French government says will propose a rejigged 75 percent tax plan

PARIS (Reuters) - The French government will redraft a proposal for a 75 percent upper income tax band and resubmit it, the prime minister's office said on Saturday, after the Constitutional Council rejected the measure included in the 2013 budget.
"It will be presented as part of the next budget law," Prime Minister Jean-Marc Ayrault's office said in a statement, without giving a time frame. The statement said the Council's rejection of the 75 percent tax would not affect efforts to trim the public deficit.

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French court rejects 75 percent millionaires' tax

PARIS (Reuters) - France's Constitutional Council on Saturday rejected a 75 percent upper income tax rate to be introduced in 2013 in a setback to Socialist President Francois Hollande's push to make the rich contribute more to cutting the public deficit.
The Council ruled that the planned 75 percent tax on annual income above 1 million euros ($1.32 million) - a flagship measure of Hollande's election campaign - was unfair in the way it would be applied to different households.
Prime Minister Jean-Marc Ayrault said the government would redraft the upper tax rate proposal to answer the Council's concerns and resubmit it in a new budget law, meaning Saturday's decision could only amount to a temporary political blow.
While the tax plan was largely symbolic and would only have affected a few thousand people, it has infuriated high earners in France, prompting some such as actor Gerard Depardieu to flee abroad. The message it sent also shocked entrepreneurs and foreign investors, who accuse Hollande of being anti-business.
Finance Minister Pierre Moscovici said the rejection of the 75 percent tax and other minor measures could cut up to 500 million euros in forecast tax revenues but would not hurt efforts to slash the public deficit to below a European Union ceiling of 3 percent of economic output next year.
"The rejected measures represent 300 to 500 million euros. Our deficit-cutting path will not be affected," Moscovici told BFM television. He too said the government would resubmit a proposal to raise taxes on high incomes in 2013 and 2014.
The Council, made up of nine judges and three former presidents, is concerned the tax would hit a married couple where one partner earned above a million euros but it would not affect a couple where each earned just under a million euros.
UMP member Gilles Carrez, chairman of the National Assembly's finance commission, told BFM television, however, that the Council's so-called wise men also felt the 75 percent tax was excessive and too much based on ideology.
FRANCE UNDER SCRUTINY
Hollande shocked many by announcing his 75 percent tax proposal out of the blue several weeks into a campaign that some felt was flagging. Left-wing voters were cheered by it but business leaders warned that talent would flee the country.
Set to be a temporary measure until France is out of economic crisis, the few hundred million euros a year the tax was set to raise is a not insignificant sum as the government strives to boost public finances in the face of stalled growth.
Hollande's 2013 budget calls for the biggest belt-tightening effort France has seen in decades and is based on a growth target of 0.8 percent, a level analysts view as over-optimistic.
Fitch Ratings this month affirmed its triple-A rating on France but said there was no room for slippage. Standard & Poor's and Moody's have both stripped Europe's No. 2 economy of its AAA badge due to concern over strained public finances and stalled growth.
The International Monetary Fund recently forecast that France will miss its 3 percent deficit target next year and signs are growing that Paris could negotiate some leeway on the timing of that goal with its EU partners.
The INSEE national statistics institute this week scaled back its reading of a return to growth in the third quarter to 0.1 percent from 0.2 percent, and the government said it could review its 2013 outlook in the next few months.
Saturday's decision was in response to a motion by the opposition conservative UMP party, whose weight in fighting Hollande's policies has been reduced by a leadership crisis that has split it in two seven months after it lost power.
The Constitutional Council is a politically independent body that rules on whether laws, elections and referenda are constitutional.

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Rejected French tax measures worth 300-500 million euros: finance minister

PARIS (Reuters) - The French Constitutional Council's rejection on Saturday of a 75 percent upper income tax rate and other minor measures in the 2013 budget will affect some 300-500 million euros worth of tax revenues, Finance Minister Pierre Moscovici said.
"The rejected measures represent 300 to 500 million euros. Our deficit-cutting path will not be affected," Moscovici told BFM television.
He added that the Socialist government would resubmit a proposal to raise taxes on high incomes in 2013 and 2014.

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French actor Depardieu in Russia to meet Putin

MOSCOW (Reuters) - French film star Gerard Depardieu arrived in Russia on Saturday to meet President Vladimir Putin, who granted him citizenship after a public spat in France over his efforts to avoid a potential 75 percent income tax.
Putin's spokesman Dmitry Peskov said the two would meet in the Black Sea resort of Sochi, where Putin was spending part of the 10-day New Year and Russian Orthodox Christmas holiday.
He said it was possible Putin would hand Depardieu his Russian passport during the meeting.
"It is a private meeting, we will not be releasing any other details," Peskov said by phone.
Russian media quoted him as saying the meeting would take place on Saturday. Depardieu's spokesman could not immediately be reached for comment.
On Thursday, the Kremlin announced that Putin had signed a decree granting Russian citizenship to Depardieu, who objected to Socialist president Francois Hollande's plan to impose a 75 percent tax rate on millionaires.
Depardieu is a popular figure in Russia, where he has appeared in many advertising campaigns, including for ketchup. He also worked there in 2011 on a film about the eccentric Russian monk Grigory Rasputin.
The star of the movies "Cyrano de Bergerac" and "Green Card" was also among the Western celebrities invited in 2012 to celebrate the birthday of Ramzan Kadyrov, the Kremlin-backed strongman leader of Russia's Chechnya province who is accused by rights groups of crushing dissent.
Some of Putin's critics called the passport move a stunt and pointed out that Putin last month announced a campaign to prevent rich Russians keeping their money offshore.
At a press conference on December 20 during which he offered Depardieu a passport, Putin said Russia had a close, special relationship with France and that he had developed warm ties with the actor, even though they had rarely met.
But Moscow suffered a blow in November when it was forced to suspend its bid to build an Orthodox church with five domes in the heart of Paris, whose mayor called the plan "ostentatious".
Russia has a flat-rate income tax of 13 percent compared to the 75 percent rate that French President Francois Hollande wants to introduce on income over 1 million euros ($1.32 million).
Depardieu has already bought a house in Belgium to establish Belgian residency in protest at Hollande's tax plans.
Hollande's original proposal was struck down by France's Constitutional Court in December, but he has pledged to press ahead with a redrafted tax on the wealthy.
French Prime Minister Jean-Marc Ayrault called Depardieu's decision to seek Belgian residency "pathetic" and unpatriotic, prompting an angry reply from the actor.
Russia does not require people to hand in their foreign passports once they acquire a Russian one. But it is rare for people from the European Union or the United States to seek Russian citizenship unless they have recent Russian roots.

