Canada top court rules against Pfizer in Viagra patent case

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Hurtling towards the fiscal cliff?

WASHINGTON (AP) — Taking little time to celebrate, President Barack Obama is setting out to leverage his re-election into legislative success in an upcoming showdown with congressional Republicans over taxes, deficits and the impending "fiscal cliff." House Speaker John Boehner says Republicans are willing to consider some form of higher tax revenue as part of the solution — but only "under the right conditions."

All sides are setting out opening arguments for the negotiations to come.

Even before returning to Washington from his hometown of Chicago, Obama was on the phone Wednesday with the four top leaders of the House and Senate, including Boehner, to talk about the lame-duck Congress that convenes just one week after Election Day.

Obama adviser David Axelrod warned Republican leaders to take lessons from Tuesday's vote. The president won after pledging to raise taxes on American households earning more than $250,000 a year "and was re-elected in a significant way," Axelrod told MSNBC Thursday morning.

"Hopefully people will read those results and read them as a vote for cooperation and will come to the table," Axelrod said. "And obviously everyone's going to have to come with an open mind to these discussions. But if the attitude is that nothing happened on Tuesday, that would be unfortunate."

He noted that conservative Republican Senate candidate Richard Mourdock in Indiana dismissed the value of compromise and instead said Democrats should join the GOP. "And I note that he's not on his way to the United States Senate," Axelrod said. Mourdock lost to Democratic Rep. Joe Donnelly.

Without a budget deal to head off the fiscal showdown, the nation faces a combination of expiring Bush-era tax cuts and steep across-the-board spending cuts that could total $800 billion next year. Economists have warned that could tip the nation back into recession.

Vice President Joe Biden, flying to his home in Delaware from Chicago, told reporters aboard Air Force Two that the White House was "really anxious" to get moving on the problem. He said he'd been making a lot of calls and "people know we've got to get down to work and I think they're ready to move." He didn't identify whom he had spoken with but predicted the "fever will break" on past legislative gridlock after some soul-searching by Republicans.

The White House held out this week's election results as a mandate from voters for greater cooperation between the White House and Congress. At the same time, it reiterated Obama's top priorities: cutting taxes for middle-class families and small businesses, creating jobs and cutting the deficit "in a balanced way" — through a combination of tax increases on wealthier Americans and spending cuts.

Obama told the congressional leaders he believed "the American people sent a message in yesterday's election that leaders in both parties need to put aside their partisan interests and work with common purpose to put the interests of the American people and the American economy first," the White House said in a statement.

Senate Majority Leader Harry Reid, D-Nev., channeled Obama in calling for a quick solution to the fiscal showdown and saying that asking "the richest of the rich" to pay more should be part of the equation. He added that he'd "do everything within my power to be as conciliatory as possible" but added, "I want everyone to also understand you can't push us around."

"Waiting for a month, six weeks, six months, that's not going to solve the problem," Reid said on Capitol Hill. "We know what needs to be done. And so I think that we should just roll up our sleeves and get it done."

Former Senate Democratic leader Tom Daschle said the postelection congressional session offers a good chance to reset the dynamics between the White House and congressional Republicans in search of compromise.

"I think there's the urgency of the matter that probably goes beyond anything we've seen to date," he said. "The urgency of the repercussions of driving off the cliff are so grave that I can't imagine that failure is an option."

Both Biden and Reid pointed to election exit poll results showing that most Americans support higher taxes on the wealthy.

Biden said there was "a clear sort of mandate about people coming much closer to our view about how to deal with tax policy," adding that "there's all kinds of potential to be able to reach a rational, principled compromise."

Boehner, for his part, said that for Obama to get support for new revenues "the president must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt."

"We aren't seeking to impose our will on the president. We're asking him to make good on his 'balanced' approach," the Ohio Republican said on Capitol Hill.

The reference to a balanced approach to deficit reduction reflected Obama's campaign-long call for higher taxes on incomes above $200,000 for individuals and $250,000 for couples. That was something Boehner made plain he opposes.

The House speaker said conditions on higher taxes would include a revamped tax code to make it cleaner and fairer, fewer loopholes and lower rates for all, adding that "we're closer than we think to the critical mass needed legislatively to get tax reform done."

Boehner did not specify what loopholes House Republicans might consider trimming.

Obama spent a rare morning off Wednesday at his home on Chicago's South Side, then stopped at campaign headquarters to meet privately with staff to thank them for their work in the long, grueling campaign. Workers climbed on top of desks to get a good look at the president.

