G20 ministers meeting to discuss eurozone debt crisis
Finance ministers from the G20 group of nations are meeting in Paris to continue efforts to find a solution to the debt crisis in the eurozone.
While Greece remains the central focus, fears remain that the crisis could spread to other highly indebted eurozone countries such as Spain and Italy, and exposed European banks.
Greece needs its next bailout loan next month to avoid defaulting on its debt.
Spain was hit by a further credit rating cut on Thursday.
Standard & Poor's reduced Spain's long term rating by one notch, citing weak growth and high levels of private-sector debt.
It came a week after fellow credit rating agency Fitch also cut Spain's rating.
On Thursday, Fitch also downgraded the creditworthiness of UK banks Lloyds and RBS, and also Switzerland's UBS.
Funding issues
The euro rose as high as $1.3828 against the dollar in Friday trading, on optimism about the meeting of G20 finance ministers.
However, analysts caution that any major decisions on tackling the eurozone debt crisis will not be announced until the meeting of European Union (EU) leaders on 23 October.
These are expected to include an agreement on increasing the funding and powers of the European Financial Stability Facility (EFSF), the fund set up to help national governments in financial difficulty.
The European Commission President, Jose-Manuel Barroso, said on Friday that any decisions taken on banks or on the eurozone's EFSF rescue fund at that meeting should take effect immediately.
Mr Barroso said: "Any decision should be enforced immediately, concerning the strengthening of the EFSF or concerning increased guarantees for our banks."
Warning
Measures to protect European banks with high levels of exposure to eurozone national debt are also expected to be decided by EU leaders.
Prior to the meeting, South Africa's Finance Minister Pravin Gordhan warned that International Monetary Fund (IMF) and EU resources may be "inadequate" if the eurozone debt crisis worsened.
US Treasury Secretary Timothy Geithner disagreed, saying that both the IMF and EU already had sufficient funds.
He said: "As we look at the world today, the IMF has very substantial, uncommitted, available financial resources.
"Of course, Europe as a whole has resources available to help with the financial problems.
"The problems that they are facing there in Europe are complicated to solve, but well within the resources that Europe has."
Mr Geithner also said the G20 was looking for a "clear commitment" from Europe to deal with the debt crisis.
He told CNBC television from Paris: "What you need is the clear commitment by the governments, that they will do what is necessary to hold this together and put as much resources behind this as is necessary."
He said Europe "is clearly moving" to deal with the crisis.
Mr Geithner is expected to make a fresh call at the G20 meeting for China to allow its currency, the yuan, to trade freely.
Washington has long accused Beijing of keeping the yuan undervalued to make Chinese exports artificially competitive.
Greek focus
Athens is now likely to get its next loan instalment in November after inspectors from the EU, International Monetary Fund (IMF) and European Central Bank said they had reached agreement with the Greek government on further austerity measures in the country.
The representatives from the so-called troika had been in Athens to check on whether the Greek government was carrying out sufficient spending cuts and tax raising measures.
Greece's next 8bn euros ($11bn; £7bn) payment of EU and IMF funds has been delayed since the troika inspectors called off earlier inspections in Athens at the start of September.
However, inspections resumed after the Greek government pledged further austerity moves, despite widespread protests.
Protests against spending cuts are also continuing in Spain.
S&P downgrades Spain on weak growth outlook
Standard & Poor's (S&P) has cut Spain's long-term credit rating by one notch, from AA to AA-, because of weak growth and high levels of private sector debt.
The ratings agency added that the country's high unemployment would remain a drag on the economy.
Last week, the Fitch agency also cut Spain's rating, a process that can raise a country's borrowing costs.
S&P's move comes as G20 finance ministers are due to meet on Friday to discuss the eurozone crisis.
On Thursday, Fitch downgraded the creditworthiness of UK banks Lloyds and Royal Bank of Scotland (RBS), and also Switzerland's UBS.
'Weaken further'
Explaining its decision to downgrade Spain, S&P said: "Despite signs of resilience in economic performance during 2011, we see heightened risks to Spain's growth prospects due to high unemployment, tighter financial conditions, the still high level of private sector debt, and the likely economic slowdown in Spain's main trading partners."
It noted the "incomplete state" of labour market reform, and added: "The financial profile of the Spanish banking system will, in our opinion, weaken further."
S&P also warned of a further ratings cut if Spain's economy worsens.
