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Friday, June 26, 2015

Dunya TV

Dunya TV

IMF to Fed: Drop the dots

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WASHINGTON (Reuters) -Now that International Monetary Fund head Christine Lagarde has told the Fed to wait to raise interest rates, the IMF staff has followed up with suggestions that the U.S. central bank remake its communications policy and, in a phrase, ditch the dots.The dot plot of interest rate projections issued by Fed officials every three months is confusing, an IMF staff paper has concluded, and should be replaced with a staff forecast of the interest rates needed to achieve the Feds goals of full employment and stable inflation.It is not straightforward to connect the dots to get a coherent vision of the path ahead, a team of IMF researchers wrote. The dots do not provide a clear picture of the Federal Open Market Committees majority view.The dot plot shows the individual rate projections published anonymously by Fed policymakers.A more transparent forecast, prepared by staff and perhaps presented at least as the majority view of the Feds policy committee, would make the central bank more effective and is the main next step for modifying the existing framework at the Fed, the IMF researchers wrote.In recommending that the Fed drop its dots, the IMF is wading into a long and tortured debate.The dots have plenty of critics for some of the very reasons the IMF cites. It is hard to tell the majority view. Because the forecasts are anonymous, they leave analysts guessing, for example, which dot belongs to Chair Janet Yellen.A committee of the Fed is examining those and other communications issues, but has not yet made recommendations.Some policy makers have also suggested issuance of a staff forecast, similar to what the European Central Bank produces, so that analysts and the public have a clearer view of where the Fed thinks the economy and rates are heading. Members of Congress have made similar suggestions.But the idea has always foundered at an institution whose various members give different weight to different bits of data, have different views on policy, and have a plethora of staff forecasts and models volleying around the Washington-based board of governors and 12 regional banks.Rallying around one forecast, the IMF suggested, would raise the effectiveness of monetary policy.

Asia falls, euro drifts as Greece remains in spotlight

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TOKYO (Reuters) -Asian equities fell on Friday as Greece failed again to reach an agreement with its creditors and stumbled toward a default, while major currencies like the euro and dollar drifted as the debt saga sidelined investors.MSCIs broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent.Japans Nikkei dipped 0.1 percent. Despite household spending rising more than expected, inflation has remained flat, keeping alive expectations for more central bank stimulus later this year.Australian shares lost 0.9 percent, while South Koreas Kospi bucked the trend and gained 0.2 percent.Last-ditch talks will resume on Saturday either avert a Greek default next week - Athens has to repay the International Monetary Fund on Tuesday - or start preparing for a Plan B to protect the euro zone from financial market turmoil.A breakdown in talks on Thursday again revealed the wide gap in understanding between Greece and its creditors, highlighting the prospect of Athens refusing to accept any proposed concessions. Commentators also pointed to the fact that the German parliament has to ratify any changes first before paying for a bailout.This all points to a significant risk that Greece will fail to make its June 30th payment to the IMF and go into technical arrears, economists at Capital Economics wrote.The euro was flat at $1.1203 EUR=, stuck within a tight $1.1235-1153 range for the third day. It was poised to end the week about 1.2 percent lower.The dollar was also little changed, last trading at 123.57 yen JPY= and hemmed in a 124.38-122.56 range this week.With Greece in the spotlight once again, upbeat U.S. data that could have otherwise lifted the dollar by fanning hopes for a rate hike by the Federal Reserve was relegated to the background.Figures on Thursday showed U.S. consumer spending recorded its largest increase in nearly six years in May, further evidence that economic growth was accelerating in the second quarter.In commodities, U.S. crude extended losses to the third day with weaker U.S. refined fuels markets and potential negative impact from Greeces debt crisis on European energy demand taking a toll.U.S. crude CLc1 shed 2 cents to $59.68 a barrel.

