China’s economy grows 7.7%

BEIJING (AP) ― China’s economic growth decelerated in the final quarter of 2013 and appears set to slow further, adding to pressure on its leaders to shore up an expansion as they try to implement sweeping reforms. The world’s second-largest economy grew by 7.7 percent over a year earlier, down from previous quarter’s 7.8 percent, data showed Monday. Growth for the full year was 7.7 percent, tying 2012 for the weakest annual performance since 1999. Those figures appeared to mask a much sharper d

Jan. 20, 2014

Human ashes into diamonds

Algordanza, a company based in Switzerland, is transforming human ashes into diamonds, Business Insider reported.A raw diamond created from human ashes (Algordanza)According to the report, diamonds are essentially just pressurized carbon atoms. “Since diamonds are made of carbon and the human body is roughly 18 percent carbon, it is possible to transform human ashes into diamonds,” it said.“It’s possible to separate out the carbon from the other elements in the ashes. These carbon atoms can be u

Jan. 20, 2014

Apple to pay $32.5m over apps

WASHINGTON (AP) ― Kids gleefully snapped up virtual pet food, gems or other items while absorbed by games on their mobile devices. Parents felt the sting of sometimes hefty charges from Apple Inc. incurred by accident or without their permission.Following tens of thousands of consumer complaints, the Federal Trade Commission said Wednesday that Apple Inc. will pay at least $32.5 million to settle a federal case involving those in-app purchases.Apple also must change its billing practices to make

Jan. 16, 2014

House passes $1.1 trillion spending bill

WASHINGTON (AP) ― A $1.1 trillion spending bill for operating the government until just before next fall’s election steamed through the battle-weary House on Wednesday over tepid protests from tea party conservatives, driven by a bipartisan desire to restore painful cuts in domestic and defense programs and show disaffected voters that Congress can do its job. The bill swept through the House on a 359-67 vote and was on track for a big Senate vote by week’s end. Republicans voted for the bill by

Jan. 16, 2014

IMF sees global growth, deflation risks rising

WASHINGTON (AFP) ― lnternational Monetary Fund chief Christine Lagarde said Wednesday that growth in the global economy was picking up, but warned of the “rising risks” of deflation.“Momentum strengthened in the latter half of 2013, and should strengthen further in 2014 ― largely due to improvements in the advanced economies,” Lagarde said in a speech at the National Press Club in Washington.The IMF managing director, however, declined to put numbers on the growth rate ahead of next week’s updat

Jan. 16, 2014

U.S. economic growth healthy over holidays

WASHINGTON (AP) ― A Federal Reserve survey shows economic growth remained healthy in most U.S. regions in late November and December, helped by gains in consumer spending and factory output. Nine of the Fed’s 12 banking districts described growth as moderate, according to the Beige Book survey released Wednesday. That’s up from seven districts in October through early November. And two of those districts said growth had accelerated since the previous report. Only two districts ― Boston and Phila

Jan. 16, 2014

Carmakers use aluminum, carbon fiber to cut weight

DETROIT (AFP) ― More vehicles than ever on display at the Detroit auto show are using nontraditional materials ― aluminum, carbon fiber, magnesium ― as U.S. automakers fight to get vehicle weight down and gas mileage up.Ford‘s introduction of aluminum body panels for its workhorse F-150 pickup truck was a radical shift which it said would knock up to 317 kilograms from the truck’s weight.But it presents a challenge to discerning buyers who are accustomed to the country’s premier pickup being bui

Jan. 15, 2014

JAL grounds Dreamliner after battery issue

TOKYO (AFP) ― Japan Airlines has grounded another one of its Dreamliner jets after “white smoke” was seen outside the cockpit window during maintenance, a year after the aircraft suffered a months-long global grounding over battery problems.The carrier said that a technician at Tokyo’s Narita airport, who was working on the parked plane before its departure to Bangkok Tuesday afternoon, first noticed what appeared to be smoke outside the cockpit window and then a battery system warning.An invest

Jan. 15, 2014

Luxury, sports cars shine at auto show

DETROIT (AFP) ― Luxury vehicles and powerful sports cars stole the spotlight on the second day of the Detroit auto show Tuesday. Here are the highlights of what was unveiled in Motor City at the premier U.S. auto show.Toyota’s luxury Lexus brand introduced a performance version of its powerful RC coupe ― the RC F ― fitted with a V8 engine with 450 horsepower, 383 pound-feet of torque and an attention to styling and detail that includes an F pattern in the mesh of its grill.Nissan’s luxury Infini

Jan. 15, 2014

World Bank says Fed taper poses risks to global pick-up

WASHINGTON (AFP) ― The World Bank on Tuesday raised its growth forecasts for the global economy, but warned of potential volatility in capital flows as the United States withdraws its stimulus.In its latest Global Economic Prospects report, the World Bank said that both high-income and developing countries appeared to be “finally turning the corner five years after the global financial crisis.”Global economic growth was estimated to hit 3.2 percent this year, accelerating from a 2.4 percent annu

Jan. 15, 2014

Hot cars

• Porsche 911 TargaPorsche is dialing up the 911 with two new models, the Targa 4 and 4S. As with the original 1965 Targa, the new models features a roof bar, movable front roof section and wraparound rear window. But the roof of the Targa 4 and 4S can open and close at the push of a button and stow behind the rear seat. Porsche said it is aiming for a “sporty and low-slung profile.” • Corvette Z06 General Motors rolled out a hot new version of the Corvette Stingray called the Z06, with a stagge

Jan. 14, 2014

Power under the hood, luxury inside

DETROIT (AFP) ― The Detroit auto show opened with a renewed optimism Monday as confident carmakers forecast more growth and unveiled powerful new trucks, sexy sports cars and an abundance of luxury.After years of mass layoffs and painful restructuring which brought the U.S. auto industry to its knees, the darkest days of the recession are receding into the rear-view mirror amid booming sales. The bullish mood is on show in the Motor City, where more than a dozen carmakers will be unveiled during

Jan. 14, 2014

Chevy sweeps N. America car and truck awards

General Motors Co.’s Chevrolet brand swept the North American Car and Truck of the Year awards at the Detroit auto show Monday with its Corvette Stingray sports car and Silverado pickup. The win, which marks the first time Detroit-based GM has taken both awards since 2007, underscores the automaker’s product resurgence following its 2009 U.S. government-backed bankruptcy reorganization. Ford Motor Co. in 2010 was the last to sweep the awards with the Transit Connect van and the hybrid version of

Jan. 14, 2014