Exxon selling Japan unit for $3.9B to cut refining

Sherman Glass, president of ExxonMobil Refining, right, speaks as Philippe Ducom, lead country manager of ExxonMobil Japan Group, left, and Jun Mutoh, representative director of TonenGeneral Sekiyu K.K., listen during a press conference in Tokyo, Monday, Jan. 30, 2012 . Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a deal valued at $3.9 billion as the energy giant seeks to shed some of its refining operations globally amid declining oil demand in Japan's mature market. (AP Photo/Koji Sasahara)

Sherman Glass, president of ExxonMobil Refining, right, speaks as Philippe Ducom, lead country manager of ExxonMobil Japan Group, left, and Jun Mutoh, representative director of TonenGeneral Sekiyu K.K., listen during a press conference in Tokyo, Monday, Jan. 30, 2012 . Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a deal valued at $3.9 billion as the energy giant seeks to shed some of its refining operations globally amid declining oil demand in Japan's mature market. (AP Photo/Koji Sasahara)

TOKYO (AP) ? Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a $3.9 billion deal that reflects a long-term decline in Japan's demand for fuel and a global strategy to refocus on exploration.

TonenGeneral Sekiyu will buy 99 percent of the shares of Exxon Mobil Yugen Kaisha, which refines and sells fuel and lubricants, the Japanese refiner said about the deal, announced Sunday. Exxon Mobil's stake in TonenGeneral will drop to 22 percent from 50 percent.

Large oil and gas companies have been shedding refining operations in recent years and turning to oil exploration and production in the hope of bigger profits. Tighter rules for car and truck fuel efficiency are expected to weigh on growth in demand for fuel in developed countries for years to come.

Sherman Glass, president of ExxonMobil Refining, told a press conference Monday in Tokyo that it was a restructuring move amid a changing global energy market, but said the company remained "very committed" to its refining ? or downstream ? operations.d

"What we continue to do is try to restructure ? in some cases invest, in some cases divest and in some cases restructure ? to make it a strong group of operations in our downstream" business, Glass told reporters.

The companies plan to conclude the deal in June.

Exxon, the world's largest publicly traded oil and gas company, has a "long-term strategy of moving away from refining, where the margins are wafer thin, and into exploration," said Nicholas Smith, a strategist at CLSA Asia-Pacific Markets in Tokyo. "Refining is something that anybody can do. You can buy the technology off the shelf."

TonenGeneral said the move would make it more flexible, efficient and competitive in a market where demand is declining as the population ages and shrinks.

"The Japanese market is getting tougher," said Jun Mutoh, the company's managing director. "The decision-making within the company will be more effective in the newly integrated production-distribution operation."

TonenGeneral will continue to deliver products and services under the Esso, Mobil and General brands and continue to rely on Exxon's technology and technological support in the refining and petrochemicals businesses.

Other major oil companies are making similar moves.

Marathon Oil spun off its refining operations last July. This summer ConocoPhillips also plans to split itself in two, separating its refining operations from its more profitable oil and gas exploration and production business. BP and Shell are selling refineries in the U.S. and Western Europe.

Exploring and producing oil and gas offers investors a chance for faster growth. Also, oil prices are high and are expected to remain so, which has helped producer profits and funded a boom in new exploration.

Glass also said Exxon would like to develop Japan as a market for natural gas, another key part of Exxon's business, but said exporting it from the U.S. would be "problematic" and that shipping it from Australia or the Middle East would be more likely options.

He cited the company's 2010 acquisition of XTO Energy for its expertise in shale gas and fracking, a drilling method that is used to free oil and gas from rock, as an example of investment in the business.

"We are taking advantage of their expertise to bring additional gas to the market in a number of places around the world," he said. "We do believe that Japan is a promising market that we'd like to develop for LNG," or liquefied natural gas.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-30-AS-Exxon-Japan/id-d1b588fecf8b4465afc2eff5d2fd8ab5

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Russia blames radiation for space probe failure (AP)

MOSCOW ? The head of Russia's space agency said Tuesday that cosmic radiation was the most likely cause of the failure of a Mars moon probe that crashed to Earth this month, and suggested that a low-quality imported component may have been vulnerable to the radiation.

Vladimir Popovkin also said a manned launch to the International Space Station is being postponed from March 30 because of faults found in the Soyuz capsule.

The statements underline an array of trouble that has afflicted the country's vaunted space program in recent months, including the August crash of a supply ship for the space station and last month's crash of a communications satellite.

Since the end of the U.S. space shuttle program last year, Russian craft are the only means to send crew to and from the ISS.

The unmanned Phobos-Ground probe was to have gone to the Mars moon of Phobos, taken soil samples and brought them back. But it became stuck in Earth orbit soon after its launch on Nov. 9. It fell out of orbit on Jan. 15, reportedly off the coast of Chile, but no fragments have been found.

The failure was a severe embarrassment to Russia, and Popovkin initially suggested it could have been due to foreign sabotage.

But on Tuesday he said in televised remarks that an investigation showed the probable cause was "localized influence of heavily radiated space particles."

Popovkin, speaking in the city of Voronezh where the report was presented to Deputy Prime Minister Dmitry Rogozin, said two units of the Phobos-Ground probe's onboard computer system went into an energy-saving "restart" mode, apparently due to the radiation, while the craft was in its second orbital circuit.

It was not immediately clear why the units could not be brought out of that mode.

Popovkin said that some microchips used on the craft were imported and possibly of inadequate quality to resist radiation. He did not specify where the chips were manufactured.

Yuri Koptev, a former space agency head who led the Phobos-Ground investigation, said 62 percent of the microchips used in the probe were "industrial" class, a less-sophisticated level than should be used in space flight.

Popovkin said the craft's builder, Moscow-based NPO Lavochkin, should have taken into account the possibility of radiation interfering with the operation and said Lavochkin officials would face punishment for the oversight.

Popovkin later announced that a March 30 planned launch of three astronauts to the space station will be postponed "likely until the end of April" because of problems with the capsule. He did not specify, but the state news agency RIA Novosti cited the director of Russia's cosmonaut-training program as saying leaks had been found in the capsule's seals.