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Italy's Monti says change property tax as polls improve

ROME (Reuters) - Italy's outgoing prime minister, Mario Monti, said on Sunday he would alter an unpopular property tax imposed by his own government, as a poll showed his centrist bloc gaining in popularity ahead of next month's election.

Monti's new centrist formation was third in a survey published on Sunday ahead of the February 24-25 parliamentary vote, behind a centre-left coalition led by Pier Luigi Bersani and the centre-right bloc of former prime minister Silvio Berlusconi.

Monti, a 69-year-old former European commissioner, was appointed in November 2011 to lead an unelected right-left government of experts after Berlusconi quit amid a sex scandal and Italy's financial crisis threatened the euro.

To cut the deficit and restore confidence in Italy's ability to manage its 2-trillion-euro debt, Monti introduced a series of austerity measures in late 2011, including a property tax that hurt consumer spending and deepened the recession.

Berlusconi, who supported Monti's government until two weeks ago, has repeatedly said his first act of government, should he win February's vote, would be to abolish the property tax.

"Taxes need to be cut, but no one should be making promises that cannot be kept," Monti told SkyTG24 television. The property tax "should be restructured and modified", he said, with a greater portion set aside for city governments.

Monti repeated he wants to cut income taxes for low earners and said a planned value-added tax increase can be averted if the election winners are "ready to say no to special interests".

Both Berlusconi and Monti have made multiple appearances on TV, in Twitter question-and-answer sessions, and in online video interviews over the past week as they seek to close the gap with the centre-left, and it is paying off.

POLL

The centre-left coalition still has a comfortable lead, but both Monti's and Berlusconi's blocs have gained in recent weeks, according to a poll published on Sunday.

The number of voters who say they will vote for Bersani's bloc is between 38 and 39 percent, and the Democratic Party (PD) is seen getting 32-33 percent, polling institute ISPO said.

Monti's bloc has risen to between 14 and 15 percent from just over 10 percent before he entered the race, and Berlusconi has boosted his own party's share to 17-19 percent from 13-16 percent at the beginning of December, the poll indicated.

The number of undecided voters, or those who plan to abstain, has fallen below 40 percent, down from almost 50 percent a few weeks ago, the poll showed.

The new "With Monti for Italy" formation presented on Friday would itself win 9 percent, the poll said, and is drawing votes mostly from the centre-left and the previously undecided, said Renato Mannheimer, head of ISPO.

"Most analysts see it as improbable that, as things now stand, the coalition led by Monti can win more than 20 percent," he said.

If Berlusconi seals an alliance with the regionalist Northern League, his coalition could pull in 28 percent of the vote, ISPO said. Most of the PDL increase came from the large pool of undecided and disillusioned voters, Mannheimer said.

If Berlusconi and the League run together, complexities of the electoral law might make a post-election alliance with Monti key to a stable Senate majority for Bersani, Mannheimer added.

The anti-establishment 5-Star Movement, led by comic Beppe Grillo, dropped to 13-14 percent from 17-19 percent a month ago.

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Republican Sen. McConnell rules out more taxes in U.S. fiscal fight

