CFTC Relaxed Forex Leverage Rules

The Commodity Futures Trading Commission (CFTC) scrapped a proposal to reduce the amount of borrowed funds that currency traders can use to trade forex contracts to 10-to-1.

In retail forex market people can open an account with any of the forex brokers and invest on speculation of price movements of one currency agaist another. The use of leverage allows the traders to speculate on mutiple times the actual deposit to greatly increase profits, but this can also result in magnified losses. At present the existing allowed leverage is 100-to-1 for major currencies. That means you could invest $5000 in your forex account and trade a notional amount of $500,000. This was also a cause of many forex scams and the CFTC proposal was to reduce this to 10:1 leverage.

However the CFTC proposal was opposed by most of the forex brokerage firms as well as traders. The reaction resulted in massive number of comments and feeback. As a result the CFTC scrapped the earlier proposal and decided to go ahead with a new rules where the firms can’t offer a ratio of more than 50-to-1 for major currencies or 20-to-1 leverage for the more exotic variety.
The new rule seems to be a more balanced option to give traders enough opportunity to gain profits yet protect them from fraud.

Accroding to the CFTC Commissioner Bart Chilton the final rule represents a compromise on the leverage issue. On Tuesday he said, “I think we did a good balancing act in the final rule,” he said. “It protects investors from fraud and abuse yet allows legitimate business activity to continue.”

The new proposal should be a happy new for traders, brokers as well as those who are releasing new forex tools (see Forex Bulletproof ) especially because forex market is booming. Wall Street Journal reported that during April the foreign exchange market hit the average turnover of $4 Trillion on a single day.

Lessons on Entrepreneurship from Warren Buffett

Warren BuffettImportant Lessons on Entrepreneurship from Warren Buffett

In 2008, Forbes named Warren Buffett as the world’s richest man with his fortune estimated at $62 billion. At 15 years old, he purchased his very first pinball machine and his good fortune began there. He was known to have invested in the stock market and buying different companies; thus making himself very well known in the investment world. Despite it all, Warren Buffett remained a well-grounded man. He found no reason to forget his humble beginnings and this made him truly respectable in the field of entrepreneurship; and he imparted twelve life lessons that people can draw some inspiration from.

12 Life Lessons from Warren Buffett

Embrace your talent. The world is ever changing; and these changes will bring about so many obstacles not only to the world but also to your life. Economies will go through years of suffering and it will recover in time; through that bout, your saving grace will be your talent and your passion. You should be able to find a way to channel your inner talent, especially during the hard times. You can easily make use of your talent to open doors for; therefore embrace it and do not be afraid to use it.

The end does not justify the means. Many are blinded by their hunger for money, success and power. A lot of people are too blinded by their hunger that they are willing to break the rules and hurt people in the process. They compromise relationships for their eventual gain, thinking that money is the only thing that matters in the world — but that is not true. The end does not justify the means; you cannot celebrate success if it is obtained in a very dishonest way. Do not destroy yourself in your journey towards success; the easy way is not always the right path.

Live life with passion. Passion is the purest form of motivation and no one can steal this away from you. If you follow your passion and you do things that you most passionate about, you will realize that everything will naturally fall into place.

Do not expect the world to grant favors for you. It is different to put your hopes on yourself and to set your hopes up, expecting the world to give you everything you need. Set your expectations to a lower level, so you will be constantly surprised. Do not be unrealistic about your hopes and keep things simple.

Offer things that your customers need. There are so many things that you can sell, so many services that you can offer to the people, but not all of them are exactly right for them. Know the people who you wish to deal with and find out what they need. Do not offer something that you do not believe in, yourself, because it will hurt you in the future. As an entrepreneur, your priority is to provide service to the people around you.

Open yourself to learning new things. There is no better way to improve your situation but to constantly live life moving forward, and attaining to learn new things all the time. Treat the day before, as a learning experience, and wake up tomorrow smarter than you are now.

Never trade your reputation for money. At any point in your life, you will face failures. Losing a lot of money can be downright frustrating, but at the end of the day, it is nothing. Money can easily be earned again and you can step back up. A good reputation, on the other hand, is harder to regain once you have stained it; therefore never trade your reputation just be able to acquire a big fortune. In the end, the reputation that you have established for yourself will be the one thing that will see you through it all; so treasure it.

