Thursday, July 26, 2012

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Thursday, July 26, 2012 11:33 PM PDT
Today's Politics - Bloomberg News Headlines - Yahoo! News:
Schumer to ask U.S. to block CNOOC-Nexen deal unless China makes changes
Thu,26 Jul 2012 06:26 PM PDT
Reuters -

The Nexen building is seen in downtown CalgaryWASHINGTON (Reuters) - The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides "tangible, enforceable commitments" to ensure U.S. companies receive fair treatment when making investments in China, Democratic U.S. Senator Charles Schumer said. Schumer, the Senate's No. 3 Democrat and a frequent critic of China's trade and currency policy, said the deal gives the U.S. government a good opportunity to hold China accountable for promises it has made to improve market access for U.S. companies. ...


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NYC public advocate sues city over soaring small business fines
Thu,26 Jul 2012 06:08 PM PDT
Reuters - NEW YORK (Reuters) - New York City's public advocate, a Democratic mayoral candidate known for his liberal views, on Thursday sued the city to obtain data to determine if soaring fines are hurting small businesses. Public Advocate Bill de Blasio said he has been stonewalled since May in his attempts to investigate whether city agencies - from the Departments of Health to Sanitation - have been guilty of "overzealous enforcement," in an apparent effort to boost how much money the city rakes in each year in fines, according to a complaint in Manhattan state court. ... Full Story
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Ex-aide to Milosevic takes power in Serbia, unnerving EU
Thu,26 Jul 2012 06:04 PM PDT
Reuters -

Serbia's prime minister designate Ivica Dacic speaks to members of the parliament in BelgradeBELGRADE (Reuters) - The wartime spokesman of late strongman Slobodan Milosevic was set to take power in Serbia on Friday, telling the Balkans to forget the past and not fear the return of a political alliance that once led the country to war with NATO. In a parliament debate that dragged into the night, Ivica Dacic dismissed concerns in the West that Serbia might veer from the pro-European Union path set by reformers who ousted Milosevic 12 years ago and who now find themselves back in opposition. But the Socialist Party leader said he would not deal anymore with his country's dark past. ...


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Ninety arrested in nationwide synthetic drug crackdown
Thu,26 Jul 2012 06:03 PM PDT
Reuters - WASHINGTON (Reuters) - Federal agents arrested more than 90 people and seized about 5 million packets of synthetic drugs - known on the street as "bath salts," "K2" and "Spice" - in the first U.S. nationwide crackdown on "designer drugs," the Drug Enforcement Administration said on Thursday. The DEA said the haul from multi-agency raids in more than 100 U.S. cities included 4.8 million packets of synthetic cannabis, 167,000 packets of "bath salts" and more than $36 million in cash. ... Full Story
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Government signs on insurers to fight healthcare fraud
Thu,26 Jul 2012 05:51 PM PDT
Reuters -

U.S. President Obama speaks at Cabinet Meeting at the White House in WashingtonWASHINGTON (Reuters) - President Barack Obama's administration launched a new partnership with private insurance companies, state officials and other stakeholders to scale up efforts to tackle widespread and increasingly sophisticated healthcare fraud. Speaking from the White House at a table surrounded by leaders from many of the country's biggest health insurers, Health and Human Services Secretary Kathleen Sebelius and Attorney General Eric Holder launched the new initiative, which builds on past efforts to root out crimes that cost U.S. taxpayers billions of dollars every year. ...


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Romney's adventure abroad begins with stumbles
Thu,26 Jul 2012 05:33 PM PDT
Reuters -

U.S. Republican Presidential candidate Mitt Romney arrives for a fundraising event in LondonLONDON (Reuters) - By the end of presidential candidate Mitt Romney's first full day in London on Thursday, he had been the target of a verbal jab from the British prime minister and had been mocked by the city's mayor, who spoke before a cheering crowd. So it is safe to say that Romney's trip - carefully choreographed to boost his image on an international stage - has not gone exactly as planned. The Republican ruffled British feathers by appearing to suggest in a U.S. ...


