Bob Geldof calls for more nuclear power
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Anti-poverty campaigner Bob Geldof joined the global warming debate on Thursday with a call for the rapid expansion of nuclear power, describing renewable energy as a “Mickey Mouse” answer to the climate crisis. The Irish former rock star, known for his campaigning on poverty relief in Africa, was writing on a blog set up by carmaker Lexus to promote hybrid road vehicles.
“The reality is that we need to do much more than change the type of car we drive to make an impact on climate change. In the UK, we’ll soon have to scramble for more nuclear power,” Geldof wrote.
“On this issue, I don’t care what anyone says: we’re going to go with it, big-time. We may mess around with wind and waves and other renewable energy sources, trying to make them sustainable, but they’re not. They’re Mickey Mouse,” he added.
The comments are unlikely to endear him to the environmental lobby which condemns nuclear power as dirty, dangerous and expensive.
For its part the nuclear power industry says it is at least part of the answer to global warming caused by emissions of carbon gases from burning fossil fuels for power and transport.
United Nations environment ministers meeting in Indonesia are split over the guidelines for starting two years of formal negotiations on a deal to succeed the Kyoto Protocol, a U.N. pact capping greenhouse gas emissions of all industrial nations except the United States until 2012.
Two Surveys Show Big Rate Moves In Opposite Directions
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The two mortgage interest rate surveys upon which we report each week showed big changes for long term rates during the week ended December 6 and 7, but the difference in the outcomes was striking. Two of the products tracked by Freddie Mac dropped to new two year lows while the Mortgage Bankers Association (MBA) reported substantial upward movement.
The most recent result of Freddie Mac’s Primary Mortgage Market Survey for showed the 30-year fixed-rate mortgage (FRM) averaging 5.96 percent with 0.4 point. One week earlier it averaged 6.10 percent with 0.5 point. This is the lowest rate for the 30-year FRM since the week ended September 29, 2005 when it averaged 5.91 percent.
But the MBA Weekly Mortgage Applications Survey reported in increase in the 30-year FRM of 25 basis points to 6.07 percent with points, including the origination fee, increasing to 1.17 from 1.07.
According to Freddie Mac the 15-year FRM reached the lowest point since the week ended October 13, 2005 when it averaged 5.62 percent by dropping 11 basis points between November 29 and December 6, ending the week at 5.65 percent with 0.5 point.
MBA reported an increase for the 15-year FRM from 5.38 percent with 1.12 points to 5.72 percent with 1.01.
Five-year Treasury-indexed hybrid adjustable rate mortgages (ARMs) which are only tracked by Freddie Mac had an average interest rate of 5.75 percent with 0.5 point compared to the previous week when it was at 5.92 percent also with 0.5 point. This is also a more than 2-year low. During the week ending October 27, 2005 the five-year averaged 5.63 percent.
Both surveys reported a small increase in the rate for one-year ARMs. Freddie Mac’s survey showed an average interest rate of 5.46 percent with 0.6 point, compared to the previous week when it averaged 5.43 percent with 0.7 point. MBA reported an average contract interest rate of 6.31 percent with 0.97 point from 6.28 percent with 0.99 point.
Frank Nothaft, Freddie Mac vice president and chief economist commented, “House prices rose only 1.8 percent over the 12-months ending September 30th, the slowest rate of growth since the 12-month period ending March 31, 1995, according to the Federal Housing Finance Board’s national house-price index. With lower consumer spending and personal income gains in October, interest rates on U.S. Treasury securities fell lower this week and mortgage rates followed.
“In addition, U.S. nonfarm productivity jumped by an annual rate of 6.3 percent in the third quarter, the most since 2003, while labor costs fell 2.0 percent. Greater efficiencies and lower costs ease pressures for companies to raise prices and offer the Federal Reserve (Fed) more leeway to reduce short-term rates. Currently, the federal funds futures market has almost a 100 percent probability that the Fed will lower rates in its December 11th policy committee meeting. These combined factors will likely diminish upward pressures on mortgage rates over the next few months.”
And, of course as predicted, the Federal Reserve did cut the federal funds rate by one-quarter point Tuesday.
MBA also reported that the volume of mortgage applications increased 2.5 percent last week on a seasonally adjusted basis and 1.4 percent unadjusted from one week earlier. The volume was 14.2 percent above the activity reported during the same week in 2006.
Refinancing activity represented 57.6 percent of total mortgage applications compared to 56.0 percent one week earlier while the popularity of adjustable rate mortgages continued to fall. ARMs now represent only 9.4 percent of applications; one week earlier ARMs had a market share of 11.6 percent.
