S.Africa’s rand firms with emerging market currencies












JOHANNESBURG (Reuters) – South Africa‘s rand firmed slightly against the dollar on Friday as positive U.S. jobs numbers boosted the currencies of several emerging market countries on the hopes they would benefit from a more buoyant American economy.


The rand was 0.29 percent firmer at 8.6577 against the dollar at 1619 GMT from New York’s Thursday close of 8.6850.












“The good jobs numbers fundamentally boosted the global mood, which immediately impacted U.S. equities for the better, and this benefitted the rand and other emerging currencies,” said Anisha Arora, emerging market analyst for London-based 4Cast.


The yield on the three year bond slid one basis point to 5.47 percent while the longer dated 14-year paper fell seven basis points to 7.435 percent.


The rand was expected to come under pressure ahead of a major meeting of the African National Congress from mid-December with investors worried debt could increase if the ruling party pushes for populist policies that drive up spending.


Data scheduled for release next week include retail sales and manufacturing production data for October. There will also be data on November consumer inflation and producer inflation.


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Big-data analytics company Cloudera raises $65 million












SAN FRANCISCO (Reuters) – Cloudera, a distributor of software that helps companies analyze big data, said it has raised $ 65 million in new funding.


The company is part of a growing group of businesses that help dig into the vast trove of data created by digital sources such as sensors, posts to the Internet, pictures and videos.












The field caught investor attention when Splunk, another data analytics firm, held an initial public offering earlier this year and doubled in price on its first trading day.


Cloudera’s business is based on Hadoop, open-source software that aggregates results from large sets of data. Cloudera provides services that allow companies to easily use Hadoop.


The funding round was led by Accel Partners, with participation from Greylock Partners, Ignition Partners, In-Q-Tel and Meritech Capital Partners. All Things D, which first reported the funding, said the company’s valuation was $ 700 million.


Cloudera, based in Palo Alto, California, last raised $ 40 million in November 2011.


(Reporting By Sarah McBride; Editing by Edmund Klamann)


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“Gangnam Style” singer Psy apologizes for past anti-U.S. songs












LOS ANGELES (Reuters) – The South Korean pop singer behind the viral smash hit “Gangnam Style” apologized on Friday for past concerts featuring anti-American lyrics, ahead of a holiday performance to be attended by U.S. President Barack Obama and his family.


Psy issued the apology after reports surfaced in the United States on Friday about his participation in two performances critical of the U.S. military in 2004.












Psy’s “Gangnam Style” Korean pop and dance video is now the most-watched video ever on YouTube, with more than 900 million views since it was first uploaded in July.


“While I’m grateful for the freedom to express one’s self, I’ve learned there are limits to what language is appropriate and I’m deeply sorry for how these lyrics could be interpreted,” the rapper said in a statement.


“I will forever be sorry for any pain I have caused by those words,” he added.


In one performance, which Psy said was from eight years ago, the rapper protested the deaths of two teenage South Korean girls who were run over by a U.S. tank stationed in the country.


In a separate performance, Psy was critical of the U.S.-led invasion of Iraq and its occupation, in which South Korean forces participated.


Psy is scheduled to perform at the annual “Christmas in Washington” television special that will also be attended by Obama and his family, the White House said on Friday. Broadcaster TNT said Psy would still perform as planned.


(Reporting by Eric Kelsey; Additional reporting by Mark Felsenthal in Washington; Editing by Jill Serjeant and Peter Cooney)


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Roche breast cancer drug extends overall survival












ZURICH (Reuters) – Swiss pharma group Roche‘s drug Perjeta significantly extended the lives of women with an aggressive and incurable form of breast cancer compared to a placebo, according to new data from a late-stage study presented on Saturday.


The detailed data presented at the San Antonio Breast Cancer Symposium found that the risk of death was reduced by 34 percent in women treated with a combination treatment of the drugs Perjeta and Herceptin plus chemotherapy compared to women treated with Herceptin, chemotherapy and a placebo, Roche said.












