FRANKFURT (Reuters) – Loans to private sector companies and households in the euro zone fell in December from the previous month, European Central Bank data showed on Friday, adding to signs of a credit crisis in the currency bloc.

The monthly flow of loans to firms dropped by 37 billion euros after falling by 7 billion euros in November.

Euro zone M3 money supply – a more general measure of cash in the economy – grew at an annual 1.6 percent in December, slowing from 2.0 percent in November and below expectations of 2.2 percent in a Reuters poll.

There is a tentative evidence of a modest credit crunch in the numbers with growth of loans to the private sector decreasing significantly, said Holger Schmieding, economist at Berenberg Bank.

These numbers on their own are a reason for further monetary easing. The ECB is still likely to cut interest rates in March, and they will have to revise down their growth forecasts, he added.

(Frankfurt Newsroom; Editing by Catherine Evans)

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Published: Saturday, Jan 28, 2012, 15:20 IST
Place: New Delhi | Agency: PTI

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Weak domestic demand and the monetary conditions maintained by National Bank of Hungary (MNB) limited the secondary inflationary effect of tax rises and the weaker forint last year, and the risk of longer-term second-round effects is low, the Monetary Council said on Tuesday.

Assessing inflationary performance in 2011 in a statement, the council said that inflation fluctuated near the upper end of the +/-1% tolerance band around the bank’s 3% inflation target for most of the year.

Annual average inflation fell to 3.9% in 2011 from 4.9% in 2010.

The sharp rise of global unprocessed food and oil fed through domestic processed food prices and domestic fuel prices starting the end of 2010, and these were the main factors pushing inflation over the target in the first half 2011, the Council said. As a result of these effects, the consumer price index (CPI) hovered near 4% in H1.

The second-round effects of the cost shocks had only a modest impact on the CPI, however, as weak domestic demand and loose labour market conditions tempered both prices and wages.

Although inflation fell in H2 as the inflationary impact of the cost shocks faded and domestic demand remained weak, inflation picked up again due to the increases in indirect taxes, the statement said.

The worsening risk assessment of the Hungarian economy beginning late last summer resulted in a sharp weakening of the forint, which in turn raised the prices of imported goods. However, weak domestic demand put a limit on price increases, and the inflationary effect of the sharply weaker exchange rate was modest overall.

The indicators of the longer-term inflationary outlook showed moderate inflationary pressures throughout the year, the statement said.

Under the monetary conditions maintained in 2011 and with domestic demand remaining persistently weak, the risk of inflationary shocks leading to longer-term second-round effects is low, the Council said, adding that it will continue its efforts to bring inflation in line with the inflation target in the medium term.

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PITTSBURGH, Jan. 27, 2012 /PRNewswire via COMTEX/ –
The Art Institutes and Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education, are challenging high school seniors and high school graduates to design a poster that best expresses the theme “You Can Create Tomorrow” in the 2012 Poster Design Competition. Entries are being accepted through February 3, 2012. Winners will earn up to a full tuition scholarship to study at one of the more than 45 Art Institutes schools.

This year’s competition is open to high school seniors and high school graduates(1) from the U.S., Canada and Puerto Rico. Contestants will compete in two different categories: (i) high school senior or (ii) high school graduate/adult.

For inspiration, prospective competitors can see what past winners have to say about their experiences during and after the competition at
http://www.youtube.com/watch?v=Yo0c15nSONg&feature=youtu.be .

“I was pretty nervous about the Poster Design Competition when I entered it, but I think it really benefitted me in the long run,” said Tess Brownson, the 2008 Poster Design Competition winner working towards a Bachelor of Art in Media Arts & Animation at The Art Institute of Colorado. “I had something published and now I’m at school and have all of this experience to talk about.”

“We are excited to be part of this scholarship competition,” said Robert L. Lynch, president and CEO of Americans for the Arts. “The entry pieces are not only vibrant and exciting, but also a great reminder of how much art can touch us in our everyday lives.”

To see the full entry requirements, complete official rules and to learn more about The Art Institutes and Americans for the Arts Poster Design Competition, visit
www.artinstitutes.edu/postercompetition or
http://www.multivu.com/players/English/51393-art-institutes-poster-design-competition/ .

The Art Institutes (
www.artinstitutes.edu ) is a system of more than 45 educational institutions located throughout North America. The Art Institutes schools provide an important source for design, media arts, fashion and culinary arts professionals. Several institutions included in The Art Institutes system are campuses of South University. See aiprograms.info for program duration, tuition, fees, and other costs, median debt, federal salary data, alumni success, and other important info.

