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Investors hear 3 words they fear inverted yield curve

first_imgNEW YORK — One of the most reliable warning signals for a recession just got a bit brighter.The signal is called the “yield curve,” and it shows how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday the yield curve signalled caution and, along with worries about global trade and interest rates, it helped send the stock market to one of its worst days of the year.WHAT IS IT?The yield curve measures how much more in interest investors get for owning a long-term Treasury bond than a short-term one. When the economy is healthy and investors are forecasting good times ahead, they generally demand higher yields for Treasurys that mature a decade or more into the future than those maturing in a year or two. That’s in part because investors expect the Federal Reserve to raise interest rates in the future as the economy and inflation power higher.But when investors are worried that growth will fall off sharply, perhaps as a result of the Federal Reserve pushing short-term rates higher, they’re willing to accept less in interest for a Treasury maturing far in the future.When yields for short-term Treasurys fall below yields for long-term ones, market watchers call it an “inverted yield curve,” and Wall Street starts getting more nervous.WHAT JUST HAPPENED?The yield on the five-year Treasury dropped below the two-year and three-year Treasury yields on Monday. By Tuesday afternoon, the five-year yield was at 2.78 per cent, 0.01 percentage points lower than a two-year Treasury and 0.02 points lower than a three-year Treasury.It’s the first time any part of the yield curve has inverted since 2007, before the start of the Great Recession.SHOULD I PANIC?No, at least not yet. Most economists are forecasting the U.S. economy will continue to grow in 2019, though at a slower pace than this year. The job market is strong, and consumer confidence is still high.Market watchers also say they won’t get worried until a more important part of the yield curve flips. They pay much more attention to the spread between two-year and 10-year Treasury yields. An inversion of this part of the yield curve has preceded each of the last nine recessions dating back to 1955. It was still positive on Tuesday at 0.12 percentage points.Of course, that’s still “pretty doggone tight,” said Randy Frederick, vice-president of trading and derivatives at Charles Schwab. A year ago, the cushion was at 0.62 percentage points.The Cleveland Fed, meanwhile, has focused on the difference in yields between three-month Treasurys and 10-year Treasurys. An inversion in that part of the curve has preceded each of the last seven recessions. But it also has not inverted, and a 10-year Treasury yields 0.50 percentage points more than a three-month Treasury bill.Even if the more important parts of the yield curve flip to inversion, that doesn’t mean a recession will happen the next day. It has sometimes taken more than a year for a recession to occur after the yield curve inverts.There have also been false positives in the past, where the yield curve has inverted but no recession has followed, such as in 1966.___AP Business Writer Alex Veiga contributed to this report.Stan Choe, The Associated Presslast_img read more

Record November for UK engine manufacturing as yeartodate home market tops 1

UK engine manufacturing rises 20.0% in November, with 250,879 units produced – the highest on record.Domestic demand fuels growth, up 36.1% in the month and surpassing one million in the YTD for the first time.Overall year-to-date output reaches 2.4 million – a 7.7% uplift on the first 11 months in 2015. Mike Hawes, SMMT Chief Executive, said,November’s surge in demand for UK-built engines is good news, and thanks to billions of pounds of recent investment in new plants to serve Britain’s booming vehicle manufacturing sector. However, although domestic supply is growing rapidly – up some 70% since records began in 20091 – overseas demand still accounts for more than half of production. If this important sector’s growth is to continue, the right trading conditions must be maintained to keep the whole industry internationally competitive.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more

Freshman center Daniel Giddens to exit Ohio State mens basketball program

OSU freshman forward Daniel Giddens (4) during a game against Michigan State on Feb. 23 at the Schottenstein Center. Credit: Samantha Hollingshead | Photo EditorDaniel Giddens, a freshman on the Ohio State men’s basketball team, asked for his release from the program Monday and is expected to transfer, according to a report from ESPN’s Jeff Borzello. An OSU spokesman confirmed to The Lantern that Giddens requested to be released. Giddens, a 6-foot-10 center, started seven games for the Buckeyes during the 2015-16 season, averaging 3.8 points and 3.6 rebounds per game. His defense, though, was his biggest contribution to OSU. The Mableton, Georgia, native supplied the Scarlet and Gray with a shot-altering presence in the paint, making it difficult, at times, for opponents to get easy baskets near the rim. He blocked 50 shots this year for an average of 1.5 per game. Giddens becomes the second member of coach Thad Matta’s 2015 recruiting class bolt from the program, joining Austin Grandstaff, who left the team in December. Grandstaff eventually enrolled at Oklahoma. With Giddens’ impending departure, there’s a chance that next season the Buckeyes could be without their top two post players from this year. Redshirt sophomore Trevor Thompson, OSU’s usual starter, declared for the NBA draft over the weekend, taking advantage of new rules that allow players to test the waters and return as long as they don’t hire an agent. Although Thompson is widely expected to come back to school, the Buckeyes have two post players committed in their 2016 recruiting class. Both players — Derek Funderburk and Micah Potter — are four-star prospects, according to ESPN. David Bell, a 6-foot-10 redshirt freshman center, will be back in the frontcourt for OSU, as well. He appeared in 23 games for the Buckeyes, averaging 1.1 points and 1.5 rebounds per game. The potentially crowded frontcourt could have been a major reason for Giddens’ departure. read more

