Jumaat, 7 Februari 2014

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Ignore the Unemployment Rate - Wall Street Journal

Posted: 07 Feb 2014 08:44 AM PST

[unable to retrieve full-text content]

Wall Street Journal

Ignore the Unemployment Rate
Wall Street Journal
The unemployment rate is one of the most consequential numbers shaping our body politic. Unfortunately, it is also one of the most misleading, says Zachary Karabell. Zuma Press. Today at 8:30 a.m., the U.S. Bureau of Labor Statistics released its monthly ...
Weak January hiring offset lower jobless rateKansas City Star
US hiring fails to rebound strongly from winter chillReuters
US Unemployment Drops to 5-Year LowVoice of America
Businessweek -San Francisco Chronicle -Deseret News
all 396 news articles »

2014 Sochi Olympics live: Rainbow-colored coats, a ring that fails to open - Los Angeles Times

Posted: 07 Feb 2014 08:43 AM PST

The 2014 Winter Olympics opening ceremony is underway in Sochi, Russia, and among the athletes marching into Fisht Olympic Stadium was the German team, which appeared to be making a pro-gay-rights statement in rainbow-colored coats.

The teams of athletes began their march into the stadium soon after the start of the ceremony. Venezuela made an impression with the size of its contingent: three -- "one dancing with a flag, one taking video, a third just looking left out," says the L.A. Times' Bill Plaschke.

Among sights leading up to the athletes' entrance: platforms illustrating the different landscapes of Russia floated through the stadium; tATu -- a group described as a psuedo-lesbian pop duo -- performed, which was interesting given the uproar over Russia's anti-gay laws; and the Ministry of Internal Affairs choir sang.

One Olympic goof was making the rounds on social media. Five massive illuminated snowflakes were supposed to open into the Olympic rings, but one remained a flake.

The U.S. athletes are wearing Ralph Lauren gear for the opening ceremony -- including a chunky, patchwork knit wool cardigan  emblazoned with stars, stripes and patriotic graphics. 

Although there is no streaming video of the 2014 Winter Olympics opening ceremony in real time, you can get a sneak peek here with our reporters and others tweeting the ceremony from Russia. See our live coverage below. (Here's a version for mobile users.)

The ceremony will be shown at 7:30 p.m. PST on NBC in its entirety.

How to watch the Olympics online | ... and on TV

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Khamis, 6 Februari 2014

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Bullish FY13 results lift DiGi share

Posted: 06 Feb 2014 06:41 PM PST

DiGi.Com Bhd's shares increased 1.443 per cent this morning as the stock became attractive following its better-than-expected 2013 financial year results posted yesterday.

As at 10am, the telecommunication services provider's share rose seven sen to RM4.92, with 6.858 million lots changing hands.

DiGi.Com registered a higher pre-tax profit of RM1.705 billion for the financial year ended December 31, 2013 against RM1.205 billion recorded in the previous financial year.

Revenue grew to RM6.733 billion in the period under review from RM6.360 billion registered in 2012.

The company declared a total dividend of 21.30 sen per share for 2013, including an interim dividend of 7.05 sen per share in the fourth quarter.

HwangDBS Vickers Research said DiGi.Com was poised for growth in the current financial year.

"We think DiGi will enjoy earnings upside from subscriber gains as a result of expanding 3G population coverage, greater mobile internet usage and stable margins through cost efficiencies.

"Moreover, depreciation expenses would be lower as its new network has a longer useful life and was built at a lower cost compared to its legacy network," the research house said in a note today.

The research firm has upgraded DiGi to a 'buy call, with a higher target price of RM5.35, after increasing its terminal growth assumption to two per cent from 1.5 per cent.

HwangDBS said that it was optimistic on DiGi's earnings outlook, given its strengthening position in the prepaid segment.

Meanwhile, Kenanga Research said DiGi is expected to deliver between four and six per cent revenue growth in the FY14, higher than the industry average of four per cent.

Following the projection, the research house has maintained its 'outperform' rating on DIGi.Com, with unchanged target price of RM5.24.

