French seal off Mali's Timbuktu, rebels torch library


GAO, Mali (Reuters) - French and Malian troops retook control of Timbuktu, a UNESCO World Heritage site, on Monday after Islamist rebel occupiers fled the ancient Sahara trading town and torched several buildings, including a library holding priceless manuscripts.


The United States and the European Union are backing a French-led intervention in Mali against al Qaeda-allied militants they fear could use the West African state's desert north as a springboard for international attacks.


The recovery of Timbuktu followed the swift capture by French and Malian forces at the weekend of Gao, another major town in Mali's north that had been occupied by the alliance of jihadist groups since last year.


The two-week-old mission by France in its former Sahel colony, at the request of Mali's government, has driven the Islamist rebels northwards out of towns into the desert and mountains.


Without a shot being fired, 1,000 French soldiers and paratroopers and 200 Malian troops seized Timbuktu airport and surrounded the town on the banks of the Niger River, looking to block the escape of insurgents.


In both Timbuktu and Gao, cheering crowds turned out to welcome the French and Malian troops.


A third town in Mali's vast desert north, Kidal, had remained in Islamist militant hands. But Malian Tuareg MNLA rebels, who are seeking autonomy for their northern region, said on Monday they had taken charge in Kidal after Islamist fighters abandoned it.


A diplomat in Bamako confirmed the MNLA takeover of Kidal.


A French military spokesman said the assault forces at Timbuktu were avoiding any fighting inside the city to protect the cultural treasures, mosques and religious shrines in what is considered a seat of Islamic learning.


But Timbuktu Mayor Ousmane Halle told Reuters departing Islamist gunmen had four days earlier set fire to the town's new Ahmed Baba Institute, which contained thousands of manuscripts.


UNESCO spokesman Roni Amelan said the Paris-based U.N. cultural agency was "horrified" by the news of the fire, but was awaiting a full assessment of the damage.


Ali Baba, a worker at the Ahmed Baba Institute, told Sky News in Timbuktu more than 3,000 manuscripts had been destroyed. "They are bandits. They have burned some manuscripts and also stole a lot of manuscripts which they took with them," he said.


Marie Rodet, an African history lecturer at Britain's School of Oriental and African Studies, said Timbuktu held one of the greatest libraries of Islamic manuscripts in the world.


"It's pure retaliation. They (the Islamist militant rebels) knew they were losing the battle and they hit where it really hurts," Rodet told Reuters. "These people are not interested in any intellectual debate. They are anti-intellectual."


ISLAMISTS "ALL FLED"


The Ahmed Baba Institute, one of several libraries and collections in Timbuktu containing fragile documents dating back to the 13th century, is named after a Timbuktu-born contemporary of William Shakespeare and houses more than 20,000 scholarly manuscripts. Some were stored in underground vaults.


The French and Malians have encountered no resistance so far in Timbuktu. But they will now have to comb through a labyrinth of ancient mosques, monuments, mud-brick homes and narrow alleyways to flush out any hiding fighters.


The Islamist forces comprise a loose alliance that groups Al Qaeda in the Islamic Maghreb (AQIM) with Malian Islamist group Ansar Dine and AQIM splinter MUJWA.


They have retreated in the face of relentless French air strikes and superior firepower and are believed to be sheltering in the rugged Adrar des Ifoghas mountain range, north of Kidal.


The MNLA Tuareg rebels who say they now hold Kidal have offered to help the French-led offensive against the al Qaeda-affiliated Islamists. It was not clear, however, whether the French and Malians would steer their offensive further towards Kidal, or hold negotiations with the MNLA.


FRANCE: MALI "BEING LIBERATED"


The world was shocked by Timbuktu's capture in April by Tuareg fighters, whose separatist rebellion was later hijacked by Islamist radicals who imposed severe sharia (Islamic law).


Provoking international outrage, the Muslim militants - who follow a more radical Salafist brand of Islam - destroyed dozens of ancient shrines in Timbuktu sacred to Sufi Muslims, condemning them as idolatrous and un-Islamic.


They also imposed a strict form of Islamic law, or sharia, authorizing the stoning of adulterers and amputations for thieves, while forcing women to go veiled.


On Sunday, many women among the thousands of Gao residents who came out to celebrate the rebels' expulsion made a point of going unveiled. Other residents smoked cigarettes and played music to flout the bans previously imposed by the rebels.


Hundreds of troops from Niger and Chad have been brought to Gao to help secure the town.


