Monday, October 31, 2011

Drunk, naked driver smashes 12 cars in Moscow (AP)

MOSCOW ? Russian police say a drunk and naked driver has wreaked havoc in central Moscow, damaging 12 cars before being caught by police.

The city police said they started pursuing the man Sunday after he ignored a road sign banning a turn and refused orders to stop. In the ensuing chase, the motorist nearly hit a school bus, rammed through a police vehicle and smashed several other cars before being caught. When police got him he was completely naked.

Footage broadcast by Russian television stations showed him lying on the pavement and shouting "don't cover me!" to officers who tried to cover him with clothes.

The man said he came from the ex-Soviet nation of Moldova and was in distress over an unhappy relationship.

Source: http://us.rd.yahoo.com/dailynews/rss/russia/*http%3A//news.yahoo.com/s/ap/20111030/ap_on_re_eu/eu_russia_naked_driver

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APNewsBreak: Diplomats: Syria nuke probe stalled (San Jose Mercury News)

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Sunday, October 30, 2011

Samsung Q3 profit down (Reuters)

SEOUL (Reuters) ? Samsung Electronics Co, the world's top technology firm by revenue, reported a 13 percent fall in quarterly profit, as the stellar performance of its handset business was overshadowed by a slump in its mainstay chip division.

Samsung, the world's second-biggest handset maker after Nokia, said its handset division saw operating profit more than double from a year earlier to a record high of 2.52 trillion won ($2.3 billion) in the third quarter, thanks to strong sales of its flagship Galaxy smartphones powered by Google's Android software.

Samsung's bread-and-butter chip business saw its profit more than halve to 1.59 trillion won from a year earlier, but it held up well as its relatively high exposure to lucrative mobile chips helped the firm offset a sharp plunge in prices of commodity computer memory chips.

Samsung was the sole profitable firm among major global DRAM chip makers in the third quarter, analysts said. Second-ranked computer memory chip maker Hynix Semiconductor and Japan's Elpida Memory swung to deep losses as prices of dynamic random access memory (DRAM) chips used in PCs tumbled about 50 percent in the third quarter.

Samsung's display business posted losses for a third consecutive quarter, as weak demand for TVs and PCs failed to offset strong sales of smartphones.

The world's top maker of memory chips and No.2 maker of mobile phones reported a 4.25 trillion won operating profit for the July-September quarter, in line with its earlier estimate of 4.2 trillion won.

That was down from 4.9 trillion won a year ago but up from 3.8 trillion won the preceding quarter.

Samsung trails Nokia in mobile phones, competes with Sony Corp and LG Electronics Inc in TVs, and Toshiba, Hynix in chips and LG Display in displays.

Its shares were up 0.76 percent as of 0013 GMT, trailing the broader market's 1.79 percent rise.

Shares in Samsung, also the world's top TV maker, have dropped 3 percent so far this year, outperforming a 6 percent fall in the KOSPI.

($1 = 1115.250 Korean Won)

(Reporting by Hyunjoo Jin; Editing by Miyoung Kim and Jonathan Hopfner)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111028/tc_nm/us_samsung_result

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Saturday, October 29, 2011

Gaddafi son surrender would pose challenges to ICC (Reuters)

AMSTERDAM (Reuters) ? Negotiating the surrender of Saif al-Islam, the son of Libya's slain dictator Muammar Gaddafi, would present logistical and security challenges to the world's top war crimes court which will examine various possible scenarios to bring him to trial.

The International Criminal Court had charged Gaddafi, Saif al-Islam and Libya's former intelligence chief Abdullah al-Senussi with crimes against humanity for the bombing and shooting of civilian protesters in February.

A source with Libya's National Transitional Council said on Thursday Saif al-Islam wants an aircraft, possibly arranged by a neighboring country, to take him out of Libya's southern desert so he can turn himself in to the ICC.

If arranged, Saif al-Islam would be transported to The Hague where the ICC shares a detention unit with the U.N. Yugoslavia war crimes tribunal and the Special Court for Sierra Leone, where former Liberian president Charles Taylor is on trial.