Kenanga Research had also raised its FY14 and FY15 net profit forecasts on DiGi by 6.7 per cent and 2.5 per cent, respectively, after fine-tuning and lowering the depreciation cost assumption.-- Bernama

UEM Sunrise, KL Kepong in Iskandar jv

Posted: 06 Feb 2014 07:13 PM PST

UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd will jointly develop two projects in Iskandar Malaysia, Johor generating RM20 billion in gross development value.

The first project is the 2,500 acres Fraser Metropolis, which will comprise residential, industrial and commercial properties worth RM15 billion to be developed over 15 years.

The second development is the 500 acres Gerbang Nusajaya featuring residential and commercial properties worth RM5 billion to be developed over eight years.

Both parties formalised two separate agreements today for the planned joint venture developments.

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Competition begins at Winter Olympics after DHS issues toothpaste tube ... - Fox News

Posted: 06 Feb 2014 08:21 AM PST

The U.S. Department of Homeland Security warned Wednesday that terrorists may try to smuggle explosives on Russia-bound planes using toothpaste tubes.

The threat was passed on to airlines that have direct flights to Russia, including some that originate in the United States, according to a law enforcement official speaking Wednesday on condition of anonymity because he was not authorized to discuss details of the warning, which came hours before competition began at the Winter Olympics in the Black Sea resort town of Sochi, Russia. 

The official said the airlines were warned that explosive devices could be assembled in flight or upon arrival at the Olympics.

The department said in a statement that the U.S. "isn't aware of a specific threat to the homeland at this time." It said the department "regularly shares information with domestic and international partners, including those associated with international events such as the Sochi Olympics."

Delta Airlines is the only U.S. carrier with a direct flight from the United States to Moscow. Russian airlines Aeroflot and Transaero both operate several nonstop flights from the U.S.

United Airlines, the official airline of the U.S. Olympic team, does not have scheduled service to Russia but is operating some charter flights to Sochi.

Earlier Wednesday, Russia investigators said security forces killed a militant who may have helped train the two suicide bombers who struck the southern city of Volgograd.

The bombings of a train station and an electric trolleybus in late December killed 34 people and heightened security fears of the Olympics.

Competition began 32 hours before Friday's opening ceremony due to the addition of 12 new medal events for men and women. Men's slopestyle snowboarding was the first event to get underway, and was scheduled to be followed by women's slopestyle, women's moguls, and team figure skating. 

The Associated Press contributed to this report.

Judge orders Texas teen Ethan Couch to rehab for driving drunk, killing 4 - CNN

Posted: 06 Feb 2014 07:41 AM PST

STORY HIGHLIGHTS
  • The lock-down residential treatment facility is not identified
  • The teen's family will foot the bill
  • Couch was sentenced to 10 years' probation but no jail time

(CNN) -- A judge on Wednesday ordered that Ethan Couch -- who drove drunk and caused a crash, killing four people and injuring two -- go to a lock-down residential treatment facility.

State District Judge Jean Boyd had already decided the Texas teenager would serve no jail time. He was sentenced last year to 10 years' probation.

His story made national headlines after a witness claimed Couch was a victim of "affluenza" -- the product of wealthy, privileged parents who never set limits for the boy.

That particular defense, however, played no part in the judge's decision, Couch's lawyer told reporters on Wednesday. Court proceedings were closed to the public.

"She (Boyd) said it (affluenza), and specifically mentioned that that was not a basis for her decision," said attorney Reagan Wynn. "She heard all the evidence and she made what she thought was the appropriate disposition."

'Affluenza' defense psychologist: 'I wish I hadn't used that term'

The judge ordered that Couch's parents pay for the treatment facility, which was not identified. It was also unclear how long Couch might stay there.

As part of his probation, the teen must refrain from using drugs or alcohol. He will also not be allowed to drive. If Couch violates the terms of his probation, he could face up to 10 years behind bars.

"I think he can be rehabilitated given intensive therapy and I hope that he gets it," Wynn said about the teen. "The juvenile system is about rehabilitation and if it's going to be about rehabilitation, she (Boyd) absolutely made the right decision."

Eric Boyles, who lost his wife and daughter in the crash, disagrees.

He told reporters he has no doubt that money played a role in the case.

