Friday, May 31, 2013

Reuters: Small Business News: ECB seen aiding small-business financing: Van Rompuy

Reuters: Small Business News
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ECB seen aiding small-business financing: Van Rompuy
May 31st 2013, 14:18

The Euro sculpture is partially reflected in a puddle on a cobblestone pavement in front of the headquarters of the European Central Bank (ECB) in Frankfurt January 21, 2012.

Credit: Reuters/Kai Pfaffenbach

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Reuters: Small Business News: After pigeons, 'chicks' battle French entrepreneur rules

Reuters: Small Business News
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After pigeons, 'chicks' battle French entrepreneur rules
May 31st 2013, 12:41

French Minister for Industrial Recovery Arnaud Montebourg waves goodbye after attending a ministers' meeting at the Elysee Palace in Paris May 6, 2013. REUTERS/Gonzalo Fuentes

French Minister for Industrial Recovery Arnaud Montebourg waves goodbye after attending a ministers' meeting at the Elysee Palace in Paris May 6, 2013.

Credit: Reuters/Gonzalo Fuentes

By Catherine Bremer

PARIS | Fri May 31, 2013 8:41am EDT

PARIS (Reuters) - Seven months after a pressure group called "The Pigeons" forced the French government to scrap tax rises on entrepreneurs, a new movement called "The Chicks" is challenging plans to curb other advantages for the self-employed.

The group, "Les Poussins" in French and backed by more than 20,000 online supporters in a matter of days, is up in arms over a Socialist government proposal to reduce to two years the time that self-employed people can claim the advantageous status of "auto-entrepreneur".

The auto-entrepreneur status, used by everyone from foreign language teachers to people building up businesses, reduces red tape and allows social security charges to be paid as earnings come in, rather than upfront.

"Don't kill our projects in the egg," reads a placard held by a peeved-looking cartoon chick sporting sunglasses and a mohican-like quiff on the www.defensepoussins.fr site.

The group says curbs on the special status would destroy entrepreneurship and limit future job creation.

Some 900,000 people have joined the auto-entrepreneur system since then-President Nicolas Sarkozy launched it in 2009 and it produces revenues of 5 billion euros ($6.53 billion) annually. Since it was started, it has earned more than 5 billion euros in tax for the state, according to the Chicks.

The plan by Industry Minister Arnaud Montebourg and a junior trade minister, Sylvia Pinel, to rein it in is aimed at curbing abuse of the system. But it also risks hardening impressions that Socialist President Francois Hollande is anti-business.

The Chicks, set up on April 13 by 19-year-old video games creator Adrien Sergent, had 20,933 signatures on its online petition by Friday midday and 16,000 "likes" on Facebook.

The group wants to be invited to talk with the government, whose negotiations on the issue with the French Federation of Auto-Entrepreneurs broke down this week.

Sergent said clamping down on a system he said had helped create more than a million small businesses was irresponsible.

"Without this regime I would never have been able to create my business at 16 years old," he said. "Today I have real prospects for the future and I know that young entrepreneurs like me are the motor of tomorrow's economy."

France's economy slipped into recession again in the first quarter and jobless figures hit another new record in April following two years of uninterrupted monthly rises.

Last October's online revolt by the Pigeons - a word which in French is also slang for "suckers" - forced the government to grant exemptions to small business owners from increases in capital gains tax in the 2013 budget to as high as 60 percent.

Capital gains taxes are a discouragement to entrepreneurs who can spend years working around the clock on a minimal income to build a business they hope to one day sell for a big profit. ($1 = 0.7660 euros)

(Editing by Mark Heinrich)

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Thursday, May 30, 2013

Reuters: Small Business News: Online college classes, once aimed at advanced students, target the masses

Reuters: Small Business News
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Online college classes, once aimed at advanced students, target the masses
May 30th 2013, 07:05

By Stephanie Simon

BOSTON | Thu May 30, 2013 3:05am EDT

BOSTON (Reuters) - A leading U.S. provider of online college courses on Thursday announced plans to expand into introductory level classes such as algebra and composition, marking a shift for a fledgling industry that has until now focused on specialized material.

Coursera, a popular for-profit provider of massive online open courses - known as MOOCs - will host a series of basic general education classes to be developed in partnerships with 10 state university systems across the United States.

