Schwarzenegger takes a






LOS ANGELES (Reuters) – Arnold Schwarzenegger, taking inspiration from his idol, Clint Eastwood, returns to the big screen on Friday in the action film “The Last Stand,” his first starring role since he took a seven-year break from moviemaking to serve as California governor.


In a departure from his typical superhuman roles, Schwarzenegger plays a retired Los Angeles policeman forced to protect a tiny border town from a notorious drug kingpin. The 65-year-old former bodybuilder looks every bit his age and admits in the film feeling “old” as he takes a ribbing from some of his significantly younger deputies.






As he embarks on a movie comeback in which he will star in three films over the next 12 months, Schwarzenegger is embracing his age rather than trying to relive his glory days as an action star.


He is taking his cue from the 82-year-old Eastwood – the gun-toting former macho “Dirty Harry” star who eased into more senior roles, winning plaudits for movies like last year’s “The Trouble with the Curve,” and “Million Dollar Baby” in 2004, for which he was nominated for a best-actor Oscar and won for best director.


Schwarzenegger said he was inspired by Eastwood in the 1993 film “In the Line of Fire,” where Eastwood’s character, a Secret Service agent, is short of breath after running alongside the president’s limousine.


“I thought that was so cool,” Schwarzenegger told Reuters TV recently. “I remember how smart it was to acknowledge that because it took the curse off. No one was trying to say, ‘Isn’t he too old for this job?’ That’s what I tried to do in this film since (Eastwood) is a big idol of mine and I always like to learn from him.”


Schwarzenegger said he felt great physically, but that reality had set in. “I’m not a 30-year-old action hero anymore,” he said. “I’m now 65 years old, but I’m still doing action movies. I acknowledge that it’s a different ballgame now. I’m an older guy.”


In “Last Stand,” Schwarzenegger said he agreed to play the part of Sheriff Ray Owens because “it was kind of a traditional Schwarzenegger action movie” with “big blow-ups, a great story, good drama, fight scenes and action from the beginning to the end.”


Schwarzenegger began his transformation to an aging action star in the 2010 film “The Expendables” and its 2012 sequel where he played an aging movie star in an ensemble cast that included Sylvester Stallone and other older stars.


“I was very pleasantly surprised by the positive reaction,” said Schwarzenegger, who was Republican governor of California from 2003 to 2011.


‘I-DARE-YOU ATTITUDE’


Critics have mostly embraced Schwarzenegger’s return with “Last Stand,” despite the film’s modest budget. Film critic Marshall Fine called it “shamelessly entertaining,” while The Hollywood Reporter’s Todd McCarthy wrote that Schwarzenegger “still conveys the old self-confident, humorous I-dare-you attitude towards his adversaries.”


An older, wiser Schwarzenegger chose to play vintage roles in his other upcoming films as well. In September, he teams up again with Stallone in “The Tomb,” where they play aging inmates who plot a prison escape. Next January, Schwarzenegger will star in “Ten,” playing what the film’s director, David Ayer, called “a broken old drug warrior.”


In an interview with Reuters, Ayer said his No. 1 goal in working with Schwarzenegger was “transformation.” The director said he studied every frame of Schwarzenegger’s films, noting that most of the actor’s filmography had “a very specific tone, almost jocular in a sense, where it is not necessarily a psychologically realistic portrayal of a man or a character.”


“You look at all these performances, and the question is, have these characters been treated as something he can transform himself?” Ayer said. “I probably asked him to do things he wasn’t asked before. I knew I could take him someplace new. Some of these scenes required real, heavy lifting.”


In the end, Ayer believes moviegoers will be “blindsided” by what they see of Schwarzenegger on screen.


Yet even as Schwarzenegger attempts to widen his range as an actor, he is not leaving behind the genre films that made him famous.


That means going back to some of his popular franchises of the past, including a new “Conan the Barbarian” film that is expected to go into production later this year and a sequel to the 1988 action comedy “Twins” to be called “Triplets.”


“It’s important I pick projects that the fans, that the audiences like to see,” he said.


He already has another big fan in his friend Stallone, who talked him into acting in the two “Expendables” films.


“What is the definition of a star? Someone who people will wait three hours in the rain to see,” Stallone said. “And people still have their umbrellas out for him.”


