Friday, 25 April 2014

Moody's drops Cedar Rapids' bond rating a notch


Moody's Investors Service has dropped Cedar Rapids' top bond rating a notch, down to Aa1 from Aaa.


The Des Moines Register says (http://dmreg.co/1jqAy0G ) the city drop has been expected since Moody's announced in January that it had changed its methodology for rating cities.


Other Iowa cities' ratings also have dropped, including Ames, Dubuque and Sioux City.


The new rating system places greater weight on a city's debt and pension obligations and less weight on the local economy and tax base.


Cedar Rapids officials say the one-step downgrade in Moody's 10-step rating system still leaves the city's bond rating in a high-quality category.



BC-Noon Oil


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Cliven Bundy, #myNYPD: Public Relations Fails?



Audio for this story from Tell Me More will be available at approximately 3:00 p.m. ET.





Both rancher Cliven Bundy and the New York Police Department had a rough week in the spotlight. The Barbershop guys weigh in on the risks of talking or tweeting too much.



'Blood Victory' In Medical Research Dispute



Audio for this story from Tell Me More will be available at approximately 3:00 p.m. ET.





The Havasupai Native American tribe celebrated Blood Victory Day this week. That's the anniversary of their legal victory over researchers who misused members' blood samples without proper consent.



Is Anti-Semitism In Ukraine A Real Threat?



Audio for this story from Tell Me More will be available at approximately 3:00 p.m. ET.





Tensions remain high in Ukraine, and there are also concerns that anti-Semitism is taking root during the political crisis. Richard Brodsky of Demos discusses the issue.



What's Next For Divided Supreme Court?



Audio for this story from Tell Me More will be available at approximately 3:00 p.m. ET.





The Supreme Court handed down major decisions on some controversial cases this week. David Savage of the Los Angeles Times and Amy Howe of SCOTUSblog discuss the rulings and what's next.



Iran cuts portion of gasoline subsidies


Iran cut a portion of fuel subsidies Friday, nearly doubling some prices at the pump as part of a second round of cuts delayed since 2012.


The dramatic measure, which went into effect at midnight, will test public support for moderate President Hassan Rouhani in a nation battered by inflation and economic sanctions imposed over Iran's contested nuclear program.


Subsidies have kept the cost of gasoline artificially low for consumers in OPEC-member Iran, and were blamed for making petrol cheaper than bottled mineral water. The slash aims to release government money for production and infrastructural projects in order to improve efficiency and bolster the economy.


Under the new pricing scheme, each car on the road would see its monthly, 60-liter (15.85-gallon) reduced-cost allowance jump to 7,000 rials (22 cents) per liter from 4,000 rials (12 cents).


That works out to about 83 cents a gallon under the new pricing structure, compared to 45 cents under the former. Every liter after that will cost 10,000 rials (31 cents), up from 7,000 rials. That's a rise of $1.17 a gallon from 83 cents a gallon. Taxi drivers have a higher monthly ration of 500 liters (132.09 gallons).


But unlike the 2007 rioting at gas stations, when fuel rationing was imposed for the first time, no violence or protests were reported by midday Friday, though police were put on alert.


The measure had been expected for weeks, yet many Iranians rushed to gas stations in the countdown to midnight to fill up their tanks.


"We have made preparations in the past two months to implement the second phase of smart subsidies plan," Interior Minister Abdolreza Rahmani Fazli told the official IRNA news agency Thursday.


On Friday, the reaction on the streets was mostly muted, and several Tehran residents seemed resigned to the measure.


Taxi driver Ali Mahmoudi, 42, said the government should cut subsidies for private cars, not taxis. "As taxi drivers, we give services to the people, we should get fuel at subsidized prices," he said. "The government should cut subsidies for private cars, not taxis. We rarely can make ends meet."


Abbas Hosseinpour, a trader, said Iranians need to change the way they consume fuel.


"Many of the young drive cars for pleasure, others drive without anyone else in the car, and many don't want to use the public transport system. This needs to change," he said.


Iranians consume some 70 million liters (18.49 million gallons) of gasoline per day, a tenth of which is estimated to come from imports because of Iran's lack of refining capacity.


Under Rouhani's predecessor, Mahmoud Ahmadinejad, the government first began cutting energy and food subsidies in 2010 to help the ailing economy as it faced increased international pressures over the nuclear program.


The second phase, which involved further gasoline subsidy cuts, was initially to take effect in March 2012 but was pushed back over fears of stoking uncontrolled inflation.


Rouhani was elected last June on a pledge to revive the economy, stabilize the national currency and halt inflation.


To compensate price hikes and avoid public protests, authorities have been paying monthly cash handouts. Rouhani's government invited the poorest Iranians to register whether they need to receive a 455,000 rials ($14) cash assistance per person a month. However, only about 2.5 million Iranians — out of the 77 million-strong population — voluntarily said they don't need it.



Fitch upgrades Spain's credit rating


The Fitch ratings agency has upgraded Spain's credit grade, citing an improvement in the outlook of the country's finances and economy.


The agency lifted the country's sovereign rating Friday by one notch to BBB+ from BBB.


In a report, Fitch said the "economic reforms of the labor market, pension system, fiscal framework and financial sector that have been enacted by the authorities since the start of the crisis have improved the longer-term outlook."


Spain was among the European countries hardest hit by the financial crisis. The property market's collapse in 2008 pushed the economy into recession and the government needed help from other eurozone countries to rescue its banks.


Although unemployment is still near 26 percent, Spain's economy is out of recession and the government borrowing rates have dropped.



Oil declines after rising on Ukraine crisis


The price of oil declined below $101 per barrel after disappointing earnings in the U.S. on Friday, having earlier risen on worries about the tensions in Ukraine.


Benchmark U.S. crude for June delivery shed $1.07 to $100.87 on the New York Mercantile Exchange. Brent crude, an international benchmark for oil, gave up 27 cents to $110.06 on the ICE Futures exchange in London a day after gaining $1.22.


Ukraine is going through its biggest political crisis since the fall of the Soviet Union, sparked by months of anti-government protests and President Viktor Yanukovych's flight to Russia. Ukrainian forces launched an operation Thursday to drive pro-Russia insurgents out of occupied buildings in the country's turbulent east. In response, Russia responded by announcing military exercises near Ukraine's border.


Traders are worried that an escalation in the tensions could push the U.S. and European Union to sanction Russia's economic interests, which are dominated by energy trade. Those concerns had pushed oil prices up, before other news brought it back down.


Weak earnings from Ford and Amazon in particular helped dent sentiment. A drop in Ford sales in the U.S. suggested consumer spending on transportation and fuel in the world's largest economy might not remain as strong as expected.


In other energy futures trading in New York:


— Wholesale gasoline was down 0.9 cents at $3.04 a gallon.


— Heating oil fell 1.9 cents to $2.99 a gallon.


— Natural gas fell 5.4 cents to $4.65 per 1,000 cubic feet.



President Obama Welcomes 20 Service Members Who Became American Citizens Today


naturalization ceremony

President Barack Obama participates in a naturalization ceremony at the War Memorial of Korea in Seoul, Republic of Korea, April 25, 2014. Walter Haith, Field Office Director, U.S. Embassy calls the name of each candidate, and Robert Daum, Deputy District Director, USCIS Asia-Pacific Region, administers the oath of allegiance. (Official White House Photo by Pete Souza)




This morning, President Obama welcomed 20 new American citizens at a special naturalization ceremony held at the War Memorial in Seoul, South Korea. President Obama celebrated the new citizenship of 13 services members and 7 military spouses at today’s ceremony. The President paid tribute to all those who served and fought for the United States in the Armed Forces, including generations of immigrants. The President also had the opportunity to highlight the important role of military spouses, 7 of whom were granted citizenship, for their commitment and service to the United States.


