The Morning News

The Morning News is an Open Thread

From Yahoo News Top Stories

1 Grand Canyon, Loch Ness compete as nature wonders

By ELIANE ENGELER, Associated Press Writer

1 hr 49 mins ago

GENEVA – The Grand Canyon, Mount Everest and Loch Ness will vie with more than 200 other spectacular places in the next phase of the global competition for the New 7 Wonders of Nature, organizers said Wednesday. The 261 nominees from 222 countries include some of the most famous mountain peaks, lakes, and other attractions, such as the Great Barrier Reef and Niagara Falls.

Over a billion people are expected to join in Internet voting that will nominate 77 semifinalists for the top natural wonders, which will share in the glory already enjoyed by the seven man-made wonders chosen 18 months ago.

“We are calling on people all over the world to actively show their appreciation for our … natural world by joining together to celebrate the most extraordinary sites on our planet,” said Tia Viering, spokeswoman of the New 7 Wonders campaign.

2 German mogul kills self over financial meltdown

By GEIR MOULSON, Associated Press Writer

1 hr 36 mins ago

BERLIN – German billionaire Adolf Merckle threw himself in front of a train after his business empire, which included interests ranging from VW cars to pharmaceuticals to cement, ran into trouble in the global financial crisis, his family said Tuesday.

The 74-year-old’s body was found Monday night on railway tracks at Blaubeuren in southwestern Germany, prosecutors in nearby Ulm said in a statement. They described the death as a “railway accident” and said there was no evidence that anyone else was to blame.

His family, which had reported Merckle missing after he failed to return home Monday, issued a brief statement saying he took his own life. A person close to the investigation, who requested anonymity because he was not authorized to speak with the media, said Merckle left a suicide note. Its contents were not divulged.

3 Police arrest parishioners at New Orleans church

By MICHAEL KUNZELMAN, Associated Press Writer

1 hr 54 mins ago

NEW ORLEANS – Police on Tuesday cleared out two New Orleans Catholic churches occupied by former parishioners opposed to the archdiocese’s decision to close them, breaking down a door at one.

Two protesters were arrested and at least two more were issued citations, police said.

“It’s our property. It’s our church. It belongs to the Archdiocese of New Orleans,” said The Very Rev. Michael Jacques, a member of the archdiocese’s Council of Deans.

4 Obama’s CIA pick unlikely to face Senate challenge

By PAMELA HESS and ANNE FLAHERTY, Associated Press Writers

1 hr 29 mins ago

WASHINGTON – President-elect Barack Obama had to do a little fence-mending Tuesday with the new Congress controlled by his own party – apologizing to a key Senate Democrat for failing to consult on his decision to name veteran Washington hand Leon Panetta CIA director.

Vice President-elect Joe Biden also branded it a mistake for Obama not to discuss the decision in advance with the incoming Senate Intelligence Committee chair, Sen. Dianne Feinstein.

But despite rumblings of criticism about Panetta’s lack of intelligence experience, his confirmation is not expected to draw strong opposition.

5 Ex-Fla. Gov. Jeb Bush won’t run for Senate in 2010

By BRENDAN FARRINGTON, Associated Press Writer

1 hr 28 mins ago

TALLAHASSEE, Fla. – Former Gov. Jeb Bush announced Tuesday that he won’t run for the U.S. Senate in 2010 to replace the retiring Mel Martinez, saying that it was not the right time to return to elected office.

“I can play a role in helping to reshape the Republican Party’s message and focus on 21st century solutions to 21st century problems,” Bush told The Associated Press in a phone interview. “Not running does not preclude me from being involved in these things and I will be.”

Bush seriously considered a run after Martinez said last month he wouldn’t seek a second term. Bush spoke with senators, supporters and family, including his brother, President George W. Bush, and his father, former President George Bush.

6 Apple cuts copy protection and prices on iTunes (AP)

Associated Press

Posted on Tue Jan 6, 2009 6:25PM EST

SAN FRANCISCO – Apple Inc. is cutting the price of some songs in its market-leading iTunes online store to as little as 69 cents and plans to make every track available without copy protection.

In Apple’s final appearance at the Macworld trade show, Apple’s top marketing executive, Philip Schiller, said Tuesday that iTunes song prices will come in three tiers: 69 cents, 99 cents and $1.29. Record companies will choose the prices, which marks a significant change, since Apple previously made all songs sell for 99 cents.

Apple gave the record labels that flexibility on pricing as it got them to agree to sell all songs free of “digital rights management,” or DRM, technology that limits people’s ability to copy songs or move them to multiple computers. Apple had been offering a limited selection of songs without DRM, but by the end of this quarter, the company said, all 10 million songs in its library will be available that way.

7 Alcoa to slash jobs and sell 4 units

By Steve James, Reuters

2 hrs 3 mins ago

NEW YORK (Reuters) – Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.

The largest U.S. aluminum producer said it imposed a global salary and hiring freeze as it seeks to cope with what Chief Executive Officer Klaus Kleinfeld called “extraordinary times.”

The cuts, the third in as many months, come less than a week before Alcoa is scheduled to report its fourth-quarter results. Alcoa said it would take almost $1 billion in charges in the quarter. Analysts expect the company to post a 1-cent per-share loss, according to Reuters Estimates,.

8 Lawyer says Madoff cooperating with probes

By Grant McCool and Martha Graybow, Reuters

2 hrs 16 mins ago

NEW YORK (Reuters) – Bernard Madoff is cooperating with government investigations into his alleged $50 billion fraud, one of his lawyers said on Tuesday, as prosecutors sought to revoke his bail and jail him.

The New York Times reported on Tuesday that another lawyer for Madoff, Ira Sorkin, disavowed his earlier statements that Madoff was cooperating with prosecutors and the FBI in their investigations.

“We’re cooperating with the government investigations,” Madoff lawyer Daniel Horwitz told Reuters. “What we have been saying consistently is that we are cooperating with the government.” Horwitz declined to provide further details.

9 Gates projects Pentagon needs $70 billion more for wars

By Andrea Shalal-Esa, Reuters

Tue Jan 6, 4:23 pm ET

WASHINGTON (Reuters) – U.S. Defense Secretary Robert Gates estimates the Pentagon will need about $70 billion more to pay for the wars in Iraq and Afghanistan this year, on top of the $65.9 billion already approved by Congress.

If Congress supports the amount Gates estimates is needed, total spending on the wars will hit $927.7 billion since 2001.

In a three-page letter dated December 31, Gates told House of Representatives Defense Appropriations Subcommittee Chairman John Murtha that the military needed $69.7 billion in extra funds in fiscal 2009 to fund operations, replace equipment lost or worn out in the wars and replenish supplies.

10 EU faces deepening energy crunch over Russian gas

By Christian Lowe, Reuters

1 hr 35 mins ago

MOSCOW (Reuters) – Europe faced a deepening energy crunch and more sub-zero temperatures on Wednesday, with Moscow and Kiev showing little sign of a swift resolution of a pricing dispute that has slashed Russian gas supplies to the West.

Russia accused its former Soviet neighbor of stealing about 15 percent the gas it ships across Ukraine to European states.

“Ukraine has stolen gas not from Russia, but from consumers who have bought the product and paid for it,” Prime Minister Vladimir Putin said in televised remarks late on Tuesday.

11 U.S., European data grim

By Matt Daily, Reuters

2 hrs 28 mins ago

NEW YORK (Reuters) – Dismal economic data from the United States and Europe pointed to further pain for the world’s two largest economies, while aluminum maker Alcoa Inc plans to slash thousands of jobs and curtail operations to conserve cash in a deepening recession.

Toyota Motor Corp said it would shut all of its Japanese production for 11 days and petrochemical group LyondellBasell’s U.S. operations filed for bankruptcy, adding to the steady flow of bad news.

The financial turmoil that has worsened in recent months also prompted German billionaire Adolf Merckle to commit suicide, his family said, as that nation’s fifth richest man sank into despair over huge losses suffered by his companies.

12 Many in U.S. military don’t get time to vote: study

By Andy Sullivan, Reuters

Tue Jan 6, 1:02 pm ET

WASHINGTON (Reuters) – Many U.S. troops serving overseas are effectively excluded from voting because they are not given enough time to cast absentee ballots, according to a report released on Tuesday.

Sixteen U.S. states and the District of Columbia do not send out their absentee ballots early enough to allow those serving in conflicts like Iraq and Afghanistan to fill them out and return them before their voting deadline, the Pew Center on the States found.

Another six states force soldiers, sailors and marines to return their ballots by fax or e-mail to meet the deadline, risking the privacy and security of their vote.

13 Wealth of U.S. millionaires down 30 percent: survey

Reuters

Tue Jan 6, 12:07 pm ET

NEW YORK (Reuters) – American millionaires have seen their assets shrink by 30 percent during the economic crisis, a report said on Tuesday, with only 36 percent of them pleased with the performance of their financial advisers.

