Final “Twilight” dawns with $30 million from late-night shows

LOS ANGELES (Reuters) – Bella and Edward’s big-screen farewell lit up box offices with $ 30.4 million in late-night ticket sales for the finale of the blockbuster “Twilight” vampire series, production studio Summit Entertainment said on Friday.

The U.S. and Canadian box office receipts for “The Twilight Saga: Breaking Dawn, Part 2″ beat initial sales for each of the previous four films in the franchise, though the final installment got a boost from late Thursday night previews.

Last year’s “Breaking Dawn, Part 1″ kicked off with $ 30.3 million from shows just after midnight on the Friday that it debuted, according to figures from Hollywood.com. Summit, a unit of Lions Gate Entertainment Corp, did not provide Friday-only numbers for “Breaking Dawn, Part 2.”

The record for opening-night sales belongs to “Harry Potter and the Deathly Hallows, Part 2,” the finale in the boy-wizard series that grabbed $ 43.5 million when it debuted in July 2011.

Box office watchers say the “Twilight” finale has a shot at setting the franchise record for opening weekend sales when receipts through Sunday are tallied. “The Twilight Saga: New Moon,” released in November 2009, now ranks as the biggest opening in the series, with $ 142.8 million in sales over the first three days after its release in November 2009.

“Breaking Dawn – Part 2″ stars Kristen Stewart, Robert Pattinson and Taylor Lautner in the conclusion of angst-ridden vampire and werewolf love triangle created by author Stephenie Meyer in a series of young adult books. In the final film, wedded vampires Bella and Edward must protect their daughter from an ancient vampire clan.

Opening weekend will get a lift from fans who rush out to see the movie because it is the last film in the popular series, said Paul Dergarabedian, president of the box office division of Hollywood.com. He projects domestic three-day sales will reach $ 145 million to $ 150 million.

“Like ‘Potter,’ the final installment of this will benefit from the cachet of being the last one,” he said.

(Reporting By Lisa Richwine; editing by Andrew Hay)

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Tulsa Town Hall: Nutrition a valuable tool in health care

Weil spoke as part of the Tulsa Town Hall series of speakers.

The United States has an expensive health-care system that doesn’t produce good results, he said.

“Something is very wrong with this picture,” he said. “We’re spending more and more and we have less and less to show for it.”

Changes in diet can be an effective treatment for many conditions, but American physicians are functionally illiterate in nutrition, he said.

“The whole subject of nutrition is omitted in medical education,” he said.

There are many ways of managing diseases other than drugs, he said. Integrative medicine, which can include dietary supplements and practices like meditation, is the future of health care, he said.

The health system is resistant to change because of entrenched vested interests. That includes pharmaceutical companies that do direct-to-consumer advertising, which should be stopped, he said.

“As dysfunctional as our health-care system is at the moment – and it is very dysfunctional – it is generating rivers of money,” he said. “That money is going into very few pockets.”

Weil has developed an anti-inflammatory diet based on the Mediterranean diet but with Asian influences.

Inflammation is associated with some heart disease, Alzheimer’s disease and some cancers, he said. And as a result, people should be eating real, unprocessed foods and whole grains. They should stay away from sugar-sweetened beverages, including fruit juice, he said.

“The new research that’s being done on sugar is not very comforting,” he said.

The aging process can’t be avoided, but age-related diseases can be avoided by proper care, he said.

“The goal should be to live long and well with a big drop off at the end,” he said.

Weil is the director of the University of Arizona’s Center for Integrative Medicine.

Tickets to the Tulsa Town Hall series are sold as a $ 75 subscription and cover five lectures. Tickets for individual lectures are not available.

To subscribe, visit tulsaworld.com/tulsatownhall, call 918-749-5965 or write to: Tulsa Town Hall, Box 52266, Tulsa, OK 74152.

Future speakers include journalist Ann Compton on Feb. 8; author James B. Stewart on April 5; historian and cinematographer Rex Ziak on May 10.

