HSBC ‘to pay $1.9bn’ in US deal

10 December 2012 Last updated at 19:30 ET

HSBC is to pay US authorities $ 1.9bn (£1.2bn) in a settlement over money-laundering, say reports, the largest ever in such a case.

The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under US sanctions.

Earlier this year HSBC admitted having poor money laundering controls following a US Senate investigation.

Last month announced it had set aside $ 1.5bn to cover the costs of any settlement or fines.

The deal could be announced as early as Tuesday, the Wall Street Journal reports.

It follows the announcement of a similar but much smaller settlement with UK-based Standard Chartered bank, which will pay $ 300m in fines for violating US sanction rules.

The cases are seen as part of a crackdown on money laundering and sanctions violations being led by federal government agencies and New York state authorities.

The $ 1.9bn sum in the HSBC settlement is expected to include around $ 1.25bn forfeited by HSBC – the largest amount ever paid out in such a case – and a $ 650m civil fine.

The bank will also admit charges of violating bank secrecy laws and the Trading With the Enemy Act, reports suggest.

Senate criticism

The settlement had been widely expected following a report by the US Senate, published earlier this year, that was heavily critical of HSBC’s money laundering controls.

The report suggested HSBC accounts in Mexico and the US were being used by drug barons to launder money.

It cited examples including the transfer of $ 7bn between HSBC’s Mexican and US subsidiaries between 2007 and 2008, made despite Mexico’s reputation as a centre of drug smuggling.

It also said HSBC regularly circumvented restrictions on dealings with Iran, North Korea, and other states under US sanctions.

HSBC admitted its money laundering controls were not strong enough following the Senate report.

On Tuesday the London-based multinational announced it had appointed a former US official to work as its head of financial crime compliance – a new position.

Bob Werner was previously the head of the US Treasury’s Office of Foreign Assets Control (OFAC) – the agency responsible for enforcing the US sanctions on countries including Iran.

He will be responsible for beefing up HSBC’s anti money laundering and sanctions compliance systems.

It is unclear what impact the case will have on HSBC’s business. The bank is the biggest in Europe by market capitalisation, and made pre-tax profits of $ 12.7bn for the first six months of 2012.

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EU leaders in Norway to pick up Nobel Peace Prize

OSLO, Norway (AP) — European Union leaders on Sunday hailed the achievements of the 27-nation bloc, but acknowledged they need more integration and authority to solve problems, including its worst financial crisis, as they arrived in Norway to pick up this year’s Nobel Peace Prize.

Conceding that the EU lacked sufficient powers to stop the devastating 1992-95 Bosnia war, European Commission President Jose Manuel Barroso said that the absence of such authority at the time is “one of the most powerful arguments for a stronger European Union.”

Barroso spoke to reporters with EU Council President Herman Van Rompuy and the president of the EU Parliament, Martin Schulz, in Oslo, where the three leaders were to receive this year’s award, granted to the European Union for fostering peace on a continent ravaged by war.

Nobel committee chairman Thorbjoern Jagland will present the prize, worth $ 1.2 million, at a ceremony in Oslo City Hall, followed by a banquet at the Grand Hotel, against a backdrop of demonstrations in this EU-skeptic country that has twice rejected joining the union.

About 20 European government leaders, including German Chancellor Angela Merkel, French President Francois Hollande and British Deputy Prime Minister Nick Clegg, will be joining the ceremonies. They will be celebrating far away from the EU’s financial woes in a prosperous, oil-rich nation of 5 million on the outskirts of Europe that voted in 1972 and 1994 in referendums to stay out of the union.

The decision to award the prize to the EU has sparked harsh criticism, including from three peace laureates — South African Archbishop Desmond Tutu, Mairead Maguire of Northern Ireland and Adolfo Perez Esquivel from Argentina — who have demanded the prize money not be paid out this year. They say the bloc contradicts the values associated with the prize because it relies on military force to ensure security.

The leader of Britain’s Independence Party, Nigel Farage, in a statement described rewarding the EU as “a ridiculous act which blows the reputation of the Nobel prize committee to smithereens.”

Hundreds of people demonstrated against this year’s prize winners in a peaceful torch-lit protest that meandered through the dark city streets to Parliament, including Tomas Magnusson from the International Peace Bureau, the 1910 prize winner.

