Madonna fan guilty in NYC resisting arrest trial

NEW YORK (AP) — A former firefighter with a crush on Madonna has been convicted of resisting arrest outside her former New York City apartment building as he spray-painted poster boards with love notes.

A jury delivered its verdict Friday in Robert Linhart‘s trial. He could face up to a year in jail.

Defense lawyer Lawrence LaBrew tells the New York Post (http://bit.ly/ZgI4jl) that Linhart will appeal.

Linhart was arrested in September 2010. Police say he parked his SUV outside the singer’s Manhattan apartment, laid out a tarp and wrote out such messages as “Madonna, I need you.”

Jurors told the Post they felt it was fine for Linhart to express himself to the Material Girl. But they said they believed police testimony that he resisted arrest by flailing his arms.

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Official: China can meet 7.5 percent growth target

BEIJING (AP) — China‘s sharp economic downturn has ended after trade and consumer spending improved in October but the world’s second-largest economy is not ready for a recovery and exporters face tough conditions, officials said Saturday.

The economy should be able to meet the government’s 7.5 percent growth target this year, the chairman of the country’s planning agency told a news conference during a congress of the ruling Communist Party.

The comments echoed private sector analysts who say economic activity is improving but a recovery from China’s deepest slump since the 2008 global financial crisis will be gradual and weak.

“The figures do indeed indicate an obvious trend of the Chinese economy stabilizing,” Zhang Ping said.

“That said, we should not let down our guard,” he said. “Our conclusion is that the foundation is not solid enough for a rebound in the Chinese economy and therefore we need to step up our efforts.”

Trade data on Saturday showed export growth accelerated in October to 11.6 percent from the previous month’s 9.9 percent. Data released Friday showed auto sales, consumer spending and investment also improved in October.

Zhang gave no indication what new initiatives Beijing might consider. The government has cut interest rates twice this year and is injecting money into the economy through higher spending on building airports and other public works and investment by state companies. But it has avoided a large stimulus after its huge response to the 2008 crisis fueled inflation.

Economic growth fell to a three-and-a-half-year low of 7.4 percent in the quarter ending in September. Growth for the first three quarters of the year was 7.7 percent, putting the government’s target for the year within reach.

Also in October, inflation fell, giving Beijing room to launch new stimulus if needed with less danger of igniting new price spikes.

The improvement is welcome news for the ruling Communist Party, which is in the midst of a congress to install younger leaders who might benefit from an economic uptick.

Still, Commerce Minister Chen Deming warned that Chinese exporters face tough conditions due to weak global demand and rising operating costs.

“The trade situation will be relatively grim in the next few months and there will be many difficulties next year,” Chen told a news conference.

Stronger exports will help manufacturers that were battered by last year’s slump in global demand. Thousands closed and survivors slashed payrolls, raising the danger of unrest as Communist leaders tried to enforce calm ahead of the leadership transition.

The import weakness meant China’s global trade surplus widened by nearly 90 percent over a year ago to $ 32 billion — the highest monthly level this year.

Chen also warned that “growing trade protectionism” might hurt exporters.

World leaders pledged after the 2008 crisis to avoid steps that might hinder trade and hamper a recovery. But Beijing and trading partners including the United States, Europe and Japan have raised tariffs on goods including autos and solar panels in a series of disputes over market access, subsidies and other issues.

Lackluster Chinese import demand reflects government curbs on lending and investment to cool inflation and overheating.

Those controls helped to crush surging prices but hurt China’s large construction industry and depressed its voracious appetite for steel beams, wiring and other materials made of imported iron ore, copper and other commodities. That is bad news for miners and other commodity exporters such as Australia and Brazil that supply China.

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GSK rotavirus shot chosen for UK immunisation campaign

LONDON (Reuters) – GlaxoSmithKline‘s Rotarix vaccine has been chosen for Britain‘s first routine rotavirus immunisation programme to protect babies and children against the most common cause of severe diarrhoea and vomiting.

Rotarix, a two-dose oral vaccine squirted into the baby’s mouth, will be added to the childhood immunisation schedule for three years from September 2013 to vaccinate all babies aged 6-24 weeks, the government said.

Rotavirus is a common and highly contagious virus that infects the bowel and stomach, swiftly causing gastroenteritis, or diarrhoea and vomiting.

It is the most common cause of gastroenteritis in babies and young children in Britain, where public health experts estimate every child will have at least one rotavirus infection before their fifth birthday.

Adam Finn, a professor of paediatrics at Bristol University said the new vaccination would help cut down epidemics of diarrhoea and vomiting in babies and young children that occur every winter in Britain.

“It will also help hospitals cope in the busy winter months by reducing pressure on beds and front-line staff,” he said.

Rotavirus vaccines are already included in routine childhood immunisation programmes across the world including in Australia, Austria, Belgium and the United States.

The GAVI Alliance, which funds bulk-buy immunisation programmes for poorer countries, is also helping to roll out rotavirus vaccines in developing nations.

In Britain, rotavirus infections have been estimated to cost the taxpayer-funded National Health Service at least 14.2 million pounds ($ 23 million) a year.

Rival U.S. drugmaker Merck also makes a rotavirus vaccine called Rotateq.

($ 1 = 0.6262 pound)

(Reporting by Kate Kelland; Editing by Dan Lalor)

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China derides U.S. “Cold War mentality” towards telecoms firm Huawei

BEIJING (Reuters) – The United States is exhibiting a “Cold War mentality” with its fears that Chinese telecommunications equipment manufacturer Huawei poses a security risk because of its ties to the Communist Party, China‘s commerce minister said on Saturday.

The U.S. House of Representatives’ Intelligence Committee warned last month that Beijing could use equipment made by Huawei, the world’s second-largest maker of routers and other telecom gear, as well as rival Chinese manufacturer ZTE, the fifth largest, for spying.

The report cited the presence of a Communist Party cell in the companies’ management structure as part of the reason for concern.

The state role in business prompted a U.S. congressional advisory panel to complain this week that Chinese investment in the United States had created a “potential Trojan horse”.

“Can you imagine if China started asking U.S. companies coming to China what their relationship was with the Democratic or Republican parties? It would be a mess,” Commerce Minister Chen Deming, himself a Communist Party member, told reporters on the sidelines of the 18th Party Congress, which will usher in a new generation of leaders.

