Apple has had quite a bumpy car ride so far with it’s mapping product. That all ends in just a couple hours, however, because late Wednesday evening Google is planning on bringing Maps back to iOS with the release of the company’s own software. AllThingsD is reporting that Google’s app will be available for download in the App Store shortly, and we’ll provide some initial thoughts on it soon after.
UPDATE: Google Maps is now available on Apple’s App Store for the iPhone, iPad and iPod touch.
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TOKYO — Japan scrambled fighter jets on Thursday after a Chinese surveillance plane entered what Japan considers its airspace above disputed islands that have become a source of heightened tension between the Asian powers.
Though Japan routinely sends jets to head off Chinese aircraft skirting its territory, the Japanese Defense Ministry said the incident was the first known violation of Japanese airspace by a Chinese plane in more than 50 years. Tokyo lodged a formal protest with Beijing, which swiftly retorted that it was the Japanese who had encroached.
The incident threatens to escalate a maritime standoff over the uninhabited islands in the East China Sea, which Japan controls and calls the Senkakus. China calls the same islands the Diaoyus. For months, patrol ships from the two countries have sporadically faced off in waters around the islets, exchanging protests over loudspeakers and, on some occasions, sparring with water cannons.
The incident also comes just days ahead of national elections in Japan on Sunday that are expected to result in a change in government.
In an embarrassment for the current administration, Japan’s radar systems failed to detect the Chinese surveillance plane Thursday morning, and Tokyo became aware of its presence only after a Japanese Coast Guard ship spotted it near the islands. By the time fighter jets were dispatched to the area from their base in Naha, on the island of Okinawa, the Chinese plane was nowhere to be seen, a Defense Ministry official said.
With the Japanese jets yet to arrive, the Coast Guard was left on its own to confront the Chinese plane. “Do not intrude into Japanese airspace,” the crew of one of its ships radioed the plane, according to the public broadcaster NHK.
“This is Chinese airspace,” the plane’s crew radioed back, according to NHK.
In Tokyo, Chief Cabinet Secretary Osamu Fujimura called the Chinese actions “extremely regrettable” and said that Japan had lodged an official complaint with Beijing.
Gen. Shigeru Iwasaki, chief of joint staff of Japan’s Self-Defense Forces, said it was regrettable that the plane had slipped into Japanese airspace unnoticed. “We are going to make sure this does not happen again,” General Iwasaki said.
In Beijing, the Chinese Foreign Ministry spokesman Hong Lei said:“I want to stress that these activities are completely normal.”
“China requires the Japanese side stop illegal activities in the waters and airspace of the Diaoyu islands,” the spokesman said.
The Japanese Defense Ministry said it was only the third time foreign aircraft were known to have violated Japanese airspace since 1958, when Tokyo started keeping records of intrusions. A Soviet military jet entered Japanese territory in 1979 and a Taiwanese private plane in 1994, though neither incident led to confrontation.
With the Japanese elections just days away, public unease over China’s growing military shadow could provide a further boost for the opposition Liberal Democratic Party, which has promised to strengthen Japan’s military and is leading the governing Democratic Party in the polls. Public jitters here have also been enhanced by the fact that a rocket launched by North Korea on Wednesday traveled over Japanese territory.
Shinzo Abe, the Liberal Democrats’ conservative leader, supports an amendment to Japan’s pacifist Constitution that would allow it to establish a military beyond the self-defense forces that it currently maintains. Also running is a fringe party led by the nationalist politician Shintaro Ishihara, whose bid to purchase the disputed islands earlier this year triggered the current flare-up.
Hisako Ueno contributed reporting from Tokyo, and Bree Feng from Beijing.
Zac Efron was in a New York state of mind when he dined at BLT Prime recently.
The Paperboy actor and six friends enjoyed dinner together, with Efron eating a rib eye steak and drinking Johnnie Walker Blue.
Dressed casually in a black T-shirt and jeans, Efron and his friends were at the restaurant for two hours, just "catching up," an onlooker tells PEOPLE.
