New 3D Map of Civil War Shipwreck Released






On this day (Jan. 11) in 1863, a Union warship was sunk in a skirmish with a Confederate vessel in the Gulf of Mexico.


Exactly 150 years later, a new 3D map of the USS Hatteras has been released that shows what the remains of the warship look like. The Hatteras rests on the ocean floor about 20 miles (32 kilometers) off Galveston, Texas, according to a release from the National Oceanographic and Atmospheric Administration, which helped to sponsor the expedition to map the shipwreck.






The Hatteras was sunk in a battle with the Confederate raider CSS Alabama, and was the only Union warship sunk in combat in the Gulf of Mexico during the Civil War.


“Most shipwreck survey maps are two-dimensional and based on observations made by sight, photographs or by feeling around in murky water while stretching a measuring tape,” said James Delgado, with NOAA‘s Office of National Marine Sanctuaries, in the statement. “Thanks to the high-resolution sonar, we have a three-dimensional map that not only provides measurements and observations, but the ability for researchers and the public to virtually swim through the wreck’s exposed remains and even look below the surface at structure buried in loose silt.”


Recent storms have dislodged some of the sediment that covered the ship, 57 feet (17 meters) beneath the surface, so researchers took advantage of the opportunity to map the vessel with state-of-the-art sonar in the fall of 2012, according to the statement.


The map has revealed previously unknown features of the shipwreck, including a largely intact paddlewheel that once propelled the vessel forward. It also shows damage to the wheel’s steering column and the engine room.  


The Hatteras rests in federal waters, and is protected under the Sunken Military Craft Act as a war grave, according to the release.


The ship was part of a blockade to prevent goods from traveling to and from Galveston, which remained one of the last bastions of the Confederacy late into the Civil War, the NOAA noted.


Reach Douglas Main at [email protected]. Follow him on Twitter @Douglas_Main. Follow OurAmazingPlanet on Twitter @OAPlanet. We’re also on Facebook and Google+.


Copyright 2013 OurAmazingPlanet, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Science News Headlines – Yahoo! News





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Is China easing up on local media?




A protester calls for greater media freedom outside the headquarters of Nanfang Media Group in Guangzhou on Jan. 9.




STORY HIGHLIGHTS


  • Young: Handling of Southern Weekly row demonstrated tolerant side of new leadership

  • Traditional, newer media can serve as tools for achieving goals in China's modernization

  • The fight against corruption in China is at the top of the list for incoming leader, Xi Jinping

  • Young: Media has also emerged as an important tool for combating other social problems




Editor's note: Doug Young teaches financial journalism at Fudan University in Shanghai and is the author of The Party Line: How the Media Dictates Public Opinion in Modern China published by John Wiley & Sons. He also writes daily on his blog, Young's China Business Blog, commenting on the latest developments in China's fast-moving corporate scene.


Shanghai, China (CNN) -- China's traditional iron-handed approach to the media has taken a surprise turn of tolerance with Beijing's soft handling of a recent dispute with local reporters, in what could well become a more open attitude toward the media under the incoming administration of presumed new President Xi Jinping.


The new openness is being driven in large part by pragmatism, as the government realizes that both traditional and newer media can serve as powerful tools for achieving many of its goals in the country's modernization.


The recent conflict between reporters at the progressive Southern Weekly and local propaganda officials over a censorship incident left many guessing how the government would respond to the first clash of its kind in China for more than 20 years. The result was a surprisingly mild approach, including mediation by a high-level government official and a vague promise for less censorship in the future.


Read: Censorship protest a test for China


The unusually tolerant tack could well reflect a new attitude by Xi and other incoming leaders set to take control of China for the next decade, all of whom have come to realize the media can serve many important functions beyond its traditional role as a propaganda machine.


At the top of Xi's list is the fight against corruption, a problem he has mentioned frequently since taking the helm of the Communist Party last year. The party has tried to tackle the problem for years using its own internal investigations, but progress was slow until recently due to protection many officials received through their own sprawling networks of internal relationships, known locally as guanxi.










Read: Corruption as China's top priority


All that began to change in the last two years with the rapid rise of social media, most notably the Twitter-like microblogs known as Weibo that are now a pervasive part of the Chinese Internet landscape and count hundreds of millions of ordinary Chinese among their users. Those social media have become an important weapon for exposing corruption, allowing thousands of ordinary citizens to pool their resources and build cases against officials they suspect of using their influence for personal gain.


