Tuesday, July 2, 2013

Muslim Brotherhood's headquarters ransacked amid nationwide Egypt protests

LIVE VIDEO ? Protesters gather in Tahrir Square in downtown Cairo, Egypt.

By Ayman Mohyeldin, Charlene Gubash and Ian Johnston, NBC News

CAIRO - Egypt?s military on Monday said mass protests calling for the resignation of Islamist President Mohammed Morsi were an ?unprecedented? expression of the will of the people and gave the government 48 hours to meet the opposition's demands.

In a statement read on state television just hours after the headquarters of Morsi?s Muslim Brotherhood movement were ransacked, General Abdel Fattah al-Sisi said if this did not happen the army would intervene.

The protesters' main demands are that Morsi announce early elections and step down, allowing a temporary government to take over.

"If the demands of the people are not realized within the defined period, it will be incumbent upon (the armed forces)... to announce a road map for the future,? the statement said. It was followed by patriotic music.

Protesters attacked and stormed the headquarters of the Muslim Brotherhood in Cairo, calling for Egypt's president Mohammed Morsi to step down. NBC's Ayman Mohyeldin reports.

The road map would be created by the army, which would also oversee the plan's implementation, the statement said.

It was unclear if the military was effectively demanding Morsi's resignation and a Muslim Brotherhood politician insisted there would not be "a coup."

On his Facebook page Monday, Morsi said he was meeting with the general al-Sisi as well as the prime minister. What they discussed was not disclosed.

Sixteen people were killed and more than 700 were wounded during the protests Sunday and early Monday.

The military statement stressed that the military would remain neutral in politics and maintain its role as protector of the people and the nation?s borders.

The statement said the military will "not be a party in politics or rule."

But it added the armed forces had a responsibility to act because Egypt's national security was facing a "grave danger."

A source at Egypt's presidential palace said Morsi's office was not told in advance that the 48-hour ultimatum would be issued.

In Cairo's Tahrir Square, the vast crowd began to chant that the army and the people were one after al-Sisi's address. Army helicopters circled over the city flying Egyptian flags.

However, Yasser Hamza, a leader of the Brotherhood's Freedom and Justice Party,?warned against misinterpreting the army statement.?

"For an institution of state to come and stage a coup against the president, this will not happen," he said. "Any force that goes against the constitution is a call for sabotage and anarchy."?

As the military statement was read, President Barack Obama urged all sides to refrain from violence shortly after he arrived in Tanzania.

"We're all concerned about what's happening in Egypt," Obama said. "There is more work to be done to create the conditions in which everybody feels that their voices are heard and that the government is responsive and truly representative."?

U.S. State Department spokesman Patrick Ventrell said the U.S. is closely watching the situation in Egypt, and is in touch with all sides, and?encouraged groups to avoid violence.

"Our message publicly and privately has been very consistent, that we want to see Egyptians succeed, that we don't take sides, we don't have a?particular party or group or interest that we're backing.? Ventrell said. ?Indeed, the only thing that we're backing is the Egyptian people and the goal?of their success in their democratic transition, that they can get their economy back on track, that they can fully see their democratic transition?succeed."

In a statement, the United Nation also called for Egyptians to resolve differences through ?democratic means.?

The attack on the Brotherhood building was bloodiest incident of the weekend's huge and mostly peaceful protests against Morsi.

It began after dark Sunday and continued for hours, with guards inside the suburban Cairo building firing on youths hurling fire bombs and rocks. Reuters cited medical and security sources as saying that eight people were killed but the figure could not be independently confirmed by NBC News.

Protesters breached ?the Cairo compound's defenses and stormed the building. Crowds later carried off furniture, files, rugs, air conditioning units and portraits of Morsi, according to an Associated Press journalist. One protester emerged with a pistol and handed it over to a policeman outside. ?

Footage on local television showed broken windows, blackened walls and smoke coming out of the building. A fire was still raging on one floor hours after the building was invaded. One protester tore down the Muslim Brotherhood sign from the building's front wall, while another hoisted Egypt's red, black and white flag out an upper-story window and waved it in the air in triumph.

Lasers were used as part of a demonstration in Cairo against President Mohamed Morsi. Hundreds of thousands of Egyptians flooded into the streets on the first anniversary of Morsi's inauguration on Sunday to demand that he resign.

The images were reminiscent of the destruction of the state security headquarters when Hosni Mubarak was toppled in 2011.

A spokesman for the Brotherhood said it would be demanding answers from security officials who failed to protect it. ?He said two of those inside were injured ?before a security detail from the movement was able to evacuate all those inside the compound in mid-morning.

Organizers behind Sunday's protests -- who managed to get 22 million signatures calling on Morsi to step down -- ?said they would give him until Tuesday at 5 p.m. (11 a.m. ET) to meet their demands otherwise they would call for nationwide strikes.?

Protesters also demanded?early elections, but late on Sunday night word from the presidential palace was that Morsi had no intentions of calling them.?