WASHINGTON (Reuters) - Senate Minority Leader Mitch McConnell on Sunday ruled out raising tax revenues on top of the tax hike on the wealthy in the "fiscal cliff" deal, and said the full focus must now be on spending cuts to curb U.S. deficits.
But Democrats said they would push for a "balanced" approach of more tax revenue from the rich as well as spending reductions as Congress headed toward another fiscal battle in March over raising the federal debt ceiling.
"The tax issue is finished, over, completed," McConnell, a Kentucky Republican, said on ABC's "This Week With George Stephanopoulos."
"That's behind us. Now the question is what are we going to do about the biggest problem confronting our country and our future, and that's our spending addiction."
McConnell used the Sunday morning news shows to lay out his position in the upcoming fight over raising the U.S. debt ceiling and funding the government that is expected to come to a head in March, just three months after the struggle to avert the January 1 fiscal cliff of severe tax hikes and spending cuts that economists said could have brought a recession.
Republicans want big spending cuts in programs including Medicare healthcare for the elderly and the Social Security pension program as a condition for raising the U.S. borrowing limit.
President Barack Obama has said he will not negotiate over the debt ceiling, arguing that Congress must pay the bills for spending it has already approved.
McConnell said the White House should start working with Congress immediately to find savings, before the March deadline to raise the borrowing limit brings another fiscal crisis.
"We could do things very quickly, these are not new issues," he said on ABC.
Asked whether Republicans would threaten a U.S. default in their press for spending cuts, McConnell said, "It's not even necessary to get to that point. Why aren't we trying to settle the problem? Why aren't we trying to do something about reducing spending?"
On CBS's "Face the Nation," he said, "We now have a debt of $16.4 trillion. That's as big as our economy. That alone makes us look a lot like Greece."
'LINE IN THE SAND'
Democrats said they will continue to push for more revenue as well as spending cuts to curb deficits, issues they said should be dealt with separately from the debt ceiling.
"Well, if Mitch McConnell is going to draw the line in the sand, it's going to be a recipe for more gridlock," Representative Chris Van Hollen, a Maryland Democrat, said on "Fox News Sunday."
"As we go forward, we need to adopt the same framework as the bipartisan Simpson-Bowles commission, meaning, a combination of cuts and revenue," Van Hollen said, referring to the commission that presented a sweeping plan to cut deficits.
"We're talking about looking at the tax code, putting everything on the table from the standpoint of closing loopholes, and we know that we can do that. Special subsidies for big oil, for example, $38 billion right there," House Democratic leader Nancy Pelosi said on CBS's "Face the Nation."
Pelosi, of California, said any savings found in Medicare and Social Security should be plowed back into the programs.
In what could be a replay of last year's standoff over the debt ceiling, House Republicans will put forward a plan "that says: OK, Mr. President, if you want to increase the borrowing authority of this country, here is a menu of options where you can reduce spending of equal or greater amount," said Ohio Republican Representative Jim Jordan.
"Mitch McConnell is exactly right," Jordan said on Fox News. "They just got revenue. We've got to cut spending. We've got $16 trillion debt. The credit card is maxed out."
Senator Dick Durbin, the No. 2 Democrat in the chamber, said Obama will discuss curbing the debt in his State of the Union address this month, "but it has to be done in a balanced way."
On CNN's "State of the Union," Durbin, of Illinois, said more money should be wrung from taxes, citing various deductions, special treatments and loopholes. "We can do that and use the money to reduce the deficit."
In his several television appearances, McConnell also defended the deal he helped to broker with Vice President Joe Biden to avoid the fiscal cliff.
Most of his fellow Republicans in the House opposed the deal for being focused almost entirely on raising revenue through a tax increase on families making more than $450,000 a year, while postponing significant spending cuts.
"What we did was prevent tax increases on 99 percent of the American public. Nobody in the Senate, not the 90 percent of Senate Republicans who voted for this, voted to raise anybody's taxes," McConnell said on NBC's "Meet the Press."
The deal extended lower tax rates for most taxpayers set during the George W. Bush administration that were set to expire on January 1, but let rates rise on the top incomes.

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Craig Suits and Lilith Eden Pen New Book on Entertaining Hobby, ‘Treasure In Your Backyard’

Westwood, NJ (PRWEB) January 04, 2013
Treasure hunting has fascinated children and adults for years with the idea of going on a high adventure and finding lost gold and ancient artifacts. Treasure hunter Craig Suits partakes in this entertaining hobby, but with the absence of pirates and curses. Ever since he built his first metal detector from a kit 45 years ago. he has been hunting for treasure everywhere he goes. It soon became a lifelong hobby that he not only had fun with, but also found profit in. Now to share his love with others, along with the help of editor Lilith Eden, comes their new book, “Treasure In Your Backyard” (published by AuthorHouse).
“Treasure In Your Backyard” is an instructional book designed to inform readers of the fun and profit that treasure hunting can provide for almost anyone. Suits teaches readers the basics needed to begin their own treasure hunt, from the equipment needed and instructions on using a metal detector to insights on where to and where not to search. He even shares a number of personal stories from his own exciting experiences.
“I would like to inspire and educate readers that aren’t accustomed to treasure hunting with metal detectors and to provide readers with a great and free life-long hobby that will always be the source of at least a few dollars,” Suits explains. “A lot of fun, great exercise and the possibility of discovering items worth thousands, especially when gold is selling at around $1800 an ounce these days.”
“Treasure In Your Backyard”

By Craig Suits and Lilith Eden

Softcover | 5 x 8 in | 64 pages | ISBN 9781468529500 |

E-Book | 64 pages | ISBN 9781468529494 |

Available at Amazon and Barnes & Noble
About the Authors

Craig Suits is also author of the book, "[Up One Level." He supplies 45 years of field experience and technical know-how in the field of treasure hunting with a metal detector. Lilith Eden has bachelor’s degrees in anthropology and history.
AuthorHouse, an Author Solutions, Inc. self-publishing imprint, is a leading provider of book publishing, marketing, and bookselling services for authors around the globe and offers the industry’s only suite of Hollywood book-to-film services. Committed to providing the highest level of customer service, AuthorHouse assigns each author personal publishing and marketing consultants who provide guidance throughout the process. Headquartered in Bloomington, Indiana, AuthorHouse celebrated 15 years of service to authors in Sept. 2011.For more information or to publish a book visit authorhouse.com or call 1-888-519-5121. For the latest, follow @authorhouse on Twitter.

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Harold A. Workman Jr. Unleashes His Poetic Talent in New Book

The Works Of A. Workman’ is a heartwarming poetry collection that offers love, hope and happiness in a world of pain and strife.

