Flooding payouts broke £1bn in 2012

15 February 2013 Last updated at 06:29 ET

Insurers paid out £1.19bn for flood and storm damage in the UK in 2012 – the highest annual figure for five years, an insurance trade body has said.

Some 486,000 claims were made by homeowners, businesses and motorists, according to the Association of British Insurers (ABI).

The average payout for flood-damaged properties was £18,200, the ABI said.

Last year was the second wettest on record in the UK, according to figures from the Met Office.

The total rainfall for the UK during 2012 was 1,330.7mm (52.4in), just 6.6mm short of the record set in 2000.

However, it was the wettest on record in England and Wales.

Claim levels

The ABI, which represents 90% of the UK’s insurance industry, said that flooding struck a number of times during the year.

The total payout was slightly higher than in the year 2000, but was still dwarfed by the £3bn bill from the floods that had such a serious impact on the country in 2007.

Continue reading the main story

1. 2000 – 1,337.3mm

2. 2012 – 1,330.7mm

3. 1954 – 1,309.1mm

4. 2008 – 1,295.0mm

5. 2002 – 1,283.7mm

(Source: Met Office)

The insurance industry faced considerable criticism for its response to those floods, and insurers now often put teams in place in areas that are hit by storms or flooding.

The 1987 hurricane and the storms of 1990 also cost insurers more than last year.

In 2012, insurers received 411,300 claims totalling £690m for damage to homes as a result of floods and storms, the ABI said.

Commercial property accounted for considerably fewer claims, just 47,000, but the value of those claims amounted to £373m.

Insurers handled 26,800 claims for vehicles damaged by the extreme weather, paying out £84m, and 1,200 claims for interruption to business operations, costing them £40m, the ABI said.

“Insurers expect bad weather to strike anytime, anywhere and last year highlighted the vital role insurance plays in helping communities recover from our increasingly volatile weather,” said Nick Starling, the ABI’s director of general insurance.

Cover ‘at risk’

The ABI has been in talks with the government for months searching for a deal to avoid 200,000 homes being left without flood cover.

Many thousands more householders could see premiums rise if no deal emerges.

An existing agreement, reached in 2008, obliges insurers to provide cover for high-risk properties while the government continues to improve flood defences. This arrangement comes to an end in June.

The ABI wants the government to share the financial risk for the areas with the most homes at significant flood risk – defined as a greater than one in 75 chance of flooding in any given year.

The government said it was determined to come up with an affordable solution that did not put an unjustifiable burden on the taxpayer.

BBC News – Business

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Top Money Saving Tips for Energy Users

LONDON, UNITED KINGDOM–(Marketwire – Feb 16, 2013) – Homes across Britain suffered badly last year due to the economic crisis – and with a double-dip recession expected for 2013 there”s no silver lining in sight.

Energy bills are a particular source of bewilderment for most users as energy prices keep rising despite drops in crude-oil prices and many people across the country accepting wage freezes in order to keep their jobs. The ”big 6” energy companies are particularly responsible for this pricing issue but there may be some ways you can beat them at their own game.

With this in mind we”ve put together a few top tips for cutting down your energy bills this winter…

Proper Insulation

Adding proper wall cavity insulation could save you up to £135 per year depending on the age and state of repair of your home. This saving is further extended with proper loft insulation. As around 30% of your homes heat can be lost through the room this insulation could save you up to £175 per year.

Eco Friendly Lighting

Traditional bulbs not only give off a very harsh light they also consume huge amounts of electricity. Modern energy saving bulbs last up to 10 times longer than traditional bulbs and could save you up to £40 over the duration of their lifetime. Now imagine that saving across every bulb in your home and that”s quite a tidy packet you won”t have to spend.

Lower Your Heating

This is a slightly cheeky tip as who are we to say what”s the perfect temperature? However, most people would be quite comfortable with their heating turned down just one or two degrees – which is great news, because for every degree you turn down your heating you could be saving up to 10% off your gas bill.

Replace Your Outdated Boiler

If your boiler is older than 15 years then it almost certainly won”t conform to recent efficiency protocols and it”s probably burning up a lot of your cash. Although the initial investment can cost as much as £1500 (for the average size boiler) with potential savings of up to £230 a year this home improvement will have paid for itself in money savings in around five years. Plus many companies have a boiler exchange/scrappage scheme which might net you as much as £700 towards the cost of your new equipment.

