Bernanke's "cliff" comments break two-day rally

NEW YORK (Reuters) - Wall Street halted its two-day rally on Tuesday, after Federal Reserve Chairman Ben Bernanke said the central bank lacks tools to cushion the economy from the impact of the "fiscal cliff."

The day's biggest disappointment was Hewlett-Packard Co shares , which sank to a 10-year low after the computer and printer maker swung to a fourth-quarter loss and announced a $5 billion charge related to "accounting improprieties." The stock slid 12 percent to close at $11.71.

Bernanke, in comments before the Economic Club of New York, said the Fed does not have the ability to offset the damage that would result if politicians fail to strike a deal to prevent a series of mandatory tax increases and spending cuts scheduled to go into effect early next year.

The statement caused a downdraft in the market, though the equity market cut most of its losses before the end of the day.

"This is a more realistic and pragmatic picture of where we are, compared to what we've been hearing for the past couple of days from politicians that are mostly PR stunts," said James Dailey, portfolio manager at TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.

Stocks had rallied for the last two sessions after Washington politicians sounded an encouraging note that a deal to avoid the U.S. fiscal cliff could be reached. The gains followed two weeks of sharp losses that pushed the S&P 500 down through the 200-day moving average, a key benchmark of the market's long-term trend.

The S&P ended Tuesday near that level, which was 1,382.68.

The Dow Jones industrial average <.dji> slipped 7.45 points, or 0.06 percent, to 12,788.51 at the close. But the Standard & Poor's 500 Index <.spx> edged up 0.93 of a point, or 0.07 percent, to finish at 1,387.82. The Nasdaq Composite Index <.ixic> inched up 0.61 of a point, or 0.02 percent, to close at 2,916.68.

Dow component HP said it took an $8.8 billion charge in the quarter, with $5 billion related to its acquisition of software firm Autonomy, citing "serious accounting improprieties." HP's market value is now just $23 billion, compared with $100 billion just two years ago.

Best Buy Co shares fell 13 percent to $11.96 after the consumer electronics retailer reported a net loss of $13 million for the third quarter on weaker-than-expected sales at its established stores.

Another factor weighing on stocks was Moody's Investors Service's reduction of France's sovereign rating by one notch to Aa1 after the market's close on Monday. Moody's cited an uncertain fiscal outlook as a result of the weakening economy.

"This brings forward a whole new set of problems to the euro -zone issue. When the lifeguards, in this case, Germany and France, are in trouble, when they need to save people like Greece and Spain, that could be a big concern," Dailey said.

Earlier, data showed U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market recovery was picking up momentum, even though permits for future construction fell.

An index of housing-related shares <.hgx> shot up 2.5 percent.

Volume was roughly 5.6 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of around 6.5 billion.

Advancers outnumbers decliners on the NYSE by a ratio of about 4 to 3. On Nasdaq, the opposite trend took hold, with about 13 stocks falling for every 12 that rose.

(Reporting by Angela Moon; Editing by Jan Paschal)

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Clinton meets Netanyahu to seek Gaza truce

GAZA/JERUSALEM (Reuters) - U.S. Secretary of State Hillary Clinton met Israeli Prime Minister Benjamin Netanyahu on Tuesday and pledged to work for a truce in the Gaza Strip "in the days ahead".

As the two began late-night talks in Jerusalem, Palestinian rocket fire and Israeli air strikes continued. Netanyahu said he would prefer a "long-term" diplomatic solution but repeated his readiness to step up an offensive against Gaza's rocket crews.

Clinton's outline of further days of negotiation, notably in Cairo with Egyptian President Mohamed Mursi, may dampen talk of an immediate end to a week of violence that has killed over 140 people, most Palestinians but including two Israelis on Tuesday.

Officials from Egypt and from Gaza's ruling Hamas movement had talked up the chances of an end to hostilities, at least in some interim form, by the end of the day. But a Hamas leader in Cairo later told Reuters there would be no announcement before Wednesday. He blamed Israel for not responding to proposals.

Netanyahu, who faces a general election in two months and had mobilized army reserves for threatened ground invasion of the enclave, stressed his interest in a "long-term" deal to end rocket fire on Israel - a kind of deal that has eluded him and his predecessors in four years since Israel's last offensive.

Clinton, too, who broke off from an Asian tour with President Barack Obama and assured Netanyahu of "rock-solid" U.S. support for Israel's security, spoke of seeking a "durable outcome" and of the "responsibility" for contributing to peace borne by Egypt, Gaza's other neighbor, whose new leaders hail from the Muslim Brotherhood that inspired Hamas's founders.

"In the days ahead, the United States will work with our partners here in Israel and across the region toward an outcome that bolsters security for the people of Israel, improves conditions for the people of Gaza and moves toward a comprehensive peace for all people of the region," Clinton said.

"It is essential to de-escalate the situation in Gaza. The rocket attacks from terrorist organizations inside Gaza on Israeli cities and towns must end and a broader calm restored.