Those honored came form 14 different countries, each with a unique and poignant personal story but all shared a common love of our country. We celebrate the true meaning of patriotism -- the love of a country that’s so strong that these men and women were willing to risk their lives to defend our country even before they could call it their own. It is through the remarkable sacrifices of these 20 individuals that the power of immigrants in the United States is illustrated. These men and women defend our nation’s freedom day after day or support their spouses who do so.


read more


FDA reviews psychiatric side effects of Chantix


The Food and Drug Administration announced Friday it will convene a public meeting in October to review the risks of psychiatric and behavioral side effects with Pfizer's anti-smoking drug Chantix.


The agency said in a federal notice it will convene its panel of psychiatric drug experts to discuss the pill's risks and how to best manage them.


Since 2009 Chantix has carried the government's strongest safety warning — a "black box" label — because of links to hostility, agitation, depression and suicidal thoughts. The warning was added after the FDA received dozens of reports of suicide and hundreds of reports of suicidal behavior among patients taking the smoking-cessation drug.


At that time, the FDA also required Pfizer to conduct additional studies to determine the extent of the side effects.


A spokeswoman for Pfizer said Friday that the company recently submitted new data to the FDA comparing the drug's psychiatric safety to placebo and other anti-smoking techniques.


The FDA first began investigating potential side effects with Chantix in 2007, the year after the twice-a-day pill hit the market.


The drug's labeling tells patients to stop taking Chantix immediately if they experience agitation, depressed mood, suicidal thinking and other behavioral changes. Doctors are advised to weigh the drug's risks against its potential benefits in helping patients quit smoking.


Chantix had global sales of $648 million last year. That was down about 26 percent from the drug's peak sales of $883 million in 2007, its first full year on the market.


Shares of Pfizer Inc. fell 6 cents to $30.65 in morning trading.



Baltic states lead push to cut Russia gas reliance


Later this year, a ship the size of an aircraft carrier will arrive at Lithuania's port of Klaipeda on the Baltic Sea. The 300-meter (984-foot) vessel is not a warship, but a floating natural gas import terminal — aptly named "Independence" — that will be key to the Baltic region's plan to reduce its reliance on Russia's energy supplies.


The countries in this northeastern corner of the European Union are among the most dependent on Russia to keep their homes warm and industries running. The three Baltic nations of Latvia, Estonia and Lithuania get all their gas from Russia and lack connections to the wider European pipeline system that would allow them to import from elsewhere. Poland meets 70 percent of its energy needs with Russian supplies.


As a result, the states, which still have fresh memories of domination by Moscow during the Cold War, have been among the swiftest countries in Europe to act to reduce that dependence.


Moscow's use of gas supplies as a means of putting pressure on Ukraine — like the Baltics, once part of the Soviet Union — has driven new urgency into projects to diversify energy supplies in the region, even as the full 28-member EU has struggled to come up with a united approach.


Historical factors help make Poland and the Baltic states particularly skeptical about Moscow's intentions. Latvia, Estonia and Lithuania were forcibly incorporated into the Soviet Union during World War II, and thousands were deported to labor camps. During the Cold War, Poland was ruled by communists installed and backed by Moscow.


The choice of a floating gas terminal is a sign of the urgency felt in the region. It was two years faster to build than on land, and at $330 million, was some 50 percent cheaper. It will be able to handle 4 billion cubic meters (141 billion cubic feet) of gas a year — well above Lithuania's annual needs for 3 billion cubic meters — when it becomes operational in January. The ship, owned by Norway's Hoegh LNG and leased to Lithuania's SC Klaipedos Nafta terminal operator, has already undergone sea trials after being built at a shipyard in Korea.


Meanwhile, neighboring Poland is working on a new liquid natural gas terminal on its Baltic Coast that is slated to come on line early next year. The terminal at Swinoujscie will enable Poland to buy some of its gas from Qatar.


And Estonia and Finland are talking about building two new gas terminals at their end of the Baltic, as well as an undersea pipeline that would connect the two countries.


Other EU countries have been slower about establishing new projects. Germany has stalled on a proposal to set up a liquid natural gas terminal at Wilhelmshaven, on the North Sea.


Although the Baltics are leading Europe in the effort to diversify their energy sources, the solutions are not easy. Seaborne liquid gas — called liquid natural gas, or LNG — can be expensive, costing as much as 50 percent more in energy-hungry Asian markets. That's because it needs to be cooled to minus 165 degrees Celsius (minus 265 Fahrenheit) to make it liquid and shrink it to one-six hundredth of the original volume. Insulated tankers can then take it overseas.


As a result of such costs, analysts say, the Baltic states and Poland will likely not become completely independent of Russian imports. Rather, the new import capacity will serve as partial insurance against any cut-off threats. More to the point, it will also give the countries leverage in negotiating prices with Gazprom, Russia's state gas monopoly. Russia raised the price of gas for Ukraine to $485 per thousand cubic meters from $268.50, and President Vladimir Putin has said Russia may start demanding payment in advance — heavy burdens for a country whose finances are near collapse.


Building the new gas terminals "now means you have alternatives," said Aleksandra Gawlikowska-Fyk, head of the energy project at the Polish Institute of International Affairs. "Diversity always increases security of supply."


Other ways to diversify energy supplies are in the works, often supported by EU funds.


These solutions include changing pipelines so they can run west-east and not only east-west. German energy company RWE began such "reverse-flow" supplies on April 1 and says it will sell Ukraine 1 billion cubic meters a year — a symbolic amount, but a start.


The three Baltic countries are working on a new nuclear power plant in Lithuania to replace power lost after the EU forced Lithuania to shut down its Soviet-designed reactor over safety concerns. That project has been slowed by lack of cooperation from Latvia and Estonia, which missed out on hosting the reactor and the jobs that go with it.


Analyst Gawlikowksa-Fyk says the Ukraine crisis and concern from the EU's executive commission, may raise the pressure to change that.


"The external situation, as well as the commission, may incentivize those countries to cooperate," she said.



Associated Press writers Monika Scislowska in Warsaw and Jari Tanner in Helsinki, Finland, contributed to this report.


Weak earnings from Ford, others drag stocks lower


Stocks are heading lower in early trading following disappointing earnings reports from Ford and other big companies.


Amazon fell 8 percent after the huge online retailer forecast an operating loss for the second quarter as it continues to invest heavily in its business.


The Standard & Poor's 500 index fell six points, or 0.3 percent, to 1,872 in the first few minutes of trading Friday. The index is still up slightly for the week.


The Dow Jones industrial average fell 78 points, or 0.5 percent, to 16,420. The Nasdaq composite fell 22 points, or 0.6 percent, to 4,125.


Ford fell 3 percent after reporting earnings that fell short of Wall Street's expectations. Whirlpool also fell 2 percent after its own earnings didn't match what investors were looking for.



Ridesharing offers freebies in Lincoln, Omaha


State regulators will keep an eye on the ridesharing company Lyft as it offers free services in Lincoln and Omaha for the next two weeks.


The company announced Thursday that it was launching its service in 24 new U.S. markets.


By offering free rides, Lyft apparently has avoided immediate action by the Nebraska Public Service Commission. Earlier this week the commission sent a letter to Lyft and its competitor Uber, which also has indicated its intention to operate in Nebraska. The commission told both that they need the commission's permission to offer services in Nebraska.


Commission transportation director Mark Breiner said Thursday that officials will continue to monitor the situation.


The two and other ridesharing services use smartphone applications to link motorists and people who would pay for rides.



OSHA cites Chevron for explosion that killed woman


The Occupational Safety and Health Administration has cited the Chevron Pascagoula Refinery for safety violations and proposed a fine of $24,000 in the Nov. 15 explosion that killed a plant operator.


OSHA says Chevron has until May 2 to respond and until May 13 and June 4 to fix the problems.