Original Print Headline: Speaker highlights nutrition

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Shannon Muchmore 918-581-8378
shannon.muchmore@tulsaworld.com
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New driver passenger ban ‘mulled’

17 November 2012 Last updated at 08:07 ET

Ministers may consider moves to ban young drivers in England and Wales from carrying anyone except family members as passengers, reports suggest.

Transport Secretary Patrick McLoughlin told the Daily Telegraph he was looking at ways of reducing road deaths involving newly-qualified motorists.

Insurers believe peer pressure on young drivers can lead them to take risks.

The Department for Transport says the issue is being considered but there are “no plans” for legislation.

The Association of British Insurers says drivers aged 17-24 are responsible for a disproportionately high number of crashes, deaths and claims.

It says an 18-year-old is more than three times as likely as a 48-year-old to be involved in a crash, and that a third of drivers killed in car accidents were under 25.

That was despite the fact that the under 25s form only one in eight of all car drivers.

In an interview with the Daily Telegraph, Mr McLoughlin said he would consider measures put forward by the ABI which could cut the number of accidents involving young motorists.

Continue reading the main story

Other countries have adopted these measures and their experience has shown that they’re largely self-policing”

End Quote Malcolm Tarling Association of British Insurers

“I read regular reports where three or four young people have been killed in a car, and it’s a new driver, and you wonder what happened,” he told the newspaper.

“When I talk to young people who have recently passed their test, what they say sometimes is that peer pressure is put on them to go fast, to show off.

“They are not anticipating an accident, but something goes wrong. They are not drivers with a huge amount of experience by the very fact of their being new drivers. I think we have got to look at that.

“There is a suggestion as to whether you should look at a restriction whether anyone could carry passengers for six or nine months when they have first passed their test.

“There are suggestions about them only perhaps being allowed to take a family member to drive a car when you are learning, you have to have a qualified driver in the car. So these are all sorts of areas that I think we can look at.”

It comes six weeks after the Association of British Insurers called for an overhaul in the system – suggesting people should spend a year learning to drive and urging the introduction of a graduated licence for the first six months after passing a test.

ABI spokesman Malcolm Tarling denied that a restriction on who young drivers could carry as passengers would be difficult to enforce.

He said: “In terms of policing, you could use that argument for just about anything, really.

“Other countries have adopted these measures and their experience has shown that they’re largely self-policing.

“Of course there will always be people who will look to avoid the law, but the reality is if you impose something like this, and encourage people to follow it, international experience has shown that that is exactly what people do.”

But Neil Greig from the Institute of Advanced Motorists said forcing young motorists to carry only family members with them in the car would not necessarily make them safer drivers.

“Young drivers themselves admit that they are lacking experience, but we don’t believe that restricting people – such as curfews at night and restricting the number of passengers they can carry – is the way to develop that experience.

“They need the opportunities to get to learn, by doing these things, by carrying young people, by going out at night – how else can they learn?”

A Department for Transport spokesman said: “Improving the safety and ability of young drivers is a key priority for the government, which is why we have made the driving test more realistic – and are also considering how to improve training for drivers after they pass their test.

“There are no plans to introduce graduated licensing in England and Wales.

“However, we are working with young people, the insurance industry, and other key partners to identify what more can be done to ensure that newly qualified drivers are properly prepared and drive safely.

“We will consider carefully any ideas that reduce the risks of accidents involving young drivers.”

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Canadian October home sales dip, latest sign of cooling

TORONTO (Reuters) – Sales of existing homes in Canada fell in October from September and year-over-year sales were down as well, the Canadian Real Estate Association said on Thursday in the latest signal that the housing market is slowing.

The industry group for Canadian real estate agents said sales were down 0.1 percent in October from September. Actual sales for October, not seasonally adjusted, were down 0.8 percent from a year earlier.

The housing market, which roared higher in 2011 and the first half of 2012, started to slow after the government tightened rules on mortgage lending in July in a bid to cool the market and prevent home buyers from taking on too much debt.

“Housing market trends in Canada for 2012 can be characterized as before and after regulatory changes,” TD Economics senior economist Sonya Gulati said in a research note.

