New potential therapeutic target identified for Diffuse Large B-Cell Lymphoma

Public release date: 28-Nov-2011
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Contact: Lauren Woods
lauren.woods@nyumc.org
212-404-3555
NYU Langone Medical Center / New York University School of Medicine

Researchers reveal deletions and mutations of the FBXO11 gene in B-cells contribute to the development of the most common type of lymphoma

Researchers from the NYU Cancer Institute, an NCI-designated cancer center at NYU Langone Medical Center, have discovered a new potential therapeutic target for Diffuse Large B-Cell Lymphoma (DLBCL), the most aggressive and common type of lymphoma in adults. The new study, published in the November 23 issue of Nature, reveals the underlying molecular mechanism contributing to the development of lymphomagenesis.

"We have discovered that the protein FBXO11 is a novel tumor suppressor in B-cells," said senior study author Michele Pagano, MD, the May Ellen and Gerald Jay Ritter Professor of Oncology and Professor of Pathology at NYU Langone Medical Center and a Howard Hughes Medical Institute Investigator. "Our new research findings show deletion or mutation of the FBXO11 gene in B-cells may lead to the formation of Diffuse Large B-Cell Lymphoma."

Lymphoma is a blood cancer that affects the lymphatic system, the body's infection and disease-fighting network. DLBCL is the most common type of adult lymphoma. This type of non-Hodgkin lymphoma develops within B-cells, a type of lymphocytes or white blood cells in the lymphatic tissue of the body. Mutations of certain genes in the B-cells located in the lymph nodes and other organs of the immune system contribute to the proliferation of DLBCL throughout the body.

The majority of patients with DLBCL overexpress the protein B-Cell Lymphoma 6 (BCL6). By binding to specific DNA sequences, BCL6 regulates the transcription of genes that are crucial to B-cell development and function. Deregulation of BCL6 leads to the pathogenesis of B-cell lymphomas as proven in experiments in mice expressing BCL6 in B-cells and developing DLBCL similar to human disease. In certain DLBCL patients, BCL6 overexpression is achieved through gene translocation or mutation of its promoter. However, many other patients with DLBCLs overexpress BCL6 through a mechanism that has been unknown until now.

In the study, NYU Langone researchers show FBXO11 as a novel tumor suppressor. FBXO11, part of a SKP1/CUL1/F-box protein (SCF) ubiquitin ligase protein complex, controls BCL6 degradation. FBXO11 functions to keep the levels of BCL6 in B-cells low. The new study shows that BCL6 protein is targeted for degradation by the B-cell's ubiquitin system, the cell-recycling system that helps limit unnecessary cell growth and prevent malignant cell transformation. FBXO11-mediated elimination of BCL6 prevents the development of DLBCL. Additionally, researchers discovered FBXO11 is deleted or mutated in many DLBCL cell lines and DLBCL patients. Experimentally, inactivation, mutation or deletion of FBXO11 in B-cells induces overexpression of BCL6. Moreover, reconstitution of FBXO11 expression in FBXO11-deleted DLBCL cells, by promoting BCL6 degradation, inhibits proliferation and induces the death of tumor cells.

"These findings reveal the molecular mechanism behind the overexpression of BCL6 in B-cell lymphomas," said Dr. Pagano. "Mutations and deletions of FBXO11 in B-cells contribute to lymphomagenesis. As lymphoma cells are addicted to BCL6 expression, FBXO11-mediated regulation of BCL6 is a new potential therapeutic strategy for the future treatment of lymphoma."

###

This study was a collaboration between NYU Cancer Institute, NYU School of Medicine, Howard Hughes Medical Institute, University of Torino, San Giovanni Battista Hospital, Dana-Farber Cancer Institute. The study was supported by funding from the National Institutes of Health, Howard Hughes Medical Institute, Susan G. Komen Foundation and Lymphoma Research Foundation.

About NYU Langone Medical Center

NYU Langone Medical Center, a world-class, patient-centered, integrated, academic medical center, is one on the nation's premier centers for excellence in clinical care, biomedical research and medical education. Located in the heart of Manhattan, NYU Langone is composed of three hospitals Tisch Hospital, its flagship acute care facility; the Rusk Institute of Rehabilitation Medicine, the world's first university-affiliated facility devoted entirely to rehabilitation medicine; and the Hospital for Joint Diseases, one of only five hospitals in the nation dedicated to orthopaedics and rheumatology plus the NYU School of Medicine, which since 1841 has trained thousands of physicians and scientists who have helped to shape the course of medical history. The medical center's tri-fold mission to serve, teach and discover is achieved 365 days a year through the seamless integration of a culture devoted to excellence in patient care, education and research. For more information, go to http://www.NYULMC.org.

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Public release date: 28-Nov-2011
[ | E-mail | Share ]

Contact: Lauren Woods
lauren.woods@nyumc.org
212-404-3555
NYU Langone Medical Center / New York University School of Medicine

Researchers reveal deletions and mutations of the FBXO11 gene in B-cells contribute to the development of the most common type of lymphoma

Researchers from the NYU Cancer Institute, an NCI-designated cancer center at NYU Langone Medical Center, have discovered a new potential therapeutic target for Diffuse Large B-Cell Lymphoma (DLBCL), the most aggressive and common type of lymphoma in adults. The new study, published in the November 23 issue of Nature, reveals the underlying molecular mechanism contributing to the development of lymphomagenesis.

"We have discovered that the protein FBXO11 is a novel tumor suppressor in B-cells," said senior study author Michele Pagano, MD, the May Ellen and Gerald Jay Ritter Professor of Oncology and Professor of Pathology at NYU Langone Medical Center and a Howard Hughes Medical Institute Investigator. "Our new research findings show deletion or mutation of the FBXO11 gene in B-cells may lead to the formation of Diffuse Large B-Cell Lymphoma."

Lymphoma is a blood cancer that affects the lymphatic system, the body's infection and disease-fighting network. DLBCL is the most common type of adult lymphoma. This type of non-Hodgkin lymphoma develops within B-cells, a type of lymphocytes or white blood cells in the lymphatic tissue of the body. Mutations of certain genes in the B-cells located in the lymph nodes and other organs of the immune system contribute to the proliferation of DLBCL throughout the body.

The majority of patients with DLBCL overexpress the protein B-Cell Lymphoma 6 (BCL6). By binding to specific DNA sequences, BCL6 regulates the transcription of genes that are crucial to B-cell development and function. Deregulation of BCL6 leads to the pathogenesis of B-cell lymphomas as proven in experiments in mice expressing BCL6 in B-cells and developing DLBCL similar to human disease. In certain DLBCL patients, BCL6 overexpression is achieved through gene translocation or mutation of its promoter. However, many other patients with DLBCLs overexpress BCL6 through a mechanism that has been unknown until now.

