Saudi Arabia bans Brazil beef imports on mad cow doubts

SAO PAULO (Reuters) – Saudi Arabia has suspended imports of Brazilian beef, Brazil‘s agriculture ministry said on Tuesday, and became the largest country to stop purchases after confirmation of a 2010 case of atypical mad cow disease.

The decision, confirmed by a ministry press official in Brasilia, follows Egypt‘s ban of beef on Monday from Parana state, where a cow that died two years ago had developed atypical bovine spongiform encephalopathy (BSE), or mad cow disease. Egypt will continue to import from other states.

Between January and October, Saudi Arabia imported 31,300 metric tons of beef, putting it among the top 10 largest importers from Brazil, the world’s largest beef exporter.

But top buyers Russia, Hong Kong and Egypt – which took more than half of the 896,000 metric tons of beef that Brazil has exported this year through September – continue to import its beef, suggesting the impact could be limited.

Prior to Saudi Arabia, only Japan, China and South Africa had halted imports of all Brazilian beef since Brazil announced on December 7 that a 13-year-old cow that died in 2010 in Parana tested positive for the protein linked to the development of BSE.

The countries are all minor importers of Brazilian beef.

The cow, which was kept for breeding purposes, never developed BSE and died of other causes. But it tested positive for the causal agent for BSE, a protein called a prion, which can arise spontaneously in elderly cattle.

A similar case of atypical BSE occurred in the United States in April. Like the Brazilian cow, that animal never entered the food chain and there was no major effect on U.S. beef exports.

Brazilian companies like JBS SA,, the world’s biggest meats producer, as well as rival Minerva SA and food processor Marfrig Alimentos SA have played down the impact of the case on their operations.

After it confirmed the case of atypical BSE, the World Animal Health Organization issued a statement maintaining Brazil’s status as a low-risk country for mad cow disease.

“This classification has been followed by important countries, blocks and consumers,” Minerva said in a statement on Tuesday, adding that sales to Saudi Arabia accounted for approximately 2.5 percent of gross sales so far this year.

(Reporting by Patricia Monteiro and Roberto Samora; Writing by Caroline Stauffer; Editing by Jeffrey Benkoe)

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TSX may open higher on “fiscal cliff” hopes

(Reuters) – Toronto’s main stock index looked set to open higher on Tuesday, tracking global markets, fueled by expectation that U.S. lawmakers might reach an agreement to avoid looming tax increases and spending cuts that threaten to hurt the world’s biggest economy.

TOP STORIES

* The differences over how to resolve the “fiscal cliff” narrowed significantly Monday night as President Barack Obama made a counter-offer to Republicans that included a major change in position on tax hikes for the wealthy, according to a source familiar with the talks.

* Knight Capital Group’s board was split between two competing offers for the firm after a meeting on Monday where suitors Getco Holding Company LLC and Virtu Financial LLC presented their sweetened bids to Knight’s directors, sources involved in the talks said.

* British inflation defied forecasts in November to hold at its highest rate since May, reducing the scope for the Bank of England to inject more cash into the struggling economy.

* Germany’s government is considering cutting its forecast for growth in Europe’s largest economy next year from its current estimate of 1 percent due to a weak half year over the winter, Deputy Economy Minister Bernhard Heitzer told Reuters.

MARKET SNAPSHOT

* Canada stock futures traded up 0.26 percent

* U.S. stock futures,, were up around 0.40 percent <.n></.n>

* European shares <.fteu3>, <.stoxx> were up <.eu></.eu></.stoxx></.fteu3>

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index <.trjcrbtr>: 295.92; was up 0.13 percent</.trjcrbtr>

* Gold Futures: $ 1,699.3; up 0.06 percent

* US Crude: $ 87.70; up 0.54 percent

* Brent Crude: $ 108.23; up 0.55 percent

* LME 3-month Copper: $ 8,028.25; fell -0.43 percent

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* AuRico Gold Inc. : BMO resumes coverage with market perform rating, raises price target to C$ 9.50 from C$ 9, after the company completed the sale of its Ocampo project and announced a share buyback program

* First Majestic Silver : Raymond James cuts target price to C$ 26 from C$ 26.75 after the company said it would acquire Orko Silver Corp in a share and cash deal worth C$ 345 million

* Kirkland Lake Gold Inc. : CIBC cuts target to C$ 9 from C$ 15 citing the challenges at the company’s Macassa operations and its greater-than-expected outlook cuts

* Primero Mining Corp.

