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EU energy policy may bring 500,000 jobs

Climate Commissioner Connie Hedegaard said the EU Energy Efficiency Directive includes a commitment to retrofit a certain number of public buildings each year, improving insulation and stopping leaks.We have proposed a percentage of 3 percent a year, and that’s out of an employment perspective as well, she told Reuters at the World Economic Forum at Davos.One of the few things that can create jobs very, very fast in Europe is if you actually doing something with retrofitting pipes, retrofitting energy systems, retrofitting houses – that creates jobs very, very quickly after you have adopted these kind of policies. There are not so many other issues that can do that.With Europe’s economy in the doldrums because of the euro zone debt crisis and unemployment at 9. percent in November, politicians are desperate for ways of providing growth but unwilling or unable to pay for a stimulus package.Better insulation for Europe’s buildings would help a construction sector that needs it very badly, Hedegaard said.It’s estimated that that energy efficiency alone could generate 500,000 jobs in the years up to 2020. But we also have other initiatives in the climate field where all in all there is the potential of creating 2 million new jobs up to 2020, if we get it right.It’s a sector where they could actually have the labor in there very fast.Companies that might benefit from a revamp of public buildings include insulation specialists Kingspan Group and SIG Plc, as well as builders like German construction firm Hochtief.Cutting energy use is also an important policy aim because of the twin risks of environmental damage and reliance on expensive energy imports. The EU has put an embargo on oil imports from Iran from July, further squeezing its supplies. The retrofitting work would be supported by the EU budget and would help European governments to save money in the future by cutting wasteful energy use, as well as boosting employment. The European Parliament and EU member governments would have to back the proposal, which the European Commission launched last autumn. Denmark, the current holder of the European Union presidency, is determined to have the measure in place by the time its six month term ends in June, Hedegaard said.
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Shabby Sharapova falls at last hurdle again

In 82 shambolic minutes, as she lost the Australian Open to Victoria Azarenka on Saturday, the Russian inspired little confidence that she might ever reach her halcyon days again.Fourth seed Sharapova’s insipid 6-3 6-0 loss to the 22-year-old Belarusian followed her straight-sets thrashing by Petra Kvitova in last year’s Wimbledon final.At Wimbledon at least, the hard-hitting Sharapova went down fighting, despite being overpowered by a superior opponent.Under the bright lights of Rod Laver Arena, with a fourth grand slam title to play for and the top ranking up for grabs, the 24-year-old threw away the match.Had as much time been devoted to her polished runner-up speech as to her on-court strategy, Sharapova might have given the large centre court crowd a better show than the error-strewn performance served up.Leading 2-0 against a grand-slam-final debutante looking jumpy and nervous, Sharapova managed only one more game for the match and signed off with a backhand blasted into the net, one of 30 unforced errors.With the game slipping away from her and Azarenka drawing confidence from her opponent’s profligacy, a change of approach was needed to stall the third seed’s charge.The only adjustment the long-limbed Russian could produce, however, was to blast the ball harder straight back at Azarenka, if not halfway up the net or well out of the court.EXCUSES OFFERED0The baffling display led reporters to offer excuses in her post-match media conference. Was it nerves? Was it a bad warm-up?1I actually wasn’t nervous, I was just making errors, Sharapova, whose leadup was clouded by injury, giggled. It’s frustrating, but I have a pretty good head on my shoulders in terms of having a good perspective on sport and life. And as hard as it is and as much as you want to be the champion, there’s only one. I don’t regret the work that I put in at all. Getting to this stage is great for me, especially not having played matches for three months. I honestly didn’t know what to expect health-wise and game-wise. You just don’t know.Sharapova burst into the spotlight as a 17-year-old when she won Wimbledon in 2004 and she added the 2006 U.S. Open and 2008 Australian Open crowns before her 21st birthday.The run to the Australian Open final will mean her ranking rising to three next week, behind top-ranked Azarenka and fellow baseline pounder Kvitova.With women’s tennis under fire from all quarters, with critics targeting the rankings system and a lack of stand-out champions, Sharapova remains in the hunt to reclaim the top ranking she last held in June, 2008.Despite her pledges to bounce back, the lop-sided defeat did little to shake the perception of a lack of depth in the women’s game, however, with Serena Williams struggling for fitness and Kim Clijsters playing out her valedictory year.I’m certainly happy with the level that I produced in the six matches (before the final), Sharapova said.Everything is still a work in progress, whether I won today or not. It’s still a moving train.