“In the first half of the year, sales and price gains were modest, but positive. More stringent mortgage rules and tighter mortgage underwriting rules have ‘purposely’ knocked the wind out of the housing market sails,” she said.

The home sales data showed diverging paths in Canadian housing depending on location. In Toronto and Vancouver, where sales and price gains were red hot in 2011 and early in 2012, the market has been cooling. But markets in the resource-rich western provinces of Saskatchewan and Alberta have been gaining strength.

“Opinions differ about how sharply sales have slowed depending on the local housing market,” Gregory Klump, CREA’s chief economist, said in a statement.

Led by Calgary, sales in October were up from a year earlier in almost two-thirds of local markets. Sales remained blow year-earlier levels in Toronto, Vancouver and Montreal, CREA said.

“These results suggest that the Canadian housing market overall has returned to a more sustainable pace,” Klump said.

CREA’s Home Price Index rose 3.6 percent in October from a year earlier, the sixth consecutive month in which gains in prices slowed, and the slowest rate of increase since May 2011.

While tighter mortgage rules have worked to slow the market, TD’s Gulati said the big question is what will happen when that temporary cooling effect wears off in early 2013.

“What happens thereafter is less certain. The low interest rate environment could pull homeowners back onto the market, causing home prices to once again trek upwards. Alternatively, an absence of pent-up demand may leave the market in a bit of a lull until interest rate hikes resume in late 2013,” she wrote.

“Under either scenario, it is safe to say that there is a low probability of out-sized home price gains over the near-term.”

A total of 402,322 homes traded hands via Canadian MLS systems over the first 10 months of 2012, up 0.8 percent from the same period last year and 0.4 percent below the 10-year average for the period, the data showed.

The number of newly listed homes fell 3.8 percent in October following a jump in September. Monthly declines were reported in almost two-thirds of local markets, with Toronto and Vancouver exerting a large influence on the national trend.

Nationally, there were 6.5 months of inventory at the end of October, little changed from the reading of 6.4 months at the end of September.

(Editing by Peter Galloway)

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RIM to spice BlackBerry 10 AppWorld with local flavors

WATERLOO, Ontario (Reuters) – Research In Motion is pushing for app quality, not quantity, with its make-or-break BlackBerry 10 devices set for launch on January 30, and targeting applications to customers in various regions.

RIM’s projected 100,000 apps – a record for any new platform at launch – will still be a fraction of those available on Apple Inc or Google Inc devices.

But it is a stronger showing than RIM’s PlayBook tablet computer which was slammed at its 2011 launch for a dearth of apps and incomplete software.

In an interview with Reuters on Wednesday, RIM Chief Executive Thorsten Heins admitted that app libraries play a crucial role in the success or failure of smartphones. But he said the game is not just about numbers.

“The tactic we are deploying is by country and by region. We are aiming to have the most important 200 to 400 apps available, because many applications are regional and they really do have a regional flavor,” Heins said.

RIM says it aims to offer both the most popular applications in the market, and also those most relevant to Blackberry aficionados – people Heins described as hyper-connected multi-taskers who need to get things done.

RIM’s ultra-secure BlackBerry was once the smartphone of choice for government and corporate elites. But rivals have taken giant bites out of RIM’s market share, especially in North America, and the company’s stock has slumped. The BlackBerry remains popular in many emerging markets, partly for its popular BBM messaging system.

With this in mind, RIM has hosted events with developers across the globe.

“We’ve done 30 jam conferences in various cities all around the world, to get the bucket filled with meaningful local apps and not just a huge bunch of applications that you collect and throw at your audience,” he said. “It is a very, very targeted approach.”

Heins, who has met with customers and carriers in a series of whirlwind global tours, came across as relaxed and confident in the interview, in RIM’s Waterloo headquarters.

Speaking rapid fire English with just a hint of an accent from his native Germany, he acknowledged that RIM’s fate may depend on the success of BB10, but he said feedback from clients has been very encouraging.

