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Monday, November 28, 2011
Latest developments in Arab world's unrest (AP)
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EGYPT
Egyptian security forces clash with protesters camped outside the Cabinet building, leaving one man dead, as tensions rise two days ahead of parliamentary elections being held despite mass demonstrations against military rule.
Also, Egyptian state TV says Field Marshal Hussein Tantawi, the head of the ruling military council that took over the government after Hosni Mubarak was ousted in February, meets separately with opposition leader and Nobel Peace laureate Mohamed ElBaradei and presidential hopeful Amr Moussa, who was the former head of the Arab League.
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SYRIA
Syria buries 22 members of the armed forces, including six elite pilots, as the government reinforces its message that the 8-month-old revolt against President Bashar Assad is the work of terrorists and foreign agents, not patriotic Syrians seeking reform.
Also, an Arab League committee agrees on a draft of recommended sanctions against Syria, including halting cooperation with the nation's central bank and halting flights to the country. The 22-nation body will vote on the recommendations Sunday in Cairo.
Activists say at least 13 civilians are killed, 12 of them in the flashpoint Homs province. The British-based Syrian Observatory for Human Rights says 10 soldiers were killed in overnight clashes with defectors in the country's east.
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MOROCCO
An Islamist party is set to get first crack at forming the next government after winning the largest bloc of seats in parliamentary elections.
With about two-thirds of all results in, the Justice and Development Party has taken 80 seats out of 282 so far announced. A total of 395 seats were up for grabs in the nationwide vote a day earlier.
Barring a massive upset, the PJD ? known by its French initials ? will be the largest party in the new parliament and charged with forming a new government ? making another Islamist victory in an election brought about by the Arab Spring.
The second place finisher, Istiqlal, was far behind with 45 seats.
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YEMEN
Yemen's vice president calls for a presidential vote to be held on Feb. 21 in line with a power-sharing deal aimed at ending the country's nine-month political crisis.
Yemen's SABA state news agency says Vice President Abed Rabbo Mansour Hadi has issued a decree setting the date for the vote after Saleh authorized "the vice president the constitutional authorities to carry out dialogue with the parties that signed the Gulf initiative."
It says no party has the right to annul or change this decree.
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MOF's Nakao: Japan prepared to help Europe if needed (Reuters)
TOKYO (Reuters) ? Japan wants Europe to make efforts to stabilize markets unsettled by the continued euro zone debt crisis and Tokyo is prepared to offer help if needed, Japanese currency tsar Takehiko Nakao said on Monday.
Nakao, the vice finance minister for international affairs also told a financial forum that a unilateral currency intervention could not be ruled out in a speculative market.
Tokyo has intervened to weaken its yen three times this year - once with the help of Group of Seven nations in March and then on its own in August and October when the yen scaled new highs against the dollar.
(Reporting by Yoshifumi Takemoto; Editing by Edwina Gibbs)
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Pakistan buries troops amid fury over NATO strike (Reuters)
PESHAWAR, Pakistan (Reuters) ? Pakistan on Sunday buried 24 troops killed in a NATO cross-border air raid that has pushed a crisis in relations with the United States toward rupture.
The attack was the latest perceived provocation by the United States, starting with the secret raid which killed al Qaeda leader Osama bin Laden in May, and the question is whether ties will break or whether the two sides will remain stuck in a bad marriage of convenience.
NATO helicopters and fighter jets attacked two Pakistan military outposts on Saturday, killing the soldiers in what Pakistan said was an unprovoked assault.
NATO and U.S. officials expressed regret about the deaths of the Pakistani soldiers, but the exact circumstances of the attack were unclear.
"U.S. stabs Pakistan in the back, again," said a headline in the Daily Times, reflecting fury over the attack in Pakistan, a regional power seen as critical to U.S. efforts to stabilize neighboring Afghanistan.
Television stations showed the coffins of the soldiers draped in green and white Pakistani flags in a prayer ceremony at the headquarters of the regional command in Peshawar.
Pakistan shut down NATO supply routes into Afghanistan - used for sending in nearly half of the alliance's land shipments - in retaliation for the worst such attack since Islamabad uneasily allied itself with Washington following the September 11, 2001, attacks on the United States.
That is unlikely to cool tempers in a country where anti-American sentiment runs high even when ties between Islamabad and Washington are smooth.
About 500 members of Jamaat-e-Islami, Pakistan's most influential religious party, staged a protest in Mohmand tribal area, where the NATO attack took place.
"Down with America" and "Jihad is The Only Answer to America," they yelled.
Around 40 troops were stationed at the outposts t the time of the attack, military sources said. Two officers were reported among the dead.
"They without any reasons attacked on our post and killed soldiers asleep," said a senior Pakistani officer, requesting anonymity.
BLUNT STATEMENTS
The border is often poorly marked, and Afghan and Pakistani maps have differences of several kilometers in some places, military officials have said.
Pakistan responded with unusually blunt statements condemning the incident as a violation of its sovereignty and it reserved the right to retaliate.
Pakistan is a vital land route for nearly half of NATO supplies shipped overland to its troops in Afghanistan, a NATO spokesman said. Land shipments account for about two thirds of the alliance's cargo shipments into Afghanistan.
A similar incident on Sept 30, 2010, which killed two Pakistani service personnel, led to the closure of one of NATO's supply routes through Pakistan for 10 days. NATO apologized for that incident, which it said happened when NATO gunships mistook warning shots by Pakistani forces for a militant attack.
U.S. efforts to repair ties with Pakistan have suffered several big setbacks starting with the unilateral U.S. special forces raid that killed bin Laden in a Pakistani town where he had apparently been living for years.
Pakistan condemned the secret operation as a flagrant violation of its sovereignty, while suspicions arose in Washington that members of Pakistan's military intelligence had harbored the al Qaeda leader.
The military came under unprecedented criticism from both Pakistanis who said it failed to protect the country and American officials who said bin Laden's presence was proof the country was an unreliable ally in the war on militancy.
