Asian shares slide as U.S. budget impasse creates anxiety

TOKYO (Reuters) – Asian shares slid on Friday after a Republican proposal to deal with a U.S. fiscal crunch failed to get enough support, deepening uncertainty over the U.S. can avert the “fiscal cliff” of automatic spending cuts and tax increases set to start January 1.

“Markets disliked signs of further delay in talks, with the risk that a deal may not be reached by the end of the year deadline,” said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo. “It clearly hit risk sentiment.”

The U.S. House of Representatives will adjourn until after Christmas, Republican Representative Peter Roskam said on Thursday, after House Speaker John Boehner‘s proposed tax bill designed to avert the fiscal cliff failed to pass.

U.S. stock index futures fell sharply. S&P 500 stock futures slipped 1.7 percent, while Dow Jones stock futures and Nasdaq futures both lost 1.5 percent.

European shares will likely drop also, with financial spreadbetters predicting London’s FTSE 100 <.ftse>, Paris’s CAC-40 <.fchi> and Frankfurt’s DAX <.gdaxi> will open down as much as 0.6 percent. <.l><.eu></.eu></.l></.gdaxi></.fchi></.ftse>

The worrying U.S. political news sparked selling in Asian shares, with MSCI’s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> wiping out earlier gains to tumble 0.7 percent. The index was on track to end the week down 0.6 percent, the first weekly loss in five weeks.</.miapj0000pus>

Markets broadly had been supported by optimism that U.S. lawmakers would avoid the fiscal cliff, which threatens to derail the U.S. economy and drag down global growth with it.

Boehner’s proposal was aimed at extracting concessions from the White House, which had threatened to veto it, and advance talks closer to a deal.

The Republican-led U.S. House of Representatives, which abruptly recessed on late Thursday, may return as soon as December 27 with a yet-to-be-decided new plan, said a senior party aide.

“This is a major setback for a Fiscal Deal compromise between the two parties. I would say that chances of a deal are down to maybe 40 percent from 65 percent — despite the dysfunction in Washington D.C,” said Douglas A. Kass, founder of hedge fund Seabreeze Partners Management Inc.

Risk assets were sold off, from shares, oil to currencies such as the Australian dollar and the euro. The yen firmed slightly, though it was pinned near multi-month lows versus the dollar and the euro on expectations for more aggressive Bank of Japan easing next year to drive the economy out of deflation.

“The delay in resolving the U.S. fiscal cliff problem is raising concern as the market expected some sort of positive direction out of the talks by the end of the year,” said Fujio Ando, a senior managing director at Chibagin Asset Management.

Safe-haven government bond prices rose, with U.S. 10-year Treasury yields moving away from an 8-week high hit this week, falling about 6 basis points to 1.74 percent. Benchmark 10-year Japanese government bond yields also ticked down half a basis point to 0.765 percent.

Inflows into U.S. Treasuries underpinned the U.S. dollar, which inched up 0.1 percent against a basket of major currencies <.dxy>.</.dxy>

Jim Barnes, senior fixed income manager at National Penn Investors Trust Co. in Wyomissing, Pennsylvania, saw Treasuries continuing to gain once U.S. markets open later, but expected a correction by the end of the day.

“Treasury yields will likely fall Friday morning and will begin to reverse course in the afternoon as investors become more optimistic a deal will be reached,” Barnes said.

“So far, the market has been handling setbacks in negotiation talks very well. With still a little bit of time left on the clock, this time around will be no different.”

Asset performance in 2012: http://link.reuters.com/muc46s

U.S. GDP: http://link.reuters.com/guw34t

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

Along with uncertainties surrounding the future of U.S. budget talks, a firmer dollar also weighed on dollar-based commodities.

The euro fell 0.3 percent to $ 1.3206, off an 8-1/2-month high of $ 1.33085 touched on Wednesday.

U.S. crude futures dropped more than $ 1 to $ 89.10 a barrel, but oil was still on track for its biggest weekly gain since August.

Spot gold extended losses to near a four-month low touched on Thursday, and was last down 0.1 percent to $ 1,644.90 an ounce. Gold remained on course for a 12th annual growth on rock-bottom interest rates, concerns over the euro zone financial stability and diversification into bullion by central banks.