Of U.S. households worth $1 million or more, 55 percent are concerned they will not have enough assets to maintain their lifestyles, said Spectrem Group, a consulting firm specializing in the affluent and retirement markets.

Ninety percent fear a prolonged downturn, it said.

14 Sheikh Hasina sworn in as Bangladesh PM, democracy restored

by Shafiq Alam, AFP

Tue Jan 6, 1:58 pm ET

DHAKA (AFP) – Sheikh Hasina Wajed was sworn in for her second spell as Bangladesh’s prime minister Tuesday, restoring democracy to the impoverished country after almost two years of rule by an army-backed regime.

President Iajuddin Ahmed gave the oath at the presidential palace here in a ceremony broadcast live on television, as thousands of supporters gathered outside and around giant screens set up around the capital.

Sheikh Hasina, 61, was greeted with rapturous applause as she entered the palace and took the oath in front of some 1,000 foreign diplomats, government officials and members of parliament.

15 Nkunda rebel dissident committed ‘treason’: spokesman

AFP

Tue Jan 6, 4:16 pm ET

GOMA, DR Congo (AFP) – Laurent Nkunda is still in charge of DR Congo’s rebel movement and a rival who challenged his authority will be charged with “high treason”, a spokesman said Tuesday as splits emerged in the movement.

Chief of staff General Bosco Ntaganda said in a statement released on Monday that Nkunda had been dismissed as leader of the National Congress for the Defence of the People (CNDP) for “poor leadership” and “bad governance”.

But another top officer, Seraphin Mirindi, told AFP that Nkunda was still head of the rebel movement, which would meet Tuesday to discuss Ntaganda’s fate.

16 2008 slump wipes out 17 trillion dollars in stock value: S&P

AFP

Tue Jan 6, 12:46 pm ET

NEW YORK (AFP) – The nightmarish stock market performance in 2008 erased some 17 trillion dollars in share value worldwide, a Standard & Poor’s report said Tuesday.

S&P’s estimate is based the value of its Global Broad Market Indices, comprised of 46 major stock indexes around the world.

Emerging market indexes fell 54.72 percent and developed markets dropped 42.72 percent for the year, according to S&P.

17 Milky Way spins faster, has more mass than thought: astronomers

AFP

Mon Jan 5, 6:42 pm ET

WASHINGTON (AFP) – The Milky Way, the Earth’s home galaxy, is spinning much faster and has a mass 50 percent larger than previously believed, raising the probability of a collision with another galaxy, according to a report out Monday.

A team of international astronomers, with the aid of ten telescopes spread out between Hawaii, the Caribbean and the northeastern United States, determined that the Milky Way is rotating at a speed of 161,000 kilometers (100,000 miles) per hour faster than previously thought.

That increase in speed increases the Milky Way’s mass by 50 percent, said Mark Reid, of the Harvard-Smithsonian Center for Astrophysics, in research presented at the American Astronomical Society meeting this week in Long Beach, California.

18 Bush names marine monuments, defends environmental record

by Kerry Sheridan, AFP

1 hr 3 mins ago

WASHINGTON (AFP) – President George W. Bush on Tuesday defended his record on the environment as he designated three regions in the Pacific Ocean as the world’s largest marine protected areas.

The trio of “marine national monuments” span a total of 195,274 square miles (505,757 square kilometers) and include the Mariana Trench and northern Mariana Islands, the Rose Atoll in American Samoa and a chain of remote islands in the Central Pacific.

“The monuments will prohibit resource destruction or extraction, waste dumping and commercial fishing,” Bush said in a speech.

19 Dutch museums probe Nazi loot

AFP

Tue Jan 6, 11:29 am ET

THE HAGUE (AFP) – Works of art looted from Dutch Jewish victims of the Nazi regime may be returned to the rightful owners’ heirs thanks to a new probe announced Tuesday by the national association of museums.

“We have information about auctions that took place just before and during World War II at which it is known that Jewish people were forced to sell items,” association director Siebe Weide told AFP.

Other pieces were stolen, and yet more were seized after being left behind by fleeing Jews.

20 The ‘McMansion’ trend in housing is slowing

By Patrik Jonsson, The Christian Science Monitor

Tue Jan 6, 3:00 am ET

Atlanta – Complete with an Oval Office and Lincoln Bedroom, the Atlanta White House became a symbol of developers reshaping the urban landscape by tearing down modest ranches and bungalows and plopping McMansions in their place.

The religiously themed mini-White House – which required the razing of three brick ranches – is now up for sale, facing foreclosure this week if the builder, an Iranian-born entrepreneur, can’t get a $9.88 million selling price.

New York finance blogger Rolfe Winkler calls it a “delicious story” rife with symbolism about overheated real estate and leveraged dreams that sparked the biggest national real estate slump since the Great Depression.

21 Credit crunch shows little sign of easing

By Mark Trumbull, The Christian Science Monitor

Tue Jan 6, 3:00 am ET

In the aftermath of a historic lending boom, a key challenge for America in 2009 is to find the right footing on debt – allowing the credit bubble to deflate while not depriving the economy of needed fuel.

Seeking the right balance is a difficult test for policymakers, since the economy has downshifted sharply since September.

To some extent, a tightening of credit simply reflects the reality of cooler economic times. But economists generally say the credit markets also face an abnormal squeeze now – one that justifies many of the extraordinary actions that the Federal Reserve and Treasury have taken in recent months. The latest example came last week, as the Treasury Department decided to rescue GMAC to prevent a freeze-up in the auto-loan market.

From Yahoo News World

22 US, Iraqi troops get the picture (not their man)

By CHELSEA J. CARTER, Associated Press Writer

Tue Jan 6, 1:09 pm ET

TARMIYAH, Iraq – Army Capt. Christopher Loftis took in the scene: Iraqi soldiers raiding the home of a suspected insurgent wanted for participating in deadly attacks against U.S. and Iraqi troops.

An Iraqi lieutenant questioned three men found in the house about their brother: Was he home? No. Where was he? Syria. When did he leave? A year ago.

There were questions Loftis wanted asked, facts that needed to be clarified to determine whether they were lying. But under a U.S.-Iraqi security agreement that took effect hours earlier on New Year’s Day, Loftis could only make suggestions and recommendations to Iraqi troops.

23 China face economic pain, sensitive anniversaries

By CHRISTOPHER BODEEN, Associated Press Writer

38 mins ago

BEIJING – The year ahead will challenge Chinese security officials increasingly nervous about social stability, the nation’s top police officer said, amid concerns about gang violence, separatism and dissident plans to mark the 20th anniversary of the Tiananmen Square protests.

Leaders are particularly anxious about how the cooling economy, and the accompanying loss of jobs, will affect social order.

“The present situation of maintaining national security and social stability is grave,” Public Security Minister Meng Jianzhu warned leading officers in Beijing, official state media reported Tuesday.

24 UN proposes Green Zone-style base in Somalia

By TOM MALITI, Associated Press Writer

Tue Jan 6, 10:18 am ET

NAIROBI, Kenya – Three masked gunmen fatally shot a Somali aid worker Tuesday, as the U.N. envoy to Somalia said the United Nations should create a Baghdad-style Green Zone in the African country so he can base all his aid workers there.

The U.N. now keeps its international Somalia staff members in Kenya to shield them from the risk of attacks and kidnappings. In 2008, at least 13 aid workers were killed in Somalia, which has not had an effective government since 1991.

“It is very difficult to address (the) Somali situation from Nairobi (the Kenyan capital). I think it is even negative,” the envoy, Ahmedou Ould-Abdallah, said during a news conference in Nairobi, Kenya. “We should have a Green Zone, if necessary, in Somalia.”

25 Japan wants anti-whalers barred from ports

By ERIC TALMADGE, Associated Press Writer

Tue Jan 6, 7:23 am ET

TOKYO – Japan said Tuesday it plans to ask Australia and possibly New Zealand and Chile to ban an anti-whaling protest ship from using their ports to refuel, heightening a cat-and-mouse game in Antarctic waters between Japan’s whaling fleet and the conservationists.

The Sea Shepherd group has said its anti-whaling ship, the Steve Irwin, has left pursuit of Japan’s whaling fleet after chasing it for 2,000 miles (3,200 kilometers) and is now headed to port to refuel. It suggested on its Web site it will seek a port call in Australia, but has not provided further details.

Japan, which considers the actions of the Steve Irwin to be tantamount to piracy, reacted Tuesday by saying it will ask countries where the ship might make port calls to refuse it entry.

26 Afghans, Pakistan fight militants together-Zardari

By Jonathon Burch, Reuters

Tue Jan 6, 1:17 pm ET

KABUL (Reuters) – Pakistani President Asif Ali Zardari met his Afghan counterpart Hamid Karzai in Kabul on Tuesday, pledged cooperation in the fight against militants in both countries and called for wider regional understanding.