Roche is hoping that the Perjeta combination will become the standard treatment for women with a form of cancer known as HER2-positive, which makes up about a quarter of all breast cancers and has no cure.


At the time of the analysis, median overall survival had not yet been reached in people receiving the Perjeta combination, as more than half of these people continued to survive, Roche said.


Median overall survival was more than three years for people who received Herceptin and chemotherapy, Roche said, adding no new safety signals had been observed in the phase III study.


“This treatment combination with Perjeta is the first to have significantly extended survival compared to Herceptin and chemotherapy in people with previously untreated HER2-positive metastatic breast cancer,” Roche’s Chief Medical Officer Hal Barron said in the statement.


Breast cancer is the most common cancer among women worldwide, with about 1.4 million new cases diagnosed each year and more than 450,000 women dying of the disease annually, according to the World Health Organisation.


Perjeta, also known as pertuzumab, is a personalized medicine that targets a protein found in high quantities on the outside of cancer cells in HER2-positive cancers.


It was granted approval by U.S. health regulators in June. Roche is awaiting a decision from European regulators.


Vontobel analyst Andrew Weiss forecasts peak sales of 2 billion Swiss francs ($ 2.15 billion) for the drug.


Roche is also developing an “armed antibody” known as TDM-1 as a treatment for HER2-positive breast cancer. TDM-1 combines Herceptin with a derivative of a powerful type of chemotherapy and is designed to reduce unpleasant side effects. ($ 1 = 0.9313 Swiss francs)


(Reporting by Silke Koltrowitz and Caroline Copley; Editing by Paul Tait)


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Euro falls on grim economic outlook, U.S. data eyed












LONDON (Reuters) – The bleak outlook for the European economy knocked the euro and stalled gains the region’s share markets on Friday, as investors waited to see if nonfarm payrolls data in the United States might affect its monetary policy plans.


A day after the European Central Bank cut its forecasts for growth across the 17-nation euro area next year, Germany’s Bundesbank said there was a chance the region’s debt crisis could send Europe’s biggest economy into recession.












The euro dropped 0.25 percent to a low of $ 1.2932 after the Bundesbank statement, extending losses of over one percent seen on Thursday in reaction to the ECB‘s new forecasts which have heightened speculation of a early rate cut.


“It is unusual that a negative growth projection for the next year is offered before the end of the current year, but with such a view, markets are naturally pricing in an interest rate cut,” said Daisuke Karakama, market economist for Mizuho Corporate Bank.


The main March 2013 German government bond futures contract, which had rallied sharply on the talk of an early ECB rate, was about 3 ticks lower at 145.66, with traders cutting back positions ahead of the U.S. jobs data.


European shares were fractionally higher in early trading, but mainly consolidating around the 18-month highs reached on Thursday on hopes of an improving economic performance in the global economy.


The FTSEurofirst 300 index <.fteu3> of top European shares traded up 0.2 percent at 1,133.95 points, with Germany’s Dax <.gdaxi> up 0.1 percent after the Bundesbank’s announcement.</.gdaxi></.fteu3>


London’s FTSE 100 <.ftse>, and Paris’s CAC-40 <.fchi> opened flat to slightly higher, while a slight dip in U.S. stock futures hinted at a cautious Wall Street open. <.l><.eu><.n></.n></.eu></.l></.fchi></.ftse>


Investors are focused on U.S. non-farm payrolls data, which is expected to show an addition of 93,000 jobs in November, probably dented by superstorm Sandy, against October’s gain of 171,000. The figures, due at 1330 GMT, are also likely to show the unemployment rate holding steady at 7.9 percent.


Federal reserve policymakers are scheduled to meet Dec 11-12 to review monetary policy.


Brent crude meanwhile was steady above $ 107 per barrel, but prices were headed for their biggest weekly loss in more than a month on the worries about the euro zone’s economy and on-going concerns about the looming fiscal crisis in the United States, the world’s top oil consumer.