Board of Trustees Finance Committee approves changes to football basketball ticket pricing

Fans cheer as players run onto the field at Ohio Stadium before a game. Credit: Lantern file photoOhio State’s Department of Athletics cleared its first hurdle in requesting that changes be made to the current ticket-pricing system for football and basketball: The Finance Committee of the Board of Trustees approved the plans Thursday afternoon.Under the proposal, individual, home-game football tickets for the 2017 season would range from $65 to $190; the current price scale has tickets ranging from $70 to $195. Both price ranges use a system of dynamic pricing, where varied prices are set based on the perceived demand of the game.The current 15-percent discount that season ticket holders receive, and 20-percent discount that OSU faculty and staff receive when buying season tickets, would remain in place for next year, said athletic director Gene Smith, who was in attendance during the meeting. Student prices, which are $34 per game when bought in Big Ten and full-season packages, are to remain at the same price through 2020.Army and University of Nevada, Las Vegas are scheduled to be the cheapest tickets, at $65 and $70 each, respectively. A ticket for Michigan State or Oklahoma is set to cost $190.Screen grab of the proposed OSU home football game ticket prices for the 2017 season. Credit: Ohio State Board of TrusteesChanges to the pricing model for Buckeye basketball were also approved at the Finance Committee meeting. Individual, home-game tickets for the 2017-18 season would range in price among a system of four seating sections and classifications of games. The first rank of games, exhibition games, would range from $5 to $10 depending on the seating section, and the most expensive “premier” games would range from $14 to $57. Student-section prices would remain unchanged, ranging from $10 to $13.The proposal also introduces a 12-percent discount for season-ticket holders, and the faculty and staff season ticket discount of 20 percent would remain unchanged.Both plans require final approval from the full board on Friday. read more

Massive surge in domestic mining equipment shipments

first_imgA US Census Bureau report has recorded a massive surge in mining machinery shipments for 2006. According to the report, Mining Machinery and Mineral Processing Equipment: 2006, US mining equipment manufacturers shipped $2.5 billion worth of goods in 2006, marking a 26.3% increase over the $2 billion shipped in 2005, which was nearly 40% better than shipments in 2004.According to the report, shipments of underground mining machinery and equipment in 2006 totalled $684 million, marking a 14.6% increase over the 2005 figure. Shipments of portable drilling rigs jumped 41.6%, totalling $952.2 million in 2006. The growth in portable drilling rig shipments in 2006 follows a 46% increase recorded in 2005, while 2006 shipments of stationary, crushing, pulverising and screening machinery were valued at $478.5 million, an increase of 21.2%.A complete copy of the report is available at: http://www.census.gov/industry/1/ma333f06.pdf.last_img read more

Investigation launched after newborn baby girl found dead in car

first_imgPOLICE IN NORTHERN Ireland have launched an inquiry after the body of a newborn baby girl was found in a car on Tuesday evening.The PSNI has issued a statement to say detectives are investigating the circumstances surrounding her death. The infant was found in a car in a street off the Upper Newtownards Road.Officers are assessing the results of a post mortem examinations and making enquiries with the family of the deceased.The PSNI advised no further information will be made available at this time.last_img read more

