SEC chair Mary Schapiro leaving post

President Barack Obama announced Monday he had picked Securities and Exchange Commissioner Elisse Walter to replace outgoing Chairman Mary Schapiro, who plans to step down in mid-December. Schapiro has helmed the agency since January 2009, winning confirmation with the economy shaken to its core by the global financial meltdown.


Walter is a former top official of the Financial Industry Regulatory Authority, Wall Street's industry-funded watchdog. She does not need Senate confirmation to her new post.


The new SEC chairman will likely find herself in the thick of a fight over financial industry regulations known as Dodd-Frank. Some Obama aides have said the president hopes to improve aspects of the law, while Republicans insist they want to roll back many of its provisions. And big banks want a say in how the new rules are implemented. 


Obama praised Schapiro for her stewardship of the SEC during a critical time.


"When Mary agreed to serve nearly four years ago, she was fully aware of the difficulties facing the SEC and our economy as a whole," Obama said in a statement. "But she accepted the challenge, and today, the SEC is stronger and our financial system is safer and better able to serve the American people—thanks in large part to Mary's hard work."


"I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency," the president said.


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Nokia unveils 2 new cellphone models, priced at $62












HELSINKI (Reuters) – Struggling Finnish cellphone maker Nokia unveiled on Monday two new cellphone models, the Asha 205 and the Asha 206, pricing both models at around $ 62, excluding subsidies and taxes.


Both models will go on sale this quarter.












Nokia unveiled a new Slam feature which allows consumers to share multimedia content like photos and videos with nearby friends almost instantly through Bluetooth connection.


(Reporting By Tarmo Virki)


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German research points way to faster flu vaccines












LONDON (Reuters) – An experimental vaccine based on a molecule related to DNA protects animals against influenza and may one day offer an ultra-rapid way to develop new shots for humans, German scientists reported on Sunday.


Assuming it also works in people, the new approach could allow commercial flu vaccines to be designed and manufactured in weeks rather than months.












Making vaccines quickly is critical in fighting flu, particularly during a pandemic when health authorities and drugmakers are in a race to keep up with mutating strains of virus.


Flu vaccines have traditionally been produced in chicken eggs, a tricky and lengthy process. More recently some firms have started using animal cell cultures, with Novartis on November 20 winning the first U.S. approval for such a product.


Both approaches, however, still involve virus cultivation, which can result in variable yields and production delays.


The new vaccine developed by Lothar Stitz of Friedrich-Loeffler-Institut and colleagues uses a quicker approach. It is made solely of messenger RNA (mRNA) – a single-stranded molecule that carries information telling cells which proteins to make.


“The only thing we need is the sequence of the relevant genes,” Stitz said. “It’s a new option and it doesn’t take long to do.”


His team vaccinated mice, ferrets and pigs with an mRNA vaccine and found that the immune response was similar or better than that found with conventional vaccines. What is more, the new vaccines showed high efficacy in very young and very old animals, which can be a problem with current flu shots.


Reporting their results in the journal Nature Biotechnology, the scientists calculated that a completed vaccine could be produced within six to eight weeks of the genetic code of a flu virus strain being published.


In contrast growing vaccines in fertilised chicken eggs can take up to six months, while using cell cultures may reduce that by up to eight to 10 weeks.


Another potential advantage of mRNA vaccines is the fact that they do not need to be refrigerated.


A human vaccine based on the research is still years away, since extensive clinical trials will be needed to test safety and efficacy, and the job of taking the work forward now rests with CureVac, a privately owned biotech company.


CureVac, backed by billionaire German investor and business software firm SAP’s co-founder Dietmar Hopp, is already developing a therapeutic mRNA vaccine for prostate cancer in human trials.


The firm also has a vaccine for lung cancer in development and is working on prophylactic vaccines against several unnamed infectious diseases in a collaboration with Sanofi.


Sanofi is a major supplier of flu vaccines, along with Novartis and GlaxoSmithKline.