The court is trying to confirm with the NTC whether Saif al-Islam wants to surrender and, if the information is confirmed, will consider the best measures for his transfer, ICC spokesman Fadi El Abdallah said.

"It depends on where the suspect is and how we can get into contact with him and what would be necessary to bring him to The Hague. There are different scenarios," El Abdallah said.

With no police force of its own, the ICC has relied in the past on state co-operation to have its suspects arrested and many of them have remained fugitives such as Sudan President Omar al-Bashir whose government has snubbed the court.

Still, the ICC assisted in transporting several Sudanese rebels to The Hague in recent years to face charges over the killing of 12 African Union peacekeepers in Darfur in 2007.

The Dutch authorities provide assistance to the Hague-based courts in the transfer of suspects to the detention center, such as when former Bosnian Serb military commander Ratko Mladic was flown to Rotterdam on a Serbian government plane.

Mladic was then transferred by the Dutch authorities by helicopter or car to the detention center in The Hague.

"The ICC itself is responsible for transfers to the Netherlands. Upon arrival of a suspect in the Netherlands, we give logistical support," a spokesman at the Dutch foreign ministry said.

If Saif al-Islam were to slip into Niger, an ICC member state, the Niger government has an obligation to arrest him, while Tunisia and Mali are also member states. Algeria is not.

"The question is to what extent these countries are ready to manage the pressure that will be put on them by an ICC transfer as it will have implications for them with other African countries," said Damien Helly at the European Union Institute for Security Studies.

The African Union has been critical of the ICC's focus on Africa and has opposed the arrest warrant for Sudan's Bashir, who has traveled to ICC member states Malawi, Chad, Kenya and Djibouti in the past without being arrested.

Surrendering to the court would, at the very worst, put Saif al-Islam in prison.

But Helly questioned whether Saif al-Islam was "desperately trying to save his life" or whether his offer to surrender was a way of buying time or bargaining to improve his situation.

DEFENSE

Once in The Hague, Saif al-Islam would be held at the ICC detention center, located near the beach in a leafy residential neighborhood in The Hague.

The detention center is built next to an old prison where Dutch resistance fighters were imprisoned by the Nazis and inmates have single-occupant cells about 10 square meters in size, where they can watch TV, read or work on their cases.

Each cell in the ICC wing contains a bed, desk, bookshelves, a cupboard, toilet, hand basin and a telephone, although calls are placed by the centre's staff. Detainees can work on their cases using computers but cannot access email or the internet.

They can engage in sports activities and other hobbies.

But if he arrives in The Hague, Saif al-Islam would be also required to appear in court for an 'initial appearance', where he would be formally charged and informed of his rights.

ICC prosecutor Luis Moreno-Ocampo accused Gaddafi, Saif al-Islam and al-Senussi of drawing up a "predetermined plan" to kill protesters and said that Gaddafi gave the orders, while Saif al-Islam organized the recruitment of mercenaries.

Peter Robinson, a legal adviser to former Bosnian Serb president Radovan Karadzic who is on trial at the Yugoslavia tribunal, also said Saif al-Islam should not try to defend himself by arguing he was just obeying orders.

"A person is required under international law not to obey an illegal order. It would not be useful for Saif al-Islam to defend himself on the grounds that he was just obeying orders from his father," Robinson said.

He said a more useful defense would be to argue that crimes were committed upon orders from lower-level commanders.

Geert-Jan Knoops, a Dutch-based international criminal law attorney, said Saif al-Islam could challenge the ICC case on two main fronts, arguing an "abuse of process" or by proving there is no evidence of a "political plan" to kill protesters.

He said Saif al-Islam could argue that the ICC prosecution was politically influenced and forced by the United Nations to achieve a regime change instead of protection of human rights in Libya. "It can be argued that the ICC prosecution and procedures are abused; in other words: abuse of process," Knoops said.

(Reporting By Aaron Gray-Block)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20111027/wl_nm/us_libya

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How 18th-Century Copiale Cipher Was Cracked

[unable to retrieve full-text content]A team of linguists applied statistics-based techniques to translate one of the most stubborn of codes, a German mix of letters and symbols.

