Tuesday, 19 July 2016

IMF Slashes UK Growth Outlook After EU Vote

IMF Slashes UK Growth Outlook After EU Vote

The Leave vote will hold back the UK economy and in a worst-case scenario may result in a recession, according to the forecast.



The IMF headquarters in Washington DC

The International Monetary Fund (IMF) has slashed its growth forecast for the UK for next year by 0.9% after the vote to leave the EU threw a "spanner in the works" of the global economy.
It warned that the outlook could darken even further, plunging the UK into recession, if the exit process turns out to be more painful than expected.
The central forecast sees UK gross domestic product (GDP) growing by 1.3% next year, down from a previous prediction of 2.2%, while this year's GDP figure is pencilled in at 1.7%, down 0.2% compared to the outlook in April.
Global growth, already sluggish, will also be lower as a result of the surprise outcome of the referendum - marked down by 0.1% this year and next according to the IMF.
The World Economic Outlook Update said: "The Brexit vote implies a substantial increase in economic, political, and institutional uncertainty, which is projected to have negative macroeconomic consequences, especially in advanced European economies."
IMF chief economist Maury Obstfeld said: "Brexit has thrown a spanner in the works."
:: Analysis: IMF Paints Unflattering Picture Of UK Economy
The forecast is the first from a heavyweight global body to assess the global impact of the Brexit vote - which has already prompted market turmoil including a plunge in the pound to 1985 levels against the US dollar and a slump in banking shares.
It echoes the IMF's pre-referendum warning about what a Leave vote might mean.
Bank of England

Video: Carney: Brexit Means Volatility
The new report said its forecast was based on the "benign assumption" of a gradual reduction in uncertainty, with the EU and UK avoiding a large increase in economic barriers, no major financial market disruption and limited political fall-out.
But it noted that "more negative incomes are a distinct possibility".
These included a worst-case severe scenario under which trade talks between the EU and UK fail, leaving a chunk of Britain's financial services industry to relocate to the euro area.
"This would reduce consumption and investment more markedly… and lead to a recession in the United Kingdom."
The report called on British and European officials to ensure a "smooth and predictable transition to a new set of post-Brexit trading and financial relationships that as much as possible preserve gains from trade between the UK and the EU".
It comes as the Bank of England is expected to cut interest rates next month to try to cushion the economy from an expected Brexit blow.

Three Die In Disturbance At Block Of Flats


Police say they are not looking for anyone else in connection with the deaths at Donside Court.


Police are not looking for any other person in relation to the deaths. Pic: Northsound News
Police are not looking for any other person in relation to the deaths. Pic: Northsound News
Three people have died following a disturbance at a 19-storey high block of flats in Aberdeen.
Officers have confirmed they are investigating claims someone fell from Donside Court, in the Tillydrone area of the city, at around 8.15pm on Tuesday night.

Detective Superintendent Dave McLaren, from Police Scotland's Major Investigation Team, said: "As a result of this incident three persons are now known to have died.
"At this time the investigation is in its very early stages, however the circumstances as they present at this time would indicate that this is a contained incident and we are not looking for any other person in relation to the deaths.
"Further information will be released in due course."

Donald Trump Secures Republican Nomination

Donald Trump Secures Republican Nomination




Donald Trump Jr, Ivanka Trump and Eric Trump in the roll call in support of Republican presidential candidate Donald Trump
Video: Donald Trump Wins Republican Vote

Donald Trump has officially been nominated by the Republican Party as its candidate to contest the presidential election.
Mr Trump gained 1,725 delegates, with Texas senator Ted Cruz on 475, Ohio governor John Kasich on 129 and Florida senator Marco Rubio on 113.
In a video message, Mr Trump said that winning the nomination was something he would "never forget".
He added: "This is a movement but we have to go all the way."
Mr Trump said he would "win the presidency and bring real change and leadership back to Washington".
The nomination process was opened by Alabama senator Jeff Sessions who declared billionaire Trump to be "a warrior and a winner".

