The Female Factor: Chinese Courts Turn a Blind Eye to Abuse







BEIJING — Before they married in 2009, Tan Yong admitted to Li Yan that he had beaten his three previous wives. He promised to change.




The promises didn’t last, said Li Dehuai, Ms. Li’s brother. Soon after the wedding, Mr. Tan began abusing his wife.


“He stubbed out cigarettes on her face and legs. He would take her hair and hit her head against the wall. He locked her on the balcony for hours in the winter,” said Mr. Li, speaking by telephone from Chongqing in southwestern China. The abuse went on for more than a year.


Today, Mr. Tan is dead, beaten to death by Ms. Li with the barrel of his air gun during an argument in November 2010, and Mr. Li is trying to save his sister’s life as she sits in a jail in Sichuan Province awaiting execution for murder. The case has caused an outcry among Chinese legal experts and feminists, who say it underscores the severe sentences often imposed on women who fight back, injuring or killing abusive husbands.


“Li Yan’s case tells people that extreme tragedy will happen if an abused woman cannot get effective help from the neighborhood committee, the women’s federation, the police,” said Feng Yuan, of the Anti-Domestic Violence Network, based in Beijing.


“When power cannot deliver justice, abused women will find their own way of achieving justice, sadly and wrongly,” Ms. Feng said.


Chinese law requires that a history of domestic abuse be considered in such cases. Ms. Li’s was especially gruesome: After killing her husband (which she confessed to early, asking a neighbor to call the police), she cut him up and boiled some of the parts. If that is hard to excuse, consider this, said Ms. Feng: She wasn’t in her right mind.


“There’s something called abused women’s syndrome, and she had it. A woman like that may lose her reason and lose control,” said Ms. Feng, one of hundreds of people petitioning the courts to retry Ms. Li, this time taking the abuse into proper consideration. This was not done the first time, making Ms. Li’s case a miscarriage of justice, they say.


Others who have joined the appeal include lawyers, deputies to the National People’s Congress and Amnesty International, which last week issued an urgent action call for the Chinese authorities not to execute Ms. Li. The sentence could be carried out any day now, activists say, probably before the Lunar New Year’s Eve on Feb. 9.


Women’s jails are filled with women who have injured or killed abusive husbands, according to the Anti-Domestic Violence Network, citing studies by local women’s federations and scholars. They account for 60 percent of inmates in one jail in Anshan, in Liaoning Province, and 80 percent of women serving heavy sentences in a jail in Fuzhou, in Fujian Province.


In a study by Xing Hongmei of China Women’s University, of 121 female inmates in a Sichuan jail who were serving time for attacking or killing abusive partners, 71 were originally sentenced to life in prison or to death (sometimes commuted, delayed or overturned on appeal), and 28 more were sentenced to at least 10 years. This means more than 80 percent received the heaviest possible sentences for murder or bodily harm, the study said.


For months before she killed Mr. Tan, Ms. Li sought help from the authorities in Anyue County, in Sichuan Province, where they lived, her brother said.


“She telephoned the police in, I think, May 2010, after a beating, but they said it was an affair between married people and hung up,” he said.


She went to her neighborhood committee. “They told her to go to the women’s association. The women’s association told her to go to the police. The police told her to go to the neighborhood committee,” and so it continued, he said. “She was sent from place to place and didn’t know what to do.”


Officials at the local justice department whom she asked about divorce told her that unless Mr. Tan agreed, she could be left destitute. She was better off tolerating the abuse, they advised.


There was some documentation of the abuse, including police photographs of injuries and a medical report after hospital treatment, said Mr. Li. But both the Sichuan court that sentenced her and the Supreme Court in Beijing, which reviews all death sentences — Mr. Li and activists say it upheld his sister’s sentence last week — failed to take this into account when sentencing her, Mr. Li said.


“We all hoped the court would recognize the torture she’d suffered in those years,” he said. “But it didn’t.”


