General investigated for emails to Petraeus friend
















PERTH, Australia (AP) — In a new twist to the Gen. David Petraeus sex scandal, the Pentagon said Tuesday that the top American commander in Afghanistan, Gen. John Allen, is under investigation for alleged “inappropriate communications” with a woman who is said to have received threatening emails from Paula Broadwell, the woman with whom Petraeus had an extramarital affair.


Defense Secretary Leon Panetta said in a written statement issued to reporters aboard his aircraft, en route from Honolulu to Perth, Australia, that the FBI referred the matter to the Pentagon on Sunday.













Panetta said that he ordered a Pentagon investigation of Allen on Monday.


A senior defense official traveling with Panetta said Allen’s communications were with Jill Kelley, who has been described as an unpaid social liaison at MacDill Air Force Base, Fla., which is headquarters to the U.S. Central Command. She is not a U.S. government employee.


Kelley is said to have received threatening emails from Broadwell, who is Petraeus’ biographer and who had an extramarital affair with Petraeus that reportedly began after he became CIA director in September 2011.


Petraeus resigned as CIA director on Friday.


Allen, a four-star Marine general, succeeded Petraeus as the top American commander in Afghanistan in July 2011.


The senior official, who discussed the matter only on condition of anonymity because it is under investigation, said Panetta believed it was prudent to launch a Pentagon investigation, although the official would not explain the nature of Allen’s problematic communications.


The official said 20,000 to 30,000 pages of emails and other documents from Allen’s communications with Kelley between 2010 and 2012 are under review. He would not say whether they involved sexual matters or whether they are thought to include unauthorized disclosures of classified information. He said he did not know whether Petraeus is mentioned in the emails.


“Gen. Allen disputes that he has engaged in any wrongdoing in this matter,” the official said. He said Allen currently is in Washington.


Panetta said that while the matter is being investigated by the Defense Department Inspector General, Allen will remain in his post as commander of the International Security Assistance Force, based in Kabul. He praised Allen as having been instrumental in making progress in the war.


The FBI’s decision to refer the Allen matter to the Pentagon rather than keep it itself, combined with Panetta’s decision to allow Allen to continue as Afghanistan commander without a suspension, suggested strongly that officials viewed whatever happened as a possible infraction of military rules rather than a violation of federal criminal law.


Allen was Deputy Commander of Central Command, based in Tampa, prior to taking over in Afghanistan. He also is a veteran of the Iraq war.


In the meantime, Panetta said, Allen’s nomination to be the next commander of U.S. European Command and the commander of NATO forces in Europe has been put on hold “until the relevant facts are determined.” He had been expected to take that new post in early 2013, if confirmed by the Senate, as had been widely expected.


Panetta said President Barack Obama was consulted and agreed that Allen’s nomination should be put on hold. Allen was to testify at his confirmation hearing before the Senate Armed Services Committee on Thursday. Panetta said he asked committee leaders to delay that hearing.


NATO officials had no comment about the delay in Allen’s appointment.


“We have seen Secretary Panetta‘s statement,” NATO spokeswoman Carmen Romero said in Brussels. “It is a U.S. investigation.”


Panetta also said he wants the Senate Armed Services Committee to act promptly on Obama’s nomination of Gen. Joseph Dunford to succeed Allen as commander in Afghanistan. That nomination was made several weeks ago. Dunford’s hearing is also scheduled for Thursday.


___


Associated Press writer Slobodan Lekic in Kabul, Afghanistan, contributed to this report.


Asia News Headlines – Yahoo! News



Read More..

RIM to release new BlackBerrys soon after Jan. 30
















TORONTO (AP) — Research In Motion Ltd. will release its much-delayed BlackBerry 10 smartphones “not too long” after a launch event on Jan. 30, a senior executive said Tuesday.


Chief Operating Officer Kristian Tear said the company is still fine-tuning the new phones.













The new phones are seen as critical to RIM‘s survival as the smartphone pioneer struggles in North America to hold on to customers who are abandoning BlackBerrys for flashier iPhones and Android phones. The new BlackBerry 10 system is designed for the touch screen, Internet browsing and apps experience that customers now expect. RIM’s current software is still focused on email and messaging and is less user-friendly, agile and robust than iPhone or Android.


On Monday, RIM said details on the BlackBerry 10, including specific availability, will be announced at the event. A touch-screen-only device is expected to be released first followed shortly after by a version with a physical keyboard. Many people still gravitate to BlackBerrys specifically for their physical keyboards, and RIM hasn’t succeeded in the past with touch-only offerings.


