1 of 2. A 25-year-old female loggerhead turtle named Yu swims after receiving her 27th pair of prosthetic flippers at the Suma Aqualife Park in Kobe, western Japan February 11, 2013.

KOBE, Japan | Fri Feb 15, 2013 7:12am EST

KOBE, Japan (Reuters) - Life looked grim for Yu, a loggerhead turtle, when she washed up in a Japanese fishing net five years ago, her front flippers shredded after a brutal encounter with a shark.

Now keepers at an aquarium in the western Japanese city of Kobe are looking for a high-tech solution that will allow the 25-year-old turtle to swim normally again after years of labor and 27 models of prosthetic fins behind them without achieving their goal.

Yu, weighing 103 kg (227 pounds) and 82 cm (32 inches) long, first came to the attention of keepers at the Suma Aqualife Park in Kobe after she was rushed there from a port on the southern island of Shikoku in 2008.

"She was in a really bad way. More than half her fins were gone and she was bleeding, her body covered with shark bites," said Naoki Kamezaki, the park's director general.

After nursing the loggerhead - an endangered species - back to health, keepers enlisted the help of researchers and a local prosthetics-maker to get her swimming again.

Early versions of prosthetic flippers caused her pain or fell off quickly, and with money short, Kamezaki said he sometimes felt like packing it in.

"There have been times I wanted to give up and just fix her up the best we can and throw her back in," he told Reuters. "Then if luck's on her side she'll be fine, if not, she'll get eaten and that's just life. The way of nature, I suppose."

The latest version - made of rubber and fixed together with a material used in diving wetsuits - was unveiled on February 11 and proclaimed a success, with Yu swimming smoothly around her tank.

But on Friday, one flipper slipped out as soon as she hit the water, forcing keepers back to the laboratory again.

Though Kamezaki admits that it's unlikely Yu will ever live a normal turtle life, he still has hopes.

"My dream for her is that one day she can use her prosthetic fins to swim to the surface, walk about, and dig a proper hole to lay her eggs in," Kamezaki said.

"When her children hatch, well, I just feel that would make all the trauma in her life worthwhile."

(Reporting by Ruairidh Villar, writing by Elaine Lies, editing by Paul Casciato)

View the original article here

1 of 2. A 25-year-old female loggerhead turtle named Yu swims after receiving her 27th pair of prosthetic flippers at the Suma Aqualife Park in Kobe, western Japan February 11, 2013.

KOBE, Japan | Fri Feb 15, 2013 7:12am EST

KOBE, Japan (Reuters) - Life looked grim for Yu, a loggerhead turtle, when she washed up in a Japanese fishing net five years ago, her front flippers shredded after a brutal encounter with a shark.

Now keepers at an aquarium in the western Japanese city of Kobe are looking for a high-tech solution that will allow the 25-year-old turtle to swim normally again after years of labor and 27 models of prosthetic fins behind them without achieving their goal.

Yu, weighing 103 kg (227 pounds) and 82 cm (32 inches) long, first came to the attention of keepers at the Suma Aqualife Park in Kobe after she was rushed there from a port on the southern island of Shikoku in 2008.

"She was in a really bad way. More than half her fins were gone and she was bleeding, her body covered with shark bites," said Naoki Kamezaki, the park's director general.

After nursing the loggerhead - an endangered species - back to health, keepers enlisted the help of researchers and a local prosthetics-maker to get her swimming again.

Early versions of prosthetic flippers caused her pain or fell off quickly, and with money short, Kamezaki said he sometimes felt like packing it in.

"There have been times I wanted to give up and just fix her up the best we can and throw her back in," he told Reuters. "Then if luck's on her side she'll be fine, if not, she'll get eaten and that's just life. The way of nature, I suppose."

The latest version - made of rubber and fixed together with a material used in diving wetsuits - was unveiled on February 11 and proclaimed a success, with Yu swimming smoothly around her tank.

