Over 20 million tweets sent as Sandy struck

























SAN FRANCISCO (Reuters) – Twitter users flocked to the micro-messaging network this week as Hurricane Sandy swept through the eastern U.S. seaboard, sending more than 20 million tweets about the storm between Saturday and Thursday, the company said.


This far exceeds the 13.7 million tweets sent during the Super Bowl in February, typically the largest media event of the year.





















Founded in 2006, Twitter has sought to position itself as a “second screen” media product that users can pull up on their smartphones while watching events like the Super Bowl or the Olympics on television.


But the service has shone as a communication channel during major disasters, such as in the wake of the 2011 tsunami in Japan.


Twitter, which has been susceptible to occasional outages, stayed up glitch-free this week, serving at times as a vital source of information for afflicted residents.


The number of times that users in New York City loaded their home timeline from a mobile device peaked around 9 p.m. Monday night, around the time an explosion at a Consolidated Edison transformer knocked out power, more than doubling the total from the previous two days, the company said, without providing details.


The 20 million tweets included the terms “sandy,” “hurricane,” “#sandy,” and “#hurricane,” the company said.


(Reporting by Gerry Shih; Editing by Richard Chang)


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Disney-ABC Adds to Sandy “Day of Giving”

























NEW YORK (TheWrap.com) – Disney-ABC is expanding on plans to designate Monday a “Day of Giving” that will fill ABC’s schedule from morning until late night with calls to donate to Hurricane Sandy victims.


Disney has announced a $ 2 million donation to hurricane relief, and from “Good Morning America” until “Jimmy Kimmel Live!” on Monday, every ABC show will urge viewers to help.





















ABC said Friday that ABC Family, SOAPnet, Radio Disney, “General Hospital,” “Who Wants To Be A Millionaire” and the Disney Stores will all get into the giving spirit.


ABC Family and SOAPnet will show “Day of Giving” PSAs on air, on their websites and through social media. Radio Disney will feature similar messages on the air and on Facebook. “General Hospital” stars have recorded PSAs that will air during the show and throughout network programming, and “Who Wants a Millionaire” will also include messages and PSAs.


The Disney Store and DisneyStore.com, meanwhile, will spread the word with in-store PSAs, social marketing efforts, emails and messages on the DisneyStore.com home page.


“The response to Monday’s ‘Day of Giving’ has been nothing short of amazing, and I’m thrilled that ABC Family, SOAPnet, Radio Disney, ‘General Hospital,’ ‘Who Wants To Be A Millionaire’ and the Disney Stores across the nation have joined the cause,” said Anne Sweeney, co-chair of Disney Media Networks and president of Disney-ABC Television Group. “We are going to do everything possible to encourage our viewers and customers to help those who are dealing with Sandy’s devastation.”


TV News Headlines – Yahoo! News



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Lennon’s Tooth to Help Fight Cancer

























Imagine there’s no oral cancer. It isn’t hard to do. You may say I’m a dreamer. But I’m not the only one.


Those rewritten John Lennon lyrics may be Tony Gedge‘s new motto.





















Gedge has made it his life’s work to reduce the rates of oral cancer in his native Britain. And now, Gedge has enlisted the former Beatle to help inspire Brits to walk into the dentist and receive a simple, 10-minute-long test for oral cancer.


Specifically, Gedge has turned to one of John Lennon’s molars.


Encased in a smart silver pendant, Lennon’s tooth is going on tour. Walk into your dentist’s office, try on the necklace with the tooth, and get a free cancer screening.


“The biggest group at risk for oral cancer are males, 55-59,” Gedge told ABC News. “They were around when the Beatles were doing their thing. So to appeal to the 55-plus boomer market, to get them into the practice with something they know – the Beatles – was far easier than getting them in by spouting a bunch of statistics.”


In 2010 in Britain, nearly 2,000 people died from oral cancer. In the U.S., that number was 7,850, with more than 40,000 new cases. If the cancer is caught early, most people will survive. (Click here for the National Cancer Institute’s guide to preventing Oral Cancer.)


