Tension rises in New York as court backs OWS protesters

Matthew Borghese – AHN News Contributor

New York, NY, United States (AHN) – The “Occupy Wall Street” movement won major support from a New York court Tuesday, possibly extending the life of the demonstration that has spawned similar anti-establishment protests around the world.

New York Supreme Court Judge Lucy Billings, will, on paper, allow protesters to remain camped out at the privately-owned Zuccotti Park in the Big Apple.

On Tuesday, the New York Police Department (NYPD) forcibly cleared protesters from the site. Clearing the camp was the latest in a long battle between OWS and local leaders. Protesters took to the court system to protect their right to camp out. New York City Mayor Michael Bloomberg and other city officials pressed for an end to the demonstration, saying the right to free speech did not extend to a long-term occupation of a public space.

“No right is absolute and with every right comes responsibilities,” Bloomberg said. “The First Amendment gives every New Yorker the right to speak out — but it does not give anyone the right to sleep in a park or otherwise take it over to the exclusion of others — nor does it permit anyone in our society to live outside the law. There is no ambiguity in the law here — the First Amendment protects speech -’ it does not protect the use of tents and sleeping bags to take over a public space.”

“New York City is the city where you can come and express yourself. What was happening in Zuccotti Park was not that,” Bloomberg added.

Nonetheless, only hours after their eviction, a court order proclaimed the protestors could return to Zuccotti Park. Despite the ruling, police have closed off the park under Bloomberg’s orders. The city is planning a legal appeal of Billings’ ruling, citing ongoing “health and safety concerns.”

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Italian debt reaches unsustainable level

Vittorio Hernandez – AHN News

Rome, Italy (AHN) – When Italy’s debt ballooned to over $1.5 trillion, some leaders are now asking if the country has reached a point of being beyond rescue. The offer by Italian Prime Minister Silvio Berlusconi to resign from his post had failed to slow down the financial turmoil.

Another indicator that Italy’s debt has reached unsustainable level is that the interest rate on Italian bonds hit 7 percent which is the same rate that smaller eurozone economies such as Ireland, Portugal and Greece reached and needed a rescue. At one point, the rate even reached 7.5 percent.

Because of the impact of the problematic eurozone members on the whole single currency area, instead of kicking out Greece and eventually Italy from the zone, Germany and France reportedly are scouting for ways to leave the currency.

Even non-eurozone members such as Britain are affected by the debt crisis that the United Kingdom faces a threat of a double dip recession before the end of 2011. Because of the impact of the Greek and Italian debt crisis on Britain, British Prime Minister David Cameron urged the leaders of the two nations to get on top of their countries’ debts and deficits.

Cameron also suggested putting in place the largest possible firewall, which is what the European Financial Stability Facility was supposed to be. However, lack of interest failed among the markets failed to boost the fund’s firepower.

Amid the political and financial turmoil besetting Italy, the Italian stock market lost 4 percent of its value, the FTSE 100 index closed 106.96 points down at 5460.38 and the Dow Jones closed 389 points down at 11,780.94.

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Obama’s foreign policy authority disputed in Supreme Court case

Tom Ramstack – AHN News Legal Correspondent

Washington, D.C., United States (AHN) – The Supreme Court stepped into the fray Monday over whether Jerusalem is an international city or exclusively the property of Israel. The outcome of the dispute is likely to redefine which branch of the U.S. government has final authority over some issues of foreign policy.

The lawsuit that prompted oral arguments before the Supreme Court Monday involved a passport for a boy born in 2002 to American parents in Jerusalem.

When his parents went to the U.S. Embassy in Tel Aviv to get a passport for their newborn, they asked that his country of birth be listed as Israel.

The embassy staff refused, citing State Department policy. Instead, they wrote in Jerusalem.

A month before the boy, Menachem Zivotofsky, was born, Congress had passed a law ordering the State Department to list Israel as the country of birth for all U.S. citizens born in Jerusalem.

However, the State Department is part of the executive branch of government, not Congress. Under the Constitution, the president and his administration decide foreign policy.

The Supreme Court seeks to resolve the difference of opinion.

Nathan Lewin, attorney for the Zivotofskys, told the Supreme Court Monday the case should not be defined as political. Instead, American citizens born in Jerusalem should be allowed to have the identification they prefer on their passports.

“This is not a recognition case, this is a passport case,” he said. “We live in a system in which Congress passes the laws and the president is the instrument of foreign policy.”

Equally important is how the case could affect Mideast politics.

Israel claims Jerusalem as its capital despite the fact the United Nations and many countries refuse to recognize it.

East Jerusalem consists predominantly of Muslims while West Jerusalem is populated mostly by Jews. The 6,000-year-old city is the birth place of three major religions: Judaism, Christianity and Islam.

Israel claimed the western part of the city since 1948 while Jordan says it annexed the eastern part of the city.

The Israelis took control of the entire city after the 1967 Six Day War. They base their government there, but no foreign embassies are located in Jerusalem.

Disputes over who should control Jerusalem remain a core issue in Mideast conflicts.