"Little by little, Mali is being liberated," French Foreign Minister Laurent Fabius told France 2 television.


Speaking at a news conference in Paris, French President Francois Hollande said French troops would take a step back once the job of retaking key towns was complete, and Malian and other African troops would take over the task of hunting the rebels.


"They are the ones who will go into the northern part, which we know is the most difficult because that's where the terrorists are hiding," Hollande said.


As the French and Malian troops thrust into northern Mali, African troops for a U.N.-backed continental intervention force for Mali, expected to number 7,700, are being flown into the country, despite severe delays and logistical problems.


Outgoing African Union Chairman President Thomas Boni Yayi of Benin scolded AU states at a weekend summit in Addis Ababa for their slow response to assist Mali while former colonial power France took the lead in the military operation.


Burkina Faso, Benin, Nigeria, Senegal, Togo, Niger and Chad are providing soldiers for the AFISMA force. Burundi and other nations have pledged to contribute.


AU Peace and Security Commissioner Ramtane Lamamra said these regional troops could play a useful "clean-up" role once the main military operations against the Islamist rebels end.


Speaking in Addis Ababa on Monday, U.N. Secretary-General Ban Ki-moon said the U.N. was "actively considering" helping the troop-contributing African countries with logistical support.


(Additional reporting by Richard Valdmanis in Sevare, Mali, Bate Felix and David Lewis in Dakar, Maria Golovina in London, Alexandria Sage, Vicky Buffery and Emmanuel Jarry in Paris, Tiemoko Diallo in Bamako, Abdoulaye Massalatchi in Niamey, Richard Lough and Aaron Masho in Addis Ababa; Writing by Pascal Fletcher; Editing by Andrew Heavens)



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What the ‘Bqhatevwr’ Did Scott Brown Tweet?






What do politicians do after losing their re-election bids? Take to Twitter, of course. Former Sen. Scott Brown of Massachusetts has been doing just that.


Brown has been tweeting about his everyday life post-politics, posting blurbs about house chores, football, and his family, but Brown’s tweets are somewhat less refined than those tweeted by his skilled staffers when he was serving in Congress.






On his verified Twitter account on Friday morning, the former senator tweeted about seeing his daughter, Ayla perform at Pejamajo Café in Holliston.


“Yes. Get ready.” The tweet read, but without the finesse of Brown’s tweeting staff, one of his followers misunderstood the message.


“Oh we are. You have no idea how ready #MaPoli is to vote to keep you in the private sector & out of #MASen” @MattinSomerville tweeted back.


Brown responded with a series of three tweets delivered after midnight.


“Your brilliant Matt,” he first tweeted.


“Whatever,” followed.


And finally Brown tweeted, “Bqhatevwr.”


Though he deleted his tweets, “Bqhatevwr” trended on Twitter nearly as quickly as #eastwooding.


The trending typo drew both bipartisan support and mockery. Some taunted the former senator for his late night slip-up, creating Internet memes and “Bqhatevwr” quips, while others defended Brown, saying that he is just an average Joe who committed a typical Twitter faux pas.


But what most Twitter enthusiast failed to recognize what that Brown’s first “Your brilliant” tweet was grammatically incorrect, too.


Also Read
Social Media News Headlines – Yahoo! News





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S&P 500 eases, ends longest winning run in eight years

NEW YORK (Reuters) - The S&P 500 eased slightly on Monday after an eight-day run of gains, while the Nasdaq edged higher as Apple shares rebounded.


The index remained above 1,500, however, after closing above that level on Friday for the first time in more than five years. The S&P 500's eight sessions of gains was its longest winning streak in eight years.


Caterpillar shares helped limit losses on the Dow industrials even as the company posted a 55 percent drop in quarterly profit due to a charge connected with accounting fraud at a Chinese subsidiary and weak demand among its dealers. Caterpillar's shares, down 2.2 percent in the past three sessions, rose 2 percent Monday to $97.45.


"I think this multi-year high is really something that's in play both for shorter-term traders and with folks with money on the sidelines," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


Bargain hunters lifted Apple after the tech giant's stock dropped 14.4 percent in the previous two sessions. With Apple's stock up 2.3 percent at $449.83, the iPad and iPhone maker regained the title as the largest U.S. company by market capitalization as Exxon Mobil fell 0.7 percent to $91.11 and slipped back to second place.


On the down side, Boeing fell 1.4 percent to $74 on worries about the potential hit from delays in its 787 Dreamliner program.