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IMF leads global push for euro zone to boost firewall

Lagarde, supported by the British finance minister, George Osborne, said the IMF could boost its support for the euro zone but pressed its leaders to act first. Some attendees at the Davos Forum still doubted the viability of the currency union.Countries beyond the 17-country bloc want to see its members stump up more money before they commit additional resources to the IMF, which this month requested an additional 500 billion euros ($650 billion) in funding.Now is the time – there has been a lot of pressure building in order to see a solution come about, Lagarde told a Forum panel discussion on the economic outlook from which euro zone leaders – most notably Germany – were conspicuously absent.It is critical that the euro zone members develop a clear, simple firewall that can operate both to limit the contagion and to provide this sort of act of trust in the euro zone, so that the financing needs of that zone can actually be met, she said.Lagarde’s comments rounded out a crescendo of calls at the Davos Forum for the euro zone to boost its financial defenses. The annual five-day conference began with German Chancellor Angela Merkel deflecting pressure to do so.In a carefully worded keynote address, Merkel suggested doubling or even tripling the size of the fund may convince markets for a time, but warned that if Germany made a promise that could not be kept, then Europe is really vulnerable.On Friday, U.S. Treasury Secretary Timothy Geithner pressed Europe to make a bigger commitment to boosting its firewall.Two bankers who attended meetings with Geithner at the Forum said on Friday the United States was looking for the euro zone to roughly double the size of its firewall to 1. trillion euros. There was no immediate comment from the U.S. Treasury.Osborne said the currency bloc must beef up its firewall before other countries increase their funding to the IMF. I think the euro zone leaders understand that, said Osborne, the only European minister on Saturday’s panel discussion on the global economic outlook in 2012. There are not going to be further contributions from G20 countries, Britain included, unless we see the color of their money, he added, calling for the euro zone to provide a significant increase in available resources. MORE OPTIMISM…FOR SOME3Japanese Economics Minister Motohisa Furukawa echoed Osborne’s comments, saying: Without the firm action of Europe, I don’t think the developing countries like China or others are willing to pay more money for the IMF. On condition that the euro zone boosts its own defenses, he said Japan and other countries were willing to additional support via the IMF. Lagarde said, however, that if the international lender’s resources were boosted sufficiently, this would raise confidence to such a degree that they would not be needed.If it is big enough, it will not get used. And the same applies to the euro firewall for that matter, she added.Japanese Prime Minister Yoshihiko Noda, speaking to the Forum by video link from Tokyo, said Japan was working with South Korea and India to reduce the risk of the euro zone crisis spreading to Asia.Japan stands ready to support the euro zone as much as possible, he added.Mexico’s central bank chief, Agustin Carstens, said on Friday he believed a consensus was building on boosting the IMF’s resources to help European countries and others that might need aid from the global lender.There has been a palpable sense of hope at the Davos Forum that the euro zone is pulling back from the brink of catastrophe, though business leaders are equally worried that Europe’s woes will hold back a global recovery.Osborne saw some signs of optimism.People have commented on the mood of this conference being quite somber but having been here for a couple of days people have also pointed out that actually people are slightly more optimistic at the end of the week than the beginning, he said.However, Davos 2011 also ended on upbeat note about the euro zone and a feeling that worst of the crisis was over – only for the situation to deteriorate and financial markets to turn their fire on Italy, the bloc’s third biggest economy.The euro zone is a slow-motion train wreck, said economist Nouriel Roubini, made famous by predictions of the 2008-09 global banking crisis.He expected Greece, and possibly Portugal, to exit the bloc within the next 12 months and believed there is a 50 percent chance of the bloc breaking up completely in the next 3-5 years. Hong Kong’s Chief Executive, Donald Tsang, said no matter how strong the euro zone’s firewall is, the market will look at the nature of the economies it is protecting. If it is protecting insolvent economies…no matter how strong the firewall is, it won’t survive, he said.