In the study, NYU Langone researchers show FBXO11 as a novel tumor suppressor. FBXO11, part of a SKP1/CUL1/F-box protein (SCF) ubiquitin ligase protein complex, controls BCL6 degradation. FBXO11 functions to keep the levels of BCL6 in B-cells low. The new study shows that BCL6 protein is targeted for degradation by the B-cell's ubiquitin system, the cell-recycling system that helps limit unnecessary cell growth and prevent malignant cell transformation. FBXO11-mediated elimination of BCL6 prevents the development of DLBCL. Additionally, researchers discovered FBXO11 is deleted or mutated in many DLBCL cell lines and DLBCL patients. Experimentally, inactivation, mutation or deletion of FBXO11 in B-cells induces overexpression of BCL6. Moreover, reconstitution of FBXO11 expression in FBXO11-deleted DLBCL cells, by promoting BCL6 degradation, inhibits proliferation and induces the death of tumor cells.

"These findings reveal the molecular mechanism behind the overexpression of BCL6 in B-cell lymphomas," said Dr. Pagano. "Mutations and deletions of FBXO11 in B-cells contribute to lymphomagenesis. As lymphoma cells are addicted to BCL6 expression, FBXO11-mediated regulation of BCL6 is a new potential therapeutic strategy for the future treatment of lymphoma."

###

This study was a collaboration between NYU Cancer Institute, NYU School of Medicine, Howard Hughes Medical Institute, University of Torino, San Giovanni Battista Hospital, Dana-Farber Cancer Institute. The study was supported by funding from the National Institutes of Health, Howard Hughes Medical Institute, Susan G. Komen Foundation and Lymphoma Research Foundation.

About NYU Langone Medical Center

NYU Langone Medical Center, a world-class, patient-centered, integrated, academic medical center, is one on the nation's premier centers for excellence in clinical care, biomedical research and medical education. Located in the heart of Manhattan, NYU Langone is composed of three hospitals Tisch Hospital, its flagship acute care facility; the Rusk Institute of Rehabilitation Medicine, the world's first university-affiliated facility devoted entirely to rehabilitation medicine; and the Hospital for Joint Diseases, one of only five hospitals in the nation dedicated to orthopaedics and rheumatology plus the NYU School of Medicine, which since 1841 has trained thousands of physicians and scientists who have helped to shape the course of medical history. The medical center's tri-fold mission to serve, teach and discover is achieved 365 days a year through the seamless integration of a culture devoted to excellence in patient care, education and research. For more information, go to http://www.NYULMC.org.

---

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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.

Source: http://www.eurekalert.org/pub_releases/2011-11/nlmc-npt112811.php

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Virgin America CEO looks to make flying fun again

NEW YORK?? Virgin America CEO David Cush believes flying doesn't have to be painful. He remembers when boarding a plane was exciting and wants to bring back that joy.

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That is why every job applicant, including pilots, flight attendants and baggage handlers, takes a personality test. He wants employees who are hard-wired with positive outlooks on life.

Virgin America, which is partly owned by Richard Branson, the founder of the edgy British airline Virgin Atlantic, doesn't aim to be the biggest carrier. It only flies between big cities, such as Los Angeles, Chicago and Boston, serving about 5 million passengers annually ? a tiny fraction of the size of major airlines like Delta and United.

But Cush wants Virgin America to be recognized for superior quality ? and he appears to be succeeding. The airline, based near San Francisco, has routinely ranked at the top of customer surveys.

The past month has been a little rocky, though. Since the airline switched to a new reservation system on Oct. 28, customers have not been able to change or cancel flights online or select seats on Virgin America's website. Instead, they've had to call the airline or wait until they got to the airport. Cush emailed a letter to the 56,000 passengers affected apologizing for the problem and the airline says it hopes to have it fully resolved by the first week in December.

Virgin America's fleet is made up of brand-new Airbus A319s and A320s, fuel-efficient aircraft that seat 119 and 146. Each is equipped with TVs for every passenger, colorful mood lighting and Wi-Fi. Instead of flight attendants dictating meal times, passengers buy food when they want it by pressing a few buttons on their TV.

"If you talk to people about what is most frustrating about air travel, what comes out is the loss of control," Cush says. "We've been pushing to give people control again."

Virgin isn't the first U.S. airline to use TVs and friendly service to attract customers. Cush acknowledges some copying as he works to create the California version of New York-based JetBlue.

"JetBlue came around and had a different type of service. That opened my eyes," he says.

But his quest to create a fun airline has been stymied by more serious concerns like high fuel prices and a recession whose impact is still being felt.

Since it started flying in August 2007, Virgin America has lost $661.4 million. Cush expects to become profitable in 2012, a year later than originally planned.

The privately held company is owned by a New York hedge fund, Richard Branson's Virgin Group and private investors, including Donald J. Carty, the former head of American Airlines' parent company, AMR Corp.

Cush, 51, spent most of his career at American and left to head up Virgin America just four months after the airline started flying.

The Shreveport, La.-native is a graduate of Southern Methodist University ? yet a giant Louisiana State University football fan.

In his spare time, Cush likes to swim and fish. In college, he was a DJ, spinning Bruce Springsteen and Pink Floyd tunes.

Cush visited The Associated Press in New York. Below are excerpts, edited for clarity, of the interview where he spoke about the health of American, his favorite seat and why risk-taking is necessary to survive.

Q: How is Virgin America different?

A: The biggest difference is our in-flight entertainment system. It's a nine-inch screen ? larger than JetBlue. We've got live TV, on-demand movies, about 3,000 MP3s. We have food and drink on-demand. We're the only airline in the world that has it. You order from the seatback, swipe your credit card. They see seat 12C wants a turkey sandwich and a Heineken and bring it to you on a tray. Carts aren't blocking the aisles.

Q: Who came up with that?

A: This was designed before my time but as I tell people, as time goes on and memories fade it will become my idea.

Q: How much more are people willing to pay for these services?

A: The model is getting them to pay the same amount with a much lower production cost.

Q: How can you attract business travelers when your miles can't be redeemed for Hawaii, Europe or other places you don't serve?

A: The mile problem will be solved early next year. We have basic agreements with Virgin Atlantic and Virgin Australia that will be fully reciprocal. We also have agreements with Cathay Pacific, Singapore and Emirates that will develop into frequent flier relationships.

Q: In Dallas, you're telling fliers to "dump your older airline for a younger, hotter one." American responded by slashing fares to San Francisco and Los Angeles. Can you survive this fare war?

A: We'll survive. At current fares, it will not be a profitable route but it wouldn't be such a loss-making one where we would consider any type of reduction. You have to be in Dallas-Fort Worth if you're going to be a business airline.

Q: In one ad you refer to American as running a cattle car. If you feel that way, how could you have worked there for 22 years?

A: It wasn't always that way. The industry, out of survival, did a lot of things. One of the reasons I left was because I didn't think the industry had to operate that way.

Q: Why did you get into the business?

A: I don't think anyone knows why they get in unless they are a pilot or an aviation enthusiast. I wanted to live in Dallas. American was a big employer. Young, single, the ability to fly around anywhere you wanted to, it all sounded pretty good. Once you get in, you find it so intellectually demanding that you can't see yourself doing anything else.

Q: Do you think that American is on the right path?

