Construction output decline slows







Output in the UK construction industry fell in October, down 5.1% from the same month last year, according to the Office for National Statistics (ONS).






Compared with the previous month, construction output rose 8.3%.


Construction is a component of gross domestic product (GDP), which measures the value of everything produced in the economy.


This figure is the first contributor to the eagerly-awaited fourth quarter GDP, which will be released next month.


The year-on-year construction output figure has fallen for 14 of the past 15 months, although October’s fall was the smallest decline since February.


Output had dropped 13.2% in September, compared with September 2011.


Figures for each of the 12 previous months were revised by the ONS, although it said the revisions had had a “negligible” effect on GDP figures.


The month-on-month growth mirrors the result of the Markit/CIPS Construction Purchasing Managers’ Index for October, which was released last month and suggested fractional growth in the sector.


At the time, Markit economist Tim Moore said: “The bigger picture remains bleak,”


The Office for Budget Responsibility has predicted that the UK economy will contract slightly in the whole of 2012, which would mean a negative reading for GDP for the last three months of the year.


The construction sector reading has a relatively small weighting in the GDP figures.


It is outweighed by the service sector, the October figures for which are due to be released on Friday 21 December.


BBC News – Business


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UPDATE 3-Cricket-Hughes shines as Australia reach 299-4






* Hughes falls just short of century


* Clarke and Hussey combine for 101






* Welegedera takes 3-99 (Adds quotes)


HOBART, Dec 14 (Reuters) – Phil Hughes made a solid 86 on his return to test cricket before Michael Clarke and Mike Hussey took up the running and steered Australia to 299 for four at close of play on the first day of the first test against Sri Lanka on Friday.


Hughes was the only batsmen to fall in the final session, lasting only a couple of overs after lunch before being bowled through the gate by Chanaka Welegedera, giving the Sri Lankan seamer his third wicket of the day.


Clarke, who had made 70 not out, and Hussey, unbeaten on 37, batted through the remainder of the day and if the evidence of their prolific partnerships in the recent series against South Africa is anything to go by, will take some shifting.


“Overall, 299 for four puts the ball in our court,” said Hughes. “I thought we were outstanding today. It really gives us momentum going into tomorrow.”


Sri Lanka’s bowlers, dubbed this week as the worst pace attack ever to tour Australia by former test bowler Rodney Hogg, made life uncomfortable for the batsmen at times but struggled for any real penetration under cloudy skies at Bellerive Oval.


“I think we showed we can put Australia under pressure and hopefully the bowlers will be fresh in the morning and we can get them out for less than 100 additional runs,” said Welegedera, who finished with 3-99 on his return after nine months out injured.


Clarke, who passed 1,400 runs for the year, has now put on 731 runs in partnerships with Hussey in the last four tests and will be looking to plunder a few more on Saturday despite taking a couple of painful knocks to his legs.


Friday, however, belonged to Hughes.


The lefthander was recalled to the side on the back of good domestic form following the retirement of Ricky Ponting at the end of the series against the Proteas.


The 24-year-old reached his fourth test half century with a square drive for three runs and then initially accelerated towards a century, most notably with an ugly but effective slog for six off spinner Rangana Herath.


CALAMITOUS RUNOUT


On the ground where his second spell as a test batsman ended amid questions about his technique after two failures against New Zealand last year, Hughes scored eight fours and one six in his 166-ball knock before Welegedera struck with a superb ball.


“It was nice to get a few,” he said. “It would have been nice to get a few more and get into three figures.”


Australia had lost openers Ed Cowan (four) and David Warner in the opening session, the latter run out for 57 on the stroke of lunch after a calamitous misunderstanding with Hughes.


Shane Watson, dropping down to fourth in the batting order to allow Hughes to come in at number three, followed them to the pavilion for 30 shortly before tea, the victim of an exceptional diving catch in the slips by skipper Mahela Jayawardene.


That was a second wicket for Welegedera and a measure of redemption for the bowler after he had Hughes caught behind for 77 only for the umpire to call a no ball.


Welegedera had also made the early breakthrough for the tourists when Cowan tried to pull a short delivery only for the ball to catch him high on the bat and carry to mid-on where Shaminda Eranga took a simple catch.


It could have been even better for the Sri Lankans, who were only centimetres away from the perfect start to the morning after Clarke had won the toss and elected to bat.


