HSBC to probe ‘criminal’ accounts

















HSBC bank says it is looking into allegations that criminals have used offshore accounts at its Jersey operation for money laundering.













The bank issued a statement after the Daily Telegraph newspaper said it was at the centre of a major investigation by HM Revenue and Customs.


HSBC said it was investigating “an alleged loss of certain client data in Jersey as a matter of urgency”.


But it added it had not been contacted by HMRC or any other authority.


According to the Daily Telegraph, the tax authorities have obtained details of “every British client of HSBC in Jersey” based on information provided by a whistle-blower this week.


It is reported that the 4,000 offshore account holders include a well-known drug dealer living in Central America, bankers who face allegations of fraud and a man once dubbed London’s “number two crook”.


Controls issue


BBC business editor Robert Peston says: “It is really quite difficult to tell from this disclosure whether or not this is an example of HSBC yet again having, shall we say, laxer or weaker controls over who it takes money from.


“The American authorities do think HSBC was for too many years too prone, or in a sense, too easily duped by terrorists and criminals who wanted to launder money. We just don’t have enough information whether or not this is an another example of those weak controls.”


Our business editor says he has been told by HSBC that this appears to be a case of “whistle-blowers handing over bunches of bank names for whatever reasons”.


He adds: “They don’t think they will emerge from this investigation to be shown to be particularly lax in their controls.”


BBC News – Business



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Ghana building collapse traps dozens, kills 1
















ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.


Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.













The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.


Other officials told The Associated Press that the death toll was likely to rise.


An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.


A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.


“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.


President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.


The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.


The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.


Africa News Headlines – Yahoo! News



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BlackBerry 10 maker dismisses ‘dead on arrival’ comment about new device
















OTTAWA – Research In Motion turned to core supporters Wednesday in Ottawa, hoping to upsell its new BlackBerry 10 operating system as the company’s shares fell after a biting report from a securities analyst.


The company (TSX:RIM) invited federal politicians and their staff to a sneak preview of the yet-to-be-released devices, an event that RIM’s Canadian managing director acknowledged was a bit like preaching to the converted.













“Government is a critical constituency for RIM and for BlackBerry,” said Andrew MacLeod.


“It’s where we got our start, in many ways, and it’s an area that we are going to continue to innovate and deliver value.”


RIM shares fell by more than eight per cent Wednesday to $ 8.23 after a report from an analyst at Pacific Crest Securities warned the BlackBerry 10 software may be “dead on arrival.”


“We believe BB10 is likely to be DOA,” James Faucette was quoted saying in a research note obtained by Bloomberg. “We expect the new operating system to be met with a lukewarm response at best.”


MacLeod dismissed Faucette as “not a fan” and as just one voice in a varied landscape of people looking at the new platform.


“Two other analysts came out this week with some very, very positive reactions to the platform and some positive reactions to our prospects,” MacLeod told The Canadian Press.


“We’re focused on delivering value and innovating, and we think if we do that, then we’ll get the rest of the stuff to follow.”


The Waterloo, Ont.-based company’s stock had been on a rally of late, lifting steadily in the past week to a four-month high. Wednesday’s tumble nearly wiped out all of those gains.


Besides showcasing the BB10 for politicos and business people, RIM was planning to announce Thursday how it would migrate some of the key security features of its current suite of devices to the new model.


“We’re really going to make sure the core DNA — what made Blackberry so attractive to government customers, to enterprise customers — will of course be a key part of the BlackBerry 10 and architecture and system moving forward,” said MacLeod.


Meanwhile, the company said it had won U.S. security clearance for devices based on the new platform.


RIM announced early Thursday that it had received the crucial Federal Information Processing Standard certification, known as FIPS 140-2.


The certification would enable government agencies to deploy the new devices.


“This is the first time BlackBerry products have been FIPS certified ahead of launch,” RIM said.


Many political staffers, journalists and others swear by the BlackBerry over other devices for one main reason —its keyboard, which can make writing on the fly fast and easy compared with the touch screens offered by RIM’s competitors.


The BB10 line will include a touch screen option, but RIM maintains that its operating system will make typing faster than on other smart phones.


The company said earlier this month that its new BlackBerry smartphones were being tested by 50 phone carriers around the world.