Tear said RIM wants to be the No. 1 mobile computing platform, despite the dominance of Apple and Android. He said the Waterloo, Ontario-based company believes it can compete with Silicon Valley because it has access to a lot of talented people and two great universities in the area. He said he’s been involved in two turnarounds before with Sony Ericsson and Ericsson and believes in RIM’s new management.


“It’s not going to be easy,” Tear said. “But everybody is super-focused and super-commited. We’re going to show the world that we are turning this around.”


Steve Zipperstein, RIM’s new chief legal officer, said RIM invented the smartphone and has been the innovator in the mobile space for a long time.


“We’re not going away,” Zipperstein vowed. “We’re going to succeed with BB 10. We’re going to impress our customers. We’re going to fight every day.”


Tear and Zipperstein were hired this past summer by CEO Thorsten Heins, who took over RIM in January after it lost tens of billions of dollars in market value. Heins had vowed to do everything he could to release BlackBerry 10 this year but said in June that the timetable wasn’t realistic. The new BlackBerrys will be released after the holiday shopping season and well after Apple’s September launch of the iPhone 5.


Heins is counting on BlackBerry 10 for a turnaround.


RIM’s platform transition is happening under a new management team and as RIM lays off 5,000 employees as part of a bid to save $ 1 billion this year.


RIM was once Canada‘s most valuable company with a market value of more than $ 80 billion in 2008, but the stock has plummeted since, from over $ 140 per share to around $ 8. Its decline evokes memories of Nortel, another former Canadian tech giant, which declared bankruptcy in 2009.


RIM’s stock fell 41 cents, or 4.7 percent, to close at $ 8.40 Tuesday in New York after rising as high as $ 9.07 the previous day, when RIM announced its Jan. 30 launch date.


Gadgets News Headlines – Yahoo! News



Read More..

Petraeus enlisted for cameo in ‘Call of Duty’ game
















LOS ANGELES (AP) — David Petraeus has landed on his feet with a new gig in “Call of Duty: Black Ops II.”


The retired Army general who stepped down as CIA director last week amid a scandal surrounding his extramarital affair pops up in the highly anticipated Activision Blizzard Inc. first-person shooter game released Tuesday.













A character with Petraeus’ name and likeness voiced by Jim Meskimen briefly appears as the Secretary of Defense in the year 2025.


The cameo was first reported by the gaming site Kotaku.com.


“Call of Duty” games have often employed virtual renditions of political figures.


“Black Ops II” also features an encounter with Manuel Noriega, a female president resembling current Secretary of State Hillary Rodham Clinton, an aircraft carrier named the USS Barack Obama and an appearance by retired Lt. Col. Oliver North.


Entertainment News Headlines – Yahoo! News



Read More..

Concussions and stricter rules taking their toll
















MIAMI (Reuters) – Three teams begin preparation for games this weekend unsure if their starting quarterback will be cleared to play as the league’s stricter concussion rules start to bite.


The NFL has been concerned about the health implications from concussions and brain injuries and introduced a clearly defined series of steps that teams have to follow when players suffer knocks to the head.













In order to return to action the following week, concussed players have to be cleared by an independent neurologist.


The tougher stance from the NFL came against the backdrop of legal action brought by former players, who suffered what they say were long term effects of concussions, and a Congressional hearing on head injuries in American football.


An illustration of the new rules is none more evident than next Monday’s game between the Chicago Bears and San Francisco 49ers, which could now feature two back-up quarterbacks after both teams lost their starters on Sunday to head injuries.


Jay Cutler of the Bears was forced to exit Sunday’s 13-6 defeat to the Houston Texans at half-time after showing symptoms of concussion following a helmet-to-helmet hit from Houston’s Tim Dobbins.


Cutler came back in after the hit, taking seven more snaps before the Bears said concussion-like symptoms became evident.


Several reports said the NFL had reviewed the Bears’ handling of the situation and agreed they had followed the protocol correctly.


But Bears head coach Lovie Smith said that even without the rules he would not have sent a dizzy Cutler back on the field.


“If a player has a concussion or any injury he’s not going back in the game. It’s as simple as that,” said Smith.


“We’ll never put a guy at risk. No game is that important for us. The players’ health always comes first with us,” added Smith.


