UE plans to launch rival bid for WBL Corp

SINGAPORE: Another corporate fight is brewing as property and engineering group United Engineers plans to launch a rival bid for WBL Corp at S$4 a share.

United Engineers said the company's growth has reached its peak after the property and construction firm raked in record revenue of S$1.19 billion in 2011.

The company is now looking for more recurring income.

To do that, United Engineers said it has to look beyond its home ground in Singapore for inorganic growth.

That is why it has offered to buy the remaining 61.7 per cent of WBL Corp that it does not own for S$687 million in an all-cash offer.

Jackson Yap, group managing director and chief executive officer of United Engineers Limited, said: "In property development, the earnings could be quite lumpy. When you have the project finishing, you have a spike in your earnings. So we are trying to spread it out and have a more recurring income.

"The auto business offers us that opportunity. It is a great business. We have seen quite good growth for them. We think that that is one of our core businesses if we are looking to take over."

United Engineers is eyeing on WBL Corp's business outside Singapore, particularly in China.

These include automotive, property development, technology and engineering.

Jack Wang from Lexico Advisory said there could be lucrative spin-offs if the acquisition is successful.

Mr Wang said: "You are not just buying one company. You are actually buying three segments of the business which I think if anyone is confident of about the fundamentals, you can spin-off some of the business, and you can get lots of value out of it."

United Engineers has the support from WBL Corp's major shareholders which include OCBC Group, Great Eastern, and the Lee Family.

Together they hold 38.3 per cent stake in WBL Corp.

United Engineers said it will fund the acquisition by internal funds and external borrowings.

WBL Corp's shares were halted for trading on Wednesday. Its shares last traded at S$4.20 apiece.

Major shareholder Straits Trading with some 44.6 per cent stake in WBL Corp has not commented on United Engineers' latest offer.

- CNA/fa

Read More..

RIM now rebranded to 'BlackBerry'

The new ticker symbols for BlackBerry.

(Credit:
Sarah Tew/CNET)

Research In Motion (RIM) is no more.

At the BlackBerry 10 launch event in New York City today, CEO Thorsten Heins announced that RIM has been retired for simply, BlackBerry. "Our customers use BlackBerrys, our employees work for BlackBerry," Heins said before a packed house.

With its name change comes a change to its ticker symbol. On the NASDAQ, the company has retired RIMM for BBRY.

The move is not so surprising. BlackBerry's customers were largely unaware of what "RIM" meant and what it stood for, and would commonly call the company "BlackBerry."

BlackBerry's Web site is still displaying the "Research In Motion" branding. However, the company is expected to remove all mention of its former name sometime today.

Click here to find out what else BlackBerry is announcing at its event.

This story has been updated throughout the morning.

Read More..

Giffords to Senate: 'Americans Are Counting on You'

Former congresswoman Gabrielle Giffords, whose congressional career was ended by a bullet wound to her head, opened a Senate hearing on gun violence today by telling the panel, "Speaking is difficult, but I need to say something important."

She told the Senate to be "courageous" because "Americans are counting on you."

Giffords sat alongside her astronaut husband Mark Kelly as she delivered her emotional statement just over a minute long imploring Congress to act on gun policy.

"This is an important conversation for our children, for our communities, for Democrats, and Republicans," the former Arizona congresswoman said. "Speaking is difficult but I need to say something important: Violence is a big problem too many children are dying. Too many children. We must do something. It will be hard, but the time is now. You must act. Be bold, be courageous, Americans are counting on you. Thank you," Giffords said before being helped out of the hearing room.

Giffords was shot by a gunman in her Arizona district two years ago, and was a last-minute addition to the hearing about the nation's gun laws as lawmakers grapple with how to curb gun violence in the wake of the Sandy Hook Elementary school tragedy that left 20 children and six adults dead late last year.

Today's hearing is a showdown on guns, featuring two powerful but conflicting forces in the gun control movement. Giffords' husband will also testify, as will Wayne LaPierre, the fiery executive vice president and CEO of the National Rifle Association.