Cowan edged the second delivery of the day from Nuwan Kulasekara to the slips but Angelo Mathews was just unable to get his hands to it, despite an athletic dive. (Editing by Peter Rutherford)


Australia / Antarctica News Headlines – Yahoo! News


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iPad mini deemed a ‘game changer,’ outgrew Kindle Fire by nearly 50%






Smaller tablets in the 7-inch range have been on the market for more than two years now, but it looks like it took Apple (AAPL) just one month to vault to the top of the category. Mobile advertising firm Millennial Media recently published the findings of a study pitting the iPad mini against Amazon’s (AMZN) popular Kindle Fire, which has been an extremely popular iPad alternative since it first launched last year. According to Millennial, iPad mini usage grew about 50% faster during early November than the Kindle Fire did immediately following its successful launch last year, as measured by ad impressions served by the firm’s network.


Millennial found that impressions served to the iPad mini in early November grew at an average daily rate of 28%. In the weeks following the Kindle Fire’s launch last year, usage of Amazon’s tablet grew roughly 19% each day.






“In the first weeks after the iPad mini went on sale, we saw an average daily growth in impressions of 28 percent. Last holiday season, Amazon launched the Kindle Fire to much anticipation, Millennial Media’s Matt Mills wrote on the company’s blog. “As a comparison, we saw Kindle Fire impressions grow at an average daily rate of 19 percent in the first two weeks after it went on sale last year. So, by our math it looks like Apple could have itself another massive holiday season.”


Mills called the iPad mini a “game changer” and said he expects “a massive amount” of iPad mini tablets to be given as gifts this holiday season.


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Gadgets News Headlines – Yahoo! News


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Late BBC star Savile suspected of 199 crimes: UK police






LONDON (Reuters) – British television star Jimmy Savile is suspected of carrying out an unprecedented number of sex offences including 31 rapes, police said on Wednesday in their most comprehensive review of the scandal.


Revelations about Savile, who died last year, provoked outrage across Britain where he had been a household name since the 1960s.






News of Savile’s crimes threw his main employer the BBC into turmoil, led to resignation of the BBC’s director general just 54 days into his job and provoked awkward questions for his predecessor Mark Thompson, who recently took over as chief executive of the New York Times.


Detectives launched their inquiry 10 weeks ago following reports in a TV documentary that Savile had abused young girls on BBC premises and at hospitals where he did charity work.


Since then, 450 people had come forward with allegations about Savile, mostly dealing with sexual abuse, said police.


Savile was now a suspect in 199 crimes, the vast majority of them involving children or young people, the force added.


“These levels of reporting of sexual abuse against a single individual are unprecedented in the UK,” the police said in a statement.


Detectives have been examining three categories of alleged offences: those involving only Savile, which make up the majority of cases; those involving Savile and others; and those which had no direct link to Savile.


So far six men have been arrested and another questioned by London police.


Those quizzed include Max Clifford, Britain’s most high-profile celebrity publicist, former BBC radio DJ Dave Lee Travis and former glam-rock singer Gary Glitter.


They have all denied any wrongdoing.


“Our officers will continue to investigate allegations made against those who potentially can be brought to justice,” the police statement said. “More arrests nationally will be forthcoming.”


A one-time professional wrestler with a penchant for garish outfits, Savile became famous as a pioneering DJ in the 1960s before hosting prime-time TV shows until the 1990s.


He ran about 200 marathons for charity, raising tens of millions of pounds for hospitals, leading some to give him keys to rooms where victims now allege they were abused.


TV News Headlines – Yahoo! News


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Lilly stops rheumatoid arthritis trial for lack of efficacy






(Reuters) – Eli Lilly and Co said it will stop one of three late-stage trials of its rheumatoid arthritis (RA) drug tabalumab due to insufficient efficacy.


The decision to stop the trial came after an interim futility analysis of the study, called FLEX-M.






The trial was testing the drug in patients with moderate-to-severe RA who had an inadequate response to methotrexate therapy, which is a standard RA treatment.


The decision was not based on safety concerns, and patients currently enrolled in other tabalumab RA studies will continue treatment, Lilly said.


However, the company said it was suspending enrollment of new patients in the RA program until additional analysis from other ongoing RA studies is completed in early 2013.


The study discontinuation is expected to result in an after-tax charge of about 2 cents per share in the fourth quarter.


