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Sep 24 2011

Evening Edition

Evening Edition is an Open Thread

Now with 41 stories.

From Yahoo News Top Stories

1 G20 assurances fail to convince markets

By Paul Handley, AFP

4 hrs ago

Assurances by the world’s leading powers that they are moving to stabilize the global economy failed to convince Friday, as markets sank again in impatience for more convincing action.

A surprise late-night communique from Group of 20 finance ministers and central bankers Thursday recognized the sense of urgency, after a day of intense warnings from leaders around the world, including a number of the elite group’s own members.

But it failed to quell worries that the stumbling US economy and the European debt crisis would return the advanced economies to recession and drag down economic growth around the world.

2 World may see ‘collapse of demand’: Lagarde

By Veronica Smith, AFP

2 hrs 8 mins ago

International Monetary Fund chief Christine Lagarde warned Friday that the world could see demand evaporate if the United States and Europe fail to put their ailing economies back on track.

“Today, if there is no collective rapid action we run the risk of losing the battle for growth,” Lagarde said in a speech at the opening session of the IMF and World Bank annual meetings in Washington.

“There are dark clouds over Europe and there is huge uncertainty in the United States and, with that, we could risk the collapse in global demand.”

3 Commodity prices slump as investors seek dollar safety

AFP

2 hrs 8 mins ago

Commodity prices tumbled this week, mirroring the situation on global stock markets, as fears of a new worldwide recession amid a worsening eurozone debt crisis saw investors seek refuge in the dollar.

The US Federal Reserve on Wednesday warned of significant downside risks to the American economy, sparking a fierce selloff on global markets.

G20 leaders meanwhile urged the eurozone to tackle its debt crisis to prevent contagion spreading across the world, while similar warnings were sounded by the European Central Bank, the World Bank and the International Monetary Fund.

4 US demands Pakistan act against Haqqani insurgents

By Tangi Quemener, AFP

1 hr 48 mins ago

The United States demanded Friday that Pakistan “break any link they have” with the insurgent group that attacked the US embassy in Kabul and take immediate action against them.

The White House statement came a day after the top US military officer, Admiral Mike Mullen, directly accused Pakistan’s intelligence service of supporting the Haqqani network’s attack on the embassy and a truck bombing on a NATO outpost.

Pakistan reacted angrily, saying the humiliating public attack was “not acceptable” and warned that Washington stood to lose a vital ally.

5 Yemen’s Saleh returns from Saudi as battles rage

By Hammoud Mounassar, AFP

19 hrs ago

Yemeni President Ali Abdullah Saleh returned to Sanaa on Friday after more than three months of medical treatment in Saudi Arabia, even as his forces were battling dissident troops in the capital.

Saleh’s surprise return was announced by state television. He arrived by plane in Sanaa at 5:00 am (0200 GMT), an airport source told AFP.

The 69-year-old Saleh, who has since January faced massive street protests demanding he step down, was hospitalised in Riyadh on June 4, a day after being badly wounded in a bomb attack on his Sanaa compound.

6 More deaths as sanctions on Syria widened

AFP

2 hrs 49 mins ago

At least nine deaths were reported in Syria on Friday, a traditional day for protests, as the EU and Switzerland both said they were widening sanctions against the regime of President Bashar al-Assad.

The Britain-based Syrian Observatory for Human Rights said in a statement that nine civilians were shot dead by security forces in the Homs area in the centre of the country.

“Nine civilians were killed in the Homs region: six in three districts of the city itself, a girl in Qusseir, a young man in Talbisseh and another in the village of Zaafaraniya,” the rights group said.

7 India shrugs off China warnings on oil exploration

By Penny MacRae, AFP

1 hr 32 mins ago

Shrugging off Chinese warnings, India’s state-run oil firm ONGC said on Friday it would press ahead with long-term partner Vietnam in exploring the disputed South China Sea for oil.

The plans have stoked concerns that the exploration could exacerbate tensions between fast-growing neighbours China and India, who fought a brief, bloody war in 1962 over their disputed Himalayan border.

China has repeatedly said it has “indisputable sovereignty” over essentially all of the South China Sea, a key trading route, and that Beijing is opposed to any country engaged in oil and gas exploration there without its permission.

8 US partisan clash threatens disaster aid

AFP

1 hr 40 mins ago

Polarized US lawmakers angrily feuded Friday over a stopgap spending measure to avert an October 1 partial government shutdown and replenish a disaster relief fund set to run dry by next week.

