Afghanistan's future: Five questions






STORY HIGHLIGHTS


  • President Obama has revealed new details about the troop withdrawal in Afghanistan

  • But there are several key issues that still must be resolved in the coming months

  • The Afghan military has its critics, but the U.S. has praised its progress

  • There are fears that Afghanistan's advancements might be at risk after 2014




(CNN) -- In his State of the Union address, President Obama reaffirmed that the country's war in Afghanistan would be over by the end of 2014.


He also laid out more specifics.


Of the approximately 66,000 U.S. troops in Afghanistan now, more than half -- 34,000 -- will come home in the next year, Obama said.


At the same time, Afghan troops will assume most of the responsibility for combat missions.


"This spring, our forces will move into a support role, while Afghan security forces take the lead," Obama said.


It was previously expected that Afghan forces would take the lead in combat missions by the middle of this year. But a U.S. official told CNN that the military transition has accelerated and that Afghans will lead all security operations by March.


What does this news mean for Afghanistan and America's longest war? Here are some key questions that will be asked in the coming months:


1. Are the Afghan troops up to the task?


There are certainly doubts.


A Pentagon review in December claimed that only one of 23 Afghan army brigades was capable of functioning on its own.










Meanwhile, literacy rates are low, desertion rates are high, and many deserters have joined the insurgency. There also have been a troubling number of "green-on-blue" attacks: Afghan troops attacking their American comrades.


But Defense Secretary Leon Panetta has spoken positively about the progress Afghans have made in growing their army, reducing violence and becoming more self-sufficient. Afghan forces now lead nearly 90% of operations across the country.


"We're on the right path to give (Afghanistan) the opportunity to govern itself," Panetta said earlier this month.


Afghan President Hamid Karzai said he welcomes the U.S. troop withdrawal and insists his army can defend the country against the Taliban.


"It is exactly our job to deal with it, and we are capable of dealing with it," Karzai said during an interview with CNN's Christiane Amanpour.


What the army needs now, Karzai says, is more equipment and firepower. He came to the Pentagon last month with a wish list asking for more helicopters, drones and other hardware, according to a senior defense official.


"We need an air force. We need air mobility," Karzai told Amanpour. "We need proper mechanized forces. We need, you know, armored vehicles and tanks and all that."


2. What presence will the U.S. have after 2014?


The plan is to withdraw all combat troops but keep a residual force in the country to help train Afghans and carry out counterterrorism operations when needed.


The size of that force is still being discussed.


Gen. John Allen, the former commander of U.S. troops in Afghanistan, recommended between 6,000 and 15,000 troops. But that figure was lowered to a range between 2,500 and 9,000, according to a defense official.


There might not be any U.S. troops at all if the United States cannot come to an agreement over immunity with Afghanistan. There was no American presence in Iraq at the end of that war because the Iraqi government refused to extend legal protections to U.S. troops.


Karzai, who's in favor of a residual force, said he would put the immunity decision in the hands of Afghan elders, and he expressed confidence that he could persuade the elders to see things his way.


Leaving no U.S. troops at all would be a major misstep, said Peter Bergen, CNN's national security analyst. He said the U.S. has abandoned Afghanistan already, in 1989, and the decision left America with little understanding of the power vacuum that led to the Taliban's rise in the first place.


"The current public discussion of zero U.S. troop presence in Afghanistan ... will encourage those hardliner elements of the Taliban who have no interest in a negotiated settlement and believe they can simply wait the Americans out," Bergen wrote in an op-ed for CNN.com. "It also discourages the many millions of Afghans who see a longtime U.S. presence as the best guarantor that the Taliban won't come back in any meaningful way."


3. What's at stake?


The main fear among the Afghan people is that the country could revert to another civil war once the United States withdraws its combat troops. The Taliban are still "resilient and determined," according to a recent Pentagon report, and insurgents continue to carry out attacks and pose a major security threat.


"Some people we've spoken to sort of take it for granted that there's going to be a civil war when the United States leaves," said CNN's Erin Burnett on a recent trip to Afghanistan. "It happened before when the Soviet Union left (in 1989)."










For all the violence Afghanistan has seen in the past decade, it has also seen major advancements in human rights and quality of life.


"During the Taliban, basically there were thousands of girls going to school in Afghanistan. Now you have millions of girls going to school," Burnett said. "So there's been real progress on women's rights. Obviously there remain a lot of problems -- honor killings, forced marriages, domestic violence -- but there has been real progress."


Retired Army Gen. Stanley McChrystal, once America's top commander in Afghanistan, said the Afghan people are "terrified."


"They're terrified because they think they have something to lose," McChrystal said. "There has been progress made. There is a better life. There are girls in school. There are things that are better than they were and opportunities potentially ahead.


"But they're afraid that if we completely abandon them in 2014, as they perceive we did in 1989, (things) would all go back."


And in Washington, there are worries that the wrong move could put the United States right back where it started, with nothing to show for a bloody conflict that started in 2001.


Chairman of the House Armed Services Committee, Rep. Buck McKeon, R-California, expressed concern last week that a hasty withdrawal could be "needlessly fraught with risk."


"Since the president took the commendable step of deploying a surge to Afghanistan in 2009, we have known that our hard-fought gains are fragile and reversible," McKeon said. "That isn't my assessment, but the consistent opinion of experts both military and civilian."


4. Who will lead after Karzai?


Afghanistan's only president of this century won't be in charge for much longer.


Elections are scheduled for April 2014, and Karzai has reached the term limit set by his country's constitution. He told Amanpour it's "absolutely time to go."


"A new president will come to this country. A new government will come to this country. And I'll be a happily retired civil servant," he said.


So while Afghanistan oversees a major military transition, it also will have to make a political transition.


Who will lead the country during this critical moment in its history? Will the vote go smoothly, without violence and without controversy? There were reports of ballot tampering and other violations in the last one.


The answers might be just as important to Afghanistan's security as the readiness of its troops.


"The single biggest challenge for us is the political transition, the elections of 2014," said Saad Mohseni, the media mogul behind Afghanistan's Tolo Television. "(If) we have credible elections, I think we'll be OK for the next five, six years. (If) we don't, there is a real danger that we'll see instability, especially in 2014 as the U.S. troops withdraw."


5. What part will the Taliban play?


Despite the ongoing insurgency, Karzai seems eager to resume stalled peace talks with the Taliban and include them in the political process.


The Taliban pulled out of talks last year, but Karzai said last month they "are very much conveying to us that they want to have peace talks. They're also people. They're also families. They also suffer, like the rest of Afghans are suffering."


Javid Ahmad, a Kabul native now with the Asia Program of the German Marshall Fund of the United States, believes revitalized peace talks are essential to Afghanistan's future and to the legacy of America's war.


"If withdrawing responsibly in 2014 is indeed high on President Obama's agenda, then he has little choice but to prioritize and accelerate the peace talks, negotiate a cease-fire between all sides, and reach a settlement that ensures that the Taliban lay down their weapons," Ahmad wrote in a recent column.


But will the Taliban be willing to cooperate? And if they enter negotiations, how much of an influence would they have on an Afghan society that has seen so many changes in the past decade?


