Protests Erupt After Egypt’s Leader Seizes New Power

Tara Todras-Whitehill for The New York Times

Egyptians in central Cairo ran from tear gas during clashes with the police on Friday. Protesters took to the streets in several cities. More Photos »

CAIRO — Protests erupted across Egypt on Friday, as opponents of President Mohamed Morsi clashed with his supporters over a presidential edict that gave him unchecked authority and polarized an already divided nation while raising a specter, the president’s critics charged, of a return to autocracy.  

In an echo of the uprising 22 months ago, thousands of protesters chanted for the downfall of Mr. Morsi’s government in Cairo, while others ransacked the offices of the president’s former party in Suez, Alexandria and other cities.

Mr. Morsi spoke to his supporters in front of the presidential palace here, imploring the public to trust his intentions as he cast himself as a protector of the revolution and a fledgling democracy.

In a speech that was by turns defensive and conciliatory, he ultimately gave no ground to the critics who now were describing him as a pharaoh, in another echo of the insult once reserved for the deposed president, Hosni Mubarak.

“God’s will and elections made me the captain of this ship,” Mr. Morsi said.

The battles that raged on Friday — over power, legitimacy and the mantle of the revolution — posed a sharp challenge not only to Mr. Morsi but also to his opponents, members of secular, leftist and liberal groups whose crippling divisions have stifled their agenda and left them unable to confront the more popular Islamist movement led by the Muslim Brotherhood.

The crisis over his power grab came just days after the Islamist leader won international praise for his pragmatism, including from the United States, for brokering a cease-fire between Hamas and Israel.

On Friday, the State Department expressed muted concern over Mr. Morsi’s decision. “One of the aspirations of the revolution was to ensure that power would not be overly concentrated in the hands of any one person or institution,” said the State Department spokeswoman, Victoria Nuland.

She said, “The current constitutional vacuum in Egypt can only be resolved by the adoption of a constitution that includes checks and balances, and respects fundamental freedoms, individual rights and the rule of law consistent with Egypt’s international commitments.”

But the White House was notably silent after it had earlier this week extolled the emerging relationship between President Obama and Mr. Morsi and credited a series of telephone calls between the two men with helping to mediate the cease-fire in Gaza.

For Mr. Morsi, who seemed to be saying to the nation that it needed to surrender the last checks on his power in order to save democracy from Mubarak-era judges, the challenge was to convince Egyptians that the ends justified his means.

But even as he tried, thousands of protesters marched to condemn his decision. Clashes broke out between the president’s supporters and his critics, and near Tahrir Square, the riot police fired tear gas and bird shot as protesters hurled stones and set fires.

Since Thursday, when Mr. Morsi issued the decree, the president and his supporters have argued that he acted precisely to gain the power to address the complaints of his critics, including the families of protesters killed during the uprising and its aftermath.

By placing his decisions above judicial review, the decree enabled him to replace a public prosecutor who had failed to win convictions against senior officers implicated in the killings of protesters.

The president and his supporters also argued that the decree insulated the Constituent Assembly, which is drafting the constitution, from meddling by Mubarak-era judges.

Since Mr. Mubarak’s ouster, courts have dissolved Parliament, kept a Mubarak loyalist as top prosecutor and disbanded the first Assembly.

But by ending legal appeals, the decree also removed a safety valve for critics who say the Islamist majority is dominating the drafting of the constitution.

Mayy El Sheikh contributed reporting from Cairo, and Helene Cooper from Washington.

Read More..

Secret message found with carrier pigeon may never be deciphered

British man finds carrier pigeon skeleton in his fireplace with unbreakable secret code (Reuters)

Before military forces had secure cell phones and satellite communications, they used carrier pigeons. The highly trained birds delivered sensitive information from one location to another during  World War II. Often, the birds found the intended recipient. But not always.

A dead pigeon was recently discovered inside a chimney in Surrey, England. There for roughly 70 years, the bird had a curious canister attached to its leg. Inside was a coded message that has stumped the experts.

The code features a series of 27 groups of five letters. According to Reuters, nobody from Britain’s Government Communications Headquarters has been able to decipher it. The message was sent by a Sgt. W. Scott to someone or something identified as “Xo2.”

A spokesperson remarked, “Although it is disappointing that we cannot yet read the message brought back by a brave carrier pigeon, it is a tribute to the skills of the wartime code-makers that, despite working under severe pressure, they devised a code that was indecipherable both then and now.”

The bird was discovered by a homeowner doing renovations earlier this month. In an interview with Reuters, David Martin remarked that bits of birds kept falling from the chimney. Eventually, Margin saw the red canister and speculated that it might contain a secret message. And it seems as if the message will always be secret.

Carrier pigeons played a vital role in wars due to their incredible homing skills. All told, U.K. forces used about 250,000 of the birds during World War II.

Wireless News Headlines – Yahoo! News

Read More..

Larry Hagman Dies

TV Watch

TV News

By Aaron Parsley

11/24/2012 at 12:00 AM EST

Larry Hagman has died.

The actor, who famously played J.R. Ewing on the hit primetime soap Dallas, was 81.

"When he passed, he was surrounded by loved ones," his family said in a statement released to the Dallas Morning News on Friday. "It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

"This is so sad. Larry was really someone who was loved by everyone," his agent Joel Dean tells PEOPLE. "Me especially. He was the most loving, wonderful, generous man. And he was a true trouper."

In late 2011, Hagman announced that he was battling cancer but he had also signed on to star in the TNT reboot of Dallas, which recently started filming its second season.

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in the statement.

In addition to portraying J.R. – a lovable, scheming, villainous oilman, whose shooting death was a topic of international water-cooler discussion – Hagman starred alongside Barbara Eden as Major Anthony Nelson in the iconic '60s hit sitcom I Dream of Jeannie.

According to the Morning News report, Hagman's Dallas costars Linda Gray and Patrick Duffy were by his side on Friday at Medical City Dallas Hospital when he died.

Read More..

Wall Street Week Ahead: Political wrangling to pinch market's nerves

NEW YORK (Reuters) - Volatility is the name of this game.

With the S&P 500 above 1,400 following five days of gains, traders will be hard pressed not to cash in on the advance at the first sign of trouble during negotiations over tax hikes and spending cuts that resume next week in Washington.

President Barack Obama and U.S. congressional leaders are expected to discuss ways to reduce the budget deficit and avoid the "fiscal cliff" of automatic tax increases and spending cuts in 2013 that could tip the economy into recession.

As politicians make their case, markets could react with wild swings.

The CBOE Volatility Index <.vix>, known as the VIX, Wall Street's favorite barometer of market anxiety that usually moves in an inverse relationship with the S&P 500, is in a long-term decline with its 200-day moving average at its lowest in five years. The VIX could spike if dealings in Washington begin to stall.

"If the fiscal cliff happens, a lot of major assets will be down on a short-term basis because of the fear factor and the chaos factor," said Yu-Dee Chang, chief trader and sole principal of ACE Investments in Virginia.

"So whatever you are in, you're going to lose some money unless you go long the VIX and short the market. The 'upside risk' there is some kind of grand bargain, and then the market goes crazy."

He set the chances of the economy going over the cliff at only about 5 percent.

Many in the market agree there will be some sort of agreement that will fuel a rally, but the road there will be full of political landmines as Democrats and Republicans dig in on positions defended during the recent election.

Liberals want tax increases on the wealthiest Americans while protecting progressive advances in healthcare, while conservatives make a case for deep cuts in programs for the poor and a widening of the tax base to raise revenues without lifting tax rates.

"Both parties will raise the stakes and the pressure on the opposing side, so the market is going to feel much more concerned," said Tim Leach, chief investment officer of U.S. Bank Wealth Management in San Francisco.

"The administration feels really confident at this point, or a little more than the Republican side of Congress may feel," he said. "But it's still a balanced-power Congress so neither side can feel that they can act with impunity."

THE MIDDLE EAST AND EUROPE

Tension in the Middle East and unresolved talks in Europe over aid for Greece could add to the uncertainty and volatility on Wall Street could surge, analysts say.