It would be the second significant postponement of a manned Russian launch in the past year. The August crash of the supply ship pushed back a manned launch to the ISS because the booster rocket that failed in the crash was similar to the ones used in manned missions.

Source: http://us.rd.yahoo.com/dailynews/rss/space/*http%3A//news.yahoo.com/s/ap/20120131/ap_on_sc/eu_russia_falling_spacecraft

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Nevada officials: Luxor guests had Legionnaires' (AP)

LAS VEGAS ? Health officials in Las Vegas said Monday that the bacteria that causes Legionnaires' disease was found in water samples at the Luxor hotel-casino this month after a guest died of the form of pneumonia.

The Southern Nevada Health District said the Centers for Disease Control and Prevention national surveillance program reported three cases in the past year of Luxor guests being diagnosed with the disease caused by Legionella bacteria.

The Las Vegas Strip resort's water was tested after the first two cases were reported during the spring of last year, but no Legionella bacteria was detected, district officials said. Those guests recovered.

Officials say the Luxor, owned by MGM Resorts International, immediately began a remediation process once the bacteria was found.

MGM Resorts spokesman Gordon Absher said treatment procedures include superheating and super-chlorination of the water system.

"We are confident in the integrity of our systems and the safety protocols we follow at all our hotels. Guest and employee safety is always a top priority at our company," Absher said. "Even before last summer, MGM Resorts led the industry with aggressive and stringent programs to control Legionella issues common to all large buildings."

Absher said the company's resorts regularly test for Legionella and treat water systems preventatively, before bacteria are detected.

The new cases come as the company is already facing a civil lawsuit from guests who said they were infected with Legionella at the Aria Resort & Casino, part of the CityCenter complex that is half-owned by MGM Resorts.

MGM Resorts notified guests that they might have been exposed to the bacteria between June 21 and July 4 after the district reported six cases of Legionnaires' disease in July. The district said those guests recovered after treatment.

Eight guests sued in August, seeking $337.5 million in damages from the resort and its builders. An MGM Resorts spokesman at the time denied negligence, saying hotel officials carefully communicated with its guests and reimbursed them fairly for legitimate medical expenses. The case is still pending in federal court in Las Vegas.

Legionella is commonly found in the environment in fresh water, the district said. Symptoms of Legionnaires' disease usually begin within two weeks of being exposed to the bacteria, the district said.

Most people who are exposed to the bacteria don't get sick, according to the CDC. Smokers, people over age 50 and those who have chronic lung disease or weak immune systems are most susceptible, the CDC said.

The bacteria isn't spread between people. It grows most often in warm water, infecting people when they breathe in mist or vapor that has been contaminated.

District officials said between 8,000 and 18,000 people are hospitalized with Legionnaires' disease each year, and can cause death in up to 30 percent of cases. Officials said as many as one-fourth of reported Legionnaires' cases are associated with travel, so health investigators typically ask for travel histories when they look into individual cases.

The disease takes its name from an outbreak at the Pennsylvania American Legion convention held at the Bellevue-Stratford Hotel in Philadelphia in 1976.

___

Oskar Garcia can be reached at http://twitter.com/oskargarcia

Source: http://us.rd.yahoo.com/dailynews/rss/health/*http%3A//news.yahoo.com/s/ap/20120130/ap_on_he_me/us_legionnaires__disease_luxor

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Kentucky still easy No. 1 in AP poll

Kentucky starts it second straight week ? and fourth this season ? as the No. 1 team in The Associated Press' college basketball poll.

The Wildcats were again a runaway choice, receiving 63 first-place votes from the 65-member national media panel on Monday.

Syracuse, which got the other No. 1 votes, and Ohio State both moved up one place to second and third. Missouri, which had been No. 2, dropped to fourth after its loss to Oklahoma State.

North Carolina, Baylor, Duke, Kansas, Michigan State and undefeated Murray State round out the top 10. The Racers, the lone remaining unbeaten team in Division I, cracked the top 10 for the first time in school history.

Gonzaga and Vanderbilt return to the rankings at 24th and 25th. The Bulldogs, who have won 12 of 13, were out the last two weeks, while the Commodores, winners of 10 of 11, were out the last six.

Kansas State dropped out from 22nd after a four-week run, while Connecticut, which has lost three straight and five of seven, fell from 24th. Connecticut had been ranked for the last 28 polls, the sixth-longest current streak. The longest current run is Duke at 90 consecutive polls, a streak that started with the preseason poll of 2007-08.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-30-BKC-T25-College-Bkb-Poll/id-06d36a2a10a6486abbe02c1c28c65c26

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S&P 500 Week in Review: Netflix Draws Investing Demand, E-Trade ...

By Scott Gillette

January 29 2012 Email This

Scottrade: $7 Online Trades. Real-Time Stock Quotes

Monday

Netflix (NASDAQ:NFLX) was hit hard pre-market by Wedbush?s lack of confidence. Wedbush believes that Q1 earnings will be poor, and 2012 consensus estimates ill drop a buck a share. Piper Jaffray, for what it?s worth, is optimistic about Netflix, as they think the customer base will stabilize and ultimately grow again.

Don?t Miss: Netflix?s Streaming Service Comes Up Short for Movie Buffs.

Halliburton?s?(NYSE:HAL) results came in this morning, and although EPS and revenues beat estimates, the higher expectations of the market were not met. Interesting tidbit: unconventional oil drilling has twice as much activity as unconventional gas drilling.

Amgen (NASDAQ:AMGN): The entire pharmaceutical sector is being downgraded, and Amgen is no exception. Its stock has been downgraded to underweight by JP Morgan.

Earnings Report: PetMed Express Inc. Earnings: Shrinking Margins for Fifth Consecutive Quarter, Net Income Falls.

Sears Holdings Corporation (NASDAQ:SHLD): The performance of this stock has been remarkable: up 69% year to date, the stock jumped by 8% before coming down close to where it started at the beginning of trading. Some believe Sears is now in a classic short squeeze.

Southwestern Energy Co. (NYSE:SWN) popped along with other natural gas producers because the spike of prices and Chesapeake?s planned cuts in production.

Chesapeake Energy Corporation (NYSE:CHK): After sinking overnight to $2.20, natural gas futures jumped 6.4% in a matter of minutes. Apparently there were too many short-sellers in the natural gas market, and the market has taken care of them for the time being.