This increasingly sophisticated machine was on prominent display last year in a case involving Yang Dacai, a local official in northwestern Shaanxi province who infuriated the online community by smiling at the site of a horrific accident scene. Netizens quickly turned their outrage into an online investigation, and uncovered photos of him wearing several luxury watches he could hardly afford on his government salary. As a result, the government ultimately opened an investigation into the matter and Yang was sacked from his posts.


In addition to its role in battling corruption, the media has also emerged as an important tool for combating and addressing many of the other social problems that China is facing in its rapid modernization. Barely a week goes by without a report on the latest national food safety scandal or case of illegal pollution in both traditional and social media, with such reports often followed by government investigations.


Beijing leaders have also discovered that the media can also be an important vehicle for improving communication between the government and general public -- something that was a low priority in previous eras when officials only cared about pleasing their higher-up party bosses.


Following a Beijing directive in late 2011, most local government agencies and other organizations have all established microblog accounts, which they use to keep the public informed about their latest activities and seek feedback on upcoming plans. Such input has become a valuable way to temper traditional public mistrust toward the government, which historically didn't make much effort to include the public in any of its internal discussions.


Lastly, the government has also discovered that media, especially social media, can be an effective tool in gauging public opinion on everything from broader national topics like inflation down to very local issues like land redevelopment. Such feedback was difficult to get in the past due to interference by local officials, who tried to filter out or downplay anything with negative overtones and play things up to their own advantage. As a result, central government officials often received incomplete pictures of what was happening in their own country.


With all of these valuable roles to play, the media has become an increasingly important part of Beijing's strategy in executing many of its top priorities.


The government also realizes that a certain degree of openness is critical to letting the media perform many of those roles, which may explain its relatively tolerant approach in the recent Southern Weekly conflict. Such tolerance is likely to continue under Xi's administration, helping to shift more power towards a field of increasingly emboldened reporters at both traditional and new media and away from their traditional propaganda masters.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Doug Young.






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Golden Globes: Fey, Poehler shine; 'Les Miz,' 'Argo' win big

Receiving the Cecil B. DeMille lifetime achievement award during the Golden Globes telecast is usually a time for some benignly pleasant remarks. Jodie Foster, however, used the platform Sunday night to publicly address her sexuality and private life.









Hosting the 70th Golden Globes Sunday in Beverly Hills, Tina Fey and Amy Poehler proved it was possible to skewer their Hollywood colleagues without entirely alienating the crowd, as distinct from previous host Ricky Gervais.


Some 20 years after Fey and Poehler first met as improvisers at the Chicago comedy hub i.O. Theater, the pair were relaxed, funny and fully in control as they took in a room filled with the biggest stars of films “that have only been in theaters for two days,” and “the rat-faced people of television.”


Aside from their opening monologue, however, Fey and Poehler popped up only intermittently throughout the NBC broadcast.








The show — which included a rambling and unwieldy speech by lifetime achievement award winner Jodie Foster and a surpise win for “Argo” as best picture and Ben Affleck as best director — could have used their spikey interjections to give a discombobulated night a stronger throughline.


But the co-hosts' bits right at the top were pure gold. Referring to the controversy surrounding the depiction of torture in “Zero Dark Thirty,” Poehler teed up a joke that probably came closest to Gervais-level comedic bite, noting of director Kathryn Bigelow: “I haven't been following the controversy … but when it comes to torture, I trust the lady who spent three years married to James Cameron,” a line that prompted a shocked laugh from “Zero Dark” star (and best actress winner) Jessica Chastain.


Fey aimed her own zinger toward “Django Unchained” filmmaker Quentin Tarantino (a winner for best screenplay), whom she called “the star of all my sexual nightmares,” and then looked over at “Les Miserables” co-star Anne Hathaway (best actress in a film comedy or musical) and remarked, “I have not seen someone totally alone and abandoned (as Hathaway's ‘Miserables' character, Fantine) since you were onstage with James Franco hosting the Oscars.” Poehler noted a significant absence in the audience Sunday: “Meryl Streep is not here tonight because she has the flu — and I hear she's amazing in it.”


