Former City regulator knighted

28 December 2012 Last updated at 19:06 ET

A former head of the Financial Services Authority and a founding member of the Bank of England’s Monetary Policy Committee have been recognised in the New Year Honours.

Hector Sants, who was in charge of regulation at the start of the credit crisis, has been knighted.

It is in recognition for services to financial regulation.

Alan Budd, who was on the first Monetary Policy Committee in 1997, becomes a Knight of the Grand Cross.

Sir Hector said his award was a “testament to the hard work of everyone at the FSA during the crisis, their willingness to learn lessons and to bring about the changes that were necessary”.

Sir Hector began his City career as a stockbroker at Phillips and Drew, later taking senior positions at the investment banks UBS and Credit Suisse.

He took the job as head of the FSA two months before the collapse of Northern Rock in 2007, which was followed by huge government bailouts for two leading banks, Royal Bank of Scotland and Lloyds TSB.

MPs criticised the FSA for its handling of regulation during the credit crunch and accused it of being “asleep at the wheel”, but he has also been praised for his work at the regulator and for pressing banks to boost their reserves.

Sir Hector is joining Barclays bank in January to improve the bank’s reputation with governments and regulators internationally.

He will be directly responsible for making sure all its 140,000 staff obey the law in the more than 50 countries where it operates and that it is held in higher esteem by governments and regulators.

While at the FSA, Sir Hector personally warned the then chairman of Barclays, Marcus Agius, that Bob Diamond might not be a suitable choice to become the bank’s chief executive in 2010.

He also conveyed the FSA’s worries about the bank’s culture, including the attitudes of its most senior staff to risk-taking, tax laws and banking regulations.

Earlier this year, the FSA fined Barclays £59.5m for its part in the Libor rate-rigging scandal, after which Mr Diamond left the left the bank.

Entrepreneurship recognised

Sir Alan, a professor of economics, was also the first chairman of the government’s independent forecasting body, the Office for Budget Responsibility (OBR), but left after just three months in the job.

He was an adviser to Chancellor Norman Lamont during the Exchange Rate Mechanism crisis of the early 1990s and headed the inquiry into whether former Home Secretary David Blunkett misused his position.

He also headed the inquiry into the UK’s gambling laws which led to their liberalisation.

Sir Alan Budd’s career has also linked him with Barclays and Credit Suisse.

He was senior economic adviser to Barclays in 1989-1991, and is currently a senior adviser to Credit Suisse First Boston.

He was knighted in 1997.

Industry and the economy make up 12% of the New Year Honours list, with Priscilla Newell, Chair of the Royal Mail Pension Trustees, becoming a dame and Sherry Coutu, a long-time supporter of UK start-ups, a CBE for services to entrepreneurship.

Harriet Vine and Rosie Wolfenden, co-founders of cult jewellery brand Tatty Devine are made MBEs.

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C. African Republic neighbors to send help

BANGUI, Central African Republic (AP) — Central African Republic’s neighbors agreed on Friday to dispatch a contingent of soldiers to intervene in the troubled country, where a coalition of rebel groups is seeking to overthrow the president of nearly a decade.

Representatives from the 10-nation Economic Community of Central African States meeting in Gabon, though, did not specify how many troops they could contribute nor did they outline how quickly the military assistance would arrive.

President Francois Bozize had pleaded for international help Thursday as fears grew that the rebels would attack the capital of 600,000 next. Former colonial power France already has said that its forces in the country are there to protect French interests and not Bozize’s government.

“We are now thinking about the arrangements to make so that this mission can be deployed as quickly as possible, said Gabon’s Foreign Affairs Minister Emmanuel Issoze-Ngondet.

The announcement came as military officials in Central African Republic reported renewed fighting in the third largest city of Bambari, which fell under rebel control five days ago.

The military said it had taken country of the town, located about 385 kilometers (240 miles) from the capital, a claim that could not be immediately corroborated.

