Monday, October 8, 2012

Sector Snap: Gas price spike hits chemical makers

NEW YORK (AP) ? Shares of chemical and fertilizer producers fell Monday after an analyst suggested that the recent spike in natural gas prices could affect fourth-quarter earnings results.

Natural gas prices are up roughly 21-percent jump since Aug. 31, according to data provider FactSet.

The price for the fuel has risen because of forecasts calling for colder-than-normal weather in the Midwest and Northeast. There also have been a larger than usual number of nuclear plant outages, which has increased demand.

In addition, there was a major explosion at a Mexican gas processing plant. Citi Research analyst P.J. Juvekar said that could lead to more U.S. natural gas being exported to Mexico.

Natural gas futures fell 2 cents to $3.38 per 1,000 cubic feet in morning trading Monday. That's up about 77 percent from April 19, when the price hit the lowest level in more than a decade at $1.907 per 1,000 cubic feet.

Natural gas is used as a feedstock for ammonia production, and typically makes up about 60 percent to 80 percent of cash costs, Juvekar told clients in a research note. That could affect North American producers like CF Industries Holdings Inc. and Agrium Inc.

"If high gas costs are sustained, there could be some modest margin pressure starting in 4Q (fourth quarter), but this does not alter our positive view on nitrogen ahead of...corn planting season in the U.S. in 2013," he wrote.

The Dow Chemical Co. and LyondellBasell Industries NV use natural gas as a fuel to generate power for chlor-alkali or methanol.

In late-morning trading, shares of CF Industries fell $2.41 to $219.51.

Agrium shares dipped 67 cents to $103.61.

Dow Chemical gave up 21 cents to $28.99, and LyondellBasell lost 32 cents to $52.36.

Source: http://news.yahoo.com/sector-snap-gas-price-spike-hits-chemical-makers-152909022--finance.html

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High hopes for Philippines peace deal with Muslim rebels

Both the government and Muslim leaders trumpeted the deal, but doubts remain over whether powerful Muslim clan leaders will be willing to lay down their arms as promised.

By Donald Kirk,?Correspondent / October 8, 2012

Philippine President Benigno Aquino shows a news article on the Philippine peace deal during a meeting with the government peace negotiator at the Malacanang Palace in Manila October 8. The Philippine government and Muslim rebels agreed a deal to end a 40-year conflict that has killed more than 120,000 people, Aquino said on Sunday, paving the way for a political and economic revival of the country's troubled south.

Cheryl Ravelo/Reuters

Enlarge

A deal to create a new Muslim autonomous region on the large southern Philippine island of Mindanao has raised high hopes of ending decades of fighting that cost more than 150,000 lives, even as pervasive doubts persist as to how or if the arrangement will work.

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With breakaway groups and local warlords still holding sway over significant stretches of jungle, the overriding question is whether rebellious Muslims will lay down their arms, as promised.

Both government and Muslim leaders heaped unreserved praise on the agreement reached yesterday that calls for giving Muslims broad powers while leaving the central government in charge of military and foreign policy. The name of the region would be ?Bangsamoro," meaning Moro Nation ? though officials said the Moros, as the area?s Muslims came to be called during three centuries of Spanish rule, would still be subject to Philippine law.

Philippine President Benigno Aquino III, who engineered the deal hammered out in secret talks in the Malaysian capital of Kuala Lumpur, described it in glowing terms in a television address broadcast nationwide from Malaca?ang, the presidential palace.

Mr. Aquino said what he called ?a framework agreement? would bring ?all secessionist groups into the fold? in a region never completely controlled either by the Spanish, or the Americans who drove out the Spanish in 1898. Revolt has simmered and flared ever since the Philippines gained independence from the United States in 1946 after more than three years of Japanese rule in World War II.

Deal to be signed Oct. 15

The deal is between the government and the Moro Islamic Liberation Front, by far the largest of the armed Muslim groups on Mindanao. The MILF includes about 20,000 members in an area with a population of more than 4 million people, most of them Muslim.

The breakthrough in the talks came when negotiators for the MILF stopped insisting that all their members would remain armed until the agreement really takes effect. ?We now have a solution to our problem,? MILF Vice Chairman Ghazili Jaafar told local journalists yesterday. The agreement ?has been accepted by a majority of the Bangsamoros,? he said.

