Amnesty Int: Ivory Coast torturing detainees
















ABIDJAN, Ivory Coast (AP) — Ivory Coast security officials are torturing dozens of detainees by administering electric shocks and other forms of abuse, Amnesty International alleged Friday.


The victims include people charged with endangering state security in the wake of a recent spate of attacks targeting military installations. Since early August, unknown gunmen have carried out roughly 10 attacks at checkpoints, military bases and other installations throughout the country, including in the commercial capital of Abidjan.












United Nations officials have said that more than 200 people have been detained on suspicion of involvement in the attacks, and that torture has been documented at multiple detention facilities.


Gaetan Mootoo, West Africa researcher for Amnesty, said an investigation team received reports of a range of abuses during a recent month-long visit.


“We were able to meet dozens of detainees who told us how they have been tortured by electricity or had molten plastic poured on their bodies,” Mootoo said. “Two of them have been sexually abused. Some have been held for many months denied contact with their families and access to lawyers.”


Army spokesman Cherif Moussa denied the torture allegations Friday. “Our camps are not concentration camps,” he said.


However, he acknowledged the possibility that individual soldiers may occasionally “go beyond what they are allowed to do” when dealing with inmates.


He added that the government tried to ensure that inmates’ rights were respected. “We want to prove that we are not abusing people’s rights,” he said. “We’re working for the state’s security. We’re working for the people’s security.”


Earlier this month, the Associated Press interviewed former detainees at a military camp in the southwestern port town of San Pedro who described widespread beatings as well as the use of electric shocks. A guard at the camp corroborated most of the claims, though camp commanders denied them.


In its statement Friday, Amnesty described how one detainee, a police officer, had died as a result of the torture he endured at the San Pedro camp.


“Serge Herve Kribie was arrested in San Pedro on August 21 by the national army and interrogated about recent attacks,” Amnesty said. “He was stripped naked, tied to a pole, had water poured on his body, and was then subjected to electric shocks. He died a few hours later.”


Amnesty said that some detainees were only released after ransoms were paid. One detainee told the rights group: “My parents first paid 50,000 CFA (a little under US $ 100) and then after my release, my jailers went at my house and demanded a higher sum. I told them that I couldn’t pay such an amount and they agreed to receive 20,000 CFA more (about US$ 40).”


The government has blamed the attacks on allies of former President Laurent Gbagbo, who was arrested in April 2011. Gbagbo’s refusal to cede office after losing the November 2010 election to now-President Alassane Ouattara sparked six months of violence in which at least 3,000 were killed.


Amnesty researchers also met with some of the more than 100 Gbagbo allies – including his wife, Simone – who are being detained on charges stemming from the post-election violence.


“Some of them told us that despite the fact that they have been held since April 2011, they only saw an investigating judge twice for less than a few hours,” Mootoo said.


Despite widespread evidence that forces loyal to Ouattara also committed atrocities during the violence, none have been arrested or credibly investigated, sparking allegations of victor’s justice.


Also Friday, in Amsterdam, judges at the International Criminal Court rejected a request for release by former president Gbagbo, who is being detained on suspicion of crimes against humanity.


Africa News Headlines – Yahoo! News



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Rolling Stones play $20 surprise gig in Paris
















PARIS (Reuters) – The Rolling Stones performed an energetic warm-up gig in Paris on Thursday for a few hundred fans after announcing on Twitter that tickets would go on sale for 15 euros ($ 19.45) just hours in advance.


“I can’t believe we’re all still standing up, you’d think by now one or two of us would be sitting down, but we’re not,” lead singer Mick Jagger, 69, told fans at the Trabendo, a 700-capacity venue in northern Paris, during the 75 minute surprise show.












Fans said the small space created an optimal setting for the show which kicked off with “Route 66″ and ended with “Brown Sugar”.


“We were right next to them, we could see them perfectly,” said one French fan who gave his name as Gianni. “It was a very small room and they were running all over the stage…they seemed really happy.”


Some got an additional perk after the show, as Jagger signed autographs before being whisked away in a black Mercedes sedan.


Earlier this month, the band announced they would perform four concerts at large arenas – two in London and two near New York – to celebrate their 50th anniversary. Their last world tour ended in 2007.


