Pages

Sunday, October 16, 2011

Cities With The Fastest Internet Speeds

Cities With The Fastest Internet Speeds

investopedia
, On Friday 14 October 2011, 0:28 SGT

The 20th century was the age of the computer, and nothing shaped the last two decades as much as the Internet. Nearly every facet of life in advanced economies now interfaces with the web at some point each day, from cell phones and computers to transport systems and energy grids. With telegraphs a distant memory, the postal service struggling to find a way to stay relative and more of our day-to-day lives spent interacting with smart technology, it's hard to image a time in which we didn't have the Internet as part of our lives.

The McKinsey Global Institute estimates that the Internet accounted for 21% of GDP growth in developed countries over the past five years (it reviewed 13 countries), with most of the economic gains coming from outside of technology industries. Efficiencies created by a shift from traditional accounting and recording methods to ones supported by the Internet have eliminated some jobs, but estimates are that 2.6 jobs are created for every job lost in economies in which firms were modernizing.
In an age in which high-tech industries and financial firms rely on faster and faster Internet speeds to outpace the competition, countries are finding that they have a need for speed if they plan on keeping innovative firms happy. Even small and medium-sized businesses – the sort of companies that politicians talk about fostering – are becoming more and more reliant on online technologies.
While the United States captures the lion's share of Internet-based revenue and profits, other countries are seeing rapid growth rates in Internet usage. According to the International Telecommunication Union, an agency that is part of the United Nations, the United States had more than 83 million broadband Internet subscribers in 2010 (behind only China), the number of subscribers as a percentage of the overall population was below many western European countries, Canada, South Korea and Hong Kong.
A recent study by Akamai found that the top 10 countries in terms of download speeds were South Korea, Hong Kong, Japan, Netherlands, Romania, Czech Republic, Latvia, Switzerland, Belgium and Ireland. The United States ranked 14th.
Top 10 Average Connection Speeds (World)
1. Tokai, Japan
2. Shimotsuma, Japan
3. Kanagawa, Japan
4. Seocho, South Korea
5. Asahi, Japan
6. Yokohama, Japan
7. Urawa, Japan
8. Ilsan, South Korea
9. Nagano, Japan
10. Hiroshima, Japan
The first city outside Japan or South Korea to make the list was Hong Kong (29), and the first city outside of Asia was Lyse, Norway (33). The United States made its debut with Riverside, Calif. (39).
Top 10 Average Connection Speeds (United States)1. Riverside, Calif.
2. Staten Island, N.Y.
3. San Jose, Calif.
4. Fremont, Calif.
5. Boston, Mass.
6. Jersey City, N.J.
7. Marietta, Ga.
8. Anaheim, Calif.
9. Traverse City, Mich.
10. Hollywood, Fla.
Adoption of broadband Internet has increased across the world in recent years. The United States has a 77% adoption rate, far below the 90% plus of Hong Kong and many European countries.
The Bottom LineImproving Internet speed requires a long-term commitment to investment in infrastructure, enough industry competition to prompt innovation and efficiencies and pricing models that allow a broader swath of a country's population to have access. The more far-flung a country's population is, the more difficult (and expensive) it may be to wire them in. But with so much riding on integrating more people into the web, both the developed and the developing world cannot afford to sit by as rival countries modernize

(source : Yahoo)

Saturday, September 3, 2011

Major Banks in the US

17 Major Banks in the US get sued


Published: Friday, 2 Sep 2011 | 5:12 PM ET
A U.S. regulator sued a number of major banks Friday over losses on more than $41 billion in subprime mortgage bonds, which may hamper a broader government mortgage settlement with banks.
The lawsuits by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, came as a surprise to the market and weighed on bank shares.
The FHFA accused major banks, including Bank of America [BAC 7.25 -0.66 (-8.34%) ] , its Merrill Lynch unit, Barclays [BCS 10.60 -0.88 (-7.67%) ] , Citigroup [C 28.40 -1.60 (-5.33%) ] and Nomura Holdings of selling bonds backed by mortgages that should have never been packaged into securities.
The other banks are: Ally Financial (formerly GMAC), Countrywide Financial, Credit Suisse, Deutsche Bank, First Horizon National, General Electric, Goldman Sachs, HSBC North America, JPMorgan Chase, Morgan Stanley, The Royal Bank of Scotland Group and Société Générale.


THE BANKS

 
      
    
    
          

    
    
    
    
  

The litigation against banks is hurting share prices in the sector because investors feel unable to estimate the ultimate scope of a given bank's legal liabilities.
Bank of America, for example, had intended its proposed $8.5 billion settlement in June with investors in Countrywide mortgage securities to resolve most litigation tied to its disastrous 2008 takeover of that home loan provider.
American International Group is suing Bank of America for $10 billion
Other banks also face mortgage lawsuits. In May, the U.S. Justice Department sued Deutsche Bank [DB 36.27 -2.33 (-6.04%) ]
The FHFA's lawsuits follow an initial lawsuit in July against UBS [UBS 13.80 -0.55 (-3.83%) ] seeking to recover $900 million of losses incurred on $4.5 billion of debt.