An Egypt-brokered ceasefire between Israel and Hamas came into force late on Wednesday after a week of conflict, but it was broken with the shooting of a Palestinian man by Israeli soldiers, according to Palestine's foreign minister.

Buoyed by accolades from around the world for mediating the truce, Egyptian President Mohamed Mursi assumed sweeping powers, angering his opponents and prompting violent clashes in central Cairo and other cities on Friday.

"Those kinds of potential large-scale conflicts can certainly overwhelm some of the fundamental data here at home," said U.S. Bank's Leach.

"We are trying to keep in mind the idea that there are a lot of factors that are probably going to contribute to higher volatility."

On a brighter note for markets, Greece's finance minister said the International Monetary Fund has relaxed its debt-cutting target for Greece and a gap of only $13 billion remains to be filled for a vital aid installment to be paid.

Still, a deal has not been struck, and Greece is increasingly frustrated at its lenders, still squabbling over a deal to unlock fresh aid even though Athens has pushed through unpopular austerity cuts.

HOUSING DATA COULD CONFIRM RECOVERY

Next week is heavy on economic data, especially on the housing front. Some of the numbers have been affected by Superstorm Sandy, which hit the U.S. East Coast more than three weeks ago, killing more than 100 people in the United States alone and leaving billions of dollars in damages.

The housing data, though, could continue to confirm a rebound in the sector that is seen as a necessary step to unlock spending and lower the stubbornly high unemployment rate.

Tuesday's S&P/Case-Shiller home price index for September is expected to show the eighth straight month of increases, extending the longest continuous string of gains since prices were boosted by a homebuyer tax credit in 2009 and 2010.

New home sales for October, due on Wednesday, and October pending home sales data, due on Thursday, are also expected to show a stronger housing market.

Other data highlights next week include durable goods orders for October and consumer confidence for November on Tuesday and the Chicago Purchasing Managers Index on Friday.

At Friday's close, the S&P 500 wrapped up its second-best week of the year with a 3.6 percent gain. Encouraging economic data next week could confirm that regardless of the ups and downs that the fiscal cliff could bring, the market's fundamentals are solid.

Jeff Morris, head of U.S. equities at Standard Life Investments in Boston, said that "it's kind of noise here" in terms of whether the market has spent "a few days up or down. It has made some solid gains over the course of the year as the housing recovery has come into view, and that's what's underpinning the market at these levels.

"I would caution against reading too much into the next few days."

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Editing by Tim Dobbyn and Jan Paschal)

Read More..

Military Analysis: For Israel, Gaza Conflict Is Test for an Iran Confrontation

Menahem Kahana/Agence France-Presse — Getty Images

An Israeli missile is launched from a battery. Officials said their antimissile system shot down 88 percent of all assigned targets.

WASHINGTON — The conflict that ended, for now, in a cease-fire between Hamas and Israel seemed like the latest episode in a periodic showdown. But there was a second, strategic agenda unfolding, according to American and Israeli officials: The exchange was something of a practice run for any future armed confrontation with Iran, featuring improved rockets that can reach Jerusalem and new antimissile systems to counter them.

It is Iran, of course, that most preoccupies Prime Minister Benjamin Netanyahu and President Obama. While disagreeing on tactics, both have made it clear that time is short, probably measured in months, to resolve the standoff over Iran’s nuclear program.

And one key to their war-gaming has been cutting off Iran’s ability to slip next-generation missiles into the Gaza Strip or Lebanon, where they could be launched by Iran’s surrogates, Hamas, Hezbollah and Islamic Jihad, during any crisis over sanctions or an Israeli strike on Iran’s nuclear facilities.

Michael B. Oren, the Israeli ambassador to the United States and a military historian, likened the insertion of Iranian missiles into Gaza to the Cuban missile crisis.

“In the Cuban missile crisis, the U.S. was not confronting Cuba, but rather the Soviet Union,” Mr. Oren said Wednesday, as the cease-fire was declared. “In Operation Pillar of Defense,” the name the Israel Defense Force gave the Gaza operation, “Israel was not confronting Gaza, but Iran.”

It is an imprecise analogy. What the Soviet Union was slipping into Cuba 50 years ago was a nuclear arsenal. In Gaza, the rockets and parts that came from Iran were conventional, and, as the Israelis learned, still have significant accuracy problems. But from one point of view, Israel was using the Gaza battle to learn the capabilities of Hamas and Islamic Jihad — the group that has the closest ties to Iran — as well as to disrupt those links.

Indeed, the first strike in the eight-day conflict between Hamas and Israel arguably took place nearly a month before the fighting began — in Khartoum, the capital of Sudan, as another mysterious explosion in the shadow war with Iran.

A factory said to be producing light arms blew up in spectacular fashion on Oct. 22, and within two days the Sudanese charged that it had been hit by four Israeli warplanes that easily penetrated the country’s airspace. Israelis will not talk about it. But Israeli and American officials maintain that Sudan has long been a prime transit point for smuggling Iranian Fajr rockets, the kind that Hamas launched against Tel Aviv and Jerusalem over recent days.

The missile defense campaign that ensued over Israeli territory is being described as the most intense yet in real combat anywhere — and as having the potential to change warfare in the same way that novel applications of air power in the Spanish Civil War shaped combat in the skies ever since.

Of course, a conflict with Iran, if a last-ditch effort to restart negotiations fails, would look different than what has just occurred. Just weeks before the outbreak in Gaza, the United States and European and Persian Gulf Arab allies were practicing at sea, working on clearing mines that might be dropped in shipping lanes in the Strait of Hormuz.

But in the Israeli and American contingency planning, Israel would face three tiers of threat in a conflict with Iran: the short-range missiles that have been lobbed in this campaign, medium-range rockets fielded by Hezbollah in Lebanon and long-range missiles from Iran.

The last of those three could include the Shahab-3, the missile Israeli and American intelligence believe could someday be fitted with a nuclear weapon if Iran ever succeeded in developing one and — the harder task — shrinking it to fit a warhead.

A United States Army air defense officer said that the American and Israeli militaries were “absolutely learning a lot” from this campaign that may contribute to a more effective “integration of all those tiered systems into a layered approach.”

The goal, and the challenge, is to link short-, medium- and long-range missile defense radar systems and interceptors against the different types of threats that may emerge in the next conflict.

Even so, a historic battle of missile versus missile defense has played out in the skies over Israel, with Israeli officials saying their Iron Dome system shot down 350 incoming rockets — 88 percent of all targets assigned to the missile defense interceptors. Israeli officials declined to specify the number of interceptors on hand to reload their missile-defense batteries.

Before the conflict began, Hamas was estimated to have amassed an arsenal of 10,000 to 12,000 rockets. Israeli officials say their pre-emptive strikes on Hamas rocket depots severely reduced the arsenal of missiles, both those provided by Iran and some built in Gaza on a Syrian design.

Read More..

Jake Owen Welcomes a Daughter

Mom & Babies
Celebrity Baby Blog

11/22/2012 at 08:30 PM ET

Courtesy Jake Owen

It’s a Thanksgiving baby!

Jake Owen and his wife Lacey welcomed their first child, daughter Olive Pearl Owen, on Thursday, Nov. 22 in Nashville, Tenn., his rep confirms to PEOPLE.

Pearl, as she will be called after Owen’s late godmother, weighed in at 6 lbs., 3 oz. and is 19½ inches long.

“Lacey and I are so excited to start our own family,” Owen, 31, tells PEOPLE. “We are looking forward to teaching Pearl everything we learned from our parents and also learning from her.”

Sharing a photo of his newborn daughter on Twitter, the musician wrote, “Today is the greatest day of my life. Turkey baby!!! Happy Thanksgiving.”

It’s been a whirlwind year for Owen and his wife, 22. After getting engaged on stage in April, the couple wed on the beach in May and announced the pregnancy in July.

– Sarah Michaud with reporting by Julie Dam

Read More..

Asia shares set for best week in 2 months as outlook improves

SINGAPORE (Reuters) - Asian shares rose on Friday and were on course for a weekly gain of more than 2.5 percent, their best in two months, after manufacturing surveys from the world's biggest economies raised hopes that the global growth outlook is improving at last.

