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Snowden can stay in Russia: Putin

Written By Unknown on Senin, 01 Juli 2013 | 23.47

US whistleblower Edward Snowden may have asylum in Russia as long as he stops releasing information about US intelligence programs, Russian President Vladimir Putin says.

"Russia never hands over anybody anywhere and has no intention to do so," Putin told a news conference in Moscow.

"If he (Snowden) wants to remain here there is one condition - he should stop his work aimed at inflicting damage on our American partners no matter how strange this may sound coming from me."


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Man hit by car dies in Melbourne hospital

A 28-YEAR-OLD man has died after getting into an argument in north Melbourne before being knocked over by a car.

Police believed the two men involved in the argument knew each other, and that events escalated when one drove into the other with his car.

The 28-year-old man was taken to the Royal Melbourne Hospital, where he later died from his injuries.

The 47-year-old driver is being questioned by police.

A report is being prepared for the coroner.

AAP tjm/


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Citigroup to pay $US968m to Fannie Mae

CITIGROUP has agreed to pay $US968 million ($A1.07 billion) to Fannie Mae to resolve potential future repurchase claims on residential mortgage loans originated between 2000 and 2012.

A sizable group of the loans were originated during the US housing boom. Mortgage giants Fannie Mae and Freddie Mac bought mortgage loans from banks like Citigroup in the run-up to the financial crisis. Fannie and Freddie teetered as the loans went bad, and they were effectively nationalised in 2008. The government has spent billions to keep Fannie and Freddie afloat.

Fannie and Freddie have since said that the banks misled them by not telling them the true condition of the mortgages they were buying. For several years, they have been demanding that the banks repurchase the mortgages.

The agreement between Citigroup and Fannie Mae covers claims for breaches of representations and warranties on 3.7 million loans. The deal doesn't release Citigroup's liability for servicing and other ongoing contractual obligations for the loans.

Citigroup said that it is also still liable for a group of less than 12,000 loans originated between 2000 and 2012, including loans sold with a performance guarantee or under special credit enhancement programs.

The bank anticipates a $US245 million residential mortgage reserve for its second quarter, consistent with reserves from recent quarters. Citigroup will report its quarterly results on July 15.

The New York company said it has adequate reserves for loans not covered by the agreement.

Citigroup's stock added $US1.05, or 2.2 per cent, to $US49.02 in morning trading. The shares have traded in a 52-week range of $US24.91 to $US53.56.

In January, Bank of America reached an $US11.6 billion settlement with Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash.


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PM asked to consider low income earners

LABOR is being urged to reconsider low income earners this week.

Prime Minister Kevin Rudd has two days of meetings ahead to lay the groundwork for his government before heading to Indonesia for talks on asylum seekers, security and trade with President Susilo Bambang Yudhoyono.

Mr Rudd says he has "fresh policy ideas" but would not flag them until they go through cabinet.

One idea he is being urged to consider on Twitter is raising the Newstart allowance, after an ABC Four Corners program highlighted the struggle to live on $35 a day.


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Falling $A makes RBA rate cut unlikely

THE Reserve Bank of Australia is unlikely to cut interest rates on Tuesday as the falling Australian dollar does the central bank's heavy lifting.

All but one of 13 economists surveyed by AAP are forecasting the cash rate to remain at its record low of 2.75 per cent.

The RBA last cut the cash rate in May, when the Australian dollar was still above parity with the greenback.

At the time the RBA said low inflation had allowed it to make the reduction, and cited the high Australian dollar as one of the reasons why conditions remained tough for business.

But the Australian dollar has since lost more than 10 US cents.

It has hovered between 91 and 93 US cents since US Federal Reserve chairman Ben Bernanke last month signalled a possible wind-back of the US central bank's economic stimulus measures.

CommSec economist Savanth Sebastian said the RBA would likely leave the cash rate on hold, and wait until June quarter inflation figures were released on July 24 before a likely rate cut in August.

