Obama to call for deal to avert 'fiscal cliff'

President Obama will today call upon Congress to work with him on preserving the lower tax rates first pushed by President Bush for those Americans who earn under $200,000 a year, but he will state his belief that voters were clear in re-electing him that they support a "balanced approach" to deficit reduction - meaning that the lower tax rates for higher wage earners should expire.

The president, aides tell ABC News, will argue that the tax cuts for the middle class are something everyone agrees on, so there's no reason for them to be linked to tax cuts for wealthier Americans, about which there's more disagreement. This will be the president "setting the table" for negotiations with Congress, one White House official told ABC News, just as House Speaker John Boehner, R-Ohio, did yesterday when he expressed his determination to stop any de facto tax increase on higher wage earners.

A report issued yesterday by the non-partisan Congressional Budget Office warned about the consequences to the U.S. economy if no deal was struck and the Bush tax cuts expired in addition to all the other issues related to the so-called "fiscal cliff" - including the expiration of a payroll tax cut, indexing the alternative minimum tax for inflation, continuing emergency unemployment benefits, and spending cuts forced on the budget because of the failure of the poorly-titled "Super-Committee" to come up with $1.2 trillion in deficit reduction.

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The CBO predicted that should no deal be struck, "real (inflation-adjusted) gross domestic product (GDP) will drop by 0.5 percent in 2013? causing "employment to decline and the unemployment rate to rise to 9.1 percent in the fourth quarter of 2013."

The president will note that the CBO report states that most of the impact of the tax cuts relates to those wage-earners who make less than $200,000 a year. Extending all the Bush-initiated lower rates would boost GDP by 1.4% and help create 1.8 million jobs, the CBO report states, while allowing their expiration for those higher wage earners while maintaining the lower rates for those making $200,000 a year and less would boost GDP by 1.3% and generate 1.6 million jobs. The .1% in GDP growth and 200,000-job difference is already being described by progressive pundits as "minimal."

White House officials insist that they're confident that a deal will be struck. One top Obama adviser, however, told ABC News that if the House GOP refuses to cut a deal with the president that includes some tax increases on the wealthy, the tax cuts will expire. One scenario the official discussed included the president barn-storming the country, telling the public that Democrats will put forward a bill to restore middle class tax cuts as soon as Congress convenes, and calling on them to pressure Republican congressional leaders to stop holding those tax cuts hostage in exchange for tax cuts for wealthier Americans.

-Jake Tapper

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Ghana building collapse traps dozens, kills 1

ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.

Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.

The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.

Other officials told The Associated Press that the death toll was likely to rise.

An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.

A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.

“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.

President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.

The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.

The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.

Africa News Headlines – Yahoo! News

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Exclusive: Google Ventures beefs up fund size to $300 million a year

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Rihanna a rock star on Victoria’s Secret catwalk

NEW YORK (AP) — Rihanna rocked lingerie at Wednesday night’s Victoria’s Secret fashion show in New York, providing the highlight of the live-music soundtrack and holding her own on the catwalk with some of the world’s top models.

And those models even had props, including Adriana Lima‘s ringmaster wand, Doutzen Kroes‘ body cage and several pairs of the oversized wings that the retailer has made its signature. It would be a close contest who got the biggest wings: Toni Garrn’s giant poppy pair or Miranda Kerr’s swan-style feathered pouf. Only Lily Aldridge could boast star-spangled wings that shot out silver sparkles.

Alessandra Ambrosio’s orchid-petal wings might have lacked a little grandeur, but she made up for it with a $ 2.5 million jeweled “floral fantasy bra.”

Still, wearing a sheer pink mini that gave glimpses of her bra, Rihanna sang “Fresh Out the Runway” at the end of the corset-and-garter parade and she was the one to grab the audience’s biggest applause.

The fashion show has become a pre-holiday season tradition for the retailer. CBS will turn it into a one-hour special, which also had performances from Justin Bieber and Bruno Mars, to be shown on Dec. 4.

Lima said she loved opening the show in the ringmaster costume. “The atmosphere of the Victoria’s Secret fashion show is electric,” she said. “It’s so much fun to be able to interact with the audience! What other show will you see Rihanna, Justin Beiber and Bruno Mars on the runway with angels?”