But on Friday, one flipper slipped out as soon as she hit the water, forcing keepers back to the laboratory again.

Though Kamezaki admits that it's unlikely Yu will ever live a normal turtle life, he still has hopes.

"My dream for her is that one day she can use her prosthetic fins to swim to the surface, walk about, and dig a proper hole to lay her eggs in," Kamezaki said.

"When her children hatch, well, I just feel that would make all the trauma in her life worthwhile."

(Reporting by Ruairidh Villar, writing by Elaine Lies, editing by Paul Casciato)

View the original article here

U.S. President Barack Obama delivers remarks next to Vice President Joe Biden (L) after the House of Representatives acted on legislation intended to avoid the ''fiscal cliff,'' at the White House in Washington January 1, 2013.

WASHINGTON | Thu Jan 31, 2013 3:08am EST

WASHINGTON (Reuters) - Big automatic cuts in federal spending are fast approaching again, alarming the defense sector but generating little activity in Congress to avoid them.

The cuts, known as a "sequestration," were postponed for two months as part of the legislation that ended the standoff over the "fiscal cliff" on January 1.

But the sense of crisis that accompanied the thought of across-the-board reductions then has all but vanished, replaced by a widespread sense of inevitability.

"I think we're going to have" the cuts "for some period of time, and I think the squeals from constituents will compel some compromise that will emerge in the second half of March," said Steve Bell, economic policy director at the Bipartisan Policy Center and a former Republican House Budget Committee staff director.

The defense industry's concern stems from the fact that half of the $85 billion in spending reductions will come from the budget of the Department of Defense, with the other half hitting a wide array of other government programs.

Outgoing Defense Secretary Leon Panetta as well as his designated successor, Chuck Hagel, have warned that the cuts will impair military readiness.

Congress' lack of urgency as it hurtles toward the launch of spending reductions on March 1 may be affected by Wednesday's news that the U.S. economy contracted in the fourth quarter.

The GDP report showed government spending tumbled at a 6.6 percent rate, with defense outlays plunging at a 22.2 percent pace, the largest drop since the third quarter of 1972.

But failure to find replacement savings by the March 1 deadline is not expected to spark a financial crisis because the cuts, split evenly between military and domestic programs, would start to bite gradually.

Unlike the "fiscal cliff" cuts, these are not accompanied by the threat of massive tax hikes, ultimately imposed only on the wealthiest taxpayers as a result of the legislation that ended the fiscal cliff standoff.

'DEVASTATING'

Worry runs deep through the defense sector, from weapons maker Northrop Grumman Corp to President Barack Obama's nominee for defense secretary, Hagel. They are calling on lawmakers to find a solution.

Hagel said the cuts would be "devastating" to the Pentagon.

"It would harm military readiness and disrupt each and every investment program," he said in written answers to senators' questions before a confirmation hearing on Thursday. "I urge Congress to eliminate the sequester threat permanently and pass a balanced deficit reduction plan."

While there are no public signs of negotiations between Republicans and Democrats to avert the cuts, the blame game is well under way.

Republican House of Representatives Budget Committee Chairman Paul Ryan said earlier this week he believed the automatic cuts "will probably happen" because Democrats were not willing to accept further cuts to domestic programs to shield military spending.

Top Senate Democrats have put the onus on House Republicans, saying they are unwilling to accept higher tax revenues as part of a balanced approach to replacing the cuts.

Another factor is at work in the House - the increasing influence of deficit hawks who believe the military should shoulder more of the deficit reduction burden. Traditionally, Republicans, including Ryan, last year's Republican vice presidential nominee, have tried to protect military programs.

"The momentum has shifted to those in the caucus who believe that the only savings we're ever going to get are going to be the sequester savings," said Bell.

Those fiscal conservatives believe Obama will not negotiate with them or agree to any significant cuts in social programs.

