Wall St Week Ahead: Holiday "on standby" as clock ticks on cliff

NEW YORK (Reuters) - The last two weeks of December are traditionally quiet for stocks, but traders accustomed to a bit of time off are staying close to their mobile devices, thanks to the "fiscal cliff."

Last-minute negotiations in Washington on the so-called fiscal cliff - nearly $600 billion of tax increases and spending cuts set to take effect in January that could cause a sharp slowdown in growth or even a recession - are keeping some traders and analysts from taking Christmas holidays because any deal could have a big impact on markets.

"A lot of firms are saying to their trading desks, 'You can take days off for Christmas, but you are on standby to come in if anything happens.' This is certainly different from previous years, especially around this time of the year when things are supposed to be slowing down," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade in Chicago.

"Next week is going to be a Capitol Hill-driven market."

With talks between President Barack Obama and House Speaker John Boehner at an apparent standstill, it was increasingly likely that Washington will not come up with a deal before January 1.

Gordon Charlop, managing director at Rosenblatt Securities in New York, will also be on standby for the holiday season.

"It's a 'Look guys, let's just rotate and be sensible" type of situation going on," Charlop said.

"We are hopeful there is some resolution down there, but it seems to me they continue to walk that political tightrope... rather than coming up with something."

Despite concerns that the deadline will pass without a deal, the S&P 500 has held its ground with a 12.4 percent gain for the year. For this week, though, the S&P 500 fell 0.3 percent.

BEWARE OF THE WITCH

This coming Friday will mark the last so-called "quadruple witching" day of the year, when contracts for stock options, single stock futures, stock index options and stock index futures all expire. This could make trading more volatile.

"We could see some heavy selling as there is going to be a lot of re-establishing of positions, reallocation of assets before the year-end," Kinahan said.

RETHINKING APPLE

Higher tax rates on capital gains and dividends are part of the automatic tax increases that will go into effect next year, if Congress and the White House don't come up with a solution to avert the fiscal cliff. That possibility could give investors an incentive to unload certain stocks in some tax-related selling by December 31.

Some market participants said tax-related selling may be behind the weaker trend in the stock price of market leader Apple . Apple's stock has lost a quarter of its value since it hit a lifetime high of $705.07 on September 21.

On Friday, the stock fell 3.8 percent to $509.79 after the iPhone 5 got a chilly reception at its debut in China and two analysts cut shipment forecasts. But the stock is still up nearly 26 percent for the year.

"If you owned Apple for a long time, you should be thinking about reallocation as there will be changes in taxes and other regulations next year, although we don't really know which rules to play by yet," Kinahan said.

But one indicator of the market's reduced concern about the fiscal cliff compared with a few weeks ago, is the defense sector, which will be hit hard if the spending cuts take effect. The PHLX Defense Sector Index <.dfx> is up nearly 13 percent for the year, and sits just a few points from its 2012 high.

(Reporting by Angela Moon; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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Currents: School Takes New Tack on Work Study

NEW YORK — “I was raised into believing that money is everything,” said Maire Mendoza, 19, crying at her own tale.

Her parents are near-invisibles in this city that they’ve heard called a city of dreams. They left Mexico before Maire was born and have toiled anonymously ever since — her mother a baby sitter these days, her father a restaurant worker.

They raised their girls as pragmatic survivors. So it was startling when Maire came to them not long ago with an epiphany: “I now know that I don’t want to work for money,” she said, to bafflement. But her father, sensing his limitations, deferred. “You’re probably right,” she remembers him saying, “and it’s because you go to school and you know things that we don’t know.”

Ms. Mendoza’s self-discovery was no accident. Such discoveries are the goal of an audacious experiment in New York that seeks to improve the fortunes of community college students by demolishing and rebuilding their perceptions about work.

Community colleges are the bedrock of American higher education. They often take all comers — clever teenagers, 25-year-old ex-drifters, middle-aged downsizees in need of retraining — and let them study as needed: a class at a time or a full load, for a degree or for fun. In a nation whose mythology declaims that all who try can make it, community colleges are among the last hopes of proving the mythology true.

But their anything-goes approach has come under fire in recent years, in part because of dismal graduation rates, which can hover in the twenties, teens or even single digits in some cases.

“The job the country needs community colleges to do now (better success) is different from the job needed from them (broader access) when the community college movement began,” said Allan C. Golston, president of the U.S. program of the Bill and Melinda Gates Foundation, which has pressed for major reforms.

Thanks in part to the reformers’ pressure, the New Community College opened here this autumn, with Ms. Mendoza in the inaugural class. It is an experimental institution within the City University of New York, with a mission to take the students whom community colleges usually fail — they’re still taken first-come, first-serve, not by application — and hugely lift their trajectories.

The college pulls on many levers to achieve that goal — requiring students to be full-timers; limiting courses of study to six fields with proven job prospects; offering abundant counseling. But the most intriguing idea may be a mandatory first-year class called “Ethnographies of Work.”

The course grew out of findings that students who attend community colleges — who in New York come overwhelmingly from low-income or minority backgrounds — often harbor negative associations with work, said Nancy Hoffman, an education scholar who has advised the new college. In these students’ communities, work may be primarily experienced as soul-crushing or exploitative or elusive or illegal.

“Mostly in my community, it’s just to survive,” said Jesus A. Paredes, 18, another first-year student at the New Community College. “Nobody really followed their passion. Or if they did follow their passion, it didn’t go right.”

And so, for their ethnography class this autumn, students fanned out across New York to investigate work. They sat in offices and recorded observations (how workers dressed, their mood, how authority was expressed). They interviewed lawyers, social workers, techies. They kept journals about their own attitudes. The purpose was to reach a deeper understanding of what work is (the topic of their final paper), and how — as Ms. Mendoza was seeking to do — to reconcile the impulse to survive with one’s passions.

“Work is something people do and get paid for,” one student wrote in her final paper. “Work is the foundation of purpose,” said another.

For Jeslyn Ruiz, 18, the class gave her the courage to tell her grandmother that, no, she won’t be a nurse; she wants to be a lighting director for concerts. Her grandmother, who came to the United States from Puerto Rico, laughed in her face. “Oh, no, you’ll be a nurse,” she said, not commanding, just mournfully predicting.

Sherine Smith, 21, came to the course with the notion that “I have to make the most money possible” doing the least possible work. Meeting real-life workers had convinced her that money may not leave you better off and was forcing her to reconsider.

Out of nine students who gathered to meet with a reporter, six said they emerged from the class persuaded that job and passion must align. Derek Norman, a 22-year-old musician who wants to join the Fire Department and confine his music to after-hours gigs, spoke for the keep-them-separate camp: “I don’t feel that you need to take the two of them and mend them together.”

Some of the students seemed less sure of their ultimate direction but were still savoring a strange and stirring semester. For Mr. Paredes, a denizen of this most vertical of cities whom fate has kept close to the ground floor, the homework to interview a successful lawyer delivered on a long-deferred dream: “I’ve never been to a 52nd floor,” he said. He quite liked it up there.

Join an online conversation at http://anand.ly; Follow on Twitter.com/anandwrites

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Games top App Store revenue in 2012

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Gunman's Father and Brother Are 'in Shock,' Says a Source

By Diane Herbst

12/14/2012 at 08:50 PM EST

State police personnel lead children to safety away from the Sandy Hook Elementary School

Shannon Hicks/Newtown Bee/Reuters/Landov

The father and older brother of the gunman who was blamed for the Connecticut school shooting are being questioned by authorities but are not suspects, a law enforcement source tells PEOPLE.

The Associated Press reports that the gunman has been identified as 20-year-old Adam Lanza.

His unidentified father, who lives in New York City, and his older brother, Ryan, 24, of Hoboken, N.J., are "in shock," the law enforcement source tells PEOPLE.

They were being questioned by the FBI in the Hoboken police station but "are not suspects, they have no involvement," the source says.

"Imagine the 24 year old – he's lost his mother. Imagine the father, his son killed 20 kids," the source says."   

As for Adam, "It looks like there's mental history there," the law enforcement source says.

Adam Lanza died at the scene of the shooting that killed 20 children and six adults at the Sandy Hook Elementary School in Newtown, Conn.

His mother, Nancy Lanza, was found dead at her home, according to CNN.

The source describes the weapons used by Lanza as "legitimate." According to CNN, Lanza used two hand guns that were registered to his mother and a rifle.

Adam's parents were no longer together, the source says.   

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Fewer health care options for illegal immigrants

ALAMO, Texas (AP) — For years, Sonia Limas would drag her daughters to the emergency room whenever they fell sick. As an illegal immigrant, she had no health insurance, and the only place she knew to seek treatment was the hospital — the most expensive setting for those covering the cost.

The family's options improved somewhat a decade ago with the expansion of community health clinics, which offered free or low-cost care with help from the federal government. But President Barack Obama's health care overhaul threatens to roll back some of those services if clinics and hospitals are overwhelmed with newly insured patients and can't afford to care for as many poor families.

