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Eye Opener: Clemson stuns Alabama to win championship

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NewsHub| A thrilling upset crowns Clemson the king of college football. Also, a massive manhunt is underway in Orlando for the suspect wanted for killing a veteran police woman. A second officer was killed during the pursuit. All that and all that matters in today’s Eye Opener. Your world in 90 seconds. Get the Eye Opener delivered straight to your inbox.

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We Need Tax Reform, Not Tariffs

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NewsHubIf America’s competitors intentionally tried designing a tax system to destroy the American economy, they probably couldn’t come up with a better plan than the way the United States currently taxes its own businesses.
To fully appreciate the stupidity of the American corporate tax, consider this simple example: If you are an American company making cars in Michigan, you have to pay a 35 percent profits tax on the car made here. Then if the car is sold across the border to Mexico, the Mexican government slaps on a 16 percent value-added tax. So the car is taxed on both sides of the border. Almost all countries tax goods produced in the United States this way.
Now let us say that the auto factory is moved from Michigan to Mexico City. The car produced in the factory in Mexico is not taxed by the Mexican government if the car is sold in the United States.
Even more amazing: The U. S. imposes no tax on the imported car. To summarize, the car is taxed twice if it is built in America and then sold abroad and never taxed if it is built abroad and sold here in the U. S. And we wonder why companies are moving out in droves to China, India, Ireland, Mexico and the like.
Donald Trump is right. What we have in America is not free trade. It is stupid trade, with the deck stacked against American producers and workers. Our federal tax is effectively a 35 percent tariff imposed on our own goods and services.
It doesn’t help matters that our 35 percent rate is the highest in the industrial world. Yet the corporate tax — despite being onerous and complex — raises very little revenue for the government. In 2015 the U. S. corporate tax raised $300 billion, or 2 percent of GDP. This was one of the lowest percentages among almost all industrial nations.
What is the point of a tax that extracts high costs from the economy for very little revenue reward?
To create a level playing field, the U. S. has to reconstitute our tax system. This can be accomplished by lowering the tax rate and then turning the tax on its head so we are taxing our imports but not our exports. In other words, we should tax activities based on where they are consumed, not where they are produced.
This is called a border-adjustable tax system. Here are the reasons we need it:
In exchange for a border-adjustable tax, the U. S. should eliminate all existing tariffs and duties, which now range from 2 percent on shoes to 25 percent on toys. This would eliminate all special-interest favoritism — the worst feature of trade protectionism.
Retailers such as Wal-Mart will complain that this tax will raise prices for imported products from China, Mexico and other low-wage nations. But domestically produced goods will be cheaper. And people can’t buy products at Wal-Mart if they don’t have a job in the first place. And not everyone in America can work at Wal-Mart.
We have to make things in America in order to make America great again. Tax reform is the key to making that happen.
Stephen Moore is a distinguished visiting fellow at The Heritage Foundation, economics contributor to FreedomWorks and author of „Who’s the Fairest of Them All? “ To find out more about Stephen Moore and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.

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Oil prices stage weak rally ahead of U. S. market report

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NewsHubNEW YORK, Jan. 10 (UPI) — Crude oil prices notched only modest gains before trading opened in New York, even as Russia said it was trimming oil output as obligated under an OPEC deal.
Crude oil prices lost major ground in Monday trading following a report on December exploration and production activity from oilfield services company Baker Hughes. The December rig count, which serves as an indicator of the appetite to spend on exploration and production, showed dramatic increases in North America.
Oil prices have reached a point where some companies are coming off the U. S. shale oil sidelines to resume work. Operations were curbed in early 2016 after crude oil prices dropped below $30 per barrel.
„The continuous rise in U. S. rig counts is bound to have a positive impact on domestic oil production,“ Tamas Varga, an analyst at broker PVM, said in a note published early Tuesday.
Crude oil prices have stayed above $50 per barrel more or less since members of the Organization of Petroleum Exporting Countries agreed in November to limit output. Russia, which contributes most of the cuts from non-OPEC members, said it was meeting its obligations.
Brent crude oil prices about an hour before the start of trading in New York were up a modest 0.3 percent to $55.10 per barrel. West Texas Intermediate, the U. S. benchmark for the price of oil, in the February contract was up 0.25 percent to $52.09 per barrel.
Supply-side strains pulled down oil prices last year and additional U. S. pressure may come with the sale of around 8 million barrels from the Strategic Petroleum Reserve in the coming months. That’s about a half-day’s worth of U. S. demand and any impact on crude oil prices would be short-lived .
Crude oil prices started 2017 at an 18-month high, but have since failed to sustain that rally. The morning movement for crude oil prices may be subdued as investors await the next short-term market report from the U. S. Energy Information Administration, which comes out later Tuesday.
The last EIA report found U. S. shale oil was more resilient to lower crude oil prices than initially expected. Last month, EIA said it expected total U. S. crude oil production for 2017 would by about 200,000 bpd less than last year, a drop not as severe as previous estimates.