Efron's next film, Are We Officially Dating?, follows three New York bachelors who make a pact to have as much fun as possible.
LONDON (Reuters) - Stock futures pointed to a flat-to-lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent at 0950 GMT (4.50 a.m. ET).
Contracts on the Dow Jones and the Nasdaq 100 were flat in percentage terms.
Japan's Nikkei <.n225> average surged above 9,700 for the first time in eight months, led by exporters, as the yen fell to a multi-month low on mounting expectations of aggressive monetary easing by the Bank of Japan after a general election at the weekend.
European shares slipped on Thursday after persistent concern about U.S. austerity measures that could hit growth in the world's largest economy overshadowed fresh stimulus steps from the Federal Reserve.
Google's navigation tool has returned to the iPhone, months after Apple's home-grown mapping service flopped, prompting user complaints, the firing of an executive and a public apology from Apple's CEO. [ID:nL1E8ND0P2]
Adobe Systems , the maker of Photoshop software, reports results, expected to show earnings per share fell to $0.57 in its fourth quarter, from $0.67 one year earlier.
GrainCorp Ltd on Thursday rejected a sweetened $2.9 billion bid from Archer Daniels Midland , putting pressure on the U.S. agribusiness giant to boost its offer for Australia's last major independent grains handler.
Knight Capital Group Inc expects to make a decision on its future ownership by early next week, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The U.S. unit of Britain's BAE Systems Plc said it has won a contract valued at up to $400 million to maintain and service more than 300 U.S. Navy trainer aircraft, beating out incumbent Sikorsky Aircraft, a unit of United Technologies, and L-3 Communications.
The Pentagon will pay about 4 percent less for each new Lockheed Martin Corp F-35A fighter jet when it signs a deal worth $3.8 billion with the No. 1 U.S. defense contractor on Friday, according to sources familiar with the deal.
American Airlines creditors want a potential merger with US Airways Group Inc to be an all-stock deal rather than one that pays some claims in cash, three people familiar with the matter said, in a move that underscores confidence in a merged airline.
Solar installer SolarCity is set to begin trading on the Nasdaq after halving the value of its initial public offering. The deal has been highly anticipated in clean tech and venture capital circles as alternative energy startups have had a difficult time attracting investor interest.
The U.S. Labor Dept releases first-time claims for jobless benefits for the week ended December 8 at 1330 GMT (8.30 a.m. ET). They were expected to show 370,000 new filings, a repeat of the previous weeks figure.
The U.S. Commerce Dept's November retail sales, also due out 1330 GMT (8.30 a.m. ET), were forecast to show a 0.5 percent rise, compared with a 0.3 percent decrease in October. Excluding automobiles, sales are expected to be unchanged, a repeat of the October level.
Producer prices were forecast to show a 0.5 percent decrease compared with a 0.2 percent drop in October. Excluding volatile food and energy items, PPI is expected to rise 0.2 percent versus with a 0.2 percent decrease in October.
The Dow Jones industrial average <.dji> slipped 2.99 points, or 0.02 percent, to 13,245.45 on Wednesday. The Standard & Poor's 500 Index <.spx> inched up just 0.64 of a point, or 0.04 percent, to 1,428.48. But the Nasdaq Composite Index <.ixic> shed 8.49 points, or 0.28 percent, to end at 3,013.81.
(Reporting By Francesco Canepa. Editing by Jeremy Gaunt.)
VATICAN CITY (Reuters) – After weeks of anticipation, Pope Benedict sent his first tweet on Wednesday.
“Dear friends, I am pleased to get in touch with you through Twitter. Thank you for your generous response. I bless all of you from my heart.”
The tweet was sent when the 85-year-old pope tapped on a touch screen at the end of his weekly general audience in the Vatican before thousands of people.
(Reporting By Philip Pullella, editing by Paul Casciato)
The wedding's back on – though it may be a good idea to save that gift receipt.
Hugh Hefner, 86, officially confirms that he is once again engaged to Crystal Harris, 26, telling his Twitter followers, "I've given Crystal Harris a ring. I love the girl."