He added that it was possible that in the absence of a deal, Congress could provide some legislative language that gives domestic agencies and others some flexibility in making their cuts, rather than accept them in their current, across-the-board form.

Some Democrats are voicing concern the cuts could do serious economic damage.

"I think there should be a sense of urgency, because ... we're looking at an economy struggling to recover and the number of people who we want to have jobs who are still unemployed," said Democratic Senator Jean Shaheen of New Hampshire.

"A failure to take action on what we know is going to have a significant impact on that is simply unacceptable," said Shaheen, a member of the Senate Armed Services and Appropriations committees.

Northrop Grumman, which builds electronics and unmanned surveillance planes, warned that profits this year would fall sharply due to the increasing pressure on the defense budget.

"Our nation needs a balanced, strategic approach to our fiscal challenges ... not blind, indiscriminate budget cutting" Northrop Grumman Chief Executive Wes Bush told an earnings conference call.

LAYOFFS DETAILED

The Pentagon has begun to detail its cost-cutting plans in workforce and regional terms. It has enacted a freeze in civilian hiring, a move that hits employment for veterans since 44 percent of civilian defense employees are vets.

The military services also are planning to lay off temporary or contract employees, which could affect up to 46,000 workers. They will also delay routine maintenance of ships and aircraft that had been planned for the third and fourth quarters, officials said.

The Navy estimates its planned cuts will reduce spending by $1.4 billion along the East Coast, including canceling $271 million in maintenance at shipyards in the Norfolk, Virginia, area and $81 million in aircraft maintenance at Cherry Point, North Carolina.

The Navy also is planning to cancel $681 million in spending in California, $339 million in the Pacific Northwest, $299 million in Florida, $197 million in the U.S. Northeast and $110 million in Hawaii, officials said.

If automatic spending cuts under sequestration go into effect on March 1, the Navy would have to cut a further $4.08 billion in spending through the end of the current fiscal year, over and above the $6.3 billion it is trying to reduce now.

Those cuts would require further delays in repairs and a reduction in the number of steaming and flying days, the Navy said. The Navy might also have to reduce the number of carrier strike groups in the Middle East, it said.

The Army and Air Force also are expected to implement spending reductions before March 1 and are due to submit their plans to Deputy Secretary of Defense Ashton Carter later this week.

(Additional reporting by David Alexander, Patricia Zengerle, Phil Stewart and Andrea Shalal-Esa; Editing by Fred Barbash, Mary Milliken and Peter Cooney)

View the original article here

U.S. President Barack Obama delivers remarks next to Vice President Joe Biden (L) after the House of Representatives acted on legislation intended to avoid the ''fiscal cliff,'' at the White House in Washington January 1, 2013.

WASHINGTON | Thu Jan 31, 2013 3:08am EST

WASHINGTON (Reuters) - Big automatic cuts in federal spending are fast approaching again, alarming the defense sector but generating little activity in Congress to avoid them.

The cuts, known as a "sequestration," were postponed for two months as part of the legislation that ended the standoff over the "fiscal cliff" on January 1.

But the sense of crisis that accompanied the thought of across-the-board reductions then has all but vanished, replaced by a widespread sense of inevitability.

"I think we're going to have" the cuts "for some period of time, and I think the squeals from constituents will compel some compromise that will emerge in the second half of March," said Steve Bell, economic policy director at the Bipartisan Policy Center and a former Republican House Budget Committee staff director.

The defense industry's concern stems from the fact that half of the $85 billion in spending reductions will come from the budget of the Department of Defense, with the other half hitting a wide array of other government programs.

Outgoing Defense Secretary Leon Panetta as well as his designated successor, Chuck Hagel, have warned that the cuts will impair military readiness.

Congress' lack of urgency as it hurtles toward the launch of spending reductions on March 1 may be affected by Wednesday's news that the U.S. economy contracted in the fourth quarter.

