5 YouTube Videos to Help Winterize Your Home






1. Caulk Talk



Westlake Ace Hardware gives a few basic steps, including caulking windows before the cold hits.






Click here to view this gallery.


[More from Mashable: Origami Self-Closing Stroller Is a Slick Gift for Techie Moms]


If you’re lucky, you’ll only feel a slight draft through a window crack. Maybe a gust of wind under the door. Either way, that Father Winter is one mean S.O.B.


Thankfully, there are easy steps you can take to make sure your home is ready for the winter season. Check out the gallery above to watch five YouTube videos with the most practical and cheapest tips for winterizing your house.


[More from Mashable: 12 Holiday Gift Ideas for Your Girlfriend]


Of course, those of you in warmer climates can ignore this advice. But for the folks gearing up for a snowy, wind-chilled couple of months ahead, we’ve got your back. And so does YouTube.


Any big tips we missed? Let us know below.


Image courtesy of Flickr, Jason Persse


This story originally published on Mashable here.


Tech News Headlines – Yahoo! News


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School shooting postpones Cruise premiere in Pa.


NEW YORK (AP) — The U.S. premiere of the Tom Cruise action movie "Jack Reacher" is being postponed following the deadly Connecticut school shooting.


Paramount Pictures says "out of honor and respect for the families of the victims" the premiere won't take place Saturday in Pittsburgh, where "Jack Reacher" was filmed.


The premiere would've been Cruise's first U.S. media appearance since his split from Katie Holmes over the summer. It was to be more contained with select outlets covering and a location away from Hollywood or New York.


A proclamation ceremony for Cruise had been planned with Pennsylvania Gov. Tom Corbett and Pittsburgh Mayor Luke Ravenstahl.


No new date for the premiere has been set. The movie opens Dec. 21.


Friday's massacre at a Newtown, Conn., elementary school killed 20 children and several adults.


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The Neediest Cases: Disabled Young Man and His Protective Mother Deal With Life’s Challenges





Though he would prefer to put his socks on without his mother’s help, Zaquan West, 25, does not have a choice.







Michelle V. Agins/The New York Times

Joann West is a constant caretaker for her son, Zaquan. Though Ms. West works as a receptionist, the family fell behind on rent.




The Neediest CasesFor the past 100 years, The New York Times Neediest Cases Fund has provided direct assistance to children, families and the elderly in New York. To celebrate the 101st campaign, an article will appear daily through Jan. 25. Each profile will illustrate the difference that even a modest amount of money can make in easing the struggles of the poor.


Last year donors contributed $7,003,854, which was distributed to those in need through seven New York charities.








2012-13 Campaign


Previously recorded:

$3,104,694



Recorded Thursday:

$137,451



*Total:

$3,242,145



Last year to date:

$2,862,836




*Includes $596,609 contributed to the Hurricane Sandy relief efforts.


The Youngest Donors


If your child or family is using creative techniques to raise money for this year’s campaign, we want to hear from you. Drop us a line on Facebook or talk to us on Twitter.





A genetic disorder has encumbered Mr. West all his life, but he has needed assistance with this particular task since only last year. In November 2011, he had surgery to remove a cancerous tumor on his left thigh that was as big as a football, but he was left less flexible.


“He doesn’t do well with disability, with the label,” his mother, Joann West, 55, said. “He doesn’t tell people that he has a disability. If they can’t see it, they just can’t see it.”


When her son was 13 months old, Ms. West learned he had neurofibromatosis, a disorder that causes tumors to grow on the nerves and, in some cases, to infringe on vital organs, or as was the case last year, to become malignant. It also creates large bumps on the skin known as nodules.


At ages 5 and 8, Zaquan had operations to remove neurofibromatosis clusters that were eating away at his left hip bone. The disease has left his left leg a few inches shorter than his right. After each operation, he had to relearn how to walk.


Because of his physical disability, he was placed in a special-education class at school and given the same homework every night, his mother said.


“I advocated for him,” Ms. West said. “I kept fighting, because he was no dummy. He was physically impaired, not mentally. I went out of my way to try to give him a better life. The system would have failed him more than it did if I hadn’t stepped in.” Her efforts led to his being moved from a special-education classroom to a regular one in second grade.