U.S. top court backs Obamacare, president says it's here to stay

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WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday rejected a conservative legal challenge that could have doomed President Barack Obamas healthcare law, upholding nationwide tax subsidies crucial to his signature domestic policy achievement.Obama strode into the White House Rose Garden after the ruling to declare that the law known as Obamacare is working, helping millions of Americans afford health insurance who otherwise would have none, and that it is here to stay.Chief Justice John Roberts, a conservative appointed by Republican President George W. Bush, wrote in the 6-3 ruling that Congress clearly intended for the tax subsidies that help millions of low- and moderate-income people afford private health insurance to be available in all 50 states.The court decided that the law did not restrict the subsidies to states that establish their own online health insurance exchanges, as the challengers in the case contended.Congress passed the Affordable Care Act to improve health insurance markets, not to destroy them, Roberts wrote, adding nationwide availability of the credits is required to avoid the type of calamitous result that Congress plainly meant to avoid.Roberts was joined by fellow conservative Justice Anthony Kennedy and the courts four liberal members in a ruling that may ensure Obamacare becomes a lasting element of the nations social programs.The ruling means the current system will remain in place, with subsidies available nationwide. If the challengers had won, at least 6.4 million people in at least 34 states would have lost subsidies worth an average of $272 per month.It marked the second time in three years the high court ruled against a major challenge to the law brought by conservatives. Both rulings were written by Roberts. Unlike the 2012 case, in which the court was split 5-4, Kennedy joined Roberts in the majority this time.The law was passed by Obamas fellow Democrats in Congress in 2010 over the unified opposition of Republicans, who have fought it since its inception.Republicans will keep attacking Obamacare in Congress and on the 2016 presidential election campaign trail to energize right-wing voters and raise money, but little chance exists of the law being rolled back before the end of Obamas presidency in January 2017, political analysts said.Obama said the law has been woven into the fabric of America.After more than 50 votes in Congress to repeal or weaken this law, after a presidential election based in part on preserving or repealing this law, after multiple challenges to this law before the Supreme Court, the Affordable Care Act is here to stay, Obama added.The question before the justices was whether a four-word phrase in the expansive law saying subsidies are available to those buying insurance on exchanges established by the state has been correctly interpreted by the administration to allow subsidies to be available nationwide.The exchanges are online marketplaces that allow consumers to shop among competing insurance plans.Roberts wrote that although the conservative challengers arguments about the plain meaning of the statute were strong, the context and structure of the act compel us to depart from what would otherwise be the most natural reading of the pertinent statutory phrase.SCALIA DISSENTSAfter Chief Justice Roberts announced the decision from the bench, Justice Antonin Scalia read for 11 minutes from his dissenting opinion inside the courts white marble and crimson-draped setting.

British PM Cameron says delighted EU renegotiation is underway

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BRUSSELS (Reuters) -Prime Minister David Cameron said on Friday that he was delighted to have begun a renegotiation of Britains membership of the European Union.Speaking to reporters in Brussels at around 0100 GMT after hours of talks with other EU leaders on Greece and the migration crisis, Cameron said:It has been a long night and we have discussed some very important subjects, but above all I am delighted that the process of British reform and renegotiation and the referendum that we are going to hold - that process is now properly underway.People always say to me: These things arent possible. You will never get them done. Well, once again we have proved we will get them done: We have started that process.

U.S. intelligence chief: China top suspect in government agency hacks

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WASHINGTON (Reuters) -U.S. intelligence chief James Clapper said on Thursday that China was the top suspect in the massive hacking of a U.S. government agency that compromised the personnel records of millions of Americans.The comments from Clapper, the director of National Intelligence (DNI), were first reported in The Wall Street Journal and marked the first time the Obama administration has publicly accused Beijing of the hacking attacks on the Office of Personnel Management.You have to kind of salute the Chinese for what they did, given the difficulty of the intrusion, the Journal quoted Clapper as saying at a Washington intelligence conference.In a statement, Clappers office confirmed that he had identified China as a leading suspect, although it said the U.S. government investigation was ongoing.U.S. officials have previously blamed the attacks on Chinese hackers, though not publicly. White House spokesman Josh Earnest on Thursday declined to comment on any potential suspects.OPM Director Katherine Archuleta told the Senate Homeland Security Committee on Thursday that personnel data of 4.2 million current and former federal employees was compromised in one security breach and that another attack, targeting those applying for security clearances, had affected millions more.Some media have reported that as many as 18 million Americans could have been affected.Clappers comments came a day after the conclusion of three days of high-level talks between China and the United States in Washington at which cybersecurity figured prominently.U.S. Secretary of State John Kerry said on Wednesday there had been no U.S. finger-pointing during those meetings about cybertheft and whether or not it was actioned by government, or whether it was hackers, or individuals the government has the ability to prosecute.Kerry also said, however, the U.S. side had made crystal clear that cybertheft was not acceptable. He said the United States believed there was a need to work with China to develop a code of conduct on state behavior in cyberspace and that China had agreed.Its something that we agreed needs to be addressed and hopefully it can be addressed soon, State Department spokesman John Kirby said on Thursday.White House spokesman Earnest cautioned against guessing at what response the United States might take against those responsible for the attacks. If there is a response, its probably not one we are likely to telegraph in advance, he said.The Journal cited Clapper as saying the U.S. government and American companies would continue to be targets until policymakers addressed the lack of deterrents.Clapper said the absence of a U.S. threat to respond to hacking attacks meant Washington had to put its focus instead on defense, the newspaper reported.China has dismissed as irresponsible and unscientific any suggestion that it was behind the hacking. Chinas top diplomat, State Councillor Yang Jiechi, said after Wednesdays talks that the two countries should work together on cybersecurity.

