Business briefs








Unlucky 7

UBS trader Kweku Adoboli was sentenced iin London to seven years in jail for gambling away $2.3 billion of the Swiss bank's money in Britain's biggest-ever fraud.

Sales Fitch

Billionaire Ken Griffin’s Citadel bought a 6.3 percent stake in Abercrombie & Fitch, adding to increased interest in the teen retailer by hedge funds in the past three months.

Coca-coffee

Green Mountain Coffee Roasters, the maker of Keurig K-Cups and brewers, named Coca-Cola.’s Brian Kelley as CEO to succeed Lawrence J. Blanford, who is retiring.

Stanford

Two former accounting executives, Gilbert Lopez and Mark Kuhrt were found guilty of helping Texas financier R. Allen Stanford hide a Ponzi scheme that bilked investors of $7 billion.



Groupon

Groupon shares rose 8.5 percent after the $8 billion hedge fund Tiger Global Management said it acquired a 9.9 percent stake in the daily deal site.











Read More..

Hottest tech products of fall 2012




















Every year we roll out our fall list of the products getting the most attention from readers, and every year it ends up being a list dominated by phones. But not this year. No, this time you guys are spicing things up with a surprising mix of products. Here’s what’s getting your attention right now.

Sony Vaio Tap 20

Rating: 3.5 stars out of 5 (Very good)





The good: By slapping a battery inside a 20-inch touch-screen all-in-one, the company has given birth to a new PC category with great potential in tech-savvy homes.

The bad: The touch screen has some frustrating drag, and Sony made a few missteps among some otherwise reasonable sacrifices for portability and price.

The cost: $999.99

The bottom line: A compelling experiment in tablet-desktop hybridization, the Sony Vaio Tap 20 is a great fit for home tech enthusiasts willing to try something new.

Toshiba Portege Z935-P300

Rating: 3.5 stars out of 5 (Very good)

The good: This Toshiba product has very good features, performance and battery life for its price and is very thin and very light.

The bad: The keyboard may be too small for some users and the laptop doesn’t feel particularly sturdy, especially the lid and display.

The cost: $779.99 to $876

The bottom line: The Toshiba Portege Z935-P300 is an excellent ultrabook value if you can overlook its few design shortcomings.

Apple iPad Mini

Rating: 4 stars out of 5 (Excellent)

The good: The ultrathin and light design makes it seem far more intimate and booklike than the larger iPad, and its cameras, storage capacities, optional LTE antenna and general functionality offer a full iPad experience. The screen’s dimensions elegantly display larger-format magazines and apps.

The bad: It costs too much, especially considering the lower resolution of its 7.9-inch display, which isn’t a Retina Display. The A5 processor isn’t as robust as the one in the fourth-gen iPad and iPhone 5. Typing on the smaller screen is not quite as comfy.

The cost: $329.99 to $549.99

The bottom line: If you want the full, polished Apple tablet experience in a smaller package, the iPad Mini is worth the premium price. Otherwise, good alternatives are available for less money.

Apple iPhone 5

Rating: 4 stars out of 5 (Excellent)

The good: The iPhone 5 adds everything we wanted in the iPhone 4S: 4G LTE, a longer, larger screen, free turn-by-turn navigation, and a faster A6 processor. Plus, its top-to-bottom redesign is sharp, slim, and featherlight.

The bad: Apple Maps feels unfinished and buggy; Sprint and Verizon models can’t use voice and data simultaneously; the smaller connector renders current accessories unusable without an adapter; there’s no NFC; and the screen size pales in comparison with jumbo Android models.

The cost: $199.99

The bottom line: The iPhone 5 completely rebuilds the iPhone on a framework of new features and design, addressing its major previous shortcomings. It’s absolutely the best iPhone to date, and it easily secures its place in the top tier of the smartphone universe.





Read More..

In humbler times for state House Republicans, Will Weatherford sets a more moderate tone




















Few state institutions bear a more distinct imprint of recent Republican hegemony than the Florida House of Representatives.

