Explosion shakes central Prague, as many as 40 injured

PRAGUE (Reuters) - An explosion in central Prague on Monday, probably caused by gas, injured as many as 40 people, officials said, and neighboring buildings - including the National Theatre - had to be evacuated.

The explosion, in a building facing the Vltava river just a few dozen meters (yards) from the 19th-century theatre, was heard as far away as Prague Castle about a mile away.

A police spokesman said the blast was probably caused by gas and that there had been about 15 people in the building, which included an office of the International Air Transport Association (IATA) and an art gallery.

"We estimate up to 40 people were injured," Zdenek Schwarz, the chief of Prague paramedics, said on Czech Television.

"These are mostly light injuries, cuts, bruises, injuries from glass. We estimate no more than four seriously injured, but this is preliminary information," he said.

An emergency services spokeswoman said some people may have been trapped in the building, which belongs to the Czech Air Navigation Services company.

A Reuters witness at the site saw about a dozen people being treated by emergency services.

"I was sitting quietly in my flat, making coffee. Then there was an incredible explosion. I thought the building would collapse. I looked out the window, and there was only dust everywhere," Venceslava Sehnotkova, a pensioner living in a nearby house, told Reuters television.

The blast blew out some of the windows in neighboring buildings, including Prague's landmark Cafe Slavia. The building where blast occurred also includes the Prague FAMU film school and the social sciences faculty of the Charles University.

A fire department spokeswoman said there were no reports of fatalities.

Several streets around the site were cordoned off by police.

On Sunday, part of a five-storey residential building collapsed - possibly because of a gas explosion - in the northeastern French city of Reims, killing three people and injuring 14, officials said.

(Reporting by Michael Winfrey, David Cerny, Jiri Skacel and Robert Mueller; Editing by Louise Ireland)

Source: http://news.yahoo.com/explosion-shakes-central-prague-injured-trapped-091125948.html

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Kershaw?retires 18 straight, Dodgers blank Brewers

By JOE RESNICK

Associated Press

Associated Press Sports

updated 7:31 p.m. ET April 28, 2013

LOS ANGELES (AP) - Clayton Kershaw made a nifty return to form.

Kershaw retired 18 consecutive batters and struck out 12 in eight dominant innings as the Los Angeles Dodgers, boosted by Carl Crawford's two home runs, beat the Milwaukee Brewers 2-0 Sunday.

The 2011 NL Cy Young winner began the season with a shutout over San Francisco, and soon extended his scoreless streak to 16 innings.

Kershaw (3-2) failed to get through the sixth inning in each of his last two starts.

"It was good to see Kershaw back to his old self," Crawford said. "He struggled his last two outings, so to get him back on track is a plus for us."

Kershaw left the clubhouse before reporters were allowed in after the game to tend to a personal matter.

"He's a great pitcher," said Ramon Hernandez, joined the Dodgers this season and hadn't caught the All-Star in a game. "Kershaw locates every pitch. He has an idea what he wants to do. He's very smart. He always has a plan what he wants to do with every hitter he's facing."

Kershaw scattered four hits and didn't walk a batter while lowering his ERA to 1.73. The left-hander, who led the NL in ERA in each of the previous two seasons, hasn't allowed more than three earned runs in any of his last 18 starts - the longest active streak in the majors. The last time he did was July 24, 2012, when he gave up eight at St. Louis.

"We ran into some good pitching," Brewers manager Ron Roenicke said, shaking his head. "This guy today, I wouldn't want any part of him. When he's on, you're going to struggle to score. When he's commanding the fastball inside, you're in big trouble because there's not much you can do with the pitch. And he knows when to throw the offspeed stuff away, so you can't cover all of the plate."

Kershaw stranded runners in scoring position in each of the first two innings, retiring Jonathan Lucroy on a double-play grounder in the first and striking out Martin Maldonado to end the second.

Kershaw gave up a leadoff double in the eighth to Carlos Gomez. The speedy runner tried to advance on Maldonado's broken-bat comebacker to Kershaw and was tagged out by third baseman Juan Uribe in a rundown.