Ms. West, a single mother, acknowledges that her protective instincts made her a very controlling parent, and she did not allow Zaquan out of the house much, which limited his friendships.


“I was afraid for him,” she said. “The streets, they don’t care about your disability.”


When Mr. West entered high school, it was the first time he had truly been away from his mother’s watchful eyes. He began skipping class, often going to the park or wandering their Bedford-Stuyvesant, Brooklyn, neighborhood with truant friends. He eventually dropped out of school.


“It was just me being out on my own and making my own choices,” Mr. West recalled.


Though she did not agree with her son’s decisions, Ms. West said that his need to explore was in some ways a result of her actions. “At a point, I stepped back,” she said, “to allow him to do certain things on his own and do what he wanted to do.”


In 2007, a couple of years after he dropped out, Mr. West joined the Door, an organization focused on empowering young people to reach their potential. There, he obtained his high school equivalency diploma.


Today, Mr. West is job hunting so that he can help pay his and his mother’s expenses.


But paying the monthly bills has become a struggle, Ms. West said, in part because of a recent change in her budget. In August, after an increase in income, they stopped receiving $324 a month in food stamps. The additional income did not cover all their expenses, however, and Ms. West eventually fell behind in the rent on their apartment.


Ms. West, who has been employed in various administrative jobs, currently works as a receptionist for Howie the Harp Advocacy Center, an agency that provides employment help to people with psychiatric disabilities. Her annual salary is about $25,000 before taxes. Her son receives $646 in Social Security disability benefits. After the family’s food stamps were cut off, Mr. West applied individually, and he now receives $200 in food stamps each month.


With the addition of Mr. West’s disability benefits and food stamps, their net monthly income is $2,213. Their contribution for the Section 8-subsidized apartment Ms. West has lived in for the past 30 years is $969.


Knowing she was in need of help, Ms. West’s boss told her about the Community Service Society, one of the organizations supported by The New York Times Neediest Cases Fund. And the society drew $1,598 from the fund to cover her debt.


Ms. West remains a constant caretaker for her independent-minded son, who, she says, has come to accept her help grudgingly. She says that even if they are not on speaking terms after a disagreement, she is there to lend him a hand.


Both are continuing to deal with the inevitable challenges: Mr. West is awaiting word from doctors on whether a new growth in his lungs is cancerous. But one of his greatest assets, given all that he has overcome, is that he is comfortable in his own skin.


“I’m just always going to be me,” he said, “so why deal with somebody else?”


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Halle Berry joining the ranks of secretive home sellers

Hot Property columnist Lauren Beale talks with Bret Parsons of the John Aaroe Group.









Actress Halle Berry is trying to sell her Hollywood Hills West house. The home's motor court was the site of a Thanksgiving Day altercation between her former boyfriend, model Gabriel Aubry, and her fiance, actor Olivier Martinez, that landed both men in the hospital.


The property is being shown and marketed off the Multiple Listing Service in what is known as a pocket listing for $15 million. The five-bedroom house has 5,900 square feet of living space and sits on more than half an acre with a 1,400-square-foot guesthouse, a swimming pool and spa.


Berry bought the home in 2005 from former "Malcolm in the Middle" star Frankie Muniz for $5.995 million. She and Aubry had been involved in a custody battle.








Berry, 46, has starred in the "X-Men" movies and "Die Another Day" (2002). She won an Oscar for best actress for "Monster's Ball" (2001). The former model and Martinez starred this year in the film "Dark Tide." Berry also starred with Tom Hanks this year in "Cloud Atlas."


Billy Rose of the Agency in Beverly Hills has the pocket listing, according to area real estate agents. He should be familiar with the property. He is also a onetime owner of the house, property records show.


Malibu pad is celebrity magnet


A beachfront house in Malibu that was rented at different times this summer to Usher and Sean Combs is for sale at $16.75 million. The house was listed at $100,000 a month but the amount each singer paid was not disclosed.


The Cape Cod-inspired two story, built in 1994 and sitting on more than half an acre, has 80 feet of beach frontage, a front lawn and gardens. Features include skylights, an office, a bar, a wine room, four fireplaces, a sauna, two master suites, four additional bedrooms and a total of six bathrooms in 5,653 square feet of living space.