RIM hopes its new line of BB10 smartphones will help it claw back market share from Apple’s iPhone and devices powered by Google’s Android operating system. Developers say like what they see, but analysts are not convinced that RIM’s gamble on BB10 will succeed.

BIG NAME DRAWS

In terms of numbers, RIM’s app offering will remain far behind the Apple and Google app stores, each of which boast over 700,000 apps. But Heins said he was not worried.

“In my view it is really short-sighted to say, you have 600,000, you have 400,000 and you only have 100,000 apps, so you are not good,” he said.

“Look at how many actually get downloaded. … BlackBerry App World today is still the most profitable portal for application developers – it has the highest number of paid for downloads.”

In a small dig at his rivals, he added: “We don’t have 1,500 Solitaire apps. That is not what Blackberry is about.”

RIM has already said it plans business focused apps from the likes of Cisco WebEx, Box, SAP and Blackboard, as well as music and movie apps like TuneIn, Nobex and Popcornflix and gaming apps from developers like Gameloft, Halfbrick and Paw Print Games.

Heins has said social networks such as LinkedIn, Foursquare, Twitter and Facebook will all have apps for BB10 at launch. But he declined to name any of the other big name apps that RIM will have on board come launch day.

“Allow me to talk to you about this on January 30, otherwise I’m losing a lot of thunder,” he said.

(Editing by Janet Guttsman and Richard Chang)

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After Garbo, Leigh, no defining “Anna Karenina”: Knightley

LOS ANGELES (Reuters) – Film adaptations of “Anna Karenina” have featured the likes of Greta Garbo and Vivien Leigh, but Keira Knightley isn’t fazed about measuring up to such silver screen luminaries with a new cinematic take on Leo Tolstoy‘s classic novel.

The British actress’s turn in the title role in the timeless story about a beautiful married socialite in 1870s Russia who embarks on a passionate affair with a cavalry officer, follows the 1935 version starring Garbo and the 1948 film with Leigh. It is released in the United States on Friday.

“Although there have been many famous actresses play her, there’s never been a definitive version of ‘Anna Karenina,’” Knightley said in an interview. “I think it’s partly because of the relationship you have with the character. She poses more questions than she answers, so it’s always open to different interpretation.”

Knightley stars opposite Jude Law as her husband, and Aaron Taylor-Johnson as the dashing Count Vronsky, and teams up again with filmmaker Joe Wright in their third film together after previous book-to-film collaborations with 2007′s “Atonement” and 2005′s “Pride & Prejudice.”

The film debuted at the Toronto film festival to warm reviews for Knightley‘s performance. Critics have said the film is overall technically and visually accomplished but lacks a cohesive emotional punch.

Adapted by playwright Tom Stoppard, Wright’s “Anna Karenina” takes place mostly in a theater setting and sees the title character more high-strung and less sympathetic than in previous incarnations.

The director said he cast Knightley, 27, because he felt she could tap into all the internal elements of Anna.

“She was 18 when we made ‘Pride & Prejudice‘, just a kid,” said Wright. “I’ve seen her develop from stunning ingénue to great actress. I felt that she was stronger, braver, even less conforming than she had been before.”

Knightley, newly engaged to musician James Righton, said she stood in moral condemnation over Anna,- “But am I any better than her? No.”

“I think we’re all her,” she added. “That is why she’s so terrifying. We all have bits of her personality within us. We can be wonderful, we can be loving, we can be full of laughter and full of life, and we can also be deceitful, malicious, needy and full of rage.”

WORLDS AWAY

While “Karenina” cements the perception of Knightley as a go-to actress for period pieces that also includes films like 2008′s “The Duchess” and 2004′s “King Arthur,” her career wasn’t always associated with roles grounded in the past.

Knightley spent the 1990s working in the British film and television industry before gaining international attention in the 2002 teenage soccer movie “Bend it Like Beckham.” After that, the actress said she was offered “an awful lot” of films in the teenage genre.

“The one thing that I knew right from the beginning was that I didn’t want to get into those high school movies,” she said. “I was never that interested in being a teenager. I was always interested in worlds away from my own.”