YEN GAINS SLIGHTLY

Anxieties over the U.S. budget negotiations also took their toll on Japan’s Nikkei average <.n225>, which had been supported by a weaker yen. The Nikkei gave up all of earlier gains to close down 1 percent and below the key 10,000 mark it reclaimed for the first time since early April on Wednesday. <.t></.t></.n225>

The dollar was down 0.4 percent to 84.02 yen, moving away from a 20-month high of 84.62 yen hit on Wednesday.

The euro slumped 0.7 percent to 110.91 yen also off a 16-month high of 112.59 yen reached on Wednesday.

The yen was kept under pressure after the Bank of Japan further eased monetary policy as expected on Thursday, with investors anticipating that the central bank will be persuaded to pursue more drastic measures next year.

The incoming prime minister, Shinzo Abe, has called for bolder action by the central bank to help bring Japan out of decades-long deflation.

For all the fears of a fiscal cliff debacle to come, several data series showed the United States remained on a recovery track, helping to underpin the dollar.

(Additional reporting by Masayuki Kitano in Singapore, Jennifer Ablan in New York and Ayai Tomisawa in Tokyo; Editing by Richard Borsuk)

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State Department security chief leaves post over Benghazi

WASHINGTON (Reuters) – The U.S. State Department said on Wednesday its security chief had resigned from his post and three other officials had been relieved of their duties following a scathing official inquiry into the September 11 attack on the U.S. mission in Benghazi.

Eric Boswell has resigned effective immediately as assistant secretary of state for diplomatic security, State Department spokeswoman Victoria Nuland said in a terse statement. A second official, speaking on condition of anonymity, said Boswell had not left the department entirely and remained a career official.

Nuland said that Boswell, and the three other officials, had all been put on administrative leave “pending further action.”

An official panel that investigated the incident concluded that the Benghazi mission was completely unprepared to deal with the attack, which killed U.S. Ambassador Christopher Stevens and three other Americans.

The unclassified version of the report, which was released on Tuesday, cited “leadership and management” deficiencies, poor coordination among officials and “real confusion” in Washington and in the field over who had the authority to make decisions on policy and security concerns.

“The ARB identified the performance of four officials, three in the Bureau of the Diplomatic Security and one in the Bureau of (Near Eastern) Affairs,” Nuland said in her statement, referring to the panel known as an Accountability Review Board.

Secretary of State Hillary Clinton accepted Boswell’s decision to resign effective immediately, the spokeswoman said.

Earlier, a U.S. official who spoke on condition of anonymity said Boswell, one of his deputies, Charlene Lamb, and a third unnamed official has been asked to resign. The Associated Press first reported that three officials had resigned.

PANEL STOPS SHORT OF BLAMING CLINTON

The Benghazi incident appeared likely to tarnish Clinton’s four-year tenure as secretary of state but the report did not fault her specifically and the officials who led the review stopped short of blaming her.

“We did conclude that certain State Department bureau-level senior officials in critical positions of authority and responsibility in Washington demonstrated a lack of leadership and management ability appropriate for senior ranks,” retired Admiral Michael Mullen, one of the leaders of the inquiry, told reporters on Wednesday.

The panel’s chair, retired Ambassador Thomas Pickering, said it had determined that responsibility for security shortcomings in Benghazi belonged at levels lower than Clinton’s office.

“We fixed (responsibility) at the assistant secretary level, which is, in our view, the appropriate place to look for where the decision-making in fact takes place, where – if you like – the rubber hits the road,” Pickering said after closed-door meetings with congressional committees.

The panel’s report and the comments by its two lead authors suggested that Clinton, who accepted responsibility for the incident in a television interview about a month after the Benghazi attack, would not be held personally culpable.

Pickering and Mullen spoke to the media after briefing members of the House of Representatives Foreign Affairs Committee and Senate Foreign Relations Committee behind closed doors on classified elements of their report.

Clinton had been expected to appear at an open hearing on Benghazi on Thursday, but is recuperating after suffering a concussion, dehydration and a stomach bug last week. She will instead be represented by her two top deputies.

Clinton, who intends to step down in January, said in a letter accompanying the review that she would adopt all of its recommendations, which include stepping up security staffing and requesting more money to fortify U.S. facilities.