"There have to be some red lines," said Jawed Ludin, Afghanistan's deputy foreign minister for political affairs. "Some of the achievements that we've had in the last 10 years can't be negotiated."


Karzai sounded confident that most of the Taliban would acknowledge this.


"I think there is now a critical mass in Afghanistan of the educated, of the Afghan people who want a future of progress and stability," he said. "And I think also that the Taliban recognize that this corner has been turned, the majority of them. Some may be there among them who would not -- who would remain, you know, in the darkest of the mindset possible. But those are a few."


CNN's Chris Lawrence, Mike Mount and Jake Tapper contributed to this report.






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Romanian film “Child’s Pose” wins Berlin Golden Bear






BERLIN (Reuters) – “Child’s Pose”, a Romanian drama about a domineering mother using her social position to try to save her son from jail, won the Golden Bear for best picture at the Berlin film festival on Saturday.


The movie, directed by Calin Peter Netzer and starring Luminita Gheorghiu in the central role, had been among the favorites for the coveted prize, which extends the remarkable success of Romanian filmmakers on the European festival circuit.






The awards ceremony brought to a close the 11-day cinema showcase, where hundreds of movies were screened across Berlin and stars including Matt Damon, Nicolas Cage, Anne Hathaway, Jude Law and Catherine Deneuve walked the red carpet.


In “Child’s Pose”, Gheorghiu shines as the wealthy 60-year-old Cornelia, who attempts to buy off the poor family of a boy killed by her son in a road accident.


The veteran actress also appeared in Cristian Mungiu’s “4 Months, 3 Weeks and 2 Days”, a grisly abortion drama that put Romanian cinema firmly on the international map when it won the Palme d’Or at the Cannes film festival in 2007.


“I’m still shell-shocked,” Netzer told reporters after the ceremony. “I haven’t quite woken up to this new reality. It will probably take a couple of days for it to sink in.”


The big surprise on the night was the best actor award for Nazif Mujic, a Bosnian Roma who had to be convinced to play himself in “An Episode in the Life of an Iron Picker” about his own experiences on the fringes of society.


The movie, a docu-drama directed by Danis Tanovic and made for 30,000 euros ($ 40,100), captured hearts in Berlin for its straightforward storytelling and moving account of the impoverished Mujic’s desperate attempts to pay for his wife’s emergency operation.


“FEELS LIKE NEIL ARMSTRONG”


Tanovic, an Oscar winner for his 2001 war movie “No Man’s Land”, read about the story in a local newspaper in 2011 and was so angry at Bosnian society’s apparent lack of humanity that he determined to make a film about it.


“I think he (Mujic) feels like Neil Armstrong when he went to the moon, seriously,” Tanovic said of his star. “And I really do hope it is going to change his life for the better.”


Arguably the most popular winner at the 63rd Berlin film festival was Paulina Garcia, the Chilean actress whose portrayal in “Gloria” of a 58-year-old divorcee in Santiago was the highlight for many festival-goers and won her best actress.


Refusing to retire quietly into the background, Gloria drinks, smokes, parties and enjoys sex, all the while holding down a full time job and keeping in touch with her children.


The powerful older woman was a constant theme throughout the main competition of 19 films eligible for prizes, and Garcia was up against Gheorghiu and French actresses Catherine Deneuve and Juliette Binoche for the acting Silver Bear.


Best director went to U.S. filmmaker David Gordon Green for his touching road movie “Prince Avalanche”, in which Paul Rudd and Emile Hirsch play a pair of misfits who go to work in a remote forest where they embark on a journey of self-discovery.


Iranian entry “Closed Curtain” picked up the best script prize for directors Kamboziya Partovi and Jafar Panahi. Panahi made the movie in secret in defiance of a 20-year filmmaking ban and was not allowed to travel to Berlin to collect his award.


“Tradition and culture remain, politicians come and go,” Partovi told reporters after receiving the honor.


Kazakh cinematographer Aziz Zhambakiyev was honored for outstanding artistic achievement for his painterly work on “Harmony Lessons”, set on the harsh steppes of Kazakhstan.


($ 1 = 0.7490 euros)


(Reporting by Mike Collett-White, editing by Paul Casciato)


Movies News Headlines – Yahoo! News





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Millionaires Say They’re Better Off Than in 2007






The good old days for the wealthy are now back.


A survey from Northern Trust found that three quarters of millionaires surveyed said they are better off, or as well off, as they were in 2007 – the peak for both wealth and sheer numbers of America’s millionaires. Most cited improved investment returns as their reason for feeling better off.






(Read More: US Will Add Five Million Millionaires By 2017)


That confidence may soon start translating into hiring. Eighty percent of wealthy business owners say they plan to recruit more workers or keep their staff levels stable over the next 18 to 24 months. One in five plan to make capital investments in upgrading computers and other technology over the same period.


Still, the millionaires are less optimistic about the broader country. Two thirds of millionaires believe the country is worse off than it was in 2007. They blame the growing national debt and stubborn unemployment as the reasons.


Nearly a third blamed their negative outlook on the Obama administration.


In short, today’s millionaires are feeling prosperous in their private life, but pessimistic about public life. “The survey results mirror our clients’ divergent views around U.S fiscal policy,” said Katie Nixon, Northern Trust’s Chief Investment Officer for Wealth Management.


(Read More: Cities That Are Minting Millionaires the Fastest)


When it comes to investment goals, more than a third of wealthy investors said growing wealth was their goal. About one quarter focus on generating income and the rest say capital preservation is their goal.


More From CNBC


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Florida hit by "tsunami" of tax identity fraud


MIAMI (Reuters) - Bruce Parton was only a few weeks from retirement after 30 years as a mail carrier in sunny Florida.


He never lived to fulfill his retirement plan of moving back to a quiet life in the Catskill mountains of New York, not far from where he grew up on Long Island.


Instead, he was gunned down on his daily mail route in December 2010 by members of an identity theft ring who stole his master key as part of a scheme to claim fraudulent tax refunds.


Using stolen names and Social Security numbers, criminals are filing phony electronic tax forms to claim refunds, exploiting a slow-moving federal bureaucracy to collect the money before victims, or the Internal Revenue Service, discover the fraud.


Parton was a victim of what officials say has ballooned into a massive, and dangerous, illegal industry that could cost the nation $21 billion over the next five years, according to the U.S. Treasury Department.


While that is a relatively small sum compared to the $1.1 trillion collected from individual tax payers in the last fiscal year, the crime has been growing by leaps and bounds in the last three years.


"We are on the top of a national trend that is causing a hemorrhage of tax dollars," said Wifredo Ferrer, United States Attorney for south Florida. "It's a tsunami of fraud."


While the IRS says it has detected cases in every state except North Dakota and West Virginia, the fraud's epicenter is Florida, and it is mostly concentrated in Miami and Tampa.


Miami has 46 times the per-capita rate of false tax refund claims than the rest of the country, and 70 times the national average in dollar terms, Ferrer told Reuters.


"For whatever reason, we always tend to lead the nation when it comes to fraud," he said, noting that his office has been battling massive Medicare fraud in recent years that has since spread to other parts of the country.


