Snow, sleet beginning to hit









A winter weather advisory has been issued for today as the Chicago area is getting hit with sleet, freezing rain and snow from a storm that churned the southern Plains a day earlier.


The heaviest snow is expected to fall between 3 p.m.  and 7 p.m., though the National Weather Service cautioned that a lot will depend on the temperatures.


North of I-80, snow accumulation could reach 3 to 6 inches by Wednesday morning. Some area could get 7 inches if the switch from rain to snow occurs sooner than expected, or if there is lake-enhanced snow.





South of I-80, including much of northwest Indiana, accumulation of less than 3 inches is possible because of an extended period of rain or a rain mixed with snow and sleet.


The storm bore down on the southern Plains on Monday, dumping more than a foot of snow and creating blizzard conditions in Oklahoma, Texas and parts of Kansas still digging out from a winter storm last week.


Highways in the Texas and Oklahoma panhandles and parts of Kansas were closed by the heavy and drifting snow that cut visibility and forced flight cancellations at airports across the region.


A man was killed Monday when his car slid off Interstate 70 in Sherman County, Kansas, near the western border, Governor Sam Brownback said. And in northern Oklahoma, one person died when the roof of a home partially collapsed in the city of Woodward, said Matt Lehenbauer, the city's emergency management director.


"We have roofs collapsing all over town," said Woodward Mayor Roscoe Hill Jr. "We really have a mess on our hands."


The storm was slowly moving out of Texas on Monday, while residents of Kansas City in turn were preparing for a foot or more of snow into Tuesday.


Tornado watches were in place Monday evening in parts of Mississippi and heavy rain was expected through the night in parts of Alabama and Georgia, according to the National Weather Service. The weather service Monday also issued flood watches for parts of the Carolinas and an ice storm warning for portions of West Virginia.


Some 17 inches of snow fell near Amarillo, Texas, according to the National Weather Service. Other areas in the Texas Panhandle reported more than a foot of snow and Texas Governor Rick Perry activated Texas military forces to be ready to respond to calls for assistance.


Amarillo could break the all-time record for the amount of snow in one day of just over 18 inches set in 1934, said Kristin Scotten of the National Weather Service.


Airports in Amarillo and in Lubbock, Texas, were closed and Interstate 27 between the cities was shut because of blowing snow, state officials said. Wind gusts of 75 miles per hour (121 km per hour) were clocked at the Amarillo airport.


Visibility was near zero on some roads around Amarillo, said Paul Braun, a Texas Department of Transportation spokesman.


"I am hearing that we have a lot of vehicles that are stalled in the main lanes of our roadways and they can't be seen because of the blowing snow," Braun said.


Texas State Trooper Gabriel Medrano said the snow was too deep to measure in Lubbock.


"We are having a lot of problems getting our troopers to these crash scenes," Medrano said. "Our troopers are getting stuck out there."


In Oklahoma, a state of emergency was declared for 56 of 77 counties, with northwest Oklahoma hit hardest in the storm. All highways in the Oklahoma panhandle were closed because of blizzard conditions.


Parts of northwestern Oklahoma could get 16 inches to 24 inches of snow, with high winds creating drifts up to 6 feet high, the National Weather Service said.


"It's the biggest in the last several years, really," said James Hand, emergency management director in the small town of Mooreland. "Last year, we didn't have anything to shovel."





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Dow, S&P slip after uncertain Italian election

NEW YORK (Reuters) - U.S. stocks mostly fell on Monday on fears that a divided parliament in Italy would get in the way of the country's reforms and hamper the euro zone's stability.


Election projections showed the center-right coalition led by former prime minister Silvio Berlusconi was leading in the race for the Italian Senate, contradicting initial exit polls and raising the specter of deadlock in parliament.


Earlier polls pointing to a center-left victory lifted stocks in Milan and other European markets on investors' belief that they would continue the path to pay down Italian debt, said Art Hogan, managing director of Lazard Capital Markets in New York.


"What we don't want to hear is a renewed fear about a euro- zone fracture," he said.


Last week, the benchmark S&P 500 closed below its 14-day moving average on Wednesday for the first time this year. At midday, the S&P 500 was trading just below that level, now near 1,515.


The index was, nonetheless, still near highs not seen in five years, as bets on a strong U.S. economy have given equities support. The S&P 500's slight fall last week was the first weekly drop after a seven-week string of gains.


Banks and other financial stocks led Monday's decline on concern about the sector's exposure to Italy's massive debt. The KBW Bank Index <.bkx> fell 0.7 percent.


The Dow Jones industrial average <.dji> slipped 18.58 points or 0.13 percent, to 13,981.99. The Standard & Poor's 500 <.spx> shed 2.30 points or 0.15 percent, to 1,513.30. But the Nasdaq Composite <.ixic> rose 3.03 points or 0.10 percent, to 3,164.85.


Barnes & Noble Inc shares climbed 11.9 percent to $15.12 after the bookseller's chairman offered to buy its declining retail business.


The Nasdaq received support from Amgen Inc , up 4.2 percent at $90.47, after a rival issued a voluntary recall of its only drug, an anemia treatment that competes with Amgen's top-selling red blood cell booster, Epogen.


The FTSEurofirst-300 index of top European shares <.fteu3> unofficially closed up 0.1 percent and Italy's main FTSE MIB <.ftmib> ended up 0.7 percent after earlier gaining near 4 percent.


U.S. equities will face a test with the looming debate over the so-called sequestration, U.S. government budget cuts that will take effect starting on Friday if lawmakers fail to reach an agreement over spending and taxes. The White House issued warnings about the harm the cuts are likely to inflict on the economy if enacted.


With 83 percent of the S&P 500 companies having reported results so far, 69 percent beat profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry and Jan Paschal)



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Indiana stays No. 1 in AP Top 25, Gonzaga No. 2


Indiana is No. 1 in The Associated Press' Top 25 for the fourth straight week, while Gonzaga moved to No. 2 for the first time in school history.


While the West Coast Bulldogs made some news at the top of the poll Monday, Louisiana Tech, the Bulldogs from Down South, moved into the rankings for the first time since a 13-week run in 1984-85, their only appearance in the poll.


Louisiana Tech, which is 25th this week, was led back then to a ranking as high as No. 7 by a forward named Karl Malone. Gonzaga at that time had a point guard named John Stockton. They went on to become one of the greatest combinations in NBA history with the Utah Jazz, were members of the Dream Team and both were inducted in the Naismith Memorial Basketball Hall of Fame.


The Hoosiers, who have been ranked No. 1 for a total of 10 weeks this season, received all but one first-place vote from the 65-member national media panel.


Gonzaga, which got the other No. 1 vote, was ranked third last week. The Bulldogs were also that high in the poll for the final two weeks of 2003-04.


Duke moved up three spots to third and is followed by Michigan and Miami, which dropped from second after falling to Wake Forest, the Hurricanes' first Atlantic Coast Conference loss this season.


Kansas is sixth, followed by Georgetown, Florida, Michigan State and Louisville.


Saint Louis, which beat Butler and VCU last week, moved into 18th in the poll, the Billikens' first ranking since being in for one week last season.


Colorado State, which was 22nd and lost twice last week, and VCU, which was 24th, dropped out.


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‘Vulcan’ and ‘Cerberus’ Win Pluto Moon Naming Poll






The votes are in, and it looks like ‘Vulcan‘ could be the new name for one of Pluto‘s smallest moons.


After weeks of online ballot casting by people around the world, the poll asking the public to name two of Pluto’s moons — currently called P4 and P5 — ended today (Feb. 25).






As of 12 p.m. (1700 GMT), the polls closed with a total of 450,324 total votes cast since Feb. 11 with ‘Vulcan,’ a Pluto moon name proposed by Star Trek’s William Shatner, is the clear winner. Vulcan nabbed roughly 160,000 votes, with Cerberus in clear second place with nearly 100,000 votes.