Jason Campbell, who completed 11 of 19 passes, putting up 94 yards in tricky, wet conditions, will start if Cutler is not ready.


“It’s tough but that’s why you bring in a veteran like Jason Campbell who has played ball,” smith said.


“In the NFL injuries happen and you have to be ready. Jason is a pro,” he said, adding that the eight-year veteran usually only took a quarter of the snaps in practice.


San Francisco quarterback Alex Smith also went out with concussion during the 24-24 tie with the St. Louis Rams on Sunday after taking a couple of hits.


Smith complained of blurry vision and was replaced by second-year Colin Kaepernick who produced 11 of 17 for 117 yards with 66 rushing yards and a seven yard touchdown run.


“I thought he handled himself pretty well, overall I thought he had a solid performance,” 49ers head coach Jim Harbaugh said of Kaepernick.


It is a sign of how seriously teams take the rules and the threat of sanction that both have been at pains to point out while their players recovered to take more snaps, coaching and medical staff followed the rules in bringing a player out once concussion symptoms were identified.


Symptoms included in the NFL‘s rules include a gap in memory, persistent dizziness, headaches and an inability to remember assignments or plays.


Previously the NFL‘s rules stopped a player from returning to action on the same day only if he lost consciousness.


In the third case, Philadelphia Eagles’ Michael Vick suffered what his coach Andy Reid called on Monday a “pretty significant concussion” in the defeat to the Dallas Cowboys and said the player’s memory of what happened was “foggy”.


Vick was told to rest at home after suffering the injury in the second quarter and Reid may well have to turn to back-up Nick Foles for his first start against the Washington Redskins.


(Editing by Greg Stutchbury)


Health News Headlines – Yahoo! News



Read More..

New Greece plan ’32bn euros more’

















A draft document prepared for eurozone finance ministers suggests that Greece should be given two more years to meet budget goals, but that this will add 32.6bn euros ($ 41.4bn) to its bailout.













Eurozone finance ministers have met in Brussels to discuss new targets for Greece based on the report.


The ministers also delayed a decision on whether to release the latest 31.5bn euro tranche of bailout funds.


They said they would meet again to discuss the issue on 20 November.


Greece has been pushing for the funds after passing a tough budget for 2013 on Sunday.


Greek PM Antonis Samaras has warned that without the new tranche the country will run out of money within days.


But the eurozone ministers said Greece needed to implement a “few remaining” prior actions to allow the process to move forward.


‘Smoother path’


The draft document on the pace of Greek economic reform was prepared by the so-called “troika” – the International Monetary Fund, the European Central Bank and the European Commission.


The troika has already pledged 240bn euros in bailout loans to Greece.


The two-year extension would give Greece time to achieve a primary budget surplus – a figure that would not include debt-financing costs.


Continue reading the main story
  • Retirement age up from 65 to 67

  • A further round of pension cuts, of 5-15%

  • Salary cuts, notably for police officers, soldiers, firefighters, professors, judges, justice officials; minimum wage also reduced

  • Holiday benefits cut

  • 35% cut to severance pay

  • Redundancy notice reduced from six to four months


The document says: “Our revised fiscal programme targets the 4.5% of GDP primary surplus target by 2016, two years later than foreseen.


It adds: “The smoother path will help to moderate the impact of fiscal adjustment on the economy.”


The extension would cost an additional 32.6bn euros and comes with “very large” risks, the report says.


Those risks include the uncertain political support for the programme within Greece, the possible negative effect on the economy of the fiscal consolidation and possible court challenges to the measures.


The BBC’s Chris Morris in Brussels says the original intention was for debt to be reduced to 120% of GDP by 2020 but that this is no longer feasible and a new target needs to be agreed by everyone.


He says this means more uncertainty, at a time when many Greek citizens believe they have taken all the austerity they can swallow.


Market fund-raising


Eurogroup chief Jean-Claude Juncker had earlier expressed optimism about the troika report.


“The basis is positive, because the Greeks have really delivered,” he said.


Greek MPs approved the 2013 budget, which includes further cuts to pensions and wages, in a vote on Sunday night.


More than 10,000 people joined demonstrations outside Greece’s parliament to protest against the cuts.


The passing of the budget was a pre-condition for Athens to be granted the next tranche of 31.5bn euros of EU/IMF loans necessary to stave off bankruptcy.


Greece faces a repayment deadline for 5bn euros of debt on Friday.


