UK ‘to avoid triple-dip recession’







The UK will avoid falling into a so-called triple-dip recession, according to the business lobby group, the CBI.






The group believes that the UK economy will grow 0.3% in the first quarter of the year.


That comes after the economy shrunk in the last quarter – the first period in what some feared might be another six months of negative growth.


But the CBI now expects the UK to grow 1% in 2013 – less than the 1.4% it previously expected.


“We are beginning to see the return of organic growth, with clear signs that firms offering the right products into the right markets are growing sales and expanding,” said CBI director-general John Cridland.


“Recent business surveys also give grounds for cautious optimism about our forward prospects.”


But he warned that “after the uncertainties of 2012, the fear of external storm clouds lingers”, referring to the eurozone debt crisis and weak global growth.


The business group said that inflation will likely climb during the year but it does not expect a further round of quantitative easing.


The Bank of England has so far pumped £375bn into the financial system, creating money through “asset purchases” of buying government bonds.


Earlier this month, the Organisation for Economic Co-operation and Development (OECD) said the Bank should consider injecting more money into the economy if growth remains weak.


The UK economy bounced back to growth in the third quarter of last year, boosted by the Olympics, after shrinking for the previous nine months. Prior to that, the UK was in recession at the height of the financial crisis in 2008.


If the economy were to also shrink in the first three months of 2013, then the UK would re-enter recession, defined as two consecutive quarters of contraction.


The UK has still not recovered the levels of output seen before 2008.


BBC News – Business





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Pope’s sudden resignation sends shockwaves through Church






VATICAN CITY (Reuters) – Pope Benedict stunned the Roman Catholic Church including his closest advisers on Monday when he announced he would stand down in the first papal abdication in 700 years, saying he no longer had the mental and physical strength to run the Church through a period of major crisis.


Church officials tried to relay a climate of calm confidence in the running of a 2,000-year-old institution but the decision could lead to one of the most uncertain and unstable periods in centuries for a Church besieged by scandal and defections.






Several popes in the past, including Benedict‘s predecessor John Paul, refrained from stepping down even when severely ill, precisely because of the confusion and division that could be caused by having an “ex-pope” and a reigning pope living at the same time.


This could create a particularly difficult problem if the next pope is a progressive who influences such teachings as the ban on women priests and artificial birth control and its insistence on a celibate priesthood.


The Church has been rocked during Benedict’s nearly eight-year papacy by child sexual abuse crises and Muslim anger after the pope compared Islam to violence. Jews were upset over rehabilitation of a Holocaust denier and there was scandal over the leaking of the pope’s private papers by his personal butler.


In an announcement read to cardinals in Latin, the universal language of the Church, the 85-year-old said: “Well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of St Peter …


“As from 28 February 2013, at 20:00 hours (1900 GMT) the See of Rome, the See of St. Peter will be vacant and a conclave to elect the new Supreme Pontiff will have to be convoked by those whose competence it is.”


POPE DOESN’T FEAR SCHISM


At a news conference, chief Vatican spokesman Father Federico Lombardi said the pope did not fear a possible “schism” in the Church, with Catholics owing allegiances to a past and present pope in case of differences on Church teachings.


The pope, known for his conservative doctrine, stepped up the Church’s opposition to gay marriage, underscored the Church’s resistance to a female priesthood and to embryonic stem cell research.


But Lombardi said Benedict, who is expected to go into isolation for at least a while after his resignation, did not intend to influence the decision of the cardinals who will enter a secret conclave to elect a successor.


A new leader of the world’s 1.2 billion Roman Catholics could be elected as soon as Palm Sunday, on March 24, and be ready to take over by Easter a week later, Lombardi said.


He indicated the complex machinery of the process to elect a new pope would move quickly because the Vatican would not have to wait until after the elaborate funeral services for a pope.


The decision shocked many throughout the world, from ordinary believers, to politicians to world religious leaders.


“This is disconcerting, he is leaving his flock,” said Alessandra Mussolini, a parliamentarian who is granddaughter of Italy’s wartime dictator.


“The pope is not any man. He is the vicar of Christ. He should stay on to the end, go ahead and bear his cross to the end. This is a huge sign of world destabilization that will weaken the Church.”