The euro was also enjoying a positive week, despite data on Thursday pointing to the euro zone sliding into its deepest recession since 2009, with the currency standing up more than 1 percent from last Friday's close on optimism that a funding deal for debt-choked Greece will ultimately be agreed.

"Eventually they will reach a deal," said Callum Henderson, global head of FX research for Standard Chartered Bank in Singapore. "Whether they reach a deal on Monday remains questionable."

Financial bookmakers called Europe's major stock indexes to open flat or slightly higher, while S&P 500 index futures firmed 0.3 percent, suggesting small gains when Wall Street trading resumes for a shortened trading day later. <.eu><.ftse/>

MSCI's broadest index of Asia Pacific shares outside Japan <.miapj0000pus> rose 0.7 percent, with shares in South Korea <.ks11> and Hong Kong <.hsi> both rising more than 0.5 percent while Australian stocks <.axjo> were flat. <.ks><.ax><.hk/>

The MSCI index was up around 2.6 percent on the week, its best weekly performance since mid-September.

Activity generally was subdued, with Japanese financial markets closed for a holiday on Friday following the U.S. shutdown for Thanksgiving on Thursday.

Confidence in the global economic outlook was lifted on Thursday by the HSBC flash manufacturing Purchasing Managers Index (PMI) for China, which showed expansion in the factory sector accelerating for the first time in 13 months.

That followed Wednesday's report showing U.S. manufacturing grew in November at its quickest pace in five months, indicating strong economic growth in the fourth quarter, and helped sustain a rally in riskier assets such as stocks and commodities.

PMI data on the manufacturing and services sectors in Europe's two biggest economies, Germany and France, also reassured investors on Thursday by revealing that conditions had at least not worsened in November, although both economies were still contracting.

However, the PMI numbers for the wider euro zone remained extremely weak, pointing to its recession-hit economy shrinking by about 0.5 percent in the current quarter - its sharpest contraction since the first quarter of 2009.

GREEK RISKS

The euro was steady against the dollar around $1.2886, within sight of Thursday's three-week high of $1.2899.

The single currency was boosted by expectations that international lenders will soon reach a deal to release the next tranche of aid for Greece, although some market players remained cautious about the risks still posed by Europe's debt crisis.

"Greek exit (from the euro zone) is very unlikely this weekend, but I don't want to go into this weekend holding any risky positions," said RBS strategist Greg Gibbs in a note.

"In fact, while much ink has been spilled on the U.S. fiscal cliff, the bigger risk is still cracks appearing again in Europe."

The euro dipped 0.1 percent versus the yen to 106 yen, backing away from a six-and-a-half-month high of 106.585 yen set on Thursday.

The dollar eased 0.2 percent versus the yen to 82.25 yen, pulling away from Thursday's high of 82.84 yen, the dollar's strongest level since early April.

The dollar has climbed around 3.5 percent against the yen in the last two weeks, with the yen weakened by market expectations that the likely next Japanese government would push the Bank of Japan to implement more drastic monetary stimulus.

Oil dipped, with the prospect of weak demand from recession-mired Europe and the easing of supply concerns following the ceasefire in Gaza weighing on prices, although Brent crude remained up more than 1 percent on the week.

"I think what we're seeing in oil markets at the moment is a re-pricing after the ceasefire in the Gaza Strip," said Ben Le Brun, a market analyst at OptionsXpress.

Brent slipped 0.2 percent to $110.36 a barrel and U.S. benchmark crude eased a similar percentage to

$87.22.

Copper also eased 0.2 percent to just above 7,700 a tonne, but remained up more than 1 percent on the week.

Gold was flat around $1,730 an ounce.

(Additional reporting by Masayuki Kitano and Jessica Jaganathan; Editing by Eric Meijer)

Read More..

Egypt Leader and Obama Forge Link in Gaza Deal

Lefteris Pitarakis/Associated Press

Israelis in the town of Sderot watched a Palestinian missile on Wednesday, before a cease-fire.

WASHINGTON — President Obama skipped dessert at a long summit meeting dinner in Cambodia on Monday to rush back to his hotel suite. It was after 11:30 p.m., and his mind was on rockets in Gaza rather than Asian diplomacy. He picked up the telephone to call the Egyptian leader who is the new wild card in his Middle East calculations.

Over the course of the next 25 minutes, he and President Mohamed Morsi of Egypt hashed through ways to end the latest eruption of violence, a conversation that would lead Mr. Obama to send Secretary of State Hillary Rodham Clinton to the region. As he and Mr. Morsi talked, Mr. Obama felt they were making a connection. Three hours later, at 2:30 in the morning, they talked again.

The cease-fire brokered between Israel and Hamas on Wednesday was the official unveiling of this unlikely new geopolitical partnership, one with bracing potential if not a fair measure of risk for both men. After a rocky start to their relationship, Mr. Obama has decided to invest heavily in the leader whose election caused concern because of his ties to the Muslim Brotherhood, seeing in him an intermediary who might help make progress in the Middle East beyond the current crisis in Gaza.

The White House phone log tells part of the tale. Mr. Obama talked with Mr. Morsi three times within 24 hours and six times over the course of several days, an unusual amount of one-on-one time for a president. Mr. Obama told aides he was impressed with the Egyptian leader’s pragmatic confidence. He sensed an engineer’s precision with surprisingly little ideology. Most important, Mr. Obama told aides that he considered Mr. Morsi a straight shooter who delivered on what he promised and did not promise what he could not deliver.

“The thing that appealed to the president was how practical the conversations were — here’s the state of play, here are the issues we’re concerned about,” said a senior administration official who spoke on the condition of anonymity to discuss private conversations. “This was somebody focused on solving problems.”

The Egyptian side was also positive about the collaboration. Essam el-Haddad, the foreign policy adviser to the Egyptian president, described a singular partnership developing between Mr. Morsi, who is the most important international ally for Hamas, and Mr. Obama, who plays essentially the same role for Israel.

“Yes, they were carrying the point of view of the Israeli side but they were understanding also the other side, the Palestinian side,” Mr. Haddad said in Cairo as the cease-fire was being finalized on Wednesday. “We felt there was a high level of sincerity in trying to find a solution. The sincerity and understanding was very helpful.”

The fledgling partnership forged in the fires of the past week may be ephemeral, a unique moment of cooperation born out of necessity and driven by national interests that happened to coincide rather than any deeper meeting of the minds. Some longtime students of the Middle East cautioned against overestimating its meaning, recalling that Mr. Morsi’s Muslim Brotherhood constitutes a philosophical brother of Hamas even if it has renounced violence itself and become the governing party in Cairo.

“I would caution the president from believing that President Morsi has in any way distanced himself from his ideological roots,” said Robert Satloff, executive director of the Washington Institute for Near East Policy. “But if the president takes away the lesson that we can affect Egypt’s behavior through the artful use of leverage, that’s a good lesson. You can shape his behavior. You can’t change his ideology.”

Other veterans of Middle East policy agreed with the skepticism yet saw the seeds of what might eventually lead to broader agreement.

“It really is something with the potential to establish a new basis for diplomacy in the region,” said Tamara Cofman Wittes, who was Mr. Obama’s deputy assistant secretary of state for the Middle East until earlier this year and now runs the Saban Center for Middle East Policy at the Brookings Institution. “It’s just potential, but it’s particularly impressive potential.”

The relationship between the two leaders has come a long way in just 10 weeks. Mr. Morsi’s election in June as the first Islamist president of Egypt set nerves in Washington on edge and raised questions about the future of Egypt’s three-decade-old peace treaty with Israel. Matters worsened in September when Egyptian radicals protesting an anti-Islam video stormed the United States Embassy in Cairo.

Peter Baker reported from Washington, and David D. Kirkpatrick from Cairo.

This article has been revised to reflect the following correction:

Correction: November 21, 2012

An earlier version of this article misstated the given name of the director of the Saban Center for Middle East Policy at the Brookings Institution. She is Tamara Cofman Wittes, not Teresa.