New York Representative Chris Collins seconded the nomination, saying that Mr Trump would defeat terrorism and make the US safe again.
Mr Trump's former campaign manager Corey Lewandowski announced that his home state of New Hampshire was also casting its votes for "my friend and the next president of the United States, Donald J Trump".
Donald Trump wins the Republican nomination
Donald Trump wins the Republican nomination
Mr Lewandowski was fired by the Trump campaign last month but has continued to voice his support for his old boss in his new job as a commentator on CNN.
The final announcement was made by Mr Trump's son Donald Jr, who told delegates that New York was casting 89 votes for Mr Trump and six for Ohio governor John Kasich.
He added: "It's my honor to be able to throw Donald Trump over the top in the delegation count tonight.
"Congratulations, dad, we love you."
His words were greeted with thunderous applause from convention delegates at the Quicken Loans Arena in Cleveland, Ohio.

Mr Trump, 70, had earlier tweeted about his excitement as the roll call began.
He is expected to formally accept the nomination in a speech on Thursday.
He will then face Democrat Hillary Clinton in November's presidential election.
Republicans also placed Indiana governor Mike Pence's name on the nomination for vice president.
On the first day of the convention, Republicans against Donald Trump were thwarted in a last-ditch bid to vote against the tycoon.
Melania: He's Tough, But He's Also Kind
Video: Did Melania Trump Copy Michelle?
There was uproar as delegates demanded a full state-by-state roll call vote of all 2,472 delegates.
The Trump campaign had fought back by circulating a form allowing people to remove their names from the petitions.
There was also controversy after parts of a speech by Mr Trump's wife Melania were revealed to match almost word-for-word one given by current First Lady Michelle Obama in 2008.
Trump adviser Paul Manafort said the matter had been "totally blown out of proportion".

May Set For 'Frank' Brexit Talks With Merkel

May Set For 'Frank' Brexit Talks With Merkel

Admirers of the new Prime Minister have long claimed she is Britain’s Angela Merkel, so their meeting will be studied carefully.


 Prime Minister Theresa May, waves from the door of No. 10

Theresa May faces two daunting challenges on the day she completes her first week in office as Prime Minister.
At noon, she faces Prime Minister's Questions, in the final session before the Commons rises for the summer recess.
And if Jeremy Corbyn is defeated by challenger Owen Smith, it will be one of only three PMQs in which she will face him, with just two more in September before the result of Labour's leadership election.
Immediately after PMQs the Prime Minister will head for Berlin for a working dinner with the German chancellor Angela Merkel, widely regarded as Europe's most powerful woman.
New cabinet
Video: May's First Cabinet Meeting
Mrs May's admirers have long claimed she is Britain's Angela Merkel, so their meeting will be studied carefully for the body language between them and any references to the comparison.
According to No 10, in what will be her first overseas visit as Prime Minister, she will aim to build relationships with partners across Europe as the UK prepares to negotiate its exit from the EU.
After Berlin, the Prime Minister will travel to Paris for talks on Thursday evening with President Hollande who, like Chancellor Merkel, is facing re-election next year.
Video: Profile: Theresa May
During both visits, she is expected to hold one-to-one talks and try to establish personal relations that will pave the way for open and frank discussions in the months ahead as the UK negotiates to leave the European Union.
The Prime Minister is expected to repeat a point she made in early phone calls with these leaders: that it will take some time to prepare for those negotiations as the UK government consults with the devolved administrations and different industry sectors to determine what our objectives should be for that negotiation.
Speaking ahead of travelling to Berlin, the Prime Minister said: "I am determined that Britain will make a success of leaving the European Union and that's why I have decided to visit Berlin and Paris so soon after taking office.
"These visits will be an opportunity to forge a strong working relationship that we can build upon and which I hope to develop with more leaders across the European Union in the weeks and months ahead.
Video: Brexit: UK's Loss Will Be Poland's Gain
"I do not under-estimate the challenge of negotiating our exit from the European Union and I firmly believe that being able to talk frankly and openly about the issues we face will be an important part of a successful negotiation.
"I also want to deliver a very clear message about the importance we attach to our bilateral relationship with our European partners, not just now but also when we have left the European Union.
"These relationships have been vital in the past and they will be vital in the future as we continue to work together to keep our people safe and to support economic growth that benefits people across our countries."
Government lawyers told a court in London on Tuesday that Mrs May had made it clear she did not intend to deploy Article, triggering the process of leaving the EU before the end of 2016.