But fans have complained about high ticket prices, which range from 95 pounds ($ 150) to as much as 950 pounds for a “VIP hospitality” seat. Tickets have been offered online for several thousands pounds each, British media has reported.


The Paris music scene has been awash with rumours that the Stones will also play to bankers invited by Paris-based investment house Carmignac Gestion at a theatre in the heart of Paris on Monday.


In recent years, Carmignac has recruited former Velvet Underground frontman Lou Reed and British rocker Rod Stewart to play similar gigs, usually to an exclusive audience.


Carmignac sent out mystery invitations giving the date and location of what it called “the biggest secret event of the year” without identifying the performer. The investment house has declined to comment.


On Thursday, the band banned mobile phones, cameras, video equipment and recording devices from those going into the gig.


Some fans drove to Paris from as far away as Germany.


Sebastian Baaske said he set off in his car from Hanover, Germany on Wednesday afternoon in hopes of securing a ticket.


“My girlfriend said I’d regret it if I didn’t… It’s all worth it,” the 35-year-old Baaske said.


The Rolling Stones will play the O2 Arena in the British capital on November 25 and 29 before crossing the Atlantic to perform at the Prudential Center, Newark, on December 13 and 15.


($ 1 = 0.7711 euros)


(Writing by Mike Collett-White and Alexandria Sage, Additional Reporting by Anca Ulea. Editing by Jill Serjeant)


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Star Silicon Valley analyst felled by Facebook IPO fallout
















SAN FRANCISCO (Reuters) – The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc’s initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.


“Pretty shocked,” was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.












“I’d put him at the top. If not at the top, then near the top,” said Jacob. “He really knew what to look for.”


In addition to firing Mahaney, Citigroup paid a $ 2 million fine to Massachusetts regulators to settle charges that the bank improperly disclosed research on Facebook ahead of its $ 16 billion IPO in May.


The settlement agreement said Mahaney failed to supervise a junior analyst who improperly shared Facebook research with the TechCrunch news website. (Settlement agreement: http://r.reuters.com/pyj63t)


The settlement agreement also outlined an incident in which Mahaney failed to get approval before responding to a journalist’s questions about Google Inc — and told a Citigroup compliance staffer that the conversation had not occurred — even after being warned about unauthorized conversations with the media.


Mahaney declined to comment.


Mahaney got his start in the late 1990s, during the first dot-com boom where he worked at Morgan Stanley for Mary Meeker, one of the star analysts of the time. He went on to work at hedge fund Galleon Group before moving to Citigroup in 2005. Unlike most of his New York-based peers in the analyst world, Mahaney worked in San Francisco’s financial district, close to the companies and personalities at the heart of the tech industry.


Earlier this month, Mahaney was named the top Internet analyst for the fifth straight year by Institutional Investor. The review cited fans of Mahaney who praised a “systematic” investment approach that allows him to avoid the “waffling” often evidenced by other analysts.


Mahaney’s Buy rating on IAC/InteractiveCorp in April 2011, when the stock traded at $ 33.32, allowed investors to lock in a 51 percent gain before he downgraded the stock to a Hold at $ 50.31 a few months later, according to Institutional Investor.


But it wasn’t only his stock picks that put him in good stead. He earned kudos for simply being a nice guy.


“He’s a kind and thoughtful person and that’s evident in the way he deals with people,” said Jason Jones of Internet investment firm HighStep Capital. “He’s very well liked on Wall Street because of that.”


A CAUTIOUS VIEW ON FACEBOOK


Mahaney was only indirectly involved in the incident involving the Facebook research, according to the settlement agreement by Massachusetts regulators released on Friday. But the actions of the junior analyst who worked for him provide an unusual glimpse into the type of behind-the-scenes information trading that regulators are attempting to rein in.


While the Massachusetts regulators did not identify any of the individuals by name, Reuters has learned that the incident involved TechCrunch reporters Josh Constine and Kim-Mai Cutler as well as Citi junior analyst Eric Jacobs.


Jacobs, Constine and Cutler all did not respond to requests for comments.


In early May, shortly before Facebook’s IPO, Jacobs sent an email to Cutler and Constine. Constine attended Stanford University at the same time as Jacobs.


Constine, who studied social networks such as Facebook and Twitter for his 2009 Master’s degree in cybersociology at Stanford, had a close friendship with Jacobs, according to the settlement agreement.