U.S. lawmakers lay down 'red lines' on Iran nuclear deal

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WASHINGTON (Reuters) -As talks on an Iran nuclear deal enter the final stretch, U.S. lawmakers are sharpening warnings against a weak agreement and laying down red lines that, if crossed, could prompt Congress to trip up a carefully crafted international pact.Several influential lawmakers said they do not want to see any sanctions lifted before Tehran begins complying with a deal, and want a tough verification regime, in which inspectors could visit Iranian facilities anytime and anywhere.They also want Tehran to reveal past military dimensions of its nuclear program, particularly after Secretary of State John Kerry seemed to soften the U.S. stance last week, by saying Iran would not be pressed on this point.I have become more and more concerned with the direction of these negotiations and the potential red lines that may be crossed, said Senator Bob Corker, the Republican chairman of the Senate Foreign Relations Committee.Countering such concerns, officials said Thursday that Kerry had phoned Irans foreign minister to say that Tehran must answer questions about whether its past atomic research was arms-related if it wants a deal.Corker authored a bill giving Congress the right to approve or disapprove of any final agreement that emerges from talks between six major powers and Iran. Kerry travels to Vienna on Friday for the latest round.DEADLINEThe talks are expected to drag past a self-imposed June 30 deadline to end nearly two years of negotiations aimed at restricting Irans nuclear program in return for sanctions relief.But a senior U.S. official said Thursday negotiators could see a way to a very good nuclear agreement.President Barack Obama signed the Corker bill into law last month after the White House failed to persuade enough of his fellow Democrats not to join Republicans in demanding a say.As the deadline nears, lawmakers are under pressure not to support an agreement that gives much ground to Tehran.AIPAC, the influential pro-Israel lobby, has been pushing its concerns that a pact could be fundamentally flawed.J Street, a more moderate pro-Israel group, has launched its own campaign rebutting arguments made by deal opponents.Several other groups are spending millions of dollars on advertising, urging lawmakers to take a hard line.There is tremendous skepticism about this deal ... and some Democrats from heavily pro-Israel communities are going to have a tough time with this, Republican Senator John McCain said.Several prominent American security advisers, including five with ties to Obamas first term, warned in an open letter that a deal risked failing to provide adequate safeguards.Good for them, John Boehner, the Republican Speaker of the House, told a news conference on Thursday. Were about to get stuck with a bad deal, with a bad regime.ISSUE OF INSPECTIONSEven if there are 60 votes in the Senate and a majority in the House to advance a resolution of disapproval, the measure would almost certainly face an Obama veto.To get the two-thirds majority in both houses of Congress to override a veto, deal opponents would need at least 13 Democrats in the Senate and 43 in the House to vote against Obama.That appears unlikely, but significant weaknesses in a final pact would make it less so, lawmakers from both sides said.The Congressional demands for a watertight deal put U.S. negotiators under additional pressure not to give Iran much leeway.Virginia Senator Tim Kaine, a Democrat, said a deal would be a non-starter for him if, for example, Iran refused to allow inspections on military bases.The two biggest issues for people will be the intrusive nature of the inspections and how comprehensive they are, and the timing of sanctions relief, he said.Western officials say inspections of military sites are critical to checking whether Iran is pursuing a clandestine nuclear weapons program.Concerns on Capitol Hill were heightened this week when Iranian Supreme Leader Ayatollah Ali Khamenei ruled out inspections of military sites and said sanctions must be lifted as soon as a deal is reached.It would be better if there were encouraging statements coming out of Tehran, said Representative Eliot Engel, the top Democrat on the House Foreign Affairs Committee.Then we would feel at least that maybe they do want to change their attitudes and maybe we should change some of our attitudes, too, but I havent seen it.Corkers Iran Nuclear Review Act of 2015 passed the Senate by 98-1 and the House by 400-25.TOUGH SELLIt gives the Obama administration until July 9 to transmit a final nuclear deal to Congress, triggering a 30-day period in which the Senate and House can consider a resolution approving it, vote on a resolution of disapproval or have no vote at all.The measure bars Obama from waiving any sanctions on Iran approved by Congress during the review period, plus 22 days if Congress passes a disapproval resolution and Obama vetoes it.If a resolution of disapproval survived a veto, Obama would be barred from waiving Congressional sanctions. Since those account for the vast majority of U.S. sanctions, it could cripple any nuclear deal.The review period doubles to 60 days if Congress gets a deal between July 10 and Sept. 7. If there were no deal by Sept. 7, legislators would seek to pass additional sanctions.Several Democrats said they were confident most of their party would be comfortable approving a deal largely similar to a framework pact announced in April.But they acknowledge any pact will be a tough sell across the aisle.The majority of Republicans are going to vote against anything that has President Obamas signature on it, Democratic Senator Chris Murphy said.

