Japan's in crisis: Why is the yen strong? By Pamela Boykoff, CNN

(CNN) -- A spiraling crisis caused by the earthquake, tsunami and nuclear drama has turned into a financial crisis for the world's third largest economy.

In a few short hours, the yen smashed through the 80 yen-to-the-dollar barrier, peaking at 76.25 yen. That was the highest level the currency has hit since World War II.

The health of Japan's economy is based heavily on exports. A stronger yen can wipe billions of dollars off corporate balance sheets.

For example, Toyota loses 30 billion yen, roughly $380 million a year, for each uptick of the yen against the dollar.

Analysts say timing played a big role in the sudden surge. Trade is typically thin around the end of the U.S. trading day and before Asian markets open. The yen, considered a safe bet in times of crises, had been gradually strengthening over several trading sessions. With risk-adverse investors pushing the currency higher, it broke through 80 yen per dollar.

That triggered a flood of automatic buy orders, as traders "who bet on the higher-dollar yen were forced to cut their positions," says J.P. Morgan's Tohru Sasaki. At the same time, the thin trading volumes exaggerated the overall impact.

Also, there is a sense that soon major Japanese corporations will need to bring back boatloads of yen from foreign markets to pay for damages done by the earthquake and tsunami -- a move that would further strengthen the yen.

In September, Japan ruffled feathers when Tokyo intervened in currency markets, selling more than 2 trillion yen to weaken the currency. Nomura security currency analyst Yunosuke Ikeda believes such action may happen again.

"The possibility of intervention is fairly high, if the automatic rebound does not break 80," he says.

Sasaki believes that Japan's government will be put off by the cost of such an intervention. Already highly in debt, the Japanese government has to finance the recovery effort; it won't want to pay weaken the yen as well.

Pakistan army chief Kayani in US drone outburst

Pakistan's army chief has condemned the latest raid by US unmanned drones as "intolerable and unjustified".

In a strongly worded statement, Gen Ashfaq Parvez Kayani said the attack, which killed about 40 people, was "in complete violation of human rights".

Most of the victims were believed to be civilians attending a tribal meeting near North Waziristan's regional capital, Miranshah.

Tension has been growing in recent weeks between the US and Pakistan.

The US drone attacks are a long-running source of bad feeling, but the acquittal of CIA contractor Raymond Davis of murder has sparked protests across Pakistan.

The Pakistani military often makes statements regretting the loss of life in such incidents, but rarely criticises the attacks themselves.

Gen Kayani, however, said such "acts of violence" make it harder to fight terrorism.

"It is highly regrettable that a jirga [meeting] of peaceful citizens including elders of the area was carelessly and callously targeted with complete disregard to human life," he said.

"It has been highlighted clearly that such aggression against people of Pakistan is unjustified and intolerable under any circumstances."

Pakistan's intelligence agency is often accused of complicity in the raids, either by supporting them or allowing them to happen.

Militants targeted

The BBC's M Ilyas Khan in Islamabad says Thursday's drone strike is the deadliest such attack since 2006.

Officials say two drones were involved in the latest attack, in the Datta Khel area 40km (25 miles) west of Miranshah.

One missile was fired at a car carrying suspected militants. Local tribesmen say the drones then fired another three missiles at their open-air meeting, or jirga.

Our correspondent says the car was moving close to the jirga, and the missiles hit the vehicle as well as the jirga.

According to the tribesmen, the meeting was being held to discuss a local land dispute over the ownership of chromite deposits in the area. They say that no militants were present at the time.

Officials said the drones were targeting militants linked to Taliban commander Hafiz Gul Bahadur. One of his commanders, identified as Sharabat Khan, was in the vehicle hit in the attack and was killed, one local official told the BBC.

The US military and the CIA do not routinely confirm that they have launched drone operations, and Gen Kayani did not specifically name the US or mention drones.

But analysts say only American forces could deploy such aircraft in the region.

The attacks have escalated in the region since US President Barack Obama took office. More than 100 raids were reported in the area last year.

Europe agrees 2020 space station

Europe has formally agreed to the extension of operations at the International Space Station until 2020.

Member states have also put in place the financing to cover their commitments at the platform for the next two years.

The decisions were taken at a two-day council meeting of the European Space Agency at its headquarters in Paris.

Europe is an 8% partner in the ISS project with the US, Russia, Japan and Canada.

Esa's space station manager, Bernardo Patti, said the announcement from council was a significant development.