“I am ramping up coverage on FB and thought you guys might like to see how the street is thinking about it (and our estimates),” Jacobs wrote in the email. The email included an “outline” that Jacobs said would eventually become the firm’s 30-40 page initiation report on Facebook.


He also included a “Facebook One Pager” document, which contained confidential, non-public information that Citigroup obtained in order to help begin covering Facebook after the IPO.


Asked by Constine if the information could be published and attributed to an anonymous source, Jacobs responded that “my boss would eat me alive,” the agreement said.


A spokeswoman for AOL Inc, which owns TechCrunch, declined to answer questions on the matter, saying only that “We are looking into the matter and have no comment at this time.”


Ironically, Mahaney was one of a small group of analysts at the many banks underwriting Facebook’s IPO who had cautious views of the richly valued offering. Mahaney initiated coverage of the company with a neutral rating.


Analysts at the top three underwriters on Facebook’s IPO – Morgan Stanley, Goldman Sachs and J.P. Morgan – started the stock with overweight or buy recommendations.


Earlier this year, Reuters reported that Facebook had pre-briefed analysts for its underwriters ahead of its IPO, advising them to reduce their profit and revenue forecasts.


Facebook, whose stock was priced at $ 38 a share in the IPO, closed Friday’s regular session at $ 21.94 and has traded as low as $ 17.55.


“There were tens of billions of dollars in losses based on hyping the name, a lack of skeptical information and misunderstanding the company,” said Max Wolff, chief economist and senior analyst at research firm GreenCrest Capital.


“It’s highly unfortunate and darkly ironic that one of the signature regulatory actions from this IPO so far involves punishing analysts for disseminating cautious information about Facebook,” he added.


(Editing by Jonathan Weber, Mary Milliken and Lisa Shumaker)


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Trans fats raise cholesterol, not blood sugar
















NEW YORK (Reuters Health) – Although trans fats raise your levels of “bad” cholesterol, they don’t appear to have lasting impacts on your blood sugar, according to a new review of the medical evidence.


Researchers found that both blood sugar and insulin, the hormone that keeps blood sugar levels in check, were similar regardless of how much trans fat people ate.












The link between trans fats and high cholesterol levels is widely accepted, but there have been conflicting results on the effect on blood sugar control, which is involved in diabetes.


Trans fats, technically known as trans fatty acids, are found in animal products and chemically processed vegetable oils.


In response to studies linking high consumption of the substances to an increased risk of heart disease, the U.S. Food and Drug Administration has required food makers to disclose trans fats on nutrition labels, and some cities and states have banned them in restaurants or schools (see Reuters Health report of July 16, 2012).


To get a better sense of trans fats’ influence on blood sugar and insulin, Dr. Christos Mantzoros of Harvard Medical School in Boston and colleagues pooled the results from seven experiments including 208 people.


In five of the studies, the participants’ blood sugar, insulin and cholesterol levels were monitored for several weeks under a diet of high trans fat consumption, and again for a few weeks when the trans fats were substituted for other fats, such as palm or soybean oil.


Two of the studies compared people who ate a diet that included trans fats to others who ate a diet without trans fats.


There were no changes in blood sugar or insulin levels during the times when people ate trans fats, compared to when they ate the other fats, Mantzoros’s group reported in The American Journal of Clinical Nutrition.


However, the researchers found that during the trans fat-eating weeks, “good,” or HDL, cholesterol went down and “bad,” or LDL, cholesterol went up.


“They saw what you would expect to see” regarding cholesterol, which shows that the studies were well done, said Mark Pereira, an expert in public health and nutrition at the University of Minnesota in Minneapolis.


Pereira, who was not involved in the study, said it isn’t definitive proof that trans fats can’t influence blood sugar levels.


Although several weeks is enough time to see an effect on cholesterol, he said, a potential impact on metabolism might not show up until later.


“If you’re going to control weight and switch around fats in the diet it might take a lot longer, because these fatty acids are being gradually incorporated over time into tissues in to the body,” Pereira told Reuters Health.


One of the studies in Mantzoros’s analysis lasted for 16 weeks, but it too found no difference in blood sugar and insulin changes between people who ate trans fats and those who ate other fats.


Even if trans fats do have an effect on blood sugar control, Pereira said, it’s becoming a moot point as the amount of trans fats that people eat in the U.S. has diminished considerably.