The property last changed hands in 1985 for $1.3 million, public records show.


Wendy Carroll of Westside Estate Agency in Malibu is the listing agent.


Another notch in his beach belt


Oracle Corp. head Larry Ellison is buying yet another house along Malibu's Carbon Beach. This will be his 10th residential purchase along the coveted stretch of sand called Billionaires' Beach for its wealthy homeowners.


The seller is film and TV producer Jerry Bruckheimer.


The beachfront house, which was not listed for sale, has 70 feet of ocean frontage, three bedrooms, three bathrooms and 2,239 square feet of living space, public records show. The sale price is not known at this time. The assessed value of the property is more than $3.65 million.


Ellison already owns the houses on either side of Bruckheimer's home. Nearby neighbors include entertainment mogul David Geffen, former Dodgers Chief Executive Jamie McCourt and business magnate and former junk bond king Michael Milken.


In addition to the Carbon Beach houses, Ellison owns commercial property along the sand that includes the Nobu Malibu restaurant as well as other Malibu properties.


Ellison, 68, is ranked the third-wealthiest person in the U.S. by Forbes, with a net worth of $41 billion. Known as a real estate trophy hunter, he made an estimated $500-million deal this year to buy 98% of the Hawaiian island of Lanai.


Bruckheimer, 67, is executive producer of the Emmy Award-winning reality competition show "The Amazing Race" (2001-present) and multiple "CSI" series. His film work includes the "Pirates of the Caribbean" movies.


The one-third-acre property previously sold in 1987 for $2.4 million.


No real estate agents are involved in the sale.





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L.A. County transit officials OK more funds for Blue Line safety









Los Angeles County transit officials Thursday budgeted $6.78 million more for improvements on the Blue Line — one of the busiest light-rail lines in the nation, with 26 million riders annually and a history of accidents and fatalities.


There have been eight deaths along the Blue Line so far this year, at least four of which were suicides, according to Los Angeles County Metropolitan Transportation Authority officials.


The most recent fatality occurred Thursday about 12:45 a.m., when officials said a woman apparently tried to swerve her Hyundai around lowered gate arms at a crossing in Compton and was struck by a Blue Line train.





Last summer, county Supervisor Zev Yaroslavsky, a member of the Metro Board of Directors, warned his colleagues that the Blue Line was on track to have more fatalities in 2012 than any other year in its history. The 22-mile-long Blue Line, the county's first light-rail line, opened in 1990 and travels from Long Beach to Los Angeles. In November, it averaged 93,201 weekday trips, the most ever for the line.


During its first dozen years, the Blue Line — which earned the dubious title of California's deadliest rail transit route in 1999 with 10 fatalities and 50 accidents — averaged 50.9 accidents a year, but over the next decade that dropped to an average of 27.9 accidents annually.


Metro has made several safety improvements that have reduced accidents, including putting photo enforcement cameras at street crossings to discourage drivers from trying to race trains across the tracks.


The line had some of its lowest accident totals between 2008 and 2011. But Yaroslavsky earlier this year said he saw the numbers rising again in 2012 and seemed frustrated that the issue was still around, saying: "This has been an ongoing open ... sore for us."


Also drawing attention to the issue were families such as the one that showed up at a board meeting wearing T-shirts with the picture of a dead teenage relative who had been struck by a Blue Line train while walking in Willowbrook.


After a Blue Line task force came up with several ideas to improve safety, the Metro board budgeted the money Thursday for more barriers, sidewalk improvements, new types of electric signs, better lighting around crossings, suicide prevention signs and audible warning devices, among other things.


Another factor fueling the safety changes were the results of a survey that showed that hundreds of Metro transit workers have concerns about their on-the-job safety. While most of the workers gave Metro high marks for safety, nearly half of the respondents still reported that they had had a close call that could have killed them or seriously injured someone.


Metro spokesman Marc Littman said that putting millions of dollars toward improvements shows that the agency is taking the issue seriously. He added that Art Leahy, Metro's chief executive officer, has also been focused on decreasing a backlog of maintenance issues on the Blue Line and across the system, including purchasing new cars.


But Yaroslavsky is not convinced that the added millions of dollars will change much on the Blue Line.