On the red carpet earlier in the night, Fey and Poehler stressed that their own nominations were the least of their concerns, and when their names were announced as nominess, Fey jokingly gritted her teeth with Jennifer Lopez by her side, while Poehler snuggled up to George Clooney. Neither won. The honor went to “Girls” creator and star Lena Dunham, who thanked her fellow nominees “for getting me through middle school.” (“Girls” also won for best comedy television series.) As a follow-up, Fey and Poehler appeared on stage, drinks in hand, disconsolate. “Glad we got you through middle school, Lena,” said Fey, who then directed her attention towards singer Taylor Swift: “You stay away from Michael J. Fox's son,” she instructed. “Or go for it,” added Poehler.


In TV, the big winner was “Homeland,” which was named best drama. The Showtime drama also notched acting wins for stars Damian Lewis and Claire Danes, echoing their Emmy wins. That came as no surprise — unlike Don Cheadle's win (over the likes of Alec Baldwin, Jim Parsons and Louis C.K.) for his role in “House of Lies,” also on Showtime.


In the movie categories, Jennifer Lawrence (“Silver Linings Playbook”) toppled Streep, Maggie Smith and Judi Dench in winning best actress in a comedy or musical, accepting her award with a sly wink at noted awards-season campaigner and movie mogul Harvey Weinstein: “Harvey, thank you for killing whoever you had to kill to get me up here today.” Best supporting actor honors went to Christoph Waltz as the German bounty hunter in “Django Unchained.”


Former President Bill Clinton made an unexpected appearance to introduce the clips from “Lincoln,” a film that depicts a commander in chief pushing a bill through Congress with the help of some unsavory deal-making. “I wouldn't know anything about that,” joked Clinton. Poehler then followed him onstage and exclaimed, “Oh my God, that's Hillary Clinton's husband!” Daniel Day-Lewis won best actor for his performance in “Lincoln,” as well.


Some lighter moments shone: Hilariously, presenters Kristen Wiig and Will Ferrell pretended to have seen each of the movies nominated, when clearly they hadn't, a bit that amused most in the audience — with the exception of a stone-faced Tommy Lee Jones. Upon her win, Hathaway clutched her Golden Globe and said, “Thank you for this lovely, blunt object” that she would forevermore use “as a weapon against self-doubt.” (Previous Golden Globe winner Richard Dreyfuss later Tweeted: “Lovely blunt objects make only OK weapons against self-doubt. #goldenglobes #trustme.”)


Michael Haneke, the Austrian filmmaker whose “Amour” won for Best Foreign Film, was awarded the prize by Arnold Schwarzenegger. “I never thought I would get an award in Hollywood from an Austrian,” he said.


Smith (not in attendance) won for best supporting actress in a TV series as the droll dowager countess on the PBS hit “Downton Abbey.”


The best surprise reaction early on had to be from pop star Adele. Winning best original song for the theme to the James Bond film “Skyfall,” she admitted she'd come to the awards with a fellow new mom, both eager for a night out: “We've been (wetting) ourselves laughing,” she said. Wrapping up the night, Poehler announced: “We're going home with Jodie Foster.”





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Syria war envelops region in "staggering" crisis: aid agency


BEIRUT (Reuters) - Syria's civil war is unleashing a "staggering humanitarian crisis" on the Middle East as hundreds of thousands of refugees flee violence including gang rape, an international aid agency said on Monday.


Opposition activists said an air strike on rebel-held territory southwest of Damascus killed 20 people, including women and children, adding to the more than 60,000 people estimated to have been killed in the 21-month-old conflict.


Over 600,000 Syrians have fled abroad - many to neighboring Turkey, Lebanon and Jordan - as violence has spread and international efforts to find a political solution have sagged.


Refugees interviewed by the International Rescue Committee (IRC) cited sexual violence as a major reason they fled the country, the New York-based organization said in a 23-page report on the crisis published on Monday.


Gang rapes often happened in front of family members and women had been kidnapped, raped, tortured and killed, it said.


"After decades of working in war and disaster zones, the IRC knows that women and girls suffer physical and sexual violence in every conflict. Syria is no exception," the group added.


Rebels and government forces have both been accused of human rights abuses during the conflict, which began with peaceful protests against President Bashar al-Assad in March 2011.