The ongoing instability prompted the United States to evacuate about 40 people, including the U.S. ambassador, on an U.S. Air Force plane bound for Kenya, said U.S. officials who insisted on anonymity because they weren’t authorized to discuss the operation.

The United States has special forces troops in the country who are assisting in the hunt for Joseph Kony, the fugitive rebel leader of another rebel group known as the Lord’s Resistance Army. The U.S. special forces remain in the country, the U.S. military’s Africa Command said from its headquarters in Stuttgart, Germany.

The evacuation of the U.S. diplomats came in the wake of criticism of how the U.S. handled diplomatic security before and during the attack on its consulate in Benghazi, Libya, on Sept. 11. The ambassador and three other Americans were killed in that attack.

French diplomats are staying despite a violent demonstration outside its embassy earlier this week. Dozens of protesters, angry about a lack of help against rebel forces, threw rocks at the French Embassy in Bangui and stole a French flag. French Foreign Minister Laurent Fabius spoke via phone with Bozize, asking him to take responsibility for the safety of French nationals and diplomatic missions in Central African Republic.

Bozize on Thursday urgently called on former colonial ruler France and other foreign powers to help his government fend off rebels who are quickly seizing territory and approaching the capital. But French President Francois Hollande said France wants to protect its interests in Central African Republic and not Bozize’s government.

This landlocked nation of some 4.4 million people has suffered decades of army revolts, coups and rebellions since gaining independence in 1960 and remains one of the poorest countries in the world. The current president himself came to power nearly a decade ago in the wake of a rebellion in this resource-rich yet deeply poor country.

Speaking to crowds in Bangui, a city of some 600,000, Bozize pleaded with foreign powers to do what they could. He pointed in particular to France. About 200 French soldiers are already in the country, providing technical support and helping to train the local army, according to the French defense ministry.

“France has the means to stop (the rebels) but unfortunately they have done nothing for us until now,” Bozize said.

Bozize’s government earlier reached out to longtime ally Chad, which pledged to send 2,000 troops to bolster Central African Republic’s own forces.

The rebels behind the most recent instability signed a 2007 peace accord allowing them to join the regular army, but insurgent leaders say the deal wasn’t fully implemented. The rebel forces have seized at least 10 towns across the sparsely populated north of the country, and residents in the capital now fear the insurgents could attack at any time, despite assurances by rebel leaders that they are willing to engage in dialogue instead of attacking Bangui.

The rebels have claimed that their actions are justified in light of the “thirst for justice, for peace, for security and for economic development of the people of Central African Republic.”

Despite Central African Republic’s wealth of gold, diamonds, timber and uranium, the government remains perpetually cash-strapped.

The rebels also are demanding that the government make payments to ex-combatants, suggesting that their motives may also be for personal financial gain.

Paris is encouraging peace talks between the government and the rebels, with the French Foreign Ministry noting in a statement that negotiations are due to “begin shortly in Libreville (Gabon).” But it was not immediately clear if any dates have been set for those talks.

The U.N.’s most powerful body condemned the recent violence and expressed concern about the developments.

“The members of the Security Council reiterate their demand that the armed groups immediately cease hostilities, withdraw from captured cities and cease any further advance towards the city of Bangui,” the statement said.

___

Goma reported from Libreville, Gabon. Associated Press writers Krista Larson in Dakar, Senegal; and Jason Straziuso in Nairobi, Kenya contributed to this report.

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Windows Phone Store doubled in size this year

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FBI removes many redactions in Marilyn Monroe file

LOS ANGELES (AP) — The FBI has re-issued files it kept on Marilyn Monroe, removing dozens of redactions from entries related to surveillance of the actress for communist ties.

A large section of the files obtained by The Associated Press focuses on Monroe’s 1962 trip to Mexico and her emerging friendship with Frederick Vanderbilt Field, who was disinherited from his wealthy family for leftist views. Field was Monroe’s guide on a trip in which she furniture-shopped for her new home.

The AP appealed the redactions in the file as part of a series of stories on the 50th anniversary of Monroe’s death in 1962, but the bureau previously said it no longer had access to the files. The bureau issued a new version after a request for details on the records’ locations.