"These are things that should have been done a long time ago and whether they're going to be sufficient or not, I don't know.... We had another fatality last night," Yaroslavsky said Thursday. "It's the most dangerous rail line in our system."


"I want to see the number of fatalities and accidents along this line drop precipitously," he said, adding that although it is difficult to stop suicides, "we've got to try."


Mike Cano, transit deputy for county Supervisor and Metro Board Chairman Mike Antonovich, said that the agency lacks a strong culture of safety and that its leaders have been too focused on building projects and transit lines instead of ensuring the quality of existing operations.


"We're not doing the groundwork in terms of figuring out what happens to fares, what happens to maintenance … what happens to make sure our systems are retrofit" and safe, Cano said, adding that no one wants to look back after a major transit accident and wish that more had been done.


In an unrelated agenda item Thursday, the board awarded an advertising contract worth more than $100 million over five years to CBS Outdoor Group, which after several rounds of negotiating and voting beat out Titan Outdoor, which had bid several million dollars more. Metro analysts said they were concerned about Titan's finances.


And in a separate motion, Yaroslavsky said that next month he will ask the board to eliminate the $3 monthly maintenance fee assessed to those who use the new experimental ExpressLanes on the 110 and 10 freeways.


ari.bloomekatz@latimes.com


Times staff writer Dan Weikel contributed to this report.





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Tolkien class at Wis. university proves popular


MILWAUKEE (AP) — The vast collection of J.R.R. Tolkien manuscripts initially sold senior Joe Kirchoff on Marquette University, so when the school offered its first course devoted exclusively to the English author, Kirchoff wanted in. The only problem: It was full and he wasn't on the literature track.


Undaunted, the 22-year-old political science and history major lobbied the English department and others starting last spring and through the summer and "kind of just made myself a problem," he said. His persistence paid off.


"It's a fantastic course," said Kirchoff, a Chicago native. "It's a great way to look at something that's such a creative work of genius in such a way you really come to understand the man behind it."


He and the 31 other students can now boast of their authority about the author who influenced much of today's high fantasy writing. The course was taught for the first time this fall as part of the university's celebration of the 75th anniversary of "The Hobbit" being published. And class wrapped up just before the film, "The Hobbit: An Unexpected Journey," was released Friday.


The class, which filled up fast with mostly seniors who had first dibs, looked at Tolkien as a whole, not just the popular "Lord of the Rings" and "The Hobbit." Students took their final exam this week, and the course was so well received, Marquette is considering more in the future.


"It's the best class I've had in 27 years here ... for student preparation, interest and enthusiasm," said English professor Tim Machan. "And I can throw out any topic and they will have read the material and they want to talk about the material."


Marquette is one of the main repositories of Tolkien's drafts, drawings and other writings — more than 11,000 pages. It has the manuscripts for "The Lord of the Rings" and "The Hobbit," as well as his lesser-known "Farmer Giles of Ham" and his children's book "Mr. Bliss." Marquette was the first institution to ask Tolkien for the manuscripts in 1956 and paid him about $5,000. He died in 1973.


Other significant collections are at the Bodleian Library at Oxford University in England and Wheaton College in Illinois.


Though Tolkien classes aren't unusual nationwide, Marquette students had the added bonus of being able to visit Tolkien's revisions, notes, detailed calendars, maps and watercolors on site at the school's archive. And they got a lesson from the school's archivist Bill Fliss.


"One of the things we wanted to impress upon the students was the fact that Tolkien was a fanatical reviser," said Fliss said. "He never really did anything once and was finished with it."


Chrissy Wabiszewski, a senior English major, described Tolkien's manuscripts as art.


"When you get down and look at just his script and his artwork in general, it all kind of flows together in this really beautiful, like, cumulative form," Wabiszewski said. "It's cool. It is just really cool to have it here."


The class also looked at Tolkien's poetry, academic articles and translations of medieval poems; talked about the importance of his writers' group, the Inklings; and explored what it meant to be a writer at that time.


"We've ... tried to think about continuities that ran through everything he did," Machan said. His students were also required to go to three lectures that were part of Marquette's commemoration.


"The Hobbit," a tale of homebody Bilbo Baggins' journey, is set in Tolkien's fictional realm of Middle-earth and takes place 60 years before "The Lord of the Rings." The movie released Friday is the first of the trilogy, with "The Hobbit: There and Back Again" set for release on Dec. 13, 2013, and a third film to come out in the summer of 2014.