For Gedge, those statistics are personal.


Gedge lost his father to mouth cancer, and his mother now feeds through a tube because she too had oral cancer.


“Since that happened, I’ve been working with dentists to help them promote dentistry to make it more interesting to the general public,” he says.


In the mid 1960s, Lennon gave his tooth to his housekeeper, Dot Jarlett, while she worked at his home southwest of London. Her family kept it until last year, when Canadian dentist Michael Zuk bought it in an auction for more than $ 31,000.


Zuk then created three necklaces containing fragments of tooth and sent one to Gedge, who runs a charity called Dental Mavericks.


In the next few weeks the necklace will visit 16 dental practices. Dentists will check anyone who comes in to see the tooth for oral cancer – an easy and painless detection that can be done with the help of a special light.


Castlepark Dental Centre in Hull in northeast England, one of the first practices taking part, has already screened about 100 people, Gillian Fisher, the practice manager, told ABC News.


“Fifty years ago this week the Beatles were playing at the local cinema,” Fisher said. “The patients were coming in and talking about what they were wearing, what they were playing. It was a total trip down memory lane for them. Through the curiosity we’re hoping to raise awareness of mouth cancer.”


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US economy adds 171,000 new jobs

345a3   63884425 63884424 US economy adds 171,000 new jobs
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Do ordinary Americans feel their economy is on the road to recovery?

The US economy added 171,000 new jobs in October, which was much more than had been expected.

But the official figures from the Labor Department showed that the unemployment rate still rose to 7.9%, having fallen to 7.8% in September, as more workers resumed the search for jobs.

Only people who are currently looking for a job count as unemployed.

Unemployment is one of the key issues ahead of Tuesday’s presidential election.

The figures were the last major set of economic data scheduled before the election and the Republican candidate, Mitt Romney, has made the state of the jobs market one of the central planks of his campaign.

“Today’s increase in the unemployment rate is a sad reminder that the economy is at a virtual standstill,” he said.

“The jobless rate is higher than it was when President Obama took office, and there are still 23 million Americans struggling for work.”

The number of jobs created in the previous two months was revised upwards, with an extra 34,000 jobs added in September and 50,000 added in August.

Continue reading the main story

Analysis


For President Obama, there is good and bad news in these latest jobs figures.

He can breathe a sigh of relief that, when Americans vote next week, there are more of them with jobs than when he took office.

His challenger Mitt Romney can no longer accuse him of presiding over a net loss of jobs.

However, the unemployment rate rose and is now higher than it was when Mr Obama took over at the White House.

Setting out the key figures still leaves another vital political question: who is at fault for the state of the US labour market?

Was it due to a recession already in full swing when he took over or did his policies aggravate the situation?


“We’ve made real progress,” Barack Obama told a crowd in Ohio.

“But we’ve got more work to do.”

Despite the new jobs, Barack Obama will still go to the polls with the highest rate of unemployment of any president seeking re-election since Franklin D Roosevelt.

The unemployment rate edged up slightly because the number of people looking for jobs increased. These were people who had previously given up hope of finding work, but who now think they may have a better chance. As a result, this increase may be seen as a sign of confidence in the economy, analysts say.

The total workforce, which is the number of people either working or looking for jobs, rose 578,000 in October.

Improved direction

The Labor Department said in its release that Hurricane Sandy, which hit the East Coast of the US on 29 October, had had “no discernable effect” on the employment data.

The number of involuntary part-time workers, who would prefer to be working full-time, fell 269,000 to 8.3 million, having risen by 582,000 in September.

Kathy Jones from Charles Schwab said they were good numbers, but warned that: “We’re way short of where we need to be to bring down the unemployment rate to where the Federal Reserve would like to see, closer to 6% than 8%.”

“We would need to see twice as many jobs as we’re seeing, but the direction has improved.”

The average number of jobs added per month so far in 2012 has been 157,000, which is slightly ahead of the average of 153,000 in 2011.