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Credit card, auto loan delinquencies rise

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NewsHubCredit card delinquencies increased to 2.74 percent of all accounts in the third quarter, the ABA said, though that’s still below the 15-year average of 3.68 percent.
„There has been more credit being extended, and we’ll see whether this is the start of a movement upward,“ Chessen said, referring to the increase in delinquencies. Still, „these types of fluctuations don’t come as a surprise amid a six-year period in which bank card delinquencies have been so far below their long-term average,“ he said.
Auto loan delinquencies were also higher, up to 0.87 percent in the most recent quarter from 0.82 percent in the previous quarter, according to the ABA.

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Stocks open mixed on Wall Street; Valeant jumps

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NewsHubThe stock market is getting off to a mixed start as drops in real estate and utilities offset gains in other sectors, including healthcare.
Struggling drugmaker Valeant jumped 9% early Tuesday after saying it will sell more than $2 billion in assets.
Ascena Retail Group plunged 14% after cutting its profit forecast because holiday season sales fell for most of its brands, including Ann Taylor, Lane Bryant and Dressbarn.
The Dow Jones industrial average fell 41 points, or 0.2%, to 19,844.
The Standard & Poor’s 500 index was little changed at 2,267. The Nasdaq also was flat at 5,531.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.37%.
Tonight, President Obama returns to Chicago to give a prime-time farewell address. Attorney general nominee Sen. Jeff Sessions is in the hot seat today. A storm that hit Northern California toppled the Pioneer Cabin Tree. Who should discipline police officers?
Raw video of an attempted murder suspect leading police on a chase on the 405 Freeway Monday night.
Rescue crews were searching the Dominguez Channel in the Gardena area Monday morning after a woman reported her boyfriend had been washed away after entering the channel.
Meryl Streep accepted the Cecil B. DeMille award at the 2017 Golden Globes Sunday Jan. 8.
„La La Land“ was the big winner at the Golden Globes , what values does Hollywood promote? , storms have slammed Northern California , Thomas Barrack’s latest gig is planning the president-elect’s inauguration .
„La La Land“ was the big winner at the Golden Globes , what values does Hollywood promote? , storms have slammed Northern California , Thomas Barrack’s latest gig is planning the president-elect’s inauguration .

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Larry Summers: Trump's like a Latin American-type strongman and postelection rally's a 'sugar high'

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NewsHubThe boost in the stock market and the dollar on optimism about the economy since Donald Trump was elected president won’t last, former Clinton Treasury Secretary Larry Summers predicted Tuesday.
„When regimes that were in some ways similar — highly nationalist, highly interventionist with a bit of an authoritarian aspect — have come to power in Latin America, it was often a very good economic period with a strong currency before the thing fell apart,“ the economist said on CNBC’s „Squawk Box. “
Summers, a former Obama economic advisor, refused to elaborate on the metaphor. „There is no single person. But there is a tendency in a nationalist, populist economic policy… [that] everything felt terrific and then things were undone. “
In the interview, Summers wrote off the Trump rally since Election Day as a „sugar high,“ saying he’s not sure when it will end, but admitting it could „last for a while. „

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US stock indexes veer higher in morning trading; oil slides

