Gina Rinehart, an Australian mining magnate, has become the world’s richest woman, according to the country’s respected business magazine BRW.
The magazine says Gina Rinehart, 58, is now worth A$29 billion ($28 billion), having increased her wealth by nearly A$20 billion in a year.
It is now possible that she could become the world’s first $100 billion person, the magazine says.
It says the heiress to an iron-ore prospecting empire earns A$52 million a day, A$1 million every half hour or A$ 600 a second.
Gina Rinehart, 58, is now worth A$29 billion ($28 billion), having increased her wealth by nearly A$20 billion in a year
“The increase in her wealth is unparalleled. It is a product of foreign investment in new projects, increased production and a recovery in the iron-ore price over the past six months,” BRW wrote.
Gina Rinehart’s rise in wealth means she now surpasses the $25 billion of Christy Walton, the widow of the founder of America’s Wal-Mart retail chain.
However, Gina Rinehart has caused controversy by campaigning against government attempts to tax mining companies.
Gina Rinehart has also been involved in a nasty fight with three of her four children over control of the family trust.
An overview of the average annual hours worked per person in selected countries puts South Korea top with a whopping 2,193 hours, followed by Chile on 2,068.
Workers in UK clock up 1,647 hours and Germans 1,408 – putting them at the bottom of the table, above only the Netherlands.
Greek workers have had a bad press recently but they work longer hours than any other Europeans. Their average of 2,017 hours a year puts them third in the international ranking, based on figures compiled by the Organisation for Economic Co-operation and Development (OECD).
It’s worth mentioning that the OECD has only 34 members – most of them developed countries – and some very important countries, such as India, China and Brazil, are not among them.
The OECD data includes full and part-time salaried workers and the self-employed. It includes all the hours they work, including overtime.
While figures are available for some other parts of the world, they are not directly comparable to the OECD data because they are collated very differently or they are out of date, so we are focusing only on the OECD nations.
But by looking at data from the OECD and the International Labour Organization (ILO) we can see some broad and interesting trends.
“Asian countries tend to work the longest [hours], they also have the highest proportion of workers that are working excessively long hours of more than 48 hours a week,” says Jon Messenger, an ILO expert on working hours.
“Korea sticks out because it’s a developed country that’s working long hours,” he says.
“Normally it’s developing countries like Bangladesh, Malaysia, Thailand, Sri Lanka – countries like this that are working long hours.”
An overview of the average annual hours worked per person in selected countries puts South Korea top with a whopping 2,193 hours, followed by Chile on 2,068
But working longer doesn’t necessarily mean working better.
“Generally speaking, long working hours are associated with lower productivity per hour. Workers are working very long hours to achieve a minimum level of output or to achieve some minimum level of wages because frankly they’re not very productive,” Jon Messenger says.
The picture is very different in the developed world, where working hours have been falling.
“Over the last century, you’ve seen a reduction from very long working hours – nearly 3,000 a year at the beginning of the 1900s – to the turn of the 21st Century when most developing countries were under 1,800 hours,” says Jon Messenger.
“And indeed some of the most productive countries were even lower than that.”
The drop in working hours is in part a reflection of the greater number of part-time workers in the developed world. A large number of part-time workers brings down a country’s average – in the case of Japan, for example, a high proportion of people work excessive hours, but many also work part-time, leaving the country in the middle of the table, with 1,700 hours.
“You have more and more people working part-time hours,” says Jon Messenger.
“They’re quite capable of supporting themselves, quite capable of producing what they need to produce, so it’s just not necessary to work longer than that.”
Tighter labor laws in developed countries, particularly in Europe, have also reduced working hours. The differences between the most developed nations are small but leave entitlement makes a difference.
Jon Messenger says the average Briton works 150 fewer hours than an American.
“The difference is really driven by the fact that the US is the only developed country that has no legal or contractual or collective requirement to provide any minimum amount of annual leave,” he says.
The UK, in contrast, is subject to the European working time directive, which requires at least four weeks of paid annual leave for every employee.
Some European countries have a higher statutory level of paid leave – 25 days in Austria, Denmark, France, Italy, Luxembourg and Sweden in 2010, according to the European Industrial Relations Observatory (EIRO). And some employers provide more paid leave than the statutory minimum.
Paid public holidays, which come on top of that, averaged between nine and 10 in the European Union in 2010.
“The combined total of agreed annual leave and public holidays varied in the EU from 40 days in Germany and Denmark to 27 days in Romania – a difference of around 48% or 2.5 working weeks,” EIRO said in a report published last year.
When comparing hours worked, however, there’s one more thing which must be acknowledged.
Each country collects its own data, and their methods may be not always be perfectly comparable.
A new study has found that when it comes to finding a mate, men may not be looking for charm and intelligence, but rather a woman who looks dumb and sleepy enough for a one-night-stand.
In an article soon to be published in the journal Evolution and Human Behavior, University of Texas at Austin graduate student Cari Goetz and her team focused on the so-called sexual exploitability hypothesis, which is based on the different ways in which men and women approach reproduction.
According to the researchers, early women took a chance by getting involved with emotionally unattached men who had no clear intention of raising children with them.
Men, however, had little concern for the consequences of casual trysts, given that their bodies produce somewhere around 85 million sperm cells every day — per testicle, according to Slate.
Cari Goetz began with the assumption that the brain of modern women is still sensitive to the pregnancy-related consequences of casual sex, making them more reluctant to engage in it than men.
The goal of the study was to test out the hypothesis that a woman who appears silly or inert, or in other words more “sexually exploitable”, is a turn-on for the average straight man.
In the evolutionary psychology sense, the word “exploitable” simply indicates that a woman is willing or can be more easily pressured into having sex, even if she is a prostitute or a nymphomaniac.
A new study has found that when it comes to finding a mate, men may not be looking for charm and intelligence, but rather a woman who looks dumb and sleepy enough for a one-night-stand
The researchers began testing their model by asking a large group of undergraduate students to nominate some specific actions, body postures, attitudes and personality traits that might signal vulnerability, such as exhaustion, intoxication, or low intelligence.
In the end, the participants of the study had produced a list of 88 signs that a woman might by especially receptive to a man’s advances.
Among the chosen red flags were: lip lick/bite; over-the-shoulder look; sleepy; intoxicated; tight clothing; fat; short; unintelligent; punk; attention-seeking and touching breast.
Next, Cari Goetz and her colleagues scoured the Internet for publicly available images of women displaying each of these 88 cues.
Once they had pictures of women licking their lips, partying, wearing sexy clothing, etc., the researchers cross-checked them with a separate group of students who presumed that the photos indeed matched the cues.
The researchers then invited a fresh group of 76 male students and presented them with the images of presumably “ripe-for-the-picking” women, asking them what they thought of each woman’s overall attractiveness, how easy it would be to “exploit” her using anything from a pickup line to physical force, and her appeal to them as either a short-term or a long-term partner.
The study has revealed that the images of fat or short women had no effect. The participants of the study did not view them as either easy to bed or appealing as partners.
But when it came to reading the more psychological and contextual cues -pictures of silly or childish-looking women, or of women who looked sleepy or drunk, men rated them as being easy to ‘score’ with.
More importantly, the dumb-looking and inert women were also perceived as being more attractive than their more lucid or intelligent-looking peers, but only when it came to short-term relationships.
When the men were asked to judge the same liquored-up, silly-looking women in the photos as potential girlfriends and wives, they had entirely lost their appeal on them.
In a follow-up study, the authors tried to add some nuance to their sexual exploitability hypothesis.
Graduate student David Lewis led a project to zero in on the specific type of man who would be most aware to the sort of ‘exploitability’ cues.
David Lewis and his colleagues asked 72 straight men to evaluate the same photos as before.
But this time, the researchers also measured some key personality traits in the men themselves, as well as the extent to which they desired and pursued no-strings-attached sex.
This follow-up study has found that the more promiscuous men who happened also to have deficiencies in personal empathy and warmth were the ones most attuned to female “exploitability” cues, which seems to indicate that not all men are sleazy when it comes to pursuing sex.
Amid a flurry of lawsuits over Facebook’s IPO, Morgan Stanley, the company’s top underwriter, says it’s prepared to pay back investors who were burned when they bought shares.