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Arizona deputy says risked life for illegal immigrant
Thu,26 Jul 2012 05:32 PM PDT
Reuters - PHOENIX (Reuters) - A deputy from a controversial Arizona sheriff's office countered accusations of racial profiling on Thursday, telling a court that he had risked his life to rescue a Latino illegal immigrant from armed kidnappers. Carlos Rangel told a civil trial alleging Maricopa County Sheriff Joe Arpaio that, at the behest of federal immigration police, he went undercover to play the role of the immigrant's relative to meet kidnappers, one of whom pointed a gun at him. The kidnappers were arrested and the immigrant was released. ... Full Story
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Cuba broadens economic reforms, plans new measures
Thu,26 Jul 2012 05:07 PM PDT
Reuters - HAVANA (Reuters) - Cuba adopted a new tax code this week and said it would loosen regulations on some state companies while turning others into cooperatives, as one of the world's last Soviet-style economies moves in a more market-friendly direction. The plans were announced at a session of the National Assembly, which passed the country's first comprehensive tax code since the 1959 revolution on the communist-ruled island. Foreign journalists were barred from Monday's meeting, only portions of which were later broadcast by the official media. ... Full Story
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Uganda Little Leaguers World Series-bound after getting U.S. visas
Thu,26 Jul 2012 04:51 PM PDT
Reuters - WASHINGTON (Reuters) - Uganda's Little League baseball team has gotten visas to come to the United States for the Little League World Series, overcoming birth certificate discrepancies that frustrated the African country's team last year, the State Department said on Thursday. "We can confirm that the Department of State approved the Ugandan Little League team's visas. We wish them luck in the World Series," the State Department said in a statement. ... Full Story
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Drought bill may carry mammoth farm bill into law
Thu,26 Jul 2012 04:47 PM PDT
Reuters -

Drought-damagaed ears of corn and dry, brown stalks are seen in a field near Georgetown, IllinoisWASHINGTON (Reuters) - A comparatively low-priced disaster bill for livestock producers hit by the worst drought since 1956 may be the ticket to passage for a $500 billion farm bill now in limbo in Congress. Republican leaders in the House of Representatives scheduled a potential vote for next week on disaster relief. Farm and environmental lobbyists said the vote could create a path to enacting the farm bill although there was no agreement among House Republicans on the scope of the legislation. ...


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Universal Music considers bulk sale of EMI asset: FT
Thu,26 Jul 2012 04:42 PM PDT
Reuters -

A man enters EMI offices in west LondonLONDON (Reuters) - Universal Music is considering selling the bulk of EMI's most valuable subsidiary record label, as it attempts to ease concerns raised by EU regulators about a planned buyout deal, the Financial Times reported on Friday. Universal, owned by Vivendi, is considering selling the bulk of Parlophone, home to some of EMI's most high-profile musicians, but retaining its most prized assets, including Coldplay and the Beatles. ...


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House panel approves bill to upgrade Russia trade ties
Thu,26 Jul 2012 04:38 PM PDT
Reuters - WASHINGTON (Reuters) - A key congressional committee on Thursday voted overwhelmingly to lift a Cold War-era restriction on trade with Russia, but the top congressional Republican said President Barack Obama must do more to get the bill passed into law. The White House and business groups want lawmakers to approve the legislation before leaving next week for a month-long recess so U.S. companies can share in the full benefits of Russia's entry in the World Trade Organization on August 22. ... Full Story
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Militant Northern Irish groups merge to reclaim IRA banner
Thu,26 Jul 2012 04:11 PM PDT
Reuters - BELFAST (Reuters) - Three of the four main militant nationalist groups in Northern Ireland said they are merging and reclaiming the banner of the IRA in a threat to intensify a campaign of violence against the continued British presence in the province. The Real IRA has been joined by Republican Action Against Drugs - a Londonderry vigilante group - and what a statement described as "non conformist republicans" - smaller independent groups operating in Belfast and rural areas of Northern Ireland. ... Full Story
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Italy's Monti urges quick deal on election reform
Thu,26 Jul 2012 03:50 PM PDT
Reuters -

Italy's PM Monti addresses a news conference after an EU leaders summit in BrusselsROME (Reuters) - Prime Minister Mario Monti urged Italy's political parties on Thursday to agree on a new electoral law to reassure nervous financial markets of the stability of a new government after elections next year. In an interview with TGCom24 television, Monti praised the big parties from both left and right which have backed his technocrat government in parliament despite painful, unpopular belt-tightening reforms. ...


