NEW YORK: The dollar edged higher Tuesday against the euro after Ben Bernanke confirmed the US Fed's stimulus program would continue, while the yen traded flat ahead of the nomination of a new Bank of Japan chief.
At 2200 GMT the euro was at $1.3061, compared to $1.3065 late Monday. The euro remained under pressure after Italy's inconclusive election, which some fear could lead to more political trouble and policy stalemate in the country.
"Political uncertainty has increased in Italy following the election results weighing upon the euro and risk assets," said Lee Hardman, currency analyst at the Bank of Tokyo-Mitsubishi UFJ in London.
In Washington, Federal Reserve Chairman Bernanke quelled speculation of an early end to quantitative easing when he told a Senate panel that the Fed's stimulus program was having an impact and was still needed.
He said inflation remained subdued and the Fed was keeping its eye on any potentially risky behavior in the market due to low-interest rates.
The Fed policy board "remains confident that it has the tools necessary to tighten monetary policy when the time comes to do so," he added.
The yen was barely changed against the dollar at 91.93, and the euro was at 120.08 yen compared to 120.12 yen late Monday.
Markets were waiting for confirmation of who would be named to head the bank of Japan, after newspapers reported Monday that Asian Development Bank chief Haruhiko Kuroda, an advocate of a lower yen, would be named.
The British pound fell further, to $1.5126 from $1.5166 late Monday. The dollar was little changed on the Swiss franc, at 0.9315 francs.
Yes, Fujitsu really made a cane with integrated GPS.
(Credit: Sarah Tew/CNET)
Though most of the big players chose Sunday or Monday to make news and drop their newest devices, Day 2 of Mobile World Congress didn't slow down in the least.
Mobile operating systems have long been a popular theme at the word's biggest wireless trade show and the 2013 confab is no exception. Sunday brought us the announcement of the new Firefox mobile OS and today the Tizen Association entered the game, as well. The group showed its new operating system at a press conference that closed the day. CNET's Luke Westaway and Rich Trenholm got their hands on an early device so check out their First Take and photo gallery for a short tour. As Roger Cheng wrote yesterday, Japan's NTT Docomo will the first carrier to sell a Tizen smartphone and Samsung will be the first carrier to make such a device this summer.
Tizen OS gets early walkthrough in hands-on video
Checking back with the Firefox OS, Andrew Hoyle and Stephen Shankland took a test drive with the Geeksphone Keon. That's the fourth Firefox handset we've handled in Barcelona, Spain after the ZTE Open, the Geeksphone Peak, and the Alcatel One Touch Fire (LG and Huawei sneaked in a couple of Firefox models, as well). The Keon is a lot like the One Touch Fire, actually. Both have 3.5-inch displays and they're wrapped in a bright "Firefox orange" casing. This new family of smartphones is winning a lot of attention, though CNET's Brian Bennett thinks that it's one mobile OS too many.
Day 2 is a great time to prowl the show floor in search of unique and noteworthy handsets that we may have not seen before. That's just what Aloysius Low did with the NEC Medias W N-05E. With two full-sized screens it reminds me of the YotaPhone and the Kyocera Echo. Aloysius doesn't see a bright feature for the Medias, but it is worth seeing for yourself.
Full Mobile World Congress coverage form CNET
The Fujitsu F-02E is a powerful Android phone that has an exquisite screen, a quad-core 1.7GHz processor, a 16.3-megapixel camera, a fingerprint scanner, and a water- and dust-resistant shell. And speaking of phones that can take a beating, check out Jessica Dolcourt's encounter with the Cat B15. Bearing the name of the same company that makes industrial forklifts, tractors, and mining equipment, you'd expect the B15 to durable. In fact, Cat says that it can operate in temperatures from -20 to 55 degrees Celsius (-4 to 131 degrees Fahrenheit) and can withstand up to 6-foot drops (1.8 meters).
Go ahead, throw the Cat B15 against the wall.
(Credit: Jessica Dolcourt/CNET)
Fujitsu also brought the Stylistic S01, which is aimed at seniors. The feature set for the Ice Cream Sandwich device hits a bit lower than most Android phones, but it has access to all of the Google's apps that you'd expect. Sweden's Doro showed the PhoneEasy 622. Launching in Europe, the 622 has a flip design that's smaller than what we've seen from the company before, and it's the first Doro to feature video recording. >
Hands-on with Qualcomm's Wi-Fi coffee machine
Of course, Mobile World Congress isn't just about phones. Indeed, CNET's team on the ground also spied a Samsung home theater hub for getting content from your Android device to your TV, a quirky power plug adapter that controls your gadgets when you're away, nano-SIM cards made from paper for going green, a GPS-enabled cane (yes, you read that correctly), LG's LG WCP-300 wireless charger, and a coffee machine with Wi-Fi (get me to the store!).