Morgan Stanley announced in a memo on Wednesday that it is reviewing Facebook trades and would adjust prices for some retail customers who overpaid.
The IPO mishaps have sparked numerous lawsuits against Morgan Stanley, the NASDAQ stock exchange and Facebook itself by shareholders who claimed they hid the social networking company’s weakened growth forecasts just before it went public.
The allegations raised questions about whether top investors profited at the expense of smaller buyers.
Meanwhile, Facebook is in talks with the New York Stock Exchange to move its stock from the NASDAQ Stock Market after the botched IPO on Friday, according to a person familiar with the matter.
The person spoke on the condition of anonymity because they were not authorized to speak publicly.
Facebook’s much-anticipated IPO was delayed by a half-hour on Friday because of technical glitches on the NASDAQ.
Morgan Stanley announced in a memo on Wednesday that it is reviewing Facebook trades and would adjust prices for some retail customers who overpaid
After pricing at $38, Facebook’s stock closed up 23 cents on Friday and has been down since. On Wednesday, it closed up $1, at $32, still down nearly 16% from the IPO price.
NYSE declined to comment.
The news comes as even Facebook CEO Mark Zuckerberg dumped his own shares in the company, making $1.13 billion as the stock nosedived, according to company filings.
On Wednesday, shareholders filed a lawsuit against Facebook and the banks behind the company’s stock, Morgan Stanley and Goldman Sachs.
Additionally, both the Securities and Exchange Commission and the Financial Industry Regulatory Authority have begun looking into the matter.
The U.S. Senate Banking Committee has also launched an inquiry and the state of Massachusetts has subpenaed Morgan Stanley, demanding answers.
The House Financial Services Committee said that it was also gathering information for their own review.
Facebook stock rose 3.3% in trading on Wednesday, rising to $32 a share.
However, a new analysis said the stock could fall to as low as $9.59.
That’s a far cry from the $37.58 that Zuckerberg fetched for 30.2 million shares he unloaded on Friday.
By the end of trading on Tuesday however the price had dropped to $31 meaning Zuckerberg saved himself a cool $174 million by getting out early.
Mark Zuckerberg, 28, still holds a vast amount of Facebook stock but his decision to sell off so much will leave investors wondering about his confidence in the company.
The drop is based around the realization that Facebook might not be growing as quickly as initially thought. And the company’s second-quarter growth will likely fall short of expectations as fewer new users join the social networking giant.
Shareholders filed a lawsuit on Wednesday, alleging that Mark Zuckerberg, Facebook and the banks that backed the Initial Public Offering, Morgan Stanley and Goldman Sachs, knew this information, but weren’t forthcoming with it.
On Tuesday, Reuters revealed that the banks’ analysts downgraded their estimates about the future earnings of the company while they were rolling out the IPO.
Business Insider called the move “unprecedented”.
Furthermore, the website reported that the banks revealed to privileged major investors that the share price was likely to tank, but left smaller stock buyers in the dark about this information.
The Securities and Exchange commission is investigating these allegations and the state of Massachusetts has filed a subpoena demanding Morgan Stanley release information about the IPO.
British scientists have discovered that Ichthyostega, one of the first creatures to step on land, could not have walked on four legs as 3D computer models show.
Textbook pictures of the 360-million-year-old animal moving like a salamander are incorrect, say scientists.
Instead, it would have hauled itself from the water using its front limbs as crutches, research in Nature suggests.
The move from living in water to life on land – a pivotal moment in evolution – must have been a gradual one.
Ichthyostega is something of an icon in the fossil world. Living during the Upper Devonian period, it was dubbed a “fishapod”, with its mixture of fish-like and amphibious features.
British scientists have discovered that Ichthyostega, one of the first creatures to step on land, could not have walked on four legs as 3D computer models show
Although it probably spent much of its time under water, at times it was thought to have crawled halfway up onto land on limb-like flippers.
Exactly how it moved on land has been a matter of much debate, however.
Now, a team from The Royal Veterinary College, London and the University of Cambridge, has spent three years reconstructing the first 3D computer model of Ichthyostega from fossils.
It enabled them to study how ancient vertebrates made the “monumental transition” from swimming to walking.
Study author Dr. Stephanie Pierce, of The Royal Veterinary College, said the 3D skeleton allowed them to calculate the range of movement in the joints of its limbs for the first time.
The research suggests the animal shuffled on land using hind limb movements similar to that seen in seals rather than moving its limbs in the familiar walking pattern seen today.
Dr. Stephanie Pierce said: “We’re almost bringing the animal back to life by doing this.
“What we’ve discovered is that some early tetrapods definitely did not have the ability to walk on land. We at this stage are not actually sure which animals – or group of animals – were the first to do this.”
Co-author Prof. Jenny Clack from the University of Cambridge added: “Our reconstruction demonstrates that the old idea, often seen in popular books and museum displays, of Ichthyostega looking and walking like a large salamander, with four sturdy legs, is incorrect.”
The research, reported in a paper in Nature, was funded by the Natural Environment Research Council in UK.
Hewlett-Packard, the world’s largest maker of personal computers, is planning to cut 27,000 jobs by end of 2014.
Hewlett-Packard said the cuts – about 8% of its workforce – will reduce costs by up to $3.5 billion a year.
The company said in a statement that the money would be reinvested.
The move was part of a “productivity initiative designed to simplify business processes” and comes as rival products such as the iPad tablet computer eat into HP’s sales.
As part of the changes, the head of HP’s Autonomy division, Mike Lynch, is being replaced by Bill Veghte, HP’s chief strategy officer. Mike Lynch will leave after what HP called a “transition period”.
Hewlett-Packard, the world's largest maker of personal computers, is planning to cut 27,000 jobs by end of 2014
Mike Lynch founded software company Autonomy as a small start-up and turned into one of the UK’s largest technology companies.
It was bought by HP last year for more than $10 billion.
HP employs about 350,000 people worldwide and about 20,000 in the UK. A spokesman said it was too early to say exactly where the job cuts would hit, but no part of the business would escape some losses.
“We have not yet announced specific plans with regards to specific locations. We do expect the workforce reduction to impact just about every business and region,” the spokesman said.
News of the job losses overshadowed the release on Wednesday of HP’s latest quarterly results. The company’s profits and revenues were both better than analysts had estimated.
California-based HP reported a 31% fall in profits in the second quarter to $1.6 billion. Revenue in the period fell 3% on a year ago to $30.7 billion.
Meg Whitman, HP’s chief executive, said: “This quarter we exceeded our previously provided outlook and are executing against our strategy, but we still have a lot of work to do.”
The former chief executive of eBay joined HP in September, vowing to turn around the company after a series of problems including a failed tablet computer and an announcement that it was considering an exit from the PC business.
Her predecessor, Leo Apotheker, was ousted after just 11 months on the job.
HP’s shares, which fell as much as 5% on Wednesday and closed 3% down, were up 6.6% in after-hours trading on Wall Street.
European Council President Herman Van Rompuy has announced that EU leaders want Greece to remain in the eurozone but to “respect its commitments”.
Herman Van Rompuy, speaking at an informal EU summit, said continuing “vital reforms” were essential for Greece to overcome its economic problems.
The eurozone crisis has overshadowed the talks, amid fears that Greece may have to exit the single currency.
The eurozone is said to be preparing for such a scenario.
“We want Greece to remain in the euro area while respecting its commitments,” Herman Van Rompuy told a news conference in Brussels.
“We are fully aware of the significant efforts already made by the Greek citizens.
“The eurozone has shown considerable solidarity having already disbursed, together with the IMF (International Monetary Fund) nearly 150 billion Euros in support of Greece since 2010.”
European Council President Herman Van Rompuy has announced that EU leaders want Greece to remain in the eurozone but to "respect its commitments"
He said the EU would take action to return Greece to economic growth and job creation.
But Herman Van Rompuy said “continuing vital reforms” were “the best guarantee for a more prosperous future in the euro area”.
Referring to Greece’s forthcoming elections in June he said: “We expect that after the elections the new Greek government will make that choice.”