To be clear, Obama's law was never intended to help Limas and an estimated 11 million illegal immigrants like her. Instead, it envisions that 32 million uninsured Americans will get access to coverage by 2019. Because that should mean fewer uninsured patients showing up at hospitals, the Obama program slashed the federal reimbursement for uncompensated care.

But in states with large illegal immigrant populations, the math may not work, especially if lawmakers don't expand Medicaid, the joint state-federal health program for the poor and disabled.

When the reform has been fully implemented, illegal immigrants will make up the nation's second-largest population of uninsured, or about 25 percent. The only larger group will be people who qualify for insurance but fail to enroll, according to a 2012 study by the Washington-based Urban Institute.

And since about two-thirds of illegal immigrants live in just eight states, those areas will have a disproportionate share of the uninsured to care for.

In communities "where the number of undocumented immigrants is greatest, the strain has reached the breaking point," Rich Umbdenstock, president of the American Hospital Association, wrote last year in a letter to Obama, asking him to keep in mind the uncompensated care hospitals gave to that group. "In response, many hospitals have had to curtail services, delay implementing services, or close beds."

The federal government has offered to expand Medicaid, but states must decide whether to take the deal. And in some of those eight states — including Texas, Florida and New Jersey — hospitals are scrambling to determine whether they will still have enough money to treat the remaining uninsured.

Without a Medicaid expansion, the influx of new patients and the looming cuts in federal funding could inflict "a double whammy" in Texas, said David Lopez, CEO of the Harris Health System in Houston, which spends 10 to 15 percent of its $1.2 billion annual budget to care for illegal immigrants.

Realistically, taxpayers are already paying for some of the treatment provided to illegal immigrants because hospitals are required by law to stabilize and treat any patients that arrive in an emergency room, regardless of their ability to pay. The money to cover the costs typically comes from federal, state and local taxes.

A solid accounting of money spent treating illegal immigrants is elusive because most hospitals do not ask for immigration status. But some states have tried.

California, which is home to the nation's largest population of illegal immigrants, spent an estimated $1.2 billion last year through Medicaid to care for 822,500 illegal immigrants.

The New Jersey Hospital Association in 2010 estimated that it cost between $600 million and $650 million annually to treat 550,000 illegal immigrants.

And in Texas, a 2010 analysis by the Health and Human Services Commission found that the agency had provided $96 million in benefits to illegal immigrants, up from $81 million two years earlier. The state's public hospital districts spent an additional $717 million in uncompensated care to treat that population.

If large states such as Florida and Texas make good on their intention to forgo federal money to expand Medicaid, the decision "basically eviscerates" the effects of the health care overhaul in those areas because of "who lives there and what they're eligible for," said Lisa Clemans-Cope, a senior researcher at the Urban Institute.

Seeking to curb expenses, hospitals might change what qualifies as an emergency or cap the number of uninsured patients they treat. And although it's believed states with the most illegal immigrants will face a smaller cut, they will still lose money.

The potential impacts of reform are a hot topic at MD Anderson Cancer Center in Houston. In addition to offering its own charity care, some MD Anderson oncologists volunteer at a county-funded clinic at Lyndon B. Johnson General Hospital that largely treats the uninsured.

"In a sense we've been in the worst-case scenario in Texas for a long time," said Lewis Foxhall, MD Anderson's vice president of health policy in Houston. "The large number of uninsured and the large low-income population creates a very difficult problem for us."

Community clinics are a key part of the reform plan and were supposed to take up some of the slack for hospitals. Clinics received $11 billion in new funding over five years so they could expand to help care for a swell of newly insured who might otherwise overwhelm doctors' offices. But in the first year, $600 million was cut from the centers' usual allocation, leaving many to use the money to fill gaps rather than expand.

There is concern that clinics could themselves be inundated with newly insured patients, forcing many illegal immigrants back to emergency rooms.

Limas, 44, moved to the border town of Alamo 13 years ago with her husband and three daughters. Now single, she supports the family by teaching a citizenship class in Spanish at the local community center and selling cookies and cakes she whips up in her trailer. Soon, she hopes to seek a work permit of her own.

For now, the clinic helps with basic health care needs. If necessary, Limas will return to the emergency room, where the attendants help her fill out paperwork to ensure the government covers the bills she cannot afford.

"They always attended to me," she said, "even though it's slow."

___

Sherman can be followed on Twitter at https://twitter.com/chrisshermanAP .

Plushnick-Masti can be followed on Twitter at https://twitter.com/RamitMastiAP .

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Asian shares mixed after China data, "fiscal cliff" weighs

TOKYO (Reuters) - Asian shares were mixed on Friday with a pick-up in China's manufacturing sector lending support but worries over the progress of U.S. budget talks to avert the "fiscal cliff" weighing on investor sentiment.

European shares were expected to start higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open as much as 0.3 percent higher. A 0.3 percent gain in U.S. stock futures hinted at a firm Wall Street open. <.l><.eu><.n/>

A deteriorating business sentiment survey and expectations that the Bank of Japan will ease policy further to support the weak economy next week pushed the yen to a near 9-month low against the dollar and an 8-month low against the euro, helping Japanese equities wipe out earlier losses.

China shares outperformed Asian peers after the HSBC flash purchasing managers' index for December hit a 14-month high of 50.9, the fifth straight monthly gain, showing growth in China's vast manufacturing sector picked up and underlined a brighter outlook for the economy in coming months.

The private survey followed recent positive data suggesting Chinese economic activity has gained some momentum in the fourth quarter after it slowed for seven consecutive quarters.

A state-backed think tank has also forecast China's GDP growth next year at around 8 percent -- above the likely government target -- while calling for an expansion in the central government's fiscal deficit to offset an uncertain external environment.

The Shanghai Composite Index <.ssec> soared 4 percent while Hong Kong shares <.hsi> rose 0.8 percent to a 16-month peak.

"We're seeing positive PMI, industrial data and they are all pointing to the direction of an economic recovery," said Sijin Cheng, a commodities analyst at Barclays Capital. "The underlying demand is going to improve gradually."

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was little changed, hovering near 16-month highs which it had hit successively since December 5. The index was set to end the week up 1.4 percent.

Australian shares <.axjo> ended flat, giving up earlier gains as investors remained wary of the stalled U.S. budget talks.

A seven-day rally in world shares came to a halt and commodity prices slipped on Thursday after negotiations over the U.S. "fiscal cliff" hit a wall.

President Barack Obama and House of Representatives Speaker John Boehner held a "frank" face-to-face meeting late on Thursday in an effort to break an impasse in talks to avert the "fiscal cliff" of some $600 billion of tax hikes and spending cuts scheduled to start in January.

"With the end of the year coming up, I can't see anybody taking any significant positions ahead of this political unknown (the fiscal cliff)," the trader added.

Failure to avert the "fiscal cliff" could derail the struggling U.S. economic recovery and also snuff out encouraging signs emerging from China, the world's second-largest economy after the United States.

"You're not going to get a solution that will be a 100 percent, but it may be a third or a quarter. It will be something a bit hard to reduce the deficit, but they'll get a good vote on it which will make it a good rosy story -- the U.S. is not interested in can-kickers any more," said Jonathan Barratt, chief executive of Barratt's Bulletin, a Sydney-based commodity research firm.

China PMI surveys: http://link.reuters.com/rej64t

Japan Tankan: http://link.reuters.com/qet44t

Japan economy, election: http://link.reuters.com/jyc64t

Asset returns in 2012: http://link.reuters.com/nyw85s

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

YEN SELLING ACCELERATES

In the world's third-largest economy, big Japanese manufacturers' sentiment worsened in the three months to December, a Bank of Japan's quarterly tankan survey showed on Friday, hurting an economy already seen to be in a mild recession.

The data will help reinforce market expectations for the Japanese central bank to further ease monetary policy.

The yen fell as low as 83.95 against the dollar. The euro stood at 109.83 yen, its highest in more than eight months and looked set to end the week up over 3 percent on the yen.

Japan's Nikkei share average <.n225> turned up 0.1 percent, rebounding from earlier declines. <.t/>

Japan's conservative Liberal Democratic Party (LDP) is on track for a stunning victory in Sunday's election, gaining momentum to pressure the BOJ for more forceful easing.

"The market is growing confident the next government will be one of the most aggressive about easing that you could think of," said a trader at a Japanese bank.

Oil prices rebounded from Thursday's fall after Chinese manufacturing data raised hopes for firmer demand, with U.S. crude futures rising 0.8 percent to $86.54 a barrel and Brent adding 0.4 percent to $108.39.

Spot gold steadied near $1,696 an ounce after tumbling 1 percent the previous session to push prices below $1,700 for the first time this week. Gold was set for a third weekly decline as funds liquidate positions to lock in profit for the year.

Sluggish stocks weighed on Asian credit markets, keeping the spreads on the iTraxx Asia ex-Japan investment-grade index barely changed from Thursday.