The unrest turned violent after government forces fired on demonstrators and has since become a full-scale civil war.


Fierce winter weather has worsened the plight of hundreds of thousands of refugees. The IRC urged donors to step up planning and funding in the expectation that more Syrians will flee.


"Nearly two years into Syria's civil war, the region faces a staggering humanitarian disaster," the IRC report said.


AIR POWER


Despite advancing in Syria's north and east and winning support from regional powers like Turkey and Saudi Arabia, the Syrian rebels have been unable to break a military stalemate with government forces elsewhere.


They have struggled to counter government air power in particular, making it hard for them to take and hold territory crucial to Assad's grip on power, including major cities.


An activist in Moadamiyeh, a rebel-held town southwest of Damascus, said an air strike there killed 20 people on Monday.


Activist video footage showed images of the limp body of a boy being pulled out from broken concrete, his back covered in dust and his front in blood.


The Syrian Observatory for Human Rights, a Britain-based monitoring group, said at least 13 people had died in the air raid but the toll was likely to rise.


Syrian state television said "terrorists" - its word for rebels - had fired a mortar from the Damascus suburb of Daraya on a civilian building in Moadamiyeh, killing women and children.


The reports could not be independently verified because of government restrictions on independent media in Syria.


Syrian warplanes also bombarded the strategic Taftanaz air base that rebels seized last week, the Observatory said.


In another sign of escalating bloodshed, Human Rights Watch said it had evidence that government forces had used multi-barrel rocket launchers to deliver Egyptian-made cluster munitions in recent attacks.


"Syria is escalating and expanding its use of cluster munitions, despite international condemnation of its embrace of this banned weapon," it said.


DEADLOCK


Syria's rising death toll has brought international intervention no closer. The United States and Russia have been deadlocked over how to resolve the crisis.


Moscow - which has continued to back its long-standing ally and arms client Assad - urged the opposition on Sunday to make its own proposals in response to a speech by Assad a week ago.


The speech, which offered no concessions, was criticized by the United Nations and United States. Syrian rebels described it as a renewed declaration of war.


Talks between Russia and the United States in Geneva on Friday failed to produce a breakthrough.


As diplomatic efforts have stalled, the conflict has continued to draw in Syria's neighbors.


A mortar round apparently fired from Syria crashed in a field in Turkey overnight close to a refugee camp housing thousands of Syrians along the border, Turkish state media said.


NATO troops have begun deploying Patriot defense missiles in Turkey against a potential attack from its southern neighbor. The missiles are expected to be operational by the end of the month. Turkey is a strong supporter of the Syrian rebels.


NATO said Syrian government forces had launched a short-range, Scud-style ballistic missile on Sunday, bringing to more than 20 the number launched in the past month.


The missiles, apparently fired against opposition targets, landed in Syrian territory, mostly in northern Syria, a NATO spokeswoman said in Brussels, but some of the missiles landed "quite close" to the Turkish frontier.


(Additional reporting by Laila Bassam in Beirut and Adrian Croft in Brussels; Writing by Alexander Dziadosz; Editing by Mark Heinrich)



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Ravens shock Broncos; 49ers rout Packers


The 49ers and Ravens are getting another shot at making the Super Bowl.


Losers in tight conference championship games a year ago, they are returning to the final step before the big game in the Big Easy after wins Saturday.


Baltimore took the long, frigid route, rallying at Denver for a 38-35 victory in an AFC divisional playoff. The Ravens will go to either New England, where they lost 23-20 in the conference championship match last January, or Houston. The Patriots and Texans face off Sunday in Foxborough, Mass.


San Francisco took the NFC game at night 45-31 over Green Bay behind the running and passing of quarterback Colin Kaepernick. That gave both coaching Harbaughs victories Saturday: Jim with the 49ers, John with the Ravens.


San Francisco fell in overtime to the New York Giants for the NFC title last year. The Niners will either visit Atlanta or host Seattle in next weekend's championship matchup.


The wild-card Seahawks are at the Falcons in Sunday's early game.


Second-year QB Kaepernick made Jim Harbaugh's decision to stick with him over incumbent Alex Smith during the season look brilliant. He set a playoff mark for the position by rushing for 183 yards, including a 56-yard TD, and threw for 263 yards. Kaepernick hit Michael Crabtree for two scores and Frank Gore rushed for 119 yards.


