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Yet another deadline has passed without resulting in an agreement on the terms for establishing a new rescue package for Greece. The 130 billion euro ($170 billion) in emergency funding earmarked for Greece is contingent on the Greek government agreeing to, and abiding by, a program of severe spending cuts to address the country’s chronic overspending.

Patience is wearing thin amongst the “troika” comprised of the European Central Bank, the International Monetary Fund, and the European Commission that will provide and oversee the funding. The mounting frustration was evident in comments German Chancellor Angela Merkel made yesterday before the press in Paris:

“We want Greece to stay in the euro,” she told a news conference. But she added: “I want to make clear once again that there can be no deal if the troika proposals are not implemented. They are on the table, time is of the essence. Something needs to happen quickly.”

Source: Reuters

Check out some of the most notable commercials from a Super Sunday in which some spots featuring old favorites became old favorites themselves before the big game.

Australian retail sales unexpectedly declined in December, the first drop in six months, as consumers spent less at grocers and on dining out in an economy where employment growth stalled last year.

Sales slipped 0.1 percent from a month earlier, when they rose a revised 0.1 percent, the Bureau of Statistics said in Sydney today. The result compares with the median forecast in a Bloomberg News survey of 26 economists for a 0.2 percent gain.

The report validates Reserve Bank of Australia Governor Steven’s decision to lower the nation’s benchmark interest rate by a quarter percentage point on Nov. 1 and Dec. 6 to help revive household demand. The central bank’s board meets tomorrow to decide on rates, and most economists predict a third straight reduction.

Bloomberg

If welfare recipients want to dole out the dollar bills at a strip club, they'd better make sure it's not government money ... at least if a bill in Congress becomes law.

Family and friends gather to remember community leader Lenny Harris.

How Facebook and other Internet services like Google track your online interests and behaviors and oher tech news.

Once again, Chrysler's Super Bowl ad won the hearts and minds of football fans, this time with a little help from Clint Eastwood and, of course, Detroit.

News4's Pat Collins traveled to Fairfax County where fans cheered on the Giants, Patriots and even the Redskins.

News4's Pat Collins traveled to Fairfax County where fans cheered on the Giants, Patriots and even the Redskins.

Squeezed by Apple and Samsung, HTC had a bad quarter and expects the next to be worse.

Squeezed by Apple and Samsung, HTC had a bad quarter and expects the next to be worse.

Squeezed by Apple and Samsung, it had a bad quarter and expects the next to be worse

There was a time when HTC and Android were practically synonymous.

The Taiwanese manufacturer built the first commercially available Android phone -- the HTC Dream -- in 2008, and two years later collaborated with Google (GOOG) to build the Nexus One, the flagship of the Android line. Last November, it edged past Samsung, Apple (AAPL) and Research in Motion (RIMM) to take the lead in the U.S. market for smartphones.

How the mighty have fallen.

On Monday, HTC reported a 26% drop in fourth quarter profits and warned that revenues could drop 36% this quarter. Despite promises that the company would bounce back on the strength of four new models to be introduced at the Barcelona Mobile World Congress, the stock closed 5% lower in Asian trading.

"Our weakness in first-quarter guidance ... comes from facing competition in the U.S. from iPhone and Samsung," CFO Winston Yung told analysts in a conference call. He declined to provide unit sales numbers.

According to IDC, Samsung is now the No. 1 maker of smartphones in terms of shipments, both in the U.S. and worldwide (see here). But Apple is taking an ever larger share of the profits. In the December quarter, according to Asymco's Horace Dediu, Apple's iPhone captured 75% of worldwide profits in mobile phones -- smart or dumb -- with only an 8.7% market share, leaving precious little on the table for companies like HTC.

Filed under: Apple 2.0

U.S. stocks were set for a weak open Monday, as investors anxiously await Greek government leaders to reach an agreement on more budget cuts that are key to securing a second bailout and avoiding default in Greece.

Showmanship, prudence, and working with what it's got: How lingerie maker Victoria's Secret stays on top.

Showmanship, prudence, and working with what it's got: How lingerie maker Victoria's Secret stays on top.

Posted on 02.6.2012 10:00 by Simona Filed under: Rolls-Royce | coupe | Spy Shots and Rendering | luxury cars | Rolls-Royce Phantom | future cars | Cars | Car Reviews | Rolls Royce

The Rolls Royce Phantom Coupe went on sale back in 2008 and, after four years on the market, the company is now preparing its first facelift version for it. In fact, it seems the company is starting to work their way through the lineup, with news of a facelift version for the Phantom limousine released just a few days ago.

Just as with the Phantom sedan, don’t expect to see any major changes to the Coupe model because Rolls Royce is keeping them at a minimum to maintain the essence of the Phantom. The "major" changes will include new headlights, as well as the same minor changes to the interior and infotainment system as in the sedan version.

Minor changes will also be made under the hood, but only to the tune of a few more horsepower and a little less CO2. The power source will still be the usual 6.75 liter V12 engine, but with some 10-20 extra HP.

The new Rolls Royce Phantom Coupe should be ready for the 2013 model year.

Rolls Royce Phantom Coupe originally appeared on topspeed.com on Monday, 6 February 2012 10:00 EST.

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Posted on 02.6.2012 09:00 by Kirby Filed under: Ferrari | racing prototype | formula 1 | Cars | Car Reviews | Ferrari

A few days after McLaren F1 presented their 2012 Formula One race car, the MP4-27, the Prancing Horse from Maranello has decided to unveil their 2012 F1 race car. Called the F2012, the race car is the fifty eighth F1 car Ferrari has ever built, and is arguably the most advanced race car it has ever developed.

As far as all the changes that have been done to the car to accommodate for new regulations, the F2012 was fundamentally and meticulously revised, most specifically the height of the front section of the chassis, the position of the exhaust pipes, and the re-tweaking of the car’s electronic engine management system.

According to the folks over at Ferrari, the F2012 comes with a revised suspension lay-out with both the front and rear ends featuring pull-rods that were designed to improve the car’s overall aerodynamic performance. The F2012 also comes with a stepped nose that was designed to follow new requirements set out to lower the front end of the car, while the front wing was developed from the one that was used in the 150º Italia - last year’s F1 race car.

Other important modifications include a redesigned side that improves the car’s side impact structures. Similarly, the radiators on the race were also repositioned while the lower part of the rear of the car was designed to be narrower and more tapered, allowing for improved aerodynamics and mechanical enhancements. Last, the rear wing is also similar to the one used in the 150 Italia and is still fitted with a drag reduction system.

As far as the engine on the car is concerned, the F2012 will carry a revised version of the 150 Italia’s 2.4-liter V8 engine to accommodate new technical regulations that are being enforced for the 2012 season. Ferrari will also be using the KERS system, which maintains its low location in the car while also cutting down on its weight and improving its overall efficiency.

Ferrari F2012 Formula 1 Race Car originally appeared on topspeed.com on Monday, 6 February 2012 09:00 EST.

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Rapper Flavor Flav is a huge Giants fan and he's thrilled his favorite team won Super Bowl XLVI.