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Tuesday, November 29, 2011 12:06 AM PST

Today's Politics - Bloomberg News Headlines - Yahoo! News: Egyptians wary of Mubarak party loyalists in vote Al Shabaab bans some aid groups in Somalia, loot Libya says ex-deputy PM suspect in general's killing Sudan sentences Darfur rebels to death: state media Counting starts in violence-hit Congo poll Egypt's post-Mubarak poll confounds fears of mayhem Biden visits Greece, Turkey at key moment in region Nigeria withdraws $2 bln from oil savings: finance Analysis: After 10 years, China's WTO ride could get bumpier Gingrich targets "sanctuaries" for illegal immigrants Gangs from Africa, Iran muscle in on South East Asia drugs: U.N. Pakistan PM: No more "business as usual" with U.S. U.S.-Pakistan ties troubled but repairable: General Dempsey Moody's says may cut EU banks' subordinated ratings Rockets fired from Lebanon hit Israel: army Affair claim shakes Cain presidential bid China paper says U.S. fans terror by Pakistan attack Fitch warns of U.S. downgrade if no budget deal in 2013 Trinidad "plot" arrests reach 13, but details scarce Bill to scrap Canadian Wheat Board monopoly advances Osborne to admit growth, borrowing disappointment Egypt's post-Mubarak poll confounds fears of mayhem U.S., EU consider trade talks to foster growth Euro crisis unlikely to trigger U.S. downgrade: Fitch Exclusive: Regulators doubt MF Global shortfall estimate Osborne to admit growth, borrowing disappointment Democrats, Republicans trade blows on tax cuts Syria sanctioned, condemned for "brutality" Police hold off on eviction of Los Angeles Occupy camp U.S. vulnerable to cyber attacks: military chief Claims of affair emerge, Cain discusses quitting Egypt's post-Mubarak poll peaceful, high turnout Obama tells EU to take decisive action on debt Italy, Spain haven't asked IMF for help: Lagarde Mitt Romney fights back on two fronts Pakistan PM: No more "business as usual" with U.S. Possible euro exits unsettling - and alluring - for market Canada won't confirm it's pulling out of Kyoto Fitch warns of U.S. downgrade if no budget deal in 2013 Stalin's daughter Svetlana dies in Wisconsin Egyptians wary of Mubarak party loyalists in vote Mon,28 Nov 2011 10:32 PM PST Reuters - FAYOUM, Egypt (Reuters) - Former members of the party that ruled Egypt for more than 30 years found pockets of support on Monday in the first parliamentary election since a popular uprising in January, but many voters said they knew who they were and would give them a wide berth. Know locally as "feloul", Arabic for "remnants", members of deposed President Hosni Mubarak's National Democratic Party (NDP) are free to stand in the election, provided they have not been convicted of corruption or other serious abuses. ... Full Story Top Al Shabaab bans some aid groups in Somalia, loot Mon,28 Nov 2011 10:30 PM PST Reuters - MOGADISHU/NAIROBI (Reuters) - Al Shabaab rebels stormed and looted offices of aid organisations in famine-hit Somalia on Monday, the United Nations said, and the rebels announced a ban on 16 relief agencies from areas they control. Rebels occupied agency offices and took supplies in southern and central areas at a time when a quarter of a million Somalis face starvation and Kenyan, Somali and Ethiopian forces are fighting the al-Qaeda-inspired group. ... Full Story Top Libya says ex-deputy PM suspect in general's killing Mon,28 Nov 2011 10:23 PM PST Reuters - TRIPOLI (Reuters) - Libya's National Transitional Council (NTC) said on Monday a former NTC deputy prime minister was suspected of involvement in the killing of one of the rebel movement's most senior military commanders. General Abdel Fattah Younes was killed by his own side in July, an incident that caused deep rifts inside the rebellion against Muammar Gaddafi's rule. The naming of the suspects risks reviving those divisions. At a news conference broadcast on Libyan television, NTC chief military prosecutor Yussef Al-Aseifr named Ali El-Essawi as chief suspect. ... Full Story Top Sudan sentences Darfur rebels to death: state media Mon,28 Nov 2011 10:22 PM PST Reuters - KHARTOUM (Reuters) - A Sudanese court sentenced to death seven people accused of being members of the most powerful rebel group in the country's war-riven Darfur region, state media said on Monday. Fighting has declined in the mostly western territory from its peak