“This is totally against the idea of Alfred Nobel who wanted disarmament,” he said, accusing the Nobel committee of being “too close to the power” elite.

Dimitris Kodelas, a Greek lawmaker from the main opposition Radical Left party, or Syriza, said a humanitarian crisis in his country and EU policies could cause major rifts in Europe. He thought it was a joke when he heard the peace prize was awarded to the EU. “It challenges even our logic and it is also insulting,” he said.

The EU is being granted the prize as it grapples with a debt crisis that has stirred deep tensions between north and south, caused soaring unemployment and sent hundreds of thousands into the streets to protest austerity measures.

It is also threatening the euro — the common currency used by 17 of its members — and even the structure of the union itself, and is fuelling extremist movements such as Golden Dawn in Greece, which opponents brand as neo-Nazi.

Barroso acknowledged that the current crisis showed the union was “not fully equipped to deal with a crisis of this magnitude.”

“We do not have all the instruments for a true and genuine economic union … so we need to complete our economic and monetary union,” he said, adding that the new measures, including on a banking and fiscal union, would be agreed on in coming weeks.

He stressed that despite the crisis all steps taken had been toward “more, not less integration.”

Van Rompuy was optimistic saying that EU would come out of the crisis stronger than before. “We want Europe to become again a symbol of hope,” he said.

The EU says it will donate the prize money to projects that help children in conflict zones and will double it with EU funds.

The European Union grew from the conviction that ever-closer economic ties would ensure century-old enemies like Germany and France never turned on each other again, starting with the creation in 1951 of the European Coal and Steel Community, declared as “a first step in the federation of Europe.”

In 60 years it has grown into a 27-nation bloc with a population of 500 million, with other nations eagerly waiting to join, even as its unity is being threatened by the financial woes.

While there have never been wars inside EU territory, the confederation has not been able to prevent European wars outside its borders. When the deadly Balkans wars erupted in the 1990s, the EU was unable by itself to stop them. It was only with the help of the United States and after over 100,000 lives were lost in Bosnia was peace eventually restored there, and several years later, to Kosovo.

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In giant “garage sale”, Japan’s TV giants hawk $3 billion of assets

TOKYO (Reuters) – Panasonic Corp, Japan‘s struggling maker of Viera brand TVs, owns more than 10 million square meters of office and factory space, dormitories for its workers and sports facilities for its rugby, baseball and women’s athletics teams.

As it battles for Christmas shoppers’ wallets in the year-end holiday season, the sprawling electronics conglomerate is also seeking buyers for some of those properties to trim its fixed costs and improve cashflow at a time of intense competition, particularly from South Korean rivals such as Samsung Electronics Co.

Japan’s other troubled TV makers, Sony Corp and Sharp Corp, are also selling buildings and businesses in a giant ‘garage sale’ that could raise a combined $ 3 billion.

Panasonic plans to raise $ 1.34 billion from offloading property and shares in other Japanese companies by end-March, the group’s chief financial officer Hideaki Kawai told Reuters.

“We have a lot of land and buildings in Japan and overseas,” he said in an interview at the company’s head office in Osaka, in western Japan. He declined to list which properties would go on the block, but said most are in Japan.

Included is a 24-storey central Tokyo block – built in 2003 with more than 47,300 square meters and housing 2,000 Panasonic workers – a source familiar with the plan told Reuters.

Kawai added that Panasonic would raise about a quarter of the sell-off funds by getting rid of shares it owns in other companies – a common practice of cross-shareholdings in Japan.

The proceeds would help bolster free cashflow to 200 billion yen ($ 2.43 billion) for the business year to March, Kawai said, and allow Panasonic to reduce its debt and maintain its crucial research and development effort as it revamps its business portfolio.

It will sell more assets in the year starting in April if cashflow dips below 200 billion yen, Kawai added. Panasonic President Kazuhiro Tsuga has promised to shut or sell businesses operating at below a 5 percent margin. Those sales could start as soon as April.

Panasonic’s fixed assets of $ 21 billion are around 30 percent more than those of Apple Inc, and are almost double the company’s market value. The company, founded almost a century ago as a small electrical extension socket maker, trades at around half its book value – which includes intangible assets such as patents. Sony trades at 39 percent of book, Sharp at 30 percent.

