Khamis, 6 Jun 2013

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Bursa opens higher on fresh interest

Posted: 06 Jun 2013 06:32 PM PDT

Share prices on Bursa Malaysia rebounded to open slightly higher on fresh buying interest, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) opened 0.26 of a point higher at 1,769.86 but slipped 0.81 of a point to 1,768.79 one minute later.

Gainers more than doubled losers 112 to 31, 83 counters were unchanged, 1,361 untraded and 14 others were suspended.

Turnover stood at 24.89 million shares worth RM14.73 million.

HwangDBS Vickers Research said taking the cue from the positive vibes in the US market, the benchmark index was expected to see an upward bias today but immediate resistance would remain at the 1,785 points level.

"Wallstreet avoided a three-day losing streak as the major indices closed 0.5-0.9 per cent higher yesterday.

"This could be mainly due to the anticipation of favorable figures from a major jobs report due to be released today," it said in a research note today.

On the scoreboard, the Finance Index added 28.1 points to 16,830.97, the Industrial Index shed 5.91 points to 3,017.25 while the Plantation Index gained 15.88 points to 8,344.38.

The FBM Emas Index rose 3.15 points to 12,336.45, the FBMT100 earned 0.17 of
a point to 12,095.67, the FBM Mid 70 Index climbed 23.09 points to 14,316.1 but
the FBM Ace Index fell 2.48 points to 4,616.11.

Among actives, Malaysia Airline and Sino Hua-An added one sen each to 33.5
and 20 sen, respectively, GPA Holdings earned half-a-sen to 8.5 sen and Benalec
Holdings rose two sen to RM1.51.

Heavyweights, Maybank and Axiata Group were both flat at RM10.28 and RM6.47,
respectively, CIMB added two sen to RM8.08 but Sime Darby erased 14 sen to
RM9.35. Bernama

US stocks gain in erratic trading

Posted: 06 Jun 2013 05:03 PM PDT

NEW YORK: US stocks swung erratically on Thursday as the dollar sank and bond prices rose, but finished solidly higher a day ahead of the government's release of US employment data for May.

The Dow Jones Industrial Average gained 80.03 points (0.53 percent) at 15,040.62, after having lost as much as 116 points at mid-session.

The broad-based S&P 500 added 13.66 points (0.85 percent) at 1,622.56, while the tech-rich Nasdaq Composite rose 22.58 points (0.66 percent) to 3,424.05.

The market continued to search for direction amid mixed signals from the US and global economies and traders appeared unnerved by the dollar's sharp fall against the euro and yen, which came after both the European and British central banks kept monetary policies unchanged.

"The lows in the dollar index occurred at the same time as the lows in equities. Once the noise in currencies subsided, stocks began their afternoon rally," said Briefing.com.

On Friday the Department of Labour releases its numbers on job creation and unemployment in May, data that give some idea of the direction of the economy and how and when the Fed might pull in its quantitative easing program.

Leaders in large-cap stocks included Pfizer (+2.3 percent), Verizon (+3.5 percent) and Home Depot (+2.9 percent).

Network systems specialist Ciena gained 17.4 percent after it beat forecasts with a smaller fiscal second-quarter loss and predicted continuing improvement in its market this year.

That also helped push up shares of JDS Uniphase, a Ciena competitor, by 8.3 percent, while Juniper Networks fell 0.4 percent.

VeriFone, which makes electronic payments equipment, plunged 20.9 percent after turning in a fiscal second-quarter loss driven in part by slower sales.

SodaStream International, which sells kits and supplies for making soda drinks at home, surged 10 percent in early trade after rumors spread that Pepsi would take it over. Once denied, the shares settled for a 2.7 percent gain at the end of the session. -- AFP

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White House defends NSA phone records collection as 'critical tool' - The Guardian

Posted: 06 Jun 2013 09:36 AM PDT

Barack Obama crowdfunding charities
Obama administration said the practice was 'a critical tool in protecting the nation'. Photograph: Rex Features

The White House has sought to justify its surveillance of millions of Americans' phone records as anger grows over revelations that a secret court order gives the National Security Agency blanket authority to collect call data from a major phone carrier.

