Automotive: Mazzanti moves closer to production on its suicidal Evantra supercar

It didn't take long for the newly formed Mazzanti Automobili to release its first design, a collaboration between Luca and designer Zsolt Tarnok first dubbed "Mugello," before being renamed "Evantra." Mazzanti first showed the supercar in 2011, and since then it has popped up every now and again, including as a prototype at last year's Top Marques Monaco. At this year's show earlier this month, it was introduced as a production-ready design.

We've come to treat terms like "production ready" and "specs" rather loosely when it comes to single-digit-run supercars from small start-ups. Such cars have a way of making big debuts and then disappearing for years, sometimes never to return.

With the Evantra extra looseness is warranted because the 01 chassis car that was pranced out for Top Marques is still covered in black testing camouflage, with Mazzanti admitting that the camo is there for continued track testing. That sounds a lot like "close to ready" but not quite "finalized for production." Potato, potahto.

Fortunately, Mazzanti has spent much of the year ushering the ice-blue 00-chassis Evantra to testing and photo shoots, so we can have a proper look without the lackluster camo job getting in the way. Mazzanti explains that the car was styled to find a balance between the classic and the modern, and it's not hard to see the two themes hard at work.

The rolling, three-dimensional front fenders look as though a villain triggering a Tommy gun should be hanging out the window, while the voluptuous pontoons give way rather abruptly to sharp LED headlights and a front-end sliced and diced into geometrical vents. The neo-retro styling is even more apparent when you look at the aforementioned Antas V8, a car that tipped the balance in favor of classic over modern. The Evantra shows similar shapes, but with more restraint on the "retro" side.

Given Mazzanti's background in restoring Maseratis and Ferraris from the late 80s through the 2000s, the route of blending classic with modern is not all that surprising. What is surprising is that the Evantra design doesn't show a lot of the Italian curvaceousness that those marques bring to mind. Its harder, more masculine lines and features appear inspired by a different subset of European exotics, like the Pagani Zonda/Huayra and Spyker C8 Aileron.

The retro-modern body work is supported by a steel chassis and chrome-molybdenum roll cage. The curb weight needles in around 2,866 lb (1,300 kg) when the buyer opts for the carbon fiber Pro Body. A hand-formed aluminum body is also available.

Pushing that skin and bones is a 701-hp, 7.0-liter V8 mid engine working with a six-speed sequential transmission. A set of high-performance Continental 255/30 R20 front and 325/25 R20 rear tires put that engine muscle to the road. According to its spec sheet, the car reaches 62 mph (100 km/h) in 3.2 seconds, and the speedometer keeps cranking until 217 mph (350 km/h).

Some of the recent modifications that have been applied to Evantra chassis 01 include a new rear diffuser with variable inclination and a revamped Alcantara and Luxpel leather interior with carbon steering wheel and full-digital dashboard.

"Evantra V8 was not born to please everyone, instead to be herself and to generate emotions with her character and exclusivity," Luca Mazzanti states.

When the Evantra does become full-on production-ready, Mazzanti plans to build just five examples per year. Each model will be individually personalized to the buyer's tastes.

Source: Gizmag

Meet AltSchool, The Startup That Is Going To Reinvent Primary Education

Education is one of the last industries that is still going through massive change and disruption with the introduction of technology. In particular, we’ve seen the rise of iPads,  the introduction of learning technologies and educational games enter the classroom, but we haven’t actually seen the physical classroom change for children. AltSchool, a new startup aiming to transform K-8 education and schools, is hoping to change that.

Founded by Max Ventilla, AltSchool is a new school that focuses on child-centered education supported by a technology platform. The school is also predicated on the belief that most students vary in skill level in subjects like math, reading, science, art, physical education and social studies, and “grades” are confining. Enter highly customized “playlists” that serve as a personalized curriculum for each child.

    Child-centered education and micro-schools supported by a technology platform is his plan to disrupt education, and this serves as the foundation for AltSchool. The school is also predicated on the belief that most students vary in skill level in subjects like math, reading, science, art, physical education and social studies, and “grades” are confining. Most children learn at different levels, so they need specialized attention.

