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Continue reading Fnatic pro gaming team gets limited edition headset and mouse from SteelSeries
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(Reuters) ? U.S. retailers moved from the frenzied start of the holiday shopping season to the next phase on Saturday, hoping to avoid a drop after Black Friday and keep the momentum going during a fitful economic recovery.
After featuring the usual deep discounts on Thanksgiving on Thursday and on Friday, retailers were still offering bargains on Saturday as holiday spending is expected to show only about half the growth of last year.
The holiday shopping season that traditionally kicks off on Black Friday - the biggest day of the year for retailers - is closely watched by investors as consumer spending accounts for about 70 percent of the U.S. economy.
Initial signs were encouraging. ShopperTrak, which measures retail traffic, estimated that sales rose 6.6 percent on Friday compared with a year earlier.
But in 2010 retailers also got off to a strong start to the holidays, only to see a sharp and quick falloff. The National Retail Federation expects holiday retail sales to rise 2.8 percent this year, down from 5.2 percent growth in 2010.
That means an even tougher battle for market share.
"Everybody is fighting for the same consumer," said Laura Gurski, a partner at management consulting firm A.T. Kearney.
Those consumers included Alison Shartrand, a Boston-based accountant who visited clothing retailer Aeropostale's store on Times Square. "I'm only going to shop if there are deals ... the cheaper the better," she said.
Aeropostale Inc, said on its website everything was 50 to 70 percent off in its "Saturday Blowout." At a Gap Inc store in New York's Times Square, everything at the clothing retailer was 60 percent off on Saturday.
"That's the name of the game now - promote, promote, promote," said David Bassuk, managing director of consultancy AlixPartners LLP. "They've got to keep it coming."
STRIKING THE RIGHT BALANCE
Neighborhood shops - often undercut and overwhelmed by big chain stores and warehouse clubs - showcased their own efforts during "Small Business Saturday" promoted by American Express and others. President Barack Obama was among those shopping at local shops in Washington.
The hunt for bargains turned ugly at some stores on Friday.
One of the most outrageous incidents was at a Walmart store in the Los Angeles area, where up to 20 people were hurt when a woman used pepper spray to get the edge on other shoppers rushing for Xbox game consoles. She turned herself in to police on Saturday.
The tough economy, coupled with smart phones that allow for fast comparison of prices, mean the pressure to offer consumers something special and affordable is intense.
"We have put together an entire promotional program for the whole season so we don't shoot all our bullets on the day after Thanksgiving," Jamie Brooks, senior vice president of retail services for Sears Holdings, told Reuters on Friday.
Deep discounts alone may not be enough.
The Black Friday campaign by department store chain Macy's Inc featured an ad with teen singer Justin Bieber and exclusive products will be a focus of its holiday promotions.
Retailers are also trying to strike the right balance between not having too much inventory that must later be sold at profit-draining discounts and making sure they do not anger customers by running out of popular items.
"The most important thing to our customers is when we see something in an ad and come into the store, we have to have it," said J.C. Penney Co Inc executive Mike Thielmann.
Online shopping soared on both Thanksgiving and Black Friday, suggesting that Cyber Monday - the biggest online shopping day of the year - could be a banner day for retailers with the right mix of discounts, special offers and the now commonplace free shipping.
IBM Smarter Commerce, a software and services company for retailers, said online sales rose 39.3 percent on Thanksgiving and 24.3 percent on Black Friday, with robust growth in searches and sales on mobile phones and tablets.
(Reporting by Phil Wahba in New York and Jessica Wohl in Chicago; Additional reporting by Dhanya Skariachan and Mihir Dalal in New York; Editing by Philip Barbara and John O'Callaghan)
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COMBAT OUTPOST HANSON, Afghanistan (AP) ? A turkey trot it was not.
The U.S. Marines' top general, James Amos, sprinted up and down the Helmand River Valley in southern Afghanistan on Thursday, visiting frontline Marines at nine remote outposts to share Thanksgiving and applaud their gains against the Taliban in a region where al-Qaida hatched the 9/11 plot a decade ago.
Traveling mostly in an MV-22 Osprey, the hybrid that flies like an airplane and takes off and lands like a helicopter, Amos began shortly after daylight and finished 14 hours later ? and, improbably, managed to confront just one turkey dinner.
At one point the 65-year-old Amos referred to his unusual daytrip as the "Bataan death march," a reference to the gruesome forced march of American POWs in the Philippines during World War II.
Amos shook hands with hundreds of Marines, all veterans of tough fighting in Helmand Province, which has been a focal point of the U.S.-led strategy to counter the Taliban and other insurgent groups. The Marines have vastly improved security in Helmand over the past year, but with President Barack Obama having ordered 33,000 U.S. troops to withdraw from Afghanistan by next September, the prospects for sustaining those gains are uncertain, and the subject of debate at home.
At each stop Amos struck similar themes in pep talks to his Marines: they are coming close to winning, and when the Marine Corps leaves Afghanistan it will shift its focus to the Pacific, where he said "a whole lot of opportunities" will await a Corps no longer bogged down by land wars in the greater Middle East. He also said Thanksgiving is a time for Marines to reflect on "the unique fraternal bond" among men and women at war.