Relations between Kabul and Islamabad, both U.S. allies but troubled by border disputes in the past, have improved in recent months with the arrival of the new government in Pakistan.

In the past, Afghan officials have often accused elements in Pakistani state agencies of helping the Taliban, ousted from power in Kabul but retaining sanctuaries in the tribal areas along the rugged Afghan-Pakistan border.

27 Tight security for Iraqi Shi’ite rite

By Mohammed Abbas, Reuters

Tue Jan 6, 2:54 pm ET

BAGHDAD (Reuters) – Thousands of Iraqi Shi’ites flocked to holy sites on Tuesday to observe a religious rite amid tight security, days after a bomber killed at least 35 pilgrims.

Men and boys marched with blood streaming down their faces after cutting their scalps, part of the ritual of mourning for the death of Hussein, grandson of the Prophet Mohammad, slain in the 7th century battle of Kerbala.

Many wore green or red costumes, dressing as the followers of Hussein and his enemy Yazid for re-enactments of the battle, streaming into a Baghdad shrine to the beat of drums.

28 Zimbabwe court dismisses activists’ bid for freedom

By Nelson Banya, Reuters

Tue Jan 6, 11:28 am ET

HARARE (Reuters) – A Zimbabwean court Tuesday ruled that a leading human rights advocate and eight other activists should remain in custody, in a case that has raised further doubts over a power-sharing deal.

The state has charged Jestina Mukoko, who leads a local rights group, and the other activists with recruiting or trying to recruit people for military training to topple President Robert Mugabe’s government.

The arrests have raised tensions in Zimbabwe, where Mugabe and the opposition are locked in a long dispute over allocation of cabinet posts under the power-sharing agreement, seen as the best chance of easing a deep economic crisis.

29 China seen facing wave of unrest in 2009

By Chris Buckley, Reuters

Tue Jan 6, 6:27 am ET

BEIJING (Reuters) – China faces surging protests and riots in 2009 as rising unemployment stokes discontent, a state-run magazine said in a blunt warning of the hazards to Communist Party control from a sharp economic downturn.

The unusually stark report in this week’s Outlook (Liaowang) Magazine, issued by the official Xinhua news agency, said faltering growth could spark anger among millions of migrant workers and university graduates left jobless.

“Without doubt, now we’re entering a peak period for mass incidents,” a senior Xinhua reporter, Huang Huo, told the magazine, using the official euphemism for riots and protests.

30 Sarkozy to unveil justice reform: report

By Thierry Leveque, Reuters

Tue Jan 6, 7:22 am ET

PARIS (Reuters) – French President Nicolas Sarkozy is planning to scrap the position of examining magistrate, one of the great symbolic figures of the French justice system, in a major overhaul after recent abuses, Le Monde said Tuesday.

The newspaper said all criminal investigations would now be handled by public prosecutors, who answer to the justice ministry, causing concern among magistrates who said this could expose the criminal justice system to political influence.

Sarkozy’s office confirmed that he would make a keynote speech to judges Wednesday but declined to give details.

31 Chinese navy begins landmark Somali piracy patrols: state media

AFP

Tue Jan 6, 11:51 am ET

BEIJING (AFP) – A Chinese naval convoy arrived Tuesday in the Gulf of Aden on a landmark mission to protect the country’s shipping from Somali pirates and escorted its first four vessels, state media reported.

The four ships escorted were Chinese merchant vessels, including one from Hong Kong, Xinhua news agency said in a dispatch filed from aboard the destroyer Wuhan.

The naval task force, deploying two destroyers and a supply ship, marks China’s first potential combat mission beyond its territorial waters in centuries.

32 Japan government under fire over gaffe on homeless

by Harumi Ozawa, AFP

Tue Jan 6, 2:29 am ET

TOKYO (AFP) – Japan’s opposition on Tuesday pressed the unpopular government to fire a senior official who accused homeless people, many of whom have lost jobs in the recession, of laziness.

The gaffe was the latest blow to Prime Minister Taro Aso, whose approval rating has slumped to 20 percent as voters question his handling of the financial crisis in the world’s second largest economy.

Tetsushi Sakamoto, the vice minister for internal affairs and a lawmaker from Aso’s Liberal Democratic Party (LDP), on Tuesday apologised for his comments about homeless people who spent the New Year period in a Tokyo park.

33 10 countries cut off as Russia-Ukraine gas dispute spreads

By Tom Lasseter, McClatchy Newspapers

Tue Jan 6, 5:43 pm ET

MOSCOW – The Russian-Ukrainian dispute over natural-gas supplies took a dramatic turn for the worse Tuesday as supplies were reduced or cut off to at least 10 European countries.

The countries involved include Greece , Austria , Turkey , Germany , Romania and Bulgaria , according to statements by energy officials and news accounts.

If Russia , which supplies the gas, and the former Soviet republic, through whose territory it transits, don’t come to terms soon, there could be serious consequences for Europe in the middle of winter. About a quarter of Europe’s natural gas comes from Russia , and some 80 percent of that amount transits Ukraine .

34 Guardsman would rather face Taliban than U.S. economy

By Nancy A. Youssef, McClatchy Newspapers

Tue Jan 6, 3:47 pm ET

DELARAM, Afghanistan – Around the barren military base, which sits at the crossroads of the Taliban’s poppy trade route, news arrives slowly. A single issue of the U.S. military’s newspaper arrives by airlift about every two weeks. While on patrol in remote villages, Afghans sometime shout at the Marines in Russian to go away, unaware that the troops are promoting democracy. Most Marines here said that they didn’t know about President-elect Barack Obama’s Cabinet picks, including his decision to keep Robert Gates as their secretary of defense.

However, the domestic economic meltdown has reached even here. The National Guardsmen who serve with the Marines of the 3rd Battalion , 8th Marine Corps Regiment , based here, say they fear that their jobs won’t be there when they return.

With uncertainty at home, some are doing what they once considered unthinkable: extending their tours. They say that they’d rather tackle a resurging Taliban than a struggling economy.

35 Thailand Moves to Bar Web Insults to King

By HANNAH BEECH, Time Magazine

1 hr 48 mins ago

One day after China announced a major offensive to combat online pornography, Thailand publicized another Internet crackdown, in which local authorities had blocked 2,300 websites. Their alleged offenses? No, not images of skimpily clad women of the kind that can be found in any one of Bangkok’s ubiquitous entertainment districts. Instead, these websites were banned because of material that was deemed insulting to the country’s beloved royal family.

36 Rome Eyes New Russian Orthodox Church Head

By JEFF ISRAELY / ROME, Time Magazine

Tue Jan 6, 12:20 pm ET

Kremlinologists and Vaticanisti are cut from the same cloth, fantastically adept at identifying the most important signs amidst the smoke-and-mirrors maneuvering of their respective subjects. This month, both have their eye on the same thing: the plot-turns inside the Russian Orthodox Church, which is currently weighing a successor to longtime Patriarch Alexy II, who died last month at the age of 79.

37 Opening Day for Enormous New US Embassy in Iraq

By ABIGAIL HAUSLOHNER / BAGHDAD, Time Magazine

Tue Jan 6, 10:25 am ET

With red-carpet flourish and speeches by top U.S. and Iraqi officials, the United States celebrated the next step in the U.S.-Iraq diplomatic relationship with the dedication of its sprawling new embassy in Baghdad on Monday. The 104-acre complex is the largest U.S. embassy in the world. “Today is about more than raising a flag and dedicating an embassy. It is about new direction and a new future,” said U.S. Ambassador to Iraq Ryan Crocker, standing on an outdoor stage with Iraqi President Jalal Talabani and U.S. Deputy Secretary of State John Negroponte. “In the security agreement, we have made commitments, and we will fulfill those commitments while continuing to assist Iraqi forces in maintaining security.”
From Yahoo News U.S. News

38 State unemployment claim systems overwhelmed

By RICHARD RICHTMYER, Associated Press Writer

1 hr 30 mins ago

ALBANY, N.Y. – Electronic unemployment filing systems have crashed in at least three states in recent days amid an unprecedented crush of thousands of newly jobless Americans seeking benefits, and other states were adjusting their systems to avoid being next.

About 4.5 million Americans are collecting jobless benefits, a 26-year high, so the Web sites and phone systems now commonly used to file for benefits are being tested like never before.

Even those that are holding up under the strain are in many cases leaving filers on the line for hours, or kissing them off with an “all circuits are busy” message. Agencies have been scrambling to hire hundreds more workers to handle the calls.

39 LA water cops hunt wasteful faucets, sprinklers

By NOAKI SCHWARTZ, Associated Press Writer

1 hr 30 mins ago

LOS ANGELES – The green thumbs who keep lawns lush and flora flourishing in the city have found a new foe among the aphids, white flies and other yard pests – the water police.

