Too soon to say 'mission accomplished' in Kobani

WASHINGTON (Reuters) - Kurdish fighters' expulsion of Islamic State forces from the Syrian town of Kobani helped stop the momentum of the Islamist group but is not a significant turning point in the overall campaign, a senior State Department official said on Tuesday.

The setback for Islamic State in the war-ravaged town near the Turkish border did not mean "anyone is declaring mission accomplished" in the international campaign against the group, that has taken over parts of Syria and Iraq, the official said.

U.S. air strikes in liaison with Kurdish ground troops and Iraqi Kurd reinforcements allowed in from Turkey tipped the battle the Kurds' way, and the Islamic State's appetite for the fight had been undermined by heavy death tolls.

"About 90 percent of the town has been retaken and ISIL, whether on order or the fact that they are just breaking ranks, are withdrawing from the town," the official told reporters, employing a frequently used acronym for the al Qaeda offshoot.

"The entire notion of this organization that is on the march and the inevitable expansion and inevitable momentum has been halted at Kobani," added the official, speaking on condition of anonymity.

"The number of foreign fighters killed in Kobani is hugely significant," the official said, adding it was "in the four figures."

The militants had launched an assault on Kobani in September using heavy weapons seized in Iraq and forcing tens of thousands of people over the border into Turkey.

The official said some of Islamic State's best foreign fighters from Chechnya, Canada, Australia and Belgium made up the majority of militants fighting for the city, which became a focal point in the campaign in northern Syria.

By November they were struggling to hold the town.

CRITICAL DECISIONS

Two critical actions in late September appear to have prevented Kobani from falling completely - a U.S. airdrop of arms to the Kurdish defenders and an agreement by Turkey to let Iraqi Kurdish reinforcements cross the border.

"Had we not done those two things, Kobani would've been gone, and you would've seen another massacre," the official said.

The official said the biggest advances on the battlefield came once a land corridor opened from Turkey to Kobani allowing supplies to reach Kurdish fighters, backed by U.S. air strikes.

Also addressing Kobani on Tuesday, Rear Admiral John Kirby, the Pentagon press secretary, said: "I think the air strikes helped a lot. It helped when we had ... a reliable partner on the ground in there who could help us fine-tune those strikes."

Over the past six weeks Western foreign fighters stationed at Raqqa, the movement's stronghold in Syria, had refused to fight in Kobani after many of their colleagues were killed, the State Department official said.

Forex - Australian dollar gains as underlying CPI higher than expected

Investing.com - The Australian dollar gained in the wake of mild inflation data as underlying prices dashed expectations for a near-term rate cut.

AUD/USD traded at 0.7981, up 0.57%, while USD/JPY changed hands at 118.14, up 0.25%. EUR/USD edged down to 1.1335, down 0.39%. The single currency hit 11-year lows against the dollar on Monday in the wake of a sweeping election victory for the anti-austerity Syriza party in Greece.

Australia said fourth quarter CPI rose 0.2% quarter-on-quarter and 1.7% year-on-year, below expectations of up 0.3% and up 1.8% respectively and well below the Reserve Bank of Australia's 2% to 3% inflation target.

But underlying inflation - the most important number watched by the market and the Reserve Bank - was more than expected at a gain of 0.7% and is likely to cool expectations for a near-term cash-rate cut.

Earlier the Westpac-MI published its leading index for December, which was unchanged at 97.89, breaking a pattern of sub-trend growth heading into 2015.

Overnight, the dollar extended losses against the other major currencies on Tuesday, after the release of mixed U.S. economic reports, as investors turned their attention to the Federal Reserve's upcoming policy statement on Wednesday.

The Conference Board said its index of U.S. consumer confidence improved to an eight-year high of 102.9 this month from a reading of 93.1 in December, whose figure was revised up from a previously reported 92.6.

Analysts expected the index to increase to 95.1 in January.

Separately, the U.S. Commerce Department reported that new home sales climbed by 11.6% to 481,000 units last month, above expectations for 450,000. New home sales in November were revised down to 431,000 units from a previously reported 438,000 units.

