Oil, copper, Asian shares gain on solid China trade data

TOKYO (Reuters) - Oil, copper and Asian shares rose on Friday after China's strong trade data set the scene for economic recovery, although investors opted to book profits before next week's Chinese new year holidays, limiting gains.


European markets are seen climbing, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up around 0.5 percent. A 0.2 percent drop in U.S. stock futures pointed to a steady Wall Street start. <.l><.eu><.n/>


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent, wiping earlier losses as bearish sentiment was carried over overnight after European Central Bank President Mario Draghi noted risks still facing the euro zone economy.


The pan-Asian index rose to a 18-month high on Monday. After starting 2013 with a 2.4 percent weekly gain, the index has consolidated in a range between a 0.8 percent rise and a 0.8 percent fall, and looked set for a weekly loss of 0.6 percent.


China said its exports grew 25.0 percent in January from a year ago, the strongest showing since April 2011 and well ahead of market expectations for a 17 percent rise, while imports also beat forecasts, surging 28.8 percent on the year.


"China's economic conditions are improving and the trade data confirms the continuation of a recovery trend. Not just the trade data but retail, production and investment flows clearly show that the economy bottomed out in the third quarter last year," said Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo.


Australian shares rallied 0.7 percent to 34-month highs, led by financial and mining stocks. South Korean shares <.ks11> jumped 1 percent, on track to reverse six losing sessions as investors bought up battered shares after recent declines.


Japan's Nikkei stock average <.n225> snapped a 12-week winning streak to close down 1.8 percent as investors took profits from the index's surge to its highest level since October 2008 on Wednesday. Japanese markets will be closed on Monday for a public holiday. <.t/>


"Asian markets are undergoing a pre-holiday adjustment, keeping prices top-heavy, with many opting to book profits. Prices have gained sharply over the past months, so a correction is healthy. But the upward trend in Asian equities markets remains intact," Daiwa's Yuihama said.


Chinese markets are closed next week for the Lunar New Year holiday, while Hong Kong will resume trading on Thursday.


EURO STEADIES


The euro steadied at $1.3397, after slumping to a two-week low of $1.33705 on Thursday as investors took Draghi's comments as signaling concerns about the euro and Europe's growth outlook. The euro scaled a 14-1/2-month high of $1.3711 last week.


Draghi said the ECB will monitor the economic impact of a strengthening euro, feeding expectations the currency's climb could open the door to an interest rate cut. But he also said the euro's appreciation suggested confidence in the currency was returning.


Spain has already secured more than 18 percent of its full-year medium- and long-term funding target, thanks to strong investor demand as worries about Madrid's financing ability eased.


"Currencies are increasingly becoming part of the policy debate...In the case of the EUR, we believe that the bullish 'overshooting' trend will remain intact as ECB policy continues to promote an asset market friendly environment," Morgan Stanley said in a note.


It added that anticipation of the Bank of Japan's expected bolder easing steps is set to keep the weak yen trend going, supporting global risk appetite.


The dollar fell 0.4 percent to 93.25 yen but not far from 94.075 yen, its highest since May 2010 on Wednesday. The euro eased 0.4 percent to 124.93 yen, after touching its strongest since April 2010 of 127.71 on Wednesday.


Friday's data showing Japan logged a current account deficit for a second straight month in December for its smallest annual surplus on record - evidence of deteriorating trade balances, which support the case for yen selling.


"Japan will remain a nation of current account surpluses but the surplus will not be as high as it used to be," said Takeshi Minami, chief economist at Norinchukin Research Institute in Tokyo.


Upbeat economic reports from China, the world's top consumer of raw materials, lifted industrial commodities on a more robust demand outlook.


London copper rose for the first time in four sessions, up 0.6 percent to $8,245 a metric ton (1.1023 tons).


Brent futures rose towards $118 per barrel, heading for a fourth weekly gain and U.S. crude futures rose 0.3 percent to $96.10.


"The (China) numbers are stronger than expected, which is an encouraging sign," said Ric Spooner, chief market analyst at CMC Markets in Sydney. "(But) we will need to wait until March to start getting a better sense of the medium-term trend on China."


Spot gold regained its footing and traded up 0.1 percent at $1,671.80 an ounce after falling on Thursday as the euro weakened. Industrial metals, platinum and palladium, retreated from 17-month highs.


(Additional reporting by Ramya Venugopal in Singapore; Editing by Eric Meijer)



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Illini buzzer-beater upsets No. 1 Hoosiers, 74-72


CHAMPAIGN, Ill. (AP) — Tyler Griffey made the easiest and biggest shot of his career.


The senior forward took an inbounds pass and made a wide-open layup with 0.9 seconds to play to give Illinois a 74-72 victory over No. 1 Indiana on Thursday night, the fifth straight week the nation's top-ranked team lost.


Hoosiers coach Tom Crean, whose team has been No. 1 for a total of seven weeks this season, doesn't have a reason for the recent weekly changes on top of the poll.


"I can't answer that. I'm not sure," Crean said. "I just know that these games are 40-minute games. We played at a high level for most of the game."


The Hoosiers were in charge until the final 3 1-2 minutes when the Illini (16-8, 3-7 Big Ten) finally put together a run to take and then retake the lead.


"I know this, when we turn the ball over we're not very good," Crean said. "And the biggest difference tonight was 28 points off turnovers to our 16."


And nothing could have been worse for the Hoosiers (20-3, 8-2) than the way the game ended.


With 0.9 seconds left Griffey left defenders Cody Zeller and Christian Watford behind on an inbounds play from the baseline, took the pass from Brandon Paul and delivered the uncontested buzzer-beater for the Illini.


The shot sent hundreds of students onto the court — holding their collective breath as officials checked the replay to make sure the clock hadn't beaten Griffey — and Paul and fellow guard D.J. Richardson hugged and teared up with relief.


Illinois had lost eight of 11 since starting the season 12-0. The Illini had been ranked as high as No. 10 and were now falling to the bottom of the Big Ten.


Griffey, accustomed to struggling in recent weeks, seemed surprised with the ease he was able to make the game-winner.


