Angry Birds beats Samsung in viral marketing as mobile interest surged in 2012






This past year has shown us how effective leading smartphone and mobile app companies have become at leveraging viral videos. In Ad Age’s top-10 viral videos list for 2012, Samsung (005930) and Rovio each hog two spots. The Angry Birds Space video racked up 109 million views and the Angry Birds Star Wars hit the 41 million view mark. Meanwhile, Samsung managed to get 79 million views for its Galaxy S III video and 42 million views for the LeBron’s Day clip. It’s notable that Rovio’s Angry Birds clips were far cheaper to produce, with no major stars or lavish video production gimmickry.


The smartphone/mobile app industry thus held four of the top-10 viral video slots in 2012 — the rest of the list is a motley crew of names ranging from Invisible Children and Red Bull to Intel and M&M. It is telling that the smartphone/mobile app cluster is the only industry or cultural phenomenon that generated more than one spot on the list. Popular interest in mobile content continues surging.






It might also be a sign of the times that Apple (AAPL) did not hit the top-10. Samsung’s ultra-aggressive promotional efforts have started bearing fruit. What was once a boring, stale copycat brand in 2008 has suddenly started gripping the imaginations of consumers in a completely new way.


But perhaps even more interesting is that a mobile app company with less than 100 million euros in sales in 2011 managed to beat the mighty Samsung marketing machine in 2012. Rovio is in the vanguard of spreading mobile gaming into demographic niches that have never been all that interested in technology or gaming.


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


Gaming News Headlines – Yahoo! News


Read More..

Tevin Hunte Is 'So Happy' After His Voice Elimination






The Voice










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."

Read More..

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."


Read More..

Wall Street ends almost flat as Bernanke warns on "cliff"

NEW YORK (Reuters) - Stocks ended nearly flat on Wednesday, giving up most of the day's gains after Fed Chairman Ben Bernanke reiterated that monetary policy won't be enough to offset damage from the "fiscal cliff."


His comments followed the Federal Reserve's announcement of a new stimulus plan, which briefly pushed the S&P 500 to a seven-week high.


The plan, the latest attempt to boost the country's struggling economy, will replace a more modest program set to expire with a fresh round of Treasury purchases that will increase its balance sheet. The program is known as "quantitative easing" or QE.


In comments after the announcement, Bernanke said he hopes that markets won't have to tank to get a fiscal cliff deal.


"Initially the addition of QE was certainly favorable. I think, though, in the press conference, what came out is that there still seems to be a level of uncertainty with regard to the exit strategy (and) the efficacy of the current policy," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


Bernanke "reiterated the fact that monetary policy has its hands tied as far as addressing the seriousness of going over the fiscal cliff," Hellwig added.


The S&P financial sector index <.gspf>, which had been up more than 1 percent after the Fed's announcement, ended up just 0.5 percent.


Wal-Mart Stores Inc's stock was the biggest drag on the Dow, falling 2.8 percent to $68.94 following the Indian government's announcement of an inquiry into the company's lobbying practices.


The Dow Jones industrial average <.dji> slipped 2.99 points, or 0.02 percent, to 13,245.45 at the close. The Standard & Poor's 500 Index <.spx> inched up just 0.64 of a point, or 0.04 percent, to 1,428.48. But the Nasdaq Composite Index <.ixic> shed 8.49 points, or 0.28 percent, to end at 3,013.81.


Though the S&P 500 ended up just slightly, it was the sixth day of gains for the index - its longest winning streak since August.


The 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. It also said it will keep its near-zero interest-rate program in place until the U.S. unemployment rate falls to 6.5 percent from its current 7.7 percent.


"The actions by the Fed were more aggressive than investors anticipated," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.


"The asset-purchasing program is probably larger and more comprehensive than some might have thought."


Negotiations over plans to avoid the fiscal cliff intensified in Washington, but U.S. House of Representatives Speaker John Boehner said on Wednesday that "serious differences" remain with President Barack Obama in their talks. If no agreement is reached, steep tax hikes and budget cuts will fall into place early next year.


Shares of Aetna , the third-largest U.S. health insurer, gained 3.2 percent to $45.91, a day after the company gave a higher forecast for profit and revenue growth in 2013.


Volume was roughly 6.58 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of 6.52 billion.


Decliners slightly outnumbered advancers on the NYSE by about 16 to 15, and on the Nasdaq, by about 3 to 2.


(Reporting by Caroline Valetkevitch; Additional reporting by Leah Schnurr Editing by Jan Paschal)



Read More..

