MCX Crude Oil negative on weak global cues

MUMBAI (Commodity Online): Crude oil prices at India?s Multi Commodities Exchange (MCX) were down by 0.83%. Crude oil for August delivery was seen trading around Rs 6,350-6,438 per bbl levels.

China reported much better than expected trade results for July on Thursday, marking a sharp recovery from the previous month. Reported Chinese trade data showed exports rising 5.1%, swinging from June's 3.1% fall. Imports, which had dropped 0.7% in June, showed a 10.9% leap for July.

On Thursday trade, August crude oil contract rose to a high of 6438 Rs/bbl as of 03.10 pm IST and is expected to trade negative in later session. For intra-day, support is now seen at 6300, 6250 levels and resistance at 6490 & 6540, analyst said.

On COMEX, crude oil was at $104.12 per bbl in electronic trading at 04.58 p.m. Singapore time.

In the evening session, Continuing Jobless Claims and European Central Bank's (ECB) monthly report are scheduled to be released today may put pressure on base metal complex. We expect MCX crude oil to trade with bearish bias.

Source: http://www.commodityonline.com/futures-trading/market-report/MCX-Crude-Oil-negative-on-weak-global-cues-30485.html

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Education is key to energy efficiency according to new Head of Business and Social Housing at npower

Energy supplier, npower has strengthened its social housing team with the appointment of Chris Wall as head of its Business and Social Housing division which provides M&E services including plumbing, heating, renewables and electrical installations. This senior appointment increases npower?s support for the sector at a time when energy efficiency is an ever increasing priority for social landlords and tenants.

Chris takes up his role with more than twenty years? experience in the energy industry. He joined npower in 2010, working with social landlords, managing npower?s installations, repair and maintenance contracts, so brings a wealth of industry insight to the new role.

As head of npower?s Business and Social Housing division, Chris will be leading the team in delivering npower?s partnership approach to working with social landlords. As he explains: ?npower is focused on taking a holistic approach to energy efficiency through funding and installing the most energy efficient products. To support this, awareness and education programmes are equally important, so tenants understand how this technology works in their home.

?This could be through making tenants aware of how their behaviour affects their energy bills, to educating the next generation through our schools? programme - ?Climate Cops?.

?While energy efficiency is a key priority, securing funding for projects remains a challenge and our insight shows that for the majority of social landlords, lack of funding is the main barrier to making energy efficiency improvements to their housing stock. We can help social landlords overcome this with advice on access to funding to enable energy efficiency projects to progress. In addition, we also work with them to tackle the challenge of providing affordable warmth, to the most vulnerable tenants, through the wider education and engagement programmes npower can offer.?

For more information on npower?s Business and Social Housing division please visit www.npower.com/socialhousing.

ENDS

Notes to editors

??????????npower is one of the top energy suppliers to the UK business market, serving over 238,000 small to medium sized enterprise sites and around 17,000 industrial and commercial customers, with over 100,000 sites

?????????? npower is dedicated to helping UK businesses use energy more efficiently and therefore spend less money on their bills.? We aim to have a positive impact on the communities we serve and reduce our customers? carbon footprint whilst always improving our service to our customers.

????????? npower specialises in risk management solutions, including market-leading flexible energy purchasing, energy efficiency, and broader energy management functions, tailored to every size of business.

????????? npower is committed to helping its small business customers to improve their energy efficiency. npower smartstart offers business customers advice and guidance on reducing energy consumption. New business customers receive an energy monitor designed to improve their consumption awareness as well as access to a dedicated energy efficiency telephone helpline and website.

????????? For major energy users, npower offers multi-utility management consultancy to enable organisations to improve efficiencies right across the procurement/consumption chain.?

???????? npower customers include BT, Wembley Stadium plc, AstraZeneca and Sainsbury?s.