Japan, China to agree on procedures for unexpected military encounters

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TOKYO (Reuters) -Japan and China will next month conclude an agreement to define procedures for communication between their naval vessels and military aircraft during unexpected encounters to reduce the risk of confrontation, a source told Reuters.As Chinas military grows and as Japan looks to expand its Self Defense Force operations beyond home waters to regions such as the South China Sea, encounters between their armed forces are on the rise.The rules for communication will apply to encounters on the high sea and in international airspace, although China also wants to extend the agreement to cover territorial waters too, the Mainichi newspaper reported earlier.We reached agreement on some parts in Beijing on June 19, and believe it is necessary to implement this mechanism quickly, so we will continue talking, Japans Minister of Defense, Gen Nakatani, said at a press briefing on Friday.While Japan considers much of the South China Sea to be international waters, China however claims much of the territory, where it is building a series of man-made islands.A Japanese P3-C patrol plane this week flew over parts of the South China Sea that Beijing claims during a search and rescue exercise with the Philippine military. China criticized the drill as meddling by Tokyo.

Italy rebukes EU leaders as 'time wasters' on migrants plan

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BRUSSELS (Reuters) -Italian Prime Minister Matteo Renzi rebuked fellow EU leaders on Thursday for failing to agree a plan to take in 40,000 asylum-seekers from Italy and Greece, saying they were not worthy of calling themselves Europeans.EU leaders are divided over a growing migrant crisis in the Mediterranean and have largely left Italy and Greece to handle thousands of people fleeing war and poverty in Africa and the Middle East.If you do not agree with the figure of 40,000 (asylum seekers) you do not deserve to call yourself Europeans, Renzi told an EU summit in Brussels. If this is your idea of Europe, you can keep it. Either theres solidarity or dont waste our time, he said, according to a person who attended the meeting.Another official described the debate as controversial. Much of the tension appeared to be about ensuring that the migration plan was voluntary, not mandatory as the European Commission had initially suggested.Stung by deaths this year of almost 2,000 migrants trying to reach Europe by boat, the European Union has promised an emergency response but not national quotas for taking people.According to a draft final summit communique, governments would agree to relocation over two years from Italy and Greece to other member states of 40,000 people needing protection. It said all member states will participate.As EU leaders tackled the issue over dinner, some eastern and central European countries, which are reluctant to take refugees, sought guarantees that the system be temporary and voluntary.We have no consensus on mandatory quotas for migrants, but ... that cannot be an excuse to do nothing, said Donald Tusk, president of the European Council who chairs summits. Solidarity without sacrifice is pure hypocrisy.The criteria to share migrants among member states must be decided by the end of July, the draft communique said. Such factors as the size of a member states economy and population will be considered.The criteria system would replace unpopular proposals for mandatory quotas on each country.The EU will also commit to resettle 20,000 refugees directly from countries such as Syria, Iraq or Afghanistan.EU governments have been divided about boat migrants crossing the Mediterranean. This has strained the EUs commitment to its Schengen agreement on passport-free travel.This week, Austria threatened to reimpose controls on its border with Hungary and Britain called for more security around the French port of Calais. Hungary has called the European Commissions relocation plan absurd, while Spain wants a bigger focus on returning migrants to countries of origin.But many governments agree the system for tackling migration is broken, with a huge burden on countries such as Italy and impoverished Greece.EU leaders agreed to strengthen mechanisms to repatriate migrants who cannot claim asylum in Europe.We need treaties for readmitting people so that traffickers are clear that those they send illegally will be returned home, Spanish Prime Minister Mariano Rajoy told reporters.