The Sun Herald reports (http://bit.ly/1hvckO2 ) the explosion and fire occurred in a furnace during the early morning hours. Authorities say 49-year-old Tonya Graddy, of Semmes, Ala., was killed standing outside the furnace. The explosion sent up a huge plume of smoke, rattled windows and doors in east Pascagoula and created a concussion that was felt across town.


The refinery issued a statement Thursday that acknowledged it received OSHA's citation and said it was evaluating the findings.



Trading in Alstom halted amid talk of GE bid


France's markets regulator has ordered trading suspended in shares of engineering company Alstom amid heated speculation that General Electric Co. is considering buying it.


Reports that GE may make a bid sent Alstom shares spiking this week, and its stock closed nearly 11 percent higher Thursday at 27 euros. The Euronext stock exchange says trading was halted Friday morning at the regulator's request.


The French government is cool to the idea of a buyout of a company that pioneered TGV high-speed trains, later exporting them around the world, and builds nuclear turbines.


Economy Minister Arnaud Montebourg, who has fought against American companies seeking to buy French rivals, told Le Monde on Friday the government is "working on other solutions" for Alstom.


Alstom says it hasn't been informed of an offer.



Burger King's profit rises on cost cuts


Burger King reported a higher first-quarter profit as cost-cutting offset weak sales in the U.S.


The Miami-based chain said global sales at established locations rose 2 percent, including a 0.1 percent increase in the U.S.


McDonald's Corp. and Dunkin' Donuts also reported underwhelming sales for the first three months of the year.


Burger King Worldwide Inc. has been introducing an array of menu items to refresh its outdated image in the U.S. and striking deals with franchisees to expand its presence abroad.


For the quarter, the company earned $60.4 million, or 17 cents per share. Not including one-time items, it earned 20 cents per share, a penny more than Wall Street expected.


Revenue declined to $240.9 million as the company refranchised restaurants, falling short of the $241.3 million analysts expected.



Russia credit rating cut amid Ukraine crisis


Russia's Central Bank has unexpectedly raised its key interest rate in an effort to stem inflation as the country begins to feel the impact of its policies in Ukraine.


The Central Bank said Friday it has increased its one-week auction rate by 0.5 percentage points to 7.5 percent. The Russian ruble has fallen to record lows in recent weeks amid concerns over the Ukrainian crisis — a weaker currency tends to push inflation up.


Moscow in March recognized a hastily called referendum in Ukraine's Black Sea peninsula of Crimea and annexed it weeks later, attracting condemnation of the West as well some sanctions.


The bank said it does not expect to cut rates again in coming months and hopes Friday's hike will keep inflation under 6 percent this year.



Berri congratulates Palestinians on reconciliation


BEIRUT: Speaker Nabih Berri sent two separate letters to Palestinian officials Friday congratulating them on the reconciliation between leaders from the rival Fatah and Hamas movements in Palestine.


Berri sent the same message to Palestinian President Mahmoud Abbas and Gaza's Hamas Prime Minister, Ismail Haniyeh, and voiced satisfaction over the recent decisiont to form a national unity government.


“Such an achievement in this pressurized political moment that has proved so divisive reassures us that ... we can redirect people towards the main cause, which is Palestine,” the message said.


“We can thus bring down the plots aimed at dividing our nations,” the message said.


“Palestinian unity was and always will be the best weapon to achieve the national aspirations of your people and to preserve their struggles and unity.”


The Palestine Liberation Organization – internationally recognized as the sole representative of the Palestinian people – and the Islamist Hamas Movement that rules Gaza, agreed earlier this week to form a national consensus government within weeks, angering the U.S. and Israel.



Clear Lake company punished for firing driver


A federal agency has ordered a Clear Lake company to rehire a truck driver who had raised safety concerns.


A news release from the U.S. Labor Department's Occupational Safety and Health Administration says Absolute Waste Removal had to reinstate the driver and pay more than $23,000 in back wages, plus interest. OSHA also ordered the company to pay $50,000 in compensatory and $50,000 in punitive damages and pay attorney fees.


The company didn't immediately return a call Friday from The Associated Press.


OSHA says the driver was fired on Feb. 27 last year after repeatedly raising safety concerns about new procedures. OSHA says the driver rightfully refused to operate the truck in an unsafe manor.


The company can appeal to the Labor Department's Office of Administrative Law Judges.



Nevada rancher defends remarks, loses supporters


A Nevada rancher who became a conservative folk hero for standing up to the government in a fight over grazing rights lost some of his staunch defenders after wondering aloud whether blacks might have had it better under slavery.


Republican politicians from around the country who have rallied to Cliven Bundy's defense in recent weeks denounced the comments and distanced themselves from the rancher, including potential 2016 presidential contender U.S. Sen. Rand Paul of Kentucky and U.S. Sen. Dean Heller of Nevada. Democrats were quick to pounce on the comments and label Bundy a racist.


Bundy has gone from a little-known rancher and melon farmer in rural Nevada to a national political star since he resisted the federal government's attempts to round up his cattle from federal land because he hadn't paid grazing fees for two decades. His supporters, especially those on the right, have praised him for standing up to what they believe is a heavy-handed federal government, and several armed militia members traveled to his ranch to back Bundy.


His comments were first published in The New York Times on Wednesday, but he did little to tamp down the controversy as he sought to address the public outrage on Thursday.


Bundy was quoted in a Times story referring to black people as "the Negro" and recalling a time decades ago when he drove past homes in North Las Vegas and saw black people who "didn't have nothing to do." He said he wondered if they were "better off as slaves" than "under government subsidy."


On Thursday during an outdoor news conference near his ranch 80 miles from Las Vegas, he echoed the same sentiment: "Are they slaves to charities and government subsidized homes? And are they slaves when their daughters are having abortions and their sons are in the prisons? This thought goes back a long time."


A statement on the official Bundy Ranch Facebook page Thursday said that Bundy was a "good man, he loves all people, he is not a racist man." Bundy explained that he wasn't saying anyone should be enslaved today.


Politicians who had defended Bundy quickly issued statements condemning the remarks.


"His remarks on race are offensive, and I wholeheartedly disagree with him," Paul said.


Heller, who last week called Bundy defenders "patriots" for their stand against the government, "completely disagrees with Mr. Bundy's appalling and racist statements, and condemns them in the most strenuous way," said his spokeswoman, Chandler Smith.


Senate Majority Leader Harry Reid, a Democrat who last week called Bundy supporters "domestic terrorists," also spoke out against Bundy's words.


"Today, Bundy revealed himself to be a hateful racist," Reid said. "But by denigrating people who work hard and play by the rules while he mooches off public land, he also revealed himself to be a hypocrite."


Bundy says he doesn't recognize federal authority over lands around his property that his cattle have grazed on for years.


The Bureau of Land Management claims the cattle are trespassing on fragile Gold Butte habitat set aside for the endangered desert tortoise, and that Bundy has racked up some $1.1 million in fees and penalties since 1993.


Supporters rushed to Bundy's ranch after a YouTube video showed federal agents using a stun gun on Bundy's son during a BLM roundup of the family's cattle. The resulting armed standoff became so tense that BLM agents and contractors called off the weeklong roundup, released about 350 animals back to Bundy and left the area April 12.


Federal officials have said the agency would pursue unspecified administrative and judicial remedies, but BLM officials have not provided details.



Army arrests suspected robber in Bekaa


BEIRUT: Lebanon’s Army intelligence arrested a suspect in the Bekaa Valley wanted on several arrest warrants, a statement from the military said Friday.


Merhej Mohammad Jaafar is wanted for robbing travelers on a Syrian bus in the area of Tal al-Abyad in Baalbek in January, the statement said.


He is also wanted for opening fire against several citizens in Younine last month, the statement said.


The military launched an investigation with the suspect.



Seven injured in Akkar road accident


BEIRUT: Seven people were injured Friday when a truck mounted crane hit a passenger mini-bus head-on on the main Abdeh-Borqayel road in the north Lebanon region of Akkar.


