Shares, oil steady before U.S. data, Fed meeting

LONDON (Reuters) - European shares consolidated near two-year highs on Tuesday and oil prices steadied as investors awaited data on the strength of U.S. economy and a Federal Reserve policy decision later in the week.


Most markets for riskier assets have risen solidly this year - despite only modest global growth - due to robust corporate earnings reports, signs of an end to the euro zone crisis and renewed momentum in the U.S. and Chinese economies.


But particularly in the equity markets, where many major indexes are close to multi-year highs, investors are looking for reassurance that a lasting economic recovery is underway.


"With markets posting significant gains for the year already, traders are becoming more demanding in their need for positive cues to keep up the buying momentum," said Jonathan Sudaria, a dealer at Capital Spreads in a trading note.


The FTSE Eurofirst 300 index <.fteu3> of top European shares was up 0.2 percent in early trade after hitting a 23-month high on Monday. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were flat to 0.1 percent higher.


U.S. stock futures gained 0.1 percent, pointing to a firm Wall Street start. <.l><.eu><.n/>


Earlier the MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rallied 0.9 percent to end a four-day losing streak, led by a 1.1 percent jump in Australian shares <.axjo> to a fresh 21-month high.


The major event in investors' sights is the two-day Federal Reserve policy meeting. They are awaiting the Fed's decision and statement on Wednesday for any signs that the recent run of positive economic data would encourage policymakers to consider changing its easing policy.


The first estimate of U.S. fourth-quarter gross domestic product also will be released on Wednesday, followed by non-farm payrolls on Friday.


In Europe investors are looking to Spanish GDP data and Italian and German debt auctions on Wednesday, the first big day of European earnings on Thursday and the month-end.


Official data on China's growth outlook due Friday will also be important, especially for commodities markets.


Brent crude and U.S. oil were edging higher on Tuesday but, in line with equities, gains were limited with Brent crude up 16 cents to $113.64 a barrel and U.S. crude rising 44 cents to $96.88.


The euro was at $1.3450, not far from an 11-month high of $1.3480 hit on Friday when it had gained a boost from news of early repayments by euro zone banks of three-year loans to the European Central Bank, which suggested that parts of the banking system may be on the mend.


The euro, however, faces a series of major resistance levels near $1.35, including its 2012 high of $1.34869.


German government bond prices edged higher on Tuesday, as some investors were attracted by a dip that had followed Friday's announcement that banks would repay 137 billion euros of the ECB money.


Bund futures were 8 ticks higher on the day at 141.87. They hit a two-month low of 141.61 on Monday, having fallen by almost two full points in the past three sessions.


(Reporting by Richard Hubbard. Editing by)



Read More..

Woods makes short work at Torrey Pines


SAN DIEGO (AP) — Tiger Woods never looked so irritated winning a golf tournament so comfortably.


His record eighth victory at Torrey Pines was all but over when Woods ripped a 5-iron from 244 yards over the corner of a bunker and onto the green at the par-5 13th hole, setting up a two-putt birdie that gave him an eight shot lead in the Farmers Insurance Open.


At least he had plenty of time to savor this victory. The final five holes felt like they took forever.


Woods twirled his club on the tee and leaned on it in the fairway as the final round dragged on. He lost rhythm and appeared to lose interest, and it showed. A bogey from the bunker on the 14th. A tee shot that caromed off a eucalyptus tree on the 15th hole that led to double bogey. A tee shot he popped up on the 17th hole that left him 50 yards behind the other players and led to another bogey.


"It got a little ugly at the end," Woods said. "I started losing patience a little bit with the slow play."


No matter. It only affected the margin, not the outcome. Woods had to settle for an even-par 72 that gave him a four-shot win over defending champion Brandt Snedeker and Josh Teater, who each had a 69.


For a tour that has been criticized for slow play, this wasn't an ideal start to the network portion of its schedule. With Woods virtually a lock to win, CBS Sports wanted the final round to resume Monday later than normal so that it could be televised in late afternoon on the East Coast. Play was so slow that CBS went over its allotted time.


Woods, meanwhile, had the ideal start to his tour season.


Only a week earlier, he missed the cut in Abu Dhabi, in part because of a two-shot penalty assessed after his second round for taking an illegal drop. Woods had never missed the cut on the European Tour, and he had never started his season with the weekend off.


He might have been the only one who didn't panic.


Woods seized control with a 65 on the North Course at Torrey Pines, the spent the rest of the week pulling away from the field until no one could catch him.


"I don't know if anybody would have beaten him this week," said Nick Watney, who got within five shots of Woods when the tournament was still undecided until making three bogeys on his next five holes. "He's definitely on his game."


