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Friday, March 30, 2012 12:02 AM PDT

Today's Politics - Bloomberg News Headlines - Yahoo! News: U.S. extradition treaty needs overhaul - MPs Labour loses seat in by-election UN, AU call for urgent summit between Bashir and Kiir Sudan wants to live peacefully with S.Sudan, Bashir says Candidate warns Egypt Islamists against split vote Mali neighbours threaten border closure Gaddafi family says Italy asset seizure illegal Graft, corruption found in Morocco public sector Japan government to submit tax hike plan, heads into political showdown Public information restricted in case of slain teen Insight: Obama's North Korean leap of faith turns to ashes U.S. drone strike kills 4 militants in North-Western Pakistan Dozens of Taliban killed in fighting in west Afghanistan Indonesia lawmakers vote on fuel hike after protests Kurds struggle for recognition in Syrian revolt No clear way to court for Syria war crimes suspects Lawyers tested in court over anti-terrorism act Japan orders to intercept North Korea missile if it poses threat Senate confirms top bank regulators Pentagon says F-35 fighter delayed, costs rise 4.3 percent North Korea test fires short-range missiles: reports U.S. may accept less stringent controls for Taliban detainees U.S. nears sanctions phase in Airbus trade spat Rockets explode as Arab leaders meet in Baghdad Timeline: Spain's economic crisis Analysis: Obama could see silver lining if healthcare law rejected Senate confirms two top bank regulators House vote sets up Republican budget as manifesto, target Gaffes aside, Romney tightens grip on Republican race House budget chair questions Pentagon budget cuts Clinton to meet Saudi king amid Syria, Iran tensions Congress passes stopgap transport funding bill U.S. may accept less stringent controls for Taliban detainees Canada deficit shrinks, reforms spark anger U.S. steps up its push to keep top World Bank role Angry Spaniards strike against labor reform Analysis: Chief Justice Roberts may cast deciding healthcare vote Canada says to let the penny drop U.S. court presses Dow Co in tax credit case Fourth quarter income trends up, boost for spending U.S. extradition treaty needs overhaul - MPs Thu,29 Mar 2012 11:41 PM PDT Reuters - LONDON (Reuters) - A committee of MPs said Britain's extradition treaty with the United States is unbalanced, one-sided and in need of major changes, echoing recent criticism from politicians, campaigners and the media. The 2003 treaty was signed to speed up the transfer of suspects between the two nations at the height of concern about terrorism after the September 11 attacks. However, there have been growing complaints in Britain that the treaty is unfair. Prime Minister David Cameron has said it should be reviewed, and discussed the issue with U.S. ... Full Story Top Labour loses seat in by-election Thu,29 Mar 2012 11:36 PM PDT Reuters - LONDON (Reuters) - The Labour party lost one of its safest parliamentary seats after a by-election in northern England, in the strongest sign yet that new leader Ed Miliband is failing to cash in on disenchantment with the Conservative government. George Galloway, an anti-war campaigner in the small, left-wing Respect party, beat Labour's Imran Hussain in a result announced on Friday with more than 18,341 votes from a by-election on Thursday for the seat of Bradford West. ... Full Story Top UN, AU call for urgent summit between Bashir and Kiir Thu,29 Mar 2012 11:03 PM PDT Reuters - ADDIS ABABA (Reuters) - The United Nations and the African Union on Thursday urged the leaders of Sudan and South Sudan to convene for talks as soon as possible after two days of clashes between the neighbours threatened a relapse into a full-scale war. South Sudan pulled troops out of Sudan's oil-producing Heglig area on Wednesday after it accused Khartoum of bombing major oil fields and other areas on its side of the border. Sudan denied the air raids but said South Sudanese troops started the fighting by attacking Heglig, one of the major oilfields left on the Sudanese side of the border. ... Full Story Top Sudan wants to live peacefully with S.Sudan, Bashir says Thu,29 Mar 2012 11:00 PM PDT Reuters - BAGHDAD (Reuters) - Sudan wants to resolve peacefully all disputes with South Sudan and build up good relations with the former civil war foe, President Omar Hassan al-Bashir said on Thursday, after two days of border clashes between the two countries. Newly-independent