Asian markets up on Fed stand, strong yen hits Tokyo






HONG KONG: Asian markets mostly rose on Wednesday after US Federal Reserve head Ben Bernanke reaffirmed the central bank's huge monetary easing scheme, but a stronger yen sent Tokyo lower.

Investors remained hesitant and the euro came under pressure after Italy's election results which left no party in overall control, raising concerns that uncertainty in Rome could see the eurozone return to the dark days of crisis.

Tokyo fell 0.78 per cent by noon but Hong Kong rose 0.44 per cent, Sydney added 0.64 per cent, Shanghai climbed 1.14 per cent and Seoul was 0.18 per cent higher.

In testimony to Congress Bernanke said the Fed's $85 billion a month bond-purchase programme aimed at holding down long-term interest rates and encouraging investment -- known as quantitative easing -- was still merited.

While warning that looming steep budget cuts could slow growth, he stressed high unemployment was a main challenge to the economy, adding that the risks of the programme -- inflation, and risky behaviour in the financial industry -- were being monitored closely.

Bernanke said the programme was "providing important support to the recovery".

His comments on Tuesday were a relief for financial markets, which stumbled last week after minutes from the Fed's latest policy meeting suggested some members wanted to curtail the policy before the economy was back in track.

"Bernanke confirmed the Fed's commitment to continue quantitative easing until unemployment falls, and US economic data are clearly improving," Martin Lakos, division director in Macquarie's Private Wealth division in Australia, told Dow Jones Newswires.

On Wall Street the Dow rose 0.84 per cent, the S&P 500 added 0.61 per cent and the Nasdaq jumped 0.43 per cent.

US investors also took comfort in surprisingly robust new home sales while the Conference Board's February consumer confidence index showed a surprise jump to 69.6 from 58.4 in January, well above the average analyst estimate of 62.0.

But the dollar fell against the yen in Asia as dealers sought the safe havens after the inconclusive Italian elections.

The dollar bought 91.70 yen in Tokyo Wednesday, from 91.93 yen in New York late Tuesday and well off the 94.77 yen high seen on Monday.

The euro slipped to $1.3043 and 119.60 yen from $1.3061 and 120.08 yen.

Eurozone fears have been reignited after the Italian polls, which left the country with a hung parliament and a protest party effectively holding the balance of power.

Investors fear the outcome will mean Italy will reverse the austerity policies put in place to pay off its debts, with implications for the wider region.

Italian leftist leader Pier Luigi Bersani, who said he had "come first but not won", warned that the huge anti-austerity protest vote should be heeded beyond Italy's borders, adding: "The bell tolls also for Europe."

Oil prices were mixed, with New York's main contract, light sweet crude for delivery in April, shedding two cents to $92.61 while Brent North Sea crude for April delivery gained three cents to $112.74.

Gold was at $1,612.40 at 0220 GMT compared with $1,597.80 late Tuesday.

- AFP/ck



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No need to be ashamed of House attack: Afzal Guru's letter

NEW DELHI: Parliament attack convict Mohammad Afzal Guru had in a letter purportedly written by him over four years ago said that there was no need to be ashamed of the December 13 attack on Parliament, but had stopped short of owning any responsibility for it.

In the letter written to editor of a local Urdu weekly, Guru, asked Hizbul Mujahideen chief Syed Salahuddin not to be "ashamed of December 13" and stop terming the attack as a "conspiracy".

Editor of the Urdu weekly Shabnum Qayoom said that he has been receiving Guru's letters and articles and is sure that this letter was written by him. "I used to receive his (Guru's) letters and articles, so this was nothing new. The handwriting is the same as the previous letters and articles" he said.

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A History of Balloon Crashes


A hot-air balloon exploded in Egypt yesterday as it carried 19 people over ancient ruins near Luxor. The cause is believed to be a torn gas hose. In Egypt as in many other countries, balloon rides are a popular way to sightsee. (Read about unmanned flight in National Geographic magazine.)

The sport of hot-air ballooning dates to 1783, when a French balloon took to the skies with a sheep, a rooster, and a duck. Apparently, they landed safely. But throughout the history of the sport, there have been tragedies like the one in Egypt. (See pictures of personal-flight technology.)

