Thursday, July 12, 2012

US tries to balance values, economies in Asia

PHNOM PENH, Cambodia (AP) ? The Obama administration now has a taste of the difficult diplomacy necessary to sharpen the focus of American power on Asia, seeking investment opportunities alongside reforms from rights-abusing governments and working with China while defending U.S. interests.

From democratic Mongolia to once-hostile Vietnam and long-isolated Laos, Secretary of State Hillary Rodham Clinton this week faced governments eager to embrace the United States as a strategic counterweight to China's expanding military and economic dominance of the region, while still lukewarm about American demands for greater democracy and rule of law.

And after meeting face-to-face with China's foreign minister Thursday as she began to wrap up a weeklong tour of Asia, Clinton lauded Washington's cooperation with Beijing even as she took up the case of several Southeast Asian nations threatened by the communist government's expansive claims over the resource-rich South China Sea.

In the discussions across the world's most populous continent, U.S. officials outlined their belief in greater democracy and freedom for Asian nations. The vision is part of a larger Obama administration effort to change the direction of U.S. diplomacy and commercial policy and redirect it to the place most likely to become the center of the global economy over the next century.

It is also a reaction to the region's slide toward undemocratic China as its economy has boomed and America's has struggled.

"As we've traveled across Asia, I've talked about the breadth of American engagement in this region, especially our work to strengthen economic ties and support democracy and human rights," Clinton told reporters Thursday. "This is all part of advancing our vision of an open, just and sustainable regional order for the Asia-Pacific."

Clinton will meet Friday with Myanmar's reformist President Thein Sein and introduce him to American business leaders looking for investment opportunities. The U.S. eased sanctions on the once reclusive military dictatorship this week, opening up new opportunities for the administration as it seeks to double American exports.

Still, Clinton said she would urgeThein Sein to do more. "Political prisoners remain in detention," she said. "Ongoing ethnic and sectarian violence continues to undermine progress toward national reconciliation, stability and lasting peace. And fundamental reforms are required to strengthen the rule of law and increase transparency."

The tour started in Japan, where Clinton assured a long-time ally the U.S. was committed to its security. From there, she visited four countries in China's backyard, part of a larger economic area among the world's most dynamic. Up to now, however, China has taken the most advantage.

In each place, Clinton was careful to make the case for American values alongside American business aspirations. It's unclear, however, if both messages were received.

In Ulan Bator, she credited Mongolia with liberalizing economically as well as politically, holding it up as a foil to the Chinese model of growth without freedom. And she offered deeper U.S. partnerships with communist governments in Vietnam, Laos and Cambodia, which have looked to Washington for fear of being swallowed up by China's expanding power.

But while two-way trade between Vietnam and the U.S. has soared by 40 percent in the last two years, there has been little improvement in the Vietnamese government's respect for dissidents. Laos may seek similar business relations with the U.S., but has yet to show any willingness to rectify its poor labor rights record.

What Washington doesn't want with these countries is what it has with Beijing, a partnership of unprecedented economic integration that stops when the discussion turns to human rights, democracy or sharing a vision for the world. It's a relationship that neither side appears able to change, both equally reliant on the other's goods and consumers, while mistrustful of the other's intentions.

"We are committed to working with China within a framework that fosters cooperation where interests align, and manages differences where they don't," Clinton said.

In probably her most difficult work of the week, Clinton pressed Beijing on Thursday to accept a code of conduct for resolving territorial disputes in the South China Sea, a U.S. mediation effort that has faced resistance from China..

Meeting on the sidelines of the Association of Southeast Asian Nations' annual gathering, Clinton stressed the different ways Washington and Beijing are cooperating, while Chinese Foreign Minister Yang Jiechi spoke of building even closer U.S.-Chinese ties.

Neither side mentioned the South China Sea while reporters were in the room. Afterward, according to U.S. officials, they got into the sensitive talk of the South China Sea, an issue that has caused grave concerns among China's neighbors and the wider world as tensions have threatened to boil over amid standoffs between Chinese and Philippine ships and competing Chinese and Vietnamese claims.

While China's claim over the entire area has driven countries closer to Washington, countless hours of talks between U.S. and Chinese officials haven't led to progress on a lasting solution. The waters host about a third of the world's cargo traffic, rich fishing grounds and vast oil and gas reserves ? economic opportunities the U.S. would be locked out of if China were to seize total control.

Clinton, however, again framed it as a question of principles.

"The United States has no territorial claims there and we do not take sides in disputes about territorial or maritime boundaries," she told foreign ministers gathered in Cambodia's capital. "But we do have an interest in freedom of navigation, the maintenance of peace and stability, respect for international law and unimpeded lawful commerce in the South China Sea."

She singled out "confrontational behavior" in the disputed Scarborough Shoal off northwestern Philippines, including the denial of access to other vessels. The actions she cited were China's, though she didn't mention the offending country by name.