Vulcan was a late addition to the Pluto moon name contenders, and pulled into the lead after Shatner, building on his Capt. James T. Kirk persona, plugged the name on Twitter. Vulcan, the home planet of Kirk’s alien-human hybrid first officer Spock, is not just a fictional world in the Star Trek universe. It is also the name of the god of fire in Roman mythology, and officials at SETI added the sci-fi favorite to the ballot for that reason.


“Vulcan is the Roman god of lava and smoke, and the nephew of Pluto. (Any connection to the Star Trek TV series is purely coincidental, although we can be sure that Gene Roddenberry read the classics.),” wrote SETI scientist Mark Showalter in a blog officially adding the name to the list on Feb. 12. “Thanks to William Shatner for the suggestion!”


These votes don’t necessarily mean that P4 and P5 will end up being called Vulcan and Cerberus, however. SETI is going to recommend the winning names to the International Astronomical Union — the organization responsible for naming the moons. The IAU will take the results into consideration, but ultimately they have final say over what the tiny moons are called.


Pluto has five moons  that astronomers currently know of. Scientists first caught sight of Pluto’s largest moon Charon in 1978, but it was not until 2005 that astronomers discovered two other moons (Nix and Hydra) using the Hubble Space Telescope.


The moon P5 was discovered in 2012, also using the Hubble telescope  . The moon P4 was discovered in 2011. Both P4 and P5 are only 15 to 20 miles (20 to 30 km) in diameter.


Follow Miriam Kramer on Twitter @mirikramer or SPACE.com @Spacedotcom. We’re also on Facebook & Google+


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Space and Astronomy News Headlines – Yahoo! News





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Iran plans own response to 'Argo'




(File photo) Argo tells the story of a rescue of U.S. diplomats from revolutionary Iran.




STORY HIGHLIGHTS


  • Ben Affleck's "Argo" tells the story of a dramatic rescue of U.S. diplomats from revolutionary Iran

  • Iranian state media criticize the movie as "replete with historical inaccuracies and distortions"

  • Iran's Art Bureau says it will fund its own film about the handing over of 20 U.S. hostages




(CNN) -- Ben Affleck has more than just a couple of Golden Globes to add to his resume.


His movie "Argo," about the suspenseful rescue of U.S. diplomats during the Iran hostage crisis, has also achieved the unusual honor of prompting Tehran to produce its own cinematic response.


Opinion: Latino should have played lead in 'Argo'


"Argo" was named best drama movie during the Golden Globes ceremony on Sunday night in Los Angeles, and Affleck won the award for best director, a category for which he was passed over in the recent Oscar nominations.










But his efforts to recreate on screen the drama of the secret operation by the CIA and Canada to extract six U.S. embassy workers from revolutionary Iran in 1980 haven't been overlooked by Tehran's Art Bureau.


'Argo' recognizes forgotten heroes of Iran hostage saga


It plans to fund a movie entitled "The General Staff," about 20 American hostages who were handed over to the United States by Iranian revolutionaries, according to a report last week by Mehr News, the official Iranian agency.


"This film, which will be a big production, should be an appropriate response to the ahistoric film 'Argo,'" said Ataollah Salmanian, the director of the Iranian film, according to Mehr.


"Argo" claims to be based on a true story rather than to constitute a scrupulous retelling of exactly what took place, and its deviations from reality have been documented.


But Iranian authorities have taken offense at the film's portrayal of the country and its people. "Argo" was officially viewed as "anti-Iranian" following its U.S. release last year, Mehr reported.


Iran's state-run broadcaster Press TV detailed its objections to the film in an online article on Sunday.


"The Iranophobic American movie attempts to describe Iranians as overemotional, irrational, insane, and diabolical while at the same, the CIA agents are represented as heroically patriotic," it complained.


In the movie, in which Affleck plays the lead role, the CIA operation is shown outwitting Iranian authorities through an elaborate plan based on pretending that the U.S. diplomats fleeing the country were part of team scouting locations for an outlandish science-fiction film.


But according to Press TV, the film is "a far cry from a balanced narration" and is "replete with historical inaccuracies and distortions."


On the other hand, "The General Staff," set to begin shooting next year, will be based on eyewitness accounts, Salmanian said.


The Art Bureau, which is to provide the financing, is affiliated with the Islamic Ideology Dissemination Organization, according to Mehr.


Press TV cited Salmanian as saying that his film would depict "the historical event unlike the American version which lacks a proper view of the story."


CNN's Samira Said contributed to this report.






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New storm to hit Chicago area on Tuesday: forecasts









For the second time in less than a week, the Chicago area is in line for a snowstorm that promises a mixture of freezing rain, sleet and snow with enough accumulation to bring out the snow shovels.


Early predictions from the National Weather Service pegged the potential snowfall at about 3-6 inches, about what the storm left the end of last week. But the weather service says it's still unclear which areas will be hit with what: If the temperature is above freezing, there will be less snow, and if it's below, there will be more.


The weather service has issued a winter storm watch from Tuesday morning through the evening.








The weather service said the snow will start sometime after midnight Tuesday morning, with freezing rain turning to sleet to wet snow by early afternoon. With winds gusting about 35 mph, some of that snow will drift and made Tuesday a bad day on the roads.


The track of the storm is over the Texas panhandle northeast and through Missouri and southern Illinois and central Indiana, the Lake Erie area early Wednesday. North of the low pressure path, winter storm watches are in effect from late Monday through Tuesday from Missouri through northern Illinois, the southeastern corner of Wisconsin, extreme northern Indiana and much of Lower Michigan.

In the Chicago area, there could be heavy snow of 6 inches or more Tuesday generally north of Interstate 80, with northeast winds at 25 to 35 mph whipping and blowing the snow, according to the Chicago Weather Center.


Rain, a period of freezing rain and sleet will spread north out of central Illinois early Tuesday, changing over to a heavy wet snow in the Chicago metro area and across the far west through north suburbs into southern Wisconsin.

A combination of freezing rain, sleet and snow will cause hazardous driving across northern Indiana Tuesday. The precipitation will be all snow across Illinois later Tuesday.


According to the Chicago Weather Center, February has been an unusually snowy month during a winter that has been unusually snowless. Through Saturday, there has been 10.1 inches of snow, about 136 percent of normal, while the winter's total has been 13.6 inches, way below normal.


Plains states hit again


A storm struck parts of the southern Plains today, creating blizzard conditions in Oklahoma and Texas and warnings in Kansas and Missouri that caught the brunt of a winter storm last week.

Snow fell at the rate of up to 2 inches per hour in the Amarillo, Texas, area, and the National Weather Service warned against travel, saying "most roads are impassable."

Airports in Amarillo and 120 miles to the south in Lubbock, Texas, were closed while Interstate 27 between the cities was shut down because of the blowing snow, state officials said.

Amarillo and parts north of Amarillo in the panhandle reported a foot of snow or more on Monday morning.

Parts of northwestern Oklahoma could get 16 inches to 24 inches of snow, with high winds that could create drifts up to 6 feet high, according to the National Weather Service in Norman, Oklahoma.

The Oklahoma Highway Patrol said it closed all highways in the Oklahoma panhandle because of blizzard conditions. Interstate 40 in the Texas panhandle was also closed, according to National Weather Service in Amarillo.

In Oklahoma City, some afternoon flights from Will Rogers World Airport were canceled in anticipation of the storm.

Kansas, hit by a foot or more of snow in spots last week, braced for possible worsening conditions on Monday and Tuesday.

Reuters contributed


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking





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Powers to offer Iran sanctions relief at nuclear talks


ALMATY (Reuters) - Major powers will offer Iran some sanctions relief during talks in Almaty, Kazakhstan, this week if Tehran agrees to curb its nuclear program, a U.S. official said on Monday.


But the Islamic Republic could face more economic pain if it fails to address international concerns about its atomic activities, the official said ahead of the February 26-27 meeting in the central Asian state, speaking on condition of anonymity.


"There will be continued sanctions enforcement ... there are other areas where pressure can be put," the official said, on the eve of the first round of negotiations between Iran and six world powers in eight months.


