UK assumes presidency of G8 group







The UK is assuming its year-long presidency of the G8 group of nations.






The presidency – which rotates through the G8 members – means it will host the annual leaders’ summit and choose the global priorities that are discussed.


June’s summit is to be held at Lough Erne, in County Fermanagh, while topics discussed will include tax havens.


The G8 is made up countries who have, historically, been the richest in the world – France, the US, Russia, Japan, Germany, Italy, Canada and the UK.


As prime minister of the presidency holding nation, David Cameron has said he wants to focus on combating trade protectionism, cracking down on tax havens and promoting greater government transparency.


These topics will be discussed in ministerial meetings ahead of the summit along with urgent issues like the crisis in Syria.


Although G8 summits are renowned for fine communiques, the group increasingly suffers from a credibility problem – some of the world’s largest economies like China, India and Brazil are not members, says BBC world affairs correspondent Emily Buchanan.


Our correspondent also adds that organisers will at least be hoping the June summit will be trouble-free.


The last time the UK was the host in 2005, in Gleneagles, more than 200,000 people marched against world poverty.


The proceedings were then overshadowed by the 7/7 bus and underground bombings in London.


Mr Cameron announced in November that the G8 summit would be held at the Lough Erne golf resort near Enniskillen.


It is the first time an event of this size has been held in Northern Ireland.


Speaking at the time, the prime minister said: “I want the world to see just what a fantastic place Northern Ireland is – a great place for business, a great place for investment, a place with an incredibly educated and trained workforce ready to work for international business.


BBC News – Business





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UPDATE 7-Tennis-Auckland Classic women’s singles round 1 results






Jan 1 (Infostrada Sports) – Results from the Auckland Classic Women’s Singles Round 1 matches on Tuesday


2-Julia Goerges (Germany) beat Anastasija Sevastova (Latvia) 6-3 6-4






Marina Erakovic (New Zealand) beat Stephanie Dubois (Canada) 6-2 6-1


1-Agnieszka Radwanska (Poland) beat Greta Arn (Hungary) 6-2 6-2


8-Mona Barthel (Germany) beat Grace Min (U.S.) 6-1 6-3


6-Yaroslava Shvedova (Kazakhstan) beat Lara Arruabarrena Vecino (Spain) 6-3 6-2


Romina Oprandi (Switzerland) beat Nudnida Luangnam (Thailand) 6-0 6-2


Heather Watson (Britain) beat 5-Sorana Cirstea (Romania) 6-3 (Cirstea retired)


Australia / Antarctica News Headlines – Yahoo! News





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Olympics, elections and horsing around in odd 2012






LONDON (Reuters) – Presidential preening, golden Olympic gaffes, a royal windfall for a skydiving British queen on her diamond jubilee and the endless end of days marked the odd stories in 2012 which pranced across the news in Gangnam Style.


The year opened with a tale that flocks of magpies and bears had been spotted in mourning for North Korea‘s “Dear Leader”, Kim Jong-il who died in December 2011 and was succeeded by his 20-something son Kim Jong-un.






Winter weather was so cold in Brussels that the Manneken-Pis, a bronze statue of a young boy urinating had to stop peeing because of sub-zero temperatures.


There was slightly warming news about Mondays in Germany, where crematoriums are struggling to adapt to an increasingly obese population and a boom in extra-large coffins.


“We burn particularly large coffins on Monday mornings when the ovens are cold,” one crematorium said.


In March Polish media reported that kite surfer Jan Lisewski fought off repeated shark attacks and overcame thirst and exhaustion in a two-day battle of survival on the Red Sea with just his trusty knife as protection.


“I was stabbing them in the eyes, the nose and gills.”


In other animal news, dairy cows across the world mourned the loss of “Jocko”, the world’s third most-potent breeding bull and Yvonne the German cow who evaded helicopter searches and dodged hunters landed a film deal: “Cow on the Run”.


A Nepali man who was bitten by a cobra snake bit it back and killed the reptile after it attacked him in his rice paddy.


“I could have killed it with a stick but bit it with my teeth instead because I was angry,” Mohamed Salmo Miya said.


A scathing resignation letter of a Goldman Sachs executive published in the New York Times inspired a sheaf of online spoofs, including Star Wars villain Darth Vader.


