Wall Street opens flat, Obama to speak on "cliff"

NEW YORK (Reuters) - Wall Street opened flat on Friday, amid caution ahead of a statement from President Obama on the progress of budget talks in Washington that have fueled volatility and nervousness in the financial markets.


The Dow Jones industrial average <.dji> gained 5.45 points, or 0.04 percent, to 13,027.27. The Standard & Poor's 500 Index <.spx> dropped 0.51 points, or 0.04 percent, to 1,415.44. The Nasdaq Composite Index <.ixic> gained 0.07 points, or 0.00 percent, to 3,012.10.


(Reporting by Edward Krudy; Editing by Bernadette Baum)


Read More..

Hacking Report Criticizes Murdoch Newspaper and British Press Standards





LONDON — The leader of a major inquiry into the standards of British newspapers triggered by the phone hacking scandal offered an excoriating critique of the press as a whole on Thursday, saying it displayed “significant and reckless disregard for accuracy,” and urged the press to form an independent regulator to be underpinned by law.







Dan Kitwood/Getty Images

Lord Justice Sir Brian Leveson on Thursday with his inquiry on press standards.








Kerim Okten/European Pressphoto Agency

The British actor Hugh Grant arrived Thursday at the Queen Elizabeth II conference center in London, where Lord Justice Sir Brian Leveson was scheduled to release a report on the British press.






The report singled out Rupert Murdoch’s defunct tabloid The News of the World for sharp criticism.


“Too many stories in too many newspapers were the subject of complaints from too many people with too little in the way of titles taking responsibility, or considering the consequences for the individuals involved,” the head of the inquiry, Lord Justice Sir Brian Leveson, said in a 46-page summary of the findings in his long-awaited, 1,987-page report published in four volumes.


“The ball moves back into the politicians’ court,” Sir Brian said, referring to what form new and tighter regulations should take. “They must now decide who guards the guardians.”


Mr. Murdoch closed the 168-year-old News of the World in July 2011 as the phone hacking scandal blossomed into broad public revulsion with reports that the newspaper had ordered the interception of voice mail messages left on the cellphone of Milly Dowler, British schoolgirl who was abducted in 2002 and later found murdered.


Sir Brian said there had been a “failure of management and compliance” at The News of the World, accusing it of a “general lack of respect for individual privacy and dignity.”


“It was said that The News of the World had lost its way in relation to phone hacking,” the summary said. “Its casual attitude to privacy and the lip service it paid to consent demonstrated a far more general loss of direction.”


Speaking after the report was published, Sir Brian said that while the British press held a “privileged and powerful place in our society,” its “responsibilities have simply been ignored.”


“A free press in a democracy holds power to account. But, with a few honorable exceptions, the U.K. press has not performed that vital role in the case of its own power.”


“The press needs to establish a new regulatory body which is truly independent of industry leaders and of government and politicians,” he said. “Guaranteed independence, long-term stability and genuine benefits for the industry cannot be realized without legislation,” he said, adding: “This is not and cannot reasonably or fairly be characterized as statutory regulation of the press.”


In the body of the exhaustive report, reprising at length the testimony of many of the witnesses who spoke at the hearings, the document discusses press culture and ethics; explores the press’s attitude toward the subjects of its stories; and discusses the cozy relationship between the press and the police, and the press and politicians.


The report devotes an entire section to The News of the World. Using a number of case studies that came from the testimony of witnesses, it described a newsroom under immense pressure to bring in stories exclusively and quickly, full of journalists with cavalier and sometimes cruel attitudes toward the privacy and feelings of the people they were covering. Sir Brian said that reporters regularly obtained illegal information about their subjects, harassed and threatened subjects into cooperating, and concealed their identities in pursuit of stories.   


Concluding the section on the ethical  practices and culture of the news media, Sir Brian said he recognized that “most of what the press does is good journalism free from the sort of vices I have had to address at length.” But still,  he says, “it is essential that the need for a fresh start in press regulation is fully embraced and a new regime thereafter implemented.”


In the current system of self-regulation by a body called the Press Complaints Commission, newspapers effectively regulate themselves. The report urged the creation of a new independent regulatory body with powers to fine offending newspapers up to $1.6 million, made up of people who are not serving editors and should not be either lawmakers or figures from the government.


