WTO may not be ideal platform to deal with currency issue

BEIJING: The World Trade Organisation (WTO) may not be the ideal platform to deal with the issue of currency manipulation, according to Costa Rica's Foreign Trade Minister Anabel Gonzalez, who is in the running to be WTO Director-General.

She was in Beijing to meet Chinese authorities to garner their support.

As the global economy slows and countries scramble to boost exports, trade friction is likely to escalate.

That's particularly the case with the world's largest exporter and second largest trading nation -- China.

Competitors often point to China as unfairly subsidizing its exports via the undervalued yuan.

But Costa Rica's candidate for the top job at the WTO said the trade organization might not be equipped with the tools to tackle the issue.

Anabel Gonzalez said: "I would be cautious in terms of looking at it in the context of the WTO.

"This issue of exchange rates is normally associated with monetary policies, fiscal policies, financial policies, and in that regard I think there may be other venues that are better suited to deal with these issues, be it, meetings of central bankers, ministers of finance, the IMF, the G20."

In Beijing to gain support for her candidacy, Ms Gonzalez said China has achieved a huge transformation over the past decade.

However, trade reform is a long-term process. A recent report on China by the WTO noted a decrease in the number of state-owned enterprises. But still, a significant number of them remain, particularly in sectors regarded as vital to the national economy.

As China's goals change, placing priority on moving up the industrial value chain, liberalizing the market may take a backseat. For instance, state supported financing and cheap land may be seen as unfairly giving home-grown companies a leg up.

Costa Rica's foreign trade minister said: "Each country can, of course, decide what are the best actions and policy measures to continue to promote growth and development in its own country.

"From the perspective of WTO system, the important part is that this is done in a way that respects the rules and disciplines of the organization."

The Costa Rican is among nine candidates vying to succeed Pascal Lamy when he steps down as head of the WTO at the end of August.

- CNA/al

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Statistics wizard Nate Silver gives his Oscar predictions

Nate Silver at work. (Credit: CBS News)

With great precision FiveThirtyEight's Nate Silver predicted which states President Obama would win in his second-term election. Now he is applying his statistical-analysis methods to predicting who will take home the Oscars on Sunday.

Silver has made Oscar predictions in the past, but with only 75 percent accuracy. By comparison, he picked all 50 state winners in the 2012 presidential election. Silver refined his Oscar prediction models this year by assigning weights to the glut of movie awards that precede the Oscars, similar to how he weighted the various polls in calculating his election predictions. Silver explained:

These patterns aren't random: instead, the main reason that some awards perform better is because some of them are voted on by people who will also vote for the Oscars. For instance, many members of the Screen Actors Guild will vote both for the SAG Awards and for the Oscars. In contrast to these "insider" awards are those like the Golden Globes, which are voted upon by "outsiders" like journalists or critics; these tend to be less reliable.

Silver is giving the best-picture edge to "Argo," best actor to Daniel Day-Lewis, and best supporting actress to Anne Hathaway by wide margins. His results are in line with what the movie critics have been predicting. The competitions for best actress, best director, and best supporting actor, however, will be closer races, according to his calculations. Those awards will be the true test of Silver's Oscar prediction prowess.

(Credit: Nate Silver/New York Times)

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Georgia executes man lawyers claimed was mentally ill

JACKSON, Ga. A 38-year-old inmate convicted of killing two college students in 1995 was executed in Georgia on Thursday, apologizing to the families of both victims before being injected at a state prison.

Andrew Allen Cook was pronounced dead at 11:22 p.m., about 14 minutes after he was injected with the sedative pentobarbital. He was the first inmate to be executed since the state changed its procedure in July from a three-drug combination to a single dose.

With his last words, he apologized to the families of Mercer University students Grant Patrick Hendrickson, 22, and Michele Lee Cartagena, 19, who were shot several times as they sat in a car at Lake Juliette, which is about 75 miles south of Atlanta. He said what he did was senseless.

"I'm sorry," Cook said as he was strapped to a gurney. "I'm not going to ask you to forgive me. I can't even do it myself."

He also thanked his family for "their support, for being with me and I'm sorry I took so much from you all."

