West Ham delighted by Olympic Stadium bid verdict
West Ham co-owner David Gold said the endorsement of their bid to move into the 2012 Olympic Stadium represented a "great day for Great Britain".
The Olympic Park Legacy Company (OPLC) chose the east London club's bid over a rival proposal from Tottenham.
"We are very, very excited about what happened today and it is nice to be on the winning side," Gold told reporters at the Olympic site in Stratford.
"We represented what is right, what is fair and what is honest."
The OPLC board voted unanimously in favour of the proposal from West Ham and their partners Newham Council, who had promised to retain the athletics track at the stadium.
The Spurs bid would have involved knocking down most of the existing stucture to build a new one and expanding athletics facilities at Crystal Palace, rather than keeping the sport in Stratford.
Gold said a victory for the Spurs bid would have broken the promise of London 2012 chief Seb Coe, who had pledged to maintain a track and field legacy at the stadium.
t is a great day for England and Great Britain because we are keeping our promise," he added.
"Lord Coe gave a promise on behalf of us all and it would have been a tragedy if that had been broken."
The OPLC board's decision still needs to be ratified by London Mayor Boris Johnson and two government departments.
In a statement tinged with resignation, Spurs accepted the OPLC's verdict but demanded that West Ham's pledge to keep the running track at the stadium be legally binding.
"Much has been made of the promise to keep the athletics track within the Olympic Stadium and, therefore, we should all expect to see the retention of this track firmly embedded and legally guaranteed by those entrusted with this legacy commitment, today and in the future," the statement read.
"The OPLC's decision has still to be approved by two Government departments and the Mayor's Office. We shall continue to monitor the bid process over the coming weeks up until its final determination, whilst reviewing our position and holding discussions with our advisors."
Assuming West Ham's move is rubber-stamped, Tottenham are expected to push ahead with their plans to build a new £400m stadium on the site on their current home at White Hart Lane.
Spurs boss Harry Redknapp said West Ham would lose a lot of the atmosphere of Upton Park if they move to a ground with a running track.
"Good luck to them if that's what the fans want [but] I wouldn't want to watch football matches with a track around [the pitch]," said Redknapp, who West Ham manager between 1994 and 2001. "There is no atmosphere."
News that their Olympic bid had fallen through was greeted with delight by Spurs fans' group We are N17 which had staged protests against the proposed move to a site five miles away from White Hart Lane.
"It is probably the only time in my life I have or will celebrate a victory for West Ham," said We are N17 spokesman Tim Framp.
"I actually feel a bit sorry for some of the West Ham fans that are going to be sat in that stadium because I don't actually think either bid was particularly great.
"I don't understand why both clubs were so desperate for that stadium. I don't feel like any club has particularly won."
West Ham fans have generally been more ambivalent about the move, with the club recently highlighting a Premier League poll showing that more than 50% of Hammers supporters had positive feelings towards the proposed switch.
But Sam Haseltine, author of the West Ham Process blog, said the prospect of sharing a multi-purpose ground with athletics, cricket, concerts and other community events was a turn-off for many fans.
He told BBC Sport the news had left him with a "bittersweet" feeling.
"It would have been worse for us had Spurs got it," he said. "So I'm pleased about that, but I'm very dubious about the plans.
Woods begins charge but McIlroy maintains lead
Rory McIlroy continue to set the pace after the second round of the Dubai Desert Classic, but Tiger Woods is hot on his trail after the world number three produced his best golf of 2011.
Woods carded a blistering six-under-par 66, the best round of the day, to lie four strokes off the pace set by Northern Irishman McIlory, who lies on 11-under-par after posting a 68 to follow-on from his 65 on Sunday.
Spain's Sergio Garcia maintained his recent improvement with a second successive five-under-67 to trail McIlroy by a single stroke, alongside Thomas Aiken of South Africa who has matched Garcia's scores over the first two days.
But all the talk was of Woods' dramatic return to form and the world number three could not hide his delight with his display.
"I have played myself right back into the tournament. I felt I hit the ball a lot better and the greens were absolutely perfect," Woods told the official European Tour website.
"It was steady. I didn't make as many mistakes as yesterday and I felt it was important to post a number," he added.
