Sunday, March 31, 2013

Phil Ramone, Grammy-winning producer, dead at 72

NEW YORK (AP) ? Phil Ramone, the masterful Grammy Award-winning engineer, arranger and producer whose platinum touch included recordings with Ray Charles, Billy Joel and Paul Simon, has died at 72, his family said Saturday.

Ramone's son, Matt Ramone, confirmed the death. The family did not immediately release details of the death, but Matt Ramone says his father was "very loving and will be missed."

Few in the recording industry enjoyed a more spectacular and diverse career. Ramone won 14 competitive Grammy Awards and one for lifetime achievement. Worldwide sales for his projects topped 100 million. He was at ease with rock, jazz, swing and pop, working with Frank Sinatra and Aretha Franklin, Stevie Wonder and Paul McCartney, Elton John and Tony Bennett, Madonna and Lou Reed.

Ramone was on hand for such classic albums as The Band's "The Band" and Bob Dylan's "Blood On the Tracks." He produced three records that went on to win Grammys for album of the year ? Simon's "Still Crazy After All These Years," Joel's "52nd Street" and Charles' "Genius Loves Company."

"I always thought of Phil Ramone as the most talented guy in my band," Joel said in a statement. "So much of my music was shaped by him and brought to fruition by him. I have lost a dear friend ? and my greatest mentor."

Ramone also was a pioneer of digital recording who produced what is regarded as the first major commercial release on compact disc, "52nd Street," which came out on CD in 1982. He was even part of political history, advising presidential administrations on how to properly record a news conference and helping to arrange the storied 1962 party for John F. Kennedy at Madison Square Garden that featured Marilyn Monroe crooning "Happy Birthday."

He thrived whether producing music for the stereo, television, film or the stage. He won an Emmy for a TV special about Duke Ellington, a Grammy for the soundtrack to the Broadway musical "Promises, Promises" and a Grammy for the soundtrack to "Flashdance."

He had uncanny instincts and made an art out of the "Duets" concept, pairing Sinatra with Bono, Luther Vandross and other younger artists, Bennett with McCartney and Barbra Streisand, and Charles with Bonnie Raitt and Van Morrison. In Ramone's memoir, "Making Records," he recalled persuading a hesitant Sinatra to re-record some of his signature songs.

"I reminded Frank that while Laurence Olivier had performed Shakespeare in his 20s, the readings he did when he was in his 60s gave them new meaning," Ramone wrote. "I spoke with conviction. 'Don't my children ? and your grandchildren ? deserve to hear the way you're interpreting your classic songs now?'"

A request from Sinatra led to another Ramone innovation: Singers performing simultaneously from separate studios.

A native of South Africa, he seemed born to make music. He had learned violin by age 3 and was trained at The Juilliard School in New York. Before age 20, he had opened his own recording studio, A&R Recording, where he served as engineer for such visiting artists as Count Basie and Sarah Vaughan. He had known Quincy Jones since he was a teenager and in his 20s became close to Streisand. By the end of the 1960s, he had worked on "Midnight Cowboy" and other movie soundtracks and would credit composer John Barry with helping him become a producer.

His credits as a producer, engineer and arranger make it hard to believe they belong to just one person: Joel's "The Stranger," Simon's "There Goes Rhymin' Simon," concert albums by Dylan and the Rolling Stones, such popular singles as Arlo Guthrie's "Alice's Restaurant," Streisand's "Evergreen," Lesley Gore's "It's My Party," Judy Collins' "Send in the Clowns" and Stan Getz's and Astrud Gilberto's "The Girl from Ipanema."

The bearded, self-effacing Ramone was among the most famous and welcome faces within the business, yet he could walk down virtually any street unnoticed. He was not a high-strung visionary in the tradition of Phil Spector, but rather a highly accomplished craftsman and diplomat who prided himself on his low-key style, on being an "objective filter" for the artist, on not being "a screamer."

"The record producer is the music world's equivalent of a film director," he wrote in his memoir. "But, unlike a director (who is visible, and often a celebrity in his own right), the record producer toils in anonymity. We ply our craft deep into the night, behind locked doors."

Ramone's friendly style was especially welcomed by Joel. The singer-songwriter was already a popular artist in the mid-1970s, but he felt he lacked a sympathetic producer, one who appreciated Joel's bandmates as much as Joel. Ramone joined on for what became one of Joel's biggest successes, "The Stranger," released in 1977. As Joel explained at the time, Ramone fit right in with the musicians and encouraged everyone to relax and play more like they did on stage, like "rock and roll animals."

"We did songs in five takes instead of 15 or 20," Joel said. "He was one of the guys. We'd throw around ideas, kick the songs around, try them different ways and get them right. Sometimes we'd throw pizza at each other."

In a statement Saturday, Bennett said it was a joy to work with Ramone.

"Phil Ramone was a lovely person and a very gifted musician and producer," Bennett said. "He had a wonderful sense of humor and a deep love of music."

Ramone's many industry honors were returned in kind. He was chairman emeritus of the board of trustees of the National Academy of Recording Arts and Sciences (NARAS) and produced Grammy tributes for James Taylor, Brian Wilson and other artists. He was an advocate for musical education and a trustee for the National Recording Preservation Board of the Library of Congress.

His recent recordings included albums with Bennett, Simon, George Michael and Dionne Warwick.

"I still make records on the basis that three or four players and a singer, and the song, come together right there," he said recently for an interview on CBS.com. "It's a really strong way to work. I'm ready to work, musicians are ready to play. There's a feeling."

Source: http://news.yahoo.com/phil-ramone-grammy-winning-producer-dead-72-171128987.html

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93% Lore

All Critics (87) | Top Critics (23) | Fresh (81) | Rotten (6)

It's a harrowing walk through the heart of darkness.

Saskia Rosendahl gives an impressively poised performance as the beautiful teenager, whose determination to protect her remaining family coincides with her growing revulsion toward her parents.

"Lore" is not a pretty story, but it is a good and sadly believable one.

"Lore" is not a love story, nor the story of a friendship. Rather, it's a story of healing and of how breaking, sometimes painfully, is often necessary before that process can begin.

A fiercely poetic portrait of a young woman staggering beyond innocence and denial, it's about the wars that rage within after the wars outside are lost.

Full of surprises, the movie draws a thin line between pity and revulsion - how would you feel if you had discovered your whole life had been based on lies?

Texture and detail embellish a provocative story

Child of Nazi parents faces an uncertain future

[Director Cate] Shortland directs with an almost hypnotic focus, favoring Lore's immediate experience over the big picture.

Rosendahl's performance is raw and compelling, as Lore fights for her siblings' survival and grows up in a hurry.

Lore and her siblings make a harrowing journey across Germany

Worthwhile, but so subtle that it's frustrating.

The Australian-German co-production takes an unconventional tale and turns it into a challenging, visually stunning and emotionally turbulent film experience.

Over the river and through the woods, to Grandmother's house we go. Except this ain't no fairy tale... unless it is, perhaps, a hint of the beginnings of a new mythology of ... scary childhood and even scarier adolescence...

With a child's perspective on war, "Lore" deserves comparisons with "Empire of the Sun" and "Hope and Glory," and with a feisty female protagonist it stands virtually alone.

Rosendahl...provides both narrative and emotional continuity to a film whose deliberate pace and fragmented presentation of reality might otherwise prove exasperating.