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IAEA team heads to Iran to seek nuclear answers

The U.N. International Atomic Energy Agency hopes Iran, which has indicated readiness to discuss the issue for the first time since 2008, will end years of stonewalling on intelligence pointing to an intention to develop nuclear arms technology.We are trying … to resolve all the outstanding issues with Iran, in particular we hope that Iran will engage with us on our concerns regarding the possible military dimensions of Iran’s nuclear program, IAEA Deputy Director General Herman Nackaerts told reporters as he prepared to depart from Vienna airport.But Western diplomats, who have often accused Iran of using such offers of dialogue as a stalling tactic while it presses ahead with its nuclear program, say they doubt Tehran will show the kind of concrete cooperation the IAEA wants.They say Iran may offer limited concessions and transparency in an attempt to ease intensifying international pressure on the country, a major oil producer, but that this is unlikely to amount to the full cooperation that is required.The outcome could determine whether Iran will face further international isolation, or whether there are prospects for resuming wider talks between Tehran and the major powers on the nuclear dispute that has sparked fears of war.The United States and its allies suspect the program has military aims but Tehran says is for peaceful electricity generation.The chances of the IAEA’s success may depend on how badly Iran wants to avoid harder sanctions, said nuclear expert Mark Hibbs of the Carnegie Endowment for International Peace.Remarks by Supreme Leader Ayatollah Ali Khamenei’s top adviser on international affairs on Saturday suggested Iran was not in the mood for concessions.Iran’s stance towards its nuclear issue has not changed in term of fundamentals and principles, Ali Akbar Velayati said, according to the ISNA news agency. One important principle is that Iran would not relinquish or withdraw from its peaceful nuclear activities. The six-member IAEA team of senior officials and experts, headed by Nackaerts, was due to arrive in Tehran early on Sunday. The three day visit comes at a time of soaring tension between Iran and the West. The IAEA issued a report in November with details of suspected research and development activities in Iran relevant to nuclear weapons. The West has seized on the report to ratchet up sanctions aimed at Iran’s lifeblood oil exports. Iran hit back on Friday warning it may halt oil exports to Europe next week. APPEARING TO COOPERATE5The IAEA team is expected to seek explanations to the issues raised in the report, including information that Iran appears to have worked on a nuclear weapon design, and demand access to sites, officials and documents relevant to the agency’s probe.The IAEA says Iran, which has rejected the allegations as forged and baseless, has not engaged with the agency in a substantive way on these issues since August 2008 and that it keeps receiving intelligence data adding to its concerns.There were a huge number of questions raised by the November report. They will be seeking to answer those questions, and it’s incumbent on Iran to be supportive, U.S. State Department spokeswoman Victoria Nuland said this week.IAEA Director General Yukiya Amano has called on Iran to show a constructive spirit in the meeting and Iran has said it is willing to discuss any issues of interest to the U.N. agency, including the military-linked concerns.Iran’s Press TV state television said on its website the IAEA visit was aimed at bolstering cooperation between the two sides by resolving ambiguities, language Tehran has also used in the past.The English-language station cited Iran’s envoy to the IAEA, Ali Asghar Soltanieh, as saying the main objective was to thwart plots by enemies who are leveling unfounded allegations against Iran and to prove its nuclear transparency.Hibbs said Amano would want to see a significant step from Iran, for example by agreeing to more intrusive IAEA inspections or by explaining issues related to the weapons suspicions.I’m not very optimistic, Hibbs said. Iran’s track record is of appearing to cooperate whenever they are threatened by penalties.
