America's Latino future

The floor of the community centre in Springdale, Arkansas, shakes to a staccato rhythm as the young Latino dancers practise their steps.

The young girls slip long dresses of fuchsia and aquamarine over T-shirts and shorts, swishing and swirling them in time to the beat. The teenage boys, solemn in concentration, join in, stepping and stamping, hands clasped behind their backs.
They are clearly having fun, but they and their parents are clear this is not just about keeping them amused. It is about nourishing their Mexican roots, making sure their culture doesn't shrivel and die in this corner of the Deep South.
I have come to Springdale because it is a harbinger of America's future. Ten years ago there were hardly any Latinos here - now they make up more than 30% of the population. Predictions suggest that by 2030, this is what the US will look like.
Changing attitudes? Right now, one in four Americans under 18 is Hispanic - that is, Spanish speakers with roots in Latin America. A lot has been written about the political impact of the growing Latino population, but I am interested in how it could change the culture, indeed the very nature, of the United States itself.
"The richness of our culture is not just music and dance, but who we are," Margarita Solorcano, the director of the dance project, tells me.

“Start Quote

People ask when my relatives came across the border. I tell them, the border came across my ancestors”

"Living here, we have a lot to learn, but we also have a lot to teach, like the family unit, the sense of community, the loyalty to our traditions."
She says they have already altered attitudes in this very traditional and very white part of the world
"I feel it is changing - we are here, and everybody is learning from each other," she says.
"In the Deep South there are people who haven't had the experience of being around other types of people, so when they start mingling with different cultures, their attitudes change."
Of course, some parts of the US have always felt very Hispanic. Large swathes of the South-west were still part of Mexico until the 1860s - just a heartbeat ago in historical terms.
As one young woman in Texas told me recently: "People ask when my relatives came across the border.
"I tell them, the border came across my ancestors."
What is different now is the huge growth in the Latino population far away from the border, sometimes in areas without a tradition of immigration from anywhere but Europe.
One of the dancers, Myra Rivas, suggests the growing Latino population defines one vision of what America should be.
"It will make a huge change," she says. "America is more than just America."

Cinco de Mayo celebrations are held across the US

"Without Hispanics, without all these other cultures, it isn't really America. The US provides opportunities to every single culture there is and that's what makes America different."
When I ask what Latinos specifically bring to the US, she giggles and says: "The food! And our good looks!" The other dancers agree the food is pretty important.
While some Hispanics are wary of this stereotype, it is what many Americans think.
According to one survey around 80% think Latino culture has had a large influence on the US, and most say the biggest impact is on food and music.
It's true that tacos are as American as curry is British.
But perhaps Latinos add more than just a little spice to American life.
Growing a diocese I go to Springdale's St Raphael's Catholic Church in search of a more profound answers. The airy church is framed by two large modern stained-glass windows. Father John Connell is saying Mass in Spanish.
It is one of three mid-week Masses in the language, which he learnt five years ago. After the service he tells me the increase in the Latino population has made a big difference, especially in his diocese, which covers the whole state.

“Start Quote

The country is changing, it is becoming what it is, because of who they are”

Jana McVay English teacher

"It has meant a huge change," Father Connell says. "We are pushing close to 200,000 Catholics in a diocese that used to have around 60,000.
"In the United States our Latino brothers and sisters are a blessing to the church. Without them the church would have been stagnant in numbers."
And he's sure it will grow still more.
"Almost every Latino woman in my parish is pregnant, so they are still in that mode of mother, family, father, three, four, five, six kids. So what's the impact? A huge explosion of Latino babies in the years ahead."
I ask him if a growth in Catholics means America will become more socially conservative. He's wary of that conclusion.
"I agree it may have some type of impact," he says. "Latinos come from predominantly Catholic countries, and their culture and religion are all wrapped up in one.
"We in the United States individualise everything - politics, religion, culture - it is all separate. Will it change? I don't know.
"The second generation will speak English, the third generation, they may not even speak Spanish and they may forget a lot of traditions and culture of their parents. That's the history of any immigrants to this country."
New immigrant waves That's true. But this might be different for Latinos, for a couple of reasons. First of all, the Spanish language is already ubiquitous in the United States, and there are areas of the country where you need speak no English.
There are the big TV networks for a Spanish-speaking audience, Telemundo and Univision, as well as many newspapers and radio stations.
Many public notices, for instance on the buses I take in Washington DC, are all in English and Spanish.
Some schools are bilingual and those irritating automatic telephone options nearly always ask you to press one for English, two for Spanish.
All of this is constantly reinforced by new waves of Spanish-speaking immigrants who may have little English.
At Springdale Har-Ber High School, I sit in on a class for teenagers who are new to America. They are learning English through American history.
"What was the New Deal? Is it a he or a she? No it's an 'it'!"

Businesses and government are taking into account a growing Spanish-speaking population

The animated teacher, Jana McVay, engages the kids, putting her finger to her lips, acting out puzzlement, asking the kids questions.
She says it is important her pupils learn English.
"It's essential if they want to be successful," Ms McVay says. "I want my students to have the American Dream. I don't want my students to think they have to work in a factory.
"If they want to get a management job, go to university, they need to speak English."
But she doesn't think that means they have to lose Spanish, or their culture.
Perhaps becoming American no longer requires subscribing to a narrow vision of what that means.
"I have a friend who is a Latina and she can't speak a lick of Spanish - her parents subscribed to the idea that you come here and you become a Wasp," Ms McVay says.
"But that is changing and I think it will change the country. We talk to the kids here and they have an identity and they need not try to become someone else.
"They are aware that there is no box to fit into. The country is changing, it is becoming what it is, because of who they are."
Brenda and Carlos, two 16-year-old students from Mexico, can't imagine ever feeling American, but understand the lure.
Rick Schaeffer, communications director of Springdale public schools, says this corner of Arkansas is definitely a taste of what is around the corner for the country. And while some around here wouldn't agree, he thinks it is positive.
"America has always been a nation of immigrants, ever since the 1700s," Mr Schaeffer says.
"If you look at the Hispanic culture, they might be more like Americans used to be than Americans are today.
"They are family orientated. You don't see divorce. You sure don't see abortion. They are hard workers. They are industrious.
"In a way, they are a lot like the immigrants who came here in the 1700s, who built our great country into what it is today."
All those I spoke to were positive about what the increase in the Latino population would mean - although I didn't specifically seek out critics.
But I came away with a strong sense of one vision of America - that it is a project still in motion, and that the more it mirrors the world, rather than reflects a European identity that others have to squeeze into, the stronger it is.

China's ambitious plans for its huge reserves

 

What plans does China have for its huge currency reserves

Is it possible to have too much of a good thing?

