新闻纵贯线 The Beijing Hour updated 20:00 2014/03/14

 
The Beijing Hour
 
Evening Edition
 
Shane Bigham with you on this Friday, March 14th, 2014.
Welcome to the Beijing Hour, coming to you live from the Chinese capital.
Coming up on our program this evening.
50-thousand square kilometers of ocean surface have been search... still no sign of that missing Malaysian Airlines flight.
A helicopter crash in the east of England has killed four people.
Chinese president Xi Jinping is to attend a nuclear security summit at The Hague later this month.
In business, the Chinese central bank has suspended the use of online credit cards over security concerns.
In sports, Li Na is still in the hunt at Indian Wells.
In entertainment, Rocky Balboa is on his way to Broadway.
 
 
Weather
 
 
Beijing will be clear tonight with a low of 2 degrees Celsius. Sunny tomorrow with a high of 19 degrees.　
Meanwhile Shanghai will be clear tonight, with a low of 7, sunny tomorrow, with a high of 18.
Chongqing will be cloudy, 10 degrees the low, also cloudy tomorrow with a high of 20.
Elsewhere in the world, staying in Asia
Islamabad, rainy with a high of 23.
Kabul, rainy, 9.
Over in Australia
Sydney, sunny, highs of 29.
Canberra, overcast, 27.
Brisbane, sunny, 29.
And finally, Perth will be sunny with a high of 24.
 
 
 Top News
 
 
China continues search for missing jet
 
Chinese search forces have scoured more than 50 thousand square kilometers of surface waters for the missing Malaysian plane, but no debris from the craft has been found.
Authorities say 8 Chinese vessels have also searched more than 3,000 square kilometers of waters underneath the surface.
China's Foreign Ministry spokesman Hong Lei.
"The Chinese government and people are concerned about the missing Malaysian jet. We are still paying attention to that sea area and Chinese passengers on board the missing jet. Recently, the Foreign Ministry and relevant departments have been coordinating and intensifying search efforts, as well as reassuring relatives of the passengers. Relevant operations are underway. "
Earlier officials from the transport department said the Chinese team will expand its search area and mobilize Chinese merchant ships to join the efforts.
The massive international search is now in its 7th day, involving over 80 ships and planes from 12 different countries.
Foreign Ministry spokesman Hong Lei again calls on the Malaysian side to step up search efforts.
"So far, the missing jet has not been found yet. Relatives of the passengers on board the jet and Chinese people are anxious. We have called on Malaysia to take responsibility for coordinating international search efforts, enhancing collection and research of information, and intensifying coordination of the parities involved, in order to carry out search operations efficiently. We have also called on Malaysia to keep all parties updated regarding search efforts in the Strait of Malacca and Andaman Sea."
As the search expands to include the Indian Ocean, Malaysian authorities and the airline itself have continued to deny reports that the missing plane may have continued flying for some time after last contact.
For more information, we have spoken earlier with Nadiah Abdul Aziz, a journalist based in Kuala Lumpur.
…
That is Nadiah Abdul Aziz, a journalist based in Kuala Lumpur
 
Four dead as civilian helicopter crashes in thick fog
 
A helicopter crashed in thick fog on Thursday in the east of England, killing four people.
Inspector Louis Provart, Norfolk Police, is part of the investigation team.
"The adverse weather conditions are plain to see, it is extremely foggy. However, whether that was a cause for the helicopter coming down, I would not speculate or want to speculate at this time."
Norfolk police has refused to release any further details of the deceased until the next-of-kin has been notified.
All four people onboard were been pronounced dead at the scene.
 
 
6 dead in knife fight in China market
 
Police say a fight between two street peddlers has sparked a knife attack in the central Chinese city of Changsha, leaving a total of 6 people dead.
One of the peddlers was killed by the other in the initial fight.
The attacker ran off, stabbing and killing two other people. He injured two others before being shot and killed by police.
The two injured victims later died in hospital.
 