1785: Pioneering balloonist Jean-Francois Pilatre de Rozier and pilot Pierre Romain died when their balloon caught fire, possibly from a stray spark, and crashed during an attempt to cross the English Channel. They were the first to die in a balloon crash.

1923: Five balloonists participating in the Gordon Bennett Cup, a multi-day race that dates to 1906, were killed when lightning struck their balloons.

1924: Meteorologist C. LeRoy Meisinger and U.S. Army balloonist James T. Neely died after a lightning strike. They had set off from Scott Field in Illinois during a storm to study air pressure. Popular Mechanics dubbed them "martyrs of science."

1995: Tragedy strikes the Gordon Bennett Cup again. Belarusian forces shot down one of three balloons that drifted into their airspace from Poland. The two Americans on board died. The other balloonists were detained and fined for entering Belarus without a visa. (Read about modern explorers who take to the skies.)

1989: Two hot air balloons collided during a sightseeing trip near Alice Springs, Australia. One balloon crashed to the ground killing all 13 people on board. The pilot of the other balloon was sentenced to a two-year prison term for "committing a dangerous act." Until today, this was considered the most deadly balloon accident.

2012: A balloon hit a power line and caught fire in New Zealand, killing all 11 on board. Investigators later determined that the pilot was not licensed to fly and had not taken  proper safety measures during the crash, like triggering the balloon's parachute and deflation system.

2012: A sightseeing balloon carrying 32 people crashed and caught fire during a thunderstorm in the Ljubljana Marshes in Slovenia. Six died; many other passengers were injured.


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Inside Organized Retail Crime Raids












We used to call it shoplifting, but these days the foot soldiers of retail crime rings are known as boosters. Police even have an acronym for these operations: ORC, which stands for Organized Retail Crime.


"It's just like a Fortune 500 company," said Sergeant Eric Lee of the Gardena Police Department in Gardena, Calif. "All of this is just organized."


Watch the full story on "Nightline" TONIGHT at 12:35 a.m. ET


Police say big retail stores, from Walgreens to J.C. Penny, are getting hit by highly sophisticated shoplifting networks that steal and resell everything from underwear to razors to milk. According to the National Retail Federation, theft can amount to annual losses as high as a $37 billion for retail businesses.


"Every store in every city has to go through this," Lee said. "They wait until no one's paying attention and they walk out."


Tide detergent is currently a hot target because it is compact, expensive and easy to sell on the streets for profit, police said. The Street name: "liquid gold."


"Sometimes we get rings that just do alcohol," Lee said. "And then we get some that do just meat and seafood."


Investigators say boosters move the loot for cents on the dollar to fencing operations -- the black market resellers of the stolen goods -- which sell the stolen merchandise in plain sight in stores. Boosters, fencers, Mr. Bigs, all of those involved in these shoplifting operations can potentially make millions a year from boosting and re-selling stolen goods.








Craigslist Crackdown: Cops Go After Thieves Watch Video











Alleged Underage Prostitution in Philippines Watch Video





And Mike Swett is on the case. A former Riverside County sheriff's deputy in Los Angeles, Swett was badly injured in a car wreck and now works as a full-time private investigator on the ORC beat who has worked with Target, Marshalls, T.J. Maxx. Stores hire him to do his own undercover police work, catching thieves before involving local law enforcement.


"Kind of like working a narcotics case, it's like you've got low-level, mid-level and then top dog," Swett said. "We like to go after the top dog and the only way to get to the top dog is mid-level first."


At his command center -- his apartment -- Swett showed off the boxes upon boxes of tapes and photographs he has collected, the fruits of countless silent stake-out hours.


Swett said he has been casing two joints in L.A. for months, both alleged to be mid-level fencing operations. "Nightline" was invited to ride along with him when he sent undercover agents in for a final reconnaissance mission.


At some stores and shopping malls, clerks do little to stop shoplifters and often let them run, which has contributed to the growing fencing operations.


"[The stores] don't want their employees to get injured," Swett said. "So oftentimes they will call the police, but by the time we get there they are already in their car and they are gone."


This leaves professional investigators like Swett to put the pieces together and bust open the gangs to lead over-stretched police departments to the prey.


When raid day arrived, a motorcade of squad cars departed from the Gardena, Calif., police department and pulled up to one fencing operation. Swett said the merchandise being sold was boosted goods.


