Issue link: http://www.epageflip.net/i/38540
4B Daily News – Saturday, August 6, 2011 WORLD BRIEFING Nation adds 117,000 jobs in July, better than expected, and Wall Street relaxes for now WASHINGTON (AP) — Better. The job market beat expectations, and the stock market managed a modest gain — not great, but good enough after a turbulent week. The nation added 117,000 jobs in July, the government said Friday — far from what happens in a healthy economy, and only good for a reduction of one notch in the unem- ployment rate, to 9.1 percent. But the jobs number beat the forecast of economists, who were expecting no more than 90,000. And it was an over- whelming relief for investors, who just lived through two of the most brutal weeks in Wall Street history. ‘‘Nothing to pop Champagne corks over,’’ said Diane Swonk, chief economist at Mesirow Financial, ‘‘but a much- needed shot in the arm for confidence at a time when we have so little.’’ Stocks mostly lower after a day of 100-point swings; worries about Europe deepen NEW YORK (AP) — If you looked away Friday, you might have missed a market rally. Or a plunge. A soothing government report on employment in July eased concerns that the U.S. might slide back into a recession, and the Dow Jones industrial average rose as much as 171 points soon after trading began. But fears that Europe’s growing debt crisis might threaten U.S. banks and the fragile economy ruled Friday. After its early rise, the Dow fell more than 400 points and was down 243 just before noon. Then it rose nearly 400 points in less than an hour and was up 135 points. The rest of the day, the blue-chip stock index bounced up and down, sometimes by as much as 100 points in less than half an hour. The Dow Jones indus- trial average ended the day up 61 points, or 0.5 percent. Stocks have been ‘‘like a tether ball being smacked around the pole’’ by worries about weakening economies around the world, said Sam Stovall, chief investment strategist for Standard & Poor’s Equity Research. Even less-developed countries like Brazil and China, which have been the motor of global growth for three years, are slowing. Brazilian stocks have dropped nearly 30 percent since Nov. 4 as the country tries to stem inflation. Manufacturing in China shrank in July for the first time in a year. Jury convicts 5 current or former New Orleans officers charged in Katrina shootings NEW ORLEANS (AP) — A federal jury on Friday convicted five current or former police officers in dead- ly shootings on a New Orleans bridge after Hurricane Katrina, a high-profile victory for the Justice Depart- ment in its push to clean up the city’s troubled police department. The case was a high-stakes test of the effort to rid the police department of corruption and brutality. A total of 20 current or former New Orleans police officers were charged last year in a series of federal probes. Most of the cases center on actions during the aftermath of the Aug. 29, 2005, storm, which plunged the flooded city into a state of lawlessness and desperation. Sgts. Robert Gisevius and Kenneth Bowen, Officer Anthony Villavaso and former officer Robert Faulcon were convicted of civil rights violations in the shoot- ings that killed two people and wounded four others on the Danziger Bridge less than a week after the storm. They face possible life prison sentences. Retired Sgt. Arthur ‘‘Archie’’ Kaufman and the other four men also were convicted of engaging in a brazen cover-up that included a planted gun, fabricated witnesses and falsified reports. The five men were con- victed of all 25 counts they faced. Shaun Clarke, a defense attorney and former federal prosecutor who moved from New Orleans to Houston after Katrina, said the verdicts are ‘‘critically impor- tant’’ to the Justice Department’s reform efforts. Syria claims progress in crushing Hama uprising, as troops kill 13 protesters BEIRUT (AP) — Syria’s government showed off TV and still images of burned buildings and rubble- strewn streets empty of people in Hama, the epicenter of anti-regime protests, and claimed Friday it was putting an end to the rebellion in the besieged city. Under the suffocating clampdown, residents of the city warned that medical supplies were running out and food was rotting after six days without electricity. Across the country, tens of thousands of protesters marched, chanting their solidarity with Hama and demanding the ouster of President Bashar Assad. They were met by security forces who opened fire, killing at least 13 people, activists said. Government forces began their ferocious assault on Hama Sunday, cutting off electricity, phone services and Internet and blocking supplies into the city of 800,000 as they shelled neighborhoods and sent in tanks and ground raids. It appeared to be an all-out attempt to take back the city — which has a history of dissent — after residents all but took it over since June, barricading it against the regime. Rights group say at least 100 people have been killed, while some estimates put the number as high as 250. US Airways flight from Scotland being examined after TSAgot unspecified threat PHILADELPHIA (AP) — Passengers aboard a US Airways flight that flew in from Scotland have been removed and the plane taken to another part of Philadelphia International Airport because of an unspecified threat. US Airways spokesman Andrew Christie told The Associated Press on Friday that the 157 passengers and six crew had boarded the Anchorage, Alaska-bound Flight 968 when they were asked by TSA officials to deplane so it could be swept by law enforcement offi- cials. The passengers were taken inside Terminal A. Airport spokeswoman Victoria Lupica (loo-PEE’- kah) said she did not what the threat was, but that the incident was referred to the FBI. Airlines that use the terminal include Lufthansa, British Airways, US Airways, Air Jamaica and Fron- tier. Army to trim yearlong war tours to 9 months for most units, cut civilian jobs WASHINGTON (AP) — Aided by the shrinking troop requirements for the wars in Iraq and Afghanistan, the Army is cutting the current yearlong deployment tours to nine months for most of its units beginning next January. The change will not affect any of the Army troops deploying this year, and some high-demand units — such as aviation and military police — will continue to serve 12-month tours. The move comes as the Iraq war continues to wind down and as the U.S. begins what is to be a slow, delib- erate withdrawal from Afghanistan. And it reflects a reduced demand on the military as the Pentagon looks to shrink the size of the Army and Marine Corps and slash budgets in line with the admin- istration’s attempt to rein in spending. As part of that effort, the Army is also planning to cut more than 8,700 civilian jobs over the next year, with about half coming from support staff at bases and installations around the world. Those could include maintenance, administrative and security staff. Bachmann says she wouldn’t take long to improve economy NEWTON, Iowa (AP) — Michele Bachmann declared Friday ‘‘it won’t take that long’’ for her to start turning the ailing economy around as president as she competed against other GOP presidential rivals to build support ahead of a key GOP straw poll in Iowa next week. Bachmann told reporters after a campaign event in Newton that the economy would start to improve almost immediately after she becomes president because she would immediately implement conserva- tive economic policies to slash the nation’s debt, rule out tax increases and cut regulations. ‘‘It won’t take that long if we send signals to the marketplace,’’ she said, standing by an earlier comment that the improvement would begin within the first quar- ter. Speaking to a crowd of more than 60 in the parking lot of a Pizza Ranch, Bachmann said Friday’s econom- ic report indicating that 117,000 jobs were created last month showed the economy remained too weak. She also said this week’s plunge of the stock market was proof that an agreement to raise the nation’s debt ceil- ing and cut spending that she voted against was ‘‘a stinky deal.’’ Other candidates weighed in after the stock market plunged more than 500 points on Thursday. 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