TSX closes lower as U.S. budget fears linger

TORONTO (Reuters) – Canada‘s main stock index ended down after a quiet, shortened Christmas Eve trading session on Monday, as oil prices extended their retreat on worries about U.S. ‘fiscal cliff’ budget measures, pulling energy shares lower.

With U.S. lawmakers suspending talks on the spending cuts and tax increases that could send the economy back into recession until after Christmas, the market was cautious.

Rick Hutcheon, President and Chief Operating Officer at RKH Investments, said uncertainty around the U.S. fiscal cliff was weighing on the market.

“We have to get past the fiscal cliff. That’s obviously a negative,” he said.

World oil prices fell for a third straight session as the budget dispute threatened to hurt demand by the United States – the world’s top oil consumer. Energy was the most influential negative sector, closing down 0.7 percent.

There is no set date for budget talks to resume, and the two sides have only a few days between Christmas and January 1, when $ 600 billion in spending cuts and tax increases start to take effect.

But Hutcheon also cautioned that markets were quiet: “There is very little volume – you can’t read too much into the transactions that are occurring today.”

“It’s extremely quiet,” said John Kinsey, Portfolio Manager at Caldwell Securities. “There’s just nobody around.”

Kinsey, like most political experts and economists, expects a U.S. budget deal of some sort will come after Christmas.

“They have been through this before and they usually just kick the can down the road,” he added. “Something’s going to get down, not probably what I would like to see, but something is always done.”

The Toronto Stock Exchange’s S&P/TSX composite index <.gsptse> closed down 0.12 percent, or 14.90 points, at 12,370.80.</.gsptse>

Canadian and U.S. equity markets closed early, shutting at 1 p.m. EST (1800 GMT) ahead of Tuesday’s Christmas holiday. Canadian markets will remain closed through Wednesday’s Boxing Day holiday.

Financial stocks closed little changed, up 0.03 percent. The materials sector edged down 0.13 percent as copper slipped. The Thomson Reuters-Jefferies CRB Index <.trjcrb>, which tracks commodity prices, was down 0.35 percent. </.trjcrb>

Canada Life, a unit of insurer Great-West Lifeco Inc , is close to a deal for state-rescued insurer Irish Life, a source familiar with the talks said on Sunday. On Monday, Great-West rose 0.5 percent to C$ 24.30.

Chevron Corp’s Canadian unit said it would buy a 50 percent stake in the Kitimat liquefied natural gas project and the proposed Pacific Trail Pipeline from EOG Resources Inc and Encana Corp . Encana fell 2.3 percent to C$ 19.66.

After Friday’s close, SNC-Lavalin Group Inc said a client had given notice that it would terminate an engineering, procurement and construction contract. But SNC said it did not anticipate a material impact on fourth-quarter earnings. Its shares closed up 0.8 percent at C$ 40.21.

Outside the index, Sears Canada Inc rose 1.6 percent to C$ 10.83 after it said its chief financial officer would resign effective January 4. The company, majority-owned by Sears Holdings Corp is pushing for a turnaround after several quarters of precipitous declines in same-store sales.

($ 1=$ 0.99 Canadian)

(Reporting by Allison Martell; editing by Peter Galloway, G Crosse)

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Bolivia’s Morales visits Cuba after Chavez surgery

HAVANA (AP) — Bolivian President Evo Morales has made a lightning trip to Havana where key ally Hugo Chavez is convalescing after cancer surgery.

Morales did not speak to foreign journalists during his weekend visit. Cuban state-run media didn’t confirm that he visited Chavez, but said he came “to express his support” for the Venezuelan president. The Cuban government had invited media to cover Morales’ arrival Saturday and departure Sunday but withdrew the invitation with no explanation.

Photos released by Cuban media showed President Raul Castro greeting Morales at the airport in Havana.

Morales aides said Monday he planned to make a statement later about Chavez.

Chavez underwent on Dec. 11 his fourth cancer-related operation since last year, two months after winning reelection to a six-year term. Venezuelan officials say his condition is stable.

