Cricket-Australia v South Africa – second test scoreboard

ADELAIDE, Nov 24 (Reuters) – Scoreboard at the close of the

third day of the second test between Australia and South Africa

at Adelaide Oval on Saturday:

Australia won the toss and chose to bat

Australia first innings 550

South Africa first innings

G. Smith c Wade b Siddle 122

A. Petersen run out 54

H. Amla st Wade b Warner 11

J. Rudolph c Quiney b Lyon 29

AB de Villiers lbw b Siddle 1

F. du Plessis c Clarke b Hilfenhaus 78

D. Steyn c Ponting b Hilfenhaus 1

R. Kleinveldt b Hilfenhaus 0

J. Kallis c Wade b Clarke 58

M. Morkel b Lyon 6

I. Tahir not out 10

Extras (b-7, lb-2, w-3, nb-6) 18

Total: (all out, 124.3 overs) 388

Fall of wickets: 1-138 2-169 3-233 4-233 5-240 6-246 7-250

8-343 9-352 10-388

Bowling: B. Hilfenhaus 19.3-6-49-3, J. Pattinson 9.1-0-41-0

(nb-4, w-1) N. Lyon 44-7-91-2, P. Siddle 30.5-6-130-2 (nb-2), M.

Clarke 7-1-22-1, M. Hussey 1-0-7-0 (w-2), D. Warner 5-0-27-1, R.

Quiney 8-3-12-0

Australia second innings

D. Warner c Du Plessis b Kleinveldt 41

E. Cowan b Kleinveldt 29

R. Quiney c De Villiers b Kleinveldt 0

R. Ponting b Steyn 16

M. Clarke not out 9

P. Siddle c De Villiers b Morkel 1

M. Hussey 5

Extras (lb-7, nb-3) 10

Total (for five wickets, 32 overs) 111

Fall of wickets: 1-77 2-77 3-91 4-98 5-103

Still to bat: M. Wade, B. Hilfenhaus, J. Pattinson, N. Lyon.

Bowling: Steyn 10-4-28-1, Morkel 9-2-24-1, Kleinveldt

6-1-14-3 (nb-2), Tahir 7-1-38-0 (nb-1)

- -

Third test: WACA, Perth Nov. 30-Dec. 4

(Compiled by Ian Ransom; Editing by Alastair Himmer)

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Ang Lee talks about risks, spirituality of “Life of Pi”

NEW YORK (Reuters) – Gay cowboy drama “Brokeback Mountain” may have been considered a risky film to make, but director Ang Lee said his new movie, “Life of Pi,” a 3D exploration of faith about a boy stranded on a boat with a Bengal tiger, is his riskiest yet.

The film, which was released in U.S. theaters this week, is adapted from Yann Martel‘s best-selling novel of the same name and was once considered impossible to make.

Oscar-winning Taiwanese director Lee, 58, took on the laborious task of using computer-generated imagery to bring the sensational plot to the big screen, taking a year and a half just to edit the film together.

The director talked to Reuters about the film’s themes, technical barriers and casting an unknown actor in the lead.

Q. Why was “Life of Pi” considered unfilmable?

A. “Because you cannot make the tiger do everything you want to do, you have to use digital. A digital animal, up until two years ago, was not totally realistic yet, let alone in 3D, and then water is pretty difficult.”

Q. Was this your most difficult filming experience yet?

A. “Oh yes. And it was also the longest…there was the technical difficulty and then it is a big movie. And it was across continents, I finally decided to shoot most of it in Taiwan, but we also had to go to India to shoot for two to three weeks. Because you can’t fake Pondicherry, and Munnar. And then we have scenes in Canada.”

Q. But Brokeback Mountain was a risky film too?

A. “No, that wasn’t for me. At least when I made it, I thought it was strictly arthouse and few people would see it. And it’s a lot cheaper (to make). So I didn’t care…And then I got nervous, ‘Oh they are going to lynch me, making a gay cowboy movie, that will go into a shopping mall.’”

Q. It was only after you made it you realized that?

A. “Yes, I was afraid. I was looking around when I walked, when I would go home, to see if anybody was following me. Once it hit the shopping mall I was nervous, actually. My brother is a distributor in Taiwan and I told him not to buy it. He hates me to this day, he is still babbling about it.”

Q. Why choose unknown Suraj Sharma to play Pi?

A. “I wanted someone authentic, and no bad habits, that means you have to train them from the start. “

Q. Why did you replace Tobey Maguire and reshoot his scenes with the little-known Rafe Spall?

A. “It was a small part, and he is a big movie star. He is a good old friend of mine and he would do this for nothing, for me. But he is not doing anything (in the role), he is just sitting there listening most of the time. It becomes a little distracting I think.”

Q. How does the film explore spirituality?

A. “To me, faith can be elusive, but .. As a Taoist would say, ‘That’s the apple’s truth.’ The source of all the material comes from nothingness, illusion is working more on things you can prove. That’s the principle, the essence of life, it is actually an illusion, not immaterial. That’s worth pursuing. So illusion is not nothing. In a way, that is the truth.”

“Sometimes I feel (illusions) are more of life’s essence, I can trust them more than real life that is full of deceit and covering up.”

Q. Did exploring faith encourage you to make this?

“The book is fascinating, it talks about faith. But it didn’t make me believe in God or anything…I didn’t go to church or a temple after that. When I started making the movie, you do feel faith embody you and carry you through. But when I picked the subject, and chose to do the book, it was actually more storytelling in my mind. The value of storytelling. How people share a story. Because a story has structure, it has a beginning, middle and end. It seems to have meaning, where life has not.”

Q. Do you practice any religion?

A. “No, my mother is a baptized Christian, so she made me go to church every Sunday, and I prayed four times a day until I was 14. And at lunchtime kids at school would giggle at my praying…I stopped praying. And two weeks later, nothing happened to me, so I didn’t pick it up again.”

“I am not particularly religious. But I think we do face the question of where God is, why we are created and where does life go, why we exist. That sort of thing. And it is very hard to talk about it these days, because it cannot be proven. It is hard to discuss it rationally.”

Q. Do you consider yourself spiritual?

A. “I hate to think life is just facts and laws. And I am a filmmaker, I am a sensitive person, I like to think it is spiritual, so I like people to be more in that way. I think life without spirit is in the dark, it is absurd. Call it illusion or call it faith, whatever you call it, we have emotional attachment to the unknown. We yearn to find out. That is human nature. It can be, in a way, unrequited love, we don’t know. I don’t have a particular God I pray to, except sometimes a movie god.” (laughs)

(Reporting by Christine Kearney, editing by Piya Sinha-Roy and Andrew Hay)

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Four new cases of SARS-like virus found in Saudi, Qatar

LONDON (Reuters) – A new virus from the same family as SARS which sparked a global alert in September has now killed two people in Saudi Arabia, and total cases there and in Qatar have reached six, the World Health Organisation said.

The U.N. health agency issued an international alert in late September saying a virus previously unknown in humans had infected a Qatari man who had recently been in Saudi Arabia, where another man with the same virus had died.

On Friday it said in an outbreak update that it had registered four more cases and one of the new patients had died.

“The additional cases have been identified as part of the enhanced surveillance in Saudi Arabia (3 cases, including 1 death) and Qatar (1 case),” the WHO said.

The new virus is known as a coronavirus and shares some of the symptoms of SARS, or Severe Acute Respiratory Syndrome, which emerged in China in 2002 and killed around a 10th of the 8,000 people it infected worldwide.

Among the symptoms in the confirmed cases are fever, coughing and breathing difficulties.

Of the six laboratory-confirmed cases reported to WHO, four cases, including the two deaths, are from Saudi Arabia and two cases are from Qatar.

Britain’s Health Protection Agency, which helped to identify the new virus in September, said the newly reported case from Qatar was initially treated in October in Qatar but then transferred to Germany, and has now been discharged.

Coronaviruses are typically spread like other respiratory infections, such as flu, travelling in airborne droplets when an infected person coughs or sneezes.

The WHO said investigations were being conducted into the likely source of the infection, the method of exposure, and the possibility of human-to-human transmission of the virus.

“Close contacts of the recently confirmed cases are being identified and followed-up,” it said.

It added that so far, only the two most recently confirmed cases in Saudi Arabia were epidemiologically linked – they were from the same family, living in the same household.

“Preliminary investigations indicate that these two cases presented with similar symptoms of illness. One died and the other recovered,” the WHO’s statement said.