The Dow Jones industrial average <.dji> was down 14.05 points, or 0.10 percent, at 13,881.93. The Standard & Poor's 500 Index <.spx> was down 2.78 points, or 0.18 percent, at 1,500.18. The Nasdaq Composite Index <.ixic> was up 4.59 points, or 0.15 percent, at 3,154.30.


Investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record, research provider TrimTabs Investment Research said.


"What we have seen this year is, it appears the individual investor is allocating some 401(k) money to equities. Hopefully that's a decision that will be with us for a while," Hellwig said.


Data on Monday pointed to growing economic momentum as companies sensed improved consumer demand.


U.S. durable goods orders jumped 4.6 percent in December, a pace that far outstripped expectations for a rise of 1.8 percent. Pending home sales, however, unexpectedly dropped 4.3 percent. Analysts were looking for an increase of 0.3 percent.


Corporate earnings so far have mostly been stronger than expected. Thomson Reuters data showed that of the 150 companies in the S&P 500 that have reported earnings so far, 67.3 percent have beaten analysts' expectations, which is a higher proportion than over the past four quarters and above the average since 1994.


After the bell, shares of Yahoo rose 4.4 percent to $21.21 following the release of its results.


During the regular session, Hess Corp shares shot up 6.1 percent to $62.48 after the company said it would exit its refining business, freeing up to $1 billion of capital. Separately, hedge fund Elliott Associates is looking for approval to buy about $800 million more in Hess stock.


Stocks have also gained support from a recent agreement in Washington to extend the government's borrowing power. On Monday, Fitch Ratings said that agreement removed the near-term risk to the country's 'AAA' rating.


Volume was roughly 6.1 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Decliners outpaced advancers on the NYSE by nearly 4 to 3, while advancers beat decliners on the Nasdaq by about 7 to 5.


(Additional reporting by Rodrigo Campos; Editing by Jan Paschal and Nick Zieminski)



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Nightclub fire kills 233 in Brazil


SANTA MARIA, Brazil (Reuters) - A nightclub fire killed at least 233 people in southern Brazil on Sunday when a band's pyrotechnics show set the building ablaze and fleeing partygoers stampeded toward blocked exits in the ensuing panic.


Most of those who died were suffocated by toxic fumes that rapidly filled the crowded club after sparks from pyrotechnics used by the band for visual effects set fire to soundproofing on the ceiling, local fire officials said.


"Smoke filled the place instantly, the heat became unbearable," survivor Murilo Tiescher, a medical student, told GloboNews TV. "People could not find the only exit. They went to the toilet thinking it was the exit and many died there."


Firemen said one exit was locked and that club bouncers, who at first thought those fleeing were trying to skip out on bar tabs, initially blocked patrons from leaving. The security staff relented only when they saw flames engulfing the ceiling.


The tragedy in the university town of Santa Maria in one of Brazil's most prosperous states comes as the country scrambles to improve safety, security and logistical shortfalls before the 2014 World Cup soccer tournament and the 2016 Olympics, both intended to showcase the economic advances and first-world ambitions of Latin America's largest nation.


In Santa Maria, a city of more than 275,000 people, rescue workers and weary officials wept alongside family and friends of the victims at a gymnasium being used as a makeshift morgue.


"It's the saddest, saddest day of my life," said Neusa Soares, the mother of one of those killed, 22-year-old Viviane Tolio Soares. "I never thought I would have to live to see my girl go away."


President Dilma Rousseff cut short an official visit to Chile and flew to Santa Maria, where she wept as she spoke to relatives of the victims, most of whom were university students.


"All I can say at the moment is that my feelings are of deep sorrow," said Rousseff, who began her political career in Rio Grande do Sul, the state where the fire occurred.


It was the deadliest nightclub fire since 309 people died in a discotheque blaze in China in 2000 and Brazil's worst fire at an entertainment venue since a disgruntled employee set fire to a circus in 1961, killing well over 300 people.


'BARRIER OF THE DEAD'


Local authorities said 120 men and 113 women died in the fire, and 92 people are still being treated in hospitals.


News of the fire broke on Sunday morning, when local news broadcast images of shocked people outside the nightclub called Boate Kiss. Gradually, grisly details emerged.


"We ran into a barrier of the dead at the exit," Colonel Guido Pedroso de Melo, commander of the fire brigade in Rio Grande do Sul, said of the scene that firefighters found on arrival. "We had to clear a path to get to the rest of those that were inside."