So that's the best of Day 2. Mobile World Congress continues through Thursday so expect a lot more coverage from CNET. You can catch it all here.
Matthew Wiltse, right, places a wedding ring on the finger of Jonathon Bashford as they took their wedding vows before Superior Court Judge Chris Wickham at the Thurston County Courthouse just after midnight on Sunday, Dec. 9, 2012, in Olympia, Wash. /AP Photo/Rachel La Corte
More than 80 "conservative voices" have signed onto a legal brief supporting the notion that same-sex couples should have a fundamental right to marriage.
The brief is in support of the plaintiffs in the Hollingsworth v. Perry case now before the Supreme Court, which challenges California's Proposition 8 barring same-sex marriage. The case, which will be argued starting in late March, could result in the invalidation of statewide bans on same-sex marriage across the country. It is one of two same-sex marriage cases being considered this term by the Supreme Court; the other challenges the Defense of Marriage Act, which bars federal recognition of same-sex marriage.
Among the signatories to the letter are former Republican Governors Christie Todd Whitman and Bill Weld; Rep. Ileana Ros-Lehtinen, R-Fla.; former Republican Reps. Deborah Pryce and Mary Bono Mack; 2012 presidential candidates and former governors Gary Johnson and Jon Huntsman; and former Republican National Committee chair Ken Mehlman, the onetime George W. Bush campaign manager who has since come out as gay.
Notably not among the signatories are some Republicans who have expressed support for same-sex marriage in the past, including Dick Cheney and Laura Bush.
The American Foundation for Equal Rights, which organized the effort, said more names will be added before the brief is filed. The brief was first reported by the New York Times, which reported that it made the case that same-sex marriage reflects conservative values of "limited government and maximizing individual freedom."
Among those working to legalize same-sex marriage are conservative lawyer and former Solicitor General Theodore B. Olson, who was among the first prominent conservatives to express support for same-sex marriage. Same-sex marriage supporters hope the fact that numerous well-known conservatives and Republicans are signatories to the brief will help sway conservative justices.
"The conservative movement toward the freedom to marry is what we like to call the 'Ted Olson effect,'" said AFER executive director Adam Umhoefer. "We value the support of our conservative colleagues and welcome their voices to the growing majority of Americans who stand for marriage equality."
CBS News polling has found that a majority of Americans believe same-sex marriage should be legal, though more than six in ten said it should be left to the states to decide. House Speaker John Boehner and most Republicans in Congress oppose both federal recognition of same-sex marriage and a mandate that it be recognized by the states.
House Speaker John Boehner used some choice words to pressure Senate Democrats to avert the looming sequester — $85 billion of arbitrary across-the-board cuts — insisting that “the House has done its job” and the burden to offer an alternative before the cuts strike Friday is on the president’s party.
“We have moved the bill in the House twice,” Boehner, R-Ohio, said. “We should not have to move a third bill before the Senate gets off their ass and begins to do something.”
House Republicans voted twice during the 112th Congress to narrowly pass legislation to offset sequestration with alternative savings, but those measures languished in the Senate and expired with the end of the session.
Read More About Sequestration
Boehner also criticized President Obama for taking a Virginia road trip “to use our military men and women as a prop in yet another campaign rally to support his tax hikes.”
J. Scott Applewhite/AP Photo
“I don’t think the president’s focused on trying to find a solution to the sequester,” he said. “For 16 months, the president’s been traveling all over the country holding rallies, instead of sitting down with Senate leaders in order to try to forge an agreement over there in order to move the bill.”
Considering Republicans have not acted in the current session of Congress on any legislation to replace the sequester, House Democrats question whether there is sufficient support to pass the old GOP proposal.
“I don’t think I need to give the Speaker a lesson in legislating or how government runs, but whatever was done last year that didn’t get signed into law has evaporated. It is gone. It does not exist,” California Democratic Rep. Xavier Becerra, the chairman of the House Democratic Caucus, said today. “This is a new year, a new session of Congress and it’s time for everyone to get to work.”
