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Monday, December 12, 2011 1:08 AM PST

Today's Politics - Bloomberg News Headlines - Yahoo! News: RBS was floored by ABN "gamble," poor decisions: regulator Ex-UN head says Egypt's big problems being ignored Egypt liberal calls for shift in tactics New UN climate deal struck, critics say gains modest Ivory Coast vote peaceful, opposition boycotts Villager dies in custody as China cracks down on riots Moody's: Pressure remains on euro sovereigns despite summit deal Factbox: Key political risks to watch in Pakistan Pakistani government denies talks with Taliban China workshops struggle, but tougher times ahead Major battle in Syria; shops shut by strike Insight: The day Europe lost patience with Britain Australia PM reshuffles cabinet, targets jobs South Korean coastguard "killed by Chinese fisherman" Peru's Humala tightens grip in Cabinet overhaul Dutch architects apologize for 9/11 blast look-alike design Ivory Coast vote peaceful, opposition boycotts Romney looks to bounce back after $10,000 bet gaffe Medvedev orders Russia poll inquiry, gets insults Cameron must calm UK coalition tensions over EU Cameron must calm coalition tensions over EU Obama says to keep standing up to Congress on taxes Pakistan's Zardari to rest in Dubai for 2 more weeks: report Peru's Humala picks technocrat for mining ministry France says British EU veto a "pity" Insight: The day Europe lost patience with Britain France says British EU veto a "pity" French government warns opponents on EU treaty delay One person wounded in south Lebanon by rocket Former Panama strongman Noriega heads home to prison Ivorian vote peaceful, ruling coalition set to win France points finger at Syria for Lebanon attack Australia PM poised for first cabinet reshuffle Buba eyes 45 billion euro credit line to IMF: report McConnell expects bipartisan deal on tax cut Ex-PM Villepin seeks French presidency, harms Sarkozy French government warns opponents on EU treaty delay Former Panama strongman Noriega heads home to prison Veteran rebel region leader defies Moscow in poll Major battle in Syria; shops shut by strike RBS was floored by ABN "gamble," poor decisions: regulator Sun,11 Dec 2011 10:55 PM PST Reuters - LONDON (Reuters) - Royal Bank of Scotland gambled with its purchase of Dutch bank ABN Amro and was dragged to the brink of collapse three years ago by poor management decisions and flawed regulation and supervision, a report said on Monday. The long awaited report by Britain's Financial Services Authority, running to 452 pages, criticized former UK Chancellor and Prime Minister Gordon Brown for encouraging "light touch" regulation, and RBS's weak capital and funding and its decision to buy parts of ABN Amro. ... Full Story Top Ex-UN head says Egypt's big problems being ignored Sun,11 Dec 2011 10:24 PM PST Reuters - CAIRO (Reuters) - Egypt's new politicians must shift focus from winning votes at home to securing support abroad if they are to solve pressing problems of an economy in tailspin, a looming water shortage and population explosion, a former U.N. chief said on Sunday. Boutros Boutros-Ghali, an Egyptian who was the United Nations secretary general from 1992 to 1996, said his nation's problems were being ignored by the new political class, including Islamist parties which have taken an early lead in parliamentary elections. "The problems of Egypt cannot be solved in Egypt. ... Full Story Top Egypt liberal calls for shift in tactics Sun,11 Dec 2011 10:22 PM PST Reuters - CAIRO (Reuters) - Egyptian liberals trailing Islamists in a parliamentary election must close ranks and tone down their anti-Islamist fears if they are to succeed, one of the country's most influential liberals said on Sunday. Following the uprisings that toppled Hosni Mubarak in February, Amr Hamzawy has emerged as one of the most popular political figures of the new Egypt. The 44-year-old political science professor, who was educated in Egypt and Europe, is a founder of the Egypt Freedom Party. ... Full Story Top New UN climate deal struck, critics say gains modest Sun,11 Dec 2011 10:21 PM PST Reuters - DURBAN (Reuters) - Countries from around the globe agreed on Sunday to forge a new deal forcing all the biggest polluters for the first time to limit greenhouse gas emissions, but critics said the plan was too timid to slow global warming. A package of accords agreed after marathon U.N. talks in South Africa extended the 1997 Kyoto Protocol - the only global pact enforcing carbon