Data released earlier in the day showed that total U.S. durable goods orders dropped 3.4% last month, compared to expectations for a gain of 0.5%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.31% to 94.56.

EUR/USD: Euro Moves Higher, Fed's Statement Likely To Impact

The euro continues to post gains on Tuesday, as EUR/USD trades just above the 1.13 line in the European session. On the release front, there are no eurozone economic reports. EU finance ministers will meet in Brussels later in the day. It’s a busy day in the US, with three key events on the calendar – Core Durable Goods Orders, CB Consumer Confidence and New Home Sales.

Greece remains the focus of the markets as voters gave a sweeping mandate to the far-left Syriza party. Syriza ran on a platform of ending the crushing austerity scheme which Greeks have endured as part of the €240 billion bailout negotiated between the EU, ECB and IMF. Predictably, the euro fell immediately after the election results, slipping to the 1.11 line. However, the common currency has recovered nicely, gaining about 100 points on Monday and continuing to move upwards on Tuesday.

Syriza’s win certainly throws a monkey wrench into the Greek bailout program, but the new Greek government is likely to negotiate a deal with Greece’s creditors. A Greek exit from the eurozone may make for interesting headlines, but such a scenario is extremely unlikely. Indeed, Greek Prime Minister-elect Alexis Tsipras has promised to keep Greece in the eurozone. Still, there remains plenty of uncertainty as to what will happen with the bailout plan, so traders can expect events in Athens to have a strong impact on the movement of the euro.

The Federal Reserve starts a two-day meeting on Tuesday and will release a policy statement on Wednesday. The Fed is expected to continue to counsel patience regarding an interest rate hike, and persistently weak inflation means the Fed can take its time before having to make a monetary move. The markets will be combing through the statement and searching for any clues as to the timing of a rate hike. This could have a strong effect on the movement of EUR/USD.

EUR/USD for Tuesday, January 27, 2015

How to Write a Market Analysis?

The market analysis is one of the most important parts of any startup strategy. Do it right, and you will have a clear idea of the path down which you are headed. A good market analysis will enable you to lure investors, sidestep pitfalls, and most importantly, attract customers.

Bear in mind that all businesses starting out are different, and they may be creating business plans and strategies for different reasons or audiences. If your business is quite small and you know your customers inside and out, this may not be the best use of your time. If this is an internal plan, and there isn’t a need for industry data to corroborate your forecast, a market analysis may not be necessary. Be sure to assess the value of this information for your business, and act accordingly.

If you are seeking funding, market analysis is going to be key data to convince your audience that your business idea has the facts and hard numbers to back it up. With that said, let’s explore the details of writing a market analysis.

What is a Market Analysis?

Market analysis is anything but empty lingo. It’s really exactly what it sounds like: determining the characteristics unique to your particular market and analyzing this information, which will help you make decisions for your business. By conducting a market analysis, you will be able to gather valuable data that will help you get to know your customers, determine appropriate pricing, and figure out your competitors’ vulnerabilities.

Market Analysis And Your Business Plan

It’s smart to write a business plan, especially if you are beginning a new business venture. Even if you’re a sole proprietor or don’t intend to borrow any money to get your business off the ground, it’s important to have a clear plan in place. The market analysis isn’t just one part of a successful business plan—it’s one of the best reasons to write one.

If you do need banks to lend you money or investors to jump on board, a market analysis section is required, as savvy lenders or investors will need to know that the business you’re pitching has viable market appeal. Either way, a solid business plan complete with market analysis will be invaluable. You’ll need to identify your potential customers and attract investors, and it will help you to be clear about what you want to do with your business, both now and in the future. The time you spend doing the research and putting it all together will come back to you many times over in dollars earned and heartbreaks avoided. You’ll look like a professional, and you’ll outshine the competitors that didn’t write one.

A market analysis can be a measuring stick you use over time to see how far you’ve come, and it allows you to make projections based on data rather than guesswork. Because you’ll know the size of the mountain you’re about to climb, you’ll be able to pace yourself and prevent problems in the future.