This year’s event had a slight twist. It started with an announcer noting that Victoria’s Secret and CBS had each made a donation to relief efforts for Superstorm Sandy, and a thank you to the National Guard members who are based out of the Lexington Avenue Armory that has for years been home to the show.

Mostly, though, models are encouraged to smile, ham it up and show off the extra time at the gym that most admit to in the weeks beforehand. “It’s highly televised, and you take that into consideration,” said model Joan Smalls ahead of the show. “This is kind of not the same as other runways. You have to prepare your body: No. 1 is the wings are heavy, and No. 2 is you have to be comfortable with your body because the camera will pick up on it if you’re not comfortable and confident.”

There’s an emphasis on glitz, skin and dramatic production here, not wearable undergarment trends for typical Victoria’s Secret shoppers. It was divided into six sections: Circus, complete with acrobats, contortionists and a sword eater; Dangerous Liaisons; Pink Is Us; Silver Screen Angels; Angels in Bloom; and Calendar Girls, which allowed Bruno Mars to serenade a model for each month of the year.

For his first song, “Beauty and the Beat,” Bieber, wearing low-slung white pants and a white leather studded vest, sat alone with his guitarist in the mellowest part of the show. For “As Long As You Love Me,” however, he brought in backup dancers and interacted with the models while moving around a giant makeshift pinball machine.

“It’s like a dream come true,” said Bieber on the pink carpet before the show. “I would rather be here than anywhere in the world.”

___

AP reporter John Carucci contributed to this report.

___

Samantha Critchell tweets fashion at http://www.twitter.com/AP_Fashion

Entertainment News Headlines – Yahoo! News

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Boston Scientific buys Vessix for blood pressure device

(Reuters) – Boston Scientific Corp said on Thursday it will acquire privately-held Vessix Vascular Inc, a developer of a catheter-based device that treats high blood pressure by deadening nerves near the kidneys.

Under the terms of the deal, expected to close at the end of November, Boston Scientific will make an upfront payment of $ 125 million, plus milestone payments of up to $ 400 million between 2013 and 2017. The deal is expected to be immaterial to adjusted earnings in 2013 and 2014, and break-even to profitable thereafter.

One in three adults in the United States has high blood pressure, according to the National Institutes of Health.

Health officials say more than one billion people in the world suffer from the ailment, also known as hypertension, which can lead to coronary heart disease, heart failure, stroke, kidney failure, and other health problems.

Normal blood pressure is below 120/80 mmHg (millimeters of mercury). Hypertension is a reading above 140/90 mmHg.

Despite widespread availability of drugs to treat the condition, blood pressure in many patients remains uncontrolled.

Renal denervation is a procedure in which a thin, flexible catheter is threaded through the body to the renal sympathetic nerves near the kidneys. Radiofrequency energy is delivered to disrupt the nerve activity, relieving high blood pressure.

Renal denervation is expected to be a multibillion dollar market by 2020, according to Boston Scientific, a maker of heart pacemakers, implantable defibrillators and heart stents.

The new therapy is not yet approved in the United States, but several products are available in Europe.

Device makers that have received approval to sell hypertension devices in Europe include frontrunner Medtronic Inc, St Jude Medical Inc, Covidien Plc, ReCor Medical and Vessix, which also has approval in Australia.

“We think the acquisition of Vessix is strategically important as it provides Boston Scientific an entrance point into the valuable renal denervation market and it does so with a product that we think has advantages that will likely make it a viable competitor,” said Wells Fargo analyst Larry Biegelsen, who characterized the market as overcrowded.

Boston Scientific shares were trading at $ 5.16 on the New York Stock Exchange, unchanged from Wednesday’s close.

(Reporting By Debra Sherman; Editing by Jeffrey Benkoe)

Medications/Drugs News Headlines – Yahoo! News

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New storm dumps snow, snuffs NE power

NEW YORK (AP) — The nor'easter that stymied recovery efforts from Superstorm Sandy pulled away from New York and New Jersey Thursday, leaving hundreds of thousands of new people in darkness after a blanket of thick, wet snow snapped storm-weakened trees and downed power lines.