Uncertainty crept into his comments, though, when he added, ?Let?s hope that finally a final agreement will be signed.?

Negotiators are to sign the agreement on Oct. 15 in Malaca?ang Palace under the eyes of President Aquino and Malaysian Prime Minister Najib Razak, but that?s just the first step in a process that has to include a plebiscite among voters in the area covered by the agreement? before it takes effect three or four years from now.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/Wdygm2TXrMw/High-hopes-for-Philippines-peace-deal-with-Muslim-rebels

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Obama raises California cash for race's last month

President Barack Obama waves as he leaves the White House in Washington for a campaign trip to Los Angeles, Calif., Sunday, Oct. 7, 2012. (AP Photo/Manuel Balce Ceneta)

President Barack Obama waves as he leaves the White House in Washington for a campaign trip to Los Angeles, Calif., Sunday, Oct. 7, 2012. (AP Photo/Manuel Balce Ceneta)

Republican presidential candidate and former Massachusetts Gov. Mitt Romney gets out of his vehicle before he boards his campaign plane in Orlando, Fla., Sunday, Oct. 7, 2012. (AP Photo/Charles Dharapak)

Republican presidential candidate and former Massachusetts Gov. Mitt Romney speaks during a campaign rally in Apopka, Fla. on Saturday, Oct. 6, 2012. (AP Photo/Reinhold Matay)

In this photo taken Tuesday Oct. 2, 2012, Paul Chavez, Cesar Chavez's middle son and president of the Cesar Chavez Foundation stands near his father's grave site in the memorial garden in Keene, Calif. Today, the foothills of the Tehachapi mountains continue to house the United Farm Workers of America headquarters and memorials to Chavez, though farmworkers no longer live there. President Obama is designating parts of the property as a national monument and visiting the site on Monday, a move seen as likely to shore up support from Hispanic and progressive voters just five weeks before the election. (AP Photo/Gosia Wozniacka)

(AP) ? Fresh off his strongest fundraising month this year, President Barack Obama is looking to raise millions of dollars from celebrities and wealthy donors in California with just one month left in a tightening race.

The three-day swing through the solidly Democratic state highlights the critical role that fundraising will play in the campaign's final weeks as Obama and his Republican rival, Mitt Romney, escalate their barrage of television ads in competitive states like Ohio, where the president will return Tuesday.

Romney, campaigning in up-for-grabs Florida, was preparing for a major foreign policy address Monday at the Virginia Military Institute intended to throw Obama back on his heels over his handling of Mideast unrest.

As Romney sought to build on the momentum from a debate performance last week that even Democrats conceded was "masterful," a string of good news for Obama threatened to steal the former Massachusetts governor's spotlight.

A jobs report Friday showing unemployment at the lowest levels of Obama's presidency was quickly followed Saturday by a fundraising report showing Obama and Democrats had raised $181 million in September. It was their best fundraising month of the campaign, but fell short of their record $190 million raised in September 2008 as the president campaigned for his first term.

Romney's campaign has not released its report for the month, and Republicans sought to downplay Obama's financial advantage. The party's national chairman, Reince Priebus, said he had been counting all along on being outraised by Obama and Democrats.

"This isn't going to come down to money. This is going to come down to heart," Priebus said. "We'll beat them on the ground, and we'll have all the money we need to be competitive."

After trailing Romney in the money race for most of the summer, Obama is back on top and pulling out all the stops to keep it that way. In what will be his final fundraising trip out West this election, Obama is enlisting his celebrity pals ? from actors to singers to chefs ? to donate to his campaign and encourage their fans to do the same.

In one event alone, a late-night soiree high above the Los Angeles skyline, Obama expected to rake in $3.75 million. Wolfgang Puck's WP24 in the Ritz-Carlton hotel will host the $25,000-per-person event for about 150 supporters.

Former President Bill Clinton was to join Obama earlier Sunday for a more intimate gathering with elite, longtime donors at the home of entertainment mogul Jeffrey Katzenberg. Then on to the main event: A star-studded concert at the Nokia Theatre with entertainment by actor George Clooney and musical guests Stevie Wonder, Jon Bon Jovi and Katy Perry.

As Obama played for California cash, his surrogates took to the talk shows to pound the theme that Romney's success in last week's debate was propped up entirely by dishonesty.