North Korea rocket launch raises nuclear stakes


SEOUL/TOKYO (Reuters) - North Korea successfully launched a rocket on Wednesday, boosting the credentials of its new leader and stepping up the threat the isolated and impoverished state poses to opponents.


The rocket, which North Korea says put a weather satellite into orbit, has been labeled by the United States, South Korea and Japan as a test of technology that could one day deliver a nuclear warhead capable of hitting targets as far away as the continental United States.


"The satellite has entered the planned orbit," a North Korean television news reader clad in traditional Korean garb announced, after which the station played patriotic songs with the lyrics "Chosun (Korea) does what it says".


The rocket was launched just before 10 a.m. (0100 GMT), according to defense officials in South Korea and Japan, and was more successful than a rocket launched in April that flew for less than two minutes.


The North American Aerospace Defense Command (NORAD), a joint U.S.-Canadian military organization, said that the missile had "deployed an object that appeared to achieve orbit".


North Korea followed what it said was a similar successful launch in 2009 with a nuclear test that prompted the U.N. Security Council to stiffen sanctions that it originally imposed in 2006 after the North's first nuclear test.


North Korea is banned from developing nuclear and missile-related technology under U.N. resolutions, although Kim Jong-un, the youthful head of state who took power a year ago, is believed to have continued the state's "military first" programs put in place by his late father, Kim Jong-il.


North Korea hailed the launch as celebrating the prowess of all three members of the Kim family to rule since it was founded in 1948.


"At a time when great yearnings and reverence for Kim Jong-il pervade the whole country, its scientists and technicians brilliantly carried out his behests to launch a scientific and technological satellite in 2012, the year marking the 100th birth anniversary of President Kim Il Sung," its KCNA news agency said. Kim Il Sung, the current leader's grandfather, was North Korea's first leader.


The United States condemned the launch as "provocative" and a breach of U.N. rules, while Japan's U.N. envoy called for a Security Council meeting. However, diplomats say further tough sanctions are unlikely from the Security Council as China, the North's only major ally, will oppose them.


"The international community must work in a concerted fashion to send North Korea a clear message that its violations of United Nations Security Council resolutions have consequences," the White House said in a statement.


U.S. intelligence has linked North Korea with missile shipments to Iran. Newspapers in Japan and South Korea have reported that Iranian observers were in the North for the launch, something Iran has denied.


Japan's likely next prime minister, Shinzo Abe, who is leading in opinion polls ahead of an election on Sunday and who is known as a hawk on North Korea, called on the United Nations to adopt a resolution "strongly criticizing" Pyongyang.


A North Korean Foreign Ministry spokesman reiterated that the rocket was a "peaceful project".


"The attempt to see our satellite launch as a long-range missile launch for military purposes comes from hostile perception that tries to designate us a cause for security tension," KCNA cited the spokesman as saying.


"STUMBLING BLOCK"


China had expressed "deep concern" prior to the launch which was announced a day after a top politburo member, representing new Chinese leader Xi Jinping, met Kim Jong-un in Pyongyang.


On Wednesday, its tone was measured, regretting the launch but calling for restraint on any counter-measures, in line with a policy of effectively vetoing tougher sanctions.


"China believes the Security Council's response should be cautious and moderate, protect the overall peaceful and stable situation on the Korean peninsula, and avoid an escalation," Chinese Foreign Ministry spokesman Hong Lei told journalists.


Bruce Klingner, a Korea expert at the Heritage Foundation, said: "China has been the stumbling block to firmer U.N. action and we'll have to see if the new leadership is any different than its predecessors."


A senior adviser to South Korea's president said last week it was unlikely there would be action from the United Nations and Seoul would expect its allies to tighten sanctions unilaterally.


Kim Jong-un, believed to be 29 years old, took power when his father died on December 17 last year and experts believe the launch was intended to commemorate the first anniversary of his death. The April launch was timed for the centennial of the birth of Kim Il Sung.


Wednesday's success puts the North ahead of the South which has not managed to get a rocket off the ground.


"This is a considerable boost in establishing the rule of Kim Jong-un," said Cho Min, an expert at the Korea Institute of National Unification.


There have been few indications the secretive and impoverished state, where the United Nations estimates a third of people are malnourished, has made any advances in opening up economically over the past year.


North Korea remains reliant on minerals exports to China and remittances from tens of thousands of its workers overseas.


Many of its 22 million people need handouts from defectors, who have escaped to South Korea, for basic medicines.