OWN BROTHER SURPRISED


The announcement even caught the pope’s elder brother Georg Ratzinger, off guard, indicating just how well-kept a secret it was. Ratzinger told reporters in Germany that he had been “very surprised” and added: “He alone can evaluate his physical and emotional strength.”


Lombardi said Benedict would first go to the papal summer residence south of Rome and then move into a cloistered convent inside the Vatican walls. It was not clear if Benedict would have a public life after he resigns.


The last pope to resign willingly was Celestine V in 1294 after reigning for only five months, his resignation was known as “the great refusal” and was condemned by the poet Dante in the “Divine Comedy”. Gregory XII reluctantly abdicated in 1415 to end a dispute with a rival claimant to the papacy.


Lombardi said Benedict’s stepping aside showed “great courage”. He ruled out any specific illness or depression and said the decision was made in the last few months “without outside pressure”.


Joseph Curran, professor of religious studies at Misericordia University in Dallas, Pennsylvania, said the modern medicine prolonging the life of people had posed difficulties for institutions whose leaders usually rule for life.


“His resignation is a tremendous act of humility and generosity,” he said. “A man who lives up a position of authority because he can no longer adequately exercise that authority, and does so for the good of the Church, is setting a wonderful example,” he said.


But Cardinal Stanislaw Dziwisz, secretary to the late Pope John Paul, who suffered through bad health for the last decade of his life, had a thinly veiled criticism of Benedict. John Paul stayed to the end of his life as he believed “you cannot come down from the cross,” Dziwisz told reporters in Poland.


NO HINT OF RESIGNATION


While the pope had slowed down recently – he started using a cane and a wheeled platform to take him up the long aisle in St Peter’s Square – he had given no hint recently that he was mulling such a dramatic decision.


Elected in 2005 to succeed the enormously popular John Paul, Benedict never appeared to feel comfortable in a job he said he never wanted. He had wished to retire to his native Germany to pursue his theological writings, something which he will now do from a convent inside the Vatican.


The resignation means that cardinals from around the world will begin arriving in Rome in March and after preliminary meetings, lock themselves in a secret conclave and elect the new pope from among themselves in votes in the Sistine Chapel.


There has been growing pressure on the Church for the cardinals to shun European contenders and choose a pope from the developing world in order to better reflect parts of the globe where most Catholics live and where the Church is growing.


John Paul was only 58 when he was elected in 1978 – 20 years younger than Benedict when he was elected – and some commentators said the resignation would likely convince the cardinals to elect a younger man.


“MIND AND BODY”


In his announcement, the pope told the cardinals that in order to govern “… both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfil the ministry entrusted to me.”


Before he was elected pope, the former Cardinal Joseph Ratzinger, was known by such critical epithets as “God’s rottweiler” because of his stern stand on theological issues.


After a few months, he showed his mild side but he never drew the kind of adulation that had marked the 27-year papacy of his predecessor John Paul.


The Archbishop of Canterbury, leader of the worldwide Anglican communion at odds with the Vatican over women priests, said he had learned of the pope’s decision with a heavy heart but complete understanding.


German Chancellor Angela Merkel said the pope’s decision must be respected if he feels he is too weak to carry out his duties. British Prime Minister David Cameron said: “He will be missed as a spiritual leader to millions.”


Elected to the papacy on April 19, 2005, Benedict ruled over a slower-paced, more cerebral and less impulsive Vatican.


CHEERS AND SCANDAL


But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.


After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be pope in his way.


Despite great reverence for his charismatic, globe-trotting predecessor — whom he put on the fast track to sainthood and whom he beatified in 2011 — aides said he was determined not to change his quiet manner to imitate John Paul‘s style.


A quiet, professorial type who relaxed by playing the piano, he showed the gentle side of a man who was the Vatican’s chief doctrinal enforcer for nearly a quarter of a century.


The first German pope for some 1,000 years and the second non-Italian in a row, he traveled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.


The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.


Scandal from a source much closer to home hit in 2012 when the pontiff’s butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican’s business dealings, causing an international furor.


Benedict confronted his own country’s past when he visited the Nazi death camp at Auschwitz.


Calling himself “a son of Germany”, he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.


Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler’s regime.