On Wednesday, European stock markets fell about 2% amid anxiety that Greece might have to exit the euro.
herman Van Rompuy said talks had been “focused and frank”.
He said there was agreement on the need for economic growth as well as measures to restore financial stability, which he described as “two sides of the same coin”.
UK Prime Minister David Cameron emphasized the agreements that EU leaders had reached on Wednesday.
“It was a good meeting in that there was complete agreement that dealing with deficits and getting growth are not alternatives, they go together. You need to do one in order to get the other,” David Cameron said.
Greece’s caretaker Prime Minister Panagiotis Pikrammenos said he had “had the support from almost every country member”.
EU leaders began the summit with Germany resisting pressure to launch eurobonds as a way to ease the eurozone crisis.
German Chancellor Angela Merkel said the bonds, pooling eurozone debt, would violate EU treaties and would “not contribute to kick-starting growth”.
France’s President Francois Hollande said that he wanted discussion of eurobonds and Irish PM Enda Kenny said the idea would be on the table.
Earlier, Angela Merkel said talks would not result in decisions but would influence formal summit talks in late June.
The leaders would look at ways to deepen the EU internal market, boost mobility in Europe’s labor market and better target European Investment Bank funding for projects. Such measures could help stimulate growth, she said.
The summit has been the first opportunity for President Francois Hollande to shift the emphasis from austerity to growth – a key message he gave to French voters, who elected him on 6 May.
The French Socialist leader’s victory is seen as a challenge to the prevailing austerity drive in the EU, which is favored by Germany.
German researchers have found that people who take calcium supplements could be increasing their risk of having a heart attack.
Calcium is often taken by older people to strengthen bones and prevent fractures.
But the study, published in the journal Heart, said the supplements “should be taken with caution”.
Experts say promoting a balanced diet including calcium would be a better strategy.
German researchers have found that people who take calcium supplements could be increasing their risk of having a heart attack
The researchers at the German Cancer Research Centre, in Heidelberg, followed 23,980 people for more than a decade.
They compared the number of heart attacks in people who were taking calcium supplements with those who did not.
There were 851 heart attacks among the 15,959 people who did not take any supplements at all. However, people taking calcium supplements were 86% more likely to have had a heart attack during the study.
The researchers said that heart attacks “might be substantially increased by taking calcium supplements” and that they “should be taken with caution”.
Ian Reid and Mark Bolland, researchers at the University of Auckland in New Zealand, said: “The evidence is also becoming steadily stronger that it is not safe, nor is it particularly effective.
“Therefore, the administration of this micro nutrient should not be encouraged; rather people should be advised to obtain their calcium intake from an appropriately balanced diet.
“We should return to seeing calcium as an important component of a balanced diet and not as a low cost panacea to the universal problem of postmenopausal bone loss.”
A US research suggests that babies who are delivered through Caesarean section are twice as likely to become obese than those born traditionally.
Researchers from Boston Children’s Hospital in Massachusetts found a doubling in the odds of obesity by the time the child was three years old.
The team said birth by C-section might affect bacteria in the gut, which in turn affects the way food is digested.
The study looked at 1,255 pairs of mothers and children from 1999 to 2002.
The mothers joined the study – published in the Archives of Disease in Childhood – before 22 weeks of pregnancy.
A US research suggests that babies who are delivered through Caesarean section are twice as likely to become obese than those born traditionally
Their babies were measured and weighed at birth and this was repeated at the age of three.
About one in four of the deliveries were C-section births and the remainder were vaginal deliveries.
The team found a link between body mass, skin thickness and how a child was born.
They also found that mothers who delivered by C-section tended to weigh more than those delivering traditionally – something which is known to influence obesity.
But the researchers said another possible explanation was the difference in the composition of gut bacteria acquired at birth between the two delivery methods.
They suggested expectant mothers who choose a C-section should be made aware of the obesity risk to their babies.
Egyptians are voting for the second day in the country’s first free presidential elections – 15 months after Hosni Mubarak was ousted.
Queues are being reported at some polling stations.
The election pits Islamists against secularists, and revolutionaries against Mubarak-era ministers. In all, 13 candidates are running.
The military council which assumed presidential power in February 2011 has promised a fair vote and civilian rule.
On Wednesday, there were large queues in many places, and voting passed off calmly for the most part.
However, protesters in Cairo threw shoes and stones at a convoy of candidate Ahmed Shafiq, who was Hosni Mubarak’s last prime minister.
There were also reports that a group of female voters has been denied access to a polling station in the capital because they were wearing a full face veil.
The US hailed the election, with State Department spokeswoman Victoria Nuland describing it as a “very important milestone” in Egypt’s transition to democracy.
Fifty million people are eligible to vote, and preliminary results are expected over the weekend.
Egyptians are voting for the second day in the country's first free presidential elections
The frontrunners are:
• Ahmed Shafiq, a former commander of the air force and briefly prime minister during February 2011 protests
• Amr Moussa, who has served as foreign minister and head of the Arab League
• Mohammed Mursi, who heads Muslim Brotherhood’s Freedom and Justice Party
• Abdul Moneim Aboul Fotouh, an independent Islamist candidate
Until a new constitution is approved it is unclear what powers the president will have, prompting fears of friction with a military which seems determined to retain its powerful position.
Voting across the country resumed at 08:00 local time. The authorities have declared Thursday a holiday, partly to allow public sector employees time to cast their ballots.
Some Egyptians may have been waiting for a second day of voting to avoid crowds.
On Wednesday, voting was extended by an hour to 21:00 to cater for queues at a number of polling stations.
NGOs and rights groups monitoring the election reported some complaints.
Egypt’s National Council for Human Rights (NCHR) said they received 50 complaints on electoral violations ranging from delay in opening voting booths, to campaigning for candidates outside polling stations during voting.
There was a heavy police and military presence outside the 13,000 polling sub-stations, and the atmosphere was mostly calm, with people waiting patiently for their turn to vote.
Mohammed Mursi was originally the Muslim Brotherhood’s reserve candidate, but he was thrust into the limelight after its first choice, Khairat al-Shater, was disqualified by the Higher Presidential Electoral Commission (HPEC) over an unresolved conviction.
He told reporters: “Today the world is witnessing the birth of a new Egypt. I am proud and cherish my membership of this people. I assure them that tomorrow will be better than today and better than yesterday.”
A run-off vote is scheduled for 16 and 17 June if there is no candidate manages to get more that 50% of the votes.
The Supreme Council of the Armed Forces (SCAF), worried about potential post-election unrest, has sought to reassure Egyptians that it will be the voters themselves who decide who will be the next president.
The 15 months since Hosni Mubarak was forced from power have been turbulent, with continued violent protests and a deteriorating economy.
Foreign direct investment has reversed from $6.4 billion flowing into the country in 2010 to $500 million leaving it last year.
Tourism, a major revenue generator for Egypt, has also dropped by a third.
The new president will have to reform the police to deal with the rash of crime that followed the uprising.
As many as a third of voters were reported to be undecided about which candidate to choose.
The Arab Spring began last year in Tunisia, inspiring pro-democracy activists across the Arab world.
Hosni Mubarak, who was in power for three decades, resigned on 11 February 2011 after 18 days of protests in Cairo and other cities.
He is on trial for his alleged role in the deaths of protesters. A verdict is expected in June.
Istanbul, Madrid and Tokyo will compete to host the 2020 Olympics and Paralympics after Qatar’s Doha and Azerbaijan’s Baku were cut from the list on Wednesday.
The shortlist was announced at the International Olympic Committee’s executive meeting in Quebec City.
Doha and Baku were rejected for a second time in a row after failing to make the final list for the 2016 Games.
The winning host city will be named on 7 September 2013 in Buenos Aires.
The 15-member executive board, headed by IOC president Jacques Rogge, chose the finalists after examining a technical evaluation report compiled by a panel of Olympic experts.
Istanbul, Madrid and Tokyo will compete to host the 2020 Olympics and Paralympics after Qatar's Doha and Azerbaijan's Baku were cut from the list
Japan’s Tokyo hosted the Olympics in 1964, while neither Istanbul in Turkey nor Spain’s Madrid has held the Games. Madrid is bidding for a third consecutive time, Tokyo a second time in a row and Istanbul a fifth time overall.