 
Chinese president to attend nuclear summit, visit Europe
 
Chinese President Xi Jinping is to attend the Nuclear Security Summit to be held in The Hague later this month.
The Foreign Ministry says the president will also pay state visits to the Netherlands, France, Germany and Belgium from March 22 to April 1.
During the period, Xi Jinping will also visit the headquarters of the UN cultural organization UNESCO in Paris and the European Union headquarters in Brussels.
 
 
Fresh clashes between anti and pro-Russia protestors kills one in Ukraine
 
Hundreds of anti and pro Russia demonstrators have clashed in the eastern Ukrainian city of Donetsk.
One death has been reported so far.
A dozen people were hurt in the clashes.
Tensions have escalated all over Ukraine ahead of the referendum on March 16, which will decide whether Crimea will join Russia.
Western observers have arrived at a Ukraine-Russia border checkpoint in the Donetsk region.
The multi-national group is made up of military experts from the Organisation for Security and Cooperation in Europe.
They arrived in the region as 12 US F-16 fighter jets were dispatched to Poland to take part in military exercises at Lask air base.
At an emergency UN Security Council meeting on the situation in Ukraine on Friday morning, Prime Minister Arseny Yatseniuk again denied the legitimacy of the referendum.
"Crimea was, is, and will be, an integral part of Ukraine. We will never recognize any kind of handmade, artificial and falsified so-called referendum."
Russia's ambassador to the United Nations has told the Security Council that Moscow "does not want war" with Ukraine.
Vitaly Churkin says the Kremlin doesn't want any further exacerbation of the situation.
Russian President Vladimir Putin is also on recording saying that the current situation in Ukraine is its internal issue.
Russian authorities have said they will respect the results of the referendum, though the Kremlin has yet to officially say how it intends to respond to the outcome.
U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov are preparing for a key meeting in London on the situation in Ukraine.
For more on that, we spoke earlier with Gao Fei, Associate Professor at China Foreign Affairs University.
…
That is Gao Fei, Associate Professor at China Foreign Affairs University.
 
 
Moscow sends humanitarian aid to Crimea's Sevastopol
 
Moscow is sending humanitarian aid to the Crimean city of Sevastopol, where Russia's Black Sea Fleet is based.
A senior official says the shipment, on 60 heavy trucks, is loaded with 20 buses, 12 utility vehicles and ambulances, school equipment, 20 tonnes of medicine, and 500 units of medical equipment.
In addition, 10 trolley buses have been sent by rail.
The cargo is being accompanied by Russian Emergency Ministry workers on its 17-hundred kilometre trip, which will bypass Ukraine and enter Crimea by ferry across the Kerch strait.
 
 
Clashes in capital as Maduro says six held over violence in Valencia
 
Venezuelan president Nicolas Maduro has announced that six people have been arrested, after the National Guard searched the central city of Valencia for those responsible for Wednesday's violence that left three dead.
'We are pursuing the capture of several paramilitary groups, at least three paramilitary groups operating under the political control of Pablo Aure (Secretary of the University of Carabobo) in Valencia. I say it publicly to ask the support of all the people of Carabobo, Valencia and throughout the country. "
Security forces have increased their presence in Valencia, monitoring vehicle traffic and removing barricades.
On Thursday, student protesters clashed once again with security forces in the capital Caracas.
The government says the unrest has left at least 25 dead since 12 February.
 
 
Brahimi fears Syria presidential elections could torpedo future peace talks
 
The United Nations-Arab League mediator for Syria has warned that if the Syrian government went ahead with presidential elections, the opposition would probably refuse to participate in a new round of peace talks.
Lakhdar Brahimi commented after briefing the UN Security Council.
"If there is an election, my suspicion is that the opposition, all the oppositions, will probably not be interested in talking to the government."
Brahimi has asked members of the UN Security Council for help if and when there is a third round of talks in Geneva.
"But we would like the help of the council and of all those who can help to make sure that, if and when we have the third round, it will be a little bit more productive than the second round."
At the latest round of talks last month, Brahimi told both sides to hold parallel talks on terrorism, which is a major concern for the government.
He also called for talk on the establishment of a transitional governing body for Syria, as agreed to by the major powers at a Geneva conference in June 2012.
 
