Tuesday, January 31, 2012

Mexico detects stolen fuel at gas station (AP)

MEXICO CITY ? Mexican officials said Monday they have found a new distribution point for thousands of gallons of gasoline stolen from state-owned pipelines: a seemingly normal gas station with official logos.

Thieves in Mexico had long been thought to unload stolen oil products on shadowy black markets. But it now appears the thefts have taken on a new sophistication, using a gas station that until 2010 had a concession from the state-owned Petroleos Mexicanos company, known as Pemex, to legally sell gas.

A Pemex official who was not authorized to be quoted by name said Monday that it was the first time that stolen fuel has been detected being sold through a gas station. In the past, primitive illicit fueling stations with improvised tanks had been discovered in fields, vacant lots and industrial buildings, presumably to supply fuel to private fleets.

But in a raid over the weekend in the northern city of Monterrey, the federal Attorney General's Office said it found about 12,690 gallons (48,000 liters) of stolen gasoline at the station, worth about $77,000. The station came under suspicion because it had not had a legitimate delivery of gas in some time.

Photos of the station showed that it had the normal green, red and white signs borne by all Pemex gas stations throughout Mexico. Pemex licenses the stations to be run by private concessionaires, who must buy fuel from the company. The Attorney General's Office said the Monterrey station's concession had been canceled in 2010.

The company is taking the threat seriously enough that it is starting a nationwide, random audit of stations throughout the country, in part because the volume of oil products being stolen appears to be too large to move through primitive, improvised outlets.

The company says it lost about 2.99 million barrels, or about 125 million gallons, of oil products in the first 11 months of 2011, the latest figures available. That represented about a full day's worth of total production for the company, and marked a 52-percent increase over the 1.96 million barrels stolen in the same period of 2010.

According to a U.S. court case, Mexican gangs trafficked some stolen crude over the border to U.S. refineries, and in June 2011, Pemex filed a lawsuit against nine U.S. companies and two individuals for alleged involvement in buying or processing Mexican oil products stolen by gangs.

Thieves have also sold unrefined fuels to bulk users such as brick kilns and factories, but the amount of gasoline being stolen would be inappropriate for such uses, or even private truck fleets.

Pemex said the task force will use mobile labs to test stations' gasoline to detect whether it was illicitly mixed or transported. It will also review tax and commercial records to detect whether any station is selling more gas than it has ordered.

But the 1,324 illegal taps and break-ins at Pemex pipelines discovered in 2011 are only part of the complex series of attacks on the company.

A Mexican legislator said Monday that an oil spill in early January in the Gulf coast state of Veracruz was intentionally caused to create a pollution emergency, in order to generate income and contracts for clean-up work.

Federal Congressman Antonio Benitez Lucho toured the Pemex plant where the spill originated and said a primitive cut had been made in a valve head, a hole knocked in a containment wall and a thick hose laid to the edge of the Coatzacoalcos river, which empties into the Gulf of Mexico.

In early January, about 63,400 gallons (240,000 liters) of crude spilled from the valve plant, blackening the river's shores and threatening wildlife.

"There was no doubt that it was deliberate," Benitez Lucho said.

"I think they spilled the crude so that the companies that do clean-up and remediation work ... could get quick, fast-track contracts," he said. "They are million-dollar companies that charge huge amounts for clean-up and remediation, and I think that is the motive."

The office of the Federal Attorney General for Environmental Protection said the case was still under investigation.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20120130/ap_on_bi_ge/lt_mexico_oil_theft

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Symantec, Lookout Mobile Security debate latest Android ?malware? attack (Appolicious)

If you have an Android device, malware threats are nothing new, just something with which you?ve learned to deal. Mobile security companies usually alert the public when any major malware or Trojan threat is discovered in the Android Market, but rarely do they disagree over what?s actually considered malware. This question?s been raised in regards to the latest string of Android Market botnets uncovered by Symantec, in what could be the largest botnet setup in Android?s history with as many as 5 million victims.

Dubbed ?Android.Counterclank? (or ?Apperhand SDK?) by Symantec, the malware was packaged across 13 different Android apps from different publishers, with titles ranging from Sexy Girls Puzzle to Counter Strike Ground Force. ?They don't appear to be real publishers,? Kevin Haley, a director with Symantec's security response team, said in an interview today. ?These aren't rebundled apps, as we've seen so many times before.?

But Lookout Mobile Security doesn?t think that this differentiated behavior means it?s a malware attack. They posted a blog over the weekend explaining their reasons for disagreeing with Symantec?s assessment, saying Android.Counterclank isn?t malware at all. It?s certainly not something most Android users want on their devices, but Lookout finds no evidence of outright malicious behavior, saying their capabilities are more like aggressive ad networks that put search icons on your home screen and run ads through your notifications bar.

?Malware is defined as software that is designed to engage in malicious behavior on a device. Malware can also be used to steal personal information from a mobile device that could result in identity theft or financial fraud,? reads Lookout?s blog. ?Apperhand doesn?t appear to be malicious, and at this point in our investigation, this is an aggressive form of an ad network ? not malware.?

Money-hungry ads or malicious malware? It seems the industry experts can?t agree, and such disparity could significantly shake up the consumer market. The debate over malware?s core definition came up a few weeks back with the Carrier IQ debacle, leading to a massive consumer backlash as privacy advocates blasted the carrier-supported software. When it comes to Android.Counterclank we have yet another example of how the Android ecosystem is being exploited, and how little this market is controlled. The debate over Android.Counterclank could ultimately circle back to Google, which is increasingly being held accountable for the Android Market experience.

Source: http://us.rd.yahoo.com/dailynews/rss/security/*http%3A//us.rd.yahoo.com/dailynews/external/appolicious_rss/rss_appolicious_tc/http___www_androidapps_com_articles10904_symantec_lookout_mobile_security_debate_latest_android_malware_attack/44353985/SIG=13m9m6kf0/*http%3A//www.androidapps.com/tech/articles/10904-symantec-lookout-mobile-security-debate-latest-android-malware-attack

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Monday, January 30, 2012

Sudan-held Vitol oil tankers freed: industry source (Reuters)

DUBAI (Reuters) ? Two oil tankers carrying South Sudanese crude that were held by Sudan earlier this month chartered by oil trading giant Vitol were freed late on Sunday, an industry source told Reuters.

"The two tankers were freed last on Sunday and they are carrying a total of 1.6 million barrels," said the industry source familiar with the matter.

South Sudan shut down oil production over the weekend in protest over north Sudan seizing shipments in a dispute over how much landlocked South Sudan should pay to pump oil to Port Sudan in the north.

Vitol, one of the world's largest oil trading houses with average sales of over 2.5 million barrels per day (bpd) in 2010, is expanding its exploration and production interests in West Africa and Asia.

