Co. Paying Just $1,200 for Each Factory Fire Life













A company that makes clothes for Sean Combs' clothing brand ENYCE and other U.S. labels reassured investors that a factory fire that killed 112 people over the weekend would not harm its balance sheet, and also pledged to pay the families of the dead $1,200 per victim.


In an announcement Monday, Li & Fung Ltd., a middleman company that supplies clothes from Bangladesh factories to U.S. brands, said "it wishes to clarify" that the deadly Saturday night blaze at the high-rise Tazreen Fashions factory outside Dhaka "will not have any material impact on the financial performance" of the firm.


The fire broke out on the ground floor of the nine-floor building as hundreds of workers were upstairs on a late-night shift producing fleece jackets and trousers for the holiday rush at American stores, including Wal-Mart, according to labor rights groups. Fire officials said the only way out was down open staircases that fed right into the flames. Some workers died as they jumped from higher floors.


PHOTOS from the factory fire.


After reassuring investors about its financial health, Li & Fung's statement went on to express "deepest condolences" to the families of the dead, and pledge the equivalent of $1,200 to each family. The company also said it would set up an educational fund for the victims' children.








Bangladesh Garment Factory Fire Leaves 112 Dead Watch Video









As reported on "ABC World News with Diane Sawyer" earlier this year, Bangladesh has become a favorite of many American retailers, drawn by the cheapest labor in the world, as low as 21 cents an hour, producing clothes in crowded conditions that would be illegal in the U.S. In the past five years, more than 700 Bangladeshi garment workers have died in factory fires.


READ the original ABC News report.


WATCH the original 'World News' report on deadly factories.


"[It's] the cheapest place, the worst conditions, the most dangerous conditions for workers and yet orders continue to pour in," said Scott Nova, executive director of Worker Rights Consortium, an American group working to improve conditions at factories abroad that make clothes for U.S. companies. Nova said the fire was the most deadly in the history of the Bangladesh apparel industry, and "one of the worst in any country."


Today, U.S. companies extended condolences to the families of the victims, and scrambled to answer questions about the dangerous factory that had been making their clothes.


Wal-Mart inspectors had warned last year that "the factory had violations or conditions which were deemed to be high risk," according to a document posted on-line.


Yet Wal-mart clothing continued to be made at the factory, according to workers groups who found clothing with Wal-Mart's private label, Faded Glory, in the burned out remains along with clothing for a number of other U.S. labels, including ENYCE, Dickies and a brand associated with Sears.


Wal-Mart confirmed Monday that its clothes were being made at the Tazreen factory. Even though Wal-Mart is famed for maintaining tight control over its supply chain, the company said its clothes were being made at the plant without its knowledge.






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Asian markets mixed ahead of Greece meeting






HONG KONG: Asian markets were mixed on Monday as investors awaited the outcome of a meeting later in the day aimed at finalising a bailout deal for Greece, amid a simmering budgetary impasse in Washington.

Tokyo rose 0.24 percent, or 22.14 points, to 9,388.94, Sydney gained 0.25 percent, or 11.2 points, to close at 4,424.2 but Seoul ended 0.15 percent, or 2.82 points, lower at 1,908.51.

Hong Kong closed down 0.24 percent, or 52.17 points, at 21,861.81 while Shanghai slid 0.49 percent, or 9.92 points, to finish at 2,017.46.

Eurozone finance ministers were to meet later Monday for their third effort to agree on unlocking a 31.2-billion-euro ($40.5-billion) slice of aid for Greece as it teeters on the verge of bankruptcy as nervous investors hope for positive news.

French Finance Minister Pierre Moscovici on Sunday offered some hope in the long-running saga to reach a deal for Athens, saying that ministers were "very close to a solution".

"I don't know if there will be an agreement tomorrow. I know it is possible and I want one," he said.

Europe's main stock markets fell at the start of trading on Monday ahead of the meeting on Greece, with London's benchmark FTSE 100 index of top companies down 0.26 percent at 5,803.98 points.