(Additional reporting by James Mackenzie, Barry Moody, Cristiano Corvino, Alexandra Hudson in Berlin, and Dagamara Leszkowixa in Poland; editing by Peter Millership, Ralph Boulton, Janet McBride)


World News Headlines – Yahoo! News





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Trump may have trouble collecting on $5 million orangutan bet






NEW YORK (Reuters) – A comedian, a millionaire and an orangutan. It may sound like the beginning of a screwball joke, but Donald Trump isn’t laughing.


The famously outspoken real estate magnate has sued famously outspoken television host Bill Maher, demanding the $ 5 million Maher offered to give to charity if Trump could prove his father is not an orangutan.






But legal experts say Trump is unlikely to get a dime from Maher, the host of the HBO series Real Time With Bill Maher, because his offer was clearly made in jest.


“It’s parody,” said Bryan Sullivan, a Los Angeles entertainment lawyer. “You know Bill Maher is a comedian and a satirist. The offer is so ridiculous.”


Trump, however, has taken the comic at his word.


“Attached hereto is a copy of Mr. Trump’s birth certificate, demonstrating that he is the son of Fred Trump, not an orangutan,” Trump’s lawyer, Scott Balber, wrote to Maher last month.


When Maher did not respond, Trump filed a breach of contract lawsuit last week in Los Angeles Superior Court.


A Maher spokeswoman referred to his show Friday, in which he ridiculed Trump’s lawsuit.


“It’s never a joke when someone reneges on a commitment that benefits worthy charities,” said Michael Cohen, special counsel to Trump, in response. “The tone of Mr. Maher’s diatribe on Friday evening suggests he is far more concerned with the lawsuit than he wants the public to believe.”


Last year, during the presidential campaign, Trump offered to give $ 5 million to charity if President Barack Obama would release his college records. Trump, who flirted with a possible White House run, previously questioned Obama’s citizenship and boasted that he prompted Obama to release his birth certificate.


As a guest on NBC’s The Tonight Show last month, Maher offered to give $ 5 million to charity if Trump could prove he was not the son of an orangutan, since the ape’s orange fur matches the color of Trump’s trademark gravity-defying coiffure.


“He can donate to a charity of his choice,” Maher said. “Hair Club for Men; the Institute for Incorrigible Douchebaggery. Whatever charity.”


Under contract law, a verbal offer can create a contractual obligation. But courts make exceptions for obviously satirical offers.


In a New York federal case, Leonard vs. Pepsico, a man sued the soft drink maker after it refused to honor a TV advertisement “offer” of a fighter jet for redeemable Pepsi Points.


District Judge Kimba Wood in Manhattan said an offer made “evidently in jest” is not a contract and noted the commercial featured a teenager using the jet to get to school.


“This fantasy is, of course, extremely unrealistic,” Wood wrote.


Trump’s lawsuit alleges that Maher’s show is political commentary, not comedy. In a Fox News appearance last week, Trump said he was certain Maher’s offer was not a joke.


“That was venom,” Trump said. “That wasn’t a joke.”


(Reporting by Joseph Ax. Editing by Andre Grenon)


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Need surgery? Good luck getting hospital cost info






CHICAGO (AP) — Want to know how much a hip replacement will cost? Many hospitals won’t be able to tell you, at least not right away — if at all. And if you shop around and find centers that can quote a price, the amounts could vary astronomically, a study found.


Routine hip replacement surgery on a healthy patient without insurance may cost as little as $ 11,000 — or up to nearly $ 126,000.






That’s what researchers found after calling hospitals in every state, 122 in all, asking what a healthy 62-year-old woman would have to pay to get an artificial hip. Hospitals were told the made-up patient was the caller’s grandmother, had no insurance but could afford to pay out of pocket — that’s why knowing the cost information ahead of time was so important.


About 15 percent of hospitals did not provide any price estimate, even after a researcher called back as many as five times.


The researchers were able to obtain a complete price estimate including physician fees from close to half the hospitals. But in most cases, that took contacting the hospital and doctor separately.


“Our calls to hospitals were often greeted by uncertainty and confusion,” the researchers wrote. “We were frequently transferred between departments, asked to leave messages that were rarely returned, and told that prices could not be estimated without an office visit.”


Many hospitals “are just completely unprepared” for cost questions, said Jaime Rosenthal, a Washington University student who co-authored the report.