Florida's high proportion of older residents, who can be more vulnerable to fraud, may be one reason for the high levels of fraud in the state.


Nationwide, the number of cases of tax identity theft detected by authorities sky-rocketed to more than 1.2 million cases in 2012 from only 48,000 in 2008, according to the Treasury Department.


The real number of phony tax filings is likely much higher as the fraud is hard to track, according to a November General Accountability Office report.


GANG LINKS


The tax ID theft problem is particularly troubling as, unlike Medicare fraud, it is associated with violent crime and armed gangs.


Tampa police first detected it in 2010 when officers discovered wanted street criminals engaged in tax fraud. "They were holed up in hotels with laptops churning out tax claims," said congresswoman Kathy Castor, who represents the area and is pressing the IRS to get tougher on the fraud.


When agents raided a Howard Johnson in East Tampa in late 2010, they found suspects smoking marijuana and four laptop computers being used to file fraudulent tax returns on Turbo Tax, the tax preparation software, according to police records.


The suspects had lists of personal information containing more than 1,000 names and confidential personal information, multiple re-loadable debit cards, and records of numerous financial transactions. The investigation revealed that the suspects had been camped out in the hotel room for more than a week filing claims.


Tax identity fraudsters are apparently drawn by the ease of the crime, officials say.


"The scheme is very basic, it works virtually the same in almost every case," said Ferrer. "All they need is your name and the tax ID number."


Armed with that information a refund claim can be filed electronically, making up other details on the form, including addresses, employer data, income and deductions.


Criminals obtain the vital numbers using various tactics, often by bribing office workers with access to personnel files inside companies, as well as large public institutions such as hospitals and schools, according to prosecutors.


Last summer a hacker stole 3.8 million unencrypted tax records from the South Carolina Department of Revenue in what is believed to be the largest security breach of a U.S. tax agency. Authorities say they do not know the hacker's motive.


One North Miami man, Rodney Saint Fleur, was charged last year with using the LexisNexis research service account at the law firm where he worked to access names and Social Security numbers of 26,000 people as part of an identity theft scheme, according to court documents.


Victims in Florida have varied from hospital patients, to Holocaust survivors at an elderly Jewish community center, as well as active duty military serving overseas.


In December, a former U.S. Marine from North Miami was sentenced to nearly five years in prison for stealing the identities of more than 40 fellow Marines stationed at Camp Leatherneck in Afghanistan as part of a plot to claim $54,000 in fraudulent income-tax refunds.


In Parton's case the criminals were after his master key that gives postal workers access to mail drop-off boxes and apartment mailboxes. He was shot twice in the chest by a gunman as part of a plot to steal identities in people's mail for tax refund fraud.


The gunman, Pikerson Mentor, 31, was sentenced last month to life plus 42 years.


More than 600 people turned up for Parton's funeral, including postal workers and people who got to know him on his route. "He had been doing that mail route for 10 years and he always had a smile for everyone," said his daughter, Nina Parton.


The criminals stay under the radar using identities of the elderly or the very young, who are unlikely to be filing for earned income, as well as the deceased. They typically claim small refunds, around $3,000, but use multiple identities, with payments often made to pre-paid debit cards.


FIGHTING BACK


The IRS said last week it is intensifying a crackdown on identify theft, with 3,000 agents devoted to tackling the problem, double the number assigned in 2011.


The number of IRS criminal investigations into identity theft more than tripled in the year to September 2012, and it was on pace to double again this year, acting IRS Commissioner Steven Miller told reporters.


The tax collection agency prevented $20 billion in attempted tax refund fraud in fiscal year 2012, up from $14 billion a year earlier, he said.


"It's one of the biggest challenges that faces the IRS today," Miller said. "We're doing much better on all fronts but we have much more to do."


Despite the increase in investigations, the agency still had a backlog of 300,000 cases of people waiting for legitimate refunds after they were victims of fraud. It takes an average of six months to resolve a case, Miller said.


"The IRS have put a lot of resources on it, but they always seem to be behind the curve," said Keith Fogg, a tax professor at Villanova University School of Law.


Electronic filing, which now accounts for 80 percent of returns and was introduced to speed up delivery of refunds, has made the system more vulnerable to fraud.


The IRS is seeking to speed up the loading of data from W-2 payroll forms issued at the beginning of the tax season, a time lapse which gives fraudsters a window of opportunity to file using false data.


The IRS is also looking for ways to authenticate the identity of tax filers at the time of filing to pre-empt fraud, as well as working with the Social Security Administration to limit access to a registry of social security data of deceased tax payers, the so-called "Death Master File", a frequent target of fraud.


"We will not be prosecuting our way out of this. That's not going to be the answer. We're going to have to make it more and more difficult for criminals to profit from this behavior," said Miller. "If they're not successful they will move onto something else."


(Editing by Mary Milliken and Claudia Parsons)



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No. 2 Duke falls to Maryland 83-81


COLLEGE PARK, Md. (AP) — As the final horn sounded and Maryland fans rushed the court to celebrate a rare victory over its bitter rival, weary Duke had just enough energy left to escape the mayhem for the safety of its locker room.


Seth Allen broke a tie by making two free throws with 2.8 seconds left, and the Terrapins stunned the second-ranked Blue Devils 83-81 Saturday night to end a six-game skid in the series.


Coming off a five-day break, Maryland notched its most significant win of the season at the expense of a tired Duke playing its fourth game in 10 days.


The Blue Devils were worn out, and it showed.


Duke was outrebounded 40-20, never led in the second half and got only four points and three rebounds from 6-foot-10 senior center Mason Plumlee.


"This has been an exhausting schedule for our team," coach Mike Krzyzewski said. "We're playing on fumes and I think you could tell that with Mason. I thought he looked exhausted the whole game. He's been great. Obviously not good tonight."


The Terrapins (18-7, 6-6 Atlantic Coast Conference) did not trail after halftime but never could pull away.


Duke (22-3, 9-3) was down by 10 with 3:39 left but pulled even when Rasheed Sulaimon made three foul shots with 16.7 seconds to go. Quinn Cook then fouled Allen as the freshman guard drove through the lane, and Allen made both shots.


After a Duke timeout, Cook's desperation 30-footer bounced off the back rim. Chaos ensued as the fans immediately rushed the court.


"I thought it was in when I got it off," Cook said of his final attempt.


Alex Len had 19 points and nine rebounds for Maryland, and Allen scored 16. The Terrapins had lost 12 of 13 against Duke, including a 20-point embarrassment last month.


"I told our players before the game, there's a lot of pride in Maryland basketball," coach Mark Turgeon said. "There's also a lot of passion about Maryland basketball. We talked about playing with those two things for us and for our fans. Our fans were just tremendous."


From the end of the Star Spangled Banner to the final buzzer, the crowd never stopped shouting for the Terps, who rewarded their fans with a memorable victory in a rivalry that appears destined to end when Maryland leaves for the Big Ten in 2014.


"I have a great deal of respect for Maryland," Krzyzewski said. "If it was such a rivalry they'd still be in the ACC. Obviously they don't think it's that important or else they wouldn't be in the Big Ten."