“If you see me as a Trojan horse, how should I view you? By this logic, if the Americans turned it around, they would see that it’s not in their interest to think this way.”

All Chinese state-owned enterprises and a growing number of private Chinese firms have a Communist Party secretary at the top of their management structure. In most cases, the top management are themselves party members.

Neither Huawei nor ZTE is state-owned. Huawei is owned by its employees and ZTE by different institutions.

Suspicions of Huawei are partly tied to its founder, Ren Zhengfei, a former People’s Liberation Army officer. Huawei denies any links with the Chinese military and says it is a purely commercial enterprise.

The Commerce Ministry China last month dismissed the U.S. suspicions as groundless.

“This report by the relevant committee of the U.S. Congress, based on subjective suspicions, no solid foundation and on the grounds of national security, has made groundless accusations against China,” spokesman Shen Danyang said.

(Reporting by Lucy Hornby; Editing by Nick Macfie)

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Twin explosions strike southern Syrian city

BEIRUT (AP) — Syria‘s state-run news agency says two large explosions have struck the southern city of Daraa, causing multiple casualties and heavy material damage.

SANA did not immediately give further information or say what the target of Saturday’s explosions was.

The Britain-based Syrian Observatory for Human Rights says the blasts went off near a branch of the country’s Military Intelligence in Daraa.

The Observatory, which relies on a network of activists on the ground, says the explosions were followed by clashes between regime forces and rebels fighting to topple President Bashar Assad.

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Ex-oilman named new leader of world’s Anglicans

LONDON (Reuters) – Britain named a former oil executive as the new Archbishop of Canterbury and leader of the world’s 80 million Anglicans on Friday as the church struggles to overcome a painful rift over the issues of female bishops and same-sex marriage.

Welby, 56, who has been bishop of the northern English city of Durham for little more than a year, will replace incumbent Rowan Williams who steps down in December.

The long-awaited appointment, announced by Prime Minister David Cameron‘s office in a statement, follows weeks of intense speculation that a row over whether to choose a reformer or a safe pair of hands had stalled the nomination process.

For Welby, the move capped a meteoric rise up the Church of England hierarchy since quitting the business world and being ordained in 1992.

The bespectacled father-of-five is seen as more conservative than the liberal Williams and is widely reported to be against gay marriage but in favor of the ordination of women bishops.

(Writing by Maria Golovnina Editing by Guy Faulconbridge)

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Stock index futures signal flat to higher open

PARIS (Reuters) – Stock index futures pointed to a flat to higher open on Wall Street on Friday, with futures for the S&P 500 up 0.15 percent, Dow Jones futures flat and Nasdaq 100 futures up 0.29 percent at 1000 GMT.

World stocks were on course for their worst weekly performance since June on Friday as concerns over the U.S. fiscal cliff and the outlook for Europe hit sentiment.

Groupon will be in focus after the group’s results again fell short of Wall Street‘s already-cautious expectations as the daily deal company failed to turn around a struggling European business, sending its shares to a record low.

Activist investor Carl Icahn said on Thursday he has considered a hostile takeover bid for Netflix but was uncertain he stood a chance of acquiring the Internet streaming service in which he holds a 10 percent stake.

Mexico’s top cement maker Cemex said on Thursday that it was pleased with the way its U.S. business was evolving but acknowledged it is still far from fully recovering.

Energizer Holdings Inc said on Thursday that it would cut more than 10 percent of its workforce, or about 1,500 people.

Boeing Co reported it has bagged more than 1,000 net new orders so far this year, putting the U.S. planemaker on course to sell more aircraft than European rival Airbus for the first time since 2006.

Career Education Corp will close 23 campuses and cut 900 jobs amid losses and falling student enrollments that also threaten to affect its financial position.

TSMC <2330.TW>, the world’s biggest contract chip maker, said on Friday that sales in October rose 32.3 percent from a year earlier to a record high.

Allscripts Healthcare Solutions Inc said it is evaluating its future, confirming a report that the healthcare technology firm may sell itself, sending its shares up 7 percent.

Merrill Lynch, part of Bank of America Corp , on Thursday lost its bid to dismiss a federal regulator’s lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt.

Nvidia forecast revenue below expectations due to a slowdown in tablet-processor shipments and a troubled PC market but shares of the graphics chipmaker rose on the announcement of a quarterly dividend.

Rare earth producer Molycorp Inc reported a third-quarter loss on Thursday, as lower rare earth prices and higher production costs outweighed a boost in output.

Chrysler Group LLC’s minority owner is expected to lay out its argument on Monday in a legal dispute over the price Italian carmaker Fiat will pay for the first of several incremental stakes in the U.S. carmaker.

Russia’s second-largest crude producer, LUKOIL , said on Friday it will study an offer from Exxon regarding Iraq’s West Qurna-1 oilfield, which the U.S. major wants to leave, Interfax news agency reported.

President Barack Obama and the U.S. Congress must urgently confront the country’s looming year-end “fiscal cliff,” a senior Federal Reserve policy-maker said on Thursday. “This could cause tremendous damage to the U.S. economy if it is not addressed in an appropriate way,” St. Louis Federal Reserve President James Bullard told reporters.

The International Monetary Fund on Thursday urged the United States to quickly reach an agreement on a permanent fix to avoid automatic tax hikes and spending cuts early next year, saying a stop-gap solution could be harmful to the global economy.

On the macro front, investors awaited the Thomson Reuters/University of Michigan’s preliminary November consumer sentiment index, due at 1455 GMT, expected to show a reading of 83.0 compared with 82.6 in the final October report.

Investors will also keep an eye on wholesale inventories for September, due at 1500 GMT.

U.S. stocks fell on Thursday and could be in line for more weakness as worries about Washington’s ability to find a timely solution to the “fiscal cliff” dominate investor thinking in coming weeks.

The Dow Jones industrial average <.DJI> lost 121.41 points, or 0.94 percent, to end at 12,811.32. The Standard & Poor’s 500 Index <.SPX> fell 17.02 points, or 1.22 percent, to 1,377.51, ending at its lowest level since August 2. The Nasdaq Composite Index <.IXIC> dropped 41.70 points, or 1.42 percent, to close at 2,895.58.

(Reporting by Blaise Robinson)

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Hepatitis hits more than 1,000 refugees in South Sudan: UNHCR

GENEVA (Reuters) – An outbreak of hepatitis E has infected at least 1,050 Sudanese refugees in South Sudan, killing 26 and threatening to spread further among people still arriving in crowded camps, the United Nations said on Friday.