Kerry end Munster U21 football title wait in style with emphatic 16point

first_img Mar 29th 2017, 9:08 PM Wednesday 29 Mar 2017, 9:08 PM https://the42.ie/3313975 Kerry end Munster U21 football title wait in style with emphatic 16-point win over Cork It’s the Kingdom’s first provincial title win since 2008. 8 Comments By Fintan O’Toole 21,899 Views Short URLcenter_img Kerry 2-16Cork 0-6Fintan O’Toole reports from Páirc Uí RinnIT MAY HAVE been a frustrating grade in recent years but Kerry returned to the winners enclosure in style tonight as they claimed the EirGrid Munster U21 football title.Jack O’Connor’s side produced a hugely impressive performance to see off Cork by 16 points in Páirc Uí Rinn and book an All-Ireland semi-final date with the winners of next Saturday’s Connacht decider between Galway and Sligo.Goals in either half by Matthew O’Sullivan and Conor Geaney helped Kerry on the road to victory while there were sparkling point scoring displays from Sean O’Shea and Killian Spillane in attack as they hit 0-6 and 0-5 respectively.Kerry were in front 1-6 to 0-3 at the break. They reeled off the opening four points of the match inside the opening seven minutes, evidence of their bright play from the start.Cork did rally to hit three on the bounce to be within touching distance at the end of the first quarter and were unlucky to see a powerful strike by Michael Hurley cannon off the upright.But that was as close as the home side and reigning champions got to their opponents. Kerry pulled clear before the break, O’Sullivan billowing the net in the 20th minute when he capped a fine team move. Matthew O’Sullivan fired Kerry’s first-half goal. Source: Tommy Dickson/INPHOAnd Kerry produced a blistering start to the second half as well with seven points in the third quarter of the match, while they only conceded one at the other end. Tweet thisShare on FacebookEmail this article Follow us: the42.ie Dublin cruise past Offaly to claim the first ever Leinster U21 four-in-a-rowNo go: Both Ulster U21 football semi-finals have been called off Geaney came on to produce an impressive cameo off the bench, slamming home Kerry’s second goal in the 54th minute to emphatically seal their success.Cork kept trying to the end with substitute Stephen Sherlock contributing two points while wing-back Jerry O’Riordan was unlucky to see his effort for goal cleared off the line.But there was no questioning Kerry’s superiority on the night with man-of-the-match Andrew Barry a major influence at midfield and a towering defensive display from Brian Ó Beaglaoich as well. They will march on the All-Ireland series in confidence.Scorers for Kerry: Sean O’Shea 0-6 (0-3f, 0-1 ’45), Killian Spillane 0-5 (0-2f), Conor Geaney 1-2 (0-1f), Matthew O’Sullivan 1-1, Tom O’Sullivan, Cathal Bambury 0-1 each.Scorers for Cork: Stephen Sherlock (0-2f), Brian Coakley (0-1f) 0-2 each, Sean O’Donoghue, Gary Murphy 0-1 (0-1f) each.Kerry1. Shane Ryan (Rathmore)3. Jason Foley (Ballydonoghue)2. Tom (Leo) O’Sullivan (Dingle)4. Brian Sugrue (Renard – captain)5. Brian Ó Beaglaoich (An Ghaeltacht)6. Tom O’Sullivan (Dingle)7. Gavin White (Dr Crokes)8. Andrew Barry (Na Gaeil)9. Brian Ó Seanacháin (Ballydonoghue)10. Brandon Barrett (Ardfert)11. Sean O’Shea (Kenmare)12. Matthew Flaherty (Dingle)13. Killian Spillane (Templenoe)14. Matthew O’Sullivan (St Michael’s-Foilmore)15. Cathal Bambury (Dingle)Subs18. Jack Morgan (Austin Stacks) for Sugrue (inj) (17)19. Conor Geaney (Dingle) for Bambury (half-time)23. Micheál Burns (Dr Crokes) for Barrett (46)17. Barry O’Sullivan (Dingle) for Flaherty (46)20. Cormac Coffey (Kerins O’Rahilly’s) for Tom O’Sullivan (black card) (48)22. Jordan Kiely (Dr Crokes) for Matthew O’Sullivan (52)Cork1. Ross Donovan (Nemo Rangers)2. Sean Daly (Dohenys)3. John Mullins (Eire Óg)4. Sean Wilson (Douglas)5. Jerry O’Riordan (Carbery Rangers)6. Aidan Browne (Newmarket)7. Cian Kiely (Ballincollig)9. Eoin Lavers (Dohenys)12. Sean O’Donoghue (Inniscarra – captain)13. Gary Murphy (Castletownbere)11. Sean Powter (Douglas)19. Liam O’Donovan (Clonakilty)10. Brian Coakley (Carrigaline)24. Mick Dineen (Naomh Aban)15. Michael Hurley (Castlehaven)Subs18. Daniel Meaney (St Michael’s) for Dineen (22)14. Stephen Sherlock (St Finbarr’s) for Lavers (half-time)21. Mark Buckley (Dohenys) for Murphy (42)17. Kevin O’Donovan (Nemo Rangers) for Browne (42)22. Sean O’Donovan (Ilen Rovers) for Coakley (47)20. Sean O’Leary (Bantry Blues) for Daly (56)Referee: Alan Kissane (Waterford)The42 is on Instagram! Tap the button below on your phone to follow us! Share18 Tweet Email1 last_img read more