Get a Smart Meter

Not all energy companies provide a Smart Meter but some of the best ones do. A smart meter gives much more accurate readings for your energy usage which means that you”re likely to save money as you won”t have to pay estimated costs anymore. This should certainly save you more than a few pennies in the long run.

About First Utility

First Utility is the UK”s largest independent energy supplier. It supplies gas and electricity to over 180,000 residential and business customers throughout the UK. First Utility is pioneering the use of new technology within the energy sector to empower its customers to control their energy spend. It was also the first UK energy supplier to offer smart meters to all its customers in 2008. In 2012 it launched my:energy, an online analytics service which provides households and businesses with personalised information regarding their energy usage.

Marketwire News Archive – Yahoo! Finance

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G20 defuses talk of "currency war", no accord on debt

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.

Japan's expansive policies, which have driven down the yen, escaped criticism in a statement thrashed out in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.

After late night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.

A draft communique seen by delegates on Friday had steered clear of the G7's call for fiscal and monetary policy not to be targeted at exchange rates but the later version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.

"The language has been strengthened since our discussions last night," Canadian Finance Minister Jim Flaherty told reporters. "It's stronger than it was, but it was quite clear last night that everyone around the table wants to avoid any sort of currency disputes."

The communique, seen by Reuters ahead of publication, did not single out Japan for aggressive monetary and fiscal policies that have seen the yen drop 20 percent.

The statement reflected a substantial, but not complete, endorsement of Tuesday's statement by the G7 nations - the United States, Japan, Britain, Canada, France, Germany and Italy.

"We all agreed on the fact that we refuse to enter any currency war," French Finance Minister Pierre Moscovici told reporters.

NO FISCAL TARGETS

The text also contained a commitment to credible medium-term fiscal strategy, but stopped short of setting specific goals.

A debt-cutting pact struck in Toronto in 2010 will expire this year if leaders fail to agree to extend it at a G20 summit of leaders in St Petersburg in September.

"Advanced economies will develop credible medium-term fiscal strategies ... by the St. Petersburg summit," the communique said.

The United States says is on track to meet its Toronto pledge but argues that the pace of future fiscal consolidation must not snuff out demand. Germany and others are pressing for another round of binding debt-cutting goals.

Backing in the communique for the use of domestic monetary policy to support economic recovery reflected the U.S. Federal Reserve's commitment to monetary stimulus through quantitative easing, or QE, to promote recovery and jobs.

QE entails large-scale bond buying -- $85 billion a month in the Fed's case -- that helps economic growth but creates money, much of which has leaked into emerging markets, threatening to destabilize them.

That was offset in the communique by a commitment to minimize "negative spillovers" of the resulting financial flows that emerging markets fear may pump up asset bubbles and ruin their export competitiveness.

"Major developed nations (should) pay attention to their monetary policy spillover," Vice Finance Minister Zhu Guangyao was quoted by state news agency Xinhua as saying in Moscow.

"Major developed countries' implementation of excessively relaxed currency policy has an influence on the world economy."

Russia, this year's chair of the G20, said the group had failed to reach agreement on medium-term budget deficit levels and also expressed concern about ultra-loose policies that it and other big emerging economies say could store up trouble for later.

Finance Minister Anton Siluanov said a rebalancing of global growth required more than an adjustment of exchange rates.

"Structural reforms in all countries, either with a positive or negative balance of payments, should play a bigger role," he said in an address to Saturday's talks, also highlighting the risk of spillover effects from unconventional monetary policy.

The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since. At successive meetings, Germany has pressed the United States and others to do more to tackle their debts. Washington in turn has urged Berlin to do more to increase demand.

On currencies, the G20 text reiterated its commitment last November, to move towards "exchange rate flexibility to reflect underlying fundamentals and avoid persistent exchange rate misalignments".

"The G7 made a very clear statement this week. I think you'll see the G20 echo what was said, and say that currencies should not be used as a tool of competitive devaluation," Britain's finance minister, George Osborne, said in Moscow.

"Countries shouldn't make the mistake of the past of using currencies as a tool of economic warfare."