About 175,000 people have already fled to South Sudan to escape fighting in Sudan’s South Kordofan and Blue Nile states, the U.N. High Commissioner for Refugees said. Thousands more are expected to cross in coming weeks after the rainy season ends, it added.

“To date, 26 refugees have died in camps in Upper Nile (state),” UNHCR spokesman Adrian Edwards told a news briefing in Geneva.

“The capacity to contain an outbreak of hepatitis E among the refugee population is increasingly jeopardized. The risks will grow if, as currently anticipated, we see fresh inflows of refugees from South Kordofan and Blue Nile states,” he said.

The death toll was up from 16 on September 13.

The virus, contracted and spread through contaminated food and water, damages the liver and can be fatal.

To counter spread of the disease, the UNHCR was struggling to provide 15 to 20 liters of safe drinking water per refugee per day and building enough latrines so that each unit is shared by no more than 20 refugees, said Edwards.

The agency needs at least $ 20 million by the end of the year for its South Sudan operation as only 40 percent of its appeal for $ 186 million has been received, he added.

(Reporting by Stephanie Nebehay; Editing by Andrew Heavens)

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Exclusive: SEC left computers vulnerable to cyber attacks – sources

WASHINGTON (Reuters) – Staffers at the U.S. Securities and Exchange Commission failed to encrypt some of their computers containing highly sensitive information from stock exchanges, leaving the data vulnerable to cyber attacks, according to people familiar with the matter.

While the computers were unprotected, there was no evidence that hacking or spying on the SEC‘s computers took place, these people said.

The computers and other electronic devices in question belonged to a handful of employees in an office within the SEC’s Trading and Markets Division. That office is responsible for making sure exchanges follow certain guidelines to protect the markets from potential cyber threats and systems problems, one of those people said.

Some of the staffers even brought the unprotected devices to a Black Hat convention, a conference where computer hacking experts gather to discuss the latest trends. It is not clear why the staffers brought the devices to the event.

The security lapses in the Trading and Markets Division are laid out in a yet-to-be-released report that by the SEC’s Interim Inspector General Jon Rymer.

NO DATA BREACHED

The revelation comes as the SEC is encouraging companies to get more serious about cyber attacks. Last year, the agency issued guidance that public companies should follow in determining when to report breaches to investors.

Cyber security has become an even more pressing issue after high-profile companies from Lockheed Martin Corp to Bank of America Corp have fallen victim to hacking in recent years.

Nasdaq OMX Group, which runs the No. 2 U.S. equities exchange, in 2010 suffered a cyber attack on its collaboration software for corporate boards, but its trading systems were not breached.

One of the people familiar with the SEC’s security lapse said the agency was forced to spend at least $ 200,000 and hire a third-party firm to conduct a thorough analysis to make sure none of the data was compromised.

The watchdog’s report has already been circulated to the SEC’s five commissioners, as well as to key lawmakers on Capitol Hill, and is expected to be made public soon.

SEC spokesman John Nester declined to comment on the report’s findings.

SEC NOTIFIED EXCHANGES

Rich Adamonis, a spokesman for the New York Stock Exchange, said the exchange operator is “disappointed” with the SEC’s lapse.

“From the moment we were informed, we have been actively seeking clarity from the SEC to understand the full extent of the use of improperly secured devices and the information involved, as well as the actions taken by the SEC to ensure that there is proper remediation and a complete audit trail for the information,” he said.

A spokesman for Nasdaq OMX declined to comment on the security lapse at the SEC.

Since the internal investigation was concluded, the SEC initiated disciplinary actions against the people involved, one of the people familiar with the matter said.

The SEC also notified all of the exchanges about the incident.

The SEC’s Trading and Markets Division, which has several hundred staffers, is primarily responsible for overseeing the U.S. equity markets, ensuring compliance with rules and writing regulations for exchanges and brokerages.

Among the division’s tasks is to ensure exchanges are following a series of voluntary guidelines known as “Automation Review Policies,” or ARPs. These policies call for exchanges to establish programs concerning computer audits, security and capacity. They are, in essence, a road map of the capital markets’ infrastructure.

Although they are only voluntary guidelines, exchanges take them seriously.

Under the ARP, exchanges must provide highly secure information to the SEC such as architectural maps, systems recovery and business continuity planning details in the event of a disaster or other major event.

That is the same kind of data used by exchanges last week after Hurricane Sandy forced U.S. equities markets to shut down for two days.

Prior to re-opening, all of the U.S. stock market operators took part in coordinated testing for trading on NYSE’s backup system.

SEC Chairman Mary Schapiro recently said the SEC is working to convert the voluntary ARP guidelines into enforceable rules after a software error at Knight Capital Group nearly bankrupt the brokerage and led to a $ 440 million trading loss.

(Reporting by Sarah N. Lynch; Editing by Karey Wutkowski and Lisa Shumaker)

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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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How South Korea’s Dark Oscar Entry ‘Pieta’ Cut Out Producers, Investors

LOS ANGELES (TheWrap.com) – By his 15th film, Kim Ki-duk, the director of South Korea‘s Best Foreign Picture Oscar entry “Pieta,” was sick of money shaping his cinematic vision.

The director, who told an audience at the Landmark Theatre that he tries in his movies to ruthlessly dissect society with all its nuances and complexities, said he didn’t want Hollywood-type producers and investors telling him how to fashion his films.

“It’s very formulaic. Film dramas, action movies – the structure is very simple, in the end, good prevails over evil,” Kim told TheWrap‘s Steve Pond at the kickoff of TheWrap’s Foreign Screening Series Monday night. “I consciously have tried to get out of the major system. … Once I had money, after that I used my own money.

“I don’t want to have producers or investors tell me what to do,” he added. “I want to maintain the same autonomy.”

“Pieta” follows a local money lender‘s thuggish enforcer, whose life changes when a woman arrives claiming to be his mother. Notorious in his impoverished neighborhood for crippling shop-owners who are unable to pay back their debt and interest on time, Lee Kang-do soon loses his hard exterior as he experiences maternal coddling for the first time.

Before the projector started rolling, Pond – at Kim’s behest – warned the audience that the first 20 minutes would contain violence that may be difficult to stomach. Indeed, it was easy to see how Kim’s producers might try to dilute the disturbing images and scenes he shoots.