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Azarenka bullies Sharapova to claim maiden Melbourne crown

The 22-year-old simply bullied Sharapova into submission in a 6-3 6-0 victory lasting 82 minutes.Her dominance in Melbourne will be reflected in the world rankings on Monday when she takes top spot from Denmark’s Caroline Wozniacki.The final had been billed as a battle of ear-splitting screamers but Sharapova went out with barely a whimper, unable to find a way through Azarenka’s blue-collar grunt work.After the Russian dumped yet another backhand into the net to surrender the match, Azarenka fell to her knees, turned to the crowd and asked: What happened? I don’t know what’s going on.Reality sinking in, she climbed up to the player’s box to give her coach Sam Sumyk a hug.This is your time, he told her.Azarenka had been given a rough ride by the Melbourne Park crowds throughout the tournament due to her grunting, but they warmed to her quickly.Sashaying up to the podium, she beamed as she accepted the Daphne Akhurst Memorial Cup from former winner Martina Hingis.I’ve had an amazing month in Australia and it’s a dream come true, she told fans at Rod Laver Arena, thanking everyone from her coach to the cleaners. And to the drivers, I hope you enjoyed my doughnuts, I’ve been feeding you forever. I know you’ve all gained weight. TESTING TIMES2The first player from Belarus to win a grand slam singles title, Azarenka had emerged from the players tunnel cocooned in her hooded sweatshirt and bouncing to the beat on her headphones. Trying to stay warm on a cool night in Melbourne, she started the match cold and was 2-0 down immediately. However, Azarenka settled into a solid-if-unspectacular game while Sharapova fell apart, the Russian losing 12 of the next 13 games with a slew of errant groundstrokes and shaky serves. Azarenka, who won the Sydney International warm-up earlier this month, had issues with a combustible temper earlier in her career, and a tendency to press the self-destruct button which resulted in several spectacular on-court meltdowns.However, hard work in the off-season coupled with a more mature mental outlook has solidified her game.The few testing moments in Saturday’s final that might have previously pushed her buttons were brushed off with an ironic smile and shrug of the shoulders.Right after the win I couldn’t understand what was happening and I couldn’t believe the tournament is over because it’s been so long, this road since Sydney, she told reporters.I have been dreaming and working so hard to win a grand slam, and being number one is a pretty good bonus.While Sharapova will still rise to number three in the rankings, she would have returned to the top spot for the first time since 2008 had she beaten Azarenka.Obviously to get to the final is a good achievement but to end up being the one that loses is always tough, no matter what sport you’re in, Sharapova said.It’s frustrating but I have a pretty good head on my shoulders in terms of having a good perspective on sport and life.PERSPECTIVERafa Nadal put some perspective on Novak Djokovic’s position ahead of their mouthwatering title clash on Sunday.The Serb had a huge target on his back coming into the year’s first grand slam after a year in which he won three majors and compiled a 70-6 record. It’s a fantastic situation to be in, Nadal told reporters on Saturday. It’s really not a tough one. When you are coming with that confidence everything is a little bit easier. Nadal came into Melbourne Park under an injury cloud with shoulder and knee problems but has looked stronger as the tournament has gone on. Djokovic, meanwhile, has complained of allergy issues and his breathing looked labored in recent matches, particularly in the early stages of his five-set semi-final win over Britain’s Andy Murray on Friday. It’s funny, I saw the match yesterday on TV … and they showed images from two hours, 50 (minutes) before and it seems like he was destroyed, said Nadal. Two hours, 50 later he was in perfect condition. So it’s difficult to imagine he has these problems. Bob and Mike Bryan were not expected to encounter much difficulty in claiming a record 12th men’s doubles grand slam title but the American twin brothers were beaten 7-6 6-2 by Leander Paes and Radek Stepanek.Bob Bryan’s wife Michelle is set to give birth any day back in the United States and he was pleased not to have missed the happy arrival.Thanks baby, thanks for holding it in for me, he said.