The National Defense Authorization Act for 2013, which is expected to go to Congress for final approval this week, includes a measure directing the Pentagon to increase the Marine Corps presence at diplomatic facilities by up to 1,000 Marines.

Some Capitol Hill Republicans who had criticized the Obama administration’s handling of the Benghazi attacks said they were impressed by the report.

“It was very thorough,” said Senator Johnny Isakson. Senator John Barrasso said: “It was very, very critical of major failures at the State Department at very high levels.” Both spoke after the closed-door briefing.

Others, however, took a harsher line and called for Clinton to testify as soon as she is able.

“The report makes clear the massive failure of the State Department at all levels, including senior leadership, to take action to protect our government employees abroad,” Representative Mike Rogers, the Republican chairman of the House Intelligence Committee, said in a statement.

Senator Bob Corker, who will be the top Republican on the Senate Foreign Relations Committee when the new Congress is seated early next year, said Clinton should testify about Benghazi before her replacement is confirmed by the Senate.

Republicans have focused much of their firepower on U.S. Ambassador to the United Nations Susan Rice, who appeared on TV talk shows after the attack and suggested it was the result of a spontaneous protest rather than a premeditated attack.

The report concluded that there was no such protest.

Rice, widely seen as President Barack Obama’s top pick to succeed Clinton, withdrew her name from consideration last week.

(Additional reporting by Tabassum Zakaria and Susan Cornwell; Editing by Christopher Wilson)

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Google to sell part of Motorola for $2.35 billion

SAN FRANCISCO (AP) — Google is selling Motorola Mobility‘s TV set-top business for $ 2.35 billion, lightening the load that the Internet search leader took on earlier this year when it completed the biggest acquisition in its history.

The cash-and-stock deal announced late Wednesday will turn over Motorola‘s set-top division to Arris Group Inc., a relatively small provider of high-speed Internet equipment that is looking to become a bigger player in the delivery of video. Investors applauded the move, driving up Arris‘ stock by nearly 17 percent.

Google‘s decision to jettison the set-top boxes comes seven months after the Mountain View, Calif., company took control of Motorola Mobility Holdings in a $ 12.4 billion purchase.

The set-top boxes were never a big allure for Google, although the company is interested in finding ways to pipe its service on to TVs so it can sell more advertising.

Google prized Motorola for its portfolio of more than 17,000 mobile patents. Those form an arsenal that it can use in a fierce battle that has broken out over intellectual property as smartphones and tablet computers have emerged as hot commodities in recent years.

Motorola also makes smartphones and tablets, a manufacturing business that Google will retain, despite lingering concerns on Wall Street about the hardware shrinking Google‘s profit margins and possibly alienating other device makers that use the company’s Android software.

Besides not being a natural fit for Google, Motorola‘s set-top box also has become a potentially expensive liability. Digital video recorder pioneer TiVo Inc. is seeking billions of dollars in damages in a lawsuit alleging that Motorola‘s boxes infringed on its patents. Those claims are scheduled to go to trial next year in federal court in Texas.

Although they declined to provide specifics, Arris Group executives told analysts in a Wednesday conference call that Google still must cover most of the bill for any damages or settlement that TiVo might win.

TiVo already has negotiated about $ 1 billion in combined settlements in other patent-infringement cases it has brought against other companies, including Dish Network Corp., AT&T Inc. and Verizon Communications.

The proposed sale of Motorola‘s set-top division calls for Google to receive $ 2.05 billion in cash and $ 300 million worth of Arris stock. If the deal wins regulatory approval, Arris Group expects to take over the division before the end of June.

Google will also pare its expenses, something likely to please investors concerned about Motorola being a drag on the company’s earnings. Arris said about 7,000 people work in Motorola‘s set-top division. Google ended September with about 53,500 employees, including 17,400 who worked on the Motorola side of its operations. More than 20,000 people worked at Motorola Mobility when Google became the owner in late May, but the payroll was slashed as part of an effort to pare the losses that have been piling up within Motorola as its once popular cellphones lost market share to Apple Inc. and Samsung Electronics.

But Motorola‘s set-top business had been making money, according to Google, though the company didn’t say how much.