Americans for the Arts is the leading nonprofit organization for advancing the arts and arts education in America. With offices in Washington, D.C. and New York City, it has a record of more than 50 years of service. Americans for the Arts is dedicated to representing and serving local communities and creating opportunities for every American to participate in and appreciate all forms of the arts. Additional information is available at
www.AmericansForTheArts.org .

(1) This year marks the first time the competition is open to high school graduates as well as high school seniors.

SOURCE The Art Institutes

Copyright (C) 2012 PR Newswire. All rights reserved

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Thompson Valley High School senior Faith Ford, 18, poses for a photo as classmates hold some of the photographs in her portfolio Friday at the school in Loveland. Her portfolio won a Scholastic Art Award. Many art students at the school won awards for individual pieces as well. (Photo by Jenny Sparks)

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The New York Knicks lost to the Miami Heat on Friday night (Jan. 27), despite hitting 18 three-pointers in the game. Now the team has to travel to play the Houston Rockets in the second game of this short road trip. This is a Houston team that can get up and down the floor pretty quickly and will become a defensive nightmare for the Knicks.

Houston is 11-8 on the season and has one of the best point guards in the league running the team. Kyle Lowry is averaging 15.5 points, 8.5 assists and 6.8 rebounds a game and seems destined to make the Western Conference All-Star team. He is doing a great job at setting up teammates Kevin Martin and Luis Scola for success and the team has been playing very well when he is on. Samuel Dalembert is the new center and he could present a pretty big challenge for Tyson Chandler to stop (no pun intended). The leading scorers are Martin with 20.1 points per game and Scola with 15.6 a night

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NEW YORK, Jan. 10, 2012 /PRNewswire via COMTEX/ –
TheraBiogen, Inc.

/quotes/zigman/593177 TRAB
-1.95%



, a manufacturer and distributor of homeopathic nasal sprays for aiding in the relief of allergies, cold and flu symptoms and migraine headaches, announced the completion of the launch of its Times Square Social Media campaign. Over 200 people, chosen at random, were encouraged to try Thera Max® Cold and Flu and a reporter filmed video interviews with them under the Thera Max® billboard. The Social Media Campaign will continue throughout the season.

The videos from the Thera Max® “No Cold Here” Times Square promotion, implemented by MDM Worldwide, were uploaded on the Thera Max® Facebook and YouTube pages beginning on January 4, 2012. On February 1, 2012, one Grand Prize Winner will be selected at random to receive a Thera Max® customized iPad2. Others will receive free Thera Max® products.

Additionally, the Thera Max® Facebook, Twitter, and YouTube pages will be utilized for marketing research, consumer trends and product studies and to engage consumers around the world and demonstrate this new, super-smart cold and flu nasal spray.

CEO, Kelly T. Hickel commented, “We have received outstanding results from this case study, and now we’re excited to see the feedback we receive from our Facebook fans which will provide valuable marketing trends for TheraBiogen, Inc. as the company continues to market its products in 2012.”

The Thera Max® Cold and Flu commercials and Times Square videos may be viewed on the Thera Max® YouTube page at

http://www.youtube.com/user/TheraMaxRelief

Thera Max® Cold and Flu is an all-natural, non-zinc, non-addictive, over-the-counter cold and flu relief agent. Over 50 million Americans contract the flu each year and consumer demand for a homeopathic, non-zinc remedy is a 2.5 billion dollar market according to research studies.

Thera Max® is available for purchase in over twelve thousand locations including Rite-Aid, Food Lion, Hannaford Supermarkets, Discount Drug Marts and Big Y Supermarkets as well as two of the three largest drug retailers. For more information on Thera Max® visit our website at
www.theramaxrelief.com , our Facebook page at
http://www.facebook.com/TheraMaxNasalSpray or follow us on Twitter at

http://twitter.com/theramaxrelief

About TheraBiogen, Inc.

TheraBiogen is a manufacturer and distributor of homeopathic nasal sprays for aiding in the relief of allergies, cold and flu symptoms and migraine headaches. The products are made from natural, homeopathic ingredients and contain no zinc, which has been identified as potentially causing nasal problems in other similar products on the market. For further information please visit
www.theramaxrelief.com .

Safe Harbor Statement

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that could cause actual performance and results of operations to differ materially from those anticipated. These risks are set forth in the Company’s most recently filed form 10-K and Form 10-Q reports. TheraBiogen, Inc. assumes no obligation to update the statements contained in this release except as required by applicable securities laws disclosure rules.