The state-run National News Agency said the bus driver and six passengers were injured, some seriously, in the midday collision.



Ford's profit falls 39 percent in first quarter


Ford Motor Co.'s worldwide sales rose in the first quarter, propelled by growing strength in Asia and Europe. But weakness in North America dragged down the company's profit.


Its earnings missed Wall Street's expectations, while revenue beat. Its shares fell 3 percent in premarket trading.


Ford's first-quarter net income fell 39 percent to $989 million, or 24 cents per share, down from $1.64 billion, or 41 cents per share, in the January-March period a year ago.


That was far short of Wall Street's expectations. Analysts polled by FactSet forecast earnings of 31 cents per share.


Revenue rose slightly to $35.9 billion, beating analysts' expectations for $34.2 billion. Worldwide sales were up 6 percent to nearly 1.6 million.


Ford's U.S. sales fell 3 percent to 580,260 in the January-March period, the victim of bad weather and low buyer interest in smaller, fuel efficient cars like the Focus and C-Max hybrid. While the F-Series pickup continued to see gains, sales of other key vehicles like the Fusion sedan and Escape SUV were down.


In China, first-quarter sales soared 45 percent to 271,321 vehicles, while European sales were up 11 percent to 326,000.


Ford's North American operations were hit with $100 million in weather-related charges during the brutal winter, including increased costs for parts shipments. The company also set aside $400 million for its warranty reserves for the repair of prior models.


North American pretax profit fell 37 percent to $1.5 billion.


Dearborn-based Ford enjoyed one of the best years in its history in 2013, with a pretax profit of $8.56 billion. But it has already warned that this year will be leaner as it launches a record 23 vehicles and builds seven plants around the world. It's anticipating 13 weeks of expensive down time — up from five in 2013 — at its two U.S. pickup truck plants to prepare for the launch of a new aluminum-clad F-150. The truck goes on sale later this year.


Ford says it still expects a full-year pretax profit between $7 billion and $8 billion.


Its shares fell 48 cents, or 2.9 percent, to $15.84 in early premarket trading.



Probe into Daftardar’s terror case finalized


BEIRUT: Military Investigative Judge Imad Zein finalized Friday the probe into the terrorism case of leading figures in the Abdullah Azzam Brigades.


A judicial source told The Daily Star Zein concluded the investigation after lengthy questioning of Jamal Daftardar, the man once thought to be the next leader of the Abdullah Azzam Brigades, and Naim Abbas, the alleged mastermind behind two deadly bombings.


The late leader of the Abdullah Azzam Brigades, Majid Majid, appointed Abbas as the group’s military commander in Lebanon before he died of kidney failure at a military hospital in Beirut in January, less than three weeks after he was arrested by the Lebanese Army.


The judicial source said Zein referred the case to Military Prosecutor Saqr Saqr to make recommendations before an indictment is issued.


Military Investigative Judge Fadi Sawan has charged Daftardar and Abbas of belonging to terrorist networks, including Al-Qaeda and the Abdullah Azzam Brigades.


The charges also included transporting explosives-rigged vehicles from Syria to Lebanon and detonating them in residential areas in Beirut and the capital’s southern suburbs, as well as killing civilians and launching rockets into Israel.


Daftardar was arrested during a house raid in the Western Bekaa town of Kamed al-Loz in mid-January. He was regarded as the main candidate to take over the Abdullah Azzam Brigades leadership following the death of Majid.


Abbas has been in custody since February 12. He has already been charged in connection with the two car bombings in the Beirut suburb of Haret Hreik on Jan. 2 and Jan. 21.


The Al-Qaeda-linked Abdullah Azzam Brigades has claimed responsibility for several attacks in Lebanon, including the Nov. 19 twin suicide bombings on the Iranian Embassy in Beirut that left 30 people dead, among them an Iranian diplomat.



Hariri, Rai call for serious consultations over election


BEIRUT: Cardinal Beshara Rai and former Prime Minister Saad Hariri agreed on the need to hold serious consultations to elect a president on time, the National News Agency reported Friday.


Hariri and Rai, who spoke Thursday evening by phone, concluded that the period leading up to the second electoral Parliamentary session should be a time for “serious and responsible consultations over the presidential election.”


They also called for “holding the election by the constitutional deadline and as soon as possible out of keenness to preserve stability and democracy in Lebanon,” the NNA report said.


Hariri and Rai agreed that “the Lebanese people deserve to have a president that meets its aspirations and is capable of fulfilling Lebanon’s role regionally and internationally.”


Rai held talks Thursday with Speaker Nabih Berri in the latter’s Ain al-Tineh residence before heading to Rome.


The cardinal thanked Berri for convening the first session to elect a new president. The session earlier this week was attended by 124 out of 128 lawmakers but none of the candidates emerged victorious out of it.


Berri called for another session on April 30.



NYC to invest more pension funds with small firms


New York City Comptroller Scott Stringer will announce Friday that the city plans to invest $1 billion of its pension funds with smaller, and often women or minority-owned, management firms.


The commitment, which was first revealed to The Associated Press on Thursday, will dramatically increase the number of smaller investment firms — known as "Emerging Managers" — that will get a shot at working with a portion of the city's $150 billion pension system.


"This $1 billion commitment to Emerging Managers is a major investment in diversifying our roster of pension fund managers and improving the risk-adjusted returns of pension funds," Stringer said in a statement.


Emerging Managers, as defined by the city comptroller's office, have under $2 billion of assets or less than a three-year track record. With the new commitment, the city will have invested a total of more than $14 billion with the smaller firms, $9.8 billion of that to firms that have women or minorities as majority owners.


The new investment also means that Emerging Managers now have access to all of the pension funds' asset classes: public equities, private equities, hedge funds, fixed income and real estate.


Stringer's aides stressed that the new commitment, which will likely take months to fulfill, is not just an altruistic favor to smaller firms. Rather, they believe it also makes good business sense to invest some money with smaller firms that may take more creative approaches than giant investment companies.


"The funds are constantly on the lookout for the most talented investment managers in the world," said Stringer, a Democrat who took office in January. "Today we are saying that our doors are open to those firms that have what it takes to grow our pension funds."


Stringer will announce the new commitment at the annual Investment and Emerging Manager Conference, which is being held at the Manhattan headquarters of the United Federation of Teachers. The proposed investments will be subject to trustees' approval.



Whirlpool 1st-quarter performance mixed


Whirlpool's first-quarter net income fell 37 percent from results a year earlier that were bolstered by U.S. energy tax credits.


Adjusted earnings for the appliance maker — whose brands include Maytag, KitchenAid and its namesake — missed Wall Street estimates.


But revenue beat expectations, rising in North America and Europe, the Middle East and Africa. Latin American sales were flat, while sales in Asia declined.


Whirlpool earned $160 million, or $2.02 per share, for the three months ended March 31. A year earlier the Benton Harbor, Mich., company earned $252 million, or $3.12 per share.


The year-ago period included a $1.04 per share benefit from U.S. energy tax credits.


Removing restructuring costs and other items for the latest period, earnings were $2.20 per share.


Analysts, on average, expected earnings of $2.32 per share, according to a FactSet survey. The estimates typically exclude one-time items.


Revenue increased 3 percent to $4.36 billion from $4.25 billion, beating Wall Street's prediction of $4.29 billion.


Whirlpool Corp. maintained its forecast for full-year adjusted earnings of $12 to $12.50 per share. Analysts foresee $12.31 per share.



British government vetoes RBS bonus plan


The British government has vetoed a plan by part-nationalized Royal Bank of Scotland to pay bonuses of up to double annual salaries.


The bank had planned to put the bonus proposal to shareholders.


The Treasury said there could be no rise in the bonus cap because the bank has not yet completed its restructuring and remains 81 percent state-owned after a 2008 bailout.