Tuesday

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Source: http://wallstcheatsheet.com/stocks/sp-500-week-in-review-netflix-draws-investing-demand-e-trade-under-pressure.html/

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Egypt's military considers speeding up transition (AP)

CAIRO ? A spokesman for an advisory body to Egypt's military rulers says the army is studying ways to accelerate the transition to civilian rule, including moving up the timetable for presidential elections.

Mohammed El-Kholy said Monday the panel of civilian advisers wants to "ease the tension" following street protests on the anniversary of last year's uprising that toppled President Hosni Mubarak, leaving the generals in charge.

The protesters want an immediate end to military rule, and accuse the army of mismanaging the transition and committing human rights violations.

El-Kholy says one suggestion is to hold presidential elections earlier than by the end of June ? the military's current schedule.

Activists say the new proposals could inflame tensions because they squeeze the time allotted for drafting a new constitution.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

CAIRO (AP) ? An Egyptian security official says gunmen have stormed the branch of a major international bank and robbed an armored car in separate parts of Cairo.

The official said that seven gunmen charged Monday into the New Cairo branch of HSBC Bank on the city's outskirts, firing their weapons in the air, and took money from tellers.

The same day, he said, three gunmen robbed an armored car as it unloaded money at another bank in southern Cairo, fleeing with over 3 million Egyptian pounds ($542,000 dollars).

He spoke on condition of anonymity as he was not authorized to talk to the media.

Armed bank robberies are rare in Egypt. Monday's daring daytime raids come amid reduced police deployments following the uprising that forced President Hosni Mubarak from power last year.

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20120130/ap_on_re_mi_ea/ml_egypt

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Cars circle central Moscow in anti-Putin protest (AP)

MOSCOW ? Thousands of cars flying white ribbons or white balloons circled central Moscow on Sunday in a show of protest against Russian Prime Minister Vladimir Putin.

The cars jammed the inner lanes all along the 16-kilometer (nearly 10-mile) Garden Ring, which has as many as 16 lanes of traffic at its widest points. More protesters stood along the side of the road waving white ribbons and flags as the cars passed, their horns blaring.

White ribbons became an opposition symbol during demonstrations to protest alleged fraud in a Dec. 4 parliamentary election said to have boosted the results for Putin's party.

Tens of thousands turned out for two mass protests last month to demand free and fair elections, and protest organizers are now preparing for a third big demonstration on Saturday.

Putin is running in a March 4 presidential election to reclaim the post he held from 2000 to 2008. He is expected to win, but is under pressure to show he can win fairly.

Sunday's action was seen as helping to build momentum for the protest movement and it provided another outlet for the creativity that has been a defining feature of the demonstrations.

While most drivers were content to tie white ribbons and balloons to their car antennas, sideview mirrors and door handles, some decorated their vehicles with original signs and banners.

Source: http://us.rd.yahoo.com/dailynews/rss/russia/*http%3A//news.yahoo.com/s/ap/20120129/ap_on_re_eu/eu_russia_opposition

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Hazanavicius wins at Directors Guild for 'Artist' (AP)

LOS ANGELES ? Michel Hazanavicius has won the top film honor at the Directors Guild of America Awards for his silent movie "The Artist," giving him the inside track for the best-director prize at the Academy Awards.

French filmmaker Hazanavicius, whose credits include the "OSS 117" spy spoofs, had been a virtual unknown in Hollywood until "The Artist," his black-and-white throwback to early cinema that has been a favorite at earlier film honors.

The Directors Guild honors are one of the most-accurate forecasts for who might go on to take home an Oscar. Only six times in the 63-year history of the guild awards has the winner failed to win the Oscar for best director. And more often than not, whichever film earns the directing Oscar also wins best picture.

___

Online:

http://www.dga.org

Source: http://us.rd.yahoo.com/dailynews/rss/tv/*http%3A//news.yahoo.com/s/ap/20120129/ap_en_tv/us_directors_awards

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The GOP debate: 7 takeaways (Politico)

JACKSONVILLE , Fla ? This was Newt Gingrich?s last chance to shine on the big stage before Tuesday. It did not go as hoped.

Gingrich and Mitt Romney were supposed to be the main attractions, but Rick Santorum and Ron Paul won notice at the 19th GOP debate, hosted by CNN at the University of North Florida in Jacksonville.

Continue Reading

Below are POLITICO?s seven takeaways:

1) This was the ?Trading Places? debate

For a 120 minutes, Mitt Romney and Newt Gingrich essentially traded roles ? Romney, often meek and shrill-sounding as he defended himself this cycle, became the aggressor, and Gingrich, who?s played the debate hall crowd like a musical instrument in the past, seemed to shrink from the attacks.

Romney came with balled-up fists to the debate stage, and swung hard at Gingrich during the first few questions ? in the exact fashion that the former House Speaker has typically gone at the front-runner.

It worked. Romney had the thing that has eluded him most this cycle ? a ?moment.?

The former Massachusetts governor, apparently having gotten the message that Florida?s outcome could be political life or death for him, slammed Gingrich hard for a now-pulled radio ad in which he described Romney as ?anti-immigrant.? A newly-confident Romney called the charge ?repulsive? and even demanded an apology.

The crowd, in its first roar of the night, loved it ? and Romney was off and running.

Even if there were moments where Romney could have hit Gingrich even harder ? he left the former House Speaker?s support for the individual health care mandate untouched, for instance ? he still gave the most confident answer he?s given to date on being proud of his successes, sounding something close to comfortable, for the first time, discussing his wealth.

Nevertheless, he made mistakes ? saying ?I have a trustee? and declaring he?s never voted for a Democrat if a Republican was also on the ballot were among them, neither of which were necessary to say or helpful to his cause. Two other fumbles: His ?doubting? that a negative ad against Gingrich is being aired by his campaign (it is) and his answer on taxes, which got very in the weeds about his money manager.

But it?s the first half-hour of almost every GOP debate that?s set the tone for the rest ? so the debate counts as a victory for Romney, who needed to keep the momentum from moving away from him again.

2) Whither Gingrich?

It was Gingrich who needed to recapture his momentum and he simply couldn?t do it.

For someone who has made performances in debates central to his candidacy, this was an unusual night.