MIT Builds Chip for More Efficient AI on Smartphones

first_img MIT’s AI Knitting System Designs, Creates Woven GarmentsResearchers Train AI To Feel Emotion, Too Let us know what you like about Geek by taking our survey. Let’s face it: Neural networks are not practical for handheld devices.Large and energy intensive, artificial intelligence systems like speech- or facial-recognition programs simply gobble up power.MIT, however, has a solution: Researchers developed a special-purpose chip that increases the speed of neural network computations while reducing battery consumption.Capable of operating three to seven times faster than its predecessors, the chip cuts down on energy expenditure by 95 percent, making it more efficient for running locally on smartphones or household appliances.The general processor model, as described by MIT graduate student Avishek Biswas, features memory in one part of the chip and a processor in another. Data then moves back and forth between the two, devouring energy faster than you can say, “Do you have a phone charger?”“But the computation these algorithms do can be simplified to one specific operation, called the dot product,” lead chip developer Biswas said in a statement. “Our approach was: Can we implement this dot-product functionality inside the memory so that you don’t need to transfer this data back and forth?”As it turns out, yes.Without wading into the complicated science behind the technology, think about how the brain works: signals travel along multiple neurons to meet at a “synapse,” or a gap between bundles of neurons. Neural networks work much the same way—only with data traveling between nodes instead of neurons.This new chip improves efficiency by replicating the brain more faithfully.Biswas presented a paper—co-authored by professor Anantha Chandrakasan, dean of MIT’s School of Engineering—on the topic during this week’s International Solid State Circuits Conference in San Francisco.“The results show impressive specifications for the energy-efficient implementation of convolution operations with memory arrays,” Dario Gil, vice president of artificial intelligence at IBM, added. “It certainly will open the possibility to employ more complex convolutional neural networks for image and video classifications in [the Internet of Things] in the future.”center_img Stay on targetlast_img read more

The Weirdest Deals of Amazon Prime Day 2018

first_imgStay on target Clay LuberThis is another one where the name is more funny than anything else, but god how great would it be to be in a situation where someone is like “Man, we’ve really gotta lube up this dry clay” and then you pull this out like “I’ve got you.” Color Matching Egg SetThis holiday’s hottest new kids toy is… fake eggs! Crack them open to reveal pretty colors, not a goopy salmonella mess. They even come in the same carton dozen as eggs for grown-ups. It’s Amazon Prime Day! Still! Yes, everyone’s favorite #brand holiday since May the 4th Be With You is back for 36 hours of online deals on countless items in Amazon’s store. And since Amazon sells just about everything you’re bound to find a deal on something you like. Play your part in lining Jeff Bezos’s thicc labor-busting pockets. With so much to choose from, you’re going to need help finding the deals you want. Fortunately, we’ve got plenty of posts pointing you towards good Amazon Prime Day Deals.However, if you’re looking for “great” Amazon Prime Day Deals, you’re already reading the right article. Because Prime Day has so many savings on so many items, naturally some of the deals are bound to be a little… strange. It’s just what’s going to happen when you go deep enough down the Amazon rabbit hole. Just like last year, Amazon Prime Day has boatloads of deals on bizarre items. Here are just a handful.Poo-Pourri Before-You-Go Toilet SprayIf you’re so deeply ashamed that the natural act of going to the bathroom usually leaves behind an unpleasant smell, free yourself from that part of your humanity with this royal-scented toilet spray. NutPods CreamerThere’s totally nothing wrong for using a vegetarian substitute to dairy milk for your coffee. But man they’re really out here with a product called NutPods Creamer, huh. Prime Day 2019: Best Gaming Deals on AmazonPrime Day 2019: Best Deals on Toys and Entertainment Neon PaintProbably the coolest item here, this self-luminous paints lights up anything you smear it one with a phosphorescent glow in the dark. It comes in a variety of colors and is perfect for splattering on the walls of your “thinking cave.”Let us know what you like about Geek by taking our survey. Dissidia Final Fantasy NTPrime Day of course has a ton of great deals of video games, but the weirdest we’ve seen is for Dissidia Final Fantasy NT, the latest mediocre entry in the truly bizarre series of Final Fantasy pseudo-fighting games. This one doesn’t even have Prompto in it. Women’s Medical ScrubsWe’re no doctors, but is Amazon the place you’d be going to for new medical scrubs if you’re an actual nurse? Or is it the place you go to when you need to look like an actual nurse because of… reasons. DUDE Wipes Flushable Wet WipesHygiene is important for everyone. But sometimes, as a man, you need to clean yourself the way only a man can, bro. That’s you why need Dude Wipes, wipes for dudes. SmartyKat Hot Pursuit Cat Toy Concealed Motion ToyWe’re all for keeping your pet healthy and active with different toys, but just something about amusing your cat with coldly spinning robot prey seems like training it to become some kind of assassin. One Gallon of Popcorn OilListen, in an ideal world all of our popcorn would be made with fresh organic corn, butter, love, and all of the other hippie stuff you can rattle off. But when you need lots of popcorn fast, you’re going to have to go with gallons of flavored Butter Burst oil no questions asked. Socker Bopper Power BagHere’s a real blast from the 1990s past. Remember Socker Boppers and how they were more fun than a pillow fight? Well now you can rediscover that for yourself by pummelling this weird inflatable orange obelisk.last_img read more