California City, CA (PRWEB) January 04, 2013
Passionate writer and hard-working contractor Harold A. Workman Jr. carefully weaves his romantic, poetic and inspiring take on life’s loss, pain, grief , happiness and success in his heartwarming and meaningful anthology, The Works Of A. Workman. This book contains poetic pieces that he has written throughout the course of his life. He aims to motivate and delight readers in looking at life in a more profound and joyful way.
Brimming with intense emotions, Workman’s poignant, deep and mystical poetic pieces will definitely touch many hearts and souls. His remarkable play with words, feelings and thoughts can bring both smiles and tears to readers. From grief to happiness, from solitary to harmony, from love to heartaches, from rejection to moving on, and more, the poems are an amazing blend of Workman’s feelings, hopes, insights, and learning. Highly stimulating, insightful, genuine, and fresh, this collection is his way of showing to all that life is a great adventure worth trying. Sometimes, it gets too hard that it’s better to renounce, give-up, surrender; it seems like there is no light at the end of the tunnel, however with the desire of hope, inspiration and truth interwoven in these poems, everyone will realize that everything is still worth it and life is the best roller coaster ride one can ever experience.
The Works Of A. Workman expresses true human emotions and feelings people feel at some point in their lives. It also reveals the positive side of life, which is often overlooked. The viewpoint of this book is to convey that life is a wonderful mystery. People can enjoy and learn from each and every adventure. It evokes a true luminous, magnetic power all on its own that is enough to give spark and glimmer to every reader’s life.
For more information on this book, interested parties may log on to http://www.Xlibris.com.
About the Author

Harold A. Workman Jr. has been writing poetry almost all of his life. He is a hard-working contractor that meets people from all walks of life. Poetry is Workman’s way of sharing his feelings and emotions.
The Works Of A. Workman* by Harold A. Workman Jr.

Volume 2

Publication Date: December 13, 2012

Trade Paperback; $19.99; 268 pages; 978-1-4797-5849-4

Trade Hardback; $29.99; 268 pages; 978-1-4797-5850-0

eBook; $3.99; 978-1-4797-5851-7
Members of the media who wish to review this book may request a complimentary paperback copy by contacting the publisher at (888) 795-4274 x. 7879. To purchase copies of the book for resale, please fax Xlibris at (610) 915-0294 or call (888) 795-4274 x. 7879.
For more information on self-publishing or marketing with Xlibris, visit http://www.Xlibris.com. To receive a free publishing guide, please call (888) 795-4274.

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Author Mary Margaret Jensen Pens Debut Fiction, ‘Against the Grain’

Farmington, NM (PRWEB) January 04, 2013
Author Mary Margaret Jensen hearkens readers to remember small-town life in the Southwest before technology changed history forever in her engaging new novel, “Against the Grain” (published by Trafford Publishing).
Set in mid-20th-century New Mexico, “Against the Grain” is narrated by Sandy, a middle-aged woman reminiscing on the events of her childhood. When she was 10-years-old, she witnessed the blooming romance between two locals who were largely looked upon as outcasts.
Neither Tobus nor Ruby were fully accepted by the locals; Tobus had a speech impediment and Ruby was noticeably obese. But to each other, they were a perfect match. The couple began a torrid love affair and before long decided to elope.
When Charley, Ruby's father and the local storekeeper, learned of the secret marriage, he went into a tirade. In fear Charley was to drive them apart, Ruby pled with Tobus that they leave the country. Believing she had Tobus persuaded that they go, she set the night of the community Halloween party for them to leave, but Tobus never came.
Readers are drawn into a world of mystery, intrigue and family secrets filled with complex characters coping with situations that are common to the human condition. Jensen has crafted a fast-paced, heartfelt novel that will resonate with a broad audience.
About the Author

Mary Margaret Jensen has been writing short stories since she was a child. Now a widow, she resides in New Mexico and has one son and two daughters. This is her first published book.
Trafford Publishing, an Author Solutions, Inc. author services imprint, was the first publisher in the world to offer an “on-demand publishing service,” and has led the independent publishing revolution since its establishment in 1995. Trafford was also one of the earliest publishers to utilize the Internet for selling books. More than 10,000 authors from over 120 countries have utilized Trafford’s experience for self publishing their books. For more information about Trafford Publishing, or to publish your book today, call 1-888-232-4444 or visit trafford.com.

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New Mauritius Hotels posts 25 pct drop in full-year profit

 Luxury hotels group New Mauritius Hotels (NMH) reported a 25 percent fall in full-year pretax profit, citing higher finance costs and fewer tourists, and forecast a 15 percent drop in first-quarter earnings.
Ranked among the Indian Ocean island's most-traded stocks, NMH said on Wednesday that pretax profit for the year to September 30 fell to 603 million Indian rupees, with earnings per share down 20 percent at 3.60 rupees.
The hotels group said that it won't pay a dividend this year, given the difficult conditions in the local tourism industry. Last year it paid a dividend of 2.50 rupees per share.
Shares in the group, which owns eight hotels in Mauritius and one in the Seychelles, closed unchanged at 52 rupees before its results were released.
Tourism, a traditional cornerstone of the Mauritius economy, has been forecast to account for 7.9 percent of domestic product in 2012, down from 8.4 percent last year. The downturn in tourism has been caused largely by economic turmoil in the euro zone - the sector's key source market.

