HSBC investigates alleged loss of client data in Jersey
















LONDON (Reuters) – HSBC, Europe’s biggest bank, said on Friday it was investigating the alleged loss of data for clients in Jersey but had not been notified of any investigation by tax authorities.


The Daily Telegraph has reported that British tax authorities were examining details of more than 4,000 UK clients of HSBC in Jersey after a whistle-blower handed them a list of names, addresses and account balances.













HM Revenue & Customs (HMRC) said in a statement: “We can confirm we have received the data and we are studying it. We receive information from a very wide range of sources which we use to ensure the tax rules are being respected.”


HSBC said it was investigating the alleged loss of client data “as a matter of urgency.”


“We have not been notified of any investigation in relation to this matter by HMRC or any other authority but, should we receive notification, we will cooperate fully with the authorities,” the bank said in a statement.


This could mark another potential blow for HSBC which has been slammed by U.S. regulators for lax anti-money laundering controls in Mexico and elsewhere, and last year saw thousands of its Swiss clients probed by the UK taxman.


The bank’s London-listed shares dipped 0.2 percent by 4 a.m EDT, in line with a weak European banking index.


The Daily Telegraph report said Britain’s revenue service was combing through the list it had been given of HSBC’s Jersey clients to establish whether some used the offshore bank accounts to avoid paying UK taxes.


The list identifies 4,388 British-based people holding 699 million pounds ($ 1.1 billion) in current accounts and includes celebrities, bankers, doctors, mining and oil executives and oil workers, it the Telegraph wrote. The list also includes about 4,000 account holders with addresses outside Britain.


HSBC said earlier this week that a U.S. probe into anti-money laundering failures could result in a fine well over $ 1.5 billion and lead to criminal charges as well.


Tax authorities around the world are stepping up their efforts to uncover the identities of those who avoid taxes by hiding money in offshore accounts.


HSBC said on Friday it was “fully committed to adoption of the highest global standards including the procedures for the acceptance of clients.”


(Reporting by Natalie Huet and Steve Slater; Editing by Will Waterman and Jane Merriman)


Business News Headlines – Yahoo! News



Read More..

Assad says will live and die in Syria
















DOHA (Reuters) – President Bashar al-Assad said he would “live and die” in Syria and warned that any Western invasion to topple him would have catastrophic consequences for the Middle East and beyond.


Assad’s defiant remarks coincided with a landmark meeting in Qatar on Thursday of Syria’s fractious opposition to hammer out an agreement on a new umbrella body uniting rebel groups inside and outside Syria, amid growing international pressure to put their house in order and prepare for a post-Assad transition.













The Syrian leader, battling a 19-month old uprising against his rule, appeared to reject an idea floated by British Prime Minister David Cameron on Tuesday that a safe exit and foreign exile for the London-educated Assad could end the civil war.


“I am not a puppet. I was not made by the West to go to the West or to any other country,” he told Russia Today television in an interview to be broadcast on Friday. “I am Syrian; I was made in Syria. I have to live in Syria and die in Syria.”


Russia Today’s web site, which published a transcript of the interview conducted in English, showed footage of Assad speaking to journalists and walking down stairs outside a white villa. It was not clear when he had made his comments.


The United States and its allies want the Syrian leader out, but have held back from arming his opponents or enforcing a no-fly zone, let alone invading. Russia has stood by Assad.


The president said he doubted the West would risk the global cost of intervening in Syria, whose conflict has already added to instability in the Middle East and killed some 38,000 people.


“I think that the price of this invasion, if it happened, is going to be bigger than the whole world can afford … It will have a domino effect that will affect the world from the Atlantic to the Pacific,” the 47-year-old president said.


“I do not think the West is going in this direction, but if they do so, nobody can tell what is next.”


QATAR, TURKEY CHIDE OPPOSITION


Backed by Washington, the Doha talks underline Qatar’s central role in the effort to end Assad‘s rule as the Gulf state, which funded the Libyan revolt to oust Muammar Gaddafi, tries to position itself as a player in a post-Assad Syria.


Qatari Prime Minister Hamad bin Jassim Al Thani urged the Syrian opposition to set its personal disputes aside and unite, according to a source inside the closed-door session.


“Come on, get a move on in order to win recognition from the international community,” the source quoted him as saying.


Turkish Foreign Minister Ahmed Davutoglu delivered a similar message, saying, according to the source: “We want one spokesman not many. We need efficient counterparts, it is time to unite.”


An official text of a speech by Qatari Foreign Minister Khalid Mohamed al-Attiyah showed he told the gathering: “The Syrian people awaits unity from you, not divisions … Your agreement today will prove to the international community that there is a unity … and this will reflect positively in the international community’s stance towards your fair cause.”


Across Syria, more than 90 people were killed in fighting on Thursday, the Syrian Observatory for Human Rights said.