I ask, because while so many Western governments spend sleepless nights worrying about the size of their trade deficits, China has the opposite problem.
Thanks to its export success, China is the world's largest holder of foreign exchange reserves. Those reserves are growing all the time and currently stand at a record $3.44 trillion.
That's $3,440,000,000,000 if you want all the zeros, or basically the size of the entire German economy.
What's in the reserves is a state secret, but a report in the China Securities Journal a few years ago revealed that 65% was held in dollars, 26% in euros, 5% in pounds and 3% in yen.
The Chinese are the largest holder of US government debt after the US central bank, the Federal Reserve. They also own European government debt, but perhaps not as many bonds from those troubled countries on the periphery as the eurozone governments would like to see.
During the height of the euro crisis the single currency would rise with every indication, sign, hint or vague rumour that China was planning to buy euro area bonds.
You might think that a trade surplus the size of China's would be good news. But according to People's Bank of China officials such as Deputy Governor Yi Gang, it's actually posing problems because of the fixed exchange rate.
Challenges Holding reserves is a way to protect a country's currency from attack, as selling reserves can help sustain the value of a currency. It's a lesson that central banks learned after the Asian financial crisis.

 

Large reserves lead to price rises, including housing

For China, the yuan floats within a narrow band of 1% on either side of a peg, so reserves are helpful. But it's unclear how much a country really needs.
It's not just a worry that the US dollar or euro will depreciate. The concern is also due to reserves contributing too much cash in the economy. That's leading to price rises, including in housing.
When a central bank accumulates reserves, it prints cash (yuan) to buy the dollars, euros, pounds and yen that it adds to its reserves. To prevent that cash from generating inflation (imagine if China added $3.4tn of cash to its $8tn economy), the central bank "sterilises" its actions by withdrawing the equivalent amount of cash from the economy.
It does this by paying interest on money that commercial banks deposit back at the central bank, so encouraging them to leave their cash there.
Sterilisation tends to be incomplete, as banks may want to earn a better return elsewhere instead of parking money at the central bank.
China does it better than most since it has a largely state-owned banking system which tends to do what it's told. Nevertheless, the reserves are still a source of excess money or liquidity.
What China wants

China wants to build global companies like South Korea's Samsung

Compounding the problem is the worry that the central bank may not be earning a great return on those reserves, as the yields (or interest rates) on US and European government bonds are low.
So, instead, China is using its reserves to finance overseas investment. China wants to buy real assets - like ports, utilities, natural resources, technology and financial companies.
This has two benefits for the Chinese.
As well as the hope that real companies will earn better returns than financial instruments, it also helps them to achieve a larger economic goal - to build Chinese multinational companies.
China's 'going out' policy Globally competitive firms could help China raise its technological capacity and productivity. That is key to sustaining economic growth. China would like to follow the example of other countries that have become rich - like South Korea or Taiwan - and develop successful global brands like Samsung and HTC.
This was China's aim when it launched the "going global" or "going out" policy in 2000. The first ever commercial overseas investment was in 2003-04 in Europe when the Chinese firm TCL bought France's Thomson brand. Since then, outward foreign direct investment has grown exponentially and reached record levels.

Chinese direct investment abroad 1982-2010 (US$bn) Source: IMF

Last December was also the first time in which monthly data showed the amount invested overseas exceeded inward investment. That switch is typically an indicator of a country reaching a level of economic development.
State-owned enterprises have invested overseas for more than three decades and will continue to do so. China's state-owned firm, State Grid, the world's largest utility company, has just announced a second foray into Australia's energy market.
But the outward investment is diverse. It isn't just resources and energy. The largest regions for investment are other parts of Asia, followed by Latin America and then Europe.

China's overseas investment
Region	Total	Largest recipient of investment
Source: IMF Stock of overseas direct investment (end 2011)
Asia	$303.4bn	Hong Kong ($262bn)
Latin America	$55.2bn	Cayman Islands ($21.7bn)
Europe	$24.5bn	Russia ($3.8bn)
Africa	$16.2bn	South Africa ($4.1bn)
North America	$13.5bn	US ($9bn)
Oceania	$12bn	Australia ($11bn)

Chinese firms have to receive permission to invest overseas, as the country still controls capital movements. Thus, Chinese investments are driven by what can almost be described as "competitive disadvantage". That is, they invest where the Chinese economy needs bolstering.
So, it's not just resources but also technology and higher valued services - which is why the countries receiving the most investment (excepting places like Hong Kong or the Cayman Islands) are Australia, Singapore and the United States.
However, Chinese investment is not always popular in the countries receiving it. State-financed investment can generate a political backlash, as has been seen in Australia and the United States.
Plus, private Chinese firms can find it challenging to operate due to a lack of transparency as to what is state and what is private. This suggests an important area of reform for China, which is to make it clearer the sources of financing for its overseas deals and the ownership of Chinese companies.
Problem solves itself Chances are, China won't be running the large trade surpluses of the past.
Last year, the surplus fell to less than 3% of GDP from the over 10% reached before the 2008 global financial crisis. They won't sell as much to overseas markets as those economies slowly recover, so China is unlikely to accumulate reserves to the same extent as before.
It also means that it will be more important for Chinese overseas investment to be accepted since China will rely more on having productive and competitive multinational firms to grow. And those firms may increasingly need to raise financing on a more competitive basis.
What is clear that we will see Chinese companies increasingly on the global stage. Their success will matter not only for the companies, but also for the country's continuing growth.

Tumblr and Yahoo: Why sex, jokes and gifs are worth $1.1bn

Users on David Karp's Tumblr platform have posted more than 50 billion entries since the site's inception

Continue reading the main story

Yahoo is desperate to be cool again.

And, like that kid at school who always got the newest gadgets and video games to impress his "friends", there's seemingly no shortage of money available to get what it wants.
Now, just two months after splashing out millions on a UK teenager's app Summly, Yahoo is set to buy one of the hottest properties in social media: Tumblr.
It will reportedly cost $1.1bn (£723m), a smidgen more than Facebook paid for photo-sharing service Instagram last year.
Yet with users already threatening to leave Tumblr en masse, will simply owning something trendy actually boost Yahoo's internet cred?

Continue reading the main story

“Start Quote

It feels like someone is plunging a white hot poker into the woodwork, and setting it slowly on fire.”

Tumblr user

"It's very hard to just buy something cool from somebody else and for it to remain cool," says Robin Klein, a partner at technology investors Index Ventures.

"It's important that the leadership at Tumblr comes into Yahoo, stays in Yahoo, and is a key participant there."
Chief executive Marissa Mayer has confirmed that founder David Karp is to stay with the company. Jimmy Wales, creator of Wikipedia, says this is an important component if the site is to remain a success.
"For a long time Yahoo was viewed in the industry as a very marketing-led company such that any respectable technologist would cringe if they had to work there," he told the BBC.
"Marissa is herself a respected technologist, full-on, and a great business person. And I think she is making all the right moves."
Global in-jokes But what exactly has she bought?

Wikpedia's Jimmy Wales gives his reaction to Yahoo's deal with Tumblr

Tumblr describes itself as a way to "effortlessly share anything" using a mixture of text, pictures, videos and various other formats.
In plain English, Tumblr can be best described as something that exists between Twitter and a traditional blog, for people who have more than 140 characters to say - but not much time in which to say it.
This formula has seen the site notch up more than 100 million registered blogs, which between them have published more than 50 billion posts.
The site was set up in 2006, when Mr Karp put together the first bit of Tumblr's code in a two-week period between jobs. Within a year, Mr Karp was - according to his business partner at the time - now the reluctant chief executive of a rapidly expanding start-up.
But the huge levels of traffic came with predictable teething problems. Tumblr soon started to suffer from a lack of stability, with its equivalent of Twitter's "fail whale" - the screen presented when the service was over capacity - becoming a common and frustrating sight for users.
Several rounds of investment later, and with an employee base that has expanded from two back then to 175 today, the ship has been well and truly steadied.