Lark Turner contributed reporting.



Read More..

Past hosts teaming for Spike Video Game Awards












LOS ANGELES (AP) — The Spike Video Game Awards are assembling past hosts.


The cable network announced Thursday that the gaming extravaganza’s previous emcees would join “The Avengers” star and four-time VGAs host Samuel L. Jackson at next week’s show.












Previous hosts Zachary Levi, Snoop Lion, Jack Black and Neil Patrick Harris are set to appear at the 10th annual ceremony.


The show will also feature debut footage from upcoming games “BioShock Infinite,” ”Castlevania: Lords of Shadow 2″ and “Tomb Raider,” and from downloadable content “Spartan Ops” for “Halo 4″ and “The Tyranny of King Washington” for “Assassin’s Creed III.”


“Assassin’s Creed III,” ”Dishonored,” ”Journey,” ”Mass Effect 3″ and “The Walking Dead: The Game” are vying for the best game trophy.


The VGAs will air live on Spike on Dec. 7 from Sony Picture Studios in Culver City, Calif.


Gaming News Headlines – Yahoo! News


Read More..

Jude Law: I'm Okay Not Being 'That Young Pretty Thing' Anymore




Style News Now





11/29/2012 at 09:15 AM ET



Jude Law T Magazine
Courtesy T, The New York Times Style Magazine


While most people dread getting older, Jude Law is actually thrilled about it. And not for any reason you’d expect.


“In a weird way, it’s kind of a relief to think, ‘Oh, I know I’m not that young sort of pretty thing anymore,’” Law tells T, The New York Times Style Magazine. And at 39 years old, the actor admits he’d much rather reflect on his heartthrob days than relive them. “It’s quite nice talking about what it was like to be the young pretty thing, rather than being it.”


And though Law might not consider himself pretty anymore, he was still a bit too good looking for his role in Anna Karenina, in which he plays Anna’s older controlling husband (below). The director, Joe Wright, reveals in the T Magazine cover story, “I had to stop him [from] doing his ‘handsome face.’”


Another part of himself that Law had to change? His hair. Law’s character is almost bald. And while some actors would choose to wear a bald cap and wig, Law embraced the look. “[I was] surprised when he chose to actually cut his hair that way and not just wear a wig,” his co-star Keira Knightley admits in the feature.



To read more of Law’s cover story, pick up T, The New York Times Style Magazine Holiday 2012 edition, available this weekend, or click over to nytimes.com. Tell us: Do you prefer Law now or back in his heartthrob days (think 1997′s Gattaca)?


Jude Law Anna KareninaLaurie Sparham/Focus Features


–Jennifer Cress


PHOTOS: FEAST YOUR EYES ON MORE GOOD-LOOKING GUYS!


Read More..

Wall Street climbs at open on "cliff" deal hope

NEW YORK (Reuters) - U.S. stocks rose in early trading on Thursday on optimism that Congress was progressing toward a fiscal agreement in Washington that would avert a possible recession.


Market participants are focused on discussions in Congress over avoiding big spending cuts and tax hikes, known as the "fiscal cliff," beginning in January. Still, equities may retreat, as they did Tuesday, if the upbeat negotiation environment in Washington deteriorates.


"There will be a deal before December 31 to avert the economy facing disaster," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"We're back on track for a year-end rally to continue," he said.


The yield on Italy's 10-year bonds fell to the lowest in two years at an auction, amid relief that immediate risks over Greece had diminished.


"The fact that the bond sales in Europe went well suggest confidence is beginning to reenter some of the peripheral nations and that is a good sign," Cardillo said.


The euro briefly touched the $1.30 level and is near its highs for November, boosting commodity prices. The S&P materials sector index <.gspm> led gains with a 0.8 percent advance.


The Dow Jones industrial average <.dji> rose 50.15 points, or 0.39 percent, to 13,035.26. The S&P 500 <.spx> gained 7.07 points, or 0.50 percent, to 1,417.00. The Nasdaq Composite <.ixic> added 20.21 points, or 0.68 percent, to 3,011.99.


