N. Korea displays Kim Jong Il a year after death






PYONGYANG, North Korea (AP) — North Korea unveiled the embalmed body of Kim Jong Il, still in his trademark khaki jumpsuit, on the anniversary of his death Monday as mourning mixed with pride over a recent satellite launch that was a long-held goal of the late authoritarian leader.


Kim lies in state a few floors below his father, national founder Kim Il Sung, in the Kumsusan mausoleum, the cavernous former presidential palace. Kim Jong Il is presented lying beneath a red blanket, a spotlight shining on his face in a room suffused in red.






Wails echoed through the chilly hall as a group of North Korean women sobbed into the sashes of their traditional Korean dresses as they bowed before his body. The hall bearing the glass coffin was opened to select visitors — including The Associated Press — for the first time since his death.


North Korea also unveiled Kim’s yacht and his armored train carriage, where he is said to have died. Among the personal belongings featured in the mausoleum are the parka, sunglasses and pointy platform shoes he famously wore in the last decades of his life. A MacBook Pro lay open on his desk.


North Koreans paid homage to Kim and basked in the success of last week’s launch of a long-range rocket that sent a satellite named after him to space.


The launch, condemned in many other capitals as a violation of bans against developing its missile technology, was portrayed not only as a gift to Kim Jong Il but also as proof that his young son, Kim Jong Un, has the strength and vision to lead the country.


The elder Kim died last Dec. 17 from a heart attack while traveling on his train. His death was followed by scenes of North Koreans dramatically wailing in the streets of Pyongyang, and of the 20-something son leading ranks of uniformed and gray-haired officials through funeral and mourning rites.


The mood in the capital was decidedly more upbeat a year later, with some of the euphoria carrying over from last Wednesday’s launch. The satellite bears one of Kim Jong Il’s nicknames, Kwangmyongsong, or “Lode Star,” a moniker given to him at birth according to the official lore.


Cameras were not allowed inside the mausoleum, and state media did not release any images of Kim Jong Il’s body.


With the death anniversary came a hint that Kim Jong Un himself might soon be a father.


His wife, Ri Sol Ju, was seen on state TV with what appeared to be a baby bump as she walked slowly next to her husband at the mausoleum, where they bowed to statues of Kim’s father and grandfather.


There is no official word from Pyongyang about a pregnancy. In addition, Ri is shown wearing a billowing traditional Korean dress in black that makes it difficult to know for sure.


North Koreans are reluctant to discuss details of the Kim family that have not been released by the state. Still there are rumors even in Pyongyang about whether the country’s first couple is expecting.


To honor Kim’s father, North Koreans stopped in their tracks at midday and bowed their heads as the national flag fluttered at half-staff along streets and from buildings.


Pyongyang construction workers took off their yellow hard hats and bowed at the waist as sirens wailed across the city for three minutes.


Tens of thousands of North Koreans gathered in the frigid plaza outside, newly transformed into a public park with lawns and pergolas. Geese flew past snow-tinged firs and swans dallied in the partly frozen moat that rings the vast complex in Pyongyang’s outskirts.


“Just when we were thinking how best to uphold our general, he passed away,” Kim Jong Ran said at the plaza. “But we upheld leader Kim Jong Un. … We regained our strength and we are filled with determination to work harder for our country.”


Speaking outside the mausoleum, renamed the Kumsusan Palace of the Sun, the military’s top political officer, Choe Ryong Hae, said North Korea should be proud of the satellite, calling it “a political event with great significance in the history of Korea and humanity.”


Much of the rest of the world, however, was swift in condemning the launch, which was seen by the United States and other nations as a thinly disguised cover for testing missile technology that could someday be used for a nuclear warhead.


The test, which the U.N. Security Council said violated a ban on launches using ballistic missile technology, underlined Kim Jong Un’s determination to continue carrying out his father’s hardline policies even if they draw international condemnation.


Washington said Monday it has no option but to seek to isolate Pyongyang further.


“What’s left to us is to continue to increase pressure on the North Korean regime and we are looking at how to best to do that, both bilaterally and with our partners going forward until they (North Korea) get the message. We are going to further isolate this regime,” U.S. State Department spokeswoman Victoria Nuland said.


