LIMA - Peru mudslides kill 10

Mudslides have claimed several lives in Northern Peru, 10 people were killed when this truck was hit by a mudslide and plunged 200 metres into an abyss near a town called Abra De Porculla

Torrential rains caused rivers to overflow, wreaking havoc on highways, crops and bridges.

The accident occurred along the Fernando Belaunde Terry Highway, where buses and trucks were stalled.

Local residents reached the vehicle which was buried deep in mud and managed to save at least four victims.

Deborah Lutterbeck, Reuters

mudslide - a landslide of mud, landslip, a slide of a large mass of dirt and rock down a mountain or cliff
claim tr.v. claimed, claim·ing, claims

1. To demand, ask for, or take as one's own or one's due: claim a reward; claim one's luggage at the airport carousel.

2. To take in a violent manner as if by right: a hurricane that claimed two lives.
plunge v. plunged, plung·ing, plung·es
v.intr. To fall or throw oneself into a substance or place: We plunged into the icy mountain lake.
wreak tr.v. wreaked, wreak·ing, wreaks

1. To inflict (vengeance or punishment) upon a person.

2. To express or gratify (anger, malevolence, or resentment); vent.

3. To bring about; cause: wreak havoc.
hav·oc n.

1. Widespread destruction; devastation.

2. Disorder or chaos: a wild party that created havoc in the house.

HARARE - Zimbabwe opposition claims victory

Some official figures have emerged from Zimbabwe's Electoral Commission giving the combined opposition half of the available parliamentary seats with President Robert Mugabe's ruling party trailing 11 behind.

The opposition Movement for Democratic Change now says its candidate has beaten Mugabe in the presidential race as well.

Election rules say candidates need 51 per cent for an outright first round victory.

MDC officials say tallies posted outside polling stations give their leader Morgan Tsvangirai more than 50 per cent of the vote with Mugabe over six points behind.

SOUNDBITE: Tendai Biti, MDC Secretary General, saying (English):

"What the ZEC is saying, which is consistent with out own figures, is that President Morgan Richard Tsvangirai has won this election. He has won this election no in respect of the gross vote but in respect of attaining the majority that is required in terms of section 110 of the electoral act."

Mugabe's government is dismissing the MDC's claim as wishful.

It's already warned that any opposition claim of victory ahead of the official results would amount to a coup attempt.

Both sides are dismissing widespread speculation that they're negotiating a managed exit for Mugabe.

He was accused of rigging the last election in 2002.

This time around analysts say the groundswell of discontent over the economy ravaged by the world's highest rate of inflation is too great for him to fix.

The opposition says it's prepared to accept a second round ballot under protest but is urging Mugabe to concede defeat to avoid embarrassment.

But the prospect of a run-off ballot has raised fears that the delay could lead to an eruption of violence between security forces and militia loyal to Mugabe on one side and opposition supporters on the other.

Paul Chapman, Reuters

tally - recount, an additional (usually a second) count; especially of the votes in a close election
gross adj. gross·er, gross·est

1.

a. Exclusive of deductions; total: gross profits. See Synonyms at whole.

b. Unmitigated in any way; utter: gross incompetence.

2. Glaringly obvious: gross injustice. See Synonyms at flagrant.

3.

a. Brutishly coarse, as in behavior; crude: "It is futile to expect a hungry and squalid population to be anything but violent and gross" Thomas H. Huxley.

b. Offensive; disgusting.

c. Lacking sensitivity or discernment; unrefined:

d. Carnal; sensual.

4.

a. Overweight; corpulent.

b. Dense; profuse.

5. Broad; general: the gross outlines of a plan.
rigging - manipulate in a fraudulent manner; "rig prices"
ground·swell n.

1. A sudden gathering of force, as of public opinion: a groundswell of antiwar sentiment.

2. A broad deep undulation of the ocean, often caused by a distant storm or an earthquake.
rav·age v. rav·aged, rav·ag·ing, rav·ages

v.tr.

1. To bring heavy destruction on; devastate: A tornado ravaged the town.

2. To pillage; sack: Enemy soldiers ravaged the village.

LONDON - Sony previews Gran Turismo

It's London - but not as most drivers know it.

