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Siemens Says Revamp Will Cut Up To 12,000 Jobs

Image from GNU Free Documentation License | Wikimedia

Image from GNU Free Documentation License | Wikimedia

Siemens said it was weighing cuts of 11,600 jobs worldwide, as the Germany industrial giant seeks to restructure its business.

Jobs Under Threat

The planned cuts directly affect 7,600 jobs. Another 4,000 positions are potentially affected as part of the company’s plan to simplify regional operations.

“A certain amount of people do stuff for coordinating things, analyzing things,” said Chief Executive Joe Kaeser in a conference. “About 20 percent of those we believe can be put to work elsewhere, but not there. They can be taken out of the system because the work goes away.”

Strategy Overhaul

The executive said some of the employees would be assigned other roles. Siemens is also holding meetings on the plans with its works council.

The reductions come after the previous 15,000 job cuts. Siemens prepares to reorganize itself into nine divisions from its initial 16.

CEO Kaeser tried to calm the waters in a statement to employees, highlighting that not all 11,600 positions would be cut.

June 3, 2014 at 6:07 amDirect Service

Obama Makes Unannounced Trip To Afghan, Says War Will Come To An End

obamaPresident Barack Obama made a surprise trip to Afghanistan on the eve of Memorial Day, as his administration plans to end the country’s longest war at the end of 2014.

End Of War

Obama was cheered by soldiers during his trip to Bagram Airfield outside Kabul.

“By the end of this year… Afghans will take full responsibility for their security and our combat mission will be over. America’s war in Afghanistan will come to a responsible end.”

Obama thanked U.S. troops in Afghanistan for their fight to protect America and promising to repay the sacrifice with lifetime commitments.

Security Agreement

Combat troops are expected to leave the country by year’s end.

However, Obama is seeking to keep a small number of soldiers in Afghanistan beyond 2014 to train Afghan security forces and conduct counterterrorism missions. That plan depends on the next Afghan leader signing a bilateral security deal.

Obama clarified that America would remain committed to Afghanistan if the incoming leader approved the security deal.

May 27, 2014 at 3:19 amDirect Service

The Banking Wheel: Catching the Downturn

propertyThere are many banking and financial terms that are hard to understand and scary for many people. But a term that most people understand is property foreclosure, and it’s never a welcome word for anyone’s ears. Nobody wants to lose their home, but it happens and nobody is happy, no, not even the banks.

Foreclosures Are Bad

Just imagine this, you loan your neighbor a hundred dollars to buy a nice coffee maker, somehow they can’t pay you back and they give you the coffee maker. But you already have a nice coffee maker; the second one just takes up space on the kitchen counter. The only recourse is to get rid of it, and nobody’s going to buy a used coffee maker at retail price. So say good-bye to a significant portion of that hundred dollars, because you’ll never see it again.

The longer a bank holds foreclosed properties, the longer it needs to maintain those properties to keep resale value as high as possible, and recoup the loss they incurred on the loan. Obviously, not all situations are similar to the one above because of interest. But generally, banks want you to keep your home, since it means they get their money back.

Foreclosures Are Good

All of this paints a sour picture on foreclosures, but there is a bright side to it. For every bank that loses some of its starting loan money, there’s a homeowner lucky enough to have money at the right time, and is able to buy a house at a lower rate.

The house buying game is all about timing, and knowing when the time is right to open the house fund for maximum savings. But this is incredibly difficult because of the fast and unpredictable nature of the market. In order to catch a home at a lower rate, a prospective buyer needs to wait for the downturn that’s inevitable in all market cycles. The only problem is, everybody else is working to prevent that downturn and keep the cycle on the upturn for as long as possible.

There’s always two sides to a financial situation, and even the most negative stories can still have its positives. It’s just a matter of looking at things the right way, and making moves to make the best of any situation.