Boehner deflected a question whether he believes his weakened majority could pass the Republican bill again, and returned his attention to pushing for a vote in the Senate.
“It’s time for the Senate to act. It’s not about the House,” he responded. “We’ve acted.”
Related: Sequester Timeline – When Will Cuts Kick In?
“Where’s the president’s plan to avoid the sequester? Have you seen one? I haven’t seen one. All I’ve heard is that he wants to raise taxes again. Where’s the president’s plan? Where’s the Senate Democrat plan? I want to see it.”
Senate leaders are expected to introduce and vote on their respective plans later this week, perhaps by Thursday.
Senate Majority Leader Harry Reid accused Congressional Republicans of being “part of the problem” in finding a solution to the upcoming cuts, pressing for new tax increases to help offset the sequester.
“We want to work with Republicans to come to a balanced responsible way to reduce this sequester, the impact of it. My republican colleagues are standing in the way,” Reid, D-Nev., said on the Senate floor. “They only want cuts and more cuts.”
Related: States Prepare for Sequester
Although Senate Minority Leader Mitch McConnell has said he is not interested in a last-minute deal, Boehner said “If the Senate acts, I’m sure the House will act quickly.”
The House is meeting for legislation business today, although no action to avert the sequester is expected. The House also meets Wednesday and Thursday, but is currently not expected to be in session on Friday.
ABC News’ Arlette Saenz contributed to this report
NEW YORK: The strong election showing in Italy of former premier Silvio Berlusconi's party battered the euro Monday, amid worries a new coalition government could weaken Rome's commitment to reforms.
The euro rose in early trade amid the first exit polls from the two-day election, which suggested the center-left was on its way to a firm victory.
But later, data showed Berlusconi's party, and another rightist party, were neck-and-neck with rivals in the Senate race, suggesting it could end up part of a fractious coalition that could roll back Italy's deficit-cutting efforts.
At 2200 GMT, the euro was at $1.3065, down from $1.3189, after having risen to $1.3316 early in the day as European markets read the early poll results as keeping Berlusconi out of power.
Beyond Italy's election results, "the single currency remains poised to face additional headwinds over the near-term as the fundamental developments coming out of Europe point to a deepening recession," said David Song of DailyFX.
But commitment to the dollar was hanging on the testimony to Congress on Tuesday by Federal Reserve Chairman Ben Bernanke, with hopes he will clarify the Fed's direction amid some clear differences among policy-makers over how long to keep in place policies aimed at holding interest rates down.
Reports that the pro-stimulus Haruhiko Kuroda, currently head of the Asian Development Bank, would be nominated as Bank of Japan governor weakened the Japanese currency in early trade, with the dollar buying more than 94 yen.
But without official backup for those reports, the yen snapped back, the dollar dropping to 91.92 yen.
The euro also fell, to 120.12 yen from 123.18 late Friday.
"Mr. Kuroda's appointment would no doubt turn the BOJ policy to a much more accommodative stance," said Boris Schlossberg of BK Asset management.
"But the rally quickly fizzled... as there was no official confirmation from the government and traders took quick profits on the run-up."
The British pound held steady near where it dropped following Friday's sovereign downgrade by Moody's, which stripped London of its coveted AAA rating.
That sent the pound down to $1.5131, and on Monday it slipped beneath the $1.51 line before pulling back to trade at $1.5162 at 2200 GMT.
The dollar meanwhile rose to 0.9318 Swiss francs, compared to 0.9290 francs on Friday.
The Myo armband uses your muscles for gesture control.
(Credit: Thalmic Labs)
From "Minority Report" to the Kinect, we've been on a tech quest for touchless gesture control that frees us from the shackles of mice and old-style controllers. We want to get in on the action and use movement to command our digital devices.
Myo from Thalmic Labs takes that gesture-control desire and builds it into an armband you wear on your forearm.
The Myo is available for pre-order. (Click to enlarge.)
(Credit: Myo)
The Myo uses a combination of motion sensors and muscle activity sensors to track gestures. When you snap your fingers, wave your hand, or point your finger, it translates that movement into a gesture based on the muscles used. An ARM processor and rechargeable batteries power the armband, which communicates with devices using Bluetooth low energy.
The Myo team suggests using the armband to "unleash your inner Jedi," an enormously appealing idea. It could potentially be used to not only control your computer, but also to fly quadrocopters, interface with iOS and Android, and play video games. The potential is limited only by what developers can create.
