Saturday, February 2, 2013

Teary Australia PM's election campaign off to rocky start

PERTH, Australia (Reuters) - Australian Prime Minister Julia Gillard's government was rocked by the surprise resignation of two of her most senior cabinet ministers on Saturday, just four days after she stunned voters by calling a national election in eight months' time.

Close ally Nicola Roxon quit as Attorney-General along with Chris Evans, who as Senate leader is the third in line to the prime ministership, citing demands of the job and family reasons for their decisions.

Australian media described the resignations as a severe blow for the ruling Labor Party, saying they undermined Gillard's message of stability and a lack of confidence in ability to win a third term on September 14.

Gillard put on a brave face at a news conference in Canberra, saying she had known of the impending resignations for some time.

"We will be able to present the Australian people with a rejuvenated team as we move into the parliamentary year of 2013," a teary Gillard said.

Earlier this week Gillard broke with convention and surprised voters by announcing a far-off election date, an unusual move that she said was designed to end political instability.

While the resignations will not impact the minority hold that Gillard's Labor government has on power, they will add to the uncertainty surrounding her government which relies on a handful of independents and Greens to command a one-seat majority.

The Sydney Morning Herald wrote on its website that the surprise departure of two of the government's most senior figures was "a very bad look".

Opinion polls show Tony Abbott's opposition Liberal-National party well ahead of the government and Gillard would be swept from office, losing up to 18 seats, if an election were held now.

The election will decide whether Australia keeps its controversial carbon tax, and a 30 percent tax on coal and iron ore mining profits, which Abbott has promised to scrap it if he wins power.

Roxon, Australia's first female Attorney-General, notably took on the big tobacco companies with plain packaging legislation last year and won.

The law that states cigarette and tobacco products must be sold in plain olive green packets with graphic health warnings is being closely watched around the world and could have a major effect if adopted as a precedent in other countries.

(Editing by Jeremy Laurence)

Source: http://news.yahoo.com/teary-australia-pms-election-campaign-off-rocky-start-052410023.html

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Friday, February 1, 2013

Syria warns of 'surprise' response to Israel attack

BEIRUT/AMMAN (Reuters) - Syria warned on Thursday of a possible "surprise" response to Israel's attack on its territory and Russia condemned the air strike as an unprovoked violation of international law.

Damascus could take "a surprise decision to respond to the aggression of the Israeli warplanes", Syrian ambassador to Lebanon Ali Abdul-Karim Ali said a day after Israel struck against Syria.

"Syria is engaged in defending its sovereignty and its land," Ali told a website of the Lebanese militant group Hezbollah. Syria and Israel have fought several wars and in 2007 Israeli jets bombed a suspected Syrian nuclear site, without a military response from Damascus.

Diplomats, Syrian rebels and regional security sources said on Wednesday that Israeli jets had bombed a convoy near the Lebanese border, apparently hitting weapons destined for Hezbollah. Syria denied the reports, saying the target had been a military research center northwest of Damascus.

Hezbollah, which has supported Syrian President Bashar al-Assad as he battles an armed uprising in which 60,000 people have been killed, said Israel was trying to thwart Arab military power and vowed to stand by its ally.

"Hezbollah expresses its full solidarity with Syria's leadership, army and people," said the group which fought an inconclusive 34-day war with Israel in 2006.

Israel has remained silent on the attack and there has been little reaction from its Western backers, but Syria's allies in Moscow and Tehran were quick to denounce the strike.

Russia, which has blocked Western efforts to put pressure on Syria at the United Nations, said that any Israeli air strike would amount to unacceptable military interference.

"If this information is confirmed, then we are dealing with unprovoked attacks on targets on the territory of a sovereign country, which blatantly violates the U.N. Charter and is unacceptable, no matter the motives to justify it," the Foreign Ministry said in a statement.