A burning portrait of consciousness and endurance, gracefully acted and strikingly realized, producing an honest sense of emotional disruption, while concluding on a powerful note of cultural and familial rejection.

Although there are moments that push the story a bit beyond credulity, Shortland has created something remarkable by forcing us to find within ourselves sympathy for this would-be Aryan princess.

Stunning, admirable and indelible - truthfully chronicling the triumph of the human spirit - in a class with Michael Haneke's 'The White Ribbon.'

Can we spare some sympathy or hope for the children of villains, even if they too show signs of their parents' evil? Lore provides no easy answers.

The portrait is miniature and yet indelible, a ghostly reminder of the 20th century.

No quotes approved yet for Lore. Logged in users can submit quotes.

Source: http://www.rottentomatoes.com/m/lore/

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Obama attends Syracuse-Marquette basketball game

WASHINGTON (AP) ? President Barack Obama attended one of the weekend's big college basketball games after playing a round of golf Saturday.

Obama's motorcade took him directly from a golf course at Andrews Air Force Base in suburban Maryland to Washington's Verizon Center to watch Syracuse and Marquette play for a berth in the Final Four of the NCAA basketball tournament. He left shortly before the end of the game, which Syracuse won 55-39.

With less than 11 minutes remaining in the first half of the East Regional final, Obama appeared on the Jumbotron suspended above the Verizon Center court. He sat with Reggie Love, his former personal aide at the White House and a member of the Duke team that won the NCAA championship in 2001. At least one other friend, Marty Nesbitt, also sat with the president. Also joining Obama was NCAA President Mark Emmert.

The audience responded with loud applause when Obama was shown on the huge screen, and he smiled and waved.

In the men's tournament, Obama picked Indiana and Louisville to meet in the championship game in Atlanta, with Indiana claiming the title. But it's not meant to be ? Indiana was defeated by Syracuse. Louisville is scheduled to play Duke on Sunday in Indianapolis.

Obama said earlier this week that "my women's (NCAA tournament) bracket is doing much better than my men's bracket."

Earlier Saturday, Obama played golf for the first time since automatic spending cuts known as the sequester went into effect on March 1.

Some conservatives have called on Obama to give up golf since popular public tours of the White House have been canceled because of the budget cuts. The White House has said the tours were canceled to keep Secret Service agents from being furloughed because of the spending reductions.

Obama played golf with Nesbitt and two White House aides.

___

Follow Darlene Superville on Twitter: http://www.twitter.com/dsuperville

Source: http://news.yahoo.com/obama-attends-syracuse-marquette-basketball-game-214139628--politics.html

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Saturday, March 30, 2013

Business, labor close on deal for immigration bill

WASHINGTON (AP) ? Prospects for a Senate deal on an ambitious rewrite of the nation's immigration laws improved markedly as business and labor appeared ready to set aside their differences over a new low-skilled worker program holding up the agreement.

The AFL-CIO and U.S. Chamber of Commerce had been fighting over wages for tens of thousands of low-skilled workers who would be brought in under the new program to fill jobs in construction, hotels and resorts, nursing homes and restaurants, and other industries. But on Friday, officials from both sides said there was basic agreement on the wage issue, and Sen. Chuck Schumer, D-N.Y., said a final deal on the low-wage worker dispute was very close.

That likely would clear the way for Schumer and seven other senators in a bipartisan group to unveil legislation the week of April 8 to overhaul the U.S. immigration system, strengthening the border, cracking down on employers, allowing in tens of thousands of new high- and low-skilled workers and providing a path to citizenship for the estimated 11 million illegal immigrants already in the country.

"We're feeling very optimistic on immigration: Aspiring Americans will receive the road map to citizenship they deserve and we can modernize 'future flow' without reducing wages for any local workers, regardless of what papers they carry," AFL-CIO spokesman Jeff Hauser said in a statement. "Future flow" refers to future arrivals of legal immigrants.

Under the emerging agreement between business and labor, a new "W'' visa program would bring tens of thousands of lower-skilled workers a year to the country. The program would be capped at 200,000 a year, but the number of visas would fluctuate, depending on unemployment rates, job openings, employer demand and data collected by a new federal bureau pushed by the labor movement as an objective monitor of the market.

The workers would be able to change jobs and could seek permanent residency. Under current temporary worker programs, personnel can't move from employer to employer and have no path to permanent U.S. residence and citizenship. And currently there's no good way for employers to bring many low-skilled workers to the U.S. An existing visa program for low-wage nonagricultural workers is capped at 66,000 per year and is supposed to apply only to seasonal or temporary jobs.

The Chamber of Commerce said workers would earn actual wages paid to American workers or the prevailing wages for the industry they're working in, whichever is higher. The Labor Department determines prevailing wage based on customary rates in specific localities, so that it varies from city to city.

There was also disagreement about how to deal with certain higher-skilled construction jobs, such as electricians and welders, and it appears those will be excluded from the deal, said Geoff Burr, vice president of federal affairs at Associated Builders and Contractors. Burr said his group opposes such an exclusion because, even though unemployment in the construction industry is high right now, at times when it is low there can be labor shortages in high-skilled trades, and contractors want to be able to bring in foreign workers. But unions pressed for the exclusion, Burr said.

The low-skilled worker issue had loomed for weeks as perhaps the toughest matter to settle in monthslong closed-door talks on immigration among the senators, including Republicans John McCain of Arizona and Marco Rubio of Florida. The issue helped sink the last major attempt at immigration overhaul in 2007, when the legislation foundered on the Senate floor after an amendment was added to end a temporary worker program after five years, threatening a key priority of the business community.

The amendment passed by just one vote, 49-48. President Barack Obama, a senator at the time, joined in the narrow majority voting to end the program after five years.

___

Follow Erica Werner on Twitter: https://twitter.com/ericawerner

Source: http://news.yahoo.com/business-labor-close-deal-immigration-bill-185315130.html

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Facebook Phone: Maybe, Possibly for Real This Time (Sort Of)

By Martyn Herman LONDON, March 28 (Reuters) - Whether by design, necessity, self-interest or because of all three, nurturing youngsters has become fashionable for England's elite with no expense spared in the hunt for the new Wayne Rooney or Steven Gerrard. The length and breadth of the country, scouts from top clubs are hoovering up promising footballers barely old enough to tie their bootlaces in a bid to unearth the 30 million pounds ($45.40 million) treasures of the future. ...

Source: http://news.yahoo.com/facebook-phone-maybe-possibly-real-time-sort-133608088--finance.html

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Andrei Arlovski?s camp says timing error in New Jersey caused him to take ?huge blow? late

Just days after Nick Diaz's camp criticized the athletic commission in Quebec for their handling of his UFC 158 weigh-in with UFC welterweight champ Georges St-Pierre, another athletic commission is under fire. Jackson's MMA, the gym who backs Andrei Arlovski, said a timing error by the New Jersey State Athletic Control Board resulted in Arlovski's broken jaw.

Arlovski lost to Anthony Johnson in a World Series of Fighting bout on Saturday. Jackson's MMA posted on their Facebook about the timekeeping problem:

The NJ athletic commission was worried about the World Series of Fighting getting a new canvas and new corner pads for the cage they almost canceled the fight Saturday night. Unfortunately they forgot to get a time keeper that was trained properly. 1st round 5min 8 sec in the Andrei fight. A devastating blow was landed after the 5min mark. It's amazing how so much time is spent with over regulating but the simple things can cost dearly.