Obama and his family then flew back to Washington on Air Force One. The president appeared to be in a good mood, racing younger daughter Sasha up the steps, then calling out "Come on slowpokes" to wife Michelle and older daughter Malia.

___

Associated Press writers Julie Pace, Ken Thomas and Andrew Taylor contributed to this report.

___

Follow Nancy Benac on Twitter: http://www.twitter.com/nbenac

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Ex-oil man to be next Anglican leader: UK media

LONDON (Reuters) – A former oil executive who went to the same exclusive school as Prime Minister David Cameron will shortly be named Archbishop of Canterbury, spiritual leader of the world’s 80 million Anglicans, British newspapers said on Thursday.

Justin Welby, 56, the Bishop of Durham, who has had a meteoric rise up the Church of England hierarchy since quitting the world of commerce in 1992, will be announced as the next archbishop as early as Friday, the reports said.

The nomination follows weeks of speculation that the Church body assigned to elect the future archbishop was split over choosing a reformer or a safe pair of hands to maintain the status quo.

Cameron’s spokesman said an announcement would come “soon”.

Welby, who went to the same exclusive school, Eton College, as Cameron, London mayor Boris Johnson and Princes William and Harry, has already accepted the position, according to the Daily Telegraph.

Bookmaker William Hill stopped taking bets on the future archbishop after a run of bets on Welby on Tuesday.

“In the space of less than an hour we had to cut the odds three times, so took the decision to close the book as we know a decision is already overdue and it seems word may have leaked out,” the bookmaker said in a statement

Welby will replace left-leaning incumbent Rowan Williams, who has said his successor as head of the global Anglican Communion will need “the constitution of an ox and the skin of a rhinoceros”.

Welby is widely reported to be against gay marriage but broadly in favor of the ordination of women bishops, two of the most divisive issues in the communion.

The new archbishop will earn about 74,000 pounds ($ 120,000) a year. He will have lodgings in the Old Palace in Canterbury, southeast England, and the historic riverside Lambeth Palace in London. His tenure will last until retirement at 70 or until he decides to move on.

(Reporting By Alessandra Prentice; editing by Steve Addison/Maria Golovnina)

Celebrity News Headlines – Yahoo! News

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Hurtling towards the fiscal cliff?

WASHINGTON (AP) — Taking little time to celebrate, President Barack Obama is setting out to leverage his re-election into legislative success in an upcoming showdown with congressional Republicans over taxes, deficits and the impending "fiscal cliff." House Speaker John Boehner says Republicans are willing to consider some form of higher tax revenue as part of the solution — but only "under the right conditions."

All sides are setting out opening arguments for the negotiations to come.

Even before returning to Washington from his hometown of Chicago, Obama was on the phone Wednesday with the four top leaders of the House and Senate — Boehner included — to talk about the lame-duck Congress that convenes just one week after Election Day.

Without a budget deal to head off the fiscal showdown, the nation faces a combination of expiring Bush-era tax cuts and steep across-the-board spending cuts that could total $800 billion next year. Economists have warned that could tip the nation back into recession.

Vice President Joe Biden, flying to his home in Delaware from Chicago, told reporters aboard Air Force Two that the White House was "really anxious" to get moving on the problem. He said he'd been making a lot of calls and "people know we've got to get down to work and I think they're ready to move." He didn't identify whom he'd been speaking with but predicted the "fever will break" on past legislative gridlock after some soul-searching by Republicans.

The White House held out this week's election results as a mandate from voters for greater cooperation between the White House and Congress. At the same time, it reiterated Obama's top priorities: cutting taxes for middle-class families and small businesses, creating jobs and cutting the deficit "in a balanced way" — through a combination of tax increases on wealthier Americans and spending cuts.

Obama told the congressional leaders he believed "the American people sent a message in yesterday's election that leaders in both parties need to put aside their partisan interests and work with common purpose to put the interests of the American people and the American economy first," the White House said in a statement.

Senate Majority Leader Harry Reid, D-Nev., channeled Obama in calling for a quick solution to the fiscal showdown and saying that asking "the richest of the rich" to pay more should be part of the equation. He added that he'd "do everything within my power to be as conciliatory as possible" but added, "I want everyone to also understand you can't push us around."

"Waiting for a month, six weeks, six months, that's not going to solve the problem," Reid said on Capitol Hill. "We know what needs to be done. And so I think that we should just roll up our sleeves and get it done."

Former Senate Democratic leader Tom Daschle said the postelection congressional session offers a good chance to reset the dynamics between the White House and congressional Republicans in search of compromise.