RIM aims to have the new devices on store shelves in the first quarter of 2013, after the crucial holiday tech sales season.


Wireless News Headlines – Yahoo! News



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“Ode to Joy” for Royal Philharmonic Society’s 200th
















LONDON (Reuters) – The British music society that commissioned Beethoven to write his Ninth Symphony and its “Ode to Joy” announced on Wednesday it will celebrate the society’s 2013 bicentenary by showing off its manuscript of the work on both sides of the Atlantic.


The Royal Philharmonic Society, founded in London in January, 1813, also will sponsor performances of Beethoven’s last symphony, splash out on commissions of new music and will digitize its archive held at the British Library, the society announced in the London pub where its founders used to meet.













“Some of the most famous works in the classical repertoire were either commissioned by the Philharmonic Society or premiered in the UK at Philharmonic Society concerts,” John Gilhooly, the society’s Irish chairman, told reporters.


“Works by Beethoven, Mendelssohn, Schumann, Rachmaninov, Sibelius, Wagner, Brahms, Bruckner and Delius, Debussy and Shostakovich, to name but a few,” Gilhooly continued, adding that the society had commissioned “over 60 composers in the last decade alone”.


The society will participate in exhibits in New York and London featuring manuscript versions of Beethoven’s last symphony which contains the “Ode to Joy” that has become a theme song for world peace and freedom.


The society’s archives record that in 1817 it paid Beethoven 50 guineas for the work. The society, which is not publicly funded and is financed by donations, got the “royal” tag in its centenary year.


Gilhooly said a much-photographed and copied bust of Beethoven that the society owns would be making a return visit to concert stages after having been squirreled away in the RPS headquarters for most of the past 30 years.


“It’s going to be a bit like the Olympic torch,” Gilhooly said. “It’s busted out in preparation for a grand tour.”


Founded by a group of professional musicians to make classical music available to a wider audience, the RPS said it was commissioning 16 new works by such prominent composers as Harrison Birtwistle, Wolfgang Rihm and Magnus Lindberg, some of them in conjunction with the Britten-Pears Foundation which is celebrating the centenary of British composer Benjamin Britten.


“I very much admire that they are sponsoring young composers, older composers, making it possible that music, even avant garde or little known music, is written and performed,” Alfred Brendel, one of the world’s most distinguished pianists and a RPS gold medal recipient, who retired from public performance several years ago, told Reuters at the launch event.


The exhibit of letters and manuscripts will be mounted in cooperation with the British Library and the Morgan Library and the Juilliard School of music in New York, which holds another copy of the Beethoven Ninth.


The American and British manuscripts of the symphony, annotated by Beethoven, will be seen together side by side for the first time since 1824 in New York later in the year, the society said.


(Editing by Paul Casciato)


Music News Headlines – Yahoo! News



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Climate change threatens sweet smell of morning coffee
















LONDON (Reuters) – Rising temperatures due to climate change could mean wild arabica coffee is extinct in 70 years, posing a risk to the genetic sustainability of one of the world’s basic commodities, scientists said.


Although commercial coffee growers would still be able to cultivate crops in plantations designed with the right conditions, experts say the loss of wild arabica, which has greater genetic diversity, would make it harder for plantations to survive long-term and beat threats like pests and disease.













A study by researchers at Britain’s Royal Botanic Gardens at Kew in collaboration with scientists in Ethiopia found that 38 to 99.7 percent of the areas suitable for wild arabica will disappear by 2080 if predictions of rising temperatures pan out.


Because coffee is a highly climate-dependent crop, the increase of a few degrees of average temperature in growing regions can put at risk the future of Arabica coffee and the livelihood of millions of people who grow and produce it.


“The extinction of arabica coffee is a startling and worrying prospect,” said Aaron Davis, head of coffee research at the Royal Botanic Gardens, who led the study.


In a telephone interview, he said the findings made it even more important for organizations such as the World Coffee Research collaboration to continue work to improve the genetic strength of cultivated arabica by preserving wild types.


Researchers used computer modeling to analyze the influence of rising temperatures on the geographical distribution of wild arabica coffee.


The results, published in a the Public Library of Science journal PLOS ONE, showed a “profoundly negative influence” on the number and extent of wild arabica populations, the researchers said.


