Bank of Canada keeps “over time” condition on rate hike
















OTTAWA (Reuters) – Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank‘s message that interest rate increases will likely be needed, but only over time.


The “over time” phrase was introduced in the bank’s key guidance in its rate statement on October 23 as a way of signaling that while the next rate move is likely to be up, such a move was less imminent than it had been.













“Over time, some gradual withdrawal of monetary policy stimulus will likely be required, consistent with achieving the inflation-control target,” Lane said, according to a prepared presentation he was giving on Wednesday in Moncton, New Brunswick.


Another part of the presentation, which was posted on the central bank’s website, noted: “The Canadian economy continues to operate with a small amount of excess supply.”


The Bank of Canada is alone in the Group of Seven leading industrialized countries in signaling an intention to raise rates despite expectations of modest and unbalanced global growth.


Lane forecast “very robust growth” in emerging markets, stagnation in Europe and significant dampening of U.S. growth due to fiscal consolidation. He said Canada‘s real gross domestic product was still expected to grow at a moderate pace.


(Reporting by Randall Palmer; Editing by Jeffrey Hodgson; and Peter Galloway)


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NJ jury convicts NY man in iPad data breach case
















NEWARK, N.J. (AP) — A federal jury on Tuesday convicted a man of illegally gaining access to AT&T‘s servers and stealing more than 120,000 email addresses of iPad users including New York Mayor Michael Bloomberg and film mogul Harvey Weinstein.


Andrew Auernheimer, of New York, was convicted of identity theft and conspiracy to gain unauthorized access to computers. Each count carries a maximum prison sentence of five years.













Prosecutors said the former Fayetteville, Ark., resident was part of an online group that tricked AT&T’s website into divulging email addresses including those of Bloomberg, Weinstein, then-White House chief of staff Rahm Emanuel, who’s now Chicago’s mayor, and other celebrities.


The group then shared the addresses with the website Gawker, which published them in redacted form accompanying a news article about the breach, prosecutors said.


A second man arrested with Auernheimer early last year, Daniel Spitler, of San Francisco, pleaded guilty that June.


At the time of the arrests, U.S. Attorney Paul Fishman said there was no evidence the men used the swiped information for criminal purposes. But authorities cautioned that it could have wound up in the hands of spammers and scam artists.


According to court papers, the men used a computer script they called the iPad3G Account Slurper to fool AT&T’s servers into thinking they were communicating with an iPad. The theft of the email addresses occurred in June 2010.


Prosecutors said at the time of Auernheimer’s arrest that he had bragged about the operation in a blog posting and in an interview with CNET published online after the Gawker article. Court papers also quoted him declaring in a New York Times article: “I hack, I ruin, I make piles of money. I make people afraid for their lives.”


Auernheimer, after he was charged and released on bail, had declined to comment.


iPad maker Apple Inc., based in Cupertino, Calif., referred questions to AT&T, which acknowledged a security weak spot on a website that exposed the email addresses. AT&T said the vulnerability affected only iPad users who signed up for its 3G wireless Internet service and said it had fixed the problem.


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Docs Push for Over-the-Counter Pill
















In an attempt to lower the alarmingly high rate of unplanned pregnancy — and the high cost associated with it — an expert panel of doctors recommended Tuesday that birth control pills be made available without a prescription.


Specifically, the committee said the potential benefits of over-the-counter birth control pills outweigh the danger, which includes a small risk of dangerous blood clots.













Nearly half of all pregnancies happen by accident, according to government data. These pregnancies cost taxpayers an estimated $ 11.1 billion each year, according to the American College of Obstetricians and Gynecologists’ Committee on Gynecologic Practice.


The birth control pill, commonly called “the pill,” is a formulation of hormones, usually progestin and estrogen, that helps prevent pregnancy mainly by keeping the ovaries from releasing eggs. Right now “the pill” is only available in the United States with a prescription, which the committee said poses a significant barrier.


“Access to and cost issues are common reasons why women do not use contraception or use it inconsistently,” said Dr. Kavita Nanda, one of the physicians on the committee.


