Issue link: https://www.epageflip.net/i/192522
Tuesday, October 15, 2013 – Daily News 5A WORLD BRIEFING Is a shutdowndebt limit deal in sight? WASHINGTON (AP) — After weeks of stubborn gridlock, the Senate's top two leaders raced on Monday to reach an agreement that could head off a Treasury default that threatens severe national economic damage and reopen the government after a two-week partial shutdown. As a midweek deadline neared, the stock market turned positive on bullish predictions from the two longtime antagonists at the center of the talks, Majority Leader Harry Reid for the Democrats Republican leader Mitch McConnell for the GOP. Under the terms they were discussing, the $16.7 trillion federal debt limit would be raised enough to permit the Treasury to borrow normally until mid-February if not several months longer. The government would reopen with funds sufficient to operate until mid-January at levels set previously. The government has been partly closed since Oct. 1, and the administration says the Treasury will run out of borrowing authority to fully pay the nation's bills on Thursday. Additionally, officials said there was some thought being given to repealing a $63 fee, imposed by the big health care overhaul, that companies must pay for each person they cover beginning in 2014. Visiting a charity not far from the White House, President Barack Obama blended optimism with a slap at Republicans. As default nears, many shrug off threat NEW YORK (AP) — Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the economy would slide into a recession worse than the last. Yet you wouldn't know that a U.S. debt default could amount to a nightmare from the way many companies and investors are preparing for it: They aren't. The assumption seems to be that in the end, Washington will find a way to avert a default. ''Doomsday is nigh, and everyone shrugs,'' said Nicholas Colas, chief market strategist at CovergEx Group, an investment brokerage in New York. Brian Doe, a wealth adviser at Gratus Capital Management in Atlanta, has 35 clients who've entrusted him with $50 million for safekeeping. He isn't losing sleep over a potential default. Neither are his clients, apparently. Not one has called him about the issue, he said. ''I've not done anything,'' he said. He puts the odds of default very low. ''People in Washington are stupid but not that stupid.'' Al-Qaida suspect arrives in US for trial WASHINGTON (AP) — After a weeklong interrogation aboard a U.S. warship, a Libyan alQaida suspect is now in New York awaiting trial on terrorism charges, U.S. officials said Monday. Abu Anas al-Libi was grabbed in a military raid in Libya on Oct. 5. He's due to stand trial in Manhattan, where he has been under indictment for more than a decade on charges he helped plan and conduct surveillance for the bombings of U.S. embassies in Africa in 1998. Preet Bharara, the U.S. attorney for the southern district of New York, confirmed that al-Libi was transferred to law enforcement custody over the weekend. Al-Libi was expected to be arraigned Tuesday, Bharara said. President Barack Obama's administration took criticism years ago when it decided to prosecute admitted 9/11 mastermind Khalid Sheikh Mohammed in New York, rather than at the naval prison at Guantanamo Bay. After reversing course, however, the government has successfully prosecuted several terrorism cases in civilian courts. A federal law enforcement official and two other U.S. officials said al-Libi arrived in New York on Saturday. The officials insisted on anonymity because they were not authorized to publicly discuss the matter. In Syrian rebel area, gunmen release 4 aid workers BEIRUT (AP) — Gunmen in Syria released three Red Cross staffers and a Red Crescent volunteer who had been kidnapped in rebel-held territory, the international agency said Monday. The fate of three other Red Cross workers who were also seized Sunday in the northwestern Idlib province remained unclear, the International Committee of the Red Cross said. Syrian opposition activists said the seven aid workers were taken at a rebel checkpoint outside the town of Saraqeb, manned by an al-Qaidaaffiliate, the Islamic State in Iraq and the Levant. There was no claim of responsibility. About two dozen miles away, near Turkey, a car bomb went off in the market of the town of Darkoush on Monday, while it was crowded with people shopping for the four-day Muslim holiday of Eid alAdha holiday. The blast set cars on fire and sent people running. The Britain-based Syrian Observatory for Human Rights said 27 people were killed, while another activist group, the Local Coordination Committees, put the death toll at 15. drowned in the midship pool. He was at the pool area with other family members at the time, the statement said. ''To the best of our knowledge it is the first time a child has drowned aboard one of our ships,'' Carnival spokeswoman Joyce Oliva said in an email to The Associated Press. The ship arrived Monday morning at Port Miami. There were 3,094 guests on the ship and approximately 1,100 staff members, Carnival said. ''Carnival extends its heartfelt sympathy to the family during this very difficult time. The company's CareTeam is providing assistance and support,'' Carnival said in its statement. 