WSOF had to bring in a new canvas and pads when the ones they originally had were unsuitable. But the timing error is much worse. Check out this video via MMA Fighting, and listen to the wood clacking at the 10-second mark. The clock disappears from the screen at seven seconds. Even a generous countdown shows the fight went past the five-minute mark.

The worst part is that the damage Johnson caused came after the time should have expired. His jaw was broken, and it needed surgery for repair. It also raises questions on if the fight result would have been different if Arlovski wouldn't have been hurt late in the first round.

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Source: http://sports.yahoo.com/blogs/mma-cagewriter/andrei-arlovski-camp-says-timing-error-jersey-caused-144726034--mma.html

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Friday, March 29, 2013

Sensory helmet could mean firefighters are not left in the dark

Sensory helmet could mean firefighters are not left in the dark [ Back to EurekAlert! ] Public release date: 29-Mar-2013
[ | E-mail | Share Share ]

Contact: Beck Lockwood
beck@campuspr.co.uk
University of Sheffield

A specially-adapted 'tactile helmet', developed by researchers at the University of Sheffield, could provide fire-fighters operating in challenging conditions with vital clues about their surroundings.

The helmet is fitted with a number of ultrasound sensors that are used to detect the distances between the helmet and nearby walls or other obstacles. These signals are transmitted to vibration pads that are attached to the inside of the helmet, touching the wearer's forehead. Rescue workers, such as fire-fighters, who might be working in dark conditions or in buildings filled with smoke, will be able to use the signals to find walls and other obstacles that could help guide them through unfamiliar environments.

It is anticipated that a lightweight version of the technology could also be useful to people with visual impairments, acting as an additional 'sense' to guide users or to help them avoid hazards.

Invented by a team of researchers at the Sheffield Centre for Robotics (SCentRo), the helmet was inspired by research into tactile sensing in rodents, whose whiskers give early warning of potential hazards.

Professor Tony Prescott of the University of Sheffield and director of SCentRo, said: "When a firefighter is responding to an emergency situation he will be using his eyes and ears to make sense of his environment, trying to make out objects in a smoke filled room, for example, or straining to hear sounds from people who might need rescuing. We found that in these circumstances it was difficult to process additional information through these senses. Using the sense of touch, however, we were able to deliver additional information effectively."

The team also found that the helmet was the ideal place to locate the vibrating pads because, although the fingertips might seem a more obvious choice, stimuli delivered to the wearer's forehead enabled them to respond more rapidly to the signals, and would also leave their hands free for other tasks.

The prototype helmet was developed using a Rosenbauer helmet donated by Northfire Ltd and was produced following a two-year research project, funded by the Engineering and Physical Sciences Research Council. South Yorkshire Fire and Rescue Service have also assisted, providing advice during the development period as well as access to their training facility. The next step is to find a commercial partner interested in further developing the helmet.

The helmet will be on show at this year's Gadget Show Live, to be held at the NEC in Birmingham from 3-7 April 2013. For more information go to: http://www.gadgetshowlive.net/.

###

Notes for Editors:

1. The Faculty of Engineering at the University of Sheffield - the 2011 Times Higher Education's University of the Year - is one of the largest in the UK. Its seven departments include over 4,000 students and 900 staff and have research-related income worth more than 50M per annum from government, industry and charity sources. The 2008 Research Assessment Exercise (RAE) confirmed that two thirds of the research carried out was either Internationally Excellent or Internationally Leading.

The Faculty of Engineering has a long tradition of working with industry including Rolls-Royce, Network Rail and Siemens. Its industrial successes are exemplified by the award-winning Advanced Manufacturing Research Centre (AMRC) and the new 25 million Nuclear Advanced Manufacturing Research Centre (NAMRC).

The Faculty of Engineering is set to ensure students continue to benefit from world-class labs and teaching space through the provision of the University's new Engineering Graduate School. This brand new building, which will become the centre of the faculty's postgraduate research and postgraduate teaching activities, will be sited on the corner of Broad Lane and Newcastle Street. It will form the first stage in a 15 year plan to improve and extend the existing estate in a bid to provide students with the best possible facilities while improving their student experience

To find out more about the Faculty of Engineering, visit: http://www.shef.ac.uk/faculty/engineering/.

3. The Engineering and Physical Sciences Research Council (EPSRC) is the UK's main agency for funding research in engineering and physical sciences. EPSRC invests around 800m a year in research and postgraduate training, to help the nation handle the next generation of technological change.

The areas covered range from information technology to structural engineering, and mathematics to materials science. This research forms the basis for future economic development in the UK and improvements for everyone's health, lifestyle and culture. EPSRC works alongside other Research Councils with responsibility for other areas of research. The Research Councils work collectively on issues of common concern via research Councils UK.


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


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


Sensory helmet could mean firefighters are not left in the dark [ Back to EurekAlert! ] Public release date: 29-Mar-2013
[ | E-mail | Share Share ]

Contact: Beck Lockwood
beck@campuspr.co.uk
University of Sheffield

A specially-adapted 'tactile helmet', developed by researchers at the University of Sheffield, could provide fire-fighters operating in challenging conditions with vital clues about their surroundings.

The helmet is fitted with a number of ultrasound sensors that are used to detect the distances between the helmet and nearby walls or other obstacles. These signals are transmitted to vibration pads that are attached to the inside of the helmet, touching the wearer's forehead. Rescue workers, such as fire-fighters, who might be working in dark conditions or in buildings filled with smoke, will be able to use the signals to find walls and other obstacles that could help guide them through unfamiliar environments.

It is anticipated that a lightweight version of the technology could also be useful to people with visual impairments, acting as an additional 'sense' to guide users or to help them avoid hazards.

Invented by a team of researchers at the Sheffield Centre for Robotics (SCentRo), the helmet was inspired by research into tactile sensing in rodents, whose whiskers give early warning of potential hazards.

Professor Tony Prescott of the University of Sheffield and director of SCentRo, said: "When a firefighter is responding to an emergency situation he will be using his eyes and ears to make sense of his environment, trying to make out objects in a smoke filled room, for example, or straining to hear sounds from people who might need rescuing. We found that in these circumstances it was difficult to process additional information through these senses. Using the sense of touch, however, we were able to deliver additional information effectively."

The team also found that the helmet was the ideal place to locate the vibrating pads because, although the fingertips might seem a more obvious choice, stimuli delivered to the wearer's forehead enabled them to respond more rapidly to the signals, and would also leave their hands free for other tasks.

The prototype helmet was developed using a Rosenbauer helmet donated by Northfire Ltd and was produced following a two-year research project, funded by the Engineering and Physical Sciences Research Council. South Yorkshire Fire and Rescue Service have also assisted, providing advice during the development period as well as access to their training facility. The next step is to find a commercial partner interested in further developing the helmet.

The helmet will be on show at this year's Gadget Show Live, to be held at the NEC in Birmingham from 3-7 April 2013. For more information go to: http://www.gadgetshowlive.net/.

###

Notes for Editors:

1. The Faculty of Engineering at the University of Sheffield - the 2011 Times Higher Education's University of the Year - is one of the largest in the UK. Its seven departments include over 4,000 students and 900 staff and have research-related income worth more than 50M per annum from government, industry and charity sources. The 2008 Research Assessment Exercise (RAE) confirmed that two thirds of the research carried out was either Internationally Excellent or Internationally Leading.