Compare this picture with the real world and it becomes obvious that you're travelling in a virtual space.

Welcome to Sony's PlayStation's 'Gran Turismo 5.'

The prologue version of the popular car game is making its European appearance at a special event held in London.

At this underground car park a selection of real super cars greeted one of PlayStation's most successful games.

The latest version of Gran Turismo allows the player to choose from over 70 racing cars to race around virtual streets in a virtual world.

SOUNDBITE (ENGLISH) SONY COMPUTER ENTERTAINMENT EUROPE SENIOR PRODUCER, SIMON ROBERTS SAYING:

"Every single car has its own sound, its own feel, its own weight, its own behaviour, its own stopping distance, its own turning angle - all these different things - and when the player actually plays the car they feel that from the model. (That's the whole point of having all the different cars, it's not just that they look great, it's the fact they all feel different.)"

The success of past versions of the game is clear to see.

According to Sony Gran Turismo has sold more than 50 million copies worldwide.

The company hopes that games such as this will help it claw back market share lost to consoles produced by rivals Nintendo and Microsoft.

The release date of Gran Turismo 5 is remains top secret, however it's expected to be unleashed within the next year.

Daragh Burke, Reuters

un·leash tr.v. un·leashed, un·leash·ing, un·leash·es

To release or loose from or as if from a leash: unleashed the guard dogs; unleashed his pent-up rage.

BUCHAREST - Bush's last NATO summit

Despite resistance from Russia and skepticism from NATO's European members, President Bush vowed on Tuesday to press for Ukraine and Georgia to be allowed to start the process of joining NATO.

Speaking in Kiev on his way to his last NATO summit as president, Mr. Bush said Moscow had no right to veto bids by the two former Soviet republics to join the 26-nation Western defense alliance.

SOUNDBITE: U.S. President George W. Bush saying (English):

"Helping Ukraine move towards NATO membership is in the interest of every member in the alliance and will help advance security and freedom in this region and around the world."

(
But France and Germany oppose giving Kiev and Tbilisi a roadmap to joining NATO -- arguing that the two countries do no meet NATO's criteria and that permitting them to join the alliance would upset the balance of power with Russia.

The Heritage Foundation's Nile Gardiner.

SOUNDBITE: Nile Gardiner, senior research fellow, the Heritage Foundation, saying (English):

"This is pure appeasement of Moscow by Berlin and Paris here and this sends all the wrong signals to the Russians who are of course trying to intimidate Georgia and Ukraine. They are independent nation-states-- they are pro-western allies here. They're being intimated by the Russian bear and this is certainly the wrong message to be sending to Moscow at this time."
)

On other summit issues, France said it may send a few hundred extra troops to Afghanistan to help NATO's biggest military mission -- stabilizing the country and defeating Taliban insurgents.

SOUNDBITE: Nile Gardiner, senior research fellow, the Heritage Foundation, saying (English):

"I think it is window dressing on a very grand scale here. Afterall, Britain has 8,000 troops in Afghanistan at this time. They're all fighting on the front line of Southern Afghanistan. The French have around 1,500 at the moment. They're not doing any fighting at all. And they're only proposing to boost that number to 2,500..essentially increasing the size of France's peacekeeping operation in the country. That simply doesn't help the war effort."

Vladimir Putin, meanwhile, is scheduled to attend the NATO talks in Bucharest, Romania Friday for the last time before he steps down as Russian president.

Relations are strained with the U.S. over plans for the enlargement of NATO and a U.S. proposal to locate anti-missile defenses in Poland and the Czech Republic. Following the NATO Summit, Presidents Putin and Bush will meet in Russia with both of these contentious issues on the agenda.

Jon Decker, Reuters.

vowed v. vowed, vow·ing, vows v.tr.

1. To promise solemnly; pledge. See Synonyms at promise.

2. To make a pledge or threat to undertake: vowing revenge on their persecutors.

appeasement - The policy of granting concessions to potential enemies to maintain peace.
strained adj.

1. Having been passed through a strainer: a bowl of strained peaches.

2. Done with or marked by excessive effort; forced: strained humor.

3. Extended beyond proper limits: a strained meaning.

4. Antagonized to the verge of open conflict: strained relations.

5. Twisted; wrenched: a strained ankle.

ISLAMABAD - Musharraf swears in cabinet

Things are changing in Pakistan.

