Tunisia secures more loans as protests hit deprived town












TUNIS (Reuters) – Tunisia, struggling to ease economic difficulties that have provoked unrest since its democratic revolution, said on Wednesday it had secured more international lending to cover its 2013 spending.


Tunisia’s new, elected Islamist-led government has sought to revive the economy in the face of a decline in trade with the crisis-hit euro zone and disputes between secularists and hardline Salafi Islamists over the future direction of the North African Arab state.












At least 200 people were injured when Tunisians demanding jobs clashed with police on Tuesday and Wednesday in the city of Siliana in a region on the edge of the Sahara desert that has long complained of economic deprivation.


The state news agency TAP said Tunis had clinched a $ 500 million loan from the African Development Bank, after the World Bank approved a $ 500 million loan on Tuesday, and a government minister told Reuters finances were now in order for 2013.


“Next year our public expenditure is essentially covered, thanks also to lines of credit for a total of $ 1 billion from the World Bank and the African Development Bank,” Investment Minister Riad Bettaieb said on the sidelines of a meeting with a European Union business delegation.


“So we are not planning to ask for further international support from the International Monetary Fund (IMF),” he said.


But he said Tunisia could ask the IMF for a standby credit line worth $ 2.5 billion for 2014 and beyond. “We are considering asking the IMF for a precautionary line of credit to give a guarantee for our financing needs … around $ 2.5 billion.”


The loans, the World Bank’s second since the “Arab Spring” uprising that toppled autocrat Zain al-Abidine Ben Ali in January 2011, aim to support economic recovery by improving the business and financial sectors and reforming social services.


BLINDED BY BIRDSHOT


In Siliana on Wednesday, police fired tear gas and rubber bullets to disperse crowds who rallied for a second day.


A medic from Siliana Hospital who did not wish to named said more than 200 people had been injured in the clashes. A journalist from France 24 television told Reuters he and a colleague had been hospitalized for wounds from birdshot apparently fired by riot police.


State media said 17 people had been blinded by birdshot wounds to the eyes. Residents blocked the entrances to the city, setting tyres alight on roads.


Many protesters called for the resignation of local officials, saying the authorities had failed to release development funds for their region.


Iyed Dahmani, a politician from the Republican Party in the town, said the national guard – an interior ministry-run security force – had deployed tanks to help restore order.


Interior Minister Ali Larayed appeared on state television to call for calm. “I ask people in Siliana to calm down, to protest calmly and accept dialogue,” he said, accusing leftist politicians of inflaming the situation.


But state TV also showed Prime Minister Hamadi Jebali saying he would not remove the unpopular governor of the region: “I won’t accept sacking him; he will stay in place.”


Jebali has accused both Salafis and liberal elites of harming Tunisia’s economy and image through their conflict with each other. His Ennahda party has tried to present itself as a middle way between liberals and Salafis.


The protests are the fiercest since hardline Salafi Islamists attacked the U.S. embassy in Tunis in September over an anti-Islam film made in California. That violence left four people dead.


(Writing by Andrew Hammond)


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Rapper PSY wants Tom Cruise to go ‘Gangnam Style’












BANGKOK (AP) — The South Korean rapper behind YouTube’s most-viewed video ever has set what might be a “Mission: Impossible” for himself.


Asked which celebrity he would like to see go “Gangnam Style,” the singer PSY told The Associated Press: “Tom Cruise!”












Surrounded by screaming fans, he then chuckled at the idea of the American movie star doing his now famous horse-riding dance.


PSY’s comments Wednesday in Bangkok were his first public remarks since his viral smash video — with 838 million views — surpassed Justin Bieber‘s “Baby,” which until Saturday held the record with 803 million views.


“It’s amazing,” PSY told a news conference, saying he never set out to become an international star. “I made this video just for Korea, actually. And when I released this song — wow.”


The video has spawned hundreds of parodies and tribute videos and earned him a spotlight alongside a variety of superstars.


Earlier this month, Madonna invited PSY onstage and they danced to his song at one of her New York City concerts. MC Hammer introduced the Korean star at the American Music Awards as, “My Homeboy PSY!”


