HSBC to probe ‘criminal’ accounts

















HSBC bank says it is looking into allegations that criminals have used offshore accounts at its Jersey operation for money laundering.













The bank issued a statement after the Daily Telegraph newspaper said it was at the centre of a major investigation by HM Revenue and Customs.


HSBC said it was investigating “an alleged loss of certain client data in Jersey as a matter of urgency”.


But it added it had not been contacted by HMRC or any other authority.


According to the Daily Telegraph, the tax authorities have obtained details of “every British client of HSBC in Jersey” based on information provided by a whistle-blower this week.


It is reported that the 4,000 offshore account holders include a well-known drug dealer living in Central America, bankers who face allegations of fraud and a man once dubbed London’s “number two crook”.


Controls issue


BBC business editor Robert Peston says: “It is really quite difficult to tell from this disclosure whether or not this is an example of HSBC yet again having, shall we say, laxer or weaker controls over who it takes money from.


“The American authorities do think HSBC was for too many years too prone, or in a sense, too easily duped by terrorists and criminals who wanted to launder money. We just don’t have enough information whether or not this is an another example of those weak controls.”


Our business editor says he has been told by HSBC that this appears to be a case of “whistle-blowers handing over bunches of bank names for whatever reasons”.


He adds: “They don’t think they will emerge from this investigation to be shown to be particularly lax in their controls.”


BBC News – Business



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Roger Waters plays with band of wounded veterans
















NEW YORK (AP) — Roger Waters honored wounded veterans in New York by performing with them at the annual Stand Up for Heroes benefit, Thursday night.


The founding member of Pink Floyd took to the stage of the Beacon Theater with 14 wounded soldiers he met recently at the Walter Reed Army Medical Center in Washington, D.C. He rehearsed with them at the hospital, and for the past few days in New York.













The event benefited the Bob Woodruff Foundation, which helps returning veterans and their families, and featured Waters, Bruce Springsteen, Ricky Gervais, Robin Williams, and others.


Before the show, Waters chatted with veterans and called the experience “fantastic.” He says he’s “looking forward to pulling for the rest of these guys with their comrades” during the healing process.


He says that he shares “enormous empathy with the men.”


“I lost my grandfather in 1916 and my father in 1944, so I’ve been around the sense of loss and what loss from war can do to people,” Waters said.


“I never talk about the politics because it’s not relevant to me. I’m not interested in it,” he said. “What I am interested in is the burdens these guys bear and would never question motive or even dream of talking about any of the politics.”


He added: “If any of us have a responsibility in our lives it is to tear down the walls of indifference and miscommunication between ourselves and our fellow men.”


Waters said he rehearsed with many of the soldiers at the hospital in between their medical procedures. Before the show, he walked the red carpet with Staff Sgt. Robert Henline, who was not in the band. In 2007, Henline was the sole survivor of a roadside bombing north of Baghdad. As a result, he suffered burns over 38 percent of his body and his head was burned to the skull.


Henline, who fought for his life after the attack, has endured more than 40 surgeries.


Still, he maintains a sense of humor. On the open red carpet on a chilly night, Waters pushed closer to Henline for warmth.


“Get next to the burn guy. I’m good. I’m heated up,” Henline joked.


No surprise. The retired soldier says he’s been doing stand-up comedy for the past year and a half.


Waters performed three songs with the veterans, including the Pink Floyd classic, “Wish You Were Here.”


Waters said he didn’t think there would be a reunion with his former band.


“I think David (Gilmour) is retired by and large. I shouldn’t speak for him. But that’s the impression I get.”


Waters then added: “Hey whatever. All good things come to an end.”


While his mammoth tour of “The Wall” ended this summer, Waters promised the theatrical version would hit the Broadway stage in the near future.


The Bob Woodruff Foundation has supported more than 1 million veterans, service members, and their families since it began in 2008.


_____


John Carucci covers entertainment for The Associated Press. Follow him at —http://www.twitter.com/jcarucci_ap


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Ghana building collapse traps dozens, kills 1
















ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.


Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.













The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.


Other officials told The Associated Press that the death toll was likely to rise.