“The results of this study were unexpected given the data generated in earlier Phase II clinical studies of tabalumab,” Lilly’s vice president of autoimmune product development, Eiry Roberts, said.


Lilly is working on another RA drug called baricitinib, which is also getting tested for psoriasis and diabetic nephropathy.


Another autoimmune disorder drug in the company’s pipeline is ixekizumab — being tested for psoriasis and psoriatic arthritis.


(Reporting by Esha Dey in Bangalore; Editing by Joyjeet Das)


Diseases/Conditions News Headlines – Yahoo! News


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Airlines: 2013 profits to rise thanks to cost cuts






GENEVA (AP) — Airlines‘ profits will improve to $ 8.4 billion in 2013, mainly reflecting cost cuts and restructuring measures taken to compensate for stalling economic growth, the global industry‘s trade group forecast Thursday.


For 2012, the industry anticipates net profits of $ 6.7 billion based on strong second and third quarters — particularly for larger carriers with bigger economies of scale — despite high fuel prices and weaker demand.






But the 2013 results would still be below the $ 8.8 billion earned in 2011 and $ 15.8 billion in 2010. The net profit margin, at 1 percent, would also be well below the 7 to 8 percent officials say is needed to recover capital costs.


The International Air Transport Association‘s annual review focused on the impact of annual world economic growth falling below 2 percent and Brent crude oil trading at $ 109.5 a barrel.


“Airlines have adjusted to this difficult environment through improving efficiency and restructuring,” said Tony Tyler, chief executive of the Geneva-based global trade group.


Tyler told reporters in Geneva that airlines’ financial performance hinged partly on their size.


“Economies of scale are helping larger airlines to cope much better with the difficult environment than small and medium-sized carriers which continue to struggle,” he said.


IATA, whose 240 member airlines carry 84 percent of all passengers and cargo, said the industry’s overall revenue in 2013 is expected to rise to $ 659 billion from $ 637 billion this year, while costs will go up to $ 640 billion from $ 623 billion.


Economy News Headlines – Yahoo! News


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Aides: Chavez in tough fight, may miss swearing-in






CARACAS, Venezuela (AP) — Somber confidants of President Hugo Chavez say he is going through a difficult recovery after cancer surgery in Cuba, and one close ally is warning Venezuelans that their leader may not make it back for his swearing-in next month.


Information Minister Ernesto Villegas said Wednesday night that Chavez was in “stable condition” and was with close relatives in Havana. Reading a statement, he said the government invites people to “accompany President Chavez in this new test with their prayers.”






Villegas expressed hope about the president returning home for his Jan. 10 swearing-in for a new six-year term, but said in a written message on a government website that if Chavez doesn’t make it, “our people should be prepared to understand it.”


Villegas said it would be irresponsible to hide news about the “delicateness of the current moment and the days to come.” He asked Venezuelans to see Chavez’s condition as “when we have a sick father, in a delicate situation after four surgeries in a year and a half.”


Moving to prepare the public for the possibility of more bad news, Vice President Nicolas Maduro looked grim when he acknowledged that Chavez faced a “complex and hard” process after his latest surgery.


At the same time, officials sought to show a united front amid the growing worries about Chavez’s health and Venezuela’s future. Key leaders of Chavez’s party and military officers appeared together on television as Maduro gave updates on Chavez’s condition.


“We’re more united than ever,” said Maduro, who was flanked by National Assembly President Diosdado Cabello and Oil Minister Rafael Ramirez, both key members of Chavez’s inner circle. “We’re united in loyalty to Chavez.”


Analysts say Maduro could eventually face challenges in trying to hold together the president’s diverse “Chavismo” movement, which includes groups from radical leftists to moderates, as well as military factions.


Tapped by the 58-year-old president over the weekend as his chosen political heir, Maduro is considered to be a member of radical left wing of Chavez’s movement that is closely aligned with Cuba’s communist government.


Cabello, a former military officer who also wields power within Chavez’s movement, shared the spotlight with Maduro by speaking at a Mass for Chavez’s health at a military base.


Just returned from being with Chavez for the operation, Cabello called the president “invincible” but said “that man who is in Havana … is fighting a battle for his life.”


After Chavez’s six-hour operation Tuesday, Venezuelan television broadcast religious services where people prayed for Chavez, interspersed with campaign rallies for upcoming gubernatorial elections.