The fixed assets – buildings, land and machinery – of the three companies that were not so long ago a byword for innovation in household gadgetry total around $ 42 billion, while their combined market value is $ 24 billion.

CASHFLOW IS KING

The three firms have been downgraded by credit ratings agencies, making it tougher to raise funding on capital markets, and making asset sales more urgent.

Selling assets “is good in terms of their credit ratings because, for all three, it will lower fixed costs and they can reduce their capex requirements. Eventually, this could improve operating margins and, more importantly, cashflow,” said Alvin Lim, an analyst at Fitch Ratings in Seoul.

Fitch, which makes its ratings without input from company management, last month cut Panasonic to BB and Sony to BB minus, the first time one of the major agencies has relegated either company to junk status. Sharp is ranked B minus, adding to its borrowing costs.

“We rate Panasonic as investment grade, and it should have various funding options. Selling assets it can do without, to avoid raising additional borrowing, can be an option,” said Osamu Kobayashi, an analyst at Standard & Poor’s.

While Korean rivals have also benefited from a weaker local currency, data from the Japan Electronics and Information Technology Industries Association shows that Japanese production of consumer electronic equipment fell to just above $ 15 billion last year from more than $ 19 billion a decade ago. Output in September was just $ 980 million, half last year’s level.

“The gap with Korean makers seems to be widening. It’s going to be very difficult for them to regain their top-tier position,” said Fitch’s Lim.

As the three Japanese firms, all under new leadership, have sketched out restructuring plans, the cost of insuring their debt against defaulting in 5 years has dropped from spikes just a month ago. Credit default swaps for Sharp and Sony are down to levels last seen 3 months ago, while Panasonic’s have dropped 40 percent in the past month.

THREE PATHS

While Panasonic is looking to revamp its business around batteries, auto parts and household appliances, Sony is doubling down on smartphones, gaming and cameras. Sharp, meanwhile, is focusing on display screens and is forging alliances with the likes of Taiwan’s Hon Hai Precision Industry and U.S. chipmaker Qualcomm Inc.

Sony may also take the real estate sale route to raise much-needed cash, with a possible sale of its 37-storey New York headquarters, dubbed by New Yorkers as the ‘Chippendale’ because of its design that is reminiscent of the period English furniture. Selling that jewel could raise $ 1 billion, media have reported.

The maker of Vaio laptops, PlayStation gaming consoles and Bravia TVs may also sell its battery business, which makes lithium ion power packs for tablets, PCs and mobile phones. The company has been approached by investment banks offering to sell the unit, which employs 2,700 people and has three factories in Japan and two overseas assembly plants. Sony values the business’s fixed assets at $ 636 million.

Potential buyers could include BYD Co Ltd, a Chinese carmaker backed by billionaire investor Warren Buffett, and Taiwan’s Hon Hai – which part owns Sharp’s advanced LCD panel plant in Sakai, western Japan, and is in talks to buy TV assembly plants in China, Malaysia and Mexico for $ 667 million, Japan’s Sankei newspaper has reported.

Sharp has mortgaged nearly all its properties to secure a $ 4.6 billion bailout from Japanese banks and so has few assets to offer in a grand garage sale.

Instead, it’s selling part of the garage.

Qualcomm has agreed to buy a 5 percent stake in Sharp, making it the largest shareholder. Hon Hai, which earlier this year agreed to invest in Sharp – before its stock slumped in the wake of record losses – has said it remains interested in taking a stake.

“Whatever they can get to get through this fiscal period by scaling down their operation is a critical step for them to remain afloat,” said Fitch’s Lim.

($ 1 = 82.4700 Japanese yen)

(Additional reporting by Reiji Murai; Editing by Ian Geoghegan)

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UK hospital says royal prank call appalling after nurse death

LONDON/PERTH, Australia (Reuters) – The London hospital that treated Prince William‘s pregnant wife Kate condemned on Saturday an Australian radio station that made a prank call seeking information about the duchess, after the apparent suicide of a nurse who answered the phone.

There has been renewed soul-searching over media ethics after Jacintha Saldanha, 46, the nurse who was duped by the station’s call to the King Edward VII hospital, was found dead in staff accommodation nearby on Friday.