“The Empire today has become too much about shortcuts and not enough about remote strangulation. It just doesn’t feel right to me anymore,” Vader wrote in a published letter.


Austerity in Europe saw a once-thriving Greek sex industry become the latest victim of the country’s debt crisis with Greeks spending less on erotic toys, pornography and lingerie.


But lust appeared to be in the rudest of health elsewhere.


Turkish emergency workers rescued an inflatable sex doll floating in the Black Sea and a German disc jockey vowed to press charges against a woman who locked him in her apartment and ravaged him for hours until he rang the police.


“She was sex mad and there was no way out of the flat,” Dieter S. told police.


@ROYALFETUS


Britain’s Queen Elizabeth celebrated her 60th year on the throne with Diamond Jubilee celebrations that saw a 1,000-ship rain-sodden flotilla sail down the River Thames, a massive party in front of Buckingham Palace, street parties across the country and a spoof incarnation of her majesty on Twitter.


“OK, fire up the Bentley. Let’s rock,” tweeted “Elizabeth Windsor“, the comic online alter ego of the British monarch in a typical tweet from the spoof Twitter account @Queen_UK, a virtual monarch with a razor-sharp wit and a penchant for gin.


And Twitter positively exploded with spoof royal accounts later in the year when Elizabeth’s grandson William and his wife Kate announced she was pregnant with a future monarch.


“I may not have bones yet, but I’m already more important than everyone reading this,” was the tweet from @RoyalFetus.


Leadership and change was a theme which ran through a year in which socialist Francois Hollande defeated incumbent Nicolas Sarkozy and Mimi the clown to become French president, Vladimir Putin was elected Russian president again and U.S. President Barack Obama won re-election over Republican Mitt Romney.


Amid the tight election race, Obama met a gaffe-prone Romney for an exchange at a charity dinner ahead of the November poll, where America’s first black president poked fun at Hollywood actor Clint Eastwood for lecturing an empty chair as if it were Obama during the Republican convention.


“Please take your seats,” Obama told the crowd, “or else Clint Eastwood will yell at them.”


“THE MODFATHER”


Sporting news was dominated by the London Olympics during the summer, where the opening ceremony included a vignette of Queen Elizabeth being escorted by James Bond before apparently skydiving into the Olympic stadium for her arrival.


“Good evening Mr. Bond,” was her only line.


Olympic embarrassments were few, but they began early with organizers forced into apologies for displaying the South Korean flag on a video screen for North Korea‘s women’s soccer team.


British cycling sensation Bradley “the Modfather” Wiggins became the first Briton to win the Tour de France, sparking a craze among fans for cutout cardboard sideburns modeled on his own and shouting “here Wiggo” as he raced to Olympic gold.


London’s eccentric and loquacious Mayor Boris Johnson fell rather awkwardly silent when he got stuck dangling from a zip wire, waving two Union flags in drizzling rain.


Olympic chiefs urged youthful athletes to drink “sensibly”.


But there was anything but restraint for Jamaican sprinter Usain Bolt, who declared an early night at one point only to be photographed later with three members of the Swedish women’s handball team. Early one Sunday morning Bolt also dazzled dancers at a London night club with a turn in the DJ booth.


“I am a legend,” Bolt shouted out to a packed dance floor from the decks with his arms raised in the air.


Towards the close of the year, tens of thousands of mystics, hippies and tourists celebrated in the shadow of ancient Maya pyramids in southeastern Mexico as the Earth survived a day billed by doomsday theorists as the end of the world.


“It’s pure Hollywood,” said Luis Mis Rodriguez, 45, a Maya selling obsidian figurines and souvenirs.


Finally, a chubby, rapping singer with slicked-back hair and a tacky suit became the latest musical sensation to burst upon the world from South Korea, via a YouTube music video that has been seen more than a billion times.


Decked out in a bow tie and suit jackets varying from pink to baby blue, as well as a towel for one sequence set in a sauna, Psy busts funky moves based on horse-riding in venues ranging from playgrounds to subways.


The video by Psy has been emulated by everyone from Chinese dissident artist Ai Weiwei to students at Britain’s elite Eton College, gurning politicians, spotty teens and embarrassing dads worldwide.


“My goal in this music video was to look uncool until the end. I achieved it,” Psy told Reuters.