Just as some scofflaws keep an eye out for black-and-white patrol cars, gardeners have learned to spot the white Toyota Priuses driven by Los Angeles water cops out to fight waste as California struggles with an extended drought.

“They get to scattering when they see us,” said Department of Water and Power officer Alonzo Ballengar. “I don’t know what they call me, but I’m sure they have names.”

40 December retail sales to spur profit warnings

By Brad Dorfman, Reuters

Tue Jan 6, 3:00 pm ET

CHICAGO (Reuters) – Deep discounts that failed to coax consumers to shop in December are likely to lead to a number of profit warnings this week, when retailers report sales for the all-important holiday month.

With consumers reeling from a recession, job uncertainty, tighter credit and falling stock portfolios, discount giant Wal-Mart Stores Inc could be one of the only retailers to post a rise in December sales at established stores, according to Thomson Reuters data.

Widespread after-Christmas sales illustrated how much inventory retailers still had on their shelves, and analysts caution that there is little on the horizon to spur consumers to start shopping again in the first part of 2009.

41 S&P downgrades Detroit bonds to junk status

Reuters

1 hr 38 mins ago

CHICAGO (Reuters) – Detroit, a city already struggling due to the depressed auto industry, was hit with another blow on Tuesday when Standard & Poor’s Ratings Services downgraded the city’s general obligation ratings to junk status, citing ongoing financial deterioration.

The ratings on about $2.4 billion of unlimited and limited tax debt were cut to “BB” from “BBB” and “BBB-minus,” respectively, S&P said.

The “BB” rating is two notches into junk territory and will make it considerably more expensive for the city to issue debt as investors demand a premium to compensate for higher risk.

42 Texas kills 50-year road building plan after outcry

By Jim Forsyth, Reuters

Tue Jan 6, 5:53 pm ET

SAN ANTONIO (Reuters) – Texas road officials on Tuesday scrapped a $180 billion plan to build a giant system of toll roads and commuter rails criss-crossing the state in favor of a smaller slate of infrastructure projects.

The state Department of Transportation abandoned the Trans Texas Corridor, the centerpiece of Gov. Rick Perry’s long-range transportation plan, after objections from communities and farm groups along the planned route, which would have involved seizing large swaths of private property.

In 2002, Perry unveiled an ambitious plan to build 4,000 miles of transport corridors a quarter mile wide, which would include room for high-voltage power lines, commuter and freight rail lines, and five road lanes in each direction.

43 Judge sets trial in 2010 for Blackwater guards

By James Vicini, Reuters

Tue Jan 6, 4:36 pm ET

WASHINGTON (Reuters) – A federal judge on Tuesday set a trial for early next year for five Blackwater security guards accused of killing 14 unarmed civilians in a 2007 shooting in Baghdad that strained U.S.-Iraqi relations.

The judge scheduled jury selection to begin on January 29 of next year after the five defendants formally entered a not guilty plea to the charges over the shooting that also injured 20 Iraqis.

The five men are charged with 14 counts of manslaughter, 20 counts of attempt to commit manslaughter and one weapons violation count over the shooting that outraged Iraqis.

44 Econ slump hitting older Americans hard, AARP says

By Donna Smith, Reuters

Tue Jan 6, 2:36 pm ET

WASHINGTON (Reuters) – The recession is hitting older Americans hard, forcing many to cut back on contributions to retirement accounts and extras like entertainment and restaurant meals, AARP officials said on Tuesday.

A survey of Americans aged 45 and older conducted for the AARP, an influential advocacy group for people over 50, found many had suffered savings and investment losses, are having trouble paying for essentials such as food, gas and medicine and are planning to postpone retirement.

“The economic downturn last year hit our members hard,” AARP CEO Bill Novelli told reporters.

45 Court orders Enron’s Skilling resentenced

By Anna Driver, Reuters

Tue Jan 6, 3:17 pm ET

HOUSTON (Reuters) – A U.S. court upheld the 19 felony convictions of former Enron Corp President and Chief Executive Jeffrey Skilling stemming from his role in the collapse of the energy trading company, but said he must be resentenced.

The ruling, handed down by the U.S. Court of Appeals for the Fifth Circuit in New Orleans on Tuesday, said the lower court erred when applying federal sentencing guidelines, so the former executive could now receive a shorter sentence.

Skilling, who was convicted along with former Chairman Kenneth Lay in May 2006 on conspiracy and fraud changes, is serving a 24-year term at a minimum security prison in Colorado. His lawyers could not immediately be reached for comment.

46 NY art sales to tempt buyers with attractive prices

By Michelle Nichols, Reuters

Tue Jan 6, 3:55 pm ET

NEW YORK (Reuters) – Old Master painting sales will try to lure choosier buyers this month with lower price estimates as Christie’s and Sotheby’s auction houses adjust to a global art market dulled by the financial crisis.

Art values dropped in October when the U.S.-born economic meltdown engulfed the world and several art auctions fell far short of low pre-sale estimates, compelling rivals Sotheby’s and Christie’s to take a more cautious approach.

But encouraged by Old Master auctions in London in December — where Sotheby’s hit high expectations with a $20 million sale and Christie’s fell shy of low estimates, reaping $30 million — the auctioneers hope the genre will remain stable.

47 FBI plans large hiring blitz of agents, experts

By James Vicini, Reuters

Tue Jan 6, 2:02 pm ET

WASHINGTON (Reuters) – Wanted by the FBI: agents, language specialists, computer experts, intelligence analysts and finance experts.

The FBI said on Monday it had launched one of the largest hiring blitzes in its 100-year history involving 2,100 professional staff vacancies and 850 special agents aimed at filling its most critical vacancies.

The agency, which seeks to protect the United States from terrorist attack, fight crime and catch spies, among other duties, said it currently has more than 12,800 agents and about 18,400 other employees.

48 More Americans getting multiple chronic illnesses

By Will Dunham, Reuters

Tue Jan 6, 4:55 am ET

WASHINGTON (Reuters) – More Americans are burdened by chronic illnesses such as diabetes and high blood pressure, often having more than three at a time, and this has helped fuel a big rise in out-of-pocket medical expenses, a study released on Tuesday showed.

With prescription drugs playing a key role, average annual out-of-pocket medical costs — those not covered by health insurance — rose from $427 per American in 1996 to $741 in 2005, researchers wrote in the journal Health Affairs.

Adjusting for inflation, that translated to 39 percent more in out-of-pocket spending per person over that time, according to Kathryn Paez of Maryland-based health research organization Social & Scientific Systems Inc. and colleagues.

49 Manhattan apartment prices fall, will drop further

By Helen Chernikoff, Reuters

Mon Jan 5, 11:08 pm ET

NEW YORK (Reuters) – Prices of existing Manhattan apartments fell nearly 4 percent in the fourth quarter, two reports showed, and analysts warned of much deeper declines in coming months in the wake of turmoil on Wall Street and financial sector layoffs.

The median sales price — in which half the sales prices were higher and half were lower — of an existing Manhattan apartment fell 3.6 percent to $732,500, according to the Prudential Douglas Elliman Manhattan Fourth Quarter Market Overview.

“You could say it started the second week of September when Lehman (Brothers) filed for bankruptcy,” said Dottie Herman, chief executive of Prudential Douglas Elliman, one of the United States’ largest real estate companies.

50 Episcopal church wins property dispute

By Michael Conlon, Religion Writer, Reuters

Mon Jan 5, 6:18 pm ET

CHICAGO (Reuters) – The U.S. Episcopal Church on Monday won a victory in its efforts to hold on to church property claimed by congregations that have left in disputes over theology and the role of homosexuals in the church.

The California Supreme Court ruled that the 2.4-million-member national church, and not a local parish in that state, owns a church building and the land on which it sits, property which members of the congregation said belonged to them when they left the church.

St. James parish in Newport Beach split from the church in 2004, a year after the national church consecrated Gene Robinson of New Hampshire as the first bishop known to be in an openly gay relationship in more than four centuries of Anglican church history.

51 Many teens display risky behavior on MySpace: study

By Julie Steenhuysen, Reuters

Tue Jan 6, 1:23 am ET

CHICAGO (Reuters) – More than half of teenagers mention risky behaviors such as sex and drugs on their MySpace accounts, U.S. researchers said on Monday.

They said many young people who use social networking sites such as News Corp’s MySpace do not realize how public they are and may be opening themselves to risks, but the sites may also offer a new way to identify and help troubled teens.

“We found the majority of teenagers who have a MySpace account are displaying risky behaviors in a public way that is accessible to a general audience,” said Dr. Dimitri Christakis of Seattle Children’s Research Institute, whose studies appear in the journal Archives of Pediatric & Adolescent Medicine.

52 U.S. health spending hits $2.2 trillion in 2007

By Maggie Fox, Health and Science Editor, Reuters

Tue Jan 6, 12:14 am ET

WASHINGTON (Reuters) – Americans spent $2.2 trillion on healthcare in 2007, or $7,421 per person, according to a U.S. government report released on Tuesday.