Pakistan's army, one of the world's largest, may see the NATO incursion from Afghanistan as a chance to reassert itself, especially since the deaths of the soldiers are likely to unite generals and politicians, whose ties are normally uneasy.
Pakistan's jailing of a CIA contractor, Raymond Davis, and U.S. accusations that Pakistan backed a militant attack on the U.S. embassy in Kabul have added to the tensions.
"From Raymond Davis and his gun slinging in the streets of Lahore to the Osama bin Laden incident, and now to the firing on Pakistani soldiers on the volatile Pakistan-Afghan border, things hardly seem able to get any worse," said the Daily Times.
Islamabad depends on billions in U.S. aid and Washington believes Pakistan can help it bring about a peace in Afghanistan ahead of a combat troop withdrawal at the end of 2014.
"The fact is that such incursions of our sovereignty have become routine and we have become so dependent on the U.S. that we just have to grin and bear it," said an editorial in Pakistan's Express Tribune.
(Additional reporting by Zeeshan Haider in Islamabad and Ijaz Mohmand in Peshawar; Writing by Michael Georgy; Editing by Chris Allbritton)
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Sunday, November 27, 2011
Volt battery inquiry begins
For General Motors Co., the Chevrolet Volt may be generating the wrong kind of spark.
Federal officials on Friday launched a formal safety defect investigation into GM's plug-in hybrid vehicle after crash tests on several Volts and their batteries resulted in fires. In one case, a fire that started in one of the test vehicles consumed three others parked nearby.
The National Highway Traffic Safety Administration said it was "concerned" that damage to the Volt's batteries sustained in tests designed to replicate real-world crash scenarios resulted in the vehicles' catching fire.
The agency said it was too soon to say whether the probe would lead to a recall of the vehicle or any of its parts but vowed to "take immediate action" if it found any unreasonable safety risk. Measures would include notifying consumers and ensuring that GM communicates with Volt owners.
The investigation comes as GM has pushed for wider adoption of the plug-in hybrid, which according to the Environmental Protection Agency gets an equivalent of 93 miles per gallon. GM has sold more than 6,000 Volts since the car was rolled out in December 2010. The Volt, which won the Green Car of the Year award at the Los Angeles Auto Show last year, is designed to run off its batteries for about 40 miles. When the batteries run low, a gasoline engine kicks in and functions as a generator, powering electric motors and extending the range of the sedan to more than 300 miles.
Analysts said that the investigation could lead to increased consumer skepticism about electric vehicles, which have been slow to catch on in the mainstream because of concerns about cost-effectiveness, and how far the vehicles can travel before recharging.
"It's a technology-laden car, and there are still issues with batteries," said Dave Sullivan, an analyst at consulting firm AutoPacific, noting that the Volt uses the same type of lithium-ion batteries found in consumer electronics products such as laptops that have been known to overheat. "GM's going to have to reopen their safety book to prove that these vehicles are indeed safe."
GM acknowledged the investigation, saying it was "not unexpected" and that the company had been working with NHTSA to reproduce the problem for months. The company said that Volt owners who have not been involved in a severe accident have nothing to worry about.
"The Volt is a safe car," said Greg Martin, a spokesman for GM. "What occurred was what all parties set out to do, and that was to subject the battery in a laboratory setting to some of the most extreme circumstances to get it to fail."
GM and NHTSA will examine data from the tests to attempt to determine the precise cause of the fires.
The latest tests were part of an initial probe begun after NHTSA found a Volt it had crash-tested in May caught fire three weeks later.
In a series of follow-up tests, NHTSA subjected three additional Volt batteries to a crash simulation last week, intentionally damaging the cars' battery compartment and rupturing their coolant lines. One battery caught fire about a week after the test. A second vehicle's battery "began to smoke and emit sparks" just hours after the impact, the agency said.
GM stock rose 0.49%, or 10 cents, to $20.34 during regular trading, before NHTSA's announcement.
david.sarno@latimes.com
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India minister: New retail policy has safeguards (AP)
NEW DELHI ? India's commerce minister said Friday that the decision to open the country's $400 billion retail sector to global chains such as Wal-Mart has a built-in safety net for small shops and farmers.
Anand Sharma told reporters that the Indian cabinet's decision late Thursday allowing 51 percent foreign ownership of supermarkets would vastly improve decrepit infrastructure that causes massive food waste in a country plagued by malnutrition and high inflation.
Sharma said the new rule would only apply in cities with more than one million people. The minimum investment would be $100 million and half of this would have to be invested in rural infrastructure and refrigerated transport and storage. Thirty percent of the produce sourced by the retailer would also have to come from small and medium enterprises.
Top retailers such as Wal-Mart and Tesco have lobbied for years for a chance to build stores in the nation of 1.2 billion people and political deadlock on long-promised reforms in retail and other areas has helped cool foreign investor interest in India. Foreign retailers have Indian partners in wholesale operations, but no retail stores.
The Cabinet also allowed 100 percent foreign ownership of single-brand retail operations, up from 51 percent.
Advocates see the move as a way to strengthen India's creaking food distribution system.
The country suffers chronically high malnutrition and soaring inflation, but it's not for lack of food. It is the world's second largest grower of fresh produce, yet loses an estimated 40 percent of fruit and vegetables to rot because of a lack of refrigerated trucking and warehouses, poor roads, inclement weather and corruption. That translates into lower incomes for farmers and higher prices for consumers.
If companies like Wal-Mart and Tesco can open shops of their own, the investments they make in improving farming techniques and getting produce into stores more efficiently, could bring down food inflation and possibly improving rural incomes.
Sharma said the policy would have a "multiplier effect" and tens of millions of people would gain jobs.
Analysts say India's darkening economic prospects gave fresh urgency to the decade-long talks on opening up India's retail sector. Many see Thursday's move as an attempt by the ruling Congress Party to reassert its leadership, which has been weakened by corruption scandals, soaring inflation and slowing growth.
"When the government's credibility seems to be under significant question, this is one way to give a message that the government is still in business and it means business," said Arvind Singhal, chairman of retail consultancy Technopak Advisors.