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Program helps veterans reintegrate through music

MONTCLAIR, N.J. (AP) — During stressful times as a combat medic in Afghanistan, Mason Sullivan found solace in Vivaldi. New Jersey native Nairobi Cruz was comforted by country music, a genre she had never heard before joining the Army. For Jose Mercedes, it was an eclectic iPod mix that helped him cope with losing an arm during a tour of duty in Iraq.

These three young veterans all say music played a crucial role in alleviating the stresses of active duty. Now, all three are enrolled in a program that hopes to use music to ease their reintegration into civilian life.

“It’s a therapy session without the ‘sit down, lay down, and write notes,’” Mercedes, 26, of Union City, said of the music program. “It’s different — it’s an alternative that’s way better.”

The pilot program, called Voices of Valor, has veterans work as a group to synthesize their experiences into musical lyrics. Guided by musicians and a psychology mentor, they write and record a song, and then hold a CD release party. The program is currently under way at Montclair State University, where students participate through the school’s veteran affairs program.

Developed by husband and wife team Rena Fruchter and Brian Dallow, it is open to veterans of any age and background. No musical experience is required.

Both accomplished musicians, Fruchter and Dallow created the program as part of Music for All Seasons, an organization they founded which runs musical programs for audiences at places ranging from nursing homes to prisons.

Based on their experiences working with children at shelters for victims of domestic violence, Fruchter and Dallow realized that young people too traumatized to talk about what they had been through were nevertheless willing to bang on an instrument or sing — often leading to communication breakthroughs. They felt the same might be true for veterans, or other populations traditionally averse to more overt forms of ‘talk therapy.’

“We’ve had situations in which veterans have been carrying their burdens deep inside for such a long time, and they come into this group and they begin to talk about things that they’ve never talked about before,” Fruchter said. “They really open up, and it translates into some music that is really amazing and incredible and powerful.”

During a recent session of the eight-week program in Montclair, music facilitators Jennifer Lampert, a former Miss USO, and Julio Fernandez, a musician and member of the band Spyro Gyra, lead a small group of young veterans in brainstorming about their experiences.

“Tired of being angry,” ”Easier not to move on,” ”The war at home,” were phrases Lampert extracted from a discussion among the participants and she wrote each phrase in marker on large notepads fastened to a classroom blackboard. As they spoke, Fernandez strummed an acoustic guitar while Lampert sang some of the phrases the students had come up with, adjusting the beat and tempo at their suggestion. Suddenly, a musical lyric emerged: “Sometimes, I wish the past is where I stayed.”

A few weeks later, the group gathered at a sound studio in Union City, where they donned headphones and clearly relished the opportunity to record their collectively written tune, “Freedom,” in a professional studio.

“To see music heal people in that way, it’s beautiful, and the real incredible part is you don’t have to do anything but give in to the music,” Lampert said. She recounted how, time and again, the facilitators of the program had watched some participants start the class with shoulders slumped, hesitant to make eye contact, and afraid to speak up. Through the process of writing music they changed, she said, into group-focused, smiling, active participants unafraid to stand up and belt out a tune.

7/87/8_____

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Stock futures drop before last-ditch effort at “cliff” deal

NEW YORK (Reuters) – Stock index futures fell on Friday as President Barack Obama and top lawmakers planned to make a last-ditch effort at budget talks to prevent the United States from going over the “fiscal cliff.”

Obama and lawmakers will meet at the White House Friday afternoon for talks before a New Year’s deadline to keep large tax hikes and spending cuts from taking effect and threatening the economy with recession.

Investors showed their skepticism about a deal coming in time as the benchmark S&P 500 index was on track for a fifth straight decline.

“Obviously all eyes will be on Washington and the headlines coming out of Washington will dictate today’s market movement,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

“You do have some economic data coming in, but the market is probably not going to pay much attention to that. The big thing is whether Washington will reach a deal by Monday.”