The president "was a little taken aback at the brazenness with which Gov. Romney walked away from so many of the positions on which he's run, walked away from his record," said David Axelrod, a top Obama strategist. "That's something we're going to have to make an adjustment for in these subsequent debates."

Obama and Romney also traded accusations of lying in new television ads, with each side claiming its positions had been distorted by their opponent.

"Dishonest" was the name given to Obama's ad, using debate footage to argue Romney grossly misrepresented his own positions as well as Obama's on taxes. Meanwhile, Romney's campaign released a new ad claiming Obama is not telling the truth when he says Romney wants to cut $5 trillion in taxes.

Both campaigns were prepping their running mates for Thursday's vice presidential debate ? and working to keep expectations low lest their candidate underperform.

On Sunday Priebus called Vice President Joe Biden "a gifted orator," while former House Speaker Newt Gingrich, R-Ga., who challenged Romney in the GOP primary, suggested Paul Ryan would hold back on any hostility out of respect for Biden's status as a senior statesman.

While in California, the only official presidential business for Obama comes Monday in Keene, Calif., where he will designate as a national monument the home of Latino leader Cesar Chavez, the founder of the United Farmworkers Union who died in 1993.

Yet even that move has political overtones, resonating with some Hispanic voters ? a crucial bloc in Obama's 2008 coalition and a critical component of his 2012 plan to keep Romney at bay.

Priebus spoke on CNN's "State of the Union." Axelrod spoke on CBS' "Face the Nation" and Gingrich on NBC's "Meet the Press."

___

Associated Press writer Steve Peoples in Apopka, Fla., contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-10-07-Presidential%20Campaign/id-2d321c006f634e178b83ec3da0b70ac0

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Red Flush Introduces The New Android Platform

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      Source: http://www.gambling-gazette.com/news/Red_Flush_Introduces_The_New_Android_Platform

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      Saturday, October 6, 2012

      Russia's Putin in charge at 60, but facing threats

      MOSCOW (Reuters) - Russian President Vladimir Putin turns 60 on Sunday, his grip on power weaker than in the past but under little immediate threat if the oil price stays high.

      Adoring supporters will celebrate in cities from Siberia to Rostov-on-Don in southern Russia, where the ruling party's loyal Young Guard will unfurl a banner on a bridge which they say symbolizes Putin's role by uniting Asia and Europe.

      Opponents will make their feelings known much closer to home, protesting near Moscow's Red Square under the banner: "We're sending the old man into retirement".

      The organizers plan to send their own symbolic message by asking protesters to bring gifts suitable for a pensioner - anything, perhaps, from reading glasses to a pipe.

      The man himself will be relaxing with his close family and plans no special celebrations, Kremlin spokesman Dmitry Peskov said. Just a few months into a third term as president, he may be reaching retirement age, but has no plans to retire.

      After 12 years as Russia's paramount leader, opinion polls show Putin enjoys higher ratings than most Western politicians, but they are down from their peak during the oil-fuelled economic boom of his first presidency from 2000 until 2008.

      In August the independent Levada polling group said 48 percent of Russians had a positive view of him compared to 60 percent in May when he began a new six-year term.

      But a poll published this week showed one in five Russian women would still be happy to marry him, even though he is about to reach an age at which he can collect his pension.

      "Age doesn't matter in what Vladimir Putin does or does not do," said Konstantin von Eggert, a political commentator, adding that Putin's views had changed little since he came to power.

      "His vision is rather pragmatic and reduces a person to two functions - he can either be a friend or a foe."

      WHO WILL SUCCEED HIM?

      The foes are now more obvious than before. Putin has faced the biggest protests of his rule in the past year, and foreign investors and the Russian opposition alike point to a lack of clarity in his economic and political policies.

      He has responded to the protests by pushing through laws which the opposition says are intended to stifle dissent - including tightening legislation on defamation and increasing fines for protesters.

      "When a person is in power he changes drastically, especially if he wants to rule forever," said Boris Nemtsov, an opposition leader, looking back on the years since Putin succeeded President Boris Yeltsin.

      "Putin who cut taxes, Putin who tried to continue Yeltsin's politics, and the current angry, greedy, thievish, corrupted, authoritarian leader - they seem to be two different people."

      The Kremlin has dismissed such accusations and Putin still has many fans. There will be a concert on Sunday on his hometown, St Petersburg, and supporters have applied for a permit to hold a 60,000-strong march and rally.