"I just made a simple curl cut and left two guys behind me, and Brandon got off a heck of a pass," he said. "Zeller and Watford were both right in front of me and just kind of stayed there."


Crean, whose team just moved into the No. 1 spot after knocking off then-No. 1 Michigan on Saturday, said the play was a lot like the other breakdowns in the Hoosiers' game that let Illinois climb back from a 12-point halftime deficit.


"We didn't communicate," Crean said.


"They're very deserving of the win, they never gave in," he added, but he qualified that with, "We didn't put them away when we had the opportunities."


Indiana's loss drops them into a three-way tie for first in the Big Ten with Michigan and Michigan State. For the Illini, the win means a move out of 10th in the 12-team conference up into a ninth-place tie with Iowa.


More importantly, it's a potential lifeline for an Illini team that still has to face No. 18 Minnesota on the road Sunday and had been watching its season slip away.


"It was good to get back to having that toughness and togetherness and trust that we needed," Illinois coach John Groce said.


Illinois hadn't beaten a No. 1 team since a 2004 win over Wake Forest. But the Illini had won nine of the last 10 against the Hoosiers in Champaign. And this season, whatever else has gone wrong, Illinois has delivered against the big boys. Coming into Thursday night the Illini had already beaten three teams now in the top 15: No. 6 Gonzaga, No. 10 Ohio State and No. 14 Butler.


Richardson had 23 points for Illinois, Paul had 21 and Griffey finished with 14 points and eight rebounds.


Zeller led Indiana with 14 points, while Will Sheehey had 13, Watford 12 and Jordan Hulls 11.


Indiana shot 50 percent from the field (25 of 50), 52.9 percent from 3-point range (9 of 17) and 93 percent from the free throw line (13 of 14). The Hoosiers led by an 8- to 10-point margin for most of the second half.


And when 6-foot-11 Nnanna Egwu fouled out with just under 5 minutes to play, Indiana looked in control. Egwu is the only Illini player with the size to realistically match up with the 7-0 Zeller.


Watford made two free throws after Egwu's fifth foul and, at 69-59, the Illini looked done.


But with the clock under 3 minutes, Richardson went on a run of his own, first burying consecutive 3-pointers and then hitting a midrange jumper on the run to tie the game at 70 with 1:17 to play.


Oladipo's layup put the Hoosiers back on top with 50 seconds left, but Paul answered with two free throws, the first banked in, to tie the score again at 72.


With the clock under 30 seconds, Indiana had the ball for what would have been a last shot but Oladipo fumbled the ball. Richardson picked it up and sprinted down court. Oladipo slapped Richardson's layup out of bounds to set up the final play.


Groce credited Richardson for sparking the comeback.


"I thought he was absolutely terrific on both ends of the floor," Groce said. "He battled, he fought."


Griffey was benched several weeks ago after a blowout loss at Wisconsin. On a team that had lost its shooting touch, the senior forward had grown especially cold. And, though one of Illinois' bigger players at 6-9, he wasn't adding much to the inside presence the Illini desperately needed.


The play that brought him to life Thursday, though, had nothing to do with Illinois' late surge. Griffey hit a 3-pointer less than 4 minutes into the second half. He had missed 20 straight 3-point attempts, dating to the start of the Big Ten season.


"I said to myself, 'Finally,'" said Griffey, who said he has been doing so much extra shooting that he's had to have regular ice treatments on his wrist.


Groce said that, even after he benched Griffey, he never gave up on him.


"I just have told him numerous times here I believe in him," the first-year Illinois coach said. "I do."


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Why I dread Chinese New Year




Kids see Chinese New Year through rose-tinted glasses.




STORY HIGHLIGHTS


  • Zoe Li: As an adult, Chinese New Year is an annual nightmare

  • It's a time when relatives have the right to be judgmental

  • Superstitious Chinese New Year foods often aren't that tasty




(CNN) -- For me, Chinese New Year used to be fun.


When I was a kid, I was excited during Chinese New Year when I got lai see and I could stay up late. I even had access to candy, a once-a-year treat while living under the roof of my Tiger Mom.


Riding strong on the sugar highs, I always thought to myself, this is what it must feel like to be an adult. I was flush, free and giddy.


Then at some point in my twenties, Chinese New Year became a chore. Not any garden variety chore, but a cold-sweat-inducing family obligation that I try hard to avoid.


As an adult, Chinese New Year is an annual nightmare, for the following reasons:


1. I find it sucks when you are single




Single twenty-something? Smile while you can until the interrogation begins.



Relatives feel that they have a right to judge you because you do share bits of DNA, so, really, it's almost like they're judging themselves.


Typically, the extended family gathers for Chinese New Year and spends an inordinate amount of time together, during which people get bored and focus their restlessness on judging the younger generation, particularly those who are single.


Singledom means a lack of responsibilities and responsibility-free people need to be reined in by the wisdom of elders, or they will be reckless with their directionless lives.


Here are some unavoidable conversations at Chinese New Year. By "conversations" I really mean monologues by one Wise Elder or another, fired away at a particular Single Younger in a trance-like manner:


"Why don't you have a boyfriend? If you have a boyfriend, why don't you get married?"


"Why are you not dieting at least a little bit? Second Cousin Yong Yong will have to start bringing clothes from America for you."


"What happened to your hair? Blue is not such a good color for us Chinese people."


"Are you saving up for an apartment? Why not? The most important thing in life is to have a roof over your head. You don't want to be homeless, do you? What if the economy collapses again? At least you will have an apartment."


"Why don't you get a better paid job? You are wasting your talent. You will regret your life."


2. I am employed


I loved the great Chinese tradition of gifting lai see. Getting HK$20 for no reason other than tradition really rocked my seven-year-old world.


I have an income now, so twenty bucks here and there doesn't make a huge difference, but I still retain that childhood anticipation for the red packets. It's just a bit disappointing when I open up an envelope and it isn't concealing a massive check.


And it's the guilt from feeling disappointed that makes me really hate Chinese New Year for making me hate myself.


It's just like being unable to conceal your letdown expression when unwrapping that pair of socks at Secret Santa parties.


