Rare Party Conference in N. Korea Raises Succession Questions
A big meeting of North Korea’s only political party could herald the beginning of the succession to a third generation of the Kim family in the reclusive Communist state.
Tokyo-Beijing Forum held to boost ties, strengthen feelings
TOKYO, Aug. 30 (Xinhua) — The 6th annual Tokyo-Beijing Forum, under the theme of “Asia’s future: Japan, China’s contribution”, was held Monday in Tokyo to promote understanding and strengthen ties between the two nations.
Present at the forum include Wang Chen, director of China’s State Council Information Office, Li Zhaoxing, Chairman of the Foreign Affairs Committee of China’s National People’s Congress and Japan’s Chief Cabinet Secretary Yoshito Sengoku and former Prime Minister Yasuo Fukuoda.
South Africa’s Zuma’s push leads to strike talks
JOHANNESBURG, Aug 30 (Reuters) – The South African government and unions representing 1.3 million striking state workers plan talks on Monday night following President Jacob Zuma’s order to ministers to negotiate immediately to end the walkout.
Union officials hoped the negotiations will lead to an improved offer to end the labour dispute that has closed schools, prevented treatment at hospitals and harmed investor sentiment towards Africa’s largest economy.
Oil spill work on hold as Bonnie approaches
With a tropical storm approaching, hundreds of workers and more than a dozen vessels will begin moving from the Deepwater Horizon blowout site Friday, stopping work on the long-awaited final “kill” of the well for more than a week.
UN Command confronts North Korea over ship sinking
The U.S.-led military command monitoring the cease-fire on the Korean peninsula confronted North Korea on Friday about the deadly sinking of a South Korean warship, calling it a violation of the 1953 armistice.
Colonels from the U.N. Command, who met at the border with counterparts from Pyongyang’s Korean People’s Army, reminded North Korea of the U.N. Security Council order to honor the truce. Officers also proposed a joint task force to discuss the “armistice violations,” the military commission said in a statement.
Ford turnaround picks up speed
Ford Motor continued its successful turnaround as better-than-expected sales and profits easily outdistanced expectations and reversed the operating loss of a year ago.
The automaker earned $2.7 billion, or 68 cents a share, excluding special items. The consensus forecast of analysts surveyed by Thomson Reuters was for earnings of 40 cents a share, and Ford easily topped even the most bullish forecast of a 48 cent a share profit.
UN expert: AIDS crisis in the world’s prisons
The U.N.’s top investigator on torture and punishment warned Friday that overcrowded prisons are breeding grounds for AIDS.
Often, inmates are held in inhumane conditions in which the HIV virus is spread through the use of non-sterile drug injection equipment, sexual contacts, tattooing and sharing of razors, Manfred Nowak said.
“There is a global prison crisis,” he told an international AIDS conference.
In today’s news updates we provide links to the current situation in Haiti, an update on arms in North Korea and Toyota’s plans for the hybrid cars by 2011.
Look here for news updates on the aftermath of a 7.0 earthquake that struck Haiti. All times are Haiti local time, which is the same as Eastern Standard Time in the U.S. and five hours behind GMT.
North Korea’s Kim calls for stronger army amid tension
SEOUL, South Korea — North Korean leader Kim Jong Il said his country must bolster its armed forces, state media reported Sunday, two days after his regime warned it would launch a war against South Korea if necessary.
Kim’s all-powerful National Defense Commission had threatened Friday to initiate a sacred “retaliatory battle” against the South in anger over its reported contingency plan to cope with potential unrest in the communist country. The commission also warned it could break off all dialogue and negotiations with the South.
Toyota shooting for one million hybrids by 2011
Toyota wants to be producing 1 million hybrid cars worldwide a year by 2011, reports Reuters, quoting Nikkei business in Tokyo. That would likely be double the number of hybrids it built last year.
Among the 10 new hybrid models planned in the next few years, Toyota showed off one hybrid concept for the U.S. at last week’s North American International Auto Show in Detroit. It’s the FT-CH concept, which would be smaller, cheaper car more along the lines of the Corolla. In addition, Toyota’s brass disclosed that they plan to turn Prius into a family of cars.
N.Korea fires missiles, declares ‘no sail’ zone
SEOUL, Oct 12 (Reuters) – North Korea has fired five short-range missiles off its east coast and declared a ‘no sail’ zone in the area from Oct. 10-20, South Korea’s Yonhap news agency quoted a government source as saying on Monday.
South Korean government officials were not immediately available for comment.
Americans are celebrating Columbus Day Monday.
Columbus Day is a federal holiday observed on the second Monday in October, marking the anniversary of arrival of Christopher Columbus to the Americas.
Lobbyists Out in Full Force as Senate Prepares to Vote on Health Care Bill Tuesday
As the Senate Finance Committee prepares to vote Tuesday on its version of health care legislation, White House officials say they have momentum as the narrative shifts from whether a bill will pass to what it will contain.
But, even as conservative commentators admit that health care overhaul will happen, lobbyists are leading a final push to sidetrack the legislation.
A new report by health industry lobbyists at America’s Health Insurance Plans, prepared by consulting firm PricewaterhouseCoopers, concludes that health coverage costs for families would increase by 111 percent in the next 10 years under provisions proposed by the Senate Finance Committee. That means costs would jump, on average, to $25,900 for families by 2019, and to $9,700 for individuals.
US Stocks Slightly Higher As Busy Earnings Week Begins
U.S. stocks were trading slightly higher Monday after last week’s strong gains and as a busy week of earnings gets underway.
The Dow Jones Industrial Average was higher by about 3 points. The Dow gained 4% last week, snapping a string of two straight weekly declines, ending trading on Friday at its highest level since Oct. 6, 2008. The S&P 500 rose 0.3% to 1075.06. The Nasdaq also rose 0.3% to 2147.81.
The dollar, which has been on a long-term slide, was slightly stronger against the euro and the yen. The Dollar Index, which tracks the dollar against a basket of major currencies, is down 5.9% year-to-date.
Stephen Pope, chief global market strategist at Cantor Fitzgerald Europe, said a weaker dollar is “allowing non-dollar based investors to acquire U.S. assets and ‘cheap valuations’ when reflected back into their base currency. The S&P 500 is on a price/earnings basis trading at a discount to the MSCI World Index of 23 developing countries.”
Economy
U.S. Budget Gap Exceeds $1 Trillion for Fiscal Year (Update3)
The shortfall for the fiscal year that began Oct. 1 totaled $1.1 trillion, the first time that the gap for the period surpassed $1 trillion, Treasury figures showed today in Washington. The excess of spending over revenue for June was $94.3 billion, the first deficit for that month since 1991, according to data compiled by Bloomberg.
Health
Dr. Regina Benjamin is surgeon general choice
WASHINGTON (CNN) — President Obama announced Monday his choice for surgeon general — Dr. Regina Benjamin, a 52-year-old family practice doctor who has spent most of her career tending to the needs of poor patients in a Gulf Coast clinic in Alabama.
Technology
2nd UPDATE: Microsoft To Offer Office Software On Web
SAN FRANCISCO (Dow Jones)–Microsoft Corp. (MSFT) said Monday it would offer a free, Web-based version of its Office tools, the company’s most significant acknowledgment that it needs to alter a decades-old model of selling boxed software as it battles competitors like Google Inc. (GOOG).
World News
China Agrees to Sanction of North Korea Officials (Update2)
July 13 (Bloomberg) — China has agreed for the first time to punish senior North Korean government officials for the nation’s defiance of United Nations resolutions barring nuclear and missile tests, China’s deputy ambassador said.