It launched the political career of U.S. Sen. Marco Rubio, who served as its speaker four years ago. Its members have passed some of the most conservative bills in the nation. And since 2006, it has nurtured the career of Will Weatherford of Wesley Chapel.

On Tuesday, Weatherford will be sworn in as, at 33, the youngest speaker of the House in recent Florida history and the first speaker from the Tampa Bay area since 2004. He’ll preside over a chamber where Republicans have an overwhelming 76-44 majority. The son-in-law of former House Speaker Allan Bense, Weatherford looks like the latest model in a long, unbroken line of GOP speakers.





But these are also somewhat humbling times for House Republicans. On Nov. 6, they lost five seats and their veto-proof majority, punctuated by the shocking defeat of the person who had been picked to succeed Weatherford as speaker in 2014, Chris Dorworth.

"There’s no question that the state moved more toward the center," said incoming Minority Leader Perry Thurston, D-Plantation. "This will change things, make it more bipartisan than it has been for quite a while."

The moment may be tailor-made for Weatherford, a block of a man and former defensive end at Jacksonville University who has developed a reputation for playing nice with both parties.

"If there’s one thing I’d like to achieve it is to be an inclusive reformer for the Florida House," Weatherford told reporters last week. "To make sure we’re working with our friends across the aisle, that we’re allowing for everyone’s voice to be heard and to participate, but at the same time, don’t let that stifle us from moving forward with real reforms and dealing with the challenges that Florida has before us."

Make no mistake: Weatherford, a businessman himself, will continue to push a conservative, pro-business agenda that could have been written by the Florida Chamber of Commerce.

He wants new state employees to enroll in 401(k)-style retirement plans rather than the current pension system, which provides guaranteed payments from the state. While it’s sure to alienate unions and spark a legal battle, Weatherford can’t say how much it would save the state. He says pensions are a "ticking time bomb" in state finances — despite no evidence of the sort.

He’ll push hard for a bigger commitment to online education and easing corporate taxes on small businesses. He toes the Republican Party line on the Affordable Care Act, is closely aligned with incoming Senate President Don Gaetz and publicly supports Gov. Rick Scott, albeit with measured language.

"His focus is on the right thing, which is getting unemployment down, making sure we have a fully funded education system," Weatherford said. "He’s talking about the right things."

But he disagrees with Scott on tuition. While Scott opposes tuition increases, Weatherford sides with universities, saying they are necessary to cover costs. "We have universities that if given more flexibility with tuition, they can go to great heights," he said.

His biggest break is one of style. His predecessor, Dean Cannon, ran the House with strict efficiency that bruised the feelings of marginalized Democrats while allowing Republicans to run roughshod with legislation that, during the tea party ascendency, opposed the Affordable Care Act, the federal economic stimulus and early voting. Since the spring, Weatherford has signaled he will run the House differently.





Read More..

Yahoo shares reach 18-month high as investors warm to new CEO
















SAN FRANCISCO (Reuters) – Yahoo Inc shares reached their highest level in a year and a half, as investor confidence grows that new Chief Executive Marissa Mayer can pull off a comeback that eluded three of her predecessors.


The Internet pioneer has yet to actually provide Wall Street with any hard evidence that its business is turning a corner – and she has warned that it will be a lengthy job – but investor faith in the ex-Google executive is running high.













Hedge funds Tiger Global Management and Greenlight Capital Management recently disclosed large stakes in Yahoo, accumulated during the third quarter.


“Money managers are staring to want to own this name again,” said Colin Gillis, an analyst with BGC Partners.


“For the amount of traffic they have, and the assets they have, they should be able to squeeze some value out of that,” Gillis said, referring to Yahoo. With Mayer at the helm, he said, Yahoo has “finally got somebody who the market believes can do that.”


Gravity Capital Management’s Adam Seessel said that Mayer’s recruitment of various Google Inc employees, including recently hired Yahoo Chief Operating Officer Henrique de Castro, has also helped burnish Yahoo‘s image.


“What the market is seeing is not (financial) numbers so much as they’re seeing people voting with their feet, people moving from Google to Yahoo,” said Seessel, whose firm owns Yahoo shares.


