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Source: http://video.msnbc.msn.com/cnbc/46106383/
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Monday, 23 January 2012
Wednesday, 18 January 2012
Nigeria fuel strike ends with soldiers in streets
Protesters run away from tear gas fired by police officers during a demonstration against spiraling fuel prices in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
Protesters run away from tear gas fired by police officers during a demonstration against spiraling fuel prices in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
Protesters run away from tear gas fired by police officers during a demonstration against spiraling fuel prices in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
Angry youths protest and shout slogan in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
An Army officer stand guard in front of protesters on a major road in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
Angry people protest on a major road in Lagos, Nigeria, Monday, Jan. 16, 2012. For the first time since protests erupted over spiraling fuel prices, soldiers barricaded key roads Monday in Nigeria's two biggest cities as the president offered a concession to stem demonstrations that he said were being stoked by provocateurs seeking anarchy. (AP Photo/Sunday Alamba)
LAGOS, Nigeria (AP) ? Labor unions ended a crippling nationwide strike Monday in Nigeria after the country's president partially restored subsidies that keep gasoline prices low, though it took soldiers deployed in the streets to stop demonstrations in Africa's most populous nation.
Union leaders claimed a victory for labor, saying this would allow its leaders to guide the country's policy on fuel subsidies in the future. But the newly agreed price of about $2.27 a gallon (60 cents a liter) is still more expensive than the previous price of $1.70 per gallon (45 cents per liter), putting additional economic strain on those living in a nation where most earn less than $2 a day and few see the rewards of being a major oil exporter.
And to force the compromise and stop popular protests, President Goodluck Jonathan ordered soldiers to take over security in the country's major cities, something unseen since the nation abandoned military rule for an uneasy democracy in 1999. The move raises new questions about freedom of speech in a nation where government power still appears absolute.
"This is a clear case of intolerance and shutting of the democratic space against the people of Nigeria which must be condemned by all democracy-loving people around the world," read a statement from the Save Nigeria Group, which has organized massive demonstrations in Lagos.
The six-day strike began after fuel prices more than doubled to at least $3.50 per gallon (94 cents per liter) following a Jan. 1 decision by Jonathan's administration to end the government-sponsored subsidies. Low gasoline prices, something Nigeria has been accustomed to since 1973, remain one of the only benefits the average Nigerian sees from the nation producing 2.4 million barrels of crude oil a day. Gasoline also powers the small generators that provide shops and homes electricity in a nation with a failed national power grid.
Many protesters also joined the growing demonstrations to speak out against a culture of government corruption in a nation where lawmakers earn pay packages of $1 million a year and states have budgets larger than neighboring countries. Under the hash-tagged slogan of "Occupy Nigeria," many used social media to criticize the nation's poor roads and failing hospitals amid the excesses of the country's elite.
The government tried to persuade the nation to its side, promising the estimated $8 billion saved a year by ending the subsidies would go toward needed public work projects. That failed to win popular support as tens of thousands joined in protests across the country.
In the last two days, government authorities began warning that provocateurs wanted to exploit the rallies to cause unrest in a nation with a long history of coups.
"It has become clear to government and all well-meaning Nigerians that other interests beyond the implementation of the deregulation policy have hijacked the protest. ... These same interests seek to promote discord, anarchy and insecurity to the detriment of public peace," President Jonathan said in a speech aired Monday morning on the state-run Nigerian Television Authority.
Jonathan gave no further explanation to his remarks. Opposition politicians did sometimes lead demonstrations, but they were not connected to the violence that killed at least 10 people and wounded more than 600 others during strikes.
The Nigeria Labor Congress and the Trade Union Congress told journalists on Monday they chose to abandon the strike "in order to save lives and in the interest of national survival." They previously met with Jonathan late Sunday night, who made the same claims about security concerns.
"We are sure that no government or institution will take Nigerians for granted again," said Abdulwaheed Omar, the president of the Nigeria Labor Congress.
That did not appear the case as soldiers and armored personnel carriers moved in overnight to occupy a park in Lagos where tens of thousands had gathered to protest. Soldiers also took over major highways and road junctions throughout Lagos, home to 15 million people, and in Kano, Nigeria's second-largest city.
Labor organizers had urged workers to stay home on Monday after Jonathan's appeal Sunday night. At the Lagos headquarters of the Nigeria Labor Congress, some 50 protesters gathered anyway. Lawyer Bamidele Aturu led the crowd in chants and cheers, comparing the president to military rulers of the past who used soldiers to suppress dissent.