      State-run television channels will celebrate his years in office with what are expected to be glowing profiles.

      Putin has cultivated an image as a strong leader never shy of criticizing the West, embraced the resurgent Russian Orthodox Church and used Russia's oil revenues to dampen discontent. Populist policies include generous increases in public sector pay, extra social benefits and regional development programmes.

      But his macho image, built over the years with stunts such as shooting a tiger with a tranquilizer dart and flying a fighter jet, has increasingly become an object of satire.

      Among the many fawning words written about Putin in the Russian press this week, a few articles have also appeared asking questions about the lack of an obvious successor or a transparent succession process.

      "In Russia, Putin now stands alone at the summit of a mountain with steep slopes which no climber can get a grip on," the popular Moskovsky Komsomolets daily wrote on Friday.

      "In theory we have a mechanism for a change of power. In practice we do not have one."

      BATTLE BEHIND THE SCENES?

      Dmitry Medvedev, the prot?g? who stood in as president for four years because the constitution barred Putin from seeking a third successive term in 2008, appears out of favor.

      Medvedev is now prime minister but the two have taken a gentle dig at each other in recent weeks, and Putin has started undoing some of the more liberal policies Medvedev introduced.

      This has, in turn, reignited debate about rivalries between the powerful interest groups around Putin and Medvedev.

      But some analysts believe that while disagreement between Putin and Medvedev may exist, there is no real rupture in their relationship and their occasional political back and forth is meant to give the appearance of plurality under Putin.

      "You should never forget how loyal he is to the people he's worked with," said an experienced Western executive in Moscow.

      If all goes well for Putin, he can seek another six-year term when his mandate runs out in 2018. This would keep him in power longer than Leonid Brezhnev, whose 18-year rule in Soviet times is often criticized for economic and political stagnation.

      Economists and political analysts say the greatest immediate threat to Putin is not the opposition, which remains divided, but the Russian economy's dependence on energy exports.

      The oil price at which Russia's budget balances is above $100 per barrel, making the economy - and Putin - vulnerable to any fall to a price that is considerably lower.

      "The government is popular (with ordinary Russians) because it spends more and more and more," said Sergei Guriev, Rector of the New Economic School in Moscow [ID:nL5E8KO7WL]

      But he added: "If the oil price were $55, and the government could spend only what it can afford at $55, I think Putin would be gone."

      (Reporting By Timothy Heritage; editing by Philippa Fletcher)

      Source: http://news.yahoo.com/russias-putin-charge-60-facing-threats-155746011.html

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      Thursday, October 4, 2012

      Romney shifts to center as his confidence grows

      Republican presidential candidate and former Massachusetts Gov. Mitt Romney campaigns with vice presidential candidate Paul Ryan in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Charles Dharapak)

      Republican presidential candidate and former Massachusetts Gov. Mitt Romney campaigns with vice presidential candidate Paul Ryan in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Charles Dharapak)

      Republican presidential candidate and former Massachusetts Gov. Mitt Romney campaigns with his running mate Rep. Paul Ryan, R-Wis., in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Charles Dharapak)

      Republican presidential candidate former Massachusetts Gov. Mitt Romney and his running mate Rep. Paul Ryan, R-Wis., embrace during a rally in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Steve Helber)

      Republican presidential candidate former Massachusetts Gov. Mitt Romney and his running mate Rep. Paul Ryan, R-Wis., embrace during a rally in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Steve Helber)

      Republican presidential candidate and former Massachusetts Gov. Mitt Romney campaigns with vice presidential candidate Rep. Paul Ryan in Fishersville, Va., Thursday, Oct. 4, 2012. (AP Photo/Charles Dharapak)

      (AP) ? Republican presidential nominee Mitt Romney is shifting sharply to the political center as he begins to deliver a closing argument aimed at a slice of moderate, undecided voters a month before Election Day.

      On taxes, immigration, his "47 percent" comments and more, the former Massachusetts governor has toned down his heated, campaign trail rhetoric this week, including during his strong debate performance Wednesday night, as he looks to gain ground against President Barack Obama in the handful of states that will determine the outcome of the competitive race.

      "I know this is going to be a close-fought battle," a jubilant and invigorated Romney said in Colorado.

