Fuel rise axed as economy worsens

5 December 2012 Last updated at 10:02 ET

George Osborne: “There will be no fuel tax rise this January”

Chancellor George Osborne has scrapped a planned 3p rise in fuel duty, but benefits face a further squeeze as he admitted the UK economy was struggling.

There will be more money for roads, London’s Underground and schools, but councils were warned of cuts to come.

Austerity measures will be extended to 2018, as debt-cutting targets are missed, his Autumn Statement revealed.

“Turning back now would be a disaster” for the UK, he said. But Labour said his economic plans were “in tatters”.

Mr Osborne had said debt would start falling as a proportion of GDP by 2015/16 – the year of the next general election.

But he has been forced to delay that target by a year because of the worse than expected state of the economy, which is now expected to shrink this year by 0.1%.

The Office for Budgetary Responsibility says the UK has a “better than 50% chance of eliminating the structural current deficit in five years time”, said the chancellor – meaning his other key objective has been pushed back by a year to 2017/18.

This move heralds a fresh benefits squeeze and a raid on the pensions of the wealthy.

‘In this together’

Most working age benefits, such as Jobseekers Allowance and Child Benefit, will be go up by 1%, less than the rate of inflation, for the next three years.

Continue reading the main story

What is the Autumn Statement?

• One of the two major statements the chancellor has to make to Parliament every year


• Since 1997 the main Budget – which contains the bulk of tax, benefit and duty changes – has been in the spring before the start of the tax year in April


• The second statement has tended to focus on updating forecasts for government finances


• Over the past few years this distinction has become blurred, with the Autumn Statement becoming more of a mini Budget


• Under the last Labour government it was called the pre-Budget report

And there will be a further cut in tax relief on large pension pots, saving £1bn a year.

He told MPs: “I know these tax measures will not be welcomed by all; ways to reduce the deficit never are. But we must show we’re all in this together. When you’re looking for savings, I think it’s fair to look at the tax relief we give to the top 2%.”

Income tax personal allowances will go up by £1,335 – £235 more than previously announced – so no tax will be paid on earnings under £9,440.

The threshold for the 40% rate of income tax is to rise by 1% in 2014 and 2015 from £41,450 to £41,865 and then £42,285.

The basic state pension will rise by 2.5% next year to £110.15 a week.

Mr Osborne announced a fresh crackdown on tax avoidance and a squeeze on Whitehall budgets to pay for a new road and school building programme.

He told MPs: “It’s taking time, but the British economy is healing.”

But Shadow Chancellor Ed Balls, for Labour, accused Mr Osborne of breaking his own rules on falling debt on which his credibility depended.

“Today after two and a half years we can see, and people can feel in the country, the true scale of this government’s economic failure,” Mr Balls told MPs,

He said the average family with children on £20,000 a year would be “worse off” – even with the personal allowance changes.

Continue reading the main story

“Start Quote

At a time when his critics – and Ed Balls in particular – are able to say “I told you so”, George Osborne looked and sounded confident whilst the shadow chancellor looked the reverse.”

End Quote

Mr Balls claimed Mr Osborne’s plan to raise £1bn from pension tax relief on the well-off raised less than £1.6bn given away in Mr Osborne’s first Budget on the same reliefs.

CBI director general John Cridland welcomed the promised investment in infrastructure and new tax relief measures for small firms but said businesses now “need to see the chancellor’s words translated into building sites on the ground”.

“It is no surprise that after a difficult year the economic realities dictate that austerity and debt reduction will take longer,” he added.

“The chancellor has stuck to his guns on deficit reduction – avoiding deeper cuts or more borrowing in order to retain international credibility.”

But TUC general secretary Brendan Barber said: “What is missing today is any vision of a future economy that can deliver decent jobs and living standards – it’s pain without purpose.”

He added: “When you are self-harming you should stop, not look for better sticking plasters.”

BBC News – Business

Read More..

Sri Lanka see backlash from Aussie ‘wounded soldiers’

(Reuters) – Sri Lanka captain Mahela Jayawardene has warned his team to be wary of a backlash from Australia in their three-test series after the hosts were stung by their series defeat to South Africa earlier this week.

