Factbox: Chavez’s chosen successor Nicolas Maduro












CARACAS (Reuters) – President Hugo Chavez has named Vice President Nicolas Maduro as the heir of his self-styled socialist revolution should cancer force him out of office. He urged Venezuelans to vote for Maduro in the event of a snap election.


Here are some facts about Maduro:












* A former bus driver and trade unionist with Caracas public transport, the mustachioed Maduro, 50, has been foreign minister since 2006 and also was named vice president in October.


* As foreign minister, he has been a faithful ambassador of Chavez’s views, including often radical critiques of global affairs from a hard left-wing stance.


* Maduro has won plaudits from foreign diplomats for his affable, easygoing manner. “He’s the smoothest and least prickly of all the top Chavistas to deal with,” one European envoy said.


* Maduro has been increasingly close to Chavez since his first cancer diagnosis in mid-2011, often at his side in Havana and giving brief updates to Venezuelans, although without giving away too many details of his boss’s condition.


* Maduro’s trade union background appeals to Chavez’s working-class supporters and he is highly respected among the president’s inner circle. Past polls have shown that opposition leader Henrique Capriles would beat him in an election but analysts say that could change in a new electoral scenario given that Maduro would have Chavez’s blessing.


* Maduro was elected in 2000 as a deputy to the National Assembly, where his combative defense of Chavez’s policies made him one of the president’s favored protégés.


* He rose to become president of the legislature, and upon becoming foreign minister passed his previous post to his wife, Cilia Flores, a lawyer who became the first woman to serve as National Assembly president, between 2006 and 2011.


* When Chavez was sent to prison following his failed coup attempt in 1992, it was Flores who led the legal team that won his freedom two years later. She now serves as the country’s attorney general. She and Maduro are seen as a “power couple” in government circles.


* Chavez’ endorsement of Maduro has sidelined ambitions of other powerful Socialist Party figures such as Diosdado Cabello, who was widely considered a candidate for the top job in the future. Cabello, a military man with close ties to the armed forces and business, is not as well liked as Maduro among Venezuelans. He immediately pledged loyalty to both Chavez and the vice president after Chavez made his announcement.


(This story removed extraneous word from the first paragraph)


(Editing by Bill Trott)


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As “fiscal cliff” nears, market complacency sets in












NEW YORK (Reuters) – Like many on Wall Street, investor Todd Petzel cringed when U.S. Treasury Secretary Timothy Geithner said this past Wednesday that he was ready to let the economy go over the “fiscal cliff” if Republicans would not agree to higher tax rates on the rich.


“I didn’t think good things would come out of the comment,” said Petzel, the chief investment officer at Offit Capital Advisors in New York. “But nothing happened.”












The rhetoric heated up again on Friday, when Republican House Speaker John Boehner accused President Barack Obama of “slow-walking” the economy to the edge of the cliff. Again, markets brushed it off and showed very little reaction.


Investors’ collective shrug marks a stark change from how they had behaved in the two weeks after the presidential election, when nearly every utterance from a politician about the looming budget crisis caused wild swings in stock prices.


The S&P 500 index has nearly retraced the 5.3 percent slide it suffered in the first seven sessions after the November 6 vote. Some of the rebound reflects market confidence that Democrats and Republicans, despite their rhetoric, will eventually agree on at least a short-term deal to avoid the cliff – nearly $ 600 billion of tax increases and spending cuts set to take effect in January that could bring on a new recession.


It also could be that investors have peered over the cliff and realized they are looking at a gentle slope instead.


“The sentiment has definitely changed,” said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co in New York. “The market has become somewhat desensitized to headlines out of Washington because the fear of the economy hitting a wall in 2013 if we don’t get a deal done has diminished.”


While the S&P 500 was on track to end the first week of December nearly flat, performance throughout November was far more volatile, with the index lurching from a loss of more than 2 percent one week to a gain of more than 3 percent the next. The benchmark ended the month 0.3 percent higher.


