OTTAWA (Reuters) - Canada's parliamentary budget office (PBO) sees the country's central bank holding its key interest rate at the current 1 percent until the second quarter of 2015 as slow global recovery and Ottawa's spending restraint drag on economic growth.
In its twice-yearly economic and fiscal outlook released on Monday, the PBO was more upbeat than the Conservative government on a return to surplus in the federal budget despite the sluggish growth. It predicted surpluses that were on average C$2.5 billion ($2.5 billion) higher than the government's forecasts, reflecting higher revenue projections.
The report's forecast of 1.5 percent economic growth in 2013 matches that of the Bank of Canada. The central bank said earlier this month the economy will likely reach full capacity and inflation will hit its 2 percent target by mid-2015.
By contrast, the PBO sees the economy "well below its potential GDP through 2015 and, as a result, the unemployment rate remains relatively stable, averaging 7.3 percent over 2013 to 2015."
"Consequently, PBO expects the Bank of Canada to maintain its policy interest rate at 1 percent until the second quarter of 2015 before gradually, but steadily, raising its policy rate," it said.
The PBO's assessment is based on its own economic outlook derived from partial information from the finance ministry, rather than any direct knowledge of monetary policy intentions.
The central bank has said it will probably raise rates after an unspecified "period of time," even as it acknowledges that the economy is expanding more slowly than it had forecast previously.
Analysts surveyed by Reuters before the central bank presented its latest forecasts predicted that move would come in the third quarter of 2014.
Canada's economy has long recovered from the 2008-09 recession but the unemployment rate remains higher than it was just before the crisis and exports and manufacturing have not returned to their pre-recession peaks.
The PBO sees the economy eventually picking up speed, with real gross domestic product growing by 2.6 percent over the 2015 to 2017 period and the jobless rate declining to 6.3 percent in 2017.
It sees a budget surplus in 2015-16 of C$3.7 billion versus the government's estimate of a surplus of just C$800 million that year, assuming spending cuts and revenue increases occur as planned.
(Reporting by Louise Egan; Editing by Peter Galloway)
NEW YORK -- When it comes to offensive production, the Phillies? outfield has been a sinkhole during the first month of the season.
Phillies outfielders entered Saturday afternoon?s game against the Mets at Citi Field with the second-worst combined on-base and slugging percentage (.562) in the majors. Only the Miami Marlins? outfield at .548 had a worse OPS than the Phillies outfielders.
It was a long time coming, but the Phillies finally got some thunder from their outfield in beating the Mets, 9-4, Saturday (see Instant Replay).
Domonic Brown, John Mayberry Jr. and Laynce Nix combined for four hits and five RBIs in 13 at-bats. Brown and Mayberry both homered to key a five-run fifth inning.
?That?s definitely good,? manager Charlie Manuel said. ?That?s what we?ve been waiting for. We?ve got to get it more often.?
Mayberry started in center field as Ben Revere got his third day off with a strained left quad muscle. It?s not clear which is hurting more, Revere?s quad or his batting average (.207) and on-base percentage (.242). It?s likely that Revere will get another day off Sunday as Manuel could stick with the right-handed hitting Mayberry against Mets? lefty Jonathon Niese.
Eventually, the Phillies will insert Delmon Young into their outfield. He?s in the home stretch of his rehab from offseason ankle surgery. Young is currently playing on minor-league rehab at Triple A Lehigh Valley. He got a planned day off Saturday night.
The Phillies arrived in New York after three straight losses to the Pittsburgh Pirates. They scored just seven runs in those three games and were a dreadful 4 for 29 with runners in scoring position.
In two games against the Mets -- both wins -- the Phils have scored 13 runs while going 7 for 18 with runners in scoring position.
?We?ve got to do better,? Brown said. ?This is more like we?re capable of.?
Most of Saturday?s offense came at the expense of Mets? right-hander Shaun Marcum, who lasted just four innings in his first start of the season, and lefty reliever Robert Carson, who was tagged for four hits and five runs in the fifth inning.
All this offense helped make a winner out of 22-year-old Jonathan Pettibone in his second big-league start. Pettibone was not sharp -- he threw 96 pitches in five innings -- but he protected the lead well, minimized damage and picked up his first big-league win.
He even came away with a souvenir from the game. As he spoke with reporters he reached into his locker and produced a ball that looked as if it had been retrieved from the bottom of nearby Flushing Bay.
Ah, the ol? fake game ball trick.
As Pettibone laughed about the fake game ball, equipment man Phil Sheridan was gathering up an official scorecard and some legitimate game balls to give Pettibone a proper souvenir from his first win.
?It was definitely a battle from the first pitch on,? Pettibone said. ?My teammates picked me up.?
Pettibone, called up when John Lannan went on the disabled list, has earned another start.
?He?s in our rotation right now,? Manuel said. ?He deserves it.?
The Phillies, 11-14 on the season, are 4-11 in games started by Cole Hamels, Roy Halladay and Cliff Lee. They are 7-3 in games started by Pettibone, Lannan and Kyle Kendrick.
?Someone is going to pay for that,? Manuel said. ?Our top three starters will get hot.?
Pettibone actually helped the offense with his first big-league hit, a single that started a three-run rally in the third.
On the mound, he survived allowing three straight runners to open the fourth. He allowed just a sacrifice fly to keep things in check.
The Phillies? offense did its most damage in the fifth inning. Jimmy Rollins doubled and Michael Young walked with one out. Ryan Howard then came up and scorched a one-hopper toward shortstop Ruben Tejada. If Tejada comes up with the ball, it?s a double play. He did not come up with it, however. Rollins screened him just enough and the ball rocketed into the outfield for an RBI hit. Brown (a three-run blow) and Mayberry (a solo shot) followed with homers off Carson to give the Phils an 8-2 lead.
Howard has hit the ball hard in both games. He crushed a long homer to center in Friday night?s game.
If Tejada had been able to handle Howard?s smash in the fifth inning and start a double play, it could have been a backbreaker.
Manuel was more than happy to take the hit.
?That?s baseball,? he said. ?Sometimes things go your way. The other day, Cliff Lee pitched real well but gave up a couple Texas Leaguers. There?s a lot of luck in baseball. You can?t put a percentage on luck. There?s a lot of things that happen in a game that comes down to inches. When you?re going bad those little things can go against you.?