cuts - allowing five more years to finalise a wider pact which has so far eluded negotiators. ... Full Story Top Ivory Coast vote peaceful, opposition boycotts Sun,11 Dec 2011 10:19 PM PST Reuters - ABIDJAN (Reuters) - Ivory Coast awaited results from its first parliamentary election for a decade, with officials saying a boycott by the opposition had done little to disrupt voting in the country recovering from a crippling civil war. Election officials said they expected most of the results from Sunday's vote would be known by Tuesday, with the outcome seen strengthening the hand of President Alassane Ouattara's ruling coalition. ... Full Story Top Villager dies in custody as China cracks down on riots Sun,11 Dec 2011 10:08 PM PST Reuters - HONG KONG/BEIJING (Reuters) - A man accused of taking part in a riot over land grabs in a southern Chinese village has died in police custody, threatening to fan tension in a small pocket of export-dependent Guangdong province that has become a source of persistent unrest. The man died as riot police moved to quell a longstanding dispute in Wukan village on the coast of the booming province and economic powerhouse, where commercial and industrial development has consumed swathes of rice paddies. ... Full Story Top Moody's: Pressure remains on euro sovereigns despite summit deal Sun,11 Dec 2011 09:46 PM PST Reuters - (Reuters) - Moody's Investors Service said on Monday it still expects to review its ratings on all European Union sovereign credit in the first quarter of next year, adding that last week's agreement by European policymakers offered few new measures to resolve the region's debt crisis. Twenty-six of the 27 European Union leaders on Friday agreed to pursue stricter budget rules for the single currency area and also to have euro zone states and others provide up to 200 billion euros ($267 billion) in bilateral loans to the International Monetary Fund (IMF) to help tackle the crisis. ... Full Story Top Factbox: Key political risks to watch in Pakistan Sun,11 Dec 2011 09:42 PM PST Reuters - ISLAMABAD (Reuters) - Relations between the United States and its ally Pakistan, already heavily battered, have been pushed to their lowest point in years by a NATO attack that killed 24 Pakistani soldiers on November 26. NATO aircraft struck two military border posts in northwest Pakistan, in the worst incident of its kind since Islamabad allied itself with Washington in 2001 in the war on militancy. Relations were already strained after claims in late September by Admiral Mike Mullen, the former top U.S. military officer, that Pakistan was supporting militant attacks against Afghan and U.S. ... Full Story Top Pakistani government denies talks with Taliban Sun,11 Dec 2011 08:41 PM PST Reuters - ISLAMABAD (Reuters) - Pakistan's interior minister and prime minister have both denied the government is holding peace talks with its homegrown Taliban, according to media, saying it would do so only if the militants first disarmed and surrendered. The deputy commander of the Pakistan Taliban, who have been waging a four-year war against the government in Islamabad, said Saturday that the two sides were holding talks, a move that could further fray the U.S.-Pakistan relationship. But both Prime Minister Yusuf Raza Gilani and Interior Minister Rehman Malik denied the reports. ... Full Story Top China workshops struggle, but tougher times ahead Sun,11 Dec 2011 08:28 PM PST Reuters - BEIJING (Reuters) - A broad and bruising downturn is sweeping through China's giant manufacturing sector, ensnaring thousands of factories already fighting for survival in the face of plunging profit margins. While the misery has not yet reached levels seen in 2008 when global financial turmoil caused trade to seize up, Chinese exporters across industries are battling hard times as Europe's crisis and tight credit conditions at home pummel sales. The tough times are clear from China's trade data released this weekend, which showed exports growth in November at its most sluggish in two years. ... Full Story Top Major battle in Syria; shops shut by strike Sun,11 Dec 2011 07:51 PM PST Reuters - AMMAN (Reuters) - AMMAN, Dec 12 (Reuters) - Syrian troops and army defectors have fought one of the biggest battles in Syria's nine-month uprising while a protest strike shut businesses in a new gesture of civil disobedience, residents and activists said. Arab foreign ministers will meet on Saturday to discuss a response to Syria's conditional acceptance of an Arab peace