The Faculty of Engineering has a long tradition of working with industry including Rolls-Royce, Network Rail and Siemens. Its industrial successes are exemplified by the award-winning Advanced Manufacturing Research Centre (AMRC) and the new 25 million Nuclear Advanced Manufacturing Research Centre (NAMRC).

The Faculty of Engineering is set to ensure students continue to benefit from world-class labs and teaching space through the provision of the University's new Engineering Graduate School. This brand new building, which will become the centre of the faculty's postgraduate research and postgraduate teaching activities, will be sited on the corner of Broad Lane and Newcastle Street. It will form the first stage in a 15 year plan to improve and extend the existing estate in a bid to provide students with the best possible facilities while improving their student experience

To find out more about the Faculty of Engineering, visit: http://www.shef.ac.uk/faculty/engineering/.

3. The Engineering and Physical Sciences Research Council (EPSRC) is the UK's main agency for funding research in engineering and physical sciences. EPSRC invests around 800m a year in research and postgraduate training, to help the nation handle the next generation of technological change.

The areas covered range from information technology to structural engineering, and mathematics to materials science. This research forms the basis for future economic development in the UK and improvements for everyone's health, lifestyle and culture. EPSRC works alongside other Research Councils with responsibility for other areas of research. The Research Councils work collectively on issues of common concern via research Councils UK.


[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?


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


Source: http://www.eurekalert.org/pub_releases/2013-03/uos-shc032913.php

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Big depositors in Cyprus to lose far more than feared

By Michele Kambas

NICOSIA (Reuters) - Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back.

The toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.

Officials had previously spoken of a loss to big depositors of 30 to 40 percent.

Cypriot President Nicos Anastasiades on Friday defended the 10-billion euro ($13 billion) bailout deal agreed with the EU five days ago, saying it had contained the risk of national bankruptcy.

"We have no intention of leaving the euro," the conservative leader told a conference of civil servants in the capital, Nicosia.

"In no way will we experiment with the future of our country," he said.

Cypriots, however, are angry at the price attached to the rescue - the winding down of the island's second-largest bank, Cyprus Popular Bank, also known as Laiki, and an unprecedented raid on deposits over 100,000 euros.

Under the terms of the deal, the assets of Laiki bank will be transferred to Bank of Cyprus.

At Bank of Cyprus, about 22.5 percent of deposits over 100,000 euros will attract no interest, the source said. The remaining 40 percent will continue to attract interest, but will not be repaid unless the bank does well.

Those with deposits under 100,000 euros will continue to be protected under the state's deposit guarantee.

Cyprus's difficulties have sent jitters around the fragile single European currency zone, and led to the imposition of capital controls in Cyprus to prevent a run on banks by worried Cypriots and wealthy foreign depositors.

"CYPRUS EURO"

Banks reopened on Thursday after an almost two-week shutdown as Cyprus negotiated the rescue package. In the end, the reopening was largely quiet, with Cypriots queuing calmly for the 300 euros they were permitted to withdraw daily.

The imposition of capital controls has led economists to warn that a second-class "Cyprus euro" could emerge, with funds trapped on the island less valuable than euros that can be freely spent abroad.

Anastasiades said the restrictions on transactions - unprecedented in the currency bloc since euro coins and banknotes entered circulation in 2002 - would be gradually lifted. He gave no time frame but the central bank said the measures would be reviewed daily.

He hit out at banking authorities in Cyprus and Europe for pouring money into the crippled Laiki.

"How serious were those authorities that permitted the financing of a bankrupt bank to the highest possible amount?" Anastasiades said.

The president, barely a month in the job and wrestling with Cyprus's worst crisis since a 1974 war split the island in two, accused the 17-nation euro currency bloc of making "unprecedented demands that forced Cyprus to become an experiment".

European leaders have insisted the raid on big bank deposits in Cyprus is a one-off in their handling of a debt crisis that refuses to be contained.

MODEL

But policymakers are divided, and the waters were muddied a day after the deal was inked when the Dutch chair of the euro zone's finance ministers, Jeroen Dijsselbloem, said it could serve as a model for future crises.

Faced with a market backlash, Dijsselbloem rowed back. But on Friday, European Central Bank Governing Council member Klaas Knot, a fellow Dutchman, said there was "little wrong" with his assessment.

"The content of his remarks comes down to an approach which has been on the table for a longer time in Europe," Knot was quoted as saying by Dutch daily Het Financieele Dagblad. "This approach will be part of the European liquidation policy."

The Cyprus rescue differs from those in other euro zone countries because bank depositors have had to take losses, although an initial plan to hit small deposits as well as big ones was abandoned and accounts under 100,000 euros were spared.

Warnings of a stampede at Cypriot banks when they reopened on Thursday proved unfounded.

For almost two weeks, Cypriots were on a ration of limited withdrawals from bank cash machines. Even with banks now open, they face a regime of strict restrictions designed to halt a flight of capital from the island.

Some economists say those restrictions will be difficult to lift. Anastasiades said the capital controls would be "gradually eased until we can return to normal".

The government initially said the controls would stay in place for seven days, but Foreign Minister Ioannis Kasoulides said on Thursday they could last "about a month".

On Friday, easing a ban on cheque payments, Cypriot authorities said cheques could be used to make payments to government agencies up to a limit of 5,000 euros. Anything more than 5,000 euros would require Central Bank approval.

The bank also issued a directive limiting the cash that can be taken to areas of the island beyond the "control of the Cypriot authorities" - a reference to Turkish-controlled northern Cyprus which considers itself an independent state. Cyprus residents can take 300 euros; non-residents can take 500.

Under the terms of the capital controls, Cypriots and foreigners are allowed to take up to 1,000 euros in cash when they leave the island.

(Additional reporting by Ivana Sekularac and Gilbert Kreijger in Amsterdam; Writing by Matt Robinson; Editing by Giles Elgood)

Source: http://news.yahoo.com/cyprus-no-intention-leaving-euro-president-095234615--business.html

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U.S. flies stealth bombers over South Korea in warning to North

By David Chance

SEOUL (Reuters) - The United States flew two nuclear-capable stealth bombers on practice runs over South Korea on Thursday, in a rare show of force following a series of North Korean threats that the Pentagon said have set Pyongyang on a dangerous path.

The drill by the two B-2 Spirit bombers - flying all the way from the United States and back - appeared to be the first exercise of its kind and showed America's ability to conduct long-range, precision strikes "quickly and at will," the U.S. military said.

The bomber flights, and the unusual public announcement of them by the U.S. military, appeared designed to send a message of Washington's resolve to North Korea amid rising tensions on the Korean peninsula.

In recent weeks, North Korea has said it canceled an armistice agreement with the United States that ended the 1950-53 Korean War and has cut all communications hotlines with U.S. forces, the United Nations and South Korea.

North Korea has threatened South Korea with war and the mainland United States with a pre-emptive nuclear strike, although it is far from clear it has the ability to carry out the latter threat.

"The North Koreans have to understand that what they're doing is very dangerous," U.S. Defense Secretary Chuck Hagel told reporters at the Pentagon.

"We must make clear that these provocations by the North are taken by us very seriously and we'll respond to that."

The U.S. military said that its B-2 bombers had flown more than 6,500 miles to stage a trial bombing raid from their bases in Missouri as part of Foal Eagle war drills being held with South Korea.

The bombers dropped inert munitions on the Jik Do Range, in South Korea, and then returned to the continental United States in a single, continuous mission, the military said.

Thursday's drill was the first time B-2s flew round-trip from the mainland United States over South Korea and dropped inert munitions, a Pentagon spokeswoman said.

