Cyber Monday sales best ever, for Amazon’s Kindle too

(Reuters) – Internet sales jumped more than 30 percent on Cyber Monday, making it the biggest online shopping day ever, according to data released on Tuesday.

Walmart.com, the online division of Walmart U.S., had its best sales day in history, a spokeswoman said.

Cyber Monday also was a record day for sales of Amazon.com Inc’s Kindle devices, the online retailer said, without specifying the number sold.

Still, eBay Inc, operator of one of the largest online marketplaces, outperformed its arch rival Amazon.com over the crucial first five days of the holiday shopping season, according to one closely watched measure.

Cyber Monday has been the biggest online shopping day in recent years, as workers return to offices and make holiday purchases on their computers. This year, the boom in smart phone and tablet adoption has added extra fuel to online shopping.

Cyber Monday sales online jumped 30.3 percent from the same day last year, according to International Business Machines Corp, which analyzes transactions from 500 U.S. retailers.

Mobile devices accounted for 18 percent of visits to retailer websites and 13 percent of sales on Cyber Monday. That was up 70 percent and 96 percent, respectively, compared with the same day last year, IBM reported.

To that end, Walmart.com said Cyber Monday online traffic from Walmart’s mobile apps jumped 280 percent versus a year ago.

On Monday, when retailers offered big Cyber Monday online deals, web shopping peaked at 11:25 a.m. EST (1625 GMT), IBM said. That timing suggests shoppers continue to check out online offers while still at work, even though more people have high-speed Internet access at home than in previous years.

AMAZON’S KINDLE DEAL

Amazon.com cut the price of its 7-inch Kindle Fire tablet by $ 30 to $ 129 on Monday, and it was the company’s most successful Cyber Monday deal ever, the retailer said.

Nine of the top 10 best-selling products on Amazon.com have been Kindles, Kindle accessories and digital content since the company unveiled new devices on September 6, it said.

Worldwide sales of Kindle devices more than doubled during the Thanksgiving weekend from the 2011 period, Amazon said.

“Demand for Kindle Fire is stronger than expected,” said Chad Bartley, an analyst at Pacific Crest Securities. “This suggests Amazon is competing effectively against Apple and Google in the near term, and increased device ownership could drive sales of digital media and physical products over the long term.”

Bartley raised his estimate for fourth-quarter Kindle Fire unit sales to 8 million from 5.5 million and increased his forecast for Amazon’s fourth-quarter revenue to $ 22.75 billion from $ 22.25 billion.

Shares of Amazon closed down almost 0.1 percent at $ 243.40 on Nasdaq. Stock in Wal-Mart Stores Inc shed 0.6 percent to close at $ 69.50.

A FIRST FOR EBAY

Still, eBay sales may have outperformed Amazon during the early part of the holiday shopping season, according to ChannelAdvisor, which helps third-party merchants sell more via websites including eBay.com and Amazon.com.

ChannelAdvisor data excludes sales specifically by Amazon, so the data does not capture Kindle device revenue and many other transactions. About 60 percent of Amazon’s unit sales are generated by the company itself, while 40 percent come from third parties operating on its platform.

ChannelAdvisor said client sales – sales generated by third-party merchants using the company’s service – soared 55.2 percent on eBay.com on Cyber Monday from a year earlier. That was about five times faster than last year’s growth.

For the five-day period from Thanksgiving through Cyber Monday, which ChannelAdvisor calls the “Cyber Five,” client sales on eBay.com rose 38.3 percent compared with the same days in 2011.

ChannelAdvisor said client sales on Amazon.com jumped 42.4 percent on Cyber Monday compared with a year earlier. Over the “Cyber Five,” client sales on Amazon.com rose 37.7 percent, the firm said.

This is the first time since at least 2007 that client sales on eBay.com have grown faster than client sales via Amazon.com during the holiday season, according to Scot Wingo, chief executive of ChannelAdvisor. The firm started tracking this in 2007, he noted.