The researchers conducted two types of analysis. In the locality analysis, they found that the best outcome was for a 65 percent fall in the number of pre-existing bioclimatic ally suitable localities and the worst was for a 99.7 percent drop by 2080.


In the area analysis, the best outcome was a 38 percent reduction in suitable growing regions and the worst case was a 90 percent reduction by 2080.


Davis said the predictions were conservative, since the modeling did not factor in large-scale deforestation now taking place in Ethiopia and South Sudan, another Arabica coffee region.


“The models assume intact natural vegetation, whereas the highland forests of Ethiopia and South Sudan are highly fragmented due to deforestation,” the researchers wrote.


“Other factors, such as pests and diseases, changes in flowering times, and perhaps a reduction in the number of birds (which disperse the coffee seeds), are not included, and these are likely to have a compounding negative influence.”


Cultivated arabica coffee accounts for slightly more than 60 percent of global coffee production, with about 4.86 million tones produced this year and valued at around $ 16 billion in wholesale trade.


Exports of coffee also are crucial to the economies of countries including Brazil, Sudan and Ethiopia, where arabica coffee is thought to have originated.


(Additional reporting by Nigel Hunt; editing by Jane Baird and William Hardy)


Health News Headlines – Yahoo! News



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DIY homes ‘should be made easier’





























Homeowners should not consider it a “pie in the sky dream” to build their own property, according to the new housing minister.


Mark Prisk told mortgage lenders that self-built homes should be considered as one way to boost the UK housing market.


He said that only about 10% of new UK homes were self-built, compared with 60% in France and Germany.


But homebuilders and lenders said this would only ever be a niche market.


Building fund


Self-build has become more prominent through television shows such as Grand Designs and generally they involve an owner buying a plot of land and then hiring an architect to design a property.


Mr Prisk reaffirmed the government’s push for self-built homes at a conference in London organised by the Council of Mortgage Lenders.


He said that the UK was also well behind countries such as the US where 45% of new homes were self-built.


Continue reading the main story

A group of residents in Ashley Vale, in Bristol, were worried about the redevelopment of a former scaffolding site in the area.


So they formed a not-for-profit community action group which bought and developed the site itself.


When building work began on 20 self-built homes in 2001, the people involved had no trouble raising the finance.


Borrowing became more difficult when five bungalows were built about five years ago.


But in the third phase of the project two years ago, they only secured mortgages for flats and a community space when the building work was completed.


Despite the increasing difficulty in securing finance, Johanna Nicholls, who chairs the group, said that they were looking for new plots to build more affordable homes.



The government has set aside a £30m investment fund to promote self-build. Sites in North East Derbyshire and Peterborough have recently been approved for a slice of the funding.


The opportunity for individuals and communities to build their own homes was now a realistic option, he said, and lenders should give them the chance.


“I’m not pretending self-build is the entire answer, but it is an element I want to encourage you to incorporate,” he told the audience of mortgage lenders.


‘Crisis’


He said that the number of self-build mortgage products had increased.


However, the fact that these still numbered just over 20 meant that many in the industry only regarded this as niche part of the market, and nothing like sufficient to make a dent in the housing shortage.


“We welcome everyone building houses,” said Stewart Baseley, of the Home Builders Federation.


“There is plenty of room on the pitch for all these balls to be kicked about. But self-build is not the solution that will solve the housing crisis.”


Mark Clare, group chief executive of Barratt Developments, the UK’s biggest housebuilder, said that self-built homes still needed to be financed and expertise needed to put them up.


He said that there would be a one million shortfall of homes by the end of the year.


Some 110,000 homes were being built, but 250,000 new households were being created, as people lived for longer and got married later.


“This is going to get worse before it gets better,” he said.


Mr Baseley said that three times as many homes were built in the 1950s and 1960s, about half of which were for council housing.


“We are in the midst of a housing crisis,” he said.


BBC News – Business



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Canada firms to capitalize on nuclear trade with India
















NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.


Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.













“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.


A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.


This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.


India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.


Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).


It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.


However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.


PROBABLY BEATING AUSTRALIA


Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.


Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.


“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.


Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.


“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”


Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.


“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.


He also said it should open up the market to service the existing reactors in India.


Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.


Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.


“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.