"I think there's the urgency of the matter that probably goes beyond anything we've seen to date," he said. "The urgency of the repercussions of driving off the cliff are so grave that I can't imagine that failure is an option."

Both Biden and Reid pointed to election exit poll results showing that most Americans support higher taxes on the wealthy.

Biden said there was "a clear sort of mandate about people coming much closer to our view about how to deal with tax policy," adding that "there's all kinds of potential to be able to reach a rational, principled compromise."

Boehner, for his part, said that for Obama to get support for new revenues, "the president must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt."

"We aren't seeking to impose our will on the president; we're asking him to make good on his 'balanced' approach," the Ohio Republican said on Capitol Hill.

The reference to a balanced approach to deficit reduction reflected Obama's campaign-long call for higher taxes on incomes above $200,000 for individuals and $250,000 for couples. That was something Boehner made plain he opposes.

The House speaker said conditions on higher taxes would include a revamped tax code to make it cleaner and fairer, fewer loopholes and lower rates for all, adding that "we're closer than we think to the critical mass needed legislatively to get tax reform done."

Boehner did not specify what loopholes House Republicans might consider trimming.

Obama spent a rare morning off Wednesday at his home on Chicago's South Side, then stopped off at campaign headquarters to meet privately with staff and thank them for their work in the long, grueling campaign. Workers climbed on top of desks to get a good look at the president.

Then Obama and his family flew back to Washington together on Air Force One. The president appeared to be in a good mood, racing younger daughter Sasha up the steps, then calling out "Come on slowpokes" to wife Michelle and older daughter Malia.

___

Associated Press writers Julie Pace, Ken Thomas and Andrew Taylor contributed to this report.

___

Follow Nancy Benac on Twitter: http://www.twitter.com/nbenac

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Novartis says may have 14 new blockbuster drugs by 2017

ZURICH (Reuters) – Novartis could produce 14 or more new big-selling ‘blockbuster’ drugs within five years as it bets on cancer, heart and respiratory treatments to fill the gaps left by expiries on current patents, the Swiss firm said on Thursday.

Like many of its rivals, Novartis is facing headwinds as some of its top earners lose patent protection, particularly blood pressure drug Diovan. It is counting on its newest products, such as breast cancer drug Afinitor, to pump up sales.

But some analysts caution that recently launched drugs like multiple sclerosis pill Gilenya and eye medicine Lucentis will face growing competition next year as Biogen Idec and Regeneron bring rival products to market.

Novartis currently has 139 projects in clinical development including more than 73 new molecular entities spread across a wide area of diseases, it said in a statement published ahead of an investor event in Boston on Thursday.

Among its most promising products are serelaxin and LCZ686 to treat patients with heart failure as well as drugs for psoriasis and multiple sclerosis. It plans to file serelaxin for regulatory approval in the U.S. and Europe in early 2013.

However, the results of a late-stage study for serelaxin published on Tuesday were mixed and some analysts think Novartis may need further trials to guarantee its commercial success.

Chief Executive Joseph Jimenez did not rule out further trials but said in a conference call with reporters it would press ahead with filings using the current data.

Novartis’s shares were 1.3 percent higher at 57.30 francs by 1315 GMT, when the Stoxx 600 Europe healthcare sector index was up 0.2 percent.

“Novartis does have a very productive research engine. However we will include significant value once we see convincing data,” said Andrew Weiss, an analyst at Vontobel.

ONCOLOGY KEY

Novartis said its pharmaceuticals division aimed to file nine products for approval over the next 12 months. It expects the unit – which is responsible for more than half of sales – to return to growth from the second half of next year.

Novartis was also confident about its oncology pipeline, which it expects to contribute more than $ 1 billion in sales by 2017, while it said recently launched Afinitor could have sales of $ 2 billion in advanced breast cancer by 2017.

It is also hoping to convince doctors that they should switch patients onto Tasigna when one of its best-selling drugs Glivec loses patent exclusivity in 2015.

Novartis plans to initiate further trials in 2013 to prove that patients with chronic myeloid leukemia who have taken Tasigna may be able to stop treatment once their cancer is under control.

The company also said it planned to manage more projects but keep a lid on costs by cutting recruitment time and spending on trials. Measures include giving handheld devices to doctors to record trial data and to get pharmacy chains to undertake some of the simpler trial work.

(Editing by Greg Mahlich)

Health News Headlines – Yahoo! News

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Exclusive: Google Ventures beefs up fund size to $300 million a year

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Ghana building collapse traps dozens, kills 1

ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.

Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.

The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.

Other officials told The Associated Press that the death toll was likely to rise.

An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.

A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.