The former House Speaker, appealingly pugnacious to GOP voters in past debates, simply seemed worn out and off point. Gone was the brawler who could whip up the crowd. And it?s not quite clear where he went.

He never raised any of the well-worn phrases he?s used to define Mitt Romney on the stump ? ?Massachusetts moderate? comes to mind. He also bypassed an opportunity to hit Romney over his Massachusetts health-care plan.

Gingrich?s pushback against Romney over the immigration issue simply failed to connect. He initially tried to avoid repeating his criticisms of Romney?s now-closed Swiss bank account on the debate stage ? something he?s hit him for on the trail in the last few days ? and attempted to retreat toward defending the entire GOP field from the mainstream media?s divisive questions.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//us.rd.yahoo.com/dailynews/external/politico_rss/rss_politico_mostpop/http___www_politico_com_news_stories0112_72066_html/44323135/SIG=11m9iqcms/*http%3A//www.politico.com/news/stories/0112/72066.html

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TurboTax Premier Online (2011)

As much as personal tax preparation software and Web sites have evolved over the last 20-plus years, they still can't anticipate every possible user question or accommodate every imaginable tax scenario.

But Intuit's TurboTax family of sites comes closer than anyone.

The big takeaway this year is not what's in TurboTax. It's where it's available: everywhere. Intuit's new mobile offerings make it possible for you to sweat every detail of your 1040 while you're in your home office, riding the train to work, sitting in a restaurant?anywhere. The entire TurboTax line has been optimized for the Apple iPad, and additional apps are available for the iPhone and Android operating systems.

The other significant piece of news for the 2011 tax year is the availability of tax professionals (CPAs, Enrolled Agents, and tax lawyers) for questions from taxpayers. Unlike in the past, these phone calls and online chats are free, and you can request as many as you'd like.

Little has been done to the core site itself, with one big exception: It's faster. All of those pretty fonts and icons and graphics have had impact on performance in previous years, but I was pleased to see that speed was improved this go-round.

Versions Galore
I reviewed TurboTax Premier Online 2011. As always, you don't have to pay until you print or e-file, and pricing remains the same as the 2010 versions: $49.95 for the federal version, and still a whopping $36.95 for state. Though the state version imports the data you so carefully prepare in the federal edition, there's not nearly as much to it. Granted, every state has different tax laws and they change every year, but this still seems excessive. No other online tax product is as expensive as TurboTax, all things considered.

Each TurboTax site looks and works much like the ones a step lower on the Intuit food chain. But as you go up the chain, each level adds on its own extras and is increasingly sophisticated. Conveniently, you can start your prep on one and transfer your work to another if you find the first one lacking. Competitors also offer multi-tier product lines with in-place upgrading.

A free e-file is included with each of these products:

• TurboTax Federal Free Edition Online. Actually contains many major forms and schedules, including the 1040, 1040A and 1040EZ; Schedules A and B; several 1099s; and a whole host of others, but it lacks the powerhouse Schedules C-F and step-by-step guidance. State version, $27.95.
• TurboTax Basic Online. Adds step-by-step help. Federal, $19.95; state $36.95.
• TurboTax Deluxe Online. Handles more complex deductions, like home mortgages, medical expenses, charitable donations and childcare expenses. Also hunts down those you may have missed. Federal, $29.95; state, $36.95.
• TurboTax Premier Online. Comes with special guidance and resources for taxpayers who have investments and/or rental property. Federal, $49.95; state, $36.95.
• TurboTax Home & Business Online. Basic, Deluxe and Premiere include the Schedule C/EZ (a simplified version of the Schedule C), but this top-of-the-line personal tax prep site is the best choice for sole proprietors, consultants, 1099 contractors or single-member LLCs who want extra guidance on entering business income and expenses. Also lets you prepare unlimited W-2 and 1099-MISC forms. Federal, $74.95; state, $36.95.

CD-based desktop versions are still available, but they're significantly more expensive. H&R Block and TaxACT, too, have desktop versions, but CompleteTax is online-only. For example Premier costs $89.95 direct for the CD or download version.

Guiding You Through
Intuit likes to call TurboTax a GPS for your taxes. It's an apt description. Thanks to a clear navigational system and a plethora of help resources, you always know where you are, how to get where you're going, and you can ask questions if you're lost or don't understand the freeway signs.

The opening screens ask for your personal information (address, Social Security number, etc.), providing blank fields, check boxes and drop-down lists here and throughout the site (if you're missing information as you proceed through the site, you can flag it with the tool provided and come back to it later). The program divides the 1040 into its assorted forms and schedules, taking your answers and doing any calculations necessary, and then dropping them into the correct fields in the background.

Moving on, you'll visit each of four more sections: Federal Taxes, State Taxes, Wrap-Up and Print & File. You'll do the lion's share of your work in the first, as it's divided into:

• Wages & Income (salaries, interest and dividends, investments, retirement funds, etc.)
• Deductions & Credits (mortgage interest and property taxes, home energy credits, child and dependent care, charitable donations, medical expenses, estimated taxes, etc.)
• Other Tax Situations (Alternative Minimum Tax, Underpayment Penalties, Nanny and Household Employee Tax, etc.)
• Federal Review (list of topics you may have missed; TurboTax will take you to the appropriate screen and bring you back to the review if you've forgotten something)
• Error Check (TurboTax examines your return for errors and opens a small window displaying the related area of the form, so you can fix it)

The Wrap-Up section does a final review, estimates your risk of an audit (no guarantees, of course, but you can pay $39.95 for representation in case the worst happens) and provides some suggestions for next year's tax planning. Every site offers its own version of these tasks, and while I've never found this follow-up to be particularly enlightening, TurboTax does it as well as anyone.

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/OlS4nUc5m1A/0,2817,2379132,00.asp

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Myanmar minister says no going back on reforms (AP)

NEW DELHI ? Myanmar's foreign minister said Wednesday that the transition to democracy in the once-authoritarian southeast Asian country will be gradual and systematic.

"The reform process that we have started is irreversible," Myanmar Foreign Minister Wunna Maung Lwin said in New Delhi during a trip to meet with Indian leaders. "There will be no turning back or derailment on the road to democracy."