in 2003 and 2004 but clashes between government troops, militias, bandits, tribes and rival rebel factions have continued. ... Full Story Top Counting starts in violence-hit Congo poll Mon,28 Nov 2011 10:21 PM PST Reuters - KINSHASA (Reuters) - Officials began counting votes in Democratic Republic of Congo's second post-war election overnight, after a polling day marred by confusion, violence and alleged fraud. Organisers pushed ahead with the presidential and parliamentary elections in the vast Central African nation despite fears that logistical delays and complaints over the process would create a bitterly contested result. President Joseph Kabila faces ten rivals, headed by veteran opposition leader Etienne Tshisekedi. About 18,500 people are running for 500 seats in parliament. ... Full Story Top Egypt's post-Mubarak poll confounds fears of mayhem Mon,28 Nov 2011 10:20 PM PST Reuters - CAIRO (Reuters) - Egyptians swarmed to the ballot box peacefully in their first election since a popular revolt toppled Hosni Mubarak, confounding fears of violence after a week of riots in which 42 people were killed. Voting continues for a second day on Tuesday, after high turnout and a peaceful atmosphere on Monday in a parliamentary election that could loosen the army's grip on power and sweep long-banned Islamists into the legislature. ... Full Story Top Biden visits Greece, Turkey at key moment in region Mon,28 Nov 2011 10:17 PM PST Reuters - WASHINGTON (Reuters) - Vice President Joe Biden travels to Turkey this week amid deepening concern over Syria, before visiting a new Greek leader battling a debt crisis that could unravel the euro zone and sink the U.S. recovery. Biden flies into Ankara on Thursday with a range of hot-button topics to discuss including the eight-month crackdown on pro-democracy protests in neighboring Syria and the future of Iraq after U.S. troops leave by the year's end. ... Full Story Top Nigeria withdraws $2 bln from oil savings: finance Mon,28 Nov 2011 10:07 PM PST Reuters - ABUJA (Reuters) - Nigeria has withdrawn $2 billion from its crude oil savings for 'various projects' and distributed more money in October to the three tiers of government than the previous month, the minister of state for finance said on Monday. Yerima Ngama told reporters that 615.76 billion naira was distributed from federal accounts to the three tiers of government for October, up from 611.5 billion in September. ... Full Story Top Analysis: After 10 years, China's WTO ride could get bumpier Mon,28 Nov 2011 09:55 PM PST Reuters - BEIJING (Reuters) - Rising trade protectionism and frustration over its domestic subsidies spell trouble for China and could lead to more friction within the World Trade Organization than Beijing has grown accustomed to over the past decade. On the eve of China accession to the WTO 10 years ago this December, naysayers warned that the country could falter under the demands of opening up its economy. Now there is little debate that it has been a boon in making China the world's largest exporter and the second largest trading nation. But China's next decade in the trade group could be tougher. ... Full Story Top Gingrich targets "sanctuaries" for illegal immigrants Mon,28 Nov 2011 08:02 PM PST Reuters - CHARLESTON, South Carolina (Reuters) - Republican presidential hopeful Newt Gingrich told a South Carolina town hall on Monday that as president he would block federal funds to any city that "declared itself a sanctuary" for illegal immigrants. Gingrich, fresh from a key endorsement from an influential New Hampshire newspaper, is on a three-day swing through South Carolina, an early primary state that his campaign has dubbed his "southern firewall. ... Full Story Top Gangs from Africa, Iran muscle in on South East Asia drugs: U.N. Mon,28 Nov 2011 06:52 PM PST Reuters - BANGKOK (Reuters) - International drug gangs from Africa and Iran are muscling in on Southeast Asia's booming methamphetamine business which has shown a staggering increase and is spreading through the region, the United Nations said in a report on Tuesday. Amphetamine-type stimulants (ATS), including amphetamine and methamphetamine, have become the drugs of choice in many parts of Southeast and East Asia since the 1990s, replacing plant-based drugs such as heroin, opium and cannabis, the U.N. drugs office said. ... Full Story Top Pakistan PM: No more "business as usual" with U.S. Mon,28 Nov 2011 06:34 PM PST Reuters - ISLAMABAD (Reuters) - Pakistan's prime minister ruled out "business as usual" with the United States on Monday after a NATO attack killed 24 Pakistani soldiers and the army threatened to curtail cooperation over the war in Afghanistan. Saturday's incident on Pakistan's border with Afghanistan has complicated U.S. attempts to ease a crisis in relations with Islamabad and stabilize the region before foreign combat troops leave Afghanistan. "Business as usual will not be there," Prime Minister Yusuf Raza Gilani told CNN when asked if ties with the United States would continue. ... Full Story Top U.S.-Pakistan ties troubled but repairable: General Dempsey Mon,28 Nov 2011 06:11 PM PST Reuters - LONDON, Nov 28 (Reuters) - U.S.-Pakistani relations are at one of their worst points in memory after the NATO strike that killed 24 Pakistani troops, but can recover, Washington's top military officer said on Monday. General Martin Dempsey said Pakistani anger was justified given the loss of life. But he declined to offer an apology, saying during a trip to London that he did not know enough yet about the weekend incident and that there was a U.S. military investigation. ... Full Story Top Moody's says may cut EU banks' subordinated ratings Mon,28 Nov 2011 05:24 PM PST Reuters - (Reuters) - Ratings agency Moody's said on Tuesday it could downgrade the subordinated debt of 87 banks across 15 European Union nations on concerns that governments would be too cash-strapped to bail out holders of riskier bank debt in times of stress. Moody's said the greatest number of ratings to be reviewed were in Spain, Italy, Austria and France. The review could lead to an average potential downgrade of subordinated debt by two notches, and junior subordinated debt and Tier 3 debt by one notch, it added. ... Full Story Top Rockets fired from Lebanon hit Israel: army Mon,28 Nov 2011 05:09 PM PST Reuters - JERUSALEM (Reuters) - Several rockets fired from Lebanon hit northern Israel on Tuesday, and the Jewish state returned fire across the border in response, military officials said. Two buildings in the western Galilee area were damaged, Israeli media said, but there were no reported casualties. Residents said they heard two explosions and that houses shook. An Israeli military spokesman said the rockets were the first fired since 2009 across a border where a 34-day war was fought in 2006 between Israel and Iranian-backed Hezbollah guerrillas based in Lebanon. ... Full Story Top Affair claim shakes Cain presidential bid Mon,28 Nov 2011 05:06 PM PST Reuters - WASHINGTON (Reuters) - A woman accused Republican presidential candidate Herman Cain on Monday of having a 13-year affair with her that ended just months ago, a new charge that could derail his campaign for the White House. Cain, already hit by allegations of sexual harassment, denied an affair but he addressed the idea of giving up his presidential bid for the first time. Until recently a front-runner among Republicans seeking to challenge President Barack Obama, Cain said he would stay in the race as long as his wife stood by him. ... Full Story Top China paper says U.S. fans terror by Pakistan attack Mon,28 Nov 2011 05:05 PM PST Reuters - BEIJING (Reuters) - China's top state newspaper on Tuesday accused the United States of flouting international law and fanning terrorism after a NATO attack killed 24 Pakistani soldiers, and it warned that the Islamabad's grip on security could be dangerously weakened. The condemnation in the People's Daily, the main newspaper of China's ruling Communist Party, kept up Beijing's angry words in support of its partner, Pakistan, whose prime minister, Yusuf Raza Gilani, has said that "business as usual" with the United States was over after the attack on Saturday. ... Full Story Top Fitch warns of U.S. downgrade if no budget deal in 2013 Mon,28 Nov 2011 04:56 PM PST Reuters - NEW YORK (Reuters) - Fitch Ratings gave the United States until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit or risk a downgrade of the country's coveted AAA rating. The ratings agency on Monday revised to negative from stable the outlook on the U.S. credit rating after a special congressional committee failed last week to agree on at least $1.2 trillion in deficit-reduction measures. ... Full Story Top Trinidad "plot" arrests reach 13, but