Doha, which was proposing to hold the 2020 Olympics in October rather than the usual July/August schedule to avoid the Gulf Arab state’s searing summer heat, is already hosting the 2022 World Cup football tournament.
“This is a great disappointment for the Doha team,” said Noora Al Mannai, chief executive of Doha 2020.
“With so many sports venues already in place and budgeted for, we felt that we offered the IOC great certainty and a low cost Games plan as well as an exciting legacy vision, especially around developing women’s sport in the Middle East.
“However for Doha, it will always be a question of when not if.”
Rome pulled out of the running in February because of the country’s efforts to head off a debt crisis.
London will host the 2012 Summer Games from 27 July – 12 August, while the Brazilian city of Rio de Janeiro will stage the 2016 Olympics.
South Africa’s ruling party is going to court to have the controversial painting of President Jacob Zuma removed from public view.
The actual painting that was on show at the Goodman Gallery in Johannesburg was vandalized by protesters on Tuesday.
The African National Congress said it was “rude, crude and disrespectful” and wanted all images of the painting online and elsewhere taken down.
Its challenge is expected to be heard by judges shortly.
The South Gauteng High Court is due to deal with the case against the gallery and the City Press website.
The Spear, a $14,000 acrylic painting by Brett Murray, an artist known for his political and provocative work, has already been sold.
The case is seen as a choice between freedom of expression and the right to dignity, both of which are protected in South Africa’s constitution.
South Africa’s ruling party is going to court to have the controversial painting of President Jacob Zuma removed from public view
The ANC is supporting President Jacob Zuma’s bid to have the painting removed from public view, whether in real or virtual form.
It called on people backing the president to go to the court and show their support.
Party spokesman Jackson Mthembu told the Sapa news agency: “A lot of people are coming to defend the image of the ANC and Msholozi [Zuma].
“Millions and millions are offended, and those millions are not necessarily black people only. They find it insulting.”
On Tuesday, two men went into the gallery and defaced the painting, daubing a red cross on it and smearing it with black paint.
Barend la Grange and Louis Mabokela appeared in court briefly on Wednesday, along with George Moyo who is accused of trying to spray-paint the word “respect” on a gallery wall.
In an affidavit served on the City Press newspaper, Jacob Zuma said he was shocked by the work saying: “The portrait depicts me in a manner that suggests I am a philanderer, a womanizer and one with no respect. It is an undignified depiction of my personality and seeks to create doubt about my personality in the eyes of fellow citizens, family and children.”
President Jacob Zuma, who has four wives, has sued local media companies 11 times for defamation. Some cases have been settled, others dropped, but most are outstanding.
The best-known case is a 2008 suit against one of the country’s most high-profile artists, Zapiro, after he depicted Jacob Zuma about to rape a female figure representing justice – this is due to be heard in October.
Jacob Zuma was cleared of raping a family friend in 2006.
Mark Zuckerberg, Facebook founder and CEO, and leading investors in the company cashed out millions of shares before the price dropped off, according to company filings.
It was also revealed that a company executive issued a warning days before the Initial Public Offering (IPO) that Facebook’s revenues are lower than expected, information that would have likely dropped the opening price of the stock.
The new reports are already raising questions about whether top investors profited from the IPO at the expense of smaller buyers.
On Wednesday shareholders filed a lawsuit against Facebook and the banks behind the company’s stock, Morgan Stanley and Goldman Sachs.
Additionally, both the Securities and Exchange Commission and the Financial Industry Regulatory Authority have begun looking into the matter.
The US Senate Banking Committee has also launched an inquiry and the state of Massachusetts has subpoenaed Morgan Stanley, demanding answers.
Facebook stock rose 3.3% in trading on Wednesday, rising to $32 a share.
However, a new analysis said the stock could fall to as low as $9.59.
That’s a far cry from the $37.58 that Mark Zuckerberg fetched for 30.2 million shares he unloaded on Friday. The founder of the social networking website made $1.13 billion on the sale.
By the end of trading on Tuesday however the price had dropped to $31 meaning Mark Zuckerberg saved himself a cool $174 million by getting out early.
Mark Zuckerberg, 28, still holds a vast amount of Facebook stock but his decision to sell off so much will leave investors wondering about his confidence in the company.
The drop is based around the realization that Facebook might not be growing as quickly as initially thought. And the company’s second-quarter growth will likely fall short of expectations as fewer new users join the social networking giant.
Shareholders filed a lawsuit on Wednesday, alleging that Mark Zuckerberg, Facebook and the banks that backed the Initial Public Offering, Morgan Stanley and Goldman Sachs, knew this information, but weren’t forthcoming with it.
On Tuesday, Reuters revealed that the banks’ analysts downgraded their estimates about the future earnings of the company while they were rolling out the IPO.
Mark Zuckerberg and Facebook leading investors cashed out millions of shares before the price dropped off
Business Insider called the move “unprecedented”.
Furthermore, the website reported that the banks revealed to privileged major investors that the share price was likely to tank, but left smaller stock buyers in the dark about this information.
The Securities and Exchange commission is investigating these allegations and the state of Massachusetts has filed a subpoena demanding Morgan Stanley release information about the IPO.
Mark Zuckerberg’s plans to sell were revealed in documents filed in advance of the IPO on Friday, but the problems that have happened since cast them in a new light.
Venture capitalist Peter Thiel also announced his plans early too but his return was beyond anything he could have hoped for.
He wrote Mark Zuckerberg a cheque for $500,000 in 2004 but has offloaded 16.8 million shares for the tidy profit of $633 million.
Among the others to cash out was Mark Pincus, the chief executive of online gaming company Zynga.
Eight years ago he gave Facebook a cheque for $40,000 but now has sold $38 million worth of stock.
Venture capitalists Accel Partners, which handed over $12.7 million back in 2005, sold $1.9 billion of stock but retained $5.8 billion.
Whilst the big players were making a fortune however, small investors have seen their attempts to get in on the Facebook bubble fall flat.
As of close of trading on Tuesday shares were a staggering 18 per cent below what they had been at the opening on Friday.
At one point they had slumped 31% from the $45 peak hit shortly after they started trading.
But according to analysts StarMine this could not be the end of it and the slide could carry on until stocks are just $9.59 each.
It has examined estimates from Wall Street experts and concluded that Facebook is currently vastly overpriced, though its forecasts do tend to be gloomier than others.
Eddy Elfenbein, editor at finance website Crossing Wall Street, said: “Facebook right now is going for far more than what it’s worth, it’s like buying $1 for $1.98, it just doesn’t make sense at this price.
“Just from basic modelling the stock should be around $17 to $20, and that is with a lot of variables.
“I would call that an ideal price. I would be interested in buying and I think that is a good deal for investors.”
Among those who did not cash out on Friday when Facebook shares were trading at $38 each was the company’s former president Sean Parker.
His stock is still worth over $2 billion but the price slump meant his fortune decreased by a staggering $300 million.
In a sign of how feeling is changing against Facebook, some commentators have begun comparing its activities to the most reckless behavior of Wall Street banks.
They have also coined the word “Zucked”, which means to get shafted on the sale of Facebook shares.
In a withering article in Time magazine Sam Gustin wrote: “Facebook’s highly-vaunted IPO – which was supposed to be a shining moment for the social network, as well as its lead banker Morgan Stanley and the NASDAQ exchange – has morphed into a debacle that’s reinforced some of the worst stereotypes about Wall Street: that corporate executives and their bankers engineer IPOs to maximize profits at the public’s expense; that Wall Street’s own systems have become too complex for its personnel to handle; and that the entire game is a hype-fueled casino, rigged for the house with a sucker played by the average investor.”
These major sell-offs comes as new allegations are emerging the over-hyped Facebook stock sale may have been rigged against small, every-day buyers.
Two separates lawsuits have been filed against the company and the banks that organized the IPO, Morgan Stanley and Goldman Sachs, alleging the executives knew second-quarter revenue would not meet expectations as Facebook’s growth slows.
Business Insider says this information was shared with the banks by a Facebook insider. As Mark Zuckerberg went on his pre-IPO roadshow, touting his company, the banks downgraded their revenue projections for Facebook.