Myanmar's military-backed but elected government has eased restrictions on political activity and released hundreds of political prisoners since it took office in March 2011. Opposition leader and Nobel Peace laureate Aung San Suu Kyi is now a candidate in parliamentary elections, and President Thein Sein has even suggested that she could be considered for a Cabinet post if she wins.

Maung Lwin said future reforms will be "incremental, systematic and dynamic."

However, he warned that the transition to democracy was not without challenges. He said Myanmar was "prepared and resolute to overcome all these challenges," but did not elaborate on what they were.

For much of the past two decades, Myanmar was a pariah to Western democracies for holding Suu Kyi and other political prisoners and maintaining autocratic military rule.

The easing of political and economic restrictions under the new government was already yielding better relations. A host of top Western diplomats has visited Myanmar to witness the situation and encourage the reforms.

On Monday, the European Union lifted some restrictions including the removal of a visa ban on Myanmar's leaders. Most Western sanctions are still in place as countries watch the reforms' progress and the fairness of an upcoming election.

Maung Lwin said Myanmar was determined to reach out to the international community and to step up its engagement as it prepared to head the ASEAN regional grouping in 2014.

India has stepped up its ties with Myanmar as New Delhi competes to assert its influence in the region. Prime Minister Manmohan Singh is scheduled to visit Myanmar in May.

Talks between Maung Lwin and his Indian counterpart S.M. Krishna centered on ways to combat insurgencies, drug trafficking and arms smuggling across the long and porous border shared by the two countries.

Krishna reiterated India's support for infrastructure development and economic projects in Myanmar.

Energy-hungry India and China are competing for access to Myanmar's large natural gas resources.

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_re_as/as_india_myanmar

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Scientists Manipulate and Erase Memories (preview)

Features | Mind & Brain See Inside

Drugs and other therapies may soon be able to alter or even delete recollections selectively

By Adam Piore ?| January 26, 2012?|

Image: Photoillustration by Aaron Goodman

In Brief

1. Scientists once believed that long-term memories were immutable. Research now suggests that reminding a person of something makes that recollection temporarily revert to an insecure state, in which it can be modified, even erased.
2. Deleting, or at least muting, parts of human memory with drugs or targeted therapies might help people recover from trauma or anxiety.
3. Promising approaches for altering remembrances include a drug used to treat high blood pressure and chemicals that block a newly discovered enzyme that helps recollections persist.

Jo?l Coutu knelt on the cold cement floor of the pet supply store he managed in Montreal, his wrists bound behind him with telephone wire. He could feel the barrel of a pistol pressed against the back of his neck. ?You?re lying!? the gunman screamed. ?And I am going to blow your head off.?

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Higher oil prices, asset sales boost Conoco profit (AP)

NEW YORK ? Higher oil prices are making it easier for ConocoPhillips to complete a massive transformation this year.

The Houston company said Wednesday that profits rose 66.1 percent in the fourth quarter. Much of that came from the sale of pipelines and other assets that rose in value with the price of oil.

From October to December, ConocoPhillips earned $3.39 billion, or $2.56 per share, compared with $2.04 billion, or $1.39 per share a year earlier. Revenue increased 17.2 percent to $62.4 billion.

Excluding gains, earnings were $2.02 per share. Analysts had expected earnings of $1.77 per share on revenue of $45.1 billion.

ConocoPhillips is in the final stages of a three-year overhaul of its worldwide operations. Since 2010, the company shed $10.7 billion in assets, including some of its least profitable businesses, and it plans to sell more than $1 billion more by the end of 2012.

It also will spin off its refining business into a separate company, Phillips 66, before June.

As it closed operations, worldwide oil production declined, including a 13.3 percent drop in the final three months of 2011. Exploration and production profits fell 5 percent in the quarter, but the decline would have been much worse if not for an increase in oil and natural gas prices.

ConocoPhillips sold crude worldwide for an average of $97.22 in the quarter, up 22.4 percent from the same period last year. It sold natural gas for $5.34 per 1,000 cubic feet, up 4.9 percent from last year.

Meanwhile, refining and market profits soared as the company sold $1.55 billion in pipelines and other refining assets. Altogether, the company's refining business earned $1.7 billion in the quarter.

ConocoPhillips' chemicals unit increased profits 32.2 percent to $156 million and its midstream business increased earnings 30 percent to $118 million.

For the full year, ConocoPhillips said it earned $12.4 billion, or $8.97 per share, compared with $11.4 billion, or $7.62 per share, in 2010. Annual revenue increased 26.5 percent to $251.2 billion.

ConocoPhillips is the first major oil company to report financial results for the fourth quarter. Chevron Corp. plans to release its quarterly figures on Friday, followed by Exxon Mobil Corp. and Royal Dutch Shell next week. Occidental Petroleum Corp. on Wednesday reported a 35 percent jump in quarterly profits as it increased production and sold crude for higher prices.

ConocoPhillips shares fell by 11 cents to $70.50 in morning trading.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20120125/ap_on_bi_ge/us_earns_conocophillips

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Former CIA officer accused of terror leaks (AP)

ALEXANDRIA, Va. ? Authorities say a former CIA agent who has claimed he helped interrogate a top suspected terrorist has been charged with leaking classified secrets about fellow officers to the media.

The U.S. Attorney's Office says 47-year-old John Kiriakou (keer-ee-AH'-koo) of Arlington is charged with violating the Intelligence Identities Protection Act and the Espionage Act. He is scheduled to make an initial appearance in federal court in Alexandria on Monday afternoon.

Authorities say Kiriakou told a New York Times reporter about a fellow officer who participated in interrogating suspected al-Qaida financier Abu Zubaydah in 2002. That information was classified at the time.

Zubaydah was captured in Pakistan in 2002. He was reportedly waterboarded 83 times. His case has been made an example by those who believe the interrogation technique should be outlawed.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120123/ap_on_re_us/us_cia_leak_charges

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Seal, Heidi Klum announce separation (AP)

NEW YORK ? Seal and Heidi Klum have announced that their storybook marriage is coming to the end of the runway.

In a statement Sunday night, the power couple announced their separation after rumors swirled over the weekend that a divorce was imminent.