Its move comes as activists opposed to the Spanish government's continuing austerity measures, the so-called "indignants", are due to hold a protest march in Madrid on Saturday.
In addition to downgrading UBS, Lloyds and RBS, Fitch said it had put 12 other banks on notice that they may receive the same treatment.
The other lenders it has warned include Germany's Deutsche Bank and US group Goldman Sachs.
Fitch said it noted "increased challenges" facing the financial markets as the eurozone debt crisis and government spending cuts continue to affect banks.
Last week, Fitch fuelled concerns about the debt crisis when it downgraded Spain and Italy, citing the "intensification" of the eurozone's economic and financial problems.
Political moves
The euro fell to $1.3723 immediately following S&P's announcement, before recovering to $1.3774 in early Friday trading.
Analysts said this was due to optimism that the G20 meeting of finance ministers may announce new agreements on tackling the crisis in the eurozone.
However, other commentators say any firm decisions on the eurozone will not likely be announced until the meeting of EU leaders on 23 October.
One expected agreement will be increasing the funding and powers of the European Financial Stability Facility, the fund set up to help national governments in financial difficulty.
Measures to protect European banks with high levels of exposure to eurozone national debt are also expected to be decided.
Caribbean officials banned by FIFA in cash-for-votes probe
FIFA has taken action against several Caribbean football officials involved in the meeting that led to former presidential candidate Mohamed bin Hammam being banned for life.
Hammam, who was to be Sepp Blatter's only opponent at the June 1 election, had hoped to win votes at the Caribbean Football Union's meeting on May 10-11.
However, the former Asian Confederation head withdrew from the race after being accused of offering cash to Caribbean delegates and this month lost an opening legal battle to be reinstated.
FIFA's ethics committee announced on Friday that Franka Pickering of the British Virgin Islands has been banned from all football-related activities for 18 months and fined 500 Swiss francs ($560).
Jamaica's Horace Burrell was banned for six months, with half of that suspended for a two-year probationary period.
Blazer to step down from CONCACAF role
The committee handed 30-day bans to the Dominican Republic's Osiris Guzman and Ian Hypolite of St. Vincent and the Grenadines, with half of those suspended. They were also fined 300 francs.
Aubrey Liburd of the British Virgin Islands and Hillaren Frederick of its U.S. counterpart were fined the same amount, and reprimanded along with Anthony Johnson of St. Kitts and Nevis.
FIFA handed warnings to David Hinds and Mark Bob Forde of Barbados, Trinidad & Tobago's Richard Groden, Yves Jean-Bart of Haiti and Jamaica's Horace Reid.
Felix Ledesma of Dominican Republic was cleared, while the hearing of Guyana's Noel Adonis was postponed.
David Frederick (Cayman Islands) and Joseph Delves (St. Vincent and the Grenadines) escaped any interrogation as they are no longer football officials.
Source:CNN
Age just a number for evergreen Hopkins
Bernard Hopkins first became a world champion 16 years ago and, aged 46, the American boxer made history in May when he was awarded a points victory over Canadian Jean Pascal to become the sport's oldest-ever holder of a global belt.
The World Boxing Council (WBC) light heavyweight champion surpassed the record held by compatriot George Foreman with his win in Montreal, with Hopkins set to become the oldest pugilist to defend a world title if he defeats Chad Dawson on Saturday.
If Hopkins emerges victorious at the Staples Center in Los Angeles it would mark the latest achievement in a career which has seen the veteran overcome adversity to reach the top of his sport.
"I love what I do," Hopkins told CNN. "I love to work out, I love to win and I'm going to take advantage of it until I can't do it no more.
"It means a lot that I'm in the history books again ... also it sets up for what comes next. Obviously this Saturday with Chad Dawson ... also becoming the second-oldest fighter to be fighter of the year."
Unsurprisingly, Hopkins is significantly older than his opponent this weekend. Dawson, currently ranked by Ring Magazine as the fourth-best light heavyweight in the world, is 29, 17-years younger than the Pennsylvania-born Hopkins.
"29-years-old, as we've seen with Jean Pascal, as we've seen with Kelly Pavlik, as we've seen with most of the guys I've fought that are younger than me at least by 15 years.
"If it's just age, if it's just height. If it's just things that have nothing to do with the IQ ... That's not enough to beat Bernard Hopkins.
"And I mean that. I mean that with confidence and I don't mean that with just promoting. I mean that ... because of how I've been disciplined over these years to train and live and think that way."