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FedEx: cost plan can counter sluggish growth

 FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings.
The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country.
Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations.
But FedEx maintained its forecast for the full fiscal year ending in May, counting on a massive cost reduction plan and a slightly more optimistic view of growth overseas. Shares rose 2.6 percent in afternoon trading.
FedEx Corp. posted earnings of $438 million, or $1.39 per share for the quarter that ending in November, compared with $497 million, or $1.57 per share, a year ago. That was below the $1.41 per share that Wall Street was expecting, according to a poll of analysts by FactSet.
Revenue rose to $11.1 billion from $10.6 billion previously, as the company scaled back its operation to better match demand and some of its raised rates. Analysts forecast revenue of $10.84 billion.
Growth in the company's freight and ground operations boosted results, but FedEx reported "persistent weakness" in its core express network. Operating income in that segment fell 33 percent. FedEx and its larger rival UPS Inc. have both seen consumers and businesses opt for slower shipping options to cut costs.
FedEx said on Wednesday that it expects earnings will be between $1.25 and $1.45 per share in the third quarter. Analysts that follow the company were predicting per-share earnings of $1.45.
The company, based in Memphis, Tenn., also said it expects to earn between $6.20 and $6.60 per share for the year ending in May, excluding any charges from the company's buyout plan. Wall Street is looking for $6.34.
Earlier this month FedEx said it will offer some employees up to two years pay to leave, starting next year. The voluntary program is part of an effort to cut annual costs by $1.7 billion within three years. The plan also includes cutting aircraft and underused assets.

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FedEx says it can grow by cutting costs

 FedEx may be pessimistic about the U.S. economy, but it's confident about growing its earnings.
The world's second-largest package delivery company, a bellwether for economic health because of the vast number and kinds of shipments it handles, lowered its economic forecast for the U.S., saying there remains a lot of uncertainty for the country.
FedEx maintained its earnings forecast for the full fiscal year ending in May, counting on a massive cost reduction plan and a slightly more optimistic view of growth overseas. Shares rose 84 cents to close at $93.20 Wednesday, even though its forecast for the current quarter, which includes the critical holiday season, falls short of Wall Street expectations.
FedEx Corp. posted earnings of $438 million, or $1.39 per share for the quarter that ended in November, compared with $497 million, or $1.57 per share, a year ago. Superstorm Sandy shaved 11 cents per share off of earnings in this year's quarter, as shipping volumes fell and costs rose.
Revenue rose to $11.1 billion from $10.6 billion a year ago, as the company scaled back its operation to better match demand and some of its raised rates.
Wall Street expected $1.41 per share in the recent quarter on revenue of $10.84 billion, according to FactSet.
Growth in the company's freight and ground operations boosted results, but FedEx reported "persistent weakness" in its core express network. Operating income in that segment fell 33 percent. FedEx and its larger rival UPS Inc. have seen consumers and businesses opt for slower shipping options to cut costs. As a result, FedEx is offering buyouts and shedding aircraft and other assets to reduce its costs and adjust to the new normal.
Earlier this month FedEx said it will offer some employees up to two years pay to leave, starting next year. The voluntary program is part of an effort to cut annual costs by $1.7 billion within three years.
FedEx said on Wednesday that it expects earnings of $1.25 to $1.45 per share in the third quarter. Analysts predicted per-share earnings of $1.45.
The company, based in Memphis, Tenn., also estimated $6.20 and $6.60 per share for the year ending in May, excluding charges from the company's buyout plan. Wall Street is looking for $6.34 per share.

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Burundi tea earnings rise 27 pct in November on high prices

 Burundi's tea export revenues rose 27 percent in November from the same month last year thanks to a stronger regional market, a tea board official said on Thursday.
The state-run tea board (OTB) said it collected $1.80 million from the sale of 589,907 kg, up from $1.42 million earned in November 2011 from the export of 563,140 kg.
"Supplies of the commodity in the region were low following a fall in overall production, especially with Kenya," Joseph Marc Ndahigeze, OTB's export official, told Reuters.
"This has boosted prices and earnings for Burundi's tea."
Kenya is the top tea producer in the East African region and landlocked Burundi exports 80 percent of its tea through a weekly auction held in Kenya's Indian Ocean port city of Mombasa.
Ndahigeze said the export average price per kg jumped to $3.06 from $2.54 the previous year.
OTB said total export earnings between January and November reached $24.7 million, exceeding the $22.2 million collected in 2011.
Tea is Burundi's second largest hard currency earner after coffee and employs some 300,000 small holder farmers in a nation of 8 million people.

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Discover Financial Services 4Q net income rises