Two other members of the same family also suffered similar symptoms of illness, and one died and the other is recovering. But the WHO said laboratory test results on the fatality were still pending, and the person who is recovering had tested negative for the new coronavirus.

The virus has no formal name, but scientists at the British and Dutch laboratories where it was identified refer to it as “London1_novel CoV 2012″.

The WHO urged all its member states to continue surveillance for severe acute respiratory infections.

“Until more information is available, it is prudent to consider that the virus is likely more widely distributed than just the two countries which have identified cases,” it said.

(Editing by Alison Williams)

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Japanese Stocks? Yes, They Really Think So

Less than a quarter-century ago, Japan was the economic envy of the world. In 1989, Tokyo-listed shares represented nearly half the planet’s equity value, while the land beneath the city’s royal palace was worth more than all of California. American nightly news anchors practically misted up when they had to report that Rockefeller Center was turning Japanese.

Two lost decades and massive property- and stock-bubble explosions later, Japan is a one-word cautionary tale. Caught in economic and demographic atrophy—and stewarded by countless false-start prime ministers—the country has become a hub for zombie banks, a generation of disenchanted youth, and fading brands such as Sony (SNE), Sharp (6753:JP), and Panasonic (PC).

Last year, for the first time, sales of adult diapers in Japan exceeded those for babies. Factor in how the strong yen has been making the country’s critical exports more expensive, and you can see why the world’s No. 3 economy (recently pushed into third place by China) has been quicksand for investors; when international markets hit bottom in early 2009, Japan’s Nikkei slumped to levels it hadn’t seen since 1983. A Merrill Lynch survey of global fund managers discovered that their net exposure to Japan is at its lowest in a decade (subscription necessary).

Accordingly, in his Nov. 14 note, “The Sun Also Rises?”, James Hunt, portfolio manager of Tocqueville’s International Value Fund and a rare Japan bull, concedes: “One of the questions we are asked most often by investors is why we would invest in Japan. Normally, there is a slight tone of derision in the question, as if to say: ‘Everyone knows that Japan has poor demographics, a huge public debt and weak growth prospects.’ And of course, all of these things are true.”

Hunt says his case for Japan boils down to its deeply contrarian pull: “Everyone thinks Japan is sinking into obscurity,” he writes, “and this negative sentiment provides us with the opportunity to buy what we consider to be excellent global franchise businesses at attractive valuations.”

Noting that Japanese equities have lagged their U.S. counterparts by 25 percent over the last two years, Hunt writes, “The storm of negative factors affecting Japan combined with the poor market performance is just of the sort of situation that piques our interest.”

Over the last 12 years of economic stagnation, Japan’s Nikkei 225 Index has, in dollar terms, posted zero total return. Meanwhile, aggregate earnings for its profitable companies have gone from ¥438 billion ($ 5.3 billion) to ¥608 billion, while their return on equity has swelled from around 6 percent to nearly 10 percent. At the same time, notes Hunt, the price-to-earnings ratio for these profitable listings has collapsed from 24 to 15, while their dividend yield has tripled to 2.3 percent.

Of course, Japan—Nikkei, Discman, and all—could just be in the middle stages of terminal decline. Zero interest rates be damned: Jobs are scarce, deflation constantly threatens, and China and Korea are not getting any easier to compete with. Japan’s debt-to-gross domestic product ratio, now well over 200 percent, is tops in the world.

Not likely, says Hunt. “There will,” he writes, “be a moment when the broad process of [equity] de-rating has run its course. With valuation multiples having compressed to quite reasonable absolute levels, we may be approaching that moment.”

“Our discipline generally is to buy good business franchises at a discount to their intrinsic value,” he adds, “and we are not as focused as many investors on catalysts and timing for the realization of value. That being said, with expectations so low and the market having underperformed, we would not be surprised to see the sun also rise in Japan.”

Hunt isn’t alone in declaring contrarian ardor for Japan. David Herro, Morningstar’s (MORN) international stock fund manager of the decade, also thinks its risk-reward profile is increasingly attractive.

Indeed, the Nikkei has recently sprinted higher on broadening sentiment that the country’s policy makers will act forcefully to lower the yen—a development that would provide a huge boost to Japanese multinationals such as Toyota (TM), Canon (CAJ), and Fuji Heavy Industries (7270:JP). The “yen rout play” is what market bloggers are already calling the trade.

Shinzo Abe, widely viewed as frontrunner to become the next prime minister, has been calling for unlimited monetary easing to incite inflation. The current governor of the (independent) Bank of Japan, who has been criticized for not being loose enough with his monetary purse strings, is expected to step down in April.

“(Shinzo) Abe’s focus is on two things—aggressive monetary and fiscal stimulus,” wrote CLSA Japan strategist Nicholas Smith in a report. “He made clear that the Bank of Japan will bend to his will or he will rewrite the BOJ Law to let him fire them.” The replacement governor, he added, will be selected for his “willingness to print money.”

“It has been a fool’s game to guess when the yen would finally weaken,” writes Hunt, “but economic healing in the West and eventually inflation and rising interest rates here could certainly be a catalyst, as could money printing in Japan.”

It should be remembered, however, that the Bank of Japan has already shattered what is widely regarded as the ultimate monetary taboo: printing money to buy equities to boost the chronically moribund economy. To little apparent avail, so far.

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Black Friday Fiscal Cliff Twitter Guide

With the dirty dishes cleared and leftovers safely in the fridge, Americans across the country start looking ahead to the winter holidays the day after Thanksgiving.

But for Congress, there’s a pretty big hurdle to handle before the House and Senate can abscond to presents and plum pudding. It’s called the fiscal cliff, and according to a recent Pew Research Poll , more Americans are paying attention to it than the scandal surrounding Gen. David Petraeus‘ resignation.

While talks and deals on budget cuts and tax increases are currently on hold, once the holiday weekend ends, it’s time to take to Twitter and follow these folks to learn what’s at stake, where each party stands and whether to expect a bipartisan deal for the new year.

Subscribe to the list on @OtusNews here.

Follow Tweeters in the House

These partisan tweeters should give a good idea of where things stand on the House side of Capitol Hill.

@SpeakerBoehner - The official Twitter account for the speaker of the House commends Republican representatives for their work on the fiscal cliff negotiations and retweets relevant articles with a GOP slant. Last Friday, a tweet from the account said, “Survey shows Americans favor GOP approach to averting #fiscalcliff http://j.mp/SsmYJT ” To see more of Boehner’s opinions on the issue and read about his meetings with key players, follow his personal account: @ JohnBoehner .

@NancyPelosi – While the House minority leader has kept her thoughts on the fiscal cliff away from Twitter for now, Pelosi expressed strong sentiments on the need for higher taxation of wealthy Americans in her interview with ABC’s Martha Raddatz Sunday. Pelosi will be a tweeter to watch as options come on and off the table – she’s a good gauge for how the rest of the party will vote.

@RepPaulRyan – The budget hawk has stayed out of the spotlight since losing the vice presidency earlier this month, but as chairman of the House Budget Committee, it’s unlikely Ryan will resist for long when spending cuts are in sight. The former VP nominee’s other Twitter account, @PaulRyanVP , spent a lot of time tweeting about the need for pro-growth policies and the reduction of government debt. Keep an eye on Ryan’s congressional account to see if those positions will factor into the negotiations this time around.

@ChrisVanHollen – As a ranking member on the House Budget Committee, Rep. Van Hollen, D-Md., has tweeted a photo of him discussing the fiscal cliff, a video of his interview on it and vitriolic attacks with the hashtag #DoNothingGOP.

Tweeters in the Senate

Ranking senators on the fiscal cliff aren’t as inclined to tweet as their House counterparts, but here is a couple to keep in your newsfeed.

@ChuckGrassley - The Republican senator from Iowa doesn’t tweet many links or videos, but he is outspoken in his digital opinions. “PresObama meets w Congressional leaders tomorrow. I hope it is a serious attempt by PresO to reach bipartisan agreement not a photo op 4tax,” Grassley tweeted Nov. 15. In addition to 140-character diatribes on the fiscal cliff, use Grassley’s feed to learn about deer hunting, the History Channel and University of Northern Iowa football.