Given the puny size of its economy - per capita income is less than $2,000 a year - one of the few ways the North can attract world attention is by emphasizing its military threat.


It wants the United States to resume aid and to recognize it diplomatically, although the April launch scuppered a planned food deal.


The North is believed to be some years away from developing a functioning nuclear warhead although it may have enough plutonium for about half a dozen nuclear bombs, according to nuclear experts.


It has also been enriching uranium, which would give it a second path to nuclear weapons as it sits on big natural uranium reserves.


"A successful launch puts North Korea closer to the capability to deploy a weaponized missile," said Denny Roy, a senior fellow at the East-West Center in Hawaii.


"But this would still require fitting a weapon to the missile and ensuring a reasonable degree of accuracy. The North Koreans probably do not yet have a nuclear weapon small enough for a missile to carry."


The North says its work is part of a civil nuclear program although it has also boasted of it being a "nuclear weapons power".


(This story has been refiled to clarify reference to NORAD in paragraph five)


(Additional reporting by Jumin Park and Yoo Choonsik in SEOUL; David Alexander, Matt Spetalnick and Paul Eckert in WASHINGTON; Linda Sieg in TOKYO, Sui-Lee Wee and michael Martina in BEIJING,; Rosmarie Francisco in MANILA; Writing by David Chance; Editing by Raju Gopalakrishnan and Robert Birsel)



Read More..

‘Dishonored’ tops a diverse year in video games






The video game universe in 2012 is a study in extremes.


At one end, you have the old guard striving to produce mass-appeal blockbusters. At the other end, you have a thriving community of independent game developers scrambling to find an audience for their idiosyncratic visions. Can’t we all just get along?






Turns out, we can. For while some industry leaders are worried (and not without cause) about “disruptive” trends — social-media games, free-to-play models, the switch from disc-based media to digital delivery — video games are blossoming creatively. This fall, during the height of the pre-holiday game release calendar, I found myself bouncing among games as diverse as the bombastic “Halo 4,” the artsy “The Unfinished Swan” and the quick-hit trivia game “SongPop.”


Some of my favorite games this year have benefited from both sides working together. The smaller studios get exposure on huge platforms like Xbox Live or the PlayStation Network. The big publishers seem more willing to invite a little quirkiness into their big-budget behemoths. Gamers win.


1. “Dishonored” (Bethesda Softworks, for the Xbox 360, PlayStation 3, PC): Arkane Studios’ revenge drama combined a witty plot, crisp gameplay and an uncommonly distinctive milieu, setting a supernaturally gifted assassin loose in a gloriously decadent, steampunk-influenced city.


2. “Mass Effect 3″ (Electronic Arts, for the Xbox 360, PlayStation 3, Wii U, PC): No 2012 game was more ambitious than BioWare’s sweeping space opera. Yes, the ending was a little bumpy, but the fearless Commander Shepard’s last journey across the cosmos provided dozens of thrilling moments.


3. “The Walking Dead” (Telltale Games, for the Xbox 360, PlayStation 3, PC, iOS): This moving adaptation of Robert Kirkman’s comics dodged the predictable zombie bloodbath in favor of a finely tuned character study of two survivors: Lee, an escaped convict, and Clementine, the 8-year-old girl he’s committed to protect.


4. “Journey” (Thatgamecompany, for the PlayStation 3): A nameless figure trudges across a desert toward a glowing light. Simple enough, but gorgeous visuals, haunting music and the need to communicate, wordlessly, with companions you meet along the way translate into something that’s almost profound.


5. “Borderlands 2″ (2K Games, for the Xbox 360, PlayStation 3, PC): Gearbox Software’s gleeful mash-up of first-person shooting, role-playing and loot-collecting conventions gets bigger and badder, but what stuck with me most were the often hilarious encounters with the damaged citizens of the godforsaken planet Pandora.


6. “XCOM: Enemy Unknown” (2K Games, for the Xbox 360, PlayStation 3, PC): A strategy classic returns, as the forces of Earth fight back against an extraterrestrial invasion. It’s a battle of wits rather than reflexes, a stimulating change of pace from the typical alien gorefest.


7. “Fez” (Polytron, for the Xbox 360): A two-dimensional dude named Gomez finds his world has suddenly burst into a third dimension in this gem from indie developer Phil Fish. As Gomez explores, the world of “Fez” continually deepens, opening up mysteries that only the most dedicated players will be able to solve.