Source: http://feeds.nytimes.com/click.phdo?i=1de668c89c8f2db59c2231cea0e234ad

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Friday, October 28, 2011

Game 6 thriller gets best Series rating since '09 (AP)

ST. LOUIS ? The Cardinals' thrilling 10-9, 11-inning victory over the Texas Rangers in Game 6 received the best World Series overnight television rating since 2009.

Thursday night's game got a 13.8 overnight rating and 23 share in the major markets, Fox said Friday. It was the highest-rated World Series game since the New York Yankees' Series clincher against Philadelphia got a 15.5 two years ago. It was the highest-rated game not involving the Yankees or Boston Red Sox since the finale of the 2005 Series between the Chicago White Sox and Houston received a 14.8/24.

The game received a 49.4/70 in St. Louis, with a share peaking at 82 in the final 30 minutes, and drew a 47.1/67 in Dallas.

The rating is the percentage of television households tuned to a program, and the share is the percentage watching among those households with TVs on at the time.

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20111028/ap_on_sp_ba_ne/bbo_world_series_ratings

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[OOC] Another fairy tale

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Thursday, October 27, 2011

Boys Should Get HPV Vaccine Too, CDC Says

[unable to retrieve full-text content]

A vaccine originally intended to prevent cervical cancer in girls should be given to boys as well, an advisory panel for the Centers for Disease Control and Prevention (CDC) said today (Oct. 25).

The panel voted to recommend the human papillomavirus (HPV) vaccine be given to boys ages 11 to 12. The vaccine is already recommended for girls of this age.

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Wednesday, October 26, 2011

Morgan Wilson, Top Chef Finalist, Indicted on Child Porn Charges


Morgan Wilson, the hothead who made it to the finals on season one of Top Chef, was indicted earlier this month on child porn charges, according to reports.

Three second-degree felony charges were filed October 6. Morgan stands accused of possession of the material with intent to promote child pornography.

Wilson was arrested December 7 “after undercover investigators received several file transfers from Wilson’s computer via Limewire in September 2010.

Morgan Wilson Mug Shot

The files allegedly contained "images and videos of children as young as toddlers engaged in sexual acts,” according to the Plano, Texas, Star-Courier.

Wilson, 38, was shown three images that were downloaded by investigators in an initial search and he admitted that he viewed the images to the police.

Wilson, whose employer (the Ritz Carlton Dallas) would not comment on his status as the executive pastry chef, was released from jail on a $10,000 bond.

He must not have access to any computer without monitoring software until further notice. He must appear before a judge to face the charges Thursday.

Source: http://www.thehollywoodgossip.com/2011/10/morgan-wilson-top-chef-finalist-indicted-on-child-porn-charges/

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Janet Jackson reschedules shows to be with family

In this Thursday, Oct. 13, 2011, photo, American singer Janet Jackson, performs at Yas Island, Abu Dhabi, United Arab Emirates. Janet Jackson announced Sunday, Oct. 23, 2011, that she is rescheduling part of her Australian tour so she can support her family during the trial of her brother Michael's doctor. Dr. Conrad Murray is charged with involuntary manslaughter in Michael Jackson's 2009 death. (AP Photo/Nousha Salimi)

In this Thursday, Oct. 13, 2011, photo, American singer Janet Jackson, performs at Yas Island, Abu Dhabi, United Arab Emirates. Janet Jackson announced Sunday, Oct. 23, 2011, that she is rescheduling part of her Australian tour so she can support her family during the trial of her brother Michael's doctor. Dr. Conrad Murray is charged with involuntary manslaughter in Michael Jackson's 2009 death. (AP Photo/Nousha Salimi)

(AP) ? Janet Jackson is rescheduling part of her Australian tour so she can support her family during the trial of the doctor accused of involuntary manslaughter in her brother Michael's death.

Dr. Conrad Murray is on trial in Los Angeles. He is accused of being negligent in his care of the superstar, who died in 2009 of an overdose of the anesthetic propofol at age 50.