@SenJohnMcCain – The outspoken former presidential candidate will be one to watch throughout these negotiations. In addition to offering news on foreign affairs and the state of the nation’s finances, McCain adds humor, tweeting a little pre-emptively last weekend , “Twinkies maker Hostess closes – what will we do without deep fried Twinkies at the #Iowa State Fair?”

Organizations and Think Tanks

@BudgetHawks – The handle for the Committee for a Responsible Federal Budget gives you an idea of what they’re all about. They tweet ideas, articles and commentary on how to balance the federal budget.

@CenterOnBudget – The somewhat-left-leaning Center on Budget and Policy Priorities focuses on analyzing national data to predict how possible solutions could affect Americans.

@Heritage – The Heritage Foundation brings a conservative perspective on the financial issues at stake. On Monday it tweeted a chart showing how its plan for lowering the debt stacked up against those of four other think tanks.

@AARP – A number of Democratic senators have pledged to oppose a deal that would hurt seniors, but nevertheless, Medicare and Social Security cuts could be on the table. Follow AARP to see how congressional compromises could affect older Americans.

@CSPAN­_Classroom – This account offers civics lessons for educators, but the guide to the fiscal cliff they tweeted this week has background information and interviews with lawmakers that could be helpful for anyone trying to understand the complex talks on Capitol Hill.

Observers at ABC

ABC’s @JakeTapper, @DevinDwyer and @MaryKBruce will bring the view from the White House. @RickKlein, @AmyEWalter and @ JonKarl will have analysis of the issues (most likely with sports metaphors to boot). Turn to @GStephanopoulos for the big picture. @JParkABC report on the ground from the House of Representatives and @SunlenMiller will cover the Senate.

The Instigators, 2016ers and Others

@JimDemint – U.S. Senator Jim DeMint, R-S.C., draws a hard line and likes to stir up the conversation, though the Romney backer has been unusually quiet since President Obama‘s win. We’re hoping this budget battle will be enough to rile him up again.

@TedCruz - The senator-elect from Texas will undoubtedly raise some eyebrows with his fired-up rhetoric during this showdown. As an example of his spunk, the Republican rising star essentially issued a challenge to President Obama about working together on the fiscal cliff.

@MarcoRubio – With his attendance at the Iowa governor’s birthday bash last week, it seems Sen. Rubio, R-Fla., is already preparing to court a 2016 electorate. He’ll want to command a memorable presence in this historic fiscal fight.

@GovernorOMalley – The Maryland governor is rumored to be a Democratic favorite for 2016. He’s garnered praise for reining in costs to the state.

@djheakin - Douglas Holtz-Eakin, former CBO director and current president of the American Action Forum, offers educational tweets, including an e-book with the need-to-know on the fiscal cliff.

@econjared – Jared Bernstein is a Center on Budget and Policy Priorities fellow and the former chief economist and economic adviser to Vice President Joe Biden who made some of the original predictions about the stimulus package.

For a Laugh

If talk of impending economic doom becomes a little too heavy to take, turn to @PourMeCoffee , @MrFiscalCliff and @TheOnion for tweets from the lighter side of the fiscal cliff.

And of course … @BarackObama – If the fiscal cliff fight is anything like the battle to raise the debt ceiling, President Obama will likely take to Twitter to encourage Americans to get involved and contact their representatives. You’ll know tweets that come directly from the president (and not his communications team) if they have “-BO” at the end.

Did we miss someone? Tweet your suggestions to @WordsOfSarah!

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Pussy Riot protester alone in cell after inmate tension

MOSCOW (Reuters) – Jailed Pussy Riot punk protester Maria Alyokhina has been moved to a single-person cell for her own protection because of tension with other prisoners, her lawyer and Russia‘s federal penitentiary service said on Friday.

Alyokhina, 24, is serving a two-year sentence for a raucous protest against President Vladimir Putin in Moscow‘s main Russian Orthodox cathedral. Activists said her trial, and that of two band mates, was part of a crackdown on dissent.

“There was a conflict” between Alyokhina and other inmates and “she was transferred to a individual cell,” her lawyer Irina Khrunova said by telephone. She said it was not yet clear what caused the conflict.

Prison authorities said Alyokhina was moved at her own request.

“Some tensions arose in relationships and, apparently to prevent this situation from escalating, she decided to submit a request to the prison leadership and they moved her to a one-person cell,” a federal prison service spokeswoman said.

The spokeswoman dismissed Russian media reports Alyokhina argued with inmates over religion at the Ural Mountains prison about 1,150 km (715 miles) northeast of Moscow. Pussy Riot’s protest offended many members of Russia’s Orthodox Church.

The spokeswoman also said she had no information regarding a report on the tabloid-style Life News website that Alyokhina had received violent threats from cell mates.

Alyokhina’s main meal is taken to her cell and she is accompanied by a guard when she leaves it, the spokeswoman said.

Alyokhina and two band mates were convicted in August of hooliganism motivated by religious hatred for their “punk prayer”, which the dominant Russian Orthodox Church has cast as part of a concerted attack on the church and the faithful.

The women said the protest, in which they burst into Christ the Saviour Cathedral and called on the Virgin Mary to rid Russia of Putin, was not motivated by hatred and was meant to mock the church leadership’s support for the longtime leader.

Putin, a former KGB officer who has cultivated close ties with the church over 13 years in power, has rejected criticism from the United States and European leaders who called the two-year sentences disproportionate.

Alyokhina, who has a young son, argued with the judge and cross-examined witnesses during her trial.

Her band mate Nadezhda Tolokonnikova, 23, is serving her sentence in a different prison. Yekaterina Samutsevich, 30, was freed last month when a court suspended her sentence on appeal.

(Additional reporting by Ludmila Danilova and Steve Gutterman; Writing by Nastassia Astrasheuskaya; editing by Jason Webb)

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Health Care’s Epidemic of Insider Trading

On April 14, 2011, James Fan, 39, stood on a parking garage landing at Newark Liberty International Airport, a letter from his young son in his pants pocket, about to jump four stories to his death. Fan had been charged a day earlier with insider trading based on his knowledge of confidential test results at Seattle Genetics (SGEN), a health-care company where he was manager of clinical programming. Also charged: his younger brother, Zishen, who was scheduled to take the oath of U.S. citizenship a month later. The total take, a judge later determined, was about $ 200,000. James Fan was trying to help his brother, who had found himself deep under water after the California real estate market collapsed in 2008, prosecutors said later. “The Fan case is such a cautionary tale,” says Jenny Durkan, the U.S. attorney in Seattle. “Both brothers were promising.”

The markets are awash in insider trading, and the health-care industry has been particularly hard-hit. Health-care businesses offer illegal traders abundant opportunities to profit from unpublicized data about earnings and deals. Pharmaceutical companies can live or die on the results of drug trials. And the industry has undergone significant consolidation, leading to several multibillion-dollar mergers. “Health care is particularly attractive to criminals because so much turns on the government regulatory approval,” says Rod Rosenstein, the U.S. attorney for Maryland. “If you have a pending application for a new drug, the difference between yes and no on approvals can be tens or hundreds of millions of dollars.”

The Fans are among at least 83 people who have been sued by the U.S. Securities and Exchange Commission or charged since 2008 with passing or receiving insider-trading tips involving pharmaceutical, biotechnology, or other health-care stocks. On Nov. 20, federal prosecutors charged Mathew Martoma, a former portfolio manager for Steven Cohen’s SAC Capital Advisors, with trading on insider tips about clinical trials of bapineuzumab, a drug to treat Alzheimer’s disease. They said the scheme netted as much as $ 276 million for the hedge fund. Martoma’s lawyer said his client would be exonerated. An SAC spokesman said, “Mr. Cohen and SAC are confident that they have acted appropriately and will continue to cooperate with the government’s inquiry.”

A day earlier, three executives at health-care companies Celgene (CELG), Sanofi (SNY), and Stryker (SYK) were among six people charged for their roles in an insider-trading ring that prosecutors said generated $ 1.48 million in illicit profit. Lawyers for the six men declined to comment.

The lineup of accused health industry inside traders illustrates how widespread the problem is: CEOs, hedge fund traders, bankers, lawyers, doctors, accountants, baseball players, a retired pilot, and a film producer have been charged or sued by regulators. Martha Stewart went to prison in 2004 for obstructing justice and false statements about her sale of shares of health-care company ImClone Systems (LLY), whose founder Sam Waksal was ordered to spend 87 months in jail for insider trading.

