NewsNite - by NBPR BlogPort

Lead news for January 31st

2008-01-31T01:38:00.000-08:00

Blasts kills top Afghan official

The deputy governor of Afghanistan's Helmand province has been killed in a bomb attack on a mosque, officials say.

The attack in Helmand's provincial capital, Lashkar Gah, was caused by a suicide bomber, police said.

Deputy governor Haji Pir Mohammed was one of seven people - including the bomber - killed in the explosion, a local official told the AP news agency.

Helmand is a major stronghold of the Taleban, the Islamic hardline militia that formerly ruled the country.

Most of the 6,000 British troops serving as part of a Nato force in Afghanistan are also based in the south-western province.

Leading story for January 26th

2008-01-26T05:51:00.000-08:00

Democrats vote in South Carolina

Polls have opened in South Carolina for Democratic Party voters in the state to choose their party's candidate for this year's US presidential elections

Barack Obama has a comfortable lead in the opinion polls ahead of Hillary Clinton, with John Edwards third.
This is the final contest for the Democrats before Super Tuesday in 10 days' time, when more than 20 states will vote in primary contests.
Republicans are campaigning for their next contest in Florida on Tuesday.
In a televised debate at the start of this week, Hillary Clinton and Barack Obama, clashed over their records, with what the BBC's Kevin Connolly says was a touch of real nastiness.

Secondary stories for January 25th

2008-01-25T01:56:00.000-08:00

Rogue trader faces legal battle

Societe Generale has filed a legal complaint against the trader accused of defrauding the bank which led to a loss of 4.9bn euros ($7.1bn; £3.7bn).

While Societe Generale has yet to name the trader, media reports say he is 31-year-old Frenchman Jerome Kerviel.
SocGen's chairman Daniel Bouton called the fraud a "one-off" and denied it was a trading or risk-management fault.
But analysts say Mr Bouton's future looks uncertain after the bank's failure to detect the malpractice.
They also say that the losses have left the bank vulnerable to a takeover bid. (BBC)

Egypt sealing parts of border with Gaza

RAFAH, Gaza (CNN) -- Egyptian soldiers in riot gear formed a human chain Friday along parts of their county's border with Gaza, where tens of thousands of Palestinians have crossed back and forth with little interference for the last two days.

Other soldiers rolled barbed wire along parts of the border.
They acted two days after Palestinians blasted through concrete and metal walls at the Rafah border crossing, allowing tens of thousands of Palestinians to stream into Egypt to obtain supplies.
Palestinians in Gaza have faced difficulty obtaining supplies since Israel sealed its border with Gaza one week ago in an effort to quell rocket attacks from Gaza into Israel.

PC sales lift Microsoft's profits

Microsoft's profits for the key Christmas trading quarter have soared 79%, driven by strong computer sales and the success of its Xbox console.

The US giant's net profit for October to December 2007 was $4.7bn (£2.4bn), compared with $2.6bn a year earlier.
Its latest profit was ahead of analyst targets, but the rise is exaggerated by 2006's figure being reduced due to delays to the Vista software system.
Microsoft's revenues for the last quarter of 2007 grew 30% to $16.37bn. (CNN)

Bush and House in Accord for $150 Billion Stimulus

WASHINGTON — Hoping to give a quick adrenaline shot to the ailing economy, President Bush and House leaders struck a deal on Thursday for a $150 billion fiscal stimulus package, including rebates for most tax filers of up to $600 for individuals, $1,200 for couples and, for families, an additional $300 a child.

The deal capped a series of fast-paced and intense negotiations in which the Bush administration and lawmakers in both parties had to agree to numerous compromises after more than a year of acid relations between Congressional Democrats and the White House.
In praising the deal, Mr. Bush said it had resulted from “the kind of cooperation that some predicted was not possible here in Washington.”
The House is expected to approve the package on Feb. 6, and the leaders in both chambers have set a goal of Feb. 15 to send a measure for the president’s signature, a deadline Senate Democrats said they could meet even though they had reservations about the plan. (NYT)

Leading story for January 25th

2008-01-25T01:46:00.000-08:00

Wolfowitz Returns to U.S. Government as Adviser

Paul D. Wolfowitz, who resigned as World Bank chief after serving as second-in-command at the Pentagon, has returned to the Bush administration, albeit in an advisory role. From a short news release put out this afternoon:
The Department of State is pleased to announce the appointment of Dr. Paul Wolfowitz as the Chairman of the Secretary of State’s International Security Advisory Board.
As we said when the job offer was reported in December, the board meets quarterly to provide advice to the secretary of state and one of her deputies based on classified intelligence on some of the most important issues in United States foreign policy today, from Iran to North Korea. (NYT)

Secondary stories for January 24th

2008-01-24T06:30:00.000-08:00

Secrets of bird flight revealed

Scientists believe they could be a step closer to solving the mystery of how the first birds took to the air.

A study published in the journal Nature suggests that the key to understanding the evolution of bird flight is the angle at which a bird flaps its wings.
The US team found that birds move their wings at the same narrow angle, whether they run, fly or glide.
They conclude that early birds may have begun to fly by simply learning to flutter their wings at the right angle. (BBC)

Deal closer on US economic plan

The US government and Congress are close to agreeing a fast-track plan to boost the economy.

Democratic and Republican leaders in the House of Representatives and Treasury Secretary Henry Paulson had lengthy talks on Wednesday.
They might announce a $150bn (£75bn) package of tax rebates and other incentives as early as Thursday.
Reports said the measures would by-pass steps in the approval process and go straight to a congressional vote. (BBC)

Two Directors from Bulgaria's Road Agency Caught Red-Handed

Two head officials from Bulgaria's Republican Road Infrastructure Fund, which allocates money for highway construction projects, have been arrested with a bribe today. The two officials were detained in a special operation of the Sofia Police Department and the Prosecutor's Office while receiving BGN 25 000, the Bulgarian Darik Radio reported. This was the first half of a total sum of BGN 50 000 that the detainees demanded from a proprietor owning a plot near the route of the Hemus highway, which is under construction. (Novinite)

Rogue trader to cost SocGen $7bn

French bank Societe Generale says it has uncovered "massive" fraud by a Paris-based trader which resulted in a loss of 4.9bn euros ($7.1bn; £3.7bn).

The bank said the fraud was based on simple transactions, but concealed by "sophisticated and varied techniques".
It also announced fresh losses of 2.05bn euros related to the sub-prime mortgage crisis in the US.
The losses are four times greater than those made by Nick Leeson, the rogue trader who brought down Barings Bank.
The bank's shares, which were suspended in the morning, lost 3.6% when they resumed trading.

January 24th leading news

2008-01-24T06:14:00.000-08:00

New Bond film title is confirmed

The next James Bond film is to be called Quantum of Solace, producers have confirmed.

The title is taken from one of a collection of short stories published by 007 creator Ian Fleming in 1960.
The new film, which will see Daniel Craig reprise his role as the iconic British agent, will also feature Ukrainian actress Olga Kurylenko.
The next outing is the 22nd in the Bond franchise, and is partly being shot at Pinewood Studios in Buckinghamshire.
At a press conference at the facility, reporters were shown a minute of footage from the new film, including Bond swinging on a rope after an explosion at an art gallery in Siena, Italy.
Another scene showed him meeting M - played by Dame Judi Dench - outside in the snow.
Filming on the movie has been taking place at Pinewood since November.

Welcome to NewsNite

2008-01-24T00:22:00.000-08:00

NewsNite is a blog that will present you with the most important news of each day, in a short and fashionable manner. it will be a compendium of news gathered from various sources and will always be fresh.