"That was an unbelievable play he made," Uribe said. "This guy, he can pitch, he can hit and he can make a good play, too. He's a player. He's unbelievable. You want to make plays for pitchers like that. Guys like that hustle the game along and they want to win the game. I'm happy for him that he won today."

Brandon League pitched a perfect ninth inning for his eighth save in nine chances.

Crawford homered on the first pitch of the game from Kyle Lohse (1-2). It was the fourth time Lohse had given up a home run to his first batter in 336 career starts, and the first one that came on his very first pitch.

"The past week, guys have been getting ahead of me with the first pitch right down the middle. So I just picked today to be aggressive with the first pitch," Crawford said. "This is a tough ballpark to hit home runs in, but they say the ball flies better here in the daytime. So I caught a break today."

Crawford's second homer came on an 0-2 count in the fifth inning and landed in the right field pavilion. It was his sixth multihomer game in the majors and first since July 8, 2010, for Tampa Bay.

"They've pretty much given me the freedom to be myself and not try to be the traditional leadoff hitter who just takes a bunch of pitches and try to slap the ball," Crawford said. "I like to try to put a good swing on the ball and not just hit the ball to the shortstop and run. I mean, there's times for that, but for the most part, I'm trying to hit the ball in the gap somewhere."

NOTES: Lohse reached the 2,000-inning mark for his 13-year career when he retired Kershaw on a grounder to end the second. ... Dodgers LHP Ted Lilly makes his second start on Monday night in the opener of a three-game series with Colorado. He is 4-0 with a 2.15 ERA in four career starts against the Rockies at Dodger Stadium. ... Brewers RHP Yovani Gallardo will pitch the opener of a three-game set against Pittsburgh on Monday at Miller Park. He is 6-0 with a 2.18 ERA in his last seven starts overall against the Pirates.

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PHOENIX (AP) - Gerardo Parra tripled and scored twice, and Josh Wilson had a run-scoring double to help lead the Arizona Diamondbacks to a 4-2 win over the Colorado Rockies on Sunday.

Source: http://nbcsports.msnbc.com/id/51695804/ns/sports-baseball/

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Chief of Zuckerberg's Political Lobby Highlights Immigration Reform At Disrupt NY

The head of Mark Zuckerberg’s enigmatic political lobby took the stage of TechCrunch’s Disrupt New York conference. “It’s?incumbent?on us to make the knowledge economy as inclusive as possible,” said FWD.us head Joe Green. FWD.us joins a crowded landscape of politically aggressive trade associations pressing Silicon Valley’s agenda on Capitol Hill. Since the organization’s launch with a rare op-ed from Zuckerberg, there have been few details about FWD.us’s agenda, though that hasn’t stopped it from gathering an exhaustive list of technology’s most influential executives, including the recent additions of Bill Gates and Sean Parker. FWD.us’s stated mission is to better prepare America for the knowledge economy, taking up the cause of high-skilled immigration as a first step. ” In a knowledge economy, the most important resources are the talented people we educate and attract to our country,” wrote Zuckerberg. To that end, Green took the stage with Vice President of Engineering at Dropbox, Aditya Agarwal, who shared a heartstring-tugging personal story about the madness of America’s current immigration system. “We learned something really, really simple: do not start a company in this country if you do not have a green card,” Agarwal said. The sentiment is unfortunate, since immigrants have founded many of Silicon Valley’s most iconic companies, from Google to PayPal. Immigration reform is priority number one for the new congress, and is currently snaking its way through the bureaucratic process. A draft of comprehensive reforms hit the senate earlier this month, which promises to give the technology industry most of what it wants, including more visas for science graduates and a special visa for startup founders. After congress returns from recess, it’ll be taken up again and according to our sources on the Hill, will likely be ratified sometime in the summer, if it passes at all. There are still far more questions than answers about this new (potentially powerful) political interest group. Immigration will be their first test, and we’ll be watching. See their presentation below:

Source: http://feedproxy.google.com/~r/Techcrunch/~3/kTh-0I7SUKs/

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Gunmen surround Libyan foreign ministry to push demands

By Ghaith Shennib and Jessica Donati

TRIPOLI (Reuters) - Gunmen surrounded Libya's Foreign Ministry on Sunday, calling for a ban on officials who worked for deposed dictator Muammar Gaddafi holding senior positions in the new administration.