(Additional reporting by Hideyuki Sano in Tokyo, Florence Tan and Melanie Burton in Singapore; Editing by Jacqueline Wong)

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World Briefing | Africa: Mali: Interim Prime Minister Sworn In

Mali swore in an interim prime minister on Thursday, just days after soldiers behind this year’s military coup arrested his predecessor and forced his resignation. The new prime minister, Diango Cissoko, officially took office in the capital, Bamako, where he said the former prime minister, Cheick Modibo Diarra, would be available as needed during the political transition. In recent weeks though, Mr. Diarra had taken stances that sometimes conflicted with the coup leader, Capt. Amadou Haya Sanogo. Captain Sanogo has maintained his hold on Mali since the coup in March, and the political instability has raised concerns about a proposed military intervention to retake Mali’s north from radical Islamists. The African Union on Thursday welcomed Mr. Cissoko’s appointment despite the circumstances under which Mr. Diarra left office.

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U.S. drops China’s Taobao website from “notorious” list

WASHINGTON (Reuters) – The United States on Thursday dropped a website owned by China‘s largest e-commerce company, Alibaba Group, from its annual list of the world’s most “notorious markets” for sales of pirated and counterfeit goods.

Taobao Marketplace, an online shopping site similar to eBay and Amazon that brings together buyers and sellers, “has been removed from the 2012 List because it has undertaken notable efforts over the past year to work with rightholders directly or through their industry associations to clean up its site,” the U.S. Trade Representative‘s office said in the report.

The move came just before an annual high-level U.S.-China trade meeting next week in Washington.

Taobao Marketplace is China’s largest consumer-oriented e-commerce platform, with estimated market share of more than 70 percent. The website has nearly 500 million registered users, with more than 800 million product listings at any given time. Most of the users are in China, Hong Kong, Taiwan and Macao.

The U.S. Chamber of Commerce has called Taobao “one of the single largest online sources of counterfeits.”

The Chinese Commerce Ministry strongly objected to Taobao’s inclusion on the USTR’s 2011 notorious markets list. A ministry spokesman said it did not appear to be based on any “conclusive evidence or detailed analysis.

Alibaba hired former USTR General Counsel James Mendenhall to help persuade USTR to remove Taobao from its list.

The Chinese company’s bid to shed its “notorious” label won support from the Motion Picture Association of America, a former critic of Taobao, which praised its effort to reduce the availability of counterfeit goods on its website.

But U.S. software, clothing and shoe manufacturers urged USTR to keep Taobao on the list.

To stay off in the future, USTR urged “Taobao to further streamline procedures … for taking down listings of counterfeit and pirated goods and to continue its efforts to work with and achieve a satisfactory outcome with U.S. rights holders and industry associations.”

USTR said it also removed Chinese website Sogou from the notorious markets list, based on reports that it has made “notable efforts to work with rights holders to address the availability of infringing content on its site.”

U.S. concerns about widespread piracy and counterfeiting of American goods in China are expected to be high on the agenda at next week’s meeting in Washington of the U.S.-China Joint Commission on Commerce and Trade.

The 2012 notorious markets list includes Xunlei, which USTR described as a Chinese-based site that facilitates the downloading and distribution of pirated movies.

Baixe de Tudo, a website hosted in Sweden but targeted at the Brazilian market, was also put on the list along with the Chinese website Gougou.

Warez-bb, which USTR described as a hub for pre-release music, software and video games, was also included. The forum site is registered in Sweden but hosted by a Russian Internet service provider, USTR said.

The full report can be found on USTR’s website at: http://www.ustr.gov/sites/default/files/121312%20Notorious%20Markets%20List.pdf

(Reporting by Doug Palmer; Editing by Will Dunham, Dan Grebler and Jim Marshall)

Internet News Headlines – Yahoo! News

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The X Factor Reveals Season 2 Finalists

TV Watch

The X Factor

12/13/2012 at 09:10 PM EST

Carly Rose Sonenclar, Emblem3, Tate Stevens and Fifth Harmony

Ray Mickshaw/FOX (4)

Sparks will fly at the finale!

On Thursday, The X Factor revealed its top three acts, who will perform next week in the final night of competition – in hopes of taking home the $5 million recording contract.

Simon Cowell said it would take a miracle to get his girl group, Fifth Harmony, to the finale after they performed Shontelle's "Impossible" and Ellie Goulding's "Anything Could Happen" on Wednesday. Keep reading to find out if their dream came true ...

Apparently, miracles do happen! Fifth Harmony was the first act to be sent through to the finale.

They will compete against departing judge L.A. Reid's country singer, Tate Stevens, and Britney Spears's only remaining contestant, Carly Rose Sonenclar.

That means Simon's promising boy band, Emblem3, are out of the running for the big prize.

"This is the way it goes on competitions," Simon said. "I'm gutted really for them ... But it happens."

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Study: People worldwide living longer, but sicker

LONDON (AP) — Nearly everywhere around the world, people are living longer and fewer children are dying. But increasingly, people are grappling with the diseases and disabilities of modern life, according to the most expansive global look so far at life expectancy and the biggest health threats.

The last comprehensive study was in 1990 and the top health problem then was the death of children under 5 — more than 10 million each year. Since then, campaigns to vaccinate kids against diseases like polio and measles have reduced the number of children dying to about 7 million.

Malnutrition was once the main health threat for children. Now, everywhere except Africa, they are much more likely to overeat than to starve.

With more children surviving, chronic illnesses and disabilities that strike later in life are taking a bigger toll, the research said. High blood pressure has become the leading health risk worldwide, followed by smoking and alcohol.

"The biggest contributor to the global health burden isn't premature (deaths), but chronic diseases, injuries, mental health conditions and all the bone and joint diseases," said one of the study leaders, Christopher Murray, director of the Institute of Health Metrics and Evaluation at the University of Washington.

In developed countries, such conditions now account for more than half of the health problems, fueled by an aging population. While life expectancy is climbing nearly everywhere, so too are the number of years people will live with things like vision or hearing loss and mental health issues like depression.

The research appears in seven papers published online Thursday by the journal Lancet. More than 480 researchers in 50 countries gathered data up to 2010 from surveys, censuses and past studies. They used statistical modeling to fill in the gaps for countries with little information. The series was mainly paid for by the Bill & Melinda Gates Foundation.

As in 1990, Japan topped the life expectancy list in 2010, with 79 for men and 86 for women. In the U.S. that year, life expectancy for men was 76 and for women, 81.

The research found wide variations in what's killing people around the world. Some of the most striking findings highlighted by the researchers: — Homicide is the No. 3 killer of men in Latin America; it ranks 20th worldwide. In the U.S., it is the 21st cause of death in men, and in Western Europe, 57th.

— While suicide ranks globally as the 21st leading killer, it is as high as the ninth top cause of death in women across Asia's "suicide belt," from India to China. Suicide ranks 14th in North America and 15th in Western Europe.

— In people aged 15-49, diabetes is a bigger killer in Africa than in Western Europe (8.8 deaths versus 1 death per 100,000).

— Central and Southeast Asia have the highest rates of fatal stroke in young adults at about 15 cases per 100,000 deaths. In North America, the rate is about 3 per 100,000.

Globally, heart disease and stroke remain the top killers. Reflecting an older population, lung cancer moved to the 5th cause of death globally, while other cancers including those of the liver, stomach and colon are also in the top 20. AIDS jumped from the 35th cause of death in 1990 to the sixth leading cause two decades later.

While chronic diseases are killing more people nearly everywhere, the overall trend is the opposite in Africa, where illnesses like AIDS, malaria and tuberculosis are still major threats. And experts warn again shifting too much of the focus away from those ailments.

"It's the nature of infectious disease epidemics that if you turn away from them, they will crop right back up," said Jennifer Cohn, a medical coordinator at Doctors Without Borders.

Still, she acknowledged the need to address the surge of other health problems across Africa. Cohn said the agency was considering ways to treat things like heart disease and diabetes. "The way we treat HIV could be a good model for chronic care," she said.

Others said more concrete information is needed before making any big changes to public health policies.

"We have to take this data with some grains of salt," said Sandy Cairncross, an epidemiologist at the London School of Hygiene and Tropical Medicine.

He said the information in some of the Lancet research was too thin and didn't fully consider all the relevant health risk factors.

"We're getting a better picture, but it's still incomplete," he said.

___

Online:

www.lancet.com

http://healthmetricsandevaluation.org

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Asian shares rise, yen slips after Fed's stimulus steps

TOKYO (Reuters) - Asian shares extended gains for a seventh day on Thursday, after the U.S. Federal Reserve took new stimulus steps to bolster the economy, pressuring the yen with expectations the Japanese central bank will follow suit with more easing next week.

While stocks gained, oil and gold fell from post-Fed rallies, as investors took profits ahead of the year-end, and concerns over the U.S. budget impasse also weighed on sentiment.

The upside for equities was also contained despite the Fed's fresh dose of liquidity-pumping measures, as investors were worried the United States would miss a year-end deadline to avert the "fiscal cliff," some $600 billion of tax hikes and spending cuts scheduled to start in January.

U.S. House of Representatives Speaker John Boehner said on Wednesday "serious differences" remain with President Barack Obama on the budget talks.