Chinese super rich investing overseas property market
 
Anchor:
A British real estate consultancy has revealed in its latest report that Chinese ultra-wealthy people have been increasingly more engaged in overseas real estate investment in recent years.
Jordan Lee has more.
Reporter:
In China, the number of Ultra High Net worth Individuals, those with 30 million US dollars or more in net assets, has risen fast in recent years.
According to statistics made by Knight Frank, the number has reached nearly 8,000 this year.
And this group of people is keen on real estate investment in both domestic and overseas market.
Thomas Lam, Director and Head of Research & Consultancy, Greater China, Knight Frank,
"Ultra-wealthy people in Chinese mainland are keen on real estate investment. According to our statistics, over 30 percent of their wealth is invested in this sector."
Influenced by strict property-purchasing limitation policies in major Chinese cities, more and more people in this group have turned their eyes into overseas real estate market.
Thomas Lam,
"In 2013, major overseas real-estate investment destinations for Chinese Ultra High Net Worth Individuals are Britain, Canada, Australia, as well as Malaysia."
However, with Canada suspending its favorable investment immigration policies earlier this year, ultra-wealthy people in China might have to turn to other investment destinations in 2014.
Maureen Yeo is Knight Frank's Associate Director of International Project Marketing in Beijing,
"Canada suspended its favorable immigration policies for Chinese investors earlier this year. Though Australia has issued more lucrative immigration policies to attract Chinese investors, its threshold is still very high—5 million Australian dollars at least. Thus I believe in 2014, small West European countries such as Spain, Portugal, Cyprus and Malta are even better choices for Chinese private investors. "
Even in major western countries such as Britain and the US, second-tier cities have become a wiser choice for Chinese private investors.
Michelle Zhang, Knight Frank's Head of China Desk in London,
"Housing prices in first-tier cities such as London and New York are soaring in recent years. Properties in these cities are more suitable for the investment from large real estate companies with a strong financial capability. I suggest private investors go to second-tier cities such as Birmingham, Manchester and Houston, which is more suitable for private investment."
Though Chinese ultra-wealthy community is investing heavily in overseas real estate market, its quantum is still very small compared with domestic properties investment.
Knight Frank's Head of Research, Asia Pacific, Nicholas Holt,
"I think it's a question of quantum in many ways. Yes Chinese are investing overseas. There's a surge of capital in China. People are looking to diversify. But still the number is quite small. Even the total quantum of investment into these markets, compared with the quantum of investment into Chinese real estate market here, is pretty small."
Therefore, huge potential of Chinese overseas real estate investment is lying ahead.
It's estimated China's Ultra High Net Worth Individuals population will grow by 80 percent to over 14,000 by 2023.
BACK ANCHOR:
That is CRI's Jordan Lee reporting
 
 
Biz Reports
 
 
Stocks
 
Asian stocks slumped as refreshed fears over the Ukraine crisis overpowered positive US retail data. Meanwhile, disappointing data from China further dampened investor sentiment.
The Shanghai Composite Index dropped 0.7 percent
The Shenzhen Component Index shed 1.1 percent
Over in Hong Kong, the Hang Seng lost 1 percent, ending the biggest weekly decline since May 2012, signaling the beginning of a bear market.
Tencent shares in Hong Kong dropped 4.1 percent at close in the wake of China's suspension of virtual credit cards.
Elsewhere in Asia,
Japan's Nikkei lost 3.3 percent, led by car makers.
Singapore's Strait Times Index shaves off a quarter of a percentage point
South Korea's Kospi lost 0.8 percent
Finally Australia's ASX 200 slid by 1.5 percent, led by raw material producers responding to slowing growth in China.
 