Australia’s hopes of snatching the Proteas’ top test ranking ended in a crushing 309-run defeat in the third and final test in Perth on Monday, but Jayawardene took little comfort from the home side’s disappointment.

“I see them as wounded soldiers – they could come back stronger against us,” Jayawardene told reporters in Canberra on Wednesday, on the eve of a three-day tour match against a Chairman’s XI side.

“So we just need to make sure we are ready for that and start well.

“We can’t be complacent – we need to make sure we know from ball one we give them a good go at it.”

Sri Lanka have their own problems coming into the first test at Hobart next week, losing their last test at home to New Zealand by 167 runs to level a two-match series 1-1, with key batsmen out of form.

Kumar Sangakkara scored five, nought and 16 in his three innings against New Zealand, but Jayawardene backed the veteran to bounce back in Sri Lanka’s bid to win their first test Down Under.

“I am happy that he went through a lean phase because he’ll be really hungry for runs – that’s Kumar for you,” Jayawardene said of the 35-year-old stalwart.

Jayawardene also said he would weigh up his future as captain after the series, which includes tests in Melbourne and Sydney, after taking on the role for a second time in the wake of Tillakaratne Dilshan’s sudden resignation in January.

“After this, we get a well-deserved four weeks off, after about three years, so it gives me a bit of time to think (about) what I need to do,” said Jayawardene, who captained the team for more than three years in his first stint from 2006.

“We need to groom another leader as well. It’s very important to have that changeover done smoothly while the senior players are still in the side.”

Australia / Antarctica News Headlines – Yahoo! News

Read More..

Austrian farmers dip into Internet “milking” craze

VIENNA (Reuters) – Dumping a bottle of milk over your head and filming it for a video post on the Internet has become a popular youth craze, but Austrian farmers say the spillage is a crying shame.

“Milking”, as the trend is known, is among a variety of tongue-in-cheek stunts in which young people shoot pictures or videos of themselves posing as owls, planks of wood, or famous people and then share them on YouTube and other social media.

Austria’s AMA farm lobby on Wednesday launched its own “true milking” campaign to decry the wanton waste of dairy resources and to encourage consumers to drink it instead.

“At a time when too much food already lands in the trash, it is worth questioning dumping milk. This is a valuable product of nature that our farmers provide daily with lots of love and labor,” AMA milk marketing manager Peter Hamedinger said.

Milking has become an Internet hit, with one video from Newcastle in England getting more than half a million clicks on YouTube. http://www.youtube.com/watch?v=qtJPAv1UiAE

AMA’s marketing arm said the milking craze seemed to reflect a strange youthful protest against authority. It sought to one-up the video trend with its own clip featuring a young man who holds a carton of milk high above his head and drinks the contents without spilling a drop.

http://www.youtube.com/watch?v=EsJ3OsP1Fks&feature=youtu.be

“In line with the nature of the medium, this message is not communicated in a commercial way and absolutely not with finger pointing, but rather with a wink of the eye for the Internet generation,” the farm products board said in a statement.

(Reporting by Michael Shields, editing by Paul Casciato)

Internet News Headlines – Yahoo! News

Read More..

And the most overpaid actor award goes to: Eddie Murphy

NEW YORK (Reuters) – Eddie Murphy was once among Hollywood’s top box office draws, but he now has the dubious honor of being crowned its most overpaid actor, according to Forbes magazine.

In its annual list, determined by the misalignment between star salaries and their films’ box office take, Murphy, once a one-man gold mine with 1980s hits such as “Trading Places” and “Beverly Hills Cop”, displaced Drew Barrymore for the top spot.

“Murphy‘s career has just collapsed,” Forbes said, citing such recent box office bombs as “Imagine That”, “A Thousand Words” and “Meet Dave”.

Weighing box office receipts against paychecks, Forbes calculated that for every dollar Murphy was paid for his last three films, they returned an average of just $ 2.30 at the box office. Murphy placed second on the list a year ago.