plan aimed at ending its crackdown on pro-democracy protesters, Egypt's MENA news agency said, citing an Arab diplomat. ... Full Story Top Insight: The day Europe lost patience with Britain Sun,11 Dec 2011 07:43 PM PST Reuters - BRUSSELS (Reuters) - It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with EU founding members France and Germany and committed to binding their economies ever more tightly. There was plenty of talk of history in the making in the week before the Dec 8/9 gathering of European Union leaders - the eighth this year. ... Full Story Top Australia PM reshuffles cabinet, targets jobs Sun,11 Dec 2011 07:38 PM PST Reuters - CANBERRA (Reuters) - Australia's Prime Minister Julia Gillard reshuffled her cabinet on Monday, focusing on job creation and labor relations, as she tries to reverse plummeting voter support ahead of elections due within two years. Gillard's changes included promoting junior minister Bill Shorten to a new super ministry for jobs, prosperity and industrial relations, while other major economic, defense and foreign ministry portfolios were unchanged. "Our focus will always be jobs for Australians today and jobs tomorrow. ... Full Story Top South Korean coastguard "killed by Chinese fisherman" Sun,11 Dec 2011 06:52 PM PST Reuters - SEOUL (Reuters) - A South Korean coastguard was stabbed to death by a Chinese fisherman Monday in an operation to apprehend a Chinese vessel operating illegally near South Korean waters, a South Korean official said. Two South Koreans were stabbed in the operation in the Yellow Sea off the west coast near the border with North Korea, the coastguard said. Chinese fishing boats are frequently caught fishing in South Korean waters, sometimes leading to violent clashes with South Korean maritime police. "One officer is dead. There is another one injured. ... Full Story Top Peru's Humala tightens grip in Cabinet overhaul Sun,11 Dec 2011 06:49 PM PST Reuters - LIMA (Reuters) - Peruvian President Ollanta Humala swore in a new team of ministers on Sunday in a shake-up that could lead to harsher crackdowns on social protests but will leave the country's free-market economic model in place. Humala, who was a soldier before becoming a politician, named Oscar Valdes, a former army officer who was his instructor in the military, to be prime minister. ... Full Story Top Dutch architects apologize for 9/11 blast look-alike design Sun,11 Dec 2011 06:25 PM PST Reuters - SEOUL (Reuters) - A Dutch architectural firm has apologized for its design of twin skyscrapers in central Seoul which resemble the exploding World Trade Center towers in New York and have infuriated families of the victims of the 9/11 attacks. The blueprint for the luxury apartment buildings was released last week and shows a structure which juts out at the middle to accommodate pools, restaurants, cafes and a gym. Relatives of victims of al Qaeda's September 11, 2001, attacks on the United States have expressed outrage, according to U.S. ... Full Story Top Ivory Coast vote peaceful, opposition boycotts Sun,11 Dec 2011 05:33 PM PST Reuters - ABIDJAN (Reuters) - Ivory Coast awaited results from its first parliamentary election for a decade, with officials saying a boycott by the opposition had done little to disrupt voting in the country recovering from a crippling civil war. Election officials said they expected most of the results from Sunday's vote would be known by Tuesday, with the outcome seen strengthening the hand of President Alassane Ouattara's ruling coalition. ... Full Story Top Romney looks to bounce back after $10,000 bet gaffe Sun,11 Dec 2011 04:53 PM PST Reuters - HUDSON, New Hampshire (Reuters) - Republican Mitt Romney was back on familiar turf in New Hampshire on Sunday, looking to steady his White House campaign after a potentially damaging gaffe over a wager he offered at a candidate's debate in Iowa. Speaking to reporters after a town hall meeting, Romney made light of the incident on Saturday when he offered to bet Texas Governor Rick Perry $10,000 over what Romney wrote in his book about Massachusetts' controversial healthcare law that he helped engineer as governor. Perry did not take the bait. ... Full Story Top Medvedev orders Russia poll inquiry, gets insults Sun,11 Dec 2011 04:39 PM PST Reuters - MOSCOW (Reuters) - President Dmitry Medvedev ordered an investigation on Sunday into allegations of fraud in Russia's parliamentary election, one day after tens of thousands of protesters demanded it be annulled and rerun. Medvedev