 
People's Bank of China suspends online credit cards
 
The People's Bank of China has suspended the use of online credit cards and payments via code scanning.
An official said on Friday that the decision owed to concerns over security.
Zhou Jinhuang, vice director of the PBOC's payment and settlement department, confirmed that a notice has been issued to Tencent and Alipay.
The suspension of online credit cards and payments by scanning a bar or QR code is said to be a temporary measure aimed at safeguarding consumer interests.
China CITIC Bank announced on Tuesday to partner with Tencent and Alipay under Alibaba to issue online credit cards based on code scanning payments.
Shares in CITIC slumped 7 percent on the Hong Kong exchange before trading was halted.
 
 
Baoding Tianwei to make bond payment in July
 
Solar-cell maker Baoding Tianwei has confirmed that it will make a bond payment in July.
This is inspite of concerns about the company's finances.
The company says that it will pay interest due on July 11 on its 5.75 percent 2018 notes.
However, securities brokers say that this is not a sign that the company will be able to repay its other debts.
Baoding Tianwei has at least 26.8 trillion yuan ($4.3 billion) of laons due by the end of 2018, according to data compiled by Bloomberg.
Tha manufacturer also has a large amount of short-term debts, which totalled 3.9 billion yuan as of the end of last year.
Trading in the company's July 2018 bonds were ceased in March after the company posted a second straight year of losses in 2013.
 
 
Corporate News Roundup
 
Anchor:
Let's check out some other events on the corporate front in China this week.
CRI's Paul James earlier spoke to Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
…
That was CRI's Paul James earlier speaking to Doug Young, associate professor at Fudan University and former China company news chief at Reuters.
 
 
China's central bank drains liquidity via repo
 
The People's Bank of China is moving to suck some liquidity from the system.
China's central bank has conducted a forward repurchase of 100 billion yuan from the system yesterday.
The 28-day repo, at a yield of 4 percent, together with another 100 billion yuan in repos on Tuesday, has resulted in a net capital withdrawal of 40 billion yuan from the banking system this week.
Yesterday's repo is the 8th time the central bank has moved to drain liquidity since February 18th, repurchasing a total of 565 billion yuan during this period.
The money market rates are running quite low right now, suggesting there is abundant liquidity in the banking sector at the moment.
The Shanghai Interbank Offered Rate, or Shibor, a gauge of interbank borrowing costs, is currently below 2-percent.
The 7-day return rate is currently at around 2.5-percent, meaning banks have to pay relatively little to borrow money from other lenders to pay down their daily obligations.
 
 
Consumer complaints surge 14 percent in China
 
Chinese consumers lodged 1 million complaints with a government-sponsored hotline.
This is a 14 percent year on year increase, as more consumers are reporting businesses for illegal practices.
The reports have helped the Administration for Industry and Commerce to identify cases of consumer rights infringements and illegal advertising.
More than 400,000 cases involved companies without business licenses and 131,800 cases infringed upon consumers' rights, the report said.
Authorities helped consumers recover 1.3 billion yuan (211.91 million U.S. dollars) of losses last year.
The complaints hotline 12315 is a nationwide service and also includes an online platform.
 
 
U.S. retail sales up 0.3 percent in February
 
New data shows US retail sales have rebounded in February after two straight months of declines.
The U.S. Department of Commerce is reporting combined retail sales in February have increased 0.3 percent, after falling by a revised 0.6 percent in January.
The figure has topped economists' forecast of 0.2 percent.
Retail sales are up 1.5 percent over the past 12 months.
Consumer spending accounts for about 70-percent of the United States' economic growth.
 
 
Airline industry rebound in US
 
U.S. airlines carried a total of 743.1 million passengers in 2013 as the industry rebounds.
This is up 0.9 percent over the previous year and the highest annual total since 2008.
The passenger volume rose nearly 1 percent even though the number of flights operated by U.S. airlines declined 1.4 percent last year.
 