Steering teen drivers out of harm's way

"Had he (Couch) not had money to have the defense there, to also have the experts testify, and also offer to pay for the treatment, I think the results would have been different," he said Wednesday after the proceedings.

Last June, his wife, Hollie Boyles, and daughter, Shelby, left their home to help Breanna Mitchell, whose SUV had broken down. Brian Jennings, a youth pastor, was driving past and also stopped to help.

All four were killed when the teen's pickup plowed into the pedestrians on a road in Burleson, south of Fort Worth. Couch's vehicle also struck a parked car, which then slid into another vehicle headed in the opposite direction.

Opinion: 'Affluenza' isn't as crazy as it sounds

Two people riding in the bed of the teen's pickup were tossed in the crash and severely injured. One is no longer able to move or talk because of a brain injury, while the other suffered internal injuries and broken bones.

According to prosecutors, three hours after the crash, tests showed Couch had a blood alcohol content of 0.24, three times the legal limit.

"There has been nothing from Ethan from these proceedings with regards to remorse on his part at all -- that I do think would have helped. It would have helped the victims. No doubt about it, it would have helped," said Boyles.

Prosecutors were similarly disappointed with the judge's decision.

They had asked for the maximum of 20 years behind bars.

"This has been a very frustrating experience for me," said prosecutor Richard Alpert. "I'm used to a system where the victims have a voice and their needs are strongly considered. The way the system down here is currently handled, the way the law is, almost all the focus is on the offender."

'Affluenza': Is it real?

CNN's Jason Morris and Ed Lavandera contributed to this report.

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Rabu, 5 Februari 2014

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KLCI futures higher in early trade

Posted: 05 Feb 2014 06:11 PM PST

The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract (FKLI) on Bursa Malaysia Derivatives opened higher on buying interest despite the weaker cash market.

At 9.32am, spot month February 2014 was six points better at 1,784, March 2014 gained 5.5 points to 1,783 and September 2014 rose seven points to 1,781.5.

June 2014 was flat at 1,773.

Turnover amounted to 1,200 lots while open interest totalled 32,733.

The benchmark FBM KLCI was 0.22 of-a-point lower at 1,785.66 points after 32 minutes of trading.-- Bernama

Gold down 20 sen

Posted: 05 Feb 2014 06:15 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM129.49 per gramme, down 20 sen from RM129.69 at 5pm yesterday.-- Bernama
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CVS calls it quits: No more tobacco products - USA TODAY

Posted: 05 Feb 2014 08:56 AM PST

WASHINGTON — Drug store giant CVS Caremark announced Wednesday it will no longer sell tobacco products at its 7,600 pharmacies by Oct. 1.

CVS sells $2 billion in tobacco and tobacco-related products a year, or 3% of overall sales, but CVS officials said selling cigarettes while promoting wellness doesn't make sense.

"Selling tobacco is very inconsistent with being in that business," said Helena Foulkes, CVS's pharmacy president. "We really thought about this decision as it relates to the future as a health company — it's good for customers and our company, in the long run."

Foulkes told USA TODAY that CVS sees its future as an alternative to the doctor's office, with 26,000 pharmacists and nurse practitioners counseling customers about how to control their high cholesterol, diabetes and high blood pressure.

"Any form of tobacco use makes those chronic conditions more difficult to deal with," she said. "This is good for business and the right thing to do."

President Obama — a former smoker — hailed the announcement, saying in a statement Wednesday: "As one of the largest retailers and pharmacies in America, CVS Caremark sets a powerful example, and today's decision will help advance my administration's efforts to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs — ultimately saving lives and protecting untold numbers of families from pain and heartbreak for years to come."

STORY: Obama applauds CVS decision on tobacco

CVS officials met with tobacco company executives Tuesday to explain the decision, understanding that eliminating tobacco products from the pharmacies would likely affect the tobacco industry's bottom line, as well.

"Obviously, you would think they would be disappointed about the decision," said Larry Merlo, CEO of CVS Caremark, of the meeting with the officials. But he said they understood the rational behind the decision. And it probably won't be a huge loss for them: Morgan Stanley issued an analysis Wednesday stating that CVS probably accounts for about 2% of industry sales.

