Musharraf party 'lagging in poll'

Supporters of opposition parties including Nawaz Sharif's PML-N and the PPP of the late Benazir Bhutto have been celebrating in the streets.Opposition parties in Pakistan have strong leads in elections, a spokesman for a party close to President Pervez Musharraf has conceded.He is not standing in the parliamentary election himself, but a clear defeat of his supporters could herald struggles over his presidency, analysts suggest."If the results are confirmed we will play the part of the opposition as effectively as we can," he said."The result will be the voice of the nation and whosoever wins we should accept it - that includes myself," said Mr Musharraf.

Machines 'to match man by 2029'

Humanity is on the brink of advances that will see tiny robots implanted in people's brains to make them more intelligent.The engineer believes machines and humans will eventually merge through devices implanted in the body to boost intelligence and health."But that's not going to be an alien invasion of intelligent machines to displace us." Machines were already doing hundreds of things humans used to do, at human levels of intelligence or better, in many different areas, he said.
Man versus machine
"I've made the case that we will have both the hardware and the software to achieve human level artificial intelligence with the broad suppleness of human intelligence including our emotional intelligence by 2029," he said."We're already a human machine civilisation; we use our technology to expand our physical and mental horizons and this will be a further extension of that."Humans and machines would eventually merge, by means of devices embedded in people's bodies to keep them healthy and improve their intelligence."We'll have intelligent nanobots go into our brains through the capillaries and interact directly with our biological neurons." The nanobots, he said, would "make us smarter, remember things better and automatically go into full emergent virtual reality environments through the nervous system".

Yahoo Board Divided Amid Talks with News Corp.

Despite its bold rejection of Microsoft $44.6 billion buyout offer, there is not peace around the Yahoo board table.The Bostock group is concerned that Yang's strong emotional resistance to the Microsoft deal is trumping his fiduciary duty to look out for shareholders' interests. All corporate directors face personal liability for actions that violate the "duty of care" and the "duty of loyalty" to shareholders."The emotional part of Yang would rather do anything but sell to Microsoft, but he doesn't have the cards to come up with a value-creating, competitive alternative for shareholders," an unidentified source told the newspaper. Aligned with Yang are Eric Hippeau of Softbank and Robert Kotick, CEO of Activision, said the Post's source, who appears to be closely aligned with the Bostock faction. "They're just as emotional as Jerry and as biased against selling to Microsoft as he is."

AOL 'contemplates Yahoo approach'

Microsoft has offered to buy Yahoo for more than $40bn (£20.5bn).But AOL is thought to be keen on being the firm that helps Yahoo avoid falling into Microsoft's clutches.Yahoo has dismissed Microsoft's $31-a-share offer as undervaluing its brand, audience, investments in advertising platforms and future growth prospects, free cash flow and earnings potential.An influential Microsoft investor has called on the software giant to walk away from the Yahoo offer.He, like many other investors, believes that buying Yahoo would prove a distraction to Microsoft.Microsoft shares have fallen by about 10% since it made the Yahoo offer - wiping almost $35bn from its share value.Microsoft wants to merge with Yahoo to increase its online presence and enable it to better compete with industry leader Google.

China suffers first defeat at WTO

Upholding a complaint from the European Union, Canada and US, the preliminary WTO finding agrees that current Chinese practice is protectionist.China has had its first defeat at the World Trade Organization (WTO), in a case centred on restrictions on the importation of foreign-made car parts."We can confirm that, in all major respects, the panel has agreed with the United States that China has acted inconsistently with its WTO commitments." China first joined the organisation in 2001, pledging to open up its domestic market to overseas firms and abide by WTO rules for international trade.The US announced last year that it was seeking a WTO inquiry over whether Chinese limits on imports of copyrighted US goods broke trade rules.Separately, the EU said earlier this month that it was considering launching WTO action against Chinese restrictions on foreign financial news groups.