Frankfurt's DAX 30 shed 0.31 percent to 7,286.69 points and in Paris the CAC 40 dropped 0.40 percent to 3,514.86.

The mixed Asian trade came after US stocks rallied Friday on signs that holiday retail sales were off to a good start, with Walmart calling it the "best ever" Black Friday, the traditional discount sales day that kicks off the holiday shopping season.

That helped boost the Dow Jones Industrial Average by 1.35 percent to 13,009.68.

Investors were also looking out for news of a compromise in Washington that will avert the so-called fiscal cliff of spending cuts and tax hikes, which will likely send the economy into recession if it comes into effect.

Finding a new spending deal to replace the package, scheduled to come into effect on January 1, has been elusive in the bitterly-divided US Congress.

"Certainly from our perspective, we are sceptical about whether there has really been any progress in discussions regarding the US fiscal cliff," Angus Gluskie, managing director of White Funds Management in Sydney, told Dow Jones Newswires.

On currency markets the euro lost ground after hitting a seven-month high on the yen.

The single currency bought $1.2965 and 106.38 yen from $1.2973 and 106.90 yen in New York on Friday.

The euro had climbed above 107 yen in earlier Asian trade Monday but the unit quickly fell.

The dollar was also weaker at 82.01 yen against 82.40 yen in US trade.

However, the yen has been under pressure recently on expectations the country's central bank will unveil a new round of monetary easing next month.

Oil markets were also affected by Greek debt fears and the US fiscal cliff, analysts said.

New York's main contract, West Texas Intermediate (WTI) for January delivery, was down four cents to $88.24 a barrel in the afternoon, and Brent North Sea crude also for January eased 26 cents to $111.12.

"Having just enjoyed an unexpectedly strong week, global markets remain on a knife edge with uncertainty over Greece and the US taking centre stage again," said Jason Hughes, head of premium client management at IG Markets Singapore.

Gold was at $1,747.01 at 1030 GMT compared with $1,734.47 late Friday.

In other markets:

- Wellington rose 3.69 points, or 0.09 percent, to 4,012.03, its highest close since January 2008.

Contact Energy gained 1.38 percent to NZ$5.15 and Fisher & Paykel Healthcare was up 1.63 percent to NZ$2.50.

- Taipei was up 81.36 points, or 1.11 percent, at 7,407.37.

Leading smartphone maker HTC added 4.58 percent to Tw$251.0 while Hon Hai Precision was 0.87 percent higher at Tw$92.8.

- Manila rose 0.49 percent, or 27.08 points, to close at a record high of 5,579.42.

Philippine Long Distance Telephone added 0.4 percent to 2,510 pesos and Philippine National Bank increased 1.9 percent to 85.90 pesos.

- Singapore closed 0.51 percent, or 15.22 points, higher at 3,004.50.

Singapore Telecom rose 0.64 percent to finish at S$3.16 and property developer CapitaLand ended 0.59 percent higher at S$3.43.

- Jakarta ended up 0.61 percent, or 26.361 points, at 4,375.169.

Retailer Ramayana Lestari Sentosa jumped 11.63 percent to 1,440 rupiah and tin firm Timah rose 2.94 percent to 1,400 rupiah.

- Kuala Lumpur fell 0.40 percent, or 6.44 points, to end at 1,607.88.

Axiata Group shed 2.0 percent to 5.75 ringgit, while CIMB Group Holdings dropped 1.2 percent to 7.58.

- Bangkok gained 0.71 percent, or 9.15 points, to 1,290.85.

Coal producer Banpu jumped 5.35 percent to 394.00 baht, while Siam Cement lost 0.77 percent to 387.00 baht.

- Mumbai rose 0.16 percent, or 30.44 points, to 18,537.01.

GSK Consumer Healthcare, the local arm of GlaxoSmithKline, jumped 20 percent to 3,651.8 rupees on news that the parent firm planned to increase its stake in the local firm to 75 percent.

