on growing Asian and Latin American markets such as China and Brazil, where they each have ramped up operations to counter lackluster growth in weak European markets.

But although a combined firm will allow for more pricing power in general, the decrease in competition could present regulatory hurdles in the U.S. and Europe. Client conflicts also could be an issue, as rivals such as Coca-Cola Co., PepsiCo, McDonald's, Yum Brands' Taco Bell, Johnson & Johnson and Procter & Gamble now find themselves under the same umbrella.

Rich Tullo, an analyst at Albert Fried & Co. in New York, predicted pushback from regulators in both the U.S. and France. The U.S. could be wary of one company controlling such a large portion of the market, he said, while in France, authorities might not take warmly to any Americanization of a company that is a bright spot in the bruised French economy.

Tullo also questioned whether the combined company could live up to promises like the $500 million in cost savings touted with the announcement, given Europe's shaky financial condition. "That sounds like financial alchemy, if you ask me," he said.

Omnicom Group Inc., based in New York, owns BBDO Worldwide, DDB Worldwide Communications Group and TBWA Worldwide, among other agencies. Paris-based Publicis Groupe SA runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi and DigitasLBi. Their merger creates a company with combined annual revenue of about $23 billion, leapfrogging them over current London-based industry leader WPP PLC.

For the first year, Omnicom Chairman Bruce Crawford will serve as non-executive chairman of the new company. He will be succeeded by Elisabeth Badinter, the current Publicis Groupe chairwoman, and daughter of its founder, for the second year.

Levy is slated to take the non-executive chairman's seat after 30 months, leaving Wren to continue as sole CEO from that point.

Omnicom, which also owns public relations firms such as Fleishman-Hillard, Porter Novelli and Ketchum, reported 2012 profit of nearly $1 billion on revenue of $14.22 billion. Earlier this month, the Madison Avenue giant posted second-quarter earnings that topped analysts' average forecast, though revenue growth of 2 percent fell just short of expectations.

Founded in 1986, Omnicom generates just over half of its revenue from U.S. clients, and about one-quarter from European and British markets combined. The company's stock has risen 31 percent in the last 12 months, recently peaking at $67.43 on the New York Stock Exchange.

Omnicom will benefit from Publicis' strategic shift in the last few years toward digital operations, as the French company beefed up its digital marketing profile with the acquisitions of Digitas, Razorfish, Rosetta, Big Fuel and LBi. Publicis, which had revenue of $8.78 billion in 2012, had targeted generating 75 percent of its revenue in digital and fast-growing countries by 2018, according to a recent investor presentation.

The move gives Publicis, which has faced questions about who will succeed 71-year-old Levy, access to Omnicom's well-regarded senior leadership, said James Dix, an analyst at Wedbush Securities.

Analysts said the deal also represents even more consolidation in an industry that is already dominated by just a few players, a fact that might not sit well with U.S. regulators.

If the Omnicom-Publicis combination goes through, the combined company would account for nearly 40 percent of the U.S. ad industry, twice as much as the nearest competitor, WPP, according to Brian Wieser, an analyst at Pivotal Research Group in New York.

Wieser said Sunday the deal came as a surprise to many in the industry. Omnicom, he said, has "always been viewed as too large to get any larger."

The combined company will have more than 130,000 employees.

One concern is whether Omnicom and Publicis can strike a harmonious balance of power ? something that can be difficult in mergers of similar-sized companies.

"It's not clear yet who really is in the driver's seat," Wieser said. "That will emerge over time."

The fact that the two firms are based in different countries could also become an issue, Dix said. "You have these fiefdoms that keep people from playing together. One company is based in Paris, one is in New York. Where is the power center?" he said in an interview Saturday.

Dix expects that top executives are comfortable with the structure of the deal, but the adjustment may be more difficult for the next level of executives who run the firms' units.

"Now they have to fit together into a broader organization," Dix said. "If you lose clients or have defections of senior executives then you have something that looked good on paper but didn't quite play out."