details scarce Mon,28 Nov 2011 04:38 PM PST Reuters - PORT OF SPAIN (Reuters) - The number of suspects detained in an alleged plot to assassinate Trinidad and Tobago's prime minister rose to 13, a top security official said on Monday while offering few new details about the conspiracy. National Security Minister John Sandy faced intense questioning at a news conference from reporters pressing for more specifics since Prime Minister Kamla Persad-Bissessar announced on Thursday that officials had uncovered a plot. ... Full Story Top Bill to scrap Canadian Wheat Board monopoly advances Mon,28 Nov 2011 04:22 PM PST Reuters - WINNIPEG, Manitoba (Reuters) - A government bill to scrap the Canadian Wheat Board's grain marketing monopoly cleared the final stage of approval by Canada's House of Commons on Monday, leaving it all but certain to become law next month. The bill would end the Wheat Board's six-decade old marketing monopoly for Western Canada's wheat and barley for milling or export, as of August 2012, the start of the 2012/13 crop marketing year. ... Full Story Top Osborne to admit growth, borrowing disappointment Mon,28 Nov 2011 04:09 PM PST Reuters - LONDON (Reuters) - Chancellor George Osborne will face a difficult task defending his austerity programme on Tuesday, when he is expected to unveil forecasts showing much weaker growth and a borrowing overshoot of at least 86 billion pounds over four years. Osborne's autumn budget statement at 12:30 BT is expected to show independent growth forecasts slashed for the next couple of years, reflecting the rapid deterioration of the economic outlook since the March budget. ... Full Story Top Egypt's post-Mubarak poll confounds fears of mayhem Mon,28 Nov 2011 04:03 PM PST Reuters - CAIRO (Reuters) - Egyptians swarmed to the ballot box peacefully in their first election since a popular revolt toppled Hosni Mubarak, confounding fears of violence after a week of riots in which 42 people were killed. Voting continues for a second day on Tuesday, after high turnout and a peaceful atmosphere on Monday in a parliamentary election that could loosen the army's grip on power and sweep long-banned Islamists into the legislature. ... Full Story Top U.S., EU consider trade talks to foster growth Mon,28 Nov 2011 03:43 PM PST Reuters - WASHINGTON (Reuters) - The United States and the European Union took a step on Monday toward launching bilateral trade talks to help create jobs on both sides of the Atlantic by capitalizing on already strong economic ties. "We must intensify our efforts to realize the untapped potential of transatlantic economic co-operation to generate new opportunities for jobs and growth," the two sides said in a joint statement after a White House meeting between President Barack Obama, European Commission President Jose Manuel Barroso and EU Council President Herman Van Rompuy. ... Full Story Top Euro crisis unlikely to trigger U.S. downgrade: Fitch Mon,28 Nov 2011 03:39 PM PST Reuters - NEW YORK (Reuters) - There is little chance of a "material adverse shock" occurring in the United States in 2012 that would lead Fitch Ratings to cut the country's top-tier credit rating, including a deepening of the European debt crisis, a top analyst with the ratings agency said on Monday. Even a short U.S. economic recession would not be a reason for a downgrade, analyst David Riley told Reuters in an interview after Fitch revised its outlook on the United States' top AAA rating to negative from stable. ... Full Story Top Exclusive: Regulators doubt MF Global shortfall estimate Mon,28 Nov 2011 03:37 PM PST Reuters - WASHINGTON (Reuters) - U.S. regulators and law enforcement believe a bankruptcy trustee has overestimated the amount of customer funds missing at MF Global, according to sources familiar with the matter. One source said on Monday that regulators believe at least $220 million is being double-counted by the trustee, taking the total shortfall at the brokerage to just under $1 billion. A law enforcement source told Reuters last week that federal investigators also doubt the $1.2 billion figure. ... Full Story Top Osborne to admit growth, borrowing disappointment Mon,28 Nov 2011 03:34 PM PST Reuters - LONDON (Reuters) - Chancellor George Osborne will face a difficult task defending his austerity programme on Tuesday, when he is expected to unveil forecasts showing much weaker growth and a