Gifting is a heartwarming tradition. It's the thought that counts. I am not supposed to care. I am a bad person.


There's even worse.


Chinese New Year gambling is just out of hand.


Now that I have a job, I'm expected to bet real money at The Mahjong Table, a no man's land filled with hidden agendas, treacherous scheming and Janus-faced traitors.


If you beat your elder relatives at mahjong one too many times, beware their wrath. It really hurts when you get hit by a mahjong tile.


If you lose on purpose to your elders and are unable to skillfully conceal your purposefulness, you risk looking patronizing.


It will put them in a bad mood and lead to a vengeful "what are you doing with your life" interrogation later. See point number one.


If you're simply crap at the game, you lose a load of money and will probably be judged for being not very intelligent. See point number one again.


3. I like good food




Chinese New Year cake is good only when it's homemade.



When foreigners make jokes about Chinese eating weird foods, I cringe.


When Chinese New Year comes around, I'm the one making the damn jokes.


At this time of year, we do get some incredible festive dishes.


And then there are those odd ones that make you feel like the taste, texture and nutritional content of food have all become irrelevant -- we only eat for superstitions.


Lots of Chinese New Year foods are auspicious in meaning, but atrocious in taste. I propose that we at least get rid of these three that are now out of touch with our lives:


Chinese New Year cake


Called "leen go" in Cantonese ("niangao" in mainland China), the name sounds auspicious and means "to progress more and reach higher every year."


The cake is made from glutionous rice, sugar and flavored with red bean paste or jujubes. Cut into thin slices, dip into beaten eggs and pan fry until it's gooey on the inside and crisp on the outside.


The problem is, no one makes these at home anymore and the store-bought version is bland and stodgy, like eating slices of caulking.


Since glutinous rice is considered difficult to digest for the elderly, us Single Youngers who have nothing to lose are forced to finish the plateful.


Sugared lotus seeds


Back in the day -- before globalization brought us jelly beans and Sugus, before the invention of Coca-Cola, before Christopher Columbus brought cocoa beans to the Old World -- eating sugar-coated lotus seeds during Chinese New Year seemed like a good idea.


Today, we have so many more delicious ways to feed our sweet tooth, so why do people still buy sugared lotus seeds?


They look like mothballs, taste one dimensional and feel like a marble of sand broken upon the tongue.


The name "leen tsi" sounds like "to birth sons each year." No one in the family likes to eat them and most of them already have kids, which means us Single Youngers have to swallow.


Gok tsai


These are deep-fried sweet dumplings. The skin is a thick, lifeless pastry made from lard, the filling is a mind-numbingly sweet blend of sugar and nuts.


Its shape and color makes it, somewhat, resemble a gold ingot. Eating these symbolize prosperity for the new year.


If I had to run a marathon, I might appreciate the fat bomb. But the only thing that I run are scripts on my browser.


That point, like the others in this post, is lost on the Wise Elders, wise as they are.


The opinions expressed in this commentary are solely those of Zoe Li. A former CNN employee, Zoe is a Hong Kong resident and edits the Hong Kong section of BLOUIN ARTINFO.






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Hawks nail Torres, and then drill Coyotes 6-2









GLENDALE, Ariz. — Jamal Mayers punched Raffi Torres in the face, then Patrick Kane punched the rest of the Coyotes in the gut.

It didn't take long for the Blackhawks to get their reprisal on Torres and not much longer to get the last laugh, too, as they drilled the Coyotes 6-2 on Thursday night at Jobing.com Arena.



  • Related

























  • Video: Hawks' Mayers on fighting with Torres




    Video: Hawks' Mayers on fighting with Torres







































  • Kane no longer playing with mouth guard




    Kane no longer playing with mouth guard







































  • Box score: Blackhawks 6, Coyotes 2





    Box score: Blackhawks 6, Coyotes 2






































  • Video: Hossa on facing Torres, Coyotes




    Video: Hossa on facing Torres, Coyotes















  • Maps
























  • Jobing.com Arena, Westgate City Center, Glendale, AZ 85305, USA














  • United Center, 1901 West Madison Street, Chicago, IL 60612, USA












In Torres' first appearance against the Hawks since his 21-game suspension for an illegal hit that seriously injured Marian Hossa during the 2012 Stanley Cup playoffs ended, Mayers confronted the Coyotes veteran just 2 minutes, 35 seconds into the game.

Hossa watched from the bench as the two dropped the gloves and threw flurries of punches during the spirited bout. With that out of the way, it was time for Kane & Co. to get to work.

Kane had two goals and an assist — all in the first period — Jonathan Toews, Bryan Bickell and Viktor Stalberg each had a goal and an assist and Dave Bolland also scored as the Hawks remained unbeaten in regulation at 9-0-2.

"I realize what my job is at this point," Mayers said. "It still doesn't excuse what (Torres did) but give (him) credit that he was willing to go."

Said Torres: "(The Hossa incident) is in the past and part of the game but I understand that if I go out there and run around and throw some hits then I'm going to have to answer the bell sometimes. (Thursday night) was a perfect example."

Patrick Sharp added three assists and Ray Emery earned the victory in goal to help the Hawks move to 3-0-2 on their season-long, six-game trip. Martin Hanzal and Torres scored for the Coyotes and Mike Smith, who was yanked in the second period, suffered the loss.

"What Jamal did was great for the team and put that to rest," said Emery, who made 22 saves to up his record to 3-0-0.

"More important was to get the two points and stay focused, not let that whole situation get the best of us. I think we did that."

After the Mayer-Torres showdown, the Hawks exploded with four unanswered goals: one from Stalberg and two from Kane surrounding one from Bolland.

"We had a great start," Hawks coach Joel Quenneville said. "We had real good purpose to our game. … It was a great effort across the board. I was pleased with every aspect of our game, the contribution from each guy."

After Hanzal's goal early in the second, Toews and Bickell put the game out of reach.

Kane has eight goals and 10 assists in 11 games.

"It's always nice scoring goals when you're winning," Kane said. "Hopefully it's something I can continue and we can keep winning games."

ckuc@tribune.com

Twitter @ChrisKuc



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Opposition leader's funeral brings day of reckoning for Tunisia


TUNIS (Reuters) - Tunisia's political crisis looked likely to deepen on Friday with strikes and protests planned around the funeral of assassinated opposition politician Chokri Belaid.