Oil is the lifeline of both countries' economies but the south's secession left Khartoum controlling just 125,000 bpd of production compared to South Sudan's 350,000 bpd.

Oil provides about 98 percent of South Sudan's income and is vital for developing an already poor country devastated by years of civil war.

(Reporting by Amena Bakr)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20120130/wl_nm/us_sudan_oil

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Sudan says to release ships seized from South Sudan (Reuters)

ADDIS ABABA (Reuters) ? Sudan said on Saturday it would free tankers carrying cargoes of South Sudanese crude it had seized earlier this month, in a push to defuse a row over transit fees between former civil war foes that both depend on oil for almost all their income.

Landlocked South Sudan, which became independent in July after seceding from Sudan, has to use a northern pipeline and the port of Port Sudan to export its crude, and the two countries are in dispute over the transit fees it should pay.

The row heated up this month when Sudan said it was confiscating some of South Sudan's oil exports to make up for what it called unpaid fees. South Sudan retaliated by saying it would shut down its crude output by Saturday.

Oil is the lifeline of both countries' economies, and the south's secession left Khartoum with output of about 125,000 barrels per day and South Sudan with production that has fallen slightly to 350,000 bpd from 375,000 bpd in June.

Oil revenue is about 98 percent of South Sudan's income, and is vital if the government is to develop a country devastated by years of civil war and one of the world's poorest nations.

China is the biggest buyer of oil from the two countries, taking some 12.99 million barrels last year - five percent of overall 2011 crude imports by China, which is also the biggest investor in South Sudan's oilfields.

"President Bashir is ready to make this gesture. Sudan is going to release the vessels detained in Port Sudan," Sayed El-Khatib, deputy head of Sudan's negotiating team, told a media conference in the Ethiopian capital on Saturday.

"By taking this step, we expect the cover agreement to be signed, the shutdown to be halted, and the terms of the cover agreement to be respected," said El-Khatib. "Before the end of today, we could be able to sign the cover agreement. We, at least, are ready to sign."

A South Sudanese official, asked to comment, told Reuters: "We are studying the claim. We are waiting for confirmation from the shipping companies." He did not want to be named.

LEADERS FOUND NO ANSWER

Sudanese President Omar al-Bashir and South Sudan's President Salva Kiir met on the sidelines of a meeting of East African officials in Ethiopia on Friday, but failed to resolve their differences over the oil transit tariff.

Ethiopian Prime Minister Meles Zenawi, a broker between the two sides, met Bashir again on Saturday.

The row with Sudan has angered many in South Sudan, where independence, the result of a referendum following a 2005 peace accord, is often framed as the climax of a long struggle against political and economic marginalization by the north.

South Sudan's Kiir accused Khartoum of "looting" oil worth roughly $815 million and of building a tie-in pipeline to divert 120,000 barrels per day of southern oil flowing through the north.

Industry sources have said Sudan has sold at least one cargo of crude seized from South Sudan at a discount of millions of dollars to the official price charged by the South, and is offering more.

Awad Abdelfatah, undersecretary of Sudan's petroleum ministry, denied South Sudan's accusations of oil "theft."

"Since the 9th of July (South Sudan's independence day), we have opened our export line for them (South Sudan) without any hindrance," Abdelfatah told Reuters.

"We have been sending them invoices since that time and have been patient until the 1st of December. We decided then to take our dues. We didn't take anything more than what our invoice shows," Abdelfatah said.

Sudan's civil war, fought over issues of ethnicity, religion, ideology and oil, ebbed and flowed from 1955 to 2005 and caused the deaths of an estimated 2 million people. Southerners voted overwhelmingly for secession in a referendum in January 2011.

(Writing by James Macharia; Editing by Tim Pearce)

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/nm/20120128/wl_nm/us_sudan_oil

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Saturday, January 28, 2012

Suspect shown by Mexico cops says he beat Canadian (AP)

CULIACAN, Mexico ? A Mexican man charged with severely beating a Canadian woman at a resort hotel has told journalists that he tried to hold her in an elevator and punched her several times when she yelled for help.

Jose Ramon Acosta said during a Saturday news conference held by police that he had sneaked into the hotel in Mazatlan early the morning of Jan. 20 and encountered Sheila Nabb of Calgary, Alberta, by chance.

State prosecutor Marco Antonio Higuera Gomez says Acosta had been drinking and using drugs. Prosecutor have said the suspect was seen on a hotel security camera as he left the elevator.

The victim has been flown to Canada where she remains hospitalized.

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20120128/ap_on_re_la_am_ca/lt_mexico_canadian_attacked

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GOP hopefuls say they will release health records

CORRECTS LOCATION TO THE UNIVERSITY OF NORTH FLORIDA, INSTEAD OF UNIVERSITY OF SOUTH FLORIDA - Republican presidential candidates, from left, former Pennsylvania Sen. Rick Santorum, former House Speaker Newt Gingrich, former Massachusetts Gov. Mitt Romney and Rep. Ron Paul, R-Texas, stand during the National Anthem at the Republican presidential candidates debate at the University of North Florida in Jacksonville, Fla., Thursday, Jan. 26, 2012. (AP Photo/Paul Sancya)

CORRECTS LOCATION TO THE UNIVERSITY OF NORTH FLORIDA, INSTEAD OF UNIVERSITY OF SOUTH FLORIDA - Republican presidential candidates, from left, former Pennsylvania Sen. Rick Santorum, former House Speaker Newt Gingrich, former Massachusetts Gov. Mitt Romney and Rep. Ron Paul, R-Texas, stand during the National Anthem at the Republican presidential candidates debate at the University of North Florida in Jacksonville, Fla., Thursday, Jan. 26, 2012. (AP Photo/Paul Sancya)

(AP) ? The Republicans running for their party's presidential nomination say they will release their medical records if they are picked.

Ron Paul is the 76-year-old congressman from Texas. He was asked Monday if he would release his health records given he would be the nation's oldest president if he wins. Paul says he will and then challenged his younger rivals to a 25-mile bike ride.

Newt Gingrich, Mitt Romney and Rick Santorum all say they also will release their records. Gingrich joked that he has watched Paul campaign and says Paul is "in great shape."

Paul chided moderator Wolf Blitzer for the question. He says there are laws against age discrimination.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-01-26-GOP%20Debate-Medical%20Records/id-1f2da7061a8348f4b45a42c98c40f6cd

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Friday, January 27, 2012

UK court says lawyers can help right-to-die man (AP)

LONDON ? A paralyzed British man who wants to die won the first round in his legal battle Friday, when the High Court ruled his lawyers won't be prosecuted if they seek out experts to help him commit suicide.