It said Lloyds Bank, which is 25 percent state owned, would be allowed to seek the 2:1 bonus ratio because it had almost finished restructuring.


RBS said the decision put it at a commercial disadvantage.


Authorities have moved to curb stratospheric bonuses after the 2008 global banking crisis. New European Union rules limit annual payouts to 100 percent of annual salary, or 200 percent with shareholder approval.



Illinois-based Allsup to lay off 90 workers


An Illinois-based company that represents those with disabilities in dealings with government programs has announced it is laying off 90 of its roughly 600 workers.


The Belleville News-Democrat (http://bit.ly/1pukY9q) reports Belleville-based Allsup Inc. announced the job cuts Thursday.


The privately-held company says in a statement it "is making necessary changes in its business so it may adapt to continued trends within the Social Security disability program and other factors."


Thirty-year-old Allsup provides assistance to those seeking Social Security and veterans disability benefits, as well as Medicare services.



Nurses to strike 1 day in Hazard, Beckley, W.Va.


Registered nurses are planning a one-day strike at two hospitals in Kentucky and West Virginia operated by Appalachian Regional Healthcare.


The National Nurses United labor union issued a news release in which the nurses said they will strike May 1 to protest hospital demands that include what nurses see as unsafe work loads, the extension of a wage freeze and health coverage cuts.


The Lexington Herald-Leader (http://bit.ly/1jXN7yo ) said the hospitals are Appalachian Regional in Hazard and Beckley Appalachian Regional in Beckley, W.Va.


ARH said on its website the company will do what is necessary to continue "quality service to patients." The company also said it has filed unfair labor practice charges with the National Labor Relations Board against the Southern United Nurses/National Nurses United for alleged failure to bargain.



NY state boosts aid for homeowners in distress


The New York attorney general says 9 percent of New York's residential mortgages, representing nearly 225,000 families, are in distress, meaning at least 90 days delinquent.


More than 42,000 are a year behind.


Attorney General Eric Schneiderman says funding for a network of counselors and legal help for troubled homeowners will increase $10 million to $30 million for the year.


In 2011 when 345,000 New York families were facing foreclosure, he says half had never talked to a lawyer.


New York's foreclosure rate remains 5.8 percent, nearly three times the national average, following the 2008 burst in the U.S. housing bubble.


One reason is New York's foreclosure process — averaging 820 days — is nearly three times longer than the national average, partly due to homeowner rights to court-supervised mediation.



Cuomo: NY making $1B investment in solar power


New York Gov. Andrew Cuomo says the state is making a long-term, $1 billion investment in support of solar power.


The Democrat said Thursday that the money will provide funding certainty for efforts to expand solar power over the next decade.


Cuomo says the investment will help the state's solar power industry to move away from government subsidies.


The money is part of the NY-Sun initiative run by the New York State Energy Research and Development Authority, which is funded mostly through assessments on utilities.


Cuomo's office says the state has more than 400 solar power companies that together employ 5,000 workers.



Drilling plans near Ann Arbor met with opposition


A standing-room-only crowd of more than 300 people turned out for a meeting about plans to drill for oil or natural gas in an area west of Ann Arbor.


The Ann Arbor News reports (http://bit.ly/1iUAfv3 ) the crowd Thursday was overwhelmingly against any drilling in Washtenaw County's Scio Township.


Traverse City-based West Bay Exploration Co. performed seismic testing in September and has been moving forward with its drilling plans. Some residents are being asked to give up mineral rights and there's concern wells might come despite opposition.


The newspaper says West Bay now controls mineral rights to about 1,000 acres in Scio Township. Company Vice President Pat Gibson, who attended the meeting, says West Bay is interested in getting more leases to allow drilling "sooner rather than later."



Man loses leg in landmine explosion in Baalbek


BEIRUT: An operator at the Baalbek Water Department lost his right leg in a landmine explosion in east Lebanon Friday.


Security sources told The Daily Star Mohammad Farid Mazloum was transferring water when he stepped on the mine on the outskirts of Nahle, near the eastern city of Baalbek.


Mazloum was rushed to Dar al-Amal hospital for an emergency surgery, the sources added.



Tech co. relocating to Kenner from Atlanta


An Atlanta-based technology firm has announced plans to move its headquarters to Kenner.


The move by software development and information technology company 4th Source was announced Thursday.


A statement from Gov. Bobby Jindal's office said the project will create 320 new jobs with an average salary of $50,000 plus benefits.


Louisiana economic development officials began discussions with 4th Source in December 2013. The state offered the company an incentive package, including a workforce training program. The state says 4th Source is expected to use Louisiana's Digital Interactive Media and Software Development Incentive, which provides a 25 percent refundable tax credit on eligible production expenditures.


NOLA.com-The Times-Picayune reports (http://bit.ly/1lL19Jk) that Michael Wedge, the CEO of 4th Source, grew up in New Orleans' Mid-City neighborhood and in Jefferson Parish.


He was a member of the first graduating class of Alfred Bonnabel High School in Kenner.


Wedge left Louisiana to pursue his career but said the business climate in the state and the New Orleans area has become a compelling draw.


He cited state programs such as the digital media tax credit, the Quality Jobs cash rebate program for companies that create jobs in the state and the Louisiana Economic Development FastStart workforce training program. That program will help the company find the college graduates to fill its software development and information technology jobs, Wedge said.



Where will calorie labels appear? Not just menus


Diners could soon see calorie counts on the menus of chain restaurants.


But will they be able to get that same clear information at grocery stores, convenience stores, movie theaters or airplanes?


The food industry is closely watching the Food and Drug Administration to see which establishments are included in the final menu labeling rules, which are expected this year.


The idea is that people may pass on that bacon double cheeseburger if they know that it has 1,000 calories.


But non-restaurant establishments have lobbied hard for exemption, and the rules have been delayed.


FDA Commissioner Margaret Hamburg told Congress earlier this month that writing the rules has been "much more challenging than expected." The agency issued proposed rules in 2011 but has faced pressure to revise them to exclude retail outlets like grocery and convenience stores.


The FDA has sent the rules to the White House, meaning they could be released soon.


Five places you may — or may not — see calorie labels once the rules kick in:


RESTAURANTS


The restaurant industry pushed for menu labeling and helped it become law as part of health overhaul in 2010. Chain restaurants that operate all over the country wanted the federal standards because of an evolving patchwork of state and local laws that require calorie labeling and could have forced those outlets to follow different rules in different locations.


Not all restaurants are happy with menu labeling, though. Pizza restaurants, led by delivery giant Domino's, say it doesn't make sense to force their franchisees to order expensive new menu boards when few people walk into their brick-and-mortar outlets. They argue for putting the information online. The pizza companies say there are more than 34 million ways to order a pizza, and they need more flexibility on labeling than other restaurants. Supporters of the rules say pizzas are no different from sandwiches or other foods that have a variety of toppings.


The rules will only apply to restaurants with 20 or more outlets, so independent eateries are exempt. Bakeries, coffee shops and ice cream parlors are all expected to be included if they have enough stores to qualify. But alcohol won't have to be labeled in any of those places under the proposed rules. The FDA proposed exempting it.


SUPERMARKETS AND CONVENIENCE STORES


The supermarket and convenience store industries were perhaps the most unhappy with the rules that the FDA proposed in 2011. The agency proposed requiring those stores to label calories for prepared foods on menu boards and displays.


The restaurant industry has pushed for those outlets to be included, arguing that many of them are promoting their prepared food sales and directly competing with restaurants. Nutrition advocates have also called for those stores to be included, saying that a rotisserie chicken labeled with a calorie count at a restaurant should also be labeled at the grocery store takeout next door. Same with baked goods like muffins, pies or loaves of bread.