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Exxon to sell part of Tonen stake for about $3.9 bln: sources

Exxon Mobil will retain about a 20 percent stake in TonenGeneral but the deal will mark a de facto retreat from the world’s third-largest economy by the U.S. oil giant, which is focusing its resources on emerging markets and development of natural resources.The move could also spark realignment among Japan’s oil refiners, which have been cutting capacity to cope with falling demand caused by a weak economy and a shift to more efficient and environmentally friendly forms of energy, analysts have said.Reuters reported earlier this month that Exxon was in talks to sell part of the stake back to TonenGeneral.TonenGeneral, which imports and distributes Exxon oil in Japan, ranks as the country’s No. 2 refiner behind JX Holdings (symbol_5020.T_25020.T). Smaller rivals include Idemitsu Kosan Co (symbol_5019.T_35019.T), Cosmo Oil (symbol_5007.T_45007.T) and Showa Shell (symbol_5002.T_55002.T).Exxon and TonenGeneral aim to complete the deal around summer, the sources told Reuters on condition of anonymity.TonenGeneral will seek funds from Sumitomo Mitsui Banking Corp, Sumitomo Trust Banking, Bank of Tokyo Mitsubishi UFJ and Mitsubishi Trust Bank to buy back the stake, the sources said.
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Germany wants Greece to give up budget control

There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that’s enough, the source said.The source added that under the proposals European institutions already operating in Greece should be given certain decision-making powers over fiscal policy.This could be carried out even more stringently through external expertise, the source said.The Financial Times said it had obtained a copy of the proposal showing Germany wants a new euro zone budget commissioner to have the power to veto budget decisions taken by the Greek government if they are not in line with targets set by international lenders.Given the disappointing compliance so far, Greece has to accept shifting budgetary sovereignty to the European level for a certain period of time, the document said.Under the German plan, Athens would only be allowed to carry out normal state spending after servicing its debt, the FT said.If a future (bail-out) tranche is not disbursed, Greece cannot threaten its lenders with a default, but will instead have to accept further cuts in primary expenditures as the only possible consequence of any non-disbursement, the FT quoted the document as saying.The German demands for greater control over Greek budget policy come amid intense talks to finalize a second 130 billion-euro rescue package for Greece, which has repeatedly failed to meet the fiscal targets set out for it by its international lenders.CHAOTIC DEFAULT THREAT0Greece needs to strike a deal with creditors in the next couple of days to unlock its next aid package in order to avoid a chaotic default. No country has put forward such a proposal at the Eurogroup, a Greek finance ministry official said on condition of anonymity, adding that the government would not formally comment on reports based on unnamed sources. The German demands are likely to prompt a strong reaction in Athens ahead of elections expected to take place in April. One of the ideas being discussed is to set up a clearly defined priorities on reducing deficits through legally binding guidelines, the European source said. He added that in Greece the problem is that a lot of the budget-making process is done in a decentralized manner. Clearly defined, legally binding guidelines on that could lead to more coherence and make it easier to take decisions – and that would contribute to give a whole new dynamic to efforts to implement the program, the source said.It is clear that talks on how to help Greece get back on the right track are continuing, the source said. We’re all striving to achieve a lasting stabilization of Greece, he said. That’s the focus of what all of us in Europe are working on right now.
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Nigeria army says kills 11 Boko Haram insurgents

Nigerian forces are reeling from a sharp uptick of increasingly sophisticated and coordinated attacks by Boko Haram. Human Rights Watch says it has killed hundreds of people since launching an uprising against the government in 2009, including an attack on the city of Kano that killed 186.Eleven BH (Boko Haram) members have been shot dead by the JTF (joint military taskforce) in Maiduguri today, following a shootout with the sect members at a checkpoint in a stop and search operation, field operations officer Colonel Victor Ebhamelehe said told Reuters.One member of the sect who was wounded is receiving treatment at the hospital.Boko Haram began as a clerical movement opposed to western cultural influences in Maiduguri, a dusty town in the northeast region bordering Chad, Niger and Cameroon, on the cusp of the Sahara. It has since spread to much of Nigeria’s north and has become the top security threat in Africa’s biggest oil producer.Suspected sect members attacked a police station in Mandwari, in north Nigeria’s Kano state, on Friday, police and witnesses said, leading to more than an hour of running gun battles that fatally wounded one policeman.We lost one of our men in the attack in Mandwari inside the city. He is a corporal and he died on the way to hospital. The gunmen were repelled, Kano police commissioner Ibrahim Idris told Reuters on Saturday.In an audio tape posted on the Internet on Thursday, the purported leader of Boko Haram, Abubakar Shekau, threatened to kill more security personnel and kidnap their families, and accused U.S. President Barack Obama of waging war on Islam, in an apparent effort to strike a chord with global jihadists.He denied that the group, which is loosely modeled on the Taliban, had been responsible for most of the civilian casualties in last Friday’s attack on Kano. Police say most of those casualities were shot dead by sect members.