- AFP/de



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Logjam on FDI in Parliament: No consensus at all-party meet

NEW DELHI: NEW DELHI: An all-party meeting over the issue of FDI in multi-brand retail on Monday failed to break the Parliament logjam with the government appealing to opposition parties to reconsider their demand for a debate under rules that stipulate voting and the latter remaining adamant.

After an over two-hour-long meeting held in the Parliament House, parliamentary affairs minister Kamal Nath told reporters: "It was a good meeting. Many members said the house must run...

"I will appeal to the parties demanding a discussion under rule 184 to reconsider their view, and I will discuss the sentiments expressed in the meeting with the presiding officers of the two houses."

With the opposition disrupting Parliament for the third consecutive day on Monday and earlier efforts by the government not succeeding, the all-party meeting was held to end the impasse. The government has maintained that it is ready to discuss the FDI in retail issue but does not want it to be put to vote.

The meeting, held in Parliament House, was chaired by leader of the Lok Sabha Sushilkumar Shinde and attended by finance minister P Chidambaram, parliamentary affairs minister Kamal Nath, commerce and industry minister Anand Sharma and agriculture minister and NCP chief Sharad Pawar.

Sources said the government has reached out to its outside supporters SP and BSP to muster the required numbers. SP chief Mulayam Singh Yadav held a meeting with Prime Minister Manmohan Singh before the all-party meeting where the FDI issue is understood to have come up for discussion.

Union ministers have also been in touch with BSP leadership on the issue. BSP is pressing for passage of the reservation in promotion for SC/ST bill in Rajya Sabha, the sources said.

Union minister Ghulam Nabi Azad had met UPA ally DMK's chief M Karunanidhi on Sunday in Chennai to discuss the FDI issue. DMK has opposed the decision.

Leader of the opposition in Lok Sabha Sushma Swaraj, her Rajya Sabha counterpart Arun Jaitley, NDA working chairperson L K Advani, JD(U) chief Sharad Yadav, CPI(M) leader Sitaram Yechury, Reoti Raman Singh and Naresh Agrawal (both SP), T R Baalu (DMK), BSP leader Mayawati, her party colleague Satish Chandra Mishra, Sudip Bandyopadhyay (TMC) and Arjun Charan Sethi (BJD) were among those present.

Leaders of other parties, including from TDP, RJD, NC, RLD, SAD were also present.

(With inputs from agencies)

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Distant Dwarf Planet Secrets Revealed


Orbiting at the frozen edges of our solar system, the mysterious dwarf planet Makemake is finally coming out of the shadows as astronomers get their best view yet of Pluto's little sibling.

Discovered in 2005, Makemake—pronounced MAH-keh MAH-keh after a Polynesian creation god—is one of five Pluto-like objects that prompted a redefining of the term "planet" and the creation of a new group of dwarf planets in 2006. (Related: "Pluto Not a Planet, Astronomers Rule.")

Just like the slightly larger Pluto, this icy world circles our sun beyond Neptune. Researchers expected Makemake to also have a global atmosphere—but new evidence reveals that isn't the case.

Staring at a Star

An international team of astronomers was able for the first time to probe Makemake's physical characteristics using the European Southern Observatory's three most powerful telescopes in Chile. The researchers observed the change in light given off by a distant star as the dwarf planet passed in front of it. (Learn how scientists found Makemake.)

"These events are extremely difficult to predict and observe, but they are the only means of obtaining accurate knowledge of important properties of dwarf planets," said Jose Luis Ortiz, lead author of this new study and an astronomer at the Instituto de Astrofisica de Andalucia, in Spain.

It's like trying to study a coin from a distance of 30 miles (48 kilometers) or more, Ortiz added.

Ortiz and his team knew Makemake didn't have an atmosphere when light from the background star abruptly dimmed and brightened as the chilly world drifted across its face.