Politicians and civil liberties campaigners described the disclosures, revealed by the Guardian on Wednesday, as the most sweeping intrusion into private data they had ever seen by the US government.

But the Obama administration, while declining to comment on the specific order, said the practice was "a critical tool in protecting the nation from terrorist threats to the United States".

The secret Foreign Intelligence Surveillance Court (Fisa) granted the order to the FBI on April 25, giving the government unlimited authority to obtain the data for a specified three-month period ending on July 19.

Under the terms of the blanket order, the numbers of both parties on a call are handed over, as is location data, call duration, unique identifiers, and the time and duration of all calls. The contents of the conversation itself are not covered.

The disclosure has reignited longstanding debates in the US over the proper extent of the government's domestic spying powers.

Under the Bush administration, officials in security agencies had disclosed to reporters the large-scale collection of call records data by the NSA, but this is the first time significant and top-secret documents have revealed the continuation of the practice under President Obama.

The White House stressed that orders such as the one disclosed by the Guardian would only cover data about the calls rather than their content. A senior administration official said: "Information of the sort described in the Guardian article has been a critical tool in protecting the nation from terrorist threats to the United States, as it allows counter-terrorism personnel to discover whether known or suspected terrorists have been in contact with other persons who may be engaged in terrorist activities, particularly people located inside the United States.

"As we have publicly stated before, all three branches of government are involved in reviewing and authorising intelligence collection under the Foreign Intelligence Surveillance Act. Congress passed that act and is regularly and fully briefed on how it is used, and the Foreign Intelligence Surveillance Court authorises such collection. There is a robust legal regime in place governing all activities conducted pursuant to the Foreign Intelligence Surveillance Act."

The administration stressed that the court order obtained by the Guardian relates to call data, and does not allow the government to listen in to anyone's calls.

This point was also made by the chairman of the Senate intelligence committee, Dianne Feinstein. "This is just meta data. There is no content involved," she told reporters on Capitol Hill. "In other words, no content of a communication. … The records can only be accessed under heightened standards."

Senators Dianne Feinstein, chairman of the Senate intelligence committee, and Saxby Chambliss, the vice chairman, speak to reporters about the NSA cull of phone records. Senators Dianne Feinstein, chairman of the Senate intelligence committee, and Saxby Chambliss, the vice chairman, speak to reporters about the NSA cull of phone records. Photograph: Alex Wong/Getty Images

However, in 2013, such metadata can provide authorities with vast knowledge about a caller's identity. Particularly when cross-checked against other public records, the metadata can reveal someone's name, address, driver's licence, credit history, social security number and more. Government analysts would be able to work out whether the relationship between two people was ongoing, occasional or a one-off.

"From a civil liberties perspective, the program could hardly be any more alarming. It's a program in which some untold number of innocent people have been put under the constant surveillance of government agents," said Jameel Jaffer, American Civil Liberties Union deputy legal director. "It is beyond Orwellian, and it provides further evidence of the extent to which basic democratic rights are being surrendered in secret to the demands of unaccountable intelligence agencies."

The order names Verizon Business Services, a division of Verizon Communications. In its first-quarter earnings report, published in April, Verizon Communications listed about 10 million commercial lines out of a total of 121 million customers. The court order does not specify what type of lines are being tracked. It is not clear whether any additional orders exist to cover Verizon's wireless and residential customers, or those of other phone carriers.

Fisa court orders typically direct the production of records pertaining to a specific, named target suspected of being an agent of a terrorist group or foreign state, or a finite set of individually named targets. The unlimited nature of the records being handed over to the NSA is extremely unusual.

The Verizon order expressly bars the company from disclosing to the public either the existence of the FBI's request for its customers' records, or the court order itself. "We decline comment," said Ed McFadden, a Washington-based Verizon spokesman said on Wednesday.

'Secret blanket surveillance'

Feinstein said she believed the order had been in place for some time. She said: "As far as I know this is the exact three-month renewal of what has been the case for the past seven years. This renewal is carried out by the [foreign intelligence surveillance] court under the business records section of the Patriot Act. Therefore it is lawful. It has been briefed to Congress."