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Top Comments: Mashable Readers React to Instagram’s Terms of Service

Monday, Dec. 17: Instagram Updates TOS

Readers had varying reactions to Instagram‘s updates. Some felt that they were fair: If you don’t like the terms of service, argued some users, you have the option not to use the service. Others were far more outraged.

Click here to view this gallery.

[More from Mashable: Why xkcd Is Wrong About Instagram]

This week, the top comments on Mashable brought into focus both the state of the world around us and the constantly changing nature of our virtual lives. Our readers launched into debate when Instagram appeared to be making drastic changes to its privacy policy. Based on the wording of Instagram’s new Terms of Service, photographers worried that they may no longer own the rights to their own work, and that their photos could be used in advertising. As Mashable‘s Chris Taylor put it, the TOS as they stood early this week basically “signed your life away.”

Over the course of the week, we saw new privacy settings for Instagram users revealed, officially commented upon (while remaining unchanged) and then finally rescinded and apologized for.

[More from Mashable: Instagram Updates Its Terms of Service Based on User Feedback]

The Instagram controversy proved that users are, in fact, paying attention to the often glossed-over Terms of Service established by their favorite apps, and that a company’s response to public outcry has the potential to make or break their service.

Mashable‘s senior tech analyst, Christina Warren, compared Instagram’s actions to Netflix’s in the summer of 2011. Outraged users proved they weren’t bluffing about abandoning Instagram: Celebrities and power users threatened to quit the network, and downloads of rival apps such as Flickr and Aviary soared in the days surrounding the controversy. What was your take on this week’s events, involving photo-sharing and users’ right to ownership?

Even more commented upon, though less debated, were two Mashable stories that examined social media backlash in the wake of a tragedy. In the days following the horrific shooting at Sandy Hook Elementary in Newtown, Connecticut, we found ourselves contemplating, both online and off, the horrific nature of the event. Unsurprisingly, the two most-commented-upon stories this week both centered on Sandy Hook’s impact on the social web. Our commenters sounded off on the offensive tweets sent during Obama’s Newtown speech, as well as on the viral post, “I Am Adam Lanza’s Mother.”

Other stories our commenters flocked to this week included a viral video of a golden eagle snatching a baby (later proved to be a hoax), the hacking of the Westboro Baptist Church by hacktivist group Anonymous and the appalling revelation that Facebook’s interns make more money than all of us. We also prepared for the end of the world as brought forth by the Mayan Apocalypse — which never did happen.

What were your favorite moments on Mashable this week? You can be part of the discussion by signing up with one of your social networks, and joining the conversation on our site. Next week, your voice could be featured in the Top Comments.

Happy holidays to our community!

Image courtesy of flickr, Marc Wathieu

This story originally published on Mashable here.

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South Africa’s Mandela responding to treatment in hospital

JOHANNESBURG (Reuters) – Former South African president and anti-apartheid hero Nelson Mandela, who is 94, continues to respond to treatment two weeks after being taken to hospital, the government said on Saturday.

The Nobel Peace laureate, who has been treated for a lung infection and gallstones after being hospitalized on December 8, was visited by South African President Jacob Zuma, presidency spokesman Mac Maharaj said in a statement.

“Madiba has been in hospital since the 8th of December and continues to respond to treatment,” Maharaj said, referring to Mandela by his clan name.

“President Zuma assured him of the love and support of all South Africans, young and old, and the whole world.”

The country’s first black president was admitted to hospital in Pretoria earlier this month after being flown from his home village of Qunu in a remote part of the Eastern Cape province.

It seems likely that Mandela, admired at home and abroad as a global icon against injustice for his lifetime of struggle against minority white rule, will end up spending Christmas in the hospital.

On Thursday, following his re-election as leader of the ruling African National Congress (ANC), Zuma reported Mandela had “steadily improved”.

Zuma said then the former president was receiving “the best care possible” but recalled that Mandela was “at an age where medical challenges require extraordinary care”.

He praised Mandela as an “unparalleled fighter”.