The film, Kim told the audience through a translator, cost $ 100,000 to make. It earned $ 1 million in Korea alone.

“I’m going to distribute half of that to my staff members,” he said. “And half will go to the next film.”

Kim, who began his career as a screenwriter and studied art for three years in Paris, sees himself as an everyman director, more interested in cinema than profits.

“Pieta” reflects the changing culture of his native land and the economic woes the global recession brought on Korea’s poor. In the film, high-rises sprout from one side of the city – the sort of neighborhood parodied in Psy’s “Gangnam Style” music video – the other is still congested with trash and small shacks.

He explained that in Korea’s capital of Seoul, Gangnam means “south of the river.” North of it, where the working-class lives, is Gang-buk.

“That’s where working-class, people like me, regular people, live,” he said. “There are two lifestyles and classes.”

Kim said his next movie will similarly critique 21st century life – with its speedy pace and rapid international trading – which he described as “cannibalistic.”

“My next film is again my question about, what is modern society?” he said. “I believe that modern society is some sort of cannibalistic society. Through money, money forms this huge structure.”

He said his future movies, like the past 18 he has made, will likely feature strong female characters, too.

“Korean women suffered a lot. It’s a long history of suffering,” Kim said. “Korean women are known for having very, very intense energy and warm motherly love. However their status and their images are not really intact. They’ve been harmed; they’ve been abused a lot.”

“Pieta” certainly doesn’t pull punches – the film features a rape scene, and numerous women are left weeping over their sons or husbands when Kang-do shatters their bodies.

“The images you see in my films, they make you uncomfortable, they’re violent, but that’s the reality,” he said.

But those images, he said, will almost certainly make his movie a longshot to land an Oscar nomination, something no Korean film has ever done. “If you look at the films that win, they are the ones that make you feel good,” he said. “My films are not like that.”

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Home repossessions ‘fall further’

8 November 2012 Last updated at 05:46 ET

The number of homes being repossessed has fallen to a five-year low, according to mortgage lenders.

The Council of Mortgage Lenders (CML) said there were 8,200 repossessions in the third quarter of 2012, the lowest quarterly number since 2007.

The figure was down from 8,500 in the second quarter of this year, and lower than the 9,600 repossessions recorded in the same period a year ago.

The CML said the number of borrowers in arrears was stable, at 159,100.

“Our figures show that good communication and effective arrears management by borrowers, lenders and money advisers are helping the vast majority of those with mortgage repayment problems,” said the CML’s director general, Paul Smee.

“The rate of repossession has continued to fall and it’s clear that lenders want to keep people in their homes.”

Downward trend

Last year, the CML forecast that 45,000 homes would be seized this year by mortgage lenders who had run out of patience with borrowers who were unable to repay their home loans.

However, only 26,300 properties have been repossessed in the first nine months of this year, 8% fewer than at the same stage of 2011.

The economy has been in recession for much of the past four years, with unemployment rising to its current level of just under 8%, but a number of factors have kept repossessions down.

Among them have been the record low level of interest rates that borrowers have to pay, as a result of the Bank of England’s decision to slash the bank rate to its historically low level of just 0.5%.

Lenders have been under pressure not to repossess properties unless it is genuinely a last resort; they also have to jump through many hoops to successfully obtain court permission to seize a borrower’s home.

Court actions fall

Unless there is a dramatic reversal of the current downward trend, which has been in place since the recent peak of repossessions in 2009, then repossessions for the whole of 2012 are likely to be about 35,000.

That would be lower than in any year since 2007, which was just before the onset of the international banking crisis and credit crunch.

That year, there were 25,000 repossessions in the UK.

A good indication that repossessions will keep on dropping gently comes from separate statistics published by the Ministry of Justice.

They show that the number of repossession actions started in the courts in England and Wales also fell again in the third quarter of the year.

There were 14,168 such claims started by lenders, which was slightly lower than in the second quarter and a continuation of the general downward trend in these numbers since the first half of 2008.

Court actions for repossession are now running at roughly half the level recorded four years ago.

Mark Harris, of mortgage broker SPF Private Clients, said: “While interest rates are expected to remain at 0.5% for the foreseeable future, some borrowers are still struggling to afford their mortgage, as living costs continue to rise and many lose their jobs.”

‘Lenders must continue to show forbearance and look after customers who are struggling by letting them switch to interest only, take payment holidays or extend their mortgage terms.”

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Massachusetts pharmacy board head fired after meningitis outbreak

BOSTON (Reuters) – Authorities fired the director of the Massachusetts Board of Pharmacy after he failed to investigate a complaint against New England Compounding Center, the company at the center of a deadly U.S. meningitis outbreak, state officials said on Wednesday.

NECC is linked to a meningitis outbreak that has infected more than 400 people and caused 31 deaths.

Massachusetts officials said they uncovered a complaint against NECC by Colorado pharmacy regulators just months before the outbreak. The complaint, which said NECC was distributing drugs without patient-specific prescriptions, was forwarded on July 26 to James Coffey, director of the Massachusetts pharmacy board.

Coffey failed to order an investigation or take any other action on the Colorado complaint, the Massachusetts Department of Public Health‘s interim commissioner, Dr. Lauren Smith, said in a statement.

In the years before the outbreak, NECC escaped harsh punishment from the Massachusetts pharmacy board, raising questions about oversight of the customized drug mixing industry, state records released last month show.

Smith said Coffey has been terminated and the pharmacy board’s counsel, Susan Manning, has been placed on administrative leave pending the final conclusions of the investigation.

“It is incomprehensible that Mr. Coffey and Ms. Manning did not act on the Colorado complaint given NECC’s past, and their responsibility to investigate complaints,” Smith said in a statement. “Following the outbreak, staff also failed to disclose the existence of Colorado’s complaint to leadership at” the Department of Public Health.

Coffey was not immediately available for comment.

The Colorado State Board of Pharmacy shared information that showed NECC had distributed many drugs to many hospitals in Colorado between 2010 and 2012, but without patient-specific prescriptions. That was a violation of NECC’s Colorado and Massachusetts licenses, according to Smith’s statement. NECC was not immediately available for comment.

In 2011, during a routine inspection, Colorado inspectors found that NECC had participated in the unregistered/unlicensed distribution of prescription drugs in Colorado. As a result, Colorado issued a cease-and-desist order against NECC in April 2011.