Source: TechCrunch

Metals Drop as Asia Stocks Swing Before Data; Won Gains

Copper fell 0.3 percent by 9:38 a.m. in Hong Kong, set for a 2.1 percent slide this week, while zinc, silver and platinum lost at least 0.2 percent. The MSCI Asia Pacific Index swung between gains and losses of 0.1 percent. Standard & Poor’s 500 Index futures rose less than 0.1 percent. The won climbed 0.2 percent from April 30. Soybeans sank 0.6 percent after tumbling 3.4 percent yesterday.

A report today will probably show the biggest increase in U.S. nonfarm payrolls since November, according to economists. Private data on factory output from India to the euro zone is due today, as markets in mainland Chinaremain shut. Most Asian markets were closed for May Day yesterday, when a gauge of Chinese manufacturing rose less than economists projected.

U.S. employers probably added 218,000 workers to payrolls in April, up from an increase of 192,000 in March, according to the median estimate in a Bloomberg survey of 94 economists. The Federal Reserve, which announced its fourth straight $10 billion cut to stimulatory bond buying April 30, says the job market in the world’s largest economy is improving.

Asian Stocks

Japan’s Topix index fell 0.2 percent, paring its weekly gain to 0.9 percent as more than 200 members released earnings. Hong Kong’s Hang Seng Index rose 0.1 percent as it reopened from yesterday’s holiday. The MSCI Asia Pacific Index is little changed on the week.

South Korean markets were closed yesterday, when the country reported a year-on-year inflation rate of 1.5 percent for April compared with 1.3 percent in March. A separate report showed growth in exports and imports exceeded economists’ projections, with exports surging 9 percent. HSBC Holdings Plc issues manufacturing PMIs for Taiwan, Vietnam, Indonesia and India today, while Markit Economics Ltd. releases a similar gauge for the euro zone, Germany and France.

The won climbed to 1,031.24 per dollar, set for a 1 percent advance in the week, the best performance among 10 Asian currencies tracked by Bloomberg.

The yen, regarded as a haven investment, is headed for a weekly decline of 0.2 percent and traded little changed today at 102.36 per dollar. Japan reported a bigger-than-expected increase in household spending today while the nation’s jobless rate held at 3.6 percent in March.

Source: Bloomberg

Real Estate: The Next Global 'It' Cities?

         The WSJ reports, "In the global luxury real-estate scene, is Lagos poised to be the next big thing?

The Nigerian city is among a list of 12 up-and-coming luxury markets around the globe, according to a new report from Savills  World Research, in cooperation with design firm Candy & Candy and Deutsche Asset and Wealth Management.

The other cities are Beirut, Cape Town, Chennai, Chicago, Dublin, Istanbul, Jakarta, Melbourne, Miami, Panama City and Tel Aviv. The most expensive city is Tel Aviv, where an entry-level, two-bedroom luxury apartment typically cost $1.45 million in March; the least expensive was India's Chennai, where a luxury two-bedroom cost around $160,000.

The report considered economic factors, such as job-market potential and gross domestic product, but also a number of qualitative aspects, like cultural attractions and the presence of English as a first or second language.

In 2013, there were nearly 200,000 people world-wide with wealth exceeding $30 million, according to the Wealth-X & UBS World Ultra Wealth Report. As prices continue to rise in prime markets like New York, London and Hong Kong, Yolande Barnes, director of Savills World Research, predicts that luxury buyers will increasingly look to less mature markets for better value".

"The cities run the gamut, from well-established markets like Melbourne and Tel Aviv, which have yet to reach their full investment potential, the report notes, to developing markets like Chennai and Lagos, which may have larger returns but more risk for buyers. "You have to look at the political risk," said Nick Candy, CEO of Candy & Candy, noting that unpredictable currency exchange and ownership hurdles for foreigners in some markets might dissuade some buyers.

In Tel Aviv, the Manhattan Tower attracts cosmopolitan buyers, says Tomer Fridman, CEO of Israel Sotheby's International Realty. "Ten to 15 years ago, there wasn't an international product," he said. Today, the 10,000-square-foot penthouse in the tower is listed for $25 million. He credits the city's thriving tech industry and interest from Europeans, among others, for the surge in foreign buying.

Other markets on the list are similar to Panama City. The Central American hub is poised for rapid growth thanks to a mix of foreign investment and government policies that benefit international buyers, said Andrea Kam, a consultant for real-estate brokerage Bonavivi in Panama City.