Most hospitals aren’t intentionally hiding costs, they’re just not used to patients asking. That’s particularly true for patients with health insurance who “don’t bother to ask because they know insurance will cover it,” said co-author Dr. Peter Cram, a researcher at the University of Iowa’s medical school.


But he said that’s likely to change as employers increasingly force workers to share more health care costs by paying higher co-payments and deductibles, making patients more motivated to ask about costs.


The study was published online Monday in JAMA Internal Medicine. A California study published last year about surgery to remove an appendix found similar cost disparities.


Commenting on the study, American Hospital Association spokeswoman Marie Watteau said hospitals “have a uniform set of charges. Sharing meaningful information, however, is challenging because hospital care is unique and based on each individual patient’s needs.”


She said states and local hospital associations are the best source for pricing data, and that many states already require or encourage hospitals to report pricing information and make that data available to the public.


U.S. insurance companies typically negotiate to pay less than the billing price. Insured patients’ health plans determine what they pay, while uninsured patients may end up paying the full amount.


The study authors noted that Medicare and other large insurers frequently pay between $ 10,000 and $ 25,000 for hip replacement surgery.


Sean Toohey, a grains broker at the Chicago Board of Trade, had hip replacement surgery last summer at Loyola University Medical Center in Maywood, Ill. An old sports injury had worn out his left hip, causing “horrendous” pain on the job, where he’s on his feet all day filling orders.


Toohey, 54, said his health insurance covered most of the costs, and it didn’t occur to him to ask about price beforehand. He was back at work two weeks later and is pain free. That’s what matters most to him.


“I never really looked or paid attention” to the cost, he said.


He paid about $ 7,900, but wasn’t sure what the total bill amounted to.


The average charge for hip replacement surgery at Loyola is about $ 42,000, before the negotiated insurance rates. The most expensive items on a typical hip replacement bill include about $ 11,000 for the hip implant, said Richard Kudia, Loyola’s vice president of patient financial services


Kudia said some patients do ask in advance about costs of surgery and other medical procedures, and those questions require “a little bit of research” to come up with an average estimate. Costs vary from center to center because “there is no standard pricing among hospitals across the country. Each hospital develops its own pricing depending on its market,” he said.


An editorial accompanying the hip replacement study said “there is no justification” for the huge cost variation the researchers found.


A few online sites provide price comparisons for common medical procedures, but the editorial said that kind of information “is of almost no value” without information on hospital quality.


A proposed federal measure that would have required states to force hospitals to make their charges public failed to advance in Congress last year but could be revived this year, the editorial says.


“It is time we stopped forcing people to buy health care services blindfolded,” the editorial said.


___


Online:


Journal: http://www.jamainternalmed.com


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Wall Street ends flat as investors seek new catalysts






NEW YORK (Reuters) – Stocks ended a quiet session with slight moves on Monday as investors found few reasons to keep pushing shares higher following a six-week advance, though the longer-term trend was still viewed as positive.


The benchmark index is up more 6.4 percent in 2013, putting both the S&P 500 and Dow industrials near multi-year highs. The S&P is less than 4 percent from its all-time intraday high of 1,576.09, hit in October 2007.






“This is still a market that looks terrific, but when you’re up for six weeks in a row, everyone is going to want to take a pause going into the seventh week even if there is no bad news out there,” said Eric Kuby, chief investment officer at North Star Investment Management in Chicago.


Volume was light, with about 4.812 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, well below the daily average so far this year of about 6.48 billion shares.


Wall Street was modestly lower throughout the session but regained some ground in the final hour of trading as Google Inc rebounded off earlier losses. Shares of the Internet search giant dipped 0.4 percent to $ 782.42, recovering from earlier declines of 1 percent after the company said in a filing former chief executive Eric Schmidt is selling roughly 42 percent of his stake in the company.


Also in the tech space, Apple Inc rose up 1 percent to $ 479.93 after the New York Times reported the iPhone maker was experimenting with the design of a device similar to a wristwatch.


The Federal Reserve’s Vice Chair Janet Yellen, seen as a potential successor to Fed Chairman Ben Bernanke next year, said the Fed is still aggressively stimulating an anemic U.S. economic recovery that has failed to bring rapid progress on employment.