An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.


A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.


“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.


President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.


The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.


The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.


Africa News Headlines – Yahoo! News



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BlackBerry 10 maker dismisses ‘dead on arrival’ comment about new device
















OTTAWA – Research In Motion turned to core supporters Wednesday in Ottawa, hoping to upsell its new BlackBerry 10 operating system as the company’s shares fell after a biting report from a securities analyst.


The company (TSX:RIM) invited federal politicians and their staff to a sneak preview of the yet-to-be-released devices, an event that RIM’s Canadian managing director acknowledged was a bit like preaching to the converted.













“Government is a critical constituency for RIM and for BlackBerry,” said Andrew MacLeod.


“It’s where we got our start, in many ways, and it’s an area that we are going to continue to innovate and deliver value.”


RIM shares fell by more than eight per cent Wednesday to $ 8.23 after a report from an analyst at Pacific Crest Securities warned the BlackBerry 10 software may be “dead on arrival.”


“We believe BB10 is likely to be DOA,” James Faucette was quoted saying in a research note obtained by Bloomberg. “We expect the new operating system to be met with a lukewarm response at best.”


MacLeod dismissed Faucette as “not a fan” and as just one voice in a varied landscape of people looking at the new platform.


“Two other analysts came out this week with some very, very positive reactions to the platform and some positive reactions to our prospects,” MacLeod told The Canadian Press.


“We’re focused on delivering value and innovating, and we think if we do that, then we’ll get the rest of the stuff to follow.”


The Waterloo, Ont.-based company’s stock had been on a rally of late, lifting steadily in the past week to a four-month high. Wednesday’s tumble nearly wiped out all of those gains.


Besides showcasing the BB10 for politicos and business people, RIM was planning to announce Thursday how it would migrate some of the key security features of its current suite of devices to the new model.


“We’re really going to make sure the core DNA — what made Blackberry so attractive to government customers, to enterprise customers — will of course be a key part of the BlackBerry 10 and architecture and system moving forward,” said MacLeod.


Meanwhile, the company said it had won U.S. security clearance for devices based on the new platform.


RIM announced early Thursday that it had received the crucial Federal Information Processing Standard certification, known as FIPS 140-2.


The certification would enable government agencies to deploy the new devices.


“This is the first time BlackBerry products have been FIPS certified ahead of launch,” RIM said.


Many political staffers, journalists and others swear by the BlackBerry over other devices for one main reason —its keyboard, which can make writing on the fly fast and easy compared with the touch screens offered by RIM’s competitors.


The BB10 line will include a touch screen option, but RIM maintains that its operating system will make typing faster than on other smart phones.


The company said earlier this month that its new BlackBerry smartphones were being tested by 50 phone carriers around the world.


RIM aims to have the new devices on store shelves in the first quarter of 2013, after the crucial holiday tech sales season.


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Novartis says expects to have 14 new blockbusters by 2017
















ZURICH (Reuters) – Swiss drugmaker Novartis said its pharmaceutical division could produce 14 or more blockbusters by 2017 as it bets on the success of its oncology pipeline, and heart and respiratory drugs.


Novartis said it had 139 projects in clinical development including more than 73 new molecular entities spread across a wide area of diseases, in a statement published ahead of an investor event in Boston later on Thursday.













Among the products it hails as its most promising are serelaxin and LCZ686 to treat patients with heart failure as well as drugs for psoriasis and multiple sclerosis.


Novartis said it plans to file serelaxin for regulatory approval in the United States and Europe in early 2013.


(Reporting by Caroline Copley)


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DIY homes ‘should be made easier’





























Homeowners should not consider it a “pie in the sky dream” to build their own property, according to the new housing minister.


Mark Prisk told mortgage lenders that self-built homes should be considered as one way to boost the UK housing market.


He said that only about 10% of new UK homes were self-built, compared with 60% in France and Germany.


But homebuilders and lenders said this would only ever be a niche market.


Building fund


Self-build has become more prominent through television shows such as Grand Designs and generally they involve an owner buying a plot of land and then hiring an architect to design a property.


