TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.
The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.”
(Reporting by Solarina Ho)
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ROME (AP) — An airliner flying from Havana to Milan abruptly plunged some 1,000 meters (3,300 feet) when it hit unusually strong turbulence over the Atlantic on Monday, terrifying passengers and leaving some 30 people aboard with bruises and scrapes, airline officials said.
The flight continued to Milan’s Malpensa airport after the plane’s captain determined that it suffered no structural damage and two passengers who are physicians found no serious injuries, Giulio Buzzi, head of the pilots division at Neos Air, told Sky TG24 TV.
The ANSA news agency quoted bruised passenger Edoardo De Lucchi as saying meals were being served when suddenly there was “10 seconds of terror.” He recounted how plates went flying and some passengers not wearing seatbelts bounced about.
Buzzi had said that the drop measured some 3,000 meters (10,000 feet) in a cloudless sky. But Milan daily’s Corriere della Sera’s web site, quoting Neos official Davide Martini, later reported that the plane first bounced up some 500 meters (1,650 feet), then dropped some 1,000 meters (3,300 feet) to some 500 meters (1,650 feet) below the original altitude.
Europe News Headlines – Yahoo! News
ROME (AP) — An airliner flying from Havana to Milan abruptly plunged some 1,000 meters (3,300 feet) when it hit unusually strong turbulence over the Atlantic on Monday, terrifying passengers and leaving some 30 people aboard with bruises and scrapes, airline officials said.
The flight continued to Milan’s Malpensa airport after the plane’s captain determined that it suffered no structural damage and two passengers who are physicians found no serious injuries, Giulio Buzzi, head of the pilots division at Neos Air, told Sky TG24 TV.
The ANSA news agency quoted bruised passenger Edoardo De Lucchi as saying meals were being served when suddenly there was “10 seconds of terror.” He recounted how plates went flying and some passengers not wearing seatbelts bounced about.
Buzzi had said that the drop measured some 3,000 meters (10,000 feet) in a cloudless sky. But Milan daily’s Corriere della Sera’s web site, quoting Neos official Davide Martini, later reported that the plane first bounced up some 500 meters (1,650 feet), then dropped some 1,000 meters (3,300 feet) to some 500 meters (1,650 feet) below the original altitude.
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NEW YORK (Reuters) – Television legend Norman Lear and veteran actor Alan Alda received special honors at the International Emmy Awards on Monday, while programming from South America dominated the competition, with Argentina and Brazil each winning two Emmys.
Lear, best known as creator of the ground-breaking 1970s hit comedy “All in the Family,” which premiered during a time of social upheaval and tackled issues such as race and women’s rights, said “the world will, and needs to, come together through the arts” as he accepted the honor.
The producer and writer received a special 40th anniversary Founders Award from the International Academy of Television Arts & Sciences, as did Alda, star of the long-running Korean-war set comedy, M*A*S*H* about doctors on the front lines.
Alda paid tribute to “the men and women in the hospital tents,” referring to real-life medical personnel who struggle to treat war injured, who he noted usually go unmentioned at award shows.
“Glee” creator Ryan Murphy received the annual International Founders Award, which was presented by Oscar-winner Jessica Lange, a star of his current series “American Horror Story.”
Argentina won both acting categories, with honors going to actress Cristina Banegas for the dramatic series “Television x La Inclusion,” in which she plays the mother of an ailing child waging battle with health insurers; while Dario Grandinetti picked up the best actor award for his performance as a racist taxi driver in the same series.
It marked the first time both honors were won by actors from the same program.
Brazil scored wins for comedy series for “The Invisible Woman,” while “The Illusionist” was named outstanding telenovela.
In bestowing its prizes, the Emmys, which honor television produced outside the United States, extended their reach after years of domination and even sweeps by the United Kingdom, which this year won two, for best TV movie or miniseries “Black Mirror” and best documentary “Terry Pratchett: Choosing to Die.”
France, Germany and Australia each won one Emmy.