Obama, Putin discuss Iran, Islamic State, Ukraine in phone call

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WASHINGTON (Reuters) -Russian President Vladimir Putin phoned U.S. President Barack Obama on Thursday, their first call since February, to discuss Iran nuclear talks, the increasingly dangerous situation in Syria and the need to counter Islamic State militants, the White House said in a statement.The leaders discussed the increasingly dangerous situation in Syria, and underscored the importance of continued P51 unity in ongoing negotiations to prevent Iran from acquiring a nuclear weapon, the White House said.Obama also told Putin that Russia needs to live to up to the terms of a ceasefire deal with Ukraine, including the removal of all Russian troops and equipment from Ukrainian territory, the White House said.

Islamic State attacks Syrian army and Kurds in twin assault

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BEIRUT (Reuters) -Islamic State fighters have launched simultaneous attacks against Syrian government and Kurdish militia forces, moving back onto the offensive after losing ground in recent days to Kurdish-led forces near the capital of their caliphate.Islamic State sought to retake the initiative with incursions into the Kurdish-held town of Kobani at the Turkish border and government-held areas of Hasaka city in the northeast.In a separate offensive in the multi-sided Syrian civil war, an alliance of rebels in the south of the country also launched an attack with the aim of driving government forces from the city of Deraa.The attacks by Islamic State follow a rapid advance by Kurdish-led forces deep into the hardline groups territory, to within 50 km (30 miles) of its de facto capital Raqqa.The dual assaults on government forces in Hasaka and Deraa, both provincial capitals, are a test of Assads resolve to hold out in remote outposts beyond the western part of the country that is seen as the top priority for his survival.The United States and European and Arab allies have been bombing Islamic State since last year to try to defeat a group that a year ago proclaimed a caliphate to rule over all Muslims from territory in Syria and Iraq.Islamic State advanced rapidly last month, seizing cities in Syria and Iraq. The latest Kurdish advance in Syria has shifted the momentum again, but Islamic State fighters have often adopted a tactic of advancing elsewhere when they lose ground.The group said it had seized al-Nashwa district and neighboring areas in the southwest of Hasaka, a city divided into zones of government and Kurdish control. Government forces had withdrawn towards the city center, it said in a statement.Syrian state TV said Islamic State was expelling residents from their homes in al-Nashwa, executing people and detaining them. Many Islamic State fighters had been killed, it said, included a commander identified as a Tunisian.It also said a car bomb had exploded in the southeast of Hasaka.LAST GOVERNMENT FOOTHOLDSThe Syrian Observatory for Human Rights, which tracks the war, said Islamic State had seized two districts from government control.Government-held parts of Hasaka are one of President Bashar al-Assads last footholds in the northeast region bordering Iraq and Turkey, territory mainly run by Kurds since Syrias conflict erupted in 2011.The Islamic State attack on Kobani, also known as Ayn al-Arab, began with at least one car bomb in an area near the border crossing with Turkey, Kurdish officials and the Observatory said. Islamic State fighters were battling Kurdish forces in the town itself.Kobani was the site of one of the biggest battles against Islamic State last year. The Kurdish forces, known as the YPG, drove the Islamic militants back from Kobani with the help of U.S. air strikes, after four months of fighting and siege.YPG spokesman Redur Xelil cited witness accounts and preliminary information that Thursdays attackers had entered from Turkey but the matter was still not clear.He said they entered the town in five cars, flying the flag of the Western-backed Free Syrian Army movement, which has fought alongside the YPG against Islamic State.They opened fire randomly on everyone they found, he told Reuters. The Observatory said the attackers also wore YPG uniforms. He said Kurdish fighters killed 30 of the attackers. Pictures posted on social media showed at least one dead man in uniform who was said to be an Islamic State fighter.The Observatory said least 35 people, most of them civilians, were killed in the attacks, as well as 20 or more Kurdish civilians in a village south of Kobani. A YPG Facebook page said at least 15 Islamic State fighters had been killed.A doctor in the town, Welat Omer, said 15 people had been killed and 70 wounded, many of them seriously. Some had lost limbs and some of the wounded had been taken to Turkey.Around 50 people fled to the Mursitpinar border gate after the attack, seeking to enter Turkey, local witnesses said. Syrian state TV said the attackers had entered Kobani from Turkey - a claim denied by the Turkish government.AIR STRIKESU.S.