: RBC cuts target to $ 8.50 from $ 9 after the company said it would acquire Cerro Resources, giving it an element of growth in 2015

* Sun Life Financial Inc. : Canaccord Genuity cuts to sell rating on valuation while CIBC ups target to C$ 26 from C$ 25 after the company said it would sell its U.S. annuities business for $ 1.35 billion

ON THE CALENDAR

* No Major Canadian economic data scheduled for release

* Major U.S. events and data includes Redbook, NAHB index and SEMI book/bill

(Reporting by Kishan Nair)

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Syrian rebels take control of Damascus Palestinian camp

BEIRUT (Reuters) – Syrian rebels took full control of the Yarmouk Palestinian refugee camp on Monday after fighting raged for days in the district on the southern edge of President Bashar al-Assad‘s Damascus powerbase, rebel and Palestinian sources said.

The battle had pitted rebels, backed by some Palestinians, against Palestinian fighters of the pro-Assad Popular Front for the Liberation of Palestine-General Command (PFLP-GC). Many PFLP-GC fighters defected to the rebel side and their leader Ahmed Jibril left the camp two days ago, rebel sources said.

“All of the camp is under the control of the (rebel) Free Syrian Army,” said a Palestinian activist in Yarmouk. He said clashes had stopped and the remaining PFLP fighters retreated to join Assad‘s forces massed on the northern edge of the camp.

The battle in Yarmouk is one of a series of conflicts on the southern fringes of Assad’s capital, as rebels try to choke the power of the 47-year-old leader after a 21-month-old uprising in which 40,000 people have been killed.

Government forces have used jets and artillery to try to dislodge the fighters but the violence has crept into the heart of the city and activists say rebels overran three army stations in a new offensive in the central province of Hama on Monday.

On the border with Lebanon, hundreds of Palestinian families fled across the frontier following the weekend violence in Yarmouk, a Reuters witness said.

Syria hosts half a million Palestinian refugees, most living in Yarmouk, descendants of those admitted after the creation of Israel in 1948, and has always cast itself as a champion of the Palestinian struggle, sponsoring several guerrilla factions.

Both Assad’s government and the mainly Sunni Muslim Syrian rebels have enlisted and armed divided Palestinian factions as the uprising has developed into a civil war.

“NEITHER SIDE CAN WIN”

Syrian Vice President Farouq al-Sharaa said in a newspaper interview published on Monday that neither Assad’s forces nor rebels seeking to overthrow him can win the war.

Sharaa, a Sunni Muslim in a power structure dominated by Assad’s Alawite minority, has rarely been seen since the revolt erupted in March 2011 and is not part of the president’s inner circle directing the fight against Sunni rebels. But he is the most prominent figure to say in public that Assad will not win.

Sharaa said the situation in Syria was deteriorating and a “historic settlement” was needed to end the conflict, involving regional powers and the U.N. Security Council and the formation of a national unity government “with broad powers”.

“With every passing day the political and military solutions are becoming more distant. We should be in a position defending the existence of Syria. We are not in a battle for an individual or a regime,” Sharaa was quoted as telling Al-Akhbar newspaper.

“The opposition cannot decisively settle the battle and what the security forces and army units are doing will not achieve a decisive settlement,” he said, adding that insurgents fighting to topple Syria’s leadership could plunge it into “anarchy and an unending spiral of violence”.

Sources close to the Syrian government say Sharaa had pushed for dialogue with the opposition and objected to the military response to an uprising that began peacefully.

In a veiled criticism of the crackdown, he said there was a difference between the state’s duty to provide security to its citizens, and “pursuing a security solution to the crisis”.