The AFC West champion Niners (12-4-1) gained 579 yards.


"It feels like we're in the same place," Crabtree said. "Winning that game last year, we're in the same place. It's just what we do the next game. It's all about the next game."


The NFC North-winning Packers (12-6) beat Minnesota in the wild-card round last weekend, but their defense was overmatched at San Francisco.


Aaron Rodgers finished 26 for 39 for 257 with two TDs and an interception.


Ravens 38, Broncos 35, 2 OT


Rookie Justin Tucker's 47-yard field goal 1:42 into the second overtime of the longest playoff game in 26 years advanced the Ravens and kept star linebacker Ray Lewis' career going at least another week.


Earlier this season, the AFC North champ Ravens (12-6) beat the Patriots 31-30 in Baltimore. They lost 43-13 at Houston.


Joe Flacco's 70-yard heave to Jacoby Jones with 31 seconds remaining forced the overtime. Flacco is the only quarterback to win playoff games in each of his first five seasons, and he heads to his third AFC championship match. He also lost to Pittsburgh in the 2008 title game.


"We fought hard to get back to this point and we're definitely proud of being here." Flacco said. "We feel like it's going to take a lot for somebody to come and kick us off that field come the AFC championship game."


Lewis announced before they beat Indianapolis in the wild-card round that this was the last of his 17 pro seasons. It's still going.


"When you look back at it and let the emotions calm down, it will probably be one of the greatest victories in Ravens history," Lewis said. "It's partly because of the way everything was stacked against us coming in."


Peyton Manning lost in his first postseason appearance with the AFC West-winning Broncos (13-4), who had won their last 11 games to earn home-field advantage in the playoffs. They wasted it by giving up long plays, negating a record-setting performance by kick returner Trindon Holliday.


Holliday ran back the second-half kickoff 104 yards for a TD. He went 90 yards with a first-quarter punt return to become the first player to score on one of each in a playoff game.


"He's one of the greatest quarterbacks of all time and for us to come in here and confuse him the way we did, and make the plays we did?" Lewis said. "We gave up two big special teams touchdowns, but the bottom line is, but we kept fighting."


Seahawks (12-5) at Falcons (13-3)


Oddly, there might be more doubts floating around the home team with the spiffy record than the visitors.


While Seattle has won six in a row, erased its reputation as a road flop with three straight away victories — including last week at Washington — and has the league's stingiest defense.


It's NFC South champ Atlanta, 0-3 in the postseason under coach Mike Smith and with Matt Ryan at quarterback, that probably faces more pressure.


"We've been disappointed a few times," said center Todd McClure, a Falcon for 13 years. "I think we've got guys in this locker room who are hungry and ready to get over that hump."


One of them is Tony Gonzalez, the career leader in nearly all receiving categories among tight ends. In 16 pro seasons, Gonzalez never has won a playoff game. And he's said this very likely is his final year in the NFL.


"I'm not going to lie to you," he said. "I really, really, really want to win this game."


To get it, Gonzalez, Ryan and star receivers Julio Jones and Roddy White must contend with the league's most physical defense, a unit that completely shut down the Redskins for three quarters in the 24-14 wild-card win.


"I expect our guys to try to play like they always play," Seattle coach Pete Carroll said. "They don't need to change anything because we're not doing anything different, we're going to try and hang with them, and we'll find out what happens."


Texans (13-4) at Patriots (12-4)


Houston's reward for its wild-card win over Cincinnati is a return to trip to Foxborough, where the Texans' late-season spiral began. Houston was in position for home-field advantage in the AFC before being routed 42-14 by the Patriots, then losing twice more in the final three games.


This is only the fourth postseason game in the Texans' 11-season NFL history. The Patriots began winning Super Bowls with Tom Brady before the Texans were born.


AFC South champion Houston must bring the fierce pass rush it often has shown with end J.J. Watt, who led the NFL with 20 1-2 sacks.


"Biggest goal of them all, Super Bowl, and this is a big step for us," Watt said, "and we're really excited about the challenge."


That challenge comes against the NFL's most prolific offense. The Texans and Patriots allowed the same number of points, 331, but AFC East winner New England led the NFL in scoring with 557 points, 34.8 per game.


