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.

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

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H&R Block, Zynga, Akamai are big market movers

NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

H&R Block Inc., up 89 cents at $ 18.26

The tax preparer’s quarterly loss narrows, helped by cost cuts. It thinks earnings will grow in the upcoming U.S. tax season.

SAIC Inc., down 41 cents at $ 11.26

The defense contractor’s quarterly earnings fall short of Wall Street expectations, and it’s eliminating 700 jobs to cut costs.

Men’s Wearhouse Inc., down 84 cents at $ 30.51

The men’s clothing store chain cuts its outlook, saying traffic dropped in November and it was more cautious about the rest of the year.

Safeway Inc., up 42 cents at $ 17.88

The grocery store chain moves up payment of its quarterly dividend to December from January to avoid potentially higher taxes.

Nasdaq

Zynga Inc., up 17 cents at $ 2.49

The troubled online games maker’s filing with a Nevada regulator could pave the way for it to enter the lucrative U.S. gambling market.

Vera Bradley Inc., down $ 3.07 at $ 23.14

The handbag maker’s forecast for the current quarter comes in short of Wall Street analysts’ average estimate.

Akamai Technologies Inc., up $ 3.56 at $ 39.06

The company, whose products help deliver online content, strikes a deal to provide services to AT&T customers.

Epoch Investment Partners Inc., up $ 5.78 at $ 27.69

Canada’s TD Bank plans to buy the U.S. asset manager for $ 668 million, a 28 percent premium from Wednesday’s closing price.

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“Zero Dark Thirty” wins best film award a second time

NEW YORK (Reuters) – “Zero Dark Thirty,” filmmaker Kathryn Bigelow‘s action thriller about the hunt for Osama bin Laden, was named best film of 2012 on Wednesday by the National Board of Review – the second accolade for the movie in one week.

Bigelow was named best director and Jessica Chastain, who plays the starring role of a young CIA officer pursuing bin Laden, was named best actress by the NBR.

Bradley Cooper took home best actor honors for his portrayal of a bipolar, former teacher in the film “Silver Linings Playbook.”

” ‘Zero Dark Thirty’ is a masterful film,” NBR President Annie Schulhof said in a statement. “Kathryn Bigelow takes the viewer inside a definitive moment of our time in a visceral and unique way. It is exciting, provocative and deeply emotional.”

Wednesday’s awards for the Hollywood treatment of the decade-long operation to hunt and kill bin Laden, based on firsthand accounts, boosts the prospects for the movie to win an Oscar in February. The film, not yet publicly released, also took the top award from the New York Film Critics Circle on Monday.

Leonardo DiCaprio won best supporting actor from the NBR for his role in Quentin Tarantino’s new slavery era drama, “Django Unchained,” while Ann Dowd took the best supporting actress honors for her role in “Compliance,” as a fast-food restaurant manager duped by a prank caller scam.

The NBR, a 100 year-old U.S.-based group of movie industry watchers and film professionals, gave its original screenplay award to Rian Johnson for “Looper,” and adapted screenplay to David O. Russell for “Silver linings Playbook.”

“HOBBIT,” “LIFE OF PI” OVERLOOKED

“Les Miserables,” the first big movie adaptation of the popular stage musical featuring Hugh Jackman, Russell Crowe and Anne Hathaway was named best ensemble, and the group gave its best animated feature prize to “Wreck-It-Ralph.”

Each year the board also issues a list of top 10 movies, which this year besides Bigelow’s film included Ben Affleck’s Iran hostage thriller “Argo,” “Django Unchained,” “Les Miserables,” “Silver Linings Playbook,” and “Looper.”

“Lincoln,” Steven Spielberg’s biopic of President Abraham Lincoln, the mystical indie film “Beasts of the Southern Wild,” Gus van Sant’s fracking drama “Promised Land,” and coming of age film “The Perks of Being A Wallflower,” rounded out the list.

