LG Display posts first profit in two years on phone, tablet panels

SEOUL (Reuters) - LG Display Co Ltd reported its first quarterly profit in two years on Friday as sales of its screens used in Apple Inc's iPad and iPhone offset weak demand from TV manufacturers, the South Korean panel maker's biggest revenue source.

LG Display, which vies with Samsung Electronics Co Ltd's panel unit for the top position in liquid crystal display (LCD) flat screens globally, reported 253 billion won ($230 million) in operating profit for its July-September third quarter.

That was a tad below an average forecast for a 265 billion won profit in a poll of 13 analysts by Thomson Reuters.

The profit, LG's first after seven straight quarters of losses, compared with a 492 billion won loss a year earlier and a 26 billion won loss in the preceding three months.

"We expect profitability to improve further in the fourth quarter, as a host of new mobile devices will launch and increase panel demand," the firm said in its earnings statement.

LG said it expected LCD panel prices to remain stable in the current quarter, and its flat-screen shipments to rise by a high single digit percentage quarter-on-quarter.

LG Display shares have jumped about 37 percent in the past three months, outperforming a 6 percent rise in the benchmark KOSPI index, on expectations for better fourth-quarter earnings as the company ties its fortunes more tightly to Apple.

Barclays expects LG's revenue from panel supplies to Apple and Amazon.com Inc to jump nearly 70 percent to 2.1 trillion won worth in the fourth quarter from the third quarter, due to solid demand for the iPhone 5, iPad mini and Amazon's Kindle tablet computer.

LG's new and thinner display -- its in-cell touch screen panel, which is used in the iPhone 5 -- costs 40 percent more than that of conventional smartphone panels, according to Nomura Securities. Analysts at Korea Investment & Securities expect panel sales to Apple to rise to around 27 percent of LG's total revenue in the second half of this year from 16 percent in the first half.

Shares of LG Display closed down 1.2 percent prior to the results announcement, versus a 1.7 percent fall in the broader market. ($1 = 1098.2000 Korean won)

(Reporting by Miyoung Kim; Editing by Chris Gallagher)

Source: http://news.yahoo.com/lg-display-posts-first-profit-two-years-phone-063124530--finance.html

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Argentine ship's crew arrives home from Africa

Port workers walk past the three-masted ARA Libertad, a symbol of Argentina's navy, as it lies docked at the port in Tema, outside Accra, Ghana, Tuesday, Oct. 23, 2012. Argentina has hired an Air France charter to fly nearly 300 navy cadets home from Ghana after failing to persuade the government there to reverse the seizure of its tall ship. Argentina said Monday that 281 crew members from Argentina and a half-dozen other countries will fly to Buenos Aires on Wednesday, leaving the captain with a skeleton crew to maintain the ship at port in Ghana.(AP Photo/Gabriela Barnuevo)

Port workers walk past the three-masted ARA Libertad, a symbol of Argentina's navy, as it lies docked at the port in Tema, outside Accra, Ghana, Tuesday, Oct. 23, 2012. Argentina has hired an Air France charter to fly nearly 300 navy cadets home from Ghana after failing to persuade the government there to reverse the seizure of its tall ship. Argentina said Monday that 281 crew members from Argentina and a half-dozen other countries will fly to Buenos Aires on Wednesday, leaving the captain with a skeleton crew to maintain the ship at port in Ghana.(AP Photo/Gabriela Barnuevo)

The three-masted ARA Libertad, a symbol of Argentina's navy, lies docked at the port in Tema, outside Accra, Ghana, Tuesday, Oct. 23, 2012. Argentina has hired an Air France charter to fly nearly 300 navy cadets home from Ghana after failing to persuade the government there to reverse the seizure of its tall ship. Argentina said Monday that 281 crew members from Argentina and a half-dozen other countries will fly to Buenos Aires on Wednesday, leaving the captain with a skeleton crew to maintain the ship at port in Ghana.(AP Photo/Gabriela Barnuevo)

The three-masted ARA Libertad, a symbol of Argentina's navy, sits docked at the port in Tema, outside Accra, Ghana, Saturday, Oct. 20, 2012. Argentina announced the immediate evacuation Saturday of about 300 crew members from the Libertad, a navy training ship seized in Africa nearly three weeks ago as collateral for unpaid bonds dating from the South American nation's economic crisis a decade ago.(AP Photo/Gabriela Barnuevo)

