Czech PM Necas: Soften austerity drive to help economy – paper
















PRAGUE (Reuters) – The Czech government must change tack to help the economy out of a recession and “stop scaring” the public with further budget tightening, Prime Minister Petr Necas was quoted as saying on Saturday.


Pressure has been building on his centre-right cabinet to ease its austerity zeal after the economy slid into a recession and Necas’s Civic Democrats suffered a drubbing in regional and Senate election last month as voters punished them for spending cuts and sleaze scandals.













“We have to stop all the scaring of people and show them a light at the end of the tunnel,” daily Mlada Fronta Dnes quoted Necas as saying.


He said the government should back off from pursuing tough deficit targets while the economy remains weak.


This is the first time Necas has said the cabinet must alter its policy focused primarily on trimming debt, although he stopped short of admitting what many economists have said, that the government’s stubborn fiscal cuts significantly contributed to the three-quarters old economic recession.


Government spokesman Jakub Stadler said the remarks were Necas’s personal opinion which he will discuss with the rest of the government and it was not yet decided what the new deficit targets will be.


The Czech central bank cut its main policy rate to near zero to spur spending and central banker Pavel Rezabek took a rare swipe at the government in a Reuters interview last month, saying it should stop undermining the bank’s efforts to drag the economy out of recession.


Necas said poor demand was a “psychological matter”, meaning people and businesses constantly hearing of plans for budget cuts and economic crisis in the euro zone prefer to stash money in their bank accounts in anticipation of bad times ahead rather than spend and invest.


“Ministers should not longer scare people but they should give them hope… because the government’s consolidation effort has brought results,” the paper quoted him as saying.


He said what the economy needed now was a slowdown in the government’s fiscal consolidation efforts.


The government will now ease off on its plans to cut the public sector deficit, after it has managed to slash it significantly to 3.3 percent of gross domestic product (GDP) last year from 5.8 percent in 2009, he said.


While it had been planning to trim the gap further to 2.9 percent of GDP in 2013 from an expected 3.2 percent this year, and to 2.5 percent in 2014 and 1.6 percent in 2015, Necas told the paper the government should now make do with keeping the deficit below 3 percent in those years.


“When economic growth is at around 2 percent, it will again possible to return to lowering budget deficits,” the paper quoted him as saying.


Necas’s fragile coalition government warded off collapse last week, surviving a vote of confidence after quelling a rebellion among Necas’s Civic Democrats against another series of tax hikes that it pushed through the lower house.


Two years of concerted effort by the administration to reduce debt has helped Czechs cut bond yields, or costs the country pays for borrowing money, to record lows.


The yield on the ten-year paper was 1.908/810 on Friday below levels of many euro zone member states, including for example Belgium’s 2.342/268 on a corresponding bond.


But it has made Necas’s cabinet extremely unpopular and his Civic Democrats suffered a bitter defeat in both regional and Senate elections last month.


The austerity drive also took its toll on economic growth as a plunge in government and household consumption caused the economy to contract every quarter since the final three months of 2011, while others in the region, such as neighboring Poland and Austria, grew.


(Reporting by Jana Mlcochova; Editing by Toby Chopra)


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Philip Roth Is Retiring; Amazon Glitch Disables Buy Buttons
















Today in books and publishing: Philip Roth confirms his retirement; Amazon‘s mysteriously vanishing buy buttons; Kobo expands to Italy, Kindle considers China; cities in literature.


RELATED: Trikes, a Mustache, and Andy Warhol













Philip Roth wraps it up. One of America’s most celebrated living novelists has been hinting at retirement for a while now. But he didn’t choose to make a big announcement in a prominent stateside literary organ like The New York Review of Books. He chose instead to let it out in interviews with the foreign press over recent weeks. Last month he told Nelly Kaprièlian of French magazine Les Inrockuptibles that he hasn’t written new material in three years, and doesn’t plan to write any new novels. “To tell you the truth, I’m done,” he said frankly, “Nemesis will be my last book … Enough is enough! I no longer feel this fanaticism to write that I have experienced in my life.” He said the same thing in an interview with Italian magazine La Repubblica earlier this month. His publisher Houghton Mifflin confirmed that Roth is entering retirement. It looks the 74-year-old writer will have plenty of time to go over his life story and thoughts on literature with his new biographer, Blake Bailey. [Salon]


RELATED: How to Game Amazon Prime; Random House Consolidates in the Spanish Market


Where did Amazon‘s buy buttons go? Late last night, customers looking to replenish their Kindles with fresh e-books were probably quite frustrated. No matter how hard anyone clicked, there was no way to purchase e-books from Penguin, Random House, Macmillan, Simon & Schuster, Hachette, and HarperCollins through Amazon. A company spokesperson later confirmed that it was just a technical slip-up, and buy buttons were quickly restored. But given Amazon’s propensity to punish publishers that don’t bend to its will with disabled buy buttons, this brief black-out set off a minor panic in publishing land. Why were only Big Six publishers affected? Did it have anything to do with the ongoing agency pricing legal battles or the Penguin Random House merger? Though it seems to have been nothing more serious than a technical goof, it’s a stark reminder that Amazon has the ability—as well as the leverage—to shut down publishers’ most important connection with consumers at the click of a mouse. [New York Observer]


RELATED: Chart: The Rapid Gains of the E-book


E-reading takes a global turn. E-books may be taking firm holds in the U.S., but they have a long way to go before they became the global format of choice for readers. Italy may be going in an increasingly digital direction soon, with the country’s largest bookseller Mondadori Group partnering with Kobo to stock Touch e-readers in its hundreds of stores. 34,000 e-books will be available for Italian readers. China is another largely untapped market, one that Amazon is eyeing enviously. ZDNet’s Liau Yun Qing reports that Kindles may become available there as early as this month. “If Amazon brings its e-reader to China, it will face competition from Chinese e-commerce player Dangdang which launched its e-reader in July at a retail price of 599 yuan (US$ 79),” she writes. “In comparison, the cheapest Kindle Paperwhite e-reader, which includes “Special Offers”, retails at US$ 119 in the United States.” [ZDNet]


RELATED: New Batman Comic Postponed; Books Banned in China Thrive in Hong Kong


Cities in literature. Mark Binelli’s new book Detroit City Is the Place to Be is all about the Motor City—its ascent during America’s industrial golden age, and its struggle to redefine itself. Given his obsession with the urban, Publishers Weekly decided to tap Binelli for a list of his favorite books that take specific cities as a central theme. It’s more interesting than most lists on this subject might have been. For instance, he shines a light on Joan Didion not for her classic takes on San Francisco or New York, but for her book Miami. And his favorite books to take on New York—Ben Katchor’s The Jew of New York and Joseph Mitchell’s Up in the Old Hotel—are refreshing inclusions. His favorite book about Detroit, Elmore Leonard’s City Primeval, is also a bit surprising. [Publishers Weekly]


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Weinstein Co., Clear Channel, Madison Square Garden Hosting Benefit Concert for Sandy Relief
















LOS ANGELES (TheWrap.com) – Clear Channel Media, The Madison Square Garden Company and The Weinstein Company are joining together to produce a benefit concert to raise money for victims of Hurricane Sandy.


The concert, titled “12-12-12,” will feature live music, although the producers did not reveal who would be performing. The roster should be an A-list one though, given that this is the same group of corporate entities that backed “The Concert for New York City,” a star-studded affair with the likes of The Who and Billy Joel on hand to raise money for 9/11.













The concert for Sandy Relief will be held on December 12, 2012, at Madison Square Garden in New York, and the money raised will be dispensed through the Robin Hood Relief Fund.