Equity markets may also be supported by data showing the U.S. economy grew faster than first reported between July and September. Separate data showed the number of Americans filing new claims for unemployment benefits dropped for a second week, and a larger-than-expected 3.3 percent advance in third-quarter corporate profits.


Due for release later Thursday are pending home sales for October, at 10:00 a.m. (1500 GMT), and the Federal Reserve Bank of Kansas City November manufacturing survey at 11:00 a.m.


Kroger , the biggest U.S. supermarket operator, added 3.3 percent to $25.89 after reporting earnings.


Tiffany shares slumped 7.9 percent to $58.72 after the upscale jeweler reported quarterly results and cut its full-year sales and profit forecasts.


Top retailers said weak sales in early November, after superstorm Sandy, were a drag on the month. Target fell 2 percent and Kohl's Corp dropped 10.3 percent.


U.S.-listed shares of BlackBerry maker Research In Motion surged 8.5 percent to $12.06 after Goldman Sachs upgraded the stock to "buy" from "neutral."


(Editing by Bernadette Baum)


Read More..

News Analysis: Sunni Leaders Gaining Clout in Mideast


Mohammed Saber/European Pressphoto Agency


A Palestinian woman in Gaza City on Tuesday walked amid the rubble left from eight days of fighting that ended in a cease-fire.







RAMALLAH, West Bank — For years, the United States and its Middle East allies were challenged by the rising might of the so-called Shiite crescent, a political and ideological alliance backed by Iran that linked regional actors deeply hostile to Israel and the West.




But uprising, wars and economics have altered the landscape of the region, paving the way for a new axis to emerge, one led by a Sunni Muslim alliance of Egypt, Qatar and Turkey. That triumvirate played a leading role in helping end the eight-day conflict between Israel and Gaza, in large part by embracing Hamas and luring it further away from the Iran-Syria-Hezbollah fold, offering diplomatic clout and promises of hefty aid.


For the United States and Israel, the shifting dynamics offer a chance to isolate a resurgent Iran, limit its access to the Arab world and make it harder for Tehran to arm its agents on Israel’s border. But the gains are also tempered, because while these Sunni leaders are willing to work with Washington, unlike the mullahs in Tehran, they also promote a radical religious-based ideology that has fueled anti-Western sentiment around the region.


Hamas — which received missiles from Iran that reached Israel’s northern cities — broke with the Iranian axis last winter, openly backing the rebellion against the Syrian president, Bashar al-Assad. But its affinity with the Egypt-Qatar-Turkey axis came to fruition this fall.


“That camp has more assets that it can share than Iran — politically, diplomatically, materially,” said Robert Malley, the Middle East program director for the International Crisis Group. “The Muslim Brotherhood is their world much more so than Iran.”


The Gaza conflict helps illustrate how Middle Eastern alliances have evolved since the Islamist wave that toppled one government after another beginning in January 2011. Iran had no interest in a cease-fire, while Egypt, Qatar and Turkey did.


But it is the fight for Syria that is the defining struggle in this revived Sunni-Shiite duel. The winner gains a prized strategic crossroads.


For now, it appears that that tide is shifting against Iran, there too, and that it might well lose its main Arab partner, Syria. The Sunni-led opposition appears in recent days to have made significant inroads against the government, threatening the Assad family’s dynastic rule of 40 years and its long alliance with Iran. If Mr. Assad falls, that would render Iran and Hezbollah, which is based in Lebanon, isolated as a Shiite Muslim alliance in an ever more sectarian Middle East, no longer enjoying a special street credibility as what Damascus always tried to sell as “the beating heart of Arab resistance.”


If the shifts seem to leave the United States somewhat dazed, it is because what will emerge from all the ferment remains obscure.


Clearly the old leaders Washington relied on to enforce its will, like President Hosni Mubarak of Egypt, are gone or at least eclipsed. But otherwise confusion reigns in terms of knowing how to deal with this new paradigm, one that could well create societies infused with religious ideology that Americans find difficult to accept. The new reality could be a weaker Iran, but a far more religiously conservative Middle East that is less beholden to the United States.