EBay shares lost 0.5 percent to close at $ 51.15 on Tuesday. The stock rose almost 5 percent to a new multi-year high on Monday after ChannelAdvisor released its early Cyber Monday results.

EBay’s holiday advertising campaign, which included TV commercials, likely attracted more shoppers to its online marketplace, Wingo said.

EBay was also “aggressive” with holiday promotions and gift guides, and the company’s category-specific websites focused on things like fashion and electronics, were well integrated with the broader holiday promotions, unlike last year, Wingo explained.

However, the main driver may have been mobile shopping, an area in which eBay and its payments division PayPal invested early and heavily, Wingo added.

“With less than 10 percent of commerce coming from mobile devices and far higher levels ahead, we believe this trend will carry eBay Marketplace and PayPal for the next few years,” Gil Luria, an analyst at Wedbush Securities, wrote in a note to investors on Tuesday.

(Reporting by Alistair Barr in San Francisco and Jessica Wohl in Chicago, additional reporting by Lisa Baertlein in Los Angeles; Editing by Sofina Mirza-Reid, Lisa Von Ahn, Gunna Dickson and David Gregorio)

Gadgets News Headlines – Yahoo! News

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Women Sizzle in Dancing with the Stars All-Star Finale

TV Watch

By Aaron Parsley

11/26/2012 at 09:35 PM EST

From left: Shawn Johnson, Kelly Monaco and Melissa Rycroft

Craig Sjodin/ABC (3)

It's raining 10s, hallelujah!

On the final Monday night of competition for the all-star season of Dancing with the Stars, the all-female top three – Melissa Rycroft, Shawn Johnson and Kelly Monaco – took big risks during two final routines with their partners.

Each couple performed their favorite dance of the season and "super-sized freestyle," which allowed the pros – Tony Dovolani, Derek Hough and Val Chmerkovskiy – to incorporate the music and choreography of their choice with sets, additional performers and costumes to create routines to wow the judges and the voters at home.

Here's how it all played our inside the ballroom on Monday night:

Melissa and Tony dominated with two perfect 30s for a total of 60. Kelly and Val were close behind with 59 points. And Shawn and Derek remained very much in it with 57.

ROUND 1
Kelly and Val, who have not scored a 10 this season, chose the paso doble as their favorite dance. "I want to make it so technically perfect, so passionate that the judges have no choice but to give us a 10," she said before doing a routine that judge Len Goodman called their "best dance to date." But it wasn't perfect: Carrie Ann Inaba spotted a "little slip-up," an unintentional release, and knocked off half a point, leaving them just shy of 30 with 29.5.

Melissa and Tony performed their favorite dance, a samba. Bruno Tonioli called her a "deliciously irresistible Brazilian bombshell," and said, "You've grown so much as a performer. You really have blossomed." Added Len: "You captured the party flavor of the samba, great technique, great rhythm, fabulous." They earned a perfect 30.

Shawn and Derek decided to revisit their quickstep and performed their original choreography even though some of the moves were against the rules. "The standing ovation means everything to us," Shawn said, explaining their determination to entertain rather than just earn points. Though the judges said the routine was "fantastic," they also called them out for their controversial decision. "You're not allowed to break hold, which you did, you're not allowed to do lifts, which you did," Len said. "You leave me nowhere to go." Added Carrie Ann: "Points do matter ... I'm a little disappointed but I hope your risk pays off." They scored 27 our of 30.

ROUND 2
Kelly started her super-size freestyle by performing aerial work hanging from the ballroom rafters as Val played the violin. According to Bruno the routine, which they danced to "(I've Had) The Time of My Life," combined Cirque du Soleil with Dirty Dancing. "This was the perfect dance," Carrie Ann said of their 29.5-point performance. "You executed everything great, you added artistry and you told us a happy ending to a beautiful love story."

Melissa and Tony did something never done before in the finale – a contemporary routine. "We're taking a huge risk," she said of their lift-heavy dance. Carrie Ann agreed: "With great risk comes great rewards," she said, "Freestyle jackpot!" The routine left Len speechless but when he held up his 10-point paddle, he said, "I wish I had an 11." They earned another perfect 30.

