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NISTs atom-based magnetic sensor, about the size of a sugar cube, can measure human brain activity. Inside the sensor head is a container of 100 billion rubidium atoms (not seen), packaged with micro-optics (a prism and a lens are visible in the center cutout). The light from a low-power infrared laser interacts with the atoms and is transmitted through the grey fiber-optic cable to register the magnetic field strength. The black and white wires are electrical connections. Credit: Knappe/NIST

A miniature atom-based magnetic sensor developed by the National Institute of Standards and Technology (NIST) has passed an important research milestone by successfully measuring human brain activity. Experiments reported this week verify the sensors potential for biomedical applications such as studying mental processes and advancing the understanding of neurological diseases.

NEW YORK (Reuters) – The pace of factory activity in the mid-Atlantic region waned in April for the first time in five months as new orders fell to their lowest since September, a survey showed on Thursday.

March existing home sales fell 2.6 pct

Leading economic indicator near 4-year high

COMMENTS:

MICHAEL TREBING, ANALYST, FEDERAL RESERVE BANK OF PHILADELPHIA

There are positive readings on all broad indicators and improvement in hiring. The activity index is a little bit below an index for no recession. There is growth there but not what I consider robust growth. Some of the growth may be due to warm weather over the region, so some demand may be borrowed from the future.

ROBERT DYE, CHIEF ECONOMIST, COMERICA, DALLAS

Its a string of disappointing data, starting with the jobless claims data. My sense here is there is a combination of factors at play here. Weather appears to be a strong factor which allowed some stronger-than-expected hiring and economic activity. Now we are seeing a correction of that. You also have those pesky seasonally adjustments. And you also have some genuine step-down in activity.

But right now, I dont think its indicative of a soft patch in the economy. There are also a lot of concerns about Europe and China is showing slower growth. We need to see more data and (see) whether we could bounce back in May. Its still a little early to tell. We have seen significant improvement in the labor market and auto sales since mid-2011.

My expectation for the Fed next week is that they are in watchful waiting mode. They still have an active program in effect right now. Its still data dependent for the next couple of months.

TOM PORCELLI, CHIEF US ECONOMIST, RBC CAPITAL MARKETS, NEW YORK

We have had a pretty poor round of economic data here. Philly Fed is the second major manufacturing data that has slipped, which is potentially an ominous sign for manufacturing. Data thus far has not been encouraging. While manufacturing has not fallen off a cliff, it is showing some softening here.

Home sales were disappointing and it shows that housing clearly benefited from the warmer weather earlier in the year and now we have pay back. This is not encouraging.

KARL SCHAMOTTA, SENIOR MARKET STRATEGIST, WESTERN UNION BUSINESS SOLUTIONS, CALGARY

Philly Fed was very much priced into expectations, and nobody really expected it to rock the market. I think the reality is that about two weeks ago, people started downgrading their expectations for the US economy. We expected a loss in momentum. But overall, were seeing things heading in the right direction, though maybe not as fast as some had hoped. But its nothing calamitous at this point.

MARK MCCORMICK, CURRENCY STRATEGIST, BROWN BROTHERS HARRIMAN, NEW YORK

I think the overall theme in the US is that the underlying growth trajectory is moderating from what weve seen in the previous quarter. I think the Fed meeting next week is going to be a non-event. The Fed is comfortable with the pace of the recovery in its current state. I dont see them taking QE off the table because the Fed isnt going to take away a tool that they felt has been important and helped the economy, but US data is still running at a decent clip. Its very unlikely that the Fed moves forward with QE. Were kind of stuck in this inaction.

ANDREW WILKINSON, CHIEF ECONOMIC STRATEGIST AT MILLER TABAK CO IN NEW YORK

No real surprise to see a deterioration in Philly Fed, but it was surprising to see an expansion in the employment component. That doesnt fit in with the other indicators.

The housing market remains flat on its back, I remain surprised that people continue to look for signs of recovery. It just isnt something that will happen quickly.

MARKET REACTION

STOCKS: Stocks pare gains .N.

BONDS: Treasuries add to gains.

FOREX: Euro trims gains versus the dollar.

(Americas Economics and Markets Desk; +1-646 223-6300)

BEIRUT: Activity at Beiruts Rafik Hariri International Airport soared in the first quarter of 2012, said a report issued by the Civil Aviation Authority Thursday. The number of passengers in the first three month of the year increased by 21 percent year-on-year to 2,242,379, the report said.

