HSBC to cut HK prime rate 75 bps to 6.00 pct

HONG KONG, Jan 23 (Reuters) - HSBC Holdings Plc (0005.HK: Quote, Profile, Research) (HSBA.L: Quote, Profile, Research) said on Wednesday it would lower its best lending rate in Hong Kong by 75 basis points to 6.00 percent.

The new rate will come into effect from Thursday, the bank said. It will also cut its deposit rates.

HSBC last changed its best lending rate in December, when the bank cut the rate by 25 basis points.

The Hong Kong Monetary Authority (HKMA) had earlier on Wednesday cut the base rate charged through its overnight discount window by 75 basis points to 5.00 percent.

That move came after the U.S. Federal Reserve slashed benchmark interest rates by three-quarter of a percentage point to 3.5 percent in a bid to head off a recession and halt a global rout in stocks.

Hong Kong tracks U.S. interest rate moves because its currency is pegged to the U.S. dollar, although local banks have some leeway to lag U.S. moves when setting prime rates. (Reporting by Alison Leung; Editing by Anne Marie Roantree)

Source: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSHKU00094320080123

Apple Earnings Up, but Stock Falls on Outlook

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By LAURA M. HOLSON

Published: January 23, 2008

Apple beat Wall Street expectations with its earnings report Tuesday, but its shares fell more than 11 percent in after-hours trading as investors fretted over its prospects.

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David Paul Morris/Getty Images

The Macworld Expo this month in San Francisco. Revenue from Mac computers is up 47 percent.

Related

Bits: Can the Touch Revive Apple’s iPod Sales? (January 22, 2008)

Times Topics: Apple Inc.

Apple Earnings Statement

Apple earned $1.58 billion, or $1.76 for each diluted share, in the first quarter of fiscal 2008, compared with $1 billion, or $1.14 a share, in the period a year earlier. Revenue was $9.6 billion, up from $7.1 billion.

But while Apple executives paraded those as record-setting figures, investors focused on projections for the next quarter, which were lower than what analysts had expected. Apple said it expected revenue of about $6.8 billion for the second quarter, or diluted earnings of 94 cents a share. Wall Street was forecasting profit of $1.09 a share on revenue of $7 billion.

Peter Oppenheimer, Apple’s chief financial officer, gave two reasons for the lower forecast: a decline in software sales and the normal slowdown in business after Christmas.

When asked whether the lumbering economy could be a factor in Apple’s earnings outlook, Mr. Oppenheimer said: “We’ll leave the economic forecasting to others.” Instead, he said, “our focus is on managing our business.”

A slowdown in the economy is likely to hurt technology companies like Apple, which are dependent on consumers shelling out hundreds of dollars for their products. Just last week, Sprint Nextel announced that it was losing customers more quickly than expected, raising fears that spending on cellphones and other devices was slowing across the industry. Intel was also cautious about its financial outlook last week, in part because of concerns about a recession.

A. M. Sacconaghi Jr., a senior analyst at Bernstein Research, said one reason for concern about Apple was that domestic sales of the iPod were less robust than the company had expected.

Indeed, Mr. Oppenheimer of Apple said that sales of the iPod in the United States were little changed in the quarter, although iPod sales abroad were quite strong. (Over all, Apple saw a 5 percent increase in iPod sales in the first quarter compared with the period a year earlier.)

What is worrisome, Mr. Sacconaghi said, is whether the flat domestic iPod sales are a harbinger of things to come for other Apple products.

“That’s the big question,” he said. “If they feel it here, could they feel it in other products and other parts of the world?”

Apple shares fell $5.72, or 3.5 percent, to close at $155.64. They were down more than $17 in after-hours trading.

The iPhone remained a bright spot for the company. Apple sold 2.3 million in the quarter, according to Mr. Oppenheimer, and is on track to sell 10 million in 2008, as projected.

Apple shipped 2.3 million Macintosh computers, and revenue from Macs grew 47 percent from the year-ago quarter.

Mr. Sacconaghi said sales of Mac computers could start showing lower year-over-year growth. IPod sales could suffer, he said, because the company has been slow to update its cheaper iPod models, and holiday sales of MP3 players at the retailer Best Buy were down.