France took the best drama series prize for “Braquo season 2,” while Germany’s “Song of War” won for outstanding arts programming. The Australian franchise of the adventure competition “The Amazing Race” won the award for non-scripted, or reality, television.
The International Emmy directorate award went to Korean Broadcasting System president and CEO Dr. Kim In-Kyu.
Presenters at the ceremony, hosted by recently retired talk show host Regis Philbin, also included Victor Garber, Donnie Wahlberg, Cheyenne Jackson, Telenovela actress Edith González, German TV personalities Joko and Klaas and Indian actress Prerna Wanvari.
(Editing by Chris Michaud and Todd Eastham)
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CHICAGO (Reuters) – An influential U.S. panel has called for routine HIV screening for all Americans aged 15 to 65, a change that could help reduce some of the stigma about getting tested for the sexually transmitted infection that causes AIDS.
The draft recommendations, released on Monday by the U.S. Preventive Services Task Force, a government-backed group of doctors and scientists, also called for routine HIV testing for all pregnant women.
“The prior recommendations were for screening high-risk adults and adolescents,” said task force member Dr Douglas Owens who is a medical professor at Stanford University.
“The current recommendation is for screening everyone, regardless of their risk,” said Owens, who is also affiliated with the Veterans Affairs Palo Alto Health Care System in California.
Nearly 1.2 million people in the United States are infected with HIV, yet 20 to 25 percent of them do not know it.
“This marks a monumental shift in how HIV in the United States can be prevented, diagnosed and treated,” said Carl Schmid, deputy executive director of The AIDS Institute, an AIDS advocacy group.
The new guidelines by the task force are expected to affect the reimbursement of HIV testing, removing one of the barriers to the tests, Schmid’s group said in a statement.
Under the Affordable Care Act, insurers are required to cover preventive services that are recommended by the task force. The change brings the group more in line with the U.S. Centers for Disease Control and Prevention, which in 2006 recommended HIV testing for everyone between 13 and 64.
The recommendations, which had been expected, are based on the latest evidence showing the benefits of early HIV testing and treatment. Recent studies have shown that HIV treatment can reduce transmission of the virus to an uninfected partner by as much as 96 percent.
“Treatment has two benefits. One is to the person who has HIV, and also treatment helps prevent transmission and protects a person’s partner,” Owens said.
Dr. Jeffrey Lennox, a professor of medicine at Emory University School of Medicine and chief of infectious disease at Grady Memorial Hospital, an inner-city hospital in Atlanta, said under the current recommendations, many doctors simply fail to offer the tests.
“In our practice, we see patients every week who are newly diagnosed with HIV – people who have seen many physicians in the past 10 years and none of them had ever offered testing,” Lennox said.
Many of these patients have far advanced disease, that could have been caught earlier and successfully treated.
Owens said he hopes the change will make it easier for doctors to offer testing.
“You are offering this to adolescents and adults and everyone. The conversation you have with people is likely to be easier,” he said.
The draft recommendations are based on a study of the most recent evidence on the risks and benefits of HIV testing published in the Annals of Internal Medicine.
The guidelines will be available for a 30-day public comment period before final recommendations are released, likely sometime next year.
(Reporting by Julie Steenhuysen; Editing by Jackie Frank)
Sexual Health News Headlines – Yahoo! News
International regulators did the world a service by reporting that shadow banking remains an enormous force in the global financial system. Firms in the sector had $ 67 trillion in assets last year, the Financial Stability Board has just reported. But given the importance of the lightly monitored companies, the regulators’ prescriptions seem cautious.
Shadow banking is lending outside the conventional banking system, done by firms such as money market mutual funds, hedge funds, and securities dealers. It’s far less regulated than lending by normal banks, which take insured deposits. Many economists and financial experts say shadow banking was responsible for triggering the global financial crisis of 2008-09.