State Highway 502 hits expansion milestone

first_imgThe ongoing expansion of state Highway 502 between Interstate 5 and Battle Ground marked a milestone recently as crews began paving a stretch of the roadway, according to the Washington State Department of Transportation.Much of the activity this week will focus on the area west of Dollars Corner as workers put down new pavement between Northeast 72nd and 50th avenues, said WSDOT area engineer Chris Tams. The highway in that area will shift to a new alignment as soon as next week, he said.Crews also say they hope to pave as far west as Northeast 15th Avenue in the coming weeks if the weather stays dry, Tams said.“We’re marching our way toward the winter shutdown for the project, which arrives Oct. 15,” he said. After that, WSDOT construction crews will do little work on the site until May.Workers are expanding the highway to four lanes. Orange fencing along the corridor already marks the widened right of way to make room for the roadway.The bulk of the expansion and paving work is slated for next year, Tams said. The entire $85 million project will wrap up in 2016, according to WSDOT.last_img read more

GCI Wrapping Up Upgrade Project On The Kenai Peninsula

first_imgGCI is upgrading two towers near Summit Lake and Cooper Mountain later this fall that are not accessible by road. Crews and approximately 10,000 pounds of equipment and materials will be delivered to the sites by helicopter. Though the areas served by this project target some of the state’s busiest stretches of highway, delivering connectivity still requires going off the beaten path. Facebook0TwitterEmailPrintFriendly分享GCI is working on wrapping a $6.3 million LTE wireless expansion project on the Kenai Peninsula. The project involves more than 30 GCI technicians and engineers and includes upgrades at 43 sites throughout the Peninsula and the construction of two new towers that will bring expanded wireless and data coverage between Sterling and Soldotna as well as the Homer Spit.center_img Greg Klimek, vice president, GCI Wireless Marketing: “Investing in the Kenai Peninsula has been a high priority for GCI and we are pleased that the project is in the final stretch. Upgrades to 43 sites across the peninsula means move coverage over a wider area and faster speeds and service for our customers.” Upgrades will bring LTE data coverage and improved voice service along additional sections of the Seward and Sterling Highways.last_img read more

Goodenough New CEO of Summit Business Media

first_imgRELATED VIDEO: Q+A with GoodenoughSummit Business Media has promoted president Andy Goodenough to CEO. Goodenough replaces publishing veteran William R. Reilly, who will continue to serve as chairman and remains an investor in the company. “Going into the formation of Summit in November 2006, my plan was to drive the initial growth of the business for several years as CEO, and then step back to the chairman role,” Reilly said in a statement. Prior to joining Summit, Reilly served as chairman and CEO of F&W Publications (now F+W Media); as founder, chairman and CEO of Primedia; and as president of the Macmillan Publishing Company. Goodenough has more than 30 years of experience in b-to-b media. He served as president of the USB Corporation and as publisher of U.S. Banker before its sale to Thomson Media in 1993. He then served as president of Thomson’s banking publishing/conferences group and launched Highline Media in 2003, which was acquired as part of the formation of Summit in 2006.Earlier this month, Summitpurchased WiesnerMedia’s Denver-based Financial Group, marking the company’s seventh acquisition since its launch. Summit’s current portfolio includes 25 magazines, 150 reference books and electronic products, and 100 live events.last_img read more

Alaska News Nightly Wednesday Feb 8 2017

first_imgStories are posted on the APRN news page. You can subscribe to APRN’s newsfeeds via email, podcast and RSS. Follow us on Facebook at alaskapublic.org and on Twitter @aprnListen nowUniversity of Alaska president addresses lawmakers after no-confidence votesCaroline Halter, KTOO – JuneauThe faculty senate at the University of Alaska Fairbanks voted no-confidence in University President Jim Johnsen’s leadership on Monday, Feb. 6. The vote followed the same move by the Anchorage faculty Jan. 13. Johnsen addressed the issue Jan. 8 at a meeting of the Senate Education Committee.Chief justice urges lawmakers to collaborate and compromiseAndrew Kitchenman, KTOO – JuneauState Supreme Court Chief Justice Craig Stowers said Alaska’s courts are leading the way in cutting costs in a way that doesn’t threaten vital services.Legislative uproar erupts during discussion of oil tax creditsRashah McChesney, Alaska’s Energy Desk – JuneauFor a few minutes today, the State House floor started to sound like Britain’s House of Commons. The chaos erupted after members of the House Resources committee released their much anticipated bill proposing another round of oil tax credit reforms.Dakota Access Pipeline builder says they will resume construction as soon as possibleAssociated PressThe company building the Dakota Access oil pipeline says it plans to resume work immediately to finish the project.Presbyterian Church formally apologizes to North Slope Natives for denouncing cultureLori Townsend, Alaska Public Media – AnchorageIn Utqiagvik, an apology from the head of the Presbyterian Church will be offered to the Alaska Native people of the North Slope. The idea is to start a process of healing by acknowledging that the Church, however well intended, was wrong, when it denounced the cultures of Native people, both in Alaska and across the nation.Rep. Young named ‘chairman emeritus,’ loses power of the gavelLiz Ruskin, Alaska Public Media – Washington D.C.For most of the past 20 years, Alaska Congressman Don Young has been either a committee or subcommittee chairman. But now he wields no gavel.Fairbanks School District eliminates graduate testsRobert Hannon, KUAC – FairbanksFairbanks High School seniors scheduled to graduate this spring won’t need to take a college entrance exam. At its meeting last night, the Fairbanks North Star Borough School Board revamped its graduation requirements. The board also heard from some educators unhappy with the district’s new personalized learning model.New play tells stories of homelessness, inspires actionAnne Hillman, Alaska Public Media – AnchorageA new play showing in Anchorage this weekend tells the stories of homelessness from around the state. But for the writers and actors, “Home But Not Less” isn’t a story about sadness. It’s about understanding.Fishermen forced to share pounds in herring fisheryAngela Denning, KFSK – PetersburgNew restrictions are being put into place for the upcoming spawn-on-kelp herring fishery in Southeast Alaska to address a declining population. For the first time, fishermen are required to share spawning structures with several others.last_img read more