"The goal must be a durable outcome that promotes regional stability and advances the security and legitimate aspirations of Israelis and Palestinians alike."

Netanyahu, who has seemed in no immediate rush to repeat the invasion of winter 2008-09 in which over 1,400 Palestinians died, said: "If there is a possibility of achieving a long-term solution to this problem with diplomatic means, we prefer that.

"But if not, I'm sure you understand that Israel will have to take whatever action is necessary to defend its people."

AIMS

The Jewish state launched the campaign last week with the declared aim of halting the rocketing of its towns from the Palestinian enclave, ruled by the Hamas militant group that does not recognize Israel's right to exist.

Medical officials in Gaza said 31 Palestinians were killed on Tuesday. An Israeli soldier and a civilian died when rockets exploded near the Gaza frontier, police and the army said.

Gaza medical officials say 138 people have died in Israeli strikes, mostly civilians, including 34 children. In all, five Israelis have died, including three civilians killed last week.

Khaled Meshaal, exile leader of Hamas, said on Monday that Israel must halt its military action and lift its blockade of the Palestinian coastal enclave in exchange for a truce.

Obama, whose relations with the hawkish Netanyahu have long been strained, has said he want a diplomatic solution, rather than a possible Israeli ground operation in the densely populated territory, home to 1.7 million Palestinians.

Israel's military on Tuesday targeted more than 130 sites in Gaza, including ammunition stores and the Gaza headquarters of the National Islamic Bank. Israeli police said more than 150 rockets were fired from Gaza by the evening.

"No country would tolerate rocket attacks against its cities and against its civilians. Israel cannot tolerate such attacks," Netanyahu said with U.N. Secretary-General Ban Ki-moon, who arrived in Jerusalem from talks in Cairo, at his side.

JERUSALEM

After nightfall, Israel stepped up its Gaza bombardment. Artillery shells and missiles fired from naval gunboats slammed into the territory and air strikes came at a frequency of about one every 10 minutes.

In an attack claimed in Gaza by Hamas's armed wing, a longer-range rocket targeted Jerusalem on Tuesday for the second time since Israel launched the air offensive.

The rocket, which fell harmlessly in the occupied West Bank, triggered warning sirens in the holy city about the time Ban arrived for truce discussions. Another rocket damaged an apartment building in Rishon Lezion, near Tel Aviv.

Rockets fired at the two big cities over the past week were the first to reach them in decades, a sign of what Israel says is an increasing threat from Gaza militants.

In the Gaza Strip on Tuesday, Hamas executed six alleged collaborators, whom a security source quoted by the Hamas Aqsa radio said "were caught red-handed" with "filming equipment to take footage of positions". The radio said they were shot.

Militants on a motorcycle dragged the body of one of the men through the streets.

Along Israel's sandy, fenced-off border with the Gaza Strip, tanks, artillery and infantry massed in field encampments awaiting any orders to go in. Some 45,000 reserve troops have been called up since the offensive was launched.

A delegation of nine Arab ministers, led by the Egyptian foreign minister, visited Gaza in a further signal of heightened Arab solidarity with the Palestinians.

Egypt has been a key player in efforts to end the most serious fighting between Israel and Palestinian militants since a three-week Israeli invasion of the enclave in the winter of 2008-09. Egypt has a 1979 peace treaty with Israel seen by the West as the cornerstone of Middle East peace, but that has been tested as never before by the removal of U.S. ally Hosni Mubarak as president last year in the Arab Spring uprisings.

Mursi, elected Egyptian president this year, is a veteran of the Muslim Brotherhood, spiritual mentors of Hamas, but says he is committed to Egypt's treaty with Israel.

Mursi has warned Netanyahu of serious consequences from an invasion of the kind into Gaza four years ago. But he has been careful so far not to alienate Israel, or Washington, a major aid donor to Egypt.

(Additional reporting by Cairo bureau; Writing by Jeffrey Heller and Alastair Macdonald; Editing by Alison Williams)

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Google should not be accused of “unfair” acts: lawmakers

WASHINGTON (Reuters) – Two lawmakers urged the Federal Trade Commission on Monday to steer clear of expanding its authority as it investigates allegations search engine company Google violated antitrust law.

The two California Democrats in the House of Representatives, who count Google as a major campaign contributor, asked the FTC not to accuse the company of “unfair” acts if it believes it broke antitrust law.

Anna Eshoo, on the Energy and Commerce Committee, and Zoe Lofgren, who is on the Judiciary Committee, said there were reports to suggest the FTC planned to use the unfair standard to avoid proving some elements required in an antitrust claim.

They said such a move could lead to over-broad authority for the FTC that could create legal uncertainties for firms and stifle economic growth.

“Such a massive expansion of FTC jurisdiction would be unwarranted, unwise, and likely have negative implications for our nation’s economy,” the lawmakers wrote in the letter, which was dated November 19 and sent to the five FTC commissioners.

The FTC is looking into a long list of complaints brought by rivals of Google, which is also accused of using its dominance to squash competitors in vertical search areas such as shopping and travel.