South Sudan moved out troops from Sudan's oil-producing Heglig area on Wednesday after it accused Khartoum of bombing oil fields and other areas on its side of the border. ... Full Story Top Candidate warns Egypt Islamists against split vote Thu,29 Mar 2012 10:59 PM PDT Reuters - CAIRO (Reuters) - Islamist groups need to join ranks and support the same candidate at Egypt's presidential election in order to avoid splitting the vote and handing victory to rivals, an Islamist candidate said on Thursday. Mohamed Selim al-Awa, 70, is one of the three main Islamists bidding for the top job in Egypt's first presidential election since the ouster of Hosni Mubarak in a popular uprising in February 2011. ... Full Story Top Mali neighbours threaten border closure Thu,29 Mar 2012 10:58 PM PDT Reuters - BAMAKO/ABIDJAN (Reuters) - Mali's neighbours on Thursday gave the leaders of last week's coup 72 hours to begin handing back power to civilians or face a crippling closure of trade borders, diplomatic isolation and a freeze in funding from the regional central bank. The West African country is an indirect victim of last year's conflict in Libya, from where weapons spilled out and bolstered a northern rebellion. The coup was led by soldiers who complain the government has not given them adequate means to fight off the uprising. ... Full Story Top Gaddafi family says Italy asset seizure illegal Thu,29 Mar 2012 10:57 PM PDT Reuters - ALGIERS (Reuters) - Muammar Gaddafi's family described as illegal on Thursday the seizure of 1.1 billion euros worth of assets that Italian police said belonged to members of the ousted Libyan leader's family. The assets, including stakes in blue chip Italian companies, a Harley-Davidson motorcycle and a chunk of forest on a Mediterranean island, were held by Libya's sovereign wealth fund on behalf of the Gaddafi family, Italy's tax police said. ... Full Story Top Graft, corruption found in Morocco public sector Thu,29 Mar 2012 10:56 PM PDT Reuters - RABAT (Reuters) - An audit court has found evidence of graft, corruption and insider trading in Morocco's state-owned firms and entities, putting to the test a government promise to end such practices. The Supreme Court of Audit's latest probe revealed that bourse watchdog CDVM had not properly investigated cases of insider trading involving five individuals that netted them gains of close to $30 million between July, 2006 and January 2007. ... Full Story Top Japan government to submit tax hike plan, heads into political showdown Thu,29 Mar 2012 10:40 PM PDT Reuters - TOKYO (Reuters) - Japan's government on Friday will submit laws to double its sales tax by 2015 to fund swelling social security costs in the world's fastest-ageing nation, setting up a showdown that could split the ruling party, force early elections and deepen policy paralysis. Prime Minister Yoshihiko Noda has staked his political career on the tax hike plan, but the chance of success looks slim as opposition parties in a divided parliament baulk at cooperating with the government. ... Full Story Top Public information restricted in case of slain teen Thu,29 Mar 2012 10:28 PM PDT Reuters - SANFORD, Florida (Reuters) - A special prosecutor investigating the death of an unarmed black teenager in Florida invoked an exemption on Thursday that allows authorities to deny the release of otherwise public information to the media. The national media has converged on this Orlando suburb to cover a story that has gripped the country and renewed a discussion about race relations in America. Despite this, public officials have told reporters not to bother asking questions. ... Full Story Top Insight: Obama's North Korean leap of faith turns to ashes Thu,29 Mar 2012 10:07 PM PDT Reuters - WASHINGTON (Reuters) - When U.S. diplomats filed into North Korea's grim embassy in Beijing last month they found an unlikely surprise: Starbucks. Their hosts, led by North Korean's chief nuclear negotiator Kim Kye-gwan, had ordered U.S.