Marine Sgt. Maj. Michael Barrett, the top enlisted Marine, who accompanied Amos, said that for most troops Thanksgiving was just another day at war ? until they finished their work.
"Then they'll have a meal of a lifetime," he said.
The feast was finally set for Amos when he arrived after dark at Camp Dwyer, the southern-most stop on his trip. He helped heap plates with roast turkey, baked ham and prime rib ? with all the traditional fixings ? and then sat amongst the troops to finish it off.
Amos said "Happy Thanksgiving" at each Marine outpost, but the troops did not seem in a festive mood ? at least in the presence of their commandant. The business of war does not take a holiday. When he asked the Marines what was on their minds, they asked about the future of the Corps, the latest of Washington's stalled budget debate, the possibility of seeing some of their retirement benefits go away, and internal Marine issues.
Some conveyed a sense of confidence that Afghanistan would soon be behind them.
At Combat Outpost Hanson, one member of the 3rd battalion, 6th Marine Regiment asked, "Who do you want us to fight next, sir?" Amos said he did not know, but he reassured the Marine that there would be no shortage of security crises in the years ahead.
At Combat Outpost Alcatraz, in Sangin district where fierce fights against the Taliban have waned only recently, the top overall commander of the war, Marine Gen. John Allen, joined Amos for a pep talk to several dozen Marines.
Allen said Marines will "go home under the victory pennant," but he stressed that the struggle to degrade Taliban influence and build up Afghan security forces ? in Helmand and throughout Afghanistan ? is far from over.
"As big as this is, and as hard as it has been, we are going to be successful here," Allen said. "We're going to win this. We're going to liberate these people, we're going to set this country up to be a free country in one of the toughest regions in the world."
There are now about 97,000 U.S. troops in Afghanistan. All are scheduled to leave by the end of 2014.
Amos clearly relished the chance to see so many combat Marines, but his trip was no joy ride. His itinerary was a closely-held secret, and the aircraft on which he flew was heavily armed.
As a CH-53 helicopter lifted off from a barren field across a dirt highway in the northern Helmand village of Puzeh, with Amos and part of his entourage aboard, a bearded special operations Marine quipped, "Cross your fingers." And then, as the chopper rose above a billowing wall of powdery dust, the Marine added, only half jokingly, "Whew! Getting the commandant shot down at your (outpost) would not be a good thing."
___
Robert Burns can be reached on Twitter at http://www.twitter.com/robertburnsAP
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TRIPOLI (Reuters) ? One of the most senior figures in Libya's outgoing government has denounced its leaders as an unelected elite, supported by "money, arms and PR," and warned that 90 percent of Libya is politically voiceless.
Outgoing acting Prime Minister Ali Tarhouni's comments were the strongest criticism to date by a senior politician of the country's new rulers, who led the rebellion that ended Muammar Gaddafi's 42-year rule and have been in charge since his fall.
The National Transitional Council (NTC) also had a say in Prime Minister Abdurrahim El-Keib's provisional government line-up, which was announced on Tuesday and mandated to steer the country toward democracy.
"The voices that we see now are the voices of the elite, the voices of the NTC who are not elected and the voices of other people who are supported by the outside by money, arms and PR," Tarhouni said on Thursday, hours after a new cabinet was formed.
"It's about time we heard the true voices of the masses ... we need to start rebuilding this democratic constitutional movement," he told a news conference.
Tarhouni was in charge of the oil and finance portfolios in Libya's outgoing transitional government and briefly served as acting prime minister until Thursday, when a new cabinet was sworn in.
Having been a frontrunner for a post as finance minister in Keib's cabinet until the eleventh hour, Tarhouni said he had been asked to join but declined due to the challenges of the transitional period and because he wanted to speak freely.
"I see danger for the sovereignty of Libya. I see a threat for the wealth of the Libyan people," Tarhouni told reporters, without elaborating.
"I see the economic issues as a major challenge," he added.
"FAILED MISERABLY"
Tarhouni said that NTC had "failed miserably" in melding the myriad armed militias that still roam the country into an official national army.
Listing the many security and economic challenges that lie ahead for a nascent government as the country emerges from a bloody civil war, he said the safety of oil installations was a critical issue.
"My hope that the new government will take this issue seriously," he said.
However, Tarhouni repeatedly wished the new line up "success" and said "they should be given a chance."
On Tuesday, the NTC named a cabinet favoring appointees who will soothe rivalries between regional factions, but specific groups, including the Amazigh, or Berber, have boycotted the new government complaining of the lack of representation.
(Editing by Sophie Hares)
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Robert Zagunis, Jensen Quality Growth Fund, discusses how to invest as the markets digest economic malaise in Europe and uncertainty in China.
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New York ? Newt Gingrich seems to be the consensus winner of Tuesday night's Republican presidential debate. But will a "humane" stance toward immigration end his 15 minutes?