Failure to reach a compromise by the end of the year risks pushing the U.S. economy into recession and has stoked fears that a fragile recovery trend emerging in China and some other countries would be stifled.

Against this backdrop, European shares were expected to start narrowly mixed, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open flat to 0.2 percent higher. A 0.1 percent gain in U.S. stock futures hinted at a firm Wall Street open. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent to a 16-month peak, having hit successive 16-month highs since December 5. South Korean shares <.ks11> advanced 0.8 percent to a two-month high.

"The Fed's easing measures met the market's expectations, while the setting of clear inflation and unemployment targets exceeded hopes and will clear uncertainty on the monetary front," said Kim Yong-goo, an analyst at Samsung Securities.

The U.S. central bank committed to monthly purchases of $45 billion in Treasuries on top of the $40 billion per month in mortgage-backed bonds it started buying in September. But it also took the unprecedented step of indicating interest rates would remain near zero until unemployment falls to at least 6.5 percent.

YEN WEAKNESS CONTINUES

The dollar advanced to its loftiest in nearly nine months against the yen, touching a high of 83.635 yen. The slumping yen boosted Japan's Nikkei share average <.n225> up 1.6 percent and above 9,700 for the first time in eight months. <.t/>

Japan holds an election on Sunday, with opinion surveys showing conservative former Prime Minister Shinzo Abe's opposition Liberal Democratic Party and its smaller ally heading for a resounding victory.

Abe wants to step up aggressive monetary easing along with heavy public works spending, policy prescriptions dubbed "Abenomics" by the media, and while he threatens to curtail the Bank of Japan's independence, investors reckon the responsibility of power will prevent Abe taking excessive risks that could lead to a bond market meltdown.

"As the Fed sets direction on policy rates for the rest of central banks and equity markets, the Bank of Japan sets the currency vehicle, by stepping up asset purchases and driving down the yen once LDP Chief Abe becomes the likely PM at Sunday's elections," Ashraf Laidi, chief global strategist at City Index, said in a note to clients.

At its December 19-20 meeting, the BOJ is widely expected to further ease monetary policy to support its weak economy.

The Fed's latest move to make the jobless rate a target for its monetary policy could have a longer-term implication on the BOJ.

"While the BOJ's ultimate goal is to pull Japan out of deflation, the Fed's latest move could prompt Japanese politicians or the government to urge the BOJ to also commit itself to growth, not just price stability," said Chotaro Morita, chief fixed income strategist at Barclays.

Morita said that market consensus is for the BOJ to expand its asset-buying and lending program, currently at 91 trillion yen ($1.1 trillion), by another 5-10 trillion yen, and put off taking bolder steps until after a new cabinet is formed.

Rising U.S. Treasury bond yields also drew demand for the dollar against the yen, given the stable and low Japanese yields.

BETTER EUROPEAN NEWS

The euro was relatively more robust than the dollar and the yen, inching up 0.1 percent to $1.3082 to approach Wednesday's high of $1.3098, as some positive news emerged.

Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks, the first step in a new phase of closer integration to help underpin the single currency.

Greece's foreign lenders welcomed a bond buyback, paving the way for Athens to get long-delayed aid to avoid bankruptcy.

In Italy, another debt-straddled euro zone country, Silvio Berlusconi offered to stand back and make way for Mario Monti as Italy's next leader if the outgoing technocrat premier agreed to run as the candidate for a center-right coalition. Monti's intention to resign has raised concerns that his austerity policies may not be carried out.

Oil prices retreated from overnight gains, with U.S. crude futures down 0.2 percent to $86.57 a barrel and Brent falling 0.2 percent to $109.24.

Gold tumbled more than 1 percent on stop-loss selling after touching their highest in nearly two weeks on Wednesday. Spot gold dropped as much as 1 percent to $1,693.80.

($1 = 82.9300 Japanese yen)

(Additional reporting by Somang Yang in Seoul; Editing by Jacqueline Wong)

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High Cost Leads Canada to Study Plans to Buy F-35s

Canada said Wednesday that it would reconsider plans to buy 65 F-35 fighter jets after an independent audit found that the sophisticated stealth planes would cost substantially more than the government had promised.

The decision was an unusual step back by Stephen Harper, the prime minister, who has been a strident defender of the purchase despite widespread public criticism of the price. Two cabinet ministers said an independent panel would review a variety of options, including a version of Boeing’s Super Hornet fighter as well as sticking with the F-35, made by Lockheed Martin.

“We have hit the reset button and are taking the time to do a complete assessment of all available aircraft,” Rona Ambrose, the public works minister, told reporters in Ottawa.

The announcement came after the auditor, KPMG, estimated that Canada would spend $45.8 billion to buy and operate the planes over 42 years, the expected life span.

When Peter MacKay, the defense minister, first announced Canada’s plan to buy the F-35 in 2010, he said the purchase price was $9 billion, but declined to provide operating cost estimates. The next year during an election campaign, the Conservatives put the total cost over 20 years at $16 billion.

If Canada were to back out of the project, it would be a blow to Lockheed and the Pentagon, which is counting on foreign sales to help reduce the cost of building each of the planes.

The F-35 was conceived as the Chevrolet of the sky, a radar-evading aircraft that could be built relatively cheaply and adapted to the needs of the Air Force, Navy and Marines.

But almost from the start, development of the planes and their sophisticated gear proved far more costly and difficult than anticipated.

The plane is now projected to be the most expensive weapons program in history, with the Pentagon spending $396 billion to buy 2,443 planes by the late 2030s. The United States is counting on 10 allies to buy at least 700 more.

To meet the Pentagon’s targets of $79 million to $106 million a plane, depending on the model, Lockheed needs to increase its economies of scale by spreading the costs across as many planes as possible. Canada’s hesitancy about the project could add to worries among the allies about the plane’s cost.

This year, economically troubled Italy cut its planned F-35 order by 30 percent. Britain and Australia have delayed decisions on how many F-35s to buy. And lawmakers in the Netherlands are also questioning the jet’s cost.

The Pentagon and Lockheed have stepped up their efforts to reassure those countries and persuaded two others, Israel and Japan, to sign on.

“You have to wonder when a slip becomes a slide with this program,” said Richard L. Aboulafia, an analyst with the Teal Group in Fairfax, Va. “This is not a simple question of a fighter from a new generation all by itself in the market. There is price pressure and there’s a growing cost-consciousness among all customers.”

Until recently, the ruling Conservative Party in Canada swiftly rejected any suggestion that the country not buy the F-35s. Two years ago, Mr. Harper said that critics of the acquisition were “playing politics with the lives of our men and women in uniform.”

But after the office of the Auditor General of Canada released a report in March indicating that the planes would cost much more than the $16 billion the government had indicated, Mr. Harper’s aides began edging away from the program and hired KPMG to produce the new cost estimates.

Ms. Ambrose and Mr. MacKay repeatedly used the word “reset” on Wednesday and avoided questions about what that step would mean in evaluating alternatives. The ministers and officials, however, did make it clear that no decision had been made to start a formal competition among aircraft manufacturers and acknowledged that it remained possible that Canada would stick with the F-35.

The review, Mr. MacKay said, would “ensure that a balance is maintained between the military needs and taxpayer interests.”

Canada’s concerns about the costs of the F-35s come as American officials worry that the F-35’s huge price tag could make it a target for budget cutters in Washington as well. The Pentagon has already slowed the program to fix technical problems and reduce the immediate costs.

Pentagon and Lockheed officials sought on Wednesday to play down the developments in Canada.

Lt. Col. Melinda F. Morgan, a Pentagon spokeswoman, said the KPMG cost estimate for Canada was in line with the Pentagon’s current projections for the cost of the planes.

She said that Canada’s decision to review its options seemed similar to a high-level review the Pentagon conducted in 2010 when problems were mounting with the planes. Top Pentagon officials determined then that they had no alternative that could provide the same capability.

Lockheed issued a statement noting it had worked with Canada’s armed forces for 50 years and looked forward to continuing the relationship.

The KPMG study said that if Canada wanted to stick to the original $9 billion price, it would be able to buy only 55 planes.

Possible alternatives to the F-35 include an updated version of Boeing’s F/A-18 Hornet, called the Super Hornet, and several European models. The Royal Canadian Air Force currently flies CF-18s, a version of the Hornet. While some of Canada’s jets date back about 30 years, Mr. MacKay said Wednesday that the fleet could be kept operational for at least another decade.

In the past, Mr. MacKay and others have emphasized the need for Canada’s next generation of fighters to include the radar-evading stealth technology found on the F-35. But several military analysts in Canada have noted that the country’s air force had not been actively involved in first strikes, where stealth would be most crucial. Others have questioned using the single-engine F-35 for patrols in remote Arctic regions, a primary mission for Canada’s military.

Separately on Wednesday, the government also reduced its estimate of business that Canadian companies were likely to win from F-35 contracts to $9.8 billion from $12 billion.

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U.S. federal agency to test RIM’s BlackBerry 10

TORONTO (Reuters) – Research In Motion said a U.S. federal agency, which recently outlined plans to move away from BlackBerry in favor of Apple Inc’s iPhone, is now set to begin testing RIM‘s new BlackBerry 10 platform and devices.

