JPMorgan to slash 19,000 jobs by end-2014

NEW YORK: US banking giant JPMorgan Chase plans to axe up to 19,000 jobs by the end of 2014 as it seeks to rein in costs, the company said Tuesday in an investor presentation.

JPMorgan Chase intends the majority of the cuts -- between 13,000 to 15,000 -- in the mortgage banking division, where the company spent $9.1 billion in 2012.

Another 3,000 to 4,000 jobs will be eliminated in the non-mortgage areas of its consumer and community banking division.

JPMorgan Chase estimated its full-year expenses will drop by $3 billion in 2014 from the 2012 level as the company seeks corporate and investment bank cost synergies, according to the presentation.

JPMorgan shares were down 0.5 percent in morning trade amid an overall rising market.

The Wall Street bank reported earnings of $21.3 billion in 2012, up from $19 billion a year earlier, but revenue that slightly missed market expectations.

The jump in profits came despite an embarrassing $6.2 billion trading loss stemming from a London trader nicknamed the London "whale."

The trading losses led to several resignations and reassignments and resulted in a lower 2012 take-home pay for JPMorgan chief executive Jamie Dimon.

-AFP/ac

Read More..

Jaish-e-Mohammad 'threat' to blow up Doon, Haridwar stations

DEHRADUN: Terror outfit Jaish-e-Mohammad today allegedly threatened to blow up major railway stations and places of religious and tourist interest in Uttarakhand in retaliation to the hanging of Parliament attack convict Afjal Guru, a senior police official said.

The letter written purportedly by the Karachi based area commander of terror outrfit Jaish-e-Mohammad contains a threat to blow up Dehradun, Haridwar and Kath Godam rail junctions near Nainital and prominent places of religious and tourist interest like Har Ki Pauri in the holy city, Haridwar SSP Arun Mohan Joshi told PTI.

"Though the authenticity of the threat and the origin of the letter is being examined, we are not taking any chances and have alerted the highest authorities in places mentioned in the letter", he said.

Security around the places mentioned in the letter has been beefed up.

The letter addressed to former Superintendent of Haridwar Railway station Amrinder Singh was received today, he said adding similar letters have been issued to retired railway officials in the past as well.

The difference between the latest threat letter and those received in the past is that this one has purportedly been written by Jaish-e-Mohommad whereas the earlier ones bore the name of Lashkar-e-Toiba, the SSP said.

Read More..

Sharks Warn Off Predators By Wielding Light Sabers

Diminutive deep-sea sharks illuminate spines on their backs like light sabers to warn potential predators that they could get a sharp mouthful, a new study suggests.

Paradoxically, the sharks seem to produce light both to hide and to be conspicuous—a first in the world of glowing sharks. (See photos of other sea creatures that glow.)

"Three years ago we showed that velvet belly lanternsharks [(Etmopterus spinax)] are using counter-illumination," said lead study author Julien Claes, a biologist from Belgium's Catholic University of Louvain, by email.

In counter-illumination, the lanternsharks, like many deep-sea animals, light up their undersides in order to disguise their silhouette when seen from below. Brighter bellies blend in with the light filtering down from the surface. (Related: "Glowing Pygmy Shark Lights Up to Fade Away.")

Fishing the 2-foot-long (60-centimeter-long) lanternsharks up from Norwegian fjords and placing them in darkened aquarium tanks, the researchers noticed that not only do the sharks' bellies glow, but they also had glowing regions on their backs.

The sharks have two rows of light-emitting cells, called photophores, on either side of a fearsome spine on the front edges of their two dorsal fins.

Study co-author Jérôme Mallefet explained how handling the sharks and encountering their aggressive behavior hinted at the role these radiant spines play.

"Sometimes they flip around and try to hit you with their spines," said Mallefet, also from Belgium's Catholic University of Louvain. "So we thought maybe they are showing their weapon in the dark depths."

To investigate this idea, the authors analyzed the structure of the lanternshark spines and found that they were more translucent than other shark spines.

This allowed the spines to transmit around 10 percent of the light from the glowing photophores, the study said.

For Predators' Eyes Only

Based on the eyesight of various deep-sea animals, the researchers estimated that the sharks' glowing spines were visible from several meters away to predators that include harbor seals (Phoca vitulina), harbor porpoises (Phocoena phocoena), and blackmouth catsharks (Galeus melastomus).