Continue reading the main story

'We promise not to screw it up'

Yahoo's chief executive took to Tumblr in an attempt to ease the worries of users. This is what she said:
"We promise not to screw it up. Tumblr is incredibly special and has a great thing going.
"We will operate Tumblr independently. David Karp will remain CEO.
"The product roadmap, their team, their wit and irreverence will all remain the same as will their mission to empower creators to make their best work and get it in front of the audience they deserve.
"Yahoo! will help Tumblr get even better, faster."

And now, Tumblr thrives. Famed for its lightning-quick set-up speeds allowing people to have a great-looking, full-featured blog in seconds, Tumblr is centre stage in the internet community.

Tumblr's forte lies in viral hits or memes, global in-jokes which capture the mood of sometimes niche but passionate readers.
One recent example, White Men Wearing Google Glass, pokes fun at the ever-so-dorky appearance of those keen to show off Google's latest invention.
Last year's stand-out hit was Texts From Hillary Clinton - a collection of images captioned with humorous examples of what the then US Secretary of State may have been writing.
Clinton herself was a fan - the last image is one of her with the blog's creators.
Tumblr is even credited with bringing about the resurgence of the animated gif - an image format that until recently had been seen as tacky and outdated, but is now a key component of discourse and comedy online.
Not safe for work All that sounds very appealing to Yahoo and its investors - but there is one elephant in the room that needs to be acknowledged. Or rather, naked people in the room.
Tumblr is bursting with amateur pornography. The company does not give a breakdown of how many of its sites are adult-orientated, but it's clear it has no issue in accommodating them.
The site's terms of service say sharing of explicit pictures is fine - as long as it is clearly labelled as NSFW, meaning not safe for work.
As for explicit video, it's a no-no to use Tumblr's own video feature to upload adult clips, but embedded videos uploaded elsewhere is not a problem - indeed, Tumblr even recommends a specific pornographic site to do just that.
It's an approach that could create problems for Yahoo, predicts Index Venture's Robin Klein.

Yahoo's Marissa Mayer is working to revive the company's fortunes

"This is where segmentation becomes so important," he tells the BBC. "Advertising must go to where it wants to be.
"There's no way advertisers will be happy to end up on porn sites."
US technology news site AllThingsD has reported a "source close to the situation" as saying Yahoo would have a hands-off approach to running the site - porn and all - once it is under their control.
Abandon ship! But that hasn't stopped some users getting nervous.
"They're going to lose a number of bloggers," predicts Mr Klein.
"I'm sure they've factored that into their thinking. They're going to have to manage this."
Wordpress - a rival blogging platform - reported that more than 72,000 people imported their Tumblr blogs to Wordpress in just one hour on Sunday evening.
Within moments of the news of the probable buyout becoming public, bloggers flocked to Tumblr to express their dismay.
One user wrote: "Tumblr has been my safe place for three years now, and it feels like someone is plunging a white hot poker into the woodwork, and setting it slowly on fire. Thanks Yahoo."
A search for the term Yahoo on the site brings many more examples - some with colourful language.

Much of Tumblr's development team will join Yahoo

Yahoo will be hoping that, like so many internet storms, this anger will drift away - leaving behind a highly active, highly profitable bounty.
"Tumblr so far has not made a huge amount of money," says Luke Lewis, UK editor of news site Buzzfeed.
"But the potential is there. The people who use Tumblr are really young, they are really engaged and spend hours a day on Tumblr."
And while seemingly unpopular, Yahoo does at least have one thing going for it, according to one user.
"At least it wasn't bought by Facebook."

Oscar Pistorius will not compete for the rest of the year

Paralympic gold medallist Oscar Pistorius will not compete again this year as he awaits trial for murder.

Pistorius, 26, is on bail after being charged with the murder of girlfriend Reeva Steenkamp, but can compete before his court case is heard.
His agent, Peet van Zyl, said the six-time Paralympic champion was not mentally ready to return to the track.
"There was never any pressure from me or his coach (Ampie Louw) to return, it's his decision," said Van Zyl.

Oscar Pistorius - the athlete

• Pistorius had his lower legs amputated at the age of 11 months, having been born without a fibula in either leg
• His parents, Henke and Sheila, were advised that having the amputation done before he had learned to walk would be less traumatic
• By the age of two, Pistorius had his first pair of prosthetic legs
• He played water polo and rugby in secondary school. He also played cricket, tennis, took part in triathlons and Olympic club wrestling and was an enthusiastic boxer
• In June 2003, he shattered his knee playing rugby and on the advice of doctors took up track running to aid his rehabilitation
• Pistorius has won six Paralympic gold medals

It means the South African will not compete in the IPC World Championships in Lyon in July.

Pistorius was arrested after shooting Steenkamp dead on 14 February.
The athlete, known as Blade Runner, claimed he mistook Steenkamp for a burglar and has denied murder.
On 22 February Pistorius was granted bail and had certain conditions lifted which meant he could compete in events outside his homeland.
Pistorious's coach was quoted by Eye Witness News in South Africa as saying his athlete was "nowhere close" to being in a position to train.
The double amputee had not been invited to compete in July's London Anniversary Games, with UK Athletics chairman Ed Warner saying he did not want the meeting to turn into a "media circus".
However, his agent said meeting organisers had been in touch with the view of inviting Pistorius to compete in their events.
"[There] were a good number, enough to keep him busy through the year," added Zyl.
The Paralympian is next due in court on 4 June and a trial is expected to take place before the end of this year.

Car bomb attacks kill dozens in Iraqi cities

An eyewitness in Basra described a tea seller "disappearing" in the blast

At least 54 people have been killed and many others injured in a series of car bomb attacks in central and southern Iraq, officials say.

Baghdad was worst hit, with nine explosions at bus stations and markets in the mainly Shia Muslim districts.
Two bombs went off earlier in the day in the southern city of Basra, and a blast in Samarra killed three people.
The attacks are part of the recent rise in violence in Iraq linked to growing political and sectarian tension.
Police said nearly 200 people were injured in Monday's violence in Iraq. Eight Iranian pilgrims are reported to be among the dead.
One of the bloodiest attacks in Baghdad happened in the northern Shia neighbourhood of Shaab, when a car bomb exploded near a crowded market place killing at least 12 people and wounding more than 20.
The bombs in Basra, a mainly Shia Muslim city, killed at least 14 outside a restaurant and the main bus station.

"We were sitting here waiting for work and as usual we gathered near a street food cart and the place was very crowded," Basra resident Mohammed Ali, who was near one of the blasts, told Reuters news agency.
"I crossed the street to the other side when all of a sudden it turned dark, dust filled the area. I was showered with metal wreckage and wounded in my legs."
A further three people were killed and 15 wounded in a car bomb attack in Samarra, a city some 113km (70 miles) north of Baghdad. The blast reportedly happened near a gathering of members of the pro-government Sunni militia, the Awakening Council.
In a separate incident, 10 policemen kidnapped on Saturday in western Anbar province have been found dead.
No group has said it carried out Monday's bomb attacks, but tension between the Shia Muslim majority, which leads the government, and minority Sunnis has been growing since last year.
Sunni demonstrators have accused the government of Prime Minister Nouri al-Maliki of discriminating against them - something the government denies.
Syrian impact Iraqis have not witnessed violence on the scale of the last few weeks for nearly five years, says the BBC's Aleem Maqbool in Baghdad.
The Shia-Sunni fault line, with Syria currently at its epicentre, is certainly contributing, he notes.