“I know what my sister did was wrong, but since this happened, I have studied many cases of domestic abuse, and I know her situation is not uncommon,” he said.


He has not yet been able to tell their mother, or Ms. Li’s 18-year-old daughter from a previous marriage, that Ms. Li faces imminent execution.


“I think my niece knows, somehow,” he said. “But my mother couldn’t take it.”


Their father, who died last year, had worked in the same silk factory as Ms. Li and Mr. Tan, and had disliked the man from the start, Mr. Li said.


“He was so depressed at her situation,” he said. “I think he died of grief.”


Read More..

Troubled smartphone pioneer RIM prepares to raise the curtain on BlackBerry 10






NEW YORK, N.Y. – After several technical blunders, two unexpected delays and one major shakeup in its leadership, BlackBerry-maker Research In Motion is about to raise the curtain for its new smartphone devices in hopes that consumers share the excitement.


The unveiling of the phones and operating system on Wednesday marks the start of an advertising blitz that will stretch to social media, the Super Bowl and beyond as RIM tries to regain the cool factor that was once firmly in its grasp.






If all goes according to plan, the event will also mark the end of a troublesome 12 months that has seen RIM try to stay afloat while its future was constantly in question by outsiders, and its stock price tumbled to the lowest level in about a decade.


While the first hurdles to overcome on Wednesday are the opinions of tech analysts and investor reaction, the true measure of success — actual sales of the phones — is still weeks away.


As a crowd of thousands gathers Wednesday at Pier 36, a massive entertainment venue on the shores of Manhattan, chief executive Thorsten Heins will step onto the stage holding the BlackBerry that has been at once considered the company’s last hope, but also its biggest hurdle.


Just over a year ago, when Heins took over the top spot at RIM, the smartphone maker was in a state of flux as its marketshare tumbled in North America against growing competition from Apple’s iPhone and various devices on the Android operating system.


Analysts had widely blamed the lack of leadership from former co-CEOs Jim Balsillie and Mike Lazaridis as the reasons that RIM failed to innovate its way out of trouble, but they also said that Heins had much to prove in hardly any time.


The company was in a bubble, insisting that it hadn’t lost its footing in the smartphone industry, even though from the outside their downfall was indisputable.


But as the dust settled from Balsillie’s exit in March 2012, Heins began to face the realities of RIM’s problems and launched a major overhaul of its middle management and deep cuts to its operations.


While Heins preferred to call it removing a “little fat on the hips,” the changes at RIM were a far more strategic and complex surgery.


The company closed some of its manufacturing facilities and announced plans to lay off about 5,000 workers, as it aimed to save $ 1 billion across RIM’s operations by February 2013. Heins reached that savings goal, and he did it three months ahead of schedule.


“He is probably one of the least dogmatic people at RIM,” said Carl Howe, vice-president of consumer research at Yankee Group.


“I think he learned from his predecessors.”


Despite all of the changes, Heins was still up against the fact that development of the BlackBerry 10 operating system was woefully behind schedule. Already delayed from a launch in 2011, the CEO was forced in June to further push the debut into 2013, missing crucial sales periods like the back-to-school and Christmas holiday shopping seasons.


While analysts hated the idea of another delay, it also bought the company some extra time to tweak the software to capitalize on the weaknesses of competitors’ smartphones.


One of those features is the BlackBerry Balance technology, which allows one phone to operate as both a business and personal device entirely separate from each other. Another one lets users seamlessly shift between the phone’s applications like they’re flipping between pages on a desk.


The BlackBerry Messenger chat program will also get an update that includes video chat and screen sharing options.


RIM’s executives also began an aggressive campaign last year to win the developer community. Under its previous leadership, the BlackBerry had practically ignored the growing popularity of smartphone applications for services like Netflix, Skype and Instagram.


A sea of change was coming under its new leaders, and Heins had managed to at least steady a company that was swaying on its pillars by coming up with unconventional ideas.


