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Friday, December 16, 2011
New member Palestine raises flag at UNESCO (AP)
PARIS ? Palestinians have raise their flag at the headquarters of the U.N. cultural agency in Paris, a symbolic boost in their push for an independent state.
Cheers rose alongside the red, black, white and green flag Tuesday during a ceremony held in the rain. Palestinian President Mahmoud Abbas was among those present.
Palestine was admitted as a UNESCO member after an October vote that prompted the U.S. to cut off funds to the agency.
The Palestinians also are seeking full-fledged U.N. membership, but Washington has threatened to veto that move, saying a negotiated settlement with Israel should come first.
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Wednesday, December 7, 2011
Video: Florio, Harrison: Can Bears overcome Forte injury?
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Source: http://nbcsports.msnbc.com/id/21134540/vp/45547980#45547980
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Tuesday, December 6, 2011
Wall Street gains on hopes for EU debt solution (Reuters)
NEW YORK (Reuters) ? Stocks jumped at the start of what could be the most important week of the year for Wall Street as hopes grew that European leaders will find a solution to the region's debt crisis at a summit on Friday.
The bloc's crisis has been the biggest overhang for U.S. investors this year. Hope that European policymakers were entering an endgame sent the S&P 500 to its best week in almost three years last week with a rise of 7.4 percent.
Many are betting even a temporary fix in Europe will allow investors to focus on improvement in the U.S. economy and send equities higher into the end of the year. But investors have been let down by European crisis summits before.
Paul Zemsky, head of asset allocation at ING in New York, said he is positioned for a favorable outcome but warns failure to reach an agreement that would allow Europe's central bank to step up purchases of government debt could cripple Europe's bond markets and send stocks into a tailspin.
"Investors will lose complete confidence in the bond markets of France on out," he said. "There's no feasible Plan B, there's no ceiling on these yields if there isn't policy action -- it's gone too far."
The financial sector, which has been hit hard this year due to concern about its exposure to Europe and global growth, was the best performing. The S&P financial index (.GSPF) rose 2.8 percent. Morgan Stanley (MS.N) jumped 6.6 percent to $16.55 and hit its highest level in a month earlier in the session.
The S&P 500 inched above its 200-day moving average but failed to hold it in a sign the market is now meeting considerable resistance in the way of further gains.
The Dow Jones industrial average (.DJI) gained 149.78 points, or 1.25 percent, to 12,169.20. The Standard & Poor's 500 Index (.SPX) rose 20.86 points, or 1.68 percent, to 1,265.14. The Nasdaq Composite Index (.IXIC) added 43.73 points, or 1.66 percent, to 2,670.66.
French President Nicolas Sarkozy and German Chancellor Angela Merkel met in Paris, and Sarkozy said a proposed agreement between the two countries will be sent to EU officials on Wednesday ahead of Friday's summit.
The proposal to be taken up at the EU summit will mean a modified EU treaty, which will need to be approved by all 27 European Union leaders. In addition, a budget-balancing rule across the euro zone will be included.
Investors are hoping the agreement will pave the way for the European Central Bank to buy large amounts of government bonds, an outcome the Germans have been keen to avoid without an end to what they see as profligate government spending.
Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co. in San Francisco said stocks could rally into the end of the year if a convincing deal is reached in Europe, but he cautioned against too much optimism too soon. Markets have rallied into a hoped-for euro zone deal before, only to be let down.
"We are far from an easy consensus that it's a done deal," he said. "But we are further along in the negotiations than we've been and we are focused on the right things now."
Indexes posted their largest weekly percentage advance last week since mid-March 2009. Those gains also came on a U.S. unemployment rate that dropped to a 2-1/2 year low.
Adding to the belief that Europe would be taking adequate steps to address its issues, Italy unveiled a $40.32 billion package of austerity measures, which eased tensions surrounding the country's finances. European stocks (.FTEU3) rose 1 percent while yields on 10-year Italian government bonds fell to the lowest in a month.
The pace of growth in the vast U.S. services sector slowed more than expected in November, according to the Institute for Supply Management, dropping to the lowest level since January 2010.
MetLife Inc (MET.N) rose 5.2 percent to $33.41 after the largest U.S. insurer forecast 2012 earnings growth of as much as 7 percent, though its fourth-quarter outlook was below expectations.
Germany's SAP (SAPG.DE) announced a $3.4 billion cash deal to buy SuccessFactors (SFSF.N), sending shares of the Web-based software company up 51 percent to $39.71.
Commercial Metals Co (CMC.N) rejected investor Carl Icahn's buyout bid, saying the offer substantially undervalued the company. The stock rose 0.3 percent to $14.03.
(Editing by Kenneth Barry.)
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Peru anti-mine roadblocks lifted, government calls talks (Reuters)
LIMA (Reuters) ? Peruvian protesters opposed to a $4.8 billion gold mine project abandoned roadblocks on Saturday as government officials called weekend talks with regional leaders to try to resolve the conflict.
Earlier this week, U.S.-based Newmont Mining Corp agreed to a government request to stop work temporarily on the Conga mine after the protests turned violent.
The demonstrations in the northern region of Cajamarca, which included roadblocks designed to pressure the government to cancel the largest mining investment in Peru's history, started 10 days ago.
Local political leaders want President Ollanta Humala to stop the gold mine from being built, saying it would replace a string of alpine lakes with artificial reservoirs and cause pollution.
Protesters also have criticized Humala for moving too far to the right and for supporting the project, which would generate thousands of jobs and enormous tax revenues.
"The main access routes have been cleared after police went in and opened up the roads," regional government spokesman Segundo Mata said.