Yahoo 'to reject Microsoft offer'

Microsoft's $31 a share offer was 62% above the level at which Yahoo's shares were trading.Yahoo's shares closed at $29.20, suggesting doubt among traders that the offer would be successful or that a higher price would be offered.A source quoted by the Wall Street Journal said that Yahoo's board would be unlikely to consider anything below $40 per share.A $40 a share offer would be a 109% premium to the $19.18 closing price of Yahoo's shares the day before the original offer was announced.Yahoo's shares have not traded above $40 for two years.Yahoo's share price falls have come as it has struggled to compete with Google, which has also been a big competitor for Microsoft.Microsoft's shares have fallen 12% since it made its offer, which may reflect concerns that it has already offered too much or that such a large deal would distract its management away from its core software business.Yahoo has reportedly decided to reject Microsoft's unsolicited takeover offer.

Apple Cuts iPhone, iPod Touch Production

Meanwhile, Net Applications released new numbers on its operating-system statistics, which revealed that Macs accounted for the largest percentage of Internet traffic ever -- 7.57 percent. iPhone-based traffic nudged up from 0.12 percent in December to 0.13 percent in January. More importantly, Net Applications' numbers show that iPhone traffic is coming from many more countries than have official wireless carriers for the phones, indicating substantial gray-market sales."We've heard the rumours that many iPhones are being used outside the officially sanctioned countries. So he has decided to check it out and surprise, surprise, it's true. The iPhone has a presence in almost every country on Earth," Net Applications wrote in its report.Mac sales appear to be rising, but Craig Berger of FBR Research says Apple, Inc. has reduced orders for iPhones and iPods for the second time in two months. Apple's iPod Touch may have the weakest sales since it is less than an Apple iPhone. Another report finds that Apple iPhone calls are coming from countries without Apple contracts.

UK police say blast killed Bhutto

Detectives from Scotland Yard were asked by Pakistani President Pervez Musharraf to examine the circumstances surrounding Bhutto's death in December.British detectives investigating the death of ex-Pakistani Prime Minister Benazir Bhutto say she died from the effect of a bomb blast, not gunfire.But Bhutto's party has insisted she was shot by an assassin, and has accused the government of a cover-up.Ms Bhutto's Pakistan People's Party (PPP) has suggested that if sophisticated weaponry were used it could indicate the involvement of elements of the security establishment.TV pictures that emerged after Bhutto's death on 27 December appeared to show a gunman aiming a weapon at the Pakistani opposition leader as she stood through the escape hatch of a vehicle during a rally in Rawalpindi.The UK police reportconfirmed that shots were fired - but said they were not the cause of death.

It said after discharging his firearm the attacker had detonated explosives, blowing himself up.The report said the evidence suggested there was only one attacker, not two, as had been speculated.

Microsoft tinkering with scary-smart ad spots

Microsoft showed off a handful of early-stage advertising projects at its headquarters that may or may not turn up as part of Microsoft's Web advertising platform.The demonstrations come just days after Microsoft's $44.6 billion bid for Yahoo Inc., which, if successful, will boost the software maker's Web traffic and online ad revenue.With its 2006 acquisition of aQuantive, the software maker gained a broader network of Web sites on which to sell ads, and tools to help marketers buy them.A few of Microsoft's projects were aimed at helping advertisers get better at reaching their ideal customers online, particularly using search keywords.The company showed a dashboard advertisers could use to forecast the success of certain keyword advertising campaigns and a system it says will make it easier for advertisers think about key ideas, rather than hundreds of individual keywords.
But most of the adCenter Labs prototypes had little to do with search

Oil prices fall further in Asian trade

World oil prices fell further in Asian trade after the US government reported another rise in crude oil inventories against the backdrop of a possible US recession.New York's main oil futures contract, light sweet crude for delivery in March, was 22 cents lower at $86.92 a barrel. The contract closed down $1.27 at $ 87.14 per barrel in the wake of the weekly US inventory report.
Brent North Sea crude for March delivery was 13 cents lower at $87.65 a barrel after settling $1.04 lower at $87.78 in London.Prices slumped after the US Department of Energy said American crude oil inventories had jumped by 7.0 million barrels in the week ending February 1, the fourth straight rise in crude stocks.The increase was much higher than analysts' consensus forecast, which had predicted a gain of 2.2 million barrels.US gasoline, or petrol, stockpiles increased by 3.6 million barrels, which also beat market expectations calling for a 1.7-million-barrel rise.
"Our belief is the US won't actually go into a recession," but the oil market thinks it will, he said, and that has put downward pressure on prices.The United States is the world's biggest oil consumer, so slowing US growth can have a knock-on effect on global crude prices.