Already, Islamists have been empowered in Egypt, Libya and Tunisia, while Syria’s opposition is being led by Sunni insurgents, including a growing number identified as jihadists, some identified as sympathizing with Al Qaeda. Qatar, which hosts a major United States military base, also helps finance Islamists all around the region.


In Egypt, President Mohamed Morsi resigned as a member of the Muslim Brotherhood only when he became head of state, but he still remains closely linked with the movement. Turkey, the model for many of them, has kept strong relations with Washington while diminishing the authority of generals who were longstanding American allies.


“The United States is part of a landscape that has shifted so dramatically,” said Mr. Malley of the International Crisis Group. “It is caught between the displacement of the old moderate-radical divide by one that is defined by confessional and sectarian loyalty.”


The emerging Sunni axis has put not only Shiites at a disadvantage, but also the old school leaders who once allied themselves with Washington.


The old guard members in the Palestinian Authority are struggling to remain relevant at a time when their failed 20-year quest to end the Israeli occupation of Palestinian lands makes them seem both anachronistic and obsolete.


“Hamas has always argued that it is the future of the changes in the region because of its revolutionary nature, that it is part of the religious political groups who have been winning the revolutions,” said Ghassan Khatib, an official at Birzeit University and former government spokesman.


Read More..

Angus T. Jones's Video Surprises Two and a Half Men Set















11/28/2012 at 08:35 AM EST



After the Charlie Sheen tiger blood debacle, it would seem that nothing could shock the cast and crew of Two and a Half Men anymore.

Then came the Angus T. Jones video.

"This came as a surprise to most people. This isn't who he grew up as," a source on the show tells PEOPLE. "He's always been a good kid and he's very well-liked by everyone at the show."

The 19-year-old has blasted the CBS sitcom that pays him a reported $350,000 an episode, saying in a video posted on a religious website: "Please stop watching it. Please stop filling your head with filth."

The comments came during an apparent religious awakening for the actor in the Seventh-Day Adventist Church.

“We are happy that Angus has joined the Seventh-Day Adventist family and has found a place in which he feels comfortable to worship and grow his faith,” says George Johnson, a church spokesman. “Recently, Angus made some statements concerning his spiritual journey and expressed his views concerning the television program
Two and a Half Men.

"These comments are of a personal nature, reflecting his views after having undergone changes during his spiritual journey," Johnson continues. "We welcome him with open arms to the worldwide Seventh-Day Adventist Church family and are excited about his commitment to God through his recent baptism at his church."

Neither Jones nor reps for the show have spoken out.

The actor won't be on the set this week – which was previously planned because his character isn't involved in this episode.

"The cast was really surprised by the video," says a second source on set. "At first they didn't believe he'd say those things. ... He always has a great attitude, which is why everyone was surprised. He's friendly and talented and great at his job."

Reporting by MONICA RIZZO, AILI NAHAS and MELODY CHIU

Read More..

CDC: HIV spread high in young gay males

NEW YORK (AP) — Health officials say 1 in 5 new HIV infections occur in a tiny segment of the population — young men who are gay or bisexual.

The government on Tuesday released new numbers that spotlight how the spread of the AIDS virus is heavily concentrated in young males who have sex with other males. Only about a quarter of new infections in the 13-to-24 age group are from injecting drugs or heterosexual sex.

The Centers for Disease Control and Prevention said blacks represented more than half of new infections in youths. The estimates are based on 2010 figures.

Overall, new U.S. HIV infections have held steady at around 50,000 annually. About 12,000 are in teens and young adults, and most youth with HIV haven't been tested.

___

Online:

CDC report: http://www.cdc.gov/vitalsigns

Read More..

Wall Street opens lower on "cliff" worry

NEW YORK (Reuters) - Stocks opened lower on Wednesday, putting the S&P 500 on track for a third consecutive decline, as investors remained on edge given the lack of details on U.S. budget, or so-called fiscal cliff, talks.


The Dow Jones industrial average <.dji> dropped 53.22 points, or 0.41 percent, to 12,824.91. The Standard & Poor's 500 Index <.spx> dropped 7.44 points, or 0.53 percent, to 1,391.50. The Nasdaq Composite Index <.ixic> dropped 15.70 points, or 0.53 percent, to 2,952.09.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)


Read More..