A survey from 2004, cited by the committee, found that almost half of all uninsured women and 40 percent of low-income women who were not using birth control pills, the patch or the ring, said they would more likely use the pill if it were available over the counter.


This same survey also found that more than two out of three women at risk of an unintended pregnancy would use their pharmacy if more methods of birth control were available over the counter.


The committee said that birth control pills are good options for these women, with efficacy ranging from 92 to 99 percent depending on use.


Dr. Daniel Grossman, an American College of Obstetricians and Gynecologists fellow, who was not part of the committee, said oral contraceptives are also safe. “We have over 50 years of experience with this method,” he said.


There are still many steps that would have to occur for the American College of Obstetricians and Gynecologists recommendation to translate into the availability of birth control pills over the counter. And not all doctors support the idea that birth control pills are safely sold without a prescription.


“I think that the risks far outweigh the benefits,” said ABC News’ senior medical contributor Dr. Jennifer Ashton, who is also an obstetrician and gynecologist.


“Even though they’re hormones … they’re at much higher doses than our body makes, and as such there can be side effects ranging from minor to life threatening,” Ashton said. She went on to list some of the side effects associated with birth control pills, including low risks of blood clot, stroke and heart attack. “It’s a full spectrum of things that really needs a medical provider in the picture.”


Still, the committee noted in its recommendation that the risk of blood clots associated with birth control pills was low, with three to 10 women out of 10,000 taking the pill experiencing such a problem each year. By comparison, past research has found that the risk of blood clots associated with being pregnant is five to 20 women out of 10,000 each year, while the risk of clots associated with having just given birth is 40 to 65 per 10,000.


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Leading economic indicator rises in October
















WASHINGTON (Reuters) – A gauge of future U.S. economic activity rose marginally in October, pointing to modest growth in the near term.


The Conference Board said on Wednesday its Leading Economic Index increased 0.2 percent to 96.0 after advancing 0.5 percent in September. It was the second consecutive month of gains and was in line with economists’ expectations.













“Based on the trends, the economy will continue to expand modestly through the early months of 2013,” said Ken Goldstein, an economist at the Conference Board.


Goldstein said superstorm Sandy, which ravaged the East Coast at the end of October, was not yet fully reflected in the LEI data. He cautioned, however, that the storm could adversely affect consumer spending and home building in the short-term.


“In addition, the outcome of the fiscal cliff debates is another factor that could alter the outlook,” said Goldstein.


The fiscal cliff refers to automatic government spending cuts and higher taxes that could suck about $ 600 billion from the economy early next year. Business confidence has taken a dive in recent months on fears of tighter fiscal policy.


(Reporting By Lucia Mutikani; Editing by Andrea Ricci)


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Greek PM presses for deal on loan
















ATHENS, Greece (AP) — Greece has reacted with dismay to the European Union‘s failure to agree to release vital rescue loan funds for the debt-ridden country, with the prime minister warning it was not just Greece’s future that hangs in the balance.


The delay prolongs uncertainty over the future of Greece, which faces a messy default that would threaten the entire euro currency used by 17 EU nations.













Prime Minister Antonis Samaras stressed that Greece has done what its creditors from the EU and International Monetary Fund required. “Our partners, along with the IMF, also must do what they have committed to doing,” he said.


He said that “it is not just the future of our country, but the stability of the entire eurozone” that depend on the success of negotiations in coming days.


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Kopp: Impostor filed motion in NY Facebook case
















BUFFALO, N.Y. (AP) — Lawyers fighting a New York man’s ownership claim against Facebook Inc. say a bizarre motion bearing the name of convicted abortion doctor killer James Charles Kopp earlier this month was apparently filed by an impostor.


In court papers, Facebook lawyers say they received a sworn statement from the imprisoned Kopp Monday denying he’s filed any motion in Paul Ceglia‘s lawsuit. An accompanying letter from Kopp to the federal judge handling the case says someone is impersonating him.