In Turkey’s Hatay border province, two civilians, a woman and a young man, were wounded by stray bullets fired from Syria, according to a Turkish official. Turkish forces increased their presence along the frontier, where officials have said they might seek NATO deployment of ground to air missiles.


Syria poses one of the toughest foreign policy challenges for U.S. President Barack Obama as he starts his second term.


International rivalries have complicated mediation efforts. Russia and China have vetoed three Western-backed U.N. Security Council resolutions that would have put Assad under pressure.


Syria’s conflict, pitting mostly Sunni Muslim rebels against forces dominated by Assad’s Alawite minority, whose origins lie in Shi’ite Islam, has fuelled sectarian tensions across the Middle East. Sunni Arab countries and Turkey favor the rebels, while Shi’ite Iran backs Assad, its main Arab ally.


“VICIOUS CIRCLE”


The main opposition body, the Syrian National Council (SNC), has been heavily criticized by Western and Arab backers of the revolt as ineffective, run by exiles out of touch with events in Syria, and under the sway of the Islamist Muslim Brotherhood.


British Foreign Minister William Hague said London would now talk to rebel groups inside Syria, after U.S. Secretary of State Hillary Clinton last week criticized the SNC and called for a new opposition body to include those “fighting and dying”.


But the plan for a body that could eventually be considered a government-in-waiting capable of winning foreign recognition and therefore more military backing ran into trouble almost as soon as it was proposed by SNC member Riyad Seif.


The meeting has so far been bogged down by arguments over the SNC representation and the number of seats the rival groups – which include Islamists, leftists and secularists – will have in a proposed assembly. Seif said he hoped for agreement on that on Thursday night, although the talks may continue into Friday.


Senior SNC member Burhan Ghalioun said the participants were moving towards consensus: “The atmosphere was positive. We all agree that we don’t want to walk away from this meeting in failure,” he told reporters.


Seif’s proposal is the first concerted attempt to merge opposition forces to help end the devastating conflict.


The initiative would also create a Supreme Military Council, a Judicial Committee and a transitional government-in-waiting of technocrats – along the lines of Libya’s Transitional National Council, which managed to galvanize international support for its successful battle to topple Gaddafi.


Michael Doran of the Brookings Institute in Washington told a forum in Doha it would not work for Syria. “It’s not a ridiculous idea, but it’s not going to succeed,” he said.


A diplomat on the sidelines of the talks said international divisions in the U.N. Security council did not help.


“It’s a vicious circle. They are asking the opposition to unite when they admit they are not themselves united,” he said.


(Writing by Tom Perry and Samia Nakhoul; Editing by Alistair Lyon, Alastair Macdonald and Philippa Fletcher)


World News Headlines – Yahoo! News



Read More..

Icahn says has mulled Netflix takeover, no decision made
















(Reuters) – Activist investor Carl Icahn, who holds an almost 10 percent stake in Netflix, said on Thursday he has considered a hostile takeover bid for Netflix, but it was uncertain he stood a chance of acquiring the Internet streaming service.


Asked by TV network CNBC whether he would “go hostile” on Netflix, Icahn said, “The thought had certainly entered my mind. I have to admit I think about it, but we haven’t made that decision.”













While Icahn said a hostile takeover was “certainly an alternative,” he downplayed the possibility several times. He added that he would not be able to pay as much for Netflix as a “synergistic buyer” looking to acquire an Internet movie and TV subscription service.


Netflix has been the subject of periodic acquisition speculation, with potential names tossed around from Microsoft Corp to Amazon.com Inc.


Icahn last month disclosed he had amassed control of 9.98 percent of Netflix shares. Most of his purchases were in the form of call options that expire in September 2014. The billionaire, who is known for shaking up corporate management, has said Netflix was undervalued and an attractive acquisition target for a number of companies.


Netflix has since adopted a poison pill defense to prevent a hostile takeover, a move that Icahn on Thursday called “reprehensible.”


A Netflix spokesman did not immediately respond to a request for comment on Icahn’s remarks.


(Reporting By Liana B. Baker in New York; Additional reporting by Katya Wachtel and Sam Forgione in New York and Lisa Richwine in Los Angeles; Editing by Leslie Adler)


Internet News Headlines – Yahoo! News



Read More..

Ex-oil man to be next Anglican leader: UK media
















LONDON (Reuters) – A former oil executive who went to the same exclusive school as Prime Minister David Cameron will shortly be named Archbishop of Canterbury, spiritual leader of the world’s 80 million Anglicans, British newspapers said on Thursday.


Justin Welby, 56, the Bishop of Durham, who has had a meteoric rise up the Church of England hierarchy since quitting the world of commerce in 1992, will be announced as the next archbishop as early as Friday, the reports said.