Hurricane Sandy slammed into the Eastern Seaboard last week, leaving 110 people dead and more than 1 million without power. Damage from the storm is estimated to be between $ 30 billion to $ 50 billion in economic losses.


“12-12-12″ will be produced by James Dolan, executive chairman of The Madison Square Garden Company; John Sykes, president of Clear Channel Entertainment Enterprises; and Harvey Weinstein, co-founder and chairman of The Weinstein Company.


In a joint statement, the producers said: “The Concert for New York City was a night filled with emotion, courage and tremendous hope when we came together as a city following the 9/11 attack. Once again, our city, as well as millions of our neighbors in the tri-state area, are in desperate need of our assistance as they recover from Hurricane Sandy and rebuild their lives. We have no doubt that the event we are planning will be filled with unforgettable music, entertainment and that uniquely American spirit of community, compassion and generosity.”


Music News Headlines – Yahoo! News



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Abbott hepatitis C drugs bring high cure rates in trial
















(Reuters) – A trio of oral medicines from Abbott Laboratories Inc to treat hepatitis C produced unprecedented cure rates in patients who had failed to benefit from standard treatment, as well as very high cure rates for newly treated patients, Abbott said on Saturday.


Detailed data from the mid-stage trial, called Aviator, were released Saturday at the annual meeting of the American Association for the Study of Liver Disease (AASLD) in Boston.













Investors and patients have very high hopes for the Abbott drugs – a protease inhibitor called ABT-450, a polymerase inhibitor ABT-333 and ABT-267 from a class known as NS5A inhibitors. They are used without interferon, an injectable standard treatment that causes flu-like symptoms.


Abbott said it plans to move ahead with large Phase III studies of the three drugs, used either with or without the standard antiviral pill ribavirin, based on favorable results seen in patients treated for eight weeks or twelve weeks in the Aviator study. Patients in the study had the most common, and hardest-to-treat, strain of hepatitis C known as Genotype 1.


Some 93 percent of patients who failed prior therapy had a sustained virologic response (SVR), meaning they were considered cured, after 12 weeks of taking the trio of new drugs, plus ribavirin.


“Nobody anywhere has broken the 50 percent mark in (cure rates) for this population,” Scott Brun, a senior Abbott research executive said in an interview. “These are robust results.”


Abbott said it aims to be the first company to market an interferon-free regimen to patients with Genotype 1 infections.


Four of 448 patients in the study discontinued treatment due to adverse events, a dropout rate that Abbott said suggested the medicines were very well tolerated.


About 97 percent of previously untreated patients were considered cured after 12 weeks of treatment with the three Abbott drugs, plus ribavirin. Moreover, similarly impressive cure rates were seen among patients taking the three drugs, plus ribavirin, for 8 weeks.


Without ribavirin, 87 percent of previously untreated patients were considered cured after 12 weeks on Abbott’s three drugs, Abbott said.


A pair of new hepatitis C drugs approved last year, Vertex Pharmaceuticals Inc’s Incivek and Merck & Co’s Victrelis, significantly boosted cure rates and cut treatment duration to as low as 24 weeks for some patients. But the protease inhibitors must still be taken with interferon, an injected drug that often causes severe flu-like symptoms that lead many hepatitis patients to delay or discontinue treatment.


Gilead Sciences Inc, Bristol-Myers Squibb Co and Vertex are racing to develop interferon-free treatment regimens. They are expected to become blockbuster products, if approved, because of their far shorter treatment times and better cure rates, compared with existing drug regimens.


Many analysts view Gilead as current leader both on timing and perceived advantages of its experimental hepatitis C program.


An estimated 3 million Americans are believed infected with the virus, which quietly damages the liver over years or decades and is the biggest reason for liver transplants in the United States. Abbott said as many as 170 million people worldwide are infected.


(Reporting By Ransdell Pierson; Editing by Vicki Allen)


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Administrator cuts 330 Comet jobs

















The joint administrators of Comet say 330 staff are being made redundant.













The cuts will be made at the retailer’s head office and support centres in Rickmansworth (99), Hull (53) and a call centre in Clevedon (42).


There have been no redundancies at Comet distribution centres or stores, which continue to trade as normal and no further redundancies are planned.


All 236 Comet stores continue to trade as normal, and staff will continue to be paid, administrators say.


Administrator Neville Kahn said: “Staff will continue to be paid for the work they do while Comet is trading in administration. We remain extremely grateful to the staff and management for their continued loyalty and support at what is clearly a very difficult time.”


All employees who have been made redundant will be receiving full wages earned during the administration. The administrators will also provide assistance in claiming payments from the government’s Redundancy Payments Office.


Comet’s future


Joint administrators Neville Kahn, Nick Edwards and Chris Farrington, from the business advisory firm Deloitte, were appointed last Friday to oversee a possible revival of Comet or sale of the business.


“We are in discussions with a number of parties who have expressed interest in parts of the business and we continue to work hard to preserve jobs,” said Mr Kahn.


He added: “An in-store sale across all stores commenced yesterday and will continue through the coming weeks. We are pleased with the response so far, as the discounts have helped generate record levels of sales.”


It is reported that rival electrical retailers Dixons and PC World enjoyed a surge in shoppers last weekend after Comet called in administrators.


Comet was forced into adminstration after its US backers pulled the plug.


OpCapita and its founder Henry Jackson agreed a deal to buy Comet from Kesa last year for just £2. The private equity advisory firm has been under fire from critics for allowing the retailer to collapse.


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Assad says will live and die in Syria
















DOHA (Reuters) – President Bashar al-Assad said he would “live and die” in Syria and warned that any Western invasion to topple him would have catastrophic consequences for the Middle East and beyond.


Assad’s defiant remarks coincided with a landmark meeting in Qatar on Thursday of Syria’s fractious opposition to hammer out an agreement on a new umbrella body uniting rebel groups inside and outside Syria, amid growing international pressure to put their house in order and prepare for a post-Assad transition.













The Syrian leader, battling a 19-month old uprising against his rule, appeared to reject an idea floated by British Prime Minister David Cameron on Tuesday that a safe exit and foreign exile for the London-educated Assad could end the civil war.


“I am not a puppet. I was not made by the West to go to the West or to any other country,” he told Russia Today television in an interview to be broadcast on Friday. “I am Syrian; I was made in Syria. I have to live in Syria and die in Syria.”


Russia Today’s web site, which published a transcript of the interview conducted in English, showed footage of Assad speaking to journalists and walking down stairs outside a white villa. It was not clear when he had made his comments.


The United States and its allies want the Syrian leader out, but have held back from arming his opponents or enforcing a no-fly zone, let alone invading. Russia has stood by Assad.


The president said he doubted the West would risk the global cost of intervening in Syria, whose conflict has already added to instability in the Middle East and killed some 38,000 people.


“I think that the price of this invasion, if it happened, is going to be bigger than the whole world can afford … It will have a domino effect that will affect the world from the Atlantic to the Pacific,” the 47-year-old president said.


“I do not think the West is going in this direction, but if they do so, nobody can tell what is next.”


QATAR, TURKEY CHIDE OPPOSITION


Backed by Washington, the Doha talks underline Qatar’s central role in the effort to end Assad‘s rule as the Gulf state, which funded the Libyan revolt to oust Muammar Gaddafi, tries to position itself as a player in a post-Assad Syria.


Qatari Prime Minister Hamad bin Jassim Al Thani urged the Syrian opposition to set its personal disputes aside and unite, according to a source inside the closed-door session.


“Come on, get a move on in order to win recognition from the international community,” the source quoted him as saying.


Turkish Foreign Minister Ahmed Davutoglu delivered a similar message, saying, according to the source: “We want one spokesman not many. We need efficient counterparts, it is time to unite.”