(Editing by Greg Mahlich)


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Psy’s “Gangnam Style” video becomes YouTube’s most viewed












LOS ANGELES (Reuters) – South Korean rap star Psy‘s music videoGangnam Style” on Saturday became the most watched item ever posted to YouTube with more than 800 million views, edging past Canadian teen star Justin Bieber‘s 2-year-old video for his song “Baby.”


The milestone was the latest pop culture victory for Psy, 34, a portly rap singer known for his slicked-back hair and comic dance style who has become one of the most unlikely global stars of 2012.












Psy succeeded with a video that generated countless parodies and became a media sensation. He gained more fame outside his native country than the more polished singers in South Korea‘s so-called K-Pop style who have sought to win international audiences.


YouTube, in a post on its Trends blog, said “Gangnam Style” on Saturday surpassed the site’s previous record holder, Bieber’s 2010 music video “Baby,” and by mid-day “Gangnam Style” had reached 805 million views, compared to 803 million for “Baby.” Within a few hours, “Gangnam Style” had gone up to more than 809 million views.


“Gangnam Style” was first posted to YouTube in July, and by the following month it began to show huge popularity on YouTube with audiences outside of South Korea.


“It’s been a massive hit at a global level unlike anything we’ve ever seen before,” said the YouTube blog.


The blog also said the “velocity” of the video’s popularity has been unprecedented for YouTube.


In his “Gangnam Style” video the outlandishly dressed, sunglass-wearing Psy raps in Korean and dances in the style of an upper-crust person riding an invisible horse.


The song is named after the affluent Gangnam District of Seoul and it mocks the rampant consumerism of that suburb. Psy, whose real name is Park Jai-sang, is no stranger to wealth as his father is chairman of a South Korean semiconductor company.


His parents sent him to business school in the United States but he confesses that he bought musical instruments with his tuition money. He later graduated from Berklee College of Music in Boston and won fame in South Korea with his 2001 debut album.


The viral success of “Gangnam Style” on YouTube also has translated into strong record sales. In late September, the song jumped to the top of the British pop charts and it also has sold well in other countries.


Popular parodies of the “Gangnam Style” video included one featuring the University of Oregon’s duck mascot, and another done in the “Star Trek” language Klingon.


The official YouTube view count for Gangnam Style represents only the figure for the original video posted to the site, but copycat versions, parodies and videos by people commenting on the song have been posted to the site and elsewhere on the Web.


Counting all those different versions, “Gangnam Style” and its related videos have more than 2.2 billion views across the Internet, said Matt Fiorentino, spokesman for the online video tracking firm Visible Measures.


“Without the dance, I don’t think it would have been as big as it is,” Fiorentino said. “And the other thing is, Psy has a unique sense of humor which comes through in the video. He doesn’t take himself too seriously.”


(Editing by Barbara Goldberg and Bill Trott)


Music News Headlines – Yahoo! News


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Egypt’s Mursi faces judicial revolt over decree












CAIRO (Reuters) – Egyptian President Mohamed Mursi faced a rebellion from judges who accused him on Saturday of expanding his powers at their expense, deepening a crisis that has triggered violence in the street and exposed the country’s deep divisions.


The Judges’ Club, a body representing judges across Egypt, called for a strike during a meeting interrupted with chants demanding the “downfall of the regime” – the rallying cry in the uprising that toppled Hosni Mubarak last year.












Mursi’s political opponents and supporters, representing the divide between newly empowered Islamists and their critics, called for rival demonstrations on Tuesday over a decree that has triggered concern in the West.


Issued late on Thursday, it marks an effort by Mursi to consolidate his influence after he successfully sidelined Mubarak-era generals in August. The decree defends from judicial review decisions taken by Mursi until a new parliament is elected in a vote expected early next year.


It also shields the Islamist-dominated assembly writing Egypt’s new constitution from a raft of legal challenges that have threatened the body with dissolution, and offers the same protection to the Islamist-controlled upper house of parliament.


Egypt’s highest judicial authority, the Supreme Judicial Council, said the decree was an “unprecedented attack” on the independence of the judiciary. The Judges’ Club, meeting in Cairo, called on Mursi to rescind it.