They will testify before the Senate Judiciary Committee today in the first congressional hearing on gun violence since the deadly shooting at Sandy Hook Elementary School in Newtown, Conn. last month.

Newtown Families Join March on Washington Demanding Gun Control Watch Video

Gun Theft Fuels Violence in America: Gun Owners Now Targets Watch Video

Texas Man Allegedly Opens Fire After Being 'Bumped Into' Watch Video

Giffords has recently launched Americans for Responsible Solutions, an organization promoting the implementation of universal background checks and limits on high capacity magazines.

"Overwhelmingly, you told us that universal background checks and limiting access to high capacity magazines were top priorities, and I'll make sure to address each of those ideas in my opening remarks," Kelly wrote in an email to supporters Tuesday. Kelly asked the group's allies to sign a petition calling on Congress to pass legislation on both issues.

LaPierre, who states the NRA's opposition to universal background checks and urges legislators not to "blame" legal gun owners by enacting new gun control laws.

"Law-abiding gun owners will not accept blame for the acts of violent or deranged criminals. Nor do we believe the government should dictate what we can lawfully own and use to protect our families," LaPierre was to say Wednesday, according to prepared remarks released by the NRA.

"Proposing more gun control laws -- while failing to enforce the thousands we already have -- is not a serious solution to reducing crime," says LaPierre in his prepared text.

In the wake of the Newtown shooting, the NRA advocated placing armed security guards in every school in America, an initiative LaPierre will promote in Wednesday's hearing, arguing that "it's time to throw an immediate blanket of security around our children."

In an interview with ABC News' Diane Sawyer earlier this month, Kelly and Giffords said they hope the Sandy Hook shooting, in which 20 children and seven adults died, will spur legislative action on gun policy.

Today's hearing is the first meeting ever for Kelly and LaPierre, according to an interview Kelly gave to CNN Tuesday. Kelly, who has shot at an NRA practice range with his wife, noted that he is a gun enthusiast but is not a member of the NRA.

"You would think with my background I would be a member of the NRA. I own a gun. I recently bought a hunting rifle a few months ago. I went through a background check. It took I think about 20 minutes. It's a small price to pay to make us safer. We're not going to stop every one of these mass shootings. We're not going to stop every murder with a handgun in our cities, but I think we'd go a long way to reducing the violence and preventing some," Kelly told CNN.

Read More..

Drug reduces enlarged prostate with few side effects

Relief from the constant call of nature is the aim of a new drug, tested in rats, which can shrink an enlarged prostate and is likely to have few side effects.

By the age of 60 an estimated 70 per cent of men have prostate enlargement. Treatment involves surgery or drugs that block testosterone, a hormone that drives unwanted growth. Side effects can include loss of libido and erectile dysfunction.

The new drug, RC-3940-II, developed by Andrew Schally of the Miami Veterans Affairs Medical Center in Florida and colleagues works by blocking gastrin-releasing peptide – another potent growth factor.

In rats, a six-week treatment shrank prostates by 18 per cent. It also shrank human prostate cells by 21 per cent. Importantly, fewer side effects are likely as testosterone pathways are avoided.

Journal reference: PNAS, DOI: 10.1073/pnas.1222355110

If you would like to reuse any content from New Scientist, either in print or online, please contact the syndication department first for permission. New Scientist does not own rights to photos, but there are a variety of licensing options available for use of articles and graphics we own the copyright to.

All comments should respect the New Scientist House Rules. If you think a particular comment breaks these rules then please use the "Report" link in that comment to report it to us.

If you are having a technical problem posting a comment, please contact technical support.

Read More..

US Senate committee approves Kerry nomination

 

WASHINGTON: Senator John Kerry easily cleared the first hurdle of his confirmation as the next secretary of state Tuesday with a unanimous vote of approval by the Senate Foreign Relations Committee.

Kerry, President Barack Obama's pick to replace Hillary Clinton as the nation's top diplomat, must still be confirmed by a vote of the full Senate later in the day, but that was expected to be a shoo in.

His colleagues on the Senate Foreign Relations Committee, which Kerry chairs, gave him a unanimous vote of approval, with Republicans joining Democrats.

