Monday, October 22, 2012

Slim hope of Syria truce during Muslim holiday: Arab League


DUBAI, United Arab Emirates: Hopes of a ceasefire being implemented in war-torn Syria during the upcoming Muslim Eid holidays are "slim," the Arab League's deputy secretary general Ahmed Ben Helli told AFP on Monday.
Speaking on the sidelines of the World Energy Forum in Dubai, Ben Helli said a truce was increasingly unlikely "because the signs, both on the ground and by the government ... do not point to the presence of any real will" to implement a ceasefire.
"Unfortunately, hope for implementing the truce during Eid al-Adha are slim so far," he said, adding that efforts however, "are being made at all levels."
UN-Arab League peace envoy Lakhdar Brahimi on Sunday appealed to both sides of the Syrian conflict to observe a truce during the four-day Eid al-Adha holiday, which begins on Friday.
Brahimi has visited several countries with influence in the Syrian conflict over the past week, including Lebanon and Iran, warning that the violence could spread and set the entire region ablaze.
The revolt against Syrian President Bashar al-Assad has entered its 20th month with the death toll estimated at more than 33,000.

BP closing in on Rosneft deal


BP is closing in on a deal that would result in the sale of most of its Russia-based assets to Rosneft, a state-owned oil and gas company with close ties to the government of Vladimir Putin.
BP said Monday it was in "advanced discussions" regarding the sale of its 50% stake in TNK-BP, and named Rosneft as the potential buyer.
The TNK-BP partnership has been a lucrative one for BP. But the relationship has been difficult at times. BP's Russian offices have been raided frequently, and TNK has in the past blocked BP from doing business with Rosneft.
Completing the sale would help simplify BP's (BP) operations in Russia, a country in which the central government increasingly exerts influence in the oil and gas industry. BP would likely receive a stake in Rosneft, and possibly a board seat.
The sale also fits broadly into the strategy pursued by BP CEO Bob Dudley in the wake of the Deepwater Horizon spill disaster in the Gulf of Mexico. The company has been unloading assets, including the sale of $7 billion in oil and gas assets to oil firm Apache.
Related: Why its Russian mess should not surprise BP
While no final agreement has been announced, the New York Timesreported Sunday that BP's board has approved the sale to Rosneft, and has provided BP CEO Robert Dudley with negotiating parameters.
U.S.-listed shares of London-based BP increased 3% in recent days as rumors about the deal circulated in the media and on trading floors.

Lebanon sees overnight clashes after Hassan funeral


The most serious confrontations were in the northern city of Tripoli, where at least three people were killed.
In Beirut, gunmen exchanged fire and police used tear gas to disperse crowds outside the prime minister's office.
Gen Hassan and at least two other people were killed in a car bomb attack in the capital on Friday.
The head of the intelligence branch of the Internal Security Forces had been an outspoken critic of the government of Bashar al-Assad in neighbouring Syria and its allies in Lebanon, and Lebanese opposition figures have blamed Damascus for the attack.
They have called on Prime Minister Najib Mikati to resign. He offered to do so on Saturday but President Michel Suleiman asked him to stay on in the national interest.
Girl killed
Thousands of people attended Gen Hassan's state funeral in Beirut on Sunday, which rapidly became a political rally against both Mr Mikati and Syria.
Addressing the funeral, former Prime Minister Fouad al-Siniora, a prominent member of the Western-backed 14 March opposition alliance, blamed the government for his death, and said it must stand down, insisting: "No dialogue over the blood of our martyrs."
A group of angry protesters broke away from the funeral, held at the Rafik Hariri mosque, and attempted to storm the prime minister's office. Police fired into the air and used tear gas to break up the crowds.
Later, in southern districts of the capital, security forces and gunmen exchanged fire.
More serious clashes were reported in Tripoli on Sunday evening, where a nine-year-old girl was among three people killed. Reports say the girl was hit by sniper fire.
Mr Siniora subsequently called for calm and condemned the violence as no way to try to replace a government.
Dozens of people have set up camp outside Mr Mikati's office building, calling for Mr Mikati's cabinet - which is dominated by the pro-Syrian Shia Islamist movement Hezbollah and its allies - to stand down.
One of the protesters, Ahmad Jardali, said they were peaceful but wanted the government to go "in order not to have more assassinations and to have security in the country".
The US has said it will help the Lebanese government with its investigation into the Beirut bombing.
Gen Hassan, 47, was close to the 14 March alliance and the family of its leader, former Prime Minister Saad Hariri.
The intelligence chief led an investigation into the 2005 assassination of Mr Hariri's father, Rafik - for which four Hezbollah members have been indicted by a UN-led tribunal - and had recently organised the arrest of Michel Samaha, a former minister accused of planning a Syrian-sponsored bombing campaign in Lebanon.
Syrian troops withdrew from Lebanon in the wake of Rafik Hariri's murder, ending a 29-year military presence.
The BBC's Wyre Davies reports that there are concerns in Beirut that Damascus is able to reach into Lebanese society both directly and through its allies.