The Dow Jones industrial average <.dji> was down 21.81 points, or 0.16 percent, at 13,971.16. The Standard & Poor’s 500 Index <.spx> was down 0.92 points, or 0.06 percent, at 1,517.01. The Nasdaq Composite Index <.ixic> was down 1.87 points, or 0.06 percent, at 3,192.00.</.ixic></.spx></.dji>


Upbeat U.S. and Chinese data last week helped the S&P 500 extend its weekly winning streak to six. The index gained about 8 percent over that period.


Equities have been strong performers lately and many investors have used any declines in the market as opportunities to buy.


“Everyone wants to buy on a dip in this market, but if you’re on the sidelines right now, the decline we’re seeing today just isn’t the kind you would jump in on,” Kuby said.


President Barack Obama will describe his plan for spurring the economy in his State of the Union address on Tuesday. He is expected to offer proposals for investment in infrastructure, manufacturing, clean energy and education.


Opposition has grown to the $ 24.4 billion buyout of Dell Inc , the No. 3 personal computer maker, as three of the largest investors joined Southeastern Asset Management on Friday in raising objections. Dell said in a regulatory filing it had considered many strategic options before opting to go private in a buyout led by Chief Executive Michael Dell.


Dell shares hovered near $ 13.65, the buyout offer price.


Regeneron Pharmaceuticals Inc shares rose 2.7 percent at $ 170.35 after it said longtime drug development partner Sanofi plans to boost its stake.


Moody’s Corp was one of the strongest percentage gainers on the S&P 500, rising 4.9 percent to $ 45.49. Last week the stock plunged 22 percent after the U.S. government launched a civil lawsuit against the company. The sell-off marked the stock’s worst week since October 2008.


About 53 percent of stocks traded on the New York Stock Exchange closed lower while slightly more Nasdaq-listed stocks closed in negative territory.


(Editing by Nick Zieminski)


Business News Headlines – Yahoo! News





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Islamists attack Malian troops in Gao






GAO, Mali (AP) — Black-robed Islamic extremists armed with AK-47 automatic rifles snuck into the city of Gao in canoes Sunday to launch a surprise attack on the Malian army in the most populous city in northern Mali, two weeks after French and Malian troops ousted the jihadists.


The combat started at about 2 p.m. in downtown Gao and the fighting was continuing as night fell. Later the sound of gunfire was replaced by the clattering of French military helicopters overhead.






The attack in Gao shows the Islamic fighters, many of them well-armed and with combat experience, are determined and daring and it foreshadows a protracted campaign by France and other nations to restore government control in this vast Saharan nation in northwest Africa.


The Islamic radicals fought against the Malian army throughout the afternoon and were seen roaming the streets and on rooftops in the center of Gao, which has a population of 90,000. Gunfire echoed across the city.


Families hid in their homes. One family handed plastic cups of water through the locked iron gate to others hiding on their patio. Piles of onions lay unattended where market women fled when the Islamists arrived. There were no signs of civilian casualties.


The fighting appeared to center near the police headquarters, where Malian soldiers with rocket propelled grenades traded fire with the combatants believed to be from the Movement for Oneness and Jihad in West Africa, or MUJAO. The only sound in the city was gunfire and the bleating of goats. Soldiers were positioned at every corner in the neighborhood of mud-walled buildings.


Ever since French forces took Gao on Jan. 26, the Islamic rebels had clashed with security forces on the city’s outskirts. This was the first time they succeeded in entering the strategic city.


The Islamic fighters used canoes to cross the Niger River to penetrate Gao, according to French Gen. Bernard Barera, who cited Malian officials.


The Islamic radicals had already tried to spread violence into Gao. On Saturday night, a suicide bomber detonated himself at a checkpoint at the entrance to the city, killing himself and injuring one Malian soldier. An earlier suicide bomber on a motorcycle also blew himself up at the same security spot on Friday, killing only himself.


Besides Gao, French and Malian forces have also retaken the fabled city of Timbuktu and other northern towns, pushing the Islamic extremists back into the desert, where they pose a constant threat to Malian and allied forces. But the Islamic fighters made strategic retreats and are dug into desert hideouts, from where they are expected to continue challenging the control of the cities by French, Malian and allied forces. Several African nations have contributed troops to battle the extremists, who imposed their harsh version of Islamic Shariah law when they controlled the northern cities.