Kerry, who did not vote, said he was "humbled" and gratified.

"They've been wonderful, they've been really superb," he said of his colleagues on the committee, adding, "I'm very wistful about it, it's not easy" leaving.

- AFP/fa

Read More..

Verizon clears Jetpack 4G mobile hotspot for take off

Need a way to surf almost anywhere without relying on sketchy public Wi-Fi? Verizon sure thinks you do and hopes to entice subscribers with a new Jetpack mobile hotspot.

Called the Jetpack 4G LTE Mobile Hotspot MiFi 510L and made by Novatel, this gadget ships January 31 for $19.99 and continues the carrier's line of portable 4G sharing products. The hockey puck shaped 510L can spread its 4G LTE data connection to up to 10 mobile devices such as smartphone,
tablets, and laptops via wireless Wi-Fi connection.

With the largest LTE data network roll out in the U.S., the chance to link to Verizon's 4G infrastructure while on the go is a tempting prospect. Of course you will have to beef up your monthly data plan to include multiple devices which will add up quickly, as high as $180 per month. I suggest you choose your plan wisely.

Read More..

Space Pictures This Week: Martian Gas, Cloud Trails

Image courtesy SDO/NASA

The sun is more than meets the eye, and researchers should know. They've equipped telescopes on Earth and in space with instruments that view the sun in at least ten different wavelengths of light, some of which are represented in this collage compiled by NASA and released January 22. (See more pictures of the sun.)

By viewing the different wavelengths of light given off by the sun, researchers can monitor its surface and atmosphere, picking up on activity that can create space weather.

If directed towards Earth, that weather can disrupt satellite communications and electronics—and result in spectacular auroras. (Read an article on solar storms in National Geographic magazine.)

The surface of the sun contains material at about 10,000°F (5,700°C), which gives off yellow-green light. Atoms at 11 million°F (6.3 million°C) gives off ultraviolet light, which scientists use to observe solar flares in the sun's corona. There are even instruments that image wavelengths of light highlighting the sun's magnetic field lines.

—Jane J. Lee

Published January 28, 2013

Read More..

Obama's Immigration Plan to Have More Direct Path

President Barack Obama is expected to lay out his principles for immigration reform in a speech in Las Vegas today that will include a potentially quicker path to citizenship than the bipartisan plan a group of senators unveiled earlier this week.

The president will offer some new details about the White House's immigration reform plan, which expands on a blueprint it released in 2011, a senior administration official told ABC News. But for now Obama will stop short of offering his own piece of legislation because of the progress made by the Senate "Gang of Eight."

See Also: Senate Wants Immigration Bill Passed in Months

The White House has sounded positive notes about the Senate group's plan thus far, but the specifics that Obama announces are expected to have some key differences that might cause concern for some Republican senators who have signed onto the senate deal.

Like the senators' plan, Obama's proposal calls for a pathway to citizenship for many of the 11 million undocumented immigrants living in the U.S. The senators' plan would grant "probationary legal status" immediately to eligible undocumented immigrants, but would not allow them to apply for permanent legal status, or a green card, until the border is deemed to be secure. Think of that as a trigger system.

On the other hand, Obama's framework would not contain a border security measure. Administration officials told media outlets that they believe a path to citizenship needs to be straightforward. They also believe a trigger system, like the one in the senate plan, could lead to a state of legal limbo for the undocumented immigrants who receive legal status, The Washington Post reported.

The border-security-first plan, however, is essential to Republican senators who signed onto the Senate "Gang of Eight" deal.

"I will not be supporting any law that does not ensure that the enforcement things happen," Sen. Marco Rubio (R-Fla.), a member of the group, told conservative blogger Ed Morrissey on his web radio show.

See Also: 3 Flashpoints in the Senate Immigration Blueprint

Obama's plan is likely to include language that would allow same-sex bi-national couples to have the same rights as heterosexual couples, BuzzFeed and The Washington Post reported. Under current law, gays and lesbians who are married to U.S. citizens under state laws cannot obtain a green card. Obama's plan would allow them a path to citizenship, but the issue is not mentioned in the Senate "Gang of Eight" proposal.