U.S. stocks fell for a fourth straight session on Thursday but managed to recover most of their earlier losses after the House of Representatives, in the barest sign of progress, said it would return to Washington on Sunday night to work on avoiding the cliff.

Highlighting market sensitivity to cliff headlines, on Thursday stocks fell more than 1 percent earlier after Senate Majority Leader Harry Reid warned a deal was unlikely before the deadline.

With many market participants away for the holiday-shortened week, volume is expected to remain light, which could exacerbate market swings.

S&P 500 futures fell 8.5 points and were below 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 lost 67 points, and Nasdaq 100 futures dropped 12.5 points.

Economic data expected on Friday includes Chicago PMI for December at 9:45 a.m. while the National Association of Realtors issues Pending Home Sales for November at 10 a.m. Economists in a Reuters survey forecast a reading of 51 for the main PMI index and a 1 percent rise in pending home sales.

MagicJack Vocaltec Ltd forecast over $ 39 million in GAAP revenue and over 70 cents per share in operating income for the fourth quarter and appointed Gerald Vento president and CEO, effective January 1.

European shares drifted lower in thin trade on Friday, showing little faith among investors that new talks can avert at least some version of a New Year budget crunch in the United States. <.eu></.eu>

The yen fell to its lowest level in more than two years, lifting Japanese stocks to 21-month highs on expectations of drastic monetary easing, while shares in the rest of Asia rose as Washington races to avoid a fiscal crisis.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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C. African Republic president seeks foreign help

BANGUI, Central African Republic (AP) — The president of Central African Republic on Thursday urgently called on France and other foreign powers to help his government fend off rebels who are quickly seizing territory and approaching the capital, but French officials declined to offer any military assistance.

The developments suggest Central African Republic could be on the brink of another violent change in government, something not new in the history of this resource-rich, yet deeply impoverished country. The current president, Francois Bozize, himself came to power nearly a decade ago in the wake of a rebellion.

Speaking to crowds in Bangui, a city of some 600,000, Bozize pleaded with foreign powers to do what they could. He pointed in particular to France, Central African Republic’s former colonial ruler.

About 200 French soldiers are already in the country, providing technical support and helping to train the local army, according to the French defense ministry.

“France has the means to stop (the rebels) but unfortunately they have done nothing for us until now,” Bozize said.

French President Francois Hollande said Thursday that France wants to protect its interests in Central African Republic and not Bozize’s government. The comments came a day after dozens of protesters, angry about a lack of help against rebel forces, threw rocks at the French Embassy in Bangui and stole a French flag.

Paris is encouraging peace talks between the government and the rebels, with the French Foreign Ministry noting in a statement that negotiations are due to “begin shortly in Libreville (Gabon).” But it was not immediately clear what, if any, dates have been set for those talks.

French Foreign Minister Laurent Fabius, meanwhile, spoke via phone with Bozize, asking the president to take responsibility for the safety of French nationals and diplomatic missions in Central African Republic.

U.S. officials said Thursday the State Department would close its embassy in the country and ordered its diplomatic team to leave. The officials spoke on condition of anonymity because they were unauthorized to discuss the evacuation publicly.

The United Nations Security Council issued a press statement late Thursday reiterating its concern about the situation in the country and condemned the attacks.

“The members of the Security Council reiterate their demand that the armed groups immediately cease hostilities, withdraw from captured cities and cease any further advance towards the city of Bangui,” the statement reads.

Bozize’s government earlier reached out to longtime ally Chad, which pledged to send 2,000 troops to bolster Central African Republic’s own forces. But it was unclear if the Chadian troops had all arrived, and even then, it is far from certain if the combined government forces could withstand rebel attacks.

At least four different rebel groups are involved, though their overall numbers could not immediately be confirmed.

Central African Republic, a landlocked nation of some 4.4 million people, is roughly the size of France. It has suffered decades of army revolts, coups and rebellions since gaining independence in 1960 and remains one of the poorest countries in the world.

The rebels behind the most recent instability signed a 2007 peace accord allowing them to join the regular army, but insurgent leaders say the deal wasn’t fully implemented.