As the BlackBerry lost steam in North America and Europe, he turned to developing countries like Indonesia and Nigeria to keep revenues flowing in the near term. In those places, consumers were hungry for low-cost smartphones and the BlackBerry was still considered a status symbol.


The decision helped RIM keep its subscriber base steady, and maintain its $ 2-billion cash reserve, which was set aside for emergencies. It will use some of that money to promote the new phones.


“Up until now I think everything (Heins) laid out in terms of his plan … he’s shown that he’s executed on it,” said Richard Tse, an analyst at Cormark Securities Inc.


“In terms of what they’ve done on the development side, in terms of streamlining the operations and preserving the cash, I think he’s done a very good job to date.”


Investors aren’t satisfied with all of his decisions, however, especially when Heins unveiled a rough plan in December that will likely eat into the lucrative service fees charged to BlackBerry subscribers.


Heins told analysts on its most recent earnings conference call that RIM plans to launch an a la carte menu of services where both enterprise customers and casual smartphone users can pick their packages. The change would likely mean reduced revenues in one of the most lucrative areas of its business.


Even on the dawn of the new BlackBerry unveiling, there are still questions about whether RIM will exist in its current form this time next year. Some analysts have said the company will eventually be forced to sell off at least its hardware division, if not more.


“They’re in such a difficult position that I can’t think of a management change that would help them get out of it,” Tim Long of BMO Capital Markets.


“Clearly there are people out there that think the BlackBerry 10 is going to be something that gets them back on the map. We don’t think so.”


Long said his checks within the mobile phone industry have shown that carriers aren’t particularly interested in RIM’s touchscreen smartphone, but they’re more anxious for the keypad version, or QWERTY phone, due sometime after the initial launch.


“We think that’s an issue,” he said.


If the stock price is any sign, RIM’s investors are at least more confident this month then they’ve been in a long time. As of Monday’s closing price, RIM’s shares have risen 167 per cent from its lowest level in about a decade, reached in September, on the Toronto Stock Exchange.


Several analysts have boosted their target prices for the company’s stock in the past two weeks.


Whatever happens after the new BlackBerrys are unveiled, it’s certain that RIM isn’t in the clear yet.


“Product transitions are always pretty ugly,” said Howe.


“The good news is if you can get yourself through to the other side … you have an opportunity to disrupt the market yourself.”


Wireless News Headlines – Yahoo! News




Read More..

Soldier talks about his new arms after transplant


BALTIMORE (AP) — A soldier who lost all four limbs in an Iraq roadside bombing has two new arms following a double transplant at Johns Hopkins Hospital.


Twenty-six-year-old Brendan Marrocco along with the surgeons who treated him will be at the Baltimore hospital on Tuesday to discuss the new limbs.


The transplants are only the seventh double-hand or double-arm transplant ever conducted in the United States.


The infantryman was injured by a roadside bomb in 2009. The New York City man also received bone marrow from the same dead donor. The approach is aimed at helping his body accept the new arms with minimal medication to prevent rejection.


The military is sponsoring operations like these to help wounded troops. About 300 have lost arms or hands in the wars.


Read More..

Stock futures tick lower, but Ford, Pfizer rise early


NEW YORK (Reuters) - Stock index futures edged lower on Tuesday as investors looked to take profits following an extended rally and as they waited an onslaught of earnings and data.


On Monday, the S&P 500 index closed slightly lower, ending an eight-day run of gains. However, the index remained above 1,500, suggesting there was still support for the market.


Investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record, research provider TrimTabs Investment Research said.


The gains have come on a strong start to earnings season. Thomson Reuters data showed that of the 150 companies in the S&P 500 that have reported earnings so far, 67.3 percent have beaten analysts' expectations, which is a higher proportion than over the past four quarters and above the average since 1994.


Yahoo Inc rose 1.9 percent to $20.70 in premarket trading a day after reporting adjusted earnings that beat expectations and forecasting a rise in annual revenue.