As noted by the Post, that language may anger Christian groups who have signaled they would support comprehensive immigration reform.

But the White House remains optimistic about the progress that has been made so far. An official described the senators' announcement as a "breakthrough" to ABC News because it wasn't clear whether Republicans would sign on to any path to citizenship.

Some observers couched the Senate group's decision to come out with his plan a day before Obama as an attempt to outfox the White House politically. But administration officials told media outlets they remain generally pleased with the plan and believe that the president's speech could build momentum for a final bill.

ABC's Reena Ninan contributed reporting.

Read More..

First video reveals working tractor beam in action

Sandrine Ceurstemont, editor, New Scientist TV

A working tractor beam has now been caught on video, showing how light can pull objects - on a microscopic scale.

While it's well known that light can push objects as they follow the flow of photons, attracting them isn't as simple. By shining a laser through a lens and mirror set-up, Tomas Cizmar from the University of St Andrews in the UK and colleagues were able to reverse the effect, thanks to the interference pattern of reflected beams. Their technique works both in liquids and in a vacuum.

In this video, the first clip shows how the system can be used to separate objects of different sizes. When a tractor beam in the centre of a mixture of particles is turned on, large spheres move left towards the light, while smaller ones are pushed to the right. 

A second clip shows how the beam can pull a collection of particles. "When the right configuration of particles occurs the tractor beam makes it stable and the whole structure moves against the tractor beam," says Cizmar.

The technique has medical applications: by targeting and attracting certain types of cells, it could, for example, help sort components of blood samples. Another recent tractor beam system attracted NASA's attention as a way of collecting dust or atmosphere samples on space missions.

If you enjoyed this post, watch how light can create instant origami or see how to play a tiny game of Tetris with a laser.

Journal reference: Nature Photonics, DOI: 10.1038/nphoton.2012.332

Read More..

Iran sends monkey into space

TEHRAN: Iran on Monday successfully sent a monkey into orbit, paving the way for a manned space flight, Defence Minister Ahmad Vahidi told state television.

Arabic-language channel Al-Alam and other Iranian news agencies said the monkey returned alive after travelling in a capsule to an altitude of 120 kilometres (75 miles) for a sub-orbital flight.

"This success is the first step towards man conquering the space and it paves the way for other moves," General Vahidi said, but added that the process of putting a human into space would be a lengthy one.

"Today's successful launch follows previous successes we had in launching (space) probes with other living creatures (on board)," he added.

"The monkey which was sent in this launch landed safely and alive and this is a big step for our experts and scientists."

Iranian state television showed still pictures of the capsule and of a monkey being fitted with a vest and then placed in a device similar to a child's car-seat.

A previous attempt in 2011 by the Islamic republic to put a monkey into space failed. No official explanation was ever given.

A defence ministry statement quoted by Iranian media said earlier Iran had "successfully launched a capsule, codenamed Pishgam (Pioneer), containing a monkey and recovered the shipment on the ground intact".

Iran announced in mid-January its intention to launch a monkey into orbit as part of "preparations for sending a man into space," which is scheduled for 2020.

Iran's space programme deeply unsettles Western nations, which fear it could be used to develop ballistic missiles capable of carrying nuclear warheads they suspect are being developed in secret.

The same technology used in space launch rockets can also be used in ballistic missiles.

The Security Council has imposed on Iran an almost total embargo on nuclear and space technologies since 2007.

Tehran has repeatedly denied that its nuclear and scientific programmes mask military ambitions.

Iran's previous satellite launches were met by condemnation from the West who accused Tehran of "provocation."

The Islamic republic has previously sent a rat, turtles and worms into space. It has also successfully launched three satellites -- Omid in February 2009, Rassad in June 2011 and Navid in February 2012.

In mid-May last year, Tehran announced plans to launch an experimental observation satellite Fajr (Dawn) within a week but it did not happen and Iran gave no explanation for the delay.

The Fajr satellite was presented by Iranian officials as "an observation and measurement" satellite weighing 50 kilos (110 pounds), built by Sa-Iran, a company affiliated to the defence ministry.

- AFP/ir

Read More..