President Barack Obama acknowledged the tense standoff in a May 2010 speech on the Mideast peace process when he said, “Two wrenching and emotional issues remain: the future of Jerusalem, and the fate of Palestinian refugees.”

So far, the State Department has tried to walk a middle ground when granting passports to children of Americans born in Jerusalem.

Their country of birth is listed as Jerusalem, despite the fact no one claims the city as a nation.

The Zivotofskys say in their lawsuit the policy should be changed.

The State Department says in its brief before the Supreme Court that foreign affairs, such as the status of passports, are a “political question” that fall under the “exclusive power” of the presidency.

“A passport is an official instrument of foreign policy through which the United States addresses foreign nations,” the State Department’s brief says.

Congress can enact passport legislation but the Constitution reserves foreign policy issues such as “the recognition of foreign states and their territorial sovereignty” to the presidency, the State Department’s brief says.

The Zivotofskys have framed their case around one simple request to the Supreme Court. They want the Supreme Court to tell the Obama administration to enforce the law approved by Congress.

In other words, their son’s passport should say he was born in Israel, not Jerusalem.

The president has exclusive authority over a “political question” only in cases “in which Congress has failed to set standards,” the Zivotofskys’ brief says.

Congress set the standard for passports of American citizens born in Jerusalem with the law it approved a month before their son’s birth, the Zivotofskys say.

About 50,000 American citizens were born in Jerusalem.

The Zivotofskys drew support in amicus briefs from several Jewish organizations, 28 senators and 11 members of the House of Representatives.

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Greek cabinet supports Papandreou’s referendum plan, markets fall in panic

Vittorio Hernandez – AHN News

Athens, Greece (AHN) – The Greek cabinet supported on Tuesday Prime Minister George Papandreou’s plan to submit the European Union (EU) debt deal to citizens although the rescue package may place the country in a worse financial situation.

Papandreou said the referendum results will represent a clear mandate on how Greeks want the government to approach the country’s debt problem and future use of the euro currency. Papandreou promised to abide by the referendum results.

Prior to the referendum, Papandreou’s Socialist Party will submit itself to a confidence vote before the Parliament on Friday.

European leaders were surprised with Papandreou’s plan to submit the debt deal to a referendum vote. The French and German governments, which are the largest holders of Greek debts, wanted the rescue deal implemented at the soonest possible time.

News of a referendum, which would likely reject the deal because it carries another round of austerity measures, sent markets to panic and the European debt crisis back to square one after a week of intense EU leaders’ meeting in Brussels.

The FTSE closed down 2.2 percent at 5421 after it initially declined 5 percent. Both the German Dax and French Cac indices dipped 5 percent at closing time, and the Dow Jones closed down by almost 2.5 percent.

French President Nicolas Sarkozy and German Chancellor Angela Merkel will meet with EU and International Monetary Fund officials on Wednesday in Cannes. Papandreous will also meet with Merkel and Sarkozy on the sidelines of the G20 Summit in France.

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RCMP recovers $2.6 million cash tossed into sea by BC man

Vittorio Hernandez – AHN News

Vancouver, British Columbia, Canada (AHN) – The Royal Canadian Mounted Police (RCMP) have recovered $2.6 million in cash thrown by a British Columbia man from a small boat off Vancouver Island. The amount is considered one of the largest cash confiscations in the RCMP’s history.

The man tossed the cash, which was inside a suitcase, when the RCMP approached the man’s boat. Mounties later plucked the suitcase from the water.

The RCMP, which showed the money – wrapped in plastic – and disclosed the incident on Tuesday, said the incident happened on March 24 near the U.S.-Canadian border known for smuggling. The Mounties said they had to wait several months before they made public the incident because it needed to follow up on matters concerning the case.

The suspect, 44-year-old Jeffrey Melchior of Lake Cowichan, was charged with possession of property obtained by crime and money laundering. He is scheduled to appear in court in Victoria on Nov. 21.

According to the Canadian Center for Justice Statistics, the number of money-laundering crimes in the country has gone up in the past 10 years and law enforcers have difficulty in finding and arresting the money launderers.

The RCMP estimate is that between $5 billion and $15 billion is laundered in Canada yearly, mainly through the financial system. However, a Statistics Canada report said the police were able to identify money-laundering suspects only 18 percent of the time.

Only one third of the cases resulted in a guilty verdict compared to two-thirds success in ordinary crimes.

The StatsCan study said money-laundering crimes rose fivefold between 2004 and 2006 but have leveled off since then. In 2009, the RCMP recorded 525 money laundering incidents in Canada.

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Wizards among teams hit hard by latest NBA schedule cancelation

AHN Sports Staff

Washington, DC, United States (AHN Sports) – The Washington Wizards saw their first 14 games of the season scrapped after NBA commissioner David Stern cancelled two more weeks from the 2011-2012 season schedules due to the extended labor lockout.

The Wizards took a huge blow in the latest labor dispute development, losing nine more games in their schedule after the NBA eliminated another two weeks from the 2011-2012 regular-season.