Belaid's killing on Wednesday has brought thousands of people onto the streets of the capital Tunis and other cities in violence-marred protests.


Unions have called a general strike for Friday, setting the stage for further confrontation two years on from the pro-democracy revolution that inspired the Arab Spring.


Tunisia is riven by tensions between the dominant Islamists and their secular opponents, and by disillusionment over the lack of social progress since the overthrow of dictator Zine al-Abidine Ben Ali in January 2011.


In response to Belaid's assassination, Prime Minister Hamdi Jebali, an Islamist, said on Wednesday he would dissolve the government, name a non-partisan cabinet of technocrats and hold early elections. But his partners opposed the move and it is yet to be approved by parliament.


No one has claimed responsibility for the killing of Belaid, a lawyer and secular political figure, who was shot by a gunman as he left home for work on Wednesday.


But a crowd set fire to the headquarters of Ennahda, the Islamist party of Prime Minister Jebali, who leads a coalition with two junior secularist parties. Ennahda denies any involvement.


While Belaid had only a modest political following, his criticism of Ennahda policies spoke for many Tunisians who fear religious radicals are bent on snuffing out freedoms won in the first of the revolts that rippled through the Arab world.


"Criminals assassinated Chokri's body, but will not assassinate Chokri's struggle," his widow Besma said on Thursday.


"My sadness ended when I saw thousands flocking to the streets...at that moment I knew that the country is fine and men and women in my country are defending democracy, freedom and life."


All three ruling parties and sections of the opposition rebuffed Jebali's plan to create a small, technocrat government to take over day-to-day matters until elections could be held, demanding they be consulted before any such move.


"In the likely event that there is no agreement, civil unrest will increase, reaching a level that cannot be contained by the police," said Firas Abi Ali of the London-based Exclusive Analysis think-tank.


"If unrest continued for more than two weeks, the army would probably reluctantly step in and back a technocrat government, as well as fresh elections for a new Constituent Assembly."


The economic effect of political uncertainty and street unrest could be serious in a country which has yet to draft a post-revolutionary constitution and which relies heavily on the tourist trade.


The cost of insuring Tunisian government bonds against default rose to its highest level in more than four years on Thursday and ratings agency Fitch said it could further downgrade Tunisia if political instability continues or worsens.


(Writing by Robin Pomeroy; Editing by Angus MacSwan)



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Asian shares, euro pause ahead of ECB decision

TOKYO (Reuters) - Asian shares and the euro paused from recent gains on Thursday, as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's view on euro zone growth prospects, optimistic that the worst may be over.


"Risk assets traded heavily as market participants exercise caution ahead of the ECB, particularly with Europe's political crisis hampering sentiment," said Stan Shamu, market strategist at IG Markets. "There has been growing talk of currency wars lately and some are now saying the eurozone will soon consider a fixed rate for the single currency."


European markets are seen in tight ranges, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open flat to up 0.1 percent. A 0.1 percent drop in U.S. stock futures suggested a soft Wall Street start. <.l><.eu><.n/>


Japan's Nikkei stock average <.n225> ended down 0.9 percent, retreating from its highest level since October 2008 that it scaled on Wednesday as investors took a break from selling the yen. <.t/>


But shorter-dated Japanese government debt rallied, sending 5-year government bond yields to a record low of 0.135 percent and 5-year yields to their lowest since September 2002 at 0.030 percent, on expectations that the central bank will cut interest rates to zero.


The yen's broad weakness has been driven by expectations for radical reflationary policy from the Bank of Japan, under Prime Minister Shinzo Abe's push for a mix of anti-deflation policies.


"Hopes for 'Abenomics' are supporting the mood, but investors are also sensitive to the currency moves, so right now, even slight uncertainty on Europe can be a reason to pull back," said Hiroichi Nishi, an assistant general manager at SMBC Nikko Securities.


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was down 0.1 percent near a one-week low, after reaching a 18-month high on Monday.


Shanghai shares <.ssec> were set to break an eight-day rising streak, as investors booked profits on Chinese financials after the central bank stressed the need to tackle inflation and speculative housing demand.


Australian shares gained 0.3 percent, outperforming their Asian peers, on a rise in index heavyweights National Australia Bank and Telstra Corp which reported higher earnings. Australian headline job figures for January beat market expectations.


Recent data suggesting a moderate global economic recovery, even if it lacked strong momentum, underpinned industrial metals, keeping London copper prices near four-month highs and platinum and palladium near their highest level in 17 months on hopes of improved demand.


Data from deflation-swamped Japan was also positive, with the country's core machinery orders surging unexpectedly in December for a third straight month of increases, with firms expecting further improvement in the first quarter.


But analysts said Asian economies were still relying on exports to power their way to growth.


"One of the pillars of our bullish view on Asian currencies at the start of the year was the theme of global rebalancing, in which Asian economies would move away from export-dependent growth models towards a more domestic demand-driven model, allowing their currencies to appreciate to dampen their export competitiveness in favor of stronger terms of trade," said Morgan Stanley in a research note.


"However, Asian economies have been slower in the rebalancing process than we had envisioned, as seen by the heavy physical and verbal FX intervention this year."


FATE OF DRAGHI MAGIC


Growing optimism that the euro zone economy may be nearing a bottom has propelled the euro to a 14-1/2-month high against the dollar, a 34-month peak against the yen and 15-month top on sterling.


The ECB is expected to keep interest rates at a record low 0.75 percent at later on Thursday. Traders will focus on any comments about the euro's recent strength as well as the bank's view on the euro zone economy.


Vassili Serebriakov, strategist at BNP Paribas, said the ECB will likely reason that the euro's strength is due to real improvement in the financial markets and economic outlook, and thus does not warrant immediate action.


Draghi's strong verbal commitment to defend the euro and the ECB's new bond-buying scheme to help ease funding strains in highly-indebted euro zone members had significantly reduced risks of the region crumbling under the weight of its debt woes.