While the number of insider-trading cases in the technology industry has been roughly the same since 2008, many of those were intertwined with Raj Rajaratnam, the billionaire hedge fund manager appealing his conviction while serving an 11-year prison sentence. What’s notable about health-care corruption is its breadth. The cases include husbands stealing information from wives, fraternity brothers conspiring, and an attorney making trades on information he overheard from his daughter. (She was a lawyer visiting home for the holidays while working on Abbott Laboratories’ (ABT) acquisition of Advanced Medical Optics.) A health-care inside trader turned confidential informant on another case said he was once on a golf course with three doctors whose beepers all went off at the same moment with the same inside tip, according to an FBI agent’s interview summary obtained by Bloomberg.

James Fan, originally named Zizhong Fan, was born in 1971 in Beijing, a year before his brother. Their parents later divorced. James and his wife trained as physicians in China, where doctors’ pay was low, says his attorney in Los Angeles, Adam Braun, a former federal prosecutor. James never practiced medicine and moved to the U.S. in 1999, a year after Zishen.

In July 2008, James began work at Seattle Genetics in Bothell, Wash., as a senior statistical programmer. His job was to convert raw data from clinical trials into statistics measuring the effectiveness of drugs. In 2010 he was leading a group of programmers who analyzed the data from a pair of clinical trials on the company’s flagship drug, SGN-35, for patients with Hodgkin’s lymphoma. James learned in July 2010 that the raw data showed progress for a large majority of the patients.

Because of the drug trials, Seattle Genetics began a blackout period on employees trading company securities starting on June 22. Soon after, James wired money to China, and the money ended up in an account in his father’s name at TD Ameritrade (AMTD). On Aug. 24, Zishen Fan began using the TD Ameritrade account to buy Seattle Genetics shares and options. Over a month, the brothers spent $ 514,314 on Seattle Genetics stock and options. On Sept. 27, Seattle Genetics announced that SGN-35 cut tumor size by at least half for 75 percent of the patients in a group of 102. Shares rose almost 18 percent. Zishen Fan began exercising the options and selling shares.

The activity aroused suspicions at TD Ameritrade, which filed a complaint about possible insider trading on Oct. 27 with federal regulators. “TD Ameritrade utilizes a variety of risk management tools and surveillance methodologies to identify potentially problematic activity,” says Kristin Petrick, a company spokeswoman. The Options Regulatory Surveillance Authority, or ORSA, which monitors trading for the Chicago Board Options Exchange (CBOE) and other exchanges, also flagged the account and alerted the SEC on Dec. 13.

SEC lawyers in San Francisco, who also cover Seattle, sued, filing a complaint in January against James and Zishen Fan that laid out the insider-trading scheme. Prosecutors filed a criminal complaint against the brothers in federal court in Seattle on April 13. The next morning, FBI agents went to arrest James Fan at his home in Mill Creek, Wash. James, who had been fired by Seattle Genetics, was then working in New Jersey. His distraught wife called Braun, who phoned a prosecutor and promised to bring his client to court the next day for his initial appearance and bail hearing.

When Braun spoke with James at his job in New Jersey, James told him he would reserve a flight out of Newark. James spoke that afternoon with a friend who grew alarmed and went to the airport to find him, Braun says. The friend contacted the police, saying James was suicidal and at a parking garage. When police arrived, they found his body beside the garage.

Zishen Fan pleaded guilty in July 2011, admitting his brother gave him material, nonpublic information about SGN-35. Three months later, U.S. District Judge Marsha Pechman sentenced Fan to 18 months in prison. He is serving his term at a facility in Taft, Calif. Fan declined an interview request. His lawyer, Allen Ressler, has spoken with Fan in prison. “He says he’s enduring it,” says Ressler.

The bottom line: The Fans are among at least 83 people charged with insider trading in health-care stocks since 2008.

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Former Ivory Coast leader’s wife wanted by ICC

THE HAGUE, Netherlands (AP) — The International Criminal Court unsealed an indictment Thursday against former Ivory Coast President Laurent Gbagbo‘s wife on charges including murder, rape and persecution. It was the first time in the court’s 10-year history it has charged a woman.

The world’s first permanent war crimes tribunal said the arrest warrant was issued on Feb. 29 for former first lady Simone Gbagbo for crimes against humanity.

Her husband, Laurent Gbagbo, is already in custody at the court’s detention unit in The Hague facing similar charges stemming from his fight to retain power after losing a 2010 presidential election. If his wife is extradited, they could face justice together in an unprecedented husband-wife trial.

But a senior member of Ivory Coast President Alassane Ouattara‘s government, who requested anonymity because he wasn’t authorized to speak to the media, said Ivory Coast has already informed the ICC that the nation will not let her go.

“We informed them of this a long time ago,” he said.

The court’s chief prosecutor, Fatou Bensouda, urged Ivory Coast to extradite Gbagbo.

“The type of crimes committed in the aftermath of the 2010 elections did not happen by chance — they were planned and coordinated at the highest political and military levels and all those bearing the greatest responsibility must be held to account,” Bensouda said in a statement.

She said prosecutors continue to investigate crimes committed by both sides in Ivory Coast’s bloody power struggle and expect to issue further arrest warrants in the future.

“The investigations are objective, impartial and independent, and are conducted in strict accordance with the law,” she said.

Ivory Coast officials are holding the 63 year old under house arrest in the northwest town of Odienne. Last week, Ivorian prosecutor Noel Dje Enrike Yahau said lawyers had questioned Simone Gbagbo there for two days and that the domestic charges against her remained the same: genocide, blood crimes and economic crimes.

Unsealing the ICC arrest warrant issued nearly nine months ago appears to be a tactic by the court to put pressure on Ouattara’s administration to hand over Ms. Gbagbo.

If authorities in Ivory Coast want to prosecute her, they have to convince judges at The Hague tribunal that their case involves the same crimes she is charged with at the ICC. It is a court of last resort, meaning it only takes cases from countries unwilling or unable to prosecute them.

The international court said in the warrant that there is evidence pro-Gbagbo forces deliberately attacked perceived supporters of Ouattara in the aftermath of the election.

Judges who reviewed evidence supporting the charges against Ms. Gbagbo said they found “there are reasonable grounds to believe that Ms. Gbagbo bears individual criminal responsibility for the crimes … as ‘an indirect co-perpetrator.’”

The warrant called Gbagbo an “alter ego for her husband” with the power to make state decisions. It said there is evidence to suggest she “instructed the pro-Gbagbo forces to commit crimes against individuals who posed a threat to her husband’s power.”

Her husband was the first former head of state to be taken into custody by the court when he was extradited to The Hague by the Ivory Coast government last year.

Prosecutors say about 3,000 people died in violence by both sides after Gbagbo refused to concede defeat following the election. Ouattara finally took power in April 2011 with the help of French and U.N. forces.

Ivory Coast is not a member state of the court, but has voluntarily accepted its jurisdiction.

It is very rare for a woman to be charged by an international war crimes court. In the past, the Yugoslav war crimes tribunal convicted former Bosnian Serb President Biljana Plavsic of persecution and sentenced her to 11 years imprisonment.

The announcement of the arrest warrant and Ivory Coast’s refusal to hand over Gbagbo appeared likely to raise tensions between supporters of her husband and those who back Ouattara.

Moussa Toure Zeguen, a leader of the Gbagbo allies in exile in Ghana, said by phone from Accra that the former president’s supporters had no faith in the Ivorian authorities to give Simone Gbagbo a fair trial.

“We don’t trust them. The only thing that Ouattara is doing is revenge,” Zeguen said. “He wants to try us without trying any of the fighters from his side who also committed crimes. It is not fair, and this cannot bring reconciliation.”

____

Associated Press writers Rukmini Callimachi in Dakar, Senegal, and Robbie Corey-Boulet in Abidjan, Ivory Coast, contributed to this report.

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Do drunks have to go to the ER?

NEW YORK (Reuters Health) – With the help of a checklist, ambulance workers may be able to safely reroute drunk patients to detoxification centers instead of emergency rooms, according to a new study.

Researchers in Colorado found no serious medical problems were reported after 138 people were sent to a detox center to sleep it off, instead of to an ER.

In 2004, according to the researchers, it’s estimated that 0.6 percent of all U.S. ER visits were made by people without any problems other than being drunk. Those visits ended up costing about $ 900 million.

