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Tuesday, July 15, 2014

Economists are really worried about China's massive property sector

The Rise of China


  @sophia_yan
NEW YORK (CNNMoney)

A dramatic building boom helped China to develop the world's second largest economy. But now, economists say, a runaway real estate sector poses the greatest risk to growth.

china property market
Eight out of 10 economists say the property market poses the biggest threat to the economy, according to a new survey conducted by CNNMoney.
That's a shift from the previous three quarters, whenmost economists identified credit growth as the primary hazard.
"The major concern is oversupply -- property construction has been growing at an unsustainable rate, with the pace of urbanization having peaked," said Qinwei Wang of Capital Economics. "With developers' inventories of unsold property still increasing, real estate looks set to remain a drag on the economy."
It's easy to see why economists are concerned. JPMorgan estimates the sector and related services make up about 20% of GDP, and property investment alone accounted for more than 15% of economic growth last year.
Already, ailing developers in the country's smaller cities are offering big discounts to unload property. Even major cities have seen falling prices and waning real estate investment demand.
Economists worry that a housing shock could ripple out to the broader economy, especially the banking sector -- which provides financing to many developers. In addition, real estate is closely tied to the manufacturing and services sectors.
sluggish property market could also hurt Beijing's ability to hit its official GDP growth target of 7.5% for 2014.
Some analysts argue the point of no return has passed.
Nomura economists, long among the most bearish of bank analysts, said in May that China's property bubble has already burst, and the country's economy could slow dramatically unless Beijing steps in with new stimulus measures.
"It is no longer a question of 'if' but rather 'how severe' the property market correction will be," the bank's analysts said in a report.
To combat a sluggish property sector, economists surveyed by CNNMoney expect the central government to continue to prod local jurisdictions to relax restrictions on multiple home purchases. Those rules were previously put in place in an attempt to arrest rising property prices.
Analysts say China will also have to rely heavily on other areas, such as exports, to support growth if the property market continues to flounder. 

Ugly Reality Intrudes On World Cup’s Glow

WORLD CUP

RIO DE JANEIRO — When Mario Götze scored the goal that won Germany the World Cup on Sunday, it was the 171st goal of the tournament, equaling the highest total in World Cup history. This was fitting: The 64 games in Brazil were by turns exciting and enthralling, captivating and compelling. Many longtime observers called it the best World Cup in memory. On the whole, it is hard to disagree. This was amazing theater.
Yet the most frustrating thing about international soccer is that even after a final like Sunday’s — even after five weeks of drama and magic and grace and beauty — it is impossible to linger in the afterglow. Reality always intrudes.
So it was Monday, when Sepp Blatter, the president of FIFA, soccer’s governing body, met the news media for a rare news conference. Blatter, 78, is the head of an organization that just put on an event adored around the world, one that concluded with a match seen by an estimated one billion people. He is also the head of an organization that is accused of being rife with corruption and bribery; has been rocked by persistent claims of match fixing and other skulduggery; and, with this tournament as just the latest example, seems to be woefully uninterested in acknowledging its culpability when it comes to player safety, particularly players who have sustained head injuries.
After a largely successful World Cup, Sepp Blatter, FIFA's president, must face criticism regarding player safety, match-fixing allegations and possible corruption in the bidding process for future Cups. CreditPilar Olivares/Reuters
Blatter, understandably, tried to weave a positive message during his question-and-answer session, but he also, understandably, found himself on the defensive. A man who has a history of making insensitive comments (particularly with regard to gender), Blatter also fell back on a sadly familiar demeaning tone when a female reporter questioned him about allegations that World Cup tickets had been resold by an insider at prices above face value.
“Listen, lady,” he said, “when you speak about corruption, then you have to present evidence.”
As it turns out, that may not be a problem. Michael Garcia, a lawyer who was appointed to lead an investigation into the process through which FIFA’s executive committee awarded the 2018 and 2022 World Cups to Russia and Qatar, is expected to issue his report on suspected improprieties to FIFA later this month. Widespread reports have arisen regarding the bidding process, and speculation, particularly with regard to Qatar, has only mushroomed with each new account.
Some have called for Qatar to be stripped of the 2022 tournament. But even if the emirate retains the World Cup, which seems likely, there remains much consternation over the practicality of holding a soccer tournament in a country where summer temperatures top out at well over 100 degrees. Simply moving the tournament to the winter is problematic, too, because that would have a significant impact on scheduling for domestic leagues over several seasons, and for the television networks like Fox that paid hundreds of millions of dollars to broadcast a summer event.
Blatter has been circumspect about Qatar, and another FIFA committee is expected to issue a report on the ramifications of a schedule change next year.
More immediately, the organization must deal with fallout from continued issues with match fixing. A report in The New York Times before the World Cup highlighted a series of games that were fixed shortly before the South Africa World Cup in 2010, and the problem has been shown to reach all levels of the game in countries around the world, perhaps even this World Cup.
Then there is the issue of player safety. On Sunday, Christoph Kramer of Germany toppled to the ground after colliding with an Argentine opponent and was dazed as a result of a head injury. He was treated on the field, came off to the sideline for a few moments (as required by the rules) and then, within minutes, returned to action. In doing so, he became at least the third player in this tournament to sustain a serious blow to the head and continue playing with only a cursory examination.
Kramer was replaced before halftime, but that he played on for at least 10 minutes while obviously disoriented only highlights the absurdity of soccer’s rules on treating head injuries. FIFA has generally put the onus for handling these situations on team doctors, but that is skirting responsibility; it is past time that FIFA confronts the reality of head injuries and uses neutral doctors (who have the power to keep a player from playing) on the sideline during games, and to revise substitution rules so that coaches, limited to three subs a game, are not inclined to risk a player’s health because it might cost them a precious opportunity to make a change later on.
These are just a few of the significant issues that FIFA must deal with as the spotlight from its marquee event fades away. There are others, too, such as the scourge of player-agent commissions and third-party ownership, as well as the larger philosophical issue about where future World Cups should be played.
Brazil, obviously, required significant construction and infrastructure improvements to host the tournament that came at a huge cost to Brazilians. Russia, which will host in 2018, faces similar investments, and Qatar, clearly, is a work in progress. Given the hardships that go with hosting such an event, is it appropriate for FIFA to continue taking the World Cup to nations that do not have the built-in infrastructure to host it?
Blatter danced around a question on that subject, too, and circled back to the quality of this event. Brazil deserves praise, to be sure, as the tournament itself ran relatively smoothly, particularly since the action on the field was so compelling.
But Sunil Gulati, the president of the United States Soccer Federation and a member of FIFA’s executive committee, was more direct when asked this month about the possibility that the success of the games in this World Cup might obscure the larger issues facing FIFA.
Gulati did not hesitate, noting that the games were, indeed, fantastic, but that fantastic games cannot — and should not — be mistaken for a panacea.
“That shouldn’t disguise any of the other issues the organization faces, either internally or externally,” he said. “Those are still there.”