Just days after the French embassy in Tripoli was bombed, the armed protest raised fresh security fears in the capital and the German embassy suspended some of its activities.

At least 20 pick-up trucks loaded with anti-aircraft guns blocked the roads while men armed with AK-47 and sniper rifles directed the traffic away from the Foreign Ministry, witnesses said.

Armed groups also tried unsuccessfully to storm the Ministry of Interior and the state news agency, according to the prime minister who called a news conference to address the problem.

"These attacks will never get us down and we will not surrender," Ali Zaidan told reporters.

"Those who think the government is frustrated are wrong. We are very strong and determined."

Since Gaddafi was toppled by Western-backed rebels in 2011, Libya has been awash with weapons and roving armed bands that are increasingly targeting state institutions.

Tensions between the government and armed militias have been rising in recent weeks since a campaign was launched to dislodge the groups from their strongholds in the capital.

Sunday's protest was to demand a law - which has already been proposed - be passed, banning Gaddafi-era officials from senior government positions. The law could force out several ministers as well as the congress leader, depending on the wording adopted.

"The Ministry of Foreign Affairs will remain closed until the political isolation law is implemented," the commander of the militia told Reuters.

The foreign ministry had been targeted because some officials employed there had worked for Gaddafi, he said.

Libya's legislature, the General National Congress, has previously been prevented from voting on the bill, when protesters barricaded assembly members inside a building for several hours in March demanding they adopt the law.

"The country will remain in crisis so long as these people are present," assembly member Tawfiq Al-Shehabi told Reuters.

The German embassy reduced its activities, a spokesman said, after the prime minister's assertion it had stopped work at its Tripoli mission.

"The German embassy continues to operate but public access is temporarily restricted," the spokesman said, declining to say how long the measures would remain in place.

(Editing by Robin Pomeroy)

Source: http://news.yahoo.com/gunmen-surround-libyan-foreign-ministry-push-demands-100133466.html

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Fertilizers provide mixed benefits to soil in 50-year study

Apr. 29, 2013 ? Fertilizing with inorganic nitrogen and phosphorus definitely improves crop yields, but does it also improve the soil?

The latest study to tackle this question has yielded mixed results. While 50 years of inorganic fertilization did increase soil organic carbon stocks in a long-term experiment in western Kansas, the practice seemingly failed to enhance soil aggregate stability -- a key indicator of soil structural quality that helps dictate how water moves through soil and soil's resistance to erosion.

The results of the research, which was carried out in continuous corn that was also irrigated and conventionally tilled, were somewhat surprising to lead author Humberto Blanco, a University of Nebraska-Lincoln soil physicist. The findings appear in the May-June issue of the Journal of Environmental Quality.

Fertilization typically leaves behind more crop residues in fields, he explains, which in turn can boost soil organic carbon levels. But unexpectedly in this case, "we didn't see improvement in soil aggregate stability even though soil organic carbon concentration increased," Blanco says, noting that soil particles usually bind together more strongly in aggregates as soil organic carbon concentrations rise.

He cautions, however, that more research is needed over a wider range of management and climatic conditions, particularly since studies of fertilizers' impacts on soil structural properties, such as aggregate stability, are currently few.

"Definitely the effects of inorganic fertilizer application on soil properties will depend on tillage and cropping systems," Blanco says. "So we need to look at this in other long-term experiments."

In the present study, he and co-author Alan Schlegel studied a randomized and replicated experiment that was set up in 1961 at Kansas State University's Southwest Research-Extension Center in Tribune. The experimental plots of irrigated and tilled (disk/chisel) continuous corn have received six different rates of ammonium nitrate fertilizer (range 0 to 200 pounds/acre) for 50 years. The plots also received two rates of triple superphosphate fertilizer (0 and 18 pounds/acre) for 50 years, and a higher phosphorus rate (36 lb/acre) for 19 years.