The FTC staff has reportedly given the commission a report urging them to file a complaint against Google for suing competitors based on standard essential patents and asking for injunctions to stop the sales of their products. Standard essential patents are supposed to be broadly licensed at a fair rate.

Google is the seventh largest contributor to Eshoo, donating $ 13,000 during the 2012 election cycle, according to data from the Center for Responsive Politics. It is the third largest contributor to Lofgren, who got $ 14,500 from Google. The donations came from a Google political action committee and employees and lobbyists associated with Google.

Complaints about Google to the FTC over standard essential patents arise from a raft of litigation between Apple Inc, Google and Microsoft Corp, which have sued each other numerous times in various countries, each alleging that their respective patents are being infringed upon by rivals in the highly competitive smartphone market.

In many cases, the companies ask that their rivals’ products be banned from stores. Many antitrust enforcers believe it is inappropriate for companies to ask for sales bans based on the infringement of essential patents.

FTC Chairman Jon Leibowitz, who is expected to leave the agency soon, said in mid-September that he expected a decision in the case by the end of the year. A decision could be in the form of a lawsuit or, more likely, a settlement.

Google has settled with U.S. law enforcement agencies in the past.

For example, it settled with the FTC following privacy gaffes during the botched roll-out of its social network, Buzz. Later, it paid $ 22.5 million to settle charges that it bypassed the privacy settings of customers using Apple’s Safari browser.

Google also paid a $ 500 million settlement in 2011 to the Justice Department for knowingly accepting illegal advertisements from Canadian pharmacies selling in the United States.

FTC spokesman Peter Kaplan confirmed that the commission had received the letter but said the agency declined comment.

(Reporting By Diane Bartz; editing by Andrew Hay)

Tech News Headlines – Yahoo! News

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New push for most in US to get at least 1 HIV test

WASHINGTON (AP) — There's a new push to make testing for the AIDS virus as common as cholesterol checks.

Americans ages 15 to 64 should get an HIV test at least once — not just people considered at high risk for the virus, an independent panel that sets screening guidelines proposed Monday.

The draft guidelines from the U.S. Preventive Services Task Force are the latest recommendations that aim to make HIV screening simply a routine part of a check-up, something a doctor can order with as little fuss as a cholesterol test or a mammogram. Since 2006, the Centers for Disease Control and Prevention also has pushed for widespread, routine HIV screening.

Yet not nearly enough people have heeded that call: Of the more than 1.1 million Americans living with HIV, nearly 1 in 5 — almost 240,000 people — don't know it. Not only is their own health at risk without treatment, they could unwittingly be spreading the virus to others.

The updated guidelines will bring this long-simmering issue before doctors and their patients again — emphasizing that public health experts agree on how important it is to test even people who don't think they're at risk, because they could be.

"It allows you to say, 'This is a recommended test that we believe everybody should have. We're not singling you out in any way,'" said task force member Dr. Douglas Owens, of Stanford University and the Veterans Affairs Palo Alto Health Care System.

And if finalized, the task force guidelines could extend the number of people eligible for an HIV screening without a copay in their doctor's office, as part of free preventive care under the Obama administration's health care law. Under the task force's previous guidelines, only people at increased risk for HIV — which includes gay and bisexual men and injecting drug users — were eligible for that no-copay screening.

There are a number of ways to get tested. If you're having blood drawn for other exams, the doctor can merely add HIV to the list, no extra pokes or swabs needed. Today's rapid tests can cost less than $20 and require just rubbing a swab over the gums, with results ready in as little as 20 minutes. Last summer, the government approved a do-it-yourself at-home version that's selling for about $40.

Free testing is available through various community programs around the country, including a CDC pilot program in drugstores in 24 cities and rural sites.

Monday's proposal also recommends:

—Testing people older and younger than 15-64 if they are at increased risk of HIV infection,

—People at very high risk for HIV infection should be tested at least annually.

—It's not clear how often to retest people at somewhat increased risk, but perhaps every three to five years.

—Women should be tested during each pregnancy, something the task force has long recommended.

The draft guidelines are open for public comment through Dec. 17.

Most of the 50,000 new HIV infections in the U.S. every year are among gay and bisexual men, followed by heterosexual black women.

"We are not doing as well in America with HIV testing as we would like," Dr. Jonathan Mermin, CDC's HIV prevention chief, said Monday.

The CDC recommends at least one routine test for everyone ages 13 to 64, starting two years younger than the task force recommended. That small difference aside, CDC data suggests fewer than half of adults under 65 have been tested.

"It can sometimes be awkward to ask your doctor for an HIV test," Mermin said — the reason making it routine during any health care encounter could help.

But even though nearly three-fourths of gay and bisexual men with undiagnosed HIV had visited some sort of health provider in the previous year, 48 percent weren't tested for HIV, a recent CDC survey found. Emergency rooms are considered a good spot to catch the undiagnosed, after their illnesses and injuries have been treated, but Mermin said only about 2 percent of ER patients known to be at increased risk were tested while there.

Mermin calls that "a tragedy. It's a missed opportunity."