 Discover Financial Services on Thursday reported higher earnings for its fiscal fourth quarter, as users of its namesake credit card stepped up purchases and the company wrote off fewer unpaid balances.
Even so, the Riverwoods, Ill.-based company's results fell short of Wall Street expectations, and investors sent its shares down over 3 percent Thursday.
Discover, the nation's sixth-largest credit card issuer, said total loans, credit card loans and Discover card sales volume increased 6 percent in the quarter, which coincided with the tail end of the back-to-school shopping season and the ramp up to the December holidays — key periods when consumers traditionally spend more.
Discover card sales volume increased to $26.5 billion, while credit card loans at the end of the quarter totaled $49.6 billion. Private student loans rose 6 percent, while personal loans climbed 24 percent, the company said.
"Our strong receivables and sales growth results demonstrate the effectiveness of our marketing programs, consumers' preference for cash rewards and our acceptance and awareness initiatives," Chairman and CEO David Nelms said during a conference call with analysts.
While Discover's customers racked up more debt, more of them paid off credit card balances on time. The delinquency rate on credit-card loans over 30 days past due was 1.86 percent, an improvement of 53 basis points from a year earlier. The rate of charge-offs, when the company writes off unpaid credit card balances, dropped to a historic low of 2.29 percent.
"While the continued improvement in credit appears to be nearing an end, we don't believe we are at a point where charge-offs are poised to rise significantly," Nelms said.
Nationwide the rate of credit card payments at least 90 days overdue edged up in the third quarter to 0.75 percent, according to credit reporting agency TransUnion. The rate is coming off historically low levels, however.
Discover has traditionally had one of the lowest rates for default and delinquency in the credit card industry, the result of tighter lending standards and close monitoring of problem accounts.
The company has reported improvement in its customers' default and late-payment rates since the Great Recession, as cardholders moved to pay down debt and boost savings.
Late-payment rates tend to creep higher in the fall, particularly as cardholders spend more money on holiday shopping, travel and other expenses. The company said that seasonal factor led to a slight increase in its credit card loan delinquency rate between the third and fourth quarter.
While Discover's rates for late payments and defaults remain low, the company has been making more loans. As a result, it has been setting aside more funds to cover potential loan losses.
In the September-to-November quarter, Discover increased its provision for loan losses by 6 percent to $338 million, noting that was somewhat offset by a drop in the number of unpaid credit card balances that had to be written off.
Meanwhile Discover's payment-services business, which competes with Visa and MasterCard, saw dollar volume increase 13 percent in the latest quarter.
In a client note Thursday, RBC Capital Markets analyst Jason Arnold said Discover is benefiting from increased acceptance of its cards and favorable credit trends.
"We remain very enthused by Discover's fundamental position and believe the company remains well positioned for loan and (earnings per share) growth," wrote Arnold, who has a $50 price target on the stock.
For the period ended Nov. 30, Discover earned $541 million, or $1.07 per share. That compares with $513 million, or 95 cents per share, a year earlier.
Analysts surveyed by FactSet expected earnings of $1.12 per share.
Revenue climbed 11 percent to $2 billion, after interest expense. Wall Street forecast $1.96 billion.
Also on Thursday, Discover declared a dividend of 14 cents per share. It will be paid on Jan. 17 to shareholders of record on Jan. 3.
Discover shares fell $1.36, or 3.4 percent, to close at $38.41 Thursday. The stock is up 60 percent this year.

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proAV captures slice of surging video wall market

As forecasts of a dramatic rise in the global video wall industry continue to be met, proAV has confirmed the pioneering multidisplay technology has dominated its sales in key vertical markets throughout 2012.

(PRWEB UK) 22 December 2012
As forecasts of a dramatic rise in the global video wall industry continue to be met, proAV has confirmed the pioneering multidisplay technology has dominated its sales in key vertical markets throughout 2012.
In a recent report, Futuresource Consulting suggested the international video wall market is likely to achieve a 60 per cent growth this year, predicting sales of some 380,000 units. Rear projection cubes (RPCs) and super narrow bezel (SNB) displays are already becoming commonplace in retail, public and exhibition environments as well taking centre stage in some of the world’s most dynamic corporate spaces. Indeed, according to Parmit Bhangal of Futuresource, SNBs achieved year-on-year sales growth of more than 100 per cent last year, accounting for over 80 per cent of the total video wall market; a trend that looks set to continue.
proAV is one of the world’s most exciting professional AV systems integrators and has noted a significant shift from single, very large screens to the cost effective, immersive user experience of multiple displays that serve as an expansive video display canvas, often in very diverse market sectors.
Mark Hazell, Sales Director at proAV, points to the versatility and future-proofed features of the high impact, ultra large format video wall as key factors in its rapid growth.
‘You only have to stand in front of a video wall to see why vertical markets are embracing this technology in all manner of applications,’ he explains. ‘Powerful digital signage systems are driving the growth of video walls that capture attention within retail and public spaces while corporates are wowing their business partners with futuristic presentation and reception areas that only a video wall can dominate to this extent.
‘But, of course, with versatility comes an appeal that other verticals are now pursuing with increasing zest; mission-critical environments such as transport and logistics, IT and command and control centres are looking to increasingly more dynamic displays to communicate news and induce a new level of collaboration. Add to this a suite of innovative features and it’s easy to see why enterprising organisations are deploying these tiled display solutions as part of ever more ambitious and interactive marketing strategies. Our clients are exploring the integrated touch technologies such as gesture and projective capacitive touch features that would be impossible to replicate on a smaller, traditional display screen.’
proAV has recently completed a number of high profile integrated AV projects where large video walls have been central to the scheme and highlight the benefits for deployments within the rapid growth areas, identified by Futuresource, i.e. retail and corporate sectors.
Burberry, the leading luxury fashion retailer, already entrusts its international AV solutions to proAV and recently commissioned the organisation to install a series of 9’ high Christie MicroTile arrays and a stunning 22’ high Laser Phosphor Display (LPD) video wall as part of groundbreaking AV scheme for its new, flagship store in London’s Regent Street. The vast wall sits between two sweeping staircases and is made up of hundreds of Prysm LPD tiles, each using a solid-state laser diode that emits a 405nm wavelength laser beam.
Taking the initiative within the corporate sector, JPMorgan Chase & Co, the global financial services organisation, tasked proAV with an integrated AV solution that features a spectacular 22 x 8 tile curved, digital display wall in its auditorium and is designed to immerse viewers in remarkable HD video and graphics.
And, commensurate with its forward-thinking corporate identify, Cisco Systems commissioned proAV to deliver one of the UK’s most inspired, large-scale digital video display wall to front a vast auditorium at its UK Virtual Events Center in Middlesex. The 24 x 5 tile Prysm video wall uses a bespoke tramline system that enables the wall to be divided into three separate displays when the room is configured into smaller rooms.
The Futuresource report suggests sales of video walls look set to reach close to a million units in 2015; proAV will certainly be playing an important role in the incredible rise of this remarkable technology. If you haven’t marvelled at, touched or engaged with a dynamic tiled display yet, it’s unlikely the experience is too far away.