“Seasoned investors know that waiting on the sidelines for clarity about fiscal negotiations is not an option,” Carmine Grigoli, chief investment strategist at Mizuho Securities, wrote this week in a note to clients.


“In our view, the worst case outcomes are likely to be avoided and the stock market should rise by 5 percent to 7 percent once the risk of fiscal Armageddon is behind us.”


SENTIMENT HAS CHANGED


Not everyone is brushing off the risks entirely. Investors could be too sanguine and the end of the year could come without a deal. The market could yet lurch downward, repeating the big sell-offs that occurred during the 2011 debt ceiling talks.


But while chief executives have complained that not knowing what future taxes will be has suppressed investment and hiring, some investors say lawmakers still have time in early 2013 to strike a deficit-reduction deal without imperiling the economy.


Michael Fredericks, lead manager of the BlackRock Multi-Asset Income Fund, said the recent malaise may simply be “a little bit of fatigue” setting in.


“This short-termism and parsing the language that comes out of the mouths of politicians is getting a little old. People are stepping back and saying: ‘How can I possibly make an investment decision based on the next press release or TV appearance by the latest senior Republican or Democrat?’”


One indicator of the market’s reduced concern is the defense sector, which will be hit hard if the spending cuts take effect. The PHLX Defense Sector Index is up 13 percent for the year, and sits just a few points from a yearly high.


The CBOE Volatility index, Wall Street‘s so-called fear gauge that tends to move inversely to the S&P 500, has slipped about 2 percent since November 1.


“Lately, we’ve just started seeing some small upticks in VIX futures. But it’s not like someone is coming into the market to buy a whole lot. It’s just nibbling here and there, which shows that there isn’t too much concern out there about the fiscal cliff,” said J.J. Kinahan, chief derivatives strategist at the brokerage TD Ameritrade in Chicago.


A survey of 62 Wall Street money managers released on December 5 showed market losses would be manageable if the U.S. goes over the fiscal cliff, even though worries still run deep.


Conducted by the Washington-based Potomac Research Group, the survey showed more than 60 percent expected the Dow Jones industrial average to fall 10 percent or more if a deal is not reached by year end. That would put the blue chip index below the 12,000 level.


Petzel called that 10 percent estimate “plausible,” adding that the market’s newfound calm about the cliff was more to do with the “numbness that comes from watching every moment of a blow-by-blow negotiation” than with a lack of concern.


The good news is that such a sharp drop likely will convince Republicans and Democrats to find common ground. That, he said, is what happened in the past few years to European policymakers, who saw markets sell off when they were slow to address an ongoing debt crisis.


“Then they realize, ‘Oh, this is a big deal, we should get it right.’ And so they would do something – not a lot – but something that the market could hang its hat on, and that would spark a rebound.”


(Reporting by Angela Moon and Steven C. Johnson; Editing by Tiffany Wu and Bill Trott)


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Election underscores Ghana’s democratic reputation












ACCRA, Ghana (AP) — Voters in Ghana selected their next president Friday in a ballot expected to mark the sixth transparent election in this West African nation, known as a beacon of democracy in a tumultuous region.


Proud of their democratic heritage, residents of this balmy, seaside capital trudged to the polls more than four hours before the sun was even up, standing inches apart in queues that in some places stretched 1,000-people deep.












By afternoon, some voters were getting agitated, after hitches with the use of a new biometric system caused delays at numerous polling stations.


Each polling station had a single biometric machine, and if it failed to identify the voter’s fingerprint, or if it broke down, there was no backup. At one polling station where the machine had broken down, a local chief said he’d barely moved a few inches: “I’m 58 years old, and I’ve been standing in this queue all day,” Nana Owusu said. “It’s not good.”