The global recession hit some markets on the list particularly hard, but the report says home prices are rebounding. In Dublin, for example, inventory is tightening and demand is rising, said Graham Murray, head of residential for Savills in Dublin".

A Building Boom in Bogotá, Colombia.

         The WSJ reports,"architect Richard Meier's new residential building will feature his signature jutting planes and surfaces carved from white steel and glass. The 37 apartments, starting at about $2 million, are 73% sold even though ground won't be broken until June. The project, named Vitrvm, and the buzz surrounding it, is what you might expect from the designer of L.A.'s Getty Center except for one thing: It is in Bogotá, Colombia".

"Why not Bogotá?" asked Mr. Meier. "The economy is strong and there are people that want quality buildings to live and work in."

The real-estate market of Bogotá, population about 8 million, tells a more positive story today than what some might expect from the capital, which has a history of political and drug-related violence. Prices per square foot for new construction have more than tripled from 2003 to 2013, says a report published by Colombia's Bank of the Republic. Existing-home prices also have risen over the decade.

New buildings that have top-notch amenities and that are listed above $370 a square foot have sprouted around the city, bringing rare amenities such as gyms, media rooms, and tennis or squash courts; a few top buildings feature conference rooms for executive meetings. International real-estate firms, such as Engel & Völkers, a Germany-based luxury brokerage with offices in 38 countries, are setting up shop in the city.

Meanwhile, the kidnappings that gave rise to Colombia's fearsome reputation fell by more than 90% between 2002 and 2009; there were 43 kidnappings last year in the city, states a report by the U.S. Department of State, citing Colombian government figures. Peace talks between the government and guerrillas aim to put a cap on a 50-year conflict, local officials say.

One developer, Neos Group, recently has completed two high-end residential buildings in the city and has four more slated to be finished by 2016. Sales have been brisk at $400 to $600 a square foot, said Neos sales and marketing director Valentina Grajales, who moved to Colombia last year after 10 years selling real estate in Miami.

She is encouraging Neos to use Thermador and Teka appliances and Venetian marble, based on their popularity in high-end condos in Miami. The company also is focused on designing bigger bathrooms and kitchens for wider appeal, she said.

Mr. Seda, of Royal Property Group, who moved from Los Angeles to Colombia in 2007, is securing permits to build 60 apartments and 80 hotel rooms as part of Charlee Hotel, a project in which individual investors will own most of the hotel rooms. An important client base for him is executives who work for multinational corporations that have recently established headquarters there, he said. In the past few years, international companies such as consultant A.T. Kearney, HRG Logistics andFacebook  have opened offices in Bogotá.

"Our thought process is all these companies need somewhere to put their Latin American headquarters, so they are buying offices and residential," Mr. Seda said.

Real-estate brokers and developers say most of the demand for luxury housing is from Colombians. All of the buyers so far of the Richard Meier building are locals, said partner and head of sales José Luis Caleya, of developer Icono Urbano. But Americans, typically with some tie to Colombia such as a Colombian spouse, also are exploring the market, said Sam Miller, managing director of Colombia International Real Estate, a Bogotá-based consultancy. Mauricio Jaimes, founder of Buy Colombia Realty, which works exclusively with foreign investors, said his client base is 60% American, 30% European and 10% Middle Eastern.

Snapchat Adds Ephemeral Text Chat And Video Calls

Snapchat is slowly adding features on top of its highly successful ephemeral messaging platform. Today’s two new features are a good old chat interface and a new FaceTime-like video calling feature. Text messages could greatly change the nature of the app.

While ephemeral photos are a great way to send something funny and start a conversation with your friends, many users sent multiple snaps back and forth just to chat. You ended up taking a crappy photo and adding a caption. The fact that it was ephemeral and limited when it comes to the number of characters were quite charming, but sometimes infuriating.

But all of this is past now. You can swipe right on a friend’s name in your Snapchat inbox to enter a new chat screen. It’s a regular chatting interface. You can write and send text messages, send snaps, and send photos or videos from your camera roll. Alas, you won’t find any sticker.

