The “fiscal cliff” nears, and judging from the rhetoric coming from congressional Republicans and the White House of late, a deal is not near. (House Speaker John Boehner declared “stalemate” late last week.)
Of course, like a procrastinating college student writing an end-of-semester term paper, Congress tends to do its best work with a deadline looming, so veteran Capitol Hill watchers insist that the possibility of a deal remains intact — despite the appearance to the contrary.
PARIS: A French minister cast doubt Sunday on whether the world's top steelmaker ArcelorMittal would keep its end of the bargain after a compromise deal on a key plant that Paris had threatened to nationalise.
The dispute over the closure of blast furnaces at the Florange plant risked damaging France's image among investors, after a virulent attack by a minister on the company owned by Indian-born steel tycoon Lakshmi Mittal.
"There has been an agreement but there is no confidence," French Ecology Minister Delphine Batho told the iTele network.
"Mittal has never kept his promises in the past," she said. "We are absolutely mobilised and the arm-wrestling with Mittal will continue to ensure that the pledges are respected."
Unions also echoed her fears, while Prime Minister Jean-Marc Ayrault defended the compromise deal.
"Our negotiations with Mittal had been bitter and difficult because we refused vague statements and wanted unconditional and specific commitments," Ayrault told the regional daily Le Republicain Lorrain.
The head of the French employers federation Medef, Laurence Parisot, also hailed the accord, saying it was "very clear: there is no job loss".
She added, however, that the doubts regarding Mittal's good faith were "dramatic", as union representatives voiced their concerns.
"The government's decision has created a lot of disappointment and left a bitter taste," said Jean-Claude Mailly, secretary general of Force Ouvriere, one of France's top three unions.
Mailly told the weekly Journal du Dimanche that he was "very sceptical" about Mittal's promises.
"He had (earlier) promised 320 million for Florange but we never saw the cash," he said.
"We have the feeling we have once again been betrayed," said Edouard Martin, a spokesman for the CFDT union at the Florange plant. "We don't trust Mittal at all."
The unions are due to meet Ayrault on Wednesday.
Ayrault announced a deal Friday in which he said ArcelorMittal had committed to invest at least 180 million euros ($234 million) over five years at the Florange site in northeastern France.
The government and the steelmaker had been waging high-stakes brinkmanship for weeks over the fate of two blast furnaces at the plant.
ArcelorMittal wanted to shut them for good because of a slump in demand for low-end steel products.
It had given the government until December 1 to find a buyer for the blast furnaces after which it would begin laying off around 630 employees.
The government responded by threatening to nationalise the entire site, which contains facilities to produce higher-end products that ArcelorMittal wanted to keep. Paris said it could not find a buyer for just the furnaces.
Under Friday's deal, the two blast furnaces ArcelorMittal had closed would be left intact until EU financing was confirmed for an existing carbon-capture project, while ArcelorMittal agreed not to proceed with forced job cuts.
A decision on funding the project will be taken on December 20, a week after it is examined by the member states, a top European source told AFP in Brussels.
The dispute had left President Francois Hollande's government caught between a pledge to protect jobs and the need to improve industrial competitiveness in the face of rising unemployment and stagnant growth.
It also came at a difficult time for ArcelorMittal. The company is saddled with a debt mountain that is expected to rise to $22 billion by the end of the year, with Moody's recently downgrading its credit rating to junk status.
- AFP/fa
ANI Dec 1, 2012, 03.28PM IST
NEW DELHI: India's main opposition Bharatiya Janata Party (BJP) today said retail reform is a step taken by the Congress led-federal government to safeguard the interests of the international market mafias at the cost of national interest.
BJP vice president Mukhtar Abbas Naqvi said on Saturday that voting inside the parliament would decide as to who is in favour of national interest and who is working for international interests.
"The government feels that their responsibility is to safeguard the interest of international market mafias instead of national interest and for saving the interest of international market mafias, the government is ready to compromise with national interests. Now, the parliament will decide as to who is in support of international market mafias and who are supporting national interests," said Naqvi.