An official text of a speech by Qatari Foreign Minister Khalid Mohamed al-Attiyah showed he told the gathering: “The Syrian people awaits unity from you, not divisions … Your agreement today will prove to the international community that there is a unity … and this will reflect positively in the international community’s stance towards your fair cause.”


Across Syria, more than 90 people were killed in fighting on Thursday, the Syrian Observatory for Human Rights said.


In Turkey’s Hatay border province, two civilians, a woman and a young man, were wounded by stray bullets fired from Syria, according to a Turkish official. Turkish forces increased their presence along the frontier, where officials have said they might seek NATO deployment of ground to air missiles.


Syria poses one of the toughest foreign policy challenges for U.S. President Barack Obama as he starts his second term.


International rivalries have complicated mediation efforts. Russia and China have vetoed three Western-backed U.N. Security Council resolutions that would have put Assad under pressure.


Syria’s conflict, pitting mostly Sunni Muslim rebels against forces dominated by Assad’s Alawite minority, whose origins lie in Shi’ite Islam, has fuelled sectarian tensions across the Middle East. Sunni Arab countries and Turkey favor the rebels, while Shi’ite Iran backs Assad, its main Arab ally.


“VICIOUS CIRCLE”


The main opposition body, the Syrian National Council (SNC), has been heavily criticized by Western and Arab backers of the revolt as ineffective, run by exiles out of touch with events in Syria, and under the sway of the Islamist Muslim Brotherhood.


British Foreign Minister William Hague said London would now talk to rebel groups inside Syria, after U.S. Secretary of State Hillary Clinton last week criticized the SNC and called for a new opposition body to include those “fighting and dying”.


But the plan for a body that could eventually be considered a government-in-waiting capable of winning foreign recognition and therefore more military backing ran into trouble almost as soon as it was proposed by SNC member Riyad Seif.


The meeting has so far been bogged down by arguments over the SNC representation and the number of seats the rival groups – which include Islamists, leftists and secularists – will have in a proposed assembly. Seif said he hoped for agreement on that on Thursday night, although the talks may continue into Friday.


Senior SNC member Burhan Ghalioun said the participants were moving towards consensus: “The atmosphere was positive. We all agree that we don’t want to walk away from this meeting in failure,” he told reporters.


Seif’s proposal is the first concerted attempt to merge opposition forces to help end the devastating conflict.


The initiative would also create a Supreme Military Council, a Judicial Committee and a transitional government-in-waiting of technocrats – along the lines of Libya’s Transitional National Council, which managed to galvanize international support for its successful battle to topple Gaddafi.


Michael Doran of the Brookings Institute in Washington told a forum in Doha it would not work for Syria. “It’s not a ridiculous idea, but it’s not going to succeed,” he said.


A diplomat on the sidelines of the talks said international divisions in the U.N. Security council did not help.


“It’s a vicious circle. They are asking the opposition to unite when they admit they are not themselves united,” he said.


(Writing by Tom Perry and Samia Nakhoul; Editing by Alistair Lyon, Alastair Macdonald and Philippa Fletcher)


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‘NBA 2K13′ tops video games titles in October
















NEW YORK (AP) — U.S. retail sales of new video game hardware, software and accessories fell 25 percent in October, marking the 11th straight month of declining sales for physical game products, according to a report from NPD Group.


Many gamers are waiting for big holiday releases such as Activision‘s “Call of Duty: Black Ops II.”













NPD said sales fell to $ 755.5 million from $ 1 billion a year earlier. Sales of video games themselves, excluding PC titles, fell 25 percent to $ 432.6 million. Sales of hardware such as Microsoft‘s Xbox 360 fell 37 percent to $ 187.3 million. Sales of accessories, meanwhile, grew 5 percent to $ 135.6 million.


Thursday’s study from NPD Group tracks sales of new physical products — about 50 percent of the total spending. Excluded are sales of used games and rentals as well as digital and social-network spending.


NPD also listed the top-selling games in October:


1. “NBA 2K13,” Take-Two Interactive Software Inc.


2. “Resident Evil 6,” Capcom USA


3. “Pokemon Black Version 2,” Nintendo Co.


4. “Dishonored,” Bethesda Softworks


5. “Pokemon White Version 2,” Nintendo Co.


6. “Madden NFL 13,” Electronic Arts Inc.


7. “FIFA Soccer 13,” Electronic Arts Inc.


8. “Medal of Honor: Warfighter,” Electronic Arts Inc.


9. “Borderlands 2,” Take-Two Interactive Software Inc.


10. “Skylander Giants,” Activision Blizzard Inc.


Gaming News Headlines – Yahoo! News



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On Twitter, pope to get different type of followers
















VATICAN CITY (Reuters) – Pope Benedict already has 1.2 billion “followers” in the standard sense of the word but he soon will have another type when he enters what for any 85 year old is the brave new world of Twitter.


Vatican officials say the pontiff, who is known not to love computers and still writes most of his speeches by hand, will have his own handle by the end of the year.













“It will be an officially verified channel,” said a Vatican official.


Primarily the tweets will come from the contents of his weekly general audience, Sunday blessings and homilies on major Church holidays. They will also include reaction to major world events, such as natural disasters.


The leader of the world’s 1.2 billion or so Roman Catholics will not, of course, write the tweets himself, but he will sign off on them before they are sent in his name.


But even divine intervention might not help squeeze the gist of a papal encyclical, which can run to more than 140 pages, into 140 characters.


Those tweets will probably be limited to a link to a url with the entire document.


The papal handle has not yet been disclosed but it is widely expected to be @BenedictusPPXVI, his name and title in Latin.


The pope has given a qualified blessing to social networking.


In a document issued last year, he said the possibilities of new media and social networks offered “a great opportunity”, but warned of the risks of depersonalisation, alienation, self-indulgence, and the dangers of having more virtual friends than real ones.


In 2009, a new Vatican website, www.pope2you.net, went live, offering an application called “The pope meets you on Facebook”, and another allowing the faithful to see the pontiff’s speeches and messages on their iPhones or iPods.


The Vatican famously got egg on its face in 2009 when it was forced to admit that, if it had surfed the web more, it might have known that a traditionalist bishop whose excommunication was lifted had for years been a Holocaust denier.


(Reporting By Philip Pullella; editing by Mike Collett-White)


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Tiny Tick May Be Spreading Vegetarianism
















A tiny tick might be to blame for a rash of meat allergies in central and southern regions of the U.S.


A bite from the lone star tick, so-called for the white spot on its back, looks innocent enough. But researchers say saliva that sneaks into the wound might trigger a reaction to meat agonizing enough to convert lifelong carnivores into wary vegetarians.













“People will eat beef and then anywhere from three to six hours later start having a reaction; anything from hives to full-blown anaphylactic shock,” said Dr. Scott Commins, assistant professor of medicine at the University of Virginia in Charlottesville. “Most people want to avoid having the reaction, so they try to stay away from the food that triggers it.”


Cases of the bizarre allergy are cropping up in areas ripe with lone star ticks, according to research presented today at the American College of Allergy, Asthma and Immunology annual meeting in Anaheim, Calif. But whether the bugs cause meat allergies remains unclear.


“It’s hard to prove,” said Commins. “We’re still searching for the mechanism.”


Allergies are immune reactions to foreign substances, from pet hair to peanuts. As antibodies attack the substance that caused the reaction, they trigger the release of histamine, a chemical that causes hives and, in severe cases, life-threatening anaphylaxis.


Commins said blood levels of antibodies for alpha-gal, a sugar found in beef, lamb and pork, rise after a single bite from the lone star tick. He said he hopes experiments that combine tiny samples of tick saliva with the invisible antibodies will prove the two are directly connected.