Absent from the list were some films that had been touted for honors ahead of awards season, including Peter Jackson’s “The Hobbit,” Wes Anderson’s “Moonrise Kingdom,” indie film “The Sessions” starring Helen Hunt, and Ang Lee’s “Life of Pi.”

In other categories, NBR gave its best documentary award to “Searching for Sugarman,” and chose Austrian director Michael Haneke’s “Amour,” as best foreign language film.

Child-actress Quvenzhane Wallis from “Beasts of the Southern Wild,” and “The Impossible” actor Tom Holland each won awards for breakthrough performances.

Benh Zeitlin received the award for best debut director for “Beasts of the Southern Wild,” while documentary “Central Park Five” and drama “Promised Land” were both honored with the Freedom of Expression award.

The National Board of Review was formed in New York in 1909 as a nonprofit organization dedicated to supporting movies as an art form and entertainment.

(Reporting by Christine Kearney, editing by Jill Serjeant and Leslie Gevirtz)

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Kate leaves hospital after morning sickness

LONDON (Reuters) – Prince William‘s pregnant wife Kate left the King Edward VII hospital in central London on Thursday where she had spent four days being treated for acute morning sickness.

Accompanied by her husband, Kate, 30, appeared at the steps of the hospital smiling and holding a bouquet of yellow flowers. Neither she nor William spoke to waiting reporters before being driven way.

Kate, who married the second-in-line to the throne in April last year, has been suffering from Hyperemesis Gravidarum, an acute morning sickness which causes severe nausea and vomiting and requires supplementary hydration and nutrients.

There has been no announcement about when the baby is due, although the prince’s spokesman has said Kate is less than 12 weeks pregnant.

Kate, known formally as the Duchess of Cambridge, will now recuperate at Kensington Palace, a royal residence in west London, her husband’s office said.

“She is feeling better but now requires a period of rest,” a royal spokeswoman said. “Their royal highnesses would like to thank the staff at the hospital for the care and treatment the duchess has received,” the spokeswoman added.

The onset of the severe sickness and the need for Kate to go to hospital brought forward the announcement of her pregnancy, sparking a frenzy in the British media and even taking by surprise her grandmother-in-law, Queen Elizabeth, according to reports.

Bookmakers have been quick off the mark to lay odds on a name for the unborn baby, who will be third in line to the British throne after William and his father Charles.

The government is passing legislation in time for the birth to change historic rules of succession so that males no longer have precedence over a female sibling.

There has even been speculation that Kate could be carrying twins, as the acute sickness she is suffering is slightly more common in twin pregnancies.

World leaders including U.S. President Barack Obama were swift to follow British Prime Minister David Cameron in sending their congratulations.

(Reporting by Tim Castle and Stephen Addison, editing by Paul Casciato)

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EADS EGM scheduled for first quarter: source

BERLIN (Reuters) – EADS will call an extraordinary general meeting in the first quarter of next year to seek approval of a planned overhaul of its shareholders structure, a source at the German economy ministry said on Thursday.

Nations in EADS on Wednesday agreed on the biggest shake-up of the European aerospace group since it was founded over a decade ago, opting after years of uneasy cohabitation to put its board and most of its shares beyond public control.

(Reporting by Markus Wacket; Writing by Maria Sheahan)

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South Africa military plane crashes in mountains

JOHANNESBURG (AP) — A South African military aircraft on an unknown mission to an area near the village where former President Nelson Mandela lives crashed in a mountain range, officials said Thursday. It was unclear whether there were any survivors.

The Douglas DC-3 Dakota, a twin-propeller aircraft, had taken off from Pretoria’s Waterkloof Air Force Base on Wednesday night, said Brig. Gen. Xolani Mabanga, a military spokesman. On Thursday morning, soldiers found the wreckage of the airplane in the Drakensberg mountains near Ladysmith in KwaZulu-Natal province, some 340 kilometers (210 miles) southeast of the air base, Mabanga said.