Downing Street, however, stressed that this was a decision for the Government to make.

Turkey: Thousands More Sacked After Failed Coup


The action comes as the government steps up its efforts to get the cleric it blames for the attempted coup extradited from the US.


Special Forces officers in front of the Air Force Academy in Istanbul
Special Forces officers at the Air Force Academy in Istanbul
Turkey has extended its purge of the army, police and judiciary to the intelligence agency, universities and schools and religious authorities.
The move comes after last Friday's failed coup, which the country's government blames on US-based cleric Fethullah Gulen.
On Tuesday, authorities shut down media outlets deemed to be supportive of him and said 15,000 people had been fired from the education ministry.
A further 492 were sacked from the Religious Affairs Directorate and 257 from the prime minister's office.

Fethullah Gulen denies being involved in coup attempt
One 100 intelligence officials were also axed, taking the number removed from their jobs since last week to around 50,000.
"This parallel terrorist organisation will no longer be an effective pawn for any country," Prime Minister Binali Yildirim told Parliament.
He was referring to what the government has long claimed is a state within a state controlled by followers of Gulen.
A spokesman for President Tayyip Erdogan said the government was preparing a formal request to the United States for his extradition.

Turkish air force chief Akin Ozturk with other suspected plotters
Seventy-five-year-old Gulen, who lives in self-imposed exile in Pennsylvania, has condemned the attempted coup and denied any role in it.
A former ally-turned critic of Mr Erdogan, he suggested the president staged it as an excuse for a crackdown on his opponents.
Turkey's Western allies have expressed solidarity with the government but also alarm at the scale and swiftness of its response.
Prime Minister Yildirim accused Washington, which has said it will consider Gulen's extradition only if clear evidence is provided, of double standards in its fight against terrorism.
         
Video: Turkish Government Arrests Thousands In Crackdown After Coup
Mr Yildirim said the justice ministry had sent a dossier to US authorities on Gulen, who has a network of supporters within Turkey.
"We have more than enough evidence, more than you could ask for, on Gulen," Justice Minister Bekir Bozdag told reporters.
"There is no need to prove the coup attempt, all evidence shows (it) was organised on his will and orders."
White House spokesman Josh Earnest confirmed Ankara had filed materials in electronic form, which officials were reviewing.

Video: Inside Bombed Turkish Parliament
Any extradition request from Turkey, once submitted, would be evaluated under the terms of a treaty between the two countries, he added.
Over 290 people were killed and around 1,400 wounded as soldiers commandeered tanks, attack helicopters and warplanes, and tried to seize the main airport and bridges in Istanbul.

Mr Erdogan and other officials have suggested bringing back the death penalty as a punishment, but EU officials have warned it would end Turkey's hopes of joining the union.

Wednesday, 13 July 2016

Allardyce Interviewed For England Job

The Sunderland manager flies back from a pre-season training camp in Austria to talk to FA bosses.



West Ham manager Sam Allardyce
Sunderland have said they want to keep Allardyce

Sunderland have called for a "swift" resolution after their manager Sam Allardyce was interviewed by the Football Association for the England job.
Allardyce flew back to the UK from Sunderland's pre-season training camp in Austria and met the FA's vice-chairman David Gill, technical director Dan Ashworth and chief executive Martin Glenn.
They met at Mr Gill's home in Cheshire on Tuesday night.
Sunderland have said they want to keep Allardyce but at his request they gave him permission to speak to the FA about the job.
West Ham manager Sam Allardyce is congratulated by vice-chairman Karren Brady and chairman David Gold after victory in the Championship play-off final
Allardyce celebrates after winning the Championship play-off final with West Ham
With the new season fast approaching, the Premier League team called on the FA to "bring about a swift resolution to the matter".
"Sam is very much key to our plans," the club said in a statement on its website.
"After what was an extremely challenging season, we are keen to see a period of stability, both on and off the field, and we want him to remain as manager of our football club."
The statement added: "The ongoing speculation over Sam's position is extremely damaging to Sunderland AFC, particularly at this crucial time of the season.
"We urge the FA to respect the disruption that this process is causing and bring about a swift resolution to the matter."
The FA are looking for a new manager after Roy Hodgson resigned following England's poor showing at the Euros.
They finished runners up in their group and were knocked out in the last 16 stage by Iceland, who beat them 2-1.
Roy Hodgson reacts to England defeat
Roy Hodgson resigned after England went out of the Euros
England fans also came in for heavy criticism after violent clashes with police and rival supporters in Marseille.
The FA would like the new manager to be in place for September's World Cup qualifier with Slovakia but do not want to rush into making an appointment and are reportedly prepared to wait longer if needs be.
Allardyce, 61, managed to keep Sunderland in the top flight last season but his approach and tactics have attracted criticism in some quarters in the past.
He has, however, achieved notable results with Bolton, West Ham and Sunderland.
Other managers linked to the England vacancy include Arsene Wenger of Arsenal, Hull's Steve Bruce and Bournemouth boss Eddie Howe.