8. “Spec Ops: The Line” (2K Games, for the Xbox 360, PlayStation 3, PC): This harrowing tale from German studio Yager Development transplants “Apocalypse Now” to a war-torn Dubai. It’s a bracing critique, not just of war but of the rah-rah jingoism of contemporary military shooters.


9. “Assassin’s Creed III” (Ubisoft, for the Xbox 360, PlayStation 3, Wii U, PC): A centuries-old conspiracy takes root in Colonial America in this beautifully realized, refreshingly irreverent installment of Ubisoft’s alternate history franchise.


10. “ZombiU” (Ubisoft, for the Wii U): The best launch game for Nintendo’s new console turns the Wii U’s GamePad into an effective tool for finding and hunting down the undead.


Runners-up: “Call of Duty: Black Ops II,” ”Darksiders II,” ”Dust: An Elysian Tail,” ”Far Cry 3,” ”Halo 4,” ”Mark of the Ninja,” ”Need for Speed: Most Wanted,” ”Paper Mario: Sticker Star,” ”Papo & Yo,” ”The Unfinished Swan.”


Gaming News Headlines – Yahoo! News


Read More..

Hugh Hefner's Engagement Ring to Crystal Harris Revealed















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's Engagement Ring to Crystal Harris Revealed| Engagements, Crystal Harris, Hugh Hefner

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

Read More..

DA investigating Texas' troubled $3B cancer agency


AUSTIN, Texas (AP) — Turmoil surrounding an unprecedented $3 billion cancer-fighting effort in Texas worsened Tuesday when its executive director offered his resignation and the state's chief public corruption prosecutor announced an investigation into the beleaguered agency.


No specific criminal allegations are driving the latest probe into the Cancer Prevention and Research Institute of Texas, said Gregg Cox, director of the Travis County district attorney's public integrity unit. But his influential office opened a case only weeks after the embattled agency disclosed that an $11 million grant to a private company bypassed review.


That award is the latest trouble in a tumultuous year for CPRIT, which controls the nation's second-largest pot of cancer research dollars. Amid the mounting problems, the agency announced Tuesday that Executive Director Bill Gimson had submitted his letter of resignation.


"Unfortunately, I have also been placed in a situation where I feel I can no longer be effective," Gimson wrote in a letter dated Monday.


Gimson said the troubles have resulted in "wasted efforts expended in low value activities" at the agency, instead of a focused fight against cancer. Gimson offered to stay on until January, and the agency's board must still approve his request to step down.


His departure would complete a remarkable house-cleaning at CPRIT in a span of just eight months. It began in May, when Dr. Alfred Gilman resigned as chief science officer in protest over a different grant that the Nobel laureate wanted approved by a panel of scientists. He warned it would be "the bomb that destroys CPRIT."


Gilman was followed by Chief Commercialization Officer Jerry Cobbs, whose resignation in November came after an internal audit showed Cobbs included an $11 million proposal in a funding slate without a required outside review of the project's merits. The lucrative grant was given to Dallas-based Peloton Therapeutics, a biomedical startup.


Gimson chalked up Peloton's award to an honest mistake and has said that, to his knowledge, no one associated with CPRIT stood to benefit financially from the company receiving the taxpayer funds. That hasn't satisfied some members of the agency's governing board, who called last week for more assurances that no one personally profited.


Cox said he has been following the agency's problems and his office received a number of concerned phone calls. His department in Austin is charged with prosecuting crimes related to government officials; his most famous cases include winning a conviction against former U.S. House Majority Leader Tom DeLay in 2010 on money laundering charges.


"We have to gather the facts and figure what, if any, crime occurred so that (the investigation) can be focused more," Cox said.


Gimson's resignation letter was dated the same day the Texas attorney general's office also announced its investigation of the agency. Cox said his department would work cooperatively with state investigators, but he made clear the probes would be separate.


Peloton's award marks the second time this year that a lucrative taxpayer-funded grant authorized by CPRIT instigated backlash and raised questions about oversight. The first involved the $20 million grant to M.D. Anderson Cancer Center in Houston that Gilman described as a thin proposal that should have first been scrutinized by an outside panel of scientific peer-reviewers, even though none was required under the agency's rules.


Dozens of the nation's top scientists agreed. They resigned en masse from the agency's peer-review panels along with Gilman. Some accused the agency of "hucksterism" and charting a politically-driven path that was putting commercial product-development above science.


The latest shake-up at CPRIT caught Gilman's successor off-guard. Dr. Margaret Kripke, who was introduced to reporters Tuesday, acknowledged that she wasn't even sure who she would be answering to now that Gimson was stepping down. She said that although she wasn't with the agency when her predecessor announced his resignation, she was aware of the concerns and allegations.