Read More..

Facebook to share data with Instagram, loosen email rules

SAN FRANCISCO (Reuters) – Facebook Inc is proposing to combine user data with that of recently acquired photo-sharing service Instagram, and will loosen restrictions on emails between members of the social network.

Facebook also said on Wednesday it is proposing to scrap a 4-year old process that can allow the social network’s roughly 1 billion users to vote on changes to its policies and terms of services.

Facebook said it may share information between its own service and other businesses or affiliates that Facebook owns to “help provide, understand, and improve our services and their own services.”

One of Facebook’s most significant affiliate businesses is Instagram, a photo-sharing service for smartphone users that Facebook acquired in October for roughly $ 715 million.

The change could open the door for Facebook to build unified profiles of its users that include people’s personal data from its social network and from Instagram, similar to recent moves by Google Inc. In January, Google said it would combine users’ personal information from its various Web services – such as search, email and the Google+ social network – to provide a more customized experience.

Google’s unified data policy raised concerns among some privacy advocates and regulators, who said it was an invasion of people’s privacy. A group of 36 U.S. state attorney generals also warned in a letter to Google that consolidating so much personal information in one place could put people at greater risk from hackers and identity thieves.

Facebook also wants to loosen the restrictions on how members of the social network can contact other members using the Facebook email system.

Facebook said it wanted to eliminate a setting for users to control who can contact them. The company said it planned to replace the “Who can send you Facebook messages” setting with new filters for managing incoming messages.

Asked whether such a change could leave Facebook users exposed to a flood of unwanted, spam-like messages, Facebook spokesman Andrew Noyes said that the company carefully monitors user interaction and feedback to find ways to enhance the user experience.

“We are working on updates to Facebook Messages and have made this change in our Data Use Policy in order to allow for improvements to the product,” Noyes said.

Facebook’s changes come as the world’s largest social networking company with roughly 1 billion users has experienced a sharp slowdown in revenue growth. The company generates the bulk of its revenue from advertising on its website.

The changes are open to public comment for the next seven days. If the proposed changes generate more than 7,000 public comments, Facebook’s current terms of service automatically trigger a vote by users to approve the changes. But the vote is only binding if at least 30 percent of users take part, and two prior votes never reached that threshold.

Facebook has said in that past that it was rethinking the voting system and on Wednesday Facebook moved to eliminate the vote entirely, noting that it hasn’t functioned as intended and is no longer suited to its current situation as a large publicly traded company subject to oversight by various regulatory agencies.

“We found that the voting mechanism, which is triggered by a specific number of comments, actually resulted in a system that incentivized the quantity of comments over their quality,” Elliot Schrage, Facebook’s vice president of communications, public policy and marketing, said in a blog post on Wednesday.

Instead of the vote, Facebook will look for other forms of user feedback on changes, such as an “Ask the Chief Privacy Officer” question-and-answer forum on its website as well as live webcasts about privacy, safety and security.

Facebook, Google and other online companies have faced increasing scrutiny and enforcement from privacy regulators as consumers entrust ever-increasing amounts of information about their personal lives to Web services.

In April, Facebook settled privacy charges with the U.S. Federal Trade Commission that it had deceived consumers and forced them to share more personal information than they intended. Under the settlement, Facebook is required to get user consent for certain changes to its privacy settings and is subject to 20 years of independent audits.

(Reporting By Alexei Oreskovic; Editing by Tim Dobbyn)

Social Media News Headlines – Yahoo! News

Read More..

Asian shares rise on encouraging China, U.S. factory data

TOKYO (Reuters) - Asian shares rose on Thursday and European equities were expected to follow as solid manufacturing surveys in the United States and China fed optimism that the global growth slowdown may have turned a corner, while the euro was underpinned by hopes for aid for Greece.

The euro rebounded to a two-week high against the dollar of $1.28685. German Chancellor Angela Merkel revived hopes by saying an agreement to release emergency aid to Greece was still possible next Monday when euro ministers meet, after Athens' international lenders failed to reach a deal on Wednesday.

Trading volume was thinning ahead of the U.S. Thanksgiving weekend, but European shares were seen extending gains, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to track Asian strength and open as much as 0.6 percent higher.

MSCI's broadest index of Asia-Pacific shares outside Japan built on early increases to rise 0.8 percent to a 1-1/2-week high, for a four-day winning streak.

Regional equities markets had already been buoyed by recovering risk appetite on easing tension in the Middle East and hopes that a Greece bailout will be agreed next week.

Resources-sensitive Australian shares surged 1 percent to their highest close in 10 days as miners climbed. London copper rose 0.5 percent to $7,730.50 a tonne and spot gold inched up 0.1 percent to $1,730.89 an ounce.

South Korean shares rose 0.8 percent, pulled higher as shares in Samsung Electronics Co Ltd scaled a new lifetime high of 1.419 million won ($1,300) on expectations for strong profit growth in its mobile business.

The China HSBC flash Manufacturing Purchasing Managers Index rose to a 13-month high of 50.4 in November, indicating factory activity was picking up and pointing to reviving economic growth after seven consecutive quarters of slowing. A sub-index measuring output rose to 51.3, also the highest since October 2011.

"The data suggests the China's growth had hit a bottom in the third quarter and prospects are brightening for small and medium-sized firms in China," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.

While the report was positive, the rise in prices of base metals, of which China is the world's top consumer, will be contained given the high level of Chinese inventories, he said.

"But shares get a boost because they are driven by sentiment and because contained base metal prices under an improving economy will help companies boost their earnings," Niimura said.

He added that as hedge funds close their books this month and next, any swing in prices should be seen as more related to their position adjustments than a change in real risk appetite.

Chinese data followed an overnight report showing U.S. manufacturing grew in November at its quickest pace in five months. A rise in domestic demand hinted that factories could provide a boost to economic growth in the fourth quarter.

"With U.S. markets closed tonight for the Thanksgiving holiday, investors' focus will be squarely on French, German and composite-European manufacturing PMIs and the kick-off of yet another EU summit," said Cameron Peacock, market strategist at IG in Melbourne.

FUNDS TARGET YEN

Japan's Nikkei stock average jumped 1.6 percent to a 6-1/2-month closing high as exporters were lifted by hopes the weakening yen would boost their earnings. Japanese financial markets will be closed on Friday for a public holiday.

The yen has come under pressure since the Japanese government announced a December 16 election last week.

The opposition Liberal Democratic Party, which is tipped to win, on Wednesday promised a big extra budget and a policy accord with the Bank of Japan on aggressive monetary stimulus to prevent the economy from sliding into recession.

The yen fell to a 7-1/2-month low versus the dollar of 82.59 on Thursday, while the Japanese currency also hit a 6-1/2-month low of 106.26 yen against the euro.

"Yen, I think, is being driven by anticipation of LDP led government forcing aggressive monetary easing," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.

Japanese government bonds slipped, weighed by the jump in equities, pushing 10-year yields up 1 basis point to 0.740 percent.

Rallying stock markets boosted sentiment in Asian credit markets, tightening the spreads on the iTraxx Asia ex-Japan investment-grade index by 3 basis points.

A ceasefire between Israel and Gaza's Hamas rulers took hold on Thursday after eight days of conflict, easing concerns about supply from oil-producing Middle East.

Oil inched higher, with U.S. crude up 0.2 percent to $87.59 a barrel and Brent also up 0.2 percent to $111.06.

(Additional reporting by Dominic Lau and Lisa Twaronite in Tokyo; Editing by Kim Coghill)

Read More..

Gunman in Mumbai Attacks Is Hanged

India executed the only surviving gunman from the 2008 terrorist attack on Mumbai early Wednesday, the country’s Home Ministry said. The gunman, Muhammad Ajmal Kasab, a Pakistani citizen, was one of 10 attackers who rampaged through the streets of India’s financial capital for three days in November 2008 and killed 163 people. Mr. Kasab was hanged in secrecy at 7:30 a.m. at a jail in Pune, a city near Mumbai, after India’s president, Pranab Mukherjee, rejected his plea for mercy. Mr. Kasab and the other gunmen entered Mumbai by boat on Nov. 26, 2008. Armed with grenades and automatic weapons, the gunmen fanned out across Mumbai, targeting luxury hotels, a Jewish center and the city’s main train station. A photograph of Mr. Kasab striding through the station, an assault rifle in hand, quickly became an indelible image of the assault. India blames Lashkar-e-Taiba, a militant Pakistani organization, for orchestrating the attacks. (AP)

Read More..