A: It's hard to tell. There's a culture there that is perhaps a bit risk-averse. In the past, it was always an airline that was willing to accept risk. The industry's consolidated around it and all of a sudden American finds itself in third place. I don't know if they have the answer. I do know their top guys. They're smart, capable but at some point you need to stick your neck out a little bit if you're going to get out of a rut.

Q: Are you a risk-taker?

A: Absolutely. But I don't take unnecessary risk and I always have an exit strategy.

Q: Mile for mile, airplanes burn more fuel than cars, trucks or trains. Do you think this poses a problem for the industry?

A: If we don't find a way to clean up air travel, we'll become a pariah. We'll be what the coal companies used to be.

Q: You're in 14 markets. Where would you like to fly to next?

A: We've been trying to get into Newark, (N.J.) since the day we started. This is a huge policy issue ? slots and gates are tied up by legacy carriers. The economics of keeping us out of Newark are huge for United so they'll fly unprofitable (regional jets) just to occupy slots. When we go into markets, fares drop by 30 or 40 percent.

Q: When you fly your own airline you always pick the second row of coach. Why?

A: I get to watch the interaction between our in-flight teammates and the customers in first. It's a nice seat, 4A.

Q: A window.

A: I'm a window guy. Our in-flight entertainment system has Google Maps. You zoom in when you see something on the ground you're interested in.

Q: How would you describe yourself as a boss?

A: I'm probably a tough guy to work for. I'm pretty demanding and part of the reason is the airline business is a demanding business. We have very little margin for error in building this into a successful company. We have 2,500 people that rely on us for a paycheck.

Q: Do you ever get overshadowed by Richard Branson?

A: All the time. People want to talk to him, they want to see him. When he's around, I'm just the hired help.

Q: How much patience do you have for unprofitable routes?

A: We stopped service to two different places. One because we needed the aircraft, that was Orange County, (Calif.). We didn't see that as a big strategic need. The other is Toronto. We misjudged the market.

Q: Did you fire the guy who pushed that route?

A: That was me, so no.

Q: In ten years, do you see Virgin America being a full-blown national airline?

A: That's not our goal. The biggest discipline we need to have is not outgrowing the model. That means maybe 100, 150 aircraft, probably no more. The goal would be to be consistently profitable, the highest quality airline where we can hopefully make a few hours of people's day a little bit nicer.

Q: Will you go public?

A: As much as it's nice being private ? because you don't have to manage to the short term and there are a lot of burdensome regulations that come from being public ? ultimately we need to (do an initial public offering.) It's a capital-intensive business. We need to tap public markets and our investors want to take some money off the table. It could be 2013 if the market is ready.

Q: How do you unwind after leaving the office?

A: I do a lot of yoga. It's a nice way to separate the mind from what you've gone through all day.

___

Scott Mayerowitz can be reached at http://twitter.com/GlobeTrotScott

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/45441638/ns/travel-news/

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Biden's 2012 targets: Ohio, Pennsylvania, Florida (AP)

WASHINGTON ? A year from Election Day, Democrats are crafting a campaign strategy for Vice President Joe Biden that targets the big three political battlegrounds: Ohio, Pennsylvania, and Florida, states where Biden might be more of an asset to President Barack Obama's re-election campaign than the president himself.

The Biden plan underscores an uncomfortable reality for the Obama team. A shaky economy and sagging enthusiasm among Democrats could shrink the electoral map for Obama in 2012, forcing his campaign to depend on carrying the 67 electoral votes up for grabs in the three swing states.

Obama won all three states in 2008. But this time he faces challenges in each, particularly in Ohio and Florida, where voters elected Republican governors in the 2010 midterm elections.

The president sometimes struggles to connect with Ohio and Pennsylvania's white working-class voters, and Jewish voters who make up a core constituency for Florida Democrats and view him with skepticism.

Biden has built deep ties to both groups during his four decades in national politics, connections that could make a difference.

As a long-serving member of the Senate Foreign Relations Committee, Biden cemented his reputation as an unyielding supporter of Israel, winning the respect of many in the Jewish community. And Biden's upbringing in a working class, Catholic family from Scranton, Pa., gives him a valuable political intangible: He empathizes with the struggles of blue-collar Americans because his family lived those struggles.

"Talking to blue-collar voters is perhaps his greatest attribute," said Dan Schnur, a Republican political analyst. "Obama provides the speeches, and Biden provides the blue-collar subtitles."

While Biden's campaign travel won't kick into high gear until next year, he's already been making stops in Ohio, Pennsylvania and Florida this fall, speaking at events focused on education, public safety and small businesses and raising campaign cash. Behind the scenes, he's working the phones with prominent Jewish groups and Catholic organizations in those states, a Democratic official said.

Biden is also targeting organized labor, speaking frequently with union leaders in Ohio ahead of a vote earlier this month on a state law that would have curbed collective bargaining rights for public workers. After voters struck down the measure, Biden traveled to Cleveland to celebrate the victory with union members.

The Democratic official said the vice president will also be a frequent visitor to Iowa and New Hampshire in the coming weeks, seeking to steal some of the spotlight from the Republican presidential candidates blanketing those states ahead of the January caucus and primary.

And while Obama may have declared that he won't be commenting on the Republican presidential field until there's a nominee, Biden is following no such rules. He's calling out GOP candidates by name, and in true Biden style, he appears to be relishing in doing so.

During a speech last month to the Florida Democratic Convention, Biden singled out "Romney and Rick", criticizing former Massachusetts Gov. Mitt Romney for saying the government should let the foreclosure crisis hit rock bottom, and hammering Texas Gov. Rick Perry's assertion that he would send U.S. troops into Mexico.

And he took on the full GOP field during an October fundraiser in New Hampshire, saying "There is no fundamental difference among all the Republican candidates."

Democratic officials said Biden will follow in the long-standing tradition of vice presidents playing the role of attack dog, allowing Obama to stay out of the fray and appear more focused on governing than campaigning.

The officials spoke on the condition of anonymity in order to discuss internal strategy. The Obama campaign has been reluctant to publically define Biden's role in the re-election bid this early in the run, though campaign manager Jim Messina did say the vice president would deliver an economic message to appeal for support.

"You'll see him in communities across the country next year laying out the choice we face: restoring economic security for the middle class or returning to the same policies that led to our economic challenges," Messina said.

Democrats say Biden will campaign for House candidates in swing states as the party tries to recapture some of the seats in Congress lost during the 2010 midterms.

And here again, the vice president's efforts in politically crucial Ohio, Pennsylvania and Florida could be most important. The Democratic Congressional Campaign Committee is targeting 12 districts in those states that Obama and Biden carried in the 2008 presidential race but are represented by Republican representatives.

New York Rep. Steve Israel, who chairs the committee, said he believes Biden could be a "game-changer" in those districts.

"All he has to do is ask voters, has the Republican strategy of no worked for you?" Israel said.

Israel met with Obama and Biden at the White House earlier this month to discuss, among other things, their role in congressional campaigns. While Israel said he hopes Obama will actively campaign for Democratic House candidates, he said "the vice president has already volunteered."