But a corruption scandal in Spain and uncertainty over the outcome of an Italian election later this month brought market focus back to the region's potential political instability.


"The scandal stirs memories of past scandals, and there's the possibly that it, too, could become a bigger matter, so this is making some investors cautious," said Kimihiko Tomita, head of forex at State Street in Tokyo.


The euro steadied around $1.3526, off a 14-1/2-month high against the dollar of $1.3711 hit last week.


The dollar eased 0.1 percent to 93.57 yen after touching 94.075 yen, its highest since May 2010 on Wednesday. The euro steadied at 126.60 yen, off Wednesday's 127.71 yen, its strongest since April 2010.


U.S. crude rose 0.1 percent to $96.76 a barrel and Brent also added 0.2 percent to $116.90.


(Additional reporting by Ayai Tomisawa and Lisa Twaronite in Tokyo; Editing by Sanjeev Miglani and Eric Meijer)



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Signing Day: Ole Miss muscles in on power programs


Alabama. Ohio State. Michigan. Florida. Notre Dame. Mississippi?


Ole Miss muscled in on the powerhouses that usually dominate national signing day, landing some of the most sought-after prospects in the country on college football's annual first-Wednesday-in-February frenzy.


The Rebels, coming off a promising 7-6 season in their first season under coach Hugh Freeze, had the experts swooning by signing three of the bluest chips still on the board and building a well-rounded class otherwise.


"I do think (this class) has the possibility of being a program changer," Freeze said. "But it's all on paper right now.


The day started with defensive end Robert Nkemdiche from Loganville, Ga., rated the No. 1 recruit in the country by just about everyone who ranks them, deciding to join his brother, Denzel, in Oxford, Miss.


"I feel like it's the right place for me," Nkemdiche said after slipping on a red Ole Miss cap. "I feel like they can do special things and they're on the rise. I feel like going to play with my brother, we can do something special."


Nkemdiche originally committed to Clemson last year, then backed off that and narrowed his picks down to LSU, Florida and Mississippi — and the Rebels beat the big boys.


They weren't done. Coaches in the Ole Miss war room were exchanging hugs and high-fives again a couple hours later when Laremy Tunsil, a top-rated offensive tackle from Lake City, Fla., picked the Rebels over Florida State and Georgia.


"Tunsil to Ole Miss I think was the biggest surprise of the whole (recruiting season)," said JC Shurburtt, national recruiting director for 247Sports.com.


And, as if the Ole Miss needed more good news, highly touted defensive back Antonio Conner from nearby Batesville, Miss., chose the Rebels over national champion Alabama.


Ole Miss also landed Laquon Treadwell from Crete, Ill., one of the best receiver prospects in the country. He made a verbal commitment to the Rebels back in December, and sealed the deal Wednesday, the first day high school players can sign binding letters of intent.


The end result was a class good enough to even catch the attention of LeBron James.


"Ole Miss ain't messing around today! Big time recruits coming in. SEC is crazy," the NBA MVP posted on his Twitter account.


Crazy good. While the Rebels racked up, it's important to remember they still have plenty of ground to gain on the rest of their conference.


Nick Saban reloaded the Crimson Tide with a class that Rivals.com ranked No. 1 in the country.


SEC powers Florida, LSU and Georgia pulled in typically impressive classes. SEC newcomer Texas A&M cracked the top 10 of several rankings. Even Vanderbilt, coming off a nine-win season, broke into the top 25.


It's the cycle of life in the SEC, which has won seven straight BCS championships. Stock up on signing day and scoop up those crystal footballs at season's end.


___


SLIPPING AWAY FROM USC


Signing day didn't do much to soothe the scars left from a difficult season for Southern California.


NCAA sanctions limited the number of scholarships coach Lane Kiffin and the Trojans could hand out this year, and then as signing day approached USC had several players who had given verbal commitments change their minds.


The most notable defection on signing day was five-star defensive back Jalen Ramsey of Brentwood, Tenn., who flipped to Florida State. Defensive end Jason Hatcher from Louisville, Ky., bailed on USC and signed with Kentucky, and defensive end Torrodney Prevot from Houston not only reneged on his USC commitment, but he landed at Pac-12-rival Oregon.


"People expected (Prevot) to flip from USC, but they thought it would be to Texas A&M," Shurburtt said.


USC's class won't be lacking blue chippers. Quarterback Max Browne from Washington is considered the next in a long line of topflight Trojans quarterbacks, and Kenny Bigelow from Maryland is rated among the best defensive linemen in the nation.


Kiffin will be banking on quality to make up for the lack of quantity, but that's a precarious way to play a game as uncertain as recruiting.


____


IF MOMMA'S NOT HAPPY ...


Alex Collins, a top running back prospect out of Plantation, Fla., announced on Monday night that he was going to Arkansas instead of Miami.


It was considered a huge victory for new Razorbacks coach Bret Bielema.


But on Wednesday morning, when it was time to make it official, Collins' letter of intent didn't come spinning through the fax machine in Fayetteville, Ark.


There were some odd reports about Collins' mother not being happy with her son's decision to go so far from home.


College coaches aren't allowed to talk about specific players before they sign, but Bielema did acknowledge during his signing day news conference that Arkansas' class of 22 players could "grow by one."


___


THE BIG TWO


Ohio State and Michigan received two thumbs up from experts on their signing day classes. They all had the Buckeyes and Wolverines around top five in the country.


After that, there was a drop off. Nebraska received solid grades and Penn State, despite NCAA sanctions that limited its class to 17 signees, held up pretty well.


"That's a tribute to the job (Penn State coach) Bill O'Brien and the staff did," Shurburtt said.


But signing day 2013 signaled that Urban Meyer's Buckeyes and Brady Hoke's Wolverines are primed to pull away from most of the Big Ten, and maybe — just maybe — give the league a team or two that can challenge those SEC teams for a national title.


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BUILT TO LAST


Notre Dame followed up its best season in more than two decades with a recruiting class that coach Brian Kelly hopes can keep the Fighting Irish contending for more national titles.


The class includes a famous name in Torii Hunter Jr., the son of the All-Star outfielder. Hunter Jr. is a top-notch receiver prospect, though he broke his leg during an All-Star game and it could be a while before he's back on the football field.