At the Macworld Expo last week, Steven P. Jobs, Apple’s chief executive, made several announcements about new products or expanded services, including a new ultralight computer called the MacBook Air that, while elegant, has limited memory. Mr. Jobs also announced a deal with all of Hollywood’s major studios to allow digital movie rentals through the iTunes Store.

http://www.nytimes.com/2008/01/23/technology/23apple.html?em&ex=1201237200&en=bffa10625a9627be&ei=5087%0A

Source:

Revamped airport site includes Southwest, Skybus deals

Port Columbus International Airport is rounding out a year of record passenger growth by growing its own fledgling travel Web site.
The Columbus Regional Airport Authority recently unveiled new features to flycolumbus.com, which include a list of the lowest fares to the 49 airports served by the airport's 12 carriers and an e-mail alert option. The site also features a list of airline specials, international air fares and first-class bargains.
Airport spokeswoman Angie Tabor said the site has been live for about a year, but the authority saw a chance to offer more options.
"We liked (the site) but felt it could provide even more information to travelers," she said.
To manage the information, the airport is using travel sites airfarewatchdog.com and farecompare.com for up-to-date pricing information.
Tabor said the fare listings for Columbus carriers are different from other ticketing sites such as expedia.com that don't include information from Southwest Airlines Co., the airport's largest carrier with 22 percent of the market, and Skybus Airlines Inc., the Columbus-based discount flyer that took off in May.
"Given the fact that we have such a balanced market share, the flight pricing is very competitive," Tabor said, adding that the airport hopes to capture new passengers from areas outside Central Ohio as a result. "This is a tool people can easily log onto to see how much they can save by flying out of Columbus."

Source:http://www.bizjournals.com/columbus/stories/2007/12/10/daily15.html

School Specialty and Coach John Wooden Partner to Present Premier ...

Partner to Present Premier Character Development Agenda Programs
November 28, 2007: 01:19 PM EST
APPLETON, Wis., Nov. 28, 2007 (PRIME NEWSWIRE) -- Legendary basketball Coach John Wooden and School Specialty (Nasdaq:SCHS) have teamed up to create student agendas that communicate character-building messages for primary and elementary students across the country.
Coach Wooden and School Specialty, through its Premier(tm) product line of customized student agendas, planners and workbooks, will offer primary and elementary schools a unique character-development initiative delivered through special editorial content in student agendas. Content of the Premier Character Development Agenda Programs(r) are built on Coach Wooden's acclaimed Pyramid of Success(c) and his best-selling children's literature, Inch and Miles Journey to Success, Heroes of Beesville, Fiesta, and Adventure Underground.
"I'm pleased to be associated with School Specialty and its Premier product line," said Coach Wooden. "Premier products have been in the education market for almost 25 years and introduced the market to the idea of student planners and school agendas. School Specialty has a solid reputation for developing quality educational products with messages that speak directly to youngsters."
Coach Wooden said his goal in writing the children's books was to bring the message and values of his Pyramid of Success to young people. "I created the Pyramid of Success over five decades ago to help me teach its important values to those under my supervision in the classroom and on the basketball court," said Coach Wooden. "The student agendas, which are based on the Inch and Miles children's book, carry that mission into the 21st century in a positive and powerful manner."
Coach Wooden's Pyramid of Success is built on 15 universally accepted values or building blocks. Those building blocks embody support for the physical, mental, social and emotional development of the whole child and focus on: Hard Work; Friendship; Loyalty; Cooperation; Enthusiasm; Self-Control; Alertness; Action; Determination; Fitness; Skill; Team Spirit; Poise; Confidence; and Personal Best.
The Premier Character Development Agenda Programs are focused on helping students understand how each of the Coach's time-honored principles can serve as a building block in their quest for personal success.
"Success," said Coach Wooden, "is happiness in your heart because you made the effort, 100%, to do your best."
"Our goal in partnering with Coach Wooden was simple," said Joel Zucker, Vice President of Marketing and Product Development for the Premier product line. "We wanted to use our companywide customer network to bring Coach Wooden's timeless educational materials to more schools and more students."
School Specialty worked with Coach Wooden to develop agenda programs for primary and elementary students. "Both of these programs," said Zucker, "are based on Coach Wooden's Pyramid of Success and are supported by teacher and parent resources. They start with the central messages articulated by Coach Wooden and include classroom, home and community activities built around the Coach's 15 central building blocks. The entire effort is targeted at positively impacting student behavior and student character development."
Schools that have already embraced Coach Wooden's children's literature and his Pyramid of Success speak highly of the program. "This (the Pyramid of Success) has been the most successful character education program that I have been involved with," said Eric Forseth, principal of Alvin Dunn Elementary in San Marcos, CA. "And it's literacy based. Our teachers and the kids love having the Inch and Miles book to use during the month to study each of the traits."
Forseth added that providing teachers and students with a common language to speak from also served to positively impact his school's learning climate.
"Working with Coach Wooden has been an amazing experience," said Zucker, noting that staff members who met and worked with Coach Wooden repeatedly remarked on his passion to engage and inspire students. "Helping students do their best," said Zucker, "is what this program is truly all about."
About Coach John Wooden
UCLA's basketball program gained world-wide recognition under the leadership and teaching of head basketball coach John Wooden, who announced his retirement in 1975 after his 27th season as the Bruins' head coach with the best winning record in the history of the NCAA March Madness national championships - 10 national titles including seven in a row and four perfect seasons. Wooden is only one of three people to ever be inducted into the Basketball Hall of Fame as a player and a coach. ESPN chose John Wooden as the "Greatest Coach of the 20th Century." In 2003, President George W. Bush awarded him with the Presidential Medal of Freedom.
For more information about Coach Wooden, visit www.CoachWooden.com
About School Specialty
School Specialty, Appleton, WI, is a leading education company that provides innovative and proprietary products, programs and services to help educators engage and inspire students of all ages and abilities to learn. Working with educators, School Specialty reaches beyond the scope of textbooks to help educators, guidance counselors and school administrators ensure that every student reaches his or her full potential