A spokesman for European Union foreign policy chief Catherine Ashton, who leads the talks with Iran on behalf of the powers, said Tehran should understand that there was an "urgent need to make concrete and tangible progress" in Kazakhstan.


Both Russia and the United States stressed there was not an unlimited amount of time to resolve a dispute that has raised fears of a new war in the Middle East.


"The window for a diplomatic solution simply cannot by definition remain open forever. But it is open today. It is open now," U.S. Secretary of State John Kerry told a news conference in London. "There is still time but there is only time if Iran makes the decision to come to the table and negotiate in good faith."


Russian Deputy Foreign Minister Sergei Ryabkov said there was "no more time to waste", Interfax news agency quoted him as saying in Almaty.


The immediate priority for the powers - the United States, Russia, China, Germany, Britain and France - is to convince Iran to halt its higher-grade enrichment, which is a relatively short technical step away from potential atom bomb material.


Iran, which has taken steps over the last year to expand its uranium enrichment activities in defiance of international demands to scale it back, wants a relaxation of increasingly harsh sanctions hurting its lifeline oil exports.


Western officials say the Almaty meeting is unlikely to produce any major breakthrough, in part because Iran's presidential election in June may make it difficult for it to make significant concessions before then for domestic reasons.


But they say they hope that Iran will take their proposals seriously and engage in negotiations to try to find a diplomatic settlement.


"No one is expecting to walk out of here with a deal but ... confidence building measures are important," one senior Western official said.


The stakes are high: Israel, assumed to be the Middle East's only nuclear-armed arsenal, has strongly hinted at possible military action to prevent its old foe from obtaining such arms. Iran has threatened to retaliate if attacked.


GOLD SANCTIONS RELIEF?


The U.S. official said the powers' updated offer to Iran - a modified version of one rejected by Iran in the unsuccessful talks last year - would take into account its recent nuclear advances but also take "some steps in the sanctions arena".


This would be aimed at addressing some of Iran's concerns, the official said, while making clear it would not meet Tehran's demand of an easing of all punitive steps against it.


"We think ... there will be some additional sanctions relief" in the powers' revised proposal," the official said, without giving details.


Western diplomats have told Reuters the six countries will offer to ease sanctions on trade in gold and precious metals if Iran closes its Fordow underground uranium enrichment plant.


Iran has indicated, however, that this will not be enough.


Tehran denies Western allegations it is seeking to develop the capability to make nuclear bombs, saying its program is entirely peaceful. It wants the powers to recognize what it sees as its right to refine uranium for peaceful purposes.


The U.S. official said the powers hoped that the Almaty meeting would lead to follow-up talks soon.


"We are ready to step up the pace of our meetings and our discussions," the official said, adding the United States would also be prepared to hold bilateral talks with Tehran if it was serious about it.


Ashton's spokesman, Michael Mann, said the updated offer to Iran was "balanced and a fair basis" for constructive talks.


(Additional reporting by Yeganeh Torbati and Dimitry Solovyov; Editing by Jon Hemming)



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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



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Daytona ready for race, willing to relocate fans


DAYTONA BEACH, Fla. (AP) — Fans feeling unsafe after the horrific crash at Daytona International Speedway can change seats for NASCAR's biggest race.


Track President Joie Chitwood said Sunday workers successfully repaired a section of fence — 54 feet wide and 22 feet high — that was shredded Saturday when Kyle Larson's car went airborne on the final lap of a second-tier race and crashed through the barrier that separates cars from fans. Large pieces of debris, including a tire, sprayed into the upper and lower section of the stands.


The crash injured more than 30 people, raising more questions about fan safety at race tracks.


Halifax Health spokesman Byron Cogdell said seven people with crash-related injuries remained hospitalized Sunday in Daytona Beach in stable condition. The six people brought to a different Halifax hospital in Port Orange with crash-related injuries had all been discharged by Sunday morning, Cogdell said.


A spokeswoman at Florida Memorial Medical Center would not release information Sunday on the patients brought to that hospital.


Chitwood, meanwhile, said if any fans are uncomfortable with their up-close seating for Sunday's Daytona 500, officials will work to move them.


"If fans are unhappy with their seating location or if they have any incidents, we would relocate them," Chitwood said Sunday. "So we'll treat that area like we do every other area of the grandstand. If a fan is not comfortable where they're sitting, we make every accommodation we can."


Larry Spencer of Nanticoke, Pa., said Sunday he's not sure he wants to ever sit that low again after his 15-year-old brother, Derrick, needed three stitches in his cheek after being hit by metal debris flying from the crash. They sat close to the fence Saturday, but returned for the Daytona 500 with tickets dozens of rows farther away from the track.


"I thought it was just neat to see the cars going by that close," Spencer said. "After yesterday, though, I definitely will reconsider sitting lower ever again."


The tire that flew into the stands landed a couple of rows above where they had been standing. After the crash, looking around at the people seriously injured, Spencer said he decided to take his brother to a hospital himself so that speedway crews and paramedics could focus on the people who needed more help.


"The only way to describe it was like a bomb went off, and the car pretty much exploded," Spencer said.


Track workers finished repairs about 2 a.m. Sunday, having installed a new fence post, new metal meshing and part of the concrete wall.


Officials decided not to rebuild the collapsed cross-over gate, which allows fans to travel between the stands and the infield before races.


Daytona has a grandstand remodel planned. Chitwood said the injuries could prompt a redesign that might include sturdier fences or stands further away from the on-track action.


"It's tough to connect the two right now in terms of a potential redevelopment and what occurred," Chitwood said. "We were prepared yesterday, had emergency medical respond. As we learn from this, you bet: If there are things that we can incorporate into the future, whether it's the current property now or any other redevelopment, we will.


"The key is sitting down with NASCAR, finding out the things that happened and how we deal with them."


Daytona reexamined its fencing and ended up replacing the entire thing following Carl Edwards' scary crash at Talladega Superspeedway in Alabama in 2009. Edwards' car sailed into the fence and spewed debris into the stands.


"We've made improvements since then," Chitwood said. "I think that's the key: that we learn from this and figure out what else we need to do."


NASCAR plans to take what remained of Larson's sheared car along with debris back to its research and development center in Charlotte, N.C., for testing.


"We'll bring in the best and brightest," said Steve O'Donnell, NASCAR's senior vice president for racing operations. "Anything we can learn will be put in place. ... Fans are our first priority. Obviously we want everybody to be safe at an event. We've talked to the speedway. We're confident in what's in place at today's event. Certainly still thinking about those affected, but we're confident to move forward for this race."


The 12-car crash began as the front-runners approached the checkered flag. Leader Regan Smith attempted to block Brad Keselowski for the win, triggering a pileup that could have been much worse.


Larson's burning engine wedged through a gaping hole in the fence. Parts and pieces of his car sprayed into the stands, including a tire that cleared the top of the fence and landed midway up the spectator section closest to the track.


The 20-year-old Larson stood in shock a few feet from his car as fans in the stands waved frantically for help. Smoke from the burning engine briefly clouded the area, and emergency vehicles descended on the scene.


Ambulance sirens could be heard wailing behind the grandstands at a time the race winner would typically be doing celebratory burnouts.


"It was freaky. When I looked to my right, the accident happened," Rick Harpster of Orange Park said. "I looked over and I saw a tire fly straight over the fence into the stands, but after that I didn't see anything else. That was the worst thing I have seen, seeing that tire fly into the stands. I knew it was going to be severe."


In 1987, Bobby Allison's car lifted off the track at Talladega while running over 200 mph, careening into the steel-cable fence and scattering debris into the crowd. That crash led to the use of horsepower-sapping restrictor plates at Talladega and its sister track in Daytona, NASCAR's fastest layouts.


As a result, the cars all run nearly the same speed, and the field is typically bunched tightly together — which plenty of drivers have warned is actually a more dangerous scenario than higher speeds.