Do not be afraid to be different. Nothing is wrong with wanting to be yourself; and doing things your way. Just because the rest of the world does not approve of what you do, does not mean that you should start worrying. Staying on the less road traveled, as a matter of fact, gives you more room to shine. Give yourself a chance to explore things on your own and open yourself for some excitement.

Be in competition with yourself. It is nice to be competent because it will drive you to do better, but it can sometimes be unhealthy to focus your attention on keeping up with what your competitors are doing. Instead, be in competition with yourself and train yourself to keep your pace up, all the time. The truth is, it does not really matter what the other people do or think, as long as you are in control of what you are doing.

Anticipate failures. No one can predict the future but you can assume that failures and mistakes are inevitable. When you are drawing out plans for yourself; try to list the things that can go wrong and think about ways to deal with it. Although it may be truly impossible to predict the future, you can easily cushion your fall by preparing for the pain to come.

Do not be afraid to leave your comfort zone. Take risks. Do not be afraid to let go and to go forward because doing that will only limit your chances of succeeding. There is so much outside that you can experience, but you need to first be prepared to take the challenge on. You may make mistakes, and things can always go wrong, but your courage will be rewarded in tenfold. If you make mistakes, treat them as learning experiences and endeavor to stay away from it in the future.

Find your own path. Do not let others dictate your actions for you. Define what is right and wrong and do not let others influence you. You can easily find your own path to success; you do not need to follow the crowd to be able to get there.

Success is sweet and everyone who starts something on their own wishes to achieve success for themselves. Warren Buffett was a simple man who began to dream without realizing that his dreams can come true. Do not be afraid to join the race and take things one step at a time. There is so much that you can do, but first of all, you need to be able to prepare yourself for it.

Gorilla Glass

New York: – Gorilla glass an ultra strong glass that was invested in 1962 is gaining fast popularity.
Gorilla glass which could not find a commercial use has finally picked up, as stylish HDTV models and touch-screen devices are spreading among consumers. And as a result the 1962 Gorilla glass on the brink to become a multibillion-dollar business for the 159-year-old glass pioneer Corning Inc.

Glass
Gorilla demonstrated early promise in the 1960s, but failed to find a business use, and hence was waiting for its time in a hilltop research lab for nearly a half-century. Gorilla Glass picked up its first client in the year 2008 and has swiftly become a $160 million a year business as a shielding layer over the screens of more than 35 million mobile phones and other mobile equipments.

What makes the Gorilla Glass looks promising is the latest trend in HDTVs which is Frameless flat-screens. Since Gorilla glass is very tough to break or scratch, the company is expecting that it will be the glass of choice as HDTV-set producers when the TV manufacturers starts eliminating the plastic and metallic frames for a stylish chic-look.
According to company scientists Gorilla glass is two to three times stronger than chemically strengthened versions of ordinary soda-lime glass, even when just half as thick. This means TV manufacturers can make flat screen panels with Gorilla glass thinner than a dime, saving on weight and shipping costs.

Corning Inc which is based in New York, is the world’s largest manufacturer of glass for liquid-crystal-display computers and TVs. High-margin LCD glass generated the bulk of Corning’s $5.4 billion in 2009 sales. By ramping up production volume rapidly in a growing market, Corning is following a well-worn tactic intended to keep rivals from gaining ground. Corning is in talks with Asian HD TV manufacturers to get Gorilla to the Television market in 2011 and expects to reach its first deal soon.

Salt Angelina Jolie

Watch SALT Movie Trailer: Angelina Jolie in SALT

SALT Movie TrailerAngelina Jolie’s action thriller SALT is realesing today 23 July, 2010.

SALT Story:
Angelina Jolie stars as Evelyn Salt a CIA Officer swore an oath to duty, honor and her country. Salt is accused of being a Russian spy by a defector, her loyalty is tested. Salt wants to prove her innocence and goes on the run. But when tries to prove her innocence using all her skills and years of experience as a covert operative it creates more doubt on her motives…
Who is Evelyn Salt? Is she really a Russian spy?