Source: http://www.npowermediacentre.com:80/Press-releases/Education-is-key-to-energy-efficiency-according-to-new-Head-of-Business-and-Social-Housing-at-npower-129d.aspx

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The man who gave us 'Dufnering' leads at the PGA

Jason Dufner lines up a putt on the eighth hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

Jason Dufner lines up a putt on the eighth hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

Jason Dufner celebrates after a birdie on the 11th hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

Jason Dufner reacts after missing a birdie putt on the 17th hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

Jason Dufner hits from the fairway on the 14th hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

Adam Scott, of Australia, celebrates after a birdie on the sixth hole during the second round of the PGA Championship golf tournament at Oak Hill Country Club, Friday, Aug. 9, 2013, in Pittsford, N.Y. (AP Photo/Charlie Neibergall)

PITTSFORD, N.Y. (AP) ? Jason Dufner is that guy who got caught on camera slumped against a classroom wall, gazing straight ahead with a blank stare, arms rigidly by his side.

"Dufnering," they called it.

He became an Internet sensation.

Maybe by the time he leaves Oak Hill, Dufner will be known as something else.

Major champion.

On Friday, Dufner came up about 18 inches short of a feat that's never been done ? shooting 62 in a major championship. As it was, he tied the scoring record with a 7-under 63 that pushed him to the lead midway through the PGA Championship.

"To join history, to shoot 63 in a major, that's pretty unbelievable," Dufner said. "To be leading the tournament, even better."

He heads to the weekend with a two-stroke lead over Adam Scott, Jim Furyk and Matt Kuchar, while eight other players are lurking within five shots of the lead.

For Dufner, it's a chance to shake off the low point of his pro career, when he squandered a four-stroke lead with four holes to play at the 2011 PGA in Atlanta.

After losing to Keegan Bradley in a playoff, Dufner didn't seem too upset. He said matter-of-factly that he expected to get more chances on the major stage.

Well here he is, two years later, back in contention for the title that slipped away.

"What's happened in the past with me in majors is in the past," Dufner said. "I'm still trying to chase it, still trying to learn from the mistakes I made in prior majors."

There weren't many mistakes on Friday. Dufner holed out from the fairway for eagle, rolled in a putt across the green for par and kept making birdies ? five in all ? until he stood 12 feet away from a shot at the lowest score in the 153 years of championship golf. He didn't give it a chance, acknowledging a case of the nerves for the first time all day.

Not even the tap-in for par was a gimme, the ball coming off the putter weakly but diving into the right corner of the cup.

"You couldn't have a better putt for a chance at history on the last hole," Dufner said. "I just didn't quite hit it hard enough."

Dufner didn't feel disappointed for long.

At rain-softened Oak Hill, where pelt-sized divots were flying and birdies were falling, Dufner tied the 36-hole record (9-under 131) at the PGA Championship, a mark he now shares with six other players.

His 63 broke the course record at Oak Hill held by Ben Hogan, Curtis Strange and Webb Simpson, who shot 64 about five hours earlier. Dufner became the 24th player to shoot 63 in a major ? Greg Norman and Vijay Singh, both in the Hall of Fame, did it twice.

And through it all, Dufner barely cracked a smile.

"He's very calm," said Steve Stricker, who had been the last guy to shoot 63 in a major and, in an interesting twist, played alongside Dufner. "I'm sure he was churning on the inside."

The possibilities were endless on a day that began with three hours of a steady rain until the sun broke through and took all the bite out of Oak Hill.

Simpson also had a chance at 63 until he made a bogey on the 16th hole of his round. U.S. Open champion Justin Rose shot 29 on the front nine. When the second round finally ended, 27 players remained under par ? this on a course that is stubborn when it comes to par. In five previous majors at Oak Hill, only nine players have finished the tournament in red numbers. Jack Nicklaus did it twice.

For all the low scores, Tiger Woods and Phil Mickelson were left behind.

Woods couldn't get anything going, exchanging birdies with bogeys during a poor putting round that led to a 70. He was at 141 and 10 shots back.

"Obviously, I'm going to have to put together a really good weekend," Woods said. "It's definitely gettable. Got to hit the ball in play and keep the ball near the hole so I can be aggressive with my putts."

Mickelson's swing apparently went missing in the three weeks since he won the British Open. He was all over Oak Hill and still managed a 34 on the back nine until his wild shots caught up with him. Another 71 left him 11 shots out of the lead.

Dufner's popularity has grown since April, when someone took that photo of him during a charity event as the teacher taught children how to relax and concentrate.

He embraced the craze, which seems to fit perfectly with his laid-back approach.