Some anti-Morsi protesters spent Sunday night in dozens of tents pitched in the capital's central Tahrir Square and in front of the president's Ittihadiya Palace. They have vowed to stay there until Morsi resigns. Morsi supporters, meanwhile, went on with their sit-in in front of a major mosque in Cairo.?

Sunday's protests were the largest seen in Egypt in the 2? years of turmoil since the ouster of autocratic Mubarak in February 2011.?

NBC News' F. Brinley Bruton, Jeff Black, Reuters and The Associated Press contributed to this report.

Amr Nabil / AP

The headquarters of Egypt's Muslim Brotherhood was ransacked as widespread protests against President Mohammed Morsi turned violent.

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Democrat predicts House will pass Senate immigration bill (reuters)

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Sunday, June 30, 2013

Golf-In-form Dutchman Luiten leads Irish Open

June 29 | Sat Jun 29, 2013 5:30pm BST

June 29 (Reuters) - Dutchman Joost Luiten will be chasing his second European tour victory of the month when he takes a one-shot lead into the final round of the Irish Open on Sunday.

The world number 94, who won the Austrian Open three weeks ago, hit a six-under par 66 in the third round on Saturday to lead Spain's Pablo Larrazabal by one shot at Carton House, County Kildare.

Overnight joint-leader Robert Rock is third, three shots behind Luiten, who also finished tied for 10th at the BMW International Open in Munich and 11th at an event in Sweden this month.

"It was good today - a round in this wind with no bogeys is always good," the 27-year-old told the European tour website (www.europeantour.com).

"It looks like I'm playing good, playing consistently. I don't make a lot of silly mistakes, the game feels good."

Luiten made six birdies in his round of 66, a score matched by Larrazabal and England's Rock was steady on his way to a one-under-par 71.

England's Paul Casey, a former world number three and European Ryder Cup player, finished a shot behind Rock after a third-round 67.

A number of leading players, including Northern Ireland's world number two Rory McIlroy, missed the cut just three weeks before the British Open starting at Muirfield, Scotland on July 18. (Reporting by Josh Reich, editing by Ed Osmond)

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HBT: Mets may ease off Harvey in second half

MLB.com?s Anthony DiComo and Chris Iseman report that Mets manager Terry Collins has spoken with GM Sandy Alderson about ace starter Matt Harvey?s workload, discussing the possibility of taking it easy with the right-hander over the final three months. The article notes that Harvey is on pace to throw 249 innings, well above the combined 169.1 innings logged last year between Triple-A Buffalo and the Majors.

More from the article:

?As we continue into the season with three months to go, always remember something: we are not ? we are not ? going to hinder this kid?s health by killing him now, when the future is so bright,? Collins said. ?With Wheeler coming, with Montero coming, all these young prospect pitchers coming, we?re not going to jeopardize what?s down the road for right now. I?m not going to do it. So we?re going to monitor his workload, and hopefully he gets through the month of September.?

Harvey is enjoying a fantastic season, emerging as one of baseball?s best starting pitchers. He currently leads the National League in ERA (2.00), adjusted ERA (181), strikeouts (132), strikeout rate per nine innings (10.2), and WHIP (0.855).

Source: http://hardballtalk.nbcsports.com/2013/06/29/mets-may-take-it-easy-with-matt-harvey-going-forward/related/

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Saturday, June 29, 2013

Stocks sag, but Dow logs best first half of year since 1999

stocks

June 28, 2013 at 5:04 PM ET

The Dow and S&P 500 dropped on Friday as investors were reluctant to jump in following a three-day rally, but major averages still capped the volatile quarter with gains.

Stocks finished lower for the month of June, logging their first monthly drop this year. But all three major averages logged their third winning quarter in four. And so far for the year, the Dow has surged more than 14 percent, while the S&P 500 and Nasdaq have spiked more than 13 percent each.

The Dow Jones Industrial Average declined 114.89 points to close at 14,909.60, pulling back after logging its third-straight day higher. Still, the Dow posted its strongest first half of the year since 1999.

The S&P 500 fell 6.92 points to finish at 1,606.28. The S&P 500 logged its best first half performance since 1998. The Nasdaq eked out a gain of 1.38 points to end at 3,403.25.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, finished unchanged below 17.

For the quarter, the Dow rose 2.27 percent, the S&P 500 climbed 2.36 percent, and the Nasdaq soared 4.15 percent. Microsoft was the best performer for the quarter on the Dow, while IBM tumbled.

Financials topped the S&P 500 sector gainers in the second quarter, while utilities lagged.

Stocks initially opened in negative territory after Fed Governor Jeremy Stein highlighted the upcoming September policy meeting as a possible time when the central bank may need to consider paring back its QE program, adding that the Fed consider the overall economic improvements since it launched the stimulus instead of giving undue weight to the most recent round of tepid economic data.

(Read More: Buckle Up! Expect More Market Volatility This Year)

Stein's comments contradicted comments from other Fed policymakers who have suggested the central bank will bide its time before scaling back its bond purchases.