The prosecution is wrapping up its case this week, and the defense is about to present its case. The Jacksons have been a regular presence at the trial; Janet Jackson was there at the beginning.

"When I planned these shows, the schedule in California was completely different," she said in a Sunday statement to The Associated Press. "After talking with my family last night, I decided we must be together right now. .... This saddens me in so many ways."

The shows for her "Number Ones" tour were scheduled in Melbourne on Wednesday, Thursday and Saturday; to make them up, she'll perform one night, on Nov. 3, in Rod Laver Arena. She thanked her fans for their support and understanding.

Jackson also has the support of her promoter.

"It is important that Janet is with her family at this critical point in the hearing. While Janet and our company apologize for any inconvenience for the reschedule of the Melbourne shows, we thank Janet for the great and successful concerts in Perth and Adelaide and eagerly await her return. ... Our thoughts and prayers are with Janet and the entire Jackson family," promoter Paul Dainty said.

___

Online:

http://www.janetjackson.com

___

Nekesa Mumbi Moody is the AP's music editor. Follow her at http://www.twitter.com/nekesamumbi

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2011-10-23-People-Janet%20Jackson/id-501f432748f642ada8b28012b27b38f8

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Tuesday, October 25, 2011

Tunnel tolls just the start (hamptonroads)

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Monday, October 24, 2011

Judge blocks Fla.'s new welfare drug testing law (AP)

ORLANDO, Fla. ? A federal judge temporarily blocked Florida's new law that requires welfare applicants to pass a drug test before receiving benefits on Monday, saying it may violate the Constitution's ban on unreasonable searches and seizures.

Judge Mary Scriven ruled in response to a lawsuit filed on behalf of a 35-year-old Navy veteran and single father who sought the benefits while finishing his college degree, but refused to take the test. The judge said there was a good chance plaintiff Luis Lebron would succeed in his challenge to the law based on the Fourth Amendment, which protects individuals from being unfairly searched.

The drug test can reveal a host of private medical facts about the individual, Scriven wrote, adding that she found it "troubling" that the drug tests are not kept confidential like medical records. The results can also be shared with law enforcement officers and a drug abuse hotline.

"This potential interception of positive drug tests by law enforcement implicates a `far more substantial' invasion of privacy than in ordinary civil drug testing cases," said Scriven, who was appointed by President George W. Bush.

The judge also said Florida didn't show that the drug testing program meets criteria for exceptions to the Fourth Amendment.

The injunction will stay in place until the judge can hold a full hearing on the matter. She didn't say when that hearing will be scheduled.

More than two-dozen states have also proposed drug-testing recipients of welfare or other government assistance, but Florida was the first state to enact such a law in more than a decade. Should any of those states pass a law and face a court challenge, Scriven's ultimate ruling would likely serve as a legal precedent.

The law's proponents include Gov. Rick Scott, who said during his campaign the measure would save $77 million. It's unclear how he arrived at those figures. A spokesman for the Florida Department of Children and Families deferred all comments to the governor's office.

"Drug testing welfare recipients is just a common-sense way to ensure that welfare dollars are used to help children and get parents back to work," said Jackie Schutz, a spokeswoman for Scott. "The governor obviously disagrees with the decision and he will evaluate his options regarding when to appeal."

Earlier this year, Scott also ordered drug testing of new state workers and spot checks of existing state employees under him. But testing was suspended after the American Civil Liberties Union also challenged that policy in a separate lawsuit.

Nearly 1,600 applicants have refused to take the test since testing began in mid-July, but they aren't required to say why. Thirty-two applicants failed the test and more than 7,000 have passed, according to the Department of Children and Families. The majority of positives were for marijuana.

State officials said Monday that applicants previously denied benefits for testing positive or refusing the test could reapply immediately. The Department of Children and Families will also approve all pending applications that await drug test results.

Supporters had argued applicants skipped the test because they knew they would have tested positive for drugs. Applicants must pay $25 to $35 for the test and are reimbursed by the state if they pass. It's unclear if the state has saved money.

Under the Temporary Assistance For Needy Families program, the state gives $180 a month for one person or $364 for a family of four.