“All these people from Google wouldn’t be following her if they didn’t think that she didn’t have some good cards to play,” he said.


Shares of Yahoo finished Monday’s regular trading session up 2.8 percent at $ 18.36, amid a broad market rally. The last time Yahoo traded above $ 18.30 was in May 2011.


Yahoo ranks among the world’s most popular websites, with roughly 700 million monthly visitors. But the company’s revenue has eroded, amid competition from Google and Facebook and an industry-wide change in the online advertising market that has compressed prices for the online display ads that are key to its business.


The company has been rocked by internal turmoil: CEO Carol Bartz was fired over the phone and CEO Scott Thompson left after less than six months on the job due to questions about his academic credentials. Mayer, Google‘s first female engineer, took the top job at Yahoo in July.


In a conference call with investors last month, Mayer said that making Yahoo‘s online products more smartphone-friendly was her top priority.


Investors and analysts on Monday dismissed a weekend report in The Telegraph that said Yahoo was in discussions with Facebook about a search deal, particularly after Facebook issued a statement denying any such talks.


“People expect a better search experience on Facebook. We are working on improvements to better meet those expectations but are not in talks to enter into a new search partnership,” Facebook said in a statement on Monday.


Still, analysts say that search represents one of the key opportunities that Mayer will focus on as she moves to revive Yahoo‘s fortunes. A 2010 deal struck by former CEO Bartz outsourced the back-end technology of Yahoo‘s search to Microsoft Corp, but deal has failed to deliver an expected boost to Yahoo‘s search advertising revenue.


“Certainly search could be resuscitated,” said Gabelli & Company analyst Brett Harriss, who said Yahoo should be worth $ 26 a share based on a six-times multiple of its earnings before interest, taxes, depreciation and amortization.


“It was a disaster for a year and a half,” said Harris. “Everybody hated the board, you had a while of transition where you went through three or four CEOs quickly.”


Now, he said, there’s finally a CEO “that investors can believe in.”


(Reporting By Alexei Oreskovic; Editing by Steve Orlofsky)


Tech News Headlines – Yahoo! News



Read More..

Oprah: There's Never Been a Star Like Bieber

Over the past 30 years, Oprah Winfrey has gotten to know the biggest stars on the planet, including Paul McCartney and the late Michael Jackson, but she says no other star has risen to fame like Justin Bieber.

VIDEO: Oprah Cautions Bieber Against Marrying Young

In her upcoming interview with the Biebs, Oprah says that the major difference that makes Bieber's rise to stardom unique is the role that social media played in his discovery and continued success.

"Thirty million, nearly, Twitter fans follow his every move 24/7," Oprah states in a new preview of the sit-down. Click the video to see Bieber's reaction to Oprah's assessment of how he stands apart from past music legends.

And you can watch the entire interview on Sunday, November 25 at 9/8c on OWN.

Read More..

‘Duffel man’ sought in Brooklyn slay spree








A mysterious man toting a duffel bag has been identified as a key “person of interest” in the Brooklyn serial-killer case — after surveillance video showed him at one and possibly two of the three slay scenes, law-enforcement sources told The Post yesterday.

Cops said they are eager to talk to the mustached man — whom they dubbed “John Doe Duffel Bag” — about the killings of three Middle Eastern shop owners, each shot with the same .22-caliber gun over the last four months.

The unidentified man, who is middle-aged, white and balding, was most recently caught on surveillance video, duffel bag in hand, at around 6 p.m. Friday near the Flatbush store where owner Rahmatollah Vahidipour, 78, was found dead at 7:11 p.m., cops said.







DOE EYED: "John Doe Duffel Bag" was apparently filmed near the 99-cent store where Isaac Kadare was killed and near the shop where Rahmatollah Vahidipour was slain.





Another video appears to show the same man near a Bensonhurst shop on Aug. 2 around the time its owner, Isaac Kadare, 59, was killed there, several sources said.

The duffel man has no known connection to the first murder — of shopkeeper Mohammed Gebeli, 65, in his Bay Ridge clothing store on July 6.

“We want to identify the man known as John Doe Duffel Bag,” said NYPD spokesman Paul Browne.