"The spine-associated bioluminescence has all the characteristics to play the right role as a warning sign," said Mallefet.

"It's a magnificent way to say 'hello, here I am, but beware I have spines,'" he added.

But these luminous warning signals wouldn't impede the sharks' pursuit of their favorite prey, Mueller's bristle-mouth fish (Maurolicus muelleri), the study suggested. These fish have poorer vision than the sharks' predators and may only spot the sharks' dorsal illuminations at much closer range.

For now, it remains a mystery how the sharks create and control the lights on their backs. The glowing dorsal fins could respond to the same hormones that control the belly lights, suggested Mallefet, but other factors may also be involved.

"MacGyver" of Bioluminescence

Several other species use bioluminescence as a warning signal, including marine snails (Hinea brasiliana), glowworms (Lampyris noctiluca) and millipedes (Motyxia spp.).

Edith Widder, a marinebiologist from the Ocean Research and Conservation Association who was not involved in the current study, previously discovered a jellyfish whose bioluminescence rubs off on attackers that get too close.

"It's like paint packages in money bags at banks," she explained.

"Any animal that was foolish enough to go after it," she added "gets smeared all over with glowing particles that make it easy prey for its predators."

Widder also points out that glowing deep-sea animals often put their abilities to diverse uses. (Watch: "Why Deep-Sea Creatures Glow.")

"There are many examples of animals using bioluminescence for a whole range of different functions," she said.

Mallefet agrees, joking that these sharks are the "MacGyver of bioluminescence."

"Just give light to this shark species and it will use it in any possible way."

And while Widder doesn't discount the warning signal theory, "another possibility would be that it could be to attract a mate."

Lead author Julien Claes added by email, "I also discovered during my PhD thesis that velvet belly lanternsharks have glowing organs on their sexual parts."

And that, he admits, "makes it very easy, even for a human, to distinguish male and female of this species in the dark!"

The glowing shark study appeared online in the February 21 edition of Scientific Reports.

Read More..

'93 WTC Bombing Crushed Lives, Not Memories

Edward Smith remembers vividly the call from the morgue 20 years ago today, that his pregnant wife had died in the World Trade Center bombing hours before she was supposed to start her maternity leave.

"It seems like kind of yesterday sometimes," he told ABC News, "but it seems like a long time ago, too."

Today marks the 20th anniversary of the 1993 WTC bombing, which was overshadowed eight years later by the 9/11 attacks. Six people died and about 1,000 were injured after terrorists detonated a truck bomb in the parking garage of the World Trade Center's North Tower Feb. 26, 1993.

Four of the six killed -- Robert Kirkpatrick, 61, Stephen A. Knapp, 47, William Macko, 57, and Monica Rodriguez Smith, 35 -- were employees of the Port Authority of New York and New Jersey, which owned the buildings. John DiGiovanni, 45, a dental-supply salesman visiting the World Trade Center, and Wilfredo Mercado, 37, a purchasing agent for Windows on the World restaurant, also died.

To commemorate the event, ABC News spoke with several people affected by the bombing -- a widower, a former Port Authority executive director, a plaintiff's attorney and a jury foreman -- to illustrate how the bombing resonates 20 years later.

EDWARD SMITH: Husband of pregnant Monica Rodriguez Smith, who died in the bombing.

Edward and Monica Rodriguez Smith on their wedding day, Aug. 31, 1990.

September 11: World Trade Center Time Lapse Watch Video

Edward Smith, 50, remembers where he was Feb. 26, 1993, when he heard the news.

"I was up in Boston, and I had heard there was a fire at the [World] Trade Center," Smith told ABCNews.com last week. "I turned the TV on, and eventually heard there was an actual bombing, and drove down as quickly as I could."

Smith said he couldn't reach his wife, Monica Rodriguez Smith, a secretary for a mechanical supervisor for the Port Authority of New York and New Jersey who worked in the World Trade Center, for "hours and hours."

He said he didn't hear from her or anything about her until he contacted the New York City morgue at 11:30 p.m. that evening.

"Obviously, I was informed that I should come there," Smith said.

