Friday, December 2, 2011

Egypt Islamists expect gains in post-Mubarak poll (Reuters)

CAIRO (Reuters) ? Egyptians voted on Tuesday in a parliamentary election that Islamists hope will sweep them closer to power, even though the army generals who took over from President Hosni Mubarak have yet to step aside.

The election, the first since a revolt ousted Mubarak on February 11, unfolded without the mayhem many had feared after last week's riots against army rule in which 42 people were killed.

General Ismail Atman, a ruling army council member, said he had no firm figure, but that turnout would exceed 70 percent of the 17 million Egyptians eligible to vote in the first round that began on Monday. "I hope it will reach more than 80 percent by the end of the day," he told Al Jazeera television.

Atman was also quoted by Al-Shorouk newspaper as saying the election showed the irrelevance of protesters demanding an end to military rule in Cairo's Tahrir Square and elsewhere.

Les Campbell, of the Washington-based National Democratic Institute, one of many groups monitoring the poll, said earlier it was "a fair guess" that turnout would exceed 50 percent, far above the meager showings in rigged Mubarak-era elections.

The United States and its European allies are watching Egypt's vote torn between hopes that democracy will take root in the most populous Arab nation and worries that Islamists hostile to Israel and the West will ride to power on the ballot box.

They have faulted the generals for using excessive force on protesters and urged them to give way swiftly to civilian rule.

The well-organized Muslim Brotherhood, banned but semi-tolerated under Mubarak, said its political wing, the Freedom and Justice Party (FJP), had done well in the voting so far.

"The Brotherhood party hopes to win 30 percent of parliament," senior FJP figure Mohamed El-Beltagy told Reuters.

The leader of the ultra-conservative Salafi Islamist al-Nour Party, which hopes to siphon votes from the Brotherhood, said organizational failings meant the party had under-performed.

"We were not dispersed across constituencies, nor were we as close as needed to the voter. Other parties with more experience rallied supporters more effectively," Emad Abdel Ghafour said in the coastal city of Alexandria, seen as a Salafi stronghold.

But he told Reuters the party still expected to win up to half of Alexandria's 24 seats in parliament and 70 to 75 nationwide out of the assembly's 498 elected seats.

Abou Elela Mady, head of the moderate Islamist Wasat Party, made no predictions, but praised the turnout and said the party would accept the result despite electoral violations.

Soldiers guarded one banner-festooned Cairo voting station, where women in Islamic headscarves or Western clothes queued with their families. Judges kept an amiable eye on proceedings.

ISLAMIST VOTE-GETTERS

Islamists did not instigate the Arab uprisings that have shaken Tunisia, Egypt, Libya, Syria and Yemen, but in the last two months, Islamist parties have come out top in parliamentary elections in Morocco and post-revolutionary Tunisia.

Egyptian Islamists want to emulate those triumphs, but it is unclear how much influence the previously toothless parliament in Cairo can wield while the generals remain in power.

If the election process goes smoothly, the new assembly will enjoy a popular legitimacy the generals lack and may assert itself after rubber-stamping Mubarak's decisions for 30 years.

"Real politics will be in the hands of the parliament," said Diaa Rashwan, an Egyptian political analyst.

One general has said parliament will have no power to remove an army-appointed cabinet due to run Egypt's daily affairs until a promised presidential poll heralds civilian rule by July.

The army council assumed Mubarak's formidable presidential powers when it eased him from office on February 11. Many Egyptians praised the army's initial role, but some have grown angry at what they see as its attempts to retain its perks and power.

ELECTORAL VIOLATIONS

The election is taking place in three regional stages, plus run-off votes, in a complex system that requires voters to choose individual candidates as well as party lists. Full results will be announced after voting ends on January 11.

Election monitors have reported logistical hiccups and campaign violations but no serious violence.

Armed with laptops and leaflets, party workers of the Muslim Brotherhood's political wing and its Islamist rivals have approached muddled voters to guide them through the balloting system and nudge them toward their candidates.

In the Nile Delta town of Kafr el-Sheikh, Muslim Brotherhood workers were selling cut-price food in a tent where they also distributed flyers naming the FJP candidates in the area.

Some Egyptians yearn for a return to stability, uneasy about the impact of political turmoil on an economy heading toward a crisis sure to worsen the hardship of impoverished millions.

Others worry that resurgent Islamist parties may dominate political life, mold Egypt's next constitution and threaten social freedoms in what is already a deeply conservative nation of 80 million people whose 10 percent Coptic Christian minority complains of discrimination from the Muslim majority.

Copts, like Muslims, were voting in greater numbers than in the Mubarak era. "Before, the results were known in advance, but now we have to choose our fate," said Wagdy Youssef, a 45-year-old company manager in Alexandria.

"Copts like others want civilian rule," he said. "I voted for Muslims because they represented moderate views and stayed away from a few Christians on the lists I saw as extremist."

