“Bennifer” buried as Ben Affleck’s star soars

LOS ANGELES (Reuters) – It has taken 10 years of hard work and indie movies, but Ben Affleck finally has moved past his “Bennifer” nightmare.

Affleck, 40, once a tabloid staple who risked becoming a laughingstock during his romance with Jennifer Lopez and their movie flop “Gigli,” is back on top in Hollywood, winning accolades for his work both in front of and behind the camera.

Fifteen years after Affleck shared an Oscar with Matt Damon for their first screenplay, “Good Will Hunting,” buzz is building over a likely second Academy Award nomination next month. It would be Affleck’s first since 1997.

“Finally, people now are ready to go, ‘Wow! He’s at the very top of the food chain,’” Damon told Reuters.

Affleck’s latest film “Argo,” a part-thriller, part-comedic tale of the real-life rescue of six American diplomats from Iran in 1980, this week picked up five Golden Globe nominations and a nod from the Screen Actors Guild for its top prize of best ensemble cast.

The film, which Affleck directed, produced and stars in, has also delighted critics and brought in some $ 160 million at the worldwide box office.

In “Argo,” Affleck’s clean-cut looks are hidden under a long, shaggy 1970s hair cut and beard as he plays CIA officer Tony Mendez, who devised a fake film project to spirit six hostages out of Tehran after the Islamic revolution.

The kudos Affleck is now receiving follows the embarrassing headlines he attracted over his 2002-2004 romance with Lopez.

“It was tough to watch him get kicked in the teeth for all those years because the perception of him was so not who he actually was,” Damon said.

“It was upsetting for a lot of his friends because he’s the smartest, funnest, nicest, kindest, incredibly talented guy. … So that was tough. Now I’m just thrilled. … He deserves everything that he’s going to get,” he added.

With a huge, pink diamond engagement ring for Lopez and gossip about matching Rolls Royces, the pair dubbed “Bennifer” starred in the 2003 comedy romance “Gigli,” which earned multiple Razzie awards for the worst comedy of the year.

SELLING MAGAZINES NOT MOVIES

Damon, by contrast, was seeing his career surge with “The Bourne Identity,” “Syriana” and “The Departed.” But he recalls Affleck’s pain.

“He said (to me), ‘I am in the absolute worst place you can be. I sell magazines, not movie tickets.’ I remember our agent called up the editor of Us Weekly, begging her not to put him on the cover any more. Please stop. Just stop,” Damon said.

About a year after splitting with Lopez, Affleck married actress Jennifer Garner, had the first of three children with her, and started writing and directing small but admired movies like “Gone Baby Gone” in 2007 and 2010′s gritty crime film “The Town.”

Last month, Affleck was named Entertainment Weekly’s entertainer of the year, largely on the back of “Argo.”

The actor-turned-director said that managing the various tones of the film was his hardest challenge.

“I had to synthesize comedic elements and the political stuff and this true-life drama thriller story. … It was scary and it was daunting,” Affleck told Reuters, saying he powered through by “overworking it by a multiple of ten.”

A trip to the Oscars ceremony in February is now considered a shoo-in by awards pundits, but Affleck is not convinced that success is sweeter the second time around.

“It’s harder. On the one hand, coming from obscurity, you have a neutral starting place. Because of the tabloid press and over exposure, I was starting from a deficit,” he said.

“It can be very unpleasant to be in the midst of a lot of ugliness. But I just put my head down and decided … I was going to work as hard as I could, and I never let the possibility enter my mind that I might fail – at least consciously. Subconsciously, I knew I could fail and I was really scared, so it made me work harder.”

(Additional reporting by Zorianna Kit; Editing by Will Dunham)

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Mental health toll emerges among Sandy survivors

NEW YORK (AP) — The image of his brother trapped in a car with water rising to his neck, his eyes silently pleading for help, is part of a recurring nightmare that wakes Anthony Gatti up, screaming, at night.

Gatti hauled his brother out of the car just in time, saving his life at the height of Superstorm Sandy. The two men rode out the hurricane in their childhood Staten Island home and survived. But weeks afterward, Gatti still hasn’t moved on.

Now he’s living in a tent in the backyard, burning pieces of furniture as firewood, refusing to leave until the place is demolished. Day and night, he is haunted by memories of the storm.

“My mind don’t let me get past the fact that I can’t get him out of the car. And I know I did,” Gatti said, squeezing his eyes tightly shut at the memory. “But my mind don’t let me think that. My mind tells me I couldn’t save him, he dies.”

As communities battered by Sandy clear away the physical wreckage, a new crisis is emerging: the mental and emotional trauma that storm victims, including children, have endured. The extent of the problem is difficult to measure, as many people are too anxious to even leave their homes, wracked by fears of wind and water and parting from their loved ones. Others are too busy dealing with losses of property and livelihood to deal with their grief.

To tackle the problem, government officials are dispatching more than 1,000 crisis counselors to the worst-hit areas in New York and New Jersey, helping victims begin the long work of repairing Sandy’s emotional damage.

Counselors are assuring people that anxiety and insomnia are natural after a disaster. But when the trauma starts to interfere with daily life, it’s probably time to seek help. And in a pattern that played out in New Orleans and the Gulf Coast after Hurricane Katrina in 2005, symptoms may only get worse as victims transition from the initial shock to the disillusionment phase of the recovery.

“Folks are starting to realize that they may be in this for the long haul,” said Eric Hierholzer, a commander in the U.S. Public Health Service. “And things aren’t necessarily going to get better tomorrow or next week.”

At St. John’s Episcopal Hospital in Far Rockaway, the psychiatry department has recorded a 20 percent increase in walk-in patients since the storm hit, with residents reporting the whole gamut of stress-related symptoms. Anxiety. Insomnia. Panic attacks.

Local schools have referred 25 percent more children than usual to the hospital’s outpatient mental health programs.

“The children are very, very traumatized,” said Fern Zagor, who runs the Staten Island Mental Health Society. “They have a hard time making sense of this sudden change in their world. It’s frightening to them.”

A 5-year-old girl who was pulled from floodwaters clinging to her father hasn’t been able to attend kindergarten since the storm, Zagor said, because she’s too traumatized to be parted from him now. An 11-year-old boy is working with counselors after floating in water up to his neck on the second floor of his home for several hours before being rescued.

“This child has said he worries about rain,” Zagor said. “He worries about whether he’ll ever want to swim in a swimming pool again.”

The society is among many mental health providers who are working with Project Hope, a New York crisis counseling program funded by an $ 8.2 million Federal Emergency Management Agency grant that has just begun sending counselors to local communities. New York Gov. Andrew Cuomo’s office estimates the program will help more than 200,000 people.

Project Hope Counselor Yomira Natera has been seeking out storm victims who don’t speak English as their first language.

“We’ve seen an increase in substance with folks who may have language barriers,” she said. “Who may be frustrated with the system, who find it difficult to communicate.”

At least 20,000 people have so far made contact with counselors from the New Jersey Hope and Healing Program, which has dispatched hundreds of state-trained disaster crisis response counselors into the storm zone. The state also launched a hotline for people to call and talk to a counselor.

In Union Beach, N.J., a working-class enclave on Raritan Bay, Kathy Parsells helped coordinate deliveries volunteered at a FEMA recovery center on a recent afternoon, helping to coordinate deliveries. Her daughter and grandchildren had to be rescued during the storm.

“I’m OK,” she said, stifling tears. “My grandsons have nightmares. My grandson, the first night, was screaming: ‘It’s coming up the stairs.’”

Jeannette Van Houten, who lost her home in Union Beach, said in a telephone interview that she feels like she’s going through the same stages of grief that she endured when her niece was murdered in 2008.

“I have days that I can’t put a thought together. Like you start talking and you forget what you’re saying,” said Van Houten, who sleeps just two or three hours on a good night nowadays. “And the numbness, like you look at things that are happening around you, but you’re not part of it.”

The Rev. Matthew Dowling, a pastor at the Monmouth Church of Christ in Tinton Falls, N.J., volunteered as a crisis counselor in the days after the storm and heard a lot of survivor’s remorse from people who were more fortunate than their neighbors. But there was also a great deal of frustration.

“When FEMA arrives, they think everything is going to be fixed,” Dowling said. “The reality is it’s going to take months and months to get back to normal. Just like the steps of grief there’s anger at the new normal.”

Distress calls to LifeNet, New York City’s local crisis hotline, doubled during the first few weeks after the storm hit, averaging more than 2,000 calls per week from people who were angry and worried that basic needs — food, clothing, shelter — had not been met.

Officials are now preparing for a new wave of calls from people struggling with depression and other mental health issues, said Christian Burgess, director of the Disaster Distress Helpline, a national crisis hotline run by the federal government that provides a network of trained counselors in the aftermath of a major disaster.

Coming to grips with the loss of everything she owned has been difficult for Carol Stenquist, who stood outside borough hall in Union Beach, nervously dragging on a cigarette and crying.

“I have anxiety over it. Even when I lay down at night I feel my heart palpitating with the loss of everything,” said Stenquist, whose home was destroyed. “I was there for 20 years.”