He and his wife had been married for a little more than three years, he said, and Feb. 26 was to be Monica's last day of work before she went on maternity leave. They were expecting their first child, a boy, to be named Eddie.

"She had worked at the Port Authority for at least 12 years," Smith said. "And she had just gotten an award for never having a sick day. That was a little thing you remember."

Smith said the World Trade Center was where he met his wife the first time.

"I was a sales guy, selling to the Port Authority, and she was the admin [secretary] for one of the guys," he said. "For the first two years, she wouldn't go out with me.

"She said, 'Do you know how many knuckleheads come in here and ask me out? What makes you different?'" Smith recalled Monica's saying.

It took her two years to go out on a date with him, Smith said.

The couple tied the knot Aug. 31, 1990. Smith said he even bought the house in which he grew up on Long Island to raise their family.

But after the events of Feb. 26, 1993, Smith said, it was hard to stay in New York. Shortly after the bombing, he moved to Arizona and later to California.

"There were too many reminders, it was too much," he said.

Smith now resides in Phoenix, but makes a trip to New York every year for the memorial in February.
This year is no exception.

"It's kind of an interesting feeling," he said of the 20-year anniversary. "It seems like kind of yesterday sometimes, but it seems like a long time ago, too."

Read More..

FCC chair Genachowski looks to stay put

(Marvin Joseph - The Washington Post)
Speculation has long been swirling around who might replace Federal Communications Commission Chairman Julius Genachowski. But hold the phone — all that sturm and drang may be for naught.

It looks like he’s staying put for a bit.

Yes, technically, Genachowski’s term expires June 30. But by law, he can remain until Congress leaves town at the end of 2014. Other signs that he’s sticking around include a planned appearance at the National Association of Broadcasters conference in April, and his continued interest in the FCC’s plan to buy back television licenses and auction the spectrum to wireless providers, something we’re told Genachowski feels ownership of.

The White House is plenty busy filling all the actual vacancies that have cropped up in President Obama’s second term (starting with seven Cabinet or Cabinet-rank jobs), so finding a replacement for Genachowski apparently isn’t high on the to-do list.

For his part, Genachowski has deflected questions about when he might step down.

But for fun — and the parlor game always is, isn’t it? — here’s some of the names most often heard as potential successors: Larry Strickling, a longtime Obama supporter who now heads the National Telecommunications and Information Administration; former FCC adviser Blair Levine; Karen Kornbluh, ambassador to the Organisation for Economic Co-operation and Development; and current FCC Commissioners
Mignon Clyburn
and Jessica Rosenworcel.

But they probably shouldn’t wait by the phone.

Read More..

UN rights chief, nations condemn Security Council on Syria

GENEVA: The UN human rights chief and several nations criticised the Security Council Monday for failing to take action to halt spiralling violence in Syria and bring to justice perpetrators of abuses in the conflict.

"The Security Council has so far failed with regard to Syria," Navi Pillay told ministers at the start of a regular UN Human Rights Council session in Geneva.

Pillay said her office had pushed for the Security Council to refer the conflict to the International Criminal Court (ICC) after "repeated reports of widespread or systematic crimes and violations."

The ICC can only investigate war crimes if asked to do so by the Security Council but the body is deadlocked in its handling of the conflict by disagreements between its Western members and staunch Syrian ally Russia, plus China.

"For close to two years, the international community has failed to put a stop to the carnage," said UN General Assembly president Vuk Jeremic.

The UN estimates that more than 70,000 people have died in the two years since the Syrian government began a crackdown on anti-regime protesters.

In its latest report published this month, a UN commission of inquiry found that war crimes by both government forces and rebels were spiralling with the conflict becoming increasingly radicalised and sectarian.

It also called for the Security Council to refer the conflict to the ICC.

"For how long we, the international community, will allow this humanitarian tragedy to continue?" Turkish Foreign Minister Ahmet Davutoglu asked the council.

President Bashar al-Assad's regime "has lost its legitimacy," he said.

Davutoglu stressed that the Security Council had the responsibility to help ensure that humanitarian assistance reached all of the estimated more than four million Syrians in desperate need.

"It is incomprehensible to hinder humanitarian access," he said, calling for a Security Council resolution "to ensure humanitarian access and introduce measures to those who prevent such access."