The man, who is in his 40s and identified only as Martin, has locked-in syndrome after a stroke and communicates by moving his eyes. He says he wants to end his life, and his lawyers sought a declaration that they could seek information about his options ? including Swiss assisted-suicide clinics ? to help him prepare a legal challenge.

Under British law, assisting a suicide is punishable by up to 14 years in prison, but convictions are rare. More than 100 Britons have died in clinics run by the Swiss group Dignitas since 1998, and no relative or friend has been charged.

In Martin's case, lawyers say neither his wife nor any other member of his family is willing to help him die.

Two judges declared Friday that the lawyers could obtain information from experts and "identify one or more people or bodies that might be willing to assist Martin."

Martin's lawyers still plan to go to court seeking clarification of guidelines laid out by the country's chief prosecutor in 2010, which listed mitigating factors, such as compassion, in cases of assisted suicide.

Martin's lawyers want a declaration that professionals they find to help their client end his life will not face criminal or disciplinary action in doing so.

Rosa Curling, one of Martin's lawyers, welcomed the ruling.

"Martin has made clear to us that he wishes to end his life, and, thanks to the judgment handed down today in the High Court, we can now proceed with preparing his legal claim," she said.

"We can instruct doctors to advise him on his options regarding his wish to die and also take steps to identify an individual who might be willing to assist him in taking his life."

Source: http://us.rd.yahoo.com/dailynews/rss/britain/*http%3A//news.yahoo.com/s/ap/20120127/ap_on_re_eu/eu_britain_assisted_suicide

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Summary Box: Ireland returns to debt markets (AP)

IRISH RETURN: Ireland tapped the bond markets Wednesday for the first time since September 2010, when bond yields surged above 6 percent.

WHAT HAPPENED: Bondholders swapped $4.6 billion in bonds due in January 2014 for new bonds due in February 2015, delaying some of the country's debt obligations.

CONTEXT: The European Union and International Monetary Fund had to rescue Ireland out with cheap loans in November 2010 because of massive budget deficits stemming from the huge costs of bailing out the country's indebted banks.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_bi_ge/eu_ireland_financial_crisis_summary_box

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Thursday, January 26, 2012

HTC to Stop Making So Many Goddamn Phones [Htc]

HTC has a problem. It realizes it's addicted to new phones. And if HTC's execs make good on recent words, we may no longer be drowning in a torrent of the company's new models every other week. Effing finally. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/3yH1AbU2hWs/htc-to-stop-making-so-many-goddamn-phones

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Official: Miracle to find cruise ship survivors

Recovery efforts at the site of the cruise ship disaster off the coast of Italy has entered a new phase Tuesday, with crews ready to remove oil from the wreckage. NBC's Michelle Kosinski reports.

By NBC News and msnbc.com news services

Updated at 11:15 a.m. ET: GIGLIO, Italy -- The official overseeing the search effort of the capsized Costa Concordia has acknowledged it would take a miracle to find any survivors from the Jan. 13 cruise ship grounding.

Franco Gabrielli, head of the national civil protection agency, told reporters Wednesday that recovery operations would nevertheless continue until the ship, which is half-submerged off the Tuscan island of Giglio, was searched as much as possible.

Operations continued Wednesday as crews set off more explosions on the submerged third floor deck to allow easier access for divers. On Tuesday, the body of a woman was found on the deck.

Rescuers have found 16 bodies. At least six of the bodies remain unidentified, and are presumed to be among some of the 17 passengers and crew still unaccounted for.

The Concordia ran aground and capsized off the island of Giglio on Jan. 13 after the captain veered from his planned course and gashed the ship's hull on a reef, forcing the panicked evacuation of 4,200 passengers and crew.

Citing Italian civil protection officials, NBC News reports that a woman was identified Wednesday, but no name has been released yet. Officials also said that bodies may have floated away in recent days and that it may take more time to find victims of the accident.? Divers are now limited to searching for 20 minutes at a time as a result of poor conditions.

On Tuesday, the U.S. ambassador to Italy David Thorne was at Giglio's port with relatives of two missing Americans, Gerald and Barbara Heil of Minnesota. The Heil's children posted on their blog Monday that they are still waiting for word about their parents. The Heils are the only Americans missing in the wreck.

The search and rescue operation will continue in tandem with the fuel removal operation.

Workers kept up preparations to remove a half-million gallons of fuel from the ship before it leaks into the Tuscan sea. Pumping is expected to begin Saturday, and according to officials, tests will begin Wednesday.

Spokesman Martin Schuttevaer said "based on what we have seen the position of the tanks are in line with what we expected."

Officials have identified an initial six tanks that will be tapped, located in a relatively easy-to-reach area of the ship. Gabrielli told reporters Tuesday that once the tanks are emptied, 50 percent of the fuel aboard the ship will have been extracted.

The pumping will continue 24 hours a day barring rough seas or technical glitches in this initial phase, he said.

Survivors of the Costa Concordia are realizing the limits of their legal claims, as they signed away their rights when they bought their tickets. NBC's Kerry Sanders reports on what travelers should know.

The wife of the captain accused of grounding the Costa Concordia cruise ship said in an interview published Tuesday she was outraged over the way her husband had been portrayed by the media.

Captain Francesco Schettino, who is charged with multiple manslaughter and with abandoning ship before the evacuation of passengers and crew was complete, has told prosecutors he had been instructed to perform the maneuver by operator Costa Cruises.

"My husband is at the center of an unprecedented media storm," his wife, Fabiola Rossi, told French magazine Paris Match. "I cannot think of any other naval or air tragedy in which the responsible party was treated with such violence ... This is a man hunt, people are looking for a scapegoat, a monster."

Schettino has been branded a coward in Italian newspapers, after a recording of his conversation with a coast guard agent during the disaster was leaked to the press and widely circulated on the Web.

Asked if she was angry about his treatment, she said "wouldn't you be?"

He is "someone determined, firm and lucid. He is able to analyze situations, to understand and manage them. At home he is organized and meticulous, and otherwise he is a friendly and funny person who earns people's esteem," Rossi added in a version of the interview published on Paris Match's website.

In the recording with the coast guard, Schettino sounds bewildered and out of control as he is ordered back onto the ship and threatened with arrest.

Schettino's lawyer, who says his client admits partial responsibility for the disaster, is seeking to widen the investigation to include third parties with whom he was in contact, notably from ship owners, Costa Cruises.

The company, a unit the world's largest cruise ship operator Carnival Corp, has suspended Schettino and declared itself an injured party in the case. It has said "unfortunate human error" by Schettino caused the disaster.

Giglio and its waters are part of a protected seven-island marine park, favored by VIPs and known for its clear waters and porpoises, dolphins and whales.