Some outside experts worry that Pyongyang’s next move will be to press ahead with a nuclear test in the coming weeks, a step toward building a warhead small enough to be carried by a long-range missile.


Despite inviting further isolation for his impoverished nation and the threat of stiffer sanctions, Kim Jong Un won national prestige and clout by going ahead with the rocket launch.


At a memorial service on Sunday, North Korea’s top leadership not only eulogized Kim Jong Il, but also praised his son. Kim Yong Nam, president of the Presidium of North Korea’s parliament, called the launch a “shining victory” and an emblem of the promise that lies ahead with Kim Jong Un in power.


The rocket’s success also fits neatly into the narrative of Kim Jong Il’s death. Even before he died, the father had laid the groundwork for his son to inherit a government focused on science, technology and improving the economy. And his pursuit of nuclear weapons and the policy of putting the military ahead of all other national concerns have also carried into Kim Jong Un’s reign.


In a sign of the rocket launch’s importance, Kim Jong Un invited the scientists in charge of it to attend the mourning rites in Pyongyang, according to state media.


The reopening of the mausoleum on the anniversary of the leader’s death follows tradition. Kumsusan, the palace where his father, Kim Il Sung, served as president, was reopened as a mausoleum on the anniversary of his death in 1994.


___


Associated Press writers Hyung-jin Kim in Seoul, South Korea, and Matthew Pennington in Washington contributed to this report. Follow Jean Lee, AP’s bureau chief for Pyongyang and Seoul, at www.twitter.com/newsjean.


Asia News Headlines – Yahoo! News





Title Post: N. Korea displays Kim Jong Il a year after death
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..

Judge rejects Apple injunction bid vs. Samsung






(Reuters) – A U.S. judge on Monday denied Apple Inc‘s request for a permanent injunction against Samsung Electronics‘ smartphones, depriving the iPhone maker of key leverage in the mobile patent wars.


Apple had been awarded $ 1.05 billion in damages in August after a U.S. jury found Samsung had copied critical features of the iPhone and iPad. The Samsung products run on the Android operating system, developed by Google.






Apple and Samsung are going toe-to-toe in a patents dispute that mirrors the struggle for industry supremacy between the two companies, which control more than half of worldwide smartphone sales.


For most of the year, Apple had been successful in its U.S. litigation campaign against Samsung. Apple convinced U.S. District Judge Lucy Koh in San Jose, California to impose two pretrial sales bans against Samsung — one against the Galaxy Tab 10.1, and the other against the Galaxy Nexus phone.


Apple then sought to keep up the pressure after its sweeping jury win. It asked Koh to impose a permanent sales ban against 26 mostly older Samsung phones, though any injunction could potentially have been extended to Samsung’s newer Galaxy products.


Yet the jury exonerated Samsung on the patent used to ban Galaxy Tab 10.1 sales, and Koh rescinded that injunction. Then, in October, a federal appeals court reversed Koh’s ban against the Nexus phone.


In her order late on Monday, Koh cited that appellate ruling as binding legal precedent, ruling that Apple had not presented enough evidence that its patented features drove consumer demand for the entire iPhone.


“The phones at issue in this case contain a broad range of features, only a small fraction of which are covered by Apple’s patents,” Koh wrote.


“Though Apple does have some interest in retaining certain features as exclusive to Apple,” she continued, “it does not follow that entire products must be forever banned from the market because they incorporate, among their myriad features, a few narrow protected functions.”


An Apple spokeswoman declined to comment on Koh’s ruling, and a Samsung representative could not immediately be reached.


In a separate order on Monday, Koh rejected a bid by Samsung for a new trial based on an allegation that the jury foreman was improperly biased in favor of Apple.


The case in U.S. District Court, Northern District of California is Apple Inc. vs. Samsung Electronics Co Ltd et al, 11-1846.


(Reporting by Dan Levine in Oakland, California; Editing by Ron Popeski)


Wireless News Headlines – Yahoo! News





Title Post: Judge rejects Apple injunction bid vs. Samsung
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..