This information could have reduced the value of Facebook’s initial stock offering. In turn, this could have decreased the amount of money Mark Zuckerberg and his early investors made when they dumped tens of millions of Facebook shares on Friday as trading opened.
However, the banks failed to widely disclose the downgrade, the lawsuits say.
Business Insider says they told only large, institutional investors so they would know to stay away from Facebook stock on the first day of trading.
Facebook denies the allegations in the lawsuit and said it will “vigorously defense itself”.
Morgan Stanley says it followed the same procedure it would for any IPO.
Facebook’s big winners cashed in early before shares price tumbled
Here is a list of the early investors in Facebook who made a bundle by cashing in portions of their stock Friday before share prices tumbled. Value is estimated at $38 a share. Also included is how much money each saved by getting out Friday, before shares sunk to $31.
Mark Zuckerberg
Shares sold: 30.2 million
Value: $1.13 billion
Saved: $174 million
Accel Partners, venture capital investor
Year invested in Facebook: 2005 for $12.7 million
Shares sold: 49 million
Value: $1.86 billion
Saved: $341 million
Peter Thiel, PayPal co-founder
Year invested in Facebook: 2004 for $500,000
Shares sold: 16.8 million
Value: $640 million
Saved: $119 million
DST Global Ltd, investment firm based in London and founded by Russian oligarch
Year invested in Facebook: 2009 and late 2010 for $200 million
Shares sold: 45.7 million
Value: $1.74 billion
Saved: $323 million
Goldman Sachs, investment bank
Year invested in Facebook: 2011 for $450 million
Shares sold: 28.7 million
Value: $1.09 billion
Saved: $200 million
Elevation Partners, private equity firm with Bono as spokesman
Sales of dry shampoo have rocketed in the past 12 months and this year are set to reach £17 million ($27 million) in UK.
Experts believe that the “big hair” look seen on celebrities such as Cheryl Cole and stars of The Only Way is Essex is responsible for the growing trend of using dry shampoo.
According to new research by Mintel almost one in four women (23%) now rely on the quick-fix to achieve a bouffant bounce.
A spokesperson from the market analyst firm Mintel said: “In addition to cleansing hair, dry shampoo may also be used as a styling product as it creates volume, texture and hold, which allows hair to be moulded more easily into shape.
“The dry shampoo category has been reaping the rewards of delivering on the lifestyle factor of time pressure.”
A new research by Mintel shows that almost one in four women (23 percent) now rely on dry shampoo to achieve a bouffant bounce
In 2011 year-on-year sales of dry shampoo grew 140% – outpacing normal shampoo market.
Research showed it is most popular among young women, with nearly 40% of adults aged 16 to 24 using it, compared to 10% of the over-55s.
While it is often used to give that just-washed look, it can also be used to style hair as it creates volume, texture and hold, one reason for its success among younger women.
While dry shampoo still only accounts for 4% o shampoo sales, it is now regularly used by about one in five women.
Mintel said the Batiste range of dry shampoos, which pioneered this area of the market, now boasts 16 variants catering for all hair types.
The spokesperson added: “The market has been boosted by its popularity among young consumers on holiday, at festivals and during nights out clubbing.”
Please add 011 in front of the number if you’re calling from the US. It might also work by adding a plus (+) sign, instead of 011.
Regular prices
Depending on the chosen period and the length of stay prices range from $90.00 per night for a two bedroom apartment and from $120.00 per night for a four bedroom apartment.
You can find prices for different holidays on their website as you can see in the picture below:
Prices for Winter 2012 for Crystal Lagoons San Alfonso del Mar
For a 7 days/6 nights vacation between July 16th 2012 and July 22nd 2012 you can expect to pay from $496.50 for a one bedroom to $819.00 for a four bedroom apartment.
For the same period, but a longer vacation 14 days/13 nights the prices range from $954.50 for a one bedroom to $1,585.00 for a four bedroom apartment.
Last minute prices for the Laguna Vista Crystal Lagoon resort range from $183.00 for a two bedroom apartment to $217.00 for a three bedroom duplex apartment. The prices are for 4 days/3 nights between June 29th 2012 to July 2nd 2012.
Last minute prices for the San Alfonso Del Mar Crystal Lagoon resort range from $241.50 for a one bedroom apartment to $399.00 for a four bedroom apartment. The prices are for 4 days/3 nights between June 29th 2012 to July 2nd 2012.
What do San Alfonso Del Mar apartments look like?
Here are some pictures of a two bedroom apartment:
A Spectacular Lagoon
The most emblematic building work at San Alfonso holds the current Guinness record as the world’s largest crystalline water pool, with an extension of more than one kilometer in length, eight hectares and 250 million liters of water. Hard to imagine? We are talking about nothing less than the equivalent to 6,000 familiar 8-meters-long pools.
Apart from its large size, the lagoon has another spectacular feature: its waters have the transparency and intense turquoise color of tropical seas. This has been made possible thanks to an advanced technology* developed by the companyCrystal Lagoons, which is able to collect ocean water and keep it in perfect condition. But this is not all that it is there: during summer, the lagoon further maintains a pleasant temperature that borders 26ºC, nine degrees more than the nearby sea temperature. The success and exclusivity of this technology has enabled Crystal Lagoons to export its know-how to major international real-estate projects.
In this way, at San Alfonso an unbelievable goal is achieved: feeling the enjoyment of the Caribbean Sea right at the Chilean central coast.
Private White-Sand Beaches
The private beaches of each building have their own docks and truly recreate a tropical environment. Their white sands and numerous palm trees constitute a paradisiacal space for exclusive use of the resort inhabitants.
Owners thus enjoy a top-level holiday, even better in cloudy or colder days, because San Alfonso has a roofed beach – unique in South America – with temperate water, heated sand, bubble beds, cascades, water-jet massage… everything you need for relax and fun.
An Incredible Panoramic View
San Alfonso’s buildings are designed in such a way that every apartment has large balconies that face the sea.
From there, the spectacle is really impressive. Algarrobo’s Large Beach, extending for more than two kilometers, the bay full of multiply colored sailboats and the single-breaking-wave blue sea, ideal for fishing enthusiasts, constitute a must-see landscape with a perspective that extends from the lagoon to the sea with no element or building that breaks its continuity and harmony.
The Most Complete Infrastructure
San Alfonso has created a private world with activities for all family members to spend days full of enjoyment without ever leaving the resort.
For sport lovers, there are sport schools imparting training classes on sailing, kayak, scuba diving, swimming, ocean navigation, tennis and paragliding, and they also will find at their disposal artificially-lit five-a-side soccer courts, volleyball courts and tennis courts, a real statutory soccer field and a gym with large windows that enjoy a stimulating overview of the lagoon.
Children have play grounds and entertainment activities organized by child monitors, whereas teenagers have an exclusive space destined for them – the Teen-Pub -, and also SubTerra discotheque, where often music recitals and live shows are featured.
The Beach Club with spa, a tempered beach under a crystal pyramid, open-air Jacuzzis, sauna, beauty parlor and gym; the exhibition and cultural activities room; the open-air amphitheater; the Spa; the supermarket and the North Bay pub-restaurant with its own dock and a large terrace along the lagoon’s coastline – where often amusing parties and shows are held – are also part of San Alfonso’s facilities.
To all that, the South Bay development has to be added, where the SubAqua Café stands out for its inner aquarium, the largest in Chile, which holds more that 60 Chilean species that can be appreciated in full magnitude through a 25-meters-long glass surface. A giant 100-meters-long water chute is also located in this zone. This area is complete, the South Bay restaurant pub has a large outdoor terrace, a gym equipped with latest technology machines, heated pool and Jacuzzi with ocean view.
An Entire World of Activities
San Alfonso offers a variety of amusements for all ages and interests, especially during holiday seasons.
Kids can join the numerous activities organized by monitors and those who love sports can participate into different championships, spinning classes, aqua fitness, yoga and fun dancing, or simply enter one of the available schools to learn or improve their performance on different sport disciplines.
There are also activities to be enjoyed by all family members, like massive bike rides, amusing bingos, theatre plays and interesting art exhibitions.