responded on his Facebook site to the protesters' complaints that the December 4 election, won by Prime Minister Vladimir Putin's United Russia, was slanted in its favor. But he did not mention their calls for an end to Putin's rule and received one insult after another on his Facebook site from people who made clear his reply was insufficient. ... Full Story Top Cameron must calm UK coalition tensions over EU Sun,11 Dec 2011 04:26 PM PST Reuters - LONDON (Reuters) - Prime Minister David Cameron will get a hero's welcome from his Conservative party but faces a backlash from his Liberal Democrat allies Monday when he explains a European Union veto that has cast Britain adrift from its continental partners. Cameron's decision not to take part in an EU treaty change aimed at tightening fiscal rules for countries using the euro has isolated Britain in the 27-nation bloc and created the biggest rift in his coalition since he took power in May 2010. ... Full Story Top Cameron must calm coalition tensions over EU Sun,11 Dec 2011 04:24 PM PST Reuters - LONDON (Reuters) - Prime Minister David Cameron will get a hero's welcome from his party but faces a backlash from his Liberal Democrat allies Monday when he explains a European Union veto that has cast Britain adrift from its continental partners. Cameron's decision not to take part in an EU treaty change aimed at tightening fiscal rules for countries using the euro has isolated Britain in the 27-nation bloc and created the biggest rift in his coalition since he took power in May 2010. ... Full Story Top Obama says to keep standing up to Congress on taxes Sun,11 Dec 2011 04:01 PM PST Reuters - WASHINGTON (Reuters) - President Barack Obama defended his leadership style on Sunday and said he would keep standing up to Congress as another stand-off over taxes and deficits brewed on Capitol Hill. In an interview on CBS' "60 Minutes," Obama suggested his wife, Michelle, had mixed feelings about their time in the White House but said he had no hesitation about seeking re-election next year, saying he wanted to finish the job of putting the U.S. economy on stronger, and fairer, footing. ... Full Story Top Pakistan's Zardari to rest in Dubai for 2 more weeks: report Sun,11 Dec 2011 03:47 PM PST Reuters - SINGAPORE, Dec 12 - Pakistan President Asif Ali Zardari will remain in Dubai for two more weeks, the country's prime minister was quoted as saying, after his rush to a hospital there triggered speculation he might resign. Zardari, 56, likely suffered a transient ischemic attack, sources said last week, which can produce stroke-like symptoms but no lasting damage to the brain. Prime Minister Yusuf Raza Gilani told the BBC in an interview published on its website on Sunday that Zardari was making rapid progress in hospital, but needed to rest for two more weeks before returning home. ... Full Story Top Peru's Humala picks technocrat for mining ministry Sun,11 Dec 2011 03:33 PM PST Reuters - LIMA (Reuters) - Peruvian President Ollanta Humala has picked Jorge Humberto Merino, who worked for the government agency that promotes foreign investment, to be his new mines and energy minister, local media reported on Sunday. Peru is a top global minerals exporter and relies on foreign investment in the mining and oil sectors to fuel its swift economic growth. Merino, an engineer, will replace Carlos Herrera, who had tussled with other members of a diverse Cabinet that Humala said on Saturday he would overhaul after only five months in office. ... Full Story Top France says British EU veto a "pity" Sun,11 Dec 2011 03:24 PM PST Reuters - PARIS (Reuters) - France said on Sunday it regretted Britain's decision to use its veto at an EU summit on Friday saying the 27-nation bloc would have been better off if British Prime Minister David Cameron had voted with the rest. "It would have been better if Britain had followed this historic movement," Finance Minister Francois Baroin told BFM television. "We regret the decision. It's a pity." At a Brussels summit on Friday, Britain vetoed a plan for a new EU treaty that would impose closer EU control over national government budgets in order to curb the bloc's debt crisis. ... Full Story Top Insight: The day Europe lost patience with Britain Sun,11 Dec 2011 03:24 PM PST Reuters - BRUSSELS (Reuters) - It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with EU founding members France and Germany and committed to binding their economies ever more tightly. There was plenty of talk of history in