She credits the “massive” success of the “Pirates of the Caribbean” franchise – which saw her play Elizabeth Swan in the first three installments – as an integral part of her career and “a lot of the reason I was able to do other kinds of smaller films, because my name would help in financing them.”

Coming up, Knightley takes a turn away from costume dramas, in “Can A Song Save Your Life?” – a musical drama that sees her starring as an aspiring singer who meets a down-on-his-luck record producer, played by Mark Ruffalo. She’s currently shooting a reboot of the Tom Clancy thriller “Jack Ryan.”

“I got to the end of ‘Anna Karenina’ and I realized that I’d done about five years of work where I pretty much died in every movie and it was all very dark,” she said. “So I thought, okay, I want this year to be the year of positivity and pure entertainment.”

(Reporting by Zorianna Kit, editing by Christine Kearney and Patricia Reaney)

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CDC Report: Number of U.S. Adults with Diabetes Has Skyrocketed

The U.S. Centers for Disease Control and Prevention (CDC) released the findings from its latest Morbidity and Mortality Weekly Report (MMWR) on Thursday, which focused on the prevalence of diabetes among American adults. The MMWR stated that the number of new cases of diabetes, particularly type 2 diabetes, has risen dramatically in the last 15 years across the country, especially in some of the southern states.

The report looked at self-reported data collected from the participants of the study between the years of 1995 and 2010. The data was sorted and analyzed using a CDC system known as the Behavioral Risk Factor Surveillance System to determine whether or not the average rate of diabetes had increased over time, and if so, by how much.

Here is some of the key information to emerge from the CDC’s latest MMWR release about diabetes.

* According to the MMWR, diabetes prevalence was higher than 6 percent of the adult population in only three states at the start of the study in 1995. Puerto Rico and Washington, D.C., also had a greater than 6 percent prevalence of adult diabetes at that time.

* In 2010, at the conclusion of the study, every U.S. state, along with Puerto Rico and Washington, D.C., reported a prevalence of diabetes among its adult population that was greater than or equal to 6 percent. In addition, six states as well as Puerto Rico reported a prevalence of diabetes among their adult populations of greater than or equal to 10 percent.

* All of the participants in the study were 18 years or older. The study was conducted through telephone surveys.

* According to a report by Reuters regarding the study, Oklahoma was the state that had the largest increase in the percentage of adults living within its borders who have been diagnosed with diabetes. Kentucky was next, followed by Georgia, Alabama, Washington and West Virginia.

* Linda Geiss, the lead author of the study, told CNN on Thursday that she was surprised by the research team’s findings, saying that the “level of increase was shocking to me.” Specifically, Geiss was referring to the fact that the team found that the number of adults living with diabetes increased by at least 100 percent in 18 different states over the course of their research.

* The states that charted the highest percentage increases in the number of new diabetes cases also have had some of the highest increases in the number of adults who are considered obese, according to the CNN report.

* Geiss told CNN on Thursday that a person “should know that” they “can prevent the disease or delay it” by getting more exercise, adjusting their diet, and losing weight.

Vanessa Evans is a musician and freelance writer based in Michigan, with a lifelong interest in health and nutrition issues.

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China’s commerce minister voted out in rare congress snub: sources

BEIJING (Reuters) – China‘s commerce minister was surprisingly blocked from a spot on the ruling Communist Party’s elite body during a conclave this week, sources said, a rare snub for an official that could raise questions about trade policies during his tenure.

The failure of Chen Deming to secure a seat on the 25-member Politburo marks one of the few surprises to emerge from the party’s five-yearly congress that wrapped this week with the anointing of a new slate of top leaders who will run the world’s second largest economy.

It is also the first time in more than two decades that an official designated for a Politburo spot has been voted out of the party’s 205-member Central Committee in elections. Central Committee membership is a prerequisite for a Politburo seat.

“Chen Deming was voted out during multi-candidate elections to the Central Committee,” one source told Reuters. State news agency Xinhua said there were eight percent more candidates than seats in a preliminary vote before the formal election on Wednesday.