Even President Barack Obama is talking about him. Asked on Election Day if he could do the dance, Obama replied: “I think I can do that move,” but then concluded he might “do it privately for Michelle,” the first lady.


PSY was in Thailand to give a free concert Wednesday night organized as a tribute to the country’s revered King Bhumibol Adulyadej, who turns 85 next month. He paid respects to the king at a Bangkok shopping mall, signing his name in an autograph book placed beside a giant poster of the king. He then gave an outdoor press conference, as screaming fans nearby performed the pop star’s dance.


Determined not to be a one-hit wonder, PSY said he plans to release a worldwide album in March with dance moves that he thinks his international fans will like.


“I think I have plenty of dance moves left,” he said, in his trademark sunglasses and dark suit. “But I’m really concerned about the (next) music video.”


“How can I beat ‘Gangnam Style’?” he asked, smiling. “How can I beat 850 million views?”


___


Associated Press writer Thanyarat Doksone contributed to this report.


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Welcome to the Twisted Age of the Twitter Death Threat












Never believe anyone who tells you that the Internet is all nice or all terrible. Just like real life, there are good people and bad ones here. The majority of people behave badly occasionally and decently most of the time. Yes, there are some truly horrible people lurking and behaving in ways consistent to their form, but the thing is, we’re complicated creatures, online and off. So I don’t buy into theories that the Internet is all nice anymore than I believe all commenters are trolls. Still, there is something worrisome going on online, and if you were the Chicken Little type (which none of us here are, obviously), you might be covering your head and hiding from the Twitterverse. It’s this matter of death threats online. 


RELATED: After His Vulgar Assault on Jenny Johnson, Chris Brown Quits Twitter












The most recent example of this, of course, is the recent Chris Brown/Jenny Johnson nastiness. Brown has his share of on- and offline haters, but he has plenty of adamant supporters, too. This became apparent when Johnson, a comedian who’d been on a Twitter crusade of sorts against Brown since his physical attack on Rihanna, after a stream of tweets intended to shame/provoke the singer, finally hit pay-dirt with a response (other than Brown blocking her at one point). Over the weekend, Chris Brown tweeted: “I look old as fuck! I’m only 23,” to which Johnson tweeted, “I know! Being a worthless piece of shit can really age a person.” (That tweet’s been retweeted by Johnson followers more than 7,000 times.)


RELATED: The Internet–Not All It’s Cracked Up to Be


You probably know what happened next, even if you don’t: After a pretty gross back-and-forth that doesn’t make either side look great, Brown deactivated his account. But his followers started to pile on, threatening Johnson with—what else?—death. There is no irony here about the followers of a guy who beat his girlfriend offering up a stream of brutish death threats; it is only sad. 


RELATED: Is Twitter for Girls?


Enter the age of the online death threat. It’s scary, yeah, because it’s a death threat. Humans rarely like being threatened with an end to their basic essence, no matter the delivery method for that announcement. And yet, on Twitter, this becomes such a weird, surreal concept: It’s deeply impersonal (these people don’t even know each other and probably never will; NONE of them know each other, likely), fueled by a false kind of rage spawned by the way the Internet works (one side gets self-righteously mad, another side self-righteously madder, and repeat). Fortunately, in most cases, the threat is also incredibly unlikely to be fulfilled. That doesn’t make it pleasant. One might be prone to try to laugh away the kind of death threats Johnson received, from people she doesn’t know (people who don’t know Chris Brown either), who might not recognize her on the street, who most likely live nowhere near where she does and probably also don’t plan to actually kill her. Yet a death threat is pretty much the ultimate “I hate you,” and it’s worth wondering, when “I hate you” doesn’t serve to deliver the message strongly enough and we start saying “I’m going to kill you”/”you deserve to die,” how far has humanity gone down some sick drain?