'REHEARSALS FOR INVASION'

North Korea has put its armed forces on readiness to fight what it says are "hostile" war drills by the United States and South Korea, describing them as rehearsals for invasion. The U.S. says the annual drills are entirely defensive.

Victor Cha, a North Korea expert at the Center for Strategic and International Studies, said the drill fit within the context of ramped efforts by the Pentagon to deter the North from acting upon any of its threats.

Asked whether he thought the latest moves could further aggravate tensions on the peninsula, Cha, a former White House official, said: "I don't think the situation can get any more aggravated than it already is."

Despite the shrill rhetoric from Pyongyang, few believe North Korea, formally known as the Democratic People's Republic of Korea, will risk starting a full-out war.

It has also kept a joint economic zone with the South open as it generates $2 billion a year in trade from the venture, money the impoverished state can ill-afford to lose.

Still, Hagel, who on March 15 announced he was bolstering missile defenses over the growing North Korea threat, said all of the provocations by the reclusive state had to be taken seriously.

"Their very provocative actions and belligerent tone, it has ratcheted up the danger, and we have to understand that reality," Hagel said, renewing a warning that the U.S. military was ready for "any eventuality" on the peninsula.

North Korea conducted a third nuclear weapons test in February in breach of U.N. sanctions and despite warnings from China, its one major diplomatic ally.

While the North has an armory of Soviet-era Scud missiles that can hit South Korea, its longer-range missiles remain untested.

Independent assessments of its missile strike force suggest that it may have the theoretical capacity to hit U.S. bases in Japan and Guam, but the North has not tested these missiles.

Still, Hagel told reporters the North had a "significant" missile capability and defended his decision to spend nearly $1 billion bolstering American missile defense capabilities, saying the Pentagon needed to plan for potential threats.

"You only need to be wrong once," Hagel said.

"And I don't know what president or what chairman or what secretary of defense wants to be wrong once when it comes to nuclear threats."

(Additional reporting by Phil Stewart and David Alexander in Washington; Editing by Warren Strobel and Paul Simao)

Source: http://news.yahoo.com/u-flies-stealth-bomber-practice-raids-over-south-123322255.html

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Thursday, March 28, 2013

S&P 500 closes at a record high, beating '07 mark

NEW YORK (AP) ? For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession, toppling another record left over from the days before government bailouts and failing investment banks.

The Standard & Poor's 500 closed at a new high Thursday, three weeks after another popular market gauge, the Dow Jones industrial average, obliterated its own closing record. The S&P capped its best quarter in a year, rising 10 percent, and the Dow had its best first quarter in 15 years, climbing 11 percent.

The numbers offer more evidence that investors believe the economy is on the mend, said Sam Stovall, chief equity strategist at S&P Capital IQ.

"The low-flying recovery is gaining altitude," Stovall said, citing a truism among investors that rising stock prices come first, then the economy catches up.

Thursday's performance was driven by encouraging economic data. Companies are making record profits quarter after quarter. They're hiring in greater numbers, and the housing market is finally recovering. The economy has expanded for 14 quarters in a row.

The Fed has helped, too. By keeping interest rates near record lows, the central bank has encouraged people to move money out of savings accounts that pay next to nothing and into stocks and other investments.

Investors warned clients not to get overly excited.

"Getting back to where we were is an important step," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. But he cautioned in a note to investors: "Markets are volatile, and if you are a long-term investor you should expect declines."

On Thursday, the S&P 500 rose 6.34 points, or 0.41 percent, to 1,569.19, beating by four points its previous record of 1,565.15 set on Oct. 9, 2007. The index is still shy of its all-time trading high of 1,576.09.

The index has now recovered all of its losses from the recession and the financial crisis that followed. Investors who put their dividends back into the market have done even better. A $10,000 investment in the S&P back in October 2007 would be worth $11,270.

On any other day, a market gain of six points would go unheralded but not after the turmoil that began in late 2008 and persisted through a slow, sometimes stalled recovery.

The S&P 500 is a barometer that gauges market performance. And while professional investors might scoff at using it to decide when to buy and sell, the breaking of an old record can be psychologically important.

However, many obstacles still loom.

The U.S. economy is stable, but growth is anemic. Unemployment is 7.7 percent, versus 4.7 percent, the last time the S&P notched a record. The European debt crisis is far from resolved. And some investors are concerned that the market's gains are being fueled by the Federal Reserve's easy money policy and will disappear once the Fed reverses course.

The crisis of the moment is Cyprus, the Mediterranean island country that struggled this week to get an emergency bailout. For many investors, the bailout deal was a reminder of Europe's lingering economic problems. Elsewhere, Italy failed to set up a new government this week, raising fears that the country will be unable to manage its deep debts.

On Thursday, U.S. economic news was mixed.

The U.S. economy grew faster than first estimated in the fourth quarter, the government reported. But the growth, an annual rate of 0.4 percent, was still weak. The number of Americans seeking unemployment benefits jumped for the second straight week. Longer-term, though, applications for benefits have been declining since November.

In Europe, Cyprus reopened its banks after closing them for nearly two weeks to keep depositors from making panicked withdrawals. Portugal reported that its budget deficit was widening.

"If you're a bull or a bear, you could find enough news out there to convince you of your position," said Jim Lauder, CEO of Global Index Advisors in Marietta, Ga., and co-portfolio manager on Wells Fargo Advantage Dow Jones Target Date Funds.

Brian Singer, partner at William Blair in Chicago, said the market's gains Thursday were more about a lack of any major negative developments than the appearance of any good ones.

"We are looking at a realization that Western civilization is not ending as we know it," Singer said. "Fiscal discussions in the U.S. have settled into an acceptable stalemate. The Italian elections that did not result in a government are on hold. Cyprus hasn't sunk into the Mediterranean."

Thursday marked the end of the first quarter, since markets are closed for Good Friday. Overall, it was a strong quarter.

The Dow climbed for the first 10 trading days of March ? a record not matched in more than 16 years. In the past 10 days, though, it has wavered under the weight of Cyprus.

The Dow rose 11 percent in the first three months of the year, its best quarterly performance since the fourth quarter of 2011. Last year, it lost ground in two quarters and was up by smaller amounts ? 4 percent and 8 percent ? in the other two. On March 5, it beat its own all-time record of 14,164.53, which was also set on Oct. 9, 2007, and has been climbing ever since.

To be sure, the S&P 500's last record was followed by a painful downfall. By March 2009, long after the subprime mortgage market had been revealed as an unsustainable bubble, the S&P had cratered from its lofty heights. On March 9, 2009, it fell to its Great Recession low of 676.53 ? down 57 percent from its October 2007 pinnacle.

With Thursday's gains, it has climbed 132 percent since reaching the bottom. Including dividends, it is up more than 150 percent.

___

Associated Press Business Writer Matt Craft in New York contributed to this report.

Source: http://news.yahoo.com/p-500-closes-record-high-beating-07-mark-201022179--finance.html

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Happy ending for woman who skipped the winning office lotto pool

(Getty Images)

Imagine you work in a small office. A group of co-workers asks if you'd like to go in on some Powerball tickets. You decline. You're on a tight budget, and you've only been there a few weeks, anyway.

You show up for work the next day to find out they won.

That's exactly what happened to Jennifer Maldonado, an administrative assistant at Keller Williams Partners Realty in Plantation, Fla., whose co-workers matched five numbers in Saturday's $338 million Powerball drawing, winning $1 million.