Ford Motor Co jumped 2.4 percent to $14.11 in premarket trading after reporting results early Tuesday, while Pfizer Inc rose 0.6 percent to $27 after results.


Amazon.com Inc is slated to report results after the market closes.


Eli Lilly and Co reported adjusted fourth-quarter earnings and revenue that beat expectations.


S&P 500 futures fell 5.3 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 2 points and Nasdaq 100 futures slid 9.5 points.


The Federal Reserve's Open Market Committee begins two days of meetings on interest rates. Traders speculated more solid U.S. growth indicators might see the Fed pull back on its aggressive easing stimulus, which has played a key role in fuelling an equity market rally since the second half of last year.


Investors will also look to the latest economic data for evidence the recent rally, which took major averages to five-year highs, was justified.


January consumer confidence, due at 10 a.m. (1500 GMT) is seen dipping to 64 from 65.1 in the previous month. The S&P Case/Shiller Home Price Index for November is seen showing an increase of 0.6 percent in home prices. Case/Shiller is due at 9 a.m.


While the housing market has recently shown signs of improvement, data released on Monday showed pending home sales unexpectedly slumped in December.


U.S. stocks edged modestly lower on Monday. However, Caterpillar Inc rallied after results, limiting losses in the Dow, while a rebound in shares of Apple Inc kept the Nasdaq in positive territory.


(Editing by W Simon)



Read More..

India Ink: One Delhi Gang Rape Suspect Is Ruled a Minor

NEW DELHI

The Indian Juvenile Justice Board ruled Monday that one suspect in the recent fatal gang rape of a young woman on a moving bus is officially a juvenile, which could result in a lenient sentence if he is found guilty of the crime.

The teenager, who school records show is 17 years old, could receive a maximum sentence of three years in a detention facility if found guilty. Five other men accused of the premeditated rape and killing of a 23-year old physiotherapy student on Dec. 16 could face life imprisonment or the death penalty if found guilty.

The December gang rape and the victim’s subsequent death of injuries sustained during the rape prompted widespread protests in India over the lack of safety and justice for women, and calls for the rapists to be executed.

Some criminal and legal experts expected the juvenile to be forced to undergo a bone ossification test, which is sometimes used to determine age in India where birth records are not always accurate. But the juvenile board’s ruling Monday makes that unlikely.

Separately, the judge in a fast-track court set up to try the five men accused in the Delhi gang rape on Monday rejected a plea by one suspect, Vinay Sharma, that he take a bone ossification test in order to prove his age, to prove he is a juvenile. Mr. Sharma’s mother told India Ink earlier this month that he was born in March 1994, which would make him 18, or legally an adult.

Lawyers for the five suspects on Monday began their arguments on the framing of charges against the men. They are jointly facing 14 charges, including robbery, murder, kidnapping and gang rape.

V.K. Anand, the lawyer for two of five suspects, brothers Ram and Mukesh Singh, argued on Monday that a majority of the charges against his clients should be dropped. The fast-track court, in the Saket District Court Complex, meets again Tuesday at noon.

Read More..

Jennifer Lawrence Feeling Better Thanks to a 'Lot of Medication'









01/28/2013 at 07:00 AM EST



Jennifer Lawrence is on the mend.

The ailing Silver Linings Playbook starlet is finally feeling fine after a reported bout with pneumonia.

"I'm so much better," Lawrence, 22, told reporters backstage at Sunday's Screen Actors Guild Awards, where she won for lead female actor. "I'm a lot better. I've been on a lot of medication and got a really cool inhaler, so I'm doing much better."

The actress – who was "laying low all week," a source told PEOPLE – missed Saturday's Australian Academy of Cinema and Television Arts International Awards due to the illness, according to her costar Jacki Weaver.

"Poor Jen is really sick," Weaver reportedly said, after accepting an award for Lawrence. "She really is sick. She has pneumonia."

Read More..

CDC: Flu seems to level off except in the West


New government figures show that flu cases seem to be leveling off nationwide. Flu activity is declining in most regions although still rising in the West.