"That's one of the things that really does scare you," Allison said Sunday. "But it's always a possibility because of the speeds, where they are."


___


Associated Press writer Jennifer Kay in Miami contributed to this report.


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Serious Stargazing: Spot Bright Star Sirius This Week






Around this time of year, I often get lots of inquiries concerning a certain very bright star-like object shining over toward the southern part of the sky. It’s Sirius, the Dog Star, the brightest star in the night sky. 


Granted, the planet Jupiter currently shines three times brighter and appears much higher in the sky, but while Jupiter shines with a steady, silvery glow, Sirius will remind you of the famous early 19th century limerick, “Twinkle Twinkle Little Star” written by the English poet, Jane Taylor, for indeed, Sirius seems to shine “like a diamond in the sky.”  Who knows?  Maybe Taylor was inspired by gazing upon Sirius.






Not a few astronomy books suggest that you can locate Sirius by using the belt of Orion, as the belt points southeast directly toward Sirius — as if anyone needed a way to find this dazzling luminary! While it is true that Orion’s three-star belt will direct you toward Sirius, all anyone needs to do is simply cast a glance toward the southern sky during these cold winter evenings and they’ll immediately see it. It will be due south between 8:30 and 9 p.m. local time all of this week, and sets in the southwest between 1:30 and 2 a.m.


So bright, so near


Sirius is the brightest star of the constellation Canis Major, the “Greater Dog” in Latin.


According to Burnham’s Celestial Handbook, other names for it include “The Sparkling One” or “The Scorching One.” The star appears a brilliant white with a tinge of blue, but when the air is unsteady, or when the star is low to the horizon, it seems to flicker and splinter with all the colors of the rainbow. 


At a distance of just 8.7 light-years, Sirius is the fifth-nearest known star. Among the naked-eye stars, it is the nearest of all, with the sole exception of Alpha Centauri. Sirius is gradually moving closer to the solar system, so it will slightly increase in brightness over the next 60,000 years. After that time its distance will begin to recede, but it will continue to be the brightest star in the Earth’s sky for the next 210,000 years. [The Nearest Stars to Earth (Infographic)]


The Dog Star has a pup


Over thousands of years, Sirius appears to move in a wavy line across the sky. 


In 1862, Alvan G. Clark first saw Sirius B, also known as “the Pup,” the companion star responsible for the wiggle. Sirius B is only one ten-thousandth as bright as Sirius A, but by 1914, spectroscopic observations had demonstrated that its temperature was about the same. From physical laws it follows that B emits the same amount of light per unit surface area as A, and therefore to be so dim, it must be very small. 


Later calculations have shown that A has just over twice the mass of our sun, but B has nearly one solar mass. Since it is so small, B must be exceedingly dense. 


In fact, it packs 98 percent of one solar mass into a body just 2 percent of the sun’s diameter. To do that, Sirius B must have a density 90,000 times that of the sun. A teaspoon of this star material would weigh about 2 tons!


Look for Canopus


Now is also the time of the year for southerly observers to look for Canopus, in the constellation of Carina, the Keel (part of the now-defunct constellation of Argo Navis, the Ship). 


Canopus still holds its rank as second only to Sirius in apparent brightness. The two stars differ by 0.8 magnitudes, so that Canopus is about half as bright as Sirius. But the former is more than 34 times as distant from us.


And, in fact, intrinsically, the luminary in Carina outshines the one in Canis Major by about 600 times.  This week, if you are anywhere south of north latitude 37.6 degrees, you can get a glimpse of Canopus as it skims just above the southern horizon, almost directly south of Sirius around 8:30 p.m.


Joe Rao serves as an instructor and guest lecturer at New York’s Hayden Planetarium. He writes about astronomy for The New York Times and other publications, and he is also an on-camera meteorologist for News 12 Westchester, New York.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





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Vatican 'Gay lobby'? Probably not






STORY HIGHLIGHTS


  • Benedict XVI not stepping down under pressure from 'gay lobby,' Allen says

  • Allen: Benedict is a man who prefers the life of the mind to the nuts and bolts of government

  • However, he says, much of the pope's time has been spent putting out fires




Editor's note: John L. Allen Jr. is CNN's senior Vatican analyst and senior correspondent for the National Catholic Reporter.


(CNN) -- Suffice it to say that of all possible storylines to emerge, heading into the election of a new pope, sensational charges of a shadowy "gay lobby" (possibly linked to blackmail), whose occult influence may have been behind the resignation of Benedict XVI, would be right at the bottom of the Vatican's wish list.


Proof of the Vatican's irritation came with a blistering statement Saturday complaining of "unverified, unverifiable or completely false news stories," even suggesting the media is trying to influence the papal election.


Two basic questions have to be asked about all this. First, is there really a secret dossier about a network of people inside the Vatican who are linked by their sexual orientation, as Italian newspaper reports have alleged? Second, is this really why Benedict XVI quit?



John L. Allen Jr.

John L. Allen Jr.



The best answers, respectively, are "maybe" and "probably not."


It's a matter of record that at the peak of last year's massive Vatican leaks crisis, Benedict XVI created a commission of three cardinals to investigate the leaks. They submitted an eyes-only report to the pope in mid-December, which has not been made public.


It's impossible to confirm whether that report looked into the possibility that people protecting secrets about their sex lives were involved with the leaks, but frankly, it would be surprising if it didn't.


There are certainly compelling reasons to consider the hypothesis. In 2007, a Vatican official was caught by an Italian TV network on hidden camera arranging a date through a gay-oriented chat room, and then taking the young man back to his Vatican apartment. In 2010, a papal ceremonial officer was caught on a wiretap arranging liaisons through a Nigerian member of a Vatican choir. Both episodes played out in full public view, and gave the Vatican a black eye.









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In that context, it would be a little odd if the cardinals didn't at least consider the possibility that insiders leading a double life might be vulnerable to pressure to betray the pope's confidence. That would apply not just to sex, but also potential conflicts of other sorts too, such as financial interests.


Vatican officials have said Benedict may authorize giving the report to the 116 cardinals who will elect his successor, so they can factor it into their deliberations. The most immediate fallout is that the affair is likely to strengthen the conviction among many cardinals that the next pope has to lead a serious house-cleaning inside the Vatican's bureaucracy.


It seems a stretch, however, to suggest this is the real reason Benedict is leaving. For the most part, one should probably take the pope at his word, that old age and fatigue are the motives for his decision.


That said, it's hard not to suspect that the meltdowns and controversies that have dogged Benedict XVI for the last eight years are in the background of why he's so tired. In 2009, at the height of another frenzy surrounding the lifting of the excommunication of a Holocaust-denying traditionalist bishop, Benedict dispatched a plaintive letter to the bishops of the world, voicing hurt for the way he'd been attacked and apologizing for the Vatican's mishandling of the situation.


Even if Benedict didn't resign because of any specific crisis, including this latest one, such anguish must have taken its toll. Benedict is a teaching pope, a man who prefers the life of the mind to the nuts and bolts of government, yet an enormous share of his time and energy has been consumed trying to put out internal fires.


It's hard to know why Benedict XVI is stepping off the stage, but I doubt it is because of a "gay lobby."


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of John L. Allen Jr.






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Daytona 500 still a go despite accident that injured fans









DAYTONA BEACH, Fla. —





The Daytona 500 NASCAR race will go ahead on Sunday despite a crash on Saturday that injured more than 20 fans, questions over the safety of the famous speedway and the possibility of lawsuits.

Officials said they had repaired the fencing that was damaged after the pile-up which sent debris flying into the crowd and injuring fans on the final lap of Saturday's second-tier Nationwide race.






Halifax Health spokesman Byron Cogdell said that seven people were treated for injuries at their facility but two who had initially been listed as critical were now in a stable condition.

Another injured spectator was being treated at Florida Hospital Memorial Medical Center in Daytona Beach, but their condition was not available.

Fourteen other fans had been treated on site at the track before being released, said Daytona International Speedway president Joei Chitwood.