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NewsHubPhone companies led the major U. S. stock indexes higher in morning trading Tuesday, as the market recouped some of its losses from the day before. Industrial and bank stocks also rose, while real estate companies were the biggest laggard. Crude oil prices headed lower, pulling down energy stocks.
KEEPING SCORE: The Dow Jones industrial average rose 55 points, or 0.3 percent, to 19,942 as of 11:15 a.m. Eastern Time. The Standard & Poor’s 500 index added 6 points, or 0.3 percent, to 2,275. The Nasdaq composite index gained 23 points, or 0.4 percent, to 5,555. The Nasdaq closed at an all-time high on Monday.
IN THE GENES: Illumina jumped 15.6 percent after it reported better-than-anticipated fourth quarter sales. The company also launched a new genetic sequencing system called NovaSeq. The stock led the gainers in the S&P 500, adding $22.08 to $163.62.
BIG SALE: Struggling drugmaker Valeant Pharmaceuticals climbed 6.7 percent after saying it will sell more than $2 billion in assets. The stock rose $1.04 to $16.39.
HEALTHIER OUTLOOK: Zimmer Biomet added 5.7 percent after the medical device maker projected better-than-expected fourth-quarter sales. The stock rose $6.05 to $113.10.
BANK DEAL: Pacific Continental vaulted 25.5 percent on news that the holding company for Pacific Continental Bank will be bought by Columbia Banking System for $664 million. Pacific Continental shares added $5.30 to $26.10. Columbia shares slid 97 cents, or 2.3 percent, to $42.33.
HIGH FLYER: Alaska Air Group rose 5.2 percent after the airline, which bought Virgin America in December, reported strong monthly results. The stock gained $4.47 to $91.95.
IN TRANSITION: Yahoo rose 2.1 percent after the internet pioneer said it plans to change its name to Altaba and announced that six of its 11 directors will resign from the board, including CEO Marissa Mayer and co-founder David Filo. The moves assume the sale of Yahoo’s internet business to Verizon will go through and reflect how the rest of Yahoo will become a holding company for investments in Alibaba Group and Yahoo Japan. Yahoo shares gained 87 cents to $42.21.
BAH HUMBUG: Ascena Retail Group slid 8.7 percent after the company slashed its profit forecast, citing holiday season sales, which fell for most of its brands, including Ann Taylor, Lane Bryant and Dressbarn. The stock lost 52 cents to $5.49.
BIG DECLINER: Natural gas company Williams Cos. was down the most among stocks in the S&P 500 index, sliding $3.13, or 9.8 percent, to $28.80.
MARKETS OVERSEAS: In Europe, Germany’s DAX was up 0.2 percent, while the CAC40 of France was 0.1 percent higher. Britain’s FTSE 100 was up 0.5 percent, pushing further into record territory as it benefits from a drop in the pound. In Asia, Japan’s Nikkei 225 index dropped 0.8 percent, while the Kospi in South Korea slipped 0.2 percent. Hong Kong’s Hang Seng added 0.8 percent.
ENERGY: U. S. benchmark crude oil was down 49 cents at $51.47 a barrel in New York. Brent crude, which is used to price oil sold internationally, was down 84 cents, or 1.5 percent, at $54.11 a barrel in London.
BONDS: Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.37 percent.
CURRENCIES: The pound rose to $1.2183 from $1.2163 amid signs the British government may opt for a full break away from the European Union’s single market. The dollar fell to 115.44 yen from 116.06 in late trading Monday. The euro rose to $1.0589 from $1.0577.

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La Land leads Bafta film nominations