Pedroso de Melo said the popular nightclub was overcrowded with 1,500 people packed inside and they could not exit fast.


"Security guards blocked their exit and did not allow them to leave quickly. That caused panic," he said.


The fire chief said the club was authorized to be open, though its permit was in the process of being renewed. But he pointed to several egregious safety violations - from the flare that went off during the show to the locked door that kept people from getting out.


"The problem was the use of pyrotechnics, which is not permitted," Pedroso de Melo said.


The club's management said in a statement that its staff was trained and prepared to deal with any emergency. It said it would help authorities with their investigation.


One of the club's owners has surrendered to police for questioning, GloboNews TV reported.


When the fire began at about 2:30 a.m., many revelers were unable to find their way out in the chaos.


"It all happened so fast," survivor Taynne Vendrusculo told GloboNews TV. "Both the panic and the fire spread rapidly, in seconds."


Once security guards realized the building was on fire, they tried in vain to control the blaze with a fire extinguisher, according to a televised interview with one of the guards, Rodrigo Moura. He said patrons were trampled as they rushed for the doors, describing it as "a horror film."


Band member Rodrigo Martins said the fire started after the fourth or fifth song and the extinguisher did not work.


"It could have been a short circuit, there were many cables there," Martins told Porto Alegre's Radio Gaucha station. He said there was only one door and it was locked. A band member died in the fire.


CELL PHONES STILL RINGING


TV footage showed people sobbing outside the club before dawn, while shirtless firefighters used sledge hammers and axes to knock down an exterior wall to open up an exit.


Rescue officials moved the bodies to the local gym and separated them by gender. Male victims were easier to identify because most had identification on them, unlike the women, whose purses were left scattered in the devastated nightclub.


Piles of shoes remained in the burnt-out club, along with tufts of hair pulled out by people fleeing desperately. Firemen who removed bodies said victims' cell phones were still ringing.


The disaster recalls other incidents including a 2003 fire at a nightclub in West Warwick, Rhode Island, that killed 100 people, and a Buenos Aires nightclub blaze in 2004 that killed nearly 200. In both incidents, a band or members of the audience ignited fires that set the establishment ablaze.


The Rhode Island fire shocked local and federal officials because of the rarity of such incidents in the United States, where enforcement of safety codes is considered relatively strict. After the Buenos Aires blaze, Argentine officials closed many nightclubs and other venues and ultimately forced the city's mayor from office because of poor oversight of municipal codes.


The fire early on Sunday occurred in one of the wealthiest, most industrious and culturally distinct regions of Brazil. Santa Maria is about 186 miles west of Porto Alegre, the capital of a state settled by Germans and other immigrants from northern Europe.


Local clichés paint the region as stricter and more organized than the rest of Brazil, where most residents are a mix descended from native tribes, Portuguese colonists, African slaves, and later influxes of immigrants from southern Europe.


Rio Grande do Sul state's health secretary, Ciro Simoni, said emergency medical supplies from all over the state were being sent to the scene. States from all over Brazil offered support, and messages of sympathy poured in from foreign leaders.


(Additional reporting by Guillermo Parra-Bernal, Gustavo Bonato, Jeferson Ribeiro, Eduardo Simões, Brian Winter and Guido Nejamkis.; Writing by Paulo Prada and Anthony Boadle; Editing by Todd Benson, Kieran Murray and Christopher Wilson)



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As world of gadgets grows, online industry tunes in to video ads






SAN FRANCISCO (Reuters) – Internet video ads, long a sideshow in the online advertising market, are gaining in importance to marketers and Web publishers as they look to capitalize on consumers’ changing viewing habits and tap a $ 70 billion television market.


The ever-expanding array of gadgets that display online video, from tablets to Internet-connected TVs and DVD players, along with technology such as social media that facilitates distribution, has spurred new interest.






The growing trend means websites like Google Inc’s YouTube, Yahoo , AOL and Hulu have a better shot at tapping the mother lode of television advertising budgets, though video ads have a long way to go before they become as dominant a part of the marketing landscape as TV ads.


Research firm eMarketer says video is the fastest growing form of online advertising, with spending increasing 46 percent last year, and outpacing popular formats such as search ads and display ads.


Google does not break out financial results for its YouTube business, but CEO Larry Page said on Tuesday that spending among YouTube’s top 100 advertisers increased by more than 50 percent in 2012 compared with the year before.


There have been media reports that Facebook is developing a video ad service, and analysts will likely be looking for answers on that avenue when the social networking giant delivers its quarterly results on Wednesday.