The 6.1 percent rate of growth over 2006 was the lowest since 1998, mostly because growth in spending on drugs slowed, the team at the Centers for Medicare and Medicaid Services found.

Cheaper generic drugs and worries about drug safety helped slow spending growth but the numbers kept the United States far ahead of all other countries on health spending.

53 Social Security overestimates death rates: study

Reuters

Mon Jan 5, 6:46 pm ET

WASHINGTON (Reuters) – The U.S. Social Security Administration, which pays out $600 billion a year in benefits to retirees, may have underestimated how a decline in smoking will increase life expectancy, two experts reported on Monday.

Haidong Wang of the University of Washington in Seattle and Samuel Preston of the University of Pennsylvania said their calculations showed that by 2035 a man’s odds of surviving from age 50 to age 85 will be 22.5 percent greater than projected, and a woman’s odds more than 7 percent greater.

This could affect the Social Security Administration’s budget, which now calculates that by 2034, 74 million Americans over the age of 65 will be living, compared to 38.6 million now.

54 Going Nuclear

By MICHAEL GRUNWALD, Time Magazine

Tue Jan 6, 1:30 pm ET

Nuclear power is on the verge of a remarkable comeback. It’s been three decades since an American utility ordered a nuclear plant, but 35 new reactors are now in the planning stage. The byzantine regulatory process that helped paralyze the industry for a generation has been streamlined. There hasn’t been a serious nuclear accident in the U.S. since the Three Mile Island meltdown in 1979. And no-nukes politics has become a distant memory. It was a sign of the times when John McCain ridiculed Barack Obama for opposing nuclear energy–and the allegation wasn’t even true. “There’s only a very small minority in Congress that still opposes nuclear power,” says Alex Flint, the top lobbyist at the Nuclear Energy Institute (NEI). “That’s quite a change.”

55 Another Gitmo Grows in Afghanistan

By MARK THOMPSON / WASHINGTON, Time Magazine

Tue Jan 6, 1:40 pm ET

The incoming Obama Administration says it wants to shut down the U.S. military prison at GuantÁnamo Bay. But even if GuantÁnamo closes, the controversial U.S. practice of jailing suspected al-Qaeda militants and other terrorists indefinitely won’t end, because such detentions continue on an even greater scale at the U.S. military base at Bagram, Afghanistan, 40 miles north of Kabul. Approximately 250 detainees are currently being held at GuantÁnamo; an estimated 670 are locked up under similar conditions at Bagram.

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  1. From Yahoo News Politics

    56 Shinseki pledges to fix gaps in veterans’ care

    By HOPE YEN, Associated Press Writer

    Tue Jan 6, 5:04 pm ET

    WASHINGTON – Retired Gen. Eric K. Shinseki pledged to move quickly to fix gaps in health care if confirmed as Veterans Affairs secretary, saying he will reopen benefits to hundreds of thousands of middle-income veterans denied during the Bush administration.

    In a 54-page disclosure obtained Tuesday by The Associated Press, President-elect Barack Obama’s choice to head the government’s second largest agency also urged Congress to set VA funding a year in advance to minimize political pressures. And the former Army chief of staff said he will step down from the corporate boards of defense contractors to alleviate potential conflicts of interest.

    “If confirmed, I would focus on these issues and the development of a credible and adequate 2010 budget request during my first 90 days in office,” Shinseki wrote to the Senate Veterans Affairs Committee, noting that VA funding in the past created “significant management difficulties” that delayed medical care.

    57 Leading Democrat offers mortgage aid bill

    Reuters

    Tue Jan 6, 5:29 pm ET

    WASHINGTON (Reuters) – The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.

    The bill drafted by Sen. Richard Durbin would help millions of families avoid foreclosure by easing their monthly payments, the Illinois lawmaker said in a statement.

    “After committing over $1 trillion in taxpayer money to address the financial crisis, why don’t we take a step that would indisputably reduce foreclosures and that would cost taxpayers nothing?” Durbin, the Senate Democratic whip, said in a statement.

    58 Top Republican warns against ‘reckless rush’ to pass stimulus

    AFP

    Tue Jan 6, 4:43 pm ET

    WASHINGTON (AFP) – The top Senate Republican Mitch McConnell on Tuesday warned against a “reckless rush” to pass president-elect Barack Obama’s stimulus plan, saying government must not take taxpayers “for a ride.”

    McConnell, in a speech marking the opening of the new Congress, offered to work with Obama, who will be inaugurated on January 20, but said Republicans wanted to ensure full scrutiny of his near 800 billion dollar economic package.

    “We should encourage, not discourage questions about this bill in a reckless rush to meet an arbitrary deadline,” McConnell said.

    59 US suspends aid to Guinea

    AFP

    Tue Jan 6, 2:25 pm ET

    WASHINGTON (AFP) – The United States said Tuesday it was suspending aid to Guinea as it renewed calls for a return to civilian rule and the holding of elections following a military coup in Conakry last month.

    “The United States is suspending assistance to Guinea, with the exception of humanitarian aid and programs supporting the democratic process,” State Department spokesman Sean McCormack said in a statement.

    The State Department said on December 24 that Washington would suspend its aid to Guinea, some 15 million dollars this year, if coup leaders do not take steps to return civilian rule.

  2. From Yahoo News Business

    60 LyondellBasell units file for bankruptcy

    By DAVID KOENIG, AP Business Writer

    Tue Jan 6, 7:18 pm ET

    DALLAS – The U.S. arm of chemical giant LyondellBasell Industries has filed for bankruptcy as the recession continues to weaken demand for its products, which are used in everything from cars to detergents.

    The Houston-based company said Tuesday that it had arranged for up to $8 billion in financing to keep operating while it reorganizes.

    Lyondell Chemical Co. and related affiliates listed assets of $27.1 billion and liabilities of $19.3 billion. It identified 79 affiliates that will file for bankruptcy protection, including one of LyondellBasell’s European holding companies.

    61 After sales, will shoppers pay full price again?

    By ANNE D’INNOCENZIO, AP Retail Writer

    Tue Jan 6, 4:25 pm ET

    NEW YORK – Shoppers are getting used to those 75 percent off sale signs, and that’s bad news for merchants who worry they will also have to quickly slash prices on spring goods to attract customers.

    Anxieties about how rampant discounts have affected shoppers’ psyches and stores’ profits are running high ahead of expected dismal December sales figures on Thursday. The holiday season is anticipated to be the worst in decades.

    Already, retailers including Bebe Stores Inc. and J.Crew Group Inc. are cutting prices on selected spring styles to lure sale-savvy shoppers.

    62 Don’t get used to cheap oil, analysts say

    By JOHN PORRETTO, AP Energy Writer

    Tue Jan 6, 5:09 pm ET

    HOUSTON – All that money you’re saving these days at the gas pump? You might want to put it in the bank.

    The same cheap oil that’s providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of last summer’s $4-a-gallon gas.

    The oil industry is scaling back on exploration and production because some projects don’t make economic sense when energy prices are low. And crude is already harder to find because more nations that own oil companies are blocking outside access to their oil fields.

    63 Legal fight in Dow-Kuwaiti deal looms

    By ERNEST SCHEYDER, AP Energy Writer

    Tue Jan 6, 4:40 pm ET

    NEW YORK – Dow Chemical will pursue legal action against a state-owned Kuwaiti company that scuttled a $17.4 billion joint venture just days before the deal was to close, and said Tuesday that talks for a similar arrangement with other investors are already under way.

    The Midland, Mich.-based company could potentially recoup $2.5 billion from Petrochemical Industries Co. after it backed away from the K-Dow Petrochemicals agreement, according to filings with the Securities and Exchange Commission.

    Recouping any money from the deal would lighten what has become a sizable debt burden for the nation’s largest chemical company. Dow agreed to buy specialty chemicals maker Rohm & Haas last July and had planned on using billions from the joint venture to help fund the $15.3 billion deal.

    64 Airlines fly into new year with wave of fare sales

    By HARRY R. WEBER, AP Airlines Writer

    Tue Jan 6, 2:33 pm ET

    ATLANTA – A wave of fare sales has spread across the airline industry in the early days of the new year as the weak economy continues to put pressure on carriers to fill seats even after they drastically reduced capacity and some expressed willingness to cut more.

    Many experts and even executives at some airlines had expected that after deep capacity cuts went into effect starting in September, the number of fare sales going forward would be fewer and farther between. But fuel prices have come down significantly, and the weak economy has eroded demand for air travel.

    Even so, on average base airfares outside of the travel periods for the recently launched sale fares are higher today than in the last few years, said Rick Seaney, head of airfare research site FareCompare.com. He noted there were 30 attempted airfare hikes between summer 2007 and summer 2008, two-thirds of which were successful.

