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BP boss hands over oil spill management to American
Submitted by howdydo on Wed, 06/23/2010 - 21:26BP's Tony Hayward handed over management of the Gulf of Mexico oil spill on Wednesday after enduring weeks of criticism and ridicule in the United States for his handling of the disaster.
Bob Dudley, an American senior manager known as a skilled trouble-shooter who is also conveniently a native of the affected state of Mississippi, will take charge "effective immediately," BP said in a statement.
Belarus says Russia gas debt paid, threatens transit cut
Submitted by howdydo on Wed, 06/23/2010 - 21:25Belarus said Wednesday it had paid its debt to Russian gas giant Gazprom in full and threatened to shut down the flow of Russian gas to Europe if the firm did not pay transit fees by Thursday.
With the energy feud between the ex-Soviet neighbours in a third day and supply disruption reported in Europe, EU Energy Commissioner Guenther Oettinger called the dispute an "attack" on the whole European Union.
Lawmakers agree to broad terms for consumer protection agency
Submitted by howdydo on Wed, 06/23/2010 - 21:20Lawmakers on a special negotiating committee narrowing differences in the broader rewrite of financial regulation in generations agreed in principle Tuesday to create a new government agency to oversee credit products offered to consumers.
Senators on the conference committee late Tuesday accepted a host of House of Representatives amendments, all but clearing the way for creation of what will be called the Bureau of Consumer Financial Protection to be housed at the Federal Reserve and partially funded by the central bank.
Resolution fund to be dropped from Wall Street bill
Submitted by howdydo on Wed, 06/23/2010 - 21:15Large banks would not have to set aside money to cover the cost of liquidating troubled financial firms under an agreement on Wednesday by U.S. lawmakers finalizing a sweeping rewrite of financial regulations.
The agreement resolves a crucial sticking point as lawmakers close in on a final version of the overhaul.
Billions of dollars hang in the balance as Wall Street banks face a turning point with members of a panel negotiating the final bill expected to spell out limits on a range of risky but lucrative trading practices later on Wednesday.
McChrystal out; Petraeus picked for Afghanistan
Submitted by howdydo on Wed, 06/23/2010 - 20:57President Barack Obama ousted Gen. Stanley McChrystal as the top U.S. commander in Afghanistan on Wednesday, saying that his scathing published remarks about administration officials undermine civilian control of the military and erode the needed trust on the president's war team.
Obama named McChrystal's direct boss — Gen. David Petraeus — to take over the troubled 9-year-old war in Afghanistan. He asked the Senate to confirm Petraeus for the new post "as swiftly as possible."
Regulators OK plan to police banks' pay policies
Submitted by howdydo on Mon, 06/21/2010 - 18:55Federal regulators on Monday adopted a plan to ensure that banks' pay policies don't encourage employees to take reckless gambles like those that contributed to the recent financial crisis.
The plan, originally proposed by the Federal Reserve last year, was also endorsed by other key banking regulators — the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
Iran bans 2 UN nuclear inspectors from entering
Submitted by howdydo on Mon, 06/21/2010 - 18:46Tehran said Monday it had banned two U.N. nuclear inspectors from entering the country because they had leaked "false" information about Iran's disputed nuclear program
The ban is the latest twist in Iran's deepening tussle with the U.N.'s International Atomic Energy Agency and the West over its nuclear program. The United States and its allies warn that Iran's program is geared toward making nuclear weapons.
Tehran denies the charge saying its nuclear activities are only for peaceful purposes like power generation.
Abnormal radiation detected near Korean border
Submitted by howdydo on Mon, 06/21/2010 - 18:43Abnormally high radiation levels were detected near the border between the two Koreas days after North Korea claimed to have mastered a complex technology key to manufacturing a hydrogen bomb, Seoul said Monday.
The Science Ministry said its investigation ruled out a nuclear test by North Korea, but failed to determine the source of the radiation. It said there was no evidence of an earthquake, which follows an atomic explosion.
VA quietly giving benefits to Marines exposed to toxic water
Submitted by howdydo on Mon, 06/21/2010 - 18:32Former Marine Corps Cpl. Peter Devereaux was told about a year ago that he had just two or three years to live.
More than 12 months later, at 48, he still isn't ready to concede that the cancer that's wasting his innards is going to kill him. He swallows his pills and suffers the pain and each afternoon he greets his 12-year-old daughter, Jackie, as she steps off her school bus in North Andover, Mass.
Roundup resistant weeds pose environmental threat
Submitted by howdydo on Mon, 06/21/2010 - 18:22When the weed killer Roundup was introduced in the 1970s, it proved it could kill nearly any plant while still being safer than many other herbicides, and it allowed farmers to give up harsher chemicals and reduce tilling that can contribute to erosion.
But 24 years later, a few sturdy species of weed resistant to Roundup have evolved, forcing farmers to return to some of the less environmentally safe practices they abandoned decades ago.