News of the order brought swift condemnation from senior US politicians. Former vice-president Al Gore described the "secret blanket surveillance" as "obscenely outrageous". "In [the] digital era, privacy must be a priority," he said.

The court order appears to explain the numerous cryptic public warnings by two US senators, Mark Udall and Ron Wyden, about the scope of the Obama administration's surveillance activities.

For about two years, the two Democrats have been stridently advising the public that the US government is relying on "secret legal interpretations" to claim surveillance powers so broad that the American public would be "stunned" to learn of the kind of domestic spying being conducted.

Udall, a member of the Senate intelligence committee, said on Wednesday night: "While I cannot corroborate the details of this particular report, this sort of widescale surveillance should concern all of us and is the kind of government overreach I've said Americans would find shocking."

Russell Tice, a retired National Security Agency intelligence analyst and whistleblower, said: "What is going on is much larger and more systemic than anything anyone has ever suspected or imagined."

Although an anonymous senior Obama administration official said that "on its face" the court order revealed by the Guardian did not authorise the government to listen in on people's phone calls, Tice now believes the NSA has constructed such a capability.

"I figured it would probably be about 2015" before the NSA had "the computer capacity ... to collect all digital communications word for word," Tice said. "But I think I'm wrong. I think they have it right now."

The Center for Constitutional Rights said in a statement that the secret court order was unprecedented. "As far as we know this order from the Fisa court is the broadest surveillance order to ever have been issued: it requires no level of suspicion and applies to all Verizon [business services] subscribers anywhere in the US.

"The Patriot Act's incredibly broad surveillance provision purportedly authorizes an order of this sort, though its constitutionality is in question and several senators have complained about it."

Mark Rumold, a lawyer with the Electronic Frontier Foundation, said: "This is confirmation of what we've long feared, that the NSA has been tracking the calling patterns of the entire country. We hope more than anything else that the government will allow a judge to decide whether this is constitutional, and we can finally put an end to this practice."

Howard Wolfson, a deputy mayor of New York, described the revelations as "a shocking report that really exploded overnight".

"A lot of people are waking up now and I think they will be horrified," he said. "It is not just the civil libertarian wings of the Republican and Democratic parties; I think most Americans will be really surprised that their government is having access to all of the phone calls they make."

"I don't think the administration's response [so far] is anywhere near adequate. I think you will see a lot of questions being asked in the coming days."

Oregon senator Jeff Merkley said: "This type of secret bulk data collection is an outrageous breach of Americans' privacy. Can the FBI or the NSA really claim that they need data scooped up on tens of millions of Americans?"

Search goes on after deadly Philadelphia building collapse - CBS News

Posted: 06 Jun 2013 09:58 AM PDT

Last Updated 12:40 p.m. ET

PHILADELPHIA As a bulldozer began to clear away the debris of a collapsed building that killed six people, city officials said a search for the dead and injured was nearly complete Thursday and an investigation had already begun to determine how a relatively commonplace demolition job could have gone so wrong.

Fire Commissioner Lloyd Ayers said crews still need to search about 20 percent of the site of the collapse, including the back of a thrift store onto which the vacant four-story building under demolition collapsed, an effort that was expected to last through the afternoon.

Firefighters were hosing down piles of bricks as heavy machinery scooped up massive piles of debris and filled a large receptacle to be trucked away. Inside what was left of the Salvation Army thrift store, an undisturbed rack of clothing remained standing in a rear corner.

Rescue efforts were buoyed early Thursday when a 61-year-old woman was pulled from the rubble alive and conscious 13 hours after the collapse. That woman, Myra Plekam, was hospitalized in critical condition and has floated in and out of consciousness. At least 14 others were hurt, many with minor injuries.

"That's why we stay the course," Ayers said. "This person being pulled out alive is what this rescue operation is all about."

Workers combed through bricks and rubble using buckets and their bare hands well into the night.

It was unclear what role the demolition work might have played in the collapse, but the accident raised questions about how closely the highly visible spot on Market Street, one of Philadelphia's signature boulevards, was being monitored, particularly amid word of the demolition contractor's many legal and financial troubles. Officials from the U.S. Department of Labor and Occupational Safety and Health Administration were at the scene.

