Texas House Republicans pass abortion law

Texas House Republicans pass abortion law
AUSTIN, Texas (AP) — Republicans in the Texas House have passed one of
the nation's toughest packages of abortion restrictions.

Democrats stalled the vote as long as possible Monday, the second to
last day of the special legislative session.

The proposed bill would ban abortions after the 20th week of
pregnancy, require doctors to have admitting privileges at nearby
hospitals and limit abortions to surgical centers.

Supporters say the bill would improve women's health care. Opponents
warn it would shut down 37 out of 42 abortion clinics in the state.

The bill must sit for 24 hours, and then the Senate will need to vote.

Democrats have threatened a filibuster to stop the bill from reaching
Gov. Rick Perry's desk.
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US Supreme Court agrees to hear challenge to Mass

US Supreme Court agrees to hear challenge to Mass. abortion clinic
buffer zone law
The US Supreme Court has agreed to consider a challenge to the
Massachusetts abortion clinic buffer zone law.

The Supreme Court issued an order today granting a writ of certiorari
to the petitioners, who are objecting to the law that keeps abortion
protesters a set distance away from abortion clinics.

The high court's action comes after a federal appeals court in January
upheld the law, saying it protected the rights of patients while, at
the same time, allowing others to express their opinions.

The US Court of Appeals for the First Circuit said in its ruling, "Few
subjects have proven more controversial in modern times than the issue
of abortion. ... The nation is sharply divided about the morality of
the practice and its place in a caring society. But the right of the
state to take reasonable steps to ensure the safe passage of persons
wishing to enter health care facilities cannot seriously be
questioned.

"The Massachusetts statute at issue here is a content-neutral,
narrowly tailored time-place-manner regulation that protects the
rights of prospective patients and clinic employees without offending
the First Amendment rights of others," said the opinion, written by
Judge Bruce M. Selya, who heard the case, along with two other judges.

The appeals court ruling affirmed a decision by US District Judge
Joseph L. Tauro in February 2012.

The law creates a 35-foot fixed buffer zone around the driveways and
entrances of clinics. The lawsuit, Eleanor McCullen et al v. Martha
Coakley et al, was brought by seven people who say they regularly
engaged in antiabortion counseling outside the three clinics.

The challenge to the law was the latest in a series. "This case does
not come to us as a stranger," the appeals court said, leading off its
decision.

The court twice upheld an earlier version of the law, in 2001 and
2004. After the Legislature revised the law in 2007, the appeals court
upheld it again in 2009. More challenges were launched in Tauro's
court. Tauro rejected them, but the plaintiffs appealed.

Massachusetts began moving toward a buffer zone law after the slayings
of two clinic workers in Brookline in 1994 shocked the nation. John C.
Salvi III, a 22-year-old abortion opponent, shot two clinic workers to
death and wounded several others. Salvi later committed suicide in
prison while serving two life sentences.
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Global stocks, bonds hit by Fed, China worries

Global stocks, bonds hit by Fed, China worries
(Reuters) - Global equity markets, bond prices and commodities tumbled
on Monday, entering another week of heavy selloff, on worries about
the U.S. central bank's plans to scale back its money printing,
combined with tighter financial conditions in China.

Prices of U.S. Treasuries also resumed their slide on Monday, and
benchmark yields climbed to a nearly two-year high. Wall Street opened
sharply lower, with the Dow Jones industrial average retreating more
than 200 points in early trading, joining a global selloff after
concerns about liquidity crunch in China sent Shanghai stocks down
more than 5 percent.

The broad selloff added to more than $1 trillion in losses in global
equity markets in the five days ended June 21, based on the market
value of MSCI World Index.

The U.S. stock market alone lost about $354.4 billion during the
five-day period, while the U.S. bond market erased about $390.8
billion, measured by the market value of the BofA/Merrill Lynch Broad
Market Index.

"There is no fund flow here. The money out of the bond market is not
going into equities or anywhere else. Prices are going down because
there is panic selling when buyers are very hesitant," said James
Dailey, senior portfolio manager at Team Asset Strategy Fund in
Harrisburg, Pennsylvania.

"The hardest hit is no doubt the bond market. The decline that we have
seen in the past four weeks in the bond market would be equivalent to
a 30-35 percent decline in the stock market considering bonds are
traditionally not volatile."

The declines stem from Federal Reserve's signal last week that the era
of cheap central bank money - which caused many assets to hit record
highs - was coming to an end. But they have been exacerbated by
China's battle to transition to a lower-growth economy.