"It's very clear the revolution has begun!" Aturu shouted. However, those gathered looked warily at passing pickup trucks filled with soldiers.
The protesters began to march, passing soldiers who slung their assault rifles over their shoulders, allowing them to walk on. But as they drew closer to the surrounded Lagos park, around 20 soldiers arrived in two pickup trucks to cut them off, with bayonets affixed to their assault rifles. They told the protesters to go back and some of them began to turn around.
Soldiers fired into the air and tear gassed the crowd to disperse it, leaving protesters running through a stinging white cloud as gunshots echoed down the highway.
Meanwhile, authorities also targeted some foreign media outlets in Lagos. Officers of the State Security Service, Nigeria's secret police, raided an office compound Monday used by the BBC and CNN, witnesses said. Marilyn Ogar, a secret police spokeswoman, said she had no information about the raid.
Though an oil workers association threatened to cut Nigeria's crude oil production, they held off. Such a shutdown could have shaken oil futures, as Nigeria is the fifth-largest crude supplier to the U.S.
Meanwhile, an offshore rig being run for a Chevron Corp. subsidiary near Nigeria's oil-rich southern delta caught fire and officials tried to account for all the workers there, the oil company said. Chevron spokesman Scott Walker said the fire started early Monday morning. Government officials blamed the fire on an industrial accident.
___
Associated Press writers Bashir Adigun and Lekan Oyekanmi in Abuja, Nigeria; Ibrahim Garba in Kano, Nigeria; and Yinka Ibukun in Lagos contributed to this report.
___
Jon Gambrell can be reached at www.twitter.com/jongambrellAP.
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Android Central weekly photo contest: Sunset or sunrise
We're kicking off a new weekly photo contest today! The rules are simple -- We'll give a theme, you use your Android phone (or tablet, or netbook, you get the idea) to take a picture that fits the theme. Send it to us via email at pics@androidcentral.com and we'll pick the best shot. These contests will run from Monday to Friday, we'll pick the winners over the weekend and announce them Monday on the blog. We'll have prizes for the winners, and it will be a heck of a lot of fun for everyone. Remember, only send in pictures you've taken yourself and they must be free for us to use on the Internet. Don't worry, we won't use them for anything except the contests.
To kick it all off, we're going to start with a theme that's a favorite of mine -- sunset or sunrise. Show us the beauty around you, and we'll reward the best with a headset of your choosing from ShopAndroid. We're looking forward to seeing what you guys can show us!
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Source: http://feedproxy.google.com/~r/androidcentral/~3/zDt3fbbUxEU/story01.htm
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Tuesday, 17 January 2012
PFT: NFL will consider full-time officials
Getty ImagesThough the script isn?t quite identical, what with the Giants launching their postseason run at home against a team they should have beaten, the 2007 Road Warriors storyline is in full bloom, thanks to a 37-20 trouncing of the Packers in Green Bay.
And it could have been worse, especially with referee Bill Leavy?s crew failing to give the Giants possession of a ball that clearly had been fumbled by Packers receiver Greg Jennings and later extending the home team?s final scoring drive by calling the Giants for a blow to the head of quarterback Aaron Rodgers ? when Rodgers actually fell into the chest of a defender.
The Giants outgained the Packers, 420 to 388, thanks in large part to 330 passing yards and three touchdowns from quarterback Eli Manning.? Green Bay, which had 13 turnovers all season, had four on Sunday, including two from Rodgers.
Peyton?s kid brother has climbed onto the upper echelon of quarterbacks with his play in the clutch, consistently converting third downs and generally making big plays.
For the Packers, the big plays were too few and far between.? And so the Giants, by winning the first playoff game in Wisconsin since the 2007 NFC title game, have a two-game postseason winning streak at Lambeau Field.
The Giants? win broke a 7-0 start to the postseason for the home teams.? It marks the second NFC upset of the weekend, with 36 and 37 points being the winning sum and neither the Saints nor the Packers ringing up those numbers.
Next up for the Giants, who lost to the Packers during the regular season by three, is a return to San Francisco, where the Giants fell by seven.? And if the Giants can turn the tables on the Niners, and if the Patriots can beat the Ravens, the rematch of Super Bowl XLII would also be a rematch of New York?s stirring November win, 24-20, at New England.
Of course, the Harbaugh brothers may have something to say about a Giants-Pats rematch.? Jim and John likely have dreams (or maybe nightmares) of a brother vs. brother return bout on the biggest stage in sports.