The country has been overshadowed by emergency rule, assassination and a political power struggle over the past six months.

But as Musharraf swore in 24 members of Prime Minister Gilani's cabinet, the occasion could not have been more symbolic.

Eleven of the new ministers belong to assassinated former prime minister Benazir Bhutto's party.

A further nine are from former Prime Minister, Nawaz Sharif's party.

With a cabinet full of foes, there's strong speculation the new government will force Musharraf to quit within weeks or even months.

But the biggest threat to Musharraf is this man.

Deposed Supreme Court justice Iftikhar Chaudhry got a hero's welcome on a visit to his hometown of Quetta.

Musharraf replaced Chaudhry and his colleagues with judges loyal to him when he declared emergency rule in November

The new government has promised to reinstate Chaudhry, a move that is likely to trigger a show-down with Musharraf.

Judges are likely to take up legal challenges to his re-election last October.

Things are looking up for the country, but with so many opponents closing in on him, many say Musharraf's days are numbered.

Suranjana Tewari, Reuters

o·ver·shad·ow tr.v. o·ver·shad·owed, o·ver·shad·ow·ing, o·ver·shad·ows - to make insignificant by comparison; dominate.

strug·gle v. strug·gled, strug·gling, strug·gles

v.intr.

1. To exert muscular energy, as against a material force or mass: struggled with the heavy load.

2. To be strenuously engaged with a problem, task, or undertaking: struggled with his math homework.

3. To make a strenuous effort; strive: struggled to be polite.

4. To contend or compete: "Right and wrong ... will ever continue to struggle" Abraham Lincoln.

5. To progress with difficulty: struggled through the novel.

v.tr.

To move or place (something) with an effort: struggled the heavy desk into the elevator.
foe - an enemy, an adversary; an opponent
trig·ger n.

1.a. The lever pressed by the finger to discharge a firearm.

b. A similar device used to release or activate a mechanism.

2. An event that precipitates other events.

3. Electronics A pulse or circuit that initiates the action of another component.

take up

1. To raise; lift.

2. To reduce in size; shorten or tighten: take up a gown.

3. To pay off (an outstanding debt, mortgage, or note).

4. To accept (an option, bet, or challenge) as offered.

5. To begin again; resume: Let's take up where we left off.

6. To use up, consume, or occupy: The extra duties took up most of my time.

7. To develop an interest in or devotion to: take up mountain climbing.

8. To deal with: Let's take up each problem one at a time.

9. To assume: took up a friendly attitude.

10. To absorb or adsorb: crops taking up nutrients.

11. To enter into (a profession or business): took up engineering.

WASHINGTON - U.S. financial reforms

Acknowledging gaps in financial oversight exposed by the subprime mortgage crisis, Treasury Secretary Henry Paulson is proposing a dramatic restructuring of government supervision of the U.S. financial system.

SOUNDBITE: U.S. Treasury Secretary Henry Paulson saying (English):

"We are focused on seeing these recommendations implemented, to improve the workings of our financial markets. But we will not seek to implement them on a pace or in a manner that interferes with our first priority of working through this current period of market difficulty."

Paulson's proposal would allow the Federal Reserve to conduct on-site examinations of large non-bank financial firms that are treated differently than banks because they do not take deposits. Over time, the Fed would eventually take on the job of ensuring overall market stability.

SOUNDBITE: U.S. Treasury Secretary Henry Paulson saying (English):

"I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every five to ten years. I am suggesting that we should and can have a structure that is designed for the world we live in, one that is more flexible, one that can better adapt to change."

The treasury secretary also called for the government to set a national standard for mortgage originators and urged the creation of a federal commission that would evaluate state licensing for the people who give mortgage loans. Despite the sweeping proposals, analysts say very little is likely to happen this year.

Jon Decker, Reuters.

o·ver·sight n. - watchful care or management; supervision.
subprime - (of a credit customer) having an increased risk and thus charged a greater rate of interest
mort·gage n. a temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.
pace

1. A step made in walking; a stride.

2. A unit of length equal to 30 inches (0.76 meter).
Over time
1 During the next period of time
2 In the future

loan n.

a. Something lent for temporary use.

b. A sum of money lent at interest.

sweep·ing

adj.