As voting resumed in the chilly, rain-swept coastal town of Damietta, Sayed Ibrahim, 30, said he backed the liberal Wafd Party over its main local rival, the Salafi Nour Party.

"I'm voting for Wafd because I don't want an ultra-religious party that excludes other views," he said, in jeans and a cap.

(Additional reporting by Marwa Awad in Alexandria, Shaimaa Fayed in Damietta and Tom Perry, Patrick Werr, Peter Millership and Edmund Blair in Cairo; Writing by Alistair Lyon; Editing by Peter Millership)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20111129/wl_nm/us_egypt_election

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Thursday, December 1, 2011

HBT: Red Sox reportedly to hire Valentine

UPDATE:?He?s back. Gordon Edes of ESPN Boston confirms that Bobby Valentine will indeed be the next manager of the Red Sox.

Valentine?was offered the job while he was away on personal business in Japan and immediately accepted.?He is expected to fly back home tomorrow while CSNNE.com reports that he will likely be introduced as Boston?s new skipper during a press conference Thursday.

Valentine, now 61 years old, hasn?t managed in the majors since 2002. He has a 1117-1072 record (.510) over 15 seasons between the Rangers and Mets.

While Valentine has his fair share of critics (and enemies) around the game, baseball is more fun with him in the dugout. Or at least more interesting. And with the Red Sox still reeling from one of the worst collapses in baseball history, this will be a fascinating situation to watch.

7:13 PM: Nothing official from the team yet, but?Mike Lynch of?WCVB-TV in Boston is reporting that the Red Sox and Bobby Valentine have reached a ?verbal agreement? for him to be the team?s next manager.

We have heard conflicting reports this afternoon about whether Tigers third base coach?Gene Lamont is still in the mix for the job. As of this evening, Lamont was told that he is still a candidate.

Valentine is expected to return from Japan tomorrow, so we?ll likely hear something official in the next 24 hours.

Source: http://hardballtalk.nbcsports.com/2011/11/29/report-red-sox-and-bobby-valentine-have-reached-a-verbal-agreement/related/

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Egypt stock market spikes on elections (AP)

CAIRO, Egypt ? Egypt's stock market spiked early Tuesday, prompting a temporary suspension of trading, as Egyptians cast their ballots in a landmark parliamentary election that could serve as a milestone moment in the country's push to democracy.

The Egyptian Exchange's benchmark EGX30 index was up 5.45 percent by 11:35 a.m. local time, at 3,986 points. Trading was halted for about 25 minutes after the broader EGX100 index surged 5.01 percent within about 15 minutes of the start of trade. That index was up by 6 percent after trading resumed.

"We, as Egyptians, didn't expect the situation to play out like this," said Khaled Nagah, a senior broker at Mega Investments, referring to the elections that began on Monday and continued Tuesday. "There were expectations of violence, thugs and other troublemakers, but that hasn't happened."

The rally was a rare bit of good news in a market that has been among the worst performers in the world this year. Before the day's early rally, the EGX30 was down almost 48 percent so far this year, reflecting the broader troubles confronting the Egyptian economy in the months since Mubarak was driven from power in mid-February.

"This is the first time that Egyptians have felt this climate of democracy," Nagah said of the orderly way in which the voting was held on the first day of the election. "This gives people a sense of hope that their voices will be heard and that sense of optimism is contagious."

The massive turnout at the polls ? despite security concerns and turmoil over deadly protests and violence in the pre-election week ? has upstaged the demonstration that is continuing in Tahrir Square, downtown Cairo's roundabout that has served as the epicenter of the Jan. 25 uprising against Mubarak. The activists there are demanding that the country's military rulers step down and expedite the transition to a civilian government.

They have also complained about the newly appointed prime minister, Kamal El-Ganzouri, who had served in the same post under Mubarak in the 1990s. El-Ganzouri's appointment came after the previous interim civilian government resigned after days of violent clashes last week that left over 40 dead around the country ? with most of the fatalities in Cairo.

The near daily protests have ravaged Egypt's economy, battering the vital tourism sector, driving away foreign investors, put the Egyptian pound under pressure and sharply raised the country's borrowing costs and the costs of insuring its sovereign debt against default.

Late last week, ratings agency Standard & Poor's downgraded Egypt's sovereign rating by one notch, driving it deeper into junk status on the back of the clashes and expectation of continuing political instability.

Analysts were concerned the latest election for the parliament's lower house would be marred by violence or irregularities. But the biggest worry that has emerged for many Egyptians is that the conservative Muslim Brotherhood and other Islamist parties could walk away with a large share of the vote.

The voting is staggered over the next six weeks across Egypt's 27 provinces, divided into thirds with runoffs held a week after the first round in each location.