the making in the week before the Dec 8/9 gathering of European Union leaders - the eighth this year. ... Full Story Top France says British EU veto a "pity" Sun,11 Dec 2011 03:24 PM PST Reuters - PARIS (Reuters) - France said on Sunday it regretted Britain's decision to use its veto at an EU summit on Friday saying the 27-nation bloc would have been better off if Prime Minister David Cameron had voted with the rest. "It would have been better if Britain had followed this historic movement," Finance Minister Francois Baroin told BFM television. "We regret the decision. It's a pity." At a Brussels summit on Friday, Britain vetoed a plan for a new EU treaty that would impose closer EU control over national government budgets in order to curb the bloc's debt crisis. ... Full Story Top French government warns opponents on EU treaty delay Sun,11 Dec 2011 03:19 PM PST Reuters - PARIS (Reuters) - France's imminent election campaign could throw the newly agreed EU plan for budget policy coordination into disarray, the French budget minister said on Sunday, warning that President Nicolas Sarkozy's opponents may stall necessary legislation. "Speed is vital to restore confidence," Valerie Pecresse told Europe 1 radio. "France has to set the example. It has been at the origin of this treaty with Germany and it would be a paradox if it was blocked for three months because there is a presidential election. This is a call for national unity. ... Full Story Top One person wounded in south Lebanon by rocket Sun,11 Dec 2011 02:53 PM PST Reuters - BEIRUT (Reuters) - One person was injured in southern Lebanon Sunday when a rocket apparently fired toward Israel hit a Lebanese border village, security sources in Lebanon said. They said the rocket was fired from the Wadi al-Qaisiyeh area, about 2 km (one mile) from the frontier and landed in the village of Houla inside Lebanon. Two weeks ago Israel said several rockets were fired across the border from Lebanon, the first such incident since 2009. Lebanon's army said Israel launched four rockets in return. ... Full Story Top Former Panama strongman Noriega heads home to prison Sun,11 Dec 2011 02:53 PM PST Reuters - PANAMA CITY (Reuters) - Manuel Noriega, Panama's drug-running military dictator of the 1980s, left Paris early on Sunday, headed for a prison in his home country to serve a 20-year term for the murders of opponents during his rule. Noriega, now 77, was toppled in a U.S. invasion of Panama in 1989 and has spent the last two decades behind bars, first in Florida and then in France after being convicted for drug trafficking and money laundering during his time in power. ... Full Story Top Ivorian vote peaceful, ruling coalition set to win Sun,11 Dec 2011 02:51 PM PST Reuters - ABIDJAN (Reuters) - Ivory Coast held its first parliamentary election for a decade on Sunday, a relatively peaceful vote which was expected to strengthen President Alassane Ouattara's ruling coalition and make it easier for him to rebuild a nation crippled by war. The election was boycotted by the party of former president Laurent Gbagbo, who is now in The Hague facing war crimes charges, over allegations of unfair treatment of Gbagbo supporters. ... Full Story Top France points finger at Syria for Lebanon attack Sun,11 Dec 2011 02:47 PM PST Reuters - PARIS (Reuters) - France's Foreign Minister Alain Juppe said on Sunday Paris believed Syria was behind attacks on its troops in Lebanon earlier this week. A roadside bomb wounded five French peacekeepers in southern Lebanon on Friday, in the third attack this year on United Nations forces deployed near the frontier with Israel. "We have strong reason to believe these attacks came from there (Syria)," Juppe said on RFI radio. "We think it's most probable, but I don't have proof." France - with Britain, Germany and the United States - has been pushing for the U.N. ... Full Story Top Australia PM poised for first cabinet reshuffle Sun,11 Dec 2011 02:21 PM PST Reuters - CANBERRA (Reuters) - Australia's Prime Minister Julia Gillard is expected to unveil changes to her frontbench on Monday, focusing the government on jobs and labor relations as she tries to reverse plummeting voter support ahead of elections in two years time. In the first recasting of ruling Labor's cabinet since elections last year ushered in the first minority government in decades, Gillard will promote junior minister Bill Shorten to a new super ministry for jobs, prosperity and industrial relations, the Herald Sun newspaper said. ... Full