(Reporting by Paul Casciato; editing by Mike Collett-White)


Internet News Headlines – Yahoo! News





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La terapia prostática con protones no provoca menos efectos adversos






NUEVA YORK (Reuters Health) – Un costoso tratamiento para el


cáncer de próstata, conocido como terapia con haz de protones,






provoca tantos efectos adversos como las radioterapias más


comunes y económicas.


“En el largo plazo, realmente no existen diferencias entre


los resultados de la terapia con protones y la radioterapia de


intensidad modulada (IMRT, por su sigla en inglés) en los


hombres con cáncer prostático”, dijo el autor principal del


estudio, el doctor James Yu, radiólogo y oncólogo de la Facultad


de Medicina de la Universidad de Yale.


Los defensores de la terapia con protones sostienen que el


haz de protones irradia directamente al tumor y, así, evita los


efectos adversos. La IMRT, que es más común, deja expuestos a la


radiación a tejidos sanos, lo que para los investigadores


aumentaría los efectos adversos y el riesgo de nuevos tumores.


Pero, en un año, los autores del nuevo estudio hallaron la


misma cantidad de efectos adversos en pacientes tratados con


ambos métodos.


El cáncer de próstata es el cáncer masculino más común; cada


año, causa 28.000 muertes en Estados Unidos. Aun así, muchos


hombres mueren por otras causas porque este cáncer avanza


lentamente. Los tratamientos incluyen la quimioterapia, la


hormonoterapia, la cirugía y la espera vigilada.


Aunque los investigadores aún debaten cuál de los dos


tratamientos (haz de protones e IMRT) son la mejor opción para


los pacientes que optan por la radioterapia, eso no impidió que


proliferaran los centros que ofrecen la terapia con protones. La


Asociación Nacional de Terapia con Protones estima que en


Estados Unidos existen 10 centros y ocho en desarrollo o


construcción.


Cada centro cuesta más de 125 millones de dólares y Medicare


reintegra el doble de eso a cambio de sus servicios.


En el estudio publicado en Journal of the National Cancer


Institute, los autores revisaron los reintegros de Medicare del


2008 y el 2009 debido a complicaciones asociadas con el


tratamiento en casi 28.000 hombres con cáncer de próstata desde


hacía un año. Sólo el 2 por ciento de esos pacientes había


recibido terapia con protones; el resto, IMRT.


A los seis meses, casi el 10 por ciento de los pacientes


tratados con IMRT y el 6 por ciento de aquellos tratados con haz


de protones tuvieron efectos adversos, como incontinencia,


sensación de quemazón al orinar o problemas de erección.


Y las diferencias desaparecieron al año del tratamiento,


cuando casi uno de cada cinco pacientes padecía efectos adversos


independientemente del tratamiento recibido.


El equipo de Yu determinó que la terapia con protones cuesta


dos veces más que la IMRT: 32.428 dólares por ronda, versus


18.575 dólares, algo que coincide con estudios previos.


“Ahora, son los defensores de la terapia con protones los


que deberían probar los beneficios”, dijo Yu.


Los autores se concentraron en los efectos adversos, no en


comparar la efectividad de los tratamientos, lo que para los


promotores del uso del haz de protones es una gran debilidad.


FUENTE: Journal of the National Cancer Institute, online 14


de diciembre del 2012.


Seniors/Aging News Headlines – Yahoo! News





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Commissions banned on new sales







Financial advisers and sales staff can no longer be paid commissions by the firms whose policies they are selling.






New rules, aimed at eradicating the long-standing practice, are being imposed by the Financial Services Authority (FSA) from now.


The aim is to stop policies – such as private pensions and investments – being mis-sold by sales staff, motivated by commission payments.


Instead, customers must be quoted up-front fees, and be told about charges.


Sales staff or financial advisers will also have to state if they are really independent, or restricted to just selling the policies of particular financial groups.


The reforms form part of a series of changes in the financial services industry called the Retail Distribution Review, and which were first proposed by the FSA back in early 2010.


Linda Woodall at the FSA said: “The changes will improve customer confidence – we want people to feel that they are getting a service from their financial adviser that is relevant to their circumstances and in their best interests.


Continue reading the main story

Start Quote


d86d0   65017715 tadcaster Commissions banned on new sales


The danger here is that quality financial advice becomes something only for the wealthy”



End Quote Keith Tadhunter Independent Financial Adviser


“These changes are about making the cost of advice clearer, where else would you buy something without knowing in advance how much it costs?