It's still too early to figure out the state of his game, especially in relation to Rory McIlroy, who also missed the cut in Abu Dhabi.


Torrey Pines is a public course that Woods treats like his private domain. He won the tournament for the seventh time, one short of the PGA Tour record for most wins in a single event. Sam Snead won the Greater Greensboro Open eight times. Woods won for the eighth time at Torrey Pines, including the 2008 U.S. Open, and that's a PGA Tour record that Woods previously shared with ... himself. He also has won seven times at Firestone and Bay Hill.


"I think he wanted to send a message," said Hunter Mahan, who shares a swing coach with Woods. "I think deep down he did. You play some games to try to motivate yourself. There's been so much talk about Rory. Rory is now with Nike. That would be my guess."


And it was his 75th win on the PGA Tour, seven short of the record held by Snead. Woods has won 23 of those tournaments by at least four shots.


"I'm excited the way I played all week," Woods said. "I hit the ball well — pretty much did everything well and built myself a nice little cushion. I had some mistakes at the end, but all my good play before that allowed me to afford those mistakes."


Woods mostly had reason to be excited about his short game.


In the third round Sunday, he was furious with himself for going long on the par-3 eighth green, without much green between his ball and the hole. Woods hit a chip solidly, with just enough loft, to leave himself a tap-in par. In the conclusion of the final round Monday, he pulled his tee shot into a bad spot in the bunker on the par-3 11th. The lie was good, but he had to aim well left, meaning his legs were spread wide on the slope of the sand.


He blasted it out with his 60-degree wedge to a top shelf, and then watched it feed down a slope to the right. It lost pace at the end or it might have gone in.


It looked good for television. It was a difficult shot, but not impossible.


But Woods believes those are the shots he wasn't converting a year ago. And that's one reason his outlook was so bright on the rest of the year, even after having to cope with so much fog along the Pacific bluffs.


He played the par 5s in 12 under for the lead — that alone would have been enough to win — and attributed that to his short game.


"My short game was back to how I know it can be," Woods said. "My shots that I hit, especially out of these nasty little lies, I hit some really good ones this week. And that allowed me to save some pars, make some birdies, and move my way up the board. And basically, that's what I did."


Woods figures his swing change under Sean Foley took root at some point last year, but that he had devoted so much time to the swing that he neglected his wedges. Now that he is practicing more on his short game, he expects better results — turning a 74 into a 70, and not losing leads at the majors, like he did twice last year.


Still, the season is young.


Any measure of Woods likely will have to wait until the road to the Masters gets going during the Florida Swing. Woods headed home to Florida on Monday night and is not expected to return until the Match Play Championship in Arizona a month from now. McIlroy also isn't expected to play until then, and match play being such a fickle format, the better gauge could come in the Honda Classic and at Doral.


Woods, however, likes where he is headed.


Torrey Pines is a good omen for the rest of his year. Whenever he starts a PGA Tour season with a win at Torrey, he tends to have big years — eight wins and two majors in 2006, seven wins and a major in 2007, four wins in only six starts in 2008.


Where will this lead?


"Does it feel good? Yes. Does it give me confidence? Absolutely," Woods said. "But as far as the other stuff, as I said, I'm excited about this year. I'm excited about what I'm doing with Sean and some of the things that I've built. This is a nice way to start the year."


Read More..

Former Ecuador judge on Chevron case says plaintiffs bribed court






NEW YORK/SAN FRANCISCO (Reuters) – A former Ecuadorean judge has claimed that after stepping down from the bench, he illegally ghostwrote a judgment in which Chevron was ordered to pay $ 18.2 billion (11.5 billion pounds) for polluting the rain forest, and that the plaintiffs paid a $ 500,000 bribe to the judge who issued the ruling.


Alberto Guerra, who presided over the case from 2003 to 2004, made the allegations in a sworn statement filed by Chevron on Monday in support of a lawsuit in Manhattan federal district court accusing the Ecuadorean plaintiffs and their lawyers of fraud.






“Another participant in the fraud has now come forward rather than wait to be exposed by others,” Hewitt Pate, Chevron vice president and general counsel, said in a statement.


Karen Hinton, a spokeswoman for the plaintiffs, in a statement called Guerra a “disgraced former Ecuadorean judge who is being paid hundreds of thousands of dollars by Chevron to make false allegations about the Ecuador trial court judgment.”


Guerra was not available to comment.


The filing is the latest in an ever-escalating two-decade battle between Chevron and residents of Ecuador‘s Lago Agrio over oil extraction in the region.


