Amazon’s spending spree to hurt margins now, boost profit later: analysts

(Reuters) – Amazon.com Inc‘s spending spree will hurt margins in the near term but boost profit in the long run, analysts said, after the world’s No.1 internet retailer posted a loss on heavy spending on technology, infrastructure and digital content.Amazon shares were set to open about 2 percent higher on Friday even though the company forecast weak sales ahead of...

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Jill Scott to star in Fox Searchlight’s ‘Baggage Claim’

NEW YORK (TheWrap.com) – Jill Scott, the Grammy-winning neo soul singer-songwriter, will star in “Baggage Claim” for Fox Searchlight, the studio announced on Thursday.She will appear alongside Paula Patton and Derek Luke in this romantic comedy from writer/director David E. Talbert. Patton will play Montana Moore, a flight attendant who tries...

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First Person: A Supportive Partner Makes All the Difference when Fighting Breast Cancer

To mark Breast Cancer Awareness Month, Yahoo News asked women who have had breast cancer or are going through treatment to write about the people in their lives who stood by them and cared for them. Here’s one story.FIRST PERSON | It was Feb. 19, 2007, when I was told I had breast cancer. I was just 32, with two children, Adam, 4, and Kaitlyn,...

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Moody’s warns may downgrade five big Canadian banks

NEW YORK/TORONTO (Reuters) – Moody’s Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row.But the outlook for the sector is no longer as rosy, Moody’s said, because of the risks presented...

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Amnesty Int: Ivory Coast torturing detainees

ABIDJAN, Ivory Coast (AP) — Ivory Coast security officials are torturing dozens of detainees by administering electric shocks and other forms of abuse, Amnesty International alleged Friday.The victims include people charged with endangering state security in the wake of a recent spate of attacks targeting military installations. Since early August, unknown gunmen have...

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Management: Lil Wayne hospitalized and released

NEW YORK (AP) — Lil Wayne‘s management team says the rapper is on “mandated rest” after a severe migraine and dehydration caused him to be hospitalized.In a statement released Friday, the Blueprint Group says Lil Wayne was released from the hospital treatment and will return to work soon. They added that the New Orleans-based rapper appreciates his fans’ support and...

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Bayer cancels diabetes device unit sale: paper

FRANKFURT (Reuters) – Bayer AG has called off the sale of its blood glucose meters business for now, Financial Times Deutschland reported, citing industry and financial sources.According to the paper, Germany‘s largest drugmaker could not find a buyer who was willing to pay the asking price. The unit has annual sales of about 1 billion euros...

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Gazans blast Israel with rockets, draws airstrikes

JERUSALEM (AP) — Hamas militants in the Gaza Strip fired dozens of rockets and mortar shells into southern Israel on Wednesday in the heaviest bombardment on the area in months, drawing ominous Israeli threats of retaliation and dangers of escalation.The violence came a day after a landmark visit to Gaza by the emir of Qatar. Israeli officials suggested the visit,...

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Academy broadens reach with Nicholl screenwriting fellowships

LOS ANGELES (TheWrap.com) – This year’s Academy of Motion Picture Arts and Sciences‘ Nicholl Fellowship for Screenwriting saw a record 7,197 scripts boiled down to five winners.Each of the five writers – four Americans and one South African – will receive a $ 35,000, the first installment of which will be given at a gala in Beverly Hills on November 8. It was the...

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Facebook wins back friends on Wall Street, shares soar

(Reuters) – Facebook Inc’s shares headed towards their biggest one-day jump on Wednesday after the company reported a surprising rise in mobile advertising, easing concerns it was having trouble capitalizing on soaring use of smartphones and tablets.Facebook shares were up 21 percent at $ 23.55 in afternoon trade. They were sold for $ 38 each in their initial public...

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