In the past year ending in September, Motorola‘s set-top operations generated $ 3.4 billion in revenue. That makes it twice as big as Arris Group, whose revenue totaled $ 1.3 billion during the same period. Arris Group, which is based Suwanee, Ga., had earned $ 39 million through the nine months of last year after suffering a loss of nearly $ 13 million for all of 2011.

“This represents a great leap forward for Arris,” CEO Bob Stanzione said during Wednesday’s conference call.

Arris’ stock surged $ 2.46 to $ 17 in extended trading Wednesday while Google‘s stock dipped $ 2.61 to $ 717.50.

The other half of the old Motorola Inc., Motorola Solutions Inc., remains an independent company. Based in Schaumburg, Ill., it sells communications equipment to government and corporate customers.

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Claire Danes and Hugh Dancy welcome a baby boy

NEW YORK (AP) — Claire Danes and Hugh Dancy‘s “Homeland” just got bigger.

Danes’ rep confirms the couple welcomed a baby boy named Cyrus Michael Christopher.

People.com first reported Monday’s birth.

It’s the first child for 33-year old Danes and 37-year-old Dancy. They were married in 2009.

There’s no word yet whether the new mom will attend the Golden Globe Awards on Jan. 13. She’s nominated for Best Performance by an Actress in a Television Series for her work on Showtime’s “Homeland.”

Up next, Dancy stars in NBC’s “Hannibal,” an adaptation of Thomas Harris’ novel “Red Dragon.”

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NationalIncontinence.com Offers 3 New Incontinence Products for Winter

For individuals experiencing urinary incontinence, National Incontinence, a major retailer of bladder control products, is offering three new incontinence products to help people better manage their bladder problems during the colder season.

Ashton, MD (PRWEB) December 20, 2012

Winter is finally here, and with that, comes hot chocolate and holiday fun. However, for people experiencing urinary incontinence, the colder season can make bladder control problems worse.

“From drier skin to increased bladder irritation, the winter season can be a nightmare for those with incontinence. This is the perfect time to highlight three new products that will help with better bladder control and skin care,” said Renee Mercer, president of National Incontinence, a leading retailer of incontinence supplies.

Pressure sores become a bigger threat during the winter as the skin gets extra dry and sensitive. The Attends CairPad is a popular option for caregivers who are caring for bedridden loved ones, as these individuals are most at risk for skin breakdown. The disposable underpad features a highly absorbent material that locks in urine, keeping painful bedsores from developing. Not only does the breathable pad help prevent skin rashes, but it also protects the bed from adult bedwetting.

Diaper rashes and incontinence often come hand-in-hand, especially for elderly adults with fragile skin. The Aloe Vesta Protective Ointment is a barrier cream that moisturizes dry winter skin and forms a protective layer between the skin and damp conditions. Adult diaper creams are an essential in keeping the perineal area clean and free from skin irritations.

Along with colds and runny noses, cooler temperatures can lead to increased bladder spasms and sudden urges to urinate. The new Tena Stretch Briefs provides full protection against heavy incontinence in both a diaper and pull up underwear style. This Tena brief uses special micro-beads that help lock in liquids and reduce urine odor, so that users remain dry and comfortable. The Tena Stretch also features stretchable sides for a better fit and leakage protection.

For more information on how to manage incontinence, visit National Incontinence’s blog and Tips and Advice Center.

About NationalIncontinence.com

National Incontinence provides products throughout the United States for people of all ages with bladder control problems. They have helped more than 100,000 patients with bladder issues. Their pediatric division, the Bedwetting Store, is now the largest distributor of pediatric enuresis products in the United States. National Incontinence is proud to serve the millions of families who seek information and practical solutions to bladder control problems and want the best products at the lowest prices.

Nancy Pham
National Incontinence
1-800-998-1745
Email Information

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The $60 Billion Federal Bailout Named Sandy

In the immediate aftermath of Hurricane Sandy, federal lawmakers from both parties were quick to heap words of compassion upon the storm victims. Now those politicians are debating how much taxpayer money to put behind their rhetoric. The Federal Emergency Management Agency’s disaster relief fund barely adds up to $ 6 billion. So the Senate and the White House are each proposing to give New York, New Jersey, and Connecticut a combined $ 60.4 billion in emergency funding for disaster aid, about $ 20 billion less than what the states have requested.