But there is a new button as well at the bottom of the screen. Whenever it turns blue, it means that he or she is currently in the chat screen, reading your messages. If you hit the button, you will start a call. If the other person hits the button too, you will see both ends of the calls at the same time.

Just like when you see a snap, you need to maintain your finger on the screen to keep the video call active on your end. Below your finger, you will see a thumbnail of your camera. The rest of the screen is filled with your friend’s face. You can remove your thumb, and you will only see your friend without sharing your camera.

Source: TechCrunch

Singapore minister Teo Ser Luck envisions Asia as the next Silicon Valley (Startup Asia preview)

We’re just a week away from the opening of our Startup Asia Singapore 2014, which is on May 7 and 8. The conference opens with a reminder of the big picture behind the toiling of so many entrepreneurs in the region – about building up Asia to be a tech powerhouse, to be the next Silicon Valley. Teo Ser Luck, Singapore’s Minister of State for Trade and Industry, will present the opening keynote entitled ‘Why Asia Can Be The Next Silicon Valley’. Since taking that ministerial post in 2011, Mr. Teo has been actively involved in Singapore’s startup ecosystem, and no doubt he’ll have choice words about Singapore’s role in Asia’s tech-oriented future. While listening to the keynote, you might like to remember where Asia stands in terms of tech right now. Asia’s ecommerce market is worth $525.5 billion this year; the continent has 390 million active users of Facebook; and the region is the future of the mobile internet. That’s the landscape that most of Asia’s startups launch into, and it’s one that increasingly serves as a launchpad for local startups into the rest of the world.

Source: TECHINASIA

Vine Launches A Six-Second YouTube

When Vine first launched on the web, all you could do was view your stream and check out profiles for individual users. The desktop version came with TV Mode, too, which was admittedly addictive with its constant stream of full-screen content.

But today Vine is going big on the web, bringing a number of the navigation and discovery features you’re used to in the app straight to your desktop. Plus, all of the content is accessible to anyone on the web, with no sign-in required.

Alongside your Vine feed and user profile streams, Vine will now show a featured section that includes Editors Picks, cool playlists, and special featured videos.

You’ll also have access to channels, trending tags, and a popular page, just as you do in the app.

Perhaps more importantly, users don’t have to be logged in to Vine on the web to surf through these channels or featured Vine videos. Previously, to use Vine on the web, you had to be signed in or hunt down the URL for a user profile. Now, simply hitting up Vine.co will give you access to all of the best content on Vine, complete with TV mode, which plays them one after the other in full-screen.

This is a refreshing update considering that most mobile-first companies have limited and poorly designed web counterparts to keep people active in the main (mobile) experience. Instagram.com, with its limited feature set and crappy performance, is perhaps the most shameful example.

The future of Vine as it exists within Twitter’s long-term plan remains unclear. Since launching over a year ago, two of the co-founders have left the company, but it seems that the app continues to enjoy an active user base. This move, however, is a clearer step away from competing with Instagram on a mobile consumption level and focusing more on how mobile video creation and true video consumption play into each other.

In a way, Vine is inching closer and closer to being a YouTube competitor, where users can create short videos on mobile and yet still experience all the wonders of the laid-back YouTube-style consumption experience.

To be perfectly honest, video creation nor consumption is where it needs to be for it to take off in the way that mobile photos have, and part of the problem is inherent in video itself. A photo requires perfection or correctness or whatever for a single moment in time, and can be enhanced beyond that. Video, however, requires that perfection or correctness to extend for seconds and seconds.

A lot more talent, creativity, and attention to detail goes into creating an enjoyable video, and just as Twitter did with its own product, the company has used restriction to force quality content out of its users. Vine actually stands a chance at being the place where we finally enter into a world of mobile video immersion and addiction, and herding people over to the web to consume is a surprisingly smart way to start.

To check out the new Vine.co in all its glory, head on over by clicking here. Though, be forewarned, it looks like it might not be up and running quite yet.

Source: TechCrunch

LINE Buddies Up with Wandoujia, Bidding Farewell to Qihoo 360

Chinese mobile search service Wandoujia announced today it has partnered with LINE, which will oversee the services and marketing activities of the Korean messaging app in Chinese mainland.

In this cooperation, Wandoujia will provide technical supports to LINE’s services in China and the two companies will strengthen the localized features of LINE by integrating the brands and platform resources of both parties.