Popular actresses such as Katherine Heigl, and Oscar winners Reese Witherspoon and Sandra Bullock, made the top five, with “returns” ranging from $ 3.40 to $ 5.

Forbes took issue with Witherspoon’s “questionable” choices such as the star-laden, James L. Brooks romantic comedy “How Do You Know”, which was one of 2010′s worst-performing films. It cost $ 120 million, much of which went toward star salaries, but grossed a paltry $ 49 million.

The cast included two-time Oscar winner Denzel Washington, as well as actors generally considered solid at the box office such as Adam Sandler and Ben Stiller.

“Washington‘s films do fine at the box office but he can demand an outsized paycheck on those movies,” Forbes noted. His current hit “Flight” was not included for this year’s list.

Washington‘s return was the same $ 6.30 calculated for Sandler, whose comedies Forbes said were consistent performers — except when they’re not, such as the disappointing “Jack and Jill”.

It was the same with Stiller, whom Forbes said “earns so much money per film that one miss can make him seem overpaid. That’s what happened with “Tower Heist”, in which the actor co-starred with — Eddie Murphy.

Will Ferrell, who topped the list for two of the last four years and came in third a year ago, didn’t place.

The full list can be found at www.forbes.com/overpaidactors.

(Reporting by Chris Michaud; editing by Patricia Reaney and Andrew Hay)

Celebrity News Headlines – Yahoo! News

Read More..

EU health officials fear for disease control in Greece

LONDON (Reuters) – Greek hospitals are in such dire straits that staff are failing to keep up basic disease controls like using gloves and gowns, threatening a rise in multi-drug-resistant infections, according to Europe‘s top health official.

Greece already has one of the worst problems in Europe with hospital-acquired infections, and disease experts fear this is being made worse by a severe economic crisis that has cut health care staffing levels and hurt standards of care.

With fewer doctors and nurses to look after more patients, and hospitals running low on cash for supplies, risks are being taken even with basic hygiene, said Marc Sprenger, director of the European Centre for Disease Prevention and Control (ECDC).

“I have seen places…where the financial situation did not allow even for basic requirements like gloves, gowns and alcohol wipes,” Sprenger said after a two-day trip to Athens, where he visited hospitals and other healthcare facilities.

“We already knew Greece is in a very bad situation regarding antibiotic resistant infections, and after visiting hospitals there I’m now really convinced we have reached one minute to midnight in this battle,” he told Reuters in an interview.

Sprenger said the situation means patients with highly-infectious diseases like tuberculosis (TB) may not get the treatment they need, raising the risk that dangerous drug-resistant forms will tighten their grip on Europe.

Greece spends 11 billion euros ($ 14.4 billion) a year on its healthcare system – accounting for just over 5 percent of its total economic output. The government says the system is around 2 billion euros in debt and spending must be cut drastically.

Many health workers have lost their jobs and others say they have not been properly paid for months. A banner hung up by doctors outside Athens Evangelismos hospital in October said simply: “The health system is bleeding.”

Exhausted doctors at Greece’s 133 state hospitals cite a lack of staff as well as basic supplies such as cotton wool, catheters, gloves and paper used to cover examination beds.

Panos Papanicolaou, a member of a doctors’ union and a neurosurgeon at Athens’ Nikea General Hospital, said staff cuts mean as many as 90 to 100 patients a day wait in corridors with many unable to get treatment. In the chaos, some go untreated or come back again when they are far more seriously ill.

He said overworked nurses often treat twice as many patients as before and confirmed that the shortage of basic items like disposable gloves meant corners were having to be cut.

“If a nurse has to see 10 patients instead of five without disposable gloves it’s certain that the transmission of infections will rise rapidly,” he said.

Greece could soon face even more problems with its health care system if it runs out of money to buy drugs.

Another health official who asked to remain anonymous said a senior Athens hospital worker had told him there was no budget left for supplies at that hospital, so all its drug purchases were on credit.