borrowing overshoot of at least 86 billion pounds over four years. Osborne's autumn budget statement at 12:30 BT is expected to show independent growth forecasts slashed for the next couple of years, reflecting the rapid deterioration of the economic outlook since the March budget. ... Full Story Top Democrats, Republicans trade blows on tax cuts Mon,28 Nov 2011 03:26 PM PST Reuters - WASHINGTON (Reuters) - Democrats and Republicans in Congress on Monday exchanged their first blows in a battle over extending a payroll tax cut for workers, the latest in a series of polarizing fights that has worried investors. Democratic Senate Majority Leader Harry Reid warned that failure to continue the tax holiday would hurt U.S. economic growth and could, according to some economists, push the country back into recession. ... Full Story Top Syria sanctioned, condemned for "brutality" Mon,28 Nov 2011 03:09 PM PST Reuters - BEIRUT (Reuters) - Syria faces growing economic sanctions and condemnation over what the United Nations calls "gross human rights violations," but President Bashar al-Assad shows no sign of buckling under pressure to end his military crackdown on popular unrest. State television broadcast pro-Assad rallies "supporting national unity and rejecting foreign interference," after the Arab League imposed sanctions on Sunday. The European Union weighed on Monday, further tightening the financial screws on Damascus for its "brutality and unwillingness to change course. ... Full Story Top Police hold off on eviction of Los Angeles Occupy camp Mon,28 Nov 2011 03:02 PM PST Reuters - LOS ANGELES (Reuters) - Police in riot gear closed in before dawn on Monday on anti-Wall Street activists in Los Angeles who defied a midnight deadline to vacate a camp outside City Hall, but stopped short of clearing the encampment. Police managed to reopen blocked streets for morning rush-hour commuters after a tense standoff with protesters who had taken over a downtown intersection, but remnants of a crowd that had swelled to 2,000 overnight remained at City Hall. ... Full Story Top U.S. vulnerable to cyber attacks: military chief Mon,28 Nov 2011 02:55 PM PST Reuters - LONDON (Reuters) - The top U.S. military officer said on Monday the United States was vulnerable to cyber attacks, and called for more aggressive action to bolster America's online defenses. The comments by General Martin Dempsey, chairman of the Joint Chiefs of Staff, were the latest by U.S. military officials flagging cyber security as an area of growing focus and investment even as the Pentagon braces for declining budgets. "We lose enormous intellectual property rights. We're under constant attack every day. ... Full Story Top Claims of affair emerge, Cain discusses quitting Mon,28 Nov 2011 02:54 PM PST Reuters - WASHINGTON (Reuters) - Republican presidential candidate Herman Cain said on Monday a woman will soon emerge to accuse him of having a 13-year affair with her, hinting for the first time that allegations about his past might force him to quit the White House race. The former pizza company executive, who has been dogged by several allegations of sexual harassment, told CNN he had nothing to hide and that he is staying in the race. ... Full Story Top Egypt's post-Mubarak poll peaceful, high turnout Mon,28 Nov 2011 02:53 PM PST Reuters - CAIRO (Reuters) - Egyptians voted Monday in the first election since a popular revolt toppled Hosni Mubarak's one-man rule, showing new-found faith in the ballot box that may sweep long-banned Islamists into parliament even as army generals cling to power. Voters swarmed to the polls in a generally peaceful atmosphere despite the unrest that marred the election run-up, when 42 people were killed in protests demanding an immediate transition from military to civilian rule. ... Full Story Top Obama tells EU to take decisive action on debt Mon,28 Nov 2011 02:53 PM PST Reuters - WASHINGTON (Reuters) - President Barack Obama pressed European Union officials on Monday to act quickly and decisively to resolve their sovereign debt crisis, which the White House said was weighing on the U.S. economy. After meeting European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, Obama said he was keen to see the euro zone crisis end. "I communicated to them that the United States stands ready to do our part to help them resolve this issue. This is of huge importance to