The cabinet this month also indicated that it is open to allowing 26 percent foreign investment in pension fund management ? another headline item in the Congress Party's promised second wave of economic reforms, which follow a round of liberalization forced by a balance of payments crisis in the early 1990s.
The central bank has raised interest rates by 5.25 percentage points over the last 18 months but that hasn't been enough to control runaway inflation or the rupee's freefall. Food inflation, which quickly becomes a political issue in India, has been bouncing into the double digits since 2008 and now stands at 9.1 percent.
"Monetary policy interventions have not been able to control inflation," Singhal said. "Now they have to look into supply side policy, which could have an impact."
International investors, who have grown increasingly wary of corruption, surprise tax bills and shifting regulations in India, have also put pressure on the government to make good on old promises to grant them greater access.
Rajan Bharti Mittal, vice chairman and managing director of Bharti Enterprises, said Friday that the retail move was a "major landmark in India's economic reforms process."
Bharti's joint venture with Wal-Mart has 13 wholesale outlets in India and sources produce from thousands of farmers.
"We have always stated that development of organized retail in India will bring immense benefits across the value chain ? from farmers to small manufacturers and above all to consumers, while creating enormous employment opportunities at the bottom of the pyramid," Mittal said in a statement.
Wal-Mart, British-based Tesco PLC and French-based retailer Carrefour welcomed the decision.
"This legal evolution should contribute to modernize the Indian food supply chain and to fight against food inflation for the benefit of Indian customers," Carrefour said in a statement.
The change, which does not require approval by India's fractious Parliament, was opposed by the Trinamool Congress Party, a key partner in the ruling coalition, and the main opposition BJP party. The country has struggled to find consensus because of concerns that competition from the foreign retail giants could hurt millions of small shopkeepers, as well as the poor.
Sharma said the new policy had been reached through a "transparent and democratic process of consultation with all the stake holders."
India's $400 billion retail sector is the nation's second-largest employer, after agriculture, according to consulting firm Deloitte.
Ashish Sanyal, managing director of retailing consultancy AMP Retail Services, said small businesses had nothing to fear from the big chains.
"At the end of the day this is like the high tide. All boats will rise. We will learn from the big retailers," he said.
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AP Business Writer Erika Kinetz in Mumbai contributed to this report.
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Saturday, November 26, 2011
Video: Nightly News Now: November 26
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Source: http://video.msnbc.msn.com/nightly-news/45446884/
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Sinkhole swallows teen on street corner
By msnbc.com staff
Houston-area residents have to wonder if they'll be next after a teen who was standing on a street corner was swallowed by a sinkhole that opened suddenly when an underground?water main burst.
Giovanni Long, 16, told khou.com that he fell several feet and was under water for about 15 seconds as he tried to claw his way out of a hole 6 feet deep and 10 feet wide as he was walking in Kleinwood, a suburb northwest of downtown Houston.
"Everything beneath me crumbled," he told the website after?the Monday afternoon incident. "I didn't know what to do."
"I was trying to dig my way out of the hole, but the ground kept breaking back into me,"?added Long, who finally got out with a few scratches on his back and a sprained ankle. "It's funny now that I think about it ... but when it happened, it was actually scary."
Why the 12-inch water line broke wasn't?determined, but?it's possible that recent rain after months of drought caused the ground to shift.
The drought itself caused daily water main breaks across Houston. Msnbc.com reported during the height of the drought last summer about some 700 daily reports coming in.
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The true cost of homeowners insurance | Property Claim Tips, LLC
When taking into consideration the cost of having homeowner insurance, you really need to ?consider the cost of NOT having homeowner insurance as well. Here, we will weigh both.
The cost of a homeowners insurance policy: A lot of factors go into determining what a particular homeowner will pay for a home insurance policy these days. A few of these include:
- The replacement cost of the home (square footage multiplied by local construction costs)
- Average rates in that state as determined by the state department of insurance
- The amount of additional coverage needed (liability, endorsements for jewelry, etc.)
- The types of discounts that a particular policyholder may qualify for
These are just a few of the elements of a policy that will affect how much an individual homeowner will pay for home insurance. In a recent release of our monthly RateReport, we found that homeowners were paying $730/year on average ?in May 2011. While this may not be typical of all homeowner policies, it does give us a good benchmark.
And while some will be paying around $730/year for their home insurance, others will be paying considerably more or less. For example, in May 2011 in Idaho, HomeInsurance.com customers were paying an average of $369/year. On the other hand, homeowners in Louisiana were paying an average of $1543/year during the same time period. As you can see, the specific U.S. region that your home is located in can greatly affect what you pay for insurance.
In addition to geographic rate trends, additionally purchased coverage can also affect your premium. For example, flood insurance is required by most lenders on homes that are located within a high-risk ?flood zone. Flood coverage is not included in a standard homeowners insurance policy and an additional policy must be purchased to cover a home for flood damage. According to the National Flood Insurance Program (NFIP) website FloodSmart.gov, the cost for a flood policy can range anywhere from a few hundred dollars to a few thousand dollars a year depending on the flood zone and replacement cost of the house.
Homeowners may also add additional coverage to their standard home insurance policy which can increase their premium. For example, some homeowners schedule?endorsements?on an existing policy increasing their coverage limits on specific items like jewelry. In addition, some homeowners may purchase additional liability coverage (aka an umbrella policy) to protect them financially in the event of a lawsuit.
So is there an easy answer to how much home insurance costs? Not really, because it all depends on the property being insured, the needs of the policy holder, and the region where the property resides.
However, as a baseline figure, we can estimate that homeowners across the U.S. are paying roughly $730 on average for standard homeowners insurance coverage each year.
The cost of not having home insurance: As mentioned earlier in the article, it is only fair when weighing the cost of home insurance to also consider the cost of NOT having homeowners insurance. In the Insurance Information Institute?s report on homeowners insurance data for 2008, it is stated that in the six year period between 2005 and 2009 5.7 percent of insured homes experienced a claim. It also shows that the average claim cost ranged from $1,940 to $27,691 with the average claim being around $7,876.