(Additional reporting by Randall Palmer, Lesley Wroughton, Tetsushi Kajimoto, Jan Strupczewski, Lidia Kelly, Katya Golubkova, Jason Bush and Michael Martina. Writing by Douglas Busvine. Editing by Timothy Heritage/Mike Peacock)

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Report: Jerry Buss hospitalized with cancer

LOS ANGELES (AP) — Lakers owner Jerry Buss has been hospitalized with cancer, the Los Angeles Times reported Thursday.

The 79-year-old Buss has spent time in the intensive care unit at Cedars-Sinai Medical Center, according to the Times, which quoted Buss' son, Jim, Thursday saying his father was "doing fine." Several current and former Lakers players, including Kobe Bryant and Magic Johnson, have visited Buss.

Team spokesman John Black said the team has no plans to comment on Buss' health out of respect for the family's wishes. Buss spokesman Bob Steiner said information would have to come from the Lakers.

"Dr. Jerry Buss, thinking about u & wish I could be there, get well soon," former Lakers center Shaquille O'Neal tweeted Thursday. "I cant wait 2 see u on 4/2/13 (hash)LoveYou."

The Lakers will retire O'Neal's No. 34 jersey on April 2.

Buss has been hospitalized several times in recent years, including a stint last July for dehydration. He was treated for blood clots in his legs in December 2011.

A former aerospace engineer and real-estate developer, Buss has been a prominent name in American sports since he bought the Lakers, the NHL's Los Angeles Kings and the Forum from Jack Kent Cooke in 1979. Buss immediately transformed the Lakers into the NBA's most glamorous franchise, winning 10 NBA championships under his watch.

The Lakers won five titles in nine years during the 1980s, earning a reputation as basketball's most exciting team with their glamorous Showtime style led by Kareem Abdul-Jabbar and Johnson, who was Buss' first draft pick. O'Neal and Kobe Bryant then led the Lakers to a threepeat from 2000-02 under coach Phil Jackson before Bryant and Pau Gasol won two more titles in 2009 and 2010.

Buss' children moved into leadership roles with the Lakers in recent years. Jim Buss, the Lakers' executive vice president of player personnel and the second of Buss' six children, has taken a leading role in basketball decisions, while daughter Jeanie plays a major role in running the franchise's business side.

Yet Jerry Buss was deeply involved the Lakers' most recent major moves, including the acquisitions of Steve Nash and Dwight Howard last summer, along with the firing of coach Mike Brown and the hiring of Mike D'Antoni early this season.

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What does Kim intend with nuclear test?

STORY HIGHLIGHTS

• North Korea enjoys international community chatter about its nuclear program


• Dates of nuclear test and rocket launch have significance, writes Joo Sung Ha


• Joo works as a newspaper journalist and came from North Korea

Editor's note: Joo Sung Ha is a Seoul-based journalist for Donga Ilbo, a newspaper in South Korea. He graduated from North Korea's Kim Il Sung University and trained as a reservist artillery officer. He has been imprisoned in China and North Korea. This piece was submitted in Korean and has been translated.

(CNN) -- On Tuesday, the international community reacted to North Korea's third nuclear test by calling its action "provocative," while South Korea's foreign minister warned that it was a "clear threat to international peace and security."

It was what Kim Jong Un, the nation's young leader, wanted.

From the North Korean government's view, the more pressure the international community places on its nuclear testing, the better. They enjoy the chatter among the world's leaders and at the U.N. about how North Korea's nuclear program must be stopped at all cost.

Joo Sung Ha defected from North Korea and is a journalist based in Seoul.

On January 23, the North Korean foreign ministry notified that they intended to carry out a test. They also sent photos of Kim Jong Un holding a meeting with senior officials.

If Kim had not acted by going through with the underground blast, it would have appeared that he had succumbed to pressure from the international community. In North Korea the authority of the "king" in the dynasty system cannot be compromised.

The date of the nuclear test -- conducted on February 12 -- is also significant, as it fell just days short of the 71st birthday of Kim's late father, Kim Jong Il, on February 16. Many North Korean events are associated with symbolic dates for the Kim family. On December 12, just days before the first anniversary of Kim Jong II's death, Pyongyang launched its first rocket into orbit -- despite international uproar.

North Korea has staked its pride on these events. Saving face is more important than international sanctions, even if hundreds of thousands of ordinary North Koreans have died of hunger.