Growing corn continuously under conventional tillage and with high inputs of water and fertilizer may seem outmoded, but this management system is "not uncommon," as demand for corn grain and crop residues grow, Blanco says.

When he tested soils from the experimental plots, he saw soil organic carbon concentrations rise gradually with increases in nitrogen fertilization at soil depths from 0 to 6 inches, although not at deeper ones. Similarly, phosphorus fertilization increased soil organic carbon at depths of 0 to 3 inches and 6 to 12 inches.

But Blanco observed a different trend in soil aggregate stability, especially when nitrogen and phosphorus were applied together at high rates. At a depth of three to 12 inches, for example, adding more than 80 pounds of nitrogen per acre reduced the number of stable soil aggregates by 1.5 times when no phosphorus was applied, by 2.1 times at 18 pounds of phosphorus/acre, and by 2.5 times at 36 pounds of phosphorus/acre.

Blanco can't say for certain why this occurred, but he has some hypotheses. Some studies suggest that adding fertilizers rich in ammonium ions may cause soil particles to disperse rather than aggregate, thereby offsetting any positive effects of increased soil organic carbon content. Because tillage periodically disturbs the soil, it may also negate any benefits of fertilization.

Blanco is now testing these hypotheses in three additional long-term experiments in Nebraska that encompass a wider range of tillage practices and cropping systems. The effects of nitrogen and phosphorus fertilizers on crop yields are well-researched, of course. Likewise, reduced tillage, cover crops, intensified cropping systems, and other conservation practices are known to build the soil long-term. Blanco now wants to see the two come together.

"It's clear that we need inorganic fertilizers to meet the increasing demands for food production, so it's important to look at how the extensive use of inorganic fertilizers affects soil properties in the long term," he says. "The hypothesis is that inorganic fertilization combined with conservation tillage -- strip till, no-till, and others -- may improve soil structural properties relative to conventional tillage systems."

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Story Source:

The above story is reprinted from materials provided by American Society of Agronomy (ASA), Crop Science Society of America (CSSA), via Newswise.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Humberto Blanco-Canqui, Alan J. Schlegel. Implications of Inorganic Fertilization of Irrigated Corn on Soil Properties: Lessons Learned after 50 Years. Journal of Environment Quality, 2013; 42 (3): 861 DOI: 10.2134/jeq2012.0451

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/Za_ITo7zHiY/130429094640.htm

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Asian insurance M&A gets pricey as region's promise beckons

By Denny Thomas and Clare Baldwin

HONG KONG (Reuters) - A deal-making frenzy in Asia's insurance industry is turning up the heat on buyers to fork out huge sums or miss out on a prime chance to tap into the sector's fastest growing market, and few predict a slowdown despite the eye-popping prices.

The appeal of Asia's growing middle class and rising personal income pushed insurance takeovers in the region to a record $30.5 billion last year, according to S&P Capital IQ, a data compiler. At least $5 billion more are in the pipeline and that's good news for bankers, lawyers and shareholders such as Malaysia's AMMB Holdings Bhd , which is shedding its life insurance unit.

For buyers, soaring valuations and increased competition from foreign newcomers present a tough choice -- either pay through the nose for a scarce, fast-growing business or wait for prices to settle and potentially lose out to nimbler rivals.

There are signs that at least some potential buyers, like South Korea's Samsung Life Insurance Co , are getting spooked by higher deal valuations. Price to book value (P/B) ratios -- a key metric for valuing banks and insurers -- for Asian deals have risen on average by 13 percent between 2005 to 2012, while the same multiples across the world have shrunk.

"These deals have definitely gotten more expensive," said Manulife's Financial Corp Asia Chief Marketing Officer Philip Hampden-Smith, showing that even company executives are raising their eyebrows at how far some buyers are willing to go.

"You've got to have financial discipline -- a deal is only worth so much," he added.

Asian insurers trade at a median P/B ratio of 1.73, according to Thomson Reuters data, nearly double their peers in the United States and Europe. Some recent deals were struck at nearly twice the median P/B ratio of Asian companies.