Oh, but it's very important to Maryland and its coach.


"This win was for my family and the fans," Turgeon said. "I know what this win means for our fan base, and I really wanted to beat Duke."


The Blue Devils had their six-game winning streak end. Seth Curry scored 25 and Cook added 18. But Plumlee was completely outplayed by the 7-1 Len, who went 6 for 8 from the field and 7 for 8 at the foul line.


"There's so much pressure for Mason to play outstanding," Krzyzewski said. "That wears on you as the season goes on. He just didn't look fresh tonight."


Said Plumlee: "I didn't show up to play today and I let my teammates down. It's all on me."


Maryland committed a whopping 26 turnovers, eight by Allen. The Terrapins shot an impressive 60 percent from the floor and finished with a 40-20 rebounding advantage.


Maryland played without reserve guard Pe'Shon Howard, who was suspended for violating team rules. Despite being demoted from his starting role last month, Howard still leads the Terrapins in assists.


Maryland led 66-63 before Allen scored on a drive. Dez Wells then stole the ball from Cook and went in for a dunk for a seven-point lead with 5:20 left. After the Blue Devils closed to 71-63, James Padgett made a layup for Maryland and Wells made two foul shots for a 10-point cushion.


The crowd increased its volume with every subsequent basket by the Terrapins, whose previous win over Duke came in March 2010, when Greivis Vasquez celebrated Senior Night with a 20-point performance.


In this one, it was 80-72 before Curry made two straight 3-pointers to bring Duke to 80-78 with just under a minute left. After Wells was called for a charge, Curry had a 15-footer bounce in and out of the basket.


It was that kind of night for the Blue Devils.


This score was 39 all before Allen hit a 3-pointer to spark a 10-2 run that included five points from freshman Shaquille Cleare. It was 53-43 before Curry bagged a 3-pointer, Alex Murphy made a layup and Curry drove the lane following Maryland's third turnover in a 60-second span.


That cut the gap to three points, and seconds after a 3-pointer by Cook got the Blue Devils to 55-53.


After the Terrapins went up by six, they committed turnovers on three straight possessions. That enabled Duke to close to 59-57 on a dunk by Murphy, but four straight free throws by Len gave Maryland a 64-59 advantage with 7:20 remaining.


The first half featured two ties, 10 lead changes and ended with the Terrapins up 35-34. Curry (14 points) was one of only four Duke players to score before halftime.


Read More..

Meteor shows need to keep eye on sky








By Colin Stuart, special for CNN


February 15, 2013 -- Updated 1512 GMT (2312 HKT)


















Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia


Meteor explodes over Russia








STORY HIGHLIGHTS


  • Meteor explosion above Russia left hundreds of people injured

  • Meteor came on day asteroid expected to pass 27,000 kilometers from Earth

  • Earth is sprinkled with around 170 craters also caused by debris falling from space

  • Stuart says unexpected meteor shows importance of monitoring space for potential threats




Editor's note: Colin Stuart is an astronomy and science writer, who also works as a Freelance Astronomer for the Royal Observatory Greenwich in London. His first book is due to be published by Carlton Books in September 2013. Follow @skyponderer on Twitter.


London (CNN) -- Reports coming from Russia suggest that hundreds of people have been injured by a meteor falling from space. The force of the fireball, which seems to have crashed into a lake near the town of Chebarkul in the Ural Mountains, roared through the sky early on Friday morning local time, blowing out windows and damaging buildings. This comes on the same day that astronomers and news reporters alike were turning their attention to a 40 meter asteroid -- known as 2012 DA14 -- which is due for a close approach with Earth on Friday evening. The asteroid will skirt around our planet, however, missing by some 27,000 kilometers (16,777 miles). Based on early reports, there is no reason to believe the two events are connected.


Read more: Russian meteor injures hundreds



Colin Stuart

Colin Stuart



And yet it just goes to show how much space debris exists up there above our heads. It is easy to think of a serene solar system, with the eight planets quietly orbiting around the Sun and only a few moons for company. The reality is that we also share our cosmic neighborhood with millions of other, much smaller bodies: asteroids. Made of rock and metal, they range in size from a few meters across, up to the largest -- Ceres -- which is 1000 kilometers wide. They are left over rubble from the chaotic birth of our solar system around 5000 million years ago and, for the most part, are found in a "belt" between the orbits of Mars and Jupiter. But some are known to move away from this region, either due to collisions with other asteroids or the gravitational pull of a planet. And that can bring them into close proximity to the Earth.


Read more: Saving Earth from asteroids










Once a piece of space-rock enters our atmosphere, it becomes known as a meteor. Traveling through the sky at a few kilometers per second, friction with the air can cause the meteor to break up into several pieces. Eyewitnesses have described seeing a burst of light and hearing loud, thunderous noises. This, too, is due to the object tearing through the gases above our heads. If any of the fragments make it to the ground, only then are they called meteorites.


Such events are rare, but not unprecedented. An object entered Earth's atmosphere in 1908 before breaking up over Siberia. The force of the explosion laid waste to a dense area of forest covering more than 2000 square kilometers. It is not hard to imagine the devastation of such an event over a more highly populated region. The Earth is sprinkled with around 170 craters also caused by debris falling from space. The largest is found near the town of Vredefort in South Africa. The impact of a much larger asteroid -- perhaps as big as 15 kilometers across -- is famously thought to have finished off the dinosaurs 65 million years ago.


Opinion: Don't count 'doomsday asteroid' out yet


It is easy to see why, then, that astronomers are keen to discover the position and trajectory of as many asteroids as possible. That way they can work out where they are heading and when, if at all, they might pose a threat to us on Earth. It is precisely this sort of work that led to the discovery of asteroid 2012 DA14 last February by a team of Spanish astronomers. However, today's meteor strike shows that it is not currently possible to pick up everything.


A non-profit foundation, led by former NASA astronaut Ed Lu, wants to send a dedicated asteroid-hunting telescope into space that can scan the solar system for any potential threats. For now, astronomers will use Friday's fly-by to bounce radar beams off 2012 DA14's surface, hoping to learn more about its motion and structure. One day this information could be used to help move an asteroid out of an Earth-impacting orbit. This latest meteor over Russia just goes to show how important such work is and how crucial it is that we keep our eye on the sky.


Read more: NASA estimates 4,700 'potentially hazardous' asteroids


The opinions expressed in this commentary are solely those of Colin Stuart.











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For the Rome-based press corps that follow the pope, covering the closed world of the Holy See is like attending to a nuclear missile silo.







February 13, 2013 -- Updated 2259 GMT (0659 HKT)



Becky Anderson talks to Eve Ensler about how her global campaign One Billion Rising can help end violence against women -- through dance.







February 9, 2013 -- Updated 1846 GMT (0246 HKT)



Dalal al-Ziben never thought about having another baby -- her husband has been in a prison for years. But then he had his sperm smuggled out.


















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Judge sets May trial date for Kardashian divorce






LOS ANGELES (AP) — Kim Kardashian has a due date for her baby and now a trial date for her divorce from NBA player Kris Humphries.