"This is the formal acceptance from the member states that the space station will last until 2020 and will be supported financially; and that is really excellent news," he told BBC News.

"Now that ISS is built, the emphasis in the coming years will be to maximise its exploitation."

All five ISS-participating space agencies had indicated last year their desire to see the platform continue flying beyond 2015, but Europe had until now struggled to agree the funding arrangements within its member states.

The 10 Esa nations that subscribe to the station project approved a 550m-euro sum at the Paris gathering to supplement the 1.4bn-euro package passed at the Ministerial Council in The Hague, Netherlands, in 2008.

This extra money will cover commitments until the next Ministerial at the end of 2012, when member states will then initiate a 2bn-euro arrangement to take European participation at the ISS through to 2020.

By the end of the decade, it is expected Europe will have spent about 9bn euros over the full 25 years of the project.

The 2020 date, however, is a minimum extension at the moment. Engineers believe much of the infrastructure in orbit will be serviceable well beyond that time.

Most of the living and working space on the non-Russian side of the station has been fabricated in Europe and its engineers believe their modules should still be fit for purpose in 2028.

The way the ISS project works means the partners provide components and services rather than hand over cash to belong to the "club".

For Europe, this requires that it deliver tonnes of supplies to the station with its huge robotic freighter, the most recent of which (Johannes Kepler) has only recently docked at the platform.

Three further freighters are planned which should see Esa meet its "subscription" up to 2017. A new vehicle based on the freighter would then be developed to meet commitments beyond that date, Mr Patti said.

The design of this vehicle and its precise role would be agreed with the partners, he added.

‘Born This Way’ too edgy for Malaysian radio?

AMP Radio censors the Lady Gaga hit for violating ‘good taste or decency’

Fans of Mother Monster are definitely not going to be pleased as Malaysian radio stations have taken to censoring lyrics from Lady Gaga's gay-pride anthem 'Born This Way'. The offending section of the lyrics reads "No matter gay, straight or bi, lesbian, transgendered life, I'm on the right track, baby," which has been replaced by incoherent gabble in an attempt to censor the offensive section.

AMP Radios, which controls popular radio network Hitz.fm, stated that the song was censored according to Malaysian law, leading prominent gay activist Phang Khee Teik to protest the decision with the statement "Lady Gaga was attempting to address this very thing (gay pride) in her song. How dare they play that song and cut out its shining heart."

Charlie Sheen Sells Out Radio City, Donates To Japan Earthquake Victims

America loves a winner, and Charlie Sheen just keeps #winning.

First, he reached 1 million twitter followers faster than anyone else ever had (a little over a day).

Then, he posted a
social media internship that 84,000 people applied to.

Now, taking his crazy antics on the road in the
Charlie Sheen Live: My Violent Torpedo of Truth/Defeat Tour has sold out in Detroit, Chicago, and New York’s Radio CityMusic Hall (twice) in only a matter of minutes

Though unemployed, the man who is winning the internet and making money doing it, is spreading the wealth. “One dollar from each ticket to My Violent Torpedo of Truth/Defeat is Not An Option Show LIVE will be donated to the Red Cross Japanese earthquake relief fund,” Sheen’s website said.

Sheen will take away an estimated $300,000 for the first two gig according to The Hollywood Reporter. Sheen is scheduled to perform in Cleveland, Columbus, New York, Wallingford, and Boston.

Nordic peoples

Here's an example of an ancient pagan creation story told by Nordic peoples:

In the beginning, there was a void called Ginnungagap, which means something akin to "yawning gap." Alongside the Ginnungagap, there existed two lands: the Niflheim — the northern land of fog and ice — and the Muspelheim — the southern land of fire. In the north, 11 rivers sprang from a spring that flowed toward the gap and froze until it filled a portion of the gap. At the same time, lava and other molten material flowed from the south into the southern portion of the gap. Then, the fire and ice mingled and formed a giant called Ymir and a cow called Audhumla. Ymir drank the cow's milk and drifted off into a deep sleep. As he slept, the sweat of his armpit formed two frost giants, male and female, and from his legs, another male frost giant. Meanwhile, the cow licked salty ice to gain nourishment, and this licking created the god Buri. Buri had a son named Bor, who killed Ymir. As Ymir died, his blood drained from his body and caused a huge flood that drowned all of the frost giants, leaving only the god Bor and his three sons. The three sons of Bor placed Ymir's body into the Ginnungagap and created the Earth from it.