Swiss seek progress on U.S. tax deal: economy minister
















ZURICH (Reuters) – Switzerland hopes to restart talks with the U.S. over a long-simmering tax dispute following the re-election of president Obama, its economy minister was quoted as saying on Sunday.


Switzerland is trying to reach a deal to end investigations by U.S. tax authorities into 11 banks, including Credit Suisse and Julius Baer , suspected of helping clients dodge U.S. taxes with the help of offshore bank accounts.













It needs the tax deal so that it can normalize its banking relations with the United States and wants the investigations dropped in return for the payment of hefty fines by the Swiss banks and the transfer of names of thousands of U.S. clients.


“We are seeking clarification quickly,” Johann Schneider-Ammann told the Zentralschweiz am Sonntag newspaper. “The situation has been blocked recently. That must now change.”


The talks had stalled in the run-up to the U.S. election, and finance minister Eveline Widmer-Schlumpf has suggested the ball is firmly in the U.S. court.


The two countries are at odds over U.S. demands for Switzerland to hand over bank data from before 2009.


In a separate interview with the BaslerZeitung at the weekend, Credit Suisse Chairman Urs Rohner said the unresolved tax deal was a burden.


“We are doing everything that we can and may to resolve the problem. But in the end there is a need for a solution that all involved will have to agree to.”


(Reporting by Caroline Copley; Editing by Elaine Hardcastle)


Economy News Headlines – Yahoo! News



Read More..

Ohio teen sentenced to life in Craigslist murders
















AKRON, Ohio (Reuters) – Seventeen-year-old Brogan Rafferty was sentenced to life in prison without parole on Friday for his role in the killing of three men and the attempted murder of another, some of whom were lured by a Craigslist ad promising work on an Ohio farm.


Rafferty was 16 when he was arrested in November 2011, but was tried as an adult. He was convicted late last month in the murders of David Pauley, 51, of Norfolk, Virginia; Ralph Geiger, 56, of Akron, Ohio; and Timothy Kern, 47, of Massillon, Ohio.













Prosecutors called the teen an apt pupil to the alleged trigger-man, Richard Beasley, 53, who is also charged in the murders.


Rafferty testified that he was terrified of the man he had considered a father figure and spiritual advisor after he saw Beasley shoot Geiger in the head execution-style.


During the trial, jurors heard testimony that the teen helped dig the graves for three of the men and was found in possession of guns and knives stolen from them after Beasley shot them.


Beasley’s trial is scheduled in the same courtroom for January 7. He faces the death penalty if convicted. Both Rafferty and Beasley’s attorneys are under a gag order and are not permitted to talk to the media.


In other incidents involving Craigslist and other social media, people advertising goods for sale or responding to ads have been attacked and killed.


In 2009, a former medical student was accused of killing a masseuse he met through Craigslist. In February, two men in Tennessee were accused of killing a man and a woman for “unfriending” the daughter of one of the suspects on Facebook.


(Reporting by Kim Palmer; Editing by Mary Wisniewski and David Brunnstrom)


Internet News Headlines – Yahoo! News



Read More..

Bond bounds back to top of box office in “Skyfall”
















LOS ANGELES (Reuters) – The new James Bond movieSkyfall” dominated movie box offices with $ 87.8 million in ticket sales in its U.S. and Canadian debut over the weekend for the biggest Bond opening ever, according to studio estimates released on Sunday.


Skyfall,” starring Daniel Craig as the famous super-spy, finished ahead of last weekend’s winner, family film “Wreck-It Ralph.” The animated Walt Disney Co movie about a videogame character grabbed $ 33.1 million from Friday through Sunday.













In third place, the Denzel Washington drama “Flight” earned $ 15.1 million. The movie tells the story of an airline captain who saves his plane from crashing but is accused of drinking before the flight.


Sony Corp’s movie studio released “Skyfall.” “Flight” was distributed by Paramount Pictures, a unit of Viacom Inc.


(Reporting by Lisa Richwine; Editing by Will Dunham)


Movies News Headlines – Yahoo! News



Read More..

Novartis drug helps patients with rare inflammatory diseases
















ZURICH (Reuters) – Novartis‘ Ilaris helps reduce patients’ symptoms and the frequency of attacks in two rare inflammatory diseases, mid-stage studies showed, as the Swiss drugmaker looks to expand the use of the medicine.


Results of two separate studies on Sunday in patients with Familial Mediterranean Fever (FMF) and TRAPS – rare genetic diseases which can cause fever, rash and joint pain – both met their primary endpoints, Novartis said in a statement.













Both studies are being presented at the American College of Rheumatology (ACR) meeting in Washington D.C.


Ilaris or ACZ885, which blocks a protein called interleukin-1 beta that is thought to increase inflammation, is already sold for treating cryopyrin-associated periodic syndromes, a rare inflammatory disorder.


Novartis is also hoping to file the drug this year for regulatory approval in systemic juvenile idiopathic arthritis (SJIA), a debilitating disease that can affect a child’s growth.


Results of the phase II study showed the drug helped 100 percent of FMF patients reduce the frequency of attacks by at least 50 percent during three months of treatment.


Eight of the nine patients in the trial did not have an attack during the three months and blood markers of inflammation also normalized.


There are currently no approved treatments for FMF or TRAPS, rare genetically-inherited anti-inflammatory diseases, which can affect both children and adults.


Novartis is hoping to show the drug can be beneficial in treating rare inflammatory diseases after receiving a setback last year when U.S. health regulators rejected Ilaris for use in gout over concerns about side effects.


New data from a mid-stage study on the use of Ilaris in TRAPS showed that patients who came off therapy after being treated with the drug did not have a relapse for three months on average.


Earlier data from the study showed that 90 percent of patients experienced a significant improvement in symptoms after just one week of treatment with Ilaris. This rose to 95 percent after two weeks.


(Reporting by Caroline Copley; Editing by Elaine Hardcastle)


Diseases/Conditions News Headlines – Yahoo! News



Read More..

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)


Economy News Headlines – Yahoo! News



Read More..

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]


Gadgets News Headlines – Yahoo! News



Read More..

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



Read More..

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)


Medications/Drugs News Headlines – Yahoo! News



Read More..

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.


BBC News – Business



Read More..

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)


World News Headlines – Yahoo! News



Read More..