What to Include in Your Market Analysis

Your market analysis should include an overview of your industry, a look at your target market, an analysis of your competition, your own projections for your business, and any regulations you’ll need to comply with.

Industry description and outlook

This is where you’ll discuss the current state of your industry overall and where it’s headed. Relevant industry metrics like size, trends, life cycle, and projected growth should all be included here. This will let banks or investors see that you know what you’re doing, and have done your homework and come come prepared with the data to back up your business idea.

Target market

In the previous section of your market analysis, you were able to look at the general scope. In this section, you’ve got to be specific. It’s important to establish a clear idea of your target market early on. A lot of new entrepreneurs make the rookie mistake of thinking that everyone is their potential market.  To put it simply, they’re not.

This is a good thing—by narrowing in on your real customers, you’ll be able to direct your marketing dollars efficiently while attracting loyal customers who will spread the word about your business. The target market section of your business plan should include the following:

• User Persona and Characteristics: You’ll want to include demographics such as age, income, and location here. You’ll also need to dial into your customers’ psychographics as well. You should know what their interests and buying habits are, as well as be able to explain why you’re in the best position to meet their needs.
• Market size: This is where you want to get real, both with the potential readers of your business plan and with yourself. Do your research and find out who and where your competitors are, and how much your customers spend annually on your product or service. How big is the potential market for your business?

Competitive analysis

This is the section in which you get to dissect your competitors, which is important for a couple of reasons. Obviously, it’s a good idea to know what you’re up against, but it also lets you spot the competition’s weaknesses. Are there customers out there being underserved? What can you offer that similar businesses aren’t offering? The competitive analysis should contain the following components:

• Market: How big is the market for goods and services similar to what you plan on offering? What’s the growth rate? Include the general outlook and trends for this market. Who are your main competitors? Are there any secondary competitors who could impact your business?
• Competitor strengths and weaknesses: What is your competition good at? Where do they fall behind? Get imaginative to spot opportunities to excel where others are falling short.

• The importance of your target market to competitors: Ideally, you’re going after customers whose needs aren’t being met by your competitors.

• Barriers to entry: What are the potential pitfalls of entering your particular market? What’s the cost of entry—is it prohibitively high, or can anyone enter your market? This is where you examine your weaknesses. Be honest, with investors and yourself. Being unrealistic is not going to make you look good.
• Window of opportunity: Does your entry into the market rely on time-sensitive technology? Do you need to get in early to take advantage of an emerging market?

Projections

• Market share: When you know how much money your future customers spend, you’ll know how much of the market you have a chance to grab. Be practical, but don’t sell yourself short. Make sure you are able to explain how you came up with your numbers.
• Pricing and gross margin: This is where you’ll lay out your pricing structure and discuss any discounts you plan to offer. Your gross margin is the difference between your cost and the sales price. Again, be realistic yet optimistic. Optimistic projections not only serve as a guide, they can be a motivator.

Regulations

Are there any specific governmental regulations or restrictions on your market? If so, you’ll need to bring them up here and discuss how you’re going to comply with them. You will also need to address the cost of compliance. Addressing these issues is essential if you are seeking investment or money from a lender, and everything has to be legally squared away and above board.

How to Acquire The Data For Your Market Analysis

Market analyses vary from industry to industry and company to company. The hard truth is that some of the information you wish to include may not be publicly available. A little estimation is okay, but the bulk of your numbers need to be based on facts. Here are some good places to start your market research:

• Your current customers: If your business is already up and running, your current customers are an invaluable resource. They are your existing market. You can use online surveys or social media to gather feedback about buying habits, needs, and other psychographic information.
• U.S. Census Bureau: Here’s where you’ll find demographics you can use to figure out your market share. There is plenty of other information you can use in your market analysis here as well.
• Business.gov: The go-to place for national industry information, as well as links for state and local resources.
• U.S. Small Business Administration: The SBA offers industry guides, development programs, and local resources, as well as loan guarantees when the time comes.
• Bureau of Labor Statistics: The BLS is the place to find out where your industry has been and where it is headed.
• Commerce.gov: The U.S. Department of Commerce has a lot of good general information that you may be able to use, depending on your industry.
• Internet: You can do internet searches to find information about any state or local regulations or licenses you may need for your industry. As always, there’s a lot of stuff out there, so make sure you’re depending on reliable sources. For your market analysis, Wikipedia won’t cut it. On the other hand, you can find plenty of useful information, including sample business plans right here on Bplans, where you can also obtain free industry reports as well.