“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.

President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.

The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.

The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.

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Canada firms to capitalize on nuclear trade with India

NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.

Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.

“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.

A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.

This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.

India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.

Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).

It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.

However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.

PROBABLY BEATING AUSTRALIA

Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.

Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.

“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.

Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.

“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”

Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.

“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.

He also said it should open up the market to service the existing reactors in India.

Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.

Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.

“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.

($ 1 = C$ 0.9965)

(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)

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Move over, Obama; Twitter had a big night too

WASHINGTON (Reuters) - President Barack Obama called it - in less than 140 characters.

Around 11:15 pm EST, just as the networks were beginning to call the race in his favor, Obama took to Twitter to proclaim himself the winner over Republican candidate Mitt Romney.

"This happened because of you. Thank you," Obama tweeted.

That the president would take his message to Twitter before taking the stage in Chicago underscored the tremendous role social media platforms like Twitter played in the 2012 election.

Minutes later, with the race called in his favor, Obama tweeted again.

"We're all in this together. That's how we campaigned, and that's who we are. Thank you. -bo."

Through the course of a long and bitter presidential campaign, Twitter often served as the new first rough draft of history.

Top campaign aides used the Internet tool to snipe at each other, the candidates used it to get out their messages and political reporters used it to inform and entertain.

On Election Night, the tweets were flowing.

By 10 p.m. EST, with the race still up for grabs, Twitter announced it had broken records.

There were more than 31 million election-related tweets on Tuesday night, making Election Night "the most tweeted about event in U.S. political history," said Twitter spokeswoman Rachael Horwitz. Between 6 p.m. and midnight EST, there were more than 23 million tweets.

Horwitz noted the previous record was 10 million, during the first presidential debate on October 3.

"Twitter brought people closer to almost every aspect of the election this year," Horwitz said. "From breaking news, to sharing the experience of watching the debates, to interacting directly with the candidates, Twitter became a kind of nationwide caucus."

In the moments following Obama's win, Twitter was in a frenzy, with a peak of 327,000 tweets a minute.

Another tweet from Obama, one that read: "Four more years" and showed a picture of him hugging his wife, became the most retweeted tweet in the history of the site.

'FIRST TWITTER ELECTION'

Love it or hate it, Twitter and its role in politics appears to be here to stay.

For Rob Johnson, campaign manager for Texas Republican Governor Rick Perry's failed presidential run, Twitter "changed the dynamic this cycle and will continue to play a bigger role in years to come."

"We no longer click refresh on websites or wait for the paper boy to throw the news on our porch," Johnson said. "We go to Twitter and learn the facts before others read it."

The 2012 race was the first where Twitter played such an important role. Top campaign advisers like Romney's Eric Fehrnstrom and Obama's David Axelrod engaged in Twitter battles through the year.

With many political reporters and campaign staff on Twitter and Facebook, social media websites were often the first place news broke. Some top news stories were kept alive or thrust into the headlines after becoming hot topics on Twitter.

"It was one heckuva echo chamber," Dante Scala, a political science professor at the University of New Hampshire, said in an email.

Johnson said Twitter was the driving force behind some of the year's biggest political news stories.

"The twitterverse shapes the news and public opinion," Johnson said. "The Internet is truly a real and powerful tool in politics."

In future elections, candidates and their campaign staffs will have to include social media as another battleground, Democratic strategist Jamal Simmons said.

"This was the first Twitter election and social media is now fully a part of our election mechanics," Simmons said. "Going forward candidates must have an aggressive social media strategy if they want to win."

(Editing by Mary Milliken and Peter Cooney)

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MTV Launches Fundraiser for “Jersey Shore” Site Ravaged by Sandy

LOS ANGELES (TheWrap.com) – “Jersey Shore” might be wrapping up its run, but the spirit of goodwill and humanity that the MTV reality hit has inspired will carry on.

MTV will air a one-hour fundraising special to help out Seaside Heights, N.J., the site where Snooki and her fellow orange-hued revelers played out most of their televised shenanigans, and was ravaged by Hurricane Sandy last week.

The one-hour special, “Restore the Shore,” will air live on November 15 at 11 p.m., with a tape delay for the west coast.

The special, which will also run in online and mobile formats, will feature the “Jersey Shore” cast as well as other special guests, and air from MTV’s Times Square studio in New York.

MTV is partnering with nonprofit organization Architecture for Humanity for the fundraising effort, with efforts primarily focused on rebuilding the Seaside Heights boardwalk, with additional assistance going to re-building efforts for businesses and residents in the community.

TV News Headlines – Yahoo! News

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