He said even Assad could not be certain where events in Syria were leading, but that anyone who met him would hear that “this is a long struggle…and he does not hide his desire to settle matters militarily to reach a final solution.”

In Hama province, rebels and the army clashed in a new campaign launched on Sunday by rebels to block off the country’s north, activists said.

The Syrian Observatory for Human Rights, an opposition-linked violence monitor, said fighting raged through the provincial towns of Karnaz, Kafar Weeta, Halfayeh and Mahardeh.

It said there were no clashes reported in Hama city, which lies on the main north-south highway connecting the capital with Aleppo, Syria’s second city.

Qassem Saadeddine, a member of the newly established rebel military command, said on Sunday fighters had been ordered to surround and attack army positions across the province. He said Assad’s forces were given 48 hours to surrender or be killed.

In 1982 Hafez al-Assad, father of the current ruler, crushed an uprising in Hama city, killing up to 30,000 civilians.

Qatiba al-Naasan, a rebel from Hama, said the offensive would bring retaliatory air strikes from the government but that the situation is “already getting miserable”.

(Additional reporting by Oliver Holmes, Erika Solomon and Dominic Evans in Beirut, Afif Diab at Masnaa, Lebanon; editing by Philippa Fletcher)

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Modern Etiquette: A bit of netiquette will keep Christmas real

LONDON (Reuters) – Christmas is a convivial time of year when people get together for celebrations and conversation. It’s all about human contact so it’s important that you’re discriminating about how you use your digital devices.

It’s fine if they’re used to facilitate get-togethers and spread seasonal cheer. But Christmas is a real, not a virtual event, so it’s important to discard the phones, tablets and computers and enjoy festive celebrations in the real world.

Christmas cards are still an invaluable and personal way of keeping in touch with far-flung friends and relations.

In these straitened times, however, you might want to cut down the number of cards you send, so it’s fine to explain to your nearest and dearest that you won’t be sending them cards – a personalized seasonal message by text, phone call or email, sent out to individuals, is quite acceptable.

Avoid sending out generic e-cards. They’re lazy and impersonal, and many people will find them lacking in Christmas spirit or just baffling.

If you’re emailing instead of sending a Christmas card, make sure that you send out unique – and individual – messages to each of your recipients. Group emails, like round robins, are to be avoided.

It’s fine to put general seasonal messages on social networking sites, but avoid posting compromising photos.

This is the time of year when we all let our hair down, but not everyone will appreciate the evidence being posted for all to see in cyberspace.

Don’t get too carried away with seasonal cyber-cheer. Spamming your friends and followers with endless Christmas wishes and updates will soon get tedious.

Christmas Day is all about socializing with family and friends, and enjoying good food and good conversation. So don’t spend the big day glued to your phone, rather than interacting with your family.

Ban all phones from the Christmas table.

Eating together is all about sociability and it’s a real insult to the host and/or cook to be transfixed by your texts rather than the turkey and table talk.

Be a good digital host.

Technology is part of our everyday life and Christmas is no exception. If you have friends or family staying in your home, make sure that you have your WiFi password to hand. Offer them access to your network, and hope that everyone adheres to good festive netiquette.

Christmas is the perfect time to make a video call, but choose your timing carefully. Nobody wants to be talking to virtual visitors during lunch or present opening.

Remember the power of the written word.

If you are the lucky recipient of a generous present or lavish hospitality, then hand-writing a proper thank you letter is a much more elegant gesture than texting or emailing, and will be noted and appreciated. It is fine to email or text your thanks for small presents.

(This story has been refiled to fix dateline)

(Jo Bryant is an etiquette advisor and editor at Debrett’s, the UK authority on etiquette and modern manners (www.debretts.com). Any opinions expressed are her own. Debrett’s “Netiquette” is a definitive guide to digital dilemmas and outlines a code of manners for modern communication.)

(Editing by Paul Casciato)

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Amy Winehouse inquest to be heard again

LONDON (AP) — Officials in London say the inquest into the death of soul singer Amy Winehouse was overseen by a coroner who lacked the proper qualifications and will be re-heard next month.

Camden Council says a new hearing will take place on Jan. 8.