The money in the Senate’s bill, being debated this week, would pay for everything from FEMA trailers to reconstruction of U.S. Coast Guard facilities. The U.S. Department of Veterans Affairs would get $ 236 million to renovate the flood-damaged Manhattan Medical Center, and another $ 1 million to fix up three national cemeteries in New York and New Jersey. There’s $ 412 million for restoring coastal ecosystems and a pot of money to help disaster victims pay for child care. People with damaged homes or businesses would be able to apply for $ 812 million in loans for rebuilding their properties. Senator Chuck Schumer (D-N.Y.) estimates that Sandy damaged or destroyed 305,000 homes and that 270,000 small businesses were shuttered in New York alone.

In some cases, the Senate wants to be a lot more generous than the Obama administration. Senate Democrats would give $ 336 million to Amtrak. Schumer says that’s how much the perennially cash-strapped railway needs to repair damage wrought by Sandy. It’s 10 times as much as the White House is requesting. For road and bridge repairs, the amount of money the Senate wants to set aside is three times the White House’s ask.

Some conservative groups are crying pork. They say the federal government risks a repeat of what happened after Hurricane Katrina, when public funds fell into the wrong hands. President Obama’s aid request is an “act of willful fiscal negligence,” reads a post on the website of Heritage Action for America. “Much of the funding goes toward superfluous programs that have no direct relation to Hurricane Sandy.” According to the group, the majority of the emergency funds being requested aren’t going to be spent until 2014.

While there’s certainly an opportunity for waste and abuse in an aid package as big as this one, it’s worth noting that not all the taxpayer money would be spent just to put things back the way they were before disaster struck—which is actually the standard under current rules for receiving FEMA funding. Democrats want to spend billions of dollars upgrading infrastructure so it can withstand a future superstorm. The Senate proposes $ 3.5 billion, an amount disaster experts say is a fraction of what it would take to hurricane-proof a large metropolitan area. The debate over these particular funds could be the most difficult for lawmakers, and its outcome the most lasting.

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Canada serial killer inquiry finds “systemic bias” by police

(Reuters) – Police made critical errors in pursuing Canadian serial killer Robert Pickton partly because of “systemic bias” against his victims, sex trade workers from a rough Vancouver neighborhood, according to the final report from a public inquiry released on Monday.

Commissioner Wally Oppal was asked by the British Columbia government to investigate, in effect, why Pickton was not caught sooner. Women disappeared from the Downtown Eastside neighborhood for more than a decade before the pig farmer’s 2002 arrest.

“The investigations of missing and murdered women were characterized by blatant police failures, and by public indifference,” Oppal said at a press conference in Vancouver that was frequently interrupted by protesters.

Pickton was convicted of six murders, but prosecutors believe he killed many more – 20 other charges were stayed after he received the maximum possible sentence.

Oppal outlined a string of police errors, from failing to take proper reports when women went missing and communicate adequately with families, to ineffective coordination across jurisdictions. He called his more than 1,200-page report, which is based on eight months of hearings, “Forsaken”.

“After reviewing the evidence of the investigations, I have come to the conclusion that there was systemic bias by the police,” he said.

Oppal recommended that the provincial government establish a compensation fund for the children of the victims and consider creating a regional police force for Vancouver, instead of the patchwork of jurisdictions currently in place.

After Oppal’s announcement, B.C. Minister of Justice Shirley Bond wiped away tears as she spoke to victims’ families.

“I want you to know that, however inadequate these words sound, we are sorry for your loss,” she said. “We will work hard to prevent these circumstances from being repeated in our province.”

She announced the appointment of a former lieutenant governor, Steven Point, to serve as the report’s “champion”, guiding implementation. Bond said the government would immediately give new funding to WISH, a drop-in center for women who work in the Downtown Eastside’s sex trade.

POLICE RESPOND

The Vancouver Police Department said in a short statement that it is committed to learning from its mistakes and will study the report.

“We know that nothing can ever truly heal the wounds of grief and loss but if we can, we want to assure the families that the Vancouver Police Department deeply regrets anything we did that may have delayed the eventual solving of these murders,” it said.

