LAGOS, Nigeria (AP) — Hyundai Heavy Industries Co. paid about $187,000 to free four abducted South Korean workers and their local colleague, a lucrative ransom showing the continuing allure of kidnapping in Nigeria's oil-rich southern delta, police said Friday.South Korean officials declined to say whether they paid a ransom when announcing the hostages' release on Dec. 22, following the pattern of...
BAMAKO, Mali (AP) — An Islamist group in northern Mali says it's suspending its pledge to halt hostilities less than a month after it agreed to do so. The group Ansar Dine said negotiations with the Malian government are ultimately aimed at a military intervention to oust the Islamists from the West African nation and are not true peace talks. Still, the group said it remains committed to a dialogue with the Malian government in Bamako even though it is keeping its military options open. The original offer had drawn skepticism from some observers, who noted the group's links to al-Qaida's North Africa branch. Ansar Dine, which says it seeks autonomy for northern Mali, has been behind public executions, amputations and whippings in the aDifferent challenges in Central African Rep., Mali rea that it seized last year.
Labels: WorldBANGUI, Central African Republic (AP) — Two land-locked, desperately poor African countries are gripped by rebellions in the north that have left huge chunks of both nations outside of government control. Neighboring countries are rushing troops into Central African Republic only a few weeks after rebels started taking towns but Mali's government is still awaiting foreign military help nearly one...
Mali's Islamists withdraw cease-fire pledge
Labels: WorldBAMAKO, Mali (AP) — An Islamist group in northern Mali says it's suspending its pledge to halt hostilities less than a month after it agreed to do so.The group Ansar Dine said negotiations with the Malian government are ultimately aimed at a military intervention to oust the Islamists from the West African nation and are not true peace talks. Still, the group said it remains committed to a dialogue...
Jan
03
Low prices boost SF home sales to 5-year Jan. high
Labels: BusinessHome sales in the San Francisco Bay area reached a five-year high for January, as prices and mortgage rates plunged, a real estate tracking firm reported Thursday.However, many of those purchases involved properties that were subject to foreclosures or short sales, indicating the housing market is far from recovered.The survey by San Diego-based DataQuick also showed the median sales price in the...
Why the Slowest Investors Win the Race
Labels: BusinessAnyone who attended kindergarten remembers Aesop's fable about the tortoise and the hare. The story's moral has implications for investors: Slow but steady wins the race.Hare investors try to sprint to the finish line of a comfortable retirement without girding their portfolios against the perils of volatility — frequent ups and downs in asset value. So they tend to lag far behind tortoise investors,...
US rate on 30-year mortgage hits record 3.83 pct.
Labels: BusinessWASHINGTON (AP) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's...
Jan
02
Governor sues NCAA over Penn State sex scandal
Labels: Tech Pennsylvania Governor Tom Corbett filed a lawsuit on Wednesday demanding that sanctions imposed on Penn State University over the Jerry Sandusky sex scandal be thrown out, saying they threatened to devastate the state's economy.Corbett called the sanctions imposed by the National Collegiate Athletic Association, or NCAA, which include an unprecedented $60 million fine, "overreaching and unlawful.""I...
India may suspend lawmakers accused of sex crimes
Labels: TechNEW DELHI (AP) — Indian lawmakers facing sexual assault charges could be suspended from office if the country's top court rules in favor of a petition submitted after a gang-rape and murder that shocked the country.Six state lawmakers are facing rape prosecutions and two national parliamentarians are facing charges of crimes against women that fall short of rape, said Jagdeep S. Chhokar, an official...
After ‘fiscal cliff’ drama, Republicans take it easy at closed-door meeting
Labels: TechWASHINGTON--Finally, a night of calm on Capitol Hill.Beleaguered House Republicans held a closed-door meeting on the Hill Wednesday for what turned out to be a mundane gathering that followed weeks of battles over how to avoid the so-called fiscal cliff. The members, many who just seemed relieved that the fiscal cliff ordeal was, for now, finished, discussed amendments to a series of procedural rules...
Son of LA Clippers owner found dead in Malibu
Labels: TechLOS ANGELES (AP) — The son of Los Angeles Clippers owner Donald Sterling was found dead of an apparent drug overdose at his Malibu home, authorities said Wednesday.The body of 32-year-old Scott Ashley Sterling was found shortly after 11:30 p.m. Tuesday, Los Angeles County coroner's Lt. Larry Dietz said.The 77-year-old Donald Sterling, a billionaire real estate mogul who purchased the team in 1981,...
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