Nights are also full of life at San Alfonso. The SubAqua Café, the North Bay Pub and the Beach Club offer karaoke sessions, music recitals and live shows and dancing dinners, while thematic parties are held at SubTerra Dicotheque to suit different ages: discokids, under-18 and over-18.
Apartments With Broad Balconies
The characteristic pyramid design of the buildings, provide each apartment with a view over the sea and a privileged orientation. The 2-, 3-, 4- and 5-bedroom apartments with large balconies incorporate building solutions and avant-garde elements that deliver superior quality and incomparable comfort that are not to be found in any other alternative in the second home market. This is best illustrated by the duplex penthouses that have huge balconies of more than 100 sqm and open-air Jacuzzis.
The buildings are administered under a modern hotel concept, in such a way as to avoid any type of concern to the owners. Along these lines, an optional maid service, an integral decoration service, a renting central for those who wish to rent their property with no personal involvement, and a permanent post-sale service are available, among many other attentions.
Only one step from Santiago
San Alfonso is located at only 90 kilometers apart from Santiago in Algarrobo’s northern sector, the closer beach spot to the eastern sector of the capital city.
Arriving to this “private world” is faster and safer than ever, since the access routes have been substantially enhanced. One of the alternatives from Santiago is taking Highway 68 that runs between Santiago and Valparaiso – with double lane in all its course – and continuing to the highway that communicate Casablanca and Algarrobo. Then, it is possible to reach San Alfonso directly by the Aguas Marinas branch, without passing by Algarrobo’s downtown, thereby avoiding traffic jams and delays, especially during summer. It is worth to mention that Costanera Norte and Vespucio Norte franchised expressways in Santiago allow anybody to reach Highway 68 non-stop in a matter of minutes.
Another alternative is taking Autopista del Sol and then continuing by the highway that joins all the seaside towns between Algarrobo and Santo Domingo. This highway runs parallel to the coastal route and makes possible to go from Algarrobo to San Antonio’s harbor in just 20 minutes.
For more details you can visit the following websites:
Sarah Burge, a mother-of-three dubbed the “Human Barbie” because of her obsession with plastic surgery, has been slammed by chat show host Anderson Cooper after she revealed she is giving her teenage daughter Botox injections.
Anderson Cooper was forced to cut a TV interview with Sarah Burge shortly after she justified giving her teenage daughter Botox injections.
“I would prefer to oversee my daughter’s Botox than have her going underground finding a voodoo witchdoctor or getting it off the internet and administrating it herself,” Sarah Burge said defiantly.
But appalled by her behavior, Anderson Cooper shook his head in disbelief stating: “I try and to be really polite to all my guests.
“I just think you’re dreadful and I honestly don’t want to talk to you anymore, so I’m just going to stop.”
Sarah Burge, 51, a self-confessed plastic surgery addict recently relocated from UK to the US to launch her eight-year-old Poppy as a child beauty pageant star, believing she could give the stars of the controversial show Toddlers & Tiaras a run for their money.
However, her insistence on teaching her young daughters to pole dance, giving them vouchers to spend on plastic surgery and throwing them Botox parties is proving unpopular on both sides of the Atlantic.
Following the show Anderson Cooper added: “I regret having here on in the first place.
“I think encouraging her little daughter to pole dance and giving her plastic surgery vouchers and then telling the media about it…
“I wish her the best, I certainly don’t want to be rude to anybody.”
“Human Barbie” Sarah Burge has been slammed by Anderson Cooper after she revealed she is giving her teenage daughter Botox injections
Sarah Burge has spent more than $800,000 on her own surgical enhancements and she has been in the spotlight numerous times – for all the wrong reasons.
The National Enquirer has published cross-dressing photos of John Travolta after he has been accused of sexually assaulting male masseurs.
John Travolta, 58, appears in full drag – and the pictures, published in today’s National Enquirer, are allegedly not for a film role.
In the snaps, John Travolta is wearing a white dress, brown belt, fur stole, earrings and a necklace.
A bra is even visible beneath the knit frock.
The actor also wears a face full of makeup, including thick black eyeliner and pearly pink lipstick as well as a blonde wig pulled back into a ponytail.
The photos were obtained by The National Enquirer from a party in Los Angeles that John Travolta attended in 1997, just six years after marrying Kelly Preston.
In another bitter twist of fate, the magazine claims that his wife of over twenty years has left him in the wake of his cross-dressing scandal.
The National Enquirer has published cross-dressing photos of John Travolta after he has been accused of sexually assaulting male masseurs
A friend of Kelly Preston says: “Kelly told me their marriage is over and made it clear that she’s no longer living in the family home.
“She’s put up with John’s double life for decades while his behavior remained in the shadows.
“But all this coming out in public has humiliated her. Kelly is absolutely destroyed.”
No doubt his children, Ella, 12, and Benjamin, 18 months, will be affected by this recent scandal.
John Travolta is certainly no stranger to dressing up in drag.
He wore women’s clothing on the big screen as Edna Turnblad in the 2007 silver screen adaptation of Broadway musical Hairspray.
Though his tongue-in-cheek role had many laughing, this current photo scandal is certainly no laughing matter in the wake of recent reports that he sexually assaulted male masseurs.
The New York Daily News reported today that one of the two accusers was offered $125,000 by Team Travolta to keep his mouth shut.
Though John Travolta’s lawyer, Marty Singer, calls the claims “completely false”, John Truesdale is firmly standing by his story.
The former US Army medic reportedly turned down the offer and hired celebrity crisis lawyer Gloria Allred.
However, the 40-year-old black belt withdrew his $2 million federal lawsuit last week, as did the other accuser, who has not been identified and is referred to simply as “John Doe No. 1”.
John Truesdale’s innocence was called into question on Tuesday when his name was called into question in an unfavorable way.
RadarOnline reported that he was fired from a North Carolina massage job eight years ago for being “sexually inappropriate” with clients and co-workers.
It was he who reported claims of misconduct on May 8 when he said that John Travolta touched him inappropriately at the Beverly Hills Hotel on January 16.
For his part, flight records and photos have placed John Travolta 3,000 miles away from the alleged incident in California.
Crystal Lagoons technology can be acquired through a franchise for each project, which includes the license to use the patented technology and the know-how necessary for the correct implementation of the project. Crystal Lagoons charges a royalty for this franchise, which is equivalent to a small percentage of the sales from the project, therefore collecting only a small portion of the tremendous value that this concept and technology adds to any project.
How much are the maintenance costs for the lagoon? What do the Crystal Lagoons include?
The great advantage of this concept and technology is that it can be implemented at very low maintenance costs. The maintenance costs are approximately US$ 4,000 per hectare (US$ 1,600 per acre) per month including energy, labor and additives.
How much are the construction costs for a Crystal Lagoon?
One of the great values of Crystal Lagoons‘ concept and technology is that it can be implemented at very low construction costs: Construction costs are approximately US$ 400,000 per hectare (US$ 160,000 per acre) for a standard 5 hectare lagoon. This figure does not include the cost of earth movement and related work.
What is the energy consumption of a Crystal Lagoon?
The Crystal Lagoons‘ Technology consumes just 2% of the energy needed for conventional filtration systems, making this technology low-cost and sustainable. The lagoons use 100 times less chemical products than conventional swimming pool systems. This makes Crystal Lagoons‘ concept and technology ecological and safe. Crystal Lagoons technology works equally well with salt, fresh and brackish water. Today, we have lagoons in operation with all types of water.
Rainwater does not have any negative impact on the lagoons. However, consideration should be given to the location of the lagoon and its surrounding buildings to prevent rainwater from draining into the lagoon. These issues are common to all projects and Crystal Lagoons‘ team has extensive experience with them.
What are the effects of organic compounds (leaves, cut grass, etc.), and also dirt and atmospheric dust blown by the wind?
Architectural, construction and landscaping features can be used to prevent organic compounds (leaves, cut grass, etc.), dirt and atmospheric dust from entering the lagoon, either due to their proximity to the lagoon or because they are blown by the wind. However, this is not due to a technical requirement, but rather to avoid the need for additional manpower to remove these elements from the lagoon.