She thinks she needs to talk to a professional counselor, but hasn’t sought one out yet.

“I’m kind of afraid that the emotional stuff I feel now is just part of what I’m going to feel when it’s over,” she said. “I’ve had my breakdowns, cries, feelings of depression. I’ve had all of that.”

On Staten Island, volunteers have been quietly stopping by Anthony Gatti’s tent to check in on him during his long vigil, dropping off boxes of cereal and cans of coffee. A volunteer therapist tried to talk him into leaving, but to no avail. He spends his days patrolling the property for looters and gazing at photos of the storm’s destruction on his laptop.

“I keep trying to make him understand. It’s a lot of wood and metal and pipes, that’s all it is,” said his mother, Marge Gatti. “You’ve got to get numb. You gotta get tough. If I’m not numb, I can’t function.”

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UBS faces $1.6 billion fine over Libor rigging: paper

ZURICH (Reuters) – UBS faces a fine of 1.5 billion Swiss francs ($ 1.63 billion) to settle interest rate rigging charges, a Swiss newspaper reported on Saturday.

Citing unnamed sources, Tages-Anzeiger daily said the bank would admit 36 traders around the globe manipulated yen Libor between 2005 and 2010. A UBS spokesman declined to comment.

People familiar with the matter told Reuters on Friday UBS could reach a $ 1-billion-plus settlement and admit to criminal wrongdoing by its Japanese arm, where one of its traders manipulated yen Libor and euroyen contracts.

Between 25 and 30 people have left UBS over the matter, the sources said. The Swiss bank had hoped for a softer touch from regulators by cooperating in industry-wide probes and was surprised by the size of the expected settlement, they added.

A 1.5 billion franc settlement would be the biggest ever paid by the bank, recovering from a $ 2.3-billion trading fraud by London-based trader Kweku Adoboli for which it was fined 30 million pounds ($ 48.36 million) last month.

A settlement would make UBS the second major bank to be sanctioned for its role in the Libor scandal. Britain’s Barclays paid a $ 450 million fine in June.

Libor is the rate used as a benchmark for pricing trillions of dollars worth of financial instruments and contracts around the globe. Tiny shifts in the rate, compiled from daily polls of bankers, could benefit dealers in complex products.

HEADING FOR LOSS

Tages-Anzeiger said the fine, together with restructuring charges of 500 million francs from plans to cut 10,000 staff as UBS winds down its fixed income business, would probably push the bank to a fourth-quarter loss.

UBS had already said costs related to the investment banking overhaul would lead to a fourth-quarter and full-year loss after it posted a third-quarter net loss of 2.172 billion francs. It is due to publish full-year results on February 5.

By admitting to a charge against its Japanese subsidiary, UBS would stop short of admitting wrongdoing at a group level, which could be fatal for a bank as it could lose its license.

Chairman Axel Weber, who joined UBS this year after stepping down as head of the German central bank, has been on a whirlwind diplomatic tour over the probe, the Tages-Anzeiger reported.

Swiss newspapers noted that Mark Branson, now responsible for overseeing big banks for Swiss financial markets regulator Finma, was chief executive of UBS Japan at the time of the alleged rate rigging.

A Finma spokesman said Branson had removed himself from Finma’s investigation into Libor to avoid any appearance of conflict of interest but declined to comment further.

In 2009, UBS paid $ 780 million to settle a messy U.S. investigation into tax evasion by admitting it had helped wealthy Americans evade and cheat on their taxes. ($ 1 = 0.9218 Swiss francs) ($ 1 = 0.6204 British pounds)

(Reporting by Emma Thomasson; editing by Jason Webb)

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Top Canada court upholds anti-terrorism law in unanimous ruling

OTTAWA (Reuters) – Canada‘s Supreme Court on Friday upheld an anti-terrorism law enacted after the September 11, 2001, attacks on the United States, ruling unanimously that those who choose to engage in terrorism must “pay a very heavy price.”

The law’s constitutionality was challenged by Mohammad Momin Khawaja, convicted in Canada of terrorism for involvement with a British group that had plotted unsuccessfully to set off bombs in London.

It was also challenged by two men accused of terrorism by the United States for trying to buy missiles or weapons technology for the Sri Lankan Tamil Tigers.

The court rejected arguments that the law’s definition of terrorism was overly broad. It upheld Khawaja’s life sentence and confirmed the orders to extradite the other two to the United States.

Khawaja, a Canadian of Pakistani descent, was the first to be convicted under the law. He was sentenced in 2008 to 10-1/2 years in prison, and his sentence was then extended to life after appeal by the government.

The trial judge noted that Khawaja referred to Osama Bin Laden as “the most beloved person to me in the … whole world, after Allah.” He was found to have participated in a terrorism training camp in Pakistan and to have designed a device dubbed the “hi fi digimonster” for detonating bombs.

“The appellant was a willing participant in a terrorist group,” Supreme Court Chief Justice Beverley McLachlin wrote in the 7-0 decision, adding that he was “apparently remorseless.”

“He was committed to bringing death on all those opposed to his extremist ideology and took many steps to provide support to the group. The bomb detonators he attempted to build would have killed many civilians had his plans succeeded.”

The law applies to any act committed for a political, religious or ideological purpose with the intention of intimidating the public by causing death or serious bodily harm, or substantial property damage, or causing serious interference with an essential service.

The court also ruled that Canada can proceed to extradite two men the United States has accused of involvement with the Tamil Tigers, which waged a bloody war for independence in Sri Lanka and is considered a terrorist organization by Washington and Ottawa.

The Canadian government declined to comment on when they would be extradited.

Piratheepan Nadarajah was alleged to have tried to purchase surface-to-air missiles and AK-47 assault rifles for the Tamil Tigers from an undercover officer posing as a black-market arms dealer on Long Island, New York.

The other man, Suresh Sriskandarajah, was alleged to have helped Tamil Tigers get electronic equipment, submarine and warship design software and communications equipment.

They surrendered to the government ahead of the court decision, their lawyers said.

BEYOND ‘LEGITIMATE EXPRESSION’

The court disagreed that the federal law’s terrorism provisions had put a chilling effect on Canadians’ freedom of expression and was disproportionately broad.

“Only individuals who go well beyond the legitimate expression of a political, religious or ideological thought, belief or opinion, and instead engage in one of the serious forms of violence – or threaten one of the serious forms of violence – listed (in the law) need fear liability under the terrorism provisions of the Criminal Code,” McLachlin wrote.

She quoted with approval the appeals court decision in the Khawaja case that faulted the Ottawa trial judge’s sentence for failing to send a “clear and unmistakable message that terrorism is reprehensible and those who choose to engage in it will pay a very heavy price.”

The original sentence of 10-1/2 years does “not approach an adequate sentence for such acts,” she concluded.

Khawaja’s lawyer, Lawrence Greenspon, said it was a “terrible day” for his client and said too often people were investigated or prosecuted for their religious or political beliefs.

“It’s a … very unfortunate ruling for minorities in this country, and we’re extremely disappointed with the result,” he told reporters in the foyer of the Supreme Court.

Justice Minister Rob Nicholson said the decision was important as Canada was not immune to the threat of terrorism. “The court sent a strong message that terrorism will not be treated leniently in Canada,” he said.

The cases are Mohammad Momin Khawaja v. Her Majesty the Queen. (Ont) (34103); Suresh Sriskandarajah v. United States of America, Minister of Justice and Attorney General of Canada (34009), Piratheepan Nadarajah v. United States of America, Minister of Justice and Attorney General of Canada (34013).

(Additional reporting by Louise Egan; Editing by Jackie Frank and Xavier Briand)

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Stars Tweet Over Gun Control Following Elementary School Shootings In Connecticut — Updated

Celebrities were outraged over the tragic elementary school shooting in Newtown, Conn. on Friday, and many immediately turned to Twitter, to share their sadness.

And some even urged America’s leaders to address gun control.

PLAY IT NOW: Edward Norton Discusses Tragic Colorado Shootings

“Gun control is our only road to freedom. Freedom from the fear of senselessly losing children. I’m so saddened. WE NEED LAWS NOW,” “Parks and Recreation” actress Rashida Jones Tweeted.

Singer Michelle Branch also touched on the topic in her Tweet, writing, “Gun control people!!! My heart is breaking. As a parent this is my worst nightmare.”

VIEW THE PHOTOS: Stars We Lost In 2012

“Two and a Half Men’s” Holland Taylor wrote, “Just heard re CT shooting coming in from a walk… MY GOD. The “right” to carry concealed weapons … this has become a truly INSANE issue.”

Michael Raymond-James, who plays Neal Cassady on “Once Upon A Time,” also tackled gun control in his Tweet, writing, “Unfortunately, we have more access to assault weapons than we do to quality mental health care. That needs to change. #HowManyMoreTimes.”

Brit Piers Morgan wrote, “Why does any civilian in America need a weapon that can fire 100 rounds of ammunition at rapid speed? Give me ONE good reason?” and added, “#GunControl.”