"The light went off very abruptly from all the sites we observed the event so this means this world cannot have a substantial and global atmosphere like that of its sibling Pluto," Ortiz said.

If Makemake had an atmosphere, light from the star would gradually decrease and increase as the dwarf planet passed in front.

Coming Into Focus

The team's new observations add much more detail to our view of Makemake—not only limiting the possibility of an atmosphere but also determining the planet's size and surface more accurately.

"We think Makemake is a sphere flattened slightly at both poles and mostly covered with very white ices—mainly of methane," said Ortiz.

"But there are also indications for some organic material at least at some places; this material is usually very red and we think in a small percentage of the surface, the terrain is quite dark," he added.

Why Makemake lacks a global atmosphere remains a big mystery, but Ortiz does have a theory. Pluto is covered in nitrogen ice. When the sun heats this volatile material, it turns straight into a gas, creating Pluto's atmosphere.

Makemake lacks nitrogen ice on its surface, so there is nothing for the sun to heat into a gas to provide an atmosphere.

The dwarf planet has less mass, and a weaker gravitational field, than Pluto, said Ortiz. This means that over eons of time, Makemake may not have been able to hang on to its nitrogen.

Methane ice will also transform into a gas when heated. But since the dwarf planet is nearly at its furthest distance from the sun, Ortiz believes that Makemake's surface methane is still frozen. (Learn about orbital planes.)

And even if the methane were to transform into a gas, any resulting atmosphere would cover, at most, only ten percent of the planet, said Ortiz.

The new results are detailed today in the journal Nature.


Read More..

GOP Starting to Rebel Against No-Tax-Hikes Pledge













With the fiscal cliff looming for the United States, some Republican members of Congress said today they are ready to break a long standing pledge not to raise taxes.


"The only pledge we should be making to each other is to avoid becoming Greece. And Republicans should put revenue on the table," South Carolina Sen. Lindsey Graham said on ABC's "This Week."


Read more of the discussion of the fiscal on "This Week" today.


Graham's comments followed those by another Republican senator, Saxby Chambliss of Georgia, who said last week he'll no longer abide by the pledge.


"I care more about my country than I do about a 20-year-old pledge," he said in a local interview.


He got support today from House member Peter King, another Republican from New York.


"I agree entirely with Saxby Chambliss -- a pledge he signed 20 years ago, 18 years ago is for that Congress," King said on NBC's "Meet the Press." He added, "The world is changed and the economic situation is different."






JIM WATSON/AFP/Getty Images











Sen. Lindsey Graham and Sen. Dick Durbin on 'This Week' Watch Video











Loathed and Loved: What We Never Knew About J.R. Ewing Watch Video





Read Matthew Dowd's analysis of the efforts to avoid the fiscal cliff.


This growing chorus is about the pledge that Americans for Tax Reform president Grover Norquist has gotten hundreds of Republicans to sign. But in an interview with ABC News, Norquist says it's just a few deserters.


"The people who have made a commitment to their constituents are largely keeping it," he said. "The fact is there is more support for both protecting the rates, you saw the Republican leader in the house say rates are non-negotiable, and he also talked about revenue coming from growth."


But President Obama has said rates will go up for the wealthy. There could be some political cover for Republicans if the country actually goes over the cliff. All the Bush era tax cuts would expire, including those for the wealthy. Congress could then vote to actually reduce taxes for everyone expect the rich. Therefore, they wouldn't technically raise taxes and violate Norquist's pledge.


But Nordquist said he doesn't think the public would buy those political moves, and he also doesn't think the country will actually go over the cliff.


"I think we'll continue the tax cuts. Not raise taxes $500 billion. Obama made the correct decision (by extending the Bush tax cuts) two years ago," Norquist told us.


Leading Democratic Sen. Richard Durbin also said he believes a deal is possible now that the Thanksgiving holiday break is over.


"We can solve this problem," he said on "This Week," adding: "There's no excuse. We're back in town."