-style coffee for talks both sides hoped would lead to new negotiations on Pyongyang's nuclear program and to resumed U.S. food shipments to one of the most feared and secretive countries in the world. There were more surprises to come. ... Full Story Top U.S. drone strike kills 4 militants in North-Western Pakistan Thu,29 Mar 2012 09:47 PM PDT Reuters - MIRANSHAH, Pakistan (Reuters) - A U.S. drone strike killed four suspected militants and wounded three others on Friday in Pakistan's North Waziristan tribal region near the Afghanistan border, intelligence officials and militants said. The remotely piloted aircraft targeted a residential compound used by foreign militants in Miranshah, the main town in North Waziristan, a Pakistan Taliban commander told Reuters. "All of those killed and injured in this attack were Arab, they belonged to some Arab country," the commander said. ... Full Story Top Dozens of Taliban killed in fighting in west Afghanistan Thu,29 Mar 2012 09:11 PM PDT Reuters - KABUL (Reuters) - Dozens of Taliban fighters were killed in U.S. air strikes and a gunbattle in western Afghanistan after an insurgent attack on an Afghan army patrol, NATO and Afghan officials said on Friday. A spokesman of the International Security Assistance Force said the patrol came under attack in Gulistan district in western Farah province on Wednesday, prompting a call for air support. "Numerous insurgents were killed, and several motorbikes were damaged or destroyed" following two strikes by coalition aircraft, he said. ... Full Story Top Indonesia lawmakers vote on fuel hike after protests Thu,29 Mar 2012 08:57 PM PDT Reuters - JAKARTA (Reuters) - Indonesia's parliament is set to vote on a controversial fuel price hike on Friday, with a leading political party threatening to scupper the plan in a move that could undermine confidence in Southeast Asia's largest economy. The government wants a 33 percent rise in petrol prices, currently the cheapest in Asia, from April 1 to reduce a swelling subsidy bill that threatens to undermine the budget discipline that led rating agencies to lift the country to an investment grade status. ... Full Story Top Kurds struggle for recognition in Syrian revolt Thu,29 Mar 2012 08:47 PM PDT Reuters - ISTANBUL (Reuters) - Veteran Kurdish human rights campaigner Radeef Mustafa lived in the shadow of huge Syrian secret police compounds towering over his decrepit hometown on the border with Turkey. When security police cracked his son's head open with an iron bar in a demonstration last year, Mustafa fled. He and his family came to Turkey where he joined the opposition Syrian National Council (SNC), hoping the year-long uprising against President Bashar al-Assad would end discrimination against the country's largest ethnic minority. ... Full Story Top No clear way to court for Syria war crimes suspects Thu,29 Mar 2012 08:31 PM PDT Reuters - GENEVA/NEW YORK, March 29 - U.N. officials have compiled a list of Syrian figures suspected of crimes against humanity in the uprising against President Bashar al-Assad, but opposition from Russia and China means the accused are unlikely to appear in the dock at the international war crimes court any time soon. As world powers press for an end to the violence that has racked Syria and claimed thousands of lives, pressure is building over accusations that Assad's security apparatus has committed crimes in suppressing the year-long revolt. Syrian government forces have been accused in a U.N. ... Full Story Top Lawyers tested in court over anti-terrorism act Thu,29 Mar 2012 08:04 PM PDT Reuters - NEW YORK (Reuters) - Lawyers for the Obama administration were put to the test by a U.S. judge on Thursday to explain why civilian activists and journalists should not fear being detained under a new anti-terrorism law. Activists and journalists are suing the government to try to stop implementation of the law's provisions of indefinite detention for those deemed to have "substantially supported" al Qaeda and the Taliban and "associated forces. ... Full Story Top Japan orders to intercept North Korea missile if it poses threat Thu,29 Mar 2012 07:55 PM PDT Reuters - TOKYO (Reuters) - Japan on Friday ordered its military to intercept the North Korean missile Pyongyang plans to launch next month if it poses a direct threat to Japan, a scenario the government considers unlikely. "We don't expect it to fall onto our territory. We would like the public to carry on with their daily lives and their work normally," Chief Cabinet Secretary Osamu Fujimura told a regular news conference. "Government offices concerned will take precautionary measures just in case. ... Full Story Top Senate confirms top bank regulators Thu,29 Mar 2012 07:38 PM PDT Reuters - WASHINGTON (Reuters) - The U.S. Senate on Thursday confirmed President Barack Obama's picks for key spots at the Federal Deposit Insurance Corp (FDIC)and the Office of the Comptroller of the Currency (OCC), banking agencies