6-year-old boy drowned in pool while at sea on 4day trip PODAMPETTA, India (AP) — Agya Amma's house in this seaside village was flattened by the cyclone that roared in from the Bay of Bengal with torrential rains and winds topping 200 kilometers (131 miles) per hour. But the fact that she was still here on Monday, surveying the pile of twisted wood and shredded thatch that had been her home, was proof that this was a different kind of disaster for India. Unlike past storms that have lashed India's eastern coast, Cyclone Phailin did not extract a heavy human MIAMI (AP) — A 6year-old boy drowned in one of the pools aboard a Carnival Cruise Lines ship while at sea, the company said in a statement Monday. The Carnival Victory was on the last leg of a four-day Caribbean cruise Sunday when the boy Indian coastal residents say evacuation kept them alive toll, thanks to a massive and improbable evacuation effort that effectively moved nearly 1 million residents of one of India's poorest regions out of the storm's path and into government shelters. By Monday, only 25 people had been reported killed, even though tens of thousands of homes were destroyed. The successful evacuation effort was earning rare praise for a country known for largescale disasters that have caused high death tolls. In 1999, a cyclone that struck the same coast killed about 10,000 people, while more than 6,000 were killed in June by flooding and mudslides in another Indian state, Uttarakhand. ''If we had stayed here, everyone in the village would be dead,'' said Amma, a 55-year-old fisherwoman. ''I consider myself lucky to be alive.'' Despite the comparatively low number of deaths, Phailin still dealt its share of misery, as hundreds of thousands of coastal residents found themselves huddling in shelters, their homes flattened and crops destroyed by the most powerful storm to hit India in more than a decade. US, partners meet with Iran this week over its nuclear program GENEVA (AP) — Iran is promising a new proposal to break the dead- RUNNINGS ROOFING Sheet Metal Roofing Residential Commercial • Composition • Shingle • Single Ply Membrane All makes and models. We perform dealer recommened Members Welcome 30K, 60K, 90K "No Job Too Steep" " No Job Too Flat" Serving Tehama County No Money 530-527-5789 530-209-5367 CA. LIC#829089 SERVICES AT LOWER PRICES 3 US economists win Nobel Ordinary investors don't stand much chance of beating the market. It moves way too fast and efficiently. Or it behaves in ways that make no sense at all. Three Americans won the Nobel prize in economics Monday for their sometimes-contradictory insights into the complexities of investing. Eugene Fama and Lars Peter Hansen of the University of Chicago and Robert Shiller of Yale University were honored for shedding light on the forces that move stock, bond and home prices — findings that have transformed how people invest. Fama's research revealed the efficiency of financial markets: They absorb information so fast that individual investors can't outperform the markets as a whole. His work helped popularize index funds, which reflect an entire market of assets, such as the Standard & Poor's 500 stock index. ''Fama's work was incredibly fundamental in the '60s and '70s,'' said David Warsh, who follows economists at his Economic Principals blog. ''It led to enormous practical change in terms of people not buying particular stocks but buying index funds.'' Smog Check Down! FREE ESTIMATES Owner is on site on every job lock over its nuclear program when it resumes talks Tuesday with the U.S. and five major world powers — the first since the election of a reformist Iranian president. The U.S. and its partners are approaching the talks with caution. They are eager to test Tehran's new style since the June election of President Hassan Rouhani but insist that it will take more than words to advance the negotiations and end crippling international sanctions. Iran has long insisted it does not want nuclear weapons and that its nuclear program is entirely peaceful — a position received with skepticism in Western capitals. But Iranian officials from Rouhani down say their country is ready to meet some international demands to reduce its nuclear activities and build trust. Deputy Foreign Minister Abbas Araghchi, a senior member of Iran's negotiating team, said Sunday that Tehran is bringing a new proposal to the talks to dispel doubts about the nuclear program. While offering no details, he told Iran's student news agency ISNA that the Islamic Republic should ''enter into a trust-building path with the West.'' ''In their point of view trust-building means taking some steps on the Iranian nuclear issue, and in our view trust is made when the sanctions are lifted,'' Araghchi said. $ starting at + 25958 $ 25 certificate (MOST CARS & PICK-UPS) 527-9841 • 195 S. Main St. Cowdog Rodear Competition Oct. 26, 2013 • 10AM Tehama District Fairgrounds Nine Handlers - Nine Dogs - One Amazing Event! "Showcasing the brilliance of the cowdog and the compassion of the cattleman for his dog, his horse and the livestock they handle." FREE ADMISSION This will be a fundraising event, featuring a Calcutta auction to benefit the Back to School Project of Tehama County. 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