___

Online:

Task force recommendation: http://www.uspreventiveservicestaskforce.org

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Budget talk optimism spurs Wall Street rally

NEW YORK (Reuters) - Stocks bounced higher for a second consecutive session on Monday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation's fiscal crunch.

Stronger-than-expected earnings from Lowe's and Tyson Foods, as well as encouraging housing data, also contributed to the market's advance. Tyson and Lowe's were the top two percentage gainers on the S&P 500.

The S&P 500 is up more than 2 percent in the last two sessions as rhetoric from legislators over the weekend suggests a deal could be reached to stave off the looming "fiscal cliff," a series of tax and spending changes that will begin to take effect in the new year. The two sides are still far apart in negotiations, however.

The benchmark S&P index had fallen 5.3 percent between Election Day and Friday's rebound, as investors took the opportunity to sell stocks - including some of the year's best performers - just in case Washington cannot come to an agreement and taxes on dividends and capital gains rise in 2013.

"Everyone is quietly breathing a sigh of relief, because frankly, we are no longer looking over the edge of a cliff, we are looking at an opportunity to step back and recalibrate," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

However, the rebound could be a short-lived reprieve from the sharp declines and market volatility could still rise, depending on progress in negotiations. A number of sectors were considered oversold on a technical basis - suggesting a buying opportunity.

"There is no question, what lit the fuse was constructive conversation, constructive talking points out of Washington that has done far more to help the market than anything else - the backdrop is the oversold" market, Kenny said.

Monday's advance marked the biggest percentage gain for the S&P 500 since November 6, when the European Central Bank announced a new bond-buying program aimed at containing the region's debt crisis.

Shares of Lowe's Cos Inc , the world's No. 2 home improvement chain, jumped 6.2 percent to $33.96 to hit a 52-week high after the company reported higher-than-expected quarterly profit and raised its full-year sales forecast.

Home improvement chains tend to benefit as housing strengthens. U.S. home resales unexpectedly increased in October, while separate data showed homebuilder sentiment rose to its highest level in over six years in November.

The PHLX Housing Index <.hgx> rose 1.8 percent.

The Dow Jones industrial average <.dji> gained 207.65 points, or 1.65 percent, at 12,795.96. The Standard & Poor's 500 Index <.spx> was up 27.01 points, or 1.99 percent, at 1,386.89. The Nasdaq Composite Index <.ixic> was up 62.94 points, or 2.21 percent, at 2,916.07.

The S&P edged above its 200-day moving average at around 1,382, which has acted as a resistance level since a drop below the technically significant mark on November 8.

Tyson Foods Inc beat expectations and gave an upbeat forecast, sending its stock up 10.9 percent to $18.72.

Intel shares edged higher, up 0.3 percent to $20.25 after the company said its chief executive will retire in May.

Commodities prices surged, boosting shares of resource companies. Freeport-McMoRan rose 4.1 percent to $38.28, while U.S. Steel rose 5.3 percent to $21.15. The S&P materials sector <.gspm> advanced 2.9 percent as the best performing of the 10 major S&P sectors.

Volume was light and is expected to remain so throughout the Thanksgiving Day holiday-shortened trading week, with about 6.14 billion shares traded on the New York Stock Exchange, NYSE MKT and Nasdaq, below the daily average of 6.49 billion.

Advancing stocks outnumbered declines on the NYSE by 2,678 to 350, while on the Nasdaq, advancers beat decliners 1,949 to 521.

(Reporting by Chuck Mikolajczak; Editing by Dan Grebler)

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Israel says prefers diplomacy but ready to invade Gaza

GAZA/JERUSALEM (Reuters) - Israel bombed dozens more targets in the Gaza Strip on Monday and said that, while it was prepared to step up its offensive by sending in troops, it preferred a diplomatic solution that would end Palestinian rocket fire.

Egypt said a deal for a truce could be close, though by late evening there was no end to six days of heavy missile exchanges as Israeli Prime Minister Benjamin Netanyahu discussed his next steps with his inner circle of senior ministers.

U.S. President Barack Obama called Egypt's President Mohamed Mursi, who has been trying to use his influence with Hamas, his fellow Islamists who run Gaza, to broker a halt. Obama "underscored the necessity of Hamas ending rocket fire", the White House said.

The leader of Hamas, speaking in Cairo, said it was up to Israel to end a new conflict that he said it had started. Israel, which assassinated a Hamas military chief on Wednesday, says its air strikes are to halt Palestinian rocket attacks.

To Mursi and in a subsequent call to Netanyahu, Obama said he regretted the deaths of Israeli and Palestinian civilians.

Israeli attacks on the sixth day of fighting raised the number of Palestinian dead to 101, the Hamas-run Health Ministry said, listing 24 children among them. Subsequent deaths raised the toll in Gaza to 106. Hospital officials in the enclave said more than half of those killed were non-combatants. Three Israeli civilians died on Thursday in a rocket strike.