Deputy Commissioner Craig Callens, who commands the Royal Canadian Mounted Police in British Columbia, said in a statement that his force will review the report.

Oppal said many individual police officers were diligent, and he commended several by name. But he said that as a system, the authorities failed because of bias against Pickton’s victims, many of whom were poor and addicted to drugs.

“Would the reaction of the police and the public have been any different if the missing women had come from Vancouver’s (more affluent) west side? The answer is obvious,” he said.

Aboriginal women were overrepresented among the victims, and Oppal repeatedly referred to the broader “marginalization” of aboriginal people in Canada.

“There has to be community responsibility for what has taken place,” he said, highlighting poverty and the conditions on the Downtown Eastside. “The social reality is that racism and gender bias are prevalent within Canadian society, and we must do something to eradicate those.”

Victims’ families and activists were on hand for Oppal’s press conference, and he stopped speaking several times as audience members shouted criticism, chanted and played drums.

The provincial government did not offer funding to a number of community organizations that said they needed support to participate in the lengthy and complex inquiry. In protest, other groups boycotted the process.

In November, several organizations, including the B.C. Civil Liberties Association, released their own report, criticizing the inquiry for, among other things, excluding too many aboriginal women, sex trade workers and drug users.

Bond, the justice minister, said she did not regret the decision not to fund those groups, but said she saw them participating in the future. “I think going forward this is room for us to include other voices.” (Reporting by Allison Martell; Editing by Eric Beech)

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“Zero Dark Thirty” review: Like a really good “Law & Order” – with waterboarding

LOS ANGELES (TheWrap.com) – It’s always a challenge to tell a story where the audience knows the ending. The trick comes in offering a new perspective on familiar events or at least generating suspense in a way that makes us nervous that Apollo 13 might not land safely, even when history tells us otherwise.

“Argo” and “Lincoln” are two films that successfully tread these waters, and now comes “Zero Dark Thirty,” Kathryn Bigelow‘s eagerly awaited follow-up to “The Hurt Locker.”

She and screenwriter Mark Boal have consciously chosen to take a just-the-facts-ma’am approach to the manhunt and subsequent killing of Osama bin Laden, and while there’s no denying the skill with which they’ve gone about telling the tale, the results are simultaneously uninvolving and somewhat infuriating.

Uninvolving, to some extent, because the people in this movie are not so much characters as they are plot functionaries, chess pieces that move around strategically to capture their target. Jessica Chastain stars as Maya, a CIA agent who, with each passing year, grows more determined to nab the man behind the 9/11 attacks.

There’s nothing wrong with this style of storytelling — giving us some backstory about Maya’s taste in men or love of antique cars or whatever wouldn’t necessarily add anything to what Bigelow and Boal are trying to do here – but it’s a gamble that doesn’t quite pay off.

After spending its first half getting into the false leads and call-tracing and all the nitty-gritty of a manhunt, “Zero Dark Thirty” subjects its capable lead character to the requisite scene in which she snaps and barks at her bureaucrat boss (played by Kyle Chandler) that she’s so close, and not to take her off the case.

It’s a moment that feels like it might have come from any given episode of “Homeland” or any TNT show about a plucky female cop, and it capsizes a movie that, until that point, had been a fairly fascinating examination of the unglamorous sausage-making that goes into a worldwide search for a terrorist.

The somewhat infuriating facet comes early on, as we watch Maya observe seasoned interrogator Dan (Jason Clarke, giving a fascinating performance) torture terror suspects to find out what they know about September 11. The movie indirectly implies that waterboarding and electrodes to the genitals and all that other stuff that George W. Bush‘s consiglieri convinced him were kosher actually resulted in actionable intelligence, despite the reams of reportage that suggested otherwise.

I believe Bigelow and Boal’s after-the-fact denials that they intended to glorify torture in any way, but when you include material like this in a movie that takes such a coolly detached tone in telling its story, you can’t then be surprised later when some viewers interpret a filmmaker’s neutral tone as an implicit endorsement.

Still, even if the eventual raid on the bin Laden compound isn’t as exciting as the film’s first half (this is where some “Argo”-style suspense might have come in handy), there’s a lot to recommend about “Zero Dark Thirty,” which more often than not reflects Bigelow’s consummate abilities as an action filmmaker; her no-frills skills in mounting car chases, surveillance and the other tools of the CIA trade get a full workout.