The Phillies? offense will get another boost Sunday when Carlos Ruiz returns from suspension (see story). Manuel said Ruiz would hit fifth or sixth in the lineup.
?He got a lot of big hits for us in the clutch last season,? Manuel said. ?We?re going to be better when he?s back. The guys here have done a good job, but Chooch is our regular catcher.?
New fatigue model leads to more durable shipsPublic release date: 23-Apr-2013 [ | E-mail | Share ]
Contact: Heikki Remes heikki.remes@aalto.fi 358-407-025-268 Aalto University
Heikki Remes, a researcher at the Aalto University in Finland, has developed a model making it possible to determine how fatigue sets in with various welded steel materials. The model allows for the development of lighter structures, and as a consequence, more energy-efficient ships.
- By utilising modern manufacturing technology and new materials, it is possible to achieve more efficient structures than the ones that currently exist. In addition, better physical models are needed to ensure structural strength, Remes says.
At present the fatigue measurements used by classification societies are based on the average quality of the weld. The same design guideline is used both with traditional and more advanced structures. However, through the development of manufacturing technology, it is possible to achieve characteristics for welded joints that are significantly better than average. With the models that have been developed, it is possible to consider the difference between traditional and advanced structural joints and the impact on fatigue resistance.
The study has been published in the International Journal of Fatigue. The findings of the study can be used extensively in establishing models for fatigue endurance of various developed welded steel structures. The goal is to predict fatigue endurance more accurately and to utilise material in the final product more efficiently.
###
The work is linked with a project of the Academy of Finland on fatigue in thin sandwich panel structures and with the BESST EU project to promote the competitiveness of the European shipbuilding industry. Also under preparation are national development projects within the Finnish Metals and Engineering Competence Cluster (FIMECC). The work also supports the national maritime industry research strategy commissioned by the Federation of Finnish Technology Industries.
The research has received funding from the Academy of Finland, Tekes, STX Europe, and the Finnish Maritime Foundation, Light project Finnish Metals and engineering Competence Centre
Further information:
Heikki Remes, D.Sc. (Tech.), Senior University Lecturer
Aalto University, Department of Applied Mechanics
P.O. Box 15300, 00076 Aalto
Tel: +358 407025268
Email: heikki.remes@aalto.fi
Link to images: http://aalto.digtator.fi:80/public/e241a56bc817.aspx
Image captions: The model allows for the development of lighter structures, and as a consequence, more energy-efficient ships.
Link to the academic journal article: http://authors.elsevier.com/sd/article/S0142112313000856
[ | E-mail | Share ]
?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
New fatigue model leads to more durable shipsPublic release date: 23-Apr-2013 [ | E-mail | Share ]
Contact: Heikki Remes heikki.remes@aalto.fi 358-407-025-268 Aalto University
Heikki Remes, a researcher at the Aalto University in Finland, has developed a model making it possible to determine how fatigue sets in with various welded steel materials. The model allows for the development of lighter structures, and as a consequence, more energy-efficient ships.
- By utilising modern manufacturing technology and new materials, it is possible to achieve more efficient structures than the ones that currently exist. In addition, better physical models are needed to ensure structural strength, Remes says.
At present the fatigue measurements used by classification societies are based on the average quality of the weld. The same design guideline is used both with traditional and more advanced structures. However, through the development of manufacturing technology, it is possible to achieve characteristics for welded joints that are significantly better than average. With the models that have been developed, it is possible to consider the difference between traditional and advanced structural joints and the impact on fatigue resistance.
The study has been published in the International Journal of Fatigue. The findings of the study can be used extensively in establishing models for fatigue endurance of various developed welded steel structures. The goal is to predict fatigue endurance more accurately and to utilise material in the final product more efficiently.
###
The work is linked with a project of the Academy of Finland on fatigue in thin sandwich panel structures and with the BESST EU project to promote the competitiveness of the European shipbuilding industry. Also under preparation are national development projects within the Finnish Metals and Engineering Competence Cluster (FIMECC). The work also supports the national maritime industry research strategy commissioned by the Federation of Finnish Technology Industries.
The research has received funding from the Academy of Finland, Tekes, STX Europe, and the Finnish Maritime Foundation, Light project Finnish Metals and engineering Competence Centre
Further information:
Heikki Remes, D.Sc. (Tech.), Senior University Lecturer
Aalto University, Department of Applied Mechanics
P.O. Box 15300, 00076 Aalto
Tel: +358 407025268
Email: heikki.remes@aalto.fi
Link to images: http://aalto.digtator.fi:80/public/e241a56bc817.aspx
Image captions: The model allows for the development of lighter structures, and as a consequence, more energy-efficient ships.
Link to the academic journal article: http://authors.elsevier.com/sd/article/S0142112313000856
[ | E-mail | Share ]
?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
There?s a lot of back and forth about the value of online ?engagement? for businesses.
Do customers want more engagement with the businesses they frequent? Do they care about it? Does the word engagement actually mean anything at all? Or is it just another feel-good buzzword?
A recent article from Harvard Business Review asserts that customers don?t care much about interaction with businesses ? instead they feel most engaged (and buy more) when they believe they share values with the company.
HBR?s position is that customers want to share a ?higher purpose? with business. This is extremely fashionable at the moment, with businesses all over the web switching to taglines that start with the words: We believe.
So do customers care what you believe?
For some businesses, the answer is clearly Yes. Matt Frazier over at No Meat Athlete runs a values-based business. Brands like Patagonia and Prius get a lot of mileage out of building a tribe around shared values.
But for dog food? Software? Web design? Air travel?
The Zappos model
One of the poster children for the ?values? argument is Zappos ? the online shoe store that operates around a celebrated set of core values.
Zappos uses their value statement as a kind of corporate DNA. Values like ?Deliver WOW through service? and ?Pursue growth and learning? let employees and customers know who the company is.
Their values statement informs the way the company looks and behaves. It tells the company how it should grow. It?s the template for the decisions they make and the processes they put into place.
Their core values are such an important part of Zappos that they print them on the packaging.
So the question becomes ? what is it that?s attracting the customer? Is it the statement of values on the side of the shoe box? Or is it the embodiment of values in the behavior of their employees?
