Tokyo's Nikkei 225 hits 21-month high

Label:





TOKYO: Tokyo's benchmark Nikkei 225 index on Thursday closed at its highest level since the quake-tsunami disaster in March last year, a day after Japan's new conservative government took power.

The Nikkei added 0.91 percent, or 92.62 points, to 10,322.98 by the close, finishing above 10,254.43, its level on March 11, 2011 when a massive temblor hit Japan, sparking a tsunami and subsequent nuclear crisis.

The broader Topix index of all first-section shares was up 0.75 percent, or 6.38 points, at 854.09.

"Some say the market is now overbought, but the trend is your friend, and few are willing to risk going short at the moment," said an equity trading director at a foreign brokerage.

"Japan is now right in the middle of the radar for foreign portfolio managers."

In forex trade, the US dollar rose to its highest level in more than two years against the yen as Shinzo Abe was sworn in as prime minister.

Abe -- whose Liberal Democratic Party won a landslide election victory this month -- has repeatedly said he would pressure the Bank of Japan for more easing measures, comments that have helped bring down the value of the yen.

- AFP/al



Read More..

PM Manmohan Singh for gradual hike in energy prices, cut in subsidy

Label:
NEW DELHI: Describing the current economic situation as a difficult one, Prime Minister Manmohan Singh on Thursday hinted at tough decisions like hike in energy prices and reduction of subsidies to achieve the growth target of 8 per cent in the 12th Five Year Plan.

Inaugurating the National Development Council (NDC) meeting, Singh cautioned that "business as usual" policies will not be sufficient to achieve the scaled down growth target of 8 per cent, which he said was "ambitious".

The NDC, which comprises Cabinet ministers and state chief ministers, is meeting here to approve the 12th Plan (2012-17) document.

The Planning Commission for the second time proposed reduction in the average annual growth target for the 12th Plan. It was first scaled down from 9 per cent to 8.2 per cent and now to 8 per cent.

Noting that energy prices in India are "too low", Singh said, "some phased price adjustment is necessary".

The central government and the states, he said, "must work together to create awareness in the public that we must limit the extent of energy subsidies".

The Prime Minister further said that the 12th Plan has made a case for containing subsidy as failure to control them would mean that "other plan expenditures have to be cut or the fiscal deficit target exceeded".

Read More..

Space Pictures This Week: Green Lantern, Supersonic Star

Label:








































































































');

























































































































 $'+ doc.ngstore_price_t +'';
html += ' $'+ doc.ngstore_saleprice_t +'';
} else {
html += ' $'+ doc.ngstore_price_t +'';
}
html += '
';

$("#ecom_43331 ul.ecommerce_all_img").append(html);




o.totItems++;

}// end for loop
} // end if data.response.numFound != 0

if(o.totItems != o.maxItems){
if(o.defaultItems.length > 0){
o.getItemByID(o.defaultItems.shift());
} else if(o.isSearchPage && !o.searchComplete){
o.doSearchPage();
} else if(!o.searchComplete) {
o.byID = false;
o.doSearch();
}
}// end if
}// end parseResults function

o.trim = function(str) {
return str.replace(/^\s\s*/, '').replace(/\s\s*$/, '');
}

o.doSearchPage = function(){
o.byID = false;

var tempSearch = window.location.search;
var searchTerms ="default";
var temp;

if( tempSearch.substr(0,7) == "?search"){
temp = tempSearch.substr(7).split("&");
searchTerms = temp[0];
} else {
temp = tempSearch.split("&");
for(var j=0;j 0){
o.getItemByID(o.defaultItems.shift());
} else if(o.isSearchPage){
o.doSearchPage();
} else {
o.doSearch();
}

}// end init function

}// end ecommerce object

var store_43331 = new ecommerce_43331();





store_43331.init();









































































































































































Read More..

Okla. Senator Could Prevent Gun Control Changes

Label:











If there's one person most likely to keep new gun-control measures from passing Congress swiftly, it's Sen. Tom Coburn.


Conservatives revere the Oklahoma Republican for his fiscal hawkishness and regular reports on government waste. But he's also a staunch gun-rights advocate, and he's shown a willingness to obstruct even popular legislation, something in the Senate that a single member can easily accomplish.