The armed Islamic fighters seized the northern half of Mali in April 2012, sending poorly disciplined and equipped Malian forces retreating in disarray. France launched its military intervention in its former colony on Jan. 11 when the Islamic radicals, many of whom had fought for ex-Libyan leader Moammar Gadhafi, began encroaching on the south, threatening the capital Bamako which lies deep in southern Mali, 1,200 kilometers (750 miles) from Gao.


France has said that it wants to hand over responsibility to the Malian military and other African nations who have contributed troops and has raised with the United Nations Security Council the possibility of establishing a U.N. peacekeeping operation in Mali.


Africa News Headlines – Yahoo! News





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“Top Gun” takes in $1.9 million in 3D Imax re-release






LOS ANGELES (TheWrap.com) – There’s apparently still some thrust in the box-office afterburners for “Top Gun,” which took in $ 1.9 million from 300 Imax theaters over the weekend in a 3D re-release by Paramount.


The studio slotted its 1986 classic in a six-day run that began Friday with Imax to help publicize the film’s 3D Blu-ray release on February 19, so the box office is a bonus. It averaged roughly $ 6,600 per screen.






It was re-mastered for the big screen from high-resolution original negative scans and painstakingly converted to 3D by Legend3D under the supervision of the film’s director, Tony Scott.


The story of an elite group of pilots competing to be the best in their class earned a worldwide box office of more than $ 350 million in its initial release. The film stars Tom Cruise as Maverick and Kelly McGillis as his civilian instructor. Val Kilmer, Anthony Edwards and Meg Ryan co-star.


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FDA rebuff deals big blow to Novo Nordisk’s U.S. hopes






COPENHAGEN (Reuters) – U.S. regulators dealt a major blow to Novo Nordisk‘s hopes for its new long-acting insulin Tresiba by demanding the Danish drugmaker conduct additional clinical tests to assess potential heart risks.


Novo, the world’s biggest insulin maker, said the U.S. Food and Drug Administration (FDA) had requested additional data from a dedicated cardiovascular outcomes trial before it would consider approving Tresiba and related product Ryzodeg.






The drugmaker – which is banking on Tresiba to keep it in the lead in diabetes care – said on Sunday it did not expect to be able to provide the data during 2013. Analysts said the FDA’s stance could delay Tresiba until 2015 or 2016.


“They will have to make new studies and that will delay the launch of Tresiba in the U.S. by two to three years,” Sydbank analyst Soren Hansen said.


“It is a really bad situation … I expect the share will fall significantly on Monday.”


The setback for Tresiba, also known as degludec, is good news for rival makers of insulin medicines, including France’s Sanofi, whose Lantus product is under threat from Novo’s newer ultra-long-lasting treatment.


Most investors had expected a green light from the U.S. watchdog, following a positive recommendation from an advisory panel to the FDA last November.


Optimism about Tresiba and Ryzodeg – which combines degludec with another formulation of insulin – was further boosted by approval in Europe, where the drugs won a final go-ahead last month. They have also been approved in Japan.


Tresiba and Ryzodeg have been widely tipped by analysts to become multibillion-dollar-a-year sellers worldwide.


CONFOUNDS EXPECTATIONS


The FDA’s decision to issue Novo with a so-called “complete response letter” therefore confounded consensus expectations. Such letters are issued when the U.S. agency determines that an application cannot be approved in its existing form.


“We are surprised and disappointed to receive this letter, but we acknowledge this decision by the FDA and will work with the agency to determine the best path forward to completing the review,” Novo Chief Executive Lars Rebien Sorensen said in a statement.


Concerns about the cardiovascular safety of Tresiba are not new, but Novo and most analysts had thought the issue had been resolved.


The FDA advisers meeting last year expressed concern about a trend toward higher incidence of adverse heart events with the new insulin than with older ones. However, the differences seen in 16 large clinical trials were not statistically significant.


In addition to calling for new trials on Tresiba’s heart safety, the FDA said approval for Tresiba and Ryzodeg could not be granted until violations cited in a December 12 warning letter had been resolved.


Novo said the FDA’s decision not to grant approval at the present time was not expected to impact significantly its financial forecasts for the current year.