Company Contact: Public Relations Contact: Investor Contact:
TheraBiogen, Inc. Megan Megale Boutcher & Boutcher
Kelly T. Hickel, CEO Megale Public Relations Aimee Boutcher
732-294-8705 703-625-8093 973-239-2878
kthickel@therabiogen.com mmegale@megalepr.com Aboutcher@therabiogen.com

SOURCE TheraBiogen, Inc.

Copyright (C) 2012 PR Newswire. All rights reserved

/quotes/zigman/593177

Add TRAB to portfolio

TRAB

TheraBiogen Inc.


$
0.04

-0.0008
-1.95%

Volume: 120,000
Jan. 26, 2012 12:19p

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Hurricanes-Penguins Game Review

Pittsburgh, PA (Sports Network) – James Neal scored the game-deciding goal in the shootout as the Pittsburgh Penguins took a 2-1 victory over the Carolina Hurricanes on Tuesday.

Evgeni Malkin scored in regulation for Pittsburgh, while Marc-Andre Fleury made 25 saves as the Penguins snapped a four-game home losing streak. Their last win at CONSOL Energy Center was a 4-2 decision over the Hurricanes on December 27.

It was a good team effort and good for our confidence, Fleury said about the game.

Jamie McBain lit the lamp for the Hurricanes, who have lost eight of their last nine road games to fall to 5-13-5 on the road this season.

Cam Ward stopped 40-of-41 shots in defeat.

After Malkin and Carolinas Jussi Jokinen traded goals in the first round of the shootout, Chris Kunitz and Jeff Skinner each failed to put the puck in the net.

Neal then started down the right side of the ice before cutting across to the left and sending a hard wrister into the short side.

Eric Staal came up next with a chance to keep Carolina alive, but his backhander was stopped by Fleurys left pad as the goaltender stretched across the crease to give Pittsburgh the win.

Weve had a tough time trying to find a way to win, said McBain. We feel good about our game. We just have to keep fighting and eventually the results will turn.

Carolina struck first just 2:11 into the opening period when McBain received a slow-moving pass in the high slot and wristed the puck past Fleurys stick side.

But Malkin sent the game into the first intermission tied at one after gathering his own rebound to the right of the net and lifting a shot under the crossbar from close range with 1:22 left on the clock.

Each goaltender shut the door from there, as Fleury made eight saves in the second, six in the third and two in overtime, while Ward stopped 11 shots in the second, 11 in the third and six in OT.

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(AP) LOS ANGELES — Chris Burdens latest kinetic sculpture, Metropolis II, does more than just imitate life. The colorful display of roads, cars, trains and buildings is art imitating what the artist foresees life being like in five or 10 years.

It will be a time, Burden forecasts, when cars will race across Los Angeles no-longer-gridlocked freeways and streets, past a skyline of towering buildings and single-family homes, at speeds of 240 miles per hour or more.

Thats just what the tiny cars do in Metropolis II, a colorful contraption composed of 1,100 miniature vehicles, 18 miniature roads, a tiny commuter rail line and dozens of small skyscrapers and other buildings. The cars, which Burden says reach a speed of 240 scale miles per hour, are powered by a complex series of electronic conveyor belts and magnets,

In essence, its sort of a complicated roller-coaster system, the artist, one of the pioneers of the Light and Space movement that flowered in Los Angeles in the 1970s, explained after throwing the switch on it earlier this week.

It goes on display to the general public this weekend at the Los Angeles County Museum of Art where a separate gallery has been constructed to house it, one with a balcony so people can view the work from either ground level or above. But it will only be powered up on Fridays, Saturdays, Sundays and, this week, on Martin Luther King Day.

It is to remain on display at the museum for at least 10 years under an agreement with Nicolas Berggruen, the billionaire businessman who sits on the institutions board and who bought it for an undisclosed sum.

By the end of that time, Burden believes, well be living a real-life version of Metropolis II, with real cars racing across the hillsides and over the freeways of Los Angeles, putting an end to traffic gridlock. Oh, and by the way, those cars wont have drivers in them, just passengers.

Im personally looking forward to it because I dont like driving in Los Angeles, laughs Burden, an affable man of 65 who looks little different, other than being a bit stockier and better dressed, than he did in 1971 when he shocked the art world with his controversial performance piece Shoot.