Linebacker Jaylon Smith from Fort Wayne, Ind., is generally regarded as the jewel of a class that experts have ranked among the best in the country.


"I love agreeing with experts," Kelly said.


___


BASEBALL OR FOOTBALL?


Oklahoma hopes it has found the next Sam Bradford in Cody Thomas, a pocket passer from Colleyville, Texas.


One small problem. Thomas is also a big-time baseball player who could draw interest in the major league draft this summer.


"We wouldn't have pursued him if we didn't feel there was a great chance he'd be playing football," Oklahoma coach Bob Stoops said.


___


QUOTABLE


South Carolina coach Steve Spurrier said recruiting classes "don't always pan out. Of course, they always seem to pan out at Alabama."


___


AP Sports Writer David Brandt in Oxford, Miss., and Associated Press Writer Tom Coyne in South Bend, Ind., contributed.


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Follow Ralph D. Russo at www.Twitter.com/ralphdrussoap


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Bring drones out of the shadows






STORY HIGHLIGHTS


  • John Brennan's confirmation hearing is a chance to ask about drone program, author says

  • Sarah Holewinski: Brennan is one of a few officials who knows full story on drones

  • She says senators need to ask about damage drone program does to civilians, U.S. reputation

  • Holewinski: CIA should hand over drone program to Defense Department




Editor's note: Sarah Holewinski is executive director of the Center for Civilians in Conflict, which advocates protections for civilians affected by armed conflict. She was a member of the White House AIDS policy team in President Bill Clinton's second term.


(CNN) -- The president's pick for CIA director -- John Brennan -- is one of a handful of U.S. officials who understands America's covert drone campaign inside and out.


Nearly everyone else is in the dark about the whos, wheres and whys of the program, including most members of Congress. But Brennan is also one of the few U.S. officials who's stood in front of a public audience and tried to explain the targeting of terrorists outside recognized battlefields. And while overseeing a massive use of lethal force, Brennan is also known inside the administration as a moderating voice in the fight against terrorism.



Sarah Holewinski

Sarah Holewinski



The fact is, Brennan's personal views are as opaque as the drone campaign itself. He may assume leadership of the CIA and decide a clandestine agency should not conduct what is an obvious military operation (a stance I and many others would fully support); after all, a veteran of the CIA may believe the agency should get back to gritty intelligence gathering.


Or, maybe Brennan believes that when it comes to the fight against al Qaeda, the public and its Congress should trust the executive office to protect the American people by whatever means it sees fit.


One way or the other, this week's Senate confirmation hearings should be an opportunity to bring Brennan's views out of the shadows, along with the basic attributes and justifications of the covert drone campaign. The man, the machine and the policy are inextricably linked.


Bergen: John Brennan, America's drone warrior



U.S. officials have consistently claimed that offering too many details about the covert drone program could threaten national security. Fair enough; some classification for national security is understandable. But the secrecy surrounding covert drone use is unduly excessive and not in keeping with the transparent government President Barack Obama promised.


Since the bulk of Brennan's hearing will be behind closed doors, the Senate Select Committee on Intelligence has no reason to shy away from asking tough questions about the drone program. It matters that Congress is there to represent the American people. On their behalf, Congress has a duty to ensure the use of lethal force beyond our borders is being considered and carried out responsibly, with due consideration for the harm it may inflict on civilian populations.


Talk Back: Should U.S. be able to kill American terrorist suspects without trial?


Senators might ask a very basic question to Brennan, one that is seldom clearly answered by the administration: "What impact is the drone campaign against al Qaeda and its associates having?"




John Brennan, President Barack Obama's choice for CIA director, has been deeply involved in the U.S. drone program.



This is a fundamental question of accountability any U.S. official involved in setting or carrying out counterterrorism policy should be able to answer. That answer may describe a dwindling kill list, but it must also put forward facts about what impact drones are having on civilians living under them.


U.S. armed forces in Afghanistan and Iraq learned that the positive or negative impacts of an operation on the local population are an important metric of mission effectiveness. Commanders worked hard to reverse anti-American sentiment caused by a seemingly callous U.S. attitude toward civilian deaths and injuries. In the case of counterterrorism operations, palpable anger toward America would be antithetical to the goal of decreasing the number of terrorists and those who support their cause.


As it stands, it's unclear whether anyone, including Brennan, knows what negative consequences are emerging on the ground because of remote drones.


Rather, claims of low civilian casualties and drone precision capabilities paint a picture of extreme effectiveness in taking out terrorists while sparing civilians. It's true that a drone is precise, meaning it will hit what it is aimed at -- a building, a bunker or a person. But there are valid concerns about whether the target hit is the right one.


Opinion: When are drone killings illegal?


Remote drones likely rely on sources that may be questionable such as video and cell phone intercepts to identify a target. Civilians may be mistakenly targeted as combatants and counted as such because there are no ground troops to conduct a battle damage assessment, interview witnesses or properly identify bodies.


Civilians may also get caught up in so-called "signature strikes" in which operators target individuals based on behavior, not on known identity. This is legally questionable but also has real ramifications for civilians living under drones.


If a civilian in Pakistan doesn't know what behavior makes him a target for U.S. drones, he cannot fully protect himself and his family. If a drone harms his family, even mistakenly, our research shows they won't receive an apology, explanation or any help from the United States. Certainly there will be no love lost for America.


Any deaths and injuries are compounded by psychological trauma, displacement and fear and suspicion among neighbors. One Pakistani told us, "We fear that the drones will strike us again. ... My aged parents are often in a state of fear. We are depressed, anxious and constantly remembering our deceased family members."


Gen. Stanley McChrystal, the former commander of international forces in Afghanistan, recently noted, "What scares me about drone strikes is how they are perceived around the world. ... (T)he resentment created by American use of unmanned strikes ... is much greater than the average American appreciates. They are hated on a visceral level, even by people who've never seen one or seen the effects of one."


The drone program needs to come out of the shadows, with explanations about who is a civilian, who is a target, and how drone operators distinguish between the two.