"While we have enjoyed seven very loving, loyal and happy years of marriage, after much soul searching we have decided to separate," the joint statement read. "We have had the deepest respect for one another throughout our relationship and continue to love each other very much, but we have grown apart. This is an amicable process and protecting the well-being of our children remains our top priority, especially during this time of transition. We thank our family, friends, and fans for their kind words of support. And for our children's sake, we appreciate you respecting our privacy."

The couple married in 2005 and has four children together, including the supermodel's daughter from a previous relationship.

They were one of Hollywood's most high-profile couples, and seemed to have the relationship everyone should envy. They two starred together in the music video "Secret," they renewed their wedding vows each anniversary, boasted of their love in the media, and threw Halloween bashes together where they dressed in outrageous outfits, most recently last year in New York City, where the two engaged in their typical public display of affection for the cameras.

In an interview with The Associated Press in 2007, the "Kiss from A Rose" singer described his wife, who has a tattoo of his name on her arm, as his best friend.

"It is really important that we have that understanding because apart from anything else it is really healthy," he said of the "Project Runway" host. "People often talk about the most important thing in a relationship. They say it is really important that you are turned on by your partner and you love each other, which is all really true.I often think that the most important thing or certainly up there with love is respect."

TMZ first reported on Saturday that the two planned to divorce this week.

His announcement comes as he releases his new album, "Soul 2," on Tuesday, which has songs like "Love T.K.O," "Let's Stay Together" and "Love Don't Live Here Anymore."

___

AP Entertainment Writer Alicia Quarles contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/celebrity/*http%3A//news.yahoo.com/s/ap/20120123/ap_en_ce/us_people_seal_heidi_klum

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Another Applied Hayek Moment (Powerlineblog)

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Scientists Create World's Tiniest "Ear"

One night, when I was in my late 20s, I started hearing this weird, tonal scraping sound, but only in the right ear. I obviously considered it unusual, so I went to the hospital to get it checked out. (aside: I LOVE Canada's health care system). The doctor who examined me said that I had a textbook case of a burst eardrum. He prescribed antibiotics, and (since this was a university hospital) he asked if I could come back the next day to get a picture taken of my eardrum for teaching purposes.

When I re

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UK: No public funding for new royal yacht

FILE - A June 23, 1997 photo from files showing the Royal Yacht Britannia passing the new Hong Kong Convention Center in Hong Kong Harbor. What do you get for a monarch who has almost everything? Not, apparently, a new yacht, at least not one paid for with taxpayer funds. That was the message Monday, Jan. 16, 2012, as a brief boomlet of support for the idea of providing Queen Elizabeth II with a new royal yacht to mark her Diamond Jubilee was quickly deflated by Prime Minister David Cameron. It is estimated that a new yacht would cost at least 60 million pounds ($92 million/72,455,000 euro). Cameron's spokesman Steve Field said it would not be appropriate for public funds to be spent on a new yacht during times of economic hardship. (AP Photo/Pool, File)

FILE - A June 23, 1997 photo from files showing the Royal Yacht Britannia passing the new Hong Kong Convention Center in Hong Kong Harbor. What do you get for a monarch who has almost everything? Not, apparently, a new yacht, at least not one paid for with taxpayer funds. That was the message Monday, Jan. 16, 2012, as a brief boomlet of support for the idea of providing Queen Elizabeth II with a new royal yacht to mark her Diamond Jubilee was quickly deflated by Prime Minister David Cameron. It is estimated that a new yacht would cost at least 60 million pounds ($92 million/72,455,000 euro). Cameron's spokesman Steve Field said it would not be appropriate for public funds to be spent on a new yacht during times of economic hardship. (AP Photo/Pool, File)

FILE - A Saturday, Nov. 22, 1997 photo from files provided by the Royal Navy showing the Royal Yacht Britannia sailing into Portsmouth southern England for the last time before she was decommissioned in December1997. What do you get for a monarch who has almost everything? Not, apparently, a new yacht, at least not one paid for with taxpayer funds. That was the message Monday, Jan. 16, 2012, as a brief boomlet of support for the idea of providing Queen Elizabeth II with a new royal yacht to mark her Diamond Jubilee was quickly deflated by Prime Minister David Cameron. It is estimated that a new yacht would cost at least 60 million pounds ($92 million/72,455,000 euro). Cameron's spokesman Steve Field said it would not be appropriate for public funds to be spent on a new yacht during times of economic hardship. (AP Photo/Royal Navy, Roger Littler, File)

LONDON (AP) ? What do you get for a monarch who has almost everything? Not, apparently, a new yacht, at least not one paid for with taxpayer funds.

That was the message Monday as a brief boomlet of support for the idea of providing Queen Elizabeth II with a new royal yacht to mark her Diamond Jubilee was quickly deflated by Prime Minister David Cameron.

It is estimated that a new yacht would cost at least 60 million pounds ($92 million).

Cameron's spokesman Steve Field said it would not be appropriate for public funds to be spent on a new yacht during times of economic hardship. But he said the government would be supportive of private efforts to provide a new ship for the queen.

He acknowledged that ministers have been approached over plans to raise donations for a privately funded vessel and that the government "would react favorably" to a firm plan.

"There are a number of proposals out there for a privately financed yacht," Field said.

Cameron has been contacted over the proposals and Britain's government could potentially play a role in facilitating the construction of a new royal flagship ? even though no taxpayer money would be used.

"I don't think anyone is suggesting public money should be used for this," Field told reporters Monday. "There is a difficult economic situation, there are scarce public resources, therefore we don't think it would be an appropriate use of public money."

The idea of a new royal yacht was proposed by Education Secretary Michael Gove, who suggested in a leaked letter that the queen should receive a replacement for the Royal Yacht Britannia, which was decommissioned in 1997 after 44 years as a floating royal residence known to have been cherished by the queen.

He said the jubilee offers a "tremendous opportunity to recognize in a very fitting way the queen's highly significant contribution to the life of the nation and the Commonwealth."

Royal watchers who have followed the queen's long career remember that one of the very few times she has shown emotion in public was when she shed a tear at the decommissioning of the Britannia, which is now berthed in Edinburgh as a tourist display.

The ship sprang a leak earlier in January, requiring repair work.