(Editing by Peter Cooney)


Movies News Headlines – Yahoo! News





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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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Boeing probe focuses on battery, 787 deliveries halted






SEATTLE/TAKAMATSU, Japan (Reuters) – U.S. and Japanese aviation safety officials finished an initial investigation of a badly damaged battery from a Boeing Co 787 Dreamliner jet on Friday as Boeing said it was halting deliveries until the battery concerns were resolved.


Boeing said it would continue building the carbon-composite 787, but deliveries were on hold until the U.S. Federal Aviation Administration approved and implemented a plan to ensure the safety of potentially flammable lithium-ion batteries that prompted a widespread grounding of the new airplane this week.






In Washington, the top U.S. transportation official, Ray LaHood, said the 787 would not fly until regulators were “1,000 percent sure” it was safe. A week earlier, LaHood said he would not hesitate to travel on a Dreamliner.


Officials from the Federal Aviation Administration (FAA), U.S. National Transportation Safety Board (NTSB) and Boeing joined Japanese authorities looking into what caused warning lights to go off this week on an All Nippon Airways Co domestic flight, prompting the aircraft to make an emergency landing at Takamatsu airport in western Japan.


The incident prompted regulators in the United States and around the world to ground the 50 Dreamliners in service. [ID:nL1E9CH8CJ] The jet has been flying safely for 15 months, carrying more than 1 million passengers, but it has run into problems in recent weeks, including problems with fuel leaks.


The biggest safety concerns centered on its lithium-ion batteries, which are lighter than conventional batteries, pack more energy and are faster to recharge, but are also potentially flammable.


When the FAA announced the grounding of all six U.S.-operated 787s on Wednesday, the agency said airlines would have to show the batteries were safe and in compliance with its rules. It said both battery failures released flammable chemicals, heat damage and smoke – all of which could damage critical systems on the plane and spark a fire in the electrical compartment.


A Japanese safety official at Takamatsu airport told reporters that excessive electricity may have overheated the battery and caused liquid to spill out. Pictures released by investigators of the battery showed a burnt-out blue metal box with clear signs of liquid seepage.


GS Yuasa Corp, the Japanese firm that makes batteries for the Dreamliner, said it sent three engineers to Takamatsu to help the investigation.


A person at the company, who asked not to be named due to the sensitivity of the issue, said: “Our company’s battery has been vilified for now, but it only functions as part of a whole system. So we’re trying to find out exactly where there was a problem within the system.”


An official with Thales, the French company that makes control systems for the battery, referred all questions to Boeing.


At a news conference, the Japan Transport Safety Board (JTSB) said the charred battery and the systems around it would be sent to Tokyo for more checks. It said there were similarities with an earlier battery fire on a Japan Airlines Co 787 parked at Boston’s Logan International Airport.


“This information will go to Boeing and the FAA. They will assess it” before allowing the 787 to fly again in Japan, said Hideyo Kosugi, a JTSB inspector. He said the JTSB aimed to issue a report within a week but the U.S. review might take longer.


LaHood, the U.S. transportation secretary, said Friday he could not predict when the 787 would resume flight.


“So those planes aren’t flying now until we really have a chance to examine the batteries … That seems to be where the problem is,” said LaHood, who told a news conference on January 11 he would not hesitate to fly on the plane himself.


When pressed by reporters on Friday about whether he regretted his prior statements, LaHood said, “Last week it was safe.” What has changed since then, he said, is the fact that another incident occurred involving the batteries.


Karen Walker, editor of Air Transport World magazine, said La Hood and FAA Administrator Michael Huerta chose to “stand side by side” with Boeing executives and underscore the plane’s safety because of its huge importance to the U.S. economy as the first all-new American airliner in two decades.


“However, the joint statements of safety confidence and lack of an (airworthiness directive) until after a second serious incident … could potentially hurt Huerta and LaHood,” she wrote.


Boeing shares fell 0.3 percent to $ 75.04. Since the recent spate of issues began in early December, the stock is up 1.4 percent, against a gain of 5.4 percent for the S&P 500 over the same period.


Shares in the Kyoto-based battery maker GS Yuasa rose as much as 3.9 percent on Friday, having dropped around 18 percent since the January 7 battery fire in the auxiliary power unit (APU) of the JAL plane at Boston.


The U.S. investigation into that incident is focused on the Japanese-made batteries, with no indication the APU – built by United Technologies Corp’s Pratt & Whitney – was involved, said a person familiar with the government probe, who was not authorized to speak publicly.