Officials have said that 500 pound ($83) fines would be levied against voters who fail to participate in the elections ? a hefty penalty in a country where rising prices and rampant poverty were main catalysts in sparking the uprising that pushed Mubarak from office.

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/ap/20111129/ap_on_bi_ge/ml_egypt_economy

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Woman denies 'Fix A Flat' butt injections

By Brian Hamacher, NBC Miami/WTVJ

The transgender woman accused of running a black market butt enhancement business that used Fix-a-Flat and cement for injections claims she's innocent and says her alleged victims are lying, according to a report by NBC Miami station WTVJ.

Oneal Ron Morris, 30, denied the toxic tush allegations in an interview with Entertainment Tonight, which aired late Wednesday.

"They didn't catch me doing anything so it's just allegations," Morris said. "I'm innocent, I really am innocent or whatever."

A Florida woman is facing charges of practicing medicine without a license after cops say she injected a woman's buttocks with cement, "Fix-a-Flat" and other substances during an illegal cosmetic procedure. WTVJ-TV's Donna Rapado reports.

Morris was arrested Nov. 18 on charges of practicing medicine without a license after an investigation by Miami Gardens Police and the Florida Department of Health.

Police say Morris, whose own rear end appeared to have been artificially enlarged, injected one woman in her buttocks with a substance consisting of the tire sealant, cement, mineral oil and super glue.

Since her arrest, more victims have come forward.

Cosmetic surgeon Dr. Anthony Youn speculated on the msnbc.com Vitals blog that Morris using polypropylene string implants for her own treatment.

Source: http://usnews.msnbc.msn.com/_news/2011/12/01/9141586-woman-denies-injecting-patients-buttocks-with-fix-a-flat

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Judge rejects $285M SEC-Citigroup settlement

A federal judge on Monday used unusually harsh language to strike down a $285 million settlement between Citigroup and the Securities and Exchange Commission, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from the details of what the firm did wrong.

U.S. District Judge Jed Rakoff said the public has a right to know what happens in cases that touch on "the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives." In such cases, the SEC has a responsibility to ensure that the truth emerges, he wrote.

Rakoff said he had spent hours trying to assess the settlement but concluded that he had not been given "any proven or admitted facts upon which to exercise even a modest degree of independent judgment." He called the settlement "neither fair, nor reasonable, nor adequate, nor in the public interest."

The SEC shot back in a statement issued by Enforcement Director Robert Khuzami, saying the deal was "fair, adequate, reasonable, in the public interest, and reasonably reflects the scope of relief that would be obtained after a successful trial."

The SEC had accused the bank of betting against a complex mortgage investment in 2007 ? making $160 million in the process ? while investors lost millions. The settlement would have imposed penalties on Citigroup but allowed it to deny allegations that it misled investors.

Citi said it was reviewing the decision and declined to comment.

The SEC's consent judgment settling the case was filed the same day as its lawsuit against Citigroup, the judge noted.

"It is harder to discern from the limited information before the court what the SEC is getting from this settlement other than a quick headline," the judge wrote.

"In much of the world, propaganda reigns, and truth is confined to secretive, fearful whispers," Rakoff said. "Even in our nation, apologists for suppressing or obscuring the truth may always be found. But the SEC, of all agencies, has a duty, inherent in its statutory mission, to see that the truth emerges; and if it fails to do so, this court must not, in the name of deference or convenience, grant judicial enforcement to the agency's contrivances."

He set a July 16 trial date for the case.

Khuzami said in the SEC statement that Rakoff made too much out of the fact that Citigroup did not have to admit wrongdoing. He said forcing Citigroup to give up profits, pay fines and face mandatory business reforms outweigh the absence of an admission "when that relief is obtained promptly and without the risks, delay and resources required at trial."

Khuzami added: "Refusing an otherwise advantageous settlement solely because of the absence of an admission also would divert resources away from the investigation of other frauds and the recovery of losses suffered by other investors not before the court."

Rakoff said the power of the judiciary was "not a free-roving remedy to be invoked at the whim of a regulatory agency, even with the consent of the regulated."

He added: "If its deployment does not rest on facts ? cold, hard, solid facts, established either by admissions or by trials ? it serves no lawful or moral purpose and is simply an engine of oppression."

In the civil lawsuit filed last month, the SEC said Citigroup Inc. traders discussed the possibility of buying financial instruments to essentially bet on the failure of the mortgage assets. Rating agencies downgraded most of the investments just as many troubled homeowners stopped paying their mortgages in late 2007. That pushed the investment into default and cost its buyers' ? hedge funds and investment managers ? several hundred million dollars in losses.

Earlier this month, Rakoff staged a hearing in which he asked lawyers on both sides to defend the settlement.

At the hearing, Rakoff questioned whether freeing Citigroup of any admission of liability could undermine private claims by investors who stand to recover only $95 million in penalties on total losses of $700 million.