Participant Media plans cable TV network targeting millenials






LOS ANGELES (Reuters) – Entertainment company Participant Media, one of the backers of the hit historical drama “Lincoln”, will launch a cable TV network next summer with programming that focuses on social issues of interest to the millenials generation of teens and young adults.


The channel’s original programming, films and documentaries will be aimed at viewers age 18 to 34 in the large demographic group known as millenials, Participant Media CEO Jim Berk said in an interview on Monday.






Millenials are particularly interested in the type of content that Participant produces about social issues, Berk said. The studio’s credits include the current release “Lincoln”, about President Abraham Lincoln‘s push to ban slavery, last year’s civil rights drama “The Help” and Al Gore climate change documentary “An Inconvenient Truth”.


Participant Media is creating the new network by purchasing two existing cable channels, The Documentary Channel and Halogen TV. After those networks are combined and rebranded, the new channel will reach an estimated 40 million of the more than 100 million U.S. pay-TV subscribers.


The company, founded by billionaire and former eBay Inc President Jeff Skoll with the aim of producing entertaining content that inspires social change, interacts regularly with more than 2.5 million people through social media, local movie screenings and its Takepart.com website, Berk said.


The challenge for Participant will be to sign up additional pay-TV distributors and win viewership in a crowded media landscape. The company is privately held and is not part of a large media conglomerate.


“We have the funding necessary to take a very long-term view, and to spend what we need to spend in terms of programming,” Berk said.


The mainstay of the network’s lineup will be original programming from a variety of genres, said Evan Shapiro, a Participant executive who will run the new network.


The company is developing programming with established Hollywood names including former MTV President Brian Graden, “Inconvenient Truth” director Davis Guggenheim and documentary filmmaker Morgan Spurlock.


Participant also hopes to work with pay-TV distributors to make the channel’s content available on mobile devices such as smartphones and tablets, to meet the viewing patterns of younger audiences, Shapiro said.


(Reporting By Lisa Richwine; Editing by Edmund Klamann)


TV News Headlines – Yahoo! News





Title Post: Participant Media plans cable TV network targeting millenials
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..

Bird flu kills 4-year-old boy in Indonesia






JAKARTA, Indonesia (AP) — A 4-year-old Indonesian boy has died from bird flu, bringing the death toll to 160 in the world’s hardest-hit country.


Health Ministry official Rita Kusriastuti said Tuesday that the boy died Dec. 6 in Tangerang city, just west of Jakarta, the capital. He developed symptoms of a cold and fever on Nov. 30 and was treated at a public health center before being hospitalized the same day he died.






Kusriastuti said the boy, from the West Java district of Bogor, was believed to have been infected with the H5N1 virus after having direct contact with dead fowl around his house.


Bird flu has killed at least 360 people worldwide since 2003. It remains hard for people to catch, but experts fear it could mutate into a more deadly form.


Diseases/Conditions News Headlines – Yahoo! News





Title Post: Bird flu kills 4-year-old boy in Indonesia
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..

‘Rise’ in planning permissions







Planning permission was granted for 33,881 homes across England in July to September, according to figures from the Home Builders Federation (HBF).






It said this was a 36% rise on the 24,872 approvals in the second quarter, and 17% higher than a year earlier.


However, the HBF said the latest figure was still less than the 60,000 approvals it says are needed each quarter to meet demand.


In April, planning law in England was changed to give councils more powers.


Under the National Planning Policy Framework, local authorities are required to work out future housing needs in their area, and then allocate sufficient land to meet it.


The aim of the government is to remove obstacles to the building of new houses, and to speed up planning decisions.


Stewart Baseley, executive chairman of the HBF, said: “The increase is good news and hopefully a reflection of the positive planning principles of the new system. It is just one quarterly increase and we are still well short of the number needed but we hope it starts a trend that will continue in 2013.


“The new system must provide enough viable land to build the number of homes the country needs. Continuing the current low level of house-building is storing up huge social and economic problems for the years ahead and the shortfall must be addressed.”


The HBF is the representative body of the home building industry in England and Wales.