Mabanga said soldiers had been sent to the scene to look for survivors. Mabanga said he did not know what the mission of the aircraft was, though it had planned to land in Mthatha in the country’s Eastern Cape. Siphiwe Dlamini, a Defense Ministry spokesman, declined to immediately comment Thursday morning.

Mthatha is about 30 kilometers (17 miles) north of Qunu, the village where Mandela now lives after retiring from public life. South Africa‘s military remains largely responsible for the former president’s medical care. However, military officials declined to say whether those on board had any part in caring for Mandela.

In November, another South African military flight crash landed at Mthatha, sending several people to the hospital with injuries. However, at that time, the military denied that those on board had anything to do with Mandela’s care.

Mandela, 94, was imprisoned for nearly three decades for his fight against apartheid before becoming the nation’s president in the country’s first fully democratic vote in 1994.

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Jon Gambrell can be reached at www.twitter.com/jongambrellAP .

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Samsung files redacted copy of Apple-HTC deal in U.S. court

(Reuters) – Lawyers for Samsung Electronics Co Ltd filed a redacted copy of a 10-year patent licensing agreement between Apple Inc and Taiwan’s HTC Corp in a U.S. court late on Wednesday following a judge’s order.

The Korean electronics company had earlier filed a motion to compel Apple — with which it is waging a bitter legal battle over mobile patents across several countries — to reveal details of a settlement that was made with HTC on November 10 but which have been kept under wraps.

The court last month ordered Apple to disclose to Samsung details of the legal settlement that the iPhone maker reached with HTC, including terms of the 10-year patents licensing agreement.

Legal experts say the question of which patents are covered by the Apple-HTC settlement, and licensing details, could be instrumental in Samsung’s efforts to thwart Apple’s subsequent quest for a permanent sales ban on its products.

The redacted copy excludes key specifics such as the royalty payments HTC would have to make to Apple for using some of the U.S. company’s patents. Also excluded are details of some of HTC’s covered products that were part of the licensing deal.

The court order had stated that “only the pricing and royalty terms of license agreements may be sealed.”

However, Samsung lawyers said in the filing that they had withheld a few other details of the licensing agreement as requested by Apple and HTC.

As per the Apple-HTC agreement, the licenses do not include Apple’s design patents, according to a filing made with the District Court of Northern California.

Apple and HTC also agreed to fully paid-up, royalty-free, non-exclusive, non-transferable, non-sublicensable licenses to certain of the other’s patents.

Apple has agreed not to initiate legal action over some of HTC’s covered products. The details of the products were not disclosed.

The copy of the Apple-HTC deal filed with the court “incorporates redactions HTC requested and the redactions Apple requested, which are a subset of HTC’s redactions. Samsung takes no position on whether the redactions are appropriate at this time,” Samsung’s lawyers said in a filing.

If all the Apple patents are included — including the “user experience” patents that the company has previously insisted it would not license — it could undermine the iPhone maker’s efforts to permanently ban the sale of products that copy its technology.

In a previous court filing, Samsung argued that it was “almost certain” that the HTC deal covered some of the patents involved in its own litigation with Apple.

The case in U.S. District Court, Northern District of California, is Apple Inc v. Samsung Electronics Co Ltd et al, No. 11-1846.

(Reporting by Sakthi Prasad in Bangalore and Poornima Gupta in San Francisco; Editing by Richard Pullin and Ted Kerr)

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Lady Gaga buys Michael Jackson’s costumes at auction

LOS ANGELES (Reuters) – Pop star Lady Gaga purchased 55 items belonging to late singer Michael Jackson in a weekend auction that raised more than $ 5 million, a portion of which will be donated to charity, Julien’s Auctions said.

The auction, held in Beverly Hills, showcased 465 lots of items spanning Jackson’s career through the years, including costumes and props used on tour and in music videos.

Highlights from the sale included the late singer’s “BAD” tour jacket raising $ 240,000, a white glove selling for $ 192,000 and one of the singer’s Pepsi and Awards jacket garnering more than $ 68,000, the auction house said in a statement.

