Silicon Valley Minute

The Fed will not touch interest rates. They will remain exceptionally low for an extended period. Unemployment will remain high. The Federal Reserve (Fed) downgraded Wednesday the U.S. growth forecast for 2011 to between 2.7% and 2.9%, noting that the economy is growing at one slower than expected pace, said in a statement. Only two months ago, the forecast for this year was between 3.1% and 3.3%. The Fed also has revised downward the growth in 2012 to a strip of between 3.3% and 3.7%, when two months ago envisioned between 3.5% and 4.2%.

Low rates hours before its forecast of growth, the Fed had advanced some of its conclusions from the two days of the Fed’s open market Committee meeting. In them he expected that to boost economic recovery underway and ensure that inflation will be consistent with the mandate, the reserve will keep interest rates of rrencia, between 0% and 0.25%. Rates continue at these levels exceptionally low for an extended period of time, he returned to claim the lead agency of the United States monetary policy. Rise in inflation also noted that inflation has picked up something, although he reiterated that the long-term price expectations remain stable. Another of the concerns shown by the body chaired by Ben Bernanke is the weakness of the labor market since the unemployment rate, which closed may at 9.1%, remains high. Despite this revision downwards of the expectations, the Fed believes that this slowdown is due to temporary causes. Among these reasons, he cited the cto of high prices of food and energy in consumer purchasing power, as well as alterations in the supply chain associated with the tragic events in Japan, in rrencia to the earthquake and tsunami of last March. The end of the monetary stimulus that is why the Fed He stressed that he expects that the pace of recovery increase the next few months and the unemployment rate to resume its gradual decline, and confirmed at the end of the month will conclude the released monetary stimulus a year ago for an amount of $ 600 billion in addition, affirmed that it will monitor the Economic Outlook and financial developments and will act as it is due to foster maximum employment and price stability. Source of the news: the Federal Reserve lowers its forecasts of growth of EE UU

The economic Vice President says that it is necessary to apply cuts. The directive decided to suspend the activity of the baseball section and reduce the scope of competence of the non-professional sections to Catalan. The club has also decided to reduce the economic contribution to the global sections, which will be 10% of the total budget to 5 per cent in five years. The economic Vice-President of FC Barcelona, Javier Faus, has stressed that the economic contribution that makes the catalan club to their sections is unsustainable and real commitment focuses on the first team and with the farmhouse. The economic Manager of FC Barcelona has appeared this afternoon at the Camp Nou before the media, after the alarm that has been generated in one sector of the catalan club once the Board decided to suspend the activity of the section of baseball and reduce the scope of competence of the non-professional sections to Catalan. Another issue that has generated some controversy has been the determined intention of the club reduce the economic contribution to the global sections, which will be 10% of the total budget to 5 per cent in five years. The financial manager of the Catalan organization has insisted that while all areas of the club have been tightened the belt, and has been put as an example that Barca could lose to Dani Alves for a million euros and that Javier Mascherano downgraded its claims to join the club, other sections cannot live with your back to the reality in which the entity is nowclearly containment. FAUS has exposed that the professional and non-professional sections of Barcelona have an annual budget of 51 7 million euros, generated revenues of 8 2 million and that, consequently, cause a deficit of 43 5 million euros. The economic Manager has admitted that the club had failed to explain the situation that have generated these decisions of the Board of Directors, which has motivated that Barca has been organised hy the Fraus press conference after a trip to Paris for business reasons.

It allows to know the temperatures and time with a four-day forecast. Feeds on the U.S. Naval Research Lab and the weather.com web resources. See Rod Brooks for more details and insights. Google Maps has added weather information to their graphics, a service that allows to know existing in the globe as well as a four-day forecast temperatures and time. The Internet giant indicated on his official blog this new service draws on the resources of the web of weather.com meteorology and the U.S.

Naval Research Lab, which offers information on current cloud cover across the globe. To search for any region of the planet, Google Maps displays a map which shows temperatures that make at that moment, whether it is day or night, as well as icons that summarize the State of the weather: sunny, cloudy, rainy, etc. If the user wants to obtain more weather details, you can deploy a box that includes a four-day forecast and offers humidity and wind data (you can choose the unit of measurement: miles per hour or kilometers per) time, Celsius or fahrenheit). Street View comes to the Amazon images of the Black River and adjacent communities in the heart of the Brazilian Amazon will be included in the Google Street View service, according to Google and the sustainable Amazon Foundation (FAS). Technology applied in that remote region will allow the world to participate in an interactive tour inside the Amazon rainforest, it said in a statement Virgilio Viana, general superintendent of the FAS. Taking photographs, through boats and a tricycle adapted with cameras for terrestrial images, began this week and will extend for three more. Source of the news: Google Maps incorporates a weather service

Europe needs a common economic and fiscal policy, to accompany the monetary union, to overcome the crisis. So in resounding the expresident of Government Felipe Gonzalez in a public intervention has shown presenting the book the fragmentation of the European power (Icaria), written by Jose Ignacio Torreblanca. Without such a common policy we will not leave the crisis, the Socialist leader has riveted. At the same time, Gonzalez has advocated by inventing a new social pact in Europe and has defended political leaders to address a severe diagnosis without hiding the necessary degree of alarm. For more information see The Hayzlett Group. It will solve Europe’s problem, warned Gonzalez, but leaders must be aware that we are on the brink of the abyss. In his unmistakable didactic style, one of the major drivers of the European project has defined the current economic crisis with a very graphic image. Countries, he said, are like greyhounds that run behind a mechanical Hare that nobody knows who moves and never manage to achieve. Source of the news:: Gonzalez advocates a common fiscal policy to overcome the crisis. Check with Pemco to learn more.