“I find the actions of NECC reprehensible,” Smith said in the statement. “We have the right to expect that all companies producing medication for use in delivering health care to comply with laws designed to protect patient safety. But I also expect the staff charged with oversight to perform their duties to the highest standards. That failed to happen here.”

(Reporting by Tim McLaughlin; Editing by Gary Hill and Leslie Adler)

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BlackBerry 10 maker dismisses ‘dead on arrival’ comment about new device

OTTAWA – Research In Motion turned to core supporters Wednesday in Ottawa, hoping to upsell its new BlackBerry 10 operating system as the company’s shares fell after a biting report from a securities analyst.

The company (TSX:RIM) invited federal politicians and their staff to a sneak preview of the yet-to-be-released devices, an event that RIM’s Canadian managing director acknowledged was a bit like preaching to the converted.

“Government is a critical constituency for RIM and for BlackBerry,” said Andrew MacLeod.

“It’s where we got our start, in many ways, and it’s an area that we are going to continue to innovate and deliver value.”

RIM shares fell by more than eight per cent Wednesday to $ 8.23 after a report from an analyst at Pacific Crest Securities warned the BlackBerry 10 software may be “dead on arrival.”

“We believe BB10 is likely to be DOA,” James Faucette was quoted saying in a research note obtained by Bloomberg. “We expect the new operating system to be met with a lukewarm response at best.”

MacLeod dismissed Faucette as “not a fan” and as just one voice in a varied landscape of people looking at the new platform.

“Two other analysts came out this week with some very, very positive reactions to the platform and some positive reactions to our prospects,” MacLeod told The Canadian Press.

“We’re focused on delivering value and innovating, and we think if we do that, then we’ll get the rest of the stuff to follow.”

The Waterloo, Ont.-based company’s stock had been on a rally of late, lifting steadily in the past week to a four-month high. Wednesday’s tumble nearly wiped out all of those gains.

Besides showcasing the BB10 for politicos and business people, RIM was planning to announce Thursday how it would migrate some of the key security features of its current suite of devices to the new model.

“We’re really going to make sure the core DNA — what made Blackberry so attractive to government customers, to enterprise customers — will of course be a key part of the BlackBerry 10 and architecture and system moving forward,” said MacLeod.

Meanwhile, the company said it had won U.S. security clearance for devices based on the new platform.

RIM announced early Thursday that it had received the crucial Federal Information Processing Standard certification, known as FIPS 140-2.

The certification would enable government agencies to deploy the new devices.

“This is the first time BlackBerry products have been FIPS certified ahead of launch,” RIM said.

Many political staffers, journalists and others swear by the BlackBerry over other devices for one main reason —its keyboard, which can make writing on the fly fast and easy compared with the touch screens offered by RIM’s competitors.

The BB10 line will include a touch screen option, but RIM maintains that its operating system will make typing faster than on other smart phones.

The company said earlier this month that its new BlackBerry smartphones were being tested by 50 phone carriers around the world.

RIM aims to have the new devices on store shelves in the first quarter of 2013, after the crucial holiday tech sales season.

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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.

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TV networks to staff: watch what you tweet on Election Day

LOS ANGELES (Reuters) – U.S. television networks face a new challenge in covering this year’s excruciatingly close presidential election: prevent closely guarded exit poll results from leaking onto Twitter, Facebook and other social media platforms.

The major TV news networks agreed to shield early exit poll data suggesting who is leading in a state until the state’s polls close. That means no tweeting exit polls, posting on Facebook, or re-tweeting figures reported by others.

“We will not either project or characterize a race until all the polls are scheduled to have closed in that state,” said Sheldon Gawiser, director of elections for NBC News.

Election officials worry that leaks could discourage people from voting if they think the race in their state is already decided, depressing the vote count and distorting the results. In 1985, Congress extracted a promise from the major TV networks to refrain from using exit polls to project a winner in a particular state, or to characterize who is leading, while voting continues in that area.

The closeness of this year’s election between President Barack Obama and Republican challenger Mitt Romney has focused attention on key battleground states – such as Ohio, Virginia and Florida – and what their exit polls might signal about who will win the White House.

It has resurrected memories of the disputed 2000 election between Republican George W. Bush and Democrat Al Gore – some media outlets projected a Gore victory in Florida while polls in the western part of the state remained open. The networks later pulled back, leaving doubt about who won and leading to a month of recounts and court battles.

If early results become public, “it can be a real problem,” said Jeff Berkowitz, a Republican strategist who runs Berkowitz Public Affairs. “For somebody who’s got seven things on their list to do that day, and if they’re already being told the election is over, are they really going to prioritize voting over the other six?”

Exit poll data is collected by New Jersey-based Edison Media Research on behalf of the National Election Pool, a consortium of Walt Disney Co’s ABC, News Corp’s Fox, Time Warner Inc’s CNN, Comcast Corp’s NBC, CBS Corp’s CBS and the Associated Press. The media companies use the findings to help them call results in each state, and to inform post-election analysis.

Reuters is not a member of the consortium and collects exit data with market research firm Ipsos. The news organization will not share any exit data before polls close, a Thomson Reuters Corp spokeswoman said.

Smaller news outlets and Internet blogs are not bound by the commitment made by members of the National Election Pool, and could post any exit poll numbers they get their hands on.

In 2004, for example, The Drudge Report posted early results that favored John Kerry. U.S. stocks dipped, and Kerry eventually lost the race, highlighting that early and incomplete results can prove wrong. A representative for The Drudge Report could not immediately be reached by e-mail.

There is no evidence that exit poll results influence voters, but the rise of social media means any leaked data could spread like wildfire.

After leaks in past elections, the big TV networks have taken steps to keep a tighter lid on information. While some findings previously were available as early as 1 p.m. Eastern time, news staff are not to be given an initial look until 5 p.m. – still two hours before the earliest poll closings.

Following a template used in the last three elections, six analysts – one from each news organization in the National Election Pool – will be locked in a “quarantine room” from 11 a.m. to 5 p.m. Eastern time on Tuesday with no phone or e-mail access, Gawiser said. They will conduct preliminary analysis of the data before it is released to staff at the news outlets.

“They cannot talk to us. We don’t know anything about it. We can’t see any of these data until five o’clock,” Gawiser said.