Brent rose 0.1 percent to $ 107.14. while U.S. crude futures inched up 0.2 percent to $ 86.41 a barrel.


(Reporting by Richard Hubbard; editing by Philippa Fletcher)


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WiLan sues Apple, HTC, Sierra Wireless












(Reuters) – Canadian patent licensing company WiLan Inc filed patent lawsuits against Apple Inc, HTC Corp and Sierra Wireless Inc‘s U.S. unit.


The company filed three suits claiming infringement of its fourth-generation LTE wireless technologies against all three companies in a federal court in Florida.












The other two suits, related to 3G HSPA handset products, were filed against Apple and Sierra in Texas.


(Reporting By Neha Dimri in Bangalore)


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AP Interview: Jackson, cast discuss ‘The Hobbit’












WELLINGTON, New Zealand (AP) — Many fans are eagerly anticipating a return to the fictional world of Middle-earth with next week’s general release of the first movie in “The Hobbit” trilogy. Director Peter Jackson and the film’s stars speak to The Associated Press about making “The Hobbit: An Unexpected Journey“:


— Jackson on shooting at 48 frames per second instead of the standard 24: “We’ve seen the arrival of iPhones and iPads and now there’s a generation of kids — the worry that I have is that they seem to think it’s OK to wait for the film to come out on DVD or be available for download. And I don’t want kids to see ‘The Hobbit‘ on their iPads, really. Not for the first time. So as a filmmaker, I feel the responsibility to say, ‘This is the technology we have now, and it’s different … How can we raise the bar? Why do we have to stick with 24 frames? …’”












“The world has to move on and change. And I want to get people back into the cinema. I want to play my little tiny role in encouraging that beautiful, magical, mysterious experience of going into a dark room full of strangers, and being transported into a piece of escapism.”


Martin Freeman (Bilbo Baggins) on shooting some scenes without other actors around: “I must admit I found the green screen and all that easier than I thought I would. … I found the technical aspect of it quite doable. Some of it’s difficult, but it’s quite enjoyable, actually. It taps into when I used to play ‘war’ as a 6-year-old. And the Germans were all imaginary. Because I was playing a British person. So yeah, I was on the right side. …”


On marrying his performance to that of Ian Holm, who played an older Bilbo Baggins in the “Lord of the Rings” trilogy: “I knew I couldn’t be a slave to it. Because as truly fantastic as Ian Holm is in everything, and certainly as Bilbo, I can’t just go and do an impression of Ian Holm for a year and a half. Because it’s my turn. But it was very useful for me to watch and listen to stuff he did, vocal ticks or physical ticks, that I can use but not feel hamstrung by.”


— Hugo Weaving (Elrond) on the differences in tone to the “Rings” trilogy: “This one feels lighter, more buoyant, but it’s got quite profoundly moving sequences in it, too … I think it’s very different in many ways, and yet it’s absolutely the same filmmaker, and you are inhabiting the same world.”


— Elijah Wood (Frodo) on returning to Middle-earth in a cameo role: “It was a gift to come back … what they’d constructed was such a beautiful remembrance of the characters from the original trilogy.”


Cate Blanchett (Galadriel) on the toughest part of filming: “Trying to keep my children off the set.”


Richard Armitage (Thorin Oakenshield) on being a 6-foot-2 guy playing a dwarf: “It’s amazing how quickly you get used to it. And also, we spent most of the shoot much bigger than a 6-foot-2 guy. I mean, I had lifts in my shoes, I was wider, I was taller, and bigger-haired. And I actually think that was quite an interesting place to be, because I do think dwarfs have big ideas about themselves …”


— Andy Serkis (Gollum) on taking on the additional role of second-unit director: “There were only a couple of times where there were really, really black days where I went away thinking, ‘This is it. I can’t do it.’ But on the whole, Pete (Jackson) was so brilliant at allowing me to set stuff up and then critiquing my work … but at least I would have my stab at it.”