But despite his age, Hopkins will not be the oldest fighter on the card in California on Saturday. That honor will belong to Dewey Bozella.
The 52-year-old cruiserweight who will be making his debut as a professional boxer in a four-round cruiserweight bout against Larry Hopkins, no relation to Bernard Hopkins, but that is only half of his incredible story.
Bozella spent 26 years in New York's Sing Sing prison after being found guilty of murder in 1983, before having his conviction overturned two years ago.
During his incarceration, Bozella focused on boxing an was even crowned the Sing Sing heavyweight champion.
His story is one which resonates with Hopkins, who served a five-year stretch in Graterford Prison, Pennsylvania between 1983 and 1988.
So impressed was Hopkins with Bozella that he has been training with the newcomer ahead of his much-anticipated fight.
"It inspired me," said Hopkins of Bozell. "He chose to do what he did, and not only did he get freedom, but he got humanity. An opportunity to do something that was taken from him years and years ago. To be on a major, major fight card.
"And now that we became, I can say friends, and have understanding about that dark place that I put myself in, you know, I wasn't innocent. But we still understand that dark place. Everybody has a story, but his is beyond a story."
Murray faces Nishikori in Shanghai semis
World No. 4 Andy Murray is on course to reach a third successive Asian final after ending the Shanghai Masters hopes of Australian qualifier Matthew Ebden on Friday.
The Briton had few difficulties in winning 6-3 6-2 against a player who will rise from 124th to 80th in the next rankings release.
Defending champion Murray, who won the Thailand and Japan Open titles this month, will next face Japan's Kei Nishikori in the semifinals.
"I created a lot of chances. I had game points in almost every one of his service games during the match. I could have done with being a bit more clinical," the Scot told the ATP Tour website after his 13th successive win and 23rd from his last 24 matches.
"I feel like I can play better. I served well so far. But I think I can hit the ball a bit better from the back of the court. And, like I said a few days ago, it's different conditions to the last couple of weeks."
The 47th-ranked Nishikori reached his first Masters semifinal with a 6-4 6-3 win over Ukrainian 12th seed Alexandr Dolgopolov.
"I feel like home here," the 21-year-old said. "It means a lot to play semis here. I'm really excited now."
Third seed David Ferrer went through after beating American No. 10 Andy Roddick in the highlight of the quarterfinal draw, triumphing 6-7 (5-7) 6-2 7-6 (7-2).
Roddick beat Ferrer at the U.S. Open last month, but is still battling to qualify for one of the remaining places at the top-eight ATP World Tour finals in November. World No. 5 Ferrer has already sealed a place but Roddick is an outside chance at 16th in the standings.
Ferrer will next face fellow Spaniard Feliciano Lopez, who eliminated German 15th seed Florian Mayer 6-2 6-4 to reach the semis in Shanghai for the second time.
Mayer knocked out world No. 2 Rafael Nadal on Thursday.
Wimbledon champion Petra Kvitova reached the semifinals of the Generali Ladies Open in Austria on Friday, a tournament where she was runner-up in 2009.
The Czech top seed beat Slovakia's No. 8 Daniela Hantuchova 6-2 6-2 to set up a clash with former world No. 1 Jelena Jankovic.
The Serbian third seed was too strong for Russia's Evgeniya Rodina -- who made it to the main draw as a lucky loser -- as she won the late match 6-2 6-4 in just under 90 minutes.
Kvitova's compatriot Lucie Safarova also went through to the last four, beating Romania's Sorana Cirstea 7-5 6-2.
Safarova will play Slovakian seventh seed Dominika Cibulkova, who came from behind to overcome Australia's Anastasia Rodionova 6-7 (5-7) 6-2 6-1.
Steven Seagal hired to control U.S.-Mexico border
Steven Seagal has once again been hired to serve and protect, except it doesn't sound like there will be any reality show cameras following him around this time.
The "Above the Law" actor was sworn in this week as a deputy with the sheriff's office in Hudspeth County, Texas. The 59-year-old, who's no stranger to law enforcement and is also trained in Aikido, will help control the U.S.-Mexico border, according to the San Antonio Express.
The paper reports that Seagal reached out to the Hudspeth County Sheriff's Office himself about two months ago, seeking employment. Says Sheriff Arvin West, "Seagal is not in this for celebrity or publicity. He's like the rest of us that live down here; he has a sincere passion for his country and he wants to do more to help."