"If we really want to move the needle, we can't just stick with offering continuing education to lifelong learners," said Daphne Koller, the Stanford computer scientist who co-founded Coursera. "We have to help people achieve degrees that will help them get a better life."

Another top MOOC provider, Udacity, is launching a similar program this summer, teaming up with California's San Jose State University to offer five introductory courses.

Until now, MOOCs have mainly focused on specialized courses - like computational neuroscience - taught by professors at top universities. Those MOOCs attracted millions of students, but the vast majority already had completed college in more traditional settings.

At Coursera, for example, 80 percent of registrations come from students who already have at least a bachelor's degree.

The new partnerships will provide the first significant evidence to date of whether students without a college background can succeed in MOOCs, which require participants to be self-directed and highly motivated.

Students who have struggled or are new to college "are the ones who most need a teacher who looks them in the eye and figures out how to motivate them," said Greg Graham, who teaches introductory writing at the University of Central Arkansas.

Vince Kellen, a senior vice provost at the University of Kentucky, acknowledges the challenge but says it's worth trying to expand the world of MOOCs. "We think this is a reasonable way to reach some students," he said.

Kentucky is among the states joining Coursera for the new initiative. Others include New York, Colorado and Tennessee. Some states plan to grant credit to students who complete the online work while others will urge students to take the MOOCs to prepare for classes with high failure rates.

BACKLASH

The deals coincide with a rising backlash against MOOCs.

Earlier this month, the provost of American University in Washington, D.C., announced a "moratorium on MOOCs," saying a serious debate was in order on issues such as educational quality. Faculty at Duke University voted down a proposal to offer online courses for credit.

And in a biting public letter, the philosophy department at San Jose State University last month condemned MOOCs as a threat to the very existence of public universities. Signatories argued the trend would push college professors out of jobs, stifle diversity of thought and deprive students of discussions.

Similar concerns were raised this spring by faculty at Amherst College in Massachusetts. Deeming MOOCs too impersonal and industrial, the faculty rejected a proposed partnership with nonprofit online course provider EdX.

"When the rubber hits the road," MOOC promoters "don't have any idea what education means," said Adam Sitze, an assistant professor of law and social thought at Amherst.

MOOC backers disagree; they say their courses will not replace professors or dismantle universities, but will make quality education more widely available. Some are even testing ways to use MOOCs to expand the role of faculty.

Coursera and EdX, for example, are testing "blended" models that bring students together for face-to-face instruction that augments the MOOC videos.

The MOOC market "is too big, too diverse, for one-size-fits-all," said Anant Agarwal, the president of EdX. "This intense experimentation phase will continue for a while."

(Reporting by Stephanie Simon; Editing by Richard Valdmanis and Lisa Shumaker)

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Wednesday, May 29, 2013

Reuters: Small Business News: Roku says raises $60 million in latest funding round

Reuters: Small Business News
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Roku says raises $60 million in latest funding round
May 29th 2013, 18:35

Wed May 29, 2013 2:35pm EDT

(Reuters) - U.S. television start-up Roku said on Wednesday it has raised $60 million in new funding from some of the largest media companies including Hearst Corporation, News Corp and British Sky Broadcasting as well as institutional investor Fidelity.

The company said in a statement on Wednesday that the new investment will help Roku expand its streaming services.

Fidelity, which led the latest round of funding, and Hearst are both new investors. Roku said it has now raised $140 million to date.

Roku competes with Apple Inc's Apple TV and is working with U.S. cable operators such as Time Warner Cable Inc to let users stream their cable TV through the box.

The company, which was founded in 2008 to stream Netflix videos, has sold more than 5 million boxes in the United States allowing customers to watch video over the Internet on their TVs and access streaming services such as Pandora, Amazon, Hulu and HBO Go.

(Reporting by Liana B. Baker, editing by G Crosse)

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Tuesday, May 28, 2013

Reuters: Small Business News: U.S. small private foundations grow by 10 percent in 2012

Reuters: Small Business News
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U.S. small private foundations grow by 10 percent in 2012
May 29th 2013, 04:03

By Manuela Badawy

NEW YORK | Wed May 29, 2013 12:03am EDT

NEW YORK (Reuters) - Endowments of private foundations with assets of less than $50 million grew by 10 percent in 2012 as donors dramatically increased their contributions and investment performance improved, a firm that tracks the foundations reported on Wednesday.