Shawn and Derek performed the final dance of the night with the U.S. Women's Gymnastics team – a.k.a. The Fierce Five. "It was a medley of Derek and Shawn's greatest hits," was Len's assessment. Carrie Ann called it "sensational." Bruno said it was "the crowning glory on a fantastic night," and they got a perfect 30.

But will it be enough to make up for their unconventional quickstep? On Tuesday the couples will perform one more time for points when they pick their music and dance live on the air. And then an all-star winner will be crowned.

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Bounce houses a party hit but kids' injuries soar

CHICAGO (AP) — They may be a big hit at kids' birthday parties, but inflatable bounce houses can be dangerous, with the number of injuries soaring in recent years, a nationwide study found.

Kids often crowd into bounce houses, and jumping up and down can send other children flying into the air, too.

The numbers suggest 30 U.S. children a day are treated in emergency rooms for broken bones, sprains, cuts and concussions from bounce house accidents. Most involve children falling inside or out of the inflated playthings, and many children get hurt when they collide with other bouncing kids.

The number of children aged 17 and younger who got emergency-room treatment for bounce house injuries has climbed along with the popularity of bounce houses — from fewer than 1,000 in 1995 to nearly 11,000 in 2010. That's a 15-fold increase, and a doubling just since 2008.

"I was surprised by the number, especially by the rapid increase in the number of injuries," said lead author Dr. Gary Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio.

Amusement parks and fairs have bounce houses, and the playthings can also be rented or purchased for home use.

Smith and colleagues analyzed national surveillance data on ER treatment for nonfatal injuries linked with bounce houses, maintained by the U.S. Consumer Product Safety Commission. Their study was published online Monday in the journal Pediatrics.

Only about 3 percent of children were hospitalized, mostly for broken bones.

More than one-third of the injuries were in children aged 5 and younger. The safety commission recommends against letting children younger than 6 use full-size trampolines, and Smith said barring kids that young from even smaller, home-use bounce houses would make sense.

"There is no evidence that the size or location of an inflatable bouncer affects the injury risk," he said.

Other recommendations, often listed in manufacturers' instruction pamphlets, include not overloading bounce houses with too many kids and not allowing young children to bounce with much older, heavier kids or adults, said Laura Woodburn, a spokeswoman for the National Association of Amusement Ride Safety Officials.

The study didn't include deaths, but some accidents are fatal. Separate data from the product safety commission show four bounce house deaths from 2003 to 2007, all involving children striking their heads on a hard surface.

Several nonfatal accidents occurred last year when bounce houses collapsed or were lifted by high winds.

A group that issues voluntary industry standards says bounce houses should be supervised by trained operators and recommends that bouncers be prohibited from doing flips and purposefully colliding with others, the study authors noted.

Bounce house injuries are similar to those linked with trampolines, and the American Academy of Pediatrics has recommended against using trampolines at home. Policymakers should consider whether bounce houses warrant similar precautions, the authors said.

___

Online:

Pediatrics: http://www.pediatrics.org

Trade group: http://www.naarso.com

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Asian shares, euro rise on Greek debt deal

TOKYO (Reuters) - The euro hit a one-month high, commodities rose and Asian shares climbed for a seventh consecutive day on Tuesday as global lenders reached a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid.

European shares will likely track Asian peers higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> to open as much as 0.7 percent higher. <.l><.eu><.n/>

U.S. stock futures were up 0.3 percent, hinting at a firm Wall Street open.

After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to cut Greek debt to 124 percent of gross domestic product by 2020, and pledged to take further steps to lower the debt below 110 percent of GDP in 2022.

Eurogroup Chairman Jean-Claude Juncker said ministers would formally approve the release of crucial aid for debt-stricken Greece, removing uncertainty over whether Athens could avoid a near-term bankruptcy.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> gained 0.7 percent to a near three-week high, led by a 1 percent advance in Korean shares <.ks11> and a 0.7 percent rise in Australian shares <.axjo>. Indian shares <.bsesn> also jumped 1.2 percent.

