Dollar edges off seven-week low, China production data in focus

By Dominic Lau

TOKYO (Reuters) - The dollar steadied above seven-week lows on Friday but remained vulnerable to more losses if Chinese industrial production data adds to a growing view Beijing was taming its economic slowdown, while Japanese shares are set for a heavy weekly fall.

Copper retreated from a near two-month high after unexpected strength in trade data from top buyer China on Thursday raised hopes of a pick-up in demand.

The dollar <.dxy> inched up 0.1 percent against a basket of major currencies, having fallen for five days in a row -- its longest such streak since mid-June -- on uncertainty about when the U.S. Federal Reserve would start winding back its stimulus.

If Chinese industrial production data on Friday further suggest stabilization in the world's second-largest economy after a slowdown that has run for more than two years, risk-seeking investors would be more confident about switching out of the dollar.

China's annual consumer prices in July rose 2.7 percent, unchanged from the previous month and broadly in line with market expectations.

"The investment climate isn't bad, as U.S. and Chinese data show improvement," said IM Investment & Securities analyst Kang Hyun-gie. "A batch of new Chinese data coming out later will certainly function as a catalyst for the market today."

The Australian dollar, which is seen as a proxy for Chinese growth as China imports a lot of its raw materials and products, was up 0.2 percent at $0.9120 on the day. It pulled further away from a three-year trough touched earlier this week ahead of its central bank's rate cut to a record low of 2.5 percent.

The Reserve Bank of Australia on Friday trimmed its near-term economic outlook, projecting a sub par performance out to the middle of next year as a long boom in mining investment cools faster than first thought.

NIKKEI'S WEEKLY LOSS

With the dollar steady at 96.65 yen, Tokyo's Nikkei share average <.n225> pared early gains, up 0.5 percent. Still the Nikkei hit a six-week low on Thursday and is down more than 5 percent this week as the yen has strengthened.

"Although the dollar rebounded against the yen yesterday, it doesn't feel like it has bottomed out. The chart looks still very weak and I suspect there's a chance the dollar will test 95 yen in the near future," a trader at a Japanese bank said.

The euro hovered near a seven-week high versus the dollar at $1.33830.

Asian shares as measured by MSCI Asia-Pacific ex-Japan <.miapj0000pus> were steady after gaining nearly 1 percent on Thursday.

Japanese shares' 12-month forward price-to-earnings ratio has fallen to 13.8 from a two-month high of 14.8 hit last week, according to Thomson Reuters Datastream.

Valuations for the MSCI Asian gauge have also eased to 11.4 from a two-month high of 11.5 reached last week.

In the commodities markets, copper prices fell 0.3 percent to around $7,165 a ton after climbing 2.6 percent to a near two-month high after the Chinese trade data.

Gold added 0.2 percent, extending Thursday's 1.9 percent rise. Brent crude prices advanced 0.4 percent to near $107 a barrel and was on track to end a five-day run of losses - its longest such streak since mid-April.

(Additional reporting by Jungmin Jang in SEOUL and Hideyuki Sano in TOKYO; Editing by Jacqueline Wong)

Source: http://news.yahoo.com/dollar-edges-off-seven-week-low-china-data-014713667.html

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Penn State gets report on federal Sandusky probe

HARRISBURG, Pa. (AP) ? Penn State has received a preliminary report from the federal government regarding whether its handling of the Jerry Sandusky child molestation scandal complied with campus crime reporting requirements, the university said Monday.

The school said that neither it nor the U.S. Department of Education was permitted under the law to release information about the report at this time, but that details will be made public after the federal agency finishes its review and makes a final determination.

Pennsylvania prosecutors have alleged that high-ranking university officials failed to properly report suspected abuse of children by Sandusky, a retired assistant football coach who was convicted a year ago of 45 counts of child sexual abuse.

Penn State said school officials have given federal reviewers access to the records and information they have requested to see whether the school complied with a 1990 U.S. law called the Clery Act. The law, named for Jeanne Clery, a 19-year-old Lehigh University freshman who was raped and killed in a campus residence hall in 1986, requires universities to publish annual reports and maintain a daily crime log.