Late Friday, when it became clear that large numbers of people had not been able to vote, the election commission announced it would extend voting by a second day. This nation of 25 million is, however, deeply attached to its tradition of democracy, and voters were urging each other to remain calm while they waited their turn to choose from one of eight presidential contenders, including President John Dramani Mahama and his main challenger, Nana Akufo-Addo. The election commission


“Elections remind us how young our democracy is, how fragile it is,” said author Martina Odonkor, 44. “I think elections are a time when we all lose our cockiness about being such a shining light of democracy in Africa, and we start to get a bit nervous that things could go back to how they used to be.”


Ghana was once a troubled nation that suffered five coups and decades of stagnation, before turning a corner in the 1990s. It is now a pacesetter for the continent’s efforts to become democratic. No other country in the region has had so many elections deemed free and fair, a reputation voters hold close to their hearts.


The incumbent Mahama, a former vice president, was catapulted into office in July after the unexpected death of former President John Atta Mills. Before becoming vice president in 2009, the 54-year-old served as a minister and a member of parliament. He’s also written an acclaimed biography, recalling Ghana’s troubled past, called “My First Coup d’Etat.”


Akufo-Addo is a former foreign minister and the son of one of Ghana’s previous presidents. In 2008, Akufo-Addo lost the last presidential election to Mills by less than 1 percent during a runoff vote. Both candidates are trying to make the case that they will use the nation’s oil riches to help the poor.


Besides being one of the few established democracies in the region, Ghana also has the fastest-growing economy. But a deep divide still exists between those benefiting from the country’s oil, cocoa and mineral wealth and those left behind financially.


A group of men who had just voted gathered at a small bar a block away from a polling station in the middle class neighborhood of South Labadi. Danny Odoteye, 36, who runs the bar, said that the country’s economic progress is palpable and that the ruling party, and its candidate, are responsible for ushering in a period of growth.


“I voted for John Mahama,” he said. “Ghana is a prosperous country. Everything is moving smoothly.”


Administrator Victor Nortey, sitting on a plastic chair across from him, disagreed, saying the country’s newfound oil wealth should have resulted in more change.


“I voted for Nana Akufo-Addo,” He said. “Now we have oil. What is Mahama doing with the oil money?” Nortey said. “We can use that money to build schools.”


In an interview on the eve of the vote, Akufo-Addo told The Associated Press that the first thing he will do if elected is begin working on providing free high school education for all. “It’s a matter of great concern to me,” he said, adding that he plans to use the oil wealth to educate the population, industrialize the economy and create better jobs for Ghanaians.


Policy-oriented and intellectual, Akufo-Addo is favored by the young and urbanized voters. He was educated in England and comes from a privileged family. The ruling party has depicted him as elitist.


“The idea that merely because you are born into privilege that automatically means you are against the welfare of the ordinary people, that’s nonsense,” he said.


Ghana had one of the fastest growing economies in the world in 2011. Oil was discovered in 2007 and the country began producing it in December 2010.


Throughout the capital, new condominiums are rising up next to slums and luxury cars creep along narrow alleys lined with open sewers. A mall downtown features a Western-style cinema and is packed on weekends with middle class families. At the same time shantytowns are cropping up, packed with the urban poor.


Polls show that voters are almost evenly split over who can best deliver on the promise of development.


Kojo Mabwa said that he is voting for Akufo-Addo, because he is impressed by his promise of free education. He dismissed critics that say the project is too ambitious. “There is money,” he said. “(The ruling party) has done nothing for us. They are misusing our money.”


Paa Kwesi, a 30-year-old systems analyst, said he doesn’t think Akufo-Addo is making promises he can keep.


“He says he can do free education, but you have to crawl before you can walk. It’s not possible,” he said.


__


Associated Press writer Francis Kokutse contributed to this report from Accra, Ghana.