Chitwood said any fans in the affected area who were concerned about the safety of their seat position would be relocated.

"If fans are unhappy with...their seating location or if they have any incidents, we would relocate them. We will treat that area like we do every other of the grandstand.

"If a fan is not comfortable where they are sitting, we make every accommodation we can," he said.

NASCAR and the speedway could face millions of dollars' worth of claims from the injured, litigation that would likely center on the sturdiness of the safety fence that was supposed to keep fans from danger, according to several plaintiffs' lawyers.

"Maybe the fence should have been higher; maybe there should have been more spacing between the track and spectators," said Adam Levitt, a lawyer with Grant & Eisenhofer.

However, lawyers also said the auto-racing business would likely point to the disclaimers that it typically displays on tickets, which are designed to exempt NASCAR from any potential injury liability. They expected NASCAR would argue that fans knew what they were getting into when signing up for the race.

NEW FENCING

Both the speedway and NASCAR have said they will closely review the incident in search of any ways they could improve safety.

Chitwood said new, 22-feet-high fencing had been put in place three years ago following a review of a crash involving Colin Edwards at Talladega in 2009.

"If you look at our 55 years in the business, we have a pretty good safety track record. I think we are prepared today," said Chitwood.

However, three-times Indianapolis 500 winner Johnny Rutherford said a change might be needed.

"Maybe a double fence, one behind the other with some space in between to stop something like this," he told reporters.

"But there are a lot of things and NASCAR and Indy Car racing are looking at everything they can to make it safer.

"What happened yesterday was a terrible thing because we expect (danger) that is part of it, we have to roll the dice and move on but you don't want to involve the fans," he said.

NASCAR's senior vice-president of racing operations Steve O'Donnell said he would tell any nervous fans that organisers were confident of their safety.

"I would tell them that the fans are our first priority. Obviously we want everyone to be safe at an event," he told reporters.

"We've talked to the speedway. We are confident in what's in place at today's event. Certainly still thinking about those affected but we are confident to move forward for this race," he added.

Fans streamed into the 167,000-capacity venue on Sunday and there was little indication of concern over safety.

"I feel safe. I think anywhere you go you run the risk of being injured but NASCAR does everything they can to protect the fans. They treat the fans like royalty here, it is amazing," said Vinny Nigro of New York City.

Another fan, Brad Stefka from Springfield, Missouri, said that while not particularly worried he would avoid the seating closest to the track.

"I just won't get down low. I would imagine that everyone who comes knows there is some element of danger if the cars are going that fast, if there is going to be a serious impact," he said.



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Danica brings new eyes to NASCAR and Daytona 500


DAYTONA BEACH, Fla. (AP) — The big boys brought their little girls to see NASCAR's shining star.


Jeff Gordon, Carl Edwards and Jimmie Johnson all took their daughters to meet Danica Patrick this week at Daytona International Speedway.


It was the ultimate backstage pass.


Patrick dropped to one knee, wrapped her right arm around Ella Gordon's waist and posed for pictures as the 5-year-old flashed an endless smile in Victory Lane last week. Every day since, Patrick's crew has handed out dozens and dozens of lugnuts to little girls clamoring for souvenirs. Annie Edwards wore GoDaddy green shoes for the special occasion. Evie Johnson recognizes only two cars, her Dad said — his and the green one.


"Carl was saying it's good that she sees me in real life and in person because 'To her, you are like some mythical creature that doesn't exist,' " Patrick said. "Then after qualifying, Jimmie Johnson brought his little girl over. That's three pretty big drivers who have little girls that wanted to meet me."


Danicamania is in full bloom at Daytona — and with a brand new audience.


The first woman in history to earn the top starting spot in a race at NASCAR's elite Sprint Cup Series, Patrick will bring new eyeballs to Sunday's season-opening Daytona 500. She'll lure in casual sports fans, women who don't know a muffler from a manifold, and little girls in awe of the glamorous driver and her fast green car.


It's an ambassador role Patrick has played since her 2005 debut at the Indianapolis 500, where she became the first woman to lead laps in the biggest race in the world. But it's so much more now.


"You can only lead by example and I don't necessarily want my example to step outside the box and be a girl in a guy's world. That's not what I am trying to say," Patrick said. "But if you have a talent for something, do not be afraid to follow through with it and not feel different. Do not feel like you are less qualified or less competent to be able to do the job because you are different. Ignore that and let it be about what your potential is."


And right now, she believes her potential is to win "The Great American Race."


Patrick starts first on Sunday, next to four-time champion Gordon, and after running 32 laps in Friday's practice and mixing it up with NASCAR's biggest stars, she was more convinced than ever that she can be a player in the race.


"Can I win? Yeah. Absolutely," Patrick said. "I feel comfortable in this kind of race situation. I feel comfortable in the draft. I feel comfortable that the speeds are not a problem. I know I am inexperienced. I know I am rookie out there. I will do the best job I can to win. I do believe I have a chance to win. I do believe experience would help, but that doesn't mean I don't have a chance to win."


Crew chief Tony Gibson was even more convinced he's got a winner for Sunday. He was part of Derrike Cope's improbable 1990 victory, when Cope inherited the win when the late Dale Earnhardt blew a tire on the final lap.


" She has got the talent," Gibson said. "She's already proven in the Nationwide Series, from what I've seen on the speedway stuff, she definitely gets the respect. People know she's fast. She can draft. She knows how the air works. She gets a lot of that from IndyCar. So I have 100 percent confidence she can win the Daytona 500.


"I remember Derrike Cope, nobody gave him a chance, either, but I saw him in Victory Lane. I know it can be done."


But the Daytona 500 is a pressure-packed race unlike anything except the Indy 500. Some of the best drivers never win it — it took seven-time champion Earnhardt 20 tries to finally get his lone win — and Tony Stewart, Patrick's teammate and car owner, goes into Sunday's race seeking his first victory in 15 tries.


He's been quiet all week, except, of course, for the nine-car accident he started in an exhibition race last weekend. He lamented afterward, "That is why I haven't won a Daytona 500 yet. I'm not quite sure exactly which move to make."


Don't be fooled, though, by the three-time NASCAR champion. Stewart might just like being out of the spotlight as he heads into one of the few races missing from his resume, and being the favorite for the 500 has never worked out for him before.


He wrapped up his practice with one final run Friday to test his race engine and wound up on top of the speed chart. It was Stewart's intention to sit out Saturday's final day of practice.


"I'm excited we've made it through the whole week without a scratch on the car," he said. "We are as ready as you can get for the 500. I feel like we've got a car capable of winning the race. It's just a matter of whether the driver does a good job with the steering wheel."


The title of favorite this year goes to Kevin Harvick, who has two wins in two races so far at Speedweeks. The driver has dominated in his Richard Childress Racing Chevrolet, led 63 of a possible 135 laps and didn't even bother to take the cover off his car in Friday's two practice sessions.


Harvick, the 2007 race winner, has come into the year with both focus and some inner peace after a pair of life-changing moments. His first child, son Keelan, was born after last July's race at Daytona. Then, in November, Harvick made the difficult decision to leave RCR after his 13th season with the organization that brought him into NASCAR and gave him his Cup ride the week after Earnhardt was killed in the 2001 Daytona 500.


He'll drive for Stewart next season at Stewart-Haas Racing, but is determined to make this last year with RCR count.


"Everybody is just working toward the same goal, that's winning the races," Harvick said. "We have to be professional anyway, whether it's lame duck or not. You can call it whatever you want. We're going to have a helluva lot of fun racing, having a good time, doing our jobs."


The 500 will be the first with a full 43-car field racing NASCAR's new Gen-6 car, which was designed all last season with input from teams, drivers and the manufacturers.


Part of the intent was to design a car that more closely resembled what the automakers sell in the showrooms, and NASCAR succeeded in that area. But NASCAR also needed a car that produced better on-track racing, and the verdict is not in yet.