Newt Gingrich has risen to the top of the Republican presidential field largely because of his debating skills ? a point Gingrich himself made Monday, while arguing why he's the right candidate to face President Obama next November. He sustained that debating momentum in Tuesday night's CNN presidential debate on foreign policy, with most commentators declaring Newt the winner. His rivals, however, immediately pounced on his self-described "humane" idea that the U.S. should grant legal, non-citizen status to longtime undocumented immigrants who've forged family and community ties in the U.S. Did Gingrich's first debate as frontrunner confirm him as a "worthy adversary" to Mitt Romney, or will pushing "amnesty" for illegal immigrants reverse the gains he's made?
Newt just made it a two-man race: "Gingrich's dominant performance" put him head and shoulders above all rivals but Romney, says John LeBoutillier at Fox News. But Newt won the night by being clever and entertaining, while Mitt, as usual, was "B-O-R-I-N-G." Gingrich might get stung by "being basically pro-amnesty for long-term illegal immigrants," but it's more likely he'll soak up the supporters of "worn-out acts" Perry and Herman Cain. By February, this will a Romney-Gingrich race.
"Newt's surge continues"
Gingrich just killed his campaign: The debate's big takeaway is that "Gingrich is sticking his neck out on immigration, in a way that has already resulted in the decapitation of Rick Perry," says Edward McBride in The Economist. Newt showed that "he can sound presidential when he sets his mind to it," but he apparently doesn't understand that a "surprisingly humane and sane" immigration stance is a deal-breaker for the GOP base. Sorry Newt, but it's "time for [Rick] Santorum's surge."
"Live-blogging the Republican debate"
Win or lose, he's thinking big: Gingrich started his immigration pitch with "controlling the border," placing him not "far at all outside the Republican mainstream," says Kyle Wingfield in The Atlanta Journal-Constitution. But "kinda-sorta endorse[ing] amnesty" is clearly the kind of "forward-thinking maneuver" his non-Romney rivals failed to pull off. If it works, he'll bring independents and Hispanics "under the Gingrich tent" without losing conservatives. Tune in to talk radio to see if he bet right.
"Newt Gingrich?s immigration gambit"
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First lady Michelle Obama, along with Vice President Biden's wife Jill Biden, was presented as grand marshals of the NASCAR Sprint Cup Finale in Miami. Obama was booed by some members of the crowd.
While stipulating the NASCAR crowd is hardly part of President Barack Obama's base of support, the unpopularity of an American president rarely translates to his wife. Mrs. Obama enjoyed a 63 percent positive rating in a recent CNN poll, while her husband languishes in the mid-40s.
It would not be too difficult to overanalyze this incident. Sports fans tend to be raucous, especially after they have been well lubricated. It is possible the NASCAR crowd would have booed the Second Coming if it came before the big race.
On the other hand, Mrs. Obama has delved into controversy in her pet cause of getting people to eat healthy. Recently she opined that her favorite meal was steak and arugula. It seemed to be a somewhat Marie Antoinette type of statement. A lot of families in these difficult times are hard pressed to afford hamburger, not to mention steak.
Arugula, a leafy vegetable renowned for its peppery taste, is used in salad and tends to be more expensive than the romaine or iceberg lettuce that is usually in dinner salads. Her statement sounded to some ears like boasting about how well she eats compared to the hoi polloi.
Her campaign against childhood obesity, while well intentioned, is being greeted by many people as an attack on their parenting. A lot of two-income households do not have the time or the energy to cook a traditional family dinner where nutrition can be controlled to a certain extent. In too many homes, home delivered fast food or something that can be nuked quickly in the microwave have become the featured dinner. Harried parents are not likely to take very well someone lecturing them about feeding their children properly, especially if they are eschewing playing at the park for lying about with their game boys.
If one takes the view that the booing was personal, Mrs. Obama as a food Nazi is a good an explanation as ever.
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First Christina Aguilera, and now Katy Perry finds herself the subject of pregnancy rumors following the American Music Awards on Sunday.
So, is the singer/actress expecting?
PLAY IT NOW: Katy Perry Stuns At ?The Smurfs? NYC Premiere
"Hell no!" the 27-year-old, who is married to funnyman Russell Brand, emphatically told Hollyscoop when asked if she and her British husband were having a baby in the near future.
According to People, Katy joked about her "bloated belly" last week during a concert at New York's Madison Square Garden.
VIEW THE PHOTOS: Inside The 2011 American Music Awards
She reportedly told the crowd that she had been enjoying New York City's "delicious" food and she wasn't planning on becoming a mom just yet.
In more Katy news, on Monday it was announced that the star would host NBC's "Saturday Night Live" on December 10. Though she has previously appeared in skits on the show when she was the musical guest in September 2010, this marks her first time hosting.
Robyn will be the musical guest.
VIEW THE PHOTOS: Katy Perry & Russell Brand
Copyright 2011 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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PARIS ? Ratings agency Moody's has warned that France's creditworthiness remains under pressure after market jitters last week saw its borrowing costs rise to record levels.