The disaster prompted the U.N. cultural organization to ask the Italian government to restrict access of large cruise ships to Venice, which is a UNESCO World Heritage Site. UNESCO charged that the liners cause water tides that erode building foundations, pollute the waterways and are an eyesore.

DigitalGlobe

The Costa Concordia, carrying more than 4,200 passengers, ran aground Jan. 13 off the coast of Italy. At least 15 people died in the accident, and rescuers continue to search for others missing.

Related stories:

The Associated Press and Reuters contributed to this report.

?

Source: http://overheadbin.msnbc.msn.com/_news/2012/01/25/10233297-official-miracle-to-find-cruise-ship-survivors

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Wednesday, January 25, 2012

Fannie, Freddie writedowns too costly: regulator (Reuters)

WASHINGTON (Reuters) ? The regulator for Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) told lawmakers that forcing the government-controlled mortgage firms to write down the principal on underwater home loans would require more than $100 billion in fresh taxpayer funds.

In a letter sent on Friday to the Republican and Democratic leaders of a House of Representatives government oversight panel, the Federal Housing Finance Agency explained why it has long opposed principal reductions for borrowers who owe more than their homes are worth. In that situation, the mortgage is deemed "underwater."

About 22 percent of U.S. home mortgages have negative equity totaling about $750 billion, meaning that about one in five U.S. home mortgages is "underwater" with the amount owed exceeding the home's value, according to CoreLogic, a financial information and analytics company based in Santa Ana, California.

The Federal Housing Finance Agency said it had determined that such reductions would be more costly for Fannie Mae and Freddie Mac than forbearance, which was the less expensive option by comparison. The two mortgage firms have been using forbearance to help borrowers struggling to make payments.

Forbearance lets the borrow reduce or suspend payments on a loan for a specific amount of time.

The regulator, also known as the FHFA, has been under pressure from Democrats to permit the writedown of principal by the two government-controlled mortgage finance providers as a way to help some of the millions of U.S. homeowners whose mortgages are "underwater."

Representative Elijah Cummings of Maryland, the top Democrat on the House Oversight and Government Reform Committee, has pushed the housing regulator to explain its thinking in deciding not to offer principal reductions.

PRESERVING ASSETS A CONCERN

The FHFA, however, has maintained that widespread principal forgiveness would undercut the finances of Fannie and Freddie, which have already received about $169 billion in taxpayer aid. Republicans have supported the FHFA's decision.

"FHFA has a statutory responsibility as conservator to preserve and conserve the assets and property of the regulated entities," FHFA's acting director, Edward DeMarco, wrote in the letter to lawmakers dated January 20.

The Obama administration wants to secure widespread principal reductions in a legal settlement between the government and some of the biggest mortgage servicers. The settlement is aimed at cleaning up alleged foreclosure abuses.

"Given that any money spent on this endeavor would ultimately come from taxpayers and given that our analysis does not indicate a preservation of assets for Fannie Mae and Freddie Mac substantial enough to offset costs, an expenditure of this nature at this time would, in my judgment, require congressional action," DeMarco said in the letter.

In 2008, Fannie Mae and Freddie Mac were taken over by the government as mortgage losses mounted. Millions of loans issued during the housing bubble, many of them made to subprime borrowers with spotty credit histories, soured after the housing bust -- yet they remain on Fannie's and Freddie's books. Delinquencies on those loans continue to rise.

Fannie Mae and Freddie Mac own or guarantee roughly half of all outstanding mortgages in the United States. Of the approximately 30 million mortgages guaranteed by the two firms, close to 3 million of those loans were held by underwater borrowers as of last summer, according to an analysis provided in the letter.

Another barrier to principal writedowns, aside from pushing losses at the two firms even higher, DeMarco said, was the cost associated with new technology and training to servicers that would be needed to launch a program that offers principal forgiveness.

The FHFA told lawmakers that forbearance is a less costly option. Principal forbearance limits accounting losses and allows Fannie and Freddie to recoup the principal at some later point, according to the regulatory agency's letter.

"The net result of the analysis is that forbearance achieves marginally lower losses for the taxpayer than forgiveness, although both forgiveness and forbearance reduce the borrower's payment to the same affordable level," the FHFA's letter said.

The housing regulator also assured lawmakers that the FHFA remains committed to helping borrowers stay in their homes and will continue to work on such principal forbearance plans and government initiatives to modify or refinance loans.

The Federal Reserve, in a white paper to Congress earlier this month, said writedowns "had the potential to decrease the probability of default" and "improve migration between labor markets."

However, the Fed stopped short of endorsing such an initiative and noted concern that writing down loan balances would create a moral hazard - the concept that rescue efforts breed further behavior that exacerbates the existing problem - and could prompt other borrowers to stop making timely loan payments.

(Reporting By Margaret Chadbourn; Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http%3A//news.yahoo.com/s/nm/20120124/bs_nm/us_usa_housing_fhfa

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Missing snowmobiler rescued but second found dead (Reuters)

DENVER (Reuters) ? One of two snowmobilers missing following an avalanche in northwestern Colorado was rescued after an exhaustive search on Monday but the other was found dead, authorities said.

Missi White, spokeswoman for Jackson County Search and Rescue, said one of the two snowmobilers was rescued and taken to a local hospital after being spotted from the air by searchers.

White said she had no further information on the snowmobiler who was found dead following the search.

The two snowmobilers, who were not immediately identified by authorities, had gone missing in a snowslide at 10,180-foot Buffalo Pass.

The incident followed a weekend in which two skiers were killed in avalanches at separate Colorado ski resorts over the weekend.

Three juveniles on Vail Mountain were skiing in an area closed off due to the avalanche danger when the trio triggered an avalanche on Sunday, said Jesse Mosher, spokeswoman for the Eagle County Sheriff's Office.

Taft Conlon, 13, died from chest injuries he suffered in the slide, Eagle County Coroner Kara Bettis said.

The other two juveniles were not seriously injured.

At the Winter Park ski resort northwest of Denver, a 28-year-old man was reported missing by his skiing partners late on Sunday afternoon, resort spokeswoman Mistalynn Lee said.

The ski patrol located the man, who was "unresponsive," on an expert ski trail. He was transported to a local hospital where he was pronounced dead, Lee said.

Grand County Coroner Brenda Bock identified the dead man as Christopher Norris of Evergreen, Colorado. Bock said an autopsy concluded that he died of asphyxiation.

Brian Lazar, deputy director of the Colorado Avalanche Center, said a thin early winter snowpack combined with recent heavy snowfalls and high winds on Colorado slopes had created the dangerous conditions.

The risk of a natural avalanche lessened on Monday, he said, but human-triggered slides are likely.