The Georgia Appeals Court on Wednesday temporarily stayed Cook's execution to consider a challenge to the state's lethal injection procedure. But the Georgia Supreme Court lifted the stay Thursday and all other appeals were exhausted.

Cook's lawyers have argued at various stages in their appeals of his death sentence that he suffered from mental illness and was being treated for depression up to the time of his death.

Mary Hendrickson, the mother of one of the victims, recently told television station WMAZ-TV in Macon she's been waiting 18 years for justice.

"I think that's what it was: the devil's work," she said. "When all that is going on, I was just thinking to myself, 'Well, the devil is not going to win. He's not going to win over my heart. He is not going to win."'

The single-drug injection began at about 11:08 p.m. Cook blinked his eyes a few times, and his eyes soon got heavy. His chest was heaving for about two or three minutes as his eyes closed. Not too long after, two doctors examined him and nodded and Carl Humphrey, warden of the state prison in Jackson, pronounced him dead.

Corrections officials said Thursday evening that Cook had received visits from family earlier in the day and ate the last meal he had requested -- steak, a baked potato, potato wedges, fried shrimp, lemon meringue pie and soda.

A jury sentenced Cook to death after he was convicted in the January 2, 1995 slayings at Lake Juliette. Cook wasn't charged until more than two years later. He confessed to his father, a Macon FBI agent who ended up testifying at his son's trial.

The Georgia Bureau of Investigation reached out to John Cook in December 1995 because they were interested in speaking to his son. When he called his then-22-year-old son to tell him the GBI wanted to talk to him, he had no idea the younger man was considered a suspect.

"I said, 'Andy, the GBI is looking for you concerning the Lake Juliette homicide. Do you know anything about it?"' John Cook testified at his son's trial in March 1998. "He said, 'Daddy, I can't tell you. You're one of them. ... You're a cop."'

Eventually, Andrew Cook told his father that he knew about the slayings, that he was there and that he knew who shot the couple, John Cook recalled.

"I just felt like the world was crashing in on me. But I felt maybe he was there and just saw what happened," he said. "I then asked, 'Did you shoot them?'

"After a pause on the phone, he said, 'Yes."'

As a law enforcement officer, John Cook said he was forced to call his supervisor and contacted the Monroe County sheriff.

At the trial, as he walked away from the stand, the distraught father mouthed "I'm sorry" to the victims' families who were sitting on the front row of the courtroom. Several members of both families acknowledged his apology.

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3 Dead in Rolling Gun Battle on Vegas Strip

A drive-by shooting on the Las Vegas strip early this morning by the occupants of a Range Rover SUV, who shot at the occupants of a Maserati, caused a multi-car accident and car explosion that left three dead.

Police said that they believe a group of men riding in a black Range Rover Sport SUV pulled up alongside a Maserati around 4:20 a.m. today and fired shots into the car, striking the driver and passenger, according to Officer Jose Hernandez of the Las Vegas Metropolitan police department.

The Maserati then swerved through an intersection, hitting at least four other cars. One car that was struck, a taxi with a driver and passenger in it, caught on fire and burst into flames, trapping both occupants, Hernandez said.

Raw Video: Las Vegas Shooting Caught on Tape Watch Video

The SUV then fled the scene, according to cops.

The driver of the Maserati died from his gunshot wounds at University Medical Center shortly after the shooting, according to Sgt. John Sheahan.

The driver and passenger of the taxi both died in the car fire.

At least three individuals, including the passenger of the Maserati, were injured during the shooting and car crashes and are being treated at UMC hospital.

Police are scouring surveillance video from the area, including from the strip's major casinos, to try and identify the Range Rover and its occupants, according to police.

They do not yet know why the Range Rovers' occupants fired shots at the Maserati or whether the cars had local plates or were from out of state.

No bystanders were hit by gunfire, Hernandez said.

"We're currently looking for a black Range Rover Sport, with large black rims and some sort of dealership advertising or advertisement plates," Hernandez said. "This is an armed and dangerous vehicle."

The Las Vegas Convention and Visitors Authority had no immediate comment about the safety of tourists in the wake of the shooting today.

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Nigerian troops surround French family's kidnappers: source

YAOUNDE/MAIDUGURI, Nigeria (Reuters) - Nigerian security forces surrounded the kidnappers of a French family in northeast Borno state on Thursday in an operation to rescue the hostages, a Nigerian military source said.