The supermarket industry estimates it could cost them a billion dollars to put the rules in place — costs that would be passed on to consumers. Along with convenience stores, the supermarkets say the ever-changing selection at salad bars, deli counters and other prepared food stations would make it difficult and costly to nail down accurate calorie counts and constantly update signs.


Both industries argue that the law is intended for restaurants and not for them. They say the labeling rules will be much easier to put in place at restaurants with fixed menus.


"The cost of compliance for a convenience store is different than a one-time cost to McDonald's," says Lyle Beckwith of the National Association of Convenience Stores.


MOVIE THEATERS


Movie theater chains lobbied to be exempt and appeared to win that fight when they were exempted in the 2011 proposed rules. But nutrition groups are lobbying to include them in the final rules, especially because movie treats can be so unhealthy.


Nutrition lobbyist Margo Wootan of the Center for Science in the Public Interest says many people don't realize they are eating a day's worth of calories when they stop by the movie concessions counter and grab a large popcorn and extra-large soda.


"If a company is going to serve you 2,000 calories and call it a snack, the least they can do is tell people how many calories are in it," Wootan says.


AIRPLANES AND TRAINS


Passengers will most likely be able to purchase food calorie-blind in the air and on the rails. Along with movie theaters, airlines and trains were exempted from the proposed labeling rules in 2011. The FDA said that it would likely exempt food served in places where the "primary business activity is not the sale of food" and that don't "present themselves publicly as a restaurant." That also includes amusement parks, sports stadiums and hotels, unless restaurants set up in those places are part of a larger chain.


VENDING MACHINES


Vending machines will be required to have labels, but the industry — comprised mostly of smaller operators — is asking for flexibility in how they are required to post them.


Eric Bell of the National Automatic Merchandising Association says the group estimates the rules could cost operators up to $42,000 a year, which he calls a "huge burden" on those small businesses.



Traverse City man's Ford Mustang turns 50


Ed Mucha always drives slow as he passes the front of the Hagerty Insurance headquarters. It's a habit the long-time car guy and retired tool maker kept for years.


Rolling along, his foot off the accelerator, Mucha, 78, gives himself plenty of time to get a glimpse of whatever classic car is on prominent display in the building's circular foyer. This month he drives a little slower and looks a little longer because his is the car in the window, according to the Traverse City Record-Eagle ( http://bit.ly/1eUSfGb ).


The Caspian Blue Metallic 1964 1/2 Ford Mustang convertible beamed almost as bright as Mucha's smile while he chatted about the car's 50th birthday. The first Mustangs rolled off the production line on April 17, 1964. Mucha's car's 289-cubic-inch V8 rumbled for the first time on April 22 that year.


Mustang club experts from the Detroit area told Mucha his car was the eighth Mustang convertible assembled. Most of the first ones went to Ford itself, Mucha said.


"I can't imagine selling it," he said. "You just get a good feeling looking at it."


And it's not like he hasn't had chances.


Somebody follows Mucha home, "every time I drive it," he said. "It's always been a good car."


One guy who tailed Mucha told him he wanted to buy the car and pulled out a stack of $100 bills.


"I said, 'you and a lot of other people,'" Mucha said.


He drove his Mustang as a family car for the first handful of years. It became a classic when it turned 10 years old, he said.


"We called it the 'honey car,'" Mucha said. "It's always the girls who come up and say 'nice car, mister.' The guys just sit there looking and rub their chin."


The car's been in his family longer than many of them have been alive.


"They don't ever remember a time without the Mustang," he said.


Mucha's Mustang currently is on display in the corner showroom at Hagerty Insurance.


Mucha bought the car more than 40 years ago from the Ford dealership in Traverse City. Two dealers and one other owner clocked less than 2,000 miles on the car's odometer in its first couple of years. Mucha remembers he paid less than $2,000 for the gently used car.


"She gave me hell," he said, smiling toward his wife, Betty.


"Who drives a convertible in northern Michigan?" she shot back.


It didn't take long to win her over, he added.


Since then, the family clocked about 80,000 miles on the car and hasn't done much besides maintain it. The car became a centerpiece in weddings, proms, graduations and family picnics.


Ford has produced the Mustang for the past 50 years consecutively.


Mucha doesn't drive the car much anymore — barely clocked 120 miles last year — but hopes one of his grandchildren will decide to preserve the classic.


This is an AP Member Exchange shared by the Traverse City Record-Eagle.



Global stocks tumble amid Ukraine tensions


Global stocks tumbled Friday after tensions over Ukraine mounted and Standard & Poor's cut Russia's credit rating, warning of capital flight and risks to investment due to the crisis.


Oil declined but stayed above $101 per barrel amid worries about the possible impact on Russian supplies.


China's benchmark Shanghai Composite Index dropped 1 percent to 2,036.52 and Hong Kong's Hang Seng fell 1.4 percent to 22,238.06. Taiwan's Taiex lost 1.9 percent to 8,774.12. Seoul, India, Singapore and Bangkok also declined.


Tokyo bucked the regional trend. Its Nikkei 225 added 0.2 percent to 14,429.26, rebounding after losing 1 percent a day earlier after talks between Prime Minister Shinzo Abe and President Barack Obama failed to produce a trade agreement.


In Europe, Germany's Dax fell 0.9 percent to 9,460.39 while France's CAC-40 shed 0.5 percent to 4,458.16 in early trading. Russia's Micex gave up 0.9 percent to 1,288.40.


Markets were on edge after Ukraine launched an operation to drive pro-Russian insurgents out of occupied buildings in the country's east. Moscow responded by announcing military exercises near Ukraine's border.


"Escalating tensions in Ukraine only serve to worsen sentiment," said Desmond Chua of CMC Markets in a report. "As the two nations inch ever closer to war, an outbreak will send investors fleeing to safe havens."


S&P's decision to cut Russia's rating from BBB to BBB-, its first such reduction in five years, was the most tangible economic result so far of Moscow's policy toward Ukraine. The rating is one step above speculative or non-investment grade.


S&P said it took the step because the tense situation "could see additional significant outflows of both domestic and foreign capital from the Russian economy."


Seoul's Kospi declined 1.3 percent to 1,971.66 and India's Sensex shed 0.6 percent to 22,747.79. Markets in Australia and New Zealand were closed for a holiday.


Earlier, solid earnings from Apple, Caterpillar and some other U.S. companies helped to reassure markets. But relief was mixed with concern about higher U.S. unemployment claims, which dampened enthusiasm about gains in durable goods orders.


The number of people seeking U.S. unemployment benefits jumped 24,000 to a seasonally adjusted 329,000 last week while durable goods orders rose 2.6 percent in March. That helped to recover some ground lost to declines in December and January.


"Durable goods are grinding their way back to pre-December norms but that's about it," DBS Group said in a report.


Benchmark U.S. crude for June delivery shed 30 cents to $101.64 on the New York Mercantile Exchange. The contract added 50 cents on Thursday to close at $101.94.


In currency markets, the dollar was up 0.1 percent at 102.42 yen and the euro was steady at $1.384.



Volvo truck maker turns Q1 profit on strong sales


Swedish truck maker AB Volvo says strong first-quarter sales and cost cuts helped it return to profitability during the period.


In a statement, the Goteborg-based group said Friday it made a net profit of 1.1 billion kronor ($170 million) during the period compared with a loss of 248 million kronor last year.


The group says demand improved in North America, western Europe and Japan and that its new heavy-duty trucks continued to be competitive, having "advanced" their position in the market with increased deliveries.


Revenue in the three-month period grew 13 percent to 65.6 billion kronor from 58.3 billion a year earlier.


CEO Olof Persson said plans to improve profitability had been successful but cautioned that "there is still more work to do" to cut costs.



Sina suspends book site after pornography reported


Chinese web giant Sina.com temporarily closed its literature site Friday after reports it would lose two crucial publication licenses for hosting pornography.