Mark Rosenker, a former NTSB chairman, said Boeing conducted over 1.3 million hours of testing before deciding the lithium-ion batteries were safe to use on the 787, and the company had to satisfy additional rigorous tests to be granted a “special condition” by the FAA to use the batteries.


“I don’t believe there was corner cutting in any way. I believe the FAA has done a good job in its certification process. And Boeing is a very formidable and extremely careful airplane manufacturer. You don’t survive in this business by not making safe, efficient and reliable planes,” he said.


BIGGEST MARKET


Japan is the biggest market so far for the 787, with ANA and JAL operating 24 of the 290-seat wide-bodied planes, which have a list price of $ 207 million. Boeing has orders for close to 850 of the planes.


Goldman Sachs estimated the hit to ANA’s annual operating profit could be up to $ 40 million if the grounding of its 17 Dreamliners drags on through March. The plane makes up close to a tenth of ANA’s fleet and is crucial to its growth strategy.


ANA cancelled more than 60 domestic and international flights through Monday, affecting more than 10,000 passengers. JAL has cancelled 8 Dreamliner flights on its Tokyo-San Diego route until January 25. Other flights will switch to older planes.


A spokesman for the airline said ANA remained committed to the Dreamliner and would spare no effort to get it back in the air safely.


Australia’s Qantas Airways said it cancelled an order for one of 15 Dreamliners earmarked for its budget arm Jetstar. It said the decision to cancel was taken late last year, before the plane’s recent problems. Qantas has options to order 50 of the new generation aircraft.


Separately, Japan’s transport ministry said a fuel leak on another JAL-operated 787 last week was due to a malfunction in a drive mechanism that controls a valve. It said the British company that makes the valve was investigating. The ministry declined to name the firm.


BAD BATCH?


The use of new battery technology is among the cost-saving features of the 787, which Boeing says burns 20 percent less fuel than rival jetliners using older technology.


Hans Weber, president of TECOP International Ltd, a San Diego-based aviation consulting firm and former FAA adviser, said the incidents could be linked to a bad batch of batteries.


“We have to consider the suppliers were at one time producing a lot of equipment for the 787 and then everything got delayed, so some of the stuff they built has been sitting on the shelf for a while. Some of these might have been produced early in the production process and there may have been some deficiencies in the production process,” he said.


The 787, a leap in aircraft design, has been plagued by cost overruns and years of delays, though orders last year helped Boeing overtake rival Airbus as the world’s largest manufacturer of passenger jets.


(Additional reporting by Yoshiyuki Osada, James Topham, Mari Saito, Issei Kato, Maggie Lu Yueyang, Herng Shinn Cheng, Ruairidh Villar, William Rigby, Alina Selyukh and Andrea Shalal-Esa; Writing by Ian Geoghegan; Editing by Jeremy Laurence, Gary Hill, Kenneth Barry and David Gregorio)


Business News Headlines – Yahoo! News





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REPEAT-BMO Study: TFSAs Gaining Ground While RRSPs Remain Popular Among Canadian Investors






TORONTO, ONTARIO–(Marketwire – Jan 19, 2013) – With the annual deadline for contributing to a Registered Retirement Savings Plan (RRSP) fast approaching, many Canadians are wondering whether they should invest solely in an RRSP or split their investment dollars between an RRSP and a Tax-Free Savings Account (TFSA). While the two investment vehicles complement each other and boast impressive adoption rates among Canadians, a BMO study has found that many are intrigued by the TFSA, in particular.


According to the national study:






  • Two-thirds (67 per cent) of Canadians have an RRSP and 39 per cent have a TFSA.

  • If they were given a limited amount of money to invest, 42 per cent of Canadians would invest the funds in a TFSA while 37 per cent would put it towards a RRSP.

  • The most attractive TFSA benefits cited were that investments are tax-free (36 per cent) and that funds can be withdrawn at any time (20 per cent).

“Whether saving for travel, the purchase of a home, a child”s education or retirement, it”s encouraging to see that Canadians are investing in their future by contributing to TFSAs and RRSPs,” said Serge Pépin, Vice President, Investment Strategy, BMO Asset Management Inc. “Both programs play important roles in helping Canadians save and invest in a tax-efficient manner. They complement each other and should be used in unison, so it”s important that investors understand their differences.”