VIEW THE PHOTOS: General Hospital: Cast Photos & More

Filmmaker Michael Moore Tweeted, “The way to honor these dead children is to demand strict gun control, free mental health care, and an end to violence as public policy.”

“General Hospital” actress Lisa LoCicero also Tweeted about gun control, in the wake of the tragedy, writing, “anyone still not ready for us to err on the side of losing some gun rights at this point, needs to leave the country.”

VIEW THE PHOTOS: ‘Grey’s Anatomy,’ Season 5

“Raising Hope” star Martha Plimpton Tweeted, “When can we talk about it? WHEN? Ever? Never? If not now, when we are staring it in the face, then WHEN? #GunControl.”

Motley Crue singer Vince Neil wrote, “Sad day today. Prayers to all the families. Gun Control!!!”

“True Blood” star Denis O’Hare Tweeted, “When do we get to seriously talk about gun control?”

“Malibu Country” actor Jai Rodriguez also Tweeted about gun control, writing, “Sick over what happened in the world this week. We need better gun laws. My heart goes out to all those affected by the horrors.”

Eric Benet Tweeted, “Half of the U.S. will say,”How dare u bring up gun control at a time like this?!” But the sane half will say,”How dare we not!?” pls RT”

Susan Sarandon wrote, “How much more suffering & loss will it take before we better regulate the sale of arms in our country? Let @NRA know how you feel.”

Jaime King wrote, “We do not have time to wait to tighten gun control- we cannot loose anymore innocent lives. I beg the government to stop F-ing around.”

Jason Biggs Tweeted, “Hey-I love guns. I’ve shot, killed, n eaten my own food-n grown cuz of the experience. But clearly, restrictions need to be put into place.”

Hill Harper ‏Tweeted, “Can we please re-institute the assault weapons ban & a ban on selling high load gun clips.”

Ginnifer Goodwin wrote, “I just emailed my representative & it was super easy. http://m.house.gov/ #guncontrol.”

“General Hospital” star Finola Hughes Tweeted, “I believe that ‘other day’ for debating gun laws is now.”

Mehcad Brook, from the USA series “Necessary Roughness” Tweeted, “Why do we go through more scrutiny getting a driver’s license bcuz cars CAN kill than we do obtaining a gun which ONLY kills?”

Other stars shared their deep sadness over the senseless deaths in Connecticut.

“God have mercy!!!! No one deserves this! Praying for the families of the victims of the Connecticut shooting!! What a Christmas it will be,” Rihanna wrote.

“Everyone reading this PLEASE get on your knees and PRAY for the sweet babies, families, and for everyone hurting in Connecticut right now,” Lady Antebellum singer Hillary Scott Tweeted.

“There have been 31 school shootings since Columbine, 14yrs ago. This time, kindergarteners. #NoWords,” Anika Noni Rose wrote.

Jennifer Hudson Tweeted, “Yal, we need to pray! This can’t keep happening . My mama always said ” if u think you’ve seen it all just keep on living.’”

Oprah Winfrey responded to Jennifer’s Tweet, writing, “@IAMJHUD for sure . Pray and take action.. Another WAKE UP for guns.”

Here’s more of what the stars had to say on Twitter:

Katie Couric: Shocked & saddened to hear this morning’s news… My heart goes out to the families of #SandyHook Elementary children, faculty, staff

Joy Behar: My thoughts and prayers are with the families of Sandy Hook Elementary.

Maksim Chmerkovskiy: I hate the “my heart is with” this and “my prayers go out” that… We ALL need to get f***ing angry and DO something more than ‘feel sad’…

Vivica A. Fox: Wow! It seems like we r gonna have to put metal detectors everywhere and armed guards! Seems like u can’t b safe anywhere!! WTH??

Jack Wagner: OMG prayers 4 those affected by the shooting in Connecticut…so sad

Ian Somerhalder: We are sad.Our hearts,thoughts&help are w/you.Im so sorry to all affected by this.So sorry.May all thelove in the world hug you in this time

Ralph Macchio: There are no words… Prayers #Connecticut

Rachel Dratch: Our weekly mass shootings aren’t happening in other countries. And this time, children? WHEN WILL OUR “LEADERS” PUT AN END TO THIS INSANITY?

Teresa Giudice: On days like this, we should hug our children just a little bit tighter.

Steve Levitan: My thoughts and deepest sympathies are with the victims. I should have said that first, but I’m tired of these tragedies. #standuptothenra

Marlee Matlin: I am numb as the numbers of the dead – children and adults – keep ticking up. #PrayForNewtown

Christina Applegate: There are just no words. Only sorrow. We are all shedding tears today for those families.

Karina Smirnoff: We need to pray for all the families affected by the Newtown, CT school shooting. Absolutely devastating….

Kim Kardashian: These kids come to school to learn, never expecting this tragedy to happen. They didn’t deserve this. Praying for everyone involved!

Brandi Glanville: I can not believe this school shooting, what is wrong with people!!!! My heart is breakking for the kids and families.

Jackie Collins: My heart breaks for the Newtown community…for these families.

Damon Lindelof: I’m not “politicizing” squat. I’m heartbroken, angry, confused and scared and I DO NOT UNDERSTAND WHY THIS KEEPS HAPPENING.

DJ Pauly D: My Prayers Go Out To Everyone Affected By This Horrible Shooting In Connecticut

Copyright 2012 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Shawn Levy’s 21 Laps signs new first look deal with Fox

NEW YORK (TheWrap.com) – Fox has signed a new three-year first look deal with director/producer Shawn Levy‘s 21 Laps, the production company behind “Night at the Museum” and “The Watch,” the companies announced on Wednesday.

21 Laps is already based at Fox, having supplied the studio with several comedy titles over the past few years. While its most recent, “The Watch,” disappointed at the box office, the company has otherwise provided a steady supply of hits.

The original “Night at the Museum leads the pack with $ 570 million at the global box office, while the sequel surpassed $ 400 million.

“Shawn’s boundless energy, ambition and effortless creativity make him the perfect partner,” Emma Watts, Fox’s president of production, said in a statement. “We are lucky he continues to call Fox his home.”

21 Laps has a couple of projects due for release in 2013 – “The Internship,” starring Vince Vaughn and Owen Wilson, and “The Spectacular Now,” starring Miles Teller and Shailene Woodley.

Levy directed “The Internship,” his first job since “Real Steel,” which Disney released. That film debuts June 7.

21 Laps also has several projects in development, including a third installment of “Night at the Museum” and “Project Aloha,” which Levy plans to direct from a script by Nick Stoller. It is also at work on projects beyond Fox, such as “Story of Your Life,” a sci-fi thriller that Nic Mathieu will direct.

In signing a new deal with Fox, 21 Laps also announced a series of promotions. Billy Rosenberg moves up to the Senior Vice President level from Vice President while Dan Cohen rejoins the company from Mandeville as VP.

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Wall Street dips at open on “cliff” overhang

NEW YORK (Reuters) – Stocks were little changed on Friday, with the Nasdaq weighed by a 3-percent drop in shares of tech giant Apple, amid investor worries about a lack of progress by politicians in ongoing fiscal negotiations.

Apple was down 2.8 percent at $ 515.11 as UBS cut its price target to $ 700 from $ 780. The stock has tumbled in recent months for a variety of reasons, including investors locking in profits ahead of scheduled capital-gains increases for next year.

President Barack Obama and House of Representatives Speaker John Boehner held a “frank” meeting Thursday to try to break an impasse in negotiations over the “fiscal cliff,” tax hikes and spending cuts set to kick in early in 2013.

“The uncertainty that (the fiscal talks) is creating is basically holding the markets hostage in the short term,” said Andres Garcia-Amaya, global market strategist at J.P. Morgan Funds, in New York.

Frustration has mounted over the lack of progress in the discussions, with market participants’ worries reflected in a 0.6 percent drop in the S&P 500 on Thursday. Investors are concerned that going over the cliff could tip the economy back into recession. While a deal is expected to ultimately be reached, a drawn-out debate – like the one seen over 2011′s debt ceiling – can erode confidence.

Still, expectations of an eventual agreement have helped the S&P 500 bounce back over the last month, and on Wednesday, the index hit its highest intraday level since late October. For the year, the S&P has advanced more than 12 percent.

“For the end of this year, I wouldn’t expect a lot of big decisions by investors,” Garcia-Amaya said. “It’s been a fairly good year for equities and for that reason a lot of people don’t want to be a hero going into the end of the year.”

The Dow Jones industrial average <.dji> edged up 11.05 points, or 0.08 percent, at 13,181.77. The Standard & Poor’s 500 Index <.spx> slipped 2.49 points, or 0.18 percent, to 1,416.96. The Nasdaq Composite Index <.ixic> lost 12.62 points, or 0.42 percent, to 2,979.54.</.ixic></.spx></.dji>

Best Buy Co Inc slid more than 15 percent to $ 11.90 after it agreed to extend the deadline for the company’s founder to make bid.

Consumer prices fell in November for the first time in six months, indicating U.S. inflation pressures were muted. A separate report showed manufacturing grew at its swiftest pace in eight months in December.