"We do not believe that CVS's exit — or the potential exit of other pharmacy chains in the future — will reduce total sales," the statement reads.

Other pharmacies are expected to eventually follow suit, and some cities in California and Massachusetts have banned tobacco sales at all pharmacies. The American Pharmacists Association asked for a ban on sales in 2010 at pharmacies, including at grocery stores that have pharmacies, according to an article published in the Journal of the American Medical Association (JAMA) Wednesday

As the Affordable Care Act is implemented, it's important to help people stay healthy, said Troy Brennan, the company's chief medical officer.

"It's expensive to provide health care for all the people through the ACA," Brennan said. The company will announce a "very large" smoking cessation program in the spring.

Foulkes said seven out of 10 smokers would like to stop, and half have tried to in the past year.

Ezekiel Emanuel, a University of Pennsylvania bio-ethicist and one of the architects of the health care law, said he sees smoking as one of the top health issues facing the United States. He agrees that reducing smoking-related costs is important as more people become insured so others don't have to take on the burden of those costs and called working to reduce smoking "kind of a no-brainer."

CVS expects to lose about $2 billion in sales annually, Foulkes said, but the company hopes to recoup its losses in other ways, including an increased focus on its pharmacy management benefit program to help insurers save money on employees' health. Merlo said the change would not affect their bottom line.

And while they intend to look at other ways to push a health-oriented focus, Merlo said they had no plans to eliminate alcohol or candy from the pharmacies, saying that "occasional use does not cause the problems that tobacco does." Instead, they intend to focus on keeping tobacco out of the hands of young people so they don't begin lifelong addictions, he said.

More than 480,000 people die from smoking-related ailments a year, according to the JAMA article by Brennan and Steven Schroeder, director of the Smoking Cessation Leadership Center at the University of California.

Smoking has gone down significantly, from 42% of adults in 1965 to 18% today. This comes after increases in taxes, and public areas — such as airports, bars and federal buildings — where smoking is prohibited. Advertising also diminished the appeal of smoking. Just this week, the American Cancer Society launched an advertising campaign aimed at how teenagers would look in the future if they begin smoking now. Still, 42 million people smoke and 16 million are sick, according to JAMA.

The Rhode Island-headquartered company maintained that its exit from the tobacco category will not affect its 2014 operating profit guidance. Its shares are down about 1% in pre-market trading.

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Source: 4 arrested in connection with drugs in Hoffman's apartment - CNN

Posted: 05 Feb 2014 08:24 AM PST

STORY HIGHLIGHTS
  • NEW: Police release names of suspects, all facing drug-related charges
  • Police found Hoffman's personal journal in his apartment, sources say
  • Source: Police recover 350 bags of what is believed to be heroin
  • Hoffman withdrew $1,200 from ATM the night before he died, source says

New York (CNN) -- Four people believed to be connected to the drugs found in Philip Seymour Hoffman's apartment were arrested late Tuesday night, law enforcement officials told CNN.

During the raid that led to the arrest of the three men and one woman, police recovered 350 glassine-type bags of what is believed to be heroin, the officials said.

Apartments at 302 Mott Street in Manhattan, where the four were arrested, are part of the investigation into Hoffman's death, according to a police source.

The source identified suspects being investigated in connection with drugs sold to Hoffman as Juliana Luchkiw, 22, charged with criminal use of drug paraphernalia, criminal possession of a controlled substance and unlawful possession of marijuana; Max Rosenblum, 22, charged with criminal use of drug paraphernalia, criminal possession of a controlled substance and unlawful possession of marijuana; Robert Vineberg, 57, charged with criminal possession of a controlled substance and criminal use of drug paraphernalia; and Thomas Cushman, 48, charged with criminal possession of a controlled substance.

Vineberg was found to have the actor's phone number stored in his cell phone, a law enforcement official told CNN.

When police were called to Hoffman's fourth-floor Manhattan apartment Sunday, they found the actor lying on the bathroom floor with a syringe in his left arm. He was wearing shorts and a T-shirt, his eyeglasses still resting on his head, according to law enforcement sources familiar with the inquiry.