Iranian deputy foreign minister Hossein Amir Abdullahian said the attack "demonstrates the shared goals of terrorists and the Zionist regime", Fars news agency reported. Assad portrays the rebels fighting him as foreign-backed, Islamist terrorists, with the same agenda as Israel.

"It is necessary for the sides which take tough stances on Syria to now take serious steps and decisive stances against this aggression by Tel Aviv and uphold criteria for security in the region," Abdullahian said.

An aide to Supreme Leader Ayatollah Ali Khamenei said on Saturday that Iran would consider any attack on Syria as an attack on itself, but Abdullahian made no mention of retaliation.

Hezbollah said the attack showed that the conflict in Syria was part of a scheme "to destroy Syria and its army and foil its pivotal role in the resistance front (against Israel)".

BLASTS SHOOK DISTRICT

Details of Wednesday's strike remain sketchy and, in parts, contradictory. Syria said Israeli warplanes, flying low to avoid detection by radar, crossed into its airspace from Lebanon and struck the Jamraya military research centre.

But the diplomats and rebels said the jets hit a weapons convoy heading from Syria to Lebanon, apparently destined for Assad's ally Hezbollah, and the rebels said they - not Israel - hit Jamraya with mortars.

The force of the dawn attack shook the ground, waking nearby residents from their slumber with up to a dozen blasts, two sources in the area said.

"We were sleeping. Then we started hearing rockets hitting the complex and the ground started shaking and we ran into the basement," said a woman who lives adjacent to the Jamraya site.

The resident, who declined to be named because of the sensitivity over Israel's reported strike on Wednesday morning, said she could not tell whether the explosions which woke her were the result of an aerial strike.

Another source who has a relative working inside Jamraya reported that a building inside the complex had been cordoned off after the attack and that flames were seen rising from the area after the attack.

"It appears that there were about a dozen rockets that appeared to hit one building in the complex," the source, who also asked not to be identified, told Reuters. "The facility is closed today."

Israeli newspapers quoted foreign media on Thursday for reports on the attack. Journalists in Israel are required to submit articles on security and military issues to the censor, which has the power to block any publication of material it deems could compromise state security.

Syrian state television said two people were killed in the raid on Jamraya, which lies in the 25-km (15-mile) strip between Damascus and the Lebanese border. It described it as a scientific research centre "aimed at raising the level of resistance and self-defense".

Diplomatic sources from three countries told Reuters that chemical weapons were believed to be stored at Jamraya, and that it was possible that the convoy was near the large site when it came under attack. However, there was no suggestion that the vehicles themselves had been carrying chemical weapons.

"The target was a truck loaded with weapons, heading from Syria to Lebanon," said one Western diplomat, echoing others who said the convoy's load may have included anti-aircraft missiles or long-range rockets.

The raid followed warnings from Israel that it was ready to act to prevent the revolt against Assad leading to Syria's chemical weapons and modern rockets reaching either his Hezbollah allies or his Islamist enemies.

A regional security source said Israel's target was weaponry given by Assad's military to fellow Iranian ally Hezbollah.

"This episode boils down to a warning by Israel to Syria and Hezbollah not to engage in the transfer of sensitive weapons," the source said. "Assad knows his survival depends on his military capabilities and he would not want those capabilities neutralized by Israel - so the message is this kind of transfer is simply not worth it, neither for him nor Hezbollah."

Such a strike or strikes would fit Israel's policy of pre-emptive covert and overt action to curb Hezbollah and does not necessarily indicate a major escalation of the war in Syria. It does, however, indicate how the erosion of the Assad family's rule after 42 years is seen by Israel as posing a threat.

Israel this week echoed concerns in the United States about Syrian chemical weapons, but its officials say a more immediate worry is that the civil war could see weapons that are capable of denting its massive superiority in airpower and tanks reaching Hezbollah; the group fought Israel in 2006 and remains a more pressing threat than its Syrian and Iranian sponsors.