Meanwhile, data out of China was encouraging for its key trading partners, including the U.S., and for the prospects for global growth. It showed manufacturing in the world’s second-largest economy grew at its fastest pace in 14 months in December.

(Editing by Bernadette Baum)

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UPDATE 3-Cricket-Hughes shines as Australia reach 299-4

* Hughes falls just short of century

* Clarke and Hussey combine for 101

* Welegedera takes 3-99 (Adds quotes)

HOBART, Dec 14 (Reuters) – Phil Hughes made a solid 86 on his return to test cricket before Michael Clarke and Mike Hussey took up the running and steered Australia to 299 for four at close of play on the first day of the first test against Sri Lanka on Friday.

Hughes was the only batsmen to fall in the final session, lasting only a couple of overs after lunch before being bowled through the gate by Chanaka Welegedera, giving the Sri Lankan seamer his third wicket of the day.

Clarke, who had made 70 not out, and Hussey, unbeaten on 37, batted through the remainder of the day and if the evidence of their prolific partnerships in the recent series against South Africa is anything to go by, will take some shifting.

“Overall, 299 for four puts the ball in our court,” said Hughes. “I thought we were outstanding today. It really gives us momentum going into tomorrow.”

Sri Lanka’s bowlers, dubbed this week as the worst pace attack ever to tour Australia by former test bowler Rodney Hogg, made life uncomfortable for the batsmen at times but struggled for any real penetration under cloudy skies at Bellerive Oval.

“I think we showed we can put Australia under pressure and hopefully the bowlers will be fresh in the morning and we can get them out for less than 100 additional runs,” said Welegedera, who finished with 3-99 on his return after nine months out injured.

Clarke, who passed 1,400 runs for the year, has now put on 731 runs in partnerships with Hussey in the last four tests and will be looking to plunder a few more on Saturday despite taking a couple of painful knocks to his legs.

Friday, however, belonged to Hughes.

The lefthander was recalled to the side on the back of good domestic form following the retirement of Ricky Ponting at the end of the series against the Proteas.

The 24-year-old reached his fourth test half century with a square drive for three runs and then initially accelerated towards a century, most notably with an ugly but effective slog for six off spinner Rangana Herath.

CALAMITOUS RUNOUT

On the ground where his second spell as a test batsman ended amid questions about his technique after two failures against New Zealand last year, Hughes scored eight fours and one six in his 166-ball knock before Welegedera struck with a superb ball.

“It was nice to get a few,” he said. “It would have been nice to get a few more and get into three figures.”

Australia had lost openers Ed Cowan (four) and David Warner in the opening session, the latter run out for 57 on the stroke of lunch after a calamitous misunderstanding with Hughes.

Shane Watson, dropping down to fourth in the batting order to allow Hughes to come in at number three, followed them to the pavilion for 30 shortly before tea, the victim of an exceptional diving catch in the slips by skipper Mahela Jayawardene.

That was a second wicket for Welegedera and a measure of redemption for the bowler after he had Hughes caught behind for 77 only for the umpire to call a no ball.

Welegedera had also made the early breakthrough for the tourists when Cowan tried to pull a short delivery only for the ball to catch him high on the bat and carry to mid-on where Shaminda Eranga took a simple catch.

It could have been even better for the Sri Lankans, who were only centimetres away from the perfect start to the morning after Clarke had won the toss and elected to bat.

Cowan edged the second delivery of the day from Nuwan Kulasekara to the slips but Angelo Mathews was just unable to get his hands to it, despite an athletic dive. (Editing by Peter Rutherford)

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Online gambling companies struggle to clear EU hurdles

LONDON (Reuters) – A partnership stuck on Friday between bwin.party Digital Entertainment and a Belgian casino group has defused one of many disputes pitting online gambling companies against governments across Europe.

The agreement came a month after bwin.party’s co-CEO was questioned by Belgian authorities in an escalating license dispute the company said was costing it 700,000 euros ($ 916,000) in monthly revenue.

By joining forces with Belcasinos, a unit of local casino owner Group Partouche, bwin.party neatly met a requirement to have a presence in Belgium to win a license for online poker, casino and sports betting.

The agreement is a rare bright spot in a tough regulatory environment for online gambling companies across the continent.

Betting online on sports events or playing poker on the Internet are increasingly popular pastimes in Europe, where operators say they are held back by unfair and discriminatory rules in many European Union countries.

“It is not a European Union in any way, it is a patchwork of different countries who happen to be in the EU,” said Professor Leighton Vaughan Williams, director of the betting research unit at Nottingham Business School in central England.

“Different countries have different vested interests and different ideas they are trying to promote. Are they trying to protect consumers or to maximize their tax take?” he said.

The 27 EU member states retain the right to regulate their gambling sectors as they see fit, but rules must comply with EU law, broadly meaning they must be consistent and proportionate.

Some companies are scaling back activities in European markets where, they say, regulatory risks are too high or tax rates are punitive.

Betting exchange operator Betfair for instance said this week it was halting marketing and investment in unregulated markets, including EU members Cyprus, Germany and Greece.

William Hill, Britain‘s largest bookmaker, has joined Betfair in pulling out of Greece and has also stopped offering sports betting to German residents because of a 5 percent turnover tax.

STAKES RISE

The stakes are high. Online gambling is growing at an annual rate of almost 15 percent in the EU and will be worth an estimated 13 billion euros ($ 17 billion) by 2015, according to EU figures.

The European Commission, the EU’s executive, stepped in to the debate in October when it published a medium-term plan to clarify regulations and promote cooperation between member states, ruling out EU-wide legislation for the time being.

“All citizens must be adequately protected, money laundering and fraud must be prevented, sport must be safeguarded against betting-related match-fixing and national rules must comply with EU law,” Internal Market and Services Commissioner Michel Barnier said, setting out his approach.

The online operators accuse the European Commission of failing to follow through properly on complaints lodged about regulation in no fewer than 20 or the 27 EU member states.

Barnier has written to member states accused of breaching EU law in the way they handle gambling, seeking an update on the situation by the end of the year.

However, the industry questions whether the EU will go into battle over gambling when it is facing so many other problems.

“They will chip away at some of the most blatant ones,” said Clive Hawkswood, chief executive of trade body the Remote Gambling Association. “What we really need is for them to take some to the European Court and take enforcement action.”

BRITISH TAXES

Gambling companies themselves have taken advantage of different tax regimes where they work in their favor.

This is illustrated in Britain, historically the biggest betting market in Europe and a place with a well-developed gambling culture where bookmakers have operated in town centers for 50 years.

In recent years, most betting companies have moved their British online betting operations to Britain’s overseas territory of Gibraltar. There they are sheltered from a 15 percent tax on gross profit faced by operators based in Britain.

New legislation will close off that loophole after 2014. The shift to a taxation model based on the location of the consumer was expected to cost gambling companies as much as 270 million pounds ($ 435 million) by 2016-17.

Analyst Nick Batram at brokerage Peel Hunt said smaller players would likely be picked off because of the impact of higher tax and regulatory burdens across Europe.

“It is getting more complicated and more expensive. There is more change afoot but it should ultimately play into the hands of the better-capitalized companies.”

In that vein, William Hill has provisionally agreed a 485 million pound takeover of smaller rival Sportingbet, keen to get its hands on the company’s regulated Australian betting business.

“I think there is a lot more M&A activity to come,” said Batram.

(Additional reporting by Rosalba O’Brien; Editing by David Holmes)

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Britney Spears, Taylor Swift are top-earning women in music

NEW YORK (Reuters) – Pop star Britney Spears edged past Taylor Swift to claim the title of top-earning woman in music after bringing in an estimated $ 58 million from her album, endorsements and a perfume in the past year, Forbes said on Wednesday.

Country-pop singer Swift, 22, was a close second with an estimated $ 57 million paycheck thanks to her tour – which made more than $ 1 million each night – a contract with CoverGirl cosmetics, her own line of fragrances and her new album “Red.”

R&B star Rihanna, 24, earned an estimated $ 53 million to put her at No. 3, two places up from last year, followed by Lady Gaga, 26, who slipped from No. 1 in 2011 to fourth place with $ 52 million.

Katy Perry, 28, the only musician other than Michael Jackson to produce five No. 1 hit singles from one album, rounded out the top five with about $ 45 million in earnings.

“I think people love the comeback story – Britney never really finished her run as a superstar,” Steve Stoute, marketing expert and author of “The Tanning of America” told Forbes.

Spears, 31, who was No. 10 last year, earned most of her money from her latest album “Femme Fatale” and her tour, according to Forbes, which compiled the list with estimated earnings from May 2011 to May 2012.

In September, Spears became a judge on the reality TV singing show “The X Factor,” reportedly for $ 15 million.

Despite their huge incomes, only eight of the top women music earners were among the 25 best-paid musicians, which Forbes attributes in part to career breaks to have children.

Madonna made the list in ninth place with an estimated $ 30 million in earnings, which did not include profits from her latest tour because it was outside the time period considered for the ranking.

Forbes compiled the list after estimating pretax income based on record sales, touring information merchandise sales and interviews with concert promoters, lawyers and managers.