Just 5.8 percent of Asia's population is insured, compared with 8.1 percent in the United States, and that is set to drive insurance premium sales in emerging Asia at nearly three times the growth in industrialized nations, Swiss Re says.

GET IN LINE

Some companies, like ING Groep NV , have been forced to sell assets to pay back government bail-out money, while others like Aviva Plc are retreating from the region to focus on their home markets. Some are simply cashing out, riding the boom.

When India's Punjab National Bank launched its recently completed life insurance joint venture with MetLife Inc , more than 40 companies showed up to the auction.

The sale of ING's Asia insurance and asset management units last March attracted no less than 17 suitors.

That is an extraordinary number of bidders in a region where even just two or three buyers can create a competitive auction.

Also unusual is the terms being commanded by sellers in certain deals.

Malaysia's CIMB Group Holdings Bhd boldly demanded a 1.8 billion ringgit ($591 million) floor price from the final bidders for its insurance joint venture, two people familiar with the matter told Reuters.

Not bad for a simple, old industry that even some executives say is boring.

Canadian insurer Sun Life Financial Inc and Malaysian sovereign wealth fund Khazanah Nasional Bhd paid a P/B ratio of 3.2 for Aviva-CIMB insurance venture. That is 85 percent higher than the median P/B ratio for Asian insurers now, according to Thomson Reuters data.

CIMB did not offer an immediate comment.

Insurance executives will long remember the whopping 9.3 P/B that Japan's MS&AD Insurance Group Holdings Inc paid in 2011 for a 50 percent stake in Indonesian conglomerate PT Asuransi Jiwa Sinarmas' insurance unit.

PT Bank Negara Indonesia Persero Tbk PT (BNI) Chief Executive Gatot Mudiantoro Suwondo now expects similar multiples for the bank's planned sale of a stake in its life insurance unit.

"Valuations of recent deals are definitely more reliant on the future value the target companies can generate," said Peter Enns, Goldman Sachs & Co's head of Financial Institutions Group in Asia Pacific ex-Japan. "People view these businesses as very strategic (investments) that can deliver good future growth."

TIPPING POINT?

Enns warned that a major change in interest rates and a meaningful slowdown in regional GDP growth would impact how these businesses are valued and affect their prospects.

Some suitors are turning cautious. Samsung Life and Japan's Tokio Marine Holdings Inc are among the companies shying away from the BNI auction on fears of overpaying, people familiar with the matter said.

Khazanah recently dropped from the race to buy a minority stake in unlisted Thai Life Insurance Co, a person familiar with the matter said. The auction attracted KKR & Co LP among others.

Even so, plenty of potential buyers are still willing to stomach the high valuations.

Last year Prudential Plc's $590 million deal to buy Thai Thanachart Bank PLC's insurance unit translated into a P/B multiple of 5.8 for fiscal 2012, a person with direct knowledge of the matter told Reuters.

In part, higher valuations are supported by extended bank distribution deals. In 2010, Prudential struck a 12 year distribution deal with Singapore's United Overseas Bank Ltd , while it secured a 15-year deal with Thanachart. Sun Life and Khazanah signed a 20-year deal.

James Ankers, co-head of Financial Institutions in Asia at Rothschild, expects the active insurance M&A cycle to continue in markets such as Indonesia, even as it reaches a peak in Malaysia.

"But we expect high deal valuations for quality assets to remain," he added.

(Additional reporting by Saeed Azhar in SINGAPORE, Joyce Lee in SEOUL, Taiga Uranaka in TOKYO and Yantoultra Ngui in KUALA LUMPUR; Reporting by Denny Thomas and Clare Baldwin; Editing by Michael Flaherty and Stephen Coates)

Source: http://news.yahoo.com/asian-insurance-m-gets-pricey-regions-promise-beckons-021530113.html

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Senator Paul stirs business ire over blocking of tax treaties

By Patrick Temple-West

WASHINGTON (Reuters) - Senator Rand Paul is coming under pressure from some multi-national businesses to drop his opposition to tax treaties between the United States and other nations.