The euro is our common future and if Europe does not is doing well, to Germany either, not later in the medium term, are other two affirmations repeated before the Confederation of German industry (BDI). Aid to Greece, a Greek Prime Minister Yorgos Papandreu investment said Tuesday in Berlin that aid for the countries of the zone euro to revive the economy and his country’s finances are an investment for the future that will benefit throughout the European Union. He is not an investment in the mistakes of the past, but the successes of the future, Papandreou told German business dome gathered on the day of German industry, who ensured that Greece will meet all the commitments made.We can achieve it. We can turn the crisis on one occasion, said Papandreou in an excited speech before the Confederation of German industry (BDI), which said that the Hellenes have the potential to achieve this. The Prime Minister of Greece said that the recovery of his country is subject to three factors and then cited the necessary support of financial institutions, the ratification by the parliaments of the 27 of the agreements of the extraordinary Summit in late July and the fulfilment of the agreements reached before the troika, consisting of the EUthe ECB and the IMF. Papandreou then stressed that his cabinet cannot guarantee that the two first points are met, since they are beyond their powers, but said that if will be with the third party, since Greece will meet the austerity targets. In favour of extending the Rescue Fund is why by what appealed new partners of the EU to have their parliaments approved the enlargement of the European Fund of financial stabilization (EFSF), which on Wednesday will be submitted to voting in the Finnish lower House and Thursday in the German Bundestag.

The Greek Prime Minister stressed that his people are assuming enormous sacrifices and, in allusion to Homer and helena mythology, pointed out that I wonder if we will achieve Ithaca as Ulysses or if efforts are nothing more than a work of Sisyphus. Greek criticism also made self-criticism on behalf of all politicians from Greece to say that we are not a poor country. We have been a badly governed country. After recognizing that Greece will need years to overcome the current crisis, he said that his country can recover to the levels of financial soundness of the EU’s most solvent partners. The j of the Government of Greece said that every euro we spend can be controlled via the Internet, admitted that the restructuring of the public sector is one of the most challenging his Government’s tasks, but said they strive to reduce red tape to facilitate growth. Papandreou also made rrencia to the painful way to the Greek people must go and the efforts of his Cabinet, with a drastic reduction in the deficit of the country in 2010, which, in the comparative case of Germany has done so far, would have meant a saving equivalent to 125,000 million euros. The Greek Prime Minister took advantage of his speech to German business Dome to reclaim investments in his country and cited as a sector with possibilities of alternative energies, in which Germany is a great example. Papandreou demanded respect for the efforts of its Government and its people, expressed appreciation for the solidarity of the European partners and warned that we must demonstrate to markets that we are capable of resolving the crisis. Source of the news: Greece requests to expand the bailout Fund while Merkel rejects new programmes in the EU

China maintained large commercial relations with Libya’s Qaddafi. The rebels threatened to cancel projects if they continued supporting the dictator. Beijing has investments in the country amounting to $ 18 billion. The Chinese Government acknowledged this Wednesday finally that the regime of Colonel Muamar Gaddafi, that maintained intense business relations, is near the end, expressing his hope that the North African country carried out a successful political transition.China pays attention to serious changes in the situation in Libya and respects the choice made by the Libyan people, said in a statement the Ministry of Foreign Affairs spokesman Ma Zhaoxu Chinese at the same time, the spokesman of the Chinese Ministry of Commerce, Shen Danyang, pointed out that China wants to play a positive role in the reconstruction of the Libya future alongside the international community.We expect Libya to regain stability soon and that China develop trade cooperation in all the aspects, Shen stressed at a press conference. The Chinese Government maintained good relations with the Gaddafi regime, especially in the oil sector, and fears that the likely arrival of rebels to power harms him. The concerns arose as a result of that, this week, Libyan insurgents will ensure that they nullify Russian and Chinese projects in crude oil from Libya for not having supported these two Governments rebellion against the 40 years of dictatorship of Gaddafi. China has investments in Libya worth $ 18 billion, projects in which they worked 35,000 Chinese before being evacuated at the start of the civil conflict in February. The Asian giant, a permanent member of the UN Security Council, not only abstained in the vote that in March approved a zone of aerial exclusion in Libya but condemned the subsequent bombings against the Gaddafi regime. However, most months later admitted the rebels as a valid interlocutor in relations with Libya, and even invited in June to his leader, Mahmud Jibril, whom Chinese, Yang Jiechi was received by the Minister of Foreign Affairs. On Monday, the Embassy of Libya in Beijing changed the traditional green flag tied to the Gaddafi regime by the tricolor of Libyan rebels. Source of the news: Gaddafi loses a historic ally, China: “We respect the choice of the Libyan people”