Not being name as an alternate or full member during the party’s 18th congress means Chen, who was previously an alternate member, is almost certain to step down as commerce minister next March. Party regulations require cabinet ministers to be Central Committee members.

It is unclear why Chen, who was seen as a strong candidate for a vice premiership and at 63 is young enough to serve another five-year term under party rules, did not secure the votes for a seat on the Central Committee.

Tianjin Mayor Huang Xingguo, 58, who was elected a full member of the Central Committee, is front-runner to replace Chen as commerce minister, two sources with ties to the leadership said.

Ma Kai, 66, secretary general of the State Council, or cabinet, is tipped to become a vice premier now that Chen is out of the running, the sources said, requesting anonymity to avoid repercussions for discussing secretive elite politics.

Until now, a politician designated to become a Politburo member has not been barred from the Central Committee since 1987, when Deng Liqun, an ultra-conservative and reviled Marxist ideologue, was voted out at the 13th congress in a deeply embarrassing fall from grace.

Chen’s imminent retirement as commerce minister, a post he has held since taking over from now disgraced politician Bo Xilai in late 2007, would come as China faces growing tension with major trade partners in Europe and the United States and Chinese officials warn of increasing protectionism.

China’s leaders set a goal for 10 percent export growth this year, but it is more likely to come in at around 7 percent as the world has struggled to recover from financial crisis.

DEFENDED RECORD

Some experts suggest that Chen’s age was the main factor in his ouster.

“Minister Chen didn’t get onto the Central Committee because of his age. He was born in 1949 and that makes him too old to serve a full term,” said a Commerce Ministry official who declined to be identified.

But exceptions to the mandatory retirement age of 65 are often made for cabinet ministers and provincial governors and politicians can become a vice premier before they turn 68.

Du Qinglin, 66, a vice chairman to parliament’s advisory body, was just elected to the Central Committee.

At a news conference last week on the sidelines of the congress, Chen declined to answer questions about whether he was being considered for a vice premier post, but he defended the ministry’s record at the World Trade Organisation.

“When you consider the volume of trade cases in which China is involved, we’ve won quite a few,” Chen said. “But we haven’t bragged about our wins, whereas some of our foreign colleagues have trumpeted theirs.”

Analysts said Chen had a reputation as a competent and moderate minister, suggesting his performance may not have been at the center of his failure to secure a central committee seat, and despite the questions that are bound to arise, policy would probably not change.

“China’s overall trade policy is not set by the ministry, but by the central government,” said He Weiwen, director of the China-U.S. Trade Research Centre at the University of International Business and Economics in Beijing.

Under Chen, the ministry has increased its use of WTO legal processes, in part to gain experience. China has a relatively short history of participating in multilateral institutions and while it has lost most of WTO cases filed against it, most countries defending against complaints have the same problem.

Scott Kennedy, director of the Research Centre for Chinese Politics and Business at Indiana University said Chen’s departure from the Central Committee was puzzling and political motives could be at play.

“I don’t think he could be punished for his record as minister of commerce. I think overall he’s done a pretty decent job with the hand he has been dealt,” Kennedy said.

(Additional reporting by Lucy Hornby and Nick Edwards; Editing by Robert Birsel)

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Jamaica to abolish slavery-era flogging law

KINGSTON, Jamaica (AP) — Jamaica is preparing to abolish a slavery-era law allowing flogging and whipping as means of punishing prisoners, the Caribbean country’s justice ministry said Thursday.

The ministry said the punishment hasn’t been ordered by a court since 2004 but the statutes remain in the island’s penal code. It was administered with strokes from a tamarind-tree switch or a cat o’nine tails, a whip made of nine, knotted cords.

Justice Minister Mark Golding says the “degrading” punishment is an anachronism which violates Jamaica’s international obligations and is preventing Prime Minister Portia Simpson Miller‘s government from ratifying the U.N. convention against torture.

“The time has come to regularize this situation by getting these colonial-era laws off our books once and for all,” Golding said in a Thursday statement.