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Climate skeptic group works to reverse renewable energy mandates



The Electricity Freedom Act, adopted by the council’s board of directors in October, would repeal state standards requiring utilities to get a portion of their electricity from renewable power, calling it “essentially a tax on consumers of electricity.” Twenty-nine states and the District of Columbia have binding renewable standards; in the absence of federal climate legislation, these initiatives have become the subject of intense political battles.

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BMW collides into van at Buona Vista, no injuries reported






SINGAPORE: A black BMW collided into a van at the signalised junction of Holland Road and North Buona Vista Road on Saturday morning.

A member of the public, Grace Lee, sent video footage of the accident to Channel NewsAsia.

The footage was filmed from a dashboard camera in a taxi driven by her husband.

When the traffic light turned green, the van in front of the taxi went ahead.

Shortly after, the black BMW, coming from the taxi driver's right, went past the junction and hit the van.

The BMW ended up on a road divider.

No one was injured and investigations are still ongoing.

- CNA/xq



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Aam Aadmi Party reflects intellectual bankruptcy of Kejriwal: Digvijaya Singh

BHUBANESWAR: Ridiculing Arvind Kejriwal's Aam Aadmi Party, AICC general secretary Digvijaya Singh on Sunday accused the activist-turned-politician of adopting Congress party's theme to name his political outfit.

"It reflects the intellectual bankruptcy of Kejriwal," Singh told reporters in Bhubaneswar, while replying a question on the use of word "Aam Aadmi".

"Let Mr Kejriwal first get elected as an MP or MLA or even a municipal corporator," the AICC leader who was in Bhubaneswar to attend a function of All India Kshatriya Federation (AIKF) said, criticising the Kejriwal's political party.

Replying to a question on the Congress's B team in Odisha, Singh said "Let Naveen Patnaik and (Pyarimohan) Mohapatra decided what are they."

Both, the ruling BJD led by Naveen Patnaik and Odisha Jan Morcha (OJM), had been accusing each other as the "B" team of Congress.

Read More..

Distant Dwarf Planet Secrets Revealed


Orbiting at the frozen edges of our solar system, the mysterious dwarf planet Makemake is finally coming out of the shadows as astronomers get their best view yet of Pluto's little sibling.

Discovered in 2005, Makemake—pronounced MAH-keh MAH-keh after a Polynesian creation god—is one of five Pluto-like objects that prompted a redefining of the term "planet" and the creation of a new group of dwarf planets in 2006. (Related: "Pluto Not a Planet, Astronomers Rule.")

Just like the slightly larger Pluto, this icy world circles our sun beyond Neptune. Researchers expected Makemake to also have a global atmosphere—but new evidence reveals that isn't the case.

Staring at a Star

An international team of astronomers was able for the first time to probe Makemake's physical characteristics using the European Southern Observatory's three most powerful telescopes in Chile. The researchers observed the change in light given off by a distant star as the dwarf planet passed in front of it. (Learn how scientists found Makemake.)

"These events are extremely difficult to predict and observe, but they are the only means of obtaining accurate knowledge of important properties of dwarf planets," said Jose Luis Ortiz, lead author of this new study and an astronomer at the Instituto de Astrofisica de Andalucia, in Spain.

It's like trying to study a coin from a distance of 30 miles (48 kilometers) or more, Ortiz added.

Ortiz and his team knew Makemake didn't have an atmosphere when light from the background star abruptly dimmed and brightened as the chilly world drifted across its face.

"The light went off very abruptly from all the sites we observed the event so this means this world cannot have a substantial and global atmosphere like that of its sibling Pluto," Ortiz said.

If Makemake had an atmosphere, light from the star would gradually decrease and increase as the dwarf planet passed in front.

Coming Into Focus

The team's new observations add much more detail to our view of Makemake—not only limiting the possibility of an atmosphere but also determining the planet's size and surface more accurately.