"I don't think people would resign frivolously, so there must be some substance to those concerns," Kripke said.


Kripke also acknowledged the challenge of restocking the peer-review panels after the agency's credibility was so publicly smeared by some of the country's top scientists. She said she took the job because she felt the agency's mission and potential was too important to lose.


Only the National Institutes of Health doles out more cancer research dollars than CPRIT, which has awarded more than $700 million so far.


Gov. Rick Perry told reporters in Houston on Tuesday that he wasn't previously aware of the resignation but said Gimson's decision to step down was his own.


Joining the mounting criticism of CPRIT is the woman credited with brainstorming the idea for the agency in the first place. Cathy Bonner, who served under former Texas Gov. Ann Richards, teamed with cancer survivor Lance Armstrong in selling Texas voters in 2007 on a constitutional amendment to create an unprecedented state-run effort to finance a war on disease.


Now Bonner says politics have sullied an agency that she said was built to fund research, not subsidize private companies.


"There appears to be a cover-up going on," Bonner said.


Peloton has declined comment about its award and has referred questions to CPRIT. The agency has said the company wasn't aware that its application was never scrutinized by an outside panel, as required under agency rules.


___


Follow Paul J. Weber on Twitter: www.twitter.com/pauljweber


Read More..

Big tech boosts S&P 500 to best close since election

NEW YORK (Reuters) - Stocks rose on Tuesday, led by gains in technology companies, helping the S&P 500 end at its highest level since Election Day.


A 2.2 percent gain to $541.39 in Apple's stock lifted the Nasdaq, as the largest U.S. company by market value rebounded from a week in which investors took profits before a possible tax rise next year. Prior to Tuesday's trading, Apple shares had lost 25 percent from an all-time intraday high hit in September.


Stocks pared some gains by late afternoon as more news on the "fiscal cliff" negotiations emerged. U.S. Senate Majority Leader Harry Reid said it will be difficult to reach agreement resolving the cliff tax hikes and spending cuts before Christmas.


"There's been a real explosion in anxiety over this thing. Because markets have become the way they are, you've got people just stepping back," said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.


"There's a tremendous absence of liquidity in the market," he said.


The S&P 500 had lost 5.3 percent in the seven sessions following Election Day as investors refocused on the threat posed to the economy by the fiscal cliff, a series of automatic spending cuts and tax increases. Markets have mostly recovered those losses, but volume has been thin, suggesting investors are not betting aggressively due to the uncertainty.


The Dow Jones industrial average <.dji> was up 78.56 points, or 0.60 percent, at 13,248.44. The Standard & Poor's 500 Index <.spx> was up 9.29 points, or 0.65 percent, at 1,427.84. The Nasdaq Composite Index <.ixic> was up 35.34 points, or 1.18 percent, at 3,022.30.


Volume was roughly 6.43 billion shares traded on the NYSE, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of roughly 6.5 billion.


Other major tech stocks also rose. Texas Instruments gained 4 percent to $31.01 after bumping up its profit target late Monday. That helped other chipmakers rally, with the PHLX Semiconductor index <.sox> up 1.9 percent. Microsoft rose 1.4 percent to $27.32.


The lack of demonstrable progress in the fiscal cliff negotiations has kept investors from making aggressive bets in recent weeks.


Republican House Speaker John Boehner called on President Barack Obama to propose a counter-offer on Tuesday.


Retailers like luggage maker Tumi Holding Inc and Michael Kors Holding gained on Tuesday after a positive report from Goldman Sachs Equity Research. Tumi was up 4.7 percent to $21.92 and Michael Kors gained 2.4 percent, reaching $50.92.


By contrast, discount retailers Dollar General and Family Dollar declined. Dollar General, whose shares fell 7.8 percent to $42.94, said it sees margins under pressure in 2013. [ID:nL1E8NB0QB] Family Dollar shares dropped 8.4 percent to $64.68.


SPX Corp shares fell 9.1 percent to $62.07 and the stock was the biggest percentage decliner on the New York Stock Exchange after sources said the company is in exclusive talks to buy rival Gardner Denver , in a merger that could create an industrial machinery conglomerate with a market value over $7 billion.


The U.S. Treasury is selling its remaining stake in insurer American International Group Inc . AIG's shares were up 5.7 percent at $35.26.