The government's decision to allow foreign supermarket chains such as Wal-Mart had triggered protest not only from opposition parties but also from some of its allies.
BJP had sought debate on the issue of allowing Foreign Direct Investment (FDI) in the retail sector, under the rule that entails voting after discussions.
Meanwhile, Minister in the Prime Minister Office (PMO), V Narayanaswamy said the government would answer all the queries raised by the opposition parties in the parliament and will explain the benefits of allowing FDI in retail sector.
The lower house of parliament has set December 04 and 05 as the date to vote and debate on FDI. The dates for the upper house are yet to be decided.
Narayanaswamy said the government is confident of becoming victorious in the debate.
The death of Kansas City Chiefs linebacker Jovan Belcher, the latest in a string of tragic NFL suicides, has left the player's teammates, coaches, family and friends wondering what could have led a man described as generous and caring to murder his girlfriend -- the mother of his 3-month-old daughter -- and then kill himself.
Kansas City police say Belcher, 25, shot and killed his girlfriend Saturday morning before going to the team stadium and and committing suicide by shooting himself in the head as he was talking to coaches.
"When the officers arrived, when they were pulling up, they actually observed a black male who had a gun to his head and he was talking to a couple of coaches out in the parking lot," Kansas City Police spokesman Darin Snapp told ABC News Radio. "As officers pulled up, and began to park, that's when they heard the gunshot and it appears the individual took his own life."
It's not yet clear what prompted Belcher's actions, but his suicide follows those of former NFL players Junior Seau, 43, and Dave Duerson, 50, both of whom died of self-inflicted gunshot wounds to the chest in the last two years.
The suicides of Seau, Duerson and a number of other NFL players have been blamed on concussions racked up from playing the violent sport, and a condition called chronic traumatic encephalopathy, or CTE, but that may not be the case for Belcher.
Chiefs chairman Clark Hunt said today that Belcher was "a player who had not had a long concussion history," even though he was a three-time all-America wrestler and a star on the football team at his West Babylon, N.Y., high school.
Seau's and Duerson's brains are both being studied at Boston University's Center for the Study of Traumatic Encephalopathy, where researchers have already learned that Duerson had CTE, which may have led to his suicide.
CTE is a progressive, degenerative disease found in people who have had brain trauma from repeated blows to the head, according to the Center. It includes brain tissue degeneration and a buildup of an abnormal protein called tao, resulting in symptoms including confusion, aggression, and depression. Ultimately, CTE results in dementia.
In 2006, former Pittsburgh Steelers player Terry Long killed himself by drinking antifreeze, and former Philadelphia Eagles player Andre Waters shot himself in the head. Both of them suffered from CTE.
Researchers at Boston University found evidence of CTE in 12 of the 13 professional football players' brains they received between 2008 and 2010, according to the university. CTE can also be found in hockey players, wrestlers, and boxers.
"Football is entertainment in which the audience is expected to delight in gladiatorial action that a growing portion of the audience knows may cause the players degenerative brain disease," ABC News' George Will wrote in a Washington Post column published Aug. 3 just before he appeared on "This Week with George Stephanopoulos."
Will cited Seau and Duerson in his column, both of whom committed suicide after 2010, adding that 62-year-old former NFL safety Ray Easterling committed suicide in April 2012. Esterling's autopsy revealed that he had dementia and depression brought on by CTE.
Photograph by Hugh Gentry, Reuters
A spectacular natural phenomenon was on display early this week as lava from a vent in Hawaii's Kilauea volcano flowed into the ocean, sending up plumes of steam as it made contact with the waves.
Though lava can still be viewed from Kalapana near the Big Island's Hawai'i Volcanoes National Park, ocean entry is no longer occurring, according to the National Park Service.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
The lava traveled 7 miles (11 kilometers) from Kilauea’s Pu'u O'o vent to the ocean. When lava reaches the water, it cools and hardens, forming a lava delta that can be dangerous to nearby onlookers, according to Reuters.
The news service reported that no communities on the Big Island were threatened by the lava flow.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
A burst of volcanic activity erupts from Kilauea’s crater in Hawai’i Volcanoes National Park on November 27.