Marketing is communication ?
My definition of marketing is ?Everything you communicate to your customers and prospects.?
Note that ?communication? isn?t always explicit. It isn?t even always conscious.
We ran through a Zappos-style values exercise at our recent all-hands company meeting for Copyblogger Media. And the conversations were fascinating.
Did we unearth any values that truly surprised anyone? Not really. We believe in making our customers more powerful. When there are problems, we believe in pitching in together to make things right. We treat each other with kindness and respect.
It was the process of articulating and sharing them that created the benefit. Maybe it?s as simple as standing up and saying that Yes, we believe in profit ? but that?s not the only thing we believe in.
So do you need a Zappos style values statement?
Sitting down together and figuring out your values can be a silly corporate time-waster, or it can be a meaningful and moving process. What makes the difference?
For me, working on our values with our whole team was tremendously powerful. (That?s a technique I stole from Tony Hsieh, Zappos? CEO.) Our developers and support crew and writers and designers are all very different from one another ? but seeing how similar we were in certain ways was eye-opening. And cool.
For another, we weren?t trying to come up with messages to print on the side of a shoe box. We were trying to figure out our own best selves ? how to behave in line with our strongest, wisest internal compass. And that translates directly into how we treat people ? customers, guest writers, colleagues, vendors, prospects ? everyone.
It?s still all about them. Always.
Back to the dog food and air travel question. Harvard Business Review asserts that people fly Southwest because they share the value of ?democratization of air travel,? and buy Pedigree dog food because they share the value that ?every dog deserves a loving home.?
Does that ring true to you? It doesn?t to me.
People buy the kind of dog food that they think will keep their dog happy and healthy, and that fits their family budget.
People fly Southwest because the people who work there are nice and the fares are cheap.
The values inside those companies may very well help deliver what customers want. Southwest?s values are key to that nice, friendly work force. Their values also allow them the efficiency to keep fares ultra low.
The secret isn?t necessarily in the values. It?s in giving customers what they want.
So if your values statement exists to make you feel awesome about yourself, maybe you should skip it. But if it helps you give customers exactly what they want, the way they want it, you?re probably on to something.
How about you?
Ever sat down and tried to figure out a formal values statement for your company, whether as a team or for yourself as a professional?
What was the most interesting thing you learned? I?d love to hear about it in the comments.
About the Author:Sonia Simone is co-founder and CMO of Copyblogger Media. Get more from Sonia on Twitter and Google+.
Apr. 12, 2013 ? American adults who prepare their own meals and exercise on the same day are likely spending more time on one of those activities at the expense of the other, a new study suggests.
The research showed that a 10-minute increase in food preparation time was associated with a lower probability of exercising for 10 more minutes -- for both men and women. The finding applied to single and married adults as well as parents and those who have no children.
Researchers analyzed nationally available data on more than 112,000 American adults who had reported their activities for the previous 24 hours. Of those, 16 percent of men and 12 percent of women reported that they had exercised on the previous day. And men spent, on average, almost 17 minutes preparing food, compared to an average of 44 minutes for women.
The average time spent exercising for the entire sample of adults, including those who did not exercise, was 19 minutes for men and nine minutes for women.
This means that the average respondent, male or female, spent less than an hour on both exercise and food preparation on the same day.
By inserting the data into statistical models, the researchers determined that there is a substitution effect for American adults who participate in these two time-consuming health behaviors on the same day.
"As the amount of time men and women spend on food preparation increases, the likelihood that those same people will exercise more decreases," said Rachel Tumin, lead author of the study and a doctoral student in epidemiology in The Ohio State University's College of Public Health. "The data suggest that one behavior substitutes for the other."
The findings suggest that public health recommendations should not be made in isolation of one another, but should take into account the time available to devote to health-promoting behaviors on a given day, Tumin said.
"If we assume, for example, that adults have 45 minutes of free time to allocate to health-promoting behaviors, maybe we need to look at that holistically and determine the optimal way to use that time," she said.
Tumin presented the research Friday (4/12) at the annual meeting of the Population Association of America in New Orleans.
Using data from the American Time Use Survey, a U.S. Census Bureau assessment of how people spend their time, Tumin and colleagues analyzed a sample of 112,037 adults who had provided responses between 2003 and 2010.
The researchers then identified leisure-time exercise and all activities related to food preparation, and divided these activities into 10-minute blocks of time for the purposes of statistical analysis.
Their main finding regarding time devoted to food preparation and exercise for adults: Rather than complementing each other, these two behaviors tend to substitute for one another in terms of time. This trend was true for single and married men and women, regardless of the presence of children.
One other finding stood out for single, childless men. In their case, 10 additional minutes of food preparation was associated with a 3 percent increase in the likelihood that these men would not exercise that day. In other words, Tumin said, more time spent preparing food led to a higher chance of not exercising on the same day.
"There's only so much time in a day. As people try to meet their health goals, there's a possibility that spending time on one healthy behavior is going to come at the expense of the other," she said. "I think this highlights the need to always consider the trade-off between ideal and feasible time use for positive health behaviors."
Tumin acknowledged that because the data in the national survey capture only one day's worth of activity, her analysis cannot determine if some people devote one day in the week to extensive meal planning as a way to free up their other days for exercise.
Even so, she said, there is plenty of evidence that time is scarce for most American adults, especially those who work full-time and have children. Previous studies have also shown that time spent preparing food and being physically active have declined in recent years. At the same time, increasingly sophisticated public health recommendations detail the many ways in which Americans can behave to improve their well-being.
Some of those behaviors take little or no time at all, including not smoking, avoiding excessive alcohol intake, reducing fat in the diet and increasing fruit and vegetable intake. Exercise and food preparation, on the other hand, require an investment of time to be most effective.
"For time-intensive behaviors, public health officials may need to triage their recommendations by how much total time they think people have to spend on these activities each day," Tumin and her colleagues concluded. "If adults have a set time budget to devote to healthy behaviors, then recommendations should be tailored to make efficient use of that time budget."
Co-authors of the study include Lindsey Asti and Sadie Palmisano, graduate students in the Division of Epidemiology in Ohio State's College of Public Health, Ananya Jena, a researcher with Ohio State's Comprehensive Cancer Center, and Dmitry Tumin, a doctoral student in Ohio State's Department of Sociology.