RELATED: Only Six Percent of Americans Use Twitter


As David Knowles writes for The Daily in a piece titled “Twitter Terror,” Johnson is hardly the first person to be threatened on Twitter. President Obama, Mitt Romney, Ellen Page, Tom Daley, and Taylor Swift can claim this dubious badge of fame, too. The list goes on. But before the little bird was the death-threat method of the year, death threats would arrive to famous people, politicians, and those in the public eye, particularly controversial figures, as a matter of course—on paper, perhaps by telephone, and in the movies, via the weird scrawlings or puzzle-piece letter constructions of madmen. Of course, there’s no handwriting to decipher on Twitter, there are only assumptions of power and education based on icons and followers, word choice and spelling, what the person says and has said, as well as their affiliations. But again, probably, the people threatening Jenny Johnson shouldn’t scare her (if you’re really going to try to kill someone and are dumb enough to publicize it on Twitter, that’s a clear benefit to your intended victim). If there’s anything to be afraid of, it’s this idea that death threats are this kind of new online norm. I think part of that fear, the fear that this is just a regular thing nowadays, is what subconsciously creates the need in us to assume a such a horrified shock-and-outraged position about such death threats. Knowles quotes digital media expert Jeanette Castillio as calling “the Twitterverse … a very uncivil place.” Is it any more uncivil than anywhere else, though? The Internet hardly created hate, or hate-speak, or bullying. Further, do we only increase the levels of that incivility by freaking out about what a bunch of random people are raging about behind the protection, and often anonymity, of Twitter?


RELATED: Friday’s Top Tweets


As Knowles writes, also, Twitter does have a rule against this sort of thing; people aren’t supposed to “publish or post direct, specific threats of violence against others.” Still, like everything online, there is too much information, and not enough time for comprehensive monitoring. Knowles adds, “A small percentage of violent tweets are investigated by police, but even then Twitter is reluctant to betray what it believes is a sacred duty to protect a user’s privacy.” 


That’s the other thing about online threats: They manage to be so incredibly cowardly, and an utterly ineffectual form of communication—until, suddenly, the media is paying attention to said threats and in some ways legitimizing them. I’m honestly not sure what the media’s role should be in acknowledging tweets of the sort that Brown and Johnson and Brown’s followers and Johnson exchanged. Sometimes it seems like that old “ignoring” tactic your mom taught you could work out to everyone’s benefit—and yet these things are bound to go viral; badly behaving celebrities are something TMZ taught us people want to know about. These things are also, when discussed calmly and rationally, fodder for good conversations about how we live now.


Like a rude comment, a Twitter death threat is a way of hiding in your comfy-safe basement in your comfy-safe boxers and saying really gross things to someone in the hopes that they will get upset. These people are bullying, or hope to bully. Which means we shouldn’t take the bait, a thing far more difficult to do than say. Turning the other cheek was hard in real life, too, and you never know, better safe than sorry. But more important than preventing “actual Twitter murders” (which I dare say and hope will not become the norm), it’s worth paying attention to this ratcheting up of the hate ante as a new kind of communication norm. A cynical person would say we no longer need to touch people, instead, we reach out to them online. We no longer need to talk on the phone, we simply tweet or email or text. We certainly don’t write letters, and we hardly write on paper. Instead we blog and Tumbl and Instagram and Facebook. And so, when we get angry, irrationally or otherwise, we take to those methods of communication to speak out, retaliate, vow revenge. The most worrisome thing about the Twitter death threat, I think, that if it’s just something people do now. I don’t want to be in the Age of the Twitter Death Threat. It makes me pretty nostalgic for the good old days of the handwritten love letter, actually. 


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‘Two and a Half Men’ actor not expected on set












NEW YORK (AP) — The teenage actor who stars in “Two and a Half Men” and called the CBS comedy “filth” may have some time before he faces the show’s producers.


Angus T. Jones wasn’t expected at rehearsal Tuesday because he is not going to be in the episode they are filming, according to a person close to the show who spoke on condition of anonymity because producers were not commenting publicly.












Jones, 19, has been on the show, which used to feature bad-boy actor Charlie Sheen and remains heavy with sexual innuendo, since he was 10 but says in a video posted online by a Christian church that he doesn’t want to be on it anymore.


“Please stop watching it,” Jones said. “Please stop filling your head with filth.”


The person familiar with the production schedule said Jones does not appear in either of the two episodes filming before the end of the year, so he wouldn’t be expected back at work until after the New Year.


His character has been largely absent because he has joined the Army.


CBS and producer Warner Bros. Television have not commented.