Most of the students were just finishing elementary school when the first "Lord of the Rings" film was released 11 years ago.


Kirchoff said he started reading "The Hobbit" and the "Lord of the Rings" when he was in fourth grade, before the movies came out. He said the movies have introduced others to Tolkien's ideas, making his love for Tolkien's fantasy worlds more socially acceptable.


"The movies were fantastic enough and engaging enough to coexist in my mind with the literature I really do love," he said.


Wabiszewski said it's clear her classmates weren't just taking the class as a filler.


"I definitely expected the enthusiasm from everybody but just the knowledge that everybody brought into the class, it's cool," she said. "We really have a smart group of people in that class who have a lot to offer."


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Recipes for Health: Red Cabbage, Carrot and Broccoli Stem Latkes — Recipes for Health


Andrew Scrivani for The New York Times







I love finding things to do with broccoli stems. I find that allowing the cabbage mixture to sit for 10 to 15 minutes before forming the latkes allows the cabbage to soften a bit, and the latkes hold together better.




5 cups shredded red cabbage


1/2 pound carrots, shredded (about 1 1/2 cups)


1 1/2 cups shredded peeled broccoli stems


2 tablespoons sesame seeds


2 teaspoons caraway seeds


1 teaspoon baking powder


Salt to taste


3 tablespoons oat bran


3 tablespoons all-purpose flour


3 tablespoons cornmeal


2 tablespoons buckwheat flour


3 eggs, beaten


About 1/4 cup canola, grape seed or rice bran oil


1. Heat the oven to 300 degrees. Line a sheet pan with parchment and place a rack over another sheet pan.


2. In a large bowl mix together the shredded cabbage, carrots, broccoli stems, baking powder, sesame seeds, caraway seeds, salt, oat bran, flour, cornmeal and buckwheat flour. Taste and adjust salt. Add the eggs and stir together. Let the mixture sit for 10 to 15 minutes.


3. Begin heating a large heavy skillet over medium heat. Take a 1/4 cup measuring cup and fill with 3 tablespoons of the mixture. Reverse onto the parchment-lined baking sheet. Repeat with the remaining latke mix. You should have enough to make about 30 latkes.


4. Add the oil to the pan and heat for 3 minutes or until hot. When it is hot (hold your hand a few inches above – you should feel the heat), slide a spatula under one portion of the latke mixture and transfer it to the pan. Press down with the spatula to flatten. Repeat with more mounds. In my 10-inch pan I can cook four at a time without crowding; my 12-inch pan will accommodate four or five. Cook on one side until golden brown, about four to five minutes. Slide the spatula underneath and flip the latkes over. Cook on the other side until golden brown, another two to three minutes. Transfer to the rack set over a baking sheet and place in the oven to keep warm.


5. Serve hot topped with low-fat sour cream, Greek yogurt or crème fraîche.


Yield: about 30 latkes, serving 6


Advance preparation: You can prep the ingredients and combine everything except the eggs and salt several hour ahead. Refrigerate in a large bowl. Do not add salt until you are ready to cook, or the mixture will become too watery, as salt draws the water out of the vegetables.


Nutritional information per serving: 226 calories; 14 grams fat; 2 grams saturated fat; 4 grams polyunsaturated fat; 8 grams monounsaturated fat; 93 milligrams cholesterol; 20 grams carbohydrates; 5 grams dietary fiber; 151 milligrams sodium (does not include salt to taste); 7 grams protein


Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”


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Retailers scramble to woo shoppers in final days before Christmas









The holiday crunch is on at the mall, and Toys R Us is opening all its stores for 88 straight hours until Christmas Eve. And, for the first time, Macy's is staying open at most stores for 48 hours nonstop the final weekend before Christmas.


In the rush to woo shoppers, merchants this year are upping the ante. Banana Republic is giving away six Fiat cars. Kohl's is picking up the tab for a shopper in each of its stores every day until Christmas Eve. And Sport Chalet will have a scuba-diving Santa at some of its stores Saturday.