Both events are unprecedented and have driven a sharp rise in risk
aversion by investors fearing a long period of volatility across
markets.

The shift out of assets that have benefited most from cheap money has
been sharpest in the U.S. debt market, where yields on 10-year
Treasury notes spiked to two-year highs of 2.6 percent on Monday.
<US/>

The yield on two-year U.S. Treasury notes rose to 0.433 percent, which
was its highest level since July 2011.

This rise, and the brighter outlook for the U.S. economy, which was
behind the Fed's decision, has favored the dollar against most major
currencies. The dollar index .DXY, was up 0.2 percent at 82.556 after
rising as high as 82.841, its highest since June 5. The gains built on
last week's 2.2 percent rally, its biggest weekly rise since November,
2011.

WALL STREET TUMBLES

U.S. stocks extended their losses, falling more than 1 percent after
the S&P 500 index's biggest weekly decline in two months as investors
repriced shares in the wake of the Federal Reserve's plans to withdraw
its stimulus.

Investor sentiment also was hurt by a cash crunch in China, which
could further slow Chinese growth. Markets in Shanghai and Hong Kong
posted their biggest daily loss in almost four years.

"We are starting to see that follow-through in Asia, which is all part
of the broader narrative - the focus on a lack of stimulus, a creeping
higher in rates and the potential impact for less liquidity globally,"
said Peter Kenny, chief market strategist at Knight Capital in Jersey
City, New Jersey.

The Dow Jones industrial average .DJI was down 186.54 points, or 1.26
percent, at 14,612.86. The Standard & Poor's 500 Index .SPX was down
23.78 points, or 1.49 percent, at 1,568.65. The Nasdaq Composite Index
.IXIC was down 45.46 points, or 1.35 percent, at 3,311.79.

As investors retreated into the dollar, share markets tumbled, with
the falls heaviest in many of the world's major emerging markets.

MSCI's benchmark index for stocks in the emerging world .MSCIEF fell
2.1 percent, extending losses for a fifth straight day to touch
one-year lows. <EMRG/FRX>

The rise in Treasury yields and better prospects for the U.S. economy
have undermined the attraction of emerging markets, as China's efforts
to clean up its banking system and switch to a slower growth
trajectory raises fears of greater instability.

"The China story is something that people are aware of and keeping an
eye on, but broadly people are still digesting the comments of the
Fed," RBS emerging markets analyst Mohammed Kazmi said.

MSCI's main world equity index .MIWD00000PUS, which tracks stocks in
45 countries, shed 1.8 percent to add to last week's 3.2 percent loss,
its worst weekly fall since May 2012.

CHINA CRUNCH

The concerns over China's economic health spread to mining stocks in
Europe, adding to worries about the impact of the Fed's tapering and
pushing the FTSEurofirst 300 .FTEU3 index of top companies down 1.3
percent by midday to 1,124.10 points.

The Euro STOXX 50 Volatility index .V2TX, known as the VSTOXX, jumped
to a nine-month high, signaling a sharp rise in risk aversion among
investors.

European equity markets weakened despite data showing German business
morale picking up for a second straight month in June, pointing to a
slow recovery for Europe's largest economy.

Commodity markets were faced with the additional pressure of the
stronger dollar, which makes them more expensive to investors outside
the United States.

Copper dropped to its lowest price in 21 months, while oil slipped
below $100 a barrel for the first time in three weeks. <O/R>

"Global money supply will be wound back and the level of investment in
commodities like oil will be pulled back," said Michael McCarthy,
chief market strategist at CMC Markets.

Gold fell more than 1 percent, extending last week's 7 percent
decline, with investors shunning gold's appeal as a safe-haven asset.

(Reporting by Angela Moon; Editing by Dan Grebler)
For More Info vist Here :http://www.reuters.com/

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Global stocks, bonds hit by Fed, China worries

Global stocks, bonds hit by Fed, China worries
(Reuters) - Global equity markets, bond prices and commodities tumbled
on Monday, entering another week of heavy selloff, on worries about
the U.S. central bank's plans to scale back its money printing,
combined with tighter financial conditions in China.

Prices of U.S. Treasuries also resumed their slide on Monday, and
benchmark yields climbed to a nearly two-year high. Wall Street opened
sharply lower, with the Dow Jones industrial average retreating more
than 200 points in early trading, joining a global selloff after
concerns about liquidity crunch in China sent Shanghai stocks down
more than 5 percent.

The broad selloff added to more than $1 trillion in losses in global
equity markets in the five days ended June 21, based on the market
value of MSCI World Index.