"There's access for vehicles, the situation has got back to normal and vehicles carrying fuel, food and tourists are passing," he said. The blockades around the city of Cajamarca had started to cause shortages of basic goods.
Protest leader Wilfredo Saavedra said mine opponents had agreed to dismantle the blockades. "Today, activity is normal in Cajamarca."
The unrest has challenged Humala, who campaigned on promises to steer more social spending to rural towns to help defuse social conflicts over natural resources while assuring companies they could move ahead with billions of dollars in mining and oil projects in Peru.
The administration of Humala, who has been trying for weeks to mediate in the conflict over water at the proposed mine, called regional officials and community leaders in for more talks on Sunday.
"We call on the people of Cajamarca not to let themselves be dragged into violent actions led by groups that don't want the population to prosper in peace and democracy," a government statement said.
Saavedra said protesters had not been invited to Sunday's proposed meeting with regional leaders.
The Conga project, which Newmont owns with Peruvian precious metals miner Buenaventura, would produce 580,000 to 680,000 ounces of gold a year and open in 2014.
It has gold deposits worth about $15 billion at current prices and sits 13,800 feet high in the Andes, about 600 miles north of Lima.
(Reporting by Teresa Cespedes; Writing by Helen Popper; Editing by Peter Cooney)
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Monday, December 5, 2011
George McGovern hospitalized after fall in SD
SIOUX FALLS, S.D. (AP) ? Former Democratic presidential candidate George McGovern was being treated at a hospital in South Dakota after falling and hitting his head on the pavement outside a library bearing his name.
McGovern's daughter Ann McGovern said her father was to be treated at a Sioux Falls hospital after being flown by helicopter from Mitchell, S.D., where a live C-SPAN interview was to take place at the Dakota Wesleyan University's McGovern Library on Friday.
"He had just walked from home to the center. He lives literally just across the street," Ann McGovern told The Associated Press.
McGovern has lived in St. Augustine, Fla., since 2008 but also has a home in Mitchell.
Friends and faculty who had gathered at the library for the C-SPAN taping said McGovern fell at about 5:15 p.m. ? less than two hours before the program began. A former South Dakota senator, McGovern, 89, was "bleeding profusely" but was conscious and talking as he was taken from the university by ambulance, said Donald Simmons, dean of the College of Public Service.
Ann McGovern was with her father before he was taken to Avera McKennan Hospital in Sioux Falls, but she wasn't sure how serious the injury was. Hospital officials said no new information was available late Friday night.
University President Robert Duffett said McGovern had been excited to take part in the live C-SPAN program called "The Contenders," which focuses on failed presidential candidates who changed the landscape of American politics." McGovern lost his 1972 challenge against President Richard Nixon, who eventually resigned amid the Watergate scandal.
Duffett said he had coffee with McGovern just hours before the fall and that McGovern was returning to the campus to grab dinner with faculty before the interview.
McGovern was entering a side door when he "tripped and fell and hit his head hard," said Duffett, audibly frazzled. "It's just one of those things. He's made that walk many times before."
McGovern has an office inside the library named for both him and his late wife, Eleanor.
Ann McGovern said the injury was unrelated to her father's hospitalization in late October for exhaustion. She was with her father was he was being readied to be taken to Avera McKennan Hospital, but she wasn't sure how serious the injury was.
C-SPAN went ahead and aired the segment on McGovern, with program host Amity Shlaes interviewing political experts and journalists to analyze McGovern's ill-fated campaign. Shlaes said on air that McGovern had taken "a spill" and wasn't able to be on the program as planned, but she said he was fine.
McGovern was elected to his first of three terms in the Senate in 1962. Though he later lost the presidential race to Nixon, he continued to distinguish himself during his political career and was a lifelong advocate for U.S. and world food programs.
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Mayans never predicted world to end in 2012: experts (Reuters)
PALENQUE, Mexico (Reuters) ? If you are worried the world will end next year based on the Mayan calendar, relax: the end of time is still far off.
So say Mayan experts who want to dispel any belief that the ancient Mayans predicted a world apocalypse next year.
The Mayan calendar marks the end of a 5,126 year old cycle around December 12, 2012 which should bring the return of Bolon Yokte, a Mayan god associated with war and creation.
Author Jose Arguelles called the date "the ending of time as we know it" in a 1987 book that spawned an army of Mayan theorists, whose speculations on a cataclysmic end abound online. But specialists meeting at this ancient Mayan city in southern Mexico say it merely marks the termination of one period of creation and the beginning of another.
"We have to be clear about this. There is no prophecy for 2012," said Erik Velasquez, an etchings specialist at the National Autonomous University of Mexico (UNAM). "It's a marketing fallacy."
The National Institute of Anthropological History in Mexico has been trying to quell the barrage of forecasters predicting the apocalypse. "The West's messianic thinking has distorted the world view of ancient civilizations like the Mayans," the institute said in a statement.
In the Mayan calendar, the long calendar count begins in 3,114 BC and is divided into roughly 394-year periods called Baktuns. Mayans held the number 13 sacred and the 13th Baktun ends next year.
Sven Gronemeyer, a researcher of Mayan codes from La Trobe University in Australia, who has been trying to decode the calendar, said the so-called end day reflects a transition from one era to the next in which Bolon Yokte returns.
"Because Bolon Yokte was already present at the day of creation ... it just seemed natural for the Mayan that Bolon Yokte will again be present," he said.
Of the approximately 15,000 registered glyphic texts found in different parts of what was then the Mayan empire, only two mention 2012, the Institute said.
"The Maya did not think about humanity, global warming or predict the poles would fuse together," said Alfonso Ladena, a professor from the Complutense University of Madrid. "We project our worries on them."
(Reporting by Pepe Cortes; editing by Anthony Boadle)
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