The U.S. Immigration and Customs Enforcement agency (ICE), will early next year begin a pilot program on RIM’s new line of BlackBerry 10 smartphones and BlackBerry Enterprise Service 10 (BES 10), which allows corporations and government users to run the new devices on their networks, a RIM spokeswoman said late on Wednesday.

The news, which comes just as shares of the embattled company rallied to their highest close in seven months, signals that RIM’s BlackBerry 10 platform is gaining some traction ahead of its official launch next month.

RIM, a one-time pioneer in the smartphone industry, has lost market share in recent years to the iPhone and devices powered by Google Inc’s market-leading Android operating system, even among the business audience who once used BlackBerry devices exclusively.

Waterloo, Ontario-based RIM is now seeking to persuade both corporations and government users to stick with its smartphones, which have long been valued for their strong security features. It promises that its new line of devices, which will be powered by the BlackBerry 10 operating system, will be both smoother and faster than previous BlackBerry phones.

RIM is betting that these new devices – to be launched on January 30 – will revive its fortunes. But that may well depend to a large extent on the response from enterprise customers, many of whom have recently begun to flee to rival platforms.

ICE is one such example. The agency, in October, announced plans to end a long relationship with RIM, stating that its now aging line-up of BlackBerry devices could “no longer meet the mobile technology needs of the agency.

At the time, ICE outlined intentions to buy iPhones for more than 17,600 employees. It is not immediately clear whether the agency plans to revisit this plan or whether its intends to use RIM’s new BES 10 platform to manage both iPhones and BlackBerry devices. A spokeswoman for the agency was not immediately able to comment on the pilot program or the agency’s plans.

SHARES SURGE

The news comes soon after yet another rally in RIM shares on Wednesday, after Eric Jackson – a long-time bear on RIM’s stock – penned an opinion piece on his now bullish stance on the company.

Jackson, the founder of Ironfire Capital, in his piece, said parallels drawn by some analysts between RIM and its now-defunct rival Palm are flawed, as Palm never had the kind of installed subscriber base that RIM enjoys.

In his article, published on Wednesday on the TheStreet.com, Jackson contends that RIM’s new BlackBerry 10 devices have much better odds of success than Palm’s Pre device, which failed to capture a following despite positive reviews on the device and its operating system.

Jackson, who was short RIM’s stock for an extended period, argues that the positive sentiment building in RIM’s stock ahead of the launch of the make-or-break line of devices is unlikely to dissipate in a hurry, as a large portion of RIM’s 80 million subscribers are likely to upgrade to BB10 when the new devices are launched. Jackson said he now has a long position in RIM.

Shares in the company rose 5.6 percent to close at $ 13.31 on the Nasdaq – their highest close since May 1. Its Toronto-listed shares rose 5.8 percent to close at C$ 13.14.

The stock has more than doubled in price since September 24, when the shares were trading slightly above the $ 6 level in both New York and Toronto. The wave of optimism around BB10 has in recent weeks been bolstered by a number of analyst upgrades on the stock.

(Editing by Dan Grebler and Muralikumar Anantharaman)

Tech News Headlines – Yahoo! News

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Tevin Hunte Is 'So Happy' After His Voice Elimination

TV Watch

The Voice

By Jessica Herndon and Julia Haskins

12/12/2012 at 07:45 PM EST

Team Cee Lo's Trevin Hunte was eliminated on Tuesday's episode of The Voice, but the soulful singer isn't letting the end of this journey hold him back.

"I feel like the best person on the planet Earth. I am so happy and excited to be honest," Hunte told PEOPLE after the show. I feel like a weight has been lifted. Being away from family and friends and what you're used to was definitely a hard thing for me."

Hunte is looking forward to his mom's cooking and seeing his friends back home, and he won't waste a second wondering what if he'd made it further.

"I have no regrets. I am glad that I took a leap of faith and auditioned," he said. "I auditioned for American Idol and told my family I didn't have the strength to do it again. But I am definitely happy and excited that I made it this far."

And he still has a long way to go. "I'm only 18," he said. "I'm just really excited."

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Congress examines science behind HGH test for NFL

WASHINGTON (AP) — A congressional committee has opened a hearing to examine the science behind a human growth hormone test the NFL wants to start using on its players.

Nearly two full seasons have passed since the league and the players' union signed a labor deal that set the stage for HGH testing.

The NFL Players Association won't concede the validity of a test that's used by Olympic sports and Major League Baseball, and the sides haven't been able to agree on a scientist to help resolve that impasse.

Among the witnesses before the House Oversight and Government Reform Committee on Wednesday is Pro Football Hall of Fame member Dick Butkus. In his prepared statement, Butkus writes: "Now, let's get on with it. The HGH testing process is proven to be reliable."

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Asian shares hit new highs, Fed outcome pressures dollar

TOKYO (Reuters) - Asian shares rose on Wednesday buoyed by strength in global equities markets, hopes of a deal from U.S. budget talks and expectations for more stimulus from the Federal Reserve when it ends its two-day policy meeting later in the day.

Oil, copper and gold prices were also underpinned while the dollar remained broadly pressured, but the yen weakened against the dollar on expectations the Bank of Japan will take additional easing steps at its policy meeting next week.

European shares were expected to climb, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open as much as 0.4 percent higher. But a 0.1 percent drop in U.S. stock futures hinted at a soft Wall Street open. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> gained 0.5 percent to a 16-month peak. The index has hit successive 16-month highs since December 5.

Australian shares <.axjo> were up 0.2 after touching a nearly 17-month peak, as higher commodities prices lifted the resources sector.

London copper steadied at $8,103.50 a metric ton (1.1023 tons), near two-month highs, while spot gold inched up 0.1 percent to $1,710.65 an ounce. U.S. crude futures were little changed at $85.81 a barrel and Brent rose 0.2 percent to $108.25.

"No doubt about it, the liquidity from the U.S. Fed is a good driver for prices," said Henry Liu, head of commodity research at Mirae Asset Securities in Hong Kong, adding that copper is also supported by a recovery in China and the United States.

While mainland markets remained sluggish, Hong Kong shares <.hsi> rose to a 16-month high, underpinned by foreign investors' optimism on China.

In China, "it's tough to get a clear picture of what's happening on the ground but you can infer that domestic investors remain relatively pessimistic," a Hong Kong-based fund manager said.

South Korean shares <.ks11> added 0.6 percent, shrugging off news that North Korea launched the second rocket this year earlier on Wednesday.

Japan's Nikkei share average <.n225> rose 0.6 percent to end at its highest in nearly eight months, led by gains in tech shares and other exporters on the weak yen. <.t/>

The euro popped back above $1.3000, pulling away from a two-week low of $1.2876 plumbed on Friday.

The Fed is expected to announce a fresh round of bond buying as part of its efforts to support a fragile economic recovery threatened by political wrangling over the government's budget. The central bank looks certain both to extend its purchases of mortgage-backed debt and replace another expiring stimulus program with a new bout of money creation.

Against the yen, the dollar rose 0.2 percent to 82.65 yen.

Data on Wednesday showed Japan's core machinery orders rose 2.6 percent in October from the previous month, up for the first time in three months but below a 3 percent rise forecast, highlighting how uncertainty over the global outlook continued to weigh on business investment and the broader economy.

India's industrial production, in contrast, soared by 8.2 percent in October from a year earlier, government data showed on Wednesday, well above a 4.5 percent rise forecast.

Investors also closely followed developments in U.S. budget talks to avert the "fiscal cliff," some $600 billion of tax hikes and spending cuts scheduled to start in January, which economists have warned could send the U.S. economy into recession and drag down the fragile global economy.

Negotiations to avert the "fiscal cliff" ahead of a year-end deadline intensified as President Barack Obama and U.S. House of Representatives Speaker John Boehner spoke by phone on Tuesday after exchanging new proposals, in a possible sign of progress ahead of the end-of-year deadline [ID:nL1E8NB6UF]

A group of high-profile chief executives urged President Barack Obama and Republican congressional leaders on Tuesday to strike a deal, reflecting mounting urgency to resolve the issue with time running out.

"Definitely the momentum is to the upside," said Stan Shamu, a market analyst at IG Markets. "Everyone seems to be pricing in a fairly positive outcome to the fiscal cliff negotiations as well."

(Additional reporting by Maggie Lu Yueyang in Canberra and Vikram Subhedar in Hong Kong and Melanie Burton in Singapore; Editing by Jacqueline Wong)

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Proper jailbreak for iOS 6 reportedly coming December 22nd

The speed at which a jailbreak for a new iOS device is released has slowed down considerably over the last few years. A tethered jailbreak  for devices running iOS 6 has been out September, but most people have been holding out for the untethered version – a hack that doesn’t erase everything upon reboot. A new jailbreak developer called “Dream JB” claims he will release a proper untethered jailbreak for devices running iOS 6 or 6.0.1 including the iPhone 5, iPad mini and iPad 4 on December 22nd. Dream JB also promises to release a video on Wednesday as proof. According to his website’s FAQ page, the jailbreak will be a one-click process and will differ from previous jailbreak methods in the past by using a prepared “Webkit exploit” and “userland exploit.” After it’s all done, Cydia, the App Store’s alternative for jailbroken smartphones, can be installed on the device. Unfortunately, the jailbreak won’t support Apple TV boxes.