LINE entered Chinese market in 2012 through a one-year contract with Qihoo 360, which is responsible for promotion and operation of LINE’s services in local market. After announcing this tie-up, LINE expanded its cooperation with other partners like Baidu, 91, Alibaba.

It is not surprising for us to see the cooperation between LINE and Wandoujia, since the two parties has already kicked off partnership in September last year. Wandoujia, as an app distribution platform, shares similar target users with LINE. Back then, LINE said they will not suspend cooperation with Qihoo 360, which is still an important, but not sole partner of LINE in China.

Qihoo 360 announced today it maintained part of the cooperations with LINE after their contact expired, but it is no longer the operator of LINE’s service in China.

To tap Chinese market, LINE also cooperated with Uniqlo, a Japanese casual wear brand also popular in China.

Source: TechNode

Xbox One to Enter Chinese Market This September, Finally

BesTV and Microsoft jointly announced today that they will introduce Microsoft’s flagship game console Xbox One into Chinese market this September. The news finally settles loads of buzzheated up since the establishment of a joint venture E-Home Entertainment Development Co., Ltd. between BesTV and Microsoft and the lifting of bans on game consoles imposed in 2000.

Xie Enwei, senior VP of Microsoft Grater China, is named as the general manager of Microsoft’s Xbox Department China. In addition, he will also in charge of the joint venture. E-Home Entertainment will invest in an innovation project, helping game developers to develop and distribute games based on Xbox One platform.

Microsoft has sold out over 5 million sets of Xbox Ones in 13 countries since its debut at the end of last year, making it the most successful product of Xbox Series, according to the company. Xbox One is sold for $499.99 yuan in US market. Although the two companies did not disclose the price of Xbox One in China, some media reported that it is priced at 4,999 yuan (around $798).

The Chinese gaming industry had 490 million users and saw 38% in total revenue in 2013. Trigger by the huge market potential and ease of regulation curbs, a lot of companies set their eyes on game console sector.

Huawei showed off its homegrown game console Tron at the beginning this year and planned to ship it at around 1,200 yuan this May. ZTE The9, a joint venture co-founded by ZTE and online game company The9, also released a similar game console Fun Box this March.

Source: TechNode

Alibaba Tmall Partners Ten Home Appliance Brands to Experiment with C2B

Tmall, the online business-to-customer marketplace of Alibaba Group, has reached partnership with ten Chinese home appliance brands to experiment with customer-to-business model on twelve production lines.

Tmall will offer sales data and consumer feedback generated from those brands’ stores so that they will be able to make improvements on or customize certain products. For instance, a specific function can be added to a product as requested for users aged 25-30. But since the number of users of this age group who’d possibly buy this custom edition must be much smaller than the total, the planned output shouldn’t be high.

It is expected those products will be sold at comparatively lower prices as there will be no distributors other than Tmall.

The first batch of products, ranging from traditional home electronics products to newly emerged gadgets such as digital media player, will land on Juhuasuan, the group-buying platform of Alibaba, on May 7, according to the company. The ten manufacturers include household names in China, Joyoung, Midea and Supor.

Source: TechNode

WSJ: Exxon Profit Drops on Refining Segment Weakness Earnings Easily Top Wall Street Estimates

      The WSJ reports "Exxon Mobil Corp.said its first-quarter earnings fell 4.2% as growth in its exploration and production business was offset by declines in its refining and chemicals segments.

Exxon Mobil reported a profit of $9.1 billion, or $2.10 a share, down from $9.5 billion, or $2.12 a share, a year earlier. Revenue decreased 1.5% to $106.77 billion.

Analysts polled by Thomson Reuters expected a per-share profit of $1.88 and revenue of $109.76 billion.

Earnings from its exploration-and-production business rose 11% to $7.8 billion, reflecting higher natural-gas price realizations. Production dropped 5.6% on an oil-equivalent basis from a year earlier.

Capital and exploration expenditures for the first quarter were $8.4 billion, down 28%.

Exxon's refining and marketing business reported that earnings declined 47% to $813 million on weaker margins, mostly in its refining business.

Chemical segment earnings fell 7.9% to $1.05 billion.