Brady would surpass Joe Montana for most postseason victories by a quarterback by beating Houston. Brady is 16-6, although he began 10-0.


He isn't looking for a repeat of the Dec. 10 romp.


"Giving us an opportunity to have this game at home, I think that's the important thing about last game," Brady said. "Other than that, this is going to be a whole different game full of our own execution, our ability to try to beat a very good football team that's played well all year."


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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Cold Weather Back in Full Force







 Cold Weather Back in Full Force

Reporting Jeff Ray





This morning an icy mix of rain/sleet finally left through our northeast corner. Sunshine is replacing all of that but this brisk north wind will keep highs only in the low 40′s. It’ll be cold and dry for the next several days.






The storms yesterday and last night brought some good rains in Dallas, Ellis, Collin and Hunt Counties. Below you can see some local rainfall amounts reached over 1″. Parts of Dallas as well as McKinney and Waxahachie reported over an inch of rain on Saturday.


 Cold Weather Back in Full Force


Highs today will only reach into the low 40′s in the metro area but stay in the 30′s across Cooke, Montague and Jack Counties. Brisk winds continue out of the north at 15-20mph all day; dying down finally  in the late afternoon and early evening.


 Cold Weather Back in Full Force



Monday morning we’ll wake with lows only in the mid-20′s and a hard freeze going on. It’ll be like that for the next couple of mornings.


This shot of cold weather is going to stick around for most of the week. Highs will only be in the low 40′s for Monday to Wednesday. This is stark contrast to Friday’s high of 71°; its been cold for the most part since the day before Christmas; after three days of above-normal temperatures we fall right back to winter. We’ll also see hard freezes in the nights:


 Cold Weather Back in Full Force


One good thing to say concerns the rain. We had a massive amount of it fall on Tuesday and Wednesday, recorded a little more Thursday and Saturday. We’ve already surpassed the “normal” rainfall for the month, a good start to the new year. Keep in mind that the total rainfall over the last two years has been well below-normal; the driest 2-year period for Texas since the mid-50′s.


 Cold Weather Back in Full Force


Right now we have removed any talk of precipitation on Wednesday and Thursday, this could change as some of the forecast models suggest another strong low coming out of the desert southwest giving us some winter weather. The set-up in fact could produce a high-impact ice storm so we’ll need to watch closely if other forecast models start to produce this weather solution as well.


 Cold Weather Back in Full Force




Weather News Headlines – Yahoo! News





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Quest: U.S. economy to dominate Davos




The United States and the sorry state of its political and budgetary process will be the center of attention at Davos, writes Quest




STORY HIGHLIGHTS


  • Quest: Davos is a chance to see where the political and economic landmines are in 2013

  • Quest: People will be speculating about how dysfunctional the U.S. political process has become

  • Quest: Davos has been consumed by eurozone sovereign debt crises for three years




Editor's note: Watch Quest Means Business on CNN International, 1900pm GMT weekdays. Quest Means Business is presented by CNN's foremost international business correspondent Richard Quest. Follow him on Twitter.


(CNN) -- It is that time of the year, again. Come January no sooner have the Christmas trees been taken down, as the winter sales are in full vicious flood the world of business start thinking about going to the world economic forum, better known as Davos.


For the past three years Davos has been consumed by the eurozone sovereign debt crises.


As it worsened the speculation became ever more frantic.....Will Greece leave the euro? Will the eurozone even survive? Was this all just a big German trick to run Europe? More extreme, more dramatic, more nonsense.


Can China be the biggest engine of growth for the global economy. Round and round in circles we have gone on these subjects until frankly I did wonder if there was anything else to say short of it's a horrible mess!


This year there is a new bogey man. The US and in particular the sorry state of the country's political and budgetary process will, I have little doubt, be the center of attention.


Read more: More 'cliffs' to come in new Congress


Not just because Congress fluffed its big test on the fiscal cliff, but because in doing so it created many more deadlines, any one of which could be deeply unsettling to global markets... There is the $100 billion budget cutbacks postponed for two months by the recent agreement; postponed to the end of February.


At exactly the same time as the US Treasury's ability to rob Peter to pay Paul on the debt ceiling crises comes to a head.