The Cabinet has already approved repealing the flogging law and amendments to other laws in the former British colony, where plantation slavery was particularly brutal.

The announcement was welcomed by human rights activists who view the flogging law as a barbaric throwback in a nation populated mostly by the descendants of slaves.

“We don’t really see that (the flogging law) has any part in the approach of dealing with crime in a modern democracy,” said group spokeswoman Susan Goffe.

But there are no shortage of crime-weary Jamaicans who feel that authorities should not drop the old statutes but instead enforce them, arguing that thieves who steal livestock or violent criminals who harm innocent people should receive a whipping to teach them a lesson.

“The worst criminals need strong punishing or else they’ll do crimes over and over,” said Chris Drummond, a Kingston man with three school-age children. “Getting locked up is not always enough.”

The last to suffer the punishment in Jamaica was Errol Pryce, who was sentenced to four years in prison and six lashes in 1994 for stabbing his mother-in-law.

Pryce was flogged the day before being released from prison in 1997 and later complained to the U.N. Human Rights Committee, which ruled in 2004 that the form of corporal punishment was cruel, inhuman and degrading and violated his rights. Jamaican courts then stopped ordering whipping or flogging.

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Sina banks on Weibo but weak fourth quarter guidance spooks investors

(Reuters) – Chinese Internet company Sina Corp said its fourth quarter will be hit by a softer economy and posted weaker-than-expected sales guidance, despite a stronger revenue contribution from its hot microblogging platform Weibo.

Shares in Sina fell 7 percent after it forecast adjusted net revenue of $ 132 million to $ 136 million in the current quarter, below analysts’ expectations for $ 151.9 million according to Thomson Reuters I/B/E/S.

Sina, which makes most of its revenue from online advertising both on its website and Weibo, is facing stiff headwinds as firms slash advertising budgets due to a worsening economic outlook.

“We are going to see a weaker quarter for advertising overall in the fourth quarter,” said Charles Chao, Sina’s chief executive on an earnings conference call. The firm forecast Q4 advertising revenues would rise 6-8 percent from a year earlier.

Chao said Weibo contributed 16 percent to total revenue in the third quarter, up from 10 percent in the previous quarter. The platform, which is very popular with white-collar workers, university students and celebrities, had 424 million registered users at the end of the quarter, up from 368 million three months earlier.

Advertisers, like luxury brands, that traditionally don’t advertise with Sina’s main portal website flocked to Weibo to test out the social platform, Chao said.

There were about 230,000 Weibo advertising accounts in the quarter, and Sina was in the process of rolling out a online payment system and new Weibo advertising product to increase monetization at the end of the fourth quarter.

“We believe a ‘promoted feed advertising’ will become one of the major forms of (Weibo) advertising going forward,” said Chao, adding that the product will be effective also on mobile platforms, allowing Sina to tap into Weibo’s growth on mobile devices.

Q3 PROFIT BEAT

For the third quarter, Sina’s net profit was $ 9.9 million compared with a loss of $ 336.3 million a year earlier, and slighly ahead of analysts’ expectations of $ 7.5 million.

Sina’s quarterly advertising revenue rose 19 percent to $ 120.6 million, while non-advertising revenue rose 9 percent to $ 31.8 million.

The company started monetizing Weibo by offering special services to business accounts and selling VIP memberships to regular users earlier this year.

For its mobile-value-added-services business, Sina said it expects revenue to continue to decline due to new regulatory policies.

The company was also affected by a spat between Japan and China over islands in the East China Sea as Japanese automakers cut back on advertising in China. Chao said he expected the impact to last into the fourth quarter.

“It did have an impact on our third quarter as well as our fourth quarter. We did see cancellations from customers related to Japanese automobiles in the month of September and it impacted the fourth quarter (too),” Chao said.

Sina shares fell 6.74 percent to $ 49.52 in extended trading. They closed at $ 53.10 on the Nasdaq on Thursday.

(Additional reporting by Aurindom Mukherjee in Bangalore; Editing by Sriraj Kalluvila and Richard Pullin)

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