Winehouse was found dead in her London home in July 2011 at age 27. An inquest in October 2011 found the “Back to Black” singer had died of accidental alcohol poisoning.

Assistant deputy coroner Suzanne Greenaway, who oversaw the inquest, resigned the next month after her qualifications were questioned. She had been appointed by her husband, Andrew Reid, the coroner for inner north London.

Reid was suspended, and resigned earlier this month.

Winehouse family spokesman Chris Goodman said Monday that family had not requested a new hearing.

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Enzon Pharma to explore sale of company

(Reuters) – Biotechnology company Enzon Pharmaceuticals Inc said it would explore a possible sale of the company or its corporate assets.

The company also said that based on clinical data it plans to suspend development of its prostate cancer program, which is being tested in an early-stage trial, to conserve capital.

Enzon had total cash, cash equivalents and marketable securities of $ 288.7 million as of September 30.

The company said it has retained Lazard as financial adviser for the review of the potential sale of one or more corporate assets or the entire company.

Enzon, in which activist investor Carl Icahn has a 13.29 percent stake, has two drugs in mid-stage trials and a number of others in early-stage studies.

Shares of Enzon, which has a market capitalization of about $ 200 million, closed at $ 4.57 on Friday on the Nasdaq. The stock has lost a third of its value so far this year.

(Reporting By Vrinda Manocha in Bangalore; Editing by Roshni Menon)

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Oil below $87 as US fiscal concerns drag on

The price of oil hovered below $ 87 a barrel Monday as uncertainty over a deal on the U.S. budget overshadowed expectations of economic stimulus in Japan and China.

By early afternoon in Europe, benchmark oil for January delivery was down 7 cents to $ 86.66 a barrel in electronic trading on the New York Mercantile Exchange. The contract ended up 84 cents Friday at $ 86.73.

In London, Brent crude was down 36 cents at $ 107.82 on the ICE Futures exchange.

Oil prices were kept in check by the lack of agreement in Washington on the U.S. budget, as concerns grew that tax increases and spending cuts that will take effect next year if no deal is reached will hinder economic growth and demand for crude.

Analysts, however, said that if the “fiscal cliff” can be avoided, commodities like oil could make gains.

“If U.S. fiscal cliff issues can be resolved soon, a strong and broad-based rally across commodities is possible, as investors are under-exposed,” said a report from Barclays in London.

Meanwhile, hopes grew that Japan’s new government would offer stimulus to boost growth. Weekend elections delivered a resounding victory to the Liberal Democratic Party, returning it to power after a three-year hiatus. Leader Shinzo Abe has called for aggressive steps to break Japan out of its 20-year economic decline.

In China, new Communist Party leaders are promising reforms aimed at reducing reliance on exports and more spending, if needed, to prop up a shaky economic recovery. In the first statement of their economic goals since taking power in November, the new party leaders pledged continuity Sunday with long-term plans aimed at nurturing self-sustaining growth and raising income.

In other energy futures trading on Nymex:

— Wholesale gasoline was down 0.23 cent to $ 2.6585 a gallon.

— Heating oil retreated 0.42 cent to $ 2.9727 a gallon.

— Natural gas added 4.4 cents to $ 3.358 per 1,000 cubic feet.

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Iran media: Son of ex-president released on bail

TEHRAN, Iran (AP) — Iranian media say the son of influential former President Akbar Hashemi Rafsanjani has been released on bail.

Several papers, including the pro-reform Etemad daily, say Mahdi Hashemi was released late Sunday and immediately went to his father’s home.

Authorities arrested the younger Hashemi in late September, a day after he returned to Iran from Britain.

He is held on charges of fomenting unrest in the aftermath of Iran’s disputed 2009 presidential election that brought President Mahmoud Ahmadinejad a second term in office. Hashemi also faced corruption charges.

His arrest came days after his sister, Faezeh, was taken into custody to serve a six-month sentence on charges of making propaganda against Iran’s ruling system.

Since Rafsanjani backed Ahmadinejad’s reformist challenger in 2009, his family has come under pressure from hardliners.