"There is Victoria's Secret, expensive Victoria's Secret, the gift sets," he said, pointing down a line of tables. "J.C. Penny, Miramax, its real stuff not counterfeit."


He spotted a bottle of Katy Perry brand perfume, which usually retails for around $90 but one seller had it priced at $59.






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Sequestration doesn’t fly



Here’s what might be the most powerful incentive yet for members of Congress to come up with a deal to avert the sequester: The head of the Air Force warned Monday that the spending cuts that will go into effect March 1 could cause the military to eliminate those lovely miljet flights that lawmakers enjoy.


Members of Congress adore flying on Air Force jets, particularly for overseas trips — there are no security lines, check-in is a breeze, the service couldn’t be better, and all seats are business-class.

But if the government-wide cuts aren’t thwarted and the military has to pinch pennies, lawmakers might have to kiss those perks goodbye, Air Force Secretary Michael Donley told the crowd at the Air Force Association’s winter conference in Orlando, according to a transcript. They might have to nix “interagency and congressional senior leader travel,” he warned.

Lawmakers flying commercial? The horror.

And if members of Congress are forced into such dire circumstances, they’re in for even more delays. Transportation Secretary Ray LaHood
cautioned Friday that the sequester could cause major backups in airports around the country.

So much for all those fact-finding trips.


The House divided?

It may not have snagged the Oscar for best picture, but the movie “Lincoln” is still a smash hit in official Washington.

LaHood suggested last week that the flick about the 16th president could offer a template for averting the sequester.

“Go and see ‘Lincoln,’ ” the transportation secretary advised Republicans during an appearance at a White House press briefing during which he outlined the impact of the budget cuts (think airport delays, angry passengers calling lawmakers, etc.).

He indicated that congressional negotiators should learn from Honest Abe, who “gathered people around him” to negotiate and solve tough problems.

Not that the sequester can be equated with, you know, the potential dissolution of the Union, but still . . .

Maybe if the White House offered to buy the popcorn?


Something in the airwaves

Speculation has long been swirling around who might replace Federal Communications Commission Chairman
Julius Genachowski
. But hold the phone — all that sturm and drang may be for naught.

It appears he’s staying put for a bit.

Yes, technically, Genachowski’s term expires June 30. But by law, he can remain until Congress leaves town at the end of 2014. Other signs that he’s sticking around include a planned appearance at the National Association of Broadcasters conference in April, and his continued interest in the FCC’s plan to buy back television licenses and auction the spectrum to wireless providers, something we’re told Genachowski feels ownership of.

The White House is plenty busy filling all the actual vacancies that have cropped up in President Obama’s second term (starting with seven Cabinet or Cabinet-rank jobs), so finding a replacement for Genachowski apparently isn’t high on the to-do list.

For his part, Genachowski has deflected questions about when he might step down.

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UN calls for independent inquiry into Palestinian death






UNITED NATIONS: The United Nations called Monday for an independent inquiry into the death of a Palestinian in Israeli custody, warning that mounting tensions risk an eruption of violence in the occupied territories.

The Palestinians also demanded an independent investigation in a letter to the UN Security Council, which said that Arafat Jaradat, who died at the weekend, could have been tortured.

UN Middle East peace envoy Robert Serry made the call for an investigation in a statement after talks with Palestinian prime minister Salam Fayyad on the Jaradat's death.

Serry noted that Israeli and Palestinian experts had examined the body.

"The United Nations expects the autopsy to be followed by an independent and transparent investigation into the circumstances of Mr Jaradat's death, the results of which should be made public as soon as possible," the envoy added.

Jaradat was detained on February 18 and died five days later.

Israeli prison authorities said Jaradat appeared to have died of a heart attack. But the Palestinian minister of prisoner affairs, Issa Qaraqaa, citing the preliminary findings of the joint autopsy, reported bruises on Jaradat's body, muscle damage and broken ribs.

A letter sent by Palestinian UN ambassador Riyad Mansour to the Security Council said the autopsy revealed that Jaradat "was subjected to severe beatings, abuse and medical negligence during his captivity, possibly amounting to torture."

The letter said Jaradat had six broken bones in his neck, spine, arms and legs, along with other injuries.

Israel has said the prisoner could have suffered broken bones in attempts to resuscitate him after the heart attack.