And to prove it, Harris posted photos of the big diamond sparkler, calling it "my beautiful ring."
Neither announced a wedding date, though sources tell PEOPLE they're planning to tie the knot at the Playboy Mansion in Los Angeles on New Year's Eve.
Whether that still happens remains to be seen.
This is the plan they had in 2011 – a wedding at the mansion – except that Harris called it off just days before the nuptials were scheduled to happen in front of 300 invited guests.
Hugh Hefner and Crystal Harris
David Livingston / Getty
The onetime Playmate of the Month then ripped Hef's bedroom skills, calling him a two-second man, to which Hefner replied, "I missed a bullet" by not marrying her.
A year later, Hefner's "runaway bunny" bounded back to him.
LONDON (Reuters) - Stock futures pointed to a fractionally higher open on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising by 0.1 to 0.2 percent.
* The U.S. Federal Reserve is expected to announce a fresh round of bond buying on Wednesday as part of its efforts to support a fragile economic recovery threatened by political wrangling over the government's budget.
* Negotiations to avert the "fiscal cliff" ahead of a year-end deadline intensified as President Barack Obama and U.S. House of Representatives Speaker John Boehner spoke by phone on Tuesday after exchanging new proposals.
* India's government announced an inquiry into lobbying practices by Wal-Mart Stores Inc. on Wednesday after a report that the giant retailer had pressed U.S. lawmakers to help gain access to foreign markets.
* Costco Wholesale Corp posted a 30 percent rise in quarterly profit, beating expectations, as the largest U.S. warehouse club chain saw sales rise and got a lift from higher membership fees.
* Chesapeake Energy Corp on Tuesday agreed to sell most of its remaining natural gas processing and gathering assets for $2.16 billion as it continues to sell assets to pay down its heavy debt load.
* Sprint Nextel Corp is in talks with Intel Corp and Comcast Corp to buy out their stakes in the U.S. wireless provider Clearwire Corp, two people familiar with the matter said on Tuesday.
* European shares steadied in early trade on Wednesday, keeping alive their sharp three-week rally as investors bet the Fed would deliver on stimulus.
* The Dow Jones industrial average <.dji> closed up 78.56 points, or 0.60 percent, at 13,248.44 on Tuesday. The Standard & Poor's 500 Index <.spx> was up 9.29 points, or 0.65 percent, at 1,427.84 - its highest since November elections. The Nasdaq Composite Index <.ixic> was up 35.34 points, or 1.18 percent, at 3,022.30.
(Reporting by Atul Prakash; editing by Patrick Graham)
WASHINGTON (Reuters) – A recently announced hacking of the U.N. nuclear agency’s computer servers was not the first time an attempt had been made to break into the organization’s computer system, the head of the agency said on Thursday.
Yukiya Amano, director general of the International Atomic Energy Agency, said that a few months ago a group broke into the agency’s computer system and stole personal information of scientists working on peaceful uses of nuclear energy.
In response to questions at a Council on Foreign Relations event in Washington, Amano repeated what he said last week after the hacking was revealed: no sensitive information about the IAEA‘s nuclear inspections had been stolen.
The IAEA has shut down the server that had been hacked and is continuing an investigation, Amano said. But he also said it wasn’t the first attempt to break into the system.
“If you ask if this is the only case? I would say there have been some other tries but we are doing our best to protect our system,” Amano said.
The hackers – a group using an Iranian-sounding name – have posted scores of email addresses of experts who have been working with the U.N. agency on a website, and have urged the IAEA to investigate Israel’s nuclear activity.
Israel, which has an undeclared nuclear arsenal, and the United States accuse Iran of seeking to develop a nuclear weapons capability. Tehran denies such ambitions.
Amano would not say if he believed Iran was behind the attacks on the IAEA, whose missions include preventing the spread of nuclear weapons and which is investigating Iran’s disputed nuclear activities.
“The group … they have what looks like an Iranian name. But that does not mean that the origin is Iran,” he said.
There has been an increase in suspected Iranian cyber attacks this year, coinciding with a deepening standoff with the West over Tehran’s nuclear program.