Germany’s Merck KGaA said last month it was no longer delivering its cancer drug Erbitux to Greek hospitals [ID:nL5E8M30ZL], and Biotest, which makes products from blood plasma to treat hemophilia and tetanus, stopped shipments in June because of unpaid bills. [ID:nL5E8HG3DA]

Roberto Bertollini, the World Health Organisation’s chief scientist and representative to the European Union, told Reuters he too was worried about the rate of hospital-acquired infections in Greece. He said cuts to resources and staff only make it harder to adhere to infection control and hygiene rules.

“Countries have to be very careful when..choosing what to cut and what to keep,” he said. “This is a very serious business which might impact the health of the population much more in the medium term, thus increasing rather than decreasing costs.”

Greece’s problems with drug resistant infections predate the economic crisis: Greece is Europe’s highest user of antibiotics, and health experts say overuse of antibiotics is one of the main causes of drug resistant disease.

Sprenger’s ECDC warned last month that infections caused by a bug called K. pneumonia and resistant to the very last line of antibiotics is “high and increasing in some EU countries”.

“It’s no longer a risk, it’s already very bad – the challenge is to turn that around,” Sprenger said. “But you can only focus properly on this if you are not overloaded with patients.”

($ 1 = 0.7650 euros)

(Additional reporting by Karolina Tagaris in Athens; Editing by Peter Graff)

Diseases/Conditions News Headlines – Yahoo! News

Read More..

Officials: NATO to decide on missiles for Turkey

BRUSSELS (AP) — NATO foreign ministers are expected to approve Turkey‘s request for Patriot anti-missile systems to bolster its defense against possible strikes from neighboring Syria.

NATO foreign ministers are meeting on Tuesday and Wednesday in Brussels. Parliaments in both nations must approve the deployment, which would also involve several hundred soldiers.

Ankara, which has been highly supportive of the Syrian opposition, wants the Patriots to defend against possible retaliatory attacks by Syrian missiles carrying chemical warheads. NATO leaders have repeatedly said they would provide any assistance Turkey needs.

Europe News Headlines – Yahoo! News

Read More..

Swiss spy agency warns U.S., Britain about huge data leak

ZURICH (Reuters) – Secret information on counter-terrorism shared by foreign governments may have been compromised by a massive data theft by a senior IT technician for the NDB, Switzerland‘s intelligence service, European national security sources said.

Intelligence agencies in the United States and Britain are among those who were warned by Swiss authorities that their data could have been put in jeopardy, said one of the sources, who asked for anonymity when discussing sensitive information.

Swiss authorities arrested the technician suspected in the data theft last summer amid signs he was acting suspiciously. He later was released from prison while a criminal investigation by the office of Switzerland’s Federal Attorney General continues, according to two sources familiar with the case.

The suspect’s name was not made public. Swiss authorities believe he intended to sell the stolen data to foreign officials or commercial buyers.

A European security source said investigators now believe the suspect became disgruntled because he felt he was being ignored and his advice on operating the data systems was not being taken seriously.

Swiss news reports and the sources close to the investigation said that investigators believe the technician downloaded terrabytes, running into hundreds of thousands or even millions of printed pages, of classified material from the Swiss intelligence service’s servers onto portable hard drives. He then carried them out of government buildings in a backpack.

One of the sources familiar with the investigation said that intelligence services like the U.S. Central Intelligence Agency and Britain’s Secret Intelligence Service, also known as MI6, routinely shared data on counter-terrorism and other issues with the NDB. Swiss authorities informed U.S. and British agencies that such data could have been compromised, the source said.

News of the theft of intelligence data surfaced with Switzerland’s reputation for secrecy and discretion in government and financial affairs already under assault.

Swiss authorities have been investigating, and in some cases have charged, whistleblowers and some European government officials for using criminal methods to acquire confidential financial data about suspected tax evaders from Switzerland’s traditionally secretive banks.

The suspect in the spy data theft worked for the NDB, or Federal Intelligence Service, which is part of Switzerland’s Defense Ministry, for about eight years.

He was described by a source close to the investigation as a “very talented” technician and senior enough to have “administrator rights,” giving him unrestricted access to most or all of the NDB’s networks, including those holding vast caches of secret data.

Swiss investigators seized portable storage devices containing the stolen data after they arrested the suspect, according to the sources. At this point, they said, Swiss authorities believe that the suspect was arrested and the stolen data was impounded before he had an opportunity to sell it.