Sunday, July 13, 2014

Trump Plaza casino owners expect it to close

AP Trump Plaza Closing
(Photo: Wayne Parry AP)

ATLANTIC CITY, N.J. (AP) — Atlantic City's crumbling casino market disintegrated even further Saturday as the owners of the Trump Plaza casino in Atlantic City said they expect to shut down in mid-September.
Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors Sept. 16.
Notices warning employees of the expected closing will go out to the casino's 1,000-plus employees Monday.
If Trump Plaza closes, Atlantic City could lose a third of its casinos and a quarter of its casino workforce in less than nine months. The Atlantic Club closed in January, the Showboat is closing next month and Revel might do likewise if a buyer can't be found in bankruptcy court.
Trump Entertainment Resorts told the AP that its managers and board of directors "have been reviewing alternatives for the property. Although this review has not been completed and no final decision has been made, the company expects that it will terminate the operations of Trump Plaza Hotel and Casino on or shortly after September 16, 2014."
A source with direct knowledge of the situation who was not authorized to speak to the media told the AP that the company has hired a search firm to solicit buyers for Trump Plaza, an effort that remains ongoing. So far, no buyer has emerged.
The company did not indicate what might become of the building after it is closed.
Trump Plaza, which cost $210 million to build, opened in May 1984 as one of Donald Trump's pet projects. The real estate mogul has since limited his dealings in Atlantic City to a 10 percent stake in Trump Entertainment Resorts and does not control its day-to-day operations.
The news is the latest in a cascade of setbacks for Atlantic City's gambling market, which until just a few years ago was the second-largest in the nation after Nevada; Pennsylvania has now taken over that spot. Analysts have long said that the casino market here, and in the Northeastern United States, has been oversaturated, and that some casinos need to close to ensure the survival of others.
That's what is behind the decision by Caesars Entertainment, the world's largest casino company, to shutter the still-profitable Showboat next month. CEO Gary Loveman said Atlantic City has too many casinos. The company will still operate three other Atlantic City casinos.
Caesars also joined with Tropicana Entertainment to buy the Atlantic Club from bankruptcy court last December, divide its assets and shut it down.
On Jan. 1, Atlantic City had 12 casinos. By the end of September, it could have eight.
The Atlantic Club closure cost 1,600 workers their jobs. An additional 2,100 at Showboat will be unemployed as of Aug. 31, in addition to the 1,009 Trump Plaza workers on the payroll. Revel has 3,100 workers who could lose their jobs if the 2-year-old casino resort is not sold.
Trump Entertainment Resorts has tried for years to sell Trump Plaza, the poorest performing casino in Atlantic City despite its prime location at the center of the Boardwalk at the end of the Atlantic City Expressway, the resort's main gateway into the city. A deal to sell it last year for $20 million to a California firm fell through.
It won less than $73 million from gamblers in all of last year, ranking last out of the 12 casinos that operated then. So far this year it has taken in nearly $21 million, down almost 27 percent from the same period last year.
The company had three Atlantic City casinos before it sold Trump Marina to Texas-based Landry's Inc. which turned it into the Golden Nugget Atlantic City in 2011. Trump Entertainment will now operate just one casino, the Trump Taj Mahal Casino Resort.