Across the nation, retailers are scrambling to draw customers into stores and online in the last days leading up to Christmas, in the hope that shoppers will deliver a last-minute cash infusion at a crucial time for merchants. After a successful Black Friday weekend that netted a record $59.1 billion in sales, stores have seen an unwelcome drop-off in business.





What happens in the next two weeks may be vital not only for merchants but also for the nation's fragile economic recovery, because consumer spending of all kinds makes up about 70% of the U.S. economy.


This weekend and next hold the key to boom or bust. "This holiday, the highs have been higher and the lows lower for retailers," industry analyst Marshal Cohen said. "That means we need a good, strong finish to come out even."


The National Retail Federation is sticking to its prediction of $586.1 billion this year, up 4.1% from last year.


With an extra weekend this year between Thanksgiving and Christmas, many stores say that traffic has plummeted in the last few weeks as shoppers gave their credit cards a rest after splurging on Black Friday and Cyber Monday. Independent boutiques and national retailers alike are anxiously waiting for a surge of shoppers at the very end.


Liz Williamson and last-minute shoppers like her may dictate the outcome. With a dozen family members and friends on her holiday list, "I have to get started now or I'm going to end up running through the malls on Christmas Eve," said the Los Angeles accountant, who was hunting at the Americana at Brand shopping center. "It's get-it-done time."


Shopper Colleen Chang, 26, hasn't started shopping either. "I've started feeling a little crazy," said the Los Angeles leasing agent, who has budgeted $400. "You have to know exactly what you want because pretty soon there's just nothing left and you have to take what you can get."


"Procrastinators will be the secret weapon for either a ho-ho holiday or a ho-hum one," Cohen said.


With 11 days to go, shipping deadlines loom for online orders. Christmas parties are in full swing. Advertising blares. Last-minute sales scream for attention. Holiday music won't let you alone. Time is running out.


Retailers have plenty of shoppers to win over. Nearly a fifth of consumers have yet to start holiday shopping, while 21% plan to drop into stores again after taking a break from post-Thanksgiving splurging, the research firm NPD Group estimated Thursday.


"Every day feels like a sprint. Across the board we see a lot of traffic right now both online and in store," said Brian Hanover, a spokesman at Sears, which is rolling out another round of door-busters Friday and Saturday.


Despite the looming fiscal cliff in Washington and the prospect of higher taxes next year, retailers expect that people will open their wallets for last-minute gifts.


Kevin Jewelers in the Glendale Galleria is hoping for the traditional surge of procrastinators after a disappointing two weeks, diamond consultant Grace Figues said.


"We're still waiting for the rush," she said. "Lately it's been high-low, high-low just like a normal month. We would welcome the craziness."


At the Best Buy store in Westfield Culver City, general manager Margie Kenney said this weekend is "tremendously important" and will be "one of our busiest weekends after Black Friday."


Both bricks-and-mortar and Web merchants will probably enjoy a boost during the next two Saturdays, which typically hold the No. 3 and No. 2 spots for top shopping days of the year after Black Friday, said Bill Martin of retail technology firm ShopperTrak.


"There's still plenty of shopping left," he said. "Some people are just willing to outlast the retailer and wait for the next wave of serious discounts."


At the Americana at Brand, Stella Yu of Glendale had just begun searching for gifts for her family and close friends. But the 25-year-old graduate student, a veteran last-minute shopper, is already mentally preparing herself for the thick crowds, jammed parking lots and general mall madness as the clock ticks down to Christmas.


"I hate humans during holiday shopping," Yu sighed, "especially the ones with kids."


shan.li@latimes.com





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Fed to tie interest rate to job gains









WASHINGTON — The Federal Reserve said it will continue aggressive measures to stimulate the economy and made a major policy shift to focus more directly on boosting the job market.


Fed policymakers said they would keep interest rates at historically low levels until unemployment drops below 6.5%.


It's likely to keep the Fed's short-term interest rates at historically low levels well into 2015.





The move marked the first time that Fed policymakers have tied themselves to an explicit unemployment goal. It appeared to end the long-running debate within the central bank over how aggressively to target the nation's lagging job market.


The jobless figure was 7.7% in November, and the Fed's new forecast doesn't see that dropping below 6.5% for about three years.