Investigators discovered close to 50 envelopes of what they believed was heroin in the apartment, the law enforcement sources said. They also found used syringes, prescription drugs and empty glassine-type bags, the sources said.

Also found in Hoffman's apartment was his personal journal, resting on a living room TV stand, two law enforcement sources said.

Hoffman's final hours

No fentanyl found

Preliminary tests Tuesday showed the heroin recovered from the apartment does not contain fentanyl, a law enforcement official told CNN. More testing will be done.

Fentanyl is a powerful narcotic used to treat cancer patients' pain.

Last week, Maryland officials said heroin tainted with fentanyl had claimed at least 37 lives since September. And last month, at least 22 people in western Pennsylvania died after using heroin mixed with fentanyl.

While results of an autopsy will definitively reveal exactly how Hoffman, 46, died, the role heroin may or may not have played is a key part of the investigation.

Final hours

Police are trying to piece together the actor's movements last weekend as they look for anyone who might be linked to the drugs that apparently killed him.

On Tuesday, a law enforcement source told CNN that the night before Hoffman died, he withdrew $1,200 from a grocery store ATM near his apartment.

Hoffman got the money in six transactions Saturday night, according to the source.

A witness told investigators he saw the Oscar-winning actor talking to two men wearing messenger bags about 8 p.m.

Police are also reviewing surveillance video, including video of a restaurant where Hoffman had brunch Saturday morning with two people.

How heroin kills you

'I'm a heroin addict'

In a 2011 interview with "60 Minutes," Hoffman discussed his past struggles with drug and alcohol addiction.

"Anything I could get my hands on, I liked it all," he said.

Fear, Hoffman said, made him sober up.

"You get panicked. ... I was 22 and I got panicked for my life. It really was, it was just that," he said. "And I always think, 'God, I have so much empathy for these young actors that are 19 and all of a sudden are beautiful and famous and rich.' I'm like, 'Oh my God. I'd be dead.'"

But last year, Hoffman said he'd fallen off the wagon, started taking prescription pills and slipped into snorting heroin, according to TMZ.

Magazine writer John Arundel said he met the actor at the Sundance Film Festival in Utah two weeks before his death.

"I said, 'What do you do?' And at that point, he took off his hat and he said, 'I'm a heroin addict,'" Arundel said.

"Didn't look like he was (joking). Seemed like he was having one of those 'coming to God' moments -- where it just stuck him as, 'this is the revelatory moment.'"

But actor George Clooney said he had dinner with Hoffman a few months ago, and he seemed fine.

"I have to say he seemed in pretty good shape," Clooney said. "I mean, there's no way to explain it."

Filmmaker Chris Barrett interviewed Hoffman January 17 at the Sundance Film Festival. "He didn't look well at Sundance. His skin color was very pale, but he wasn't disheveled as some media was reporting," Barrett told CNN.

Dim the lights

Family and close friends of the actor will hold a private funeral service in New York. Plans are also under way for a memorial service later this month. No information on the dates was available.

On Wednesday night, the famed Broadway theater district will dim its marquees for one minute at 7:45 p.m. in Hoffman's memory.

Hoffman appeared on Broadway three times.

CNN's Ray Sanchez in New York contributed to this report.

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Selasa, 4 Februari 2014

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KL shares rebound to open firmer

Posted: 04 Feb 2014 05:44 PM PST

Share prices on Bursa Malaysia rebounded from yesterday's losses to open firmer across-the-board in the early trading today,
lifted by renewed buying interest following positive overnight performance on Wall Street.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,784.36, up 5.53 points from yesterday's settlement at 1,778.83.

The benchmark index opened 6.01 points higher at 1,784.84, with demand mostly seen in index-linked counters.

Gains in Petronas Gas lifted the composite index by 1.15 points, with oil and gas share gaining 32 sen or 1.4 per cent to RM23.14.


Market breadth was positive as gainers trounced losers 149 to 36, with 101 counters unchanged, 1,307 untraded and 17 others suspended.

Turnover stood at 108.936 million shares worth RM46.063 million.

HwangDBS Vickers Research said a technical rebound could be on the cards for the Malaysian bourse today.