Mr Prisk reaffirmed the government’s push for self-built homes at a conference in London organised by the Council of Mortgage Lenders.


He said that the UK was also well behind countries such as the US where 45% of new homes were self-built.


Continue reading the main story

A group of residents in Ashley Vale, in Bristol, were worried about the redevelopment of a former scaffolding site in the area.


So they formed a not-for-profit community action group which bought and developed the site itself.


When building work began on 20 self-built homes in 2001, the people involved had no trouble raising the finance.


Borrowing became more difficult when five bungalows were built about five years ago.


But in the third phase of the project two years ago, they only secured mortgages for flats and a community space when the building work was completed.


Despite the increasing difficulty in securing finance, Johanna Nicholls, who chairs the group, said that they were looking for new plots to build more affordable homes.



The government has set aside a £30m investment fund to promote self-build. Sites in North East Derbyshire and Peterborough have recently been approved for a slice of the funding.


The opportunity for individuals and communities to build their own homes was now a realistic option, he said, and lenders should give them the chance.


“I’m not pretending self-build is the entire answer, but it is an element I want to encourage you to incorporate,” he told the audience of mortgage lenders.


‘Crisis’


He said that the number of self-build mortgage products had increased.


However, the fact that these still numbered just over 20 meant that many in the industry only regarded this as niche part of the market, and nothing like sufficient to make a dent in the housing shortage.


“We welcome everyone building houses,” said Stewart Baseley, of the Home Builders Federation.


“There is plenty of room on the pitch for all these balls to be kicked about. But self-build is not the solution that will solve the housing crisis.”


Mark Clare, group chief executive of Barratt Developments, the UK’s biggest housebuilder, said that self-built homes still needed to be financed and expertise needed to put them up.


He said that there would be a one million shortfall of homes by the end of the year.


Some 110,000 homes were being built, but 250,000 new households were being created, as people lived for longer and got married later.


“This is going to get worse before it gets better,” he said.


Mr Baseley said that three times as many homes were built in the 1950s and 1960s, about half of which were for council housing.


“We are in the midst of a housing crisis,” he said.


BBC News – Business



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“Ode to Joy” for Royal Philharmonic Society’s 200th
















LONDON (Reuters) – The British music society that commissioned Beethoven to write his Ninth Symphony and its “Ode to Joy” announced on Wednesday it will celebrate the society’s 2013 bicentenary by showing off its manuscript of the work on both sides of the Atlantic.


The Royal Philharmonic Society, founded in London in January, 1813, also will sponsor performances of Beethoven’s last symphony, splash out on commissions of new music and will digitize its archive held at the British Library, the society announced in the London pub where its founders used to meet.













“Some of the most famous works in the classical repertoire were either commissioned by the Philharmonic Society or premiered in the UK at Philharmonic Society concerts,” John Gilhooly, the society’s Irish chairman, told reporters.


“Works by Beethoven, Mendelssohn, Schumann, Rachmaninov, Sibelius, Wagner, Brahms, Bruckner and Delius, Debussy and Shostakovich, to name but a few,” Gilhooly continued, adding that the society had commissioned “over 60 composers in the last decade alone”.


The society will participate in exhibits in New York and London featuring manuscript versions of Beethoven’s last symphony which contains the “Ode to Joy” that has become a theme song for world peace and freedom.


The society’s archives record that in 1817 it paid Beethoven 50 guineas for the work. The society, which is not publicly funded and is financed by donations, got the “royal” tag in its centenary year.


Gilhooly said a much-photographed and copied bust of Beethoven that the society owns would be making a return visit to concert stages after having been squirreled away in the RPS headquarters for most of the past 30 years.


“It’s going to be a bit like the Olympic torch,” Gilhooly said. “It’s busted out in preparation for a grand tour.”


Founded by a group of professional musicians to make classical music available to a wider audience, the RPS said it was commissioning 16 new works by such prominent composers as Harrison Birtwistle, Wolfgang Rihm and Magnus Lindberg, some of them in conjunction with the Britten-Pears Foundation which is celebrating the centenary of British composer Benjamin Britten.