Anti-Morsi Protesters Gather on Cairo Streets





CAIRO — Demonstrators began flowing into the streets of Cairo on Tuesday for a day of protest against President Mohamed Morsi’s effort to assert broad new powers, dismissing his efforts only hours before to reaffirm his deference to Egyptian law and courts.  




Hundreds of protesters gathered outside the headquarters of the lawyers’ trade group as others milled around a small tent city erected in Tahrir Square, both groups echoing the chants of the uprising that ousted President Hosni Mubarak almost two years ago.


“Leave, leave!” they chanted, referring to Mr. Morsi. “Bring down the regime.”


A few blocks away, in a square near both the American Embassy and the Interior Ministry, groups of young men resumed a nine-day-old battle with riot police, responding to tear gas canisters with rocks.


Although the clashes grew out of anger over the deaths of dozens of protesters in similar clashes one year ago, the rowdy and often apolitical combatants have adopted the banner of protest against Mr. Morsi as well.


Larger crowds were expected in the evening as marches from around the city headed for Tahrir Square — the focal point of Egyptian protests — at the end of the working day.


Many schools and other businesses had closed in anticipation of violence in the streets.


The Muslim Brotherhood, the Islamist group allied with Mr. Morsi, called off a rival protest, saying it sought to avert violence between the groups. And the leader of Al Azhar, the center of Sunni Muslim learning that is regarded as the pre-eminent moral authority here, met with groups of political leaders in an effort to resolve the battle over the president’s decree and the deadlock in the constitutional assembly that has snarled Egypt’s political transition 22 months after Mr. Mubarak’s ouster.


On Monday, with public pressure mounting, Mr. Morsi appeared to pull back from his effort to assert an authority beyond the reach of any court.


After Mr. Morsi met for hours with the judges of Egypt’s Supreme Judicial Council, his spokesman read an “explanation” on television that appeared to backtrack from a presidential decree placing Mr. Morsi’s official edicts above judicial scrutiny — even while saying the president had not actually changed a word of the statement.


Though details of the talks remained hazy, and it was not clear whether the opposition or the court would accept his position, Mr. Morsi’s gesture was another demonstration that Egyptians would no longer allow their rulers to operate above the law. But there appeared little chance that the gesture alone would be enough to quell the crisis set off by his perceived power grab.


The presidential spokesman, Yasser Ali, said for the first time that Mr. Morsi had sought only to assert pre-existing powers already approved by the courts under previous precedents, not to free himself from judicial oversight.


He said that the president meant all along to follow an established Egyptian legal doctrine suspending judicial scrutiny of presidential “acts of sovereignty” that work “to protect the main institutions of the state.” The judicial council had said Sunday that it could bless aspects of the decree deemed to qualify under the doctrine.


Mr. Morsi had maintained from the start that his purpose was to empower himself to prevent judges appointed by Mr. Mubarak from dissolving the constituent assembly, which is led by his fellow Islamists of the Muslim Brotherhood’s Freedom and Justice Party. The courts have already dissolved the Islamist-led Parliament and an earlier constituent assembly, and the Supreme Constitutional Court was widely expected to rule against this one next week.


But the text of the original decree had exempted all presidential edicts from judicial review until the ratification of a constitution, not just those edicts related to the assembly or justified as “acts of sovereignty.”


Legal experts said that the spokesman’s explanations of the president’s intentions, if put into effect, would amount to a revision of the decree Mr. Morsi issued on Thursday. But lawyers said that the verbal statements alone carried little legal weight.


How the courts would apply the doctrine remained hard to predict. And Mr. Morsi’s opposition indicated it was holding out for far greater concessions, including the breakup of the whole constituent assembly.


Speaking at a news conference Monday while Mr. Morsi was meeting with the judges, the opposition activist and intellectual Abdel Haleem Qandeil called for “a long-term battle,” declaring that withdrawal of Mr. Morsi’s new powers was only the first step toward the opposition’s goal of “the withdrawal of the legitimacy of Morsi’s presence in the presidential palace.” Completely withdrawing the edict would be “a minimum,” he said.


Read More..