Mr. Pépin noted that a TFSA allows Canadians to easily earn tax-free investment income to meet their savings needs. Key benefits of this registered plan include:


  • No minimum contribution required to open an account

  • Investors pay no income tax on investment returns earned in the account

  • There are no taxes on funds that are withdrawn

  • TFSAs can hold a wide range of investments

  • The federal government recently raised the annual contribution limit for a TFSA from $ 5,000 to $ 5,500

An RRSP, on the other hand, is a tax-deferred savings vehicle that is designed specifically to help Canadians save for their retirement. An RRSP is also a wise investment tool because:


  • Investment growth is tax-free until withdrawn, meaning retirement wealth has the potential to grow faster than if invested outside an RRSP

  • Contributions to an RRSP are typically tax deductible, lowering annual taxable income and income taxes payable

  • RRSPs can hold a wide range of qualified investments

  • Funds can easily transition to retirement income

  • Spouses can split income to reduce their combined taxes payable

“Ideally, Canadians should be contributing to both a TFSA and an RRSP because they each offer distinct advantages,” added Mr. Pépin.


BMO offers Canadians special, limited time TFSA and RRSP promotions


To encourage Canadians to boost their savings and invest for their future, BMO has introduced special offers on TFSA Savings Account deposits and RRSP contributions:


  • Until April 30th, 2013, BMO is offering a 2.25 per cent interest rate on net new deposits to a BMO TFSA Savings Account – the highest rate currently offered by a major financial institution in Canada.

  • Until March 1st, 2013, if you set up and maintain a new RRSP continuous savings plan in your BMO mutual funds account for 12 months, you will receive a one-time 15 per cent bonus on your first month”s contribution (up to a maximum of $ 150). 

For more information on the TFSA, please visit: www.bmo.com/TFSA.


For more information on the RRSP, please visit: www.bmo.com/Retirement.


Get the latest BMO press releases via Twitter by following @BMOmedia.


The Pollara online survey was completed between October 11 and October 16, 2012, with a sample of 1,000 Canadians. A probability sample of this size would yield results accurate to ± 3.1 per cent, 19 times out of 20.


BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from the Bank of Montreal.


Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.


Marketwire News Archive – Yahoo! Finance




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Record 73 early entries for NFL draft


NEW YORK (AP) — A record 73 underclassmen, including six first-team All-Americans, have been approved for the NFL draft on Saturday.


That overall number of early entries is eight more than last year.


The six All-Americans are safety Matt Elam of Florida, tight end Zach Ertz of Stanford, tackle Luke Joeckel of Texas A&M, defensive end Bjoern Werner of Florida State, linebacker Jarvis Jones of Georgia and cornerback Dee Milliner of national champion Alabama.


Also approved former LSU cornerback-kick returner Tyrann Mathieu, a 2011 All-American who was kicked off the Tigers before last season.


The NFL draft will be April 25-27 in New York.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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U.S. 'needs tougher child labor rules'




Cristina Traina says in his second term, Obama must address weaknesses in child farm labor standards




STORY HIGHLIGHTS


  • Cristina Traina: Obama should strengthen child farm labor standards

  • She says Labor Dept. rules allow kids to work long hours for little pay on commercial farms

  • She says Obama administration scrapped Labor Dept. chief's proposal for tightening rules

  • She says Labor Dept. must fix lax standards for kid labor on farmers; OSHA must enforce them




Editor's note: Cristina L.H. Traina is a Public Voices Op Ed fellow and professor at Northwestern University, where she is a scholar of social ethics.


(CNN) -- President Barack Obama should use the breathing space provided by the fiscal-cliff compromise to address some of the issues that he shelved during his last term. One of the most urgent is child farm labor. Perhaps the least protected, underpaid work force in American labor, children are often the go-to workers for farms looking to cut costs.


It's easy to see why. The Department of Labor permits farms to pay employees under 20 as little as $4.25 per hour. (By comparison, the federal minimum wage is $7.25.) And unlike their counterparts in retail and service, child farm laborers can legally work unlimited hours at any hour of day or night.


The numbers are hard to estimate, but between direct hiring, hiring through labor contractors, and off-the-books work beside parents or for cash, perhaps 400,000 children, some as young as 6, weed and harvest for commercial farms. A Human Rights Watch 2010 study shows that children laboring for hire on farms routinely work more than 10 hours per day.


As if this were not bad enough, few labor safety regulations apply. Children 14 and older can work long hours at all but the most dangerous farm jobs without their parents' consent, if they do not miss school. Children 12 and older can too, as long as their parents agree. Unlike teen retail and service workers, agricultural laborers 16 and older are permitted to operate hazardous machinery and to work even during school hours.