A judge on Friday set a May 6 trial for the reality TV star who wants to end her marriage before July, when her child with Kanye West is due.






Kardashian filed for divorce on Oct. 31, 2011, after she and Humphries had been married just 72 days. Their lavish, star-studded nuptials were recorded and broadcast by E! Entertainment Television.


The trial is expected to last three to five days and could reveal details about Kardashian’s reality show empire, which includes “Keeping Up With the Kardashians” and several spinoffs.


Two judges determined Friday that Humphries’ lawyers had adequate time to prepare for the trial.


Humphries wants the marriage annulled based on his claim that Kardashian only married him for the sake of her show.


She denies that allegation and says the case should be resolved through what would be her second divorce.


Humphries’ attorney Marshall Waller asked for a delay until basketball season is over.


But Superior Court Judge Scott Gordon refused, saying firefighters, police officers, truck drivers and others have to miss work for trials, and Humphries must do the same if necessary.


Waller filed paperwork Thursday to withdraw from the case but didn’t mention that development in court and refused to answer any questions about the document on Friday.


Waller said he was still hoping to obtain and review 13,000 hours of footage from Kardashian’s reality shows to try to prove the fraud claim but noted he does not yet have an agreement to receive the footage.


Kardashian’s lawyer said her client was ready for trial.


“Let’s get this case dispensed with,” attorney Laura Wasser said.


Humphries has provided a deposition in the case, as have West and Kardashian family matriarch Kris Jenner.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP


Entertainment News Headlines – Yahoo! News





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Cancana Announces Strategic Plan to Spin Off of Its Gold and Diamond Assets and Sets Date for the Annual Meeting of Its Shareholders






VICTORIA, BRITISH COLUMBIA–(Marketwire – Feb 15, 2013) – Cancana Resources Corp. (TSX VENTURE:CNY) (the “Company” or “Cancana”) is pleased to announce that its annual meeting of its shareholders will be held on April 12, 2013 in Victoria, BC. The Company is also pleased to announce its plan to spin off its gold and diamond assets.


The Board of Directors of the Company has determined that would it be in the best interest of the Company to segregate its minerals classes into new and distinct companies by way of a spin-off strategy. The objective of this plan is to separate the gold and diamond opportunities from the Company”s manganese opportunities. In turn, it is the intent of the Company that each of the spun-off entities will then become a “pure play” in nature and not have co-mingled mineral classes.






As part of this strategic plan Cancana intends to create a number of spin-off companies. Cancana shareholders will be issued common shares in the subsidiary entities that will be based on a share exchange ratio yet to be determined. Shareholders will be defined as those holders of common shares of Cancana as of the record date, which has yet to be set by the Company. The Board of Directors of the Company will determine the date for the distribution of shares from the spin-off companies and a news release announcing the record date will be issued at that time. This strategic plan remains subject to shareholder and regulatory approval.


The Company regretfully accepts the resignation of David Tam from the Board of Directors and as Secretary of Cancana effective immediately. 


Mr. Tam joined the Company in May of 2009, and contributed to the successful development of the Company in its transition from exploration to pre-production. Management and the Board of Directors extend its thanks to Mr. Tam for his substantial efforts and dedicated service to Cancana over the past years.


Mr. Tam comments “I have enjoyed working with the management team at Cancana and serving with the Board of Directors and as an officer of the Company. Over the past few years the Company has made significant progress in its efforts to provide value to its shareholders. As the Company focuses on taking its manganese properties to production, I am confident that the management together with the Board of Directors will continue to move Cancana forward to completing its transition into a full production company.”


CEO, President and Director Mr. Andrew Male added; “On behalf of the Board of Directors, I would like to thank Mr. Tam for his commitment, dedication and assistance to the Company and wish him well in his future endeavours.”


The Company is also pleased to announce that it has retained Rajeev Dewan of WeirFoulds LLP in Toronto to act as its Canadian capital markets legal advisor.


Mr. Dewan is a corporate finance lawyer with WeirFoulds LLP in Toronto. Mr. Dewan previously worked in both the UK and the Middle East with the Financial Services Authority and at a top-tier international law firm and has significant transactional and regulatory experience in the Canadian and international capital markets. Mr. Dewan has been advising the company in connection with securities law matters and has an active practice in advising high growth Canadian companies on cross-border transactions in emerging markets.


Further to the news release announcing the closing of a private placement (the “Private Placement“) on January 31, 2013 the TSX Venture Exchange, upon review, has requested that the Company re-price the 5,480,900 warrants (the “Warrants“) issued pursuant to the Private Placement from an exercise price of $ 0.25 per Warrant to an exercise price of $ 0.27 per Warrant. In addition, further to the Company”s news release dated January 31, 2012, the Company announces an update to the fees paid to certain eligible finders in connection with Private Placement.


The company issued an aggregate of 263,400 finder”s warrants (the “Finder Warrants“) and paid an aggregate amount of $ 55,240 in cash fees to certain eligible arm”s length finders. Additionally, the 263,400 Finder Warrants issued pursuant to the private placement have also been revised from an exercise price of $ 0.25 to an exercise price of $ 0.27. Each Finder Warrant remains exercisable for a unit on the same terms as the units issued in the Private Placement (with the warrants issuance upon exercise of the finder”s warrants having an exercise price of $ 0.27). All other terms of conditions of the Warrants and Finder Warrants remain the same.


About Cancana


Cancana is an exploration stage company that is transitioning into production with assets in Brazil and Canada. The Company has been seeking projects that expand its resource base and provide for near term production and revenue. All available resource reports and information on the Company”s properties are located on the Company website.


Issued on behalf of the Board of Directors of Cancana Resources Corp.


Mr. Andrew Male, CEO & Director


Forward Looking Statements


The information in this news release may contain forward-looking statements within the meaning of applicable Canadian securities laws, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as “plan”, “intends”, “estimate”, “expect”, “anticipate” and “believe” as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management”s future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date, the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbour.


Marketwire News Archive – Yahoo! Finance




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G20 defuses talk of "currency war", no accord on debt


MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.


Japan's expansive policies, which have driven down the yen, escaped criticism in a statement thrashed out in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.


After late night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.


A draft communique seen by delegates on Friday had steered clear of the G7's call for economic policy not to be targeted at exchange rates. But the final version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.


"The language has been strengthened since our discussions last night," Canadian Finance Minister Jim Flaherty told reporters. "It's stronger than it was, but it was quite clear last night that everyone around the table wants to avoid any sort of currency disputes."


The communique did not single out Japan for aggressive monetary and fiscal policies that have seen the yen drop 20 percent, a trend that may now continue.


"The market will take the G20 statement as an approval for what it has been doing -- selling of the yen," said Neil Mellor, currency strategist at Bank of New York Mellon in London. "No censure of Japan means they will be off to the money printing presses."


The statement reflected a substantial, but not complete, endorsement of Tuesday's statement by the G7 nations - the United States, Japan, Britain, Canada, France, Germany and Italy.


"We all agreed on the fact that we refuse to enter any currency war," French Finance Minister Pierre Moscovici told reporters.