Violations of the law can result in a school losing its authority to offer federal student aid, and although that has never happened, the nature of the allegations against Penn State was unprecedented and had many of the school's strongest allies concerned. The Education Department has leveled fines, however, of up to $27,500 per violation.

Hundreds of millions of dollars in student aid could be at stake. In the year that ended June 20, 2012, Penn State benefited from $577 million in direct federal loans, $85 million in Pell and Teach grants and $16 million in work-study and Perkins loans.

"The department can impose fairly substantial fines but they have never elected to take student financial aid away from current students because the institution failed to act in the past. I think that's very unlikely," said Terry Hartle, a top official with colleges' lobbying operation at the American Council on Education.

And don't expect clarity by the time students return to campus this fall, he added. The Education Department took more than four years to complete its report after the Virginia Tech shooting and this one will similarly be decided slowly and behind the scenes.

"By definition, this process is expected to be confidential. It's in everybody's interest that this is the case," Hartle said. "Neither institution wants this process to be taking place in public."

The university said it has hired a full-time employee to help it comply with the Clery Act.

The contents of the Education Department's report were closely held. The law that governs the review process prescribes secrecy ahead of the report's final draft. Given the report's preliminary nature ? and the university's potential to reshape it ? no one was rushing to share the initial findings.

Lawmakers on Capitol Hill were expected to heavily pressure the department once the findings become public. Given the school's high profile in Pennsylvania and the potential impact of the Education Department's report, lawmakers were expected to consult with officials on what penalties could be prescribed for the university.

Sandusky is serving a 30- to 60-year prison sentence and maintains his innocence.

A preliminary hearing is scheduled for this month for the three former Penn State administrators accused of a criminal conspiracy, allegedly covering up complaints about Sandusky mistreating boys. Former president Graham Spanier, retired athletic director Tim Curley and retired vice president Gary Schultz all deny the allegations.

___

Elliott reported from Washington.

Source: http://news.yahoo.com/penn-state-gets-report-federal-sandusky-probe-152326471.html

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Can I start fresh my iPhone with the same Apple ID but not restoring?

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Access Hollywood section

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Source: http://www.today.com/id/7358550/ns/today-entertainment/

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TNA BaseBrawl Results (7/13): Washington, PA

TNA BaseBrawl
7/13 Washington, PA

-According to reports, there were about 1,200 tickets sold in total.?

(1) Chris Sabin def. Austin Aries

(2) Gail Kim def. ODB

(3) Joseph Park def. DOC

(4) TNA Tag Team Championship Match
Gunner & James Storm (c) def. Wes Briscoe & Garrett Bischoff

-During the intermission, the Hebners did their normal "You Screwed Bret" gimmick, and were signing autographs near the merch table.

(5) Jeff Hardy def. Devon

(6) Kurt Angle def. AJ Styles

Source: http://feedproxy.google.com/~r/Wrestlezonecom/~3/yrMTFFuLRLQ/275163-tna-basebrawl-results-713-washington-pa

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Unclear return

AP

There can be no doubt that Trayvon Martin?s death was tragic and unnecessary. ?George Zimmerman should not have presumed Trayvon Martin was up to no good. ?George Zimmerman should not have followed Trayvon Martin. ?And George Zimmerman should not have engaged Trayvon Martin in the exchange that, as a jury of six women found on Saturday night, reasonable doubt existed as to whether Trayvon Martin was killed by a man who was acting in self defense.

But our legal system requires prosecutors to prove all elements of a crime beyond a reasonable doubt. ?In this specific case, prosecutors had to prove beyond a reasonable doubt that George Zimmerman was not acting in self defense.

The sharp conflict in testimony from multiple witnesses regarding whether the 911 call made by a neighbor in the moments before the fatal gunshot contained audible cries for help from Trayvon Martin or from George Zimmerman created more than enough reasonable doubt that Zimmerman was the one wailing and moaning for assistance ? which made it impossible to prove beyond a reasonable doubt that Zimmerman was not acting in self defense.

For non-lawyers and those who were not watching the trial carefully and thus not realizing what prosecutors could and couldn?t prove, it?s a confusing and frustrating result. ?In the sports world, the confusion and frustration has emerged via various comments made on social media.