    65 Judge tosses suit challenging tobacco settlement

    By BRETT BARROUQUERE, Associated Press Writer

    Tue Jan 6, 11:24 am ET

    LOUISVILLE, Ky. – A federal judge has dismissed a challenge to the 1998 Master Settlement Agreement between the states and 19 tobacco product makers saying there’s no legal basis for attacking the compact.

    U.S. District Judge Jennifer Coffman ruled Tuesday that the lawsuit, brought by General Tobacco, failed on all fronts because the company couldn’t prove the settlement amounted to either a conspiracy or anti-competitive behavior by the government.

    The Master Settlement Agreement was a product of work by state attorneys general, who represented their states in the negotiation, the judge ruled.

    66 Bank of America selling $2.8 billion

    Reuters

    58 mins ago

    HONG KONG (Reuters) – Top U.S. lender Bank of America (BAC.N), raising cash to weather a dismal market at home, is selling a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) at a 12 percent discount on Wednesday, according to a term sheet obtained by Reuters.

    The U.S. lender was selling more than 5.62 billion shares, or nearly 13 percent of its holding in Construction Bank, at HK$3.92 apiece, in a placement that had been widely anticipated.

    The stake represents about 2.5 percent of Construction Bank, and will leave Bank of America with a 16.6 percent holding in the Beijing-controlled lender once the sale is completed.

    67 Fed and other agencies to join U.S. fraud task force

    By Randall Mikkelsen, Reuters

    Tue Jan 6, 6:02 pm ET

    WASHINGTON (Reuters) – The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.

    The Federal Reserve, the internal watchdog of the new federal financial rescue program and four other agencies will join the presidential Corporate Fraud Task Force, which was established in 2002.

    The move comes amid calls by some lawmakers and other critics for a more aggressive federal crackdown on allegations of financial wrongdoing that have sent Wall Street reeling.

    68 Court backs $631 million judgment against Boeing

    Reuters

    Tue Jan 6, 5:23 pm ET

    NEW YORK (Reuters) – A California court has approved a jury verdict against Boeing Co (BA.N), which means the plane maker and defense contractor must pay former customer ICO Global Communications (Holdings) Ltd (ICOG.O) $631 million in damages, according to ICO on Tuesday.

    In the latest move of a long-running legal dispute over a satellite contract, the Los Angeles Superior Court backed a jury’s decision in October to award ICO compensatory damages of $371 million, punitive damages of $236 million, plus prejudgment interest.

    If it does not pay immediately, Boeing must also pay ICO 10 percent of the total each year, worth about $63 million, ICO said.

    69 N.Y. judge restrains Merkin funds in Madoff lawsuit

    Reuters

    Tue Jan 6, 5:45 pm ET

    NEW YORK (Reuters) – A judge extended an order on Tuesday barring hedge fund founder Ezra Merkin from shutting down funds that had invested with accused swindler Bernard Madoff or withdrawing money from them.

    New York State Supreme Court Justice Richard Lowe issued the extension in a lawsuit brought on December 23 by New York University, which says it lost $24 million when funds run by Merkin invested money with Madoff without its consent.

    Another judge issued the initial order on December 24 to stop Merkin from liquidating Ariel Fund Ltd, named in the lawsuit by the university along with Merkin and his Gabriel Capital Corp.

    70 Apple disappoints: No Jobs or big news at Macworld

    By Gabriel Madway and David Lawsky, Reuters

    Tue Jan 6, 4:26 pm ET

    SAN FRANCISCO (Reuters) – Apple Inc said on Tuesday it was dropping copy protection from songs sold on the Internet and debuted its slimmest 17-inch laptop yet, but with no dramatic products or master pitchman Steve Jobs, the company’s final Macworld performance disappointed Wall Street.

    Apple shares slid 0.7 percent, lagging by far the Nasdaq’s 1.7 percent gain, reflecting frustration over the lack of news from the trade conference that had previously introduced the iPhone to the world.

    “There were some innovative products, but no true blockbusters,” said Robert Francello, head of equity trading for Apex Capital hedge fund in San Francisco. “People were bullish going into it, and now they’re kind of taking money off the table.”

    71 Housing, factories and services remain in slump

    By Burton Frierson, Reuters

    Tue Jan 6, 5:42 pm ET

    NEW YORK (Reuters) – The slumping U.S. housing, factory and service sectors produced more misery for the world’s largest economy in the last two months of 2008 as the year-old recession looked set to drag on into 2009, data showed on Tuesday.

    The Federal Reserve, in minutes of its December interest rate meeting, did nothing to dispel worries over the economy.

    Fed officials believed the U.S. economy would face “substantial” risks even after benchmark interest rates were cut to near zero, with some worrying about the risk of deflation, the minutes showed.

    72 UK’s finance minister says country ‘far from through’ downturn: report

    AFP

    1 hr 14 mins ago

    LONDON (AFP) – British finance minister Alistair Darling said in an interview Wednesday that “we are far from through” the economic downturn, a sign that he will revise his forecast that recovery will begin in mid-2009.

    “In the current climate, no responsible finance minister could say that’s the job done, far from it. We are far from through this,” he told the Financial Times.

    In November, Darling forecast that Britain should now be at the midpoint of a one-year recession, and recovery was expected by the second half of the year.

    73 Top British retailer to shed 1,000 jobs: reports

    AFP

    Tue Jan 6, 2:03 pm ET

    LONDON (AFP) – Top British retailer Marks & Spencer is set to axe more than 1,000 jobs, reports said Tuesday, bringing further gloom to the high street as it struggles under the weight of the downturn.

    Unions voiced shock at the job cuts expected to be confirmed Wednesday by the clothing-to-food retailer, seen as a barometer of British consumer sentiment.

    “We want to know the business case for this decision and are seeking to meet with the company to have urgent meaningful consultation,” said John Gorle of the Usdaw union.

    74 Tears as Britain’s Woolworths stores shut for the last time

    by Paul Ellis, AFP

    Tue Jan 6, 11:43 am ET

    WARRINGTON, England (AFP) – British retail institution Woolworths closed the doors on a century of trading Tuesday, amid high emotions as the store became the latest victim of a deepening financial downturn.

    Staff wept outside the branch in Warrington, northwest England, as their store finally wound down. The collapse of Woolworths leaves 27,000 people out of work.

    The company’s 807 stores are a feature on almost every British high street. Administrators Deloitte gave the last 200 still operating a final day of selling off stock at heavily reduced prices.

    75 Toyota to suspend domestic production due to slump

    by Kyoko Hasegawa, AFP

    Tue Jan 6, 10:15 am ET

    TOKYO (AFP) – Toyota Motor Corp. said Tuesday that it would suspend production at all of its domestic plants for 11 days in February and March in response to a slump in sales.

    The move underscores the rapidly deteriorating fortunes of Japan’s auto giants, which have racked up bumper profits in recent years and invested heavily to expand their production facilities overseas.

    “We will suspend the operation of 12 Toyota factories in Japan for 11 more days,” a Toyota spokesman said.

    76 Germany’s Commerzbank says may raise funds via state-backed bond issue

    AFP

    Tue Jan 6, 11:18 am ET

    FRANKFURT (AFP) – Germany’s second biggest bank, Commerzbank, may raise fresh funds via what would be the first government-backed German bond issue within the framework of a banking sector rescue package, a spokeswoman told AFP on Tuesday.

    “Commerzbank is considering a bond issue” backed by government guarantees, she said, before adding that the bank had decided “neither the moment, nor the volume nor the duration,” of such an operation.

    The Financial Times Deutschland reported that bonds could be issued for a total value of between one and two billion euros (1.34-2.68 billion dollars), and that they could be launched this week.

    77 WTO says Lamy is sole candidate to head organisation

    AFP

    Mon Jan 5, 3:18 pm ET

    GENEVA (AFP) – The World Trade Organisation said Monday that its current director-general, Pascal Lamy, would be unopposed in his bid to renew his mandate when it expires in August this year.

    None of the organisation’s 153 member states put forward another candidate by the deadline of December 31, 2008, WTO spokesman Keith Rockwell told AFP.

    Lamy, who took the helm of the global trade watchdog in September 2005, announced last November that he would aim to take on a second term in office when his current four-year mandate expires in August.

    78 Euro dives against dollar as eurozone inflation slides

    AFP

    Tue Jan 6, 1:17 pm ET

    LONDON (AFP) – The euro sank against the dollar on Tuesday as tumbling eurozone inflation raised expectations the European Central Bank would slash interest rates again next week, analysts said.

    In late European trade, the European single currency dropped to 1.3443 dollars from 1.3632 dollars in New York late on Monday.

    Against the Japanese unit, the dollar climbed to 94.26 yen from 93.34 yen on Monday.