The pull-back in mining investment is occurring faster than expected and non-mining sectors need to be inspired to invest and fill the spare capacity in the economy, he said.

"I think, certainly, the reserve bank would want to see further improvement in terms of stimulatory measures and I think another rate cut in August may just do that for them," Mr Sebastian said.


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Obama meets family of ailing hero Mandela

Written By Unknown on Sabtu, 29 Juni 2013 | 23.46

US President Barack Obama has met the family of his "inspiration" Nelson Mandela, but was unable to visit the anti-apartheid legend who remains critically ill in hospital.

Despite tentative signs of an improvement in the condition of the father of multi-racial South Africa, Obama decided not to visit Mandela during his visit for fear of disturbing his "peace and comfort".

Instead, Obama met privately with some relatives of the revered leader including two daughters and several grandchildren and spoke by telephone with Mandela's wife Graca Machel.

"I expressed my hope that Madiba draws peace and comfort from the time that he is spending with loved ones, and also expressed my heartfelt support for the entire family as they work through this difficult time," Obama said, using Mandela's clan name.

Machel said she had "drawn strength from the support" offered by the Obama family.

"I am humbled by their comfort and messages of strength and inspiration which I have already conveyed to Madiba."

Speaking earlier in Pretoria, where 94-year-old Mandela lay fighting for his life in a nearby hospital, Obama praised the "moral courage" of South Africa's first black president.

"The struggle here against apartheid, for freedom, Madiba's moral courage, his country's historic transition to a free and democratic nation, has been a personal inspiration to me. It has been an inspiration to the world," Obama said after talks with President Jacob Zuma.

"The outpouring of love that we've seen in recent days shows that the triumph of Nelson Mandela and this nation speaks to something very deep in the human spirit - the yearning for justice and dignity that transcends boundaries of race and class and faith and country."

Obama said before arriving he did not need "a photo-op" with Mandela, whom he meet briefly in 2005, and the White House on Saturday ruled out a meeting between the two men.

"Out of deference to Nelson Mandela's peace and comfort and the family's wishes, they will not be visiting the hospital," the official said.

Obama's three-nation tour is aimed at changing perceptions that he has neglected Africa since his election in 2008, while also countering China's growing economic influence in the resource-rich continent.

But it has been overshadowed by the illness of his fellow Nobel peace laureate, who has been in intensive care for more than three weeks.

Zuma said Mandela remained in "critical but stable" condition, expressing hope that he would improve.

Welcoming the US president to South Africa on the second leg of his tour, he said Mandela and Obama were "bound by history" as the first black leaders of their respective nations.

"You both carry the dreams of millions of people in Africa," Zuma said.

But the US leader was not greeted so warmly by all South Africans. Riot police fired stun grenades at anti-Obama protesters in the township of Soweto, once a flashpoint in the anti-apartheid struggle.

A visit by Obama on Sunday to Mandela's former jail cell on Robben Island, off Cape Town in particular is expected to be laden with symbolism.

Obama will then visit former Archbishop Desmond Tutu's youth foundation HIV centre before delivering the central speech of his African tour at the University of Cape Town.

Mandela has been hospitalised four times since December.

The man once branded a terrorist by the United States and Britain won South Africa's first fully democratic elections in 1994, forging a path of racial reconciliation during his single term as president, before taking up a new role as a roving elder statesman and leading AIDS campaigner.


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Qld man killed in gunpowder blast

A MAN has been killed and two other injured after an explosion on a far north Queensland rural property in far north Queensland.

Police say the explosion occurred about 9.40pm (AEST) on Saturday at Arriga, west of Mareeba.

It's believed the men were disposing of expired gunpowder, the ABC online reports.

A 58-year-old man died due to the blast, while a 58-year-old man and a 33-year-old man were injured and taken to hospital.

"Initial information suggests the cause of the explosion is not suspicious, but related to the burn off of a substance on the property," Queensland police said in a statement.


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