Deadspin has compiled plenty of tweets, from the NFL and elsewhere. ?Some are highlighted below.

Falcons receiver Roddy White, who rarely bites his tongue, sounded off loudly on Twitter. ??F?king Zimmerman got away with murder today wow what kind of world do we live in,? White said. ??All them jurors should go home tonight and kill themselves for letting a grown man get away with killing a kid.?

Marcus Vick, the brother of Eagles quarterback Mike Vick, continued a theme he began during the prosecution?s closing argument. ??Like I said before, a dogs life mean more then a human of color,? Marcus Vick said. ??My people?s did 2 years over some bullshit when this dude took a human life. ?Y?all MF?s sick. . . . ?Zimmerman u peace of DOG shit if I ever seen u I would run up n let u beat my ass then I?ll pop u right between the eyes u cricket Bitch.?

Even Giants receiver Victor Cruz, who isn?t known for saying or doing outlandish things, offered up a chilling prediction for George Zimmerman?s future, via Deadspin: ??Zimmerman doesn?t last a year before the hood catches up with him.?

Bengals linebacker James Harrison made a very strong point that gets to the core of the case. ??Think I?ll go pick a fight and get my ass kicked then pull my gun and kill somebody and see if I can get away,? Harrison tweeted.

Ravens receiver Torrey Smith, who lost a brother last year under far different but no less tragic circumstances, realizes that eye-for-an-eye revenge shouldn?t happen. ??Also as mad as a lot of people are over the verdict?trying to take out Zimmerman isn?t the answer neither,? Smith said.

The answer should have been for prosecutors to select charges that prosecutors were extremely confident they could prove beyond a reasonable doubt. ?By swinging the bat for a second-degree murder conviction, the Plan B effort to convict Zimmerman of voluntary manslaughter and put him away for 10-to-30 years became muddled. ?If the prosecutors had chosen manslaughter and only manslaughter charges, perhaps the case would have been easier to piece together and present. ?(Even then, it would have been hard to prove beyond a reasonable doubt that Zimmerman was not acting in self defense at the moment the shot was fired.)

Perhaps, then, prosecutors should have done what prosecutors in St. Augustine recently did in response to a claim that Jaguars running back Maurice Jones-Drew punched a bouncer at a club. ?There, prosecutors honestly concluded that there wasn?t enough evidence to prove guilt beyond a reasonable doubt, so charges weren?t pursued.

A different form of justice would have still been available for Trayvon Martin, and justice can still be had for him. ?Trayvon Martin?s family can and should sue Zimmerman for negligently and/or recklessly provoking the exchange that became the fight in which Zimmerman apparently defended himself with deadly force. ?Like O.J. Simpson, who was acquitted of double murder despite overwhelming evidence of guilt, Zimmerman will have to testify in a civil case, both at deposition and at trial. ?Seeing him forced to answer tough questions from a zealous lawyer under oath could help Trayvon Martin?s family obtain the peace they hoped Saturday?s verdict would bring. ?And Zimmerman could end up being responsible for a crippling verdict, with any significant money he ever earns for the rest of his life going to Trayvon Martin?s family.

The money will mean nothing to Trayvon Martin?s family. ?Knowing that they can continue to chase Zimmerman for more and more money to satisfy the verdict over the coming decades could mean a lot.

It may not be the desired form of ?justice, but justice can indeed be had, under a far lower legal standard than the one required to take away an American citizen?s liberty. ?And while the evidence presented over the past few weeks at trial showed plenty of reasonable doubt regarding criminal charges of murder and manslaughter, the evidence also indicates that the Martin family could easily win a lawsuit against Zimmerman for at least negligently provoking the fight that resulted in Trayvon Martin?s death.

Here?s hoping they pursue it quickly, since George Zimmerman definitely should be accountable at least financially for choosing to pursue Trayon Martin and to provoke the fight that claimed his life.

Source: http://profootballtalk.nbcsports.com/2013/07/14/report-redskins-havent-set-date-to-determine-rgiiis-status-for-camp/related/

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On Hillary, a $200,000 speech and the power of saying nothing at all (Washington Post)

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