However, eurozone ministers had indicated it was unlikely a decision on the disbursement of the tranche would be made at Monday’s meeting.


The funding will have to be approved first by some national parliaments, including Germany’s.


“We all… want to help Greece, but we won’t be put under pressure,” German Finance Minister Wolfgang Schaeuble told the weekly newspaper Welt am Sonntag.


On Tuesday, Greece will make an urgent bid to raise funds from the financial markets in case it does not get the tranche of bailout money.


The national economy is expected to shrink next year by 4.5% and public debt is likely to rise to 189% of GDP, almost double Greece’s national output.


This year, public debt stood at 175%.


The head of Syriza, a left-wing opposition party, said the budget cuts would leave Greeks unable to afford essential goods this winter.


BBC News – Business



Read More..

Canada seen needing to spell out rules for natural gas projects
















CALGARY, Alberta (Reuters) – The fate of a handful of liquefied natural gas projects planned for Canada’s Pacific coast may depend on the Canadian government‘s willingness to spell out rules for foreign investment in the country’s energy sector, according to a study released on Thursday.


Apache Corp, Royal Dutch Shell Plc, Petronas, BG Group Plc and others are in the planning stages for LNG projects that would take gas from the rich shale fields of northeastern British Columbia and ship it to Asian buyers.













But the federal government’s decision last month to stall the C$ 5.2 billion ($ 5.2 billion) bid by Malaysia’s state-owned Petronas C$ 5.2 billion for Canada‘s Progress Energy Resources Corp could lessen the appetite of Asian buyers for Canadian LNG, energy consultants Wood Mackenzie said.


“Some potential off-takers of Canadian LNG like the idea … because it’s perceived as having low political risk, and another reason is because they see the potential for investment opportunities,” said Noel Tomnay, head of global gas at the consultancy.


“If there are going to be restrictions on how they access those opportunities, if acquisitions are closed to them, then clearly that would restrict the attractiveness of those opportunities. If would-be Asian investors thought that corporate acquisitions were an avenue that was not open to them then Canadian LNG would become less attractive.”


The Canadian government is looking to come up with rules governing corporate acquisitions by state-owned companies and has pushed off a decision on the Petronas bid as it considers whether to approve the $ 15.1 billion offer for Nexen Inc from China’s CNOOC Ltd.


Exporting LNG to Asia is seen as a way to boost returns for natural-gas producers tapping the Montney, Horn River and Liard Basin shale regions of northeastern British Columbia.


Though Wood Mackenzie estimates the fields contain as much as 280 trillion cubic feet of gas, they are far from Canada’s traditional U.S. export market, while growing supplies from American shale regions have cut into Canadian shipments.


Because the region lacks infrastructure, developing the resource will be expensive, requiring new pipelines and multibillion-dollar liquefaction.


Still Wood Mackenzie estimates that the cost of delivery into Asian markets for Canadian LNG would be in the range of $ 10 million to $ 12 per million British thermal units, similar to competing projects in the United States and East Africa.


($ 1 = $ 1.00 Canadian)


(Reporting by Scott Haggett; Editing by Leslie Adler)


Canada News Headlines – Yahoo! News



Read More..

Ads are Invading Gadgets and Apps that You Already Paid For
















Most of us are used to seeing ads on stuff that we get for free, like smartphone and tablet apps or online news websites. But you’re probably also used to being able to pay to remove ads, whether by getting the premium version of an app or even upgrading to a new computer that doesn’t have so much garbage on it.


As it turns out, this strategy doesn’t work so well anymore. That’s because companies are starting to put “special offers” all over things that you buy … and this time, it’s not just the usual preinstalled trashware. Here’s a look at some of the latest strikes in the war for your attention.













Microsoft: Xbox Music and Xbox Live


Last year’s redesign of the Xbox 360 dashboard featured prominent ads, including videos that played automatically, even if you were paying for a $ 60/year Xbox Live Gold membership. This year, Microsoft introduced its new Xbox Music Pass, which allows you to stream millions of songs to your Xbox 360 or Windows 8 PC. It has an ad-supported free trial mode, which lets you listen to songs (and ads) for free for the first six months before imposing a monthly listening limit.


But according to Neowin.net editor Owen Williams, the ads stay even if you pay $ 99 per year for the subscription service. On top of that, you can’t use Xbox Music on the actual Xbox at all (beyond a 30-day trial) unless you also​ pay for an Xbox Live Gold Subscription. That’s almost $ 160 per year for two separate subscriptions, and in return you apparently get twice the ads.