Get more from BGR.com: Follow us on Twitter, Facebook

Gadgets News Headlines – Yahoo! News

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Hugh Hefner's Engagement Ring to Crystal Harris Revealed

By Mike Fleeman

12/11/2012 at 07:00 PM EST

The wedding's back on – though it may be a good idea to save that gift receipt.

Hugh Hefner, 86, officially confirms that he is once again engaged to Crystal Harris, 26, telling his Twitter followers, "I've given Crystal Harris a ring. I love the girl."

And to prove it, Harris posted photos of the big diamond sparkler, calling it "my beautiful ring."

Neither announced a wedding date, though sources tell PEOPLE they're planning to tie the knot at the Playboy Mansion in Los Angeles on New Year's Eve.

Whether that still happens remains to be seen.

This is the plan they had in 2011 – a wedding at the mansion – except that Harris called it off just days before the nuptials were scheduled to happen in front of 300 invited guests.

Hugh Hefner and Crystal Harris

David Livingston / Getty

The onetime Playmate of the Month then ripped Hef's bedroom skills, calling him a two-second man, to which Hefner replied, "I missed a bullet" by not marrying her.

A year later, Hefner's "runaway bunny" bounded back to him.

• Reporting by JENNIFER GARCIA

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Asia shares up despite Fed uncertainty, fiscal fears

TOKYO (Reuters) - Asian shares edged up to a 16-month high on Tuesday and the euro firmed, but prices were capped as investors waited for the U.S. Federal Reserve's policy decision this week and any progress in U.S. budget talks.

European shares were likely to crawl higher too, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> will open as much as 0.3 percent higher. But a 0.2 percent drop in U.S. stock futures hinted at a soft Wall Street open. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> nudged up 0.3 percent to a 16-month high. The index has hit successive 16-month highs since December 5.

Australian shares <.axjo> gained 0.4 percent to a seven-week high, supported by higher commodities prices on bets that the Fed will adopt fresh economic stimulus measures.

"It seems the Christmas rally (in commodities prices) is about getting ahead of the FOMC meeting and staying ahead of any potential Chinese stimulus early next year," said Ben Taylor, sales trader at CMC Markets.

Hong Kong shares <.hsi> added 0.2 percent, after earlier hitting a 16-month high. Shanghai shares <.ssec> were little changed as investors turned cautious ahead of the Fed and also took profits from Monday's rally, partly in response to data showing China's banks lent more slowly than expected in November and the pace of total financing eased.

Japan's Nikkei share average <.n225> was the region's laggard, closing down 0.1 percent but staying above a key 9,500 level. Investors booked profits on signs that the market is overbought after a 10 percent rally in the past month. <.t/>

"The 9,500-level is still an important psychological line for both support and resistance purposes," said Yutaka Miura, a senior technical analyst at Mizuho Securities.

After a two-day meeting ending Wednesday, the Fed is expected to announce it will buy $45 billion per month of longer-dated Treasuries beginning in January on top of the $40 billion in mortgage-backed security purchases it announced in September. The new buying will replace the Fed's current program, Operation Twist, which expires at the end of December.

Under Operation Twist, the Fed sells shorter-dated U.S. government debt and buys longer-dated Treasuries to extend the duration of its balance sheet.

The prospects of Fed stimulus weighed on the dollar and helped to underpin the euro, which traded up 0.1 percent at $1.2956, following a Monday low of $1.2880.

The dollar steadied at 82.32 yen. The yen has also been pressured by expectations for more easing from the Bank of Japan, which meets next week.

The euro rose from Monday's lows after Italian Prime Minister Mario Monti played down market fears over his decision to resign. He said there was no danger of a vacuum ahead of an election in the spring.

"I think people at this point are not sure whether there really will be the risk of Italy not pursuing its fiscal reforms pursued under Monti. So it's hard to really price that news in yet," said Takao Hattori, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo.

FISCAL WORRIES

European partners urged the next Italian government on Monday to stick to Monti's reform agenda, after his decision to resign early and Silvio Berlusconi's return to frontline politics rattled financial markets.

Monti had earned market confidence over the past year in indebted Italy, as he spearheaded a reform agenda to rescue the euro zone's third-largest economy from the threat of a Greek-style collapse.

The prospects that Italy's reform agenda could move off track in the absence of Monti at the helm have weighed on markets. Investors also worry about the impact on neighboring Spain, which is struggling with high debt and studying the need for outside help.

Economists have warned that a failure by the U.S. Congress to avert the "fiscal cliff," some $600 billion of tax hikes and spending cuts scheduled to start in January, could send the economy into recession and weigh on the fragile global economy.

The White House and House of Representatives Speaker John Boehner's office held more negotiations on Monday on ways to break the budget stalemate. The talks picked up pace after Boehner met with President Barack Obama on Sunday, raising hopes of progress.

U.S. crude futures inched up 0.1 percent to $85.65 a barrel and Brent also rose 0.1 percent to $107.40.

(Additional reporting by Ayai Tomisawa in Tokyo and Victoria Thieberger in Melbourne; Editing by Jacqueline Wong)

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Putin Rehabilitates Labor Award Harking Back to Soviet Glory

MOSCOW — When secretaries, financial analysts and the like spilled onto the streets of Moscow in antigovernment protests last winter, Vladimir V. Putin took one look and dismissed them as a crowd of “office plankton.”

And then he set about burnishing his credentials as a champion of real, working-class Russians, a project that continued on Monday with his decision to dust off a relic of Soviet heraldry: the set of lapel pins called the Hero of Socialist Labor award, now conspicuously shortened in these capitalistic times to the Hero of Labor.

Mr. Putin, who was elected this year to his third term as president, has brought back the Soviet anthem, military parades and political repression. But until now he had not set about restoring the grandeur of the Soviet lapel pin collection for civilians — awards marked by the heads of Lenin and ribbons that once caused jackets to sag.

“Of course, I think that it would be good for us to revive the Hero of Labor award, only we need to think — we shouldn’t make a complete copy of it from the Soviet times,” Mr. Putin told a meeting of political supporters, the Interfax news agency reported Monday. “We need to be sure it covers working people, no matter where they work, and those who work with their heads and their hands.”

Igor Kholmanskikh, a rough-hewed, working-class former tank factory foreman who started a pro-Putin movement in the Ural Mountain industrial area, first proposed reviving the award in August.

Mr. Putin is believed to be swiveling to the political left through the embrace of movements like Mr. Kholmanskikh’s. The intention is to co-opt expected discontent in industrial regions, where support is still stronger than in the urban centers, in case the price of oil, the mainstay of the Russian economy, declines in coming years.

As wages level off, medals and awards that raise status without costing hard currency might substitute as compensation, as practiced in the Soviet period, beginning principally in the 1930s, when such status symbols, rather than salaries, measured accomplishment.

By the 1980s, medal inflation had rendered such awards all but meaningless, as nearly everybody had some, and they became the objects of near universal derision — eventually sold by the hundreds in canning jars on the sidewalks of East bloc countries.

The Hero of Socialist Labor award was created in 1938. It went to coal miners, milkmaids, tractor drivers and others who applied more than the typical amount of elbow grease to their work, thus contributing to “the growth of the might and glory of the U.S.S.R.,” according to an entry about the award in the Big Soviet Encyclopedia.

The award came in the form of two pins — a ribbon and a medal with a cameo of Lenin.

A revision of the rules in 1949 clarified that workers who received the award three times would also have a bronze bust made in their likeness, along with the six pieces of chest decoration. Mr. Putin did not say whether the new award would lead to any busts for repeat winners.

Other awards went to so-called shock workers who took on difficult jobs. Mothers who had 10 children or more were called Hero Mothers.

But in the late 1980s, after the devaluation of lapel pins under Leonid Brezhnev, the government scaled back to ban multiple awards to the same person, then abolished the Hero of Socialist Labor award altogether with the Soviet Union’s demise.

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Royal phone scandal highlights new media risks

CANBERRA (Reuters) – Back in 2007, as investigations were gathering strength into the UK phone hacking scandal involving journalists working under the umbrella of the Murdoch media empire, a comedy show based around prank telephone calls made a low-key debut in Britain.

‘Fonejacker’ proved such a hit with the British public that the next year the program, in which a masked caller bamboozles hapless victims, won a coveted BAFTA award for best comedy, underscoring the attraction of the prank call amid a blurring of a ceaseless news cycle with social media and entertainment.

But just such a prank telephone call, to a London hospital where Prince William‘s pregnant wife Kate was being treated, has sparked a firestorm in traditional and social media after the apparent suicide by the nurse who put the call through.

Much of the fury has been directed at laying blame for the nurse’s death on the Australian DJs who made the prank call, or the media in general, with the most vitriolic comments appearing on the public domains of Facebook and Twitter.