___

Julie Pace can be reached at http://twitter.com/jpaceDC.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111125/ap_on_el_pr/us_biden2012

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In 2012 race, GOP candidates rely less on fill-ins

MANCHESTER, N.H. (AP) ? At Mitt Romney's New Hampshire headquarters, New Jersey Gov. Chris Christie played a time-worn shtick for the cameras, picking up a telephone alongside volunteers who were dialing undecided voters on behalf of the candidate they support.

Christie actually called Romney and the two chatted about an upcoming debate.

"Be yourself," Christie advised, as he accomplished what he needed to while a dozen reporters watched: He generated positive media attention for a candidate who was elsewhere at the time.

When they can't be in New Hampshire, Iowa and other early voting states, presidential hopefuls traditionally have sent others in their stead.

But this campaign season, surrogates such as Christie have been scarce, in large part because the field of candidates was so slow to develop. Christie, for example, thought of jumping in until October.

"In the past, you would have had full campaign staffs for all the candidates six to eight months out at least, and some campaigns here are still just starting to put boots on the ground," said South Carolina political consultant Luke Byars.

He said aside from the candidates' wives and adult children, no stand-ins have spoken in his state, though he expects activity will pick up.

"I still think that's going to happen, it's just a question of time," he said. "It takes resources and staff to make that happen."

In Iowa, Rick Perry's wife, Anita, has campaigned and one of Romney's sons Josh, filled in for his father this month at the Iowa Republican Party's Ronald Reagan dinner in Des Moines. But that's nothing compared with 2008, when Romney's five sons traveled the country in a Winnebago that became known as the "Five Brothers Bus," while Josh Romney drove through all 99 Iowa counties.

New Hampshire has seen a bit more activity beyond politicians' family members. In addition to Christie making pitches for Romney, former Homeland Security Secretary and Pennsylvania Gov. Tom Ridge has campaigned for Jon Huntsman. But otherwise traffic has been light.

Tom Rath, a veteran New Hampshire political operative who has advised Romney's presidential campaigns in 2008 and this year, said surrogates are of limited use in states where voters are accustomed to close encounters with the candidates.

"Frankly, New Hampshire doesn't take kindly to surrogates. We like the candidate. We're spoiled. We see the candidate a lot. We expect to see the candidate. So you have to be very careful," he said. "You can't do them a lot here."

He does consider Christie the ideal type of surrogate, someone who can bring independent validation of a candidate's message and explain clearly how he came to his endorsement.

That's exactly what Christie did recently when he attended an evening house party for more than 100 people in Nashua. He emphasized what he said were Romney's strengths, criticized Obama and described why he decided to back Romney. He threw in the requisite local references, praising former Gov. John H. Sununu and Sen. Kelly Ayotte, though he mispronounced the latter's last name (AY'-aht).

He finished with a blunt line that drew laughter.

"If there are any of you here tonight who are not yet committed, you better be committed by the time I come back the next time," he said. "I've been real nice to you tonight, and I will not be the next time if you are still on the fence."

In the audience, Paul Laflamme of Nashua said he remained undecided but enjoyed hearing from Christie.

"I wouldn't make a decision. I wouldn't commit, without meeting the candidate themselves," he said. "However, Gov. Christie is incredibly smart, someone whose opinion I would respect and take into consideration. And hearing what his thought process was very helpful."

Laflamme said he's looking to be inspired by a candidate. Romney is his second choice, but he doesn't have a first one yet.

"Gov. Christie definitely made sense. He talked about not necessarily agreeing with somebody 100 percent of the time but finding the person who's the right person to be president at this time, and that very well could be Gov. Romney," he said.

Source: http://www.mysanantonio.com/news/article/In-2012-race-GOP-candidates-rely-less-on-fill-ins-2294751.php

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Mexico catches escapees from island penal colony (AP)

MEXICO CITY ? Six inmates from the last island penal colony in the Americas were recaptured at sea Thursday after they used buoyant containers and wood planks to try to swim to freedom in an escape reminiscent of the 1973 movie "Papillon."

The Mexican navy said the inmates used empty plastic gas or water tanks to help stay afloat as they swam about 60 miles (90 kilometers) south of the Islas Marias, a Mexican penal colony where inmates live in small houses and are normally not locked up. Prisoners can tend small gardens and raise food.

The six men were only about 60 miles from the Pacific coast resort of Puerto Vallarta when they were spotted by a passing boat early Thursday.

The boat called in a tip to a local naval base, and patrol boats were quickly dispatched to take the men into custody. Photos provided by the navy showed them men sunburned but alert ? and unhappy ? on the deck of the patrol vessel.

The men, who range in age from 28 to 39 years, were taken back to Puerto Vallarta for a medical check and to be turned back over to prison authorities.

Later, the federal Public Safety Department, which is in charge of Mexico's federal prisons, said the men had been found to be in acceptable health and would be returned to the penal colony "within hours."

The department said the prison oversight agency wasn't notified until Thursday that the men were missing from the prison ? the same day they were found at sea, suggesting that their absence had not been noticed when they set off on the escape bid.

The Islas Marias penal colony lies about 70 miles (110 kilometers) from the mainland, but the prisoners did not swim to the closest shore, which is due east. Instead they apparently swam south, either because prevailing currents carried them that way, they didn't know where they were going, or because they were aiming for Vallarta.

The Pacific ocean forms the main security barrier at the island. While dozens of prisoners are believed to have tried to escape since the penal colony was founded in 1905, local news media reports indicate few, if any, are believed to have made it to the mainland.

The escape bid drew comparisons to the movie "Papillon," in which the main character, played by Dustin Hoffman, uses a buoyancy device to swim away from a penal colony in French Guyana.

Islas Marias is the last island penal colony in the region.

Panama closed Coiba Island, the only other remaining island penal colony in the Americas, in 2004. That same year, Mexico announced it would spend $2 million to revive the crumbling prison at Islas Marias and increase the inmate population. Normally, about 1,000 to 1,200 inmates are held at the facility.

(This version CORRECTS that the Public Safety Department, not the Interior Department, released information about the men being returned shortly to the penal colony. )

Source: http://us.rd.yahoo.com/dailynews/rss/mexico/*http%3A//news.yahoo.com/s/ap/20111125/ap_on_re_la_am_ca/lt_mexico_penal_colony_escape

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Thousands rally in Egypt on "last chance Friday" (Reuters)

CAIRO (Reuters) ? Thousands of Egyptians demanding an end to military rule converged on Cairo's Tahrir square on Friday in what activists say will be the biggest day yet of protests in a week of violence that has seen at least 41 people killed.

The generals who have governed Egypt since people power toppled President Hosni Mubarak on February 11 are facing a major challenge to their authority.

Activists who accuse them of trying to cling to power have once again turned Tahrir into a center of mass demonstrations, producing scenes similar to the uprising that toppled Mubarak.

Since last Saturday, streets near Tahrir have become battle zones with stone-throwing protesters fought police firing tear gas, pellets and rubber bullets, although a truce on Thursday calmed the violence in the past 24 hours.

Activists sought to bring a million people into the streets of the capital on what they have dubbed "the Friday of the last chance." The weekly Muslim prayer day has traditionally produced the biggest demonstrations of the Arab Spring revolts sweeping across the Middle East.