That demand was echoed by prominent opposition leader Mohamed ElBaradei. “There is no room for dialogue when a dictator imposes the most oppressive, abhorrent measures and then says ‘let us split the difference’,” he said.


“I am waiting to see, I hope soon, a very strong statement of condemnation by the U.S., by Europe and by everybody who really cares about human dignity,” he said in an interview with Reuters and the Associated Press.


More than 300 people were injured on Friday as protests against the decree turned violent. There were attacks on at least three offices belonging to the Muslim Brotherhood, the movement that propelled Mursi to power.


POLARISATION


Liberal, leftist and socialist parties called a big protest for Tuesday to force Mursi to row back on a move they say has exposed the autocratic impulses of a man once jailed by Mubarak.


In a sign of the polarization in the country, the Muslim Brotherhood called its own protests that day to support the president’s decree.


Mursi also assigned himself new authority to sack the prosecutor general, who was appointed during the Mubarak era, and appoint a new one. The dismissed prosecutor general, Abdel Maguid Mahmoud, was given a hero’s welcome at the Judges’ Club.


In open defiance of Mursi, Ahmed al-Zind, head of the club, introduced Mahmoud by his old title.


The Mursi administration has defended the decree on the grounds that it aims to speed up a protracted transition from Mubarak’s rule to a new system of democratic government.


Analysts say it reflects the Brotherhood’s suspicion towards sections of a judiciary unreformed from Mubarak’s days.


“It aims to sideline Mursi’s enemies in the judiciary and ultimately to impose and head off any legal challenges to the constitution,” said Elijah Zarwan, a fellow with The European Council on Foreign Relations.


“We are in a situation now where both sides are escalating and its getting harder and harder to see how either side can gracefully climb down.”


ADVISOR TO MURSI QUITS


Following a day of violence in Cairo, Alexandria, Port Said and Suez, the smell of tear gas hung over the capital’s Tahrir Square, the epicentre of the uprising that toppled Mubarak in 2011 and the stage for more protests on Friday.


Youths clashed sporadically with police near the square, where activists camped out for a second day on Saturday, setting up makeshift barricades to keep out traffic.


Al-Masry Al-Youm, one of Egypt’s most widely read dailies, hailed Friday’s protest as “The November 23 Intifada”, invoking the Arabic word for uprising.


But the ultra-orthodox Salafi Islamist groups that have been pushing for tighter application of Islamic law in the new constitution have rallied behind Mursi’s decree.


The Nour Party, one such group, stated its support for the Mursi decree. Al-Gama’a al-Islamiya, which carried arms against the state in the 1990s, said it would save the revolution from what it described as remnants of the Mubarak regime.


Samir Morkos, a Christian assistant to Mursi, had told the president he wanted to resign, said Yasser Ali, Mursi’s spokesman. Speaking to the London-based Asharq Al-Awsat newspaper, Morkos said: “I refuse to continue in the shadow of republican decisions that obstruct the democratic transition”.


Mursi’s decree has been criticized by Western states that earlier this week were full of praise for his role in mediating an end to the eight-day war between Israel and Palestinians.


“The decisions and declarations announced on November 22 raise concerns for many Egyptians and for the international community,” State Department spokeswoman Victoria Nuland said.


The European Union urged Mursi to respect the democratic process.


(Additional reporting by Omar Fahmy, Marwa Awad, Edmund Blair and Shaimaa Fayed and Reuters TV; Editing by Jon Hemming)


World News Headlines – Yahoo! News


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Black Friday sales slip as shoppers opt for Thursday ‘doorbusters’

Security guards break up a fight between shoppers outside a Bowling Green, Ky., Target, Nov. 22, 2012. (AP)


Black Friday, the official kickoff to the holiday shopping season, saw more foot traffic than ever before, according to estimates. But it appears so-called "doorbuster" deals offered the day before dinged sales.


According to ShopperTrak, which tracks retail foot traffic, there were more than 307 million store visits on Friday, up 3.5 percent. But Black Friday shoppers spent an estimated $11.2 billion, down 1.8 percent over 2011, when consumers spent $11.4 billion.