According to the Centers for Disease Control and Prevention, trans fat levels in the blood of white adults dropped by 58 percent from 2000 to 2009.


A large national study found that cholesterol levels have also been declining since the 1980s.


Part of this is due to the popularity of cholesterol-lowering drugs, but researchers suspect that cutting back on trans fats has also made a difference (see Reuters Health report of October 16, 2012).


SOURCE: http://bit.ly/Rky6va The American Journal of Clinical Nutrition, online October 3, 2012.


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Consumers seen lifting GDP despite business caution
















WASHINGTON (Reuters) – U.S. economic growth likely picked up a bit in the third quarter as a last minute burst in consumer spending offset cutbacks in investment by cautious businesses.


The stronger pace of expansion, however, is still expected to fall short of what is needed to make much of a dent in unemployment, and will offer little cheer for the White House ahead of the closely contested November 6 presidential election.












Gross domestic product probably expanded at a 1.9 percent annual rate, according to a Reuters survey of economists, accelerating from the second quarter’s 1.3 percent pace. A pace in excess of 2.5 percent would be needed over several quarters to make substantial headway cutting the jobless rate.


“Two percent growth is still significantly weaker than what would be necessary to make and sustain a successful transition to a more self-sustaining recovery,” said Millan Mulraine, senior economist at TD Securities in New York.


The Commerce Department will release the third-quarter GDP report at 8:30 a.m. on Friday, a little more than a week before the election in which President Barack Obama is trying to fend off Republican challenger Mitt Romney.


Since climbing out of the 2007-09 recession, the economy faced a series of headwinds from high gasoline prices to the debt turmoil in Europe and, lately, fears of U.S. government austerity. It has struggled to exceed a 2 percent growth pace and remains about 4.5 million jobs short of where it stood when the downturn started.


Consumers appear, however, to have largely shrugged off the impending sharp cuts in government spending and higher taxes, which are due at the start of the year absent congressional action. Indeed, they went on a bit of a shopping spree as the quarter wound down, buying a range of goods — including automobiles and Apple Inc’s iPhone 5.


Consumer spending, which accounts for about 70 percent of U.S. economic activity, is expected to have grown at a rate of at least 2 percent in the third quarter after increasing at a 1.5 percent pace in the prior period.


CAUTIOUS ON SPENDING


High stock prices and firming house values have made households a bit more willing to take on new debt, supporting consumer spending. A mild increase in wages has also helped.


But with about 23 million Americans either out of work or underemployed, there are fears the current pace of spending will not be sustained, especially if gasoline prices maintain their recent upward march and families get a higher tax bill in 2013.


“We remain cautious on consumer spending as real disposable income growth remains weak and we could see some pullback over concerns on the fiscal cliff and potentially higher tax rates next year,” said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.


The so-called fiscal cliff refers to automatic tax hikes and government spending cuts that will drain about $ 600 billion out of the economy next year absent congressional action.


Fiscal cliff fears have already hammered business spending, which is expected to have contracted in the third quarter for the first time since the first three months of 2011.


Much of the drag in business investment, which had been a source of strength for the economy, is expected to come from weak outlays on equipment and software.


Spending on nonresidential structures is also expected to have contracted after five straight quarters of growth.


In contrast, home building is expected to have posted double-digit growth, thanks in large part to the Federal Reserve’s ultra accommodative monetary policy stance, which has driven mortgage rates to record lows.


Inventories could also be a source of growth in the third-quarter, but they are a bit of a wild card.


A drought in the country’s Midwest has decimated grain and corn crops. In the second quarter, the drought reduced farm inventories. But nonfarm businesses might have been reluctant to add to much to their stocks given the uncertain domestic outlook.


Government spending is expected to have been a drag on growth for a ninth straight quarter.


In addition, slowing global demand, particularly weakness in Europe and China, probably undercut U.S. exports. That likely left a trade deficit that weighed on GDP growth.


(Reporting by Lucia Mutikani; Editing by Tim Ahmann and Neil Stempleman)


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Lull in fighting between Israel, Gaza militants
















JERUSALEM (AP) — A flare-up in fighting between Israel and militants from Gaza’s ruling Hamas movement has subsided.


Both sides say the government in Egypt helped to restore calm.