In an interview broadcast on Saturday but recorded a day earlier, the ANC’s newly elected Deputy President Cyril Ramaphosa said he believed Mandela was “on the mend”.

Mandela spent 27 years in apartheid prisons, including 18 years on the windswept Robben Island off Cape Town. He was released in 1990 and went on to use his prestige to push for reconciliation between whites and blacks as the bedrock of the post-apartheid “Rainbow Nation”.

He stepped down in 1999 after one term in office and has been largely removed from public life for the last decade.

Mandela spent time in a Johannesburg hospital in 2011 with a respiratory condition, and again in February this year because of abdominal pains. He was released the following day after a keyhole examination showed there was nothing serious.

He has since spent most of his time in Qunu.

His fragile health prevents him from making any public appearances in South Africa, although he has continued to receive high-profile domestic and international visitors, including former U.S. president Bill Clinton in July.

(Reporting by David Dolan; Editing by Pascal Fletcher)

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Former President George H.W. Bush remains hospitalized

(Reuters) – Former President George H.W. Bush, who has been hospitalized for a month undergoing treatment for bronchitis, may not be released from a Houston hospital in time to celebrate Christmas at home as doctors had hoped.

Bush, 88, remained in stable condition and doctors were optimistic he would make a full recovery, George Kovacik, a spokesman at Methodist Hospital, said in an emailed statement on Sunday.

But doctors were being “extra cautious” with his care and no discharge date had been set, the statement said. Earlier this month, Kovacik said doctors expected Bush would be able to spend Christmas at home with his family.

“His doctors feel he should build up his energy before going home,” the statement said.

Bush, the 41st president and a Republican, took office in 1989 and served one term in the White House. The father of former President George W. Bush, he also is a former congressman, U.N. ambassador, CIA director and vice president for two terms under Ronald Reagan.

(Reporting by Kevin Gray; Editing by Daniel Trotta and Vicki Allen)

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Norway minister’s EU exit warning

23 December 2012 Last updated at 09:08 ET

Norway’s foreign minister has urged the UK to assess the advantages of staying in the European Union, rather than consider leaving.

Norway is not in the EU but has access to the single market. UK Eurosceptics use it as a model for how the UK could relate to the EU from outside.

But Foreign Minister Espen Eide said Oslo had “limited scope for influence”.

“We are not at the table when decisions are made,” he told Radio 4′s The World This Weekend.

Mr Eide is pro-EU, though Norwegian voters have twice rejected the chance to join the EU in referendums in 1972 and 1994.

Sir Nigel Sheinwald, a former UK ambassador to the US and to the European Union, said: “The issue is – do you want to be part of the single market? All the economic indicators are that the UK needs to be.

“But [the Norwegians] have no role in negotiations… they have no impact, no influence and there’s no accountability. So this is regulation without representation.

“It’s the first thing the UK needs to decide, whether it wants to be associated with the single market, from the inside or the outside.

“If on the outside, both the Swiss and the Norwegian models give you no actual impact on the substance of what’s agreed.”

Conservative MEP Daniel Hannan said he was “not aware of any British Eurosceptics who are arguing that we should precisely replicate the Norwegian model”.

He added: “What we’re after is something a bit more like what the Swiss have, but actually I think we could get better terms than either Norway or Switzerland.”

Prime Minister David Cameron has consistently said he supports Britain’s continued membership.

He has hinted, however, at a possible referendum to allow the British people the opportunity to give their “fresh consent” on the issue.

Mr Cameron is expected to give a much delayed speech on Europe early in the new year.

The World This Weekend was broadcast on Radio 4 at 13:00 GMT on Sunday.

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Syria jets kill tens as international envoy visits

BEIRUT (AP) — A government airstrike on a bakery in a rebel-held town in central Syria killed more than 60 people on Sunday, activists said, casting a pall over a visit by the international envoy charged with negotiating an end to the country’s civil war.

The strike on the town of Halfaya left scattered bodies and debris up and down a street, and more than a dozen dead and wounded were trapped in tangled heap of dirt and rubble.

