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GOOGLE BUYS DRONE MAKER TITAN AEROSPACE

Tuesday, 15 April 2014 05:43 Published in National News

NEW YORK (AP) -- Google has bought Titan Aerospace, a maker of solar-powered drones, saying it could help bring Internet access to remote parts of the world as well as solve other problems.

Financial terms were not disclosed. Google Inc. said Monday that atmospheric satellites could also be used in disaster relief and assessing environmental damage.

Titan's atmospheric satellites, which are still in development and not yet commercially available, can stay in the air for as long as five years, according to reports. Before it was updated Monday to reflect the acquisition, Titan's website cited a wide range of uses for the drones, including atmospheric and weather monitoring, disaster response and voice and data communications.

Facebook Inc. was also in talks to buy New Mexico-based Titan earlier this year, but it acquired U.K.-based solar drone company Ascenta instead, hiring "key members of the team," as CEO Mark Zuckerberg put it, to work at Facebook.

Both Google and Facebook have launched ambitious projects that aim to get everyone on the planet online. Google's Project Loon sends giant balloons bearing Internet-beaming antennas into the stratosphere. Facebook, meanwhile, leads Internet.org, a coalition of companies that wants to get everyone in the world access to basic Internet service. Its Connectivity Lab, which is part of the Internet.org effort, is researching different technologies that aim to make the Internet accessible and affordable to everyone.

Zuckerberg said late last month that Facebook is working on building its first high-altitude drone to broadcast Internet signals.

"With the efficiency and endurance of high altitude drones, it's even possible that aircraft could remain aloft for months or years," Zuckerberg wrote in an online post on March 28. "This means drones have more endurance than balloons, while also being able to have their location precisely controlled."

© 2014 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED. Learn more about ourPRIVACY POLICY and TERMS OF USE.

Sentencing Scheduled for Illinois Double Murderer

Tuesday, 15 April 2014 08:41 Published in Local News
EDWARDSVILLE, Ill. (AP) - A southern Illinois man is set to be sentenced after he was convicted of first-degree murder last month for the deaths of a pregnant woman and a 4-year-old child.
 
The Belleville News-Democrat reports 57-year-old Kevin Reid's sentencing hearing was scheduled for Tuesday afternoon in Madison County.
 
Reid was found guilty last month in the 2005 deaths of 19-year-old Anquiaette Parker and her four-year-old cousin, Cermen Toney Jr.   Parker was pregnant and had been babysitting Toney when the two disappeared.
 
Authorities say Reid then hid their bodies in a cistern near his home. Their bodies were found in 2008 by a crew clearing brush in the area.

US CONSUMER PRICES ROSE JUST 0.2 PERCENT IN MARCH

Tuesday, 15 April 2014 06:41 Published in National News

WASHINGTON (AP) -- Lower U.S. gasoline prices kept consumer inflation in check last month, helping offset higher costs for food and clothing.

The Labor Department said Tuesday that the consumer price index rose 0.2 percent in March, after scant 0.1 percent increases the previous two months. Prices have risen just 1.5 percent year over year. That remains well below the Federal Reserve's 2 percent target for inflation.

Excluding the volatile food and energy categories, core prices increased 0.2 percent in March and 1.7 percent in the past year.

Prices at the gas pump tumbled 1.7 percent in March, lowering costs for the entire energy category.

But food prices jumped 0.4 percent, led by increases in eggs, milk, butter, oranges, pork chops, ground beef and poultry. Prices for clothing, used cars and cable television also rose.

Overall, signs point to continued low inflation. Sluggish growth and a tough job market have limited price increases, making it harder for retailers and other businesses to charge more.

Consumer prices rose just 1.5 percent for all of 2013, down from 1.8 percent in 2012.

Though shoppers welcome lower prices, super-low inflation can stall economic growth. Lower prices encourage consumers to delay purchases. Extremely low inflation can also raise inflation-adjusted interest rates, thereby discouraging borrowing.

Still, low inflation has enabled the Fed to pursue extraordinary stimulus programs to try to boost economic growth.

The Fed is now trying to unwind some of that stimulus. It plans to buy $55 billion in bonds this month, down from $85 billion in March of last year. The bond purchases are intended to lower long-term rates, which can spur borrowing and spending.

Despite scaling back its purchases, Fed officials have expressed concern about inflation running below their target. As a result, the Fed is prepared to hold shorter-term rates near zero even if unemployment falls by roughly a percentage point from its current level of 6.7 percent. This suggests that the Fed might not raise rates until the middle of 2015.

© 2014 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED. Learn more about ourPRIVACY POLICY and TERMS OF USE.

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