The Centers for Disease Control and Prevention says hospitalizations and deaths spiked again last week, especially among the elderly. The CDC says quick treatment with antiviral medicines is important, in particular for the very young or old. The season's first flu case resistant to treatment with Tamiflu was reported Friday.


Eight more children have died from the flu, bringing this season's total pediatric deaths to 37. About 100 children die in an average flu season.


There is still vaccine available although it may be hard to find. The CDC has a website that can help.


___


CDC: http://www.cdc.gov/flu/


Read More..

Stocks futures flat, Caterpillar on tap to report


NEW YORK (Reuters) - Stock index futures were little changed on Monday, with investors reluctant to make big bets following a rally that took the S&P 500 above 1,500 for the first time in more than five years.


A strong start to the earnings season has boosted equities, with major averages rising for four straight weeks. The S&P has gained for eight straight days, its longest winning streak in eight years.


Over the past four weeks, the S&P has jumped 7.2 percent, suggesting markets may be vulnerable to a pullback if news disappoints.


Earnings will continue to be a primary focus, with Caterpillar Inc likely to be a market mover when it reports its latest quarterly financial results later on Monday. The heavy machinery maker could provide a clue into the state of the global industrial sector, which is closely tied to the pace of economic growth.


Yahoo Inc reports after the closing bell, and could face heightened expectations following strong results at Google Inc last week.


Thomson Reuters data through Friday showed that of the 147 S&P 500 companies that have reported earnings so far, 68 percent exceeded expectations. Since 1994, 62 percent of companies have topped expectations, while the average over the past four quarters stands at 65 percent.


S&P 500 futures rose 0.8 point and but were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 7 points and Nasdaq 100 futures rose 0.2 point.


The S&P 500 closed at its highest since December 10, 2007, and the Dow ended at its highest since October 31, 2007.


Investors will also be looking to durable goods orders and pending home sales, both for December. Durable goods are due at 8:30 a.m. (1330 GMT) and are seen rising 1.8 percent. Pending home sales are seen rising 0.3 percent.


Last week, sales of new U.S. single-family homes fell in December but rose in 2012 to the highest level since 2009, a sign the U.S. housing market turned a corner last year.


Bargain hunters may look to Apple Inc for a bargain the first session after the tech giant lost its coveted title as the largest U.S. company by market capitalization to Exxon Mobil Corp . On Friday, Apple's market cap fell to $413 billion, down roughly $250 billion from its September peak. Apple's fall is about equal to the entire value of Google Inc .


U.S. stocks rose on Friday, lifted by strong results from such companies as Procter & Gamble . The rise put the S&P 500 about 4.1 percent away from its all-time closing high of 1,565.15 on October 9, 2007.


(This story was refiled to remove extraneous word "above" in 7th paragraph)


(Editing by W Simon)



Read More..

IHT Rendezvous: The Clinton Doctrine of American Foreign Policy

The partisan political theater, of course, was top-notch. Sen. Rand Paul’s declaration that he would have fired Hillary Rodham Clinton; her angry rebuttal of Sen. Ron Johnson’s insistence that the Obama administration misled the American people about the Benghazi attack; Sen. John McCain’s continued outrage at the slapdash security the State Department provided its employees.

Beneath the posturing, though, ran larger questions: what strategy does the United States have to counter the militant groups running rampant across North and West Africa? And what kind of secretary of state has Mrs. Clinton been? In her last Congressional hearing in that position, Mrs. Clinton expressed exasperation with Washington’s political trench warfare.

“We’ve got to get our act together,” she said.

Mrs. Clinton has been a very good but very cautious secretary of state, many analysts say – one who, for the most part, kept her distance from Afghanistan, Israel-Palestine and other seemingly intractable conflicts.