German Mum Admits Murdering Her Children

The 45-year-old says she wrapped the babies in a hand towel straight after birth and suffocated them if they moved or cried.



A German police car. File picture
Police found the babies' remains in the parents' apartment after a tip-off from a neighbour. Pic: File

A German woman on trial in one of Germany's worst infanticide cases has confessed to killing several of her babies, but said she could not remember how many.
Andrea Goeppner, 45, is charged with four out of a possible eight babies' murders after their remains were found wrapped in towels and plastic bags last year in a case that has horrified the country.

Asked how many of the babies Goeppner confessed to killing, defence lawyer Till Wagler said: "It could have been two, three or four."

Prosecutors have been unable to pursue murder charges for the other four infants, because one was stillborn and the others were so badly decomposed that it was uncertain they would have been alive at birth.

The remains of the babies were found last year in Goeppner's apartment in the small Bavarian town of Wallenfels.

Her estranged husband, Johann Goeppner, 55, is charged with complicity for failing to stop the killings, which took place between 2003 and 2013.

In her confession, read out by her lawyer, the mother said she had given birth to each of the eight babies at home alone and had wrapped every infant in a hand towel.

She would immediately suffocate any baby that moved or cried, and then put the body in a plastic bag or containers and hid it in the apartment, said the defence lawyer.

The couple, who had two children each from previous marriages and three surviving children, did not want more children but did not use contraception.

State prosecutors accused Goeppner of showing "sexual egoism, indifference and callousness".

"She sought simply to remain sexually active without any thought about the consequences or the value of a newborn child," they said.

Mr Goeppner described his estranged wife as a chronic liar and compulsive shopper who stole from her mother and her children.

A verdict is expected next Wednesday.

Sterling Surges As May Heads For Number 10

The UK currency is up as markets see greater clarity over the political future after the emergence of the new Tory leader.



Pound coin
Sterling's value rose though it is far below levels seen before the EU referendum result

The pound has surged by more than three cents against the US dollar in the past 24-hours, boosted by increasing political certainty as Theresa May prepares to take over as prime minister.
Sterling was above $1.33 early on Wednesday as traders continued to take stock of developments in Westminster - though it remains far below the levels seen before last month's EU referendum result.
The currency had spiked at $1.50 on 24 June when markets were expecting a Remain win, before plummeting by an unprecedented 18 cents to $1.32, a level not seen since 1985, as it became clear that Leave would win.
Last week, with the prospect of a lengthy Tory leadership battle to come before a new PM was decided, the pound slipped below $1.28.
But with Mrs May just hours away from taking her place as the new incumbent of 10 Downing Street, it was on the rise.
Theresa May
Theresa May is preparing to succeed David Cameron as prime minister
Tony Cross, market analyst at Trustnet Direct, said: "The City is no fan of uncertainty so the fact that we now have a new prime minister should at least start to pave the way for the next chapter when it comes to Brexit."
Hussein Sayed, chief market strategist at FXTN, said the relief rally for sterling was likely to be short-lived as many questions about the political future remained unanswered.
Meanwhile, the FTSE 100 has been trading at 11-month highs as the fall in the value of the pound since the referendum has boosted the sterling value of overseas incomes of many of its largely-global firms.
It was little changed in Tuesday's session as sterling recovered, while markets in Europe saw strong improvements as investors hoped for central bank stimulus to stave off slowdown fears.
The Bank of England's rate-setting committee meets later this week amid expectations of an interest rate cut.
Trading in shares was more subdued on Wednesday. While the FTSE 100 remained largely flat, European markets were reflecting renewed concerns for the eurozone's banking sector - particularly lenders in Italy.