Residents claimed that Texaco, which Chevron acquired in 2001, polluted the rainforest and water supplies with hundreds of unlined waste pits from 1964 to 1992, damaging crops and public health including deaths from cancer.


Chevron claimed that its share of the waste pits had been cleaned up and that its activities were not responsible for environmental and public health damage.


An Ecuadorean court entered the $ 18.2 billion judgment in 2011. The award was upped to $ 19 billion in July.


The National Court of Justice, Ecuador’s highest court, last month appointed three judges to hear Chevron’s final appeal in that country of the court decision.


One of them, Oscar Bermudez, told Reuters that they are not allowed to consider new evidence.


“Our job is to make sure the sentence issued by the previous court complies with legal and constitutional precepts … they can provide new evidence but the court cannot take it into account,” he said, adding that Chevron may consider presenting Guerra’s statement to Ecuador’s attorney general for his consideration.


Chevron, with no assets in Ecuador now, has fought a global campaign against the enforcement of the $ 19 billion award. In February 2011, it filed the New York federal lawsuit against the plaintiffs and their lawyers, including Steven Donziger and Pablo Fajardo, contending the judgment was obtained via fraud.


The declaration Monday by Guerra was filed by Chevron in support of that lawsuit.


According to the document, the Chevron case had been assigned to Judge Nicolas Zambrano in 2009. Guerra said Zambrano at times ask him to ghostwrite civil rulings for him for $ 1,000 a month, which he says was illegal.


The case was then given to another judge, Juan Nunez, who later had to recuse himself due to allegations of bribery brought by Chevron after Nunez was caught on tape discussing the case. Zambrano then took charge again.


In his sworn declaration, Guerra wrote: “Zambrano told me he was in direct contact with Mr. Fajardo and that the Plaintiffs’ representatives had agreed to pay him USD $ 500,000 from whatever money they were to collect from the judgment, in exchange for allowing them to write the judgment in the Plaintiffs’ favor.”


Guerra in his declaration said he received $ 38,000 from the company for the costs of providing the evidence. Kent Robertson, a spokesman for Chevron, confirmed Chevron has agreed to pay Guerra’s family $ 10,000 for monthly living expenses and $ 2,000 for housing.


“He’s a scoundrel,” Fajardo told Reuters on Monday. “I’ve never met Mr. Guerra, but I know who he is and how he’s being paid by Chevron.”


In a statement from the Ecuador plaintiffs last week, Fajardo said Guerra had at one point offered to provide testimony to the rainforest communities if they would pay him, though they had refused.


Zambrano could also not be contacted on Monday. He has been out of the public eye since his dismissal last February for releasing a drug trafficker in an act described by the judicial watchdog as “obvious negligence.”


The New York case is Chevron Corporation v. Donziger, et al., U.S. District Court, Southern District of New York, 11-00691.


(Reporting by Nate Raymond in New York, Braden Reddall in San Francisco, and Eduardo Garcia Gil and Alexandra Valencia in Quito; Editing by Lisa Shumaker)


Energy News Headlines – Yahoo! News





Title Post: Former Ecuador judge on Chevron case says plaintiffs bribed court
Url Post: http://www.news.fluser.com/former-ecuador-judge-on-chevron-case-says-plaintiffs-bribed-court/
Link To Post : Former Ecuador judge on Chevron case says plaintiffs bribed court
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Why haven't we learned from fires?






STORY HIGHLIGHTS


  • Pyrotechnics, overcrowding, poor exits have contributed to tragic fires in recent years

  • You would think the world would have learned from past incidents, John Barylick says

  • Concertgoers have to be their own fire marshals, he says




Editor's note: John Barylick, author of "Killer Show," a book on the 2003 Station nightclub fire in Rhode Island, is an attorney who represented victims in wrongful death and personal injury cases arising from the fire.


(CNN) -- Sunday morning we awoke to breaking news of another tragic nightclub fire, this time in Brazil. At last report the death toll exceeded 230.


This tragedy is not without precedent. Next month will mark the 10th anniversary of a similar nightclub fire in Rhode Island. At this sad time, it's appropriate to reflect on what we've learned from club fires -- and what we haven't.


Rhode Island's Station nightclub fire of 2003, in which 100 concertgoers lost their lives, began when fireworks set off by Great White, an 80s heavy metal band, ignited flammable packing foam on the club's walls.


Deadly blazes: Nightclub tragedies in recent history



John Barylick

John Barylick





Panicked patrons stampeded toward the club's main exit, and a fatal pileup ensued. Contributing to the tragedy were illegal use of pyrotechnics, overcrowding and a wall covering that would have failed even the most rudimentary flammability tests.