The attack appeared to be the government response to a newly announced rebel offensive seeking to drive the Syrian army from a constellation of towns and village north of the central city of Hama. Halfaya was the first of the area’s towns to be “liberated” by rebel fighters, and activists saw Sunday’s attack as payback.

“Halfaya was the first and biggest victory in the Hama countryside,” said Hama activist Mousab Alhamadee via Skype. “That’s why the regime is punishing them in this way.”

The total death toll remained unclear, but the Britain-based Syrian Observatory for Human Rights said more than 60 people were killed. That number is expected to rise, it said, because some 50 of those wounded in the strike are in critical condition.

Amateur videos posted online Sunday showed residents and armed rebels rushing to the scene. One stopped to cover a mound of human flesh lying in the street with his coat.

More than a dozen dead or seriously wounded people lay in the street near a simple, concrete building, some in puddles of blood. Near its front wall, bodies jutted from a pile of dirt and rubble on the sidewalk.

Rebels screamed in distress while trying to extract the bodies, while others carried away the wounded.

It was unclear from the videos if the building was indeed a bakery. Nearly all the dead and wounded appeared to be men, some wore camouflage, raising the possibility that the jet had targeted a rebel gathering.

For the past week, rebels have been launching attacks in the area, most notably in the nearby village of Morek, where they hope to seize control of the country’s main north-south highway, preventing the regime from getting supplies to its forces further north in the provinces of Idlib and Aleppo.

On Saturday, one rebel group threatened to storm two predominantly Christian towns nearby if their residents did not “evict” government troops they said were using them as a base to attack nearby areas.

The activist accounts could not be independently verified due to restrictions on reporting in Syria. The Syrian government does not respond to requests for comment on its military activities.

The attack coincided with the start of a two-day visit by Lakhdar Barhimi, who represents the U.N. And the Arab League, to meet with top Syrian officials.

Brahimi has made little apparent progress toward ending Syria’s crisis since assuming his post in September, mostly because the sides appear more interested in fighting it out than in sitting down for talks.

Brahimi did not speak publicly upon arriving in Damascus for a two-day mission, and it was unclear whether he would present new ideas to end the war. His trip appeared troubled from the start.

Instead of flying directly to Syria as he had on previous visits, Brahimi landed in Beirut and traveled to the Syrian capital by land because of fighting near the Damascus airport, Lebanese officials said.

The Lebanese officials, who spoke on condition of anonymity because they were not authorized to brief reporters, said Brahimi was expected to meet Syria’s foreign minister later Sunday and President Bashar Assad on Monday.

The trip is Brahimi’s third since taking the job following the resignation of former U.N. Secretary General Kofi Annan after both sides disregarded a cease-fire he brokered in April.

While not advancing a comprehensive peace plan, Brahimi has called on the sides to negotiate a solution.

The security situation has gotten notably worse for the regime since his last visit, with rebels storming a number of military bases and seizing valuable munitions. Russia, Assad’s most powerful international backer, also appears to have changed his assessment of Assad’s strength, as top officials say they do not seek to preserve his regime, while still calling for a negotiated solution.

Still, neither side appears willing to talk.

In a lengthy Sunday news conference, Syrian Information Minister Omran al-Zoubi repeated the Syrian government’s line that it is fighting terrorist groups backed by foreign powers who seek to destroy Syria.

Al-Zoubi said the government was willing to engage in dialogue but said the other side wasn’t.

“We speak of dialogue with those who believe in national dialogue,” he said. “But those who rejected dialogue in their statements and called for arms and use of weapons, that’s a different issue. They don’t want dialogue.”

Rebel groups refuse to talk to Assad, saying too many people have died for him to be considered part of the solution.

Violence raged elsewhere in the country on Sunday. Anti-regime activists reported government airstrikes on suburbs east of the capital and the northern province of Aleppo.

Airstrikes on the town of al-Safira, south of Aleppo, killed 13 people, including a mother and five daughters from one family, a local activist named Hussein said via Skype. He gave only his first name for fear of retribution.