In his decision, he called the penalties "pocket change" to a company the size of Citigroup and said that, if the SEC allegations are true, then Citigroup got a "very good deal." If they are untrue, the settlement would be "a mild and modest cost of doing business," he said.

This wasn't the first time that the judge struck down an SEC settlement with a bank, and Rakoff has made no secret of his disdain for settlements between the government agency and banks for paltry sums and no admission of guilt.

"The SEC's longstanding policy ? hallowed by history, but not by reason ? of allowing defendants to enter into consent judgments without admitting or denying the underlying allegations, deprives the court of even the most minimal assurance that the substantial injunctive relief it is being asked to impose has any basis in fact," he wrote in Monday's decision.

In 2009, Rakoff rejected a $33 million settlement between the SEC and Bank of America Corp. calling it a breach of "justice and morality." The deal was over civil charges accusing the bank of misleading shareholders when it acquired Merrill Lynch during the height of the financial crisis in 2008 by failing to disclose it was paying up to $5.8 billion in bonuses to employees even as it recorded a $27.6 billion yearly loss.

In February 2010, he approved an amended settlement for over four times the original amount, but was caustic in his comments about the $150 million pact, calling it "half-baked justice at best." He said the court approved it "while shaking its head."

Citigroup's $285 million would represent the largest amount to be paid by a Wall Street firm accused of misleading investors since Goldman Sachs & Co. agreed to pay $550 million to settle similar charges last year. JPMorgan Chase & Co. resolved similar charges in June and paid $153.6 million.

All the cases have involved complex investments called collateralized debt obligations. Those are securities that are backed by pools of other assets, such as mortgages.

Rakoff's ruling Monday was the latest in a series of setbacks for the SEC under the leadership of Chairman Mary Schapiro. Rakoff has said he doesn't believe the agency has been sufficiently tough in its enforcement deals with Wall Street banks over their conduct prior to the financial crisis.

The SEC told Rakoff recently that $285 million was a fair penalty, which will go to investors harmed by Citigroup's conduct, and that it was close to what the agency would have won in a trial.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/45464396/ns/business/

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Barney Frank not seeking re-election in 2012 (CNN)

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Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/167290714?client_source=feed&format=rss

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"Untouchable" challenging box office records in France (omg!)

LOS ANGELES (TheWrap.com) - "Untouchable," a comedy about a rich quadriplegic and his black caretaker, has become a certified box office phenomenon in France.

Financed by French distributor Gaumont, the biopic has racked up $90 million since it debuted November 2.

At this rate, it could unseat "Welcome to the Sticks" and "Titanic" as France's top-grossing film ever.

"It's extremely funny, but at the same time it's melodramatic, and you have people crying at the end," Cecile Gaget, director of international sales at Gaumont, told TheWrap. "It's about two people who you would not expect to get along, getting together to put their lives back together."

Gaget describes the film, which is known in France as "Intouchables," as a hybrid of "The King's Speech" and "Driving Miss Daisy."

Thus far, the movie has sold 10 million tickets. In comparison, "Welcome to the Sticks," a 2008 French comedy, sold 20 million tickets, while James Cameron's 1997 drama "Titanic" moved 19 million tickets.

"Welcome to the Sticks" went on to gross $193.7 million in France, while "Titanic" made $129 million, according to Box Office Mojo.

Working in "Untouchable"s' favor, the movie is racking up repeat business. A third of French moviegoers who have seen "Untouchable" before said they intend to see it a second time, Gaget told TheWrap.

The Weinstein Co. purchased remake rights to the film last July and plans to release the French film stateside. A spokesman for the studio said a release date has not been set.

The deal gives the Weinstein Co. rights in the United Kingdom, Australia, New Zealand, Scandinavia, South Africa and China, as well as distribution rights for pan-Asian satellite television.

Apart from France, Gaumont has sold the remaining foreign rights to the picture.

In the film, Francois Cluzet plays the wealthy man who is disabled in a paragliding accident, while Omar Sy plays the young man from the wrong side of the tracks who he hires to help him. Olivier Nakache and ?ric Toledano co-directed.

"Untouchable" won the best film prize at this year's Tokyo International Film Festival and has received strong reviews.

The film has also been released in by Victory in Belgium and by Frenetic in Switzerland, where it has sold 256,000 and 165,000 tickets, respectively. It will next be released in Germany on January 5, before going to Spain in March.

"It's totally international," Gaget said. "If Germany works, then it will work everywhere."

Source: http://us.rd.yahoo.com/dailynews/rss/entertainment/*http%3A//us.rd.yahoo.com/dailynews/external/omg_rss/rss_omg_en/news_untouchable_challenging_box_office_records_france160700050/43758501/*http%3A//omg.yahoo.com/news/untouchable-challenging-box-office-records-france-160700050.html

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