That mixture could make Coburn the biggest threat to quick passage of new gun-control laws in the aftermath of the Newtown, Conn., shooting that has prompted even pro-gun NRA-member lawmakers like Sen. Joe Manchin, D-W.Va., to endorse a new look at how access to the most powerful weapons can be limited.


Coburn's office did not respond to multiple requests to discuss the current push for gun legislation. But given his record, it's hard to imagine Coburn agreeing to a major, new proposal without some fuss.


The last time Congress considered a major gun law -- one with broad support -- Coburn held it up, proving that the details of gun control are sticky when a conservative senator raises unpopular objections, especially a senator who's joked that it's too bad he can't carry a gun on the Senate floor.


After the Virginia Tech massacre in 2007, Congress heard similar pleadings for new gun limits, some of them similarly to those being heard now. When it came to light that Seung-Hui Cho, the mentally disturbed 23-year-old who opened fire on campus, passed a background check despite mental-health records indicating he was a suicide threat, a push began to include such records in determining whether a person should be able to buy a gun.




Rep. Carolyn McCarthy, D-N.Y., a longtime gun-control advocate whose husband was killed in a mass shooting on the Long Island Rail Road in 1996, introduced a widely supported bill to do just that. The NRA backed her National Instant Check System Improvement Amendments Act of 2007.


But Coburn didn't. The senator blocked action on the bill, citing concerns over patient privacy, limited gun access for veterans, and the cost of updating the background-check system,


In blocking that bill, Coburn pointed to a government study noting that 140,000 veterans had been referred to the background-check registry since 1998 without their knowledge.


"I am certainly understanding of the fact that some veterans could be debilitated to the point that such cataloguing is necessary, but we should ensure this process does not entangle the vast majority of our combat veterans who simply seek to readjust to normal life at the conclusion of their tours. I am troubled by the prospect of veterans refusing necessary treatment and the benefits they are entitled to. As I'm sure you would agree we cannot allow any stigma to be associated with mental healthcare or treatment of Traumatic Brain Injury," Coburn wrote to acting Veterans Secretary Gordon Mansfield.


Coburn succeeded in changing the legislation, negotiating a set of tweaks that shaved $100 million over five years, made it easier for prohibited gun owners to restore their gun rights by petitioning the government, and notifying veterans that if they abdicated control of their finances they would be added to the gun database. The bill passed and President Bush signed it in January 2008.






Read More..

Democrats push for tax cuts they once opposed

Label:

Democrats seeking a deal to avert the year-end “fiscal cliff” are trying to etch into stone the signature economic achievement of Republican President George W. Bush by permanently extending tax cuts enacted during his tenure.


President Obama has put the extension of the tax cuts for most Americans at the top of his domestic agenda, a remarkable turnaround for Democrats, who had staunchly opposed the tax breaks when they were written into law about a decade ago.




With Obama leaving his Hawaii vacation for Washington on Wednesday and lawmakers returning Thursday, the main dividing line between Republicans and Democrats has come down to whether tax rates should increase for top earners at the end of the year, when the Bush-era tax cuts are set to expire. While Republicans want to extend all the cuts, Democrats are pushing to maintain lower rates on household income below $250,000. Those lower rates significantly reduce the taxes of nearly all American households that earn less than $250,000 — and many who earn more, even if tax rates are allowed to increase on income above that figure.

While it is increasingly unlikely that the two parties will reach an agreement to avoid the fiscal cliff before Jan. 1, it is all but certain that their ultimate deal, whenever it comes, will make permanent the lower rates for most Americans.

R. Glenn Hubbard, dean of the Columbia Business School and an architect of the Bush tax cuts, said it is “deeply ironic” for Democrats to favor extending most of them, given what he called their “visceral” opposition a decade ago. Keeping the lower rates even for income under $250,000 “would enshrine the vast bulk of the Bush tax cuts,” he said.

Democrats say they have reconsidered their opposition to the Bush tax cuts for several reasons. The cuts were written into law from 2001 to 2003 after a decade in which most Americans saw robust income growth. Over the past decade, by contrast, median wages have declined, after adjusting for inflation, amid a weak economy. Allowing tax cuts for the middle class to expire would further reduce take-home pay.