The town lies next to a large military complex with factories and artillery and air defense bases. Hussein guessed the airstrike was payback for recent rebel attacks on the complex.

“The strikes don’t hit the fighters at all,” he said. “They want to take revenge on the civilians.”

The Observatory said at least 10 rebels and an unknown number of government troops were killed in clashes in Afreen, near Aleppo, Syria’s largest city, as rebels sought to storm an army base there.

Anti-regime activists say more than 40,000 people have been killed since Syria’s crisis began in March 2011.

___

Associated Press writer Albert Aji contributed reporting from Damascus.

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Massive PC, Console Game Discounts Ring in Holiday Season

Black Friday, the day right after Thanksgiving, is normally the day associated with electronics sales. And while the proponents of “Cyber Monday” and “Small Business Saturday” have tried to get in on the action, it’s still common knowledge that Thanksgiving weekend is the best time to upgrade your PC or console game arsenal. Right?

Not according to online game retailers. Discounts of up to 80 percent off a game’s retail price are taking place across the web, especially in online stores which offer games in the form of digital downloads (which cost nothing to make extra copies of). Here’s a look at just a few of the sales going on right now, for Windows and Linux PCs, Macs, game consoles, and mobile devices.

Steam (Windows, Linux, Mac)

The annual Steam Holiday Sale is under way, and it’s not just blowing hot air. Complete collections of every Steam game from publishers including Valve are on sale for around the price of one retail title, and individual games can be bought from each bundle for only a few dollars. Each day new sales are available, and most of them are massive, percentage-wise. They’re tied to a personal Steam account (which will always be linked to the original name they were created with), but can be bought as gifts for others.

Also check out: Amazon.com’s PC download sales, many of which are fulfilled through Steam and are discounted about as much. Amazon’s lineup also includes many casual games, of the “$ 10 store discount rack” variety.

Humble Indie Bundle 7 (Windows, Linux, Mac)

The Humble Bundle crew has been offering cross-platform, name-your-own-price bundles of indie games for several years now, and their seventh numbered offering is timed right for the holiday season. Bundles are giftable, the games can be played on Steam, and you can choose how much of your purchase price goes to game developers and how much goes to select charities.

PlayStation Network (PS3, PSP, Vita)

Console gamers aren’t being left out. The PSN Holiday Essentials sale is putting “more than 40 titles” on sale over the next three weeks, with a new selection available every week and even lower prices available to PlayStation Plus members.

Also check out: The Xbox Live Countdown to 2013 sale, with a “Daily Deal” every day until the end of the year.

Other sales

Game publishers SEGA and Square-Enix are discounting many of their most popular titles. SEGA’s holiday sale includes PSN, Xbox Live, Android and iOS titles, with most of its mobile games selling for $ 0.99. Meanwhile, the Square-Enix Winter of Mobile sale page lists huge discounts on iPhone and iPad games, while Android Police blogger Jeremiah Rice has put together a list of which Square-Enix Android games are on sale.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
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U.S. teen smoking declines to record low in 2012: study

(Reuters) – Cigarette smoking among American teenagers dropped to a record low in 2012, a decline that may have been partly driven by a sharp hike in the federal tobacco tax, researchers said on Wednesday.

An annual survey of about 45,000 students in the eighth, 10th and 12th grades found that the overall proportion of those saying they had smoked in the prior 30 days fell by just over a percentage point to 10.6 percent.

“A one percentage point decline may not sound like a lot, but it represents about a 9 percent reduction in a single year in the number of teens currently smoking,” Lloyd Johnston, the principal investigator in the study, said in a statement.

He said reductions on that scale can translate into the prevention of thousands of premature deaths and tens of thousands of cases of cancer and other serious disease.

More than 400,000 Americans are estimated to die prematurely each year as a result of cigarette smoking – the No. 1 cause of preventable U.S. deaths – and most smokers begin their habit as adolescents, experts say.

Healthcare advocates hailed Wednesday’s findings as evidence that higher cigarette taxes were paying off, combined with federal curbs on youth-oriented tobacco marketing and sales and a sweeping anti-smoking media campaign.