​Microsoft: Windows 8


If the ads in the Xbox Music service aren’t enough, Microsoft has also put ads all over its Windows 8 operating system. Whether you buy a new Surface tablet or you pay for the upgrade from Windows 7 such as through buying a separate boxed copy, you still have to contend with ads in “many of the bundled [Modern] UI applications,” according to Williams.


Amazon: The entire Kindle lineup


Amazon began selling Kindle e-readers with “special offers” a while back. These appeared on the lock screen, and replaced the normal screen saver, which was more literary.


When Amazon announced its new lineup of Kindle Fire HD tablets not too long ago, it turned out that every single one of them had advertisements. Not just on the lock screen, but now even in a corner on the home screen while you’re browsing through your books and apps.


At the time, Amazon wasn’t offering any way to get rid of these ads on the new Kindle Fire HD, but the company now gives people the option to buy Kindles sans ads for an extra $ 15. That won’t help you with in-app ads, though, if you use free apps.


Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.


Linux/Open Source News Headlines – Yahoo! News



Read More..

U2′s Bono to urge U.S. politicians not to cut aid programs
















WASHINGTON (Reuters) – Irish rocker and anti-poverty campaigner Bono will appeal to Democrats and Republicans during a visit to Washington this week to spare U.S. development assistance programs from cuts as Congress tries to avert the looming “fiscal cliff” of tax hikes and spending reductions early next year.


The U2 lead singer’s visit comes as the Obama administration and congressional leaders try to forge a deal in coming weeks to avoid the economy hitting the “fiscal cliff” – tax increases and spending cuts worth $ 600 billion starting in January if Congress does not act.













Analysts say the absence of a deal could shock the United States, the world’s biggest economy, back into recession.


Kathy McKiernan, spokeswoman for the ONE Campaign, said Bono will hold talks with congressional lawmakers and senior Obama administration officials during the November 12-14 visit.


During meetings he will stress the effectiveness of U.S. foreign assistance programs and the need to preserve them to avoid putting at risk progress made in fighting HIV/AIDS, tuberculosis and malaria, she said.


Bono, a long-time advocate for the poor, will argue that U.S. government-funded schemes that support life-saving treatments for HIV/AIDS sufferers, nutrition programs for malnourished children, and emergency food aid make up just 1 percent of the U.S. government budget but are helping to save tens of millions of lives in impoverished nations.


The One Campaign would not elaborate which lawmakers and senior Obama administration officials Bono will meet.


On Monday, Bono will discuss the power of social movements with students at Georgetown University. He will also meet new World Bank President Jim Yong Kim for a web cast discussion on Wednesday on the challenges of eradicating poverty.


(Editing by W Simon)


Music News Headlines – Yahoo! News



Read More..

Boy Donates Bar Mitzvah Money to Fund Veterans’ Reconstructive Surgeries
















At a time when he’s supposed to be celebrating himself, 13-year-old Josh Neidorf decided to make his bar mitzvah about celebrating those who serve their country. As a result, he donated most of  his bar mitzvah money to Operation Mend, a groundbreaking program out of UCLA that repairs extreme injuries and disfigurements in soldiers returning from Iraq and Afghanistan.


Before anyone shrugs off the gesture as a boy giving up the equivalent of his allowance for a good cause, rest assured Neidorf gave away much more than that. The Associated Press reports this child personally donated $ 13,000 to the medical facility. 













Neidorf explained his decision to local news outlet, KCAL9, “I just love knowing that it’s going somewhere to help the people who save our lives and keep us safe everyday.”


Operation Mend is a privately-funded program that was founded in 2007, by philanthropist Ron Katz. According to The Huffington Post, Katz was inspired by the news of returning vet Aaron Mankin and the dozens of surgeries he would need to repair an explosives injury to his face.  Mankin eventually became the first Operation Mend patient.


Katz told the Post, “My wife and I soon realized that there were dozens of Aarons out there. These men and women deserve not only the best that the defense sector has to offer, they deserve the best that the private sector has to offer as well.”


Though it started with plastic reconstruction, Operation Mend has expanded to include a host of other highly technical specialties including orthopedic reconstruction, airway reconstruction and mental health programs for both soldiers and their caregivers.