Without homeowners insurance, you are responsible for paying for all damages to your home caused by fire, lightning, wind, hail and theft. Keep in mind that disasters can strike at any time and without any warning.
In order to be properly insured at all times, ask a licensed insurance agent to review your needs as a policyholder and be sure your policy best protects you. If you are looking to save money on your homeowners?insurance, don?t skimp on coverage. Instead,when shopping for home insurance quotes, ?talk to your insurance agent about qualifying for discounts such as home-auto packages and security system discounts which can save you up to 20% or more.
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Source: http://www.propertyclaimtips.com/the-true-cost-of-homeowners-insurance.html
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Friday, November 25, 2011
After Ohio State Clobbers Michigan, Cuddle Up With Professor Feynman
It's Thanksgiving weekend, so when you're footballed up, (or is it footballed out? Or maybe you're football indifferent?) whatever you are, here's a nice way to spend five minutes: Cuddle up with the great physicist Richard Feynman and hear him talk about beauty, curiosity and ? most important of all ? about doubt. Doubt is what drives Feynman's game. And boy oh boy, he's got game ? plus, the pictures are beautiful.
If you like this one, there are more. There's Feynman on curiosity and Feynman on honors. And, if they'd make it, I'd buy tickets to Feynman on Anything.
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India opens door to foreign supermarket chains (Reuters)
NEW DELHI (Reuters) ? India threw open its $450 billion retail market to global supermarket giants on Thursday, approving its biggest reform in years that may boost sorely needed investment in Asia's third-largest economy.
The world's largest retail group, Wal-Mart Stores Inc, and its rivals see India's retail sector as one of the last frontier markets, where a burgeoning middle-class still shops at local, family-owned merchants.
Allowing foreign retailers to take stakes of up to 51 percent in supermarkets would attract much-needed capital from abroad and ultimately help unclog supply bottlenecks that have kept inflation stubbornly close to a double-digit clip.
"I think it will have a very deep and long- lasting impact on the Indian landscape," Raj Jain, CEO of Wal-Mart India, told CNBC TV18. "I think it will redefine the way consumers shop in India, but more importantly the way supply chains in India run."
Under fire for a slow pace of reform, Prime Minister Manmohan Singh's embattled government appears to be slowly shaking off a string of corruption scandals to focus on policy changes long desired by investors.
"This is a very bold move and the economic reforms process is back on track." Rajan Mittal, vice chairman of India's Bharti Enterprises, which is Wal-Mart's partner, told reporters.
Millions of small retail traders vigorously oppose competing with foreign giants, potentially providing a lightning rod for criticism of the ruling Congress party ahead of crucial state elections next year.
Food Minister K.V. Thomas said the government will allow foreign direct investment of up to 51 percent in multi-brand retail - as supermarkets are known in India. It will also raise the cap on foreign investment in single-brand retailing to 100 percent from 51 percent, he added.
The new rules may commit supermarkets to strict local sourcing requirements and minimum investment levels aimed at protecting jobs, according to local media.
A heavyweight member of Singh's coalition government warned on Thursday it totally opposed opening the sector.
The move is politically risky.
Fears of potential job losses could heighten popular anger at the Congress party ahead of key state polls next year that will set the stage for the 2014 general election.
But slowing growth and investment in India, with the rupee currency around historical lows and government finances worsening, may have spurred the government into action.
"Manmohan Singh, after all the scams and the impression of government paralysis, has realised it's time to take some bold steps. This is a very bold step that will please the middle class," said political analyst Amulya Ganguli.
POLITICAL OPPOSITION
India previously allowed 51 percent foreign investment in single-brand retailers and 100 percent for wholesale operations, a policy Wal-Mart and rival Carrefour, among others, had long lobbied to free up further.
"For international retailers, it will open up a $1.6 trillion market growing at 8-9 percent so it's a big business opportunity for all of them," said Thomas Varghese, CEO of Aditya Birla Retail, an Indian supermarket chain.
Indian retailers have operated supermarket chains in India for years, but their expansion has been hampered by a lack of funding and expertise as well as poor infrastructure which makes the cold storage of food transported around the country practically impossible.
Political opponents of the proposal, with an eye to the ballot box, argue an influx of foreign players - which could include Carrefour and Tesco Plc - will throw millions of small traders out of work in a sector that is the largest source of employment in India after agriculture.
India's biggest listed company, Reliance Industries, was forced to backtrack on plans in 2007 to open Western-style supermarkets in the state of Uttar Pradesh after huge protests from small traders and political parties.
The main opposition Bharatiya Janata Party (BJP) opposes opening up the retail sector, arguing that letting in "foreign players with deep pockets" would bring job losses in both the manufacturing and service sectors.
"Fragmented markets give larger options to the consumers. Consolidated markets make the consumer captive," the BJP's leaders of the upper and lower houses of parliament said in a statement before the decision. "International retail does not create additional markets, it merely displaces (the) existing market."
(Additional reporting by Nigam Prusty and Krittivas Mukherjee; Editing by John Chalmers)
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Asian shares, euro fall on Europe deadlock (Reuters)
TOKYO (Reuters) ? Asian shares and the euro both hovered near seven-week lows on Friday as European officials failed to soothe investor fears that the euro zone's debt crisis could trigger a credit crunch if funding costs run out of control.
MSCI's broadest index of Asia Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4 percent on Friday, hovering near a seven-week low hit the day before. Japan's Nikkei (.N225) opened down 0.3 percent on Friday, hitting a fresh two-and-a-half-year low, but was later trading flat.
European shares fell for the sixth consecutive session in low volume on Thursday while Wall Street was shut for the Thanksgiving holiday.
With European policymakers struggling to break out of the deadlock and no convincing progress in sight over the euro zone debt crisis, investors were shunning riskier assets and selling assets normally perceived as safe to raise cash or cover losses.
France and Germany agreed on Thursday to stop bickering openly over whether the European Central Bank should do more to rescue the euro zone from a deepening sovereign debt crisis, while expressing their backing for Italian Prime Minister Mario Monti in his task of overcoming the country's massive debt burden.