The Democratic-held Senate voted 59-36 to table, or set aside, a measure passed 219-203 overnight by the Republican-led House of Representatives, angry that the bill pays for disaster aid with cuts to clean-energy jobs monies.

Both sides in the woefully unpopular US Congress vowed to stand their ground on the legislation, which includes monies to keep the US government open past the end of the fiscal year that ends October 1, through November 18.

9 Boxing probed over multi-million graft claims

AFP

39 mins ago

The tarnished image of Olympic boxing faced fresh scrutiny on Friday over allegations that multi-million dollar bribes were paid to ensure fighters from Azerbaijan won gold medals at the 2012 Games in London.

An investigation by BBC’s Newsnight programme alleged that $9 million was paid by an Azeri national to organisers of the International Amateur Boxing Association (AIBA)’s World Series of Boxing (WSB).

The money was allegedly paid to secure gold medals for Azeri fighters competing at next year’s Olympics.

10 Australia hammer USA in Rugby World Cup

By Talek Harris

AFP – 19 hrs ago

Australia ran riot with a resounding 67-5 win over the United States on Friday but at the cost of a raft of injuries which cast further doubt over their World Cup hopes.

Rob Horne broke a cheekbone, Pat McCabe dislocated his shoulder and Anthony Fainga’a was knocked cold by a knee to the head. Wycliff Palu suffered a hamstring problem and Kurtley Beale was an early withdrawal after “tightening up”.

Coach Robbie Deans said he was considering calling up replacements after the savage injury toll, which comes just a week after defeat to Ireland complicated the team’s progress through the knock-out stages.

11 Vettel coy after topping Singapore times

By Gordon Howard, AFP

2 hrs 42 mins ago

Sebastian Vettel posted the fastest time for Red Bull in Friday’s second free practice session but played down its likely impact on his chances of retaining his title in Singapore.

The 24-year-old German, who could become the youngest two-time champion in Formula One history this weekend, said he expected a tight contest ahead and suggested his early edge in speed meant little.

“I wouldn’t call it an advantage, I think it looked pretty tight. It depends where and when and who was out, we have to wait and see,” he said.

12 Countdown to impact: Space junk hurtles towards Earth

By Kerry Sheridan, AFP

3 hrs ago

The biggest piece of US space junk to fall in 30 years could hit Earth late Friday or early Saturday, NASA said as it struggled to predict where and when the defunct satellite would crash.

NASA stressed that the risk is “extremely small” that the 26 fragments expected to survive re-entry would hit any of the planet’s seven billion people.

As rumors of potential crash sites lit up the Internet, Italy took the unusual step of warning residents to stay indoors late Friday to avoid a 1.5 percent risk of the six-ton satellite hitting the northern part of the country.

13 Europe hastens to build up debt crisis defenses

By Marc Jones and David Lawder, Reuters

35 mins ago

WASHINGTON (Reuters) – European policymakers are quickening their preparations to cope with an escalation of the region’s debt crisis as talk of a possible Greek default gained pace on Friday.

Finance chiefs from around the world have turned up the heat on Europe to do more to prevent Greece’s debt crisis from infecting the world economy.

Concern now appeared to be turning toward safeguarding the banking system more than rescuing Greece, as international lenders were increasingly losing patience with Athens consistently missing fiscal and reform targets.

14 Greece says not seeking new way out of crisis

By Lefteris Papadimas and Renee Maltezou, Reuters

6 hrs ago

ATHENS (Reuters) – Greece sought to play down reports on Friday that it was considering a solution to its debt crisis involving bigger losses for its banking creditors, while a fresh round of strikes gripped the country in protest against new austerity measures.

Parliament is likely to approve the moves, which include unpopular new taxes, to secure the next tranche of the heavily indebted nation’s EU and IMF bailout, avoiding a disorderly default that would rock the euro zone, political analysts said.

Popular resistance to the cutbacks is raging, however, reflected by strikes that brought the transport system to a standstill on Thursday, with unions arguing that Greece’s economy cannot cope with the terms of the deal imposed on it.

15 G20 pledges bank support, eyes bolder euro fund

By Jan Strupczewski and Daniel Flynn

Reuters

2 hrs 23 mins ago

WASHINGTON (Reuters) – The world’s major economies on Thursday pledged to prevent Europe’s debt crisis from undermining banks and financial markets, and said the euro zone’s rescue fund could be bolstered.