(Additional reporting by Mariam Karouny and Oliver Holmes in Beirut, Gabriela Baczynska in Moscow and Marcus George in Dubai; editing by David Stamp)

Source: http://news.yahoo.com/syria-warns-surprise-response-israel-attack-144911693.html

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Swimming: Olympic legend Phelps signs golf equipment deal

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PFT: Suggs would welcome gay teammate

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Brian Stropolo lost his gig as an NFL replacement ref when Facebook pictures of him in Saints gear emerged just before he was supposed to officiate a Saints game.

But the pictures were far from a secret, and were even discovered by Ravens coach John Harbaugh during the preseason.

In a detailed and touching story by Jim Kleinpeter of the New Orleans Times-Picayune which centers on Stropolo?s personal struggle, Stropolo mentioned that Harbaugh brought up the pictures prior to a preseason game.

When he introduced himself to Harbaugh prior to their game against the Jaguars, Stropolo told him he had seen the photos after Googling his name.

?You?re a Saints fan,? Harbaugh said, as relayed by Stropolo.

?I said, ?I?m from New Orleans but I?m neutral. I?m from the NFL,?? Stropolo said, insisting he?d call the game fairly.

He said Harbaugh replied by saying: ?Oh no, I?m just messing with you.?

Stropolo also said he felt like he was hung out to dry by the NFL, after being part of the crew that officiated the opener, and was ranked highest in the preseason by the league.

?When we came off the field [NFL executive vice president for football operations] Ray Anderson was in the end zone high-fiving us with the biggest smile on his face,? Stropolo said. ?We walked in the locker room and Roger Goodell was standing there by himself and shook every one of our hands.

?He said, ?Guys let me tell you something, that was amazing. Y?all looked like the real deal. Y?all set the bar so high I hope the rest of the crews can come up to do what y?all did.? All of them [NFL officials] were smiling.?

The league?s reaction turned dramatically when the photos were revealed prior to the Saints-Panthers game he was supposed to call, but was removed the day of the game.

Source: http://profootballtalk.nbcsports.com/2013/01/31/terrell-suggs-says-ravens-would-welcome-a-gay-teammate/related/

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Deutsche Bank posts steep Q4 loss of $2.9 billion

FRANKFURT, Germany (AP) ? Reducing the value of assets and lawsuit expenses pushed Deutsche Bank into a big and unexpected fourth quarter loss of ?2.15 billion ($2.91 billion).

The net loss for the October-December period compared to a ?186 million profit a year ago. Analysts surveyed by FactSet expected a bare profit of ?62 million.

Deutsche Bank is reshaping its business to meet new regulatory requirements for banks to keep larger financial buffers against losses in the wake of the 2007 financial crisis.

Meeting the new requirements means dropping some risky investments and assets. To do that, the bank took accounting losses of ?1.9 billion for the fallen value of businesses it had acquired before 2003, and for risky assets and investments that it is in the process of selling off.

Expenses for litigation the bank is facing came to ?1 billion. The bank faces lawsuits and investigations along with other big banks over the manipulation of the London Interbank Offered Rate interest benchmark in past years. The rate is used to price trillions of dollars in global contracts.

Co-CEOs Juergen Fitschen and Anshu Jain, who took over from Josef Ackermann last year, said the performance of the bank's core business was otherwise strong, and management recommended an unchanged dividend to shareholders of 75 euro cents a share.

They said the losses came from "the most comprehensive reconfiguration of Deutsche Bank in recent times."

Jain said that the bank's outlook for 2013 is better than it was at the same time in 2012, with the U.S. economy recovering and an easing of financial market turmoil from the euro currency union's drawn-out crisis over too much government debt in some countries.

He warned however that the bank's restructuring was "a journey that will take years, not months."

Like all global banks, Deutsche Bank is being pushed from an international effort, known as Basel III, to hold more capital as a buffer against losses. Basel III is a response to the financial crisis that began in 2007 when banks reported big losses on mortgage-backed securities in the United States and then worsened with the collapse of U.S. investment bank Lehman Brothers.