The CIA should get out of the drone operation business, handing it over to the Defense Department, which has a culture of learning lessons, accountability to Congress and a new openness about civilian protection after 10 years of war in Afghanistan and Iraq.


Drone operators should be trained in civilian protection best practices, and any civilian harmed should receive recognition and help for their losses, in accordance with the values American policymakers have espoused about humanity even during times of war.


The Senate may confirm Brennan as head of the CIA. It should also confirm where he stands on government accountability for lethal force and the CIA's role in the remote drone program.


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Sarah Holewinski.






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Postal unions angry, customers unfazed about Saturday cut

Chicago Tribune reporter Rob Manker gathers some reactions to the recent news that the U.S. Postal Service plans to drop Saturday delivery of first-class mail by August. (Posted on: Feb. 6, 2013.)









The U.S. Postal Service's plan to end Saturday first-class delivery in August angered unions that stand to lose jobs and faces an uncertain fate in Congress.


But the decision, which the Postal Service says will save $2 billion a year, barely fazed a number of people interviewed at Chicago-area post offices.


"No one really sends letters anymore," said David Braunschweig, 63, who was at the Arlington Heights post office to mail a gift. "Putting away mail (both Saturday and Sunday), it won't kill anyone."








Hammered by competition that includes the Internet, the Postal Service lost nearly $16 billion last year and said doing away with first-class mail on Saturdays is essential to its recovery plan.


"It's an important part of our return to profitability and financial stability," Postmaster General and CEO Patrick Donahoe said at a news conference Wednesday in Washington. "Our financial condition is urgent."


The agency will continue delivering packages and filling post office boxes six days a week, and all offices that already were operating on Saturdays will continue to do so. Package volume is one bright spot for the Postal Service. It's up 14 percent since 2010, which officials attribute to the growth of online commerce.


The end of Saturday delivery would be the biggest change to mail service since the end of twice-daily delivery in the 1950s. Overall mail volume dropped by more than 25 percent from 2006 to 2011, which could explain the shrugs from several Chicago-area postal customers.


"I was accustomed to getting mail on Saturdays, but we will get accustomed to not getting it as well," Rich Klimczak, 74, said outside the Tinley Park post office. "The only thing I would not like to see is (postal workers) losing their jobs."


The move, which would take effect Aug. 5, aims to reduce the postal workforce by at least 20,000 more employees through reassignment and attrition. It would also significantly reduce overtime payments.


Local union officials estimated that 10,000 postal workers will have their workweek reduced because of the move. On Wednesday afternoon, the Chicago branch of the National Association of Letter Carriers called for Donahoe's resignation.


"USPS executives cannot save the Postal Service by tearing it apart," Cliff Guffey, president of the American Postal Workers Union, said in a statement. "These across-the-board cutbacks will weaken the nation's mail system and put it on a path to privatization."


The National Rural Letter Carriers' Association, which has about 1,500 members in the Chicago suburbs, said the elimination of Saturday service puts the Postal Service in a "death spiral."


Although the Postal Service no longer receives taxpayer money, it remains subject to oversight by Congress, which since 1983 has repeatedly passed measures requiring six-day delivery. Donahoe's announcement appeared to be an effort to force action in Congress after comprehensive postal reform legislation stalled last year.


While many members of Congress insist they would have to approve the cutback, Donahoe told reporters that the agency believes it can move forward unilaterally. The current mandate for six-day delivery is part of a government funding measure that expires in late March.


"There's plenty of time in there so if there is some disagreement" with lawmakers, "we can get that resolved," he said.


The divide among lawmakers on the issue does not break cleanly along party lines. Lawmakers who represent rural areas, who tend to be Republicans, generally have opposed service cutbacks. So have those with strong backing from postal labor unions, mostly Democrats.


Last year, the Senate approved a bill that would have allowed the Postal Service to end Saturday delivery after a two-year period to evaluate the potential effects. Similar legislation in the House never came up for a vote.


The Obama administration had included a proposal for five-day mail delivery in its 2013 budget plan. White House officials, however, had said they supported that change only in concert with other reforms. White House spokesman Jay Carney said Wednesday that officials had not yet studied the latest plan.


Sen. Tom Carper, D-Del., the new chairman of the Senate Homeland Security and Governmental Affairs Committee, expressed concern that the Postal Service's unilateral announcement could complicate his plans for overall reform.


However, he added, "It's hard to condemn the postmaster general for moving aggressively to do what he believes he can and must do to keep the lights on."





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Tunisian government dissolved after critic's killing causes fury


TUNIS (Reuters) - Tunisia's ruling Islamists dissolved the government and promised rapid elections in a bid to restore calm after the killing of an opposition leader sparked the biggest street protests since the revolution two years ago.


The prime minister's announcement late on Wednesday that an interim cabinet of technocrats would replace his Islamist-led coalition came at the end of a day which had begun with the gunning down of Chokri Belaid, a left-wing lawyer with a modest political following but who spoke for many who fear religious radicals are stifling freedoms won in the first of the Arab Spring uprisings.


During the day, protesters battled police in the streets of the capital and other cities, including Sidi Bouzid, the birthplace of the Jasmine Revolution that toppled Zine al-Abidine Ben Ali in January 2011.


In Tunis, the crowd set fire to the headquarters of Ennahda, the moderate Islamist party which won the most seats in an legislative election 16 months ago.


Calls for a general strike on Thursday could bring more trouble though Belaid's family said his funeral, another possible flashpoint, might not be held until Friday.


Prime Minister Hamdi Jebali of Ennahda spoke on television on Wednesday evening to declare that weeks of talks among the various political parties on reshaping the government had failed and that he would replace his entire cabinet with non-partisan technocrats until elections could be held as soon as possible.


It followed weeks of deadlock in the three-party coalition. The small, secular Congress for the Republic, whose leader Moncef Marzouki has served as Tunisia's president, threatened to withdraw unless Ennahda replaced some of its ministers.


Wednesday's events, in which the Interior Ministry said one police officer was killed, appeared to have moved Jebali, who will stay on as premier, to take action.


"After the failure of negotiations between parties on a cabinet reshuffle, I have decided to form a small technocrat government," he said.