In a weekly note, Moody's Investors Service analyst Alexander Kockerbeck says that if the high borrowing costs persist for an extended period it would have "negative credit implications" for the triple-A rated country's credit outlook.
The agency says France faces "significant downside risks," with a chance that higher taxes and lower spending will undermine the economic growth France needs to balance its budget by 2016, as pledged.
Moody's has a stable outlook on France's credit rating, but last month it said it might put France on notice for a possible downgrade because of weakening growth and the high cost of bailing out struggling neighbors and banks.
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The Fly Delta Android app has gotten a cool little update with a few new features, some of which you can use every time you fly, and some we hope you never have to use. Probably the most useful addition is the ability to pay for checked bags when check in on the app -- a necessary evil, unfortunately, but at least Delta's making it easier. And under the "hope you never have to use it" category is the ability to track your checked baggage from your phone. Delta's also added more technical information about the planes in its fleet (very cool for airplane buffs), and expanded airport maps, transit details, weather info and Sky Club locations -- perfect for frequent travelers.
We've got download links for ya after the break.
More: Top holiday travel apps | Top airline apps
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From Taylor Swift's sequined Reem Acra gown to Jennifer Morrison's white hot Temperley London dress, the stars at Sunday's American Music Awards in L.A. definitely set out to make a statement.
PHOTOS: 2011 AMERICAN MUSIC AWARDS RED CARPET STYLE
Katy Perry -- who's still rocking hot pink hair -- sported a vibrant Vivienne Westwood Couture gown, while Estelle slipped into Alberto Makali's white and black sequin cocktail dress.
PHOTOS: Celeb's priciest beauty indulgements
Nineteen-year-old Selena Gomez walked the red carpet with her beau Justin Bieber in a pewter Giorgio Armani gown. Jennifer Hudson chose a similar color with her metallic jersey drape-front cocktail dress by Jenny Packham.
PHOTOS: Stars rocking topknots
Other stars who hit the red carpet included Hillary Scott (in Rani Zakhem), Queen Latifah (in Edition by Georges Chakra), Kimberly Perry (in Bottega Veneta) and Audrina Patridge (in Boulee).
Tell Us: Who was your best-dressed star at the American Music Awards?
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LONDON?? A British judge has ordered paparazzi to stay away from Chinese actress Tinglan Hong ? the mother of actor Hugh Grant's child.
High Court justice Michael Tugendhat says Hong has been hounded outside her London home and feels that "her life has become unbearable."
Story: Hugh knew? Grant is dad to new baby girlHe has granted an injunction "prohibiting harassment" of the actress and her daughter.
The former captain of the boat from which actress Natalie Wood drowned in 1981 alleged on TODAY Friday that her husband, a...
The injunction was granted last week, and Tugendhat outlined his reasons on Friday.
Story: Fall in love with the men of rom-comsGrant's spokeswoman confirmed earlier this month that the actor had recently fathered a child after a brief fling, and he and Hong remain on good terms.
The judge said Grant and Hong "did their best to keep private" the fact that they had a child, "and do not know how the information reached the public domain."
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Google TV is finally starting to grow up, now that the Honeycomb update is rolling out. And following yesterday's Google Music announcement, you can now stream all of your music to the updated Google Music app for Google TV. Presumably your TV's hooked up to at least a decent stereo. If not, well, Christmas is right aroudn the corner.
Head into the Android Market on Google TV to download the app.
Source: Google TV blog
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URBANDALE, Iowa ? Rising in polls and receiving greater scrutiny, Republican presidential candidate Newt Gingrich found himself on the defensive Wednesday over huge payments he received over the past decade from the mortgage giant Freddie Mac.
Gingrich, who now is near the top in polling on the GOP race, said he didn't remember exactly how much he was paid, but a former Freddie Mac official said it was at least $1.5 million for consulting contracts stretching from 1999 to 2007. The official spoke on condition of anonymity to discuss a personnel matter.
Long unpopular among Republicans, federally backed Freddie Mac and its larger sister institution, Fannie Mae, have become targets for criticism stemming from the housing crisis that helped drive the nation deep into recession and then hampered recovery. Gingrich himself criticized Barack Obama in 2008 for accepting contributions from executives of the two companies.
Speaking with reporters in Iowa on Wednesday, Gingrich said he provided "strategic advice for a long period of time" after he resigned as House speaker following his party's losses in the 1998 elections. He defended Freddie Mac's role in housing finance and said, "every American should be interested in expanding housing opportunities."
On Tuesday, a House committee voted to strip top executives of Freddie Mac and Fannie Mae of huge salaries and bonuses and to put them on the same pay scale as federal employees. After disastrous losses, both companies were taken over by the government in 2008, and since then a federal regulator has controlled their financial decisions.
During the 2008 campaign, Gingrich suggested in a Fox News interview that presidential candidate Obama should return contributions he had received from executives of the two companies. He said that in a debate with Obama, GOP presidential nominee John McCain "should have turned and said, `Senator Obama, are you prepared to give back all the money that Freddie Mac and Fannie Mae gave you?'"
