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Asian markets down on European discord

 Asian markets down on European discord

HONG KONG: Asian markets mostly fell on Friday as a meeting between the eurozone’s three biggest economies highlighted their differences on finding a solution to the region’s debt crisis.

Traders remained nervous at the end of a week that saw fears over Europe deepen as the yields on Italian and Spanish bonds sat dangerously high and even Germany — the bloc’s pillar — failed to sell all its bonds at auction.

Tokyo was flat, edging down 5.17 points to end at 8,160.01, while Sydney shed 1.48 percent, or 59.90 points, to end at 3,984.3 and Seoul closed 1.04 percent, or 18.66 points, lower at 1,776.40.

Shanghai was 0.60 percent off and Hong Kong fell 1.21 percent in the afternoon.

The leaders of Germany, France and Italy on Thursday met to discuss plans to address the two-year-old debt crisis in a bid to sooth markets, which have been hammered over fears of a collapse of the eurozone and another global downturn. (AFP)

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Darren Clarke hails ‘golden era’ for European golf

Open champion Darren Clarke believes European golf is experiencing another “golden era”.

The 43-year-old won his first major last summer while fellow Northern Irishman Rory McIlroy triumped at the US Open and England’s Luke Donald finished on top of the money lists.

“Golf over here is very strong at the moment,” Clarke said.

“It’s like the sort of dominance we had in the late 80s and early 90s, we’re back to that golden era.”

Nick Faldo, Seve Ballesteros, Ian Woosnam, Bernhard Langer and Jose Maria Olazabal were regulars in the world’s top 10 during that period and, fast forward to 2011, four Europeans occupied the top four spots in the final week of the year.

Donald and McIlroy are joined by England’s Lee Westwood and Germany’s Martin Kaymer, who won the 2010 PGA Championship, in the top four.

“We’re incredibly fortunate,” added Clarke, who ended a 20-year wait to land his first major, at Royal St George’s, last July.
“You look at Rory and the way he’s been playing, and what he did at the US Open.

“And you’ve got Luke, who finished number one in the money list in the United States and Europe. I don’t think that will be done again. What Luke achieved was monumental.”

The Northern Ireland player, who has played in four Ryder Cup-winning teams, and was a victorious vice-captain in 2010, said it was only a matter of time before world number two Westwood would join the elite.

“My good mate is knocking on the door – he’ll win a major, or majors, sooner rather than later,” he added.Another friend Clarke believes will again be challenging for the big prizes is Tiger Woods.

The former world number one and 14-time major winner, who fell as low as 58 in the rankings in November, broke his two-year winless streak by taking the Chevron World Challenge in December. However, Woods is still without a PGA Tour win since November 2009.

“I spoke to him after he won the tournament – he was obviously delighted,” said Clarke, who became an OBE in the New Year Honours list.”The game needs Tiger. You remember the excitement he brought to the game when he first came on the scene.”I’m looking forward to him taking on the likes of Rory, Lee and Luke in 2012. As talented as Tiger is, he won’t be far away from his best.”

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Tablets, e-readers closing book on ink-and-paper era

SAN FRANCISCO: Tablet computers and electronic readers promise to close the book on the ink-and-paper era as they transform the way people browse magazines, check news or lose themselves in novels.

Online retail giant Amazon has made electronic readers mainstream with Kindle devices, and Apple ignited insatiable demand for tablets ideal for devouring online content ranging from films to magazines and books.

In 2011, digital books earned about $3.2 billion in revenue, an amount that the combined momentum of e-readers and tablets is expected to triple to $9.7 billion by the year 2016, according to a Juniper Research report.

Readers are showing increased loyalty to digital books, according to the US Book Industry Study Group (BISG).

Nearly half of print book buyers who also got digital works said they would skip getting an ink-and-paper release by a favorite author if an electronic version could be had within three months, a BISG survey showed.

“The e-book market is developing very fast, with consumer attitudes and behaviors changing over the course of months, rather than years,” said BISG deputy executive director Angela Bole.

Concerns about e-book reading are diminishing, with people mainly wishing for lower device prices, according to the survey.

Owning e-readers tended to ramp up the amount of money people spent on titles in what BISG described as a promising sign for publishers.