Continue reading the main story

Iraq's Shia and Sunnis

• Shia Muslims make up roughly 60% of population. Were persecuted during presidency of Saddam Hussein, a Sunni. Have since dominated politically
• Sunni militants linked to al-Qaeda targeted Shias during worst of sectarian violence in 2006 and 2007.
• Many Sunnis were driven out of mixed areas and government security forces were accused of widespread abuses against Sunnis
• Sunni Iraqis say they are discriminated against politically and economically. Sectarian conflict has fuelled massive internal displacement and emigration
• Religions: 97% Muslim (Shia 60%-65%, Sunni 32%-37%), Christian or other 3%
• Ethnicity: Arab 75%-80%, Kurdish 15%-20%, Turkoman, Assyrian, or other 5%

• Quick guide: Sunnis and Shias

But Iraqis do not see their own politicians doing enough to unite people on both sides of the sectarian divide, and they do not see the international community showing the urgency they think it should in averting further chaos, our correspondent adds.

Violence has increased since more than 50 people died in clashes between security forces and Sunni Arabs in April, when an anti-government protest camp was raided in Nawija near Kirkuk.
At least 60 people died in three bombings in Sunni Muslim areas in and around Baghdad on Friday. Those bombings followed deadly attacks on Shia targets across Iraq.
On Sunday, at least 10 policemen were reported killed in north-western Iraq in attacks blamed by the authorities on Sunni militants.
Basra had been seen as relatively peaceful, but there too, violence has risen in recent months.
In March, a car bomb in the city killed 10 and wounded many others. On Saturday gunmen there shot and killed a Sunni Muslim cleric.
The increasing number of incidents has raised fears that Iraq could return to the worst of the sectarian conflict seen in 2006 and 2007.

Ferguson era ends with 10-goal thriller; Arsenal pip Spurs for fourth

Alex Ferguson receives a guard of honor from his Manchester United players to mark his 1500th and final game in charge of the new EPL champions.

Alex Ferguson's 1500th and final game in charge of Manchester United ended with a freak 5-5 draw at West Bromwich Albion Sunday while Arsenal claimed the final Champions League place on the last day of the English Premier League season.

Ferguson's farewell looked to end in customary winning fashion as the new champions led 3-0 and 5-2 at the Hawthorns until the home side hit back with three late goals in five minutes, Romelu Lukaku equalizing to complete his hat-trick.

It is the first time in the history of the EPL that two sides had shared 10 goals in a match.

It also marks the end of an era with the 71-year-old Ferguson ending his 26 year reign at Old Trafford with 38 trophies, including 13 EPL titles.

Alex Ferguson's recipe for success

CNN FC: Moyes replaces Ferguson

Moyes named manager of Manchester United

How to manage like Alex Ferguson

Manchester fans say so long to Fergie

Hargreaves: Scholes is the best

Michael Owen's Liverpool regret?

Paul Scholes, so influential for United in their prolonged triumphs under the Scot, joined him in retirement. The 38-year-old midfielder came on as a substitute in the 69th minute, shortly before WBA's extraordinary comeback.

Read: Fergusons' remarkable triumphs

It was a day marked by other farewells as Liverpool stalwart Jamie Carragher and his former club and England teammate Michael Owen, now with Stoke, ended their playing careers.

Chelsea interim manager Rafael Benitez also took charge of the Blues for the final time, seeing Fernando Torres score the crucial goal in a 2-1 win over Everton which finally sealed third spot ahead of Arsenal.

It was also David Moyes' last game in charge of Everton before he takes over from Ferguson at United.

With relegation matters settled by Arsenal's 4-1 defeat to condemn Wigan to the drop in midweek, Arsene Wenger's team needed to win at Newcastle to deny North London rivals the coveted fourth spot.

A goal from French defender Laurent Koscielny just after halftime proved enough despite some nervy late moments.

The anxiety increased as news came from White Hart Lane that another Gareth Bale wonder strike had given Tottenham a late 1-0 lead against 10-man Sunderland, who had David Vaughan sent off.

But Arsenal, who mounted an impressive late season charge, were left to celebrate a 17th straight year in Europe's premier club competition.

Read: Tears and cheers as Beckham plays final home game

"The players are special. I've told them many times but they've shown it in the last two months they've been absolutely exceptional," Wenger told Sky Sports.

Tottenham must contemplate the Europa League again after finishing one point adrift.

It was cruel for manager Andre Villas-Boas, his side achieving the highest points tally with 72 of a side not qualifying for the Champions League.

"It is difficult to take, in the end we did what we had to but Arsenal did their job well and go through. It is difficult at this moment," he told Sky Sports.

Manchester City, without a manager after dispensing with Roberto Mancini, slumped to a 3-2 home defeat to Norwich, but had already clinched second spot.

Read: Barcelona lift La Liga title for 22nd time

Stoke, with Owen coming on for 16 minutes, drew 1-1 with Southampton while FA Cup winners Wigan drew 2-2 with Aston Villa.

Reading, relegated with Wigan and QPR, lost 4-2 at West Ham and Fulham won 3-0 at League Cup winners Swansea.

Carragher hit the post but Liverpool saw off QPR 1-0 at Anfield with Philippe Coutinho scoring the only goal.

Beijing travel: 72 hours in the Chinese capital

You can now visit the city visa-free for up to 72 hours. Here's how to cram the best of Beijing into three days

For delicious, handmade noodles, Beijing's Noodle Bar is a solid choice.

Travelers looking to visit Beijing without the hassle of obtaining a visa are in luck: at the beginning of 2013, the Chinese government lifted visa requirements for tourists laying over in Beijing or Shanghai for up to 72 hours.
Are three days enough to take in the best of Beijing? It's a tight squeeze, but here’s how to make the most of a 72-hour trip to one of the world’s most vibrant cities.
More on CNN: Visas waived for Beijing transit travelers 