French President Nicolas Sarkozy also said Paris and Berlin would circulate joint proposals before a December 9 European Union summit for treaty amendments to entrench tougher budget discipline in the 17-nation euro area.
But with market seeking actions rather than rhetoric, sentiment remained highly risk-averse as Germany stood firmly opposed to the creation of joint euro zone bonds or boosting the ECB's role in solving the fiscal problems of individual euro zone members.
"Disappointment that officials continue to tinker with the trivial rather than consider the bold pushed risk appetites lower and increased the downside risks to the outlook for the European sovereign debt crisis," said Besa Deda, chief economist at St. George Bank in Sydney.
Funding stresses for European banks escalated, with the cost of swapping euros into dollars in the currency swap market rising to fresh three-year highs of 148 basis points on Thursday.
The ECB is looking at extending the term of loans it offers banks to 2 or even 3 years to try to prevent the euro zone crisis precipitating a credit crunch that chokes the bloc's economy, people familiar with the matter say.
The euro hovered near a seven-week low against the dollar on Friday, trading at $1.3329, not far from Thursday's low of $1.3316.
Commodity currencies, a gauge of risk-taking, struggled, with the Australian dollar down 0.2 percent to $0.9705 and not far from a seven-week low of $0.9664 set earlier in the week.
A day after weak demand for a German bond auction shocked global markets and fueled fears the crisis may be hurting Europe's economic powerhouse, the closely-watched German Ifo business climate index on Thursday bucked expectations and showed a rise for November for the first time since June.
German government borrowing costs stayed elevated, with 10-year German government bond yields rising as high as 2.14 percent on Thursday to their highest in nearly a month.
The premium investors demand to hold Portuguese government bonds over German Bunds rose on Thursday after Fitch downgraded Portugal's rating to junk status.
Sentiment was cautious in Asian credit markets, with spreads on the iTraxx Asia ex-Japan investment grade index little changed on Friday.
Japanese government bonds fell, with the benchmark 10-year yield rising 2 basis points to 1 percent. Spot gold fell 0.1 percent to $1,692.20 an ounce, after falling to a one-month low of $1,665.88 earlier this week.
(Additional reporting by Ian Chua in Sydney)
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Thursday, November 24, 2011
Snowy landing for Soyuz spacecraft
Shamil Zhumatov / Reuters
An aerial view shows vehicles with their headlights on converging on the Soyuz TMA-02M after the spacecraft landed near the town of Arkalyk in northern Kazakhstan on November 22.
NASA via Getty Images
Russian support personnel help get Expedition 29 crew members out of the Soyuz TMA-02M spacecraft shortly after the capsule landed.
Shamil Zhumatov / Reuters
ISS crew member Russian cosmonaut Sergey Volkov smiles after landing.
The AP reports:
After spending nearly six months aboard the International Space Station, three spacefliers returned home to Earth on Monday.
NASA astronaut Mike Fossum, Japanese astronaut Satoshi Furukawa and Russian cosmonaut Sergei Volkov departed from the space station and landed on the frigid, windy Central Asian steppes of Kazakhstan at about 9:26 p.m. ET Monday (8:26 a.m. local time Tuesday).
After months in orbit, the crew's homecoming featured wintry conditions, with harsh winds, below-freezing temperatures and a layer of snow covering the landing site. When it touched down, the Soyuz capsule landed on its side, which is not uncommon in windy conditions, NASA officials said; otherwise, it was a smooth and successful landing. Continue reading.
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Sergei Remizov / AP
Ground personnel carry Japanese astronaut Satoshi Furukawa from the Soyuz capsule minutes after landing.
Previously on PhotoBlog:
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Merkel rejects Commission push for eurobonds (AP)
BERLIN ? German Chancellor Angela Merkel rejected a new push by the European Commission for bonds issued jointly by the 17 euro nations, saying Tuesday they wouldn't resolve the debt crisis and now is the wrong time to discuss them.
She appeared to be joined in her resistance to immediate talk of so-called "eurobonds" by eurozone chief Jean-Claude Juncker and Herman Van Rompuy, president of the European Council, which is made up of the 27 European Union heads of government.
Van Rompuy's comments appeared to show a difference in emphasis between himself and Jose Manuel Barroso ? the president of the Commission, the EU's executive branch.
Barroso is expected to call strongly on Wednesday for eurobonds as an effective way to combat the debt crisis. But Van Rompuy said such sharing of public debt could be imagined only as the end result of a long process such as that which created the euro currency itself.
Merkel dug in on her resistance to calls for an instant solution to the crisis hours after the Commission's top economic official tried to sell Germany on Brussels' drive for eurobonds ? which he now titles "stability bonds."
The chancellor noted in a speech to Germany's main employers' association that eurobonds "have just come very much back into fashion."
But she was unbending in her opposition, saying that what's important is to address shortcomings in the construction of the eurozone ? and raising doubt over whether there would be any point to eurobonds if those are resolved.
"If at all, this discussion belongs at the end ? so I don't find it particularly fitting that we are now once again conducting it in the middle of the crisis, as if it were the answer to this crisis," Merkel said. "In the long term, it isn't."
In Luxembourg, new Greek Prime Minister Lucas Papademos said eurobonds "could provide a means that will help us to address the problems" ? but he added that "their effectiveness has to be seen in a broader context of economic policy."
But Juncker said he didn't view the proposed bonds as a solution for "the short-term problems we have to resolve."
Van Rompuy took the same line, though he said pooled public debt could be considered as one tool among many ? when the time was right.
"It is clear that, to be feasible, preconditions will have to be met in terms of fiscal positions and strict fiscal rules," Van Rompuy said.
"This is why all those forms of mutualization of public debt could only be envisaged as the outcome of a process with different phases and criteria, as it was for the process leading towards the euro itself."
Germany, Europe's biggest economy, fears that pooling debt would drive up its own borrowing costs, expose its taxpayers to the bad debt of weaker countries, and remove incentives for struggling nations to get their finances in order.
Merkel also underlined her resistance to growing calls for a major bond-buying campaign by the European Central Bank as a way of relieving pressure on other countries' borrowing costs.