There was still no official confirmation early on Friday of state media reports overnight that the ruling military council had appointed Kamal Ganzouri, who served as prime minister under Mubarak from 1996-99, to head an interim cabinet. Prime Minister Essam Sharaf's government resigned this week.

The military rulers say they will transfer power to civilians, but the process should not be rushed to avoid chaos.

Washington, long a bedrock supporter of Egypt's military, called on the generals on Friday to step aside "as soon as possible" and give real power to the new cabinet "immediately."

"Full transfer of power to a civilian government must take place in a just and inclusive manner that responds to the legitimate aspirations of the Egyptian people, as soon as possible," White House spokesman Jay Carney said in a statement.

"The United States strongly believes that the new Egyptian government must be empowered with real authority immediately."

Ahmed Mohey el-Din, 27, a dentist, who was among the crowds in Tahrir Square, said: "We came to voice our refusal of the military council's maneuvers and to stress our demands for handing power to a civilian presidential council and a national salvation government with full powers."

"Numbers will increase after prayers as we expect marches from several districts to join the protesters in the square."

Mohamed Abdel Kerim, a university student, said talk of appointing Ganzouri, 78, as prime minister was a tactic intended to divide protesters. "We don't want anyone from the old regime and we want complete powers for the new government," he said.

Informal debate among protesters about who should head the next cabinet threw up three "acceptable" names: leftwinger Hamdeen Sabahi, Islamist Abdel Moneim Aboul Futuh, or former U.N. nuclear watchdog head Mohamed ElBaradei, protesters said.

"There is consensus in Tahrir on the choice of Sabahi, Aboul Futuh and ElBaradei as the three most suitable politicians and technocrats to form a government," said one protester, Amr Salah. "There is considerable rejection of Ganzouri in Tahrir."

Activists set up checkpoints at entrances to the square, searching people arriving and checking identity cards.

"We've had enough of government controlled by the military," read a huge banner tied between two lamp posts. Several hundred young men marched around waving Egyptian flags and chanting "Down, down with military rule" and "Down, down with the field marshal," a reference to army chief Mohamed Hussein Tantawi.

FRUSTRATION WITH ARMY

The army, once hailed for its role in easing Mubarak from power, has come under increasing fire for dragging out a handover to civilian rule, even as Egypt's economy falters.

This week it promised to accelerate the timetable for a transfer of power to a civilian president and again pledged that parliamentary elections will start on Monday, as planned.

The United States and European nations, alarmed at the violence of the past few days, have urged Egypt to proceed with what has been billed as its first free vote in decades.

The army and the Muslim Brotherhood, which expects to do well in the election, say it must go ahead, but many protesters do not trust the military to oversee a clean vote. Some scorn the Brotherhood for its focus on gaining seats in parliament.

The group organised a protest last Friday against army efforts to shape a new constitution, but left Tahrir as protests widened. It held a separate rally this Friday at al-Azhar mosque for the "liberation" of Jerusalem from Israeli control.

The Health Ministry said 41 people had died in the violence, state television reported. More than 2,000 people were also wounded in the unrest in Cairo and several other cities.

The army council said on Thursday it was trying to prevent more bloodshed. In an unusual apology, it offered compensation to families of the dead and a swift enquiry into the unrest.

The latest upheaval makes it even harder to dig the economy out of a crisis whose first victims are the millions of poor Egyptians whose frustration spurred the revolt against Mubarak.

Egypt's central bank unexpectedly raised interest rates on Thursday for the first time in more than two years, after depleting its foreign reserves trying to defend a local currency weakened by the political chaos.

In fresh blows to confidence, the Egyptian pound weakened to more than six to the dollar for the first time since January 2005, and Standard & Poor's cut Egypt's credit rating.

The economic woes may argue in favor of Ganzouri, whose government virtually balanced the budget, cut inflation, held the exchange rate stable and maintained healthy foreign currency reserves during his time in office from 1996 to 1999.

He introduced some economic liberalisation measures and many Egyptians viewed him as an official who was not tainted by corruption. But his record serving under Mubarak could stir opposition from those demanding a clean break with the past.

Some Facebook activists derided the choice of a Mubarak-era man to steer the country into a new era, listing four ancient pharaohs as useful alternatives if Ganzouri turns the job down.

"Tutankhamun is more suitable because he is from the youth," one said, referring to the boy king of ancient Egypt.

(Additional reporting by Shaimaa Fayed, Edmund Blair, Ali Abd El-Ati and Patrick Werr; Writing by Alistair Lyon; Editing by Peter Graff)

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/nm/20111125/wl_nm/us_egypt_protests

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Articles-now.com Investing in Safekeeping Receipts

A safekeeping receipt is a contract with a bank that a valuable item or items will be kept at the bank and protected, but is not included as a part of the assets of the bank. The items will not be used for the investment purposes of the bank, but will be safe guarded for the person who initiates the receipt.

During the time the investor is in possession of the safekeeping receipt, he or she receives the benefits of that security. An investor may try to make money by leasing safekeeping receipts. This is a process of leasing a valuable property or security.Leasing safekeeping receipts works just like any other leasing of an instrument. Clients may wish to lease an instrument in order to increase likelihood of trading or as collateral for a credit line. Safekeeping receipts may be issued as a certificate of deposit for a lease to keep an instrument safe until the contract is up.

For the time of the lease contract, the investor, in essence, owns the security. This can be a low risk way to invest money. Responsibility of the security is greatly decreased when an investor only leases it for a time. It is easy to get out if the security goes bad, or if problems arise with the investor. He or she can re-lease the security if things are going well, or can move on to a more profitable investment if it doesn?t work out.

There are also many risks associated with leasing safekeeping receipts. The fees that are paid to the lender can be quite high and may be a percentage of the full value of the security. Treasury securities are especially dangerous. These often involve foreign treasuries and the lenders may not even produce proof of a security. It is amazing how easily scam artists are able to get away with such offerings. It is filled with scams and false claims.

Investors should never buy excuses that explain away the reasons no documentation can be provided. Demand proof, appraisal, receipts, bank statements, etc to ensure that the investment lease is legitimate. Be aware of current trends in fees for leases so that an inappropriate fee is not sustained. Knowledge is power when it comes to safe investing. To avoid problems with leasing safekeeping receipts it is important to get plenty of paperwork that proves the value and nature of the items in the safekeeping of a bank.

With so many investments choices, it can be really confusing choosing the perfect investment strategy. Inquest can advise you the best track to invest in the market with poise.

Source: http://www.articles-now.com/2011/11/investing-in-safekeeping-receipts/?utm_source=rss&utm_medium=rss&utm_campaign=investing-in-safekeeping-receipts

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Officials say plan on al Qaeda detainees would harm probes (reuters)

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Russian anchor off air for finger gesture in Obama story (Reuters)

MOSCOW (Reuters) ? A famous Russian TV anchor has been taken off the air for making an obscene gesture after mentioning U.S. President Barack Obama in a live newscast, the channel said on Thursday.