Any snow-covered slope of 30 degrees or steeper is prone to avalanches, Lazar said, adding, "If you are venturing into the backcountry, choose your route carefully."

A Pacific storm moving into the Rockies on Monday will bring more snow, but forecasts are for light accumulations which shouldn't elevate the avalanche risk, Lazar said.

(Editing by Dan Whitcomb and Greg McCune)

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/nm/20120124/us_nm/us_avalanches_deaths_colorado

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Tuesday, January 24, 2012

Klipsch Mode M40 noise-cancelling headphones review

Around these parts, we've generally had favorable opinions of Klipsch's audio products. Whether it's been something as small as its S4 line of smartphone oriented in-ears or grand speaker systems like its AirPlay-enabled G-17 Air, we've usually ended up awarding the brand our highest praise. If you'll recall, it was little over a year ago that Klipsch introduced its $150 Image One on-ear headphones -- the company's first set ever that weren't of the intra-aural variety, and a favorite of our own James Trew.

Fast forward to the present, and the company's unleashed its second proper over-the-head headphone, the Klipsch Mode M40 with active noise-cancellation. In recent years, headphones have exploded in popularity -- many companies have been furiously trying to blend good sound with fashion-forward looks. It's safe to say that's Klipsch's end game here, and is asking that you part ways with 350 bones to get in on the action.

Put simply, these aren't a follow-up to the Image Ones, but rather, a luxury pair that takes cues from the company's reference series headphones. Of course, as we've come to expect from Klipsch, the M40s do have some notable tricks up their yokes aside from their debatably fashionable looks -- the company promises they'll cancel noise for a massively long 45 hours on a single AAA battery, and both earcups feature an interesting dual-driver array with a 15mm tweeter and a 40mm woofer. So, have the M40s made us smitten with Klipsch all over again? Or not? Maybe something a bit more complicated? Click on past the break to find out!

Continue reading Klipsch Mode M40 noise-cancelling headphones review

Klipsch Mode M40 noise-cancelling headphones review originally appeared on Engadget on Tue, 24 Jan 2012 13:00:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/24/klipsch-mode-m40-noise-cancelling-headphones-review/

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Monday, January 23, 2012

Video: Polycom Pops After Hours

Video networking firm Polycom shares surge after hours after reporting revenue and EPS of $0.41 cents a share-- 12 cents above consensus, with CNBC's Courtney Reagan.

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Source: http://video.msnbc.msn.com/cnbc/46106452/

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The Best Photo Management App for Linux [Linux App Directory]

The Best Photo Management App for LinuxLinux may not have a ton of super advanced photo managers, but it has a few solid programs, the best of which is easily the near professional-grade digiKam.

  • Easily import photos from your camera, flash drive, or hard drive
  • Organize photos in albums and sub-albums, complete with comments and tags for easy navigation of large libraries
  • Automatically sort albums and photos by folder, category, date, file size, and more
  • Drag and drop photos from digiKam to other KDE applications
  • Support for over 300 RAW file formats
  • Compare similar pictures side by side
  • Geotag photos and view albums on a global map
  • Fix issues like red eye, color, and lighting with just a few buttons
  • Supports a number of plugins for the image editor
  • Create slideshows, calendars, and other creations with your photos
  • Share your photos via email or social networks like Flickr, Picasa, SmugMug, Facebook, and more

DigiKam is a seriously full-featured program, so to see everything it has to offer, check out its features page.

The Best Photo Management App for Linux

DigiKam is designed for the more professional side of photographers, supporting tons of features for managing large libraries, editing your photos, and exporting them to other services. It's by far the most feature-filled photo manager on Linux, which easily puts it into the top slot. You won't find features like its global map or plugin-based photo editor in other editors, meaning it has just about anything a normal user could possibly want and more. It even walks you through some of its most important settings the first time you start it up, which is fantastic, since there are so many different options. If you want to manage your photos a certain way, digiKam will let you do it?which is not something that a lot of apps can necessarily say.

The Best Photo Management App for Linux

As with most feature-packed programs, digiKam's biggest downfall is that its interface is cluttered, confusing, and really overwhelming to new or casual users. While its first-launch walkthrough is helpful, the program still suffers from being difficult to use. Most of the buttons are small and difficult to understand without hovering over them, and lots of features like "Light Table" are just not descriptive when you first start. If you want to use digiKam, you'll probably need to peruse the documentation, or at least the feature list, before starting or you'll get lost pretty quickly. Its other downside is that it's a KDE program, which means GNOME users?who are in the majority?might find that it feels a little bit out of place, not to mention comes with a heaping pile of dependencies to install. Still, it's worth it for the power behind the program.

The Best Photo Management App for Linux

Shotwell is the default photo manager in Ubuntu. It's much easier to use than digiKam, albeit not quite as feature-filled, but it should satisfy most casual users just fine. You can sort photos into events, add tags, edit them with a basic editor (crop, red eye, enhance, color correction), and upload photos to the places like Facebook, Flickr, and Picasa. If you're a GNOME user, or just a casual user for whom digiKam sounds a bit intimidating, Shotwell is a great choice.

F-Spot will be familiar to longtime Ubuntu users, since it used to be the default, but Shotwell has surpassed it as of late. F-Spot is a bit more resource intensive and contains Mono dependencies many users would prefer not to have, but it's also a bit more mature than Shotwell. Its tagging system is a bit more robust, it has a slightly more advanced editor, and can upload to more social networks than Shotwell. I recommend trying both and seeing which one works best for you. Shotwell can import albums directly from F-Spot, which makes it really easy to give them each a shot and compare them side-by-side.

gThumb is a photo manager that's very basic compared to the rest, but in a lot of ways that's what makes it great. It uses the folder structure of your pictures folder to browse everything, rather than a database, and contains basic photo editing tools. It's the perfect companion if you just want to manage your photos on your hard drive, but occasionally edit, bookmark, or create slideshows with your images.

It's also worth mentioning that some Windows photo editors like Picasa run pretty well in Wine, if you don't like any of Linux's offerings. And, as always, if you have a favorite photo manager that we didn't mention, let us know about it in the comments.


Lifehacker's App Directory is a new and growing directory of recommendations for the best applications and tools in a number of given categories.

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/JZGBG86Si8E/the-best-photo-management-app-for-linux

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Sunday, January 22, 2012

Romney pressing reset after SC loss (AP)

ORMOND BEACH, Fla. ? Mitt Romney is pressing reset.

After a crushing loss to Newt Gingrich in South Carolina, the former Massachusetts governor made clear Sunday that he plans to attack his chief rival's character, release his tax returns this week and try to right a campaign he acknowledged had been knocked off kilter.

"It was not a great week for me," Romney acknowledged during an interview on "Fox News Sunday."