“Customers will now know how much advice is costing them, the service that they are receiving and be reassured that their adviser is qualified.”


Mis-selling scandals


The changes should ensure that independent financial advisers no longer receive payment for their advice by taking a regular cut of their clients funds via commission payments, something the clients may not be aware of at all.


The new policy will apply to the sale of investments such as pensions, annuities and unit trusts, but not to some mortgages and insurance policies.


Alan Higham, an expert on annuities – a pension income for life – believes that there is also a loophole with sales of annuities.


He said that “limited pension advice” – which provides guidance, quotes and explains terms and accounts for about a third of annuity sales – is not covered by the new rules.


This is because the client has made the decision without recommended pension advice from an adviser. If anything is wrong with the choice, then it is the client’s responsibility, rather than the adviser’s.


Commission-driven sales are thought to have been at the heart of the huge mis-selling scandals of the past few decades, affecting the sale of endowment policies, personal pensions and most recently payment protection insurance (PPI).


Even apart from those scandals, the FSA estimated in 2010 that mis-selling in general was costing UK financial consumers about half a billion pounds a year.


Continue reading the main story

Suggested questions to IFAs


  • How much will your advice cost me and how is this calculated?

  • Can you explain the different ways I can pay for advice?

  • Can you explain what products you can advise me on and any areas you cannot help me with?

  • How often will you review my investments?

  • Can you show me proof that you are qualified to give advice?

Source: Financial Services Authority



A recent survey for the FSA found that 17% of adults currently take advice from a professional financial adviser and another 32% would consider doing so.


But a third of the respondents thought, wrongly, that the advice was free and that they did not have to pay a charge.


‘Danger’


Financial advisers have said that some operators in their industry have given it a bad name. However, some argue that the change in the rules could create issues for those who may not actively seek financial products, such as a pension.


“The danger here is that quality financial advice becomes something only for the wealthy, when in reality, most people need it to some degree – as poor rates of saving across the population only go to show,” said Keith Tadhunter, an independent financial adviser at Future Financial in Bath.


But Martin Wheatley, the chief executive designate of the Financial Conduct Authority, said that – although there was a savings gap in the UK – people had not trusted financial services.


“This is part of getting trust back into finance,” he said.


He expected the industry to change, with many more options explained through websites for people looking to save or invest in the long-term.


The new policies will also stop, from the end of 2013, the practice of businesses such as fund supermarkets or online discount stockbrokers accepting payments from some of the investment funds whose policies they are selling.


This is also thought to lead to biased sales, which may not be in the best interests of private investors.


Part of these payments has sometimes found its way back to the personal investor in the form of a cash rebate, but they are also used to cross-subsidise the provision of other services, such as stock and shares Isas.


BBC News – Business





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Canadian job creation seen sharply lower in December






OTTAWA (Reuters) – Canada‘s job market is expected to slow markedly in December to reflect the sluggish economy and employers’ fears about the U.S. fiscal crisis following outsized gains of over 50,000 jobs in two of the previous three months.


The median forecast in a Reuters poll is for the economy to add just 5,000 jobs in the month, with forecasts ranging from a loss of 20,000 positions to a gain of 21,000.






The forecast compares with employment growth of 59,600 in November, 1,800 in October and 52,100 in September.


The unemployment rate is seen ticking higher in the final month of the year to 7.3 percent from 7.2 percent.


Derek Holt, vice president of economics at Scotiabank, said he’s been surprised by the strength of job growth which he estimates to be the equivalent in the United States of about 1.5 million non-farm payroll jobs over the last three months.


“Here we are with the conundrum where we have zero growth in the Canadian economy, long predating the appearance of the greatest fiscal-cliff risks and yet we’re heaping on jobs like there’s no tomorrow,” Holt said.


Unlike the United States, Canada has long recovered all the jobs lost during the 2008-09 recession but the pace of hiring in 2012 was unsteady.


Benjamin Reitzes, economist at BMO Capital Markets, said if the 5,000-job forecast was accurate, it would put 2012 job growth at just 1.1 percent, “the weakest non-recession year since 1996.”


Canadian employers have faced uncertainty in one form or another during the recovery and are now fretting about the U.S. fiscal cliff, a set of tax hikes and spending cuts that will automatically take effect and could throw the United States into recession unless the White House and Congress reach an alternative agreement.