Following Sunday’s auction, Gaga told her 31 million Twitter followers that “the 55 pieces I collected today will be archived & expertly cared for in the spirit & love of Michael Jackson, his bravery, & fans worldwide.”

Jackson died aged 50 in June 2009 in Los Angeles from an overdose of the anesthetic propofol and sedatives.

The collection of outfits, designed by Los Angeles-based collaborators Dennis Tompkins and Michael Bush and gifted back to them by the late singer, were taken on a world tour earlier this year, traveling across South America, Europe and Asia.

In September, British hat designer Philip Treacy designed his first London fashion week show in a decade around Jackson’s auction costumes, which were worn by the models down the runway and accessorized with hats inspired by the late singer’s life.

Gaga not only attended Treacy’s show but was on hand to introduce the milliner’s collection.

The auction exceeded pre-sale estimates of $ 1 million to $ 2 million, and a portion of the final amount raised will benefit the Guide Dogs of America and Nathan Adelson Hospice in Las Vegas.

(Reporting By Piya Sinha-Roy, editing by Jill Serjeant)

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Amazon’s Holiday Run Helps Put UPS in Prime Position

Yeah, I’ll admit it: Not only do I read the Economist, I look forward to my weekly copy. It makes me look and feel smart, all that erudition and high-concept cheek, and no one writes a better obit. I imagine a bunch of Economist editors who look like Alistair Cooke teaching me SAT-busting words like “corpulent” and “eldritch.” I regret the gang feud between our magazines.

This week, the Economist crew ran a brilliant cover on the great tech wars of 2012. One doozy of an observation:

Rather than try to replicate [Amazon’s] extensive network of warehouses, Google is looking for partnerships with shipping companies and retailers instead. But if it is serious about taking on Amazon, it may ultimately have to buy a logistics firm. At $ 69 billion UPS has a market value less than a third of Google’s; it is valued at less than twice the search giant’s cash pile.

Google (GOOG) buying UPS (UPS) may sound ridiculous, but I got to thinking about the shipper’s cyberstrategic import the other day when I was returning two Amazon (AMZN) packages at the UPS Store. I waited in line behind a woman with multiple Zappos (Amazon) returns, and encountered UPS again that night when I went all Amazon Prime on orthotics and a new camera. And some mail-order Indian food for my brother. Shipping fees need not apply in this brave new world, where UPS gets paid on both ends, and solidly more next year than now.

I’m not an isolated example. According to ChannelAdvisor, in the five days from Thanksgiving through Cyber Monday, client sales on Amazon jumped 38 percent from a year earlier. Amazon played Cyber Monday like a 14th century cello, offering deals that leave brick-and-mortar stores struggling to compete. And if two-day UPS is now the Amazon Prime industry standard, local express delivery is its next big one.

Now, ponder the statistical impossibility of the U.S. Postal Service, which just registered a $ 15.9 billion annual loss and is begging to ditch Saturday delivery, provisioning same-day service. Tip your mailman well this Christmas, because the Postal Service is on track to have less than a four-day supply of cash on hand by the end of the fiscal year, one that is all but certain to see more post offices close.

That means opportunity, and pricing power, for UPS and FedEx (FDX). “They are the modern-day equivalents of the pick-and-shovel sellers to the old California gold rush,” says Paul Price, a former Merrill Lynch and A.G. Edwards broker who now manages his own money. “They win regardless of which Internet-related retailer makes the sale.” One UPS store manager I spoke with (off the record, per company policy) said customers have been asking him left and right about Saturday pricing.

Price says that UPS now trades at its second-lowest valuation in two decades, and with one of the highest current dividend yields ever. Since the start of the current bull market three and a half years ago, UPS, a true cyclical, has lagged the Standard & Poor’s 500-stock index’s total return by a hefty 12 percentage points. Price thinks UPS is primed to rally 25 percent to 30 percent in the year ahead.

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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.”

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