C. African Republic leader faces rebel threat






DAMARA, Central African Republic (AP) — More than 30 truckloads of troops from Chad line the two-lane highway just outside of Damara, supporting Central African Republic government forces who want to block a new rebel coalition from reaching the capital.


In a display of force, the turbaned fighters hold their rocket-propelled grenades and other weapons they threaten to use if the rebels seeking to oust President Francois Bozize push this far south.






Gen. Jean Felix Akaga, who heads the regional force known as FOMAC, says a push on Damara, just 75 kilometers (45 miles) north of the capital, would be “a declaration of war” on the 10 Central African states.


“For us, Damara is the red line that the rebels cannot cross,” Akaga said Wednesday. “If they attack Damara, we will attack.”


The United Nations called for talks between the government and rebels and the Security Council scheduled closed consultations on the Central African Republic on Thursday afternoon.


The multinational force brought journalists up to Damara, where they touted the strength of the Chadian troops, who along with forces from Republic of Congo and Gabon are helping to stabilize the area.


The rebels, though, appear to be holding their positions after taking a string of towns including Sibut, which is 70 miles (112 kilometers) further north from Damara.


Back in 2003, troops under Bozize seized the capital amid volleys of machine-gun and mortar fire, and he then dissolved the constitution and parliament. Now a decade later it is Bozize who himself could be ousted from power.


On Wednesday, he announced through a decree read on state radio that he was dismissing his son, Francis, as defense minister. Chief of Staff Guillaume Lapo also was being replaced.


The president already has promised to form a coalition government with rebels and to negotiate without conditions. It’s a sign of how seriously Bozize is threatened by the rebel groups who call themselves Seleka, which means alliance in the Sango language.


Bozize says there’s one point not up for negotiation: he does not intend to leave office before his term ends in 2016.


“We can’t destroy the country. I don’t think that a transition is a good solution for the rebels, for Central African Republic or for the international community,” said Cyriaque Gonda, a spokesman for the political coalition behind Bozize.


But mediators for the government and others note the rebels — an alphabet soup of acronyms in French, UFDR, CPJP, FDPC and CPSK — want Bozize gone. And that’s the only issue the disparate group seems unified on. Seleka is a shaky alliance that lumps together former enemies.


In September 2011, fighting between the CPJP and the UFDR left at least 50 people dead in the town of Bria and more than 700 homes destroyed.


“Even if they show unity in the military action, we know that they are politically very disunited, the only thing that holds them together is the opposition to the current president,” said Roland Marchal, a Paris-based expert on Central African Republic. “If they take control of the capital I think that divisions would appear quickly.”


Gonda, who has negotiated on behalf of the government with the rebels, says some of them couldn’t even accept sitting together as recently as 2008.


Meanwhile, in some parts of the capital, Bangui, a city of 700,000, life continued as normal, while in others the military buildup was evident.


Trucks full of soldiers bounced on rutted roads dotted with shacks where people can charge mobile phones. Police officers stopped vehicles at intersections. Troops from neighboring nations have arrived including about 120 soldiers each from Republic of Congo and Gabon to help stabilize the area between rebel and the government forces.


In the Bimbo neighborhood, traders went about their business, selling everything from leafy greens to meat at roadside stands.


“We don’t support what the rebels are doing,” said banana farmer Narcisse Ngo, as a young boy played nearby with a monkey corpse for sale along with other meat. “They should be at the table negotiating without weapons. We are all Central Africans.”


Bozize, who seized power while the democratically elected president was traveling outside the country, managed to win elections in 2005 but in the years since he has faced multiple low-level rebellions that have shattered security across the northern part of this large but desperately poor country.


He won the 2011 election with more than 64 percent of the vote, though the United States said the voting was “widely viewed as severely flawed.” The U.S. evacuated its diplomats from Bangui last week.


The most prominent among the rebel groups in Seleka is the UFDR, or Union of Democratic Forces for Unity.


Human Rights Watch, which has documented abuses by both government forces and rebel groups operating in the country’s north, says the UFDR rebellion “has its roots in the deep marginalization of northeastern CAR, which is virtually cut off from the rest of the country and is almost completely undeveloped.”


The rebels, though, also have included some of Bozize’s former fighters who helped bring him to power in 2003 but later accused him of failing to properly pay them, among other grievances, Human Rights Watch says.


For the people now caught in the middle, they want life to return to normal.


“Everyone is suffering here — we have nothing to eat,” said Daniel Ngakou, 55, as he watched the Chadian troops patrol his hometown of Damara. “The women are searching in the bush all day for food. We just don’t know what will happen.”