Pakistani Taliban paid $12,000 to Times Square bomber Faisal Shahzad
Submitted by howdydo on Fri, 06/18/2010 - 18:29he Pakistani Taliban paid $12,000 to attempted Times Square bomber Faisal Shahzad, according to a federal indictment released Thursday. Further evidence of their involvement showcases the lengthening reach of Pakistan-based militants.
FDA fines Red Cross $16 million for safety lapses
Submitted by howdydo on Fri, 06/18/2010 - 18:25The Food and Drug Administration has fined the American Red Cross $16 million for violating blood safety laws and other regulations, but said no patients were harmed and the blood supply is still safe.
The FDA said on Thursday the Red Cross was fined for violating federal law during collection and processing of blood in 2008 and 2009.
Among the problems were mislabeling of blood, failing to record complete information about donors and potential air contamination.
More dioxins found in Taiwan free-range eggs
Submitted by howdydo on Fri, 06/18/2010 - 18:23A study has found that eggs from free-range chickens in industrialised Taiwan contain almost six times more cancer-causing dioxins than eggs from caged chickens.
"Because free-range hens spend most of their lives in an outside environment, they have a better chance of being exposed to contaminants from the environment," wrote researchers led by Pao-Chi Liao of the Environmental and Occupational Health department at National Cheng Kung University in Tainan, Taiwan.
Activists 'liberate' 800 bluefin tuna: Sea Shepherd
Submitted by howdydo on Fri, 06/18/2010 - 18:03Environmental activists from the Sea Shepherd group said Friday they had "liberated" some 800 bluefin tuna that had been caught by what they described as poachers and were being towed by two fishing vessels off the coast of Libya.
Five scuba divers on Thursday afternoon cut open a circular holding net filled with fish below legal weight and caught after the fishing season closed, Sea Shepherd said in a press release.
The operation was carried out 42 miles (68 kilometres) off the coast of north Africa in waters claimed by Libya, according to the release.
Facebook draws 7,000 to anti-Muslim pork sausage party in Paris
Submitted by howdydo on Fri, 06/18/2010 - 17:25A group calling for "resistance to the Islamization of France" is using Facebook to advertise an anti-Muslim party at the Arc de Triomphe in Paris Friday. Some 7,000 have RSVPed already.
French organizers of a so-called “pork sausage and booze” party in Paris – designed as a deliberate provocation against Muslims – will move it from a heavily Muslim neighborhood to the Arc de Triomphe on Friday.
The group, "Identity Block," called the new venue “Plan B,” after Paris police banned their bash this week on grounds of maintaining public order.
Candidate: BP spill could be government plot
Submitted by howdydo on Thu, 06/17/2010 - 23:19Republican congressional candidate William "Bill" Randall is suggesting that the Obama administration and BP conspired to intentionally spill oil in the Gulf of Mexico.
Randall admits that he has no evidence that what he says is true. But that is not stopping him from making the claim as he campaigns for the GOP runoff election Tuesday to determine who faces incumbent Democratic Rep. Brad Miller on the November ballot.
FCC votes to reconsider broadband regulations
Submitted by howdydo on Thu, 06/17/2010 - 23:01Federal regulators are reconsidering the rules that govern high-speed Internet connections — wading into a bitter policy dispute that could be tied up in Congress and the courts for years.
Over the objections of the agency's two Republican commissioners, the Federal Communications Commission voted Thursday to begin taking public comments on three different paths for regulating broadband. That includes a proposal by FCC Chairman Julius Genachowski, a Democrat, to define broadband access as a telecommunications service subject to "common carrier" obligations to treat all traffic equally.
Cleared forests lead to rise in malaria in Brazil
Submitted by howdydo on Thu, 06/17/2010 - 22:14Clearing forests in the Amazon helps mosquitoes thrive and can send malaria rates soaring, U.S. researchers reported on Wednesday.
They found a 48 percent increase in malaria cases in one county in Brazil after 4.2 percent of its tree cover was cleared.
Their findings, published in the journal Emerging Infectious Diseases, shows links between cutting down trees, a rise in the number of mosquitoes and infections of humans.
Ultra-Orthodox Jews protest school ruling
Submitted by howdydo on Thu, 06/17/2010 - 21:21Tens of thousands of black-clad ultra-Orthodox Jews staged mass demonstrations on Thursday to protest a Supreme Court ruling forcing the integration of a religious girls' school.
Protesters snarled traffic in Jerusalem and another large religious enclave, crowded onto balconies in city squares, and waved posters decrying the court's decision and proclaiming the supremacy of religious law.
There were a few small scuffles, and a police officer emerged from one of them holding his eye, apparently slightly injured.
Australia may become first Western democracy to restrict internet access
Submitted by howdydo on Wed, 06/16/2010 - 22:44The concept of government-backed web censorship is usually associated with nations where human rights and freedom of speech are routinely curtailed. But if Canberra's plans for a mandatory Internet filter go ahead, Australia may soon become the first Western democracy to join the ranks of Iran, China and a handful of other nations where access to the Internet is restricted by the state.
Turkey set to freeze ties with Israel: report
Submitted by howdydo on Wed, 06/16/2010 - 22:39A Turkish newspaper reported on Wednesday that Turkey would halt military cooperation with Israel and not send back the ambassador it withdrew after a deadly Israeli commando operation to stop a Gaza aid convoy.