The three-masted ARA Libertad, a symbol of Argentina's navy, docked at the port in Tema, outside Accra, Ghana, Tuesday, Oct. 23, 2012. Argentina has hired an Air France charter to fly nearly 300 navy cadets home from Ghana after failing to persuade the government there to reverse the seizure of its tall ship. Argentina said Monday that 281 crew members from Argentina and a half-dozen other countries will fly to Buenos Aires on Wednesday, leaving the captain with a skeleton crew to maintain the ship at port in Ghana.(AP Photo/Gabriela Barnuevo)

Lt. Ivana Gonzalez, 23, from Argentina, stands guard in front of the three-masted ARA Libertad, a symbol of Argentina's navy, as it lays docked at the port in Tema, outside Accra, Ghana, Tuesday, Oct. 23, 2012. Argentina has hired an Air France charter to fly nearly 300 navy cadets home from Ghana after failing to persuade the government there to reverse the seizure of its tall ship. Argentina said Monday that 281 crew members from Argentina and a half-dozen other countries will fly to Buenos Aires on Wednesday, leaving the captain with a skeleton crew to maintain the ship at port in Ghana.(AP Photo/Gabriela Barnuevo)(AP Photo/Gabriela Barnuevo)

BUENOS AIRES, Argentina (AP) ? Hundreds of sailors who had to leave the Argentine navy's signature sailing ship moored in Africa, seized by a court in a debt dispute, arrived in Buenos Aires early Thursday, frustrated and disheartened.

They had hoped to sail the tall ship Libertad back across the Atlantic and arrive in Buenos Aires in full glory, but relatives waiting for them at the airport with balloons and banners said the sailors felt ashamed instead.

It appears the Libertad may be stuck indefinitely in Ghana, since President Cristina Fernandez refuses to negotiate with the investors who persuaded a judge to hold it as collateral for Argentina's unpaid debts. NML Capital Ltd. wants Argentina to forfeit a $20 million bond in order to free the ship, but Fernandez has said she won't pay them a dime.

"They had to leave it there without a ceremony, without anything. As a member of the military, that makes me a bit sad," said Paola Garcia, who was waiting for her husband, crew member Maximiliano Alegre.

Both are captains in the navy and committed to Argentina's military. He left on the Libertad's latest tour June 2, the day before the birth of their first child, Abril.

"As a mother and a wife, I'm content that they're coming home. But as part of the military, we're sad to leave the frigate with just a few crew members there. I don't know what they're going to do ? it's our only frigate and I don't know if we're going to lose it or what," Garcia said.

NML Capital told the judge in Ghana that the three-masted ship could set sail as soon as Argentina pays $20 million against more than $300 million the investment fund says Argentina owes on bonds that were defaulted on when the South American country suffered economic collapse a decade ago.

Instead, Fernandez sent her ministers to Ghana and the United Nations in failed attempts to persuade Ghana's government to overturn the judge's order.

"As long as I am president, they can keep the frigate, but no one will take the liberty, sovereignty and dignity of this country, not a vulture fund, not anyone," Fernandez declared, suggesting the ship could remain stuck in Ghana for at least three years, until her term is up.

The president's position saddened the ship's young sailors, who were hoping to sail back to South America.

Because any other Argentine government asset sent to pick up the navy cadets could be seized as well, Fernandez's government was forced to hire an Air France charter to bring back the sailors, who include citizens of a half-dozen South American nations.

NML Capital is a subsidiary of billionaire Paul Singer's Elliott Capital Management fund, which has demanded payment in full plus interest for its share of the $100 billion in bonds that Argentina defaulted on a decade ago. The vast majority of bondholders settled for 30 cents on the dollar, but Singer held out and has become Argentina's worst enemy by filing suits around the world to embargo the country's assets.

The ship's captain and a skeleton crew were left behind to maintain the Libertad at Ghana's Tema Port, where authorities complained that it has become a nuisance, costing the government thousands of dollars a day in lost fees by forcing delays in transferring cargo to other ships that are now lining up at sea.

The Argentine newspaper La Nacion reported that Ghana's Ports Authority director, Margaret Campbell, asked the judge to order the Libertad moved to a less-busy berth.