Gingrich sought Wednesday to portray his history with Freddie Mac as a sign of valuable experience.
"It reminds people that I know a great deal about Washington," he said. "We just tried four years of amateur ignorance, and it didn't work very well. So having someone who actually knows Washington might be a really good thing."
Fannie Mae and Freddie Mac buy home loans from banks and other lenders, package them into bonds with a guarantee against default and then sell them to investors around the world. The two own or guarantee about half of all U.S. mortgages and nearly all new mortgage loans.
Gingrich's history at Freddie Mac began in 1999, when he was hired by the company's top lobbyist, Mitchell Delk. He was brought in for strategic consulting, primarily on legislative and regulatory issues, the company said at the time. That job, which paid about $25,000 to $30,000 a month, lasted until sometime in 2002.
In 2006, Gingrich was hired again on a two-year contract that paid him $300,000 annually, again to provide strategic advice while the company fended off attacks from the right wing of the Republican Party.
Freddie Mac and Fannie Mae for years had been under scrutiny from Republicans on Capitol Hill who opposed government involvement in the mortgage business and wanted to scale back the companies' size and impose tough regulation.
In last Wednesday's Republican presidential debate, Gingrich sought to explain his role at Freddie Mac as that of a "historian" sounding dire warnings about the company's future. He said company officials told him "we are now making loans to people that have no credit history and have no record of paying back anything, but that's what the government wants us to do." He said his advice was to tell them, "this is insane."
Former executives dispute Gingrich's description of his role.
Four people close to Freddie Mac say he was hired to strategize with his employer about identifying political friends on Capitol Hill who would help the company through a very difficult legislative environment. All four spoke only on condition of anonymity to discuss the personnel matter freely.
Freddie Mac executives hoped Gingrich's presence would reflect positively on the company as he circulated among conservative groups and would help build intellectual support within his party, the officials said.
Before he resigned from Congress, Gingrich was working off debt he had taken on while he was in public life. He had been paying $1,000 per month to an ex-wife in alimony and more for child support and college for two daughters, according to divorce records and financial disclosure forms. The former House speaker also had been fined $300,000 for giving misleading information to investigators during a congressional ethics probe, which he paid off in 1999.
Gingrich's contract with Freddie Mac in 1999 came at the start of his most profitable years. He earned up to $50,000 for speaking engagements, signed radio and TV deals and started his own consulting firm, The Gingrich Group, all of which brought in income. Gingrich had a net worth of at least $6.7 million last year, according to disclosure documents.
His hiring by Freddie Mac was a small ? but because of his name, important ? piece of a much larger initiative by the company.
Government-sponsored Freddie Mac and Fannie Mae have long been embraced by Democratic politicians in Washington as champions of affordable housing, but they have had few supporters on the political right.
Freddie Mac executive Hollis McLoughlin sought to remedy that by hiring conservative consultants, including Gingrich.
Before Gingrich was hired, Freddie Mac paid $2 million to a Republican consulting firm in hopes of killing legislation that would have regulated and trimmed both companies. The legislation died without coming to a vote in the Senate. But the danger of regulation wasn't dead, so Freddie Mac hired more consultants, Gingrich among them.
Internal Freddie Mac budget records show $11.7 million was paid to 52 outside lobbyists and consultants in 2006, all of them former Republican lawmakers and ex-GOP staffers. Besides Gingrich, the hires included former Sen. Alfonse D'Amato of New York, former Rep. Vin Weber of Minnesota and Susan Hirschmann, the former chief of staff to ex-House Majority Leader Tom DeLay of Texas.
Fannie Mae and Freddie Mac had traditionally purchased a small number of subprime mortgage loans, which involved borrowers with credit problems who could not qualify for cheaper prime loans. But starting in the late 1990s many firms started purchasing subprime loans, and Fannie and Freddie followed suit.
___
Pete Yost reported from Washington. AP economics writer Derek Kravitz in Washington contributed to this report.
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BUDAPEST, Hungary ? Hungary is looking for more help from the International Monetary Fund as it looks to shore up its finances in the face of a widening European debt crisis and worries over its own credit rating.
In a big reverse of recent policy, Hungary's economy ministry said Thursday it's looking for a "new type of cooperation" with the Washington-based Fund but insisted that it wasn't looking for another loan.
The IMF said it had not yet received a request from the Hungarian government to initiate talks.
In the past week, Fitch and Standard and Poor's warned that Hungary's economic prospects have deteriorated, thereby putting the country on notice for a ratings downgrade. Hungary is a member of the 27-nation European Union but is not one of the 17 countries that use the euro currency.
Despite efforts to reduce the budget deficit ? it's around 74 percent of national income ? Hungary's debt burden is one of the highest in Eastern Europe, while its high dependence on foreign financing makes it one of the most vulnerable in the region.
The ministry did not provide details of the agreement it was seeking with the IMF, saying in a statement only that it would not be a loan but an "insurance policy which increases investors' security in Hungary." That suggests that Hungary may be looking for some sort of credit line from the IMF.