On the streets of Caracas, people on both sides of the country’s deep political divide voiced concerns about Chavez’s condition and what might happen if he died.


At campaign rallies ahead of Sunday’s gubernatorial elections, Chavez’s candidates urged Venezuelans to vote for pro-government candidates while they also called for the president to get well.


“Onward, Commander!” gubernatorial candidate Elias Jaua shouted to a crowd of supporters at a rally Wednesday. Many observers said it was likely Chavez’s candidates could get a boost from their supporters’ outpouring of sympathy for Chavez.


Opposition leader Henrique Capriles, who lost to Chavez in the October presidential election and is running against Jaua, complained Wednesday that Chavez’s allies are taking advantage of the president’s health problems to try to rally support. He took issue with Jaua’s statement to supporters that “we have to vote so that the president recovers.”


Maduro looked sad as he spoke on television, his voice hoarse and cracked at times after meeting in the pre-dawn hours with Cabello and Ramirez. The pair returned to Venezuela about 3 a.m. after accompanying Chavez to Cuba for his surgery.


“It was a complex, difficult, delicate operation,” Maduro said. “The post-operative process is also going to be a complex and hard process.”


Without giving details, Maduro reiterated Chavez’s recent remarks that the surgery presented risks and that people should be prepared for any “difficult scenarios.”


The constitution says presidents should be sworn in before the National Assembly, and if that’s not possible then before the Supreme Court.


Former Supreme Court magistrate Roman Duque Corredor said a president cannot delegate the swearing-in to anyone else and cannot take the oath of office outside Venezuela. A president could still be sworn in even if temporarily incapacitated, but would need to be conscious and in Venezuela, Duque told The Associated Press.


If a president-elect is declared incapacitated by lawmakers and is unable to be sworn in, the National Assembly president would temporarily take charge of the government and a new presidential vote must be held within 30 days, Duque said.


Chavez said Saturday that if an election had to be held, Maduro should be elected president.


The dramatic events of this week, with Chavez suddenly taking a turn for the worse, had some Venezuelans wondering whether they were being told the truth because just a few months ago the president was running for his fourth presidential term and had said he was free of cancer.


Lawyer Maria Alicia Altuve, who was out in bustling crowds in a shopping district of downtown Caracas, said it seemed odd how Maduro wept at a political rally while talking about Chavez.


“He cries on television to set up a drama, so that people go vote for poor Chavez,” Altuve said. “So we don’t know if this illness is for that, or if it’s that this man is truly sick.”


Some Chavez supporters said they found it hard to think about losing the president and worried about the future. His admirers held prayer vigils in Caracas and other cities this week, holding pictures and singing hymns.


Chavez has undergone four cancer-related surgeries since June 2011. He has also undergone months of chemotherapy and radiation treatments. Throughout his treatments, Chavez has kept secret some details of his illness, including the exact location and type of the tumors.


Ecuadorean President Rafael Correa wished his close ally the best, while also acknowledging the possibility that cancer might end his presidency. “Chavez is very important for Latin America, but if he can’t continue at the head of Venezuela, the processes of change have to continue,” Correa said at a news conference in Quito.


___


Associated Press writer Christopher Toothaker contributed to this report.


Latin America News Headlines – Yahoo! News


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Here’s the Pope’s First Tweet






The long wait is over and we’ve finally got the first words of Twitter wisdom from Pope Benedict XVI. 



Dear friends, I am pleased to get in touch with you through Twitter. Thank you for your generous response. I bless all of you from my heart.






Benedict XVI (@Pontifex) December 12, 2012


Ok, so not that funny, but it was all spelled right and we got blessed by a pope, so that’s a good start. And the Pope did actually send the message himself. Pope Benedict appeared on Wednesday morning for his regular weekly address in front of throngs of media and worshipers, and personally hit the tweet button himself on his iPad. Vatican officials say that before the end of the day he will be answering three questions that were submitted to the #askpontifex hashtag earlier this month. Here’s the first of those:



How can we celebrate the Year of Faith better in our daily lives?


— Benedict XVI (@Pontifex) December 12, 2012



By speaking with Jesus in prayer, listening to what he tells you in the Gospel and looking for him in those in need


— Benedict XVI (@Pontifex) December 12, 2012


He actually tweeted in Italian first and his other language accounts weren’t far behind. Follow @Pontifex for more 140 character sermons.