U.N. Secretary-General Ban Ki-moon, touring the region in the hopes of helping to broker a peace deal, arrived in Cairo, where he met Egypt's foreign minister in preparation for talks with Mursi on Tuesday. He also plans to meet Netanyahu in Jerusalem.

With the power balances of the Middle East drastically reshaped by the Arab Spring during a first Obama term that began two days after Israel ended its last major Gaza offensive, the newly re-elected U.S. president faces testing choices to achieve Washington's hopes for peace and stability across the region.

ROCKET FIRE

Militants in the Gaza Strip fired 110 rockets at southern Israel on Monday, causing no casualties, police said. Israel said it had conducted 80 air strikes on the enclave. The figures meant a relative easing in ferocity - over 1,000 rockets have been fired in the six days, and 1,350 air strikes carried out.

For the second straight day, Israeli missiles blasted a tower block in the city of Gaza housing international media. Two people were killed there, one of them an Islamic Jihad militant.

Khaled Meshaal, exile leader of Hamas, said a truce was possible but the Islamist group, in charge of the Gaza Strip since 2007, would not accept Israeli demands and wanted Israel to halt its strikes first and lift its blockade of the enclave.

"Whoever started the war must end it," he told a news conference in Cairo, adding that Netanyahu, who faces an election in January, had asked for a truce, an assertion a senior Israeli official described as untrue.

Meshaal said Netanyahu feared the domestic consequences of a "land war" of the kind Israel launched four years ago: "He can do it, but he knows that it will not be a picnic and that it could be his political death and cost him the elections."

For Israel, Vice Prime Minister Moshe Yaalon has said that "if there is quiet in the south and no rockets and missiles are fired at Israel's citizens, nor terrorist attacks engineered from the Gaza Strip, we will not attack".

Yaalon also said Israel wanted an end to guerrilla activity by militants from Gaza in the neighboring Egyptian Sinai peninsula.

Although 84 percent of Israelis support the current Gaza assault, according to a poll by Israel's Haaretz newspaper, only 30 percent want an invasion.

DIPLOMACY "PREFERRED"

"Israel is prepared and has taken steps, and is ready for a ground incursion which will deal severely with the Hamas military machine," an official close to Netanyahu told Reuters.

"We would prefer to see a diplomatic solution that would guarantee the peace for Israel's population in the south. If that is possible, then a ground operation would no longer be required. If diplomacy fails, we may well have no alternative but to send in ground forces," he added.

Egypt, where Mursi has his roots in Hamas's spiritual mentors the Muslim Brotherhood, is acting as a mediator in the biggest test yet of Cairo's 1979 peace treaty with Israel since the fall of Hosni Mubarak early last year.

"I think we are close, but the nature of this kind of negotiation, (means) it is very difficult to predict," Egyptian Prime Minister Hisham Kandil, who visited Gaza on Friday in a show of support for its people, said in an interview in Cairo for the Reuters Middle East Investment Summit.

Egypt has been hosting leaders of both Hamas and Islamic Jihad, a smaller armed faction.

Israeli media said a delegation from Israel had also been to Cairo for truce talks. A spokesman for Netanyahu's government declined comment on the matter.

Egypt's foreign minister, who met U.N. chief Ban on Monday, is expected to visit Gaza on Tuesday with a delegation of Arab ministers.

THOUSANDS MOURN FAMILY

Thousands turned out on Gaza's streets to mourn four children and five women who were among 11 people killed in an Israeli air strike that flattened a three-storey home the previous day.

The bodies were wrapped in Palestinian and Hamas flags. Echoes of explosions mixed with cries of grief and defiant chants of "God is greatest!".

Those deaths drew more international calls for an end to hostilities and could test Western support for an offensive that Israel billed as self-defense after years of cross-border rocket attacks.

Israel said it was investigating the strike that brought the home crashing down on the al-Dalu family, where the dead spanned four generations. Some Israeli newspapers said the house might have been targeted by mistake.

In scenes recalling Israel's 2008-2009 winter invasion of the coastal enclave, tanks, artillery and infantry have massed in field encampments along the sandy, fenced-off border.

Israel has also authorized the call-up of 75,000 military reservists, so far mobilizing around half that number.

The Gaza fighting adds to worries of world powers watching an already combustible region, where several Arab autocrats have been toppled in popular revolts in the past two years and a civil war in Syria threatens to spread beyond its borders.

In the absence of any prospect of permanent peace between Israel and Islamist factions such as Hamas, mediated deals for each to hold fire unilaterally have been the only formula for stemming bloodshed in the past.

Hamas and other groups in Gaza are sworn enemies of the Jewish state, which they refuse to recognize and seek to eradicate, claiming all Israeli territory as rightfully theirs.

Hamas won legislative elections in the Palestinian Territories in 2006. A year later, after the collapse of a unity government under President Mahmoud Abbas, it seized Gaza in a brief civil war with Abbas's forces.

(Writing by Jeffrey Heller, Dan Williams and Peter Graff; Editing by Alastair Macdonald)

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Man demoted for Facebook comments wins case

LONDON (AP) — Britain‘s High Court ruled Friday that a Christian was unfairly demoted for posting his opposition to gay marriage on Facebook.

