The lawmaker promised to make the fight against illegal immigration the cornerstone of his 2008 bid, the report said. "The crisis of illegal immigration threatened not only our economy and our security but our very identity," he said in a statement.

"That ends today," said Tancredo, who, with the announcement, joined a crowded field that includes better-known hopefuls such as former New York mayor Rudy Giuliani and Arizona Senator John McCain.

Born in Denver, Colorado, in December 1945, Tancredo has served as a House member since 1999. He supports deporting all illegal immigrants and has criticized a plan by the President George W. Bush, McCain and others to give some illegal immigrants a chance for citizenship.

An estimated 12 million illegal immigrants now live in the United States. A recent USA Today/Gallup Poll shows immigration ranks fourth behind the Iraq war, terrorism and corruption as an issue that Republicans want the president and Congress to address.

U.S. audit authorities on Tuesday proposed auditors specify whether a company's financial restatement is due to an error or a change in accounting principles.

The Public Company Accounting Oversight Board (PCAOB) said the change to their auditing standards would help investors clearly distinguish when a company restated their results to comply with a different interpretation of accounting rules, or made an actual mistake.

"The proposal would specifically focus auditors on ensuring that disclosures about those changes are accurate," board member Charles Niemeier said in a statement.

The standard, however, would not distinguish between different types of mistakes such as the misapplication of accounting rules, mathematical errors or fraud.

The audit watchdog also proposed it align its standards on how auditors evaluate the consistency with which a company applies U.S. accounting rules with a standard released by the Financial Accounting Standards Board, which writes U.S. accounting rules.

The board also asked for public comment on a "concept release" that discusses whether an accounting firm that performed tax services for a company executive should be able to act as that company's auditor later in the same year.

The board said it wanted to hear comments on whether those services would compromise the firm's independence or if prohibiting those services would jeopardize a company's ability to switch auditors.

The financial statement proposal and the "concept release" are available for public comment through May 18.

UK financial regulators on Wednesday gave the first official recognition of intensifying City concern about the impact some overseas listings are having on the standards and reputation of London.

The Financial Services Authority said it will canvass opinions in the City about how to clarify the regulations to make clear whether companies have chosen light-touch listing methods, which can offer investors less protection. It said it was calling for formal debate about the balance between attracting new flotations and maintaining quality.

The decision comes a day after John Thain, chief executive head of the newly merged NYSE Euronext exchange group, took a thinly veiled swipe at the London Stock Exchange, criticising corporate governance and inadequate protection for minority investors offered by some Russian companies. There has been a steady flow of Russian and Kazakh companies seeking to raise capital in London.

Former Assemblyman Larry Bowler, a family advocate, said the court should defer to voters.

"At least four justices on that San Francisco bench are against the broad majority of California voters, who want marriage preserved and protected," he said. "The high court could deal a low blow to the voters by creating so-called 'same-sex marriages' in late 2007 or early 2008."
Liberty Counsel filed a brief representing Campaign for California Families. It challenged the assertion that protecting marriage is discriminatory.

"They aren't arguing for a minor change in marriage, but for a deconstruction of the entire institution of marriage," read a news release from the non-profit legal group. "The essence of marriage has always been the union of one man and one woman. We have never allowed any other human relationships to be united under the banner of marriage."

Calger faced up to five years in prison under his guilty plea; the government still has the right to re-prosecute the issue. Calger is the second individual to withdraw a guilty plea in the Enron scandal; former Arthur Andersen accountant David Duncan withdrew a plea in December 2005 after the US Supreme Court overturned Anderson's obstruction of justice conviction.

Stoddart said she would petition Canadian authorities to encourage the US to rely on existing, more transparent measures such as anti-money laundering and anti-terrorism financing mechanisms rather than subpoenas.

In November the European Commission's Article 29 Data Protection Working Party found that SWIFT violated European privacy laws when it released similar information about cross-border wire transfers by European citizens to the US government. The New York Times and other papers revealed the once-secret program in June 2006, prompting sharp criticism from the Bush administration, which defended the initiative. According to US government officials, the program targeted those with suspected ties to Al Qaeda.

http://www.privcom.gc.ca/aboutUs/message_e.asp

The tabular content relating to this article is not available to view. Apologies in advance for the inconvenience caused.

The deal could trigger a wave of agreements across Asia and is seen as vital to keeping US trade policy alive in the face of growing political discontent over the benefits of free trade.

The accord still has to be ratified by the US Congress and the South Korean national assembly, where it is likely to face difficulties because of the unpopularity of both presidents and their weak representation in their respective houses.

The pact was struck just minutes before the final deadline for George W. Bush, the US president, to notify Congress of his intent to ­ratify the agreement before his authority to "fast track" deals with a simple yes or no vote expires.

Mr Bush sent a letter to the Democratic leadership in Congress within moments of the deal being signed saying the agreement would "further enhance the strong US-Korea partnership, which has served as a force for stability and prosperity in Asia".

There was immediate condemnation from Democrats, led by members of Congress from states that depend on farming and car manufacturing – two sectors that lost out in the negotiations.

Michigan Senator Debbie Stabenow said: "I will do everything in my power to defeat this agreement."

Bill Rhodes, vice-chairman at Citigroup and head of the US Korea Business Council, said that company worries about a watered down agreement had been largely addressed. But Ford, the carmaker, called on Congress to reject the deal as it did not go far enough in tearing down South Korean barriers to vehicle imports.

Under the agreement, tariffs on all vehicles under 3,000cc will be eliminated immediately and phased out over three years for bigger passenger cars and 10 years for pick-up trucks.

Rice was entirely excluded from the deal, in line with Seoul's wishes, while Washington received an undertaking that South Korea would allow the resumption of beef imports, suspended after health scares.

Seoul also agreed to eliminate import tariffs on US beef gradually over the next 15 years, while the US declared it would immediately abolish 61 per cent of tariffs on textiles and garments in terms of its import value.

Significantly, Washington accommodated Seoul's requests to consider development of Kaesong, the South Korean-run industrial zone in North Korea.

About 94 per cent of tariffs on commodities will be scrapped within three years, gradually increasing to 100 per cent.