 
 Headline News
 
 
China continues search for missing jet
 
Chinese search forces have scoured more than 50 thousand square kilometers of surface waters for the missing Malaysian plane, but no debris from the craft has been found.
Authorities say 8 Chinese vessels have also searched more than 3,000 square kilometers of waters underneath the surface.
China's Foreign Ministry spokesman Hong Lei again calls on the Malaysian side to step up search efforts.
The massive international search is now in its 7th day, involving over 80 ships and planes from 12 different countries.
As the search expands to include the Indian Ocean, Malaysian authorities and the airline itself have continued to deny reports that the missing plane may have continued flying for some time after last contact.
 
 
Ukrainian leader orders investigation after deadly clashes in Donetsk
 
Ukrainian authorities has ordered an investigation into the death of a protester during clashes in the eastern city of Donetsk.
The violent clashes between pro-Russia and pro-Ukrainian demonstrators also left 26 people from both sides injured.
Tensions have escalated all over Ukraine ahead of the referendum on March 16, which will decide whether Crimea will join Russia.
Meanwhile U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov are holding talks in London on the situation in Ukraine.
China's United Nations ambassador has called for political and diplomatic means to resolve the Ukraine crisis.
Liu Jieyi was speaking at a Security Council meeting on Ukraine, saying the situation there remains highly complex and sensitive.
The Chinese ambassador added that China is open to any proposals and suggestions that could help ease the tension.
 
 
Pakistani court issues un-bailable arrest warrant for Musharraf
 
A Pakistani court has issued a non-bailable arrest warrant for former military ruler Pervez Musharraf.
This, after the former president once again failed to show up in court, where he is to stand trial on a charge of high treason.
The three-member bench had summoned Musharraf to be formally indicted on the treason charge.
Musharraf's defense says the former leader has been unable to appear in court in person because of threats to his client's life.
The court has ordered Musharraf to appear on March 31st. He is to be arrested if he refuses.
 
 
People's Bank of China suspends online credit cards
 
The People's Bank of China has suspended the use of online credit cards and payments via code scanning.
An official said on Friday that the decision owed to concerns over security.
Zhou Jinhuang, vice director of the PBoC's payment and settlement department, confirmed that a notice has been issued to Tencent and Alipay.
The suspension of online credit cards and payments by scanning a bar or QR code is said to be a temporary measure aimed at safeguarding consumer interests.
China CITIC Bank announced on Tuesday to partner with Tencent and Alipay under Alibaba to issue online credit cards based on code scanning payments.
Shares in CITIC slumped 7 percent on the Hong Kong exchange before trading was halted.
 
 
Newspaper Picks
 
 
CRIENGLISH.com
"Consumer law aims to protect private information"
China's new Consumer Protection Law is to take effect on Saturday.
The policy stipulates that it is the responsibility of commercial firms to protect customers personal information.
The measure is aimed at relieving the public from being bombarded by teleadvertisers.
According to the new law, operators must obtain customer's approval before using his or her personal information.
And the only usage must be explicitly permitted by the consumer in question.
Companies are also forbidden from selling someone's personal information or use it for commercial purposes without permission from the customer.
However, public sentiment over this issue does not seem particularly strong.
A survey conducted by the Chinese Academy of Social Sciences revealed that only 4 percent of respondents would complain or sue over the abuse of personal information, while a mere 8 percent of these complainants succeeded or received compensations.
(Perhaps this is out of the difficulty of actually build successful cases regarding personal information abuse due to the lack of policy in the past)
Xinhua
"China offers rewards to protect endangered porpoises"
Locals in east China's Jiangxi Province who volunteer to rescue Yangtze finless porpoises, a rare freshwater mammal, will be rewarded with cash.
Authorities on Thursday said residents who report that Yangtze finless porpoises are injured or in dangerous conditions and help rescue them will be rewarded with 300 yuan.
Those who report clues, or the death of the endangered mammal, to the fisheries bureau are entitled to a 100-yuan reward.
Poyang Lake, in Jiangxi Province, is home to half of the species' population, estimated at only about 1,000.
A 2013 report by the Ministry of Agriculture said the porpoise population has been decreasing nearly 14percent every year, twice the rate reported before 2006.
News.com.au
"How your personality affects your health"
A new study suggests your personality could have an impact on your health.
Specifically, conscientious people have a lower risk of having health problems a decade later than their less-conscientious peers, and highly-neurotic people are more likely to consider themselves as having poor health.
The study, published in the Journal of Personality and Social Psychology, included examination of the "Big Five" personality traits: extroversion, conscientiousness, agreeableness, neuroticism and openness to experience.
The study included over 1,000 people from a New Zealand study who were born between 1972 and 1973 and were followed by researchers until they were age 38.
Researchers found associations between personality and health at age 38. Just 18 per cent of the people who were the most conscientious in the study developed health problems — such as inflammation, hypertension, overweight and high cholesterol — at age 38, compared with 45 per cent of the least conscientious people.
 
