China 'bans' airlines from joining EU carbon scheme
China has "banned" all airlines in the country from joining the European Union's Emissions Trading Scheme (ETS) aimed at cutting carbon emissions.
The authorities have also barred the airlines from increasing their fares or adding new charges for the scheme.
The ban comes just weeks after the China Air Transport Association said its members did not support the ETS.
The scheme, implemented from 1 January, levies a charge on flights in EU airspace based on carbon emissions.
'Severe challenges'
The scheme has come in for severe criticism not just from China but also from other countries such as the US and Canada.
China has claimed that the plan could cost Chinese airlines 95m euros ($124m, £79m) in extra annual costs.
Analysts said that given the global economic conditions and an uncertain outlook for the travel industry, airlines were wary of the scheme hurting their profits.
"The sector is already facing quite severe challenges," Chris De Lavigne of Frost & Sullivan told the BBC.
"The airline industry as a whole has already been hit by high fuel costs in the past couple of years and no one wants additional cost factors coming in."
According to EU estimates, the scheme will see the cost of air fares rise by between 2 and 12 euros per passenger.
'Very tricky'
The move by the Chinese authorities is likely to complicate the issue as the EU will have to decide on what measures it will take from here on.
"It is going to be very tricky. You have to wait and see how the EU will react," Siva Govindasamy of Flightglobal told the BBC.
"They would be able to stop the Chinese airlines from flying to the EU, but that could see retaliatory action by China which will not be good for either side," he added.
Analysts said that given the differences between the various parties involved, the matter may have to be resolved by an international body.
"It could potentially end up on the desk of the World Trade Organization as the countries who are against it have said it is an unfair trade practice," said Frost & Sullivan's Mr Lavigne.
"Both sides have claimed that this is either fair or unfair, so it is very difficult to see how this is going to shape up."
Mitsubishi to close European plant
Japanese car maker Mitsubishi Motors is to end production at its only plant in Western Europe.
Production has fallen at Mitsubishi's car plant at Born in the Netherlands to just 50,000 cars, as Mitsubishi's European sales have dropped sharply.
It has not yet announced plans for the site, which employs 1,500 workers making the Colt and Outlander models.
Mitsubishi cars in Europe will be imported from Japan and Thailand where the company is building a new plant.
'Fluctuating environment'
Production will stop at the factory at the end of this year.
The company had already announced plants to stop building the Colt at the plant, but had hoped to allocate a new model to the facility.
However, it said difficult economic conditions made that impossible.
"Due to the wildly fluctuating operating environment which automobile manufacturers currently face, MMC (Mitsubishi Motors) could not come up with a reasonable solution to utilise NedCar [Netherlands Car]," the company said in a statement.
The plant started in 1991 as a joint venture along with Volvo and the Dutch government, before being bought out by Mitsubishi in 2001.
Last week, the company reported a profit for the three months to the end of December after a cost cutting drive.
The firm announced third quarter net income of 13.6bn yen ($177m, £112m).
HTC profits rise but sales set to fall
Taiwan smartphone maker HTC has posted a jump in profits, but says recent sales have been hit as it faces tougher competition from rivals such as Apple's iPhone and Samsung's Galaxy range.
It reported post-tax profits of 61.98bn Taiwan dollars ($2.1bn; £1.33bn) for 2011, up 57% on the previous year.
Annual sales rose 67% to NT$465.8bn, despite a 20% sales fall in December.
However, it expects sales in the first three months of this year to drop by more than a third.
The firm has struggled to keep pace with rival smartphones, and it plans to launch four new models at the Barcelona Mobile World Congress later this month.
It expects sales to fall in the first quarter to fall by as much as 36% to between NT$65bn and NT$70bn, down from NT$101.42bn in the previous three months.
HTC added 1,000 new engineers to its ranks in the last year in a bid to keep its smartphone range competitive.
Peter Chou, chief executive of HTC, said: "While short-term performance may not meet the results as expected, we have gained further experience and advancement in the areas of brand management and product innovation.
"These fundamental strengths and the groundwork we have laid will take us into 2012 with a renewed focus and determination."
Euro crisis could almost halve China's growth, IMF says
A eurozone recession could almost halve Chinese growth this year, according to the International Monetary Fund (IMF).
The IMF forecasts China's economy will grow by 8.2% this year - but warns that a recession in the eurozone could cut this to 4.2%.
It said Beijing should get ready to inject billions of dollars into the economy to fend off any downturn.
China's economy grew by 9.2% in 2011, but growth was slowed by Beijing to avoid over-expansion.