Continue reading the main story

"Remember that butterfly whose wing-beat in the Amazon causes a storm over the Atlantic? I think she is hovering over the election right now"

The category adding the most jobs in October was professional and business services, followed by healthcare and retailing.

There was also a small increase in employment in the construction sector, which has been helped by a pick-up in house building.

The average working week was 34.4 hours for the fourth month in a row, while the average hourly wage was down one cent at $ 23.58 (£14.69).

Despite there being signs of momentum in the jobs market, there is great concern in the US about what 2013 will bring.

Whoever wins the presidential election will have to reach a budget agreement with legislators by the end of the year, to prevent $ 600bn of tax increases and spending cuts kicking in automatically in 2013.

The measures, known as the fiscal cliff, could take the US back into recession.

There is also some uncertainty about the coming months as a result of Hurricane Sandy.

Many businesses will have their work interrupted by effects of the storms. On the other hand, reconstruction on the East Coast is likely to increase employment in the construction sector.

In New York, the Dow Jones index opened higher but had fallen 40 points, or 0.3%, by late morning trading, while the US dollar was up two-fifths of a cent against the pound.

BBC News – Business
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Gruesome video raises concerns about Syria rebels

























BEIRUT (AP) — A video that appears to show a unit of Syrian rebels kicking terrified, captured soldiers and then executing them with machine guns raised concerns Friday about rebel brutality at a time when the United States is making its strongest push yet to forge an opposition movement it can work with.


U.N. officials and human rights groups believe President Bashar Assad‘s regime is responsible for the bulk of suspected war crimes in Syria‘s 19-month-old conflict, which began as a largely peaceful uprising but has transformed into a brutal civil war.





















But investigators of human rights abuses say rebel atrocities are on the rise.


At this stage “there may not be anybody with entirely clean hands,” Suzanne Nossel, head of the rights group Amnesty International, told The Associated Press.


The U.S. has called for a major leadership shakeup of Syria’s political opposition during a crucial conference next week in Qatar. Washington and its allies have been reluctant to give stronger backing to the largely Turkey-based opposition, viewing it as ineffective, fractured and out of touch with fighters trying to topple Assad.


But the new video adds to growing concerns about those fighters and could complicate Washington’s efforts to decide which of the myriad of opposition groups to support. The video can be seen at http://bit.ly/YxDcWE .


“We condemn human rights violations by any party,” U.S. State Department spokeswoman Victoria Nuland said, commenting on the video. “Anyone committing atrocities should be held to account.”


She said the Free Syrian Army has urged its fighters to adhere to a code of conduct it established in August, reflecting international rules of war.


The summary execution of the captured soldiers, purportedly shown in an amateur video, took place Thursday during a rebel assault on the strategic northern town of Saraqeb, said the Britain-based Syrian Observatory for Human Rights, an activist group.


It was unclear which rebel faction was involved, though the al-Qaida-inspired Jabhat al-Nusra was among those fighting in the area, the Observatory said.


The video, posted on YouTube, shows a crowd of gunmen in what appears to be a building under construction. They surround a group of captured men on the ground, some on their bellies as if ordered to lie down, others sprawled as if wounded. Some of the captives are in Syrian military uniforms.


“These are Assad’s dogs,” one of the gunmen is heard saying of those cowering on the ground.


The gunmen kick and beat some of the men. One gunman shouts, “Damn you!” The exact number of soldiers in the video is not clear, but there appear to be about 10 of them.


Moments later, gunfire erupts for about 35 seconds, screams are heard and the men on the floor are seen shaking and twitching. The spray of bullets kicks up dust from the ground.


The video’s title says it shows dead and captive soldiers at the Hmeisho checkpoint. The Observatory said 12 soldiers were killed Thursday at the checkpoint, one of three regime positions near Saraqeb attacked by the rebels in the area that day.


Amnesty International’s forensics analysts did not detect signs of forgery in the video, according to Nossel. The group has not yet been able to confirm the location, date and the identity of those shown in the footage, she said.