On the film itself: “I think it’s a great story. I think it’s a beautifully crafted film with great heart. A rollicking adventure, and it feels to me like this really massive feast that everyone will enjoy eating.”


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Strong quake hits off Japan near Fukushima disaster zone












TOKYO (Reuters) – A strong quake centered off northeastern Japan shook buildings as far away as Tokyo on Friday and triggered a one-meter tsunami in an area devastated by last year’s Fukushima disaster, but there were no immediate reports of deaths or serious damage.


The quake had a preliminary magnitude of 7.3, the U.S. Geological Survey said, adding that there was no risk of a widespread tsunami.












The March 2011 earthquake and following tsunami killed nearly 20,000 people and triggered the world’s worst nuclear crisis in 25 years when the Fukushima-Daiichi nuclear plant was destroyed, leaking radiation into the sea and air.


Workers at the plant were ordered to move to higher ground after Friday’s quake. Tokyo Electric Power Co, the operator of the Fukushima nuclear plant, reported no irregularities at its nuclear plants.


All but two of Japan‘s 50 nuclear reactors have been idled since the Fukushima disaster as the government reviews safety.


The quake measured a “lower 5″ in Miyagi prefecture on Japan’s scale of one to seven, meaning there might be some damage to roads and houses that are less quake resistant.


The scale measures the amount of shaking and in that sense gives a better idea of possible damage than the magnitude. The quake registered a 4 in Tokyo.


The one-meter tsunami hit at Ishinomaki, in Miyagi, at the centre of the devastation from the March 2011 disaster. All Miyagi trains halted operations and Sendai airport, which was flooded by the tsunami last year, closed its runway.


Five people in the prefecture were slightly injured.


“I was in the centre of the city the very moment the earthquake struck. I immediately jumped into the car and started running away towards the mountains. I’m still hiding inside the car,” said Ishinomaki resident Chikako Iwai.


“…I have the radio on and they say the cars are still stuck in the traffic. I’m planning to stay here for the next couple of hours.”


Narita airport outside Tokyo was back in action after a brief closure for safety checks. There were small tsunamis, measuring in the centimeters, elsewhere near the epicenter.


Last year’s quake, which measured 9.0, triggered fuel-rod meltdowns at Fukushima, causing radiation leakage, contamination of food and water and mass evacuations. Much of the area is still deserted.


The government declared in December that the disaster was under control.


“Citizens are now escaping to designated evacuation centers and moving to places on higher ground,” office worker Naoki Ara said in Soma, 30 km (18 miles) from the Fukushima-Daiichi plant.


Prime Minister Yoshihiko Noda cancelled campaigning in Tokyo ahead of a December 16 election and was on his way back to his office, but there was no immediate plan to hold a special cabinet meeting.


Public spending on quake-proofing buildings is a big election issue.


Japanese were posting photos of their TV screens with tsunami warnings on Facebook, asking each other whether they’re safe, confirming their whereabouts.


“It shook for a long time here in Tokyo, are you guys all right?” posted Eriko Hamada, enquiring about the safety of her friends.


Phone lines were overloaded and it was difficult to contact residents of Miyagi.


“Owing to the recent earthquake, phone lines are very busy, please try again later,” the phone operator said.


The yen rose against the dollar and the euro on the news, triggering some safe-haven inflows into the Japanese currency.


(Additional reporting by Tomasz Janowski, Leika Kihara and Aaron Sheldrick; Writing by Nick Macfie; Editing by Ken Wills)


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Standard Chartered sees $330 million settlement on Iran












HONG KONG (Reuters) – Standard Chartered expects to pay $ 330 million to settle a case with U.S. regulators who accused the Asia-focused bank of failing to comply with sanctions against Iran, further denting profit growth this year.


The settlement will be on top of the $ 340 million it paid to New York’s Department of Financial Services in the third quarter, which pushed its before-tax profit growth in 2012 to a mid-single-digit percentage from more than 10 percent, StanChart said in a statement on Thursday.