Private US Cargo Ship Launching to Space Station Today: Watch It Live

WALLOPS ISLAND, Va. — After a series of delays, a robotic spacecraft built by the private company Orbital Sciences is counting down to launch today (July 13) on a mission to deliver experiments and supplies to the astronauts living aboard International Space Station.


You can watch the launch live on Space.com, courtesy of NASA TV. The webcast will begin at 12 p.m. EDT (1600 GMT), and liftoff from the Eastern Shore of Virginia is set for 12:52 p.m. EDT (16:52 GMT). Weather permitting, the huge rocket may be visible over parts of the U.S. East Coast as it streaks out over the Atlantic Ocean.



Broadcast live streaming video on Ustream
As tall as a 13-story building, Orbital's Antares rocket will be carrying the company's Cygnus capsule, which is packed with about 3,293 lbs. (1,493.8 kilograms) of cargo, including astronaut food, equipment, science experiments and small satellites. [Gallery: Orbital Sciences' Orb-2 Cargo Mission in Photos]
The launch will be Orbital's second official resupply mission to the space station after a first flight in January and a demonstration flight that brought Cygnus to the orbiting lab in September 2013. Orbital, which is based in Dulles, Virginia, has a $1.9-billion contract with NASA to carry out eight cargo missions through 2016. Elon Musk's SpaceX, the only other commercial company with a NASA resupply contract, has been commissioned to fly 12 missions to the station under a $1.6 billion deal.
"We're real proud to be part of the team that is keeping the station flying and providing the crew with cargo and the research that they need," Frank Culbertson, a former NASA astronaut and Orbital Sciences executive vice president, told reporters in a pre-launch briefing Saturday afternoon (July 12).  
The rocket will blast off from a seaside pad operated by the Mid-Atlantic Regional Spaceport, or MARS, at NASA's Wallops Flight Facility on Wallops Island, Virginia.
If all goes according to plan, the Cygnus spacecraftwill reach its initial orbit about 10 minutes after launch. Then, the capsule will perform a series of maneuvers to reach the International Space Station by Wednesday morning (July 16). Astronauts living on board the orbiting lab will capture the vessel using a huge robotic arm.
"It's been a little bit of a challenge to get to this point," Culbertson said.
The mission, dubbed Orb-2, was originally scheduled for May. It had been postponed due to conflicts with other launches and technical issues, including the failure of an AJ26 engine — the kind that powers Antares' first stage — during a test at NASA's Stennis Space Center in Mississippi, which prompted an investigation.
Then this week, the mission was repeatedly delayed because stormy weather prevented Orbital's launch team from conducting normal operations to get the rocket ready on the pad. But by Saturday morning (July 12), the gray clouds and fog that had been hanging over the region dissipated. Launch managers are expecting a 90-percent chance of favorable weather for launch on Sunday, with partly cloudy skies and a slight breeze, said Wallops Flight Facility test director Sarah Daugherty.
Launching a rocket from the Eastern Shore on a Sunday during peak summer tourism season poses an interesting set of challenges: crowds of vacationers and boaters. But Daugherty said Wallops officials have made an extra effort to talk to recreational boaters about staying out of the danger zone around the pad.
"We're confident that we can have a clear range for the first second of that five-minute window," Daugherty said.
Unlike SpaceX's Dragon capsule, which is reusable, Cygnus is disposable. Orbital's vessel will be berthed to the space station for about 30 days before it is filled with trash and cast off toward Earth, where it will eventually meet its fiery demise in the atmosphere over the South Pacific.
Visit Space.com today at 12 p.m. EDT for live coverage of Orbital Sciences' Antares rocket launch. 
Follow Megan Gannon on Twitter and Google+. Follow us @SPACEdotcomFacebook or Google+. Originally published on Space.com.
Copyright 2014 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

London firm creates mind-controlled commands for Google Glass

MindRDR

Forget voice commands and touch gestures: A London firm has developed a way for Google Glass users to control their devices just by thinking.
This Place, an agency that specializes in creating user interfaces and experiences for programs used in the medical industry, developed a software called MindRDR that allows Google Glass to connect with the Neurosky MindWave Mobile EEG biosensor, a head-mounted device that can detect a person's brain waves.