BBC News – Business





Title Post: ‘Rise’ in planning permissions
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..

Egyptians hand Islamists narrow win in constitution vote






CAIRO (Reuters) – Egyptians voted in favor of a constitution shaped by Islamists but opposed by other groups who fear it will divide the Arab world’s biggest nation, officials in rival camps said on Sunday after the first round of a two-stage referendum.


Next week’s second round is likely to give another “yes” vote as it includes districts seen as more sympathetic towards Islamists, analysts say, meaning the constitution would be approved.






But the narrow win so far gives Islamist President Mohamed Mursi only limited grounds for celebration by showing the wide rifts in a country where he needs to build a consensus for tough economic reforms.


The Muslim Brotherhood‘s party, which propelled Mursi to office in a June election, said 56.5 percent backed the text. Official results are not expected until after the next round.


While an opposition official conceded the “yes” camp appeared to have won the first round, the opposition National Salvation Front said in a statement that voting abuses meant a rerun was needed – although it did not explicitly challenge the Brotherhood‘s vote tally.


Rights groups reported abuses such as polling stations opening late, officials telling people how to vote and bribery. They also criticized widespread religious campaigning which portrayed “no” voters as heretics.


A joint statement by seven human rights groups urged the referendum’s organizers “to avoid these mistakes in the second stage of the referendum and to restage the first phase again”.


Mursi and his backers say the constitution is vital to move Egypt’s democratic transition forward. Opponents say the basic law is too Islamist and tramples on minority rights, including those of Christians who make up 10 percent of the population.


The build-up to Saturday’s vote was marred by deadly protests. Demonstrations erupted when Mursi awarded himself extra powers on November 22 and then fast-tracked the constitution through an assembly dominated by his Islamist allies.


However, the vote passed off calmly with long queues in Cairo and several other places, though unofficial tallies indicated turnout was around a third of the 26 million people eligible to vote this time. The vote was staggered because many judges needed to oversee polling staged a boycott in protest.


The opposition had said the vote should not have been held given the violent protests. Foreign governments are watching closely how the Islamists, long viewed warily in the West, handle themselves in power.


“It’s wrong to have a vote or referendum with the country in the state it is – blood and killings, and no security,” said Emad Sobhy, a voter who lives in Cairo. “Holding a referendum with the country as it is cannot give you a proper result.”


INCREASINGLY DIVIDED


As polls closed, Islamists attacked the offices of the newspaper of the liberal Wafd party, part of the opposition National Salvation Front coalition that pushed for a “no” vote.


“The referendum was 56.5 percent for the ‘yes’ vote,” a senior official in the Brotherhood’s Freedom and Justice Party operations room set up to monitor voting told Reuters.


The Brotherhood and its party had representatives at polling stations across the 10 areas, including Cairo, in this round. The official, who asked not to be identified, said the tally was based on counts from more than 99 percent of polling stations.


“The nation is increasingly divided and the pillars of state are swaying,” opposition politician Mohamed ElBaradei wrote on Twitter. “Poverty and illiteracy are fertile grounds for trading with religion. The level of awareness is rising fast.”


One opposition official also told Reuters the vote appeared to have gone in favor of Islamists who backed the constitution.


The opposition initially said its exit polls indicated the “no” camp would win comfortably, but officials changed tack during the night. One opposition official said in the early hours of Sunday that it would be “very close”.


A narrow loss could still hearten leftists, socialists, Christians and more liberal-minded Muslims who make up the disparate opposition, which has been beaten in two elections since Hosni Mubarak was overthrown last year.


They were drawn together to oppose what they saw as a power grab by Mursi as he pushed through the constitution. The National Salvation Front includes prominent figures such as ElBaradei, former Arab League chief Amr Moussa and firebrand leftist Hamdeen Sabahy.


If the constitution is approved, a parliamentary election will follow early next year.


DEADLY VIOLENCE


Analysts question whether the opposition group will keep together until the parliamentary election. The Islamist-dominated lower house of parliament elected earlier this year was dissolved based on a court order in June.


Violence in Cairo and other cities has plagued the run-up to the referendum. At least eight people were killed when rival camps clashed during demonstrations outside the presidential palace earlier this month.