Read more: Both Obama, GOP set for tough talks ahead


The Treasury's "debt suspension period" is an extraordinary piece of financial chicanery that if we tried it with our credit cards would get us locked up!! Then there is the expiration of the latest continuing resolution, the authority by which congress is spending money.


There is the terrifying prospect that all these budget woes will conflate into one big political fist fight as the US faces cutbacks, default or shutdown!!


I am being alarmist. Most rational people believe that the worst sting will be taken out of this tail....not before we have all been to the edge...and back. And that is what Davos will have on its mind.


People will be speculating about how dysfunctional the US political process has become and is it broken beyond repair (if they are not asking that then they should be...)




They will be pondering which is more serious for risk...the US budget and debt crises or the Eurozone sovereign debt debacle. A classic case of between the devil and the deep blue sea.




The official topic this year is Resilient Dynamism. I have absolutely no idea what this means. None whatsoever. It is another of WEF's ersatz themes dreamt up to stimulate debate in what Martin Sorrell has beautifully terms "davosian language" In short everyone interprets it as they will.




What I will enjoy, as I do every year, is the chance to hear the global players speak and the brightest and best thinkers give us their take on the global problems the atmosphere becomes febrile as the rock-stars of finance and economics give speeches, talk on panels and give insight.




Of course comes of these musings, it never does at Davos. That's not the point. This is a chance to take stock and see where the political and economic landmines are in 2013. I like to think of Davos as the equivalent of Control/Alt/Delete. It allows us to reboot.


We leave at least having an idea of where people stand on the big issues provided you can see through the panegyrics of self congratulatory back slapping that always takes place whenever you get like minded people in one place... And this year, I predict the big issue being discussed in coffee bars, salons and fondue houses will be the United States and its budgetary woes.







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Japanese airline's grounded 787 leaks fuel in tests




















The FAA stepped in Friday to assure the public that Boeing's new 787 "Dreamliner" is safe to fly. The AP spoke with Kevin Hiatt, Flight Safety Foundation CEO & President, who says mechanical issues with new aircrafts are not uncommon. (Jan. 11)




















































Tokyo—





Japan Airlines Co (JAL) said on Sunday that a Boeing Co 787 Dreamliner jet undergoing checks in Tokyo following a fuel leak at Boston airport last week had leaked fuel during tests earlier in the day.

An open valve on the aircraft caused fuel to leak from a nozzle on the left wing used to remove fuel, a company spokeswoman said. The jet is out of service after spilling about 40 gallons of fuel onto the airport taxiway in Boston due to a separate valve-related problem.






In Boston, a different valve on the plane opened, causing fuel to flow from the centre tank to the left main tank. When that tank filled up, it overflowed into a surge tank and out through a vent.

The causes of both the incidents are unknown, the JAL spokeswoman added.

There is no timetable for the plane to return to service.

On Friday, the U.S. government ordered a wide-ranging review of Boeing's 787 Dreamliner, citing concern over a fire and other problems, but insisted the passenger jet was still safe to fly.

JAL and local rival All Nippon Airways Co fly 24 of the 49 Dreamliners delivered to end-December.

(Reporting by James Topham; Editing by Jeremy Laurence and Catherine Evans)


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France bombs Mali rebels as more troops arrive in Bamako


BAMAKO/PARIS (Reuters) - French fighter jets bombed Islamist rebels in Mali for a third day on Sunday as Paris poured more troops into the capital Bamako, awaiting the arrival of a West African force to dislodge al Qaeda-linked insurgents from the country's north.


French Defence Minister Jean-Yves Le Drian said France's dramatic intervention on Friday to bomb a convoy of heavily armed Islamist fighters sweeping southwards had stopped them from seizing Mali's capital Bamako within days.


Western countries fear Islamists could use Mali as a base for attacks on the West, forming a link with al Qaeda militants in Yemen, Somalia and North Africa.


Le Drian said former colonial power France was carrying out continuous bombing raids against the alliance of rebel groups, which seized the country's vast desert north in April.


"There are raids going on now: there were some last night, and there will be more tomorrow," Le Drian told French television. "The president is totally determined that we must eradicate these terrorists who threaten the security of Mali, our own country and Europe."


Residents said French aircraft bombed the northern town of Gao, and a Malian rebel spokesman said they bombed targets in the towns of Lere and Douentza.