“Two and a Half Men” survived a wild publicity ride less than two years ago, when Sheen was fired for his drug use and publicly complained about the network and the show’s creator, Chuck Lorre.


Jones plays Jake, the son of Jon Cryer’s uptight divorced chiropractor character, Alan, and the nephew of Sheen’s hedonistic philandering music jingle writer, Charlie. Sheen was replaced by Ashton Kutcher, who plays billionaire Walden.


In the video posted by Forerunner Chronicles in Seale, Ala., Jones describes a search for a spiritual home. He says the type of entertainment he’s involved in adversely affects the brain and “there’s no playing around when it comes to eternity.”


“You cannot be a true God-fearing person and be on a television show like that,” he said. “I know I can’t. I’m not OK with what I’m learning, what the Bible says, and being on that television show.”


The show was moved from Monday to Thursday this season, and its average viewership has dropped from 20 million an episode to 14.5 million, although last year’s numbers were somewhat inflated by the intense interest in Kutcher’s debut. It is the third most popular comedy on television behind CBS’s “The Big Bang Theory” and ABC’s “Modern Family.”


The actors on “Two and a Half Men” have contracts that run through the end of the season.


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AIDS fighting spirit flagging, will miss 2015 targets: charity












WASHINGTON (Reuters) – The world has lost momentum in the fight against the AIDS epidemic, with millions of new people infected last year, the ONE foundation said in a report given on Tuesday.


The conclusion contrasts with a UN report last week, which found that an end to AIDS was in sight due to better access to drugs.












But ONE says “the beginning of the end of the AIDS” remains out of reach, as the number of people newly infected each year still exceeds those who get treated for the first time.


Global leaders last year committed to the “beginning of the end of AIDS” by 2015.


Progress over the past decade has cut the death toll for the disease, mainly due to better access to drugs that can both treat and prevent the human immunodeficiency virus (HIV) which causes AIDS, the United Nations said in its annual report last week.


But while access to treatment has improved, in 2011 there were 2.5 million new cases of HIV. That is more than double the target of having only 1.1 million people newly infected each year, said ONE, a charity co-founded by Irish rock star Bono, that is dedicated to fighting poverty and preventable disease.


There were 34 million people living with AIDS at the end of last year.


At current rates, the world will not reach targets to reverse the spread of AIDS until 2022, seven years behind schedule, according to ONE.


“We recognize the world has done wonders in (fighting AIDS) in the last 10 years. But 2015 is around the corner,” said Michael Elliott, ONE’s chief executive.


“Here’s a moment to put your pedal to the metal and go for it.”


Much of the gap is due to funding cuts in major donor countries. The UN estimates there is about a $ 6 billion AIDS funding gap each year. Countries also have not coordinated a global strategy to tackle the AIDS epidemic, such as targeting treatment to groups at highest risk.


The ONE report examined funding for AIDS from the Group of Seven major developed countries, as well as the political leadership and strategy.


The United States has taken the lead in funding and tackling AIDS. President Barack Obama last year set a new target for AIDS treatments, and called on other nations to also boost their commitments.


The United Kingdom and France are not far behind, but Germany and Canada are lagging relative to their peers. And Japan and Italy are in the last two places, mainly due to Japan’s earthquake in 2011 and Italy’s economic woes.


Elliott said fiscal issues should not stop countries from donating to fight AIDS, since development aid is such a small portion of most countries’ budgets — an argument ONE has made consistently during the global recession.


“You have to be an unfeeling idiot, which we’re not, to fail to recognize that the last few years have been tough economic times for people in many places all over the world,” he said.


“(And) Italy may have fiscal problems. But it’s not going to solve its fiscal problems on the back of development assistance.”


But with major donors embroiled in austerity programs, low and middle-income countries have stepped up, and now provide more than half of the financing for AIDS, ONE said.


In the future, emerging economies like Brazil and China should take the lead on AIDS programs, ONE said.


“It’s very important that people recognize this is a global fight,” Elliott said. “It’s not a fight that should be carried on the backs of the very generous American and British taxpayer.


The report, which comes ahead of World AIDS Day on December 1, will be posted online at www.one.org/policy.