Under pressure from investors to show action, finance ministers and central bankers from the Group of 20 economies said they would take all steps needed to calm the global financial system.

“We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required,” the group, including the United States and China, said in a communique after a dinner meeting on Thursday.

16 WTO cuts trade growth forecast, cites economic turmoil

By Robert Evans, Reuters

2 hrs 39 mins ago

GENEVA (Reuters) – The World Trade Organization, citing turmoil in the global economy, on Friday cut its forecast for the growth of trade in 2011 from the 6.5 per cent it predicted in April to 5.8 per cent, and warned that the final figure could be lower.

The WTO said the move reflected the fact that trade had grown more slowly than expected in recent months “and the outlook for the global economy is increasingly uncertain.”

Since the April forecast, it said, “developed economies in particular have been buffeted by strong headwinds.”

17 Latvia teaches austerity pain and gain to Greece

By Nerijus Adomaitis and Mia Shanley, Reuters

2 hrs 45 mins ago

RIGA (Reuters) – Latvia’s lesson for Greece is that harsh austerity is unavoidable to remedy years of over-indulgence but the vast social differences between the two countries suggest it may be lost on ordinary Greeks.

Latvians, having suffered two years of a strict diet under IMF/EU orders, can attest to plenty of pain which was largely accepted with stoicism. With people starting to see the economy being brought back to health, they can now see the gain too.

In Greece, outrage among a public more used to the good life is already at fever pitch, testing the government’s ability to push through the stringent measures it needs to cut a mountainous debt and avoid default.

18 Analysis: Time running out on Athens’ troika two-step

By Luke Baker and John O’Donnell, Reuters

2 hrs 44 mins ago

BRUSSELS (Reuters) – Each time, the story is the same: Greece makes budget commitments, its creditors warn it is in danger of missing them, Athens promises a renewed effort, and just in time, everyone agrees the targets were met.

Over the 17 months since Greece was granted 110 billion euros of emergency loans by the IMF and European Union, five loan tranches have been paid out despite Athens’ patchy success in delivering on its goals.

The 6th tranche is due in mid-October and again looks likely to be paid, if only because the impact on the euro zone and global economy is too dangerously unquantifiable if not. Greece is falling far short on objectives but will again get its money.

19 Costly bank hole looms as Greeks mull crisis plans

By Steve Slater, Reuters

2 hrs 42 mins ago

LONDON (Reuters) – Europe’s banks could face a capital shortfall of hundreds of billions of euros if Greece forces them to slash the value of its debt by 50 percent and other troubled euro zone countries like Italy and Ireland follow suit.

Pressure on Europe to shore up its banks — if necessary with capital from taxpayers’ pockets — is building, as talk of a possible Greek default gains pace.

Banks could probably cope with a Greek default — analysts at Nomura put the damage to foreign banks at 40 billion euros ($54 billion ) — but markets are already focusing on bigger countries and debt writedowns right across the region.

20 ECB gears up to give banks one-year liquidity

By Marc Jones, Reuters

2 hrs 40 mins ago

WASHINGTON (Reuters) – The European Central Bank will reintroduce its 12-month liquidity operations to help banks with longer-term fundraising and to reduce jitters in the markets, policymakers indicated on Friday.

Dovish central banker comments also increased analyst and market expectations of an impending interest rate cut, with some seeing a 50 basis point fall as soon as next month, although such a move remains far from certain.

ECB Governing Council member Jens Weidmann said on Friday the ECB had shown in the past that it can provide banks with long-term one-year liquidity when needed, with his colleagues from Austria and Belgium also talking up such a measure.

21 Gold slumps record $100; stocks edge up

By Wanfeng Zhou, Reuters

1 hr 42 mins ago

NEW YORK (Reuters) – Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.

Trading was volatile, capping one of the most tumultuous weeks on record for world markets as fear of a Greek default and a gloomy Federal Reserve prognosis for the U.S. economy sparked a sell-off in stocks and commodities and drove investors to the safe-haven U.S. dollar and Treasuries.

A pledge by G20 policy makers that they will calm the global financial system failed to appease investors, who are concerned that authorities are unable to respond effectively to the mounting euro zone debt crisis and sluggish growth in major world economies.