“For as long as Washington cannot agree on the new tax rules and spending focus, they’re not going to give business the confidence to go out and hire and engage in capital spending projects and that’s going to impede the pace of recovery until we get more clarity,” said Holt.


With the Canadian economy now expected to grow by far less in the fourth quarter than the Bank of Canada‘s projection of 2.5 percent, annualized, the blockbuster jobs growth of recent months looks suspect. The six-month trend shows more sustainable gains of about 21,000 a month.


The moderation means the Bank of Canada will be in no hurry to raise its benchmark interest rate, which it has held at 1.0 percent since September 2010.


Market players surveyed by Reuters in late November predicted the bank would resume hiking rates in the fourth quarter of 2013.


(Reporting by Louise Egan; Editing by Kenneth Barry)


Canada News Headlines – Yahoo! News





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What to Do With Your New Android






So you got a shiny new Android for Christmas? Before showing it off to all your Apple-loving friends, the device should be fully optimized at the start. Taking a couple measures ahead of time will make for a better experience later.


If you’re a brand new Android owner, the phone’s operating system is likely Jelly Bean or Ice Cream Sandwich. You shouldn’t have to upgrade anything, but there might be newer versions of built-in apps. (We’ll get to that later.)






You’ll have to set up a Google account, which should be fairly easy if you already use Gmail. If you’re completely new to Google, consider a couple things before even setting up your phone.


SEE ALSO: Top 20 Things Every First-Time Android User Should Know

[More from Mashable: Facebook in 2013: More Growing Pains Ahead]


Switching from an older Android requires a bit more prep, but it’s not impossible. Once you have a Google account, simply log in and sync accounts to receive your email and contacts. Some of your data, like photos and apps, will not transfer as easily, but there are a few ways to get around that.


The easiest way is to purchase the MyBackup Pro app. It’ll cost you $ 4, but the app backs up data and restores it to a new device.


If you’d rather start with a clean slate, without losing old photos, store all of your data in the cloud. Apps like Dropbox will back up data, but you can manually restore specific items to the new device.


Apps will need to be re-downloaded manually on a new device. Any apps purchased on a former Android will not need to be purchased again, but you will have to download those again, too.


Get Connected


The first thing to do before playing around with your new phone is to set up a Wi-Fi connection.


Hit the Menu button, and choose Settings. Then select Wireless & Networks and connect to the proper Wi-Fi as you would anywhere with a computer.


You’ll also have the option to connect to mobile networks — those settings can be found in the same menu. Your phone runs on 3G or 4G mobile networks when there is not a Wi-Fi connection.


It’s important to connect your phone to Wi-Fi when it’s available, because running on mobile networks uses data. Each download will cost data, which can quickly run over when you first get a new phone and want to try new apps. Running over on data can be very expensive.


Apps on Apps on Apps


Now that you’re up and running, it’s time to dive into the Google Play Store and get the apps that will make your life easier and more efficient.


There are so many apps for every aspect of your life. It depends on whether you want something entertaining, educational, fun, informative, creative or navigational. Sifting through apps can feel overwhelming — trial and error is the best way to approach the task. You can always uninstall an app if you don’t want it.


If you plan on purchasing anything, you’ll need a credit card. Your information will be stored securely, so you’ll only need to enter this once. But that doesn’t mean you have to spend money — there are plenty of free apps that will help you just as effectively.


Your phone will already have built-in apps, which differ with every manufacturer. These are likely due for an update before you even log into the new device. You can update them all at once by opening the Play Store, tapping the Menu button and selecting “My Apps.”


The Google Play Store can be accessed and adjusted from your phone or a desktop when logged into your Google account. You can install, update or remove any app from your phone via the store.


Google’s native apps should already be built in the device. If you can’t function without these tools — which is likely why you went with Android — you won’t be disappointed with the mobile versions.


If you juggle more than one email address, Gmail will access multiple accounts in one device.


Google Maps is a seamless GPS system, plus the updated app gives offline maps, indoor navigation and recommendations for nearby places.


Zappos


Free


Click here to view this gallery.


Social


Facebook’s native app favors Android devices. The app closely mirrors what you’d see on a desktop, making it easy to navigate. Like any other app, it has pre-fixed settings, so you might need to adjust, depending on your preferences.


