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NEW YORK, May 27 (Xinhua) -- U.S. stocks expanded gains on Friday ahead of the long Memorial Day weekend as surging commodity prices overcame disappointing economic data.European Central Bank Governing Council member George Provopoulos said that Greece might deal with its debt problem if it sticks to the aid program. That comment, which was considered as bullish by investors, drove the U.S. dollar weaker and led commodity prices surge on Friday.The stock market was driven by higher commodities prices, with thin trading volume ahead of the Memorial Day holiday, despite somewhat disappointing economic data on Friday.The Commerce Department said that both personal income and spending rose 0.4 percent in April, in line with market estimates. However, the rise in spending was the smallest in three months, suggesting the consumption situation was still weak.Meanwhile, pending home sales dropped 11.6 percent in April. The reading was a seven-month low. The market expectation was a drop of 1 percent.Moreover, the Thomson Reuters/University of Michigan Consumer Sentiment index came in above analysts' estimates. Concerns about higher gas prices and inflation had knocked the gauge down in March and April.Despite those disappointing data, analysts still held a bullish view toward the stock market. "Despite our near-term caution, we continue to see the S&P 500 reaching 1400 over the coming year," Alec Young, equity strategist of S&P Equity Research told Xinhua.According to Alex, while recent macro headwinds were raising questions about the sustainability of recent earnings momentum, he still believed that a downside trend of market was fairly limited and that the current weakness is more likely to be a correction, rather than the beginning of a new bear market."In our view, 2011 estimated EPS would have to be excessively optimistic to justify a bear market,"he added.The Dow Jones industrial average added 38.82 points, or 0.31 percent, to 12,441.58. The Standard & Poor's 500 was up 5.41 points, or 0.41 percent, to 1,331.10. The Nasdaq Composite Index rose 13.94 points, or 0.50 percent, to 2,796.86.
BEIJING, Jan. 21 (Xinhua) -- China's State Council, or Cabinet, Friday published the newly adopted regulations on expropriation of houses on state-owned land and compensation.The new rules, which took effect upon the issuing, took the place of the 2001 regulations on administration of the housing demolition and relocation in cities.The new rules specifically stated that neither violence or coercion may be used to force homeowners to leave. Nor could measures, such as illegally cutting water and power supplies, be used in relocation work.The new rules also banned land developers' involvement in the demolition and relocation procedures, as well as demolition by local governments without court approval.Moreover, the new regulations ensured fair prices for homeowners by providing that compensation for expropriated homes should be no lower than the sum of the market price of similar properties at the time of an expropriation.The regulations were first reviewed at a State Council executive meeting in December 2007. Later, public opinion was twice sought in 2010 after revisions had been made to the regulations.An executive meeting of the State Council Wednesday gave in-principle approval to the regulations.
BEIJING, May 24 (Xinhuanet) -- Facebook founder Mark Zuckerberg welcomed more kids to join in the social network site, according to International Business Times reports on Monday.He made this comment in the NewSchools Summit in California.Zuckerberg said Facebood can help young kids to learn from each other and acquire more knowledge about using the internet."That will be a fight we take on at some point," Zuckerberg said, "My philosophy is that for education you need to start at a really, really young age." At the moment, Facebook officially does not allow the children younger than 13 to sign up, since the Children's Online Privacy Protection Act (COPPA) forbids children under 13 from joining an online service which collects user information data.However it recently revealed that 7.5 million Facebook users were younger than that, accoding to a study released last week by Consumer Reports.Some experts suggested Facebook may not be in any position to provide that education in its current form. "The lessons of digital citizenship have to start young, but I don't feel that Facebook is the venue to have those lessons occur. A lot of missteps happen on that site without a lot of coaching." said Dr. Gwenn O'Keeffe, an expert on young children's education.
BEIJING, Feb. 14 (Xinhua) -- A recent circular of China's film and television watchdog to cut smoking scenes in films and TV dramas has received welcome from supporters of tobacco control.Xu Guihua, deputy head of China Association on Tobacco Control (CATC), a non-profit organization, said the order of the State Administration of Radio, Film and Television (SARFT) demonstrates government determination to protect public health rights."Frequent smoking scenes in films and TV dramas do not accord with China's stance on tobacco control and mislead the public, especially the youth," said the SARFT in a recent circular.Tobacco brands or signs and smoking scenes with juveniles present should not be allowed to appear in films or TV dramas, it said, adding that scenes which have to show smoking should "last as short as possible."Hailing the order, Xu said the communication through media including movies and TV is among those factors that can influence people's attitude toward smoking.Deng Haihua, a spokesman with China's Ministry of Health, also said the SARFT's move will help prevent people, especially the young, from being misled by smoking scenes on screens.In a survey report issued in August 2010, the CATC said it found smoking scenes in 31 movies and 28 TV series after monitoring 40 Chinese movies and 30 local TV series.Another survey by Beijing Municipal Center for Disease Control and Prevention also showed students tend to follow the fashion after seeing actors smoke on TV or in films.China has more than 300 million smokers and 540 million more suffering from secondhand smoke.What is especially worrisome is that 11.5 percent of the country's juvenile smoke and the ratio is even increasing, according to experts.
SAN FRANCISCO, March 20 (Xinhua) -- Boeing's 747-8 Intercontinental took to the sky for the first time on Sunday, a milestone for the U.S. aviation giant's latest and biggest passenger plane.Live webcast by Boeing showed that a 747-8 Intercontinental touched down at around 2:25 p.m. PST (2125 GMT) Sunday at the Boeing Field airport in Seattle in the U.S. states of Washington, after wrapping up the airplane's inaugural flight that lasted about four and half hours.During the test flight, the pilots did some system and function checks and everything went fine, according to the webcast.The new 747-8 Intercontinental can carry 467 passengers in a three-class configuration, said Boeing, which touted the new wide- body jet airliner as the only airplane in the 400-500 seat market.The Boeing 747-8 Intercontinental takes off on its maiden flight from Paine Field, in Everett, Washington, March 20, 2011. The 747-8 Intercontinental willseat 467 passengers, 51 more than the latest model of the classic 747, and burn less fuel while offering passengers more comfort, the U.S. planemaker says.Using 787-technology GEnx engines, the airplane will be quieter, produce lower emissions and achieve better fuel economy for airlines, Boeing said.The airplane also features a new wing design and an upgraded flight deck. Its interior incorporates features from the Boeing 787 Dreamliner including a new curved, upswept architecture that will give passengers a greater sense of space and comfort, while adding more room for personal belongings.Boeing has noted that compared with its predecessor, the 747- 400, the 747-8 Intercontinental provides 16 percent better fuel economy, 16 percent less carbon emissions per passenger and generates 30 percent smaller noise footprint, while carries 51 more passengers.Boeing in February said that Korean Air, VIP customers and launch customer Lufthansa have ordered a total of 33 747-8 passenger planes, with the first delivery scheduled for the fourth quarter of this year.It is reported that the 747-8 Intercontinental has a list price of about 317 million U.S. dollars.Earlier in March, Boeing announced that it has signed an agreement with Air China for the purchase of five 747-8 Intercontinental jetliners.