In addition, Human Rights Watch reports that child farm laborers are exposed to dangerous pesticides; have inadequate access to water and bathrooms; fall ill from heat stroke; suffer sexual harassment; experience repetitive-motion injuries; rarely receive protective equipment like gloves and boots; and usually earn less than the minimum wage. Sometimes they earn nothing.


Little is being done to guarantee their safety. In 2011 Secretary of Labor Hilda Solis proposed more stringent agricultural labor rules for children under 16, but Obama scrapped them just eight months later.


Adoption of the new rules would be no guarantee of enforcement, however. According to the 2010 Human Rights Watch report, the Department of Labor employees were spread so thin that, despite widespread reports of infractions they found only 36 child labor violations and two child hazardous order violations in agriculture nationwide.


This lack of oversight has dire, sometimes fatal, consequences. Last July, for instance, 15-year-old Curvin Kropf, an employee at a small family farm near Deer Grove, Illinois, died when he fell off the piece of heavy farm equipment he was operating, and it crushed him. According to the Bureau County Republican, he was the fifth child in fewer than two years to die at work on Sauk Valley farms.


If this year follows trends, Curvin will be only one of at least 100 children below the age of 18 killed on American farms, not to mention the 23,000 who will be injured badly enough to require hospital admission. According to Center for Disease Control and Prevention statistics, agriculture is one of the most dangerous industries. It is the most dangerous for children, accounting for about half of child worker deaths annually.


The United States has a long tradition of training children in the craft of farming on family farms. At least 500,000 children help to work their families' farms today.


Farm parents, their children, and the American Farm Bureau objected strenuously to the proposed new rules. Although children working on their parents' farms would specifically have been exempted from them, it was partly in response to worries about government interference in families and loss of opportunities for children to learn agricultural skills that the Obama administration shelved them.






Whatever you think of family farms, however, many child agricultural workers don't work for their parents or acquaintances. Despite exposure to all the hazards, these children never learn the craft of farming, nor do most of them have the legal right to the minimum wage. And until the economy stabilizes, the savings farms realize by hiring children makes it likely that even more of them will be subject to the dangers of farm work.


We have a responsibility for their safety. As one of the first acts of his new term, Obama should reopen the child agricultural labor proposal he shelved in spring of 2012. Surely, farm labor standards for children can be strengthened without killing off 4-H or Future Farmers of America.


Second, the Department of Labor must institute age, wage, hour and safety regulations that meet the standards set by retail and service industry rules. Children in agriculture should not be exposed to more risks, longer hours, and lower wages at younger ages than children in other jobs.


Finally, the Department of Labor and the Occupational Safety and Health Administration must allocate the funds necessary for meaningful enforcement of child labor violations. Unenforced rules won't protect the nearly million other children who work on farms.


Agriculture is a great American tradition. Let's make sure it's not one our children have to die for.


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.



The opinions expressed in this commentary are solely those of Cristina Traina.






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Peter Chernin wants to build the Marvel of India






NEW YORK (TheWrap.com) – Peter Chernin wants to the build the Marvel Comics of India. CA Media, the Asian investment arm of his Chernin Group, has acquired a large minority stake in Graphic India, an Indian comic book and animation company.


Graphic India, launched in 2012 as a subsidiary of Liquid Comics, is a prominent American comic book company founded by Richard Branson and Deepak Chopra, among others. CA Media and Liquid Comics will now jointly own the company, and Liquid will contribute a substantial comic book library of Indian characters to Graphic India.






CA Media will try to help Graphic India build franchises around those characters, from new print and digital comics to animated shorts.


“Following our successful entry into the traditional media space, we are very pleased that Graphic India marks our first investment in the digital space,” Rajesh Kamat, CEO of CA Media India, said in a statement. Graphic India is a valuable addition to this mix, especially in the youth segment. We look forward to working with the company to create heroes that inspire the next generation of Indian consumers.”


Sharad Devarajan, co-founder of Graphic India, will be CEO of the company and remain executive chairman of Liquid Comics. Under his leadership, the company will launch a series of new projects in the coming year. Graphic India has already partnered with former Marvel chief Stan Lee and POW! Entertainment to create Lee’s first superhero for the Indian market, Chakra the Invincible.