The GDP report showed government spending tumbled at a 6.6 percent rate, with defense outlays plunging at a 22.2 percent pace, the largest drop since the third quarter of 1972.

But failure to find replacement savings by the March 1 deadline is not expected to spark a financial crisis because the cuts, split evenly between military and domestic programs, would start to bite gradually.

Unlike the "fiscal cliff" cuts, these are not accompanied by the threat of massive tax hikes, ultimately imposed only on the wealthiest taxpayers as a result of the legislation that ended the fiscal cliff standoff.

'DEVASTATING'

Worry runs deep through the defense sector, from weapons maker Northrop Grumman Corp to President Barack Obama's nominee for defense secretary, Hagel. They are calling on lawmakers to find a solution.

Hagel said the cuts would be "devastating" to the Pentagon.

"It would harm military readiness and disrupt each and every investment program," he said in written answers to senators' questions before a confirmation hearing on Thursday. "I urge Congress to eliminate the sequester threat permanently and pass a balanced deficit reduction plan."

While there are no public signs of negotiations between Republicans and Democrats to avert the cuts, the blame game is well under way.

Republican House of Representatives Budget Committee Chairman Paul Ryan said earlier this week he believed the automatic cuts "will probably happen" because Democrats were not willing to accept further cuts to domestic programs to shield military spending.

Top Senate Democrats have put the onus on House Republicans, saying they are unwilling to accept higher tax revenues as part of a balanced approach to replacing the cuts.

Another factor is at work in the House - the increasing influence of deficit hawks who believe the military should shoulder more of the deficit reduction burden. Traditionally, Republicans, including Ryan, last year's Republican vice presidential nominee, have tried to protect military programs.

"The momentum has shifted to those in the caucus who believe that the only savings we're ever going to get are going to be the sequester savings," said Bell.

Those fiscal conservatives believe Obama will not negotiate with them or agree to any significant cuts in social programs.

He added that it was possible that in the absence of a deal, Congress could provide some legislative language that gives domestic agencies and others some flexibility in making their cuts, rather than accept them in their current, across-the-board form.

Some Democrats are voicing concern the cuts could do serious economic damage.

"I think there should be a sense of urgency, because ... we're looking at an economy struggling to recover and the number of people who we want to have jobs who are still unemployed," said Democratic Senator Jean Shaheen of New Hampshire.

"A failure to take action on what we know is going to have a significant impact on that is simply unacceptable," said Shaheen, a member of the Senate Armed Services and Appropriations committees.

Northrop Grumman, which builds electronics and unmanned surveillance planes, warned that profits this year would fall sharply due to the increasing pressure on the defense budget.

"Our nation needs a balanced, strategic approach to our fiscal challenges ... not blind, indiscriminate budget cutting" Northrop Grumman Chief Executive Wes Bush told an earnings conference call.

LAYOFFS DETAILED

The Pentagon has begun to detail its cost-cutting plans in workforce and regional terms. It has enacted a freeze in civilian hiring, a move that hits employment for veterans since 44 percent of civilian defense employees are vets.

The military services also are planning to lay off temporary or contract employees, which could affect up to 46,000 workers. They will also delay routine maintenance of ships and aircraft that had been planned for the third and fourth quarters, officials said.

The Navy estimates its planned cuts will reduce spending by $1.4 billion along the East Coast, including canceling $271 million in maintenance at shipyards in the Norfolk, Virginia, area and $81 million in aircraft maintenance at Cherry Point, North Carolina.

The Navy also is planning to cancel $681 million in spending in California, $339 million in the Pacific Northwest, $299 million in Florida, $197 million in the U.S. Northeast and $110 million in Hawaii, officials said.

If automatic spending cuts under sequestration go into effect on March 1, the Navy would have to cut a further $4.08 billion in spending through the end of the current fiscal year, over and above the $6.3 billion it is trying to reduce now.