The nomination follows weeks of speculation that the Church body assigned to elect the future archbishop was split over choosing a reformer or a safe pair of hands to maintain the status quo.


Cameron’s spokesman said an announcement would come “soon”.


Welby, who went to the same exclusive school, Eton College, as Cameron, London mayor Boris Johnson and Princes William and Harry, has already accepted the position, according to the Daily Telegraph.


Bookmaker William Hill stopped taking bets on the future archbishop after a run of bets on Welby on Tuesday.


“In the space of less than an hour we had to cut the odds three times, so took the decision to close the book as we know a decision is already overdue and it seems word may have leaked out,” the bookmaker said in a statement


Welby will replace left-leaning incumbent Rowan Williams, who has said his successor as head of the global Anglican Communion will need “the constitution of an ox and the skin of a rhinoceros”.


Welby is widely reported to be against gay marriage but broadly in favor of the ordination of women bishops, two of the most divisive issues in the communion.


The new archbishop will earn about 74,000 pounds ($ 120,000) a year. He will have lodgings in the Old Palace in Canterbury, southeast England, and the historic riverside Lambeth Palace in London. His tenure will last until retirement at 70 or until he decides to move on.


(Reporting By Alessandra Prentice; editing by Steve Addison/Maria Golovnina)


Celebrity News Headlines – Yahoo! News



Read More..

UK police open inquiry into breast cancer surgeon
















LONDON (AP) — British police say a surgeon is being investigated by both detectives and the country’s General Medical Council over allegations about his treatment of more than 1,000 breast cancer patients.


Ian Paterson is alleged in negligence suits filed by former patients to have performed up to 1,150 “unnecessary, inappropriate or unregulated” operations.













The General Medical Council, which licenses doctors, suspended Paterson’s registration in October pending its inquiry.


West Midlands Police, in central England, said Thursday it was opening a criminal inquiry.


Lawyers allege 700 cases involve procedures in which some breast tissue was left behind after a mastectomy. Other patients allege they received invasive breast surgery when a biopsy may have been sufficient.


Health News Headlines – Yahoo! News



Read More..

Stock futures rise after selloff, data on tap
















NEW YORK (Reuters) – Stock index futures rose on Thursday ahead of job market data a day after major equity indexes posted their largest drops in months.


Equities slumped more than 2 percent Wednesday as investor focus returned to Europe’s economic troubles and as the electoral victory by President Barack Obama turned markets’ focus to the looming “fiscal cliff.”













Investors worry that if no deal is agreed in Congress over some $ 600 billion in spending cuts and tax increases due to kick in early next year, it could derail the U.S. economic recovery.


“To the extent we start to see some clarification of what (Congress) is thinking about, whatever it may be, it will provide some confidence,” said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.


He said the open-ended nature of what the fix may be for taxes has flooded markets with uncertainty.


Futures added to early gains as the euro slightly cut losses versus the U.S. dollar after the European Central Bank held its main interest rate at 0.75 percent, despite dovish comments Wednesday from ECB president Mario Draghi that stirred market rumors of a rate cut.


A rise in the U.S. dollar also weighed on equities Wednesday.


S&P 500 futures rose 4.8 points and were up in terms of fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 22 points and Nasdaq 100 futures rose 9 point.


Wednesday’s retreat marked the biggest daily drop for the S&P 500 since June 1; the index closed below the key 1,400 level for the first time since August 30. Despite Wednesday’s selloff, the benchmark S&P 500 is still up more than 10 percent so far this year.


The latest reading on the labor market will come with the release of weekly jobless claims, due at 8:30 a.m. (1330 GMT).


Qualcomm Inc late Wednesday reported quarterly revenue that beat expectations, sending shares up more than 7 percent in premarket trading.


Whole Foods Market Inc reported earnings that met expectations but its shares fell 3 percent before the market opened.


(Editing by Kenneth Barry)


Economy News Headlines – Yahoo! News



Read More..

Ghana building collapse traps dozens, kills 1
















ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.


Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.













The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.


Other officials told The Associated Press that the death toll was likely to rise.


An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.


A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.


“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.


President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.


The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.


The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.


Africa News Headlines – Yahoo! News



Read More..

DoubleLine’s Gundlach says Apple may drop to $425/share: CNBC
















NEW YORK (Reuters) – Apple shares could come under further selling pressure and drop to $ 425 a share over the next year on lack of innovation, said Jeffrey Gundlach, chief investment officer and chief executive officer of DoubleLine Capital LP.


Gundlach, who recommended betting against Apple in mid-May at the Ira Sohn Investment Conference in New York, told CNBC the company’s stock is “overbelieved” and that its recent debut of the iPad mini is not an innovation.













“The product innovator, as I’ve said over and over again, isn’t there anymore,” Gundlach said in reference to Apple’s late founder Steve Jobs.