 
Special Reports
 
 
Wor Ingestible Technology
 
Anchor:
Doctors may soon be able to monitor whether their patients take their medicine properly using a sensor which can be put in a tablet and swallowed.
Surgeons in the UK are conducting a trial to test the new device.
Li Dong has the details.
Reporter:
We can become forgetful about taking the odd tablet here and there, but some patients have serious conditions and taking the right multiples of pills at the required times before or after meals can be important to the effectiveness of their medication.
So a pill which can send the doctor messages about how their patients are consuming their drugs can be very helpful.
A group of doctors in the UK is now trying out an innovative new pill created by a biotechnology company in California.
The pill contains a minute sensor the size of a poppy seed. It's made of copper and magnesium, which are digestible, and a small bit of silicon.
When swallowed with prescription medicine, the metals react with the patient's stomach fluid and power the sensor. The sensor then sends a message to a patch on the abdomen, recording the time the medication was taken.
It uses wireless technology to send the data to a digital device belonging to a doctor, carer or even a family member.
General practitioner Dr. Peter Godbehere is among the doctors who have been using the pill:
"In medicine people quote figures of around 40% or more of treatments that we give out aren't taken according to how we prescribe them and that often gives us a clinical difficulty."
Godbehere says he is using this technology as part of a trial for hypertension.
"If we had these sensors in all the regular medication, I know it seems a bit big brother, but we can be sure that people are taking products in the best way."
The technology is in the early stages of use in the UK but it is hoped it could save NHS England money through better-targeted treatment.
Doctors like Godbehere believe it may have potential for use with Alzheimer's patients and people with heart disease as they have to take pills everyday.
For CRI, I am Li Dong.
 
 
Sports 
 
 
Pennetta beat Stephens to set up semifinal clash against Li Na
 
Tennis action at the Paribas Open in California,
Top seed Li Na now knows who her semifinal opponent will be. Italy's Flavia Pennetta dispatched American Sloane Stephens in three sets 6-4, 5-7, 6-4 today.
The 32-year-old Pennetta has become the first Italian to reach the semifinals at Indian Wells.
She is also attempting to lift her tenth singles title.
World number two Li Na moved into the last four after she won the Australian Open final rematch against Slovakian Dominika Cibulkova earlier in the day.
The other women's semifinal has Simona Halep of Romania taking on Poland's Agnieszka Radwanska.
And in women's doubles, China's Zheng Jie and Peng Shuai have both advanced to the semifinals with their respective partners.
In the men's draw,
Ukraine's Akexandr Dolgopolov will go up against world number five Roger Federer in the first semi-final later today.
Second seed Novak Djokovic takes on Frenchman Julien Benneteau for his semifinal berth.
Another semifinal ticket will go to the winner between American John Isner and Latvian Ernests Gulbis.
 
 
Juventus held to a 1-1 by Fiorentina while Robin van Persie wants to stay at Man U for good
 
European football news,
First from Europa League action,
Italian Serie A leaders Juventus was held to a 1-1 draw by Fiorentina in the first leg of their last 16 draw.
Juventus beat Fiorentina 1-0 four days ago in the domestic league.
Another Italian side, Napoli, suffered a 1-0 defeat at the hands of Portugese side FC Porto.
Elsewhere, French Ligue One side Lyon came from a goal down to beat Viktoria Plzen 4-1.
English Premier League Tottenham however now see their hopes of making into the last eight in tatters after they were beaten by Benfica 3-1.
Off the pitch,
Manchester United striker Robin van Persie said he would like to see his career ended in a Man U jersey, indicating the Dutchman wants to extend his current contract with David Moyes' side.
Meantime, Bayern Munich president Uli Hoeness said he is to resign in the wake of his three and a half year sentence for tax evasion.
Hoeness also said he will not appeal against the verdict.
 