($ 1 = C$ 0.9965)


(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)


Canada News Headlines – Yahoo! News



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Election over but final Florida results still not in
















MIAMI (Reuters) – Americans gave President Barack Obama a second term in office, but it still wasn’t clear early on Wednesday whether the president won the key battleground state of Florida.


The vote in the state, which introduced the terms “hanging chads” and “butterfly ballots” to the masses in its historic 2000 presidential election, was too close to call long after Republican challenger Mitt Romney conceded his loss.













Early Wednesday morning Obama was edging out Romney by about 45,000 votes, or 0.53 percentage points, out of a total of 8.27 million votes cast in Florida, with about 99 percent of the votes counted.


“It’s 1:42 in the morning and I just heard there are still people voting in Miami-Dade County,” tweeted Chris Cate, spokesman for Florida‘s Secretary of State, who is responsible for elections. “Kudos to their commitment to voting!”


The head of elections for Florida‘s Miami-Dade County, which accounts for about 10 percent of the state’s 12 million registered voters, said final results would not be available until Wednesday afternoon.


Until then, it may not be totally clear whether Obama won the state, which he carried in 2008.


At one church in Miami hundreds of voters were still in line when polls were due to close at 7 p.m.


“I believe that Obama is doing a good job and he’s going to do a better job,” said Michele Adriaanse, 59, who arrived to vote at 6.30 p.m. and finally cast her ballot shortly before midnight. “If we don’t give him the chance, things will go back to how they were,” she added.


Miami-Dade Supervisor of Elections Penelope Townsley told reporters the delay was due to “an extremely high volume of absentee ballots” and because long lines forced some precincts to remain open hours after their official closing time.


Florida accounts for 29 of the 270 votes in the electoral college a candidate needs to win the presidency. That is more than any other swing state, and by many accounts the fourth-largest state was a must-win for Romney.


Most recent polls had given Romney an edge over the incumbent in Florida, where the economic recovery has been slower than in other states and long-term unemployment has reached record highs.


But registered Democrats outnumber registered Republicans in Florida by about 5 percentage points and Romney faced multiple headwinds in the state.


A plan by Romney’s vice presidential running mate, U.S. Representative Paul Ryan, to change the Medicare health insurance program for seniors was among the factors often cited as holding back Romney’s campaign in the retiree-heavy state.


He also suffered from an inability to make inroads among Hispanic voters, outside of the state’s conservative Cuban-American community.


Florida propelled former President George W. Bush to a wafer-thin victory in 2000 when he won the state by 537 votes.


SLOW-GOING


Complaints about voting procedures, long lines to cast ballots, restrictions on early voting and some possible irregularities have been heard repeatedly across Florida. There have been no claims of anything widespread or problematic enough to cast doubt on the credibility of the Florida outcome.


It also was not immediately whether U.S. Representative Allen West – the firebrand Republican lawmaker known for his blistering attacks on Obama and other Democrats – had won one of the country’s most closely watched congressional races.


West, a darling of the conservative Tea Party movement, had amassed one of the largest campaign war chests among House Republicans. His known supporters included organizations like Americans for Prosperity, the conservative political advocacy group funded by the billionaire Koch brothers.


But he faced a tough re-election challenge against Democrat Patrick Murphy, who had hammered the first-term Republican for the intransigence that led to gridlock in Washington.


Early Wednesday morning, West, 51, was trailing by 2,000 votes out of the 318,000 ballots cast.


Murphy, a 29-year-old businessman and political newcomer, had strong backing from party headquarters and was one of the best-funded Democratic challengers in the country.


A certified public accountant whose father runs a construction company in Miami, Murphy turned the race into a referendum on West, calling the Republican an extremist member of a “do-nothing” Congress.


The battle in Florida‘s new 18th district was seen as a test of whether a high-profile – some say polarizing – conservative could win one of the biggest swing districts in a perennial swing state.


(Reporting by Tom Brown; Additional reporting by David Adams; Editing by Paul Simao)


Seniors/Aging News Headlines – Yahoo! News



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Major markets flat on Obama win

















Continue reading the main story













Major share markets were little changed after US President Barack Obama won a second term in office.


The UK’s main share index, the FTSE 100 rose by just 16 points in early trading, while Japan’s Nikkei ended down by two points.


The US dollar fell slightly, with the euro rising to $ 1.286 from $ 1.281.