Poundland Agrees Takeover Deal Worth £597m

The owner of Bensons for Beds agrees terms to buy the single price discount retailer in a deal valuing the chain at almost £600m.



Poundland store
A Poundland store

A South African retailer has agreed terms to enter the UK's single price discount market in a £597m takeover of Poundland.
Steinhoff International said the chain, which has more than 900 stores across the UK and Ireland, would be a "complementary fit" for its growth ambitions across Europe.
Its all-cash offer of 220p per share - plus a 2p dividend - represents a premium of more than 13% on the closing price for shares on Tuesday but Poundland shares remain at over half the value they were early last year.
The Poundland board is recommending investors accept the deal. It had dismissed a previous offer on value grounds.
Its shares rose 12% after the takeover announcement.

Steinhoff, which already owns furniture firm Harvey's and the Bensons for Beds chain, had made an offer earlier this year for the company behind Argos but lost out to Sainsbury's.
It was also outbid for London-listed white goods retailer Darty.
Poundland - which benefited from a boost to business amid the financial crisis and resulting recession - has been struggling in more recent times followings its troubled £55m purchase of rival 99p Stores.
It has spent big on converting those shops to its own brand and same-store sales fell 4% in the year to March.
Total sales were boosted by the integration of its one-time rival.
Steinhoff is backed by South African billionaire Christo Wiese whose Brait investment group also owns controlling stakes in Virgin Active, New Look and food chain Iceland.
It gave no indication of major changes ahead - saying it "recognised the value" of the existing management team at Poundland.
Darren Shapland, chairman of Poundland, said: "The Poundland board believes (the) all-cash offer presents Poundland shareholders with an opportunity to realise their shareholding at a certain and attractive price, securing earlier delivery of the Poundland Group's medium term value than could be expected from the ongoing turnaround process against a background of increasing economic uncertainty in the UK and a more challenging trading environment".
He added: "They share our vision for the growth and expansion of Poundland and, as such, we believe they are a suitable and appropriate partner for our colleagues, our suppliers and stakeholders".

Sanders Throws Weight Behind Rival Clinton

Sanders Throws Weight Behind Rival Clinton

The senator says Mrs Clinton, who is set to face off against Donald Trump, is by "far and away the best candidate" for president.


Bernie Sanders endorses Hillary Clinton
Video: Sanders Endorses Clinton


Presumptive Democratic nominee for US president Hillary Clinton has been given a major boost after Bernie Sanders threw his support behind her.
Speaking in front of supporters from both camps in New Hampshire Mr Sanders, who for months ran against Mrs Clinton in a hotly-contested and bitter campaign for the party's nomination, congratulated her for winning.
With a glassy-eyed Mrs Clinton at his side, he said: "She will be the Democratic nominee for president and I intend to do everything I can to make certain she will be the next president of the United States."
The 74-year-old Vermont senator, who describes himself as a democratic socialist, pledged his "political revolution" which has energised millions of Americans would continue.
But he admitted that his opponent is "far and away the best candidate" for the top job and to succeed Barack Obama in the 8 November election expected to be against property tycoon Donald Trump.
Hillary Clinton and Bernie Sanders
Hillary Clinton has received the backing of Bernie Sanders
Listing his reasons for supporting her, he told the rally: "Hillary Clinton understands that we must fix an economy in America that is rigged and that sends almost all new wealth and income to the top one percent."
He went on: "Hillary Clinton understands that if someone in America works 40 hours a week, that person should not be living in poverty."
With a huge smile, the former US secretary of state embraced Mr Sanders and they raised their arms in a traditional show of unity in front of thousands of people.
Mrs Clinton, 68, hopes the joint appearance will help her win over Mr Sanders' supporters, some of whom carried his signs into the rally and frequently drowned out her backers.
Recent polls have suggested only about 40% of Sanders supporters said they would get behind Clinton, and the crowd at Tuesday's rally made it clear she still had work to do.
Donald Trump
Mr Sanders has come under fire from presumptive Republican nominee Donald Trump
Many of Mr Sanders' policies have made it into the proposed Democrat manifesto, including a $15-an-hour minimum wage, tougher restrictions on Wall Street and an end to the death penalty.
Mr Sanders threw his support behind Mrs Clinton less than two weeks before the Democratic National Convention in Philadelphia, Pennsylvania, where she will be formally nominated.
Mr Sanders has already come under fire from presumptive Republican nominee Mr Trump, who tweeted: "Bernie Sanders, who has lost most of his leverage, has sold out to Crooked Hillary Clinton".
Mr Trump, 70, who is expected to be formally crowned Republican candidate next week, has been attempting to win over Sanders supporters.