The United Nations called on the government and the rebels Wednesday to focus on dialogue that can avert violence and lead to a peaceful resolution of the conflict and respect for the 2008 Libreville Comprehensive Peace Agreement. That deal was signed by the government and three major rebel groups.


U.N. spokesman Martin Nesirky reiterated the U.N. Security Council’s call last week for all parties to refrain from any acts of violence against civilians, respect human rights and seek a peaceful solution.


“We welcome regional efforts to seek a political solution and reinforce security,” Nesirky told reporters at U.N. headquarters in New York.


While the United Nations has temporarily withdrawn its staff from Central African Republic, Nesirky said the world body remains engaged in efforts to resolve the crisis.


He said U.N. special representative Margaret Vogt “has remained in close dialogue with the key parties in the Central African Republic and the region and has offered support to political negotiations,” he said.


___


Associated Press writer Oleg Cetinic in Paris and Edith M. Lederer at the United Nations contributed to this report.


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Poll: Would you buy a blue, pink or yellow iPhone 5S?









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Bayer’s Nexavar meets goal in thyroid cancer trial






FRANKFURT (Reuters) – German drugmaker Bayer said its drug Nexavar reached a goal of improving the survival of patients with a certain type of thyroid cancer in a late-stage trial.


It said on Thursday it plans to submit data from the trial as the basis for marketing approval of Nexavar to treat radioactive iodine refractory differentiated thyroid cancer.






(Reporting by Maria Sheahan)


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DoubleLine launches stock management division






NEW YORK (Reuters) – DoubleLine Capital LP, the $ 53 billion firm run by star bond investor Jeffrey Gundlach, said on Wednesday it is now managing stock portfolios in a new division called DoubleLine Equity LP.


The firm, which surpassed $ 50 billion in bond assets last year after launching in 2009, said in a news release that it has tapped former TCW Group Inc portfolio managers Brendt Stallings and Husam Nazer to expand its stock division.






In an interview on Wednesday, Gundlach, DoubleLine‘s chief executive officer and chief investment officer, said stock mutual fund strategies suffer from a lack of new ideas.


“We think the equity business is ripe for creative thinking,” he said.


Gundlach said he plans to start with one or two mutual funds that offer a strategy focusing on U.S. stocks, and quickly follow with a hedge fund whose strategy would focus on “best ideas” in international stock investing.


“We’re really not prepared to do a lot of individual stock selection outside of the United States,” he said.


Gundlach had hinted at the firm’s move into stocks in a webcast on September 11, citing the broad disinterest in equities and their potential as a hedge against inflation.


He said on Wednesday that some of the stock funds he plans to offer will have a strategy that focuses on specific sectors among small and mid-cap stocks, while others will have a broader strategy that could vary widely in its stock selection.


Gundlach said DoubleLine’s business plan had been to build the firm’s bond management side to between $ 50 billion and $ 60 billion in assets before diversifying into areas such as stocks, a goal it has achieved.


“This is our first move to diversify. There’s very likely to be one if not two more over the course of 2013,” Gundlach said. He said he is seeking to reach a maximum of about $ 10 billion in assets within DoubleLine’s equity division.


Gundlach has made pointed calls on stocks in the past, including one at the Ira Sohn investing conference in May to buy natural gas while betting on a decline in the shares of Apple Inc, the world’s most valuable technology company.


On Wednesday, Gundlach recommended trading the volatility in Apple’s stock price.


“Apple’s flopping around like a fish in a boat. When it has a big rally, you should probably sell it. When it goes down a lot, you should probably buy it,” he said, and reiterated a call he on CNBC in November that its stock price may drop to $ 425 a share. Apple’s stock was up 3.2 percent to $ 549.03 at the close of trading on Wednesday.


DoubleLine Total Return Bond Fund, the firm’s flagship, earned a return of 9.2 percent in 2012, beating 97 percent of other U.S. mortgage-focused funds, according to Lipper. The fund, which oversees $ 37.1 billion, took in $ 19.7 billion last year, making it the most popular mutual fund by asset growth.


Pacific Investment Management Co, the world’s largest bond fund manager with $ 1.92 trillion in assets as of September 30, 2012, began moving into equities when it launched its first actively managed stock mutual fund in 2010.


Gundlach told Reuters that his foray into stock investing could also come with a downturn in the stock market, which he said he could overcome through active management.


“There’s a really good argument that you could have a major correction in the S&P 500 in 2013,” he said. He cited the heavy influence of U.S. policymakers on markets.


Stallings and Nazer were previously group managing directors at TCW, the highest title for managers at the firm, where they oversaw $ 5 billion in assets in stock portfolios.