However, it is McIlroy who still looks the player to beat and the 21-year-old remains on course to repeat his all-the-way victory here two years ago -- his only success on the European Tour.
McIlroy told the European Tour website: "I felt a little more at ease with my swing yesterday, but I stayed patient and picked up the birdies when I could.
"I really wanted to get to 11-under, and it's nice to come into the weekend with a little bit of a lead," he added.
Englishman Steve Webster recorded a second successive 68 and lies on his own in fourth position, three strokes behind, while Woods is among a group of five players on seven-under-par that includes Denmark's Anders Hansen.
World number one Lee Westwood produced another steady performance and his two-under-par 70 leaves him six strokes behind McIlroy, while world number two Martin Kaymer is another shot behind.
Meanwhile American D.A. Points leads the field after the opening round of the Pebble Beach National Pro-Am.
Slate of charges against Barry Bonds dropped from 11 to 5
Federal prosecutors have reduced the number of felony charges against baseball's all-time home run champion Barry Bonds from 11 to five, according to a new indictment released Thursday.
Bonds, a seven-time National League most valuable player who hit 762 home runs over his 22-year career, is now indicted on four counts of lying to a grand jury and one count of obstruction of justice. Each charge carries a maximum penalty of 10 years in prison and a $250,000 fine.
The revision marks the third time that prosecutors have filed a new slate of charges against Bonds. In November 2007, a federal grand jury in San Francisco indicted Bonds on four counts of perjury and one count of obstruction of justice. He was indicted in May 2008 on a total of 14 counts of perjury and one of obstruction of justice. A judge later dismissed several of those charges.
On the "false declaration to a grand jury" counts, prosecutors continue to allege that Bonds lied when he said he didn't knowingly take drugs given him by his former trainer, Greg Anderson; that Anderson never injected him with a drug; that Anderson never gave him human growth hormone; and that he never took anything from his trainer other than vitamins.
The other charge claims that Bonds "did corruptly influence, obstruct and impede, and endeavor to corruptly influence, obstruct and impede the due administration of justice by knowingly giving ... evasive, false and misleading" grand jury testimony.
The criminal trial of the former slugger, a 14-time all-star, has been delayed numerous times while assorted legal issues are being worked out.
Last June, Bonds won a big legal victory when the San Francisco-based 9th Circuit U.S. Court of Appeals, in a divided opinion, ruled the government cannot use urine samples and other evidence in its perjury case against the former San Francisco Giants star.
That ruling determined that there was no proof that positive steroid tests from 2000 and 2001 were Bonds' and that out-of-court statements from Anderson, his former trainer, are hearsay.
Robert Talbot, a professor at the University of San Francisco School of Law, said then that the ruling essentially torpedoes the prosecution's case, which was heavily dependent on evidence and information from Bonds' former trainer.
The government said it would instead bring BALCO executive James Valente to the stand to testify Anderson told him the samples indeed came from Bonds.
Bonds hit a record-setting 73 homers in the 2001 season. That same year, as well as before and after, the FBI said BALCO Laboratories recorded urine and blood tests, under the name "Barry Bonds," showing "positive" results for steroids and performance-enchancing drugs.
The government alleges BALCO helped supply Bonds with steroids and drug-masking substances. BALCO was accused of covertly marketing tetrahydrogestrinone -- known as "the Clear" -- a then-undetectable performance-enhancing steroid.
Company founder Victor Conte and associates such as Anderson allegedly supplied other top athletes with the Clear and human growth hormone, assuring the competitors they would not be caught cheating. The lab performed repeated tests on athletes, said the government, to check whether the drugs were detectable. Top professional football and track stars were caught up in the scandal, prosecutors say.
Steroid use was banned by Major League Baseball in 2003.
Shares rally as Mubarak resigns
Global markets have climbed and the price of oil fallen after Hosni Mubarak stepped down as Egypt's president.
There had been concerns that almost three weeks of anti-government protests could have spread across the region and added to market volatility.
But analysts said that Mr Mubarak's resignation had helped make Egypt's political future a little clearer, boosting investor sentiment.
Oil had been trading higher earlier in the day, but fell after the news broke.
'Jittery'
While not a major oil producer, Egypt plays a key role because it controls the Suez Canal, a major route for oil tankers and cargo ships.