Regulating it isn’t easy, for two very different reasons. One is that shadow banking can’t be shut down entirely because it does some real good. “Non-bank financial entities can … be sources of long-term and short-term credit to businesses and households,” the Financial Stability Board wrote in a report released on Nov. 18 (PDF). The second reason is that the sector has political muscle. “We’re already seeing a contest of wills” over attempts to tighten regulation, says Erik Gerding, a law professor at the University of Colorado, Boulder who specializes in banking regulation.
The board’s five-step plan to fix shadow banking, which was released in conjunction with the report on the sector’s size, didn’t exactly stick its neck out. The board is seeking comment on the plan and plans to publish final recommendations in September 2013. Here’s a boiled-down version:
1. Keep banks from being infected by problems in shadow banking. On this point, the board mostly just endorsed existing plans from the Basel Committee on Banking Supervision, which wants banks to keep thicker buffers of capital against potential losses on loans they make to shadow banking organizations.
2. Make money market mutual funds less vulnerable to runs. In the U.S., the new Financial Stability Oversight Council is continuing to press for making the funds let per-share values float in line with the value of the underlying securities, making them less rigid and breakable. The Financial Stability Board said funds should switch to floating net asset values “where workable”—a phrase that leaves room for funds to keep things as they are.
3. Put some teeth into the rules for other shadow banking organizations. The board lays out a long-term agenda for reducing risks, other than those posed by money market mutual funds. To make sure countries can’t simply ignore regulations they don’t like, the board said tougher policies should “eventually” become a “membership commitment subject to peer reviews.”
4. Regulate securitization. When it comes to bonds backed by assets such as credit-card receivables or mortgages, the board advocated greater disclosure and said countries should “converge” on the amount of risk that a securitizer must retain to make sure it has an incentive to sell only high-quality securities. But it didn’t give numerical targets.
5. Regulate securities lending and repo lending. Most of the recommendations on the businesses of loans backed by stock or bonds are standard-issue, such as making sure that the collateral posted is adequate. On the most controversial issue—the preferential treatment of repurchase agreements and securities loans in bankruptcy court, which has contributed to their explosive growth—the board said changes “may be viable theoretical options” but concluded, “they will not be pursued for now due to practical difficulties.”
Lena Komileva, chief economist of London-based G+ Economics, an investment advisory firm, described the balancing act regulators face. “Bringing shadow banking out of the shadows recognizes the systemic importance of non-bank finance for the health of the global economy,” she wrote in an e-mail. “But regulators need to apply a surgical scalpel not an ax, so that the benefit of avoiding another Lehman, AIG (AIG), or Reserve Primary Fund does not come at the cost of the long-term efficiency and productivity of the financial system.”
Businessweek.com — Top News
SAN FRANCISCO (AP) — Intel CEO Paul Otellini dropped a bombshell on the company’s board of directors last week, telling them in private that he plans to retire from the world’s largest maker of microprocessors in May. Otellini‘s move comes at a time when Intel faces a shaky economy and a mobile gadget craze that is eating away at demand for its PC chips —and it gives the company just six months to find a new leader.
Intel‘s board expected the 62-year-old Otellini to remain chief executive until the company’s customary retirement age of 65. The company announced his impending departure on Monday.
“The decision was entirely Paul’s,” said Intel spokesman Paul Bergevin. “The board accepted his decision with regret.”
Otellini will be ending a nearly 40-year career with Intel, including an eight-year stint as CEO by the time he leaves. He joined the Santa Clara, Calif. company after graduating from the nearby University of California at Berkeley and worked his way up the ranks before succeeding Craig Barrett as CEO in May 2005.
“It’s time to move on and transfer Intel‘s helm to a new generation of leadership,” Otellini said in a statement.
In another statement, Intel Chairman Andy Bryant praised Otellini for leading the company through “challenging times and market transitions.”
Intel‘s board plans to consider candidates inside and outside the company as it searches for Otellini’s successor. Otellini will be involved in the search.