Even so, I cannot say the motivation behind North Korea's nuclear test is for Kim's pride alone. It also sends a message to its people that "Kim Jong Un leads the world."

Even with the nuclear test, the government knows that war will not arise. But to its people, it can give the impression that war is impending.

Inheriting his father's position at such a young age -- he's believed to be in his 20s -- many in North Korea may question whether Kim has the clout to lead. But through this test, Kim wanted to send a strong message domestically that he is in charge.

What happens if they do develop an effective nuclear weapon? Does North Korea intend to attack the United States? That is impossible. If North Korea attacks, it will be sent back to the Stone Ages -- the leadership in Pyongyang is well aware of that.

Does this point to an eventual attack on South Korea then? South Korea is protected by a nuclear umbrella -- meaning that the United States will protect it. In return for Seoul limiting its own nuclear weapons capability, Washington offers its protection. If North Korea attacks South Korea, it's effectively an attack on the United States.

Another major reason why North Korea is developing a nuclear capability is that its conventional military is dated and there are doubts about whether it can defend itself. While North Korea has an estimated 1.2 million soldiers, making it the third largest military behind China and United States, this is only a number.

It may be hard to believe but for almost 20 years, there have been continued food shortages in the military, to the extent that as many as 20% to 30% of the armed forces have actually disappeared -- with many deserting their post by way of a bribe to their superiors. Those that do remain in service are often involved in petty crime to get by, such as stealing from the civilian population.

North Korea requires military service for 10 years. During those years, most are discharged without even having fired 30 bullets. Without sufficient fuel for planes, airborne troops have not had much training. In 1990, I stood guard at a post in Pyongyang. The anti-aircraft weapon I used was a 1940s era model from the Soviet Union.

If war is to occur, North Korea could not stand, even for days, and it is well aware of that. But could it count on traditional ally, China, for support?

Starting from Kim Il Sung, the founder of North Korea, the North Korean regime has never fully trusted China. The message that China is a nation that could strike North Korea at the "back of the head" has been passed down over the years to Kim Jong Un, his grandson. Since North Korea cannot count on Beijing fully, it has turned to the nuclear option as a deterrent.

North Korea would not risk a pre-emptive attack on the South, but the Kim dynasty now believes it has a card to protect itself, which is its main objective. For this reason, even if millions of people starve to death in the effects of the harsh sanctions, North Korea will keep trying to develop its own nuclear capabilities.

The opinions expressed in this commentary are solely those of Joo Sung Ha.

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Tesla vs. the ‘Times’: Cars Are Now Gadgets

Late Wednesday night, Tesla Motors (TSLA) issued its much-anticipated response to a scathing New York Times review of its all-electric Model S sedan. In a blog post, Tesla Chief Executive Officer Elon Musk used data logs gathered from the car to accuse reporter John Broder of outright lies. Broder, for example, complained about freezing inside the car, since he had to turn the heating system off to save electricity and keep driving. Balderdash, says Musk: The data show the cabin had an average temperature of 72F for the majority of the trip.

Broder, in a series of posts, has argued that he followed Tesla’s instructions and that the car simply did not handle the cold weather of the Northeast well. He also claims to have been testing not really the Model S itself, but rather the network of free, superfast charging stations Tesla has started putting up around the country. This is how Broder explains away the baffling circumstances in which he didn’t charge the car while spending the night at a hotel.

The tit-for-tat squabble is entertaining. Musk’s data-heavy beatdown, especially, is great reading.

To me, the real takeaway here is that we’ve reached a moment in which the car has turned into a gadget, and we’re seeing the good and bad that comes with that. A lot of the flaws Broder brings up, such as discrepancies between the car’s estimated range vs. the actual range, come down to software issues. The same can be said for many of the gripes from Model S owners, who have seen their 17-inch touchscreen display act funny or their motorized door handles not work quite right.

Tesla’s software is good, but it’s not working perfectly. The company is issuing over-the-air updates that fix many of these problems. One day your door handle doesn’t work. The next day it does. It’s also been issuing updates that, for example, suddenly allow the cars to charge much faster than they could before by taking advantage of new Tesla supercharging technology. This is a strange new world for car owners.

Guys like Broder and many of the Tesla owners obviously want to see the Model S act as billed. And Musk has said the car is not meant to be some grand beta experiment in which people pay $ 100,000 to serve as Tesla’s guinea pigs.