Shanghai shares <.ssec> bucked the trend to fell 1 percent to their lowest since 2009, dragged by weakness in growth-sensitive companies.

"Overhanging the market for a little while has been these macro concerns, so progress towards sorting the situation out gives room for the market to move higher," said Phillip Weinberg, director at BestEx.

Investors' focus is likely to shift now to another major concern hanging over markets, a looming U.S. fiscal crisis.

Republicans in the U.S. Congress on Monday called on President Barack Obama to detail long-term spending cuts to help solve the country's fiscal crisis, while holding firm against the income tax rate increases for the wealthy that Democrats seek.

"Now people will start focusing on the U.S. fiscal cliff and there could be some nervousness there, particularly if it drags on," said Burrell & Co dealer Jamie Elgar of Australian shares.

The euro gained as much as about 0.3 percent to $1.3010, its highest level since October 31, in reaction to the Greek news, before paring gains to be up 0.1 percent at $1.2982.

"The euro gained but the rise is small, and it's unlikely that it will climb further, with big funds winding down their positions ahead of the year-end. Any rise will be countered by selling to cap the euro's upside," said Hiroshi Maeba, head of FX trading Japan for UBS in Tokyo.

He cautioned that the euro still faced downside risks as the latest agreement does not offer a fundamental resolution to the euro zone's debt crisis.

"While the Eurogroup has set December 13 for formal approval of the disbursement, and Germany's planned parliamentary vote later this week will be watched with interest, for markets the deal should put Greece largely on the backburner for a couple of months before it starts missing its fiscal targets again," Sean Callow, senior currency strategist at Westpac bank in Sydney, said in a note.

He doubted if the euro's short-covering will produce sustained trade beyond $1.3050/$1.3100.

Japan's Nikkei stock average <.n225> rose 0.5 percent, just below Monday's seven-month closing high. The benchmark has climbed more than 8 percent in two weeks as the yen has weakened on expectations of easier monetary policy with the likely election of a new government. <.t/>

WEAK USD, CHINA HELP COMMODITIES

The dollar inched up 0.2 percent against the yen to 82.22 yen. The euro rose 0.3 percent against the yen to 106.72.

Traders said some investors unwound long positions in the dollar built up in recent weeks on expectations the Bank of Japan would come under pressure for more aggressive easing.

The dollar eased 0.1 percent against a basket of key currencies <.dxy>, helping to underpin dollar-based commodities.

U.S. crude futures rose 0.3 percent to $88.03 a barrel and Brent was up 0.2 percent to $111.09.

Spot gold was up 0.1 percent to $1,749.65 an ounce, just below a six-week high of $1,754.10 hit on Friday.

London copper hit a near one-month high of $7,821.50 a metric ton (1.1023 tons) as the Greek debt deal added to confidence over copper demand after recent positive data from its top consumer China.

Sentiment may be further underpinned by a report saying China has approved construction of two city subway projects worth 49 billion yuan ($7.87 billion), adding to the list of recent railway project approvals aimed at boosting growth in the world's second-biggest economy.

In another possible sign that the economy is regaining traction, China's industrial profits in October were up 20.5 percent from a year earlier, accelerating from 7.8 percent growth in September.

Asian credit markets firmed slightly, narrowing the spreads on the iTraxx Asia ex-Japan investment-grade index by 1 basis point.

(Additional reporting by Victoria Thieberger in Melbourne; Editing by Edwina Gibbs & Kim Coghill)

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Privacy groups ask Facebook to withdraw proposed policy changes

SAN FRANCISCO (Reuters) – Two privacy advocacy groups urged Facebook Inc on Monday to withdraw proposed changes to its terms of service that would allow the company to share user data with recently acquired photo-application Instagram, eliminate a user voting system and loosen email restrictions within the social network.

The changes, which Facebook unveiled on Wednesday, raise privacy risks for users and violate the company’s previous commitments to its roughly 1 billion members, according to the Electronic Privacy Information Center and the Center for Digital Democracy.