Tatiana Limanova, an award-winning journalist and host of a news show on the REN-TV private channel, waved her middle finger when presenting a story about the APEC summit in the United States, a moment after mentioning Obama.

The video went viral on the internet, with many viewers speculating the gesture had been meant to insult the U.S. president, who met his Russian counterpart Dmitry Medvedev on the sidelines of the summit.

"The gesture was addressed to the members of the editing crew, there was no implication of any kind and it had no reference to the information delivered by Tatiana Limanova," a spokesman for the TV station told Interfax.

Limanova thought she was reading the news off-screen by the time she raised a finger, the spokesman said. There were no details on how Limanova's duties would change after the incident.

Relations between Russia and the United States have been strained recently over U.S. plans to deploy a missile defense shield in Europe.

REN-TV is broadcast across Russia and the former Soviet Union. It is owned by tycoon Yuri Kovalchuk, believed to be close to Russia's paramount leader, Prime Minister Vladimir Putin.

But the channel is widely regarded as a relatively free and unbiased one in a country where the government has a tight grip on much of the media.

(Reporting By Alexei Anishchuk; editing by Andrew Roche)

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/nm/20111124/od_nm/us_russia_anchor_gesture

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CO2 climate impacts reassessed

24 November 2011 Last updated at 20:14 ET By Jennifer Carpenter Science reporter, BBC News

Global temperatures could be less sensitive to changing atmospheric carbon dioxide (CO2) levels than previously thought, a study suggests.

The researchers said people should still expect to see "drastic changes" in climate worldwide, but that the risk was a little less imminent.

The results are published in Science.

Previous climate models have used meteorological measurements from the past 150 years to estimate the climate's sensitivity to rising CO2.

From these models, scientists find it difficult to narrow their projections down to a single figure with any certainty, and instead project a range of temperatures that they expect, given a doubling of atmospheric CO2 from pre-industrial levels.

The new analysis, which incorporates palaeoclimate data into existing models, attempts to project future temperatures with a little more certainty.

Lead author Andreas Schmittner from Oregon State University, US, explained that by looking at surface temperatures during the most recent ice age - 21,000 years ago - when humans were having no impact on global temperatures, he, and his colleagues, show that this period was not as cold as previous estimates suggest.

"This implies that the effect of CO2 on climate is less than previously thought," he explained

By incorporating this newly discovered "climate insensitivity" into their models, the international team was able to reduce uncertainty in its future climate projections.

The new models predict that given a doubling in CO2 levels from pre-industrial levels, the Earth's surface temperatures will rise by 1.7C to 2.6C (3.1F to 4.7F).

That is a much tighter range than suggested by the Intergovernmental Panel on Climate Change (IPCC)'s 2007 report, which suggested a rise of between 2.0C to 4.5C.

The new analysis also reduces the expected rise in average surface temperatures to just over 2C, from 3C.

The authors stress the results do not mean threat from human-induced climate change should be treated any less seriously, explained palaeoclimatologist Antoni Rosell-Mele from the Autonomous University of Barcelona, who is a member of the team that came up with the new estimates.

But it does mean that to induce large-scale warming of the planet, leading to widespread catastrophic consequences, we would have to increase CO2 more than we are going to do in the near future, he said.

"But we don't want that to happen at any time, right?"

"At least, given that no one is doing very much around the planet [about] mitigating CO2 emissions, we have a bit more time," he remarked.

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/science-environment-15858603

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New find sheds light on ancient site in Jerusalem (AP)

JERUSALEM ? Newly found coins underneath Jerusalem's Western Wall could change the accepted belief about the construction of one of the world's most sacred sites two millennia ago, Israeli archaeologists said Wednesday.

The man usually credited with building the compound known to Jews as the Temple Mount and to Muslims as the Noble Sanctuary is Herod, a Jewish ruler who died in 4 B.C. Herod's monumental compound replaced and expanded a much older Jewish temple complex on the same site.

But archaeologists with the Israel Antiquities Authority now say diggers have found coins underneath the massive foundation stones of the compound's Western Wall that were stamped by a Roman proconsul 20 years after Herod's death. That indicates that Herod did not build the wall ? part of which is venerated as Judaism's holiest prayer site ? and that construction was not close to being complete when he died.

"The find changes the way we see the construction, and shows it lasted for longer than we originally thought," said the dig's co-director, Eli Shukron.

The four bronze coins were stamped around 17 A.D. by the Roman official Valerius Gratus. He preceded Pontius Pilate of the New Testament story as Rome's representative in Jerusalem, according to Ronny Reich of Haifa University, one of the two archaeologists in charge of the dig.

The coins were found inside a ritual bath that predated construction of the renovated Temple Mount complex and which was filled in to support the new walls, Reich said.

They show that construction of the Western Wall had not even begun at the time of Herod's death. Instead, it was likely completed only generations later by one of his descendants.

The coins confirm a contemporary account by Josephus Flavius, a Jewish general who became a Roman historian. Writing after a Jewish revolt against Rome and the destruction of the Temple by legionnaires in 70 A.D., he recounted that work on the Temple Mount had been completed only by King Agrippa II, Herod's great-grandson, two decades before the entire compound was destroyed.

Scholars have long been familiar with Josephus' account, but the find is nonetheless important because it offers the "first clear-cut archaeological evidence that part of the enclosure wall was not built by Herod," said archaeologist Aren Maeir of Bar-Ilan University, who was not involved in the dig.

Josephus also wrote that the end of construction left 18,000 workmen unemployed in Jerusalem. Some historians have linked this to discontent that eventually erupted in the Jewish revolt.

The compound, controlled since 1967 by Israel, now houses the Al-Aqsa Mosque and the golden-capped Muslim shrine known as the Dome of the Rock. The fact that the compound is holy both to Jews and Muslims makes it one of the world's most sensitive religious sites.

The dig in which the coins were discovered cleared a Roman-era drainage tunnel that begins at the biblical Pool of Siloam, one of the city's original water sources, and terminates with a climb up a ladder out onto a 2,000-year-old street inside Jerusalem's Old City. The tunnel runs by the foundation stones of the compound's western wall, where the coins were found.

The drainage tunnel was excavated as part of the dig at the City of David, which is perhaps Israel's richest archaeological excavation and its most contentious.

The dig is being carried out inside the Palestinian neighborhood of Silwan, and is funded by a group associated with the Israeli settlement movement that opposes any division of the city as part of a future peace deal.

The excavation of the tunnel has also yielded a Roman sword, oil lamps, pots and coins that scholars believe are likely debris from an attempt by Jewish rebels to hide in the underground passage as they fled from the Roman soldiers.

Source: http://us.rd.yahoo.com/dailynews/rss/world/*http%3A//news.yahoo.com/s/ap/20111123/ap_on_re_mi_ea/ml_israel_holy_compound

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Shadow looms over China's Internet lending market (Reuters)

SUZHOU, China (Reuters) ? One of the worst cash crunches in decades is hitting Chinese companies, but for Pan Zhengqiang, borrowing money recently has been as smooth as the well-oiled machines at his widget factory in the farmlands surrounding Suzhou.

