News Int'l has 100 million pound hacking legal fund: report (Reuters)

LONDON (Reuters) ? The British arm of News Corp has increased the legal fund it will use to settle civil litigation cases brought by victims of phone hacking to 100 million pounds ($155 million) from 20 million, the Independent newspaper reported Thursday.

Rupert Murdoch's News International has earmarked the money to settle several high-profile cases, with some settlements expected to be well over 1 million pounds apiece, said the newspaper, citing sources close to the situation.

A News International spokeswoman called the 100 million pound figure "purely speculative."

News International has settled legal claims by a number of high profile public figures but is still negotiating a host of further claims after it admitted hacking the phones of celebrities, politicians and victims of crime.

($1=0.6465 British pounds)

(Reporting by Rosalba O'Brien, Georgina Prodhan; Editing by David Holmes and Mike Nesbit)

Source: http://us.rd.yahoo.com/dailynews/rss/enindustry/*http%3A//news.yahoo.com/s/nm/20111229/media_nm/us_newscorp_hacking

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BingChicken: Save 55% on blacklight miniature golf and lunch at Shipwreck Golf, just up Route 81 in Cortland! Our last deal of 2011! http://t.co/laBQtijz

Loader Save 55% on blacklight miniature golf and lunch at Shipwreck Golf, just up Route 81 in Cortland! Our last deal of 2011!

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Oil Prices Predicted to Remain Above $100 a Barrel Next Year

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Source: www.nytimes.com --- Wednesday, December 28, 2011
Analysts say higher global demand and possible supply problems from Iran could keep the price for a barrel of Oil in the triple digits. ...

Source: http://feeds.nytimes.com/click.phdo?i=9dad88068662f626fe7c2f6e0b37a232

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US oil inventories remain close to historical average

US oil stocks Dec11.pngThe blog suspects that the above chart may not feature prominently in the New Year reports about to be published by the main oil market brokers.

These will instead probably highlight the view that oil markets are very tight, and that prices should surely go higher. They have held this view for several years, and made good profits from selling high-priced futures to their pension fund and other clients, as we noted in chapter 3 of our 'Boom, Gloom and the New Normal' ebook.

The chart gives the history of US oil demand and inventories on a monthly basis since official US Energy Information Administration records began in 1963. It shows

? Total inventories in terms of combined 'days of demand' for crude oil and products (red line, left hand scale)
? Total supply of crude oil & products (kbd, green line, right hand scale)

February 2003's inventory at 42 days of demand was the lowest-ever level. February 1973 saw 45 days of demand momentarily. Inventory was also at 45 days in December 1999, and between December 2003-April 2004, and at 47 days in December 2007.

But since the Great Recession began in Q4 2008, it has not been below 54 days. Last September, the latest month available, it was at 58 days. This was very close to the average of 62 days for the whole 1963-2011 period.

The reason is that US oil demand actually peaked back at 21.7mbd in August 2005. Since the downturn began, it has never been above 19.7mbd. In September, it was 13% below the peak at just 18.8mbd

But, of course, a story that focused on lower demand, and comfortable inventory levels, would probably not produce too many positive headlines for prices.

Source: http://www.icis.com/blogs/chemicals-and-the-economy/2011/12/us-oil-inventories-remain-clos.html

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Synchronous double tumor of breast cancer and gastrointestinal stromal tumor in a patient with neurofibromatosis type 1: report of a case.

Bilateral synchronous breast carcinomas followed by a metastasis to the gallbladder: a case report.

Zagouri F, Sergentanis TN, Koulocheri D, Nonni A, Bousiotou A, Domeyer P, Michalopoulos NV, Dardamanis D, Konstadoulakis MM, Zografos GC. World J Surg Oncol. 2007 Sep 11; 5:101. Epub 2007 Sep 11.

Source: http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?tmpl=NoSidebarfile&db=PubMed&cmd=Retrieve&list_uids=22199319&dopt=Abstract

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Gary Johnson sets third-party pot bubbling as he quits GOP race

Former New Mexico Gov. Gary Johnson said Wednesday he is quitting the Republican primaries and will run for president as a Libertarian, highlighting the possibility a third-party candidate could impact the 2012 election.

Former New Mexico Gov. Gary Johnson said Wednesday that he is quitting the Republican primaries and will run for president as a Libertarian, highlighting the possibility a third-party candidate could play a role in deciding the 2012 presidential election.

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Governor Johnson was not a factor in the battle between Republican candidates now raging in Iowa. As a result of his meager performance in the polls, he was excluded from all but two of this year?s 15 Republican presidential debates.?

Barring a major surge in his appeal to voters, Johnson?s switch of party affiliation is not likely to have a major nationwide impact. The move could affect the results in the swing state of New Mexico. A Public Policy Polling (PPP) survey there found Johnson could draw 20 to 23 percent of the vote, insuring that President Obama would carry the state with 44 to 45 percent of the vote.

Beyond its implications in New Mexico, Johnson?s move increases the likelihood the 2012 presidential race will feature a stronger than usual third-party showing. Democratic strategist Stanley Greenberg recently predicted ?there is going to be a third party candidate? based on high levels of voter dissatisfaction. When Ross Perot made his third party run in 1992, ?those were happy times compared to now in terms of the mood of the country,? Greenberg said. ?

Greenberg?s view is that ?almost any third party helps Obama? by splintering the president?s opposition. He spoke at a recent Monitor-hosted breakfast for reporters.