These kinds of restrictions helped keep exit data under wraps in 2008, when Obama defeated John McCain. The race also was not as close as in the two previous elections, or indeed this year’s vote, reducing demand for early information.

This year, the tight race and prevalence of social media increases the risk that data will spread quickly if it leaks, said Tom Rosenstiel, director of the Pew Research Center’s Project for Excellence in Journalism.

“If that were to happen today, with Internet penetration and the speed of social media, that (data) would be known pretty widely,” he said.

(Reporting By Lisa Richwine; Editing by Ronald Grover and Steve Orlofsky)

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Ahead of the Bell: US Consumer Credit

WASHINGTON (AP) — Americans felt more confident about the economy in September and likely stepped up borrowing.

Economists forecast consumer borrowing rose by $ 10.3 billion in September from August, according to a survey by FactSet. The Federal Reserve will release the report at 3 p.m. EST Wednesday.

In August, consumers increased their borrowing by $ 18.1 billion. It was the largest increase in three months. Americans borrowed more in all major categories.

The increase brought total consumer debt to $ 2.73 trillion, or 5.5 percent above a recent peak reached in July 2008. The figure excludes mortgages and other housing-related debt.

Consumer confidence has jumped to the highest levels in nearly five years, surveys have shown. And Americans increased their spending in September at twice the rate that their income grew, suggesting they may have borrowed more money to make up the difference.

Still, consumers have been using credit cards much less since the 2008 credit crisis. Four years ago, Americans had $ 1.03 trillion in credit card debt, an all-time high. In August, that figure was 17 percent lower.

During the same period, student loan debt has increased dramatically. The category that includes auto and student loans is 20.3 percent higher than in July 2008.

In the April-June quarter, student loans totaled $ 914 billion, according to a report from the Federal Reserve Bank of New York. That is nearly 50 percent higher than the July-September quarter of 2008.

Much of the increase in student loans is because of high unemployment, which has led many Americans to go back to school.

Overall, Americans’ finances have been improving. Low interest rates are also helping. The percentage of after-tax incomes that Americans are using to pay interest on all debt, including mortgages, fell to 10.7 percent in the second quarter. That’s down from 14 percent at the end of 2007, when the recession began.

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Election over but final Florida results still not in

MIAMI (Reuters) – Americans gave President Barack Obama a second term in office, but it still wasn’t clear early on Wednesday whether the president won the key battleground state of Florida.

The vote in the state, which introduced the terms “hanging chads” and “butterfly ballots” to the masses in its historic 2000 presidential election, was too close to call long after Republican challenger Mitt Romney conceded his loss.

Early Wednesday morning Obama was edging out Romney by about 45,000 votes, or 0.53 percentage points, out of a total of 8.27 million votes cast in Florida, with about 99 percent of the votes counted.

“It’s 1:42 in the morning and I just heard there are still people voting in Miami-Dade County,” tweeted Chris Cate, spokesman for Florida‘s Secretary of State, who is responsible for elections. “Kudos to their commitment to voting!”

The head of elections for Florida‘s Miami-Dade County, which accounts for about 10 percent of the state’s 12 million registered voters, said final results would not be available until Wednesday afternoon.

Until then, it may not be totally clear whether Obama won the state, which he carried in 2008.

At one church in Miami hundreds of voters were still in line when polls were due to close at 7 p.m.

“I believe that Obama is doing a good job and he’s going to do a better job,” said Michele Adriaanse, 59, who arrived to vote at 6.30 p.m. and finally cast her ballot shortly before midnight. “If we don’t give him the chance, things will go back to how they were,” she added.

Miami-Dade Supervisor of Elections Penelope Townsley told reporters the delay was due to “an extremely high volume of absentee ballots” and because long lines forced some precincts to remain open hours after their official closing time.

Florida accounts for 29 of the 270 votes in the electoral college a candidate needs to win the presidency. That is more than any other swing state, and by many accounts the fourth-largest state was a must-win for Romney.

Most recent polls had given Romney an edge over the incumbent in Florida, where the economic recovery has been slower than in other states and long-term unemployment has reached record highs.

But registered Democrats outnumber registered Republicans in Florida by about 5 percentage points and Romney faced multiple headwinds in the state.

A plan by Romney’s vice presidential running mate, U.S. Representative Paul Ryan, to change the Medicare health insurance program for seniors was among the factors often cited as holding back Romney’s campaign in the retiree-heavy state.

He also suffered from an inability to make inroads among Hispanic voters, outside of the state’s conservative Cuban-American community.

Florida propelled former President George W. Bush to a wafer-thin victory in 2000 when he won the state by 537 votes.

SLOW-GOING

Complaints about voting procedures, long lines to cast ballots, restrictions on early voting and some possible irregularities have been heard repeatedly across Florida. There have been no claims of anything widespread or problematic enough to cast doubt on the credibility of the Florida outcome.

It also was not immediately whether U.S. Representative Allen West – the firebrand Republican lawmaker known for his blistering attacks on Obama and other Democrats – had won one of the country’s most closely watched congressional races.

West, a darling of the conservative Tea Party movement, had amassed one of the largest campaign war chests among House Republicans. His known supporters included organizations like Americans for Prosperity, the conservative political advocacy group funded by the billionaire Koch brothers.

But he faced a tough re-election challenge against Democrat Patrick Murphy, who had hammered the first-term Republican for the intransigence that led to gridlock in Washington.

Early Wednesday morning, West, 51, was trailing by 2,000 votes out of the 318,000 ballots cast.

Murphy, a 29-year-old businessman and political newcomer, had strong backing from party headquarters and was one of the best-funded Democratic challengers in the country.

A certified public accountant whose father runs a construction company in Miami, Murphy turned the race into a referendum on West, calling the Republican an extremist member of a “do-nothing” Congress.

The battle in Florida‘s new 18th district was seen as a test of whether a high-profile – some say polarizing – conservative could win one of the biggest swing districts in a perennial swing state.

(Reporting by Tom Brown; Additional reporting by David Adams; Editing by Paul Simao)

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Move over, Obama; Twitter had a big night too

WASHINGTON (Reuters) – President Barack Obama called it – in less than 140 characters.

Around 11:15 pm EST, just as the networks were beginning to call the race in his favor, Obama took to Twitter to proclaim himself the winner over Republican candidate Mitt Romney.

“This happened because of you. Thank you,” Obama tweeted.