Video images of the Station fire were broadcast worldwide: A concert begins; the crowd's mood changes from merry, to curious, to concerned, to horrified -- in less than a minute. You'd think the world would have learned from it. You would be wrong.



The following year, the Republica Cromanon nightclub in Argentina went up in flames, killing 194 people. The club was made to hold about 1,000 people, but it was estimated that more than 3,000 fans were packed inside the night of the fire, which began when fans began lighting flares that caught the roof on fire.


Echoes of the past: Rhode Island victims 'can't help but watch'


Then, in January 2009, at least 64 New Year's revelers lost their lives in a nightclub in Bangkok, Thailand, after fire ignited its ceiling. Many were crushed in a rush to get out of the club. In December of that same year, a fire in a Russian nightclub, ignited by pyrotechnics, killed 156 people. Overcrowding, poor exits, and indoor fireworks all played roles in these tragedies; yet no one bothered to learn from mistakes of the past.


While responsibility for concert disasters unquestionably lies with venue operators, performers and promoters, ultimately, we, as patrons of clubs and concerts, can enhance our own safety by taking a few simple steps. The National Fire Protection Association urges concertgoers to:


• Be observant. Is the concert venue rundown or well-maintained? Does the staff look well-trained?


• As you proceed to your seat, observe how long the process takes. Could you reverse it in a hurry? Do you pass through pinch points? Is furniture in the way?


• Once seated, take note of the nearest exit. (In an emergency, most people try to exit by the door they entered, which is usually not the closest, and is always overcrowded.) Then, share the location of that nearest exit with your entire party. Agree that at the first sign of trouble, you will all proceed to it without delay.


• Once the show begins, remain vigilant. If you think there's a problem, LEAVE IMMEDIATELY. Do not stay to "get your money's worth" despite concerns about safety. Do not remain to locate that jacket or bag you placed somewhere. No concert is worth your life. Better to read about an incident the next day than be counted as one of its statistics.


Read more: How to protect yourself in a crowd


To be sure, all fire codes must be vigorously enforced, and club and concert hall operators must be held to the highest standards. A first step is banning indoor pyrotechnics in all but the largest, stadium-type venues.


But, ultimately, we are our own best "fire marshals" when it comes to avoiding, and escaping, dangerous situations. We can still enjoy shows. But it is up to us to look out for our own safety.


In coming days, Rhode Islanders will follow the unfolding news from Brazil with a sense of queasy deja vu -- the rising body counts, the victim identification process, the grieving families, and the assigning (and dodging) of blame. If only they had learned from our tragedy.


The opinions expressed in this commentary are solely those of John Barylick.







Read More..

Butler's 19 points lead Bulls over Bobcats









To Jimmy Butler, it's simple.


Whether he's averaging 45.2 minutes in the five games he started for Luol Deng or playing 31 minutes, 14 seconds in reserve of Deng and others, as he did during Monday's 93-85 victory over the Bobcats, his role remains the same.


"Rebound, guard and make some open shots," Butler said. "Starting gave me a lot more confidence. But I'm still able to do those things (off the bench)."








Indeed, Butler stole the show, backing up his promise with a career-high 19 points and six rebounds, playing at shooting guard alongside Deng for a long second-quarter stretch and most of the final 5:28.


"Jimmy's a big part of the team," coach Tom Thibodeau said. "Lu has been huge for us. We know we have flexibility. You do what's best for the team."


Deng returned after missing five games with an injured right hamstring and finished with 12 points in just over 31 minutes as the Bulls avenged their New Year's Eve home loss to the Bobcats.


"I felt great," Deng said. "I hadn't gone full speed like that, so I was a little worried about the change of speed and direction. So I'm happy I was able not to have any setbacks. It felt a little tight, but it didn't feel like how it felt when I first did it."


Thibodeau admitted he didn't want to overextend Deng's minutes in his first game while casually plugging him for defensive player of the year.


"There may not be a better defender in the league," Thibodeau said.


At least against the speedy, perimeter-driven Bobcats, minutes dropped for Marco Belinelli and Richard Hamilton. Thibodeau even used the combination of Kirk Hinrich and Nate Robinson for a brief third-quarter stretch.


"They went real small," Thibodeau said. "I liked (Butler's) quickness out there defensively."


The Bulls pulled away late in the third after the Bobcats tied it at 55-55 with 3:36 remaining. Joakim Noah, huge again with a double-double, seven assists and five blocks in nearly 45 minutes, scored on a three-point play. Robinson, who contributed 15 points off the bench, fueled a 13-0 run with two 3-pointers as the Bobcats failed to score for 4:24.