"There is no way it will work, at least not for a longer period ? because, of course, following massive buying ... as a political solution to this crisis, after a while people would realize that what is on the European Central Bank's books has to be recapitalized by someone," she said.
Germany believes strongly that the bank should concentrate on fighting inflation; it worries that massive bond-buying could fuel price pressures as well as reducing pressure on debt-burdened partners to reform.
"Again and again, there's a search for the answer that will bring a fast, immediate end to the whole crisis of confidence in the euro," Merkel said. "And I say yet again: there won't be one."
Merkel said lost confidence can't be restored "purely financially" and that Europe needs a "coherent political answer." She renewed her call for a "step-by-step" approach and for quick changes to the EU treaty to strengthen the eurozone.
Earlier, EU monetary affairs commissioner Olli Rehn had sought to convince the same conference in Berlin that eurobonds wouldn't simply create excuses for Europe's strugglers to shirk tough austerity measures ? though he acknowledged the "sometimes strong opposition."
He said any type of eurobonds would have to go hand in hand with substantially reinforced fiscal surveillance and policy coordination to avoid free riding.
A leading German opposition politician noted that Berlin has already retreated from several red lines during the crisis.
"With a view to further developments, I would advise being very cautious in ruling out instruments that we might ? hopefully won't ? need," Peer Steinbrueck said.
Steinbrueck, who was Merkel's finance minister in a previous coalition government, is now among favorites to be her center-left challenger when Germany next votes in 2013.
___
Don Melvin in Brussels contributed to this report.
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GPS tracking: Supreme Court must protect Americans from Orwellian control
This term the Supreme Court will decide whether the warrantless GPS monitoring of an individual?s car violates the Fourth Amendment.?The court?s answer must be a resounding yes.
The specter of an Orwellian world in which Americans? every movement is monitored is no longer a chimera. It is upon us.
Skip to next paragraphThis term the Supreme Court will decide whether the warrantless GPS monitoring of an individual?s car violates the Fourth Amendment. The court?s answer must be a resounding yes.
The Fourth Amendment generally requires officers to obtain a search warrant from a judge prior to performing an invasive search or seizure. The threshold for a warrant is minimal: Officers must show probable cause, defined as a reasonable belief, that a crime was committed. This mandate protects individuals from over-zealous officers and provides officers with an objective perspective on the efficacy of their investigations.
A GPS tracking device should only be employed after probable cause is established and a warrant secured. The government contends that Americans forfeit their privacy whenever they enter the public domain and that GPS technology can be used before probable cause is established. However, this?would allow individuals to be targeted without any established factual cause, obliterating longstanding notions of privacy that Americans regard as sacrosanct.
Absent the requirement of a warrant, a single officer could surreptitiously affix a GPS device to an individual?s car and observe its movements for weeks or months on end. Activities once thought private ? health choices, religious affiliations, political associations, romantic liaisons ? would become a matter of public concern, traceable by police.
Worse, unchecked GPS surveillance may chill such activities. Freedom sometimes presupposes anonymity. Indeed an individual contemplating a trip to the abortion clinic, treatment at a drug rehabilitation center, or membership in an unpopular political or religious group, may reconsider if that person believes the government could be watching.
That people use public roads, or otherwise enter the public realm, to participate in the political and cultural fabric of society does not mean that they surrender their expectation of privacy. People having to search their vehicles for a tracking device every time they get behind the wheel is antithetical to a democracy committed to protecting individual rights. As Justice Louis Brandeis once famously noted, ?the right to be let alone [is] the most comprehensive of rights and the right most valued by civilized men.?
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The Chromebook Is the Perfect Computer for People Who Fear Computers [ChromeBooks]
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Hezbollah, Iran uncover CIA informants (Reuters)
WASHINGTON (Reuters) ? In an apparently serious setback for U.S. intelligence against a key adversary, Hezbollah, the Lebanese Shi'ite militia, has succeeded in identifying and arresting informants within its ranks who were working for the CIA, current and former U.S. officials said.
Separately, counterintelligence officers in Iran also succeeded in uncovering the identities of at least a handful of alleged CIA informants, the officials said.
Some former U.S. officials said that the CIA informants, believed to be local recruits rather than U.S. citizens, were uncovered, at least in part, due to sloppy procedures - known in the espionage world as "tradecraft" - used by the agency.
But Bob Baer, a former CIA operations officer whose books inspired the Hollywood movie Syriana, said that Hezbollah's counterintelligence capabilities are formidable and should not be underestimated.
"Hezbollah's security is as good as any in the world's. It's the best. It's better than that of the KGB," the former Soviet spy agency, Baer said.
Hezbollah, founded with Iranian help during Lebanon's 1975-1990 civil war, has grown from a militia that fought Israeli forces in south Lebanon into the most powerful political and military force in the country. Hezbollah and its allies dominate the Lebanese government formed in June.
Baer said one reason Hezbollah has been successful in rooting out spies is that it is so powerful it has forced Lebanese government security forces to hand over sensitive communications and spy gear supplied by the U.S. government. Hezbollah then used this U.S. equipment to identify and track down CIA informants.
U.S. officials were coy about the extent and seriousness of CIA losses. But they said damage to U.S. intelligence was serious enough for extensive briefings and discussions to have been held with congressional oversight committees. A congressional source said any discussions remain classified.
Hezbollah, which the U.S. government labels a terrorist group, and Iran, which it accuses of developing a nuclear weapon and sponsoring attacks on U.S. troops in Iraq, are major targets of interest for U.S. spy agencies and the White House.
There was no word about the unmasked operatives' fate.
The CIA declined to comment on the latest developments. Agency spokesman Preston Golson said the CIA "does not, as a rule discuss allegations of operational activities."
However, U.S. officials explicitly denied a claim, reported by the Los Angeles Times on Monday, that CIA operations in Lebanon have effectively been crippled due to Hezbollah's
actions.
Nonetheless, U.S. officials confirmed to Reuters that some CIA informants assigned to gather information on Hezbollah and the government of Iran had been compromised, and that any such losses are considered damaging to U.S. intelligence collection efforts.