Otellini and the four other men who have been Intel‘s CEO during the company’s 45-year history have all been promoted from within. The company’s board is believed to be leaning in that direction again.
Intel identified the leading internal candidates Monday by anointing three of Otellini’s current lieutenants as executive vice presidents. They are: Renee James, head of Intel‘s software business; Brian Krzanich, chief operating officer and head of worldwide manufacturing; and Stacy Smith, chief financial officer and director of corporate strategy.
If recent history is any indication, Krzanich has the inside track to become Intel‘s CEO. Both Barrett and Otellini served as chief operating officer before becoming CEO.
Although Otellini is generally well regarded, he has faced criticism for initially underestimating the impact that smartphones and tablet computers would have on the personal computer market. It was a pivotal change that also confounded Microsoft Corp. CEO Steve Ballmer, whose software company makes the Windows operating system that runs most of the PCs relying on Intel‘s chips.
“The shift came more quickly than they expected, and when they did finally see what was happening, they were a little late to react,” said technology analyst Patrick Moorhead of Moor Insights & Strategy.
Indeed, in 2008, nearly 300 million PCs were sold and most of them were powered by Microsoft‘s Windows and Intel‘s microchips, according to Forrester Research. Some 142 million smartphones sold that year, at a time when the tablet market hadn’t really taken off. That wouldn’t happen until Apple‘s 2010 release of the iPad.
By contrast, this year, Forrester estimates 330 million PCs will be sold worldwide compared with 665 million smartphones and just over 100 million tablets. By 2016, Forrester predicts annual sales of PCs will rise only slightly to 370 million machines while more than 1.6 billion smartphones and tablets will be purchased.
The fates of Intel and Microsoft have been so tightly wound for the past 30 years that computers using a combination of their chips and software are famously known as “Wintel” machines.
Now, much of the technology industry is questioning whether Intel and Microsoft can catch up in the mobile market to ensure their products remain as essential — and profitable — in the future as they have been in the past three decades.
It’s a challenge that Ballmer, 56, is confident he can tackle. He signaled his intent to remain Microsoft‘s CEO earlier this month when he ushered out the head of the company’s Windows division because of philosophical differences over the company’s future direction. For whatever reasons, Otellini concluded it was time for new leadership at Intel — an opinion that many investors share, according to RBC Capital Markets analyst Doug Freedman.
“A shift in leadership could be welcome news to investors as Intel could be in greater position to broaden its portfolio into higher growth markets,” Freedman wrote in a Monday research note.
Intel‘s stock was unchanged at $ 20.19 shortly before the market closed Monday. The stock has fallen more than 20 percent during Otellini’s reign. Most of the decline occurred this year amid concerns about the company’s ability to adjust to mobile computing and weakening demand for its core products in countries with troubled economies, particularly in Europe and China. The company blamed the poor economy for a 14 percent drop in its earnings during its most recent quarter.
Intel‘s chips have become even more dominant in the PC computer market during Otellini’s tenure, helping to boost the company’s annual revenue from $ 39 billion in 2005 to $ 54 billion last year. Besides supplying Windows-powered PCs, Otellini also scored a coup in 2006 when he convinced Apple to start using Intel chips in Mac computers instead of IBM Corp.’s microprocessors.
But Apple‘s pioneering work in smartphones and tablet computers also muddled Intel‘s future. Both the iPhone and iPad inspired a wave of sophisticated handheld devices that are undercutting demand for desktop and laptop machines that house Intel processors.
Most tablets rely on a technology licensed from British chip designer ARM Holdings Plc. Even Microsoft has tweaked the latest version of the Windows operating system so it works on ARM chips.
Other chip makers such as Qualcomm Inc. have developed less expensive microprocessors that have eclipsed Intel in the smartphone market. Qualcomm‘s inroads in the mobile market are a key reason why its stock has soared by more than 70 percent while Otellini was running Intel.
The contrasting performances of the two companies’ stocks enabled Qualcomm to surpass Intel as the world’s most valuable chip maker. Qualcomm‘s market value now stands at about $ 106 billion versus $ 100 billion for Intel.