Foundation Source, the largest U.S. service provider for small private foundations, said in a report that assets held by a sample group of foundations grew to $2.1 billion in 2012 from $1.9 billion in 2011, owing to a recovery in financial markets that allowed donors to increase their contributions.

The findings were based on transactions of 732 Foundation Source clients between January 1 and December 31, 2012. The study group increased their grants and charitable donations by 9.2 percent in 2012, from the year before. In 2012, they gave $215.7 million in the aggregate, compared with $197.5 million in 2011.

The foundations were able to replenish their coffers by adding $1.06 for every dollar they spent on grants and charitable expenses, up from 93 cents for every dollar spent in 2011.

The report is a snapshot of the activity of 98 percent of the 86,000 private foundations in the United States that have assets of less than $50 million. The 86,000 altogether hold roughly $550 billion.

"The information, on what they are spending, how much new money is coming in, and what their allocations are, is very helpful to me in creating a strategy to help foundations manage their money," said Phil Shaffer, managing director of wealth management and institutional consulting director at Graystone Consulting, a division of Morgan Stanley.

"That information has been available for the big size foundations for a long time but not for this size of foundations until now," said Shaffer, who was part of a panel enlisted by Foundation Source to review its findings.

Shaffer said that the allocations data gives him and other financial advisers a chance to educate foundations as to why they might want to have a more diversified asset portfolio.

"These results could differ appreciably from those recorded by the country's largest foundations, yet year-after-year it's the mega-foundations that influence overall perceptions about foundation performance. It's a distorting perspective," said King McGlaughon, chief executive of Foundation Source.

For the small foundations surveyed by Foundation Source, investment returns rose by 9.3 percent last year, up from a 1.5 percent loss in the previous year and a 4.3 percent loss from 2008 to 2011.

"The actual amount of grant-making increased in dollars on top of significant portfolio growth of those foundations," McGlaughon told Reuters, adding that despite a sharp drop in foundations' endowments after the 2008 financial crisis, foundations have been rebuilding their assets at a fast pace.

(Reporting by Manuela Badawy; Editing by Jennifer Ablan and Steve Orlofsky)

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Tuesday, May 14, 2013

Reuters: Small Business News: Small restaurants serving big calories, salt: studies

Reuters: Small Business News
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Small restaurants serving big calories, salt: studies
May 14th 2013, 14:44

By Andrew M. Seaman

NEW YORK | Tue May 14, 2013 10:44am EDT

NEW YORK (Reuters Health) - Despite public health progress in cutting calories, as well as salt and fat from fast foods and supermarket products, neighborhood restaurants are still packing big helpings of each into their meals, a trio of studies suggests.

Small independent eateries are not required to display nutritional information for consumers - if they did, the researchers report, patrons would routinely see single meals containing nearly a full day's worth of calories and fat plus one and half times the daily recommended intake for salt.

"It's really a disgrace. Every day the newspapers say things about the obesity epidemic… To a large extent, you can trace that to too many calories," said Susan Roberts, director of the U.S. Department of Agriculture Energy Metabolism Lab and professor of nutrition at Tufts University, in Boston.

About two thirds of Americans are considered overweight or obese, according to the U.S. National Institutes of Health. And as American waistlines continue to expand, public health policy has focused on the quality of food available in supermarkets and restaurants.

President Barack Obama's 2010 Affordable Care Act, for example, contains a requirement that restaurants with at least 20 outlets in the U.S. make their nutritional information available to customers.

But one of three new studies published in JAMA Internal Medicine on Monday points out that policy only applies to about half of the nation's restaurants. The other half is made up of smaller chains or independent restaurants exempt from the requirement.

For their analysis, Roberts and her colleagues measured the calories in 157 meals at small Mexican, American, Chinese, Italian, Japanese and Thai restaurants in and near Boston between June and August 2011.

Overall, the researchers found the average meal at those restaurants contained 1,327 calories. That's about 66 percent of the 2,000 daily calories recommended by the U.S. Food and Drug Administration.