“Part of the issue has been – as it is in many busy ER departments – there’s a lot of chronic alcoholics that are brought in by ambulance, police or just come in. Often they are brought in because they have not committed a crime or there is limited space in our detoxification center. So the majority were brought to the ER department,” said Dr. David Ross, the study’s lead author from Penrose-St. Francis Health Services in Colorado Springs.

Ross said the ambulance company where he serves as medical director created the checklist with the help of the local detox center, which provided limited medical care by a nurse, and the local hospitals to reduce the number of drunks without medical needs being sent to the local ERs.

They created a checklist with 29 yes-or-no questions, such as whether the patient is cooperating with the ambulance worker’s examination and if the patient is willing to go to the detox center.

The patient was sent to the ER if the ambulance worker checked “no” on any question.

The researchers then went back to look at the patients they transported between December 2003 and December 2005 to see whether or not any of them ended up having serious medical problems at the detox center.

During that two year period, the ambulance workers transported 718 drunks. The detox center received 138 and the local ERs got 580.

Overall, 11 of the patients who were taken to detox were turned away because there was no room, their blood alcohol level exceeded the limit, their family came to pick them up or they were combative.

Another four patients at the detox center were taken to the ER because of minor complications, including chest and knee pain. However, there were no serious complications reported.

“We really believe that we did not miss anybody with a serious illness and injury that didn’t go to the ER as they should have,” said Ross.

But the researchers write in the Annals of Emergency Medicine that their study did have some limitations.

Specifically, the researchers did not plan in advance to do a study when they were creating the checklist, which means their findings are limited to whatever information was collected at the detox center and ERs.

Also, the number of people who were sent to the detox center in their study is relatively small, so it’s hard to tell how many serious complications they’d see among a larger group of people.

“We tried to estimate how likely we would have been to encounter a serious event… We estimated at most we’d encounter three serious adverse events (in 748 patients),” Ross told Reuters Health.

SOURCE: http://bit.ly/QgPCT5 Annals of Emergency Medicine, online November 9, 2012.

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Serious About Free Markets? Prove It

On Friday the Republican Study Committee, a policy shop for congressional Republicans, published a memo on how to fix copyright law. By Saturday afternoon the group’s executive director had pulled the memo, which had evidently failed to approach the subject with “all facts and viewpoints in hand.” This is Washington’s way of saying that an interest group hit the roof, and indeed, Ars Technica reports that lobbyists from the “content industry”—Hollywood and recording companies—pressured the group to renounce the memo.

Copyright being in fact broken, you can still read copies of the memo online. It lays out what copyright reform advocates have been saying for years. Copyright protections now extend 70 years past the life of the author; for a corporation, 95 years after publication. This, along with punitive laws on copyright violation, hinders creativity and innovation. These facts aren’t new. What’s new is the tone. Derek Khanna, the memo’s author, writes like an unashamed free marketeer, and in doing so manages to latch on to a larger point: Laws that help businesses often harm markets. From the memo:

Today’s legal regime of copyright law is seen by many as a form of corporate welfare that hurts innovation and hurts the consumer. It is a system that picks winners and losers, and the losers are new industries that could generate new wealth and added value. We frankly may have no idea how it actually hurts innovation, because we don’t know what isn’t able to be produced as a result of our current system. (Emphasis in the original.)

Radical stuff. There’s no one in Washington to lobby for industries that don’t exist yet, and ever so briefly, Khanna and the Republican Study Committee stepped into that breach. Then they stepped back, to gather more facts and viewpoints. Here’s one: Pro-business and pro-market are not the same thing. The most pleasant place for a business is not elbows-out in the middle of a free market, but sitting alone, atop a fat monopoly. Ask your local cable provider. The larger a business gets, the more it has to protect from the companies and industries that might follow it with something better or cheaper. And the best way to protect what you have is to have it written into law.

Real markets, with real competition, are most helpful to newcomers. Small businesses and new industries create new value. Once created, they, too, move to Washington to protect it. Witness the growth of Google (GOOG) and Facebook’s (FB) lobbying operations in the Capitol. Khanna describes extended copyright protection as rent-seeking—in his words, “non-productive behavior that sucks economic productivity and potential from the overall economy.” What’s true of Hollywood and the recording industry could be said of any established industry.

Luigi Zingales, a professor at the University of Chicago Booth School of Business and a regular contributor to Bloomberg View, points out that larger companies can lobby for special exemptions in the tax code. This creates complexity in the tax code, which punishes smaller businesses that can’t pay for tax lawyers and don’t have anyone’s buttonhole on Capitol Hill. Zingales prefers simple regulations and simple taxes, which are harder for lobbyists to game and easier for democracies to understand. He sees this as a bipartisan problem. The left is inclined toward more regulation, and the right is pro-business, rather than pro-markets.

The direction Khanna was headed—a defense of open, competitive markets at the expense of existing businesses—is still wide open space, claimed by no party. This summer, conservatives such as Timothy Carney at the Examiner and Yuval Levin at National Review urged Mitt Romney to back markets, not businesses. But he chose not to, even though he, in his day, disrupted existing markets of his own. Some enterprising Republican can still do it. Derek Khanna in 2016! He’s young. Maybe VP.

Businessweek.com — Top News

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Greek PM presses for deal on loan

ATHENS, Greece (AP) — Greece has reacted with dismay to the European Union‘s failure to agree to release vital rescue loan funds for the debt-ridden country, with the prime minister warning it was not just Greece’s future that hangs in the balance.

The delay prolongs uncertainty over the future of Greece, which faces a messy default that would threaten the entire euro currency used by 17 EU nations.

Prime Minister Antonis Samaras stressed that Greece has done what its creditors from the EU and International Monetary Fund required. “Our partners, along with the IMF, also must do what they have committed to doing,” he said.

He said that “it is not just the future of our country, but the stability of the entire eurozone” that depend on the success of negotiations in coming days.

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Elmo left behind on ‘Sesame Street’ as actor exits

NEW YORK (AP) — Even on “Sesame Street,” where everything is famously A-OK, problems can arise for its residents.

And that includes the Muppets. Cookie Monster grapples with an eating disorder. Oscar the Grouch gets cranky. Mr. Snuffleupagus gets the blues.

But Elmo seemed immune to any of that. Since enjoying his breakout success more than two decades ago, the 3 1/2-year-old red monster has radiated good cheer, love and trilling giggles. No wonder everyone — adults as well as children — adores him.

The key to Elmo is “his innocence, his positiveness and his sweetness,” according to Kevin Clash, the man who created him and once told The Associated Press, “I would love to be totally like Elmo.”

Now Clash has been scandalously separated from Elmo and from “Sesame Street,” the TV series where he reigned behind the scenes for 28 years.

Clash spoke of “personal matters” as the cause of his resignation Tuesday after an unthinkable nine-day stretch that began with an unnamed man in his 20s claiming he had sex with Clash at age 16. That allegation was quickly recanted. But then came another accusation of sexual abuse, and a lawsuit.

That second accuser, a 24-year-old college student named Cecil Singleton, said the actor had engaged in sexual behavior with him when he was 15. He is suing Clash for $ 5 million.

“I am deeply sorry to be leaving,” said Clash in his parting statement, “and am looking forward to resolving these personal matters privately.”

But privacy may no longer be possible for Clash, the 52-year-old divorced father of a grown daughter who acknowledged last week that he is gay. Singleton’s lawyer, Jeff Herman, said he has been contacted by two other potential victims of Clash and expects additional legal action.

At a news conference Tuesday, Singleton said he and Clash met on a gay chat line and then, for a two-week period, they engaged in sexual contact, though not intercourse. Sex with a person under 17 is a felony in New York if the perpetrator is 21 or older.

Singleton said he didn’t know Clash’s profession until years later, when he Googled the man’s name.

“I was shocked when I found out what he did for a living,” said Singleton.

Now that career has ended for Clash, who, in his dream job as a puppeteer for “Sesame Street,” was assigned a little-used puppet now known as Elmo, then turned him into a star. In the process, Clash won 23 daytime Emmy awards and one prime-time Emmy. He published his 2006 autobiography, “My Life as a Furry Red Monster,” and was the subject of the 2011 documentary “Being Elmo: A Puppeteer’s Journey.”

Elmo overshadowed Big Bird and other “Sesame” Muppets in popularity and screen time, while marginalizing the cast of live actors. Since 1998, he has had his own show-within-a-show on “Sesame Street” in addition to appearances elsewhere in the hour.