After their assault Thursday, rebels took full control of Saraqeb, a strategic position on the main highway linking Syria’s largest city, Aleppo — which rebels have been trying to capture for months — with the regime stronghold of Latakia on the Mediterranean coast.


On Friday, at least 143 people, including 48 government soldiers, were killed in gunbattles, regime shelling attacks on rebel-held areas and other violence, the Observatory said.


Of the more than 36,000 killed so far in Syria, about one-fourth are regime soldiers, according to the Observatory. The rest include civilians and rebel fighters, but the group does not offer a breakdown.


Daily casualties have been rising since early summer, when the regime began bombing densely populated areas from the air in an attempt to dislodge rebels and break a battlefield stalemate.


Karen Abu Zayd, a member of the U.N. panel documenting war crimes in Syria, said the regime is to blame for the bulk of the atrocities so far, but that rebel abuses are on the rise as the insurgents become better armed and as foreign fighters with radical agendas increasingly join their ranks.


“The balance is changing somewhat,” she said in a phone interview, blaming in part the influx of foreign fighters not restrained by social ties that bind Syrians.


Abu Zayd said the panel, though unable to enter Syria for now, has evidence of “at least dozens, but probably hundreds” of war crimes, based on some 1,100 interviews. The group has already compiled two lists of suspected perpetrators and units for future prosecution, she said.


Many rebel groups operate independently, even if they nominally fall under the umbrella of the Free Syrian Army. In recent months, rebel groups have formed military councils to improve coordination, but the chaos of the war has allowed for considerable autonomy at the local level.


“The killing of unarmed soldiers shows how difficult it is to control the escalation of the conflict and establish a united armed opposition that abides by the same ground rules and norms in battle,” said Anthony Skinner, an analyst at Maplecroft, a British risk analysis company.


Rebel commanders and Syrian opposition leaders have promised human rights groups that they would try to prevent abuses. However, New York-based Human Rights Watch said in a report in September that statements by some opposition leaders indicate they tolerate or condone extrajudicial killings.


Free Syrian Army commanders contacted by the AP on Friday said they were either unaware or had no accurate details about the latest video.


Ausama Monajed, a member of the Syrian National Council, the main opposition group in exile, called for the gunmen shown in the video to be tracked down and brought to justice.


He added, however, that atrocities committed by rebels are relatively rare compared to what he said was a “massive genocide by the regime.”


Regime forces have launched indiscriminate attacks on residential neighborhoods with tank shells, mortar rounds and bombs dropped from warplanes, devastating large areas. In raids of rebel strongholds, Assad’s forces have carried out summary executions, rights groups say.


Rebels have also targeted civilians, setting off car bombs near mosques, restaurants and government offices. Human Rights Watch said in September it collected evidence of the summary executions of more than a dozen people by rebels.


In August, a video showed several bloodied prisoners being led into a noisy outdoor crowd in the northern city of Aleppo and placed against a wall before gunmen shot them to death. That video sparked international condemnation, including a rare rebuke from the Obama administration.


The latest video emerged on the eve of a crucial opposition conference that is to begin Sunday in Qatar’s capital of Doha. More than 400 delegates from the Syrian National Council and other opposition groups are expected to attend to choose a new leadership.


U.S. Secretary of State Hillary Rodham Clinton has called for a more unified and representative opposition, even suggesting the U.S. would handpick some of the candidates.


Clinton’s comments reflected growing U.S. impatience with the Syrian opposition, which, in turn, has accused Washington of not having charted a clear path to bringing down Assad.


The Syrian National Council plans to elect new leaders during the four-day conference but is cool to a U.S. proposal to set up a much broader group and a transitional government, said Monajed, the SNC member who runs a think tank in Britain.


U.S. officials have said Washington is pushing for a greater role for the Free Syrian Army and representation of local coordinating committees and mayors of liberated cities in Syria.