"This horrific incident is further proof of the inhumane treatment systematically meted out by Israel against Palestinians in its jails," added the letter, which called for an "impartial investigation" and Security Council action to make Israel abide by humanitarian law.

Thousands attended the Jaradat's West Bank funeral on Monday and some militants have threatened revenge for his death.

Serry's statement said "mounting tensions present a real risk of destabilisation".

UN leader Ban Ki-moon expressed concern last week about the deteriorating state of Palestinian hunger strikers in Israeli jails and said that the rights of all Palestinian detainees must be fully respected.

-AFP/sb



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Isro does it again, 7 SATS in orbit

A five-minute delay to pre-empt an encounter withdebrisdid not dampen the spirit at Sriharikota on Monday as the satellite launch vehicle PSLV-C20 took to the skies to catapult seven satellites into orbit,including Indo-Frenchsatellite SARAL.

While initially the control room at Sriharikota was bristling with activity, a deadsilence prevailed as launch time drew close. While initially the launch time was slated for 5.56pm, the PSLV, dubbed workhorse of the Indian Space Research Organisation, took off at 6.01pm after Isro officials got wind of some debris, close to three hours before the scheduled lift-off time.

Five minutes is a significant amountof timeduring a launch since any object in space at above 500km moves at 8km per second. The delay ensured that the rocket reached the altitude after thedebrishad moved away.

Besides the Indo-French satellite with ARgos and ALtika (SARAL), India's Polar Satellite Launch Vehicle (PSLV-C20), on its 23rd flight, also launched six commercial payloads from Austria, Britain, Canada and Denmark into a 785km polar sun synchronous orbit.

With seven satellites in total, this is the second highest number of satellites to be flown on a PSLV. In April 2008, it put in orbit 10 satellites, including the national Cartosat-2A, on the PSLV-C9 rocket.

The 668.5kg 44.4-metre tall rocket, with a lift-off mass of 229.7 tonnes, has been configured in a 'core-alone' format without solid strap-on motors. According to officials this is the ninthcore-aloneflightof a PSLV.

The PSLV put the 407-kg Indo-French satellite with ARgos and ALtika (SARAL) into orbit in 1077-72 seconds. SARAL will help study ocean surface and the environment using the two devices — ARgos and the ALtika. The French ALtika altimeter works on the principle of RADAR,emitting microwave pulse and picking up signals that bounce back. The time taken for the signal to return provides the distance between satellite and the sea. "This way we'll be able to measure the height of the waves and assess changes in the ocean,"said an Isro official.

Of the six smaller satellites, two each are from Canada and Austria and one each from the U K and Denmark. This includes NEOSSAT from Canada which will detect and track either near-earth asteroids or satellites in geostationary orbit.

President Pranab Mukherjee, who witnessed the launch, hailed Isro for its track record and wished the team success in its future ventures.

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Sharks Warn Off Predators By Wielding Light Sabers


Diminutive deep-sea sharks illuminate spines on their backs like light sabers to warn potential predators that they could get a sharp mouthful, a new study suggests.

Paradoxically, the sharks seem to produce light both to hide and to be conspicuous—a first in the world of glowing sharks. (See photos of other sea creatures that glow.)

"Three years ago we showed that velvet belly lanternsharks [(Etmopterus spinax)] are using counter-illumination," said lead study author Julien Claes, a biologist from Belgium's Catholic University of Louvain, by email.

In counter-illumination, the lanternsharks, like many deep-sea animals, light up their undersides in order to disguise their silhouette when seen from below. Brighter bellies blend in with the light filtering down from the surface. (Related: "Glowing Pygmy Shark Lights Up to Fade Away.")

Fishing the 2-foot-long (60-centimeter-long) lanternsharks up from Norwegian fjords and placing them in darkened aquarium tanks, the researchers noticed that not only do the sharks' bellies glow, but they also had glowing regions on their backs.

The sharks have two rows of light-emitting cells, called photophores, on either side of a fearsome spine on the front edges of their two dorsal fins.

Study co-author Jérôme Mallefet explained how handling the sharks and encountering their aggressive behavior hinted at the role these radiant spines play.