Already, the rebel forces have seized at least 10 towns across the sparsely populated north of the country, and residents in the capital now fear the insurgents could attack at any time, despite assurances by rebel leaders that they are willing to engage in dialogue instead of attacking Bangui.

The rebels have claimed that their actions are justified in light of the “thirst for justice, for peace, for security and for economic development of the people of Central African Republic.”

Despite Central African Republic’s wealth of gold, diamonds, timber and uranium, the government remains perpetually cash-strapped. Filip Hilgert, a researcher with Belgium-based International Peace Information Service, said rebel groups are unhappy because they feel the government doesn’t invest in their areas.

“The main thing they say is that the north of the country, and especially in their case the northeast, has always been neglected by the central government in all ways,” he said.

But the rebels also are demanding that the government make payments to ex-combatants, suggesting that their motives may also be for personal financial gain.

Bozize, a former military commander, came to power in a 2003 rebel war that ousted his predecessor, Ange-Felix Patasse. In his address Thursday, Bozize said he remained open to dialogue with the rebels, but he also accused them and their allies of financial greed.

Those allies, he implied, are outside Central African Republic.

“For me, there are individuals who are being manipulated by an outside hand, dreaming of exploiting the rich Central African Republic soil,” he said. “They want only to stop us from benefiting from our oil, our diamonds, our uranium and our gold.”

___

Larson reported from Dakar, Senegal. Associated Press writer Sarah DiLorenzo in Paris contributed to this report.

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So You Just Got a Wii U. Now What?

Pair It With Your TV

One of the most useful features of the Wii U — and what could make it a staple of our connected living rooms — is its ability to hook in to the entertainment ecosystem seamlessly. When you start up your Wii U for the first time, you’ll be prompted to enter your television and cable box brands. In a surprisingly painless process (you only need the brand name of your TV, not the model number), your Wii U GamePad becomes a very useful remote control. It will be the only thing you have to touch when turning your system and television on in the future. When the Wii U’s television and video on demand aggregation dashboard comes fully online, that remote will be even more useful as you use it select shows on your DVR, video-on-demand services like Netflix, or live TV.

Click here to view this gallery.

[More from Mashable: 10 iPad Cases With Convenient Hand Grips]

Since the holiday gift-giving period is over, many of you might be fortunate enough to have received a brand new Wii U.

Nintendo’s latest console is quite different from other gaming consoles, and there are lots of great ways for you to take advantage of it. There are already a wide variety of games coming out for the Wii U, so you have a plethora of entertainment options as soon as you take it out of the box.

[More from Mashable: 8 Startups to Watch in 2013]

We’ve compiled a list of tips for first-time Wii U owners that should make your setup and first few days much easier. We’ve included a few games to try, as well.

Are you setting up a Wii U for the first time? Share any of your thoughts and tips in the comments.

Thumbnail image courtesy nubobo, Flickr.

This story originally published on Mashable here.

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Marvel’s Peter Parker in perilous predicament

PHILADELPHIA (AP) — After 50 years of spinning webs and catching a who’s who of criminals, Peter Parker is out of the hero game.

But Spider-Man is still slinging from building to building — reborn, refreshed and revived with a new sense of the old maxim that Ben Parker taught his then-fledgling nephew that “with great power, comes great responsibility.”

Writer Dan Slott, who’s been penning Spidey adventures for the better part of the last 100 issues for Marvel Entertainment, said the culmination of the story is a new, dramatically different direction for the Steve Ditko and Stan Lee-created hero.

“This is an epic turn,” Slott said. “I’ve been writing Spider-Man for 70-plus issues. Every now and then, you have to shake it up. … The reason Spider-Man is one of the longest running characters is they always find a way to keep it fresh. Something to shake up the mix.”

And in the pages of issue 700, out Wednesday, it’s not just shaken up, it’s turned head over heels, spun in circles, kicked sky high and cracked wide open.