In China, bank loans are mostly off limits to small businesses. Many entrepreneurs have long relied on funding from friends and family, but that source is drying up, too.

Instead, a boom in online sites that link up private lenders and borrowers, also known as peer-to-peer or P2P lending sites, have brought Pan and his wife Huang Yanhong a new stable stream of financing.

"Sometimes we have a sudden, short-term need for funding. We might get a new big order, or a client may delay a payment," said Huang, who like her husband is a former factory worker.

The couple have 60,000 yuan ($9,375) in outstanding loans from PaiPaiDai (www.ppdai.com), one of China's best known online lending sites.

They pay about 22 percent in annual interest -- more than triple China's benchmark lending rate of 6.56 percent -- and can get the funds in as fast as three days.

"Without PaiPaiDai, we'd have huge difficulty."

Small firms, which account for 75 percent of the urban job sin China, have borne the brunt of credit curbs as banks have preferred to lend to big, state-backed enterprises, forcing them to turn to high-interest informal loan markets and raising the risk of a credit collapse.

PaiPaiDai has more than 120 million yuan in outstanding loans to 10,000 borrowers, most of them tiny businesses like Pan and Huang's. The limit on lending is 200,000 yuan, and the average loan size is 9,000 yuan.

LUCRATIVE RETURNS FOR LENDERS

Borrowers need to upload a range of personal information, including a scan of their ID card and their household registration book, which contains all the details of the person's family, birth place, family home and education.

If the borrower is late in paying, the information, starting from the mobile phone number, is gradually released to the lender.

Less than 1 percent of its loans have gone bad, said co-founder Hu Honghui.

For people like PaiPaiDai lender Zhou Yongxin, who has lent out more than 400,000 yuan, these sites are a welcome investment channel. Stamps and coins, which he also invests in, are tricky to sell and he's been burned by the stock market.

Zhou has made about 20 percent on his investments through the site this year, with about 1 percent of loans going bad.

The lending business is risky as there is no collateral. When loans turn sour, lenders some times resort to posting information on the Internet and hounding borrowers to repay.

WARNING OF ABUSES

While online financing fills a crucial need in China, lack of regulation is leading to abuses. There are no statistics for the size of the P2P industry, but Hu of PaiPaiDai has counted more than 30 online P2P loan sites that have sprung up.

That is against a backdrop of micro-credit loans more than doubling in a year to 287.5 billion yuan by the end of June, according to data from the central bank.

Some firms guarantee principal and interest to lure money from Chinese lenders fed up with negative real interest rates on their savings deposits. Others essentially pool money into a fund, rather than offering the relatively transparent, one-to-one online matches of borrowers and lenders.

"It happens quite often that one person will borrow money from several online lending sites and then the risk is huge," PaiPaiDai lender Zhou said.

"So we hope the government will come out with some regulations for the industry."

In August, the China Banking Regulatory Commission issued a warning about P2P lending. It said some P2P lending firms have evolved into illegal financing firms, taking deposits and making loans.

The CBRC declined to answer questions on the issue.

"I think the information disclosure is very bad. Even the P2P company and the investor, they don't know whether the borrower is trustworthy or credible," said Gary Liu, deputy director at CEIBS Lujiazui International Finance Research Center, a Shanghai-based think tank.

"They don't have enough information to control the risk."

The CBRC warning alarmed some foreign venture capital investors, who had been interested in the vast potential of China's consumer finance market. A year ago, new regulations for online payment systems, the Chinese versions of PayPal, forced out some foreign investors who had taken stakes in that sector.

But foreign firms are keeping their eye on the opportunities. U.S. P2P lending site Prosper Marketplace Inc. hopes a recent $7 million investment from China-focused investment firm IDG Capital Partners will help it get to China, according to CEO Chris Larsen.

IDG also invested in CreditEase, China's largest P2P lender. Larsen said he expects a period of regulatory adjustments will eventually help the industry in China.

CreditEase does not see any regulatory threats to its business or its big foreign investors, which also include U.S. venture capital firm Kleiner Perkins Caufield Byers. KPCB did not reply to questions about its investment in CreditEase.

"We foresee more and more regulatory scrutiny. I think for a healthy industry, it's about self discipline," said CreditEase CEO Tang Ning.

Tang has built up a P2P lending business with more than 1 billion yuan in outstanding loans to over 70,000 Chinese, including farmers, students and entrepreneurs. The company has 8,000 team members screening applicants in over 50 cities across China.

Unlike PaiPaiDai, the CreditEase website does not allow new lenders or borrowers to meet directly. For Tang, how the two parties are paired up is less important than making sure both sides are real.

"How a loan is made is not legally regulated. A bank or an individual can make a credit or a collateral loan. No problem," he said.

(Additional reporting by Lucy Hornby in Beijing; Editing by Lucy Hornby and Jacqueline Wong)

Source: http://us.rd.yahoo.com/dailynews/rss/internet/*http%3A//news.yahoo.com/s/nm/20111125/wr_nm/us_china_lending

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Debt panel's demise sets up partisan wrangling (AP)

WASHINGTON ? The failure of a special deficit-reduction supercommittee sets up a year-end battle between President Barack Obama and a dysfunctional Congress over renewing a payroll tax cut and jobless benefits for millions.

At the same time, the debt panel's failure triggers deep, automatic cuts to the Pentagon budget, beginning in 2013, that defense hawks already are dedicated to unwinding. Domestic programs would bear cuts as well.

And the panel's failure puts taxes and out-of-control deficits front and center in next year's presidential and congressional campaigns. The election's outcome is likely to determine whether Bush-era tax cuts that expire in December 2012 will be fully renewed or whether Obama can force Republicans to make concessions on taxes.

Obama supports renewing most of the Bush tax cuts but wants to allow tax rates for wealthier earners to go up.

"He won't sign a full extension," said a senior administration official, requiring anonymity to discuss White House strategy. "We're going to be in the position at the end of next year where the president is saying: `I'm not going to sign a full extension, but send me the middle-class tax cuts.'"

The panel's failure to reach agreement on how to cut deficits by $1.2 trillion or more over 10 years was not unexpected but grew out of intractable divisions over spending and taxes that promise to hound lawmakers through 2012 elections that could sort it all out.

Stock prices plummeted at home and across debt-scarred Europe on Monday as the panel ended its brief, secretive existence without an agreement. Republicans and Democrats alike pointed fingers, maneuvering for political advantage in advance of elections less than a year away.

Lawmakers of both parties agreed action in Congress was still required, somehow and soon.

"Despite our inability to bridge the committee's significant differences, we end this process united in our belief that the nation's fiscal crisis must be addressed and that we cannot leave it for the next generation to solve," the panel's two co-chairs, Sen. Patty Murray, D-Wash., and Rep. Jeb Hensarling, R-Texas, said in a somber statement.

Obama, who was criticized by Republicans for keeping the committee at arm's length, said refusal by the GOP to raise taxes on the wealthy was the main stumbling block to a deal.

Obama pledged to veto any attempt by lawmakers to repeal a requirement for $1 trillion in automatic spending cuts that are to be triggered by the supercommittee's failure to reach a compromise, unless Congress approves an alternative approach.