Nuland said that it would be easier for the international community to deliver humanitarian assistance to civilians and non-lethal aid to the rebels once a broader, unified opposition leadership is in place.


Such a body could also help persuade Assad backers Russia and China “that change is necessary” and that Syria’s opposition has a better plan for the country than the regime, she said.


___


Associated Press writer Matthew Lee in Washington contributed to this report.


Middle East News Headlines – Yahoo! News



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UK: Apple must apologize again over copycat claims

























LONDON (AP) — British judges say Apple needs to apologize once more for falsely claiming that South Korea’s Samsung copied its iPad, the latest embarrassing episode in the tech rivals’ world-spanning patent battle.


Apple Inc. was ordered to print an apology on its website after British judges repeatedly rejected its claim that Samsung Electronics Co. ripped off its designs when creating its own tablet computer, the Galaxy Tab.





















Apple did post an apology, but judges at London’s High Court ruled Thursday that it didn’t go far enough and ordered a new one posted to its site within 48 hours.


Samsung and Apple are locked in a series of international lawsuits over alleged copyright violations, including a California case which saddled Samsung with a $ 1 billion fine for copying Apple’s design.


Gadgets News Headlines – Yahoo! News



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Ralph Nader to Stephen Colbert: Give me your Super PAC cash!

























LOS ANGELES (TheWrap.com) – Stephen Colbert‘s super PAC is sitting on nearly $ 778,000 in cash, and five-time presidential candidate Ralph Nader knows exactly where to spend it.


On Ralph Nader.





















If only Colbert would listen.


The longtime consumer advocate told TheWrap in an exclusive interview that he has been trying to get the “Colbert Report” host to donate the money remaining in Americans for a Better Tomorrow, Tomorrow’s coffers to the nonprofit American Museum of Tort Law he plans to build.


Dedicated to personal injury and other tort cases, the museum will go up in Nader’s hometown of Winsted, Conn. Nader announced the plans, and started fundraising, 14 years ago.


“Since he deals with wrongful injuries and reputations night after night, there must be a little humor here,” Nader told TheWrap. “Tell him we’ll name the courtroom after him.”


There’s just one problem: Nader can’t get to Colbert, even though Nader feels responsible for the Comedy Central host’s success.


In 2004, while Colbert was hosting “The Daily Show” during the birth of Jon Stewart’s first child, Nader was the interviewed guest. A year later, Colbert got his own show.


“He did so well that they gave him his own program,” Nader said. “So you’d think he’d be accessible to me, right?”


Apparently, wrong.


Even as Colbert trolled the Republican presidential campaigns as a possible third-party candidate during the primary earlier this year, Nader – the nation’s perennial third-party runner – couldn’t get in touch with him.


“Forget it, forget it,” he said. “It’s almost impossible to reach celebrity media these days.”


A spokesman for Colbert and Americans for a Better Tomorrow, Tomorrow did not respond to repeated emails and phone calls from TheWrap requesting comment.


Nader did tell TheWrap that he was happy to see Colbert satirize the growing role of money in electoral politics and draw attention to a candidate outside the two-party nexus.


“Since our elections are for sale at ever-higher auction prices, it’s good that he did this satirical effort to highlight the absurdity of it all,” Nader said.


Colbert first announced the formation of his own super PAC during a March 2011 segment of his show. He set up a company in the regulatory oasis of Delaware called Anonymous Shell Company and began raising funds for a farcical campaign.


After briefly declaring his candidacy for “President of the United States of South Carolina,” Colbert launched a series of ads urging voters to cast ballots for Rick Parry — a spinoff of then-candidate Texas Gov. Rick Perry. Later, he threw his support behind Herman Cain, the pizza mogul who was widely mocked for his candidacy and seemingly far-fetched tax plans.


While he scored around $ 1 million for his PAC, the $ 778,000, according to an SEC filing, is what’s left after advertising and expenses.


So far, Nader seems to be one of the few people gunning for the funds. But Colbert has floated at least one idea about how to spend it.