Share repurchases to reduce shares outstanding were $3 billion in the latest quarter.

The world's largest publicly traded oil company is also the largest natural gas producer in the U.S. since its $25 billion acquisition of XTO Energy Inc. in 2010. Exxon has added to its shale-gas assets through additional deals since then".

Europe looks to US for next steps on bank health checks

 Europe's banking watchdog has edged closer to the United States in a check up of its banks this year and is keen to go further still to increase its influence over how banks behave, including how much they pay staff or shareholders.

Previous European bank health checks since the financial crisis failed to restore confidence in an industry where many banks were rescued by taxpayers. But in the United States, regulators have been praised for stepping in early to recapitalise banks and they now have the clout to keep bank chiefs on their toes.

"What the U.S. has been able to do successfully is in 2009 people were looking for blood on the floor immediately and were focused on who passed and who failed," said Piers Haben, director of oversight at the European Banking Authority, which runs Europe's tests.

"They've managed to transform that so people are now much more focused on forward capital plans," he said. "It is now much more about 'what's your dividend policy?' or 'what's your bonus policy?' and 'what's your pathway?' That's a very important feat the U.S. has managed to achieve," Haben said at this week's Reuters Financial Regulation Summit.

The U.S. Federal Reserve has stepped in the way of big banks several times. This week it told Bank of America to suspend raising dividends and buying back shares after the country's second biggest bank miscalculated its capital, sending its shares tumbling.

Europe's latest test, unveiled on Tuesday, can force banks to raise equity to improve capital and also gives supervisors a bigger toolkit to deal with any weaklings.

European regulators have made several trips across the Atlantic to learn lessons from the more established U.S. process, and some have privately said they were surprised at the level of rigour there.

Europe could also learn from the more flexible approach to capital levels and testing in the United States, Christian Clausen, chief executive of Sweden's Nordea , said.

"They put in a lot of capital on day one and Europe didn't do that. And they put in a lot of restrictions and then lowered them, and have replaced it with a stress test regime. That is a smart way to do it, rather than keep raising the bar," Clausen said at the Reuters Summit.

When Europe's test results are released in October it is not expected to lead to a huge capital raising. [ID:nL6N0MZ0YQ] Analysts say Deutsche Bank may raise equity in advance of the results and some smaller banks may need cash.

Banks have already boosted capital by about 35 billion euros

($48.5 billion) and taken bigger provisions on loans in advance of the test, according to analysts at Morgan Stanley.

In Britain, where big banks will go through the European health check and also a parallel domestic test, the regulator can limit pay for shareholders and staff and even force banks to change executives. The EBA has said other national supervisors have extra powers, although it has declined to specify them.

With the European Central Bank taking over supervision of all euro zone banks there will be greater consistency on dealing with banks that fail, and the ECB is already forcing banks to assess the quality of assets before the health check starts.


PAST FLAWS

Europe's tests in 2009, 2010 and 2011 foundered as a disjointed political and regulatory landscape was exacerbated by economic crisis in many countries. Europe also tests a much bigger number of banks - 124 this year, compared with 30 in the United States.

The Fed's test, known as a comprehensive capital analysis and review (CCAR), has been criticised for lack of transparency on its methodology and its decisions can seem arbitrary.

The aim of the tests is to assess banks' ability to withstand recessions, spikes in unemployment, falls in house prices and other factors. The most adverse scenario the Fed inflicts on banks is seen as harsher than the EBA's test.

But other factors - notably Europe's insistence that banks use a 'static balance sheet' that does not allow adjustments for asset sales or other remedial action in a crisis - make comparisons about test severity difficult.

What is more significant is how the U.S. testing process has evolved so it has become a key part of executives' planning and strategy, industry sources said.

"Over the last five years the CCAR process has had a very strong effect on the banks in the U.S. in terms of the discipline to the approach and the resources they apply, which are much greater than typically applied in Europe," Richard Barfield, a director in PwC's risk and regulation practice, said. "All those qualitative aspects of the process have moved on from the starting point."

Almost 90 percent of European banks had less than 20 people dedicated to stress testing, according to a survey by PwC in January, whereas core teams in some U.S. banks included 40-70 people, and one big bank estimated it had 500 people involved.

The Fed's test takes place every year to a set timetable.