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FCC chairman urges FAA to revise in-flight iPad rules












No, it doesn’t make any sense that you have to turn off your iPad or Kindle during airplane landings, and now the chairman of the Federal Communications Commission wants to see that change. In a letter to the Federal Aviation Administration, FCC chairman Julius Genachowski urged the agency to “enable greater use of tablets, e-readers, and other portable devices” on flights, The Hill reports. Genachowski went on to say that letting passengers use their devices more during flights is important because “mobile devices are increasingly interwoven in our daily lives” and that they “enable both large and small businesses to be more productive and efficient, helping drive economic growth and boost U.S. competitiveness.”


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Springsteen, Alabama Shakes top Rolling Stone’s 2012 best music












LOS ANGELES (Reuters) – Veteran rocker Bruce Springsteen and newcomer blues-rock band Alabama Shakes landed the top awards in Rolling Stone magazine‘s annual list of the year’s best music on Friday, which featured many of next year’s leading Grammy nominees.


Springsteen‘s 17th studio album “Wrecking Ball” topped the magazine’s list of best albums, with the magazine calling it “rock’s most pointed response to the Great Recession.”












Springsteen, 63, came in ahead of hip hop artist Frank Ocean‘s debut “Channel Orange” at No. 2 and former White Stripes front man Jack White‘s debut solo effort, “Blunderbuss” at No. 3, in the annual list selected and compiled by Rolling Stone editors.


Springsteen, Ocean and White all landed Grammy nods, which were announced earlier this week.


The rest of the top ten albums included Bob Dylan’s “Tempest,” Green Day’s “¡Uno!,” Neil Young and Crazy Horse’s “Psychedelic Pill,” Kendrick Lamar’s “good kid, m.A.A.d city” and Fiona Apple‘s “The Idler Wheel is Wiser…”


“Hold On” by newcomer blues-rockers Alabama Shakes was named the top song of the year, beating off popular tracks by Ocean, White, Springsteen, Dylan and Kanye West in the top 10.


While both the albums and songs lists were dominated by rock and rap artists both old and new, country-pop star Taylor Swift was a surprising entry at No. 2 on the best songs list with her infectious chart-topping hit song “We Are Never Ever Getting Back Together.”


Rolling Stone described the song, which landed a Grammy nod for record of the year, “a perfect three-minute teen tantrum about country girls getting mad at high-strung indie boys.”


Pop-rockers Passion Pit’s “Take a Walk,” Ocean’s “Thinkin Bout You” and Young and Crazy Horse’s “Ramada Inn” rounded out the top five songs.


Rolling Stone‘s full list of 2012′s 50 best albums can be viewed at http://www.rollingstone.com/music/lists/50-best-albums-of-2012-20121205 and the 50 best songs at http://www.rollingstone.com/music/lists/50-best-songs-of-2012-20121205


(Reporting by Eric Kelsey, Editing by Piya Sinha-Roy and Andrew Hay)


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S.Africa’s Mandela admitted to hospital for tests












JOHANNESBURG (Reuters) – Former South African president Nelson Mandela was admitted to hospital on Saturday for medical tests, although the government said there was no cause for alarm.


A statement from President Jacob Zuma‘s office gave no details of the condition of the 94-year-old anti-apartheid leader.












Former President Mandela will receive medical attention from time to time which is consistent with his age,” the statement said.


President Zuma assures all that Madiba is doing well and there is no cause for alarm,” it added, referring to Mandela by his clan name.


Mandela, who became South Africa‘s first black president after the country’s first all-race elections in 1994, was admitted to hospital in February because of abdominal pain but released the following day after a keyhole examination showed there was nothing seriously wrong with him.


He has since spent most of his time in his ancestral home in Qunu, a village in the impoverished Eastern Cape province.


His frail health prevents him from making any public appearances in South Africa, although in the last few months he has continued to receive high-profile visitors, including former U.S. President Bill Clinton.


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Obama says he’s ready to work with Republicans to avoid “fiscal cliff”












WASHINGTON (Reuters) – President Barack Obama, accused by Republican House Speaker John Boehner of pushing the country toward the “fiscal cliff,” said on Saturday he was ready to work with congressional Republicans on a comprehensive plan to cut budget deficits as long it included higher taxes on the wealthy.