Frans Timmermanns, the foreign minister of The Netherlands, also insisted the ICC address the Syrian crisis.

"The bloodshed must stop," he said.

Swiss Foreign Minister Didier Burkhalter said the world was witnessing a "human catastrophe, a humanitarian catastrophe".

Switzerland last month filed a petition signed by 57 countries calling for the ICC to open a case on war crimes in Syria.

Voicing support for a political solution to the conflict, Burkhalter said Switzerland was open to hosting another international meeting following one last June at which world powers agreed on a political transition plan.

-AFP/ac

Read More..

Govt trying to push through NCTC

NEW DELHI: In the wake of twin blasts in Hyderabad, the Centre has taken the initiative to restart negotiations with states for setting up the controversial anti-terror body NCTC, opposed by non-Congress states.

According to the new plan, NCTC will be kept out of the ambit of the Intelligence Bureau and will be an independent entity directly reporting to the Home Ministry.

Besides, the anti-terror body will conduct operations against any terror operatives only after taking state police into confidence, official sources said.

Home minister Sushilkumar Shinde is believed to have discussed the issue with West Bengal chief minister Mamata Banerjee, a key opponent of the project, during his two-day visit to the state from Sunday.

Shinde today stressed that the Centre was keen to introduce the NCTC to firmly deal with terrorism and said Banerjee has a 'positive mind' towards the issue.

"I had talked to her earlier also on the NCTC issue. She has a positive mind (Unka toh maan hai)," Shinde told reporters when asked if he discussed the issue with the chief minister at a meeting at Fraserganj in South 24-Parganas district. Shinde is expected to hold dialogue with Gujarat chief minister Narendra Modi, Tamil Nadu chief minister J Jayalalithaa and Orissa chief minister Naveen Patnaik, all of whom opposed to NCTC in its present form.

The Home Minister may hold separate meetings with the chief ministers to allay their apprehensions and apprise them of the revised plan for the anti-terror hub, a pet project of former Home Minister P Chidambaram. An earlier meeting of chief ministers, convened by Chidambaram, had failed to evolve consensus on NCTC.

According to the earlier proposal, the Multi-Agency Centre and the operations wing of the IB were earmarked for NCTC and the Home Ministry had passed an ordinance in March last year making the new anti-terror body a nodal organisation under the Unlawful Activities (Prevention) Act.

But it was deferred indefinitely in the face of opposition by the states.

Read More..

Picture Archive: Dorothy Lamour and Jiggs, Circa 1938

Dorothy Lamour, most famous for her Road to ... series of movies with Bing Crosby and Bob Hope, never won an Oscar. In her 50-plus-year career as an actress, she never even got nominated.

Neither did Jiggs the chimpanzee, pictured here with Lamour on the set of Her Jungle Love in a photo published in the 1938 National Geographic story "Monkey Folk."

No animal has ever been nominated for an Oscar. According to Academy Award rules, only actors and actresses are eligible.

Uggie, the Jack Russell terrier from last year's best picture winner, The Artist, didn't rate a nod. The equines that portrayed Seabiscuit and War Horse, movies that were best picture contenders in their respective years, were also snubbed.

Even the seven piglets that played Babe, the eponymous star of the best picture nominee in 1998, didn't rate. And the outlook seems to be worsening for the animal kingdom's odds of ever getting its paws on that golden statuette.

This year, two movies nominated in the best picture category had creatures that were storyline drivers with significant on-screen time. Neither Beasts of the Southern Wild (which featured extinct aurochs) or Life of Pi (which featured a CGI Bengal tiger named Richard Parker) used real animals.

An Oscar's not the only way for animals to get ahead, though. Two years after this photo was published, the American Humane Association's Los Angeles Film & TV Unit was established to monitor and protect animals working on show business sets. The group's creation was spurred by the death of a horse during the filming of 1939's Jessie James.

Today, it's still the only organization that stamps "No Animals Were Harmed" onto a movie's closing credits.

Editor's note: This is part of a series of pieces that looks at the news through the lens of the National Geographic photo archives.

Read More..

Best Moments From the Academy Awards

Host Seth MacFarlane took the stage at the 2013 Oscars with an opening monologue revealing he was ready to poke fun at the star-studded audience.