Romney now turns to Florida at what is possibly the most critical moment of his campaign, after two weeks of sustained attacks from his opponents and a series of self-inflicted errors that erased any notion that he would be able to lock up the nomination quickly by winning this state's Jan. 31 primary.

"I'm looking forward to a long campaign," Romney said. "We are selecting the president of the United States. Someone who is going to face ups and downs and real challenges, and I hope that through this process, I can demonstrate that I can take a setback and come back strong."

Even if Romney does manage a victory here ? his Florida campaign is by far the strongest of any in the GOP field, and he and his allies have been alone on the air for weeks ? the race has become a two-way fight between him and Gingrich, the former House speaker with a huge dose of momentum.

And now Romney's team is girding for a long and costly fight for the party nod that extends well beyond Florida after Saturday night's shellacking in South Carolina that underscored the former Massachusetts governor's vulnerabilities and undermined his claims of becoming the inevitable Republican nominee.

Over the next 10 days, the candidates ? including former Pennsylvania Sen. Rick Santorum and Texas Rep. Ron Paul ? will meet twice on the debate stage, a venue where Gingrich has thrived in recent weeks and Romney has struggled some when pressed about questions about his wealth and private business experience. The debates ? Monday in Tampa and Thursday in Jacksonville ? present fresh opportunities for both breakout performances and mistakes.

Romney previewed his more aggressive posture and lines of attack toward Gingrich on Saturday night, saying: "Our party can't be led to victory by someone who also has never run a business and never led a state." He also argued, again without naming Gingrich, that "we cannot defeat that president with a candidate who has joined that very assault on free enterprise." Gingrich has attacked Romney's record running Bain Capital, a private equity firm.

But, behind the scenes, aides also indicated that Romney would go after Gingrich's character in Florida as a way to distinguish the father of five who has been married to the same woman for 42 years from his thrice-married rival. And the aides argued that the results in South Carolina don't indicate Republican primary voters everywhere are willing to overlook Gingrich's two divorces and acknowledged infidelity. Gingrich's second wife, Marianne, told ABC News in an interview aired Thursday that the former speaker asked her for an open marriage so he could continue having an affair with the House staffer who is now his third wife.

Publicly, Romney has refused to engage on the subject thus far, saying at a debate Thursday, "Let's get onto the real issues. That's all I got to say."

But Romney has started poking at Gingrich's character by raising questions about the ethics investigation against Gingrich in the 1990s when he was House speaker, and suggested that the former Georgia lawmaker was hiding something by refusing to release reams of documents he apparently gave to investigators back then.

Asked Sunday whether character would become an issue, Romney said: "No question."

"Leadership is the key attribute that people should look for in considering a president," Romney said, "and character is a big part of leadership, as is vision, sobriety, steadiness."

Romney's team also plans to contrast his experience as a governor and businessman with Gingrich's experience in Congress and his later work with former colleagues on behalf of businesses.

"It will really come down to someone who's offering Washington experience, congressional experience, K Street experience, versus a governor and a businessman," said Stuart Stevens, Romney's top strategist. "It will be a straight-up choice."

Romney, meanwhile, also is working to fix a key vulnerability ? defensiveness over questions about his personal wealth, including money in funds in the Cayman Islands, a popular haven for international investment.

Under pressure to release his tax returns immediately, Romney reversed course and said he would release those documents for 2010 and an estimate for 2011 on Tuesday ? months ahead of their April planned release.

The documents will lay out just how Romney, a multimillionaire many times over, makes his money and reveal his actual tax rate, which Romney estimated at about 15 percent.

New Jersey Gov. Chris Christie, a backer who had called on Romney to immediately release his returns, told NBC's "Meet the Press" that Romney made the right decision, saying: "I'm happy he's doing it."

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_el_pr/us_romney

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Greece, creditors move closer to deal in race against (Reuters)

ATHENS (Reuters) ? Greece and its private bondholders resume debt swap talks on Friday amid signs they are inching closer to a long-awaited deal needed to prevent a chaotic default by Athens.

Cash-strapped Greece is fast running out of time as it pushes to wrap up an agreement by Monday paving the way for a fresh injection of aid before 14.5 billion euros ($18.5 billion) of bond redemptions fall due in March.

After a breakdown in talks last week over the coupon, or interest payment, that Greece must offer on its new bonds raised fears of a disastrous bankruptcy, the two sides appeared to be moving to overcome their differences.

"The atmosphere was good, progress was made and we will continue tomorrow afternoon," Finance Minister Evangelos Venizelos said after Thursday's round of talks in Athens with Charles Dallara, head of the Institute of International Finance representing bondholders.

The IIF issued a statement echoing the minister, and called the discussions "productive."

Bankers and sources close to the talks say an agreement could be sealed in the next few days, though previous predictions of a quick resolution have proven premature.

"They are moving towards a deal and I believe they will clinch it as early as possible, maybe even before next week's Eurogroup meeting," an official who declined to be identified told Reuters.

The stakes could not be higher as the two sides head back to the negotiating table on Friday.

Greece needs to have a deal in the bag before funds are doled out from a 130 billion euro rescue plan that the country's

official lenders, the European Union and the International Monetary Fund, drew up in October.

The paperwork involved alone is expected to take weeks, meaning failure to secure a deal soon could put Athens at risk of a chaotic default in March, which in turn could jolt the financial system and tip the global economy into recession.

A large chunk of the bond swap must be agreed by noon on Friday and formalized before Monday's meeting of euro zone finance ministers, Venizelos has said.

Adding to the pressure, officials from the "troika" of foreign lenders have begun meetings with the Greek government on Friday to discuss reforms and plans to finalize that bailout package.

"Now is the crucial moment in the final battle for the debt swap and the crucial moment in the final and definitive battle for the new bailout," Venizelos told parliament on Thursday. "Now, now! Now is the time to negotiate for the sake of the country."

The troika heads are meeting Finance Minister Evangelos Venizelos and are scheduled to visit Prime Minister Lucas Papademos at 1600 GMT.

VARIABLE COUPON

Progress has been hard to come by in the latest round of negotiations, with bankers worried about suffering losses far higher than the 50 percent writedown they were expected to take on the nominal value of their bonds.

Actual losses for investors are expected to be much higher depending on the terms, such as the coupon, being negotiated.

A source close to the talks earlier said Athens and its foreign lenders had initially offered a coupon of just over 3.5 percent, but bondholders rejected that as too low. They were seeking a coupon of at least 4 percent, the source said.

One of the options being considered is a coupon that rises after staying stable for the first 10 years, another source close to the talks has said.

According to Greek press reports not identifying their sources, the two sides may agree a coupon ranging between 3 and 5 percent, depending on the new bonds' maturities, resulting into a net present value loss for investors between 65 and 70 percent.