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Rare tomb of woman found in Egypt Valley of Kings (AP)
CAIRO ? In a rare find, Egyptian and Swiss archaeologists have unearthed a roughly 1,100 year-old tomb of a female singer in the Valley of the Kings, an antiquities official said Sunday.
It is the only tomb of a woman not related to the ancient Egyptian royal families ever found in the Valley of the Kings, said Mansour Boraiq, the top government official for the Antiquities' Ministry in the city of Luxor,
The Valley of the Kings in Luxor is a major tourist attraction. In 1922, archaeologists there unearthed the gold funerary mask of Tutankhamun and other stunning items in the tomb of the king who ruled more than 3,000 years ago.
Boraiq told The Associated Press that the coffin of the female singer is remarkably intact.
He said that when the coffin is opened this week, archaeologists will likely find a mummy and a cartonnage mask molded to her face and made from layers of linen and plaster.
The singer's name, Nehmes Bastet, means she was believed to be protected by the feline deity Bastet.
The tomb was found by accident, according to Elena Pauline-Grothe, field director for excavation at the Valley of the Kings with Switzerland's University of Basel.
"We were not looking for new tombs. It was close to another tomb that was discovered 100 years ago," Pauline-Grothe said.
Pauline-Grothe said the tomb was not originally built for the female singer, but was reused for her 400 years after the original one, based on artifacts found inside. Archaeologists do not know whom the tomb was originally intended for.
The coffin of the singer belonged to the daughter of a high priest during the 22nd Dynasty.
Archaeologists concluded from artifacts that she sang in Karnak Temple, one of the most famous and largest open-air sites from the Pharaonic era, according to evidence at the site.
At the time of her death, Egypt was ruled by Libyan kings, but the high priests who ruled Thebes, which is now within the city of Luxor, were independent. Their authority enabled them to use the royal cemetery for family members, according to Boraiq.
The unearthing marks the 64th tomb to be discovered in the Valley of the Kings.
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Monday, 16 January 2012
UK: No public funding for new royal yacht (AP)
LONDON ? Britain's prime minister says Queen Elizabeth II will not be getting public funding for a new royal yacht to mark her Diamond Jubilee.
David Cameron's spokesman said Monday it would not be "appropriate" to use taxpayer funds for that purpose.
But Cameron's office has not ruled out the possibility of helping Buckingham Palace to secure private sector funding, if royal officials decide that the queen needs a new vessel.
The issue was raised by Education Secretary Michael Gove. He said in a letter leaked to the press that a new yacht would be an ideal gift to mark the queen's 60th year on the throne.
It is estimated that a new yacht would cost at least 60 million pounds ($92 million).
The Royal Yacht Britannia was decommissioned in 1997.
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S&P cuts credit ratings for France, Italy, Spain (AP)
PARIS ? Standard & Poor's swept the debt-ridden European continent with punishing credit downgrades Friday, stripping France of its coveted AAA status and dropping Italy even lower. Germany retained its top-notch rating, but Portugal's debt was consigned to junk.
In all, S&P, which took away the United States' AAA rating last summer, lowered the ratings of nine countries, complicating Europe's efforts to find a way out of a debt crisis that still threatens to cause worldwide economic harm.
Austria also lost its AAA status, Italy and Spain fell by two notches, and S&P also cut ratings on Malta, Cyprus, Slovakia and Slovenia.
The downgrades on more half of the countries that use the euro could drive up yields on European government debt as investors demand more compensation for holding bonds deemed to be riskier. Higher borrowing costs would put more financial pressure on countries already contending with heavy debt burdens.
"In our view, the policy initiatives taken by European policymakers in recent weeks may be insufficient to fully address ongoing systemic stresses in the eurozone," S&P said in a statement.
Stocks fell Friday as downgrade rumors reached the trading floors of Europe and the United States. But the declines were nothing like the wrenching swings of last summer and fall, when the debt crisis threw the markets into turmoil.
The Dow Jones industrial average in New York was down 0.5 percent. Stocks fell 0.6 percent in Germany, 0.5 percent in Britain and 0.1 in France, but each of those markets closed before French Finance Minister Francois Baroin gave first word of the country's downgrade on French television.
Earlier Friday, the euro hit its lowest level in more than a year and borrowing costs for European nations rose.
Some analysts downplayed the impact of the downgrades.