The social media outrage has become a story of its own, outlasting the original news value of a prank call, and has seen advertising pulled from the program which broadcast the hoax call and the suspension of the two radio announcers.

Shares in radio station 2DayFM’s owner, Southern Cross Austero fell 5 percent on Monday as the public backlash gathered strength.

Media commentators and analysts warn the rapidly changing traditional and social media worlds may have given people greater freedom of expression, but can unleash a genie which can have destructive or negative repercussions, without responsible behavior by both mainstream and social media operators.

“It’s all changing so fast that societal norms have retreated in confusion,” said veteran newspaper columnist Jennifer Hewett in the Australian Financial Review.

“What is clear is that we will soon look back to count the mounting costs and destructive force, as well as the great benefits, of the explosion of communication in an all-media, all-in, all-the-time world,” Hewett said.

Jacintha Saldanha, 46, was found dead in staff accommodation near London’s King Edward VII hospital on Friday after putting the hoax call through to a colleague who unwittingly disclosed details of Kate’s morning sickness to 2DayFM’s presenters.

Her death, still being investigated, followed still simmering outrage in Britain over phone hacking, as well as Australian anger over the power of radio announcers to plump ratings with a diet of shock, including a 2Day announcer who sparked fury by calling a woman journalist rival a “fat slag”.

And while in Britain the popular press were quick to seize the moral high ground and point the finger “Down Under”, Australian commentators pointed blame the other way, or at confusion over the changing role of media and voracious public demand for not only information, but increasingly titillation.

Australian newspaper columnist Mike Carlton said while 2Day FM and its parent company made good money by “entertaining simple minds”, for tabloid British papers to point “Down Under” over a ‘gotcha’ news genre they created was “towering hypocrisy”.

CHANGING MEDIA ETHICS

The social media condemnation of Saldanha’s death should prompt a re-think of ethics in the era of celebrity news, said Jim Macnamara, a media analyst from Australia’s University of Technology, Sydney.

“There is a lesson in this for media organizations everywhere, and for journalists and media personalities, and that is that they need to look at community standards and better self regulate,” said Macnamara.

The tragic fallout from the radio stunt has rekindled memories of the death of William’s mother Diana in a Paris car crash in 1997 and threatens to cast a pall over the birth of his and Kate’s first child.

Public amusement at the prank started turning when British media reported the call as a major security breach of the royal family’s privacy, despite the call never reaching Kate’s room and the information revealed by a nurse was already public.

But news of Saldanha’s death is what sparked the Internet firestorm, that once unleashed could not be controlled.

Hypocritically, some of the harshest criticism was on Twitter and Facebook, where people unleashed fury on Australian and British media, after having themselves publish news of Saldanha’s error under a Twitter topic #royalprank, which was repeated more than 15,000 times.

“When the twitterverse goes into meltdown, we all react with a chain reaction any nuclear plant would be proud of. I hope, in time, the world will learn to splash cold water on itself when these stories break and cool down, before we all get dragged into the mud of our own making,” Tristan Stewart-Robertson, a Glasgow-based journalist wrote in a blog on www.firstpost.com

(Editing by Michael Perry)

Internet News Headlines – Yahoo! News

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Hayden Panettiere Splits with Scotty McKnight

12/10/2012 at 07:50 PM EST

Hayden Panettiere and Scotty McKnight

Splash News Online

Is there a tear in her beer?

Nashville star Hayden Panettiere has broken up with her boyfriend of more than a year, New York Jets wide receiver Scotty McKnight, a source confirms to PEOPLE.

But the split doesn't appear to be the stuff of a sad country song. The actress, 23, is still friends with McKnight, 24, and one source tells TMZ that their pals wouldn't be surprised if they got back together.

This is Panettiere's second go at a relationship with an athlete. Before dating McKnight she was with Ukrainian boxer Wladimir Klitschko for about two years.
– Julie Jordan

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New tests could hamper food outbreak detection

WASHINGTON (AP) — It's about to get faster and easier to diagnose food poisoning, but that progress for individual patients comes with a downside: It could hurt the nation's ability to spot and solve dangerous outbreaks.

Next-generation tests that promise to shave a few days off the time needed to tell whether E. coli, salmonella or other foodborne bacteria caused a patient's illness could reach medical laboratories as early as next year. That could allow doctors to treat sometimes deadly diseases much more quickly — an exciting development.

The problem: These new tests can't detect crucial differences between different subtypes of bacteria, as current tests can. And that fingerprint is what states and the federal government use to match sick people to a contaminated food. The older tests might be replaced by the new, more efficient ones.

"It's like a forensics lab. If somebody says a shot was fired, without the bullet you don't know where it came from," explained E. coli expert Dr. Phillip Tarr of Washington University School of Medicine in St. Louis.

The federal Centers for Disease Control and Prevention warns that losing the ability to literally take a germ's fingerprint could hamper efforts to keep food safe, and the agency is searching for solutions. According to CDC estimates, 1 in 6 Americans gets sick from foodborne illnesses each year, and 3,000 die.

"These improved tests for diagnosing patients could have the unintended consequence of reducing our ability to detect and investigate outbreaks, ultimately causing more people to become sick," said Dr. John Besser of the CDC.

That means outbreaks like the salmonella illnesses linked this fall to a variety of Trader Joe's peanut butter might not be identified that quickly — or at all.

It all comes down to what's called a bacterial culture — whether labs grow a sample of a patient's bacteria in an old-fashioned petri dish, or skip that step because the new tests don't require it.

Here's the way it works now: Someone with serious diarrhea visits the doctor, who gets a stool sample and sends it to a private testing laboratory. The lab cultures the sample, growing larger batches of any lurking bacteria to identify what's there. If disease-causing germs such as E. coli O157 or salmonella are found, they may be sent on to a public health laboratory for more sophisticated analysis to uncover their unique DNA patterns — their fingerprints.

Those fingerprints are posted to a national database, called PulseNet, that the CDC and state health officials use to look for food poisoning trends.

There are lots of garden-variety cases of salmonella every year, from runny eggs to a picnic lunch that sat out too long. But if a few people in, say, Baltimore have salmonella with the same molecular signature as some sick people in Cleveland, it's time to investigate, because scientists might be able narrow the outbreak to a particular food or company.

But culture-based testing takes time — as long as two to four days after the sample reaches the lab, which makes for a long wait if you're a sick patient.

What's in the pipeline? Tests that could detect many kinds of germs simultaneously instead of hunting one at a time — and within hours of reaching the lab — without first having to grow a culture. Those tests are expected to be approved as early as next year.

This isn't just a science debate, said Shari Shea, food safety director at the Association of Public Health Laboratories.

If you were the patient, "you'd want to know how you got sick," she said.

PulseNet has greatly improved the ability of regulators and the food industry to solve those mysteries since it was launched in the mid-1990s, helping to spot major outbreaks in ground beef, spinach, eggs and cantaloupe in recent years. Just this fall, PulseNet matched 42 different salmonella illnesses in 20 different states that were eventually traced to a variety of Trader Joe's peanut butter.

Food and Drug Administration officials who visited the plant where the peanut butter was made found salmonella contamination all over the facility, with several of the plant samples matching the fingerprint of the salmonella that made people sick. A New Mexico-based company, Sunland Inc., recalled hundreds of products that were shipped to large retailers all over the country, including Target, Safeway and other large grocery chains.

The source of those illnesses probably would have remained a mystery without the national database, since there weren't very many illnesses in any individual state.

To ensure that kind of crucial detective work isn't lost, the CDC is asking the medical community to send samples to labs to be cultured even when they perform a new, non-culture test.

But it's not clear who would pay for that extra step. Private labs only can perform the tests that a doctor orders, noted Dr. Jay M. Lieberman of Quest Diagnostics, one of the country's largest testing labs.

A few first-generation non-culture tests are already available. When private labs in Wisconsin use them, they frequently ship leftover samples to the state lab, which grows the bacteria itself. But as more private labs switch over after the next-generation rapid tests arrive, the Wisconsin State Laboratory of Hygiene will be hard-pressed to keep up with that extra work before it can do its main job — fingerprinting the bugs, said deputy director Dr. Dave Warshauer.

Stay tuned: Research is beginning to look for solutions that one day might allow rapid and in-depth looks at food poisoning causes in the same test.

"As molecular techniques evolve, you may be able to get the information you want from non-culture techniques," Lieberman said.

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Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

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Shares crawl higher as China, U.S. data brighten outlook

SINGAPORE (Reuters) - Asian shares touched a 16-month high on Monday as investors took heart from rising factory output growth in China and a falling unemployment rate in the United States that raised hopes about the outlook for the world's top two economies.

The positive mood was tempered by Chinese trade data that saw both exports and imports come in below forecasts, but equities and commodities such as copper and oil remained in the black. European shares were seen opening flat-to-higher.

"At this point, bad data is not as much of a surprise for the market as good data is," said Christian Keilland, head of trading at BTIG in Hong Kong.

The euro was under pressure, having been knocked by the prospect of a recession in Germany and political uncertainty in Italy after Prime Minister Mario Monti, an investors' favorite, said at the weekend he intended to resign early.