“I very much admire that they are sponsoring young composers, older composers, making it possible that music, even avant garde or little known music, is written and performed,” Alfred Brendel, one of the world’s most distinguished pianists and a RPS gold medal recipient, who retired from public performance several years ago, told Reuters at the launch event.


The exhibit of letters and manuscripts will be mounted in cooperation with the British Library and the Morgan Library and the Juilliard School of music in New York, which holds another copy of the Beethoven Ninth.


The American and British manuscripts of the symphony, annotated by Beethoven, will be seen together side by side for the first time since 1824 in New York later in the year, the society said.


(Editing by Paul Casciato)


Music News Headlines – Yahoo! News



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Canada firms to capitalize on nuclear trade with India
















NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.


Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.













“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.


A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.


This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.


India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.


Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).


It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.


However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.


PROBABLY BEATING AUSTRALIA


Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.


Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.


“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.


Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.


“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”


Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.


“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.


He also said it should open up the market to service the existing reactors in India.


Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.


Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.


“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.


($ 1 = C$ 0.9965)


(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)


Canada News Headlines – Yahoo! News



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Move over, Obama; Twitter had a big night too
















WASHINGTON (Reuters) – President Barack Obama called it – in less than 140 characters.


Around 11:15 pm EST, just as the networks were beginning to call the race in his favor, Obama took to Twitter to proclaim himself the winner over Republican candidate Mitt Romney.













“This happened because of you. Thank you,” Obama tweeted.


That the president would take his message to Twitter before taking the stage in Chicago underscored the tremendous role social media platforms like Twitter played in the 2012 election.


Minutes later, with the race called in his favor, Obama tweeted again.


“We’re all in this together. That’s how we campaigned, and that’s who we are. Thank you. -bo.”


Through the course of a long and bitter presidential campaign, Twitter often served as the new first rough draft of history.


Top campaign aides used the Internet tool to snipe at each other, the candidates used it to get out their messages and political reporters used it to inform and entertain.


On Election Night, the tweets were flowing.


By 10 p.m. EST, with the race still up for grabs, Twitter announced it had broken records.


There were more than 31 million election-related tweets on Tuesday night, making Election Night “the most tweeted about event in U.S. political history,” said Twitter spokeswoman Rachael Horwitz. Between 6 p.m. and midnight EST, there were more than 23 million tweets.


Horwitz noted the previous record was 10 million, during the first presidential debate on October 3.


“Twitter brought people closer to almost every aspect of the election this year,” Horwitz said. “From breaking news, to sharing the experience of watching the debates, to interacting directly with the candidates, Twitter became a kind of nationwide caucus.”


In the moments following Obama’s win, Twitter was in a frenzy, with a peak of 327,000 tweets a minute.


Another tweet from Obama, one that read: “Four more years” and showed a picture of him hugging his wife, became the most retweeted tweet in the history of the site.


‘FIRST TWITTER ELECTION’


Love it or hate it, Twitter and its role in politics appears to be here to stay.


For Rob Johnson, campaign manager for Texas Republican Governor Rick Perry’s failed presidential run, Twitter “changed the dynamic this cycle and will continue to play a bigger role in years to come.”


“We no longer click refresh on websites or wait for the paper boy to throw the news on our porch,” Johnson said. “We go to Twitter and learn the facts before others read it.”


The 2012 race was the first where Twitter played such an important role. Top campaign advisers like Romney’s Eric Fehrnstrom and Obama’s David Axelrod engaged in Twitter battles through the year.


With many political reporters and campaign staff on Twitter and Facebook, social media websites were often the first place news broke. Some top news stories were kept alive or thrust into the headlines after becoming hot topics on Twitter.


“It was one heckuva echo chamber,” Dante Scala, a political science professor at the University of New Hampshire, said in an email.


Johnson said Twitter was the driving force behind some of the year’s biggest political news stories.


“The twitterverse shapes the news and public opinion,” Johnson said. “The Internet is truly a real and powerful tool in politics.”


In future elections, candidates and their campaign staffs will have to include social media as another battleground, Democratic strategist Jamal Simmons said.