But there were nerves, no doubt, and Dufner showed them at the very end.

"It's tough when you're chasing history," he said. "You will be the first one to do something. I don't think I've been the first to do anything in my life. So it was a little nerve-racking for a Friday. It's usually the pressure you might feel toward the end of the tournament."

That part is still to come.

Scott is swinging the club beautifully, and his only flaw Friday was not holing enough birdie chances when the rain stopped. Even so, he was in the hunt on the weekend for the fourth time in the last six majors. He will be in the final group with Dufner on Saturday.

Henrik Stenson, a runner-up at Muirfield, had a 66 and joined Rose at 134, only three shots behind. Stricker and Robert Garrigus were another shot back.

After his historic round, Dufner gave up his cap, shirt and glove to the PGA for its museum.

The prize he really wants is the Wanamaker Trophy.

"I'm looking forward to a good weekend," Dufner said, "and maybe closing one of these out."

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-08-10-GLF-PGA-Championship/id-cffc04161e92431390d25ae3daabd775

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DWI checkpoint in Union Beach this weekend

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Source: http://www.app.com/article/20130809/NJNEWS/308090069/1004/NEWS01&source=rss

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Stocks down, poised for worst week since June

stocks

JeeYeon Park CNBC

7 hours ago

Stocks finished the week in negative territory, with major indexes logging their worst week since June, as investors found little reason to buy following the market's recent highs and amid ongoing worries about when the Fed may start to wind down its stimulus program.

"This is continuation of a sideways market that we've been experiencing for much of the week," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "There's no big catalyst that's out there that's pushing us forward or backwards."?

(Read more:?Marc Faber expects a crash?but likes these stocks)

The?Dow Jones Industrial Average fell 72.81 points to finish at 15,425.51, dragged by?Disney and?Home Depot. The Dow was down more than 130 points at its session low.

The?S&P 500 dropped 6.06 points to end at 1,691.42. And the?Nasdaq slid 9.02 points to close at 3,660.11. This week marks the weakest weekly volume on the S&P 500 since August since 2006.

For the week, the?Dow?tumbled 1.49 percent, the?S&P 500 slumped 1.07 percent, and the?Nasdaq?declined 0.80 percent.?IBM was the worst weekly performer on the Dow, while?Alcoa?rose.

Most key S&P sectors finished in the red for the week, led by?telecoms?and?financials, while?materials?finished higher.

Major averages have been dented this week amid uncertainty about when the Fed may start winding down its stimulus program. The Dow and S&P 500 have declined more than 1 percent each for the week. The Dow is poised to log its first weekly drop in seven.?

(Read more:?Art Cashin: The market 'check engine light' is on)

Most recently, Dallas Fed president Richard Fisher reiterated on Thursday that the central bank will likely begin cutting back on its massive bond-buying stimulus in September as long as economic data continues to improve.

"The assumption has been that September is a likely start date and the only thing that would hold them back is very disappointing economic news between now and then," said Albright. "But I'm not sure if the market is prepared for an abrupt end of the QE program ? the concept of tapering has led market participants to believe this would be a more drawn out event."?

China's benchmark?Shanghai Composite rallied 1 percent for the week to close above the 2,050 mark, lifted by better-than-expected industrial output numbers for July, plus a healthy increase in fixed asset investment in the first seven months of the year. Meanwhile,?Chinese consumer prices were unchanged in July on the previous month, and producer prices fell an annualized 2.3 percent.

"More spending is called for, while further acceleration in credit growth is discouraged. This approach requires significant improvement in capital allocation efficiency to work. There is no quick magic, and so patience and tolerance is still required," analysts at SG Global Economics wrote in a research note.

(Read more:?China's factories remain in deflation, producer prices show)

Meanwhile, a marginally weaker?yen helped Japan's benchmark?Nikkei index rebound from the previous day's one-month low. Dollar-yen traded at the 96.60 handle, after hitting a new seven-week low overnight.

JCPenney held losses after hedge-fund manager Bill Ackman?sent a second letter to the retailer's board, demanding a new meeting of the board and called for chairman Thomas Engibous to be replaced.

Meanwhile, sources close to JCPenney said Ackman's facts in the letter are incorrect.