      Joined by running mate Paul Ryan and country star Trace Adkins at an evening rally in Fishersville, Va., Romney was confident and upbeat, basking in sustained cheers from a crowd of thousands. "Last night was an important night for the country ?" Romney said before getting cut off by loud chants of "Romney, Romney." After he finished speaking, his campaign set off fireworks.

      Romney even backed off his disparaging remarks about 47 percent of Americans who don't pay income tax. In an interview with Fox News before the Virginia rally, he said that had he been asked during the debate about the remarks secretly recorded at a fundraiser, he would have acknowledged that he had been "just completely wrong."

      In the coming days, the Republican nominee will try to capitalize on his well-received appearance by moderating his pitch and working to narrow Obama's advantage in swing-state polling that aides say showed signs of tightening even before Romney and the president sparred. The Republican's aides played down the notion that the debate was a game-changing event. But they appeared more optimistic about Romney's chances than they had been during a troubled stretch that lasted several weeks.

      "We've got over a month here," Romney strategist Stuart Stevens said. "That's an eternity."

      Romney will use that time to drive the centrist message he outlined in the debate. He emphasized support for popular elements of Obama's health care plan, embraced government regulation as necessary and hinted that he may eliminate government subsidies for oil companies as part of a larger tax plan he insisted would not cut taxes for the wealthy.

      In some cases, the message is a dramatic departure ? in tone, if not substance ? from a candidate who has for more than a year assailed the president's "government takeover" of health care and "job-crushing regulations," and who has promised tax cuts for all.

      While moderating his message, Romney will also deliver a series of policy speeches, beginning with a foreign policy address in Virginia on Monday, to help crystalize differences with the Democratic incumbent. Future speeches are expected to focus on job creation and federal debt ? areas where Romney's internal polling suggests there is an opportunity to win over so-called "persuadable voters."

      A recent Associated Press-GfK poll found that the vast majority of voters already have settled on a candidate, but 17 percent of likely voters are considered persuadable ? either because they're undecided or showing soft support for Obama or Romney. The group is generally less informed than the average voter and more moderate politically. Roughly 56 percent of persuadables approve of the way Obama is handling his job as president, but fewer, 47 percent, approve of his handling of the economy.

      Starting Thursday night, Romney also planned to lean more heavily on Ryan, the Wisconsin congressman, to help connect with voters. While Romney's campaign can cover more ground if they hold separate events, the two typically draw larger crowds when they appear together and Romney tends to be more energized with his No. 2 alongside him.

      As he headed to Virginia on Thursday, Romney was more upbeat than he had been in weeks. He grinned widely as he laughed and talked with aides at the front of his campaign plane. The atmosphere among his staff and advisers on the plane was jovial.

      Obama's campaign wasted little time trying to dampen the mood, with David Axelrod, the president's campaign strategist, saying: "It was a very vigorous performance, but one that was devoid of honesty ... I don't think he helped himself last night with his serial evasions and deceptions."

      To a certain extent, there's a fissure between Romney's message on the campaign trail and in television advertising.

      He declared in the debate, for example, that government regulation "is essential." Asked whether he thought it was excessive under Obama's leadership, Romney told a Denver audience a day later: "In some places, yes. Other places, no."

      But Romney is running an ad on Colorado television on the same topic that says: "Excessive government regulations are crushing job creation."

      On health care, Romney said in the debate that "pre-existing conditions are covered in my plan," a reference to the popular provision in the president's health care overhaul that prevents insurance companies from denying coverage to certain people.

      But in recent months, the Romney campaign has repeatedly clarified that only those who maintain continuous health care coverage would be protected.

      And while immigration was not addressed in the debate, Romney earlier in the week told The Denver Post that he would honor temporary work permits for young illegal immigrants granted by the Obama administration.

      Throughout the Republican primary, however, Romney took an aggressive tack on immigration, saying in debates that he approved of "self-deportation," where illegal immigrants would choose to leave on their own because they couldn't find work in the U.S. He assailed rival Rick Perry, the Texas governor, for allowing illegal immigrants to attend Texas state colleges and universities at reduced, in-state tuition rates.

      ___

      Associated Press writers Kasie Hunt in Denver and Ken Thomas and Deputy Director of Polling Jennifer Agiesta in Washington contributed to this report.

      Associated Press

      Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-10-04-Romney-The%20Middle/id-694babaa0dcf42c29d3aeb5d1b0482bc

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      Amanda Bynes: Obsessed With Lindsay Lohan, Hating on Her So Hard!

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