“This was the first Twitter election and social media is now fully a part of our election mechanics,” Simmons said. “Going forward candidates must have an aggressive social media strategy if they want to win.”


(Editing by Mary Milliken and Peter Cooney)


Social Media News Headlines – Yahoo! News



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Election over but final Florida results still not in
















MIAMI (Reuters) – Americans gave President Barack Obama a second term in office, but it still wasn’t clear early on Wednesday whether the president won the key battleground state of Florida.


The vote in the state, which introduced the terms “hanging chads” and “butterfly ballots” to the masses in its historic 2000 presidential election, was too close to call long after Republican challenger Mitt Romney conceded his loss.













Early Wednesday morning Obama was edging out Romney by about 45,000 votes, or 0.53 percentage points, out of a total of 8.27 million votes cast in Florida, with about 99 percent of the votes counted.


“It’s 1:42 in the morning and I just heard there are still people voting in Miami-Dade County,” tweeted Chris Cate, spokesman for Florida‘s Secretary of State, who is responsible for elections. “Kudos to their commitment to voting!”


The head of elections for Florida‘s Miami-Dade County, which accounts for about 10 percent of the state’s 12 million registered voters, said final results would not be available until Wednesday afternoon.


Until then, it may not be totally clear whether Obama won the state, which he carried in 2008.


At one church in Miami hundreds of voters were still in line when polls were due to close at 7 p.m.


“I believe that Obama is doing a good job and he’s going to do a better job,” said Michele Adriaanse, 59, who arrived to vote at 6.30 p.m. and finally cast her ballot shortly before midnight. “If we don’t give him the chance, things will go back to how they were,” she added.


Miami-Dade Supervisor of Elections Penelope Townsley told reporters the delay was due to “an extremely high volume of absentee ballots” and because long lines forced some precincts to remain open hours after their official closing time.


Florida accounts for 29 of the 270 votes in the electoral college a candidate needs to win the presidency. That is more than any other swing state, and by many accounts the fourth-largest state was a must-win for Romney.


Most recent polls had given Romney an edge over the incumbent in Florida, where the economic recovery has been slower than in other states and long-term unemployment has reached record highs.


But registered Democrats outnumber registered Republicans in Florida by about 5 percentage points and Romney faced multiple headwinds in the state.


A plan by Romney’s vice presidential running mate, U.S. Representative Paul Ryan, to change the Medicare health insurance program for seniors was among the factors often cited as holding back Romney’s campaign in the retiree-heavy state.


He also suffered from an inability to make inroads among Hispanic voters, outside of the state’s conservative Cuban-American community.


Florida propelled former President George W. Bush to a wafer-thin victory in 2000 when he won the state by 537 votes.


SLOW-GOING


Complaints about voting procedures, long lines to cast ballots, restrictions on early voting and some possible irregularities have been heard repeatedly across Florida. There have been no claims of anything widespread or problematic enough to cast doubt on the credibility of the Florida outcome.


It also was not immediately whether U.S. Representative Allen West – the firebrand Republican lawmaker known for his blistering attacks on Obama and other Democrats – had won one of the country’s most closely watched congressional races.


West, a darling of the conservative Tea Party movement, had amassed one of the largest campaign war chests among House Republicans. His known supporters included organizations like Americans for Prosperity, the conservative political advocacy group funded by the billionaire Koch brothers.


But he faced a tough re-election challenge against Democrat Patrick Murphy, who had hammered the first-term Republican for the intransigence that led to gridlock in Washington.


Early Wednesday morning, West, 51, was trailing by 2,000 votes out of the 318,000 ballots cast.


Murphy, a 29-year-old businessman and political newcomer, had strong backing from party headquarters and was one of the best-funded Democratic challengers in the country.


A certified public accountant whose father runs a construction company in Miami, Murphy turned the race into a referendum on West, calling the Republican an extremist member of a “do-nothing” Congress.


The battle in Florida‘s new 18th district was seen as a test of whether a high-profile – some say polarizing – conservative could win one of the biggest swing districts in a perennial swing state.


(Reporting by Tom Brown; Additional reporting by David Adams; Editing by Paul Simao)


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