Day 1

Lama Temple was the residence of Emperor Yongzheng before he was enthroned in Forbidden City during the Qing Dynasty. Occupying more than 66,000 square meters, it's the largest Tibetan Buddhist temple in the city.
3 p.m.: The best way to settle into Beijing after checking into a hotel is with a long walk from the city's Lama Temple to Houhai Lake.
Most choose to begin the trip with a quick temple visit, then a walk west through Wudaoying Hutong, a street that captures the spirit of the city’s hipster scene.
You’ll find quirky shops selling everything from fixed-gear bicycles to succulent plants, and even a cat cafe.
If you turn south until you hit Gulou East Street, and continue west through the hustle and bustle of endless vendors and cafes, you'll reach the Drum and Bell Towers. There's a 4:30 p.m. drum performance, worth checking out before heading to Houhai for a lakeside stroll.
We suggest skipping Houhai’s bars and restaurants, which tend to be underwhelming tourist traps. And have fun trying not to get coerced into a rickshaw ride by the notoriously pushy drivers.
Lama Temple, 12 Yonghegong Dajie; Bell and Drum Towers, north end of Dianmen Dajie
7 p.m.: No need to leave this happening neighborhood for dinner. Dali Courtyard offers some of the city’s best Yunnan cuisine, a region of China that takes culinary cues from neighbors Myanmar, Laos and Vietnam.
Flavorful dishes such as crispy shrimp with lime leaves pair well with a mug of Dali beer and the intimate traditional courtyard setting.
For a restaurant that hits closer to Beijing, Mr. Shi’s Dumplings offers homey and typical but tasty Chinese dishes such as kung pao chicken and delicious pork and chive fried dumplings.
Dali Courtyard, 67 Xiaojingchang Hutong; +86 (10) 8404 1430
Mr. Shi’s Dumplings, 74 Baochao Hutong; +86 (10) 8405 0399
9:30 p.m.:  For a few drinks, there's nearby Modernista, where you may be able to catch live music or dance performances. The bar has a Parisian jazz age feel, a lively crowd and reasonably priced drinks.
Modernista Old Cafe & Tapas Bar, 4 Baochao Hutong; +86 (0)13 6712 74747
More on CNN: For Beijing's best food, hit the hutongs

Day 2

For a less crowded Great Wall experience there's "wild" Jinshanling, about 125 kilometers outside of Beijing.
8 a.m.: If you're only in China for a brief visit and a trip to the Great Wall is on your gotta-do list, the best way to get there is to hire a driver or join a group tour.
The trip should take two to three hours, depending on which section you visit. Sections in the “wilder” parts of the Wall, such as Jinshanling or Jiankou, are unrestored and have fewer crowds.
Athletic types may want to join expat hikers for the day; Beijing Hikers frequently offers all-inclusive trips to the Wall at competitive prices.
Beijing Hikers; +86 (10) 6432 2876
4 p.m.:  The best way to relieve achy muscles after climbing the Wall is a Chinese massage. Dragonfly and Hummingbird spas are dependable and clean with Western facilities and English-speaking staff.
Dragonfly Retreat, 60 Donghuamen Dajie; +86 (10) 6527-9368 
Hummingbird Retreat, Tower 26, Central Park, Chaoyangmen Wai; +86 (10) 6533 6922

6 p.m. One of the top places to pick up traditional Chinese knickknacks and other fun souvenirs is the Silk Street Market. This is the place for handbags and inexpensive pearl jewelry, Chinese costumes and iPhone cases. Be prepared to bargain hard.
Silk Street Market, 8 Xiushui Dongjie; +86 (10) 5169 9003
8 p.m. Tonight's the night to feast on Beijing’s most celebrated dish, Peking duck.
Tourists and locals alike flock to Da Dong for some of the city’s best crispy-skinned, juicy duck accompanied by delicate pancakes. Other top dishes here include a delectable pork belly and hearty chestnut and chicken soup.
Da Dong, 5/F, Jinbao Place Shopping Mall, 88 Jinbao Jie; +86 (10) 8522-1111
More on CNN: The old road: How to cycle around Beijing

Day 3

Who says the best views have to be sky high? Even on smoggy days -- there are many -- Capital M doesn't disappoint.
9 a.m. For a Chinese-style breakfast off the street, widely available favorites include steamed buns and jian bing, a tasty crepe with fried egg and sauce. Next stop: the Forbidden City.
You can spend all day at this Beijing icon without coming close to seeing it all. If viewing imperial art from the Ming and Qing dynasties is a priority, spare a bit of time for the Palace Museum.
Forbidden City, 4 Jingshan Qian Jie
Noon: One of the best places in Beijing to sit back and people watch is Tiananmen Square, where throngs of Chinese tourists visit from all over the country and vendors bustle around.
For lunch, at the south end of the square there are many cheap and cheery restaurants in the hutongs.
Karaiya Spice House, a Beijing hotspot. 2 p.m.: Contrary to popular belief, there are green spaces in Beijing. Jingshan Park has lush scenery and traditional architecture.
It's also quotidian China at its best: retirees dancing and singing, doing water calligraphy and exercising their caged birds. A climb up the park’s hill to Wanchun Pavilion offers sweeping views of the Forbidden City.
Jingshan Park, 44 Jingshan Xi Jie
More on CNN: Insider guide: What to do in Beijing
5 p.m.: Time for a drink. The terrace at Capital M in Qianmen offers some of Beijing's best views and the beautifully decorated restaurant is a great place for an evening aperitif  -- even on a smoggy day.
Capital M, 3/F, 2 Qianmen Pedestrian Street; +86 (10) 6702-2727
7 p.m.: The best place to experience Beijing’s modern, flashy side is Sanlitun, a highly developed area popular for its bars and restaurants such as Karaiya Spice House. This trendy, super spicy, Hunanese restaurant serves up incredible chili-crusted ribs.
Carb lovers can hit up the Noodle Bar for delicious, handmade noodles.
Karaiya Spice House, 3/F, Bldg. 8, Taikoo Li South, 19 Sanlitun Road; +86 (10) 6415-3535
Noodle Bar, 1949- The Hidden City. Courtyard 4, Gong Ti Bei Lu; +86 (10) 6501-1949
9 p.m.: When the weather is nice Beijing's fine young things head for the rooftop of Migas, a trendy lounge and restaurant. The rooftop patio has space-age touches, like egg-shaped cabanas.
Another popular place is Apothecary. Offering homemade infusions and bitters, it's arguably the best cocktail bar in Beijing.
Migas, 6/F, Nali Patio, 81 Sanlitun North Road; +86 (10) 5208 6061
Apothecary, 3/F, Nali Patio, 81 Sanlitun North St.; +86 (10) 5208 6040
More on CNN: Beijing's 'big 4' sites

Day 4

The Tower of Buddhist Incense, at Beijing's Summer Palace. 9 a.m.: Last day in Beijing. You didn't think we'd leave out Beijing's Summer Palace, did you?
It's a great place to spend a few hours exploring the massive gardens and pavilions. It's also home to Kunming Lake and Empress Cixi’s infamous marble boat.
If you're looking to splurge on a final luxurious lunch before you leave the city, the Aman Hotel’s Cantonese restaurant is the place to relax over dim sum before you head to the airport to catch your flight.

Gas prices lower, but not leading to more spending

About 80% of the people surveyed by Bankrate.com, said they have not increased their discretionary spending in response to falling gas prices this year.

NEW YORK (CNNMoney)

Gas prices are slightly lower this year, but that's not leading to a large pick-up in consumer spending, according to a survey by Bankrate.com.

About 80% of the 1,000 people Bankrate surveyed said they have not increased their discretionary spending in response to falling gas prices this year.