This Juneau homeowners energy savings afforded the ultimate way to beat the

first_imgTraci Heaton points a remote up at her wall-mounted heat pump. (Photo by Elizabeth Jenkins/Alaska’s Energy Desk)Hundreds of Juneau homeowners will stay warm this winter using an improved technology. Heat pumps are nothing new. But upgrades over the past 30 years have made the systems a lot more reliable. Now local installers are racing to keep up with growing demand.Listen nowInside Traci Heaton’s home, next to a pair of snowshoes hanging on the wall, is a white rectangular box.“At first I really didn’t like it,” Heaton said. “But now it just blends in with the house.”Heaton had this wall-mounted air source heat pump installed about a year ago. She used to keep her house warm with a combination of electric baseboard heating, a wood pellet and oil stove. But these days, the $10,000 heat pumps are mostly doing the job. Though, she says there are times when the backups come in handy.To pay for the heat pumps, Heaton tapped into a state program that awarded homeowners money for efficiency upgrades. That program was cut in 2016 because of Alaska’s budget deficit. Heaton said that’s too bad, because installing them has meant big savings.“They have cut our heat bill down dramatically,” Heaton said.Last winter, Heaton’s monthly bill fell by half. The savings can be very different from home to home. Still, there’s growing demand for heat pumps in Juneau and for companies that do the installations, this is a busy time of year.Northern Refrigeration opened in 2013 and since then, owner John Howard said his business has installed around 300 heat pumps.  He said the fervor over heat pumps spread quickly. By his second year in business, he was doing three  or four estimates every week.“It was crazy,” Howard said.The capital city, like the rest of region, doesn’t have a natural gas distributor. So it’s common to burn heating fuel or rely on standard electric heating to stay warm.Heat pumps first came on the market in the 1970’s and 80’s as an option for regions with a temperate climate. There are a lot of different types; everything from air source to the more expensive ground source or geothermal.But Howard said the older generation of heat pumps gave the technology a bad rap.“They’re extremely noisy, they’re big and they cost a lot of money to operate,” Howard said.Howard said today, the units run a lot more efficiently. If you’ve eaten ice cream you probably already know how the science works. He explains it to his clients like this: When you bring a gallon of ice cream home, maybe it sat in your car too long and melted a bit.“Well, you put it in the freezer and pull it out the next day and it’s hard again,” Howard said.Howard said your freezer is actually pulling the heat out of the ice cream — making it cold. Similarly, heat pumps can pull warmth from the ground or air. That warm air might not be detectable to the human touch, but it’s there.The heat pumps themselves run off of electricity. And as more people get them, Juneau’s local utility is monitoring the electric demand closely. The utility says it hasn’t noticed a large impact yet since the past few winters have been normal to mild. But it is keeping tabs, as fewer people fire up their stoves.Traci Heaton, from before, says overall she’s happy with the technology.“I thought I’d take out the baseboard heaters,” Heaton said. “But we have had to use them a couple of times.”John Howard didn’t install Heaton’s unit. He said there can be some sizing issues with heat pumps but it is possible to find the right fit.Even so, Heaton said using heat pumps saved her about $250 dollars a month. With the extra money, she was finally able to beat the chill. She took her family on winter trip to Mexico.last_img read more