French, Nigerian and Cameroonian officials earlier denied French media reports that the family, who were seized in Cameroon and taken over the border, had been freed.

The Nigerian military located the hostages and kidnappers between Dikwa and Ngala in the far northeast, the military source in Borno said, asking not to be identified.

Dikwa is less than 80 km (50 miles) from the border with Cameroon where the three adults and four children were taken hostage on Tuesday.

A senior Cameroonian military official declined to comment saying the matter was too sensitive.

Citing a Cameroon army officer, French media reported earlier on Thursday that the hostages had been found alive in a house in northern Nigeria.

"This is a crazy rumor that we cannot confirm. We do not know where is it coming from," Cameroon Communications Minister Issa Tchiroma Bakary told Reuters by telephone from the capital Yaounde.

"What is certain is that the French tourists who were abducted are no longer on our territory. However, we are in touch with the Government of Nigeria to intensify measures to continue the search for them along our common border," he said.

French gendarmes backed by special forces arrived in northern Cameroon on Wednesday to help locate the family, a local governor and French defense ministry official said.

Nigerian military spokesman Sagir Musa earlier also said the report on France's BFM television of the hostages being released was "not true," while Didier Le Bret, the head of the French foreign ministry's crisis center, said the information was "baseless."

The abduction was the first case of foreigners being seized in the mostly Muslim north of Cameroon, a former French colony.

But the region - like others in West and North Africa with porous borders - is considered within the operational sphere of Boko Haram and fellow Nigerian Islamist militants Ansaru.

On Sunday, seven foreigners were snatched from the compound of Lebanese construction company Setraco in northern Nigeria's Bauchi state, and Ansaru took responsibility.

Northern Nigeria is increasingly afflicted by attacks and kidnappings by Islamist militants. Ansaru, which rose to prominence only in recent months, has claimed the abduction in December of a French national who is still missing.

Three foreigners were killed in two failed rescue attempts last year after being kidnapped in northern Nigeria and Ansaru, blamed for those kidnaps, warned this could happen again.

The threat to French nationals in the region has grown since France deployed thousands of troops to Mali to oust al Qaeda-linked Islamists who controlled the country's north.

The kidnapping in Cameroon brought to 15 the number of French citizens being held in West Africa.

(Reporting By Emile Picy and Nicholas Vinocur in Paris; Additional reporting by Joe Brock in Abuja and Bate Felix and John Irish in Dakar; Writing by Bate Felix and John Irish; Editing by Angus MacSwan)

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Three killed in Las Vegas 'rolling shootout'

LOS ANGELES: At least three people were killed and three others injured in a "rolling shootout" and multiple car crash on the renowned Las Vegas strip early Thursday, city police said.

Two speeding cars, including a Maserati, were involved in a shootout in the neon-lit casino and hotel zone around Las Vegas Boulevard near Flamingo Road, Metro Las Vegas Police Sergeant John Sheahan told local broadcast news.

"Before 4:30am this morning, there was apparently a rolling gun-battle on the strip," Sheahan told the local ABC and CBS TV news affiliates.

The Maserati driver, who was struck by gunfire, lost control of the vehicle and struck several cars, including a taxi that burst into flames. The Maserati driver and two people aboard the taxi were killed.

The other vehicle fled the scene and police will investigate surveillance footage to identify it, Sheahan said. Local television news citing police sources said officers were hunting for a black Range Rover.

The passenger aboard the Maserati and at least two other people were injured and take to hospital. Three other vehicles were struck and at least two more people were at the hospital being treated for other injuries, Sheahan said.

Police do not yet know the identity nor motive of the shooters. "This is still very, very early in this investigation," Sheahan said.

- AFP/fa

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Microsoft is cooler than it used to be, say half of those polled

Microsoft's Surface Pro tablet.

(Credit:
Best Buy)

Is Microsoft a cooler company than it was in the past? Some people certainly think so.

Among 853 people between the ages of 18 and 29 questioned in a Reuters/Ipsos poll, half believe the software giant is cooler than it was a year or two ago. Though 50 percent may not be a resounding endorsement, it topped the coolness factor for a couple of other tech players.