After real-estate-mogul-cum-reality-star-cum-political-blowhard Donald Trump offered President Obama $ 5 million to a charity of his choice to reveal his college and medical records, Colbert made Trump an offer.


The comedian said he’d donate $ 1 million to a charity of Trump’s choice – if he allows Colbert to dip his testicles in his mouth.


So far, at least, Trump has not accepted the offer.


TV News Headlines – Yahoo! News



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Hospitals sue government over private Medicare audits

























WASHINGTON (Reuters) – A coalition of hospitals sued the U.S. government on Thursday, claiming that private auditors hired to crack down on improper Medicare payments are denying hospitals hundreds of millions of dollars in legal payments for necessary care.


The lawsuit alleges auditors known as Recovery Audit Contractors (RAC) forced hospitals to repay Medicare for the cost of in-patient services by determining months and sometimes years after the fact that beneficiaries should have been treated as out-patients instead of being admitted.





















The plaintiffs — the American Hospital Association and four institutions from Missouri, Michigan and Pennsylvania — say auditors in many cases do not deny the care is necessary but the government still refuses to reimburse hospitals under the Medicare program for out-patient service.


Filed in U.S. District Court in Washington, the suit charges the U.S. Centers for Medicare and Medicaid Services with violating the law that governs the popular Medicare program for the elderly and disabled as well as other statutes.


A spokesman for U.S. Centers for Medicare and Medicaid Services said it is administration policy not to comment on pending litigation.


The RAC audit program, established under the Bush administration to curtail improper Medicare payments, has collected $ 1.86 billion in overpayments from October 2009 to March 2012, according to the court filing.


(Reporting by David Morgan; editing by Andrew Hay)


Seniors/Aging News Headlines – Yahoo! News



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Asian factories perk up, U.S. shows improvement

























NEW YORK/BEIJING (Reuters) – Asia‘s large economies started to pick up steam last month after a year of slower growth, surveys showed on Thursday, while U.S. manufacturing showed modest improvement.


The jury was out on whether the data signaled sustained improvement in the fragile global economy, although analysts said strength in the United States and China, the world’s two biggest economies, was essential to overall economic well-being.





















That is particularly so at a time when a debt crisis in the 17-country euro zone has plunged several countries in the region into recession. Reports on major euro zone countries are due on Friday and expected to show continued economic contraction.


But the picture appeared to be brightening elsewhere.


The Institute for Supply Management said the pace of U.S. manufacturing growth picked up slightly in October, with its index rising to a five-month peak of 51.7. But hiring in the sector slowed.


A separate report from data firm Markit showed the slowest pace of growth in 37 months, the result of reduced demand for U.S. goods overseas.


“It looks like manufacturing has stopped deteriorating. It’s weak growth but it’s growth,” said Christopher Low, chief economist at FTN Financial.


More encouraging, payrolls processor ADP said U.S. companies added 158,000 jobs in October, far more than the 135,000 forecast in a Reuters poll. [ID:nEAPA10EH0] Another report showed consumer confidence at a four-year high. [ID:nL1E8LV9LZ]


The data was welcomed by the U.S. stock market, which rose on the second day since it reopened following a massive storm that battered the U.S. Northeast earlier this week.


The data “are encouraging,” said David Sloan, economist at 4Cast Ltd in New York. “There shouldn’t be any distortions from the hurricane yet. There is some evidence of labor market improvement. It is not totally convincing yet but overall the message is positive.”


A more comprehensive government jobs report due Friday, however, was expected to be a bigger test of U.S. labor market health and will be the last economic data before the November 6 presidential election. Economists surveyed by Reuters expected the economy added 125,000 jobs in October.


In Brazil, manufacturing expanded for the first time since March, according to the HSBC Purchasing Managers’ Index, boosting hopes for economic improvement in the fourth quarter.


ASIAN REBOUND


Data from Asia was encouraging as well. China’s economy, the motor of global growth in recent years, appears to have gathered pace in October after slowing to its weakest pace in more than three years in the third quarter.