Those cuts would require further delays in repairs and a reduction in the number of steaming and flying days, the Navy said. The Navy might also have to reduce the number of carrier strike groups in the Middle East, it said.

The Army and Air Force also are expected to implement spending reductions before March 1 and are due to submit their plans to Deputy Secretary of Defense Ashton Carter later this week.

(Additional reporting by David Alexander, Patricia Zengerle, Phil Stewart and Andrea Shalal-Esa; Editing by Fred Barbash, Mary Milliken and Peter Cooney)

View the original article here

TOKYO | Sun Dec 23, 2012 11:54pm EST

TOKYO (Reuters) - Incoming Japan Prime Minister Shinzo Abe might ask upper house lawmaker Yoriko Kawaguchi to return for another stint as foreign minister, Kyodo reported on Monday.

Japan's next foreign minister will serve against a backdrop of rising tensions with China, over a territorial dispute involving uninhabited isles in the East China Sea. Abe has called for a tougher stance toward China.

Abe is now deciding on the lineup for his Cabinet, which is likely to be formally inaugurated on Wednesday, Kyodo said.

Kawaguchi, a career diplomat, served as foreign minister from 2002-2004 under Prime Minister Junichiro Koizumi, and she also served as environment minister in 2001 under Prime Minister Yoshiro Mori.

Some members of Abe's Liberal Democratic Party, which swept to victory in Japan's December 16 election, favor giving the foreign minister post to former financial services minister Toshimitsu Motegi or to former LDP secretary general Nobuteru Ishihara, the Kyodo report said.

Motegi is also being considered as a candidate for economy, trade and industry minister or internal affairs and communications minister.

Abe is likely to tap former defense minister Yuriko Koike as LDP policy chief, a separate Kyodo report said.

(Reporting by Lisa Twaronite; Editing by Michael Perry)

View the original article here

Republican presidential nominee Mitt Romney answers a question during the second U.S. presidential debate in Hempstead, New York, October 16, 2012.

View the original article here

n">(Reuters) - Shares of Herbalife (HLF.N) plunged again Friday, feeling the brunt of heavy selling in a week where prominent short-seller Bill Ackman called the company a "pyramid scheme."

The stock closed 19 percent down at $27.27, its lowest in nearly two years.

The selling continues a bad run for the stock, which has been hit hard in recent days as Ackman said he was shorting the stock, giving a three-hour presentation Thursday where he called the weight management company's model unsustainable.

Pershing Square Capital Management said on Friday it had launched a website that provides information about the company, including source data that was used in the presentation.

Shares have fallen 36 percent in the last three days and have lost nearly two-thirds of their value since hitting a life-high in April.

Ackman, known for agitating for management change at companies his fund invests in, has targeted Herbalife via one of his biggest short positions in years.

Ackman said he had been building his short position in the company's stock for several months and that he was so sure of his position that he believed the company's stock price would eventually go to zero.

More than 42.2 million Herbalife shares had changed hands on Friday, far surpassing the 2.8 million shares traded on average over the past 50 days.

Similar stocks in the space were also down. Nu Skin Enterprises Inc (NUS.N), a skin products company, closed 14 percent lower at $34.51. Blyth Inc (BTH.N), which sells nutritional supplements through its ViSalus unit, closed down 8 percent at $14.75.

Herbalife said on Friday it would hold an analyst day in the week of January 7 to respond to Ackman's claims.

Option volume on Herbalife hit an all-time high on Friday, a day that also marks the expiration of December equity options. Herbalife traders exchanged 136,000 puts and 85,000 calls, or 11 times the combined daily average, according to options analytics firm Trade Alert.

Out of that volume, 41 percent were December contracts that expire after market close. The most popular contracts are the December $27.50 strike put followed by the May $22.50 strike put.

(Reporting By David Gaffen, Doris Frankel and Maria Ajit Thomas; Editing by M.D. Golan and Saumyadeb Chakrabarty)

View the original article here