The full list can be found at http://www.forbes.com/sites/zackomalleygreenburg/2012/12/12/the-top-earning-women-in-music-2012/

(Reporting by Patricia Reaney; Editing by Nick Zieminski and Maureen Bavdek)

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Best Pals Paralyzed Just 2 Years Apart

Alan Brown had just wrapped up a fundraiser for his high school best friend, Danny Heumann, who had been paralyzed after he broke his back in a car accident.

“We were 18 years old, ready to live life,” said Brown, who became his friend’s caregiver, staying by his side at New York City‘s Rusk Institute after the 1985 accident.

But just six weeks after he had helped raise $ 15,000 for his friend’s new foundation, Brown himself suffered a cruel twist of fate. He, too, was paralyzed after diving into the surf on a Club Med vacation in Martinique. It was Jan. 2, 1988, a bit more than two years after Heumann’s accident.

Brown said that he quite literally “saw the light” when he shattered his neck. The undertow threw him head-first against the ocean floor.

“I heard it snap,” he said. “I was under water two or three minutes holding my breath to survive. But I thought this was it.”

He never lost consciousness and remembered from his friend’s accident not to be jostled, so he refused a ride in the bumpy ambulance until he could be airlifted to the hospital. En route, he said he quoted lines from the comedy film, “Fletch” — “It’s all ball bearings.”

Just short of his 21st birthday, he lost the use of his legs, but not his sense of humor or his drive.

Today, at 45, Brown says he is doing what he has always done best: facing a challenge.

He has pledged to raise $ 250,000 — $ 25,000 for each year he has been paralyzed — for the Christopher and Dana Reeve Foundation. His one-year campaign is aptly named the “Power of We.”

“There’s no ego here — we’re building an army,” said Brown, who is director of impact for the Reeve Foundation. “Spinal cord injuries don’t discriminate. In one split second my life changed.”

Both Heumann and Brown now sit on the board of the Reeve Foundation.

An estimated 5.6 million Americans live with some form of paralysis, according to Centers for Disease Control and Prevention, and most, like Brown, were injured when they were young.

The Reeve Foundation has become the “hub” of most of the research and advocacy for those who suffer from paralysis. It is named for the actor Christopher Reeve, who was injured in a horseback riding accident and died in 2004. His wife, Dana, worked with him and chaired the foundation; she died in 2006.

Spinal cord research is “painstakingly slow and expensive,” according to Susan Howley, executive vice-president of research at the Reeve Foundation. And there are never any quick fixes.

But this is a pivotal time in research and more is being done to improve quality of life and independence for those who are paralyzed.

“It’s actually a phenomenally interesting and exciting time in the field of spinal cord research,” said Howley. “The old dogmas haven’t really been overturned for a very long time.”

As recently as two decades ago, an injured adult was never expected to recover. Today, scientists are discovering activity-based exercise or locomotor training that can “remind” the spinal cord how to step and stand again, she said.

But being wheelchair-bound is only part of the medical, psychological and financial challenge of a spinal cord injury.

Depending on the severity of the injury, the yearly expense for treatment can be anywhere from $ 300,000 to nearly $ 1 million, according to The University of Alabama National Spinal Cord Injury Statistical Center and the Centers for Disease Control and Prevention.

The lifetime cost of caring for a 25-year-old can range from $ 1.5 to $ 4 million.

Pain, Bladder and Skin Issues Plague Those With Paralysis

The secondary effects of spinal cord injuries are as challenging as the mobility issues: constant pain, bowel and bladder issues, and skin problems; shoulder and back injuries from years of strain and aging in a wheelchair.

“There are so many of them,” said Brown. “Care giving and the psychological are part of it — developing your own confidence to face the world. Some people don’t even want to leave their homes.”

Brown’s generation is the first to even survive spinal cord injuries. “There is no road map for us,” he said. “In the past, if they didn’t die, they were put away in a nursing home to die.”

Relationships are tested; Brown said his own marriage broke up.

Since the early days of treatment at Jackson Memorial in Miami and later in outpatient therapy at Mt. Sinai Hospital in New York City, his humor has kept him going.

“They put me in a halo backwards and had to unscrew it and screw it back into my head,” said Brown. “I laughed the entire time. I laughed every day and cried every day.”

He said he learned to hold his breath so the nurses would talk to him.

Laughter has carried him through six surgeries and physical ordeals. “I am an emergency room frequent flyer,” Brown jokes.

He has 11 screws and two metal plates that were inserted after his neck was rebuilt.

“Technically I’m three people,” said Brown. “My head is screwed on, my body is in the middle and there is my soul.”

Brown has always been a giver — as a child growing up in a Jewish family in New York City, he used to help prepare dead bodies for burial — “one of the biggest mitzvahs,” he said.

“I was always a person who wanted to overcome, an overachiever,” he said. “I wasn’t a great student, but I was there by your side. I would help the elderly at Rosh Hashanah — it’s in my make-up.”

While he was still bedridden and his health was touch and go, Brown asked his rabbi what he would say in a eulogy. The rabbi told Brown he had the “spirit to help others.”

Today he says he leads a full life, helping to raise his two sons, Max, 15, and Sam, 10.

Brown uses a power wheelchair and has difficulty using his hands. He said he battles constant pain, but is able to get himself in and out of the chair and drives a car.

A former hockey player, Brown keeps fit. He participates in marathons in his wheelchair and has tried both scuba and sky diving.

Professionally, Brown has worked his entire life — at public relations, recruiting NFL players for ad campaigns and even running a radio station.

“Nothing will ever stop me,” said Brown, who has also begun a book.

He confesses he doesn’t sleep much, especially with an eye to the fundraising campaign for the Reeve Foundation.

“There totally is hope,” he said when talking about medical advances. “Cures come in different shapes and sizes. A lot of us would take just not being in pain.”

Meanwhile, Brown’s attitude and energy astound his colleagues.

“Alan lives with his injury day in and day out,” said Howley at the Reeve Foundation. “He, better than anyone else, understands what the challenges and needs are. He is so articulate and compassionate. We are very lucky. God bless him.”

For more information and to help, go to the donor page for the Alan T. Brown Power of We Campaign.

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Airlines: 2013 profits to rise thanks to cost cuts

GENEVA (AP) — Airlines‘ profits will improve to $ 8.4 billion in 2013, mainly reflecting cost cuts and restructuring measures taken to compensate for stalling economic growth, the global industry‘s trade group forecast Thursday.

For 2012, the industry anticipates net profits of $ 6.7 billion based on strong second and third quarters — particularly for larger carriers with bigger economies of scale — despite high fuel prices and weaker demand.

But the 2013 results would still be below the $ 8.8 billion earned in 2011 and $ 15.8 billion in 2010. The net profit margin, at 1 percent, would also be well below the 7 to 8 percent officials say is needed to recover capital costs.

The International Air Transport Association‘s annual review focused on the impact of annual world economic growth falling below 2 percent and Brent crude oil trading at $ 109.5 a barrel.

“Airlines have adjusted to this difficult environment through improving efficiency and restructuring,” said Tony Tyler, chief executive of the Geneva-based global trade group.

Tyler told reporters in Geneva that airlines’ financial performance hinged partly on their size.

“Economies of scale are helping larger airlines to cope much better with the difficult environment than small and medium-sized carriers which continue to struggle,” he said.

IATA, whose 240 member airlines carry 84 percent of all passengers and cargo, said the industry’s overall revenue in 2013 is expected to rise to $ 659 billion from $ 637 billion this year, while costs will go up to $ 640 billion from $ 623 billion.

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Aides: Chavez in tough fight, may miss swearing-in

CARACAS, Venezuela (AP) — Somber confidants of President Hugo Chavez say he is going through a difficult recovery after cancer surgery in Cuba, and one close ally is warning Venezuelans that their leader may not make it back for his swearing-in next month.

Information Minister Ernesto Villegas said Wednesday night that Chavez was in “stable condition” and was with close relatives in Havana. Reading a statement, he said the government invites people to “accompany President Chavez in this new test with their prayers.”

Villegas expressed hope about the president returning home for his Jan. 10 swearing-in for a new six-year term, but said in a written message on a government website that if Chavez doesn’t make it, “our people should be prepared to understand it.”

Villegas said it would be irresponsible to hide news about the “delicateness of the current moment and the days to come.” He asked Venezuelans to see Chavez’s condition as “when we have a sick father, in a delicate situation after four surgeries in a year and a half.”

Moving to prepare the public for the possibility of more bad news, Vice President Nicolas Maduro looked grim when he acknowledged that Chavez faced a “complex and hard” process after his latest surgery.

At the same time, officials sought to show a united front amid the growing worries about Chavez’s health and Venezuela’s future. Key leaders of Chavez’s party and military officers appeared together on television as Maduro gave updates on Chavez’s condition.

“We’re more united than ever,” said Maduro, who was flanked by National Assembly President Diosdado Cabello and Oil Minister Rafael Ramirez, both key members of Chavez’s inner circle. “We’re united in loyalty to Chavez.”