The Voice: Top Eight Contestants Revealed

TV Watch

By Julia Haskins

11/20/2012 at 10:05 PM EST

From left: Adam Levine, Cee Lo Green, Christina Aguilera, Blake Shelton and host Carson Daly

Mark Seliger/NBC

Following what Blake Shelton called the "best episode of The Voice we've ever had", spirited group performances on Tuesday night's show kept the energy up and distracted viewers just long enough from the business at hand – impending eliminations.

Christina Aguilera brought the heat with her song "Let There Be Love." Rascal Flatts shared their hit "Changed." Later, Adam Levine performed a rendition of Queen's "Crazy Little Thing Called Love," followed by the contestants taking on Pat Benatar's "Hit Me with Your Best Shot."

But once again, the decisions about who would stay and who would go were completely up to the viewers. No input from the coaches could save contestants this time. Keep reading to find out which contestants will sing again next week ...

The first round of results turned out to be good news for Nicholas David and Cassadee, later joined by Dez Duron and Cody Belew in the top eight.

America also gave Terry McDermott, Melanie Martinez, Trevin Hunte and Amanda Brown another shot at superstardom.

That means Bryan Keith and Sylvia Yacoub won't be singing again on Monday night's episode.

Read More..

Asian shares, euro fall on uncertainty over Greek bailout

TOKYO (Reuters) - The euro skidded on Wednesday and Asian shares fell after European officials failed to reach a deal on another bailout for Greece, a day after Federal Reserve Chairman Ben Bernanke highlighted the dangers of a U.S. fiscal crisis.

U.S. stock futures eased 0.4 percent, pointing to a weak Wall Street open.

Financial spreadbetters predict London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open down as much as 0.2 percent, following weakness in Asia. <.l><.eu><.n/>

The euro slumped 0.5 percent to $1.2752, extending losses and retreating from Tuesday's two-week high of $1.28295.

The euro's decline lifted the dollar up 0.3 percent against a basket of key currencies <.dxy> and weighed on commodities such as gold, which eased 0.3 percent to $1,722.70 an ounce.

Euro zone finance ministers and Greece's international lenders will gather again on Monday. Their meeting in Brussels ended on Wednesday without an agreement on the next tranche of loans to Greece, as they haggled over myriad options on how to bring the country's debt down to a sustainable level, without which emergency aid cannot be disbursed to Athens.

"The euro is being sold because markets had believed the ministers would agree on aid for Greece at today's meeting," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.

"Instead, a settlement is postponed, highlighting the difficulty of getting consensus on the debt crisis. But I feel this is a typical European political show and an agreement will be reached."

The bearish news from Europe dragged down Asian shares, whose two-day rise had already been stalled after Bernanke on Tuesday repeated a warning that failure to avoid the $600 billion "fiscal cliff" in expiring tax cuts and government spending reductions could lead to recession in the United States.

The Fed chief said worries over how budget negotiations will be resolved were already damaging growth.

Concerns about the United States failing to raise its debt ceiling rattled financial markets in August 2011 and prompted Standard & Poor's to cut the top-notch U.S. government bond rating for the first time ever.

"The price action suggests market participants are unclear of what to make of recent developments and therefore this warrants some caution," said Stan Shamu, strategist at IG Markets.

But Hirokazu Yuihama, a senior strategist at Daiwa Securities, said that for all the concerns over the fiscal cliff, most of the market expected the U.S. Congress and White House to reach a compromise to avert the crisis.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> slipped 0.2 percent. Hong Kong <.hsi> shares bucked the falling trend but pared earlier gains to rise 0.5 percent while Shanghai shares <.ssec> inched up 0.3 percent.

Japan's Nikkei stock average <.n225> closed up 0.9 percent at a two month-high as exporters were buoyed by a weaker yen.

The yen has come under pressure on expectations that a general election on December 16 will result in victory for an opposition leader who wants the Bank of Japan to aggressively ease monetary policy to stem the economy from further deterioration. <.t/>

MACRO DATA EYED

Daiwa's Yuihama said concerns over third-quarter earnings have subsided as most Asian companies had already reported results.

"This has prompted investors to turn to economic fundamentals. Signs of recovery in the U.S. and China are offering some assurances that the global economic slump may not be as severe as previously feared, even if growth remains fragile," Yuihama said.

Investors will now focus on HSBC China flash PMI for November due on Thursday to see whether a low point for China, the world's second largest economy, is over. U.S. manufacturing figures are due later on Wednesday while those from Europe are due on Thursday.

Trading activity was slowing ahead of the U.S. Thanksgiving long weekend.

Going into the holiday, the dollar has been underpinned broadly by data indicating a moderate U.S. recovery taking root, while the yen remained under pressure, with more data showing Japan's economy struggling.

Japan's exports fell 6.5 percent in October from a year ago, dropping for a fifth consecutive month, weighed down by weakening global demand and a territorial row with China, its main customer.

In the U.S. on Tuesday, a report showed housing starts rose to the highest rate in more than four years in October.

The dollar rose to a 7-1/2-month high against the yen of 81.975 yen while the euro briefly touched a peak of 105.05 yen, its highest point since May 4.

A retreat in shares dragged oil lower, although prices remained supported by a lack of ceasefire between Israelis and Palestinians, which raised concerns about supply disruptions from the Middle East.

U.S. crude futures pared earlier gains and were up 0.1 percent to $86.85 a barrel by midafternoon, and Brent crude also trimmed earlier rises and was up 0.2 percent at $110.03.

Weak appetite for riskier assets also interest in Asian credit markets subdued, with the spreads on the iTraxx Asia ex-Japan investment-grade index tightening by 1 basis point.

(Additional reporting by Miranda Maxwell in Melbourne; Editing by Simon Cameron-Moore & Kim Coghill)

Read More..

Obama Receives Warm Welcome in Myanmar

YANGON, MYANMAR — The generals predicted that the Americans would come — but not like this.

In the paranoid decades of military rule, members of Myanmar’s junta told diplomats that they feared an American invasion and regime change.

On Monday, there was a large American deployment to Myanmar, but of an entirely different kind. Two jumbo jets carrying President Barack Obama, Secretary of State Hillary Rodham Clinton and their substantial entourage arrived for a six-hour visit. They were greeted by hundreds of people along Yangon’s streets, many of them waving U.S. flags.

“I saw Obama and nearly fainted,” said U Sein Hla Maung, an accounting teacher, who was perched on a hill overlooking the airport. “I’m very excited.”

Across the city there were symbols of how much mistrust has dissolved between the two governments and how much Myanmar has changed over the past two years as it moves from a dictatorship and toward a democracy. There were graffiti tributes to Mr. Obama, and shops sold T-shirts with his image.

“You are the legend hero of our world,” read a large sign in English held by a group of women standing along the road where Mr. Obama’s motorcade passed.

The warm greeting that Mr. Obama received here was partly government pomp and protocol. Hundreds of students in uniform were bused to the airport to line the roads and chanted in unison a rehearsed greeting: “President Obama is warmly welcomed to Myanmar!”

But the hundreds of others who came to greet the president’s motorcade on their own said they were deeply moved by Mr. Obama’s presence.

“We’ve been waiting 50 years for this visit,” said Kyaw Soe Moe, a restaurateur who had stood along the road with two large American flags. “There is justice and law in the United States. I want our country to be like that.”

During Myanmar’s military rule, American flags were taboo and symbols of defiance. On Monday, well-wishers said it was a measure of new freedoms in the country that they could greet Mr. Obama holding the Stars and Stripes.