“Facebook’s proposed changes implicate the user privacy and terms of a recent settlement with the Federal Trade Commission,” the groups said in a letter to Facebook Chief Executive Mark Zuckerberg that was published on their websites on Monday.

By sharing information with Instagram, the letter said, Facebook could combine user profiles, ending its practice of keeping user information on the two services separate.

Facebook declined to comment on the letter.

In April, Facebook settled privacy charges with the U.S. Federal Trade Commission that it had deceived consumers and forced them to share more personal information than they intended. Under the settlement, Facebook is required to get user consent for certain changes to its privacy settings and is subject to 20 years of independent audits.

Facebook, Google and other online companies have faced increasing scrutiny and enforcement from privacy regulators as consumers entrust ever-increasing amounts of information about their personal lives to Web services.

Facebook unveiled a variety of proposed changes to its terms of service and data use polices on Wednesday, including a move to scrap a 4-year old process that can allow the social network’s roughly 1 billion users to vote on changes to its policies.

If proposed changes generate more than 7,000 public comments during a seven-day period, Facebook’s current terms of service automatically trigger a vote by users to approve the changes. But the vote is only binding if at least 30 percent of users take part, and two prior votes never reached that threshold.

The latest proposed changes had garnered more than 17,000 comments by late Monday.

Facebook also said last week that it wanted to eliminate a setting for users to control who can contact them on the social network’s email system. The company said it planned to replace the “Who can send you Facebook messages” setting with new filters for managing incoming messages.

That change is likely to increase the amount of unwanted “spam” messages that users receive, the privacy groups warned on Monday.

Facebook’s potential information sharing with Instagram, a photo-sharing service for smartphone users that it bought in October, flows from proposed changes that would allow the company to share information between its own service and other businesses or affiliates it owns.

The change could open the door for Facebook to build unified profiles of its users that include people’s personal data from its social network and from Instagram, similar to recent moves by Google Inc.

In January, Google said it would combine users’ personal information from its various Web services – such as search, email and the Google+ social network – to provide a more customized experience. The unified data policy raised concerns among some privacy advocates and regulators, who said it was an invasion of people’s privacy.

“As our company grows, we acquire businesses that become a legal part of our organization,” Facebook spokesman Andrew Noyes said in an emailed statement on Monday.

“Those companies sometimes operate as affiliates. We wanted to clarify that we will share information with our affiliates and vice versa, both to help improve our services and theirs, and to take advantage of storage efficiencies,” Noyes said.

(Reporting By Alexei Oreskovic; Editing by Richard Pullin)

Social Media News Headlines – Yahoo! News

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Tom Cruise Films Helicopter Scene in Empty Trafalgar Square

11/25/2012 at 05:15 PM EST

Tom Cruise in Trafalgar Square

FameFlynet

Back to work!

After spending Thanksgiving with daughter Suri, 6, Tom Cruise filmed scenes for the sci-fi action film All You Need Is Kill in London on Sunday.

The actor, who plays alien fighter Lt. Col. Bill Cage, landed in a helicopter in the middle of the usually bustling Trafalgar Square, which was shut down for the scene, in the heart of London.

Based on Hiroshi Sakurazaka's novel, the movie follows Cage as he battles the Mimics, a violent race of alien invaders, while stuck in a time loop.

Emily Blunt also stars in the film as Special Forces fighter Rita Vrataski, who according to Deadline.com, has destroyed more Mimics than anyone else on earth.

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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

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Asian shares edge higher on hopes for Greek deal

TOKYO (Reuters) - Asian shares inched up on Monday on hopes that Greece can avoid a near-term bankruptcy, with the market focusing on a euro zone finance ministers meeting later in the day, but a regional Spanish vote favoring separatist parties capped gains.

U.S. stock futures were down 0.3 percent, suggesting a soft Wall Street open, and European shares were seen falling, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> to open down as much as 0.3 percent. <.l><.eu><.n/>

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.2 percent to a two-week high.