Adrian Smith was stripped of his management position with the Trafford Housing Trust in northwest England and had his salary cut by 40 percent after posting that gay weddings in churches were “an equality too far.”

The trust said Smith broke its code of conduct by expressing religious or political views that might upset co-workers.

But High Court judge Michael Briggs ruled Friday that Smith had been “taken to task for doing nothing wrong” and found his employer guilty of breach of contract.

Smith said he was glad the court had backed the principle that “Britain is a free country where people have freedom of speech.”

And he received support from veteran gay rights and civil liberties campaigner Peter Tatchell, who said Smith’s employer had overreacted.

“In a democratic society, Adrian has a right to express his point of view, even if it is misguided and wrong,” Tatchell said.

Trafford Housing Trust chief executive Matthew Gardiner, said he “fully accepted” the court’s decision and had apologized to Smith, though it was not clear whether he would be reinstated.

In Britain, same-sex couples can currently form civil partnerships, which carry the same legal rights as marriage. The government wants to change the law to include gay marriage, a move opposed by many religious groups.

Social Media News Headlines – Yahoo! News

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Tom Cruise & George Clooney Sign On to Sci-Fi Films & More Casting News

By Julia Haskins

11/18/2012 at 06:30 PM EST

George Clooney and Tom Cruise

Daniel Deme/EPA/Landov; Jackson Lee/Splash News Online

Get ready to squirm!

Tom Cruise, George Clooney and Ashley Greene have all signed on to star in some creepy film projects.  

Cruise takes on aliens in the sci-fi war flick All You Need Is Kill, Zimbio reports. After dying in battle, the alien-fighting soldier Cruise must relive the day again and again until he can escape the cycle. The movie is scheduled for a March 2014 release.

Meanwhile, Clooney is in talks to play the lead in 1952, a sci-fi flick about a man who contacts extra-terrestrial life on Earth, Variety reports. 

After starring in the Twilight saga, Greene is no stranger to the supernatural. She's been tapped for Satanic, a horror movie that follows a group of college students who spend Thanksgiving break in their dorm, only to battle a mysterious gang and try to survive what they thought would be a relaxing week, TheWrap reports.

Also coming soon: 

• A third season is in the works for American Horror Story, Deadline reports. Jessica Lange is one of several actors set to return in different roles for the new installment. Production will begin in summer 2013 and premiere in the fall of 2013.

• It's a family affair for Jack Nicholson and Robert Downey Jr., who will play father and son in The Judge, Ace Showbiz reports. The courtroom drama follows a lawyer who comes home after his mother's death only to discover that his father is a suspect in the murder.

• After endless rumors, Michael Bay has made it official on his website: Mark Wahlberg will star in Transformers 4, The Hollywood Reporter confirms. "Mark is awesome," Bay said. "We had a blast working on Pain and Gain and I'm so fired up to be back working with him. An actor of his caliber is the perfect guy to re-invigorate the franchise and carry on the Transformers' legacy.” Transformers 4 hits theaters June 27, 2014.

• Legos are getting the Hollywood treatment with the help of some big name talent. Liam Neeson, Will Ferrell, Elizabeth Banks and Morgan Freeman have all joined the cast of Lego: Piece of Resistance, THR confirms. Chris Pratt, Alison Brie, Nick Offerman and Will Arnett are also on board for the 3D animated movie. The movie comes to theaters February 7, 2014.

• Two Steve McQueen biopics are in the works, Ace Showbiz reports.
Brothers Chris Hemsworth and Liam Hemsworth are slated to star in the film Triumph AKA 40 Summers Ago, while Jeremy Renner has signed on to a different untitled Steve McQueen flick.

• Chris Hemsworth will also star in the crime thriller Candy Store, Ace Showbiz reports. The film revolves around an operative who must start over after losing everything.

• One Direction may sing "They Don’t Know About Us," but fans will get a behind-the-scenes look at the world of the powerhouse group in their new movie, AceShowbiz reports. "We are going to do our first-ever movie and it's going to be in 3D and it's coming to cinemas near you on the 30th of August, 2013," Niall Horan said on the band's appearance on Today.

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Wall Street Week Ahead: Going off "cliff" with a bungee cord

NEW YORK (Reuters) - The 1987 crash. The Y2K bug. The debt ceiling debacle of 2011.

All these events, in the end, turned out to be buying opportunities for stocks. So will the "fiscal cliff," some investors say as they watch favorite stocks tumble during the political give-and-take happening in Washington.

The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday, signaling Wall Street's recent declines could be a buying opportunity. The gains were small and sentiment remains weak, but it suggests hope for market bulls.

Though shares ended moderately higher on Friday, it was not enough to offset losses for the week. The S&P was down 1.5 percent, while both the Dow and the Nasdaq fell 1.8 percent.