NO FISCAL TARGETS


The text also contained a commitment to credible medium-term fiscal strategy, but stopped short of setting specific goals.


A debt-cutting pact struck in Toronto in 2010 will expire this year if leaders fail to agree to extend it at a G20 summit of leaders in St Petersburg in September.


European Economic and Monetary Affairs Commissioner Olli Rehn said he expected concrete debt targets to be agreed at the September meeting.


"We have a common view on the need to have a credible medium-term plans for fiscal consolidation, which is also essential so we have foundation for sustainable growth," he told Reuters.


The United States says it is on track to meet its Toronto pledge but argues that the pace of future fiscal consolidation must not snuff out demand. Germany and others are pressing for another round of binding debt-cutting goals.


Backing in the communique for the use of domestic monetary policy to support economic recovery reflected the U.S. Federal Reserve's commitment to monetary stimulus through quantitative easing, or QE, to promote recovery and jobs.


QE entails large-scale bond buying -- $85 billion a month in the Fed's case -- that helps economic growth but creates money, much of which has leaked into emerging markets, threatening to destabilize them.


That was offset in the communique by a commitment to minimize "negative spillovers" of the resulting financial flows that emerging markets fear may pump up asset bubbles and ruin their export competitiveness.


"Major developed nations (should) pay attention to their monetary policy spillover," Vice Finance Minister Zhu Guangyao was quoted by state news agency Xinhua as saying in Moscow.


"Major developed countries' implementation of excessively relaxed currency policy has an influence on the world economy."


Russia, this year's chair of the G20, said the group had failed to reach agreement on medium-term budget deficit levels and also expressed concern about ultra-loose policies that it and other big emerging economies say could store up trouble for later.


Finance Minister Anton Siluanov said a rebalancing of global growth required more than an adjustment of exchange rates.


"Structural reforms in all countries, either with a positive or negative balance of payments, should play a bigger role," he said in an address to Saturday's talks.


The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since. At successive meetings, Germany has pressed the United States and others to do more to tackle their debts. Washington in turn has urged Berlin to do more to increase demand.


On currencies, the G20 text reiterated its commitment last November, "to move more rapidly toward mores market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments".


It said disorderly exchange rate movements and excess volatility in financial flows could harm economic and financial stability.


(Additional reporting by Gernot Heller, Lesley Wroughton, Maya Dyakina, Tetsushi Kajimoto, Jan Strupczewski, Lidia Kelly, Katya Golubkova, Jason Bush, Anirban Nag and Michael Martina. Writing by Douglas Busvine. Editing by Timothy Heritage/Mike Peacock)



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Wrestling president quits after Olympic omission


PHUKET, Thailand (AP) — The president of the international wrestling federation has quit in the wake of the IOC's decision to remove the sport from the 2020 Olympics.


Raphael Martinetti's resignation was announced Saturday at the FILA executive committee meeting in Phuket. The Swiss had been in the position since 2002.


On Tuesday, the executive board of the International Olympic Committee dumped wrestling from its guaranteed berth in future Summer games, forcing the sport to compete for a spot on the program.


U.S.A. Wrestling executive director Rich Bender said Martinetti's departure "provides international wrestling with an opportunity to change and improve," giving the sport a chance "to create a fresh new relationship" with the IOC.


Wrestling will still be on the program at the 2016 Olympics in Rio de Janeiro.


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What does Kim intend with nuclear test?






STORY HIGHLIGHTS


  • North Korea enjoys international community chatter about its nuclear program

  • Dates of nuclear test and rocket launch have significance, writes Joo Sung Ha

  • Joo works as a newspaper journalist and came from North Korea




Editor's note: Joo Sung Ha is a Seoul-based journalist for Donga Ilbo, a newspaper in South Korea. He graduated from North Korea's Kim Il Sung University and trained as a reservist artillery officer. He has been imprisoned in China and North Korea. This piece was submitted in Korean and has been translated.


(CNN) -- On Tuesday, the international community reacted to North Korea's third nuclear test by calling its action "provocative," while South Korea's foreign minister warned that it was a "clear threat to international peace and security."


It was what Kim Jong Un, the nation's young leader, wanted.


From the North Korean government's view, the more pressure the international community places on its nuclear testing, the better. They enjoy the chatter among the world's leaders and at the U.N. about how North Korea's nuclear program must be stopped at all cost.



Joo Sung Ha defected from North Korea and is a journalist based in Seoul.

Joo Sung Ha defected from North Korea and is a journalist based in Seoul.



On January 23, the North Korean foreign ministry notified that they intended to carry out a test. They also sent photos of Kim Jong Un holding a meeting with senior officials.


If Kim had not acted by going through with the underground blast, it would have appeared that he had succumbed to pressure from the international community. In North Korea the authority of the "king" in the dynasty system cannot be compromised.


The date of the nuclear test -- conducted on February 12 -- is also significant, as it fell just days short of the 71st birthday of Kim's late father, Kim Jong Il, on February 16. Many North Korean events are associated with symbolic dates for the Kim family. On December 12, just days before the first anniversary of Kim Jong II's death, Pyongyang launched its first rocket into orbit -- despite international uproar.










North Korea has staked its pride on these events. Saving face is more important than international sanctions, even if hundreds of thousands of ordinary North Koreans have died of hunger.


Even so, I cannot say the motivation behind North Korea's nuclear test is for Kim's pride alone. It also sends a message to its people that "Kim Jong Un leads the world."


Even with the nuclear test, the government knows that war will not arise. But to its people, it can give the impression that war is impending.


Inheriting his father's position at such a young age -- he's believed to be in his 20s -- many in North Korea may question whether Kim has the clout to lead. But through this test, Kim wanted to send a strong message domestically that he is in charge.


What happens if they do develop an effective nuclear weapon? Does North Korea intend to attack the United States? That is impossible. If North Korea attacks, it will be sent back to the Stone Ages -- the leadership in Pyongyang is well aware of that.


Does this point to an eventual attack on South Korea then? South Korea is protected by a nuclear umbrella -- meaning that the United States will protect it. In return for Seoul limiting its own nuclear weapons capability, Washington offers its protection. If North Korea attacks South Korea, it's effectively an attack on the United States.


Another major reason why North Korea is developing a nuclear capability is that its conventional military is dated and there are doubts about whether it can defend itself. While North Korea has an estimated 1.2 million soldiers, making it the third largest military behind China and United States, this is only a number.


It may be hard to believe but for almost 20 years, there have been continued food shortages in the military, to the extent that as many as 20% to 30% of the armed forces have actually disappeared -- with many deserting their post by way of a bribe to their superiors. Those that do remain in service are often involved in petty crime to get by, such as stealing from the civilian population.


North Korea requires military service for 10 years. During those years, most are discharged without even having fired 30 bullets. Without sufficient fuel for planes, airborne troops have not had much training. In 1990, I stood guard at a post in Pyongyang. The anti-aircraft weapon I used was a 1940s era model from the Soviet Union.


If war is to occur, North Korea could not stand, even for days, and it is well aware of that. But could it count on traditional ally, China, for support?