But let’s be clear. The Model S has pushed automotive innovation forward by leaps and bounds. It offers space, speed, and safety in a package that outstrips rivals while also introducing a whole new set of computing and fuel technology. You don’t have to stretch to compare the Model S to Apple’s (AAPL) iPhone in terms of a device changing the rules of engagement in its respective field. And let’s all remember that the iPhone has come with its antenna, map, screen, and other fundamental issues.

We’re used to buying cars that at best stay static over time but usually get worse. The Model S seems more similar to the iPhone. It has the chance of getting better (at least for a while) as flaws get fixed and new features arrive.

Some people are willing to live in this fast-moving, imperfect world. Here in Palo Alto, the Tesla Model S has become a common sighting. This is a place full of early adopters who don’t mind paying extra for the latest and greatest gadget—even if it has some glitches. Tesla only needs to sell about 20,000 people on this premise for the Model S to be wildly successful.

Moving forward, though, the company will have to do much better if it’s to make follow on vehicles like the Model X mainstream. The public wants amazing gadgets but is less tolerant of the types of issues the Model S has seen so far. So here’s Tesla’s real moment to prove it’s more Apple and Silicon Valley than Detroit—and to show the world what technology mettle it’s really got.

Businessweek.com — Top News

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Yen firms as G20 eyed, weak Europe dampens mood

LONDON (Reuters) - The yen firmed on Friday as investors braced for the likelihood of more conflicting comments on currencies from the G20 meeting, while a revival in worries about global economic growth weighed on shares and commodities.

The G20 forum in Moscow is in the spotlight as officials are expected to discuss whether the ultra loose monetary polices of the United States, Japan, Britain and the euro zone depart from the group's commitment to market-driven exchange rates.

The dollar shed 0.5 percent to 92.46 yen, dropping as far as a one-week low of 92.25 yen while the euro fell to a two-week low of 123.10 yen.

The Japanese currency gained some support when a Russian official said drafting the final communique from the G20 meeting was proving difficult, but the text would not single out Japan for criticism.

"There is an issue of 'who started the fire?' You can say that Japan has getting really aggressive but then they might say, well what have Americans done, what about the British and so on," said William De Vijlder, chief investment officer at BNP Paribas Investment Partners.

The yen was also underpinned by expectations that Japanese Prime Minister Shinzo Abe is close to selecting his nominee for Bank of Japan governor. A decision could come in the next few days, sources close to the process told Reuters [ID:nL4N0BF1LS]

Shares were broadly flat with the pan-European FTSEurofirst 300 index <.fteu3> little changed at 1,163.34 points following dismal gross domestic product data from across the euro zone on Thursday.

The surprisingly sharp contraction in the region's economy during the final three months of 2012 has undermined hopes of an early recovery from recession, but also boosted talk that the European Central Bank may have to ease policy further.

Frankfurt's DAX <.gdaxi>, Paris's CAC-40 <.fchi> and London's FTSE <.ftse> were around 0.1 to 0.3 percent lower.

The weaker demand outlook implied by the GDP data sent Brent crude under $118 a barrel and on course for its first weekly loss since mid-January.

Front-month Brent futures LCOc1 fell 30 cents to $117.70 a barrel, while Gold dropped to a six-week low of $1,629.89 an ounce, and was headed for its biggest weekly drop since December.

(Reporting by Richard Hubbard; editing by David Stamp)

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Pistorius charged with murder of girlfriend

PRETORIA, South Africa (AP) — Oscar Pistorius has been charged with the murder of his girlfriend after model Reeva Steenkamp was shot inside the Olympic athlete's home in South Africa.

Police said a 26-year-old male would appear in court later on Thursday. Police in South Africa do not name suspects in crimes until they have appeared in court but police spokesperson Brigadier Denise Beukes said that Pistorius was at his home after the death of Steenkamp and "there is no other suspect involved."

Beukes said the suspect was undergoing blood alcohol and forensic tests and had made a request to be brought to court immediately. Beukes said he would apply for bail, but the South African Police Service would oppose the application.

Beukes said there had been "previous incidents" at Pistorius' home.

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Where's Obama's foreign policy?