Gundlach founded DoubleLine after a nasty split with TCW, where he was fired as chief investment officer in December 2009. The two sued one another in 2010, but settled in December of that year without disclosing terms.


Private equity firm Carlyle Group struck a deal in August to buy a 60 percent stake in TCW from French bank Societe Generale. TCW management and employees will own the remaining 40 percent stake in the Los Angeles-based investment firm, which has $ 135 billion in assets.


DoubleLine, which is also based in Los Angeles, employs more than 80 people. Stallings and Nazer plan to hire at least five investment professionals this year, the news release said.


Nazer said in an interview on Wednesday that dividend-paying stocks in general and consumer staple stocks are particular bright spots.


(Reporting by Sam Forgione; Editing by Kenneth Barry and Mohammad Zargham)


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Jay-Z composing original score for “The Great Gatsby”






LOS ANGELES (TheWrap.com) – If you liked the music in the trailer for Baz Luhrmann‘s “The Great Gatsby,” you’ll be happy to hear Jay-Z isn’t just lending a few of his songs to the soundtrack, he’s composing the upcoming film’s entire original score.


The rapper is, apparently, hard at work to accomplish the task with another artist, who goes by the name The Bullitts.






The latter broke the news on Twitter in the early morning hours Sunday.


Jay-Z and myself have been working tirelessly on the score for the upcoming #CLASSIC ‘The Great Gatsby,’” Bullitts exclaimed. “It is too DOPE for words!”


Don’t expect the collaborators to start producing tunes from the Roaring Twenties. The trailer certainly indicates otherwise and Luhrmann mixed in modern music for “Romeo + Juliet,” as well as the musical period piece “Moulin Rouge!”


It appears the flappers in Luhrmann’s latest film will be dancing to a very different beat than what F. Scott Fitzgerald imagined while writing his classic novel.


The Great Gatsby,” starring Leonardo DiCaprio and Tobey Maguire, hits theaters on May 10.


Warner Bros. and Jay-Z‘s rep did not immediately respond to TheWrap’s request for comment.


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Israeli-Palestinian clashes erupt in West Bank






TAMOUN, West Bank (AP) — An arrest raid by undercover Israeli soldiers disguised as vegetable vendors ignited rare clashes in the northern West Bank on Tuesday, residents said, leaving at 10 Palestinians wounded.


Israeli army raids into Palestinian areas to seize activists and militants are fairly common. The raids are normally coordinated with Palestinian security forces, and suspects are usually apprehended without violence.






The clashes began early Tuesday after Israeli forces disguised as merchants in a vegetable truck arrested one man. Regular army forces then entered the town, prompting youths to hurl rocks to try to prevent more arrests.


Israeli forces fired tear gas, rubber bullets and live ammunition as youths set tires and bins on fire to block the passage of military vehicles. In several hours of clashes, dozens of masked youths hid behind makeshift barriers, hurling rocks and firebombs at soldiers.


Faris Bisharat, a resident of Tamoun, said 10 men were wounded, some by live fire. Bisharat said the wanted men belong to Islamic Jihad, a violent group sworn to Israel’s destruction. It wasn’t clear how many men Israeli forces sought to arrest. There were no immediate details on how seriously the 10 were hurt.


The Israeli military said it arrested a “terrorist affiliated with the Islamic Jihad terror group.” It said two soldiers were injured during the raid.


The fighting, which broke out in several parts of the town of some 8,000 people, were a rare, angry response. It was also unusual for Israeli forces to use live fire toward Palestinian demonstrators. Israel says it uses live fire only in extremely dangerous situations.


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All of 2012 in One 4-Minute Video






We realize there’s only so much time one can spend in a day watching new trailers, viral video clips, and shaky cell phone footage of people arguing on live television. This is why every day The Atlantic Wire highlights the videos that truly earn your five minutes (or less) of attention. Today:  


RELATED: ‘Roseanne’ Predicted Internet Addiction; A Weather Alert from Hell






Filmmaker Ryan James Yezak boiled down the biggest stories of 2012 into four minutes. And, yes, Honey Boo Boo made it in there:


RELATED: Even Batman Gets Tripped up by Apple Maps


RELATED: The Videos You Shouldn’t (and Probably Couldn’t) Try at Home


So, raise your hand if you knew Patrick Stewart and company were having this much fun behind the scenes at Star Trek: The Next Generation. 