The combination has been approved by the boards of both companies, but remains subject to regulatory approval in both the U.S. and Europe, and to a vote by shareholders of both companies. The deal is structured so that the shareholders of Publicis Groupe and Omnicom, after special dividends, will each hold approximately 50 percent of the company.

Publicis Groupe shareholders will receive one new share of Publicis Omnicom Group for each Publicis Groupe share they own, together with a special dividend of 1 euro per share. Omnicom shareholders will receive 0.813 new shares of Publicis Omnicom Group for each Omnicom share they own, plus a special dividend of $2 per share. The new company intends to be listed in Paris and on the New York Stock Exchange.

The combination could have a domino effect on the industry, spurring marriages between other ad giants who might fear they can't compete otherwise, said Michael Corty, an analyst at Chicago-based Morningstar. "Within the ad agency industry, this is potentially an earthquake deal."

___

Business News reporters Christina Rexrode and Jon Fahey contributed from New York.

Source: http://news.yahoo.com/omnicom-publicis-combine-biggest-ad-firm-220845588.html

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Monday, July 29, 2013

Apple-supplier Pegatron violates China workers' rights: China Labor Watch

BEIJING | Mon Jul 29, 2013 3:21am EDT

BEIJING (Reuters) - Pegatron Corp, a Taiwanese company that makes Apple Inc products, is violating workers' rights at its Chinese factories in Shanghai and Suzhou, New York-based rights group China Labor Watch said in a report on Monday.

Pegatron, which assembles iPads and iPhones at its China factories, is forcing employees to work unpaid overtime in poor working and living conditions, among other violations of Chinese regulations, China Labor Watch said.

"The Pegatron factories are violating a great number of international and Chinese laws and standards as well as the standards of Apple's own social responsibility code of conduct," it said in the report.

Pegatron said in a statement that it would investigate the matter and would take immediate action to correct any violations of Chinese labor laws and its own code of conduct.

"We strive to make each day at Pegatron better than the last for our employees. They are the heart of our business. That's why we take these allegations very seriously," Pegatron's CEO Jason Cheng said in the statement.

Apple, responding to China Labor Watch's latest report, said it had conducted 15 audits at Pegatron facilities since 2007 that covered more than 130,000 workers to ensure safe and fair working conditions throughout its supply chain.

It has been in touch with China Labor Watch for several months and has fixed some issues raised by the organization, Apple said.

"Their latest report contains claims that are new to us and we will investigate them immediately," Apple said. "If our audits find that workers have been underpaid or denied compensation for any time they've worked, we will require that Pegatron reimburse them in full."

New York-based China Labor Watch said it sent undercover investigators into three Pegatron factories and conducted nearly 200 interviews with workers outside the factories from March to July.

Pegatron's factories in China now employ more than 70,000 workers after it stepped up production of Apple's products as part of the U.S. technology giant's plans to diversify its contract manufacturing partners.

Taiwan's Foxconn Technology Group, which has also been criticized by labor groups for poor working conditions, now makes most of Apple's top products through its flagship unit, Hon Hai Precision Industry Co Ltd.

(Additional reporting by Poornima Gupta in San Francisco and Lee Chyen Yee in Singapore; Editing by Matt Driskill)

Source: http://www.reuters.com/article/2013/07/29/us-apple-pegatron-labour-idUSBRE96S07T20130729?feedType=RSS&feedName=businessNews

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Sunday, July 28, 2013

3 dead when bus carrying teens from church camp crashes on busy thoroughfare in Indianapolis

INDIANAPOLIS - The Indianapolis Fire Department says three people were killed when a bus carrying teens from a church camp crashed on a busy thoroughfare near Interstate 465.

The bus was carrying 40 passengers who are members of Colonial Hill Baptist Church and were returning from camp when the crash happened Saturday afternoon.

Indianapolis Fire Department spokesman Lt. Rita Burris confirms the deaths and says survivors were being taken to area hospitals. Those injured include children and adults.