Israeli defense official Amos Gilad told Army Radio on Thursday that Egyptian security forces have “a very impressive ability” to convey to the militants that it is in their “supreme interest not to attack.”


Hamas spokesman Ayman Taha says Egypt conveyed Israel’s desire to contain the violence. He says Hamas told Egyptian that militants would cease fire if Israel would.


The Israeli military says militants haven’t attacked southern Israel since Wednesday night. It says the military hasn’t struck Gaza since Wednesday morning.


Militants fired some 80 rockets and mortars at Israel on Wednesday and Israeli aircraft struck four times.


Middle East News Headlines – Yahoo! News



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Cultural historian, author Jacques Barzun dies
















Jacques Barzun, a pioneering cultural historian, reigning public intellectual and longtime Ivy League professor who became a best-selling author in his 90s with the acclaimed “From Dawn to Decadence,” has died. He was 104.


Barzun, who taught for nearly 50 years at Columbia University, passed away Thursday evening in San Antonio, where he had lived in recent years, his son-in-law Gavin Parfit said.












Praised by Cynthia Ozick as among “the last of the thoroughgoing generalists,” the tall, courtly Barzun wrote dozens of books and essays on everything from philosophy and music to baseball and detective novels.


In 2000, he capped his career with “From Dawn to Decadence,” a survey of Western civilization from the Renaissance to the end of the 20th century. The length topped 800 pages, and the theme was uninspiring — the collapse of traditions in modern times — yet it received wide acclaim from reviewers, stayed on best-seller lists for months and was nominated for the National Book Award and the National Book Critics Circle prize.


Even the Rolling Stones’ Keith Richards said he was reading it.


“The whole thing is a surprise, because scholarship is not exactly the thing people run after these days, or perhaps at any time,” Barzun told The Associated Press in 2000.


Along with Lionel Trilling, Dwight Macdonald and others, the French immigrant was a prominent thinker during the Cold War era, making occasional television appearances and even appearing in 1956 on the cover of Time magazine, which cited him as representing “a growing host of men of ideas who not only have the respect of the nation, but who return the compliment.”


In 2003, President Bush awarded him a Presidential Medal of Freedom, the nation’s highest civilian honor, praising Barzun as “a thinker of great discernment and integrity. … Few academics of the last century have equaled his output and his influence.” In 2010, he received a National Humanities Medal.


Barzun had first-hand knowledge of much of the 20th century and second-hand knowledge of a good part of the 19th century. His great-grandmother, born in 1830, would give him chocolate and tell him stories, an experience that helped inspire him to become a historian.


A scholar’s son, Barzun was born in Creteil, France in 1907 and grew up in a household where Modernism was the great subject and visitors included Jean Cocteau, Ezra Pound and Guillame Apollinaire, upon whose knee he once sat. But World War I drove the family out of the country and across the ocean to the United States.


“The outbreak of war in August 1914 and the nightmare that ensued put an end to all innocent joys and assumptions,” Barzun later wrote. “By the age of ten — as I was later told — my words and attitudes betrayed suicidal thoughts; it appeared that I was ‘ashamed’ to be still alive.”


Reading consoled him, especially “Hamlet,” but he never recovered his early “zest for life.” In 1990, he defined himself as a “spirited” pessimist, explaining that he retained a “vivid sight of an earlier world, soon followed by its collapse in wretchedness and folly.”


Having learned English in part by reading James Fenimore Cooper, Barzun entered Columbia as an undergraduate at age 15 and was in his early 20s when the school hired him as an instructor in the history department. He remained with Columbia until his retirement, in 1975, and would be long remembered for the “Colloquium on Important Books” he taught with Trilling, with one former student calling Barzun “a towering charismatic figure who aroused the kind of fierce loyalties that the medieval masters must have.”


Allen Ginsberg, another Barzun student, once joked that his former professor was a master of “politeness.”


Barzun’s greatest influence was on the writing of cultural history; he helped invent it. As a student at Columbia he was among the first to integrate the narration of wars and government with the evolution of art, science, education and fashion.


“It was partly my upbringing, being among a group of artists of every kind,” he told the AP. “When I became interested in history, it seemed that social and cultural elements were perfectly real things that existed as forces. Diplomacy and force of arms were treated as the substance of history, and there was this other realm missing.”