The volcano has been erupting continuously for nearly 30 years. No major damage has been suffered by a town since 1986, according to Reuters.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
“Ocean entries are beautiful but dangerous,” said Janet Babb, spokeswoman for the U.S. Geological Survey's Hawaiian Volcano Observatory, in a statement reported by Reuters. She warned that the steam could be more hazardous than it appears.
Published November 30, 2012
Photograph by Matt Northam, My Shot
A plume of smoke billows where lava from Kilauea meets the sea in this aerial photo taken November 27.
Published November 30, 2012
Photograph by Peter Vancoillie, Your Shot
Published November 30, 2012
Adults in Washington state will be able to smoke marijuana legally when it is officially decriminalized Thursday, even though the Justice Department has offered no guidance on the conflict with federal drug laws.
Prosecutors throughout the state have begun dismissing hundreds of misdemeanor marijuana cases, according to authorities there, and state and local police are being retrained to arrest drivers who are high and allow adults to light up in their homes.
MADRID: Lionel Messi scored twice as Barcelona beat Athletic Bilbao 5-1 to set a new record start to a La Liga season and open a 14-point gap on bitter rivals Real Madrid who later face a crunch derby with in-form Atletico.
Gerard Pique put the Catalan side ahead after 22 minutes followed quickly by Messi's first, which came off defender Fernando Amorebieta on the line, before Adriano Correia hit the third on the point of half-time.
Cesc Fabregas then added to the deluge of goals and Ibai Gomez got a consolation before Messi struck again.
Barca have now put together 13 wins and a draw from their first 14 matches to beat the previous best start in the Spanish top flight by Real Madrid in the 1991-92 season.
Messi also is now just one goal off Gerd Mueller's record of 85 goals in a calendar year for Bayern Munich and Germany in 1972.
Barcelona's injury problems at the back have eased so that coach Tito Vilanova was able to rest Carles Puyol with Javier Mascherano playing alongside Pique, but Dani Alves was missing and so Adriano came in at right back.
The home side began at a high tempo but while they pushed Athletic back the visitors kept faith with the coach Marcelo Bielsa's attacking philosophy as they looked to bring the ball out from defence.
Barca had their first sight of goal with a low drive from Andres Iniesta after 12 minutes which keeper Gorka Iraizoz saved comfortably.
They got their breakthrough after a spell of pressure.
Athletic failed to clear their lines from a corner and although Iraizoz repelled Fabregas' shot, Pique pounced on the rebound to knock it home.
Minutes later and Barca doubled their lead due in part to slack defending which has plagued Athletic's season and one of the reasons why they appear far short of the team which reached last season's Europa League and King's Cup finals.
Fernando Amorebieta failed to keep tight to Messi who through on goal slipped the ball past the keeper and a despairing dive from the defender only served to help the ball over the line.
The Barca players were queuing up to score the third before the break with Fabregas having a shot saved and Messi hitting the post before Adriano burst in from the right and fired a Fabregas pass into the roof of the net.
There was no let up after the restart and Iraizoz did well to block Messi but could do nothing to stop Fabregas who fired home an Iniesta pass inside the area.
Barca were guilty of easing off as Gomez pulled a goal back but Messi had the final say with his second.
Meanwhile, Mauricio Pellegrino was sacked as manager of Valencia following his side's 5-2 defeat at home to Real Sociedad.
The game swung on the first half dismissal of Jonas Goncalves with Valencia ahead through Roberto Soldado.
Alberto De la Bella equalised before the break and further goals came from Mikel Gonzalez, Diego Ifran, Imanol Agirretxe and Carlos Vela from the penalty spot while Soldado also got a second.
Earlier, an Alberto Lopo header saw fourth-placed Malaga lose 1-0 away to Getafe.
- AFP/fa
BJP vice president Mukhtar Abbas Naqvi said on Saturday that voting inside the parliament would decide as to who is in favour of national interest and who is working for international interests.