US economy concerns knock shares

It's worst share losses in almost a year, after data showed that activity in the key US service sector unexpectedly shrunk in January.World stock markets renewed fears about the health of the US, the world's largest economy.Fears that the worst US housing slump in 25 years is crippling the wider economy sent the Dow Jones index down almost 3% and hit European shares.Economists had forecast a milder decrease to 53.0.The sell-off was broad based, hitting banking giants, technology firms and energy stocks.A reduction in their credit ranking would lead to banks, already reeling from losses centred on US mortgages taken out by individuals on low incomes or with poor credit, having to make further write-downs.

Microsoft-Yahoo Fuss May Let Google Grab Mobile Ads

Among the benefits Microsoft could get from acquiring Yahoo for $44.6 billion is a chance to compete in the emerging mobile advertising market. But while Microsoft struggles to take over Yahoo, both Microsoft and Yahoo could be distracted while Google becomes dominant in still another market. He said,"The real race today" Scoble wrote, "is for ownership of your mobile phone." He noted that six million cell-phone users are added every month in China. "So every month that Microsoft and Yahoo will be stuck in some courtroom arguing out why this is a good deal means money in the bank for Google as they close mobile-phone deal after mobile-phone deal."

House prices unchanged in January

However, the country's biggest mortgage lender said that house prices were rising at an annual rate of 4.5%.House prices were unchanged in January compared to December, according to the Halifax bank.The gain in annual house price growth pushed the value of the average UK home to £197,244 - a rise of £7,628.Problems in global financial markets, weakening consumer demand, higher interest rates and increases in petrol and food costs have all combined to rein in growth.The Financial Services Authority (FSA) also warned that a million homeowners could struggle to repay their home loans over the next 12 months.

Rupee remains stable against dollar at 39.43

The rupee remained in a tight range on lack of any major trigger and was quoted slightly better at 39.43/44 against the US dollar in late morning deals on the back of stability in equity markets.At the Interbank Foreign Exchange (forex) market, the domestic unit opened at 39.45/46 per dollar from Monday’s close of Rs 39.4450/4550 a dollar.Later, it edged up and was quoted at 39.43/44 per dollar.Dealers attributed the modest recovery in the rupee to stability in equity markets and fresh buying by Foreign Institutional Investors (FIIs), who pumped in over Rs 163.00 crore.The BSE benchmark Sensex moved up by 29 points to 18,689.41 at 10.30 am. Expectations of fresh capital inflows helped the rupee to remain steady at higher levels.Weak dollar overseas also helped the rupee, while anticipations of central bank intervention at higher levels capped the rupee's surge, they added.

Google troubled by Microsoft move

Google said the tie-up could unfairly limit the ability of consumers to freely access competitors' email and instant messaging services.It said Microsoft had previously sought "to establish proprietary monopolies".Microsoft made an unsolicited offer for Yahoo , and Yahoo has said it is considering the proposal.The two companies would create more competition."This is about more than simply a financial transaction, one company taking over another. It's about preserving the underlying principles of the internet: openness and innovation." "While the internet rewards competitive innovation, Microsoft has frequently sought to establish proprietary monopolies - and then leverage its dominance into new, adjacent markets." This is clearly Google's opening move in a complex game of chess that will encompass ordinary users, politicians, regulators and businessmen.

Ryanair warns of profits 'storm'

The warning came as the budget airline reported that net profit dropped 27% to 35m euros ($52m; £26m) during the October to December quarter.The drop was its first quarterly decline in a more than a year."The European airline sector is presently facing one of these cyclical downturns, with the possibility of a 'perfect storm' of higher oil prices, poor consumer demand, weaker sterling and higher costs.""The whole system got very frothy over the last couple of years and we can't keep bailing ourselves out with these artificial interest rate cuts," "We need to tighten the belt and focus on reducing costs."The two firms have fought to increase market share by slashing air fares, but aim to boost earnings by expanding their routes, adding planes and charging for any service above the basic cost of the flight, including baggage check-in.But he warned that if oil prices remained above $85 a barrel, and if consumer sentiment and the UK pound stayed weak, then the airline's earnings for 2008 could fall by up to 50% to 235m euros.The gloomy outlook is likely to weigh on Ryanair's share price, which has already slipped 18% this year."There is no visibility, it's just guesswork what they are doing at this stage."