Shares of Apple, whose latest quarterly results failed to meet Wall Street’s lofty expectations, has fallen more than 20 percent from a record high of $ 705.07 in September. Shares slid as much as 4.6 percent on Wednesday to a low of $ 555.75 before ending the day down 3.8 percent at $ 558.0019.


Wednesday, Apple shares were under pressure as investors grew more uncertain about its ability to fend off unprecedented competition and untangle a snarled iPhone 5 supply chain.


Gundlach, whose firm oversees more than $ 45 billion in assets, said that the stock could fall to around $ 425 a share.


With regard to the benchmark S&P 500′s 2 percent decline on Wednesday, Gundlach said that investors may be anticipating the impact of higher taxes on capital gains that U.S. President Barack Obama is expected to implement.


“If you’re going to think about higher tax rates, maybe you want to sell the stocks before the tax rates go up, and I think that may be pressuring stocks in general,” Gundlach said.


Gundlach said that the “fiscal cliff” of tax increases and spending cuts set to begin at the start of next year could be “punted down the road,” but that it could also prove a “monumental” shock to markets if investors doubt its potential impact.


Gundlach also said that his DoubleLine Total Return Bond Fund has roughly 15 percent of its assets in cash and that he expects markets to become more volatile.


“I really am looking for higher volatility in the market as a general theme,” he said.


(Reporting by Sam Forgione; Editing by Bernard Orr)


Gadgets News Headlines – Yahoo! News



Read More..

CBS’s ‘Elementary’ gets prized post-Super Bowl slot
















LOS ANGELES (TheWrap.com) – CBS’s freshman Sherlock Holmes drama “Elementary” will get a big boost in February, when it airs following Super Bowl XLVII, the network said Monday.


The series, which stars Jonny Lee Miller and Lucy Liu, delivers a modern-day take on the Sherlock Holmes saga, with both the detective and his sidekick Watson living in contemporary New York.













The special episode will air Sunday, February 3 at 10 p.m. ET/7 p.m. PT, following the network’s post-game coverage.


The series, which also stars Aidan Quinn, has already proven to be a hit for the network, regularly winning its Thursday at 10 p.m. timeslot. “Elementary,” which premiered September 27, has averaged a 3.5 rating/10 share in the advertiser-cherished 18-49 demographic, and 14.2 million total viewers.


Even so, the exposure that a post-Super Bowl slot provides certainly can’t hurt. The second-season premiere of NBC‘s “The Voice” after the Super Bowl, meanwhile, scored the highest ratings of any entertainment telecast since 2006.


“The Voice” scored a 16.3 rating in the key demo and 37.6 million total viewers overall. It was the best rating since a 16.5 for “Grey’s Anatomy” after the Super Bowl on ABC in 2006, and provided a welcome boost for fourth-place network NBC. The show was up 47 percent in the demo and 40 percent in total viewers over the episode of “Glee” that aired after the Super Bowl on Fox last year. (“Glee” scored an 11.1 and 26.8 million total viewers.)


The ratings victory gave “The Voice” a huge start to its second season. It spent much of 2011-12 neck-in-neck with the Wednesday night edition of “American Idol” to be the highest-rated show on television after “Sunday Night Football.” “Idol” ultimately beat “The Voice” on Wednesdays, but just barely.


The Super Bowl is typically the most-watched program of the year, and this year’s game set a record as the most-watched television program in U.S. history, with 111.3 million total viewers.


TV News Headlines – Yahoo! News



Read More..

Insomnia doubles risk of heart attack, stroke, research shows

















The study by researchers in Taiwan found that people with insomnia were twice as likely to have heart attacks or strokes than those without the sleep disorder during the trial’s four-year period. The research was presented Monday at the American Heart Association meeting in Los Angeles.













The findings add to previous research showing not enough sleep can contribute to high blood pressure, and waking too early may raise heart risks. Sleep should be part of the patient-doctor discussion during checkups, said Kristen Knutson, a sleep researcher who wasn’t part of the study.


“A lot of people and many physicians don’t ask about sleep,” said Knutson, an assistant professor in the Department of Medicine at the University of Chicago. “The first thing is to talk to their patients and also for the patients to talk to their doctors about their sleep and discussing sleep as one of the many important health behaviors like diet and exercise.”


No one is certain how lack of sleep contributes to heart attacks and strokes, she said. It may be that the body’s “fight or flight” system is more active with not enough sleep, which can increase heart rate and over time increase blood pressure and raise the risk for cardiovascular disease, she said.


Chronic insomnia affects about 1 in 5 adults and is also a risk factor for depression, substance abuse and impaired waking function, according to the National Institutes of Health.8f67d  basic Insomnia doubles risk of heart attack, stroke, research shows


Diseases/Conditions News Headlines – Yahoo! News



Read More..