The big concern of investors, though, is that a lengthy delay in getting Tresiba launched in the world’s biggest drugs market will seriously undermine Novo’s ability to stay ahead of rivals such as Sanofi and Eli Lilly.


(Additional reporting by Ole Mikkelsen and Ben Hirschler; Editing by Maureen Bavdek and Dale Hudson)


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Israel’s Lieberman says Palestinian peace accord impossible






JERUSALEM (Reuters) – Israel has no chance of signing a permanent peace accord with the Palestinians and should instead seek a long-term interim deal, the most powerful political partner of Prime Minister Benjamin Netanyahu said on Saturday.


The remarks by Avigdor Lieberman, an ultranationalist whose joint party list with Netanyahu narrowly won a January 22 election while centrist challengers made surprise gains, seemed designed to dampen expectations at home and abroad of fresh peacemaking.






A spring visit to Israel and the Palestinian territories by U.S. President Barack Obama, announced this week, has stirred speculation that foreign pressure for a diplomatic breakthrough could build – though Washington played down that possibility.


In a television interview, ex-foreign minister Lieberman linked the more than two-year-old impasse to pan-Arab political upheaval that has boosted Islamists hostile to the Jewish state.


These include Hamas, rivals of U.S.-backed Palestinian President Mahmoud Abbas, who control the Gaza Strip and spurn coexistence with Israel though they have mooted extended truces.


“Anyone who thinks that in the center of this socio-diplomatic ocean, this tsunami which is jarring the Arab world, it is possible to arrive at the magic solution of a comprehensive peace with the Palestinians does not understand,” Lieberman told Israel’s Channel Two.


“This is impossible. It is not possible to solve the conflict here. The conflict can be managed and it is important to manage the conflict … to negotiate on a long-term interim agreement.”


Abbas broke off talks in late 2010 in protest at Israel’s settlement of the occupied West Bank. He angered Israel and the United States in November by securing a U.N. status upgrade that implicitly recognized Palestinian independence in all the West Bank, East Jerusalem and Gaza.


Israel insists it will keep East Jerusalem and swathes of West Bank settlements under any eventual peace deal. Most world powers consider the settlements illegal because they take up land seized in the 1967 Middle East war.


Lieberman, himself a West Bank settler, said the ball was “in Abu Mazen’s (Abbas’) court” to revive diplomacy.


Abbas has demanded Israel first freeze all settlement construction. With two decades gone since Palestinians signed their first interim deal with Israel, he has ruled out any new negotiations that do not solemnize Palestinian statehood.


Netanyahu’s spokesman Mark Regev noted that Lieberman, in the Channel Two interview, had said he was expressing his own opinion.


Asked how Netanyahu saw peace prospects for an accord with the Palestinians, Regev referred to a speech on Tuesday in which the conservative prime minister said that Israel, while addressing threats by its enemies, “must also pursue secure, stable and realistic peace with our neighbors”.


Netanyahu has previously spoken in favor of a Palestinian state, though he has been cagey on its borders and whether he would be prepared to dismantle Israeli settlements.


Lieberman’s role in the next coalition government is unclear as he faces trial for corruption. If convicted, he could be barred from the cabinet. Lieberman denies wrongdoing and has said he would like to regain the foreign portfolio, which he surrendered after his indictment was announced last year.


(Writing by Dan Williams; Editing by Stephen Powell)


World News Headlines – Yahoo! News





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Beyonce, Jay-Z, Rihanna hang at Roc Nation brunch






LOS ANGELES (AP) — Jay-Z and Beyonce sat tightly with Solange. Kelly Rowland embraced Beyonce with a huge hug. And Rihanna spilled some of her drink laughing with Rowland.


Music’s top stars attended the annual pre-Grammy Roc Nation brunch Saturday at the Soho House.






Grammy nominee Miguel, Timbaland, Jill Scott and Kylie Mingoue also attended the exclusive event.


Jay-Z is one of six acts nominated for six awards at Sunday’s Grammys. Rihanna is up for three trophies, and Beyonce is nominated for one award.


The crowd Saturday was full of members of music industry, who mingled with performers like The-Dream, Jordin Sparks, Melanie Fiona, Diane Warren, Christina Milian, MC Lyte and Santigold.


Entertainment News Headlines – Yahoo! News





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