RELATED: Here’s a Video of George Takei Reading ’50 Shades of Grey’


RELATED: Cookie Monster Batman and the Dog You Wish You Had


Marvel’s Stan Lee — the guy who created characters like the Amazing Spider-Man, Thor, the Incredible Hulk, Iron Man, and the X-Men — turned 90 the other day. In honor of him and his heroes, here are all his cameos from all of the Marvel movies he helped create: 


And, finally, it’s 2013 somewhere… right? Please take caution when announcing that news to this very excitable baby. Happy New Year!


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“Fiscal cliff” crisis heads to resolution in Congress






WASHINGTON (Reuters) – A months-long battle over the U.S. “fiscal cliff” headed to a close on Tuesday as the House of Representatives moved toward final approval of a bipartisan deal meant to prevent Washington from pushing the world’s biggest economy into recession.


The Republican-controlled House was expected to back a tax hike on the top U.S. earners shortly before midnight on Tuesday, ending weeks of high-stakes budget brinkmanship that threatened to spook consumers and throw financial markets into turmoil.






Approval of the bill would be a victory for President Barack Obama, who campaigned for re-election last November on a promise to raise taxes on the wealthiest but faced stiff opposition from congressional Republicans.


Republicans had earlier considered adding hundreds of billions of dollars in spending cuts after the bill had already passed the Senate with strong bipartisan support. That would have triggered further partisan warfare and pushed the crisis well past a self-imposed January 1 deadline.


But party leaders abandoned the effort after determining they lacked the votes.


“We’ve gone as far as we can go and I think people are ready to bring it to a conclusion,” Republican Representative Jack Kingston of Georgia said. “We fought the fight.”


Rules Committee Chairman David Dreier, a Republican, predicted the House would back the Senate bill, which also postpones for two months $ 109 billion in spending cuts on military and domestic programs set for 2013.


The bill easily cleared a procedural hurdle by a bipartisan vote of 408 to 10.


Lawmakers have struggled to find a way to head off across-the-board tax hikes and spending cuts that began to take effect at midnight, a legacy of earlier failed budget deals that is known as the fiscal cliff.


Strictly speaking, the United States went over the cliff in the first minutes of the New Year because Congress failed to produce legislation to halt $ 600 billion of tax hikes and spending cuts scheduled for this year.


TAX HIKES FOR WEALTHIEST


While many Republicans were uneasy with the tax hikes and wanted more spending cuts in the bill, they seemed to realize that the fiscal cliff would begin to damage the economy once financial markets and federal government offices returned to work on Wednesday. Opinion polls show the public would blame Republicans if a deal were to fall apart.


House Republicans had earlier considered adding $ 330 billion in spending cuts over 10 years to the Senate bill, which raises taxes on the wealthiest U.S. households by $ 620 billion over the same period.


But Senate Democrats refused to consider any changes to their bill, which passed 89 to 8 in a rare display of unity early Tuesday.


That measure, which passed the Senate at around 2 a.m., would raise income taxes on families earning more than $ 450,000 per year and limit the amount of deductions they can take to lower their tax bill.


Low temporary rates that have been in place for the past decade would be made permanent for less-affluent taxpayers, along with a range of targeted tax breaks put in place to fight the 2009 economic downturn.


However, workers would see up to $ 2,000 more taken out of their paychecks annually with the expiration of a temporary payroll tax cut.


The non-partisan Congressional Budget Office said the Senate bill would increase budget deficits by nearly $ 4 trillion over the coming 10 years, compared to the budget savings that would occur if the extreme measures of the cliff were to kick in.


But the bill would actually save $ 650 billion during that time period when measured against the tax and spending policies that were in effect on Monday, according to the Committee for a Responsible Federal Budget, an independent group that has pushed for more aggressive deficit savings.


(Additional reporting by Rachelle Younglai, Thomas Ferraro and David Lawder; Writing by Andy Sullivan; Editing by Alistair Bell and Eric Beech)


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World stocks jump as US staves off ‘fiscal cliff’






BANGKOK (AP) — World markets registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world’s biggest economy into recession.


Benchmarks in Australia and Hong Kong boomeranged on the first trading day of the year, just before Congress passed an emergency measure to avert much of the impact of tax-and-spending changes that were so steep they were dubbed the “fiscal cliff.” Asian markets had slipped on Monday, fearing that negotiations over the measure might collapse.






Economists have been warning that the tax increases and spending cuts could take a chunk out of the U.S. economy; some experts predicted financial markets would plunge unless a clear-cut deal was reached.


Instead, markets in Asia and Europe blessed the stopgap measure approved late Tuesday in Washington to retroactively counter some of the “fiscal cliff” effects. The bill Congress passed awaits President Barack Obama‘s signature.