“We’ve had these tax cuts in place since 2001. The world changes, and the economy is where it is,” said Steven Elmendorf, who was chief of staff to former House minority leader Richard A. Gephardt (D-Mo.), a primary opponent of the Bush tax cuts. “With people’s economic status, we should not be raising taxes on people earning under $250,000.”

What’s more, income inequality has been growing. Sparing the middle class higher taxes while requiring the wealthy to pay more would tip the scales slightly in the other direction.

“The reason there’s been this movement toward broad consensus on renewing the tax cut for working- and middle-class families is that will give us a sharper progressivity in the tax system that is very much desired by Democrats and progressives who’ve seen an income distribution more and more distorted toward the wealthy,” said Betsey Stevenson, former chief economist in Obama’s Labor Department and a professor at the University of Michigan, who added that taxes may have to rise even more than currently contemplated to meet the country’s needs.

Read More..

All 27 killed in Kazakh military plane crash

Label:





ALMATY, Kazakhstan: All 27 people on board a Kazakh military jet that crashed while carrying the Central Asian state's top border guard officials have died, the state security service said Wednesday.

"All 27 occupants of the aircraft, including seven crew members, have perished," the National Security Service (KNB) said in a statement.

The victims included the acting head of the Kazakh federal border service Turganbek Stambekov and his wife, the statement said.

The 22-year-old plane crashed late Tuesday about 20 kilometres (12 miles) from Shymkent airport where it had been due to land after a flight from the capital Astana.

Kazakhstan's KTK television said the jet fell from a height of 800 metres (2,600 feet). Witnesses also reported hearing a loud explosion at the time of the crash.

Footage of the crash site aired on Kazakh state television on Wednesday showed only fragments of the An-72 military transport plane remaining on the ground.

But the KNB security service stressed that the plane had recently undergone all the necessary checks and repairs.

"In 2012, it underwent restoration work at the Antonov repair plant in Ukraine," its statement said.

Khabar state television also cited local residents as saying that a heavy winter storm had descended on the region at the time of the accident.

It said the plane caught fire after the crash.

Kazakh official sealed off the site of the disaster on Wednesday as they launched an investigation into one of the most serious air accidents in the country's post-Soviet history.

The KNB statement said the senior security team, which also included the heads of the regional border guard services, had been flying to an end-of-year security meeting in Shymkent.

The border guard service of Kazakhstan -- a vast resource-rich nation nestled between China and Russia -- experienced a number of setbacks during the past year.

Its acting head Stambekov was appointed to his post in June after his predecessor was fired following a May incident in which 14 border guards were shot dead in a remote outpost in the south of the country.

The sole border guard to survive the shooting confessed during a subsequent trial that he killed his colleagues, but retracted his confession after being handed a life sentence, saying unidentified people in civilian clothes were responsible.

Aviation disasters remain a scourge across the former Soviet Union due to ageing hardware that often has not been replaced since the fall of the Soviet regime, as well as human error.

In November, eight people were killed in Kazakhstan when a Russian-made Mi-8 helicopter crashed while on a pipeline surveillance mission.

- AFP/ck



Read More..

Delhi gang rape: Traffic restrictions eased as protests calm down

Label:
NEW DELHI: Delhi Police eased traffic restrictions at India Gate and Raisina Hill on Wednesday but did not lift prohibitory orders even as protests over the gang-rape of a girl calmed down.

Traffic was smooth at India Gate and Raisina Hill, which witnessed violent weekend protests. Nine Metro stations, which were closed since Sunday morning, have already been opened for public from Tuesday evening.

Meanwhile, the crime branch of Delhi Police will investigate the death of constable Subhash Tomar during Sunday's anti-rape protests at India Gate.

Questions have been raised over the cause of the constable's death. Doctors at Ram Manohar Lohia Hospital said the constable had no major external injury marks when he was brought to the hospital and that he had suffered a heart attack.

A journalism student Yogendra, who claimed to be a witness, said constable Subhash Tomar fell down on his own, contradicting police version that he was beaten up by protesters leading to his death.