Over the past three weeks, investors have been worried that unrest in Egypt could spread to nearby oil-producing nations, disrupting supplies.
US light sweet crude lost $1.12 (70p) to $85.61. In London, Brent crude fell 31 cents to $101.13. It had initially fallen further but pulled back.
However, Inenco energy analyst Zakir Lorgat said that there would continue to be volatility in the oil market.
"A power-vacuum now exists, so the oil markets will continue to be jittery until a decision is reached on what the Egyptian Government will look like going forward," said Inenco energy analyst Zakir Lorgat.
"The market will be worried about the risk of contagion within the region and whether the Egyptian example will create a domino effect . They will be looking to be reassured that the region will remain stable over the coming weeks and months."
On Wall Street, the Dow Jones iindex Dow rose 43.97 points, 0.4%, to 12,273.3, its highest close since June 2008. The Nasdaq index rose 0.7% to 2,809.4 points.
In London, the FTSE 100 shrugged off heavy losses to finish 0.7% higher at 6,062.9 points, while the key French and German markets also enjoyed late surges.
South Korea holds interest rates despite pricing fears
South Korea's central bank has left its main interest rate unchanged at 2.75%, bucking a trend that has seen borrowing costs rise across Asia as policymakers try to slow inflation.
Analysts said the bank wanted to see the impact of a surprise rate increase last month before moving again.
They now expect borrowing costs to rise in March.
Inflation has been identified as one of the main threats to economic stability in Asia.
'Not clear'
In the last month central banks have lifted rates in China, Indonesia and India.
And while South Korea's government has made fighting price growth a top priority, analysts said the central bank also needed to take into consideration the effect of higher rates on the economy.
"It is too soon to raise rates again because the effect of last month's rise is not clear yet," said Kim Il-Goo, an analyst at Daewoo Securities.
"The central bank raised interest rates 14 times over the past 12 years, but it raised rates consecutively only once."
'Micro Measures'
South Korea's inflation rate is hovering close to 4%, at the top end of the Bank of Korea's 2% to 4% target range.
However, analysts said that interest rates may have little impact on price growth as many of the inflationary pressures were imported in the form of raw material or commodity costs.
"The central bank seems to view current inflation as mostly cost-push driven on the supply side, not demand-led," said Sun Yoo, an analyst at Woori Investment & Securities.
"While the government is preparing micro measures against inflation, (the central bank) probably thought a rate rise would burden consumers more, along with heavy mortgage loans."
Mr Sun said he expected rates to climb to 3.75% by the end of the year. Other analysts said they saw rates hitting 3.5%.
Greece needs to make faster reforms, says IMF
Greece is making economic progress but needs to carry out reforms faster, the EU and International Monetary Fund (IMF) have said after approving their latest tranche of aid to the country.
In May, the organisations agreed a rescue package worth up to 110bn euros ($145bn; £91bn) over three years.
Greece will now receive the next 15bn euros of that loan after inspectors concluded their latest review.
But the tone of the inspectors' report was more critical than their last one.
In November, inspectors from the European Union, the European Central Bank (ECB) and the IMF said Greece needed to make an extra effort to reduce its deficit in 2011, but said the government had made impressive savings during a deep recession.
In the latest review, inspectors said: "While there have been delays in some areas, the underlying fiscal and broader reforms necessary to deliver the program's medium-term objectives are being put in place.
"However, major reforms still need to be designed and implemented to build a critical mass necessary to secure fiscal sustainability and economic recovery," the EU, ECB and IMF said in a joint statement
Spain's economy grew 0.2% in last quarter of 2010
The Spanish economy expanded by 0.2% in the fourth quarter, according to official estimates, boosted by exports.
For the whole of 2010 the National Statistics Institute estimated that the economy had contracted by 0.1%.
In September, the Spanish government approved an austerity budget, designed to cut public debt and regain investor confidence.
Analysts said that growth in the fourth quarter was largely down to increased demand for exported goods.
"I think growth was driven by a high contribution from both final domestic demand and exports," said Tullia Bucco, an analyst at Unicredit.
Pension reform
The Spanish government is under pressure from investors and other eurozone governments to reduce its deficit.
Eurozone governments are all aiming for deficits which do not exceed 3% of gross domestic product, in order to contain the bloc's debt problems.