It marked the sixth consecutive day of advances and comes after the euro and global shares climbed on Friday on expectations that an agreement will be reached soon to disburse aid for Greece, and after a rise in Germany's Ifo business climate index.

"There is optimism around in regards to the euro area's ability to achieve a deal on Greece," said Emma Lawson, senior currency strategist at the National Australia Bank.

But worries about the Spanish vote and the implications for Madrid's push for fiscal austerity helped the euro slip 0.1 percent to $1.2960, pulling back from a three-week high of $1.2991 reached on Friday.

Against the yen, however, the single currency hit a seven-month peak of 107.13.

The yen was near a 7-1/2-month low of 82.84 yen to the dollar hit last week. It has been weakening on expectations of further monetary policy easing with the likely advent of a new Japanese government next month.

The dollar <.dxy> inched up 0.1 percent, after falling to a three-week low of 80.128 against a basket of major currencies on Friday as risk appetite gained.

Australian shares <.axjo> rose 0.2 percent on gains in energy and mining stocks, but Hong Kong <.hsi> and Shanghai <.ssec> shares eased slightly.

Japan's Nikkei stock average <.n225> gained 0.8 percent after rising to a seven-month high earlier on Monday on views that a weaker yen will boost earnings for exporters. <.t/>

"Although some investors are cautious about the fast-paced gains in the Japanese market, they will likely stay buyers on the back of the improving trading environment in the global market," said Hiroichi Nishi, general manager at SMBC Nikko Securities.

EUROPE HOLDS KEY

On Sunday, separatists in the Spanish region of Catalonia won an election but failed to get the resounding mandate they need to push convincingly for a referendum on independence.

The win heightens concerns about a potential negative impact on the Spanish economy and the country's finances, as Catalonia accounts for 20 percent of the economy and provides the most tax revenue to the central government.

"While the result helps tone down the risk of the government being forced to give more autonomy to Catalonia in its fiscal policy, the underlying discomfort the province may be feeling about its big fiscal burden may persist," said Masafumi Yamamoto, chief FX strategist at Barclays in Tokyo.

He added that the result may weigh on the euro more when trading starts in Europe, where the euro's liquidity is far larger.

On Friday, European shares posted their best weekly gain so far this year on hopes for Greece and Germany's solid Ifo data, which followed firmer manufacturing reports from China and the United States released earlier last week.

London copper edged down 0.1 percent to $7,769.75 a metric ton (1.1023 tons) after rising for two weeks in a row. While signs of economic recovery in top consumer China helped support prices, China's official purchasing manufacturers' index due later in the week will be awaited for more confirmation of the trend.

"A positive PMI number should help a little bit, but we have not seen any significant improvement in the real economy yet," said Beijing-based metals analyst Wan Ling of commodities research house CRU Group.

The Thomson Reuters-Jefferies CRB index <.trjcrb>, a global commodities benchmark, rose to its highest close since October 23 on Friday -- its best weekly performance since mid-September with a 1.9 percent gain.

Spot gold eased 0.1 percent to $1,750.35 an ounce on Monday after rising above $1,750 for the first time in five weeks on Friday.

U.S. crude fell 0.5 percent to $87.88 a barrel and Brent eased 0.2 percent to $111.12.

Asian credit markets steadied, with the spreads on the iTraxx Asia ex-Japan investment-grade index barely moved from Friday levels.

(Additional reporting by Ayai Tomisawa in Tokyo, Ian Chua in Sydney and Melanie Burton in Singapore; Editing by Edwina Gibbs & Kim Coghill)

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As Rebels Gain, Congo Again Slips Into Chaos

GOMA, Democratic Republic of Congo — The lights are out in most of Goma. There is little water. The prison is an empty, garbage-strewn wasteland with its rusty front gate swinging wide open and a three-foot hole punched through the back wall, letting loose 1,200 killers, rapists, rogue soldiers and other criminals.

Now, rebel fighters are going house to house arresting people, many of whom have not been seen again by their families.

“You say the littlest thing and they disappear you,” said an unemployed man named Luke.