Parker’s mind is trapped in the withered, decaying dying body of his nemesis, Doctor Octopus aka Otto Octavius. Where’s Doc Ock? Inside Parker’s super-powered shell, learning what life is like for the brilliant researcher who happens to count the Avengers and Fantastic Four as friends and family.

The two clash mightily in the pages of issue 700, illustrated by Humberto Ramos and Victor Olazaba. But it’s Octavius who wins out and Parker is, at least for now, gone for good, but not before one more act of heroism.

Slott said that it’s Parker, whose memories envelop Octavius, who shows the villain what it means to be a hero.

“Gone are his days of villainy, but since it’s Doc Ock and he has that ego, he’s not going to try and just be Spider-man, he’s going to try to be the best Spider-Man ever,” said Slott.

Editor Stephen Wacker said that while Parker is gone, his permanence remains and his life casts a long shadow.

“His life is still important to the book because it affects everything that Doctor Octopus does as Spider-Man. Seeing a supervillain go through this life is the point — trying to be better than the hero he opposed,” Wacker said.

“Doc has sort of inspired by Peter’s life. That’s what I mean when he talks about the shadow he casts,” he said.

The sentiment echoes what Uncle Ben said in the pages of “Amazing Fantasy” No. 15, Slott said.

Editor Stephen Wacker called it a fitting end to the old series, which sets the stage for a new one — “The Superior Spider-Man” early next year — because it brings Peter Parker full circle, from the start of his crime-fighting career to the end.

“In his very first story, his uncle died because of something he did so the book has always been aimed at making Peter’s life as difficult as possible,” Wacker said. “The book has always worked best when it’s about Peter Parker’s life, not Spider-Man’s.”

And with Octavius influenced by Parker’s life — from Aunt May to Gwen Stacy to Mary Jane — it will make him a better person, too.

“Because Doctor Octopus knows all of those things and will make decisions on what he saw Peter going through,” Wacker said. “In a way, he gets the ultimate victory as he becomes a better hero.”

___

Follow Matt Moore at www.twitter.com/MattMooreAP

___

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Dentist Office Doubles as a Beauty Spa

Dec 27, 2012 6:58am

Scary lights, intrusive equipment and high-pitched sounds that make you squirm are what normally come to mind when one thinks of a visit to the dentist’s office.

Not so for the patients of Dr. Patty’s Dental Boutique in Ft. Lauderdale, Fla., a dentist office that doubles as a beauty spa.

“There are about 30 to 40 million Americans who suffer from dental anxiety,” Dr. Patty, whose real name is April Patterson, told ABC News’ Bianna Golodryga.  “I wanted to do everything I can to make those clients feel like they are not at the dentist.”

To do that, Patterson created an office that is definitely not your father’s dentist’s office.  Her version features treatments you’d get at your everyday spa – from facials to massages to eyelash extensions and a brow bar – along with the typical dental work.

“I offer high-end, quality dental services along with a full menu of spa services,” Patterson said.

“I can give you a great example of how all the services kind of work together,” she said.  “A client is coming in to have their dental veneers done. They come in an hour early [and] they can have a facial or a massage while their valium takes effect. They come in to start their dental procedure and they’re nice and relaxed.”

A typical client is one like Christina Carter, who came to Patterson’s office to have her braces removed but stayed for a scheduled facial.

“A busy professional like myself, it’s a one-stop shop where I can get my dental work done and I can also get a facial and massage and just relax,” Carter told ABC News.  “When you’re busy, it’s just so nice to have everything all at one spot.”

It’s not just women like Carter, however, who appreciate the one-stop solution Patterson has built.  Men like Andrew Heller, who came in for veneers but left with Botox, as well, are also her clients.

“I’m thrilled,” Heller said of his new look after Patterson put filler around his mouth and injected Botox in his forehead.

“It turned out better than I could have imagined, but it took her a tremendous amount of convincing to do more than just enhancing the teeth,” he said.

For Patterson, her combination dental office and spa is about more than just cosmetics.

“This is not just about teeth,” she said.  “This is also about building confidence and changing lives.”

SHOWS: Good Morning America

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