Police chief: Wisconsin spa shooting suspect died of self-inflicted wound


A Wisconsin man who had been accused of domestic violence and slashing his wife's tires took a gun into the spa where she worked Sunday and shot seven women, three fatally, before killing himself, a police chief said.
The shootings set off a confusing, six-hour search for the gunman that locked down a nearby mall, a country club adjacent to the spa and the hospital where the survivors were taken. The search froze activity in a commercial area in Brookfield, a middle-to-upper class community west of Milwaukee, for much of the day. Ultimately, he was found dead in the spa.
The man they identified as the suspect, Radcliffe Franklin Haughton, 45, of Brown Deer, had a restraining order against him. Haughton grew up in Wheeling and Northbrook, according to his father.
Authorities said it would take time to sort out exactly what happened, and emphasized they were still interviewing witnesses and rescuers and did not have a firm timeline of events. At a news conference Sunday night, Mayor Steve Ponto called the shootings "a senseless act on the part of one person."
The chaos started around 11 a.m. at the Azana Day Spa, a two-story, 9,000-square-foot building across from a major shopping mall. The first officers on the scene found the building filled with smoke from a fire authorities believe was set by  Haughton, Brookfield Police Chief Dan Tushaus said.
The mall, a country club adjacent to the spa, a nearby hospital and other buildings were locked down as police searched for Haughton.
They also found a 1-pound propane tank they initially thought might be an improvised explosive device, Tushhaus said. That slowed the search of the building as law enforcement agents waited for a bomb squad to clear the scene.
Tushaus said later that police didn't know whether the gunman brought the propane tank to the spa or it was left by a contractor.
The bodies of the victims were also found in the spa. Tushaus said investigators were still working to identify them. He said the four survivors were between the ages of 22 and 40. He didn't know if they were employees at the spa or customers, and it wasn't clear if the man's wife was among the victims.
 Shortly before authorities said Haughton's body had been found, his father, Radcliffe Haughton, Sr., told The Associated Press and a television station in telephone interviews from Florida that he had last spoken to his son a few days ago, but didn't have any indication anything was wrong.
He said then that he had a message for his son: "Please just turn yourself in or contact me."
When reached by the Chicago Tribune, Haughton Sr. said he had not heard that his son had been found dead.
"I don't know nothing, I'm in Florida," said Haughton Sr.
Haughton Sr. said his son grew up in Wheeling and Northbrook and said his son lived in Wisconsin. He said his son's actions don't represent the family's values.
"It's not the family, the family don't believe in this," said Haughton Sr.
Tushaus said officers initially focused on reaching and helping the victims. The victim's names were not released by authorities, and a hospital treating the victims also was put on lockdown. Staff members were being escorted into the building, and critically injured patients were being accepted with a police escort. Officers were stationed at all main entrances to the facility.
A sea of ambulances and police vehicles collected at the scene shortly after the shooting. A witness, David Gosh of nearby West Allis, told the Milwaukee Journal-Sentinel he was returning from duck hunting with his father and a friend when he saw a woman emerge from the spa, screaming, as she ran into traffic. The area is near an interstate and a busy commercial road.
"She ran right out into the street was pounding on cars," Gosh told the newspaper. He said that moments later, a man with a handgun ran out, and appeared to be chasing her, then went back inside.
People inside the mall were patiently awaiting updates, and for word they could leave. Gina Kralik, a bartender at Red Robin Gourmet Burgers in the mall, said by telephone that the restaurant was still locked down as of about 3 p.m. She said 18 people were there -- all employees except for a couple reporters who managed to get in. She said people were allowed to leave at one point, but then the police decided not to let anyone come or go from the mall.
"We're just sitting watching the news and also trying to find out what's going on," she said.
Police released little about Haughton other than a physical description and a photo. They said he was wearing a grey sweater, jeans, and carrying a white and black backpack. They said he was 6-foot-2, and more than 200 pounds.
Online court records showed a temporary restraining order was issued against Haughton in Milwaukee County Circuit Court on Oct. 8 because of a domestic abuse complaint. Haughton appeared in court Thursday, when a no-contact order was issued and he was told to turn all his weapons over to the sheriff's department.
Authorities said Haughton had slashed his wife's tires two weeks before Sunday's shooting and that his wife was an employee at the spa. It is not clear if she was among the victims.
It was the second mass shooting in Wisconsin this year. Wade Michael Page, a 40-year-old Army veteran and white supremacist, killed six people and injured three others before fatally shooting himself Aug. 5 at a Sikh temple south of Milwaukee.
The shooting at the mall took place less than a mile from where seven people were killed and four wounded on March 12, 2005, when a gunman opened fire at a Living Church of God service held at a hotel.