By Isobel Coleman, Special to CNN

February 13, 2013 -- Updated 1653 GMT (0053 HKT)

STORY HIGHLIGHTS

• Isobel Coleman: Obama mainly addressed domestic issues: economy, immigration, energy


• He spoke very little about and offered nothing much new on foreign policy, she says


• Coleman: He talked about ending Afghanistan War, spoke briefly about Iran, Syria, China


• Coleman: His reinvigorated free trade agenda seems to be the boldest move

Editor's note: Isobel Coleman is the author of "Paradise Beneath Her Feet" and a senior fellow for U.S. foreign policy at the Council on Foreign Relations in New York.

(CNN) -- President Obama's State of the Union address predictably focused on his domestic priorities.

Immigration reform, a laundry list of economic initiatives including infrastructure improvements (Fix it First), clean energy, some manufacturing innovation, a bit of educational reform and the rhetorical high point of his speech -- gun control.

Isobel Coleman

As in years past, foreign policy made up only about 15% of the speech, but even within that usual limited attention, Tuesday night's address pointed to few new directions.

On Afghanistan -- America's longest war -- Obama expressed just a continued commitment to bringing the troops home, ending "our war" while theirs continues. On Iran, there was a single sentence reiterating the need for a diplomatic solution, which makes me think that a big diplomatic push is not likely. On North Korea, boilerplate promises to isolate the country further after its provocative nuclear test, and on Syria, a call to "keep the pressure" on the regime, which means more watching from the sidelines as the horror unfolds.

Notably, China was mentioned only twice -- once in the context of jobs, and another time with respect to clean energy. Nothing about managing what could very well be this administration's most vexing but critically important bilateral relationship.

Obama's call for a reinvigorated free trade agenda was his boldest foreign policy statement of the evening. He is right to note that free trade "supports millions of good-paying American jobs," but his pledge to pursue a "comprehensive Transatlantic Trade and Investment Partnership" -- a free trade agreement with Europe -- will run into significant opposition from organized labor, especially given ongoing weaknesses in the economy.

Without fast track negotiating authority, the prospects for such a deal are minimal. Fast track authority, which allows the president to negotiate trade deals that Congress can then only approve or disapprove but not amend, expired in 2007, and it would require quite a breakthrough for Congress to approve it again. Still, despite these challenges, an agreement is worth pursuing.

Aside from a free trade agreement with Europe, there was little else in this State of the Union that hinted at foreign policy ambition. But unpredictable events have a way of derailing America's best laid plans to stay above the fray of the world's messiest problems. Who could have predicted just a few months ago that Mali would get a mention in the State of the Union? Iraq -- not uttered once tonight -- could re-emerge as a formidable crisis; Iran, Pakistan and North Korea also have tremendous potential to erupt.

While this administration seems determined to focus inward on getting America's economic and fiscal house in order, I doubt events in the rest of the world will be so accommodating.

Follow @CNNOpinion on Twitter.

Join us at Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Isobel Coleman

Part of complete coverage on

February 13, 2013 -- Updated 1629 GMT (0029 HKT)

After Barack Obama's speech and Marco Rubio's rebuttal, we should have heard from Kim Peters, who has been unemployed for more than a year, says John Sutter.

February 13, 2013 -- Updated 1420 GMT (2220 HKT)

Anne-Marie Slaughter says the hallmark of the 2013 State of the Union address was progressive pragmatism.

February 13, 2013 -- Updated 1755 GMT (0155 HKT)

David Rothkopf says a newly confident and empowered Obama offered an agenda for change and determination to get to the work of governing.

February 13, 2013 -- Updated 1848 GMT (0248 HKT)

CNN invited contributors to weigh in on President Obama's State of the Union address Tuesday night.

February 13, 2013 -- Updated 1859 GMT (0259 HKT)

Jessica Massa says today's romantic landscape is full of ambiguity and gray areas about where any given connection might lead.

February 13, 2013 -- Updated 1752 GMT (0152 HKT)

LZ Granderson: Marco Rubio was set to showcase the new, women-friendly face of the GOP. Too bad he had just cast a women-unfriendly vote.

February 13, 2013 -- Updated 1753 GMT (0153 HKT)

Ruben Navarrette says Sen. Marco Rubio's effective response to the State of the Union showed he is someone to be reckoned with.

February 13, 2013 -- Updated 1415 GMT (2215 HKT)

Matt Welch: The State of the Union laid out an agenda too costly for a country that wants to see what it's getting in return for debt.