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Police search News International offices in London, arrest four

The probe is linked to a continuing investigation into phone hacking at the now-closed News of the World tabloid, published by News International, the British arm of Murdoch’s News Corp media empire.Saturday’s operation was the result of information passed to police by News Corp’s Management and Standards Committee, set up in the wake of the phone hacking scandal, London’s Metropolitan Police said.One of those being questioned on suspicion of corruption was a 29-year-old police officer serving with the Met Police’s Territorial Policing Command, who was arrested at the central London police station where he worked.The others, all arrested at their homes, were a 48-year-old man from north London and two men from Essex, east of the capital, aged 48 and 56.Searches at News International’s offices in Wapping, east London, and at the arrested men’s homes, were expected to continue until the afternoon, police said.The operation takes to 12 the number of arrests in a probe into allegations journalists paid police in return for information, known as Operation Elveden, one of three criminal investigations into the news-gathering practices of the News of the World.Last week, News International settled a string of legal claims after it admitted that people working for the tabloid had hacked in to the private phones of celebrities and others to generate stories.The phone hacking scandal drew attention to the level of political influence held by editors and executives at News International, and other newspapers in Britain.It embarrassed British politicians for their close ties with newspaper executives and also the police, who repeatedly failed to investigate allegations of illegal phone hacking. News International had no immediate comment on Saturday’s police operation, a spokeswoman for the media group said.
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Salvage crews suspend work on capsized ship

A barge carrying pumping equipment that was attached to the capsized ship was withdrawn although work may be resumed in the afternoon, depending on conditions.The wind conditions and waves of more than a meter have forced us to interrupt work but we’ll start up again when conditions improve, said Antonino Corsini, one of the emergency services divers working with Dutch salvage company SMIT.Despite the interruption the search continued for bodies on the half-submerged vessel, which lies in about 20 metres of water on a rock shelf close to the island of Giglio off the Tuscan coast.Divers found the body of a woman on Saturday, bringing the total number of known dead to 17.But with no hope of finding survivors, the focus has switched to preventing an environmental disaster in Giglio, a popular holiday island in a marine nature reserve.Before the work was suspended, crews were installing valves to help pump out six of the ship’s fuel tanks, which contain around half of the more than 2,300 tonnes of diesel.Pumping, originally expected to begin on Saturday, is expected to be delayed until at least Sunday. The process of extracting all the fuel is expected to take at least 28 days, officials have said.The Concordia, a 290-metre long floating resort carrying more than 4,200 passengers and crew, sank more than two weeks ago after it ran into a rock which tore a hole in its hull.The accident, expected to create the most expensive maritime insurance claim ever, has triggered a legal battle which has seen U.S. and Italian lawyers preparing class action and individual suits against the operator, Costa Cruises. In a bid to limit the fallout, Costa, a unit of Carnival Corp, the world’s largest cruise ship operator, has offered the more than 3,000 passengers $14,500 each in compensation on condition they drop any legal action. The Concordia’s captain, Francesco Schettino, is under house arrest, suspected of causing the accident by steering too close to shore and faces charges of multiple manslaughter and abandoning ship before the evacuation was complete. The ship’s first officer, Ciro Ambrosio, has also been questioned by prosecutors but the company itself has not been implicated in the investigation at this stage.
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