“It’s complicated, no doubt,” said Commins. “But we think it’s something in the saliva.”


The long lag between exposure to meat and the allergic reaction complicates things even more.


“Most food allergies occur very quickly,” said Dr. Stanley Fineman, president of the American College of Allergy, Asthma and Immunology. “It’s also a bit unusual to see adults develop a food allergy.”


But the tick bite theory could help explain the sudden onset of some meat allergies, Fineman added.


Other Common food allergens include peanuts, shellfish, milk, eggs, soy and wheat. And most food allergy sufferers are glad to discover the source of their misery, even if it means upheaval for their diets.


“Avoidance is the best way to handle any food allergy,” he said.


But meat allergies are hard for some brawny barbecuers to swallow.


“Some people are totally destroyed,” said Commins. “Others say, ‘Maybe I’m better off without it.’”


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Draghi open to ECB rate cut, done helping Greece
















FRANKFURT (Reuters) – The euro zone economy shows little sign of recovering before the year-end despite easing financial market conditions, European Central Bank President Mario Draghi said on Thursday, leaving open the possibility of an interest rate cut in the months ahead.


But after keeping rates on hold on Thursday, Draghi said the ECB cannot do much more to help Greece with its debt burden and gave Spain none of the assurance it wants that ECB bond buying will lower its borrowing costs.













“The ECB is by and large done,” Draghi told his monthly news conference when asked what the bank could do for Greece.


The euro zone is grappling to find a formula to make Greek debt sustainable, with Germany and the International Monetary Fund at odds over the need for governments and the ECB to take a “haircut” on Greek bonds they hold to make the numbers add up.


The ECB agreed earlier this year to hand over to euro zone governments profits on its Greek bonds but has refused to take a hit on the value of the paper, saying that would be “monetary financing” which it is prohibited from doing.


The ECB held its main rate at 0.75 percent, deferring any cut while it waits for a cue to use its new bond-purchase plan. That wait may be prolonged after Spain completed its 2012 funding at affordable rates on capital markets on Thursday.


A Reuters poll had given an 80 percent chance the ECB would hold its main rate, but most of the 73 analysts polled expect it will be cut to a new record low of 0.5 percent within the next few months.


Draghi said ECB monetary policy is “very accommodative”. He declined to comment when asked whether markets were right to expect a rate cut next month and said the policymaking Governing Council had not discussed what it would do next year.


Economist Howard Archer at IHS Global Insight said: “Draghi appeared to ease open the door to a cut in interest rates over the coming months and potentially as soon as December.”


Not everyone expects a cut that soon.


“Our sense is that the ECB is firmly on hold,” said JP Morgan economist Greg Fuzesi, though he added: “Next year, the ECB will act if growth disappoints more fundamentally.”


Describing “a picture of weaker economies” in the euro zone, Draghi said this would influence new ECB economic forecasts due next month. Inflation would remain above the ECB’s target for the rest of the year, before falling below 2 percent in 2013.


“We certainly continue monitoring economic activity and we stand ready to act,” he said.


“We stand ready to act with OMT (bond-purchase plan) once the prerequisites are in place. We also stand ready to act with the rest of standard, normal monetary policy instruments.”


OMT READY TO GO


Recent survey evidence gave no sign of improvement towards the year-end and the risks surrounding the euro area remain on the downside, Draghi said. As he spoke, the euro fell against the dollar and hit a session low in early New York trade.


Gloomy data this week indicated the euro zone economy will shrink in the fourth quarter, which the ECB could eventually respond to by cutting rates.


Before making any decision to cut rates further, the ECB will focus on making sure that its looser policy reaches companies and households across the euro zone, a mechanism that has been broken by the bloc’s debt crisis.


The new bond-purchase plan – dubbed Outright Monetary Transactions (OMTs) – is the ECB’s designated tool for this but can only be activated once a euro zone government requests help from the bloc’s rescue fund and accepts policy conditions and strict international supervision.


So far no request has been made, but the announcement of the policy alone has calmed markets.


“We are ready to undertake OMTs which will help to avoid extreme scenarios, thereby clearly reducing concerns about the materialization of destructive forces,” Draghi said.


Asked whether he could imagine an extreme scenario in which the bank began buying bonds without conditions, he said the answer was ‘no’.


CALLING FOR HELP


Investors and euro zone policymakers have been urging Spain to seek aid but Prime Minister Mariano Rajoy has so far held off a request, saying he wants assurances that ECB intervention would bring down Spain’s debt costs.


Draghi gave Rajoy no comfort.


“The Governing Council will take the final decision in total independence,” he said of any decision on whether to use the OMT programme. “In so doing, it cannot give any assurance ex ante”.


Spain sold 4.8 billion euros of debt including its first longer-term issue in 18 months on Thursday, enough to complete its 2012 financing programme and begin raising funds for next year. So there is little immediate pressure on that front.


Yields on Spanish government bonds have dropped by around 2 percentage points since Draghi said in late July the ECB was ready to do “whatever it takes to preserve the euro” – a pledge that heralded the bond-buying plan.


Investment funds have started flowing back into the euro zone since then, particularly from U.S. money market funds, Draghi said.


Some economists have now raised the possibility that the OMT might never have to be activated considering its impact so far.


But Matteo Cominetta, European economist at UBS, said it would eventually be put to the test because of the large amount of Spanish sovereign debt coming up for refinancing next year, roughly 140 billion euros according to Reuters data.


“Next year, you will have a record supply of Spanish bonds up for renewal in a situation where macro economic data will remain very bad for a long time in Spain,” Cominetta said.


(Reporting by Eva Kuehnen and Paul Carrel, writing by Mike Peacock; Editing by Paul Taylor)


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Ghana building collapse traps dozens, kills 1
















ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.


Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.













The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.


Other officials told The Associated Press that the death toll was likely to rise.


An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.


A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.


“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.


President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.


The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.


The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.


Africa News Headlines – Yahoo! News



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Assad fans vent over Syria at Qatar soccer match
















BEIRUT (Reuters) – Syria blames the state of Qatar for arming rebels bent on overthrowing President Bashar al-Assad. Qatar has accused Assad of genocide. On Thursday afternoon, the two countries battled it out on the soccer field.


“Our souls, our blood, we sacrifice them for Bashar,” the Syrian fans screamed, waving their national flag, as the under-19s played in the United Arab Emirates in an Asian Football Confederation tournament.













Twitter was ablaze with politicized messages on the game from a group of pro-Assad social media enthusiasts.


“Doesn’t matter who wins a football game, at the end #Syria is kicking #Qatar’s mercenaries asses everyday,” said a Twitter user whose tag is @ProSyriana.


The game was broadcast live on Syrian state television, though the commentators steered clear of politics.


Peaceful pro-democracy protests hit Syria’s streets in March 2011 but were met with live ammunition. Nineteen months later, Assad is fighting a civil war against a majority-Sunni Muslim opposition. Assad is an Alawite, a sect that is an offshoot of Shi’ite Islam.


Damascus said from the beginning that the uprising was a foreign-backed conspiracy and ever since, Assad supporters have directed vitriol at Sunni states Qatar and Saudi Arabia.


“#Qatar players (are) falling down like #FSA scum,” said @Syriancommando, a prominent online activist, referring to the Free Syrian Army, a group of Syria army defectors who joined rebel fighters.


In the end, after a Syrian red card and a couple yellows, Qatar won 2-1 but fell out of the tournament on points, while Syria stayed in.


“#Qatar u may have won the battle but u didn’t win the war. #Syria goes on to play next game, Qatar is out. We’ll win the real war too.” said @Partisangirl, a Syrian YouTube commentator.