EEG stands for electroencephalography, which is the measurement and recording of electrical activity in the brain. EEG biosensors have been around for decades, but until recently they were very expensive. Neurosky is a Silicon Valley company that sells EEG biosensors, some for as little as $79.99 from Amazon.com.
The system works by pairing the EEG biosensor with Google's $1,500 Glass device using Bluetooth. Once the connection has been made, the user fires up MindRDR, which takes what the EEG biosensor detects and converts it into commands that Glass can process. 
After turning on the app, users will see a camera interface on the screen of their Google Glass. They can then pick a subject, aim their head in its direction, and concentrate on it while Glass displays a meter showing the level of their brain waves. The more intently a user focuses, the higher the meter climbs until it reaches the top, triggering Glass' camera. By repeating the process, users can direct MindRDR to upload the photo to one of their social networks. 
For now MindRDR can only be used to snap pictures, but This Place Chief Executive Dusan Hamlin said he hoped the agency would continue developing the software so that it could eventually help users overcome mobility limitations. Specifically, Hamlin said he would like MindRDR to help people who suffer from locked-in syndrome, in which a patient has lost motor control but remains aware and alert, as well as quadriplegia.

But the possibilities for MindRDR extend beyond the medical field. Hamlin said he sees MindRDR as the launching point for a world where people can interact with their digital devices by simply thinking about what they want. To that end, This Place has uploaded the code for its software onto GitHub, a popular website used by developers to share code they create with others for free.

"The ability to be able to use their mind to make outputs to a device could be a huge thing for them,” Hamlin told the Los Angeles Times in a Skype interview.
started,” Hamlin said.
Related story: Google Glass with designer frames go on sale on fashion websites

Thursday, July 10, 2014

Google Glass Reviews / What is Google Glass ?

In previous days people listen a word Google Glass. The smart glass is making a rumors in people. But it is a technology time nothing is impossible. Google cleared  it is neither a rumors nor impossible. Google is making  a dream Eye Glass those is based on wearable technology.  The first version of Google Glass are in hand of developer. It is coming in market end month of this year or starting month of next year . You do any thing with the Google Glass. With Google Glass will  you are feeling freedom of “ Hand free”? I am saying yes it is true.
Everyone has a question in mind what is Google Glass  ? I am introducing Google Glass for you.

What are the Silent Features of Google Glass ?

google glass features
  • Type –: Augmented reality (AR),Optical head-mounted display(OHMD), Wearable technology, Wearable computer .
  • CPU –: OMAP 4430 SoC, dual-core.
  • Camera –: 5MP for tacking picture and recording.
  • Memory –: 1GB RAM, 16GB internal memory.
  • Display –: Prism projector, 640×360 pixels (equivalent of a 25 in. screen from 8 ft. away).
  • Operating System –: Lithium Polymer battery.
  • Input –: Voice command through microphone,accelerometer,gyroscope,magnetometer,ambient light sensor, proximity sensor.
  • Connectivity –: Wi-Fi 802.11b/g,Bluetooth,micro USB.
  • It is strong and light in weight has evolution design with five colors –: Charcoal, Tangerine, Shale, Cotton, Sky.

What is Google Glass ?


Google Glass

Google Glass is access with your desktop computer portable device like phones and tab and place all access data in front of your eyes. Totally Google Glass has a camera , touchpad, display, battery , microphone those are built in a Spectacle frame. So you can watch and record video and take image , display in your field of vision , search and translate on the go. The display of access data is 25 inch HD screen from 8 feet away from you.

What can Google Glass do for you ?

It is work as a projector  Google Glass attempts all data from your device and display all data in front of your eyes. Take  pictures and video when you say “Google Glass Take a Picture or Video “ it is start to perform command and save data in memory. You will be can access Google MAP to get directions . GPS system is access when you connect your phone with Google Glass message can received and viewed on the display.It is well fine interrupt your voice.  You can
  1. Send message by voice command “ Send Message to boss , I will be Late today”.
  2. Share What You see live
  3. Record What You see live
  4. Ask anything those are in your mind
  5. Translate your voice in any language.
When Google Glass will release and What’s it is price ?
Google Glass price and releasing date is in speculative . The Google Explorer costs $1,500 – around £985 or AU$1,449. Final date is not announced but according to source it will come in 2014.
What is the Google Glass harmful for you ?
Yes it is harmful for you , Google released some instruction before it use. The important note is if you already wearing specs it is not beneficial for you . At the driving time please not use it. It is harmful your body if you will be spending more time with Google Glass.
To Watch Google Glass Demo Please Click On Video