Le Drian said France was deploying a further contingent of 80 soldiers to Mali on Sunday, bring the total to 550 soldiers , split between Bamako and the town of Mopti, some 500 km (300 miles) north. State-of-the-art Rafale fighter jets would be dispatched to reinforce the operation on Sunday, he said.


A Reuters cameraman reported seeing on Sunday more than 100 French troops disembarking from a military cargo plane at Bamako airport, just on the outskirts of the capital.


Bamako itself was calm on Sunday, with the sun streaking through the dust enveloping the city as the seasonal Harmattan wind blew from the Sahara. Some cars drove around with French flags draped from the windows to celebrate Paris's intervention.


Hours after opening one front against al Qaeda-linked Islamists, France mounted a commando raid to free a French hostage in Somalia held by al Shabaab militants allied to al Qaeda, but failed to stop him being killed along with a French commando.


A French pilot was killed on Friday when rebels in Mali shot down his helicopter.


President Francois Hollande has made it clear that France's aim in Mali is to support the deployment of a West African mission to retake the north, endorsed by the United Nations, the European Union and the United States.


The 15-nation West African bloc ECOWAS convened a summit for Saturday in Ivory Coast to discuss the military campaign.


With Paris pressing West African nations to deploy troops quickly, Ivory Coast President Alassane Ouattara, who holds the rotating ECOWAS chairmanship, has kick-started the operation to deploy some 3,300 African soldiers.


Ouattara was himself installed in power with French military backing in 2011 after a brief civil war triggered by former president Laurent Gbagbo's refusal to step aside after losing a late 2010 election.


"The troops will start arriving in Bamako today and tomorrow," Ali Coulibaly, Ivory Coast's African Integration Minister, said. "They will be convoyed to the front at Sevare."


HOUSE-TO-HOUSE SEARCHES


Under cover from French fighter planes and attack helicopters on Friday, Malian troops drove the Islamists out of the strategic central town of Konna, which they had seized a day earlier. A senior Malian army official said more than 100 rebel fighters had been killed.


Military analysts expressed doubt, however, that this was the start of a swift operation to retake the whole of northern Mali - a harsh, sparsely populated terrain the size of France - as neither equipment nor ground troops were ready.


In Nigeria, which will lead the ECOWAS force, a military official who asked not to be identified said it would take time to train and equip the troops.


In Konna, calm returned after three nights of combat.


"Soldiers are patrolling the streets and have encircled the town," one resident, Madame Coulibaly, told Reuters by phone. "They are searching houses for arms or hidden Islamists."


Another inhabitant said the army set up roadblocks along the route north from Sevare to Konna and was checking for rebels. President Diouncounda Traore declared a state of emergency on Friday giving the military sweeping powers to carry out searches and shut down parts of the country.


"The army is in Konna ... securing the town and to make sure it is safe," army spokesman Lieutenant Colonel Diarran Kone said.


A resident in the northern city of Gao, one of the Islamists' strongholds, had reported scores of rebel fighters were retreating northward in pickup trucks on Saturday. In Bamako, some civilians tried to contribute to the war effort.


"We are very proud and relieved that the army was able to drive the jihadists out of Konna. We hope it will not end there that is why I'm helping in my own way," said civil servant Ibrahima Kalossi, 32, one of over 40 people who queued to donate blood for wounded soldiers.


Concerned about reprisals on French soil, Hollande instructed Prime Minister Jean-Marc Ayrault to tighten security in France at public buildings and on public transport.


France advised its 6,000 citizens in Mali to leave. Thousands more French live across West Africa, particularly in Senegal and Ivory Coast.


Hollande's intervention in Mali could endanger eight French nationals being held by Islamists in the Sahara. A spokesman for one of Mali's rebel groups, Ansar Dine, said on Saturday there would be repercussions.


"There are consequences, not only for French hostages, but also for all French citizens, wherever they find themselves in the Muslim world," Sanda Ould Boumama told Reuters. "The hostages are facing death."


(Additional reporting Adama Diarra, Tiemoko Diallo and Rainer Schwenzfeier in Bamako, Joe Bavier in Abidjan and Leila Aboud in Paris; Writing by Daniel Flynn; Editing by Alison Williams)



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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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