The IMF's report comes as Greece enters another day of crisis talks aimed at finalising a 130bn-euro (£108bn; $171bn) European Union bailout.
Athens needs the money by mid-March to avoid default on its debts.
Room for manoeuvre
In its report, the IMF said: "China's growth rate would drop abruptly if the euro area experiences a sharp recession.
"However, a track record of fiscal discipline has given China ample room to respond to such an external shock."
The government should cushion the impact of a deeper slowdown with measures including tax cuts that amount to about 3% of gross domestic product, the IMF said.
It also noted that inflation had reached more comfortable levels by the end of 2011 and may continue to slow steadily in the first few months of this year.
The outlook expands on the IMF's warning last month that the world could plunge into another recession if Europe's financial crisis deepens.
IMF chief Christine Lagarde said last month that the world faced "an economic spiral reminiscent of the 1930s" unless the eurozone crisis was resolved.
Chinese leader Wen Jiabao reiterated last week that his government would "fine-tune" policies to support growth amid the eurozone's debt crisis.
China Stresses Need for Stability in Tibet
China has warned officials in Tibet that they must maintain stability ahead of the fourth anniversary of deadly riots in Tibet's capital, Lhasa.
China has increased security in Tibet and adjoining provinces following a series of self-immolations and sporadic protests against Chinese rule.
On Monday, the India-based administration of Tibetan exiles cited “unconfirmed reports” that three Tibetans set themselves on fire Friday in Serthar, a Tibetan area of China's Sichuan province. If confirmed, it would bring to at least 19 the number of monks, nuns and lay Tibetans believed to have burned themselves over the past year.
Chinese media has denied the reports.
The unrest is the worst since 2008, when 22 people died in rioting in Lhasa and Tibetan areas in adjoining provinces.
In a statement from its seat in the northern Indian town of Dharamshala, the exiled Tibetan government said the spate of self-immolations “indicate to us that the Chinese policies in Tibet have reached new levels of repression.''
China, in turn, blames exiled Tibetans for stoking the protests, especially Tibet's spiritual leader the Dalai Lama, who fled to India in 1959 after a failed uprising.
Factory Collapse in Pakistan Kills 3, Traps Dozens
Pakistani officials say a three-story factory has collapsed in the eastern city of Lahore, killing at least three people and trapping dozens of others.
Officials are blaming Monday's collapse on a gas explosion. They say 62 people, including women and children, were inside the factory at the time of the incident. One of the victims may have been as young as 10 years old.
Emergency workers so far have rescued at least 13 people from the rubble and are continuing to search for survivors.
Authorities say the factory, which produced veterinary medical products, had been ordered closed. It was not immediately clear why it was ordered shut or why it was operating despite the closure order.
At Least 17 Killed in Syrian Attack on Homs
Syrian rights activists say at least 17 people have been killed and many more wounded in a new bombardment by Syrian forces on the flashpoint city of Homs.
Arabic satellite television stations broadcast images from Homs Monday that showed smoke billowing into the sky from buildings damaged in the violence. The attacks occurred in several parts of Homs, where an oil pipeline also exploded.
Syrian state television says “terrorist gangs” were behind the bombings.
There was no independent confirmation of the casualties as Syria restricts independent reporting in the country.
The violence comes several days after activists reported what they called a massacre in Homs, saying at least 200 people died in a government bombardment late Friday into Saturday, in what appeared to be one of the deadliest incidents of the 11-month revolt.
Homs has become a focal point of opposition resistance to the government of Syrian President Bashar al-Assad.
Meanwhile, China reiterated its defense of its veto of a U.N. Security Council resolution that would have endorsed an Arab League plan for Mr. Assad to transfer power. Chinese Foreign Ministry spokesman Liu Weimin also rejected criticism that China is favoring President Assad's regime in the conflict.
China and Russia vetoed the Western and Arab-backed resolution on Saturday, a move criticized by Western governments.
Russia said it vetoed the resolution because of what it viewed as “ultimatum-like” demands for the removal of Mr. Assad, Moscow's only military ally in the Middle East. China said it issued a veto to oppose what it perceives as an effort to promote “regime change” in Syria through “external force,” in violation of international norms.
U.S. Secretary of State Hillary Clinton denounced the double veto as a “travesty.” She said the United States will work with its allies outside the United Nations to tighten “regional and national” sanctions on Syria.
Syria's opposition uprising against Mr. Assad's autocratic rule has escalated in recent months into open conflict between rebels and pro-Assad forces. Last month, the United Nations estimated the death toll from the unrest at 5,400 before it stopped updating the figure because of difficulties in obtaining information.