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NewsHubLa Land has received the most nominations for the British Academy Film Awards with 11 nods.
The Hollywood musical, out in the UK on Friday, is up for best film, while stars Ryan Gosling and Emma Stone are up for best actor and actress.
British actors Andrew Garfield, Emily Blunt and Hugh Grant are also in line for acting awards.
Philosophical sci-fi film Arrival and Tom Ford’s dark drama Nocturnal Animals have nine nominations apiece.
The 2017 Bafta Film Awards will be held at the Royal Albert Hall in London on 12 February.
Ken Loach’s I, Daniel Blake is up for both the best film and best British film awards.
The welfare state drama receives an additional nod for its screenplay while Hayley Squires, who plays a single mother in the film, is up for best supporting actress.
„As if @BAFTA think it’s a good idea to put me in the same room as Ryan Gosling,“ tweeted the London-born actress, adding that she was „very grateful for the recognition“.
Labour leader Jeremy Corbyn welcomed I. Daniel Blake’s four nominations, congratulating Loach and „everyone involved in the brilliant film“.
Arrival, La Land and I, Daniel Blake are joined in the best film category by Manchester by the Sea and Moonlight.
Other titles in contention for the outstanding British film award include Harry Potter spin-off Fantastic Beasts and Where to Find Them, which has five nominations in all.
Meryl Streep joins Blunt and Stone in the leading actress category, where she is nominated for her role in Florence Foster Jenkins.
Her 15th Bafta nomination puts her on an equal footing with Dame Judi Dench, who previously held the record for most Bafta film nominations.
The US actress made headlines at the Golden Globes on Sunday with a speech in which she criticised US President-elect Donald Trump.
Mr Trump responded by claiming the three-time Oscar-winner and two-time Bafta recipient was „overrated“.
Amy Adams and Natalie Portman complete the best actress contenders list, having been nominated for Arrival and Jackie respectively.
Gosling and Hacksaw Ridge star Garfield compete with Casey Affleck, Jake Gyllenhaal and Viggo Mortensen for the best actor award.
The latter trio are respectively nominated for Manchester by the Sea, Nocturnal Animals and Captain Fantastic respectively.
Grant, who appears with Streep in Florence Foster Jenkins, is joined in the supporting actor category by fellow Britons Aaron Taylor-Johnson and Dev Patel.
Taylor-Johnson is nominated for his Golden Globe-winning turn in Nocturnal Animals, while Slumdog Millionaire star Patel is shortlisted for Lion.
„This Bafta nomination today truly means so much to me“ said Patel in a statement. „My family is literally freaking out right now! “
„It’s always nice to feel love from your hometown,“ said Taylor-Johnson, adding he was „genuinely humbled“ by the „fantastic honour“.
„Can’t wait to celebrate back in good ole Blighty! “ continued the 26-year-old, who is married to the British artist formerly known as Sam Taylor-Wood.
British actress Naomie Harris is also shortlisted for the supporting actress award for her work in independent film Moonlight.
Viola Davis, Nicole Kidman and Michelle Williams receive nominations in that category as well for Fences, Lion and Manchester by the Sea.
La La Land was the big winner at last weekend’s Golden Globes, receiving every one of the seven awards for which it was nominated.
Its director, Damien Chazelle, is Bafta-shortlisted in both the director and original screenplay categories.
Kenneth Lonergan and Tom Ford also receive dual director and screenplay nods for Manchester by the Sea and Nocturnal Animals respectively.
Arrival’s Denis Villeneuve joins Chazelle, Ford, Loach and Lonergan in the best director category.
Loach’s nomination comes 50 years on from the Bafta TV award he received in 1967 for Cathy Come Home.
The 80-year-old film-maker received the organisation’s Michael Balcon Award in 1994 and a Bafta Fellowship in 2006.
The Disney studio dominates the animated film category, scoring three of the four nominations with Finding Dory, Moana and Zootropolis.
Kubo and the Two Strings is the only nominee not to have been made by the so-called „House of Mouse“ and its subsidiary Pixar.
Zootropolis co-director Rich Moore tweeted his thanks for his film’s nomination, adding: „We will see you in London! “
Kubo director Travis Knight, meanwhile, said he was „thrilled and thankful“ to be recognised for a film he said had been „a wholehearted labour of love“.
The nominations follow last week’s unveiling of the five actors in contention for this year’s Rising Star prize .
A public vote will decide whether Laia Costa, Lucas Hedges, Tom Holland, Ruth Negga or Anya Taylor-Joy receive the award.
This year’s nominations were announced by Dominic Cooper and Game of Thrones star Sophie Turner at Bafta’s central London HQ.
Cooper said he could understand why people were „raving“ about La Land, praising its „gorgeous, skilful performances“.
Amanda Berry, chief executive of the British Academy of Film and Television Arts, said it had been „a really exciting year for film“.
„The range of films is quite extraordinary,“ she told BBC Breakfast. „That’s what makes this year’s nominations so intriguing and interesting. “
Follow us on Facebook , on Twitter @BBCNewsEnts , or on Instagram at bbcnewsents. If you have a story suggestion email entertainment.news@bbc.co.uk .

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Obituary: Clare Hollingworth