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Audrie Pott, 15, from California, and Canadian Rehtaeh Parsons,?17, killed themselves, their families say, after images of their being sexually assaulted were posted online.
By Stacy Teicher Khadaroo,?Staff writer / April 12, 2013
A Northern California sheriff's office has arrested three 16-year-old boys on accusations that they sexually battered 15-year-old Audrie Pott, who hanged herself eight days after the attack last fall.
Family photo provided by attorney Robert Allard/AP
Enlarge
Less than a month after two boys were sent to juvenile prison for raping a girl in Steubenville, Ohio, allegations of teens circulating online images of sexual violence are again coming to light ? this time with the added tragic element of suicide.
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1 in 4 teens in a relationship say they have been called names, harassed or put down by their partner through cell phones and texting.
Fifteen-year-old Audrie Pott killed herself last year after boys from her school sexually assaulted her while she was unconscious at a party, her family?s attorney says, adding that photos of the assault were spread online.
Three 16-year-old boys who attended Saratoga High School in California at the time of the attack were arrested Thursday on suspicion of sexual battery.
In Nova Scotia, Canada, public pressure prompted a government investigation into a similar case. Seventeen-year-old Rehtaeh Parsons killed herself last weekend, and her family says it followed months of bullying stemming from an online photo of her rape by four schoolmates.
In Ohio, legal authorities are considering charging people who were aware of but did not report the Steubenville rape after related information and images spread on social media.
?Very frequently with sexual assaults and exploitation [among teens], it?s being used as the priming of the pump to make you cooler and more popular online, because you have access to those images,? says New Jersey-based cyberbullying expert Parry Aftab. Kids are increasingly like reality-show producers ? watching how big of an audience they can get on their web pages, she says.
?We?re seeing a huge growth in offline assaults connected to online provocation or publication,? Ms. Aftab says.
When she says ?provocation,? Aftab is referring to cases such as a girl who created a fake Facebook page in the name of another girl and put up sexual images to provoke harassment and gang attacks against her.
For victims of sexual assault, a second wave of tragedy comes when pictures show up online. ?When you get these sexual images out there, a lot of kids who were their friends will blame them ? the same things rape victims have always [faced],? Ms. Aftab says. ?So they are very isolated, there?s no one to talk to ? and we?re seeing more and more suicides and self harm.?
Advocates for victims want them to know there are supporting resources available (see below), and they hope cases that receive widespread media attention will help generate more education about prevention.
Sixty-three percent of sexual assaults are never reported to authorities, says Tracy Cox, communications director for the National Sexual Violence Resource Center (NSVRC) in Enola, Penn. The victim in Steubenville didn?t want to press charges at first, Ms. Cox says, but her family was a tremendous support system and they ?identified that this is not OK, this is a crime, this should not be tolerated.?
Some victims, as seems to be the case in Saratoga and Nova Scotia, don?t find that hope or resilience in time, and instead turn to suicide.
Audrie Pott?s family wanted her name published, partly to raise awareness about the issues, their lawyer, Robert Allard said. A press conference is scheduled for Tuesday for Mr. Allard and the family to discuss the case, a possible civil suit, and a law they want to propose related to sexual assault and cyberbullying.
Teens? pervasive use of digital and social media is a double-edged sword in these situations, Cox says, because it makes the impact on victims much worse, but it is also ?aiding prosecutors in gathering evidence to bring this to justice.?
Facebook's biggest foray into cellphone software, Home, is now officially available to the cellphone masses. Or at least for the mass of AT&T subscribers who want to buy the $99 new HTC First. And those who already own an Android phone?or at least an HTC One X, HTC One X+, Samsung Galaxy S III, Samsung Galaxy Note II, or, next month, Samsung Galaxy S IV?can download the software from the Google Play store right now. Not only all that, but for those of who just want Chat Heads?arguably the best part of Facebook's surprisingly innovative Facebook-first platform?there's even a separate Facebook Messenger app download. All of which leaves all of you with a lot of choices, we know, for a totally new thing that might be a little too different from your normal everyday mass cellphone experience. For those having trouble deciding whether to take the plunge, we put together this little personality guide for the dawn of the "Facebook phone" era.
RELATED: An Early Version of Facebook Home Is Out in the Wild
If You're a Facebook Addict, or Aspiring to Be One. You should get the HTC First, which comes with Facebook Home preinstalled. It's only $99, and we hear it's a really addictive?even if it's for those types of Facebook obsessed peons. So, you might as well give in to your addiction and buy the darn thing. That way you can have the the social network greet you... before even unlocking the screen. If you need a quick fix, just feign checking the time or your messages to get some sweet, sweet social media time.?
RELATED: Facebook Will Finally Resolve Rumors of the Fabled Facebook Phone in One Week
If You're a Recovering Facebook Addict.?You should get an iPhone. It doesn't sound like Home will come to an iOS operated screen any time soon. Any of the Android devices will only tempt you, and it's so easy to fall off the wagon. Do yourself a favor and buy a phone that requires more than zero swipes to get to the Facebook app.?
RELATED: Instagram Snobs Instahate Facebook Deal
If You're of the Tech Elite or Aspiring to Be. You probably own an iPhone. But, say you happen to have one of the fancier Androids. Well, then you should download or update the Facebook Messenger app. Then you can use Chat Heads, which despite a name has everyone made fun of?and now dispute!?have definitely received the "cool" seal of approval.?
RELATED: Your Smartphone Is Spying on You
If You Can Decide If You Like a Product Without Reading Multiple 3,000 Word Reviews.?Since Facebook Home costs zero dollars, you might as well just download it on your phone via the Google Play store right?here?and give it a whirl. It takes very little time, and if you don't like it, hell, you can just?get rid of it. If you don't own one of the Android devices that's compatible with Home, have a friend download it for you. Or head on over the an AT&T store and play around with the HTC First. It seems pretty fun. Happy Home-ing.
NEW YORK (AP) ? Bruno Mars isn't the only singer in the family.
The 27-year-old Grammy winner's four sisters will appear in a WEtv reality series documenting the recording process of their debut album, the cable network announced Wednesday.
The show will air this fall. It will include eight hour-long episodes.
