Italy's borrowing rates skyrocket, Monti scrambles (AP)

MILAN ? Italy's borrowing rates skyrocketed during bond auctions Friday, temporarily battering stock markets in Europe as the continent's escalating debt crisis laid siege to the eurozone's third-largest economy.

Italy's new government under economist Mario Monti faces a battle to convince investors it has a strategy to cut down the country's euro1.9 trillion ($2.6 trillion) debt. The auction results are also likely to fuel calls for the European Central Bank to use more firepower to cool down a rapidly escalating debt crisis.

Driving market fears is the knowledge that Italy is too big for Europe to bail out, like it has done with smaller nations Greece, Portugal and Ireland. Italy must refinance $200 billion by next April alone, but too-high borrowing rates can fuel a potentially devastating debt spiral that could bankrupt the country.

Friday's auctions showed that investors see Italian debt as increasingly risky. The country had to pay an average yield of 7.814 percent to raise euro2 billion ($2.7 billion) in two-year bills ? sharply higher than the 4.628 percent it paid in the previous auction in October. And even raising euro8 billion ($10.7 billion) for six months proved exorbitantly expensive, as the yield for that spiked to 6.504 percent, nearly double the 3.535 percent rate last month.

Following the grim auction news, Italy's borrowing rates in the markets shot higher, with the ten-year yield spiking 0.34 percentage point to 7.30 percent ? above the 7 percent threshold that forced other nations into bailouts.

Markets so far appeared to be giving Monti no honeymoon since he took power a week ago.

"Mario Monti has failed so far to impress bond markets he has the power and authority to do what is required," said Louise Cooper, markets analyst at BGC Partners.

Solid returns on Wall Street then helped European markets recover from earlier losses Friday.

Italy was not the only member of the 17-nation eurozone to have a disappointing auction this week. Even Germany ? the region's strongest economy and the main funder of eurozone bailouts ? suffered a shock Wednesday when it failed to raise all the money it sought, its worst auction result in decades. Spain also saw its borrowing rates ratchet sharply higher even after a landslide victory for the conservative Popular Party, which has made getting Spain's borrowing levels down its top priority.

Contagion over Europe's debt crisis also hit Hungary and Belgium. Moody's downgraded Hungary's sovereign debt to junk status, a decision that government hotly criticized. Hungary is not a member of the eurozone, but trades with many eurozone members. And the Standard & Poor's ratings agency downgraded long-term Belgian debt on Friday, citing a threat to its exports.

Monti emphasized his intention to balance Italy's budget by 2013 and to introduce "fair but incisive" structural reforms," his office said following a Cabinet meeting Friday.

Monti also has pledged to reform the pension system, re-impose a tax on homes annulled by Berlusconi's government, reduce tax evasion, streamline civil court proceedings, get more women and youths into the work force and cut political costs.

Olli Rehn, the EU's monetary chief, told reporters Italy's economic fundamentals were "solid" and praised Monti's economic reforms as "going in the right direction" but said more action was needed.

Monti's medicine ? budget rigor and growth measures while fairly distributing the social pain ? are "the right ones," Rehn said after meeting in Rome with the Italian leader. "I fully endorse them."

Rehn told Italian lawmakers they must implement the measures quickly.

"Over the longer term, productivity will depend on a well-educated labor force," Rehn said. "I am particularly concerned about high unemployment, which is a tremendous waste of talent that Europe simply cannot afford."

This week's developments have ratcheted up the pressure on the European Central Bank to step up its bond purchases in the markets, though Germany remains adamantly opposed. The current program is designed to support bond prices in the markets, thereby keeping a lid on the borrowing rates.

So far, the ECB has been buying limited amounts of bonds and has to sell an equivalent amount of assets. The ECB said Monday it bought bonds worth only euro4.5 billion ($6 billion) last week, down from euro9.5 billion ($12.7 billion) a week earlier.

Potentially, the ECB has unlimited financial firepower through its ability to print money and many countries in the eurozone, including France, want the bank to act more decisively to solve the debt crisis.