Co-worker Laurie Finkelstein Reader bought 120 tickets?or $240 worth?at a Mobil gas station in Pembroke Pines after collecting $20 from nearly everyone in the office. According to the Miami Herald, Reader offered to lend Maldonado the money since she hadn't received her first paycheck, but Maldonado said no thanks.

[Related: Want a ?Kwikie?? New name for lottery ticket sparks concern in Maine]

When Maldonado showed up for work, "everyone was there, screaming, jumping, running, hugging, crying," according to the paper.

?I knew I was the only one who hadn?t put in the money, so I thought they were pranking me,? Maldonado said.

It wasn't a prank?and, even better, Maldonado's co-workers plan to share their winnings, roughly $83,333 per person after taxes, with her.

"It?s about sharing the happiness," Reader said.

One person who doesn't have to share: Pedro Quezada, a 45-year-old Dominican immigrant and Passaic, N.J., deli owner, who bought the lone $338 million winning Powerball ticket.

Source: http://news.yahoo.com/blogs/sideshow/powerball-office-worker-opts-141538971.html

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Penguins acquire Jarome Iginla from Flames

PITTSBURGH (AP) ? Jarome Iginla spent 16 years chasing a Stanley Cup in Calgary.

The Penguins think he'll only need three months playing alongside the likes of Sidney Crosby and Evgeni Malkin to grab one in Pittsburgh.

The league's hottest team continued its aggressive dealing late Wednesday night, acquiring the six-time All Star forward from the Flames in exchange for prospects and a first-round draft pick.

Pittsburgh sent the Flames the rights to college players Kenneth Agostino and Ben Hanowski as well as the Penguins' first pick in the 2013 draft for the league's fifth-leading active scorer.

The 35-year-old Iginla waived his no-trade clause for the opportunity to join the Penguins. It wasn't exactly a tough sell for Pittsburgh general manager Ray Shero.

"He wants to win," Shero said. "My expectation is that he'll be a really good fit in terms of the team and the guys that we have."

The trade marks the third big move by the Eastern Conference-leading Penguins ahead of next week's deadline. Pittsburgh acquired veteran Dallas Stars forward Brenden Morrow on Sunday and picked up burly San Jose defenseman Doug Murray on Monday.

While bringing in Morrow and Murray gave the Penguins depth and a physical presence around the net on both ends of the ice, landing Iginla provides Pittsburgh with firepower and the potential top-six winger the team has been looking for to pair with reigning NHL MVP Malkin and All-Star forward James Neal.

Shero declined to speculate where Iginla would play and indicated his team's newest winger is hardly concerned about how he will be used.

"He said he would help anyway he could, didn't care about role or who he was playing with," Shero said. "He'll accept any role that's asked of him by coaches or teammates."

Iginla is in the final year of his contract and will be an unrestricted free agent July 1. He was scratched from Calgary's lineup against Colorado, ending his consecutive games streak at 441. He has nine goals and 13 assists this season for the Flames, who are well out of the playoff picture. Iginla could be in Pittsburgh as early as Thursday, but almost certainly won't be available until Saturday's game against the New York Islanders.

Iginla led Calgary to the 2004 Stanley Cup Finals, but the Flames haven't been to the playoffs since 2009 and are currently in 14th in the Western Conference. Flames general manager Jay Feaster thanked the franchise's all-time leading scorer for agreeing to the trade to allow the rebuilding Flames to stockpile young talent.

"We as an organization owe a tremendous debt of gratitude to Jarome," Feaster said, "not only for what he did for the franchise during his tenure as a player here and as our captain, but also for the fact that now as we recognize that despite our best efforts, and despite the work we've put in, we've fallen short of the goals we set for ourselves as an organization.

"We respect very, very much the fact that Jarome worked with us to enable this to come about."

In 1,219 career regular-season games in 16 seasons, all with Calgary, he has 525 goals and 570 assists. He has 28 goals and 21 assists in 54 career playoff games and has played for Canada in three Olympics. Iginla assisted on Crosby's gold-medal winning goal for Team Canada in the 2010 Vancouver Games.

The Penguins have won 13 straight heading into Thursday night's game against Winnipeg and have done much of it without Malkin, who remains sidelined with an upper body injury. Pittsburgh also placed defenseman Kris Letang on injured reserve on Wednesday with a lower body injury and No. 1 goaltender Marc-Andre Fleury is being evaluated after getting run over in a 1-0 victory against Montreal on Tuesday.

None of the injuries appears to be serious and if Pittsburgh can stay healthy over the season's final six weeks, they will be the prohibitive favorite to make it out of the Eastern Conference and vie for the franchise's fourth Stanley Cup.

The bold move to land Iginla only raises the stakes.

"The team on paper doesn't mean too much," Shero said. "We have to do it on the ice."

There are no such hopes ? this year anyway ? for the Flames, who hope forwards Agostino and Hanowski can one day be part of a new foundation to build around.

The 20-year-old Agostino was selected by Pittsburgh in the fifth round of the 2010 draft. The junior leads the Bulldogs in scoring with 15 goals and 22 assists in 33 games this season. Yale will face Minnesota on Friday night in the first round of the NCAA tournament.

The 22-year-old Hanowski, a third-round pick in 2009, recently finished his senior season at St. Cloud State, where he was the team captain. He had 16 goals and 13 assists in 34 games this season.

___

AP Sports Writer John Nicholson in Phoenix contributed to this report.

Source: http://news.yahoo.com/penguins-acquire-jarome-iginla-flames-053709454--nhl.html

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It's The Real 'Really Rapping' On Upcoming April Fool's Mixtape

'It's taking what you know, like these notorious hip-hop themes, and twisting them a little,' Eric Rosenthal tells MTV News of Urbane Outfitters.
By Rob Markman


It's The Real's Jeff and Eric
Photo: MTV News

Source: http://www.mtv.com/news/articles/1704363/its-the-real-jeff-eric-urbane-outfitters-mixtape.jhtml

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Wednesday, March 27, 2013

Soccer-Asian heavyweights lick wounds inflicted by underdogs

March 27 (Reuters) - Japan coach Alberto Zaccheroni was left to rue a profligate forward line as the Blue Samurai blew a chance to become the first team to qualify for the 2014 World Cup finals in Brazil.

Japan only needed to draw against a Jordan team they had thrashed 6-0 last June to secure a fifth consecutive finals appearance but were let down by poor finishing in a 2-1 reversal at Amman's King Abdullah International Stadium on Tuesday.

"We wanted to qualify for the World Cup (on Tuesday) and it is a real shame and we are all disappointed," Zaccheroni was quoted as saying by Kyodo news agency.

"We paid the price for not taking our chances. Our finishing has let us down again. We had about 10 chances and Jordan had three," the Italian added.

Shinji Kagawa, who scored Japan's goal, echoed the Italian's sentiments.

"We've lost and we are gutted," the Manchester United midfielder lamented after Japan wasted a golden opportunity to secure at least a point when Yasuhito Endo's 70th-minute penalty was brilliantly saved by Jordan keeper Amer Sabbah.

"We should have scored more goals and this game was there for the taking. We'll just have to better in our next game at home."

Japan, who lead Asia's Group B on 13 points from six matches, host Australia on June 4 and wrap up their campaign away to Iraq a week later.

A deeper gloom descended on the Australian camp after Holger Osieck's side rallied to salvage a 2-2 home draw against Oman to complicate their passage to Brazil.