“From Dawn to Decadence,” summing up a lifetime of thinking, offered a rounded, leisurely and conservative tour of Western civilization, with numerous digressions printed in the margins. Barzun guided readers from the religious debates of the Reformation to the contemporary debates on beliefs of any kind.


“Distrust (was) attached to anything that retained a shadow of authoritativeness — old people, old ideas, old conceptions of what a leader or a teacher might do,” he wrote of the late 20th century.


Barzun told the AP in 2003 that he remembered coming to the United States after World War I and finding a country that lived up to its own happy, informal reputation. “It was openhearted, amiable and courteous in manner, ready to try anything new,” he said. “But many of those things have gone to pieces, for understandable reasons.”


He contributed to such magazines as Harper’s and The New Republic and he published more than 30 books, notably “Teacher in America,” a classic analysis of education and culture. In the early 1950s, he and Trilling helped found the Readers’ Subscription Book Club, a highbrow response to the Book-of-the-Month Club that lasted 12 years.


Barzun also edited many books, including a compilation of short detective stories, and wrote a memorable essay on baseball, in which he advised that “Whoever wants to know the heart and mind of America had better learn baseball.” Those words eventually made it to the Baseball Hall of Fame in Cooperstown, N.Y., for which Barzun later autographed a bat celebrating his 100th birthday.


Barzun had three children with his first wife, Marianna Lowell, who died in 1978. He married Marguerite Davenport two years later. He also is survived by 10 grandchildren and eight great-grandchildren, according to his daughter, Isabel Barzun.


“He was a gentleman. He was a scholar. He was refined, he was kind. He was enormously generous in spirit,” said Parfit, his son-in-law. “He was one of a kind.”


___


Associated Press writers Michelle L. Price in Phoenix and Nicole Evatt in New York contributed to this report.


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Apple iPad sales disappoint, Street eyes the holidays
















SAN FRANCISCO (Reuters) – Apple Inc delivered a second straight quarter of disappointing results and iPad sales fell well short of Wall Street’s targets, marring its record of consistently blowing past investors’ expectations.


Shares in the world’s most valuable technology company briefly dipped to levels not seen since the start of August, after it delivered a 27 percent rise in fourth-quarter revenue and a 24 percent increase in earnings.












The numbers, while in line with expectations, lacked the positive surprises that investors have grown used to, and came after Apple undershot revenue targets in the previous quarter. Its shares bounced back after CEO Tim Cook told analysts on a conference call that the latest iPhone 5 was heavily backlogged but the company had mostly worked out kinks in its supply chain.


Apple shipped 26.9 million iPhones in the last quarter, just ahead of analysts’ predictions, but iPad sales of 14 million were well below lowered forecasts for the tablet as the economy remained weak and consumers awaited the iPad mini, which will hit store shelves next month. South Korean rival Samsung Electronics Co sold 56.3 million smartphones in the quarter, according to research firm IDC, giving it 31.3 percent global market share, more than double that of Apple.


FEVERED COMPETITION


Analysts say the real test for Apple will come during the crucial year-end holiday shopping season, when competition will reach fever-pitch against new gadgets from Amazon.com Inc, Google Inc and Microsoft Corp.


“Going into earnings we were wondering if the slowing economy will catch up with Wall Street, and it has,” said Channing Smith, co-manager of the Capital Advisors Growth Fund.


“Apple is very well positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative, but that’s not surprising. Err on the side of caution is a proven formula.”


Apple heads into the current quarter after refreshing almost all of its product lines, including introducing an upgraded, fourth-generation full-sized iPad. The December quarter will show how well consumers respond to its latest gamble – the iPad mini – which goes on sale on November 2.


Quarterly revenue in China, Apple’s second-largest market, rose 26 percent, and jumped nearly 80 percent to $ 23.8 billion over the full year, contributing 15 percent of Apple’s total, Cook told analysts. Apple plans to launch the iPhone 5 in China in December, hoping to staunch market share loss in what is set to become the world’s largest smartphone market this year.


Apple’s China smartphone market share almost halved to 10 percent in April-June as buyers waited for the iPhone 5.


ONE WEEK LESS


For the December quarter, Apple forecast revenue of $ 52 billion, below the average estimate of $ 55 billion, according to Thomson Reuters I/B/E/S. It expects margins of 36 percent, far lower than analysts’ expected 43 percent.