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Ulysses S. Grant National Historic Site and Day & Night Solar – Making History Together

Ulysses S. Grant National Historic Site continues to make history. It was the first NPS site in the Midwest Region to switch to buying wind and water power. Now it is making history again by installing solar power.

St Louis, MO (PRWEB) December 22, 2012
Nestled in South St. Louis County is the Ulysses S. Grant National Historic Site. Ulysses S. Grant was known as the victorious Civil War general who saved the Union and became the 18th President of the United States. This National Park Service site and St. Louis landmark is home to rich beauty and history.
What few people may not know is that in 1872 President Ulysses S. Grant signed legislation making Yellowstone America's first national park. This act put in motion the preservation and conservation of the National Parks Service (NPS) that continues today. There are nearly 400 National Park Service sites across America. The NPS strives to be a leader in conservation and green practices.
Keeping with that goal, the Ulysses S. Grant National Historic Site decided to utilize solar energy for its Visitor Center to offset the power they were using. Melinda Kershaw, Director of Marketing for Day & Night Solar knew that she wanted Day & Night to be part of this rich local history and to work with such an iconic landmark.
Since opening its doors in early 2009, Day & Night Solar has responded to the rapid demand in the growing solar industry by expanding from its roots in Collinsville, Illinois to working with clients across the entire United States. Their rapid growth is a direct result of listening to their clients and meeting their customers’ needs by providing complete, turnkey, photovoltaic system solutions including financing, securing available grants, installation and superb follow up. The cornerstone of their business is based on integrity, from their highly trained installers and support staff, to the highest quality solar products and superior customer service.
Day & Night Solar was awarded the project. The solar system is now mounted on the roof of the Ulysses S. Grant National Historic Site’s Visitor Center. The project was completed on October 12, 2012.
The new system is a 7.2kW Photovoltaic (PV) array consisting of (30) thirty 240W Lifeline Energy panels along with all associated hardware. All products utilized are 100% US manufactured and were installed by J.F. Electric on a standing-seam steel roof tying in new solar technology while preserving the historic integrity of this landmark.
Ulysses S. Grant National Historic Site continues to make history. It was the first NPS site in the Midwest Region to switch to buying wind and water power. Now it is making history again by installing solar power.

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Ancient Maya Wisdom Key to Modern Health, Says Belize's Chaa Creek

Rather than misinterpreting Maya beliefs to falsely predict the end of the world, researching and practicing ancient Maya medicine and natural healing techniques can open a new world of health today, noted author and Maya medicinal plant expert Dr. Rosita Arvigo advised participants at Chaa Creek’s 2012 Maya Winter Solstice celebrations.

(PRWEB) December 22, 2012
Rather than misinterpreting Maya beliefs to falsely predict the end of the world, researching and practicing ancient Maya medicine and natural healing techniques can open a new world of health today, noted author and Maya medicinal plant expert Dr. Rosita Arvigo advised participants at Chaa Creek’s 2012 Maya Winter Solstice celebrations.
Chaa Creek events coordinator Denise Duran said that Dr Arvigo’s presentation, “Tales of a Maya Shaman” was one of the highlights of the Belizean eco resort’s week-long Maya cultural exposition surrounding the 2012 Maya Winter Solstice celebrations of December 21, 2012.
“I think many of the people in the audience were surprised to learn how effective ancient Maya healing practices were, and how relevant they still are today. Dr. Arvigo’s presentation covered a wide range of topics and really inspired people to learn more about Maya healing and how to apply it to their own lives today,” Ms. Duran said.
In 1983 Dr. Arvigo began a 12-year apprenticeship with Don Elijio Panti, a renowned Belizean healer who had been using ancient Maya techniques that combine plants, prayers, massage, acupuncture, and herbal baths since 1931 to treat thousands of patients in the Central American region. He was recognised by the New York Botanical Garden for his "Distinguished Contribution to Science", and made a Member of the British Empire by Queen Elizabeth II. He died in 1996 at the age of 103.
Dr. Arvigo chronicled her time with him in two of her books, “Sastun: My Apprenticeship With A Maya Healer” and “Rainforest Remedies: One Hundred Healing Herbs of Belize” and has gone on to refine his techniques for a modern audience, especially women, for whom Don Elijio’s treatments were regarded as particularly effective.
“Eventually”, Dr. Arvigo said, “I specialised in ailments of women using these time-honoured bodywork techniques that alleviate and prevent some of our very common complaints. The best part, though, is that it shows there really is an accessible alternative to surgery and drugs for abdominal and pelvis complaints.”
Workshop participants Laura Stegner Pessolano, from Portland, Oregon, and Lisa McElroy from Philadelphia, who attended the 2012 Maya Winter Solstice celebrations with her daughter Abby praised Dr. Arvigo’s talks for opening a new range of affordable and non-invasive health care options.
“This was a particularly valuable presentation in that it showed guests how some very simple, natural and inexpensive techniques can empower them to successfully manage their own health issues. Dr Arvigo emphasises that these ancient techniques aren’t meant to replace modern medicine or doctors, but can certainly be a valuable part of everyone’s health care,” Ms. Duran said.
Dr. Arvigo’s presentation was part of a week-long series of lectures, seminars and workshops held at Chaa Creek as part of Belize’s Maya 2012 Winter Solstice celebrations. Belize’s Maya account for over 12 percent of the population and are having an increasing active voice in national issues such as land management, ecology and social inclusion.
Other noteworthy speakers included archaeologist Dr. Jaime Awe, one of the world’s foremost Mayanists, author David Ruiz, Dr. Allan Moore and Maya flautist and musicologist Pablo Collado.
Chaa Creek proprietor and GM Lucy Fleming hailed the lecture series as a resounding success.
“Dr. Arvigo once again captivated her audience with her real-life journey as a Maya apprentice while imparting some very valuable information along the way. Combined with the presentations from our other expert speakers, our guests received a comprehensive education in Maya history, culture, cosmology and healing. What better way to welcome in the 2012 Winter Solstice and prepare for 2013?
“Chaa Creek will continue to support Maya studies and make our 356-acre nature reserve, which contains scores of Maya archaeological sites and the ancient Maya temple of Tunichilen to legitimate Maya researchers. What was presented at Chaa Creek this week is just the tip of a fascinating amount of Maya information just waiting to be discovered.
“Rather than marking the end of the world, we like to think that the Winter Solstice of 2012 will open up a whole new world of Maya studies for many people,” Ms. Fleming said.