Obama is battling Republican lawmakers over how to avoid the combination of sharp tax hikes and spending cuts set to kick in early next year that could plunge the economy back into recession.












In his weekly radio address, the president renewed his call for Republicans to extend middle-class tax cuts while letting tax rates go up for the wealthy. He also said he would be willing to find ways to bring down healthcare costs and make additional cuts to government social safety-net programs.


“We can and should do more than just extend middle-class tax cuts,” he said. “I stand ready to work with Republicans on a plan that spurs economic growth, creates jobs and reduces our deficit – a plan that gives both sides some of what they want.”


Republicans have balked at tax rate increases, which they say would hurt small businesses and brake economic growth.


With three weeks left to avert the fiscal crunch, Boehner said on Friday the administration had adopted a “my way or the highway” approach and was engaging in reckless talk about going over the “fiscal cliff.


But Obama said his re-election last month and Democratic gains in both houses of Congress showed decisive support for his approach.


“After all, this was a central question in the election,” he said. “A clear majority of Americans – Democrats, Republicans and Independents – agreed with a balanced approach that asks something from everyone, but a little more from those who can


Boehner and the House leadership submitted their terms for a deal to the White House on Monday, after Obama offered his opening proposal last week.


The plans from both sides would cut deficits by more than $ 4 trillion over the next 10 years but differ on how to get there. Republicans want more drastic spending cuts in “entitlement programs” like the Medicare healthcare program for the elderly, while Obama wants to raise more revenue with tax increases and to boost some spending to spur the sluggish economy.


(Editing by Peter Cooney)


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Ghana election, test of democratic reputation












ACCRA, Ghana (AP) — Voters in Ghana were selecting their next president and a 275-seat parliament in elections Friday, solidifying the West African nation‘s reputation as a beacon of democracy in the region.


Some 14 million people are expected to turn out. President John Dramani Mahama, in office for only five months, is running against seven contenders. A former vice president, Mahama became president in July after the unexpected death of former President John Atta Mills. The 54-year-old is also a former minister and parliamentarian and has written an acclaimed biography, “My First Coup d’Etat.”












His main challenger is Nana Akufo-Addo, a former foreign minister and the son of one of Ghana’s previous presidents. The contender lost the 2008 election to Mills by less than 1 percent. Both men are trying to make the case that they will use the nation’s newfound oil wealth to help the poor.


Ghana, a nation of 25 million, is one of the few established democracies in the region as well as the fastest-growing economy. But a deep divide still exists between those benefiting from the country’s oil, cocoa and mineral wealth and those left behind financially.


In an interview on the eve of the vote, Akufo-Addo told The Associated Press that the first thing he will do if elected is begin working on providing free high school education for all. “It’s a matter of great concern to me,” he said, adding that he plans to use the nation’s oil wealth to educate the population, industrialize the economy and create better jobs for Ghanaians.


Policy-oriented and intellectual, Akufo-Addo is favored by the young and urbanized voters. He was educated in England and comes from a privileged family. The ruling party has depicted him as elitist, which Akufo-Addo calls “a little PR construct.”


“The idea that merely because you are born into privilege that automatically means you are against the welfare of the ordinary people, that’s nonsense,” he said.


Ghana had one of the fastest growing economies in the world in 2011. Allegations of corruption against the ruling party are rife.


Akufo-Addo said that if elected, he would not be able to weed out corruption in the government overnight.


“It’s a long fight,” he said. “But we build the institutions that can fight it.”


He said that in 30 years in politics he has never been accused of corruption.


Many analysts believe Mahama and Akufo-Addo are neck-and-neck.


Results are expected to be announced by Sunday, but could be delayed. If no one wins an absolute majority, a second round of voting will be held on December 28.


All candidates have signed a peace pact and have promised to accept the results of Friday’s poll.


Ghana, a nation of 25 million, has previously held five transparent elections in a row. Nearby Mali, which was also considered a model democracy, was plunged into chaos this March following a military coup.