Sina decided to take books off its site while it undergoes "a self-correction action" to screen their content, according to a notice on its reading channel. Book reviews, cultural news, author biographies and interviews were still available.


State media reported Thursday that broadcasting authorities had decided to revoke Sina's licenses on Internet publishing and online audiovisual broadcasting and impose "a large number of fines," while some of its employees were being investigated by police. This came after authorities allegedly found pornographic content on its literature and video sites. Sina's video site was still operating normally Friday.


The high-profile announcement is part of China's latest anti-pornography campaign amid a wider crackdown on online expression that has seen individual microblogs closed and punishments for spreading rumors online.


While the government periodically launches campaigns targeting obscene or improper content, this is the first time a major Internet company has faced such a heavy punishment, which will likely serve as a warning to other big players.


Sina has the right to appeal the decision.



Europe gives Electrolux a Q1 profit boost


Swedish home appliance-maker Electrolux says the economic recovery in Europe helped the company's first-quarter net profit rise 19 percent to 431 million kronor ($66 million) from 361 million kronor.


The world's second largest appliance maker said Friday that the pick-up in Europe, the Middle East and Africa following "a prolonged period" of decline, helped its businesses post a 4.5 percent increase in sales during the period. Demand in North America was hit by severe winter conditions in early 2014, but was offset by a strong recovery in March.


Overall, net sales in the period grew to 25.6 billion kronor from 25.3 billion kronor a year earlier.


The company's cash position also improved dramatically to a negative 123 million kronor from a negative 2.7 billion kronor a year earlier.



73-year-old man commits suicide in Beirut


BEIRUT: A 73-year-old Beirut man threw himself from the fifth floor of an Achrefiyeh building in an apparent suicide Friday, security sources said.


Samir Njeim had suffered from depression ever since his wife passed away 12 years ago and his children left home, they added.



Thursday's Sports In Brief


BASEBALL


BOSTON (AP) — New York Yankees pitcher Michael Pineda was suspended for 10 games Thursday after being caught using pine tar. He said he won't appeal the penalty that will cost him two starts.


"I accept it," Pineda said before Thursday night's game at Fenway Park. "I know I made a mistake."


The commissioner's office announced the ban, which started immediately.


Pineda was ejected in the second inning of Wednesday night's 5-1 loss to the Boston Red Sox after umpires found the pine tar on the right side of the right-hander's neck.


After the game, Pineda admitted he used the pine tar to help him grip the ball on a cool, windy night.


BOSTON (AP) — New York Yankees right-hander Ivan Nova decided to have season-ending Tommy John surgery for a partially torn elbow ligament.


Dr. James Andrews is scheduled to perform the operation on Tuesday.


BOSTON (AP) — Boston Red Sox right fielder Shane Victorino was activated from the disabled list and inserted into the lineup for the first time this season.


He batted in his usual second spot against the New York Yankees after missing the first 22 games with a hamstring injury and the flu.


PHOENIX (AP) — The Arizona Diamondbacks placed left fielder Mark Trumbo on the 15-day disabled list with a stress fracture in his right foot and recalled outfielder Roger Kieschnick from Triple-A Reno.


Trumbo said he felt pain while jogging to his position Monday against the Chicago Cubs and an MRI revealed the stress fracture. He goes on the DL retroactive to Tuesday.


---


A woman who said Cincinnati Reds pitcher Alfredo Simon sexually assaulted her in a Washington hotel a year ago when the team was in town to play the Nationals is suing the player for $15 million.


The woman, identified as Jane Doe, filed the civil lawsuit Thursday in D.C. Superior Court. The suit says she met Simon at a nightclub and went with him by cab to the Mayflower Renaissance Hotel where, she claims, he forced sex upon her.


Adam Katz, Simon's agent, said he had no comment when reached by phone.


---


COLLEGE FOOTBALL


EVANSTON, Ill. (AP) — Northwestern University's football players will cast ballots Friday on whether to form the nation's first union for college athletes — a potentially landmark vote that will be kept sealed for months and possibly years.


The National Labor Relations Board said Thursday it will hear an appeal by Northwestern challenging the decision from a regional NLRB director who ruled the players are university employees and thus have the right to unionize. The board said the ballots will be impounded at least until it issues its decision later this year. If the case lands in court, it could be a far longer before the results of the vote are known.


---


SWIMMING


MESA, Ariz. (AP) — Michael Phelps is 0 for 1 in his comeback to the pool.


The 22-time Olympic medalist lost to Ryan Lochte in the 100-meter butterfly final at the Arena Grand Prix.


Lochte touched first in 51.93 seconds, second-fastest in the world this year. Phelps took second in 52.13 in his first meet since retiring after the 2012 London Olympics.


He is the three-time Olympic champion and current world record-holder in the event. His time tied for fourth-quickest in the world.


---


NCAA


INDIANAPOLIS (AP) — The NCAA's board of directors took the first step toward shifting power to the five largest football conferences, endorsing a 57-page plan that calls for giving 65 of the nation's biggest schools more autonomy in how to fund scholarships, handle health care and decide other increasingly hot-button issues involving their athletes.


If approved later this year, schools in the ACC, Big Ten, Big 12, Pac-12 and SEC could implement some rules on their own and would get more voting power over legislation that would affect every NCAA member school.


A formal vote on the recommendations is tentatively scheduled for the board's August meeting, and if it passes then, the transition could begin this fall.


---


PRO FOOTBALL


NEW YORK (AP) — The NFL will discuss expanded playoffs at the owners' meetings next month in Atlanta.


Commissioner Roger Goodell told a gathering of Associated Press Sports Editors on Thursday that a vote is uncertain on the proposal to add two teams to the postseason. Should the owners vote on the increase in May, Goodell said the 14-team playoffs could be implemented for the upcoming season, or for 2015.


If no vote is taken, then 2015 would be the target for expanded playoffs, with a vote possible in October or next March.


The league also would need to consult with the players union on the matter, but it seems clear more playoff teams are on the way.


BUFFALO, N.Y. (AP) — Pack up the pom-poms in Buffalo, because the Bills will be playing without the support of their official cheerleaders this year.


Stephanie Mateczun, whose company manages the Buffalo Jills cheerleading squad, said she has suspended operations through at least the end of the season. The decision was made two days after five former Jills filed a lawsuit complaining they worked hundreds of hours for free, and were subjected to groping and sexual comments.


The civil action was filed in state Supreme Court and seeks unspecified back pay and legal fees. It names Mateczun's company, Stejon Productions Corp., the Bills, and the Jills' former manager, Citadel Communications Co., as defendants. Stejon took over managing the cheerleaders in 2011.


CLEVELAND (AP) — Former Browns quarterback Bernie Kosar believes he has been unfairly sacked as a TV broadcaster.


Kosar has been removed as a color commentator for Cleveland's preseason games by the team. The Browns said Wednesday night he was being replaced by Solomon Wilcots, who will work with play-by-play announcer Jim Donovan.


Kosar contends he's been removed because of slurred speech he attributes to "a direct result of the many concussions I received while playing in the NFL."


---


PRO BASKETBALL


NEW YORK (AP) — Charlotte Bobcats forward Josh McRoberts was fined $20,000 by the NBA for making unnecessary and excessive contact with Miami Heat forward LeBron James.


McRoberts' foul against James with 50 seconds remaining Wednesday night in Miami in the Heat's 101-97 playoff victory over the Bobcats also was upgraded to a Flagrant 2.


MEMPHIS, Tenn. (AP) — Grizzlies coach Dave Joerger calls guard Mike Conley the kind of man a father would want to marry his daughter. Conley's peers certainly think highly enough to award him the NBA's Joe Dumars Trophy for sportsmanship.


Conley received 77 first-place votes of a possible 334 and earned 2,335 points overall for the award announced Thursday. He was followed by Boston's Jeff Green, Phoenix's Channing Frye, Washington's Bradley Beal, Portland's Damian Lillard and Chicago's Mike Dunleavy.