Perhaps it's because prices have been choppy?
Gas prices rose for 34 straight days at the beginning of the year, then fell through most of March and April. They have since risen again slightly. That said, gas is still cheaper compared to a year ago. As of Friday, a gallon of unleaded gasoline cost $3.62, according to AAA. That's about 10 cents lower than the same time last year.
Economists have welcomed this year's lower gas prices as an inadvertent stimulus. Many have said that cheaper gas could lessen the blow from the higher payroll taxes that went into effect at the start of the year.
Related: Oil companies target America for investment
But gas prices may have not fallen enough to make up for the decline in take-home pay, said Greg McBride, Bankrate's senior financial analyst.
"Budgets are still really tight, and households cannot lean against the crutch of credit to support their lifestyles," he said. "There's not a whole lot of extra room in their budgets to throw extra money around."
In the prior two years, Bankrate studies showed most Americans cut back on discretionary purchases in response to rising gas prices.

New tornado strikes Missouri as rash of central U.S. twisters kills 1

Tornadoes rip through Oklahoma

(CNN) -- [Breaking news update at 2:05 a.m. ET]

(CNN) -- A tornado touched down in Golden City, Missouri, early Monday morning and tore through two counties, Barton County Emergency Management Director Tom Ryan said. The number of injuries and extent of damage were not immediately clear.

[Breaking news update at 1:56 a.m. ET]

(CNN) -- Two people missing from a trailer park in central Oklahoma have been found, Pottawatomie County Sheriff Mike Booth said. The two residents were not there when a tornado devastated Steelman Estates, destroying homes.

[Earlier story, updated at 11:25 p.m. ET]

Four-state tornado outbreak kills 1

(CNN) -- At least one person was killed and around a dozen injured Sunday when a string of tornadoes tore through four states, ripping roofs off homes, downing power lines and tossing trees like matchsticks.

The death happened at a trailer park in Pottawatomie County, Oklahoma, said Sheriff Mike Booth. He had no details, other than that the deceased was an adult male.

Rescue crews were picking through the mangled metal remains of mobile homes as darkness fell Sunday.

Tornadoes leave path of destruction

See funnel cloud in Oklahoma

See massive tornado in Kansas

Photos: Weather around the world

As many as 26 tornadoes were reported in Oklahoma, Kansas, Illinois and Iowa, according to the National Weather Service, with Oklahoma and Kansas being the hardest hit. Some of those reports might have been of the same tornado.

Oklahoma Gov. Mary Fallin declared a state of emergency for 16 counties.

One tornado touched down near Wellston, Oklahoma, taking out power lines and damaging several homes, according to video from CNN affiliate KFOR. The affiliate's helicopter pilot estimated the funnel cloud to be about a half-mile wide.

"It's tearing up everything," the pilot said. "Just ripping everything up in its sight."

Aerial video from KFOR and CNN affiliate KOCO showed severe damage near Wellston and near Carney, Oklahoma. Roofs were ripped from homes, branches stripped from trees and roads were filled with debris.

Tornadoes were also reported east of Dale, west of Paden, and near Prague in Oklahoma.

Part of Interstate 40 in Shawnee, Oklahoma, was shut down in both directions Sunday night after a tornado touched down there, overturning multiple tractor-trailers.

Eleven patients were being treated at St. Anthony Shawnee Hospital in Shawnee, Oklahoma, said spokeswoman Carla Tollett. Ten were not critical and will be released, while one remains in critical condition, she said.

Still more tornadoes were spotted in Iowa, near Earlham, Huxley and east of Dallas Center, according to the weather service.

It did not mince words, telling people to take cover there, as elsewhere.

"You could be killed if not underground or in a tornado shelter. Complete destruction of neighborhoods, businesses and vehicles will occur. Flying debris will be deadly to people and animals," it said in a Kansas advisory.

The twisters are part of a severe weather outbreak that is sweeping through the region as storms move east.

Baseball-sized hail, wind gusts and tornadoes are threatening to pummel parts of the central Plains and Midwest through Monday.

"We still have a couple of active cells, and so we don't know for sure that it's over yet," said Jerry Lojka with the Oklahoma Department of Emergency Management.

Beyond the Midwest, other areas saw severe weather on Sunday. In Atlanta, serious flooding was reported amid storms producing heavy rainfall.

Here's a quick look at CNN meteorologist Melissa Le Fevre's forecast for Monday for hard-hit Midwestern states:

Kansas

The surface front may stall on Monday, leading to showers and thunderstorms through the day. Localized heavy rainfall may lead to the need for flood watches and warnings.

Oklahoma

There is a threat for strong storms in the late afternoon. With the heavy rain that will occur through the weekend, flooding could become a problem Monday night.

Iowa

Showers and storms are expected to develop on Monday afternoon. Large hail is possible and though the tornado threat looks low, it cannot be ruled out.

Missouri

Flooding is expected to become an issue after localized heavy rainfall. Afternoon storms could produce large hail, damaging wind gusts and possible tornadoes. In St. Louis, storms will reorganize during the afternoon and evening hours. Threats include large hail, damaging winds and the possibility of tornadoes.

China's red-hot property market shows no signs of slowing

Property prices continued to rise last month in China, defying policymakers who have sought to cool the housing market while preserving robust economic growth.

Housing prices rose in 68 of 70 Chinese cities in April when compared to the previous month, according to the National Bureau of Statistics. Compared to last year, prices were higher in all but two of the 70 cities tracked by the government.

Prices in the capital, Beijing, registered one of the largest increases, rising 10.3% over the previous year. In the southern manufacturing hub of Shenzhen, prices jumped 11.3%.
On average, new home prices across the cities increased 4.3% over the previous year.
Fearing the development of a real estate bubble, China has sought to stem rising property prices in recent months. But policymakers have also been forced to consider the broader impact of such policies as China's economy shows signs of slower economic growth.
"This [data] suggests that polices aimed at cooling the property market have not yet tightened sufficiently," said Zhiwei Zhang, an economist at Nomura. "We believe this will add further pressure on the government to tighten monetary policy in the months ahead."
China's urban housing costs have grown for much of the last decade, sparking a cycle of government reaction. Earlier this year, the central government directed local governments to rein in housing prices by April 1.
Authorities in Shanghai told banks to stop issuing loans to individuals attempting the purchase of a third home.
Beijing announced that single residents will now be allowed to purchase only one home. Both cities said they would strictly enforce a 20% capital gains tax on income earned in property sales.
The announcements set off a fresh wave of buying to beat the restrictions, and some couples even hatched schemes to skirt ownership restrictions by obtaining a divorce

Iran claims it hanged CIA, Mossad spies

(CNN) -- Two men who the Iranian government said worked as spies for Israel and the United States were hanged Sunday morning, according to Iranian state news outlet Press TV.

The men were identified as Mohammad Heidari and Kourosh Ahmadi. Press TV said Heidari provided classified information to Mossad, the Israeli intelligence agency, and Ahmadi had been convicted of providing the CIA with intelligence.

There were no details on when the men were arrested or when they were tried. The hangings occurred at dawn, the report said.

Israeli officials didn't comment on the report.

The U.S. State Department acknowledged seeing the reports but had no comment. The CIA didn't immediately respond to CNN's request for comment.

The advocacy group Human Rights Activists News Agency, based in Iran, estimated in 2012 that there were 488 hangings in the prior 12 months. About 12% of those were public executions, the group said, according to a State Department report.

One person hanged in 2012 was Majid Jamali Fashi, who was convicted of killing an Iranian scientist. Iran said Israel paid him $120,000 to kill elementary-particle physicist Massoud Ali-Mohammadi.