Osieck fielded a side that lacked experience and urgency against Oman, leaving forward Tim Cahill slightly concerned over the remaining matches in the campaign.

"I asked for a high-tempo game. I don't want the ball thrown into the box all the time," said the 33-year-old New York Red Bulls striker, scorer of Australia's first goal and a constant aerial threat as the hosts piled on the pressure late on.

"So we'll learn as we go along but overall this is going to take time because there's a lot of young players and inexperience.

"I'm happy for the youngsters that they're getting the experience but it's going to be a difficult run in to the campaign."

RESURGENT KOREA

In Seoul, a winning goal deep into injury time helped South Korea overcome Qatar 2-1 to revive their Group A campaign after managing just one point from their last two matches.

"It was a dramatic victory," Korean coach Choi Kang-hee said. "Because of the manner of victory, that gives the camp a lift going into the final games."

Korea occupy second spot in the group on 10 points from five games as they chase an eighth straight finals appearance.

"We know what we have to do to get to the World Cup and our desire to get there is strong. We have some rebuilding to do but at the moment the focus in on qualification," Choi added.

Group leaders Uzbekistan, on 11 points from six games, increased their hopes of securing a maiden World Cup finals appearance while virtually crushing Lebanon's hopes with a 1-0 victory over the West Asians.

"It was a difficult match and we had to fight in every part of the field. Lebanon played well in the first half and they didn't make any mistakes in defence," Uzbekistan coach Mirdjalal Kasimov said.

"We tried our best against Uzbekistan... but they were the better team," Lebanon coach Theo Bucker said.

"We are playing in the final round of qualifying for the World Cup and that is an achievement for us." (Reporting by Amlan Chakraborty in New Delhi; Editing by John O'Brien)

Source: http://news.yahoo.com/soccer-asian-heavyweights-lick-wounds-inflicted-underdogs-084940278--sow.html

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Nielsen's top programs for March 18-24

Prime-time viewership numbers compiled by Nielsen for March 18-24. Listings include the week's ranking and viewership.

1. "NCIS," CBS, 19.79 million.

2. "Dancing With the Stars," ABC, 17.06 million.

3. "NCIS: Los Angeles," CBS, 16.84 million.

4. "American Idol" (Wednesday), Fox, 12.94 million.

5. "American Idol" (Thursday), Fox, 11.93 million.

6. "Criminal Minds," CBS, 11.58 million.

7. "Castle," ABC, 11.26 million.

8. "The Walking Dead," AMC, 10.99 million.

9. "CSI: Crime Scene Investigation," CBS, 10.53 million.

10. "60 Minutes," CBS, 10.5 million.

11. "The Bible," History, 10.27 million.

12. "Survivor: Caramoan," CBS, 9.79 million.

13. "Dancing With the Stars: Exclusive First Look," ABC, 9.76 million.

14. "The Good Wife," CBS, 9.59 million.

15. "Grey's Anatomy," ABC, 9.39 million.

16. "The Amazing Race 22," CBS, 9.33 million.

17. "Golden Boy," CBS, 9.26 million.

18. "Splash," ABC, 9.02 million.

19. "Hawaii Five-0," CBS, 8.99 million.

20. "2 Broke Girls," CBS, 8.56 million.

___

Online:

http://www.nielsen.com

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2013-03-26-Nielsens-List/id-c067f891c502414db905672cd28fd94e

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Tuesday, March 26, 2013

Schulze returns to Best Buy as chairman emeritus

FILE - This Tuesday, Aug. 14, 2001 file photo shows Richard Schulze following a news conference in Vancouver, British Columbia. Schulze, Best Buy's co-founder and former chairman, is returning to the Best Buy fold as chairman emeritus. The move comes after Schulze considered making a buyout bid for the electronics retailer but never made a formal offer. (AP Photo/The Canadian Press, Chuck Stoody, File)

FILE - This Tuesday, Aug. 14, 2001 file photo shows Richard Schulze following a news conference in Vancouver, British Columbia. Schulze, Best Buy's co-founder and former chairman, is returning to the Best Buy fold as chairman emeritus. The move comes after Schulze considered making a buyout bid for the electronics retailer but never made a formal offer. (AP Photo/The Canadian Press, Chuck Stoody, File)

(AP) ? Best Buy's co-founder and former chairman Richard Schulze is returning to the Best Buy fold as chairman emeritus.

The move comes after Schulze considered making a buyout bid for the electronics retailer but never made a formal offer.

Best Buy has been working to turn around its results as it faces tough competition from online retailers and discounters. Since hiring turnaround expert Hubert Joly as its CEO in August, the company has cut jobs, invested in training employees and started matching online prices.

Schulze is also nominating two former Best Buy executives to the board: former CEO Brad Anderson and former Chief Operating Officer Al Lenzmeier to the board.

Schulze founded Best Buy in 1966 and is its largest shareholder, with a 20 percent stake in the company. He resigned as chairman last May and left the board in June after a company investigation found he knew about an inappropriate relationship then-CEO Brian Dunn had with a female staffer.

Now Schulze says he supports CEO Hubert Joly's plans to turn around the company. Financial results show that his changes seem to be beginning to help.

Earlier this month, the company reported that U.S. revenue in stores open at least 14 months rose 0.9 percent during the fourth quarter, the best performance in 11 quarters. The metric is a key measure of a retailer's health, because it excludes revenue from stores that recently opened or closed.

The move likely shows that when Schulze was preparing a possible bid for the company, he studied Joly's turnaround plan and got more comfortable with it, said Morningstar analyst R.J. Hottovy. In addition, naming two former executives to the board will likely give Joly some more insight about decisions made in the past, Hottovy added. But he said adding more former executives to the company does not detract from Joly's plan.

"Joly is still in the driver seat here," he said.

Best Buy shares rose 38 cents, or 1.7 percent, to $23.16 in morning trading. Its shares have more than doubled since hitting a 52-week low of $11.20 in late December. They traded as high as $27.95 late last March.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-03-25-Best%20Buy-Schulze/id-6e57cb7061ad49908c4f953f5da527d8

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Italian court orders new trial for Amanda Knox

File photos combo shows, from left; Italian student Raffaele Sollecito, slain 21-year-old British woman Meredith Kercher, her American roommate Amanda Knox. Amanda Knox was waiting anxiously Monday, March 25, 2013 in Seattle to hear if she will face trial again as Italy's top criminal court considered whether to overturn her acquittal in the murder of her roommate in Italy. Italian prosecutors have asked the high court to throw out the acquittals of Knox and her Italian ex-boyfriend in the murder of 21-year-old British student Meredith Kercher and order a new trial. The court's decision has been postponed to Tuesday. (AP Photo/files)

File photos combo shows, from left; Italian student Raffaele Sollecito, slain 21-year-old British woman Meredith Kercher, her American roommate Amanda Knox. Amanda Knox was waiting anxiously Monday, March 25, 2013 in Seattle to hear if she will face trial again as Italy's top criminal court considered whether to overturn her acquittal in the murder of her roommate in Italy. Italian prosecutors have asked the high court to throw out the acquittals of Knox and her Italian ex-boyfriend in the murder of 21-year-old British student Meredith Kercher and order a new trial. The court's decision has been postponed to Tuesday. (AP Photo/files)