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The Surface might be even more overpriced than the iPad

Everyone knows that Apple (AAPL) gets away with charging a premium for its wares because its fans have shown they’re willing to pay more money for their favorite products than fans of, say, Samsung (005930) and Amazon (AMZN) are willing to pay. This practice has led to enormous gross margins for Apple products but has not spawned many imitators because few companies command the sort of loyalty that Apple does. But Microsoft (MSFT) apparently believes it can pull off the trick with its Surface tablet, which is actually priced higher relative to its component costs than Apple’s iPad.

[More from BGR: Has the iPhone peaked? Apple’s iPhone 4S seen outselling iPhone 5]

Fortune uses some data from IHS iSuppli to show that the 32GB Surface’s screen, processor, battery, RAM and storage cost $ 271, or $ 22 less than the same components of a 32GB version of the new iPad. What this means is that based solely on the cost of its components, the Surface would haul in a profit of $ 315 for every 32GB Surface sold while Apple would make $ 296 for every new iPad sold. This doesn’t take into account manufacturing and marketing costs, of course, so we can’t look at it as a definitive count of each tablet’s gross margin.

[More from BGR: Sony’s PlayStation 4 could lose to the next Xbox before it’s even released]

All the same, Microsoft’s belief that it can grab iPad-like margins for the Surface stands in stark contrast with Amazon and Google (GOOG), who are making little if any money selling the Kindle Fire HD and the Nexus 7, respectively.

This article was originally published by BGR

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Actor Depardieu hits back at French PM over tax exile

PARIS (Reuters) – Actor Gerard Depardieu, accused by French government leaders of trying to dodge taxes by buying a house over the border in Belgium, retorted that he was leaving because “success” was now being punished in his homeland.

A popular and colourful figure in France, the 63-year-old Depardieu is the latest wealthy Frenchman to seek shelter outside his native country after tax increases by Socialist President Francois Hollande.

Prime Minister Jean-Marc Ayrault described Depardieu’s behavior as “pathetic” and unpatriotic at a time when the French are being asked to pay higher taxes to reduce a bloated national debt.

“Pathetic, you said pathetic? How pathetic is that?” Depardieu said in a letter distributed to the media.

“I am leaving because you believe that success, creation, talent, anything different must be sanctioned,” he said.

An angry member of parliament has proposed that France adopt a U.S.-inspired law that would force Depardieu or anyone trying to escape full tax dues to forego their nationality.

The “Cyrano de Bergerac” star recently bought a house in Nechin, a Belgian village a short walk from the border with France, where 27 percent of residents are French nationals, and put up his sumptuous Parisian home up for sale.

Depardieu, who has also inquired about procedures for acquiring Belgian residency, said he was handing in his passport and social security card.

Culture Minister Aurelie Filippetti said she was outraged by Depardieu’s letter, adding that he had for years been supported financially by public money for the film industry.

“When we abandon the ship and desert in the middle of an economic war, you don’t then come back and give morality lessons,” she told BFM-TV. “One can only regret that Gerard Depardieu doesn’t make a comeback in silent movies.”

He said he had paid 145 million euros ($ 190.08 million) in taxes since beginning work as a printer at the age of 14.

“People more illustrious than me have gone into (tax) exile. Of all those that have left none have been insulted as I have.”

The actor’s move comes three months after Bernard Arnault, chief executive of luxury giant LVMH and France’s richest man, caused an uproar by seeking to establish residency in Belgium – a move he said was not for tax reasons.

Belgian residents do not pay wealth tax, which in France is now levied on those with assets over 1.3 million euros ($ 1.7 million). Nor do they pay capital gains tax on share sales.

“We no longer have the same homeland,” Depardieu said. “I sadly no longer have a reason to stay here. I’ll continue to love the French and this public that I have shared so much emotion with.”

Hollande is pressing ahead too with plans to impose a 75-percent supertax on income over 1 million euros.

“Who are you to judge me, I ask you Mr. Ayrault, prime minister of Mr. Hollande? Despite my excesses, my appetite and my love of life, I remain a free man.”

(Reporting by John Irish; Editing by Mark Heinrich)

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