Analysts say Maduro could eventually face challenges in trying to hold together the president’s diverse “Chavismo” movement, which includes groups from radical leftists to moderates, as well as military factions.

Tapped by the 58-year-old president over the weekend as his chosen political heir, Maduro is considered to be a member of radical left wing of Chavez’s movement that is closely aligned with Cuba’s communist government.

Cabello, a former military officer who also wields power within Chavez’s movement, shared the spotlight with Maduro by speaking at a Mass for Chavez’s health at a military base.

Just returned from being with Chavez for the operation, Cabello called the president “invincible” but said “that man who is in Havana … is fighting a battle for his life.”

After Chavez’s six-hour operation Tuesday, Venezuelan television broadcast religious services where people prayed for Chavez, interspersed with campaign rallies for upcoming gubernatorial elections.

On the streets of Caracas, people on both sides of the country’s deep political divide voiced concerns about Chavez’s condition and what might happen if he died.

At campaign rallies ahead of Sunday’s gubernatorial elections, Chavez’s candidates urged Venezuelans to vote for pro-government candidates while they also called for the president to get well.

“Onward, Commander!” gubernatorial candidate Elias Jaua shouted to a crowd of supporters at a rally Wednesday. Many observers said it was likely Chavez’s candidates could get a boost from their supporters’ outpouring of sympathy for Chavez.

Opposition leader Henrique Capriles, who lost to Chavez in the October presidential election and is running against Jaua, complained Wednesday that Chavez’s allies are taking advantage of the president’s health problems to try to rally support. He took issue with Jaua’s statement to supporters that “we have to vote so that the president recovers.”

Maduro looked sad as he spoke on television, his voice hoarse and cracked at times after meeting in the pre-dawn hours with Cabello and Ramirez. The pair returned to Venezuela about 3 a.m. after accompanying Chavez to Cuba for his surgery.

“It was a complex, difficult, delicate operation,” Maduro said. “The post-operative process is also going to be a complex and hard process.”

Without giving details, Maduro reiterated Chavez’s recent remarks that the surgery presented risks and that people should be prepared for any “difficult scenarios.”

The constitution says presidents should be sworn in before the National Assembly, and if that’s not possible then before the Supreme Court.

Former Supreme Court magistrate Roman Duque Corredor said a president cannot delegate the swearing-in to anyone else and cannot take the oath of office outside Venezuela. A president could still be sworn in even if temporarily incapacitated, but would need to be conscious and in Venezuela, Duque told The Associated Press.

If a president-elect is declared incapacitated by lawmakers and is unable to be sworn in, the National Assembly president would temporarily take charge of the government and a new presidential vote must be held within 30 days, Duque said.

Chavez said Saturday that if an election had to be held, Maduro should be elected president.

The dramatic events of this week, with Chavez suddenly taking a turn for the worse, had some Venezuelans wondering whether they were being told the truth because just a few months ago the president was running for his fourth presidential term and had said he was free of cancer.

Lawyer Maria Alicia Altuve, who was out in bustling crowds in a shopping district of downtown Caracas, said it seemed odd how Maduro wept at a political rally while talking about Chavez.

“He cries on television to set up a drama, so that people go vote for poor Chavez,” Altuve said. “So we don’t know if this illness is for that, or if it’s that this man is truly sick.”

Some Chavez supporters said they found it hard to think about losing the president and worried about the future. His admirers held prayer vigils in Caracas and other cities this week, holding pictures and singing hymns.

Chavez has undergone four cancer-related surgeries since June 2011. He has also undergone months of chemotherapy and radiation treatments. Throughout his treatments, Chavez has kept secret some details of his illness, including the exact location and type of the tumors.

Ecuadorean President Rafael Correa wished his close ally the best, while also acknowledging the possibility that cancer might end his presidency. “Chavez is very important for Latin America, but if he can’t continue at the head of Venezuela, the processes of change have to continue,” Correa said at a news conference in Quito.

___

Associated Press writer Christopher Toothaker contributed to this report.

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iPad mini deemed a ‘game changer,’ outgrew Kindle Fire by nearly 50%

Smaller tablets in the 7-inch range have been on the market for more than two years now, but it looks like it took Apple (AAPL) just one month to vault to the top of the category. Mobile advertising firm Millennial Media recently published the findings of a study pitting the iPad mini against Amazon’s (AMZN) popular Kindle Fire, which has been an extremely popular iPad alternative since it first launched last year. According to Millennial, iPad mini usage grew about 50% faster during early November than the Kindle Fire did immediately following its successful launch last year, as measured by ad impressions served by the firm’s network.

Millennial found that impressions served to the iPad mini in early November grew at an average daily rate of 28%. In the weeks following the Kindle Fire’s launch last year, usage of Amazon’s tablet grew roughly 19% each day.

“In the first weeks after the iPad mini went on sale, we saw an average daily growth in impressions of 28 percent. Last holiday season, Amazon launched the Kindle Fire to much anticipation, Millennial Media’s Matt Mills wrote on the company’s blog. “As a comparison, we saw Kindle Fire impressions grow at an average daily rate of 19 percent in the first two weeks after it went on sale last year. So, by our math it looks like Apple could have itself another massive holiday season.”

Mills called the iPad mini a “game changer” and said he expects “a massive amount” of iPad mini tablets to be given as gifts this holiday season.

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TV’s “Storage Wars” is rigged, fired cast member charges

LOS ANGELES (Reuters) – The popular TV show “Storage Wars” – in which treasure hunters bid to buy unseen items in abandoned units – is rigged, with producers sometimes planting valuable items among the junk, a former contestant said in a lawsuit on Tuesday.

David Hester, one of the reality TV show‘s longest-serving cast members, said producers buried a BMW Mini under trash in one unit featured in the A&E cable series, and a pile of newspapers announcing the death of Elvis Presley in another.

“A&E regularly plants valuable items or memorabilia,” Hester charged in his lawsuit, filed in Los Angeles Superior Court on Tuesday against the cable channel and the show’s producers.

When he complained, Hester was fired from the show. He is claiming fraud, wrongful dismissal, breach of contract and unfair business practices, and asking for at least $ 750,000 in damages.

A&E declined to comment on the lawsuit on Tuesday, saying it did not comment on pending litigation.

“Storage Wars,” which made its debut in 2010, is the highest-rated non-fiction program on U.S. cable television, and draws about 5 million viewers per episode. It is also broadcast in Canada, Australia, Britain and other countries.

The show follows a group of modern treasure-hunters who compete at public auctions of abandoned storage lockers in the hope of finding valuable items which they can re-sell for a profit.

Hester said that “nearly every aspect of the show is faked.” He said producers regularly place in the lockers “valuable or unusual effects to add dramatic effect” and sometimes stage entire units, according to the lawsuit.

Hester, who lives in Orange County, California, has been featured on the show since 2010. He was fired in October 2012 shortly after a meeting in which he complained about rigging in a meeting with producers, the lawsuit says.

A&E Television Networks is a joint venture of the Hearst Corporation and Disney-ABC Television – a unit of Walt Disney Co.

(Reporting By Jill Serjeant; Editing by Eric Walsh)

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Medicines Co to spend $300 million to boost hospital products line

(Reuters) – Medicines Company, a maker of drugs used in hospitals, will spend about $ 300 million in two deals to bulk up its surgical care products portfolio.

The company will pay $ 105 million upfront for a two-year license to market Bristol-Myers Squibb Company‘s device to control bleeding during surgery.

Medicines Co also said it agreed to pay $ 185 million to acquire privately held Incline Therapeutics, which is developing a device to manage post-operative pain.

“Both assets fit well with Medicines Co’s current hospital franchise. It follows the company’s historical ability to bring in interesting assets that may need further work, but can be picked up at a reasonable price because they could need more development,” RBC Capital Markets analyst Adnan Butt said.

The deal with Bristol gives Medicines Co the option to acquire the device, Recothrom, for a price based on average net sales during the two-year collaboration term.

Bristol recorded net revenue of $ 65 million from the Recothrom sales in the United States and Canada in 2011. It will be the manufacturer and sole supplier of Recothrom during the deal term.

Medicines Co would also pay an upfront option fee of $ 10 million to Bristol and tiered royalties on annual net revenue of the device during the term.

The deal is expected to add to Medicines Co’s earnings per share in 2013, and add minimally to Bristol’s earnings per share in 2013 and 2014, both companies said in a joint statement.

Redwood City, California-based Incline is developing a patient-controlled analgesia system called IONSYS for short-term management of acute post-operative pain in hospitals. The device was launched in Europe, but recalled later on stability issues.

“We expect that if we obtain IONSYS approval, we could launch IONSYS in early 2014 in the United States and soon thereafter in Europe,” Medicines Co’s Chief Financial Officer Glenn Sblendorio said.

San Diego, California-based Cadence Pharmaceuticals Inc had an exclusive option to buy Incline, which it ended on Wednesday.

Cadence said it will receive about $ 13 million for the termination of its agreement with Incline.

Medicines Co will also pay about $ 1.5 million to buy out Cadence’s holdings in Incline and potentially a pro rata share of future milestone payments, Cadence said.