At Yahoo, “one of our highest priorities was to create more online video experiences, because that’s where the demand is for advertising,” said Tim Morse, the former Yahoo finance chief who became CFO of video advertising technology company Adap.TV this month.


Advertisers are increasingly fond of video ads, Morse said, because of the similarities to TV.


“It’s the closest to what they’ve had offline. They’re looking for the same kind of medium where they can connect with consumers,” he told Reuters.


TURNING POINT


Chevrolet has been running online video ads for several years, but significantly ramped up its activities and investment in 2012, said Carolin Probst-Iyer, the manager of digital consumer engagement for the General Motors division.


“Last year was a bit of a turning point,” she said, as Chevrolet put greater emphasis on creating original video ads and looking for new ways to distribute spots, rather than simply running existing TV ads on YouTube and TV network websites.


One recent ad for the buzz-worthy new Corvette Stingray was viewed more times on mobile devices than it was on PCs, she said.


For Web publishers, video ads are good business. While typical banner ad rates can generate a few dollars per thousand views, video ad rates can reach $ 20 per thousand views, said eMarketer’s David Hallerman.


“All of the Internet advertising to date has come from print sources,” such as newspapers, magazines and yellow pages, said RBC Capital Markets analyst Mark Mahaney.


“We’re are at a point where television ad budgets are likely to come online.”


The explosion of new screens such as smartphones and tablets greatly increases the venues where consumers can watch video, whether they’re at their desks or on a bus. And social networking, which makes it easy for users to share favorite videos, has given marketers added incentive to produce video ads that can gain additional exposure by tapping into the social slipstream.


YouTube’s head of industry development, Suzie Reider, said marketers are increasingly developing ads that are tailored for specific audiences, making it more likely that Web surfers will actually watch them.


“We’re living in a day and age where nobody has to watch an ad that they don’t want to watch,” said Reider. “You can skip them on the Web, you can skip them on TV.”


To make its website more appealing to advertisers, YouTube has helped create hundreds of “premium channels” featuring professionally produced video as opposed to the amateur clips YouTube is famous for. And it’s developed a type of video ad that users can skip after five seconds – advertisers only pay if the ad is watched all the way through.


PRICE DEFLATION?


Despite the growth in Web video ad spending, which eMarketer estimates reached $ 2.93 billion in the United States last year, the firm said the spending still represents only about 10 percent of the broader online advertising market.


And that is a mere drop in the bucket compared with the $ 68 billion that Kantar Media estimates was spent on television advertising in 2011.


One potential constraint is the way big brands and agencies organize their marketing budgets, says Pivotal Research Group analyst Brian Wieser. Online video ads are typically funded from Web ad budgets rather than a much larger pool set aside for TV.


Analysts also note that the rich rates websites collect for video ads will decrease as more Internet sites open to ads – something that’s already happening thanks to technology that automatically pairs ads with videos on websites.


Still, many analysts and industry executives are optimistic about what they see as the bigger picture.


“The number of people watching TV seems to be stagnating or declining, and the number of people turning to the Internet for entertainment is surging,” said RBC’s Mahaney. “It almost inevitably drives these TV budgets online”


(Reporting By Alexei Oreskovic; additional reporting by Gerry Shih; Editing by Leslie Adler)


Gadgets News Headlines – Yahoo! News





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Ailing Jennifer Lawrence Steps Out at Screen Actors Guild Awards









01/27/2013 at 07:30 PM EST



Despite being in ailing health, Jennifer Lawrence looked stunning on the red carpet at the Screen Actors Guild Awards on Sunday.

The Silver Linings Playbook star – who's nominated for her role as troubled girl-next-door Tiffany – is currently very sick, a source tells PEOPLE.

But that didn't stop the 22-year-old actress from stopping to chat with E! News.

"I'm fine, I'm fine," Lawrence told Giuliana Rancic. "I'm so worried everyone's like scared of me like, 'Are you still sick?' No, I'm fine."

Showing off her Dior gown and Chopard jewels, Lawrence continued to joke with Rancic, saying,"I have walking pnuemonia and it's highly contagious!"

When she was unable to attend Saturday's Australian Academy of Cinema and Television Arts International Awards in Los Angeles, her costar Jackie Weaver accepted her award on her behalf.

"I'm going to receive this on her behalf," Weaver told the audience according to E! News. "Poor Jen is really sick. She really is sick. She has pneumonia."