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In shift by Egypt, president meets Hamas leader
Thu,26 Jul 2012 03:44 PM PDT
Reuters -

Egypt's president Mohamed Mursi meets with Senior Hamas leader Ismail Haniya at the presidential palace in CairoCAIRO/GAZA (Reuters) - Gaza Islamist leader Ismail Haniyeh met Egyptian President Mohamed Mursi on Thursday in an official visit that signaled a big shift in Cairo's stance toward the Hamas movement after the election of a Muslim Brotherhood head of state in Egypt. A Palestinian official said the head of Egyptian intelligence had promised measures to increase the flow of fuel supplied by Qatar to Gaza via Egypt and needed to ease the small Palestinian territory's power shortages. The sides had also discussed increasing the flow of Palestinians across the border. ...


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Hungary says ready to fix budget, IMF sees slippage
Thu,26 Jul 2012 03:41 PM PDT
Reuters - BUDAPEST/WASHINGTON (Reuters) - Hungary said on Thursday it was ready to take more fiscal measures after the International Monetary Fund (IMF) called on Budapest to take extra steps to meet its 2013 budget deficit target and cut debt. Central Europe's most indebted country began talks last week with the IMF and European Union on a loan programme seen as crucial to preventing financial crisis. ... Full Story
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U.S. fears Syria preparing for massacre in Aleppo
Thu,26 Jul 2012 03:40 PM PDT
Reuters -

A building burns after shelling at Juret al-Shayah in Homs cityAMMAN/BEIRUT (Reuters) - President Bashar al-Assad's forces renewed a ground and aerial bombardment of Aleppo on Friday, extending efforts to crush rebels in Syria's commercial capital in what the United States said it feared could become a massacre. Insurgents targeted army roadblocks and security installations, with both sides avoiding close-quarters warfare in the city of 2.5 million people, Syria's biggest urban center. The U.S. ...


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Drink lobby gears up to fight soda tax plan in California city
Thu,26 Jul 2012 03:24 PM PDT
Reuters - (Reuters) - Beverage industry groups, looking to stop health-conscious Americans from taxing sugary drinks, have launched a national campaign opposing a proposal for a local tax in the city of El Monte, California. The El Monte city council on Tuesday approved a measure that would add a 1 cent tax for every ounce of "sugar sweetened" drinks. The proposal is scheduled to be voted on by city residents in November's election. ... Full Story
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Cyber commander accuses countries of targeting infrastructure
Thu,26 Jul 2012 03:07 PM PDT
Reuters - WASHINGTON (Reuters) - Unspecified nations played a role in a 17-fold jump in cyber attacks on U.S. infrastructure since 2009, but this does not appear to reflect payback for a reported U.S. role in malicious code known as Stuxnet, the head of the Pentagon's National Security Agency said on Thursday. "I don't see the correlation there at all," Army General Keith Alexander told a security forum in Aspen, Colorado. "I don't see anything that goes to Stuxnet or anything like that." Stuxnet was the first discovered malware designed to subvert industrial systems. ... Full Story
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Greek athlete tests positive for Johnson drug
Thu,26 Jul 2012 02:55 PM PDT
Reuters -

File photo of Chondrokoukis of Greece during the men's high jump final at the IAAF World Championships in DaeguLONDON (Reuters) - Greece's world indoor high jump champion Dimitris Chondrokoukis withdrew from the London Olympics on Thursday after testing positive for the drug Canadian sprinter Ben Johnson used before the 1988 Seoul Games. Johnson was sent home in disgrace after metabolites of the anabolic steroid stanozolol were found in his urine sample following his victory over Carl Lewis in the 100 meters final in world record time. Chondrokoukis' father and coach Kyriakos said the athlete would seek a retest after a positive test for stanozolol. ...