that are playing a vital role in implementing the 2010 Dodd-Frank financial oversight law. The Senate voted to confirm Thomas Curry to lead the OCC, and confirmed Martin Gruenberg, former Kansas City Federal Reserve Bank President Thomas Hoenig and JP Morgan Chase and Co executive Jeremiah Norton to fill openings on the five-member FDIC board. ... Full Story Top Pentagon says F-35 fighter delayed, costs rise 4.3 percent Thu,29 Mar 2012 07:33 PM PDT Reuters - (Reuters) - The cost of developing and building the F-35 Joint Strike Fighter rose 4.3 percent to $395.7 billion last year and the plane will not reach full-rate production until 2019, two years later than planned, the Pentagon said on Thursday. It cited a slowdown in orders from the U.S. military and other countries as a reason for the higher cost of the Lockheed Martin Corp next-generation combat plane, which has been dogged by delays and cost overruns. ... Full Story Top North Korea test fires short-range missiles: reports Thu,29 Mar 2012 07:21 PM PDT Reuters - SEOUL (Reuters) - North Korea fired two short-range missiles off its west coast on Thursday believed to be part of a test to upgrade capabilities, said news reports published on Friday, quoting South Korean military officials. North Korea has raised tensions in recent weeks by announcing it would launch a rocket to put a satellite into orbit, but regional powers are urging Pyongyang to drop the plan, saying it would violate U.N. Security Council resolutions. ... Full Story Top U.S. may accept less stringent controls for Taliban detainees Thu,29 Mar 2012 05:45 PM PDT Reuters - WASHINGTON (Reuters) - The Obama administration has signaled a willingness to accept less-stringent controls on former Taliban leaders who could be transferred to Qatar as part of a deal between the United States and the Afghan militants to kick-start Afghan peace talks, U.S. officials said. ... Full Story Top U.S. nears sanctions phase in Airbus trade spat Thu,29 Mar 2012 05:41 PM PDT Reuters - WASHINGTON (Reuters) - The United States is expected to ratchet up pressure on the European Union to end subsidies for Airbus by moving at the World Trade Organization toward retaliation on European goods, an industry official and other sources said. "I'm hearing that the USTR will take the next step soon," an industry official said, referring to the WTO process for obtaining permission to retaliate, referring to the office of the U.S. Trade Representative. An EU plan in December for ending subsidies declared illegal by the WTO had failed to satisfy either Boeing or the U.S. ... Full Story Top Rockets explode as Arab leaders meet in Baghdad Thu,29 Mar 2012 05:20 PM PDT Reuters - BAGHDAD (Reuters) - Three rockets exploded around Baghdad on Thursday despite a massive security operation as Shi'ite Prime Minister Nuri al-Maliki hosted the country's first Arab League summit in two decades. After years of war, Iraq's Shi'ite-led government had hoped the summit would highlight its growing stability and renewed role in the region, where Sunni Gulf nations have long been wary of Baghdad's close ties to Shi'ite power Iran. One rocket exploded on the edge of the fortified Green Zone where the Arab leaders were meeting. "The blast happened close to the Iranian embassy. ... Full Story Top Timeline: Spain's economic crisis Thu,29 Mar 2012 05:11 PM PDT Reuters - (Reuters) - Here is a look at Spain's economy since 2008 as workers walk out on strike a day before a new austerity budget. 2007: - Spain has a public account surplus of more than 2 percent of gross domestic product and the economy grows by 3.5 percent, largely due to a construction boom. By 2008, the property bubble has burst, the surplus has become a deficit and growth has fallen to 0.9 percent. March 2008: - Prime Minister Jose Luis Rodriguez Zapatero wins a second term in office but fails to secure an outright majority in parliament. ... Full Story Top Analysis: Obama could see silver lining if healthcare law rejected Thu,29 Mar 2012 04:57 PM PDT Reuters - WASHINGTON (Reuters) - The conventional wisdom is that it would be a political disaster for Democratic President Barack Obama, and a boon for Republicans, if the U.S. Supreme Court strikes down all or most of Obama's healthcare overhaul. That could be: The healthcare law - which among other things would require most Americans to buy health insurance - is Obama's signature achievement in domestic policy, and the number-one target of many Republicans