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CDC: Flu seems to level off except in the West


New government figures show that flu cases seem to be leveling off nationwide. Flu activity is declining in most regions although still rising in the West.


The Centers for Disease Control and Prevention says hospitalizations and deaths spiked again last week, especially among the elderly. The CDC says quick treatment with antiviral medicines is important, in particular for the very young or old. The season's first flu case resistant to treatment with Tamiflu was reported Friday.


Eight more children have died from the flu, bringing this season's total pediatric deaths to 37. About 100 children die in an average flu season.


There is still vaccine available although it may be hard to find. The CDC has a website that can help.


___


CDC: http://www.cdc.gov/flu/


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Fed waits for job market to perk up


LONDON (Reuters) - The Federal Reserve's ultra-loose monetary policy is a root cause of the "currency wars" that some see as a looming threat to the world economy, but don't expect the U.S. central bank to signal a shift back to normal any time soon.


The Fed, whose policy-setting Federal Open Market Committee concludes a two-day meeting on Wednesday, said just last month that it expects to keep short-term interest rates exceptionally low until the U.S. unemployment rate falls to 6.5 percent, inflation permitting.


That goal is still distant. Figures on Friday are likely to show that the jobless rate was unchanged in January at 7.8 percent, while the economy created 155,000 jobs, the same as in December, according to economists polled by Reuters.


So it would be a huge surprise if the Fed were to do anything other than reaffirm last month's decision to anchor short-term interest rates in a range of zero to 0.25 percent and to keep buying $85 billion of bonds each month to hold down long-term rates.


The only question mark is whether the FOMC vote will be unanimous now that Richmond Fed President Jeffrey Lacker, who opposes the current round of bond-buying, has rotated off the panel, said Harm Bandholz, an economist with UniCredit Bank in New York.


Most economists polled by Reuters expect the Fed to keep its open-ended bond-buying program in place well into next year, even though the economic news flow and market confidence are improving markedly.


True, Wednesday's preliminary report on fourth-quarter GDP is likely to show that growth slowed to an annualized rate of 1.2 percent from 3.1 percent in the July-September period.


And the current quarter will also be soft as the expiry of a 2 percent payroll tax cut is dampening consumer spending.


But then Bandholz expects an average growth rate of 2.8 percent over the rest of the year. That would be the strongest three-quarter period of the recovery so far, he said.


"The outlook has improved a lot in the U.S. I've been on the cautious side for the last three years, but this time I'm a bit more bullish," he said.


THE FED BIDES ITS TIME


The recovery in housing would add at least half a percentage point to GDP growth in 2013, while capital spending was likely to revive now that uncertainty over budget talks in Washington had been largely allayed, Bandholz said.


"There's a lot of pent-up demand in the system. I don't think all these investments have been abandoned; they've just been postponed," he said.


At some point, investors' exuberance over the super-easy stance of the world's major central banks will give way to worries that they are about to take away the punch bowl.


Gustavo Reis, an economist with Bank of America Merrill Lynch in New York, said concerns about the costs of money-printing were likely to spread but would be offset by uncertainty over the impact on growth of fiscal tightening in the United States and Europe.


"All told, although global activity seems more robust now than at any point in 2012, we expect policymakers to continue to worry predominantly about downside risks," he said in a note.


The bank does not expect the Fed to consider halting asset purchases before 2014, while the latest episode of monetary easing announced by the Bank of Japan is likely to be ‘long-lived and significant'.


Many economists argue that bold monetary action is long overdue in Japan, whose nominal output has not grown in 20 years, saddling the government with a debt-to-GDP ratio of more than 220 percent.


But Douglas McWilliams, who heads the Centre for Economics and Business Research, a London consultancy, fears Japan's decision will lead the global economy into unpredictable currency wars.


"It's a bit like if someone's rude to you, you're rude to them back. You get tit-for-tat behavior," McWilliams said.


CURRENCY FRICTION, BUT NO WAR


Olivier Blanchard, the chief economist of the International Monetary Fund, last week called talk of currency wars overblown and said countries had to pull the right policy levers to get their economies back on track, with corresponding consequences for exchange rates.


However, McWilliams said the problem was that it was difficult to get countries to agree NOT to wage currency wars.


Tellingly, Chancellor Angela Merkel voiced German concerns last week that Japan might be deliberately seeking to cheapen the yen to give its exporters a competitive edge.


"So we may well find that there is a period of very heavy volatility before the authorities involved try and get some kind of agreement," McWilliams said.