Veterans face some incredible odds upon their return to civilian life, chief among them being their health issues. Of the 2 million veterans from Iraq and Afghanistan who’ve already returned home, the Los Angeles Times reports most endure recurring issues from physical trauma that include post-traumatic stress disorder (PTSD), hearing loss and tinnitus, and head injuries. 


Operation Mend may be small in terms of the number of patients it can serve at any time (it will have served 72 this year), but it provides a place for our most severely injured to be treated by the nation’s most skilled medical staff using the latest in advanced techniques.


Obviously our returning soldiers are the most deserving of ample and expert medical care. But adopting veteran care as a cultural priority clearly has positive results for all of us. Children like Joshua Neidorf learn and can demonstrate real generosity and people in general come to understand we’re so much stronger when we refuse to leave any of our own behind.


Are you a veteran or the loved one of a returning soldier? What would you like to see provided for them to make the transition to civilian life smoother? 


Related stories on TakePart


• 9 Military Animals


• A Fair Education? Military Kids Struggle With New Schools, Red Tape, and High Stress


• Celebs Who Served in the Military



A Bay Area native, Andri Antoniades previously worked as a fashion industry journalist and medical writer.  In addition to reporting the weekend news on TakePart, she volunteers as a web editor for locally-based nonprofits and works as a freelance feature writer for TimeOutLA.com. Email Andri | @andritweets | TakePart.com


Health News Headlines – Yahoo! News



Read More..

Japan’s economy shrinks 3.5 percent in 3rd quarter
















TOKYO (AP) — Japan‘s economy contracted in July-September, its first contraction in three quarters, foiling hopes for a rebound and signaling to many economists it may already be in recession.


The minus 3.5 percent annual growth rate for the quarter reported Monday was in line with gloomy forecasts for the world’s third-largest economy, which has suffered as a territorial dispute with China hammered exports already weakened by feeble global demand.













Based on the most recent data, economists are forecasting a further decline in October to December, which would officially put Japan in recession, marked by two consecutive quarterly contractions.


The government also said Monday that consumer spending fell 0.5 percent as subsidies for auto purchases expired and corporate capital spending fell 3.2 percent. Spending on reconstruction from the country’s March 2011 disasters has also weakened.


The drop for the current quarter may not be as severe as that in July-September.


“How far is hard to tell,” said David Rea, an economist in London with Capital Economics, adding that the decline could be a couple of percentage points.


“If the economy does recover in any way it will be a minute rebound,” he said.


More than two decades after Japan’s asset bubble burst in the early 1990s, its policymakers have yet to devise an effective strategy to help the economy break out of its deflationary funk. Meanwhile, the Japanese yen remains stubbornly high, discouraging its companies from investing either at home or abroad and undermining its export competitiveness, especially against rivals Germany and South Korea.


Strangled by weak consumer spending and public investment, the economy grew at an anemic 0.7 percent annual pace in April-June, according to figures that were revised down by half from the originally reported 1.4 percent.


Until recently, the government was still forecasting growth at about 2 percent for the year. It earlier was predicting a turnaround late in the year, but the renewed tensions with China over disputed islands in the East China Sea, coupled with sluggish growth in Europe and other key export markets, have doused hopes for a significant rebound before 2013.


A slew of dismal recent data releases offers little encouragement.


Squeezed by surging costs for imported fuel and sinking exports, Japan’s current account surplus plunged to 2.72 trillion yen ($ 34 billion) in April-September, its lowest level since monthly data began in 1985, as the trade deficit surged.


Although Japan will likely continue to run current account surpluses for some time to come, its decline is a stark reminder of the country’s persisting reliance on exports to support its energy-intensive standard of living through massive imports of food, fuel and other resources.


Adding to the squeeze on pocketbooks from hikes in electricity rates, winter bonuses are falling by an average of 4 percent this year.


Machinery orders for September fell twice as fast as expected. Meanwhile, the job market weakened, likely hurting prospects for stronger consumer spending to help offset weak exports. Slower-than-anticipated government spending on reconstruction has further undermined demand.


Japan’s local governments are running short of funds as lawmakers dicker over legislation needed to authorize bonds to pay for deficit financing.


Though the government and opposition parties look likely to reach a compromise on financing that would avert Japan’s own version of a “fiscal cliff,” the standoff has done little to inspire confidence in the potential for a strong rebound, says Klaus Baader, a regional economist with Societe Generale Cross Asset Research in Hong Kong.


Economy News Headlines – Yahoo! News



Read More..