There are a lot of unknowns with the Gen-6 heading into Sunday, partly because drivers spent Speedweeks learning as much as they can about how it handles on the track. All three races so far have been largely uneventful, resembling something closer to a long parade rather than a high-speed spectacle.


If not for Kyle Busch's win in a Toyota in the second of Thursday's twin qualifying races, it would so far be a Chevrolet rout with Harvick taking the new SS to Victory Lane twice and Patrick winning the pole in her Chevy.


All bets could be off on Sunday, Busch warned.


"It might be we all ran single file because we were scared to run side-by-side," Busch said after Thursday's win. "I don't know. I was ready to put on a show, but I didn't have enough people around me to make one happen."


Read More..

Charges filed in slaying of Clemente High School student









Authorities filed charges against a 34-year-old man in connection with the shooting death of an 18-year-old Clemente High School student killed on the West Side last week.


Larry Luellen Jr., 34, was charged with first degree murder in the death of Frances Colon. Luellen is due in court today.


Luellen lives in the 3900 block of West Division Street in West Humboldt Park, around the corner from where Colon was shot. Police don't believe she was the target.





Colon is the third student at Roberto Clemente to be killed this school year, according to the school's principal Marcey Sorensen.


Rey Dorantes, 14, of the 2400 block of West Augusta Boulevard, was shot and killed on Jan. 11. His death came about a month after another Clemente student, 16-year-old Jeffrey Stewart, of the 5200 block of West Race Avenue, was shot and killed on Dec. 9.


Colon was a senior who was preparing to attend college. Hours before the shooting, she had watched President Barack Obama speak at Hyde Park Academy on the South Side about gun violence, according to her father.


Check back for more information.


pnickeas@tribune.com
Twitter: @peternickeas





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UK downgrade pressures reluctant Osborne to change course


LONDON (Reuters) - Britain's finance minister insisted on Saturday he would not change course after the loss of the country's 'AAA' credit rating but George Osborne is facing pressure to do just that as his bet on austerity falters ahead of the 2015 election.


Moody's dealt Britain its first sovereign rating downgrade on Friday, saying the $2.5 trillion economy faced years more sluggish growth and debt would continue to rise until 2016.


Economically the one-notch cut will have limited importance -- most of Europe, Japan and the United States have already suffered the same fate and Britain continues to borrow at historically low rates.


But politically it is toxic for Osborne who has repeatedly vowed to protect the top credit rating since the 2010 election campaign. The downgrade exposes him to opponents who say his failure to deliver economic growth is driving Prime Minister David Cameron towards electoral defeat.


Osborne said on Saturday the move by Moody's showed he was right to focus on restoring Britain to fiscal health, arguing that only by doing that will the conditions for growth be restored.


"I am absolutely determined to make sure we deal with our problems, to make sure that Britain stays the course, to make sure that it doesn't take from this credit rating the wrong message which is we should go and borrow a lot more," the 41-year-old Chancellor of the Exchequer said.


"I'm absolutely clear we're not going to do that."


For investors, the downgrade underscores Britain's predicament: a debt-ridden, stagnating economy which has kept bond yields low in large part thanks to the Bank of England becoming the world's biggest investor in UK government debt by buying it with newly printed money.


"Osborne no longer has any place to hide or anyone to blame," said David Blanchflower, who served on the Bank of England's interest rate setting committee from 2006 to 2009.


He said the minister should "stand up, be a man and accept responsibility for the worst recovery in 100 years" and, in a message on Twitter, suggested a swift cut to value-added tax, a labor tax holiday for workers under 25 and incentives for investment and hiring to kick start growth.


Osborne can take comfort from Moody's confidence that his austerity plan would eventually "reverse the UK's debt trajectory".


A Treasury official noted Moody's had given the UK's credit rating a stable outlook, meaning little chance of a further downgrade in the next 12-18 months. When the United States and France were downgraded, their outlooks remained negative.


But whether growth will return forcefully long enough before the 2015 election to allow voters to appreciate it is now highly uncertain.


Sterling fell by almost a cent to around $1.5160 after the downgrade, just off Thursday's fresh 2-1/2-year low. Analysts said they expected it to fall further on Monday.


Some of the Conservatives' Liberal Democrat coalition partners questioned the political judgment of attaching so much importance to Britain's AAA rating.


"This is a self-inflicted injury for George Osborne," said Matthew Oakeshott, a former Liberal Democrat Treasury spokesman. "To be fair, he was very green in 2009 ... He foolishly erected triple-A status as a virility symbol."


"BLEEDING THE PATIENT"


Cameron, who led his Conservative Party back to office as part of a coalition government after 13 years out of power, risks another year of stagnation and giving his opponents and open goal to aim at.


The Labor Party - which left the biggest peacetime deficit when it lost the 2010 election - called for Osborne's head.


"The medicine is not working so the Chancellor says increase the dose - that's crazy economics. It is like an 18th-century doctor bleeding a patient as they get sicker and sicker," said Ed Balls, the party's main spokesman on finance issues.


But people close to Britain's most powerful two politicians say they are completely aligned. Osborne led Cameron's bid for leadership of the Conservatives and ran the 2010 election campaign. There is little or no chance of him being sacrificed or being forced into a humiliating policy U-turn which would wreck his career.


"Osborne has lots of critics, both inside and outside the party, who are now going to be emboldened by this, but there is no coherent alternative," said Tim Montgomerie, editor of the influential ConservativeHome website.


Though Labor is about 10 percentage points ahead of Conservative Party in polls, surveys show voters trust Cameron and Osborne more than Labor's leader Ed Miliband.


TIME FOR A TWEAK?


Osborne originally gambled that by slashing spending, growth rates of between 2 and 3 percent would kick in from 2013.


But with Britain's banks still recovering from the financial crisis and many of its main trading partners in Europe stuck in recession, his debt targets will be missed. His room for more spending is limited as he tries to avoid pushing up yields on Britain's 1.29 trillion pounds ($1.97 trillion) of debt.


With government spending so restricted, many investors' hopes lie with the Bank of England. Its governor, Mervyn King, this month voted to restart government-bond buying. Although in the minority, his change of heart suggested the bank may be closer than expected to pursuing more stimulus.


If Osborne slows his debt reduction plans, he could upset bond investors and throw his deficit targets further off course.


"We should stick to the plan," said Kwasi Kwarteng, a Conservative lawmaker. "The prime minister would not want to be seen to be panicking, and he's committed to keeping George Osborne where he is."


"But we do also need to look at growth," said Kwarteng, who suggested cutting corporation tax and red tape.


Business lobby the Confederation of British Industry has called for more investment on infrastructure and housing to be funded by more cuts in day-to-day spending. It also expects the government to guarantee more private-sector projects.


Osborne has a chance in his annual budget next month to deliver such tweaks to policy. ($1 = 0.6551 British pounds)


(Additional reporting by Mohammed Abbas and William Schomberg. Editing by Mike Peacock)



Read More..

HP lifts Wall Street, S&P on pace for first weekly loss of year

NEW YORK (Reuters) - Stocks rose on Friday, rebounding off two days of losses as Dow component Hewlett-Packard surged on strong results, but the S&P 500 was on track to end a seven-week-long streak of gains.


The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.


Still, the index is up nearly 6 percent for the year and held the 1,500 support level despite the recent declines, a sign of a positive bias in the market.


"The market is addicted to Fed stimulus and gets withdrawal shakes every time that's threatened, but now we're resuming our course and remain much more attractively valued than other asset classes," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia.


Hewlett-Packard Co jumped 9.6 percent to $18.74 as the top boost on both the Dow and S&P 500 after the PC maker's quarterly revenue and forecasts beat expectations. The company cut costs under Chief Executive Meg Whitman's turnaround plan. The S&P technology sector <.splrct> was up 0.8 percent.


The Dow Jones industrial average <.dji> was up 69.41 points, or 0.50 percent, at 13,950.03. The Standard & Poor's 500 Index <.spx> was up 7.74 points, or 0.52 percent, at 1,510.16. The Nasdaq Composite Index <.ixic> was up 18.26 points, or 0.58 percent, at 3,149.75.