---


GOLF


AVONDALE, La. (AP) — Ben Martin treated a tiny gallery to a course-record round, shooting a 10-under 62 in the first round of the Zurich Classic.


Martin's 10th birdie was his most spectacular shot in a round full of them as he chipped in from 55 feet on the par-3 17th hole. That came a hole after the 26-year-old former Clemson player he hit the flag on a chip from behind the green, setting up a tap-in par.


DALY CITY, Calif. (AP) — Karine Icher of France birdied four of her first seven holes and finished with a 6-under 66 at Lake Merced to take the lead in the inaugural Swinging Skirts LPGA Classic.


The start was delayed two hours because of fog and play was suspended because of darkness with 24 players unable to finish the first round.


SHENZHEN, China (AP) — Spain's Alvaro Quiros and England's Simon Dyson shared the China Open lead at 5-under 67 when play was suspended because of darkness at Genzon Golf Club.


---


MOUNTAINEERING


KATMANDU, Nepal (AP) — Nepal's attempts to salvage the Mount Everest climbing season took another hit Friday as more Sherpa mountain guides packed and left the base camp for their village homes a week after the deadliest disaster on the world's highest mountain.


Their departures come as major expedition companies canceled their climbs and other Sherpas quit the mountain after an avalanche killed 16 of their fellow guides last week.


It also snowed Thursday night, and by Friday morning a layer of snow covered the tents and rocky surface of the base camp. There was also a small avalanche Thursday near the spot where the big one swept through a week ago, but no one was in the area.


---


CYCLING


AUSTIN, Texas (AP) — A Texas appeals court rejected Lance Armstrong's attempts to block an arbitration panel from reviewing $12 million in bonuses paid to him by a company that wants its money back, a setback for the cyclist who is fighting multiple legal battles that could strip him of his personal fortune.


The Dallas-based Fifth Court of Appeals had temporarily halted the case at Armstrong's request in March, but ruled Thursday it doesn't have jurisdiction at this stage of an arbitration matter.


---


George Hincapie was the "Loyal Lieutenant" who helped Lance Armstrong to seven Tour de France titles, only to later provide the key testimony that brought his downfall.


Now, Hincapie is talking again about one of the darkest eras in cycling.


In a book due out next month, part memoir and part mea culpa, Hincapie discusses not only his rise in cycling, from the son of a Colombian immigrant in the New York City borough of Queens to the top teammate of Armstrong, but also the pervasive use of performance-enhancing substances that came to mark an entire generation — and ultimately turned Armstrong from hero into pariah.


---


SOCCER


LISBON, Portugal (AP) — Substitute Lima scored in the 84th minute to give Benfica a 2-1 victory over Italy's Juventus in the first-leg of their Europa League semifinal.


Sevilla beat Valencia 2-0 in the other semifinal.


---


SKIING


VIENNA (AP) — The head coach of the U.S. Alpine speed team, Andreas Evers, was fired by the U.S. Ski and Snowboard Association, hours after the Austrian was sentenced to four months in prison plus 20 months on probation for money laundering.


"Core values, including integrity, are a cultural mainstay of the U.S. Ski and Snowboard Association and the standard that we expect of our athletes, staff, coaches and volunteers," association president and CEO Tiger Shaw said.


The team said it had no immediate plans on replacing Evers, who was hired two years ago.


---


AUTO RACING


MUNICH (AP) — Formula One boss Bernie Ecclestone rejected accusations of bribery as he went on trial in a case that could threaten his grip on the sport, telling a Munich court that he was blackmailed by a German banker who received a disputed $44 million payment.


Ecclestone said at the beginning of a four-hour personal statement read out in German by his lawyers that he was "grateful" to be able to give his side of the story — though he told judges that he would answer questions from the Munich state court through his lawyers, rather than personally.


The 83-year-old Ecclestone is charged with bribery and incitement to breach of trust, and could face up to 10 years in prison if convicted.



Egypt tries to save money on wheat subsidies


Egypt will try to save half the money it spends on wheat subsidies by issuing a new smart card system to ensure that the cheap bread goes to only the neediest.


Egypt is the world's largest importer of wheat and the country's supply is subject to price changes on the international market. Unrest in Ukraine has pushed up wheat prices worldwide in recent months.


Supply Minister Khaled Hanafy said in an interview this week with The Associated Press that the new cards will help the government prevent citizens from buying in bulk and save roughly 11 billion Egyptian pounds ($1.6 billion), half of what it spends on bread subsidies yearly.


Farmers began harvesting the annual wheat crop this week, and the staple forms the basis for the country's subsidized flat bread — a staple of the Egyptian diet. This year's harvest comes as the country starts to reform its decades-old food subsidy policies with the electronic smart card system. Last month, the government piloted the program in Port Said.


Subsidized bread remains a lifeline for many Egyptians, amid a roughly 10 percent yearly rate of inflation in food prices. But the subsidy policy has become an increasingly heavy burden on the state budget.


The crop has also become mired in politics due to its importance to Egypt's poorer classes. In 2008, shortages in subsidized bread led to fights that killed eight people. In 1977, an attempt to end such subsidies led to riots that required army intervention.


State-run bakeries sell bread from 5 piasters (0.7 cents) per piece to 50 piasters (7.1 cents). In private owned-bakeries, the cheapest bread is 25 piasters (3.5 cents).


Increasing Egypt's wheat cultivation is an unrealistic expectation, Hanafy said. He said that Egypt will continue to rely on foreign sources.


"I don't believe that we are targeting self-sufficiency with wheat," he told the AP while giving a tour of one of the country's golden wheat fields as it was being harvested. "I don't believe economically that this is a desired objective."


He said Egypt's precious arable land is needed for other crops, and it would be inefficient to use it solely for wheat.


"There is an opportunity cost," he said.



Renowned Lebanese actress dead


BEIRUT: Famous Lebanese actress Laila Hakim passed away Friday after a battle with illness.


Hakim, in her 80's, is known for her leading roles in several TV drama series.


She also appeared on stage and in several films.


Her funeral will be held on Saturday at 4 p.m. at Sacre-Coeur church in Badaro, Beirut.



Berri says next electoral session serious


BEIRUT: Speaker Nabih Berri described in comments published Friday the first round of the presidential election as a “rehearsal” and said next week’s session will be aimed at electing a new head of state.


Meanwhile, Saudi Ambassador to Lebanon Ali Awad Asiri denied that his country intervenes in local Lebanese affairs, particularly over the presidential election.


“The real session next week will not be a session [for identifying] candidates; it will be the session of the president,” Berri told As-Safir daily.


“The first session was a rehearsal ... and the results were already known. But we now move to the stage of the election of a president,” he said.


The speaker also said that all those who wish to run for the presidential election should announce their candidacy.


“I am eager for more announced candidates to push the presidential election forward,” Berri said.


Berri denied that he discussed the election with any foreign ambassador or delegation, and said he would keep calling on Parliament to convene until it elects a leader.


Separately, Asiri denied in comments to As-Safir that his country is coordinating with any Lebanese parties over the election.


“The Saudi kingdom does not interfere with the Future Movement or any other party in Lebanese affairs,” he said.


He also denied media reports that Riyadh is pushing a certain candidate for the presidential post.


Lebanon’s Parliament failed in the first round of the election Wednesday to choose a new head of state to replace President Michel Sleiman, whose term ends on May 25.


Lebanese Forces leader Samir Geagea, the first to publicly announce his candidacy, gained 48 out of 128 votes against 52 blank ballots cast by most of the March 8 coalition’s MPs while 16 votes went to MP Henri Helou, who was nominated by Progressive Socialist Party leader MP Walid Jumblatt, and one vote for Kataeb leader Amin Gemayel.


Another session for the presidential election is scheduled next week.