in this year's elections. ... Full Story Top Senate confirms two top bank regulators Thu,29 Mar 2012 04:50 PM PDT Reuters - WASHINGTON (Reuters) - The Senate on Thursday confirmed two of President Barack Obama's top financial nominees - Martin Gruenberg to lead the Federal Deposit Insurance Corp., and Thomas Curry to head the Office of the Comptroller of the Currency. Both are currently members of the FDIC board with Gruenberg serving as the acting chairman. The Senate also confirmed without opposition Thomas Hoenig, a former president of the Federal Reserve Bank in Kansas City, as a member of the FDIC board. ... Full Story Top House vote sets up Republican budget as manifesto, target Thu,29 Mar 2012 04:47 PM PDT Reuters - WASHINGTON (Reuters) - House Republicans passed congressman Paul Ryan's deficit-cutting budget plan on Thursday, setting it up as a central theme for their election-year campaign efforts and as a target for Democratic attacks over its proposed healthcare cuts. In a preview of the messages they will carry home to their constituents during a two-week break, Republicans hailed the plan as a bold step toward reining in U.S. deficits, while Democrats decried it as an assault on the cherished Medicare healthcare system for the elderly. ... Full Story Top Gaffes aside, Romney tightens grip on Republican race Thu,29 Mar 2012 04:44 PM PDT Reuters - HOUSTON (Reuters) - Step by step, Mitt Romney is tightening his grip on the Republican presidential nomination race despite a continued penchant for gaffes on the campaign trail. Romney was in Houston on Thursday to accept the endorsement of former President George H.W. Bush, the latest in a line of establishment figures to choose the former Massachusetts governor as the Republicans' best chance of defeating Democratic President Barack Obama in the November 6 election. The endorsement came a day after Romney gained the seal of approval from U.S. ... Full Story Top House budget chair questions Pentagon budget cuts Thu,29 Mar 2012 04:38 PM PDT Reuters - WASHINGTON (Reuters) - The Pentagon budget for next year is dishonest and generals who have endorsed it on Capitol Hill are not giving Congress their "true advice," a senior Republican lawmaker on budget matters said on Thursday amid rising rhetoric over looming defense cuts. Representative Paul Ryan, head of the budget committee of the House of Representatives, said the defense budget President Barack Obama sent to Congress last month was driven by spending constraints and not by the new U.S. military strategy unveiled in January. "We don't think the generals are giving us their true advice. ... Full Story Top Clinton to meet Saudi king amid Syria, Iran tensions Thu,29 Mar 2012 04:14 PM PDT Reuters - RIYADH (Reuters) - U.S. Secretary of State Hillary Clinton arrives in Saudi Arabia on Friday for talks to weigh limited options available to end the violence in Syria and launch a "strategic forum" with Gulf allies against a backdrop of growing tensions with Iran. The world's main superpower and its top oil exporter have been strategic allies since the 1940s, but deep disagreements over how to tackle the Arab popular uprisings last year strained the relationship. Although the two states have mended that rift, differences persist over both regional issues and energy policy, amid U.S. ... Full Story Top Congress passes stopgap transport funding bill Thu,29 Mar 2012 04:13 PM PDT Reuters - WASHINGTON (Reuters) - The Congress averted a weekend shutdown of thousands of transportation construction projects on Thursday by passing a stopgap funding bill that buys time for House Speaker John Boehner to resolve Republican differences over long-term financing. The Senate approved by voice vote a measure passed earlier in the day by the House of Representatives that gives a 90-day funding extension for road, bridge and rail construction projects. The bill now goes to President Barack Obama, who is expected to sign it. The temporary measure averts layoffs for as many as 1. ... Full Story Top U.S. may accept less stringent controls for Taliban detainees Thu,29 Mar 2012 03:36 PM PDT Reuters - WASHINGTON (Reuters) - The Obama administration has signaled a willingness to accept less-stringent controls on former Taliban leaders who could be transferred to Qatar as part of a deal between the United States and the Afghan militants to kick-start Afghan peace talks, U.S. officials said. ... Full Story Top Canada deficit shrinks, reforms spark