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NewsHubClare Hollingworth was the war correspondent who broke the news that German troops were poised to invade Poland at the start of World War Two.
She went on to report on conflicts across the world but it was that moment that defined her career.
She was by no means the first female war reporter, but her depth of technical, tactical and strategic insight set her apart.
And, even as she approached her 11th decade, she still kept her passport by her bed in case she should be called to another assignment.
Clare Hollingworth was born in Leicester on 10 October 1911 and spent most of her childhood on a farm. What should have been idyllic years were overshadowed by World War One.
„I remember the German bombers flying over the farm we lived in to bomb Loughborough,“ she reminisced. „And the next day we got Polly the pony and took the trap into Loughborough to see the damage they had done. “
She had set her heart on a writing career early on, much to the exasperation of her mother.
„She didn’t believe anything journalists wrote and thought they were only fit for the tradesmen’s entrance. “
After school she attended a domestic science college in Leicester, which instilled in her a lifelong hatred of housework.
More interesting to her by far were the battlefield tours that her father arranged to sites as diverse as Naseby, Poitiers and Agincourt.
Eschewing the prospect of life as a country squire’s wife, Hollingworth became a secretary at the League of Nations Union before studying at London University’s School of Slavonic Studies and the University of Zagreb.
In 1936 she married a fellow League of Nations worker, Vandeleur Robinson, but soon found herself in Warsaw, distributing aid to refugees who had fled from the Sudetenland, the Czech territory occupied by the Nazis in 1938.
She had written the occasional article for the New Statesman and, on a brief visit to London in August 1939, she was signed up by the editor of the Daily Telegraph, Arthur Wilson, who was impressed by her experience in Poland.
In this period of heightened tension, the border between Poland and Germany was sealed to all but diplomatic vehicles. After borrowing a car from the British consul in Katowice and proudly displaying the union jack, she drove through the exclusion zone and into Germany.
While driving back to Poland, having bought wine, torches and as much film as possible, she passed through a valley in which huge hessian screens had been erected.
As the wind blew one of the screens back, it revealed thousands of troops, together with tanks and artillery, all facing the Polish border.
Her report featured on the front page of the Daily Telegraph on 29 August, 1939. Less than a week after becoming a full-time journalist, she had scooped one of the biggest stories of the 20th Century.
Three days later, Hollingworth saw the German tanks rolling into Poland. But when she phoned the secretary at the British Embassy in Warsaw, he told her it could not be true as negotiations between Britain and Germany were still continuing.
„So I hung the telephone receiver out of the window,“ Hollingworth later recalled, „So he could listen to the Germans invading. “
Working on her own, often behind enemy lines, with nothing more than a toothbrush and a typewriter, she witnessed the collapse of Poland before moving to Bucharest, where she realised that her marriage was over.
„I thought that for me – and in a different kind of way for him – my career was more important than trying to rush back home,“ she reflected later.
Hollingworth spent a busy war in Turkey, Greece and Cairo. When Montgomery – who could not stomach the idea of a woman reporting from the front – captured Tripoli in 1943, he ordered her to return to Cairo.
She decided to attach herself to Eisenhower’s forces, then in Algiers.
Though diminutive and bespectacled, Hollingworth was as tough as nails. She learned how to fly and made a number of parachute jumps.
During the latter part of the war, she reported from Palestine, Iraq and Persia, where she interviewed the young Shah.
After the war, Hollingworth, by now working for the Observer and the Economist, married Geoffrey Hoare, the Times’s Middle East correspondent.
The couple were just 300 yards from Jerusalem’s King David Hotel when it was bombed in 1946, killing 91 British troops.
The attack left her with a hatred of the man behind the attack, the Irgun leader Menachem Begin, who eventually became prime minister of Israel and won the Nobel Peace Prize.
„I would not shake a hand with so much blood on it,“ she explained.
In 1963 Hollingworth was working for the Guardian in Beirut when Kim Philby, a correspondent for the Observer, disappeared.
She was convinced that he was the fabled „third man“ in a British spy ring that already included Guy Burgess and Donald Maclean.
After some detective work, she discovered that Philby had left on a Soviet ship bound for Odessa and filed copy to that effect with the Guardian.
But this second huge scoop was spiked by the paper’s editor, Alastair Hetherington, who feared a libel suit.
Three months later, the Guardian ran the story, tucked away on an inside page. The following day the Daily Express splashed it on the front page, prompting the government to admit that Philby had, indeed, defected to the Soviet Union.
Hollingworth reported on the Algerian crisis and the Vietnam War. She was one of the first journalists to predict that American military muscle would not prevail and that a stalemate was inevitable.
She made a special effort to speak to Vietnamese civilians, away from the watching eyes of the US PR people, to ensure she accurately captured the views of those who were suffering the most.
Hoare died in 1966, and Hollingworth, who had become the Telegraph’s first Beijing correspondent in 1973, retired to Hong Kong in 1981.
She spent her final years in the former colony and was a daily fixture at the Foreign Correspondents‘ Club, venerated by her colleagues.
Although she lost her sight later in life, Clare Hollingworth, a true journalist’s journalist, retained an acute interest in world affairs right to the end.
She was once asked where she would want to go if the phone rang with a new assignment.
„I would look through the papers,“ she said, „And say, ‚Where’s the most dangerous place to go?‘, because it always makes a good story. „

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'Further investigation needed' to determine death of Carrie Fisher

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NewsHubCarrie Fisher’s death certificate has confirmed that the Star Wars actor and Hollywood screenwriter died of a heart attack, but says more tests are needed to find out what caused it.
The Los Angeles County death certificate, obtained by The Associated Press news agency, states under the „cause of death“ heading: „Cardiac arrest/deferred. “
The „deferred“ designation indicates that further investigation is needed, usually in the form of toxicology tests that can take several weeks to complete.
Fisher (60) who played Princess Leia in the Star Wars films, suffered the heart attack on a flight from London to Los Angeles on December 23 and died on December 27 at Ronald Reagan UCLA Medical Centre.
Her mother, Singin‘ In The Rain star Debbie Reynolds (84) died a day later.
The death certificate lists Fisher’s daughter Billie Lourd as the notifying party and gives Fisher’s occupation as „writer“.

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