Tiara, Tahiti and Presley Hernandez are moving from Hawaii to Los Angeles to join their older sister Jamie. The sisters perform as The Lylas.
Mars, who was born Peter Hernandez, moved from Hawaii to live with Jamie in Los Angeles in 2002 after he graduated from high school. He released his platinum-selling debut, "Doo-Wops & Hooligans," in 2010 and last year released his sophomore album, "Unorthodox Jukebox." His No. 1 hits include "Locked Out of Heaven," ''Just the Way You Are" and "Grenade."
FILE - In this Friday, Oct. 26, 2012, file photo, a woman walks past laptop computers running Microsoft Windows 8 operating system during its launching ceremony in Hong Kong. Research firm IDC says PC global shipments of PCs fell 14 percent in the first three months this year. The appeal of tablets and smartphones is pulling money away from PC sales, but it also blames Microsoft's latest version of Windows, which forces users to learn new ways to control their machines. (AP Photo/Kin Cheung, File)
FILE - In this Friday, Oct. 26, 2012, file photo, a woman walks past laptop computers running Microsoft Windows 8 operating system during its launching ceremony in Hong Kong. Research firm IDC says PC global shipments of PCs fell 14 percent in the first three months this year. The appeal of tablets and smartphones is pulling money away from PC sales, but it also blames Microsoft's latest version of Windows, which forces users to learn new ways to control their machines. (AP Photo/Kin Cheung, File)
SAN FRANCISCO (AP) ? If fewer people are interested in buying a new personal computer, then fewer investors want to own stakes in companies whose fortunes are tied to the sales of laptop and desktop machines.
That logic ruled Thursday as Wall Street reacted to fresh evidence that PCs are turning into a dying breed of technology as consumers and businesses embrace smartphones and tablet computers as their preferred computing devices.
The stocks of PC software maker Microsoft Corp. and PC maker Hewlett-Packard Co. absorbed significant hits on the news that PCs suffered an unprecedented sales decline during the first three months of the year. Other companies connected to the PC industry, such as Intel Corp., also were affected, although not to the same degree as the industry bellwethers.
Microsoft's stock fell $1.35, or 4.4 percent, to close at $28.93, while HP's shed $1.44, or 6.5 percent to finish at $20.88. Intel shares decreased 43 cents, or nearly 2 percent, to $21.83.
First-quarter shipments of PCs plummeted by 11 percent to 14 percent from a year earlier, according to separate estimates issued late Wednesday by Gartner Inc. and International Data Corp.
By either measure, it was biggest decrease recorded by either research firm since they began tracking PCs sales. For IDC, the data goes back to 1994 ? just before Microsoft released a revamped PC operating system called Windows 95, which played a major role in triggering a sales boom that turned laptop and desktop machines into a household staple.
Microsoft hoped to revive PC demand last year with the debut of the most dramatic makeover of Windows since the 1995 redesign. The changes imbued Windows with some of the qualities of mobile software, including touch-screen controls and a display of applications in a mosaic of interactive tiles.
Although Microsoft says it's happy with the more than 60 million copies of Windows 8 that have been sold since its October release, analysts have been disappointed.
In its report, IDC blamed Windows 8 for accelerating the sales decline by confusing too many people who had become accustomed to using the old operating system. Another problem: The PCs designed to run on Windows 8 are coming in a befuddling array of styles and are demanding significantly higher prices than older models, at a time when the initial out-of-pocket expense for a smartphone is as low as $99 and tablet computers go for less than $200. In a sign of how sensitive consumers have become to prices, Amazon.com Inc.'s top-selling laptop is a $249 Samsung laptop running a new operating system based on Google's Chrome Web browser.
Count Sterne Agee's Shaw Wu among the analysts worried about the future of Microsoft and its partners in the PC industry. "We frankly believe (Microsoft's) strategy of forcing user interface changes that nobody wants has proven to be a disaster," Wu wrote in a Thursday research note.
Nomura Securities analyst Rick Sherlund also took a dimmer view of Microsoft's future prospect as he lowered his recommendation on the company's stock from a "buy" to "neutral." In a Thursday note, Sherlund asserted that about half of all consumers now see little reason to buy a PC or any other device running on Windows.
Microsoft may try to lure back consumers by offering less expensive devices.
The company, which is based in Redmond, Wash., is now developing a smaller version of its Surface tablet to compete with similar-sized devices made by Apple Inc., Google Inc. and Amazon.com Inc., according to a report in The Wall Street Journal, which cited anonymous people familiar with the matter. A Surface tablet with a 7-inch screen could hit the market this year, the Journal said.
Microsoft declined to comment Thursday.
Analysts say sales of the Surface with a 10.6-inch screen have been sluggish, despite an expensive marketing campaign.
Sherlund questioned whether Microsoft will ever pose a serious threat to Apple's iPad, Google's Nexus, Amazon's Kindle Fire and a variety of other tablets running on Google's Android software. "If the need is just for a tablet, Microsoft is not the first or second choice in the market and Windows 8 does not change that dynamic," Sherlund wrote.
HP, the world's largest PC maker, has been suffering sales declines with the rest of the market. Its PC shipments plunged by 24 percent in the first quarter. The company, which is based in Palo Alto, Calif., had been hoping to bounce back with the release of Windows 8. With those hopes dashed, HP is now making a laptop that runs on the Chrome operating system. CEO Meg Whitman is also trying to expand the company's more profitable businesses, such as business software, data analysis and consulting.
Intel, whose chips are in 80 percent of the world's personal computers but a laggard in mobile devices, is hoping to boost its revenue with a new line of microprocessors better suited for tablets and lightweight laptops. Among other things, the new chips consume less power so battery life lasts longer ? an increasingly important factor in an era of mobile devices.
Blair is back! On April 29, when "One Life To Live" starts its new life online (weekdays, via Hulu, Hulu Plus and iTunes), Kassie DePaiva will once again bring to life Blair Cramer -- part sexy single mom and part club-running businesswoman, with a sprinkling of mischief thrown in for good measure.
NEW YORK (AP) ? Bruno Mars isn't the only singer in the family.
The 27-year-old Grammy winner's four sisters will appear in a WEtv reality series documenting the recording process of their debut album, the cable network announced Wednesday.