From Brooklyn to storm-battered sections of the Jersey shore and Connecticut, about 750,000 customers — more than 200,000 from the new storm — in the region were without power in temperatures near freezing, some living for days in the dark.

"We lost power last week, just got it back for a day or two, and now we lost it again," said John Monticello of Point Pleasant Beach, N.J. "Every day it's the same now: turn on the gas burner for heat. Instant coffee. Use the iPad to find out what's going on in the rest of the world."

But most were just grateful the new storm didn't bring a fresh round of devastation.

"For a home without power, it's great. It came through the storm just great," said Iliay Bardash, 61, a computer programmer on Staten Island without electricity since last week. "But things are not worse, and for that I am thankful."

Nearby, Vladimir Repnin emerged from his powerless home with a snow shovel in his hand, a cigarette in his mouth and a question from someone cut off from the outside world.

"Who won? Obama?" he asked.

He didn't like the answer.

"The Democrats ruined my business," he said, referring to his shuttered clothing manufacturing firm.

Unlike other holdouts who got by with generators or gas stoves, the 63-year-old from the Ukraine has been without power since Sandy brought eight feet of water through his door and his neighbor's deck into his yard. He tried to beat the cold Wednesday night by sleeping with his Yorkie Kuzya and cat Channel.

"I had the dog right here," he said, pointing to his left side, "and the cat on my chest. It was still too cold, but I cannot leave my house."

Throughout Staten Island's beach area, the storm had blanketed growing piles of debris with several inches of snow. By mid-morning, it was starting to melt, filling the streets with filthy sludge.

Roads in New Jersey and New York City were clear for the morning commute, and rail lines into New York were running smoothly so far, despite snow still coming down heavily in some areas.

The nor'easter, as promised, brought gusting winds, rain and snow, but not the flooding that was anticipated.

"The good news, thank goodness, is except for maybe 2 inches of snow, there were no other problems," said Randi Savron, 51, a schoolteacher who lives in the Rockaways, one of the areas that flooded badly last week. The idyllic beachfront boardwalk was loosed from pilings and ended up outside her apartment building door.

She said it seemed like work would continue.

But additional outages could stall recovery efforts, even though utility companies had prepared, adding extra crews ahead of the nor'easter.

In New Jersey, there were about 400,000 power outages early Thursday; 150,000 of those were new. In New York City and Westchester, more than 70,000 customers were without power after the storm knocked out an additional 55,000 customers.

For Consolidated Edison, the extra outages were dealt with swiftly, so there were only about 3,000 additional customers without power from the total Wednesday of 67,000.

"I think we're going to be able to power through. Our objective was to get power restored to everyone by the weekend and we're still working with that goal," said Alfonso Quiroz, a spokesman for the utility.

On Long Island, an area badly battered, there were 125,000 new outages, but about 80,000 were restored, making a total of about 300,000 customers without power. Long Island Power Authority spokesman Mark Gross said the utility was assessing new damage while working to restore outages.

Paul Farash of West Babylon, N.Y. said he got power back after three days and didn't lose it again.

"Whatever I experienced was minimal compared to a whole lot of other people," he said. "I've seen some things. I've heard about some things. and I know some things. And I'm counting my blessings. I'll survive."

Anthony Gragnano, who lives in Lindenhurst, worried the new storm would further stall getting power returned to his flooded family home.

"It's just colder now," he said. "We still don't have heat or power, but aside from a little snow, we're good."

Under ordinary circumstances, a storm of this sort wouldn't be a big deal. But large swaths of the landscape were still an open wound, with the electrical system highly fragile and many of Sandy's victims still mucking out their homes and cars and shivering in the deepening cold. As the storm picked up in intensity Wednesday evening, lights started flickering off again.

Residents from Connecticut to Rhode Island saw 3 to 6 inches of snow on Wednesday. Worcester, Mass., had 8 inches of snow, and Freehold, N.J., had just over a foot overnight. Some parts of Connecticut got a foot or more.