"The quest to make Tommy Lee Jones laugh begins now," he said.

But it wasn't too long before MacFarlane was interrupted. William Shatner, dressed as his iconic character Captain Kirk from "Star Trek," descended on the stage to warn MacFarlane that he was about to ruin the Oscars and be branded the worst host ever.

"The show is a disaster. I've come back in time … to stop you from ruining the Academy Awards," Shatner said.

Seth MacFarlane's Boobs Tribute

Shatner tried to steer MacFarlane away from singing an "incredibly offensive song that upsets a lot of women in the audience."

Cue MacFarlane's medley "We Saw Your Boobs," a laundry list set to music of acclaimed actresses in Hollywood who all bared their breasts in film.

MacFarlane was joined by the Gay Men's Chorus of Los Angeles to call out Meryl Streep, Anne Hathaway, Naomi Watts, Jodie Foster, Hilary Swank and countless others who we've seen nude in film.

Not every joke funnyman Seth MacFarlane made landed with the A-list crowd at the 85th annual Academy Awards.

The host elicited gasps from the crowd when he introduced "Django Unchained" as "the story of a man fighting to get back his woman, who's been subjected to unthinkable violence. Or, as Chris Brown and Rihanna call it, a date movie."

Another joke that somehow earned a too-soon nod? A throw to President Abraham Lincoln's assassination.

"I'd argue that the actor who really got inside Lincoln's head was John Wilkes Booth," MacFarlane said.

MacFarlane's jab at Mel Gibson didn't land too smoothly either. MacFarlane said the N-word laden "Django Unchained" screenplay was "loosely based on Mel Gibson's voicemails."

Oscars' Movie Musical Tribute

The theme of the 85 annual Academy Awards was celebrating music in film, and the tributes to movie musicals didn't disappoint.

Featured performers included Catherine Zeta-Jones belting "All That Jazz" from 2002's Best Picture winner "Chicago," Jennifer Hudson's show-stopping "And I'm Telling You I'm Not Going" from 2006's "Dreamgirls," and the cast of this year's Best Picture nominee "Les Miserables" reuniting on stage for "One Day More."

Introducing the Von Trapp Family

To introduce Christopher Plummer to the stage to present the award for Best Supporting Actress, MacFarlane couldn't help but make a joke out of the actor's infamous role as Captain Von Trapp in "The Sound of Music."

MacFarlane came out to announce the Von Trapp family singers, but no one came out. Instead, a man dressed in a Nazi uniform ran in to tell him that they were gone.

Kristen Stewart Hobbles on Stage to Present

When Daniel Radcliffe took the stage to present the award for Achievement in Production Design, he was joined by his hobbling co-presenter Kristen Stewart, who was seen crutching along the red carpet during the pre-show.

The "Twilight" star's makeup artist told People magazine that the actress "cut the ball of her foot, quite severely, on glass two days ago."

The Associated Press reported that backstage, Best Supporting Actress winner Anne Hathaway told Stewart to "break a leg."

Jennifer Lawrence's Unstable Victory

Jennifer Lawrence was so shocked to take home the Oscar for Best Actress that she lost her footing on her way up to the stage to accept her award.

"You guys are just standing up because I fell and that's really embarrassing," she said to the audience.

Lawrence regained her composure to give her acceptance speech, extending a special thank you to "the women this year," who she called "so magnificent and so inspiring."

Daniel Day-Lewis a Three-Peat Best Actor Winner

It was a highly anticipated win for Daniel Day-Lewis, who took home the award for Best Actor for his portrayal of Abe Lincoln in Steven Spielberg's "Lincoln."

Lewis cracked a joke in his acceptance speech, saying he was supposed to be cast as Margaret Thatcher and presenter Meryl Streep was the first choice for Lincoln.

"Meryl Streep was Steven's first choice to play Lincoln… I'd like to see that version," Lewis said.

Michelle Obama Announces Best Picture Winner

In one of the biggest surprises of the night, the Academy brought out First Lady Michelle Obama to help Jack Nicholson introduce the nominees for Best Picture.

Rocking her new bangs and a silver gown, the first lady, live from the White House, announced "Argo" as this year's Best Picture.