“America always meant support for democracy for us,” Win Min, a former student activist who was one of two interpreters of a speech Mr. Obama delivered during his visit. “It was the country that had the strongest criticism of the military regime. We looked up to America.”

In 1988, when students and striking workers rose up against military rule, they marched almost daily to the U.S. Embassy. The military put down the uprising in a crackdown that killed many. It has only been 20 months since the junta in Myanmar ceded power to the civilian government of President Thein Sein. Therefore, American flags strewn across the capital, and Air Force One parked at the airport in Yangon, were a novel and somewhat jarring sight.

“There were people in the old regime and there are probably some people in the new government who still fear America,” said U Thant Myint-U, a historian who was in the audience for Mr. Obama’s speech. “They are afraid of what American influence could unleash here.”

Mr. Obama’s visit suggests that the Myanmar government “now has gained a level of confidence,” Mr. Thant Myint-U said.

Some members of the governing party, which is led by former generals of the junta, sought to play down the visit.

“I want to say that America is not the only friend of our nation — China and India are our friends too,” said U Khin Maung Htoo, a member of Parliament with the Union Solidarity and Development Party.

Mr. Khin Maung Htoo also said it was inappropriate for Mr. Obama to have met Myanmar’s president in Yangon instead of Naypyidaw, the capital built and conceived by the military.

The timing of the visit was awkward for Mr. Thein Sein, who flew from a regional meeting of the Association of Southeast Asian Nations in Cambodia to meet Mr. Obama and then flew back to Cambodia immediately afterward.

In his speech at the University of Yangon, Mr. Obama spoke about the changes to the country and offered a “hand of friendship” between two countries that had become “strangers.” The speech was carried live on Myanmar television, but without explanation the announcers stopped simultaneous interpretation in Burmese after several minutes.

Mr. Obama spoke about Myanmar’s continuing ethnic strife and said the country should harness the “power of diversity.” He said that people with his skin color were once denied the right to vote in the United States.

“And so that should give you some sense that if our country can transcend its differences,” Mr. Obama said, “then yours can too.”

On the street outside the university was U Ko Ni, a former political prisoner, who held up a sign: “Welcome Americans. No other nation has full human rights and democracy. We need and want democracy. Do help.”

Wai Moe contributed reporting from Yangon.

Read More..

Dancing with the Stars: Couples Perform Crazy Combinations in Semi-Finals

TV Watch

Dancing With the Stars

By Aaron Parsley

11/19/2012 at 11:05 PM EST

Shawn Johnson and Derek Hough

Craig Sjodin/ABC

It's the semi-finals!

The remaining five couples on Dancing with the Stars faced two rounds of competition on Monday. First, the pairs performed mixed-up routines, blending uncommon styles with unusual themes. Then, they celebrated the 25th anniversary of Michael Jackson's hit album Bad with more traditional ballroom numbers.

Keep reading for all the details and scores ...

Melissa Rycroft & Tony Dovolani
Last week's top scorers kicked off the night with a caveman hustle. "Fred and Wilma have never danced so well," Len Goodman said, while Bruno Tonioli said they lost footing during the turns. They scored a 27.5. But their red-hot Argentine tango to "Dirty Diana" was a perfect 30. "That was beyond anything I could have imagined for you," a thrilled Carrie Ann Inaba said. "I would be really disappointed if you're not here next week," Len added.

Shawn Johnson & Derek Hough
Hough said he would rather put mustard on ice cream than combine their Knight Rider theme with the Bhangra style. But the judges ate up the routine – and awarded the pair a perfect 30. In round two, their Argentine tango sparked disagreement on the panel. Bruno and Len held up 10s but Carrie Ann knocked off a point. "Every line was perfect, but dance is sometimes more than just movement and I thought that you lacked the real passion of the Argentine tango," she said.

Apolo Ohno & Karina Smirnoff
Their big top jazz routine was another sticking point for Carrie Ann and Bruno. She found the mime-themed dance "very disjointed," "out of sync" and "quite sloppy." He found it "edgy, surreal" and a "great mixture of jazz movement." They earned 27 points. But there was no arguing over their rumba to "Man in the Mirror," which earned a perfect 30. "It was like the sea," Len said. "There was wave after wave of effortless motion. There was a subtlety to it, there was a calmness. It captivated. It was fabulous."

Emmitt Smith & Cheryl Burke
The goal of their espionage lindy hop was to be cartoonish. Though that was tough for the former Dallas Cowboy, the judges were pleased and awarded the pair 27 points. "It was like a Looney Tunes version of James Bond," Bruno said. "It was the most fun performance I've seen you do." Their tango to "Leave Me Alone" was more of a challenge, but Len still gave Smith credit: "You've coped marvelously well with two dances that didn't really suit you," he said.

Kelly Monaco & Val Chmerkovskiy
Their surfer flamenco was super sexy – Val ended up in nothing but Speedo! – but the judges had issues with their technique, and handed out only 25.5 points. "It had a lot of aggression and a lot of fire. But the flamenco has very, very exact placement and it wasn't there," Bruno said. Carrie Ann called it "robotic." But they added 28.5 points with a romantic rumba to "I Just Can't Stop Loving You." "That was smoldering, driven by desire, consumed by lust," Bruno said. "The chemistry between you two is literally singeing."

Two couples are heading home Tuesday night, leaving just three to compete in next week's finale. Who deserves a chance at the mirror-ball trophy? Discuss in the comments below.

Read More..

Asian shares rise on hopes for U.S. fiscal deal

TOKYO (Reuters) - Asian shares rose on Tuesday on hopes of a compromise in the U.S. fiscal crisis, while the euro fell after Moody's Investors Service scrapped France's top-notch credit rating, reminding investors of the downside risk from the euro zone debt woes.

With risk assets from stocks to commodities rallying over the past two sessions, recovering some of last week's sharp losses, markets were prone to profit taking as trading will likely slow ahead of Thanksgiving holiday weekend.

The dollar steadied against a basket of key currencies <.dxy> after Monday's 0.5 percent drop, capping commodities and gold. Oil also retreated from a near 3 percent jump on Monday.

U.S. stock futures eased 0.1 percent to hint at a weak Wall Street open. Financial spreadbetters predict London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open down as much as 0.3 percent. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.7 percent, led by the materials and technology sectors <.miapjmt00pus><.miappjit00pus>.

Wall street climbed nearly 2 percent on Monday thanks to expectations that U.S. Congress reach a compromise to avoid $600 billion in tax increases and spending cuts due to start in January - the "fiscal cliff" that threatens to derail the U.S. economy.

"There's some optimism at the moment about the Americans doing something constructive about their fiscal cliff problem," said Damien Boey, equity strategist at Credit Suisse.

Tech stocks lifted Korean shares <.ks11> up 0.6 percent and Hong Kong <.hsi> stocks added 0.8 percent to a one-week high.

Shanghai shares <.ssec> fell 0.5 percent, nearing their lowest since early 2009 hit on Monday, after data showed China's foreign direct investment inflows fell 3.45 percent in the first 10 months of 2012 from a year ago.

Japan's Nikkei average <.n225> inched down 0.1 percent, after reaching a fresh two-month high earlier in the day. <.t/>

As expected, the Bank of Japan took no fresh steps after a two-day policy meeting on Tuesday, reiterating that it would pursue powerful monetary easing as Japan's economy is weakening.

The dollar fell 0.2 percent to 81.23 yen, but held near its highest since April 25 of 81.59 yen touched on Monday.

David Baran, co-founder of Tokyo-based hedge fund Symphony Financial Partners, said Japanese equities and the yen were attractive in comparison to other Asian assets. Nikkei has stayed at the lower end of ranges through 2012 and there are expectations that next month's election will result in a government that wants the BOJ to take stronger stimulus steps.

"Just from a risk-reward standpoint, you are seeing investors looking at Japan, looking at the yen and natural extrapolation of maybe we've seen the end of the bottom range of the dollar/yen," he said. "If you are trying to trade big moves, turning points, then you are getting into low risk, high reward possibility in yen and subsequently Japanese equities."