(Reporting by Deborah Charles. Editing by Warren Strobel and Doina Chiacu)
ULAN BATOR, Mongolia — The concept of a “blue sky country” has become almost a cliché in presentations about Mongolia, the world’s fastest-growing economy last year. The phrase, which evokes the Montana-like landscape of the steppe, paints a picture of sunny investment horizons in this frontier democracy rich in coal, copper and gold.
But visitors to this city, the capital of Mongolia, seldom find a blue sky today. It is smoggy, and soot rains down from the hills, as the poorest residents burn cheap brown coal to stay alive through the winter.
The investment prospects of Mongolia, a darling of the emerging markets, are similarly shifting.
In May, the Parliament passed a law that restricted foreign investment in the country’s most attractive asset, its mineral deposits. The government is also taking aim at a crucial deal with the multinational mining giant Rio Tinto, a pact that many see as the foundation of the country’s recent economic growth.
Now, the underlying fundamentals of the country look increasingly shaky. Mongolia faces a financing crunch, as investment dollars flowing from abroad have fallen. And revenue from coal, the country’s main export, has dropped along with Chinese demand.
“There are a series of elements that have built up less-than-welcoming attitudes to Mongolia at a time when the macroeconomic situation is deteriorating,” said John P. Finigan, the chief executive of Golomt Bank, the country’s second-biggest bank.
Mongolia’s star rose — and is now falling — with the fortunes of one company: Rio Tinto, the country’s largest investor.
In October 2009, Rio Tinto and Ivanhoe Mines, a Canadian exploration company, negotiated a deal with the Mongolian government about developing Oyu Tolgoi, the crown jewel of the country’s mining sector and the world’s biggest new source of copper. The copper and gold mine would cost more than $10 billion to build, and the potential investors wanted assurances. Under the so-called Oyu Tolgoi Investment Agreement, taxes and royalty payments to the government would be fixed for 30 years. At the time, it was considered “the initiation of a new stage in Mongolia’s history,” said Oliver Belfitt-Nash, an analyst at Monet Capital, a Mongolian investment bank.
The agreement set off a boom.
Rio Tinto spent billions of dollars to buy out Ivanhoe’s stake in the project and build the Oyu Tolgoi mine. Investors followed, encouraged by the cooperation between a multinational corporation and a coalition government. Some investors financed smaller mines. Others imported mining equipment or Hummers to sell to newly minted millionaires. Skyscrapers rose in central Ulan Bator.
The impact of this spending was significant in this country of only three million people. Last year — when capital expenditures on the Oyu Tolgoi mine peaked — Mongolia’s gross domestic product increased by 17.5 percent, according to the International Monetary Fund. It was the fastest-growing economy in the world.
But optimism has fizzled since May. That month, Mongolia passed the Strategic Foreign Investment Law, which states that Parliament must approve foreign takeovers of assets in strategic sectors like mining and banking.
In Ulan Bator, the law was widely seen as a torpedo aimed at one deal, Chalco’s takeover of SouthGobi Resources, a coal mining company. Chalco, China’s largest state-owned mining company, agreed in April to buy a controlling stake in SouthGobi Resources, a Rio Tinto subsidiary, for $926 million. In September, Chalco walked away, citing regulatory uncertainty.
Both foreign investors and local businessmen have complained about the law’s lack of clarity. The rules set up the potential for severe regulatory delays, as politicians from all parties intervene in the deal-making. The government has not yet specified how the law would work in practice, but it has already affected transactions beyond the SouthGobi acquisition.
“We haven’t made any new investments,” said an executive at an financial company with extensive holdings in Mongolia, who spoke on the condition of anonymity. It “is a horrible law. It is very menacing and unclear. At a time when investors are scared of allocating capital anyway, it’s definitely had a negative impact.”
In the months after the law’s passage, foreign direct investment plunged. In September, investment flows from abroad dropped 44 percent compared with the same month in 2011, according to data from the central bank.
The commodity markets are partly to blame for the financing crunch. Prices for coal and copper, the country’s main exports, are lower this year.