In the past week, the rebels have been unstoppable, steamrolling through one town after another, seizing this provincial capital, and eviscerating a chaotic Congolese Army whose drunken soldiers stumble around with rocket-propelled grenades and whose chief of staff was suspended for selling crates of ammunition to elephant poachers.

Riots are exploding across the country — in Bukavu, Butembo, Bunia, Kisangani and Kinshasa, the capital, a thousand miles away. Mobs are pouring into streets, burning down government buildings and demanding the ouster of Congo’s weak and widely despised president, Joseph Kabila.

Once again, chaos is courting Congo. And one pressing question is, why — after all the billions of dollars spent on peacekeepers, the recent legislation passed on Capitol Hill to cut the link between the illicit mineral trade and insurrection, and all the aid money and diplomatic capital — is this vast nation in the heart of Africa descending to where it was more than 10 years ago when foreign armies and marauding rebels carved it into fiefs?

“We haven’t really touched the root cause,” said Aloys Tegera, a director for the Pole Institute, a research institute in Goma.

He said Congo’s chronic instability is rooted in very local tensions over land, power and identity, especially along the Rwandan and Ugandan borders. “But no one wants to touch this because it’s too complicated,” he added.

The most realistic solution, said another Congo analyst, is not a formal peace process driven by diplomats but “a peace among all the dons, like Don Corleone imposed in New York.”

Congo’s problems have been festering for years, wounds that never quite scabbed over.

But last week there was new urgency after hundreds of rebel fighters, wearing rubber swamp boots and with belt-fed machine guns slung across their backs, marched into Goma, the capital of North Kivu Province and one of the country’s most important cities.

The rebels, called the M23, are a heavily armed paradox. On one hand, they are ruthless. Human rights groups have documented how they have slaughtered civilians, pulling confused villagers out of their huts in the middle of the night and shooting them in the head.

On the other hand, the M23 are able administrators — seemingly far better than the Congolese government, evidenced by a visit in recent days to their stronghold, Rutshuru, a small town about 45 miles from Goma.

In Rutshuru, there are none of those ubiquitous plastic bags twisted in the trees, like in so many other parts of Congo. The gravel roads have been swept clean and the government offices are spotless. Hand-painted signs read: “M23 Stop Corruption.” The rebels even have green thumbs, planting thousands of trees in recent months to fight soil erosion.

“We are not a rebellion,” said Benjamin Mbonimpa, an electrical engineer, a bush fighter and now a top rebel administrator. “We are a revolution.”

Their aims, he said, were to overthrow the government and set up a more equitable, decentralized political system. This is why the rebels have balked at negotiating with Mr. Kabila, though this weekend several rebels said that the pressure was increasing on them to compromise, especially coming from Western countries.

On Sunday, rebel forces and government troops were still squared off, just a few miles apart, down the road from Goma.

The M23 rebels are widely believed to be covertly supported by Rwanda, which has a long history of meddling in Congo, its neighbor blessed with gold, diamonds and other glittering mineral riches. The Rwandan government strenuously denies supplying weapons to the M23 or trying to annex eastern Congo. Rwanda has often denied any clandestine involvement in this country, only to have the denials later exposed as lies.

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Nokia imaging chief to quit

HELSINKI (Reuters) – Nokia‘s long-time imaging chief Damian Dinning has decided to leave the loss-making cellphone maker at the end of this month, the company said in a statement.

The strong imaging capabilities of the new Lumia smartphone models are a key sales argument for the former market leader, which has been burning through cash while losing share in both high-end smartphones and cheaper handsets.

Nokia’s Chief Executive Stephen Elop has replaced most of the top management since he joined in late 2010 and Dinnig is the latest of several executives to leave.

Dinning did not want to move to Finland as part of the phonemakers’ effort to concentrate operations and will join Jaguar Land Rover to head innovations in the field of connected cars, he said on Nokia’s imaging fan site PureViewclub.com.

(Reporting By Tarmo Virki, editing by William Hardy)

Tech News Headlines – Yahoo! News

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