Obama proposes carbon limits on new US power plants
US President Barack Obama has unveiled a proposal to limit carbon emissions on new power plants built in the US.
It would be the first federal attempt to impose limits on the pollution blamed for global warming.
"Climate change - caused by carbon pollution - is one of the most significant public health threats of our time," said Environmental Protection Agency head Gina McCarthy.
But the proposal is opposed by the coal industry and congressional Republicans.
According to the plan outlined by Ms McCarthy, new gas-fired power plants would be limited to 1,000lb (450kg) of carbon dioxide emissions per megawatt hour. New coal-powered plans would be limited to 1,100lb.
Currently, the average coal plant emits about 1,800lb of carbon dioxide per hour.
The proposal would eventually affect existing power plants, which account for around a third of all US greenhouse gas emissions.
To meet the standard, coal plants would need to install new carbon capture technology, which the industry has said is currently too expensive.
Mr Obama has previously said he wants to end what he has called "the limitless dumping of carbon pollution" from US power plants.
In his second inaugural address in January, he promised a renewed focus on climate change - a signature of his first election campaign that was essentially ignored during his first term as president in favour of healthcare reform.
"We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations," said Mr Obama in his January speech.
He said that while "some may still deny the overwhelming judgment of science... none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms".
Although the plan unveiled on Friday has been in the works since April 2012, it faces steep opposition from both industry groups and congressional Republicans, who say efforts to force plants to install expensive carbon cleaning technology could hurt job creation.
Currently, coal-powered plants account for around 40% of US electricity consumption, a share which has been shrinking recently.
The plan will be subject to a 60-day comment period, and officials hope to implement it by the fall of 2014.
JP Morgan makes $920m London Whale payout to regulators
US bank JP Morgan Chase has agreed to pay four regulators $920m (£572m) relating to a $6.2bn loss incurred as a result of the "London Whale" trades.
The settlement is the third biggest banking fine by US regulators, and the second largest by UK regulators.
As part of the deal JP Morgan admitted violating US federal securities laws.
Traders at JP Morgan's London office built up huge losses in derivatives trades at the beginning of last year.
Two former JP Morgan traders face criminal charges in the US relating to the case.
They deny charges of lying about the size of their trades in order to hide their mounting losses.
In a statement, the SEC said there had been failings in JP Morgan's internal controls and in senior management.
The regulator said the bank - whose chief executive Jamie Dimon once described the trading problems as a "tempest in a teacup" - had admitted the facts underlying the SEC's charges.
"JP Morgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses," said George Canellos, co-director of the SEC's division of enforcement.
The Wall Street firm, one of the biggest investment banks in the world, is paying $300m to the US Office of the Comptroller of the Currency (OCC), and $200m will go to both the Securities and Exchange Commission (SEC) and the US Federal Reserve.
A further £138m will be paid to the UK's Financial Conduct Authority as part of the global settlement.
It said JP Morgan's conduct "demonstrated flaws permeating all levels of the firm: from portfolio level right up to senior management".
Tracey McDermott, the FCA's director of enforcement and financial crime, said the failings had undermined trust and confidence in the UK's financial markets.
"This is yet another example of a firm failing to get a proper grip on the risks its business poses to the market," she said.
"Senior management failed to respond properly to warning signals that there were problems.
"As things began to go wrong, the firm didn't wake up quickly enough to the size and the scale of the problems. What is worse, they compounded this by failing to be open and co-operative with us as their regulator."
The London Whale was the name given to then-JP Morgan derivatives trader Bruno Iksil, who is believed to have racked up the losses and is now co-operating with authorities in criminal cases against other traders.
The bank's chief investment officer, Ina Drew, stepped down following the revelation of the losses in 2012.
Mr Dimon, whose "tempest in a teacup" comment in April 2012 prompted criticism he was underplaying the affair, said in a statement on Thursday the bank "accepted responsibility and acknowledged our mistakes from the start".