"Sometimes they flip around and try to hit you with their spines," said Mallefet, also from Belgium's Catholic University of Louvain. "So we thought maybe they are showing their weapon in the dark depths."

To investigate this idea, the authors analyzed the structure of the lanternshark spines and found that they were more translucent than other shark spines.

This allowed the spines to transmit around 10 percent of the light from the glowing photophores, the study said.

For Predators' Eyes Only

Based on the eyesight of various deep-sea animals, the researchers estimated that the sharks' glowing spines were visible from several meters away to predators that include harbor seals (Phoca vitulina), harbor porpoises (Phocoena phocoena), and blackmouth catsharks (Galeus melastomus).

"The spine-associated bioluminescence has all the characteristics to play the right role as a warning sign," said Mallefet.

"It's a magnificent way to say 'hello, here I am, but beware I have spines,'" he added.

But these luminous warning signals wouldn't impede the sharks' pursuit of their favorite prey, Mueller's bristle-mouth fish (Maurolicus muelleri), the study suggested. These fish have poorer vision than the sharks' predators and may only spot the sharks' dorsal illuminations at much closer range.

For now, it remains a mystery how the sharks create and control the lights on their backs. The glowing dorsal fins could respond to the same hormones that control the belly lights, suggested Mallefet, but other factors may also be involved.

"MacGyver" of Bioluminescence

Several other species use bioluminescence as a warning signal, including marine snails (Hinea brasiliana), glowworms (Lampyris noctiluca) and millipedes (Motyxia spp.).

Edith Widder, a marinebiologist from the Ocean Research and Conservation Association who was not involved in the current study, previously discovered a jellyfish whose bioluminescence rubs off on attackers that get too close.

"It's like paint packages in money bags at banks," she explained.

"Any animal that was foolish enough to go after it," she added "gets smeared all over with glowing particles that make it easy prey for its predators."

Widder also points out that glowing deep-sea animals often put their abilities to diverse uses. (Watch: "Why Deep-Sea Creatures Glow.")

"There are many examples of animals using bioluminescence for a whole range of different functions," she said.

Mallefet agrees, joking that these sharks are the "MacGyver of bioluminescence."

"Just give light to this shark species and it will use it in any possible way."

And while Widder doesn't discount the warning signal theory, "another possibility would be that it could be to attract a mate."

Lead author Julien Claes added by email, "I also discovered during my PhD thesis that velvet belly lanternsharks have glowing organs on their sexual parts."

And that, he admits, "makes it very easy, even for a human, to distinguish male and female of this species in the dark!"

The glowing shark study appeared online in the February 21 edition of Scientific Reports.


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Americans Targeted for Allegedly Running Underage Prostitution in Philippines












Arthur Benjamin is sitting at the edge of a small stage, wearing a lavender Hawaiian shirt and nursing a bottle of San Miguel Light beer. The 6-foot-6 mustachioed Texan lazily watches the half dozen or so girls dancing rather unenergetically around the stage's pole.


"I forgot your gift again, it's in the car," Benjamin says to one of the girls on stage, shouting above the pop music blaring from the speaker system.


The small, dingy bar, which Benjamin says he owns, is called Crow Bar. It's in a rundown part of the picturesque Subic Bay in the western Philippines, about a three hour drive from the capital, Manila. Home for 50 years to a United States naval base, Subic Bay has become synonymous with foreigners looking for sex in the long string of bars that line the main road along the coast.


Watch the full story on "Nightline" TONIGHT at 12:35 a.m. ET


The bars in this area are often packed with older foreign men ogling the young Filipina women available for the night for a "bar fine" of around 1,500 Filipino pesos, or just over $35. Many of the bars are owned and operated by Americans, often former military servicemen who either served on the base or whose ships docked here until the base was shuttered under political pressure in 1992.










Most of the prostitutes working in the bars are indeed 18 or older. But in the Philippines, just a small scratch to the surface can reveal a layer of young, underage girls who have mostly come from impoverished rural provinces to sell their bodies to help support their families.


Benjamin, 49, is, according to his own statements, one of the countless foreigners who has moved beyond just having sex with underage girls to owning and operating a bar where girls in scantily-clad outfits flaunt their bodies for patrons.


"My wife recently found out that I have this place," he tells an ABC News "Nightline" team, unaware they are journalists and recording the conversation on tiny hidden cameras disguised as shirt buttons.