The S&P 500 is down more than 5 percent in the seven sessions that followed President Barack Obama's re-election. Uncertainty arose as attention turned to Washington's task of dealing with mandated tax hikes and spending cuts that could take the U.S. economy back into recession.

Some see the market's move as an overreaction to hyperbolic headlines about policy gridlock in Washington, believing stocks may start to rebound in what should be a quiet few days ahead of the Thanksgiving holiday next Thursday.

"It just doesn't seem to make any sense that you suddenly wake up the day after the election and realize we've got a fiscal cliff," said Krishna Kumar, partner at New York hedge fund Goose Hollow Alpha Advisors.

Not long ago the S&P was on target for its second-best year in the last 10, riding a 17 percent advance in 2012. That's been halved to about 8 percent, which isn't bad but disappointing compared with just a month ago.

Investors have been selling the year's winners. Apple is down 25 percent from its peak above $700. General Electric is down 14 percent; Google has lost 16 percent. Overall, the stocks that make up the top 10 percent of performers in the month prior to Election Day have been the worst performers since, according to Bespoke Investment Group of Harrison, New York.

"I think it's a good opportunity to be long stocks at these levels," said Kumar.

Hikes on capital gains and dividend taxes are on the line, and Obama has dug in his heels on what he sees as a mandate to make the tax code more progressive.

He seems to have the upper hand in dealings with Congress because Republican lawmakers don't want to see tax rates increase, which is what will happen if no solution is found by the beginning of 2013. Republicans don't want to take the blame for driving the economy over the cliff.

The current crisis is similar to last year's fight to raise the U.S. debt ceiling, which led to the downgrade of the United States' top credit rating in early August 2011.

During the dealings, the S&P 500 lost 18.8 percent between its peak in July 2011 and its bottom in August. As the market slid, the political standoff badly hurt investors' confidence in Washington, setting off a spike in volatility.

In the end a deal was announced that raised the ceiling and put off longer-term fiscal decisions until January 1, 2013, setting the stage for today's "fiscal cliff" crisis.

After staying flat through September 2011, the S&P 500 jumped 31 percent between its October low and the end of March.

BUY THE DIP?

Gridlock in Washington and all that could possibly go wrong with the economy if a deal is not reached have grabbed the headlines, but the negotiations leave room for stock market gains. Congressional leaders said Friday they will work through the Thanksgiving holiday recess to find a solution.

"The debate over how to solve (the fiscal cliff) may be more productive than is commonly recognized," said Brad Lipsig, senior portfolio manager at UBS Financial Services in New York.

"The U.S. is facing a major debt overhang, and serious steps toward addressing it might ultimately be viewed as a positive for future growth," he said. "The market may recognize this and, after a time of hand wringing, recover from the concerns with a renewed sense of optimism."

The recent selling took the S&P 500's relative strength index - a technical measure of internal strength - below 30 this week, indicating the benchmark is oversold and due for a rebound.

The RSI in four of the 10 S&P sectors - utilities, telecoms, consumer staples and technology - is below 30 and the highest RSI reading, for the consumer discretionary sector, is below 40, suggesting a bounce is in store.

"What I want to do is what we did during the decline following the budget negotiations in the summer of 2011: The lower the stock market goes, the more I want to own stock," said Brian Reynolds, chief market strategist at New York-based Rosenblatt Securities.

"If we go off the cliff it will be with a bungee cord attached," he said.

KEEP CALM AND HEDGE

Volatility is expected to rise through the end of November and to spike in late December if no agreement on the fiscal cliff is reached in Congress. Alongside comes opportunity for those with high risk tolerance.

"Recently, volatility has increased in the market overall. You can't really pick it up in the VIX yet, but I think as we get through November, I think you're likely to see the VIX be at a relatively higher level," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

In 2011, the VIX averaged 19.2 in July and 35 in August. So far this month the average is 17.8 and it is expected to spike if negotiations on the cliff drag into late next month.

"Looking at the range of possibilities, I would say any of them would be better than sitting here waiting. I would even put going off the fiscal cliff in that category," said Jill Cuniff, president of Seattle-based Edge Asset Management Inc, which manages about $20 billion.

"But we don't believe Congress will let that happen; there's going to be some middle ground here."

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

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Israeli air strike kills 11 civilians in Gaza: Hamas

GAZA/JERUSALEM (Reuters) - An Israeli missile killed at least 11 Palestinian civilians including four children in Gaza on Sunday, medical officials said, apparently an attack on a top militant that brought a three-storey home crashing down.

International pressure for a ceasefire seemed certain to mount in response to the deadliest single incident in five days of Palestinian rocket attacks on Israel and Israeli air strikes on the Gaza Strip.

Egypt has taken the lead in trying to broker a ceasefire and Israeli media said a delegation from Israel had been to Cairo for talks on ending the fighting, although a government spokesman declined to comment on the matter.

Egyptian President Mohamed Mursi met Hamas political leader Khaled Meshaal and Islamic Jihad's head Ramadan Shallah as part of the mediation efforts, but a presidency statement did not say if they were conclusive.