(Reporting by Anna Yukhananov; Editing by Leslie Gevirtz)


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King warns euro risk has grown















Sir Mervyn King: “Mark Carney was the outstanding candidate”



The risk posed by the eurozone has grown, the departing Bank of England governor Sir Mervyn King has warned.


The governor said problems in the eurozone, as well as the US and Asia, lay behind the Bank’s recent pessimism about UK growth prospects in 2013-14.


Speaking to MPs, he defended the Bank’s decision to pass interest earned on the UK gilts it owned back to the Treasury.


He also said the Bank would be in “very good hands” with his recently announced successor as governor, Mark Carney.


Mr Carney was named by Chancellor George Osborne on Monday as his surprise choice for the new Bank of England head.


Currently the governor of the Canadian central bank, Mr Carney will serve for five years and will hold new regulatory powers over banks.


The UK should take pride, Sir Mervyn said, in not only that it could search the world for the best candidate, but that the country was able to produce a “truly outstanding shortlist” from among its own citizens.


‘Slow and protracted’


In evidence to the Treasury Committee, the Bank governor said that Mr Carney – under whom the Bank will be taking on new responsibilities to oversee the health of the country’s banks – faced a difficult task.


“There is a great deal of adjustment to be made in the financial sector, a great deal of adjustment to be made in the economy as a whole,” he said.


“It may be unreasonable to expect anything other than a slow and protracted recovery absent a further fall in the real exchange rate.”


The Bank of England and most City economists say that UK banks must increase their reserves against potential future losses and work their way through problem loans, while the UK economy needs to boost its exports and investment.


The string of difficulties still faced by the UK explained why the Bank chose earlier this month to downgrade the chances of the country experiencing a significant rebound in growth over the coming two years.


“It would take a rather unusual combination of circumstances to see growth of 4% or above in 2013 or 2014,” Sir Mervyn said, adding that the recovery would be much more protracted than has typically been the case after previous recessions.


He confirmed that the Bank’s decision earlier this month to downgrade its forecasts was due to a change of heart amongst the Monetary Policy Committee, rather than any recent economic developments.


“I think there are times where you debate something and you finally decide: ‘Well look, our judgment really has to change now’,” he said.


Global economy doubts


The governor said that the biggest drag on the UK came from the weakness of the global economy.


Continue reading the main story

It is impossible to escape the conclusion that Mr Osborne wants to give a bit of shake to the Bank of England’s culture”



End Quote



Despite recent positive indications from China and from the US housing market highlighted in the Bank’s latest inflation report, the governor expressed doubts.


“I think the staff probably take a more upbeat view on the prospects of the Chinese economy than I would be inclined to,” he said.


He also divulged that private conversations with US colleagues led him to doubt the sustainability of the US recovery.


But he expressed his strongest concerns about the eurozone, claiming that – despite a lull in market anxiety over the euro’s future – the situation on the continent has become worse over the past year.


“The longer the problem goes on, the bigger the adjustment will need to be,” he said, pointing to the continued build-up in debt as southern European governments struggle to regain competitiveness and get their budgets under control.


The governor said that, while the UK economy continued its own adjustment process, the Bank’s ability to stimulate recovery would be limited, although he foresaw that further quantitative easing – purchases by the Bank of government debt – may be warranted.


However, he noted that one of his successor’s most difficult tasks may be to decide when to start raising interest rates or reversing quantitative easing.


“There’s a very difficult policy judgment to be made down the road, first as to when we start tightening monetary policy, and then how rapidly we tighten monetary policy,” he said.


Public accounts


The governor was also questioned by MPs about the Bank’s decision this month to hand back to the Treasury the surplus income that it earns on government debts it holds as a result of its quantitative easing policy.


He admitted that the timing of the announcement could have been handled better – particularly because the Bank’s private knowledge of the agreement had influenced its decision at a committee meeting a few days before the announcement to hold fire on further quantitative easing.


However, he said that the decision did not affect monetary policy or the Bank of England’s independence, although he was concerned it could create the appearance that the Bank was acting under the Treasury’s influence.


The move would not have any meaningful impact on taxpayers, Sir Mervyn said, and all it would achieve was a change in the way that the government reports its borrowing.