The Wizards, who have now lost a total of 14 games, will miss out six road games, including a four-game West Coast trip, and three home games.

Wizards players will be losing around $7.42 million worth of paychecks, while all NBA players are going to lose an estimated $400 million due to the cancellation of the first month of the season.

“I’m just reflecting the calendar,” Stern told the Washington Post Saturday. “I mean, there’s just — you need 30 days to play, and so the last two weeks of November are gone. It’s already getting to be November 1. The calendar takes care of our games. These are not punitive announcements, these are calendar-generated announcements.”

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New fed rules to aid more underwater homeowners

Diane Alter – AHN News Reporter

Washington, DC, United States (AHN) – Monday morning the Federal Housing Finance Agency announced new rules that will allow many more “underwater” homeowners, those who owe more than their properties are worth, to refinance at current historical low mortgage rates.

Up to a million borrowers are expected to take advantage of the new program, the FHFA estimates. Originally rolled out in early 2009, the program has fallen far short of the number of people it was expected to help.

Prior to the new rules, only borrowers who owed more than 25 percent more than their homes are worth could participate in the program. The new rules have no cap on how much a borrower owes.

Only mortgages backed by Fannie Mae and Freddie Mac will be eligible under the new rules.

Officials hope the new rules will help the ailing housing market and the flailing economy. By reducing monthly payments, more homeowners will hopefully avoid foreclosure and have more cash to spend, giving a much-needed boost to the depressed economy.

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Heir to Saudi throne dies

Diane Alter – AHN News Reporter

NY, NYC, United States (AHN) – Crown Prince Sultan bin Abdel Aziz, heir to the Saudi throne, died Saturday in New York City at the age of 85.

The Sultan died in a hospital in New York City. His burial is expected to take place Tuesday in Riyadh.

The death of the crown prince, the half brother of the ailing Saudi King Abdullah, leaves many questions open about succession. Unlike in European monarchies, the line of succession does not move directly from father to eldest son. It has moved down a line of brothers born to the kingdom’s founder Ibn Saud, who died in 1953.

Sultan bin Abdel Azia was the deputy prime minister of the oil-rich country. He had been defense minister and minister of aviation for about four decades. He also oversaw a defensive spending spree which made the kingdom one of the biggest arm’s buyers in the world.

The palace issued the following statement early Saturday, “With grief, King Abullah bin Abdel Aziz mourns the death of Sultan bin Abdel Aziz Al Saud, crown prince and brother.”

Secretary of State Hilary Clinton said the crown prince was “a strong leader and a good friend to the United States over many years, as well as a tireless champion for his country.”

According to a leaked U.S. diplomatic cable from January 2010, Sultan had been receiving treatment for colon cancer since 2009.

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Oil, Copper Futures Rise on G20 Talks

Jupiter Kalambakal – AHN News Reporter

London, United Kingdom (AHN) – Oil and copper futures posted gains on Monday amid wrap-up talks among G20 finance chiefs where parts of a plan to contain the eurozone’s debt crisis and prevent a possible Greek default were approved over the weekend.

Copper metal for delivery rose 1 percent to $7,619.50 a metric ton on the London Metal Exchange, the biggest increase since Sept. 27.

Copper for December delivery on the Shanghai Futures Exchange advanced 0.7 per cent to $8,846 a ton.

On one end, oil futures jumped by as much as 1.1 percent, maintaining advances from the biggest close in almost a month. Monday’s figures improved oil’s 4.6 percent growth last week.

Crude for November delivery edged up as much as 91 cents to $87.71 a barrel in electronic trading on the New York Mercantile Exchange. It progressed at $86.80 on Oct. 14, the biggest close since Sept. 20. Prices were down 4.3 per cent this year.

Meanwhile, Brent oil for December grew 45 cents, or 0.4 per cent, to $112.68 a barrel on the London-based ICE Futures Europe exchange.

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More than 12 cyclones predicted for Australia this season

Jupiter Kalambakal – AHN News Reporter

Sydney, Australia (AHN) – Australia’s northern regions may be assaulted by more than 12 cyclones in the coming months due to La Nina weather conditions, according to the country’s weather service.

The Bureau of Meteorology (BOM) said it is likely another, less powerful, La Nina will progress in 2011-12 that could trigger damaging cyclones and floods.

In its tropical cyclone seasonal outlook released Monday, the BOM urged communities from Exmouth to Broome to start arranging early disaster response action plans in anticipation of the weather disturbance, which could result to possible losses in lives, property and infrastructure and possible inaccessibility from adjacent communities and states.

BOM said the oil, gas, coal and iron ore mining industries also face possible impacts by a returning La Niña. This could cause global prices to fluctuate. The miners have a 65 percent possibility of facing more than seven cyclones, the BOM said, as it forecast the miners will face more than the average of three to four cyclones this season.

Australia’s cyclone season is between November and April.

Heavy flooding last year crippled the coal mining industry in northeast Australia, including removing from the national coffers A$1.75 billion of potential revenue across 2010-11 and 2011-12.

The scenario of a possible supply disruption could cause a surge in coking coal prices.

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