And for once, the sluggish economy is not to blame.


"It is all Black Thursday's fault," ZeroHedge.com said.


[Slideshow: Black Friday madness]


Shopping malls were "less hectic" on Black Friday this year, Bloomberg.com reported, as retailers "have turned Black Friday, once a one-day event after Thanksgiving, into a week's worth of deals and discounts."


And Thursday's deals "attracted some of the spending that's usually meant for Friday," ShopperTrak said.


Big box stores like Wal-Mart and Target were open on Thanksgiving night, drawing crowds that were--in some cases--rowdy. (Thankfully, it was nothing like the dystopian version of shopping hell recently envisioned by "Saturday Night Live.")


Another reason for the Black Friday dip: people skipped lines and shopped online. According to IBM Benchmark, online sales rose 17 percent on Thanksgiving and 21 percent on Black Friday.



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Saudi telco regulator suspends Mobily prepaid sim sales












(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.


Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.












These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.


This measure is designed to ensure customer account details are kept up to date, the CITC said.


Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.


The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.


Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.


Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.


Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.


(Reporting by Matt Smith; Editing by Dinesh Nair)


Tech News Headlines – Yahoo! News


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Four new cases of SARS-like virus found in Saudi, Qatar












LONDON (Reuters) – A new virus from the same family as SARS which sparked a global alert in September has now killed two people in Saudi Arabia, and total cases there and in Qatar have reached six, the World Health Organisation said.


The U.N. health agency issued an international alert in late September saying a virus previously unknown in humans had infected a Qatari man who had recently been in Saudi Arabia, where another man with the same virus had died.












On Friday it said in an outbreak update that it had registered four more cases and one of the new patients had died.


“The additional cases have been identified as part of the enhanced surveillance in Saudi Arabia (3 cases, including 1 death) and Qatar (1 case),” the WHO said.


The new virus is known as a coronavirus and shares some of the symptoms of SARS, or Severe Acute Respiratory Syndrome, which emerged in China in 2002 and killed around a 10th of the 8,000 people it infected worldwide.


Among the symptoms in the confirmed cases are fever, coughing and breathing difficulties.


Of the six laboratory-confirmed cases reported to WHO, four cases, including the two deaths, are from Saudi Arabia and two cases are from Qatar.


Britain’s Health Protection Agency, which helped to identify the new virus in September, said the newly reported case from Qatar was initially treated in October in Qatar but then transferred to Germany, and has now been discharged.


Coronaviruses are typically spread like other respiratory infections, such as flu, travelling in airborne droplets when an infected person coughs or sneezes.


The WHO said investigations were being conducted into the likely source of the infection, the method of exposure, and the possibility of human-to-human transmission of the virus.


“Close contacts of the recently confirmed cases are being identified and followed-up,” it said.


It added that so far, only the two most recently confirmed cases in Saudi Arabia were epidemiologically linked – they were from the same family, living in the same household.


“Preliminary investigations indicate that these two cases presented with similar symptoms of illness. One died and the other recovered,” the WHO’s statement said.


Two other members of the same family also suffered similar symptoms of illness, and one died and the other is recovering. But the WHO said laboratory test results on the fatality were still pending, and the person who is recovering had tested negative for the new coronavirus.


The virus has no formal name, but scientists at the British and Dutch laboratories where it was identified refer to it as “London1_novel CoV 2012″.


The WHO urged all its member states to continue surveillance for severe acute respiratory infections.


“Until more information is available, it is prudent to consider that the virus is likely more widely distributed than just the two countries which have identified cases,” it said.


(Editing by Alison Williams)


Health News Headlines – Yahoo! News


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Ang Lee talks about risks, spirituality of “Life of Pi”












NEW YORK (Reuters) – Gay cowboy drama “Brokeback Mountain” may have been considered a risky film to make, but director Ang Lee said his new movie, “Life of Pi,” a 3D exploration of faith about a boy stranded on a boat with a Bengal tiger, is his riskiest yet.