Medicines Co’s shares closed at $ 21.85 on Tuesday on the Nasdaq.

(Reporting by Zeba Siddiqui in Bangalore; Editing by Roshni Menon)

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The Home Foreclosure Wave That Wasn’t

When banks pulled back on foreclosures two years ago following a government investigation into faulty paperwork by lenders, Wall Street analysts, academics, and researchers thought the lull would be followed by a storm. They believed that once banks resolved the claims of delinquent homeowners piling up in courts and worked through their backlog of foreclosures, tens of thousands of houses would hit the market, driving down prices for years to come.

It never happened—even after the five biggest U.S. mortgage servicers reached a $ 25 billion settlement with federal and state regulators in February. Instead, the number of residential properties for sale in the U.S. shrank to the lowest level in a decade, while prices have appreciated at the fastest pace since 2005. An index of pending home resales compiled by the National Association of Realtors climbed 5.2 percent in October, the most recent month for which data are available. The median price of an existing home sold in October jumped 11 percent from a year earlier, to $ 178,600, the steepest annual increase since November 2005, according to the group. “Many of us, myself included, feared a wave of foreclosures when the settlement came,” says Susan Wachter, professor of real estate and finance at the University of Pennsylvania’s Wharton School. “I was wrong.”

One reason she and her fellow real estate watchers got it wrong was that in the wake of the settlement, banks were compelled to cut more deals with strapped homeowners. Since March, the five largest U.S. mortgage servicers provided loan relief to 309,385 borrowers, according to a Nov. 19 report by Joseph Smith, who heads the independent office established to monitor compliance with the settlement. Almost 22,000 borrowers had principal forgiveness totaling $ 2.55 billion. And 113,000 borrowers won bank approval for short sales, yielding another $ 13.1 billion in principal writedowns.

Federal government loan-modification programs are also gaining traction as the economy improves and fewer reworked loans re-default. Record low interest rates have triggered a spike in mortgage refinancings, which has helped homeowners stay current on their loans by lowering monthly payments. At the same time, institutional investors including Blackstone Group (BX) and Colony Capital have been purchasing thousands of foreclosed homes in bulk before they even hit the market and then renting the properties out instead of reselling them. The Federal Reserve Bank of New York had estimated that as many as 1.8 million properties would be taken back by banks in 2012. Yet through October, there have been only about 559,000 home seizures, according to RealtyTrac.

“In hindsight, by delaying and prolonging the foreclosure process, that gave the market time to stabilize and get back on its feet,” says Daren Blomquist, vice president of RealtyTrac, which warned a year ago that huge numbers of foreclosed homes were going to hit the market. “Maybe bureaucracy is actually helping, in this case, to diffuse the impact of the foreclosures. Talk about unintended consequences.”

In Stockton, Calif., one of the U.S. cities hit hardest by the housing crisis, the number of homes for sale fell 42 percent in October from a year earlier, thanks in part to a 21 percent decline in foreclosure filings over the same period. Listings routinely attract multiple offers, and prices are on the rise. “We don’t have enough homes now to meet the needs of the market,” says Paul Jacobson, a Stockton native and real estate broker for 22 years, as he cruises the city’s northern fringe, where suburbia meets farmland. “People see a foreclosed home for sale in this area and they’re going to jump on it.”

Stockton resident William Hoeurn last month secured a $ 337,906 principal reduction on his mortgage from Bank of America (BAC), shrinking monthly payments on his three-bedroom house to $ 884 from $ 2,362. The 66-year-old teaching assistant fell behind on his loan payments after his wife lost her job and two of his grown children, who helped pay the mortgage, moved out. “Before, I was having bad dreams that I am losing my house,” says Hoeurn, a refugee from Cambodia. “Now, I feel very happy.”

It still may be a little early to pronounce the housing slump over. Almost a quarter of all U.S. homeowners with a mortgage owe more than their homes are worth, making them candidates for future defaults. Robert Shiller, an economics professor at Yale University and co-creator of the S&P Case-Shiller home price indexes, believes the inventory of potential foreclosures remains a threat across the U.S., especially if the economy slows. “It’s funny how people have so much confidence in the recovery. History shows that these markets are hard to predict.”

The bottom line: The number of properties for sale has shrunk to the lowest level in a decade, easing concerns about a new wave of foreclosures.

With Jody Shenn

Businessweek.com — Top News

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North Korea’s new leader burnishes credentials with rocket

SEOUL/TOKYO (Reuters) – North Korea successfully launched a rocket on Wednesday, boosting the credentials of its new leader and stepping up the threat the isolated and impoverished state poses to its opponents.

The rocket, which North Korea says put a weather satellite into orbit, has been labeled by the United States, South Korea and Japan as a test of technology that could one day deliver a nuclear warhead capable of hitting targets as far as the continental United States.

“The satellite has entered the planned orbit,” a North Korean television news-reader clad in traditional Korean garb triumphantly announced, after which the station played patriotic songs with the lyrics “Chosun (Korea) does what it says”.

The rocket was launched just before 10 a.m. Korea time (9 p.m. ET on Tuesday), according to defense officials in South Korea and Japan, and easily surpassed a failed April launch that flew for less than two minutes.

The North American Aerospace Defense Command (NORAD) said that it “deployed an object that appeared to achieve orbit”, the first time an independent body has verified North Korean claims.

North Korea followed what it said was a similar successful launch in 2009 with a nuclear test that prompted the United Nations Security Council to stiffen sanctions that it originally imposed in 2006 after the North’s first nuclear test.

The state is banned from developing nuclear and missile-related technology under U.N. resolutions, although Kim Jong-un, the youthful head of state who took power a year ago, is believed to have continued the state’s “military first” programs put into place by his deceased father Kim Jong-il.

North Korea lauded Wednesday’s launch as celebrating the prowess of all three Kims to rule since it was founded in 1948.

“At a time when great yearnings and reverence for Kim Jong-il pervade the whole country, its scientists and technicians brilliantly carried out his behests to launch a scientific and technological satellite in 2012, the year marking the 100th birth anniversary of President Kim Il Sung,” its KCNA news agency said.

Washington condemned Wednesday’s launch as a “provocative action” and breach of U.N. rules, while Japan’s U.N. envoy called for a Security Council meeting. However, diplomats say further tough sanctions are unlikely to be agreed at the body as China, the North’s only major ally, will oppose them.

“The international community must work in a concerted fashion to send North Korea a clear message that its violations of United Nations Security Council resolutions have consequences,” the White House said in a statement.

Japan’s likely next prime minister, Shinzo Abe, who is leading in opinion polls ahead of an election on December 16 and who is known as a North Korea hawk, called on the United Nations to adopt a resolution “strongly criticizing” Pyongyang.

BEIJING BLOCK

China had expressed “deep concern” prior to the launch which was announced a day after a top politburo member, representing new Chinese leader Xi Xinping, met Kim Jong-un in Pyongyang.

On Wednesday its tone was measured, regretting the launch but calling for restraint on possible counter-measures, in line with previous policy when it has effectively vetoed tougher sanctions.

“China believes the Security Council’s response should be cautious and moderate, protect the overall peaceful and stable situation on the Korean peninsula, and avoid an escalation of the situation,” Chinese Foreign Ministry spokesman Hong Lei told journalists.

Bruce Klingner, a Korea expert at the Heritage Foundation, told a conference call: “China has been the stumbling block to firmer U.N. action and we’ll have to see if the new leadership is any different than its predecessors.”

A senior adviser to South Korea’s president said last week it was unlikely there would be action from the U.N. and that Seoul would expect its allies to tighten sanctions unilaterally.

Kim Jong-un, believed to be 29 years old, took power when his father died on December 17 last year and experts believe the launch was intended to commemorate the first anniversary of the death.

The April launch was timed for the centennial of the birth of Kim Il Sung, the grandfather of its current ruler.

Wednesday’s success puts the North ahead of the South which has not managed to get a rocket off the ground.

“This is a considerable boost in establishing the rule of Kim Jong-un,” said Cho Min, an expert at the Korea Institute of National Unification.

There have been few indications the secretive and impoverished state, where the United Nations estimates a third of the population is malnourished, has made any advances in opening up economically over the past year.

North Korea remains reliant on minerals exports to China and remittances from tens of thousands of its people working on labor projects overseas.

The 22 million population often needs handouts from defectors who have escaped to South Korea in order to afford basic medicines.

Given the puny size of its economy – per capita income is less than $ 2,000 a year – one of the few ways the North can attract world attention is by emphasizing its military threat.

Pyongyang wants the United States to resume aid and to recognize it diplomatically, although the April launch scuppered a planned food deal.

It is believed to be some years away from developing a functioning nuclear warhead although it may have enough plutonium for around half a dozen nuclear bombs, according to nuclear experts.

The North has also been enriching uranium, which would give it a second path to nuclear weapons as it sits on vast natural uranium reserves.

“A successful launch puts North Korea closer to the capability to deploy a weaponized missile,” said Denny Roy, a senior fellow at the East-West Center in Hawaii.

“But this would still require fitting a weapon to the missile and ensuring a reasonable degree of accuracy. The North Koreans probably do not yet have a nuclear weapon small enough for a missile to carry.”