One State Department official, while praising Mrs. Clinton’s tenure, nonetheless looked forward to the arrival of Sen. John Kerry, her designated successor: “I came to admire Clinton as secretary of state, her focus on women and innovation in particular,” the official told me. “But am really happy to have someone in the job who does not retain political ambitions.”

In a recent assessment of Clinton’s tenure, Michael O’Hanlon of the Brookings Institution argued that she had enjoyed some success, including restoring the United States’ image abroad, but she made no historic breakthroughs, he said.

Mr. O’Hanlon argued that Mrs. Clinton’s famed work ethic paid off. She made few mistakes, no major gaffes and did not “needlessly antagonize” friends or enemies. O’Hanlon called Mrs. Clinton’s role in the administration’s “pivot to Asia” and tough stance toward China arguably “her greatest and most memorable contribution.”

The problem, as last week’s hearing showed, is that the Middle East and the threat of terrorism continue to dominate American foreign policy. Even as the United States becomes more energy independent, terrorist attacks like the kidnappings in a remote oil facility in Algeria will make headlines and influence markets. And barring a massive shift in American domestic politics, Israel’s security will continue to be viewed as a vital interest of the United States.

Mrs. Clinton, to her credit, made forty trips to Europe that helped produce crippling new sanctions on Iran. Last fall, she helped broker a ceasefire between Israel and Hamas in Gaza. But she failed to personally engage in Israeli-Palestinian peace talks.

To be fair, the Obama White House may have limited her options. After promising more open debate than occurred under President George W. Bush, the Obama White House tightly controlled the formulation of American foreign policy. Critics have also accused Mr. Obama of being overly cautious in foreign affairs.

With the exception of the Libya intervention and the raid that killed Osama bin Laden, Mr. Obama was “coolly calculating and reluctant to engage” in his first-term foreign policy, The Economist magazine recently argued.

Mr. Obama, of course, is trying to avoid the over-reach his predecessor displayed in Iraq. He also faces enormous fiscal pressures at home. But there is a risk that the pendulum is swinging too far toward a smug isolationism in Washington.

As Mrs. Clinton departs, worrying trends are emerging in the way America engages with the world. The new U.S. weapon of choice is the drone strike – a tactic that carries zero political risk at home but spreads anti-Americanism abroad.

Complex foreign policy problems that threaten American security are increasingly seen as “entanglements” best avoided. And there is a convenient view that there are no “good guys” in the power struggles now unfolding in the post-Arab-Spring Middle East.

The potential lesson of the bruising political battle over Benghazi is simple: Take few risks, turn embassies into bunkers and avoid political firestorms at home. In her testimony, Mrs. Clinton passionately argued against that approach.

Declaring Somalia and Colombia success stories, she said the United States could counter militancy in Africa and the Middle East by working with regional organizations and training local security forces. U.S. funding and training of an African Union Mission in Somalia, or AMISOM, Mrs. Clinton said, had slowly succeeded in driving back al-Shabaab and other Islamist forces. In Colombia, the government has driven back FARC rebels and narco-traffickers.

There have been setbacks and the efforts in both countries are imperfect. But local security forces trained and funded by the international community slowly gained ground in painstaking efforts over many years.

“What we have to do is recognize that we’re in for a long-term struggle here,” Mrs. Clinton said at the hearing. “And that means we’ve got to pay attention to places that historically we have not chosen to or had to.”

During their heated exchange, Mr. McCain criticized Mrs. Clinton and the Obama administration for not doing enough to train Libya’s security forces. Secretary Clinton replied that House Republicans had put a hold on the funding the administration requested to train Libyans.

“If this is a priority and we are serious about trying to help this government stand up security forces,” she said, “then we have to work together.”

Mrs. Clinton is right. And so is Mr. McCain. Congressional politicking hinders the State Department. And the State Department executed terribly in Benghazi. But Mrs. Clinton, who I have criticized in the past, won the day.

“We are in a new reality,” she said, referring to the change sweeping across the Middle East. “We are trying to makes sense of events that nobody had predicted but that we’re going to have to live with.”