May 20, 2014 at 7:07 amFinance

What To Do With Back Coins?

gold coinsWhen cleaning your storage room, it may seem like you found a treasure chest after opening a bag of old, or even pre-historic coins. You will surely become fascinated with them, but you may begin to wonder what to do with them.
Here are some ways you can do with these coins:

Sell Them To Coin Collectors.

If you have bags of old coins, you can go to authorised coin collectors or dealers of gold bullion in the United Kingdom. Accredited dealers can give you an excellent trading schemes at competitive price range. You can also try investing in gold bars in the UK with your profit from back coin trading.

Create A Piece Of Art.

If you want to keep them instead, you can create an artwork made with back coins. You can create a picture out of different coins, or make a decent floor finish made with coins. You can redecorate your office table at home with coins beneath the glass as well. This will let you imbibe an artistic and nostalgic ambiance in the room.

A Florida-based Israeli artist named Niso Maman sculptured an image of a nude female with brightly shining Israel agorot coins. The artist has also used unusual and intriguing objects such as nails, key and even tumbled glass, in his other works.

Be A Coin Collector Yourself.

You do not need to put up a business for this. You can simply keep back coins and a few of the current ones in your storage cabinet. You might be needing them in the future, or when it is time to tell stories to your grandchildren. You can teach them the lessons of the time by recounting the history through your coin collection.

Turn Your Back Coins Into Pieces Of Coin Jewelry.

As trends normally reoccur, coin jewellery items are in the market again. You can join in the trend, by recycling your UK pennies, and turning them into one fine piece of coin jewellery that you can wear in casual and formal clothes. This might require a bit of work and shelving out of money, but a classic coin necklace is worth the money and effort.

Old things can be reinvented into something useful and profitable, but make informed decisions. Are you trading them for profit or are you tailoring them to make fine pieces of jewellery?

May 19, 2014 at 6:12 amFinance

Teenage Girls receive Lab-Grown Vaginas

Iranian surgical tecnologistFour girls successfully received lab-grown vaginal organs. The girls, between 13 and 18 years old at the time of surgery, were born with Mayer-Rokitansky-Küster-Hauser (MRKH) syndrome. MKRH is a rare condition where the vagina and uterus are either underdeveloped or absent. Researchers deemed the operations a long-term success.

Reconstructive surgery breakthrough

Anthony Atala, Director of Wake Forest Baptist Medical Centre for Regenerative Medicine led the research team.

“This pilot study is the first to demonstrate that vaginal organs can be constructed in the lab and used successfully in humans,” he said.

He added that the study gave a new option for patients in need of vaginal reconstructive surgery. Thanks to it, lab-grown vaginal organs could be used on patients with vaginal cancer or vaginal injuries.

Functionality equals success

Data gathered from checkups show that the organs had normal function.  The four girls answered Female Sexual Function Index questionnaires. Results show that since the surgeries (between June 2005 and October 2008), the girls had been able to experience normal sexual functions.

April 14, 2014 at 10:58 amHealth & Lifestyle

UK To Launch ‘Most Secure,’ Anti-Counterfeiting £1 Coin

The old Royal Mint building

Image by Julie Cookson | Wikimedia

The United Kingdom will soon roll out the coin they dub the “most secure in the world” in 2017: a new £1 coin.

Anti-counterfeiting measure

According to the Royal Mint, 3% of all £1 coins – or roughly 45 million pieces – in circulation are counterfeit, and that this new design – equipped with the latest security measures – would be the way to restore the confidence of the public with the UK currency.

The current £1 coin has been already 30 years old, and many have expressed concerns with its vulnerability to creating fake copies.


Chancellor George Osborne broke the news on Twitter, with a photo of the new coin and the caption: “Today I will deliver a Budget for  resilient economy – starting with a resilient pound coin.”

The new design takes its inspiration from the three pence piece from the early ‘70s.

Royal Mint chief executive Adam Lawrence said that the new, technologically advanced manufacturing of the coin can be the start of a revolutionary change in how countries create coins.

“It is our aim to identify and produce a pioneering new coin which helps to reduce the opportunities for counterfeiting, helping to boost public confidence in the UK’s currency in the process,” said Lawrence.