Those who test positive for drugs are ineligible for the cash assistance for one year, though passing a drug course can cut that period in half. If they fail a second time, they are ineligible for three years.

Lebron, who is the sole caretaker of his 4-year-old son, said he's "happy that the judge stood up for me and my rights and said the state can't act without a reason or suspicion."

The ACLU says Florida was the first to enact such a law since Michigan tried more than a decade ago. Michigan's random drug testing program for welfare recipients lasted five weeks in 1999 before it was halted by a judge, kicking off a four-year legal battle that ended with an appeals court ruling it unconstitutional.

___

Kennedy reported from Miami.

Source: http://us.rd.yahoo.com/dailynews/rss/crime/*http%3A//news.yahoo.com/s/ap/20111025/ap_on_re_us/us_welfare_drug_testing

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Sunday, October 23, 2011

Some stores freezing out Ben & Jerry's new flavor (Providence Journal)

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Top Gear: News drives Android Apps of the Week (Appolicious)

The British invasion made its way to the Android Market with BBC launching a Top Gear: News app for car lovers. Lifestyle apps are making waves too, with HauteLook revealing its new Android app. For mobile banking, U.S. Bank finally joined the Android party, while MyMobi lets you keep tabs on your family members on-the-go. The iPhone 4S?s Siri sparked interest in voice-activated assistant apps, and Sonalight?s Text By Voice gained some extra attention this week.

American love for the BBC grows stronger every day, as the British network debuts several television shows in the US, and a slew of Android apps to match. From fun Doctor Who games to straight-laced news apps, BBC is growing its footprint in the Android Market. It?s latest is Top Gear: News, an app I?m pretty excited about as a lifelong car lover. The app delivers daily updates, videos and opinions from the snobbish trio, along with exclusives and previews of upcoming shows. Best of all there?s recent reviews for tested cars, giving you a ?real? look at the vehicles that make the world go ?round.

U.S. Bank joins a long line of financial institutions with Android apps, enabling mobile banking for millions of users across the nation. Deposit checks, pay your bills, check account balances and transfer funds between accounts. There?s also an ATM locator and an account view to drill down on transactions, helping you manage your money anytime, anywhere. It?s become standard for a bank to offer an Android solution, so this week?s launch is surely a perk for the many U.S. Bank customers out there.

More flash sale sites are finding their way to the Android Market, HauteLook being the latest. With members-only prices and 48-hour sales events, this new app makes sure you don?t miss out on deep discounts from top designers. Get alerted as soon as a sale hits, with browsing and purchasing options directly from your phone. View a gallery of past purchases and preview upcoming events. HauteLook is the latest in a growing sector of flash sales apps for Android, following the recent launch of Fab.com?s Android app.

Augmented Reality is finding more use cases as mobile devices become more prevalent in our everyday lives. iOnRoad is a car safety app that uses your Android camera and real time imaging to detect cars in front of you. It measures time gaps to warn you of upcoming dangers, helping you avoid crashes. iOnRoad is an example of how AR can be used to replicate built-in features found in many cars these days, saving you money and enhancing the broadening capabilities of the Android device itself. iOnRoad works best with a car mount holder, leveraging the company?s RoadAware algorithm to create a safe alternative any driver can use.

Siri is a fun tool for iPhone 4S users, but Fandroids aren?t ones to be left out. Sonalight?s Text by Voice is an app that leverages speech recognition to help you complete tasks on your phone without touching it or even looking at the screen. The app is specific to text message management (it?s not a personal assistant), but it will promote safe driving habits with the ability to read incoming text messages and jot down your replies. You can set an auto-responder for incoming texts, and enable the app to auto-launch when you start driving.

With the school season in full swing and Halloween right around the corner, there?s no better time to grab a family locator app to keep tabs on your kids. The Moby Android app is designed to let family members stay in touch, creating a private family locator to show everyone?s location on a map in real-time. You can check-in to locations, alert family members of an emergency and streamline communication. With an emphasis on privacy, MyMoby also takes your device?s battery life into consideration, optimizing the app for phones in use or idle mode.