For that work, which can still be viewed on YouTube, Burden had himself filmed being shot in the arm by a friend who stood 15 feet away with a .22 caliber rifle.

For the equally controversial 1974 piece Trans-fixed, he had himself nailed, Christ-like, to the back of a Volkswagen bug.

More recently, he has gravitated to building large-scale sculptures made out of everyday objects.

In 2008 he built a 65-foot skyscraper out of Erector Set pieces and put it in the shadow of the 70-story General Electric building in New York Citys Rockefeller Plaza.

Burden is also the creator of Urban Light, a collection of 202 lovingly restored antique streetlights that were permanently installed in front of the Los Angeles County Museum of Arts entrance in 2008.

By day they provide a whimsical maze for passers-by to stroll through. By night, they brilliantly illuminate an entire block of Los Angeles Museum Mile in a stunning display of white light.

I think Chris Burden is one of the most significant artists, not only of Los Angeles but of this period of time, says Michael Govan, the museums director and chief executive officer.

Govan said he learned Burden was working on Metropolis II about the time Urban Light was being installed.

Even in its very beginnings you could see the outlines of a great work of art, Govan said during an interview at the museum earlier this week.

It took Burden four years to construct Metropolis II at his studio in the rustic Topanga Canyon arts colony, where he lives with his wife, the sculptor Nancy Rubins.

Nearly 10 feet tall and 30 feet wide, it is made up of, among other things, toy Lego blocks, toy Lincoln logs and HO-scale railroad tracks and trains he picked up at various stores.

He had to have the 1,100 automobiles specially made at a factory in China, however. They include sports cars, sedans, trucks and vans, each one with a little magnet in the chassis, so that they pull and push one another along without ever touching.

Then the whole thing had to be transported to the museum.

It was an epic effort, says Govan. It took seven months to disassemble it in the studio and reassemble it here.

When Burden fired it up this week, the cars raced along Metropolis IIs roads, including its six-lane freeway, at astounding speeds despite the nearly gridlock conditions. And, yes, there were no crashes despite all the tailgating.

Predicting his creation represents the future of automobile traffic, Burden notes Google is already testing driverless cars along San Franciscos famously winding streets and highways.

Advocates say such digitally driven vehicles could race through intersections at high speeds without colliding and without doing the stupid things that drivers do, like passing each other on blind curves.

I think its going to happen really quickly, Burden says. I think people are going to be surprised. In five or 10 years youre going to see such cars.

Until then, however, he will continue to make the 20-mile trip to the museum from his home by driving his BMW. But thats all right with him. He likes having the work at the museum.

Although born in Boston, Burden has lived in LA for more than 40 years. He earned a masters degree in fine art from the University of California, Irvine, in the early 1970s and, along with Ed Ruscha, is arguably one of the citys most famous and accomplished pop artists.

To have it go to Shanghai or Mumbai or to some Saudi Arabians palace, its not ideal for me, he said of his work, adding he had opportunities to sell it to other collectors.

I like it being in my hometown because I can come down and see it and, you know, I can enjoy it myself, he said.

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Sharks winger Ryane Clowe missed Tuesdays game against the Flames with an upper-body injury that coach Todd McLellan told CSN Bay Area is related to a hit that drove Clowe into the boards head-first.

The hit, by Minnesotas Justin Falk, came in the second period of a 5-4 shootout win for the Wild on Jan. 10. The 6-foot-5, 217-pound defenseman got Clowe shoulder to shoulder in the corner behind the Minnesota net, knocking him off balance and into the boards.

There was no penalty called or supplemental discipline levied, and Clowe played the next two games.

Also out for San Jose was forward Andrew Desjardins, who missed his second game since taking a shoulder-to-head hit Saturday, for which Dane Byers was suspended three games.

Desjardins told the San Jose Mercury News he experienced concussion-like symptoms after the hit. He skated Tuesday for the first time since the injury.

Hall injured: Oilers winger Taylor Hall, the top pick in the 2010 NHL draft, missed Tuesdays game because of a cut to the head sustained in practice. Hall slipped and fell and collided with a teammate before cutting his head on the skate of another teammate.

Letang returns: Penguins defenseman Kris Letang (concussion) returned to practice for the first time in nearly two months. Letang has been cleared to play by team doctors and is optimistic he can suit up sometime before the Jan. 29 All-Star Game.

Umberger out: The Blue Jackets placed winger RJ Umberger (concussion) on injured reserve.

This article appeared on page B – 5 of the San#xA0;Francisco#xA0;Chronicle

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