In March 2012, the number of passengers at the airport increased 24.45 percent, compared to March 2011, totaling 432,817. It said the figure includes 223,254 inbound and 204,670 outbound passengers. The airport saw 4,893 transit passengers.

The higher number of passengers did not, however, reflect an increase in the total number of passenger flights, the report added, highlighting that the airport continued to see a sharp decline in the number of transit flights.

The total number of passenger flights reached 6,855 in March, declining by 12.79 percent year-on-year, despite inbound and outbound flights increasing by respectively 4.68 and 4.63 percent.

Online activity sees William Hill profits rise

Friday, April 20, 2012 – 11:26 AM

The rise of online betting continued to boost William Hill today after the bookmaker reported a 19% jump in first-quarter profits.

Alongside a “robust” performance from its traditional over-the-counter operations, the group said turnover from online sportsbook bets exceeded £50m (EUR61.1m) in a single week for the first time during the quarter.

Mobile device turnover reached £11m (EUR13.4m) in a single week as the launch of the first William Hill sportsbook app in the Apple store gave it access to thousands of customers who have never bet with the company before.

In the trading update covering the 13 weeks to March 27, William Hill said revenues from wagers placed over the internet and mobile phones jumped 33% year-on-year, with amounts wagered on sporting events up by 31%.

With more customers placing bets as events are in progress, William Hill said mobile devices now accounted for 19% of sportsbook turnover in the quarter.

In the high street business, William Hill said bad weather in February resulted in 8% fewer horseracing fixtures in the quarter and caused a 2% drop in the amounts wagered in over-the-counter bets.

However, further growth in machine gaming revenues and a decent run of sporting results for bookies meant retail’s profits were 8% higher in the quarter.

Chief executive Ralph Topping said he was pleased with the group’s strong start to the financial year.

He added: “Our investments in marketing and innovations continue to deliver benefits.”

With gun violence in Columbia rising to nearly record levels, the Columbia Police Department and local organizations are working to offset gang violence and get local youth on the right track.

In January and February of this year, CPD responded to the highest concentration of shots fired in Columbia since the 1990s. At a February press conference, CPD Chief Ken Burton confirmed at least seven of the 11 incidents were connected to each other and linked to gang activity. Less than a month later, CPD identified four new shots fired incidents as gang-related.

What weve encountered isnt even a matter of testifying — were not even getting that far, Burton said at the press conference. Were actually having victims that wont talk to us at the scene of the crime, which is, as you can imagine, very frustrating for us.

Lorenzo Lawson is the executive director for the Youth Empowerment Zone, a local organization that reaches out to at-risk youth. Lawson said this pattern of uncooperative witnesses and victims has ties to race and culture.

In criminal culture, its always been that you dont talk to police — you dont snitch, you dont rat, he said. I think the police have a lot to do with it with profiling and disrespect, especially toward young African-American males, and that has created a distrust toward law enforcement and the justice system.

In response to the upswing in gun violence, CPD started doing proactive patrols in high-crime areas, which led to multiple arrests in connection with the shootings. The department has now moved away from the proactive patrols, but the Street Crimes Unit is continuing to investigate the shootings while CPD reaches out to the community, CPD spokeswoman Latisha Stroer said.

Two weeks ago, we met with community leaders from (central Columbia) about how to get parents involved, Stroer said. Its got to be a community effort to try to curb the violence thats occurring.

Nationwide, drug-related conflict remains the No. 1 factor in all gang violence, according to the 2009 National Youth Gang Survey. Almost all local gangs, which tend to have between 10 and 30 members, focus on drug dealing, Stroer said.

In other areas, its more about territory, she said. Here, gangs want to monopolize the drug sales.

One major difference between gangs of the past and modern-day gangs is the use of firearms, according to the National Gang Center website.. The availability of guns is a major concern, Peters said.

Young people have been getting into skirmishes and fights for as long as young people have been on the planet, Peters said. The big reason for concern is that now these individuals are more likely to have guns.

Research shows youth gangs arise primarily in areas where making the transition to adult identities is difficult, Peters said. Gangs can provide an identity these adolescents cant find in education or the labor market.

YEZ, which was founded in 2004, initially set out to curb the labor market problem, Lawson said. He found the No. 1 complaint from local youth was the inability to find jobs, so YEZ found jobs for more than 40 local adolescents. Later on, Lawson found out more than 80 percent of them did not hold the job for a month.

We had to start focusing on more than just getting the jobs, Lawson said. We want to prepare them to get and keep the jobs and give them the life skills to succeed. We intervene in different situations, hook them up with positive peers and mentors, help them find jobs and get back into education. Things like that combat the pull of being in a gang and being involved with criminal activity.