22 Analysis: Bernanke’s twist may do little for jobs

By Ann Saphir, Reuters

2 hrs 22 mins ago

(Reuters) – The Federal Reserve’s latest effort to push down long-term U.S. borrowing costs may not do much for the central bank’s main worry — persistently high unemployment that could leave lasting scars on the economy.

Economists are increasingly anxious that the 9.1 percent jobless rate in the United States could become entrenched, as the skills of those out of work atrophy and their connections to the job market wane, sidelining them and chipping away at the U.S. economy’s capacity to produce.

“The Fed is doing all that it can to stimulate the demand side of the economy in an environment where ‘all that it can do’ is ‘not very much,'” said Mark Setterfield, an economics professor at Trinity College in Hartford, Conn.

23 Insight: Fed’s new rate policy twists insurers into a knot

By Ben Berkowitz, Reuters

2 hrs 20 mins ago

NEW YORK (Reuters) – The Federal Reserve’s latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country’s largest insurers for years to come.

Wall Street in the past week has dimmed its view of MetLife , Prudential Financial and other big insurers, forecasting that they will have to cope with low rates and weak market returns through the end of 2011 and possibly well beyond.

The problem is that returns on insurers’ investment portfolios can’t keep pace with the obligations they have accumulated from torrid sales of annuities and life policies over the past few years.

24 Analysis: Fed’s twist moves hurts company pension plans

By Aaron Pressman, Reuters

2 hrs 23 mins ago

BOSTON (Reuters) – The Federal Reserve’s ‘Operation Twist’ to bring down bond yields and stimulate the economy is likely to cause pain for the nation’s largest pension funds, already struggling with funding shortfalls from the recent stock market decline.

Hit both by falling stock prices and falling bond yields, the 100 largest pension plans of public U.S. companies have assets covering only 79 percent of their liabilities as of the end of August, down from 86 percent at the end of 2010, according to consulting firm Milliman Inc.

Already approaching its all-time low of 70.1 percent in August, 2010, the funding ratio could fall below 60 percent within two years if equities stagnate and rates decline further, Milliman projected.

25 Williams raises questions on Fed’s latest move

By Ann Saphir, Reuters

12 mins ago

CHICAGO (Reuters) – Just days after the Federal Reserve launched a new round of unconventional monetary policy easing, a top Fed official with a record of supporting such moves on Friday questioned how effective the latest move will be.

John Williams, president of the San Francisco Federal Reserve Bank, defended the track record of the Fed’s large-scale bond purchases in lowering long-term borrowing costs, but he said it was unclear how much the purchases help the real economy.

“Specifically, does lowering Treasury yields through large-scale asset purchases have the same effect on the economy as an equivalent movement in the federal funds rate?” Williams said in a speech to the Swiss National Bank Research Conference in Zurich. “To what extent is it the size or the composition of the central bank’s balance sheet that matters?”

26 Citi’s Pandit suggests new way to gauge risk

By Dave Clarke, Reuters

2 hrs 27 mins ago

WASHINGTON (Reuters) – To protect the international financial system, regulators should rely more on a benchmark portfolio as a tool to guard against excessive risk-taking, rather than the capital standards now in use, Citigroup Chief Executive Vikram Pandit said on Friday.

Pandit said that capital rules, such as the international Basel agreements, are not transparent and do not give investors a good idea of how much risk a bank is facing.

Pandit said that under the current capital rules it is difficult to tell whether two banks who claim to be meeting the same standard are “equally risky.”

27 Libya NTC says to announce "crisis" government in days

ReutersBy Emad Omar and Alexander Dziadosz | Reuters – 35 mins ago

BENGHAZI/SIRTE, Libya (Reuters) – Libya’s interim rulers said on Friday they would announce a “crisis” government within the next few days, signaling a breakthrough in efforts to form a more inclusive administration after the war that ousted Muammar Gaddafi.

“We’ve agreed on a number of portfolios and who would hold the most important ones. There will be 22 portfolios and one vice premier,” said Abdel Hafiz Ghoga, a spokesman for the National Transitional Council (NTC).

“It will be a compact government, a crisis government.”

28 Special Report: How to win business in Libya

By Emma Farge, Lorraine Turner and John Irish, Reuters

13 hrs ago

BENGHAZI, Libya (Reuters) – In August, as rebels fought forces loyal to President Muammar Gaddafi, two representatives of a British business consortium took a “rather long and arduous ferry journey from Malta” to the North African country.