A law-enforcement source said, “The duffel-bag guy could be a perp, or he could be a witness.”

“Duffel Bag” was one of four people caught by surveillance cameras near Vahidipour’s murder. Cops released their images Sunday.

Browne said cops have learned two of them — a running man and woman — were a vendor and a woman who had allegedly stolen perfume from him.

The fourth, an older woman, has nothing to do with the case, Browne said.

The FBI’s famed serial-killer profilers have joined the hunt for the psycho.

“We’re talking to the FBI and going all out to stop these murders,” Police Commissioner Ray Kelly said as the combined reward for information about the killer hit $84,000.

Kelly said “it’s reasonable to assume” the killer conducted “reconnaissance” on the victims, all of whom were alone in stores that didn’t have cameras inside.

Money was stolen in the first two killings, but nothing was taken in the third. Vahidipour had $171 in his pocket, a source said.

The law-enforcement source speculated the killer spent weeks eyeing his targets.

“He’s very calculating and methodical. He’s going to these places numerous times over extended periods of times . . . casing them out,” the source said.

The source added that cops are poring over the victims’ phone records, looking at “the possibility the perp may have phoned them.”

“When it was just the first two cases, I thought it was a straight-up robbery,” the source said. “Now, with the third one, it’s like, ‘Ha, ha. I did it again.’ It’s something else now.”

Kelly said cops were not ruling out the chance the “8’s” in the shops’ addresses — or the victims’ Middle-Eastern origins — factored into the killer’s motivation.

Vahidipour’s grandson, who declined to give his name, fumed, “I hope they find the guy and God gives him justice!”

Brooklyn DA Charles Hynes said, “There is nothing about the victims that would suggest anything other than they were just the victims of a random execution.”

Additional reporting by Kirstan Conley, Kieran Crowley, Dan MacLeod, Jennifer Bain, Ikimulisa Livingston

dan.mangan@nypost.com










Read More..

Growing middle class feeds spirits business in Latin America




















Diageo executive Randy Millian is proud of the fact that eight out of every 12 times someone pours a standard or premium whiskey in the Latin American and Caribbean region, they’re drinking one of his company’s brands.

That kind of dominance is why the spirits giant is bullish on its future in Latin America, which recently has been the fastest growing region for Diageo worldwide. In 2012, the Latin America and Caribbean region represented 12 percent of Diageo’s net worldwide sales and 11 percent of the company’s operating profit. Diageo hopes Brazil will become one of its top three markets by 2017, behind the U.S. and the United Kingdom.

But getting there hasn’t been easy. During periods of economic and political unrest in the region over the last decade, there were times when it would have been more profitable for Diageo to pull back, said Millian, president of Diageo Latin America and the Caribbean. Yet, the company focused on growing its scotch business across the region and it paid off. Over the last eight years, Diageo has increased sales more than two and a half times and almost tripled its operating profit.





“I believed it would get good,” said Millian, who supervises more than 3,000 employees across the region and 119 in Miami. “But I’m not sure I realized it would get this good.”

Millian has been running the region out of Diageo’s Miami office for more than a decade. But he’s also no stranger to this part of the world. He first lived in Argentina as a child and during his career has done stints in Venezuela, Brazil, Mexico and Costa Rica.

The Miami Herald sat down with Millian during a media day, which was part of a Diageo investor conference in Miami spotlighting the success in the Latin American and Caribbean region. Here is some of what Millian had to say:

Q. Has your growth over the last decade been comparable to Diageo’s growth around the world?

We would definitely be in the top positions in the league within Diageo. That’s one of the reasons they’re focusing on us. Like many corporations, the emerging markets have a huge potential for growth. I’m including Asia-Pacific, Africa and Latin America. We are seeing higher growth rates than we are seeing in the developed world, especially Europe. Although the U.S. is starting to come back, the growth rates in the emerging markets are significantly higher.

Q. What is driving the growth Diageo is experiencing in Latin America?

The improved demographics. You now have over 50 percent of the population who is middle class. You have had an increase in spending. Not only are there more people in the middle class, but you have more people in the (upper) class. We expect over the next year to have 60 million more people in the (upper) class. They’re also learning to spend money in different ways.