In order to pass, the constitution must be approved by more than 50 percent of those casting ballots. There are 51 million eligible voters in the nation of 83 million.


Islamists have been counting on their disciplined ranks of supporters and on Egyptians desperate for an end to turmoil that has hammered the economy and sent Egypt’s pound to eight-year lows against the dollar.


The army deployed about 120,000 troops and 6,000 tanks and armored vehicles to protect polling stations and other government buildings. While the military backed Mubarak and his predecessors, it has not intervened in the present crisis.


(Additional reporting Yasmin Saleh and Marwa Awad; Writing by Edmund Blair and Giles Elgood; Editing by Tom Pfeiffer)


World News Headlines – Yahoo! News





Title Post: Egyptians hand Islamists narrow win in constitution vote
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..

Top 5 Apps for Kids This Week






1. PHLIP


Ages 4-up Overall rating: 4.1 out of 5 stars Why we like it: PHLIP is a spatial relations puzzle where you “flip” or turn your screen left or right, like a steering wheel, to change the orientation of the set of tiles, in order to reassemble the picture. You can use photos you take, or choose one from your photo library. Need to know: The more tiles, the harder the puzzle. You can lock any tile by tapping on it. The physical rotation of the device develops motor and cognitive skills and hand-eye coordination. It can also cause your heavy iPad to slip out of your hands. This is a game that works much better on an iPad Mini. Ease of use: 8/10 Educational: 9/10 Entertaining: 7/10 $ 0.99


Click here to view this gallery.






[More from Mashable: How to Crowdsource Your Job Hunt]


Chris Crowell is a veteran kindergarten teacher and contributing editor to Children’s Technology Review, a web-based archive of articles and reviews on apps, technology toys and video games. Download a free issue of CTR here.


In this week’s Top 5 Kids Apps, your kids can play with a spatial puzzle that lets them reassemble photographs they upload themselves. There’s also a chance to learn and have fun with geography trivia and explore Australia with an illustrated story.


[More from Mashable: 4 Benefits of a Job Search Community]


Our friends at Children’s Technology Review shared with us these 5 top apps from their comprehensive monthly database of kid-tested reviews. The site covers everything from math and counting to reading and phonics.


Check back next week for more Top Kids Apps from Children’s Technology Review


Photo via iStockPhoto, cglade


This story originally published on Mashable here.


Gadgets News Headlines – Yahoo! News





Title Post: Top 5 Apps for Kids This Week
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..

Springsteen, Gaga join Stones; Newtown noted






NEW YORK (AP) — Only at a Rolling Stones concert could appearances by Bruce Springsteen and Lady Gaga seem almost like afterthoughts.


Those superstars and other top acts including the Black Keys and John Mayer jammed with the Stones on Saturday night, winding down a series of concerts celebrating the 50th year of rock’s most enduring band (the occasion was also marked by a pay-per-view special).






The Boss rocked out with the band on out “Tumbling Dice”; Gaga matched Mick Jagger shimmy-for-shimmy on “Gimme Shelter”; the Black Keys joined on “Who Do You Love,” and John Mayer and Gary Clark Jr. showed their considerable guitar chops alongside Keith Richards and Ronnie Wood on “Goin’ Down.”


But the Stones would not be upstaged. While the sold-out crowd roared with each special guest, it was the aging but dynamic foursome that generated the most excitement of the night, as they put new energy into their decades-old catalog of hits, including “It’s Only Rock ‘N Roll (But I Like It),” ”Start Me Up,” ”Brown Sugar,” ”Sympathy for the Devil” and more.


The band took a moment to acknowledge the shooting deaths of 20 children and six adults at an elementary school Friday in Newtown, Conn. “We just wanted to send our love and condolences to all the people who lost loved ones in the tragedy in Connecticut,” Jagger early on in the concert as the audience applauded. Jagger noted the entire world was feeling the pain of the stunned nation.


But it was the only somber moment in an a frenetic show that showed why the Stones are considered by many to be the greatest rock band, and belied the much-discussed advanced age of the group’s lineup (their ages range between 65 and 71).