anger Thu,29 Mar 2012 02:42 PM PDT Reuters - OTTAWA (Reuters) - Canada opted for the slow road to a balanced budget and kept spending cuts relatively mild in a cautious budget on Thursday that was nonetheless packed with controversial reforms that ranged from raising the retirement age to fast-tracking approvals for big oil and mining projects. The Conservative government maintained a promise made last year to eliminate its budget deficit, small by international standards at 1.5 percent of gross domestic product, by the 2015-16 fiscal year after adjusting for promised spending cuts. It cuts discretionary spending by 6. ... Full Story Top U.S. steps up its push to keep top World Bank role Thu,29 Mar 2012 02:38 PM PDT Reuters - WASHINGTON (Reuters) - The United States stepped up lobbying on Thursday for its pick to retain the top job at the World Bank as emerging markets pushed their view that the time has come for rich nations to share leadership of key institutions. In a letter to World Bank board members, Treasury Secretary Timothy Geithner urged support for Korean-born Jim Yong Kim and flagged his experience "from Asia to Africa to the Americas" working on development projects. ... Full Story Top Angry Spaniards strike against labor reform Thu,29 Mar 2012 02:23 PM PDT Reuters - BARCELONA/MADRID (Reuters) - Spanish workers angry at a labor reform the government calls an "unstoppable" necessity staged a general strike on Thursday, bringing factories and ports to a standstill and igniting flashes of violence on the streets. Hundreds of thousands attended largely peaceful marches throughout Spain, waving red flags and beating drums against the budget cuts of Prime Minister Mariano Rajoy, who was elected by a landslide only four months ago on a mandate to dig the country out of a debt crisis that has unnerved its European neighbors. ... Full Story Top Analysis: Chief Justice Roberts may cast deciding healthcare vote Thu,29 Mar 2012 02:21 PM PDT Reuters - WASHINGTON (Reuters) - During three days of historic healthcare arguments at the Supreme Court, Chief Justice John Roberts presided with a steady calm and folksy charm. From his center seat on the nine-member bench, Roberts gently mediated as colleagues interrupted one another's questions this week. He offered a break in arguments on Tuesday so spectators in the packed courtroom could briefly stand and stretch, and then at the end of that Day Two, warmly told lawyers, "Counsel, we'll see you tomorrow. ... Full Story Top Canada says to let the penny drop Thu,29 Mar 2012 02:12 PM PDT Reuters - OTTAWA (Reuters) - Canada's puny penny coin, loved by some but an annoyance to many, will be withdrawn from circulation this year because it costs too much to make and is a pecuniary pest, the government announced on Thursday. "The penny is a currency without any currency in Canada," Finance Minister Jim Flaherty told reporters. Ottawa said the penny retained only one twentieth of its original purchasing power. It costs 1.6 Canadian cents to produce each one cent coin and stamping out the penny will save around C$11 million ($11 million) a year. ... Full Story Top U.S. court presses Dow Co in tax credit case Thu,29 Mar 2012 02:08 PM PDT Reuters - NEW YORK (Reuters) - An appeals court heard arguments from Union Carbide and the U.S. government on Thursday as the company fought to use a tax credit retroactively for research it did in the 1990s to improve manufacturing processes. A decision in favor of Union Carbide would widen the scope of the research and development tax credit, part of the corporate tax code that costs U.S. taxpayers roughly $7 billion a year. Union Carbide is a subsidiary of Dow Chemical Co. The case involves process improvements researched in 1994 and 1995. ... Full Story Top Fourth quarter income trends up, boost for spending Thu,29 Mar 2012 02:03 PM PDT Reuters - WASHINGTON (Reuters) - Household income grew at a faster pace in the fourth quarter than previously thought as the jobs market strengthened, a development that could underpin consumer spending. The Commerce Department said on Thursday real disposable income rose to a seasonally adjusted annual rate of $11.73 trillion, $10.6 billion more than previously estimated. While its final estimate left growth in gross domestic product at an unrevised 3 percent pace last quarter, when measured from the income side, the economy expanded at a solid 4. ... Full Story Top

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