Story Top Buba eyes 45 billion euro credit line to IMF: report Sun,11 Dec 2011 02:09 PM PST Reuters - FRANKFURT (Reuters) - The Bundesbank stands ready to boost its credit line to the International Monetary Fund to up to 45 billion euros ($60 billion) to strengthen the fund's crisis fighting capabilities, a Bundesbank board member said in an interview. "It makes complete sense in the current situation to strengthen the general capabilities of the IMF," Bundesbank Executive Board member Andreas Dombret told German news agency DPA. ... Full Story Top McConnell expects bipartisan deal on tax cut Sun,11 Dec 2011 02:02 PM PST Reuters - WASHINGTON (Reuters) - Senate Republican Leader Mitch McConnell predicted on Sunday that Congress will renew a popular payroll tax cut, but it remained unclear how lawmakers will resolve deep differences before the December 31 deadline. While he did not unveil a new deal, McConnell signaled that he and others anticipate having one soon. "We're going to reach an agreement," McConnell told "Fox News Sunday," noting there is "bipartisan support" for extending the tax cut. The 4.2 percent payroll tax that workers pay to fund the Social Security retirement system will return to 6. ... Full Story Top Ex-PM Villepin seeks French presidency, harms Sarkozy Sun,11 Dec 2011 01:56 PM PST Reuters - PARIS (Reuters) - Former French Prime Minister Dominique de Villepin said Sunday he would run for the French presidency next year as an independent candidate, a move that could draw some support away from President Nicolas Sarkozy. The 58-year-old, who was Sarkozy's main rival for leadership of the center right before the last election in 2007, is unlikely to win a large number of votes but his presence in the campaign could harm Sarkozy's chances by diluting support. Pollsters LH2 said Sunday Villepin would get about 1 percent of the vote, down from 2 percent in its November 20 poll. ... Full Story Top French government warns opponents on EU treaty delay Sun,11 Dec 2011 01:51 PM PST Reuters - PARIS (Reuters) - France's imminent election campaign could throw the newly agreed EU plan for budget policy coordination into disarray, the French budget minister said on Sunday, warning that President Nicolas Sarkozy's opponents may stall necessary legislation. "Speed is vital to restore confidence," Valerie Pecresse told Europe 1 radio. "France has to set the example. It has been at the origin of this treaty with Germany and it would be a paradox if it was blocked for three months because there is a presidential election. This is a call for national unity. ... Full Story Top Former Panama strongman Noriega heads home to prison Sun,11 Dec 2011 01:47 PM PST Reuters - PANAMA CITY (Reuters) - Manuel Noriega, Panama's ruthless drug-running military dictator of the 1980s, is to be returned home on Sunday, headed for a jungle prison to serve a 20-year term for the murders of opponents during his rule. Noriega, now 77, was toppled in a U.S. invasion of Panama in 1989 and has spent the last two decades behind bars, first in Florida and then in France after being convicted for drug trafficking and money laundering during his time in power. ... Full Story Top Veteran rebel region leader defies Moscow in poll Sun,11 Dec 2011 01:46 PM PST Reuters - TIRASPOL, Moldova (Reuters) - The veteran leader of Moldova's breakaway Transdniestria region appeared well in front after a Sunday election in which he ran for a fifth term against the wishes of his former patron Russia. But Igor Smirnov, a 70-year-old Russian who has ruled the territory of half-a-million people for 20 years, seemed likely to fall short of the 50 per cent required to avoid a second round of voting, an exit poll showed. The poll, by the Vektor agency, gave Smirnov 47.38 percent of the vote, while Moscow-backed parliamentary speaker Anatoly Kaminsky was in third place with 22. ... Full Story Top Major battle in Syria; shops shut by strike Sun,11 Dec 2011 01:09 PM PST Reuters - AMMAN (Reuters) - Army defectors fought government troops Sunday in one of the biggest battles of Syria's nine-month uprising, and a strike shut businesses in a new gesture of civil disobedience, residents and activists said. In a major international development likely to raise Western pressure on President Bashar al-Assad, France's Foreign Minister Alain Juppe said Paris believed Syria was behind attacks that wounded French peacekeepers in neighboring Lebanon Friday. ... Full Story Top

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