Saturday, August 27, 2011
Friday, August 26, 2011
Applied confirms rapidly slowing demand
SAN FRANCISCO (MarketWatch) — Applied Materials Inc., the world’s largest chip equipment maker, threw more fuel onto the fire of investor fears of a double-dip recession Wednesday, confirming comments by other tech giants who have talked about a sudden slowing of demand for their products in the last six weeks.
Applied AMAT +2.13% chief executive Mike Splinter told analysts on a conference call that he is now expecting chip makers to spend $1 billion less on new equipment than the company forecast in July. “We’ve seen demand from our foundry customers soften significantly in the past six weeks,” Splitner said. See Applied news here.
During the month of July, most of the tech companies who reported during the standard quarterly earnings period had decent financial outlooks. But once August rolled around and companies like NetApp NTAP -0.99% gave a weak outlook, investors started to see things were unraveling, even in the hotter corporate computing space.
Wednesday’s comment by Applied, a bellwether of tech, shows how quickly demand appears to be falling and it’s not a good sign for the rest of the economy.
Market Watch
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Glenn Beck vows to continue defending Israel
American commentator Glenn Beck vowed at his "Restoring Courage" rally in Jerusalem on Wednesday to create a new global movement aimed at defending Israel against the hypocrisy of the UN and human rights groups.
Some 1,000 people - mostly American Christians - heard Beck live at the Southern Wall excavation site at the southern end of Jerusalem's Temple Mount. Many more watched his speech on large screens at Jerusalem's City Hall. There were also reportedly viewing parties around the world.
Hoping to inspire Israelis to resist the international community's cynical and dangerous agenda, Beck declared that in the Jewish state "there is more courage in one small square mile than in all of Europe."
Beck highlighted some of the horrible tragedies Israel has faced of late, like the massacre of the Fogel family in northern Samaria, and noted that despite it all, most Israelis do not lose hope.
In light of the incredible hatred Israel faces and the restraint of its responses, Beck said the UN and various human rights groups "are nearly comical in their double standards" toward Israel.
"These organizations have become bullies and grotesque parodies of what they claim to represent," said Beck. "The cause of human rights has been taken over by individuals who share little with those who originally led those movements."
Beck announced that Jerusalem was only the first stop on a new speaking tour and a new movement that will "take back the phrase 'human rights' and put it back where it belongs."
His next stop is South Africa, from where Beck will broadcast his television program and remind people of the horrors of true apartheid, simultaneously exposing the lie that Israel is imposing apartheid on the Palestinians.
From there, Beck will travel through South America before returning to Texas next week for another large-scale rally in defense of Israel.
Beck said he is going through all this effort because he noticed that too many Israelis were starting to believe the lies of the international community, and to believe that they must meet the demands of others in order to be accepted.
"Do not lose hope. Do not lose confidence in yourself. You must have courage. You must have knowledge that God led you to this land and that God is not a stranger to the children of Abraham," Beck said in closing.
Israel Today
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Ahmadinejad: No place for Israel in region
TEHRAN, Iran (AP) — The Iranian president said on Friday there will be no room for Israel in the region after the formation of a Palestinian state, and that once the state is established, the liberation of all Palestinian lands should follow.
The comments by Mahmoud Ahmadinejad reflected his typical anti-Israeli rhetoric, which has drawn international condemnation since he first said in 2005 that Israel should be "wiped off the map."
Ahmadinejad spoke at a Tehran ceremony following nationwide pro-Palestinian rallies marking Quds Day. Quds is the Arabic word for Jerusalem. The annual demonstration is an occasion for Iranian officials to show off their support for Palestinians and condemn archenemy Israel.
The remarks come as the Palestinians are pushing this year to achieve recognition at the United Nations during the General Assembly meeting in September. The statehood bid comes amid stalled Israeli-Palestinian peace negotiations and although the U.N. vote in New York will be largely symbolic, the Palestinians believe it will send a powerful message to Israel.
"Do not assume you will be boosted with a (U.N.) recognition of a Palestinian state," Ahmadinejad said, addressing Israel. "There is no room for you in the region."
"Recognition of a Palestinian state is the first step in the liberation of the entire Palestine," he added.
Since the 1979 Islamic revolution that brought hardline Islamists to power in Tehran, Iran's leadership has been hostile to Israel, backing anti-Israel groups like the Palestinian Hamas and Lebanon's Hezbollah.
Ahmadinejad also urged the West to stop supporting Israel.
"You (the West) and the Zionist regime will have no base in the Middle East," he warned, and dismissed the West's support for a two-state solution as a tactic meant "to save" Israel.
Reiterating his anti-Holocaust rhetoric, Ahmadinejad also said Israel was created on lies and added, "the Zionist regime is the axis of unity among all thieves and criminals of the world."
He also called on rival Palestinian factions Fatah and Hamas to form as strong, unified state and not "consider it sufficient to have minor and weak governments in a small area."
In 2007, the militant Hamas took control of the Gaza Strip, leaving Fatah only in control of the West Bank.
Iran faces increased pressure from the West over its controversial nuclear program that Israel, the United States and others contend is intended for nuclear weapons making. Tehran denies the charge, insisting the program is for peaceful purposes only, such as generating power.
Tens of thousands attended the Quds Day rally in Tehran. State TV said millions of Iranians participated in the rallies in cities and towns across Iran.
Read more: http://www.timesunion.com/news/article/Iran-s-Ahmadinejad-No-place-for-Israel-in-region-2142250.php#ixzz1W9heHeEF
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