"I was at India Gate with a female friend who was injured. I saw one policeman who was running after protesters and then suddenly collapsing. We rushed towards him and some policemen were also there. Suddenly, the policemen started running after other protesters.

"So I rushed to a nearby PCR van. They took him to hospital. I also went in the same vehicle. I saw him in hospital and his body didn't have any injuries. He wasn't trampled by a mob, he wasn't assaulted. The claims of police are false. I am surprised to hear that 8 were arrested over Subhash Tomar's death," he claimed.

Delhi Police declined to be drawn into the controversy with its spokesperson Rajan Bhagat saying "no comments till the post mortem report is out".

On Tuesday, police commissioner Neeraj Kumar had said that Tomar had suffered internal injuries in his neck, chest and stomach and were waiting for the post mortem report to ascertain the exact cause of his death. Tomar died on Tuesday morning.

Arvind Kejriwal-led Aam Aadmi Party demanded sacking of Delhi police commissioner alleging that the police were misleading people by arresting eight "innocent youth" in connection with the incident.

Reacting to Yogendra's claims, Kejriwal said his account was opposite of what police said. "Is police lying?" he asked.

Read More..

Photos: Humboldt Squid Have a Bad Day at the Beach

Label:

Photograph by Chris Elmenhurst, Surf the Spot Photography

“Strandings have been taking place with increased frequency along the west coast over the past ten years,” noted NOAA’s Field, “as this population of squid seems to be expanding its range—likely a consequence of climate change—and can be very abundant at times.” (Learn about other jumbo squid strandings.)

Humboldt squid are typically found in warmer waters farther south in theGulf of California (map) and off the coast ofPeru. “[But] we find them up north here during warmer water time periods,” said ocean sciences researcherKenneth Bruland with the University of California, Santa Cruz (UCSC).

Coastal upwelling—when winds blowing south drive ocean circulation to bring cold, nutrient-rich waters up from the deep—ceases during the fall and winter and warmer water is found closer to shore. Bruland noted that climate change, and the resulting areas of low oxygen, “could be a major factor” in drawing jumbo squid north.

Published December 24, 2012

Read More..

Winter Storms Spawn Tornadoes Across South

Label:












A nasty Christmastime storm system spawned blizzard conditions in some states and at least 15 reported tornadoes in the South, damaging homes, taking out power lines and dangerously snarling holiday travel.


Severe weather swept across the United States during the Christmas holiday, bringing tornadoes and intense thunderstorms to the Gulf Coast, while dumping heavy snow and freezing rain on the Southern Plains.


At least 15 tornadoes were reported today from Texas to Alabama, putting this storm system potentially on track to be one of the largest Christmas day tornado outbreaks on record.


One large tornado was reported in Mobile, Ala., where there are about 19,000 customers without power and 23,429 statewide, according to Alabama Power. Kerry Burns, a Mobile resident originally from Boston, said the storm "sounded like a freight train."


Some buildings in the area, including some churches and a local high school, were reportedly damaged. Ray Uballe, another Mobile resident, said his dad was shaken up.


"He was in his apartment," Uballe said. "He said it sounded like an airplane and then the door flung open and then there was just debris flying."


Douglas Mark Nix, president of the Infirmary Health System, said one of their Mobile hospitals lost power and sustained damage. There were no early reports of injuries to staff or patients.


"We are operating now on generator power," he said. "We do not have substantial damage but we do have a number of windows out and we have some ceiling tiles down, throughout the facility at the main hospital.


"We can run for at least two weeks but I saw power crews out all over the city so I fully expect power to be restored within the next day or so," Nix added.






Melinda Martinez/The Daily Town Talk/AP Photo















Winter Weather Causes Holiday Travel Problems Watch Video





At least eight states were issued blizzard warnings today, as the storms made highways dangerously slick heading into one of the busiest travel days of the year.


Oklahoma got about 7 inches of snow all over the state making for treacherous road conditions. ABC News affiliate KOCO-TV in Oklahoma City said the weather was being blamed for a 21-vehicle wreck on Interstate 40, but no one was seriously injured.


Ice accumulation in Arkansas bent trees and power lines, leaving at least 50,000 customers across the state without power. About 10 inches of snow fell on Fayetteville, Ark.