The owners of Sydney’s 2DayFM said it had done nothing wrong and no one could have foreseen the tragic outcome of the stunt, but two leading Australian firms suspended their advertising.

The hoax, in which the radio hosts – posing as Britain‘s Queen Elizabeth and Prince Charles despite Australian accents – successfully inquired after Kate’s medical condition, has made worldwide headlines.

The hospital’s chairman Lord Glenarthur urged the station’s owners to ensure that such an incident could never happen again.

“It was extremely foolish of your presenters even to consider trying to lie their way through to one of our patients, let alone actually make the call,” he said in a letter to Southern Cross Austereo Chairman Max Moore-Wilton.

“Then to discover that, not only had this happened, but that the call had been pre-recorded and the decision to transmit approved by your station’s management, was truly appalling.”

The immediate consequence had been the humiliation of two “dedicated and caring” nurses, he said. “The longer term consequence has been reported around the world and is, frankly, tragic beyond words,” Glenarthur added.

Australians from Prime Minister Julia Gillard to people in the street expressed their sorrow and cringed at how the hoax had crossed the line of acceptability.

Two large companies suspended their advertising from the popular Sydney-based station and a media watchdog said it would speak with 2DayFM’s owners.

The hoax raised concerns about the ethical standards of Australian media, as Britain’s own media scramble to agree a new system of self-regulation and avoid state intervention following a damning inquiry into reporting practices.

Southern Cross Austereo Chief Executive Rhys Holleran told a news conference in Melbourne on Saturday that the company would work with authorities in any investigation. He said he was “very confident” that the radio station had done nothing illegal.

“This is a tragic event that could not have been reasonably foreseen and we are deeply saddened by it. Our primary concern at this stage is for the family of Nurse Saldanha.”

Holleran added that 2DayFM radio hosts Mel Greig and Michael Christian were “completely shattered” by Saldanha’s death. The pair will stay off the air indefinitely, he said.

London detectives have sent a request to Sydney police to question the two presenters, Britain’s Sunday Times said.

“Officers have been in contact with Australian authorities,” a spokesman for London’s Metropolitan Police said.

Two high-profile Australian firms, the Coles supermarket group and phone company Telstra, said they were suspending advertising with the station.

Austereo said all advertising on 2DayFM had been shelved until at least Monday in a mark of respect to advertisers whose Facebook pages were inundated with thousands of hate messages.

The Twitter accounts of Greig and Christian were removed shortly after news of the tragedy in London broke.

SOCIAL MEDIA OUTRAGE

Social media were inundated with angry messages to the radio station in what has become the latest shock radio story to rile the Australian public. Earlier this year 2DayFM was reprimanded by Australia’s independent communications regulator after a radio host talked a 14-year-old girl into revealing on air that she had been raped.

So-called “shock jock” radio announcers are frequently denounced in Australia for their deeply personal and often derogatory attacks on politicians and ordinary citizens.

Communications Minister Stephen Conroy said that the independent broadcast regulator, the Australian Communications and Media Authority, had received complaints about the hoax.

The media fallout from the tragedy could extend beyond Australia’s shores, said British radio presenter Steve Penk, who has made a career out of prank calls.

“I think it will probably be the death of the wind-up phone call. I think (British media regulator) Ofcom will wrap it in so much red tape that it will make it almost impossible to get these things on the air,” he told Sky News.

Saldanha lived with her husband and two children in the western English city of Bristol. She moved to Britain from India around 10 years ago, British media reports said.

Her husband’s family, who live in the southern Indian state of Karnataka, told news agency Asian News International they would miss their “good-natured and beautiful” relative.

“At eight o’clock in the morning, he (Saldanha’s husband) rang up to say that she is no more, more than that we do not know about what actually happened. She is dead, that’s all,” said Camril Barboza, Saldanha’s mother-in-law.

The British royal family has long had an uneasy relationship with the media, which sank to its lowest after the 1997 death of Prince William’s mother Diana in a Paris car crash.

Palace officials acted swiftly this summer when a French magazine printed topless photos of Kate on holiday, taking legal action to curb republication.

Saldanha’s death threatens to cast a pall over the enthusiastic public welcome given to Kate’s pregnancy, which dominated newspaper front pages this week.