About 8 percent of the meals exceeded 2,000 calories.

The meals from small restaurants also contained up to 18 percent more calories than comparable dishes from larger chains - suggesting the requirement to display nutritional information is keeping the large-chain restaurant meals healthier, according to the researchers.

In another of the studies published Monday, Canadian researchers led by Mary Scourboutakos from the University of Toronto found similarly high calorie counts in more than 3,500 meals from Ontario restaurants they analyzed.

What's more, Scourboutakos and her fellow researchers found that individual meals contained an average of 89 percent of the daily recommended amount of fat and 151 percent of the daily recommended amount of salt.

A third study also zeroed-in on salt as a major area of concern.

Several organizations, including the U.S. Department of Agriculture, the Department of Health and Human Services, the American Medical Association, the American Heart Association and the World Health Organization have all called for reductions in the amount of sodium people consume.

The Institute of Medicine recommends that most healthy people get 1,500 milligrams (mg) of sodium per day, with an upper limit of 2,300 mg. But the average American eats closer to 3,600 mg each day, largely in processed foods.

For their new study, Dr. Stephen Havas of the Northwestern University Feinberg School of Medicine in Chicago and his colleagues analyzed 402 processed foods and 78 fast-food products to see if their salt content had changed between 2005 and 2011.

They found a small decrease in the amount of salt in processed foods over that period but also a similarly-sized increase in the amount of salt in fast-food products. The differences in each category, however, were small enough that they could have been due to chance.

Havas said the results show that the calls for voluntary reductions in salt have been a "total failure."

"The only thing that will solve this problem is for the amount of salt in our food to be regulated," he added.

But regulating food and what goes into it has been a controversial topic, according to Dr. Mitchell Katz, from the Los Angeles County Department of Health Services in California.

Instead, he suggests in a commentary accompanying the three studies that doctors should advocate for their patients' right to know what they're eating.

"As we debate the controversial role of government in stemming the interrelated endemics of obesity, diabetes mellitus, and heart disease, we must insist on the right of our patients (as well as ourselves) to know what we are eating, whether fast food or slow, whether large chain, small chain, or individual restaurant," he wrote.

One encouraging finding from the study of Toronto restaurant meals highlighted by Scourboutakos and her colleagues is that entrees identified on the restaurant menus as "healthy" were generally at least healthier - with about 474 calories, 20 percent of the day's value of fat and 50 percent of the recommended daily intake of sodium.

Roberts told Reuters Health she'd like to see restaurants add a few healthy choice options to their menu to at least give people an alternative.

"That would mean the restaurant doesn't have to calculate the whole menu and that would give people choices," she said.

SOURCE: bit.ly/MbBLb9 JAMA Internal Medicine, online May 13, 2013.

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Reuters: Small Business News: Double Eagle condensate pipeline starts up

Reuters: Small Business News
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Double Eagle condensate pipeline starts up
May 14th 2013, 14:13

HOUSTON | Tue May 14, 2013 10:13am EDT

HOUSTON (Reuters) - Double Eagle Pipeline LLC has begun moving Eagle Ford condensate from Three Rivers, Texas, to Magellan Midstream Partners LP's (MMP.N) terminal in Corpus Christi, Magellan and 50/50 partner Kinder Morgan Energy Partners LP (KMP.N) said on Tuesday.

Double Eagle's new truck unloading and storage facility near Three Rivers also has started up, the companies said.

The startup of the condensate pipeline is part of a $150 million project that includes 140 miles of new 12-inch pipeline that connects to an existing Kinder Morgan 50-mile, 14- and 16-inch pipeline.

The initial capacity is 100,000 barrels per day but can be expanded to 150,000 bpd with more pumps, the companies said.

Nearly two weeks ago, Magellan Chief Executive Mike Mears told analysts that shipper interest in the Double Eagle pipeline had increased as the companies neared the startup.

Double Eagle expects to finish the western leg of the project from Gardendale near Cotulla, Texas, to Three Rivers in the third quarter.

Kinder Morgan became Magellan's partner in the project on May 1, when the pipeline giant closed its $5 billion acquisition of Houston-based Copano Energy.

(Reporting By Kristen Hays; Editing by John Wallace)

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