Q. In what countries do you see the most growth or most opportunities for future growth? Is Brazil the main focus?

There has been broad growth in Brazil, Colombia, Mexico, Chile and Peru. We have seen it all over, but those would be the ones we’re focusing on. It’s not just Brazil, it’s throughout the region.

Q. Why did you remain committed to this region over years when there was not a lot of growth and there was a lot of political and economic unrest in some countries?





Read More..

New House speaker faces post-election challenges




















Few state institutions bear a more distinct imprint of recent Republican hegemony than the Florida House of Representatives.

It launched the political career of U.S. Sen. Marco Rubio, who served as its speaker four years ago. Its members have passed some of the most conservative bills in the nation. And since 2006, it has nurtured the career of Will Weatherford of Wesley Chapel.

On Tuesday, Weatherford will be sworn in as, at 33, the youngest speaker of the House in recent Florida history and the first speaker from Tampa Bay since 2004. He’ll preside over a chamber where Republicans have an overwhelming 76-44 majority. The son-in-law to former House Speaker Allan Bense, Weatherford looks like the latest model in a long, unbroken line of GOP speakers.





But these are also somewhat humbling times for House Republicans. On Nov. 6, they lost five seats and their veto-proof majority, punctuated by the shocking defeat of the person who had been picked to succeed Weatherford as speaker in 2014, Chris Dorworth.

“There’s no question that the state moved more toward the center,” said incoming Minority Leader Perry Thurston, D-Plantation. “This will change things, make it more bipartisan than it has been for quite a while.”

The moment may be tailor-made for Weatherford, a block of a man and former defensive end at Jacksonville University who has developed a reputation for playing nice with both parties.

“If there’s one thing I’d like to achieve is to be an inclusive reformer for the Florida House,” Weatherford told reporters last week. “To make sure we’re working with our friends across the aisle, that we’re allowing for everyone’s voice to be heard and to participate, but at the same time, don’t let that stifle us from moving forward with real reforms and dealing with the challenges that Florida has before us.”

Make no mistake: Weatherford will continue to push a conservative, pro-business agenda that could have been authored by the Florida Chamber of Commerce.

He wants new state employees to enroll in 401(k)-style retirement plans rather than the current pension system, which provides guaranteed payments from the state. While it’s sure to alienate unions and spark a legal battle, Weatherford can’t say how much it will save the state. He says pensions are a “ticking time bomb” in state finances — despite no evidence of the sort.

He’ll push hard for a bigger commitment to online education and easing corporate taxes on small businesses. He toes the Republican party line on the Affordable Care Act, is closely aligned with incoming Senate President Don Gaetz and publicly supports Gov. Rick Scott, albeit with measured language.

“His focus is on the right thing, which is getting unemployment down, making sure we have a fully funded education system,” Weatherford said. “He’s talking about the right things.”

But he disagrees with Scott on tuition. While Scott opposes tuition increases, Weatherford sides with universities, saying they are necessary to cover costs.

“We have universities that if given more flexibility with tuition, they can go to great heights,” he said.

His biggest break is one of style. His predecessor, Dean Cannon, ran the House with strict efficiency that bruised the feelings of marginalized Democrats while allowing Republicans to run roughshod with legislation that, during the tea party ascendency, opposed Obamacare, the stimulus and early voting. Since the spring, Weatherford has signaled he will run the House differently.





Read More..

Justin Bieber Wins Big at American Music Awardss

Justin Bieber gave an emotional thank you to his mom, Pattie Mallette, who stood on stage with the pop star as he accepted Artist of the Year, his third award of the evening, at the culmination of the 40th annual American Music Awards Sunday in Los Angeles. 

The Biebs, who brought his mother along as his date for the show, took home the first and the last award of the night, (Favorite Pop/Rock Album and Artist of the Year, respectively) as well as Favorite Pop/Rock Album for Believe.

Fierce & Fabulous: The 2012 AMA Red Carpet

Nipping at his heels with two wins this year, Nicki Minaj nabbed the awards for favorite rap/hip hop album (Pink Friday: Roman Reloaded) and favorite rap/hip hop artist.