The acting is also uniformly strong, although if you found the parade of famous faces popping up in “Lincoln” to be distracting, you ain’t seen nothing yet. Many recognizable performers turn up very briefly for their chance to be in the new Bigelow movie, to the occasional point of distraction. (I started counting lines from well-known actors; “Torchwood” star John Barrowman? Two.)

And even if “Zero Dark Thirty” packs something less of a punch than “The Hurt Locker,” it’s still a movie that’s going to part of the national discussion, both politically and artistically, and deservedly so. Whether you love it, hate it, or have mixed feelings, it’s not to be ignored.

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Three more polio workers shot in Pakistan; eight dead in 48 hours

PESHAWAR, Pakistan (Reuters) – Three workers in a polio eradication campaign were shot in Pakistan on Wednesday, and two of them were killed, the latest in a string of attacks that has partially halted the U.N.-backed global health campaign to stamp out the crippling disease.

Following the violence, the United Nations in Pakistan has pulled all staff involved in the immunization campaign off the streets, spokesman Michael Coleman said.

Wednesday saw at least three separate attacks. In the northwestern district of Charsadda, men on motorbikes shot dead a woman and her driver, police and health officials said.

Hours earlier, a male health worker was shot and badly wounded in the nearby provincial capital of Peshawar. He remains in a critical condition, said a doctor at the Lady Reading Hospital where he is being treated.

Four other women health workers were shot at but not hit in nearby Nowshera, said Jan Baz Afridi, deputy head of the Expanded Programme on Immunisation.

It is not clear exactly who is behind the violence but some Islamists, including Taliban militants, have long opposed the campaign, with some saying it is aimed at sterilizing Muslims.

The Taliban have repeatedly issued threats against the polio eradication campaign and health workers said they received calls telling them to stop working with the “infidels”.

But a spokesman for the Pakistani Taliban, Ihsanullah Ihsan, told Reuters his group was not involved in the violence.

On Monday and Tuesday, six female health workers were killed in attacks in the southern port city of Karachi and in Peshawar. The youngest was 17.

The shootings, five of which happened in Karachi, home to 18 million people, led provincial health authorities to suspend the polio eradication campaign in the province of Sindh.

But authorities in Khyber Paktunkhwa province, where the capital is Peshawar, said they would not accept a recommendation to suspend the campaign even as the United Nations ordered their staff to suspend work.

“You know halting the campaign at this stage would create more problems as it’s not a one-day phenomenon. If we stopped the campaign it would encourage the forces opposing the polio vaccination,” said an official in the province, Javed Marwat.

Despite this, many health workers told Reuters they would not be going to work until the security situation improved.

The Taliban have repeatedly said the campaign is a Western conspiracy to sterilize or spy on Muslims or said the vaccinations could only continue if attacks by U.S. drone aircraft stopped.

Their suspicions increased after it emerged that the CIA had used a fake vaccination campaign to try to gather information about Osama bin Laden, before he was found and killed in a northern Pakistani town last year.

On Wednesday, Pakistan Prime Minister Raja Pervez Ashraf said the campaign needed to go on.

“We cannot and would not allow polio to wreak havoc on the lives of our children,” he said in a statement.

Pakistan had 20,000 polio cases in 1994 but vigorous vaccination efforts had brought the number down to 56 in 2012, the statement said.

A global vaccination campaign has eradicated the disease from everywhere except Pakistan, Afghanistan and Nigeria.

Polio can paralyze or kill within hours of infection. It is transmitted person-to-person, meaning that as long as one child is infected, the disease can be passed to others.

(Reporting By Katharine Houreld; Editing by Michael Perry and Robert Birsel)

Health News Headlines – Yahoo! News

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After Ghana vote, investors turn to economy

JOHANNESBURG (Reuters) – A closely fought but peaceful election in Ghana this month has burnished the international image of the west African oil, gold and cocoa producer as “the Switzerland of Africa.”

But to win economic bragging rights too, Ghana’s new government will have to convince investors that it can tame a swelling fiscal deficit, stabilize a volatile currency and rebuild foreign exchange reserves that have declined this year while those of other African economies have grown.