However, Germany finds the idea of monetizing debts unappealing, warning that it lets more profligate countries off the hook for their bad practices.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111125/ap_on_re_us/eu_italy_financial_crisis

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10 Best Cross-Platform Multiplayer Mobile Games (Mashable)

More and more mobile game developers are learning that their titles have to reach across playforms if they want to bring everyone in on the fun. With the smartphone market more evenly segmented than ever (iPhone and Android being the dominant operating systems), making games that people can play together, regardless of device, is key.

SEE ALSO: 10 Best iPhone Action Games

[More from Mashable: Top 10 Kindle Fire Cases]

Check out our picks for some of the best cross-platform mobile titles out there, and let us know in the comments if you have any favorites we might have missed.

[More from Mashable: 10 Best Racing Games for iPhone]

This story originally published on Mashable here.

Source: http://us.rd.yahoo.com/dailynews/rss/personaltech/*http%3A//news.yahoo.com/s/mashable/20111125/tc_mashable/10_best_crossplatform_multiplayer_mobile_games

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Ranveer, Anushka in sync from day one

Following the mega success of ?Band Baaja Baraat?, the hot jodi of Anushka Sharma and Ranveer Singh has joined hands once again for Yash Raj?s next release ?Ladies vs Ricky Bahl?. The duo who gel up quite well, find it easier to work opposite each other and share a great on screen and off screen [...]

Source: http://feedproxy.google.com/~r/newslatest/~3/S2kQN3hcpB4/7428.html

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End of the Packers' streak?

AP

The bad news is that I gained no ground on Rosenthal last week in the picks contest.

The good news?? I lost no ground, either.

We matched our records in Week 11 with 10-4 efforts; he picked the Dolphins when I foolishly trusted the Bills.? Fortunately, Rosenthal sided with the Jaguars while a scored a near hole in one, picking the Browns to win by the score of 13-10.

For the year, he?s 109-51.? I?m 98-62.

This weekend, when factoring in the Thanksgiving picks, we disagree on five games.? If I?m right on all of them, I can cut his lead nearly in half.

Now, where?s that damn wishbone?

Vikings at Falcons

Florio?s take:? Barring a miracle, Minnesota tailback Adrian Peterson will miss the game.?? And that will make it even harder for the 2-8 Vikings to avoid losing their ninth game of the season, especially since the Falcons now have a great opportunity to leapfrog the Giants and the Bears for a spot in the playoffs.? The fact that former Falcons quarterbacks coach and current Vikings offensive coordinator Bill Musgrave knows the Atlanta offense could help keep it from being a blowout.

Florio?s pick:? Falcons 31, Vikings 20.

Rosenthal?s take:? The Falcons have shown an ability to consistently beat bad teams, which may be enough to get them back to the playoffs. While the Vikings don?t feel 2-8 bad, their offense will be among the league?s worst without Adrian Peterson. Heck, it was among the league?s worst with Adrian Peterson.

Rosenthal?s pick: Falcons 28, Vikings 17.

Browns at Bengals

Florio?s take:? After close losses to the Steelers and Ravens, the Bengals should believe that they can play with anyone.? If the Bengals somehow can?t play with the Browns, the Bengals definitely won?t be playing past January 1.

Florio?s pick:? Bengals 20, Browns 0.

Rosenthal?s take: It took a dropped pass and some bad playcalling by the Jaguars for the Browns to win their fourth game. The Bengals won?t be so forgiving.? Jay Gruden has quietly been among the best offensive coordinators in the league.? He?ll be happy to face a division rival that isn?t Baltimore or Pittsburgh.

Rosenthal?s pick: Bengals 23, Browns 10.

Panthers at Colts

Florio?s take:? Carolina has become an unexpected entrant in the ?Suck of Luck? sweepstakes.? It won?t last.? The Panthers are better than the Colts, and the Colts are fine with that . . . at least until they clinch the top pick.

Florio?s pick:? Panthers 28, Colts 14.