The show will air this fall. It will include eight hour-long episodes.
Tiara, Tahiti and Presley Hernandez are moving from Hawaii to Los Angeles to join their older sister Jamie. The sisters perform as The Lylas.
Mars, who was born Peter Hernandez, moved from Hawaii to live with Jamie in Los Angeles in 2002 after he graduated from high school. He released his platinum-selling debut, "Doo-Wops & Hooligans," in 2010 and last year released his sophomore album, "Unorthodox Jukebox." His No. 1 hits include "Locked Out of Heaven," ''Just the Way You Are" and "Grenade."
President Barack Obama, accompanied by acting Budget Director Jeffrey Zients, speaks in the Rose Garden of the White House in Washington, Wednesday April 10, 2013, to discuss his proposes fiscal 2014 federal budget. (AP Photo/Susan Walsh)
President Barack Obama, accompanied by acting Budget Director Jeffrey Zients, speaks in the Rose Garden of the White House in Washington, Wednesday April 10, 2013, to discuss his proposes fiscal 2014 federal budget. (AP Photo/Susan Walsh)
Graphic shows major points of President Obama's FY 2014 budget and comparisons with other plans
WASHINGTON (AP) ? Advocates for seniors say President Barack Obama is breaking his promise to protect Social Security, while conservatives say he is breaking his promise not to raise taxes on the middle class.
Obama's budget proposal includes a mix of tax increases and benefit cuts in an effort to reduce government borrowing and spark the still-fragile economy. Obama says it is the kind of balanced approach that is necessary to tame runaway budget deficits.
But advocates from across the political spectrum are reminding the president of his past campaign promises.
"Clearly it will be up to members of Congress to set fiscal priorities that actually represent the needs of the average citizens they were elected to represent," said Max Richtman, head of the National Committee to Preserve Social Security and Medicare. "The president's budget is not the balanced plan promised to Americans before November's election."
Obama's budget blueprint would increase taxes by $1 trillion over the next decade. Most of the tax increases would target wealthy households and corporations, though some, including a tax increase on cigarettes, would hit low- and middle-income families, too.
At the same time, Obama's plan would trim benefit programs like Social Security and Medicare while adding new spending on infrastructure and early childhood education.
The most sweeping proposal is to adopt a new measure of inflation for the government, which would gradually reduce benefits and raise taxes at the same time.
Called the chained Consumer Price Index, the new measure would show a lower level of inflation than the more widely used Consumer Price Index. The change could have far-reaching effects because so many programs are adjusted each year based on year-to-year changes in consumer prices.
Starting in 2015, Social Security recipients, military retirees and civilian federal retirees would get smaller benefit increases each year. Taxes would gradually go up because of smaller annual adjustments to income tax brackets, the standard deduction and the personal exemption amount.
Most of the savings would come from Social Security. On average, the new measure would reduce annual cost-of-living adjustments, or COLAs, by 0.3 percentage points. This year, the COLA was 1.7 percent. Under the new measure, it would have been about 1.4 percent.
Obama rarely mentioned Social Security during his re-election campaign in 2012. But four years earlier, he was more forthcoming, and some liberal groups have been circulating the video evidence.
In a 2008 speech to AARP, Obama laid down this marker: "John McCain's campaign has suggested that the best answer for the growing pressures on Social Security might be to cut cost-of-living adjustments or raise the retirement age. Let me be clear: I will not do either."
On Wednesday, Obama said he was compromising.
"I don't believe that all these ideas are optimal, but I'm willing to accept them as part of a compromise if and only if they contain protections for the most vulnerable Americans," Obama said.
Some programs, including anti-poverty programs like food stamps and Supplemental Security Income, would be exempt from the new inflation measure. College Pell grants would also be exempt, as would benefit levels in the president's new health care law.
There would also be provisions to reduce the impact on older Social Security recipients and those who receive Social Security disability benefits for at least 15 years.
In all, the new measure would reduce scheduled benefits by $130 billion over the next decade, according to administration estimates. It would raise taxes by $100 billion.
Low-income taxpayers would see the biggest tax increases because much of their income is not currently subject to the federal income tax.
Republicans note that Obama has repeatedly promised to spare low- and middle-income families from tax increases.
Obama's proposal would increase the federal tax on cigarettes from $1.01 a pack to $1.95. The new cigarette tax would raise an estimated $78 billion over the next decade to pay for preschool programs for children.
The cigarette tax is popular among health care advocates who believe it provides the additional benefit of encouraging smokers to cut back or quit.
"Raising the price of tobacco products is one of the most effective approaches to encouraging people to quit and preventing kids from picking up the deadly habit in the first place," said Christopher Hansen, president of the American Cancer Society's Cancer Action Network.
The tobacco industry promptly criticized the proposal.
"We think it is blatantly unfair to single out adult tobacco consumers with another federal tobacco tax increase to pay for a broad, new government spending program claimed to have benefits for everyone," David Sutton, a spokesman for Altria Group Inc., owner of the nation's biggest cigarette maker, Philip Morris USA, said in a statement. "Moreover, excise taxes are regressive, disproportionately burdening middle- and lower-income consumers ? the very same consumers who have already endured five years of a stagnant economy and high unemployment."
The biggest tax increase in Obama's budget would limit the value of itemized deductions for wealthy families. The limits would apply to all itemized deductions, including those for mortgage interest, charitable contributions and state and local taxes. They would also apply to tax-exempt interest, employer-sponsored health insurance and income exclusions for employee retirement contributions.
The proposal would raise $529 billion over the next decade.
Charitable groups have already mounted a lobbying campaign to oppose the limits because they are worried they would discourage wealthy people from donating. Obama has made similar proposals in previous budgets and received lukewarm responses from fellow Democrats. Most Republicans oppose them.
___
Associated Press reporter Michael Felberbaum in Richmond, Va., contributed to this report.
___
Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap
The?Write On Online April Meeting will be on?Blog Talk Radio this Wednesday, April 10. Our guest will be?Amy Friedman, author of?Desperado?s Wife.?RSVP on Facebook. Call in (646-381-4910) or listen?online.