"We have learned from [our mistakes] and worked to fix them. We will continue to strive towards being considered the best bank - across all measures - not only by our shareholders and customers, but also by our regulators," he said.
"Since these losses occurred, we have made numerous changes that have made us a stronger, smarter, better company."
Separately, JP Morgan was fined $309m by the newly-created US Consumer Financial Protection Bureau (CFPB) for illegal credit card practices.
According to the CFPB, between October 2005 and January 2012, JP Morgan Chase customers were charged monthly fees ranging from $7.99 to $11.99 for "identity theft protection" and "fraud monitoring" services which were never actually performed.
Some customers exceeded their account limits due to these fees, and thus were fined double.
Approximately 2.1 million customers of the bank are expected to get refunds.
"At the core of our mission is a duty to identify and root out unfair, deceptive, and abusive practices in financial markets that harm consumers," said newly-installed CFPB director Richard Cordray in a statement.
"This order takes action against such practices."
Deadline to legalize foreign workers looms; hoteliers complain of red tape
The Hotels and Tourism Association (Asonahores) on Thursday complained that laborers, severance pay, the legal status of seasonal workers and immigration difficulties faced by its mid level and senior executives are its main challenges, a statement made the same day the Immigration Agency announced that October 19 is the end of "a long period of flexibility" regarding undocumented immigrants.
Asonahores Legal adviser Alba Russo also noted difficulties with work contracts, out of court settlements in labor cases, migration and security risks, among others, in the seminar "Tourism Sector Labor Practices," held in its annual commercial exhibit.
In the case of temporary workers Russo said the authorities demand that the hotels pay them the minimum wage, even when they perform only occasional tasks.
Immigration Agency warning
The Immigration Agency yesterday warned the sectors which hire foreigners that starting October 19 and after "maintaining a long period of flexibility," it will inspect workplaces to verify employees’ immigration status.
In a statement, Immigration warned it will proceed against any individuals or companies which violate the law on hiring foreigners illegally, with penalties as high as 30 minimum wages (RD$300,000).
US lawmakers vote to cut food stamp benefits from 2014
US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition by lobby groups.
The Republican-led House of Representatives passed the bill by 217-200. But it has little chance in the Democratic-held Senate.
The bill would save $39bn (£24bn) over a decade, but affect four million people on the programme.
It comes a day after census data showed 15% of Americans live in poverty.
An estimated one in seven Americans - most of them children, elderly or disabled - receive food stamps.
The bill aims to cut $4bn a year, representing about 5% of the current programme.
The budget savings would be achieved by allowing states to use work requirements for recipients and test applicants for drugs. It would also end waivers to allow able-bodied adults without dependents to receive food stamps indefinitely.
According to the Supplemental Nutrition Assistance Program (Snap), the food programme bill has tripled since 2004 and cost about $78bn last year.
On Wednesday, the White House threatened to veto the legislation, claiming the "cuts would affect a broad array of Americans who are struggling to make ends meet, including working families with children, senior citizens, veterans, and adults who are still looking for work".
The Congressional Budget Office says that if the bill were enacted, up to 3.8 million people could lose their benefits next year.
But House Majority Leader Eric Cantor, who led the legislative push, said it was "wrong for working, middle-class people to pay" for abuse of the programme.
Every Democrat voting on Thursday opposed the bill. Fifteen Republicans voted against the measure.
House Minority Leader Nancy Pelosi called it a "full assault on the health and economic security of millions of families".
Another Democratic congressman, Texas Representative Lloyd Doggett, called it the "let them starve" bill.
The measure is likely to go nowhere in the Senate - Democratic Senator Debbie Stabenow labelled it "a monumental waste of time".
A bill passed in the Senate in June cut food stamps by $400m a year, one tenth of the House cuts.
The two chambers will have to negotiate the differences between the plans before any cuts come into effect.
US House Passes Budget Bill That Defunds Health Care Law
The U.S. House of Representatives has passed a temporary funding measure that would keep the government operating, but defunds President Barack Obama's signature health care law.
The Republican-controlled House passed the measure Friday by a vote of 230-189, largely along party lines.