The storms, which first wreaked havoc on the West Coast before moving east, are being blamed for at least one death in Texas.


Investigators in the Houston area told ABC state KTRK-TV in Houston that a young man was trying to move a downed tree that was blocking the roadway when another one snapped and fell on top of him. He was later pronounced dead at a hopsital.


The last time a number of tornadoes hit the Gulf Coast area around Christmas Day was in 2009, when 22 tornadoes struck on Christmas Eve morning, National Weather Service spokesman Chris Vaccaro told ABC News over email.


The deadliest Christmastime tornado outbreak on record was Dec. 24 to 26, 1982, when 29 tornadoes in Oklahoma, Missouri, Arkansas, Tennessee and Mississippi killed three people and injured 32.


The last killer tornado around Christmas, Vaccaro said, was a Christmas Eve EF4 in Tennessee in 1988, which killed one person and injured seven. EF4 tornadoes can produce winds up to 200 mph.


No official word yet on the strength of the string of tornadoes reported today.


While some were preparing for a Christmas feast, others were hunkered down.


More than 180 flights nationwide were canceled by midday, according to the flight tracker FlightAware.com. More than half were canceled by American Airlines and its regional affiliate, American Eagle.


The storm system is expected to continue east into Georgia and the Carolinas Wednesday and could potentially spawn more tornadoes, according to the National Weather Service.


ABC News' Matt Gutman, Max Golembo and ABC News Radio contributed to this report.



Read More..

Federal workers feel unease over potential layoffs, furloughs unleashed by ‘fiscal cliff’

Label:

Federal employees have been skeptical for months that the biggest cuts to government spending in history could really happen. But with the “fiscal cliff” a week away, workers are now growing increasingly alarmed that their jobs and their missions could be on the line.


President Obama and members of Congress headed out of town late last week for a Christmas break without reaching a deal to avoid $110 billion in automatic across-the-board spending cuts, which would hamstring operations ranging from weather forecasting and air traffic control to the purchase of spare parts for weapons systems. So civil servants are bracing for the blow, wondering whether their work will be upended — and whether they may be forced to take unpaid days off.


“This could change day by day,” said Antonio Webb, 25, who works in the mail service that handles correspondence for the Department of Homeland Security. “You could come into work and the next day they say, ‘We don’t need you because we have to cut so much.’ ”

Many federal workers have become jaded after a two-year pay freeze and congressional fights over spending that keep agencies lurching from one stopgap budget to another. Until recently, few employees thought it could come to this: Budget cuts of 8 to 10 percent divided equally between military and domestic agencies. Only a few programs, like Social Security, veterans benefits and some services for the poor, are exempted.

“Sure, we continue to do our jobs,” said Carl Eichenwald, who works in enforcement at the Environmental Protection Agency. “But all of this uncertainty is disruptive for our mission. A lot of time gets spent spinning wheels. We won’t know whether we can do inspections. Do we have 100 percent of our budget, or 85 percent?”

Top congressional aides said Monday that discussions of how to avert the fiscal cliff had come to a virtual standstill. Obama and House Speaker John A. Boehner (R-Ohio) had not spoken since Friday.

Each side in the negotiations urged the other to come up with a way around the impasse. A senior Democratic aide said Boehner needs to return from the holiday with a “cleared head and a readiness to deal.” The aide said that there is no time for Democrats to unilaterally advance a bill in the Senate, adding that they can press forward with legislation only if they are assured by Republican leaders of GOP support.

A senior Senate Republican aide insisted, however, that it is now up to Senate Majority Leader Harry M. Reid (Nev.) and his fellow Democrats to figure out what they can pass in the Senate without worrying about the Republican-controlled House.

As the year-end deadline approaches, federal employees have been told very little by their bosses about how their agencies are preparing to carry out huge spending reductions.

“It seemed like we were almost immune to thinking that something real was going to come of it,” said Fernando Cutz, an analyst for the U.S. Agency for International Development.

Then came an e-mailed memo on Thursday from agency heads to employees. The cuts would be “significant and harmful to our collective mission.” Furloughs “or other personnel actions” — layoffs — remain a real possibility.

Read More..

Subscribe to: Posts (Atom)