(Reporting by Oliver Holmes; Editing by Tom Perry and Paul Casciato)


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UK PM warns of witch-hunt against gays in pedophile scandal
















LONDON (Reuters) – British Prime Minister David Cameron warned on Thursday that speculation about the identity of an unidentified member of his ruling Conservative party accused of sexually abusing children could turn into a witch-hunt against gay people.


Cameron, who leads a troubled two-party coalition, ordered an investigation this week after a victim of child sexual abuse in Wales said a prominent Conservative political figure had abused him during the 1970s.













The claims, which follow the unmasking of late BBC star presenter Jimmy Savile as one of Britain’s most prolific sex offenders, have stoked concern that a powerful pedophile ring may have operated in Britain in the 1970s and 1980s.


“I have heard all sorts of names bandied around and what then tends to happen is of course that everyone then sits around and speculates about people, some of whom are alive, some of whom are dead,” Cameron said during an ITV television interview.


“It is very important that anyone who has got any information about any pedophile no matter how high up in the country go to the police,” he said.


Britain’s interior minister warned lawmakers this week that if they named suspected child abusers in parliament they risked jeopardizing future trials.


MPs benefit from “parliamentary privilege” – meaning they can speak inside parliament freely without fear of legal action on a host of legally sensitive issues that might otherwise attract lawsuits.


Reports of child abuse have provoked fevered speculation on the Internet about the identity of the Conservative figure from the era of Margaret Thatcher, prime minister from 1979 to 1990.


When the ITV interviewer passed Cameron a piece of paper with the names of people identified on the Internet as being alleged child abusers, Cameron said:


“There is a danger if we are not careful that this could turn into a sort of witch-hunt particularly against people who are gay.”


“I am worried about the sort of thing you are doing right now – giving me a list of names you have taken off the Internet,” Cameron said.


The BBC aired a program last week in which Steven Messham, one of hundreds of victims of sexual abuse at children’s care homes in Wales over two decades, said he had been sexually abused by a prominent Conservative political figure.


However, the BBC reporter said he could not name the figure because there was “simply not enough evidence to name names”.


(Reporting by Guy Faulconbridge; Editing by Andrew Osborn)


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Sudan’s Bashir vows “painful response” to alleged Israel bombing
















KHARTOUM (Reuters) – Sudan‘s President Omar Hassan al-Bashir on Thursday promised his country would respond robustly to what he believes was an Israeli bombing of a Khartoum arms factory and said he was in “perfect health” after undergoing surgery in Saudi Arabia.


Sudan last month accused Israel of carrying out an air strike on the Yarmouk arms factory in the south of Khartoum, causing a blast that killed four people.













Israel has not commented on the charge, but has long accused Sudan of channeling weapons from Iran to the Hamas-controlled Gaza Strip.


“I am in perfect health, and our response to Israel will be painful,” state radio quoted Bashir, 68, as saying in a brief text message sent to mobile phones.


Bashir, who came to power in a bloodless 1989 coup, left hospital in Saudi Arabia on Wednesday after undergoing a “small, successful” operation, state media said.


Sudanese blogs and newspapers had begun to speculate about the president’s health because he has held fewer public rallies in the past few months. He underwent surgery on his vocal cords in Qatar in August, an official said last month.


Over more than two decades in power, Bashir has weathered multiple armed rebellions, years of U.S. trade sanctions, an arrest warrant from the International Criminal Court, waves of student protests, and the secession of oil-producing South Sudan last year.


He is known for his fiery speeches and for dancing and waving his walking stick at public events.


(Reporting by Khalid Abdelaziz; Writing by Alexander Dziadosz; Editing by Andrew Osborn)


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Stocks plunge after election; Europe woes deepen
















The election behind them, U.S. investors dumped stocks Wednesday and turned their focus to a world of problems — tax increases and spending cuts that could stall the nation’s economic recovery and a deepening recession in Europe.


The Dow Jones industrial average plummeted as much as 369 points, or 2.6 percent, in the first two hours of trading. The average was on track for its worst decline in a year.













The Standard & Poor’s 500 index fell as much as 40 points, or 2.8 percent.


Energy companies and bank stocks took some of the biggest losses. Both industries presumably would have faced lighter and less costly regulation if Mitt Romney had won the election.


Stocks seen as benefiting from President Barack Obama‘s decisive win rose. They included hospitals, free of the threat that a Romney administration would have sought to roll back Obama‘s health care law, and renewable-energy companies.


With the election over, traders’ attention returned to an increasingly sickly European economy, dragged down by a debt crisis for more than three years. The 27-country European Union said unemployment there could remain high for years.


The European Commission, the executive arm of the EU, said that it expects the region’s economic output to shrink 0.3 percent this year. In the spring, the group predicted no change.


For next year, the commission predicted 0.4 percent growth, barely above recession territory. It predicted 1.3 percent last spring.


U.S. stock futures were higher overnight after Obama cruised to victory. They turned sharply lower after the European forecasts and discouraging comments from Mario Draghi, president of the European Central Bank. European markets turned negative as well.


Now that the U.S. election has been resolved, it’s natural for traders to focus on Europe‘s problems, said Peter Tchir, who manages the hedge fund TF Market Advisors.


What they’re tuning in to, he said, is the failure of a major European summit last week and minimal progress on the issues that are holding the region back.


“People can only digest one or two stories at a time, and people had put Europe on the back burner” before the election, he said.


Obama’s win followed a costly campaign that blanketed markets with uncertainty about possible changes to tax rates, government spending and other issues seen as crucial to the prospects of some industries and the broader economy.


As jitters about the election subsided, traders confronted an ugly reality: The so-called fiscal cliff, which will impose automatic tax increases and deep cuts to government spending at the end of the year unless the president and Congress can reach a deal.


That’s no easy task for a deadlocked government whose overall composition has barely changed — a Democratic president and Senate and a Republican House.


If Congress and the White House don’t reach a deal, the spending cuts and tax increases could total $ 800 billion next year. Some economists say that could push the economy back into recession.


Obama‘s re-election does not change the bigger economic or fiscal picture,” Paul Ashworth of Capital Economics Ashworth, an economic research company, said in a note to clients.


Tobias Levkovich, a financial analyst at Citi Research, told clients Wednesday that a compromise on taxes and spending was likely in mid- to late January, but that stocks will probably fall in the meantime.


A deal early next year is much more likely “once the political class begins to negotiate realistically and as the consequences . . . are too costly for either party to ignore,” he wrote.


About two hours into trading, the Dow was down 345 points at 12,921, dipping below 13,000 for the first time since Sept. 4. The S&P 500 was down 37 to 1,391. The Nasdaq composite index dropped 75, or 2.5 percent, to 2,937.


As traders streamed into lower-risk investments, the yield on the 10-year Treasury note plunged to 1.64 percent from 1.75 percent late Tuesday. A bond’s yield declines as demand for it increases.


Stocks continue to hurt from lackluster third-quarter earnings reports, Tchir said.


“There’s been this whole litany of things that have been dragging down the market for a while, earnings chief among them, and that’s still out there,” he said, adding that those concerns “play as much of a role as anything to do with the election.”


Earnings have been relatively weak, with many companies reporting lower revenue and darkening expectations for the coming quarters.


With more than four-fifths of them having reported, companies in the S&P 500 index say earnings are up about 2 percent over last year, the lowest growth rate in three years, according to data from S&P Capital IQ.


Broad industries reacted to the election much as analysts had expected.


Hospital companies soared because of expectations that they will gain business under the health care law, known as ObamaCare. HCA Holdings and Tenet Healthcare leapt 7 percent, Community Health Systems 6 percent and Universal Health Services 4 percent.