Some of the victims were taken from the scene by helicopter.

An Indiana Department of Transportation camera showed the bus overturned on its side.

Roads near the scene were closed, and hazmat crews were in the area cleaning up diesel fuel that spilled.

Source: http://news.yahoo.com/3-dead-bus-carrying-teens-church-camp-crashes-214252223.html

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WWD On:

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China moves to sustainable growth: Goldman CEO Blankfein

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Source: http://media.drive.com.au/business/businessday/china-moves-to-sustainable-growth-goldman-ceo-blankfein-4608812.html

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Saturday, July 27, 2013

South Africa's answer to Chavez?

By GrabNetworks

A radical new political party wants South Africa's mines nationalised and white-owned land distributed. But will Julius Malema's inflammatory brand of left-wing populism topple the ANC? Kirsty Basset reports.

Related Keywords:

Source:GrabNetworks (c). All Rights Reserved

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Obama says Korean veterans 'deserve better'

President Barack Obama speaks on occasion of the 60th anniversary of the end of the Korean War at a commemorative ceremony near the Korean War Veterans Memorial on the National Mall in Washington Saturday, July 27, 2013. Obama on Saturday appealed to Americans to pause "in our hurried lives" and let these veterans "carry us back to the days of their youth and let us be awed by their shining deeds. Listen closely and hear their story of a generation." (AP Photo/Jacquelyn Martin)

President Barack Obama speaks on occasion of the 60th anniversary of the end of the Korean War at a commemorative ceremony near the Korean War Veterans Memorial on the National Mall in Washington Saturday, July 27, 2013. Obama on Saturday appealed to Americans to pause "in our hurried lives" and let these veterans "carry us back to the days of their youth and let us be awed by their shining deeds. Listen closely and hear their story of a generation." (AP Photo/Jacquelyn Martin)

President Barack Obama, left, participates in a wreath laying ceremony on the 60th anniversary of the end of the Korean War during at a commemorative ceremony at the Korean War Veterans Memorial on the National Mall in Washington, on Saturday, July 27, 2013. At far right is Defense Secretary Chuck Hagel. (AP Photo/Jacquelyn Martin)

President Barack Obama walks with Special Envoy from the Republic of Korea Kim Jung Hun, right, during a commemorative ceremony at the Korean War Veterans Memorial on the 60th anniversary of the end of the Korean War, on the National Mall in Washington, on Saturday, July 27, 2013. Seen behind at right of the President is Defense Secretary Chuck Hagel. (AP Photo/Jacquelyn Martin)

President Barack Obama speaks on the 60th anniversary of the end of the Korean War, during remarks at a commemorative ceremony near the Korean War Veterans Memorial on the National Mall in Washington, on Saturday, July 27, 2013. Obama on Saturday appealed to Americans to pause "in our hurried lives" and let these veterans "carry us back to the days of their youth and let us be awed by their shining deeds. Listen closely and hear their story of a generation." (AP Photo/Jacquelyn Martin)

President Barack Obama, center, walks with Korea's Chairman of the Joint Chiefs of Staff Gen. Jung, left, and Special Envoy from the Republic of Korea Kim Jung Hun, during a commemorative ceremony at the Korean War Veterans Memorial on the 60th anniversary of the end of the Korean War, on the National Mall in Washington, on Saturday, July 27, 2013. (AP Photo/Jacquelyn Martin)

(AP) ? President Barack Obama on Saturday urged Americans to take time from their "hurried lives" to listen to the heroic stories of Korean War veterans who returned to a country weary of war and deserved a better homecoming.

"Unlike the Second World War, Korea did not galvanize our country. These veterans did not return to parades," Obama said in a speech at the Korean War Veterans Memorial on the National Mall, making the 60th anniversary of the war's end.

"Unlike Vietnam, Korea did not tear at our country. These veterans did not return to protests. For many Americans tired of war, there was it seemed a desire to forget, to move on," Obama said.