The armband will work from the get-go with Mac and PC computers, enabling control of popular activities like Web browsing, media content, and watching videos. I, for one, am eager to see the gaming abilities showcased.
The Myo can be preordered for $149 and is expected to ship in late 2013. Its success may well depend on the number of applications it will work with.
Details on the device are still pretty thin, but a promotional video shows the direction Thalmic Labs is taking. What do you think? Is this a more appealing technology than existing options like the camera-based Kinect?
LUBBOCK, Texas Blizzard conditions again descended on the midsection of the country Monday, bringing hurricane-force winds to the Texas Panhandle, closing highways in Texas and Oklahoma and putting already snow-covered parts of Kansas on high alert as the day progressed.
National Weather Service officials issued blizzard warnings and watches in Kansas and Oklahoma through late Monday. As the storm tracks north and east across West Texas toward Oklahoma, Arkansas, Kansas, and Missouri.
12 Photos
February snowstorms blanket U.S.
A strong low pressure system is feeding the wintry beast, Greg Carbin, a meteorologist at the Storm Prediction Center in Norman, Okla., said.
"The more intense the low, the stronger the storm as far as pulling air in," he said. "That's what gives us the high winds."
But because not all of the region's temperatures were below freezing, heavy rain and thunderstorms pelted eastern Oklahoma and Texas. Six counties in Arkansas and all parishes in Louisiana are under a tornado watch until 8 p.m. CST.
"March is the time we see intense winter storms in the Plains," Carbin said.
National Weather Service meteorologist Victor Murphy said the system is moving east at 25 mph.
Parts of Colorado and New Mexico were left to dig out from the storm after it passed through Sunday. Up to 10 inches fell in parts of New Mexico, and the foothills west of Denver saw up to two feet of snow.
The moisture should help improve Denver athletic fields, which have been temporarily closed to protect the drought-damaged grass. It allowed the U.S. Forest Service to burn brush in northern Colorado to try to prevent future wildfires.
Colorado isn't the only state in the storm's way thirsting for moisture.
"Is it a drought buster? Absolutely not," Murphy said. "Will it bring short-term improvement? Yes." Climatologists say 12 inches of snow is equivalent to about 1 inch of rain, depending on the density of the snow.
In the Texas Panhandle, wind gusts up to 65 mph and heavy snow had made all roads impassable and created whiteout conditions, Paul Braun, a spokesman for the Texas Department of Transportation, said. The airport in Amarillo, Texas, has recorded hurricane-force gusts of 75 mph. And state troopers are unable to respond to calls for assistance.
"It's just a good day to stay home," Braun said. "This is one of the worst ones we've had for a while."
Texas rancher Jay O'Brien warned the storm could be deadly for grazing cattle, including some calves born in recent days. The wind will push animals into a fenced corner where they could suffocate from the drifts.
"This type of snow is a cattle killer," he said, noting that feedlot cattle can lose up to 40 pounds in a storm of this severity. The size of the nation's cattle herd is already at its lowest since 1952.
Amarillo could set a record for daily snowfall, Murphy said. The NWS in Amarillo said Monday afternoon the city had received about 16.9 inches. The daily record is 19.3 inches set in March 1934.
Oklahoma also was under a blizzard warning, and officials warned that travel would be especially dangerous through Tuesday morning in the Panhandle and counties along the Kansas border. Forecasters said up to 16 inches of snow could accumulate in some areas, with wind gusts reaching up to 55 mph.
According to CBS affiliate KWTV, Oklahoma Lt. Gov. Todd Lamb declared a state of emergency for 56 Oklahoma counties due to the excessive snow. The Oklahoma Highway Patrol closed all highways in the state's Panhandle, citing slick roads and limited visibility.
Parts of Kansas are bracing for anywhere from 8 to 24 inches of snow, including the city of Wichita, where residents had barely recovered from last week's storm that dumped up to 18 inches.
Stephanie Happy, a stay-at-home mom, was putting bananas and salad fixings into her grocery cart Monday as the first flakes of snow began to fall in Belle Plaine, about 30 miles south of Wichita. Her two children, ages 16 and 14, were both home from school since classes were cancelled.
"It can be fun," she said.