Crystal Lagoons company recommends constructing lagoons with a surface area of at least 3 hectares (7 acres) to allow for sailing and water sports in a colossal, unique and impressive body of water, thereby adding incalculable value to the project. Furthermore, the construction and maintenance costs of these lagoons are so low that achieving giant, crystalline bodies of water is economically viable. Although smaller lagoons are possible based on the specifications of each project.
How deep are the lagoons made by Crystal Lagoons?
The lagoons can be constructed to any depth. However, we recommend that some sectors of the lagoon have a minimum of 2.4 m (8 ft). Within this depth range the intense blue turquoise color can be achieved; this also avoids the tendency for people to walk in the lagoon, which might interfere with water sports.
How is the Crystal Lagoon’s water quality controlled?
The lagoon’s hydraulic, biochemical and mechanical systems are monitored, controlled and operated remotely by Crystal Lagoons from our control centers. This ensures that water quality is maintained within our established parameters, guaranteeing high, standardized quality no matter where in the world the lagoon is located.
How much water does the lagoon consume?
Crystal Lagoons concept and technology means our lagoons consume very little water. They work on a closed circuit in which it is only necessary to compensate for evaporation. One hectare of lagoon consumes 50% less water than a conventional park, while a 3 hectare (7 acre) lagoon consumes up to 10 times less water than a golf course.
Paris Hilton had some hot competition in the form of her successor Kim Kardashian as they were both on board for P Diddy’s yacht party in Cannes last night.
It is not clear whether their paths crossed – but the two ladies were seen waltzing around in their respective glamorous ensembles.
Kim Kardashian poured her ample curves into a stunning lace outfit which consisted of a crop top and matching maxi skirt.
The two-piece outfit featured a beige slip and black lace overlay which included sequinned detailing.
The top had a sexy cut-out back and fell high enough for Kim Kardashian to flash her toned stomach.
Kim Kardashian poured her ample curves into a stunning lace outfit which consisted of a crop top and matching maxi skirt
Kim Kardashian swept her brunette tresses into an elegant ponytail and accessorized her outfit with black and silver chandelier earrings and a cute black bracelet.
Earlier, she attended the famous VIP Room club at the JW Marriott hotel to kick off her first evening at the Film Festival.
The skirt trailed along the floor as Kim walked the red carpet, giving a wave to her admirers at the same time.
Paris Hilton, meanwhile, opted for a demure floor-length deep pink dress, wearing her blonde locks on the Diddy boat party.
Paris Hilton, of course, is credited with teaching Kim Kardashian the ropes of the reality TV world.
They used to be firm friends back in the day – although their relationship has cooled over recent years.
Other celebs at the party tonight included Paris Hilton’s sister Nicky, Michelle Rodriguez, Adrien Brody and Tara Reid, who was spotted leaving at 4:00 a.m. looking a little worse for wear.
Earlier in the day Kim Kardashian was spotted in an all-black outfit but the French sunshine wasn’t enough to put a smile on her face.
However the reason behind her miserable mood may have been that she was forced to drag herself away from boyfriend Kanye West today to fly to Nice.
She left her man behind in London where he will play another show at the O2 London tonight with Jay-Z.
However the couple were later reunited and spotted walking arm in arm around the Cannes harbor at around 4:00 a.m. this morning after Kanye West jetted in.
Crystal Lagoons, the Chilean company that creates immense crystalline lagoons as Guinness world record-holding swimming pool San Alfonso del Mar, and real estate company Sama Jordan inaugurated Dead Sea Lagoon, the first resort that brings idyllic beach paradise to Jordan.
Dead Sea Lagoon is located at 31 km of Amman and has an investment of $160 million. It includes a 3-hectare lagoon surrounded by white-sand private beaches, palm trees and 1,000 home units, and is the first of a real estate revolution that Crystal Lagoons is developing in Jordan, including more than 40 projects in the entire Middle East region.
Dead Sea Lagoon will give an unprecedented turn to local tourism that until now was only focused on the therapeutic benefits of the Dead Sea, which is 10 times more salty than any other ocean and doesn’t have the necessary conditions for developing beach life.
Crystal Lagoons, the Chilean company that creates immense crystalline lagoons as Guinness world record-holding swimming pool San Alfonso del Mar, and real estate company Sama Jordan inaugurated Dead Sea Lagoon near Aman
Crystal Lagoons brings Idyllic beach paradise to the region thanks to its unique concept that allows to develop unlimited sized crystal clear water lagoons with cutting edge technology patented in 160 countries that provides the ideal conditions for bathing and practicing water sports, by ensuring the quality and clarity of large bodies of water at very low construction and maintenance costs.
Crystal Lagoons is developing several projects in the Middle East region as $5,500 million real estate project City of Stars Lagoons developed together with Citystars Holding and Pyramids Plaza in Sharm El Sheikh, Egypt. This project includes 30,000 home units, 6 five star hotels, museum, golf courses, shopping center and 10 giant crystalline lagoons that bring together 100 hectares of crystalline water in the middle of the desert. This project will exceed San Alfonso del Mar, in Chile, which has 8 ha of surface area and 1 km in length.
The company, which has offices in USA, Egypt, Dubai and Chile is developing other projects in the region in places as Egypt, Pakistan, UAE and Oman. Currently, Crystal Lagoons is present in 180 urban, recreational and public developments in 45 countries which an associated investment of $100 billion.
Facebook’s flotation has run into more controversy amid reports of concerns about the way advisers disclosed information to investors.
As Facebook shares fell another 9% on Tuesday, regulators said they may review the disclosure process to see if some investors got favorable access.
The SEC and regulatory body FINRA both said they would look into the matter.
Morgan Stanley, lead underwriter on the flotation, said it was “in compliance with all applicable regulations”.
Reuters and the Wall Street Journal reported that Facebook’s advisers may have revised their financial forecasts for the social networking company, but that only selected investors were told.
Facebook's flotation has run into more controversy amid reports of concerns about the way advisers disclosed information to investors
Mary Schapiro, chairman of the Securities and Exchange Commission, said “there are issues that we need to look at”.
Richard Ketchum, chief executive of the Financial Industry Regulatory Authority (FINRA), said there were “matters of regulatory concern”.
But in a statement, Morgan Stanley spokesman, Pen Pendleton, said the bank had “followed the same procedures for the Facebook offering that it follows for all initial public offerings”.
Also on Tuesday, a private investor issued a writ against the NASDAQ stock exchange over technical problems on Friday that disrupted Facebook’s first trading day.
Phillip Goldberg, a Maryland resident, is seeking class-action status on behalf of all investors who say they lost money because of the technical problems.
Facebook’s market debut was delayed by about half an hour, and orders to buy or sell shares were further disrupted. Philip Goldberg has filed a writ in the southern district court of New York.
NASDAQ chief executive Robert Greifeld has said that “clearly we had mistakes in the Facebook listing”.
It has all taken the shine off one of the most anticipated flotation in history.
Facebook shares, launched at $38 each on Friday, fell 11% on Monday and a further 9% on Tuesday. The shares are now worth $31 each.
It is a remarkable turnaround from recent weeks, when the social network’s share sale was over-subscribed and the eight-year-old firm was valued at $104 billion.
Much of the blame for the fall in share price is being pinned on lead underwriters Morgan Stanley and the NASDAQ exchange itself, with many commentators saying that the sale was over-priced.
“There must have been some sober second thoughts about this,” said Brian Wieser, an analyst at Pivotal Research.
Brian Wieser thinks a fair price for such a young company without a proven business model is about $30.
But some analysts say the fall is of little consequence in the early days.
“Whether [Facebook] is worth $95 billion or $100 billion, it’s immaterial,” Jeremy Liew of investment company Lightspeed Venture Partners told Reuters.
The social networking site has transformed the way in which hundreds of millions of people around the world communicate. It is also transforming the way companies advertise to existing and potential customers.
But Facebook’s 900 million users helped the company generate just $1 billion in profit last year, and there are concerns about its ability to grow profits in the future.
The Chilean firm Crystal Lagoons aims to revolutionize the real estate industry with patented technology that allows developers to create huge crystalline lagoons anywhere and maintain them at a fraction of the cost of traditional pools.