Hungary received a $25.1 billion IMF-led bailout in 2008, during the previous Socialist-led government. Current Prime Minister Viktor Orban, whose center-right Fidesz party secured a two-thirds majority in the 2010 elections, decided not to renew a standby loan agreement last year.
As recently as Monday, Economy Minister Gyorgy Matolcsy said that "this three-letter institution is opposed to every single one of our steps," repeating the government view that its "unorthodox" economic policies are not compatible with the IMF's usual recommendations.
Orban and Matolcsy have often said they preferred not to have a deal with the IMF ? even though the market consensus was that such a "safety net" would boost investor confidence ? because the lender would impose austerity measures which the government is unwilling to implement.
Instead, Hungary has looked to raise taxes on the banking, telecommunications, energy and other sectors, and has nationalized some $14 billion of assets formerly managed by private pension funds to help it achieve its strict budget deficit targets.
Iryna Ivaschenko, the IMF representative in Budapest, said the IMF delegation currently in Hungary to conduct a review of the economy "is not a negotiating mission, but a mission to conduct the regular economic surveillance that the IMF performs for all member countries."
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PARIS (Reuters) ? None of the world's major economies will escape a slowdown, the Organization for Economic Co-operation and Development said on Monday, highlighting increasing signs that growth momentum is dwindling across the board.
The Paris-based organization's composite leading indicator (CLI) for its members fell for the seventh straight month to 100.4 in September, down from 100.9 in August and hitting the lowest reading since December 2009.
Readings for individual countries and big developing world economies were broadly lower at levels indicating slowdowns, and were in many cases below their long-term averages.
"Compared to last month's assessment, the CLIs point more strongly to slowdowns in all major economies," the OECD said in a statement.
The OECD CLIs are designed to anticipate turning points in economic activity relative to trend -- a turnaround in an indicator tends to precede turning points in economic activity by around six months.
The Group of Seven's CLI fell to 100.6 in September from 101.1 in August while the reading for the euro area dropped to 99.1 from 99.9, well below its long-term average of 100.
Japan's CLI remained above its long-term average of 100 with a reading of 101.6, but it was still down from 102.0, suggesting an economic recovery after its March earthquake and tsunami disaster is losing steam.
Economic momentum in the United States eased only slightly, according to the OECD's indicator, which fell to 101.2 from 101.5.
The Chinese economy also showed only marginally weaker activity with a reading of 99.8, down from 99.9. Among other emerging market economies, Brazil's CLI fell to 94.0 from 95.1 while India's reading decreased to 93.8 from 94.4.
In a report released at the end of last month, the OECD slashed its 2012 growth estimate for the United States to 1.8 percent from 3.1 percent and cut its forecast for growth in the euro area next year to 0.3 percent from 2.0 percent in May.
(Reporting by Leigh Thomas; Editing by Catherine Evans)
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The Kardashian clan definitely knows how to throw a memorable party. Less than one month after big sister Kim Kardashian celebrated her 31st birthday in Las Vegas, Kendall Jenner enjoyed a luxe bash in honor of her sweet 16 at the Andaz Hotel in Los Angeles.
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HONOLULU ? Sounding increasingly frustrated as a deadline for action approaches, President Barack Obama accused lawmakers on a congressional supercommittee of refusing to budge off their rigid positions and find a solution to the country's yawning deficit.
And with Republicans unwilling to cooperate on his jobs bill, Obama said it might take a new Congress to get his jobs package done.
"It feels as if people continue to try to stick with their rigid positions rather than solve the problem," Obama said of the 12 members of the bipartisan deficit committee, spreading criticism among Republicans and Democrats alike at a wide-ranging news conference Sunday capping an economic summit in his home state of Hawaii.
"My hope is that over the next several days, the congressional leadership on the supercommittee go ahead and bite the bullet and do what needs to be done, because the math won't change. There's no magic formula," Obama said. "There are no magic beans that you can toss on the ground and suddenly a bunch of money grows on trees. We got to just go ahead and do the responsible thing."
Obama spoke as lawmakers on the specially created committee appeared deadlocked with a Nov. 23 deadline fast approaching to find more than $1 trillion in deficit cuts or trigger harsh spending cuts across federal programs including the Pentagon. The president rejected the idea of softening the triggering mechanism, as some have proposed, though he stopped short of threatening to veto such a move.
"I still hold out the prospect that there's going to be a light-bulb moment where everybody says `Ah-ha! Here's what we've got to do," said Obama. He repeated his call for a "balanced approach" that would raise taxes on the wealthy and corporations while also making cuts in entitlement programs and elsewhere. Republicans on the committee would couple any revenue increases with lowering tax rates in a way the White House says would unduly benefit the wealthy.
Obama also defended his policies on Iran, struck back at criticism from the GOP presidential field, and addressed the fate of his stalled jobs bill as Washington politics followed him to Hawaii, where he's on the first part of a nine-day trip aimed at building ties and finding economic opportunities in the fast-growing Asia Pacific. Obama, who played host to the 21-member Asia-Pacific Economic Cooperation summit here, leaves Tuesday for Australia before ending his trip in Indonesia.