MSCI's broadest index of Asia Pacific shares outside Japan <.miapj0000pus> inched up 0.2 percent and Tokyo's Nikkei share average <.n225> firmed 0.1 percent.

Financial spreadbetters called London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> to open up about 0.1 percent. <.t><.l><.axjo/>

The MSCI index rose more than 1 percent last week, its third successive weekly gain, taking it to levels not seen since early August 2011. There was a further boost for regional markets on Sunday when China reported a November pick-up in factory output and retail-sales growth to eight-month highs.

However, data released by China on Monday showed exports rose in November at a much weaker pace than expected, while imports were flat.

"The export slowdown shows external demand faces uncertainty due to concerns over the fiscal cliff in the US," said Zhang Zhiwei, chief China economist at Nomura in Hong Kong. "Nonetheless it does not change our view that growth is on track for a strong recovery in Q4, as (growth) is mostly domestically driven."

On Wall Street, the Dow <.dji> and S&P 500 <.spx> had risen modestly on Friday after an unexpected fall in the U.S. jobless rate. S&P 500 futures were flat on Monday. <.n/>

MARKETS WATCH ITALY

In Europe, investors will be hoping the weakness in external demand evident in the Chinese export number is not a pointer for German trade data due later on Monday.

The euro slid in early trading towards a two-week low of $1.2876 plumbed on Friday, before popping back above $1.29. Investors had sold the euro after Germany's central bank on Friday warned that the euro zone's biggest economy could soon enter recession.

Italian Prime Minister Monti's surprise announcement at the weekend came a few days after former Prime Minister Silvio Berlusconi abruptly withdrew support for Monti's technocrat government, formed over a year ago in an effort to restore Italy's credibility with investors.

"If Monti's pro-euro stance is to back off, that should raise concerns about the euro," said Junya Tanase, chief currency strategist at JPMorgan Chase in Tokyo.

Italian bond yields will be closely watched on Monday. The 10-year yield, the main barometer of investor confidence, stood at 4.5 percent at the end of last week, 323 basis points higher than the yield on the lower risk German equivalent but well below the 7.3 percent peak hit last year, when the spread over German Bunds hit 550 points.

The U.S. dollar rose about 0.3 percent against a basket of major currencies <.dxy>.

Commodity markets were also generally firmer, with copper, which draws strength from expectations of Chinese industrial demand, rising 0.9 percent to around $8,105 a metric ton (1.1023 tons) and oil rising around 0.5 percent.

Brent crude traded around $107.60 a barrel and U.S. crude fetched about $86.40.

"Investors are slightly more optimistic about China's economic recovery than before and that is supportive for oil," said Ken Hasegawa, a commodity sales manager at Newedge Japan.

The easy outlook for monetary policy continued to support gold, with the U.S. Federal Reserve expected to signal this week it will continue to pump money into the economy in 2013. Also, there was talk of a possible rate cut next year by the European Central Bank.

Spot gold firmed 0.2 percent to around $1,707 an ounce.

(Additional reporting by Thuy Ong in Sydney and Manash Goswami in Singapore; Editing by Richard Borsuk)

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India Ink: A Conversation With: Human Rights Activist Binayak Sen

Binayak Sen, 62, is no ordinary doctor. Few doctors, after all, spend three decades working in a region threatened by what Prime Minister Manmohan Singh called the “single biggest internal security challenge ever faced” by the country. And that was before Dr. Sen was jailed on charges of “waging a war against the state,” which prompted a group of Nobel laureates to petition for his release.

Dr. Sen was released in 2009, after spending two years in jail, but still faces charges of supporting the Maoists, also referred to as Naxalites, which he denies.

The Maoists have been leading an armed movement to capture political power in 13 states in India over four decades, and claim to be fighting for the poor, dispossessed and marginalized. Dr. Sen ran mobile clinics in the interior of Chhattisgarh, one of the states most affected by the Maoist insurgency. In 2005, he led a 15-member team that published a report criticizing the Salwa Judum, which  Human Rights Watch calls “a state-supported vigilante group aimed at eliminating Naxalites.”

The Chhattisgarh state government alleged that his work, and in particular his association with the Maoist leader Narayan Sanyal,  amounted to helping wage “a war against the state.” Although that charge was dismissed, he was found  guilty of sedition and conspiracy, and sentenced to life imprisonment by a lower court in Chhattisgarh in 2010. He was granted bail by the Supreme Court in 2011 and an appeal against the conviction is pending in the Chhattisgarh High Court.

A group of 40 Nobel laureates described him as “an exceptional, courageous, and selfless colleague, dedicated to helping those in India who are least able to help themselves,” in a 2011 letter appealing for his life sentence to be overturned.

India Ink had several conversations with Dr. Sen, both over the phone and e-mail, to discuss how human rights activism grew from his work as a doctor.

Describe your journey from being a doctor in rural areas to being labeled a Maoist sympathizer.

My work in Chhattisgarh was with village communities, some of the poorest in India, and training health workers to look after their needs. Earlier, I had helped establish a hospital for mine workers in the area. As a logical outcome of my work, I was involved with human rights work, and was the general secretary of the state unit of the Peoples’ Union for Civil Liberties.

In this capacity I was instrumental in documenting and exposing deaths due to hunger and malnutrition, and to the displacement of over 600 tribal villages by the state-sponsored militia called Salwa Judum, or S.J., in southern Chhattisgarh. Last year, the S.J. was banned by the Supreme Court of India.

But it was in 2007 that I was labeled a Maoist supporter, for reasons best known to the Chhattisgarh state government. I was arrested in 2007 and charged with sedition, as well as under internal security acts, spent two years in jail during the trial, was released on bail by the Supreme Court,  convicted and sent to jail again, before again being released on bail in 2011. My appeal against the conviction is still pending in the state high court.

What was your association with the Maoist leader Narayan Sanyal?

I was approached by Narayan Sanyal’s family to help him with his legal cases and his health needs. In my capacity as a P.U.C.L. activist, I visited him in jail several times in the presence of senior jail officials, as they testified at my trial.

Could you tell us about your time in prison?

My time in prison was a time of deep despair, as I was unable to figure out the logic of the juridical action against me. At the same time it gave me an opportunity to know the stories of many fellow prisoners who were undergoing the same trauma as myself.

I came across many such instances where people had spent substantial amounts of time and were later let go. In some instances the judges have indicted the police for fabrication of evidence and illegal detention, but nothing has happened.

I did not do anything that was, to the best of my knowledge, wrong or illegal.  I didn’t expect anything like this happen to me; I had in fact worked with the government to provide essential services in these areas. After coming out of jail, I have been part of a nationwide process for the repeal of unjust and oppressive laws.

There was no physical intimidation that I faced in jail. However, I was kept in solitary confinement. Life in jail is itself a form of mental intimidation.

Do you consider yourself fortunate that you received a great deal of media attention when you were arrested?

I faced a virulent media trial in Chhattisgarh in the print and electronic media, as well as on the Internet. The ordinary journalist in Chhattisgarh relies to a large extent on government (including police) handouts. It was the contribution of dedicated national journalists who turned their spotlight on the real story.

It was only over a period of time that a campaign against the patent injustice in my case built up, and many prominent citizens at the national and international levels besides sections of national media took a positive view about me.

What is your understanding of the Maoist problem in India? Does their use of violence overshadow the issues they are fighting for?

It is surprising that so much of the public discourse is about the issue of violence. Large sections of the population in the “affected areas” are living in a state of perpetual hunger, to the point of famine, and lack appropriate and basic health care. Their access to common property resources, essential for their survival, is denied to them as a result of state action, to a point where the very survival of entire communities is called into question – but this does not become the center of the discourse.

I have clarified on many occasions that I do not condone the violence either of the agencies of the state or of those who oppose the state.

You were recently part of a conference called “Resist the Silent Emergency” in Delhi; what is the “silent emergency” in India?

The conference to which you refer was mainly devoted to documenting and chronicling widespread fabrication of cases and the use of sedition-like laws to suppress dissenting voices across the country. The silent emergency refers to the suppression of fundamental rights to freedom of thought and expression, without the declaration of an actual internal emergency as in 1975.

You have spoken about the need to establish alternative agencies and systems. What has given rise to the need?

First of all, I want to clarify that I have always engaged with the state to help it function better. I was recently part of the steering committee for health in the 12th five-year plan, and earlier part of the advisory group on structural reforms in health care for government of Chhattisgarh.

However, recent developments make it plain that the planning commission is unlikely to carry out its stated commitments to the universalization of health care. The alternative strategies that most public health workers are advocating, is the universalization of health care and for increased resource allocation in the health and nutrition sector.

Some suggest we need to involve international bodies in improving health care. Does that signal a lack of faith in the country’s own systems of checks and balances?

The distress due to chronic hunger, lack of health care and widespread displacement of the people, who constitute one sixth of mankind, cannot be constrained only by questions of national identity. These are matters of concern for the entire world community.

(This interview has been lightly edited and condensed.)

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