our economy," Obama, seated next to the EU leaders, told reporters. ... Full Story Top Italy, Spain haven't asked IMF for help: Lagarde Mon,28 Nov 2011 02:52 PM PST Reuters - LIMA (Reuters) - Italy and Spain have not asked to be rescued by the International Monetary Fund, the head of the lender said on Monday as she urged European leaders to quickly solve the region's festering debt crisis. Managing Director Christine Lagarde said the IMF can extend financial lifelines only when governments ask for them and so far help has only been extended to Portugal, Ireland and Greece. ... Full Story Top Mitt Romney fights back on two fronts Mon,28 Nov 2011 02:45 PM PST Reuters - WASHINGTON (Reuters) - Mitt Romney's presidential campaign scrambled on Monday to fight challenges on two fronts: fellow Republican Newt Gingrich's momentum and new Democratic accusations of Romney's frequent flip flopping on policies. The former Massachusetts governor launched a media assault against President Barack Obama's handling of the economy, after Democrats released a biting new ad that accused the Republican of changing his policy positions with the political winds. ... Full Story Top Pakistan PM: No more "business as usual" with U.S. Mon,28 Nov 2011 02:45 PM PST Reuters - ISLAMABAD (Reuters) - Pakistan's prime minister ruled out "business as usual" with the United States on Monday after a NATO attack killed 24 Pakistani soldiers and the army threatened to curtail cooperation over the war in Afghanistan. Saturday's incident on Pakistan's border with Afghanistan has complicated U.S. attempts to ease a crisis in relations with Islamabad and stabilize the region before foreign combat troops leave Afghanistan. "Business as usual will not be there," Prime Minister Yusuf Raza Gilani told CNN when asked if ties with the United States would continue. ... Full Story Top Possible euro exits unsettling - and alluring - for market Mon,28 Nov 2011 02:42 PM PST Reuters - NEW YORK (Reuters) - News that the world's top foreign exchange broker has been testing its trading system against a possible euro collapse conjures a host of images and ideas for currency traders and investors, not all of them bad. If one or more country ditches the euro, the revival of old currencies would mean more opportunity for profit in the $4 trillion-a-day FX market, traders say. Yet establishing new exchange rates, sorting out how to settle trades and getting a handle on counterparty risk are enough to unnerve even the most intrepid of investors. ... Full Story Top Canada won't confirm it's pulling out of Kyoto Mon,28 Nov 2011 02:28 PM PST Reuters - OTTAWA (Reuters) - Canada dismissed the Kyoto Protocol on climate change on Monday as a thing of the past, but declined to confirm a media report it will formally pull out of the international treaty before the end of this year. Although the Conservative government walked away from its Kyoto obligations years ago, a formal withdrawal would deal a symbolic blow to global talks to save the agreement, which opened in Durban, South Africa on Monday. ... Full Story Top Fitch warns of U.S. downgrade if no budget deal in 2013 Mon,28 Nov 2011 02:23 PM PST Reuters - NEW YORK (Reuters) - Fitch Ratings gave the United States until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit before it downgrades the country's coveted AAA rating. The ratings agency said on Monday it revised to negative from stable the outlook on the U.S. credit rating after a special congressional committee failed last week to agree on at least $1.2 trillion in deficit-reduction measures. "The negative outlook reflects Fitch's declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path and secure the U.S. ... Full Story Top Stalin's daughter Svetlana dies in Wisconsin Mon,28 Nov 2011 02:14 PM PST Reuters - CHICAGO (Reuters) - The only daughter of Soviet dictator Josef Stalin, Svetlana Peters, who denounced communism after a Cold War defection worthy of a novel, has died in Wisconsin, authorities said on Monday. She died November 22, age 85, from colon cancer, according to Benjamin Southwick, the county attorney in Richland County, Wisconsin. He said the county coroner had confirmed her death. Svetlana had settled in central Wisconsin after marrying architect William Peters, an apprentice to Frank Lloyd Wright, in 1970. ... Full Story Top

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