The motion signed with Kopp’s name had sought permission to intervene in Ceglia’s lawsuit while accusing Ceglia of a litany of personal slights, threats and crimes. Kopp’s serving life in prison for the 1998 killing of Dr. Barnett Slepian in suburban Buffalo.


Facebook says the Kopp motion, even if it’s real, should be denied.


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Task Force Backs HIV Screening
















In an effort to curb HIV transmission and get treatment to those already infected, the U.S. Preventive Services Task Force has recommended that every American between the ages of 15 and 65 be tested for HIV.


Experts hope that the new recommendations will encourage more Americans to get tested and, if necessary, get treated.













HIV screening is an important way to help people who have HIV, and also to prevent transmission,” said Dr. Doug Owens, a leader of the task force and professor of medicine at Stanford University and the Veterans Affairs Palo Alto Health Care System. Owens said that HIV treatment “decreases the amount of circulating virus,” making it less likely for it to spread from person to person.


Roughly 1.2 million Americans are currently living with HIV, a number that has been increasing steadily over the past five years, according to the U.S. Centers for Disease Control and Prevention. There continue to be about 48,000 new cases per year in the United States, but new treatments are allowing people to live long lives after they’re diagnosed.


“Hopefully, more people with HIV will be identified and treated earlier,” said Dr. Roger Chou of the Pacific Northwest Evidence Based Practice Center, whose study on the evidence supporting the new recommendation was published today in the Annals of Internal Medicine.


HIV-positive patients who start treatment while their immune systems are relatively intact live longer and are less likely to spread the virus to other people. But 20 percent of patients are unaware they have the virus, said Dr. Carlos Del Rio, co-director of the Emory Center for AIDS research in Atlanta.


“This news about screening is very exciting,” Del Rio said.


Previous task force recommendations on HIV testing, published in 2005, called for adults to get tested only if they’d had unprotected sex with multiple partners or used intravenous drugs — in other words, were at high risk. But up to a quarter of patients who test positive for HIV report no risk factors, according to the new Preventive Services Task Force statement.


“People are terrible at knowing their own risk,” said Del Rio, adding that people may be unaware of the HIV status of their sexual partners. “And doctors are terrible at asking them about risk. It can be difficult to discuss sex and drugs with our patients.”


The task force recommendations are used by Medicare and other insurance companies to determine what laboratory tests should be covered. Other important task force recommendations included screening for breast and colon cancer, as well as high cholesterol.


“I don’t have to ask my patients if they eat hamburgers before ordering a cholesterol test,” said Del Rio. “Now I can do a routine HIV test when patients come to clinic.”


In order for the U.S. Preventive Services Task Force to make a testing recommendation, the test has to be accurate, treatment for the disease must be available and the benefits of the treatment outweigh the harms.


HIV testing is one of the most accurate tests that we have for any condition,” said Chou.


Coupled with the fact that the benefits of HIV treatment are now known to outweigh the risks, screening now makes sense, according to the experts on the task force.


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The New York Times’ Murdoch Moment
















Why is Mark Thompson increasingly reminding us of James Murdoch?


Not long ago, Thompson and Murdoch were rivals of sorts. Murdoch was the head of News International in London. Thompson was the head of the BBC. Sometimes they took turns criticizing each other’s media operations in public.













Then scandals hit both organizations. And in the aftermath, as they have both repeatedly explained how the problems might have occurred on their watch without them knowing, as they have tried to distance themselves from widening probes and allegations of corporate cover-ups, and as they left London for new jobs in New York, the two rivals have started to sound a lot alike.


Recall Murdoch’s situation first.


In the summer of 2011, revelations of widespread phone hacking at News International triggered a huge wave of public outrage in the U.K., a range of public investigations, and allegations of a company cover-up on Murdoch’s watch.


In the immediate aftermath of the revelations, Murdoch said repeatedly that he was not part of any alleged cover-up; that for a long time he had been led to believe the phone hacking had been limited to a single “rogue” reporter; and that he had never been made aware of any allegations of widespread phone hacking taking place at News International until after the whole thing had erupted in public.