Jagger himself poked fun at the senior citizen status of the band and their fans; speaking of the pay-per-view crowd at home, he joked: “Some of you have got your grandchildren watching you.”


But few acts in their so-called prime would have been able to match the energy the Stones radiated onstage. The group had the crowd on its feet for the entire show as Jagger gyrated across the stage, his voice in top form. Both Wood and Richards dazzled on guitar (Richards got a raucous, sustained ovation as he took over vocals on two songs). And Charlie Watts kept the beat strong on the drums.


Before performing in London together late last month for the first of the concerts, the Stones hadn’t performed in concert together since 2007. Going into these shows, there was some speculation that Saturday’s concert, held at the Prudential Center, might be their last.


Earlier in the evening, Jagger teased that the concert might signal the end: “This could be the last time; I don’t know,” he said. But by the end of the evening, it seemed clear that the question was not when the Stones would return, but when.


“This is the last show of our anniversary tour, and we hope to see you all again soon,” Jagger said.


Perhaps the night’s most special guest was Mick Taylor, the former Stones guitarist who was part of some of their biggest moments from 1969 to 1975, when he left the group. He rejoined his band mates (and the man who replaced him, Wood) onstage for a powerful performance of “Midnight Rambler”.


At the concert’s end, while other special guests gave their final bows and left the stage, Jagger motioned for Taylor to stay, and the five took their final bow together.


___


Nekesa Mumbi Moody is the AP’s Global Entertainment & Lifestyles Editor. Follow her at http://twitter.com/nekesamumbi


Entertainment News Headlines – Yahoo! News





Title Post: Springsteen, Gaga join Stones; Newtown noted
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..

Boehner opens door to tax hikes, shifts U.S. fiscal cliff talks






WASHINGTON (Reuters) – U.S. House of Representatives Speaker John Boehner‘s offer to accept a tax rate increase for the wealthiest Americans knocks down a key Republican road block to a deal resolving the year-end “fiscal cliff.”


The question now boils down to what President Barack Obama offers in return. Such major questions, still unanswered so close to the end of the year suggest, however, that no spending and tax agreement is imminent.






A source familiar with the Obama-Boehner talks confirmed that Boehner proposed extending low tax rates for everyone who has less than $ 1 million in net annual income, meaning tax rates would rise on all above that line.


Under current law, the 35 percent top tax rate is scheduled to expire on January 1, and would automatically go to 39.6 percent. Boehner’s proposal would allow that rate to rise as scheduled at a threshold of $ 1 million – putting it back to where it was during the Clinton administration.


The White House has not accepted the proposal and the source could not confirm any additional talks were held on Sunday between Obama and Boehner.


With just over two weeks before the fiscal cliff’s $ 600 billion in automatic tax hikes and spending cuts are triggered, threatening a new recession, there is little time to craft a comprehensive deal that will satisfy both Democrats and Republicans.


Until the latest Republican offer, made on Friday, Boehner had insisted on extending all of the Bush era’s lower tax rates, resisting Obama’s demand to let the marginal rates rise on income above $ 250,000. A rising chorus of business executives also had urged Republicans to agree to this.


Some lawmakers and congressional aides had predicted that Republicans, once serious negotiations began, might try to raise the $ 250,000 threshold, say to $ 500,000 or $ 1 million. They also speculated that Republicans, if forced into a tax rate hike on the upper-income groups, might seek a smaller increase, say to around 37 percent.


Although the White House has not accepted Boehner’s gambit, it could push negotiations away from entrenched, ideological positions.


“Boehner has now accepted the premise of higher rates. So now we’re just arguing over details. I think it’s a significant step,” said Greg Valliere, chief political strategist at Potomac Research Group.


A framework deal spelling out tax revenue and spending cut targets to be finalized in the new year could be possible, Valliere said.


“Boehner’s offer to allow tax rates to go up for taxpayers earning over $ 1 million fundamentally transforms fiscal cliff negotiations,” added Sean West, U.S. policy analyst at Eurasia Group, a political risk consultancy.