Starting from Kim Il Sung, the founder of North Korea, the North Korean regime has never fully trusted China. The message that China is a nation that could strike North Korea at the "back of the head" has been passed down over the years to Kim Jong Un, his grandson. Since North Korea cannot count on Beijing fully, it has turned to the nuclear option as a deterrent.


North Korea would not risk a pre-emptive attack on the South, but the Kim dynasty now believes it has a card to protect itself, which is its main objective. For this reason, even if millions of people starve to death in the effects of the harsh sanctions, North Korea will keep trying to develop its own nuclear capabilities.


The opinions expressed in this commentary are solely those of Joo Sung Ha.






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Eric Church leads line-up for country music awards






NASHVILLE, Tennessee (Reuters) – Singer-songwriter Eric Church grabbed the lead in one of the biggest events in country music on Wednesday with seven nominations for the Academy of Country Music Awards while country-pop darling Taylor Swift received five nods.


Church, 35, was nominated as Male Vocalist of the Year and received his second consecutive nod for Album of the Year, this time for his widely acclaimed 2011 album “Chief”, in the 48th annual Academy of Country Music Awards.






He was also nominated for Single Record and Song of the Year for “Springsteen”, which became his second No. 1 single last year, and for Video of the Year for “Creepin’”.


Newcomer Hunter Hayes, 21, garnered six nominations, including New Male Vocalist of the Year and Video of the Year for “Wanted.” Hunter is new to the country scene, having released his self-titled debut album last year.


Country music favorites Swift and Miranda Lambert, 29, whose hits include “The House That Built Me and “Over You,” received five nominations each.


Swift received her fourth consecutive nomination for Entertainer of the Year. If she wins, it will be the 23-year-old singer’s third consecutive claim to that title which is decided by country fans’ voting.


Swift is also nominated for the sixth time for Female Vocalist of the Year and for the fourth time for Video of the Year for “We Are Never Ever Getting Back Together.”


Swift was ranked last year by Forbes as the second top-earning woman in music after bringing in an estimated $ 58 million from her album, endorsements and a perfume in the past year. She was beaten to top slot by Britney Spears.


Lambert’s country singer husband Blake Shelton and Luke Bryan will co-host the annual award ceremony in Las Vegas on April 7. Shelton has hosted the show for the past three years.


(Reporting by Vernell Hackett, Editing by Belinda Goldsmith)


Music News Headlines – Yahoo! News





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Buffett, Brazil's 3G team up for $23 billion Heinz buyout


(Reuters) - Warren Buffett and Brazilian financier Jorge Paulo Lemann are teaming up to buy ketchup maker H.J. Heinz Co for $23.2 billion, in what could be the first step of a wave of mergers for the food and beverage industry.


Analysts and people close to the deal said Heinz could be a good starting point to consolidate similar staple food companies, particularly given the larger ambitions of Lemann's private equity firm 3G Capital.


Including debt assumption, Heinz valued the transaction, which it called the largest in its industry's history, at $28 billion. Buffett's Berkshire Hathaway and 3G will pay $72.50 per share, a 19 percent premium to the stock's previous all-time high.


Heinz shares initially rose slightly above the offer price, although Buffett cautioned he had no intention of raising his bid and the stock fell back below that mark by midday. The stock has been on a tear, almost doubling over the last four years, though analysts said the price seemed fair.


They also said the deal could be the first step in a broader wave of mergers for the food and beverage industry.


"Maybe for the consumer staples group in general this may start some talk about consolidation. Even corporate entities are flush with cash, interest rates are low, it would seemingly make sense," Edward Jones analyst Jack Russo said.


Companies like General Mills and Campbell Soup - itself long seen as a potential Heinz merge partner - rose on the news.


Any acquisition could help Heinz further diversify and broaden its international profile. It already dominates the ketchup business, with a nearly 26 percent share of the global market and a 59 percent share domestically, according to Euromonitor International.


The company actually generates the largest portion of its sales in Europe, though its traditional North American consumer products business is the most profitable.


But its real growth engine has been the Asia/Pacific region, where sales increased nearly 11 percent in the last fiscal year, in part on demand for sauces and infant foods in China.


BUFFETT HUNTING GROWTH


The surprise purchase satisfies, at least in part, Buffett's hunt for growth through acquisition. He was frustrated in 2012 by the collapse of at least two unnamed deals in excess of $20 billion and said he might have to do a $30 billion deal this year to help fuel Berkshire's growth engine.


In a regulatory filing late on Thursday, Berkshire said it was providing $12.12 billion in equity, including common stock, warrants and preferred shares with a liquidation preference of $8 billion and a 9 percent dividend.


Barclays Capital's Jay Gelb the deal's valuation appeared high at 19 times Heinz's expected 2014 earnings per share, but that it would enhance Berkshire's consumer portfolio.


Berkshire Hathaway already has a variety of food assets, including Dairy Queen ice cream chain, chocolatier See's Candies and food distributor McLane. Buffett, famed for a love of cheeseburgers, joked he was well acquainted with Heinz's products already and that this was "my kind of deal."


It does represent an unusual teaming of Berkshire with private equity, though; historically, Buffett's purchases have been outright his own. He and 3G founder Jorge Paulo Lemann have known each other for years, and Buffett said Lemann approached him with the Heinz idea in December.


One Berkshire investor said he had mixed feelings about the deal because of the limited growth prospects domestically.


"We're a little hesitant on the staple companies because they don't have any leverage in the United States," said Bill Smead, chief investment officer of Smead Capital Management in Seattle. But at the same time, he said, Buffett was likely willing to accept a bond-like steady return even if it was not necessarily a "home run."


A second investor, Michael Yoshikami of Destination Wealth Management in Walnut Creek, California, said he liked the purchase because it provided cash flow for other deals.


"This is a better use of cash than current money market instruments," said Yoshikami, the firm's CEO and chairman of its investment committee.


3G EXPANDS


For 3G, a little-known firm with Brazilian roots, the purchase is something of a natural complement to its investment in fast-food chain Burger King, which it acquired in late 2010 and in which it still holds a major stake.


Historically, 3G was more of an investor than an acquirer. Its biggest shareholdings include Delphi Automotive, Newell Rubbermaid and Anadarko Petroleum.


Lemann, a globe-trotting financier with Swiss roots, made his money in banking and gained notoriety for helping to pull together the deals that ultimately formed the beer brewing giant AB InBev. Forbes ranks him as the world's 69th-richest billionaire, with a fortune of $12 billion.


3G's Alex Behring runs the fund out of New York. He appeared at a Pittsburgh news conference on Thursday with Heinz management to discuss the deal - and to reassure anxious local crowds that the company will remain based there and will continue to support local philanthropy.


But at the same time, Behring said it was too soon to talk about cost cuts at the company. Unlike Berkshire, which is a hands-off operator, 3G is known for aggressively controlling costs at its operations.


PITTSBURGH ROOTS


Also to be determined is whether CEO Bill Johnson would stay on. Only the fifth chairman in the company's history, Johnson is widely credited with Heinz's recent strong growth.


"I am way too young to retire," he told the news conference, adding that discussions had not yet started with 3G over the details of Heinz's future management.