__


Associated Press writer Francis Kokutse contributed to this report from Accra, Ghana.


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“Dancing with the Stars” Burke says voice fine after thyroid surgery












LOS ANGELES (Reuters) – “Dancing with the Stars” co-host Brooke Burke said on Thursday that her surgery for thyroid cancer had gone well and that she had not lost her voice.


“Thank God it’s over. I’m clean, surgery went well & I can talk. Losing my voice was my biggest fear. Thx for all your prayers & light,” Burke said in a Twitter posting.












Burke, 41, a former winner of ABC-TV’s popular celebrity ballroom dancing competition, announced in November that she had been diagnosed with thyroid cancer.


The surgery took place just over a week after the season finale of “Dancing with the Stars” on November 27. The mother of four has said it will leave her with a large scar across her neck.


The thyroid is a gland in the neck that produces hormones that regulate vital body functions, such as heart rate and blood pressure.


(Reporting By Jill Serjeant; editing by Philip Barbara)


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Aspirin may help older colon cancer patients live longer












NEW YORK (Reuters Health) – Older adults with colon cancer who were prescribed a daily aspirin were less likely to die than those who weren’t, according to a new study.


While the results need to be confirmed with more rigorous studies, they add to the evidence linking aspirin use to longer survival for cancer patients. Studies have also suggested the inexpensive drug can prevent some types of the disease from occurring in the first place.












Medical guidelines currently endorse the use of low-dose aspirin to prevent heart disease, but not to fight or prevent cancer.


The new study, published in the Journal of the American Geriatrics Society, included more than 500 colon-cancer patients in the Netherlands aged 70 and older. More than 100 were prescribed daily low-dose “baby” aspirin for heart protection after their cancer diagnosis.


Between 1998 and 2007, the death rate for those prescribed aspirin was about half that of the non-aspirin users. The effect was biggest in people with more advanced cancer and in those who received no chemotherapy.


Anything that might improve survival in elderly adults with colon cancer would be welcome, since there is no consensus on whether to use chemotherapy in those patients, according to the study.


Previous studies have also associated aspirin use with increased survival. Research published in October in the New England Journal of Medicine suggested that aspirin therapy could extend survival for colon cancer patients whose tumors had a specific genetic mutation.


Still, more scientifically rigorous randomized controlled trials will be needed to confirm the findings of studies that are based on observation after the fact, and therefore less definitive about what actually causes the effect seen.


“We’re pretty sure this is a real effect, but we’re not sure of the magnitude,” said Dr. Gerrit Jan Liefers of Leiden University Medical Center in the Netherlands, an author of the new study. He said he didn’t expect randomized trials would show such a large survival advantage. Liefers is working to develop such a trial in the Netherlands.


One limitation of the study is that it looked at aspirin prescriptions, not actual use of the drug. (Low-dose aspirin for heart-disease protection isn’t available over the counter in the Netherlands.) It’s possible that heart benefits from aspirin might have helped the patients live longer, but the study authors said that alone couldn’t account for the big difference in death rates. Also, there might be differences between the groups unaccounted for by researchers that led to the improved survival among the aspirin users.


Liefers said it’s not completely clear how aspirin might combat colon cancer. One likely route: blocking the enzyme cyclooxygenase-2, or COX-2, which is involved in inflammation and is expressed in about 70 percent of colon tumors.


Boris Pasche, director of the hematology and oncology division at the University of Alabama at Birmingham, said it would be helpful to figure out who would benefit from and who could skip daily aspirin.


“It’s a fairly benign drug, but it has side effects,” including bleeding in the gastrointestinal tract and the brain, Pasche said.


He said patients should discuss with their physicians whether it makes sense to take aspirin at this point. “This supports the concept, but we need a prospective randomized trial,” he said.


SOURCE: http://bit.ly/TFEnSF Journal of the American Geriatrics Society, online November 23, 2012.


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