The U.S. stock market alone lost about $354.4 billion during the
five-day period, while the U.S. bond market erased about $390.8
billion, measured by the market value of the BofA/Merrill Lynch Broad
Market Index.

"There is no fund flow here. The money out of the bond market is not
going into equities or anywhere else. Prices are going down because
there is panic selling when buyers are very hesitant," said James
Dailey, senior portfolio manager at Team Asset Strategy Fund in
Harrisburg, Pennsylvania.

"The hardest hit is no doubt the bond market. The decline that we have
seen in the past four weeks in the bond market would be equivalent to
a 30-35 percent decline in the stock market considering bonds are
traditionally not volatile."

The declines stem from Federal Reserve's signal last week that the era
of cheap central bank money - which caused many assets to hit record
highs - was coming to an end. But they have been exacerbated by
China's battle to transition to a lower-growth economy.

Both events are unprecedented and have driven a sharp rise in risk
aversion by investors fearing a long period of volatility across
markets.

The shift out of assets that have benefited most from cheap money has
been sharpest in the U.S. debt market, where yields on 10-year
Treasury notes spiked to two-year highs of 2.6 percent on Monday.
<US/>

The yield on two-year U.S. Treasury notes rose to 0.433 percent, which
was its highest level since July 2011.

This rise, and the brighter outlook for the U.S. economy, which was
behind the Fed's decision, has favored the dollar against most major
currencies. The dollar index .DXY, was up 0.2 percent at 82.556 after
rising as high as 82.841, its highest since June 5. The gains built on
last week's 2.2 percent rally, its biggest weekly rise since November,
2011.

WALL STREET TUMBLES

U.S. stocks extended their losses, falling more than 1 percent after
the S&P 500 index's biggest weekly decline in two months as investors
repriced shares in the wake of the Federal Reserve's plans to withdraw
its stimulus.

Investor sentiment also was hurt by a cash crunch in China, which
could further slow Chinese growth. Markets in Shanghai and Hong Kong
posted their biggest daily loss in almost four years.

"We are starting to see that follow-through in Asia, which is all part
of the broader narrative - the focus on a lack of stimulus, a creeping
higher in rates and the potential impact for less liquidity globally,"
said Peter Kenny, chief market strategist at Knight Capital in Jersey
City, New Jersey.

The Dow Jones industrial average .DJI was down 186.54 points, or 1.26
percent, at 14,612.86. The Standard & Poor's 500 Index .SPX was down
23.78 points, or 1.49 percent, at 1,568.65. The Nasdaq Composite Index
.IXIC was down 45.46 points, or 1.35 percent, at 3,311.79.

As investors retreated into the dollar, share markets tumbled, with
the falls heaviest in many of the world's major emerging markets.

MSCI's benchmark index for stocks in the emerging world .MSCIEF fell
2.1 percent, extending losses for a fifth straight day to touch
one-year lows. <EMRG/FRX>

The rise in Treasury yields and better prospects for the U.S. economy
have undermined the attraction of emerging markets, as China's efforts
to clean up its banking system and switch to a slower growth
trajectory raises fears of greater instability.

"The China story is something that people are aware of and keeping an
eye on, but broadly people are still digesting the comments of the
Fed," RBS emerging markets analyst Mohammed Kazmi said.

MSCI's main world equity index .MIWD00000PUS, which tracks stocks in
45 countries, shed 1.8 percent to add to last week's 3.2 percent loss,
its worst weekly fall since May 2012.

CHINA CRUNCH

The concerns over China's economic health spread to mining stocks in
Europe, adding to worries about the impact of the Fed's tapering and
pushing the FTSEurofirst 300 .FTEU3 index of top companies down 1.3
percent by midday to 1,124.10 points.

The Euro STOXX 50 Volatility index .V2TX, known as the VSTOXX, jumped
to a nine-month high, signaling a sharp rise in risk aversion among
investors.

European equity markets weakened despite data showing German business
morale picking up for a second straight month in June, pointing to a
slow recovery for Europe's largest economy.

Commodity markets were faced with the additional pressure of the
stronger dollar, which makes them more expensive to investors outside
the United States.

Copper dropped to its lowest price in 21 months, while oil slipped
below $100 a barrel for the first time in three weeks. <O/R>

"Global money supply will be wound back and the level of investment in
commodities like oil will be pulled back," said Michael McCarthy,
chief market strategist at CMC Markets.

Gold fell more than 1 percent, extending last week's 7 percent
decline, with investors shunning gold's appeal as a safe-haven asset.