Although cameras captured Seagal's work as a reserve deputy with the Jefferson Parish Sheriff's Office in Louisiana for A&E's "Steven Seagal: Lawman," it doesn't appear his full-time work with Hudspeth County's department will eventually serve as fodder for TV.
The San Antonio Express reports that a spokesman for the Hudspeth County Sheriff's Office says Seagal's employment with them isn't part of the A&E show. (Production was also halted on "Steven Seagal: Lawman" in 2010 when a former model alleged that Seagal used her as a "sex toy" after she was hired to be his assistant.)
"The television aspect of what we're doing here is the last priority," the spokesman said. "The man has a pure motive in doing this. He knows what we're up against and wants to help."
Seagal is scheduled to start his new gig early next year. While it's unknown if he'll be paid, the spokesman for the sheriff's department says deputies are typically paid about $15 an hour.
Vybz Kartel remanded again
JAMAICAN dancehall Deejay Vybz Kartel, was ordered to return to court on October 26 when his trial for murder, conspiracy to murder and illegal possession of a firearm will continue.
No bail application was made by his attorneys on his behalf today as the court wanted to verify claims that complaints were made to Public Defender Earl Witter by witnesses who claimed they were being intimidated by persons loyal to the embattled Deejay.
The court ordered that if the claims were true, then documents with the details should be served on the defense.
Damon Dash, Mos Def, Ski Beatz Sued Over “24 Hour Karate School” Compilation
Hip-Hop mogul Damon Dash, rapper Mos Def and producer Ski Beatz are being sued by rap/funk/soul label TufAmerica, over a compilation that was released last year.
TufAmerica filed a lawsuit against Damon Dash, Dante Smith (Mos Def) and David Willis (Ski Beatz) in the United States District Court, Southern District of New York, on Wednesday (October 12).
The lawsuit claims Mos Def illegally sampled the songs “Hook & Sling Part 1” and “Hook & Sling Part 2,” illegally.
The sample was used in the track titled “24 Hour Karate School” and the accompanying video for the single, which was given away at the 24hrkarateschool.com website.
The lawsuit claims that the 24 Hour Karate School recordings were made available for download without the proper permission.
TufAmerica is seeking, compensatory and punitive damages, in addition to an injunction barring any further distribution of the 24 Hour Karate School mixtape.
Rick Ross Suffers Seizure; “100 pct ok” According to Wale
Rapper Rick Ross reportedly went unconscious after suffering a seizure on a flight from Ft. Lauderdale, FL to Memphis, TN.
The flight was reportedly forced to make an emergency stop after Ross suffered the seizure, and upon landing paramedics desperately performed CPR to revive Ross.
While details are still emerging, eyewitness reports say Ross is showing signs of life.
“I just talked to Ross…he’s 100 pct ok…@tmz #dontpanic #dontpanic #mmg !!!! #gfid dec 13th!” Maybach Music artist Wale tweeted just minutes after reports surfaced on TMZ.
Three Caribbean female artistes to be honoured ... at Heroes Day Salute
Three Caribbean female artistes, two from Jamaica and another from Barbados, will be honoured by the organisers, The Friends of St Catherine Incorporated (FOSC), at a Heroes Day Salute concert at the Mas Camp on Monday night.
The female artistes from Jamaica are Tanya Stephens and Alaine, and from Barbados, soca queen Alison Hinds.
The organisers have taken the opportunity to use these three female artistes to headline each segment of the show, dancehall - Alaine; soca - Alison Hinds; reggae - Tanya Stephens.
Also performing on the show are former Magnum Kings and Queens finalist, Specialist, Villa Vil, and soca singer Shadow Man from St Maarten.
Tinga Stewart and Eddie Fitzroy are also confirmed for the show. Kurfew will be the backing band. The FOSC is a charity organisation that was established to assist the community to build and improve the artistic, cultural, educational, recreational and social well-being of residents in the parish of St Catherine. Each year, the organisation hosts various fund-raising events in a bid to raise funds to support the various charities it assists.
Meanwhile, the Heroes Day Salute will be hosting two promo parties at the Natural Touch Vegetarian Café (18 Barbican Road, Shop # 22, Orchid Village Plaza), on Saturday, October 15, from 12 p.m. - 6 p.m. This promo party is free and is set to allow fans of the artistes to meet and mingle with the Heroes Day Salute performers. Persons attending these parties will have the opportunity of getting autographs and photos with their favourite artistes.