The resolution will now go to the Democratically-controlled Senate where it is unlikely to pass, setting the stage for a potential partial government shutdown if a budget agreement is not reached by the end of the month.
Republican House members are strongly opposed to President Obama's health care law and have voted to repeal it 42 times.
House Speaker John Boehner argues that a majority of Americans are against the Affordable Care Act, which Republicans refer to as 'Obamacare.'
"Our message to the United States Senate is real simple: The American people don't want the government shut down, and they don't want Obamacare.''
The latest public opinion survey shows that 42 percent of Americans approve of the Affordable Care Act, while 52 percent oppose it.
President Obama sharply criticized the Republican-led House Friday, saying, "You do not have to threaten to blow the whole thing up just because you do not get your way."
The debate over a funding bill is likely to be followed by another political battle over raising the debt ceiling, expected around mid-October.
Vice President Biden Visits Mexico for Trade Talks
U.S. Vice President Joe Biden is urging the United States and Mexico to develop a stronger economic partnership, saying it is the most important part of the relationship between the two countries.
Biden told Mexican President Enrique Peña Nieto on Friday there should be a greater flow across the border of "people, goods and information."
Biden traveled Friday to Mexico City to launch the High-Level Economic Dialogue established between the two nations during President Barack Obama's visit to Mexico in May.
"Mr. President, you and I have continued our conversation on security," said Biden. "We also agreed that no part of a relationship is more important than expanding economic opportunity, to improve the lives of our citizens. That's why I came to Mexico today to launch the first ever U.S.-Mexican High Level Economic Dialogue.''
Peña Nieto said the economic initiative is a joint commitment by both countries to bring greater prosperity to North America. "Vice President Biden's visit to Mexico reaffirms this shared vision by both governments. The interest that both governments insist through our relations that the North American region be stronger, more solid, more consolidated, and that it really is pivotal for the global development in the 21st century.''
Two-way trade between the United States and its southern neighbor is now up to nearly $500 billion a year, making Mexico the U.S.'s third largest trading partner.
The vice president's talks with the Mexican president were expected to address other common interests as well, including cooperation on education, research and security. But both Mexican and U.S. officials indicated Mexico's concerns about U.S. cyber-spying would not be part of the agenda.
Officials from Mexico, Brazil and other Latin American nations expressed anger after documents leaked by former intelligence contractor Edward Snowden revealed the U.S. National Security Agency had been spying on communications in their countries.
The Mexican president discussed the NSA disclosures issue with Obama at the G20 summit in Russia earlier this month, and Obama administration officials say it is something the U.S. and Mexico are continuing to work through.
In addition to visiting Mexico, Biden had planned to travel to Panama earlier this week, but that trip was postponed so he could stay in Washington to work on Syria.
Death Toll in Nigerian Militant Attack Rises to 143
Nigerian officials say the death toll from an attack by Islamist militants earlier this week has risen to 143.
An official with the Environmental Protection Agency says authorities have been collecting corpses since the attack took place Tuesday in northeastern Borno state.
Militants believed to be from the group Boko Haram burned scores of homes and buildings in and around the town of Benisheik. Residents say the militants also pulled people from their cars to kill them.
Local witnesses told VOA that the Boko Haram fighters were better armed than soldiers who tried to fight them, and that the militants looted the town, taking away food and numerous vehicles.
In a separate incident on Friday, Nigerian officials say nine suspected members of Boko Haram were killed in a gunbattle with security agents in the capital, Abuja.
The state security force says several other people were wounded in the early morning clash, which happened in at an unfinished home in a community for Nigerian lawmakers.
Spokeswoman Marilyn Ogar says two captured Boko Haram members had told agents about a buried stash of weapons at the site.
"And so a joint security team had to proceed to recover the arms. So when they got here, they came under attack, and of course they had to respond back."
Ogar told reporters that 12 Boko Haram suspects were arrested.
Two self-professed Boko Haram members were brought in front of reporters and admitted to belonging to the group.