March 20, 2014 at 5:53 amFinance

Mysterious Flight 370: The Search Expands To Indian Ocean

The search for the missing Malaysia Airlines Flight 370 started in the sea between Malaysia and Vietnam and has expanded into the vastness of the Indian Ocean.

The search continues


Image by Charaka Ranasinghe | Wikimedia

As days passes by, the wider the search area for the missing plane becomes.

“It’s a completely new game now,” said Cmdr. William Marks of the U.S. 7th Fleet, which is helping in the search.

“We went from a chess board to a football field,” he added when asked to describe the situation.

U.S. officials believe the plane may have crashed into the Indian Ocean.

‘Look further’

USS Kidd, a destroyer from the U.S. Pacific Fleet, headed for area to help with search.

“A normal investigation becomes narrower with time, I understand, as new information focuses the search,” said Hishammuddin Hussein, the minister in charge of defense and transportation, in a statement. “But this is not a normal investigation. In this case, the information we have forces us to look further and further afield.”

March 18, 2014 at 5:21 amDirect Service

US Investment Firm Increases Stakes In Man Utd


Image by André Zahn | Wikimedia

Baron Capital, an investment firm in the US, is recently building up stakes in an English club, Manchester United. The club is listed in New York as Manchester United PLC.

Almost a Quarter

Through a stock listing, the Glazer family has sold 10 per cent of its holding in the club back in 2012. But now, Baron Capital is reported to have bought around 24 per cent of those shares.

The shares of Man Utd were down 0.9 early March 11 at $15.71.

Investment Strategy

In spite of such a huge financial move, many experts say that it is simply an investment strategy.  According to financial analyst Andy Green, Baron’s move looks nothing like a takeover.

“This is absolutely not the start of any takeover,” said Green. “You could buy all the shares available on the stock market and you would still only have 10 percent of the club and about 1.3 percent of the votes …. They have a reputation as a long-term investment company.”

Manchester United is one of the most lucrative brands in the sports world, though it is currently struggling in the Premier League season.

March 13, 2014 at 5:04 amFinance

Twitter Bans Explicit Content On Vine App

twitter logo

Image by Denise R

Social media site Twitter has officially banned pornographic content on its video-sharing app Vine.

‘Not a good fit’

Twitter changed its content policy to remove explicit content from Vine, an app that allows users to share videos.

“We’ve found that there’s a very small percentage of videos that are not a good fit for our community,” the company said in a blog post.

The changes go into effect immediately.

Naughty content

As social media sites grow, there’s an increasing tendency that more users share explicit content even though it has already been part of the web culture since the beginning.

But Twitter’s move shows it’s no longer comfortable with that type of content.

Meanwhile, Vine issued a statement regarding Twitter’s latest move.

“For more than 99% of our users, this doesn’t really change anything. For the rest: we don’t have a problem with explicit sexual content on the Internet – we just prefer not to be the source of it,” said Vine.

March 10, 2014 at 3:31 amE-Commerce

Venezuelan Protesters Vow To Continue “Democratic Fight”

Flag of VenezuelaVenezuela celebrates the death anniversary of former President Hugo Chavez with a weeklong holiday. On its first day, students took to the streets, demanding the government to end the crackdown on protests and release activists who have been in jail for weeks.

Calming the Tensions

Earlier this week, President Nicolas Maduro included Thursday and Friday to the scheduled long carnival weekend. For many, this is the way of the government to calm the growing tension among its citizens.

Sending a Message

On Thursday, hundreds of students gathered in east Caracas, manning burning street barricades and clashing with the authorities. It was their way of telling the government that no holiday will distract them.

According to Juan Requesens, the government wants to demobilize demonstrators with a decree that combines the commemoration of the Caracazo and the Carnival. He says, “Maduro is mistaken… We’re not going to leave our democratic fight for six days at the beach.”

March 3, 2014 at 6:36 amInfo Tech