Post your May Goalson Write On Online or Facebook and be entered in a drawing to win a book from?Michael Wiese Productions. Congratulations to our March goal-posting winner John Bezpiaty, who won a copy of Alfred Hitchcock?s Moviemaking Master Class: Learning about Film from the Master of Suspense by Tony Lee Moral, thanks to Michael Wiese Productions.
Write On Online has regular, ongoing content, including Q&As ? this month, I did interviews with Peter Mehlman, Mandela Was Late,?Marilyn Anderson, Never Kiss a Frog, and playwright Gary Lennon, ?A Family Thing;??Write On! Wednesdays; Guest Columns, like this month?s post on Writing ?Smummy? from Arlene Schindler and Steve on Screenwritingby Steve Kaire; and more!
NEWS
Guided Goals is?my new?Write On! companion site. I offer one-on-one and in-box?coaching services, as well as tools and advice to put you on the path to success. Thanks,?Steven Swimmer, Swimmer Media, for helping me with the site relaunch and strategy!
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Antioch University Santa Barbara?s Summer Writing Institute is still taking applications! The week-long workshop in fiction, nonfiction, screenwriting or writing for young people runs from July 28 to August 3. Faculty includes novelist Gail Tsukiyama, best-selling YA author R.L. LaFevers, screenwriters David W. Rintels and Robin Swicord, and noted memoirists Diana Raab, and Maureen Murdock.
EVENTS
April 10 ? 12:Editing and publishing conference in Perth, Western Australia.??With freelancing and digital publishing workshops.
April 12 ? 14: The first-ever?Big Sur Screenwriting Workshop. ?Like? them on?Facebook for guest updates and more information.
April 17:Write On! IRL Writers Break at?Capital One 360 ? Los Angeles Caf? (formerly?ING Direct Cafe ? Los Angeles), 11175 Santa Monica Blvd, Los Angeles, from 1 to 3pm.?LA Writers, swing by the cafe for coffee and conversation.?Like the cafe on?Facebook and follow them on?Twitter.RSVP on Facebook.
April 17:Social Media Club Los Angeles panel on?Using Social Media for Social Good at the Museum of Flying in Santa Monica starts at 6:30pm. Panelists are Alexis Henry, Communications Manager,?Surfrider Foundation; Liz Kelly, Founder,?The Goody Awards; and Mark Horvath, Director,?InvisiblePeople.
April 21:Sacred Journeys Film Festival from Michael Wiese Productions and Sacred Arts Media at Melrose Market Studios in Seattle, WA.
April 24:IABC (International Association of Business Communicators)?Los Angeles chapter mixer at the Big Foot West Lounge in West LA starts at 6pm.
April 26:Free Lunch Friday for entrepreneurs in Los Angeles, Orange County, and more. Additional cities launching soon!
May 4: Join screenwriting powerhouse?Pilar Alessandra and sought-after screenwriting career coach?Lee Jessup for?Cracking Your Screenwriting Career: From Representation to Pitch, a screenwriting masterclass covering all things business.?Use discount code?group10 and receive 10% off.
Fridays: Silicon Beach LA Weekly Unwind in Santa Monica, CA.
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A novel study shows women who undergo surgical treatment for endometriosis have a lower risk of developing ovarian cancer. According to results published in Acta Obstetricia et Gynecologica Scandinavica, a journal of the Nordic Federation of Societies of Obstetrics and Gynecology, hormonal treatments for endometriosis did not lower ovarian cancer risk.
Endometriosis is a common, and often painful, gynecological disease where tissue normally found inside the uterus, grows elsewhere in the body. According to the World Health Organization this estrogen-dependent disease affects roughly 14% of women of childbearing age. The National Institutes of Health (NIH) estimates that more than 5.5 million women in North America have endometriosis, and if left untreated can cause infertility in up to 40% of women who are unable to conceive.
Prior research shows an increased risk of several cancers, including ovarian cancer, in women with endometriosis. Some studies have found a protective effect against ovarian cancer with surgical interventions, such as hysterectomy or tubal ligation. Lead author, Dr. Anna-Sofia Melin from the Karolinska Institute and Karolinska University Hospital in Stockholm, Sweden explains, "Patients with endometriosis are typically treated with hormones, or in more severe cases, with surgery. We wanted to expand understanding of ovarian cancer risk in women with endometriosis who had some type of surgery or hormone therapy."
Using the National Swedish Patient Register, the team identified women diagnosed with endometriosis between 1969 and 2007. The National Swedish Cancer Register was then used to link women who were diagnosed with epithelial ovarian cancer at least one year following a diagnosis of endometriosis. Information on hormonal and surgical treatments was taken from medical records of the 220 women with endometriosis and ovarian cancer (cases) and 416 women with endometriosis only (controls).
Findings indicate a significant association between the surgical removal of an ovary (oophorectomy) and ovarian cancer risk. A significant link between ovarian cancer risk and radical removal of all visible endometriosis was also found. "Our study suggests that surgical removal of an ovary and removal of visible endometriosis protects women from developing ovarian cancer at a later point," concludes Dr. Melin. "For women with endometriosis, the role of hormonal treatment and future ovarian cancer risk remains unclear and further investigation is warranted."
###
This study is published in Acta Obstetricia et Gynecologica Scandinavica. Media wishing to receive a PDF of the article may contact sciencenewsroom@wiley.com.
Full citation: Hormonal and Surgical Treatments for Endometriosis and Risk of Epithelial Ovarian Cancer." Anna-Sofia Melin, Cecilia Lundholm, Ninoa Malki, Marja-Liisa Swahn, Par Sparen and Agneta Bergqvist. Acta Obstetricia et Gynecologica Scandinavica; Published online: April 11, 2013 (DOI: 10.1111/aogs.12123)
Author Contact: To arrange an interview with Dr. Melin, please contact Katarina Sternudd with Karolinska Institute at Katarina.sternudd@ki.se.
About the Journal:
Acta Obstetricia et Gynecologica Scandinavica is the official scientific journal of the Nordic Federation of Societies of Obstetrics and Gynecology (NFOG). It is a clinically oriented journal that covers all aspects of obstetrics, gynecology and reproductive health, including perinatology, gynecologic endocrinology, female urology and gynecologic oncology. The journal is published in English and includes: editors messages, editorials, Acta commentaries, Acta reviews and original articles under the main categories of investigation, pregnancy, birth, fertility, infection, gynecology, gynecologic urology, oncology and surgery. The journal is published by Wiley on behalf of the NFOG. For more information, please visit http://wileyonlinelibrary.com/journal/aogs.