In a note to clients, West wrote that it signals, significantly, that Boehner ultimately believes a deal to avoid the cliff is still possible.


“The political burden is now shifted back to the president, who must be willing to take on his party in order to get a deal Boehner can ultimately pass. We do not think the president will overreach: Obama will work with Boehner to get to a deal.”


There are still several critical elements to a deal besides a tax rate increase on the wealthy, including Republican demands to cut spending on social programs.


Changes to the expensive Medicare and Medicaid health care programs for the elderly and the poor could be central to any deal, which must also include an increase in the federal debt limit needed by the end of February.


DEMANDS SOCIAL PROGRAM CUTS


Boehner conditioned his tax rate increase offer on Obama’s agreement to cuts in social program spending, often called entitlements.


Many Republican lawmakers want to raise the eligibility age for Medicare to 67 from 65. They also want to link Medicare to the income of recipients, making wealthier retirees pay more for their care.


Currently, Medicare does have some means testing, charging higher premiums for coverage of doctors visits and prescription drugs to individuals earning more than $ 85,000 and married couples earning more than $ 170,000. Only about 5 percent of recipients pay these higher premiums.


Thus far, Obama has offered only about $ 400 billion in 10-year entitlement savings, mostly through small adjustments in reining in health care costs – not fundamental changes such as raising the eligibility age.


And just as Boehner faces opposition in his own party to raising any tax rates, Obama faces opposition to cuts to Medicare, Medicaid and Social Security from Democrats, who pledged in election campaigns they would protect these programs.


A major bloc of congressional Democrats has already signaled they will not accept major cutbacks in Medicare as part of any fiscal cliff deal.


House Minority Leader Nancy Pelosi of California and Maryland Representative Chris Van Hollen of Maryland are among the high ranking Democrats in the House who have come out forcefully in recent days against raising the age for eligibility for Medicare to 67 years of age.


“Given the level of savings that is being talked about from Medicare, you can’t get it all from providers and drug makers,” said Paul Heldman, an analyst at Potomac Research, which tracks Washington policy for investors.


“So opponents of raising the eligibility age have reason to believe beneficiaries will take some sort of hit if a mega-deal is cut,” he said.


If Republicans are not successful in securing entitlement program cuts in exchange for a tax-rate increase on the wealthy, they are adamant about using a debt-limit increase as leverage to overhaul Social Security and Medicare.


The U.S. Treasury expects to reach its $ 16.4 trillion statutory debt cap by year-end, and will exhaust its remaining borrowing capacity around mid-February, risking a potential default.


Louisiana Republican Representative John Fleming, a member of the conservative Tea Party caucus who has never voted to increase the debt ceiling, said he would support a debt limit hike if it were part of a deal to make Medicare and Social Security sustainable.


The pace of activity could pick up the coming week.


House Republicans were told to prepare for a possible weekend session next week, potentially interrupting travel plans for the long Christmas holiday weekend.


House Majority Leader Eric Cantor scheduled “possible legislation related to expiring provisions of law,” a reference to the expiring tax cuts, for the end of the week, portending a weekend session. Cantor has said the House would meet through the Christmas holidays and beyond.


(This story was fixed to correct current top tax rate to 35 percent from 36 percent)


(Additional reporting by Thomas Ferraro, Richard Cowan and Kim Dixon; Editing by Fred Barbash, Todd Eastham and Jackie Frank)


Medications/Drugs News Headlines – Yahoo! News





Title Post: Boehner opens door to tax hikes, shifts U.S. fiscal cliff talks
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..

Nikkei hits eight and a half month high on yen, Asian shares ease






TOKYO (Reuters) – The Liberal Democratic Party of Japan‘s electoral triumph propelled the yen to a 20-month low against the dollar that saw the Nikkei stock average <.n225> touch a 8-1/2-month high on expectations of much better export earnings.</.n225>


But MSCI’s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.1 percent, after ending last week near 16-month highs which it had hit successively since December 5.</.miapj0000pus>






Regional bourses faced profit-taking from last week’s rally as investors worried whether the U.S. could reach a compromise over its budget crisis before the end-of-year deadline.