(Writing by Tim Castle and Jeremy Laurence; Editing by Mark Heinrich and Stephen Powell)

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Obama met Boehner on Sunday over fiscal cliff: aides

WASHINGTON (Reuters) – President Barack Obama met with Republican Speaker of the House of Representatives John Boehner on Sunday at the White House to negotiate ways to avoid the “fiscal cliff,” according to White House officials and a congressional aide.

The two sides declined to provide further details about the unannounced meeting. Obama and Boehner aides used the same language to describe it.

“This afternoon, the president and Speaker Boehner met at the White House to discuss efforts to resolve the fiscal cliff,” White House spokesman Josh Earnest said.

“We’re not reading out details of the conversation, but the lines of communication remain open,” he said.

An aide to Boehner emailed an identical quote.

The two sides are trying to reach an agreement that would stop automatic spending cuts and tax increases from going into effect at the beginning of the year. Analysts say if that so-called “fiscal cliff” occurs, the U.S. economy could swing back into a recession.

Obama has made clear he will not accept a deal unless tax rates for the wealthiest Americans rise. Boehner and many of his fellow Republicans say any tax increases would hurt a still fragile economy.

Last week Boehner and Obama spoke by phone, a conversation that the Republican leader described as pleasant but unproductive.

The common language used by both men’s aides suggests an agreement to keep details about their discussions private, which could help both of them sell less politically palatable aspects of an eventual deal to lawmakers in their respective parties.

(additional reporting by Rachelle Younglai; editing by Stacey Joyce)

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India’s Strange Obsession With Hitler

All that remains of the sign above the Hitler clothing store in Ahmedabad, India, is the swastika that used to dot its “i.” Citing cultural insensitivity, the municipality tore it down on Oct. 30 after the store’s owners refused to change it. Rajesh Shah, a co-owner of the shop, which opened in August, is flummoxed. “We are popular because of the name,” he says. “Our customers were not upset about the name. They said, ‘Don’t change it.’ Ahmedabadis like the name because they know Hitler [has not done] anything harmful to India.”

Lacking the sting of anti-Semitism but troubling nonetheless, the Hitler brand is gaining strength in India. Mein Kampf is a bestseller, and bossy people are often nicknamed Hitler on television and in movies.

In 2006 a cafe called Hitler’s Cross opened in Mumbai; in 2011 a pool hall named Hitler’s Den opened nearby in Nagpur. Owners of both say Hitler was a draw; the names were changed in the face of criticism from Jewish groups. (In Ahmedabad, store owner Shah says that only foreigners complained.)

Hero Hitler in Love, a Punjabi comedy about a man with an explosive temper, and the Hindi film Gandhi to Hitler, a sympathetic portrait of the dictator’s last days (Gandhi once wrote to the Führer), came out last year. A soap opera, Hitler Didi—or “big sister Hitler”—is a hit. Bal Thackeray, the leader of a far-right Hindu party who recently died, professed admiration for Hitler.

Unlike in some parts of Europe such as Russia and Austria, where Mein Kampf has been embraced by the extreme right, Hitler’s popularity in India is not the result of anti-Semitism, says Navras Jaat Aafreedi, a professor of social sciences at Gautam Buddha University in New Delhi. He says it stems from a dearth of European history classes in schools. To the extent that German history is taught, he says, it’s in the context of “the view that had Hitler not weakened the British Empire by the Second World War, the British would have never voluntarily left India.” The country’s Jewish community—some 5,300 people—is one of a few in the world to have never been persecuted by their countrymen, he says.

Solomon Sopher, president of the Baghdadi Jewish community in Mumbai, agrees: “We have never been persecuted by any caste or creed. Not even by the Muslims.” He adds that Indians are prone to “hero worship” of strong military leaders. “Lack of examples of strong leadership in India leads the Indian youth to admire Hitler,” explains Aafreedi.

That may explain why Mein Kampf, the dictator’s memoir, sells briskly in Mumbai and is printed by at least 13 publishers in India, according to Economic & Political Weekly. Mein Kampf is also becoming a must-read for some business schools applicants. “Each year, when I sit for admission interviews, there [are] books that are mentioned as favorite reads” by applicants, says Uma Narain, a professor at S.P. Jain Institute of Management & Research. “This year, many referred to Mein Kampf.” While Narain says she wouldn’t dream of teaching Mein Kampf, she can understand the lure of “the autobiographical account and political ideology of a charismatic man who supposedly got things done.”