Hong Kong’s Hang Seng index shot up 2.9 percent to close at 23,311.89, its highest finish since June 1, 2011. Australia‘s S&P/ASX 200 surged 1.2 percent to close at 4,705.90, its strongest finish in 19 months. South Korea’s Kospi jumped 1.7 percent to 2,031.10.


European stocks jumped shortly after opening. Britain’s FTSE 100 rose 1.6 percent to 5,989.24. Germany’s DAX advanced 1.7 percent to 7,740.12 and France’s CAC-40 also gained 1.7 percent at 3,701.90.


“People are very relieved this morning because the U.S. is very likely to fix its own problems in the next few days, so investors in Hong Kong are pretty optimistic,” said Jackson Wong, vice president of Tanrich Securities in Hong Kong.


But some analysts said that expectations for a compromise were so low that any deal was viewed as positive.


“Among business leaders, I’m gonna say this deal isn’t enough to move the needle on confidence. It may improve consumer confidence a little, investors obviously are celebrating a tentative deal but you know how transitory investor confidence can become,” said Jack Ablin, chief investment officer at BMO Group.


Benchmarks in Singapore, Taiwan, India, the Philippines, Thailand and Indonesia posted solid gains. Markets in Japan and mainland China reopen Friday.


Uncertainty about the outcome of negotiations drove down Asian regional stocks Monday, the last trading day of 2012.


Australia’s S&P/ASX 200 fell 0.5 percent to close at 4,648.90, as investors sold off stocks to lock in profits. Hong Kong’s Hang Seng closed marginally lower. Singapore, New Zealand and India also declined. Japan and South Korea were closed.


The bill that Congress approved calls for higher taxes on incomes over $ 400,000 for individuals and $ 450,000 for couples, a victory for Obama. Earnings above those amounts would be taxed at a rate of 39.6 percent, up from the current 35 percent. It also delays for two months $ 109 billion worth of across-the-board spending cuts that had been set to start affecting the Pentagon and domestic agencies this week.


Lorraine Tan, director at Standard & Poor’s equity research in Singapore, said she believes U.S. growth in 2013 will be able to offset the impact of the tax increases and that companies would feel freer to spend now that the U.S. has taken a step back from the edge of the cliff.


Companies “can start to move ahead with any expansion plans they may have,” Tan said. “You’ll see some of that pent-up spending in 2013. And I think there’s a lot of relief related to that.”


Even if Washington bypasses the fiscal cliff, the next crisis is just around the corner, in late February or early March, when the government reaches a $ 16.4 trillion ceiling on the amount of money it can borrow.


Republicans say they won’t go along with raising the limit on government borrowing unless the increase is matched by spending cuts to help attack long-term debt. Failing to raise the debt ceiling could lead to a first-ever U.S. default that could roil financial markets and shake worldwide confidence in the United States.


“Republicans vow not to raise the limit without sharp cuts in spending and Obama vows not to cut spending without further tax hikes. Two more months of shenanigans and waffling / seasick markets? It certainly looks that way,” analysts at DBS Bank Ltd. in Singapore said in a market commentary.


U.S. stocks shot higher Monday on the belief that lawmakers would work out a deal. The Dow Jones industrial average rose 1.3 percent to 13,104.14. The Standard & Poor’s 500 rose 1.7 percent to 1,426.19. The Nasdaq composite index rose 2 percent to 3,019.51.


Political gridlock has been rattling U.S. markets and shaking consumer and business confidence the past two years.


To end a 2011 standoff over raising the federal debt limit, lawmakers agreed to a Jan. 1, 2013 deadline to reach a deal over taxes and spending. If there was no agreement, more than $ 500 billion in tax increases would hit the economy in 2013 alone, along with $ 109 billion in cuts from the military and domestic spending programs — hence the fiscal cliff.


After a fight over raising the debt limit last year, the credit rating agency Standard & Poor’s took the unprecedented step of lowering the U.S. government’s AAA bond rating because of the lack of a credible plan to reduce the federal government’s debt.


___


Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson


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LA photographer killed while shooting Bieber’s car






LOS ANGELES (AP) — Police say a paparazzo was hit by a car and killed after taking photos of Justin Bieber‘s white Ferrari on a Los Angeles street.


Los Angeles police Officer James Stoughton says the photographer, who was not identified, died at a hospital shortly after the crash Tuesday evening. Stoughton says Bieber was not in the Ferrari at the time.






The sports car was parked on the side of Sepulveda Boulevard near Getty Center Drive after a traffic stop. The photographer was struck as he walked across the boulevard after taking pictures.


Stoughton says no charges are expected to be filed against the motorist who hit the man.


A call to a spokesperson for the singer was not immediately returned Tuesday night.


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