"The murder of Belaid is a political assassination and the assassination of the Tunisian revolution," he said earlier.


It was not clear whom he might appoint but the move seemed to be widely welcomed and streets were mostly calm after dark.


A leader in the secular Republican Party gave Jebali's move a cautious welcome.


"The prime minister's decision is a response to the opposition's aspirations," Mouldi Fahem told Reuters. "We welcome it principle. We are waiting for details."


Beji Caid Essebsi, leader of the secular party Nida Touns, who was premier after the uprising, told Reuters: "The decision to form a small cabinet is a belated move but an important one."


DIVISIONS


The widespread protests following Belaid's assassination showed the depth of division between Islamists and secular movements fearful that freedoms of expression, cultural liberty and women's rights were under threat just two years after the popular uprising ended decades of Western-backed dictatorship.


"This is a black day in the history of modern Tunisia. Today we say to the Islamists, 'get out', enough is enough," said Souad, a 40-year-old schoolteacher outside the ministry.


"Tunisia will sink in blood if you stay in power."


Ennahda, like its fellow Islamists in Egypt's Muslim Brotherhood, benefited from a solid organization that survived repression by the old regime.


And as in Egypt, the Islamists have faced criticism from secular leaders that they are trying to entrench religious ideas in the new state. A constitution is still due to be agreed before a parliamentary election which had been expected by June.


Belaid, 48, was shot at close range as he left for work by a gunmen who fled on the back of a motorcycle. Within hours, crowds were battling police, hurling rocks amid volleys of tear gas in scenes reminiscent of clashes in Egypt last month.


World powers, increasingly alarmed at the extent of radical Islamist influence and the bitterness of the political stalemate, urged Tunisians to reject violence and see through the move to democracy they began two years ago, when their revolution ended decades of dictatorship and inspired fellow Arabs in Egypt and across North Africa and the Middle East.


As in Egypt, the rise to power of political Islam through the ballot box has prompted a backlash among less organized, more secular political movements in Tunisia. Belaid, who made a name for himself by criticizing Ben Ali, led a party with little electoral support but his vocal opinions had a wide audience.


The day before his death he was publicly lambasting a "climate of systematic violence". He had blamed tolerance shown by Ennahda and its two, smaller secularist allies in the coalition government toward hardline Salafists for allowing the spread of groups hostile to modern culture and liberal ideas.


On Wednesday, thousands demonstrated in cities including Mahdia, Sousse, Monastir and Sidi Bouzid, the cradle of the revolution, where police fired tear gas and warning shots at protesters who set cars and a police station on fire.


While Belaid's nine-party Popular Front bloc has only three seats in the constituent assembly, the opposition jointly agreed to pull its 90 or so members out of the body, which is acting as parliament and writing the new post-revolution charter. Ennahda and its fellow ruling parties have some 120 seats.


Since the uprising, Tunisia's new leaders have faced many protests over economic hardship and political ideas; many have complained that hardline Salafists may hijack the revolution.


Last year, Salafist groups prevented several concerts and plays from taking place in Tunisian cities, saying they violated Islamic principles. Salafists also ransacked the U.S. Embassy in September, during international protests over an Internet video.


The embassy issued a statement condemning Belaid's killing and urging justice for his killers: "There is no justification for this heinous and cowardly act," it said. "Political violence has no place in the democratic transition in Tunisia."


ECONOMIC TROUBLES


Declining trade with the crisis-hit euro zone has left the 11 million Tunisians struggling to achieve the better living standards many had hoped for following Ben Ali's departure.


Its compact size, relatively skilled workforce and close ties with former colonial power France and other European neighbors across the Mediterranean has raised hopes that Tunisia can set an example of economic progress for the region.


Lacking the huge oil and gas resources of North African neighbors Libya and Algeria, Tunisia counts tourism as a major currency earner and further unrest could scare off visitors vital to an industry only just recovering from the revolution.


Jobless graduate Mohamed Bouazizi set himself on fire in December 2010 in the city, 300 km (180 miles) southwest of Tunis, after police confiscated his unlicensed fruit cart, triggering the uprising that forced Ben Ali to flee to Saudi Arabia less than a month later, on January 14, 2011.


President Moncef Marzouki, who last month warned the tension between secularists and Islamists might lead to "civil war", cancelled a visit to Egypt scheduled for Thursday and cut short a trip to France, where he addressed the European Parliament.


"There are political forces inside Tunisia that don't want this transition to succeed," Marzouki said in Strasbourg. "When one has a revolution, the counter revolution immediately sets in because those who lose power - it's not only Ben Ali and his family - are the hundreds of thousands of people with many interests who see themselves threatened by this revolution."


Belaid, who died in hospital, said this week dozens of people close to the government had attacked a Popular Front group meeting in Kef, northern Tunisia, on Sunday. He had been a constant critic of the government, accusing it of being a puppet of the rulers of wealthy Gulf emirate Qatar.


DENIES INVOLVEMENT


Human Rights Watch called his murder "the gravest incident yet in a climate of mounting violence".


Ennahda leader Rached Ghannouchi denied any involvement by his party in the killing.


"Is it possible that the ruling party could carry out this assassination when it would disrupt investment and tourism?" Ghannouchi told Reuters.


He blamed those seeking to derail Tunisia's democratic transition: "Tunisia today is in the biggest political stalemate since the revolution. We should be quiet and not fall into a spiral of violence. We need unity more than ever," he said.


He accused opponents of stirring up sentiment against his party following Belaid's death. "The result is burning and attacking the headquarters of our party in many areas," he said.


Witnesses said crowds had also attacked Ennahda offices in Sousse, Monastir, Mahdia and Sfax.


French President Francois Hollande said he was concerned by the rise of violence in Paris's former dominion, where the government says al Qaeda-linked militants linked to those in neighboring countries have been accumulating weapons with the aim of creating an Islamic state across North Africa.


"This murder deprives Tunisia of one of its most courageous and free voices," Hollande's office said in a statement.


(Additional reporting by John Irish in Paris; Writing by Alison Williams and Alastair Macdonald; Editing by Giles Elgood)



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