With 13 points and 18 rebounds, Noah became the first Bull to grab 15 or more rebounds in four straight games since Dennis Rodman in March 1998.


Robinson poured it on in the fourth, scoring eight points as the Bulls pushed their lead to 14. But old friend Ben Gordon found his range in the final period as well, scoring 10 of his 18 points as the Bobcats trimmed the lead to six late.


That's when Carlos Boozer powered home a left-handed dunk over Bismack Biyombo off a feed from Robinson with 1:24 left to jazz the sellout crowd of 21,308.


"As long as we play the type of basketball we know we're capable of, we can beat any team," Butler said. "We can also lose to any team if we don't."


kcjohnson@tribune.com


Twitter @kcjhoop





Read More..

French seal off Mali's Timbuktu, rebels torch library


GAO, Mali (Reuters) - French and Malian troops retook control of Timbuktu, a UNESCO World Heritage site, on Monday after Islamist rebel occupiers fled the ancient Sahara trading town and torched several buildings, including a library holding priceless manuscripts.


The United States and the European Union are backing a French-led intervention in Mali against al Qaeda-allied militants they fear could use the West African state's desert north as a springboard for international attacks.


The recovery of Timbuktu followed the swift capture by French and Malian forces at the weekend of Gao, another major town in Mali's north that had been occupied by the alliance of jihadist groups since last year.


The two-week-old mission by France in its former Sahel colony, at the request of Mali's government, has driven the Islamist rebels northwards out of towns into the desert and mountains.


Without a shot being fired, 1,000 French soldiers and paratroopers and 200 Malian troops seized Timbuktu airport and surrounded the town on the banks of the Niger River, looking to block the escape of insurgents.


In both Timbuktu and Gao, cheering crowds turned out to welcome the French and Malian troops.


A third town in Mali's vast desert north, Kidal, had remained in Islamist militant hands. But Malian Tuareg MNLA rebels, who are seeking autonomy for their northern region, said on Monday they had taken charge in Kidal after Islamist fighters abandoned it.


A diplomat in Bamako confirmed the MNLA takeover of Kidal.


A French military spokesman said the assault forces at Timbuktu were avoiding any fighting inside the city to protect the cultural treasures, mosques and religious shrines in what is considered a seat of Islamic learning.


But Timbuktu Mayor Ousmane Halle told Reuters departing Islamist gunmen had four days earlier set fire to the town's new Ahmed Baba Institute, which contained thousands of manuscripts.


UNESCO spokesman Roni Amelan said the Paris-based U.N. cultural agency was "horrified" by the news of the fire, but was awaiting a full assessment of the damage.


Ali Baba, a worker at the Ahmed Baba Institute, told Sky News in Timbuktu more than 3,000 manuscripts had been destroyed. "They are bandits. They have burned some manuscripts and also stole a lot of manuscripts which they took with them," he said.


Marie Rodet, an African history lecturer at Britain's School of Oriental and African Studies, said Timbuktu held one of the greatest libraries of Islamic manuscripts in the world.


"It's pure retaliation. They (the Islamist militant rebels) knew they were losing the battle and they hit where it really hurts," Rodet told Reuters. "These people are not interested in any intellectual debate. They are anti-intellectual."


ISLAMISTS "ALL FLED"


The Ahmed Baba Institute, one of several libraries and collections in Timbuktu containing fragile documents dating back to the 13th century, is named after a Timbuktu-born contemporary of William Shakespeare and houses more than 20,000 scholarly manuscripts. Some were stored in underground vaults.


The French and Malians have encountered no resistance so far in Timbuktu. But they will now have to comb through a labyrinth of ancient mosques, monuments, mud-brick homes and narrow alleyways to flush out any hiding fighters.


The Islamist forces comprise a loose alliance that groups Al Qaeda in the Islamic Maghreb (AQIM) with Malian Islamist group Ansar Dine and AQIM splinter MUJWA.


They have retreated in the face of relentless French air strikes and superior firepower and are believed to be sheltering in the rugged Adrar des Ifoghas mountain range, north of Kidal.


The MNLA Tuareg rebels who say they now hold Kidal have offered to help the French-led offensive against the al Qaeda-affiliated Islamists. It was not clear, however, whether the French and Malians would steer their offensive further towards Kidal, or hold negotiations with the MNLA.


FRANCE: MALI "BEING LIBERATED"


The world was shocked by Timbuktu's capture in April by Tuareg fighters, whose separatist rebellion was later hijacked by Islamist radicals who imposed severe sharia (Islamic law).