Building larger capital buffers can mean either raising capital by selling new shares, or by exiting risky investments and holdings. The riskier an investment, loan or security is considered, the more capital must be held to protect against losses on it.

Deutsche Bank has put many of these assets in a separate unit which will manage their disposal.

Jain said the bank's efforts during the year at selling off or writing down risky investments was the equivalent of selling ?8 billion in new shares. Doing it by disposing of risky assets means that the bank avoided diluting existing shareholders' investments through the issuance of new shares.

By doing that the bank accelerated its progress toward meeting the Basel III goals, and narrowed the gap with competing banks that have been making faster progress than Deutsche Bank. The bank reached a Core Tier 1 capital ratio ? the Basel III standard ? of 8.0 percent of its loans, investments and other risky assets as of Dec. 31, 2012. That is 0.8 percentage point ahead of its goal. Basel III will eventually require the bank to have a 9.5 percent capital ratio by 2019.

Despite its reverse in the fourth quarter, the bank did post a net profit for the full-year of ?665 million, though that was way down on 2011's ?4.32 billion. On the revenue front, Deutsche Bank fared better. In the fourth quarter, revenue rose 14 percent to ?7.9 billion from ?6.9 billion. Full year revenue rose to ?33.74 billion from ?33.22 billion.

The company said last month that it would face reductions to earnings for the fallen value of businesses and assets, but did not say how big the accounting loss would be. Deutsche Bank's share price was up 1.1 percent in late morning trading at ?37.56.

Source: http://news.yahoo.com/deutsche-bank-posts-steep-q4-loss-2-9-081825033--finance.html

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Black ex-coaches say NFL's Rooney Rule is broken

NEW ORLEANS (AP) ? Three black former NFL head coaches say the league needs to rethink its Rooney Rule for promoting minority hiring after 15 top vacancies ? eight head coaching jobs and seven general manager positions ? were all filled by white candidates since the regular season ended a month ago.

"I know the concept is good and something we need to do," said Tony Dungy, who was with the Indianapolis Colts during the 2006 season when he became the first black coach to win a Super Bowl. "Obviously, it's not working the way it should."

The Rooney Rule, implemented in 2003, was named for Pittsburgh Steelers chairman Dan Rooney, who steadfastly pushed the league to require every team to interview at least one minority candidate every time there is a coaching or general manager opening.

Before the rule went into effect, the NFL had had only six minority head coaches in more than 80 years. Since it has been in place, 12 have been hired.

But none were hired this year to replace the two black coaches who were fired ? Romeo Crennel in Kansas City and Lovie Smith in Chicago ? and the one fired black GM, Rod Graves in Arizona.

Herm Edwards, former coach of the New York Jets and Kansas City Chiefs and now an ESPN analyst, has called for not only revising the rule but perhaps even changing its name.

"When you use the Rooney Rule and not correctly, you put a little bit of a bad mark on Mr. Rooney's name, and that is not good," Edwards said Wednesday. "If it keeps going this way, we might need to take his name off the rule. It is not being used in the right manner that Mr. Rooney meant it to be."

Robert Gulliver, the NFL's executive vice president of human resources, said that the hiring results were "disappointing" and that he expects to make revisions in the rule.

The Fritz Pollard Alliance, a group of minority coaches and front-office, scouting and game-day NFL officials, wants the Rooney Rule expanded to apply to coordinators, assistant head coaches and club president positions.

Unlike Dungy and Edwards, Jim Caldwell is still coaching, albeit as an assistant. Not only that, his team, the Baltimore Ravens, will play the San Francisco 49ers in Sunday's Super Bowl. But he wasn't even invited to interview for one of the eight vacant coaching jobs, though having a team in the playoffs can be a hindrance to such opportunities.