The decision was made easier by the slow pace of inflation, which remains below 2% on an annual basis. Critics of the Fed's policies have argued that efforts to stimulate the economy would lead to inflation, but so far, that has not happened, and Fed Chairman Ben S. Bernanke has argued that the risk is much smaller than the dangers posed by high unemployment.


"The conditions now prevailing in the job market represent an enormous waste of human and economic potential," Bernanke said Wednesday during a news conference after the central bank's last policy meeting of the year.


Under its new policy, the Fed would let its inflation outlook rise to 2.5% before taking action to curtail it — giving the nation's employers more time to create jobs.


The move to link interest rate policies directly to the jobless rate is meant to give the public and businesses greater confidence about how long interest rates will remain exceptionally low, and that by itself could act as a kind of stimulus to the economy.


The new push got a warm welcome from both economists and Wall Street.


Economist Bernard Baumohl at the Economic Outlook Group said the previous time frame for action was "self-defeating because it provided no incentive for employers to start spending any time soon to avoid higher interest rates. It just didn't create any sense of urgency to accelerate investments or increase the rate of hiring."


The Fed has kept its federal funds rate, which influences rates for credit cards, mortgages and business and other loans, near zero since December 2008. Unemployment has been near 8% or above since early 2009.


Bernanke and his colleagues also decided Wednesday to continue the controversial large-scale bond-buying programs in the new year. Specifically, the Fed will buy $40 billion of mortgage-backed securities and $45 billion of long-term Treasury bonds a month.


The purchases are intended to drive down long-term interest rates to spur spending, investment and lending, boosting economic activity as well as hiring.


The central bank launched the purchase of mortgage-backed securities in September to give a lift especially to the housing market, which Fed policymakers said Wednesday "has shown further signs of improvement." They said they would continue to buy bonds until the job market "improved substantially."


The Fed, which has a dual mandate to maximize employment and keep inflation in check, also forecast a somewhat stronger growth for next year.


Its policy statement Wednesday noted a slowing in U.S. business investment and "significant downside risks" in the global economy, but made no mention of the so-called fiscal cliff, the automatic federal budget cuts and tax hikes scheduled to take effect beginning Jan. 1.


In a 75-minute news conference, however, Bernanke said it was clearly evident that concerns about the fiscal impasse already had hurt the economy, weakening business investments and consumer confidence.


He said that whatever the Fed did, it was not enough to offset the full effects of a U.S. economy failing to resolve fiscal issues. But he was cautiously optimistic: "I actually believe that Congress will come up with a solution, and I certainly hope they will."


For years, the Fed didn't give any indication of its future interest-rate path and only in recent years signaled what it might do by using somewhat vague language. In June 2011, the Fed said that it would keep rates exceptionally low for an "extended period." In August 2011, policymakers said no change was likely until at least mid-2013. And that date has since been extended twice, to late 2014 and then mid-2015.





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Google Maps makes its way back to the iPhone






(Reuters) – Google‘s navigation tool has returned to the iPhone, months after Apple‘s home-grown mapping service flopped, prompting user complaints, the firing of an executive and a public apology from Apple’s CEO.


The Google Maps app will be compatible with any iPhone or iPod Touch that runs iOS 5.1 or higher, the company said in a blog post. (http://link.reuters.com/jek64t)






Apple launched its own service in early September, and dropped Google Maps, when it launched the iPhone 5 and rolled out iOS 6, an upgrade to its mobile software platform.


Users complained that Apple’s new map service, based on Dutch navigation equipment and digital map maker TomTom’s data, contained errors and lacked features that made Google Maps popular.


In October, Scott Forstall, a long-time lieutenant of late Apple co-founder Steve Jobs, was asked to leave the company partly because of his refusal to take responsibility for the mishandling of the mapping software.


While Apple Maps offered soaring ‘flyover’ views of major cities, it had no public transit directions, limited traffic information, and obvious mistakes such as putting one city in the middle of the ocean.


This led to Apple chief executive Tim Cook apologizing to customers frustrated with the service and, in an unusual move for the U.S. consumer group, directed them to rival services such as Google’s Maps instead.


(Reporting by Tej Sapru and Ankur Banerjee in Bangalore; Editing by Chris Gallagher and Dan Lalor)


Gadgets News Headlines – Yahoo! News


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