February 13, 2013 -- Updated 1653 GMT (0053 HKT)

Isobel Coleman says Obama's speech ignored huge challenges the U.S. faces in the world, ones which could quickly dominate domestic agenda.

February 13, 2013 -- Updated 1417 GMT (2217 HKT)

Presidents once delivered State of the Union only in writing; now they reckon with a stream of social media comments, says Bob Greene.

February 12, 2013 -- Updated 2118 GMT (0518 HKT)

Peter Bergen says the interview with the bin Laden "shooter" adds important detail to the story of bin Laden's final minutes.

February 12, 2013 -- Updated 1700 GMT (0100 HKT)

David Frum says many people want to believe in living alone, without traditional attachments, but is that kind of life best?

February 12, 2013 -- Updated 1612 GMT (0012 HKT)

Timothy Stanley says Pope Benedict XVI, who struggled to reconcile the Catholic Church's relationship with the modern world, embraced the living traditions of the church while attempting to extend its reach.

February 10, 2013 -- Updated 1839 GMT (0239 HKT)

Dean Obeidallah says the CBS dress advisory note to Grammy attendees was hilarious -- and sexist.

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Now You Can Shop With a Single Tweet

This week American Express (AXP) and Twitter announced a partnership to allow people to buy things by tweeting. It works like this: You sync your Amex card to your Twitter account, and then you can start making purchases by putting hashtags in your tweets that correspond with special deals Amex is offering—today as of noon, for example, a limited supply of Kindle Fires, Xbox consoles, and special Donna Karan-designed Urban Zen bracelets, among other items, are on offer. You send your tweet out to your followers—“So excited to wear my Donna Karan Urban Zen bracelet while playing Halo 4!” or something like that—and include the hashtags. Amex sends you a confirmation tweet, and when you respond to it, the transaction is complete.

To paraphrase Marshall McLuhan, the medium of exchange is the message.

There is, at first blush, something conceptually confusing about the whole idea. We tend to think of Twitter as a form of communication, not commerce. Paying by Twitter seems to make as much sense as keeping up with your old college roommate by PayPal. But American Express is betting that there’s a whole market of consumers who treat shopping as a sort of performance, who like spreading the word about good deals and great finds. The kind of people who love explaining how much of a discount they got on their new shoes, or who make “unboxing” videos on YouTube where they spend five minutes unpacking a new tech gadget while narrating the process. Amex is also confident that the rest of us find those people’s advice and tips valuable rather than a nuisance.

According to Leslie Berland, who runs digital partnerships for American Express, that confidence comes from previous collaborations with Facebook (FB), Foursquare, and Twitter itself. (It was possible even before this week to get Amex deals by tweeting hashtags, but you had to go to the store or store website to redeem them.) “Customers loved sharing with other people,” Berland says. “There was so much viral activity, we saw new customers who walked into establishments, and those who redeemed the offers went back again.” She doesn’t provide exact figures but says that Amex customers cumulatively saved millions of dollars on the deals.

The partnership is part of a larger push by social networks into e-commerce, as they take all the information they have about users and try to make money off it. In Twitter’s case, that means taking the web of relationships people have built on the network and using it to push products. The idea is that we’re more willing to pay attention to a plug for something if it comes from someone we have decided, in Twitter’s religion-tinged term, to “follow.” (Twitter doesn’t get a cut of the Amex purchases.)

The big hurdle for this particular endeavor is that Twitter doesn’t have the best reputation for security—Twitter accounts are notoriously hackable. And while that’s a problem when someone commandeers a person’s Twitter account and blasts out a stream of embarrassing tweets, it’s for many people a problem of a different order when credit-card information enters the picture. To allay those concerns, Berland emphasizes that Twitter never gets the credit-card information; it stays with Amex. In addition to the confirmation tweet, Amex sends a confirmation e-mail when a transaction goes through, so if someone does hijack your Twitter account and run up a tab, you’ll know right away.

Berland doesn’t think security concerns will give consumers pause. American Express, she points out, has a very good reputation for keeping customer information safe. “We’re trusted and well-known for safety and security. That’s a very important part of the story,” she says. Whether that can survive a partnership with Twitter remains to be seen.

Businessweek.com — Top News

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