The Fed began a two-day policy-setting meeting on Tuesday. The central bank is expected to announce a new round of Treasury bond purchases when the meeting ends on Wednesday to replace its "Operation Twist" stimulus, which expires at the end of the year.


Advancers outnumbered decliners on the NYSE by about 2 to 1, and on the Nasdaq by nearly 9 to 4.


(Additional reporting by Gabriel Debenedetti; Editing by Kenneth Barry and Nick Zieminski)



Read More..

Egyptian army to host unity talks as crisis deepens


CAIRO (Reuters) - Egypt's army chief will host national unity talks on Wednesday, seeking to end a growing political and economic crisis in the Arab world's most populous nation.


The meeting scheduled for 1430 GMT was called in response to a wave of protests since President Mohamed Mursi awarded himself sweeping powers on November 22 to push through a new constitution shaped by his Islamist allies, which is due to go to a referendum on Saturday.


"We will not speak about politics nor about the referendum. Tomorrow we will sit together as Egyptians," armed forces chief and Defense Minister Abdel Fattah al-Sisi said at a gathering of army and police officials on Tuesday.


Mursi and the Muslim Brotherhood, which propelled him to power in a June election, were expected to attend, while the main opposition coalition said it would decide on Wednesday morning whether to participate. The opposition stayed away from an earlier reconciliation meeting called by Mursi last weekend.


The judiciary committee overseeing the vote decided late on Tuesday that the referendum would be conducted on two days instead of one, as previously planned.


"The committee had officially asked the President to issue a law approving that the referendum takes place on two stages on Saturday December 15 and Saturday December 22," Judge Mahmoud Abu Shousha, a member of the referendum judiciary committee, said. Voting for Egyptians living abroad starts on Wednesday.


"The reason for the splitting of the vote into two stages is due to a shortage of judges needed to supervise the ballot stations," another member of the committee, who asked not to be named, said.


Many judges had decided in a joint meeting on Tuesday to not supervise the vote on a constitution they say had divided the country into two groups.


Outside the presidential palace - where anti-Mursi protesters are demanding the Islamist postpone the vote on a constitution they say does not represent all Egyptians - there was skepticism tinged with some hope.


"Talks without the cancellation of the referendum - and a change to the constitution to make it a constitution for all Egyptians and not the Brotherhood - will lead to nothing and will be no more than a media show," said Ahmed Hamdy, a 35-year-old office worker.


But the fact that the army was calling such talks "is an indication to all parties that the crisis is coming to a head and that they need to end it quickly", he said.


Earlier, Finance Minister Mumtaz al-Said disclosed that a $4.8 billion International Monetary Fund loan, a cornerstone of Egypt's economic recovery hopes, would be delayed until next month because of the crisis.


The delay was intended to allow time to explain a widely criticized package of economic austerity measures to the Egyptian people, Said told Reuters.


REBUILD CONSENSUS


Prime Minister Hisham Kandil said the measures would not hurt the poor. Bread, sugar and rice would not be touched, but prices of cigarettes and cooking oil would go up and fines would be imposed for public littering. In a bid to rebuild consensus, he said there would be a public consultation about the program next week.


In Washington, the IMF said Egypt had asked for the loan to be postponed "in light of the unfolding developments on the ground". The Fund stood ready to consult with Egypt on resuming discussions on the stand-by loan, a spokeswoman said.


On the streets of Cairo, thousands of opposition supporters gathered outside the presidential palace to demand that Mursi postpone Saturday's referendum.


A bigger crowd of flag-waving Islamist Mursi backers, who want the vote to go ahead as planned on Saturday, assembled at two mosques and remained on the streets as night fell over the Egyptian capital. There were also protests in Alexandria and other cities.


The extended upheaval following the fall of Hosni Mubarak last year is causing concern in the United States, which has given Cairo billions of dollars in military and other aid since Egypt made peace with Israel in 1979.


State Department spokeswoman Victoria Nuland emphasized "deep concerns" over the situation in Egypt and repeated calls on protesters to demonstrate peacefully and on security forces to act with restraint. She declined to be drawn on whether Washington believed the referendum should be postponed.


The latest unrest has so far claimed seven lives in clashes between the Islamist Muslim Brotherhood and the opposition. But the Republican Guard has yet to use force to keep protesters away from the presidential palace, now ringed with tanks, barbed wire and concrete barricades.


(Additional reporting by Tamim Elyan and Edmund Blair in Cairo, and Andrew Quinn in Washington; Writing by Giles Elgood; Editing by Michael Roddy)



Read More..