    79 Shares skyrocket as Porsche takes over Volkswagen

    by Lenaig Bredoux, AFP

    Tue Jan 6, 7:39 am ET

    FRANKFURT (AFP) – German luxury sportscar maker Porsche has taken over Volkswagen, the biggest European car manufacturer, after purchasing more than 50 percent of VW shares, Porsche said.

    Porsche said in a brief statement late Monday that by buying new VW shares, it “will thus increase its participation to 50.76 percent” of the group’s capital, compared with 42 percent before.

    The news sent Volkswagen shares rocketing up 13.48 percent in early afternoon trading on the Frankfurt stock market on Tuesday.

  3. From Yahoo News Science

    80 Pink iguanas unseen by Darwin offer evolution clue

    By Michael Kahn, Reuters

    Mon Jan 5, 5:43 pm ET

    LONDON (Reuters) – Pink iguanas unknown to Charles Darwin during his visits to the Galapagos islands may provide evidence of species divergence far earlier than the English naturalist’s famous finches, researchers said Monday.

    The findings also for the first time describe the black-striped reptiles — first seen in 1986 and only a few more times since — as a new species, said Gabriele Gentile of the University Tor Vergata in Rome, who led the study.

    They also add to understanding of the evolution of species on the remote islands, which remain much as they were millions of years ago and which inspired Darwin’s theory of evolution by natural selection. Many of its species are found nowhere else.

    81 Dutch study sheds light on virus that causes SARS

    By Michael Kahn, Reuters

    Tue Jan 6, 10:38 am ET

    LONDON (Reuters) – Dutch researchers have built a three-dimensional model of a type of virus that causes SARS in a step that could one day help in the battle against the deadly disease.

    The model, created using hepatitis coronavirus from mice, will help scientists understand severe acute respiratory syndrome (SARS), which appeared in China in 2002 and killed some 800 people globally before being brought under control.

    “I think we can translate what we found for this virus to the SARS virus,” Berend Jan Bosch, a virologist at Utrecht University who worked on the study, said in a telephone interview on Monday.

    82 U.S. still probing security satellite failure

    By Andrea Shalal-Esa, Reuters

    Tue Jan 6, 12:52 pm ET

    WASHINGTON (Reuters) – Four months after the newest U.S. missile-warning satellite built by Northrop Grumman Corp failed in orbit, officials are still investigating what happened.

    The classified Defense Support Program satellite known as DSP 23 was launched into geosynchronous orbit in November 2007 but stopped responding to commands in mid-September last year, as first reported by Reuters in November.

    “There’s not that much data available,” one U.S. defense official said, describing the current investigation as sophisticated, long-distance detective work.

    83 Diamonds suggest comets caused killer cold spell

    Reuters

    Sun Jan 4, 5:55 pm ET

    WASHINGTON (Reuters) – Tiny diamonds sprinkled across North America suggest a “swarm” of comets hit the Earth around 13,000 years ago, kicking up enough disruption to send the planet into a cold spell and drive mammoths and other creatures into extinction, scientists reported on Friday.

    They suggest an event that would transcend anything Biblical — a series of blinding explosions in the atmosphere equivalent to thousands of atomic bombs, the researchers said.

    The so-called nanodiamonds are made under high-temperature, high-pressure conditions created by cosmic impacts, similar to an explosion over Tunguska in Siberia that flattened trees for miles in 1908.

    84 Australian military warns of climate conflict: report

    AFP

    40 mins ago

    SYDNEY (AFP) – Australia’s military has warned that global warming could create failed states across the Pacific as sea levels rise and heighten the risk of conflict over resources, according to a report.

    The Australian Defence Force (ADF) analysis found the military could be called on to undertake more security, disaster relief and reconstruction missions as a result of climate change, the Sydney Morning Herald said.

    “Environmental stress, caused by both climate change and a range of other factors, will act as a threat multiplier in fragile states around the world, increasing the chances of state failure,” the analysis said.

    85 Whaling activists deny disrupting Japanese sailor search

    AFP

    1 hr 28 mins ago

    SYDNEY (AFP) – Anti-whaling campaigners have denied charges that they had harassed Japanese whalers searching for a missing crewman in Antarctic waters and said they were simply trying to help.

    “We were there definitely to assist them,” said Paul Watson, captain of the Sea Shepherd Conservation Society vessel the Steve Irwin.

    “I think it’s very impolite and very unfair to make these accusations that we were harassing them when they knew that in fact we were not,” Watson told AFP by satellite phone from on board the ship.

    86 Japan to hunt for rare elements in seabed: official

    AFP

    Mon Jan 5, 11:57 pm ET

    TOKYO (AFP) – Japan plans to start exploring its seabed to harvest rare earth elements used in electronics, hoping to reduce its heavy reliance on Chinese imports, a government official said Tuesday.

    Japan would also try to develop its capacity to extract badly needed energy resources such as oil, gas and methane hydrate in the project, which eyes test exploration by the 2018 fiscal year.

    Japan is believed to have plentiful resources under the sea but it has not previously exploited them due to the prohibitive costs of developing the underwater technology.

    87 SKorea unveils ‘Green New Deals’ to kick-start economy

    AFP

    Tue Jan 6, 12:09 am ET

    SEOUL (AFP) – South Korea said Tuesday it will invest some 38 billion dollars over the next four years in “eco-friendly” projects to create jobs and boost its slumping economy.

    The government unveiled what it calls “Green New Deals” following the first meeting of cabinet ministers this year, which was presided over by President Lee Myung-Bak.

    The deals feature 36 projects including the creation of network of bicycle tracks, provision of two million energy-saving “Green Homes” across the country as well as the construction of facilities using gas from rubbish.

    88 1 in 5 considering leaving Hong Kong due to pollution: survey

    AFP

    Mon Jan 5, 8:31 am ET

    HONG KONG (AFP) – One in five Hong Kong residents is considering leaving the city because of its dire air quality, a survey released Monday has found, raising fears over the financial hub’s competitiveness.

    The findings equate to 1.4 million residents thinking about moving away, including 500,000 who are “seriously considering or already planning to move,” according to the survey by the think tank Civic Exchange.

    Those most seriously thinking about fleeing the city include top earners and highly educated workers, raising questions over the southern Chinese city’s ability to attract and retain top talent, the report’s authors found.

    89 Japan races to build a zero-emission car

    by Kyoko Hasegawa, AFP

    Mon Jan 5, 3:28 am ET

    TOKYO (AFP) – As mass-produced electric cars come closer to reality, their makers are trying to polish the image of what experts say could be a hard sell in the current recession.

    “Please erase your image of electric cars being like golf carts,” a spokesman for Japan’s fourth-biggest automaker said before taking a zero-emission vehicle out for a spin.

    “It’s fast, powerful and smooth,” Mitsubishi Motors Corp. spokesman Kai Inada said of the iMiEV electric car, which is due to be launched next year.

    90 Smithsonian museum features tribe’s salmon-recovery effort

    By Les Blumenthal, McClatchy Newspapers

    Tue Dec 23, 6:00 am ET

    WASHINGTON – Below the 45-foot model of a right whale named Phoenix , behind the case that holds a rare giant squid and not far from the remains of a prehistoric coelacanth that was caught off Africa is an exhibit highlighting Pacific Northwest salmon and the Nisqually Tribe’s efforts to restore a wild run.

    Though it may not be the flashiest display in the new, $49 million Sant Ocean Hall at the Smithsonian Institution’s National Museum of Natural History , curators say that it’s a unique story about a fish that migrates thousands of miles against almost overwhelming odds before returning home to spawn.

    There’s also a human side to the tale. Salmon are the lifeblood of a Native American culture that stretches from Northern California to Alaska , and restoring the dwindling runs is an almost sacred duty. The northwest Pacific Coast became the most heavily populated Native American region because of the salmon.

    91 Researchers’ vision: restoring sight through artificial retinas

    By Robert S. Boyd, McClatchy Newspapers

    Mon Dec 29, 2:54 pm ET

    WASHINGTON – Scientists are testing artificial retinas that they hope can restore partial sight to people who’ve lost their vision to the most common causes of blindness.

    Retinitis pigmentosa, which ruins peripheral vision, and macular degeneration, which causes a blurred or blind spot in central vision, affect millions of people, especially the elderly.

    Both diseases irreparably damage the retina, the light-sensitive patch at the back of the eye that converts images into signals and relays them the brain.

    92 Bush moves to protect deepest part of Pacific Ocean

    By Renee Schoof, McClatchy Newspapers

    Mon Jan 5, 7:00 pm ET

    WASHINGTON – President George W. Bush on Tuesday will create three new marine monuments in the Pacific Ocean to protect the deepest place on Earth, some of the last pristine corals and sanctuaries for vanishing marine species.

    The three monuments – in the Mariana Islands in the western Pacific, the Rose Atoll off American Samoa and remote islands in the central Pacific – cover 195,280 square miles, the largest protected area of ocean.