The movie Salt is brought to you by Columbia Pictures and expected to be a hit especially at the wake of recent crack down on Russian spies in United States.

Emergency Jobless Benefits Extended

The United States government decided to extend the emergency jobless benefits for the long-term unemployed for another six months.
On Thursday President Obama signed a six-month extension, restoring aid to almost 3 million citizens whose payment have been cut off since the emergency unemployment benefits program expired in early June. Barely three hours after the House approved the $34 billion measure President Obama approved the extension.
Small businesses are the engine of job growth, and measures to cut their taxes and make lending available should not be held hostage to partisan tactics like those that unconscionably held up unemployment insurance,” President Obama said.

Lindsay Lohan Reports to Jail

Actress Lindsay LohanHollywood actress Lindsay Lohan reported to jail.
On Tuesday, July 20 Lindsay Lohan behagn serving the jail term for the second time in her 24 years. Her time behind the bars for probation violation that underlined the starlet’s inability to put a 2007 drug case may be reduced from 90 days to 14 days.
Lindsay Lohan’s father Michael Lohan, and his attorney Lisa Bloom says that the move to reduce the jail term is due to overcrowding in Los Angeles prisons and not because the actress is getting any special celebrity treatment.

Nokia Siemens Aquires Motorola

Nokia Siemens will pay more than a Billion to aquire Motorola wireless network. In statement the company said on Monday that Nokia Siemens and Motorola reached in an agreement of US$1.2 billion.

Nokia Siemens and Motorola
Nokia Siemens will acquire manufacturing operations of Motorola for all the major wireless systems, including GSM, CDMA, WCDMA, WiMax and LTE. However Motorola wireless network will hold its wireless patent portfolio and to its iDEN trunked wireless system, used by U.S. operator Sprint Nextel. As a part of the deal more than 7400 employees from Motorola will join Nokia Siemens Networks.

Nokia Siemens and Motorola expects that the deal will be completed by the end of this year.

Google Acquired Metaweb

The internet giant, Google acquired Metaweb in an effort to improve their search results. In a statement released on the official google blog, the Director of Product Management, Jack Menzel said that Google “acquired Metaweb, a company that maintains an open database of things in the world“. According to Jack Menzel, by working together with Metaweb Google wants to improve search results and make the internet richer and more meaningful for all users.

Metaweb Metaweb confirmed the news by adding an image link to the google blog post. But the graphics looks horrible. Some one with basic photo editing skills whould able to produce a better image and match with the background color. It makes me wonder if there are any graphic designer working for Metaweb. Nevertheless, Google decided to buy Metaweb.

Spain World Champions

Soccer City, South Africa: Spain won the FIFA Soccer World Cup 2010. Spain the European Champions lifted the World Cup with a 1-0 victory over Netherlands in the final match played at Soccer City Johannesburg.
Spain World Cup Soccer
The goal of the match was scored by midfielder Andres Iniesta. The winning goal came at 116th-minute in the match which moved to extra time after both teams failed to score in the regular time.

Spain was in control of the match at most part though they failed to score. Still, Robben’s pace was a persistent threat to the Spaniards and he almost scored in 82nd minute. Xavi and Iniesta played well, but they failed to score in regular time. Spain coach Del Bosque replaced David Villa with Fernando Torres during the extra time and minutes later Iniesta produced the winning goal.

Lindsay Lohan Sent to Jail After Probation Snafu

A judge sentenced the actress to 90 days, citing Lohan’s failure to attend court-ordered alcohol education classes after a 2007 drug arrest. Lohan, who has been wearing an alcohol-monitoring ankle bracelet, must turn herself in by July 20 to begin serving the time.

The Judge compared Lindsay Lohan’s apology to “somebody who cheats and thinks it isn’t cheating if she doesn’t get caught.”

It wasn’t clear how much time Lindsay Lohan will actually spend in jail. Los Angeles Sheriff’s Department spokesman Steve Whitmore commented that female inmates convicted of nonviolent misdemeanors serve about a quarter of their sentence but that could be further reduced by state credits.