Along the way, he's not neglecting his re-election campaign: the president was scheduled to raise money Monday at a campaign event at the Aulani Disney Resort in Kapolei, Hawaii.
Once he returns to Washington Nov. 20, the president will grapple once again with Republicans who've agreed to only one sliver so far of his $447 billion jobs package of tax credits and public works spending ? a measure passed by the Senate last week to boost hiring of veterans. But Obama contended Sunday that any failure of the jobs package would hurt Republicans more than him, and he said he'd continue promoting it even if it takes him past next year's elections.
"I'm going to keep on pushing," Obama said. "My expectation is that we will get some of it done now, and I'll keep on pushing until we get all of it done. And that may take me all the way to November to get it all done. And it may take a new Congress to get it all done."
Obama said he hoped Republicans would "recognize that doing nothing is not an option ... And that should be their hope, too, because if they don't, I think we'll have a different set of leaders in Congress."
With jobs at the top of the agenda for voters heading into the 2012 presidential election, Obama's sought to connect his travels to the domestic economy, and he renewed the point at the news conference held outdoors Sunday evening against a spectacular Hawaii backdrop of palm trees and rolling waves.
"No region will do more to shape our long-term economic future than the Asia Pacific region," Obama said.
Obama also defended his efforts to halt the Iranian nuclear threat, saying that the economic sanctions against the country have had "enormous bite," and that he is united with Russian and Chinese leaders in ensuring Iran does not develop an atomic weapon and unleash an arms race across the Middle East.
Republican presidential contenders, including former Massachusetts Gov. Mitt Romney, have assailed Obama for not doing more to keep Iran from getting nuclear weaponry. Said Obama: "Is this an easy issue? No. Anyone who claims it is is either politicking or doesn't know what they're talking about."
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SANAA, Yemen (AP) ? Yemeni government forces and allied tribesmen killed ten militants in attacks around the country Sunday, security officials said, as a visiting United Nations envoy met with embattled President Ali Abdullah Saleh to push for a solution to the country's political crisis.
Security has collapsed across the Arab world's poorest nation during the nine-month popular uprising seeking to oust Saleh, who has been in power for 30 years.
Pro-Saleh forces regularly engage in deadly clashes with armed tribesmen and military defectors who support the protesters in Yemen's largest cities, and al-Qaida-linked militants have overrun entire towns in the country's restive south.
Meanwhile, international diplomacy has failed to stop the crisis. Saleh has refused numerous times to follow through with a U.S.-backed proposal crafted by Yemen's powerful Gulf Arab neighbors under which he would transfer power to his vice president in exchange for immunity from prosecution.
Two of Sunday's clashes took place near Zinjibar, the largest town overrun by al-Qaida-linked militants in Yemen's southern Abyan province, now partially recaptured by the army. In one clash, tribesmen allied with government forces exchanged fire with militants at a checkpoint, killing three including two Somali citizens, an official said. In the other, the army shelled a militant position, killing five including two Saudi citizens.
In the Arhab region north of the capital Sanaa, Yemeni forces shelled positions held by armed anti-government tribesmen, killing two, another security official said.
The officials spoke on condition of anonymity because they were not authorized to brief the media.
In Sanaa, U.N. envoy Jamal Benomar met Saleh to push for a transfer of power.
The U.N. said Benomar's weeklong visit to Yemen was intended to encourage the Gulf-backed proposal, which the Security Council has endorsed.
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AMMAN (Reuters) ? Security forces shot dead four people who shouted slogans against President Bashar al-Assad at a rally organised by the authorities in the city of Hama on Sunday to show popular anger at an Arab League decision to suspend Syria, local activists said.
"Security forces were leading public workers and students into Orontes Square when groups broke away and started shouting 'the people want the fall of the regime'," one of the activists in Hama, 240 km (150 miles) north of Damascus, said.
"They escaped into the alleyways but were followed, and four were killed," the activist added.
State television said millions of Syrians assembled in public arenas across the country to denounce the Arab League decision, which came in response to a crackdown by Assad's forces on pro-democracy protesters, which the United Nations says has killed 3,500 people.
Syrian officials blame the unrest on "terrorists" and foreign backed Islamist militants and say that 1,100 soldiers and police have been killed.
The television showed crowds carrying Syrian flags and posters of Assad at public squares in Damascus, the eastern city of Raqqa and the coastal cities of Latakia and Tartous.
Syrian authorities have banned most independent media since the uprising demanding political freedoms and an end to 41 years of Assad family rule began in March.
(Reporting by Khaled Yacoub Oweis, Amman newsroom; Editing by Michael Roddy)
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ALBUQUERQUE, New Mexico ? Jordanian immigrants take Communion at an Arabic-language Mass in Albuquerque. Lebanese-Americans help raise nearly $2 million for major improvements to a West Virginia church. Iraqi refugees who practice an ancient religion that views John the Baptist as their teacher hold baptisms in a Massachusetts pond popular for rowing regattas.