FILE - In this Tuesday, Oct. 4, 2011 file photo Amanda Knox gestures at a news conference in Seattle Tuesday, Oct. 4, 2011, after returning home from Italy. Italy's highest criminal court has overturned the acquittal of Amanda Knox in the slaying of her British roommate and ordered a new trial. The Court of Cassation ruled Tuesday, March 26, 2013 that an appeals court in Florence must re-hear the case against the American and her Italian-ex-boyfriend for the murder of 21-year-old Meredith Kercher. (AP Photo/Ted S. Warren, file)

FILE - This is a Monday, Oct. 3, 2011 file photo of Amanda Knox as she breaks into tears after hearing the verdict that overturns her conviction and acquits her of murdering her British roommate Meredith Kercher, at the Perugia court, central Italy. Italy's highest criminal court Tuesday March 26, 2013 has ordered a new trial in the case of Amanda Knox in the slaying of her British roommate. The court ruled that an appeals court in Florence must re-hear the case against the American and her Italian-ex-boyfriend. Knox has been living back in the U.S. while her former boyfriend continues studies in Italy. (AP Photo/Pier Paolo Cito, File)

Giulia Bongiorno, lawyer of Amanda Knox's ex-boyfriend, Raffaele Sollecito, talks to reporters as she leaves Italy's Court of Cassation, in Rome, Monday, March 25, 2013. Italy's highest court delayed until Tuesday a decision on whether American student Amanda Knox will face a new trial in the murder of her British roommate - an unsual but not unprecedented move. The court heard six hours of arguments Monday and spent several hours deliberating that and a handful of other cases on its docket before announcing it would issue decision at 10 a.m. (0900 GMT) Tuesday on whether the 2011 acquittals of Knox and her Italian ex-boyfriend Sollecito will stand. Italian prosecutors have asked the high court to throw out the acquittals of Knox and Sollecito in the murder of 21-year-old British student Meredith Kercher and order a new trial. (AP Photo/Riccardo De Luca)

Giulia Bongiorno, lawyer of Amanda Knox's ex-boyfriend, Raffaele Sollecito, talks to reporters as she leaves Italy's Court of Cassation, in Rome, Monday, March 25, 2013. Italy's highest court delayed until Tuesday a decision on whether American student Amanda Knox will face a new trial in the murder of her British roommate - an unsual but not unprecedented move. The court heard six hours of arguments Monday and spent several hours deliberating that and a handful of other cases on its docket before announcing it would issue decision at 10 a.m. (0900 GMT) Tuesday on whether the 2011 acquittals of Knox and her Italian ex-boyfriend Sollecito will stand. Italian prosecutors have asked the high court to throw out the acquittals of Knox and Sollecito in the murder of 21-year-old British student Meredith Kercher and order a new trial. (AP Photo/Riccardo De Luca)

(AP) ? Italy's highest criminal court on Tuesday overturned Amanda Knox's acquittal in the slaying of her British roommate and ordered a new trial, prolonging a case that has become a cause celebre in the United States.

Knox called the decision "painful" but said she was confident that she would be exonerated.

Italian law cannot compel Knox to return for the new trial, and her lawyer said she had no plans to do so. The appellate court hearing the new case could declare her in contempt of court but that carries no additional penalties.

Italy's Court of Cassation ruled that an appeals court in Florence must re-hear the case against the American student and her former Italian boyfriend for the murder of 21-year-old Meredith Kercher. The exact issues that have to be reconsidered won't be known until the court releases its full ruling within 90 days.

Knox, now a student at the University of Washington, stayed up until 2 a.m. Seattle time to hear her fate and issued a statement through a family spokesman.

"It was painful to receive the news that the Italian Supreme Court decided to send my case back for revision when the prosecution's theory of my involvement in Meredith's murder has been repeatedly revealed to be completely unfounded and unfair," she said.

Knox said the matter must now be examined by "an objective investigation and a capable prosecution."

"No matter what happens, my family and I will face this continuing legal battle as we always have, confident in the truth and with our heads held high in the face of wrongful accusations and unreasonable adversity," Knox said.

Knox, now 25, and Raffaele Sollecito, who turned 29 on Tuesday, were arrested shortly after Kercher's body was found in a pool of blood in November 2007 in her bedroom. Kercher, whose throat had been slashed, had shared an apartment with Knox and others in Perugia, an Italian university town where the two women were exchange students.

Prosecutors alleged Kercher was the victim of a drug-fueled sex game gone awry. Knox and Sollecito denied wrongdoing and said they weren't even in the apartment that night, although they acknowledged they had smoked marijuana and their memories were clouded.

An Ivory Coast man, Rudy Guede, was convicted of the slaying in a separate proceeding and is serving a 16-year sentence. Knox and Sollecito were also initially convicted of the murder and given long prison sentences, but were then acquitted on appeal and released in 2011.

The high court's ruling Tuesday overturned the appeals court acquittals.

"She thought the nightmare was over," Knox attorney Carlo Dalla Vedova said after the decision was released.

The court on Tuesday also upheld a slander conviction against Knox. During a 14-hour police interrogation, Knox had accused a local Perugia pub owner of carrying out the killing. The man was held for two weeks based on her allegations, but was then released for lack of evidence.

Dalla Vedova said Knox wouldn't come to Italy "for the moment" but would follow the case from home. He said he didn't think the new appeals trial would begin before early 2014.

It is unclear what would happen if Knox was convicted in a new appeals trial.

"If the court orders another trial, if she is convicted at that trial and if the conviction is upheld by the highest court, then Italy could seek her extradition," Dalla Vedova said Monday.

It would then be up to the United States to decide if it honors the request. U.S. and Italian authorities could also come to a deal that would keep Knox in the United States.

The appeals court that acquitted Knox and Sollecito in 2011 criticized virtually the entire case mounted by prosecutors. The appellate court noted that the murder weapon was never found, said that DNA tests were faulty and that prosecutors provided no murder motive.

It's not clear what part of the appeals sentence was faulted by the high court in ordering a new trial.

Kercher's family attorney, Francesco Maresca, said after Tuesday's ruling: "Yes, this is what we wanted."

Sollecito's attorney, Giulia Bongiorno, noted that Tuesday's ruling was not a determination of guilt but merely a need for further study of the appeals court ruling.

"It's a decision that cancels a verdict and orders a retrial," she said. "I'm not concerned about a deeper reading of the documentation, because I know the documentation."

She acknowledged that perhaps the appeals court ruling had been "too generous" in ruling that the pair simply did not commit the crime, but was confident that Sollecito's innocence would be affirmed.

In her statement, Knox took the Perugia prosecutors to task, saying they "must be made to answer" for the discrepancies in the case. She said "my heart goes out to" Kercher's family.

After nearly four years behind bars in Italy, Knox returned to her hometown of Seattle after the 2011 acquittal and Sollecito resumed his computer science studies, following the degree he earned while studying in prison.

Italy's judicial system allows for two levels of appeals, and prosecutors can appeal acquittals.

Although the court on Monday heard gruesome details, including how Kercher choked on her own blood, it wasn't ruling on the guilt or innocence of the defendants. Its sole task was to decide if the appellate trial was properly conducted.

Dalla Vedova had argued Monday that the slander verdict against Knox should be thrown out because she was questioned without a lawyer even though police essentially treated the student as a suspect in their 14-hour interrogation session.

Because of time she served in prison before the appeals-level acquittals, Knox didn't have to serve time for the slander conviction.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-03-26-Italy-Knox/id-986542551ad44f5bbacd1e5baced7e86

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