The big-winning twosome also graced the stage to sing (once with each other) hits from their current albums. Taylor Swift, Christina Aguilera, No Doubt, Usher, Carly Rae Jepsen, Carrie Underwood, Kelly Clarkson, and Pink also made the night memorable with elaborate, theatrical performances.

Recently departed Dick Clark, who created the show forty years ago, was honored by Stevie Wonder with a variety of songs. Whitney Houston was also fondly remembered by singer Brandy, who introduced a brief tribute to the late artist.

Here's a rundown of all the winners honored at the 40th annual American Music Awards tonight:

Artist of the year: Justin Bieber

New artist of the year: Carly Rae Jepsen

Pop/rock female artist: Katy Perry

Country female artist: Taylor Swift

Pop/rock male artist: Justin Bieber

Pop/rock band, duo or group: Maroon 5

Country male artist: Luke Bryan

Country band, duo or group: Lady Antebellum

Soul/R&B male artist: Usher

Soul/R&B female artist: Beyonce

Alternative rock artist: Linkin Park

Adult contemporary artist: Adele

Artist, Latin: Shakira

Artist, electronic dance music: David Guetta

Artist, contemporary inspirational: tobyMac

Rap/hip-hop artist: Nicki Minaj

Pop/rock album: Justin Bieber, "Believe''

Rap/hip-hop album: Nicki Minaj, Pink Friday: Roman Reloaded

Country album: Carrie Underwood, Blown Away

Soul/R&B album: Rihanna, "Talk That Talk''

Read More..

Israeli strikes bring bloodshed in Gaza; President Obama pushes for ceasefire








REUTERS


Smoke and explosion are seen after Israeli air strikes in Gaza City Monday.



GAZA CITY, Gaza Strip — An Israeli missile ripped through a two-story home in a residential area of Gaza City on Sunday, killing at least 11 civilians, including four young children and an 81-year-old woman, in the single deadliest attack of Israel's offensive against Islamic militants.

A similar scene unfolded elsewhere in the city early Monday, when an airstrike leveled two houses belonging to a single family, killing two children and two adults and injuring 42 people, including children, said Gaza heath official Ashraf al-Kidra. Rescue workers were frantically searching for 12 to 15 members of the Azzam family under the rubble.




While the airstrikes relentlessly targeted militant rocket operations, Israeli gunboats unleashed a steady tattoo of heavy machine gun fire and shells at militant facilities on Gaza's coastal road.

The bloodshed was likely to raise pressure on Israel to end the fighting, even as it pledged to intensify the offensive by striking the homes of wanted militants. High numbers of civilian casualties in an offensive four years ago led to fierce criticism and condemnation of Israel.

In all, 81 Palestinians, about half of them civilians, have been killed in the five-day onslaught and 720 have been wounded. Three Israeli civilians have died from Palestinian rocket fire and dozens have been wounded..

President Obama said he was in touch with players across the region in hopes of halting the fighting, while also warning of the risks of Israel expanding its air assault into a ground war.

"We're going to have to see what kind of progress we can make in the next 24, 36, 48 hours," Obama said during a visit in Thailand.

U.N. chief Ban Ki-moon urged the two warring parties to achieve an immediate cease-fire. He said he was heading to the region to appeal personally for an end to the violence, but no date was given in the U.N. statement for his arrival.

On the ground, there were no signs of any letup in the fighting as Israel announced it was widening the offensive to target the military commanders of the ruling Hamas group.

The Israeli military carried out dozens of airstrikes throughout the day, and naval forces bombarded targets along Gaza's Mediterranean coast. Many of the attacks focused on homes where militant leaders or weapons were believed to be hidden.

Palestinian militants continued to barrage Israel with rockets, firing more than 100 on Sunday, and setting off air raid sirens across the southern part of the country. Some 40 rockets were intercepted by Israel's U.S.-financed "Iron Dome" rocket-defense system, including two that targeted the metropolis of Tel Aviv. At least 10 Israelis were wounded by shrapnel.










Read More..