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Dutch suspend Rwanda aid, Kigali expects exoneration
Thu,26 Jul 2012 02:47 PM PDT
Reuters - KIGALI/AMSTERDAM (Reuters) - The Netherlands has suspended 5 million euros ($6.15 million) in aid to Rwanda over its reported support for rebels in Congo, a spokeswoman said on Thursday, hours after Kigali said a similar move by the United States was regrettable and would be proved wrong. The Dutch reaction to a report from United Nations experts saying Kigali was backing insurgents in the east of the Democratic Republic of Congo follows Washington's $200,000 cut in military aid at the weekend. ... Full Story
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Arizona deputy tells court he risked life for Hispanic immigrant
Thu,26 Jul 2012 02:43 PM PDT
Reuters - PHOENIX (Reuters) - A deputy from a controversial Arizona sheriff's office fought off accusations of racial profiling by telling a court on Thursday that he had gone as far as risking his life to rescue a Hispanic illegal immigrant from kidnappers. Carlos Rangel told a civil trial alleging Maricopa County Sheriff Joe Arpaio and his office engage in racially profiling Latinos that, at the behest of federal immigration police, he played the role of the immigrant's relative to meet kidnappers. They were subsequently arrested and the immigrant was released. ... Full Story
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U.S. health advisers back two new eye treatments
Thu,26 Jul 2012 02:39 PM PDT
Reuters -

Logo of Swiss pharmaceutical company Roche is pictured in RotkreuzWASHINGTON (Reuters) - A U.S. Food and Drug Administration panel on Thursday recommended two drugs for combating different forms of vision loss that can lead to blindness among a range of adults, including diabetics and the elderly. The FDA advisory committee of outside experts gave its support to Swiss-based Roche Holding AG's Lucentis eye drug for treatment of diabetic macular edema and Belgium-based ThromboGenics' treatment for viteromacular adhesion, a condition that often develops with aging. ...


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U.S. to let Myanmar import ban expire, at least temporarily
Thu,26 Jul 2012 02:37 PM PDT
Reuters - WASHINGTON (Reuters) - A U.S. ban on imports from Myanmar was set to expire, at least temporarily, at the end of September because of a clash between lawmakers over funding for an African trade provision. The two issues are tied together in a bill that has the backing of the Obama administration and that lawmakers hope to pass before their month long August recess. The White House has eased some sanctions on Myanmar, also known by its colonial name of Burma, in response to economic and political reforms. It does not favor lifting the import ban yet. ... Full Story
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Estate tax debate heats up in tax fight
Thu,26 Jul 2012 02:31 PM PDT
Reuters - WASHINGTON (Reuters) - The partisan fight in the Congress over the "death tax" - the Republicans' moniker for federal taxes levied on estates passed on by individuals to their heirs - is back. Debate is ramping up because the estate tax is part of the mass of tax cuts enacted under President George W. Bush in 2001 and 2003 that are now set to expire at the end of 2012. Senate Republicans are gleefully exploiting division among Democrats on the issue, which muddies the Democrats' election-year message of asking the wealthy to pay their "fair share. ... Full Story
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Appeals court revives challenge against "no fly" list
Thu,26 Jul 2012 02:16 PM PDT
Reuters - (Reuters) - More than a dozen Muslim Americans, including four veterans of the U.S. armed forces, will be allowed to proceed with a lawsuit over their inclusion on the U.S. government's "no fly" list, under a ruling by a federal appeals court on Thursday. The 15 plaintiffs in the case include 13 U.S. citizens and two legal permanent residents. They deny any links to terrorism and say they learned of their no-fly status when they were blocked from boarding different commercial flights. They have sued to have their names removed from the list. In its ruling, the San Francisco-based 9th U.S. ... Full Story
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Guinea Bissau coup set to halve cashew production: U.N.
Thu,26 Jul 2012 02:10 PM PDT
Reuters -

To match feature BISSAU-FOOD/CASHEWSUNITED NATIONS (Reuters) - Guinea Bissau's cashew production - the poor West African state's top revenue earner - will drop by half this year due to turmoil following April's military coup, while drug trafficking is on the rise, the United Nations said on Thursday. U.N. special envoy for Guinea Bissau Joseph Mutaboba said that according to the president of the Guinea Bissau Farmers Association the 2012 crop was forecast to drop to about 100,000 tonnes "as a result of the April 12 coup. ...