Although Shah says the Hitler clothing store’s name was apolitical, he says the controversy has been good for business. He is petitioning the courts to reverse the decision to take the name down. “We’re going to fight for the name ‘Hitler,’ ” he says.

The bottom line: The popularity of Hitler is rising in India, reflecting the national attraction to strong leaders.

Shaftel is a Bloomberg Businessweek contributor.

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Anger at Australian radio station over royal hoax

LONDON (AP) — It started out as a joke, but ended in tragedy.

The sudden death of a nurse who unwittingly accepted a prank call to a London hospital about Prince William‘s pregnant wife Kate has shocked Britain and Australia, and sparked an angry backlash Saturday from some who argue the DJs who carried out the hoax should be held responsible.

At first, the call by two irreverent Australian DJs posing as royals was picked up by news outlets around the world as an amusing anecdote about the royal pregnancy. Some complained about the invasion of privacy, the hospital was embarrassed, and the radio presenters sheepishly apologized.

But the prank took a dark twist Friday with the death of nurse Jacintha Saldanha, a 46-year-old mother of two, three days after she took the hoax call. Police have not yet determined Saldanha‘s cause of death, but people from London to Sydney have been making the assumption that she died because of stress from the call.

King Edward VII’s Hospital, where the former Kate Middleton was being treated for acute morning sickness this week, wrote a strongly-worded letter to the 2DayFM radio station’s parent company Southern Cross Austereo, condemning the “truly appalling” hoax and urging it to take steps to ensure such an incident would never happen again.

“The immediate consequence of these premeditated and ill-considered actions was the humiliation of two dedicated and caring nurses who were simply doing their job tending to their patients,” the letter read. “The longer term consequence has been reported around the world and is, frankly, tragic beyond words.”

The hospital did not comment when asked whether it believed the prank call had directly caused Saldanha’s death, only saying that the protest letter spoke for itself.

DJs Mel Grieg and Michael Christian, who apologized for the prank on Tuesday, took down their Twitter accounts after they were bombarded by thousands of abusive comments. Rhys Holleran, CEO of Southern Cross Austereo, said the pair have been offered counseling and were taken off the air indefinitely.

No one could have foreseen the tragic consequences of the prank, he stressed.

“I spoke to both presenters early this morning and it’s fair to say they’re completely shattered,” Holleran told reporters on Saturday.

“These people aren’t machines, they’re human beings,” he said. “We’re all affected by this.”

Details about Saldanha have been trickling out since the duty nurse’s body was found at apartments provided by the private hospital, which has treated a line of royals before, including Prince Philip, who was hospitalized there for a bladder infection in June.

The nurse, who was originally from India, had lived with her partner Benedict Barboza and a teenage son and daughter in Bristol, in southwestern England, for the past nine years. The hospital praised her as a “first-class nurse” who was well-respected and popular among colleagues during her four years working there.

Just before dawn on Tuesday, Saldanha was looking after her patients when the phone rang. A woman pretending to be Queen Elizabeth II asked to speak to the duchess, and, believing the caller, Saldanha transferred the call to a fellow nurse caring for the duchess, who spoke to the two DJs about Kate’s condition live on air.

During the call — which was put online and later broadcast on news channels worldwide — Grieg mimicked the Britain’s monarch’s voice and asked about the duchess’ health. She was told Kate “hasn’t had any retching with me and she’s been sleeping on and off.” Grieg and Christian, who pretended to be Prince Charles, also discussed with the nurse when they could travel to the hospital to check in on Kate.

Three days later, officers responding to reports that a woman was found unconscious discovered Saldanha, who was pronounced dead at the scene. Police didn’t release a cause of death, but said they didn’t find anything suspicious. A coroner will make a determination on the cause.

In the aftermath of Saldanha’s death, some speculated about whether the nurse was subject to pressure to resign or about to be punished for the mistake. Royal officials said Prince William and Kate were “deeply saddened,” but insisted that the palace had not complained about the hoax. King Edward VII’s Hospital also maintained that it did not reprimand Saldanha.

“We did not discipline the nurse in question. There were no plans to discipline her,” a hospital spokesman said. He declined to provide further details, and did not respond to questions about the second nurse’s condition.