For the week, the Dow is off 0.2 percent in its third straight week of slight losses, the S&P is off 0.6 percent and the Nasdaq is off 1.3 percent.


Also buoying tech stocks were gains in semiconductor companies after Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 2.5 percent to $9.71.


In addition, Texas Instruments Inc raised its dividend by a third and boosted its stock buyback program, lifting shares 5.1 percent to $34.16 while the PHLX semiconductor index <.sox> gained 1.8 percent.


"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Macey, who manages about $20 billion in assets.


On the downside, Abercrombie & Fitch dropped 7.6 percent to $45.34 after the clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.


Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 3 percent to $38.43.


According to Thomson Reuters data through Friday morning, of 439 companies in the S&P 500 that have reported results, 70 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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Armstrong lawyers: Justice Dept joining fraud suit


WASHINGTON (AP) — Lawyers for Lance Armstrong say the Justice Department has joined a lawsuit against the cyclist. The lawsuit alleges the former Tour de France champion concealed his use of performance-enhancing drugs for over a decade and defrauded his long-time sponsor, the U.S. Postal Service.


The suit the Justice Department is joining was filed in 2010 by former teammate Floyd Landis, who was stripped of his 2006 Tour de France title for doping.


An Armstrong lawyer, Robert Luskin, said Friday that negotiations with the government failed because "we disagree about whether the postal service was damaged."


Said Luskin: "The postal service's own studies show that the service benefited tremendously from its sponsorship — benefits totaling more than $100 million."


The Landis lawsuit was filed under seal, but it will be unsealed now.


Read More..

Nigerian offshore attacks surge as pirates advance






ABUJA/LONDON (Reuters) – A spike in piracy off Nigeria‘s oil-rich coast has shown gangs are willing to venture further afield and use more violent tactics, increasing the risk of doing business in Africa’s largest energy producer.


Pirates demanded a 200 million naira ransom for the release of six foreigners kidnapped on Sunday, the latest in at least five attacks in Nigerian waters this month.






Exxon Mobil and Shell officials said this week that security was a major factor in Nigeria, and it was one of the most expensive oil-producing countries to operate in.


“The recent upsurge in maritime kidnaps off the Niger Delta … has not been witnessed since 2010,” said Tom Patterson, maritime risk analyst at Control Risks.


“It is easy to underestimate the debilitating effect such a situation can have, even on larger corporations,” Patterson added.


Oil and shipping companies have to hire crisis management teams, pay huge insurance premiums and face the prospect of ransom payments, as well as brace themselves for damage to their reputations.


At the same time, pirates are becoming more ambitious.


Three crew members were kidnapped on February 7 from the British-flagged cargo ship, Esther C, around 80 miles offshore, the furthest pirates have reached in the Gulf of Guinea.


Gunmen killed a Filipino crew member when they attacked a chemical tanker three days earlier, in the first confirmed case in Nigerian waters of crew being killed on a vessel that deployed a private armed team, maritime risk experts AKE said.


OIL GANGS


The prime suspects for most attacks are Nigerian oil gangs, who already carry out industrial scale crude theft, called ‘bunkering’ in the restive onshore Niger Delta swamplands.


Nigeria’s oil minister said this week that oil theft, which can amount to 150,000 barrels per day (bpd), was the work of an international criminal syndicate. President Goodluck Jonathan has reached out to Britain for help.


Security experts also believe Nigerian security officials and politicians are complicit in oil theft and piracy.


“There are many top people in Nigeria involved in commissioning these attacks and sharing the profits,” said Michael Frodl, head of U.S. consultancy C-Level Maritime Risks.


“It’s obvious to us that they’ve been bringing in people in other nations into the game, and sharing a cut in exchange for tips for tankers and cargoes.”


Compounding the problem, there is less fuel available in Nigeria since Jonathan reduced subsidies last year, which has forced prices to rise. This has provided an added incentive for gangs to locally refine stolen oil or siphon fuel off ships they attack, experts say.


The rise in pirate attacks comes as Nigerian forces have been more stretched in the last two years due to an Islamist insurgency in the Muslim north.


“There is a sense that security resources are being focused to combat the terrorist threat in the north of the country,” said Rory Lamrock, analyst with security firm AKE.


“We’re likely to see further attacks over the coming months as local authorities are unable to effectively police the waters, especially up to 50 or 60 nautical miles off the coast.”


Energy News Headlines – Yahoo! News





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Can Bersani-Monti work for Italy?











Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader


Austerity-hit Italy chooses new leader








STORY HIGHLIGHTS


  • Bersani wins he may be forced to form a coalition with incumbent PM Mario Monti

  • Center-left leader Bersani says he plans to make the property tax "more progressive"

  • Berlusconi is using his showman charm to mount a comeback for his PDL party




London (CNN) -- Italy's electoral run-off between an ex-communist and a former cruise ship singer threatens to throw the country back into the spotlight of the European debt crisis.


The enigmatic leader of the center-left Democratic Party, Pier Luigi Bersani, goes head-to-head with scandal-laden former Prime Minister Silvio Berlusconi -- back from the political grave following his resignation in November 2011.


Incumbent technocrat premier and eurozone darling Mario Monti, meanwhile, is lagging behind in the polls.


The cigar-chomping Bersani is favorite for Italy's top job and proposes to steer the country's battered economy through a debt crisis that is still plaguing the eurozone three years on.


Following six consecutive quarters of recession and with unemployment at 11.2%, Bersani is pursuing the euro area's latest fad to revive Italy's ailing economy; a pro-growth agenda.








Read more: Can the anti-Berlusconi pull Italy out of the mire?


Such policies are a stark contrast to Monti's cocktail of cuts and taxes served up to woo policymakers in Brussels and Frankfurt.


Read more: Berlusconi renaissance would be 'disaster' for Italian economy


Growth will be the "golden rule" to attract foreign investment, according to Democratic Party number two Enrico Letta. A similar sentiment was key in sweeping socialist French President Francois Hollande into the Elysee Palace in 2012.


But Letta stresses that Bersani will not follow Hollande's lead by proposing a 75% income tax for the country's wealthiest residents.


Read more: Beppe Grillo: Clown prince of Italian politics


Speaking to CNN, Letta said: "It will be different, we already have a very high level of taxation...the main point is not to increase taxes."


Bersani -- who promises to stick to the outgoing government's plans for pension and labor market reform -- will also keep Monti's reviled property tax, known as IMU. It's a policy that Berlusconi pledges to scrap if elected.


In an interview with CNN, Bersani says he plans to make the tax "more progressive" and focus on the owners of large properties if his party wins.


But for all Bersani's talk of change, bond strategist Nicholas Spiro dismisses the 71-year-old as no reformer and says he is "not up to the task" of hauling the Italian economy out of a "knee deep" recession.


Spiro, managing director of Spiro Sovereign Strategy, says "Bersani could very well go for taxes on the rich, but Italy has a massive tax evasion and compliance problem, that could be difficult."


Can a political marriage survive?


Politics in Italy is complicated and outright victory for any party is unlikely. If Bersani wins he may be forced to form a coalition.


An alliance with the flamboyant center-right leader Silvio Berlusconi is unthinkable -- which leaves Monti the most likely candidate to support a Bersani-lead government.


But Monti is viewed with suspicion Bersani's far-left partners, Left Ecology Freedom, who believe the technocrat would pull a left government too far to the economic right.


If the parties can strike a deal Monti would be offered "an important role" to be discussed "Monday afternoon," Letta told CNN. He refused to say if the technocrat would be appointed finance minister.


Monti, a former European Commissioner in financial services, wields the power to reassure European leaders that Italy is on the right track and can act as a counterbalance to a leftist government.


Bersani, by contrast, is a mystery on the international stage, according to Paola Subacchi, an economist at London-based think tank Chatham House.


"He is not known abroad and he doesn't speak English... But his whole agenda is pro-Europe and pro-euro."