Rosenthal?s take: The Colts have finally found a team they can score against! The Panthers defense is second-to-last in points allowed this year.? The only problem: The Colts are dead last in the same category.? And they don?t have Cam Newton.

Rosenthal?s pick: Panthers 28, Colts 24.

Texans at Jaguars

Florio?s take:? Publicly, the Texans see the glass as half full in the wake of Matt Schaub?s season-ending injury.? Privately, they have to be worried that Matt Leinart isn?t the answer.? If the Jaguars team that beat the Ravens last month shows up on Sunday, the Texans may be bidding farewell to their shot at a bye.

Florio?s pick:? Jaguars 20, Texans 17.

Rosenthal?s take:? I don?t expect much out of Matt Leinart, but I do expect him to be better than Blaine Gabbert. The Jaguars defense has been strong all year, but it struggled last week without Terrance Knighton and Clint Session. Allowing Colt McCoy and Chris Ogbonnaya to have breakout games was a bad sign.

Rosenthal?s pick: Texans 24, Jaguars 17.

Bills at Jets

Florio?s take:? With multiple teams clustered between 6-4 and 4-6 in the AFC, one of them likely will get hot and take the final playoff spot.? Though there?s a good chance that neither the Jets nor the Bills will be that team, one of them has to win this one (barring a tie, obviously).? Injuries have decimated the Bills, and the rollercoasting Jets will head back up the mountain once again, with three winnable games on tap before a trip to Philly and a ?visit? from the Giants.

Florio?s pick:? Jets 27, Bills 14.

Rosenthal?s take: Even the most cynical Bills fan couldn?t have imagined a collapse like this. They?ve lost three straight games by a combined score of 104-26. Fred Jackson is done for the year. Ryan Fitzpatrick?s future looks shaky. Their defense can even make Mark Sanchez look good. Bills fans deserve better.

Rosenthal?s pick: Jets 27, Bills 13.

Cardinals at Rams

Florio?s take:? The Rams predictably struggled through the tough seven-game stretch of their schedule to open the season.? But they?re now unexpectedly struggling through the supposedly soft spot.? The Cardinals continue to have issues at quarterback, and if the Rams slide to 2-9, Steve Spagnuolo may not be around to get fired after the season ends.

Florio?s pick:? Rams 23, Cardinals 13.

Rosenthal?s take:? This is a big game for Steve Spagnuolo. If the Rams can?t beat John Skelton in St. Louis, what games can they win? I have doubts the Rams will win many more games, but Spagnuolo should at least get his third win Sunday.

Rosenthal?s pick: Rams 20, Cardinals 17.

Buccaneers at Titans

Florio?s take:? The Bucs gained some confidence via a loss at Lambeau Field, and the Titans haven?t shown an ability to take advantage of opportunities to gain ground on the Texans.? With the seat heating up for Raheem Morris, look for Tampa to string a few wins together during a rare respite from their tough schedule.

Florio?s pick:? Buccaneers 27, Titans 20.

Rosenthal?s take: The Titans are 5-5 because they beat bad teams. Tennessee is 4-0 against teams that currently have a sub .500 record. The Bucs are a bad team. Raheem Morris? defense is near the bottom of every meaningful statistical category for a reason. He can?t complain about the schedule when they lose this one.

Rosenthal?s pick: Titans 24, Bucs 17.

Bears at Raiders

Florio?s take:? The banged-up Raiders and the healthy-but-for-the-most-important-position-on-the-field Bears each need this one.? Badly.? The Raiders are fending off the Broncos, and the Bears need to guard against a gaggle of would-be wild-card contenders.? Even without Jay Cutler, the Bears have the firepower to overcome an Oakland team that isn?t as good as its record would suggest, especially in light of all the injuries.

Florio?s pick:? Bears 21, Raiders 17.

Rosenthal?s take: This would have been Sunday?s best game before Jay Cutler?s thumb injury ruined it. I?m not buying that the Bears will survive without Cutler. He made Chicago?s offensive line look a lot better than it really was by making throws Caleb Hanie shouldn?t even attempt.