Fired as the Colts' coach following the 2011 season, Caldwell joined the Ravens as quarterbacks coach. When head coach John Harbaugh fired offensive coordinator Cam Cameron in December, Caldwell was promoted. With his guidance, Baltimore's offense responded.

Caldwell is no stranger to the Super Bowl, having led the Colts there three years ago after replacing the retired Dungy. It was only after Peyton Manning was sidelined for the 2011 season that Caldwell was fired.

"It has been a great rule and it has worked in the past," he said. "Just like anything else, you have to, after a certain period of time, revisit it and take a look and see if it needs a little tweaking. I think it does in this particular case."

Caldwell added: "That's one of the reasons that the Rooney Rule was put in place, because you're trying to avoid those situations, if possible. We're at that stage where guys like Lovie Smith, who didn't get an opportunity, who had won and been very successful previously ... obviously, there's some concern there, and that's why I think the rule is going to be revisited."

Dungy said he believes the entire system is broken. He cited 21 head coaching jobs changing in a three-year span, which he said indicates owners are making the wrong hires regardless of race.

Edwards said he wonders whether minority candidates get interviewed only to satisfy the rule, even though they have no chance of getting the job. He and Dungy noted that the last black head coach hiring ? other than coaches promoted from within, like Leslie Frazier, Raheem Morris, Mike Singletary, Hue Jackson and Crennel ? was Mike Tomlin by Pittsburgh, in 2007.

There are currently four minority head coaches: Tomlin, Frazier in Minnesota, Marvin Lewis in Cincinnati and Ron Rivera in Carolina. Minority general managers include Baltimore's Ozzie Newsome, Detroit's Martin Mayhew, Houston's Rick Smith, the New York Giants' Jerry Reese and Oakland's Reggie McKenzie.

"I am not saying you have to hire a minority candidate. No one is saying that," Edwards said. "I am saying you can't be blinded. It can't be, 'Who is the guy to interview to get this out of the way?'"

"The problem I have is you don't really abide by the Rooney Rule the correct way," he said.

Source: http://news.yahoo.com/black-ex-coaches-nfls-rooney-rule-broken-232659868--nfl.html

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Jobless claims rose in latest week

35 min.

The number of Americans filing new claims for unemployment benefits bounced off five-year lows last week, pulling them back to levels consistent with modest job growth.?

Initial claims for state unemployment benefits increased 38,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday. The prior week's claims figure was unrevised.?

Economists polled by Reuters had expected claims to increase to 350,000.?

Claims have been very volatile this month, dropping sharply in the week ended January 12 and maintaining the trend in the following week. That was largely because the model used by the department to smooth out the seasonal variations has been unusually generous during the first three weeks of January.?

The volatility in the so-called seasonal factors has to do with the timing of holidays and when the weekends. The January calendar this year is aligned to 2008 and claims have generally followed a similar pattern.?

The four-week moving average for new claims, a better measure of labor market trends, gained 250 to 352,000, suggesting a steady improvement in labor market conditions.?

A Labor Department analyst said the seasonal factor had anticipated claims would drop 24.8 percent last week. Unadjusted claims, however, only declined 16.1 percent. As a result, the seasonally adjusted claims increased last week.?

He said no states were estimated and there was nothing unusual in the state-level data.?

The claims data has no bearing on January's employment report, which is scheduled for release on Friday, as it falls outside the survey period.?

Employers are expected to have added 160,000 jobs to their payrolls after an increase of 155,000 in December. The unemployment rate is seen holding steady at 7.8 percent.?

The employment report could confirm that the economic recovery remains intact after output unexpectedly contracted in the fourth quarter. The drag largely came from temporary factors, which were expected to lift this quarter.?

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 22,000 to 3.20 million in the week ended January 19.?

The four-week moving average of so-called continuing claims was the lowest since July 2008.?

Copyright 2013 Thomson Reuters.

Source: http://www.nbcnews.com/business/economywatch/jobless-claims-rose-latest-week-still-point-modest-job-growth-1B8192610

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