In a relatively quiet week for economic data in the euro zone - money supply figures and confidence surveys from the European Commission are the highlights - the focus is likely to remain squarely on the euro, which has been rising briskly as traders price in the policy shifts that Blanchard had in mind.


While the Fed and the Bank of Japan are expanding their balance sheets, the European Central Bank is starting to soak up some of the emergency cash it lent to banks a year ago.


The central bank said on Friday that banks would repay early 137 billion euros of cheap borrowed money.


"I'm not sure if we have too strong a euro for the moment but certainly we would not want to see a currency war of competitive devaluations which would have a negative effect on the euro," the European Union's top monetary official, Olli Rehn, told Reuters.


(Additional reporting by Paul Taylor in Davos; editing by Jason Neely)



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Riots over Egyptian death sentences kill at least 32


PORT SAID, Egypt/CAIRO (Reuters) - At least 32 people were killed on Saturday when Egyptians rampaged in protest at the sentencing of 21 people to death over a soccer stadium disaster, violence that compounds a political crisis facing Islamist President Mohamed Mursi.


Armored vehicles and military police fanned through the streets of Port Said, where gunshots rang out and protesters burned tires in anger that people from their city had been blamed for the deaths of 74 people at a match last year.


The rioting in Port Said, one of the most deadly spasms of violence since Hosni Mubarak's ouster two years ago, followed a day of anti-Mursi demonstrations on Friday, when nine people were killed. The toll over the past two days stands at 41.


The flare-ups make it even tougher for Mursi, who drew fire last year for expanding his powers and pushing through an Islamist-tinged constitution, to fix the creaking economy and cool tempers enough to ensure a smooth parliamentary election.


That vote is expected in the next few months and is meant to cement a democratic transition that has been blighted from the outset by political rows and street clashes.


The National Defense Council, which is led by Mursi and includes the defense minister who commands the army, called for "a broad national dialogue that would be attended by independent national characters" to discuss political differences and ensure a "fair and transparent" parliamentary poll.


The National Salvation Front of liberal-minded groups and other Mursi opponents cautiously welcomed the call.


THREATS OF VIOLENCE


Clashes in Port Said erupted after a judge sentenced 21 men to die for involvement in the deaths at the soccer match on February 1, 2012. Many were fans of the visiting team, Cairo's Al Ahly.


Al Ahly fans had threatened violence if the court had not meted out the death penalty. They cheered outside their Cairo club when the verdict was announced. But in Port Said, residents were furious that people from their city were held responsible.


Protesters ran wildly through the streets of the Mediterranean port, lighting tires in the street and storming two police stations, witnesses said. Gunshots were reported near the prison where most of the defendants were being held.


A security source in Port Said said 32 people were killed there, many dying from gunshot wounds. He said 312 were wounded and the ministry of defense had allocated a military plane to transfer the injured to military hospitals.


Inside the court in Cairo, families of victims danced, applauded and some broke down in tears of joy when they heard Judge Sobhy Abdel Maguid declare that the 21 men would be "referred to the Mufti", a phrase used to denote execution, as all death sentences must be reviewed by Egypt's top religious authority.


There were 73 defendants on trial. Those not sentenced on Saturday would face a verdict on March 9, the judge said.


At the Port Said soccer stadium a year ago, many spectators were crushed and witnesses saw some thrown off balconies after the match between Al Ahly and local team al-Masri. Al Ahly fans accused the police of being complicit in the deaths.


Among those killed on Saturday were a former player for al-Masri and a soccer player in another Port Said team, the website of the state broadcaster reported.


TEARGAS FIRED


On Friday, protesters angry at Mursi's rule had taken to the streets for the second anniversary of the uprising that erupted on January 25, 2011 and brought Mubarak down 18 days later.


Police fired teargas and protesters hurled stones and petrol bombs. Nine people were killed, mainly in the port city of Suez, and hundreds more were injured across the nation.


Reflecting international concern at the two days of clashes, British Foreign Office Minister for the Middle East Alistair Burt said: "This cannot help the process of dialogue which we encourage as vital for Egypt today, and we must condemn the violence in the strongest terms."


European Union foreign policy chief Catherine Ashton urged the Egyptian authorities to restore calm and order and called on all sides to show restraint, her spokesperson said.


On Saturday, some protesters again clashed and scuffled with police in Cairo, Alexandria and other cities. In the capital, youths pelted police lines with rocks near Tahrir Square.