Iran also has blamed the United States and the United Kingdom for attacks against nuclear scientists.

Iran's enrichment of uranium has been one of the most contentious issues in nuclear talks between Iran and the so-called P5+1 countries -- the United States, France, Britain, China, Russia and Germany. Iran has denied that it aims to build a nuclear bomb, claiming its nuclear program is for energy and medical use.

Iran also holds a former U.S. Marine, Amir Hekmati, who was detained in August 2011 while visiting his grandmother. Iranian authorities accused him of spying for the CIA, a charge his family and the Obama administration deny.

Originally he was sentenced to death during a closed-door trial, but that conviction was overturned, and the Arizona native awaits a new trial.

2 FBI agents die in hostage rescue training exercise

Two FBI special agents were killed Friday during a training exercise off the coast of Virginia Beach, Virginia, the bureau said in a statement released Sunday.

"Special Agent Christopher Lorek and Special Agent Stephen Shaw were assigned to the FBI's Critical Incident Response Group. The cause of the incident is under review."

An official who asked not to be identified told CNN that the two agents were killed in a hostage rescue training exercise.

The official gave no further details

Welcome to Naija Gist: Myanmar president set to meet Obama

Welcome to Naija Gist: Myanmar president set to meet Obama: The former general will also seek to woo US businesses that see a lucrative market in former Western pariah nation. ...

Welcome to Naija Gist: Post-Chavez Venezuela makes overture to US

Welcome to Naija Gist: Post-Chavez Venezuela makes overture to US: Venezuela's President Nicolas Maduro ha...

Welcome to Naija Gist: Canada's top aide quits over expenses scandal

Welcome to Naija Gist: Canada's top aide quits over expenses scandal: Nigel Wright, the prime minister's chief of staff, resigns after secretly giving a $87,000 cheque to a Senate member. ...

Welcome to Naija Gist: Canada's top aide quits over expenses scandal

Welcome to Naija Gist: Canada's top aide quits over expenses scandal: Nigel Wright, the prime minister's chief of staff, resigns after secretly giving a $87,000 cheque to a Senate member. ...

Welcome to Naija Gist: Nigerian army blockades Boko Haram base

Welcome to Naija Gist: Nigerian army blockades Boko Haram base: Nigerian soldiers have blocked roads out of a key northeastern city to deprive Boko Haram fight...

Welcome to Naija Gist: Yahoo 'to buy Tumblr in $1.1bn deal'

Welcome to Naija Gist: Yahoo 'to buy Tumblr in $1.1bn deal': US company reported to have agreed to buy blogging and social networking site in bid to attract younger user base. ...

Welcome to Naija Gist: Texas to take BP and Halliburton to court

Welcome to Naija Gist: Texas to take BP and Halliburton to court: Texas, alleges the companies and others "engaged in wilful and wanton misconduct" in the 2010 Deep Horizon oil spill. ...

Welcome to Naija Gist: Texas to take BP and Halliburton to court

Welcome to Naija Gist: Texas to take BP and Halliburton to court: Texas, alleges the companies and others "engaged in wilful and wanton misconduct" in the 2010 Deep Horizon oil spill. ...

Texas to take BP and Halliburton to court

Texas, alleges the companies and others "engaged in wilful and wanton misconduct" in the 2010 Deep Horizon oil spill.

An estimated 4.9 million barrels were spilled by the offshore oil rig Deepwater Horizon [AFP]

Texas has joined the crowd of Gulf of Mexico states to file suit against BP Plc, Halliburton Co and others for their role in one of the worst oil spills in US history. The complaint, filed on Friday in US District Court in Beaumont, Texas, alleges that the companies and others "engaged in wilful and wanton misconduct" for their role in the 2010 Deepwater Horizon oil spill. The state has accused the firms - as well as Transocean, Anadarko and BP America in its suit - of violating Texas' environmental regulations. Texas is seeking money from "lost" tourism revenues due to the spill, as well as monies that would have been generated from state park entrance and concession fees by visitors to the coastal communities. In addition, the state is seeking civil penalties for each day the oil spilled into the Gulf, and each barrel spilled into the water, as compensation for natural resources that were "injured, destroyed or lost." An estimated 4.9 million barrels were spilled, but BP has argued that 800,000 barrels that were recovered should be excluded from calculations for the purposes of any legal settlement. Texas joins four other states that have sued BP and other companies in connection to the spill: Florida and Mississippi filed complaints last month, while Alabama and Louisiana did in 2010. In April of 2010, a surge of methane gas known to rig hands as a "kick" sparked an explosion aboard the Deepwater Horizon rig that killed 11 people. The vessel sank two days later. London-based BP was the majority owner and operator of the Macondo well and Swiss-based Transocean Ltd owned the rig, which was drilling the 1.6 km-deep well in the Gulf of Mexico off Louisiana's coast. BP also is fighting a court battle in New Orleans over fines and other potential spill liabilities, but it struck a deal last year with a wide range of compensation claimants, including businesses. The total amount was not set, and BP has set aside over $8bn to make the payments, but it now sees those business economic loss (BEL) payments escalating, and is challenging the way they are being calculated - calling some of the claims "fictitious" and "absurd." It has already lost one appeal to have the payments stopped and now plans to go to a higher court.

Myanmar president set to meet Obama

The former general will also seek to woo US businesses that see a lucrative market in former Western pariah nation.

Myanmar President Thein Sein is set to become the first leader of his country to visit the White House in nearly half a century, in one of the most symbolic US gestures yet to support his reforms. In a scene that would have been unimaginable just a few years ago, the former general will meet with President Barack Obama on Monday and later seek to woo US businesses that see a lucrative market in the former Western pariah nation. Critics say that Obama's invitation was premature and takes pressure off Myanmar to address still-alarming abuses such as recent anti-Muslim violence to which security forces allegedly turned a blind eye. Thein Sein, who took office as a nominal civilian in 2011, surprised even cynics by freeing hundreds of political prisoners, easing censorship and letting long-detained opposition icon Aung San Suu Kyi enter parliament. Speaking at the office of Voice of America, Thein Sein said he would tell Obama that the reform path is stable and call for a complete end to the economic sanctions which the United States has mostly suspended. "Relations have greatly improved thanks to the policies of President Obama," he told a forum at the broadcaster on Sunday. "For our political reforms, we also need more economic development." Preserving independence The most critical test of reform will come in 2015, when Myanmar is scheduled to hold elections -- testing whether the military and its allies would be willing to cede power, potentially to Suu Kyi. Thein Sein did not budge on the constitution's allocation of 25 percent of seats in parliament to the armed forces, saying that the military had preserved Myanmar's independence. "It is a defensive force. You cannot deny their place in politics," he said. The army seized control of the country then known as Burma in 1962, ushering in decades of isolation. Military ruler Ne Win in 1966 was the last leader to visit the White House, where he met president Lyndon Johnson. Obama has made Myanmar a key priority and visited in November. To some, Myanmar represents the biggest success from his pledge in his 2009 inaugural address to reach out to US foes if they "unclench" their fists.

Yahoo 'to buy Tumblr in $1.1bn deal'

US company reported to have agreed to buy blogging and social networking site in bid to attract younger user base.