However, one source said that Swiss investigators could not be positive the suspect did not sell or pass on any of the information before his arrest, which is why Swiss authorities felt obliged to notify foreign intelligence partners their information may have been compromised.

Representatives of U.S. and British intelligence agencies had no immediate response to detailed queries about the case submitted by Reuters, although one U.S. official said he was unaware of the case.

SECURITY PROCEDURES QUESTIONED

Swiss Attorney General Michael Lauber and a senior prosecutor, Carolo Bulletti, announced in September that they were investigating the data theft and its alleged perpetrator. A spokeswoman for the attorney general said she was prohibited by law from disclosing the suspect’s identity.

A spokesman for the NDB said he could not comment on the investigation.

At their September press conference, Swiss officials indicated that they believed the suspect intended to sell the data he stole to foreign countries. They did not talk about the possible compromise of information shared with the NDB by U.S. and British intelligence.

A European source familiar with the case said it raised serious questions about security procedures and structures at the NDB, a relatively new agency which combined the functions of predecessor agencies that separately conducted foreign and domestic intelligence activities for the Swiss government.

The source said that under the NDB’s present structure, its human resources staff – responsible for, among other things, ensuring the reliability and trustworthiness of the agency’s personnel – is lumped together organizationally with the agency’s information technology division. This potentially made it difficult or confusing for the subdivision’s personnel to investigate themselves, the source said.

According to the source, investigators now believe that in the months before his arrest, the data theft suspect displayed warning signs that should have been spotted by his bosses or by security officials.

The source said that the suspect became so disgruntled earlier this year that he stopped showing up for work.

However, according to Swiss news reports, the NDB did not realize that something was amiss until the largest Swiss bank, UBS, expressed concern to authorities about a potentially suspicious attempt to set up a new numbered bank account, which then was traced to the NDB technician.

A Swiss parliamentary committee is now conducting its own investigation into the data theft and is expected to report next spring. Investigators are known to be concerned that the NDB lacks investigative powers, such as to search premises or conduct wiretaps, which are widely used by counter-intelligence investigators in other countries.

(Reporting by Mark Hosenball; Editing by Mark Heinrich)

Tech News Headlines – Yahoo! News

Read More..

Howard Stern signs on for more “America’s Got Talent”

LOS ANGELES (Reuters) – Shock jock Howard Stern will return as a judge for his second season on NBC‘s summer talent show “America’s Got Talent,” the broadcaster said on Monday, although the high-priced radio host appears to have done little to improve the show’s ratings.

NBC hoped Stern, 58, known for this sexually explicit radio interviews, would attract bigger audiences, but the finale in September was watched by a record low of under 11 million viewers, according to ratings data.

“Howard Stern’s towering presence and opinions on last season’s show as a new judge made a dramatic impact and added a sharper edge to the fascinating developments on stage,” Paul Telegdy, president of alternative programming at NBC, said in a statement.

The show, which also features celebrity judges Sharon Osbourne and Howie Mandel, remained the top-rated summer series among adults aged 18-49, the demographic most coveted by advertisers.

NBC attributed the overall 2012 audience decline partly to an earlier start that pitted “Got Talent” against end-of-season original programming in May.

The network is still searching for a replacement for Osbourne, who has quit in a dispute with NBC over their decision to drop her son Jack from another reality show.

Unlike popular singing competitions “The Voice,” “The X Factor” and “American Idol,” “America’s Got Talent” is open to dancers, comics, dancers and other performers. It is produced by “The X Factor” creator and judge Simon Cowell.

Stern is noted for his say-anything and do-anything radio program but he toned down his act when he started appearing as a judge on the show.

(Reporting by Eric Kelsey; Editing by Jill Serjeant)

TV News Headlines – Yahoo! News

Read More..

GSK details hopes for 14 pipeline drugs in 2013-14

LONDON (Reuters) – GlaxoSmithKline expects to have pivotal clinical trial results on up to 14 medicines in the next two years, including two new products which – if they work – could change the way cancer and heart disease are treated.