In Suez, police fired teargas when protesters angry at Friday's deaths hurled petrol bombs and stormed a police post and other governmental buildings including the agriculture and social solidarity units.


Around 18 prisoners in Suez police stations managed to escape during the violence, a security source there said, and some 30 police weapons were stolen.


"We want to change the president and the government. We are tired of this regime. Nothing has changed," said Mahmoud Suleiman, 22, in Cairo's Tahrir Square, the cauldron of the 2011 anti-Mubarak revolt.


Mursi's opponents say he has failed to deliver on economic pledges or to be a president representing the full political and communal diversity of Egyptians, as he promised.


"Egypt will not regain its balance except by a political solution that is transparent and credible, by a government of national salvation to restore order and heal the economy and with a constitution for all Egyptians," prominent opposition politician Mohamed ElBaradei wrote on Twitter.


The opposition National Salvation Front, responding to the Defense Council's call for dialogue, said there must be a clear agenda and guarantees that any deal would be implemented, spokesman Khaled Dawoud told Reuters.


The Front earlier on Saturday threatened an election boycott and to call for more protests on Friday if demands were not met. Its demands included picking a national unity government to restore order and holding an early presidential poll.


Mursi's supporters say the opposition does not respect the democracy that has given Egypt its first freely elected leader.


The Muslim Brotherhood, which propelled Mursi to office, said in a statement that "corrupt people" and media who were biased against the president had stirred up fury on the streets.


The frequent violence and political schism between Islamists and secular Egyptians have hurt Mursi's efforts to revive an economy in crisis as investors and tourists have stayed away, taking a heavy toll on Egypt's currency.


(Additional reporting by Omar Fahmy, Peter Griffiths in London and Claire Davenport in Brussels; Writing by Edmund Blair; Editing by Mark Trevelyan)



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How to Share Vine Videos on Tumblr






When Twitter launched Vine Thursday it omitted one important social network from its sharing options: Tumblr. Looped GIF images are extremely popular on Tumblr, so the audience there for Vine videos is potentially huge.


Just because there’s no native way to share Vines on Tumblr, doesn’t mean you can’t share your creations on the site. Here are few different ways you can include Vine videos in your Tumblr posts:






[More from Mashable: Facebook Explains Why Vine Can’t Access Your Friends]


Upload Directly To Tumblr


If you want to share your Vine on Tumblr, one of the easiest ways is to just upload it directly to your Tumblr from your iOS device using Tumblr’s app.


Every Vine you create is automatically saved to the camera roll on your device. To upload to Tumblr:


[More from Mashable: John Tesh Thanks 500 Helpful Tweeters With $ 5 Gift Cards]


  • Launch the Tumblr app on your phone

  • Create a new post

  • Select video from the options

  • Choose existing video

  • Select the Vine you’d like to upload from the video clips stored on your phone

Vine videos shared this way will just play through once rather than loop. To get that looped effect, you can import the video clip into your favorite mobile video editor (Splice is a good example, but there are many others) and copy it several times, laying the copies down on the timeline, one after another. Once you’ve reached your desired length, export the video and upload it just as you would a traditional video through Tumblr.


If you don’t have a video editor on your phone, you can email the clip to yourself from your phone’s Photo Library and edit it on your computer instead.


Embed a Tweet


Embedding a tweet on Tumblr is the easiest way to share the looped version of your Vine. To embed a tweet:


  • Share your Vine on Twitter

  • Go to Twitter.com

  • Click on the More button on the tweet associated with your Vine

  • Select Embed Tweet

  • Copy the code generated by Twitter and add it to a post on Tumblr

If you don’t want to share all your Vines through your own Twitter stream but want the ability to embed them, consider creating a Twitter account just for your Vines. Once you tweet them, you’ll be able to copy/paste tweets or links to your Vine from your special account to your main account fairly easily, and you won’t pollute your traditional Twitter stream.


Upload To Your Favorite Video Service


iOS devices offer the ability to upload video clips directly from your Photo Library to YouTube.


Vine video files are saved as MOV’s so you can upload the file to almost any video service and then embed that player into your Tumblr blog.


The file can also be downloaded onto your computer and uploaded to Tumblr (or other sites) any way you’d like.


Have you tried sharing Vine videos on Tumblr, or another site? Let us know your own tips and tricks for sharing the video clips in the comments.


Click here to view the gallery: How To Use Vine


Photo by Emily Price, Mashable


This story originally published on Mashable here.


Tech News Headlines – Yahoo! News





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