Copyright 2011 Thomson Reuters.

Sunday, July 31, 2011

From Japan Past Experiences to US Rerating Impact

What would United States lose its "AAA" credit rating mean for investors?

Japanese Flag
Photo: Bryan Jones

In a bid to understand the ramifications of such a cut, Barry Knapp, the head of U.S. equity strategy at Barclays Capital, has researched back as far as 1998 in order to look at the effect that Moody’s downgrade of Japanese debt had on that nation following the collapse of Long Term Capital Management (LTCM).


Knapp said using the Japanese example to understand the possibilities for the U.S. are “fraught with peril,” but his observations still make for interesting reading.

“Macroeconomic fundamentals were the major drivers of asset prices, rather than the ratings downgrade,” said Knapp in a research note on Wednesday.

1.....“At first blush, we were struck by the massive underperformance of JGBs (Japanese Government Bonds) relative to German Bunds and sharp steepening of the 2-year and 10-year JGB yield curve, which implied that the downgrade did have a significant impact on longer-term yields,” Knapp said.

While yields rose, so did the Nikkei and yen, according to Knapp, who noted that a rebound in Japanese industrial production began in 1998 that dragged Japan out of recession by early 1999.

As a result, the move in Japanese bonds was in Knapp’s opinion due to Fed easing following LTCM’s collapse and Japan’s emergence from recession.

“The initial reaction for Japanese equities in the two weeks following the downgrade was positive, underscoring how other factors were driving the markets. However, within a couple of weeks, equities were struggling, again, likely because it was becoming clear that the first round of bank recapitalizations (in early 1998) were insufficient, setting the stage for a second round (in early 1999),” he said.

Banking stocks weighed on the Nikkei until the recovery took hold and the second round of bank recapitalizations had occurred.

“Once the recession ended and the second round of bank recapitalizations occurred, the yen was right back to where it started before the downgrade,” Knapp said.

With the S&P refusing to take fright at the debt talks in Washington and trading in a range between 1250 and 1350 Knapp has been fielding a lot of questions about why the U.S. equity market has remained so resilient.

“Our answer is that earnings season is off to a good start. We do not think this will last, but not because of the political risks. Instead, we expect the macroeconomic fundamentals to again become the primary driver of stocks, bonds, and the dollar, perhaps as soon as the GDP report, followed by Friday’s July employment report,” said Knapp

“Our expectation on the debt negotiations is a compromise solution that avoids default but not a downgrade. So, if Congress falls short of $4 trillion and S&P sticks to its words, after a brief muted market reaction, the direction of the markets will be highly leveraged to the data with expectations of a second-half rebound in economic activity hanging in the balance.”

(source : CNBC)

Wednesday, July 13, 2011

China Second-Quarter GDP Rises 9.5% From Year Ago

Published: Tuesday, 12 Jul 2011 | 10:02 PM ET


By: Reuters

China's annual gross domestic product growth eased to 9.5 in the second quarter of 2011 from 9.7 percent in the previous quarter, the National Bureau of Statistics said on Wednesday.
But the growth rate was stronger than market expectations of 9.4 percent.
AP
Shanghai Skyline


China's GDP in April-June was up 2.2 percent from the first quarter of 2011 on a seasonally adjusted basis, the statistics agency added. It marked a deceleration from the 2.1 percent recorded in the first quarter of this year.
Industrial output rose 15.1 percent in June from a year earlier.

(Source CNBC)

Sunday, May 22, 2011

World's Largest Nuclear Power Plants

Biggest Nuclear Plants

Nearly two months after Japan's nuclear crisis began, the head of Tokyo Electric Power (TEPCO) has finally stepped down and the company posted a $15 billion loss for the year. New details have also emerged, showing three of the reactors at the Fukushima plant likely suffered partial meltdowns.
The disaster in Japan has major implications for the U.S., the world’s largest producer of nuclear energy, especially since the crippled Fukushima plant shares the same design as other plants in the U.S.
In the East, China is on the verge of becoming a major player in the nuclear field with about 27 plants currently under construction. In all, there are 442 nuclear power stations in the world and 16 countries currently have 65 plants under construction.
The world’s largest nuclear stations by output capacity. The rankings are based on the International Atomic Energy Agency's (IAEA) data on megawatts per hour (MWh) produced by active nuclear reactors in 2010.

10. Fukushima Daiichi 4,696 MWh (Okuma, Japan)

Located 170 miles north of Tokyo, Fukushima Daiichi was the world’s 10th largest nuclear station before Japan’s catastrophic earthquake and tsunami.
The plant started operations in 1971 and has six nuclear reactors, which were badly damaged on March 11. Tepco had planned two more reactors at the site, but the company now plans to abandon these and scrap the site entirely, once a safe shutdown has been achieved.
Most of the reactors are old boiling water reactors (BWR) based on a GE design. Even before the latest disaster, TEPCO had been criticized for failing to meet emergency standards at the plant. In February, Tepco admitted to the Japanese nuclear safety agency that it had submitted false inspection and safety reports.