“To describe it as a ferry would be very polite,” according to an executive at a London-based global engineering company, whose interests the two men represented. “I think it was a trawler.”

The men traveled to Libya at the invitation of the rebel administration. Britain, along with France and the United States, had given political and military support for the uprising against Gaddafi and sponsored the rebel leadership, the National Transitional Council (NTC). This was a chance to close some deals.

29 Lawyer to start News Corp action in U.S.

By Avril Ormsby and Grant McCool, Reuters

1 hr 1 min ago

LONDON/NEW YORK (Reuters) – The board of News Corp was threatened with legal action in the United States by a British lawyer acting for phone-hacking victims, potentially opening a new legal front against the company.

A U.S. lawsuit against News Corp’s directors could be a new embarrassment for the company as it tries to put the News of the World tabloid hacking scandal behind it. Civil claims damages in the United States, where News Corp is based, also tend to be much higher than in Britain.

Mark Lewis, who represents the family in the high-profile case of murdered schoolgirl Milly Dowler, said on Friday he held talks with lawyers in New York about seeking depositions, potentially against the entire board, which he thought would include Rupert Murdoch and his son James.

30 Prosecutors show grisly photos as Knox trial resumes

By Deepa Babington, Reuters

3 hrs ago

PERUGIA, Italy (Reuters) – Italian prosecutors displayed gruesome crime scene photos on Friday in an attempt to keep American student Amanda Knox in jail for the murder of her British housemate during an alleged drug-fueled sex game.

The courtroom in the central Italian town of Perugia was packed for the final stages of Knox’s appeal trial in a sensational case that has grabbed headlines in Italy, Britain and the United States.

Knox, 24, looked pale and nervous as she was ushered into a courtroom besieged by television cameras and curious onlookers in the historic university town where Meredith Kercher’s half-naked body was found in a pool of blood in 2007.

31 Big-name celebs irk Ottawa in pipeline debate

By Julie Gordon, Reuters

2 hrs 29 mins ago

TORONTO (Reuters) – Canada’s energy minister shot back on Friday at Hollywood celebrities protesting a plan to build a $7 billion oil pipeline to Texas from Alberta in the first public indication that the protests are getting under Ottawa’s skin.

Joe Oliver, the minister in charge of energy, said increasingly vocal critics opposing the project on environmental grounds may become a threat to his government’s plans to cement Canada as the dominant North American energy supplier.

“Criticism of the oil sands – and now the proposed Keystone XL pipeline – is a major concern for us, with implications for our energy industry, our economy and our energy security,” Oliver told a business audience in Toronto.

32 Congress delays budget fight until Monday

By Andy Sullivan, Reuters

2 hrs 46 mins ago

WASHINGTON (Reuters) – The Congress set the stage for another last-minute budget showdown as lawmakers delayed action on a broad spending bill until Monday, shortly before disaster relief funds will run out completely.

This time, the brinkmanship threatens to disrupt assistance to victims of floods, wildfires and other natural disasters in one of the most extreme years for weather in U.S. history.

That money could run out as soon as Tuesday, but Republicans and Democrats appeared no closer to a solution after a week of legislative maneuvering.

33 Perry takes fire on immigration at debate

By Steve Holland and Jane Sutton, Reuters

18 hrs ago

ORLANDO, Florida (Reuters) – Republican Rick Perry took heavy fire from his rivals over a Texas policy that aids illegal immigrants at a presidential debate on Thursday where he struggled to protect his front-running position.

Texas Governor Perry attempted to change the narrative from two previous debates, where he came under fierce attack from former Massachusetts governor Mitt Romney and other candidates.

But his competitors accused Perry of coddling illegal immigrants with a Texas policy to allow their children to gain education tuition assistance.

34 Obama to loosen education law, cites flaws

By Lisa Lambert, Reuters

2 hrs 45 mins ago

WASHINGTON (Reuters) – President Barack Obama on Friday announced steps to roll back key provisions of “No Child Left Behind,” calling the decade-old U.S. education law admirable but flawed.

The law, signed by President George W. Bush in 2002, was intended to hold schools and states accountable for students’ performance, as measured by annual testing.

But critics say the law is inflexible, requiring teachers to adhere to a narrow curriculum targeted mostly at ensuring that every student pass standardized tests. They also say it has placed too large a burden on states.