Download the free Appolicious Android app

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//us.rd.yahoo.com/dailynews/external/appolicious_rss/rss_appolicious_tc/http___www_androidapps_com_articles9965_top_gear_news_drives_android_apps_of_the_week/43332248/SIG=12t10q070/*http%3A//www.androidapps.com/tech/articles/9965-top-gear-news-drives-android-apps-of-the-week

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Saturday, October 22, 2011

Blatter prepares to unveil FIFA reform plan

By GRAHAM DUNBAR

AP Sports Writer

Associated Press Sports

updated 1:04 p.m. ET Oct. 19, 2011

ZURICH (AP) -Sepp Blatter is preparing to deliver long-awaited reforms to try to repair football's battered reputation, and the FIFA president may start by finally naming the senior officials accused of taking kickbacks in the 1990s.

Blatter promised zero tolerance of corruption after winning a fourth and final four-year term in June in an election that was rocked by the worst bribery scandal in the governing body's history.

That scandal in the Caribbean, which Blatter was accused of helping orchestrate to ensure victory, removed continental presidents Mohamed bin Hammam and Jack Warner from FIFA's high command, and added to allegations of vote-rigging, secret payments, ticket scams and unethical favors that have long shrouded FIFA.

Now, the case of FIFA's former marketing agency which collapsed in 2001 has come under renewed scrutiny in Switzerland and Brazil. The issue threatens to cast harsh light on Blatter's predecessor, Joao Havelange; the head of Brazil's 2014 World Cup organizers, Ricardo Teixeira; and two more continental bosses, Nicolas Leoz and Issa Hayatou.

Blatter will present his plans at a two-day executive committee meeting starting Thursday, which will also weigh whether to reveal which football officials received millions of dollars in kickbacks from the ISL agency.

FIFA is currently stopping a Swiss court from releasing documents which confirm who took payments, but that legal battle has been complicated by Brazilian investigators seeking details as they probe Teixeira over possible money-laundering offenses.

Blatter's challenge to lead FIFA toward a more credible future therefore involves confronting an often murky past.

Still, 208 football nations entrusted him with the clean-up task, after having had effective executive control of FIFA for 30 years in which its wealth, political influence and notoriety has surged.

"I am the captain of the ship," Blatter told his Congress in June, pledging to put FIFA "back on the right course in clear transparent waters."

FIFA has sought help from Transparency International, a global watchdog which advises governments and corporations how to lead honestly.

"I am very optimistic," TI's sports adviser Sylvia Schenk told The Associated Press in a telephone interview. "I think there will be some good proposals and we will see what those proposals are on Friday."

In August, TI presented a wish-list of reforms and asked FIFA to order independent probes of past allegations to overcome a "crisis of trust." Topping the list was ISL, which could yet define Blatter's presidential era.

FIFA "could help to end, or at least accelerate," the release of court documents, the report said.

Although commercial bribery was not a crime in Switzerland during ISL's time, six agency staff stood trial in 2008 for financial misdeeds and Paraguayan Leoz was named in court.

Two senior football officials repaid kickbacks worth 5.5 million Swiss francs ($7 million) last year but FIFA has blocked a court in Zug from identifying them.

British broadcaster the BBC has reported that the documents name Havelange and his former son-in-law Teixeira.

Africa's football president Hayatou, of Cameroon, also was identified as taking ISL payments, which he said were for his confederation. Havelange and Hayatou, both IOC members, are being investigated by the Olympic body's ethics commission using BBC evidence.

Schenk's team wants FIFA to improve democracy by including all football's stakeholders - clubs, leagues, players, match officials, fans, sponsors and media - in making decisions.

TI believes FIFA should modernize how it investigates wrongdoing, with a revamped ethics committee given independence to launch and prosecute cases.

Financial transparency should include clearer annual reports that detail salaries and bonuses, which should be set by an independent panel, the reform report said.

FIFA also should open big decisions on awarding World Cup hosting rights and broadcast deals to more external scrutiny, TI suggested.

Yet Blatter's mandate in June included a request from his members, who saw their FIFA funding increase on his 13-year watch, to find solutions within the family.