With Obama seeking to restrain the growth of military spending, defense companies could struggle to win government contracts. Their stocks fell sharply: Lockheed Martin Lost 5 percent, Northrop Grumman 6 percent and General Dynamics 5 percent.


Among the 10 industry groups in the S&P 500 index, financial stocks and energy companies fell the most.


Banks figure to face tougher regulation in a second Obama term than they would have under Romney. JPMorgan Chase and Citigroup fell 4 percent, Bank of America and Goldman Sachs 6 percent and Morgan Stanley 8 percent.


The biggest losers were coal companies, which had hoped that a Romney administration would loosen mine safety and pollution rules that make it more costly for them to operate. Peabody Energy dived 9 percent, Consol Energy 7 percent, Alpha Natural Resources 13 percent and Arch Coal 11 percent.


Oil companies fell less steeply.


Alternative energy companies, especially solar manufacturers, outperformed the indexes on expectations that they will continue to enjoy generous subsidies. First Solar was roughly flat and Yingli Green Energy Holding edged slightly higher.


Trading also reflected the outcome of ballot measures decided in Tuesday’s election. After two states approved the recreational use of marijuana for the first time, Medical Marijuana Inc., a company too small to be listed on major exchanges, surged 17 percent.


___


Daniel Wagner can be reached at www.twitter.com/wagnerreports.


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Canada firms to capitalize on nuclear trade with India
















NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.


Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.













“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.


A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.


This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.


India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.


Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).


It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.


However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.


PROBABLY BEATING AUSTRALIA


Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.


Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.


“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.


Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.


“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”


Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.


“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.


He also said it should open up the market to service the existing reactors in India.


Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.


Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.


“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.


($ 1 = C$ 0.9965)


(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)


Canada News Headlines – Yahoo! News



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News Summary: Apple-Google lawsuit dismissed
















CASE CLOSED: A federal judge in Madison, Wis., has thrown out a suit by Apple Inc. claiming that Google subsidiary Motorola Mobility is seeking unreasonably high license fees for the use of patents on wireless technology.


THE BACKDROP: The suit is part of a world-spanning battle between Apple and Google, whose Android software powers the smartphones that compete with Apple’s iPhone.













THE DISPUTE: In the suit filed last year, Apple said the license fee Motorola sought was too high. The devices at issue include the iPhone and iPod Touch, as they incorporate Motorola’s patented technologies.


Wireless News Headlines – Yahoo! News



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“Dad’s Army” star Clive Dunn dies aged 92
















LONDON (Reuters) – British actor Clive Dunn, best known as a bumbling old butcher in the popular World War Two sitcom “Dad’s Army”, has died, his agent said on Wednesday.


Dunn passed away on Tuesday, Peter Charlesworth said, adding that he believed the actor died in Portugal where he has lived for many years. He was 92.













As Lance-Corporal Jones in Dad’s Army – a hit television series in the 1960s and 1970s about a group of local volunteer members of the Home Guard – Dunn was famous for catchphrases such as “Don’t panic!” and “They don’t like it up ‘em.”


He also had a No. 1 hit song with “Grandad” in 1971, which he performed several times on TV music show “Top of the Pops”.


Dunn was born in London in 1920 and enrolled in an acting academy after leaving school.


He played several small roles in films in the 1930s before serving in the army in World War Two, ending up in prisoner-of-war and labor camps for four years.


After the war he worked in music halls before enjoying success as Jones in Dad’s Army.


Underlining his ability to play characters far older than his real age, he followed Dad’s Army with a five-year run in children’s comedy series “Grandad” as an elderly caretaker.


According to the BBC, he is survived by his wife Priscilla Morgan and two daughters, Jessica and Polly.


(Reporting by Mike Collett-White, editing by Paul Casciato)


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Soda tax ballot measures fizzle in California
















LOS ANGELES (Reuters) – Voters in two California cities rejected measures that would have imposed the nation’s first penny-per-ounce taxes on businesses that sell sodas and other sugary drinks in an effort to boost municipal revenue and fight obesity.


In El Monte, 76.8 percent of voters said no, while in Richmond, 66.9 percent opposed the measure, according to final results from Tuesday’s election.













Calls to tax sugary drinks have gathered steam as more cities and states struggle to close budget gaps and American waistlines continue to expand.


The American Beverage Association – which represents PepsiCo Inc, Coca-Cola Inc, Dr Pepper Snapple Group Inc and other beverage companies – has spent millions of dollars to beat back soda taxes around the country. The ABA has a strong record of defeating soda tax efforts.


In September New York City passed the first U.S. ban of oversized sugary drinks.


A health board outlawed sugary drinks larger than 16 ounces nearly everywhere they are sold, except groceries and convenience stores. Violators of the ban, which does not include diet sodas, face a $ 200 fine.


About one-third of Americans are obese, and about 10 percent of the nation’s healthcare bill is tied to obesity-related diseases, such as Type 2 diabetes, heart disease and hypertension, according to the Organization for Economic Co-operation and Development.


(Editing by Xavier Briand)


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Asia-Europe Meeting: build growth with cooperation
















VIENTIANE, Laos (AP) — Leaders from Asia and Europe called Tuesday for closer cooperation between the two continents in addressing the current global economic and financial crisis.


The president of the European Council, Herman Van Rompuy, also unequivocally affirmed the euro’s future.













A two-day Asia-Europe Meeting in Laos was attended by leaders and ministers from 51 countries, including new members Norway, Switzerland and Bangladesh.


The meeting, known as ASEM, endorsed closer economic ties between the two continents to promote stronger and sustained growth. Combined, the two regions produce half the world’s GDP and have 60 percent of the world’s population.


The crisis in Europe has affected not only most economies there but also their trading partners in Asia. But Van Rompuy said there was no sign of Asian resentment that it was being asked to carry its ailing European friends.


“There was no blame game,” he said. “Rather a clear sense that in Asia as well as in Europe, we are all on the same boat.”


The leaders also reaffirmed a commitment to fight against trade barriers that have crept in some places as a result of the crisis, European Commission President Jose Manuel Barroso said.


He said there was “a strong rejection of protectionism” and a commitment to the “importance that trade can have for strong sustainable growth.”


Although not on the ASEM agenda, the issue of financially battered Greece was on many minds at the summit.


Greece’s international bailout creditors are demanding a series of painful spending cuts and tax hikes in exchange for rescue loans. Debt inspectors from the European Central Bank, European Commission and International Monetary Fund, collectively known as the troika, are preparing a report on the state of Greece’s compliance with its bailout terms.


Van Rompuy played down fears of problems with the disbursement of Greece’s next bailout payment.


“I urge the Greek government and leading political parties to decide what is needed to reach a final agreement with the troika,” he said.


The next ASEM summit will be in Brussels in two years.


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Cautious reformers tipped for new China leadership
















BEIJING (Reuters) – China‘s ruling Communist Party will this month unveil its new top leadership team, expected to again be an all-male cast of politicians whose instincts are to move cautiously on reform.


Sources close to the leadership say 10 main candidates are vying for seven seats on the party’s next Politburo Standing Committee, the peak decision-making body which will steer the world’s second-largest economy for the next five years.













Only two candidates are considered certainties going into the party’s 18th congress, which starts on Thursday: leader-in-waiting Xi Jinping and his designated deputy, Li Keqiang, who are set to be installed as president and premier next March.


Of the remaining eight contenders, only one has the reputation as a political reformer and only one is a woman.


Following are short biographies of the candidates, including their reform credentials and possible portfolio responsibilities.


XI JINPING


REFORM CREDENTIALS: Considered a cautious reformer, having spent time in top positions in Fujian and Zhejiang provinces, both at the forefront of China‘s economic reforms.