Investors have also bridled at Greece's threat to enforce losses if not enough bondholders sign up to the deal.

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For a Breakingviews calculator on how Greek bondholders could get a scalping see: http://graphics.thomsonreuters.com/12/01/BV_GRBZZCT0112_VF.html

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The swap is aimed at cutting 100 billion euros off Greece's over 350 billion euro debt load.

Greece is stumbling through its worst economic crisis since World War Two, with unemployment at record highs and near-daily protests and strikes against austerity measures that have deepened an already brutal recession.

Nearly one out of two youths is unemployed and anger against waves of tax hikes and pay cuts is running high.

Its latest bailout - drawn up on condition Greece pushes through painful cuts and structural reforms - is expected to reduce Greece's debt to a more manageable 120 percent of gross domestic product in 2020 from about 160 percent now.

(Writing by Deepa Babington; additional reporting by Athens office; editing by David Stamp/Chris Pizzey)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120120/bs_nm/us_greece_debt

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Saturday, January 21, 2012

Video: SBUX vs. MCD: Which is Better Buy?

Heavyweights Starbucks and McDonald's are both trading near all-time highs. So which is the better buy? Matt Disfrisco, analyst at Lazard Capital Markets, has a "buy" rating on both stocks.

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Source: http://video.msnbc.msn.com/cnbc/46056064/

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Apple offers software for interactive textbooks

[unable to retrieve full-text content]NEW YORK (AP) ? Apple is launching a new version of its iBooks software, tailored to present vivid, interactive textbooks for elementary and high school students on the iPads.

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-19-Apple-Textbooks%201st%20Ld-Writethru/id-79e5b6577f9f4790a21b8b23fd988399

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Friday, January 20, 2012

Google's 4Q disappoints as advertising prices sink

In this Jan. 17, 2012 photo, a sign for Google is displayed behind the Google android robot, at the National Retail Federation, in New York. Google Inc., releases quarterly financial results Thursday, Jan. 19, 2012, after the market close. (AP Photo/Mark Lennihan)

In this Jan. 17, 2012 photo, a sign for Google is displayed behind the Google android robot, at the National Retail Federation, in New York. Google Inc., releases quarterly financial results Thursday, Jan. 19, 2012, after the market close. (AP Photo/Mark Lennihan)

(AP) ? What was supposed to be a celebration of the most prosperous quarter in Google's 13-year history instead turned into a major letdown.

The disappointment sunk in Thursday after Google's fourth-quarter earnings report showed the Internet search leader fetched less money per click on its ubiquitous online ads.

That came as an unsettling surprise because investors had assumed a surge in online holiday shopping in the U.S. would enable Google Inc. to charge more for its ads. Instead, the average price decreased by 8 percent from the same time in 2010.

Google executives traced part of the decline to technical changes aimed at delivering more ads that attract people's interest. Those tweaks apparently paid off as the total clicks on Google's ads increased 34 percent from the previous year.

Most of the trouble seemed to be rooted in Europe, where government debt woes are hurting the economy, said Benchmark Co. analyst Clayton Moran. "I think everyone underestimated how quickly the European online ad market would suffer."

The weakening euro also converted into fewer dollars during the quarter, another factor that undercut Google.

It all added up to a dramatic slowdown in Google's earnings growth that alarmed investors. Net income edged up just 6 percent from the same October-December period in 2010, coming off year-over-year increases of more than 25 percent in each of the previous two quarters.

Google shares plunged $57.67, or 9 percent, to $581.90 in extended trading after the results were announced.

The showing could renew Wall Street concerns about Google's moneymaking prowess under the direction of co-founder Larry Page, who replaced Eric Schmidt as CEO last April. Page took the job with a reputation for being more willing to invest in long-term projects at the expense of short-term profits. In the latest quarter, Google's operating expenses rose 34 percent from the previous year, outpacing a 25 percent increase in revenue.

If Google's stock falls as sharply during Friday's regular trading as it did in Thursday's extended trading, the shares will be worth slightly less than they were when Page became CEO.

Even before the deceleration in Google's fourth-quarter earnings, analysts have been fretting that the company's proposed $12.5 billion acquisition of cellphone maker Motorola Mobility Holdings Inc. will crimp profits. The deal is still awaiting approval from regulators in U.S. and Europe.

Buying Motorola is part of Page's push to expand Google's empire beyond the dominant Internet search engine that generates most of the company's revenue. Much of the money is being poured into Google's Android software for smartphones, its Chrome web browser, its YouTube video site and a social networking service called Plus that is being quickly built to challenge Facebook.

Page, 38, made it clear he sees no reason to change what he has been doing so far. "I am very happy with our results overall in the quarter," he told analysts during a Thursday conference call.

More people probably would have shared in his ebullience if not for the curse of great expectations.

With more people than ever before shopping for holiday gifts and bargains on computers and mobile devices, Google was supposed to scale new financial heights in the October-December period.

Analysts had forecast Google would earn $3 billion for the first time during any three-month period since the company's 1998 inception. Instead, Google made slightly less money than it did a quarter earlier.

The company earned $2.7 billion, or $8.22 per share, in the fourth quarter. That compared to net income of $2.5 billion, or $7.81 per share, at the same time in 2010.

The most recent quarter included an $88 million charge to account for the diminished value of a $500 million investment that Google made in wireless network provider Clearwire Corp. in 2008. Google had previously absorbed a $355 million charge on its Clearwire investment.

If not for costs covering employee stock awards, Google said it would have earned $9.50 per share. Analysts surveyed by FactSet had expected $10.51 per share.

Revenue totaled $10.6 billion, up from $8.4 billion in the previous year. It's the first time Google's quarterly revenue topped $10 billion, but even that figure fell shy of analyst projections.

After subtracting ad commissions, Google's revenue totaled $8.1 billion. That was about $300 million below the average analyst forecast. Revenue would have been about $240 million higher had exchange rates in Europe remained steady with the third quarter's rates, according to Patrick Pichette, Google's chief financial officer.

While investors fixated on Google's falling ad prices, Page hailed the inroads the company is making beyond the Internet search engine that brings in most of its revenue.

The Plus service that Google introduced seven months ago now has more than 90 million users, Page said. That's more than double the approximately 40 million users of three months ago. Facebook still has a big lead with more than 800 million users after nearly eight years in existence.

About 80 percent of Plus users visit the service at least once a week, according to Google. The company is trying to increase the frequency by including recommendations about Plus accounts in its search results, a recent change that has raised questions about whether Google is abusing its position as the Internet's leading gateway to unfairly promote its own services over its rivals.