The willingness of 75-year-old Blatter to reshape the organization he has served for almost half his life, and his own legacy, will be tested Friday.

? 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Rooney shines

Wayne Rooney made two penalty kicks Tuesday to lead 10-man Manchester United a 2-0 road victory over the Romanian club Otelul Galati in the Champions League.

Source: http://nbcsports.msnbc.com/id/44960182/ns/sports-soccer/

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Friday, October 21, 2011

Citigroup to pay $285 million to settle fraud case (Reuters)

(Reuters) ? Citigroup Inc will pay $285 million to settle charges that it defrauded investors who bought toxic housing-related debt that the bank bet would fail, the U.S. Securities and Exchange Commission said on Wednesday.

The SEC said the bank's Citigroup Global Markets unit misled investors about a $1 billion collateralized debt obligation by failing to reveal it had "significant influence" over the selection of $500 million of underlying assets, and that it took a short position against those assets.

It said one experienced CDO trader called the portfolio "possibly the best short EVER!" while an experienced collateral manager said "the portfolio is horrible."

According to the regulator, the CDO, Class V Funding III, defaulted in November 2007, fewer than nine months after it closed, leaving investors with losses even as Citigroup made $160 million of fees and profits.

"The securities laws demand that investors receive more care and candor than Citigroup provided," SEC enforcement chief Robert Khuzami said in a statement.

Citigroup settled with the SEC without admitting wrongdoing. The SEC also filed charges against Brian Stoker, who it said was the Citigroup employee primarily responsible for structuring the transaction.

Neither Citigroup nor a lawyer for Stoker were immediately available to comment.

The SEC said it settled separate charges against Credit Suisse Group AG's asset management unit, which was the collateral manager for the CDO, as well as Samir Bhatt, the Credit Suisse portfolio manager mainly responsible for it.

Credit Suisse will pay $2.5 million to settle, while Bhatt agreed to a six-month suspension from associating with an investment adviser, the SEC said. Neither admitted wrongdoing.

The settlement is the third by the SEC against a major bank it accused of marketing a CDO, and then betting against it or allowing others to do so.

In June, JPMorgan Chase & Co agreed to a $153.6 million settlement over the Squared CDO 2007-1, while Goldman Sachs Group Inc in July 2010 accepted a $550 million accord over the Abacus 2007-AC1 CDO.

As part of the settlement, Citigroup will give up the $160 million of alleged improper fees and profits plus $30 million of interest, and pay a $95 million fine.

The settlement requires court approval. The case was assigned to U.S. District Judge Jed Rakoff in Manhattan, who chastised the SEC and ultimately rejected its proposed $33 million settlement in 2009 with Bank of America Corp over that bank's purchase of Merrill Lynch & Co. He later grudgingly approved a revised $150 million accord.

(Reporting by Karey Wutkowski in Washington, D.C., and Jonathan Stempel and Grant McCool in New York; Editing by Tim Dobbyn)

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/nm/20111019/bs_nm/us_citigroup_sec

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Scarlett Johansson and Joseph Gordon-Levitt: New Couple Alert?


Scarlett Johansson was been linked to yet another guy.

This time her rumored love interest is actor Joseph Gordon-Levitt, star of one of the fall's most memorable films (see some of the best 50/50 quotes).

"They were kissing," an eyewitness says of the couple's recent NYC run-in. "They were very lovey." It wasn't the first time either, we're hearing ...

Scarlett Johansson Bed HeadJoseph Gordon-Levitt Pic

Scarlett Johansson, 26, and Joseph Gordon-Levitt, 30, hit the town together at Hundred Acres in NYC's SoHo area in late July. Clearly they're close.

A source says they have "discussing a project for a while [but] have never kissed," another insider explains that it started out that way, however:

"They first met about a film, but it's gone beyond that now."

A Johansson pal insists there's "nothing serious" going on between the stars ... yet. She's also been linked to Kieran Culkin within the last month.

[Photos: WENN.com]

Source: http://www.thehollywoodgossip.com/2011/10/scarlett-johansson-and-joseph-gordon-levitt-new-couple-alert/

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