(Reporting by Angela Moon; Editing by Dan Grebler)
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Snowden receives refugee document of passage from Ecuador

Snowden receives refugee document of passage from Ecuador
(Reuters) - WikiLeaks founder Julian Assange said on Monday that
fugitive U.S. spy agency contractor Edward Snowden had received
refugee papers from the Ecuador government to secure him safe passage
as he fled Hong Kong over the weekend.

"In relation to Hong Kong, Mr Snowden was supplied with a refugee
document of passage by the Ecuadorean government," Assange told
reporters from inside the Ecuador embassy in London where he has been
himself hiding from arrest for more than a year.

Such papers did not necessarily mean that Snowden would be granted
asylum in Ecuador, Assange said.

(Reporting by Rosalba O'Brien and Costas Pitas Writing by Maria Golovnina)
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Supreme Court holds off on major affirmative action decision

Supreme Court holds off on major affirmative action decision
Avoiding any major ruling on the hotbutton issue of affirmative action
in school admissions, the Supreme Court on Monday sent the case Fisher
v. University of Texas at Austin back to the Fifth Circuit Court of
Appeals. The narrow ruling essentially tees up the issue for the court
to reconsider next year, when it will review another affirmative
action case.

In a seven to one opinion, the court argued the lower court used the
wrong standards to evaluate the Texas college's admissions policies.
Justice Anthony Kennedy wrote for the majority that the Fifth Circuit
should not have given UT Austin as much deference on the matter of
whether its limited approach to racial considerations met the standard
set by the Supreme Court in 2003. That year, in Grutter v. Bollinger,
the court rejected the use of racial quotas but said that schools
could consider race as part of a "holistic" review of a student's
application.

That precedent, Kennedy wrote, "does not permit a court to accept a
school's assertion that its admissions process uses race in a
permissible way without closely examining how the process works in
practice, yet that is what the District Court and Fifth Circuit did
here."

Justice Ruth Bader Ginsburg dissented, while Justice Elena Kagan
recused herself from the case.

Fisher v. University of Texas at Austin was brought to the court by
Abigail Fisher, a white woman who applied to UT Austin as a high
school senior in 2008. She filed suit against the school after she was
rejected, arguing the university's consideration of race didn't meet
standards previously set by the Supreme Court.

While the University of Texas defended its consideration of race, most
students are accepted into UT Austin through the "Top 10 percent" law
-- a program that doesn't consider race. The "Top 10" program grants
automatic admission to the top students in every Texas high school.
Fisher did not qualify for the program. In 2008, just 216 accepted
students accepted outside of the "Top 10" program were black or
Hispanic.

Fisher v. University of Texas at Austin, argued before the court in
October, was considered a major opportunity for the court to rule on
affirmative action. While Monday's ruling doesn't set any new
precedents, the court will take up another affirmative action case as
soon as next year.

The Supreme Court in its next term will consider whether the state of
Michigan violated the Equal Protection Clause by amending its state
Constitution to prohibit affirmative action. The case, referred to as
Schuette v. Coalition to Defend Affirmative Action, reviews a 2006
Michigan ballot initiative that bans the consideration of race or sex
in public education, government contracting and public employment.

The Sixth Circuit Court of Appeals ruled that the Michigan initiative
-- because it came in the form of a constitutional amendment --
"reordered the political process" in a way that put special burdens on
racial minorities.

"Rather than undoing an act of popularly elected officials by simply
repealing the policies they created, Michigan voters repealed the
admissions policies that university officials created and took the
additional step of permanently removing the officials' power to
reinstate them," the appeals court wrote. "Had those favoring
elimination of all race-conscious admissions policies successfully
lobbied the universities' admissions units, just as racial minorities
did to have these policies adopted in the first place, there would be
no equal protection concern."
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Paula Deen re-scheduled for 'Today' on Wednesday

Paula Deen re-scheduled for 'Today' on Wednesday
NEW YORK—Paula Deen will appear on NBC's "Today" show on Wednesday,
according to host Matt Lauer.
Lauer's announcement came Monday, three days after the celebrity cook
abruptly canceled on the morning show, where she was scheduled to
answer questions about her past use of racial slurs.
Lauer said Deen "told us she will be here this time."
While questioned last month in a discrimination lawsuit, the
66-year-old Food Network star admitted to using the N-word in the
past, but she insisted she and her family do not tolerate prejudice.
Deen issued videotaped apologies Friday afternoon seeking forgiveness
from fans and critics.
But hours later, the Food Network announced it wouldn't renew her
contract when it ends this month.
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