There was good weather news: temperatures over the next few days will be in the 50s in southern New England, said meteorologist Frank Nocera, and on Sunday it could edge into the 60s.

Ahead of the storm, public works crews in New Jersey built up dunes to protect the stripped and battered coast, and new evacuations were ordered in a number of communities already emptied by Sandy. New shelters opened.

All construction in New York City was halted — a precaution that needed no explanation after a crane collapsed last week in Sandy's high winds and dangled menacingly over the streets of Manhattan. Parks were closed because of the danger of falling trees.

Airlines canceled at least 1,300 U.S. flights in and out of the New York metropolitan area, causing a new round of disruptions that rippled across the country.

Sandy killed more than 100 people in 10 states, with most of the victims in New York and New Jersey.

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Contributing to this report were Associated Press writers Kiley Armstrong, Jonathan Fahey, Tom Hays, David B. Caruso, Meghan Barr, Jennifer Peltz and Deepti Hajela in New York; Jim Fitzgerald in White Plains, N.Y.; and Angela Delli Santi and Wayne Perry in Harvey Cedars, N.J. Eltman reported from Garden City, N.Y.

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Canada firms to capitalize on nuclear trade with India

NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.

Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.

“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.

A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.

This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.

India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.

Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).

It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.

However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.

PROBABLY BEATING AUSTRALIA

Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.

Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.

“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.

Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.

“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”

Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.

“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.

He also said it should open up the market to service the existing reactors in India.

Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.

Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.

“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.

($ 1 = C$ 0.9965)

(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)

Canada News Headlines – Yahoo! News

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Move over, Obama; Twitter had a big night too

WASHINGTON (Reuters) - President Barack Obama called it - in less than 140 characters.

Around 11:15 pm EST, just as the networks were beginning to call the race in his favor, Obama took to Twitter to proclaim himself the winner over Republican candidate Mitt Romney.

"This happened because of you. Thank you," Obama tweeted.

That the president would take his message to Twitter before taking the stage in Chicago underscored the tremendous role social media platforms like Twitter played in the 2012 election.

Minutes later, with the race called in his favor, Obama tweeted again.

"We're all in this together. That's how we campaigned, and that's who we are. Thank you. -bo."

Through the course of a long and bitter presidential campaign, Twitter often served as the new first rough draft of history.

Top campaign aides used the Internet tool to snipe at each other, the candidates used it to get out their messages and political reporters used it to inform and entertain.

On Election Night, the tweets were flowing.

By 10 p.m. EST, with the race still up for grabs, Twitter announced it had broken records.

There were more than 31 million election-related tweets on Tuesday night, making Election Night "the most tweeted about event in U.S. political history," said Twitter spokeswoman Rachael Horwitz. Between 6 p.m. and midnight EST, there were more than 23 million tweets.

Horwitz noted the previous record was 10 million, during the first presidential debate on October 3.

"Twitter brought people closer to almost every aspect of the election this year," Horwitz said. "From breaking news, to sharing the experience of watching the debates, to interacting directly with the candidates, Twitter became a kind of nationwide caucus."

In the moments following Obama's win, Twitter was in a frenzy, with a peak of 327,000 tweets a minute.

Another tweet from Obama, one that read: "Four more years" and showed a picture of him hugging his wife, became the most retweeted tweet in the history of the site.

'FIRST TWITTER ELECTION'

Love it or hate it, Twitter and its role in politics appears to be here to stay.

For Rob Johnson, campaign manager for Texas Republican Governor Rick Perry's failed presidential run, Twitter "changed the dynamic this cycle and will continue to play a bigger role in years to come."

"We no longer click refresh on websites or wait for the paper boy to throw the news on our porch," Johnson said. "We go to Twitter and learn the facts before others read it."

The 2012 race was the first where Twitter played such an important role. Top campaign advisers like Romney's Eric Fehrnstrom and Obama's David Axelrod engaged in Twitter battles through the year.

With many political reporters and campaign staff on Twitter and Facebook, social media websites were often the first place news broke. Some top news stories were kept alive or thrust into the headlines after becoming hot topics on Twitter.

"It was one heckuva echo chamber," Dante Scala, a political science professor at the University of New Hampshire, said in an email.