After downloading and logging in to your account, hit the Menu button and select Settings. If you don’t want to use Facebook Chat from your phone, make sure Chat Availability is off. You can also adjust notifications so they only push the updates most important to you.


If you choose to sync your Facebook friends, they will automatically appear in your contact list if they share their phone number. When you agree to use the Facebook app, it shows your phone number on your profile. If you don’t want to share your number with friends, be sure to edit your contact info so that information is only available to you. The easiest way to do so is from a desktop.


Setup for Twitter is pretty straightforward. You can adjust syncing and push notifications, just like you did for Facebook, by going to Settings from the Menu button.


There are a couple options for Twitter aside from the native app. If you’re a list person, TweetDeck or Hootsuite might be better experiences.


If there is one good thing about Google+, it’s the syncing features that come with an Android device. If you don’t use the network as a social place, it can function as an automatic storage space. For example, if you take a photo with your phone, it will save to your Google+ account, even if you delete the photo from your device.


Of course, there are plenty of other social networks, so test them out and judge for yourself. If you don’t like one (or any app, for that matter) you can always uninstall it from the Google Play Store, just as you would update it.


Music


Your new Android replaces the need to carry multiple devices, including an MP3 player. If you’re gung-ho Google, the native Music app stores all of your files in the cloud, so you can easily switch from device to computer.


There is no native iTunes app, but that’s nothing a little hack can’t work around. DoubleTwist is worth the $ 5 pricetag if you cannot live without your iPod. Also, your iTunes library syncs over Wi-Fi — no wires required.


There are other great apps for music lovers on the go. Spotify is the best service for sharing and discovering music. You can send friends songs, albums and playlists. The free service features a nearly limitless music library, or you can upgrade to premium for an unlimited, ad-free experience.


Are you and Android user? Share any advice for first-timers in the comments below.


Images courtesy of iStockphoto, by_nicholas, Flickr, JD Hancock


This story originally published on Mashable here.



Wireless News Headlines – Yahoo! News





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Hot spots draw believers, but not doomsday






As the sun rose from time zone to time zone across the world on Friday, there was still no sign of the world’s end — but that didn’t stop those convinced that a 5,125-year Mayan calendar predicts the apocalypse from gathering at some of the world’s purported survival hot spots.


Many of the esoterically inclined expected a new age of consciousness — others wanted a party. But, in some places said to offer salvation from the end, fewer people showed up than officials had predicted — much to the disappointment of vendors hoping to sell souvenirs.






Here are some key places being marked by the fascination over doomsday rumors:


MEXICO


In an area of Mexico that was once the ancient Mayan heartland, spiritualists gathered in the darkness before dawn on Friday to prepare white clothes, drums, conch shells and incense. They believed the sunrise would herald the birth of a new and better age as a vast cycle in the Mayan calendar comes to an end.


Many people who came to Yucatan for the occasion were already calling it “a new sun” and “a new era.”


FRANCE


According to one rumor, a rocky mountain in the French Pyrenees will be the sole place on Earth to escape destruction. A giant UFO and aliens are said to be waiting under the mountain, ready to burst through and spirit those nearby to safety. But there is bad news for those seeking salvation: French gendarmes, some on horseback, blocked outsiders from reaching the Bugarach peak and its village of some 200 people.


Eric Freysselinard, head of local government, said the security forces had “partially stopped the new age enthusiasts as well as curious people from coming to the area.”


Meanwhile, some Bugarach residents dressed up like aliens, with tinfoil costumes and funnels and fake antenna on their heads, strolling around their village Friday to make light of the rumored UFO prophecy.


RUSSIA


Doomsday rumors have prompted some people across Russia to stock up on candles, water, canned foods and other non-perishable foods. The apocalypse has proven a good business, with some shops selling survival aid packages that include soap and vodka.


In Moscow, salvation has also been promised in the underground bunker for the former Soviet dictator Josef Stalin — with a 50 percent refund if nothing happens. An underground stay was originally priced at 50,000 rubles ($ 1,625) but dropped to 15,000 ($ 490) a week ahead of the feared end.


The bunker, located 65 meters (210 feet) below ground, was designed to withstand a nuclear attack. Now home to a small museum, it has an independent electricity supply, water and food — but no more room, because the museum has already sold out all 1,000 tickets.