Pyongyang says that its development is part of a civil nuclear program, but has also boasted of it being a “nuclear weapons power”.

(Additional reporting by Jumin Park and Yoo Choonsik in SEOUL; David Alexander, Matt Spetalnick and Paul Eckert in WASHINGTON; Linda Sieg in TOKYO; Sui-Lee Wee in BEIJING; Rosmarie Francisco in MANILA; Writing by David Chance; Editing by Raju Gopalakrishnan)

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Here’s the Pope’s First Tweet

The long wait is over and we’ve finally got the first words of Twitter wisdom from Pope Benedict XVI. 

Dear friends, I am pleased to get in touch with you through Twitter. Thank you for your generous response. I bless all of you from my heart.

— Benedict XVI (@Pontifex) December 12, 2012

Ok, so not that funny, but it was all spelled right and we got blessed by a pope, so that’s a good start. And the Pope did actually send the message himself. Pope Benedict appeared on Wednesday morning for his regular weekly address in front of throngs of media and worshipers, and personally hit the tweet button himself on his iPad. Vatican officials say that before the end of the day he will be answering three questions that were submitted to the #askpontifex hashtag earlier this month. Here’s the first of those:

How can we celebrate the Year of Faith better in our daily lives?

— Benedict XVI (@Pontifex) December 12, 2012

By speaking with Jesus in prayer, listening to what he tells you in the Gospel and looking for him in those in need

— Benedict XVI (@Pontifex) December 12, 2012

He actually tweeted in Italian first and his other language accounts weren’t far behind. Follow @Pontifex for more 140 character sermons.

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World Chefs: Keller shares memories, spotlight in latest book

NEW YORK (Reuters) – Thomas Keller, one of America‘s most respected chefs, shares the food memories of his childhood and his time in France in his new book “Bouchon Bakery,” which is also the name of his chain of pastry shops in the United States.

Keller is the only American chef who owns two three-Michelin-star restaurants – Per Se in New York City and The French Laundry in the Napa Valley wine region in California.

Earlier this year, Britain’s Restaurant Magazine named Per Se, which opened in 2004, the world’s sixth best restaurant. Keller also earned the magazine’s lifetime achievement award.

Like his four other books, his latest effort is a collaboration. He co-wrote it with his top pastry chefs Sebastien Rouxel and Matthew McDonald along with food writers Susie Heller, Michael Ruhlman and Amy Vogler.

The 57-year-old spoke to Reuters about the book, his pastry chefs and his place in the culinary world.

Q: Why did you collaborate with the leaders of your pastry team with this book?

A: “If you look at my other cookbooks, it’s always been a point with me to share these opportunities with those who share their skills and expertise with the general public. That was the reason why I did the book. Sebastien is one of the best pastry chefs in America. His techniques are unparalleled. I’m not trying to pretend that I’m a pastry chef by writing a book about baking and pastries. Nor am I trying to be a bread baker. I have Matthew McDonald, who is one of the best bakers in America. To be able to highlight his skills in the bread section was very important as well.”

Q: How did your time in France change your view about pastry and bread-making?

A: “When you are in France, especially in Paris, there were three or four boulangeries of different significance just on the block where I lived because they had pastry chefs with different levels of skills. You went to different ones for different things. To have a fresh baked baguette everyday was extraordinary. Anyone who lived in Paris for any length of time would say eating a fresh baguette is pretty special. Bread plays a real important part in the experience of the diners. To make sure we have the opportunity to significantly impact the experience by controlling the production and style of the bread was very important to me.”

Q: Do you have a favorite dessert?

A: “It depends on the day … There are so many things I love. I think anything that’s done really, really well. For me, that’s really something I really appreciate. I think one of the things that really resonate with the individual is that idea that eating, and eating through that experience, they have a memory. We are always trying to do something that’s good. Why put something on the menu that’s not very good?”

Q: The book emphasizes weighing ingredients over measuring with cups and spoons. Could that be difficult for home cooks?

A: “One of the things about pastry … it’s such an exact process. The most exact thing you practice is with weighing. There is an exactness to the execution, which gives you every opportunity to be successful.”

Q: French Laundry and Per Se are among two of the best restaurants in the country. Bouchon Bakery is a success. What more would you like to accomplish in the culinary world?

A: “I have accomplished today everything I wanted to accomplish, more than I ever dreamed was possible. Right now, I’m just focused on the restaurants we have and the book I just wrote. Let me enjoy this moment before you ask me what I’ll be doing tomorrow.”

Pecan Sandies for my mom (Makes 1-1/2 dozen cookies)

1 ¾ cups + 1 ½ teaspoons all-purpose flour (250 grams)

¾ cup coarsely chopped pecans (80 grams)

4 ounces unsalted butter, at room temperature (170 grams)

¾ cup + 1 ¾ teaspoons powdered sugar (90 grams)

Additional powdered sugar for dusting (optional)

1. Position the racks in the upper and lower thirds of the oven and preheat the oven to 325°F (convection) or 350°F (standard). Line two sheet pans with Silpats or parchment paper.

2. Toss the flour and pecans together in a medium bowl.

3. Place the butter in the bowl of a stand mixer fitted with the paddle attachment and mix on medium-low speed until smooth. Add the 90 grams/¾ cup plus 1¾ teaspoons powdered sugar and mix for about 2 minutes, until fluffy. Scrape down the sides and bottom of the bowl. Add the flour mixture and mix on low speed for about 30 seconds, until just combined. Scrape the bottom of the bowl to incorporate any dry ingredients that have settled there.

4. Divide the dough into 30-gram/1½-tablespoon portions, roll into balls, and arrange on the sheet pans, leaving about 1½ inches between them. Press the cookies into 2-inch disks.

5. Bake until pale golden brown, 15 to 18 minutes if using a convection oven, 22 to 25 minutes if using a standard oven, reversing the positions of the pans halfway through. (Sandies baked in a convection oven will not spread as much as those baked in a standard oven and will have a more even color.)

6. Set the pans on a cooling rack and cool for 5 to 10 minutes. Using a metal spatula, transfer the cookies to the rack to cool completely. If desired, dust with powdered sugar.

Note: The cookies can be stored in a covered container for up to 3 days.

(Reporting by Richard Leong; Editing by Patricia Reaney and James Dalgleish)

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Mandela responding to lung infection treatment

JOHANNESBURG (Reuters) – Former South African President Nelson Mandela, who is 94 and has been in hospital since Saturday for tests, has suffered a recurrence of a lung infection but is responding to treatment, the government said on Tuesday.

The revered anti-apartheid leader and Nobel Peace laureate is spending his fourth day in hospital in the capital, Pretoria.

Known affectionately by his clan name “Madiba”, Mandela remains a hero to many of South Africa‘s 52 million people and two brief stretches in hospital in the past two years made front page news.

“Doctors have concluded the tests and these have revealed a recurrence of a previous lung infection, for which Madiba is receiving appropriate treatment and he is responding to the treatment,” the government said in a statement.

Mandela was admitted to the Pretoria military hospital on Saturday after being flown from his home village of Qunu in a remote part of the Eastern Cape province.

Until now, authorities had given few details about the reason for his latest visit to hospital.

In an interview broadcast on South Africa’s eNCA television channel, Mandela’s Mozambican-born wife Graca said the former president’s “sparkle” was fading.

When he was admitted to hospital on Saturday, officials stressed there was no cause for concern although domestic media reports suggested senior members of the government and people close to him had been caught unawares.

ROBBEN ISLAND

On the streets, ordinary South Africans crossed their fingers for his recovery. Leading cartoonist Zapiro depicted Mandela asleep in his hospital bed with hundreds of “Get Well” cards flying through the window like a flock of birds.

“He’s old and I hope he gets better soon. He means a lot to the world,” 25-year-old legal researcher Liezel Jacobs said.

Mandela, South Africa’s first black president and a global symbol of resistance to racism and injustice, spent 27 years in apartheid prisons, including 18 years on the windswept Robben Island off the coast of Cape Town.

He was released in 1990 and went on to be elected president in the historic all-race elections in 1994 that ended decades of white-minority rule in Africa’s most important economy.

He used his unparalleled prestige to push for reconciliation between whites and blacks, setting up a commission to probe crimes committed by both sides in the anti-apartheid struggle.

Mandela’s African National Congress (ANC) has continued to govern since his retirement from politics in 1999, but has been criticised for perceived corruption and slowness in addressing apartheid-era inequalities in housing, education and healthcare.

On Tuesday, the influential South African Council of Churches launched a blistering attack on the ANC, accusing its leaders of moral decay and of abandoning Mandela’s goal of a non-racial democracy built from the ashes of apartheid.

Mandela spent time in a Johannesburg hospital in 2011 with a respiratory condition, and again in February this year because of abdominal pains. He was released the following day after a keyhole examination showed there was nothing serious.

He has since spent most of his time in Qunu.

His fragile health prevents him from making any public appearances, although he has continued to receive high-profile domestic and international visitors, including former U.S. President Bill Clinton in July.

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