___

Associated Press writers Francis Kokutse in Accra, Ghana, and Michael Warren in Buenos Aires contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-10-25-Argentina-Seized%20Ship/id-a19f654dd9f24c25ac2e4d769864aa5c

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Library Cloud: Weekly Reader

Pearson Moves Deeper Into Online Education with $650 Million Purchase
"Pearson, a publishing and education company whose products include books, newspapers, and online services, announced a major acquisition on Tuesday that will deepen its commitment to becoming a major player in online education.
The company, which owns the Financial Times and the Penguin Group book publisher, shelled out $650-million in cash to buy EmbanetCompass, a business that provides support services to colleges and universities that are moving their programs online." -- Kathrine Mangan, The Wired Campus, 10/16/12

Managing Your Digital Footprint (Repost)
"It?s NEVER too early to start managing your digital footprint. Colleges and future employers will certainly Google your name to see what you?ve been up to. You want them to find a productive, creative online life?not the embarrassing photo from that last party you went to!" -- Jen Hurd, Bib 2.0, 10/22/12

Augmented Realities in Learning - Hype for Now?
"I don?t have enough time for thinking these days ? which is? not a very good thing.This thinking beyond ourselves is what the game of learning is all about, and how we do this is how we augment the true cognitive capacities of our minds, regardless of what technology-enhanced sphere that thinking takes us into." -- Judy O'Connell, Hey Jude, 10/23/12

Source: http://librarycloud.blogspot.com/2012/10/weekly-reader.html

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Chinas increasing military spending alarming Asian neighbors

South East Asia Post (ANI) Wednesday 24th October, 2012

China's military spending has rapidly shot up, unnerving Beijing's Asian neighbors and policy planners at the Pentagon, who are openly wary about the country's long-term intentions.

According to various international think tanks, China's military spending has risen from about 20 billion dollars in 2002 to at least 120 billion dollars last year.

The United States still spends four times as much on its military. But by some accounts, China is on course to surpass the United States in total military spending by 2035, the Washington Post reports.

According to the paper, some critics, including China's skeptical neighbors, are alarmed at the spending, which they say is being used to bolster China's more assertive stance over long-disputed, uninhabited islands in the South China and East China seas.Longer term, some predict, China's growing military might shift the balance with American-armed Taiwan, which Chinese leaders consider a renegade province to be reunited with the mainland, the paper said.

Experts say the military growth has led the Obama administration to refocus America's defense posture away from the wars in Iraq and Afghanistan and toward the Asia-Pacific region, and has also caused Japan and some Southeast Asian countries to seek reassurance from the United States that they won't be abandoned.

However, Luo Yuan of the China Military Science Society claimed that China's military spending only reflects the newly booming economy, and the country is simply playing catch up after years of neglect.

"Actually, our rapid spending increase in recent years is more like compensation for the past," he said. (ANI)

Source: http://www.southeastasiapost.com/index.php/sid/210287964/scat/303b19022816233b

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Leading LNG Players to Meet at CWC World ... - LNG World News

The spotlight continues on the LNG market, with increasing supply and demand for gas, potentially indicating that gas demand could outstrip coal by 2030, and get close to demand for oil by 2035.

However, the question still remains ? how will the LNG supply and demand balance look in the next three years, amid new supply projects coming on stream and changing energy policies in importing countries? This question and others will be analysed by LNG professionals around the globe when they meet at the Thirteenth CWC World LNG Summit and Awards Gala Dinner on 27-30 November 2012 in Barcelona.

Through a line-up of renowned international speakers, the Summit offers participants the chance to hear about the future of LNG supply and demand from companies including: Anadarko, Angola LNG, Sonatrach, Repsol, Stream, Petrobras, Shell, Mitsubishi, BG Group, GAIL, Tokyo Gas, Panama Canal Authority, Klaipedos Nafta, GasAtacama, Chevron and many more.

The Summit also offers strategic networking opportunities in an exclusive environment, with the key decision makers coming together over four days to build relationships and close their deals before the end of the year.

This year sees the 8th edition of the prestigious LNG Awards Gala Dinner hosted at the stunning Castell de Sant Marcal, where delegates will find out who has won the three highly anticipated awards: the LNG Technological Innovation Award, the LNG Executive of 2012 Award and the highly regarded CWC / WGI Annual LNG Award for Outstanding Contribution to the Industry.

Plus invaluable networking at the BG Group hosted Welcome drinks, the Repsol and STREAM hosted informal drinks party as well as various luncheons and coffee breaks sponsored by Rasgas, Angola LNG and Union Fenosa Gas.