Izzat Risheq, a close aide to Meshaal, wrote in a Facebook message that Hamas would agree to a ceasefire only after Israel "stops its aggression, ends its policy of targeted assassinations and lifts the blockade of Gaza".

Listing Israel's terms for ceasing fire, Moshe Yaalon, a deputy to the prime minister, wrote on Twitter: "If there is quiet in the south and no rockets and missiles are fired at Israel's citizens, nor terrorist attacks engineered from the Gaza Strip, we will not attack."

Gaza health officials said 72 Palestinians , 21 of them children and several women have been killed in Gaza since Israel's offensive began. Hundreds have been wounded.

Israel gave off signs of a possible ground invasion of the Hamas-run enclave as the next stage in its offensive, billed as a bid to stop Palestinian rocket fire into the Jewish state. It also spelt out its conditions for a truce.

U.S. President Barack Obama said that while Israel had a right to defend itself against the salvoes, it would be "preferable" to avoid a military thrust into the Gaza Strip, a narrow, densely populated coastal territory. Such an assault would risk high casualties and an international outcry.

A spokesman for the Hamas-run Interior Ministry said 11 people, all of them civilians, were killed when an Israeli missile flattened the home of the Dalu family. Medics said four women and four children were among the dead.

Israel's chief military spokesman said Yihia Abayah, a senior commander of rocket operations in the Gaza Strip, had been the target.

The spokesman, Yoav Mordechai, told Israel's Channel 2 television he did not know whether Abayah was killed, "but the outcome was that there were civilian casualties". He made no direct mention of the destroyed dwelling.

Prime Minister Benjamin Netanyahu said earlier that he had assured world leaders that Israel was doing its utmost to avoid causing civilian casualties in the military showdown with Hamas.

"The massacre of the Dalu family will not pass without punishment," Hamas's armed wing said in a statement.

VIOLENCE

In other air raids on Sunday, two Gaza City media buildings were hit, witnesses said. Eight journalists were wounded and facilities belonging to Hamas's Al-Aqsa TV as well as Britain's Sky News were damaged.

An employee of the Beirut-based al Quds television station lost his leg in the attack, local medics said.

The Israeli military said the strike targeted a rooftop "transmission antenna used by Hamas to carry out terror activity", and that journalists in the building had effectively been used as human shields by Gaza's rulers.

For their part, Gaza militants launched dozens of rockets into Israel and targeted its commercial capital, Tel Aviv, for a fourth day, once in the morning and another after dark.

Israel's "Iron Dome" missile shield shot down all three rockets, but falling debris from the daytime interception hit a car, which caught fire. Its driver was not hurt.

In scenes recalling Israel's 2008-2009 winter invasion of Gaza, tanks, artillery and infantry massed in field encampments along the sandy, fenced-off border. Military convoys moved on roads in the area newly closed to civilian traffic.

Netanyahu said Israel was ready to widen its offensive.

"We are exacting a heavy price from Hamas and the terrorist organisations and the Israel Defence Forces are prepared for a significant expansion of the operation," he said at a cabinet meeting, giving no further details.

The Israeli military said 544 rockets fired from Gaza have hit Israel since Wednesday, killing three civilians and wounding dozens. Some 302 were intercepted and 99 failed to reach Israel and landed inside the Gaza Strip, it added.

Israel's declared goal is to deplete Gaza arsenals and force the Islamist Hamas to stop rocket fire that has bedevilled Israeli border towns for years and is now displaying greater range, putting Tel Aviv and Jerusalem in the crosshairs.

Israel withdrew settlers from Gaza in 2005 and two years later Hamas took control of the impoverished enclave, which the Israelis have kept under blockade.

OBAMA CAUTIONS AGAINST GROUND CAMPAIGN

At a news conference during a visit to the Thai capital Bangkok, Obama said Israel has "every right to expect that it does not have missiles fired into its territory".

He added: "If this can be accomplished without a ramping up of military activity in Gaza that is preferable. That's not just preferable for the people of Gaza, it's also preferable for Israelis because if Israeli troops are in Gaza they're much more at risk of incurring fatalities or being wounded," he said.

Obama said he had been in regular contact with Egyptian and Turkish leaders - to secure their mediation in bringing about a halt to rocket barrages by Hamas and other Islamist militants.

"We're going to have to see what kind of progress we can make in the next 24, 36, 48 hours," he added.

Diplomatic efforts continued on Sunday when French Foreign Minister Laurent Fabius met Israeli officials and Palestinian President Mahmoud Abbas in the West Bank.

"It is absolutely necessary that we move urgently towards a ceasefire, and that's where France can be useful," Fabius told French television, adding that war must be avoided.

U.N. Secretary-General Ban Ki-moon will be in Egypt on Monday for talks with Mursi, the foreign ministry in Cairo said. U.N. diplomats earlier said Ban was expected in Israel and Egypt this week to push for an end to the fighting.

Israel's operation has so far drawn Western support for what U.S. and European leaders have called its right to self-defence, but there was also a growing number of appeals from them to seek an end to the hostilities.

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