But then a correspondence involving lawyers for Murdoch surfaced, raising questions about those claims.


In the e-mail chain, an editor for one of News International’s papers updated Murdoch on a union official who was suing the company, noting that the situation “is as bad as we feared.” He also forwarded Murdoch two e-mails from company lawyers, one of which explained that the union official was eager to show that phone hacking was “rife” at News International and not limited to a single “rogue” reporter. The e-mail was sent to Murdoch well before the scandal erupted publicly—which seemed to cast serious doubt on his claims that he had been kept in the dark about the possibility of a broader problem.


But even after the e-mail surfaced, Murdoch stood firm.


He explained that when he had originally received the correspondence, he had just returned from overseas, was in the company of his young children, and so he might not have read to the bottom of the e-mail chain. Thus, he had apparently failed to absorb its meaning.


This past week, Thompson offered up a story reminiscent of Murdoch’s.


In October, allegations that the late Jimmy Savile, the former BBC star, had used his position to sexually abuse a large number of minors over the years triggered a huge wave of public outrage in the U.K., touched off multiple investigations, and raised allegations that a company cover-up had taken place on Thompson’s watch.


Like Murdoch, Thompson has denied that he was part of a cover-up. He explained that he had never been made aware of any allegations of sexual abuse until after the whole thing erupted in public.


“During my time as director general of the BBC, I never heard any allegations or received any complaints about Jimmy Savile,” Thompson  told the New York Times in mid-October.


Then a correspondence involving lawyers for Thompson emerged, casting doubt on those claims.


The Times reported that 10 days before Thompson left the BBC in September 2012, lawyers representing him threatened in a letter to sue a newspaper in London that was preparing to publish an article suggesting, among other things, that Thompson had been involved in killing a BBC news investigation into Savile. “Interviews show that the letter included a summary of the alleged abuse, including the allegation that some abuse might have occurred at the BBC,” reported the Times.


Even after the Times broke the news of the letter’s content, however, Thompson stood firm.


An aide to Thompson explained to the Times that while Thompson had “orally authorized the sending of the letter” he might not have read its content—in part, because he had recently been traveling on vacation. In any case, he had apparently failed to absorb its meaning.


In February, Murdoch stepped down as the head of News International and relocated to New York for a job overseeing News Corp.’s (NWSA) international TV businesses. The ongoing investigations into wrongdoing at News International have raised questions about the future of his leadership role at the company. “I look forward to expanding my commitment to News Corporation’s international television businesses and other key initiatives across the Company,” said Murdoch at the time of his announced relocation to New York.


Recently, Thompson relocated to New York to become the new chief executive officer of the New York Times Co. (NYT). The ongoing investigations into wrongdoing at the BBC have raised questions about the future of his leadership role at the company. Last week, on his first day at work, camera crews greeted him outside his new office. A reporter asked if the crisis at the BBC would impact his role at the Times.  ”No,” said Thompson. “I believe that it will not in any way affect my new job, which I’m starting right now.”


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U.S. fiscal impact of great concern to Canada: Canada’s Harper
















TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.


The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.”













(Reporting by Solarina Ho)


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Amazon’s larger Kindle Fire HD ships early
















NEW YORK (AP) — Amazon has started shipping the larger version of its Kindle Fire HD tablet computer on Thursday, five days ahead of schedule.


Amazon is short on stock, though, so new orders won’t ship until Dec. 3. Amazon.com Inc. had been taking orders for shipment on Nov. 20.













The Kindle Fire is one of several tablets challenging Apple’s iPad.


The tablet, which has an 8.9-inch screen measured diagonally, is available on Amazon’s website for $ 299. The tablet will be available at Best Buy stores beginning Friday and at more retailers in the coming weeks.


A version with cellular access is available for $ 499 and will start shipping next week as planned, though new orders won’t ship until Dec. 3.


The smaller version, which has a 7-inch screen, has been available since September.


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