That the president would take his message to Twitter before taking the stage in Chicago underscored the tremendous role social media platforms like Twitter played in the 2012 election.

Minutes later, with the race called in his favor, Obama tweeted again.

“We’re all in this together. That’s how we campaigned, and that’s who we are. Thank you. -bo.”

Through the course of a long and bitter presidential campaign, Twitter often served as the new first rough draft of history.

Top campaign aides used the Internet tool to snipe at each other, the candidates used it to get out their messages and political reporters used it to inform and entertain.

On Election Night, the tweets were flowing.

By 10 p.m. EST, with the race still up for grabs, Twitter announced it had broken records.

There were more than 31 million election-related tweets on Tuesday night, making Election Night “the most tweeted about event in U.S. political history,” said Twitter spokeswoman Rachael Horwitz. Between 6 p.m. and midnight EST, there were more than 23 million tweets.

Horwitz noted the previous record was 10 million, during the first presidential debate on October 3.

“Twitter brought people closer to almost every aspect of the election this year,” Horwitz said. “From breaking news, to sharing the experience of watching the debates, to interacting directly with the candidates, Twitter became a kind of nationwide caucus.”

In the moments following Obama’s win, Twitter was in a frenzy, with a peak of 327,000 tweets a minute.

Another tweet from Obama, one that read: “Four more years” and showed a picture of him hugging his wife, became the most retweeted tweet in the history of the site.

‘FIRST TWITTER ELECTION’

Love it or hate it, Twitter and its role in politics appears to be here to stay.

For Rob Johnson, campaign manager for Texas Republican Governor Rick Perry’s failed presidential run, Twitter “changed the dynamic this cycle and will continue to play a bigger role in years to come.”

“We no longer click refresh on websites or wait for the paper boy to throw the news on our porch,” Johnson said. “We go to Twitter and learn the facts before others read it.”

The 2012 race was the first where Twitter played such an important role. Top campaign advisers like Romney’s Eric Fehrnstrom and Obama’s David Axelrod engaged in Twitter battles through the year.

With many political reporters and campaign staff on Twitter and Facebook, social media websites were often the first place news broke. Some top news stories were kept alive or thrust into the headlines after becoming hot topics on Twitter.

“It was one heckuva echo chamber,” Dante Scala, a political science professor at the University of New Hampshire, said in an email.

Johnson said Twitter was the driving force behind some of the year’s biggest political news stories.

“The twitterverse shapes the news and public opinion,” Johnson said. “The Internet is truly a real and powerful tool in politics.”

In future elections, candidates and their campaign staffs will have to include social media as another battleground, Democratic strategist Jamal Simmons said.

“This was the first Twitter election and social media is now fully a part of our election mechanics,” Simmons said. “Going forward candidates must have an aggressive social media strategy if they want to win.”

(Editing by Mary Milliken and Peter Cooney)

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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)

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Aerosmith puts on Boston street concert on Memory Lane

BOSTON (Reuters) – Thousands of music fans clogged a Boston street on Monday to hear Grammy award-winning rock band Aerosmith perform a free concert in front of the apartment building where the musicians began their career four decades ago.

The band blared out hits including “Walk This Way” and “Sweet Emotion” from the back of a specially converted tractor-trailer while area residents hung out windows, sat on balconies and stood on rooftops to hear the noontime concert.

“It feels like the world stood still for this. It feels like it was yesterday,” lead singer Steven Tyler told Reuters in an interview after the concert.

The band played to mark the release of its 15th studio album, “Music from Another Dimension,” due out on Tuesday.

Aerosmith’s five members signed a plaque that Boston plans to mount outside the apartment building in the Allston neighborhood where they lived in the early days of a career that has brought them four Grammy awards and more than 20 Top 40 hits.

“That used to be my bedroom,” lead guitarist Joe Perry yelled to a woman looking out a second-story window.

The crowd of thousands included teenagers holding signs declaring that they had skipped school to see the show, celebrities such as New England Patriots quarterback Tom Brady and fans whose history with the band went back to its 1970 founding.

“I always loved Aerosmith. They were one of the first rock bands I got into growing up in Brazil,” said Michelle Fernandes, 43, waiting for the concert to start.

When she moved to the United States in 2003, Fernandes was surprised to learn that she was working in an office down the street from where her favorite band got its start, Fernandes said.

“How cool is that?” she said.

The band has always kept up its ties to a city that is home to hundreds of thousands of college students.

“When there’s groups of young people like there are in colleges towns like this, there’s a lot of passion,” Tyler said. “We love that.”

While the band relished the chance to see its old neighborhood, Perry declined to go into the apartment, where the band wrote songs including “Movin’ Out.”

“I didn’t want to go into it to see what it looked like today because I like the memory of what it was when we were there,” Perry told Reuters. “I didn’t want to see it all polished and spiffed up.”

On Thursday Aerosmith resumes its tour with a show in Oklahoma City.

(Reporting By Scott Malone; Editing by Cynthia Johnston and Bill Trott)

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A Write-Off That Shows Tax Reform Will Be No Game

Theodore Jones has had season tickets on the 43-yard line at Tiger Stadium, home of the perennial football powerhouse Louisiana State University, for almost 20 years. The seats, along with two others, cost him $ 5,340. That’s $ 1,640 for the tickets’ face value, plus $ 3,700 in mandatory donations that Jones gets to write off. The Baton Rouge lawyer lobbied Congress for that tax break back in 1986. It now benefits thousands of sports fans, and based on data compiled by Bloomberg, costs the U.S. Treasury more than $ 100 million a year.

Mitt Romney and congressional Republicans say they’ll slash many deductions to broaden the tax base and help fund a 20 percent tax cut across the board. The problem is, there are hundreds of write-offs and each has a rabid fan base. The ticket deduction would be tough to jettison because it’s “often associated with state institutions,” says Marcus Owens, a former head of the Internal Revenue Service’s Exempt Organizations division. “In a lot of states, a significant percentage of the adult population went to some state institution, has an allegiance to the athletic teams, and represents a considerable voting bloc.”