The Australian Communications and Media Authority, which regulates radio broadcasting, said it has received complaints about the prank and is discussing the matter with the Sydney-based station, which yanked its Facebook page after it received thousands of angry comments.

Holleran, the radio executive, would not say who came up with the idea for the call. He only said that “these things are often done collaboratively.” He said 2DayFM would work with authorities, but was confident the station hadn’t broken any laws, noting that prank calls in radio have been happening “for decades.”

The station has a history of controversy, including a series of “Heartless Hotline” shows in which disadvantage people were offered a prize that could be taken away from them by listeners.

Saldanha’s family asked for privacy in a brief statement issued through London police.

Flowers were left outside the hospital’s nurse’s apartments, with one note reading: “Dear Jacintha, our thoughts are with you and your family. From all your fellow nurses, we bless your soul. God bless.”

Officials from St. James’s Palace have said the duchess is not yet 12 weeks pregnant. The child would be the first for her and William.

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Synacor partners with Zynga to bring social games to pay TV

(Reuters) – Synacor Inc, partly owned by Intel Corp, said it partnered with Zynga Inc to allow pay TV and broadband providers offer social games to their customers.

Zynga shares rose about 3 percent to $ 2.30 in premarket trading, while Synacor shares were up about 5 percent at $ 6.60.

Synacor said certain pay-TV subscribers will get in-game currency each month as part of their subscription that can be redeemed for popular Zynga games such as Zynga Poker and FarmVille2.

The partnership comes days after Zynga revised its pact with Facebook Inc to lower its dependence on the social network.

Synacor, which debuted on the Nasdaq in February, offers authentication and management services to companies offering on-demand content, primarily cable and telecom service providers and consumer electronics brands.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sriraj Kalluvila)

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Lupus forces singer Toni Braxton into LA hospital

LOS ANGELES (AP) — Singer Toni Braxton has been hospitalized in Los Angeles.

The R&B performer says in a Tweet on Friday that she’s been hospitalized because of “minor health issues” related to Lupus. A spokeswoman confirmed the hospitalization but had no other details. “But no worries!,” Braxton wrote to fans. “I will be out any day now.”

The 45-year-old singer of “Un-break My Heart” revealed two years ago she has Lupus, a potentially deadly autoimmune disease that killed Braxton’s uncle. She also suffers from a narrowing of the blood vessels in her heart.

Braxton said in a recent “20/20″ interview that doctors told her the Lupus diagnosis meant her performing career would likely be diminished and the disease helped push her into a recent bankruptcy.

___

Online:

http://tonibraxton.com

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Venezuela’s Chavez to have another cancer operation

CARACAS (Reuters) – Venezuelan President Hugo Chavez said on Saturday he would undergo another cancer operation in the coming days after doctors in Cuba found a third recurrence of malignant cells in his pelvic area.

The news is a big blow for his supporters in South America’s biggest oil exporter, who elected him in October to a new six-year term in power. Chavez has twice said he was cured, and then had to return to Cuba for more surgery.

In a televised broadcast flanked by ministers at the Miraflores presidential palace, Chavez said that if anything happened to him and a new vote had to be held, his supporters should vote for Vice President Nicolas Maduro – the first time the socialist leader has named a successor.

Chavez returned to Venezuela on Friday from having medical treatment in Cuba, ending a three-week absence from public view.

“Unfortunately, during these exhaustive exams they found some malignant cells in the same area … . It is absolutely necessary, absolutely essential, that I have to undergo a new surgical intervention,” the 58-year-old said, looking resolute.

“With God’s will, like on the previous occasions, we will come out of this victorious.”

The president has already had three cancer operations in Cuba since the middle of last year. News of more surgery will likely raise new doubts about his future and the fate of his self-styled “revolution” in the OPEC nation.

Chavez, who has dominated Venezuelan politics since taking power 14 years ago, said he would return to Havana on Sunday.

Under Venezuela’s constitution, an election would have to be held within 30 days if Chavez were to leave office within the first four years of his next term, due to begin on January 10.

The president has been receiving treatment at the Cimeq hospital in Havana as a guest of his friend and political mentor, former Cuban leader Fidel Castro.

(Additional reporting by Eyanir Chinea and Diego Ore; Editing by Xavier Briand)

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