“This is about presentation of public accounts, and I do not want to dissuade you from looking into that and raising it with the Treasury, but it is a matter for the Treasury,” he said.


“They are entitled to publish their accounts in the way that they want. And you’re entitled to challenge them about whether those accounts are misleading or not.”


BBC News – Business


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Rugby-England add flyhalf Burns to squad for All Blacks’ test












LONDON, Nov 27 (Reuters) – England called up uncapped Gloucester flyhalf Freddie Burns on Tuesday to their squad for Saturday’s test against New Zealand in place of the injured Toby Flood.


Flood sustained ligament damage to a big toe during the 16-15 loss to South Africa at Twickenham last Saturday.












Owen Farrell, whose last start was in the first test in South Africa this year, is set to replace Flood in the starting XV against the world champions.


Lock Courtney Lawes, who missed England’s first three tests of the November series because of a knee injury, has also been included in the 23-man squad. Two other locks, Mouritz Botha and Tom Palmer, have been omitted.


After beating Fiji in their opening match, England have lost to Australia and the Springboks and now face a daunting match against the All Blacks who are unbeaten in 20 tests since the start of their victorious World Cup campaign last year.


“For those in Saturday’s squad the message is clear – last week we went toe to toe with the second best team in the world and felt we should have won,” England head coach Stuart Lancaster said in a statement.


“Now we have a chance to take on the number one side in front of a passionate Twickenham crowd, who have been fantastic throughout the Internationals, and it is a challenge we will meet head on.” (Reporting by John Mehaffey; Editing by Ken Ferris)


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ChannelAdvisor says eBay sales up 57 percent early on Cyber Monday












(Reuters) – ChannelAdvisor said client sales on eBay Inc‘s online marketplace jumped 57 percent from a year before early on Cyber Monday.


The sales growth rate was five times higher than during the same period last year, said ChannelAdvisor, which helps merchants sell more on websites including Amazon.com Inc and eBay.com.












Client sales on Amazon.com were up 52 percent during the first part of Cyber Monday, ChannelAdvisor also reported.


(Reporting By Alistair Barr; Editing by Gerald E. McCormick)


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U.S. kids getting recommended amount of sleep: study












NEW YORK (Reuters Health) – Children in the U.S. appear to be getting as much shut-eye as the Centers for Disease Control and Prevention (CDC) recommends, according to a new study.


“We can’t say this is the amount that they should be sleeping,” said Jessica Williams, the lead author of the study and a graduate student at the University of California, Los Angeles.












“All we could really do is compare our estimated norms with what is recommended, and it seems like it falls pretty well in line with the recommendations,” she told Reuters Health.


Williams and her colleagues point out in their study, published in the Archives of Pediatrics and Adolescent Medicine, that there has been concern that U.S. kids are getting too little sleep.


Insufficient sleep has been tied to all sorts of issues in kids and teens, from behavior problems to heart health risks (see Reuters Health reports of October 2, 2012 and October 16, 2012).


But there isn’t a lot of hard evidence on how much shut-eye children typically get, Williams said, so the group set out to get an estimate of average sleep duration from birth to age 18.


The researchers gathered data from a nationwide survey that has tracked families for decades.


For this study, they focused on parents’ reports of their children’s sleep, beginning in 1997.


At the time, 2,832 children were included. In 2002 and 2007 the families were surveyed again and there were 2,520 and 1,424 children included, respectively.


Dr. Maurice Ohayon, director of the Stanford Sleep Epidemiology Research Center in Palo Alto, California, said one of the big strengths of the study is that it tracked changes in sleep among the same children as they aged.


“We have an evolution of the sleep during the childhood,” said Ohayon, who was not involved in the study. “That is the unique thing.”


Williams’s team found that until their second birthday, babies in the study slept an average of 12 to 14 hours during each 24-hour period.


By age four that had dropped to about 11 hours of sleep and by age 10, to 10 hours. By age 16, kids were getting an average of about nine hours of sleep per night.


The findings suggest most kids’ sleep habits are in step with government guidelines.