9. Oi 4,710 MWh (Fukui prefecture, Japan)

The Oi nuclear power plant in Fukui prefecture, southwest of Tokyo, is owned by Kansai Electric Power Company (KEPCO), which is one of Japan’s largest utilities.
The plant houses four nuclear reactors that each generate over 1,000 megawatts of power per hour.
KEPCO has come under fire in the past for incidents at its nuclear plants. In 2004, five employees were killed at its Mihama nuclear plant from a burst of steam, which was blamed on neglected safety checks. In 2006, two employees were also injured in a plant fire.

8. Bruce 5,090 MWh (Inverhuron & Tiverton, Canada)

Bruce Power Generating Station is the largest nuclear plant in North America.
The station takes up 2,300 acres near Lake Huron in Ontario. It has eight nuclear reactors, but only six are operational. The company is on track to restart the other two reactors by 2012, adding another 1,500 megawatts of power to the station.
Once all eight are operational, the station will become the world’s second largest nuclear plant by capacity.

7. Cattenom 5,448 MWh (Cattenom, France)

Cattenom nuclear power plant is located in the Lorraine region of France near the border with Germany. The station is owned by Electricite de France (EDF), which is Europe’s biggest power generator and the world’s second biggest utility company.
In April, about 2,000 people protested outside the site along with thousands across the country over the dangers of nuclear power.
France is one of the largest consumers of nuclear power, with 75 percent of its electricity coming from the source. After Japan’s nuclear disaster, French President Nicolas Sarkozy reaffirmed the country’s commitment to nuclear energy saying “France has made a choice.”

6. Paluel 5,528 MWh (Normandy, France)

Situated in the north of France, along the Normandy shore, the Paluel nuclear station is the second largest of its kind in France with four reactors that generate over 1,300 megawatts of power each hour.
Paluel gets its cooling water from the English Channel and is one of four nuclear plants in France that gets its cooling water from the sea. The rest of the country's nuclear stations are located away from the coast and get their cooling water from rivers.
About 11 of the 15 inland plants have evaporative cooling towers to lessen the need for fresh water. But during dry spells and heat waves, problems have occurred with power generation being restricted to peak periods.

5. Gravelines 5,706 MWh (Gravelines, France)

Located in Nord, France near the famous towns of Calais and Dunkirk, the Gravelines plant uses water from the English Channel for cooling. The six reactors came online between 1980 and 1984 and the plant recently completed quite a milestone: it generated its 1000 billionth kilowatt hour of energy.
Local fish farmers use the water that carries waste heat from the plant to help raise European sea bass and other fish. The warm water helps the fish grow faster.

4. Zaporizhzhia 6,000 MWh (Enerhodar, Ukraine)

The Zaporizhzhia power station is Europe’s largest nuclear power plant. Located in central Ukraine on the Dnieper river, the plant has six generators that produce 50 percent of the country’s nuclear energy.
In 2011, Ukraine marked the 25 th anniversary of Chernobyl, the world’s worst nuclear disaster. The nuclear plant explosion reportedly released about 400 times more radiation than the atomic bomb dropped over Hiroshima during World War II.
Ukraine has agreed to give up stockpiles of highly-enriched uranium, left over from the breakup of the Soviet Union by 2012. The materials amount to the third-largest nuclear arsenal in the world.

3. Yonggwang 6,137 MWh (Yonggwang, South Korea)

The Yonggwang nuclear station, located in southwestern Jeollanam do province, has six nuclear reactors that each produce over 900 megawatts of power.
The plant, which began operation in 1978, was closely monitored by safety inspectors in late March after radioactive iodine was found in areas, including the country’s capital Seoul.
But reports suggest that the particles may have come from Japan’s Fukushima power plant instead.
South Korea has 21 commercial nuclear power plants, and is the world’s sixth largest nuclear power producer.

2. Uljin 6,157 MWh (Gyeongsangbuk-do province, South Korea)

Surrounded with walls to protect it against 10-meter tsunamis, the Uljin nuclear power plant is located in the Gyeongsangbuk-do province on the east coast of South Korea.
The plant’s six nuclear reactors have been built to withstand 6.5 magnitude earthquakes, and new reactors are being designed to withstand up to magnitude 7 tremors.
South Korea wants to nearly double its generation of electricity from nuclear energy by 2030, but faces opposition from lawmakers and residents, especially after Japan’s nuclear disaster.
In an attempt to ease fears, the government announced plans to spend $922 million over five years on safety upgrades.

1. Kashiwazaki-Kariwa 8,212 MWh (Niigata prefecture, Japan)

Situated in the towns of Kashiwazaki and Kariwa, the world’s largest nuclear power plant by capacity has seven nuclear reactors. The station is about 220 km northwest of Toyko, in the Niigata Prefecture. The site along the coast of the Sea of Japan covers 4.2 square-kilometers.
The plant, owned by Tepco, was built in 1985, but didn’t start commercial operation of all seven reactors until 1997.
In 2007, the plant was shut down after radioactive leaks were discovered in the sea following a 6.8 magnitude earthquake.
At the time, Tepco faced heavy criticism for failing to quickly extinguish an electric transformer fire, and for delays in alerting authorities about malfunctions at the plant
source CNBC