But government policies have only worsened the problem. Ovoot Tolgoi, a large coal mine owned by SouthGobi Resources, has suspended its operations for the last six months after the failed deal with Chalco.
Tavan Tolgoi, the state-owned coal mining company, did not export coal for three months this summer. In the run-up to elections in June, the government raided the company’s treasury to pay for cash handouts to the populace.
The ruling party eventually lost the elections. And the policy left Tavan Tolgoi so starved for money that it could not afford to transport its coal to Chinese markets, according to a company official who spoke on the condition of anonymity because of the political nature of the matter.
The combination — the weakness in the mining industry coupled with the government actions — has hurt the country’s finances. The International Monetary Fund expects that Mongolia will face a fiscal deficit of 900 billion tugrik, or $643 million, in 2012, and several policy makers in Ulan Bator expect it to widen next year.
The situation has left the government scrambling to make up the gap, putting the Rio Tinto deal directly in the cross hairs.
Last month, the Parliament approved a budget for 2013 that tries to renegotiate the Oyu Tolgoi Investment Agreement with Rio Tinto. The budget calls for 446 billion tugrik, or $319 million, of extra income from the Oyu Tolgoi mining project next year. This revenue would come from new royalty payments that are up to four times as high as in the original deal. The budget legislation refers to “when the amendment is made,” as if it were already a done deal.
“We believe the recent surge in government support to renegotiate” the deal with Rio Tinto “is to meet the proposed budget deficit,” Dale Choi, an analyst at Origo Partners, a private equity investor in Mongolia, said in a note last month. But revising the deal “would undoubtedly adversely impact both near- and longer-term economic growth and Mongolia’s sovereign risk profile in the global financial markets.”
The changes in the budget could threaten Rio Tinto’s returns. Significantly higher payments to the government could make the project uneconomical, prompting the company to freeze new investment and start international arbitration.
So far, Rio Tinto and its partners have spent more than $6 billion building Oyu Tolgoi, a vast complex that gleams with state-of-the-art equipment in the Gobi Desert. But the investors have not seen a dollar in profit because the mine will not start producing copper until next year. A spokesman for Rio Tinto declined to comment.
The two sides are in a standoff. The mining minister said at a news conference in October, “We have a strong need to renegotiate the investment agreement. If Oyu Tolgoi keep refusing, we will work until they understand and accept the changes.” But the company is unwilling to accept the tax and royalty amendments proposed in the budget, said a person with knowledge of the situation. Low-level discussions between the company and the government are under way, according to people on both sides, who declined to be identified.
Now, Mongolia faces a tough choice.
The country needs the money to plug the hole in the budget. The Rio Tinto deal has also become politically toxic, and the government needs to please many members of its coalition who campaigned and won seats by opposing the agreement.
But foreign investment — the lifeblood of the economy — could dry up if Rio Tinto pulls back.
Even as pessimism about the economy and investment policy deepens in Mongolia, outside investors continue to buy into the country’s “blue sky” future. Last week, Mongolia sold $1.5 billion of sovereign bonds amid strong demand.
In New York, Singapore and Hong Kong, a Mongolia delegation showed a PowerPoint presentation that featured photographs of the wide-open steppe. The first slide reads: “Mongolia: The Country with Unmatched Growth Potential.”
But within Mongolia, some are wondering whether such claims match the reality.
This post has been revised to reflect the following correction:
Correction: December 11, 2012
A previous version of the article said that Chalco walked away from buying a controlling stake in SouthGobi Resources in May. The company walked away in September.
Nashville star Hayden Panettiere has broken up with her boyfriend of more than a year, New York Jets wide receiver Scotty McKnight, a source confirms to PEOPLE.
But the split doesn't appear to be the stuff of a sad country song. The actress, 23, is still friends with McKnight, 24, and one source tells TMZ that their pals wouldn't be surprised if they got back together.
This is Panettiere's second go at a relationship with an athlete. Before dating McKnight she was with Ukrainian boxer Wladimir Klitschko for about two years. – Julie Jordan
