Rabu, 16 Oktober 2013

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US stocks jump on budget deal

Posted: 16 Oct 2013 04:31 PM PDT

NEW YORK CITY: An 11th-hour deal to end the government shutdown and raise the US debt ceiling sparked a strong rally on Wall Street Wednesday, with gains of nearly 1.4 per cent.

The Dow Jones Industrial Average closed up 205.82 points (1.36 per cent) at 15,373.83. The broader S&P 500 rose 23.48 (1.38 per cent) to 1,721.54, and the Nasdaq Composite gained 45.42 (1.20 per cent) at 3,839.43.

Although it was not a completely done deal -- final votes were still required in both houses of Congress late Wednesday -- it was expected that the crisis that had unnerved global markets would be over by Thursday.

"This agreement is likely to prevent a government default on its debt and spending as well as re-open previously closed non-essential government services," said Gary Thayer at Wells Fargo Advisors.

"However, the compromise does not resolve all the budget problems; it only provides a temporary postponement. Nevertheless, reducing the risk of default could help lift sentiment and boost economic activity over the near term."

Big banks led the surge: Bank of America, which beat profit forecasts for its third quarter, gained 2.3 per cent, Citigroup 4.1 per cent and JPMorgan Chase 3.2 per cent.

In Nasdaq tech shares, Facebook led the way with a 3.3 per cent jump while Google added 1.8 per cent.

Fresh third-quarter earnings from a number of companies had a mixed impact.

Dow component Intel rose 1.3 per cent despite cutting its forecast for the rest of the year. For the third quarter the chipmaker beat forecasts slightly.

Railway operator CSX fell 0.8 per cent despite a 1.8 per cent gain in quarterly profits. The company pointed out a significant drop in the volume of coal it hauls.

Pepsico shares were up 2.1 per cent despite third-quarter earnings of US$1.91 billion that were barely higher than a year earlier.

Apple shares were 0.5 per cent higher despite reports that it had cut back orders for its new iPhone 5C due to slow demand in the market for the smartphone.

Toolmaker Stanley Black & Decker dropped 14.3 per cent after sharply cutting its earnings forecast for the year, even as the company reported a 44 per cent profit gain for the third quarter. -- AFP

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Senator: Announcement of Senate deal may be imminent - CNN International

Posted: 16 Oct 2013 08:18 AM PDT

[unable to retrieve full-text content]

U.S. News & World Report

Senator: Announcement of Senate deal may be imminent
CNN International
Washington (CNN) -- [Breaking news update at 10:55 a.m.]. Senate Republican leaders met Wednesday before a gathering of the full GOP caucus, and Sen. Kelly Ayotte of New Hampshire said the announcement of a deal to reopen the government and ...
Senate Reaches Bipartisan Fiscal DealNew York Times
Leaders Adding Final Touches to Senate Budget DealWall Street Journal
House may vote first on Senate government shutdown/debt-limit planLos Angeles Times
Washington Post -Fox News -Politico
all 1,308 news articles »

Sheriff weighs charges for parents in bullying death - USA TODAY

Posted: 16 Oct 2013 08:54 AM PDT

The sheriff who arrested two girls for allegedly bullying a 12-year-old into committing suicide says authorities are trying to decide whether they can also charge one of the suspect's parents.

The pair — ages 12 and 14 — were arrested Monday and charged with third-degree felony aggravated stalking in connection with the death of Rebecca Sedwick, of Lakeland, Fla., who jumped from a cement factory tower Sept. 9.

Rebecca, who authorities say was bullied relentlessly for months, was "terrorized" by as many as 15 girls physically and online. One message to Rebecca said she should "drink bleach and die.''

Polk County Sheriff Grady Judd said Tuesday that the bullying began after the 14-year-old suspect began dating a boy Rebecca had been seeing. She "began to harass and ultimately torment Rebecca," Judd said, and prodded the 12-year-old to join in.

The younger suspect has shown "remorse and cooperation" over the incident and was released into her parents' custody, according to the Polk County Sheriff's Office. The older suspect, described by Judd as "very cold," remains in juvenile custody.

The sheriff said authorities are still investigating the girls, and also trying to decide whether the parents should be charged.

"I'm aggravated that the parents aren't doing what parents should do," Judd told reporters. "Responsible parents take disciplinary action."

CYBERBULLYING: A wake-up call for parents about monitoring Web use

Judd told NBC's Today on Wednesday that investigators so far have found no criminal charges that could be filed against the parents, "but if we can find contributing to the delinquency of a child, we would certainly bring that charge."

He said the parents of the 14-year-old suspect are in "total denial."

"They don't think there is a problem here, and that is the problem," he said. Judd added that the girl's parents gave her back her Facebook access even after learning about her alleged bullying of Rebecca. "That's terrible," he said. "That's why we moved fast to lock their daughter up."

The sheriff said the tipping point leading to the arrests came when the older suspect allegedly posted on Facebook on Saturday: "Yes ik [I know] I bullied REBECCA nd she killed her self but IDGAF [I don't give a (expletive)]"

"We decided, look, we can't leave her out there," the sheriff told reporters. "Who else is she going to torment? Who else is she going to harass? Who is the next person she verbally and mentally abuses and attacks?"

The suspect told deputies that her Facebook account was hacked and that she did not write that post, WTSP-TV reported.

A man who answered the phone at the older suspect's Lakeland home told the Associated Press that he was her father and said that "none of it's true."

"My daughter's a good girl, and I'm 100% sure that whatever they're saying about my daughter is not true," he said.

A man who answered the door at the home of the younger suspect identified himself as her father. He told WTSP that he had lost a daughter himself years ago and that his whole family is devastated over what happened to Rebecca.

"I feel horrible about the whole situation, but like I said, there's two sides to every story," he told the Tampa TV station.

"The day that this happened, we all felt super horrible. I've even brought my daughter numerous times to the grave where she jumped. She even went over there and prayed at night, but that's all that can be done right now and I can't really say too much more," he said.

John Borgen, the boyfriend at the center of the feud between Rebecca and the two suspects, said he was "shocked" by her suicide.

"(It) made me mad because she should have just told somebody," Borgen told WTSP. He said he knew as many as 15 girls from school were teaming up against his former girlfriend, but never expected what happened.

"They need to take life seriously," Borgen said. "Why do you need to be bullying somebody?"

Rebecca's mother, Tricia Norman, told reporters that the day the arrests were announced was "really rough," WTSP-TV reported.

"It is bittersweet for me," she said. "There's some relief. There's some regret. There's some sadness because of her birthday being this weekend."

Norman, who has created an anti-bullying page on Facebook in her daughter's name, said the suspects needed help.

"I can't say that I want these girls to spend the rest of their time in jail or any time in jail, but they do need serious rehabilitation," she told reporters.

Rebecca's mother said both girls were former friends of her daughter and that the younger girl had even been in her home for a slumber party.

"I had to ask her to leave because of problems with other girls. She was doing bad things and gossiping; she made other girls cry," she said. "I told her she had to leave. I always had a bad feeling about that girl."

Sheriff Judd, noting the suspects have clean criminal records, said that the girls — if convicted — are not likely to serve much time in jail, if any.

Contributing: Associated Press

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