Xi Jinping, 59, is China‘s vice president and President Hu Jintao’s anointed successor. He will take over as Communist Party boss at the congress and then as head of state in March.


Xi belongs to the party’s “princeling” generation, the offspring of communist revolutionaries. His father, former vice premier Xi Zhongxun, fought alongside Mao Zedong in the Chinese civil war. Xi watched his father purged and later, during the Cultural Revolution, spent years in the hardscrabble countryside before making his way to university and then to power.


Married to a famous singer, Xi has crafted a low-key and sometimes blunt political style. He has complained that officials’ speeches and writings are clogged with party jargon and has demanded more plain speaking.


Xi went to work in the poor northwest Chinese countryside as a “sent-down youth” during the chaos of the 1966-76 Cultural Revolution, and became a rural commune official. He went on to study chemical engineering at Tsinghua University in Beijing and later gained a doctorate in Marxist theory from Tsinghua.


A native of the poor, inland province of Shaanxi, Xi was promoted to governor of southeastern Fujian province in 1999 and became party boss in neighboring Zhejiang province in 2003.


In 2007, the tall, portly Xi secured the top job in China‘s commercial capital, Shanghai, when his predecessor was caught up in a huge corruption case. Later that year he was promoted to the party’s standing committee.


- – - -


LI KEQIANG


REFORM CREDENTIALS: Seen as another cautious reformer due to his relatively liberal university experiences.


Vice Premier Li Keqiang, 57, is the man tipped to be China‘s next premier, taking over from Wen Jiabao.


His ascent will mark an extraordinary rise for a man who as a youth was sent to toil in the countryside during Mao’s Cultural Revolution.


He was born in Anhui province in 1955, son of a local rural official. Li worked on a commune that was one of the first places to quietly revive private bonuses in farming in the late 1970s. By the time he left Anhui, Li was a Communist Party member and secretary of his production brigade.


He studied law at the elite Peking University, which was among the first Chinese schools to resume teaching law after the Cultural Revolution. He worked to master English and co-translated “The Due Process of Law” by Lord Denning, the famed English jurist.


In 1980, Li, then in the official student union, endorsed controversial campus elections. Party conservatives were aghast, but Li, already a prudent political player, stayed out of the controversial vote.


He climbed the party ranks and in 1983 joined the Communist Youth League’s central secretariat, headed then by Hu Jintao.


Li later served in challenging party chief posts in Liaoning, a frigid northeastern rustbelt province, and rural Henan province. He was named to the powerful nine-member standing committee in 2007.


- – - -


WANG QISHAN


REFORM CREDENTIALS: A financial reformer and problem solver with deep experience tackling tricky economic and political problems.


Wang Qishan, 64, is the most junior of four vice premiers and an ex-mayor of Beijing. But he has a keen grasp of complex economic issues and is the only likely member of the Standing Committee to have been chief executive of a corporation, leading the state-owned China Construction Bank from 1994 to 1997. As such, he may take a leading role in shaping economic policy, including trade and foreign investment.


Wang is an experienced negotiator who has led finance and trade negotiations as well as the Strategic and Economic Dialogue with the United States. He is a favorite of foreign investors and has long been seen as a problem solver, sorting out a debt crisis in Guangdong province where he was vice governor in the late 1990s and replacing the sacked Beijing mayor after a cover-up of the deadly SARS virus in 2003.


Wang is also a princeling, son-in-law of a former vice premier and ex-standing committee member, Yao Yilin. His possible portfolio could be chairman of the National People’s Congress (China’s rubber-stamp parliament), head of parliament’s advisory body, executive vice premier (responsible for economic issues) or the party’s top anti-corruption official.


- – - -


LIU YUNSHAN


REFORM CREDENTIALS: A conservative who has kept domestic media on a tight leash.


Liu Yunshan, 65, may take over the propaganda and ideology portfolio for the Standing Committee.


He has a background in media, once working as a reporter for state-run news agency Xinhua in Inner Mongolia, where he later served in party and propaganda roles before shifting to Beijing.


As minister of the party’s Propaganda Department since 2002, Liu has also sought to control China‘s Internet, which has more than 500 million users. He has been a member of the wider Politburo for two five-year terms ending this year.


Liu has not worked directly for the Communist Youth League, but is aligned to it through his lengthy career in an inland, poor province, long ties to the party’s propaganda system and close relationship with Hu Jintao.


- – - -


LI YUANCHAO


REFORM CREDENTIALS: A reformer who has courted foreign investment and studied in the United States.


Li Yuanchao, 61, oversees the appointment of senior party, government, military and state-owned enterprise officials as head of the party’s powerful organization department. On the Standing Committee, he could head the fight against corruption.


Li, whose father was a vice-mayor of Shanghai, has risen far since his parents were persecuted and he was a humble farm hand during the Cultural Revolution.


Politically astute, Li can navigate between interest groups, from Hu’s Youth League power base to the princelings.


As party chief in his native province, Jiangsu, from 2002 to 2007, Li oversaw a rapid rise in personal incomes and economic development, attracting foreign investment from global industrial leaders such as Ford, Samsung and Caterpillar.


He earned mathematics and economics degrees from two of China‘s best universities and a doctorate in law. He also spent time at Harvard University’s Kennedy School of Government in the United States.


- – - -


ZHANG DEJIANG


REFORM CREDENTIALS: A conservative trained in North Korea.


Zhang Dejiang, 65, saw his chances of promotion boosted this year when he was chosen to replace disgraced politician Bo Xilai as Chongqing party boss. He also serves as vice premier in charge of industry, though his record has been tarnished by the downfall of the railway minister last year for corruption.


Zhang is close to former president Jiang Zemin who still wields some influence. He studied economics at Kim Il-sung University in North Korea and is a native of northeast China.


On his watch as party chief of Guangdong, the southern province maintained its position as a powerhouse of China‘s economic growth, even as it struggled with energy shortages, corruption-fuelled unrest and the 2003 SARS epidemic.


- – - – -


ZHANG GAOLI


REFORM CREDENTIALS: A financial reformer with experience in more developed parts of China.


Zhang Gaoli, 65, party chief of the northern port city of Tianjin and a Politburo member since 2007, is seen as a Jiang Zemin ally but also acceptable to President Hu, who has visited Tianjin three times since 2008. Zhang is an advocate of greater foreign investment and he introduced financial reforms in a bid to turn the city into a financial center in northern China.


He was sent to clean up Tianjin, which was hit by a string of corruption scandals implicating his predecessor and the former top adviser to the city’s lawmaking body. The adviser committed suicide shortly after Zhang’s arrival.


A native of southeastern Fujian province, Zhang trained as an economist. He also served as party chief and governor of eastern Shandong province and as Guangdong vice governor.


Zhang is low-key with a down-to-earth work style, and not much is known about his specific interests and aspirations. But with his leadership experience in more economically advanced cities and provinces, including party secretary of the showcase manufacturing and export-driven city of Shenzhen, he could be named executive vice premier.


- – - – -


WANG YANG


REFORM CREDENTIALS: Seen by many in the West as a beacon of political reform.


Wang Yang, 57, is party chief of the export dependent economic hub of Guangdong province. He was not included in a list of preferred Standing Committee candidates drawn up by Xi, Hu and Hu’s predecessor, Jiang Zemin, according to sources close to the leadership, but is firmly in the running.


Born into a poor rural family in eastern Anhui province, Wang dropped out of high school and went to work in a food factory at age 17 to help support his family after his father died. These experiences may have shaped his desire for more socially inclusive policies, including his “Happy Guangdong” model of development designed to improve quality of life.