Create and care for your own virtual pet on your Nokia device
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Nokia now offers a world of virtual pet-care so your pet is never left alone again. Creebies, available through the N-Gage mobile games service, gives each player their own 3D Creebi to care for, entertain, feed and even breed!
Supplied with a trailer and some virtual cash, you can customize your new friend and home with various accessories. Soon, the 3D pet will take on its own personality and appearance based on the attention it receives. With care, the pet will grow and become more independent. However, make sure to keep an eye on its individual health meters, which will let you know when its hungry or feeling ill.
“Nokia Games Publishing has brought a quirky game to N-Gage that appeal to all ages,” said Dr Mark Ollila, Director of Technology and Strategy and Head of Games Publishing, Nokia. “With Creebies anyone can have the pleasure of owning a pet without the trouble of cleaning up the mess.”
Your Creebi can also interact with other Creebies via Bluetooth technology - for instance, they can play games together or even breed. Players can show off their newborns to others or send them to new homes through the Adoption Center in the N-Gage Arena.
Creebies is expected to be available in early 2008.
About N-Gage
N-Gage is a made-for-mobile games service available in compatible Nokia Nseries and other S60 3rd Edition devices from Nokia. N-Gage makes it easy to find, try, buy, play and manage high-quality mobile games as well as connect to friends and other players in the N-Gage Arena, Nokia’s mobile gaming community. Nokia is working with the world’s leading publishers to deliver a broad portfolio of games. www.n-gage.com
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. Nokia makes a wide range of mobile devices and provides people with experiences in music, navigation, video, television, imaging, games and business mobility through these devices. Nokia also provides equipment, solutions and services for communications networks. www.nokia.com
CityView Completes $10 Million Placement
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CityView Corporation Limited (”CityView”)(OTCBB:CTVWF)(ASX:CVI) is pleased to announce that it has successfully completed the placement of 41.71 million ordinary shares at $0.24 per share to raise $10 million. Intersuisse Corporate Pty Ltd acted as a manager to the placement, with participation from local and overseas sophisticated and other investors under Section 708 of the Corporations Act.
The Company will primarily utilise the funds raised through this placement to finalise its oil projects in Angola and Cameroon and increase its holding in Fortitude Minerals Limited.
Mark Smyth, Chief Executive Officer
About CityView Corporation
City View Corporation Ltd. is an exploration and development company. It is managements’ objective to grow CityView into a significant uranium, beryllium, oil and gas project by developing its interest in Angola. The company trades on the OTCBB market under the symbol “CTVWF” and on the Australian Exchange under the symbol “CVI”. For more information please visit the company’s web site at: www.cityviewcorp.com
Forward-Looking Statements
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provision of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, and performance. Forward-looking statements are subject to risk and uncertainties that may cause the company’s results to differ materially from expectations. These risks include the company’s ability to complete transactions which remain subject to a due diligence review, obtaining any regulatory approvals, having necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, building a functional infrastructure, and other such risks as the company may identify from time to time. Accordingly, there is no certainty that the company’s plans will be achieved.
Forbes on Macworld keynote expectations
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A fair number of new devices and other offerings may be announced at next month’s Macworld Expo, says Forbes. The magazine notes that while Apple followers can sometimes have fantastic expectations for the keynotes delivered by Apple CEO Steve Jobs, some of the products they previously speculated about may finally materialize. Among these is a sub-notebook, which is rumored to have a 12- to 13-inch screen with LED backlighting, optional flash memory, and no optical drive.The forecast price of the system is said to be approximately $1,500, which if true, would be more expensive than most conventional notebooks. Creative Strategies analyst Tim Bajarin notes that ultra-mobile machines account for only 10 percent of the notebook market; Blackfriars analyst Carl Howe suggests this may not be an issue, however, if Apple’s product has a unique interface, such as iPhone-like multi-touch.
Apple is further rumored to be working on a tablet, which may the same product as the sub-notebook, or completely separate. The tablet may also be intended as a media-sharing device, for which the iPod touch could be the template.
At least one new iPhone is guaranteed to release in 2008, though it may not be announced at Macworld. Jobs could however touch on the subject, and there is speculation that cheaper phones such as an “iPhone nano” are in development.
Some form of new content is expected on the iTunes Store as well, whether it is the first HD video releases, or the availability of The Beatles’ back catalogue, which has never been sold before via digital download. The Store recently managed to acquire all four band members’ solo projects.
Source: MacNN