Residents of the community told VOA they doubted the young men were Boko Haram members, saying they were paying rent to stay in the house.
Boko Haram says it is fighting to impose a strict form of Islamic law on Nigeria's Muslim-majority north. The militants have been blamed for thousands of deaths since launching an insurgency against the government in 2009.
Borno is one of three northeastern states where President Goodluck Jonathan declared a state of emergency and deployed additional troops in May to fight Boko Haram. Rights groups have criticized the military for heavy-handed operations they say have led to hundreds more deaths.
Source-VOA
Nearly 100 Dead After Mexico Storms
Mexican rescue workers continued the grim search Friday for people missing after strong storms triggered mudslides that engulfed parts of several towns and villages on both coasts.
People are searching the wreckage in La Pintada, west of the resort city of Acapulco, for 68 people missing since a landslide cascaded down a hill Wednesday, burying homes and schools in its path. The mayor of the local municipality told reporters at least 15 bodies have been pulled from the rubble.
Nearly 100 people have died in Mexico from the flooding and landslides triggered by Hurricane Ingrid on the Gulf Coast and Tropical Storm Manuel on the Pacific coast.
Authorities on Friday partially reopened landslide-damaged roads out of Acapulco, giving thousands of tourists stranded in the flooded resort city a new way out of the devastation.
The Mexican army and commercial airlines had managed to evacuate more than 5,000 of the 40,000 tourists left stranded in Acapulco before some of the streets reopened.
U.N. Secretary-General Ban Ki-moon extended condolences to the Mexican people and said the United Nations stands ready to help efforts to respond to humanitarian needs resulting from the disaster.
Pollution Rules Proposed for New US Power Plants
The U.S. Environmental Protection Agency on Friday proposed new rules to cut carbon pollution from new coal-fired power plants. EPA administrator Gina McCarthy said the new standards "can slow the effects of climate change and fulfill our obligation to ensure a safe and healthy environment for our children."
Power plants are the largest source of carbon emissions in the United States, accounting for one-third of the nation's greenhouse gas emissions. The new plants will be required to limit carbon pollution and phase in new, cleaner technology.
Battle lines are being drawn.
Opponents like the Competitive Enterprise Institute in Washington say the new standards could lead to the end of coal-fired power plants and higher electricity prices. Supporters like the Energy Study Institute say the new rule would "stimulate a more technologically innovative, resilient and competitive move to a cleaner energy economy."
The rules will be finalized after a 60-day comment period. Another measure that would require cuts in climate-changing emissions from existing plants is expected to be introduced next year.
US granted Venezuela permission to enter airspace
The United States said Friday it granted access to its airspace so Venezuela's president can fly to China, denying claims by Caracas that permission was denied.
On Thursday, Venezuelan President Nicolas Maduro bristled with outrage at the "serious offence" of denying his plane rights to US airspace for the weekend voyage.
The leftist leader — successor to the late anti-US firebrand Hugo Chavez — also accused the US of refusing visas to some of the members of his delegation to the UN General Assembly opening next week in New York.
But the United States said it had in fact granted fly-over rights, and denied that visas had been withheld from the Venezuelan delegation.
"The US has granted permission to Venezuelan authorities to enter US airspace," deputy State Department spokeswoman Marie Harf said in an email.
"I can tell you that no visas have been denied for the Venezuelan delegation to this year's UN General Assembly," she added later.
Harf said that although the air space request was not submitted properly, US authorities worked with the Venezuelan embassy to resolve the issue.
"US authorities made an extraordinary effort to work with relevant authorities to grant over-flight approval in a matter of hours," Harf said.
"As a result we were able to notify the Venezuelan authorities last night that permission was granted."
Harf said the request for diplomatic clearance for the aircraft – which she said was not a state aircraft as required for such clearance – to enter the airspace with just a day's notice.
"Diplomatic flight clearances are required to be made with three days advance notice," she said.
"We advised Venezuela on the correct way to get the clearance and notified their authorities last night that permission was granted," she said.
Source-JA.Observer