Mrs. Clinton called for the United States to show “humility” abroad and stop making national security issues “political footballs” at home. She said a Cold War style bipartisan agreement should be reached to launch a long-term American effort to strengthen local security forces and promote democracy across Africa and the post-Arab-Spring Middle East.

“Let’s be smart and learn from what we’ve done in the past,” she said. “Put forth a policy that wouldn’t go lurching from administration to administration but would be a steady one.”

“We have more assets than anyone in the world,” Mrs. Clinton added, “but I think we’ve gotten a little bit off track in trying to figure out how best to utilize them.”

A “little bit off track” is a euphemism for partisanship endangering national security. If the U.S. doesn’t get its act together, expect more Benghazis.

Read More..

Exxon passes Apple as most valuable company






NEW YORK (AP) — Exxon has once again surpassed Apple as the world’s most valuable company after the iPhone and iPad maker saw its stock price falter.


Apple Inc.’s stock has been on the decline since the company’s quarterly earnings report Wednesday suggested that its fast growth phase, rare for a company of its size, may be coming to an end.






Apple‘s stock fell 2.4 percent to close Friday at $ 439.88 for a market capitalization of $ 413 billion. That followed a 12 percent drop on Thursday, the biggest one-day percentage drop for the company since 2008.


Exxon Mobil Corp. gained 38 cents Friday to $ 91.73 for a market capitalization of $ 418 billion.


Apple first surpassed Exxon in the summer of 2011, displacing the oil company from a perch it had held since 2005. The two companies traded places through that fall, until Apple surpassed Exxon for good in early 2012 — at least until Friday.


China’s largest oil company, PetroChina, could lay claim to having hit a market capitalization even higher than either Exxon‘s or Apple‘s, but only based on prices on the Shanghai stock exchange, which is isolated from the rest of the financial world because of Chinese laws on foreign investment. PetroChina’s shares also trade in Hong Kong and on the New York Stock Exchange. Based on prices there, its market capitalization never went as high as $ 500 billion.


Apple and Exxon are among only a half dozen U.S. companies to have ever reached $ 500 billion in market value. Apple and Microsoft Corp. are the only ones to have ever hit $ 600 billion.


Apple‘s stock price peaked in September at $ 705.07 on the day the iPhone 5 was released. Exxon, in the meantime, has been trading steady. Its business — oil — seems less prone to stock market ups and downs than the Cupertino, Calif.-based tech darling.


Exxon, which is based in Irving, Texas, set a record in 2008 for the highest quarterly earnings by any company. In the first nine months of 2012, Exxon earned nearly $ 35 billion, or 10 percent more than the same period in 2011, on revenue of $ 367 billion. Results for the fourth quarter are due Feb. 1.


Exxon, the biggest investor-owned energy company in the world, predicted in December that oil will continue to be the most important source of energy. That’s because cars, trucks, airplanes, trains and ships will still depend heavily on oil-derived fuels such as gasoline and diesel.


This year, investors seem unforgiving with Apple, looking for perfection and punishing the stock for anything less. The company’s stock price slipped below $ 500 for the first time last week, as investors saw signs that the iPhone 5 was falling behind competition from phones running Google’s Android software, especially those from Samsung Electronics Co.


The latest quarterly report added to the concerns. Apple warned that its revenue growth, which had been running at a speed more reminiscent of promising startups than multi-national corporations, is slowing down considerably.


A big reason: It has been nearly three years since a new product has come from a company still seen as the embodiment of innovation. That last product, the iPad, came in 2010, when its CEO Steve Jobs was still alive. Some analysts question whether Apple can keep growing by just releasing new versions of its old products. The long-rumored Apple TV, is still just that, a rumor.


Gadgets News Headlines – Yahoo! News





Title Post: Exxon passes Apple as most valuable company
Url Post: http://www.news.fluser.com/exxon-passes-apple-as-most-valuable-company/
Link To Post : Exxon passes Apple as most valuable company
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..