Investor attention is now likely to focus on President Obama’s need to secure a deal with the US Congress over looming tax rises and spending cuts.


With the Republicans maintaining a majority in the House of Representatives, this may make negotiations to try to avoid the so-called fiscal cliff more difficult.


This could see nearly $ 600bn (£375bn) of tax increases and spending cuts hit the US economy in January.


The fear is that the tax increases and spending cuts that could be enacted if there is no agreement over deficit reduction may derail a fragile US economic recovery, and in a worst case scenario even push the economy into a recession.


“We head into the fiscal cliff, trying to find compromise where it wasn’t possible before,” said Rob Ryan, director of markets strategy, Asia-Pacific for Royal Bank of Scotland in Singapore.


Germany’s Dax index was up 48 points in early trading, while France’s Cac had rise by 35 points.


Broader concerns


Continue reading the main story

With Greece there are always a number of stages with any vote. It is a prolonged process to reach any conclusion”



End Quote Justin Harper IG Markets


The spending cuts and increased taxes are not the only concern among investors.


The US economy has been battling various other issues, not least the high levels of unemployment in the country, which have dented consumer sentiment and impacted growth.


Despite encouraging jobless numbers last week, unemployment continues to hover close to 8%.


There are concerns amongst some analysts that the jobs market may not improve anytime soon and that the recovery in the US will remain weak.


That does does not bode well for Asian economies as they rely heavily on US demand for exports and overall growth.


Euro woes


Investors have also been wary of the developments in the eurozone, where the Greek Parliament is set to vote on further budget cuts on Wednesday.


The parliament will vote on 13.5bn euros ($ 17.3bn; £10.5bn) of spending cuts, which include tax increases and cuts to pensions.


These cuts are key to determining whether Greece can get the next 31.5bn euro tranche of its European and International Monetary Fund rescue package.


Greece has warned that without this money, which will be used largely to recapitalise the country’s banks, it will be bankrupt by the middle of the month.


However, there have been protests in Greece against the proposed cuts.


Analysts said that there were fears that it may take some time before Greece is given the money.


“With Greece there are always a number of stages with any vote. It is a prolonged process to reach any conclusion,” said Justin Harper of IG Markets.


BBC News – Business



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Cautious reformers tipped for new China leadership
















BEIJING (Reuters) – China‘s ruling Communist Party will this month unveil its new top leadership team, expected to again be an all-male cast of politicians whose instincts are to move cautiously on reform.


Sources close to the leadership say 10 main candidates are vying for seven seats on the party’s next Politburo Standing Committee, the peak decision-making body which will steer the world’s second-largest economy for the next five years.













Only two candidates are considered certainties going into the party’s 18th congress, which starts on Thursday: leader-in-waiting Xi Jinping and his designated deputy, Li Keqiang, who are set to be installed as president and premier next March.


Of the remaining eight contenders, only one has the reputation as a political reformer and only one is a woman.


Following are short biographies of the candidates, including their reform credentials and possible portfolio responsibilities.


XI JINPING


REFORM CREDENTIALS: Considered a cautious reformer, having spent time in top positions in Fujian and Zhejiang provinces, both at the forefront of China‘s economic reforms.


Xi Jinping, 59, is China‘s vice president and President Hu Jintao’s anointed successor. He will take over as Communist Party boss at the congress and then as head of state in March.


Xi belongs to the party’s “princeling” generation, the offspring of communist revolutionaries. His father, former vice premier Xi Zhongxun, fought alongside Mao Zedong in the Chinese civil war. Xi watched his father purged and later, during the Cultural Revolution, spent years in the hardscrabble countryside before making his way to university and then to power.


Married to a famous singer, Xi has crafted a low-key and sometimes blunt political style. He has complained that officials’ speeches and writings are clogged with party jargon and has demanded more plain speaking.


Xi went to work in the poor northwest Chinese countryside as a “sent-down youth” during the chaos of the 1966-76 Cultural Revolution, and became a rural commune official. He went on to study chemical engineering at Tsinghua University in Beijing and later gained a doctorate in Marxist theory from Tsinghua.


A native of the poor, inland province of Shaanxi, Xi was promoted to governor of southeastern Fujian province in 1999 and became party boss in neighboring Zhejiang province in 2003.