The researchers also cited the increase in federal cigarette taxes, raised by 62 cents a pack in 2009, as a likely contributing factor. The findings were part of an annual survey by University of Michigan researchers released by the National Institute on Drug Abuse.

Smoking rates fell for each of the individual age groups surveyed, most notably among eighth graders – from 6.1 percent in 2011 to 4.9 percent in 2012, the survey found.

Longer-term trends showed teen smoking rates dropping by about three-fourths among eighth graders, two-thirds among 10th graders and by half among 12th graders since a peak in the mid-1990s, researchers said.

One reason cited by experts is that the proportion of students who have ever tried smoking has declined sharply. Whereas nearly half of all eighth graders had tried cigarettes in 1996, just 16 percent had done so this year.

Teen attitudes toward smoking also continued to become more negative. For example, 80 percent of teens said they preferred to date nonsmokers in 2012.

But anti-tobacco advocates said their battle to stamp out teen smoking was far from over, noting that 17 percent of high school seniors still graduate as smokers.

Researchers singled out concerns over new forms of smokeless tobacco, including dissolvable products like Camel-branded “Orbs” and “Strips,” and a fine, moist form of snuff called snus (rhymes with “loose”), which users place under their upper lip.

They said a significant portion of older teens have experimented with small cigars and water pipes called hookahs, which are becoming popular among young adults.

“We cannot let our guard down when the tobacco industry still spends $ 8.5 billion a year – nearly $ 1 million ever hour – to market its deadly and addictive products and is pushing new products … that entice youth,” said Susan Liss, executive director for the Campaign for Tobacco-Free Kids.

(Writing by Steve Gorman; Editing by Cynthia Johnston and Stacey Joyce)

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Working-class neighborhood in Madrid wins “El Gordo” lottery

MADRID (Reuters) – Unemployed Spaniards in a highly indebted commuter town in the outskirts of Madrid celebrated with joy after sharing the top prize in “El Gordo“, the world’s biggest lottery.

The 200-year-old Christmas draw doled out more than 2.5 billion euros ($ 3.3 billion) in prizes, with a top individual prize of 4 million euros. The smallest ticket, known as a “decimo” wins a tenth of the prize and costs 20 euros.

Millions of Spaniards living through tough economic times had hoped to pocket part of “The Fat One” although spending in the Christmas lottery dipped heavily this year.

Winning in 2012 was particularly sweet, not just because Spain is suffering its second recession in three years and one in four of the workforce is jobless, but also because 2012 is the last year winners will pay no tax on their takings.

Spain’s centre-right government, which has introduced austerity measures this year to shrink its public deficit, ruled that from next year those who win over 2,500 euros will pay 20 percent to the state.

Javier Hernando, a middle-aged owner of a bar in Alcala de Henares, 35 km (20 miles) northeast of Madrid, said the prize would allow him to look at life differently, as European authorities press countries on the periphery of the euro zone to raise the age of retirement.

Luis, a 28-year-old unemployed electrician, said he would spend the money on buying a flat.

The lottery tickets are sold in thousands of official kiosks across Spain and local bars and shops often sell decimos. This year over 27 million individual prizes will be awarded.

The lottery, which dates back to 1812, is an important Christmas tradition in Spain, with many families, offices and bar regulars clubbing together to buy a full ticket for 200 euros.

Sales dipped 8 percent this year to 2.47 billion euros compared to a 0.5 percent drop in 2011.

“It is no wonder that sales have gone down taking into account the economic situation we are going through. We are in crisis, people are out of work and have no income,” said a spokeswoman for the National Lottery.

Those who did not win big in El Gordo can look forward to the El Nino lottery on January 6, or Epiphany, when Spaniards traditionally give presents to children. That lottery will award 840 million euros, though winners will have to pay tax. ($ 1 = 0.7555 euros)

(Reporting by Clare Kane and Jesus Aguado,; additional reporting by Iciar Reinlein and Silvio Castellanos; Editing by Stephen Powell)

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