 
Lewis Hamilton heads Mercedes team-mate Nico Rosberg in second practice in Australia
 
In Formula One, Lewis Hamilton took first, Nico Rosberg second, giving Mercedes one-two finish in the second practice session at the season-opening Australian Grand Prix.
Their performance reinforced the general belief that they are the favorites for this year's championship.
Earlier, Hamilton spoke postively about the vehicle and Formula One's rule change.
"So far I mean it is what it is, so it doesn't really matter whether you like it or you don't, you just have to adjust to it and maximise and do the best job you can with it. Everyone is in the same boat. So, you know, I'm actually quite liking it - the car, the engine feels good, the package we have. I mean it's different to drive, the tyres are a little bit different, the powertrain and all those different things are different so it's still exciting."
Ferrari's Fernando Alonso took third while last year's champion Sebastian Vettel was fourth.
Red Bull's performance proved they have made significant progress since the final pre-season test two weeks ago.
But Red Bull's principal, Christian Horner, admitted his team could underperform this weekend.
"it is going to be a tough weekend for us in all reality. I think it is the first time we have come here without the expectation of being a front-runner. Certainly over the last five years. The regulation changes are pretty significant and particularly with the power-train. Quite openly we are behind where we want to be and where our opponents are and we are working really hard to get back into a competitive state."
Vettel has dominated Formula 1 since winning his first championship in 2010. The German said he doesn't rule out a fifth successive title this year.
 
Bulls rally past Rockets while Thunder wallop the Lakers
 
Onto basketball,
Three games in the NBA this morning,
In Chicago, Mike Dunleavy caught an elbow and suffered an injury before scoring 21 points to rally the Bulls past the Houston Rockets 111-87.
Dunleavy received 10 stitches during the game, in which Chicago center Joakim Noah flirted with a triple double, finishing with 13 points, 10 rebounds and nine assists.
Reserve guard Jeremy Lin led the Rockets with 21 points, but this is the second straight loss for his team.
Over in Oklahoma City, Kevin Durant poured in 29 points as the Thunder walloped the L.A. Lakers 131-102.
It's the 30th straight game for Durant to scored over 25 points in a single match.
That's the longest stretch of his career and represents the most by an NBA player since Michael Jordan put together 40 straight games of scoring a minimun of 25 points back in 1986-87.
It's the Thunder's sixth home victory in a row.
Jodie Meeks led Los Angeles with 19 points.
More bad news for the Lakers, after the franchise shut down Kobe Bryant's remiander of the season, they have also sideline Steve Nash for his lingering back issue.
And down in Atlanta, the Hawks managed to fight off the Milwaukee Bucks 102-97.
 
Guangdong failed to make into the playoff finals for the first time in 13 years
 
And last night in the CBA playoffs,
The Beijing Ducks have advanced to the finals, taking the all-important fifth and deciding game in their semifinal series against the Guangdong Southern Tigers.
Beijing playmaker Stephon Marbury scored 31 points to bring Beijing a 110-102 victory.
Former NBA player Yi Jianlian led the Southern Tigers with 30 points and 9 rebounds.
The loss was a huge blow for Guangdong, who won the regular season and have made it into the playoff finals for the last 12 consecutive years.
Beijing will be seeking their second CBA title, taking on the Xinjiang Flying Tigers.
The first game of the best of five final series gets underway in Urumqi on Wednesday.
 