In 2007, the tall, portly Xi secured the top job in China‘s commercial capital, Shanghai, when his predecessor was caught up in a huge corruption case. Later that year he was promoted to the party’s standing committee.


- – - -


LI KEQIANG


REFORM CREDENTIALS: Seen as another cautious reformer due to his relatively liberal university experiences.


Vice Premier Li Keqiang, 57, is the man tipped to be China‘s next premier, taking over from Wen Jiabao.


His ascent will mark an extraordinary rise for a man who as a youth was sent to toil in the countryside during Mao’s Cultural Revolution.


He was born in Anhui province in 1955, son of a local rural official. Li worked on a commune that was one of the first places to quietly revive private bonuses in farming in the late 1970s. By the time he left Anhui, Li was a Communist Party member and secretary of his production brigade.


He studied law at the elite Peking University, which was among the first Chinese schools to resume teaching law after the Cultural Revolution. He worked to master English and co-translated “The Due Process of Law” by Lord Denning, the famed English jurist.


In 1980, Li, then in the official student union, endorsed controversial campus elections. Party conservatives were aghast, but Li, already a prudent political player, stayed out of the controversial vote.


He climbed the party ranks and in 1983 joined the Communist Youth League’s central secretariat, headed then by Hu Jintao.


Li later served in challenging party chief posts in Liaoning, a frigid northeastern rustbelt province, and rural Henan province. He was named to the powerful nine-member standing committee in 2007.


- – - -


WANG QISHAN


REFORM CREDENTIALS: A financial reformer and problem solver with deep experience tackling tricky economic and political problems.


Wang Qishan, 64, is the most junior of four vice premiers and an ex-mayor of Beijing. But he has a keen grasp of complex economic issues and is the only likely member of the Standing Committee to have been chief executive of a corporation, leading the state-owned China Construction Bank from 1994 to 1997. As such, he may take a leading role in shaping economic policy, including trade and foreign investment.


Wang is an experienced negotiator who has led finance and trade negotiations as well as the Strategic and Economic Dialogue with the United States. He is a favorite of foreign investors and has long been seen as a problem solver, sorting out a debt crisis in Guangdong province where he was vice governor in the late 1990s and replacing the sacked Beijing mayor after a cover-up of the deadly SARS virus in 2003.


Wang is also a princeling, son-in-law of a former vice premier and ex-standing committee member, Yao Yilin. His possible portfolio could be chairman of the National People’s Congress (China’s rubber-stamp parliament), head of parliament’s advisory body, executive vice premier (responsible for economic issues) or the party’s top anti-corruption official.


- – - -


LIU YUNSHAN


REFORM CREDENTIALS: A conservative who has kept domestic media on a tight leash.


Liu Yunshan, 65, may take over the propaganda and ideology portfolio for the Standing Committee.


He has a background in media, once working as a reporter for state-run news agency Xinhua in Inner Mongolia, where he later served in party and propaganda roles before shifting to Beijing.


As minister of the party’s Propaganda Department since 2002, Liu has also sought to control China‘s Internet, which has more than 500 million users. He has been a member of the wider Politburo for two five-year terms ending this year.


Liu has not worked directly for the Communist Youth League, but is aligned to it through his lengthy career in an inland, poor province, long ties to the party’s propaganda system and close relationship with Hu Jintao.


- – - -


LI YUANCHAO


REFORM CREDENTIALS: A reformer who has courted foreign investment and studied in the United States.


Li Yuanchao, 61, oversees the appointment of senior party, government, military and state-owned enterprise officials as head of the party’s powerful organization department. On the Standing Committee, he could head the fight against corruption.


Li, whose father was a vice-mayor of Shanghai, has risen far since his parents were persecuted and he was a humble farm hand during the Cultural Revolution.


Politically astute, Li can navigate between interest groups, from Hu’s Youth League power base to the princelings.


As party chief in his native province, Jiangsu, from 2002 to 2007, Li oversaw a rapid rise in personal incomes and economic development, attracting foreign investment from global industrial leaders such as Ford, Samsung and Caterpillar.


He earned mathematics and economics degrees from two of China‘s best universities and a doctorate in law. He also spent time at Harvard University’s Kennedy School of Government in the United States.


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ZHANG DEJIANG


REFORM CREDENTIALS: A conservative trained in North Korea.