He is also a major moneymaker for Sesame Workshop, the New York-based company that produces the show, and for licensees. At his merchandising height in 1996, he inspired the Tickle Me Elmo doll, which became a cultural phenomenon and that Christmas season’s hottest toy.

This year’s Elmo dolls, “LOL Elmo,” which giggles, and “Let’s Rock! Elmo,” which sings and comes with a microphone and drum set, haven’t made any of this year’s hot toy lists. Even so, Elmo toys probably account for one-half to two-thirds of the $ 75 million in annual sales the “Sesame Street” toy line generates for toy maker Hasbro, estimates BMO Capital Markets analyst Gerrick Johnson.

Johnson said he wasn’t sure how this week’s news might affect sales of Elmo toys this holiday.

“How many people are going to want to explain to their kid why they’re not getting an Elmo?” he asked.

On Tuesday, Hasbro issued a statement saying “We are confident that Elmo will remain an integral part of Sesame Street and that Sesame Street toys will continue to delight children for years to come.”

Despite his resignation, Clash will remain an integral part of “Sesame Street” for the foreseeable future. Taping of season No. 44 will wrap by mid-December and will begin airing next September, according to someone close to the show who spoke on condition of anonymity because the person was not authorized to publicly discuss details of its production. That means new episodes with Clash performing as Elmo will presumably continue well into 2014.

As for who might take over as Elmo, other “Sesame Street” puppeteers were already being trained to serve as Clash’s stand-in, Sesame Workshop said. It’s part of an understudy policy being adopted for all the major Muppet characters.

But no one knows how Elmo will fare going forward. Will the jokes spurred by Clash’s downfall leave a lasting mark on Elmo’s image? Will there be parents who see him tainted by association with the man who brought him to life?

In the wake of a personal tragedy that may still be unfolding, Elmo’s innocence, positiveness and sweetness will be put to the test.

___

AP Television Writer David Bauder and AP Retail Writer Mae Anderson contributed to this report.

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En los pacientes de Medicare es común que se repitan los tests

NUEVA YORK (Reuters Health) – La mitad o más de los

beneficiarios de Medicare repiten los tests cardíacos,

pulmonares, estomacales o vesical en tres años, señala un

estudio.

Esas pruebas no deberían repetirse. Es más, en algunos

casos, como el ecocardiograma o la prueba de esfuerzo cardíaco,

existen recomendaciones en contra de su uso rutinario.

“Nos sorprendió la frecuencia con la que se repiten estas

pruebas”, dijo el autor principal, doctor H. Gilbert Welch, del

Instituto para las Políticas de Salud y la Práctica Clínica de

Dartmouth, New Hampshire. “O esos pacientes desarrollan nuevas

enfermedades continuamente o hay médicos que repiten los

estudios como rutina”.

Con su equipo analizó el uso de seis tests en 743.478

beneficiarios de Medicare: ecocardiograma (ultrasonido

cardíaco), prueba de esfuerzo cardíaco, test de función

pulmonar, tomografía de tórax, cistoscopía (exploración de la

vejiga con una sonda) y endoscopía superior (examen el tracto

gastrointestinal superior).

Todas las pruebas eran diagnósticas, es decir que se

realizan en personas con síntomas para que los médicos puedan

realizar un diagnóstico. Cuestan entre 200 y más de 1000

dólares.

En el período 2004-2006, entre el 7 por ciento (cistoscopía)

y el 29 por ciento (ecocardiograma) de los adultos mayores se

habían realizado esos tests por lo menos una vez.

A menudo, esos exámenes se repetían: el 35 por ciento de los

pacientes a quienes se le había indicado una endoscopía del

tracto superior volvió a hacerse la prueba en tres años. Lo

mismo ocurrió con el 55 por ciento que se había realizado un

ecocardiograma. Para el resto de los exámenes, los resultados

estuvieron dentro de ese rango.

El intervalo promedio para la repetición de los tests fue de

entre cuatro y 14 meses, según publica el equipo en Archives of

Internal Medicine.

Welch aclaró que la única excepción médica para repetir

estas pruebas es cuando los pacientes desarrollan un nuevo

conjunto de síntomas que los médicos controlan después de la

primera prueba. Pero los incentivos económicos suelen lograr que

se pidan más exámenes, sin importar la finalidad.

En el caso de un ecocardiograma, por ejemplo, “si es un

cardiólogo quien lo solicita y lo va a interpretar (…) quizás

exista un incentivo económico para sobreutilizar la prueba”,

dijo la doctora Rachel Werner, de University of Pennsylvania,

Filadelfia. “El hecho es que cobramos más por hacer más”,

agregó. Y no siempre es lo mejor.

“Los pacientes comprendieron la importancia de no usar

medicamentos innecesarios. Pero pienso que la noción

generalizada es que un test diagnóstico nunca hará daño”, dijo

Welch. Pero agregó: “Cuando lo realizamos, podríamos distraernos

con un resultado circunstancial”. Son esos resultados los que

exigen nuevas pruebas y, quizás, un tratamiento innecesario.

Su equipo halló también que las ciudades donde se realizaba

la mayor cantidad de pruebas diagnósticas iniciales también

registraban los porcentajes más altos de repetición de esos

tests.

FUENTE: Archives of Internal Medicine, online 19 de

noviembre del 2012.

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UK public sector borrowing rises

21 November 2012 Last updated at 06:39 ET

The government borrowed much more than expected in October, reducing the chances that the UK will hit its deficit reduction target in 2012-13.

UK public sector net borrowing, excluding financial interventions, hit £8.6bn in October, the Office for National Statistics (ONS) said.

That marked a sharp rise from the £5.9bn borrowed in October 2011.

This is the last set of borrowing figures before the chancellor’s Autumn Statement on 5 December.

The headline figure was worse than expected – analysts had forecast borrowing of £6bn.

Corporation tax receipts fell nearly 10% in October, a month when there is usually a heavy inflow to boost the public coffers.

A rise in day-to-day departmental spending also contributed to the higher borrowing.

For the seven months of the financial year so far, borrowing has reached £73.3bn, excluding the one-off effects from the transfer of Royal Mail pension assets.

That is £5bn higher than the same time last year.

A spokesperson for the Treasury said: “The economy is healing, but it still faces many challenges.

“These numbers illustrate that, but also show the government’s plans to bring spending under control are on track for the year.”

But Labour’s shadow chief secretary to the Treasury, Rachel Reeves, said the chancellor was borrowing billions more to pay for the cost of his economic failure.

“Having failed on jobs and growth, the government is now failing on the deficit too,” she said.

‘Wrong direction’ Continue reading the main story

AAA-rating

The best credit rating that can be given to a borrower’s debts, indicating that the risk of borrowing defaulting is minuscule.

Chris Williamson, chief economist at Markit, said the low tax receipts reflected the disappointing performance of the economy, which is experiencing weak growth and weak consumer spending.

He told the BBC that he could see no chance of the government now hitting its deficit target of £120bn for 2012-13. Current projections suggest this year’s deficit would come in closer to £130bn.

“So it’s moving totally in the wrong direction,” he said.

“The longer-term prospects are looking much more disappointing than the Office for Budget Responsibility and the government were hoping when they first set these targets out back in March.”

He added that Chancellor George Osborne was likely to announce increases in taxes, further cuts in spending, or a combination of the two, when he delivers his Autumn Statement.

Chris Williamson, Chief Economist at Markit

However, analysts at Credit Suisse said the figures were disappointing but not disastrous.

“To some extent, this poor reading was mitigated by improvements in last month’s figure, which was around £0.8bn lower (less borrowing) than previously thought.

“In addition, the good news is that the poor figure appears to have been driven by expenditure rather than receipts data. This suggests that the weakness in the numbers may not be due to weaker GDP performance feeding into weaker tax receipts.”

They also pointed out that, overall, central government receipts were up 1.8% on the year to October, while expenditure was up 7.4%.

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U.S. fiscal impact of great concern to Canada: Canada’s Harper

TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.

The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.”

(Reporting by Solarina Ho)

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Interpublic exits Facebook

(Reuters) – Interpublic Group of Cos said it sold its remaining investment in Facebook Inc for $ 95 million in cash.

Interpublic said it expects to record a pre-tax gain of $ 94 million. It had recorded a pre-tax gain of $ 132.2 million for the third quarter of last year from the sale of half of its 0.4 percent stake in Facebook.

Interpublic paid less than $ 5 million for the stake in 2006.