SocGen controls 'failed to work'

She made the comments as she delivered a report on the bank's trading losses to the French government.The bank blames junior trader Jerome Kerviel, 31, for a 4.9bn-euro ($7bn; £3.7bn) loss, though he has reportedly said it knew the risks he was taking."Very clearly, certain mechanisms of internal controls of Societe Generale did not function, and those that functioned were not always followed by appropriate modifications.""Inspections by the banking commission carried out in 2006-7 had led to recommendations seeking to strengthen the security of operations."The report into the scandal also called for clearer divisions between the roles of government and regulators, and it recommended the banking commission be able to impose tougher penalties.t also proposed talks with major trading partners on the scandal to ensure that international standards apply.

Hyundai opens second car plant in India

Korean car maker Hyundai opened its $750 million second manufacturing plant in India that will double production capacity to 600,000 units and act as a global hub for all of the company's small cars.The new plant, which would primarily be used for producing Hyundai's 'i10', would double the capacity of cars manufactured by the company in the country to 600,000 by 2009. Hyundai new plant will be the platform for future growth. He said surely Hyundai Motor India will play its role perfectly as a global manufacturing gun for all of Hyundai's small models.Hyundai Motor India Ltd is targeting a production of 530,000 cars by the end of this year.Besides the $1 billion investment by Hyundai, its vendors would be investing $562 million.HMIL will also be separately setting up an R&D centre in Hyderabad at a cost of $40 million and the centre will focus on creating suitable designs for cars for Indian conditions.

Chad capital hit by new fighting

Fresh fighting has broken out between government and rebel forces in Chad's capital.Heavy weapons fire was heard near the palace where President Idriss Deby is said to be holding out.Rebels seized large parts of the city on Saturday, but military action subsided overnight as both sides claimed to be in control.Nearly 400 French and other foreign citizens were evacuated overnight to the Gabonese capital Libreville. The arriving evacuees appeared "harassed but happy".Several hundred others are gathered in designated areas in N'Djamena guarded by French troops.

Deadly blast hits Sri Lanka bus

At least 20 people died after an explosion hit a civilian bus in the central Sri Lankan town of Dambulla. Srilankan Police said that at least 50 people had also been injured in the blast, which occurred at a bus station.The bus had stopped on its way from the central town of Kandy to the north-central town of Anuradhapura.The attack comes amid increased security ahead of celebrations on Monday to mark the 60th anniversary of Sri Lanka's independence from Britain. The Tigers have been fighting for an independent state in the north and east of Sri Lanka since 1983.The civil war there has intensified since last month, when the government pulled out of a ceasefire with the rebels.At the weekend 18 people, many of them children, were killed in a bomb attack on a bus in the north-west of the island. The Tigers blamed the bombing on a clandestine army unit operating behind their lines, but the military denied responsibility.

Microsoft wants to purchase Yahoo

Microsoft has offered to buy the search engine company Yahoo for $44.6bn (£22.4bn) in cash and shares. Yahoo has been struggling in recent years to compete with Google, which has also been a competitor to Microsoft.In a conference call, Microsoft's Kevin Johnson said that the combination of the two companies would create an entity that could better compete with Google.Today the market [for online search and advertising] is increasingly dominated by one player," he said."It is a shotgun marriage, but the person holding the shotgun is Google".Yahoo confirmed that it has received an unsolicited offer and said that its board would evaluate the proposal, "carefully and promptly in the context of Yahoo's strategic plans and pursue the best course of action to maximize long-term value for shareholders."If Yahoo accepted the offer, competition authorities both in the US and the European Union would be likely to investigate the tie-up.Yahoo shares have fallen 46% since reaching a year-high of $34.08 in October. On Friday they closed almost 48% higher.