A Bersani-Monti marriage is unlikely to be smooth. The two could clash over unpopular austerity measures implemented by Monti as part of a European agreement.


Filippo Cavazzuti, former Italian senator and economist at the University of Bologna, believes Bersani will be forced to maintain Monti's policies under the European fiscal compact.


He said: "Otherwise Monti leaves [the coalition], the spread [on bond yields] rises and the credibility with the eurozone will immediately disappear."


A coalition agreement is crucial to stifling a power-grab by Italy's political bad boy, Berlusconi, is gaining on Bersani's seemingly unassailable lead in the polls.


Berlusconi is using his showman charm to mount a comeback for his People of Freedom party and holds key regions in Veneto and Lombardy that could prove crucial, particularly in the battle for the Senate.


The election will hand down a "damning verdict" to the policymakers of northern Europe that Italians are fed up with austerity, according to Spiro.


The electoral campaign, Spiro added, has been: "Very ugly, devoid of substance and purely based on personalities."







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Court to Madigan: No rehearing on concealed-carry guns ruling









SPRINGFIELD — A divided federal appeals court today rejected Illinois Attorney General Lisa Madigan’s request for a rehearing on the case where the state has been ordered to allow citizens to carry guns in public.


Madigan made the request following the U.S. Seventh Circuit Court of Appeals decision in December that gave Illinois 180 days to put together a law that would allow concealed weapons in Illinois.


There has been no word yet from Madigan’s office on her next move. She could choose to appeal to the U.S. Supreme Court or decide to let the ruling stand.





The appeals court action officially rejected Madigan’s request for a rehearing by the full court, but the denial came with a stinging dissent from four of the nine members of the appeals court who reviewed the matter. The original order came down from a three-member panel that also had a split vote.


The arguments made in the dissent, written by Judge David Hamilton, could bolster Madigan’s cause if she appeals to the nation’s high court.


“The Supreme Court has not yet decided whether .. the individual right to keep and bear arms at home under the Second Amendment extends beyond the home,” Hamilton wrote.


Illinois is the only state in the nation that does not allow citizens to carry weapons in public in some form.


Hamilton’s dissent also noted the ruling that called for Illinois to allow concealed carry is the “first decision by a federal court of appeals striking down legislation restricting the carrying of arms in public.”


He wrote that three major points are worthy of consideration by the full appellate court rather than simply the three-member panel:


*Whether to extend the right to bear arms outside the home and into the public sphere, a matter that “presents issues very different from those involved in the home itself, which is all the Supreme Court decided” in a case currently viewed as the law of the land.


*How to handle what the panel did not decide. The three-member panel left Illinois a “good deal of constitutional room for reasonable public safety measures concerning public carrying of firearms.”


*How to proceed in future decisions about laws that are more narrowly tailored and any state interests that justify some restrictions on rights.


“Where the law is genuinely in doubt, as it is likely to remain for some time under the Second Amendment, a trial court can do a great service by ensuring the development of a thorough and complete record that provides a reliable, accurate factual foundation for constitutional adjudication,” Hamilton wrote. “The federal courts are likely to do a better job of constitutional adjudication if our considerations are based on reliable facts rather than hypothesized and assumed facts.”


You can read the opinion HERE.


rlong@tribune.com





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South Africa's Pistorius goes free on $113,000 bail


PRETORIA (Reuters) - A South African court granted bail on Friday to Oscar Pistorius, charged with the murder of his girlfriend on Valentine's Day, after his lawyers successfully argued the "Blade Runner" was too famous to flee justice.


The decision by Magistrate Desmond Nair drew cheers from the Paralympics star's family and supporters. Pistorius himself was unmoved, in marked contrast to the week-long hearing, when he repeatedly broke down in tears.


Nair set bail at 1 million rand ($113,000) and postponed the case until June 4. Pistorius would be released only when the court received 100,000 rand in cash, he added.


Less than an hour later, a silver Land Rover left the court compound, Pistorius visible through the tinted windows sitting in the back seat in the dark suit and tie he wore in court.


The car then sped off through the streets of the capital, pursued by members of the media on motorcycles, before it entered his uncle Arnold's home in the plush Pretoria suburb of Waterkloof.


At least five private security guards stood outside the concrete walls, keeping reporters at bay.


Under the terms of his bail, Pistorius, 26, was also ordered to hand over firearms and his two South African passports, avoid his home and all witnesses, report to a police station twice a week and abstain from drinking alcohol.


The decision followed a week of dramatic testimony about how the athlete shot dead model and law graduate Reeva Steenkamp at his luxury home near Pretoria in the early hours of February 14.


Prosecutors said Pistorius committed premeditated murder when he fired four shots into a locked toilet door, hitting his girlfriend cowering on the other side. Steenkamp, 29, suffered gunshot wounds to her head, hip and arm.


Pistorius said the killing was a tragic mistake, saying he had mistaken Steenkamp for an intruder - a possibility in crime-ridden South Africa - and opened fire in a blind panic.


However, in delivering his nearly two-hour bail ruling, Nair said there were a number of "improbabilities" in Pistorius's version of events, read out to the court in an affidavit by his lawyer, Barry Roux.


"I have difficulty in appreciating why the accused would not seek to ascertain who exactly was in the toilet," Nair said. "I also have difficulty in appreciating why the deceased would not have screamed back from the toilet."


By local standards, the bail conditions are onerous but it remains to be seen if they appease opposition to the decision from groups campaigning against the violence against women that is endemic in South Africa.


"We are saddened because women are being killed in this country," said Jacqui Mofokeng, a spokeswoman for the ruling African National Congress' Women's League, whose members stood outside the court this week with banners saying "Rot in jail".


TOO FAMOUS TO RUN


However, Nair said he made his decision in the "interests of justice" and argued that the prosecution, who suffered a setback when the lead investigator withered under cross-examination by Roux, failed to show Pistorius was either a flight risk or a threat to the public.


Roux stressed the Olympic and Paralympics runner's global fame made it impossible for him to evade justice by skipping bail and leaving the country.


"He can never go anywhere unnoticed," Roux told the court.


Pistorius, whose lower legs were amputated in infancy forcing him to race on carbon fiber "blades", faces life in prison if convicted of premeditated murder.


Prosecutors had portrayed him as a cold-blooded killer and said they were confident that their case, which will have to rely heavily on forensics and witnesses who said they heard shouting before the shots, would stand up to scrutiny at trial.


"We are going to make sure that we get enough evidence to get through this case during trial time," a spokesman for the National Prosecuting Authority told reporters.


In court, lead prosecutor Gerrie Nel was scornful of Pistorius's inability to contain his emotions. "I shoot and I think my career is over and I cry. I come to court and I cry because I feel sorry for myself," Nel said.


"DEEPLY IN LOVE"


In his affidavit, Pistorius said he was "deeply in love" with Steenkamp, leading Roux to stress his client had no motive for the killing.


Pistorius contends he reached for a 9-mm pistol under his bed because he felt particularly vulnerable without his prosthetic limbs.


According to police, witnesses heard shouting, gunshots and screams from the athlete's home, which sits in the heart of a gated community surrounded by 3-m- (yard-) high stone walls topped with an electric fence.


In a magazine interview a week before her death, published on Friday, Steenkamp spoke about her three-month relationship with the runner, who won global fame last year when he reached the semi-final of the 400 meters in the London Olympics despite having no lower legs.


"I absolutely adore Oscar. I respect and admire him so much," she told celebrity gossip magazine Heat. "I don't want anything to come in the way of his career."


Police pulled their lead detective off the case on Thursday after it was revealed he himself faces attempted murder charges for shooting at a minibus. He has been replaced by South Africa's top detective.


Pistorius's arrest stunned the millions around the world who saw him as an inspiring example of triumph over adversity.


But the impact was greatest in South Africa, where he was seen as a rare hero for both blacks and whites, transcending the racial divides that persist 19 years after the end of apartheid.


(Writing by Ed Cropley; Editing by Michael Roddy)



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