Provoking international outrage, the Muslim militants - who follow a more radical Salafist brand of Islam - destroyed dozens of ancient shrines in Timbuktu sacred to Sufi Muslims, condemning them as idolatrous and un-Islamic.


They also imposed a strict form of Islamic law, or sharia, authorizing the stoning of adulterers and amputations for thieves, while forcing women to go veiled.


On Sunday, many women among the thousands of Gao residents who came out to celebrate the rebels' expulsion made a point of going unveiled. Other residents smoked cigarettes and played music to flout the bans previously imposed by the rebels.


Hundreds of troops from Niger and Chad have been brought to Gao to help secure the town.


"Little by little, Mali is being liberated," French Foreign Minister Laurent Fabius told France 2 television.


Speaking at a news conference in Paris, French President Francois Hollande said French troops would take a step back once the job of retaking key towns was complete, and Malian and other African troops would take over the task of hunting the rebels.


"They are the ones who will go into the northern part, which we know is the most difficult because that's where the terrorists are hiding," Hollande said.


As the French and Malian troops thrust into northern Mali, African troops for a U.N.-backed continental intervention force for Mali, expected to number 7,700, are being flown into the country, despite severe delays and logistical problems.


Outgoing African Union Chairman President Thomas Boni Yayi of Benin scolded AU states at a weekend summit in Addis Ababa for their slow response to assist Mali while former colonial power France took the lead in the military operation.


Burkina Faso, Benin, Nigeria, Senegal, Togo, Niger and Chad are providing soldiers for the AFISMA force. Burundi and other nations have pledged to contribute.


AU Peace and Security Commissioner Ramtane Lamamra said these regional troops could play a useful "clean-up" role once the main military operations against the Islamist rebels end.


Speaking in Addis Ababa on Monday, U.N. Secretary-General Ban Ki-moon said the U.N. was "actively considering" helping the troop-contributing African countries with logistical support.


(Additional reporting by Richard Valdmanis in Sevare, Mali, Bate Felix and David Lewis in Dakar, Maria Golovina in London, Alexandria Sage, Vicky Buffery and Emmanuel Jarry in Paris, Tiemoko Diallo in Bamako, Abdoulaye Massalatchi in Niamey, Richard Lough and Aaron Masho in Addis Ababa; Writing by Pascal Fletcher; Editing by Andrew Heavens)



Read More..

Euro, shares stall as investors turn cautious


LONDON (Reuters) - Rallies in European shares and the single currency stalled on Monday after strong gains last week as investors awaited confirmation that financial market conditions and the outlook for the euro area have improved.


Investor sentiment rose strongly on Friday after data showed European banks would repay more than expected of the emergency loans they borrowed from the European Central Bank (ECB) and that business sentiment in Germany was improving sharply.


A solid start to the corporate earnings season has also helped send many equity indexes to pre-financial crisis highs, with the Standard & Poor's 500 index closing last week at its highest level in over five years.


In the equity markets Europe's FTSEurofirst 300 index <.fteu3> shed 0.1 percent in early trade to 1,173.87 points, leveling off near its highest level for almost two years, though traders said there was still strong underlying demand.


"All European benchmarks are at their 2012-2013 highs. Every time there's even a slight pull-back, the buying pressure comes in," Aurel BGC chartist Gerard Sagnier said.


The market's cautious mood on Monday also followed a weaker session in Asia, where falls in technology companies saw the MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> drop 0.4 percent.


The euro held near an 11-month high against the dollar $1.3440

Meanwhile, German government bond futures, a key gauge of investor sentiment, continued to ease, slipping a further 7 ticks to 142.40 on Monday, and gold is languishing near a two-week low as hopes for an economic recovery worldwide dampen the metal's appeal as a safe haven.


Investors are keenly awaiting the ECB's monthly data on bank lending to companies and consumers, due later, for confirmation that growth is returning to the economy. Italy will also provide a test of investor sentiment when it auctions almost 7 billion euros ($9.4 billion) of 2-year and 5-year bonds.


However, the main focus for investors this week will be on the U.S., where the Federal Reserve's Open Market Committee meets on Tuesday and Wednesday, and where the nonfarm payrolls report is due out on Friday.


Oil prices were being held in check by the events coming up in the U.S., with Brent crude unchanged at $113.28 a barrel, while U.S. crude rose 17 cents to $96.05 after seven straight weekly gains - the longest such streak since early 2009.


($1 = 0.7421 euros)


(Reporting by Richard Hubbard; Editing by Will Waterman)



Read More..