"It's going to create bad headlines for a day or two," said Jacob Funk Kirkegaard, research fellow at the Peterson Institute for International Economics. But "there's no underlying new information ... This will be quickly forgotten."
Still, the cut in the French credit rating may lead bond traders to raise borrowing costs for the financial rescue fund, said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott, a financial firm.
"There's a legitimate reason to be concerned," he said. "A weaker France means a weaker bailout fund."
France's downgrade to AA+ lowers it to the level of U.S. long-term debt, which S&P downgraded last summer. S&P had warned 15 European nations in December that they were at risk for a downgrade.
France is the second-largest contributor behind Germany to Europe's financial rescue fund. The fund still has a rating of AAA. That means that it can borrow on the bond market at low rates.
Borrowing costs for the French government rose before the announcement. The yield on France's 10-year government bond rose to 3.1 percent from 3 percent earlier. That is still less than the 3.36 percent rate on the same bond last week and far below the 6.6 percent that Italy has to pay to borrow money from bond investors for 10 years.
Germany, the strongest economy in Europe, pays a yield of just 1.76 percent. The United States 10-year Treasury note paid 1.85 percent Friday, down 0.08 percentage points ? a sign that investors were seeking safety in U.S. debt.
Speaking on France-2 Television, Baroin said the downgrade of France's AAA sovereign debt rating was not "a catastrophe." He underscored that France still had a solid rating.
"The United States, the world's largest economy, was downgraded over the summer," Baroin said. "You have to be relative, you have keep your cool. It's necessary not to frighten the French people about it."
Fears of a downgrade brought a sour end to a mildly encouraging week for Europe's heavily indebted nations and were a stark reminder that the 17-country eurozone's debt crisis is far from over.
Earlier Friday, Italy had capped a strong week for government debt auctions, seeing its borrowing costs drop for a second day in a row as it successfully raised as much as euro4.75 billion ($6.05 billion).
Spain and Italy completed successful bond auctions on Thursday, and European Central Bank president Mario Draghi noted "tentative signs of stabilization" in the region's economy.
The downgrades could drive up the cost of European government debt as investors demand more compensation for holding bonds deemed to be riskier than they had been. Higher borrowing costs would put more financial pressure on countries already contending with heavy debt burdens.
In Greece, negotiations Friday to get investors to take a voluntary cut on their Greek bond holdings appeared close to collapse, raising the specter of a potentially disastrous default by the country that kicked off Europe's financial troubles more than two years ago.
The deal, known as the Private Sector Involvement, aims to reduce Greece's debt by euro100 billion by swapping private creditors' bonds with new ones with a lower value, and is a key part of a euro130 billion international bailout. Without it, the country could suffer a catastrophic default that would send shock waves through the global economy.
Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos met on Thursday and Friday with representatives of the Institute of International Finance, a global body representing the private bondholders. Finance ministry officials from the eurozone also met in Brussels Thursday night.
At Friday's Italian auction, investors demanded an interest rate of 4.83 percent to lend Italy three-year money, down from an average rate of 5.62 percent in the previous auction and far lower than the 7.89 percent in November, when the country's financial crisis was most acute.
While Italy paid a slightly higher rate for bonds maturing in 2018, which were also sold in Friday's auction, demand was between 1.2 percent and 2.2 percent higher than what was on offer.
The results were not as strong as those of bond auctions the previous day, when Italy raised euro12 billion and demand was strong for a sale of Spanish debt.
"Overall, it underscores that while all the auctions in the eurozone have been battle victories, the war is a long way from being resolved (either way)," said Marc Ostwald, strategist at Monument Securities. "These euro area auctions will continue to present themselves as market risk events for a very protracted period."
Italy's euro1.9 trillion in government debt and heavy borrowing needs this year have made it a focal point of the European debt crisis.
Italy has passed austerity measures and is on a structural reform course that Premier Mario Monti claims should bring down Italy's high bond yields, which he says are no longer warranted.
Analysts have said the successful recent bond auctions were at least in part the work of the ECB, which has inundated banks with cheap loans, giving them ready cash that at least some appear to be using to buy higher-yielding short-term government bonds.
Some 523 banks took euro489 billion in credit for up to three years at a current interest cost of 1 percent.
___
Contributing to this report were Associated Press writer Nicole Winfield in Rome, Associated Press writer Gabriele Steinhauser in Brussels and AP Business writers David McHugh in Frankfurt, Paul Wiseman in Washington and Matthew Craft in New York.
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