-led forces carried out air strikes on Thursday against Islamic State in Hasaka and near the town of Tel Abyad, further west along the border with Turkey.A Syrian official, speaking on condition of anonymity because he was not authorized to speak to the media, said Islamic State appeared to be trying to divert enemy forces putting pressure on Raqqa: I believe this is why they moved to Hasaka - because they felt great danger from the situation in Raqqa.The Kurdish forces say they currently have no plan to march on Raqqa city.In Syrias south, rebels launched an assault to capture Deraa, which, if it falls, would be the third provincial capital lost by Assad in the four-year-long war, after Raqqa and Idlib, which is held by another rebel alliance.The Syrian government has lost ground since March in the northwest, the south and the center, where Palmyra fell to Islamic State last month.Assads control is now mainly confined to the major population centers of western Syria, where he has sought to tighten his grip with the help of Lebanons Hezbollah militia, his main allies.An alliance of rebel groups known as the Southern Front, which profess a secular vision for Syria, said its Deraa offensive had begun at dawn. The al Qaeda-linked Nusra Front also has a presence in the south.The violence briefly spilled over into Jordan, where a stray mortar bomb killed a market vendor and wounded several others.If the battle takes time, we are prepared. We have begun the preparatory shelling but we cannot assess the situation right now, said Issam al-Rayyes, spokesman for the Southern Front.Khaled al-Hanous, governor of Deraa province, told state TV the insurgents had launched a real war with intensified shelling with various weapons or artillery on citizens in the neighborhoods of the city and on hospitals, schools and infrastructure.The rebels had not made one meter of progress, he said.

Russia 'playing with fire' with nuclear saber-rattling: Pentagon

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WASHINGTON (Reuters) -Russia is playing with fire with its nuclear saber-rattling and the United States is determined to prevent it from gaining a significant military advantage through violations of the Intermediate Nuclear Forces Treaty, the deputy U.S. defense chief said on Thursday.Deputy Defense Secretary Robert Work, speaking to lawmakers in the House of Representatives, also said modernizing and maintaining U.S. nuclear forces in the coming years would consume up to 7 percent of the defense budget, up from the current 3 to 4 percent, and could squeeze other programs unless additional funding was approved.Speaking to the House Armed Services Committee, Work said Moscows effort to use its nuclear forces to intimidate its neighbors had failed, actually bringing NATO allies closer. He also criticized what he called Russias escalate to de-escalate strategy.Anyone who thinks they can control escalation through the use of nuclear weapons is literally playing with fire, Work said. Escalation is escalation, and nuclear use would be the ultimate escalation.The deputy defense chief said Russia continued to violate the Intermediate Nuclear Forces treaty, which bans ballistic and cruise missiles with a range of 500 to 5,500 kilometers (315 to 3,450 miles).Work said the Pentagon was developing options for President Barack Obama to consider to respond to the treaty violations and would not let Russia gain significant military advantage through INF violations.The United States is about to embark on a costly long-term effort to modernize its aging nuclear force, including weapons, submarines, bombers and ballistic missiles. Estimates of the cost have ranged from $355 billion over a decade to about $1 trillion over 30 years.The modernization comes as the Pentagon struggles with tight budgets and the need for other expensive weapons like the F-35 Joint Strike Fighter and new warships.Work said the nuclear force modernization was expected to cost an average $18 billion per year from 2021 to 2035 in constant 2016 dollars.The Pentagons annual base budget has been about $500 billion for several years.Without additional funding dedicated to strategic forces modernization, sustaining this level of spending will require very, very hard choices and will impact the other parts of the defense portfolio, Work said.Arms control groups say the U.S. nuclear force is larger than needed to accomplish the presidents strategic aims, and the Pentagon could save money by prudently trimming the size of the nuclear triad and other steps.