Benjamin said that a "disgruntled waitress" had written his wife on Facebook, detailing his activities in Subic Bay.


"She sent her this thing saying that I have underage girls who stayed with me, that I [have anal sex with them], I own a bar, I've got other girls that I'm putting through high school, all this other crap," he said.


"All of which is true," he laughed. "However, I have to deny."


He sends a text message summoning his current girlfriend, a petite dark-skinned girl called Jade, who he said is just 16 years old. Benjamin says he bought the bar for her about a year ago and while most still call it Crow Bar, he officially re-named it with her last name.


"She needed a place to stay, I needed a place to do her. I bought a bar for her," he says, explaining that she lives in a house out back by the beach.


"You're not going to find anything like this in the States, not as a guy my age," he said as he looked down at Jade. "Ain't going to happen."


Benjamin is the latest target of Father Shay Cullen, a Catholic priest with a thick Irish brogue and fluency in the local language, Tagalog. Through his non-profit center called Preda, he's been crusading against underage sex trafficking in the Philippines for 40 years.




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Legislative branch prepares for spending cuts



Congressional offices and agencies have remained largely quiet on the issue compared with the executive branch, where top officials — from President Obama to Cabinet members such as Transportation Secretary Ray LaHood and Defense Secretary Leon E. Panetta — have warned against the budget cuts known as sequestration, in speeches and with testimonies before congressional committees.


But that doesn’t mean the legislative branch would escape cuts.

The sequester would not affect lawmaker salaries, since their pay does not come from discretionary spending. But the reductions would hit their individual offices, as well as all legislative-branch agencies such as the Library of Congress, the Congressional Budget Office and U.S. Capitol Police.

Agencies that have sent letters to employees have noted similar strategies: imposing hiring freezes, reducing travel expenses, trimming funding for technology upgrades and reworking some contracts.

Furloughs stand out as one of the greatest concerns among federal workers, because they mean less pay for the year and fewer days for employees to do their jobs.

Some congressional agencies have said they expect to avoid unpaid leave if the sequester happens, while others have said they may resort to the measure for a few days.

The Government Accountability Office told employees in a memo last week that furloughs probably wouldn’t be necessary for the agency, based on the latest estimates for a reduction target.

“We have been allocating our funds since the start of the fiscal year in a very conservative manner, recognizing that sequestration might go into effect,” Comptroller General Gene L. Dodaro said in the memo.

“We project that we would no longer require furloughs at GAO this year to absorb the potential reduction associated with sequestration,” Dodaro added.

Likewise, a spokesman for the Architect of the Capitol said in an e-mail last week that the organization doesn’t think furloughs will be necessary to meet the reduction target.

What remains to be seen is just what the reduction targets would be. The latest estimate from the White House budget office said the sequester would require across-the-board cuts of “roughly 5 percent for non-Defense programs.”

The Congressional Budget Office calculated 5.3 percent for the same category.

Even based on those estimates, some legislative agencies don’t think they can avoid furloughs under the sequester.

The Library of Congress last week warned its employees that the cuts would probably require four days of unpaid leave, with individual workers scheduling one of those days in coordination with supervisors, while the other three would come during library closings at times when the facilities would normally be open.

The Government Printing Office wasn’t so specific, saying by e-mail that “furloughs may also have to be implemented” in addition to plans for a hiring freeze, limits on overtime and reductions in travel and training.

Although the sequester could have an impact on lawmakers’ local and Capitol Hill offices, it remains unclear how many members of Congress would impose layoffs, furloughs or pay cuts to meet the reduction targets. Only those who expect to avoid such measures commented for this report.

Rep. Tom Cole (R-Okla.) said his office prepared for the sequester during the past year by stopping pay raises, reducing travel, eliminating its staff retreat and cutting back on mailings — resorting to more cost-effective digital communications instead.

“We’ve kept awfully lean this year just on the assumption that this might happen,” Cole said. “We’ll make the adjustments, but we won’t have to furlough and we won’t reduce services in terms of case work or answering constituent questions.”

The automatic cuts were established with the intent that they would be so undesirable that lawmakers would be motivated to reach a budget compromise. But with the cuts days away and Democrats and Republicans as far apart as ever, observers say the reductions appear to be inevitable.

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