"The government feels that their responsibility is to safeguard the interest of international market mafias instead of national interest and for saving the interest of international market mafias, the government is ready to compromise with national interests. Now, the parliament will decide as to who is in support of international market mafias and who are supporting national interests," said Naqvi.
The government's decision to allow foreign supermarket chains such as Wal-Mart had triggered protest not only from opposition parties but also from some of its allies.
BJP had sought debate on the issue of allowing Foreign Direct Investment (FDI) in the retail sector, under the rule that entails voting after discussions.
Meanwhile, Minister in the Prime Minister Office (PMO), V Narayanaswamy said the government would answer all the queries raised by the opposition parties in the parliament and will explain the benefits of allowing FDI in retail sector.
The lower house of parliament has set December 04 and 05 as the date to vote and debate on FDI. The dates for the upper house are yet to be decided.
Narayanaswamy said the government is confident of becoming victorious in the debate.
Photograph by Hugh Gentry, Reuters
A spectacular natural phenomenon was on display early this week as lava from a vent in Hawaii's Kilauea volcano flowed into the ocean, sending up plumes of steam as it made contact with the waves.
Though lava can still be viewed from Kalapana near the Big Island's Hawai'i Volcanoes National Park, ocean entry is no longer occurring, according to the National Park Service.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
The lava traveled 7 miles (11 kilometers) from Kilauea’s Pu'u O'o vent to the ocean. When lava reaches the water, it cools and hardens, forming a lava delta that can be dangerous to nearby onlookers, according to Reuters.
The news service reported that no communities on the Big Island were threatened by the lava flow.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
A burst of volcanic activity erupts from Kilauea’s crater in Hawai’i Volcanoes National Park on November 27.
The volcano has been erupting continuously for nearly 30 years. No major damage has been suffered by a town since 1986, according to Reuters.
Published November 30, 2012
Photograph by Hugh Gentry, Reuters
“Ocean entries are beautiful but dangerous,” said Janet Babb, spokeswoman for the U.S. Geological Survey's Hawaiian Volcano Observatory, in a statement reported by Reuters. She warned that the steam could be more hazardous than it appears.
Published November 30, 2012
Photograph by Matt Northam, My Shot
A plume of smoke billows where lava from Kilauea meets the sea in this aerial photo taken November 27.
Published November 30, 2012
Photograph by Peter Vancoillie, Your Shot
Published November 30, 2012
NEW YORK: Oil prices turned higher in late trade Friday to end with modest gains ahead of the weekend despite growing worries over deficit negotiations in Washington.
In New York, West Texas Intermediate crude for January delivery added 84 cents to $88.91 a barrel.
On the London market, the Brent North Sea contract for January gained 47 cents to $111.23 a barrel.
Traders said there was little news to explain the higher price; the rising euro, which topped $1.30, was one likely contributor to buying.
But the US fiscal cliff talks, which could see the world's largest economy forced into recession next year if Democrats and Republicans cannot agree on a deficit-cutting plan, continued to overshadow trade.
Politicians on both sides signalled Friday that things were not going very well in the talks, one month before the deadline.
"Crude oil prices consolidated within the recent range... due to the mixed signals from the US about the fiscal cliff program and the ongoing uncertainty about the eurozone's economic conditions," said Sucden Financial Research analyst Myrto Sokou.
In Europe, official data published Friday showed unemployment in the eurozone hit a record high in October, another drag on growth in the region.
In Lagos, ExxonMobil's Nigeria chief warned that Nigerian oil production will fall by 40 percent by 2020 if the country goes ahead with proposed increases in taxes and royalties.
The proposals are part of a planned sweeping overhaul of Nigeria's oil industry that has been delayed for years. It would also include a restructuring of state oil firm NNPC.
Mark Ward said the current legislation included fiscal terms that were too harsh and would block investment.
"It would be good to have a good (law) passed so there is clarity and there is certainty on the investment climate, the fiscal terms as well as the restructuring," Ward told a gathering of industry figures.
"However, if what we see today is passed without significant changes, it will cause just the opposite: investment will dry up."
-AFP/ac
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