Chakra is born after teenager Raju Rai develops a technology-enhanced suit that unleashes the “mystical chakras of the body.” Lee will collaborate with Indian artists and creators to develop animated clips and comics.


Graphic India will also release new digital content around some of Liquid Comics’ existing properties, such as Shekhar Kapur’s “Devi,” Gotham Chopra’s “The Sadhu” and “Ramayan 3392AD.”


Movies News Headlines – Yahoo! News





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Wall Street little changed; Intel drags, Morgan Stanley up

NEW YORK (Reuters) - Stocks opened little changed on Friday, a day after the S&P 500 rose to its highest level in five years, as a weak outlook from Intel offset a fourth-quarter profit at Morgan Stanley.


Shares of Intel Corp slumped 6.1 percent to $21.30 after the tech company forecast quarterly revenue that was below analysts' estimates and hiked capital spending plans for the year.


That was offset somewhat by a 5-percent gain in shares of Morgan Stanley , which reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock jumped 5.3 percent to $22.84.


The earnings season so far has been mixed, but that could change with a barrage of releases scheduled for next week, said Doug Cote, chief market strategist, ING Investment Management in New York.


"There were some good reports but the real big bellwether companies are not coming in strong," said Cote.


The Dow Jones industrial average <.dji> edged up 8.02 points, or 0.06 percent, at 13,604.04. The Standard & Poor's 500 Index <.spx> slipped 1.20 points, or 0.08 percent, to 1,479.74. The Nasdaq Composite Index <.ixic> lost 7.52 points, or 0.24 percent, to 3,128.48.


Overall, S&P 500 company earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.


On Thursday, the S&P 500 rose to its highest since late 2007, and that could prompt investors to lock in recent gains, analysts said.


Economic data out of China provided some support to the market, though the focus remained on U.S. corporate earnings. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.


General Electric reported a better-than-expected rise in earnings on Friday, spurred by robust demand in China and oil-producing countries. Shares were up 2.4 percent to $21.82.


Despite the gains in Morgan Stanley, financial stocks sagged as Capital One Financial reported disappointing profit. Capital One slumped 7.4 percent to $57.06, while the KBW bank index <.bkx> slipped 0.4 percent.


Research In Motion climbed 4.7 percent to $15.61 after Jefferies Group boosted the BlackBerry maker's rating and price target.


(Editing by Bernadette Baum)



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Wall Street edges lower on earnings, China data






NEW YORK (Reuters) – Stocks fell modestly on Friday, a day after the S&P 500 rose to its highest level in five years, as a weak outlook from Intel was weighed against encouraging data out of China and a fourth-quarter profit at Morgan Stanley .


The Dow Jones industrial average <.dji> was down 6.68 points, or 0.05 percent, at 13,589.34. The Standard & Poor’s 500 Index <.spx> was down 2.60 points, or 0.18 percent, at 1,478.34. The Nasdaq Composite Index <.ixic> was down 10.63 points, or 0.34 percent, at 3,125.37.</.ixic></.spx></.dji>






(Reporting by Angela Moon; Editing by Bernadette Baum)


Business News Headlines – Yahoo! News





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Agencies approve new mortgage appraisal requirements






WASHINGTON (Reuters) – U.S. mortgage lenders making higher-priced loans to consumers must have properties appraised and provide borrowers a free copy of the report, under new rules released by six financial regulatory agencies on Friday.


The rule is part of an overhaul of mortgage market regulations, as U.S. officials try to prevent the types of industry abuses that contributed to millions of home foreclosures and helped spark the 2007-2009 U.S. financial crisis.






Lenders making loans with interest rates above a certain threshold, which do not meet the “qualified mortgage” definition set by regulators last week, will be required to have a certified appraiser visit the interior of the property, the regulators said.


In an effort to crack down on property flipping, regulators said creditors also must obtain a second appraisal if the difference between what the seller paid for the property and what the consumer will pay exceeds certain levels.


Six agencies approved the appraisal rules, which were called for by the 2010 Dodd-Frank financial oversight law and which will take effect in January 2014.


The Federal Deposit Insurance Corp, Consumer Financial Protection Bureau, Federal Reserve, Federal Housing Finance Agency, National Credit Union Administration and Office of the Comptroller of the Currency all signed off on the rules.


(Reporting By Emily Stephenson; Editing by Neil Stempleman)


Yahoo! Finance – Personal Finance | Loans





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