Unveiling the next wave of its pipeline on Monday, Britain’s biggest drugmaker said it was now developing a broader range of drugs than in the past, as it moves away from the industry’s traditional focus on “blockbusters”.

Some of the new medicines will be relatively small commercially but a handful have the potential to become multibillion-dollar-a-year sellers.

GSK is banking on the pipeline to revive its business after it failed to grow sales this year as hoped, due to steep pressure on drug prices in austerity-hit Europe.

Key experimental drugs that will have results from final-stage Phase III clinical trials in 2013 and 2014 include the heart drug darapladib and therapeutic cancer vaccine MAGE-A3, the company said in a briefing to investors and analysts.

Chief Executive Andrew Witty said he did not expect any significant increase in costs as a result of the roll out of new products and GSK would continue to look for ways to increase efficiency across the business.

(Editing by Kate Kelland)

Medications/Drugs News Headlines – Yahoo! News

Read More..

Did Mark Penn Swiftboat Google?

In July, Microsoft (MSFT) announced it was hiring Mark Penn—a longtime Democratic operative, pollster, and corporate strategist—to join the company in a newly created role, leading a “small interdisciplinary team,” focused on consumer initiatives that would report directly to Chief Executive Officer Steve Ballmer. At the time, Penn told reporters his first priority would be to focus on Microsoft’s search engine, Bing.

Fast-forward four months.

This week, Microsoft unleashed a Web campaign for Bing, called “Scroogled,” knocking Google’s (GOOG) values with the same flair with which Penn’s teams once undermined rival candidates on the campaign trail. “In the beginning, Google preached, ‘Don’t be evil’—but that changed on May 31, 2012,” the site reads. “That’s when Google Shopping announced a new initiative. Simply put, all of their shopping results are now paid ads.” Google later responded with a statement defending Google Shopping, in part by noting that the recent changes have made “it easier for shoppers to quickly find what they’re looking for.”

Did Penn play a role in crafting Bing’s anti-Google attack ad?

Mike Nichols, Bing’s corporate vice president and chief marketing officer, says Penn did participate in the Scroogled campaign. “We generally try not to call out individuals who participate or contribute in campaigns because they are team efforts,” says Nichols. “In Mark’s case, certainly, we asked him for his advice, and he offered it, and it’s been valuable.”

The attempt to undermine consumers’ trust in Google by taking a strategic swipe at a competitor’s roots (the “Don’t be evil” slogan dates back to Google’s birth) is likely to trigger a bit of déjà vu for anyone who has followed Penn’s career in politics.

In 2008, Bloomberg Businessweek’s Joshua Green (then at the Atlantic) revealed a series of memos Penn wrote during the 2008 presidential campaign, suggesting to his candidate Hillary Clinton, among other things, that she could undermine voters’ trust in Barack Obama by digging into his roots.

“All of these articles about his boyhood in Indonesia and his life in Hawaii are geared towards showing his background is diverse, multicultural and putting that in a new light,” Penn wrote. “It also exposes a very strong weakness for him—his roots to basic American values and culture are at best limited. I cannot imagine America electing a president during a time of war who is not at his center fundamentally American in his thinking and in his values.”

Ultimately, Clinton ignored Penn’s advice. Ballmer, on the other hand, appears to be less squeamish about going negative on Bing’s rival. The Scroogled campaign comes on the heels of a number of other ads by Microsoft (predating Penn’s arrival) that needle Google, including this and this.

Going negative, whether in politics or business, often triggers a backlash. And sure enough, the Scroogled site quickly drew critics. On Search Engine Land, influential blogger Danny Sullivan pounced. “Great campaign, if it were true,” Sullivan wrote. “It’s not. Bing itself does the same things it accuses Google of.”

Nichols disagrees, and says his marketing team will continue to try to educate the public on the differences between Google and Bing. In other words, expect more attack ads to follow.

“Most of the tests that we’ve ever done have shown that when we draw stark distinctions between what we offer and what Google offers, that it’s often news to people,” Nichols says. “At the same time, they value that we are educating them about the options.”

Businessweek.com — Top News

Read More..