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Friday, 14 October 2011
FINANCIAL TIMES - World business, finance and political news, Oct 14, 2011
CNBC News - Consumer Sentiment Falls, Expectations at 30-Year Low, Oct 14, 2011
U.S. consumer sentiment unexpectedly slumped in early October as worries about declining incomes drove consumer expectations back down to the lowest level in more than 30 years, a survey released Friday showed.
Consumers' outlook also deteriorated with the gauge of consumer expectations falling to its lowest level since May 1980 at 47.0 from 49.4. The index had fallen to this level in early September before being revised up at the end of the month.
The component has shed more than 20 points since the beginning of the year.
"Overall, the data indicate that a recessionary downturn is likely to occur," survey director Richard Curtin said in a statement.
"Even if the economy manages to avoid the formal recession designation by (The National Bureau of Economic Research), real consumer expenditures will not be strong enough to enable the more robust job growth that is needed to offset the negative grip of economic stagnation on consumer behavior."
Thirty-nine percent of consumers cited income declines as the reason why their finances have recently worsened, while 65 percent of all households expected no income increase during the year ahead. Both levels were the highest ever recorded by the survey.
The survey's barometer of current economic conditions dipped to 73.8 from 74.9.
Improvement in inflation expectations was a silver lining, with the one-year inflation expectation easing to 3.2 percent from 3.3 percent. The survey's five-to-10-year inflation outlook fell to 2.7 percent from 2.9 percent.
Correction: An earlier headline on this story mischaracterized the drop in consumer sentiment.
CBC World News - Gun battle reported in Tripoli,
A gun battle erupted Friday between hundreds of revolutionary forces and Moammar Gadhafi supporters in the capital for the first time in more than two months after a group tried to raise the green flag that symbolizes the ousted leader's regime.
The fighting began when a group of loyalists carrying the green flag appeared on the streets of Tripoli's Abu Salim neighbourhood, which houses the notorious prison of the same name.
Shouting "God is Great," anti-Gadhafi fighters converged on the area, which has long been a loyalist stronghold, in pickups mounted with weapons, setting up checkpoints as heavy gunfire echoed through the streets.
The violence in the capital, which has been relatively calm since then rebelsseized control in late August, underscored the difficulty Libya's new rulers face in restoring order as Gadhafi remains on the run. He has issued several audio recordings from hiding trying to rally supporters against the North African nation's transitional leadership.
Witnesses said the shooting began after a group of dozens of men and women tried to raise the green flag at the end of a street in the Hay Nasr district.
"I looked out of my window and I saw men and women in a group of 50 to 80 people, carrying the green flag," said Abadi Omar, a resident in one of the buildings in the area. "They put one of these flags at the end of our street. This is when the rebels came out and these people disappeared."
CBS - U.S.: Terrorists after missing Libyan missiles , Oct 14, 2011
Throughout Libya, the hunt is on for the missiles and rockets that Qaddafi's fleeing forces left behind.
BRUSSELS - Terrorist groups have expressed interest in obtaining some of the thousands of shoulder-launched missiles that have gone missing in Libya and the issue has become a priority for the Obama administration, a senior U.S.official said Friday.
Andrew J. Shapiro, Assistant Secretary of State for Political-Military Affairs, said Friday the missiles "could pose a threat to civil aviation."
"We know that terrorist groups have expressed interest in obtaining these weapons," he said, adding that the issue issue of securing the weapons was a priority for President Barack Obama and Secretary of State Hillary Clinton.
Libya was believed to have about 20,000 such missiles in its arsenals before civil war began in March, Shapiro said. Although many were destroyed by NATO air strikes, thousands are missing.
SFGate World News, Oct 14, 2011
Italy's Berlusconi wins confidence vote
Palestinians condemn Jerusalem housing plan
Symbol of Argentine repression claims persecution
Lisbon court places US fugitive under house arrest
UK defense minister quits after scandal
Key steps to conference on nuke-free Mideast
UK medical group rejects new skin cancer treatment
IMF official ducks eggs during protest in Turkey
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LA TIMES - Libya revolutionaries have Surt in stranglehold, Oct 14, 2011
Libyan revolutionaries fire on remnants of resistance in Moammar Kadafi's hometown of Surt.(Mohamed Messara / European Pressphoto Agency / October 13, 2011) |
Tanks manned by fighters allied with the transitional government fired relentlessly at pro-Kadafi forces pinned in a compact residential district of Surt close to the Mediterranean coast, sending dust and concrete into the air. Anti-Kadafi fighters with rifles moved into firing position, crunching over spent ammunition cartridges that littered the central garden plaza.
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- NYT: NATO says Gadhafi loyalist resilience surprising (msnbc.msn.com)
- You: Libya says mass grave may contain Abu Salim prisoners (latimes.com)
- Pictures in the News | Oct. 7, 2011 (framework.latimes.com)
- NATO Officer Says Qaddafi Loyalists' Resilience Surprising (nytimes.com)
- Civilians Flee the Struggle Over Surt, Libya (nytimes.com)
- You: Libyan fighters taking Kadafi's hometown street by street (latimes.com)
- INTERNATIONAL Business Times- Libya News: Gaddafi Leader of a New revolution?, Oct 14, 2011 (interalex.net)
THE GUARDIAN - Libya war reaches endgame with 100 loyalists left fighting, Oct 14, 2011
The two men are singing in the back of a pick-up truck, sitting on the rails, their legs resting on a blanket that seems oddly lumpy. Sticking out from beneath it are two pairs of feet, one bare, one wearing socks. They are the feet of two pro-Gaddafi fighters killed in the fighting in the coastal city of Sirte.
Thursday was a day of deaths on both sides. Government forces trying to enter the last pocket of Sirte held by pro-Gaddafi fighters were bogged down in a narrow street flooded with sewage and water.
Sirte is an unremarkable town, its importance inflated by the fact that the deposed Libyan leader was born nearby and counts its main tribe among his staunchest supporters.
But its fate is now being keenly watched around the world. The rebel government in Tripoli has declared – as UK foreign secretary William Hague told MPs in London – that its fall will mean the liberation of the entire country and trigger the start of a political process to build a new democracy.