Rosenthal?s pick: Raiders 24, Bears 14.

Redskins at Seahawks

Florio?s take:? But for the 49ers, the Seahawks ? even at 4-6 ? would be on track for a second straight NFC West crown.? They remain tough to beat at home; just ask the Ravens.? Or the Redskins come Sunday night.

Florio?s pick:? Seahawks 20, Redskins 13.

Rosenthal?s take: This game looks close (and uninteresting) on paper.? It won?t be close. It will be uninteresting. The Seahawks? defense has quietly grown into a difference-making unit. Tarvaris Jackson is playing well enough at quarterback.? By well enough, I mean ?better than Rex Grossman.?

Rosenthal?s pick: Seahawks 28, Redskins 14.

Patriots at Eagles

Florio?s take:? The New England defense is improving, and the offense can?t get much better.? The longest-tenured coach in the NFL never has beaten the second longest-tenured coach in the NFL, and that?s not likely to change, regardless of whether Mike Vick or Vince Young is playing quarterback for the home team.

Florio?s pick:? Patriots 24, Eagles 20.

Rosenthal?s take: This is probably the toughest game left on New England?s schedule, even if Vince Young starts. Philadelphia?s wide receiver talent can overwhelm the Patriots? undrafted afterthoughts. The Eagles have the secondary to slow down New England in man coverage. That?s a long way of saying Philly will be in position to win, but blow another fourth-quarter lead.

Rosenthal?s pick: Patriots 35, Eagles 31.

Broncos at Chargers

Florio?s take:? What you gonna do, Chargers, when Tebowmania runs wild on you?? It?s illogical and counterintuitive, but after seeing what I?ve seen over the last three weeks, I can?t pick against the Broncos.? And after what I?ve seen from the Chargers since they started 4-1, I can?t pick San Diego to win, either.

Florio?s pick:? Broncos 15, Chargers 12.

Rosenthal?s take: A month ago, who would have believed that Tim Tebow would be in position to bury Philip Rivers? playoff hopes in this game? And who would have believed John Elway would be rooting for Rivers?

Rosenthal?s pick: Chargers 24, Broncos 20.

Steelers at Chiefs

Florio?s take:? Blown out four times this year, the fifth one is coming, courtesy of the team for which Todd Haley?s dad once worked.? The Steelers have too much firepower on offense, and the Chiefs simply have no answer for it.

Florio?s pick:? Steelers 38, Chiefs 13.

Rosenthal?s take: If Tyler Palko led the Chiefs to three points in Foxborough, he may score negative three points against Pittsburgh. Perhaps Kyle Orton will come in woefully unprepared during the second half like Carson Palmer did in his first Raiders game. That may be the only way this game stays interesting into the fourth quarter. (But, uh, watch it. It?s on NBC.)

Rosenthal?s pick: Steelers 30, Chiefs 10.

Giants at Saints

Florio?s take:? With a bye week plus an extra day to prepare for the Giants, the 7-3 Saints will do their best to keep pace with the 49ers for the No. 2 seed in the NFC.? Or possibly to cut San Fran?s lead in half, if the 9-1 Niners slip up in Baltimore on Thursday night.

Florio?s pick:? Saints 34, Giants 21.

Rosenthal?s take: Conflicting emotions here. As Florio has mentioned, I got a fleur de lis tattoo while in college at Tulane. I also picked the Giants to win the NFC East, a choice that isn?t looking as good these days. When in doubt, take the team that hasn?t lost at home.? (Note: I didn?t actually get that tattoo.? Also: I?m not actually 15. I?m 19.)

Rosenthal?s pick: Saints 33, Giants 30.