The Turkish government has said it is working on a road map for future ties with once close ally Israel and has created a committee to assess the legal dimensions of the May 31 operation in which nine pro-Palestinian Turkish activists were killed.
BP Agrees To Suspend Quarterly Dividend
Submitted by howdydo on Wed, 06/16/2010 - 22:00The chairman of BP's board said Wednesday that the oil company will suspend its quarterly dividend as part of its commitments to compensate victims of the Gulf oil spill.
BP Chairman Carl-Henric Svanberg made the announcement Wednesday after emerging from the White House where he and other BP executives met for four hours with President Barack Obama. BP shares jumped as Svanberg spoke and were up 3.6 to $32.53 in afternoon trading in New York.
Whale poop fights climate change: study
Submitted by howdydo on Wed, 06/16/2010 - 14:53Southern Ocean sperm whales are an unexpected ally in the fight against global warming, removing the equivalent carbon emissions from 40,000 cars each year thanks to their faeces, a study found on Wednesday.
The cetaceans have been previously fingered as climate culprits because they breathe out carbon dioxide (CO2), the commonest greenhouse gas.
But this is only a part of the picture, according to the paper, published in the British journal Proceedings of the Royal Society B.
BofA to limit duration of trades with BP
Submitted by howdydo on Wed, 06/16/2010 - 04:39Bank of America Merrill Lynch (BAC.N) has ordered its traders not to enter into oil trades with BP Plc (BP.L) that extend beyond June 2011, a market source familiar with the directive told Reuters.
The order to the bank's traders came from a high-level executive and was made on Monday, according to a source familiar with it. It told traders not to engage in trade with BP for contracts beyond one year from this month.
Supply shortages slowing Gulf oil spill cleanup
Submitted by howdydo on Mon, 06/14/2010 - 23:19As countless tar balls washed ashore on a beach along Alabama's Gulf Coast, cleanup workers sat and watched because they didn't have the proper plastic covers to protect their shoes. Elsewhere, a crew using shovels and garden rakes worked for hours on a long stretch of sand that a machine could have cleaned in minutes.
Almost two months after the Deepwater Horizon oil rig exploded in the Gulf of Mexico, shortages of government-required protective gear and cleaning equipment are slowing work to remove the sticky mess and keep beaches and marshes along the Gulf Coast safe and oil-free.
Moody's cuts Greece government ratings to junk
Submitted by howdydo on Mon, 06/14/2010 - 22:33Moody's, citing risks on an EU/IMF bailout package, cut Greece's credit rating to junk status on Monday, pushing the euro down, although analysts expect little market impact from the widely expected cut.
The agency downgraded its Greek rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable. Moody's also downgraded Greece's short-term issuer rating to not-prime from Prime-1.
Iran cleric wants 'special weapons' to deter enemy
Submitted by howdydo on Mon, 06/14/2010 - 22:18The hardline spiritual mentor of Iran's president has made a rare public call for producing the "special weapons" that are a monopoly of a few nations — a veiled reference to nuclear arms.
The Associated Press on Monday obtained a copy of a book written by Ayatollah Mohammad Taqi Mesbah Yazdi in which he wrote Iran should not deprive itself of the right to produce these "special weapons."
Iran's government, as well as its clerical hierarchy, have repeatedly denied the country is seeking nuclear weapons, as alleged by the U.S. and its allies.
In bold move, Colorado alters teacher tenure rules
Submitted by howdydo on Mon, 06/14/2010 - 21:55Colorado is changing the rules for how teachers earn and keep the sweeping job protections known as tenure, linking student performance to job security despite outcry from teacher unions that have steadfastly defended the system for decades.
Many education reform advocates consider tenure to be one of the biggest obstacles to improving America's schools because it makes removing mediocre or even incompetent teachers difficult.
Afghans: US finds mineral riches in Afghanistan
Submitted by howdydo on Mon, 06/14/2010 - 21:54U.S. geologists have discovered vast mineral wealth in Afghanistan, possibly amounting to $1 trillion, President Hamid Karzai's spokesman said Monday.
Waheed Omar told reporters the findings were made by the U.S. Geological Survey under contract to the Afghan government.
"The result of the survey ... has shown that Afghanistan has mineral resources worth $1 trillion," Omar said. "This is not an overall survey of all minerals in Afghanistan. Whatever has been found in this survey is worth $1 trillion."
Civilian toll of Iranian raids in northern Iraq enrages Kurds
Submitted by howdydo on Tue, 06/08/2010 - 17:30Outrage is growing in Iraq's northern Kurdish territories over renewed Iranian air and artillery strikes against Kurdish rebels in the remote Qandil Mountains, officials and residents said.
Last week, Iran even sent ground forces about a mile into Iraqi territory, a brief incursion that Kurdish officials said elicited not a word of protest from the Iran-friendly administration of Iraqi Prime Minister Nouri al Maliki, who like Iran's rulers is a Shiite Muslim. Most Iraqi Kurds are Sunni Muslims.