They "deserve better," the president said, adding that on this anniversary, "perhaps the highest tribute we can offer our veterans of Korea is to do what should have been done the day you came home."

Obama appealed to Americans to pause "in our hurried lives" and let these veterans "carry us back to the days of their youth and let us be awed by their shining deeds. Listen closely and hear their story of a generation."

The 1950-1953 war involved North Korean and Chinese troops against U.S.-led United Nations and South Korean forces. It ended on July 27, 1953 ? 60 years ago Saturday ? with the signing of an armistice.

But a formal peace treaty was never signed, leaving the Korean Peninsula in a technical state of war and divided at the 38th parallel between its communist north and democratic south.

At least 2.5 million people were killed in the fighting.

"It perhaps taken longer to see clearly and full the true legacy of your service," Obama told veterans in the crowd.

"Here today, we can say with confidence, that war was no tie, Korea was a victory," with 50 million South Koreans living in freedom and "a vibrant democracy" in stark contrast to dire conditions in the North.

"That is a victory and that is your legacy," Obama said.

In a proclamation declaring Saturday as National Korean War Veterans Armistice Day, Obama said the anniversary marks the end of the war and the beginning of a long and prosperous peace.

In the six decades since the end of hostilities, Obama said, South Korea has become a close U.S. ally and one of the world's largest economies.

He said the partnership remains "a bedrock of stability" throughout the Pacific region, and gave credit to the U.S. service members who fought all those years ago and to the men and women currently stationed there.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-07-27-US-Obama-Korea/id-eca1ad05dbb64469bac9f04a52e2600d

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Thursday, July 25, 2013

Wednesday, July 24, 2013

Rising household debt in S'pore worrying: MAS

SINGAPORE: Singapore's central bank said rising household debt in the city-state is worrying, and that it is "important to act now to limit build-up of leverage".

Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said that 5 to 10 per cent "have probably over-leveraged their property purchases".

He said: "Many households could have over-extended themselves, fuelled by low interest rates and stretched loan tenures. The vast majority of mortgage loans in Singapore are on floating rate packages, which means households will face higher monthly repayments when interest rates normalise."

For example, they have total debt service payments at more than 60 per cent of their income.

Mr Menon added that if mortgage rates were to rise by 3 percentage points, the proportion of borrowers at risk could reach 10 to 15 per cent.

Speaking at a press briefing, Mr Menon also said the Singapore economy will "comfortably meet" the growth forecast of 1 to 3 per cent this year.

According to the central bank, "GDP growth should pick up over the course of the year amid an improving external environment".

Snigapore's economy grew 1.3 per cent in 2012.

The MAS said the forecast for headline inflation will be revised down to 2-3 per cent, from 3-4 per cent previously. The core inflation forecast for 2013 remains at 1.5-2.5 per cent.

Mr Menon said that this is the first time in three years that CPI inflation has come down closer to historical trends and within MAS' comfort range.

Headline inflation was elevated at 4.6 per cent last year due to higher residential property rentals and car prices, while core inflation, which excludes accommodation and private road transport, averaged 2.5 per cent in 2012.

The MAS had paid-up capital of S$25 billion as at 31 March 2013, unchanged from the end of the previous financial year, according to its annual report.

The MAS does not hand over any profits to the government during the financial year when there is no accounting profit.

The Singapore central bank made a net loss of S$10.61 billion in fiscal year 2012/13, reversing from the gain of S$2.77 billion in the previous financial year.

The MAS said its good investment returns over the year were more than offset by the strength of the Singapore dollar.

"This is an issue of reporting currency. If we had reported our profit and loss in international currency, it would show a healthy profit," said Mr Menon.

Total assets managed by Singapore-based asset managers were S$1.63 trillion as of the end of last year, 21.5 per cent percent higher year-on-year due to "strong inflows and higher market valuation".?

Source: http://www.channelnewsasia.com/news/singapore/rising-household-debt-in/752966.html

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