Source: http://profootballtalk.nbcsports.com/2011/11/23/pfts-thanksgiving-picks-2/related

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Chrome to gain plug and play gamepad support and WebRTC video chat in 2012

Seems like Big G updates its browser of choice with fresh features every time we turn around, and one of Google's own, dev advocate Paul Kinlan, revealed that another spate of upgrades are arriving for Chrome early next year. The headliner is plug-and-play support for gamepads, but native support for cameras, microphones and open-source video chat app WebRTC are on the docket too -- features that give Chrome some considerable gaming chops when combined with its existing WebGL and HTML 5 prowess and, he says, could bring OnLive to the web without plugins. If you thought Angry Birds on a browser was a great, we can't wait to see what's in store when a proper controller and integrated video chat are involved.

Chrome to gain plug and play gamepad support and WebRTC video chat in 2012 originally appeared on Engadget on Fri, 25 Nov 2011 14:39:00 EDT. Please see our terms for use of feeds.

Permalink TechCrunch  |  Edge, Paul Kinlan (Google+)  | Email this | Comments

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/rzXCTL3jrOY/

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LeapFrog LeapPad Explorer

The LeapFrog LeapPad Explorer ($99.99 list) is the new personalized learning tablet just for kids! A built-in camera/video recorder, a library of over 100 cartridge games and activities and innovative creativity and reading apps offer limitless learning and endless ways to play.

The LeapPad measures 1 by 5.1 by 7 inches (HWD) and takes four AA batteries. Its green and white chassis is rugged enough to handle the rough-and-tumble play of children. The LeapPad has a built-in Webcam that can take both photos and videos. The high-resolution touch screen measures five inches and can be used both horizontally and vertically. LeapPad works with all Leapster Explorer and LeapFrog Explorer cartridge games and downloadable apps?more than 100 learning adventures available on LeapFrog's site. Touch the screen with a finger, tap it with the stylus or turn, twist and shake the tablet for exciting motion-based play.

Reinforce school skills like reading and mathematics, and build skills like art, music, language, health and hygiene. Skill levels adjust automatically for each child?keeping the challenge just right and remembering progress so the learning and fun keep moving forward.

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/jKXsPMwvhzs/0,2817,2396653,00.asp

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Egyptian court orders release of 3 US students (AP)

PHILADELPHIA ? A court in Egypt has ordered the release of three American students arrested during a protest in Cairo, a lawyer in Philadelphia confirmed Thursday.

Derrik Sweeney, Luke Gates and Gregory Porter, who attend the American University in Cairo, were arrested on the roof of a university building near Cairo's iconic Tahrir Square on Sunday. Officials accused them of throwing firebombs at security forces fighting with protesters.

Attorney Ted Simon, who represents Porter, a 19-year-old student at Drexel University in Philadelphia, said he is still waiting to find out if the students actually have been set free.

Sweeney's mother, Joy Sweeney, said she is "absolutely elated" at the news of her 19-year-old son's release.

"I can't wait to give him a huge hug and tell him how much I love him," she said, adding that the news of the court order was the best Thanksgiving gift.

The 21-year-old Gates is a student of Indiana University.

Earlier Thursday, Egypt officials said a court had ordered the students' release. They spoke on condition of anonymity because they are not authorized to speak to the media. They did not say when the students would be released.

Joy Sweeney said she wasn't sure when her son, a student at Georgetown University, would be returning to their home in Jefferson City, Mo.

"If he can find his passport (then he'll leave) tomorrow, if not, it won't be until Monday," she said.

Derrik Sweeney interned for U.S. Rep. Blaine Luetkemeyer, R-Mo., earlier this year. Luetkemeyer's spokesman Paul Sloca, said the congressman is "extremely pleased that he's safe and coming home, especially on Thanksgiving."

Sweeney said she had not prepared for a Thanksgiving celebration, although a friend had taken her some food. She said the idea of a Thanksgiving feast had seemed "absolutely irrelevant" before the news of her son's pending freedom.

Asked what she thought her son would take away from his arrest, Sweeney said she thought he would make something useful of it.

"I'm sure that he'll put a life-lesson learning experience into a positive story," Sweeney said. "He's a writer, he will write about this experience."

___

Associated Press reporter Ed Donahue in Washington contributed to this report. Maggie Michael reported from Cairo.

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/ap/20111124/ap_on_re_us/egypt_american_students

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