FBI Gives Up On Solving 1970s Plane Hijacking

"DB Cooper", who notoriously jumped out of a Boeing 727 with $200,000, was never identified despite decades of investigation.



The hijacker, who became known as "DB Cooper", was never identified
The hijacker, who became known as DB Cooper, was never identified
It was a mysterious crime which baffled the FBI: a skyjacking which saw a businessman jump out of a plane with ransom money, never to be seen again.
But nearly 45 years on from the daring heist, investigators are closing the unsolved case for good after failing to identify the criminal who became known as "DB Cooper".
On the night before Thanksgiving in 1971, the hijacker in a business suit told an air hostess on a flight from Portland to Seattle that he was carrying a bomb - and demanded $200,000 in cash and four parachutes.
The plane touched down in Seattle to collect the ransom money, and although all 36 passengers were released, the man ordered the plane's crew to fly towards Mexico.
Under his instruction, the Boeing 727 flew slowly at a height of just 10,000ft - and over Washington state, the hijacker lowered the plane's rear stairs and jumped into the freezing rain.
Nine years later, a boy digging on a beach discovered three bundles of damaged $20 bills worth $6,000 which matched the serial numbers of the cash given to Cooper.
But despite an investigation which became one of the longest and the most exhaustive in the FBI's history, the trail went cold - and the bureau says it's time to focus on other cases.
"Although the FBI appreciated the immense number of tips provided by members of the public, none to date have resulted in a definitive identification of the attacker," officials said in a statement.
Evidence from the case is going to be preserved at the FBI's headquarters, but detectives will only examine further tips if Cooper's parachutes or ransom money are discovered.
There have been countless conspiracy theories about the identity of the hijacker and whether he survived the plunge.
Reports of unexplained wealth have been examined by detectives, with one woman telling the FBI that her late uncle had turned up to Thanksgiving dinner in Oregon - where the ill-fated plane had taken off the day before - with serious injuries.
The TV series Prison Break featured a character who initially denied claims that he was DB Cooper but admitted it in a later episode.

First In-Orbit Jupiter Images Beamed To Earth


Scientists hope the mission will shed some light on how the planet was formed around four-and-a-half billion years ago.


The image of Jupiter was taken on Sunday 10 July
The image of Jupiter was taken on Sunday 10 July
The first in-orbit image of Jupiter has been taken by NASA's Juno spacecraft.
It is hoped the mission will give some insight into the origins of the biggest planet in the solar system and how it impacted the rise of life on Earth.
The image, which was taken on Sunday 10 July, shows atmospheric features on Jupiter, including the Great Red Spot, and three of the massive planet's four largest moons - Io, Europa and Ganymede.
The first high-resolution images of the planet are still a few weeks away.
Launched from Florida nearly five years ago, Juno needed to be precisely positioned, ignite its main engine at exactly the right time and keep it firing for 35 minutes to become only the second spacecraft to orbit Jupiter.
The probe also will hunt for water in Jupiter's thick atmosphere, a key yardstick for figuring out how far away from the sun the gas giant formed.

Obama: Police Show Restraint When Bullets Fly

Obama: Police Show Restraint When Bullets Fly

The US President says the police deserve respect, not scorn, at a memorial service for five officers killed in Dallas last week.