"We think Makemake is a sphere flattened slightly at both poles and mostly covered with very white ices—mainly of methane," said Ortiz.

"But there are also indications for some organic material at least at some places; this material is usually very red and we think in a small percentage of the surface, the terrain is quite dark," he added.

Why Makemake lacks a global atmosphere remains a big mystery, but Ortiz does have a theory. Pluto is covered in nitrogen ice. When the sun heats this volatile material, it turns straight into a gas, creating Pluto's atmosphere.

Makemake lacks nitrogen ice on its surface, so there is nothing for the sun to heat into a gas to provide an atmosphere.

The dwarf planet has less mass, and a weaker gravitational field, than Pluto, said Ortiz. This means that over eons of time, Makemake may not have been able to hang on to its nitrogen.

Methane ice will also transform into a gas when heated. But since the dwarf planet is nearly at its furthest distance from the sun, Ortiz believes that Makemake's surface methane is still frozen. (Learn about orbital planes.)

And even if the methane were to transform into a gas, any resulting atmosphere would cover, at most, only ten percent of the planet, said Ortiz.

The new results are detailed today in the journal Nature.


Read More..

After Sandy, World Hopes to Hear New US Voice on Climate Change












During a year with a monster storm and scorching heat waves, Americans have experienced the kind of freakish weather that many scientists say will occur more often on a warming planet.



And as a re-elected president talks about global warming again, climate activists are cautiously optimistic that the U.S. will be more than a disinterested bystander when the U.N. climate talks resume Monday with a two-week conference in Qatar.



"I think there will be expectations from countries to hear a new voice from the United States," said Jennifer Morgan, director of the climate and energy program at the World Resources Institute in Washington.



The climate officials and environment ministers meeting in the Qatari capital of Doha will not come up with an answer to the global temperature rise that is already melting Arctic sea ice and permafrost, raising and acidifying the seas, and shifting rainfall patterns, which has an impact on floods and droughts.



They will focus on side issues, like extending the Kyoto protocol — an expiring emissions pact with a dwindling number of members — and ramping up climate financing for poor nations.



They will also try to structure the talks for a new global climate deal that is supposed to be adopted in 2015, a process in which American leadership is considered crucial.





Many were disappointed that Obama didn't put more emphasis on climate change during his first term. He took some steps to rein in emissions of heat-trapping gases, such as sharply increasing fuel efficiency standards for cars and trucks. But a climate bill that would have capped U.S. emissions stalled in the Senate.



"We need the U.S. to engage even more," European Union Climate Commissioner Connie Hedegaard told The Associated Press. "Because that can change the dynamic of the talks."



The world tried to move forward without the U.S. after the Bush Administration abandoned the Kyoto Protocol, a 1997 pact limiting greenhouse emissions from industrialized nations. As that agreement expires this year, the climate curves are still pointing in the wrong direction.



The concentration of heat-trapping gases like carbon dioxide has jumped 20 percent since 2000, primarily from the burning of fossil fuels like coal and oil, according to a U.N. report released this week. And each year, the gap between what researchers say must be done to reverse this trend, and what's actually being done, gets wider.



Bridging that gap, through clean technology and renewable energy, is not just up to the U.S., but to countries like India and China, whose carbon emissions are growing the fastest as their economies expand.



But Obama raised hopes of a more robust U.S. role in the talks when he called for a national "conversation" on climate change after winning re-election. The issue had been virtually absent in the presidential campaigning until Hurricane Sandy slammed into the East Coast.



The president still faces domestic political constraints, and there's little hope of the U.S. increasing its voluntary pledge in the U.N. talks of cutting emissions by 17 percent by 2020, compared to 2005 levels.



Still, just a signal that Washington has faith in the international process would go a long way, analysts said.



"The perception of many negotiators and countries is that the U.S. is not really interested in increasing action on climate change in general," said Bill Hare, senior scientist at Climate Analytics, a non-profit organization based in Berlin.





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