Page is hoping Plus can be as successful as Google's Gmail service, which now has 350 million accounts, and the Android software, which is now running on 250 million smartphones and other devices, according to numbers the company released Thursday.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-01-19-Earns-Google/id-95ce996b7832411082630fa5314652bf

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Thursday, January 19, 2012

Asia stocks advance amid positive US jobs data (AP)

BANGKOK ? Asian stock markets rose Friday as strong earnings and positive jobs data out of the U.S. added to hopes that the economic recovery in the world's largest economy is for real.

Japan's Nikkei 225 index rose 1.2 percent to 8,744.15. South Korea's Kospi rose 0.9 percent to 1,932.71. Hong Kong's Hang Seng added 0.2 percent to 19,989.15 and Australia's S&P/ASX 200 was 0.5 percent higher at 4,234.70.

Benchmarks in Singapore, New Zealand and mainland China were also higher. Taiwan markets were closed ahead of Chinese New Year, which starts Monday.

Strong corporate earnings reports in the U.S. boosted investor tolerance for risk assets like stocks. IBM Corp.'s fourth-quarter earnings also beat Wall Street expectations. Bank of America and Morgan Stanley both reported results that were better than analysts were expecting.

That helped lift shares in Japan's major banks, including Mitsubishi UFJ Financial Group, which jumped 4.8 percent, and Mizuho Financial Group, up 4.6 percent. Nomura Holdings added 3.4 percent.

On top of earnings came data that showed the U.S. job market is strengthening. The number of people seeking unemployment benefits fell last week to 352,000, the fewest since April 2008.

Resources stocks advanced following strong gains in metals prices overnight.

Mining giant Rio Tinto Ltd. rose 0.8 percent. Fortescue Metals Group, Australia's third-biggest iron ore producer, gained 1.2 percent.

Meanwhile, France and Spain held successful bond auctions, their first since Standard & Poor's downgraded their credit ratings last week. The result was a sign that politicians and central bankers have at least temporarily stemmed the spread of Europe's debt crisis.

Analysts warn, however, that a looming recession could hinder efforts to slash deficits while Greece depends on a deal with banks to avoid a disastrous default this spring. Closely watched debt-restructuring negotiations are taking place this week between Athens and private creditors. Failure to seal an agreement would likely result in a financially disastrous default by Greece.

"For the moment, the market expects a deal to be made while downside risk still exists and any disappointment could end the week of rallies," Credit Agricole CIB in Hong Kong said in an email.

The Dow Jones industrial average gained 0.4 percent to close at 12,623.98. The Standard & Poor's 500 index added 0.5 percent to close at 1,314.50. Both averages are at their highest since July. The Nasdaq added 0.7 percent to close at 2,788.33.

Benchmark crude for February delivery was down 4 cents at $100.35 a barrel in electronic trading on the New York Mercantile Exchange.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20120120/ap_on_bi_ge/world_markets

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Algeria says kidnapped governor freed on Libyan soil (Reuters)

ALGIERS (Reuters) ? A kidnapped Algerian regional governor has been freed after his captors were intercepted inside Libya, officials said on Tuesday, an incident that will raise new concerns about instability spilling over from Libya to its neighbors.

Two Algerian security sources earlier told Reuters the governor was being held by al Qaeda. Security experts have warned the group is exploiting turmoil in Libya after the fall of Muammar Gaddafi to carve out a safe haven.

Algeria's state news agency, citing a source close to the Interior Ministry, said the governor, Mohamed Laid Khelfi, was freed by the Libyan authorities when they stopped his kidnappers about 150 km inside Libyan territory.

The agency said the governor would soon be handed over to the Algerian authorities at a nearby border crossing.

An Algerian security official, speaking on condition of anonymity, told Reuters: "The governor is safe and well. He was freed. That is all I can say for now."

DESERT ATTACK

The kidnapping, deep in the Sahara desert, was the most audacious attack on a senior official for years in Algeria, which has been fighting a two-decade battle against Islamist insurgents.

Khelfi, governor of the Illizi region about 1,700 km (1,000 miles) southeast of the Algerian capital, was driving away from a meeting on the Libyan border on Monday afternoon when three armed men stopped his convoy, the Interior Ministry said.

The attackers released his driver and an aide, but took the governor in the direction of the border, a ministry statement said. The ministry did not identify the kidnappers, saying only they were young Algerian men who were known to the authorities.

Two Algerian security officials, who spoke to Reuters on condition of anonymity, said the governor had been held by al Qaeda's north African branch, al Qaeda in the Islamic Maghreb (AQIM). One of the officials said the group had contacted Khelfi's family by telephone after he was captured.

A leader of one of Tripoli's most powerful militia groups rejected any suggestion that Libya was failing to secure its own territory.

"This is a security failure on the part of Algeria and we in Libya have nothing to do with it," Abdullah Naker, commander of the Tripoli Revolutionary Council which is loosely affiliated to Libya's interim government, told Reuters. "They shouldn't blame us for their security failure, our border is secured and the problem happened on the Algerian side of the border."

AQIM carries out kidnappings, ambushes and suicide bombings, mainly in Algeria but also in neighboring states which straddle the Sahara desert.

With backing from Western states, which are concerned the group could spread its activities further afield, Algerian security forces have been able to reduce the insurgency to a small rump of fighters hiding out in remote areas.

But instability in Libya could give AQIM a new lease of life by providing the insurgents with a source of weapons and a safe haven in vast desert tracts which the new Libyan authorities lack the capacity to police.

"This (kidnapping) is a very dangerous escalation which shows that the group is feeling secure and strong because of the chaos in Libya," said Samer Riad, a security expert who runs Algeria's numidianews.com news portal.

Western diplomats say Algeria is under serious threat from al Qaeda and is an important ally in helping fight the spread of the insurgency. Some security experts say the al Qaeda threat also helps Algeria garner international support.

The kidnapping was unusual because in Algeria, governors and all other senior government officials almost always travel with heavy security details, making them a "hard" target, which the insurgents tend to avoid.

One of the security officials who spoke to Reuters said the governor had on Monday been at Debdeb, a border crossing with Libya, trying to calm down local protesters angry at unemployment and poor living conditions.

Among the protesters were relatives of Abdelhamid Abu Zeid, one of AQIM's leading field commanders in the Sahara desert, the official said. Abu Zeid is believed by many security experts to have ordered the killings of two foreigners kidnapped by his group, Frenchman Michel Germaneau and Briton Edwin Dyer.

The security official said that the Illizi governor was kidnapped by local people who had been involved in the protest, and was subsequently handed over to insurgents under the command of Abu Zeid.

(Additional reporting by Mahmoud Habboush and Ali Shuaib in Tripoli)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20120117/wl_nm/us_algeria_libya_kidnap

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