'EXTREMELY COMPLICATED ENEMY'
"Espionage has always been a perilous business. Collecting sensitive information on adversaries who are aggressively trying to uncover spies in their midst will always be fraught with risk," said one U.S. official, speaking on condition of anonymity.
The official acknowledged: "Hezbollah is an extremely complicated enemy. ... It's a determined terrorist group, a power political player, a mighty military, and an accomplished intelligence organization formidable and ruthless. No one underestimates its capabilities."
During the past year, leaders of both Hezbollah and Iran have publicly touted what they said were successes by their security and counterintelligence forces in uncovering CIA informants.
In June, Hezbollah leader Sheikh Hassan Nasrallah said two of the group's members had been arrested on suspicion of being affiliated with the CIA, and a third was held for working either for the CIA or for European or Israeli intelligence agencies.
In May, Iran's intelligence minister said more than two dozen spies for the United States and Israel had been uncovered. ABC News reported that Iranian TV had broadcast what the U.S. network described as accurate video of websites used by the CIA.
A former U.S. intelligence official who worked in the region said U.S. operatives have been "battling for most of the last decade" in a shadow war with what he described as Hezbollah's extremely effective counterintelligence operatives.
Over the years, Hezbollah has proven persistent, and sometimes successful, both in spotting CIA informants within its ranks and in trying to plant its own double agents on the CIA, the former official said.
One frequent tactic used by the group, the former official said, is to send "walk-in" operatives into U.S. embassies in Middle Eastern and Mediterranean countries claiming to have information about attacks being planned against U.S. targets.
Instead of having information about real attack planning, however, the "walk-ins" use their visits to U.S. embassy buildings to gather information about embassy security measures and procedures which could then be used to plan possible attacks, according to the former official.
(Editing by Warren Strobel and Mohammad Zargham)
(Email: mark.hosenball@thomsonreuters.com)
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Wednesday, November 23, 2011
The Reapers' Game: First Week
The Reapers' Game: First Week.
(Based on The World Ends With You world.)
(Based on The World Ends With You world.)
You have 7 days to live.
You have just died, accepted the challenge to survive seven days to get a second chance in life and paid the entry fee... Something that you hold most dear have been taken away from you, be it memories, objects, looks or anything else. If you win you will get it back.
This is Shibuya's UnderGround(UG) nobody except other Players (Identified by their Player Pin.), Reapers (Identified by black wings.) can see you, except in shops with skull symbols.
One more thing, at the start of each day, you wake up at some random location set by the GM of the week (Usually Scramble Crossing is the location for the first day.), there are certain routes that are locked to keep you on the mission too, some walls can be unlocked by Reapers after completing their side-missions.
The only way to survive the game is by finding a partner and co-operating with them, or you will be erased in a second.
Technical stuff.
In every week there is a Game Master(GM) who sends players their missions for each day. These missions are usually in the form of "Reach X' or 'Clear the X of the Noise'. You have 60 minutes to complete or face erasure - The Reapers." and are send to the players' phones. After receiving the mission mail, a timer shows up on each player's hand.
How does defeating the Noise work? You first scan the area for noise with your Player Pin. Using pins' abilities and fight in teams of two. But, if either partner gets erased, your chances of survival are zero.
What are Noise?
They look like some animals, from frogs to rhinos to mythological creatures, with special traits. They come from negative emotions from the people of Shibuya, there are sometimes a chance for players having to erase noise possessing people.
Now, to the pins.
Pins work like magic abilities in games. From normal fire balls to cutting enemies without weapons to causing earthquakes (They only affect Noise.) The catch is, you are going to have set limit of pins, but the less you have the stronger your pins are. (This is RP only element.)
What powers the Pins is the user's imagination. More imagination means wider array of pins to use.
I'll let you Players either come up with couple pins to use in battle or adapt some of the game's Pins to this RP.
Player Pin: 
Ok now for the spots in the game...
Reapers
Conductor: Nocte
Game Master1: NotAFlyingToy
Reaper 1:
Reaper 2:
Players
1. Nocte.
2. Dragon.
3.
4.
5.
6.
7.
8.
So anyone other interested? I'll send the Reapers some useful links to know what your responsibilities are.
Source: http://feedproxy.google.com/~r/RolePlayGateway/~3/gvHers340zI/viewtopic.php
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Parliamentary Finance Committee Member: Deleting the zeros from ...
Posted: November 21, 2011 in Iraqi Dinar/Politics
21/11/2011 0:00
Showed a member of the Finance Committee and MP for the Kurdistan Alliance Najiba Najib said the project to delete the three zeroes from the currency does not lead to the strengthening of the Iraqi dinar against foreign currencies, saying that a mere formality for the restructuring of the currency.
Said Najib in a press statement yesterday that ?the project to delete the three zeroes from the currency Iraq does not work on increasing the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply,
explaining the project to delete the zeros of the Iraqi currency will make it easier for banks, banks, merchants and owners of large sums of money transfer their money from one place to another contrary to what is it now of the coin current that they are replacing foreign currency,
adding that ?the objective of this project is to restructure the currency and make it more heavily traded by investors and Iraqi banks and stay away from trading in foreign currency being reduced from the cluster?s monetary currency,
and continued on to say: This project presented a proposal by the Bank CBI had not seen the details of the Iraqi parliament to fully whether the meeting occurred only between the administration of the Central Bank and the Parliamentary Finance Committee and confirmed that they intend to implement this project.
http://bit.ly/rClgO0
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Poor recycling of BACE1 enzyme could promote Alzheimer's disease
Monday, November 21, 2011
Sluggish recycling of a protein-slicing enzyme could promote Alzheimer's disease, according to a study published online on November 21 in The Journal of Cell Biology (www.jcb.org).
Abeta, the toxic protein that accumulates in the brains of Alzheimer's patients, is formed when enzymes cut up its parental protein, known as amyloid precursor protein. One of those enzymes is beta-secretase or BACE1. BACE1 cycles between the Golgi apparatus and the plasma membrane, traveling through endosomes on the way. A protein complex called the retromer helps transport proteins back from endosomes to the Golgi. Previous studies have found reduced levels of two retromer components, including the protein VPS35, in the brains of patients with Alzheimer's disease.