'Interstellar' Science: Is Wormhole Travel Possible?

Sci-fi fans who hope humanity can one day zoom to distant corners of the universe via wormholes, as astronauts do in the recent film "Interstellar," shouldn't hold their breath.

Wormholes are theoretical tunnels through the fabric of space-time that could potentially allow rapid travel between widely separated points — from one galaxy to another, for example, as depicted in Christopher Nolan's "Interstellar," which opened in theaters around the world earlier this month.

While wormholes are possible according to Einstein's theory of general relativity, such exotic voyages will likely remain in the realm of science fiction, said renowned astrophysicist Kip Thorne of the California Institute of Technology in Pasadena, who served as an adviser and executive producer on "Interstellar." 

Malaysian ban on Gala, Granny Smith apples causes confusion

KUALA LUMPUR: Malaysia has banned the imports of two types of apples from California after it received notice from US authorities that the produce may be tainted with the Listerosis bacteria.

But many Malaysian consumers have trouble differentiating the many types of apple on sale. Also worrying, the sellers too have little idea where the fruits come from.

According to US media reports, two strains of bacteria that cause Listeriosis have been found in apples from the Bidart Brothers plant in California. The last shipment of the affected apples was on Dec 2.

The affected produce was sold under the names Big Big and Granny's Best, but the company says they could also be sold under other brand names or with no name at all. Authorities have seized almost 20,000 apples from the east Malaysian state of Sarawak.

Consumers have been advised to ask fruit sellers where their apples are from. Gala and Granny Smith are among the most popular brands of red and green apples on sale in Malaysia. They can be found in supermarkets, and most wet markets – but unlike in supermarkets where fruits are labelled, it is hard to be sure of the brands when they are purchased from the latter.

"I have asked those who import from (the Bidart Brothers plant) not to import from them and not to distribute the products," said Malaysian Health Minister Dr S Subramaniam. " As for those (apples) in the (wet) market, it's a very hard question for me to answer. I think if people want to avoid them, as a precautionary measure, they can do so for the time being"

A fruit seller said: "Some apples like Royal Gala have stickers. Some countries have label stickers on every piece, others don't; they put it on their boxes, but if customers ask us, whether they are regular or not, we will tell them that our apples are not the affected ones from the United States."

The Malaysian health ministry meanwhile has said that Listeriosis is not dangerous. It causes high fever, severe headache and nausea, and can be treated in most cases with antibiotics. However, high-risk groups like the elderly, pregnant women and babies need to be watchful.

While new imports are banned, random tests are being conducted on green and red Californian apples that are already in local markets. Results will be known in a few days. 

Royal Gala, Granny Smith apples recalled over listeria concern

HALIFAX — The Canadian Food Inspection Agency is issuing a recall of two types of apples due to possible listeria contamination.

It is recalling Granny Smith and Gala apples exported by Bidart Bros. in the United States and sold under the Big B and Granny’s Best brands.

The apples were imported by Beauvais Ltee., Courchesne Larose and Coosemans Montreal Inc., and distributed in Newfoundland and Labrador, Nova Scotia, Ontario and Quebec.

The agency says the recalled apples should be thrown out or returned to the store where they were bought.

The recall was prompted by a recall from the American producer and may be related to an outbreak of a food-borne illness.

The agency is doing a food safety investigation, which it says may lead to the recall of other products.

Food contaminated with listeria may not look or smell spoiled, but can cause vomiting, nausea, fever, severe headache and neck stiffness.