BRITAIN


Hundreds of people have converged on Stonehenge for an “End of the World” party that coincides with the Winter Solstice.


Arthur Uther Pendragon, Britain’s best-known druid, said he was anticipating a much larger crowd than usual at Stonehenge this year. But he doesn’t agree that the world is ending, noting that he and fellow druids believe that things happen in cycles.


“We’re looking at it more as a new beginning than an end,” he said. “We’re looking at new hope.”


Meanwhile, end-of-days parties will be held across London on Friday. One event billed as a “last supper club” is offering a three-course meal served inside an “ark.”


SERBIA


Some Serbs are saying to forget that sacred mountain in the French Pyrenees. The place to be Friday is Mount Rtanj, a pyramid-shaped peak in Serbia already drawing cultists.


According to legend, the mountain once swallowed an evil sorcerer who will be released on doomsday in a ball of fire that will hit the mountain top. The inside of the mountain will then open up, becoming a safe place to hide as the sorcerer goes on to destroy the rest of the world. In the meantime, some old coal mine shafts have been opened up as safe rooms.


On Friday a New Age group called “The Spirit of Rtanj” was holding a conference there. Participants, however, said they expect not the end of time but the start of a new time cycle. Locals turned out to sell brandy and herbs.


“There will be no tragedy, no doomsday,” said resident Dalibor Jovic. “It was supposed to happen at 12:12 and I think that time has passed. So, we can now go on with our lives and be happy to be alive.”


TURKEY


A small Turkish village known for its wines, Sirince, has also been touted as the only place after Bugarach that would escape the world’s end. But on Friday journalists and security officials outnumbered cultists. This outcome disappointed local business people who had prepared a range of doomsday products to sell, including a specially labeled Doomsday wine and Turkish delight candy whose “best before” date was Dec. 21, 2012. One restaurant prepared a special “last meal” menu that included a “heaven kebab” and “forbidden fruit dessert.”


ITALY


Another spot said to be spared: Cisternino, a beautiful small town in southern Italy in an area of trulli, traditional dry stone huts with conical roofs. The notion that Cisternino could be a safe haven at world’s end derives from an Indian guru, Babaji, who said “Cisternino will become an island” at world’s end. His followers built a community in Cisternino centered on an ashram built in 1979. Hotel bookings are up this weekend.


Mayor Donato Baccaro told the AP that the beauty of the place has inspired many foreigners to live there. “This confirms that this place has a special energy,” he said.


CHINA


A fringe Christian group has been spreading rumors about the world’s impending end, prompting Chinese authorities to detain more than 500 people this week and seize leaflets, video discs, books and other material.


Those detained are reported to be members of the group Almighty God, also called Eastern Lightning, which preaches that Jesus has reappeared as a woman in central China. Authorities in the province of Qinghai say they are waging a “severe crackdown” on the group, accusing it of attacking the Communist Party and the government.


U.S.


Dozens of Michigan schools canceled classes for thousands of students to cool off rumored threats of violence and problems related to doomsday. The fears were exacerbated by the recent shooting at a Connecticut elementary school, which “changed all of us,” the school system in Genesee County said. “Canceling school is the right thing to do.”


___


Associated Press writers Florent Bajrami in Bugarach, France; Mansur Mirovalev in Moscow; Peppino Ciraci in Cisternino, Italy; Suzan Fraser in Ankara, Turkey; Paisley Dodds in London; and Dejan Mladenovic in Mount Rtanj, Serbia, contributed to this report.


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Republican Senator: chances for “fiscal cliff” deal “exceedingly good”






WASHINGTON (Reuters) – Republican Senator Lindsey Graham said on Sunday that chances for a small “fiscal Cliff” deal in the next 48 hours were “exceedingly good” and that President Barack Obama had won.


“I think people don’t want to go over the cliff if we can avoid it,” Graham said on Fox News Sunday.






“This deal won’t affect the debt situation, it will be a political victory for the president and I hope we’ll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe as Republicans, but hats off to the president, he won,” Graham said.