The company, known for its iconic ketchup bottles, Heinz 57 sauces as well as other brands including Ore-Ida frozen potatoes, has increased net sales for the last eight fiscal years in a row.


Heinz said the transaction would be financed with cash from Berkshire and 3G, debt rollover and debt financing from J.P. Morgan and Wells Fargo. Buffett told CNBC that Berkshire and 3G would be equal equity partners.


That would imply roughly $6 billion to $7 billion of new debt needs to be raised.


Heinz shares soared 19.9 percent, or $12.02, to $72.50 on the New York Stock Exchange.


A week ago the stock hit a long-term high of $61 a share - near records it set in 1998 - having risen almost 5 percent this year and nearly 12 percent since the beginning of 2012.


The Heinz Endowments, a pillar in Pennsylvania philanthropy, said the sale of the company would have virtually no impact on their work. Heinz shares represent just over 1 percent of the endowment's $1.4 billion in holdings.


The deal is also a potential boon for new U.S. Secretary of State John Kerry, whose wife, Teresa, is the widow of H.J. Heinz Co heir John Heinz. Kerry's most recent financial disclosures from his time in the U.S. Senate show a position in Heinz shares of more than $1 million, although the precise size is unclear.


Centerview Partners and BofA Merrill Lynch were financial advisers to Heinz, with Davis Polk & Wardwell LLP the legal adviser. Moelis & Company was financial adviser to the transaction committee of Heinz's board and Wachtell, Lipton, Rosen & Katz served as its legal adviser.


Lazard served as lead financial adviser. J.P. Morgan and Wells Fargo also served as financial advisers to the investment consortium. Kirkland & Ellis LLP was legal adviser to 3G Capital, and Munger, Tolles & Olson LLP was legal adviser to Berkshire Hathaway.


(Additional reporting by Olivia Oran and IFR's Stephen Carter in New York and Drew Singer in Pittsburgh; Editing by Maureen Bavdek and Leslie Gevirtz)



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Report: Jerry Buss hospitalized with cancer


LOS ANGELES (AP) — Lakers owner Jerry Buss has been hospitalized with cancer, the Los Angeles Times reported Thursday.


The 79-year-old Buss has spent time in the intensive care unit at Cedars-Sinai Medical Center, according to the Times, which quoted Buss' son, Jim, Thursday saying his father was "doing fine." Several current and former Lakers players, including Kobe Bryant and Magic Johnson, have visited Buss.


Team spokesman John Black said the team has no plans to comment on Buss' health out of respect for the family's wishes. Buss spokesman Bob Steiner said information would have to come from the Lakers.


"Dr. Jerry Buss, thinking about u & wish I could be there, get well soon," former Lakers center Shaquille O'Neal tweeted Thursday. "I cant wait 2 see u on 4/2/13 (hash)LoveYou."


The Lakers will retire O'Neal's No. 34 jersey on April 2.


Buss has been hospitalized several times in recent years, including a stint last July for dehydration. He was treated for blood clots in his legs in December 2011.


A former aerospace engineer and real-estate developer, Buss has been a prominent name in American sports since he bought the Lakers, the NHL's Los Angeles Kings and the Forum from Jack Kent Cooke in 1979. Buss immediately transformed the Lakers into the NBA's most glamorous franchise, winning 10 NBA championships under his watch.


The Lakers won five titles in nine years during the 1980s, earning a reputation as basketball's most exciting team with their glamorous Showtime style led by Kareem Abdul-Jabbar and Johnson, who was Buss' first draft pick. O'Neal and Kobe Bryant then led the Lakers to a threepeat from 2000-02 under coach Phil Jackson before Bryant and Pau Gasol won two more titles in 2009 and 2010.


Buss' children moved into leadership roles with the Lakers in recent years. Jim Buss, the Lakers' executive vice president of player personnel and the second of Buss' six children, has taken a leading role in basketball decisions, while daughter Jeanie plays a major role in running the franchise's business side.


Yet Jerry Buss was deeply involved the Lakers' most recent major moves, including the acquisitions of Steve Nash and Dwight Howard last summer, along with the firing of coach Mike Brown and the hiring of Mike D'Antoni early this season.


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Where's Obama's foreign policy?








By Isobel Coleman, Special to CNN


February 13, 2013 -- Updated 1653 GMT (0053 HKT)









STORY HIGHLIGHTS


  • Isobel Coleman: Obama mainly addressed domestic issues: economy, immigration, energy

  • He spoke very little about and offered nothing much new on foreign policy, she says

  • Coleman: He talked about ending Afghanistan War, spoke briefly about Iran, Syria, China

  • Coleman: His reinvigorated free trade agenda seems to be the boldest move




Editor's note: Isobel Coleman is the author of "Paradise Beneath Her Feet" and a senior fellow for U.S. foreign policy at the Council on Foreign Relations in New York.


(CNN) -- President Obama's State of the Union address predictably focused on his domestic priorities.


Immigration reform, a laundry list of economic initiatives including infrastructure improvements (Fix it First), clean energy, some manufacturing innovation, a bit of educational reform and the rhetorical high point of his speech -- gun control.



Isobel Coleman

Isobel Coleman



As in years past, foreign policy made up only about 15% of the speech, but even within that usual limited attention, Tuesday night's address pointed to few new directions.



On Afghanistan -- America's longest war -- Obama expressed just a continued commitment to bringing the troops home, ending "our war" while theirs continues. On Iran, there was a single sentence reiterating the need for a diplomatic solution, which makes me think that a big diplomatic push is not likely. On North Korea, boilerplate promises to isolate the country further after its provocative nuclear test, and on Syria, a call to "keep the pressure" on the regime, which means more watching from the sidelines as the horror unfolds.


Notably, China was mentioned only twice -- once in the context of jobs, and another time with respect to clean energy. Nothing about managing what could very well be this administration's most vexing but critically important bilateral relationship.


Obama's call for a reinvigorated free trade agenda was his boldest foreign policy statement of the evening. He is right to note that free trade "supports millions of good-paying American jobs," but his pledge to pursue a "comprehensive Transatlantic Trade and Investment Partnership" -- a free trade agreement with Europe -- will run into significant opposition from organized labor, especially given ongoing weaknesses in the economy.






Without fast track negotiating authority, the prospects for such a deal are minimal. Fast track authority, which allows the president to negotiate trade deals that Congress can then only approve or disapprove but not amend, expired in 2007, and it would require quite a breakthrough for Congress to approve it again. Still, despite these challenges, an agreement is worth pursuing.


Aside from a free trade agreement with Europe, there was little else in this State of the Union that hinted at foreign policy ambition. But unpredictable events have a way of derailing America's best laid plans to stay above the fray of the world's messiest problems. Who could have predicted just a few months ago that Mali would get a mention in the State of the Union? Iraq -- not uttered once tonight -- could re-emerge as a formidable crisis; Iran, Pakistan and North Korea also have tremendous potential to erupt.


While this administration seems determined to focus inward on getting America's economic and fiscal house in order, I doubt events in the rest of the world will be so accommodating.


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The opinions expressed in this commentary are solely those of Isobel Coleman











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