Any earnings growth would mean a 10th straight year of record profits, as StanChart has ridden on Asia‘s rise through much of the last decade, allowing it to continue hiring and increasing earnings when much of the industry is shrinking.


“It ain’t broke, so they’re not fixing it,” said Jim Antos, an analyst at Mizuho Securities in Hong Kong. “The thing they are doing is trying to add new businesses, but there isn’t a compelling story and that’s why their shares haven’t moved.”


Standard Chartered said it expected talks with U.S. Federal regulators to conclude shortly, confirming a Reuters report in early November.


Despite its regulatory woes, the bank is one of the few still hiring in the industry, saying in August it intended to add at least 1,500 more staff in the second half of this year. By contrast, most rivals have been cutting, with Citi saying on Wednesday it was cutting 11,000 jobs.


“We continue to see significant opportunities across our markets in Asia, Africa and the Middle East,” Chief Executive Peter Sands wrote in a statement released on Thursday.


KEEPING LID ON COSTS


A rise in the number of out-of-work bankers meant Standard Chartered was able to maintain a lid on costs, with revenue growing faster than costs — a phenomenon known in financial industry jargon as “positive jaws”.


For much of 2010, StanChart was hit by ever-rising costs as an increasing number of banks and brokerages tried to expand in Asia. Since then, various minor players including Samsung Securities and KBW have begun pulling out.


The bank does not release specific numbers in its trading updates, which it keeps for its annual report that is typically released in late February. It singled out Malaysia, China and Indonesia as regions where income grew by at least 10 percent.


In Hong Kong, its biggest market, income grew at a high single-digit percentage, the bank said.


StanChart’s Hong Kong-listed shares are up 9 percent year-to-date, lagging the 20 percent rise on the Hang Seng Index.


Asset quality remained good, the bank said, with loan impairments within the wholesale bank expected to be below the levels seen in the first half of this year. For the consumer bank, loan impairment is expected to increase by at least 10 percent from the first half.


However, StanChart pointed to India and the Middle East as two markets where it was watchful for asset quality. Slowing growth in some emerging markets has raised concern that StanChart could be hit by a rise in bad loans.


The bank appointed a new global head of loan syndication in late November, naming Cristian Jonsson to replace Philip Cracknell, who is retiring in March.


To diversify away from its traditional lending business, the bank has been looking to expand to areas such as commodities, where it aims to double revenue in the next four years, it said on Tuesday.


(Editing by Alex Richardson)


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South Africa military plane crashes in mountains












JOHANNESBURG (AP) — A South African military aircraft on an unknown mission to an area near the village where former President Nelson Mandela lives crashed in a mountain range, officials said Thursday. It was unclear whether there were any survivors.


The Douglas DC-3 Dakota, a twin-propeller aircraft, had taken off from Pretoria’s Waterkloof Air Force Base on Wednesday night, said Brig. Gen. Xolani Mabanga, a military spokesman. On Thursday morning, soldiers found the wreckage of the airplane in the Drakensberg mountains near Ladysmith in KwaZulu-Natal province, some 340 kilometers (210 miles) southeast of the air base, Mabanga said.












Mabanga said soldiers had been sent to the scene to look for survivors. Mabanga said he did not know what the mission of the aircraft was, though it had planned to land in Mthatha in the country’s Eastern Cape. Siphiwe Dlamini, a Defense Ministry spokesman, declined to immediately comment Thursday morning.


Mthatha is about 30 kilometers (17 miles) north of Qunu, the village where Mandela now lives after retiring from public life. South Africa‘s military remains largely responsible for the former president’s medical care. However, military officials declined to say whether those on board had any part in caring for Mandela.


In November, another South African military flight crash landed at Mthatha, sending several people to the hospital with injuries. However, at that time, the military denied that those on board had anything to do with Mandela’s care.


Mandela, 94, was imprisoned for nearly three decades for his fight against apartheid before becoming the nation’s president in the country’s first fully democratic vote in 1994.


___


Jon Gambrell can be reached at www.twitter.com/jongambrellAP .


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