Chinese manufacturing showed renewed vim, with the official manufacturing purchasing managers’ index rising to 50.2 from 49.8 in September. Economists said that could help lift fourth-quarter growth above the 7.4 percent rate recorded in the July-to-September period.


Also on Thursday, the final reading of the Chinese HSBC PMI rose to 49.5 in October from 47.9 in September. The reading was the highest since February.


The official PMI generally paints a rosier picture of the factory sector than the HSBC PMI as the official survey focuses on big, state-owned companies, while the HSBC survey targets smaller, private companies that have limited access to bank loans.


“Overall sentiment is brightening and Chinese orders are suggesting a moderate recovery,” said Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo.


Beijing has been following a program of pro-growth fine tuning of economic policies for a year and analysts broadly expect that to remain in place when a new leadership line-up at the top of the ruling Communist Party is unveiled this month.


“The return of the PMI above 50 suggests economic momentum has indeed picked up. It indicates the effect of policy easing may have been stronger than the consensus expected,” Zhiwei Zhang of Nomura said in a comment emailed to Reuters.


“We believe macro data will continue to surprise on the upside in coming months, as the government continues to ease policy through the period of leadership transition.”


South Korea, another of Asia’s manufacturing powerhouses, posted the first annual rise in exports in four months in October, adding to hopes for a turnaround after a year-long slump in global trade.


HEADING FOR THE CLIFF?


The biggest risk to more robust global growth, however, may be just around the corner. After the U.S. election, Congress will have less than two months to decide whether to let some $ 600 billion of automatic tax increases and spending cuts to take effect.


While fiscal tightening of that magnitude would help reduce a U.S. budget deficit of more than $ 1 trillion – something both Democrats and Republican say is essential – it would also be a big hit on U.S. output, which would threaten global growth.


That has raised concern among some central bankers and finance ministers due to attend a Group of 20 meeting in Mexico on Sunday and Monday.


It was also keeping market participants uneasy.


“The big thing weighing on business sentiment is the fiscal cliff. Things like investing and hiring are delayed but not cancelled outright,” said FTN Financial’s Low said.


“The divergence between business and consumer sentiment is unusual. Consumers seem oblivious about possible tax increases.”


(Additional reporting by Yati Himatsingka in Bangalore, Jonathan Standing in Taipei and Sven Egenter in London; Editing by Clive McKeef and Andre Grenon)


Economy News Headlines – Yahoo! News



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Canada will push to keep bank capital rules on schedule

























OTTAWA (Reuters) – Canada will urge all countries to stick to the agreed schedule for implementing tougher bank capital rules at a November 4-5 meeting of finance ministers and central bankers from the Group of 20 nations, a senior finance ministry official said on Thursday.


The so-called Basel III rules are the world’s regulatory response to the financial crisis, forcing banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts.





















They were to be phased in from January 2013 but areas such as the United States and the European Union are not yet ready and U.S. and British supervisors have criticized them as too complex to work.


The Canadian official, who briefed reports ahead of the meeting on condition that he not be named, said it was imperative that the rules, the timelines and the principles behind them be respected and said Finance Minister Jim Flaherty would make that view known to his G20 colleagues.


Canada sees the European debt crisis as the biggest near-term risk to the global economy, and it also expects the U.S. debt crisis to be top of mind at the talks, the official said.


But the meeting takes place just before the U.S. presidential election and U.S. Treasury Secretary Timothy Geithner will be absent, so it remains unclear how much the G20 can pressure Washington on that front.


Some other countries have also scaled back their delegations, raising doubts about how meaningful the meeting will be.


The official dismissed that argument, saying high-level officials substituting for their ministers allowed for extremely important issues to be addressed anyway.


He said holding each country around the table accountable to its past commitments helped keep the momentum going toward resolving global economic problems.


(Reporting by Louise Egan; Writing by David Ljunggren; Editing by M.D. Golan)


Canada News Headlines – Yahoo! News



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