Citing privacy concerns about Americans' tax data, Paul, a Republican and libertarian, has single-handedly blocked Senate action on treaties with Hungary, Switzerland and Luxembourg that have been signed by authorities on both sides, but have been awaiting Senate review since 2011.

At least six other tax treaties or treaty updates -- with Chile, Spain, Poland, Japan, Norway and Britain -- may soon be added to the Senate's queue for confirmation votes.

Major U.S. businesses such as IBM Corp and Fluor Corp are lobbying for Senate action on tax treaties, according to Senate lobbying disclosure documents.

"How many treaties will be held hostage?" asked Cathy Schultz, a lobbyist for the National Foreign Trade Council, a Washington, D.C.-based group that represents companies such as Caterpillar Inc and Pfizer Inc.

Paul has said he is concerned that recent treaties would give foreign governments too much access to U.S. citizens' tax information, a stance that has some support among like-minded conservative libertarians.

"Rand Paul is not a typical senator who may bend over to business lobbyists," said Chris Edwards, director of tax policy at The Cato Institute, a libertarian think tank.

"I am very concerned about this increasingly aggressive international exchange of information," Edwards said.

NO APPROVALS SINCE 2010

No new tax treaties or treaty updates have been approved since 2010, when Paul was elected as the junior senator from Kentucky on a wave of support for Tea Party-aligned Republicans.

Paul recently declined to answer questions from a reporter in a Capitol hallway about the "hold" he has placed on the treaties. Under Senate rules, one senator can prevent a motion from reaching a vote on the Senate floor.

Paul's staff did not reply to repeated requests for comment.

"There's never really been an objection of this sort and a hold that's gone on this long," said Nancy McLernon, president of the Organization for International Investment, which lobbies in Washington on behalf of foreign companies.

In an effort to sway the senator, McLernon said her group would be lobbying both parties to draw attention to the tax treaties. "Let's stop with the self-inflicted wounds," she said.

The United States has tax treaties with more than 60 countries, ranging from China to Kyrgyzstan.

The agreements previously have routinely won Senate approval with little controversy and accomplished their main purpose of preventing double-taxation of income and profits.

In recent years, tax treaties have begun to play an increasing role in efforts by the United States and major European Union countries to crack down on tax avoidance.

The U.S. Treasury in 2012 began signing new tax pacts with countries as part of implementation of the U.S. Foreign Account Tax Compliance Act, a 2010 anti-tax-evasion law.

The law, known as FATCA, which takes effect in January 2014, will require foreign financial institutions to disclose to the United States information about Americans' accounts worth more than $50,000.

SWISS A DRIVING FORCE

Switzerland, a long-time bastion of banking secrecy, is under international pressure to change its ways, and FATCA has been a driving force in that. The United States and Switzerland in February signed a FATCA implementation agreement that would make more information available to U.S. authorities about the financial interests of Americans in Switzerland.

But the taxpayer information exchange cannot go into force without Senate approval of the U.S.-Swiss tax treaty.

The Senate's delayed action on tax treaties could convince other countries to stop negotiating with the United States on tax matters, said John Harrington, a former Treasury tax official who is now a partner at law firm SNR Denton.

Paul, seen as a possible 2016 presidential contender, has taken a position that sets up a clash of traditional Republican interest groups: big business and libertarian ideologues.

In this sense, Paul is in the forefront of the party's search for a new identity since Republicans lost the presidential race last year, as well as numerous seats in the House of Representatives.

Looking toward a possible 2016 White House bid, Paul told reporters earlier this month that he will visit early-voting states this year and make a final decision next year.

New Republicans such as Paul are shifting the party away from its business-first agenda, said Dan Holler, communications director for Heritage Action, a conservative group.

"The party is not being reflexively pro-business," he said.

(Reporting by Patrick Temple-West; Editing by Kevin Drawbaugh and Leslie Adler)

Source: http://news.yahoo.com/senator-paul-stirs-business-ire-over-blocking-tax-165604737.html

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