Shares of Facebook, which debuted with a market value of more than $ 100 billion in May, have lost nearly half their value since then on concerns about money-making prospects.

“We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature,” Chief Executive Michael Roth said in a statement.

Interpublic also authorized an increase in its existing share repurchase program to $ 400 million from $ 300 million. The company repurchased shares worth $ 151 million, as of September 30.

Shares of the company were up 1 percent at $ 10 on the New York Stock Exchange on Tuesday.

Facebook shares were marginally up at $ 23.00 on the Nasdaq.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)

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Phillip Phillips looks at life beyond “American Idol”

LOS ANGELES (Reuters) – Like the 10 winners before him, Phillip Phillips faces the uneven road from “American Idol” victor to pop-chart mainstay.

After the success of his Top 10 hit, “Home,” the Georgia native is facing a new challenge – to replicate the mainstream successes of past “Idol” winners Carrie Underwood and Kelly Clarkson on his debut album, “The World from the Side of the Moon,” released on Monday by Interscope Records.

Phillips, 22, spoke to Reuters about making his first proper studio album, what he might do differently on a second one, and whether he could have won “Idol” with this season’s panel of judges.

Q: How do you plan to transition from “American Idol” winner to a mainstream music career?

A: “It’s pretty funny that you mention that because the majority of the people I meet don’t even know that I was on ‘Idol.’ It’s really cool to hear that. When I go home, people ask, ‘What’ve you been doing? I’ve heard your song,’ but they don’t even know that I’ve been on ‘Idol.’”

Q: Your first single “Home” has gone twice platinum. You’ve said that it isn’t a song you would have written yourself. What’s your relationship now with your first hit?

A: “It’s amazing how well it has done, and I look at all the stories that I hear like how it has helped families out with their situation, or something’s happened with their kid, mom or dad, or if their child’s overseas in the war. Something like that’s pretty amazing how many different stories come out of it.”

Q: Did you have any ideas on how you wanted to develop your sound finally getting into a big-time studio?

A: “I already had the songs written, and it was just a matter of throwing in ideas and then just trimming it down to what felt right, because we only had three weeks to do this album. So it was kind of pressured, but that kind of helped out as well. It didn’t make us overthink anything.”

Q: Was there anything in particular you wanted to achieve?

A: “I wanted to make it similar to what I did on the show – a horn section and some rock. I tried to be a little artistic. I just wrote what came from my heart and what felt right.”

Q: Unlike many of the other contestants, you went into “Idol” as a songwriter, how many of the album’s songs did you write?

A: “I think five. Some of the co-writes, (the writers) really just kind of pushed me, so I kind of wrote most of those myself. But it was a lot of fun; it was a great experience.”

Q: Would you do anything differently next time?

A: “It’s still early, but I’d definitely want a little more time to do it. But that’s really about it, because three weeks is just really quick, and also I have just so many other things going on. … It was very kind of stressful and hopefully for the next record I’ll have a little more time.”

Q: What would that time allow you to do in the studio?

A: “Just being able to listen to it a little more. We all knew that it sounded really good but also having to listen to, like 17 songs in a row. You say, ‘Yeah that sounds great’ but you listen to it more and more and (say) ‘Maybe I would’ve brought this instrument down a little bit or brought it up a little bit more.’”

Q: Would you have fared any differently on ‘Idol’ with the current judges Nicky Minaj and Mariah Carey?

A: “I don’t know. I’m curious to see how they’re going to judge. It’s a completely different panel this year. … I don’t really know how I would’ve turned out. Maybe I’ll have to go out and audition again (laughs).”

Q: Would you have had to change your roots-y style?

A: “Naw, I would’ve still been the same dude. If they wouldn’t have sent me through, they wouldn’t have sent me through. And if they did, that’d be awesome.”

(Reporting By Eric Kelsey, editing by Jill Serjeant and Gunna Dickson)

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No increase in heart disease after food poisoning

NEW YORK (Reuters Health) – Despite earlier evidence tying an outbreak of E. coli infections in Canada to later heart disease, an expanded follow up study finds no link between the two.

“Although we definitely want to avoid anyone getting infected in the first place, this new information is reassuring for those who develop an infection from E. coli O157:H7,” Dr. Amit Garg, one of the authors of the study, said in a press release issued by the Canadian Medical Association Journal (CMAJ), which published the study.

This strain of E. coli bacteria polluted the drinking water supply of Walkerton, Ontario in May of 2000, sickening more than 2,300 people and resulting in seven deaths.

Food-borne E. coli infections – which affect about 265,000 people each year in the U.S., according to the Centers for Disease Control and Prevention – can damage the kidneys and lead to high blood pressure. That has raised concerns that they might also contribute to heart disease and stroke.

“There’s anecdotal evidence that certain infections immediately predate heart attack or stroke,” said Dr. Deepak Bhatt, the chief of Cardiology at VA Boston Healthcare System, who was not involved in the study.

“It’s not been clear whether it’s the infection or inflammation (from the infection) or coincidence,” Bhatt, also a professor at Harvard Medical School, told Reuters Health.

To see whether an E. coli outbreak could increase the risk of heart disease and stroke, Garg, a professor at Western University, Lawson Health Research Institute in London, Ontario, and his colleagues collected data on affected individuals from the 2000 event at a health clinic where they had annual visits.

Initially, the group seemed to have a higher risk for heart disease and stroke compared to people who had not suffered an E. coli infection. The researchers point out, however, that nearly half of the participants dropped out of the study, making those findings difficult to interpret.

In the current study, the group included 153 people who experienced severe illness during the outbreak, 414 people with mild illness, 331 people from Walkerton who did not get sick and more than 11,000 people who lived in neighboring towns that were spared from the E. coli outbreak.

In the decade following the outbreak, people who became severely sick were no more likely to later suffer a heart attack or stroke than people who lived outside of Walkerton.

In contrast, people who suffered a mild illness were actually 36 percent less likely to die from heart disease or stroke than residents of the surrounding communities.

Among people with a mild reaction to the infection, about 6 percent died during the study period, compared to about 10 percent of people who lived outside of the outbreak.

The reason is not totally clear. The authors write in their study that perhaps people in the mild-illness group didn’t get that sick from the infection – and also had a lower risk of cardiovascular death – because they were healthier than average.

(Garg would not agree to an interview with Reuters Health unless he was able to review major portions of this article in advance, a practice that violates Reuters’ policy to protect journalistic independence.)

STILL UNCLEAR?

The results from the study don’t necessarily mean infections don’t increase the risk of cardiovascular disease, said Dr. Liam Smeeth, a professor at the London School of Hygiene and Tropical Medicine, who was not part of the study.

Smeeth told Reuters Health that research has shown that any impact on the coronary arteries from infection and subsequent inflammation is short-lived, and perhaps the numbers in the Walkerton study were not big enough, or the increased risk not large enough, to be detected.

“It’s not crystal clear because it was a relatively small study,” he said.

Bhatt agreed that the findings don’t prove or disprove the idea that infections could be involved in heart disease, and it’s also possible that the type of infection might matter.

He said that it’s important to rule out the types that don’t contribute.

“I think the study’s important because it makes it very, very much less likely that gastrointestinal infections in some way are linked to atherosclerosis, and I think that finding is useful because probably investigators in the future shouldn’t focus on this area as far as causes of atherosclerosis and heart attack and stroke,” he said.

SOURCE: http://bit.ly/Te450j CMAJ, online November 19, 2012.

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Wall Street edges up as bargain hunting offsets HP, France

NEW YORK (Reuters) – Stocks inched higher on Tuesday, reversing earlier declines after bargain hunters stepped in to buy beaten-down shares and offset the impact of Hewlett-Packard‘s accounting charge and France losing its triple-A credit rating.

The S&P 500 briefly dipped below its 200-day moving average at 1,382, but recovered to trade slightly above the key technical level, which is seen as a support mark.

Stocks rallied for the last two days on optimism that Washington politicians could agree on a deal to avoid the U.S. “fiscal cliff.” But the gains followed two weeks of sharp losses.

“We got into a very oversold condition on just about any indicator and then you had intraday reversals in just about all the indexes,” said Jeffrey Saut, Raymond James Financial‘s chief investment strategist in St. Petersburg, Florida.

Shares of McDonald’s shot up 1.3 percent to $ 86.11, leading the Dow industrials’ slim advance.