Johnson said Twitter was the driving force behind some of the year's biggest political news stories.

"The twitterverse shapes the news and public opinion," Johnson said. "The Internet is truly a real and powerful tool in politics."

In future elections, candidates and their campaign staffs will have to include social media as another battleground, Democratic strategist Jamal Simmons said.

"This was the first Twitter election and social media is now fully a part of our election mechanics," Simmons said. "Going forward candidates must have an aggressive social media strategy if they want to win."

(Editing by Mary Milliken and Peter Cooney)

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MTV Launches Fundraiser for “Jersey Shore” Site Ravaged by Sandy

LOS ANGELES (TheWrap.com) – “Jersey Shore” might be wrapping up its run, but the spirit of goodwill and humanity that the MTV reality hit has inspired will carry on.

MTV will air a one-hour fundraising special to help out Seaside Heights, N.J., the site where Snooki and her fellow orange-hued revelers played out most of their televised shenanigans, and was ravaged by Hurricane Sandy last week.

The one-hour special, “Restore the Shore,” will air live on November 15 at 11 p.m., with a tape delay for the west coast.

The special, which will also run in online and mobile formats, will feature the “Jersey Shore” cast as well as other special guests, and air from MTV’s Times Square studio in New York.

MTV is partnering with nonprofit organization Architecture for Humanity for the fundraising effort, with efforts primarily focused on rebuilding the Seaside Heights boardwalk, with additional assistance going to re-building efforts for businesses and residents in the community.

TV News Headlines – Yahoo! News

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Researchers Link High Blood Pressure to Brain Aging

California scientists have reported structural changes in the brains of adult patients who are relatively young and who also suffer from hypertension. Their findings directly link high blood pressure to brain aging.

The project, led by University of California Davis researchers, is the first to demonstrate this relationship in people just entering middle age, according to Medical News Today (MNT). Prior studies followed older patients.

Hypertension — high blood pressure — occurs when the force of a person’s blood against artery walls is high enough to cause medical problems, the Mayo Clinic says. A majority of patients have no symptoms. Among the complications are heart attacks, strokes, aneurysms, heart failure, issues with blood vessels in the kidneys and eyes, cognitive problems, and metabolic syndrome.

A normal blood pressure reading is 120/80. Pre-hypertension readings range from 120 to 139/80 to 89. Readings higher than 140/90 are considered high blood pressure.

Earlier studies demonstrated a relationship between high blood pressure and an elevated risk of brain injury, atrophy leading to brain processing problems, and dementia. The California researchers concluded that treating high blood pressure during middle age — years before most people think much about it — can help prevent cognitive problems later.

The scientists followed 579 subjects in the Framingham Heart Study. Most were in their late 30s when they joined the study in 2009.

Subjects were placed into one of three groups: normal blood pressure, pre-hypertensive, or high blood pressure. The researchers noted whether each was a smoker or took medication for blood pressure. Subjects then underwent MRIs of their brains, including measurements of any injury to white or gray matter.

According to the National Institute of Mental Health, gray matter is comprised of cell bodies of neurons that talk to each other. White matter, says MNT, makes up the brain’s axons, long strands that transport electrical signals. Various imaging studies allowed the researchers to compare brains of the three blood pressure groups.

Among subjects with high blood pressure, brains were significantly less healthy and looked older than those of patients with normal blood pressure. In fact, the brain of a 33-year-old subject in the first group resembled that of a typical 40-year-old in the normal group. Subjects with high blood pressure on average had nine percent less gray matter in their frontal and temporal lobes than patients in the normal group.

I was shocked to discover in my late 30s that I had high blood pressure. During an appointment with a new gynecologist, my readings soared to 154/97 even though I had no symptoms. He immediately sent me across the street to see an internist. This fortunate intervention led to the need to monitor my numbers daily and permanent medication. Beyond protecting me from the most common complications of hypertension, it might well have prevented premature aging of my brain.

Vonda J. Sines has published thousands of print and online health and medical articles. She specializes in diseases and other conditions that affect the quality of life.

Health News Headlines – Yahoo! News

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