YEZs approach to gang activity creates a meaningful place to go for people who dont have other options, Peters said.

One response weve finally realized doesnt work is to lock up every offender in this age group, Peters said. Municipalities are starting to think creatively about how else we can address this issue beyond simplistic punitive measures.

00:26 am, deputies responded to report of suspicious person in the area of Date St/Van Buren St. Gone upon arrival, circulated area.

00:27 am, deputies performed a probation search in the 500-block of North St. Arrests

6:29 am, deputies responded to report of suspicious person in the 500-block of Philippine St. Arrest

7:26 am, deputies performed a patrol check in the area of Old Traveled Way/33 Hwy, Maricopa.

7:27 am, deputies performed a patrol check in the area of Cerro Noroetse Rd/33 Hwy, Maricopa.

7:35 am, deputies performed a patrol check in the area of Cover St/33 Hwy, Maricopa.

8:15 am, deputies responded to report of burglary in the 500-block of Poso St. Arrest

8:18 am, deputy initiated activity in the 500-block of 4th Ave.

8:38 am, deputies received a 9-1-1 call in the 23000-block of Arnold Ave, Derby Acres.

11:40 am, deputies responded to request to check the welfare in the 400-block of Olive St, Maricopa. Unable to locate, circulated area.

12:04 pm, deputy initiated activity in the 400-block of Mary St.

12:25 pm, deputies responded to report of suspicious person in the 800-block of California St, Maricopa.

12:34 pm, deputies responded to report of fraud using personal information in the 300-block of Philippine St. Report required.

1:15 pm, deputies received a 9-1-1 call in the 400-block of Polk St. Phone line malfunction.

1:35 pm, deputies responded to report of animal cruelty in the area of Mary St/Bush St. Unable to locate, circulated area.

1:50 pm, deputies assisted counter traffic at the Taft Substation.

3:44 pm, deputy initiated activity in the 500-block of Harrison St.

3:54 pm, deputy initiated activity in the 600-block of B St.

4:41 pm, deputies performed a patrol check in the area of California St/Main St, Maricopa.

4:47 pm, deputies performed a patrol check in the area of Klipstein Canyon Rd/33 Hwy, Maricopa.

4:52 pm, deputies performed a patrol check in the area of Stubblefield Rd/33 Hwy, Maricopa.

5:38 pm, deputies responded to report of a peace disturbance in the 200-block of Adams St.

7:08 pm, deputies responded to request to check the welfare in the 600-block of Lincoln St.

9:20 pm, deputy initiated activity in the 500-block of North St.

10:29 pm, deputies responded to report of a peace disturbance in the 300-block of Broadway St, Maricopa.

10:35 pm, deputies responded to report of a peace disturbance in the 300-block of D St.

10:59 pm, deputies responded to report of annoying phone calls in the 700-block of Madera St, Maricopa.

11:29 pm, deputy initiated traffic stop in the area of S 10th St/A St. Arrest

Arrests:
Shaun Cowan, Parole violations, possession of drug paraphernalia
Randell Ewing, possession of controlled substance, possession of drug paraphernalia
Jeremiah Bright, possession of drug paraphernalia
William Phillips Jr., under the influence of a controlled substance
Christopher Bumgardner, burglary: 2nd degree, receive stolen property
Marcelino Barber, driving without a license, possession of controlled substance, transportation of a controlled substance.

EAST ST. LOUIS, IL (KTVI) The Christian Activity Center is what some call a little bit of hope in a very tough place.  The center is located in the Gompers housing projects in East St. Louis.

The executive director of the center is Chet Cantrell.  He believes that kids need a place to go and be safe.

East St. Louis has suffered through the years and this is a tough place.  There are a lot of things stacked up against kids in this area for sure, says Cantrell.

The center is opened after school, Monday through Friday.  And its a place where kids can play games.  Get something to eat and get help with their homework.  And its all done under one roof where the kids know they are safe.

The center is paid for mostly through private donations.  Only 3 percent of the centers budget comes from government grants.

Cantrell and the other workers at the center have made it a mission to give these kids a chance to grow up and be the best they can be.

You feed their dreams and take them to places that they can see, says Cantrell.