Yahoo CEO Mayer is expected to make an announcement later on Monday at an event in Manhattan [Reuters]

The board of Yahoo has approved a deal to buy blogging and social networking site Tumblr for $1.1bn in cash, according to the Wall Street Journal newspaper. The acquisition of Tumblr, a fast-growing platform popular with young users, would be Marissa Mayer's, Yahoo chief executive, largest deal since taking the helm of the once-iconic internet company in July 2012. Mayer is expected to make an announcement later on Monday at an event in Manhattan in which the company promised to "share something special," without elaborating. Peter Kafka, media reporter at the technology blog All Things Digital, told Al Jazeera that it will take a little time before being able to evaluate whether the potential billion-dollar gamble had paid off. "What [Mayer] has done is something that will immediately add an audience that you can see [and] that you can see the impact of Yahoo's overall reach," he said. "What she's done is something where she can immediately add an audience that you can see that will have an immediate impact on Yahoo's overall reach." Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," according to All Things Digital. Mayer, who spent 13 years at Google, is trying to revitalise a former internet powerhouse that in recent years has struggled with declining business. Yahoo declined to comment, while Tumblr did not respond to requests for information. The deal comes after a recent failed attempt by Yahoo to buy a controlling stake in French video site Dailymotion, owned by France Telecom. Tumblr, one of the more successful internet start-ups out of New York, has only just begun earning revenue through advertising. On its home page, Tumblr says it hosts 108 million blogs, with 50.7 billion posts between them.

Canada's top aide quits over expenses scandal

Nigel Wright, the prime minister's chief of staff, resigns after secretly giving a $87,000 cheque to a Senate member.

Canadian Prime Minister Stephen Harper said he accepted Wright's resignation with great regret [Reuters]

The top aide to Canadian Prime Minister Stephen Harper has resigned over his role in an mounting expenses scandal which is threatening to undermine the Conservative government. Nigel Wright, Harper's chief of staff, quit on Sunday after secretly giving a C$90,000 ($87,000) cheque in February to Mike Duffy, a member of the upper Senate chamber, to help him cover living expenses he had improperly claimed. News of the gift leaked on May 14. Opposition legislators said the cheque broke ethics rules that forbid senators from taking presents and made a mockery of the government's repeated promises to increase accountability in Ottawa. Duffy, a former national television journalist, resigned from the Conservative caucus on Thursday. Officials told reporters on Friday that the chief of staff - who says he did not tell Harper about the cheque - would be staying. 'Regret the impact' "In light of the controversy surrounding my handling of matters involving Senator Duffy, the prime minister has accepted my resignation," Wright said in a statement. "I regret the impact of this matter on the government, our caucus, and all of my colleagues," added Wright, a businessman who had been on secondment to Harper's office from private equity firm Onex Corp. He started work on January 1, 2011. The expenses scandal is one of the biggest crises to hit the Conservatives since they took power in early 2006 promising to clean up government after a series of scandals helped bring down the previous Liberal administration. The Conservatives are in "full-out political panic", said Charlie Angus, a member of parliament and the ethics critic for the official opposition New Democratic Party. Angus said Wright's resignation would not halt the NDP's call for an official probe into the matter. Angry voters In a sign of the potential damage the scandal could do to the government, Conservative MP Brent Rathgeber told Global Television that his voters were angry. "Any suggestion that taxpayers are treated disrespectfully is met with significant concern, I would say even angst," said Rathgeber, who represents a constituency in the western province of Alberta, a ruling party stronghold. Pamela Wallin, another Conservative senator whose expenses have been questioned, quit the caucus late on Friday. Wallin is also a former television journalist. Opinion polls show the Conservatives trailing the Liberals, who have steadily grown more popular since Justin Trudeau - the telegenic son of former Liberal prime minister Pierre Trudeau - was elected leader last month. Harper said he had accepted Wright's resignation with great regret. The next election is not due until October 2015 and the Conservatives have a comfortable majority in the House of Commons.

Post-Chavez Venezuela makes overture to US

Venezuela's President Nicolas Maduro has said government would like to increase dialogue with the US [Reuters]

Venezuela's foreign minister has signalled that his country is ready to improve its diplomatic ties with the United States. "We are going to remain open to normalising relations with the United States," Foreign Minister Elias Jaua said on Televen television on Sunday. "The first thing would be to resume diplomatic representation at the highest level," he said. The country's late socialist president Hugo Chavez was a staunch critic of the US, and his successor Nicolas Maduro is still feeling out its footing with Washington. For more than 14 years, Chavez consistently directed verbal broadsides on US leaders, before his death in March. The United States and Venezuela have not even had ambassadors in each other's countries since 2010. Maduro, who earlier said his government would like to increase dialogue with the United States, has selected lawmaker Calixto Ortega as its potential US envoy. US President Barack Obama however has not congratulated Maduro for his controversial, razor-thin April 14 election, as Maduro's opposition rival Henrique Capriles presses claims that the Venezuelan presidential election was marred by irregularities. Maduro meanwhile slammed Obama "the top leader of devils" after he commented on post-election unrest in Venezuela. Despite the bad blood, Venezuela sells about 900,000 barrels of oil every day to the United States.

Nigerian army blockades Boko Haram base

Nigerian soldiers have blocked roads out of a key northeastern city to deprive Boko Haram fighters of supplies in remote towns they control, the army has said. The military said on Sunday that its offensive against the group, which followed a declaration of a state of emergency in three northeastern states, was aimed at re-establishing Nigeria's "territorial integrity". The assault on Boko Haram, which has said it wants to create an Islamic state, included air strikes on strongholds in remote parts of northeastern Borno state, and has spread to the state capital Maiduguri, the fighters' traditional home base. Residents said on Sunday the base had been blockaded. "There is a huge build-up of trucks loaded with essential commodities... along the Baga road on the way out of Maiduguri to the northern part of the state," said Ibrahim Yahaya. "The drivers said they have been prevented by the military from going northward," he told the AFP news agency by email. 'Run out of supplies' The phone network in Borno has all but collapsed since president Goodluck Jonathan on Tuesday declared a state of emergency there and in two neighbouring states, Adamawa and Yobe. Chris Olukolade, a defence spokesman, said in a statement on Saturday that fighters on the run were scrambling for key supplies like fuel. He urged residents to report anyone trying to buy large quantities of fuel. The supply shortage has begun to bite in the town of Gomboru Ngala, on the border with Cameroon, where some Borno residents have fled to escape the air raids. "Trucks bringing in goods from Maiduguri have ceased since last week," said resident Grema Babagoni. He said the supply shortage has pushed prices up by as much as 25 percent. "If the blockade continues for some time we may completely run out of supplies," he told AFP. On Saturday the army declared a 24-hour curfew in a dozen neighbourhoods of Maiduguri, Boko Haram's stronghold. The curfew in the main city in Borno state came as soldiers continued the government's emergency campaign against fighters in the region on Saturday. A defence spokesman also said the military had seized stockpiles of weapons including rocket-propelled grenades, guns and ammunition from areas around Maiduguri. Boko Haram has carried out scores of attacks in recent years, and has become emboldened and better armed in recent months.