Twitter was deemed cooler than in the past by 47 percent of the young adults polled, while Facebook got the same response from just 42 percent.

Microsoft's score is a promising sign. The company is often seen as having lost its cool factor years ago, thwarted by more innovative competitors. Even chairman and co-founder Bill Gates said this week that he was not satisfied with the company's lack of innovation in certain areas.

But Reuters believes some of the new Microsoft products may be changing that perception.

In particular, the report pointed to Microsoft's savvy marketing push for its Surface
tablets as well as the
Xbox 360 and Kinect combo, which has proven popular among younger gamers.

So, which high-tech brand name was the coolest?

Google's
Android took top honors, considered cooler than it used to be by a full 70 percent of those 18 to 29. Apple followed, getting the nod from 60 percent of the young adults questioned.

Still, coolness doesn't necessarily mean higher sales.

The poll "definitely shows that Microsoft's efforts are paying off, but we'll have to see how cool translates into customers," Gartner analyst Michael Gartenberg told Reuters. "It's also hard to compare 'cool' factor as a quantitative measure against Apple, a company, and Android, a platform."

Conducted between February 5 and 19, the poll was designed to gauge the perception and use of different technology brands and received responses from 4,798 people in total.

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Winter storm brings heavy snow to Midwest

Updated at 8:47 a.m. ET

ST. LOUIS Parts of the nation's heartland awoke Thursday to more than half a foot of snow, as a large storm made its way eastward out of the Rockies, snarling traffic for morning commuters and allowing an army of children to trade pen and paper for shovel and sled, at least for a day.

Winter storm warnings were issued from Colorado through Illinois, and many school districts cancelled classes ahead of time, in anticipation of the more than a foot of snow expected to fall in some places.

CBS News weather consultant David Bernard reported on "CBS This Morning" Thursday that very heavy snow squalls were moving across Wichita, Kan., and further north into Kansas City, Mo., where it looks like it's going to snow hard for about the entire day.

Forecast models show the snowstorm pivoting from the southwest to the northeast throughout the morning and afternoon hours, so Wichita would see improvement late Thursday, but northeastern Kansas and most of Missouri would be looking at heavy snowfall until at least Thursday night, Bernard reports.

Kelly Sugden, a National Weather Service meteorologist in Dodge City, Kan., said early Thursday that the storm that had already dumped heavy snow on Colorado.

"It's very active," Sugden said, noting the snowfall was mixed with lightning and sleet showers.

Kansas' capital, Topeka, had little more than a dusting of snow after dawn, but in the town of Rozel, roughly 210 miles west, 6 1/2 inches had already been reported fallen.

Sugden said that while forecasters weren't expecting blizzard conditions to develop in Kansas, the Interstate 70 corridor could get as much as 13 inches of snow, and large drifts would make driving very dangerous.

In Oklahoma on Wednesday, roads were covered with a slushy mix of snow and ice that officials said caused a crash that killed an 18-year-old driver, Cody Alexander.

Alexander, of Alex, Okla., skidded in his pickup truck into oncoming traffic on State Highway 19 and was hit by a truck and killed, the Oklahoma Highway Patrol said. The other driver wasn't seriously injured.

In northern Arkansas, a school bus crashed Wednesday on a steep, snowy country road, leaving three students and the driver with minor injuries. Pope County Sheriff Aaron Duval said the bus slid off a road on Crow Mountain, nearly flipping before it was stopped by trees at the roadside.

The weather service warned that freezing rain could lead to a half-inch or more of ice accumulating Thursday in central and northern Arkansas, making travelling particularly dangerous.

Officials said the storm could be the Midwest's worst since a two-day storm that began Feb. 1, 2011. That storm was blamed for about two dozen deaths and left hundreds of thousands without power, some for several days. At its peak, the storm created white-out conditions so intense that Interstate 70 was shut down across the entire state of Missouri.

Tim Chojnacki, spokesman for the Missouri Department of Transportation, said it planned to have salt trucks on the roads before the storm arrived in the Show-Me State in hopes that the precipitation would largely melt upon impact.

Much of Kansas was expected to get up to a foot of snow, which many rural residents welcomed after nearly a year of drought.