Americans Elect is a major force helping boost the prospects for a stronger third-party movement. On its website, the group says its goal is ?to nominate a presidential ticket that answers directly to voters ? not the political system.? The non-partisan organization is now on the ballot in 13 states including California, Florida, Ohio, and Michigan, and signature collecting efforts are underway in 17 others. It has raised $22 million to date. Washington Post columnist Ruth Marcus recently wrote that Americans Elect is the ?political wild card for the Internet? age.

Another wild card is who Governor Johnson will have to battle for the Libertarian nomination. One possibility is that Rep. Ron Paul of Texas, who ran for president under the Libertarian banner in 1988, might seek to run on the Libertarian ticket if he does not land the Republican nomination. Congressman Paul has not definitively ruled out seeking the Libertarian nomination.

In a statement, Libertarian Party executive director Carla Howell welcomed Johnson to the party, saying he had ?an outstanding record for vetoing legislation? and ?has also proposed a substantial reduction in federal spending.? ?He also supports legalizing marijuana and abortion rights.?The Libertarian nominating convention is scheduled for May 5.?

Prior to his formal announcement at a Santa Fe press conference, Johnson sounded bitter about the Republican primary process. He told the Alamogordo Daily News that ?anyone who looks at what has happened would say I have been treated unfairly. I think I?ve been hung out to dry by the Republican Party.?

It is not clear whether life in a third party will be better. As the National Journal?s Hotline noted, the last time a third-party candidate was included in a general election debate was 1996, when Ross Perot was running on the Reform Party ticket.

Source: http://rss.csmonitor.com/~r/feeds/usa/~3/hMgGCCvwhyk/Gary-Johnson-sets-third-party-pot-bubbling-as-he-quits-GOP-race

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University of Cape Coast awards its retirees

Cape Coast, Dec, 25, GNA - The University of Cape Coast (UCC) on Wednesday honoured retired workers including 24 junior staff, 17 senior staff, and 12 senior members.

They were presented with sets of living room furniture and deep freezers for their meritorious service to the University.

Professor Naana Jane Opoku Agyemang, Vice Chancellor of UCC, said that the awards were to motivate active workers to work harder.

She commended the retirees for making strides in various fields to lift the image of the university.

Reverend Professor Emmanuel Adow Obeng, immediate past Vice Chancellor of UCC, on behalf of the retirees, expressed gratitude to the University and staff for the awards.

He said though most of the retirees joined the UCC when it was not financially sound, they worked hard to sustain the university.

GNA

Source: http://www.modernghana.com/news/368968/1/university-of-cape-coast-awards-its-retirees.html

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jmgall: #iMAME est retir?e de l?#Apple App Store http://t.co/pA2JydVk http://t.co/pKh6Lvyu #jeuxvid?o #t?l?phonesportables

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Lee Munson: When Finance Hijacked Our Economy

Lee Munson's book, Rigged Money: Beating Wall Street At Its Own Game, has just been published by Wiley & Sons. Here, he describes how we need to rethink capitalism.

Let me tell you about a time, long ago, when finance served a purpose. When people wanted to build a new house, they would go to their local community bank and request a loan. When a town wanted to build a road, they would issue a bond, with help from their local finance officer. When a business wanted extra money to grow, it would issue stocks on an exchange.

It sounds like a fairy tale in the days of total return swaps, Vanna Volga pricing, and Himalayan options (all real finance terms) but it's the truth.

Occupy Wall Street was able to hit the nerve, but may not have known it at the time. The protesters in Zuccotti Park and around the country demonized capitalism but largely ignored finance, the real name of the beast.

Look at the ads that Wall Street firms splash across financial magazines. They have one theme: We help businesses get richer with our financial skills. Really? You see, they have to spend millions to convince you they really are trying to help businesses when most of the profits are coming from proprietary trading and making bets with other traders. This way you, the uninformed public, will look like capitalist hating communists by raising any criticism of good-natured finance professionals just trying to keep America moving forward.

This is a lie. No one ever built a bridge from proprietary trading. Goldman bankers taking home a $5 million bonus doesn't do anything to prepare America for a globalized world. All financial activity is not the same - and it's O.K. to say that some is destructive and not own a copy of The Little Red Book.

So speak out. Demand financial companies return to their prime directive - helping American businesses grow and every day citizens prosper.

There will always be traders to provide liquidity and take the other side of financial transactions, but investment-banks need to pledge allegiance to capitalism. Like the French Foreign Legion, Wall Street is a motley bunch of the devil's rejects who are supposed to act as mercenaries for clients.

That is what I do for a living. I get paid when I protect my clients' capital and make sure they don't outlive their retirement savings. When the client is the investment-bank itself you have a rogue force with no allegiance, no focus, and no possibility to create anything but damage to the system.

We are fighting for the soul of the U.S. investor. Now is the time for finance to sign up to defend capitalism, not usurp it. Can we change the course? Yes we can.

Step 1: Make firms do what their ads say they do: help business grow with the aid of finance.

Step 2: Make firms admit what they do: finance, which does not save baby whales. Mercenaries are a necessary good, not evil, to help capitalism grow and provide jobs. When was the last time you saw a SEAL team get a medal for screwing up a mission?

Step 3: Admit to ourselves we love capitalism. I love my cat, too. It doesn't mean she loves me back, but it is what we have to work with. Don't let Wall Street trick you into thinking 2008 was anything but dereliction of duty.

Start there, and for good measure perhaps we should confiscate traders' Blackberrys. The last thing we need is this motley crew of financiers getting any bright ideas.

?

Source: http://www.huffingtonpost.com/lee-munson/how-to-retake-capitalism_b_1171216.html

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