"There is a value to routine," the EBA's Haben acknowledged. Europe's banks will conduct annual national tests, but he said no decision had been taken on whether that should be done across the European Union. 

Source: Reuters

Geopolitics: Ukraine Crisis recent developments

"The Russian president said military withdrawal, an end to violence and a national dialogue were the key issues in Ukraine, according to a Kremlin briefing on the phone conversation.

A spokesman for Merkel said the focus of the call had been the German chancellor asking for Putin's assistance in freeing seven observers from the Organisation for Security and Co-operation in Europe who are being held by pro-Russia separatists in eastern Ukraine. The Kremlin said Merkel initiated the call.

A crowd of pro-Russians hurling rocks and Molotov cocktails took control of the prosecutor's office in Donetsk on Thursday as Kiev's hold on the east continued to ebb away.

Several of the 100 police officers guarding the building were injured and in some cases severely beaten as they were stripped of their weapons and shields. The pro-Russians hoisted the Russian flag, barricaded the front door and burned Ukrainian symbols in the street.

The Russian foreign ministry said earlier on Thursday that a proposal from Ukraine's prime minister, Arseniy Yatsenyuk, to hold a poll on Ukrainian unity and territorial integrity was a sham that would only deepen the crisis in the country.

On Wednesday Yatsenyuk said the Kiev government would send to parliament a law on conducting the nationwide poll on 25 May, when the country is also due to hold a presidential election.

The Russian foreign ministry said the plans were "cynical" given what it said was Kiev's military operation against "its own people"".

Source: theguardian

China censors assert online authority in blow to U.S. TV shows

Globe says Pacific Rubiales cut to "sector perform"

The Globe and Mail reports in its Friday, April 25, edition that RBC Dominion Securities analyst Nathan Piper has downgraded Pacific Rubiales Energy ($17.87) to "sector perform" from "outperform." The Globe's Darcy Keith, Tim Shufelt and Jody White write in the Eye On Equities column that Mr. Piper cut his price target to $21 from $23. The analyst warns that a big increase in operating costs could erode investor sentiment toward Pacific Rubiales Energy. Pacific Rubiales shares have advanced by almost 40 per cent in two months. Mr. Piper lowered his rating after the company, which is the largest private oil producer in Colombia, reported an increase in first quarter operating expenses of up to 25 per cent from the previous quarter. Mr. Piper says, "Although production guidance for FY14 remains unchanged we think the cost increase could impact recent positive investor sentiment." Credit Suisse also dropped its price target to $17 from $18 and reiterated a "neutral" rating. The average analyst price target, according to Bloomberg, is $24.28. Credit Suisse analyst David Phung downgraded Pacific Rubiales to "neutral" from "outperform" in the Eye column on Oct. 16, 2013. The shares were then worth $22.52.

U.S. ISM manufacturing index climbs to 54.9% in April from 53.7%

U.S. manufacturing companies expanded in April at the fastest pace since the end of last year, a survey of executives found. The Institute for Supply Management said its manufacturing index rose to 54.9% last month from 53.7% in March, marking the highest level since December. That was higher than the 54.4$ forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking. The employment gauge jumped 3.6 points to 54.7% - also the highest level since December. The ISM's new-orders index was flat at still-strong 55.1%, while production dipped to 55.7% from 55.9%. Seventeen of the 18 industries tracked by ISM reported growth last month. The only one to record a decline were makers of nonmetallic mineral products.

Source: Marketwatch

US Jobless claims rise 14,000 to 344,000

- The number of people who applied for U.S. unemployment benefits rose by 14,000 to a nine-week high of 344,000, the Labor Department said Thursday. The increase was unexpected. Economists polled by MarketWatch had expected claims to fall to a seasonally adjusted 320,000 in the seven days ended April 26. Claims jumped 25,000 to 330,000 in the prior week but analysts had thought some of the gain was due to the Easter holiday and would be reversed this week. The average of new claims over the past month rose by 3,000 to 320,000, the highest since the end of March. The monthly figure smooths out the jumpiness in the weekly data and offers a better look at the underlying trend. Also, the government said continuing claims increased by 97,000 to a seasonally adjusted 2.77 million in the week ended April 19. 

Source:  Marketwatch