The film, which was released in U.S. theaters this week, is adapted from Yann Martel‘s best-selling novel of the same name and was once considered impossible to make.












Oscar-winning Taiwanese director Lee, 58, took on the laborious task of using computer-generated imagery to bring the sensational plot to the big screen, taking a year and a half just to edit the film together.


The director talked to Reuters about the film’s themes, technical barriers and casting an unknown actor in the lead.


Q. Why was “Life of Pi” considered unfilmable?


A. “Because you cannot make the tiger do everything you want to do, you have to use digital. A digital animal, up until two years ago, was not totally realistic yet, let alone in 3D, and then water is pretty difficult.”


Q. Was this your most difficult filming experience yet?


A. “Oh yes. And it was also the longest…there was the technical difficulty and then it is a big movie. And it was across continents, I finally decided to shoot most of it in Taiwan, but we also had to go to India to shoot for two to three weeks. Because you can’t fake Pondicherry, and Munnar. And then we have scenes in Canada.”


Q. But Brokeback Mountain was a risky film too?


A. “No, that wasn’t for me. At least when I made it, I thought it was strictly arthouse and few people would see it. And it’s a lot cheaper (to make). So I didn’t care…And then I got nervous, ‘Oh they are going to lynch me, making a gay cowboy movie, that will go into a shopping mall.’”


Q. It was only after you made it you realized that?


A. “Yes, I was afraid. I was looking around when I walked, when I would go home, to see if anybody was following me. Once it hit the shopping mall I was nervous, actually. My brother is a distributor in Taiwan and I told him not to buy it. He hates me to this day, he is still babbling about it.”


Q. Why choose unknown Suraj Sharma to play Pi?


A. “I wanted someone authentic, and no bad habits, that means you have to train them from the start. “


Q. Why did you replace Tobey Maguire and reshoot his scenes with the little-known Rafe Spall?


A. “It was a small part, and he is a big movie star. He is a good old friend of mine and he would do this for nothing, for me. But he is not doing anything (in the role), he is just sitting there listening most of the time. It becomes a little distracting I think.”


Q. How does the film explore spirituality?


A. “To me, faith can be elusive, but .. As a Taoist would say, ‘That’s the apple’s truth.’ The source of all the material comes from nothingness, illusion is working more on things you can prove. That’s the principle, the essence of life, it is actually an illusion, not immaterial. That’s worth pursuing. So illusion is not nothing. In a way, that is the truth.”


“Sometimes I feel (illusions) are more of life’s essence, I can trust them more than real life that is full of deceit and covering up.”


Q. Did exploring faith encourage you to make this?


“The book is fascinating, it talks about faith. But it didn’t make me believe in God or anything…I didn’t go to church or a temple after that. When I started making the movie, you do feel faith embody you and carry you through. But when I picked the subject, and chose to do the book, it was actually more storytelling in my mind. The value of storytelling. How people share a story. Because a story has structure, it has a beginning, middle and end. It seems to have meaning, where life has not.”


Q. Do you practice any religion?


A. “No, my mother is a baptized Christian, so she made me go to church every Sunday, and I prayed four times a day until I was 14. And at lunchtime kids at school would giggle at my praying…I stopped praying. And two weeks later, nothing happened to me, so I didn’t pick it up again.”


“I am not particularly religious. But I think we do face the question of where God is, why we are created and where does life go, why we exist. That sort of thing. And it is very hard to talk about it these days, because it cannot be proven. It is hard to discuss it rationally.”


Q. Do you consider yourself spiritual?


A. “I hate to think life is just facts and laws. And I am a filmmaker, I am a sensitive person, I like to think it is spiritual, so I like people to be more in that way. I think life without spirit is in the dark, it is absurd. Call it illusion or call it faith, whatever you call it, we have emotional attachment to the unknown. We yearn to find out. That is human nature. It can be, in a way, unrequited love, we don’t know. I don’t have a particular God I pray to, except sometimes a movie god.” (laughs)


(Reporting by Christine Kearney, editing by Piya Sinha-Roy and Andrew Hay)


Celebrity News Headlines – Yahoo! News


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Massachusetts gas explosion under investigation

SPRINGFIELD, Mass. (AP) — Dozens of building inspectors began assessing homes and businesses in one of New England's biggest cities on Saturday, a day after a natural gas explosion leveled a strip club located next to a day care and heavily damaged a dozen other structures. The blast injured 18 people, many of them first responders.