Concerned about the social impact of three decades of blistering development, he lobbied for social and political reform. However, this approach has drawn criticism from party conservatives and Wang has more recently adopted the party’s more familiar method of control and punishment to keep order.


- – - – -


YU ZHENGSHENG


REFORM CREDENTIALS: Relatively low-key but considered a cautious reformer.


Yu Zhengsheng, 67, is party boss in China‘s financial hub and most cosmopolitan city, Shanghai.


His impeccable Communist pedigree made him a rising star in the mid-1980s until his brother, an intelligence official, defected to the United States. His close ties with Deng Pufang, the eldest son of late paramount leader Deng Xiaoping, spared him the full political repercussions but he was taken off the fast track.


Yu bided his time in ministerial ranks until bouncing back, joining the Politburo in 2002. However, the princeling’s age would require him to retire in 2017 after one term.


- – - – -


LIU YANDONG


REFORM CREDENTIALS: Uncertain.


Liu Yandong, who turns 67 this month, is the only woman given a serious chance to join the Standing Committee but is considered a dark horse. She is a princeling also tied to President Hu’s Youth League faction.


If promoted, she could head up parliament’s advisory body, but her age would also force her to retire after only one term.


Her bigger challenge is that no woman has made it into the Standing Committee since 1949. Not even Jiang Qing, the widow of late Chairman Mao Zedong, made it that far.


Liu, daughter of a former vice-minister of agriculture, is currently the only woman in the 25-member Politburo, a minority in China‘s male-dominated political culture. She has been on the wider Politburo since 2007 as one of five state councilors, a rank senior to a cabinet minister but junior to a vice-premier.


(Reporting by Terril Yue Jones, Ben Blanchard, Benjamin Kang Lim and Sui-Lee Wee in Beijing. Additional reporting by Chris Ip, Grace Li, Jean Lin, Young Wang, Alice Woodhouse and Julie Zhu; Editing by Raju Gopalakrishnan and Mark Bendeich)


World News Headlines – Yahoo! News



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Whale injures three boatmen off South Africa’s coast
















JOHANNESBURG (Reuters) – Three men were injured on Monday when a whale leaped out of the water and landed on their inflatable boat off South Africa’s south coast near the harbor city of Port Elizabeth, the National Sea Rescue Institute (NSRI) said on Tuesday.


The weight of animal, believed to be a humpback whale, pushed the craft underwater but the boat popped back to the surface and one of the men was able to raise the alarm with a cell phone, the NSRI said in a statement.













Illuminating flares were then used to search for the men and their stricken boat on a moonless night.


“The boat was found about one nautical mile off-shore with all three men clinging onto the hull,” said Ian Gray, NSRI Port Elizabeth station commander.


One of the men was in a stable but serious condition, having sustained suspected rib fractures, an arm and a leg injury. The other two escaped with lesser injuries, the NSRI said.


(Reporting by Sherilee Lakmidas; Editing by Ed Stoddard and Paul Casciato)


Wireless News Headlines – Yahoo! News



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Ivorian reggae singers bury rivalry for “peace” tour
















ABIDJAN (Reuters) – As darkness falls over Ivory Coast‘s lagoon-side commercial capital a steady thumping cuts through the tropical night.


But where once the thud of heavy weapons set the Abidjan‘s residents scrambling indoors for cover, tonight it is a reggae bass line that draws them out.













Here, little over a year ago, supporters of then-president Laurent Gbagbo and his rival Alassane Ouattara were fighting a brief post-election civil war, the final deadly showdown of a decade-long political crisis.


After years teetering precariously between war and peace, the flames of division, xenophopia and anger – fanned in no small degree by some of the country’s most famous musicians – exploded into a conflict in which more than 3,000 people died.


One of Ivory Coast’s leading reggae artists, Serge Kassy, even rose to become a leader and organizer of Gbagbo’s Young Patriots street militia – a group accused of numerous atrocities during the war. Kassy is now in exile.


“When I looked at the musical scene in Ivory Coast, I realized that we ourselves went too far,” said Asalfo Traore of the zouglou band Magic System, one of the few groups that refused to take sides during the crisis years.


“It was when everything was ruined that we wanted to glue the pieces back together. But it was too late.”


Now, long-divided musicians are once again coming together, hoping to use their influence, so destructive for so long, to help Ivory Coast heal its deep wounds, and the country’s leading rival reggae artists are showing the way.


REGGAE RIVALRY


The long feud between Alpha Blondy and Tiken Jah Fakoly is a thing of legend in the reggae world, though neither has been willing to say what was behind the bad blood.


Both men come from Ivory Coast’s arid north and share a musical genre. But the similarities stop there.


Alpha, considered the father of Ivorian reggae, takes the stage in Abidjan clad in a shimmering pink suit, golden tie and Panama hat of an urban dandy. Tiken wears the traditional flowing robes of his northern Malinke tribe.


During the crisis, Alpha remained in Ivory Coast, while Tiken, a vocal critic of President Gbagbo‘s regime, went into exile in neighboring Mali.


They had so successfully avoided each other during their long parallel careers that before he picked up the phone to approach Alpha with the idea of uniting for a series of peace concerts, Tiken claimed they’d met only twice.


“Before going to the Ivorians to ask them to move towards reconciliation, it was important for us to show a major sign. That’s what we did,” Tiken told Reuters.


Out of a meeting in Paris was born a simple idea: six concerts in six towns across a country once split between a rebel north and government-held south, bringing together musicians from across the political spectrum to push for peace.


“No one’s died over the problems between Tiken and me,” said Alpha. “There are things that are more serious than our little spats, our pride and our vanities.”


Uniting the Ivorian music scene proved relatively easy in the end. Uniting the country could prove a tougher task.


BUSINESS AS USUAL


Some 18 months since the war ended, reconciliation in Ivory Coast is going nowhere.


Though Ouattara is praised by international partners for quicky turning around the economy, critics complain he has done little to foster unity. He has so far refused to prosecute those among his supporters accused of atrocities during the war.


Meanwhile Gbagbo, who lost the run-off election but garnered 46 percent of votes, is in The Hague on war crimes charges.


The leaders of his FPI political party are either dead, in jail or living in exile, from where they are accused by United Nations investigators of organizing deadly armed raids on Ivorian police, military and infrastructure targets.


“People came here for Alpha, Tiken Jah and artists they only ever see on TV, not for reconciliation,” said high school teacher Michel Loua in Gagnoa, the second stop on the tour in Gbagbo’s home region.


“The politicians have made a business of it. They talk up reconciliation when it suits them, otherwise they could care less,” he said.


Unity was never a problem, Alpha said, until politicians began to play the ethnic identity card in the struggle for power that followed the death of independence President Felix Houphouet-Boigny in 1993. And even after the violence and massacres, it is still not the problem today.


“Ivorians are not divided. That’s what I discovered,” he said on the last night of the tour. “If there are people that need reconciliation, it’s not the artists or the people. It’s the politicians,” he said.


Minutes later he was on stage singing “Course au Pouvoir”, a 16-year-old song that has found new relevance today with its lyrics: “There’s blood on the road that leads to the tower of power. Innocent blood.”


Having wrapped up their tour, Tiken, Alpha and the rest of the musicians are due to meet with President Ouattara and plan to call for the release of all pro-Gbagbo prisoners not accused of involvement and killings as a sign of good will.


The move has been called for by human rights groups as well as the FPI, who list it as one of their pre-conditions for dialogue. And though Ouattara has given no indication he is open to the possibility, many feel it is an unavoidable step towards lasting peace.


(Editing by Richard Valdmanis, editing by Paul Casciato)


Music News Headlines – Yahoo! News



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