Zhang Dejiang, 65, saw his chances of promotion boosted this year when he was chosen to replace disgraced politician Bo Xilai as Chongqing party boss. He also serves as vice premier in charge of industry, though his record has been tarnished by the downfall of the railway minister last year for corruption.


Zhang is close to former president Jiang Zemin who still wields some influence. He studied economics at Kim Il-sung University in North Korea and is a native of northeast China.


On his watch as party chief of Guangdong, the southern province maintained its position as a powerhouse of China‘s economic growth, even as it struggled with energy shortages, corruption-fuelled unrest and the 2003 SARS epidemic.


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ZHANG GAOLI


REFORM CREDENTIALS: A financial reformer with experience in more developed parts of China.


Zhang Gaoli, 65, party chief of the northern port city of Tianjin and a Politburo member since 2007, is seen as a Jiang Zemin ally but also acceptable to President Hu, who has visited Tianjin three times since 2008. Zhang is an advocate of greater foreign investment and he introduced financial reforms in a bid to turn the city into a financial center in northern China.


He was sent to clean up Tianjin, which was hit by a string of corruption scandals implicating his predecessor and the former top adviser to the city’s lawmaking body. The adviser committed suicide shortly after Zhang’s arrival.


A native of southeastern Fujian province, Zhang trained as an economist. He also served as party chief and governor of eastern Shandong province and as Guangdong vice governor.


Zhang is low-key with a down-to-earth work style, and not much is known about his specific interests and aspirations. But with his leadership experience in more economically advanced cities and provinces, including party secretary of the showcase manufacturing and export-driven city of Shenzhen, he could be named executive vice premier.


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WANG YANG


REFORM CREDENTIALS: Seen by many in the West as a beacon of political reform.


Wang Yang, 57, is party chief of the export dependent economic hub of Guangdong province. He was not included in a list of preferred Standing Committee candidates drawn up by Xi, Hu and Hu’s predecessor, Jiang Zemin, according to sources close to the leadership, but is firmly in the running.


Born into a poor rural family in eastern Anhui province, Wang dropped out of high school and went to work in a food factory at age 17 to help support his family after his father died. These experiences may have shaped his desire for more socially inclusive policies, including his “Happy Guangdong” model of development designed to improve quality of life.


Concerned about the social impact of three decades of blistering development, he lobbied for social and political reform. However, this approach has drawn criticism from party conservatives and Wang has more recently adopted the party’s more familiar method of control and punishment to keep order.


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YU ZHENGSHENG


REFORM CREDENTIALS: Relatively low-key but considered a cautious reformer.


Yu Zhengsheng, 67, is party boss in China‘s financial hub and most cosmopolitan city, Shanghai.


His impeccable Communist pedigree made him a rising star in the mid-1980s until his brother, an intelligence official, defected to the United States. His close ties with Deng Pufang, the eldest son of late paramount leader Deng Xiaoping, spared him the full political repercussions but he was taken off the fast track.


Yu bided his time in ministerial ranks until bouncing back, joining the Politburo in 2002. However, the princeling’s age would require him to retire in 2017 after one term.


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LIU YANDONG


REFORM CREDENTIALS: Uncertain.


Liu Yandong, who turns 67 this month, is the only woman given a serious chance to join the Standing Committee but is considered a dark horse. She is a princeling also tied to President Hu’s Youth League faction.


If promoted, she could head up parliament’s advisory body, but her age would also force her to retire after only one term.


Her bigger challenge is that no woman has made it into the Standing Committee since 1949. Not even Jiang Qing, the widow of late Chairman Mao Zedong, made it that far.


Liu, daughter of a former vice-minister of agriculture, is currently the only woman in the 25-member Politburo, a minority in China‘s male-dominated political culture. She has been on the wider Politburo since 2007 as one of five state councilors, a rank senior to a cabinet minister but junior to a vice-premier.


(Reporting by Terril Yue Jones, Ben Blanchard, Benjamin Kang Lim and Sui-Lee Wee in Beijing. Additional reporting by Chris Ip, Grace Li, Jean Lin, Young Wang, Alice Woodhouse and Julie Zhu; Editing by Raju Gopalakrishnan and Mark Bendeich)


World News Headlines – Yahoo! News



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