To help meet its target, the Spanish government recently announced reforms to the pension system after reaching agreement with unions.
Under the agreement the compulsory pension age will increase from 65 to 67, one of the highest in Europe.
The increase will be phased in from 2013.
Public spending
The budget approved last September included an overall cut in public spending of 7.7%, including a pay cut of 5% for public sector workers.
The government has also increased personal income tax for those earning above 120,000 euros ($162,000; £102,000) a year.
This increase is expected to raise about 170bn-200bn euros.
Madrid has promised its European counterparts to cut its deficit to 6% of GDP in 2011, from 11.1% in 2009.
Kirk Franklin on New Album Release; Tour Schedule
K
irk Franklin has set trends, broken records, and reached millions through his music. Now he’s on the way to release his twelfth album, “Hello Fear” on March 22.
The project includes vocals from Isaac Carree, Anaysha Figueroa, Nikki Ross, and many more.
Singles “I Smile” and “I Am” have already made spots on top Gospel music spots.
“‘I Smile’ is a fun, urban upbeat melody I wrote,” said Franklin. “It is a declarative statement that I’m not going to live my life based on how I feel. I will live my life based on God’s Word. It is not easy and I acknowledge there are always obstacles, but like a lot of folks, I get tired of being guided by my emotions. When I have a deeper trust in God, I live my life in stability.”
“‘I Am’ is about exchanging all of my weaknesses for God’s strength,” Franklin noted. This song is also about declaring what God says about me and not my situation. As we daily transform to God’s image, we no longer identify with who we were, but who we are becoming.”
Fans can also expect to hear something from Marvin Sapp and Beverly Crawford.
“I titled this album Hello Fear because-with everything going on in the world-it is the word and the feeling, that paralyzes all of us on some level right now,” said Franklin. “In my own life, fear has been a shadow that has followed me since I was a child. But the season of running from it is over. I am turning around and speaking directly to it. This album is full of personal and painful work that invites the listener to join me on the journey of letting this familiar ‘friend’ know that his time is over.”
Kirk Franklin will also be joining Steve Harvey on their Gospel Comedy Tour beginning on March 19 in Atlanta.
Barbra Streisand to perform at Grammys
Singer Barbra Streisand is to give a rare performance at this weekend's Grammy awards, organisers have said.
The eight-time Grammy winner, 68, is nominated in the best traditional pop vocal album category for her latest record, Love is the Answer.
The awards will be handed out at a Los Angeles ceremony on Sunday.
Streisand will also be honoured this week by the Grammy's charitable foundation MusiCares for her "creative accomplishments and philanthropy".
The singer will appear on Friday at the end of a tribute that will see Tony Bennett, Stevie Wonder and others perform interpretations of Streisand hits.
Streisand rarely performs at public events unless it is for charity and has toured only four times during her five-decade career.
In an interview with the Los Angeles Times, the Oscar-winning actress confirmed she plans to star in and possibly direct a new film version of 1959 musical Gypsy.
Sir Mick Jagger, Eminem, Lady Gaga and Katy Perry are among other artists lined up to perform at this year's Grammys.
Organisers have also announced that US singers Miley Cyrus, John Legend and Kris Kristofferson will present awards at Sunday's event.
Elsewhere Christina Aguilera, Jennifer Hudson and Florence Welch are among artists who will perform a celebration of Aretha Franklin following her recent bout of ill health.
Beyonce to headline Glastonbury
Singer Beyonce Knowles will be one of the headline acts at Glastonbury this year, her record company has announced.
The US pop star will perform on the Pyramid Stage on the last day of the event in Pilton in Somerset, Columbia Records revealed in a statement.
"I'm pumped just thinking about that huge audience and soaking up their energy," the 29-year-old star said.
Organisers of the festival, which runs from 22 to 26 June, have yet to officially announce 2011's line-up.
Tickets for this year's event went on sale in October and sold out in around four hours.
"This really is the biggest festival in the world and I cannot wait to perform there," said Knowles.
"Everyone who attends is really appreciative of music and is in such a good mood that entire weekend."
Last year's line-up included Stevie Wonder, Kylie Minogue and Gorillaz, who stepped in when U2 were forced to pull out.