Menawhile, Richmond Fed President Jeffrey Lacker said markets should brace for more volatility as they digest news the Fed will scale back bond buying later this year, but the swings will not derail growth. Lacker said he expects U.S. growth to remain around 2 percent for the "foreseeable future."

(Read More:Fed Out in Force as Markets Stabilize)

On the economic front, business activity index in the Midwest fell in June to 51.6 from 58.7 in May, according to the Institute for Supply Management-Chicago. A Reuters survey of economists on average expected a median reading of 56.0 in June versus the May figure of 58.7.

Meanwhile, consumer sentiment improved in late June, with the final reading on the overall index at 84.1, above the preliminary reading of 82.7, according to Thomson Reuters/University of Michigan. Economists polled by Reuters had forecast the final June reading of 82.8.

Japan's benchmark stock index hit a three-week high on the heels of positive economic reports that include much stronger than expected industrial output and retail sales numbers.

"We had better job market numbers, better production numbers, and even consumer prices are picking up. So data-wise, today is a pretty good day for Japan," said Takuji Okubo, principal and chief economist at Japan Macro Advisors.

Traders will closely watch gold prices, as the precious metal dipped below a key level of $1,200 per ounce. Analysts warned that miners could be severely affected if prices remain this low.

(Read More: Three Reasons Gold Will Go to $800)

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Car buyers appear unfazed by stock market gyrations

Autos

2 hours ago

In this Wednesday, May 8, 2013 photo, a row of new 2013 Ford Fusions is seen at an automobile dealership in Zelienople, Pa.

Keith Srakocic / AP

In this Wednesday, May 8, 2013 photo, a row of new 2013 Ford Fusions is seen at an automobile dealership in Zelienople, Pa.

It seems like the recent stock market tumble, and the perception that interest rates are rising, are, at most, background noise to American car buyers.

Sales of new cars and trucks continue to move along at a steady clip during June, according to new estimates from J.D. Power & Associates and LMC Automotive. A monthly sales forecast based on direct dealer data indicates new-vehicle retail sales are showing no signs of letting up at the start of the summer selling season.

New-vehicle retail sales in June are projected to come in at 1,118,800 vehicles, which represent a Seasonally Adjusted Annualized Rate of 13.2 million units, a healthy increase of 500,000 from the May SAAR. Retail transactions are the most accurate measure of true underlying consumer demand for new vehicles.

Total light-vehicle sales in June 2013 are expected to grow by 12 percent from June 2012 to 1,380,800 units. Fleet sales in June are just 19 percent of total sales. Fleet volume for the month is projected at 262,000 units.

Adding together retail and fleet business and the overall SAAR is expected to reach 15.7 million units this month. That?s a big jump from the 14.5 million vehicles sold in 2012 ? a five-year high ? and nudges by even the most optimistic forecasts for 2013, which general had set a high of around 15.5 million sales this year.

The strong selling pace continues to be matched by strong transaction prices. Thus far in June, the average transaction price of new vehicles ? what customers actually spend when both incentives and options are included ?is $28,900, the highest figure ever for June.

While sales overall are strong, not all segments are selling at the same pace. Sales of premium vehicles account for just 11.7 percent of new-vehicle retail sales thus far in June, down from 12.9 percent in June 2012.

?Although the premium segment growth has lagged non-premium, there is some good news for the industry in that the average price of premium vehicles in June is $47,000, up almost 4 percent from June 2012,? said John Humphrey, J.D. Power senior vice president of the global automotive practice. ?New premium vehicles entering the market late this year will also help bolster sales through the second quarter of 2014.?

Among other new models due for launch are the all-new Mercedes-Benz S-Class and a trio of luxury diesels from Audi.

The underperformance of premium light-vehicle sales is largely due to the age of the models in these segments. J.D. Power calculates that the average age ? the number of months the vehicle has been in the market since it was introduced or redesigned ? of premium models sold in the second quarter of 2013 was 43 months. In comparison, the average age of non-premium models, excluding pickup trucks is only 34.5 months.

Hyundai America chief executive officer John Krafcik noted last week that competition in the auto industry is very fierce and forces manufacturers to intensify efforts to win over customers. Even the threat of higher interest rates hasn?t undermined the market?s momentum, he said.

Competition in the mid-sized segment has been particularly fierce in recent months with Toyota, Honda, Nissan, Ford, General Motors, Hyundai, Volkswagen and Kia all introducing new or substantially updated models. The compact and subcompact segment also have seen a flood of new entries.

J.D. Power expects that by the second quarter of 2014, the average age of premium products will fall to just 33 months, as new and redesigned products enter the marketplace.

LMC Automotive continues to hold the outlook for total light-vehicle sales in 2013 at 15.4 million units, but has increased its forecast for retail light-vehicle sales to 12.6 million units from 12.5 million units, as retail sales growth expands.

More from The Detroit Bureau:

'Lola' tops 200 mph, sets EV world speed record

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Copyright ? 2009-2013, The Detroit Bureau

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