Energy-Guzzling Cities Changing Weather 1,000 Miles Away






The heat released by everyday activities in energy-guzzling cities is changing the weather in far-away places, scientists report today (Jan. 27).


The released heat is changing temperatures in areas more than 1,000 miles away (1609 kilometers). It is warming parts of North America by about 1 degree Fahrenheit (0.6 degrees Celsius) and northern Asia by as much as 1.8 degrees Fahrenheit (1 degree Celsius), while cooling areas of Europe by a similar amount, scientists report in the journal Nature Climate Change.






The released heat (dubbed waste heat), it seems, is changing atmospheric circulation, including jet streams — powerful narrow currents of wind that blow from west to east and north to south in the upper atmosphere. 


This impact on regional temperatures may explain a climate puzzle of sorts: why some areas are having warmer winters than predicted by climate models, the researchers said. In turn, the results suggest this phenomenon should be accounted for in models forecasting global warming.


“There’s a tendency in climate science to overlook the effects of cities,” Brian Stone, a professor of city and regional planning at Georgia Tech, told LiveScience. “Cities occupy just a few percent of the global land surface, but the amount of energy released as waste heat is contributing downwind to pretty significant changes in climate. I hope this will encourage us to focus more on cities as important drivers of climate change,” added Stone, who was not involved in the current study. [8 Ways Global Warming Is Already Changing the World]


Hot in the city


Cities are known to be warmer than their surroundings due to what’s known as the urban heat island effect — pavement, buildings and other building materials retain heat, preventing it from reradiating into the sky.


In the new study, the researchers looked at another kind of “urban heat,” this one produced directly by transportation, heating and cooling units, and other energy-consuming activities.


“The burning of fossil fuel not only emits greenhouse gases, but also directly affects temperatures because of heat that escapes from sources like buildings and cars,” said study researcher Aixue Hu, of the National Center for Atmospheric Research (NCAR), in a statement. “Although much of this waste heat is concentrated in large cities, it can change atmospheric patterns in a way that raises or lowers temperatures across considerable distances.”


Hu and colleagues studied the energy effect using the National Center for Atmospheric Research (NCAR) model, a widely used climate model that takes into account the effects of greenhouse gases, topography, oceans, ice and global weather. The researchers ran the model with and without the input of human energy consumption, to see whether it could account for large-scale regional warming.


When man-made energy was included in the model, it led to winter and autumn temperature changes of up to 1.8 degrees F (1 degree C) in mid- and high-latitude parts of North America and Eurasia. The modeling is based on estimates, however, and more studies are needed to measure how much heat is actually released by urban areas.


Heat disrupts jet stream


Here’s how the scientists think it works: Energy-hungry metropolitan areas are located on the east and west coasts of North America and Eurasia, beneath major “hot spots” of atmospheric circulation. The waste heat from these cities creates thermal mountains, or taller-than-normal columns of heated air, which cause air jets moving eastward to deflect northward and southward.


As a result, the jet stream in upper latitudes widens and strengthens, bringing up hot air from the south and causing warming far from the urban areas (and concurrent cooling in others).


“The energy consumption in highly populated areas can cause changes in wind patterns, and that causes climate change far away from the heating source,” said meteorologist and study author Ming Cai of Florida State University.


Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Weather News Headlines – Yahoo! News





Title Post: Energy-Guzzling Cities Changing Weather 1,000 Miles Away
Url Post: http://www.news.fluser.com/energy-guzzling-cities-changing-weather-1000-miles-away/
Link To Post : Energy-Guzzling Cities Changing Weather 1,000 Miles Away
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Why haven't we learned from fires?




















Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire


Hundreds dead in Brazil nightclub fire





<<


<





1




2




3




4




5




6




7




8




9




10




11




12




13



>


>>







STORY HIGHLIGHTS


  • Pyrotechnics, overcrowding, poor exits have contributed to tragic fires in recent years

  • You would think the world would have learned from past incidents, John Barylick says

  • Concertgoers have to be their own fire marshals, he says




Editor's note: John Barylick, author of "Killer Show," a book on the 2003 Station nightclub fire in Rhode Island, is an attorney who represented victims in wrongful death and personal injury cases arising from the fire.


(CNN) -- Sunday morning we awoke to breaking news of another tragic nightclub fire, this time in Brazil. At last report the death toll exceeded 230.


This tragedy is not without precedent. Next month will mark the 10th anniversary of a similar nightclub fire in Rhode Island. At this sad time, it's appropriate to reflect on what we've learned from club fires -- and what we haven't.