Shanghai shares <.ssec> bucked the trend with a 0.8 percent jump after the official Xinhua news agency said on Sunday that China pledged to maintain steady economic policies in 2013, leaving room for maneuver in the face of global risks while deepening reforms to support long-term growth.</.ssec>


The Shanghai Composite Index soared 4 percent and Hong Kong shares <.hsi> rose to a 16-month peak on Friday.</.hsi>


In a likely effort to restore confidence in China’s stock markets which have fallen by over 60 percent since November 2007 and have markedly lagged Asian peers in recent rallies, China’s foreign exchange regulator has removed the $ 1 billion limit for foreign sovereign wealth funds, central banks and monetary authorities buying Chinese assets through the Qualified Institutional Investor Programme.


Global shares fell on Friday displaying investor unease over the lack of progress in the U.S. fiscal talks, amid signs of a deepening recession in the euro zone as disappointing German manufacturing sector figures and a rise in euro zone unemployment overshadowed a small pick-up in purchasing manager data.


Australian shares <.axjo> fell 0.2 percent in thin trade on uncertainty over the U.S. fiscal woes.</.axjo>


“The volumes are very tiny,” Patersons Securities dealer Martin Angel of Australian stocks, adding many players were now out for the Christmas and New Year break. “There has been a lot of money sitting on the sidelines and people are just nibbling away at some quality stocks.”


South Korean shares <.ks11> inched down 0.1 percent after a steep weekly rise of 1.9 percent last Friday.</.ks11>


U.S. House of Representatives Speaker John Boehner’s offer to accept a tax rate increase for the wealthiest Americans knocks down a key Republican roadblock to a deal on the year-end “fiscal cliff,” but a deal has yet to be done, despite the looming deadline.


Failure to avert some $ 600 billion of tax hikes and spending cuts scheduled to start in January could threaten to throw the U.S. back into recession and damage the fragile recovery taking place elsewhere, such as in No. 2 global economy, China.


CHANGE OF GUARD IN JAPAN


The LDP surged back to power in a landslide election victory on Sunday, giving Prime Minister Shinzo Abe a chance to push his radical economic strategy calling for “unlimited” monetary easing and huge public works spending to bring the country out of decades-long deflation.


The Bank of Japan meets later this week and is widely expected to take further easing steps, but hold off from drastic measures until its next meeting after Japan‘s new cabinet is formed sometime later this month, analysts have said.


Analysts have predicted the yen will keep its weak trend underpinning equities, while the rise in stocks was unlikely to sharply raise the benchmark 10-year Japanese government bond yield.


The 20-year JGB yield rose to an eight-month high of 1.710 percent after the election.


The dollar rose as far as 84.48 yen in early Asia, its loftiest since April 2011, from around 83.50 late in New York on Friday. The euro jumped more than 1 yen to well above 111 yen, a 7-1/2-month high, early on Monday.


“I think that the policies that Abe plans to introduce will only serve to weaken the yen even further. If there is an unwinding opportunity, it will likely be short-lived, maybe falling back to 82 or so on the USD/JPY,” said Neal Gilbert, market strategist at GFT Forex.


Gilbert said the yen weakness will continue because Abe is likely to choose a BOJ governor who shares his policy ideas when current governor Masaaki Shirakawa’s term ends in April.


With the change of guard in Japanese politics drawing so much attention globally, some worry of the potential implications for financial relations between Tokyo and its key ally, the United States.


“What are the potential negative effects of decisive action to weaken the yen? How this impacts Japan’s relationship with the U.S. directly, and China in a different complex way, will have to be defined as it evolves,” said Richard Hastings, macro strategist at Global Hunter Securities.


U.S. crude was up 0.3 percent to $ 86.94 a barrel and Brent was steady around $ 108.19.


Asian credit markets were a touch safer as equities struggled to extend gains, widening the spreads on the iTraxx Asia ex-Japan investment-grade index by 1 basis point.


(Additional reporting by Victoria Thieberger in Melbourne; Editing by Eric Meijer)


Business News Headlines – Yahoo! News





Title Post: Nikkei hits eight and a half month high on yen, Asian shares ease
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..