"We have seen worrisome instances of economic coercion and the problematic use of military and government vessels in connection with disputes among fishermen," she said. "There have been a variety of national measures taken that create friction and further complicate efforts to resolve disputes."

Despite publicly exhorting both China and Southeast Asian nations to diplomatically settle their disputes, a State Department release made no mention of the issue and instead spoke of Sino-American cooperation on everything from disaster relief to tiger protection. The issues were clearly secondary, but reflected an effort to compartmentalize any confrontation with Beijing and paint a larger picture of collaboration.

Source: http://news.yahoo.com/us-tries-balance-values-economies-asia-162416191.html

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Bainday (TIME)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/237634210?client_source=feed&format=rss

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95 killed in rush for ?free fuel? in Nigeria tanker fire

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Source: http://news.yahoo.com/blogs/lookout/nigerian-tanker-explosion-dead-free-fuel-134431914.html

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Wednesday, July 11, 2012

Channing Tatum to Produce and Star in Evel Knievel Biopic

Channing Tatum arrives at a special U.K. screening of "Magic Mike."

Credit: AP Photo/Joel Ryan

Channing Tatum is seriously Evel.

Coming off his starring turn in this summer's breakout success "Magic Mike," the newly-minted A-lister is in talks to star as Evel Knievel in a new biopic about the legendary stuntman's life, according to The Hollywood Reporter. The actor will also produce the film alongside his Iron Horse Entertainment partner Reid Carolin, with Carolin on board to adapt from Stuart Baker's 2008 biography "Life of Evel: Evel Knievel."

Knievel reached the height of his fame in the 1970s, becoming known for his daring (and often disastrous) attempts at performing extreme motorcycle jumps. A 1977 battery conviction marked the beginning of a downward slide for the performer, who was eventually forced to declare bankruptcy and would spend several years in relative obscurity before enjoying a career resurgence in the 1990s. He died in 2007 at the age of 69.

Tatum has been on a roll as of late; in addition to "Magic Mike," he scored hits this year with the romantic drama "The Vow" opposite Rachel McAdams and "21 Jump Street" co-starring Jonah Hill. He'll next be seen in director Steven Soderbergh's "The Bitter Pill" alongside Rooney Mara, Jude Law and Catherine Zeta-Jones, as well as the action sequel "G.I. Joe:?Retaliation,"?which was recently booted from its Summer 2012 slot and pushed to March 29, 2013.

Is an Evel Knievel biopic something you're interested in seeing? Think Tatum is the right choice to play him? Sound off in the comments!

Source: http://www.rottentomatoes.com/m/1925527/news/1925527/

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Attacks on Romney for offshore assets, taxes heat up

CEDAR RAPIDS, Iowa/GRAND JUNCTION, Colo. (Reuters) - President Barack Obama's re-election team stepped up attacks on Mitt Romney for holding offshore assets and urged him to release more tax returns, pushing hard on an issue that could be a weak point for the Republican presidential candidate.

The Obama campaign and top Democrats took to the Internet and airwaves on Tuesday with accusations that Romney is being secretive about his wealth as they seek to cement an image of the Republican candidate as a multi-millionaire who is out of touch with ordinary Americans.

The intensity of the Democrats' criticism suggested they feel they have got hold of an issue that could knock points off Romney's opinion poll numbers, like they did by accusing him of firing blue-collar workers when he was an executive at Bain Capital private equity firm.

An ad from the Obama campaign urged Romney to release more tax returns to give details of money in foreign havens like the Cayman Islands and Bermuda.

"Why is Mitt Romney hiding the rest of his tax returns?" asked a new Obama ad, which had the sound of a ticking clock in the background. "How long can Romney keep information on his investments in overseas tax havens secret? And why did he do it in the first place?"

Republicans say the focus on Romney's personal wealth - estimated at up to $250 million - is an attempt to divert attention from Obama's failure to improve the struggling economy and high unemployment rates.

Obama's running mate, Vice President Joe Biden, joked in a speech to a Hispanic group about Romney's reluctance to release more than two years of tax returns.

"He wants you to show your papers, but he won't show us his," Biden said, referring to Romney's support for a tougher line against illegal immigration.

OUT OF TOUCH

"And this is a man who says President Barack Obama is out of touch. Out of touch with the needs of the American people. This coming from a man who until recently had a Swiss bank account and millions of dollars invested in the Grand Cayman Islands ... beyond scrutiny," Biden said.

Romney, who is one of the richest men ever to run for U.S. president, has released his 2010 tax returns and estimates for 2011 but has been reluctant to make public any more.

His taxes were an issue during the Republican primaries when it became known that he is paying an effective tax rate of around 15 percent, lower than that paid by most top wage earners. The issue resurfaced in recent days due to media articles about his investments abroad.