Crystal clear water, white sand beaches, palm trees and sun. It sounds like Club Med in the Caribbean, but in the summer months it is also a fitting description of the world’s largest swimming pool in the beach resort town of Algarrobo, just a couple of hours from Santiago.
The US$ 3 million pool, which covers an eight hectare area equivalent to 6,000 backyard pools, was built using Chilean firm Crystal Lagoons’ technology as part of the San Alfonso del Mar condominium project.
Including San Alfonso, Crystal Lagoons has four lagoons in Chile and one in Panama. The patented technology allows real estate developers to build huge crystalline lagoons anywhere while increasing the land’s commercial value.
“We are changing the real estate paradigm which says that location is the key to any project,” said Eduardo Klein, Business Manager at Crystal Lagoons.
Even the desert can be made into an oasis. Crystal Lagoons has licensed its technology to the Egyptian real estate developer Citystars Properties, which is building a huge US$ 5 billion housing project in Sharm El Sheikh.
“This project will have 10 lagoons covering 100 hectares which will create beach life in the middle of the desert,” said Eduardo Klein.
In addition to this project, Crystal Lagoons has projects in construction in Peru, Jordan and Dubai where the Santiago-based firm has opened a second office.
In total, the company has 150 projects in different stages of development in 35 countries with plans to open offices in the United States and Asia in the near term.
Keeping an eight-hectare pool clean is not easy. The Chilean businessman and biochemist Fernando Fischmann founded Crystal Lagoons in 2007 after spending a decade looking in vain for an affordable technology that would maintain his beachfront pool at the San Alfonso del Mar resort.
“The shoreline there is rocky and the water is cold so he needed something different to offer an attractive beach lifestyle for residents,” said Eduardo Klein.
Through a process of trial and error, Fernando Fischmann and his team discovered a technological process that would maintain large bodies of crystalline fresh or salt water at a relatively low cost.
It works by using special sensors in the pool that monitor pH levels and inject chemicals automatically to maintain the required balance.
“Normal pools use large quantities of chlorine to keep them clean, we don’t do that,” said Eduardo Klein.
The US$ 3 million pool, which covers an eight hectare area equivalent to 6,000 backyard pools, was built using Chilean firm Crystal Lagoons’ technology as part of the San Alfonso del Mar condominium project
Crystal Lagoons also uses energy-efficient filtration systems that use 2% of the energy consumed by traditional pools. Its low energy and chemical consumption helped the firm obtain the Chile Verde environmental certification, which is supported by UNESCO.
“Our technology is a combination of everything from the quality of the water we use to how it is treated and filtered,” said Eduardo Klein.
The pools also use only enough water to compensate for evaporation.
“Our pools consume half the water that would be consumed by a park of similar size,” said Eduardo Klein.
Building a Crystal Lagoons pool is not cheap – around US$ 350,000 per hectare – but building a pool over three hectares is impossible using traditional technology.
For real estate developers, a big pool can be a major asset in tempting customers to buy high-priced houses or condos. Since the pools are safe and clean, they are attractive to families with children who can swim, sail or kayak with limited supervision.
“It allows a beach lifestyle in a very safe environment,” said Eduardo Klein.
Crystal Lagoons participates in every aspect of the project from design to engineering and construction. Once the project is completed, the company trains personnel and monitors, via Internet, the water quality.
Crystal Lagoons receives nothing upfront, but is paid a percentage, usually 1-2%, of the developer’s sales.
“We only charge our fee when the developer starts to sell, so it’s comfortable for them,” said Eduardo Klein.
But it’s also good for Crystal Lagoons, which has US$ 600 million in royalties wrapped up in its signed contracts.
“Our project adds value to a new development, and we receive a percentage of that value,” said Eduardo Klein.
The company’s existing projects are in resorts like San Alfonso del Mar and Las Brisas de Santo Domingo, but it is building a 3.5 hectare pool in the community of Padre Hurtado just outside Santiago.
“This is revolutionary, for the first time people living in Santiago will have a beach outside their front door,” said Eduardo Klein.
That’s good news for the project’s developer, Inmobiliaria Aconcagua. In its first weekend, all 50 houses on offer sold and the same thing happened the following weekend.
In the U.S., Crystal Lagoons is in talks with developers in South Carolina and Las Vegas, and it plans to open an office there by early 2011, but no projects are confirmed yet.
The slowdown in the housing market is behind the lack of progress, says Eduardo Klein, “but the U.S. is a very interesting market for us, we just patented our technology there which is great news.”
It took Crystal Lagoons five years to obtain its U.S. patent.
“Intellectual property is respected in the U.S. and it makes it easier to get patents in other countries,” said Eduardo Klein.
Including the United States, Crystal Lagoons is now patenting its technology in 150 countries and has hired U.S. intellectual property firm Marksmen to protect its technology from potential competitors.
Crystal Lagoons pushed for Chile’s accession to the WPO’s Patent Cooperation Treaty (PCT) in 2009, which has made the process of applying for patents in different countries much simpler and cheaper for Chilean firms, notes Eduardo Klein.
“We have paved the way so other companies can follow,” he said.
Crystal Lagoons is also the leading candidate to become the first Chilean company to list on the NASDAQ, which is one of the new government’s goals for the next four years.
“We are evaluating this, it’s an important decision and there’s no going back,” said Eduardo Klein.
Either way, Crystal Lagoons will have plenty of work; the Boston Consulting Group estimates that 14,000 crystalline lagoons could be built in the world in the next 20 years.
A new research suggests the presence of street lights substantially changes the ecology of ground-dwelling invertebrates and bugs.
Scientists trapped nearly 1,200 of the animals in areas under and between street lights in Helston in Cornwall, UK.
They report in Biology Letters that invertebrate predators and scavengers were more common near the lights, even during the day.
That suggests street lights influence ecology more than previously thought.
Much work in recent years has gone into addressing the effects that street lights can have on local, transient populations of bugs – particularly those that can fly and have significant ranges of exploration.
But the effects of street lights on the vast communities of invertebrates on the ground remained unaddressed.
A new research suggests the presence of street lights substantially changes the ecology of ground-dwelling invertebrates and bugs
Thomas Davies of the University of Exeter and his colleagues set 28 traps in Helston, some just under street lights, and some in dark regions midway between them, over a three-night period.
The team found in general that a higher number of animals were trapped near the lights.
But the relative proportions of scavengers such as beetles and predators such as harvestmen and wolf spiders were significantly different, with a higher proportion being found near the lights – even during the day.
“This study now seems to be indicating that those transient, nocturnal effects on the behavior of the animals are actually being translated into the habitat preferences of the animals in the daytime as well,” Dr. Thomas Davies said.
“It’s amazing how long we’ve been using street lighting and artificial lighting, and how little research has been done on the impact of those lights on the environment,” he said.
Dr. Thomas Davies stressed that the study was small and its findings preliminary, but that it invited future study into much wider-ranging environmental effects.
“Invertebrates in the UK at least are undergoing a bit of a biodiversity crisis and have been for some time now, and they’re very important for a number of ecosystem services such as pollination and the breakdown of organic matter,” he explained.
“So the impact of street lights on invertebrate communities could be very, very important, could be problematic, but we simply don’t know at the moment – we need to do the research.”
Fiat and Mazda have decided to form an alliance to develop two-seater sports cars.
The alliance will work on a car for Fiat’s Alfa Romeo brand and a roadster with a different engine and styling for Mazda.
The cars will be built at Mazda’s plant in Hiroshima. Both will be based on a new version of Mazda’s MX 5 – the car that Mazda is best known for.
Mazda is looking to cut costs after losing $1.3 billion in its most recent financial year.
“Establishing technology and product development alliances is one of Mazda’s corporate objectives, and this announcement with Fiat is an important first step in that direction,” said Mazda President Takashi Yamanouchi in a statement.
Fiat and Mazda have decided to form an alliance to develop two-seater sports cars
Fiat chief executive Sergio Marchionne said working with Mazda would deliver “an exciting and stylish roadster in the Alfa Romeo tradition”.
Production of the Alfa Romeo model is planned to start in 2015.
Mazda had close ties with Ford and the US company owned nearly a third of Mazda in 1996.
But Ford has been winding-down that partnership over the last few years and now owns just 2% of the Japanese company.