1. Having wide-ranging influence or effect: sweeping changes.

2. Moving in or as if in a wide curve: a sweeping gesture; a sweeping glance.

3. Indiscriminate; wholesale: sweeping generalizations.

4. Overwhelming; complete: a sweeping victory.

BRUSSELS - European inflation surges

Inflation in the 15 country Eurozone region jumped to record highs this month with new data showing a year-on-year rise to 3.5 percent.

That's up from 3.3 percent in February. Rising food and energy prices fuelled the increase, as oil prices steamed higher.

The acceleration is higher-than-forecast and reinforces expectations that the inflation-focused European Central Bank will not cut its interest rate soon.

The ECB wants inflation to stay below 2 percent. But with slow growth and falling confidence in the economy, markets expect the central bank to cut interest rates from the current 4 percent later this year.

///
The world's second-largest wine and spirits company, France's Pernod Ricard has bought Sweden's Vin & Spirit group, the makers of Absolut vodka, for 5.63 billion euros (8.87 billion U.S. dollars).

Pernod Ricard made the best offer in the hotly contested auction, giving it control of one of the biggest and fastest-growing spirits brands.

The sale of the former state-owned monopoly is Sweden's largest-ever push to privatise government assets. Stockholm said the deal was a victory for taxpayers.

(SOUNDBITE) (Swedish) MATS ODELL, MINISTER FOR LOCAL GOVERNMENT AND FINANCIAL MARKETS SAYING:

"It's a very good price for the company, it's a good price for the public economy, as well for the company and its employees"

But traders disagreed. They said Pernod had overpaid and its stock fell to a two-month low wiping almost 700 million euros off the company's market value.

///
UK insurer Friends Provident has rejected a 3-and-a-half billion pounds (7 billion dollar) cash takeover offer from U.S. private equity firm JC Flowers.

Friends said the bid significantly undervalued the company and received the 150 pence per-share takeover offer last Thursday.

JC Flowers indicated the offer would be reduced in the event that Friends paid shareholders the 2007 final dividend of 5.3p a share.

///
Meanwhile in London, shares of Friends Provident gained thanks to the bid. However a number of heavyweight shares on the FTSE 100 lost steam. Vodafone along with British Airways were among the heaviest losers after broker downgrades. Price of oil turned higher after losing ground earlier in the session. The lull in fighting in Iraq's southern city of Basra, key to the country's production and exports, eased fears of potential supply disruption.///

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Inditex, Europe's biggest clothing retailer and owner of the Zara chain has reported a 25 percent jump in 2007 net profit. The Spanish-based company's 1-and-a-quarter billion euro profit outperformed analyst expectations. Analysts credited a weaker dollar and strict cost control for that.

The retailer said this year had got off to a sparkling start and shrugged off fears of an economic downturn in Spain.

SOUNDBITE (English) Inditex Director for Capital Markets, Marcos Lopez saying,

''So basically I believe that the business model we operate is the best tool we have to again to find our place and create our space in a probably more compelling market.''

Nearly 40 percent of Inditex's sales come from Spain where slowing economic growth is eating into retail sales. Inditex shares have fallen over 15 percent since the beginning of the year.

Michelle Carlile-Alkhouri, Reuters

steamed - aroused to impatience or anger; "made an irritated gesture"
as·set n. - a useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company.
wipe tr.v. wiped, wip·ing, wipes
1.a. To subject to light rubbing or friction, as with a cloth or paper, in order to clean or dry.

b. To clean or dry by rubbing: wiped my feet before I went inside.
gain

v. gained, gain·ing, gains

v.tr. To attain in competition or struggle; win: gained a decisive victory; gained control of the company.
bid - n.1. a. An offer or proposal of a price

lull n.
1. A relatively calm interval, as in a storm.

2. An interval of lessened activity: a lull in sales.

get off - To start, as on a trip; leave.

spark v. sparked, spark·ing, sparks

v.intr.

1. To give off sparks.

2. To give an enthusiastic response.

3. To operate correctly. Used of the ignition system of an internal-combustion engine.

shrug off - To minimize the importance of: shrugged off the defeat and talked about tonight's game.