Source: http://money.cnn.com/news/newsfeeds/articles/primenewswire/132195.htm

Is T-Mobile really news?

T-Mobile USA Partners with One Laptop per Child To Help Children (laptop.org) in the Developing World, Thus Giving Laptop.org The First Confirmed Order.
T-Mobile USA Media Relations, 425-378-4002 mediarelations@t-mobile.com T-Mobile USA, Inc. today announced it is partnering with One Laptop per Child for its Give One Get One initiative. T-Mobile is offering one year of complimentary T-Mobile HotSpot access to people who donate an XO laptop to a child in a developing country through the campaign.
"T-Mobile believes in helping people stay connected to those who matter most in their lives. The Give One Get One program delivers on our unmistakable commitment to enhancing personal relationships," said Joe Sims, vice president and general manager for Broadband Services, T-Mobile USA. "We are excited and proud to partner with One Laptop per Child, and are hopeful that our contribution will not only encourage other people to participate, but also make a positive difference."
The Give One Get One philanthropic campaign puts laptops into the hands of children in the developing world. For a limited time - from Nov. 12 to Nov. 26, 2007 - people can donate $399 for two laptops. One laptop will be given to a child in the developing world. The other laptop will be sent to the donor along with information on how to activate the one year of complimentary T-Mobile HotSpot service.
T-Mobile HotSpot service provides fast and reliable Wi-Fi Internet access at nearly 8,500 public T-Mobile HotSpot locations throughout the country. As the largest carrier-grade, commercial wireless broadband network in the United States, T-Mobile HotSpot service is available at select Starbucks coffee shops, Borders bookstores, Hyatt Hotels, Amtrak stations and more than 70 major airports across the United States.
"We are delighted that T-Mobile is partnering with One Laptop per Child and offering complimentary Wi-Fi access to people who participate in the Give One Get One program," said Nicholas Negroponte, founder and chairman of One Laptop per Child. "This is a terrific offer that we encourage people to take advantage of, and we thank T-Mobile for its generosity and support of OLPC and the Give One Get One program."
For more information about OLPC and Give One Get One, please visit www.laptopgiving.org. To find more information about T-Mobile HotSpot service and locations, visit hotspot.t-mobile.com.
(1) Limited time offer; subject to change. Participating US locations only. Complimentary service valid for one year from date of activation. For more details see T-Mobile HotSpot terms and conditions at hotspot.t-mobile.com.
About T-Mobile USA, Inc.
Based in Bellevue, Wash., T-Mobile USA, Inc., is a member of the T-Mobile International group, one of the world's leading companies in mobile communications, and the mobile telecommunications subsidiary of Deutsche Telekom AG. By the end of the second quarter of 2007, approximately 112 million mobile customers were served by the mobile segment of the Deutsche Telekom group -- 27 million by T-Mobile USA -- all via a common technology platform based on GSM, the world's most widely used digital wireless standard. T-Mobile's innovative wireless products and services help empower people to connect effortlessly to those who matter most. Multiple independent research studies continue to rank T-Mobile highest, in numerous regions throughout the U.S., in wireless call quality and wireless customer care. For more information, please visit www.t-mobile.com. T-Mobile is a federally registered trademark of Deutsche Telekom AG. stick together is a registered trademark of T-Mobile USA, Inc.
About OLPC
One Laptop per Child (OLPC at www.laptop.org) is a non-profit organization created by Nicholas Negroponte and others from the MIT Media Lab to design, manufacture and distribute laptop computers that are sufficiently inexpensive to provide every child in the world access to knowledge and modern forms of education. These XO laptops will be rugged, open source, and so energy efficient that they can be powered by a child manually. Mesh networking will give many machines Internet access from one connection. The pricing goal is $100.
The XO laptops will be sold to governments and issued to children by schools on a basis of one laptop per child. Starting November 12 and for two weeks only, individuals in the U.S. and Canada will be able to participate in the Give One Get One program and for US$399 get a laptop while giving one simultaneously to a child in a developing nation. For more information on the Give One Get One program, go to www.laptopgiving.org.
A Complimentary One-year Subscription to T-Mobile(R) HotSpot Encourages Participation in Give One Get One Program

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