Golf: Watson fires 62 to grab two-shot Travelers lead

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CROMWELL (AFP) - Two-time Masters champion Bubba Watson fired an eight-under par 62 Thursday to seize a two-stroke lead after the opening round of the US PGA Travelers Championship.The 36-year-old American fired nine birdies in all, including four on the last five holes, the final one coming on 18 after a 139-yard second shot that bounced into the flagstick and stopped four inches beyond the cup.It was about playing steady, Watson said.It was about being consistent. It was about hitting the driver somewhat in play, hitting the wedges somewhat close and then making the putts and thats what I did.Watson seeks his eighth career PGA triumph on the same TPC River Highlands course where he won his first in 2010 and produced two other top-10 showings. It would be his second title of the 2014-15 season, having won the World Golf Championships HSBC Champions event in China last November.Watson matched the low round of his career to grab the advantage with fellow Americans Keegan Bradley, Harris English, Jason Gore and Brian Stuard plus South Korean Noh Seung-Yul sharing second on 64.Birdies at the third, par-5 sixth, seven and ninth holes left Watson four-under at the turn. He birdied the 12th, 14th and 15th before taking his lone bogey at 16, but answered by closing with his third set of back-to-back birdies of the day.They were all good, Watson said.Watson took advantage of benign conditions compared to last weeks difficult terrain at the US Open at Chambers Bay, where Jordan Spieth added his second major title after collecting the Masters green jacket in April.Coming off last week, you can score around here, you can hit some good shots, Watson said. You still have to play golf but its more relaxed and you still feel like you can score around here.Watson playing partner Zach Johnson fired a 65 to share seventh along with fellow Americans Scott Langley, Chris Stroud, Robert Garrigus, Tom Gillis, Scott Brown and Will MacKenzie plus Swedens Carl Pettersson.Watson has turned only one of four prior 18-hole leads into a victory, that coming at 2011 in New Orleans. This was his first lead after the opening round since last years Phoenix Open.First-round leaders have won the Travelers four times, the most recent being American Kenny Perry in 2009.Noh birdied his first four holes on the way to his lowest round since a 62 in the first round of the 2012 Deutsche Bank Championship. The Korean missed three cuts and withdrew from a title defense in New Orleans before sharing third at Memphis earlier this month for his lone top-10 effort of the season.

Tennis: Wozniacki storms into Eastbourne semi-finals

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EASTBOURNE (AFP) - Caroline Wozniacki defeated Germanys Andrea Petkovic 7-5, 6-1 on Thursday to set up an Eastbourne International semi-final against Swiss teenager Belinda Bencic.Second seed Wozniacki is bidding for a second trophy at Devonshire Park after winning the pre-Wimbledon tune-up in 2009.The Dane was tested slightly in the opening set but lifted her game in the second to sprint to victory in under 90 minutes, with 10th seed Petkovic broken seven times.It was a tough match, she gets a lot of balls back, said former number one Wozniacki. I returned well today, which was the key to the win. Ive been playing well all week and Im happy with my form. I just want to carry it over into the semis.Bencic took just under two hours to eliminate the last British challenge of the home week.The number 31, who played a grass-court final this month in the Netherlands, defeated Australian-born Briton Johanna Konta 2-6, 6-0, 6-3.World number 146 Konta came in on a wildcard and turned in the best week of her career as she won three consecutive matches. The last to do that on the English south coast was Jo Durie 32 years ago.Two of Kontas wins came over WTA number four Ekaterina Makarova and number 20 Garbine Muguruza of Spain.Bencic lost the opening set but changed tactics to get back into the contest.It was a very difficult match, shes a good player and really made me work, said Bencic, advised by the mother of former Swiss prodigy Martina Hingis. We had some great rallies. I didnt play badly in the first set, but I missed on some key points, said Bencic. In the second and third I played more aggressively and got in more first serves.Of course I knew that the crowd was on her side but thanks to the fans who cheered for me. I was fighting on very point.Bencic survived six aces from Konta and saved 10 of a dozen break points against her serve.In the other half of the draw, former champion Agnieszka Radwanska advanced 6-2, 6-2 over Bulgarian Tsvetana Pironkova.The 2008 champion from Poland, who went out in the first round in three successive editions from 2012-2014, needed just 65 minutes to advance from four breaks of serve.World number 13 Radwanska, seeded ninth, will on Friday face off against Sloane Stephens after the American advanced without hitting a shot when Russian lucky loser opponent Daria Gavrilova withdrew before their quarter-final with an abdominal strain.Radwanska improved her Eastbourne record to 12-7 as she beat Pironkova for the ninth time in 11 meetings, following up her Nottingham semi-final on grass earlier in June.