Friday, October 19, 2012

Europe Advances Towards Single Banking Supervisor


European Union leaders took a big stride towards establishing a single banking supervisor for the euro zone, agreeing it would enter into force next year, opening the way for the bloc's rescue fund to inject capital directly into ailing banks.
European Council President Herman Van Rompuy said the 27 leaders agreed at a Brussels summit to adopt a legal framework by the end of this year giving the European Central Bank overall responsibility for banking supervision.
"Once this is agreed, the single supervisory mechanism could probably be effectively operational in the course of 2013," he told a news conference after nearly 10 hours of talks.
French and EU officials said all 6,000 banks in the single currency area would gradually come under ECB supervision by 2014, starting with banks receiving state aid, then large cross-border institutions.
Most day-to-day oversight would be delegated to national bodies.
Creating an effective banking union, for which this deal was a first step, is regarded by the International Monetary Fund and market economists as a key component in overcoming the euro zone's three-year-old debt crisis.
French President Francois Hollande said the leaders did not discuss possible financial assistance for Spain, but he laid out a series of steps that could turn a corner in the crisis.
"Tonight, I have the confirmation that the worst is behind us," he told a 3 a.m. news conference.
"We are on track to solve the problems that for too long have been paralyzing the euro zone and made it vulnerable.
"If the December European summit confirms the decisions we took, if Greece finds a lasting solution, if Spain recovers funding mechanisms, then we will be done with a situation which weighed on markets and on the confidence in the euro zone." German Chancellor Angela Merkel said it would take more than a couple of months before the supervisor was fully effective and direct bank recapitalisation could be considered.
However, the agreement appeared to be a defeat for German Finance Minister Wolfgang Schaeuble's efforts to delay and limit the scope of European banking supervision.
Germany has been reluctant to see its politically sensitive savings and cooperative banks come under outside supervision.
It rejects any joint deposit guarantee under which richer countries might have to underwrite banks in poorer states.
The deal came after the leaders of France and Germany, Europe's central powers, held a private meeting after clashing in public over greater EU control of national budgets.
The point when the ECB will effectively become the bloc's banking supervisor is important because it would open the way for the euro zone's bailout fund to inject capital directly into troubled banks, without adding to their host governments' debts.
A French government source said the European Stability Mechanism (ESM) (explain this) could start recapitalizing troubled banks as early as the first quarter of 2013, but a German source said it was "very unlikely" to happen so soon.
Merkel earlier demanded stronger authority for the executive European Commission to veto national budgets that breach EU rules.
She said a December EU summit would take decisions on these issues of closer euro zone economic governance.
For once, the summit was not under intense pressure from financial markets, which have calmed since the ECB pledged last month to intervene decisively if needed to buy bonds of troubled euro zone states to preserve the euro.
"Fiscal Capacity"
The EU leaders issued a statement welcoming Greece's progress towards an agreement with its lenders and saying good progress had been made in putting the bailout back on track.
In Athens, police clashed with protesters, hurling stones and petrol bombs during a general strike that brought much of the near-bankrupt country to a standstill.
Merkel also advocated the creation of a European fund to invest in specific projects in member states which she said could be fuelled by a financial transaction tax which 11 euro zone countries have said they will adopt.
Her call echoed a proposal for the 17-member euro zone to have its own budget — known in EU jargon as a "fiscal capacity" — on top of the 27-nation union's common budget, which mostly funds agriculture and aid to poorer regions.
Several states, including the Netherlands, Finland and Austria, were uneasy at the idea but none rejected it outright.
Since the ECB said last month it was ready to buy the bonds of struggling euro zone states in unlimited amounts, state borrowing costs have fallen sharply, easing the immediate pressure for Spain to seek a bailout.
Spain's 10-year bond yields sank to their lowest since February at an auction on Thursday, helped by Moody's decision this week to leave its credit rating at investment grade.
But rather than signaling that Madrid does not need help, Moody's verdict was predicated on Spain soon applying for a euro zone assistance program to trigger ECB intervention.
Italy raised a bumper 18 billion euros from a four-year inflation-linked retail bond — the most ever raised in a single debt offering in European markets — reducing its need to issue debt before the end of this year.
On the banking union, much work remains to be done and the deeper the discussion union goes, the more complex and problematic it will get.
Countries outside the euro zone — particularly Britain, which has Europe's biggest banking sector — are concerned their banks could be disadvantaged if a balance is not maintained between the ECB and its oversight of euro zone banks and the powers of other authorities to oversee non-euro zone banks.
And if non-euro zone countries such as Poland join the banking union, as policymakers are hoping, it is unclear what representation they would have within the ECB, since the central bank is currently answerable only to euro zone member states.