    Conservationists and the White House declared a new era for protection of unique and endangered places in the ocean, opportunities of scientific discovery and an important effort to protect some of the last places where the ocean still looks like the abundant world of centuries or even thousands of years past.

    93 Coal ash spill reveals risks, lapses in waste regulation

    By Renee Schoof, McClatchy Newspapers

    Tue Jan 6, 6:47 pm ET

    WASHINGTON – The coal ash spill in Tennessee last month is putting a spotlight on whether the ash from 450 other power plants around the country could be contaminating the nation’s drinking water supplies.

    Some coal ash is recycled into products such as cement or placed in secure landfills, but much of it ends up in gravel pits, abandoned mines and unlined landfills – or in ponds like the one that burst in Kingston, Tenn. , on Dec. 22 . In the Tennessee incident, 5.4 million cubic yards of sludge laced with arsenic and other toxic materials poured over 300 acres – making it one of the nation’s worst environmental spills.

    The EPA in 2000 decided that coal ash wasn’t hazardous waste and left regulation up to the states. Now, however, environmental activists say the Tennessee spill shows the need for federal standards for how coal waste is handled at the coal-fired power plants around the nation.

    94 Where Venus’ Water Went

    Jeanna Bryner, Senior Writer SPACE.com

    Mon Jan 5, 8:50 am ET

    The water in Venus’ atmosphere is gone with the wind, new detections suggest.

    This absence is strange, because astronomers think Venus and Earth likely began with similar amounts of water since they are about the same size and formed at the same time (some 4.5 billion years ago). Yet today, Earth’s atmosphere and oceans contain 100,000 times the total amount of water on Venus.

    Due to a greenhouse effect on Venus, temperatures at the surface can soar to about 870 degrees Fahrenheit (465 degrees Celsius). And so the water from the planet’s surface immediately boils off. But its atmosphere is also relatively dry, and the question has been: where did that initial atmospheric water go?

    95 SES Americom Shuts Down Satellite TV Service

    Peter B. De Selding, Space News Staff Writer SPACE.com

    Mon Jan 5, 1:18 pm ET

    PARIS – Satellite-fleet operator SES is shutting down its IP-Prime service, which since 2007 has been selling satellite-delivered television programming to telecommunications companies to bundle with their Internet and telephone offering. SES’s SES Americom division made the announcement Dec. 15 saying IP-Prime’s customers – predominately rural telephone companies – were unable to win sufficient subscriber interest in the television service to justify continued operation.

    IP-Prime will cease operations July 31, just two years after it arrived on the market. Since its commercial introduction, SES had signed up 70 small telecom operators to IP-Prime. But these operators in total had secured fewer than 10,000 subscribers for the service.

    SES’s investment in IP-Prime includes a large program-distribution facility in Vernon Valley, N.J. More importantly, the company had dedicated its AMC-9 satellite’s 22 C-band transponders to IP-Prime, providing more than 300 channels of television to the telecom operators, including 20 channels in high-definition format.

    96 Surprise Star Formation Found Near Black Hole

    Andrea Thompson, Senior Writer SPACE.com

    Mon Jan 5, 1:18 pm ET

    LONG BEACH, Calif. – Two embryonic stars discovered just a few light years away from the Milky Way’s center show that stars can form in the potentially destructive reach of the powerful black hole at our galaxy’s center.

    Astronomers have long known that young stars could be found near the center of the galaxy, but they had no idea how the stars got there.

    The region wasn’t thought to be conducive to star formation because of the powerful gravitational tides stirred up by the 4 million solar-mass black hole at the galaxy’s center. Scientists had figured that the tides would rip apart any gas clouds that could act as stellar nurseries.

    97 Black Holes Preceded Galaxies, Discovery Suggests

    Andrea Thompson, Senior Writer SPACE.com

    Tue Jan 6, 5:47 pm ET

    LONG BEACH, Calif. – Astronomers may have solved a cosmic chicken-and-the-egg problem: Which came first – galaxies or the supermassive black holes in their cores?

    For several years now, researchers have known that galaxies and black holes must have co-evolved, with budding galaxies feeding material to a growing black hole while the immense gravity of the black hole generated in its vicinity tremendous radiation that in turn powered star formation. But the scientists hadn’t pegged the starting point.

    “It looks like black holes came first. The evidence is piling up,” said Chris Carilli of the National Radio Astronomy Observatory in New Mexico. Carilli presented his team’s findings here today at the 213th meeting of the American Astronomical Society.

    98 Space Shuttle Extension Options Carry High Costs

    Becky Iannotta, Space News Staff Writer SPACE.com

    Tue Jan 6, 7:32 pm ET

    WASHINGTON – NASA could extend space shuttle operations to 2012 by adding three flights – at a cost of roughly $5 billion – without dramatically affecting the agency’s plan to return astronauts to the Moon by 2020, according to a draft internal report on delaying the planned 2010 retirement of the orbiter fleet.

    However, extending shuttle operations to 2015, when a replacement system is slated to become available, would cost more than $11 billion and have severe impacts on lunar exploration hardware development, according to the draft report, prepared by a team at NASA’s Johnson Space Center in Houston.

    Both scenarios assume that the additional funding needed to keep the shuttle flying does not come out of the budgets for developing the replacement system, consisting of the Orion crew capsule and its shuttle-derived Ares 1 launcher. Both vehicles are being developed under the Constellation program, which encompasses the hardware NASA needs to transport astronauts to and from the International Space Station after the shuttle retires and later to the moon.

    99 Mars Trip Proposed for Space Shuttles

    Tariq Malik, Senior Editor SPACE.com

    Tue Jan 6, 7:32 pm ET

    The co-founder of a rocket launch firm has proposed an audacious plan to send astronauts on a one-way trek to Mars using a pair of tethered U.S. space shuttles that would parachute to the Martian surface.

    Inventor Eric Knight, a co-founder of the rocket firm UP Aerospace, detailed the plan – which he’s billed “Mars on a Shoestring” – in a thought exercise designed to encourage unconventional thinking for future human spaceflight.

    “My thought paper is a mental exercise to encourage new ideas,” Knight told SPACE.com in an e-mail interview. “I also hope it spurs a re-evaluation of the timeline for human exploration of Mars. Twenty years seems like an eternity, given that we were able to get to the moon in less than 10 years – and we were essentially doing so ‘from scratch.'”

    100 Dead Stars Harbor Asteroids

    Andrea Thompson, Senior Writer SPACE.com

    Tue Jan 6, 9:06 am ET

    LONG BEACH, Calif. – New observations of chewed-up asteroids around old dead  stars called white dwarfs bolster the idea that the Earth and other rocky planets in our solar system are far from alone in the universe.

    Astronomers used NASA’s Spitzer Space Telescope to peer at six such white dwarf stars and found the signature of asteroid debris circling the stars. An analysis of the light coming from the systems show the rings are made of some of the same materials as rocky bodies in our own solar system.

    “It strengthens suspicions that Earth-like planets are common,” said Michael Jura of UCLA here Monday at the 213th meeting of the American Astronomical Society.

    101 Why Obama’s Hotel Is Haunted

    Benjamin Radford, LiveScience’s Bad Science Columnist

    Mon Jan 5, 1:39 pm ET

    Before President-elect Obama’s family can move into the White House, they will be staying temporarily at the Hay-Adams Hotel. The posh palace is not far from the Oval Office, and is, some believe, haunted by one or more ghostly spirits – including Marian Adams, wife of Henry Adams.

    While the idea of the next president staying in a haunted hotel is interesting, such places are more common than most people realize. There are hundreds of inns, hotels, and motels in which some tenant, somewhere, at some time, has claimed to have seen a ghost or experienced something spooky.

    Indeed, the very nature of hotels creates plenty of opportunity for suggestible people to see ghosts, whether they exist or not.

    102 Sightings May Solve Whale of a Mystery

    Livescience Staff, livescience.com

    Mon Jan 5, 3:14 pm ET

    A large number of North Atlantic right whales have been spotted recently in the ocean off New England, suggesting a rare, potential wintering and breeding ground for the endangered marine mammals, researchers say.

    If confirmed, this could solve the mystery of where some of these whales spend winter.

    Right whales can weigh up to 100 tons. They got their name from whalers who thought the animals were the “right” ones to hunt, because they floated when killed and could be spotted swimming in waters near the shore. North Atlantic right whales are listed under the Endangered Species Act. Right whales are the rarest of all large whale species and among the rarest of all marine mammal species, according to the National Oceanic and Atmospheric Administration.

  4. The dK version.

    It has important meta content.

    • Edger on January 7, 2009 at 13:08

    Now you tell me it has more mass than thought? Are you sure that isn’t spin?

    Poor millionaires. Maybe we can start up same sort of “save the millionaires” campaign? Henry Paulsen and Paul Bernanke will be unemployed by the end of the month, I hear. They’ll need to know we have their backs. I wouldn’t want them to steal any public funds before they leave.

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