Rhode Island's Station nightclub fire of 2003, in which 100 concertgoers lost their lives, began when fireworks set off by Great White, an 80s heavy metal band, ignited flammable packing foam on the club's walls.



John Barylick

John Barylick



Panicked patrons stampeded toward the club's main exit, and a fatal pileup ensued. Contributing to the tragedy were illegal use of pyrotechnics, overcrowding and a wall covering that would have failed even the most rudimentary flammability tests.


Video images of the Station fire were broadcast worldwide: A concert begins; the crowd's mood changes from merry, to curious, to concerned, to horrified -- in less than a minute. You'd think the world would have learned from it. You would be wrong.


Deadly blazes: Nightclub tragedies in recent history



The following year, the Republica Cromanon nightclub in Argentina went up in flames, killing 194 people. The club was made to hold about 1,000 people, but it was estimated that more than 3,000 fans were packed inside the night of the fire, which began when fans began lighting flares that caught the roof on fire.


Then, in January 2009, at least 64 New Year's revelers lost their lives in a nightclub in Bangkok, Thailand, after fire ignited its ceiling. Many were crushed in a rush to get out of the club. In December of that same year, a fire in a Russian nightclub, ignited by pyrotechnics, killed 156 people. Overcrowding, poor exits, and indoor fireworks all played roles in these tragedies; yet no one bothered to learn from mistakes of the past.


While responsibility for concert disasters unquestionably lies with venue operators, performers and promoters, ultimately, we, as patrons of clubs and concerts, can enhance our own safety by taking a few simple steps. The National Fire Protection Association urges concertgoers to:


• Be observant. Is the concert venue rundown or well-maintained? Does the staff look well-trained?


• As you proceed to your seat, observe how long the process takes. Could you reverse it in a hurry? Do you pass through pinch points? Is furniture in the way?


• Once seated, take note of the nearest exit. (In an emergency, most people try to exit by the door they entered, which is usually not the closest, and is always overcrowded.) Then, share the location of that nearest exit with your entire party. Agree that at the first sign of trouble, you will all proceed to it without delay.


• Once the show begins, remain vigilant. If you think there's a problem, LEAVE IMMEDIATELY. Do not stay to "get your money's worth" despite concerns about safety. Do not remain to locate that jacket or bag you placed somewhere. No concert is worth your life. Better to read about an incident the next day than be counted as one of its statistics.


Read more: How to protect yourself in a crowd


To be sure, all fire codes must be vigorously enforced, and club and concert hall operators must be held to the highest standards. A first step is banning indoor pyrotechnics in all but the largest, stadium-type venues.


But, ultimately, we are our own best "fire marshals" when it comes to avoiding, and escaping, dangerous situations. We can still enjoy shows. But it is up to us to look out for our own safety.


In coming days, Rhode Islanders will follow the unfolding news from Brazil with a sense of queasy deja vu -- the rising body counts, the victim identification process, the grieving families, and the assigning (and dodging) of blame. If only they had learned from our tragedy.


The opinions expressed in this commentary are solely those of John Barylick.







Read More..

2 dead after apparent carbon monoxide leak in W. Rogers Park









Two women are dead and another was hospitalized after an apparent carbon monoxide leak in a West Rogers Park building, officials said.


Paramedics were first called about 10:30 a.m. to the building, which is in the 2500 block of West North Shore Avenue, to transport one woman to the hospital, Chicago Fire Department spokeswoman Meg Ahlheim said.


The woman was taken in cardiac arrest to Swedish Covenant Hospital, Ahlheim said.





Fire officials at the scene called for a second ambulance, and a second woman was taken to Swedish Covenant as well, Ahlheim said.


Once paramedics became aware of the second victim, fire officials checked the building's carbon monoxide levels but found no indication of a leak, Ahlheim said.


Paramedics were called back to the scene, however, about 3:45 p.m., for another woman found unresponsive. The woman was taken to St. Francis Hospital in Evanston in critical condition, Ahlheim said.


Officials checked carbon monoxide level again, and while the meter readings in residential units showed no exposure, officials found a positive reading for a low level of carbon monoxide near a boiler in the basement, Ahlheim said.


The Cook County medical examiner's office confirmed Sunday evening that it had been notified of two fatalities from the building.


Police suspect the deaths were caused by accidental carbon monoxide poisoning, but no official determination will be made until autopsy results are reported, Chicago Police Department News Affairs Officer Amina Greer said.


A spokeswoman for Peoples Gas, Jennifer Block, confirmed that representatives from the company were called to the building to assist police and fire officials. She referred further questions to the police and fire departments.


asege@tribune.com


Twitter: @AdamSege






Read More..