About Wiley
Wiley is a global provider of content-enabled solutions that improve outcomes in research, education, and professional practice. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners.
Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia. The Company's website can be accessed at http://www.wiley.com.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
A novel study shows women who undergo surgical treatment for endometriosis have a lower risk of developing ovarian cancer. According to results published in Acta Obstetricia et Gynecologica Scandinavica, a journal of the Nordic Federation of Societies of Obstetrics and Gynecology, hormonal treatments for endometriosis did not lower ovarian cancer risk.
Endometriosis is a common, and often painful, gynecological disease where tissue normally found inside the uterus, grows elsewhere in the body. According to the World Health Organization this estrogen-dependent disease affects roughly 14% of women of childbearing age. The National Institutes of Health (NIH) estimates that more than 5.5 million women in North America have endometriosis, and if left untreated can cause infertility in up to 40% of women who are unable to conceive.
Prior research shows an increased risk of several cancers, including ovarian cancer, in women with endometriosis. Some studies have found a protective effect against ovarian cancer with surgical interventions, such as hysterectomy or tubal ligation. Lead author, Dr. Anna-Sofia Melin from the Karolinska Institute and Karolinska University Hospital in Stockholm, Sweden explains, "Patients with endometriosis are typically treated with hormones, or in more severe cases, with surgery. We wanted to expand understanding of ovarian cancer risk in women with endometriosis who had some type of surgery or hormone therapy."
Using the National Swedish Patient Register, the team identified women diagnosed with endometriosis between 1969 and 2007. The National Swedish Cancer Register was then used to link women who were diagnosed with epithelial ovarian cancer at least one year following a diagnosis of endometriosis. Information on hormonal and surgical treatments was taken from medical records of the 220 women with endometriosis and ovarian cancer (cases) and 416 women with endometriosis only (controls).
Findings indicate a significant association between the surgical removal of an ovary (oophorectomy) and ovarian cancer risk. A significant link between ovarian cancer risk and radical removal of all visible endometriosis was also found. "Our study suggests that surgical removal of an ovary and removal of visible endometriosis protects women from developing ovarian cancer at a later point," concludes Dr. Melin. "For women with endometriosis, the role of hormonal treatment and future ovarian cancer risk remains unclear and further investigation is warranted."
###
This study is published in Acta Obstetricia et Gynecologica Scandinavica. Media wishing to receive a PDF of the article may contact sciencenewsroom@wiley.com.
Full citation: Hormonal and Surgical Treatments for Endometriosis and Risk of Epithelial Ovarian Cancer." Anna-Sofia Melin, Cecilia Lundholm, Ninoa Malki, Marja-Liisa Swahn, Par Sparen and Agneta Bergqvist. Acta Obstetricia et Gynecologica Scandinavica; Published online: April 11, 2013 (DOI: 10.1111/aogs.12123)
Author Contact: To arrange an interview with Dr. Melin, please contact Katarina Sternudd with Karolinska Institute at Katarina.sternudd@ki.se.
About the Journal:
Acta Obstetricia et Gynecologica Scandinavica is the official scientific journal of the Nordic Federation of Societies of Obstetrics and Gynecology (NFOG). It is a clinically oriented journal that covers all aspects of obstetrics, gynecology and reproductive health, including perinatology, gynecologic endocrinology, female urology and gynecologic oncology. The journal is published in English and includes: editors messages, editorials, Acta commentaries, Acta reviews and original articles under the main categories of investigation, pregnancy, birth, fertility, infection, gynecology, gynecologic urology, oncology and surgery. The journal is published by Wiley on behalf of the NFOG. For more information, please visit http://wileyonlinelibrary.com/journal/aogs.
About Wiley
Wiley is a global provider of content-enabled solutions that improve outcomes in research, education, and professional practice. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners.
Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia. The Company's website can be accessed at http://www.wiley.com.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
WASHINGTON (Reuters) - President Barack Obama on Wednesday will issue a greatest hits list of ideas to raise $580 billion in new tax revenues over a decade, including a minimum tax on the wealthy and putting an end to some corporate tax breaks, administration officials said.
The president's 2014 budget proposal, expected to be released in full later on Wednesday, has no chance of moving forward in the divided U.S. Congress. But as lawmakers consider a revamp of the tax code and face a deadline on the government's debt limit this summer, some Obama measures could play a role.
The bid will revive Obama's offer last year to Republican House of Representatives Speaker John Boehner during the negotiations to avoid the so-called fiscal cliff of looming tax hikes and spending cuts.
Senior administration official previewed the budget on condition of anonymity to reporters ahead of the release.
Obama will officially propose a new "Buffett tax" named for investor Warren Buffett that phases in a minimum 30 percent tax rate on household income above $1 million, the advisors said.
He had earlier backed the idea but not included it in his budget proposals.
The White House also will bring back a long-running proposal to cap itemized deductions and exemptions among wealthier taxpayers - starting at household income of roughly $250,000.
The cap would apply to the same list of deductions in years past, officials said. That includes the charitable tax break and the exemption for municipal bond interest.
Obama is not seeking to raise individual tax rates as he has in prior budgets, according to a White House document. For years, he sought to raise rates on household income above $250,000.
The fiscal cliff deal raised rates for households earning more than $450,000 a year, from 35 percent to 39.6 percent.
Also in the budget is ending the tax break for "carried interest" profits earned by fund managers like those who run private equity and other investment firms, officials said.
Administration officials also said to expect the White House to pitch familiar ideas to limit energy tax breaks, curb tax shifting to low-tax countries like the Cayman Islands, and a bid to end a tax break for corporate jets.
Obama proposes cutting the top U.S. corporate tax rate to 28 percent from 35 percent, now the highest in the industrialized world.
Obama has said that he backs a full-scale revamp of the entire tax code, both individual and corporate, and a White House summary called the budget proposals a "down payment."
Top tax-writers in Congress also back a tax rewrite, but the process is fraught with disagreement over how to streamline the code and whether to raise new revenue in the process.
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Public release date: 23-Apr-2013
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