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Riot-hit East End weighs "two different worlds"
Thu,26 Jul 2012 02:07 PM PDT
Reuters - LONDON (Reuters) - "Everyone here hates the Olympics," says the graffiti spray-painted on the wall of a derelict peanut factory just outside London's glitzy new Olympic stadium. Tucked away in one of London's roughest neighborhoods, the crumbling factory is long out of use, having been taken over by a motley crew of artists, musicians and circus performers united by their disdain for the 2012 Olympic Games. "The stadium is right next door. But it doesn't aid the local community," said Kunal Modi, a 25-year-old musician living in bohemian squalor in the huge Victorian building. ... Full Story
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U.S. defense chief to visit Egypt next week, meet Mursi
Thu,26 Jul 2012 02:04 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. Defense Secretary Leon Panetta will meet Egypt's new Islamist President Mohamed Mursi next week and hold talks with the country's top general during a trip to the Middle East and North Africa, the Pentagon said on Thursday. Besides Egypt, Panetta will travel to Israel, Jordan and Tunisia next week, the Pentagon said without disclosing the dates of each visit. Panetta's trip to Egypt comes on the heels of a mid-July visit there by U.S. Secretary of State Hillary Clinton, who also met Mursi and Egypt's top general, Field Marshal Hussein Tantawi. ... Full Story
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FDA panel endorses drug for age-related eye problem
Thu,26 Jul 2012 01:52 PM PDT
Reuters - WASHINGTON (Reuters) - A Food and Drug Administration panel on Thursday recommended ThromboGenics NV's ocriplasmin as a treatment for vitreomacular adhesion, an aging-related vision problem that can lead to blindness. The FDA advisory committee of outside experts concluded that the injectable drug, marketed under the brand name Jetrea, helped enough people in clinical trials to warrant a favorable review, despite evidence of adverse effects including eye pain, swelling and blurred vision. ... Full Story
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"Enough blood": Milosevic allies take power in Serbia
Thu,26 Jul 2012 01:45 PM PDT
Reuters -

Serbia's prime minister designate Ivica Dacic speaks to members of the parliament in BelgradeBELGRADE (Reuters) - Serbia's new leader, a wartime aide of late Serbian strongman Slobodan Milosevic, told the Balkans on Thursday to forget the past and not fear the return to power of a political alliance that once led the country in war with NATO. Confining the reformers who ousted Milosevic to the opposition benches for the first time in 12 years, Ivica Dacic said he would speed up Serbia's bid to join the European Union but would not deal anymore with his country's dark past. ...


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Police coalition seeks magazine limits, gun checks
Thu,26 Jul 2012 01:35 PM PDT
Reuters - WASHINGTON (Reuters) - A police lobbying group called on Thursday for wider background checks on gun buyers and a ban on large-capacity magazines in the aftermath of the Colorado theater massacre. The National Law Enforcement Partnership to Prevent Gun Violence urged lawmakers to close a loophole that allows 40 percent of gun purchases, such as those made online or at gun shows, to occur without checks on buyers' backgrounds. Colorado movie theater shooting suspect James Holmes, 24, purchased 6,000 rounds of ammunition over the Internet before the shooting spree. ... Full Story
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Capital One to pay $12 million settlement to military members
Thu,26 Jul 2012 01:29 PM PDT
Reuters - WASHINGTON (Reuters) - Capital One Financial Corp will pay $12 million to settle cases where the bank violated credit protections guaranteed by law to members of the U.S. military, according to a settlement filed in court on Thursday. The settlement covers a wide array of conduct, including improper foreclosures and credit-card interest rates that were above the 6 percent allowed for certain service members. Capital One and U.S. authorities said in a consent order that a bank-ordered independent review identified some of the violations, which date from 2006 to 2011. ... Full Story
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Arabic speakers welcomed to London with garbled signs
Thu,26 Jul 2012 01:04 PM PDT
Reuters -

A light display is seen at the Olympic Stadium after a full dress rehearsal in LondonLONDON (Reuters) - A shopping center next to the Olympic Park has displayed incomprehensible welcome signs in a garbled attempt at Arabic in the latest cultural blunder to embarrass London at a time when the eyes of the world are fixed on the British capital. The linguistic faux-pas follows a diplomatic incident that marred the first day of competition on Wednesday, when the South Korean flag was mistakenly displayed before a soccer match between the North Korean and Colombian women's teams. ...