It is not clear if the queen even wants a new yacht. She is in her mid-80s and her husband, Prince Philip, is 90 and was recently found to have heart disease.

Buckingham Palace officials said they would not be commenting on the matter.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-16-EU-Britain-Royal-Yacht/id-c468508b912647d6bcf3c89985251d80

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Ridiculous $1500 Diamond Studded Business Cards

Business cards have become more of a hassle in a time when contact details can be shared electronically. But one company has chosen to ignore this obvious trend with a luxury card that tells people you're an arrogant ass.

I mean seriously, what other message are you going to get when handed a diamond-studded card made from carbon fiber or other equally expensive materials? I don't care what title's printed on there, handing these out says you're nothing but a well-paid suit with no real grasp of where the world is headed.

I'd point an accusing finger at the company who makes the cards, Black Astrum, but so far as I can tell they've just come up with a legal way to cleverly cheat the wealthy out of their money. To keep them exclusive, and make people think they represent some manner of status, you have to be specifically invited to order a set of 25, 50, or 100 cards. So kudos to you, I wish I had thought of the idea first. [Black Astrum via Born Rich]

Source: http://gizmodo.com/5876142/ridiculous-1500-diamond-studded-business-cards

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Recursive Google Image Search Is Mindflippingly Nuts [Video]

As you may know, you can search for photos by dropping a picture on Google Images. It shows you images that are equal or similar to yours. This is what happens when you feed one search with the result of the previous search. 2,951 times. More »

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Africa massacres: Fundraiser defends aid to tribe

Gai Bol Thong, who fled Sudan in 1995, helped raise $45,000 to support his community in South Sudan. Some say the money helped fund a violent raid on a neighboring community which killed thousands. Bol Thong says his community was just defending itself and that the money goes to support many needs.

By msnbc.com staff

A Sudanese refugee in Seattle says he led?a?fundraising effort?for a tribe in South Sudan?that?is accused of massacring hundreds of men, women and children, as the world?s newest nation faces?the prospect of a full-blown civil war.

Gai Bol Thong is the director of an organization called Nuer Youth of North America, which he said?provides humanitarian support for?the Nuer, one of the predominant ethnic/tribal communities of South Sudan, according to a report Friday in the?Humanosphere global health blog.

The father of eight moved to the U.S. in 1995 after fleeing Sudan's 1983-2005 civil war, which killed millions, blogger Tom Paulson writes.

The Nuer, who?mostly raise cattle for a living,?are frequently in?conflict over resources with another cattle-raising South Sudanese tribe, the Murle. "This goes back hundreds of years,? Bol Thong said.

The animosity between the two groups deepened last year, when the Murle attacked a Nuer community, killing hundreds of people, including women and children. Last month, the Nuer retaliated in a massacre that the United Nations, even with?combat-ready peacekeepers, could do nothing to stop.

The raiders had even broadcast advance notice of their plans, according to a story published Thursday by the New York Times.

?We have decided to invade Murleland and wipe out the entire Murle tribe on the face of the earth,? the Nuer statement said. Aiding that effort was $45,000 that Bol Thong estimated that he?helped raise from South Sudanese living abroad -- he said for the warriors' food and medicine. ?

Read the original story on The New York Times

?In?the?Nuer?culture, you warn them ahead of time so they can remove the women and children,? Bol Thong told Humanosphere. ?The Murle made genocide on us. We do not kill old people, women and children.?

News reports tell a different story.

The Times reporte that about 8,000 Nuer fighters?attacked the village, leaving hundreds and perhaps thousands?dead ? including women, elderly and children. The United?Nations had sent in 400?peacekeepers, but they were vastly?outnumbered and unable to stop the assault.

The retaliation?continues. Recently, the Murle struck back, killing 57 members of the Nuer tribe.

Bol Thang told Humanosphere that the conflict is complicated?-- and South Sudan, which gained?indepence only?on July 9,?has?no police or government structure yet in place to enforce the laws.

He told Humanosphere that he sees no problem with raising money to support his tribe.

?I raised the money to support our community, to provide food and medical supplies,? he said. ?Everybody already had guns.?

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How the brain routes traffic for maximum alertness

ScienceDaily (Jan. 12, 2012) ? A new UC Davis study shows how the brain reconfigures its connections to minimize distractions and take best advantage of our knowledge of situations.

"In order to behave efficiently, you want to process relevant sensory information as fast as possible, but relevance is determined by your current situation," said Joy Geng, assistant professor of psychology at the UC Davis Center for Mind and Brain.

For example, a flashing road sign alerts us to traffic merging ahead; or a startled animal might cue you to look out for a hidden predator.

When concentrating on a specific task, it's helpful to reconfigure brain networks so that task-relevant information is processed most efficiently and external distractions are reduced, Geng found.

Geng and co-author Nicholas DiQuattro, a graduate student in psychology, used functional magnetic resonance imaging to study brain activity in volunteers carrying out a simple test. They compared their results to mathematical models to infer connectivity between different areas of the brain. The study appeared in the Dec. 7 issue of the Journal of Neuroscience.

The subjects had to look for a letter "T" in a box and indicate which way it faced by pressing a button. They were also presented with a "distractor": another letter T in a box, but rotated 90 degrees.

The distractor was either similar in appearance to the target, or brightened to be more attention-getting.

Subjects did better in trials with an "attention-getting" distractor than a less obvious one, and lit up specific areas of the brain accordingly.

The new work shows that the brain doesn't always "ramp up" to deal with the situation at hand, Geng said. Instead, it changes how traffic moves through the existing hard-wired network -- rather like changing water flow through a network of pipes or information flow over a computer network -- in order to maximize efficiency.

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Journal Reference:

1. N. E. DiQuattro, J. J. Geng. Contextual Knowledge Configures Attentional Control Networks. Journal of Neuroscience, 2011; 31 (49): 18026 DOI: 10.1523/JNEUROSCI.4040-11.2011

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/qH9Pbd_oVfk/120112142259.htm

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James O'Keefe Commits Voter Fraud to 'Prove' Voter Fraud (Little green footballs)

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Aha Radio in the Subaru BRZ hands-on (video)

Aha Radio announced this week that it'll be an optional extra in 2013 Subaru and Honda autos. Vehicles so equipped will have the ability to listen to thousands of web radio stations and apps -- like Slacker and MOG -- alongside the regular AM / FM and satellite radio rotation. A short jaunt from our trailer at CES, we grabbed a quick demo with a Subaru representative aboard the 2013 BRZ.