Even though its stock under Otellini has lagged the rest of the market, Intel‘s ongoing prosperity has enabled the company to reward shareholders in other ways. Intel has paid stock dividends totaling $ 23.5 billion under Otellini as its quarterly payments rose 8 cents per share in 2005 to 22.5 cents per share currently.
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LOS ANGELES (TheWrap.com) – He may have missed out on becoming leader of the free world when he lost the election to President Obama, but Mitt Romney is keeping busy – with the romantic vampires and werewolves of “Twilight.”
Saturday night, he was spotted with his wife Ann heading into a showing of “Twilight Saga: Breaking Dawn – Part 2″ at a cineplex in Del Mar, Calif., by TMZ. After the movie, they and two young men went to a nearby pizza place, where they reportedly spoke and posed for pictures with patrons.
The Saturday night out for the Romneys was in contrast to the recent movie-viewing by the man who beat him in the election. President Obama last week viewed Oscar hopeful “Lincoln” in a special White House screening with several of the cast members and filmmakers.
There was no word on whether Romney or his wife aligned with Team Edward or Team Jacob.
Celebrity News Headlines – Yahoo! News
WASHINGTON (AP) — There’s a new push to make testing for the AIDS virus as common as cholesterol checks.
Americans ages 15 to 64 should get an HIV test at least once — not just people considered at high risk for the virus, an independent panel that sets screening guidelines proposed Monday.
The draft guidelines from the U.S. Preventive Services Task Force are the latest recommendations that aim to make HIV screening simply a routine part of a check-up, something a doctor can order with as little fuss as a cholesterol test or a mammogram. Since 2006, the Centers for Disease Control and Prevention also has pushed for widespread, routine HIV screening.
Yet not nearly enough people have heeded that call: Of the more than 1.1 million Americans living with HIV, nearly 1 in 5 — almost 240,000 people — don’t know it. Not only is their own health at risk without treatment, they could unwittingly be spreading the virus to others.
The updated guidelines will bring this long-simmering issue before doctors and their patients again — emphasizing that public health experts agree on how important it is to test even people who don’t think they’re at risk, because they could be.
“It allows you to say, ‘This is a recommended test that we believe everybody should have. We’re not singling you out in any way,’” said task force member Dr. Douglas Owens, of Stanford University and the Veterans Affairs Palo Alto Health Care System.
And if finalized, the task force guidelines could extend the number of people eligible for an HIV screening without a copay in their doctor’s office, as part of free preventive care under the Obama administration’s health care law. Under the task force‘s previous guidelines, only people at increased risk for HIV — which includes gay and bisexual men and injecting drug users — were eligible for that no-copay screening.
There are a number of ways to get tested. If you’re having blood drawn for other exams, the doctor can merely add HIV to the list, no extra pokes or swabs needed. Today’s rapid tests can cost less than $ 20 and require just rubbing a swab over the gums, with results ready in as little as 20 minutes. Last summer, the government approved a do-it-yourself at-home version that’s selling for about $ 40.
Free testing is available through various community programs around the country, including a CDC pilot program in drugstores in 24 cities and rural sites.
Monday’s proposal also recommends:
—Testing people older and younger than 15-64 if they are at increased risk of HIV infection,
—People at very high risk for HIV infection should be tested at least annually.
—It’s not clear how often to retest people at somewhat increased risk, but perhaps every three to five years.
—Women should be tested during each pregnancy, something the task force has long recommended.
The draft guidelines are open for public comment through Dec. 17.
Most of the 50,000 new HIV infections in the U.S. every year are among gay and bisexual men, followed by heterosexual black women.
“We are not doing as well in America with HIV testing as we would like,” Dr. Jonathan Mermin, CDC’s HIV prevention chief, said Monday.
The CDC recommends at least one routine test for everyone ages 13 to 64, starting two years younger than the task force recommended. That small difference aside, CDC data suggests fewer than half of adults under 65 have been tested.