TAIL RISKS REMAIN

Euro zone finance ministers are expected to give a tentative go-ahead for the disbursement of 44 billion euros in emergency loans to Greece at a meeting later on Tuesday and discuss how to reduce Greek debt and provide two extra years of external financing to help Athens meet its fiscal target.

Ratings agency Fitch on Monday warned that failure to reach a deal on the "fiscal cliff" could trigger a recession and push the U.S. jobless rate above 10 percent. Given such "far-reaching effects," Fitch said it did not expect Congress to allow it to happen, echoing recent market optimism.

But Richard Franulovich, senior currency strategist at Westpac Securities in New York, said in a note that the positive conciliatory rhetoric over the "fiscal cliff" could easily come unstuck, while anything that is produced at the euro zone finance ministers' meeting is likely to be piecemeal.

"Given our read of the fiscal cliff and Greek risks we remain comfortable fading strength in risk assets," he said.

The euro zone's debt crisis saw Moody's cut France's government bond rating to Aa1 and keep its negative outlook, citing the country's uncertain fiscal outlook and deteriorating economic prospects.

France's downgrade sent the euro down 0.3 percent to $1.2777 from $1.2810, before it steadied to $1.2797, and also weighed on the euro against the yen.

Hiroshi Maeba, head of FX trading Japan for UBS in Tokyo, said the reaction to the downgrade was limited, as trading was getting lighter ahead of Thanksgiving weekend.

"Given the recent market rally, the rest of the week is likely to be spent on adjusting positions before the long weekend, with any uptick giving way to profit taking," he said.

Brent crude held steady above $111 a barrel on Tuesday, less than a dollar away from a one-month top hit in the previous session, on hopes over the U.S. budget crisis and supply worries triggered by tensions in the Middle East.

U.S. crude futures eased 0.3 percent to $89.06.

Spot gold was nearly flat at $1,732.05 an ounce.

With risk appetite recovering, credit market spreads on the iTraxx Asia ex-Japan investment-grade index tightened by 4 basis points.

(Additional reporting by Clement Tan in Hong Kong and Thuy On in Sydney; Editing by Simon Cameron-Moore)

Read More..

Cisco to buy cloud-networking start-up Meraki for $1.2 billion

(Reuters) – Networking equipment company Cisco Systems Inc said it will buy privately held cloud networking company Meraki for $ 1.2 billion in cash as part of its cloud and networking strategy.

Cisco said the acquisition of Meraki, which was founded in 2006 by members of MIT’s Laboratory for Computer Science, is expected to close in the second quarter of Cisco’s 2013 fiscal year and is subject to regulatory approval.

Cisco’s second quarter runs until the end of January.

Meraki – funded by Sequoia Capital and Google Inc – offers Wi-Fi technology, switching, security and mobile device management from the cloud with a focus on mid-sized businesses.

“This is a very logical move for Cisco,” said ZK research analyst Zeus Kerravala.

He said the deal will allow Cisco to offer alternative solutions to traditional Wi-Fi deployment models like smaller competitors, such as Aruba Networks and Ruckus Wireless, which debuted on Friday.

“Cisco didn’t really have anything to counter that before,” Kerravala noted.

Meraki’s Chief Executive Sanjit Biswas said in a letter to employees posted on the company website that Cisco had approached the company several weeks ago.

The company’s founders had at first rejected the offer in favor of continuing Meraki’s strategy aimed at an initial public listing.

“After several weeks of consideration, we decided late last week that joining Cisco was the right path for Meraki,” Biswas said.

He also said that Meraki had achieved a $ 100 million bookings run rate, grown to 330 employees and had a positive cash flow.

(Reporting by Nicola Leske, editing by Gary Crosse)

Tech News Headlines – Yahoo! News

Read More..

Justin Bieber Brings His Mom to the American Music Awards

By Maggie Coughlan

11/18/2012 at 09:35 PM EST

Pattie Mallette and Justin Bieber

Jonathan Alcorn/Reuters/Landov

Mother knows best!

Despite his recent split from Selena Gomez, Justin Bieber still had a date for the 40th American Music Awards on Sunday: his mother, Pattie Mallette.

Malette – who recently penned Nowhere But Up: The Story of Justin Bieber's Mom – looked thrilled to pose for photographs with her son.

When Bieber won the first award of the night, for favorite pop/rock male artist, his proud mother, 38, beamed.

"I want to say this is for all the haters who thought I was just here for one or two years. I feel like I'm going to be here for a very long time," the singer said as he accepted the award.

The award was a highlight during a rocky week for Bieber, who on Friday reunited with Gomez, 20, for dinner at a Japanese restaurant in Los Angeles. But just five minutes after entering the restaurant, the couple emerged with Gomez looking visibly "mad," says a source.

Later that night, Bieber Tweeted "Things aren't always easy. there is a lot of pressure. im figuring it all out. im trying. but i care, i notice, i still hear u. #Beliebers."

Read More..

Asian shares rise on US fiscal hopes

TOKYO (Reuters) - Asian shares rose on Monday, supported by hopes U.S. politicians can overcome an imminent fiscal crunch while the yen fell to a near seven-month low against the dollar on expectations a new government chosen in next month's election could pump large amounts of stimulus cash into the economy.

A 0.2 percent gain in U.S. stock futures point to a firm Wall Street open, and financial spreadbetters predict London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open as much as 0.9 percent higher. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.5 percent, recovering from Friday's nine-week low.

Its energy sector <.miapjen00pus> outperformed as mounting supply concerns on escalating tension from Israeli air strikes on the Gaza Strip and Hamas rocket attacks on Israel underpinned oil prices.

The materials sector <.miapjmt00pus> was among top gainers as London copper rallied 1 percent to $7,684 a tonne on a renewed growth outlook for China and hopes for a solution to the U.S. fiscal cliff.

Australian shares <.axjo> climbed 0.6 percent but Shanghai shares <.ssec> underperformed with a 0.5 percent drop, having earlier touched levels not seen since early 2009.

"We had some positive leads from the U.S. on Friday. Our market had been underperforming last week," Peter Esho, chief market analyst at City Index, said of Australian equities. "There's some hope that the negotiations in the U.S. around the fiscal situation may somewhat improve - the prospects around that may improve this week."

Japan's Nikkei average <.n225>, which bucked the broad Asian downtrend on Friday and surged 2.2 percent, extended gains with a 1.4 percent climb to close at a two-month high. <.t/>

Speculation that the leader of the opposition Liberal Democratic Party, which is expected to win the December 16 elections, will call for more stimulus including further aggressive easing by the Bank of Japan also undermined the yen.

The BOJ begins a two-day policy meeting on Monday, and is expected to refrain from taking fresh policy steps.

The dollar hit a near seven-month high against the yen at 81.59 yen on Monday. A weaker yen helps support the economy and boosts sentiment for Japanese equities investors.

A senior trader at a foreign bank said investors had been underweight Japanese equities and the rally could have further to go as they start to put their money into Japan, advising investors to cover their positions in very heavily short-sold sectors such as electronics.

FISCAL CLIFF, GREECE EYED

Aside from Japanese politics, market players closely watched negotiations among U.S. Congressional leaders to avoid a budget crisis, and prepared for European officials' meeting on Tuesday to discuss aid for debt-stricken Greece.

Hope that U.S. politicians would find a way to steer clear of the "fiscal cliff" boosted U.S. stocks on Friday. European shares sank to a 3-1/2-month closing low, for their worst week since the end of May, on persistent concerns over U.S. fiscal policy and the euro zone debt crisis.

Top lawmakers from both major U.S. political parties on Friday hinted at the possibility of a budget compromise that involves spending cuts and additional revenue, although they were short on details.

"The good news is the tone of Friday's White House meeting but the prospect of no agreement until at least mid-December fits our view that the two sides are starting negotiations from rather distant points," Sean Callow, senior currency strategist at Westpac bank in Sydney, said in a note.

"As such, there will be plenty of negative headlines in coming weeks that weigh on Treasury yields and boost USD, which is yet again trading like a safe haven even when the bad news is generated by the US."

