The Malaysian Insider :: Breaking Views
The Malaysian Insider :: Breaking Views |
| App helps bring strangers together over meals Posted: 04 Feb 2013 08:04 AM PST TORONTO, Feb 4 — Looking for new friends or dinner partners? A new smartphone app is designed to help people connect to others to set up groups for dinners. The app, GrubTonight, links hungry and adventurous smartphone users for dinners, fun evenings and friendship. "We wanted to build a real-time spontaneous app where any night of the week you could go out and eat, because you need to eat anyway, and also have a social outing," said Eddy Lu, CEO and co-founder of Grubwithus Inc, an online community for group meals based in Los Angeles, California. Users can browse group dinners through the app, which works with restaurants to fill open seats. Each night there are three prix-fixe group dinners available. Bookings for the meals, which average about US$20 (RM60), are made through the app. The meal includes a shared appetizer, entree and a drink. GrubTonight is available in Los Angeles but the company's other app, Grubwithus, is worldwide and enables users to attend group dinners that are planned several days in advance and revolve around themes. Users are also able to organize their own public or private group dinners using the app. "When you want to create an event you just select one of our partner restaurants and the menu is already taken care of," said Lu. "People need efficient ways just to meet people. It's a good social way to come together and you need to eat three times a day," he said, adding that most users are between 20 and 35 years old. The company has organized meals in more than 50 cities worldwide but the app has been most popular in San Francisco, New York and Chicago. The motivation for Grubwithus, according to Lu, came from the difficulty he faced in meeting new friends and people to do things with in Chicago. "When you go to dinner parties and meet friends of friends that's when you really connect with people because you're sitting beside them for an hour," he said. "We thought that dinner was just such a good way to connect with people and build meaningful friendships." Although it is not a dating app, Lu said that it has played a part in bringing some couples together. GrubTonight is available for iPhones, but web and Android apps are being developed and the company plans to expand GrubTonight to other US cities. — Reuters |
| Gold eases as stocks retreat, dollar strengthens Posted: 04 Feb 2013 07:57 AM PST  Gold players were seen reassessing their positions after last week's mixed US economic data failed to provide a clear direction for the market, analysts said. — Reuters pic Platinum group metals outperformed, with palladium hitting its highest in 17 months and platinum a four-month high, following strong US auto sales reports for January and a downbeat earnings statement from major platinum miner Anglo American Platinum. Spot gold eased 0.1 per cent to US$1,664.55 (RM5,148) an ounce by 1059 GMT, while US gold futures for April delivery were down 0.3 per cent to US$1,665.50 an ounce. In Japan, benchmark gold on the Tokyo Commodity Exchange hit a record high on the back of a weak yen on expectations the Bank of Japan will continue loosening monetary policy. A dip in stock markets and the euro removed some support for gold, while data released Friday showed hedge funds and money managers had slashed gold's net length in futures and options last week on signs of a steadily improving US economy. Its losses were limited by buying interest in Asia as China approached a weeklong Lunar New Year holiday that starts on Saturday, February 9, but traders said this support was likely to be temporary. "Physical demand is reasonably good because the Chinese New Year is round the corner and will continue to hold the market this week, but next week Asian markets will be on holidays and that source of support will disappear," Bernard Sin, senior vice president at MKS Finance, said. "Markets may react dramatically." Gold players were seen reassessing their positions after last week's mixed US economic data failed to provide a clear direction for the market, analysts said. US payrolls numbers surprised to the downside, triggering a US$10 jump in the metal, but these were offset by strong consumer confidence and ISM manufacturing numbers, and comments from a Federal Reserve official suggesting that monetary easing could be scaled back later this year. "The weaker-than-expected Q4 US GDP data served to prove how negative data could quickly push gold prices higher, but equally the absence of both a solid floor set by physical demand and strong investor conviction shows how quickly gains are surrendered," Barclays Capital said in a note. "Gold is without structural support at the moment, but given speculative positioning remains relatively light, weaker-than-expected macro data could quickly spur prices higher amid global balance sheet expansion." PLATINUM, PALLADIUM CLIMB Platinum group metals posted hefty gains after US automakers reported a 14.2 per cent sales increase in January from a year earlier, with a seasonally adjusted annualised rate of sales reaching 15.29 million vehicles. The metals are widely used in auto catalysts to clean up exhaust emissions. Momentum picked up when major producer Amplats revealed a significant full-year loss today. The company has cut its output target to 2.1-2.3 million ounces a year and has slashed capital expenditure by 11 billion rand (US$1.2 billion). It plans to cut capex by 25 per cent over the next decade to 100 billion rand. Spot platinum rose as much as 1.5 per cent to US$1,705.25, its highest in four months, and was last seen at US$1,695.49, up 0.9 per cent. Spot palladium gained as much as 0.7 per cent to US$759.75, its loftiest level since September, 2011, before settling at US$755.22 an ounce, up 0.1 per cent. Platinum has outperformed the rest of the complex with a nearly 11 per cent gain so far this year, followed by a 9 per cent rise in palladium. Gold is down 0.3 per cent - the only precious metal in the red after a 12-year winning streak. The Commitments of Traders data for the week ended Jan. 29 showed platinum net long positions rising by 171,150 ounces to 2.72 million ounces and palladium net long positions up by 357,500 ounces to 2.6 million ounces. "Palladium net long positions continue to reach new highs, running the risk of a pullback," HSBC said in a note. Elsewhere, silver fell 0.8 per cent to US$31.56 an ounce. — Reuters |
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