To find out whether VPS35 affects Alzheimer's disease progression, Wen-Cheng Xiong and colleagues crossed two mouse lines to create animals that are prone to many symptoms of the disease and generate half the normal amount of VPS35. The mice displayed Alzheimer's-like abnormalities earlier than their parental strains, and their brains accumulated more Abeta.
Cells lacking VPS35 carried extra BACE1 in their endosomes, consistent with a defect in retromer-mediated protein transport. BACE1 is more active in the acidic interior of endosomes than in the more basic surroundings of the Golgi apparatus. Thus, by leaving more BACE1 trapped in endosomes, the decline in VPS35 levels could enhance BACE1 activity and generate more Abeta. Although no VPS35 mutations have so far turned up in Alzheimer's patients, the protein's level in the brain dwindles in aging mice. The researchers suspect that certain Alzheimer's disease risk factors, such as oxidative stress, also diminish VPS35 levels in the brain.
###
Rockefeller University Press: http://www.rupress.org/
Thanks to Rockefeller University Press for this article.
This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.
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Source: http://www.labspaces.net/115359/Poor_recycling_of_BACE__enzyme_could_promote_Alzheimer_s_disease_
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Tuesday, November 22, 2011
3 Things We Can Learn about Compensation Communications from ...
Oddly enough, the teachable moments for me in the last few weeks have come from the Occupy Wall Street movement. I keep thinking that their?words can teach?people in our business?a lot about compensation communications. After all,?participants in Occupy Wall Street have a message to send?that they?hope will change behaviors in large groups of people, especially those in organizations. See what I mean?
Let's take a look.
- Describing their purpose.?They have told news sources that they are mainly protesting social and economic inequality, corporate?greed and corruption.?The words?make?their efforts?sound straightforward. But I've also been?thinking about the impact on the listener. Even as you hear their philosophy, you may be?thinking, "But it's not that simple." Or you may be thinking as I did, "Do they mean me?" As in, since I work in?and around?corporations, does?your criticism?apply to me, too?
Lesson? Neither of these reactions will encourage?me to listen or act. I'm pointing this out to show that words really do have power and that there's a communications lesson here?for us.?If?your audience doesn't?"get it" the way?you think?they should, you have spoken but you have not influenced?their opinion. This can easily (and regularly)?happen?if you don't audience-test your compensation?communications. You can create communications that have no impact, or barely the impact that you want, because your audience doesn't get it the way you?assumed they would.
- Explaining how.?As the audience for Occupy Wall Street over the last few weeks, have you learned how they would go about the change they are promoting? Any idea what they think your role should be? What the world will look like after they have achieved success?
Lesson? If?Occupy Wall Street's representatives have?talked about?these things,?the information has?gotten lost. But we need these details to be vibrant and compelling?if we are going to react in any way that would lead to change. We need to be able to envision what the changed world would look like, what we would be doing in it and what's in it for us to make the effort to get there.
- Communicating best when something goes wrong.?I live across a bridge from Oakland, so I have heard a lot about that location's story. If they weren't having problems, I would have heard a lot less even though I am in the neighborhood. We all may be the 99%, but we feel most comfortable talking to the guy next to us who is probably on the same wavelength.
Lesson? It's a nuisance to struggle to be? understood. It takes a lot more effort to speak clearly and understandably to those outside of HR and we put it off a lot. As a result we?wait until we can't avoid it, like the end-of-year performance management and compensation activities. Then, we talk to those outside the department but?rush back inside our own group -- where we can speak?among friends --?as soon as we can. We've got to?get out there more often?if we want to be understood and achieve change.
It seems like such an complex and interesting time in our world. Interesting, I think, because there so much to learn from watching and listening. (As soon as I stop hyperventilating and get my fingers out of my ears!)
Margaret O'Hanlon is founder and principal of re:Think Consulting.? She has decades of experience teaming up with clients to ensure great Human Resource ideas deliver valuable business results.? Margaret brings deep expertise in total rewards communications and change management?to the dialog at the Caf?. Before founding re:Think Consulting, she was a Principal in Total Rewards Communications and?Change Management?with Towers Perrin.?Margaret is a?member of the Board of Directors of the International Association of Business Communicators (IABC), Pacific Plains?Region. She?earned her M.S. and Ed.S. in Instructional Technology at Indiana University.?Creative writing is one of her outside passions, along with Masters Swimming.
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Katy Perry Sings "The One That Got Away" at AMAs
We see Katy Perry strip down a lot. She is not shy.
What we don't often see is a stripped-down performance by the pop singer, performing acoustically as she did Sunday night at the American Music Awards.
Katy was honored with a special honor at the ceremony (see full list of AMA winners) for having charted five straight singles at #1 off the same album.
She's the only woman ever to do that, and only the second performer overall. The other? None other than Michael Jackson. Pretty exclusive company.
While no one will ever compare KP to MJ in terms of talent, she does sing a catchy tune. Watch her perform "The One That Got Away" last night ...
Source: http://www.thehollywoodgossip.com/2011/11/katy-perry-performs/
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Stocks plunge as debt talks near collapse (AP)
NEW YORK ? The Dow is closing down 249 points as a congressional committee appears close to admitting defeat on its deficit-cutting task.
The group was supposed to reduce the deficit by $1.2 trillion over the next decade. Its apparent failure signals that Washington remains gridlocked over crucial fiscal issues.
The stalemate might trigger harsh spending cuts and could cause another downgrade of the nation's credit rating. It also appears less likely that Congress will extend a payroll tax cut and unemployment benefits.
The Dow fell 2.1 percent to 11,547 Monday. The S&P closed down 23 points, or 2 percent, at 1,193. The Nasdaq lost 49, or 1.9 percent, to 2,523.
Five stocks fell for every one that rose on the New York Stock Exchange. Volume was below average at 4 billion shares.
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Protest flares in east Afghanistan against U.S. deal (reuters)
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