Athletics: Bolt withdraws from 100m at Jamaican trials

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KINGSTON (AFP) - Double sprint world-record holder Usain Bolt withdrew from the 100 metres Thursday at the Jamaican Athletics Championships, bypassing a meet he was intending to run only after disappointing early season times.The reigning world and Olympic 100m and 200m champion made a last-minute entry to the four-day meet last week but pulled out on the opening morning of the event without giving a reason for his withdrawal.Bolt is next set to compete at the Diamond League meet in Paris on July 6.But there have been concerns over his competitive form, especially after he ran the 200m in 20.29 seconds two weeks ago in a Diamond League meet at New York, where he hinted he would consider running in the Kingston meet to help him find top form.Bolt did not have to compete at the trials for making Jamaicas team for the world championships to become eligible to run at the global showdown meet in August at Beijing. He was already assured of a spot in that lineup by winning the 100m and 200m world titles in 2013 at Moscow, just as he took gold in both at the 2012 London Olympics and at the Beijing Birds Nest in the 2008 Games.But Bolt has yet to crack 10 seconds in the 100m or 20 seconds in the 200m this season. It will be Asafa Powell, who owns a season-best of 9.84 seconds, that will be favored in the 100m final Friday night.Bolt has said he plans to compete at next years Rio de Janeiro Olympics, where he hopes to become the first man to win three consecutive Olympic sprint doubles, and conclude his career in 2017.

Motorcycling: Record-breaking Pedrosa puts Honda in charge

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ASSEN (AFP) - Dani Pedrosa set a new lap record to edge out Honda teammate and defending world champion Marc Marquez on the opening day of practice for Saturdays Dutch Grand Prix.Pedrosa shrugged off temperatures close to 40 degrees to clock 1min 33.450sec to beat Marquezs previous lap record of 1min 33.462 set last year at a track which has been been an ever-present in the world championship since 1949.Current world championship leader Valentino Rossi on a Yamaha was third fastest, 0.202sec off Pedrosas pace.Rossi is bidding this weekend to win at Assen for the seventh time and break the tie for six he currently holds with legendary Italian compatriot Giacomo Agostini.It has been a good Thursday. Im happy because we worked well during the sessions and we found some interesting solutions, said Rossi.The first priority was to find out which chassis we prefer, the new one or the standard one. I feel good with the new one.Marquez, who is down in fifth spot in the standings, 69 points behind Rossi, won in the rain in the Netherlands last year and endured a dramatic session on Thursday.In the morning, he fell off his machine after just three minutes of action while, in the afternoon, he came close to contact with Rossi.Spains Jorge Lorenzo, just a point behind Yamaha teammate Rossi in the title race after winning the last four races, was sixth on Thursday.We dont have the softer edge tyre that Bridgestone usually brings. This certainly didnt help me to feel at my best in the corners, but this is the same for everyone, said Lorenzo.Despite Pedrosa topping the time charts, there is less than one second separating the top 12 riders ahead of Fridays qualifying session.

Posted by IMRAN ALI SOOMRO (DARVESH) at 6/26/2015 07:40:00 AM

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