On Sunday, activists said fighting between pro-Assad troops and loosely-organized rebels killed at least 56 people, about half of them civilians.
Palestinian Factions Agree to Form Unity Government
Rival Palestinian factions Fatah and Hamas have agreed to form a unity government led by current President Mahmoud Abbas.
A Palestinian official said Monday the agreement was reached at a meeting in Qatar.
The official said the deal calls for Mr. Abbas to assume the role of prime minister, replacing Western-backed Salam Fayyad.
It was not immediately clear when the new government will be formed.
Hamas and Fatah first agreed to form a unity government in May of last year. Hamas rules the Gaza Strip, while Fatah heads the more moderate Palestinian Authority in the West Bank.
Hamas, an Islamic militant group regarded by the West as a terrorist organization, won a landslide victory in Palestinian elections in 2006. It took over Gaza from forces loyal to Mr. Abbas's Fatah movement in 2007, after months of factional unrest.
Patriots heartlessly release Tiquan Underwood with hours before the Super Bowl XLVI
Tiquan Underwood, the guy who loved being a Patriot so much that he did that to his hair, was released by the team on Saturday, just hours before the Super Bowl.
It's callous and it's cold-blooded, but that's football, and that's Bill Belichick. I'm sure that Underwood is emotionally devastated, but that's a head coach's job. If he feels like another player might help a little more on Sunday, even if it's just for one play, then it's the coach's job to make that decision. Feelings aren't a part of it.
Underwood probably didn't expect this, but he's no stranger to being released, either. It's the third time the Patriots have cut him this season.
What might make it even harder on the guy is that he didn't do anything wrong. And in an impressive four-tweet barrage following his release, Underwood put it all in perspective.
That, friends, is a class act.
According to the Boston Herald, the move has no disciplinary motive behind it. The Patriots simply wanted another defensive lineman on the roster. Alex Silvestro (ironically, like Underwood, a Rutgers product) is the guy who will take his place. He's been on the Patriots practice squad all season.
Belichick recently spoke glowingly of the Rutgers players on the Patriots roster, Underwood, Silvestro, Nate Jones and Devin McCourty.
"I think all four players are very team-oriented, and they come from a great program. I think that program has, under Coach (Greg) Schiano, prepared their players well for the NFL. I think if you look around the NFL, you see a lot of players from Rutgers in the league, not necessarily all of them are high draft choices like (Devin) McCourty, also including other players who were not drafted or lower draft choices. They've made teams, and I think that speaks to the preparation of that program in terms of getting players ready to play in the NFL — how to prepare, how to work, how to train, how to compete, how to play football similar to the way it is played in the NFL. Those four players have done a good job for us. In terms of the program, you can see those types of players on a lot of teams. When they get to the NFL, most of those players end up making it, at least for a while."
In the grand scheme of things, Underwood still has to count himself lucky. He was a part of a Super Bowl team. He experienced everything about Super Bowl week except for the Super Bowl itself. And if the Patriots go on to win, he'll still get a ring, and it will be just as big and shiny as Tom Brady's or Wes Welker's.
Rodgers wins MVP by landslide
Green Bay quarterback Aaron Rodgers has won the 2011 Associated Press NFL Most Valuable Player award in a landslide.
Rodgers earned 48 votes to two for New Orleans quarterback Drew Brees in balloting by a nationwide panel of 50 media members who regularly cover the NFL. The Packers star is the first Green Bay player honored since Brett Favre concluded a run of three straight seasons as MVP in 1997.
"It means a lot to be recognized as a consistent player and contributing on my team," Rodgers said. "I think it's an award that relies on a player having the support of his teammates, obviously, guys blocking, guys running, guys catching, guys making plays. But I'm very honored to receive the award."
Rodgers received a standing ovation after his name was announced by Indianapolis Colts quarterback Peyton Manning, the league's only four-time MVP. The award was presented on the "NFL Honors" primetime special Saturday night on NBC.
"We're all really excited to see you back on the field next year," Rodgers told Manning.
Rodgers led the NFL in passing with a 122.5 rating built on 45 touchdown passes, six interceptions and a 68.3 completion percentage as the Packers went 15-1 and won the NFC North. The Packers were beaten by the New York Giants at Lambeau Field in the divisional round.
"People really count on me to be consistent each week, to play well. Knowing that my performance, the fact that I touch the ball every play, I have a direct impact on the game, the way I play," Rodgers said. "And if I'm playing consistent and doing things I know I'm supposed to do, we've been able to have some success because of it."
He joins former Packers Bart Starr, Jim Taylor and Paul Hornung as MVPs.
SI