BlackBerry soared after Reuters reported that the troubled smartphone maker is?looking to the possibility of going private. Shares have plunged more than 30 percent in the last three months amid increasing competition from?Apple and?Samsung.

Among earnings,?Priceline.com surged after the travel website posted earnings that?beat expectations and handed in a strong outlook. The stock is on the cusp of crossing above $1,000 a share. At least nine brokerages lifted their price targets on the company.

Lions Gate rose after the entertainment company posted earnings and revenue that topped Wall Street estimates.?

(Read more:?Taking stock of S&P quarterly earnings)

On the economic front, June wholesale inventories slipped 0.2 percent in June, missing expectations for a gain of 0.4 percent, according to a Reuters poll. Inventories declined 0.5 percent in the month prior.?

?Follow JeeYeon on Twitter:?@JeeYeonParkCNBC

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Rise Alarm Clock for iPhone, iPod touch, and iPad for free

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GBTA: Business travel spending to hit $1.12 trillion - Spice News ...

?

GBTA: Business travel spending to hit $1.12 trillion

[Thu 08/08/2013 08:22:09]

By James Wilkinson in San Diego

Worldwide spending on business travel is on the rise and expected to reach USD$1.12 trillion in 2013, according to the latest survey by the Global Business Travel Association (GBTA).

Business travel spending is on the rise

The ?GBTA BTI Outlook ? Annual Global Report and Forecast?, which details spending in 75 countries, was released at the GBTA Convention in San Diego yesterday (Aug 6 local time) where around 7000 delegates are gathered at the world?s largest business travel event.

The USD$1.12 trillion spending mark this year is on the back of an expected 5.4% increase on 2012, and growth is also expected in the coming years.

GBTA says steady business travel spending in the second half of 2013 is expected to lay the foundation for?8.2%?growth in?2014,?followed by?7.6%,?7.2% and?7.1%?growth in?2015, 2016?and?2017?respectively.

Emerging markets are leading the charge, with business travel spend expected to reach USD$196 billion in China (up 13.2%), $30.1 billion in Brazil (up 9.3%) and $22.1 billion in India (up 5.8%).

The United States leads the way with $262 billion in business travel spend (up 4.4%), while Australia is in 12^th with $21.1 billion (up 2.8%).

?This report shows that new opportunities are opening up in markets around the world for companies willing to invest in business travel to drive growth,? said GBTA Executive Director and COO, Michael W. McCormick.

?It also serves as yet another wake-up call for the U.S. and Europe to improve aging infrastructure, establish fiscal order and stay competitive, because emerging economies are increasingly focused on meeting their own fast-growing business travel needs.? ??

A number of European markets are flat or down, including Germany ($50.5 billion, up 1.1%), the United Kingdom ($40.2 billion, up 0.1%), France ($35.7 billion, down 2.1%), Italy ($32.7 billion, down 7.5%), Spain ($17.9 billion, down 8%) and the Netherlands ($17.8 billion, down 4.5%).

Russia continues to be the shining light in Europe, with 2.6% growth expected to take business travel spending to USD$20.4 billion.

It?s not all doom and gloom for Europe. GBTA says it ?expects that the worst in Europe is over? and the next five years ?should see a bounce back in business travel among all of Western Europe?s major markets?.

The report this year was sponsored by Visa and the company?s head of global commercial solutions, Tad Fordyce, said emerging markets have been the key to growth in business travel globally.

?This year?s global BTI shows the importance that emerging markets like China, Brazil and India play in the global business travel marketplace,? Fordyce said.

?With global business travel expected to experience continued growth in the next few years, China is projected to overcome the U.S. as the top business travel market in the world by 2016."

?

HM flew to San Diego with Qantas. The airline flies daily to Los Angeles from Brisbane, Melbourne and Sydney operating Airbus A380 and Boeing 747-400 aircraft, connecting to American Airlines flights to San Diego. On Qantas, expect top seats, entertainment, food, wine and service across every cabin. For bookings, visit www.qantas.com

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Source: http://www.spicenews.com.au/2013/08/08/article/GBTA-Business-travel-spending-to-hit-1-12-trillion/MDKVVSBKZC.html

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