As war, the economy and persecution by Muslim extremists push Arab Christians and religious minorities out of the Middle East, the refugees and immigrants are quietly settling in small pockets across the U.S.
They are reviving old, dormant churches, bringing together families torn apart by war and praying collectively in Aramaic, the language spoken by Jesus. Religious experts say their growing presence in the U.S. is all about survival as Christians and religious minorities continue to get pushed out of the Holy Land.
And religious leaders said if violence continues, more can be expected to seek safety in the U.S. while disappearing in lands where they're lived for 2,000 years.
"For every plus in the U.S., there's a minus back there," said the Rev. Bakhos Chidiac, pastor of St. Rafka Maronite Church of Lakewood, Colorado. "It's very sad."
According the U.S. State Department's 2011 reports on International Religious Freedom, for example, Iraq had an estimated Christian population of around 1.4 million before the U.S.-led invasion. The report says only around 400,000 to 600,000 remain and face increasing violence.
No one knows exactly how many Christians and religious minorities have fled persecution or come willingly for economic reasons into the U.S.
But from Michigan to Louisiana, observers have noticed an increase in services like those from Maronite Catholics ? an Eastern Rite branch of Catholicism with roots in Lebanon and Syria. Maronites are part of the Catholic church, are recognized by the Pope and hold the same core beliefs as Roman Catholics. Mass is often held in Arabic and Aramaic.
Residents in Worcester, Massachusetts, also have looked with curiosity as hundreds of recently resettled Iraqi refugees, who practice the pre-Christian Mandaean religion, hold early morning baptisms in Lake Quisigamond. Mandaeans have seen their population decrease in Iraq from 70,000 in the 1990s to just 3,000 today. In addition, more than 1,000 Iranian Mandaeans have fled to the U.S. after Iran passed laws prohibiting Mandaeans in civil life.
"When I left my village in Jordan in 1969, there were about 15,000 Christians there," said Sharif Rabadi, 60, an Albuquerque developer and businessman. "I think now there are less than 3,000 of us left."
Joseph Amar, director of programs in Arabic and Syriac at the University of Notre Dame, said that while the exodus is bad for Christianity in the Middle East, the move to the U.S. and other parts of the world is allowing followers to continue practicing their religion without fear of death or forced conversions. "Many come to cities with no familiar church and will just attend Roman Catholic services," Amar said.
But as the populations from Arab countries grow in U.S. cities and towns, Amar said the immigrants and refugees tend to come together to organize separate services at churches that allow them to use their facilities.
That's what happened recently at Our Lady of Perpetual Help Byzantine Catholic Church in Albuquerque. For more than a year, the Ruthenian Catholic Church has allowed immigrants from Jordan, Lebanon, Egypt, Syria and Iraq to use its facilities once a month for Maronite services. Chidiac is flown in from Colorado to give English services according to the Maronite rite.
This week, however, Chidiac performed Maronite Catholic services in Arabic for about 60 Albuquerque attendees. Officials with the Archdiocese of Santa Fe believe the Catholic Mass in Arabic was a first for New Mexico ? a state with the longest continuous Catholic presence in the present-day United States
During the service, attendees clutched Arabic Bibles, responded to prayers in Arabic and sang hymns some say they hadn't heard in 20 years.
George Saade, a member of the church who just moved in Albuquerque from Alabama, helped organize the Arabic Mass via Facebook and through other Catholic church bulletins. "It's been 15 years since I've attended a Mass in Arabic," said Saade, 39, who is originally from Lebanon. "I've been waiting for this for a long time."
Reham Haddad, 40, wanted her two youngest children to attend so they could experience a Mass as she did more than 18 years ago. "They understand Arabic but it's different when you pray," she said. "I think they liked it."
Chidiac said he was pleased with the turnout and thinks Arabic services could grow if the Albuquerque population wanted it. "This is how it starts ... in a small church room," he said. "Then, maybe later, they can get their own church."
___
Follow Russell Contreras on Twitter at http://twitter.com/russcontreras
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Hulking engineering projects built with 230,000 tons of concrete generally don?t float. Washington state, however, knows a little about how to make so much mass actually buoyant.Washington owns the four longest floating bridges in the world. The longest, State Route 520, connects Seattle to points east over Lake Washington, which dips to 214 feet deep. That means a straight-line suspension bridge is out of the equation, and a suspension bridge in water that deep would require a bridge tower the height of Seattle?s Space Needle. Conventional bridges have proven too expensive to build in deep waters with soft beds, so floating a bridge over Lake Washington pencils out as the only possible solution to carry the roughly 115,000 daily vehicles.
Now the Route 520 bridge is getting even longer. And as Washington State?s Department of Transportation (WSDOT) starts reconstructing the world?s longest floating bridge, originally built in 1963, it has spent years developing a new bridge design and even a specialized concrete and concrete-pouring method, setting a new standard for floating bridges worldwide. The new bridge, which should open by 2014, will extend the span from 7578 feet (about 1.5 miles) to 7710 feet, and feature 77 concrete pontoons serving as the foundation for a six-lane, 116-foot-wide bridge deck.
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