(Reporting By Tabassum Zakaria; Editing by David Brunnstrom)


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We’re Paying Off Our Debts, At Least At Home






9fb37  chris farrell Were Paying Off Our Debts, At Least At Home


Had it with the so-called fiscal cliff? Wondering what comes next now that Republicans pulled the plug on House Speaker John Boehner’s Plan B? Take a break from the frenzy in Washington and ignore for the moment the federal government’s red ink. Focus instead on another balance sheet that isn’t getting enough attention: The household balance sheet. Over the past five turbulent years, despite high unemployment rates and falling median income, American households have reduced their debts and shored up their balance sheets. “The aggregate numbers show that households are back to being in pretty good shape,” says James W. Paulsen, chief investment strategist at Wells Capital Management. Adds Susan Lund, partner at the McKinsey Global Institute: “Households continue to make very good progress at deleveraging.”






Case in point: the drop in the financial obligations ratio. It measures the ratio of household debt payments to disposable personal income. The obligation side of the ledger includes mortgage and consumer debt payments, automobile leases, rental payments on tenant-occupied property, homeowners insurance, and property taxes. In other words, the gauge captures much of the typical household’s monthly outlay for debts. The ratio hit a record high of 18.88 in the fourth quarter of 2007, according to the Federal Reserve. In the third quarter of this year it had dropped to 15.74, about the level of the early 1980s. (The series starts in 1980.) The reduced strain on household financial resources reflects the impact of low interest rates and less debt.


To be sure, about two-thirds of the gain in household balance sheets has come through mortgage foreclosures and credit-card defaults. Nevertheless, household debt as a share of gross domestic product is currently at 83 percent, far below its peak of 97 percent of GDP in 2008. At the current pace of deleveraging, households could return to their long-term borrowing trend (1950 to 2000) by the second half of 2013, calculates McKinsey’s Lund.


Households should feel wealthier next year. Their net worth plunged a record-setting 25 percent during the Great Recession. The latest readings have household net worth a mere 2 percentage points shy of reversing the loss. That figure should improve with housing market sales and prices showing definite signs of life, especially with the drag from foreclosures lessening. Yes, the current foreclosure pipeline remains full, but the future looks less dire. The rate of mortgages delinquent by 90 days or more—mortgages clearly heading toward foreclosure—fell to 3.5 percent in September 2012, according to the latest data from Foreclosure-Response.org, a joint venture between Local Initiatives Support Corp., the Urban Institute, and the Center for Housing Policy. The number is sharply lower than the December 2009 high of 5.5 percent,


The deleveraging story goes far beyond the household. Corporate America is flush with cash, and the sector has slightly reduced its debt levels. The beleaguered financial services industry has taken far more draconian actions to create a healthier margin of safety.


Such aggressive balance-sheet cleansing by the household and business sectors isn’t all good. By saving more, they are spending less, reducing demand for goods and services. That could have doomed the economy to a severe downturn if not for the big offsetting budget deficits run by the federal government.


Now even the federal government is poised to make progress. Say what? You wouldn’t know it for all the talk of fiscal crisis in Washington, yet the federal deficit as a share of GDP is shrinking as the economy recovers. Specifically, the government deficit-to-GDP ratio reached 10.4 percent of nominal GD during the Great Recession. Despite the economy expanding at a tepid 2 percent average rate, the deficit-to-GDP ratio has shrunk to 6.9 percent. Even if the economy continues to expand at a slow 2 percent pace, says Paulson, it’s likely the government debt-to-GDP ratio will peak over the next 12 to 24 months. The odds favor the lower band of that range estimate if the pace of growth picks up. “We may be at the stage where if we follow historic trends, you see government debt on a path to decline,” says Lund. Paulsen is even more optimistic: “Over the next three years the fiscal issue will fade.”


Got that, Washington? The underlying dynamics of the economy are screaming on-the-mend, including a job market that’s slowly improving, a housing market with a pulse, and healthier private sector balance sheets. Economic optimism would be the watchword of the New Year if it weren’t for the damaging drama of the fiscal cliff. Main Street has done its part.


Everyone is deeply frustrated, but considering the political blunders of recent weeks, maybe the best thing Washington can do is calm down. Stop playing political Armageddon. Realize that grand bargains can do more economic harm than fiscal good. If you must, embrace some form of face-saving, kick-the-can-down the-road compromise. Thanks to the underappreciated health in household balance sheets, the political equivalent of doing nothing will let the economy grow and deleveraging to continue. Indeed, the surprise of 2013 could be how rapid the short-term improvement in the fiscal balance sheet turns out to be.


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