Moody’s Investors Service cut France’s sovereign rating by one notch to Aa1 after the market’s close on Monday, citing an uncertain fiscal outlook as a result of the weakening economy.

While the move was expected after Standard & Poor’s made a similar downgrade in January, it was a reminder of the headwinds buffeting the global economy and the danger of contagion by the euro zone’s debt crisis.

Hewlett-Packard Co shares tumbled 10.5 percent to a 10-year low at $ 11.91 as the computer and printer maker swung to a fourth-quarter loss. The company said it took an $ 8.8 billion charge related to its acquisition of software firm Autonomy, citing “serious accounting improprieties.

A bright spot for the economy came in data showing U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market’s recovery was gathering momentum. The PHLX housing sector index <.HGX> jumped 2.4 percent, led by PulteGroup Inc , up 4.8 percent at $ 16.67.

The Dow Jones industrial average <.DJI> was up 10.34 points, or 0.08 percent, at 12,806.30. The Standard & Poor’s 500 Index <.SPX> was up 2.17 points, or 0.16 percent, at 1,389.06. The Nasdaq Composite Index <.IXIC> was up 3.41 points, or 0.12 percent, at 2,913.48.

The S&P 500 index had fallen 5.3 percent between election day two weeks ago and the start of the rebound as angst over a possible U.S. budget deal drove investors to sell stocks and limit the impact of expected tax increases on capital gains and dividends.

President Barack Obama and congressional leaders hope to start serious negotiations after the Thanksgiving holiday on Thursday to avoid the “fiscal cliff,” a series of mandatory tax hikes and spending cuts that would go into effect early next year – if a deal is not reached – and could push the U.S. economy back into recession.

(Additional reporting by Chuck Mikolajczak Editing by W Simon, Kenneth Barry and Jan Paschal)

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Oklahoma Compounding Pharmacy Laws Some of Strictest in Nation

Jerrod Roberts, owner of Flourish Integrative Pharmacy, wants people to know that it is not the science of compounding that is behind the current U.S. meningitis outbreak, but some of the people working in the industry who are not following protocol, such as at the New England Compounding Center, NECC, at the center of the outbreak, reported NewsOK.com .

Oklahoma Protects the Public with Strict Regulations for Pharmacies

Loyd Allen, editor-in-chief of the International Journal of Pharmaceutical Compounding headquartered in Edmond, Okla., and a pharmacist of 50 years duration, has been active in helping the state’s legislators develop policy and regulations for pharmacies over the years. Regulations have been in place for 40 years requiring pharmacists practicing in Oklahoma to take continuing education classes in order to renew their licenses, long before most other states put the mandate into practice.

Air quality must be monitored in the state’s compounding pharmacies, and monitor specific parts of a facility for microorganisms. Allen explained to NewsOK.com that all the regulations would mean nothing if there weren’t inspectors to monitor facilities’ adherence to the standards. Allen also told the news source that had the U.S. Food and Drug Administration had closed the NECC in 2006 when poor adherence to sanitation standards was present, the current fungal meningitis outbreak would have been averted.

Why Do We Have Compounding Pharmacies?

In the 18th and 19th centuries, all pharmacies were compounding pharmacies; there were no pharmaceutical manufacturers. But as the population grew and the demand for prescription medications increased, pharmaceutical companies emerged and grew, reducing the need for the corner druggist to compound all his customer’s prescription drugs.

Allen explains though that as the big pharmaceutical companies grew and merged, there were some drugs still needed but no longer manufactured. Couple that with the growing number of medications for which there is a shortage each year, and you can see the continued need for compounding pharmacies.

A compounding pharmacy is regulated to manufacture, package and distribute medications prescribed by a physician for a particular patient. What NECC was doing, in addition to having unsanitary conditions, was manufacturing and distributing medications in mass quantities, overriding its licensure requirements.

Fungal Meningitis Outbreak 2012 Victim Count Continues to Rise

Oklahoma is not one of the 19 states that received shipments of NECC’s tainted drug to its outpatient facilities. Meanwhile, in states such as Michigan, Tennessee, Virginia and Florida, nearly 14,000 people exposed to potentially tainted spinal and joint injections wait and watch for symptoms that may or may not develop.

The case count for fungal meningitis is now 490, with 34 resultant deaths and 11 cases of peripheral joint infection.

A number of people who have developed the fungal infection are considering, or have already filed lawsuits, according to PRweb . Congress continues to delve into exactly how this public health disaster occurred and the FDA has asked for additional regulations to increase its authority over compounding pharmacies nationally.

Smack dab in the middle of the baby boomer generation, L.L. Woodard is a proud resident of “The Red Man” state. With what he hopes is an everyman’s view of life’s concerns both in his state and throughout the nation, Woodard presents facts and opinions based on common-sense solutions.

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Infographic: California’s Katrina?

The scenario is known as “California’s Katrina.” An earthquake or superstorm causes Gold Rush-era earthen levees to collapse. Saltwater from San Francisco Bay floods the Sacramento-San Joaquin River Delta, displacing half a million lowland Californians, poisoning the water supply for as many as 28 million more who live in Los Angeles, San Diego, and Silicon Valley, and ruining farmland that produces 11 percent of the nation’s agricultural value. The eighth-largest economy in the world could be sunk for months, even years.

There are two competing proposals to avert all this. The first is to bypass the delta with tunnels carrying fresh water to Southern California. The second is to upgrade the existing levees. A bill that would have required an official cost-benefit analysis of these approaches got shot down in the state legislature. Civil engineers at University of California at Davis don’t think the levees can be earthquake-proofed. Delta landowners, fearful the levees will no longer be maintained if the tunnels were built, have refused surveyors access to their land.

In this fight, if someone doesn’t win, everyone will lose.

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Canada pledges again to balance budget by 2015

OTTAWA/NEW YORK (Reuters) – The Canadian government on Friday reiterated its intention to balance its budget by 2015, three days after projecting there would be deficits until 2016-17.

In separate appearances in Quebec City and New York, Prime Minister Stephen Harper and Finance Minister Jim Flaherty were at pains to say they still intended to end the red ink by 2015.

“It remains the government’s plan, intention, to balance the budget prior to the next federal election. The recent economic and fiscal update by the minister indicates we are actually very close to that objective,” Harper told reporters in Quebec City. The next election is in October 2015.

Flaherty’s fall fiscal update on Tuesday had pushed back the target date for eliminating the deficit by a year, to 2016-17, citing a weak global economy.

But the minister said in a speech in New York that the government was on track to balance the budget in the next two to three years, barring major external events, and he later clarified that he intended a balanced budget by 2015.

“The prime minister’s always correct,” he chuckled.

He sought to explain the discrepancy by saying the fiscal update had built in a C$ 3 billion ($ 3 billion) contingency cushion, meaning there was an underlying surplus of C$ 1.2 billion for 2015-16. He said the projection of a C$ 1.8 billion deficit amounted to about half a percent of the C$ 275 billion federal budget.

“There’s lots of water to go under the bridge between now and then,” he said.

The opposition New Democratic Party noted the discrepancy in a release headlined: “Stephen Harper makes stuff up about balancing the budget.”

It pointed out that balancing the budget by the next election was not the same as balancing it by 2016-17.

As it is, even the 2015-16 timetable is a year later than offered in the Conservative campaign for reelection in May 2011. They had promised a balanced budget by 2014-15, followed by major personal income tax relief before the 2015 election.

Flaherty’s timetable drew criticism this week from the Canadian Taxpayers Federation, which said the minister had become expert at kicking the can down the road.

The projections could be thrown out of whack if the United States goes off the fiscal cliff, a set of automatic tax hikes and spending cuts that are to be triggered on January 2 if legislators and the White House cannot agree on a more nuanced budget deal.

Flaherty said U.S. failure to avert the fiscal cliff would cause a significant and immediate decline in Canada’s gross domestic product, and he would counter it.

Referring to a possible economic shock from Europe or the United States, he said: “If that were to happen and if the Canadian economy were to be pushed back into recession with the resulting danger for higher unemployment and the danger always of a prolonged recession, then we would act.”

He added: “We would not stand by and let that happen. The kinds of measure we can take: there are various tax measures we can take, there are measures with respect to stimulus we can take, these are things that we have done before and we can do again.”

On Tuesday, Flaherty spoke of having prepared various contingency plans.

(Additional reporting by Louse Egan; Editing by David Gregorio)

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