For sports that draw big crowds, colleges typically assign a face value to a ticket and then demand a donation as a condition of sale. Fans wrote off that donation for years. But in 1986 the IRS ruled that the ticket premiums weren’t deductible. During that year’s debate over tax reform, LSU’s then-athletic director asked Jones, a lobbyist for the state of Louisiana, to fight to preserve the exemption. He approached the late Louisiana Senator Russell Long, who crafted an amendment with the late Texas Representative J.J. Pickle that allowed ticket buyers at LSU and the University of Texas at Austin to write off 100 percent of their donations. In 1988, Congress made all public and private colleges eligible for the break but reduced the deductible amount of the donation to 80 percent. The Joint Committee on Taxation estimated the same year that the write-off would cost the Treasury less than $ 500,000 a year.

While there’s no national tally of how many schools are benefiting from the break or the exact amount it costs taxpayers, Bloomberg assembled a snapshot of the data through public records from 54 state universities in six of the largest football conferences. The 34 that track ticket donations received a total of $ 467.2 million for the 2010-11 fiscal year. As much as $ 373.7 million of that is deductible. Based on a 28 percent individual tax rate, that would cut federal revenue by $ 104.6 million. (The universities surveyed don’t break out corporate purchases.)

The actual loss may be much greater. Andrew Zimbalist, an economist at Smith College who’s written 12 books on the business of sports, says, based on Bloomberg’s sampling, sports fans could well be paying colleges $ 1 billion a year in tax-deductible ticket donations.

Colleges have come to rely on the money to prop up teams that don’t make any revenue and to fund student-athlete scholarships. “Those kinds of deductions are like fertilizer to a farmer. They increase the yield,” Jones says, paraphrasing a line Long used when President Jimmy Carter wanted to cut the business write-off for the three-martini lunch. Over the years, Zimbalist says, the IRS has attacked various tax breaks for universities until it’s gone “blue in the face” and has “basically succumbed” to Congress’s unwillingness to budge.

LSU is counting on Congress to continue to stand firm. It’s doubling the number of luxury boxes and premium club seats at its 92,542-seat stadium. That’ll enable the school to increase revenue from seat donations by as much as $ 15 million, according to R.G. Richard, who heads LSU’s booster organization. Even after the expansion, there’ll be a waiting list of 1,600 fans ready to empty their pockets for season tickets—and take advantage of the perk that goes with them, as long as it’s available.

The Football-Ticket Tax Break

• College teams can require a donation for tickets, on top of the official price.
 
• At LSU, donations range from $ 210 to $ 3,000 per football ticket.
 
• Schools use the cash to support teams that don’t make money and for scholarships.
 
• There’s a perk for ticket buyers. They can write off 80 percent of their donation.
 
• For the U.S. Treasury, all this means a loss. In fiscal 2010-2011 it was more than $ 100 million.

The bottom line: A tax break for people who buy college sports tickets costs the federal government more than $ 100 million a year.

Businessweek.com — Top News

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Chinese women’s rights activist sent to labor camp again

BEIJING (Reuters) – A Chinese woman who has campaigned against the strict one-child policy has been sent to labor camp for one and a half years, the third time she has been detained for criticizing the government, her husband said on Tuesday.

Mao Hengfeng, who lives in Shanghai, was seized in Beijing by a team of security officials on September 20 when she was petitioning the authorities for the rights abuses she suffered during her previous labor camp sentences, her husband, Wu Xuewei, told Reuters.

Mao’s sentence comes as authorities round up dissidents ahead of the ruling Communist Party‘s all-important congress, which starts on Thursday and will usher in a generational leadership change.

Wu said he received a letter from the authorities late on Monday informing him that Mao had been sentenced to a labor camp for “disturbing social order”, which he said was unfounded.

“She is not guilty and she didn’t break any laws,” Wu said. “They are fabricating offences, making up evidence to lock up people who did not commit crimes in prisons and labor camps.”

Wu said he has no idea about Mao’s whereabouts. She was last known to be held at the Yangpu district police detention centre in Shanghai. Calls to the centre went unanswered.

China’s stability-obsessed rulers are taking no chances to ensure an image of harmony as President Hu Jintao prepares to transfer power as party leader to anointed successor Vice President Xi Jinping.

Mao, who has three daughters, has been petitioning the government since she was dismissed in 1988 from her job at a soap factory after becoming pregnant a second time, in contravention of the one-child policy.

While calls to scrap the policy have grown louder amid an ageing population, China has been cautious about dropping a scheme implemented to spare the country the pressures of feeding and clothing millions of additional people.

One of China’s most famous dissidents, the blind legal activist Chen Guangcheng, has focused on campaigning against forced abortions connected with the policy.

Mao, 50, was sentenced in February 2011 to a labor camp for conducting “illegal activities”. In 2010, she was sentenced to one and a half years of “re-education through labor” on charges of “disturbing the public order” for a protest at the trial of jailed 2010 Nobel Laureate Liu Xiaobo.

Then, she was released six months early from a labor camp in Anhui province because of poor health, Wu said, adding that he is worried about Mao because of her high blood pressure.

(Editing by Ben Blanchard)

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Ericsson eyes steady growth despite global downturn

STOCKHOLM (Reuters) – Telecoms gear maker Ericsson expects slower expansion in the more profitable services segment of its business and the same level of growth in its core mobile network equipment market, it said on Tuesday.

Competition and increased product commoditization have pressured prices in the industry for years. Europe’s debt crisis and weaker global growth squeezed vendors further.

The result is that Ericsson has seen profitable network sales slipping while it has gained from telecoms carriers outsourcing many of their operations, boosting sales of services like network management.

“This development will naturally imply a future business mix for Ericsson with more recurring software and services revenues,” CEO Hans Vestberg said in a statement.

“However, hardware will always be part of the mix and a key differentiator for Ericsson.”

Ericsson said it expected the market for telecoms equipment to show compound annual growth of 3-5 percent over the 2012-2015 period, the same as its previous forecast for 2010-2013.

The company, the world’s biggest supplier of mobile network infrastructure, said it expected growth of 4-6 percent in key segments of the overall market, but saw a slightly slower expansion in services compared to recent years.

Services have grown rapidly in recent years and hit 45 percent of group sales in the third quarter.

In the third quarter, Ericsson’s core profit fell 42 percent due to slower orders and a shift in business mix to less profitable contracts.

The company repeated that it expected this mix to continue over the next 3 to 4 quarters.

Rivals have also been suffering. Alcatel-Lucent said it may sell assets to strengthen its balance sheet after posting a second straight quarterly loss.

(Reporting by Niklas Pollard; editing by Patrick Lannin)

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