The former Massachusetts governor says the foreign holdings are handled by blind trusts which he does not control.

"I can assure you of this - I have followed the law, I have paid my taxes as due," Romney said on the Sean Hannity radio show.

"What he has done is one attack after another ... suggesting that I would engage in something that is illegal, that is criminal, that I would hide assets and not pay the taxes that were owed. It's amazing," Romney said.

Obama extended his lead over Romney to 6 percentage points in a Reuters/Ipsos poll released on Tuesday.

It was unclear how effective the attacks on Romney's personal wealth and offshore assets might be. But surveys have shown that a previous portrayal by Democrats of Romney as an out-of-touch rich man did hit his poll numbers.

Negative ads targeting him as a job killer during his time as an executive in the 1980s and 1990s lowered support for the Republican in swing states.

In Grand Junction, Colorado, Romney turned around earlier accusations by Obama that Bain Capital outsourced U.S. jobs to cheaper countries abroad.

"By putting money into energy companies - solar and wind energy companies that end up making their products outside the united states. If there's an outsourcer in chief, it's the president of the United States, not the guy who's running to replace him," Romney said.

OBAMA AND 'TAX FAIRNESS'

Obama pushed his message of "tax fairness" on a visit to the election battleground state of Iowa where he touted calls for middle-class tax relief and painted Republicans as the party that favors the rich.

A day after he proposed extending Bush-era tax cuts for families making less than $250,000 annually, Obama told a campaign rally that if Congress did not act, the average family of four would have to pay about $2,200 more in taxes next year.

In an effort to portray himself as able to understand ordinary Americans, Obama noted how he and his wife Michelle also worked hard to manage all the different bills during the early years of their marriage.

"We should make sure the taxes on the 98 percent of Americans don't go up and then we should let the tax cuts expire for folks like me, for the top 2 percent of Americans," Obama, his top shirt button undone and tie casually askew, told a cheering crowd of about 1,600 at a local community college.

"To give me another tax break, or to give Warren Buffett another tax break or to give Mitt Romney another tax break, that would cost ... about a trillion dollars. And we can't afford it," he said.

The Democratic president's emphasis over two days on tax relief gave him an opportunity to shift attention away from his handling of the economy after government data last week showed another month of weak job growth.

"People are worried about their own bank accounts, not Mitt Romney's bank accounts," said Tony Fratto, a Republican consultant and former deputy spokesman for President George W. Bush.

"These are silly diversions that the Obama campaign is trying to throw out there to avoid talking about the real issues that people are worried about which are jobs," he said.

Former Republican Party chair Haley Barbour said on CNN on Monday that if he were in Romney's shoes, he would release more than two years of tax returns.

But like other Republicans, Barbour said it should not be a campaign issue. "I don't think it amounts to diddly," he said.

In April, Romney estimated his tax liability at $3.2 million for last year, having released estimates in January indicating he expected his family's income for 2011 to be $20.9 million. That would put his tax rate at about 15.3 percent, far below the top U.S. tax rate on wages of 35 percent.

The Obamas paid an effective tax rate of 20.5 percent on income of $789,674 last year, the White House said. They earned half their income from his presidential salary of $395,000 and the rest from book sales.

(Writing by Debbie Charles; editing by Alistair Bell and Mohammad Zargham)

Source: http://news.yahoo.com/obama-takes-tax-fight-election-battleground-iowa-001302616.html

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China?s Top Mobile Ad Network, I-Media, Picks Up $20M From Kleiner Perkins, IDG

i-media chinaChina is currently the largest mobile market in the world, and that is having a knock on effect on mobile investments into startups in the country: I-Media, a mobile ad network that claims to be China's largest with projected 2012 revenues of RMB 300 million ($47 million), today formally announced that it has picked up a $20 million Series B round of funding led by Kleiner Perkins Caufield Byers with participation from previous investor IDG. To date, it's raised $30 million. I-Media's CEO Shu Yi had actually noted the investment back in April but didn't provide more details about investors or strategy at the time. Today, I-Media said it will be using the funding to grow its activities in the Chinese market as well as expanding further into other markets in Asia: the focus will be on more products, better ad serving technology and getting a larger base of buyers and sellers for its network, which runs across mobile apps as well as mobile websites. Given how rapidly the Chinese market is growing, and the need to move quickly accordingly, that could also mean I-Media making acquisitions and consolidation of further mobile ad players.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/dYgWjE-lmXw/

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Tuesday, July 10, 2012

It's official: First half ot 2012 was hottest on record

Scorching temperatures in June's second half helped the continental United States break its record for the hottest first six months in a calendar year, the National Oceanic and Atmospheric Administration said on Monday, July 9,? topping off the hottest 12 months since modern records began.

Source: http://news.yahoo.com/photos/u-s-heat-wave-slideshow/

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