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Exclusive: U.S., Lockheed reach deal on Israeli F-35s
Thu,26 Jul 2012 12:57 PM PDT
Reuters -

Handout photo of A F-35 fighter jet preparing for landing with its life fan cover deployed over Patuxent River Naval Air Station, MarylandWASHINGTON (Reuters) - The Pentagon has reached an agreement with Lockheed Martin Corp on a $450 million program to enhance electronic warfare equipment on the F-35 fighter jet, and integrate Israeli-unique systems beginning in 2016, according to sources familiar with the negotiations. The deal, to be finalized in coming weeks, marks a big step forward for Israel's $2.75 billion agreement to buy 19 F-35 jets, which was signed in October 2010 and includes options for up to 75 of the radar-evading fighters. The Pentagon said the Israeli foreign arms sale could be worth up to $15. ...


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New York Fed did not condone misreporting of Libor: Geithner
Thu,26 Jul 2012 12:56 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday that the Federal Reserve Bank of New York did not encourage banks to misrepresent their borrowing costs when setting the key benchmark interest rate Libor when he was the head of the regional Fed bank in 2008. Geithner, Fed Chairman Ben Bernanke and U.K. banking authorities have come under fire for not doing enough to fix problems with Libor, a rate which is used for $550 trillion of interest rate derivatives contracts and influences rates on a wide array of consumer products such as mortgages and credit cards. ... Full Story
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Ford recalls 484,600 Escape SUVs for throttle problem
Thu,26 Jul 2012 12:52 PM PDT
Reuters -

A Ford logo is seen on the car maker's booth during the first media day of the Geneva Auto Show at the Palexpo in Geneva(Reuters) - Ford Motor Co is recalling 484,600 older model Ford Escape SUVs, most of them in the United States, because their throttles can be stuck open, U.S. safety regulators said. Ford Escapes from the 2001-2004 model years with three-liter, V6 engines are affected by the recall. A week ago, Ford recalled about 11,500 new 2013 model year Escape SUVs with 1.6-liter EcoBoost engines due to a fire risk related to fuel lines. Ford asked consumers to keep the Escapes parked rather than drive them to dealerships for repair. ...


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House Republicans seen seeking six-month spending extension
Thu,26 Jul 2012 12:45 PM PDT
Reuters - WASHINGTON (Reuters) - Republican leaders in the House of Representatives are moving toward seeking a six-month extension of government funding that would avoid the threat of shutdowns until the spring of 2013, Republican lawmakers and aides said on Thursday. Lawmakers have little stomach for an election-year repeat of last year's bruising budget battles, which brought the federal government to the brink of shutdown several times and further damaged Congress' approval ratings. ... Full Story
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U.S. concerned Syria planning massacre in Aleppo
Thu,26 Jul 2012 12:44 PM PDT
Reuters - WASHINGTON (Reuters) - The United States said on Thursday it appeared that forces loyal to Syrian President Bashar al-Assad were "lining up" for a massacre in the city of Aleppo, but again ruled out military intervention in the conflict. The U.S. State Department said that credible reports of tank columns moving on Aleppo along with air strikes by helicopters and fixed-wing aircraft represented a serious escalation of the government's efforts to crush an armed rebellion. ... Full Story
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IMF says assessing Greek debt, welcomes ECB pledge
Thu,26 Jul 2012 12:40 PM PDT
Reuters - WASHINGTON (Reuters) - The International Monetary Fund said on Thursday program talks with Greek authorities are likely to continue into September and confirmed that part of its work in Athens will include assessing whether Greece's debt levels are sustainable. IMF spokesman David Hawley said it was too soon to discuss details of the talks currently underway in Athens between the authorities and international lenders, including the IMF, European Central Bank and European Commission. "It is premature to talk about outcomes," Hawley told a news briefing. ... Full Story
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