Jerry and Diane McReynolds spent part of Wednesday putting out more hay and straw for newborn calves at their farm near Woodston in north central Kansas. The storm made extra work, but Diane McReynolds said it would help their winter wheat, pastures and dried-up ponds.

"In the city you hear they don't want the snow and that sort of thing, and I am thinking, 'Yes, we do,' and they don't realize that we need it," she said. "We have to have it or their food cost in the grocery store is going to go very high. We have to have this. We pray a lot for it."

Meanwhile, a separate snow storm caught many drivers by surprise in California, leaving hundreds stranded on mountain highways. A 35-mile stretch of Highway 58 between Mojave and Bakersfield was closed Wednesday, and several school districts closed. No injuries were reported.

Schools also were closed in northern Arizona and Colorado with snow there. Mindy Crane, a spokeswoman for the Colorado Department of Transportation, said hundreds of plows had been deployed for what was expected to be one of the most significant snow storms of the season.

Just the threat of snow led to a series of shutdowns in the middle of the country. Kansas Gov. Sam Brownback closed state government from Thursday morning through Friday morning and urged residents to stay off the roads.

Lawmakers in Nebraska and Iowa cancelled committee meetings and hearings, and the Arkansas Senate voted to recess until Monday so lawmakers could make it home before the worst of the storm hit. University of Nebraska officials moved a Big Ten men's basketball game against Iowa from Thursday to Saturday.

National Weather Service meteorologist Jayson Gosselin said precipitation is generally expected to drop off as the storm makes its way east. Chicago and parts of Indiana, he said, could get about 2 inches of snow and some sleet.

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Pistorius Shots Said to Come From High Angle

At the second day of a bail hearing for Olympian Oscar Pistorius, a South African investigator who arrived at the scene of the Feb. 14 fatal shooting said that Reeva Steenkamp was shot from a high angle, which prosecutors say contradicts the runner's account that he was not wearing his prosthetics when he shot his girlfriend to death.

Pistorius, a double-amputee who runs on carbon-fiber blades, appeared in court for the second day in a row after his arrest in the death of girlfriend Steenkamp at his gated home in Pretoria, South Africa.

Read Oscar Pistorius' Full Statement to the Court

PHOTOS: Paralympic Champion Charged in Killing

Arresting officer Hilton Botha told the court today that the 26-year-old was standing in the master bathroom when he shot the supermodel, who was crouched in a defensive position behind a locked door in a smaller powder room. He also said that the bullets that were fired had been fired from high up, and the bullets seemed to be coming in a downward direction.

"[The angle] seems to me down. Fired down," Botha told the court.

Pistorius said Tuesday that he went to the bathroom and fired through the door before putting on his prosthetic legs.

Oscar Pistorius: Defense Presents New Evidence Watch Video

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He said he mistakenly shot his girlfriend, thinking she was an intruder.

Prosecutors also said that they found two boxes of testosterone in the bedroom, although the defense disputes that, saying it's just herbal supplements.

The court also heard that a witness, someone about 2,000 feet away from Pistorius' home, heard nonstop fighting the morning of the shooting.

"We have a witness who says she heard non-stop shouting and fighting between 2 and 3 a.m.," said prosecutor Gerrie Nel, who added that another witness saw lights on at the time of the gunshots.

Pistorius says he spent a quiet night with Steenkamp before the shooting.

Nel said that Pistorius' actions and phone calls on the night indicate pre-planning, and that there was a "deliberate aiming of shots at the toilet from about 1.5 meters [about 5 feet]."

He says Steenkamp was shot on the right side of her body.

Officer Botha also said Pistorius should be considered a flight risk because investigators discovered that he has offshore bank accounts and a house in Italy.

"I think it would be hard to get him back," Botha told the court. "This is a very serious crime, shooting an unarmed woman behind closed door."

Prosecutors also say they may file more charges for unlicensed ammunition, after a special-caliber .38 round was found in a safe in Pistorius' home.

Botha told the court today that he arrived at Pistorius' home at 4:15 a.m. Valentine's Day to find Steenkamp already dead, dressed in a white shorts and a black vest, and covered in towels. The only thing that Pistorius said was, 'I thought it was a burglar,'" according to Botha.