Chief Financial Officer Peter Oppenheimer mostly attributed the lower margin and conservative guidance to a combination of a stronger dollar, higher costs associated with new products, and the fact that Apple’s next fiscal quarter has one less week than the same period a year ago.


Apple’s stock was holding steady at $ 609.40 in extended trade after flirting with the $ 600 level. The shares had ended regular trade at $ 609.54.


Supply constraints holding up sales of the iPad and iPhone dominated discussions between analysts and Apple executives during the post-results conference call. Apple had struggled to deliver large quantities of the iPhone 5 since its launch in late September, with the waitlist for the device at one point stretching to three weeks in some regions.


“Our supply output is significantly higher than it was earlier in October,” Cook said, referring to the iPhone 5. “And I’m confident we’ll be able to supply quite a few during the quarter.”


CAR THAT FLIES AND FLOATS


Cook also opined on Microsoft’s new Windows 8-based Surface tablet that will hit stores early on Friday.


“I haven’t personally played with the Surface yet, but what we’re reading about it, is that it’s a fairly compromised, confusing product,” he said. “I suppose you could design a car that flies and floats, but I don’t think it would do all of those things very well.”


Despite the lackluster fourth quarter, Apple put up big numbers for the year, ending its fiscal 2012 with a 45 percent increase in revenue to $ 156.5 billion, while net income was up 61 percent at $ 41.7 billion.


For the final fiscal quarter, it posted net income of $ 8.2 billion, or $ 8.67 a diluted share, on revenue of $ 35.96 billion, versus $ 6.6 billion, or $ 7.05 a share, a year earlier. Analysts had expected on average that Apple would earn $ 8.75 per share.


Apple ended the quarter with $ 121.3 billion in cash and securities, of which $ 83 billion was offshore.


(Additional reporting by Melanie Lee in SHANGHAI; Editing by Richard Chang, Edmund Klamann and Ian Geoghegan)


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China passes law to curb abuse of mental hospitals
















BEIJING (AP) — China‘s legislature on Friday passed a long-awaited mental health law that aims to prevent people from being involuntarily held and unnecessarily treated in psychiatric facilities — abuses that have been used against government critics and triggered public outrage.


The law standardizes mental health care services, requiring general hospitals to set up special outpatient clinics or provide counseling, and calls for the training of more doctors.












Debated for years, the law attempts to address an imbalance in Chinese society — a lack of mental health care services for a population that has grown more prosperous but also more aware of modern-day stresses and the need for treatment. Psychiatrists who helped draft and improve the legislation welcomed its passage.


“The law will protect the rights of mental patients and prevent those who don’t need treatment from being forced to receive it,” said Dr. Liu Xiehe, an 85-year-old psychiatrist based in the southwestern city of Chengdu, who drafted the first version of the law in 1985.


“Our mental health law is in line with international standards. This shows the government pays attention to the development of mental health and the protection of people’s rights in this area,” Liu told The Associated Press by phone.


Pressure has grown on the government in recent years after state media and rights activists reported cases of people forced into mental hospitals when they did not require treatment. Some were placed there by employers with whom they had wage disputes, some by their family members in fights over money, and others — usually people with grievances against officials — by police who wanted to silence them.


The law states for the first time that mental health examinations and treatment must be conducted on a voluntary basis, unless a person is considered a danger to himself or others. Only psychiatrists have the authority to commit people to hospitals for treatment, and treatment may be compulsory for patients diagnosed with a severe mental illness, according to the law.


Under the law, police still may send people for diagnosis — a common practice in many countries. Significantly, the law gives people who feel they have been unnecessarily admitted into mental health facilities the right to appeal.


Though questions remain over how the law will be enforced and whether sufficient government funding will be provided to enable the expansion of services, psychiatrists said the passage of the legislation marked a milestone


“It’s very exciting. I honestly believe this will start a new trajectory,” said Dr. Michael Phillips, a Canadian psychiatrist who has worked in China for nearly three decades and now heads a suicide research center in Shanghai.


Phillips said the biggest change for the psychiatric system is the curb on involuntary admissions. At least 80 percent of hospital admissions are compulsory, he said.


The expansive scope of the law — covering treatment, stigma prevention, admissions and other areas — made it “revolutionary,” he added.


___


Follow Gillian Wong on Twitter: http://twitter.com/gillianwong


Health News Headlines – Yahoo! News



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