“It can sometimes be awkward to ask your doctor for an HIV test,” Mermin said — the reason making it routine during any health care encounter could help.
But even though nearly three-fourths of gay and bisexual men with undiagnosed HIV had visited some sort of health provider in the previous year, 48 percent weren’t tested for HIV, a recent CDC survey found. Emergency rooms are considered a good spot to catch the undiagnosed, after their illnesses and injuries have been treated, but Mermin said only about 2 percent of ER patients known to be at increased risk were tested while there.
Mermin calls that “a tragedy. It’s a missed opportunity.”
___
Online:
Task force recommendation: http://www.uspreventiveservicestaskforce.org
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WASHINGTON (Reuters) – Home resales rose in October and a gauge of homebuilder sentiment climbed to a six-year high in November, signs of surprising vigor in the country’s still-struggling housing market.
The National Association of Realtors said on Monday that existing home sales climbed 2.1 percent last month to a seasonally adjusted annual rate of 4.79 million units, beating forecasts by Wall Street economists.
Separately, strengthening demand for new homes drove an increase in a monthly measure of home builder sentiment, which hit a more than six-year high in November, topping even the most optimistic forecast in a Reuters poll of analysts.
Rising home prices and a faster pace of sales have shown the housing market has finally turned the corner this year. The market collapsed when a mortgage debt bubble burst in 2006, helping trigger the 2007-09 recession.
The data on Monday suggested the recovery in housing is advancing even faster than many analysts had expected.
“The housing market is continuing to improve. It’s probably improving more than most economists were projecting earlier this year,” said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts.
The reports also support the view that the broader economic recovery is becoming increasingly self-sustaining, with job creation helping drive home sales, which in turn are supporting economic growth. Home building is expected to add to economic growth this year for the first time since 2005.
U.S. stock prices rose sharply, with investors heartened by the housing data and signs that lawmakers are making progress in talks aimed at avoiding sharp tax hikes and government spending cuts next year. Yields on U.S. government debt also rose.
The housing data also suggested that superstorm Sandy, a mammoth storm that slammed into the U.S. East Coast on October 29, continues to distort economic data in the United States.
The Northeast was the only region in the country where the pace of sales fell. NAR economist Lawrence Yun said Sandy would likely leave a bigger mark in November and December, although he expected the impact would only be temporary.
The storm, which killed more than 130 people in the United States and left millions of homes and businesses without electricity, led U.S. factories to cut production in October. It also weighed on auto sales as consumers stayed away from showrooms.
Economists, however, think Sandy’s impact on the economy will be temporary. Indeed, not all of the impact is negative. Home improvement retailer Lowes reported higher-than-expected profits on Monday as its sales got a lift from people buying items like generators, flashlights and batteries ahead of Sandy.
The housing data showed that home prices continue to rebound. In October, the median price for an existing home was $ 178,600, up 11.1 percent from a year earlier.
Supporting prices, fewer people sold their homes under distressed conditions, which include foreclosures, compared to the same period in 2011. Also, the nation’s inventory of existing homes for sale fell 1.4 percent during the month to 2.14 million, the lowest level since December 2002.
The shrinking supply of distressed and foreclosed inventory helped push U.S. homebuilder sentiment up for a seventh consecutive month in November.
The National Association of Home Builders said its sentiment index rose to 46 — the highest since May 2006 — from 41 the month before. Economists polled by Reuters had predicted the index would remain unchanged.
However, the gauge remained below 50, a reminder that the housing market was still some way off full recovery. Readings below 50 mean more builders view market conditions as poor than favorable. The index has not been above 50 since April 2006.
The measure has made strong progress over the last year, helping to cement optimism in the sector.
“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” said NAHB Chairman Barry Rutenberg.
(Additional reporting by Ed Krudy and Richard Leong in New York; Editing by Andrea Ricci and Tim Ahmann)
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