The 26-year-old sprinter Tuesday denied that he willfully killed Steenkamp, telling the court that he shot the woman through his bathroom door because he believed she was an intruder.

Botha said today that he attended Steenkamp's postmortem, and that she had three entrance wounds: one on the head, one in the elbow and one in the hip.

Describing the scene to the court, Botha said that the shots fired into the bathroom were aimed at the toilet bowl.

The shooter "would have to walk into the bathroom and turn directly at the door to shoot at the toilet the way the bullets went," he said.

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Bulgarian government resigns amid growing protests

SOFIA (Reuters) - Bulgaria's government resigned on Wednesday after mass protests against high power prices and falling living standards, joining a long list of European administrations felled by austerity during four years of debt crisis.

Prime Minister Boiko Borisov, an ex-bodyguard who took power in 2009 on pledges to root out graft and raise incomes in the European Union's poorest member, faces a tough task of propping up eroding support ahead of an expected early election.

Wage and pension freezes and tax hikes have bitten deep in a country where earnings are less than half the EU average and tens of thousands of Bulgarians have rallied in protests that have turned violent, chanting "Mafia" and "Resign".

Moves by Borisov on Tuesday to blame foreign utility companies for the rise in the cost of heating homes was to no avail and an eleventh day of marches saw 15 people hospitalized and 25 arrested in clashes with police.

"My decision to resign will not be changed under any circumstances. I do not build roads so that blood is shed on them," said Borisov, who began his career guarding the Black Sea state's communist dictator Todor Zhivkov.

A karate black belt, Borisov has cultivated a Putin-like "can-do" image since he entered politics as Sofia mayor in 2005 and would connect with voters by showing up on the capital's rutted streets to oversee the repair of pot-holes.

But critics say he has often skirted due process, sometimes to the benefit of those close to him, and his swift policy U-turns have wounded the public's trust.

The spark for the protests was high electricity bills, after the government raised prices by 13 percent last July. But it quickly spilled over into wider frustration with Borisov and political elites with perceived links to shadowy businesses.

"He made my day," said student Borislav Hadzhiev in central Sofia, commenting on Borisov's resignation. "The truth is that we're living in an extremely poor country."

POLLS, PRICES

The prime minister's final desperate moves on Tuesday included cutting power prices and risking a diplomatic row with the Czech Republic by punishing companies including CEZ, moves which conflicted with EU norms on protection of investors and due process.

CEZ officials were hopeful on Wednesday that it would be able to avoid losing its distribution license after all and officials from the Bulgarian regulator said the company would not be punished if it dealt with breaches of procedure.

But shares in what is central Europe's largest publicly-listed company fell another 1 percent on Wednesday.

If pushed through, the fines for CEZ and two other foreign-owned firms will not encourage other investors in Bulgaria, who already have to navigate complicated bureaucracy and widespread corruption and organized crime to take advantage of Bulgaria's 10-percent flat tax rate.

Financial markets reacted negatively to the turbulence on Wednesday. The cost of insuring Bulgaria's debt rose to a three-month high and debt yields rose some 15 basis points, though the country's low deficit of 0.5 percent of gross domestic product means there is little risk to the lev currency's peg against the euro.

Borisov's interior minister indicated that elections originally planned for July would probably be pulled forward by saying that his rightist GERB party would not take part in talks to form a new government.

MILLIONS GONE

GERB's woes have echoes in another ex-communist EU member, Slovenia, where demonstrators have taken to the streets and added pressure to a crumbling conservative government.

A small crowd gathered in support of Borisov outside Sofia's parliament, which is expected to approve his resignation on Thursday, while bigger demonstrations against the premier were expected in the evening.

Unemployment in the country of 7.3 million is far from the highs hit in the decade after the end of communism but remains at 11.9 percent. Average salaries are stuck at around 800 levs ($550) a month and millions have emigrated, leaving swathes of the country depopulated and little hope for those who remain.

GERB's popularity has held up well and it still led in the latest polls before protests grew in size last weekend, but analysts say the opposition Socialists should draw strength from the demonstrations.

The leftists, successors to Bulgaria's communist party, have proposed tax cuts and wage hikes and are likely to raise questions about public finances if elected.

(Additional reporting by Angel Krasimirov; editing by Patrick Graham)

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