 
 
Entertainment
 
 
Tragedy at South by Southwest festival leaves 2 dead and 23 injured
 
Tragic news comes from the South by Southwest festival in Austin, Texas, USA today.
Two people have died and 23 others have been injured after a suspected drunk driver smashed through police barriers and drove down a crowded street.
South by Southwest is an annual music, film, and interactive conference and festival that attracts hundreds of thousands of people who come out to watch shows on the streets at all hours.
The driver hit multiple pedestrians on a block filled with concert-goers. He eventually crashed and tried to run away, but he was tazered and taken into police custody.
Art Acevedo is the Austin Texas Police Chief :
"I can just tell you that it's clear to me from what I've seen that those are the actions of an individual that showed no regard for the human beings that he plowed through in his attempt to get away."
The driver, whose name also has not been released, faces two counts of capital murder and 23 counts of aggravated assault with a vehicle. Acevedo said it was an "intentional act," and that the suspect has been booked. Formal charges will be filed this afternoon.
 
 
Lu Chuan joins LeVP
 
"Nanjing! Nanjing!" director Lu Chuan announced on Thursday that he is joining Le Vision Pictures, or LeVP. His upcoming films will all be produced by LeVP.
Lu recently attended the 2014 Le Vision Pictures Summit with famous Chinese film director Zhang Yimou, who was the first film director to sign a contract with the company. Lu has admitted that Zhang's 1987 film, "Red Sorghum," had significant influence on his dream of being a film director.
"I could not even stand up when the film was over. At the end of the film, the screen was red. There was a child crying, "Mom! Mom!" and it made such a strong impression on me. I realized film was more powerful than literature. The film 'Red Sorghum' changed my dream."
LeVP hopes to produce 15 films and generate at least 3 billion yuan in box offices this year.
 
 
Rocky Balboa comes to Broadway
 
The legendary story of Rocky has now taken Broadway by storm. Sylvester Stallone, who wrote and starred in the 1976 Oscar-winning film "Rocky," created a two-act musical that opened in New York on Thursday night.
The production took Stallone over 14 years to bring to the stage and first opened in Hamburg, Germany in 2012. Stallone says the process was an uphill battle but that the difficulty was what makes the victory so much more rewarding.
The musical follows the story of amateur boxer Rocky Balboa who is tapped to fight heavy weight champ Apollo Creed. As he begins to train for the fight, which he is not expected to win, he falls for his friend's sister Adrian.
Though it may seem that Rocky's story wouldn't work with songs and dance numbers, Stallone says it adapted naturally to the musical theater stage.
"When I was writing it I use to think about these like Marty and Mean Streets and West Side Story. And I always saw them as kind of poetic street characters, so I thought this would be a natural - but no one else did."
The musical stars Andy Karl as Rocky and newcomer Margo Seibert makes her debut as Rocky's love. "Rocky on Broadway" is playing at the Winter Garden Theater in Manhattan, New York.
 
Elizabeth Olsen reportedly engaged
 
Elizabeth Olsen is reportedly engaged to 32 year-old Boyd Holbrook, making her the second Olsen sister to receive a ring. Holbrook popped the question to the "Martha Marcy May Marlene" star during a recent trip to Paris.
The couple has been spending a lot of time together and moved in with one another in Brooklyn. Both are entertainers, with Holbrook best known for his role in the 2008 film "Milk." Olsen and Holbrook met in 2012 on the set of the movie "Very Good Girls."
Elizabeth's sister and "Full House" alum Mary-Kate Olsen went public with her own engagement to French banker Olivier Sarkozy just two weeks ago. Her twin, Ashley, is dating "Moneyball" director Bennett Miller. Both twins have stirred up media attention with the large age difference between themselves and their significant others.
 
 
That’s it for this edition of the Beijing Hour.
A quick recap of headlines before we go.
50-thousand square kilometers of ocean surface have been search... still no sign of that missing Malaysian Airlines flight...
A helicopter crash in the east of England has killed four people...
Chinese president Xi Jinping is to attend a nuclear security summit at The Hague later this month...
In business, the Chinese central bank has suspended the use of online credit cards over security concerns...