Investigators were trying to figure out what caused the Friday night blast in Springfield that could be heard for miles, left a large hole in the ground where the multistory brick building housing Scores Gentleman's Club once stood and scattered debris over several blocks.

Officials had already evacuated part of the entertainment district after responding to a gas leak and odor reported about an hour before the explosion while firefighters, police officers and gas company workers were in the area filled with commercial properties and residences.

"It really is a miracle and it's an example of our public safety officials, each and every day, putting themselves in harm's way, taking what could have been considered a very routine call of an odor of gas, but they took the proper precautions," State Fire Marshal Stephen Coan said. "And thanks to God that they did."

Officials also marveled how the 5:30 p.m. blast occurred when a day care center next door was closed. The center's building was heavily damaged.

Lt. Gov. Tim Murray and Springfield Mayor Domenic Sarno were attending a tree-lighting ceremony when the explosion occurred. Sarno said some people mistakenly thought the boom was part of the holiday event.

The explosion blew out windows in a three-block radius, leaving at least three buildings irreparably damaged and causing emergency workers to evacuate a six-story apartment building that was buckling, police said. Pieces of broken glass littered streets and sidewalks. It was unclear how many residents had been evacuated. A shelter was set up at a school.

Omar Fermin, manager of the Punta Cana Restaurant two blocks from the explosion site, found the floor-to-ceiling windows blasted out when he came to check on the property Saturday morning.

"It looks like an earthquake hit," said Fermin, a native of the Dominican Republic. "I've never seen anything like it."

He said he was waiting for somebody to come and assess the damage. He worried the restaurant would remain closed for weeks while the owner seeks to replace the massive custom-made windows.

Authorities cordoned off the center of the explosion Saturday morning as building inspectors worked to identify unsafe structures. Anxious residents gathered at the perimeter, waiting for permission to visit their buildings.

Dogs trapped in abandoned buildings barked out loudly Saturday as building inspectors fanned out across the area. One inspector said he wished he could get a ladder and permission to retrieve a dog that was barking in the upper floor of one building sealed off from residents.

Coan, the fire marshal, said his office was investigating a cause of the blast and its possible origin. The state's Department of Public Utilities was also investigating.

Sheila Doiron, a spokeswoman for Columbia Gas of Massachusetts, said the company will continue to monitor for any potential leaks within several blocks of the blast site. So far, she said, the company hadn't yet found any measurable readings.

Doiron said the company also didn't find in its records any gas odor calls to the area where the strip club was located.

The victims were taken to two hospitals in the city. None of their injuries was considered life-threatening, officials said. Those injured were nine firefighters, two police officers, four Columbia Gas workers, two civilians and another city employee.

Springfield, which is 90 miles west of Boston and has about 150,000 residents, is the largest city in western Massachusetts. It's known as the home of the Basketball Hall of Fame, which is not in the vicinity of the blast.

The city has been rebuilding from damage it sustained in a June 2011 tornado.

On Friday night, residents milled around the neighborhood where the explosion occurred, stunned by the destruction and confused by the cordoned-off area, which grew as crews continued to search for gas leaks. The mayor warned against looting, saying police would be out in force.

Wayne Davis, who lives about a block away from the destroyed building, said he felt his apartment shake.

"I was laying down in bed, and I started feeling the building shaking and creaking," he said.

The Navy veteran said the boom from the explosion was louder than anything he'd ever heard, including the sound of a jet landing on an aircraft carrier.

The blast was so loud it was heard in several neighboring communities. Video from WWLP-TV showed the moment of the explosion, with smoke billowing into the air above the neighborhood.

___

Associated Press writers Rodrique Ngowi, Bridget Murphy and Bob Salsberg in Boston and Jessica Hill in Springfield contributed to this report.

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