Reliance Jio may help RCom to pay spectrum fee of Rs 5384

first_imgMukesh Ambani’s Reliance Jio may help Anil Ambani-led Reliance Communications (RCom) in paying up a liberalisation fee of Rs 5,384 crore for sharing its 800 MHz spectrum in 16 circles. The spectrum liberalisation fee is collected from telecom operators for all the circles where airwaves were not auctioned.The department of telecommunications (DoT) had, on 22 December, also asked RCom to pay a one-time spectrum usage charge of Rs 1,596 crore within a month, sources told Business Standard.”The company will submit a bank guarantee equal to the one-time spectrum usage charge of Rs 1,596 crore as the matter is sub judice,” the sources said.RCom, India’s fourth largest telecom operator by subscribers, plans to partner with Reliance Jio to offer 4G services. In September last year, RCom chairman Anil Ambani had said the company would enter into a “strategic partnership” with Reliance Jio for 4G spectrum sharing-cum-trading.RJio possesses 2,300 MHz in all circles, 1,800 MHz in 18 circles and 850 MHz in 10 circles. But, 800 MHz band provides good connectivity indoors and offers seamless voice services through Voice over LTE (VoLTE). The benefits of having 800 MHz spectrum has made the deal “critical” to roll out 4G services. The tie-up will enable RJio to provide 4G services over the 800 MHz band across 10 circles.On the other hand, the partnership will also be beneficial to RCom, as it can use Jio’s 4G network in the 10 circles without incurring any “incremental capex cost”.By the end of September, RCom had a huge debt load of Rs 39,800 crore, which it plans to reduce to Rs 20,000 crore by selling its tower business Reliance Infratel.Meanwhile, the merger of RCom and Sistema Shyam Teleservices (SSTL), which provides telecom services through MTS brand, will enable the former to gain access to liberalised 800 MHz spectrum in eight circles. MTS has a strong presence in non-voice segment and derives nearly half of its total revenues from the segment.Analysts said that increased competition in the data services will likely lead to further increase in capital expenditure by the operators to keep growth intact. Telecom companies are also expected to purchase spectrum from others at a higher price, resulting in increased debt levels.In November last year, Idea Cellular had agreed to buy spectrum for two circles — Gujarat and Uttar Pradesh (West) — from Videocon for Rs 3,310 crore, which is double the amount paid to acquire spectrum for those circles in the March 2015 auction.last_img read more

Do it like the Koreans do

first_imgKorean Cultural Centre presents 2nd Pan India K-POP Contest, the festival invites all the K- POP lovers around India to join the global competition and celebration of Korean popular song and dance. K-POP is a part of celebrations of Indo-Korean 40th Diplomatic year. Finalists from the 13 countries will be invited to Korea to perform in the Grand Finale, which will be held in Gangwon, South Korea on 28 September. The event is going to be held on 17 August from 6 pm to 8:30 pm.  Also Read – ‘Playing Jojo was emotionally exhausting’K-POP Contest provides a platform for all to prove their mettle in Korean singing and dancing. K-POP is a musical genre originally from South Korea that is characterised by a wide variety of audiovisual elements, the term is more often used in a narrower sense to describe a modern form of South Korean pop music covering mostly dance-pop, pop ballad, electronic, rock, hip-hop, R&B and the like.The jury members of the 2013 festivals are Kim Kum Pyoung, the Director of Korean Cultural Centre India; Sanjeev Bhargava, Aleksandra Michelska Singh, Dancer, Natya Nectar Dance Academy and Sangwon Donald Kwag, Marketing Head, Star CJ. Last year Paul 5 from Timarpur slums, a 7 member team were announced winners from India.  Winning team from the semi-finals at New Delhi will get an all expenses paid trip to Korea to participate at the finals in Wonju. Wonju is the most populous city in Gangwon province, South Korea with rich historical and cultural significance.  The festival has a lot more to offer to its audiences as well.last_img read more

Bringing the village to life

first_imgMithilanchal Chitraleela – an exhibition of select paintings by village artists of Madhubani is being organised by Lokatma at The Ashok Hotel. The exhibition features exquisite paintings on handmade paper, cloth and canvas. Forms are outlined freehand, using a paintbrush or bamboo pen with/without a metal nib. A variety of vibrant and muted colours, innovatively combining plant/mineral extracts, gum, fabric paints and bazaar powders are used. While each painting expresses individual creativity, all celebrate the Mithilanchal world-view and are organised around five related themes: Devi-Devata: Vedic, Puranic and folk gods and goddesses; Prakriti: Nature as seen in Mithilanchal; Dehaati Jivan: Village Life in the Region; Shubh Parv: Traditional Social and Religious Celebrations; Mahakavya Prasang: Scenes from Four Epic Tales – the Ramayana, the Mahabharata, the Lorikayana and the Legend of Raja Salhesh.WHERE: The Ashok Hotel, ChanakyapuriWHEN: 9 to 18 August, 10.30 am to 7.30 pmlast_img read more