"The benchmark FBM KLCI, after hitting a low of 1,769.80 yesterday, will probably extend its recovery pattern by climbing above the immediate resistance line of 1,780 ahead.

"This follows an overnight bounce-up on Wall Street," the research house said in a note today.

Key US stock bellwethers rose between 0.5 per cent and 0.9 per cent from their oversold territories after slumping as much as 4.3-7.3 per cent from their recent highs, it added.

On the scoreboard, the Finance Index rose 39.18 points to 16,327.69, the Industrial Index increased 10.51 points to 3,041.88 and the Plantation Index gained 8.73 points to 8,315.1.

The FBM Emas Index improved 34.64 points to 12,326.83, the FBMT100 Index rose 33.2 points to 12,041.99, the FBM 70 garnered 21.48 points to 13,605.47 and the FBM Ace rose 25.46 points to 5,897.81 points.

Among actives, Minetech Resources rose two sen to 23.5 sen, IRIS Corp added 1.5 sen to 41 sen and Astral Supreme inched up half-a-sen to 20 sen.

As for heavyweights, Maybank was up two sen to RM9.58, TNB soared six sen to RM11.34, while both CIMB and Sime Darby were flat at RM6.85 and RM8.87, respectively.

Axiata Group, however, shed one sen to RM6.54.-- Bernama

Gold down 72 sen

Posted: 04 Feb 2014 05:45 PM PST

[unable to retrieve full-text content]The physical price of gold as at 9.30am stood at RM129.42 per gramme, down 72 sen from RM130.14 at 5pm yesterday.-- Bernama
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Dreams kept castaway going - New Zealand Herald

Posted: 04 Feb 2014 08:33 AM PST

[unable to retrieve full-text content]

Toronto Star

Dreams kept castaway going
New Zealand Herald
Alvarenga said he set out on a shark fishing expedition in late December 2012. Photo / AFP. A castaway who says he survived 13 months adrift in the Pacific said yesterday he thought about suicide but was sustained by dreams of eating his favourite food ...
Castaway claims he drifted 13 months in PacificCNN
Doubts raised over castaway's 13 months 'lost at sea' claimFox News
Mexican fisherman shore up Marshall Islands castaway's accountNBCNews.com (blog)
The Express Tribune -Telegraph.co.uk -The Sun Daily
all 515 news articles »

Obama defends record on marriage - Politico

Posted: 03 Feb 2014 06:38 PM PST

President Barack Obama is defending his record on promoting strong families in the African-American community, rejecting suggestions during an interview released Monday that he hasn't done enough as president to tout the benefits of marriage.

"We address it explicitly all the time," Obama told Fox News's Bill O'Reilly in an exchange recorded before Sunday's Super Bowl.

In response to O'Reilly's statement that Obama and first lady Michelle Obama were not engaged in a campaign to reduce out-of-wedlock births among black Americans, the president insisted that such messages are part of his rhetoric even if the media doesn't pick up on them.

"I will send you at least 10 speeches I have made since I have been president, talking about the importance of men taking responsibility for their children, talking about the importance of young people delaying gratification. talking about the importance of when it comes to child rearing, paying child support, spending time with your kids, reading with them," Obama said. "So, whether it's getting publicity or not is a whole different question."

The president did not cite speeches where he had directly promoted marriage, but he insisted that he done so.

O'Reilly cited statistics showing that 72 percent of African-American children are born out of wedlock, a factor often leading to poverty, but Obama sought to broaden out the conversation to other racial groups.

"What's interesting when you look at what's going on right now, you are starting to see in a lot of white working-class homes similar problems when men can't find good work, when the economy is shutting ladders of opportunity off from people, whether they are black, white, Hispanic, it doesn't matter, that puts pressure as well on the home," the president said.

"So, you have got an interaction between an economy that isn't generating enough good jobs for folks who traditionally could get blue collar jobs even if they didn't have a higher education and some legitimate social concerns that compound the problem. And, so, we want to hit both."

Obama said the White House is gathering "philanthropists and business people, city by city" to address both social and economic aspects of the issue.

The interview, recorded after a live interview before Sunday's Super Bowl, aired Monday on Fox News's "O'Reilly Factor."

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