Elected President John Dramani Mahama‘s administration will have to confront these challenges while economic growth slows – albeit to a robust 7.8 percent projected for 2013, from a blistering 14.5 percent last year.

Then there is the pressure of high expectations from ordinary Ghanaians impatient to see the benefits of oil production, which started in 2010.

Investors say they would also like more opportunities to participate in Ghana’s capital markets, but the main constraints are a bond yield curve that ends at five years and a small and illiquid stock market with just 34 listed companies.

“Ghana is one of our favorite places,” said Sven Richter, head of frontier markets at Renaissance Asset Managers. “We would have more in Ghana if there was more liquidity. We have less than one percent of our fund there and we’d quite happily have 10 percent.”

Despite a legal challenge by the opposition to Mahama’s narrow victory earlier this month, the largely incident-free election in a region known for coups and civil wars has given foreign investors comfort.

“Someone described Ghana to us as the Switzerland of Africa. I think that’s an apt description,” said Ayo Salami, chief investment officer of asset manager Duet Group’s Africa Opportunities Fund. “There seems to be a continuing commitment on the part of the government to institutional reform, to embedding democratic culture. All these are things we like.”

But the government has to show it is serious about cutting Ghana’s twin deficits – on its budget and current account – which are putting pressure on the currency, Salami said, echoing the concerns of credit rating agencies.

Continuing an election year trend, heavy public spending forced the government to revise its 2012 budget deficit target to 6.7 percent of gross domestic product (GDP), from the original 4.8 percent. Some analysts think it could end up in double digits when figures are published next year.

Fitch, which affirmed Ghana’s B+ rating in September, said the gap reflects a combination of repayment of arrears, public sector wage increases and higher energy subsidies.

OIL HOPES

Finance Minister Kwabena Duffuor said last week the country would pursue a fourth year of fiscal consolidation in 2013, expecting oil, agriculture and an infrastructure program to underpin economic growth.

Salami at Duet Group warns, however, against relying too much on oil, even if output is set to increase to 120,000 barrels per day next year, from around 90,000 bpd now.

“I know the government is hoping or waiting for oil revenues to come as the cavalry over the hill to sort this out for them,” he said. “What usually happens is that when governments get a new source of revenue they find a new way to spend it.”

Ghana’s current account deficit is likely to hit 14 percent this year, from 11 percent last year, due to infrastructure spending and demand for imports from local businesses and a growing middle class.

The deficit contributed to a near 20 percent depreciation in the local cedi currency in the first half of the year before the central bank intervened.

But its efforts to shore up the cedi have hit Ghana’s foreign exchange reserves, now at $ 5.2 billion or 2.9 months of imports, just below the traditional 3-month benchmark. Ghana also bucks a sub-Saharan African trend as Nigeria, Kenya, Mozambique and others have built up their reserves this year.

DEBT CONCERNS

While the smooth elections may have allowed investors “to cut the country a bit more slack”, the worsening fiscal picture means they will not do so for long, said Giulia Pellegrini, JP Morgan strategist for sub-Saharan Africa.

She expects the cedi to lose another 5-8 percent in the new year. “Investors will increasingly be monitoring the fiscal and current account situation,” she said.

“People are taking in the full picture rather than simply saying ‘it’s stable, it’s looking good, let’s just go for it’. They’re becoming more discerning if anything.”

The country’s rapid accumulation of debt since debt relief is also a cause for concern, Pellegrini said, with external debt currently at $ 7.8 billion, nearly double its 2008 levels.

Finance Minister Duffuor said Ghana would issue a second Eurobond next year, which should help to lower borrowing costs. Ghana’s 2017 bond is trading at a yield of 4.9 percent, much lower than the 21 percent investors demanded for a 3-year domestic bond sold in October.

Given high liquidity globally and the success of previous Eurobonds from African sovereigns, the issue should do well. But investors could make Ghana pay if it does not work on its budget. “Investors would still show quite a bit of interest but would want to be compensated for that,” Pellegrini said.

(Reporting by Tosin Sulaiman; Editing by Pascal Fletcher/Ruth Pitchford)

Economy News Headlines – Yahoo! News

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