Hidden Sketches Underneath Da Vinci Masterpiece Revealed After 500 Years

first_imgSketches hidden underneath a famous painting by Da Vinci that hangs in London’s National Gallery, The Virgin On The Rocks, recently revealed secret treasures for art historians. It was fairly common in the artist’s day for painters to draw sketches on the canvass before committing paint to it, but in this case, those sketches have shown that he changed his mind about the positioning of his subjects, the Virgin Mary and Christ. Leonardo da Vinci, The Virgin of the Rocks (1491–99, 1506–08). Photo courtesy of the National Gallery, London.How the sketches were revealed was explained by gallery officials in a press release sent out in mid-August: “These new images were found because the drawings were made in a material that contained some zinc, so it could be seen in the macro-xray fluorescent maps (MAX-RF) showing where this chemical element was present, and also through new, infrared and hyper-spectral imaging.” The gallery was examining the painting as it prepares to launch a new Da Vinci exhibit in November.AdChoices广告inRead invented by TeadsThe lines show the sketches for the first composition. Photo courtesy of the National Gallery, London.Notable changes revealed by the sketches that Da Vinci first considered using were to how the subjects, Mary and her infant child, the baby Jesus, as well as a protective angel who hovers nearby. The gallery explained: “The angle of the infant Christ’s head was changed so that he was seen in profile, while some parts of the angel’s curly hair were removed.Related Video:“In the abandoned composition,” the press release continued, “both figures are positioned higher up, while the angel, facing out, is looking down on the infant Christ with what appears to be a much tighter embrace.”Detail from imaging data of Leonardo’s painting revealing the drawing for the angel and baby of the first composition. Photo courtesy of The National Gallery, LondonThe gallery’s exhibit, entitled “Leonardo: Experience A Masterpiece,” runs from November 9th until January, 2020. It will explore The Virgin On The Rocks in four ways; light and shadow, how the artist was feeling and thinking when he painted it, and other unique approaches to the masterpiece. The just-revealed compositions will also be shown to viewers. The painting itself was done twice by Da Vinci, once in 1483, which hangs in the Louvre in Paris, and the one at the National Gallery, which experts say was painted between 1495 and 1508.Self-sketch of Leonardo da VinciDa Vinci is considered one of the finest paintings of all time, though relatively few (about 20) of his painting still exist. They are mostly in museums, at least the framed paintings, in Europe, in Italy as well as London and Paris. His two most famous paintings, perhaps, are The Last Supper, painted on a wall at the Santa Maria delle Grazie, and the Mona Lisa, which hangs at the Louvre and is seen by approximately six million people per year.Unlike many artists of his time and of course even today, Da Vinci was not a cliche in the “starving artist” mode; he had many clients, including royals and church officials. The Mona Lisa, art historians say, was Da Vinci’s favorite painting; he continued adding touches and minor changes to it until his death in 1519, at the age of 57.Mona Lisa, by Leonardo da VinciWhen he died, he left the painting to his assistant, who then sold it to the king of France. It was in the collection of the French royal family for years, then sent to the Louvre after the French Revolution. It is perhaps the most-discussed and studied painting in the world, because of the subject’s mysterious smile, and her identity. Like so many matters in today’s conspiracy-obsessed world, some thought her to be based solely on Da Vinci’s imagination, or – unbelievably – a man in drag. What most experts believe to be the truth is much less provocative; his subject was the wife of a wealthy silk merchant, who was a patron of Da Vinci.Related Article: Leonardo Da Vinci’s Only Finished Sculpture Finally IdentifiedNot all of his painting are subject to such silly rumor and speculation, thankfully, but all are admired, treasured and even loved by art experts and the general public alike. The exhibit at the National Gallery will offer viewers the chance to truly examine, experience and understand one of Da Vinci’s greatest works, up close and personal, the way all great art is meant to be experienced.last_img read more

Pittsburgh Assistant Joey Porter will coach this weekend following bar arrest

first_img Advertisement Former Steelers linebacker and current assistant coach Joey Porter was cleared by the team to coach this weekend following his arrest for an alleged altercation outside of a Pittsburgh bar following last weekend’s playoff game against the Dolphins.Porter was placed on leave by the team following the arrest, and many speculated that he would be fired or face further discipline from the team. He was initially charged with assault, but yesterday it was announced by the Allegheny County District Attorney’s office that those charges would be dropped. Porter still faces public drunkenness and disorderly conduct charges.The team released a statement regarding the decision to reinstate Porter for Sundays’ Divisional Round playoff game in Kansas City.#Steelers announce LB coach Joey Porter will return to the coaching staff, as expected. The statement from Art Rooney II pic.twitter.com/hJWXf1RTsT— Ian Rapoport (@RapSheet) January 13, 2017 Here’s the video of Porter’s arrest from TMZ.last_img read more