"Buildings get demolished all the time in the city of Philadelphia with active buildings right next to them ... they're done safely in this city all the time," Mayor Michael Nutter said at a news conference late Thursday morning. "Something obviously went wrong here yesterday, and possibly in the days leading up to it. That's what the investigation is for."

Civil engineers not directly involved in the demolition accident told CBS radio station KYW that they believe two key changes could have prevented the tragedy: the wall should have been temporarily supported, and the neighboring thrift shop should have been evacuated.

Officials said every demolition project gets two inspections — one before work begins and a second when most of the building is down. The building that collapsed was one of three being taken down. Officials said they received a complaint in early May when the neighboring building was being demolished. An inspector visited the site on May 14 and found no violations, officials said. They said the building that collapsed was still fully intact on the date of that inspection.

For weeks, people working nearby had watched with growing concern as a crew took down the vacant four-story building next to a Salvation Army thrift store at the edge of downtown.

A roofer atop another building didn't think the operation looked safe. A pair of window washers across the street spotted an unbraced, 30-foot section of wall and predicted among themselves the whole building would simply fall down.

On Wednesday, that's what happened. The unstable shell of a building collapsed into a massive heap of bricks and splintered wood, taking part of the thrift store with it.

Witnesses said they heard a loud rumbling sound immediately before the collapse.

"I was standing there looking out my window, watching the men at work on the building, and the next thing I know I heard something go kaboom," said Veronica Haynes, who was on the fifth floor of an apartment building across the street. "Then you saw the whole side of the wall fall down ... onto the other building."

Several other witnesses said they had questioned how the demolition workers were tackling the job.

Roofer Patrick Glynn said he had been watching workers take down the building over the past few weeks, and he said he suspected a collapse was inevitable because of the way they were going about it.

"For weeks they've been standing on the edge, knocking bricks off," he said. "You could just see it was ready to go at any time. I knew it was going to happen."

Steve Cramer, who has been working as a window washer across the street, said the demolition crew left 30 feet of a dividing wall up with no braces and it compromised the integrity of the building

"We've been calling it for the past week — it's going to fall, it's going to fall," his co-worker Dan Gillis said.

Officials said the demolition contractor was Griffin Campbell Construction in Philadelphia. Messages left for Campbell were not returned.

Records show that Campbell was charged in 2005 with dealing crack cocaine near a playground. The charges were dismissed after prosecutors misplaced evidence.

He pleaded guilty in an insurance fraud case in 2009, and was acquitted of aggravated assault and related offenses in 2007.

Campbell has also filed for bankruptcy protection twice since 2010. The first bankruptcy was dismissed because he didn't follow through on a repayment plan approved by the court. A second bankruptcy petition was filed in March.

There were no existing violations on the collapsed building, and Campbell had proper permits for the work being done, according to Carlton Williams, of the city's Department of Licenses and Inspections.

The city issued a demolition permit for the four-story structure on Feb. 1. Records show the property owner as STB Investments Corp., a company linked to prominent businessman and developer Richard Basciano, who has been best known as the owner of porn theaters in New York City and Philadelphia.

Messages left at the company's New York offices were not immediately returned.

The accident happened on the western edge of downtown, between the city's business district and its main train terminal, 30th Street Station. The block had long been a seedy link between gleaming skyscrapers and the busy area around the station.

The collapse involved an empty building that once housed a first-floor sandwich shop and apartments above. The thrift shop was on one side. The other side was an adult bookstore and theater that had been taken down within the last few months.

A demolition expert wondered what precautions were taken to protect the Salvation Army store, especially since it remained open. Stephen Estrin, a Florida contractor who has testified as an expert at several trials involving building collapses, also questioned whether the demolition was being done by hand or with machinery. A piece of equipment with a claw device was seen amid the debris Wednesday.

"This is an inner-city demolition of a masonry building, which would normally be done manually because of the inherent risk — predictable if certain things are not done very slowly and very carefully — of a collapse," Estrin said. "One of the problems with claw work is it sets up a vibration in the walls."

Records show the collapsed building was sold to STB in 1994 for $385,894. Plans tentatively called for the block to be redeveloped into retail stores and apartments.

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