"It was a thrill to announce the #Oscars2013 best picture winner from the @WhiteHouse! Congratulations Argo!" FLOTUS tweeted afterwards.

Ben Affleck Triumphs at Oscars

Ben Affleck was flabbergasted by his win for Best Picture for "Argo." His frenzied, heartfelt acceptance speech resonated as he thanked his wife, Jennifer Garner, and ended on an inspirational high note.

"I want to thank my wife, who I don't normally associate with Iran. I want to thank you for working on our marriage. It is work, but it is the best kind of work," he said.

"I was here 15 years ago or something and you know I had no idea what I was doing. I stood out here in front of you all, really just a kid. I went out and I never thought I'd be back here and I am because of so many of you who are here tonight …. I want to thank them for what they taught me, which is that you have to work harder than you think you possibly can, you can't hold grudges. It's hard, but you can't hold grudges. And it doesn't matter how you get knocked down in life because that's going to happen. All that matters is that you got to get up."

Read More..

Football: Man City leave Chelsea trailing, Newcastle edge Saints

LONDON: Manchester City galvanised their grip on second place in the Premier League and trimmed Manchester United's lead back to 12 points with a 2-0 victory at home to nearest rivals Chelsea on Sunday.

After Chelsea's Frank Lampard had seen a penalty saved by England colleague Joe Hart, City prevailed through a pair of fine second-half goals from man-of-the-match Yaya Toure and substitute Carlos Tevez.

Although City's chances of retaining their league title remain decidedly slender, they now have a seven-point advantage over Chelsea, who could slip to fourth if Tottenham Hotspur overcome West Ham United on Monday.

Both City manager Roberto Mancini and his Chelsea counterpart Rafael Benitez flooded their sides with midfielders at the Etihad Stadium, while Benitez opted to leave John Terry and Fernando Torres on the bench.

City deployed Sergio Aguero as a lone striker and although he had to plough a lone furrow, it was the hosts who dominated the first half.

Visiting goalkeeper Petr Cech had to tip a header from Matija Nastasic over the bar, while Gary Cahill did well to block a goal-bound volley from Pablo Zabaleta.

City handed a rare start to Jack Rodwell and the midfielder threatened twice shortly before half-time, extending Cech with first a 25-yard drive and then a header from the resulting corner.

Chelsea were gifted an opportunity to open the scoring early in the second half when Hart was adjudged to have fouled Demba Ba, but the England goalkeeper redeemed himself with an excellent save from Lampard's spot-kick.

Aguero dinked a shot onto the roof of the net before City's enterprise finally told in the 63rd minute.

Toure collected a pass from David Silva and deftly evaded the attentions of four visiting defenders before shaping a shot around Cech that nestled in the bottom-right corner.

Tevez settled the encounter in style in the 85th minute, collecting the ball 22 yards from goal and arrowing a shot into the top-left corner.

In the day's other game, Newcastle edged relegation rivals Southampton 4-2 in a topsy-turvy game at St James' Park that took Alan Pardew's side six points clear of the bottom three.

In honour of their growing French contingent, Newcastle had dubbed the day 'French Day', handing out berets to their supporters and playing the French national anthem prior to kick-off.

However, it was a Frenchman in a red shirt who broke the deadlock, as midfielder Morgan Schneiderlin converted a Rickie Lambert knockdown to give Southampton a third-minute lead.

Newcastle's reaction was swift and in the 32nd minute they went ahead thanks to two French players of their own.

Yoan Gouffran forced a save from Artur Boruc after darting into the box from the left and when the ball ran across goal, Moussa Sissoko sped in to touch it over the line.

The hosts' momentum did not abate and in the 42nd minute they went ahead with a stunning goal, as Papiss Cisse cracked home a looping half-volley from 25 yards.

Newcastle lost captain Fabricio Coloccini to injury just before half-time and saw Southampton equalise five minutes into the second half when Lambert swept home a low cross from Adam Lallana.

However, Newcastle hit back once again and took the lead for the second time in the game when Yohan Cabaye converted a 67th-minute penalty awarded for a handball by Danny Fox.

The suspense in a stretched game finally dissipated in the 79th minute, when an own goal by Jos Hooiveld put Newcastle 4-2 ahead and confirmed the hosts' success.

- AFP/fa

Read More..