35 FCC makes its net neutrality rules official

By Peter Voskamp, Reuters

2 hrs 46 mins ago

LOS ANGELES (TheWrap.com) – The Federal Communication Commission’s net neutrality rules were made official on Friday morning, with their publication in the Federal Register.

As already announced, they will go into effect on November 20.

The publication was greeted with praise, some of it tempered, from consumer advocacy groups, and outright derision by at least one Republican lawmaker.

36 BP files first Gulf drill plan since Macondo

By Bruce Nichols, Reuters

1 hr 46 mins ago

HOUSTON (Reuters) – BP confirmed on Friday it has filed a plan with U.S. regulators to pursue its first new deepwater oil exploration work in the Gulf of Mexico since the disastrous Macondo spill in 2010.

The plan, filed with the Bureau of Ocean Energy Management, Regulation and Enforcement, is BP’s first move to return to deepwater Gulf exploration since its Macondo well ruptured on April 20, 2010, and caused nearly 5 million barrels of oil to spew into the sea in what was the worst U.S. marine oil spill.

The supplemental exploration plan will be a key litmus test for how U.S. regulators treat BP, the biggest Gulf oil producer, in the post-Macondo world.

37 Bill Gates backs financial transaction tax to aid poor

By Lesley Wroughton, Reuters

2 hrs 30 mins ago

WASHINGTON (Reuters) – A report by Microsoft founder Bill Gates to Group of 20 ministers on Friday proposes raising new funding for poorer countries by taxing financial transactions, tobacco, and shipping and aviation fuels, according to details of a G20 report obtained by Reuters.

The Gates Foundation was tasked by current G20 chair, France, to look at how the governments of its member countries could raise new money for aid to developing nations, including plugging an estimated $80-100 billion funding gap to help the poor adapt to climate change.

With traditional Western donors in Europe and the United States under pressure to cut their budgets, developing nations are looking at news ways to raise resources to develop their growing economies.

38 Long-delayed Boeing Dreamliner ready for prime time

By Kyle Peterson, Reuters

2 hrs 26 mins ago

CHICAGO (Reuters) – Boeing Co’s 787 Dreamliner, the world’s first commercial airplane made largely of lightweight composite materials, is set for first delivery to a customer next week, the pinnacle achievement in the life of one of Boeing’s most challenging airplane programs.

It has been a rocky road for the Dreamliner program, which is more than three years behind schedule and several billion dollars over budget by some estimates.

But with Japan’s All Nippon Airways Co Ltd <9202.T> set to take delivery of the first 787 on Sunday, payday is almost at hand for the storied plane, which has been in development since 2003.

39 Amazon expected to unveil tablet next week

By Dhanya Skariachan, Phil Wahba and Alistair Barr in New York, Reuters

49 mins ago

(Reuters) – Amazon.com Inc, which revolutionized reading with its Kindle e-reader, is expected to unveil a tablet computer next week that analysts say will seriously challenge Apple’s market dominating iPad.

Amazon on Friday invited media to a press conference to be held in New York next Wednesday, declining to provide further details.

But analysts were confident that the world’s largest Internet retailer will introduce its long-awaited tablet computer this year to expand in mobile commerce and sell more digital goods and services.

40 Boxing body refutes London 2012 fix allegation

By Alan Baldwin, additional reporting by Ossian Shine, Reuters

2 hrs 52 mins ago

LONDON (Reuters) – Amateur boxing’s world governing body has dismissed as “preposterous and utterly untrue” allegations that Azerbaijan was promised two gold medals at next year’s London Olympics in exchange for a loan of millions of dollars.

The International Amateur Boxing Association (AIBA), under president Dr Ching-Kuo Wu of Taiwan, said in a statement they rejected the claims “in the strongest possible terms” but would set up an investigation committee.

The allegations, by an unnamed insider, were broadcast by the BBC on their Newsnight programme on Thursday and reported on the website www.bbc.co.uk.

41 "Faster than light" particles threaten Einstein

By Robert Evans, Reuters

2 hrs 42 mins ago

GENEVA (Reuters) – Sub-atomic particles apparently traveling faster than light could force a major rethink of theories about how the cosmos works and even allow dreams of time travel and extra dimensions, scientists said on Friday.

Jeff Forshaw, a professor of particle physics at Britain’s Manchester University, said the results, if confirmed, would mean it would be possible in theory “to send information into the past.”

“In other words time travel into the past would become possible … (though) that does not mean we’ll be building time machines any time soon,” he told Reuters.

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