Just like using Aha without the car, you'll need an iOS or Android device outfitted with the app, which uses that device's data connection to stream those audial bits. Once connected over USB or Bluetooth, however, the updated app now allows all of that content -- including stations you've previously pre-selected as favorites -- to be accessible via vehicle's built-in infotainment system. Setup was a breeze, but the only caveat is that data connection, which par for the course for CES, wouldn't play ball. Still, for the brief time we were able to connect, we streamed NPR and found the UI certainly workable. And before you ponder the ramifications of futzing with a touchscreen while driving, know that it's accessible via controls mounted on the steering wheel. This makes for a somewhat safer media selection-option as you cruise up and down the Vegas strip. A couple shots of it in action await below, followed by a video after the break.

Gallery: Hands-on with Aha Radio in a Subaru BRZ

Continue reading Aha Radio in the Subaru BRZ hands-on (video)

Aha Radio in the Subaru BRZ hands-on (video) originally appeared on Engadget on Wed, 11 Jan 2012 21:53:00 EDT. Please see our terms for use of feeds.

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Oil prices rise on Nigeria supply concerns

NEW YORK (AP) ? Oil prices are climbing Thursday as striking oil workers threaten to shut down production in Nigeria.

Nigeria is the fifth-largest oil exporter to the United States, and a shutdown would force American refineries to replace 630,000 barrels per day of crude. Nigerian workers, who have been protesting a removal of government fuel subsidies, plan to cut off oil production starting Sunday.

Benchmark crude jumped by $1.47 to $102.35 per barrel in New York. Brent crude rose by $2.32 to $114.38 per barrel in London.

Natural gas prices continued to drop as mild winter weather cuts into heating demand. Prices fell by another 4.4 cents to $2.73 per 1,000 cubic feet.

Meanwhile, U.S. gasoline prices rose by a penny to a national average of $3.38 per gallon.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-12-Oil%20Prices/id-03e3b790a78946dea1e3db281c379cc2

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BofA prunes senior ranks in Asia investment banking: sources (Reuters)

HONG KONG (Reuters) ? Bank of America-Merrill Lynch (BAC.N), the second-largest U.S. bank by assets, is cutting around a fifth of its managing directors across its Asia investment banking division, sources said on Monday, in a bid to cut costs as the outlook sours in a once-booming region.

Foreign banks in Asia stepped up their cost cutting in the latter part of last year and are now moving up the experience chain to prune positions and units seen as too expensive in the current environment.

Some 15 of BofA's 75 Asia managing directors in that unit will be gone by end-March through early retirement, transfer or the standard pink slip, according to three sources with direct knowledge of the matter. Among the departures is managing director Michael Cho, a veteran Merrill Lynch Asia M&A banker.

Headhunters interviewed by Reuters said the bank's reduction in its ranks of managing directors in Asia was a deeper-than-usual cull of senior bankers, but reflects the broad challenges the investment banking industry faces.

"That sounds like carnage," said Richard Broadhurst, who runs Hong Kong-based Initiative Recruitment.

TOP TITLE

Cho was the co-head of mergers and acquisitions in Asia ex-Japan, Australia and India and was appointed to the role in May 2009. His departure would represent one of the most senior Asia Pacific investment bankers to leave his post since the region wide cuts began in the fall.

Dow Jones first reported Cho's departure on Monday.

Cho could not immediately be reached for comment. Cho's co-head, Zhang Xiuping, will remain with BofA, the source said.

In a unique move, BofA is putting some of its analysts and associates - typically the youngest and newest members of a bank - into a general pool rather than assign them to a specific team, the sources said. This would allow the bank to set these younger bankers to any urgent and fee-producing work for any part of the business, rather than have them wait for their unit to see better demand.

Managing director is the top title attained at most investment banks, and in good years guarantees pay of $1-$3 million, including bonus. The title is earned for years of hard work or a shorter period of significant fee in-take.

But in leaner times or during a business restructuring or repositioning, MDs are targeted as the most expensive employees and the quickest way to reduce a significant cost. MDs who are not directly involved with client relationships that bring in revenue are usually the first to go.

BofA began its round of investment banking cuts in Asia on Monday, said the sources, who did not want to be identified as they were not authorized to speak publicly about the matter.

The move is consistent with what BofA is doing globally as it aims to streamline the corporate and investment banking businesses and reduce costs wherever it can. The cost cutting initiative, known as "New BAC", targets the reduction of 30,000 jobs, the bank has previously disclosed.

Asia's rapid economic growth allowed the region to avoid some of the large lay-off rounds triggered in the United States and Europe by the financial crisis. The region now, though, has shown that it's no longer spared from such moves.

Large banks across the world have outlined plans to cut more than 125,000 jobs this year, according to a Reuters tally.

Deutsche Bank (DBKGn.DE) and Morgan Stanley (MS.N) fired analysts and brokers at their Australian operations on Monday as part of global job cuts, said two sources with direct knowledge of the cuts.

BofA kicked off its Asia cost cutting late last year, focusing on its Global Banking and Markets division, laying off bankers in the sales and trading, fixed income and commodities trading desks.

The latest round targets the investment banking business in the region, or mergers and acquisitions, equity and debt capital markets, said the sources.

Bank of America, which has around 6,000 employees across Asia, declined to comment.

BofA shares have slumped to around $6 each from more than $15 a year ago and almost $55 five years ago.

Separately, the bank has named Graham Seaton as head of its Asia Pacific prime brokerage, according to an internal memo seen by Reuters and confirmed by BofA spokesman Mark Tsang.

Seaton, who joined BofA in 1999, will be based in Hong Kong and report to Brian Canniffe, head of Asia Pacific Financing and Futures, and Soofian Zuberi, head of Asia Pacific Global Markets Sales & Structuring.

(Additional reporting by Saeed Azhar in SINGAPORE, Nishant Kumar and Denny Thomas in HONG KONG, Editing by Ian Geoghegan and Matt Driskill)

Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/nm/20120110/bs_nm/us_bofa_asia

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