Social Media News Headlines – Yahoo! News


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Gilead to buy YM BioSciences for about $465 million






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Doing the College Bowl Game Shuffle






In 1997, when the Arizona-based Copper Bowl was rechristened the “Insight.com Bowl”—and billed as “the first bowl game to be sponsored by an electronic commerce Web site”—it touched a nerve. Sports columnists called the tech suffix “ridiculous.” To echo one cantankerous newspaper writer: “What next? A flag game matching sororities, sponsored by AirTouch?”


Be careful what you wish for. More than a decade later, the Peach Bowl and the Citrus Bowl have been replaced by the Chick-fil-A Bowl and the Capital One Bowl (COF), respectively. The Humanitarian Bowl is no more—it’s now the Famous Idaho Potato Bowl. Teams from the Big East and Conference USA conferences duke it out in the Beef ‘O’ Brady’s Bowl, located in St. Petersburg, Fla. Speaking of which, the Gator Bowl, hosted every year in Jacksonville, Fla., is now the Taxslayer.com Gator Bowl. And starting this year, the once controversial Insight Bowl (the “.com” was dropped in 2002 after the bubble burst) will be known as the Buffalo Wild Wings Bowl (BWLD), named after the Minneapolis-based chain of sports bars.






Some fear the bowl market is getting saturated. “I understand the financial considerations of getting those [sponsorship] checks,” says Kevin Adler, president of Engage Marketing. “But I think some of these bowls devalue themselves with the type of brands they associate with.”


Regardless, this year marks the introduction of three newly renamed bowl games to the mix. What they pay for the title sponsorships is just as mutable as the ever-shape-shifting bowl landscape. “The agreements are always changing,” says Doug Shabelman of Burns Entertainment & Sports Marketing. “With the economy, you’re seeing these bowls and marketers getting as creative as possible. The marketer might pay $ 350,000 to be the title sponsor, but they’ll guarantee exposure in other advertising. It’s like a combination of marketing efforts. Everyone is looking to see where they can get added value.”


Here’s a quick rundown of the NCAA’s newest postseason sponsorships, as well as a rough estimate of what they paid for the title rights:


The Russell Athletic Bowl
Estimated title sponsorship value: $ 350,000 to $ 550,000

This summer, the Kentucky-based sports-apparel manufacturer Russell Athletic partnered with Florida Citrus Sports on a deal to be the title sponsor of the Orlando-based game through 2015. The previous title sponsor from 2004 to 2011 was Champs Sports. The agreement makes Russell Brands (no relation to this guy) the sole apparel provider for this game, the nearby Capital One Bowl, and the Fresh From Florida Parade. Last year’s Champs Sports Bowl, between Florida State and Notre Dame, drew 68,305 ticket holders and 6 million viewers on ESPN.


Heart of Dallas Bowl
Estimated title sponsorship value: $ 350,000 to $ 550,000


In 2010, the AT&T Cotton Bowl Classic (T) was relocated from the Cotton Bowl, a stadium in downtown Dallas, to the gleaming Cowboys Stadium in nearby Arlington. Last year, the contest that took place in the actual Cotton Bowl was the TicketCity Bowl. This year, the game will bear the name Heart of Dallas, a new nonprofit group that will direct funding to a local homeless charity. The “presenting sponsor” is PlainsCapital Bank (HTH), “with additional support from MetroPCS (PCS), Dallas Convention and Visitors Bureau, Omni Hotels and Hyatt (H).” The payout to participants is $ 1.1 million. According to an editorial in the Dallas Morning News, locals are pleased—mostly with the name. “Simple and descriptive, the name also carries potentially great meaning,” the editorial board wrote.


Buffalo Wild Wings Bowl
Estimated title sponsorship value: “$ 2 million plus”

This year, Arizona’s Fiesta Bowl, which had operated the Insight Bowl, announced that it had entered into a multi-year deal with the Minnesota-based sports-bar chain after Insight Enterprises (NSIT), based in Tempe, Ariz., didn’t re-up its title sponsorship. The payout to participants in the game is $ 3.35 million. According to filings with the U.S. Securities and Exchange Commission, it’s estimated that Insight paid roughly $ 2 million for the last two bowl games.


Businessweek.com — Top News


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