LNG World News Staff, October 24, 2012; Image: CWC

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Source: http://www.lngworldnews.com/leading-lng-players-to-meet-at-cwc-world-lng-summit-singapore/

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Adonit Jot Touch (for iPad)

Adonit's Jot Touch is the most precise pressure-sensitive Apple iPad? stylus on the market, and its delicate precision makes it one of our Editors' Choices for pressure-sensitive iPad styli.?

Long, smooth, and elegant, the $99.99 (direct) Jot Touch is also the most expensive of the three styli we tested. At 5-5/8" long, it's a touch shorter than the Jaja, but it's also narrower and lighter. Our model came with a red metal barrel and cylindrical rubberized grip, which houses two slightly balky action buttons. The buttons are usually set to undo and redo functions, but apps can customize them. Remove the screw-off cap and you'll see a clear disc tip, which lets you make very small, precise movements on the screen.?Some people have complained the the Jot Touch's disc makes noise against the screen. I didn't find that.

Like the Pogo Connect, the Jot Touch uses Bluetooth to connect to the iPad (in this case, second and third-generation tablets.) I found that the Jot Touch sometimes didn't auto-connect to my iPad, and I had to go into the tablet's Bluetooth settings and click Connect; after that, the stylus worked fine. Unlike the Jaja and Pogo Connect, the Jot Touch has a sealed, rechargeable battery. Adonit says it runs for about 12 hours, and includes a USB battery charger that can charge off of any standard USB port. Don't lose the charger, though, as it's thoroughly proprietary.

The Jot Touch has by far the longest list of supported apps, with more than a dozen on board, although only a handful properly support the pressure sensitivity. (Always make sure your favorite app works with a stylus before buying one!) As with the other styli, I tried it in Procreate, Sketchbook Pro, and ArtStudio. This stylus had the lightest default pressure settings of the three, rewarding a delicate hand (the more leaden-armed would probably prefer the Pogo Connect.) Using the clear disc tip, I could more easily inscribe tiny details than with the Pogo Connect, and the Jot Touch didn't rattle like the Jaja did. The feel of the tip against the screen was a bit scratchier than with the Pogo Connect, though?more like a pencil than like a brush.

I should note that the Jot Touch has almost the exact same body design as Adonit's Jot Pro ($29.99), which doesn't have the Bluetooth. If all you're looking for is a very precise stylus, go for the Jot Pro instead.

The Adonit Jot Touch and Pogo Connect are both high-quality pressure-sensitive iPad styli. The Jot Touch allows more precision and works with the iPad 2. But you should choose between the two based on the feel you prefer?mechanical pencil in Adonit's case, or marker/brush in Pogo's. Both will let you create beautiful pictures, and both are worth our Editors' Choice.

Interested in less expensive, non pressure-sensitive styli? Check out our reviews of Stylin' Styli for your iPad.

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/wQs5WioL8ZQ/0,2817,2411192,00.asp

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Ford Closes Factory Causing 4,300 Job Losses

Ford has confirmed it will close its "under-utilised" factory in Genk, Belgium, resulting in 4,300 job losses, as it attempts to deal with a slump in demand across Europe.

Hundreds of employees gathered outside the gates of the plant, as the?US?car maker said it would end production in the town in 2014.

"Ford announced its plans to end production at a major production plant in Genk, Belgium, by the end of 2014," the company said in a statement, adding that the closure would entail a "reduction of approximately 4,300 positions".

Workers gather outside the Genk plant

Ford of Europe's chief executive Stephen Odell added: "The proposed restructuring of our European manufacturing operations is a fundamental part of our plan to strengthen Ford's business in Europe."

Production of the company's new Mondeo, S-Max and Galaxy models will be transferred to Valencia, Spain, in a move that could see a further 5,000 subcontractors lose their jobs.

Union representative Johan Lamers said: "This is taking us by surprise and is an extremely bitter pill."

The development comes after the French government offered Peugeot Citroen a 7bn euro (?5.6bn) lifeline following another drop in sales.

The Paris-based company?said it was also close to agreeing a 11.5bn euro (?9.3bn) refinancing deal with creditor banks, in addition to the state guarantees, for its lending arm Banque PSA Finance.

Following the announcement, Peugeot shares fell 6.5% - hitting?their lowest levels since 1986.

Car sales in Europe have slumped as consumers in the region find their?budgets hit by unemployment and government austerity.

Earlier this month, industry figures revealed that the market shrank at its fastest pace for 12 months in September.?

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Source: http://news.sky.com/story/1001953

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