According to the CDC, toddlers should be getting 12 to 14 hours of sleep. Preschoolers should get 11 to 13 hours of sleep, and adolescents age 10 to 17 should get 8.5 to 9.5 hours.


The researchers didn’t find any differences in the amount of sleep between boys and girls, and only a slight gap between white and Hispanic kids.


Hispanic children tended to sleep 19 minutes longer than white children after age nine, but Williams said that difference is too small to matter for individual kids.


Parent reports of how much sleep their kids get are not perfectly accurate, and they often can’t describe the quality of sleep, such as whether kids wake up in the night. Williams said it’s still possible individual children aren’t sleeping enough, because the study could only measure reports of sleep duration, and not sleep quality.


Tracking sleep in a laboratory is more precise, but would cost too much for a study this size, said Ohayon.


He told Reuters Health the study still offers a good sense of how much sleep children typically get, which is valuable in helping to gauge whether a child has a sleep disorder.


“What we are hoping to do with these norms is give some sort of reference to be used by clinicians and parents to see if children fall far from average,” said Williams.


SOURCE: http://bit.ly/KEGTVv Archives of Pediatrics and Adolescent Medicine, online November 26, 2012.


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Feds charge Intrade with illegally allowing bets












WASHINGTON (AP) — U.S. regulators on Monday sued Intrade, the online prediction market that gained popularity as an informal oddsmaker for the presidential election, saying it illegally let customers bet on future economic data, the price of gold and even acts of war.


The Commodity Futures Trading Commission said in a complaint in federal court that Intrade and its operator solicited customers to trade investment contracts that technically are options. Options must be traded on approved, regulated exchanges.












“Today’s action should make it clear that we will intervene in the ‘prediction’ markets, wherever they may be based, when their U.S. activities violate” laws and rules enforced by the agency, CFTC enforcement director David Meister said in a statement.


By requiring that options be traded on approved exchanges, Meister said, regulators can “police market activity and protect market integrity.”


Intrade did not respond to an emailed request for comment.


It was unclear whether regulators believe that all trades on Intrade by U.S. investors are illegal. The CFTC said it would not comment further because the matter was in litigation.


Intrade is known for facilitating bets on award shows, weather and other high-profile events. The prices at which customers are willing to make those bets are cited as informal odds. TEN also used to allow betting on sports through other sites that it operated.


For example, on Monday the site gave “Argo” a 28.5 percent chance of winning the Oscar for best picture and assigned a 19 percent chance that the United States or Israel would launch an airstrike against Iran by June 30.


The CFTC oversees markets for futures and options, investments that allow people to bet on the future prices of commodities like grain and oil. Those contracts help farms, airlines and other businesses to protect themselves against unexpected price swings.


In the complaint, the CFTC alleged that Intrade, based in Ireland, had illegally solicited everyday U.S. investors to use the website between September 2007 and June 25 of this year.


Intrade and its operator, Trade Exchange Network Ltd., falsely claimed in annual reports that the contracts were not being sold to ordinary U.S. customers, the CFTC said. Regulators want the companies to pay fines and return profits that were obtained illegally. They want the site and its operators barred from any future activities related to options trading.


Intrade users reported on Twitter that the site already blocks them from trading contracts related to the prices of oil and gold.


One of them, Joe Schilling, posted an image of an email he said was sent by Intrade in 2009, stating that crude oil and gold contracts were unavailable to U.S. users “due to a regulatory request” from the CFTC.


TEN settled similar charges of soliciting U.S. investors in 2005. In an order filed with that settlement, the CFTC said that U.S. customers accounted for up to 40 percent of Intrade’s total customer base. TEN paid $ 150,000 and agreed to halt further violations.


Under the settlement, TEN agreed to use pop-up windows to tell U.S. customers which bets were not available to them. It said it would cooperate in any future investigations.


Monday’s complaint includes charges that TEN violated that earlier settlement. The company used Intrade to offer illegal options including on the future prices of gold, changes in the unemployment rate and a measure of U.S. economic output, the complaint said. It said TEN failed to provide the pop-up notices mandated in the 2005 order.


___


Daniel Wagner can be reached at www.twitter.com/wagnerreports.


Economy News Headlines – Yahoo! News


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