In a pre-emptive move, Kansas City, Mo., Mayor Sly James declared a state of emergency. The metropolitan area saw about 10 inches of snow last week, and an extra foot or more is forecast to fall starting Monday evening.
Back in Amarillo, truck driver Oscar Weubles had been at the Petro Truck Stop off a snowy Interstate 40 in Amarillo since 4 a.m. Monday. The parking lot for 18-wheelers was full.
Weubles, hauling dry grocery products from Missouri to California, said he's driven in bad weather before and wasn't fazed by Monday's conditions in Amarillo, which had closed I-40.
"I've been stranded in Laramie, Wyo., for three days," he said. "This ain't nothing."
ROME – Pope Benedict XVI decided to keep secret the contents of an investigative report on the “Vatileaks” scandal, ruling that the only person who will get to see it will be the next pope.
The top secret dossier details the findings of an internal investigation the pope launched last April into the so-called Vatileaks affair, in which Benedict’s former butler leaked confidential documents stolen from the papal chambers.
Italian newspapers have claimed — without attribution — that the investigation revealed a sex and blackmail scandal inside the curia.
The Vatican spokesman today underscored that the contents of the dossier are known only to the pope and his investigators, three elderly prelates whom the Italian papers have nicknamed “the 007 cardinals.”
Pope Benedict met today with Cardinals Julian Herranz of Spain, Jozef Tomko of Slovakia, and Salvatore De Giorgi of Sicily in a private audience.
According to the Vatican, the pope thanked them for their work and expressed satisfaction with their investigation.
“Their work made it possible to detect, given the limitations and imperfections of the human factor of every institution, the generosity and dedication of those who work with uprightness and generosity in the Holy See,” read a Vatican statement.
The Vatican statement pointedly added: “The Holy Father has decided that the acts of this investigation, known only to himself, remain solely at the disposition of the new pope.”
Many here had expected the investigating cardinals, who are too old to participate in the conclave, would brief the voting cardinals about their findings.
Today Vatican officials clarified the investigating cardinals will be free to discuss their investigation with the other cardinals, as the voting members of the conclave seek to understand the challenges the next pope will face.
But the dossier itself will remain “For the Pope’s Eyes Only.”
ISLAMABAD: Pakistan was hit by a nationwide blackout for more than two hours after the breakdown of a major plant caused power stations to stop working across the country, officials said Monday.
While power cuts are common in Pakistan due to chronic underinvestment in infrastructure, outages across the whole country are rare.
Late Sunday's blackout occurred when the HUBCO plant in southwestern Baluchistan province, which generates 1,200 megawatts a day of electricity, developed a technical fault, said official Rai Sikandar.
That breakdown prompted a "cascading effect" which caused plants nationwide to shut down, said the water and power ministry official.
"It was a technical fault in one of our power plants and not in the national grid," he insisted, adding that electricity was gradually being restored across Pakistan after it remained off for more than two hours.
Another ministry official said power should be back on across the country within two hours.
He said that all 24 power stations in the capital Islamabad were working again and electricity was being restored in parts of all the country's four provinces.
"1,200 megawatts of electricity is back in the national grid with the restoration of different power stations," said the official.
He added an inquiry would look into the causes of the technical fault at HUBCO. "It would be pre-mature at this stage to speculate about the nature of the fault that caused the plant to fail."
Paid channel subscriptions on YouTube may be closer than previously thought.
After reports last month that YouTube was considering offering channels that would require a fee to access, code has now appeared that suggests Google is already laying the software foundation for subscription channels.
According to Android Police, the latest version of YouTube for Android includes two lines of code that refer to paid channel subscriptions. The code, apparently intended to generate messages on users' screens, say:
You can only subscribe to this paid channel on your computer.
You can only unsubscribe from this paid channel on your computer.
YouTube had approached a handful of producers about developing content for a subscription platform that might the Google-owned video-sharing site hoped to launch this year, according to an AdAge report in January. YouTube was also mulling a plan to charge for other items, such as entire libraries of videos, live events, and even self-help or financial advice shows, AdAge reported.
A paid content platform would offer viewers an alternative to traditional TV, as well as deliver new revenue streams through subscriptions and ads placed in the channels.
YouTube has floated the idea of launching subscription services in the past but has so far balked at the idea. YouTube CEO Salar Kamangar said in February 2012 that his company was considering allowing content providers to create their own, unique subscription-based video service on the site.
CNET has contacted YouTube for comment on the code and will update this report when we learn more.