The dollar fell 0.2 percent, retreating from the two-month high of 81.455 hit on Friday against a basket of key currencies <.dxy>. The drop in the dollar supported gold, which added 0.5 percent to $1,721.60 an ounce.

The euro rose 0.1 percent to $1.2760, with traders waiting to know whether euro zone finance ministers and International Monetary Fund Managing Director Christine Lagarde would agree a way to make Greece's debt manageable.

"As the EU prepares a bundled aid package to avert a Greek default, headlines coming out of the meeting may fuel a relief rally in the euro, but we will maintain our bearish forecast for the single currency as the region faces a deepening recession," said David Song, currency analyst at DailyFX.

U.S. crude futures jumped 1 percent to 87.81 a barrel and Brent rose 0.7 percent to $109.70.

Asian credit market spreads on the iTraxx Asia ex-Japan investment-grade index were little changed.

(Additional reporting by Thuy Ong and; Ian Chua in Sydney, Dominic Lau in Tokyo; Editing by Eric Meijer)

Read More..

Russia Looks Askance at Corruption Drive

MOSCOW — Ripples of scandal are spreading in Russia’s Far East, where, auditors say, $472 million in construction financing was misallocated ahead of a government summit meeting. About $200 million in missing funds have led to firings in Russia’s space industry. And corruption in the Defense Ministry has figured prominently in Russia’s news cycles since Nov. 6, leaving the fate of its former minister uncertain.

In the past, President Vladimir V. Putin has always been reluctant to expel or prosecute high-level officials, despite widespread complaints about corruption. So the mushrooming scandals are unusual, raising questions about what has changed.

There is little doubt that the Kremlin has been battered by opposition campaigns highlighting official corruption. Political strategists, searching for ideas powerful enough to consolidate the country around Mr. Putin, may seize on fighting corruption as a Kremlin effort, and recent steps hint at a populist push to expose and punish guilty officials.

“A tough, uncompromising battle with corruption has begun,” announced Arkady Mamontov, a pro-government television host, in a much-hyped documentary titled “Corruption” that, though it was broadcast close to midnight on Tuesday, attracted nearly 20 percent of the television audience. “In the course of the next months, we will see many interesting things. The main thing is that we should not stand aside and watch what is happening, but take an active part in it.”

Political observers have watched the anticorruption drive curiously, debating where it might be headed, and especially whether, for the first time since Mr. Putin came to power, high-ranking officials would face prosecution. On Monday, the newspaper Vedomosti declared that Moscow was witnessing the beginning of a “cleansing of the elite” — a flushing out of a political system that lacks other mechanisms of renewal, like competitive elections. Others were skeptical that the effort would reach beyond midlevel officials.

“It cannot become an overall ideology, because Putin’s system is dependent on corruption — on corruption as a form of management and a guarantee of loyalty from officials,” said Aleksei Navalny, a blogger and anticorruption activist. “They will not kick out from under themselves the stool that they are standing on.”

Last week, it seemed the Kremlin had not decided how far to take its anticorruption drive. On Wednesday, Russian news agencies reported that the highest-level official to be implicated — the former defense minister Anatoly E. Serdyukov — had been offered a comfortable new job as an adviser to the director of Rostekhnologii, a company that produces and exports high-tech equipment.

The news prompted waves of angry commentary from those who had hoped Mr. Serdyukov would be prosecuted, including Adm. Vladimir Komoyedov, who heads the Defense Committee in the lower house of Parliament.

“There is a signal in the navy that means ‘man overboard,’ ” he said. “We all thought the former minister had fallen overboard, and his fate would be sorrowful. But it turned out he was still inside the submarine.”

Others said it was more evidence that Mr. Putin does not give up his own. By way of commentary, the newspaper Kommersant posted a still from “The Godfather” in which the Mafia don embraced one of his lieutenants, along with a quotation: “Friendship is everything.”

Officials the next day denied that Mr. Serdyukov had been offered the job. Asked about the case at a news conference, Mr. Putin confirmed that, but said it would not be a problem if Mr. Serdyukov was given a new position, since he has not been formally accused of wrongdoing.

“There is a generally accepted practice that a person is innocent as long as a court has not proven his guilt,” he said. “If he wants to gain work anywhere, I don’t think that we should prevent that. He has the right to work.”

The Kremlin faces a dilemma in resolving Mr. Serdyukov’s case. Russians largely supported Mr. Serdyukov’s dismissal, and some speculated that the anticorruption effort was bolstering Mr. Putin’s approval ratings. The firing was particularly popular among prosperous urban males — a population that has turned away from Mr. Putin in recent years, and which he is no doubt eager to win back. But a prosecution would shine light on a deep and pervasive flaw of Mr. Putin’s system, with unpredictable consequences.

Mr. Navalny said he was “cautiously optimistic” that information about corruption had begun to emerge into public view, even if high-level officials were not punished.

Read More..

14 Black Friday Tech Deals Start Early at Walmart

1. Apple iPad 2 — 16GB

$ 399

Click here to view this gallery.

[More from Mashable: Top 10 Twitter Pics of the Week]

This year Walmart is starting Black Friday on Thursday, so you can get an early start on your holiday tech savings. You’ll need to gobble up your Thanksgiving dinner early and get over to Walmart; the company is kicking off in-store deals at 8 p.m. local time on Thanksgiving, when you can snag a Nintendo Wii Console for $ 89.

The big electronics event begins at 10 p.m. with deals on a Samsung 43-inch plasma TV and a NOOK Color. Don’t worry that they’ll run out of those door-buster deals either. Walmart is offering a one-hour guarantee on select consumer electronics during Thursday’s 10 p.m. event.

[More from Mashable: Stylish HiRise Stand Elevates Laptops to the Ideal Height]

Walmart says customers inside the store and in line between 10 p.m. and 11 p.m. local time can purchase an Apple iPad 2 16GB with Wi-Fi for $ 399 and score a $ 75 Walmart gift card, an Emerson 32-inch 720p LCD TV for $ 148 and an LG Blu-ray Player for $ 38. If the store runs out of stock, you’ll receive a Guarantee Card for the item, which you must purchase by midnight and register online.

If shopping online from the comfort of your home is more appealing than elbowing your way through a jam-packed store, Black Friday specials will be posted on Walmart’s website early on Thanksgiving Day. Head to Walmart’s Facebook page or use its mobile app to check out all the deals.

Scroll through the gallery above to see the top 14 tech deals we spotted, and let us know if you’ll be out shopping the specials this Black Friday.

Thumbnail image courtesy of Flickr, el neato

This story originally published on Mashable here.

Tech News Headlines – Yahoo! News

Read More..

Taylor Swift and One Direction's Harry Styles: Are They Dating?

By Patrick Gomez

11/17/2012 at 10:40 PM EST

Taylor Swift and Harry Styles

Janet Mayer/Splash News Online; Don Arnold/Wireimage

Taylor Swift appears to be taking her love life in a new direction.

The "Never Ever Getting Back Together" singer is seemingly taking her lyrics to heart as she moves on from recent ex, Conor Kennedy, and enjoys the company of One Direction hottie Harry Styles.

"I had to literally do a double-take," an onlooker tells PEOPLE of finding Styles, 18, with Swift, 22, on the set of The X Factor Thursday morning.

Styles was on hand to watch Swift rehearse the debut of "State of Grace," which she performed later that night on the Fox reality show.

"He was smiling at her while she rehearsed. When she was done he jumped up on stage, picked her up, put her over his shoulder and carried her off stage," the onlooker says. "The whole crew was really surprised."

The young singers were also spotted by X Factor host Mario Lopez, who says he was slapped on the back by Styles during Swift's rehearsal.

"I said, 'What are you doing here,' " Lopez said on his 104.3 MY FM radio show Friday. "And he sort of [pointed] toward Taylor."

Lopez went on to say he later saw the two "hand-in-hand."

A telling sign of the budding relationship may have been a look Styles shared with his bandmate Niall Horan a week earlier after Horan told PEOPLE his favorite song of 2012 was Swift's "Never Ever Getting Back Together."

When asked if he would ever date Swift, Horan gave a small laugh, looked at Styles and answered with a succinct, "no."

Read More..