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Stock futures up on report IMF may boost Europe funding

– Stock index futures rose on Wednesday, putting the S&P 500 on track for a second straight advance after sources said the International Monetary Fund wants to boost its lending facility as the euro zone battles a long-running debt crisis.

* Sources told Reuters the IMF needs to raise up to $600 billion in new funds to lend to countries struggling with the fallout from the debt crisis.

* Greece was set to meet with creditors in the latest attempt to snap a deadlock in negotiations to slash the country’s debt and prevent a default.

* “There is no question the market seems to be decoupling itself from the euro news but Europe also seems to be stabilizing as we see the market is beginning to focus on the economic news and of course, earnings,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

* Goldman Sachs Group Inc reported fourth-quarter results early Wednesday.

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Tags: Boost, Boost Europe

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Clean Energy Makes Big Strides, but Just How Sustainable is the Growth?

Global investment in clean energy capacity expanded by 5 percent in 2011 to $260 billion. The growth comes despite the considerable drag from economic crisis in Europe and weak growth in the U.S.

The new research, compiled by Bloomberg New Energy Finance, was announced yesterday in New York at United Nations headquarters building, site of the Investor Summit on Climate Risk & Energy Solutions.

Up from $247 billion in 2010, last years rise in spending on clean energy capacity offered reasons for optimism along with rising cause for concern. Note that this data includes spending on renewable energy technologies, but not advanced coal, nuclear or conventional big hydro.

The good news: Spending has quintupled in the past seven years, with outlays for solar power leading the expansion — soaring by 36 percent to $137.5 billion during 2011.

And in the global horse race for green energy leadership, the U.S.

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Tags: Clean Energy, Growth

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Olympus sues executives for damages in cover-up

Financially battered Olympus Corp. is suing 19 former and current executives for damages that the Japanese camera and medical equipment maker says it has suffered over a massive cover-up of investment losses.

The lawsuit, filed Sunday by auditors on behalf of the company in Tokyo District Court, targets former CEO Tsuyoshi Kikukawa, current President Shuichi Takayama and 17 other executives that the company says participated in or knew about the fraudulent activity.

The scheme _ which first came to light after former President Michael Woodford blew the whistle _ has raised serious questions about corporate governance in Japan, and whether major companies are complying adequately with global standards.

Olympus said Tuesday the lawsuit follows a report from an investigation by an independent panel that the Tokyo-based company had set up.

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Tags: Damages, Damages Coverup

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Occupy Syracuse to mark 99th day in park with rally Sunday

Occupy Syracuse to mark 99th day in park with rally Sunday Occupy Syracuse protesters Sunday will hold a rally to mark their 99th day in a downtown Syracuse park.

Organizers are holding the rally on the 99th day in honor of the 99 percent of Americans who are not part of the 1 percent nations wealthiest.

The rally will be at 1 p.m. at Perseverance Park, South Salina Street between Washington and Fayette streets.

A general assembly will be held at 3 p.m. There will be music and a potluck meal.

Tags: 99th Day, Mark 99th Day, Rally Sunday, Sunday

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MillerCoors knocks Bud from No. 2 beer spot

Coors Light has been gaining on the King of Beers for years, and analysts began predicting its rise to No. 2 last year. Indeed, Chicago-based MillerCoors was so confident that Chief Marketing Officer Andy England brashly told distributors early last year that “Budweiser is going down, baby.”

Still, Bud has enjoyed improving trends lately, raising some speculation that it might be able to hold off Coors Light at least temporarily. But according to Beer Marketer’s Insights, Bud still finished 2011 down 4.6% in shipments. And while that was the brand’s slowest decline in years, it was still not enough to keep ahead of Coors Light, which gained 0.8%, the publication reported.

In total, Coors Light shipped 18.2 million barrels, while Budweiser ended 2011 at 17.7 million, according to Beer Marketer’s Insights, which is considered the most respected keeper of beer marketshare data.

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Tags: Beer, Bud No

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