* China copper imports may slow in March -Macquarie
* China March HSBC flash PMI 48.1 vs 49.6 Feb final reading

(Updates prices)
By Melanie Burton
SINGAPORE, March 22 (Reuters) – London copper futures turned
negative on Thursday after data showed factory activity in
China, the worlds top metals consumer, shrank for a fifth
month.
Three-month copper on the London Metal Exchange
dropped 0.9 percent to $8,383.50 a tonne by 0738 GMT.
Copper steadied above 11-day lows of $8,345 a tonne touched
on Tuesday, when sentiment took a hit after top miner BHP
Billiton flagged China growth concerns by warning of
flattening iron ore demand from the worlds second-largest
economy.
The most-traded June copper contract on the Shanghai Futures
Exchange dropped 1.1 percent to 59,750 yuan ($9,400) a
tonne.
Chinas manufacturing sector activity shrank in March with
the overall rate of contraction accelerating and new orders
sinking to a four-month low, the HSBC flash purchasing managers
index showed on Thursday.
This is in line with the continued moderation story, but I
dont think it signifies a more noticeable slowdown at this
juncture, said Thomas Lam, an economist at DMG Partners
Securities in Singapore
We are still holding on to our call that there will be some
moderation in the first half of the year for the Chinese
economy, followed by stabilisation and a slight pickup by the
second half of the year.
China is the worlds top metals consumer, and accounts for
40 percent of refined copper demand.
The final reading of the HSBC PMI for March is due on April
1.

FUNDAMENTALLY STRONG
Sentiment towards metals has been tarnished by a longer than
expected period of sluggish demand since Chinas Lunar New Year
in late January.
Traders said prices may come under renewed pressure as
Europe opens and market participants cut their exposure to
metals, given the latest figures.
We might get a pop back higher but I think London will look
at that data and sell, a Singapore-based trader said.
In terms of fundamentals, Chinese trade data this week
showed copper imports in February remained strong, in part as
the metal is used as collateral for cheaper funding, but this
may lead to lower imports ahead, Macquarie said in a research
note.
(We) expect that due to sufficient copper availability on
the ground in China we will see net imports of copper decline in
March, Macquarie said in a research note.
Chinas inflows of refined copper rose 12 percent
month-on-month in February to hit the third-highest level ever
on delayed shipments from the holiday month of January and as
buyers stocked up on expectations of rising demand during the
peak March-May consumption season.

Base metals prices at 0738 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 8383.00 -72.00 -0.85 10.30
SHFE CU FUT JUN2 59750 -650 -1.08 7.93
HG COPPER MAY2 380.90 -3.65 -0.95 10.86
LME Alum 2204.50 -5.00 -0.23 9.13
SHFE AL FUT JUN2 16205 -65 -0.40 2.27
LME Zinc 2016.75 -3.25 -0.16 9.31
SHFE ZN FUT JUN2 15600 -220 -1.39 5.44
LME Nickel 18670.00 -135.00 -0.72 -0.21
LME Lead 2025.50 -18.50 -0.91 -0.47
SHFE PB FUT 15615.00 -115.00 -0.73 2.16
LME Tin 22660.00 -340.00 -1.48 18.02
LME/Shanghai arb^ 2118

Shanghai and COMEX contracts show most active months
($1 = 6.3229 Chinese yuan)

(Additional reporting by Manolo Serapio Jr.; Editing by
Jacqueline Wong and Joseph Radford)

Following are the highlights for the
equity derivative market activity at the National Stock Exchange
and the Bombay Stock Exchange.
—————————————————————————-
Futures amp; Options Units 21-Mar-12 20-Mar-12 % Change
—————————————————————————-
Famp;O
Traded Contracts INDRTOCO Qty NA 5036879.0 NA
Turnover INDRTOTU Rs Bn NA 1357.9 NA
OI Contracts INDRTOOI Qty NA 5297783.0 NA
OI Value INDRTOOV Rs Bn NA 1444.2 NA

FII
Traded Contracts Qty 0.0 19423380.0 -100.00
Turnover Rs Bn NA 519.7 NA
OI Contracts Qty 0.0 3571541.0 -100.00
OI Value Rs bn 0.0 967.1 -100.00
—————————————————————————-

* NA – Not available at the time of reporting due to more than usual delay
in release by source.

To contact the reporter on this story:
–Shraddha Kothari in Mumbai at
skothari5@bloomberg.net

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BY KATY BURNE

NEW YORK&—Trading activity on a derivatives index that tracks the cost of protecting debt issued by 15 European sovereigns jumped Monday to its second-highest level ever after investors shunned Italian government bonds, stoking fears of contagion spreading from the still-unresolved Greek debt crisis.

The iTraxx SovX Western Europe index’s 303 trade count was more than four times its daily average since its inception last December, reflecting adjustments by traders of sovereign positions in response to changing market conditions, according to Markit, which administers the index.

…