Barack Obama speaks at Dallas Memorial Service for shot police officers
Video: Obama Addresses Dallas Service
Barack Obama has praised Dallas police for their "incredibly hard work" at a memorial service for five white officers gunned down by a black army veteran.
In a move aimed at reducing simmering racial tensions following the killing of two black civilians at the hands of white police officers in separate incidents last week, the US President said police deserved respect, not scorn.
Mr Obama has faced criticism from some quarters of the police who blame him in part for the apparent escalation in racial violence, and say he has not been supportive enough of law enforcement.
Four days ago America's largest police union called on the Justice Department to treat the killing of the five Dallas officers as a hate crime, which typically carries a stronger sentence.
Tributes to the five police officers killed in Dallas during a protest
Tributes to the five police officers killed in Dallas during a protest
Micah Johnson, a 25-year-old army veteran who served a tour in Afghanistan, was killed by a police remote-controlled bomb on Friday after telling a police negotiator that he was upset at white people and wanted to kill them - especially white police officers.
Addressing the service at the Morton H Meyerson Symphony Centre, which was also attended by former president George W Bush, Mr Obama praised the police for their professionalism, bravery and "incredible restraint when bullets start flying".
He added: "We know that the overwhelming majority of police officers do an incredibly hard and dangerous job fairly and professionally. They are deserving of our respect and not our scorn.
"And when anyone, no matter how good their intentions may be, paints all police as biased or bigoted, we undermine those officers we depend on for our safety."
George W Bush speaks at Dallas Memorial for dead police officers
Video: Bush Pays Tribute To Shot Officers
Addressing Dallas officers directly, he said: "We mourn fewer people today because of your brave actions."
Despite the killings last week, Mr Obama moved to reassure the American people that the country is not as divided as it seems. Mr Obama travelled with Republican Senator Ted Cruz and House Democratic Leader Nancy Pelosi.
White House spokesman Josh Earnest told reporters: "At a time when our country is feeling so divided I think it is important that the country's leadership come together across party lines, despite significant differences to emphasise our shared desire to unify the country."

Deadly Head-On Train Collision In Italy

Deadly Head-On Train Collision In Italy


The accident happened on a single stretch of track in the middle of an olive-growing area of Puglia in the south of the country.


Train crash in Italy
Video: First Footage Of Train Wreckage
At least 20 people have been killed after two trains collided head-on in southern Italy.
Dozens of other passengers were injured, some seriously, in the crash near the town of Andria.
One official appealed for blood donations and said: "There could still be someone in the wreckage."
Train crash in Italy
The passenger trains collided on a single stretch of track
The four-carriage passenger trains, thought to be mainly carrying commuters, collided in the middle of an olive grove in the Puglia region of Italy.
The accident happened on a single stretch of track between the towns of Corato and Andria.
The trains collided head on
Video: Rescue Workers Search For Survivors
Rescue workers pulled victims from the wreckage, including a small child who was alive.
The daughter of one of the passengers went to the scene of the crash to try and find her father.
"We hope he is alive," she said. "Because at the moment we have no news. This kind of thing shouldn't happen.
"My dad was on this train, he was supposed to be on this train, and at the hospital they don't know anything so we'll have to see what will happen. But at the hospital they have no news.
"I just want to stay calm and remain positive. I have no news."
Rescue workers trying to get inside the badly damaged carriages
Rescue workers trying to get inside the badly damaged carriages
Local police chief Riccardo Zingaro said: "Some of the cars are completely crumpled and the rescuers are extracting people from the metal, many of them injured."
The Mayor of Corato, Massimo Mazzilli, said the scene was horrific and the rescue work was ongoing with firefighters, civil protection officials and volunteers.
He said workers had just pulled out a passenger alive and were poised to rescue a second one.
On his Facebook page, he wrote: "It's as disaster, as if an airplane fell. Rescue workers and civil protection is on the scene, but unfortunately there are victims!"
One of the badly damaged carriages badly damaged in the collision
The crash occurred between the towns of Corato and Andria
An aerial image showed train carriages derailed and badly damaged by the collision, with debris spread out on either side of the track.
Italian Prime Minister Matteo Renzi said the train crash "is a moment of tears".
Rescue workers have been pulling passengers from the wreckage
Several people have been pulled out alive
He has cut short a visit to Milan in the north of the country following the accident.
"We won't stop until we get a clear explanation over what happened," he told reporters.