"I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. There will be no easy off-ramps on this one," Obama said.

The panel's failure left lawmakers confronting a large and controversial agenda for December, including Obama's call to extend an expiring payroll tax cut enacted last year to prop up the economy, as well as unemployment benefits averaging about $300 a week for the long-term jobless.

Neither item is an easy lift, especially given the hard feelings ? and presidential politics ? consuming Washington.

Democrats had wanted to add those items and more to any compromise, and lawmakers in both parties also face a struggle to stave off a threatened 27 percent cut in payments to doctors who treat Medicare patients.

Based on accounts provided by officials familiar with the talks, it appeared that weeks of private negotiations had done nothing to alter a fundamental divide between the two political parties.

Before and during the talks, Democrats said they would agree to significant savings from benefit programs like Medicare, Medicaid and Social Security only if Republicans would agree to a hefty dose of higher taxes, including cancellation of Bush-era cuts at upper-income brackets.

In contrast, the GOP side said spending, not revenue, was the cause of the government's chronic budget deficits, and insisted that the tax cuts approved in the previous decade all be made permanent.

The panel's failure marked the end of a yearlong effort by divided government to grapple with budget deficits that lawmakers of both parties and economists of all persuasions agreed were unsustainable.

Negotiations this spring and summer led by Vice President Joseph Biden were followed by an extraordinary round of White House talks in which Obama and House Speaker John Boehner, R-Ohio, sought a sweeping compromise to cut trillions from future deficits. They outlined a potential accord that would make far-reaching changes in Medicare and other programs, while generating up to $800 billion in higher revenue through an overhaul of the tax code. But in the end, they failed to agree.

By contrast, the supercommittee never seemed to come close.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_go_co/us_debt_supercommittee

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Republicans bash Pakistan in debate (reuters)

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Pandora shares fall on fears of competition, outlook (Reuters)

(Reuters) ? Shares of Pandora Media fell more than 10 percent on Wednesday after the online streaming music service company gave a muted fourth-quarter outlook.

The company posted higher-than-expected third-quarter earnings and revenue after the market closed on Tuesday.

Investors shrugged off that news and focused on broader concerns about the company's growth potential, given a flock of competitors as well as executives' remarks about fourth-quarter revenue.

"We are not comfortable adding to shares at current levels due to valuation and the increased competitive threat from other social music platforms, despite differences in the business models compared to Pandora's Internet radio platform," Stifel Nicolaus analyst Jordan Rohan wrote in a note to investors on Wednesday.

Stifel Nicolaus has a "hold" rating on Pandora stock.

Pandora, which has been around for a decade, runs a mostly free service that recommends different songs based on listener's playlists. Almost 90 percent of its revenue comes from advertising.

The company faces competition on all flanks, from traditional radio companies such as Clear Channel, which has started its own customized online streaming service; satellite radio providers such as Sirius XM Radio Inc; and Spotify, which allows users to integrate its streaming music through Facebook.

Investors had been eagerly awaiting Pandora's initial public offering in June, but the stock price has sunk about 32 percent since then. The company's market capitalization is roughly $2 billion.

Pandora said it expected fourth-quarter revenue of $80 million to $84 million. Rohan wrote that was "below previously implied guidance of $83 million at the mid-point."

During a conference call with analysts on Tuesday, Pandora said it was taking a responsible approach to its forecast, keeping a watchful eye on advertisers who might cut back on fears of a wider economic downturn.

"There's no impact at the moment, but we are paying close attention to what's going on in the marketplace," Pandora Chief Financial Officer Steve Cakebread said during the call.

Shares of the company were down 10.5 percent at $10.60 in morning trading.

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/nm/20111123/wr_nm/us_pandoramedia

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US military deaths in Iraq war at 4,485 (AP)

As of Tuesday, Nov. 22, 2011, at least 4,485 members of the U.S. military had died in the Iraq war since it began in March 2003, according to an Associated Press count.

The figure includes nine military civilians killed in action.

At least 3,527 military personnel died as a result of hostile action, according to the military's numbers.

The AP count is one fewer than the Defense Department's tally, last updated Monday at 10 a.m. EST.

Since the start of U.S. military operations in Iraq, 32,224 U.S. service members have been wounded in hostile action, according to the Defense Department's weekly tally.

___

The latest identifications reported by the military:

_Spc. David E. Hickman, 23, of Greensboro, N.C., died Nov. 14, in Baghdad, Iraq, of injuries suffered after encountering an improvised explosive device; assigned to 2nd Battalion, 325th Airborne Infantry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division, Fort Bragg, N.C.

___

Online: http://www.defense.gov/news/

Source: http://us.rd.yahoo.com/dailynews/rss/iraq/*http%3A//news.yahoo.com/s/ap/20111122/ap_on_go_ca_st_pe/us_iraq_us_deaths

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Oil prices fall sharply on fears of slow growth (AP)

NEW YORK ? Oil prices fell nearly two percent Monday over fears that the world economy will remain weak and push down demand for crude.

West Texas Intermediate oil, which is used as a benchmark to price oil in much of the U.S., fell $1.30 to $96.37 in midday trading in New York. Brent crude, which is used to price many foreign varieties of price oil, fell $1.45 to $105.95 in London.

The global economy is under assault from several directions. The inability of Europe to deal with its crushing debt problems is raising concerns that the region will fall into recession. Also, as long as the crisis continues, the fear remains that the world financial system could seize up if European banks and banks with ties to Europe stop lending.

"The market's biggest concern is the ongoing strife in Europe and the uncertainty that brings," said Phil Flynn, an analyst at PFG Best in Chicago.

When the economy slows, demand for crude oil and refined products like diesel and gasoline falls because fewer goods are produced and shipped, and people travel less.

The U.S. national average for retail gasoline fell slightly to $3.351 from $3.359 on Monday, according to AAA, Oil Price Information Service and Wright Express.

Another concern is that the Congressional committee set up to reduce U.S. spending, known as the super committee, will fail to come up with a plan. That could lead to further gridlock in Washington at a time when the U.S. economy is fragile.

"The supercommittee isn't looking very super," Flynn said.

Oil is also being pushed lower by a stronger U.S. dollar. Oil is priced in dollars, so when the dollar becomes more valuable compared with other currencies, oil becomes more expensive to holders of foreign currency and they tend to buy less of it.

Benchmark U.S. crude spiked to nearly $103 a barrel last Wednesday after a pipeline company announced plans to try to relieve a glut of landlocked oil at a major hub in Oklahoma by shipping it to the gulf coast. Brent crude fell because the plan would add to supplies of oil that can be shipped by sea, relieving a relative shortage.

Now both are falling because economies around the world may need less oil no matter how it is delivered.

In other energy trading in New York, natural gas rose 7 cents to $3.39 per 1,000 cubic feet, gasoline futures lost a penny at $2.4715 a gallon and heating oil fell 4 cents to $2.9903 a gallon..

Jonathan Fahey can be reached at http://twitter.com/JonathanFahey

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20111121/ap_on_bi_ge/us_oil_prices

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