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Dr. Farshchian: Rotator Cuff Injuries are being Treated Now Using Cell Therapy at the Center for Regenerative Medicine

"Rotator cuff injuries are being treated now using cell therapy at the center for regenerative medicine," according to A.J. Farshchian MD.

(PRWEB) December 22, 2012
"Rotator cuff injuries are being treated now using cell therapy at the center for regenerative medicine," according to A.J. Farshchian MD.
Rotator cuff tears are becoming more and more prevalent in young adults and a cause of pain and disability. The rotator cuff is made up of four muscles and their tendons. Together they form a "cuff" over the Humerus head (medical lingo: the upper arm bone). The four muscles are called supraspinatus, infraspinatus, subscapularis, and teres minor. The rotator cuff's job is to lift and rotate the arm and to hold the ball of the shoulder within the joint.
Most of damages occur at the level of supraspinatus.
Some of the common symptoms are:

•Pain upon lifting of the arm or lowering the arm from a fully raised position.

•Weakness upon lifting or rotating the arm.

•Crepitus or crackling sensation (the sound that the above patient experiences) upon moving the shoulder in certain directions.

•In advanced cases atrophy or thinning of the muscles could be noted on the exam.
U.S.A.-based physician Dr. Farshchian is a medical author, humanitarian, and active Republican member. He is best known for coining the term "orthopedic regenerative medicine." Dr. Farshchian is recognized as a leading authority in the new clinical science of regenerative medicine. He is also a television personality, currently hosting "The Arthritis Show."

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SEO Consult® reacts to Google Mobile Ads update

North West based search engine optimisation agency, SEO Consult®, has reacted positively to news of an update to Google Mobile Ads.

(PRWEB UK) 22 December 2012
North West based search engine optimisation agency, SEO Consult®, has reacted positively to news of an update to Google Mobile Ads.
According to the Google Mobile Ads Blog, the search engine giant is rolling out ‘confirmed clicks’ to its ad banners on mobile devices. This is in an attempt to combat accidental clicking on adverts at the bottom of pages on smartphones and tablets when scrolling down the page. This can happen as a result of poor ad placement and design, and is a significant problem for users, publishers and advertisers alike. What Google will now do is ask the user to confirm that they wish to continue through to the advertiser’s site whenever their fingers appear to tap the border of the banner.
This builds on Google’s introduction of implementing this type of confirmed clicking for text ad banners a few years ago. Many users dub this kind of accidental clicking as ‘fat finger syndrome’ and this is exactly what Google is trying to eradicate.
UK leading search engine marketing agency SEO Consult® has welcomed these improvements to navigation on mobile devices. This will benefit users, but also advertisers and publishers, who will be able to improve the accuracy of their analytics and reporting.
“We’re delighted that Google has decided to add the confirmed clicks facility on all of its ad banners on mobile devices. There is nothing more annoying for users than clicking on adverts unintentionally, and there is nothing more annoying for companies like ourselves when we’re going through our stats to get results distorted by unintentional clicking,” said Matt Bullas, Managing Director of SEO Consult®. “We’re continually looking at ways in which we can improve the quality of our services to our clients and this new update from Google will definitely help us to do this.”
To find out more about SEO Consult® and the services that the agency offers, it is recommended that you visit their website http://www.seoconsult.com or call 0845 205 0292.
About SEO Consult®:
Based in Cheshire 10 miles south of Liverpool, SEO Consult® is the dedicated search engine optimisation department of leading internet marketing company Click Consult. Established in 2003, Click Consult employs over 100 members of staff and has over 300 clients in its portfolio. Click Consults offers search engine marketing solutions such as Web Development, Pay Per Click, Social Media Marketing, Reputation Management and more.

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